MIRA INFORM REPORT
|
Report Date : |
24.04.2014 |
IDENTIFICATION DETAILS
|
Name : |
SAPA EXTRUSION INDIA PRIVATE LIMITED (w.e.f. 31.12.2013) |
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Formerly Known
As : |
SAPA PROFILES INDIA PRIVATE LIMITED |
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Registered
Office : |
No. 17, II Floor, Bannerghatta Road, JP Nagar, 3rd Phase,
Bangalore - 560076, Karnataka |
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Country : |
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Financials (as
on) : |
31.03.2013 |
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Date of
Incorporation : |
02.07.2010 |
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Com. Reg. No.: |
08-063125 |
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Capital
Investment / Paid-up Capital : |
Rs. 1436.590 Millions |
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CIN No.: [Company Identification
No.] |
U28999KA2010FTC063125 |
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TAN No.: [Tax Deduction & Collection
Account No.] |
BLRS42521D |
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PAN No.: [Permanent Account No.] |
AAOCS4633C |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturing and Selling of Aluminium Profiles. |
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No. of Employees
: |
Not Divulged |
RATING & COMMENTS
|
MIRA’s Rating : |
B (26) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
USD 2940000 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate track record. The rating reflects moderate financial risk profile marked by
continuous accumulated losses incurred over year and below average financial
performance. However, trade relations are fair. Business is active. Payment terms
are slow. The company can be considered for business dealing with some 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 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
India |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
US investment bank
Goldman Sachs has upgraded its outlook on Indian markets as it expects
positive impact of the election cycle.
India’s economy may
grow 4.7 % in the current financial year, lower than the official estimate of
4.9 %, Fitch Rating said. The global rating agency expects the economy to pick
up in the next two financial years.
Global ratings
agency Standard & Poor said increasing focus by India Inc on lowering debt
is likely to improve their credit profiles.
Singapore (1.1
million Indian tourists in 2012), Thailand (one million), the United Arab
Emirates ().98 million) and Malaysia ().82 million) emerged as the preferred
holidays hotspots for Indians. The total figure is expected to increase to 1.93
million by 2017, according to the latest Eurmonitor international report.
There is a $29.34 bn
outward foreign direct investment by domestic companies between April and
January of 2013/14 which has seen some signs of recovery according to a Care
Ratings report.
There are 264 number
of new companies being set up every day on average during 2014. Most of them
are registered in Mumbai. India had 1.38 million registered companies at the
end of January, 2014.
Twitter like
messaging service Weibo Corporation has filed to raise $ 500 million via a US
initial public offering. Alibaba, which owns a stake in Weibo is expected to
raise about $ 15 billion New York this year in the highest profile Internet IPO
since Facebook’s in 2012.
Bharti Airtel has
raised Rs.2,453.2 crore (350 million Swiss Francs) by selling six-year bonds at
a coupon rate of three per cent and maturing in 2020. This is the largest ever
bond offering by an Indian company in Swiss Francs. Bharat Petroleum
Corporation raised 175 million Swiss Francs by selling five year bonds at 2.98
% coupon rate in February.
Indian Oil
Corporation plans to invest Rs 7650 crore in setting up a petrochemical complex
at its almost complete Paradip refinery in Odhisha in three to four years. The
company board is set to consider the setting up of a 700000 tonne per annum
polypropylene plant at an estimated cost at Rs.3150 crore.
Global chief
information officers at gathering in Bangalore in April to meet Indian startups
at an event called Tech50 Watchout for Little Eye Labs-Facebook type deals in
the making.
