MIRA
INFORM REPORT
|
Report Date : |
07.02.2012 |
IDENTIFICATION DETAILS
|
Name : |
PERFECT FILAMENTS LIMITED (w.e.f.11.08.2011) |
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|
|
|
Formerly Known
As : |
PERFECT FILAMENTS PRIVATE LIMITED |
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Registered
Office : |
Room No.25, 2nd Floor, 380/382, Shankar Sheth Building,
J.S.S. Road, Chira Bazar, Mumbai-400002, Maharashtra |
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Country : |
India |
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Financials (as
on) : |
31.03.2011 |
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Date of
Incorporation : |
02.09.1994 |
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Com. Reg. No.: |
11-080756 |
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|
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Capital
Investment / Paid-up Capital : |
Rs. 99.135 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U17120MH1994PLC080756 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMP08393A |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACP4215F |
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|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
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|
|
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Line of Business
: |
Manufacturer and Exporter of Polyester Filament Yarn. |
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|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (48) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 1400000 |
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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. 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 conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – September 30, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
LOCATIONS
|
Registered Office : |
Room No.25, 2nd Floor, 380/382, Shankar Sheth Building,
J.S.S. Road, Chira Bazar, Mumbai-400002, Maharashtra, India |
|
Tel. No.: |
91-22-22011077 |
|
Fax No.: |
91-22-22059415 |
|
E-Mail : |
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|
Website : |
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|
|
|
|
Factory 1 : |
94, Panchal Udyog Nagar, Bhimpore-396210, Daman, India |
|
Tel. No.: |
91-260-2221150 |
|
E-Mail : |
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|
|
|
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Factory 2 : |
Survey No. 287, Bhimpore-396210, Daman, India |
DIRECTORS
AS ON 30.09.2011
|
Name : |
Mr. Rajendra Madanlal Gupta |
|
Designation : |
Managing Director |
|
Address : |
1101, Jaywant Apartment, Dadarkar Compound, Tardeo, Mumbai-400034,
Maharashtra, India |
|
Date of Birth/Age : |
30.03.1962 |
|
Date of Appointment : |
02.09.1994 |
|
DIN No.: |
01552646 |
Other Directorship:
|
S.No. |
CIN |
Name
of the Company |
Current
designation of the director |
Date
of appointment at current designation |
Original
date of appointment |
Company
Status |
Defaulting
status |
|
1 |
U17120MH1994PLC080756 |
PERFECT
FILAMENTS LIMITED |
Managing
director |
02-09-94 |
02-09-94 |
Active |
NO |
|
2 |
U18101MH2001PTC133489 |
KRUTI
POLYESTERS PRIVATE LIMITED |
Managing
director |
