|
Report Date : |
21.07.2012 |
IDENTIFICATION DETAILS
|
Name : |
E-MALL INFOTECH PRIVATE LIMITED |
|
|
|
|
Formerly Known
As : |
ACHAL COMPUTECH PRIVATE LIMITED SHREE SAI COMPUTECH PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
20, First Floor, Super Plaza, Sandesh Press Road, P.O. Bodakdev,
Vastrapur, Ahmedabad-380054, Gujarat |
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|
|
|
Country : |
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|
|
|
|
Financials (as
on) : |
31.03.2011 |
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|
|
|
Date of
Incorporation : |
24.07.1997 |
|
|
|
|
Com. Reg. No.: |
04-032724 |
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|
|
|
Capital
Investment / Paid-up Capital : |
Rs.75.000
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U32100GJ1997PTC032724 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
AHMS02139E |
|
|
|
|
PAN No.: [Permanent Account No.] |
AADCS0300B |
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|
|
|
Legal Form : |
Private Limited Liability
Company |
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|
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|
Line of Business
: |
Dealing in Sales of Computer Hardware and Accessories. |
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|
|
|
No. of Employees
: |
Not Available |
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 1370000 |
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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 a subsidiary of Sai Infosystem (India) Limited. It is an established
company having satisfactory track. The company has achieved an increase in
its sales and profitability during 2011. Trade relations are reported as
decent. 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) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
EXTERNAL AGENCY RATING
|
Agency Name |
Rating |
|
CRISIL |
BBB |
Rating Explanations
|
AAA (Highest Safety) |
Instruments with this
rating are considered to have the highest degree of safety regarding timely
servicing of financial obligations. Such instruments carry lowest credit
risk. |
|
AA (High Safety) |
Instruments with this
rating are considered to have high degree of safety regarding timely
servicing of financial obligations. Such instruments carry very low credit
risk. |
|
A (Adequate Safety) |
Instruments with this
rating are considered to have adequate degree of safety regarding timely
servicing of financial obligations. Such instruments carry low credit risk. |
|
BBB (Moderate Safety) |
Instruments with this
rating are considered to have moderate degree of safety regarding timely
servicing of financial obligations. Such instruments carry moderate credit
risk. |
|
BB (Moderate Risk) |
Instruments with this
rating are considered to have moderate risk of default regarding timely
servicing of financial obligations. |
|
B (High Risk) |
Instruments with this rating
are considered to have high risk of default regarding timely servicing of
financial obligations. |
|
C (Very High Risk) |
Instruments with this
rating are considered to have very high risk of default regarding timely
servicing of financial obligations. |
|
D (Default) |
Instruments with this
rating are in default or are expected to be in default soon. |
LOCATIONS
|
Registered Office : |
20, First Floor, Super Plaza, Sandesh Press Road, P.O. Bodakdev, Vastrapur,
Ahmedabad-380054, Gujarat, India |
|
Tel. No.: |
91-79-30110411 / 30110400 |
|
Fax No.: |
91-79-26753434 / 26763072 |
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E-Mail : |
|
|
Website : |
DIRECTORS
As on 28.09.2011
|
Name : |
Mr. Maheshchander Mulkhraj Julka |
|
Designation : |
Director |
|
Address : |
B/104, Sagar Tower, Premchandnagar Road, Ahmedabad-380015, Gujarat,
India |
|
Date of Birth/Age : |
26.11.1944 |
|
Date of Appointment : |
01.04.2008 |
|
Din No.: |
00153180 |
|
|
|
|
Name : |
Mr. Sunil Surendrabhai Kakkad |
|
Designation : |
Director |
|
Address : |
3, Ashwaraj Bunglows, Near Auda Garden, Prahaladnagr Road, Satellite,
Ahmedabad-380015, Gujarat, India |
|
Date of Birth/Age : |
10.05.1971 |
|
Date of Appointment : |
09.07.2011 |
|
Din No.: |
00613257 |
|
|
|
|
Name : |
Mr. Rajeev Gupta |
|
Designation : |
Whole Time Director |
|
Address : |
N-504, Indraprashta-6, Near Prahladnagar Garden, Prahaladnagr Road,
Satellite, Ahmedabad-380015, Gujarat, India |
|
Date of Birth/Age : |
18.06.1972 |
|
Date of Appointment : |
29.11.2010 |
|
Din No.: |
03351442 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 28.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
Sai Infosystem (India) Limited, India |
|
7499999 |
|
Sunil Surendrabhai Kakkad |
|
1 |
|
|
|
|
|
Total |
|
7500000 |
As on 28.09.2011
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Bodies
