MIRA
INFORM REPORT
|
Report Date : |
08.08.2011 |
IDENTIFICATION DETAILS
|
Name : |
FAB |
|
|
|
|
Registered
Office : |
14-N Block Market, Greater Kailash, New Delhi-110048 |
|
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|
Country : |
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|
|
Financials (as
on) : |
31.03.2010 |
|
|
|
|
Date of
Incorporation : |
14.12.1976 |
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|
|
|
Com. Reg. No.: |
55-008436 |
|
|
|
|
Capital
Investment/ Paid-up Capital: |
Rs. 21.837
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74899DL1976PTC008436 |
|
|
|
|
Legal Form : |
Private Limited Liability Company. |
|
|
|
|
Line of Business
: |
Trading in Garments, other handmade items and Organic food products. |
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|
|
|
No. of
Employees: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
A (65) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Maximum Credit Limit : |
USD 5700000 |
|
|
|
|
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 company having fine track.
Financial position of the company appears to be sound. Trade relations are
reported as fair. Business is active. Payments are reported to be regular and
as per commitments. The company can be considered good for 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 – April 1, 2010
|
Country Name |
Previous Rating (31.12.2009) |
Current Rating (01.04.2010) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
LOCATIONS
|
Registered Office : |
14-N Block Market, Greater Kailash, New Delhi-110048, |
|
Tel. No.: |
91-11-26811047/ 29232183/ 84/ 85 |
|
Fax No.: |
91-11-26811053 |
|
E-Mail : |
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|
Website : |
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|
|
|
|
Head Office : |
B-53, Okhla Industrial Area, Phase-1, New Delhi-110020, |
|
Tel. No.: |
91-11-40692000 |
|
Fax No.: |
91-11-26811053 |
|
E-Mail : |
DIRECTORS
As on 24.07.2010
|
Name : |
Mr. William Nanda Bissell |
|
Designation : |
Managing Director |
|
Address : |
N-19, |
|
Date of Birth/Age : |
10.06.1966 |
|
Date of Appointment : |
08.08.2000 |
|
DIN No.: |
00012819 |
|
|
|
|
Name : |
Mr. Sunil Chainani |
|
Designation : |
Director |
|
Address : |
No. 106, 17th C, Main, 5th Block, Koramangala,
Bangalore-560095, |
|
Date of Birth/Age : |
30.12.1957 |
|
Date of Appointment : |
17.03.2003 |
|
DIN No.: |
00064052 |
|
|
|
|
Name : |
Mr. Charu Sharma |
|
Designation : |
Director |
|
Address : |
D-44, Anand Niketan, New Delhi-110021, |
|
Date of Birth/Age : |
12.02.1959 |
|
Date of Appointment : |
15.11.2006 |
|
DIN No.: |
01150944 |
|
|
|
|
Name : |
Mr. Vijai Kumar Kapoor |
|
Designation : |
Director |
|
Address : |
1-A, Tata Apartments, 23, Prithaviraj Road, New Delhi-110001, |
|
Date of Birth/Age : |
13.12.1938 |
|
Date of Appointment : |
31.01.2006 |
|
DIN No.: |
01084371 |
|
|
|
|
Name : |
Mr. Willam Sean Sovak |
|
Designation : |
Director |
|
Address : |
|
|
Date of Birth/Age : |
08.06.1972 |
|
Date of Appointment : |
09.02.2006 |
|
DIN No.: |
01161892 |
|
|
|
|
Name : |
Mr. Sanjiv Kapur |
|
Designation : |
Nominee Director |
|
Address : |
11, |
|
Date of Birth/Age : |
22.06.1958 |
|
Date of Appointment : |
12.04.2007 |
|
DIN No.: |
01356126 |
|
|
|
|
Name : |
Mr. Mansoon Latane Bissell |
|
Designation : |
Director |
|
Address : |
N-19, |
|
Date of Birth/Age : |
17.12.1969 |
|
Date of Appointment : |
27.06.2000 |
|
DIN No.: |
02705935 |
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|
|
|
Name : |
Mr. Madhukar Khera |
|
Designation : |
Director |
|
Address : |
646, |
|
Date of Birth/Age : |
18.12.1946 |
