MIRA INFORM REPORT
|
Report No. : |
354636 |
|
Report Date : |
17.12.2015 |
IDENTIFICATION DETAILS
|
Name : |
A. SCHULMAN PLASTICS INDIA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Plot No.-12, GIDC Industrial Estate, Near GEB Sub-Station, Savli,
Manjusar Vadodara-391775, Gujarat |
|
Tel. No.: |
91-2667-619400 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2015 |
|
|
|
|
Date of
Incorporation : |
26.02.2010 |
|
|
|
|
Com. Reg. No.: |
04-077614 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 180.475 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U25199GJ2010FTC077614 |
|
|
|
|
IEC No.: |
0310080894 |
|
|
|
|
TAN No.: [Tax Deduction & Collection
Account No.] |
Not Available |
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|
|
|
PAN No.: [Permanent Account No.] |
AAICA5441N |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Plastics Substances
or their Derivatives including Master Batch and Trader of Master Batch,
Engineering Plastic and Specialty Powder (Registered Activity) |
|
|
|
|
No. of Employees
: |
Information declined by the Management |
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 |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
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|
|
Comments : |
Subject is a subsidiary of A. Schulman Plastics BVBA (Belgium)
incorporated in the year 2010. The company’s net worth is eroded due to accumulated loss and reported
huge borrowings. However, the company has achieved decent revenue base which has
improved as compared to last year. It has adequate cash accruals and
favourable gap between trade payables and receivables. Rating further takes into consideration the strong holding of the subject
company. Trade relations are fair. Business is active. Payments are 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.
EXTERNAL AGENCY RATING
NOT AVAILABLE
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
31-03-2015.
INFORMATION DECLINED BY
|
Name : |
Mr. Himanshu |
|
Designation : |
Accounts Manager |
|
Contact No.: |
91-2667-619400 |
|
Date : |
14.12.2015 |
LOCATIONS
|
Registered Office/ Factory : |
Plot No.-12, GIDC Industrial Estate, Near GEB Sub-Station, Savli,
Manjusar Vadodara-391775, Gujarat,
India |
|
Tel. No.: |
91-2667-619400/ 401 |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Website : |
DIRECTORS
AS ON 25.07.2014
|
Name : |
Mr. Derek Roy Bristow |
|
Designation : |
Director |
|
Address : |
3 Bells Pl, Carindale, 4152, Australia |
|
Date of Birth/Age : |
30.01.1960 |
|
Date of Appointment : |
30.07.2010 |
|
DIN No.: |
03139459 |
|
|
|
|
Name : |
Mr. Jonathan Francis Vear |
|
Designation : |
Director |
|
Address : |
11 Michael St, Beauma, Ris Victoria, 3193, Australia. |
|
Date of Birth/Age : |
21.08.1966 |
|
Date of Appointment : |
26.02.2011 |
|
DIN No.: |
03582378 |
|
|
|
|
Name : |
Mr. Priyadarshi Natwerlal Joshi |
|
Designation : |
Director |
|
Address : |
5 Vatika Bunglows, B/H Ruturaj Apartment, Nr. Sabri School, Vasna
Road, Vadodara - 391775 Gujarat, India |
|
Date of Birth/Age : |
08.07.1974 |
|
Date of Appointment : |
18.03.2014 |
|
PAN No : |
ACVPJ9173A |
|
DIN No.: |
06858744 |
KEY EXECUTIVES
|
Name : |
Ms. Esha Milan Desai |
|
Designation : |
Secretary |
|
Address : |
A 18, AUM Bunglows, Laxmipura Road, Gorwa, Vadodara - 390016, Gujarat,
India |
|
Date of Birth/Age : |
17.09.1989 |
|
Date of Appointment : |
10.06.2014 |
|
PAN No.: |
BWTPP4042B |
|
|
|
|
Name : |
Mr. Himanshu |
|
Designation : |
Accounts Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2015
|
Names of Shareholders |
|
No. of Shares |
|
A. Schulman Plastics BVBA, Belgium |
|
18047449 |
|
A. Schulman Holding NGS SARL, Luxembourg |
|
1 |
|
Total |
|
18047450 |
AS ON 25.07.2014
|
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
of Plastics Substances or their Derivatives including Master Batch and Trader
of Master Batch, Engineering Plastic and Specialty Powder (Registered
Activity) |
|
|
|
|
Brand Names : |
-- |
|
|
|
|
Agencies Held : |
-- |
|
|
|
|
Exports : |
Not Divulged |
|
|
|
|
Imports : |
Not Divulged |
|
|
|
|
Terms : |
Not Divulged |
PRODUCTION STATUS: NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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No. of Employees : |
Information declined by the Management |
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Bankers : |
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Facilities : |
-- |
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Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Mukund
and Rohit Chartered Accountants |
|
Address : |
E-8,
Avishkar Complex, Old Padra Road, Vadodara -390007, Gujarat, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AACFM4355J |
|
|
|
|
Memberships : |
-- |
|
|
|
|
Collaborators : |
-- |
|
|
|
|
Holding Company : |
A
Schulman Plastics BVBA |
|
|
|
|
Ultimate Holding Company : |
A.
