MIRA INFORM REPORT
|
Report Date : |
02.05.2014 |
IDENTIFICATION DETAILS
|
Name : |
EOC POLYMERS INDIA PRIVATE LIMITED |
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Registered
Office : |
A-220, Defence Colony, New Delhi - 110024 |
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Country : |
India |
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Financials (as
on) : |
31.03.2013 |
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Date of
Incorporation : |
01.02.2006 |
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Com. Reg. No.: |
55-145680 |
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Capital
Investment / Paid-up Capital : |
Rs. 203.286 Millions |
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CIN No.: [Company Identification
No.] |
U25199DL2006FTC145680 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
DELE04280D |
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PAN No.: [Permanent Account No.] |
AABCE5525C |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturing of Polymer, Compound and Latex (Latices). |
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No. of Employees
: |
40 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (30) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 450000 |
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|
Status : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate track record. Company has incurred loss from its operation in the year 2013. However, trade relation are fair. Business is active. Payment terms are
slow but correct. 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 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
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 PARTED BY (GENERAL DETAILS)
|
Name : |
Mr. Dalvinder Pal Singh |
|
Designation : |
Finance Department |
|
Contact No.: |
91-130-2474731 |
|
Date : |
09.04.2014 |
LOCATIONS
|
Registered Office : |
A-220, Defence Colony, New Delhi – 110024, India |
|
Tel. No. : |
Not Available |
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Fax No. : |
Not Available |
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E-Mail : |
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Website : |
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Factory : |
74 A & 474-B, HSIDC Industrial Estate, Barhi, Phase-1, Sonipat –
131101, Haryana, India |
|
Tel. No. : |
91-130-2474731 |
|
Fax No. : |
91-130-2474732 |
DIRECTORS
As on 30.09.2013
|
Name : |
Gerard Jacobus Marsman |
|
Designation : |
Managing Director |
|
Address : |
Rigistrasse, 9, CH – 6045, Meggen, 6045, Switzerland |
|
Date of Birth/Age : |
04.09.1943 |
|
Date of Appointment : |
16.06.2006 |
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DIN No. : |
00651125 |
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|
|
|
Name : |
Mr. Dharmendra Digamber Gangurde |
|
Designation : |
Director |
|
Address : |
Flat-C/87, Woodland Apartments, Gandhi Nagar, Kothrud, Pune – 411029,
Maharashtra, India |
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Date of Birth/Age : |
26.05.1966 |
|
Date of Appointment : |
27.12.2007 |
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PAN No. : |
ANDPG5373J |
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DIN No. : |
02011335 |
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|
|
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Name : |
Marc Weyme |
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Designation : |
Director |
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Address : |
Pruimelstraat, 16-B-9700, Oudenaarde, 9700, Belgium |
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Date of Birth/Age : |
10.05.1950 |
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Date of Appointment : |
16.06.2006 |
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DIN No. : |
00200652 |
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Name : |
Gerard Robert Marsman |
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Designation : |
Director |
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Address : |
Steinweg 3-CH-6343, Buonas, 6343, Switzerland |
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Date of Birth/Age : |
24.02.1969 |
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Date of Appointment : |
16.06.2006 |
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DIN No. : |
00223928 |
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|
|
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Name : |
Mr. David Haywood |
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Designation : |
Director |
|
Address : |
Block 211, Bedok South Avenue, 1, 02-05, Casafina, Singapore, 469336 |
|
Date of Birth/Age : |
26.04.1967 |
|
Date of Appointment : |
18.06.2008 |
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DIN No. : |
