%20LIMITED%20-%20143879%2001-Jun-2011_files/image002.jpg){kind=small}
MIRA
INFORM REPORT
|
Report Date : |
01.06.2011 |
IDENTIFICATION DETAILS
|
Name : |
REID AND TAYLOR ( |
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Registered
Office : |
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Country : |
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Financials (as
on) : |
31.03.2010 |
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Date of
Incorporation : |
19.04.2000 |
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Com. Reg. No.: |
11-126018 |
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Paid Up Capital
: |
Rs. 538.389 Millions |
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|
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CIN No.: [Company Identification
No.] |
U17114MH2000PLC126018 |
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|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMR13430E |
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|
Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Manufacturer of Reid and Taylor worsted suiting and premium natural
fiber suiting |
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No. of Employees
: |
350 (approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
A (67) |
|
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 5252000 |
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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 reputed and established 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 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.
INFORMATION PARTED BY
|
Name : |
Mr. Ajay |
|
Designation : |
Accountant |
|
Date : |
31.05.2011 |
LOCATIONS
|
Registered Office : |
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Tel No.: |
91-22-28250797 |
|
Fax No.: |
91-22-24931685 |
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E-Mail : |
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Website : |
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Location : |
Owned |
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|
|
|
Factory : |
Worsted Fabric Complex, Thandavpura, Nanjangud Taluka, Mysore
District, |
DIRECTORS
As on 20.09.2010
|
Name : |
Mr. Nitin Shambhukumar Kasliwal |
|
Designation : |
Chairman and Managing Director |
|
Address : |
Flat No.1, Kanta, Little |
|
Date of Birth/Age : |
22.11.1960 |
|
Date of Appointment : |
19.05.2008 |
|
DIN : |
00022630 |
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|
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Name : |
Smt. Jyoti Nitin Kasliwal |
|
Designation : |
Director |
|
Address : |
Flat No.1, Kanta, Little |
|
Date of Birth/Age : |
26.12.1960 |
|
Date of Appointment : |
25.08.2008 |
|
DIN : |
01339295 |
|
|
|
|
Name : |
Mr. Kunnasagaran Chinniah |
|
Designation : |
Director |
|
Address : |
12, |
|
Date of Birth/Age : |
10.05.1957 |
|
Date of Appointment : |
14.07.2008 |
|
DIN : |
01590108 |
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|
|
|
Name : |
Mr. Dara P. Mehta |
|
Designation : |
Director (w.e.f. 14.12.2009) |
|
Address : |
4th Floor, South Lands, 177, |
|
Date of Birth/Age : |
13.07.1933 |
|
Date of Appointment : |
14.12.2009 |
|
DIN : |
00041164 |
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|
|
|
Name : |
Mr. Anil Channa |
|
Designation : |
Director |
|
Address : |
71, Sagar Tarang CHS., 15, K. Abdul Gafur Khan Road, Worli, Mumbai –
400018, Maharashtra |
|
Date of Birth/Age : |
01.09.1948 |
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Date of Appointment : |
25.08.2008 |
|
DIN : |
01359682 |
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|
|
|
Name : |
Mr. Dara D. Avari |
|
Designation : |
Director |
|
Address : |
A-4, Diamond Court, 40, |
|
Date of Birth/Age : |
21.10.1934 |
|
Date of Appointment : |
25.08.2008 |
|
DIN : |
00022642 |
|
|
|
|
Name : |
Mr. Pradeep Panalal Shahi |
|
Designation : |
Additional Director |
|
Address : |
72A Embassy Apartments, 7th Floor, |
|
Date of Birth/Age : |
07.01.1953 |
|
Date of Appointment : |
30.07.2010 |
|
DIN : |
00066242 |
KEY EXECUTIVES
|
Name : |
Mr. Nihar Ravindra Avasare |
|
Designation : |
Secretary |
|
Address : |
2B/204, Umiyanagar CHS Limited, Off Aarey Road, Near Udipi Vihar
Hotel, Goregaon (East), Mumbai -400063, |
|
Date of Birth/Age : |
