BUSINESS INFORMATION REPORT
1. Summary Information
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Country |
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Company Name |
FORWARD SHOES INDIA PRIVATE LIMITED |
Principal Name 1 |
Mr. Asgar Ali Dhala |
|
Status |
Moderate |
Principal Name 2 |
Mr. Muhamed Yavar Dhala |
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|
|
Registration # |
18-26984 |
|
Street Address |
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||
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Established Date |
08.03.1994 |
SIC Code |
-- |
|
Telephone# |
91-44-25385658 |
Business Style 1 |
Manufacturer |
|
Fax # |
91-44-25366187 |
Business Style 2 |
Exporter |
|
Homepage |
Product Name 1 |
Full Shoes |
|
|
# of employees |
Not Available |
Product Name 2 |
Shoes Upper |
|
Paid up capital |
Rs.75,850,000/- |
Product Name 3 |
-- |
|
Shareholders |
Directors or relatives of directors- 100% |
Banking |
State
Bank of |
|
Public Limited Corp. |
NO |
Business Period |
17 Years |
|
IPO |
NO |
International Ins. |
-- |
|
Public |
NO |
Rating |
B (29) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
CEO |
|
-- |
-- |
-- |
-- |
|
Note |
-- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2010 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
413,838,000 |
Current Liabilities |
145,650,000 |
|
Inventories |
0,000 |
Long-term Liabilities |
443,909,000 |
|
Fixed Assets |
575,625,000 |
Other Liabilities |
16,887,000 |
|
Deferred Assets |
0,000 |
Total Liabilities |
606,446,000 |
|
Invest& other Assets |
339,000 |
Retained Earnings |
306,556,000 |
|
|
0 |
Net Worth |
383,356,000 |
|
Total Assets |
989,802,000 |
Total Liab. & Equity |
989,802,000 |
|
Total Assets (Previous Year) |
952,974,000 |
|
|
|
P/L Statement as of |
31.03.2010 |
(Unit: Indian Rs.) |
|
|
Sales |
680,669,000 |
Net Profit |
834,000 |
|
Sales(Previous yr) |
664,029,000 |
Net Profit(Prev.yr) |
559,000 |
|
|
|
|
|
MIRA
INFORM REPORT
|
Report Date : |
14.11.2011 |
IDENTIFICATION DETAILS
|
Name : |
FORWARD SHOES INDIA PRIVATE LIMITED |
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Registered Office : |
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Country : |
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|
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Financials (as on) : |
31.03.2010 |
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|
Date of Incorporation : |
08.03.1994 |
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Com. Reg. No.: |
18-26984 |
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|
|
|
Capital
Investment / Paid-up Capital : |
Rs.75.850 Millions |
|
|
|
|
CIN No.: [Company
Identification No.] |
U19201TN1994PTC026984 |
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|
|
|
Legal Form : |
Private Limited Liability company |
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|
|
|
Line of Business : |
Manufacturer and Exporter of Full Shoes, Shoes Upper. |
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|
|
|
No of Employees : |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (29) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 1500000 |
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|
Status : |
Moderate |
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Payment Behaviour : |
Slow but Correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate track. Profitability
of the company appears to be low. However trade relations are reported as
fair. Business is active. Payments are reported to be slow but correct. The company can be considered for small to mediocre 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 – September 30, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
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High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
|
Off-credit |
D |
LOCATIONS
|
Registered Office / Head office : |
|
|
Tel. No.: |
91-44-25385658 / 25361634 / 25368906/ 25615034/ 25615658 |
|
Fax No.: |
91-44-25366187/ 25366187/ 25615187 |
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E-Mail : |
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Website: |
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|
Area : |
5000 Sq.ft. |
|
Location: |
Owned |
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|
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|
Factory : |
No. 7. MGR Nedunchalai, Nagalkeni, Chrompet, Chennai – 600
044, |
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Tel. No.: |
91-44-22510530/37 |
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Fax No.: |
91-44-22388988 |
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E-mail : |
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Area : |
20,000 sq.fts. |
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Location: |
Owned |
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Godown : |
8 - Anna Salai, Pammal, Chennai-600044, |
