MIRA
INFORM REPORT
|
Report Date : |
14.04.2014 |
IDENTIFICATION DETAILS
|
Name : |
ADVY CHEMICAL PRIVATE
LIMITED |
|
|
|
|
Registered
Office : |
17th Floor, Hoechst
House, Nariman Point, Mumbai – 400 021, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
22.10.2010 |
|
|
|
|
Com. Reg. No.: |
11-209352 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs.40.000
millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24297MH2010PTC209352 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject is engaged in
manufacturing, dealing and trading in laboratory chemicals and diagnostic
reagents. |
|
|
|
|
No. of Employees
: |
120 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (44) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 286000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an
established company having satisfactory track record. Overall financial
position of the company is decent. However, trade
relations are reported to be fair. Business is active. Payments are reported
to be usually correct. The company can
be considered normal for business dealings at usual trade terms and
conditions. |
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 – December 1, 2013
|
Country Name |
Previous Rating (30.09.2013) |
Current Rating (01.12.2013) |
|
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
India’s current account deficit for the fiscal third quarter ended September
2013 narrowed to $4.2 billion or 0.9 % of the gross domestic product from $31.9
billion or 6.5 % of GDP a year earlier, thanks to a pick-up in exports and
moderation in gold imports. Manufacturing activity and new orders in India
showed their strongest growth in a year in February. The news comes as a relief
after data showed Asia’s third largest economy grew by a slower-than-expected
4.7 % annually in the three months through December. The HSBC Manufacturing
Purchasing Managers’ Index which gauges the business activity of India’s
factories but not its’ utilities, rose to 52.5 in February, its highest in a
year from 51.4 in January. Overall new orders for factory goods which rose to a
one-year high of 54.9 contributed to the surge. China has emerged as India’s
biggest trading partner in the current financial year replacing the United Arab
Emirates and pushing it to the third spot. India-China trade has reached $49.5
billion with a 8.7 % share in India’s total trade. The US comes second at $46
billion with 8.1 % share during the first nine months of the current financial
year.
The Reserve Bank of India has granted an additional nine months to the
public to exchange currency notes printed before 2005 including Rs 500 and Rs
1,000 denominations, pushing the deadline to January 1, 2015. A day before
dates for the Lok Sabha polls were announced, the government decided to hike
interest rates on fixed deposit schemes offered by post offices up to 0.2 per
cent. The new rates will be effective April, 1. The Supreme Court will resume
hearing on March, 11 Nokia’s appeal against a ruling over transferring
ownership of its local mobile phones plant which is the subject of a tax
dispute to Microsoft Corp.
In the last days of the current Government, another scam has surfaced.
The defence ministry has ordered a probe into Hindustan Aeronautics Limited’s
contracts from Britain’s Rolls-Royce Holdings worth at least $ 1.2 billion. The
Central Bureau of Investigation will look into allegations that over $80
million was paid in kickbacks in a deal signed in 2011. India has asked Boeing
Co. to find a solution for problems with state-owned Air India’s 787
Dreamliners. The aircraft has experienced a series of malfunctions since its
debut in 2011.
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 PARTED BY
|
Name : |
Mr. Rajiv Singh |
|
Designation : |
Senior General Manager |
|
Contact No.: |
91-9004075243 |
|
Date : |
03.04.2014 |
LOCATIONS
|
Registered Office/ Corporate Office : |
17th Floor,
Hoechst House, Nariman Point, Mumbai – 400 021, Maharashtra, India |
|
Tel. No.: |
91-22-66560900 |
|
Mobile No.: |
91-9004075243 (Mr. Rajiv) |
|
Fax No.: |
91-22-67522699 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Factory : |
Plot No.A-334/336/338, Road No.26, Wagle Industrial Estate, Near Wagle
Bus Depot, Thane (West), Thane – 400 604, Maharashtra, India |
|
Tel. No.: |
91-22-25830326 |
|
Fax No.: |
91-22-25830311 |
|
Location : |
Owned |
DIRECTORS
AS ON 18.07.2013
|
Name : |
Dr. Gautam Vinod Daftary |
|
Designation : |
Director |
|
Address : |
11, Sneh Sadan, 3rd
Floor, 114, Churchgate Reclamation, Road No.4, Mumbai – 400 020, Maharashtra,
India |
|
Date of Birth/Age : |
03.10.1959 |
|
Date of Appointment : |
22.10.2010 |
|
DIN No.: |
00009326 |
|
|
|
|
Name : |
Mr. Bharat Vinod Daftary |
|
Designation : |
Director |
|
Address : |
Sneh Sadan, Flat No.9/11,
Churchgate Reclamation, Road No.4, Mumbai – 400 020, Maharashtra, India |
|
Date of Birth/Age : |
12.01.1956 |
|
Date of Appointment : |
22.10.2010 |
|
DIN No.: |
00011518 |
|
|
|
|
