MIRA
INFORM REPORT
|
Report Date : |
01.09.2012 |
IDENTIFICATION DETAILS
|
Name : |
BODYCARE INTERNATIONAL LIMITED |
|
|
|
|
Registered
Office : |
163, Functional Industrial Estate Patparganj,
New Delhi - 110092 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
06.08.1999 |
|
|
|
|
Com. Reg. No.: |
55-101029 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs. 6.989 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U17119DL1999PLC101029 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
DELB06186F |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCB2325B |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer and Supplier of Intimate Apparels, Ladies Intimate
Apparel, Mens Intimate Apparels and Undergarments
in India |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (47) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 240000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track record. Financially
performance seems well. Trade relations are reported to be fair. Business is
active. Payments are reported to be usually correct and as per commitment. The company can be considered for normal business dealing at usual
trade terms and condition. |
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 – June 30, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
India is developing into an open-market economy, yet traces
of its past autarkic policies remain. Economic liberalization, including
industrial deregulation, privatization of state-owned enterprises, and reduced controls
on foreign trade and investment, began in the early 1990s and has served to
accelerate the country's growth, which has averaged more than 7% per year since
1997. India's diverse economy encompasses traditional village farming, modern
agriculture, handicrafts, a wide range of modern industries, and a multitude of
services. Slightly more than half of the work force is in agriculture, but
services are the major source of economic growth, accounting for more than half
of India's output, with only one-third of its labor force. India has
capitalized on its large educated English-speaking population to become a major
exporter of information technology services and software workers. In 2010, the
Indian economy rebounded robustly from the global financial crisis - in large
part because of strong domestic demand - and growth exceeded 8% year-on-year in
real terms. However, India's economic growth in 2011 slowed because of
persistently high inflation and interest rates and little progress on economic
reforms. High international crude prices have exacerbated the government's fuel
subsidy expenditures contributing to a higher fiscal deficit, and a worsening
current account deficit. Little economic reform took place in 2011 largely due
to corruption scandals that have slowed legislative work. India's medium-term
growth outlook is positive due to a young population and corresponding low
dependency ratio, healthy savings and investment rates, and increasing
integration into the global economy. India has many long-term challenges that
it has not yet fully addressed, including widespread poverty, inadequate
physical and social infrastructure, limited non-agricultural employment
opportunities, scarce access to quality basic and higher education, and
accommodating rural-to-urban migration.
|
Source
: CIA |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ 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.
LOCATIONS
|
Registered Office : |
163, Functional Industrial Estate Patparganj,
New Delhi – 110092, India |
|
Tel. No.: |
91-11-42141446/ 47/ 48 |
|
Fax No.: |
91-11-22158609 |
|
E-Mail : |
|
|
Website : |
DIRECTORS
AS ON 30.09.2011
|
Name : |
Mr. Sachin Kumar Gupta |
|
Designation : |
Director |
|
Address : |
158, Savita Vihar,
Delhi - 110092, India |
|
Date of Birth/Age : |
29.08.1977 |
|
Date of Appointment : |
06.08.1999 |
|
DIN No.: |
00075706 |
|
|
|
|
Name : |
Mr. Satish Kumar Gupta |
|
Designation : |
Director |
|
Address : |
158, Savita Vihar,
Delhi - 110092, India |
|
Date of Birth/Age : |
15.07.1952 |
|
Date of Appointment : |
06.08.1999 |
|
DIN No.: |
00140751 |
|
|
|
|
Name : |
Mr. Shashi Bala
Gupta |
|
Designation : |
Director |
|
Address : |
158, Savita Vihar,
Delhi - 110092, India |
|
Date of Birth/Age : |
26.11.1956 |
|
Date of Appointment : |
01.04.2006 |
|
DIN No.: |
00141028 |
|
|
|
|
Name : |
Mr. Amit Kumar Gupta |
|
Designation : |
Director |
|
Address : |
158, Savita Vihar,
Delhi - 110092, India |
|
Date of Birth/Age : |