|
Date of Appointment : |
14.12.1976 |
|
DIN No.: |
01043399 |
KEY EXECUTIVES
|
Name : |
Mrs. Monika Uppal |
|
Designation : |
Secretary |
|
Address : |
11/141, Malviya Nagar, New Delhi-110017, |
|
Date of Birth/Age : |
22.01.1981 |
|
Date of Appointment : |
24.07.2010 |
|
PAN No.: |
AAQPU1770P |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 24.07.2010
|
Names of Shareholders |
|
No. of Shares |
|
Chowdhury Meena |
|
850 |
|
Bissell Nanda Bimla |
|
6298 |
|
Bissell Nanda William |
|
56954 |
|
Bissel Latane Monsoon |
|
4865 |
|
Puri Rama |
|
3200 |
|
Khera Madhukar |
|
18336 |
|
Talib Rasheed Al Fatim a |
|
500 |
|
JLB |
|
64548 |
|
Chowdhury Shaila |
|
600 |
|
Shaney Tara |
|
140 |
|
Madhok Sudarshan |
|
186 |
|
Minocha Vineet |
|
450 |
|
Banga Rai Jagdish |
|
485 |
|
Siddique Chamman |
|
100 |
|
Sharma Charu |
|
5375 |
|
Mehta N Saurabh |
|
1222 |
|
Indian Finance and Investments Services Private Limited, |
|
1286 |
|
Fabindia Employees Welfare |
|
4071 |
|
Sharma Shilpa |
|
718 |
|
Chainani Sunil and Chainani Kiran |
|
12126 |
Equity Share Breakup (Percentage of Total Equity)
As on 20.09.2010
|
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 |
36.01 |
|
Bodies corporate |
0.59 |
|
Directors or relatives of Directors |
50.49 |
|
Other top fifty shareholders |
8.65 |
|
Others |
4.26 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Trading in Garments, other handmade items and Organic food products. |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
|
|
|
|
Bankers : |
|
BANKING FACILITIES
(Rs.
in Millions)
|
Secured Loans |
31.03.2010 |
31.03.2009 |
31.03.2008 |
31.03.2007 |
|
Term Loan from Citibank N.A. (See Note 3a Below) |
|
|
|
|
|
- Rupee Loan (Amount due within one year Rs. 30.000 Millions, previous year Rs.
30.000 Millions) |
60.000 |
90.000 |
0.000 |
5.799 |
|
Term Loan from HDFC Bank Limited (Against hypothecation of vehicles) (Amount due within one year Rs. 0.056 Million , previous year Rs.
0.101 Million) |
0.054 |
0.156 |
0.272 |
0.400 |
|
Working Capital Demand Loan From |
|
|
|
|
|
- Citi Bank N.A. (also refer note 3b ) |
50.000 |
58.000 |
0.000 |
160.000 |
|
- Standard Chartered Bank (also refer 3c ) |
0.000 |
35.000 |
128.000 |
45.000 |
|
Cash Credit/ Overdraft From |
|
|
|
|
|
- Citi Bank N.A |
-- |
-- |
-- |
64.558 |
|
- Standard Chartered Bank |
-- |
-- |
-- |
76.610 |
|
Interest Accrued and due on secured loan |
-- |
-- |
-- |
0.101 |
|
Total |
1104.054 |
183.156 |
128.272 |
352.468 |
Note:
Term Loan
a) The Term Loan from Citi Bank, N.A. are secured against:
First exclusive charge vide equitable mortgage on property including
land and building located at:
1)
Shop No. 1,2, 3 and 4, Ground Floor, Noble House,
Plot No. 557, Junction of Chitrakar, Dhurandhar Marg and 18th Road,
Khar West, Mumbai.
2)
Shop No. 2 and 4, Ground Floor, Navroz Apartment,
66, Smt. Nargis Dutt (
b) The Working capital demand loan facilities from Citibank, N.A. are
secured against.
- First pari passu charge vide equitable mortgage on following
commercial properties located at:
1)
Plot No. 10, Sector/Block-B, Pocket-7, LSC, Vasant
Kunj-
2)
Plot No. 54, Block-II, Koramangala Extension,
- Second pari passu charge vide equitable mortgage on following commercial properties locate at:
1)
Shop No. 1, 2, 3 and 4, Ground Floor, Noble House,
Plot No. 557, Junction of Chitrakar, Dhurandhar Marg and 18th Road,
Khar West, Mumbai
2)
Shop No. 2 and 4, Ground Floor, Navroz Apartment,
66,
c) The working capital demand loan from
Standard Chartered Bank, was secured against:
-
First charge on pari passu basis on all future and
present inventories and book debts of the company.
