MIRA INFORM REPORT
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Report No. : |
322193 |
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Report Date : |
16.05.2015 |
IDENTIFICATION DETAILS
|
Name : |
SABIC INNOVATIVE PLASTICS INDIA PRIVATE LIMITED (w.e.f. 18.09.2007) |
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Formerly Known
As : |
ENDURING
PLASTICS PRIVATE LIMITED |
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Registered
Office : |
Plastics Avenue, P.O. Jawahar Nagar, Vadodara – 391320, Gujarat |
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Tel. No.: |
91-265-3068551/ 552/ 3068520 |
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Country : |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
25.04.2007 |
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Com. Reg. No.: |
04-050658 |
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Capital
Investment / Paid-up Capital : |
Rs.1086.225
Million |
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CIN No.: [Company Identification
No.] |
U25202GJ2007PTC050658 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
BRDE00346D |
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PAN No.: [Permanent Account No.] |
AABCE7565N |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
The Company is engaged in the manufacturing and trading of Advanced Engineering Thermoplastics and Polycarbonate Sheets. |
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No. of Employees
: |
Information declined by the Management. |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (44) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 8300000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is a subsidiary of “SAUDI BASE INDUSTRIES CORPORATION”. It is
establish company having satisfactory track record. The company has incurred loss from its operation during financial year
2014. However, rating take consideration company’s healthy networth base
backed by its strong financial and managerial support that company receives
from its holding company. Trade relations are reported as fair. Business is active. Payments are
usually correct. In view of decent networth base backed by it strong support from
holding company, the company can be considered normal for business dealings
at usual trade terms and conditions. |
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ECGC Country Risk Classification List – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
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
|
Rating Agency Name |
Not Available |
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Rating |
Not Available |
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Rating Explanation |
Not Available |
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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. Umang Singh |
|
Designation : |
Key Accounts Manager |
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Contact No.: |
91-9820605514 |
|
Date : |
13.05.2015 |
LOCATIONS
|
Registered Office : |
Plastics Avenue, P.O. Jawahar Nagar, Vadodara – 391 320, Gujarat,
India |
|
Tel. No.: |
91-265-3068551/ 552/ 3068520 |
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Contact No.: |
91-9820605514 (Mr. Umang Singh) |
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Fax No.: |
91-265-2232144 |
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E-Mail : |
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Website : |
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Factory : |
Located
at: ·
Vadodara |
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Branch Office : |
Located at: ·
Gurgaon ·
Mumbai ·
Bangalore ·
Pune ·
Chennai |
DIRECTORS
AS ON 29.09.2014
|
Name : |
Mr. Mahesh Kumar Sharma |
|
Designation : |
Director |
|
Address : |
C-103, Carlton Estate-1, DLF, Phase-V, Gurgaon – 122002, Haryana,
India |
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Date of Birth/Age : |
29.04.1978 |
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Date of Appointment : |
29.09.2008 |
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Date of Cessation: |
25.07.2014 |
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DIN No.: |
02317348 |
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|
|
Name : |
Mr. Janardhanan Ramanujalu |
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Designation : |
Director |
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Address : |
Plot 14, No.30, Fourth Layout, Teachers Colony, Chennai – 600099,
Tamilnadu, India |
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Date of Birth/Age : |
10.06.1963 |
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Qualification : |
Master’s
in Business Administration |
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Date of Appointment : |
29.08.2013 |
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DIN No.: |
05297560 |
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|
|
Name : |
Mr. Sanjiv Vasudeva |
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Designation : |
Director |
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Address : |
J-10, Ground Floor, Saket, New Delhi – 110017, India |
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Date of Birth/Age : |
27.02.1968 |
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Qualification : |
Bachelors
of Engineering |
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Date of Appointment : |
29.08.2013 |