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
MANAGEMENT NON-COOPERATIVE (Tel. No.: 91-80-49020100)
LOCATIONS
|
Registered Office : |
No. 17, II Floor, Bannerghatta Road, JP Nagar, 3rd Phase,
Bangalore - 560076, Karnataka, India |
|
Tel. No.: |
91-80-49020100 |
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Fax No.: |
91-80-49020101 |
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E-Mail : |
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Website : |
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Factory 1 : |
Fabrication
Plant: 63-64, Bommasabdra Industrial Area, Anekal Taluka, Bangalore - 560099,
Karnataka, India |
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Tel. No.: |
91-80-27839861 |
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Fax No.: |
91-80-27839868 |
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Factory 2 : |
Extrusion Unit: Sy-255, 279 and 257, Industrial Park, C Block, Kuppam - 517425, Andhra
Pradesh, India |
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Tel. No.: |
91-8570-207499 |
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Fax No.: |
91-8570-255144 |
DIRECTORS
As on 30.09.2013
|
Name : |
Mr. Bharat Behal |
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Designation : |
Director |
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Address : |
C-1821, Sushant Lok, Phase-I, Gurgaon - 122001, Haryana, India |
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Date of Birth/Age : |
14.04.1967 |
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Date of Appointment : |
02.07.2010 |
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PAN No.: |
ACSPB5857G |
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DIN No.: |
00700772 |
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Other Directorship:
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Name : |
Kshemendranath Pudukudi |
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Designation : |
Chairman cum Managing Director |
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Address : |
Building No. 10, Flat No. 301, Swapnagiri Siddhachal Housing Complex,
Off Pokharan Road No. 2, , Thane (West), Thane - 400601, Maharashtra, India |
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Date of Birth/Age : |
16.09.1965 |
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Date of Appointment : |
02.07.2010 |
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PAN No.: |
AAFPP6395L |
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DIN No.: |
01628693 |
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Other Directorship:
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MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2013
|
Names of Shareholders |
No. of Shares |
|
Kshemendranath Pudukudi |
1 |
|
Sapa AB, Sweden |
14365899 |
|
Total |
14365900 |
Allottee as on 06.12.2013
|
Names of Allottee |
No. of Shares |
|
Sapa AB, Sweden |
1500000 |
|
Total |
1500000 |
As on 30.09.2013
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s),
Non-resident Indian(s) or Overseas Corporate bodies or Others |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing and Selling of Aluminium Profiles. |
PRODUCTION STATUS (As on 31.03.2011)
|
Particulars |
Installed
Capacity |
Actual
Production |
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Aluminium Profiles |
512 MT Per Annum |
8.693 MT |
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GENERAL INFORMATION
|
No. of Employees : |
Not Divulged |
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Bankers : |
Not Available |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
S.R. Batliboi and Company LLP Chartered Accountants |
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Address : |
UB City, Canberra Block, 12th and 13th Floor,
No. 24, Vittal Mallya Road, Bangalore-560001, Karnataka, India |
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Tel. No.: |
91-80-40275000 |
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Fax No.: |
91-80-22106000 |
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Income-tax
PAN of auditor or auditor's firm : |
AABFS3421N |
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Holding company: |
Sapa AB, Sweden |
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Ultimate Holding
Company: |
Orkla ASA, Norway |
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Fellow Subsidiary: |
· International CAD GN, Canada MTR Foods Private Limited, India CIN No.: U15136KA1996PTC021007 Orkla India Private Limited, India Sapa (Shanghai) Management Company Limited, China Sapa Aluminiun SP, Z.O.O. Poland Sapa Asia Private Limited, Hong Kong Sapa Building Systems International NV, Belgium Sapa Building Systems Private Limited, India CIN No.: U51909MH2011FTC214181 Sapa Canada Inc. Sapa France Sapa Gmbh Sapa H E Tubing Moneterrey Plant, USA Sapa Heat Transfer (Shanghai) Limited, China Sapa Heat Transfer Tube Gmbh Sapa Heat Transfer Tubes India Pvt Limited, India Sapa Industrial Extrusion Inc., USA Sapa Profiler AB, Sweden Sapa Profiles (Jiangyin) Company Limited, China Sapa Profiles (Shanghai) Company Limited, China Sapa Profiles Avintes S A, Portugal Sapa Profiles Inc., USA Sapa Profiles Portugal, SA Sapa Technologies GCC, Sweden Sapa Profiles Kft, Hungary Sapa Precision Tubing Pune Private Limited CIN No.: U28112PN2011FTC143531 Elkem South Asia Private Limited CIN No.: U99999MH1987FTC043668 Borregaard South Asia Private Limited CIN No.: U24297MH2011PTC214591 |
CAPITAL STRUCTURE
After 30.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
19,400,000 |
Equity Shares |
Rs.100/- each |
Rs. 1940.000 Millions |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
15,865,900 |
Equity Shares |
Rs.100/- each |
Rs. 1586.590 Millions |
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As on 30.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
19,400,000 |
