|
Report Date : |
10.10.2013 |
IDENTIFICATION DETAILS
|
Name : |
RELIANCE SIBUR ELASTOMERS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Admin Building, MTF Area, Village Sikka, Taluka and District Jamnagar,
Jamnagar – 361140, Gujarat |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
03.02.2012 |
|
|
|
|
Com. Reg. No.: |
04-068867 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.1180.058 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U25209GJ2012PTC068867 |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAFCR6922C |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
The Company is working on the implementation of the Butyl Rubber. |
|
|
|
|
No. of Employees
: |
Not Divulged |
RATING & COMMENTS
|
MIRA’s Rating : |
B (36) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 4800000 |
|
|
|
|
Status : |
Yet to commence its commercial activity |
|
|
|
|
Payment Behaviour : |
Unknown |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a joint venture between Reliance Group and SIBUR Group of
Russia. It is a subsidiary of reliance industrial investments and holding
limited. Even though the company has been incorporated as on February 03, 2012,
it has not yet commenced its business activity. However, the company has recorded a profit after tax mainly from
divided and capital gain from the investments. The capital base of the
company appears to be decent. There are not external borrowings recorded
during 2013. Trade relations are fair. Business is active. Payment terms are
reported as slow but correct. In view of strong venturing partners, the subject can be considered
for business dealings with slight caution. |
NOTES:
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – March 31st, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
We are living in a
world where volatility and uncertainty have become the New Normal. We saw
a change of government in countries like Tunisia, Egypt, Libya and Vietnam. Once
powerful countries in Europe are now fighting for bankruptcy. We have
taken growth in the developing part of the world for granted but economic
growth in China and India has begun to slow. Companies that were synonymous
with their product categories just a few years ago are now no longer in
existence. Kodak, the inventor of the digital camera had to wind up its
operations, HMV, the British entertainment retailing company and Borders, once
the second largest bookstore have shut down due to their inability to evolve
their business models with the changing time. Readers’ Digest, Thomson Register
are no more !
There is another
megatrend happening. The World order is changing as economic power shifts from
West to East. According to McKinsey study, it took Britain more than 100 years
to double its economic output per person during its industrial revolution and
the US later took more than 50 years to do the same. More than a century later,
China and India have doubled their GDP per capital in 12 and 18 years respectively.
By 2020, emerging Asia will become the world’s largest consuming block,
overtaking North America.
The years after the
outbreak of the global financial crisis, the world economy continues to remain
fragile. The Indian economy demonstrated remarkable resilience in the initial
years of the contagion but finally lost ground last year. GDP growth slowed
down. Currency has been weakening. There is a marked deceleration in
agriculture, industry and services. Dampening sentiment led to a cut-back in investment
as well as private consumption expenditure. Inflation remained at high
levels fuelled by the pressure from the food and fuel sectors. The large fiscal
and current account deficit s continued to cause grave concern. It is
imperative that India regains its growth trajectory of 8-9 % sooner than later.
This is crucially important given the need to create gainful livelihood
opportunities for the millions living in poverty as also the large contingent
of young people joining the job market every year.
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
INFORMATION DECLINED BY
|
Name : |
Mr. Prakash Dadhich |
|
Designation : |
Chief Finance Officer |
|
Contact No.: |
91-22-44770602 |
|
Date : |
09.10.2013 |
LOCATIONS
|
Registered Office : |
Admin Building, MTF Area, Village Sikka, Taluka and District Jamnagar,
Jamnagar – 361140, Gujarat, India |
|
Tel. No.: |
Not Available |
|
Fax No.: |
Not Available |
|
E-Mail : |
DIRECTORS
(AS ON 28.06.2013)
|
Name : |
Mr. Sudhakar Saraswatula |
|
Designation : |
Director |
|
Address : |
A/161, Brook Heaven, Jogeshwari – Vikhroli Link Road, Near Majas
