MIRA
INFORM REPORT
|
Report Date : |
10.08.2012 |
IDENTIFICATION DETAILS
|
Name : |
RELIANCE FRESH LIMITED (w.e.f. 18.01.2008) |
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Formerly Known
As : |
RANGER FARMS LIMITED (w.e.f. 10.02.2007) RANGER FARMS PRIVATE LIMITED |
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Registered
Office : |
3rd Floor, Court House,, Lokmanya Tilak Marg , Dhobi Talao, Mumbai - 400002, Maharashtra |
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Country : |
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Financials (as
on) : |
31.03.2011 |
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Date of
Incorporation : |
29.06.1999 |
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Com. Reg. No.: |
11-120563 |
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Capital
Investment / Paid-up Capital : |
Rs.10.500 Millions |
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CIN No.: [Company Identification
No.] |
U01100MH1999PLC120563 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
MUMR19954E |
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PAN No.: [Permanent Account No.] |
AABCR1718E |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Departmental Stores |
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No. of Employees
: |
5000 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (29) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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Payment Behaviour : |
Slow |
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Litigation : |
Clear |
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Comments : |
Subject is a part of Reliance Group a well known and a reputed
industrial house in the country. There appears to be huge accumulated losses
recorded by the company. Business is active. Payments are reported to be
slow. In view of strong promoters, the company can be considered normal for
business dealings at usual trade terms and conditions, with slight caution. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
INFORMATION DECLINED
Management Non- Co-Operative (91-22-44771347)
LOCATIONS
|
Registered Office : |
3rd Floor, Court House,, Lokmanya Tilak Marg , Dhobi Talao, Mumbai - 400002, Maharashtra, India |
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Tel. No.: |
91-22-44770000 |
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Fax No.: |
91-22-44771882 |
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E-Mail : |
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Corporate Office : |
9th Floor, Maker Chambers IV, 222, Nariman Point, Mumbai –
400021, |
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Tel. No.: |
91-22-44772522 |
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Fax No.: |
91-22-22785211 |
DIRECTORS
As on 31.12.2011
|
Name : |
Mr. Pankaj Mohan Pawar |
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Designation : |
Whole Time Director |
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Address : |
302, Archana, Surabh, Plot No.20, Sector 7, Koparkhairne, Navi Mumbai – 400709, Maharashtra, India |
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Date of Birth/Age : |
14.07.1972 |
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Date of Appointment : |
01.04.2012 |
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DIN No.: |
00085077 |
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Name : |
Mr. Madhavan Ganesan |
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Designation : |
Whole Time Director |
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Address : |
Lake View Developers, Flat No. 901, Tower Odyssey , Hiranandani Gardens, Powai, Mumbai – 400 076, Maharashtra, India |
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Date of Birth/Age : |
07.09.1964 |
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Date of Appointment : |
01.04.2012 |
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DIN No.: |
01674529 |
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Name : |
Mr. Bijaya Kumar Sahoo |
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Designation : |
Director |
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Address : |
47/A, 4th Floor, Hill Park, A G Bell Marg, Malabar Hills, Mumbai – 400 006, Maharashtra, India |
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Date of Birth/Age : |
08.05.1966 |
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Date of Appointment : |
30.09.2008 |
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DIN No.: |
01931278 |
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DIN No.: |
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KEY EXECUTIVES
|
Name : |
Dhoundiyal Atma and Associates |
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Designation : |
Company Secretary |
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Address : |
B-11, 2nd Floor, Satyam, M G Road, Ghatkopar (E), Mumbai - 400 077, Maharashtra, India |
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Tel. No.: |
91-22-21028309 / 21027884 |
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Mobile : |
91-9820328645 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 31.12.2011
|
Names of Shareholders |
|
No. of Shares |
|
Reliance Retail Limited, India |
|
1049994 |
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Rajendra Madhav Kamath Jointly With Reliance Retail Limited, India |
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1 |
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Sudhakar Saraswatula Jointly With Reliance Retail Limited, India |
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1 |
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Sridhar Kothandaranman With Reliance Retail Limited , India |
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1 |
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Pankaj Mohan Pawar Jointly With Reliance Retail Limited, India |
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1 |
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Madhavan Ganesan jointly with Reliance Retail Limited, India |
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1 |
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A Ramaswamy jointly with Reliance Retail Limited, India |
|
1 |
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Total |
|
1050000 |
As on 31.12.2011
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
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Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Departmental Stores |
GENERAL INFORMATION
|
Customers : |
· Delight Proteins Limited · Reliance Autozone Limited · Reliance Agri Product Distributions Limited · Reliance Corporate IT Park Limited · Reliance-GrandVision India Private Limited · Reliance Home Products Limited · Reliance Hypermart Limited · Reliance Jamnagar industrial Limited · Reliance Leisures Limited · Reliance Retail Limited · Reliancedigital Retail Limited · Reliance Trends Limited · Reliance-Vision Express Private Limited ·
Retail Concepts and Services (India) Limited |
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No. of Employees : |
5000 (Approximately) |
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Bankers : |
HDFC Bank, HDFC Bank House, Senapati Bapat Marg, Lower Parel (West),
Mumbai-400013, |
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Facilities : |
(Rs.
