MIRA INFORM REPORT

 

 

Report Date :

18.07.2012

 

IDENTIFICATION DETAILS

 

Name :

EXTRAWEAVE PRIVATE LIMITED [w.e.f. 29.06.2005]

 

 

Formerly Known As :

EXTRATUFT PRIVATE LIMITED

 

 

Registered Office :

Building No. 264, Saktheeswaram  Junction, Cherthala, P O Box – 74, Alleppey-688524, Kerala

 

 

Country :

India

 

 

Financials (as on) :

31.03.2011

 

 

Date of Incorporation :

13.01.2005

 

 

Com. Reg. No.:

09-17785

 

 

Capital Investment / Paid-up Capital :

Rs.0.100 Million

 

 

CIN No.:

[Company Identification No.]

U17226KL2005PTC017785

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

TVDE00222F

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Manufacturer of Various Types of Floor Coverings.

 

 

No. of Employees :

Not Available

 

 

RATING & COMMENTS

 

MIRA’s Rating :

B (27)

 

RATING

STATUS

 

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Maximum Credit Limit :

USD 1000000

 

 

Status :

Moderate

 

 

Payment Behaviour :

Slow

 

 

Litigation :

Clear

 

 

Comments :

Subject is an established company having moderate track. There appears some accumulated losses recorded by the company. However, with some improvement in financial position the company is trying to wiping off its accumulated losses. Trade relations are reported as fair. Business is active. Payments are reported to be slow.

 

The company can be considered for business dealings with some cautions.

 

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 / Factory :

Building No. 264, Saktheeswaram  Junction, Cherthala, P O Box – 74, Alleppey-688524, Kerala, India

Tel. No.:

91-478-2812528

Fax No.:

91-478-2822906

E-Mail :

marketing@extraweave.com

finance@extraweave.com

ewpl@extraweave.com

Website :

http://www.extraweave.com

 

 

DIRECTORS

 

As on 29.09.2011

 

Name :

Mr. Santosh Veliyil Velayudhan

Designation :

Managing Director

Address :

Jovial Bunglow, Velorvattom, Cherthala – 688524, Alleppey, Kerala, India

Date of Birth/Age :

13.09.1956

Date of Appointment :

12.03.2007

Din No.:

00465132

Other Directorship:

S. No.

CIN/LLPIN

Name of the Company/ LLP

Current designation of the Director/ Designated Partner

Date of appointment at current designation

Original date of appointment

Company/ LLP Status

Defaulting status

1

U18101KL1995PLC008865

TRAVANCORE TRENDS LIMITED

Whole-time director

31/03/1995

31/03/1995

Active

NO

2

U17117KL1995PTC009503

TRAVANCORE WOOLS AND WEAVES PRIVATE LIMITED

Managing director

10/10/1995

10/10/1995

Under liquidation

NO

3

U17115KL1999PTC013276

WILTON WEAVERS PRIVATE LIMITED

Managing director

06/09/1999

06/09/1999

Active

NO

4

U17214KL2000PTC013734

TRAVANCORE COCOTUFT PRIVATE LIMITED

Director

03/03/2000

03/03/2000

Active

NO

5

U17226KL2005PTC017785

EXTRAWEAVE PRIVATE LIMITED

Director

13/01/2005

13/01/2005

Active

NO

6

U17117KL2006PTC019853

UNITED SPINNERS PRIVATE LIMITED

Director

18/09/2006

18/09/2006

Active

NO

7

U85199KL2006PTC019152

KINDER MEDICAL SERVICES PRIVATE LIMITED

Director

25/06/2009

25/06/2009

Active

NO

8

U70100KL2011PTC028229

NIHANTA REALITIES PRIVATE LIMITED

Director

26/04/2011

26/04/2011

Active

NO

9

U35999KL2011PTC028293

INDIA METAL CONSTRUCTION PRIVATE LIMITED

Director

03/05/2011

03/05/2011

Active

NO

 

 

Name :

Mr. Veliyil  Velayudhan Pavithran

Designation :

Director

Address :