01977160 |
KEY EXECUTIVES
|
Name : |
Mr. Dalvinder Pal Singh |
|
Designation : |
Finance Department |
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|
|
|
Name : |
Lalan Kumar Singh |
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Designation : |
Secretary |
|
Address : |
R-114A, Street No.3, Ramesh Nagar, Delhi – 110092, India |
|
Date of Birth/Age : |
03.02.1979 |
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Date of Appointment : |
02.06.2012 |
|
PAN No.: |
BSYPS7711R |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2013
|
Names of Shareholders |
No. of Shares |
|
Manoj Kumar |
1 |
|
EOC Management NV, Belgium |
4625744 |
|
EOC P&E Invest Asia Limited, Hong Kong |
15702881 |
|
Total |
20328626 |
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 of Polymer, Compound and Latex (Latices). |
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Products : |
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Exports : |
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Products : |
Latex Compound |
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Countries : |
Thailand |
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Imports : |
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Products : |
Raw Material |
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Countries : |
· Belgium · Germany |
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Terms : |
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Selling : |
Cash and Advance |
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Purchasing : |
Cash and Advance |
PRODUCTION STATUS (AS ON 31.03.2011)
|
Particulars |
Unit |
Actual
Production |
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|
|
Latex Compound |
MT / p.a. |
18,000 |
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GENERAL INFORMATION
|
Customers : |
Wholesalers and Retailers |
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No. of Employees : |
40 (Approximately) |
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Bankers : |
HDFC Bank Limited |
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Facilities : |
NOTE: Cash credit from bank is secured against hypothecation by way of first and exclusive charge of present and future current assets inclusive of all stocks and book debts. The cash credit is repayable on demand and
carries interest @ ING Vysya Base Rate (IVBR) + 2.55%. [current IVBR is
10.45%] |
|
Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
S. N. Dhawan and Company Chartered Accountants |
|
Address : |
C - 37, Connaught Place, New Delhi - 110001, India |
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Income-tax
PAN of auditor or auditor's firm : |
AAQFS0580H |
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Holding Company: |
EOC P&E Invest Asia Limited, Hong Kong |
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Associates : |
· EOC Tailor Made Polymers India Private Limited CIN No.:U24110MH1973PTC017080 · EOC Belgium NV · EOC Logistics NV · E O C Management Asia Pacific Pte Limited · EOC Polymer (Thailand) Company Limited |
CAPITAL STRUCTURE
After 30.09.2013
Authorised Capital : Rs. 500.000 Millions
Issued, Subscribed & Paid-up Capital : Rs. 297.426
Millions
As on 30.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
50,000,000 |
Equity Shares |
Rs.10/- each |
Rs. 500.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
20,328,626 |
Equity Shares |
Rs.10/- each |
Rs. 203.286 Millions |
|
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|
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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 |
203.286 |
147.636 |
89.466 |
|
(b) Reserves & Surplus |
(89.553) |
(56.064) |
(39.792) |
|
(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) |
113.733 |
91.572 |
49.674 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
353.530 |
76.735 |
66.975 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
2.693 |
1.729 |
1.038 |
|
Total Non-current
Liabilities (3) |
356.223 |
78.464 |
68.013 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
2.471 |
6.156 |
6.793 |
|
(b) Trade
payables |
77.928 |
82.651 |
81.869 |
|
(c) Other
current liabilities |
25.402 |
8.087 |
16.003 |
|
(d) Short-term
provisions |
0.114 |
0.051 |
0.030 |
|
Total Current
Liabilities (4) |
105.915 |
96.945 |
104.695 |
|
|
|
|
|
|
TOTAL |
575.871 |
266.981 |
222.382 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
91.895 |
95.684 |
97.903 |
|
(ii)
Intangible Assets |
0.093 |
0.140 |
0.209 |
|
(iii)
Capital work-in-progress |
193.397 |
12.783 |
3.920 |
|
(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 |
20.987 |
14.500 |
|
(d) Long-term Loan and Advances |
5.493 |
10.432 |
0.101 |
|
(e) Other Non-current
assets |
1.422 |
0.090 |
0.090 |
|
Total Non-Current
Assets |
292.300 |
140.116 |
