MIRA INFORM REPORT
|
Report Date : |
29.12.2012 |
IDENTIFICATION DETAILS
|
Name : |
HAVMOR ICE CREAM LIMITED |
|
|
|
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Registered
Office : |
2nd Floor, Kashmira Chambers, Behind Popular House, Navarangpura,
Ahmedabad-380009, |
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Country : |
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Financials (as
on) : |
31.03.2011 |
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Date of
Incorporation : |
27.03.2006 |
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|
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Com. Reg. No.: |
04-048016 |
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|
|
Capital
Investment / Paid-up Capital : |
Rs. 67.701 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U15200GJ2006PLC048016 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
AHMH02065A |
|
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|
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PAN No.: [Permanent Account No.] |
AABCH6766L |
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|
Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Manufacturer of Ice Creams |
|
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|
|
No. of Employees
: |
Information denied by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 890000 |
|
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|
|
Status : |
Satisfactory |
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|
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having satisfactory track record.
The latest financial are not made available with the government department. As per previous year’s, the company performance capacity appears to be
strong. Financially company seems to be healthy. Trade relations are reported
to be fair. Business is active. Payments are reported to be usually correct
and as per commitment. The company can be considered 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 |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
A-(Long Term Bank Facilities) |
|
Rating Explanation |
Having adequate degree of safety regarding timely servicing of financial
obligations. It carry low credit risk. |
|
Date |
December 2011 |
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. Rakesh |
|
Designation : |
Accountant |
|
Contact No.: |
91-79-26577070 |
|
Date : |
28.12.2012 |
LOCATIONS
|
Registered Office / Corporate Office : |
2nd Floor, Kashmira Chambers, Behind Popular House,
Navarangpura, Ahmedabad-380009, |
|
Tel. No.: |
91-79-26577070 |
|
Fax No.: |
91-79-26577010 |
|
E-Mail : |
|
|
Website : |
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|
Area : |
1200 sq. ft |
|
Location : |
Owned |
|
|
|
|
Factory : |
Modern Industrial Estate Naroda Road, Behind Foreign Blower, Memko,
Ahmedabad-380009, Gujarat, India |
|
Tel. No.: |
91-79-22203838 / 40 / 50 / 60 / 70 / 80 |
|
Fax No.: |
91-79-22203890 |
|
Area : |
Owned |
DIRECTORS
AS ON 30.09.2011
|
Name : |
Mrs. Rekha Pradeep Chana |
|
Designation : |
Whole Time Director |
|
Address : |
4-Garden Colony, Opposite Chinai Flats, Ellisbridge, Ahmedabad-380006,
Gujarat, India |
|
Date of Birth/Age : |
20.05.1956 |
|
Date of Appointment : |
27.03.2006 |
|
DIN No.: |
01670425 |
|
|
|
|
Name : |
Mr. Pradeep Satishchanfra Chona |
|
Designation : |
Director |
|
Address : |
4-Garden Colony, Opposite Chinai Flats, Ellisbridge, Ahmedabad-380006,
Gujarat, India |
|
Date of Birth/Age : |
16.05.1954 |
|
Date of Appointment : |
27.03.2006 |
|
DIN No.: |
01670452 |
|
|
|
|
Name : |
Mr. Ankit Pradeep Chona |
|
Designation : |
Director |
|
Address : |
4-Garden Colony, Opposite Chinai Flats, Ellisbridge, Ahmedabad-380006,
Gujarat, India |
|
Date of Birth/Age : |
27.01.1983 |
|
Date of Appointment : |
27.03.2006 |
|
DIN No.: |
01670485 |
|
|
|
|
Name : |
Mr. Bhaskar Hashmukhbhai Bheda |
|
Designation : |
Director |
|
Address : |
A/42/627, Krishnanagar Colony, Saijpur, Bogha Naroda Road,
Ahmedabad-382346, Gujarat, India |
|
Date of Birth/Age : |
11.04.1966 |
|
Date of Appointment : |
27.11.2009 |
|
DIN No.: |
02844615 |
KEY EXECUTIVES
|
Name : |
Mr. Rakesh |
|
Designation : |
Accountant |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2011
|
Names of Shareholders |
No. of Shares |
|
Rekha Pradeep Chana |
4187586 |
|
Riti K Mehta |
371400 |
|
Ankit P Chona |
1033800 |
|
Pradeep S Chona |
1177270 |
|
S C Chona and Company |
1 |
|
Havmor Restaurants Private Limited, India |
1 |
|
Gayatri A Chona |
2 |
|
TOTAL
|
6770060 |
AS ON 17.10.2011
|
Names of Allottees |
No. of Shares |
|
Rekha Pradeep Chana |
323640 |
|
Riti K Mehta |
628600 |
|
Ankit P Chona |
887200 |
|
Pradeep S Chona |
1390500 |
|
TOTAL
|
3229940 |
AS ON 30.09.2011
|
Equity Shares
Break Up |
Percentage of
Holding |
|
Directors or relatives of Directors |
100.00 |
|
TOTAL |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Ice Creams |
|
|
|
|
Products : |
·
Kids Special Ice Cream ·
Roll Cuts Ice Cream ·
Novelties Ice Cream ·
Top Cones Ice Cream ·
Candies Ice Cream ·
Party Pack and Family Pack Ice Cream ·
Fresh Fruit Ice Cream |
PRODUCTION STATUS (AS ON : 31.03.2011)
|
Particulars |
Unit |
Actual
Production |
|
|
|
|
|
Ice Cream |
In Liters |
15475316 |
*As per the view
of the management, installed capacity cannot be worked out & this being a
technical matter, we have accepted the view as correct.
