MIRA INFORM REPORT
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Report No. : |
342091 |
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Report Date : |
29.09.2015 |
IDENTIFICATION DETAILS
|
Name : |
ARYSTA LIFESCIENCE INDIA LIMITED |
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Formerly Known
As : |
DEVIDAYAL SALES LIMITED |
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Registered
Office : |
123-124, 12th Floor, Mittal Chambers, Nariman Point, Mumbai – 400021,
Maharashtra |
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Tel. No.: |
91-22-61843333 |
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Country : |
India |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
07.11.1949 |
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Com. Reg. No.: |
11-007856 |
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Capital
Investment / Paid-up Capital : |
Rs. 28.771 Million |
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CIN No.: [Company Identification
No.] |
U51420MH1949PLC007856 |
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IEC No.: |
0388005947 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
AAACD0557C |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Manufacturer of Products related to Agrochemicals, Veterinary
Chemicals and Pesticides. |
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No. of Employees
: |
500 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (47) |
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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 2400000 |
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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 “Arysta Lifescience (Mauritius) Limited”.
It is an established company incorporated in the year 1949 having
satisfactory track record. Subject is engaged in the business as manufacturer of products related
to agrochemicals, veterinary chemicals and pesticides. Profit margin of the company is low. However, net worth position of
the company is sound. Overall financial position of the company is healthy. The company also receives strong operational and managerial support
from its holding company. Further, the rating also takes into consideration rich experience of
its promoters, long track record and good operating efficiency of the
company. Trade relations are reported as fair. Business is active. Payments
terms are reported as usually correct and as per commitments. 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 |
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Risk Category |
ECGC Classification |
|
Insignificant |
A1 |
|
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
31-03-2015.
INFORMATION PARTED BY
|
Name : |
Mr. Rajeev Gupta |
|
Designation : |
Account Manager |
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Contact No.: |
91-22-61843333 |
|
Date : |
23.09.2015 |
LOCATIONS
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Registered Office : |
123-124, 12th Floor, Mittal Chambers, Nariman Point, Mumbai – 400021,
Maharashtra, India |
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Tel. No.: |
91-22-61843333 |
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E-Mail : |
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Website : |
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Area : |
4000 Sq. Ft. (Approximately) |
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Location : |
Owned |
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Locality : |
Commercial |
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Head Office : |
50/A, GIDC Industrial Estate, Kalol – 389330, Gujarat, India |
DIRECTORS
AS ON 30.09.2014
|
Name : |
Ganeshkumar Subramanian |
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Designation : |
Managing Director |
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Address : |
HIB-144 , Westend Heights, DLF City, Phase V, Gurgaon - 122009, Haryana, India |
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Date of Birth/Age : |
25.10.1968 |
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Date of Appointment : |
30.09.2013 |
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DIN No.: |
00088163 |
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Other Directorship :
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Name : |
Pradip Kumar Mazumdar |
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Designation : |
Director |
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Address : |
2, Mohan Bagan Lane, Kolkata - 700004, West Bengal, India |
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Date of Appointment : |
30.09.2014 |
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DIN No.: |
00215260 |
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Other Directorship :
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Name : |
John Phillip Barnes |
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Designation : |
Director |
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Address : |
55, Morcellement Ramdanee, Black River - 00000, Mauritius |
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Date of Appointment : |
12.08.2015 |
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DIN No.: |
07165035 |
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Name : |
Sujata Chattopadhyay |
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Designation : |
Director |
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Address : |
D-103, Jal Vayu Vihar, Powai, Mumbai - 400076, Maharashtra, India |
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Date of Appointment : |
12.08.2015 |
