MIRA
INFORM REPORT
|
Report No. : |
297894 |
|
Report Date : |
19.01.2015 |
|
|
|
|
Tel. No.: |
91-44-4266 6618 |
|
Fax No.: |
91-44-4266 6615 |
IDENTIFICATION DETAILS
|
Name : |
SRIRAM FOAMS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
No. 72, 1st Floor, Mehta Villa, Balaji Nagar, Padikuppam Road, Anna
Nagar (West), Chennai – 600040, Tamilnadu |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
10.04.2006 |
|
|
|
|
Com. Reg. No.: |
18-059477 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 2.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U25209TN2006PTC059477 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
CHES25996F |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAJCS8059H |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Moulded PU Product and Foams, Elastomer and other
types of Industrial PU. |
|
|
|
|
No. of Employees
: |
65 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 28000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track record. General financial position of the company is normal and acceptable for
business dealing. Trade relations are reported as fair. Business is active. Payment
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 – September 30, 2014
|
Country Name |
Previous Rating (30.06.2014) |
Current Rating (30.09.2014) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
Not Available |
|
Rating |
Not Available |
|
Rating Explanation |
Not Available |
|
Date |
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
31-03-2014.
INFORMATION PARTED BY (GENERAL DETAILS)
|
Name : |
Mr. Selva Kumar |
|
Designation : |
Accountant |
|
Contact No.: |
91-44-42666618 |
|
Date : |
07.01.2015 |
LOCATIONS
|
Registered Office : |
No. 72, 1st Floor, Mehta Villa, Balaji Nagar, Padikuppam Road, Anna
Nagar [West], Chennai – 600040, Tamilnadu, India |
|
Tel. No.: |
91-44-42666618 |
|
Mobile No.: |
91-9841298423 [Mr. Pampaiyan Muthukumar] 91-8754445381 [Mr. Prabhu Ram] |
|
Fax No.: |
91-44-42666615 |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
1000 Sq. ft |
|
Location : |
Owned |
|
|
|
|
Factory : |
SF. 123/2A7, Perumal Koin Street, Periya Mathur, Chennai - 600068,
Tamilnadu, India |
|
Area : |
10000 Sq. ft |
|
Location : |
Owned |
DIRECTORS
AS ON 30.09.2013
|
Name : |
Mr. Thirumurthi Arunachalam |
|
Designation : |
Director |
|
Address : |
11&12,
Jaswanth Nagar, Mogappair West, Chennai
– 600037, Tamilnadu, India |
|
Date of Birth/Age : |
20.05.1969 |
|
Date of Appointment : |
10.04.2006 |
|
PAN No.: |
AANPT7535N |
|
DIN No.: |
01632616 |
|
|
|
|
Name : |
Mr. Muthukumar Pampaiyan |
|
Designation : |
Director |
|
Address : |
Metha Villa, 72,
Balaji Nagar, Padikuppam Road, Anna Nagar, Chennai – 600040, Tamilnadu, India |
|
Date of Birth/Age : |
05.07.1971 |
|
Date of Appointment : |
10.04.2006 |
|
DIN No.: |
01632673 |
|
|
|
|
Name : |
Mr. Radhika Muthukumar |
|
Designation : |
Director |
|
Address : |
Metha Villa, 72,
Balaji Nagar, Padikuppam Road, Anna Nagar, Chennai – 600040, Tamilnadu, India |
|
Date of Birth/Age : |
30.05.1973 |
|
Date of Appointment : |
10.04.2006 |
|
DIN No.: |
06422323 |
|
|
|
|
Name : |
Mr. Malarvizhi Thirumoorthy |
|
Designation : |
Director |
|
Address : |
11&12,
Jaswanth Nagar, Mogappair West, Chennai
– 600037, Tamilnadu, India |
|
Date of Birth/Age : |
26.06.1975 |
|
Date of Appointment : |
10.04.2006 |
|
DIN No.: |
06422328 |
KEY EXECUTIVES
|
Name : |
Mr. Prabhu Ram |
|
Designation : |
General Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2013
|
Name
of Shareholders |
No.
