MIRA INFORM REPORT
|
Report No. : |
325178 |
|
Report Date : |
04.06.2015 |
IDENTIFICATION DETAILS
|
Name : |
SYMRISE PRIVATE LIMITED (w.e.f. 19.08.2004) |
|
|
|
|
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, Old Mahabalipurdam Road, Semmancheri, Chennai - 600119, Tamilnadu |
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Country : |
India |
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|
|
|
Financials (as
on) : |
31.12.2013 |
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|
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Date of
Incorporation : |
17.12.1990 |
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|
|
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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 Million |
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|
|
|
CIN No.: [Company Identification
No.] |
U24294TN1990PTC020035 |
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|
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IEC No.: |
Not Available |
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TAN No.: [Tax Deduction &
Collection Account No.] |
CHED00571E |
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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 3229000 |
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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 (Singapore). It is an established company having satisfactory track record. There seems a huge growth in the profit of the company during December
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 – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
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
31-03-2013.
INFORMATION DENIED BY
|
Name : |
Mr. Kannan |
|
Designation : |
Account Manager |
|
Contact No.: |
91-44-24501739 |
|
Date : |
30.05.2015 |
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 |
|
|
|
|
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 |
|
|
|
|
Name : |
Mr. Markus Alec Steger |
|
Designation : |
Director |
|
Address : |
32, Alley No. 1384, Huai Hai, |
|
Date of Birth/Age : |
09.07.1966 |
|
Date of Appointment : |
01.02.2011 |
|
DIN No.: |
03386636 |
|
|
|
|
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 : |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
Not Divulged |
PRODUCTION STATUS –
NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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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)
|
|
Banking
Relations : |
-- |
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|
|
|
Auditors : |
|
|
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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|
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Memberships : |
-- |
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Collaborators : |
-- |
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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 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3316500 |
Equity Shares |
Rs.10/- each |
Rs.33.165 Million |
|
|
|
|
|
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 |
3315.000 |
2555.000 |
2468.000 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
2939.000 |
2404.000 |
2234.000 |
|
|
|
|
|
|
|
|
Less |
PROFIT/(LOSS)
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
376.000 |
151.000 |
234.000 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
10.000 |
1.000 |
2.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION |
366.000 |
150.0000 |
232.000 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
50.000 |
45.000 |
21.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX |
316.000 |
105.000 |
211.000 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
104.000 |
40.000 |
67.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
AFTER TAX |
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 Liability /Networth) |
|
0.26 |
0.15 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.21 |
1.77 |
2.20 |
Total Liability = Short-term Debt + Long-term Debt + Current Maturities
of Long-term debts
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.12.2013 (Rs.
In Millions) |
31.12.2012 (Rs.
In Millions) |
31.12.2011 (Rs.
In Millions) |
|
Current Maturities of Long term debt |
25.000 |
6.250 |
0.000 |
|
Cash generated from operations |
NA |
NA |
NA |
|
|
|
|
|
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 |
|
Current Maturities of Long term debt |
0.000 |
6.250 |
25.000 |
|
Net
worth |
852.820 |
924.484 |
1155.162 |
|
|
|
|
|
|
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 |
0.139 |
0.236 |
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 |
Constitution of the entity -Incorporation
details |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
Yes |
|
5 |
Buyer visit details |
No |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
Yes |
|
8 |
Designation of contact person |
Yes |
|
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 |
Yes |
|
21 |
Banking facility details |
Yes |
|
22 |
Conduct of the banking account |
No |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
No |
|
26 |
Turnover of firm for last three years |
Yes |
|
27 |
Reasons for variation <> 20% |
No |
|
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 |
No |
|
33 |
Market information |
No |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
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.63.85 |
|
|
1 |
Rs.98.12 |
|
Euro |
1 |
Rs.71.28 |
INFORMATION DETAILS
|
Information Gathered
by : |
HNA |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
ANK |
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.