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DIN No.: |
02336683 |
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Other Directorship :
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MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2014
|
Names of Shareholders |
|
No. of Shares |
|
Arysta LifeScience (Mauritius) Limited |
|
2,877,094 |
|
Arysta LifeScience (Philippines) Inc. |
|
1 |
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Arysta LifeScience AgriMart Corporation |
|
1 |
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Arysta LifeScience (Thailand) Company |
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1 |
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Grupo Bioquimico Mexicano SA de CV |
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1 |
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Arysta LifeScience Canada Inc. |
|
1 |
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Arysta Lifescience Canada BC, Inc. |
|
1 |
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Total |
|
2,877,100 |
Equity Share Break up (Percentage of Total Equity)
As on 30.09.2014
|
Category |
Percentage |
|
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 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Products related to Agrochemicals, Veterinary
Chemicals and Pesticides. |
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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 : |
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Products : |
Finished Goods |
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Countries : |
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Imports : |
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Products : |
Raw Material |
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Countries : |
France |
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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 OEM’s
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No. of Employees : |
500 (Approximately) |
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Bankers : |
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Facilities : |
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Auditors : |
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Name : |
S. V. Ghatalia and Associates LLP Chartered Accountants |
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Address : |
2nd Floor, Shivalik Ishaan, Near CN Vidhyalaya, Ambavadi, Ahmedabad – 380006, Gujarat, India |
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PAN No.: |
ACHFS9181P |
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Collaborators : |
Not Divulged |
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Membership : |
Not Divulged |
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Holding Company : |
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Fellow
Subsidiary Company : |
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Ultimate Holding
Company: |
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CAPITAL STRUCTURE
AS ON 30.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5,000,000 |
Equity Shares |
Rs. 10/- each |
Rs. 50.000 Million |
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|
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2,877,100 |
Equity Shares |
Rs. 10/- each |
Rs. 28.771 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 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
28.771 |
33.000 |
33.000 |
|
(b) Reserves & Surplus |
823.773 |
1060.268 |
1051.344 |
|
(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) |
852.544 |
1093.268 |
1084.344 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
2.843 |
6.928 |
1.745 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
2.067 |
5.960 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
20.719 |
15.389 |
3.987 |
|
Total Non-current
Liabilities (3) |
23.562 |
24.384 |
11.692 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade
payables |
496.835 |
385.497 |
265.425 |
|
(c) Other
current liabilities |
463.658 |
125.095 |
98.838 |
|
(d) Short-term
provisions |
6.949 |
5.002 |
6.815 |
|
Total Current
Liabilities (4) |
967.442 |
515.594 |
371.078 |
|
|
|
|
|
|
TOTAL |
1843.548 |
1633.246 |
1467.114 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
115.197 |
110.887 |
98.431 |
|
(ii)
Intangible Assets |
8.619 |
9.417 |
0.000 |
|
(iii)
Capital work-in-progress |
3.205 |
0.000 |
2.724 |
|
(iv)
Intangible assets under development |
2.535 |
0.000 |
4.860 |
|
(b) Non-current Investments |
0.552 |
0.499 |
0.471 |
|
(c) Deferred tax assets (net) |
24.213 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
66.825 |
82.459 |
47.708 |
|
(e) Other
Non-current assets |
12.441 |
19.633 |
14.600 |
|
Total Non-Current
Assets |
233.587 |
222.895 |
168.794 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
102.615 |
76.981 |
|
(b)
Inventories |
578.602 |
425.200 |
500.689 |
|
(c) Trade
receivables |
675.394 |
506.336 |
466.076 |
|
(d) Cash
and cash equivalents |
282.014 |
339.405 |
231.715 |
|
(e)
Short-term loans and advances |
70.026 |
34.760 |
22.024 |
|
(f) Other
current assets |
3.925 |
2.035 |
0.835 |
|
Total Current
Assets |
1609.961 |
1410.351 |
1298.320 |
|
|
|
|
|
|
TOTAL |
1843.548 |
1633.246 |
1467.114 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
2305.238 |
1965.722 |
1953.085 |
|
|
|
Other Income |
41.692 |
38.241 |
57.625 |
|
|
|
TOTAL SALES |
2346.930 |
2003.963 |
2010.710 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
Cost of Materials Consumed |
1572.021 |
1246.803 |
1146.587 |
|
|
|
Purchase of Stock-in-trade |
63.377 |
92.911 |
106.021 |
|
|
|
Changes in Inventories of finished goods, work-in-progress and