In Millions)
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Chaturvedi and Shah Chartered Accountants |
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Address : |
714/715, Tulsiani Chambers, 212, Nariman Point, Mumbai – 400 021, |
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PAN.: |
AAAFC0662N |
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Name : |
S. V. Ghatalia and Associates Chartered Accountants |
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Address : |
16th Floor, The Ruby, 29, Senapati Bapat Marg, Dadar (West), Mumbai 400028, Maharashtra, India |
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PAN.: |
AACFS6921Q |
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Ultimate Holding
Company: |
Reliance Industries Limited |
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Holding Company : |
Reliance Retail Limited |
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Subsidiaries Company : |
· Delight Proteins Limited · LPG Infrastructure India Limited · Reliance Agri Products Distribution Limited (From 20th October, 2010) · Reliance F and B Services Limited · Reliance Food Processing Solutions Limited (From 20th October, 2010) · Reliance Gems and Jewels Limited (From 20th October, 2010) · Reliance Home Products Limited (From 1st January, 2011) · Reliance Home Store Limited (From 20th October, 2010) · Reliance Hypermart Limited (From 20th October, 2010) · Reliance Integrated Agri Solutions Limited (From 20th October, 2010) · Reliance Leisures Limited (From 20th October, 2010) · Reliance Lifestyle Holdings Limited (From 20th October, 2010) · Reliance Petro Marketing Limited · Reliance Supply Chain Solutions Limited (From 20th October, 2010) · Reliance Vantage Retail Limited (From 20th October, 2010) · Reliance Wellness Limited (From 20th October, 2010) · Retail Concepts and Services (India) Limited |
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Fellow Subsidiaries
Company : |
· Reliance Agri Products Distribution Limited (upto 19th October, 2010) · Reliance Autozone Limited · Reliance Corporate IT Park Limited · Reliance Dairy Foods Limited · Reliance Digital Media Limited · Reliance Food Processing Solutions Limited (upto 19th October, 2010) · Reliance Footprint Limited · Reliance Gems and Jewels Limited (upto 19th October, 2010) · Reliance Home Store Limited (upto 19th October, 2010) · Reliance Hypermart Limited (upto 19th October, 2010) · Reliance Integrated Agri Solutions Limited (upto 19th October, 2010) · Reliance Leisures Limited (upto 19th October, 2010) · Reliance Lifestyle Holdings Limited (upto 19th October, 2010) · Reliance Loyalty and Analytics Limited · Reliance Polyolefins Limited · Reliance Retail Insurance Broking Limited · Reliance Supply Chain Solutions Limited (upto 19th October, 2010) · Reliance Trade Services Centre Limited · Reliance Trends Limited · Reliance Vantage Retail Limited (upto 19th October, 2010) · Reliance Wellness Limited (upto 19th October, 2010) · Reliance digital Retail Limited · RESQ Limited · Strategic Manpower Solutions Limited |
CAPITAL STRUCTURE
As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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1050000 |
Equity Shares |
Rs.10/- each |
Rs.10.500 Millions |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
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|
1050000 |
Equity Shares |
Rs.10/- each |
Rs.10.500
Millions |
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All the above 10 50 000 (Previous Year 50 000) Equity Shares of Rs. 10 each are held by Reliance Retail Limited, the holding company, along with its nominees.
