MIRA
INFORM REPORT
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Report No. : |
350125 |
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Report Date : |
17.11.2015 |
IDENTIFICATION DETAILS
|
Name : |
PHOENIX CONVEYOR BELT INDIA PRIVATE LIMITED (W. E. F. 26.08.2011) |
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Formerly Known
As : |
PHOENIX YULE PRIVATE LIMITED (W. E. F. 05.01.2010) PHOENIX YULE LIMITED |
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Registered
Office : |
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Tel. No.: |
91-33-25898266 |
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Country : |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
11.08.1998 |
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Com. Reg. No.: |
21-087713 |
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Capital
Investment / Paid-up Capital : |
Rs. 459.300 Million |
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CIN No.: [Company Identification
No.] |
U24134WB1998PTC087713 |
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IEC No.: |
Not Divulged |
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TAN No.: [Tax Deduction &
Collection Account No.] |
CALP03210E |
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PAN No.: [Permanent Account No.] |
AABCP5595P |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer of Conveyor Belts. |
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No. of Employees
: |
400 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
A (66) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavorable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
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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 a subsidiary of ‘Phoenix B.V’, Netherlands. It is the major manufacturer of steel cord conveyor belts and is one of the leading manufacturers in the competitive textile conveyor belts segment in India. For the financial year ended 2014, revenue of the company has been marginally declined by 4.29% whereas net profit reported of 34.74% during the year under a review. Rating takes into consideration company’s healthy financial profile support by its adequate net worth base along with zero debt balance sheet and healthy debt coverage indicators. Rating also takes into account of favorable demand outlook of the domestic conveyor belt industry and company’s dominant position in the sector and its diversified customer base. Rating strength is partially offset by high competition in the textile reinforced conveyor belt segment and exposure of the company’s profitability and cash flows to fluctuations in prices of its major raw material – rubber. Trade relations are reported as fair. Payments are reported to be regular and as per commitment. In view of aforesaid, the company can be considered good for normal 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) |
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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
|
Rating Agency Name |
ICRA |
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Rating |
Fund Based Limits =
AA- |
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Rating Explanation |
High degree of
safety and very low credit risk. |
|
Date |
September, 2014 |
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Rating Agency Name |
ICRA |
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Rating |
Non Fund Based Limits
= A1+ |
|
Rating Explanation |
Very strong degree
of safety and carry lowest credit risk. |
|
Date |
September, 2014 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2015.
INFORMATION PARTED BY
|
Name : |
Mr. Surajit Sarkar |
|
Designation : |
Chief Financial Officer |
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Contact No.: |
91-33-22806634 |
LOCATIONS
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Registered Office/ Factory: |
Murragachha Road, PO Gayeshpur, District Nadia, Kalyani -741234, West
Bengal, India |
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Tel. No.: |
91-33-25898266 |
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Fax No.: |
91-33-22831832 |
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E-Mail : |
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Website : |
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Corporate Office : |
Ideal Plaza, “North Block, 4th Floor, 11/1A, Sarat Bose
Road, Kolkata-700020, West Bengal, India |
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Tel. No.: |
91-33-22806634 / 6637 |
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Fax No.: |
91-33-22806638/ 22831832 |
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E-Mail : |
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Sales and Service
Points : |
LOCATED AT: · Mumbai · New Delhi · Chennai ·
Secunderabad |
DIRECTORS
AS ON: 26.03.2015
|
Name : |
Mr. Bernd Edgar Kuesel |
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Designation : |
Director |
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Address : |
Schafshagenberg, 31A, Hamburg-21077, Germany |
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Date of Birth/Age : |
09.10.1950 |
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Date of Appointment : |
01.02.1999 |
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Passport No.: |
1336129386 |
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DIN No.: |
01687468 |
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Name : |
Mr. Claus Peter Spille |
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Designation : |
Director Appointed in Casual Vacancy |
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Address : |
Wedemark, Mellendorf-030900, Germany |
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Date of Birth/Age : |
02.02.1968 |
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Date of Appointment : |
11.12.2007 |
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Passport No.: |
155225462 |
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DIN No.: |
02248277 |
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Name : |
Mr. Andreas Huck |
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Designation : |
Director Appointed in Casual Vacancy |
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Address : |
Meersmannufer, Hannover, 19, Germany |
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Date of Birth/Age : |
18.07.1969 |
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Date of Appointment : |
08.11.2008 |
