MIRA
INFORM REPORT
|
Report Date : |
19.09.2011 |
IDENTIFICATION DETAILS
|
Name : |
JEWELEX INDIA PRIVATE LIMITED PART IX |
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Formerly Known As : |
JEWELEX BOMBAY PRIVATE LIMITED |
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Registered Office : |
124 / C, Mittal Court, Nariman Point, Mumbai – 400021, |
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Country : |
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Financials (as on) : |
31.03.2010 |
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Date of Incorporation : |
01.10.2004 |
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Com. Reg. No.: |
11-71263 |
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Capital Investment
/ Paid-up Capital : |
Rs.500.000 Millions |
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CIN No.: [Company Identification No.] |
U36910MH2004PTC148938 |
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TAN No.: [Tax Deduction & Collection Account No.] |
MUMJ11921A |
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PAN No.: [Permanent Account No.] |
AABCJ4523H |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturers and Exporters of all kinds of diamond studded gold
Jewellery. |
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No. of Employees
: |
About 2000
(Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (50) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 11000000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is an well established company having satisfactory track. Directors
are reported to be experienced and respectable businessmen. Trade relations are reported as fair. Business is active. 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 terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – April 1, 2010
|
Country Name |
Previous Rating (31.12.2009) |
Current Rating (01.04.2010) |
|
|
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
LOCATIONS
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Registered Office : |
124 / C, Mittal Court, Nariman Point, Mumbai - 400021, |
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Tel. No.: |
91-22-22811454/22811486 |
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E-Mail : |
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Corporate
Office : |
Plot No. 56-B,
First Floor, Seepz, Andheri [East], Mumbai – 400096, |
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Tel. No.: |
91-22-66938505/
8510/ 28291686/ 28290699 |
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Fax No.: |
91-22-66938506/
28290460 |
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E-Mail : |
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Head Office /
Factory 1: |
G-29, G and J Complex III, Seepz, Andheri (East), Mumbai –
400096, Maharashtra, India |
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Tel. No.: |
91-22-66938500 /
8501 / 8502/ 28290700/ 28291686/ 0699 |
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Fax No.: |
91-22-28290460 |
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E-Mail : |
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Factory 2 : |
Unit III, G – 33,
G and J Complex No. III, Seepz, Andheri [East], Mumbai – 400096, |
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Tel. No.: |
91-22-66938500/
56938502 |
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Fax No.: |
91-22-28290460 |
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E-Mail : |
DIRECTORS
As on :
27.09.2010
|
Name : |
Mr. Nilesh P. Kothari |
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Designation : |
Director |
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Address : |
111B, Atlas Apartments, |
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Date of Birth/Age : |
11.02.1961 |
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Date of Appointment : |
01.10.2004 |
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Din No.: |
00093751 |
|
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 |
|
U52393GJ1991PTC057590 |
Jewelex
Manufacturing Private Limited |
Director |
22-06-91 |
22-06-91 |
21-01-08 |
Active |
NO |
|
U45200MH1983PTC030851 |
Kothari
Properties Private Limited |
Director |
01-02-99 |
01-02-99 |
- |
Dormant |
NO |
|
U99999MH2000PTC124713 |
Jewelex
International Private Limited |
Director |
07-03-00 |
07-03-00 |
01-11-09 |
Active |
NO |
|
U36910MH2004PTC148938 |
Jewelex
India Private Limited Part IX |
Director |
01-10-04 |
01-10-04 |
- |
Active |
NO |
|
U36911MH2000PTC129663 |
Zenstar
Jewellery Private Limited |
Director |
17-02-05 |
17-02-05 |
25-01-08 |
Converted
to LLP and dissolved |
NO |
|
Name : |
Mr. Anish P
Kothari |
|
Designation : |
Director |
|
Address : |
102, Elcid, 13 –
A, |
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Date of Birth/Age : |
19.11.1965 |
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Date of Appointment : |
01.10.2004 |
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Din No.: |
00093706 |
|
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 |
|
U52393GJ1991PTC057590 |
Jewelex
Manufacturing Private Limited |
Director |
22-06-91 |
22-06-91 |
01-03-10 |
Active |
NO |
|
U45200MH1983PTC030851 |
Kothari
Properties Private Limited |
Director |
01-02-99 |
