MIRA INFORM REPORT
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Report No. : |
319656 |
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Report Date : |
04.05.2015 |
IDENTIFICATION DETAILS
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Name : |
CHEM-TREND CHEMICALS COMPANY PRIVATE LIMITED |
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Registered
Office : |
3rd Floor, Silver Jubilee Block, 3rd Cross,
Mission Road, Unity Buildings Annexe, Bangalore – 560027, Karnataka |
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Tel. No.: |
91-80-66901300 |
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Country : |
India |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
25.06.2001 |
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Com. Reg. No.: |
08-041703 |
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Capital
Investment / Paid-up Capital : |
Rs. 20.000 Million |
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CIN No.: [Company Identification
No.] |
U99999KA2001PTC041703 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
Not Available |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Trading in premier release agents for use in general
rubber, tyre, polyurethane, composites, thermoplastics and die casting industries. |
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No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (54) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 1040000 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having good track record. The rating reflects company sound financial risk profile marked by
healthy networth position and decent profitability of the company. Company is operating on its own funds. Trade relations are reported as fair. Business is active. Payments
terms are reported to be regular and as per commitment. 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 – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
India |
A1 |
A1 |
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Risk Category |
ECGC Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
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
31-03-2014.
LOCATIONS
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Registered Office : |
3rd Floor, Silver Jubilee Block, 3rd Cross,
Mission Road, Unity Buildings Annexe, Bangalore – 560027, Karnataka, India |
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Tel. No. : |
91-80-66901300/ 66901309/ 41240201 |
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Fax No. : |
91-80-41240209/ 66901201 |
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E-Mail : |
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Website : |
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Mysore Office : |
347-A, Hebbal Industrial Area, P.O. Metagalli, Mysore –
570016, Karnataka, India |
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Tel. No. : |
91-821-3941041 |
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Fax No. : |
91-821-2402825 |
DIRECTORS
As on 30.09.2014
|
Name : |
Karat Roger Viju Parameshwar |
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Designation : |
Director |
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Address : |
A2, Cornwell Rustumji, No. 3, Cornwell Road, Bangalore - 560025,
Karnataka, India |
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Date of Birth/Age : |
24.01.1953 |
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Qualification : |
B. Tech, M.S. |
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Date of Appointment : |
01.01.2006 |
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DIN No. : |
02446230 |
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Other Directorship :
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Name : |
Mr. Georg Graf |
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Designation : |
Director |
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Address : |
Stanmore Apartments, Old No. 11, New No. 9, Grant Road (Civil Station)
Off Vittal Mallya Road, Bangalore - 560001, Karnataka, India |
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Date of Birth/Age : |
30.04.1960 |
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Date of Appointment : |
30.09.2010 |
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DIN No. : |
02659975 |
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Other Directorship :
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Name : |
Devanir Lameiras Moraes |
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Designation : |
Director |
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Address : |
4671, Roundtree Dr, Brighton, Michigan, 481165139, United States of
America |
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Date of Appointment : |
20.01.2009 |
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DIN No. : |
03308573 |
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Name : |
Mr. Vishal Almal |
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Designation : |
Director |
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Address : |
Flat No. B-306, Temple Tree Apartment, 29/1, Kanakapura Road,
Bangalore - 560078, Karnataka, India |
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Date of Birth/Age : |
16.07.1974 |
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Date of Appointment : |
30.09.2014 |
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DIN No. : |
02834959 |
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Other Directorship :
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Name : |
Joerg Matthias Grossmann |
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Designation : |
Additional director |
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Address : |
Georg Kalb Str.14, Pullachi Isartal, 82049, Germany |
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Date of Appointment : |
17.03.2015 |
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DIN No. : |