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Tel. No.: |
91-44-22210378 |
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Fax No.: |
91-44-22369008/25366182 |
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Area: |
5000 Sq.ft. (approximately) |
|
Location: |
Rented |
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|
|
|
Head Office : |
50, |
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Tel. No.: |
91-44-25615658 / 25615034 / 25615906 |
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Fax No.: |
91-44-25615187 |
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E-Mail : |
DIRECTORS
As on 30.09.2010
|
Name : |
Mr. Muhamed Yavar Dhala |
|
Designation : |
Managing Director |
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Address : |
No.4/32, |
|
Date of Birth/Age : |
26.09.1967 |
|
Date of Appointment : |
05.10.1996 |
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Tel No: |
91-44-24480767 |
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DIN No.: |
00640494 |
Other Directorship
|
S.No. |
CIN |
Name
of the Company |
Current
designation of the director |
Date
of appointment at current designation |
Original
date of appointment |
Date
of cessation |
Company
Status |
Defaulting
status |
|
1 |
U19201TN1994PTC026984 |
Forward Shoes ( |
Director |
08-03-94 |
08-03-94 |
- |
Active |
NO |
|
2 |
U19119TN2004PTC052548 |
Conceria
Virginia Chennai Private Limited |
Managing
director |
17-02-04 |
17-02-04 |
- |
Active |
NO |
|
3 |
U91110TN2004PTC053638 |
Consortium of Shoe
Manufacturers Private Limited |
Director |
05-07-04 |
05-07-04 |
- |
Active |
NO |
|
4 |
U18209TN1989PLC017931 |
Pallavaram
Tanners Industrial Effluent Treatment Company Limited |
Director |
22-05-06 |
22-05-06 |
- |
Active |
NO |
|
5 |
U19201TN2008PLC066386 |
Pavers England
Limited |
Director |
20-02-10 |
11-02-08 |
- |
Active |
NO |
|
Name : |
Mr. Asgar Ali Dhala |
|
Designation : |
Chairman cum Managing Director |
|
Address : |
No.19, |
|
Date of Birth/Age : |
03.06.1939 |
|
Date of Appointment : |
05.10.1996 |
|
DIN No.: |
00642067 |
Other Directorship
|
S.No. |
CIN |
Name
of the Company |
Current
designation of the director |
Date
of appointment at current designation |
Original
date of appointment |
Date
of cessation |
Company
Status |
Defaulting
status |
|
1 |
U19201TN1994PTC026984 |
Forward Shoes ( |
Managing
director |
08-03-94 |
08-03-94 |
- |
Active |
NO |
|
2 |
U19119TN2004PTC052548 |
Conceria
Virginia Chennai Private Limited |
Director |
17-02-04 |
17-02-04 |
- |
Active |
NO |
|
3 |
U74999TN1910NPL002343 |
|
Director |
17-09-07 |
17-09-07 |
- |
Active |
NO |
|
Name : |
Mrs. Zubeida Asgar Ali Dhala |
|
Designation : |
Director |
|
Address : |
No.19, |
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Date of Birth/Age : |
23.05.1940 |
|
Date of Appointment : |
08.03.1994 |
|
DIN No.: |
01736488 |
Other Directorship
|
S.No. |
CIN |
Name
of the Company |
Current
designation of the director |
Date
of appointment at current designation |
Original
date of appointment |
Date
of cessation |
Company
Status |
Defaulting
status |
|
1 |
U19201TN1994PTC026984 |
Forward Shoes ( |
Director |
08-03-94 |
08-03-94 |
- |
Active |
NO |
|
2 |
U70101TN1984PTC010588 |
Parpia
International India Private Limited |
Alternate
director |
08-08-07 |
08-08-07 |
- |
Active |
NO |
|
Name : |
Mrs. Reihaneh Yavar Dhala |
|
Designation : |
Director |
|
Address : |
No.4/32, |
|
Date of Birth/Age : |
27.01.1970 |
|
Date of Appointment : |
08.03.1994 |
|
DIN No.: |
01736499 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2010
|
Names of Shareholders |
|
No. of Shares |
|
Asgar Ali Dhala |
|
5110000 |
|
Muhamed Yavar Dhala |
|
1295000 |
|
Zubeida Ali Dhala |
|
1120000 |
|
Rehane Yavar Dhala |
|
60000 |
|
Total |
|
7585000 |
List of Allotees
|
Names of Shareholders |
|
No. of Shares |
|
Asgar Ali Dhala |
|
3500000 |
|
Muhamed Yavar Dhala |
|
3500000 |
|
Total |
|
7000000 |
Equity Share Break up (Percentage of Total Equity)
As on 30.09.2010
|
Category |
|
Percentage of Holding |
|
Directors
or relatives of directors |
|
100.00 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Full Shoes, Shoes Upper. |
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Products : |
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GENERAL INFORMATION
|
Customers : |
·
Airborne Footwear Limited ·
Crew Clothing Company, ·
DSW Inc. ·
Wolver Line Europe Limited, ·
BATA India Limited ·
Pantaloon Retail India Limited ·
Reliance Foot Print Limited ·
Pond’s Exports Limited ·
N.S.W. Leather Company Private
Limited, |
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No. of Employees : |
Not Available |
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Bankers : |
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Facilities : |
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Banking
Relations : |
-- |