21.07.1978 |
|
Date of Appointment : |
14.09.2009 |
|
DIN No.: |
00140772 |
|
|
|
|
Name : |
Mr. Mithun Gupta |
|
Designation : |
Director |
|
Address : |
158, Savita Vihar,
Delhi - 110092, India |
|
Date of Birth/Age : |
21.07.1980 |
|
Date of Appointment : |
14.09.2009 |
|
DIN No.: |
00140709 |
|
|
|
|
Name : |
Mr. Amit Kumar Gupta |
|
Designation : |
Director |
|
Address : |
158, Savita Vihar,
Delhi - 110092, India |
|
Date of Birth/Age : |
21.07.1978 |
|
Date of Appointment : |
14.09.2009 |
|
DIN No.: |
00140772 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
Sachin Gupta |
|
80900 |
|
Satish Gupta |
|
138100 |
|
Shashi Bala |
|
138100 |
|
Pooja Gupta |
|
121500 |
|
Shikha Gupta |
|
12000 |
|
Prachi Gupta |
|
25900 |
|
Amit Gupta |
|
91400 |
|
Mithun Gupta |
|
91000 |
|
Total |
|
698900 |
AS ON 30.09.2011
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Directors
or relatives of directors |
|
100.00 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Supplier of Intimate Apparels, Ladies Intimate
Apparel, Mens Intimate Apparels and Undergarments
in India |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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|
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|
Bankers : |
Ř HDFC Bank Limited,
HDFC Bank House Senapati Bapat
Marg, Lower Parel (West),
Mumbai – 400013, Maharashtra, India Ř State Bank of
India, S.S.I. Branch, G.T. Road, Shahdara, Delhi –
110032, Delhi, India Ř Kotak Mahindra Limited |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Facilities : |
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Ajay K. Jain and Company Chartered Accountants |
|
Address : |
D-119, Preet Vihar,
Delhi – 110092, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AAGFA7390F |
CAPITAL STRUCTURE
AS ON 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1,000,000 |
Equity Shares |
Rs. 10/- each |
Rs. 10.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
698,900 |
Equity Share |
Rs.10/- each |
Rs. 6.989
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 |
6.989 |
4.989 |
4.305 |
|
|
2] Share Application Money |
0.000 |
0.000 |
5.500 |
|
|
3] Reserves & Surplus |
54.976 |
21.065 |
14.331 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
61.965 |
26.054 |
24.136 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
140.375 |
91.285 |
39.791 |
|
|
2] Unsecured Loans |
0.600 |
1.000 |
0.000 |
|
|
TOTAL BORROWING |
140.975 |
92.285 |
39.791 |
|
|
DEFERRED TAX LIABILITIES |
0.815 |
0.549 |
0.336 |
|
|
|
|
|
|
|
|
TOTAL |
203.755 |
118.888 |
64.263 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
60.391 |
33.626 |
10.461 |
|
|
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 |
180.788
|
82.373 |
44.374 |
|
|
Sundry Debtors |
39.972
|
35.074 |
23.391 |
|
|
Cash & Bank Balances |
5.120
|
1.055 |
2.485 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
8.561
|
8.726 |
4.405 |
|
Total
Current Assets |
234.441
|
127.228 |
74.655 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
80.450
|
33.245 |
|
|
|
Other Current Liabilities |
6.227
|
4.321 |
18.353 |
|
|
Provisions |
4.400
|
4.400 |
2.500 |
|
Total
Current Liabilities |
91.077
|
41.966 |
20.853 |
|
|
Net Current Assets |
143.364
|
85.262 |
53.802 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
203.755 |
118.888 |
64.263 |
|
PROFIT & LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
426.791 |
290.505 |
358.008 |
|
|
|
Other Income |
0.136 |
0.045 |
0.163 |
|
|
|
TOTAL (A) |
426.927 |
290.550 |
358.171 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Goods sold |
181.767 |
228.738 |
302.714 |
|
|
|
Freight and Cartage |
7.204 |
2.921 |
3.344 |
|
|
|
Job Work |
62.858 |
0.000 |
0.000 |
|
|
|
Packaging Expenses |
30.033 |
5.533 |
2.007 |
|
|
|
Royality |
9.762 |
0.000 |
0.000 |
|
|
|
Consumable Stores |
11.029 |
0.342 |
0.212 |
|
|
|
Advertisement Expenses |
3.910 |
5.008 |
4.776 |
|
|
|
Bank Interest |
11.873 |
7.314 |
0.661 |
|
|
|
Business Promotion |
2.567 |
0.768 |
0.812 |
|
|
|
Travelling Expenses |
4.110 |
2.702 |
2.215 |
|
|
|
Discount & Rebate |
23.649 |
4.909 |
13.805 |
|
|
|
Salaries |
20.374 |
7.584 |
3.285 |
|
|
|
Sales Promotion |
3.166 |
2.035 |
1.553 |
|
|
|
Staff Welfare and Food and
Beverages |
1.325 |
0.611 |
0.404 |
|
|
|
Repairs and Maintenance |
1.495 |
0.703 |
0.150 |
|
|
|
Water and Electricity Expenses |
3.729 |
0.762 |
0.516 |
|
|
|
Other Expenses |
14.369 |
12.621 |
13.232 |
|
|
|
TOTAL (B) |
393.220 |
282.551 |
349.686 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