Name : |
Mr. Siddharth Bharat Daftary |
|
Designation : |
Director |
|
Address : |
Sneh Sadan, 114,
Churchgate Reclamation, Mumbai – 400 020, Maharashtra, India |
|
Date of Birth/Age : |
28.12.1983 |
|
Date of Appointment : |
22.10.2010 |
|
DIN No.: |
02897197 |
KEY EXECUTIVES
|
Name : |
Mr. Rajiv Singh |
|
Designation : |
Senior General Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 18.07.2013
|
Names of Shareholders |
No. of Shares |
Percentage of Holding |
|
Siddharth
B. Daftary |
6000 |
1.50 |
|
Bharat
V. Daftary |
191000 |
47.75 |
|
Ansuya
Vinod Daftary |
2000 |
0.50 |
|
Aarti
Gautam Daftary |
2000 |
0.50 |
|
Akshay
Gautam Daftary |
6000 |
1.50 |
|
Bhavana
Bharat Daftary |
2000 |
0.50 |
|
Gautam
Vinod Daftary |
191000 |
47.75 |
|
Total
|
400000 |
100.00 |
AS ON 18.07.2013
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Directors
or relatives of directors |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in
manufacturing, dealing and trading in laboratory chemicals and diagnostic
reagents. |
|
|
|
|
Terms : |
|
|
Selling : |
Cheque |
|
|
|
|
Purchasing : |
Cheque |
GENERAL INFORMATION
|
No. of Employees : |
120 (Approximately) |
||||||||||||
|
|
|
||||||||||||
|
Bankers : |
Bank
of Baroda, Backbay Reclamation Branch, Ram Mahal, Backbay Reclamation, Mumbai
– 400 020, Maharashtra, India |
||||||||||||
|
|
|
||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
M.M. Nissim and Company Chartered Accountants |
|
Address : |
Barodawala Mission, B-Wing, 3rd Floor, 81, Dr. Annie Basent
Road, Worli, Mumbai – 400 018, Maharashtra, India |
|
Tel. No.: |
91-22-24949991 |
|
Fax No.: |
91-22-24949995 |
|
PAN No.: |
AAAFM5103E |
|
|
|
|
Subsidiary Company : |
ADVY Japan Company Limited, Japan |
CAPITAL STRUCTURE
AS ON 18.07.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
450000 |
Equity Shares |
Rs.100/- each |
Rs.45.000 millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
400000 |
Equity Shares |
Rs.100/-
each |
Rs.40.000
millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1) Shareholders' Funds |
|
|
|
|
(a) Share Capital |
40.000 |
40.000 |
10.000 |
|
(b) Reserves & Surplus |
31.602 |
17.736 |
10.678 |
|
(c) Money received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
0.000 |
0.000 |
30.000 |
|
Total
Shareholders’ Funds (1) + (2) |
71.602 |
57.736 |
50.678 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) Long-term borrowings |
55.910 |
55.910 |
2.241 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.097 |
|
(c) Other long
term liabilities |
0.000 |
0.000 |
0.000 |
|
(d) Long-term
provisions |
4.782 |
3.731 |
0.000 |
|
Total Non-current
Liabilities (3) |
60.692 |
59.641 |
2.338 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
65.262 |
47.863 |
81.724 |
|
(b)
Trade payables |
0.811 |
2.996 |
3.583 |
|
(c)
Other current liabilities |
4.110 |
4.037 |
2.549 |
|
(d) Short-term
provisions |
2.970 |
1.386 |
3.214 |
|
Total Current
Liabilities (4) |
73.153 |
56.282 |
91.070 |
|
|
|
|
|
|
TOTAL |
205.447 |
173.659 |
144.086 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i)
Tangible assets |
53.908 |
53.141 |
45.233 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
25.220 |
0.133 |
0.000 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
3.316 |
3.316 |
3.306 |
|
(c) Deferred tax assets (net) |
2.010 |
0.941 |
0.000 |
|
(d) Long-term Loan and Advances |
9.265 |
8.098 |
5.516 |
|
(e) Other
Non-current assets |
0.138 |
0.204 |
0.240 |
|
Total Non-Current
Assets |
93.857 |
65.833 |
54.295 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
52.306 |
54.072 |
52.830 |
|
(c)
Trade receivables |
44.555 |
41.600 |
27.998 |
|
(d) Cash
and cash equivalents |
5.105 |
5.549 |
2.976 |
|
(e)
Short-term loans and advances |
9.624 |
6.605 |
5.987 |
|
(f)
Other current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
111.590 |
107.826 |
89.791 |
|
|
|
|
|
|
TOTAL |
205.447 |
173.659 |
144.086 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from operations |
158.214 |
114.025 |
69.124 |
|
|
|
Other Income |
3.041 |
4.093 |
0.571 |
|
|
|
TOTAL |
161.255 |
118.118 |
69.695 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
Less |
TAX |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX |
13.867 |
7.058 |
10.678 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export of goods on FOB basis |
121.757 |
86.630 |
56.693 |
|
|
|
Dividend from a foreign subsidiary |
|
0.187 |
0.000 |
|
|
TOTAL EARNINGS |
121.757 |
86.817 |
56.693 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
NA |
2.948 |
5.152 |
|
|
|
Reagents and Chemicals |
NA |
0.134 |
0.055 |
|
|
|
Testing Kits |
NA |
0.468 |
0.239 |
|
|
|
Finished Goods |
NA |
0.121 |
0.259 |
|
|
|
Capital Goods |
NA |
2.624 |
0.000 |
|
|
TOTAL IMPORTS |
NA |
6.295 |
5.705 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
34.67 |
17.65 |
NA |
|
|
Particulars |
|
|
31.03.2014 |
|
Sales Turnover (Approximately) |
|
|
280.000 |
|
|
|
|
|
The above information has been parted by Mr. Rajiv Singh (Senior General
Manager).
