MIRA
INFORM REPORT
|
Report Date : |
30.06.2011 |
IDENTIFICATION DETAILS
|
Name : |
CHALET HOTELS LIMITED |
|
|
|
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Registered
Office : |
Plot No. C -30, Block ‘G’, Opposite SIDBI. Bandra Kurla Complex, Bandra
(E), Mumbai – 400051, Maharashtra. |
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|
Country : |
India |
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|
|
|
Financials (as
on) : |
31.03.2010 |
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Date of
Incorporation : |
06.01.1986 |
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Com. Reg. No.: |
11-038538 |
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Capital
Investment / Paid-up Capital : |
Rs. 1521.423 millions |
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|
|
|
CIN No.: [Company Identification
No.] |
U55101MH1986PLC038538 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMC12494G |
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|
Legal Form : |
A Closely Held Public Limited Company. |
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Line of Business
: |
Hotels and Property Development. |
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No. of Employees
: |
Not divulged by the management. |
RATING & COMMENTS
|
MIRA’s Rating : |
A (58) |
|
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 20000000 |
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|
Status : |
Good |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is a part of K Raheja Corporation, a successful realty
developers having large means. It is an established company having fine track. Trade relations are
reported as fair. Payments are reported to be usually correct and as per
commitments. The company can be considered normal for business dealings at usual
trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
INFORMATION DECLINED BY
|
Name : |
Mr. Ramesh Valecha |
|
Designation : |
Director |
|
Date : |
29.06.2011 |
LOCATIONS
|
Registered Office : |
Plot No. C -30, Block ‘G’, Opposite SIDBI. Bandra Kurla Complex,
Bandra (E), Mumbai – 400051, Maharashtra. |
|
Tel. No.: |
91-22-26564000 |
|
Fax No.: |
91-22-26564004 |
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E-Mail : |
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|
Website : |
DIRECTORS
AS ON 24.09.2010
|
Name : |
Mr. Chadru Lachmandas Raheja |
|
Designation : |
Director |
|
Address : |
Raheja House, 53A Plai Hill, Bandra, Mumbai – 400050, |
|
Date of Birth/Age : |
12.10.1940 |
|
Date of Appointment : |
06.01.1986 |
|
Election ID No : |
MT/08/036/196080 |
|
DIN No : |
00027979 |
|
|
|
|
Name : |
Mr. |
|
Designation : |
Director |
|
Address : |
Raheja House, 53A Plai Hill, Bandra, Mumbai – 400050, |
|
Date of Birth/Age : |
23.09.1971 |
|
Date of Appointment : |
04.09.1995 |
|
Election ID No : |
MT/08/036/195498 |
|
DIN No : |
00028044 |
|
|
|
|
Name : |
Mr. Neel Chandru Raheja |
|
Designation : |
Director |
|
Address : |
Raheja House, 53A Plai Hill, Bandra, Mumbai – 400050, |
|
Date of Birth/Age : |
27.06.1974 |
|
Date of Appointment : |
12.12.1996 |
|
DIN No : |
00029010 |
|
|
|
|
Name : |
Mr. Rusi Nusseerwanji Sethna |
|
Designation : |
Director |
|
Address : |
B/23, |
|
Date of Birth/Age : |
26.11.1932 |
|
Date of Appointment : |
16.12.1999 |
|
DIN No : |
00184588 |
|
|
|
|
Name : |
Mr. Joseph Conard D’souza |
|
Designation : |
Director |
|
Address : |
17/83, MHB Colony, Bandra Reclamation, Bandra (West), Mumbai – 400050,
Maharashtra, India. |
|
Date of Birth/Age : |
12.01.1960 |
|
Date of Appointment : |
16.08.2002 |
|
DIN No : |
00010576 |
|
|
|
|
Name : |
Mr. Hetal Madhukant Gandhi |
|
Designation : |
Director |
|
Address : |
Rosy House, Flat No. 61, North Avenue, Santacruz (West), Mumbai –
400054, Maharashtra, India. |
|
Date of Birth/Age : |
29.07.1965 |
|
Date of Appointment : |
20.03.2003 |
|
DIN No : |
00106895 |
|
|
|
|
Name : |
Mr. Ramesh Valecha |
|
Designation : |
Director |
|
Address : |
501, Trailokya, |
|
Date of Birth/Age : |
25.12.1955 |
|
Qualification : |
B. Com, ACA |
|
Experience : |
27 Years |
|
Date of Appointment : |
15.12.2007 |
|
Previous Employment : |
K Raheja Sales – Senior Accounts Executive |
|
DIN No : |
00389678 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 24.09.2010
|
Names of Shareholders |
No. of Shares |
