MIRA
INFORM REPORT
|
Report Date : |
28.07.2012 |
IDENTIFICATION DETAILS
|
Name : |
LAXMI DIAMOND PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
416, Prasad Chambers, Opera House, Mumbai-400004, |
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Country : |
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|
Financials (as
on) : |
31.03.2011 |
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|
Date of
Incorporation : |
12.04.2006 |
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|
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|
Com. Reg. No.: |
11-161091 |
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|
|
Capital
Investment / Paid-up Capital : |
Rs.173.367
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U36911MH2006PTC161091 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUML06215G |
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|
|
PAN No.: [Permanent Account No.] |
AABCL1815G |
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|
|
Legal Form : |
Private Limited Liability Company |
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|
|
|
Line of Business
: |
Manufacturer of Exporter of
Diamonds. |
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|
|
|
No. of Employees
: |
11000 (Approximately) |
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 10000000 |
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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.
EPF (Employee Provident Fund) DEFAILTERS’ 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.
RBI DEFAILTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
INFORMATION PARTED BY
|
Name : |
Mr. John |
|
Designation : |
Chief Account Manager |
|
Contact No.: |
91-22-23677007 |
|
Date : |
27.07.2012 |
LOCATIONS
|
Registered / Head Office / Factory : |
416, Prasad Chambers, Opera House, Mumbai – 400004, |
|
Tel. No.: |
91-22-23696643 / 23696645/ 23677007/ 40502222 |
|
Fax No.: |
91-22-23670390 |
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E-Mail : |
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Website: |
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|
Area: |
5000 Sq.ft |
|
Location : |
Owned |
|
|
|
|
Corporate Office : |
New |
|
Tel. No.: |
91-261-2542532 |
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Fax No.: |
91-261-2541623 |
|
E-Mail : |
DIRECTORS
As on 29.09.2011
|
Name : |
Mr. Mitesh Chunilal Gajera |
|
Designation : |
Director |
|
Address : |
21/22 Floor, Suraj Apartments, 71, |
|
Date of Birth/Age : |
10.03.1982 |
|
Date of Appointment : |
20.03.2008 |
|
Din No.: |
01011862 |
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|
|
|
Name : |
Mrs. Sunitaben Chunibhai Gajera |
|
Designation : |
Director |
|
Address : |
49-50, Vishnu Nagar Society, New A. K. Road, Surat-395001, Gujarat,
India |
|
Date of Birth/Age : |
12.10.1963 |
|
Date of Appointment : |
22.04.2006 |
|
Din No.: |
00147762 |
|
Voter ID No.: |
KMV1108794 |
|
|
|
|
Name : |
Mr. Ashokbhai Haribhai Gajera |
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Designation : |
Whole Time Director |
|
Address : |
31, Kalpavrukh Apartment, 27, B.G. Kher Marg, Walkeshwar,
Mumbai-395001, |
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Date of Birth/Age : |
01.06.1965 |
|
Date of Appointment : |
12.04.2006 |
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Din No.: |
00147819 |
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|
|
|
Name : |
Mr. Chunibhai Haribhai Gajera |
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Designation : |
Whole Time Director |
|
Address : |
67, Adarsh Society, Athwalines, Surat-395001, |
|
Date of Birth/Age : |
05.07.1960 |
|
Date of Appointment : |
12.04.2006 |
|
Din No.: |
00147830 |
|
Voter ID No.: |
GJ/24/171/141359 |
|
|
|
|
Name : |
Mr. Vasantbhai Haribhai Gajera |
|
Designation : |
Managing Director |
|
Address : |
1, Vrushal Nagar Society, Near Katargam Police Station, Katargam,
Surat-395008, |
|
Date of Birth/Age : |
01.06.1954 |
|
Date of Appointment : |
12.04.2006 |
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Din No.: |
00147855 |
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|
|
|
Name : |
Mr. Nitinbhai Chunibhai Gajera |
|
Designation : |
Director |
|
Address : |
49-50, Vishnu Nagar Society, New A. K. Road, Surat-395008, Gujarat,
India |
|
Date of Birth/Age : |
11.06.1984 |
|
Date of Appointment : |
12.04.2006 |
|
Din No.: |
00147866 |
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Voter ID No.: |
GBV8464315 |
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|
