MIRA
INFORM REPORT
|
Report Date : |
30.09.2014 |
IDENTIFICATION DETAILS
|
Name : |
SYMRISE PRIVATE LIMITED (w.e.f. 19.08.2004) |
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|
|
|
Formerly Known
As : |
SYMRISE LIMITED (w.e.f. 01.03.2004) DRAGOCO INDIA LIMITED (w.e.f. 12.05.1994) CORAL AROMATICS PRIVATE LIMITED |
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Registered
Office : |
140, |
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Country : |
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|
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Financials (as
on) : |
31.12.2013 |
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|
|
|
Date of
Incorporation : |
17.12.1990 |
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|
|
|
Com. Reg. No.: |
18-020035 |
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|
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Capital
Investment / Paid-up Capital : |
Rs.33.165 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24294TN1990PTC020035 |
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|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
CHED00571E |
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|
|
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PAN No.: [Permanent Account No.] |
AAACD2686A |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturing, Exporting and Marketing of Flavours, Fragrances,
Cosmetic Materials and Aroma Chemicals. |
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|
|
|
No. of Employees
: |
Not Divulged |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (50) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 4500000 |
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|
|
|
Status : |
Satisfactory |
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|
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
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Comments : |
Subject is a subsidiary of Symrise Holdings Pte. Limited ( It is an established company having satisfactory track record. There seems a huge growth in the profit of the company during 2013.
General financial position of the company is good. Trade relations are reported as fair. Business is active. Payments
terms are reported to be usually correct. The company can be considered normal for business dealings at usual
trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – June 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
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
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.
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 BY
|
Name : |
Mr. K. Kaushik |
|
Designation : |
Finance Manager |
|
Contact No.: |
Not Available |
|
Date : |
29.09.2014 |
LOCATIONS
|
Registered Office : |
140, Old Mahabalipurdam Road, Semmancheri, Chennai - 600119,
Tamilnadu, India |
|
Tel. No.: |
91-44-24501739 |
|
Fax. No. |
Not Available |
|
E-Mail : |
DIRECTORS
As on: 30.06.2014
|
Name : |
Mr. Markus Sattler |
|
Designation : |
Director |
|
Address : |
37603 Holzminden, Meiernberg, 12, Germany |
|
Date of Birth/Age : |
15.11.1967 |
|
Date of Appointment : |
07.11.2007 |
|
DIN No.: |
01997233 |
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|
|
|
Name : |
Mr. Declan Pearse Macfadden |
|
Designation : |
Director |
|
Address : |
16 Holland Hill, #03-14, Singapore – 278745 |
|
Date of Birth/Age : |
19.04.1954 |
|
Date of Appointment : |
21.06.2010 |
|
DIN No.: |
02843315 |
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|
|
|
Name : |
Mr. Sundar Vinnavadi |
|
Designation : |
Whole Time Director |
|
Address : |
4/468 Shri Anugraha, 8th South Cross Street, Kapaleeshwar
Nagar, Neelankarai, Chennai – 600041, Tamilnadu, India |
|
Date of Birth/Age : |
15.05.1957 |
|
Date of Appointment : |
30.06.2011 |
|
DIN No.: |
03270955 |
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|
|
|
Name : |
Mr. Markus Alec Steger |
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Designation : |
Director |
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Address : |
32, Alley No. 1384, Huai Hai, |
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Date of Birth/Age : |
09.07.1966 |
|
Date of Appointment : |
01.02.2011 |
|
DIN No.: |
03386636 |
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|
|
|
Name : |
Ms. Hui Chiung Leong |
|
Designation : |
Director |
|
Address : |
13 Hartley Grove, Singapore - 457882 |
|
Date of Birth/Age : |
15.05.1972 |
|
Date of Appointment : |
16.11.2012 |
|
DIN No.: |
06440343 |
