MIRA INFORM REPORT
|
Report Date : |
02.09.2013 |
IDENTIFICATION DETAILS
|
Name : |
SIMPLAST INDIA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
1568, Church Road, Kashmere Gate, New Delhi - 110006 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
24.01.2007 |
|
|
|
|
Com. Reg. No.: |
55-158350 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 103.794
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U51109DL2007PTC158350 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
DELS32769C |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAKCS5500J |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject is engaged in the business of design, development,
manufacturing and marketing of plastic products. |
|
|
|
|
No. of Employees
: |
25 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (46) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 579000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a group company of Italy based Nuova Simplast S.n.C Di
Lorenzin V and Ci. It is having satisfactory track record. Financially company
performance seems good. Trade relations are reported to be fair. Business is
active. Payment are reported to be usually correct and as per commitment. The company can be considered for normal business dealing at usual
trade terms and condition. |
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) |
|
India |
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.
LOCATIONS
|
Registered Office : |
1568, Church Road, Kashmere Gate, New Delhi – 110006, India |
|
Tel. No.: |
91-120-4217763 |
|
Mobile No.: |
91-9311246659 (Mr. Gaurav) |
|
Fax No.: |
91-120-4217764 |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
|
|
|
|
Factory 1 : |
C-14, Phase – II, Noida - 201301, Uttar Pradesh, India |
|
Tel. No.: |
91-120-4217761/ 62/ 63 |
|
Fax No.: |
91-120- 4217764 |
DIRECTORS
As on: 08.06.2012
|
Name : |
Mr. Balbir Singh Bhasin |
|
Designation : |
Additional Director |
|
Address : |
B-144, Sector - 36, Gautam Budh Nagar, Noida
– 201305, Uttar Pradesh, India |
|
Date of Birth/Age : |
18.11.1939 |
|
Date of Appointment : |
10.02.2007 |
|
Passport No.: |
G3731882 |
|
DIN No.: |
00786973 |
|
|
|
|
Name : |
Vincenzo Lorenzin |
|
Designation : |
Additional Director |
|
Address : |
San Cassiano : 6/25, Alba CN - 12051, Italy |
|
Date of Birth/Age : |
03.10.1943 |
|
Date of Appointment : |
10.02.2007 |
|
Passport No.: |
D248438 |
|
DIN No.: |
01274135 |
|
|
|
|
Name : |
Massimiliano Lorenzin |
|
Designation : |
Additional Director |
|
Address : |
12/A, Strada Del Mazzucco, Mondovi CN -
12084, Italy |
|
Date of Birth/Age : |
18.08.1972 |
|
Date of Appointment : |
25.06.2008 |
|
Passport No.: |
F520395 |
|
DIN No.: |
02136889 |
|
|
|
|
Name : |
Marcella Lorenzin |
|
Designation : |
Additional Director |
|
Address : |
36/U, Via Pieroni, Alba CN - 12051, Italy |
|
Date of Birth/Age : |
11.12.1974 |
|
Date of Appointment : |
25.06.2008 |
|
Passport No.: |
AA0734605 |
|
DIN No.: |
02136961 |
|
|
|
|
Name : |
Gioele Lorenzin |
|
Designation : |
Director |
|
Address : |
Via Pieroni, 36/U Alba(CN) - 12051, Italy |
|
Date of Birth/Age : |
22.06.1982 |
|
Date of Appointment : |
17.12.2010 |
|
DIN No.: |
03040474 |
KEY EXECUTIVES
|
Name : |
Mr. Gaurav Kumar Chugh |
|
Designation : |
Secretary |
|
Address : |
P - 499, Jalvayu Vihar, Gautam Budh Nagar,
Greater Noida – 201308, Uttar Pradesh, India |
|
Date of Birth/Age : |
20.01.1979 |
|
Date of Appointment : |
01.11.2007 |
|
PAN No.: |
AEMPC7089K |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 08.06.2012
|
Names of Shareholders |
No. of Shares |
|
Balbir Singh Bhasin |
10000 |
|
Nuova Simplast Di. Lorenzin Vincenzo and Ci,
Italy |
10369370 |
|
Total |
10379370 |
As on: 08.06.2012
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s),
Non-resident Indian(s) or Overseas Corporate bodies or Others |
99.90 |
|
Directors or relatives of Directors |
0.10 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in the business of design, development,
manufacturing and marketing of plastic products. |
PRODUCTION STATUS AS ON (31.03.2012)
|
Particulars |
Unit |
Licensed
Capacity and Installed Capacity |
Actual
Production Qty. |
|
Plastic Products |
Nos. |
60000 |
53372 |
GENERAL INFORMATION
|
Suppliers : |
Associated Road Carriers Limited |
|
|
|
|
No. of Employees : |
25 (Approximately) |
|
|
|
|
Bankers : |
BNP Paribas Bank, New Delhi, India |
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
J.N. Sharma and Company Chartered Accountants |
|
Address : |
1568 Church Road, Kashmere Gate, Delhi – 110006, India |
|
PAN No. : |
AAAFJ6568N |
|
|
|
|
Holding Company : |
Nuova Simplast S.n.C Di Lorenzin V and Ci, Italy |
CAPITAL STRUCTURE
As on: 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
12000000 |
Equity Shares |
Rs. 10/- each |
Rs. 120.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10379370 |
Equity Shares |
Rs. 10/- each |
Rs. 103.794
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are in
Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2012 |
31.03.2011 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
103.794 |
103.794 |
|
(b) Reserves & Surplus |
|
41.167 |
22.851 |
|
(c) Money
received against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
|
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
|
144.961 |
126.645 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
42.555 |
33.615 |
|
(b) Deferred tax liabilities (Net) |
|
4.290 |
3.406 |
|
(c) Other long term
liabilities |
|
0.000 |
0.000 |
|
(d) long-term
provisions |
|
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
|
46.845 |
37.021 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term
