MIRA INFORM REPORT
|
Report Date : |
21.12.2012 |
IDENTIFICATION DETAILS
|
Name : |
JANAK HEALTHCARE PRIVATE LIMITED |
|
|
|
|
Formerly Known
As : |
METALBEDS INDIA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Janak House, Opposite
Indian Oil Corporation Depot, Antop Hill, Sheikh Misry Road, Wadala (East),
Mumbai - 400037, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
02.12.1999 |
|
|
|
|
Com. Reg. No.: |
11-122868 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 31.450
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U36100MH1999PTC122868 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
SRTM02400G /
MUMM24031A |
|
|
|
|
PAN No.: [Permanent Account No.] |
AACCM0219N |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturers of
Hospitality Furniture. |
|
|
|
|
No. of Employees
: |
500 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (49) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 1130000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a well established and reputed company having satisfactory track
record. 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 good for normal business dealings at
usual trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
INDIAN ECONOMIC OVERVIEW
|
Source
: CIA |
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 BY
|
Name : |
Mr. Pramod |
|
Designation : |
Finance Manager |
|
Contact No.: |
91-22-49153000 |
|
Date : |
20.12.2012 |
LOCATIONS
|
Registered Office : |
Janak House,
Opposite Indian Oil Corporation Depot, Antop Hill, Sheikh Misry Road, Wadala
(East), Mumbai - 400037, Maharashtra, India |
|
Tel. No.: |
91-22- 24180637/
24150408/ 24130407 |
|
Fax No.: |
91-22-24139870 |
|
E-Mail : |
Pramod.jadhav@janakhealthcare.com
|
|
Website : |
|
|
Location : |
Owned |
|
|
|
|
Corporate Office : |
Kalpataru Point,
Unit No. 12, 1st Floor, Opposite Cinemax Theatre, Sion (East), Mumbai -
400022, Maharashtra, India |
|
Tel. No.: |
91-22-49153000 |
|
Fax No.: |
91-22-49153100 |
|
|
|
|
Factory 1 : |
A-1/3, G.I.D.C.
Estate, Umbergaon-390171, District Valsad, Gujarat, India |
|
Tel. No.: |
91-260-2562406/
2562706/ 2563516/ 2562416 |
|
Fax No.: |
91-260-2562706 |
|
Area : |
46,891 sq.fts |
|
Location : |
Owned |
|
|
|
|
Branches : |
Ø 432 / 1 / 2,
Prince Anwar Shah Road, Kolkata – 700045, West Bengal, India Ø 15-16 Community
Centre, Naraina Industrial Area, Phase – I, First Floor, Office No.2, Near
Naraina P.O., New Delhi – 110028, India Ø No. 9, City Centre,
1st Floor, 66, Thirumalai Pillai Road, Near Vani Mahal, T. Nagar, Chennai –
600017, Tamilnadu, India |
DIRECTORS
AS ON 11.07.2012
|
Name : |
Mr. Apurva
Jayantilal Mehta |
|
Designation : |
Director |
|
Address : |
153, Jain Society, 3rd Floor, Shri Mahavir Co-operative
Housing Society, Sion, Mumbai – 400056, Maharashtra, India |
|
Date of Birth/Age : |
19.12.1943 |
|
Date of Appointment : |
02.12.1999 |
|
DIN No.: |
00051072 |
|
|
|
|
Name : |
Mr. Robert James Morris |
|
Designation : |
Nominee Director |
|
Address : |
1822, Lexington Drive, Troy 48084, United States of America |
|
Date of Appointment : |
07.04.2012 |
|
DIN No.: |
01394704 |
|
|
|
|
Name : |
Dr. Anne Eiting Klamar |
|
Designation : |
Director |
|
Address : |
875, Wooodland, Dr. Versailles, Oh 45380, USA |
|
Date of Birth/Age : |
31.03.1961 |
|
Date of Appointment : |
22.12.2008 |
|
DIN No.: |
02421161 |
|
|
|
|
Name : |
Mr. Vijay Paliwal |
|
Designation : |
Nominee director |
|
Address : |
219, Denwood TRL, Clayton 45315, United States of America |
|
Date of Birth/Age : |
20.05.1977 |
|
Date of Appointment : |
26.08.2010 |
|
DIN No.: |
02903223 |
|
|
|
|
Name : |
Mr. Amit Hasmukh Mehta |
|
Designation : |
Nominee director |
|
Address : |
601, Crystal Classic CHS Limited, 6th Floor, S V Road, Vile
Parle (West), Mumbai – 400056, Maharashtra, India |
|
Date of Birth/Age : |
01.10.1963 |
|
Date of Appointment : |
12.05.2010 |
|
DIN No.: |
03090161 |
KEY EXECUTIVES
|
Name : |
Mr. Pramod |
|
Designation : |
Finance Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 11.07.2012
|
Names of Shareholders |
|
No. of Shares |
|
Amit Jayantilal Mehta Joint Shareholding With Mrs. Rita A. Mehta |
|
20876 |
|
Apurva Jayantilal Mehta With Mrs. Hema Mehta |
|
380699 |
|
Apurva Jayantilal Mehta With Mr. Atman A. Mehta |
|
203298 |
|
Apurva Jayantilal Mehta With Mr. Subir A. Mehta |
|
203298 |
|
Hasmukh Mehta With Mr. Vasant H. Mehta |
|
215543 |
|
Hasmukh Mehta With Mr. Amit H Mehta |
|
207146 |
|
Hasmukh Mehta With Mr. Raj H. Mehta |
|
207146 |
|
Midmark Corporation, USA |