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Financial Institutions : |
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Auditors : |
U. M. Kalilullah and Company Chartered Accountants |
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Name : |
15, XII, Cross Indira Nagar, Chennai-600 020, |
|
Address : |
91-44-24913533/24912571 |
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PAN No.: |
AABFU5181F |
CAPITAL STRUCTURE
After on
30.09.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
15000000 |
Equity Shares |
Rs.10/- Each |
Rs.150.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
14585000 |
Equity Shares |
Rs.10/- Each |
Rs.145.850
Millions |
As on 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
10000000 |
Equity Shares |
Rs.10/- Each |
Rs.100.000 millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
7585000 |
Equity Shares |
Rs.10/- Each |
Rs.75.850
millions |
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 |
75.850 |
75.850 |
73.000 |
|
|
2] Share Application Money |
0.950 |
0.950 |
0.300 |
|
|
3] Reserves & Surplus |
306.556 |
306.344 |
46.345 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
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NETWORTH |
383.356 |
383.144 |
119.645 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
441.373 |
359.417 |
298.432 |
|
|
2] Unsecured Loans |
2.536 |
2.536 |
3.561 |
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TOTAL BORROWING |
443.909 |
361.953 |
301.993 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
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|
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|
|
|
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TOTAL |
827.265 |
745.097 |
421.638 |
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|
|
|
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APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
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FIXED ASSETS [Net Block] |
575.625 |
607.063 |
324.473 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.339 |
0.339 |
0.339 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
0.000
|
0.000 |
15.189 |
|
|
Sundry Debtors |
0.000
|
0.000
|
83.937 |
|
|
Cash & Bank Balances |
1.998
|
0.000
|
1.480 |
|
|
Other Current Assets |
308.345
|
285.794
|
145.005 |
|
|
Loans & Advances |
103.495
|
71.184
|
60.324 |
|
Total
Current Assets |
413.838
|
356.978
|
305.935 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
145.043
|
207.484
|
200.492 |
|
|
Other Current Liabilities |
0.607 |
0.393 |
0.723 |
|
|
Provisions |
16.887
|
11.406
|
7.894 |
|
Total
Current Liabilities |
162.537
|
219.283
|
209.109 |
|
|
Net Current Assets |
251.301
|
137.695
|
96.826 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.00 |
|
|
|
|
|
|
|
|
TOTAL |
827.265 |
745.097 |
421.638 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
680.669 |
664.029 |
576.633 |
|
|
|
Other Income |
83.356 |
81.173 |
65.218 |
|
|
|
TOTAL (A) |
764.025 |
745.202 |
641.851 |
|
|
|
|
|
|
|
|
|
EXPENSES |
|
|
|
|
|
|
|
TOTAL (B) |
675.782 |
659.178 |
623.989 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
71.647 |
73.500 |
54.190 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
35.968 |
34.377 |
25.940 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
35.679 |
39.123 |
28.241 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
34.488 |
37.728 |
20.701 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
1.191 |
0.861 |
7.540 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
0.357 |
0.262 |
1.447 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
0.834 |
0.599 |
6.093 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
516.203 |
524.997 |
524.997 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
0.11 |
0.08 |
83.47 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
0.11
|
0.12
|
0.95 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
0.17
|
0.13
|
1.31 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.12
|
0.09
|
1.20 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.00
|
0.00
|
0.06 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.58
|
1.52
|
4.27 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.55
|
1.63
|
1.46 |
LOCAL AGENCY FURTHER INFORMATION
GENERAL
PERFORMANCE:
Leather Industry particularly in Footwear business, during the last
financial year the global Scenario was not encouraging due to recession prevailed
world wide. The Global market had been very competitive and they faced severe
competition from some of our neighboring countries. Their company by its strong
commitment to focus on quality unable to maintain goodwill of their buyers and
in the process they were able to achieve a turnover of Rs.680.669 Millions
registering an increase of 2.50% when compared to Rs.664.029 Millions, increase
of about 84% in the Domestic turnover over the previous year. In the existing
scenario this is a moderate performance.
