MIRA
INFORM REPORT
|
Report Date : |
30.09.2014 |
IDENTIFICATION DETAILS
|
Name : |
SONKAMAL ENTERPRISES PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Unit No. 602, Sunil Enclave, |
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Country : |
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Financials (as
on) : |
31.03.2013 |
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|
|
Date of
Incorporation : |
06.10.1999 |
|
|
|
|
Com. Reg. No.: |
11-122093 |
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|
|
Capital
Investment / Paid-up Capital : |
Rs. 42.413
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U51410MH1999PTC122093 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMM21156C |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAECS2623Q |
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|
|
|
Legal Form : |
Private Limited Liability Company |
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|
|
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Line of Business
: |
Trading and Manufacturing in Chemicals. |
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|
|
No. of Employees
: |
Information Declined By The Management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (42) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
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|
Comments : |
Subject is an established company having satisfactory track record. The rating takes into consideration company’s improved financial risk
profile marked by fair profitability levels and sound liquidity position of
the company. Trade relations are fair. Business is active. Payment terms are
reported to be slow but correct. The company can be considered 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.
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 wilfully 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.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
BB+ [Long Term Bank Facilities] |
|
Rating Explanation |
Moderate risk of default and high credit risk. |
|
Date |
10.09.2013 |
|
Rating Agency Name |
CARE |
|
Rating |
A4+ [Short Term Bank Facilities] |
|
Rating Explanation |
Minimal degree of safety and very high credit risk. |
|
Date |
10.09.2013 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2014.
INFORMATION DENIED
Management non co-operative
Tel No.: 91-22-28316876
LOCATIONS
|
Registered /
Head Office : |
Unit No. 602, Sunil Enclave, Pereira Hill Road, Andheri
(East), Mumbai-400099, Maharashtra, India |
|
Tel. No.: |
91-22-28316876 / 28316877 /
28316878 /28316880 |
|
Fax No.: |
91-22-28316879 |
|
E-Mail : |
sonkamal@sonkamal.com janak@sonkamal.com purchase@sonkamal.com sales@sonkamal.com accounts@sonkamal.com info@sonkamal.com |
|
Website : |
|
|
Area : |
1500 sq. ft. |
|
Location : |
Owned |
|
|
|
|
Ahmadabad Office
: |
B-31, Goyal
Tower, University road, opposite Gulbai Tekra Police Station,
Near Jahanvee Restaurant, Ahmedabad-380015, Gujarat, India |
|
|
|
|
Warehouse : |
PANVEL
SITE: Plot No.42/2 , Survey No.1, Next to L and T Godown Old Bombay Pune Road, Bhokarpada, Panvel, District Raigad-410207, Maharashtra, India |
|
Tel. No.: |
95 –2192-255508 /255214 |
|
Fax No.: |
95 –2192-255515 |
|
E-Mail : |
sonkamal@panvel.com |
|
Location : |
Owned |
DIRECTORS
As on 30.09.2013
|
Name : |
Mr. Janak Pranlal Ladhani |
|
Designation : |
Chairman |
|
Address : |
501, Siddhi Vinayak Apartments, M.V. Road, Andheri (East),
Mumbai – 400 069, Maharashtra, India |
|
Date of Birth/Age : |
13.07.1957 |
|
Qualification: |
B.Com |
|
Date of Appointment : |
06.10.1999 |
|
Din No.: |
00045356 |
|
|
|
|
Name : |