23.06.1980 |
|
Date of Appointment : |
15.02.2008 |
|
PAN No.: |
AHYPA2263Q |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 20.09.2010
|
Names of Shareholders |
|
No. of Shares |
|
S. Kumar Nationwide Limited Jointly with Shri L.N. Somani |
|
1 |
|
S. Kumar Nationwide Limited Jointly with Shri NImesh S. Shah |
|
1 |
|
S. Kumar Nationwide Limited Jointly with Shri Ramesh Laddha |
|
1 |
|
S. Kumar Nationwide Limited Jointly with Shri Naresh Maheshwari |
|
1 |
|
S. Kumar Nationwide Limited Jointly with Shri J.S. Shetty |
|
1 |
|
S. Kumar Nationwide Limited, Worli |
|
100124994 |
|
S. Kumar Nationwide Limited Jointly with Shri Ganesh Pai |
|
1 |
|
Indivest Pte Limited, |
|
34472453 |
|
Total |
|
134597453 |
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 |
25.61 |
|
Directors or relatives of Directors |
74.39 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Reid and Taylor worsted suiting and premium natural
fiber suiting |
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Products : |
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Terms : |
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Selling : |
Depend |
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Purchasing : |
Depend |
PRODUCTION STATUS (As On 31.03.2010)
|
Particulars |
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|
Unit |
Actual
Production |
|
Fabrics |
|
|
Mtrs |
30.213 |
|
Readymade Garments |
|
|
Pcs |
3.265 |
Installed capacity#
i) Spinning: 12960 Spindles
ii) Weaving :
90 lac mtrs p.a
# (As certified by the Management, being a technical matter)
GENERAL INFORMATION
|
No. of Employees : |
350 (approximately) |
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Bankers : |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
Haribhakti and Company Chartered Accountant |
|
Address : |
42, Free Press House, 4th Floor, 215, Nariman Point, Mumbai
– 400021, |
|
PAN No. : |
AAAFH2010F |
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|
Solicitors : |
Little and Company |
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Holding Company : |
CIN No. : L17120MH1990PLC058361 |
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Wholly Owned Subsidiary : |
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Subsidiary : |
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Enterprises over
which Key Managerial Personnel are able to exercise significant influence
: |
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CAPITAL STRUCTURE
As on 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
55,000,000 |
Equity Shares |
Rs.10/-each |
Rs.550.000
million |
|
1,550,000 |
Preference Shares |
Rs.20/-each |
Rs.31.000
million |
|
|
Total |
|
Rs.581.000
million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
53838981 |
Equity Shares |
Rs.10/-each |
Rs.538.389 million |
|
|
|
|
|
Note:
4,00,50,000 share are held by the holding company S. Kumars Nationwide Limited)
As on 20.09.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
150,000,000 |
Equity Shares |
Rs.10/-each |
Rs.1500.000 million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
134,597,453 |
Equity Shares |
Rs.10/-each |
Rs.1345.975 million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
538.389 |
520.347 |
400.500 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
12594.012 |
9482.665 |
274.644 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
13132.401 |
10003.012 |
675.144 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
4239.281 |
2221.234 |
3333.401 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
4239.281 |
2221.234 |
3333.401 |
|
|
DEFERRED TAX LIABILITIES |
15.251 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
17386.933 |
12224.246 |
4008.545 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
849.956 |
908.758 |
716.170 |
|
|
Capital work-in-progress |
2186.648 |
586.314 |
129.855 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.010 |
0.010 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
1.099 |
6.228 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
2848.030
|
1584.853 |
969.372 |
|
|
Sundry Debtors |
4864.618
|
2927.969 |
1911.067 |
|
|
Cash & Bank Balances |
701.303
|
600.619 |
27.810 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
7940.237
|
6833.815 |
954.501 |
|
Total
Current Assets |
16354.188