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Passport No.: |
C2181W6MW |
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DIN No.: |
02502613 |
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Name : |
Ms. Smita Pandit Chakraborty |
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Designation : |
Managing Director |
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Address : |
44/7, Garcha Road, 1st
Floor, Kolkata – 700019, West Bengal, India |
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Date of Birth/Age : |
07.10.1971 |
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Date of Appointment : |
01.10.2013 |
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DIN No.: |
06701975 |
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Other
Directorship:
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KEY EXECUTIVES
|
Name : |
Mr. Surajit Sarkar |
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Designation : |
Chief Financial Officer |
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Address : |
57/12, Ballygunge Circular Road, Kolkata-700019, West Bengal, India |
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Date of Birth/Age : |
04.03.1966 |
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Date of Appointment : |
03.06.2013 |
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PAN No.: |
AIQPS7794H |
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Name : |
Ms. Vinita Nair |
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Designation : |
Company Secretary |
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Name : |
Mr. Kamal Sen Partha |
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Designation : |
Secretary |
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Address : |
Flat 8C/1, Brook Tower, Hiland Park, Kolkata-700094, West Bengal,
India |
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Date of Birth/Age : |
26.07.1958 |
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Date of Appointment : |
19.06.2008 |
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PAN No.: |
AIOPS2541J |
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Name : |
Arvind Bajpai |
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Designation : |
Company Secretary |
MAJOR SHAREHOLDERS
AS ON: 26.03.2015
|
Names of Shareholders |
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No. of Shares |
|
Conti Tech Holding Netherland B.V |
|
45934899 |
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Conti Tech Transpordbandsysteme GMBH |
|
1 |
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Total |
|
45934900 |
Equity Share Break up (Percentage of Total Equity)
AS ON: 26.03.2015
|
Category |
Percentage |
|
Bodies corporate |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Conveyor Belts. |
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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 : |
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Selling : |
Cash and Credit (30,60,90 Days) |
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Purchasing : |
Cash and Credit (30,60,90 Days) |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
End Users and OEMs
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No. of Employees : |
400 (Approximately) |
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Bankers : |
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Auditors : |
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Name : |
Vinod Kothari and Company Chartered Accountants |
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Address : |
1006-1009, Krishna Building, 224 A.J.C. Bose Road, Kolkata-700017,
West Bengal, India |
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Tel. No: |
91-33-22817715 / 1276 / 3742 |
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E-Mail: |
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Website: |
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PAN No.: |
AAMFV6726E |
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Name : |
B S R And Associates LLP Chartered Accountants |
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Address : |
Godrej Waterside, Unit No - 603&604, 6th Floor, Plot No-5block-Dp, Sector - V, Kolkata, West Bengal, India |
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PAN No.: |
AADFB6889R |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Holding Company : |
Phoenix B. V., Netherlands |
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Fellow Subsidiary
Company : |
· Contitech Transport Band Systeme GMBH, Germany · Phoenix Conveyor Belt Systems GMBH, Germany · Contitech Antriebssysteme GMBH, Germany |
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·
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Holding Company: |
· Phoenix B.V., Netherlands |
CAPITAL STRUCTURE
AS ON: 26.03.2015
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
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|
90000000 |
Equity Shares |
Rs.10/- each |
Rs. 900.000 Million |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
|
|
|
45934900 |
Equity Shares |
Rs.10/- each |
Rs. 459.349
Million |
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FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
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I.
EQUITY AND LIABILITIES |
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|
(1)Shareholders' Funds |
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(a) Share Capital |
459.300 |
459.300 |
459.300 |
|
(b) Reserves &
Surplus |
2661.000 |
2434.900 |
1962.700 |
|
(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) |
3120.300 |
2894.200 |
2422.000 |
|
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|
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(3) Non-Current
Liabilities |
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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 |
43.500 |
39.600 |
17.500 |
|
Total Non-current
Liabilities (3) |
43.500 |
39.600 |
17.500 |
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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 |
1213.400 |
762.400 |
728.200 |
|
(c) Other current
liabilities |
223.200 |
243.900 |
163.900 |
|
(d) Short-term provisions |
279.400 |
195.700 |
44.200 |
|
Total Current Liabilities
(4) |
1716.000 |
1202.000 |
936.300 |
|
|
|
|
|
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TOTAL |
4879.800 |
4135.800 |
3375.800 |
|
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|
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II.
