|
Report Date : |
11.08.2014 |
IDENTIFICATION DETAILS
|
Name : |
WIN PENS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Suite No. 13, 1st Floor, Karnani Estate, 209, A. J. C. Bose
Road, Kolkata – 700017, West Bengal |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
26.03.2007 |
|
|
|
|
Com. Reg. No.: |
21-114644 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.15.305 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U51909WB2007PTC114644 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer and Exporter of Corporate Pens, Ink Pens, Ball Pens, Gel
Pens, Highlighters, Mechanical Pencils, Other Writing Instruments. |
|
|
|
|
No. of Employees
: |
Not Divulged |
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 240000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track record. Management has reported a drastic dip in its net profitability during
FY 2013. Trade relations are fair. Business is active. Payment terms are
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 – June 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
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
N E W S
As per the latest IMF study, the total weigh of emerging markets in the
GDP of the world on a purchasing power parity basis has seen a sizeable shift.
It highlights how as against 51 % in 2005, the emerging economies now account
for close to 56 % of the global purchasing power GDP as per the latest survey.
And with the emerging economies growing at a faster rate than their developed
counterparts, there are every possibility that the their share goes up further
in the coming years. China may surpass the US over the next few years.
Politics and economics are very intricately connected. They tend to
influence each other in ways that could be very complex and far-reaching. The
prospects of the India’s economy have been seriously compromised due to
political corruption. High inflation, poor standard of living are to a great
extent a result of rampant corruption in the country. China on the other hand,
seems to be facing diametrically opposite challenge. American hedge fund
manager Jim Chanos has been keenly following the political and economic
development in the dragon economy and has figured out something that is quite
worrying. He is of the view that the Chinese economy could be heading toward
trouble on account of new Chinese President Xi Jingping’s very aggressive
anti-corruption drive. Chanos believes tat many things such as apartment sales,
luxury products, etc. were largely bought with dirty money. And it is now
beginning to impact consumption. This may indeed be bad news for an economy
that is struggling to transition from an investment-driven export-oriented
economy to a domestic consumption-driven economy.
A study published by Firstpost has revealed that asset classes like real
estate and equities were the biggest beneficiaries of the liberalization policies.
A firm called Ciane Analytics studied returns from assets including
equities, gold, fixed deposits, G-Secs and real estate since 1991. Real estate
outperformed every other asset classes during the 23-year period with an
annualized return of 20 % ! Equities came in second with annualized return of
15.5 % ! However, while these returns may seem mouthwatering, the fact is that
the return from equities adjusted for inflation came down to just 7.1 %.
Some brief news are as under
. R-Power to buy Jaypee’s hydro assets
. Investors await justice in NSEL case
. India seeks MFN status from Pakistan ahead of meeting
. Ukrain’s clashes with rebels hinder MH17 crash investigation
. India exploring merger of state-owned hydro PSUs
..Higher costs weigh down profit growth to slowest in 9 quarters
..Wal-Mart to expand wholesale business in India
. GMR group moves to strengthen balance sheet
. Central Bank to sell 4 % stake to Life Insurance Corporation
. Tata Chemicals plans to raise up to Rs 10000 mn.
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
31-03-2014.