27-09-01 |
27-09-01 |
Amalgamated |
NO |
|
3 |
U17291MH2010PLC199985 |
PERFECT
YARNS LIMITED |
Director |
11-02-10 |
11-02-10 |
Active |
NO |
|
4 |
U72200MH2010PLC200181 |
SOFTACULOUS
LIMITED |
Director |
17-02-10 |
17-02-10 |
Active |
NO |
|
Name : |
Ms. Priya Rajendra Gupta |
|
Designation : |
Whole Time Director |
|
Address : |
1101, Jaywant Apartment, Dadarkar Compound, Tardeo, Mumbai-400034,
Maharashtra, India |
|
Date of Birth/Age : |
23.01.1965 |
|
Date of Appointment : |
08.02.1999 |
|
DIN No.: |
01552663 |
Other Directorship:
|
S.No. |
CIN |
Name
of the Company |
Current
designation of the director |
Date
of appointment at current designation |
Original
date of appointment |
Company
Status |
Defaulting
status |
|
1 |
U17120MH1994PLC080756 |
PERFECT
FILAMENTS LIMITED |
Whole-time
director |
08-02-99 |
08-02-99 |
Active |
NO |
|
2 |
U18101MH2001PTC133489 |
KRUTI
POLYESTERS PRIVATE LIMITED |
Whole-time
director |
27-09-01 |
27-09-01 |
Amalgamated |
NO |
|
Name : |
Ms. Latadevi Madanlal Gupta |
|
Designation : |
Director |
|
Address : |
Jooticha Building, Flat No.41, Sleater Road, Mumbai-400007,
Maharashtra, India |
|
Date of Birth/Age : |
12.01.1939 |
|
Date of Appointment : |
02.05.2011 |
|
DIN No.: |
02489852 |
Other Directorship:
|
S.No. |
CIN |
Name
of the Company |
Current
designation of the director |
Date
of appointment at current designation |
Original
date of appointment |
Date
of cessation |
Company
Status |
Defaulting
status |
|
1 |
U17114MH1996PLC103477 |
WELLKNOWN
POLYESTERS LIMITED |
Director |
29-09-09 |
11-12-08 |
- |
Active |
NO |
|
2 |
U70109MH1995PTC091597 |
WELLKNOWN
HITECH PROJECTS PRIVATE LIMITED |
Additional
director |
11-12-08 |
11-12-08 |
31-03-09 |
Active |
NO |
|
3 |
U17110MH1987PTC043355 |
WELLKNOWN
TEXTILE INDUSTRIES PRIVATE LIMITED |
Additional
director |
11-12-08 |
11-12-08 |
31-03-09 |
Active |
NO |
|
4 |
U70102MH2010PTC207508 |
WELLKNOWN
INFRATECH PRIVATE LIMITED |
Director |
08-09-10 |
08-09-10 |
01-10-10 |
Active |
NO |
|
5 |
U70102MH2010PTC207736 |
WELLKNOWN
PROPERTIES PRIVATE LIMITED |
Director |
16-09-10 |
16-09-10 |
01-10-10 |
Active |
NO |
|
6 |
U17120MH1994PLC080756 |
PERFECT
FILAMENTS LIMITED |
Director |
30-09-11 |
02-05-11 |
- |
Active |
NO |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2011
|
Names of Shareholders |
No. of Shares |
|
Rajendra Gupta |
3,925,749 |
|
Priya Gupta |
1,796,259 |
|
Latadevi Gupta |
205,101 |
|
Pulkit Gupta |
425,979 |
|
Rajendra Gupta,
Karta Rajendra Gupta HUF |
220,947 |
|
Ronak Gupta |
556,149 |
|
Perfect Yarns Limited, India |
2,448,050 |
|
Softaculous Limited, India |
60,000 |
|
Albino
Investment Consultants Private Limited, India |
10,000 |
|
Atlantic
Investment Advisory Private Limited, India |
35,000 |
|
Axiom Goods
Private Limited, India |
65,000 |
|
Cherry Projects
and Developments Private Limited, India |
35,000 |
|
Dream Valley
Sales Private Limited, India |
20,000 |
|
Matangi
Suppliers Private Limited, India |
25,000 |
|
Sunview Retail Private
Limited, India |
20,000 |
|
Topaz Tradelink
Private Limited, India |
10,000 |
|
Uplink Vyapaar
Private Limited, India |
30,000 |
|
Welkin
Investment Consultants Private Limited, India |
15,000 |
|
Wellworth
Tradelink Private Limited, India |
10,000 |
|
Saraswati R.