Schulman Inc., Delaware |
|
|
|
|
Associate : |
·
ICO Polymers North America Inc ·
ICO Holland BV ·
ICO Polymers France S.A.S ·
ICO Polymers Italy SRL ·
A.Schulman ·
A.Schulman Nordic AB |
|
|
|
|
Fellow Subsidiary Company : |
·
Courtenay Polymers Pty Limited , Australia · Pt. A. Schulman Plastics Indonesia · A.Schulman Plastics (Malaysia) Sdn. Bhd. ·
A.Schulman Plastics (Dongguan) Limited ·
A. Schulman Asia Limited ·
A. Schulman Thermoplastics Compounds Sdn
Bhd ·
A. Schulman GMBH |
CAPITAL STRUCTURE
AS ON 31.03.2015
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
48,000,000 |
Equity Shares |
Rs. 10/- each |
Rs. 480.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
18,047,450 |
Equity Shares |
Rs. 10/- each |
Rs. 180.475
Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
180.475 |
180.475 |
180.475 |
|
(b) Reserves & Surplus |
(235.559) |
(189.952) |
(128.206) |
|
(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) |
(55.084) |
(9.477) |
52.269 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
538.995 |
489.010 |
283.400 |
|
(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 |
3.094 |
1.982 |
0.702 |
|
Total
Non-current Liabilities (3) |
542.089 |
490.992 |
284.102 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
(b)
Trade payables |
120.429 |
60.581 |
31.061 |
|
(c)
Other current liabilities |
10.650 |
18.292 |
25.596 |
|
(d)
Short-term provisions |
0.206 |
0.136 |
0.814 |
|
Total
Current Liabilities (4) |
131.285 |
79.009 |
57.471 |
|
|
|
|
|
|
TOTAL |
618.290 |
560.524 |
393.842 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
204.166 |
235.212 |
213.352 |
|
(ii)
Intangible Assets |
10.413 |
4.570 |
0.056 |
|
(iii)
Capital work-in-progress |
0.000 |
0.000 |
26.464 |
|
(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 |
0.000 |
0.000 |
|
(d) Long-term Loan
and Advances |
27.899 |
27.899 |
27.653 |
|
(e)
Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
242.478 |
267.681 |
267.525 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
89.857 |
47.595 |
17.893 |
|
(c)
Trade receivables |
157.253 |
131.716 |
11.493 |
|
(d)
Cash and cash equivalents |
53.102 |
58.878 |
49.600 |
|
(e)
Short-term loans and advances |
74.498 |
50.749 |
42.690 |
|
(f)
Other current assets |
1.102 |
3.905 |
4.641 |
|
Total
Current Assets |
375.812 |
292.843 |
126.317 |
|
|
|
|
|
|
TOTAL |
618.290 |
560.524 |
393.842 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from Operations |
696.481 |
489.128 |
46.046 |
|
|
|
Other Income |
8.914 |
7.817 |
2.733 |
|
|
|
TOTAL |
705.395 |
496.945 |
48.779 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
608.316 |
|
|
|
|
|
Purchases of Stock-in-Trade |
9.089 |
7.845 |
|
|
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
(28.952) |
(5.333) |
|
|
|
|
Employees benefits expense |
34.459 |
32.625 |
|
|
|
|
Other expenses |
89.611 |
88.031 |
|
|
|
|
TOTAL |
712.523 |
531.930 |
124.545 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
(7.128) |
(34.985) |
(Including
Financial and Depreciation Expenses) |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
1.120 |
0.747 |
|
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
(8.248) |
(35.732) |
|
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
35.451 |
25.850 |
|
|
|
|
|
|
|
|
|
|
|
PRIOR PERIOD
EXPENSES |
1.907 |
0.164 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
(45.606) |
(61.746) |
(75.766) |
|
|
|
|
|
|
|
|
|
Less |
TAX |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
(45.606) |
(61.746) |
(75.766) |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
6.398 |
13.577 |
18.661 |
|
|
TOTAL EARNINGS |
|
6.398 |
13.577 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
383.606 |
257.220 |
NA |
|
|
|
Capital Goods |
0.000 |
2.208 |
NA |
|
|
TOTAL IMPORTS |
383.606 |
259.428 |
NA |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
(2.53) |
(3.42) |
(4.20) |
|
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
Current Maturities of Long term debt |
NA |
NA |
NA |
|
|
|
|
|
|
Cash Generated from Operations |
NA |
NA |
NA |
|
|
|
|
|
|
