MIRA
INFORM REPORT
|
Report Date : |
30.07.2012 |
IDENTIFICATION DETAILS
|
Name : |
GRATEX INDUSTRIES LIMITED (w.e.f 05.11.1992) |
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|
|
|
Formerly Known
As : |
GRATEX DECORATIVE INDUSTRIES PRIVATE LIMITED |
|
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Registered
Office : |
109 Kakad Udyog Bhavan, L. J. Road, Mahim, Mumbai – 400016,
Maharashtra |
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Country : |
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Financials (as
on) : |
31.03.2011 |
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|
Date of Incorporation
: |
23.02.1984 |
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|
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|
Com. Reg. No.: |
11-032248 |
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Capital
Investment / Paid-up Capital : |
Rs.30.348 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
L36998MH1984PLC032248 |
|
|
|
|
TAN No.: [Tax Deduction & Collection
Account No.] |
MUMG9004C |
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|
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PAN No.: [Permanent Account No.] |
AAACG1275A |
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Legal Form : |
A Public Limited Liability company. The company’s Share are Listed on
the Stock Exchange. |
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Line of Business
: |
Manufacturers and Suppliers of PVC Products |
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|
|
No. of Employees
: |
Information Declined by Management |
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 100000 |
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|
Status : |
Moderate |
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Payment Behaviour : |
Slow |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate track records.
Profitability of the company appears to be under pressure. There appears some
accumulated losses recorded by the company. However 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 caution. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
RBI DEFAILTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
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.
INFORMATION DECLINED
|
Name : |
Mr. Prutap |
|
Contact No.: |
91-9821025055 |
|
Date : |
27.07.2012 |
LOCATIONS
|
Registered Office : |
109 Kakad Udyog Bhavan, Off |
|
Tel. No.: |
91-22-40702120 / 21 / 24376001 / 24376474 |
|
Mobile No.: |
91-9821025055 (Mr. Prutap) |
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Fax No.: |
91-22-40702161 / 24377013/24375123 |
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E-Mail : |
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Website : |
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Factory : |
Gratex House, Thane - Belapur Road, Khairne, New Mumbai- 400703,
Maharashtra, India |
DIRECTORS
As on 21.09.2011
|
Name : |
Mr. Baldev Krishan Sharma |
|
Designation : |
Chairman and Managing Director |
|
Address : |
8/B, Shivsagar Road No.5, Shivaji Park, Mumbai – 400016, Maharashtra, India |
|
Date of Birth/Age : |
31.04.1947 |
|
Date of Appointment : |
01.10.1992 |
|
DIN No.: |
00117161 |
|
|
|
|
Name : |
Mr. Karan Baldev Sharma |
|
Designation : |
Managing Director |
|
Address : |
8/B Shivsagar, Road No. 5, Shivaji Park,, Mumbai – 400016, Maharashtra, India |
|
Date of Birth/Age : |
04.07.1979 |
|
Date of Appointment : |
21.04.2008 |
|
DIN No.: |
00117188 |
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|
|
|
Name : |
Ms. Promila Baldev Sharma |
|
Designation : |
Director |
|
Address : |
8/B, Shivsagar Road No.5, Shivaji Park, Mumbai – 400016, Maharashtra, India |
|
Date of Birth/Age : |
02.03.1949 |
|
Date of Appointment : |
09.09.1992 |
|
DIN No.: |
00118066 |
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|
|
|
Name : |
Ms. Mona Pratap Menon |
|
Designation : |
Director |
|