|
Chadru Lachmandas Raheja Jyoti Chadru Raheja |
2213088 |
|
Jyoti Chadru Raheja Chadru Lachmandas Raheja |
2220000 |
|
Neel Chandru Raheja Chadru Lachmandas Raheja Jyoti Chadru Raheja |
7218056 |
|
Raghukool Estate Development Private Limited, India |
16495680 |
|
Capstan Trading Private Limited, India |
16495680 |
|
Casa Maria Properties Private Limited, India |
16496280 |
|
Anbee Construction Private Limited, India |
13116180 |
|
Cape Trading Private Limited, India |
13116180 |
|
Chadru Lachmandas Raheja, Karta of Chadru Lachmandas HUF Jyoti Chadru Raheja |
600000 |
|
Ravi Chandru Raheja Chadru Lachmandas Raheja Jyoti Chadru Raheja |
7218056 |
|
K Raheja Private Limited, India |
12400000 |
|
Touchstone Property and Hotels Private Limited, India |
14400000 |
|
Housing Developmet Finance Corporation Limited, India |
10000000 |
|
K Raheja Private Limited, India |
9570000 |
|
Ivory Properties and Hotels Private Limited, India |
5572253 |
|
Uptown Properties and Leasing Private Limited, India |
5000000 |
|
Chadru Lachmandas Raheja |
6912 |
|
Ravi Chandru Raheja |
1944 |
|
Neel Chandru Raheja |
1944 |
|
|
|
|
Total |
152142253 |
AS ON 24.09.2010
|
Category |
Percentage |
|
Bodies corporate |
87.20 |
|
Directors or relatives of Directors |
12.80 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Hotels and Property Development. |
GENERAL INFORMATION
|
No. of Employees : |
Not divulged by the management. |
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Bankers : |
·
Canara Bank ·
Indian Overseas Bank ·
Corporation Bank ·
Punjab National Bank ·
Bank of India ·
Vijaya Bank ·
ICICI Bank Limited ·
Oriental Bank of Commerce ·
Standard Chartered Bank, 90, M. G. Road, Fort,
Mumbai-400001, Maharashtra, India |
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Facilities : |
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Banking
Relations : |
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|
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|
Auditors : |
|
|
Name : |
Deloite Haskins and Sells Chartered Accountant. |
|
Address : |
12, |
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|
|
|
Subsidiaries : |
CIN No : U70101MH2004PTC146226
CIN No : U60232KA2005PTC054207
CIN No : U45200MH2005PTC157987
CIN No : U55101KL2006PTC020125 |
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|
|
|
Enterprises over which person described in exercises significant
influence and with which the company had transactions during the year. : |
|
CAPITAL STRUCTURE
AS ON 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
152500000 |
Equity Shares |
Rs.10/- each |
Rs. 1525.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
152142253 |
Equity Shares |
Rs.10/- each |
Rs. 1521.423
Millions |
|
|
|
|
|
Note: of the above 45000000 Equity Shares were
issued as Bonus shares out of Revaluation Reserve.
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 |
1521.423 |
1521.423 |
1521.423 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
3535.509 |
3442.857 |
3282.730 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
5056.932 |
4964.280 |
4804.153 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
6277.834 |
5500.095 |
3217.592 |
|
|
2] Unsecured Loans |
313.507 |
38.428 |
6.450 |
|
|
TOTAL BORROWING |
6591.341 |
5538.523 |
3224.042 |
|
|
DEFERRED TAX LIABILITIES |
183.150 |
170.028 |
150.569 |
|
|
|
|
|
|
|
|
TOTAL |
11831.423 |
10672.831 |
8178.764 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
7865.813 |
4743.558 |
2730.354 |
|
|
Capital work-in-progress |
1692.832 |
3917.372 |
3183.564 |
|
|
|
|
|
|
|
|
INVESTMENT |
60.677 |
120.722 |
550.187 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
2005.230
|
196.051 |
106.943
|
|
|
Sundry Debtors |
161.200
|
139.286 |
175.307
|
|
|
Cash & Bank Balances |
106.860
|
331.335 |
152.758
|
|
|
Other Current Assets |
0.036
|
0.030 |
0.029
|
|
|
Loans & Advances |
772.168
|
2058.573 |
2015.871
|
|
Total
Current Assets |
3045.494
|
2725.275 |
2450.908 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
623.684
|
679.056 |
425.827 |
|
|
Other Current Liabilities |
153.020
|
120.378 |
106.740
|
|
|
Provisions |
56.689
|
34.662 |
203.682
|
|
Total
Current Liabilities |
833.393
|
834.096 |
736.249 |
|
|
Net Current Assets |
2212.101
|
1891.179 |
1714.659
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