Lakshmi Sadanam, Maruthorvattom, Cherthala – 688524, Allepppey, Kerala, India

Date of Birth/Age :

16.01.1932

Date of Appointment :

13.01.2005

Din No.:

00026418

Other Directorship:

S. No.

CIN/LLPIN

Name of the Company/ LLP

Current designation of the Director/ Designated Partner

Date of appointment at current designation

Original date of appointment

Company/ LLP Status

Defaulting status

1

U18101KL1995PLC008865

TRAVANCORE TRENDS LIMITED

Director

31/03/1995

31/03/1995

Active

NO

2

U17117KL1995PTC009503

TRAVANCORE WOOLS AND WEAVES PRIVATE LIMITED

Director

10/10/1995

10/10/1995

Under liquidation

NO

3

U17115KL1999PTC013276

WILTON WEAVERS PRIVATE LIMITED

Director

06/09/1999

06/09/1999

Active

NO

4

U17214KL2000PTC013734

TRAVANCORE COCOTUFT PRIVATE LIMITED

Managing director

03/03/2000

03/03/2000

Active

NO

5

U17226KL2005PTC017785

EXTRAWEAVE PRIVATE LIMITED

Director

13/01/2005

13/01/2005

Active

NO

6

U17119KL2005PTC018518

ALAPPUZHA NATURAL FIBRE INFRASTRUCTURE DEVELOPMENT COMPANY PRIVATE LIMITED

Director

30/03/2006

30/03/2006

Active

NO

7

U17117KL2006PTC019853

UNITED SPINNERS PRIVATE LIMITED

Director

18/09/2006

18/09/2006

Active

NO

8

U91200KL1939NPL000034

ASSOCIATED COTTAGE INDUSTRIES AND SHIPPERS UNION

Director

29/09/2007

29/09/2007

Active

NO

9

U91900KL2009NPL024281

FEDERATION OF INDIAN COIR EXPORTERS' ASSOCIATIONS

Nominee director

08/06/2009

08/06/2009

Active

NO

 

 

Name :

Mr. Velayudhan Ravindra Prasad

Designation :

Director

Address :

Asha Bhavan, Velorvattom, Cherthala – 688524, Alleppey, Kerala, India

Date of Birth/Age :

01.10.1934

Date of Appointment :

13.01.2005

Din No.:

00026426

Other Directorship:

S. No.

CIN/LLPIN

Name of the Company/ LLP

Current designation of the Director/ Designated Partner

Date of appointment at current designation

Original date of appointment

Company/ LLP Status

Defaulting status

1

U18101KL1995PLC008865

TRAVANCORE TRENDS LIMITED

Managing director

03/05/1995

03/05/1995

Active

NO

2

U17117KL1995PTC009503

TRAVANCORE WOOLS AND WEAVES PRIVATE LIMITED

Director

10/10/1995

10/10/1995

Under liquidation

NO

3

U17115KL1999PTC013276

WILTON WEAVERS PRIVATE LIMITED

Director

06/09/1999

06/09/1999

Active

NO

4

U17214KL2000PTC013734

TRAVANCORE COCOTUFT PRIVATE LIMITED

Director

03/03/2000

03/03/2000

Active

NO

5

U17226KL2005PTC017785

EXTRAWEAVE PRIVATE LIMITED

Director

13/01/2005

13/01/2005

Active

NO

6

U17117KL2006PTC019853

UNITED SPINNERS PRIVATE LIMITED

Director

18/09/2006

18/09/2006

Active

NO

7

U35999KL2011PTC028293

INDIA METAL CONSTRUCTION PRIVATE LIMITED

Director

03/05/2011

03/05/2011

Active

NO

8

U55101KL2011PTC028391

LUCKY LAKE RESORTS PRIVATE LIMITED

Director

13/05/2011

13/05/2011

Active

NO

 

 

Name :

Mr. Veliyil Velayudhan Pyarelal

Designation :

Director

Address :

Saraswatham, Cherthala – 688524, Alleppey, Kerala, India

Date of Birth/Age :

