MIRA
INFORM REPORT
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Report Date : |
25.06.2007 |
IDENTIFICATION DETAILS
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Name : |
KARAN ENTERPRISES |
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Registered Office : |
Moti Baug, Shed ‘M’, Plot No. 21, Opposite R K Studio, S J Road,
Chembur, Mumbai – 400 071, Maharashtra |
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Country : |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
1996 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
MUMK08218A |
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Legal Form : |
Sole Proprietory Concern |
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Line of Business : |
Importers and Traders of Embroidery Machinery. |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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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 6700 |
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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 well – established and reputed concern in its field. Financial position is satisfactory. Trade relations are fair. Payments are correct and as per commitments. The concern can be considered good for any normal business dealings at usual trade terms and conditions. |
LOCATIONS
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Registered Office : |
Moti Baug, Shed ‘M’, Plot No. 21, Opposite R. K. Studio, S. J. Road, Chembur, Mumbai – 400 071, Maharashtra, India. |
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Tel. No.: |
91-22-25203233 / 25207495 / 25202715 |
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Mobile No.: |
91-9323903233 |
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Fax No.: |
91-22-25202715 |
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E-Mail : |
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Website : |
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Area : |
15000 Sq. ft |
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Location : |
Owned |
SOLE PROPRIETOR
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Name : |
Mr. Nirmal Chhadwa
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Designation : |
Proprietor |
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Address : |
Flat No.: 1 & 2, Shripal, Chhaya Society, |
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Date of Birth/Age : |
25.12.1962 |
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Qualification : |
B. Com |
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Experience : |
26 Years |
KEY EXECUTIVES
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Name : |
Mr. Nilesh |
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Designation : |
Key Executive |
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Mobile No.: |
91-9820309594 |
BUSINESS DETAILS
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Line of Business : |
Importers and Traders of Embroidery Machinery. |
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Products : |
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Agencies Held : |
SWF – Embroidery Machines – Korean |
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Imports : |
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Products : |
v
Embroidery Machinery v
Software
v
Accessories |
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Countries : |
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Terms : |
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Selling : |
Cash |
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Purchasing : |
Cash, D/P terms against documents |
GENERAL INFORMATION
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Customers : |
v
Wholesalers, v
Retailers, v
Manufacturers v
End Users |
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No. of Employees : |
21 |
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Bankers : |
v
Bank of v
Kurla Nagrik Sahakari Bank Limited, Govandi,
Mumbai - 400 074, Maharashtra v
The Cosmos Cooperative Bank Limited, Plot No.
239, |
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Facilities : |
Kurla Nagrik Sahakari Bank Limited v
Cash Credit Limit – Rs. 7.500 millions v
Term Loan – Rs. 0.600 millions – Rs. 0.700 millions (Earlier – Rs.
20.000 millions) |
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Banking
Relations : |
Good |
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Auditors : |
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Name : |
Pravin Jayanti & Associates Chartered Accountant |
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Address : |
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Tel. No.: |
91-22-23702633 |
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Fax No.: |
91-22-23701697 |
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Associates/Subsidiaries : |
Sapan Creatives Waman Industrial Estate, W. T. Patil Marg, Chembur – Mumbai - 400071 Line of Business : Embroidery Job Work Staff – 200 Sales– About Rs.40.000 millions Leena Fashion Embroiders Private Limited, Plot No. 52, Khapoli Industrial Area, Khapoli Line of Business: Garment Manufacturing & Embroidery Jobworking Span Trading Company Opposite Bank of Occasion Opposite Elco Market, Line of Business: Exclusive Bridal & Party Wear Indian & Western Outfit Boutique Merry Vaibhav Industrial Area, Deonar Mumbai Line of Business: Girls Garments Manufacturing & Exporter |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs. 1.682 Millions |
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Borrowed : |
- |
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Total : |
Rs. 1.682 Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
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31.03.2005 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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1.682 |
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2] Share Application Money |
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0.000 |
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3] Reserves & Surplus |
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0.000 |
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4] (Accumulated Losses) |
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0.000 |
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NETWORTH |
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1.682 |
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LOAN FUNDS |
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1] Secured Loans |
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7.198 |
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2] Unsecured Loans |
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20.287 |
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TOTAL BORROWING |
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27.485 |
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DEFERRED TAX LIABILITIES |
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0.000 |
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TOTAL |
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29.167 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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22.860 |
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Capital work-in-progress |
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0.000 |
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INVESTMENT |
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0.000 |
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DEFERREX TAX ASSETS |
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0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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2.021 |