|
11947.256 |
3862.750 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
572.992
|
552.428 |
458.980 |
|
|
Other Current Liabilities |
48.628
|
42.718 |
58.061 |
|
|
Provisions |
1382.249
|
624.045 |
189.417 |
|
Total
Current Liabilities |
2003.869
|
1219.191 |
706.458 |
|
|
Net Current Assets |
14350.319
|
10728.065 |
3156.292 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
17386.933 |
12224.246 |
4008.545 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
9849.378 |
6526.034 |
1429.235 |
|
|
|
Other Income |
562.849 |
388.568 |
8.084 |
|
|
|
TOTAL (A) |
10412.227 |
6914.602 |
1437.319 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Raw Material Consumed / Purchased |
6059.347 |
2996.173 |
497.959 |
|
|
|
Manufacturing Expenses |
470.730 |
429.413 |
99.415 |
|
|
|
Personnel Expenses |
321.267 |
281.789 |
48.378 |
|
|
|
Administrative Expenses |
133.342 |
124.270 |
29.235 |
|
|
|
Selling and Distribution expenses |
711.205 |
717.198 |
120.676 |
|
|
|
Restructures Financial Cost Amortised |
21.976 |
10.988 |
1.991 |
|
|
|
Increase / Decrease in stock |
(1089.836) |
(219.215) |
73.537 |
|
|
|
Prior Period Expenses/ Income |
0.000 |
2.198 |
0.059 |
|
|
|
TOTAL (B) |
6628.031 |
4342.814 |
871.250 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
3784.196 |
2571.788 |
566.069 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
514.425 |
271.202 |
62.241 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
3269.771 |
2300.586 |
503.828 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
85.602 |
158.540 |
69.468 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
3184.169 |
2142.046 |
434.360 |
|
|
|
|
|
|
|
|
|
Less |
TAX (I) |
1154.785 |
704.326 |
159.716 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-I) (J) |
2029.384 |
1437.720 |
274.644 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
1712.364 |
274.644 |
0.000 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
3741.748 |
1712.364 |
274.644 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
Export (FOB Value) |
290.716 |
197.964 |
NA |
|
|
|
Total EARNINGS |
290.716 |
197.964 |
NA |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
Raw Materials |
206.722 |
94.204 |
NA |
|
|
|
Stores & Spares |
12.229 |
12.437 |
NA |
|
|
|
Capital Goods |
19.490 |
32.542 |
NA |
|
|
|
Finished Goods |
65.941 |
92.554 |
NA |
|
|
|
Total Imports |
304.382 |
231.737 |
NA |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
|
|
|
|
|
|
- Basic |
38.77 |
31.04 |
54.09 |
|
|
|
- Diulted |
38.77 |
30.84 |
54.09 |
|
|
Particulars |
|
|
31.03.2011 |
|
Sales Turnover |
|
|
12000.000 |
|
|
|
|
|
The above information has been parted by Mr. Ajay
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
19.49
|
20.79 |
19.11 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
32.33
|
32.82 |
30.39 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
18.51
|
16.66 |
9.49 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.24
|
0.21 |
0.64 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.48
|
0.34 |
5.98 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
8.16
|
9.80 |
5.47 |
LOCAL AGENCY FURTHER INFORMATION
The Details of
Sundry Creditors:
Rs.
In Millions
|
Particulars |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
Sundry Creditors |
|
|
|
|
Creditors for goods and expenses |
|
|
|
|
Total outstanding dues to micro, small and medium enterprise |
6.467 |
9.685 |
|
|
Others |
566.525 |
542.743 |
|
|
Total |
572.992 |
552.428 |
458.980 |
%20LIMITED%20-%20143879%2001-Jun-2011_files/image003.gif){kind=small}
Year in
Retrospect:
For the year ended 31.03.2010, the company has achieved a sales turnover
of Rs.9849.400 millions thereby achieving a growth of more than 50% over the
sales of the previous year. This growth has been achieved in the backdrop of
subdued sentiments which are still prevalent in the economy. This growth was
possible due to the strong brand image of Reid and
Current Business
Outlook and Plan:
The company manufacturers Reid and Taylor worsted suiting and premium
natural fiber suiting. The company also markets premium ready to wear garments
under the brand “Reid and Taylor” and “Stephens Brothers.” The company has
planned further growth in Reddy-to-Wear garments business by introduction of a
“Super Premium” brand also a new casual premium brand.