Depot, Jogeshwari (East), Mumbai – 400053, Maharashtra, India |
|
Date of Birth/Age : |
01.07.1957 |
|
Date of Appointment : |
03.02.2012 |
|
DIN No.: |
00001330 |
|
Email : |
|
|
|
|
|
Name : |
Mr. Mikhail Valerievich Gordin |
|
Designation : |
Director |
|
Address : |
House No.5, AP-24, Shcherbakovskaya Street, Moscow 772031, Moscow
Russian Federation |
|
Date of Birth/Age : |
16.08.1969 |
|
Date of Appointment : |
21.02.2012 |
|
DIN No.: |
05179604 |
|
Email : |
|
|
|
|
|
Name : |
Mr. Marina Vladimir Medvedeva |
|
Designation : |
Director |
|
Address : |
23/2, AP-426, Uralskaya Street, Moscow – 107065, Moscow Russian
Federation |
|
Date of Birth/Age : |
06.09.1971 |
|
Date of Appointment : |
21.02.2012 |
|
DIN No.: |
05179585 |
|
Email : |
|
|
|
|
|
Name : |
Mr. Kishor Jhalaria |
|
Designation : |
Director |
|
Address : |
17-IRIS, 5th Floor, G. D. Somanai Marg, Cuffe Parade,
Mumbai – 400005, Maharashtra, India |
|
Date of Birth/Age : |
28.05.1957 |
|
Date of Appointment : |
21.02.2012 |
|
DIN No.: |
02373095 |
|
Email : |
|
|
|
|
|
Name : |
Mr. Ajay Gautamlal Shah |
|
Designation : |
Director |
|
Address : |
A2/1-2nd Floor, Great Eastern Royale 133 Bellasis Road,
Tardeo, Mumbai – 400034, Maharashtra, India |
|
Date of Birth/Age : |
02.06.1959 |
|
Date of Appointment : |
21.02.2012 |
|
DIN No.: |
03613030 |
|
Email : |
|
|
|
|
|
Name : |
Mr. Virendra Jivraj Rathod |
|
Designation : |
Whole Time Director |
|
Address : |
1203, Legacy Tower, Powai Vihar, Power, Mumbai – 400076, Maharashtra,
India |
|
Date of Birth/Age : |
07.10.1963 |
|
Date of Appointment : |
21.08.2012 |
|
DIN No.: |
05357880 |
|
Email : |
|
|
|
|
|
Name : |
Mr. Pankaj Shivdutt Dadhich |
|
Designation : |
Additional Director |
|
Address : |
J/302, 3rd Floor, Vishnu Park, J Wing, Konkanipada, Sant
Kabir Marg, Dahisar (East), Mumbai – 400068, Maharashtra, India |
|
Date of Birth/Age : |
20.11.1973 |
|
Date of Appointment : |
21.08.2012 |
|
DIN No.: |
01958598 |
|
Email : |
|
|
|
|
|
Name : |
Mr. Evgeny Griva |
|
Designation : |
Alternate Director |
|
Address : |
3-Ap – 232, ADM Ushakova Ave, Moscow 117624, Moscow Russian Federation
|
|
Date of Birth/Age : |
25.05.1973 |
|
Date of Appointment : |
21.02.2013 |
|
DIN No.: |
05179881 |
KEY EXECUTIVES
|
Name : |
Mr. Prakash Dadhich |
|
Designation : |
Chief Finance Officer |
|
|
|
|
Name : |
Mr. Ratnesh Prasad Rukhariyar |
|
Designation : |
Company Secretary |
|
Address : |
Flat No.202, 2nd Floor, Building No.6, Plot 17 Balaji
Garden, Sector 11, Koperkhairane, Navi Mumbai – 400709, Maharashtra, India |
|
Date of Birth/Age : |
06.02.1980 |
|
Date of Appointment : |
21.02.2013 |
|
PAN No.: |
AHEPR6330F |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
(AS ON 28.06.2013)
|
Names of Shareholders |
|
No. of Shares |
|
|
|
|
|
Reliance Industrial Investments and Holdings Limited, India |
|
88386303 |
|
Quinzol Ventures Limited, Nicosia, Cyprus |
|
29619444 |
|
Sudhakar
Saraswatula Jointly with Reliance Industrial Investments and Holdings Limited |
|
1 |
|
Pankaj Dadhich jointly with Reliance Industrial Investments and
Holdings Limited |
|
1 |
|
Ratnesh P Rukhariyar jointly
with Reliance Industrial Investments and Holdings Limited |
|
1 |
|
Paras N Bhansali jointly with Reliance Industrial Investments and
Holdings Limited |
|
1 |
|
Santosh Kumar Ram jointly with Reliance Industrial Investments and
Holdings Limited |
|
1 |
|
|
|
|
|
Total |
|
118005752 |
(AS ON 02.08.2013)
Equity Shares Break – up
|
Category |
|
Percentage |
|
|
|
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
25.10 |
|
Bodies corporate |
|
74.90 |
|
|
|
|
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
The Company is working on the implementation of the Butyl Rubber. |
GENERAL INFORMATION
|
No. of Employees : |
Not Divulged |
|
|
|
|
Bankers : |
Not Divulged |
|
|
|
|
Facilities : |
-- |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Chaturvedi and Shah Chartered Accountants |
|
Address : |
714-715 Tulsiani
Chambers, 212, Nariman Point, Mumbai – 400021, Maharashtra, India |
|
PAN No.: |
AAAFC0662N |
|
|
|
|
Holding
Company: |
· Reliance Industrial Investments and Holdings Limited |
|
|
|
|
Ultimate Holding
Company: |
· Reliance Industries Limited |
|
|
|
|
Fellow
Subsidiary Company: |
· Reliance Ventures Limited |
|
|
|
|
Joint Ventures : |
· Quinzol Ventures Limited |
|
|
|
|
Associates : |
· Reliance Elastomers Private Limited (Upto 21.02.2012) |
CAPITAL STRUCTURE
(AS ON 28.06.2013)
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
130000000 |
Equity Shares |
