MIRA
INFORM REPORT
|
Report Date : |
27.07.2011 |
IDENTIFICATION DETAILS
|
Name : |
METAPHOR EXPORTS PRIVATE LIMITED |
|
|
|
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Registered
Office : |
C-178, Naraina Industrial Area, Phase- I, Delhi – 110028 |
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Country : |
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|
Financials (as
on) : |
31.03.2011 (Provisional) |
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|
|
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Date of
Incorporation : |
13.03.2001 |
|
|
|
|
Com. Reg. No.: |
55-109997 |
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|
|
|
Capital
Investment / Paid-up Capital : |
Rs.24.340
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U93000DL2001PTC109997 |
|
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|
|
IEC No.: |
0503011258 |
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|
PAN No.: [Permanent Account No.] |
AACCM7412M |
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Legal Form : |
Private Limited Liability Company. |
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Line of Business
: |
Manufacturers and Traders of Garments. |
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No. of Employees
: |
494 (Approximately) (Office – 60 and Factory – 434) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
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|
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having satisfactory track. Trade
relations are reported as fair. Business is active. The valuation report and networth
statement provided seems to be satisfactory. Payments are reported to be
usually correct. However, it would be advisable to take adequate securities while
dealing with the subject. |
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 |
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|
|
Risk Category |
ECGC Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INFORMATION PARTED BY
|
Name : |
Mr. Sameer Khanna |
|
Designation : |
Executive Director |
|
Contact No.: |
91-9810077944 |
|
Date : |
22.07.2011 |
LOCATIONS
|
Registered Office : |
C-178, Naraina Industrial Area, Phase- I, Delhi – 110028,
India |
|
Tel. No.: |
91-11-45052399/ |
|
Mobile No.: |
91-9810077944 (Mr. Sameer Khanna) |
|
E-Mail : |
|
|
Website : |
http://www.metaphorexports.com
(site under construction) |
|
|
|
|
Factory : |
151 Sector – 4, IMT Manesar, Gurgaon – 122001, Haryana, India |
|
Tel. No.: |
91-124-4562432 |
|
Fax No.: |
91-124-4562438 |
|
Area : |
50000 sq. ft. |
|
Location : |
Owned |
DIRECTORS
(AS ON 29.09.2009)
|
Name : |
Mr. Pran Nath Khanna |
|
Designation : |
Director |
|
Address : |
D-45, Naraina Vihar, Delhi – 110028, India |
|
Date of Birth/Age : |
10.09.1944 |
|
Qualification : |
Post Graduate |
|
Experience : |
20 years |
|
Date of Appointment : |
29.01.2003 |
|
|
|
|
Name : |
Mr. Sameer Khanna |
|
Designation : |
Executive Director |
|
Address : |
H. No. D-45, Naraina Vihar, Delhi – 110028, India |
|
Date of Birth/Age : |
15.09.1974 |
|
Qualification : |
MBA |
|
Experience : |
9 years |
|
Date of Appointment : |
13.03.2001 |
|
|
|
|
Name : |
Mr. Anuj Khanna |
|
Designation : |
Director |
|
Address : |
D-45, Naraina Vihar, Delhi – 110028, India |
|
Date of Birth/Age : |
17.05.1947 |
|
Qualification : |
Graduate |
|
Experience : |
20 years |
|
Date of Appointment : |
13.03.2001 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
(AS ON 31.03.2011)
|
Names of Shareholders |
|
No. of Shares |
|
|
|
|
|
Pran Nath Khanna |
|
692600 |
|
Anuj Khanna |
|
293415 |
|
Sameer Khanna |
|
542690 |
|
Sanjay Khanna |
|
510200 |
|
Sandeep Khanna |
|
140200 |
|
Rohit Khanna |
|
130000 |
|
Shalini Khanna |
|
120000 |
|
Others |
|
4850 |
|
|
|
|
|
Total |
|
2433955 |
(AS ON 30.09.2009)
|
Category |
|
Percentage |
|
|
|
|
|
Directors or relatives of directors |
|
100.00 |
|
|
|
|
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturers and Traders of Garments. |
|
|
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Exports : |
|
|
Products : |
Hosiery Garment |
|
Countries : |
· USA · Europe · Hong Kong · Singapore · Malaysia |
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Imports : |
|
|
Products : |
Trims and Fabrics |
|
Countries : |
· Hong Kong · China |
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Terms : |
|
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Selling : |
Credit (30-60-90 days) |
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|
|
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Purchasing : |
L/C, Credit (30 days) |
PRODUCTION STATUS (AS ON 31.03.2011)
|
Particulars |
Unit |
Installed Capacity |
Actual Production |
|
|
|
|
|
|
Hong Kong |
PCS |
400000 PCS Per
Month |
250000 PCS Per
Month |
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|
|
|
GENERAL INFORMATION
|
Customers : |
Wholesalers and Retailers |
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No. of Employees : |
494 (Approximately) (Office – 60 and Factory – 434) |
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Bankers : |
· Corporation Bank Corporate Banking Branch, 10th Floor, H. T. House, 18/20, K G Marg, Connaught Place, New Delhi – 110001, India · Punjab National Bank G-242-243, Naraina Vihar, New Delhi – 110028, India |
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-Facilities : |
Credit Limit: Fund Based Rs.200.000 Millions Non Fund Based Rs.50.000
Millions Term Loan Rs.19.800 Millions.