stock-in-trade |
(84.235) |
33.404 |
(15.809) |
|
|
|
Employee Benefits Expenses |
173.667 |
146.683 |
109.083 |
|
|
|
Other Expenses |
569.456 |
447.447 |
432.610 |
|
|
|
Exceptional Items |
0.000 |
0.000 |
5.977 |
|
|
|
TOTAL EXPENSES |
2294.286 |
1967.248 |
1784.469 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
52.644 |
36.715 |
226.241 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
3.052 |
3.495 |
1.061 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION |
49.592 |
33.220 |
225.180 |
|
|
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
23.684 |
22.661 |
13.630 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX |
25.908 |
10.559 |
211.550 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
6.319 |
1.636 |
62.755 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
AFTER TAX |
19.589 |
8.923 |
148.795 |
|
|
|
|
|
|
|
|
|
|
TOTAL EARNINGS |
332.779 |
355.292 |
350.312 |
|
|
|
|
|
|
|
|
|
|
TOTAL IMPORTS |
22.114 |
NA |
NA |
|
|
|
|
|
|
|
|
|
|
EARNINGS PER
SHARE (RS.) |
6.65 |
2.70 |
45.09 |
|
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current Maturities of Long term debt |
3.955 |
3.658 |
3.658 |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net cash flows from (used in) operations |
(169.400) |
184.730 |
182.189 |
|
Net cash flows from (used in) operating activities |
(183.168) |
142.470 |
139.929 |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin PAT / Sales |
(%) |
0.85 |
0.45 |
7.62 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/Sales) |
(%) |
2.28 |
1.87 |
11.58 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets) |
(%) |
1.43 |
0.65 |
14.50 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.03 |
0.01 |
0.20 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.01 |
0.01 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.66 |
2.74 |
3.50 |
|
Particulars |
|
|
31.03.2015 |
|
Sales Turnover (Approximately) |
|
|
2500.000 |
The above information has been parted by Mr. Rajeev Gupta (Account
Manager).
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 |
33.000 |
33.000 |
28.771 |
|
Reserves & Surplus |
1051.344 |
1060.268 |
823.773 |
|
Net
worth |
1084.344 |
1093.268 |
852.544 |
|
|
|
|
|
|
long-term borrowings |
1.745 |
6.928 |
2.843 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
CURRENT MATURITIES OF LONG-TERM DEBTS |
3.658 |
3.658 |
3.955 |
|
Total
borrowings |
5.403 |
10.586 |
6.798 |
|
Debt/Equity ratio |
0.005 |
0.010 |
0.008 |
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 |
|
Sales |
1953.085 |
1965.722 |
2305.238 |
|
|
-- |
0.647 |
17.272 |
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
|
1953.085 |
1965.722 |
2305.238 |
|
Profit |
148.795 |
8.923 |
19.589 |
|
|
7.62% |
0.45% |
0.85% |
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 |
-- |
|
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) |
Yes |
|
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 |
No |
|
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 |
Yes |
|
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 |
-- |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
Yes |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
Note: Registered office of the company has been shifted from Gupta Mills Estate Darukhana Reay Road, Mumbai - 400010, Maharashtra, India to the present address w.e.f. 13.02.2012.
OPERATIONS:
Despite the challenging economic scenario, the sales of the Company during the year under report registered good growth over the previous year. Sales, net of excise at Rs. 2305.240 million, represent an increase of 17.2%, over the previous year. Profit before tax for the year ended 31st March, 2014 stood at Rs. 25.910 million as compared to Rs. 10.560 million for the previous year which represents an increase of 145.3%. Profit after tax at Rs. 19.580 million during the year ended 31st March, 2014 was higher by 120% compared to the previous year. Arysta Proprietary product Orthene introduced last year by the Company has resulted a tremendous growth of 88% over the last year sales revenue. Orthene contributes 16% of the topline of the company in FY 2013-14. The company has introduced two new products which are part of Arysta LifeScience proprietary products i. e Pilatus and Vitalus in the Indian market in the current financial year. Company will be introducing more Arysta LifeScience proprietary products in the coming years.
CONTINGENT LIABILITIES:
A
contingent liability is a possible obligation that arises from past events
whose existence will be confirmed by the occurrence or non-occurrence of one or
more uncertain future events beyond the control of the company or a present
obligation that is not recognized because it is not probable that an outflow of
resources will be required to settle the obligation. A contingent liability
also arises in extremely rare cases where there is a liability that cannot be
recognized because it cannot be measured reliably. The company does not
recognize a contingent liability but discloses its existence in the financial statements.
INDEX OF CHARGE: NO
CHARGES EXIST FOR COMPANY
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. 66.08 |
|
|
1 |
Rs. 100.32 |
|
Euro |
1 |
Rs. 73.81 |
INFORMATION DETAILS
|
Information
Gathered by : |
PPT |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
SYL |
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 |
|
--PROFITABILITY |
1~10 |
4 |
|
--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 |
NO |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER
|
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
|
|
|
|
TOTAL |
|
47 |
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.