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
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|
SHAREHOLDERS FUNDS |
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|
|
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1] Share Capital |
10.500 |
0.500 |
0.500 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
0.000 |
0.000 |
0.000 |
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|
4] (Accumulated Losses) |
(10213.300) |
(4119.319) |
(2767.678) |
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NETWORTH |
(10202.800) |
(4118.819) |
(2767.178) |
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LOAN FUNDS |
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1] Secured Loans |
13.400 |
5.893 |
10.925 |
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2] Unsecured Loans |
47573.600 |
21002.895 |
17757.342 |
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TOTAL BORROWING |
47587.000 |
21008.788 |
17768.267 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
37384.200 |
16889.969 |
15001.089 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
23629.300 |
6018.618 |
6072.211 |
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Capital work-in-progress |
3289.700 |
5288.751 |
5393.102 |
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INVESTMENT |
19.100 |
4.900 |
4.900 |
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DEFERREX TAX ASSETS |
4677.400 |
2010.473 |
1191.217 |
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CURRENT ASSETS, LOANS & ADVANCES |
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|
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Inventories |
3237.000
|
2146.706
|
1739.279 |
|
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Sundry Debtors |
295.100
|
522.187
|
553.686 |
|
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Cash & Bank Balances |
144.200
|
179.364
|
73.641 |
|
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Other Current Assets |
0.000
|
0.000
|
0.000 |
|
|
Loans & Advances |
4808.800
|
2105.282
|
1472.066 |
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Total
Current Assets |
8485.100
|
4953.539
|
3838.672 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
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Sundry Creditors |
2631.200
|
1331.294
|
1420.425 |
|
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Other Current Liabilities |
0.000
|
0.040
|
0.000 |
|
|
Provisions |
85.200
|
54.978
|
78.588 |
|
Total
Current Liabilities |
2716.400
|
1386.312
|
1499.013 |
|
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Net Current Assets |
5768.700
|
3567.227
|
2339.659 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
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TOTAL |
37384.200 |
16889.969 |
15001.089 |
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PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
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SALES |
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|
|
|
|
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Income |
28631.000 |
20827.300 |
17778.035 |
|
|
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Other Income |
295.400 |
12.800 |
13.247 |
|
|
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TOTAL (A) |
28926.400 |
20840.100 |
17791.282 |
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|
|
|
|
|
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Less |
EXPENSES |
|
|
|
|
|
|
|
Consumption materials changes inventories |
24400.900 |
18168.700 |
|
|
|
|
Employee related expenses |
1078.300 |
392.800 |
20733.010 |
|
|
|
Administrative selling other expenses |
7163.00 |
3785.800 |
|
|
|
|
TOTAL (B) |
32642.200 |
22347.300 |
20733.010 |
|
|
|
|
|
|
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Less |
PROFIT / (LOSS) BEFORE INTEREST, TAX, DEPRECIATION
AND AMORTISATION (A-B) (C) |
(3715.800) |
(1507.200) |
(2941.728) |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
1.600 |
0.800 |
1.678 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND
AMORTISATION (C-D) (E) |
(3717.400) |
(1508.00) |
(2943.406) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
1106.100 |
662.900 |
596.981 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX (E-F)
(G) |
(4823.500) |
(2170.900) |
(3540.387) |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
(1365.300) |
(819.300) |
(1047.356) |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS) AFTER TAX (G-H) (I) |
(3458.200) |
(1351.600) |
(2493.031) |
|
|
|
|
|
|
|
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|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
(4119.319) |
(2767.678) |
(274.647) |
|
|
|
|
|
|
|
|
|
Add |
Transferred on Demerger |
(2635.800) |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
BALANCE / (LOSS) CARRIED TO THE B/S |
(10213.278) |
(4119.278) |
(2767.678) |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Traded Goods |
NA |
136.740 |
124.107 |
|
|
|
Capital Goods |
NA |
0.141 |
32.333 |
|
|
TOTAL IMPORTS |
NA |
136.881 |
156.440 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
(13536.01) |
(27032.82) |
(49860.62) |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
(11.96)
|
(6.49) |
(14.01)
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
(16.85)
|
(10.42) |
(19.91)
|
|
|
|
|
|
|
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Return on Total Assets (PBT/Total Assets} |
(%) |
(15.02)
|
(19.79) |
(35.72)
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.47
|
0.53 |
(1.28)
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
(4.93)
|
(5.43)
|
(6.96)
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
3.12
|
3.57
|
2.56
|
LOCAL AGENCY FURTHER INFORMATION
DETAILS OF SUNDRY
CREDITORS
(Rs.
In Millions)
|
Particulars |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
Creditors due others |
2631.200
|
1331.294
|
1420.425 |
|
Total |
2631.200
|
1331.294
|
1420.425 |
Note:
(A) The Company has not received the required information from Suppliers regarding their status under the Micro, Small and Medium Enterprises Development Act, 2006. Hence disclosures, if any, relating to amounts unpaid as at the year end together with interest paid/ payable as required under the said Act have not been made.