|
1706994 |
|
Total |
|
3145000 |
AS ON 11.07.2012
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Bodies
corporate |
|
54.28 |
|
Directors
or relatives of directors |
|
45.72 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturers of
Hospitality Furniture. |
||||
|
|
|
||||
|
Products : |
|
GENERAL INFORMATION
|
No. of Employees : |
500 (Approximately ) |
||||||||||||||||||||||||||||||
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|
||||||||||||||||||||||||||||||
|
Bankers : |
HDFC Bank
Limited, HDFC Bank House, Senapati Bapat Marg, Lower Parel [West], Mumbai – 400013,
Maharashtra, India |
||||||||||||||||||||||||||||||
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|
|
||||||||||||||||||||||||||||||
|
Facilities : |
Note: Loan from Bank represents cash credit facility bearing interest rate
@13% p.a. The cash credit facility is secured by stock, book debts and entire
Current asset and movable fixed assets of the company. |
||||||||||||||||||||||||||||||
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Deloitte Huskins and Sells Chartered Accountants |
|
Address : |
Tower 3, 27th-32nd Floor,Indiabulls Finance Centre, Senapati Bapat
Marg, Elphinstone (West), Mumbai – 400013, Maharashtra, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AACFD4815A |
|
|
|
|
Holding Company : |
Midmark Corporation, USA |
|
|
|
|
Subsidiaries : |
Janak Medicare Private Limited [U33110MH2008PTC181578] |
|
|
|
|
Fellow Subsidiaries : |
Ø Newmed S.R.L. Ø Midmark Europe |
|
|
|
|
Associates and Other Entity : |
Ø Janak Sales and
Services Ø Metal Beds India
|
CAPITAL STRUCTURE
AS ON 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5000000 |
Equity Shares |
Rs. 10/- each |
Rs. 50.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3145000 |
Equity Shares |
Rs. 10/- each |
Rs. 31.450
Millions |
|
|
|
|
|
Reconciliation of number of equity shares
|
|
31.03.2012 |
|
|
|
Number |
Amount |
|
Shares outstanding at the beginning of the
year |
3145000 |
31.450 |
|
Shares issued during the year |
-- |
-- |
|
Shares bought back during the year |
-- |
-- |
|
Shares outstanding at the end of the year |
3145000 |
31.450 |
Shares held by holding company
1706994 Equity Shares are held by MIDMARK
CORPORATION, the holding company.
The equity shares of the company having rights
and are subject to the preferential rights as prescribed under law or those of
the preference shareholders if any. The equity shares are also subject to the
restrictions as prescribed under the Companies Act, 1956
Shares in the company held by shareholder
holding more than 5 percent shares specifying the number of shares held.
|
Names of Shareholders |
No. of Shares |
% of Holding |
|
Midmark Corporation, USA |
1706994 |
54.28 |
|
Apurva Jayantilal Mehta With Mrs. Hema Mehta |
380699 |
12.10 |
|
Apurva Jayantilal Mehta With Mr. Atman A. Mehta |
203298 |
6.46 |
|
Apurva Jayantilal Mehta With Mr. Subir A. Mehta |
203298 |
6.46 |
|
Hasmukh Mehta With Mr. Vasant H. Mehta |
215543 |
6.85 |
|
Hasmukh Mehta With Mr. Amit H Mehta |
207146 |
6.59 |
|
Hasmukh Mehta With Mr. Raj H. Mehta |
207146 |
6.59 |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
31.450 |
31.450 |
31.450 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
250.453 |
193.678 |
137.440 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
281.903 |
225.128 |
168.890 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.274 |
1.154 |
4.557 |
|
|
2] Unsecured Loans |
19.755 |
2.188 |
0.000 |
|
|
TOTAL BORROWING |
20.029 |
3.342 |
4.557 |
|
|
DEFERRED TAX LIABILITIES |
10.170 |
9.216 |
9.235 |
|
|
|
|
|
|
|
|
TOTAL |
312.102 |
237.686 |
182.682 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
92.272 |
66.774 |
60.679 |
|
|
Capital work-in-progress |
6.605 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.200 |
0.200 |
31.031 |
|
|
DEFERRED TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
123.700
|
112.879 |
88.924
|
|
|
Sundry Debtors |
120.534
|
189.003 |
140.672
|
|
|
Cash & Bank Balances |
81.678
|
30.850 |
22.109
|
|
|
Other Current Assets |
6.057
|
0.000 |
0.000
|
|
|
Loans & Advances |
16.290
|
25.492 |
63.847
|
|
Total
Current Assets |
348.259
|
358.224 |
315.552
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
84.928
|
119.424 |
113.723 |
|
|
Other Current Liabilities |
30.128
|
40.248 |
42.859
|
|
|
Provisions |
20.178
|
27.840 |
67.998
|
|
Total
Current Liabilities |
135.234
|
187.512 |
224.580
|
|
|
Net Current Assets |
213.025
|
170.712 |
90.972
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
