|
Report Date : |
22.06.2012 |
IDENTIFICATION DETAILS
|
Name : |
SANGHAVI JEWEL PRIVATE LIMITED |
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|
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Registered Office : |
402, Mehta Mahal, 15, |
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Country : |
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Financials (as on) : |
31.03.2011 |
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Date of Incorporation : |
21.02.2005 |
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Com. Reg. No.: |
11-151449 |
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Capital Investment/
Paid-up Capital: |
Rs. 49.000
Millions |
|
|
|
|
CIN No.: [Company
Identification No.] |
U36910MH2005PTC151449 |
|
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|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
MUMS48165F |
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PAN No.: [Permanent
Account No.] |
AAICS7624R |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer and Exporter of Diamond Studded Gold Jewellery and Silver
Jewellery. |
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|
|
No. of Employees: |
550 [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 2400000 |
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Status : |
Satisfactory |
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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 for normal business dealings on a 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.
INFORMATION PARTED BY
|
Name : |
Mr. Chitaranjan |
|
Designation : |
Finance Accounts Head |
|
Contact No.: |
91-22-66487198 |
|
Date : |
20.06.2012 |
LOCATIONS
|
Registered Office : |
402, Mehta Mahall, 15, |
|
Tel. No.: |
Not Available |
|
Fax No.: |
Not Available |
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E-Mail : |
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Website: |
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Area: |
10000 sq. ft. |
|
Location: |
Owned |
|
|
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Factory : |
Plot No. GJ-01, Seepz++, Seepz, Andheri (East), Mumbai-400096, |
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Tel. No.: |
91-22-66487000 |
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Fax No.: |
91-22-28291956/ 23632033 |
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E-Mail : |
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|
Area : |
70000 sq. ft |
|
Location: |
Owned |
|
|
|
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Corporate Office
: |
502- Prasad Chambers, Opera House, Mumbai-400004, Maharashtra, India |
|
Tel No.: |
91-22-40378200 |
|
Fax No.: |
91-22-23632936 |
|
Email: |
DIRECTORS
As on 30.09.2011
|
Name : |
Mr. Jayesh Vasantlal Sanghavi |
|
Designation : |
Managing Director |
|
Address : |
19, Kailesh Niketan, 24 LD Ruparel Marg, Walkeshwar, Mumbai-400006, |
|
Date of Appointment : |
01.01.2011 |
|
DIN No.: |
00814828 |
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|
|
|
Name : |
Mr. Chandrakant Ravhandbhai Sanghavi |
|
Designation : |
Director |
|
Address : |
25/252, Pariki Plot No. 1, Behind Tribhuvan Complex, Athwalines,
Surat-395007, |
|
Date of Birth/Age : |
06.12.1951 |
|
Date of Appointment : |
16.02.2007 |
|
DIN No.: |
00392409 |
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|
|
|
Name : |
Mr. Ketankumar Kantilal
Sanghavi |
|
Designation : |
Director |
|
Address : |
1301, Walkeshwar, Chandanbala RR Thakker Marg, Opposite Ridge Road,
Mumbai-400006, |
|
Date of Birth/Age : |
01.06.1968 |
|
Date of Appointment : |
21.02.2005 |
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DIN No.: |
00794060 |
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|
|
|
Name : |
Mr. Rameschandra Ravchandbhai Sanghavi |
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Designation : |
Director |
|
Address : |
3, Sanghavi Bunglow, Near Indoor Stadium, Tribuvan Complex, Ghod Dod
Road, District Surat-395002, Gujarat, india |
|
Date of Birth/Age : |
29.08.1949 |
|
Date of Appointment : |
01.04.2005 |
|
DIN No.: |
00813863 |
|
|
|
|
Name : |
Mr. Kirtilal R Sanghavi |
|
Designation : |
Director |
|
Address : |
SY No. 2369/ 7 2369/ 8 EP 251 252 PAIY, Plot 4 B / H Tribhuvan Somplex, Athwalines,
Surat-395002, |
|
Date of Birth/Age : |
02.11.1947 |
|
Date of Appointment : |
01.04.2005 |
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DIN No.: |
01037677 |
KEY EXECUTIVES
|
Name : |
Mr. Chitaranjan |
|
Designation : |
Finance Accounts Head |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
Sanghvi Exports International Private Limited |
|
4460000 |
|
Vasantlal Sanghavi |
|
1000 |
|
Vasantlal Sanghavi (HUF) |
|
334000 |
|
Kirtilal Sanghavi (HUF) |
|
35000 |
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Chandrakant Ravhandbhai Sanghavi HUF |
|
35000 |
|
Rameschandra Ravchandbhai Sanghavi |
|
35000 |
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|
|
|
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Total |
|
4900000 |
As on 30.09.2011
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Bodies
corporate |
|
99.98 |
|
Directors
or relatives of directors |
|
0.02 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Diamond Studded Gold Jewellery and Silver
Jewellery. |
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|
|
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Exports : |
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|
Products : |
Diamond Studded Gold and Silver Jewellery |
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Countries : |
·
USA ·
Europe |
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Imports : |
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Products : |
Polished Diamond |
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Countries : |
Hong Kong |
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Terms : |
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Selling : |
Cash and Credit |
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Purchasing : |
Cash and Credit |
PRODUCTION STATUS [AS ON 31.03.2011]
(a) Licensed Capacity *
(b) Installed Capacity *
(c) Actual Production in respect of goods manufactured
|
Particulars |
Actual
Production [Quantity
Pieces] |
|
Studded
Jewellery |
|
|
Gold |
273204 |
|
Silver |
188088 |
|
Platinum |
673 |
NOTE:
(a) * In the opinion of the management of the company,
looking into the product mix of jewellery as well as the intricacies involved
therein, information with respect to licensed and installed capacity is not
feasible and hence not stated.