Rs.10/- each |
Rs.1300.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
118005752 |
Equity Shares |
Rs.10/- each |
Rs.1180.058
Millions |
|
|
|
|
|
FINANCIAL DATA
[All figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
|
31.03.2013 |
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
|
1180.058 |
|
(b) Reserves & Surplus |
|
|
19.428 |
|
(c) Money received against share warrants |
|
|
0.000 |
|
|
|
|
|
|
(2) Share
Application money pending allotment |
|
|
0.000 |
|
Total
Shareholders’ Funds (1)+(2) |
|
|
1199.486 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
|
0.000 |
|
(b) Deferred tax liabilities (Net) |
|
|
0.000 |
|
(c)
Other long term liabilities |
|
|
0.000 |
|
(d)
long-term provisions |
|
|
0.000 |
|
Total
Non-current Liabilities (3) |
|
|
0.000 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
|
|
0.000 |
|
(b)
Trade payables |
|
|
0.000 |
|
(c)
Other current liabilities |
|
|
0.455 |
|
(d)
Short-term provisions |
|
|
0.809 |
|
Total
Current Liabilities (4) |
|
|
1.264 |
|
|
|
|
|
|
TOTAL |
|
|
1200.750 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
|
|
0.000 |
|
(ii)
Intangible Assets |
|
|
0.000 |
|
(iii)
Capital work-in-progress |
|
|
206.057 |
|
(iv) Intangible assets under development |
|
|
0.000 |
|
(b) Non-current
Investments |
|
|
0.000 |
|
(c) Deferred tax assets
(net) |
|
|
0.000 |
|
(d) Long-term Loan
and Advances |
|
|
0.000 |
|
(e)
Other Non-current assets |
|
|
0.000 |
|
Total
Non-Current Assets |
|
|
206.057 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
|
|
968.891 |
|
(b)
Inventories |
|
|
0.000 |
|
(c)
Trade receivables |
|
|
0.000 |
|
(d)
Cash and cash equivalents |
|
|
0.051 |
|
(e)
Short-term loans and advances |
|
|
25.751 |
|
(f)
Other current assets |
|
|
0.000 |
|
Total
Current Assets |
|
|
994.693 |
|
|
|
|
|
|
TOTAL |
|
|
1200.750 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
|
31.03.2013 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
|
NA |
|
|
|
Other Income |
|
|
NA |
|
|
|
TOTAL (A) |
|
|
NA |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL (B) |
|
|
NA |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
|
|
27.700 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
|
|
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
|
|
27.700 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
|
|
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
|
|
27.700 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
|
|
8.300 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
|
|
19.400 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
|
|
0.63 |
|
KEY RATIOS
|
PARTICULARS |
|
|
|
31.03.2013 |
|
PAT / Total Income |
(%) |
|
|
NA |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
|
|
NA |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
|
|
2.78 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
|
|
0.02 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
|
|
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
|
|
786.94 |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info Agents |
Available in Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
No |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact person |
Yes |
|
11] |
Turnover of firm for last one years |
No |
|
12] |
Profitability for last one years |
No |
|
13] |
Reasons for variation <> 20% |
----- |
|
14] |
Estimation for coming financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details (if applicable) |
No |
|
21] |
Market information |
----- |
|
22] |
Litigations that the firm / promoter
involved in |
----- |
|
23] |
Banking Details |
No |
|
24] |
Banking facility details |
No |
|
25] |
Conduct of the banking account |
----- |
|
26] |
Buyer visit details |
----- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if applicable |
Yes |
|
29] |
Last accounts filed at ROC |
Yes |
|
30] |
Major Shareholders, if available |
Yes |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of Proprietor/Partner/Director, if
available |
No |
|
33] |
Voter ID No of Proprietor/Partner/Director,
if available |
No |
|
34] |
External Agency Rating, if available |
No |
OPERATIONAL REVIEW
The Company was incorporated
on February 03, 2012 and is a Joint Venture between Reliance Group and SIBUR
Group of Russia. The Company is a subsidiary of Reliance Industrial Investments
and Holdings Limited (a Reliance Group entity) which holds 74.9% of the paid-up
share capital of the Company. The other Joint Venture Partner, Quinzol Ventures
Limited (a SIBUR Group entity) holds 25.1% of the paid-up share capital of the
Company.