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Banking
Relations : |
-- |
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|
|
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Auditors : |
|
|
Name : |
G. S. Pandey and Associates Chartered Accountant |
|
Address : |
E-36, Jawahar Park, Laxmi Nagar, Delhi – 110092, India |
|
|
|
|
Associates/Subsidiaries : |
· Adigear International A-40, Phase – 1, Mayapuri Industrial Area, New Delhi, India Manufacturer / Exporters |
CAPITAL STRUCTURE
(AS ON 31.03.2011 –
PROVISIONAL)
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5250000 |
Equity Share |
Rs.10/- each |
Rs.52.500 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2433955 |
Equity Share |
Rs.10/- each |
Rs.24.340
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2011 (Provisional) |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
|
1] Share Capital |
24.340 |
24.340 |
22.121 |
22.121 |
|
|
2] Share Application Money |
23.000 |
10.500 |
9.500 |
1.500 |
|
|
3] Reserves & Surplus |
22.281 |
17.084 |
6.156 |
4.257 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
69.621 |
51.924 |
37.777 |
27.878 |
|
|
LOAN FUNDS |
|
|
|
|
|
|
1] Secured Loans |
287.756 |
192.031 |
103.340 |
94.203 |
|
|
2] Unsecured Loans |
80.000 |
51.758 |
27.997 |
17.103 |
|
|
TOTAL BORROWING |
367.756 |
243.789 |
131.337 |
111.306 |
|
|
DEFERRED TAX LIABILITIES |
0.170 |
0.171 |
0.186 |
0.000 |
|
|
|
|
|
|
|
|
|
TOTAL |
437.547 |
295.884 |
169.300 |
139.184 |
|
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
69.635 |
76.755 |
66.600 |
70.996 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
|
Inventories |
286.679
|
169.959
|
67.979 |
41.287 |
|
|
Sundry Debtors |
143.361
|
101.723
|
58.661 |
36.983 |
|
|
Cash & Bank Balances |
6.831
|
7.103
|
3.618 |
1.741 |
|
|
Other Current Assets |
0.000
|
0.000
|
5.484 |
2.078 |
|
|
Loans & Advances |
10.783
|
9.955
|
4.290 |
4.933 |
|
Total
Current Assets |
447.654
|
288.740 |
140.032 |
87.022 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
|
Sundry Creditor |
68.342
|
60.795
|
34.421 |
15.335 |
|
|
Other Current Liabilities |
9.300
|
7.216
|
1.664 |
2.565 |
|
|
Provisions |
2.100
|
1.600
|
1.250 |
0.941 |
|
Total
Current Liabilities |
79.742
|
69.611 |
37.335 |
18.841 |
|
|
Net Current Assets |
367.912
|
219.129 |
102.697 |
68.181 |
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.003 |
0.007 |
|
|
|
|
|
|
|
|
|
TOTAL |
437.547 |
295.884 |
169.300 |
139.184 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 (Provisional) |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
|
Income |
651.754 |
445.087 |
245.235 |
181.941 |
|
|
|
Other Income |
13.393 |
21.026 |
5.804 |
3.323 |
|
|
|
TOTAL (A) |
665.147 |
466.113 |
251.039 |
185.264 |
|
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
|
Accretion in Stocks |
(116.720) |
(101.980) |
(26.692) |
|
|
|
|
Materials |
555.340 |
402.612 |
198.063 |
|
|
|
|
Manufacturing Expenses |
91.375 |
50.178 |
16.561 |
|
|
|
|
Personnel expenses |
44.411 |
39.844 |
22.529 |
|
|
|
|
Administrative Expenses |
21.672 |
20.361 |
7.837 |
166.184 |
|
|
|
Selling and Distribution Expenses |
9.253 |
15.577 |
8.256 |
|
|
|
|
Preliminary expenses Written off |
0.000 |
0.004 |
0.004 |
|
|
|
|
TOTAL (B) |
605.331 |
426.596 |
226.558 |
166.184 |
|
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
59.816 |
39.517 |
24.481 |
19.080 |
|
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
42.931 |
24.147 |
12.941 |
9.719 |
|
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D)
(E) |
16.885 |
15.370 |
11.540 |
9.361 |
|
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
9.588 |
10.139 |
8.205 |
6.281 |
|
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
7.297 |
5.231 |
3.335 |
3.080 |
|
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
2.100 |
1.585 |
1.436 |
0.941 |
|
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
5.197 |
3.646 |
1.899 |
2.139 |
|