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DIN No.: |
06570945 |
KEY EXECUTIVES
|
Name : |
Dhananjay Kumar Singh |
|
Designation : |
Secretary |
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Address : |
F-182b, 3rd Floor, Laxmi Nagar, Main Market, New Delhi - 110092, India |
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Date of Appointment : |
31.07.2014 |
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PAN No.: |
BBKPS3896J |
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|
|
|
Name : |
Mr. Umang Singh |
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Designation : |
Key Accounts Manager |
MAJOR SHAREHOLDERS
AS ON 29.08.2013
|
Names of Shareholders |
No. of Shares |
Percentage of Holding |
|
Sabic Innovative Plastics Holding Singapore Pte Limited, Singapore |
93479751 |
86.06 |
|
Sabic Innovative Plastics GP B.V., Netherlands |
15142794 |
13.94 |
|
Total |
108622545 |
100.00 |
AS ON 29.08.2013
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
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|
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Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
100.00 |
BUSINESS DETAILS
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Line of Business : |
The Company is engaged in the manufacturing and trading of Advanced Engineering Thermoplastics and Polycarbonate Sheets. |
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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 Available |
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Imports : |
Not Available |
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Terms : |
Not Available |
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PRODUCTION STATUS :NOT AVAILABLE
GENERAL INFORMATION
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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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Auditors : |
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Name : |
S.R.
Batliboi and Company LLP Chartered
Accountants |
|
Address : |
Golf View Corporate,
Tower - B, Sector-42, Sector Road, Gurgaon – 122 002, Haryana, India |
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PAN No.: |
ACHFS9180N |
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Holding Company: |
SABIC Innovative Plastics Holding Singapore Pte Limited |
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Ultimate Holding Company: |
Saudi Basic Industries Corporation |
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Group companies where common control exists
(Fellow Subsidiaries) and where transactions have taken place during the
year: |
· SABIC Innovative Plastics Malaysia Sdn.Bhd. · SABIC Innovative Plastics (China) Company Limited · SABIC Innovative Plastics Taiwan Holding Limited · SABIC Innovative Plastics Hong Kong Limited · SABIC Innovative Plastics Japan LLC · SABIC Innovative Plastics BV · SABIC Innovative Plastics International Trading (Shanghai Limited · SABIC Innovative Plastics Korea Limited · Saudi Basic Industries Corporation · SABIC Innovative Plastics (Shanghai) Company Limited · SABIC Innovative Plastics Management (Shanghai) Company Limited · SABIC Innovative Plastics South Americas · SABIC Innovative Plastics Mexico S DE RI DE CV · SABIC Innovative Plastics US LLC · SABIC Sales Europe · SABIC Innovative Plastics South America-Brazil · SABIC IP Australia Pty Limited · SABIC Research & Technology Private Limited · SABIC Innovative Plastics (SEA) Pte. Limited · SABIC India Private Limited · SABIC Innovative Plastics (Thailand) Company Limited |
CAPITAL STRUCTURE
AS ON 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
114,900,000 |
Equity Shares |
Rs.10/- each |
Rs.1149.000 Million |
|
100,000 |
Preference Shares |
Rs.10/- each |
Rs.1.000 million |
|
|
Total |
|
Rs.1150.000
Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
108,622,545 |
Equity Shares |
Rs.10/- each
|
Rs.1086.225
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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|
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|
(1) Shareholders' Funds |
|
|
|
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(a) Share Capital |
1086.225 |
1086.225 |
1086.225 |
|
(b) Reserves & Surplus |
1818.254 |
1947.297 |
1783.655 |
|
(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 |
|
Total
Shareholders’ Funds (1) + (2) |
2904.479 |
3033.522 |
2869.880 |
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(3)
Non-Current Liabilities |
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(a) Long-term borrowings |
0.000 |
0.000 |
0.119 |
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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 |
55.908 |
46.032 |
42.534 |
|
Total
Non-current Liabilities (3) |
55.908 |
46.032 |
42.653 |
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(4) Current Liabilities |
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(a)
Short term borrowings |
0.000 |
0.000 |
0.000 |
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(b)
Trade payables |
2711.376 |
2686.416 |
2155.424 |
|
(c)
Other current liabilities |
97.303 |
95.854 |
88.876 |
|
(d)
Short-term provisions |
140.971 |
105.862 |
81.447 |
|
Total
Current Liabilities (4) |
2949.650 |
2888.132 |
2325.747 |
|
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|
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TOTAL |
5910.037 |
5967.686 |
5238.280 |
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II.
