MIRA INFORM REPORT
|
Report Date : |
06.11.2014 |
IDENTIFICATION DETAILS
|
Name : |
OMNOVA SOLUTIONS INDIA PRIVATE LIMITED [w.e.f.22.12.2011] |
|
|
|
|
Formerly Known
As : |
ELIOKEM INDIA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
707/ 708, Meadows, Sahar Plaza Complex, Andheri Kurla Road, Andheri
(East), Mumbai – 400059, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
30.11.2013 |
|
|
|
|
Date of
Incorporation : |
04.10.2007 |
|
|
|
|
Com. Reg. No.: |
11-174698 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 120.100 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24296MH2007PTC174698 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUME07045D |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCE8488J |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer and Exporter of Synthetic Rubber. |
|
|
|
|
No. of Employees
: |
325 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (27) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
|
|
|
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. The company has incurred a loss from its operations during 2013. However, the company is progressing well. It has been successful in wiping
off its accumulated losses of previous year. Trade relations are fair. Business is active. Payment terms are
reported to be slow but correct. The company can be considered for business dealings 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.
INDIAN ECONOMIC OVERVIEW
N E W S
Verdict Implications
: Apex court order may alter coal import dynamics. Traders go slow on talks
over coal supply contracts, uncertainty over cancellation of blocks weigh on
stocks.
Recent arrest of the
Chennai head of the Registrar of Companies, the ministry of corporate affairs arm
that ensures that companies file all the information required by the Companies
Act is the latest manifestation of a messy fight between a father and his
adopted son for the control of Rs 40000 mn business empire. The Central Bureau
of Investigation arrested Manumeethi Cholan after he accepted Rs 10 lakhs as
bribe from M A M Ramaswamy, a CBI official said.
Central Bureau of
Investigation books Electrotherm for cheating Central Bank of Rs 4360 mn.
Infosys maintains
revenue guidance. COO Rao says attrition still an area of concern and it would
take a few more quarters to bring down levels to 13-15 %.
DHL to invest Euro
100 mn in India over next 2 years. The firm has chosen India to pilot its
e-commerce business model for the Asia-Pacific region.
Blackstone may buy
stake in BlueRidge SEZ in line with the fund’s real estate strategy in India.
Kingfisher Airlines
Ltd grounded in October 2012 under the weight of heavy debt and accumulated
losses, recently approached the Delhi high court for relief in two separate
cases. The airline challenged a notice by Punjab & National Bank alleging
that it had willfully defaulted on Rs 7700 mn of loans and sought more time to
comply with the requirements under the listing agreements with the Stock
Exchanges.
OnMobile likely to
sack another 300 employees. The lay-offs follow a spate of senior-level exits
over the past two years, starting with of its founder. The overall lay-offs
could number around 600 and are driven by the need to cut costs, says a former
employee.