(b) * Studded Jewellery included Rings,
Earrings, Pendants, Bracelets, Necklaces, Bangles.
GENERAL INFORMATION
|
Suppliers : |
Super Diamond, Hong Kong |
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Customers : |
Wholesalers, Retailers and End Users ·
Richline, US |
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No. of Employees : |
550 [Approximately] |
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Bankers : |
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Facilities : |
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Banking Relations
: |
-- |
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Auditors : |
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|
Name : |
M A Parikh and Company Chartered Accountant |
|
Address : |
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Tel. No.: |
91-22-22043850 |
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Fax No.: |
91-22-22874524 |
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E-Mail : |
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Holding Company: |
·
Sangavi Exports International Private Limited CIN No.: U36911MH2007PTC170013 Address: 502- Prasad Chambers, Opera House, Mumbai-400004,
Maharashtra, India Line of Business: Manufacturer
and Exporter of Polished Diamonds. |
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|
|
|
Fellow Subsidiaries/ Associates/ Concerns in which Directors of the
company have significant influence: |
|
CAPITAL STRUCTURE
As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
5000000 |
Equity Shares |
Rs.10/- each |
Rs.50.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
4900000 |
Equity Shares |
Rs.10/- each |
Rs.49.000
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 |
49.000 |
49.000 |
49.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
564.093 |
529.027 |
510.965 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
613.093 |
578.027 |
559.965 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
396.167 |
703.314 |
707.662 |
|
|
2] Unsecured Loans |
60.383 |
60.383 |
60.383 |
|
|
TOTAL BORROWING |
456.550 |
763.697 |
768.045 |
|
|
DEFERRED TAX LIABILITIES |
11.648 |
12.338 |
13.422 |
|
|
|
|
|
|
|
|
TOTAL |
1081.291 |
1354.062 |
1341.432 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
202.555 |
207.286 |
214.492 |
|
|
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 |
681.593
|
641.656
|
518.732 |
|
|
Sundry Debtors |
953.320
|
990.349
|
1276.648 |
|
|
Cash & Bank Balances |
131.015
|
188.505
|
120.580 |
|
|
Other Current Assets |
0.000
|
0.000
|
0.000 |
|
|
Loans & Advances |
57.779
|
42.162
|
31.398 |
|
Total
Current Assets |
1823.707
|
1862.672
|
1947.358 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
924.246
|
697.710
|
806.281 |
|
|
Other Current Liabilities |
12.224
|
12.889
|
10.698 |
|
|
Provisions |
8.501
|
5.297
|
3.439 |
|
Total
Current Liabilities |
944.971
|
715.896
|
820.418 |
|
|
Net Current Assets |
878.736
|
1146.776
|
1126.940 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
1081.291 |
1354.062 |
1341.432 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
1729.972 |
1617.530 |
1822.056 |
|
|
|
Other Income |
56.804 |
8.009 |
1.708 |
|
|
|
TOTAL (A) |
1786.776 |
1625.539 |
1823.764 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Raw Material Consumed |
1457.342 |
1371.334 |
1338.808 |
|
|
|
Employee Remuneration and other
Benefits |
109.907 |
84.163 |
92.803 |
|
|
|
Operating and Administrative Expenses |
165.140 |
112.835 |
165.721 |
|
|
|
Stock Differential |
(56.128) |
(29.815) |
70.589 |
|
|
|
TOTAL (B) |
1676.261 |
1538.517 |
1667.921 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
110.515 |
87.022 |
155.843 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
57.170 |
58.648 |
67.660 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
53.345 |
28.374 |
88.183 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
11.909 |
11.382 |
11.332 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
41.436 |
16.992 |
76.851 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
6.370 |
(1.069) |
(8.667) |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
35.066 |
18.061 |
85.518 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
485.876 |
467.815 |
382.297 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
520.942 |
485.876 |
467.815 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
1723.558 |
1603.250 |
1814.413 |
|
|
TOTAL EARNINGS |
1723.558 |
1603.250 |
1814.413 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
1007.904 |
1005.777 |
645.597 |
|
|
|
Consumables |
10.768 |
9.959 |
8.658 |
|
|
|
Capital Goods |
4.823 |
3.760 |
0.210 |
|
|
TOTAL IMPORTS |
1023.495 |
1019.496 |
654.465 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
19.00 |
3.69 |
17.45 |
|
|
Particulars |
|
|
31.03.2012 |
|
Sales Turnover [Approximately] |
|
|
1480.000 [Due to labour
reduction] |
Expected Sales (2012-13) : Rs.2000.000 Millions.