of Shares |
%age |
|
|
80000 |
40.00 |
|
|
20000 |
10.00 |
|
P. Muthukumar |
80000 |
40.00 |
|
M. Radhika |
20000 |
10.00 |
|
Total |
200,000 |
100.00 |
AS ON 30.09.2013
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Directors
or relatives of directors |
|
100.00 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Moulded PU Product and Foams, Elastomer and other
types of Industrial PU. |
|
|
|
|
Exports : |
|
|
Products : |
Finished Goods |
|
Countries : |
Ø Iran Ø Iraq Ø Dubai Ø France Ø Malaysia |
|
|
|
|
Imports : |
|
|
Products : |
Raw Material |
|
Countries : |
Ø Italy Ø China |
|
|
|
|
Terms : |
|
|
Selling : |
Cash and Credit |
|
|
|
|
Purchasing : |
Cash and Credit |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
End Users
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No. of Employees : |
65 (Approximately) |
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Bankers : |
Ø HDFC Bank
Limited, HDFC Bank House, Senapati Bapat Marg, Lower Parel [West], Mumbai -
400013, Maharashtra, India Ø Bank of India,
25 A Redhills High Road, Kolathur, Chennai - 600099, Tamilnadu, India |
||||||||||||||||||
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|
||||||||||||||||||
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Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Sundararajan Associates Chartered Accountants |
|
Address : |
Romar House, Chamber D, 3rd Floor, 6/9 (old 15/9)
Jaganathan Road, , Nungambakkam, Chennai – 600034, Tamilnadu, India |
|
Tel. No.: |
91-44-28261955/ 28234855 |
|
Mobile : |
91-9500031585 |
|
Fax No.: |
91-44-42081955 |
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E-Mail : |
|
|
Website : |
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|
Income-tax
PAN of auditor or auditor's firm : |
AKGPV9826P |
|
Memberships : |
-- |
|
|
|
|
Collaborators : |
-- |
|
|
|
|
Associates/Subsidiaries : |
NIL |
CAPITAL STRUCTURE
As on 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
300,000 |
Equity Shares |
Rs. 10/- each |
Rs. 3.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
200,000 |
Equity Shares |
Rs. 10/- each |
Rs. 2.000 Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES
OF FUNDS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
2.000 |
2.000 |
2.000 |
|
(b) Reserves & Surplus |
4.100 |
2.691 |
2.340 |
|
(c) Money received against
share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money
pending allotment |
3.801 |
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
9.901 |
4.691 |
4.340 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
2.435 |
0.868 |
2.172 |
|
(b) Deferred tax liabilities
(Net) |
0.250 |
0.242 |
0.148 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total
Non-current Liabilities (3) |
2.685 |
1.110 |
2.320 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
1.167 |
5.375 |
4.221 |
|
(b) Trade payables |
9.508 |
11.047 |
6.099 |
|
(c) Other current liabilities |
3.322 |
2.719 |
2.735 |
|
(d) Short-term provisions |
3.496 |
1.891 |
1.942 |
|
Total
Current Liabilities (4) |
17.493 |
21.032 |
14.997 |
|
|
|
|
|
|
TOTAL |
30.079 |
26.833 |
21.657 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
10.988 |
11.142 |
7.588 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(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) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
2.137 |
1.593 |
1.814 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
13.125 |
12.735 |
9.402 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
3.787 |
2.315 |
1.621 |
|
(c) Trade receivables |
10.663 |
9.441 |
9.243 |
|
(d) Cash and cash equivalents |
0.281 |
1.755 |
0.294 |
|
(e) Short-term loans and
advances |
2.223 |
0.587 |
1.097 |
|
(f) Other current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
16.954 |
14.098 |
12.255 |
|
|
|
|
|
|
TOTAL |
30.079 |
26.833 |
21.657 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Income |
63.765 |
49.766 |
52.900 |
|
|
Other Income |
|
0.094 |
0.015 |
|
|
TOTAL
(A) |
63.765 |
49.860 |