00368004 |
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Other Directorship :
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Name : |
Carl Posluszny |
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Designation : |
Additional director |
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Address : |
565 Acadia Court, Howell, Michigan, 48843, United States Of America |
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Date of Appointment : |
23.02.2015 |
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DIN No. : |
07101631 |
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KEY EXECUTIVES
|
Name : |
Chester Arthur Martin |
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Designation : |
Head of Sales and Marketing |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 31.03.2014
|
Names of Shareholders |
No. of Shares |
Percentage of
Holding |
|
Chem-Trend Limited Partnership, USA |
1999800 |
99.99 |
|
Chem-Trend Holding Limited Partnership, USA |
200 |
0.01 |
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Total |
2000000 |
100.00 |
As on 30.09.2014
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
Foreign holdings( Foreign institutional investor(s),
Foreign companie(s) Foreign financial institution(s), Non-resident Indian(s)
or Overseas Corporate bodies or Others |
100.00 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Trading in premier release agents for use in general rubber,
tyre, polyurethane, composites, thermoplastics and die casting industries. |
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Products : |
Premier Release Agents |
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Brand Names : |
-- |
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Agencies Held : |
-- |
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Exports : |
-- |
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Imports : |
-- |
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Terms : |
-- |
PRODUCTION STATUS: NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
Not Available |
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Bankers : |
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Facilities : |
-- |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
S R Batliboi and Associates LLP Chartered Accountants |
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Address : |
12th Floor, Canberra Block, UB City, No 24, Vittal Mallya Road, Bangalore – 560001, Karnataka, India |
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Tel. No. : |
91-80-67275000 |
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Fax No. : |
91-80-22106000 |
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Income-tax
PAN of auditor or auditor's firm : |
ACHFS9118A |
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Memberships : |
-- |
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Collaborators : |
-- |
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Holding Company : |
Chem-Trend Limited Partnership, USA |
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Ultimate Holding Company: |
Freudenberg and Co. Kommanditgesellschaft, Germany |
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Fellow Subsidiary : |
· Kluber Lubrication India Private Limited · Chem-Trend Deutschland, Germany · Chem-Trend (Shanghai) Trade Co. Limited · Chem-Trend Singapore Pte. Limited · Chem-Trend Korea Limited · Freudenberg Tsunami Victims Relief Fund · Chem Trend · Chemlease Japan K.K. · Surtec Chemicals India Private Limited · Chem-Trade Holding Limited Partnership |
CAPITAL STRUCTURE
As on 30.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
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|
5,000,000 |
Equity Shares |
Rs.10/- each |
Rs. 50.000 Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2,000,000 |
Equity Shares |
Rs.10/- each |
Rs. 20.000 Million |
FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
I.
EQUITY
AND LIABILITIES |
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|
(1)Shareholders'
Funds |
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(a) Share Capital |
20.000 |
20.000 |
20.000 |
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(b) Reserves & Surplus |
343.740 |
262.074 |
194.387 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
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|
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(2)
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
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Total
Shareholders’ Funds (1) + (2) |
363.740 |
282.074 |
214.387 |
|
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(3) Non-Current
Liabilities |
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|
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(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
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(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 |
3.070 |
2.308 |
2.871 |
|
Total Non-current
Liabilities (3) |
3.070 |
2.308 |
2.871 |
|
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(4) Current Liabilities |
|
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|
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(a) Short
term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade
payables |
19.341 |
35.304 |
42.466 |
|
(c) Other
current liabilities |
21.931 |
10.980 |
21.596 |
|
(d) Short-term
provisions |
24.258 |
18.646 |
28.765 |
|
Total Current
Liabilities (4) |
65.530 |
64.930 |
92.827 |
|
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|
|
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TOTAL |
432.340 |
349.312 |
310.085 |
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II.
ASSETS |
|
|
|
|
(1) Non-current assets |
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(a) Fixed
Assets |
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|
|
|
(i)
Tangible assets |
13.954 |
11.922 |
3.147 |
|
(ii)