INFORMATION DENIED BY
|
Name : |
Ms. Supriya |
|
Designation : |
Not Divulged |
|
Contact No.: |
91-33-30285011 |
|
Date : |
31.07.2014 |
LOCATIONS
|
Registered Office / Factory: |
Suite No. 13, 1st Floor, Karnani Estate, 209, A. J. C. Bose
Road, Kolkata – 700017, West Bengal, India |
|
Tel. No.: |
91-33-30285009 / 6634 / 7332 / 30285011 / 30285010 |
|
Mobile No.: |
91-9920172723 (Mr. Sunil Saraf) |
|
Fax No.: |
91-33-30285008 |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
4500 sq. ft. |
|
Location : |
Owned |
DIRECTORS
AS ON 30.09.2013
|
Name : |
Mr. Naresh Kumar Jalan |
|
Designation : |
Director |
|
Address : |
DB – 124, 2nd Floor, Sector – I, |
|
Date of Birth/Age : |
17.08.1963 |
|
Date of Appointment : |
26.03.2007 |
|
PAN No.: |
ACRPJ8748F |
|
DIN No.: |
00986219 |
|
|
|
|
Name : |
Mr. Manish Jalan |
|
Designation : |
Director |
|
Address : |
DB 124, 2nd Floor, Sector – I, |
|
Date of Birth/Age : |
20.07.1979 |
|
Date of Appointment : |
26.03.2007 |
|
Voter ID No.: |
DPDO689384 |
|
DIN No.: |
00986257 |
|
|
|
|
Name : |
Mr. Sushil Kumar Bubna |
|
Designation : |
Director |
|
Address : |
Flat No. 3B, 3rd Floor, Parima Fa – 2, Desh Bandhu Nagar,
Gagui Kolkata – 700059, West Bengal, India |
|
Date of Birth/Age : |
17.06.1977 |
|
Date of Appointment : |
02.05.2007 |
|
PAN No.: |
APQPB6979N |
|
DIN No.: |
01445179 |
MAJOR SHAREHOLDERS
AS ON 30.09.2013
|
Names of Shareholders |
No. of Shares |
|
Jalan Kumar Naresh |
732000 |
|
Jalan Manish |
492500 |
|
Jalan Ramawatar |
1000 |
|
Jalan Devi Santosh |
1000 |
|
Jalan Pradeep |
4000 |
|
Jalan Anuja |
1000 |
|
Jalan Vandana |
1000 |
|
Jalan Saroj |
1000 |
|
Manish Jalan (HUF) |
1000 |
|
Naresh Jalan (HUF) |
132500 |
|
Bubna Kumar Sushil |
42500 |
|
(Minor) Jalan Vaibhav |
23000 |
|
(Minor) Jalan Nakul |
34000 |
|
Sanchit Vayapaar Private Limited, |
64000 |
|
|
|
|
Total |
1530500 |
Equity Share Break up (Percentage of Total Equity)
AS ON 30.09.2013
|
Category |
Percentage |
|
Bodies corporate |
4.18 |
|
Directors or relatives of Directors |
95.82 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Corporate Pens, Ink Pens, Ball Pens, Gel
Pens, Highlighters, Mechanical Pencils, Other Writing Instruments. |
||||||||
|
|
|
||||||||
|
Products : |
|
GENERAL INFORMATION
|
No. of Employees : |
Not Divulged |
||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||
|
Bankers : |
Indian Overseas Bank, Lansdowne Market Branch, 63/1A, |
||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Bhalotia Associates Chartered Accountants |
|
Address : |
Suite No. 50, 2nd Floor, Karnani Estate, 209, AJC Bose Road, Kolkata –
700017, West Bengal, India |
|
PAN No.: |
AAFFB1784K |
|
|
|
|
Related Parties
: |
·
Shree Shagun Tradecom Private Limited ·
Win Pen and Plastics ·
Print Sutra ·
Shrest International |
CAPITAL STRUCTURE
AS ON 30.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5000000 |
Equity Shares |
Rs.10/- each |
Rs.50.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1530600 |
Equity Shares |
Rs.10/- each |
Rs.15.306 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 |
15.305 |
15.305 |
15.305 |
|
(b) Reserves & Surplus |
45.051 |
37.728 |
27.624 |
|
(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) |
60.356 |
53.033 |
42.929 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
28.634 |
19.155 |
17.561 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.132 |
|
(c) Other long term liabilities |
11.035 |
11.035 |
9.535 |
|
(d) long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current Liabilities (3) |
39.669 |
30.190 |
27.228 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
7.327 |
11.841 |
6.603 |
|
(b)
Trade payables |
44.305 |
88.882 |
56.778 |
|
(c)
Other current liabilities |
12.106 |
8.829 |
12.525 |
|
(d) Short-term
provisions |
0.078 |
2.058 |
0.273 |
|
Total Current Liabilities (4) |
63.816 |
111.610 |
76.179 |
|
|
|
|
|
|
TOTAL |
163.841 |
194.833 |
146.336 |
|
|
|
|
|
|
II. ASSETS |
|
|
|
|
(1) Non-current
assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
44.722 |
35.918 |
21.797 |
|
(ii)
Intangible Assets |
0.495 |
0.531 |