corporate |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Dealing in Sales of Computer Hardware and Accessories. |
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Products : |
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GENERAL INFORMATION
|
No. of Employees : |
Not Available |
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Bankers : |
·
Axis Bank Limited, 3rd Floor, Trishul
Opposite Samartheswar Temple, Law Garden, Ellisbridge, Ahmedabad-380009,
Gujarat, India ·
State Bank of India, Industrial Finance Branch,
Near Nehru Bridge, Ashram Road, Ahmedabad-380009, Gujarat, India |
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Facilities : |
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Banking
Relations : |
-- |
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|
|
|
Auditors : |
|
|
Name : |
Dharmesh Parikh and Company Chartered Accountants |
|
Address : |
303/304, Milestone, Near Drive in Cinema, Opposite T.V. Tower,
Thaltej, Ahmedabad-380054, Gujarat, India |
|
Tel. No.: |
91-79-27474466 |
|
Fax No.: |
91-79-27479955 |
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Pan No.: |
AAGFD1279G |
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|
|
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Holding Company : |
Sai Infosystem (India) Limited |
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|
|
|
Associate : |
Computer.com (Formerly Sai Compuserve)
|
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 |
|
7500000 |
Equity Shares |
Rs.10/- each |
Rs.75.000
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 |
75.000 |
75.000 |
60.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
269.121 |
188.931 |
116.260 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
344.121 |
263.931 |
176.260 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
293.883 |
247.144 |
165.374 |
|
|
2] Unsecured Loans |
60.380 |
60.390 |
60.380 |
|
|
TOTAL BORROWING |
354.263 |
307.534 |
225.754 |
|
|
DEFERRED TAX LIABILITIES |
1.167 |
0.000 |
2.786 |
|
|
|
|
|
|
|
|
TOTAL |
699.551 |
571.465 |
404.800 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
65.397 |
80.815 |
102.310 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
2.501 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
8.246 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
390.019
|
221.683 |
118.965 |
|
|
Sundry Debtors |
723.713
|
603.040 |
457.748 |
|
|
Cash & Bank Balances |
18.907
|
18.874 |
9.962 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
90.300
|
60.964 |
34.655 |
|
Total
Current Assets |
1222.939
|
904.561 |
621.330 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
550.084
|
400.102 |
298.138 |
|
|
Other Current Liabilities |
20.466
|
7.191 |
12.346 |
|
|
Provisions |
20.798
|
15.063 |
8.690 |
|
Total
Current Liabilities |
591.348
|
422.356 |
319.174 |
|
|
Net Current Assets |
631.591
|
482.205 |
302.156 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.062 |
0.199 |
0.334 |
|
|
|
|
|
|
|
|
TOTAL |
699.551 |
571.465 |
404.800 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
3333.492 |
2820.230 |
2500.071 |
|
|
|
Other Income |
8.184 |
11.360 |
8.248 |
|
|
|
TOTAL (A) |
3341.676 |
2831.590 |
2508.319 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Sales and Services |
3121.040 |
2653.298 |
2357.000 |
|
|
|
Administrative, Selling and Other Expenses |
48.704 |
47.047 |
48.751 |
|
|
|
Preliminary Expenses Written Off |
0.136 |
0.136 |
0.136 |
|
|
|
Prior Period Expenses |
0.000 |
0.010 |
0.087 |
|
|
|
TOTAL (B) |
3169.880 |
2700.491 |
2405.974 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
171.796 |
131.099 |
102.345 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
46.084 |
33.220 |
22.410 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
125.712 |
97.879 |
79.935 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
15.866 |
22.240 |
10.373 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
109.846 |
75.639 |
69.562 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
29.655 |
2.968 |
11.489 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
80.191 |
72.671 |
58.073 |
|
|
|
|
|
|
|
|
|
|
Earnings / (Loss)
Per Share (Rs.) |
10.69 |
10.11 |
9.68 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
2.40
|
2.57 |
2.32 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
3.30
|
2.68 |
2.78 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
8.53
|
7.67 |
9.61 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.32
|
0.29 |
0.39 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
2.75
|
2.77 |
3.09 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.07
|
2.14 |
1.95 |
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 |
OPERATIONS:
The operation of
the Company has significantly increased as compare with the Last year. The
total revenue of the company was increased from Rs. 2820.230 Millions to Rs.