Address : |
103, Rahul Apartment, No.2 Oppsite Navneet Prakashan, Bavani Shankar Road, Dadar (West), Mumbai – 400028, Maharashtra, India |
|
Date of Birth/Age : |
26.04.1975 |
|
Date of Appointment : |
01.10.1995 |
|
DIN No.: |
00117025 |
|
|
|
|
Name : |
Mr. Pratap Ramankutty Menon |
|
Designation : |
Director |
|
Address : |
103, Rahul Apartment, No.2 Oppsite Navneet Prakashan,
Bavani Shankar Road, Dadar (West), Mumbai – 400028, Maharashtra, India |
|
Date of Birth/Age : |
12.06.1973 |
|
Date of Appointment : |
10.08.2004 |
|
DIN No.: |
00117080 |
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|
|
|
Name : |
Mr. Krishna Prakash Bhardwaj |
|
Designation : |
Director |
|
Address : |
B -2 / 19 Ashok, C, Andheri (East), Mumbai – 400049, Maharashtra, India |
|
Date of Birth/Age : |
10.07.1930 |
|
Date of Appointment : |
01.10.1994 |
|
DIN No.: |
00276699 |
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|
|
|
Name : |
Mr. Pradeep Bhahadurbhai Nagori |
|
Designation : |
Director |
|
Address : |
2151 Oshiware Sagar Apartment, Opposite Twinkle Apartment, Andheri (East), Mumbai – 400049, Maharashtra, India |
|
Date of Birth/Age : |
14.07.1956 |
|
Date of Appointment : |
09.03.2006 |
|
DIN No.: |
00162781 |
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|
|
|
Name : |
Mr. Gurvinder Fauja Singh |
|
Designation : |
Director |
|
Address : |
C815, Legend Apartment, Behind Vakola Church, Santacruz (East), Mumbai – 400102, Maharashtra, India |
|
Date of Birth/Age : |
23.07.1957 |
|
Date of Appointment : |
21.04.2008 |
|
DIN No.: |
00117386 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 31.03.2012
|
Category of Shareholders |
No. of Shares |
% of Holdings |
|
(A) Shareholding
of Promoter and Promoter Group |
|
|
|
|
|
|
|
|
1,623,000 |
53.54 |
|
|
1,623,000 |
53.54 |
|
|
|
|
|
|
|
|
|
Total shareholding
of Promoter and Promoter Group (A) |
1,623,000 |
53.54 |
|
|
|
|
|
(B) Public
Shareholding |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
79,300 |
2.61 |
|
|
|
|
|
|
1,022,100 |
33.68 |
|
|
195,400 |
6.44 |
|
|
113,100 |
3.73 |
|
|
113,100 |
3.73 |
|
|
1,409,900 |
46.46 |
|
Total Public
shareholding (B) |
1,409,900 |
46.46 |
|
Total (A)+(B) |
3,034,800 |
100.00 |
|
(C) Shares held
by Custodians and against which Depository Receipts have been issued |
|
|
|
|
-- |
-- |
|
|
-- |
-- |
|
|
-- |
-- |
|
Total
(A)+(B)+(C) |
3,034,800 |
100.00 |
(1) Indian
Individual shareholders holding nominal
share capital up to Rs.0.100 million Shareholding
belonging to the category "Promoter and Promoter Group"
|
|
Name of the
Shareholder |
Details of Shares held |
|
|
|
|
No. of Shares held |
As a % of |
|
1 |
Baldev Sharma |
1,163,400 |
38.34 |
|
2 |
Baldev Sharma |
300 |
0.01 |
|
3 |
Karan Sharma |
27,500 |
0.91 |
|
4 |
Karan Sharma |
100 |
0.00 |
|
5 |
Krishna Prakash Bhardwaj |
5,300 |
0.17 |
|
6 |
Mona Pratap Menon |
137,200 |
4.52 |
|
7 |
Pratap Ramankutty Menon |
1,000 |
0.03 |
|
8 |
Promila Sharma |
290,100 |
9.56 |
|
|
Total |
1,624,900 |
53.54 |
Shareholding
belonging to the category "Public" and holding more than 1% of the
Total No. of Shares
|
Sl. No. |
Name of the
Shareholder |
No. of Shares held |
Shares as % of Total No. of Shares |
|
1 |
Kundanlal Wasan |
40,100 |
1.32 |
|
2 |
Pushpa Sedhmal Gupta |
45,700 |
1.5 |
|
3 |
Surekha Mahendra Khetani |
50,000 |
1.65 |
|
|
Total |
135,800 |
4.47 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturers and Suppliers of PVC Products |
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|
|
|
Products : |
· Manufactures of Wall Papers ·
Trading, Dealing in Imported Wall Papers |
GENERAL INFORMATION
|
No. of Employees : |
Information Declined by Management |
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Bankers : |
·
Bank of Maharashtra, Gadkari Chowk Branch, Dadar,
Mumbai – 400028, Maharashtra, India ·
Citi Bank · Punjab National Bank |
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Facilities : |
(Rs.
