MIRA INFORM REPORT
|
Report Date : |
18.12.2014 |
IDENTIFICATION DETAILS
|
Name : |
ZUARI ROTEM SPECIALITY FERTILIZERS LIMITED |
|
|
|
|
Registered
Office : |
Jai Kisaan Bhawan, Zuari Nagar, Vasco – 403726, |
|
|
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|
Country : |
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|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
15.11.2007 |
|
|
|
|
Com. Reg. No.: |
24-005489 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.69.150 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U01409GA2007PLC005489 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
BLRZ10952E |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACZ3153A |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
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Line of Business
: |
Manufacture and Importer of water soluble of Fertilizers. |
|
|
|
|
No. of Employees
: |
249 (Approximately) (14 Permanent + 235 Contractor labour) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (41) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
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|
|
Payment Behaviour : |
Slow but correct |
|
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|
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Litigation : |
Clear |
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|
Comments : |
Subject is a 50:50 joint venture between Zuari Agro Chemicals Limited
and Rotem Amfert Negev Limited (RANL), It is an established company having satisfactory track record. The company has incurred a loss during FY 2014 however the company
receives strong support from its joint venture entities. Trade relations are reported as fair. Business is active. Payment
terms are reported to be slow but 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.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
|
Rating |
Fund Based : BBB |
|
Rating Explanation |
Moderate degree of safety and carry moderate credit risk. |
|
Date |
July 2014 |
|
Rating Agency Name |
ICRA |
|
Rating |
Non Fund Based : A3+ |
|
Rating Explanation |
Moderate degree of safety and carry high credit risk. |
|
Date |
July 2014 |
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 PARTED BY
|
Name : |
Mr. Suraj Sharma |
|
Designation : |
Head Operations |
|
Contact No.: |
91-9850033545 |
|
Date : |
17.12.2014 |
LOCATIONS
|
Registered Office/ Corporate Office/ Factory 1 : |
Jai Kisaan Bhawan, Zuari Nagar, Vasco – 403 726, |
|
Tel. No.: |
91-832-2592431/ 2592180 |
|
Mobile No.: |
91-9850033545 (Mr. Suraj Sharma) |
|
Fax No.: |
91-832-2555279 |
|
E-Mail : |
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|
Website : |
|
|
|
|
|
Factory 2 : |
Located at:
|
DIRECTORS
As on 24.09.2014
|
Name : |
Ms. Kirti Mohan Naithani |
|
Designation : |
Director |
|
Address : |
H No. 14, |
|
Date of Birth/Age : |
27.07.1952 |
|
Qualification: |
BE Mech, Post Graduate in Management |
|
Date of Appointment : |
19.11.2007 |
|
DIN No.: |
01156617 |
|
|
|
|
Name : |
Mr. Narayanan Suresh Krishnan |
|
Designation : |
Director |
|
Address : |
B 1 Zill Residential Colony, Zuari Nagar, 403726 |
|
Date of Birth/Age : |
03.06.1964 |
|
Qualification: |
BE (Hons) MSC |
|
Date of Appointment : |
08.08.2012 |
|
DIN No.: |
00021965 |
|
|
|
|
Name : |
Mr. Naveen Kumar Kapoor |
|
Designation : |
Chairman |
|
Address : |
B 6, Zil Colony, Zauri Nagar, Vasco – 403726, |
|
Date of Birth/Age : |
15.09.1953 |
|
Date of Appointment : |
19.11.2007 |
|
DIN No.: |
01680157 |
|
|
|
|
Name : |
Mr. Karl Peter Mielke |
|
Designation : |
Director appointed in casual vacancy |
|
Address : |
Fluitekruid 36, Mijdecht 3641VK, |
|
Date of Birth/Age : |
22.11.1961 |
|
Date of Appointment : |
06.01.2014 |
|
DIN No.: |
06852866 |
|
|
|
|
Name : |
Mr. Rajeev Sinha |
|
Designation : |
Alternate director |
|
Address : |
F 301 Essel Twoer, Gurgaon – 122001, |
|
Date of Birth/Age : |
24.08.1957 |
|
Qualification: |
Master in History, Post graduate Diploma in Marketing and HR
and Business Management |
|
Date of Appointment : |
30.04.2014 |
|
DIN No.: |
01156651 |
KEY EXECUTIVES
|
Name : |
Mr. Sachin Shankar Patil |
|
Designation : |
Secretary |
|
Address : |
Plot No. 30, Saraf Colony, Tilakwadi, Belgaum – 590006, Karnataka,
India |
|
Date of Birth/Age : |
16.11.1986 |
|
Date of Appointment : |
23.07.2013 |
|
Pan No.: |
BGZPP4332A |
|
|
|
|
Name : |
Mr. Suraj Sharma |
|
Designation : |
Head Operations |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 24.09.2014
|
Names of Shareholders |
|
No. of Shares |
|
Zuari Agro Chemicals Limited jointly with Mr. Narayanan Suresh Krishnan |
|
10 |
|
Zuari Agro Chemicals Limited jointly with Mr. Albert Mascarenhas |
|
10 |
|
Zuari Agro Chemicals Limited jointly with Mr. George Ninan |
|
10 |
|
Zuari Agro Chemicals Limited jointly with Mr. Patil Y. Ramakrishna |