Intangible Assets |
0.000 |
0.600 |
1.200 |
|
(iii)
Capital work-in-progress |
0.000 |
2.753 |
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) |
12.013 |
12.067 |
9.114 |
|
(d) Long-term Loan and Advances |
4.212 |
17.079 |
18.388 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
1.958 |
|
Total Non-Current
Assets |
30.179 |
44.421 |
33.807 |
|
|
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|
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(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
56.972 |
50.891 |
50.684 |
|
(c) Trade
receivables |
93.614 |
83.822 |
84.013 |
|
(d) Cash
and cash equivalents |
52.124 |
72.643 |
81.713 |
|
(e)
Short-term loans and advances |
196.036 |
94.330 |
54.532 |
|
(f) Other
current assets |
3.415 |
3.205 |
5.336 |
|
Total
Current Assets |
402.161 |
304.891 |
276.278 |
|
|
|
|
|
|
TOTAL |
432.340 |
349.312 |
310.085 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
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|
|
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Income |
666.946 |
|
|
|
|
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Other Income |
15.151 |
11.582 |
|
|
|
|
TOTAL (A) |
682.097 |
529.325 |
463.018 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Purchase of Traded Goods (Premier Release Agents) |
417.226 |
330.507 |
|
|
|
|
(Increase)/ Decrease in Inventories |
(6.081) |
(0.207) |
|
|
|
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Employee Benefits Expense |
71.334 |
46.129 |
|
|
|
|
Other Expenses |
67.952 |
55.754 |
|
|
|
|
TOTAL (B) |
550.431 |
432.183 |
365.376 |
|
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|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX, DEPRECIATION
AND AMORTISATION (A-B) (C) |
131.666 |
97.142 |
97.642 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
0.851 |
0.410 |
0.103 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
130.815 |
96.732 |
97.539 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
3.696 |
1.998 |
1.270 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F)
(G) |
127.119 |
94.734 |
96.269 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
45.453 |
27.047 |
33.352 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-H) (I) |
81.666 |
67.687 |
62.917 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
3.525 |
2.011 |
2.474 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Traded Goods |
208.341 |
178.860 |
NA |
|
|
|
Capital Goods |
0.000 |
1.412 |
NA |
|
|
TOTAL IMPORTS |
208.341 |
180.272 |
NA |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
40.83 |
33.84 |
16.68 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT/Sales) |
(%) |
12.24 |
13.07 |
NA |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/Sales) |
(%) |
19.74 |
18.76 |
NA |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
30.24 |
28.32 |
31.99 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.35 |
0.34 |
0.45 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
6.14 |
4.70 |
2.98 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Share Capital |
20.000 |
20.000 |
20.000 |
|
Reserves & Surplus |
194.387 |
262.074 |
343.740 |
|
Net
worth |
214.387 |
282.074 |
363.740 |
|
|
|
|
|
|
Long-term Borrowings |
0.000 |
0.000 |
0.000 |
|
Short term Borrowings |
0.000 |
0.000 |
0.000 |
|
Total
borrowings |
0.000 |
0.000 |
0.000 |
|
Debt/Equity
ratio |
0.000 |
0.000 |
0.000 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Total Income |
463.018 |
529.325 |
682.097 |
|
|
|
14.321 |
28.862 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Sales |
463.018 |
529.325 |
682.097 |
|
Profit |
62.917 |
67.687 |
81.666 |
|
|
13.59% |
12.79% |
11.97% |
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 |
No |
|
10] |
Designation of contact
person |
No |
|
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 |
90359782 |
31/12/2003 * |
50,000,000.00 |
FOSCCO INDIA LIMITED |
SANASWADI, PUNE, MAHARASHTRA, INDIA |
- |
* Date of charge modification
CORPORATE
INFORMATION
The company was incorporated on June 25, 2001 with its registered office in Bangalore, India. The company is in the business of trading in premier release agents for use in general rubber, tyre, polyurethane, composites, thermoplastics and die casting industries. The company is a subsidiary of Chem-Trend Limited Partnership, USA. The ultimate holding company is Freudenberg and Co. Kommanditgesellschaft, Germany.
CHANGE OF ADDRESS
The registered office of the company has been shifted from 502, A-Wing, Delphi, Archid Avenue, Hiranandani Gardens, Powai, Mumbai – 400076, Maharashtra, India to the present address w.e.f. 12.01.2007.
OPERATIONS
2013-14 was an excellent year of the company which saw company’s sales going up by 29%. The company was able to get price increases from customers and also control costs which resulted in higher Gross Profit for the company and consequently higher profits.
OUTLOOK FOR THE
CURRENT YEAR
The current year is expected to be a normal year. However, the sudden and huge depreciation in rupee against dollar will have an impact on profitability of the company. The company is trying all measures to minimize the impact.
CONTINGENT
LIABILITIES:
|
PARTICULARS |
31.03.2014 (Rs.
In Millions) |
31.03.2013 (Rs.
In Millions) |
|
Bank Guarantees Given |
3.795 |
1.715 |
|
Claims against the company not acknowledged as Debts – Income Tax |
4.444 |
4.444 |
FIXED ASSETS
Tangible Assets
· Computers
· Vehicles
· Office Equipments
· Furniture and Fixture
· Laboratory EQuipments
Intangible Assets
· Non-Compete Rights
· Commercial Rights
· Goodwill
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. 63.58 |
|
|
1 |
Rs. 97.99 |
|
Euro |
1 |
Rs. 70.53 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
MRI |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILITY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
7 |
|
--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 |
|
54 |
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.