Mrs. Meena Janak Ladhani |
|
Designation : |
Director |
|
Address : |
501, Siddhi Vinayak Apartments, M.V. Road, Andheri (East),
Mumbai – 400 069, Maharashtra, India |
|
Date of Birth/Age : |
10.09.1964 |
|
Qualification: |
S. S. C. |
|
Date of Appointment : |
06.10.1999 |
|
Din No.: |
00045261 |
|
|
|
|
Name : |
Mr. Virag Janak Ladhani |
|
Designation : |
Director |
|
Address : |
501, Siddhi Vinayak Apartments, M.V. Road, Andheri (East),
Mumbai – 400 069, Maharashtra, India |
|
Date of Birth/Age : |
23.11.1988 |
|
Date of Appointment : |
14.06.2007 |
|
Din No.: |
01590678 |
|
|
|
|
Name : |
Mr. Vinodrai Bhupatrai Shah |
|
Designation : |
Director |
|
Address : |
403, Monica (1), Near Natraj Studio, |
|
Date of Birth/Age : |
13.07.1966 |
|
Date of Appointment : |
14.06.2007 |
|
Din No.: |
01590610 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2013
|
Names of Shareholders |
No. of Shares |
% of Shares |
|
Janak Pranlal Ladhani |
278125 |
65.58 |
|
Meena Janak Ladhani |
97500 |
22.99 |
|
Taraben Pranlal Ladhani |
20000 |
4.72 |
|
Virag Janak Ladhani |
23500 |
5.54 |
|
Vinodrai Bhupatrai Shah |
1 |
0.00 |
|
Hitesh Pushkarlal Tambadia |
1 |
0.00 |
|
Janak Pranlal Ladhani (HUF) |
5000 |
1.18 |
|
TOTAL
|
424127 |
100.00 |
AS ON 30.09.2013
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Directors
or relatives of directors |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
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Products : |
|
PRODUCTION STATUS [AS ON 31.03.2011]
|
Particulars |
Unit |
Actual
Production |
|
|
|
|
|
Chemicals |
KGS. |
2718040 |
GENERAL INFORMATION
|
No. of Employees : |
Information Declined By The Management |
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Bankers : |
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Facilities : |
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Banking
Relations : |
--- |
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|
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|
Auditors : |
|
|
Name : |
N. D.
Mehta Associates Chartered
Accountants |
|
Address : |
Balakrishna
Chambers, Office No. 18, 2nd Floor, 1/4 Issaji Street Vadgadi,
Mumbai – 400 003, Maharashtra, India |
|
Tel. No.: |
91-22-23441661
/ 23441635 |
|
Mobile No.: |
91-9819190230 |
|
Fax No.: |
91-22-23441661
/ 23441635 |
|
E-Mail : |
|
|
PAN No.: |
AAAPM6842Q |
CAPITAL STRUCTURE
As on: 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
450000 |
Equity Shares |
Rs.100/- each |
Rs.45.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
424127 |
Equity Shares |
Rs.100/-
each |
Rs.42.413
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2013 |
31.03.2012 |
|
I.
EQUITY AND LIABILITIES |
|
|
|
(1) Shareholders' Funds |
|
|
|
(a) Share Capital |
42.413 |
42.413 |
|
(b) Reserves & Surplus |
189.267 |
161.300 |
|
(c) Money received against share warrants |
0.000 |
0.000 |
|
|
|
|
|
(2) Share Application money
pending allotment |
0.000 |
0.000 |
|
Total Shareholders’
Funds (1) + (2) |
231.680 |
203.713 |
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
(a) Long-term borrowings |
47.369 |
48.577 |
|
(b) Deferred tax liabilities (Net) |
0.108 |
0.210 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
|
(d) Long-term
provisions |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
47.477 |
48.787 |
|
|
|
|
|
(4) Current Liabilities |
|
|
|
(a)
Short term borrowings |
159.428 |
298.965 |
|
(b)
Trade payables |
356.552 |
365.392 |
|
(c)
Other current liabilities |
2.242 |
5.189 |
|
(d) Short-term
provisions |
4.472 |
0.875 |
|
Total Current
Liabilities (4) |
522.694 |
670.421 |
|
|
|
|
|
TOTAL |
801.851 |
922.921 |
|
|
|
|
|
II.