KEY EXECUTIVES
|
Name : |
Mr. Sundar V |
|
Designation : |
Secretary |
|
Address : |
4/468 Shri Anugraha, 8th South Cross Street, Kapaleeshwar
Nagar, Neelankarai, Chennai – 600041, Tamilnadu, India |
|
Date of Appointment : |
02.01.1995 |
|
PAN No.: |
AASPS6455R |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 30.06.2014
|
Names of Shareholders |
|
No. of Shares |
|
Symrise Holdings Pte. Limited, |
|
3316499 |
|
Symrise Pte. Limited, |
|
1 |
|
Total |
|
3316500 |
Equity Share Break up (Percentage of Total Equity)
As on: 30.06.2014
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing, Exporting and Marketing of Flavours, Fragrances,
Cosmetic Materials and Aroma Chemicals. |
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Products : |
· Acetanisole Cryst · Acetic Acid Natural · Vanillin Natural Proc and Symvanil · Allyl Caproate · Allinat / Allyl Isothiocyanate Unstab · Acetophenone · Acetyl Thiazoline-2 ·
Agrumex Hc · Benzyl Benzoate Ph · Chrysantheme · Rose Oxide Inactive · Rose Oxide Inactive High Cis · Styrallyl Acetate · Tabanon · Terpinenol-4 · Terpinenol-4 Natural · Terranol · Tetrahydro Thiophenone-3 · Thymol Cryst · Thymol Cryst Ph · Thymol Dist · Timberol · Vertosine · Vetikolacetat · Vinylguaiacol Natural 10in Triacetin · Ysamber K · Allinat / Allyl Isothiocyanate Bht · Vertocitral C · Vetikon · Vetival ·
Rose Oxide L |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
GENERAL INFORMATION
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Suppliers : |
Not Divulged |
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Customers : |
Not Divulged |
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No. of Employees : |
Not Divulged |
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Bankers : |
·
The Hongkong and Shanghai Banking Corporation
Limited, 30, Rajaji Salai, Chennai – 600001, Tamilnadu, India ·
HSBC Bank Limited ·
Deutsche Bank ·
Indian bank ·
State Bank of India |
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Facilities : |
(Rs.
In Millions)
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
BSR and Company Chartered Accountants |
|
Address : |
No.10, Mahatma Gandhi Road, Nungambakkam, Chennai - 600034, Tamilnadu,
India |
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PAN No.: |
AAIFB0630K |
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Ultimate Holding
Company: |
·
Symrise AG, Germany |
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Holding Company: |
·
Symrise Holding Private Limited (Singapore) |
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|
Fellow Subsidiary Company: |
·
Symrise Private Limited, Singapore ·
Symrise Asia Pacific Private Limited, Singapore ·
Symrise Inc., ·
Symrise S De RL de CV, ·
Symrise Aromas E Fragrancias Limited a, ·
Symrise ·
Symrise Limited, Colombia ·
Symrise Private Limited, Australia ·
Symrise Shanghai Limited, ·
Symrise S.A., France ·
Symrise (Private) Limited, South Africa ·
Symrise K.K. (Japan). ·
Synrise, Thailand ·
Synrise, Indonesia ·
Synrise, Philippiness ·
Synrise Limited, China |
CAPITAL STRUCTURE
As on: 30.06.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4500000 |
Equity Shares |
Rs.10/- each |
Rs.45.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3316500 |
Equity Shares |
Rs.10/- each |
Rs.33.165 Millions |
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|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.12.2013 |
31.12.2012 |
31.12.2011 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
33.165 |
33.165 |
33.165 |
|
(b) Reserves & Surplus |
1096.997 |
885.069 |
819.655 |
|
(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) |
1130.162 |
918.234 |
852.820 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
75.000 |
18.750 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
37.152 |
28.318 |
10.230 |
|
(c) Other long term liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
8.529 |
9.984 |
4.941 |
|
Total Non-current Liabilities (3) |
120.681 |
57.052 |
15.171 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term
borrowings |
197.131 |
109.683 |
0.000 |
|
(b) Trade payables |
338.331 |
529.719 |
364.257 |
|
(c) Other current
liabilities |
94.557 |
71.490 |
32.070 |
|
(d) Short-term provisions |
21.301 |
18.995 |
9.032 |
|
Total Current Liabilities (4) |
651.320 |
729.887 |
405.359 |
|
|
|
|
|
|
TOTAL |
1902.164 |
1705.173 |
1273.350 |
|
|
|
|
|
|
II. ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
244.911 |
210.420 |
220.651 |
|
(ii) Intangible Assets |
117.824 |
134.673 |
0.000 |