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. Vaidhyanathan Ramamoorthy |
|
Designation : |
Senior Finance Manager |
|
Contact No.: |
91-22-66840900 |
|
Date : |
05.11.2014 |
LOCATIONS
|
Registered Office : |
707/ 708, Meadows, Sahar Plaza Complex, Andheri Kurla Road, Andheri
(East), Mumbai – 400059, Maharashtra, India |
|
Tel. No.: |
91-22-66840900 |
|
Fax No.: |
91-22-66840901 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
PRODUCTION SITES : |
|
|
Factory 1 : |
Eliokem - Le Havre Plant |
|
Tel. No.: |
+33 2 32 79 22 00 |
|
Fax No.: |
+33 2 32 79 23 94/5 |
|
|
|
|
Factory 2 : |
Eliokem - Akron Plant |
|
Tel. No.: |
+1 (330) 869 4323 |
|
Fax No.: |
+1 (330) 869 4338 |
|
E-Mail : |
|
|
|
|
|
Factory 3 : |
Eliokem - Ningbo Plant 308 Jiangbin Road United Development Zone, Xiaogang, Ningbo Economic
and Technical Development Zone, Zhejiang Province, P.R. China Post Code:
315803 |
|
Tel. No.: |
+86 (574) 86 18 37 19 |
|
Fax No.: |
+86 (574) 86 22 66 73 |
|
|
|
|
Factory 4 : |
Eliokem - Valia Plant Village Dungri, Taluka Valia, Ankleshwar, District Bharuch - 393135,
Gujarat, India |
|
Tel. No.: |
91-2643-270442/ 43/ 45 |
|
Fax No.: |
91-2643-270010 |
|
|
|
|
Overseas Offices : |
Located at: v
v
|
|
|
|
|
Technology Centers : |
Located at: v
v
v
v
Bharuch, |
|
|
|
|
Representative Offices : |
Located at: v
v
v
v
v
Mumbai |
DIRECTORS
AS ON 30.05.2014
|
Name : |
Mr. Deepak Gopinath Birje |
|
Designation : |
Whole-time director |
|
Address : |
B-36, B Wing, 201 Gokuldham, Goregaon
(East), Mumbai – 400063, Maharashtra, India |
|
Date of Birth/Age : |
26.07.1958 |
|
Date of Appointment : |
08.02.2008 |
|
PAN No.: |
ACHPB5367J |
|
DIN No.: |
00694998 |
|
|
|
|
Name : |
Mr. Anupkumar Sriram Srivastava |
|
Designation : |
Whole-time director |
|
Address : |
FTB-3 I FR 4th BL/ Shrinagar CHS, P L L Marg, Chembur,
Mumbai – 400089, Maharashtra, India |
|
Date of Birth/Age : |
01.01.1955 |
|
Date of Appointment : |
22.09.2010 |
|
PAN No.: |
ASQPS3889M |
|
DIN No.: |
03122445 |
|
|
|
|
Name : |
Kevin Michael McMullen |
|
Designation : |
Director |
|
Address : |
541 Falls Road, |
|
Date of Birth/Age : |
04.07.1960 |
|
Date of Appointment : |
09.12.2010 |
|
DIN No.: |
03344618 |
|
|
|
|
Name : |
Michael Eugene Hicks |
|
Designation : |
Director |
|
Address : |
|
|
Date of Birth/Age : |
10.06.1958 |
|
Date of Appointment : |
09.12.2010 |
|
DIN No.: |
03363683 |
|
|
|
|
Name : |
Andrew Thomas Higgin |
|
Designation : |
Additional director |
|
Address : |
Bank Farm, Aldcliffe Road, LA15BQ, Lancaster, United Kingdom |
|
Date of Birth/Age : |
04.03.1963 |
|
Date of Appointment : |
16.09.2013 |
|
DIN No.: |
06632051 |
KEY EXECUTIVES
|
Name : |
Mr. Vaidhyanathan Ramamoorthy |
|
Designation : |
Senior Finance Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.05.2014
|
Names of Shareholders |
|
No. of Shares |
|
|
|
|
|
OMNOVA Solutions India France Holding S.A.S., France |
|
12009999 |
|
OMNOVA Solutions S.A.S., France |
|
1 |
|
|
|
|
|
Total |
|
12010000 |
AS ON 30.05.2014
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
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 : |
Manufacturer and Exporter of Synthetic Rubber. |
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Products/ Services : |
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Exports : |
|
||||
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Products : |
Synthetic Rubber |
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Countries : |
· US · Europe · Far East · Middle East · Japan |
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Imports : |
|
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Products : |
Raw Material |
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Countries : |
· Saudi Arabia · Europe · China · Singapore |
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Terms : |