19.10.1943

Date of Appointment :

29.01.2007

Din No.:

02095050

Other Directorship:

S. No.

CIN/LLPIN

Name of the Company/ LLP

Current designation of the Director/ Designated Partner

Date of appointment at current designation

Original date of appointment

Company/ LLP Status

Defaulting status

1

U18101KL1995PLC008865

TRAVANCORE TRENDS LIMITED

Director

31/03/1995

31/03/1995

Active

NO

2

U17226KL2005PTC017785

EXTRAWEAVE PRIVATE LIMITED

Director

29/01/2007

29/01/2007

Active

NO

 

 

Name :

Mr. Veliyil Velayudhan Haridas

Designation :

Director

Address :

Krishna, Maruthorvattom, Cherthala – 688524, Alleppey, Kerala, India

Date of Birth/Age :

12.09.1942

Date of Appointment :

29.01.2007

Din No.:

01862690

Other Directorship:

S. No.

CIN/LLPIN

Name of the Company/ LLP

Current designation of the Director/ Designated Partner

Date of appointment at current designation

Original date of appointment

Date of cessation

Company/ LLP Status

Defaulting status

1

U18101KL1995PLC008865

TRAVANCORE TRENDS LIMITED

Director

31/03/1995

31/03/1995

-

Active

NO

2

U17226KL2005PTC017785

EXTRAWEAVE PRIVATE LIMITED

Director

29/01/2007

29/01/2007

-

Active

NO

3

U85110KL2008PTC021642

KINDER WOMENS HOSPITAL AND FERTILITY CENTRE PRIVATE LIMITED

Director

07/01/2008

07/01/2008

14/01/2011

Active

NO

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

As on 29.09.2011

 

Names of Shareholders

 

No. of Shares

Veliyil  Velayudhan Pavithran

 

180

Velayudhan Ravindra Prasad

 

180

Santosh Veliyil Velayudhan

 

180

Veliyil Velayudhan Haridas

 

180

Veliyil Velayudhan Pyarelal

 

180

K. Prasanna Kumari

 

50

Girijakumari K.

 

50

 

 

 

Total

 

1000

 

As on 29.09.2011

 

Equity Share Breakup

 

Percentage of Holding

Category

 

 

Directors or relatives of directors

 

100.00

 

 

BUSINESS DETAILS

 

Line of Business :

Manufacturer of Various Types of Floor Coverings.

 

 

GENERAL INFORMATION

 

No. of Employees :

Not Available

 

 

Bankers :

State Bank of Travancore, Cherthala Branch, Alappuzha-688524, Kerala, India

 

 

Facilities :

SECURED LOAN

As on 31.03.2011

[Rs. in Millions]

As on 31.03.2010

[Rs. in Millions]

Medium Term Loan

 

 

State Bank of Travancore Medium Term Loan

17.687

136.894

KFC Medium Term Loan

148.598

0.000

Working Capital Loan

 

 

Export Packing Credit Loan and Bank Overdraft

78.548

101.589

Hire Purchase Loan

 

 

Hire Purchase Loan From Sundaram Finance

0.000

0.073

Hire Purchase Loan From Reliance Capital

0.016

0.208

Interest Suspense Account

0.000

(0.013)

Total

244.849

238.751

 

NOTE:

 

Credit facilities from Banks are secured by way of:

 

1.       Hypothecation of raw materials, stock-in-process, finished goods, book debts.

2.       Secured by a first charge, by way of equitable mortgage of factory land and building and hypothecation of plant and machinery.