In Millions)
|
|
|
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Banking
Relations : |
-- |
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|
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Auditors : |
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|
Name : |
Mr. Doshi Doshi and Associates Chartered Accountants |
|
Address : |
203, Sarda Chambers No.1, 31, Kesavij Naik Road, Narsi Mehta Street, Masjid Bunder, Mumbai- 400009, Maharashtra, India |
CAPITAL STRUCTURE
As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4000000 |
Equity Shares |
Rs.10/- each |
Rs.40.000 Millions |
|
|
|
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|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3034800 |
Equity Shares |
Rs.10/- each |
Rs.30.348
Millions |
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|
|
|
|
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 |
30.348 |
30.348 |
30.348 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
1.853 |
1.853 |
1.935 |
|
|
4] (Accumulated Losses) |
(5.692) |
(6.113) |
(7.757) |
|
|
NETWORTH |
26.509 |
26.088 |
24.526 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
1.811 |
3.406 |
2.641 |
|
|
2] Unsecured Loans |
1.600 |
1.600 |
1.600 |
|
|
TOTAL BORROWING |
3.411 |
5.006 |
4.241 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
29.920 |
31.094 |
28.767 |
|
|
|
|
|
|
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|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
6.888 |
11.234 |
11.406 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
15.123
|
11.500 |
16.164 |
|
|
Sundry Debtors |
0.252
|
0.272 |
0.541 |
|
|
Cash & Bank Balances |
0.068
|
0.052 |
0.031 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
14.773
|
15.714 |
12.887 |
|
Total
Current Assets |
30.216
|
27.538 |
29.623 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
0.111 |
0.591 |
1.222 |
|
|
Other Current Liabilities |
7.703
|
7.087 |
11.656 |
|
|
Provisions |
0.000
|
0.000 |
0.000 |
|
Total
Current Liabilities |
7.184
|
7.678 |
12.878 |
|
|
Net Current Assets |
23.032
|
19.860 |
16.745 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.616 |
|
|
|
|
|
|
|
|
TOTAL |
29.920 |
31.094 |
28.767 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
41.223 |
32.002 |
39.196 |
|
|
|
Other Income |
0.000 |
0.000 |
0.065 |
|
|
|
TOTAL (A) |
41.223 |
32.002 |
39.261 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Consumption materials changes inventories |
31.808 |
24.697 |
27.179 |
|
|
|
Manufacturing service costs |
0.041 |
0.007 |
1.898 |
|
|
|
Employee related expenses |
2.038 |
1.639 |
7.162 |
|
|
|
Administrative selling other expenses |
6.456 |
3.496 |
4.213 |
|
|
|
TOTAL (B) |
40.343 |
29.839 |
40.452 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
0.880 |
2.163 |
(1.191) |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
0.288 |
0.400 |
0.336 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
0.592 |
1.763 |
(1.527) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
0.169 |
0.119 |
0.317 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
0.423 |
1.644 |
(1.844) |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
0.423 |
1.644 |
(1.844) |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
(6.113) |
(7.757) |
(5.913) |
|
|
|
|
|
|
|
|
|
|
BALANCE /
(LOSS)CARRIED TO THE B/S |
(5.690) |
(6.113) |
(7.757) |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
0.14 |
NA |
NA |
|
QUARTERLY /
SUMMARISED RESULTS
|
PARTICULARS |
30.06.2011 |
30.09.2011 |
31.12.2011 |
31.03.2012 |
|
Type |
1st
Quarter |
2nd
Quarter |
3rd
Quarter |
4th
Quarter |
|
Net Sales |
11.150 |
14.850 |
12.460 |
14.320 |
|
Total Expenditure |
9.450 |
15.240 |
13.330 |
13.400 |
|
PBIDT (Excl
OI) |
1.700 |
(0.390) |
(0.870) |
0.920 |
|
Other Income |
0.000 |
0.000 |
0.000 |
0.000 |