Share Capital:
During the year, Company has allotted 1804322 Equity shares of
Rs.10/-each to Invest Pte Limited at a premium of Rs.599.65 per equity share on
29.01.2010. As on 31.03.2010, the paid up equity shares capital of the company
is Rs.538.389 million divided into 53838981 equity shares of Rs.10/-each
FIXED ASSETS:
- Building
- Plant and Machinery
- Office Equipments
- Computers
- Furniture and Fixtures
- Vehicles
- System Development
Contingent Liabilities:
a) Guarantees:
Rs. In Millions
|
Particulars |
As on 31.03.2010 |
As on 31.03.2009 |
|
Corporate Guarantees given to the lenders of S. Kumar Nationwide
Limited |
2750.000 |
Nil |
b) Claims not acknowledges as debts :
Rs. In Millions
|
Particulars |
As on 31.03.2010 |
As on 31.03.2009 |
|
Entry tax liability – disputed |
Nil |
54.574 |
|
Disputed matters in respect of ESIC |
Nil |
0.041 |
|
Service tax on export agency commission –
disputed |
0.094 |
0.094 |
|
Excise duty on two to top conversion –
disputed |
6.821 |
6.851 |
|
Customs CVD duty - disputed |
2.116 |
2.116 |
Bankers Charges
Report as per Registry
|
Corporate identity
number of the company |
U17114MH2000PLC126018 |
|
Name of the
company |
REID AND TAYLOR ( |
|
Address of the
registered office or of the principal place of business in |
Marathon Innova It Park, B2/501 and C-501, 5th Floor, Off
G.K. Marg, Lower Parel (West), Mumbai – 400013, |
|
This form is for |
Modification
of Charge |
|
Charge
identification (ID) number of the charge to be modified |
10136737 |
|
Type of charge |
Immovable
Property |
|
Particular of
charge holder |
Bank of |
|
Nature of
instrument creating charge |
Memorandum of entry
dated 17.02.2011 for creation of second pari passu charge in favor of Bank of
India on immovable property situated at |
|
Date of
instrument Creating the charge |
17.02.2011 |
|
Amount secured by
the charge |
Rs.1685.000
millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest
– base rate + 3.5%, presently 12% Terms of
Repayment – on demand Margin – 25% against
raw material, finished goods 40% against
bookdebts outstanding of 2 or 3 months 40% against
bookdebts outstanding for more than 3 months to less than 6 months Extent and
Operation of the charge – as per
attached memorandum of entry dated 17.02.2011. |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
All the immovable
properties of the company situated at |
|
Date of
instrument modifying the charge |
06.09.2010 |
|
Particulars of
the present modification |
Working Capital
of Rs.457.000 millions of Bank of India secured by way of second paripassu
charge vide MOE recorded with ITSL on 17.02.2011 in respect of the company’s
immovable properties described in the second schedule of attached MOE there
by enhancing the security created in favor of Bank of India over the
company’s assets. |
AS PER WEBSITE
Subject is a subsidiary of SKNL. Synonymous with British tradition, Reid and Taylor has been styling the world's elite for over 170 years. It all began in the 1830's with Alexander Reid, an enterprising Scottish gentleman, embarking on a journey to make his vision a reality. Using locally available Cheviot wool he created Cheviot cloth that soon caught on the fancy of the landed gentry. As the clientele and reputation grew, he was joined by financer Joseph Taylor. Thus, began the enduring partnership of creating finest cloths in the world, which today is better known as Reid and Taylor. Reid and Taylor continues the journey to create the finest fabric passionately and has thus carved out a distinguished name for itself in the industry.
Reid and Taylor was launched by SKNL in
Reid and Taylor is the first brand in
The apparel range includes formal and casual daywear suits,
jackets, trousers, shirts ties and accessories along with a wide selection of T-shirts,
jeans, and other weekend wear. Produced by Reid and Taylor at a dedicated
facility in
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.45.03 |
|
|
1 |
Rs.74.43 |
|
Euro |
1 |
Rs.64.75 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
8 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
8 |
|
--PROFITABILIRY |
1~10 |
8 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
8 |
|
--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 |
|
67 |
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.