|
|
Name : |
Mrs. Sarojben Ashokbhai Gajera |
|
Designation : |
Director |
|
Address : |
31, Kalpavruksha Apartments, 27, B. G. Kher Marg, Walkeshwar,
Mumbai-400006, |
|
Date of Birth/Age : |
27.08.1969 |
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Date of Appointment : |
22.04.2006 |
|
Din No.: |
00743941 |
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|
|
|
Name : |
Mr. Lalitkumar Dhirajlal Gajera |
|
Designation : |
Director |
|
Address : |
43-44, Kantareshwar Society, Behind Ananbd Ashram, Katargam,
Surat-395004, |
|
Date of Birth/Age : |
03.05.1972 |
|
Date of Appointment : |
04.07.2007 |
|
Din No.: |
01624264 |
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Voter ID No.: |
GJ/24/171/141036 |
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|
|
|
Name : |
Mr. Samrat Ajay Chokshi |
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Designation : |
Director |
|
Address : |
204, Virat Apartments, Dwalibag, Athwagate, Surat-395001, |
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Date of Birth/Age : |
18.01.1978 |
|
Date of Appointment : |
04.07.2007 |
|
Din No.: |
01627380 |
KEY EXECUTIVES
|
Name : |
Mr. John |
|
Designation : |
Chief Account Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 29.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
Vasantbhai Harijbhai Gajera |
|
4500000 |
|
Ashokbhai Harijbhai Gajera |
|
4900000 |
|
Chunibhai Harijbhai Gajera |
|
3660000 |
|
Nitinbhai Chunibhai Gajera |
|
700000 |
|
Bhavnaben Vasantbhai Gajera |
|
350000 |
|
Sarojben Ashokbhai Gajera |
|
750000 |
|
Sunitaben Chunibhai Gajera |
|
140000 |
|
Rakesh G Gajera (Repatriable) |
|
2336740 |
|
|
|
|
|
Total |
|
17336740 |
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 and Exporter of Diamonds. |
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Exports : |
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Products : |
Diamonds |
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Countries : |
·
·
·
·
Asian Country etc. |
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Imports : |
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Products : |
Ruff Diamonds |
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Countries : |
·
·
·
·
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Terms : |
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Selling : |
Cash/Credit |
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Purchasing : |
Cash/Credit |
PRODUCTION STATUS [AS ON 31.03.2010]
|
Particulars |
Unit |
Actual
Production |
|
Processed Polished Diamonds |
Carats |
463722.48 |
|
Studded Jewellery |
Gms |
Nil |
GENERAL INFORMATION
|
Customers : |
Retailers, End users |
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No. of Employees : |
11000 (Approximately) |
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Bankers : |
·
State Bank of Saurashtra, 1st Floor,
Diamond Queen, 198, Rajaram Mohan Roy Marg, Girgaon, Mumbai – 400004,
Maharashtra, India ·
State Bank of India, Diamond Branch, 1st
Floor, Majestic Shopping Centre, Majestic Shopping Centre, 144, J.S.S. Road,
Girgaon, Mumbai-400004, Maharashtra, India ·
Bank of India, Lead Bank and 3 Others Seepz Mid
Corporate Branch, |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
Ramesh Rajni and Company Chartered Accountant |
|
Address : |
1st Floor, |
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Tel. No.: |
91-22-23669708/ 23669709/ 23618386 |
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Fax No.: |
91-22-23631810 |
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E-Mail : |
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PAN No.: |
AAFFR7782K |
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|
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Associates : |
·
Laxmi Dia Jewel Private limited, ·
Laxmi Diamond (HK) Limited, ·
Shree Laxmi Info Solution and Jewellery Limited |
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|
|
|
Subsidiaries : |
·
Suberi Bros. ·
Komal ·
Dhanamall Silk Mills Private Limited
[U99999MH1971PTC015201] |
CAPITAL STRUCTURE
As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
18000000 |
Equity Shares |
Rs.10/- each |
Rs.180.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
17336740 |
Equity Shares |
Rs.10/- each |
Rs.173.367
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 |
173.367 |
173.367 |
150.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
2552.006 |
2079.413 |
1381.542 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
2725.373 |
2252.780 |