ASSETS |
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|
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(1) Non-current assets |
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(a) Fixed Assets |
|
|
|
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(i)
Tangible assets |
734.993 |
786.205 |
760.378 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
6.989 |
|
(iii)
Capital work-in-progress |
34.625 |
14.263 |
25.601 |
|
(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) |
148.896 |
7.694 |
56.740 |
|
(d) Long-term Loan
and Advances |
71.170 |
147.329 |
118.364 |
|
(e)
Other Non-current assets |
0.710 |
0.463 |
0.474 |
|
Total
Non-Current Assets |
990.394 |
955.954 |
968.546 |
|
|
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|
|
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(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
1683.324 |
1767.912 |
1379.885 |
|
(c)
Trade receivables |
2495.538 |
2236.660 |
2222.022 |
|
(d)
Cash and cash equivalents |
223.215 |
303.473 |
159.519 |
|
(e)
Short-term loans and advances |
508.060 |
702.293 |
508.239 |
|
(f)
Other current assets |
9.506 |
1.394 |
0.069 |
|
Total
Current Assets |
4919.643 |
5011.732 |
4269.734 |
|
|
|
|
|
|
TOTAL |
5910.037 |
5967.686 |
5238.280 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
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SALES |
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Net Sales / Income |
|
|
10683.900 |
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Other Income |
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|
NA |
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TOTAL (A) |
12962.000 |
12505.000 |
NA |
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Less |
EXPENSES |
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Administrative Expenses |
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Advertising Expenses |
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TOTAL (B) |
13154.000 [Including
Financial and Depreciation expenses] |
12096.500 |
NA |
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|
|
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|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
|
408.500 |
365.600 |
|
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|
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Less |
INTEREST (D) |
|
3.200 |
2.000 |
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|
PROFIT/
(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
|
405.300 |
363.500 |
|
|
|
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|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
|
83.400 |
87.700 |
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|
PROFIT/ (LOSS)
BEFORE TAX (E-F) (G) |
(192.000) |
322.000 |
275.900 |
|
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|
Less |
TAX (H) |
(63.000) |
158.000 |
90.100 |
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|
PROFIT/ (LOSS)
AFTER TAX (G-H) (I) |
(129.000) |
164.000 |
185.800 |
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|
Add |
PREVIOUS YEARS’ BALANCE BROUGHT FORWARD |
1300.000 |
1136.000 |
950.200 |
|
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|
BALANCE CARRIED
FORWARD TO THE B/S |
1171.000 |
1300.000 |
1136.000 |
|
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|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
FOB Value of Exports |
169.000 |
70.000 |
76.500 |
|
|
TOTAL EARNINGS |
169.000 |
70.000 |
76.500 |
|
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|
|
|
|
|
Earnings/ (Loss)
Per Share (Rs.) |
(1.19) |
1.51 |
1.71 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin |
(%) |
NA |
NA |
1.74 |
|
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|
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|
|
Operating Profit Margin |
|
NA |
3.27 |
3.42 |
|
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|
Return on Total Assets (PBT/Total Assets} |
(%) |
(3.35) |
5.42 |
5.35 |
|
|
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|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.07) |
0.11 |
0.10 |
|
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|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.67 |