3.       Is guaranteed by directors.

 

 

 

UNSECURED LOAN

As on 31.03.2011

[Rs. in Millions]

As on 31.03.2010

[Rs. in Millions]

Loan From Directors

1.033

1.033

Total

1.033

1.033

 

 

 

Banking Relations :

--

 

 

Auditors :

 

Name :

M P Krishna Kumar and Associates

Chartered Accountants

Address :

P B # 2406, Padinjare Madom, Behind Thondankulangara Siva Temple, Avalukkunnu, Alappuzha-688006, Kerala, India

Tel. No.:

91-477-2234555

Mobile No.:

91-9446855966/9446577199

E-Mail :

mpkaudit@sancharnet.in

mpkca@dataone.in

Pan No.:

AADPI2540Q

 

 

Associates :

·         Travancore Cocotuft Private Limited

·         Travancore Mats and Matting Company

·         United Spinners Private Limited

·         Wilton Weavers Private Limited

 

 

CAPITAL STRUCTURE

 

As on 31.03.2011

 

Authorised Capital :

No. of Shares

Type

Value

Amount

3600000

Equity Shares

Rs.100/- each

Rs.360.000 Millions

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

1000

Equity Shares

Rs.100/- each

Rs.0.100 Million


 

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

0.100

0.100

0.100

2] Share Application Money

254.134

254.134

254.134

3] Reserves & Surplus

0.000

0.000

0.000

4] (Accumulated Losses)

(3.856)

(20.885)

(33.833)

NETWORTH

250.378

233.349

220.401

LOAN FUNDS

 

 

 

1] Secured Loans

244.849

238.751

214.781

2] Unsecured Loans

1.033

1.033

0.033

TOTAL BORROWING

245.882

239.784

214.814

DEFERRED TAX LIABILITIES

0.000

0.952

2.602

 

 

 

 

TOTAL

496.260

474.085

437.817

 

 

 

 

APPLICATION OF FUNDS

 

 

 

 

 

 

 

FIXED ASSETS [Net Block]

207.399

241.691

244.705

Capital work-in-progress

17.121

11.043

48.346

 

 

 

 

INVESTMENT

10.200

10.200

10.200

DEFERREX TAX ASSETS

2.821

0.000

0.000

 

 

 

 

CURRENT ASSETS, LOANS & ADVANCES

 

 

 

 

Inventories

79.287

103.354

98.655

 

Sundry Debtors

42.910

62.730

25.460

 

Cash & Bank Balances

83.334

27.170

9.701

 

Other Current Assets

19.359

14.659

14.365

 

Loans & Advances

64.974

46.623

39.627

Total Current Assets

289.864

254.536

187.808

Less : CURRENT LIABILITIES & PROVISIONS

 

 

 

 

Sundry Creditors

24.957

41.784

52.123

 

Other Current Liabilities

3.408

0.034

0.077

 

Provisions

3.608

2.808

2.696

Total Current Liabilities

31.973

44.626

54.896

Net Current Assets

257.891

209.910

132.912

 

 

 

 

MISCELLANEOUS EXPENSES

0.828

1.241

1.654

 

 

 

 

TOTAL

496.260

474.085

437.817

 


PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

31.03.2011

31.03.2010

31.03.2009

 

SALES

 

 

 

 

 

Income

474.132

456.827

294.251

 

 

Other Income

5.080

1.459

46.602

 

 

TOTAL                                     (A)

479.212

458.286

340.853

 

 

 

 

 

Less

EXPENSES

 

 

 

 

 

Operating Expenses

383.534

362.828

289.050

 

 

Stock Differential

7.821

11.616

20.354

 

 

Prior Period Expenses

0.000

2.224

0.000

 

 

TOTAL                                     (B)

391.355

376.668

309.404

 

 

 

 

 

Less

PROFIT / (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B)      (C)

87.857

81.618

31.449

 

 

 

 

 

Less

FINANCIAL EXPENSES                         (D)

28.672

26.106

26.669

 

 

 

 

 

 

PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D)                                (E)

59.185

55.512

4.780

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION                     (F)

45.929

44.214

35.962

 

 

 

 

 

 

PROFIT / (LOSS) BEFORE TAX (E-F)                (G)

13.256

11.298

(31.182)

 

 

 

 

 

Less

TAX                                                                  (H)

(3.773)

(1.650)

2.602

 

 

 

 

 

 

PROFIT / (LOSS) AFTER TAX (G-H)                  (I)

17.029

12.948

(33.784)

 

 

 

 

 

 

EARNINGS IN FOREIGN CURRENCY

 

 

 

 

 

Export Earnings

453.526

431.341

271.456

 

 

 

 

 

 

Earnings / (Loss) Per Share (Rs.)