1531.542 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
4483.373 |
4687.493 |
5031.717 |
|
|
2] Unsecured Loans |
95.169 |
587.178 |
903.082 |
|
|
TOTAL BORROWING |
4578.542 |
5274.671 |
5934.799 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
7303.915 |
7527.451 |
7466.341 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
848.960 |
816.395 |
815.316 |
|
|
Capital work-in-progress |
1.187 |
0.000 |
0.012 |
|
|
|
|
|
|
|
|
INVESTMENT |
209.729 |
209.481 |
206.846 |
|
|
DEFERREX TAX ASSETS |
4.865 |
86.730 |
295.191 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
3443.586
|
1984.072 |
2862.144
|
|
|
Sundry Debtors |
6997.278
|
5301.789 |
4775.289
|
|
|
Cash & Bank Balances |
383.453
|
80.282 |
3.869
|
|
|
Other Current Assets |
322.558
|
364.567 |
130.976
|
|
|
Loans & Advances |
353.909
|
390.761 |
517.066
|
|
Total
Current Assets |
11500.784
|
8121.471 |
8289.344
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
5055.379
|
1586.044 |
1217.567
|
|
|
Other Current Liabilities |
78.879
|
59.427 |
53.128
|
|
|
Provisions |
127.352
|
61.387 |
870.137
|
|
Total
Current Liabilities |
5261.610
|
1706.858 |
2140.832
|
|
|
Net Current Assets |
6239.174
|
6414.613 |
6148.512
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.232 |
0.464 |
|
|
|
|
|
|
|
|
TOTAL |
7303.915 |
7527.451 |
7466.341 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
|
|
|
|
|
|
|
SALES |
19012.173 [Gross Revenue] |
14563.961 |
10609.659 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
|
671.194 |
(739.050) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
NA |
72.856 |
73.964 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX |
|
598.338 |
(813.014) |
|
|
|
|
|
|
|
|
|
Less |
TAX |
|
227.611 |
(296.205) |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX |
472.593 |
370.727 |
(516.809) |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
14333.784 |
11407.157 |
8707.689 |
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
|
6136.490 |
3448.725 |
|
|
|
Finished Goods |
13976.580 |
3648.322 |
4183.947 |
|
|
|
Capital Goods |
|
102.158 |
7.699 |
|
|
TOTAL IMPORTS |
13976.580 |
9886.970 |
7640.371 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
27.25 |
21.38 |
(73.83) |
|
|
Particulars |
|
|
31.03.2012 |
|
Sales Turnover (Approximately) |
|
|
21000.000 |
|
|
|
|
|
Expected Sales 2012-13: Rs.22000.000 Millions
The above information has been parted by Mr. John
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
Net Profit Margin (PBT/Sales) |
(%) |
NA
|
4.11 |
(7.66) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
NA
|
6.69
|
(8.93) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
NA
|
0.27
|
(0.53) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
3.61
|
3.10
|
5.27 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.19
|
4.79
|
3.87 |
LOCAL AGENCY FURTHER INFORMATION
|
Available
in Report [Yes/No] |
|
|
Year
of Establishment |
Yes |
|
Locality
of the Firm |
Yes |
|
Constitution
of the firm |
Yes |
|
Premises
details |
Yes |
|
Type
of Business |
Yes |
|
Line
of Business |
Yes |
|
Promoters
background |
Yes |
|
No.
of Employees |
Yes |
|
Name
of Person Contacted |
Yes |
|
Designation
of contact person |
Yes |
|
Turnover
of firm for last three years |
Yes |
|
Profitability
for last three years |
Yes |
|
Reasons
for variation <> 20% |
- |
|
Estimation
for coming financial year |
- |
|
Capital
the business |
Yes |
|
Details
of sister concerns |
Yes |
|
Major
Suppliers |
No |
|
Major
Customers |
No |
|
Payment
Terms |
Yes |
|
Export
/ Import Details [If Applicable] |
Yes |
|
Market
Information |
- |
|
Litigations
that the firm / promoter involved in |
- |
|
Banking
Details |
Yes |
|
Banking
Facility Details |
Yes |
|
Conduct
of the banking account |
- |
|
Buyer
visit details |
- |
|
Financials,
if provided |
Yes |
|
Incorporation
details, if applicable |
Yes |
|
Last
accounts filed at ROC |
Yes |
|
Major
Shareholders, if applicable |
Yes |
|
PAN of Proprietor/Partner/Director,
if available |
No |
|
Passport No of
Proprietor/Partner/Director, if available |
No |
|
Voter ID No of
Proprietor/Partner/Director, if available |
Yes
|
DETAILS OF SUNDRY CREDITORS
|
Particular |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
|
|
|
Creditors |
5055.379 |
1586.044 |
1217.567 |
|
|
|
|
|
DIAMOND INDUSTRY –
-
From time immemorial,
-
The achievement of the Indian diamond industry was
possible only due to combination of the manufacturing skills of the Indian
workforce and the untiring and unflagging efforts of the Indian diamantaires,
supported by progressive Government policies.