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
9.802 |
6.156 |
4.257 |
2.118 |
|
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
14.999 |
9.802 |
6.156 |
4.257 |
|
|
|
|
|
|
|
|
|
|
|
EXPORT VALUE |
NA |
162.054 |
104.245 |
35.857 |
|
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
2.14 |
1.50 |
-- |
-- |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 (Provisional) |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
0.78
|
0.78 |
0.76 |
1.15 |
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
1.12
|
1.18 |
1.36 |
1.69 |
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.41
|
1.43 |
1.61 |
1.95 |
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.10
|
0.10 |
0.09 |
0.11 |
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
6.43
|
6.04 |
4.46 |
4.67 |
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
5.61
|
4.15 |
3.75 |
4.62 |
LOCAL AGENCY FURTHER INFORMATION
OPERATING STATEMENT
(RS. IN MILLIONS)
|
PARTICULARS |
2010-11 |
2011-12 |
|
|
Provisional |
Projected |
|
Gross Sales |
|
|
|
Domestic Sales |
539.535 |
800.000 |
|
Export Sales |
112.219 |
200.000 |
|
|
|
|
|
Total |
651.754 |
1000.000 |
|
|
|
|
|
Less : Excise Duty |
3.622 |
47.500 |
|
|
|
|
|
Net Sales |
648.132 |
952.500 |
|
|
|
|
|
% rise [+] or fall [-] in net sales as compared to
previous year |
45.62% |
46.96% |
|
|
|
|
|
Cost
of Sales |
|
|
|
|
|
|
|
Raw Materials Consumed |
|
|
|
-
Imported |
7.235 |
8.000 |
|
-
Indigenous |
483.119 |
663.700 |
|
|
|
|
|
Fixed Assets |
|
|
|
-
Imported |
0.000 |
0.000 |
|
-
Indigenous |
0.000 |
0.000 |
|
|
|
|
|
Stores Consumed |
0.000 |
0.000 |
|
Power and Fuel |
9.932 |
13.500 |
|
Direct Labour and Wages |
44.411 |
55.000 |
|
Other Manufacturing Expenses |
77.821 |
122.500 |
|
Depreciation |
9.588 |
9.109 |
|
|
|
|
|
Sub
Total |
632.106 |
871.809 |
|
|
|
|
|
Add: Opening Stock-In-Process |
42.837 |
89.518 |
|
|
|
|
|
Sub
Total |
674.943 |
961.327 |
|
|
|
|
|
Less: Closing Stock-In-Process |
89.518 |
90.000 |
|
|
|
|
|
Cost
of Production |
585.425 |
871.327 |
|
|
|
|
|
Add: Opening Stock of Finished Goods |
45.752 |
50.806 |
|
|
|
|
|
Sub
Total |
631.177 |
922.133 |
|
|
|
|
|
Deduct: Closing Stock of Finished Goods |
50.806 |
70.000 |
|
|
|
|
|
SUB TOTAL (Total
cost of sales) |
580.371 |
852.133 |
|
|
|
|
|
Selling, General and Administrative Expenses |
30.926 |
52.500 |
|
|
|
|
|
Operating Profit before interests |
36.835 |
47.867 |
|
|
|
|
|
Interests |
42.931 |
52.000 |
|
|
|
|
|
Operating Profit After Interests |
(6.096) |
(4.133) |
|
|
|
|
|
Other Non Operating Income |
13.392 |
14.250 |
|
Other Non Operating Expenses |
0.000 |
0.000 |
|
|
|
|
|
Net
of Non-operating Income and Expenses |
13.392 |
14.250 |
|
|
|
|
|
Profit
before Tax/ Loss [PBT] |
7.296 |
10.117 |
|
|
|
|
|
Provision for taxes |
2.100 |
3.000 |
|
|
|
|
|
Net
Profit / Loss [PAT] |
5.196 |
7.117 |
|
|
|
|
|
Retained Profit |
5.196 |
7.117 |
|
Retained Profit. Net Profit (% age) |
100.00 |
100.00 |
------------------------------------------------------------------------------------------------------------------------------
ANALYSIS OF BALANCE SHEET
(RS.
IN MILLIONS)
|
Particulars
|
2010-11 |
2011-12 |
|
|
Provisional |
Projected |
|
|
|
|
|
Short Term Borrowing from Bank |
|
|
|
i. From Application Bank |
264.332 |
270.000 |
|
ii. From Other Banks |
0.000 |
80.000 |
|
iii. Of which BP and BD |
-- |
-- |
|
|
|
|
|
SUB
TOTAL (A) |
264.332 |
350.000 |
|
|
|
|
|
Short Term Borrowings From Others |
0.000 |
0.000 |
|
Sundry Creditors (Trader) |
60.440 |
65.000 |
|
Advances Payment from customers |
0.000 |
0.000 |
|
Provision For Taxes |
2.100 |
3.000 |
|
Proposed Dividend |
0.000 |
0.000 |
|
Other Statutory Liabilities (due within one years) |
0.000 |
0.000 |
|
Deposits of term loans and Deferred Payment Credits |
0.000 |
0.000 |
|
Other current Liabilities and Provisions (due within one
years) |
9.471 |
11.812 |
|
|
|
|
|
Sub
Total (B) |
72.011 |
79.812 |
|
|
|
|
|
TOTAL
CURRENT LIABILITIES |