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
8.60
|
5.98 |
15.32 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
1.69
|
1.80 |
1.66 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.53
|
1.92 |
0.99 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(INR in Mlns.) |
(INR in Mlns.) |
(INR in Mlns.) |
|
Share Capital |
10.000 |
40.000 |
40.000 |
|
Reserves & Surplus |
10.678 |
17.736 |
31.602 |
|
Share
Application money pending allotment |
30.000 |
0.000 |
0.000 |
|
Net worth |
50.678 |
57.736 |
71.602 |
|
|
|
|
|
|
Long-term borrowings |
2.241 |
55.910 |
55.910 |
|
Short term borrowings |
81.724 |
47.863 |
65.262 |
|
Total borrowings |
83.965 |
103.773 |
121.172 |
|
Debt/Equity ratio |
1.657 |
1.797 |
1.692 |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(INR in Mlns) |
(INR in Mlns) |
(INR in Mlns) |
|
Revenue from operations |
69.124 |
114.025 |
158.214 |
|
|
|
64.957 |
38.754 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(INR in Mlns) |
(INR in Mlns) |
(INR in Mlns) |
|
Revenue from operations |
69.124 |
114.025 |
158.214 |
|
Profit |
10.678 |
7.058 |
13.867 |
|
|
15.45% |
6.19% |
8.76% |
LOCAL AGENCY FURTHER INFORMATION
|
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 |
Yes |
|
9) Name of person contacted |
Yes |
|
10) Designation of contact person |
Yes |
|
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 |
No |
|
18) Major customers |
No |
|
19) Payments terms |
Yes |
|
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 |
Yes |
|
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 |
INDEX OF CHARGES:
|
S. No |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number
(SRN) |
|
1 |
10261863 |
28/11/2013 * |
65,000,000.00 |
BANK OF BARODA |
BACKBAY RECLAMATION
BRANCH, RAM MAHAL, BACKBAY RECLAMATION, MUMBAI, MAHARASHTRA - 400020, INDIA |
B90682261 |
* Date of charge modification
|
Unsecured Loans |
31.03.2013 (Rs. in Millions) |
31.03.2012 (Rs. in Millions) |
|
LONG TERM BORROWINGS |
|
|
|
From Related Parties |
|
|
|
- Loan from
Directors |
27.910 |
27.910 |
|
- Loan from Shareholders |
6.400 |
6.400 |
|
From Other
Shareholders |
21.600 |
21.600 |
|
SHORT TERM BORROWINGS |
|
|
|
From Related Parties |
|
|
|
- Loan from
Directors |
13.835 |
10.021 |
|
- Loan from Shareholders |
12.858 |
12.958 |
|
From Other
Shareholders |
2.500 |
0.000 |
|
Total |
85.103 |
78.889 |
FIXED ASSETS:
·
Freehold Land
·
Buildings
·
Leasehold Improvements
·
Plant and Machinery
·
Furniture and Fixtures
·
Office Equipment
·
Computer
·
Live Stock
·
Vehicles
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.60.27 |
|
UK Pound |
1 |
Rs.101.10 |
|
Euro |
1 |
Rs.83.74 |
INFORMATION DETAILS
|
Information
Gathered by : |
GAY |
|
|
|
|
Analysis Done by
: |
SUM |
|
|
|
|
Report Prepared
by : |
SMN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--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 |
|
44 |
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.