ASSETS |
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|
(1) Non-current assets |
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(a) Fixed Assets |
|
|
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|
(i) Tangible assets |
1284.200 |
401.300 |
440.500 |
|
(ii) Intangible Assets |
4.200 |
0.700 |
0.100 |
|
(iii) Capital
work-in-progress |
48.400 |
863.600 |
120.700 |
|
(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) |
92.100 |
64.300 |
17.900 |
|
(d) Long-term Loan and Advances |
110.000 |
142.000 |
193.000 |
|
(e) Other Non-current
assets |
0.000 |
66.100 |
47.100 |
|
Total Non-Current Assets |
1538.900 |
1538.000 |
819.300 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
340.900 |
398.100 |
359.000 |
|
(c) Trade receivables |
1832.900 |
1272.600 |
891.900 |
|
(d) Cash and cash
equivalents |
1085.000 |
817.600 |
1228.700 |
|
(e) Short-term loans and
advances |
81.000 |
107.800 |
74.100 |
|
(f) Other current assets |
1.100 |
1.700 |
2.800 |
|
Total Current Assets |
3340.900 |
2597.800 |
2556.500 |
|
|
|
|
|
|
TOTAL |
4879.800 |
4135.800 |
3375.800 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
|
|
|
|
|
TOTAL INCOME |
4935.900 |
5154.500 |
4648.000 |
|
|
|
|
|
|
|
Less |
TOTAL EXPENSES |
4385.400 |
4369.500 |
3889.200 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION |
550.500 |
785.000 |
758.800 |
|
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|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
82.800 |
68.700 |
67.500 |
|
|
|
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|
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|
|
PROFIT/ (LOSS) BEFORE TAX |
467.700 |
716.300 |
691.300 |
|
|
|
|
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|
Less |
TAX |
158.900 |
244.100 |
223.200 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX |
308.800 |
472.200 |
468.100 |
|
|
|
|
|
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|
Add |
PREVIOUS YEARS’ BALANCE
BROUGHT FORWARD (K) |
2392.500 |
1920.300 |
1452.200 |
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
Transfer to General
Reserve |
23.200 |
0.000 |
0.000 |
|
|
Dividend |
68.900 |
0.000 |
0.000 |
|
|
Tax on Dividend |
13.800 |
0.000 |
0.000 |
|
|
Balance Carried to the
B/S |
2595.400 |
2392.500 |
1920.300 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per Share
(Rs.) |
6.72 |
10.28 |
10.19 |
|
Particulars |
|
|
31.03.2015 |
|
Sales Turnover |
|
|
5000.000 |
|
|
|
|
|
The above information has been parted by Mr. Surajit Sarkar (Chief
Financial Officer)
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current Maturities of Long term debt |
NA |
NA |
NA |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net Cash flow from (used in) Operations |
594.100 |
304.600 |
NA |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Total Income) |
(%) |
6.26 |
9.16 |
10.07 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
9.87 |
22.33 |
21.35 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.15 |
0.25 |
0.29 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.95 |
2.16 |
2.73 |
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 |
459.300 |
459.300 |
459.300 |
|
Reserves & Surplus |
1962.700 |
2434.900 |
2661.000 |
|
Net worth |
2422.000 |
2894.200 |
3120.300 |
|
|
|
|
|
|
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 |
4648.000 |
5154.500 |
4935.900 |
|
|
|
10.897 |
(4.241) |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Total Income |
4648.000 |
5154.500 |
4935.900 |
|
Profit |
468.100 |
472.200 |
308.800 |
|
|
10.07% |
9.16% |
6.26% |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
|
1 |
Year of establishment |
Yes |
|
2 |
Constitution of the entity -Incorporation
details |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
No |
|
5 |
Buyer visit details |
-- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
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 |
Yes |
|
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 |
-- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
Yes |
|
26 |
Turnover of firm for last three years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
Yes |
|
32 |
Litigations that the firm/promoter involved
in |
-- |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
Yes |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
OPERATION:
During the year ended on 31st December 2014, the Company has achieved a turnover of Rs.4935.900 Million as compared to Rs. 5154.500 Million in the previous year, a dip of 5% over the previous year. The recorded profit before tax of the Company during 2014 has become Rs. 467.700 Million as against Rs. 713.300 Million in 2013, and thus clocking a down trend of 35% over the previous year. Both the downsized turnover and profit are due to sluggish market scenarios, Domestic and Export, of the Company.
INDEX OF CHARGES:
|
S. NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
90245931 |
03/12/2003 * |
250,000,000.00 |
ICICI BANK LIMITED |
RASOI SIR R.N. MUKHERJEE ROAD, KOLKATA, WEST BENGAL - 700001, INDIA |
- |
*Date of modification Charges
FIXED ASSETS:
Tangible
· Land
· Buildings
· Plant and equipment
· Furniture and fixtures
· Vehicles
· Motor vehicles
Intangible
· Computer software
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts, India Prisons Service,
Interpol, etc.
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No exist to suggest that subject is or was
the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals have
been formally charged or convicted by a competent governmental authority for
any financial crime or under any formal investigation by a competent government
authority for any violation of anti-corruption laws or international anti-money
laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 66.17 |
|
UK Pound |
1 |
Rs. 100.65 |
|
Euro |
1 |
Rs. 70.97 |
INFORMATION DETAILS
|
Information
Gathered by : |
PRT |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
GEET |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
8 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
8 |
|
--PROFITABILITY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
8 |
|
--CREDIT LINES |
1~10 |
8 |
|
--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 |
|
66 |
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.