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Selling : |
Cash and Advance Payment |
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||||
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Purchasing : |
Cash and Advance Payment |
GENERAL INFORMATION
|
Customers : |
Wholesalers, Retailers and End Users |
|
|
|
|
No. of Employees : |
325 (Approximately) |
|
|
|
|
Bankers : |
· The Hongkong and Shanghai Banking Corporation Limited M.G. Road Branch, Mumbai, Maharashtra, India · BNP Paribas Fort Branch, Mumbai, Maharashtra, India |
|
|
|
|
Facilities : |
Total WC = Rs. 950.000 Millions |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
S R B C and Company LLP Chartered Accountants |
|
Address : |
Golf View, Corporate Tower-B, Sector-42, Sector Road,
Gurgaon - 122002, Haryana, India |
|
Income-tax
PAN of auditor or auditor's firm : |
ABSFS4151K |
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|
|
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Ultimate Holding
company : |
OMNOVA Solutions Inc. |
|
|
|
|
Holding company : |
OMNOVA Solutions India France Holding SAS |
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|
|
|
Other Related Parties : |
· OMNOVA Solution SAS ·
OMNOVA Solutions International SAS |
CAPITAL STRUCTURE
AS ON 30.05.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
12,050,000 |
Equity Shares |
Rs. 10/- each |
Rs. 120.500 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
12,010,000 |
Equity Shares |
Rs. 10/- each |
Rs. 120.100 Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
30.11.2013 |
30.11.2012 [12 Months] |
30.11.2011 [11 Months] |
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
120.100 |
0.100 |
0.100 |
|
(b) Reserves & Surplus |
746.094 |
(274.346) |
(233.843) |
|
(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) |
866.194 |
(274.246) |
(233.743) |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
1200.000 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c)
Other long term liabilities |
10.966 |
10.575 |
0.792 |
|
(d)
long-term provisions |
8.621 |
7.992 |
5.417 |
|
Total
Non-current Liabilities (3) |
19.587 |
18.567 |
1206.209 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
178.328 |
206.456 |
257.512 |
|
(b)
Trade payables |
193.549 |
178.865 |
354.417 |
|
(c)
Other current liabilities |
526.869 |
1686.761 |
190.005 |
|
(d)
Short-term provisions |
8.763 |
9.192 |
2.227 |
|
Total
Current Liabilities (4) |
907.509 |
2081.274 |
804.161 |
|
|
|
|
|
|
TOTAL |
1793.290 |
1825.595 |
1776.627 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
504.802 |
554.159 |
602.402 |
|
(ii)
Intangible Assets |
0.538 |
2.476 |
7.491 |
|
(iii)
Capital work-in-progress |
1.919 |
1.022 |
1.345 |
|
(iv) Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
2.529 |
2.529 |
2.529 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan
and Advances |
34.996 |
29.116 |
22.727 |
|
(e)
Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
544.784 |
589.302 |
636.494 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
416.826 |
354.683 |
227.795 |
|
(c)
Trade receivables |
515.332 |
453.350 |
524.579 |
|
(d)
Cash and cash equivalents |
68.561 |
123.991 |
175.687 |
|
(e)
Short-term loans and advances |
247.787 |
304.269 |
212.072 |
|
(f)
Other current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
1248.506 |
1236.293 |
1140.133 |
|
|
|
|
|
|
TOTAL |
1793.290 |
1825.595 |
1776.627 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
30.11.2013 |
30.11.2012 [12 Months] |
30.11.2011 [11 Months] |
|
|
|
SALES |
|
|
|
|
|
|
|
TOTAL |
2191.407 |
2617.693 |
2520.642 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
2250.967 |
2646.792 |
2539.620 |
|
|
|
|
|
|
|
|
|
PROFIT/ [LOSS]
BEFORE TAX |
(59.560) |
(29.099) |
(18.978) |
|
|
|
|
|
|
|
|
|
Less |
TAX |
0.000 |