336.343 |
429.812 |
|
|
|
|
|
TERM
LIABILITIES |
|
|
|
|
|
|
|
Debentures |
0.000 |
0.000 |
|
Redeemable Preference Shares |
0.000 |
0.000 |
|
Term Loan |
21.792 |
13.624 |
|
Deferred Payment Credits |
0.000 |
0.000 |
|
Unsecured Loans |
0.000 |
0.000 |
|
Term Deposit/ Deferred Tax
Liability |
0.000 |
0.000 |
|
Other Term Liabilities |
9.534 |
4.112 |
|
|
|
|
|
TOTAL
TERM LIABILITIES |
31.326 |
17.736 |
|
|
|
|
|
TOTAL
OF OUTSIDE LIABILITIES |
367.669 |
447.548 |
|
|
|
|
|
NET
WORTH |
|
|
|
Ordinary Shares Capital |
24.340 |
47.340 |
|
Share Application Money |
23.000 |
16.000 |
|
General Reserve |
22.280 |
29.397 |
|
Deferred Tax Liabilities |
0.000 |
0.000 |
|
Other Reserve (Excluding Provision) |
0.000 |
0.000 |
|
Revolution Reserve |
0.000 |
0.000 |
|
Reserves and Surplus |
0.000 |
0.000 |
|
Unsecured Loans |
80.000 |
95.000 |
|
Surplus (+) or deficit (-) in Profit and Loss Account |
0.000 |
0.000 |
|
Share Premium |
0.000 |
0.000 |
|
Other (Specify) – |
0.000 |
0.000 |
|
|
|
|
|
TOTAL
NET WORTH |
149.620 |
187.737 |
|
|
|
|
|
TOTAL
LIABILITIES |
517.288 |
635.284 |
|
|
|
|
|
ASSETS |
|
|
|
|
|
|
|
CURRENT
ASSETS |
|
|
|
|
|
|
|
Cash and Bank Balance |
1.637 |
1.600 |
|
Investments [Other than long term investments] |
5.194 |
5.500 |
|
Receivables other than deferred and exports |
126.551 |
180.000 |
|
Export receivables |
16.810 |
49.315 |
|
Installments of deferred receivable |
0.000 |
0.000 |
|
|
|
|
|
INVENTORY |
|
|
|
|
|
|
|
Raw Materials |
|
|
|
- Imported |
0.000 |
0.000 |
|
- Indigenous |
0.000 |
0.000 |
|
|
|
|
|
Stock in Process |
89.518 |
90.000 |
|
Finished Goods |
50.806 |
70.000 |
|
Other Consumable Spares |
0.000 |
0.000 |
|
Advances to suppliers |
5.448 |
7.000 |
|
Advance Payment of Taxes |
0.000 |
3.000 |
|
Other Current Assets |
4.691 |
5.200 |
|
|
|
|
|
TOTAL
CURRENT ASSETS |
447.010 |
571.615 |
|
|
|
|
|
FIXED
ASSETS |
|
|
|
|
|
|
|
Gross Block (Land and Building Machinery) |
107.212 |
109.712 |
|
Depreciation to date |
37.577 |
46.686 |
|
|
|
|
|
NET
BLOCK |
69.635 |
63.026 |
|
|
|
|
|
OTHER
NON CURRENT ASSETS |
|
|
|
|
|
|
|
Investments/ Book Debts. Advances/ Deposits which are not
current Assets |
0.000 |
0.000 |
|
Investments in sub |
0.000 |
0.000 |
|
Advances suppliers of Capital goods and contractors |
0.000 |
0.000 |
|
Investment in Others |
0.000 |
0.000 |
|
Deferred Receivables |
0.643 |
0.643 |
|
Other Non-Current Investment |
0.000 |
0.000 |
|
Loans and Advance |
0.000 |
0.000 |
|
|
|
|
|
TOTAL
OTHER NON CURRENT ASSETS |
0.643 |
0.643 |
|
|
|
|
|
Intangible Assets |
0.000 |
0.000 |
|
|
|
|
|
TOTAL
ASSETS |
517.288 |
635.284 |
|
|
|
|
|
Tangible Networth |
149.620 |
187.737 |
|
|
|
|
|
Net Working Capital
|
110.668 |
141.804 |
|
|
|
|
|
Current Ratio |
1.33 |
1.33 |
|
|
|
|
|
Total Outside Liabilities/ Tangible Net Worth |
2.46 |
2.38 |
------------------------------------------------------------------------------------------------------------------------------
COMPARATIVE STATEMENT OF CURRENT
ASSETS AND LIABILITIES
(RS. IN MILLIONS)
|
Particulars
|
2010-11 |
2011-12 |
|
|
Provisional |
Projected |
|
CURRENT
LIABILITIES |
|
|
|
|
|
|
|
A CURRENT ASSETS |
|
|
|
Raw Materials |
146.355 |
160.000 |
|
[a] Imported |
0.000 |
0.000 |
|
Months Consumption |
0.000 |
0.000 |
|
[b] Indigenous |
0.000 |
0.000 |
|
Months Consumption |
3.58 |
2.86 |
|
|
|
|
|
Other consumable spares |
|
|
|
Excluding those included 1 above |
|
|
|
[a] Imported |
0.000 |
0.000 |
|
Months Consumption |
0.000 |
0.000 |
|
[b] Indigenous |
0.000 |
0.000 |
|
Months Consumption |
0.000 |
0.000 |
|
|
|
|
|
Stock in process |
89.518 |
90.000 |
|
Months cost of production |
1.83 |
1.24 |
|
|
|
|
|
Finished goods |
50.806 |
70.000 |
|
Months cost of sales |
1.00 |
0.93 |
|
|
|
|
|
Receivable other than export and deferred receivables
[including bills purchased and discounted by bankers] |
126.551 |
180.000 |
|
Months domestic sales |
2.81 |
2.70 |
|
[excluding deferred payment sales] |