01-02-99 |
- |
Dormant |
NO |
|
U36910MH2004PTC148938 |
Jewelex
India Private Limited Part IX |
Director |
01-10-04 |
01-10-04 |
- |
Active |
NO |
|
U45201MH2007PTC173573 |
Grandiose
Infrastructure Venture Enterprises Private Limited |
Director |
29-07-08 |
24-07-08 |
- |
Active |
NO |
|
U74999MH2008PTC185390 |
Grandiose
Ferrum Private Limited |
Additional
director |
08-09-08 |
08-09-08 |
- |
Active |
|
Name : |
Mr. Ashish S. Kothari |
|
Designation : |
Director |
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Address : |
705, Mangal Kunj – B, |
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Date of Birth/Age : |
21.05.1973 |
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Date of Appointment : |
10.05.2005 |
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Din No : |
00093839 |
|
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 |
|
U36910MH2004PTC148938 |
Jewelex
India Private Limited Part IX |
Director |
10-05-05 |
10-05-05 |
- |
Active |
NO |
|
U36911MH2008PTC180990 |
Opulence
Creations Private Limited |
Director |
09-04-08 |
09-04-08 |
01-07-10 |
Active |
NO |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on :
30.09.2010
|
Names Of Shareholders |
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No. of Shares |
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Piyush S Kothari |
|
500000 |
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Nilesh P Kothari |
|
4825000 |
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Anish P Kothari |
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4825000 |
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Saryu P Kothari |
|
7250000 |
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Chandra P Kothari |
|
4500000 |
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Pravin S. Kothari |
|
500000 |
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Nisha N Kothari |
|
2425000 |
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Gopika A Kothari |
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2425000 |
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D J Finance Limited, Mauritius |
|
4500000 |
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Shantaben Shantilal Kothari, India |
|
15000000 |
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Ashish Piyush Kothari |
|
825000 |
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Toral Ashish Kothari |
|
2425000 |
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Total |
|
50000000 |
Equity share
breakup (Percentage of total equity)
As on :
30.09.2010
|
Category |
Percentage |
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Bodies corporate (not mentioned above) |
9.00 |
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Directors or relatives of directors |
91.00 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturers and Exporters of all kinds of diamond
studded gold jewellery. |
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Products : |
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GENERAL
INFORMATION
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No. of Employees : |
About 2000
(Approximately) |
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Bankers : |
Overseas Branch, Earnest House, Nariman
Point, Mumbai 400 021
Brady House, 14,
Overseas Branch, Union Bhavan, Ground Floor,
239, Vidhan Bhavan Marg, Nariman Point, Mumbai 400 021
International Business Branch, General
Bhonsale Marg, Nariman Point, Mumbai 400 021
Overseas Branch,
Mittal Court, C Wing, 16th Floor, Naniman Point, Mumbai 400 021
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Facilities : |
Notes : Includes
Facilities in Foreign Currency - Rs.31.437 millions (Previous year -
Rs.41.560 millions) Working Capital facilities are secured by hypothecation
of all Current Assets including stocks and book debts, wind mills and all its
related equipments, land, equitable mortgage by deposit of title deeds of
office and factory premises except property situated at Dahisar and Bandra
Kurla Complex, lien on amount paid to Bharat Diamond Bourse and guaranteed by
all directors.
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Banking Relations : |
---- |
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Auditors : |
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Name : |
M. M. Nissim and
Company Chartered
Accountants, |
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Address: |
Barodawala
Mansion, B – Wing, 3rd Floor, 81, Dr. Annie Besant Road, Worli, Mumbai
– 400018, Maharashtra, India |
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Tel. No.: |
91-22-24949991 |
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Fax No.: |
91-22-24949995 |
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Subsidiaries : |
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Associates : |
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CAPITAL STRUCTURE
As on : 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5,00,00,000 |
Equity Shares |
Rs. 10/- each |
Rs.500.000 Millions |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
|
|
5,00,00,000 |
Equity Shares |
Rs. 10/- each |
Rs.500.000 Millions |
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|
Note – of the above 4,50,00,000 equity shares of RS.