Kalani |
1 |
|
Suresh Chand
Gupta, Karta Suresh Chand
Gupta HUF |
6 |
|
Rajendra Gupta
Karta, Prop. Raj
Textiles |
272 |
|
Sanjay Kumar Y
Gupta |
6 |
|
(i) Indarchand
Saraogi, Karta Indarchand
Saraogi HUF (ii) Krishna
Kumar Saraogi |
6 |
|
Nikunj Mehta |
3 |
|
R Natwarlal
Parekh |
3 |
|
HajariMalji K
Jain Indraben
Hajarimalji Jain Sejal Kumari
Hajari Malji Jain |
3 |
|
Shiv Prasad
Gayalal Agarwal, Proprietor Manoj and Company |
3 |
|
Meghna R Agrawal |
3 |
|
Total |
9,913,540 |
AS ON 30.09.2011
|
Equity Shares
Break Up |
Percentage |
|
Bodies corporate |
28.07 |
|
Directors or relatives of Directors |
69.70 |
|
Other top fifty shareholders |
2.23 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Polyester Filament Yarn. |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
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Bankers : |
·
State Bank of India, MID – Corporate Branch,
GIDC, Vapi-396195, Gujarat, India |
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Facilities : |
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Banking
Relations : |
-- |
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|
Auditors : |
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|
Name : |
Shah and Taparia Chartered Accountants |
|
Address : |
12, Navjeevanwadi, Dhobitalao, Mumbai-400002, Maharashtra, India |
|
Pan No.: |
AAOFS0663D |
CAPITAL STRUCTURE
AS ON 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
12000000 |
Equity Shares |
Rs.10/- each |
Rs. 120.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
9913540 |
Equity Shares |
Rs.10/- each |
Rs. 99.135
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 |
99.135 |
28.608 |
24.768 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
264.574 |
156.246 |
102.338 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
363.709 |
184.854 |
127.106 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
696.643 |
340.573 |
157.180 |
|
|
2] Unsecured Loans |
14.684 |
12.403 |
5.260 |
|
|
TOTAL BORROWING |
711.327 |
352.976 |
162.440 |
|
|
DEFERRED TAX LIABILITIES |
38.500 |
21.521 |
15.758 |
|
|
|
|
|
|
|
|
TOTAL |
1113.536 |
559.351 |
305.304 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
506.141 |
269.989 |
135.624 |
|
|
Capital work-in-progress |
21.124 |
38.531 |
10.170 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.700 |
0.750 |
0.550 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
233.142
|
71.570 |
58.640 |
|
|
Sundry Debtors |
305.214
|
237.857 |
110.042 |
|
|
Cash & Bank Balances |
29.087
|
7.359 |
3.062 |
|
|
Other Current Assets |
11.407
|
2.750 |
0.000 |
|
|
Loans & Advances |
124.645
|
10.438 |
7.910 |
|
Total
Current Assets |
703.495
|
329.974 |
179.654 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
91.267
|
72.721 |
14.052 |
|
|
Other Current Liabilities |
10.245
|
4.461 |
4.771 |
|
|
Provisions |
16.412
|
2.711 |
1.871 |
|
Total
Current Liabilities |
117.924
|
79.893 |
20.694 |
|
|
Net Current Assets |
585.571
|
250.081 |
158.960 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
1113.536 |
559.351 |
305.304 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
1362.923 |
791.115 |
608.824 |
|
|
|
Other Income |
0.000 |
0.000 |
0.000 |
|
|
|
TOTAL (A) |
1362.923 |
791.115 |
608.824 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Consumption materials changes inventories |
1122.891 |
682.708 |
|
|
|
|
Manufacturing service cost |
60.401 |
36.781 |
|
|
|
|
Contract Cost |
11.886 |
3.837 |
|
|
|
|
Employee Related Expenses |
10.235 |
5.732 |
|
|
|
|
Administrative, Selling Other Expenses |
11.099 |
6.265 |
|
|
|
|
TOTAL (B) |
1216.512 |
735.323 |
564.092 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
146.411 |
55.792 |
44.732 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
39.890 |
19.112 |
15.652 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
106.521 |
36.680 |
29.080 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
18.171 |
8.794 |
7.981 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
88.350 |
27.886 |
21.099 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
27.600 |
8.535 |
6.232 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
60.750 |
19.351 |
14.867 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
NA |
NA |
72.904 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
165.029 |
107.120 |
87.771 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
4.13 |
7.50 |
6.10 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
4.46
|
2.45 |
2.44 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
6.48
|
3.52 |
3.47 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
7.30
|
4.65 |
6.69 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.24
|
0.15 |
0.17 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
2.39
|
2.46 |
1.56 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
5.97
|
4.13 |
8.68 |
LOCAL AGENCY FURTHER INFORMATION
CONTINGENT LIABILITIES NOT PROVIDED FOR: (AS ON
31.03.2011)
(i) Guarantee
given by the company’s bankers for which counter guarantee have been given by
the company: Rs.13.985 Millions (Previous Year Rs.5.976 Millions).