The Company is
working on the implementation of the Butyl Rubber project for setting up a new
100,000 metric tonnes per year (MTA) capacity plant, which will be located at
Jamnagar.
This is a
significant project in India which will offer Butyl Rubber to Indian tyre and
tube manufacturers who are currently completely dependent on imports. The Company
has established a good foundation during the period under review.
As the Company is
yet to commence its commercial/ business activities, there was no revenue from
business operations during the period under review. The Company has recorded a
Profit after tax (PAT) of Rs. 19.400 Millions, mainly from dividend/capital
gain from the investment of surplus funds.
INDEX OF CHARGES: NO CHARGES EXIST FOR COMPANY
NEWS:
RELIANCE SIBUR BEGINS CONSTRUCTION OF BUTYL
RUBBER PLANT IN JAMNAGAR
New plant to be India's only manufacturer of butyl
rubber, JV to be amongst world's top five manufacturers of the product
February 22, 2013
Reliance Sibur Elastomers Private Limited, (RSEPL), a joint venture
between Reliance Industries Limited and SIBUR have begun construction of their
new butyl rubber plant, in Jamnagar.
To be commissioned in 2015, the new plant will be India’s only
manufacturer of butyl rubber and the JV will be amongst the world’s top five
manufacturers of butyl rubber.
RIL and Russia's Sibur signed the JV in February 2012 to produce 100,000
tonnes of butyl rubber per annum. RIL owns 74.9% of the JV while Sibur owns
25.1%.
“India is one of the most attractive petrochemicals markets right now
due to the significant investment in infrastructure which has spurred demand.
Sibur’s technologies together with Reliance’s infrastructure and resources will
help to establish a facility that will meet the demand for butyl rubber in
Asian market," said Dmitry Konov, CEO, Sibur.
RIL and Sibur signed a technology licence agreement facilitating use of
Sibur's proprietary butyl rubber production technology at the new
facility.
The licensing package includes development of a Basic Engineering
Package (BEP) and full-time provision of highly-experienced technical personnel
on both project and operational stages.
RIL will supply monomer and provide the JV with world-class
infrastructure and utilities.
Reliance has already started market seeding butyl rubber from Sibur in
India.
"The project is progressing as per the original schedule. The BEP
has already been completed in Nov 2012, and Detailed Engineering is underway.
At present, RSEPL is placing orders for long-lead equipment. When complete, the
Jamnagar plant will have the capacity to produce 100,000 tonnes annually,"
said RIL in a press statement.
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No exist to suggest that subject is or was
the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No exist to suggest that the property or assets of the subject are
derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No available
information exist that suggest that subject or any of its principals have been
formally charged or convicted by a competent governmental authority for any
financial crime or under any formal investigation by a competent government
authority for any violation of anti-corruption laws or international anti-money
laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on Corporate
Governance to identify management and governance. These factors often have been
predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.69 |
|
|
1 |
Rs.99.20 |
|
Euro |
1 |
Rs.83.69 |
INFORMATION DETAILS
|
Information
Gathered by : |
PDT |
|
|
|
|
Report Prepared
by : |
NIT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
4 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
36 |
This score serves as a reference to assess
SC’s credit risk and to set the amount of credit to be extended. It is
calculated from a composite of weighted scores obtained from each of the major
sections of this report. The assessed factors and their relative weights (as
indicated through %) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend (10%) Operational size
(10%)
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with full
security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
-- |
NB |
New Business |
-- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or
its officials.