10/- each were issue as fully paid-up Bonus shares by Capitalization of General
Reserve)
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2010 |
31.03.2010 |
31.03.2008 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
500.000 |
500.000 |
500.000 |
|
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
2210.654 |
1766.161 |
1684.423 |
|
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
2710.654 |
2266.161 |
2184.423 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
1449.361 |
2569.794 |
2965.314 |
|
|
2] Unsecured Loans |
1015.300 |
759.900 |
250.000 |
|
|
TOTAL BORROWING |
2464.661 |
3329.694 |
3215.314 |
|
|
DEFERRED TAX LIABILITIES |
6.209 |
13.388 |
23.237 |
|
|
|
|
|
|
|
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TOTAL |
5181.524 |
5609.243 |
5422.974 |
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|
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APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
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FIXED ASSETS [Net Block] |
664.291 |
710.283 |
276.734 |
|
|
Capital work-in-progress |
88.762 |
80.220 |
338.159 |
|
|
|
|
|
|
|
|
INVESTMENT |
19.433 |
19.433 |
19.399 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
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|
Inventories |
2881.921 |
2920.367 |
2676.886 |
|
|
Sundry Debtors |
2288.889 |
1687.599 |
2735.672 |
|
|
Cash & Bank Balances |
167.058 |
191.602 |
174.913 |
|
|
Other Current Assets |
0.000 |
0.000 |
0.000 |
|
|
Loans & Advances |
646.117 |
768.937 |
353.311 |
|
Total Current Assets |
5983.985 |
5568.505 |
5940.782 |
|
|
Less
: CURRENT LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Current Liabilities |
1509.499 |
754.033 |
1038.150 |
|
|
Provisions |
65.448 |
15.165 |
113.950 |
|
Total Current Liabilities |
1574.947 |
769.198 |
1152.100 |
|
|
Net Current Assets |
4409.038 |
4799.307 |
4788.682 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
5181.524 |
5609.243 |
5422.974 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Sales |
9561.196 |
6666.328 |
8466.150 |
|
|
|
Income from Renewable Energy |
14.706 |
22.607 |
11.661 |
|
|
|
Re-Make Charges |
0.574 |
1.659 |
1.699 |
|
|
|
Exchange Rate Differences (Net) |
176.721 |
(575.362) |
105.457 |
|
|
|
Other Income |
19.992 |
19.828 |
8.222 |
|
|
|
TOTAL (A) |
9773.189 |
6135.060 |
8593.189 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Raw Materials Consumed |
4639.279 |
3709.435 |
4557.729 |
|
|
|
Purchase of Polished Diamonds |
3053.613 |
1662.255 |
2766.750 |
|
|
|
Manufacturing and Other Expenses
|
692.095 |
828.753 |
672.923 |
|
|
|
Increase in Stock |
728.577 |
(436.371) |
(132.618) |
|
|
|
TOTAL (B) |
9113.564 |
5764.072 |
7864.780 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
659.625 |
370.988 |
728.409 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
113.537 |
231.369 |
259.277 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
546.088 |
139.619 |
469.132 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
76.514 |
67.968 |
60.717 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
469.574 |
71.651 |
408.415 |
|
|
|
|
|
|
|
|
|
Less |
TAX (I) |
(4.638) |
(10.086) |
28.572 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-I) (J) |
472.212 |
81.737 |
379.843 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
924.661 |
849.923 |
565.577 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
12.000 |
7.000 |
37.000 |
|
|
|
Dividend |
2.719 |
0.000 |
8.497 |
|
|
|
Tax on Dividend |
25.000 |
0.000 |
50.000 |
|
|
BALANCE CARRIED
TO THE B/S |
1357.154 |
924.661 |
849.923 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
82.332 |
62.328 |
78.839 |
|
|
TOTAL EARNINGS |
82.332 |
62.328 |
78.839 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Polished Diamonds |
15.628 |
4.905 |
1.699 |
|
|
|
Raw Materials |
51.236 |
32.707 |
43.802 |
|
|
|
Stores and Spares |
0.108 |
0.149 |
0.135 |
|
|
|
Capital Goods |
0.088 |
0.275 |
0.033 |
|
|
TOTAL IMPORTS |
67.060 |
38.036 |
45.669 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
9.44 |
1.63 |
7.59 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
4.80 |
1.16 |
4.38
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
4.95 |
1.07 |
4.75
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
7.06 |
1.14 |
6.21
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.17 |
3.16 |
0.18
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.41 |
1.80 |
1.99
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
3.86 |
7.23 |
5.15
|
LOCAL AGENCY FURTHER INFORMATION
OPERATIONS:
During
the year, the company performed well. The Total Income was Rs. 9773.191
millions as against Rs. 6571.432 millions for the previous year. The after tax profit
was Rs. 472.212 millions against Rs. 81.738 millions for the previous year.