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Mohinder Puri and Company Chartered Accountant |
|
Address : |
1-AD, Vandhana, 11 Tolstoy Marg, New Delhi-110001, |
|
|
|
|
Associates : |
-
FABINDIA S.r.l. -
Weavers -
East Limited, |
|
|
|
|
Wholly owned Subsidiaries : |
Artisans Micro Finance Private Limited U65921DL2007PTC158364 |
CAPITAL STRUCTURE
As on 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
250000 |
Equity Shares |
Rs. 100/- each |
Rs. 25.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
218370 |
Equity Shares |
Rs. 100/-
each |
Rs. 21.837
Millions |
* Out of the above 67650 Equity Shares of Rs.
100/- each allotted as fully paid up Bonus shares by capitalization of General
Reserve.
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
31.03.2007 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
|
1] Share Capital |
21.837 |
21.837 |
21.837 |
19.283 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
1402.182 |
1222.949 |
1051.038 |
437.981 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
1424.019 |
1244.786 |
1072.875 |
457.264 |
|
|
LOAN FUNDS |
|
|
|
|
|
|
1] Secured Loans |
110.054 |
183.156 |
128.272 |
352.468 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
110.054 |
183.156 |
128.272 |
352.468 |
|
|
DEFERRED TAX LIABILITIES |
8.513 |
9.567 |
10.994 |
9.392 |
|
|
|
|
|
|
|
|
|
TOTAL |
1542.586 |
1437.509 |
1212.141 |
819.124 |
|
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
567.107 |
504.591 |
460.182 |
392.605 |
|
|
Capital work-in-progress |
8.812 |
28.672 |
6.986 |
9.236 |
|
|
|
|
|
|
|
|
|
INVESTMENT |
152.704 |
161.105 |
31.745 |
6.645 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
|
Inventories |
710.128
|
739.326 |
591.022 |
483.161 |
|
|
Sundry Debtors |
22.884
|
19.893 |
25.084 |
32.855 |
|
|
Cash & Bank Balances |
137.473
|
61.066 |
81.475 |
43.025 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
0.000 |
|
|
Loans & Advances |
234.832
|
268.322 |
537.839 |
279.445 |
|
Total
Current Assets |
1105.317
|
1088.607 |
1235.420 |
838.486 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
|
Sundry Creditors |
77.436
|
145.486 |
90.334 |
150.348 |
|
|
Other Current Liabilities |
142.172
|
128.402 |
108.992 |
74.727 |
|
|
Provisions |
71.746
|
71.578 |
322.866 |
202.773 |
|
Total
Current Liabilities |
291.354
|
345.466 |
522.192 |
427.848 |
|
|
Net Current Assets |
813.963
|
743.141 |
713.228 |
410.638 |
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
TOTAL |
1542.586 |
1437.509 |
1212.141 |
819.124 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
31.03.2007 |
|
|
|
SALES |
|
|
|
|
|
|
|
|
Income |
3442.000 |
3043.000 |
2573.000 |
1884.510 |
|
|
|
Other Income |
35.981 |
42.591 |
NA |
NA |
|
|
|
TOTAL |
3477.981 |
3085.591 |
NA |
NA |
|
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
|
Advertising Expenses |
3149.816 |
2754.678 |
NA |
NA |
|
|
|
Depreciation |
|
|
|
|
|
|
|
Financial Charges |
|
|
|
|
|
|
|
TOTAL |
3149.816 |
2754.678 |
NA |
NA |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
328.165 |
330.913 |
305.040 |
188.076 |
|
|
|
|
|
|
|
|
|
|
Less |
TAX |
107.419 |
120.679 |
115.545 |
17.575 |
|
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
220.746 |
210.234 |
189.495 |
120.501 |
|
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
|
Transfer to General Reserve |
182.550 |
171.911 |
151.173 |
97.941 |
|
|
|
Corporate Dividend Tax |
5.440 |
5.567 |
5.567 |
3.277 |
|
|
|
Proposed Dividend |
32.756 |
32.756 |
32.755 |
19.283 |
|
|
BALANCE CARRIED
TO THE B/S |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
|
Export Earnings |
50.813 |
62.224 |
68.093 |
62.147 |
|
|
TOTAL EARNINGS |
50.813 |
62.224 |
68.093 |
|
|
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
|
Traded Goods |
17.162 |
-- |
-- |
-- |
|
|
|
Raw Material |
-- |
-- |
-- |
2.241 |
|
|
|
Capital Goods |
-- |
-- |
-- |
451.490 |
|
|
TOTAL IMPORTS |
17.162 |
-- |
-- |
453.731 |
|
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
1010.88 |
-- |
-- |
-- |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
31.03.2007 |
|
PAT / Total Income |
(%) |
6.35
|
6.81 |
NA |
NA |
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
9.53
|
10.87 |
11.86 |
9.98 |
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
19.62
|
20.77 |
17.99 |
15.28 |
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.23
|
0.02 |
0.28 |
0.41 |
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.28
|
0.42 |
0.61 |
1.71 |
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.36
|
3.15 |
2.37 |
1.96 |
LOCAL AGENCY FURTHER INFORMATION
OPERATIONAL
HIGHLIGHTS:
During the year ended 31st March 2010, the Profit after Tax increased
to Rs. 220.700 Millions from Rs. 210.200 Millions in the previous year, a
growth of 5%. As compared to the previous year, the Net Sales increased by
13.11% form Rs. 3043.000 Millions to Rs. 3442.000 Millions.