11831.423 |
10672.831 |
8178.764 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Rooms, Food and Beverage and Other Services |
2129.530 |
1931.527 |
2252.994 |
|
|
|
Sales of Flats |
0.000 |
133.896 |
388.705 |
|
|
|
Net Gain / (Loss) on foreign Exchange |
46.635 |
(15.523) |
18.657 |
|
|
|
Profit on Sale of shares of a subsidiary (Long- term) |
0.000 |
0.000 |
463.030 |
|
|
|
Other Income |
306.778 |
125.624 |
158.118 |
|
|
|
TOTAL (A) |
2482.943 |
2175.524 |
3281.504 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Sales |
0.000 |
53.928 |
222.147 |
|
|
|
Operating and General Expenses |
1683.813 |
1368.169 |
1085.168 |
|
|
|
Provision for Diminution in Value of Investments |
0.100 |
0.000 |
0.000 |
|
|
|
Pre – Operative Expenses Capitalized |
0.000 |
(4.219) |
0.000 |
|
|
|
TOTAL (B) |
1683.913 |
1417.878 |
1307.315 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
799.030 |
757.646 |
1974.189 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
343.358 |
316.009 |
152.972 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
455.672 |
441.637 |
1821.217 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
349.897 |
179.318 |
253.649 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
105.775 |
262.319 |
1567.568 |
|
|
|
|
|
|
|
|
|
Less |
TAX (I) |
13.122 |
102.193 |
475.372 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-I) (J) |
92.653 |
160.126 |
1092.196 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
1441.317 |
1358.862 |
562.218 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
0.000 |
0.000 |
27.500 |
|
|
|
Dividend |
0.000 |
0.000 |
177.999 |
|
|
|
Appropriation To Furniture, Fixtures and
Equipments Renewal Reserve |
65.499 |
77.671 |
90.053 |
|
|
BALANCE CARRIED
TO THE B/S |
1468.471 |
1441.317 |
1358.862 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
|
|
|
|
|
|
Stores & Spares |
61.109 |
7.427 |
NA |
|
|
|
Capital Goods |
86.568 |
232.638 |
NA |
|
|
|
Others |
4.495 |
0.000 |
NA |
|
|
TOTAL IMPORTS |
152.172 |
240.065 |
NA |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
0.61 |
1.05 |
7.16 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
3.73
|
7.36 |
33.28 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
NA
|
195.91 |
403.28 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.97
|
3.51 |
30.25 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.02
|
0.05 |
0.33 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.50
|
1.32 |
0.86 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
3.65
|
3.27 |
3.33 |
LOCAL AGENCY FURTHER INFORMATION
SUNDRY CREDITORS
DETAILS
(Rs.
in millions)
|
SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
Sundry Creditors |
|
|
|
|
Micro and Small Enterprise |
2.267 |
0.842 |
0.000 |
|
Others |
621.417 |
678.214 |
425.827 |
|
Total |
623.684 |
679.056 |
425.827 |
REVIEW OF
OPERATIONS
- The total revenue from hotel operations
was Rs. 2127.300
millions (Rs.1936.400 millions in the previous year). The revenue includes
that arising from the two new hotels of the company that commenced
operations during the year, viz. the Four Points by Sheraton at Vashi,
Navi Mumbai which commenced operations with 89 (out of 118 rooms and
apartments) in May 2009 and the Westin at Hyderabad which commenced in
December 2009 with 252 rooms out of 428 rooms and suites. The interest and
depreciation charged to the profit and loss account for the year are
higher on account of these two properties being commissioned during the
year.
- The Renaissance Mumbai Hotel and
Convention Centre and the Marriott Executive Apartments maintained a
stable occupancy during the year under report, recovering quickly from the
slow-down that continued to affect its
- operations during the initial months of
the year.
- The Four Points by Sheraton at Vashi
has exceeded expectations in the ten plus months of operations. The
Hyderabad Westin, having missed out a greater part of the busy season of
the year under report, is expected to
- stabilize on occupancy and rates in the
current year.
- During the year the Company launched
sale of residential units in its two projects at Mindspace, Hyderabad and
Koramangala, Bangalore, both of which have received a good response.
Construction work on the project at Hyderabad is in progress while
contractors for the Bangalore project have been appointed.