GENERAL INFORMATION
|
No. of Employees : |
Information denied by the management |
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Bankers : |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
|
|
Name : |
Parikh and Majumdar Chartered Accountant |
|
Address : |
204-5-6, Harsh Avenue, |
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PAN No.: |
AAAFB8921B |
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|
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Associates : |
|
CAPITAL STRUCTURE
AS ON 31.03.2011
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 |
|
|
|
|
|
|
6770060 |
Equity Shares |
Rs.10/- each |
Rs. 67.701
Millions |
|
|
|
|
|
AS ON 28.09.2012
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 |
|
|
|
|
|
|
10000000 |
Equity Shares |
Rs.10/- each |
Rs. 100.000 Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
67.701 |
67.701 |
67.701 |
|
|
2] Share Application Money |
0.000 |
0.000 |
10.050 |
|
|
3] Reserves & Surplus |
156.322 |
107.052 |
63.163 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
224.023 |
174.753 |
140.914 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
318.657 |
152.766 |
98.338 |
|
|
2] Unsecured Loans |
16.124 |
20.151 |
18.960 |
|
|
TOTAL BORROWING |
334.781 |
172.917 |
117.298 |
|
|
DEFERRED TAX LIABILITIES |
36.608 |
25.986 |
20.206 |
|
|
|
|
|
|
|
|
TOTAL |
595.412 |
373.656 |
278.418 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
503.167 |
284.937 |
250.414 |
|
|
Capital work-in-progress |
0.000 |
33.608 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.008 |
0.008 |
0.008 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
190.049
|
178.525 |
123.644 |
|
|
Sundry Debtors |
27.191
|
28.511 |
58.358 |
|
|
Cash & Bank Balances |
49.694
|
27.750 |
16.932 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
17.105
|
5.491 |
4.766 |
|
Total
Current Assets |
284.039
|
240.277 |
203.700 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
89.925
|
93.438 |
|
|
|
Other Current Liabilities |
91.804
|
82.325 |
175.821 |
|
|
Provisions |
10.073
|
9.466 |
0.000 |
|
Total
Current Liabilities |
191.802
|
185.229 |
175.821 |
|
|
Net Current Assets |
92.237
|
55.048 |
27.879 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.055 |
0.117 |
|
|
|
|
|
|
|
|
TOTAL |
595.412 |
373.656 |
278.418 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
1182.073 |
978.791 |
833.935 |
|
|
|
Other Income |
10.191 |
6.335 |
|
|
|
|
TOTAL (A) |
1192.264 |
985.126 |
833.935 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Consumption materials changes inventories |
745.119 |
|
772.597 |
|
|
|
Manufacturing service costs |
103.684 |
81.985 |
|
|
|
|
Employee related expenses |
64.707 |
57.625 |
|
|
|
|
Administrative selling other expenses |
161.299 |
140.382 |
|
|
|
|
Prior period items |
2.129 |
5.002 |
|
|
|
|
TOTAL (B) |
1076.938 |
890.325 |
772.597 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
115.326 |
94.801 |
61.338 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
13.451 |
9.733 |
11.630 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
101.875 |
85.068 |
49.708 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
19.636 |
15.799 |
12.555 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
82.239 |
69.269 |
37.153 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
29.022 |
25.380 |
14.665 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
53.217 |
43.889 |
22.488 |
|
|
|
|
|
|
|
|
|
Less |
EXPENDITURE OF
EARLIER YEARS |
0.000 |
0.000 |
1.879 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
107.052 |
63.163 |
42.554 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
1.500 |
0.000 |
0.000 |
|
|
|
Dividend |
3.385 |
0.000 |
0.000 |
|
|
|
Tax on Dividend |
0.562 |
0.000 |
0.000 |
|
|
BALANCE CARRIED
TO THE B/S |
154.822 |
107.052 |
63.163 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
0.000 |
0.175 |
NA |
|
|
|
Packing Material |
1.737 |
1.626 |
NA |
|
|
|
Machinery |
26.702 |
0.000 |
NA |
|
|
TOTAL IMPORTS |
28.439 |
1.801 |
NA |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
7.86 |
6.48 |
-- |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
4.46
|
4.46 |
2.70 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
6.96
|
7.08 |
NA |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
10.45
|
13.19 |
8.18 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.37
|
0.40 |
0.26 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.48
|
1.30 |
1.16 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.48
|
1.30 |
1.16 |
LOCAL AGENCY FURTHER INFORMATION
|
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 |
No |
|
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) |
Yes |
|
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 |
No |
|
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 |
Yes |
SUNDRY CREDITORS
DETAILS
(Rs.