|
10 |
|
Zuari Agro Chemicals Limited jointly with Mr. Alex Pacheco |
|
10 |
|
Zuari Agro Chemicals Limited jointly with Mr. R.K. Gupta |
|
10 |
|
Zuari Agro Chemicals Limited jointly with Mr. H.C. Shah |
|
10 |
|
M/s. Zuari Agro Chemicals Limited |
|
3457431 |
|
M/s. Rotem Amfert Negev Limited |
|
3457501 |
|
TOTAL
|
|
6915002 |
Equity Share Break up (Percentage of Total Equity)
As on 24.09.2014
|
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 |
50.00 |
|
Bodies corporate |
50.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacture and Importer of water soluble of Fertilizers. |
|
|
|
|
Brand Names : |
Not Divulged |
|
|
|
|
Agencies Held : |
Not Divulged |
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Exports : |
Not Divulged |
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Imports : |
|
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Products : |
Raw Material |
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Countries : |
|
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|
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Terms : |
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Selling : |
L/C, Cash and Credit |
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|
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Purchasing : |
L/C, Cash and Credit |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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No. of Employees : |
249 (Approximately) (14 Permanent + 235 Contractor labour) |
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Bankers : |
Corporation Bank, Vasco -da -Gama Branch,
Raghunath Apartments, F. L. Gomes Road, P. B. 86, Vasco da Gama -
403802, Goa, India |
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Facilities : |
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Banking
Relations : |
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Auditors : |
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|
Name : |
SRBC and Company LLP Chartered Accountant |
|
Address : |
C-401, 4th Floor, Panchshil Tech Park, Yerwada, Pune -
411006, Maharashtra, India |
|
PAN N Income-tax PAN of auditor or auditor's firm : |
ABSFS4151K |
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Memberships : |
-- |
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Collaborators : |
-- |
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Joint venture: |
|
CAPITAL STRUCTURE
As on 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
7000000 |
Equity Shares |
Rs.10/- each |
Rs.70.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
6915002 |
Equity Shares |
Rs.10/- each
|
Rs.69.150
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES
OF FUNDS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
69.150 |
69.150 |
69.150 |
|
(b) Reserves & Surplus |
4.094 |
41.197 |
32.585 |
|
(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) |
73.244 |
110.347 |
101.735 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
31.290 |
62.550 |
|
(b) Deferred tax liabilities
(Net) |
20.002 |
17.991 |
14.501 |
|
(c) Other long term
liabilities |
9.204 |
8.523 |
0.000 |
|
(d) long-term provisions |
0.394 |
0.164 |
0.213 |
|
Total
Non-current Liabilities (3) |
29.600 |
57.968 |
77.264 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
70.899 |
120.911 |
40.483 |
|
(b) Trade payables |
91.553 |
139.726 |
23.526 |
|
(c) Other current liabilities |
34.098 |
36.129 |
37.637 |
|
(d) Short-term provisions |
0.389 |
0.400 |
0.239 |
|
Total
Current Liabilities (4) |
196.939 |
297.166 |
101.885 |
|
|
|
|
|
|
TOTAL |
299.783 |
465.481 |
280.884 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
161.086 |
168.328 |
171.465 |
|
(ii) Intangible Assets |
0.022 |
0.019 |
0.007 |
|
(iii) Capital work-in-progress |
0.000 |
0.231 |
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 |
7.717 |
7.745 |
6.589 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
168.825 |
176.323 |
178.061 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
81.816 |
87.684 |
59.042 |
|
(c) Trade receivables |
23.408 |
177.794 |
14.577 |
|
(d) Cash and cash equivalents |
1.544 |
3.315 |
24.318 |
|
(e) Short-term loans and
advances |
24.190 |
20.365 |
4.886 |
|
(f) Other current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
130.958 |
289.158 |
102.823 |
|
|
|
|
|
|
TOTAL |
299.783 |
465.481 |
280.884 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Income |
370.951 |
406.212 |
506.484 |
|
|
Other Income |
4.396 |
0.746 |
0.562 |
|
|
TOTAL
(A) |
375.347 |
406.958 |
507.046 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
136.462 |
268.250 |
293.925 |
|
|
Purchases of Stock-in-Trade |
170.434 |
81.260 |
37.944 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
5.908 |
(31.986) |
41.128 |
|
|
Employees benefits expense |
5.282 |
6.051 |