ECONOMIC AND INDUSTRY OUTLOOK
The effects of the
global slowdown of 2008-09 continued to impact the industry during the first
half of the financial year 2009-10. The fiscal stimulus packages implemented by
the Indian Government and the gradual revival of the global economy improved
the sentiment and helped in reversing the trends in the second half of the
year. However, the threat of a financial crisis arising from some European countries
again created an atmosphere of uncertainty. Mercifully that crisis was averted
and it is expected that normalcy will return in the current financial year. The
Indian economy has demonstrated great resilience and has in fact clocked a GDP
growth of 7.2% in 2009-10 with growth being projected at an average of 8% per
annum for the next few years. The rate of inflation is an area of concern but
it is not expected to be a threat to the growth momentum. The tourism industry
hopes to reap the fruits of growth and revival in the years to come.
FORM 8
|
Corporate
identity number of the company |
U55101MH1986PLC038538 |
|
Name of the
company |
CHALET
HOTELS LIMITED |
|
Address of the
registered office or of the principal place of business in |
Plot
No. C-30, Block 'G' Opposite SIDBI, Bandra Kurla Complex, Bandra (East),
Mumbai-400051, Maharashtra, India |
|
This form is for |
Creation of charge |
|
Type of charge |
Immovable property Others |
|
Particular of
charge holder |
Standard Chartered Bank, 90, M. G. Road, Fort, Mumbai-400001,
Maharashtra, India |
|
Nature of
instrument creating charge |
Deed
of Mortgage cum Charge |
|
Date of
instrument Creating the charge |
17.03.2011 |
|
Amount secured by
the charge |
Rs. 1344.900 millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of interest LIBOR
+ 300 basis point. Subject to RBI Guidelines and as agreed between Lender and
Borrower Terms of
repayment Door
to door tenor for each disbursement will be 5 years for each tranche of
disbursement. Tenor and ECB restrictions are governed by External Commercial
Borrowing (ECB) Guidelines of Reserve Bank of India. Extent and
operation of the charge The
Charge created on the immovable properties being Plots of land and the
Buildings thereon (Renaissance Hotel and Convention Centre Phase I and Phase
II and Marriott Executive Apartments) situated at Village Paspoli, Taluka
Kurla, Mumbai, will operate as security for the External Commercial Borrowing
(ECB) of USD 30 million granted by Standard Chartered Bank to the Company.
The charge will be on a pari passu basis with HDFC Limited and Indian
Overseas Bank, the existing Lenders of the Company. |
|
Short particulars
of the property charged (Including location of the property) |
All
that piece and parcel of land being Sub Plot A1 out of S.No.2(pt), CTS No.71A
of Village Paspoli, Taluka Kurla, Mumbai adm.18,562.50 sq. mtrs or
thereabouts All that
piece and parcel of land being Sub-divided Plot A2 out of S.No.3B(pt), CTS
NO.72B/A of Village Paspoli, Taluka Kurla, Mumbai adm.14,502.80 sq. mtrs. or
thereabouts All
that piece and parcel of land being Sub-divided Plot A3 out of S.No.3B(pt),
CTS NO.72B/C of Village Paspoli, Taluka Kurla, Mumbai adm.6253.90 sq. mtrs.
or thereabouts All
that piece and parcel of land being Sub-divided Plot A4 out of S.No.3B(pt),
CTS NO.72A/B of Village Paspoli, Taluka Kurla, Mumbai adm.5730.50 sq.mtrs. or
thereabouts The
constructed premises consisting Renaissance Hotel and Convention Centre Phase
I comprising of basement, ground and 10 upper floors situated on the
Land The
constructed premises consisting Renaissance Hotel and Convention Centre Phase
II comprising of lower basement and upper basement, ground and 20 upper
floors situated on Land Marriott
Executive Apartments comprising of Ground plus 10 upper floors situated on
the Land All the
present and future book debts, outstanding moneys receivable, claims and
bills due and owing or which may at any time during continuance of this
security become due and owing in relation to Powai Project after deducting
the operators fee in respect of the Powai Project. |
FIXED ASSETS :
- Building
- Leasehold Improvements
- Plant And Machinery
- Data Processing Equipments
- Electrical Installation
- Vehicles
- Office Equipments
- Porta Cabin
- Furniture and Fixtures
- Trase Marks
- Computer Software.
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.44.94 |
|
|
1 |
Rs.71.91 |
|
Euro |
1 |
Rs.64.60 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--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 |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
58 |
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.