|
|
|
|
|
|
|
Export receivables [including bills
purchased and discounted by bankers] |
16.810 |
49.315 |
|
(Months Export Sales) |
1.80 |
2.96 |
|
|
|
|
|
Advances to suppliers of raw materials and
stores/ spares consumable |
5.448 |
7.000 |
|
|
|
|
|
Other current Assets including cash and bank
balances and deferred receivable due within one year |
11.522 |
15.300 |
|
|
|
|
|
TOTAL CURRENT ASSETS |
447.010 |
571.615 |
|
|
|
|
|
B CURRENT LIABILITIES |
|
|
|
[Other than bank borrowing for working
capital] |
|
|
|
|
|
|
|
Creditors for purchases of raw materials and
stores and consumable spares |
60.440 |
65.000 |
|
Months Purchases |
1.31 |
1.14 |
|
|
|
|
|
Advances from customers |
0.000 |
0.000 |
|
|
|
|
|
Statutory Liabilities |
0.000 |
0.000 |
|
|
|
|
|
Other current liability Specify Major Items) Current Loan Inst. |
11.571 |
14.812 |
|
Other Liabilities and Provision |
0.000 |
0.000 |
|
|
|
|
|
TOTAL |
72.011 |
79.812 |
------------------------------------------------------------------------------------------------------------------------------
COMPUTATION
OF MAXIMUM PERMISSIBLE BANK FINANCE FOR WORKING CAPITAL
(RS. IN MILLIONS)
|
Particulars
|
2010-11 |
2011-12 |
|
|
Provisional |
Projected |
|
FIRST
METHOD OF LENDING |
|
|
|
|
|
|
|
Total Current Assets |
447.010 |
571.615 |
|
|
|
|
|
Other current Liabilities (Other than Bank borrowings) |
72.011 |
79.812 |
|
|
|
|
|
Working Capital Gap |
374.999 |
491.803 |
|
|
|
|
|
Min. Stipulated net working capital (25% of WCG) |
107.550 |
130.575 |
|
|
|
|
|
Actual/ Project Net Working |
110.667 |
141.803 |
|
|
|
|
|
Item 3 minus item 4 |
267.449 |
361.228 |
|
|
|
|
|
Item 3 minus item 5 |
264.332 |
350.000 |
|
|
|
|
|
Maximum permissible bank finance |
264.332 |
350.000 |
|
|
|
|
|
Excess borrowing representing Shortfall in NWC |
(3.117) |
(11.228) |
------------------------------------------------------------------------------------------------------------------------------
FUND FLOW STATEMENT
(RS. IN MILLIONS)
|
Particulars
|
2010-11 |
2011-12 |
|
|
Provisional |
Projected |
|
SOURCES |
|
|
|
|
|
|
|
Net profit After Tax |
5.196 |
7.171 |
|
|
|
|
|
Depreciation |
9.588 |
9.109 |
|
|
|
|
|
Increase in Capital |
12.500 |
16.000 |
|
|
|
|
|
Increase in Term Liability |
(12.161) |
(13.590) |
|
|
|
|
|
Decrease in |
|
|
|
- Fixed
Assets |
0.000 |
0.000 |
|
-
Other Non Current Assets |
0.000 |
0.000 |
|
|
|
|
|
Others |
0.000 |
0.000 |
|
|
|
|
|
TOTAL SOURCES |
15.123 |
18.636 |
|
|
|
|
|
USES |
|
|
|
|
|
|
|
Net Loss |
0.000 |
0.000 |
|
|
|
|
|
Decrease in Term Liability |
0.000 |
0.000 |
|
|
|
|
|
Increase in |
|
|
|
-
Fixed Assets |
2.469 |
2.500 |
|
-
Other Non Current Assets |
0.000 |
0.000 |
|
|
|
|
|
Dividend Payments |
0.000 |
0.000 |
|
|
|
|
|
Other Unsecured Loans |
0.000 |
0.000 |
|
|
|
|
|
TOTAL USES |
2.469 |
2.500 |
|
|
|
|
|
Long Term Surplus (+) Deficit (-) |
12.654 |
16.136 |
|
|
|
|
|
Increase/ Decrease in current Assets (as per details Given Below) |
157.486 |
123.053 |
|
|
|
|
|
Increase/ decrease in current Liabilities other Than Bank Borrowing |
14.651 |
7.801 |
|
|
|
|
|
Increase/ decrease Working Capital Gap |
144.263 |
116.804 |
|
|
|
|
|
Net surplus (+)/ Deficit (-) |
(131.609) |
(100.668) |
|
|
|
|
|
Increase/ (Decrease) in Bank Borrowings |
103.368 |
85.668 |
|
|
|
|
|
Increase/
(Decrease) in Net Sales |
203.045 |
304.368 |
|
|
|
|
|
Break-Up of (4) |
|
|
|
|
|
|
|
Increase/ Decrease in Raw Material |
64.986 |
13.645 |
|
|
|
|
|
Increase/ Decrease in Stock in Process |
46.681 |
0.482 |
|
|
|
|
|
Increase/ Decrease in Finished Goods |
5.054 |
19.194 |
|
|
|
|
|
Increase/ Decrease in Receivables |
|
|
|
Domestic |
81.113 |
53.449 |
|
Export |
(39.475) |
32.505 |
|
|
|
|
|
Increase/ Decrease in Other Current Assets |
(0.873) |
3.778 |
------------------------------------------------------------------------------------------------------------------------------
COMPUTATION OF TOTAL INCOME
(RS.