-
The area of study of family owned diamond businesses
derives its importance from the huge conglomerate of family run organizations
which operate in the diamond industry since many generations.
-
Some of the basic traits of family run business
enterprises include spirit of entrepreneurship, mutual trust lowers transaction
costs, small, nimble and quick to react, information as a source of advantage
and philanthropy.
-
Family owned diamond businesses need to improve on
many fronts including higher standard of corporate governance, long-term
performance – focused strategies, modern management and technology.
-
The diamond jewellery industry in
-
Utmost caution is to be exercised while dealing with some
medium and large diamond traders which are usually engaged in fictitious import
– export, inter-company transactions, financially assisted by banks. In the
process, several public sector banks lost several hundred million rupees. They
mostly diverted borrowed money for diamond business into real estate and
capital markets.
-
Excerpts from Times of India dated 30th
October 2010 is as under –
DIAMOND
SAGA – DIRTY DOZEN STUCK WITH 2K CR DEBT
-
This could be the biggest credibility crisis the
Indian diamond industry has ever faced. Fifteen banks run the risk of losing Rs
20000.000 millions lent to a dozen diamond firms in
-
Most of the money borrowed from the banks in the name
of their diamond business has been diverted in real estate and the share
market. The banks are not in a position to seize their properties because in
many cases, these were purchased in the name of their relatives and friends.
BANKERS CHARGES REPORT
AS PER REGISTRY
|
This form is for |
Modification of
charge |
|
Charge
identification number of the modified |
10015571 |
|
Corporate
identity number of the company |
U36911MH2006PTC161091 |
|
Name of the
company |
LAXMI DIAMOND
PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
416, Prasad Chambers, Opera House, Mumbai – 400004, |
|
Type of charge |
Immovable
Property |
|
Particular of
charge holder |
State Bank of India, Diamond Branch, 1st Floor, Majestic
Shopping Centre, Majestic Shopping Centre, 144, J.S.S. Road, Girgaon,
Mumbai-400004, Maharashtra, India Email: kamalax_saraf@hotmail.com |
|
Nature of
description of the instrument creating or modifying the charge |
Indenture of
mortgage |
|
Date of
instrument Creating the charge |
18.10.2011 |
|
Amount secured by
the charge |
Rs.4920.000
Millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest As Per Sanction
Terms Terms of
Repayment As Per Sanction
Terms Margin As Per Sanction
Terms Extent and
Operation of the charge As Per Sanction
Terms |
|
Short particulars
of the property charged |
The whole of the
current assets of the company namely stock of raw materials, comprising of
rough cut and polished diamonds and precious stones and gems stocks in
process, semi finished goods and Finished goods viz.
Polished diamonds stores and gems stores and spares not relating to plant and
machinery (consumable stores and spares), bills, receivables and book debts
and all other movables and Book debts and
all other movables plant and machinery. |
|
Date of latest
modification prior to the present modification |
24.09.2011 |
|
Particulars of
the present modification |
Now by the
present modification Dated.18.10.2011 an indenture of mortgage was executed
by the lead bank of SBI consortium acting for itself and behalf of members of
SBI consortium namely SBB and J, SBP, SBP, SBM, DB, AB, ABL, CB, SBH, BOI,
SBT, ADBN. V. and Corporation Bank by way of registered mortgage over the
immovable properties to secure the credit facilities of Rs. 4920.000 millions. |
FIXED ASSETS:
·
Office and Residential
Premises
·
Furniture, Fixture and
Electric Fittings
·
Plant, Machinery and
Equipments
·
Computer
·
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.55.41 |
|
|
1 |
Rs.86.93 |
|
Euro |
1 |
Rs.68.10 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Report Prepared
by : |
BYI |
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.