17029.00

12948.00

(33784.00)

 

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2011

31.03.2010

31.03.2009

PAT / Total Income

(%)

3.55

2.83

(9.91)

 

 

 

 

 

Net Profit Margin

(PBT/Sales)

(%)

2.80

2.47

(10.60)

 

 

 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)

2.67

2.27

(7.20)

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

0.05

4.84

(0.14)

 

 

 

 

 

Debt Equity Ratio

(Total Liability/Networth)

 

1.10

1.22

1.22

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

9.07

5.70

3.42

 

 

LOCAL AGENCY FURTHER INFORMATION

 

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

No

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

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

 

PERFORMANCE REVIEW:

 

During the year ended 31st March 11, the company posted a net profit of Rs.17.029 Millions and an operating profit of Rs.87.857 Millions. During the year the company was able to overcome the effect of recession and improve its sales and net profit considerably. Considering the fact that the effect of recession is not fully over, the performance of the company in satisfactory.

 

FUTURE PROSPECTS:

 

The company is making every attempt to penetrate the overseas market by offering new and innovative products at competitive prices. These initiatives in the domestic and export market are expected to yield good results in the ensuing years.

 

BANKERS CHARGES REPORT AS PER REGISTRY

 

This form is for

Modification of charge

Charge identification number of the modified 

10162697

Corporate identity number of the company

U17226KL2005PTC017785

Name of the company

EXTRAWEAVE PRIVATE LIMITED

Address of the registered office or of the principal place of  business in India of the company

Building No. 264, Saktheeswaram  Junction, Cherthala, P O Box – 74, Alleppey-688524, Kerala, India

Type of charge

Immovable Property

Particular of charge holder

State Bank of Travancore, Cherthala Branch, Alappuzha-688524, Kerala, India

Email 

cherthala@sbt.co.in

Nature of description of the instrument creating or modifying the charge

Letter from bank

Date of instrument Creating the charge

06.05.2010

Amount secured by the charge

Rs.495.500 Millions

Brief particulars of the principal terms an conditions and extent and operation of the charge

Rate of Interest

As stipulated by bank from time to time.

 

Terms of Repayment

As stipulated by bank from time to time.

 

Margin

As stipulated by bank from time to time.

 

Extent and Operation of the charge

As stipulated by bank from time to time.

Short particulars of the property charged

State Bank of Travancore to have second charge on Sale Deed No.1412/08 dated 10/07/2008 of SRO Pattanakad comprised of 287.29 Ares, 275.15 Ares of Pattanakad Village, Cherthala Taluk, Alleppey District.

 

State Bank of Travancore to have second charge over Plant and Machinery belonging to the Company.

Particulars of the present modification 

1. State Bank of Travancore to have second charge on Sale Deed No.1412/08 dated 10/07/2008 of SRO Pattanakad comprised of 287.29 Ares, 275.15 Ares of Pattanakad Village, Cherthala Taluk, Alleppey District, and Kerala Financial Corporation, Alappuzha to have first charge.

 

2. State Bank of Travancore to have second charge over Plant and Machinery belonging to the Company, and Kerala Financial Corporation, Alappuzha to have first charge.

 

 


CMT REPORT (Corruption, Money Laundering & Terrorism]

 

The Public Notice information has been collected from various sources including but not limited to: The Courts, India Prisons Service, Interpol, etc.

 

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.55.15

UK Pound

1

Rs.86.30

Euro

1

Rs.67.73

 

 

INFORMATION DETAILS

 

Report Prepared by :

TPT


 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

3

PAID-UP CAPITAL

1~10

3

OPERATING SCALE

1~10

3

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

3

--PROFITABILIRY

1~10

3

--LIQUIDITY

1~10

3

--LEVERAGE

1~10

3

--RESERVES

1~10

3

--CREDIT LINES

1~10

3

--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

 

27

 

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

-

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.