FORM 8:
|
Corporate identity number of the company |
U19201TN1994PTC026984 |
|
Name of the company |
FORWARD SHOES ( |
|
Address of the registered office or of the principal place of business in |
E-Mail : forward@vsnl.com
|
|
This form is for |
Modification of charge |
|
Charge identification (ID) number of the charge to be modified |
90290344 |
|
Type of charge |
Immovable property Book debts Movable property (not being pledge) Others (Hypothecation) |
|
Particular of charge holder |
State Bank of India, Leather and International Branch, MVJ Towers, 177/1,
P. H. Road, Kilpauk, Chennai – 600010, Tamil Nadu, India E-mail : dgm.07024@sbi.co.in |
|
Nature of instrument creating charge |
1. Supplemental Agreement of Loan for Increase in the overall limit. 2) Supplemental Agreement of Hypothecation of Goods and Assets for
Increase in the Overall limit. 3) Letter regarding the grant individual limits within the overall
limit. 4) Hypothecation Letter in
respect of Machines accepted as collateral security for advances. 5) Omnibus Counter Guarantee. 6) EM Letters |
|
Date of instrument Creating the charge |
29.01.2011 |
|
Amount secured by the charge |
Rs.529.100 Millions |
|
Brief of the principal terms an conditions and extent and operation of
the charge |
Rate of interest Rate of interest details as per attachment. Terms of repayment As per Agreement Margin Raw Materials : 10% Stock-in-process : 10% Finished Goods : 10% LC / BG : 10% Extent and operation of the charge Exclusive first charge on the current assets, movable assets and
immovable properties of the company to the extent of Rs.52.91 Crores. Others Personal Guarantee of all the directors of the company. 1) Mr.Asgar Ali Dhala 2) Mr.Md Yavar Dhala 3) Mrs.Zubieda Asgar Ali Dhala 4) Mrs.Rehane Yavar Dhala |
|
Short particulars of the property or asset(s) charged (including
complete address and location of the property) |
Primary Security
: EPC : Hypothecation charge over the entire current assets, which include
Raw Materials, Stock-in-process, Finished Goods, Consumables, Stores, Spares,
Receivables etc., FDB (Non-LC) and FDB (LC) : Documents of title to goods and extension
of charge over the entire current assets. LC : Documents of title to goods and extension of charge over the
entire current assets. BG : Extension of charge over the entire current assets. Term Loan (i) : Hypothecation of fixed assets purchased out of our bank finance. (ii) : Lead measuring 9.23 acres located at R.S.No.181/1 in Pammal
village and the building thereon. Collateral
Security:- (i)
EM over Leasehold rights of Forward Shoes (India)
Private Limited on the factory land admeasuring 2.81 acres (122403 sq ft) at
S.No.96/2, situated at Pammal Village, Door No.2, MGR Nedunchalai,Nagelkeni,
hormepet, Chennai along with the building thereon. (ii)
(ii) Extension of EM over the Land Measuring 9.23
acres at R.S.No.181/1, Part along with building thereon at Door No.7, Adam
Nagar Main Road, Pammal, Chennai - 600 044, as security to secure the limit
of Rs.529.100 Millions Hypothecation of Movable fixed assets belonging to Forward Shoes ( |
|
Date of instrument modifying the charge |
25.01.2007 |
|
Particulars of the present modification |
The various credit facilities enjoyed by the company now has been
enhanced to Rs.529.100 Millions. |
FIXED
ASSETS:
·
·
Plant and Machinery and Generators
·
Furniture and Fittings
·
Vehicle
·
Office Equipments
·
Computers
·
Air conditioners
·
New Project
WEBSITE DETAILS:
GROUP PROFILE
Forward group – a vertically integrated group
of companies comprising of Tanneries, Shoe upper and Shoe manufacturing plants and
a Sole manufacturing unit, is a professionally managed group with inherent
modernity, technological excellence and sound ethics.
From modest beginnings as a EI tannery,
decades of hard work has expanded its operations to master the art of tanning,
designing and shoe making in pace with evolving trends – and the group is
registering an impressive growth year after year.
Elegant range of cow and goat leathers, shoes
of impeccable quality and finesse and soles of international quality, have led
the company win several awards and merits, while the company constantly
endeavors to exceed the customer’s expectations.
All the tanneries are eco friendly and
certified by LWG Environment Audit,
Predominantly a men’s shoe manufacturer, the
product range comprises of Men's Formal, Classic, Moccasins, Brogues and has an
extended range of Casual shoes, and Semi Formal shoes – in flat lasted and
Strobel construction.
A joint venture between Forward Group and
Malaspina spa
The company cares for the welfare of its
employees and has various schemes in place for its 3500 employees and is also
into a lot of community endeavors.
For a company that has crossed many milestones
- the Forward Group is ever motivated to provide quality products and solutions
every time to its discerning customers.
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.50.28 |
|
|
1 |
Rs.80.08 |
|
Euro |
1 |
Rs.68.45 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
29 |
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.