MIRA
INFORM REPORT
|
Report Date : |
21.05.2014 |
IDENTIFICATION DETAILS
|
Name : |
COROB INDIA PRIVATE LIMITED (w.e.f. 07.10.2004) |
|
|
|
|
Formerly Known
As : |
CPS COLOR INDIA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
158, Dani Compound Vidya
Nagari Marg CST Road, Kalina, Santacruz (East),
Mumbai – 400098, Maharashtra |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
25.02.1998 |
|
|
|
|
Com. Reg. No.: |
11-113726 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.437.096 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U29290MH1998PTC113726 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMC07141B |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACC8387P |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturing and Sale of
Tinting and Dispensing Machines, Trading of Shaker Mixers, Colorants and its
Related Products. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (44) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 2200000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having a satisfactory track. Reserves of the company seems to be low during 2013. However,
liquidity position of the company seems to be good. Trade relations are reported to be fair. Business is active. Payment
terms are reported to be slow but correct. The company can be considered for business dealing 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 – 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 DECLINED
MANAGEMENT NON CO-OPERATIVE
Contact No.: 91-22-24900042
LOCATIONS
|
Registered Office : |
158, Dani Compound Vidya
Nagari Marg CST Road, Kalina, Santacruz (East),
Mumbai – 400098, Maharashtra, India |
|
Tel. No.: |
91-22-24900042/ 66497777 |
|
Fax No.: |
91-22-66497700 |
|
E-Mail : |
|
|
|
|
|
Factory : |
Plot No.10 to 13 and 13A, Goa IDC, Daman
Industrial Estate, Somnath Road, Daman – 396 210,
India |
DIRECTORS
(AS ON 30.09.2013)
|
Name : |
Dr. Nasser Arivoli |
|
Designation : |
Managing Director |
|
Address : |
D1-3-2, Millenium Towers, Sec-9, Sanpada, New Mumbai – 400705, Maharashtra,
India |
|
Date of Appointment : |
22.10.2012 |
|
DIN No.: |
06427148 |
|
|
|
|
Name : |
Mr. Timo Tapani Linna |
|
Designation : |
Director |
|
Address : |
Runeberginkatu 4C B 31, Helsinkl, Finland 28400 |
|
Date of Appointment : |
23.11.2006 |
|
DIN No.: |
01342559 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
(AS ON 30.09.2013)
|
Name of
Shareholders |
|
No of
Shares |
|
|
|
|
|
CPS Color Equipment SPA, Italy |
|
43709599 |
|
CPS color Group OY Finland, Finland |
|
1 |
|
|
|
|
|
Total
|
|
43709600 |
(AS ON 30.09.2013)
Equity Shares Break – up
|
Category |
|
Percentage |
|
|
|
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
100.00 |
|
|
|
|
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing and Sale of
Tinting and Dispensing Machines, Trading of Shaker Mixers, Colorants and its
Related Products. |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
|
|
|
|
Bankers : |
· Citi Bank N.A. Bandra Kurla Complex,
G- Block, Bandra (East), Mumbai – 400051, Maharashtra, India |
|
|
|
|
Facilities : |
-- |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
B
S R and Company Chartered Accountants |
|
Address : |
Lodha Excelus,
1st Floor, Apolla Mills Compound, N M
Joshi Marg, Mahalakshmi,
Mumbai, Maharashtra, India |
|
PAN No.: |
AAIFB7357B |
|
|
|
|
Holding Company : |
·
CPS Color Equipment SPA, Italy |
|
|
|
|
Fellow
Subsidiary Companies : |
·
CPS Color Group Oy, Finland ·
CPS Color
Equipment Inc., Italy ·
CPS Color Oy, Finland ·
CPS Color
Equipment B.V., Finland ·
CPS Color B.V.,
Finland ·
CPS Color
Equipment Oy, Finland ·
CPS Color Trading
(Shanghai) Company Limited, China ·
CPS Color
(Shanghai) Company Limited, India ·
CPS Color Group
OY, Singapore ·
CPS Color S.A.,
Italy ·
CPS Color
Equipment OY, Finland ·
CPS Color
Scandinavia AB, Italy |
|
|
|
|
Other Related Parties : |
·
Cidron Speccolor AB ·
CPS Color Oy (Singapore) ·
CPS Color GmbH ·
CPS Color Ltda ·
CPS Color Pty
Limited ·
CPS Color Invest Oy ·
CPS Color Holding
BV ·
OOO CPS Color ·
CPS Color Pty ·
CPS Color
Equipment S.p.A ·
Corob LTDA
(under liquidation) ·
CPS Color Holding
Oy, ·
Colorworld
Solutions Private Limited. ·
Lenteq
Industries B.V. |
CAPITAL STRUCTURE
(AS ON 30.09.2013)
Authorised Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
60000000 |
Equity Shares |
Rs.10/- each |
Rs.600.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
43709600 |
Equity Shares |
Rs.10/- each |
Rs.437.096
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 |
437.096 |
437.096 |
15.000 |
|
(b) Reserves & Surplus |
106.160 |
6.328 |
(12.422) |
|
(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) |
543.256 |
443.424 |
2.578 |
|
|
|
|
|
|
(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 |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
22.463 |
11.199 |
7.251 |
|
Total Non-current Liabilities (3) |
22.463 |
11.199 |
7.251 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
8.886 |
8.887 |
51.676 |
|
(b) Trade payables |
560.985 |
369.329 |
745.799 |
|
(c) Other current
liabilities |
48.144 |
12.002 |
18.201 |
|
(d) Short-term provisions |
20.972 |
25.515 |
13.922 |
|
Total Current Liabilities (4) |
638.987 |
415.733 |