3333.491 Millions registering a growth of 18%.
The profit before
depreciation, tax and interest of the company (PBDIT) has also increased from
Rs. 131.108 Millions to Rs. 171.795 Millions which is up by 31%. The net profit
after tax has increased to Rs 80.190 Millions as compared to previous year's
net profit of Rs. 72.767 Millions which is up by 10%.
Beside retail
business, E-mall is also expanding its business activity in the field of Sales
and supply of IT Hardware, Servers Video Phones, various applications and
solutions, System Integrator.
BANKERS CHARGES
REPORT AS PER REGISTRY
|
This form is for |
Modification of
charge |
|
Charge
identification number of the modified |
10084105 |
|
Corporate
identity number of the company |
U32100GJ1997PTC032724 |
|
Name of the
company |
E-MALL INFOTECH
PRIVATE LIMITED |
|
Address of the registered
office or of the principal place of
business in |
20, First Floor, Super Plaza, Sandesh Press Road, P.O. Bodakdev,
Vastrapur, Ahmedabad-380054, Gujarat, India |
|
Type of charge |
Immovable
Property |
|
Particular of charge
holder |
State Bank of India, Industrial Finance Branch, Near Nehru Bridge,
Ashram Road, Ahmedabad-380009, Gujarat, India |
|
Email |
|
|
Nature of
description of the instrument creating or modifying the charge |
Memorandum
relating to deposit of title deeds for creation of further charge for overall
limit where the initial charge is created by way of mortgage by deposit of
title deeds dated 24th August 2011 |
|
Date of instrument
Creating the charge |
24.08.2011 |
|
Amount secured by
the charge |
Rs.480.000
Millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest Working capital
loan : base rate +4.60 % SLC (stand line
credit - FB) : 1 % above working capital loan's rate Terms of
Repayment Working capital
loan: on demand SLC: on demand Margin Facility Margins Raw material 25% Finished
goods 25% Book debts 40% LC 10% BG PG: 25%
FG: 15% SLC Nil Extent and
Operation of the charge The enhanced
facilities of Rs. 480.000 Millions shall have the first charge over the
movable and immovable properties of the company as per the supplemental loan
documents dated 13/01/2011 and on 24th August 2011. |
|
Short particulars
of the property charged |
All movable
assets in the form of furniture/fixtures, interiors, plant / machinery etc.
and immovable properties of the company situated at super Plaza, Vastrapur,
Ahmedabad and Dantali, Kalol, Gandhinagar Immovable
properties of the company situated at Celler, Movie Plex Theater, village Gota, Taluka
Dascroi, District Ahmedabad. As per
supplemental loan documents along with supplemental deed of hypothecation and
memorandum of deposit of title deeds dated 13th January 2011. As per memorandum
relating to deposit of title deeds for creation of further charge for overall
limit where the initial charge is created by way of mortgage by deposit of
title deeds dt.24th August 2011 |
|
Date of latest
modification prior to the present modification |
13.01.2011 |
|
Particulars of
the present modification |
By this
modification, loan facilities of Rs. 480.000 Millions granted by state bank
of India, IFB branch, Ahmedabad is further secured by additional immovable
properties as per memorandum of deposit of title deeds dated 24th August
2011. |
CONTINGENT LIABILITIES NOT PROVIDED FOR:
|
Particulars |
31.03.2011 (Rs. in millions) |
31.03.2010 (Rs. in millions) |
|
Bank guarantee
and letter of credit |
128.882 |
39.725 |
|
In respect of corporate
guarantee given for loan taken by parent company |
5890.000 |
4150.000 |
|
Total |
6018.882 |
4189.725 |
FIXED ASSETS:
·
Land
·
Office Building
·
Factory Building
·
Plant, Machinery and
Equipments
·
Computers
·
Furniture and Fixtures
·
Electrical Fittings
·
Vehicles
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No 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 |
|
|
1 |
Rs.86.57 |
|
Euro |
1 |
Rs.67.60 |
INFORMATION DETAILS
|
Report Prepared
by : |
TPT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
6 |
|
--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 |
|
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.