5.682 |
|
|
Other expenses |
68.737 |
43.431 |
77.552 |
|
|
Prior period items |
0.392 |
0.440 |
0.280 |
|
|
TOTAL
(B) |
387.215 |
367.446 |
456.511 |
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (C) |
(11.868) |
39.512 |
50.535 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
15.021 |
16.807 |
20.367 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
(26.889) |
22.705 |
30.168 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION (F) |
8.204 |
8.040 |
7.707 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F) (G) |
(35.093) |
14.665 |
22.461 |
|
|
|
|
|
|
|
Less |
TAX
(I) |
2.010 |
6.053 |
8.081 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-I)
(J) |
(37.103) |
8.612 |
14.380 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw materials and traded goods
* * Excludes material movement
charges paid from port to factory |
232.493 |
307.950 |
265.996 |
|
|
TOTAL
IMPORTS |
232.493 |
307.950 |
265.996 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
(5.37) |
1.25 |
2.08 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
(10.00) |
2.12 |
2.84 |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
(3.20) |
9.73 |
9.98 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(11.71) |
3.15 |
8.00 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.48) |
0.13 |
0.22 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.97 |
1.38 |
1.01 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.66 |
0.97 |
1.01 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Share Capital |
69.150 |
69.150 |
69.150 |
|
Reserves & Surplus |
32.585 |
41.197 |
4.094 |
|
Net
worth |
101.735 |
110.347 |
73.244 |
|
|
|
|
|
|
long-term borrowings |
62.550 |
31.290 |
0.000 |
|
Short term borrowings |
40.483 |
120.911 |
70.899 |
|
Total
borrowings |
103.033 |
152.201 |
70.899 |
|
Debt/Equity
ratio |
1.013 |
1.379 |
0.968 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
506.484 |
406.212 |
370.951 |
|
|
|
(19.798) |
(8.680) |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
506.484 |
406.212 |
370.951 |
|
Profit |
14.380 |
8.612 |
-37.103 |
|
|
2.84% |
2.12% |
-10.00% |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES
OF LONG-TERM DEBT DETAILS:
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
(Rs. In Millions) |
||
|
Current maturities of long-term debt |
31.290 |
31.260 |
31.260
|
|
|
|
|
|
|
Total |
31.290 |
31.260 |
31.260
|
|
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 |
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 |
Yes |
|
18] |
Major customers |
Yes |
|
19] |
Payments terms |
Yes |
|
20] |
Export / Import details
(if applicable) |
Yes |
|
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 |
Yes |
CORPORATE INFORMATION
Subject was incorporated on November 15, 2007 under the Companies Act, 1956 with its registered office at Jaikisan Bhawan, Zuari Nagar, Goa. The Company was formed as a joint venture pursuant to the agreement between Rotem Amfert Negev Limited ("Rotem") and Zuari Agro Chemicals Limited ("Zuari") [formerly Zuari Holdings Limited] dated August 3, 2007 with both Rotem and Zuari holding 50% each in the equity share capital of the Company.
Rotem has the experience and know-how for manufacture of Solid Water Soluble Fertilisers and related products and Zuari has necessary experience in manufacture, distribution, marketing and sale of fertilisers. The joint venture was entered into for conducting business in manufacturing, trading and marketing of fertilizer products for mutual benefit of both the parties. The manufacturing facilities of the Company are located at Baramati, near Pune in Maharashtra and the Company commenced its commercial production from March 27, 2010.
UNSECURED LOAN
|
PARTICULARS |
31.03.2014 (Rs.
in Millions) |
31.03.2013 (Rs.
in Millions) |
|
Short-term
borrowings |
|
|
|
Working capital loans from banks |
20.156 |
50.000 |
|
Total |
20.156 |
50.000 |
INDEX
OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION
|
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
10172091 |
23/01/2012 * |
210,700,000.00 |
CORPORATION BANK |
VASCO -DA -GAMA
BRANCH, RAGHUNATH APARTMENTS,, F. |
B32152936 |
* Date of charge modification
FIXED ASSETS
Tangible assets
- Land
- Buildings
- Plant and equipment
- Furniture and fixtures
- Vehicles
- Office equipment
- Computer equipments
- Other equipments
Intangible assets
- Computer software
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.63.58 |
|
|
1 |
Rs.99.98 |
|
Euro |
1 |
Rs.79.39 |
INFORMATION DETAILS
|
Information Gathered
by : |
PRT |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
KVT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILITY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
4 |
|
--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 |
|
41 |
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.