IN MILLIONS)
|
PARTICULARS
|
2010-2011 |
|
|
|
|
Profit
and Gains from Business and Profession |
|
|
|
|
|
Net Profit as per Profit and Loss A/c |
5.231 |
|
Add: Depreciation as per Companies Act |
10.139 |
|
|
15.370 |
|
|
|
|
Less: Depreciation as per Income Tax Act |
10.263 |
|
|
5.107 |
|
|
|
|
Less: Exp. Disallowed due to non deduction
of TDS in Earlier year Now Allowed |
2.931 |
|
Add: Exp. Disallowed U/S 43 B |
0.307 |
|
|
|
|
Total
Income |
2.483 |
|
|
|
|
Total
Income Rounded Off U/S 288 A |
2.483 |
|
|
|
|
COMPUTATION OF TAX ON TOTAL INCOME |
|
|
Tax on Rs.3273020 @ 30% |
0.745 |
|
Add: Education Cess @ 2% |
0.015 |
|
Add: Second and Higher Education Cess @ 1%
|
0.007 |
|
|
|
|
Total
Tax Payable |
0.767 |
|
|
|
|
Less: Tax Deducted at Sources |
0.190 |
|
|
0.577 |
|
|
|
|
Add:
Interests Payable |
|
|
Interests u/s 234B and 234 C |
0.046 |
|
|
0.623 |
|
|
|
|
Less: Advance Tax Paid |
0.300 |
|
|
|
|
Tax
Refundable |
0.323 |
|
Tax Rounded Off U/s 288 B |
0.323 |
------------------------------------------------------------------------------------------------------------------------------
TO WHOM IT MAY CONCERN
(MR. PRAN NATH KHANNA)
(RS.
IN MILLIONS)
|
Particulars |
01.01.2011 |
|
|
Assets |
Investment
in Business |
|
|
|
|
|
|
|
Capital in Adigear International |
162.318 |
|
|
Capital in Adigear Enterprises |
3.032 |
|
|
Share Capital in Metaphor Exports Private
Limited |
6.926 |
|
|
Loan to Metaphor Exports Private Limited |
5.729 |
|
|
Loans and Advances |
32.528 |
|
|
|
|
|
|
Others
|
|
|
|
Jewellery |
1.138 |
|
|
Cash and Bank Balance |
0.538 |
|
|
LIC (Surrender Value) |
0.968 |
|
|
Other Precious Items |
1.325 |
|
|
|
|
|
|
Total
|
214.502 |
|
|
|
|
|
Personal
Liabilities/ Loan From Friends/ Relatives
|
|
17.532 |
|
|
|
|
|
NET WORTH |
|
Rs.196.970 Millions (Approximately) |
------------------------------------------------------------------------------------------------------------------------------
TO WHOM IT MAY CONCERN
(MRS. ANJU KHANNA)
(RS.
IN MILLIONS)
|
Particulars |
01.01.2011 |
|
|
Assets |
Immovable
|
|
|
|
100% share in the property situated at DLF
Qutab Enclave |
31.208 |
|
|
(Market Value Approx) |
|
|
|
|
|
|
|
Investment
in Business |
|
|
|
Capital in Adigear International |
57.780 |
|
|
Share Capital in Metaphor Exports Private
Limited |
2.934 |
|
|
Loan to Metaphor Exports Private Limited |
4.000 |
|
|
Other Investment |
3.255 |
|
|
|
|
|
|
Others
|
|
|
|
Jewellery |
0.000 |
|
|
Cash and Bank Balance |
0.875 |
|
|
LIC (Surrender Value) |
0.675 |
|
|
Other Precious Items |
2.132 |
|
|
|
|
|
|
Total
|
102.859 |
|
|
|
|
|
Personal
Liabilities/ Loan From Friends/ Relatives
|
|
6.528 |
|
|
|
|
|
NET WORTH |
|
Rs.96.331 Millions (Approximately) |
------------------------------------------------------------------------------------------------------------------------------
TO WHOM IT MAY CONCERN
(MR. SAMEER KHANNA)
(RS.
IN MILLIONS)
|
Particulars |
01.01.2011 |
|
|
Assets |
Investment
in Business |
|
|
|
|
|
|
|
Share Capital in Metaphor Exports Private
Limited |
5.426 |
|
|
Loan to Metaphor Exports Private Limited |
2.650 |
|
|
Loans and Advance |
0.430 |
|
|
|
|
|
|
Others
|
|
|
|
Jewellery |
0.930 |
|
|
Cash and Bank Balance |
0.305 |
|
|
LIC (Surrender Value) |
0.625 |
|
|
Other Precious Items |
0.850 |
|
|
Shares and Bonds etc. |
0.525 |
|
|
|
|
|
|
Total
|
11.741 |
|
|
|
|
|
Personal
Liabilities/ Loan From Friends/ Relatives
|
|
2.430 |
|
|
|
|
|
NET WORTH |
|
Rs.9.311 Millions (Approximately) |
------------------------------------------------------------------------------------------------------------------------------
VALUATION REPORT OF IMMOVABLE PROPERTY
|
Date of visit of the site for Valuation of Immovable Property |
24.06.2011 |
|
|
|
|
Date of making Valuation |
24.06.2011 |
|
|
|
|
Name of Owner(s) of the Property |
M/s. Metaphor Exports Private Limited D-15, Naraina Vihar, New Delhi – 28 Mb: 9810077944 (Mr. Sarneer Khanna) |
|
|
|
|
Date of Purchase of immovable Property |
09.05.2003 |
|
|
|
|
Whether necessary enquiry have been made from the concerned authority
with regard to the ownership of the property |
Yes |
|
|
|
|
If the properly in under Joint Ownership/ Co – Ownership, share of
each such owner. Are the shares undivided? |
Private Limited Company |
|
|
|
|
Brief
Description of the Property |
|
|
Location, Street. Ward No. (Postal Address) |
Premises M/s. Metaphor Exports Private Limited Plot No. 151, Sector -4, HSIDC Industrial Estate, IMT Manesar,