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Sundry Debtors |
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4.470 |
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Cash & Bank Balances |
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0.180 |
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Other Current Assets |
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0.534 |
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Loans & Advances |
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18.524 |
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Total
Current Assets |
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25.729 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
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19.422 |
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Provisions |
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0.000 |
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Total
Current Liabilities |
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19.422 |
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Net Current Assets |
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6.307 |
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MISCELLANEOUS EXPENSES |
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0.000 |
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TOTAL |
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29.167 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
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Sales Turnover [including other income] |
17.500 |
15.000 |
11.177 |
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Profit/(Loss) Before Tax |
NA |
NA |
0.612 |
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Provision for Taxation |
NA |
NA |
0.000 |
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Profit/(Loss) After Tax |
NA |
NA |
0.612 |
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Total Expenditure |
NA |
NA |
10.565 |
Expected Sales (2007-08) : Rs. 20.000 millions
KEY RATIOS
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PARTICULARS |
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31.03.2005 |
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PAT / Total Income |
(%) |
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5.47 |
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Net Profit Margin (PBT/Sales) |
(%) |
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5.47 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
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1.25 |
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Return on Investment (ROI) (PBT/Networth) |
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0.36 |
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Debt Equity Ratio (Total Liability/Networth) |
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27.88 |
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Current Ratio (Current Asset/Current Liability) |
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1.32 |
LOCAL AGENCY FURTHER INFORMATION
The concern is in trade terms with:
Ř
Brothers,
Ř Madura Coats, Mumbai
Ř Alla Mode, Mumbai
Ř Jiny & Johny, Mumbai
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Bits and Volts,
Ř
Easy
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S W F,
Ř Benzer, Mumbai
Ř Kala Niketan, Mumbai
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Manufacturers in Banaras and
Website details attached
They are happy to any that they have brought
theirself up with many of their new offices and sister concerns and proving
that "The Sky is the Limit” and brought subject in the sky like a
sparkling star in the world of SWF Machines.
- And walking through in the brightness to make subject Adventures and
Historic.
- This is the history of their Company Karan Enterprises their Patron
They came into the Trade of SWF Agency in the year
2000.
- Where they are covering up the western area and are into the agency of
SWF & sold several machines of SWF to many of their customers and kept
theirselves present in the middle of SWF.
- This way they started the steps in to the prospects and property of
their business in the embroidery and in the business of Embroidery machines and
kept theirself present & attached to the family of SWF i. e. the SunStar
Precision Co.,
- And there are more to any and do along with SWF.
- And they are feeling happy to say that they have crossed the century in
supply of machines
Product
Chenille Embroidery Machine
High Density (800X600) color graphic monitor which
eye-friendly display.
Plentiful memory space which can store embroidery
for 2,000,000 stitches.
Super High Speed Flat Multi
Embroidery Machine
High speed, High production flat bed machines.
Mase for bulk embroidery.
The range of SWF flat bed machines give you bulk
production at affordable prices
Flat Type High-Speed
Multi-Head Embroidery Machine
Hyper-minuteness control realization.
Low noise, low oscillation of design technique
Flat Type Multi-Head
Embroidery Machine
Confidence and Ideal Price to easy operability.
Refined design an high-tech embroidery
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 records 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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs. 40.71 |
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1 |
Rs. 81.24 |
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Euro |
1 |
Rs. 54.63 |
SCORE & RATING EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
6 |
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PAID-UP CAPITAL |
1~10 |
6 |
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OPERATING SCALE |
1~10 |
6 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
6 |
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--PROFITABILIRY |
1~10 |
6 |
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--LIQUIDITY |
1~10 |
6 |
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--LEVERAGE |
1~10 |
6 |
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--RESERVES |
1~10 |
6 |
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--CREDIT LINES |
1~10 |
6 |
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--MARGINS |
-5~5 |
- |
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DEMERIT POINTS |
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--BANK CHARGES |
YES/NO |
YES |
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--LITIGATION |
YES/NO |
NO |
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--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
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MERIT POINTS |
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--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
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--EXPORT ACTIVITIES |
YES/NO |
NO |
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--AFFILIATION |
YES/NO |
YES |
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--LISTED |
YES/NO |
NO |
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--OTHER MERIT FACTORS |
YES/NO |
YES |
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TOTAL |
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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
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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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 |
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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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average/normal. |
Small |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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