0.490 |
|
(iii)
Capital work-in-progress |
0.000 |
0.000 |
3.730 |
|
(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) |
0.693 |
0.011 |
0.000 |
|
(d) Long-term Loan and Advances |
3.761 |
2.987 |
3.574 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
49.671 |
39.447 |
29.591 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
58.951 |
56.529 |
59.481 |
|
(c)
Trade receivables |
35.015 |
80.054 |
37.643 |
|
(d) Cash
and cash equivalents |
13.449 |
16.554 |
15.181 |
|
(e)
Short-term loans and advances |
6.755 |
2.249 |
4.360 |
|
(f)
Other current assets |
0.000 |
0.000 |
0.080 |
|
Total Current Assets |
114.170 |
155.386 |
116.745 |
|
|
|
|
|
|
TOTAL |
163.841 |
194.833 |
146.336 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
|
|
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL |
704.584 |
770.058 |
680.368 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
679.536 |
744.539 |
663.965 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
25.048 |
25.519 |
16.403 |
|
|
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
14.108 |
10.202 |
6.729 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
10.941 |
15.317 |
9.674 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
3.619 |
5.213 |
3.030 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX |
7.322 |
10.104 |
6.644 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials and Components and Spares |
NA |
NA |
33.379 |
|
|
|
Trading Goods and Others |
NA |
NA |
52.739 |
|
|
|
Capital Goods |
NA |
NA |
11.783 |
|
|
TOTAL IMPORTS |
NA |
NA |
97.901 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
4.78 |
6.60 |
4.34 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
1.04 |
1.31 |
0.98 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
6.71 |
7.86 |
6.78 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.18 |
0.29 |
0.23 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.60 |
0.58 |
0.56 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.79 |
1.39 |
1.53 |
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 |
15.305 |
15.305 |
15.305 |
|
Reserves & Surplus |
27.624 |
37.728 |
45.051 |
|
|
0.000 |
0.000 |
0.000 |
|
Net
worth |
42.929 |
53.033 |
60.356 |
|
|
|
|
|
|
long-term borrowings |
17.561 |
19.155 |
28.634 |
|
Short term borrowings |
6.603 |
11.841 |
7.327 |
|
Total
borrowings |
24.164 |
30.996 |
35.961 |
|
Debt/Equity
ratio |
0.563 |
0.584 |
0.596 |
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 |
680.368 |
770.058 |
704.584 |
|
|
|
13.183 |
(8.502) |
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
|
680.368 |
770.058 |
704.584 |
|
Profit |
6.644 |
10.104 |
7.322 |
|
|
0.98% |
1.31% |
1.04% |
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 |
Yes |
|
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 |
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 |
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 |
UNSECURED LOANS:
|
Particulars |
31.03.2013 Rs. In Millions |
31.03.2012 Rs. In Millions |
|
Long Term Borrowings |
|
|
|
Loans and
advances from related parties |
14.912 |
6.205 |
|
Loans and
advances from others |
13.600 |
12.600 |
|
|
|
|
|
Total |
28.512 |
18.805 |
INDEX OF CHARGE:
|
Sr. No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10417858 |
27/05/2013
* |
42,500,000.00 |
DBS
BANK LTD. |
4A,
NANDALAL BASU SARANI, KOLKATA, WEST BENGAL - 700071, INDIA |
B75988675 |
*Date of modification Charges
FIXED ASSETS:
·
Freehold Land
·
Factory Building
·
Plant and Machinery
·
Cylinder Pouch
·
Factory Electrical
Installation
·
Weighing Scales
·
Plastic Pen Moulds
·
Electrical Fittings
·
Computers
·
Cellular Phones
·
Air Conditioners
·
Fire Fighting Equipment
·
Motor Cars
·
Furniture and Fixture
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.61.56 |
|
|
1 |
Rs.103.50 |
|
Euro |
1 |
Rs.82.41 |
INFORMATION DETAILS
|
Information
Gathered by : |
PRT |
|
|
|
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
NKT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--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 |
|
43 |
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.