(B) Includes Rs.39.400 Millions (Previous year Rs.0.400 Millions) payable to Subsidiaries and for capital expenditure Rs.198.500 Millions (Previous year Rs.88.700 Millions)
|
Sr. No. |
Check List by Info
Agents |
Available in Report (Yes / No) |
|
1] |
Year of Establishment |
(Yes) |
|
2] |
Locality of the firm |
(Yes) |
|
3] |
Constitutions of the firm |
(Yes) |
|
4] |
Premises details |
(No) |
|
5] |
Type of Business |
(Yes) |
|
6] |
Line of Business |
(Yes) |
|
7] |
Promoter's background |
(Yes) |
|
8] |
No. of employees |
(Yes) |
|
9] |
Name of person contacted |
(No) |
|
10] |
Designation of contact person |
(No) |
|
11] |
Turnover of firm for last three years |
(Yes) |
|
12] |
Profitability for last three years |
(Yes) |
|
13] |
Reasons for variation <> 20% |
---------------------- |
|
14] |
Estimation for coming financial year |
(No) |
|
15] |
Capital in the business |
(Yes) |
|
16] |
Details of sister concerns |
(Yes) |
|
17] |
Major suppliers |
(No) |
|
18] |
Major customers |
(Yes) |
|
19] |
Payments terms |
(No) |
|
20] |
Export / Import details (if applicable) |
(No) |
|
21] |
Market information |
---------------------- |
|
22] |
Litigations that the firm / promoter involved in |
---------------------- |
|
23] |
Banking Details |
(Yes) |
|
24] |
Banking facility details |
(Yes) |
|
25] |
Conduct of the banking account |
---------------------- |
|
26] |
Buyer visit details |
---------------------- |
|
27] |
Financials, if provided |
(Yes) |
|
28] |
Incorporation details, if applicable |
(Yes) |
|
29] |
Last accounts filed at ROC |
(Yes) |
|
30] |
Major Shareholders, if available |
(Yes) |
|
31] |
Date of Birth of Proprietor/Partner/Director, if available |
(Yes) |
|
32] |
PAN of Proprietor/Partner/Director, if available |
(No) |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
(No) |
|
34] |
External Agency Rating, if available |
(No) |
OPERATIONAL REVIEW:
The Company continued its growth trajectory by steady expansion of its Reliance Fresh stores across India and also of its existing stores. The Company is also committed to launching new hypermarket stores, which is one of the key growth retail business. During the year, the Company further strengthened its position as a leading value retailer with its operation Reliance Fresh stores and Hypermarts, spread across major cities in India. During the year, the Company launch a wholesale format that is built on the principle of offering inclusive growth to all the retail partners of the Company, the benefits of strong outsourcing capabilities and relationships with a large network of vendors to millions of small shop owners.
With aggressive expansion plans of the Company along with offering of a wide variety of private labels and a vibrant the directors are confident of strong performance of the Company in the coming years.
CONTINGENT
LIABILITY
Rs. In Millions
|
Particulars |
31.03.2111 |
31.03.2010 |
|
Details of other guarantees given |
89.300 |
61.700 |
|
Explanation of estimated financial effect of capital commitment |
337.700 |
26.400 |
Note:
(A) Outstanding guarantees furnished to Banks and Financial Institutions including in respect of Letters of Credit
(B) Estimated amount of contracts remaining to be executed on capital accounts (net of advances) and not provided for
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate identity
number of the company |
U01100MH1999PLC120563 |
|
Name of the
company |
RELIANCE FRESH
LIMITED |
|
Address of the
registered office or of the principal place of business in |
3rd Floor, Court
House, Lokmanya Tilak Marg , Dhobi Talao Mumbai – 400002, Maharashtra, India |
|
This form is for |
Creation of charge |
|
Type of charge |
Movable property (not being pledge) |
|
Particular of
charge holder |
HDFC Bank, HDFC Bank House, Senapati Bapat Marg, Lower Parel (West),
Mumbai-400013, |
|
Nature of
instrument creating charge |
Letter of HDFC Bank
dated March 1, 2012 and order of the High Court dated October 14, 2011 and
further amended by order dated December 2, 2011 |
|
Date of
instrument Creating the charge |
01.03.2012 |
|
Amount secured by
the charge |
Rs.42.500
Millions |
|
Brief of the principal
terms an conditions and extent and operation of the charge |
Rate of Interest Interest at such
rate/s as may be determined by the bank from time to time Terms of Repayment As per
Agreement(s) for Autoloan Extent and Operation of the charge First and
exclusive charge on the present and future vehicles (purchased under the loan
facility) hypothecated and the charge shall stand as security to the
repayment and payment by the Company to the Bank for all monies payable under
the Agreement for Autoloan. Others Pursuant to the
scheme of arrangement sanctioned by order of the High Court dated October 14,
2011 and further amended by order dated December 2, 2011, the assets and
liabilities (including the autoloan facility) comprised in certain undertakings
of the transferor companies have been demerged into and vested with Reliance
Fresh Limited, the transferee Company. |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
Vehicles as for Autoloan,
including future vehicles purchased under the loan facility. |
FIXED ASSETS:
· Leasehold Improvements
· Electrical Installation
· Equipments
· Plant and Machinery
· Furniture and fixtures
· Vehicles
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 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.55.17 |
|
|
1 |
Rs.86.43 |
|
Euro |
1 |
Rs.68.27 |
INFORMATION DETAILS
|
Information
Gathered by : |
PJA |
|
|
|
|
Report Prepared
by : |
NTH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
-- |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
-- |
|
--CREDIT LINES |
1~10 |
4 |
|
--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 |
|
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.