Net Cash Flow from (used in) Operations |
(45.152) |
(170.899) |
(76.035) |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
Net Profit Margin (PAT / Sales) |
(%) |
(6.55) |
(12.62) |
(164.54) |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/Sales) |
(%) |
(1.02) |
(7.15) |
NA |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(7.38) |
(11.02) |
(20.62) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.83 |
6.52 |
(1.45) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
(9.78) |
(51.60) |
5.42 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.86 |
3.71 |
2.20 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2013 |
31.03.2014 |
31.03.2015 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Share Capital |
180.475 |
180.475 |
180.475 |
|
Reserves & Surplus |
(128.206) |
(189.952) |
(235.559) |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
52.269 |
(9.477) |
(55.084) |
|
|
|
|
|
|
Long-term borrowings |
283.400 |
489.010 |
538.995 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Total
borrowings |
283.400 |
489.010 |
538.995 |
|
Debt/Equity
ratio |
5.422 |
(51.600) |
(9.785) |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2013 |
31.03.2014 |
31.03.2015 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Sales |
46.046 |
489.128 |
696.481 |
|
|
|
962.259 |
42.392 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2013 |
31.03.2014 |
31.03.2015 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Sales |
46.046 |
489.128 |
696.481 |
|
Profit/ (Loss) |
(75.766) |
(61.746) |
(45.606) |
|
|
(164.54%) |
(12.62%) |
(6.55%) |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
|
1 |
Year of establishment |
Yes |
|
2 |
Constitution of the entity -Incorporation
details |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
No |
|
5 |
Buyer visit details |
-- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
No |
|
8 |
Designation of contact person |
No |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
No |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
No |
|
16 |
No. of employees |
No |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
No |
|
21 |
Banking facility details |
No |
|
22 |
Conduct of the banking account |
-- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
Yes |
|
26 |
Turnover of firm for last three years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
No |
|
32 |
Litigations that the firm/promoter
involved in |
-- |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
INDEX OF CHARGES: NO
CHARGES EXIST FOR COMPANY
UNSECURED LOANS
|
PARTICULARS |
31.03.2015 (Rs.
In Million) |
31.03.2014 (Rs.
In Million) |
|
LONG-TERM BORROWINGS |
|
|
|
Fully
convertible debentures Intercorporate |
538.995 |
489.010 |
|
|
|
|
|
Total |
538.995 |
489.010 |
OPERATIONS:
During the year, the
company has successfully established commercial production of various white
Master Batch products. Total revenue during the financial year 2014-15 has been
increased to INR Rs. 705.395 Million as compared to the last year of INR Rs.
496.947 Million. Net loss incurred during the financial year 2014-15 has been
decreased to INR Rs. 45.606 Million as compared to last year INR Rs. 61.746
Million.
CHANGE OF ADDRESS:
The Registered Office of the company has been shifted from 202/Twin
Complex, Phase-1, Opposite Fire Bridge Office, Marol Maroshi Road, Andheri
(East), Mumbai-400059, Maharashtra, India to the present address w.e.f
21.11.2013
FIXED ASSETS:
Tangible Assets
·
Land
·
Buildings
·
Plant and Equipment
·
Furniture and Fixtures
·
Vehicles
·
Office Equipment
·
Computer Equipments
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. 66.84 |
|
|
1 |
Rs. 100.58 |
|
Euro |
1 |
Rs. 73.16 |
INFORMATION DETAILS
|
Information
Gathered by : |
PRT |
|
|
|
|
Analysis Done by
: |
AMR |
|
|
|
|
Report Prepared
by : |
IND |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
2 |
|
--RESERVES |
1~10 |
2 |
|
--CREDIT LINES |
1~10 |
3 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--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 |
|
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.