In Millions)
|
Particulars |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
Sundry Creditors
|
|
|
|
|
Creditors due small micro enterprises |
0.000 |
0.000 |
NA |
|
Creditors due others |
89.925 |
93.438 |
NA |
|
TOTAL |
89.925 |
93.438 |
NA |
YEAR IN RETROSPECT
AND FUTURE OUTLOOK
The company has
achieved gross turnover of Rs. 1186.200 Millions in comparison of previous year
of Rs. 997.600 Millions showing a growth of 19%. The net profit after tax for
the year works out to Rs.53.200 Millions showing a net margin of 4.48% in
comparison of previous year’s figures of Rs. 43.900 Millions and 4.40%
respectively. However, the figures of the current year are strictly not
comparable with the figures of the previous year because of the start of new
plant at GIDC w.e.f. 7th Feb, 2011.
During the year to
maintaining a tab on the time and temperature of ice cream during entire
logistic cycle, GPRS system had been introduced. To increase the market share
innovative trade/ consumer schemes has been launched besides the aggressive
branding and media advertisements. Company has also consolidated its leadership
presence in the neighboring states of Maharashtra and Rajasthan apart from its
leadership status in Gujarat. Company has also implemented the SAP ERP which
helped in faster and accurate interface between operations and support services
for better and timely decisions. During the year drive of cost saving was
initiated which has helped in controlling raw material / packaging material
costs and in spite of continuous increase in the prices of key ingredients
-milk, SMP, butter, chocolates, dry fruits etc the overall margins has been
increased.
The Company is planning to extend its territory to the other stats in
the near future.
NEW PLANT
The new factory
with a installed capacity of 40,000 ltr per day has commissioned successfully
from Feb, 2011. The product is very good and well accepted by the market. The
capital outlay on the new plant is Rs 259.826 Millions which has been funded by
a term loan of Rs. 199.000 Millions and balance of Rs. 60.826 Millions out of
internal accruals.
FORM 8
|
Corporate
identity number of the company |
U15200GJ2006PLC048016 |
|
Name of the
company |
HAVMOR ICE CREAM
LIMITED |
|
Address of the
registered office or of the principal place of business in |
2nd Floor, Kashmira Chambers, Behind Popular House, Navarangpura, Ahmedabad-380009, Gujarat, India |
|
This form is for |
Creation of
charge |
|
Type of charge |
|
|
Particular of
charge holder |
HDFC Bank Limited, HDFC bank House, Senapati Bapat Marg, Lower Parel (West), Mumbai-400013, Maharashtra, India |
|
Nature of
instrument creating charge |
Letter of
Hypothecation of Stocks, Book Debts and Machinery dated24/09/2012 |
|
Date of
instrument Creating the charge |
24.09.2012 |
|
Amount secured by
the charge |
Rs. 432.300
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of interest Cash Credit :
Base Rate + 225 BPS Working Capital
Demand Loan ( Sub Limit of Cash Credit Facility): Base Rate + 170 BPS Term Loan - 1,2,3
and 4 (Takeover From Corporation Bank)
: Base Rate + 170 BPS Terms of repayment Cash Credit : on
Demand Working Capital
Demand Loan (Sub Limit of Cash Credit Facility): on Demand Term Loan - 1,2,3
and 4(Takeover From Corporation Bank) : As per repayment Schedule of
Corporation Bank Margin Cash Credit and
Working Capital Demand Loan ( Sub Limit of Cash Credit Facility): 25% on all
components of Stocks (up to 90 Days) Obsolete Stocks
to be excluded for the purpose of Drawing Power Calculation Margin : 25% on
Debtors Debtors aging
> 90 days to be excluded for the purpose of Drawing Power Calculation. Term Loan - 1,2,3
and 4( Takeover From Corporation Bank) : As per Existing Sanction of
Corporation Bank Extent and operation of the charge First and
Exclusive Charge on Entire Current Assets Including Plant and Machinery of
The Company Both Present and Future |
|
Short particulars
of the property charged (Including location of the property) |
First and
Exclusive Charge on Entire Current Assets Including Plant and Machinery of
The Company Both Present and Future |
FIXED ASSETS
- Factory
Building
- Office
Building
- Plant and
Machinery
- Furniture and
Fixtures
- Vehicles
- Computers
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. 54.84 |
|
|
1 |
Rs. 88.39 |
|
Euro |
1 |
Rs. 72.63 |
INFORMATION DETAILS
|
Information
Gathered by : |
PJA |
|
|
|
|
Report Prepared
by : |
DPT |
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 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--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 |
|
45 |
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.