312.102 |
237.686 |
182.682 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
|
|
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL (A) |
805.934 |
761.527 |
643.698 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL (B) |
684.495 |
636.682 |
539.977 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
121.439 |
124.845 |
103.721 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
2.078 |
2.312 |
4.640 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
119.361 |
122.533 |
99.081 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
6.277 |
5.326 |
4.755 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
113.084 |
117.207 |
94.326 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
39.467 |
40.063 |
35.911 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
73.617 |
77.144 |
58.415 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’
BALANCE BROUGHT FORWARD |
117.298 |
68.774 |
34.744 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
7.362 |
7.714 |
5.842 |
|
|
|
Dividend |
16.842 |
20.906 |
18.543 |
|
|
BALANCE CARRIED
TO THE B/S |
166.711 |
117.298 |
68.774 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Commission Earnings |
8.919 |
17.195 |
13.812 |
|
|
|
Export Earnings |
8.955 |
14.376 |
8.953 |
|
|
|
Reimbursement |
0.000 |
0.362 |
0.606 |
|
|
TOTAL EARNINGS |
17.874 |
31.933 |
23.371 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
66.802 |
31.439 |
38.086 |
|
|
|
Trading Materials |
39.139 |
64.772 |
41.728 |
|
|
|
Capital Goods |
9.483 |
0.000 |
0.000 |
|
|
TOTAL IMPORTS |
115.424 |
96.211 |
79.814 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
|
|
|
|
|
|
Basic
|
23.41 |
24.53 |
18.97 |
|
|
|
Diluted
|
23.41 |
24.53 |
19.50 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
9.13
|
10.13 |
9.07 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
25.67
|
27.58 |
25.07 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.40
|
0.52 |
0.56 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.55
|
0.85 |
1.36 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.58
|
1.91 |
1.41 |
LOCAL AGENCY FURTHER INFORMATION
SUNDRY CREDITORS
DETAILS:
|
Particulars |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
(Rs. In Millions) |
||
|
Manufacturing goods |
43.011 |
67.117 |
61.294 |
|
Imported goods |
2.136 |
5.662 |
10.992 |
|
Others |
39.781 |
46.645 |
41.437 |
|
Total |
84.928 |
119.424 |
113.723 |
|
Note: As per the information available with
the Company, there are no Micro, Small and Medium Enterprises as defined in
Micro, Small and Medium Enterprises Development Act, 2006, to whom the
Company owes dues as at year end on account of principle and interest thereon
and accordingly no additional disclosure have been made. The above information regarding
Micro, Small and Medium Enterprises have been determined to the extent such
parties have been identified on the basis of information available with the
firm/This has been relied upon by the statutory auditors of the Company. |
|||
|
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 |
Yes |
|
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 |
Yes |
|
10] |
Designation of contact
person |
Yes |
|
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 |
No |
|
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 |
BACKGROUND
Subject was incorporated on 2nd December, 1999 to
manufacture, trade, and import and export furniture used in health care centre.
JHPL is a closely held company with 1438006 shares being held by “Mehta” family
(Indian Promoters) and 1706994 shares held by Midmark Corporation a US based
company.
The accompanying financial statements reflect the results of the
activities undertaken by JHPL and JMPL during the financial year 2010-11.
CONTINGENT LIABILITIES:
Contingent liabilities towards Bank Guarantees given to customers and
other business requirement are Rs. 20.330 Millions and income tax outstanding
demand for Rs. 2.390 Millions which is in dispute.
FIXED ASSETS
Ø
Land
Ø
Ø
Plant And Machinery
Ø
Typewriter
Ø
Office Air Conditioner
Ø
Motor car
Ø
Scooter
Ø
Factory Furniture
Ø
Computer
Ø
Library Books
Ø
Factory Road
Ø
Factory Equipment
Ø
Office Premises
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 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. 54.84 |
|
|
1 |
Rs. 89.11 |
|
Euro |
1 |
Rs. 72.47 |
INFORMATION DETAILS
|
Information
Gathered by : |
PDT |
|
|
|
|
Report Prepared
by : |
BVA |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
|
49 |
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.