OPENING OF EAST
STORES IN
During the year ended 31st March 2010, Four East Stores were
opened in India, two in New Delhi, one in Mumbai and one in Bangalore. With the
opening of the store a new brand “EAST” was launched by the company in
NEW STORES
The Financial Year 2009-2010 marked a significant milestone for the
Company when it opened its 100th store and 25 new retail outlets, including 4
EAST stores, taking the number of stores to 116 at the time of writing this
report. The company now has a presence across 41 cities of the country.
SHIFTING OF HEAD
OFFICE
During the year ended 31st March 2010, the company has shifted its Head
office from B-26 Okhla Industrial Area Phase-I, New Delhi-110020 to B-53, Okhla
Industrial Area Phase-I, New Delhi-110020.
SUBSIDIARIES
The company has only one wholly owned subsidiary namely ARTISANS
MICROFINANCE PRIVATE LIMITED and therefore Statement pursuant to Section 212 of
the Companies Act, 1956 forms part of the Annual Report. The Consolidated
Financial Statements presented by the Company include the financial results of
its subsidiary company.
INVESTMENT IN EAST
EAST LIMITED, the Associate Company in
Bankers Charges
Report as per Registry
|
Corporate
identity number of the company |
U74899DL1976PTC008436 |
|
Name of the
company |
FAB |
|
Address of the registered
office or of the principal place of
business in |
14-N Block Market, Greater Kailash, New Delhi-110048, |
|
This form is for |
Modification of
charge |
|
Charge
identification number of the charge to be modified |
10271179 |
|
Type of charge |
Book Debts Movable Property Others |
|
Particular of
charge holder |
Kotak Mahindra Bank Limited, 15-16, |
|
Nature of
instrument creating charge |
Supplemental Deed
of Hypothecation dated 13.07.2011 |
|
Date of
instrument Creating the charge |
13.07.2011 |
|
Amount secured by
the charge |
Rs. 250.000
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest As per sanction
letter/ such other rate as may be prescribed by the bank from time to time. Terms of
Repayment As per sanction
terms of the facilities sanctioned. Margin The company shall
maintain such margin as may be
specified by the bank form time to time. Extent and
Operation of the charge As per Agreement |
|
Short particulars
of the property charged |
First pari passu
charge by way of hypothecation on existing and future current assets of the
borrower. |
|
Particulars of the
present modification |
The Credit
facilities have been enhanced from Rs. 100.000 Millions to Rs. 250.000
Millions and secured by First pari passu charge on existing and future
Current Assets of the borrower. |
Fixed Assets :
·
·
Building
·
Furniture, Fixtures and Office Equipments
·
Air Conditioners and Cooling Equipments
·
Vehicles
·
Commercial Vehicles
·
Moulds and Blocks
·
Computers
·
Computer Software
AS PER WEBSITE
PROFILE:
Fabindia is
Fabindia links over 40,000 craft based rural
producers to modern urban markets, thereby creating a base for skilled,
sustainable rural employment, and preserving
Fabindia promotes inclusive capitalism, through its
unique COC (community owned companies) model. The COC model consists of
companies, which act as value adding intermediaries, between rural producers
and Fabindia. These are owned, as the name suggests, by the communities they
operate from; a minimum 26% shareholding of these companies is that of craft
persons.
Fabindia's products are natural, craft based,
contemporary, and affordable.
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 records 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
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.44.80 |
|
|
1 |
Rs.72.86 |
|
Euro |
1 |
Rs.63.11 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
8 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
8 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
7 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
65 |
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.