|
(iii) Capital work-in-progress |
42.069 |
16.927 |
3.301 |
|
(iv)
Intangible assets under development |
5.067 |
0.029 |
143.194 |
|
(b) Non-current Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
50.461 |
53.339 |
13.440 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
460.333 |
415.388 |
380.586 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
610.089 |
586.493 |
366.458 |
|
(c) Trade receivables |
676.590 |
582.635 |
446.423 |
|
(d) Cash and cash
equivalents |
127.336 |
89.636 |
60.288 |
|
(e) Short-term loans
and advances |
27.816 |
31.021 |
19.595 |
|
(f) Other current
assets |
0.000 |
0.000 |
0.000 |
|
Total Current Assets |
1441.831 |
1289.785 |
892.764 |
|
|
|
|
|
|
TOTAL |
1902.164 |
1705.173 |
1273.350 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.12.2013 |
31.12.2012 |
31.12.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
|
|
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL (A) |
3315.000 |
2555.000 |
2468.000 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL (B) |
2939.000 |
2404.000 |
2234.000 |
|
|
|
|
|
|
|
|
Less |
PROFIT/(LOSS)
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
376.000 |
151.000 |
234.000 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
10.000 |
1.000 |
2.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
366.000 |
150.0000 |
232.000 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
50.000 |
45.000 |
21.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX (E-F) (G) |
316.000 |
105.000 |
211.000 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
104.000 |
40.000 |
67.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
AFTER TAX (G-H) (I) |
212.000 |
65.000 |
144.000 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
FOB value of Export |
|
|
53.532 |
|
|
|
Commission Earnings |
|
|
0.047 |
|
|
TOTAL EARNINGS |
116.000 |
78.200 |
53.579 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
|
|
918.652 |
|
|
|
Capital Goods |
|
|
157.437 |
|
|
TOTAL IMPORTS |
NA |
NA |
1076.089 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
63.92 |
19.60 |
43.42 |
|
KEY RATIOS
|
PARTICULARS |
|
31.12.2013 |
31.12.2012 |
31.12.2011 |
|
PAT / Total Income |
(%) |
6.40 |
2.54 |
5.83 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
18.19 |
6.76 |
18.72 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.28 |
0.11 |
0.25 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.24 |
0.14 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.21 |
1.77 |
2.20 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.12.2011 |
31.12.2012 |
31.12.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Share Capital |
33.165 |
33.165 |
33.165 |
|
Reserves & Surplus |
819.655 |
885.069 |
1096.997 |
|
Net
worth |
852.820 |
918.234 |
1130.162 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
18.750 |
75.000 |
|
Short term borrowings |
0.000 |
109.683 |
197.131 |
|
Total
borrowings |
0.000 |
128.433 |
272.131 |
|
Debt/Equity
ratio |
0.000 |
0.140 |
0.241 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.12.2011 |
31.12.2012 |
31.12.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Total Income |
2468.000 |
2555.000 |
3315.000 |
|
|
|
3.525 |
29.746 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.12.2011 |
31.12.2012 |
31.12.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Total Income |
2468.000 |
2555.000 |
3315.000 |
|
Profit |
144.000 |
65.000 |
212.000 |
|
|
5.83% |
2.54% |
6.40% |
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 |
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 |
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 |
INDEX OF CHARGES:-
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
10390809 |
21/10/2013 * |
100,000,000.00 |
THE HONGKONG AND SHANGHAI BANKING
CORPORATION LIMITED |
30, RAJAJI SALAI, CHENNAI, TAMINADU -
600001, INDIA |
B89121529 |
|
2 |
90297817 |
18/11/2013 * |
232,000,000.00 |
THE HONGKONG AND SHANGHAI BANKING CORPORATION
LIMITED |
30, RAJAJI SALAI, CHENNAI, TAMINADU -
600001, INDIA |
B89995484 |
*Date of modification Charges
FIXED ASSETS:
·
Land
·
Building
·
Plant and Machinery
·
Computer
·
Vehicles
·
Furniture and Fixture
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.61.42 |
|
|
1 |
Rs.99.72 |
|
Euro |
1 |
Rs.77.93 |
INFORMATION DETAILS
|
Information
Gathered by : |
HNA |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
MTN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--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 |
|
50 |
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.