116.723 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
33.840 |
52.635 |
63.862 |
|
(c) Trade
receivables |
22.510 |
20.296 |
18.798 |
|
(d) Cash
and cash equivalents |
215.763 |
49.669 |
5.130 |
|
(e)
Short-term loans and advances |
11.159 |
4.214 |
17.865 |
|
(f) Other
current assets |
0.299 |
0.051 |
0.004 |
|
Total
Current Assets |
283.571 |
126.865 |
105.659 |
|
|
|
|
|
|
TOTAL |
575.871 |
266.981 |
222.382 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
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|
|
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|
TOTAL |
NA |
NA |
NA |
|
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|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
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|
|
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|
PROFIT/
(LOSS) BEFORE TAX |
(12.502) |
(22.760) |
(4.279) |
|
|
|
|
|
|
|
|
|
Less |
TAX |
20.987 |
(6.488) |
0.491 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
(33.489) |
(16.272) |
(4.770) |
|
|
|
|
|
|
|
|
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|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
74.874 |
56.683 |
123.122 |
|
|
|
Capital Goods |
0.532 |
0.000 |
0.000 |
|
|
TOTAL IMPORTS |
75.406 |
56.683 |
123.122 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
(1.89) |
(1.40) |
(0.53) |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(3.27) |
(9.76) |
(2.10) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.11) |
(0.25) |
(0.09) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
3.13 |
0.91 |
1.49 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.68 |
1.31 |
1.01 |
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 |
89.466 |
147.636 |
203.286 |
|
Reserves & Surplus |
(39.792) |
(56.064) |
(89.553) |
|
Net
worth |
49.674 |
91.572 |
113.733 |
|
|
|
|
|
|
long-term borrowings |
66.975 |
76.735 |
353.530 |
|
Short term borrowings |
6.793 |
6.156 |
2.471 |
|
Total
borrowings |
73.768 |
82.891 |
356.001 |
|
Debt/Equity
ratio |
1.485 |
0.905 |
3.130 |
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 |
Yes |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact
person |
Yes |
|
11] |
Turnover of firm for last
three years |
No |
|
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) |
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 |
Yes |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
No |
UNSECURED LOANS
|
PARTICULAR |
31.03.2013 (Rs.
In Millions) |
31.03.2012 (Rs.
In Millions) |
|
LONG TERM
BORROWINGS |
|
|
|
Term loan Foreign currency loan |
353.530 |
76.735 |
|
Total |
353.530 |
76.735 |
|
NOTE: The Company has obtained foreign currency loan from its holding
company EOC P and E Investment Asia Limited, Hong Kong amounting to USD
6,500,000. Out of the foreign currency loan, USD 1,500,000 was obtained
during financial year 2006-07 in three equal drawdowns of USD 500,000 each
starting from June 20, 2007 to November 16, 2007 vide agreement dated April
2, 2007. The loan carries Interest @ 5% per annum with effect from three
years after the drawdown dates of the loan. The loan is repayable after 10.5
years from the date of its origination. During financial year 2012-13, the
Company obtained a fresh foreign currency loan amounting to USD 5,000,000
vide the loan agreement dated April 21, 2012 in 10 equal drawdowns of USD
500,000 each starting from May 15, 2012 to December 17, 2012. The loan
carries Interest @ USD LIBOR plus 5% per annum and will be effective from
April 1, 2014. The loan is repayable in five consecutive yearly installments
of USD 1,000,000 commencing from December 31, 2017. |
||
BACKGROUND
Subject was incorporated on February 1, 2006. The Company is engaged in manufacturing of polymer, compound and latex (latices). The manufacturing plant is situated at Sonepat, Haryana, which started its commercial operations from August 23, 2008 with an installed capacity of 18,000 MT per annum.
FINANCIAL PERFORMANCE
The Company has incurred a net loss after tax of Rs. 33.489 Millions during the current year as compared to a loss after tax of Rs. 16.272 Millions during the previous year.
CONTINGENT
LIABILITIES:
|
PARTICULARS |
31.03.2013 (Rs.
In Millions) |
31.03.2012 (Rs.
In Millions) |
|
|
|
|
|
Guarantee given by the Company to Pollution Control Board, Haryana |
1.332 |
0.000 |
|
|
|
|
FIXED ASSETS
v
Tangible
Assets
· Land
· Buildings
· Furniture and Fixtures
· Vehicles
· Motor Vehicles
· Computer Equipments
· Other Equipmentss
v
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.60.34 |
|
|
1 |
Rs.101.45 |
|
Euro |
1 |
Rs.83.31 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Analysis Done by
: |
SUM |
|
|
|
|
Report Prepared
by : |
MRI |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
30 |
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.