11.404 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ [LOSS]
AFTER TAX |
(59.560) |
(40.503) |
(18.978) |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’
BALANCE BROUGHT FORWARD |
(274.346) |
(233.843) |
(214.865) |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
(333.906) |
(274.346) |
(233.843) |
|
|
|
|
|
|
|
|
|
|
Earnings/ [Loss]
Per Share (Rs.) |
(4.96) |
(4050.30) |
(1897.80) |
|
|
Particulars |
|
|
30.11.2014 |
|
Sales Turnover (Approximately) |
|
|
2910.000 |
|
|
|
|
|
The above information has been parted by Mr. Vaidhyanathan Ramamoorthy
[Senior Finance Manager]
KEY RATIOS
|
PARTICULARS |
|
30.11.2013 |
30.11.2012 [12 Months] |
30.11.2011 [11 Months] |
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(3.33) |
(1.60) |
(1.07) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.07) |
0.11 |
0.08 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.21 |
(0.75) |
(6.24) |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.38 |
0.59 |
1.42 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
30.11.2011 |
30.11.2012 |
30.11.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Share Capital |
0.100 |
0.100 |
120.100 |
|
Reserves & Surplus |
(233.843) |
(274.346) |
746.094 |
|
Net
worth |
(233.743) |
(274.246) |
866.194 |
|
|
|
|
|
|
Long-term borrowings |
1200.000 |
0.000 |
0.000 |
|
Short term borrowings |
257.512 |
206.456 |
178.328 |
|
Total
borrowings |
1457.512 |
206.456 |
178.328 |
|
Debt/Equity ratio |
(6.236) |
(0.753) |
0.206 |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
30.11.2011 |
30.11.2012 |
30.11.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Total Income |
2520.642 |
2617.693 |
2191.407 |
|
|
|
3.850 |
(16.285) |
NET PROFIT MARGIN
|
Net Profit Margin |
30.11.2011 |
30.11.2012 |
30.11.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Total Income |
2520.642 |
2617.693 |
2191.407 |
|
Profit/ (Loss) |
(18.978) |
(40.503) |
(59.560) |
|
|
(0.75%) |
(1.55%) |
(2.72%) |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES
OF LONG TERM DEBT
|
Particulars |
30.11.2013 (Rs.
In Millions) |
30.11.2012 (Rs.
In Millions) |
30.11.2011 (Rs.
In Millions) |
|
|
|
|
|
|
Current maturities of long-term debt |
0.000 |
1200.000 |
0.000 |
|
|
|
|
|
|
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 |
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 |
INDEX OF CHARGES: NO
CHARGES EXIST FOR COMPANY
UNSECURED LOANS
|
PARTICULARS |
30.11.2013 (Rs.
In Millions) |
30.11.2012 (Rs.
In Millions) |
|
SHORT TERM BORROWINGS |
|
|
|
Loans repayable on demand from banks |
118.939 |
195.667 |
|
Loans repayable on demand from others |
12.912 |
10.789 |
|
Other loans and advances |
46.477 |
0.000 |
|
|
|
|
|
Total |
178.328 |
206.456 |
CHANGE OF ADDRESS:
The Registered Office of the company has been shifted from 23rd Floor,
Express Towers, Nariman Point, Mumbai – 400021, Maharashtra, India to the present
address w.e.f.07.02.2008.
CORPORATE INFORMATION
OMNOVA Solutions India Private Limited (formerly known as
Eliokem India Private Limited) is a subsidiary of OMNOVA Solutions India France
Holding SAS, France, a Company incorporated under the laws of the Republic of
France in 2001.
FIXED ASSETS:
· Land
· Buildings
· Residential building
· Plant and equipment
· Factory equipments
· Other plant and equipment
· Furniture and fixtures
· Vehicles
· Motor vehicles
· Office equipment
· Computer equipments
·
Other equipments
· Leasehold improvements
· Goodwill
·
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. 61.39 |
|
|
1 |
Rs. 98.00 |
|
Euro |
1 |
Rs. 76.99 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
BVA |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
2 |
|
--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 |
|
DEFAULTERS |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
27 |
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.