ASSETS |
|
|
|
(1) Non-current assets |
|
|
|
(a) Fixed Assets |
|
|
|
(i)
Tangible assets |
7.550 |
8.151 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
0.000 |
0.000 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
7.540 |
4.085 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
|
Total Non-Current
Assets |
15.090 |
12.236 |
|
|
|
|
|
(2) Current assets |
|
|
|
(a)
Current investments |
0.000 |
0.000 |
|
(b)
Inventories |
16.200 |
52.686 |
|
(c)
Trade receivables |
591.024 |
704.541 |
|
(d) Cash
and cash equivalents |
145.699 |
128.036 |
|
(e)
Short-term loans and advances |
33.838 |
25.422 |
|
(f)
Other current assets |
0.000 |
0.000 |
|
Total
Current Assets |
786.761 |
910.685 |
|
|
|
|
|
TOTAL |
801.851 |
922.921 |
|
SOURCES OF FUNDS |
|
|
31.03.2011 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
42.413 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
148.418 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
190.831 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
214.052 |
|
|
2] Unsecured Loans |
|
|
40.617 |
|
|
TOTAL BORROWING |
|
|
254.669 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
445.500 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
6.065 |
|
|
Capital work-in-progress |
|
|
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.000 |
|
|
DEFERREX TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
84.957
|
|
|
Sundry Debtors |
|
|
618.257
|
|
|
Cash & Bank Balances |
|
|
105.823
|
|
|
Other Current Assets |
|
|
6.136
|
|
|
Loans & Advances |
|
|
35.107
|
|
Total
Current Assets |
|
|
850.280
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
387.070
|
|
|
Other Current Liabilities |
|
|
0.825
|
|
|
Provisions |
|
|
23.081
|
|
Total
Current Liabilities |
|
|
410.976
|
|
|
Net Current Assets |
|
|
439.304
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.131 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
445.500 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
NA |
NA |
|
|
|
|
Other Income |
NA |
NA |
|
|
|
|
TOTAL |
3520.000
[Approximately] [Provided
by Management] |
NA |
2760.000 [Approximately] |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX |
42.381 |
19.676 |
66.803 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
NA |
NA |
22.683 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX |
NA |
NA |
44.120 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
3.100 |
2.300 |
NA |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
NA |
NA |
112.05 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
Return on Total Assets (PBT/Total Assets} |
(%) |
5.29
|
2.13 |
7.80 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.18
|
0.10 |
0.35 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.89
|
1.71 |
1.33 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.51
|
1.35 |
2.07
|
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
|
Particular |
31.03.2012 |
31.03.2013 |
|
|
(Rs. In Millions) |
(Rs. In Millions) |
|
Share Capital |
42.413 |
42.413 |
|
Reserves & Surplus |
161.300 |
189.267 |
|
Net worth |
203.713 |
231.680 |
|
|
|
|
|
long-term borrowings |
48.577 |
47.369 |
|
Short term borrowings |
298.965 |
159.428 |
|
Total borrowings |
347.542 |
206.797 |
|
Debt/Equity ratio |
1.706 |
0.893 |
LOCAL AGENCY FURTHER INFORMATION
DETAILS OF CURRENT MATURITIES OF LONG TERM
DEBT: NOT AVAILABLE
|
Sr. No. |
Check List by Info
Agents |
Available in Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
Yes |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
Yes |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact person |
Yes |
|
11] |
Turnover of firm for last two 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 |
No |
|
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 |
Yes |
UNSECURED LOAN
|
Particulars |
As
on 31.03.2013 [Rs.
in Millions] |
As
on 31.03.2012 [Rs.
in Millions] |
|
Long Term
Borrowings |
|
|
|
Loans and Advances From Related Parties |
46.487 |
46.957 |
|
TOTAL
|
46.487 |
46.957 |
|
S.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10320690 |
31/10/2011 |
330,000,000.00 |
STANDARD CHARTERED BANK |
SME CREDIT,
CRESCENZO, 3A/F, PLOT NO. C-38 & 39, |
B26629253 |
|
2 |
90146082 |
21/03/2014 * |
560,000,000.00 |
STATE BANK OF INDIA |
IFB, NATRAJ BUILDING,
102, 1ST FLOOR, 194,, SIR M |
C03775418 |
FINANCIAL RESULTS:
The Company has made a Profit to the tune of Rs. 42.381 Millions as against
Profit of Rs. 19.676 Millions during the previous year.
FIXED ASSETS:
·
Furniture and Fixtures
·
Air Conditioner
·
Office Equipments
·
Computer
·
Motor Car
·
Plant and Machinery
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.61.43 |
|
|
1 |
Rs.99.73 |
|
Euro |
1 |
Rs.77.93 |
INFORMATION DETAILS
|
Information
Gathered by : |
HTL |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
JAY |
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 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
5 |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
42 |
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.