829.598 |
|
|
|
|
|
|
TOTAL |
1,204.706 |
870.356 |
839.427 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i)
Tangible assets |
155.048 |
110.342 |
74.577 |
|
(ii) Intangible Assets |
0.637 |
0.645 |
0.198 |
|
(iii) Capital
work-in-progress |
0.000 |
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) |
6.543 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
47.288 |
40.604 |
24.360 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
209.516 |
151.591 |
99.135 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
285.182 |
198.755 |
277.625 |
|
(c) Trade receivables |
466.538 |
289.739 |
291.082 |
|
(d) Cash and cash
equivalents |
93.431 |
82.860 |
56.592 |
|
(e) Short-term loans and
advances |
137.901 |
137.836 |
113.495 |
|
(f) Other current assets |
12.138 |
9.575 |
1.498 |
|
Total Current Assets |
995.190 |
718.765 |
740.292 |
|
|
|
|
|
|
TOTAL |
1,204.706 |
870.356 |
839.427 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
1173.175 |
938.937 |
989.560 |
|
|
|
Service Income |
154.017 |
121.809 |
90.305 |
|
|
|
Other Income |
21.091 |
19.629 |
8.884 |
|
|
|
TOTAL |
1348.283 |
1080.375 |
1088.749 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Manufacturing and Other Director and Indirect Expenses |
1244.843 |
1084.280 |
1065.891 |
|
|
|
Exceptional Items |
0.000 |
(36.670) |
0.000 |
|
|
|
TOTAL |
1244.843 |
1047.610 |
1065.891 |
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION |
103.440 |
32.763 |
22.858 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
9.667 |
8.156 |
13.325 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX |
93.773 |
24.607 |
9.533 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
(4.586) |
5.857 |
0.200 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
AFTER TAX |
98.359 |
18.750 |
9.333 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
2.25 |
1.08 |
-- |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
7.30 |
1.74 |
0.86 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
7.99 |
2.62 |
0.96 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
7.83 |
2.83 |
1.14 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.17 |
0.06 |
3.70 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.02 |
0.02 |
20.04 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.56 |
1.73 |
0.89 |
FINANCIAL ANALYSIS
[All figures are in
Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(INR in Mlns.) |
(INR in Mlns.) |
(INR in Mlns.) |
|
Share Capital |
15.000 |
437.096 |
437.096 |
|
Reserves & Surplus |
(12.422) |
6.328 |
106.160 |
|
Net worth |
2.578 |
443.424 |
543.256 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
51.676 |
8.887 |
8.886 |
|
Total borrowings |
51.676 |
8.887 |
8.886 |
|
Debt/Equity ratio |
20.045 |
0.020 |
0.016 |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(INR in Mlns) |
(INR in Mlns) |
(INR in Mlns) |
|
Sales |
989.560 |
938.937 |
1,173.175 |
|
|
|
(5.116) |
24.947 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(INR in Mlns) |
(INR in Mlns) |
(INR in Mlns) |
|
Sales |
989.560 |
938.937 |
1,173.175 |
|
Profit |
9.333 |
18.750 |
98.359 |
|
|
0.94% |
2.00% |
8.38% |
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 |
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 |
31.03.2012 |
|
|
(Rs. In Millions) |
|
|
Short Term Borrowings
|
|
|
|
Loans repayable on Demand from Others |
8.886 |
8.887 |
|
|
|
|
|
Total |
8.886 |
8.887 |
CONTINGENT LIABILITIES
a. Estimated sales tax
liability in case of non-collection/ non-submission of sales tax forms for availing
concessional sales tax is to the extent of Rs.8.814
Millions (Previous year Rs.13.121 Millions).
b.
Estimated excise liabilities of Rs. Nil (Previous
year: Rs.109.995 Millions).
INDEX OF CHARGES:
|
S. No. |
Charge ID |
Date of Charge Creation/ Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number
(SRN) |
|
1 |
90146192 |
23/05/2001 |
21,000,000.00 |
CITI BANK |
BNDRA KURLA COMPLEX,
G-BLOCK BANDRA (E), MUMBAI, |
- |
FIXED ASSETS:
·
Land
·
Building
·
Plant and Equipment
·
Furniture and Fixtures
·
Vehicles
·
Office Equipment
·
Computer
·
Leasehold improvements
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 records 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 records 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] 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.58.75 |
|
|
1 |
Rs.98.77 |
|
Euro |
1 |
Rs.80.53 |
INFORMATION DETAILS
|
Information
Gathered by : |
PRT |
|
|
|
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
NIT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
44 |
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this
report. The assessed factors and their relative weights (as indicated through
%) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit transaction.
It has above average (strong) capability for payment of interest and
principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General unfavourable factors will not cause fatal effect.
Satisfactory capability for payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with full
security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
-- |
NB |
New Business |
-- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or
its officials.