Equity Shares |
Rs.100/- each |
Rs. 1940.000 Millions |
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|
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
14,365,900 |
Equity Shares |
Rs.100/- each |
Rs. 1436.590 Millions |
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|
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 |
1436.590 |
1381.750 |
10.000 |
|
(b) Reserves & Surplus |
(700.199) |
(392.250) |
(24.066) |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2)
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
736.391 |
989.500 |
(14.066) |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
0.586 |
0.532 |
0.000 |
|
(d) long-term
provisions |
2.397 |
1.801 |
0.237 |
|
Total Non-current
Liabilities (3) |
2.983 |
2.333 |
0.237 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
883.401 |
902.203 |
70.500 |
|
(b) Trade
payables |
138.294 |
287.148 |
10.106 |
|
(c) Other
current liabilities |
206.262 |
128.952 |
4.278 |
|
(d) Short-term
provisions |
4.454 |
2.938 |
0.670 |
|
Total Current
Liabilities (4) |
1232.411 |
1321.241 |
85.554 |
|
|
|
|
|
|
TOTAL |
1971.785 |
2313.074 |
71.725 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
1049.659 |
1099.515 |
48.314 |
|
(ii)
Intangible Assets |
212.646 |
269.765 |
0.606 |
|
(iii)
Capital work-in-progress |
41.726 |
0.000 |
0.000 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
124.968 |
101.670 |
7.816 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
1428.999 |
1470.950 |
56.736 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
118.113 |
422.383 |
7.836 |
|
(c) Trade
receivables |
302.878 |
369.117 |
0.888 |
|
(d) Cash
and cash equivalents |
16.140 |
35.860 |
4.375 |
|
(e)
Short-term loans and advances |
104.322 |
10.600 |
1.890 |
|
(f) Other
current assets |
1.333 |
4.164 |
0.000 |
|
Total
Current Assets |
542.786 |
842.124 |
14.989 |
|
|
|
|
|
|
TOTAL |
1971.785 |
2313.074 |
71.725 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
1536.448 |
572.091 |
3.061 |
|
|
|
Other Income |
0.003 |
1.641 |
1.143 |
|
|
|
TOTAL |
1536.451 |
573.732 |
4.204 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
1832.808 |
906.962 |
28.270 |
|
|
|
|
|
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|
PROFIT/
(LOSS) BEFORE TAX |
(296.357) |
(333.230) |
(24.066) |
|
|
|
|
|
|
|
|
|
Less |
TAX |
11.592 |
34.953 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
(307.949) |
(368.183) |
(24.066) |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
|
|
|
2.411 |
|
|
|
Commission Income |
|
|
0.612 |
|
|
TOTAL EARNINGS |
38.891 |
10.295 |
3.023 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
NA |
NA |
3.941 |
|
|
|
Capital Goods |
NA |
NA |
34.806 |
|
|
TOTAL IMPORTS |
NA |
NA |
38.747 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
(21.44) |
(26.65) |
NA |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
(20.04) |
(64.17) |
(572.45) |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
(19.29) |
(58.25) |
(786.21) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(15.35) |
(14.41) |
(33.55) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.40) |
(0.34) |
1.71 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
1.20 |
0.91 |
(5.01) |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.44 |
0.64 |
0.18 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Share Capital |
10.000 |
1381.750 |
1436.590 |
|
Reserves & Surplus |
(24.066) |
(392.250) |
(700.199) |
|
Net
worth |
(14.066) |
989.500 |
736.391 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
70.500 |
902.203 |
883.401 |
|
Total
borrowings |
70.500 |
902.203 |
883.401 |
|
Debt/Equity
ratio |
(5.012) |
0.912 |
1.200 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
3.061 |
572.091 |
1536.448 |
|
|
|
18,589.677 |
168.567 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
3.061 |
572.091 |
1536.448 |
|
Profit |
(24.066) |
(368.183) |
(307.949) |
|
|
(786.21%) |
(64.36%) |
(20.04%) |
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 |
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 |
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 |
Yes |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
No |
INDEX OF CHARGES: NO
CHARGES EXIST FOR COMPANY
UNSECURED LOANS
|
PARTICULAR |
31.03.2013 (Rs.
In Millions) |
31.03.2012 (Rs.
In Millions) |
|
SHORT TERM
BORROWINGS |
|
|
|
Rupee term loans from banks |
752.500 |
662.600 |
|
Foreign currency term loans from banks |
130.901 |
239.603 |
|
Total |
883.401 |
902.203 |
CORPORATE INFORMATION
The Company was incorporated on July 2, 2010 under the Companies Act, 1956 and is a subsidiary of Sapa AB, Sweden. The Company is engaged in manufacturing and sale of aluminium profiles.
OPERATIONS:
2012-13, was the first full year operation of the extrusion facility acquired in May 2011. The company has produced 7,030 MT of Aluminium extrusions and sold 7017 MT. This translates in to 350% growth over 2011-12 annualized sales volume.
Bommasandra facility has sold 61k pcs as compared to 54k pcs of fabricated heat sinks for the year 2011-12. Accordingly this has lead to 15% increase in the turnover due to increase in the customer base.
Further the heat transfer business has been discontinued from 2012-13 onwards and accordingly the results from this business are showed under discontinuing operations.
FIXED ASSETS
v
Tangible
Assets
Land
Buildings
Plant
and Machinery
Furniture
and Fixtures
Computers
Office
Equipment
Vehicles
Leasehold
Improvements
v Intangible Assets
Computer
Software
Non-Compete
Fees
Goodwill
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.60.71 |
|
|
1 |
Rs.102.04 |
|
Euro |
1 |
Rs.83.77 |
INFORMATION DETAILS
|
Information
Gathered by : |
NYA |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
MRI |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
-- |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
|
26 |
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.