The above information has been parted by Mr. Chitaranjan.
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
1.96
|
1.11
|
4.69 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
2.40
|
1.05
|
4.22 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.04
|
0.82
|
3.55 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.07
|
0.03
|
0.14 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
2.29
|
2.56
|
2.84 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.93
|
2.60
|
2.37 |
LOCAL AGENCY FURTHER INFORMATION
DETAILS OF SUNDRY CREDITORS:
|
Particulars |
31.03.2011 (Rs. in millions) |
31.03.2010 (Rs. in millions) |
31.03.2009 (Rs. in millions) |
|
Sundry Creditors |
924.246
|
697.710
|
806.281 |
|
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 |
Yes |
|
5) Type of Business |
Yes |
|
6) Line of Business |
Yes |
|
7) Promoter’s background |
Yes |
|
8) No. of employees |
Yes |
|
9) Name of person contacted |
Yes |
|
10) Designation of contact person |
Yes |
|
11) Turnover of firm for last three years |
Yes |
|
12) Profitability for last three years |
Yes |
|
13) Reasons for variation <> 20% |
Yes |
|
14) Estimation for coming financial year |
Yes |
|
15) Capital in the business |
Yes |
|
16) Details of sister concerns |
Yes |
|
17) Major suppliers |
Yes |
|
18) Major customers |
Yes |
|
19) Payments terms |
Yes |
|
20) Export / Import details (if applicable) |
Yes |
|
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 |
DIAMOND INDUSTRY –
INDIA
-
From time immemorial, India is well known in the world
as the birthplace for diamonds. It is difficult to trace the origin of
diamonds but history says that in the remote past, diamonds were mined only in
India. Diamond production in India can be traced back to almost 8th
Century B.C. India, in fact, remained undisputed leader till 18th
Century when Brazilian fields were discovered in 1725 followed by emergence of
S. Africa, Russia and Australia.
-
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 India today may be
more than Rs 60000 millions and is rated amongst the fastest growing in the
world. Indi ranks third in the world in domestic diamond consumption.
-
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 Surat. Until about two
months ago, they had not repaid these dues. Bankers believe many
diamantaires borrowed money during the economic downturn two years ago and
diverted funds to businesses like real estate and capital markets. Many of
themselves made money from these businesses but their diamond companies have
gone sick and declared insolvency.
-
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.
NOTE:
The Registered office of the company has been
shifted from Plot No. GJ-01, Seepz++, Seepz, Andheri (East), Mumbai-400096,
BACKGROUND:
The company incorporated on 2s1t February,
2005, during the financial year ended 31st March, 2005, set-up and
industrial undertaking at Special Economic Zone, Mumbai for manufacture and
export of studded jewellery. The commercial production thereat had commenced,
effective 3rd June, 2005. This is the sixth year of operations.
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate
identity number of the company |
U36910MH2005PTC151449 |
|
Name of the
company |
SANGHAVI JEWEL PRIVATE LIMITED |
|
Address of the registered
office or of the principal place of
business in |
402, Mehta Mahall, 15, |
|
This form is for |
Creation of
Charge |
|
Type of charge |
Movable Property Others |
|
Particular of
charge holder |
Union Bank of |
|
Nature of
instrument creating charge |
(Both the above
Agreements constitutes a single charge) |
|
Date of
instrument Creating the charge |
08.11.2010 |
|
Amount secured by
the charge |
Rs. 20.000
Millions |
|
Brief of the principal
terms an conditions and extent and operation of the charge |
Rate of Interest 1.50% over UBI Base Rate with a minimum of 10% per annum with monthly rests for FDBP/FUDBP/AFDBC facility and Bare Rate + 1.25% i.e. presently 9.75% p.a. with monthly rests for packing credit facility. Terms of Repayment On Demand Margin As per sanction Terms Extent and Operation of the charge To secure Adhoc FDBP/FUDBP/AFDBC facility of Rs. 20.000 Millions W/W packing credit facility of Rs. (20.000 Millions) granted by the Bank to the company. |
|
Short particulars
of the property charged |
|
FIXED ASSETS:
·
·
·
Plant and Machinery
·
Electrical and Other
Installation
·
Office Equipment
·
Furniture and Fixture
·
Vehicles
·
Computer
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.56.42 |
|
|
1 |
Rs.88.45 |
|
Euro |
1 |
Rs.71.52 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Report Prepared
by : |
TPT |
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 |
YES |
|
--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.