SUBSIDIARIES:
The
Company has two subsidiary Companies namely M/s. Jewelex International Private Limited
holding therein 90,000 Equity Shares representing 60% of the of the Paid up
Share Capital of the Company and M/s. Opulence Creations Private Limited
holding therein 13350 Equity Shares representing 53.40% of the Paid up Share
Capital of the Company.
Subject was
incorporated on 22nd March, 1993 the name and style ‘Jewelex Bombay
Private Limited’. The name was changed to the present w.e.f. 15.09.2004.
FIXED ASSETS
- Building [Leasehold]
- Plant and Machinery
- Electrical Fittings
- Furniture & Fixtures
- Office Equipments
- Computers
- Vehicles
FORM 8
|
Corporate identity number of the company |
U36910MH2004PTC148938 |
|
Name of the company |
JEWELEX INDIA PRIVATE LIMITED PART IX |
|
Address of the registered office or of the
principal place of business in |
124/C, Mittal Court, Nariman point,
Mumbai - 400021, Maharashtra India |
|
This form is for |
Modification of charge |
|
Type of charge |
Immovable property Book debts Movable property (not being pledge) Floating charge |
|
Particular of charge holder |
Corporation Bank, Mumbai Overseas Branch,
1st Floor, Earnest House, Nariman Point, MUMBAI – 400021, Maharashtra, India |
|
Nature of instrument creating charge |
a) Supplemental Joint Deed of
Hypothecation ; b) Supplemental Working Capital Consortium
Agreement ; c) Joint Inter Se Agreement ; and d) Memorandum of Deposit of Title Deeds. (Collectively constitute a single charge
for Rs.4485.000 millions). |
|
Date of instrument Creating the charge |
17/06/2011 |
|
Amount secured by the charge |
Rs. 4485.000 millions |
|
Brief of the principal terms an conditions
and extent and operation of the charge |
Rate
of interest Interest shall be charged on the
outstanding in the said account(s) at such rate or rates as may be determined
by the said Banks from time to time. Terms
of repayment On Demand Margin As may be stipulated by each of the Member
Banks from time to time. Extent
and operation of the charge a) Hypothecation of Assets of the Company as specified in Item
No. 15 as a Continuing security for the due repayment of following Credit Facilities ; and b) The Company accorded and gave oral
consent to Corporation Bank (CB), CB acting for itself as well as agent of
other member banks to continue to hold and retain the title deeds (by way of
Constructive delivery) in respect of its immovable properties as mentioned
under Item No 15 Other
The charge created herein shall rank pari
passu inter se the Banks for all purposes and to all intents without any
preference of one over the other or others |
|
Short particulars of the property charged
(Including location of the property) |
The Whole of the Current Assets of the
Borrower namely, Stocks of Raw Materials, Stocks in process, Semi-Finished
and Finished Goods, Stores and Spares Hypothecation of movable fixed assets
(existing and future) of both units of the Company (other than vehicles) with
a net block of Rs.21.18 Crores as on 31.03.2010 Premises No.605 situated at 6th Floor, Aman
Chambers, Aman Chambers Premises Co-Operative Society Ltd., 113, Mama
Parmanand Marg, (formerly Queen's Road), Mumbai-400 004 Premises No.123, 124, 125 on 12th floor of
"C" Wing, of Mittal Court Building situated at Nariman Point,
Mumbai Premises (Gala/Unit) No.13, Prabhaevi
Industrial Estate on 2nd Floor situated at Veer Savarkar Marg, Prabhadevi,
Mumbai - 400 025 Office Premises No.602, admg. 77.7
sq.mtrs. on the 6th floor, in the building known as "Aman Chambers"
of Aman Chambers Premises Co-Operative Society Ltd Building situated on the Plot No.56B Unit
No.11 at Seepz, Andheri (E) within the Village Limits of Vyarawali, Parjapur,
Kondivita, Marol Taluka, Andheri Dist.
Mumbai Office premises bearing No. HE7010 admg. 6719
sq.ft. Carpet area equivalenet to 9598 sq.ft. saleable/built up are in H
Tower, East Wing, 7th floor and 8 numbers of |
|
Date of instrument modifying the charge |
14/01/2008 |
|
Particulars of the present modification |
The Consortium charge shall now stands modified/revised upto Rs.4485.000
millions in favour of the members of Corporation Bank Consortium. |
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. 47.79 |
|
|
1 |
Rs. 75.05 |
|
Euro |
1 |
Rs. 65.35 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
8 |
|
--PROFITABILIRY |
1~10 |
8 |
|
--LIQUIDITY |
1~10 |
8 |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
62 |
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.