52.915 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Material consumed |
|
34.375 |
37.999 |
|
|
Purchase of stock-in-trade |
58.525 |
0.207 |
0.470 |
|
|
Changes in inventories of finished goods |
|
(0.163) |
0.023 |
|
|
Employee benefit expenses |
|
8.323 |
7.145 |
|
|
Other expenses |
|
4.002 |
3.832 |
|
|
TOTAL
(B) |
58.525 |
46.744 |
49.469 |
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (C) |
5.240 |
3.116 |
3.446 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
0.992 |
1.231 |
1.047 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
4.248 |
1.885 |
2.399 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION (F) |
2.014 |
1.335 |
1.203 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F) (G) |
2.234 |
0.550 |
1.196 |
|
|
|
|
|
|
|
Less |
TAX
(I) |
0.825 |
0.199 |
0.398 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-I)
(J) |
1.409 |
0.351 |
0.798 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
7.05 |
1.75 |
3.99 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit
Margin (PAT / Sales) |
(%) |
NA |
0.71 |
1.51 |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
NA |
6.26 |
6.51 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
7.43 |
2.05 |
5.52 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.23 |
0.12 |
0.28 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.36 |
1.33 |
1.47 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.97 |
0.67 |
0.82 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Share Capital |
2.000 |
2.000 |
2.000 |
|
Reserves & Surplus |
2.340 |
2.691 |
4.100 |
|
Net
worth |
4.340 |
4.691 |
6.100 |
|
|
|
|
|
|
long-term borrowings |
2.172 |
0.868 |
2.435 |
|
Short term borrowings |
4.221 |
5.375 |
1.167 |
|
Total
borrowings |
6.393 |
6.243 |
3.602 |
|
Debt/Equity
ratio |
1.473 |
1.331 |
0.590 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Total Income |
52.915 |
49.860 |
63.765 |
|
|
|
(5.773) |
27.888 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Total Income |
52.915 |
49.860 |
63.765 |
|
Profit |
0.798 |
0.351 |
1.409 |
|
|
1.51% |
0.70% |
2.21% |
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 |
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 |
No |
|
17] |
Major suppliers |
Yes |
|
18] |
Major customers |
Yes |
|
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 |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
No |
UNSECURED LOAN
|
PARTICULARS |
31.03.2014 (Rs.
in Millions) |
31.03.2013 (Rs.
in Millions) |
|
Short-term
borrowings |
|
|
|
Loans and advance from related parties |
0.636 |
1.332 |
|
Total |
0.636 |
1.332 |
Note: The registered
office of the company has been shifted from W-101, 3rd Floor, II
Avenue, Anna Nagar, Chennai - 600040, Tamilnadu, India to the present
w.e.f.07.01.2013
BACKGROUND:
Subject was incorporated on 10 April, 2006 as a Private Limited Company
under the Provisions of Companies Act. The Company is engaged in the business
of manufacturing Moulded PU Foams, Elastomer and other types of Industrial PU.
OPERATIONS:
The company earned a profit of Rs. 2.234 millions against Rs. 0.550
millions in the previous year. Liability for income tax (including deferred
tax) is estimated at Rs. 0.825 million leaving a distributable profit of Rs. 1.409
millions (previous year – Rs. 0.351 million)
The company is hopeful of increasing the sales and net profit further in
view of strengthening into new premises which is larger in capacity and cheaper
in cost.
FIXED ASSETS:
Ø Land
Ø Factory Building
Ø Computer
Ø Furniture
Ø Office equipment
Ø Vehicles
Ø Electrical fittings
Ø 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 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] 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.61.89 |
|
|
1 |
Rs.93.92 |
|
Euro |
1 |
Rs.72.01 |
INFORMATION DETAILS
|
Information
Gathered by : |
GYT |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
KVT |
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 |
|
--PROFITABILITY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
45 |
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.