33.707 |
7.999 |
8.485 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
33.707 |
7.999 |
8.485 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
4.857 |
1.744 |
1.353 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
28.850 |
6.255 |
7.132 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
2.938 |
2.258 |
2.560 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
25.912 |
3.997 |
4.572 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
18.328 |
14.331 |
9.759 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
44.240 |
18.328 |
14.331 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
37.08 |
10.85 |
N.A. |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
6.07 |
1.38 |
1.28 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
6.76 |
2.15 |
1.99 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
9.79 |
3.89 |
8.38 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.47 |
0.24 |
0.30 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
.3.74 |
5.15 |
2.51 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.57 |
3.03 |
3.58 |
LOCAL AGENCY FURTHER INFORMATION
|
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 |
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 |
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 |
Yes |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of
Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
No |
OPERATIONS
The results of the
company for the year are excellent. The operations of the company during the
year have been operated quite satisfactory. The Company has successfully
maintained its reputation for high quality varieties. All efforts are being
made for further increase in the turnover of the company.
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate
identity number of the company |
U17119DL1999PLC101029 |
|
Name of the
company |
BODYCARE
INTERNATIONAL LIMITED |
|
Address of the registered
office or of the principal place of
business in |
163, Functional
Industrial Estate, Patparganj, New Delhi, India |
|
This form is for |
Modification of
charge |
|
Charge
identification number of the modified |
10265119 |
|
Type of charge |
Immovable
Property |
|
Particular of
charge holder |
HDFC Bank
Limited, HDFC Bank House Senapati Bapat Marg, Lower Parel W, Mumbai – 400013, Maharashtra,
India Email ID: RBBform8@hdfcbank.com
|
|
Nature of
description of the instrument creating or modifying the charge |
Memorandum
Recording Past Transactions of Creation of Mortgage by Delivery of Title
Deeds. |
|
Date of
instrument Creating the charge |
10.07.2012 |
|
Amount secured by
the charge |
Rs. 150.000 |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest Interest at the
rate as may be communicated by the Bank from time to time. Terms of Repayment On demand. Margin As may be
stipulated by the Bank from time to time. Extent and Operation of the charge The Company
accorded and gave oral consent to Bank to continue to hold and retain the
title deeds (by way of Constructive delivery) in respect of its immovable
properties as security for repayment of Rs.150.000 Millions by the Company
together with principal, interest, liquidated damages, costs, charges and
expenses. Others NIL |
|
Short particulars
of the property charged |
Immovable
property being 163, FIE, Patparganj, Delhi. Immovable
property being E-13, Industrial Area of Selaqui-Pargna,
Pachwa Doon, Tehsil-Vikas Nagar, Dist-Dehradun. |
|
Date of latest
modification prior to the present modification |
31.03.2012 |
|
Particulars of
the present modification |
The charge shall
now stand increased from Rs.130.000 Millions to Rs.150.000 Millions, in favour the Bank against the equitable mortgage of
immovable properties being lying and situated at (i)
163, FIE, Patparganj, Delhi, and (ii) E-13,
Industrial Area of Selaqui-Pargna, Pachwa Doon, Tehsil-Vikas Nagar, Dist-Dehradun. |
FIXED ASSETS:
Ř
Computer
Ř
Furniture and Fixture
Ř
Air Conditioner
Ř
Office Equipment
Ř
Three Wheeler
Ř
Two Wheeler
Ř
Car
Ř
Software
Ř
Building
Ř
Generator
Ř
Machinery
Ř
Land
Ř
Cycle
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 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. 55.72 |
|
|
1 |
Rs. 87.95 |
|
Euro |
1 |
Rs. 69.66 |
INFORMATION DETAILS
|
Report Prepared
by : |
BVA |
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 |
6 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
47 |
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 |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.