borrowings |
|
0.000 |
0.000 |
|
(b) Trade payables |
|
13.765 |
11.170 |
|
(c) Other current liabilities |
|
4.539 |
1.799 |
|
(d) Short-term
provisions |
|
0.000 |
0.000 |
|
Total Current
Liabilities (4) |
|
18.304 |
12.969 |
|
|
|
|
|
|
TOTAL |
|
210.110 |
176.635 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
108.614 |
105.536 |
|
(ii) Intangible Assets |
|
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
|
0.000 |
0.000 |
|
(iv)
Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
0.000 |
0.000 |
|
(c) Foreign currency monetary item
translation difference asset account |
|
2.212 |
0.000 |
|
(d) Deferred tax assets (net) |
|
0.000 |
0.000 |
|
(e) Long-term Loan and Advances |
|
0.000 |
0.000 |
|
(f) Other
Non-current assets |
|
0.000 |
0.000 |
|
Total Non-Current
Assets |
|
110.826 |
105.536 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
0.000 |
0.000 |
|
(b) Inventories |
|
38.507 |
24.371 |
|
(c) Trade receivables |
|
46.354 |
22.827 |
|
(d) Cash and cash
equivalents |
|
1.754 |
3.607 |
|
(e) Short-term loans
and advances |
|
12.370 |
19.824 |
|
(f) Other current
assets |
|
0.299 |
0.470 |
|
Total Current Assets |
|
99.284 |
71.099 |
|
|
|
|
|
|
TOTAL |
|
210.110 |
176.635 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
103.794 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
9.997 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
113.791 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
0.000 |
|
|
2] Unsecured Loans |
|
|
33.198 |
|
|
TOTAL BORROWING |
|
|
33.198 |
|
|
DEFERRED TAX LIABILITIES |
|
|
2.495 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
149.484 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
87.829 |
|
|
Capital work-in-progress |
|
|
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.000 |
|
|
DEFERREX TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
26.243 |
|
|
Sundry Debtors |
|
|
17.186 |
|
|
Cash & Bank Balances |
|
|
14.823 |
|
|
Other Current Assets |
|
|
0.157 |
|
|
Loans & Advances |
|
|
10.172 |
|
Total
Current Assets |
|
|
68.581 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
5.501 |
|
|
Other Current Liabilities |
|
|
1.825 |
|
|
Provisions |
|
|
0.143 |
|
Total
Current Liabilities |
|
|
7.469 |
|
|
Net Current Assets |
|
|
61.112 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.543 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
149.484 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
145.326 |
101.909 |
58.684 |
|
|
|
Other Income |
1.104 |
1.459 |
1.147 |
|
|
|
TOTAL |
146.430 |
103.368 |
59.831 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
119.385 |
82.067 |
49.934 |
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
27.045 |
21.301 |
9.897 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
19.199 |
13.765 |
1.564 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
7.846 |
7.536 |
8.333 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
0.75 |
1.24 |
0.80 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
5.36
|
7.29 |
13.93 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
18.61
|
20.90 |
16.86 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
13.01
|
12.06 |
6.33 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.19
|
0.17 |
0.09 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.29
|
0.26 |
0.29 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
5.42
|
5.48 |
9.18 |
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 |
Yes |
|
5] |
Type
of Business |
Yes |
|
6] |
Line
of Business |
Yes |
|
7] |
Promoter's
background |
Yes |
|
8] |
No.
of employees |
Yes |
|
9] |
Name
of person contacted |
No |
|
10] |
Designation
of contact person |
No |
|
11] |
Turnover
of firm for last three years |
Yes |
|
12] |
Profitability
for last three years |
Yes |
|
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 |
Yes |
|
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 |
Yes |
|
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 |
UNSECURED LOAN:
|
Particular |
31.03.2012 [Rs.
in Millions] |
31.03.2011 [Rs.
in Millions] |
|
Long Term
Borrowing |
|
|
|
Foreign currency term loans from banks |
42.555 |
33.615 |
|
|
|
|
|
Total |
42.555 |
33.615 |
BACKGROUND:
The Company is a group
company of Italy based Nuova Simplast S.n.C Di Lorenzin V and Ci. Pioneers in
the field of Rotational Moulding. The Company was incorporated on January 24,
2007 and is engaged in the business of design, development, manufacturing and
marketing of plastic products. In the first phase of production the company has
planned to serve the requirement of Engineering Industries in India such as
Tractor manufacturing units who were previously being served from Italy based
plants.
COMPANY OVERVIEW:
The company was
incorporated in India on 24th Jan, 2007 and has started its commercial
production on 10th March, 2008.
The main object of
the company is to design, develop, manufacture and marketing of plastic
products.
FIXED ASSETS:
v Leasehold Land
v Building
v Plant and Machinery
v Furniture and Fixture
v Electric Installation
v Molds
v Tools Dies and Patterns
v Air Conditioner
v Inspection and Laboratory Equipment
v Computer
v Fire Fighting Equipment
v Office Equipment
v Refrigerator
v Software
v Vehicle
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 records 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.66.57 |
|
|
1 |
Rs.103.34 |
|
Euro |
1 |
Rs.88.16 |
INFORMATION DETAILS
|
Report Prepared
by : |
ANK |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--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 |
|
46 |
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 |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.