|
Operating
Profit |
1.700 |
(0.390) |
(0.870) |
0.920 |
|
Interest |
0.060 |
0.080 |
0.080 |
0.090 |
|
Exceptional
Items |
0.000 |
0.000 |
0.000 |
0.000 |
|
PBDT |
1.640 |
(0.470) |
(0.950) |
0.830 |
|
Depreciation |
0.040 |
0.150 |
0.030 |
0.009 |
|
Profit
Before Tax |
1.600 |
(0.620) |
(0.980) |
0.740 |
|
Tax |
0.000 |
0.000 |
0.000 |
0.000 |
|
Provision and Contingencies |
0.000 |
0.000 |
0.000 |
0.000 |
|
Reported PAT |
1.600 |
(0.620) |
(0.980) |
0.740 |
|
Extraordinary Items |
0.000 |
0.000 |
0.000 |
0.000 |
|
Prior Period Expenses |
0.000 |
0.000 |
0.000 |
0.000 |
|
Other Adjustments |
0.000 |
0.000 |
0.000 |
0.000 |
|
Net Profit |
1.600 |
(0.620) |
(0.980) |
0.740 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
1.03
|
5.14 |
(4.70) |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
1.03
|
5.14 |
(4.70) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.14
|
4.24 |
(4.49) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.02
|
0.06 |
(0.08) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.40
|
0.49 |
0.70 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
4.21
|
3.59 |
2.30 |
LOCAL AGENCY FURTHER INFORMATION
DETAILS OF SUNDRY
CREDITORS
Rs.
In Millions
|
Particular |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
Creditors due others |
0.111 |
0.591 |
1.222 |
|
Total |
0.111 |
0.591 |
1.222 |
|
Sr. No. |
Check List by Info
Agents |
Available in Report (Yes / No) |
|
1] |
Year of Establishment |
(Yes) |
|
2] |
Locality of the firm |
(Yes) |
|
3] |
Constitutions of the firm |
(Yes) |
|
4] |
Premises details |
(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 |
(Yes) |
|
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 |
(No) |
|
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 |
(No) |
|
31] |
PAN of Proprietor/Partner/Director, if available |
(No) |
|
32] |
Passport No of Proprietor/Partner/Director, if available |
(No) |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
(No) |
PERFORMANCE REVIEW:
During the year, Income from Operations was Rs. 41.393 Millions against Rs.32.000 Millions in the previous financial year showing an increase of Rs.9.390 Millions However the NPAT for the year was Rs.0.423 Million compared to Rs.1.644 Millions in the previous year.
Even though the sales showed healthy trend, they were able to generate a nominal profit due to loss incurred in the sale of old plant and machinery and other assets which were scrapped. They are hopeful that they shall be able to meet the challenges and give their shareholders their dues.
OUTLOOK FOR 2011 12:
The outlook for the year 2011-12 is very positive and they are targeting a further 25% increase in sales. They continue to surge forward in this newera of trading and are looking at adding more products to their portfolio.
CONTINGENT
LIABILITIES (As on 31.03.2011):
The contingent liabilities on gratuity payment is not indicated.
Rs. In Millions
|
Particular |
31.03.2011 |
31.03.2009 |
|
Payment to Directors |
|
|
|
Directors Sitting Fees |
0.124 |
0.101 |
|
Remuneration |
1.089 |
1.136 |
|
No Provision for taxation has been made in view of carry forward of losses. |
-- |
-- |
|
Auditors Remuneration |
-- |
0.050 |
Fixed Assets
- Land
- Plant and Machinery
- Factory Equipment
- Electric Installation
- Electric Equipment
- Electric Fittings
- Printing Cylinders
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] 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 : |
JML |
|
|
|
|
Report Prepared
by : |
NTH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
- |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
2 |
|
--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 |
NO |
|
--LISTED |
YES/NO |
YES |
|
--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 |
- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.