1.74 |
1.84 |
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 |
1086.225 |
1086.225 |
1086.225 |
|
Reserves & Surplus |
1783.655 |
1947.297 |
1818.254 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net worth |
2869.880 |
3033.522 |
2904.479 |
|
|
|
|
|
|
long-term borrowings |
0.119 |
0.000 |
0.000 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Total borrowings |
0.119 |
0.000 |
0.000 |
|
Debt/Equity ratio |
0.000 |
0.000 |
0.000 |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
|
31.03.2013 |
31.03.2014 |
|
|
|
(Rs. In Million) |
(Rs. In Million) |
|
Total Revenue |
|
12505.000 |
12962.000 |
|
|
|
3.655 |
NET PROFIT MARGIN
|
Net Profit Margin |
|
31.03.2013 |
31.03.2014 |
|
|
|
(Rs. In Million) |
(Rs. In Million) |
|
Total Revenue |
|
12505.000 |
12962.000 |
|
Profit/Loss |
|
164.000 |
(129.000) |
|
|
|
1.31% |
(1.00%) |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info
Agents |
Available in Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
No |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact person |
Yes |
|
11] |
Turnover of firm for last three years |
Yes |
|
12] |
Profitability for last three years |
Yes |
|
13] |
Reasons for variation <> 20% |
---------------------- |
|
14] |
Estimation for coming financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details (if applicable) |
No |
|
21] |
Market information |
---------------------- |
|
22] |
Litigations that the firm / promoter involved in |
Yes |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
No |
|
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 |
Notes:
·
The registered office of the company has been
shifted from Dharmsingh Park NH No.8, P.B. No.3, Nadiad, Kheda – 387 002,
Gujarat, India to present address w.e.f. 30.08.2007.
·
No Charges Exist for Company.
NATURE OF OPERATIONS
AND OWNERSHIP
The company is a private company domiciled in India and incorporated under the provisions of the Companies Act,1956. It is a subsidiary of SABIC Innovative Plastics Holding Singapore Pte Limited, Singapore. The Company is engaged in the manufacturing and trading of Advanced Engineering Thermoplastics and Polycarbonate Sheets.
FINANCIAL HIGHLIGHTS
The total revenue (net of excise) is Rs.12,962 million as against Rs.12,505 million in the previous year showing an increase of 3%. Net Loss before tax is Rs.192 million as against the net profit before tax of Rs. 322 million in the previous year. The net loss is on account of Foreign exchange fluctuations and provision made during the year on the accumulated balance of un-utilised Cenvat balance.
CORPORATE SOCIAL
RESPONSIBILITY (CSR):
The Ministry of Corporate Affairs (MCA) has vide its Notification dated February 27, 2014, assigned 1st April, 2014 as the date on which the provisions of Section 135, Schedule VII of the Companies Act, 2013 & The CSR Rules, 2014 will come into force. As the provisions of CSR are applicable to the Company, the Company has already formed CSR Committee and is also taking appropriate steps for formulation and implementation of its CSR program.
CONTINGENT LIABILITIES NOT PROVIDED FOR ARE
AS FOLLOWS:
|
PARTICULARS |
31.03.2014 (Rs.
in Million) |
31.03.2013 (Rs.
in Million) |
|
Income
tax Cases (Note 1) |
66.542 |
58.502 |
|
Claims
against the Company not acknowledged as debt |
24.318 |
20.500 |
|
VAT
assessment cases |
7.214 |
6.798 |
FIXED ASSETS:
Tangible Assets
·
Land
·
Buildings
·
Plant and Machinery
·
Furniture and Fixtures
·
Office Equipment
·
Computers
·
Vehicles
·
Leasehold Improvements
Intangible
Assets
·
Computer Software
·
Non-compete
fees, Brand license and technical knowhow
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.100.30 |
|
Euro |
1 |
Rs.72.38 |
INFORMATION DETAILS
|
Information
Gathered by : |
SPR |
|
|
|
|
Analysis Done by
: |
KSYP |
|
|
|
|
Report Prepared
by : |
SNT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
-- |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
----- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--LITIGATION |
YES/NO |
YES |
|
--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 |
|
44 |
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.