District Gurgaon |
|
|
|
|
Flat/ Plot No. |
Premises M/s. Metaphor Exports Private Limited Plot No. 151, Sector -4, HSIDC Industrial Estate, IMT Manesar,
District Gurgaon |
|
|
|
|
Is the IP bears the same description/ details as mentioned in the
documents/ title deed |
Yes |
|
|
|
|
Is the property situated in Residential/ Commercial/ Mixed area/
Industrial Area |
Industrial Area |
|
|
|
|
Is the Property situated in an unauthorized / authorized Colony |
Industrial Township Planned and developed by Haryana State Industrial development
Corporation (HSIIDC) |
|
|
|
|
Classification of the locality- high class/ middle class/ poor class |
Industrial class |
|
|
|
|
Proximity to civic amenities like Schools, hospital, Offices, Markets,
/cinema Hall etc. |
All civic amenities are available at Gurgaon |
|
|
|
|
Means and Proximity to surface communication by which the locality is
served. |
Connected by Road |
|
|
|
|
Area supported by documentary proof, features. |
Area = 30rn x 60m 1800 sqm/ 2153 sq yds Shape = Rectangular Possession Letter No. /HSIDC/IMT/2003/70/ dated 9.05.2003 |
|
|
|
|
Road, Street or lanes on which the land is abutting, surrounded. |
West Side abuts Road |
|
|
|
|
Is the construction! built-up Property is as per the plan approved by
the Competent authority |
Generally |
|
|
|
|
What is the floor space index permissible and percentage actually
utilized. |
Within Permissible Limits |
|
|
|
|
Estimated future life |
58 years |
|
|
|
|
Is it free hold or leasehold |
Free- Hold |
|
|
|
|
Is there any restrictive covenant in regard to use of land? |
For Industrial purpose only |
|
|
|
|
Does the land fall in an area included in any town planning plan of Govt.
or any statutory body? If so, given particulars. |
Yes/ Area planned and Developed by HSIDC |
|
|
|
|
Is the building owner-occupied tenanted / both? |
Owner Occupied |
|
|
|
|
it partly owner -occupied, Specify portion and extent of area under owner-occupation. |
Owner Occupied |
|
|
|
|
Land Rate adopted in the valuation |
Rs.20,000.00/ sq. yd. |
|
|
|
|
If Sale instances are not available or not relied upon, the basis of
arriving at the land rate |
The adopted rates are based on verbal enquiries from property dealer
of the area! other unit Holder around |
|
|
|
|
Guideline Value/ Value of immovable property as per Circle Rate. If
any, applicable in the area where IP is situated |
Rs.15,000.00/sq. yd. |
PART – II TECHNICAL DETAILS OF THE BUILDING
|
Number of floors
and Height of Each floor |
Three Storey with
Basement |
|
|
|
|
Year of
commencement of construction and year of completion |
2007-09 |
|
|
|
|
What was the
method of construction- by contact/ by Employing Labour directly/ both |
No authentic
details available/ provided. The Valuation has been based on CPWD/CWC Plinth Area
Rates as on 1.10.2007/ rates derived from updated to the Present day Price
Index. As such the details required at Item 42 to 44 are immaterial |
|
|
|
|
Type of
construction/ finishing |
Ordinary |
|
|
|
|
Load bearing
Walls! RCC Frame/ Steel Frame |
Load bearing wall |
|
|
|
|
Type of
foundations |
Raft foundation |
|
|
|
|
Walls (floor wise) |
RCC framed
Structure with load bearing walls |
|
|
|
|
Partitions |
BB in Cement Sand
mortar |
|
|
|
|
Doors, Windows
etc.(Floor wise) |
Coated/ Aluminum doors/
windows |
|
|
|
|
Flooring (Floor
wise) |
Generally kota
flooring |
|
|
|
|
Roofing and
Terracing |
RCC |
|
|
|
|
Internal wiring-
Surface or conduit |
Concealed |
|
|
|
|
Class of fittings-
Superior/ Ordinary/ poor |
Normal |
|
|
|
|
Sanitary
installation- Numbers Ordinary/ Superior |
Normal |
|
|
|
|
No. of lifts and
capacity |
No lift |
|
|
|
|
Overhead Tank a) where located |
Roof Top |
|
|
|
|
Water Pumps-
number and their Horse Power |
Water Pump |
|
|
|
|
Sewerage disposal-
Sewer line or Septic Tanks (No. and Capacity) |
Connected by
Public System |
PART- II VALUATION REPORT
PREAMBLE:
Pursuant to the request from the Party, this Valuation Report has been prepared
to assess the Present day Market Value of Industrial Premises on Plot No. 151,
Sector- 4, IMT, Manesar, Distt. Gurgaon, owned by M/s. Metaphors Private
Limited, D-15, Naraina Vihar, New Delhi – 28.
The Site was visited/ Property inspected by 18.06.20 11. This Report is
based on documents, referred to under Item- 12 of Part- I of this Report plus
other details/ data provided by the Party which was verified to the extent
possible ad relied upon, clubbed with site observations.