FORM 8
|
Corporate identity
number of the company |
U17120MH1994PLC080756 |
|
Name of the
company |
PERFECT
FILAMENTS LIMITED |
|
Address of the
registered office or of the principal place of business in |
Room No.25, 2nd Floor, 380/382, Shankar Sheth Building, J.S.S. Road, Chira Bazar, Mumbai-400002, Maharashtra, India |
|
This form is for |
Modification of
charge |
|
Type of charge |
Book debts Movable property
(not being pledge) |
|
Particular of
charge holder |
State Bank of India, MID – Corporate Branch, GIDC, Vapi-396195, Gujarat, India |
|
Nature of
instrument creating charge |
Working Capital
Consortium Agreement Joint Deed of
Hypothecation |
|
Date of
instrument Creating the charge |
03.10.2011 |
|
Amount secured by
the charge |
Rs. 518.125
Millions |
|
Short particulars
of the property charged (Including location of the property) |
Hypothecation
and/or pledge of Borrower's Current Assets, namely Stocks of Raw Materials, Semi-Finished
and Finished Goods, Stores and Spares not relating to plant and machinery
(Consumable Stores) Bills Receivable
and Book Debts and all other movables of the Borrower/of the Borrower
pertaining to the said Division, both present and future excluding such
movables as may be permitted by Banks |
|
Charge
identification number of the charge to be modified |
10251203 |
|
Date of
instrument modifying the charge |
21.09.2010 |
|
Particulars of
the present modification |
Enhancement of working
capital credit limits by Rs. 240.000 Millions in favour of Borrower by the
SBI Consortium |
FIXED ASSETS
·
Land
·
Factory Building
·
Office Premises
·
Furniture and Fixtures
·
Office Equipments
·
Plant and Machinery
·
Vehicles
WEBSITE DETAILS
HISTORY
Subject was incorporated on 02/09/1994 and since then has
grown manifestly. The company has been converted from Private Limited to Public
Limited on 11.08.2011. The company has merged Kruti Polyesters Private Limited
into Perfect Filaments Private Limited in 2007-08. There are 3 directors in the
company. Today they have 28 Texturising Machines, 2 Air-Texturising machines,
10 Twisting Machines and are implementing 3 Poy Lines Consisting of 36 Winders.
The production of these is expected to start in January 2012
The company has known in the industry for Specialty products
that they offer and their excellent quality. They do not manufacture any
commodity products and are completely focused on high margin specialty products
only.
The Company have the only facility / specialized technology to tint yarns on
texturising machines which enables to distinguish two different yarns which is
of immense use to customers. This brings exclusively to in their product more
and this also gives them added more edge over their competitors.
MANAGEMENT
A) Shri Rajendra Gupta, aged about 50 years is
a commerce graduate. He has about 28 years experience in the textile business.
He will look after financial and marketing aspects of the company. He has very
large influence in market. He will looks after Appointment of personnel,
strategy formation, planning for various areas as well as New Developments and
comparison of targeted results with actual performance. Apart from his managing
abilities he has specialization in marketing which is the core of the project
proposed having large contact in entire Textile market.
B) Smt Priya Rajendra Gupta aged about 47 years is
B.Sc. She is handling sales. She has business experience of around 12 years in
Textile Division. Presently working as a Director in "M/s. Perfect
Filaments Limited" She is also involved in Trading/Mfg. of Hosiery Fabrics
and Garments with "M/s. Raj Textiles"
C) Smt. Lata Devi Madanlal Gupta aged 75 years is having
good experience in textile business.
D) Shri Ronak Rajendra Gupta aged about 23 years is
a B. Com. He is young, dynamic and energetic. With two years of his sincere
efforts in company as on CEO the company has grown along with proper
management. He is always focused on ideas and concepts. He looks after quality
control, finance arrangements, technological upgrades, expansion of business.
E) Shri Pulkit Rajendra Gupta aged 22 years is
commerce graduate. His random visit to factory results in optimum utilization
of resources.
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. 48.67 |
|
|
1 |
Rs. 76.75 |
|
Euro |
1 |
Rs. 63.56 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
48 |
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.