METHOD:
Land and Buildings Method has been adopted in this Valuation Report. For
construction, CPWD/CWC Plinth Area Rates as on 1.10.2007/ rates derived from,
have been taken as the basis. These rates have further been modified to bring
them at par with the present day Price Index and as per specifications found at
Site. Necessary depreciation for age and life of the structure has been taken
into account. Where the work is not covered under any of the standard
specifications; the rates have been assessed as on date.
The Land rates are based on verbal enquiries from the Property Dealers
of the area and localities.
DETAILS
OF VALUATION
|
A. Cost of Land |
|
|
|
|
|
Area of Plot |
= 2153.00 sq. yd. |
|
Assessed Rates |
= Rs.20,000.00/
sq. yd. |
|
Present Day Value |
= Rs.43.060
Millions |
|
|
|
|
Cost of Construction |
|
|
Three Storey with
full basement RCC Framed Structure with raft foundation, load bearing walls,
Generally kota flooring, in front, coated Aluminum Doors/ Partitions, AC
ducting on all floors partially incomplete/ unfinished. Ht.- 13.00’ (Av.)
each floor/ Partly full portion incomplete / YOC- 2007/09/ Residual life- 58
years. |
|
|
|
|
|
Plinth Area |
|
|
Ground Floor
=25.00m x 42.00m First Floor =
25.00m x 42.00m Second Floor =
25.00m x 42.00m Basement = 25.00m
x 42.00m |
= 1050.00 sqm. = 1050.00 sqm. = 1050.00 sqm. = 1050.00 sqm. |
|
Total |
= 4200.00 sqm. |
|
|
|
|
Assessed Rate
(av.) |
=
Rs.11,000.00/sqrn |
|
|
|
|
Present Day Value |
Rs.46.200 Millions
|
|
|
|
|
Add for
construction on roof top/ Hall/ rooms with ACC sheets roofing, mainly with
ACC Sheets cladding all around |
|
|
Plinth Area =
38.75’ x 45.50’ |
= 1763.12 sft |
|
Assessed Rate
(av.) |
= Rs.275.00/ sft. |
|
Present Day Value |
= Rs.0.485
Millions |
|
|
|
|
Add for Rear area/
Hall with ACC sheets over steel Trusses roofing, Welded mesh/ ACC sheets
cladding etc., Ht.- 16.50’ |
|
|
Plinth Area =
28.75’ x 98.43’ |
= 2829.86 sft |
|
Assessed Rate
(av.) |
= Rs.300.00/ sft. |
|
Present Day Value |
= Rs.0.849
Millions |
|
|
|
|
Add for Rain water
recovery System |
Ls. = Rs.0.120
Million |
|
|
|
|
Add for AC ducting
/all floors |
Ls. = Rs.0.250
Million |
|
|
|
|
Add for PCC in open
area in front and in Driveway |
Ls. =- Rs.0.050
Million |
|
|
|
|
Add for boundary
wall / Security room and Steel Gate etc. with Razor sharp fencing |
Ls. = Rs.0.250
Million |
|
|
|
|
Total Value of Construction |
Rs.48.204 Millions |
|
|
|
|
TOTAL
VALUE OF PROPERTY |
|
|
Cost of Land |
Rs.43.060 Millions
|
|
|
|
|
Cost of
Construction |
Rs.48.204 Millions
|
|
|
|
|
Total |
Rs.91.264 Millions |
------------------------------------------------------------------------------------------------------------------------------
NOTE:
The Registered office of the company has been shifted from, D-45,
Naraina Vihar, New Delhi – 110028, India, to the present address w.e.f
05.01.2007.
------------------------------------------------------------------------------------------------------------------------------
FORM 8:
|
Corporate
identity number of the company |
U93000DL2001PTC109997 |
|
Name of the company
|
METAPHOR EXPORTS
PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
C-178, Naraina
Indl, Area Phase-I, Delhi – 110028, India |
|
This form is for |
Creation of charge |
|
Type of charge |
Book debts Movable property (not being pledge) |
|
Particular of
charge holder |
Corporation Bank Corporate Banking
Branch, 10th, Floor H.T. House, 18/20, K.G. Marg, Connaught Place, New Delhi
– 110001, India |
|
Nature of
instrument creating charge |
Common Deed of
Hypothecation of Movables/ Assets/ Debts. |
|
Date of
instrument Creating the charge |
27.05.2011 |
|
Amount secured by
the charge |
Rs.115.000
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of
Interests: Base Rate+2.60% i.e.12.50% p.a. at present subject to change from time to time. Terms of Repayment: As per terms of sanction. Margin: As per terms of sanction. Extent and operations of the charge: CC CUM WCDL : Rs.115.000 Millions. |
|
Particulars of the
property charged |
Primary: Pari
passu first charge on inventory cum Book-Debts/Current assets. Collateral: Pari Passu first charge on Plant and
Machinery and other movable assets. |
------------------------------------------------------------------------------------------------------------------------------
FIXED ASSETS:
· Computers
· Building
· Electric Equipment
· Machinery
· Fire Extinguisher
· Plastic Crates
· Furniture and Fixtures
· Air Conditioner
· Vehicles
· Land
· Invertor
· Water Pump
· Card Punching Machinery
· Electric Fittings
· Office Equipments
· Fax Machinery
· Transformer
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.44.41 |
|
|
1 |
Rs.72.49 |
|
Euro |
1 |
Rs.63.87 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
|
45 |
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.