MIRA
INFORM REPORT
|
Report Date : |
20.09.2012 |
IDENTIFICATION DETAILS
|
Name : |
MAINETTI ( |
|
|
|
|
Registered
Office : |
No.138/ 30, 3rd Floor, |
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|
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|
Country : |
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|
|
|
Financials (as
on) : |
31.03.2011 |
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|
|
|
Date of
Incorporation : |
02.06.1997 |
|
|
|
|
Com. Reg. No.: |
18-038312 |
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|
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Capital
Investment / Paid-up Capital : |
Rs.117.304 millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U25209TN1997PTC038312 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
CHEM02312C |
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|
|
PAN No.: [Permanent Account No.] |
AAACM6894M |
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Legal Form : |
Private Limited Liability Company |
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|
Line of Business
: |
Manufacturing and Designing and of Garment Hangers. |
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|
|
|
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 1550000 |
|
|
|
|
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 commitment. The Company can be considered normal for business dealings at usual
trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – June 30, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
India |
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 : |
No.138/ 30, 3rd Floor, Florida Towers, Nelson Manickam
Road, Chennai – 600 029, Tamilnadu, India |
|
Tel. No.: |
91-44-42919000 |
|
Fax No.: |
91-44-42919001 |
|
E-Mail : |
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|
Website : |
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|
Factory: |
B-II A, |
|
Tel. No.: |
91-44-22620500 |
|
Fax No.: |
91-44-22620503 |
|
Area : |
21000 sq. ft. |
|
Location : |
Leased |
|
|
|
|
Branch Office : |
104 - F Block, Ground Floor, Sushant Shopping Arcade, Sushant Lok
Phase - 1 |
|
Tel. No.: |
91-124-4714500 |
|
Fax No.: |
91-124-4050968 |
|
E-Mail : |
DIRECTORS
As on 28.09.2011
|
Name : |
Mr. Paras Chandaria |
||||||||||||||||||||||||||||||||||||
|
Designation : |
Director |
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|
Address : |
60, Martin Road, 3.24, Trade Mart, Singapore-239065 |
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|
Date of Appointment : |
30.09.2003 |
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DIN No.: |
01003786 |
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Other Directorship:
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|
Name : |
Mr. Vaidya Balakrishnan |
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|
Designation : |
Director |
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|
Address : |
4 Rocky Hill Road, Princeton-08540, New Jersey |
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|
Date of Birth/Age : |
02.07.1950 |
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Date of Appointment : |
27.09.2010 |
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DIN No.: |
00983352 |
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Other Directorship:
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|
Name : |
Mr. Lun Paul Tai |
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|
Designation : |
Director |
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|
Address : |
Suite 1812, Kwong Sanghong Centre, 151, Hoi Bun Road, Kwuntong
Kowloon, Hongkong |
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|
Date of Appointment : |
10.12.2005 |
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DIN No.: |
00555515 |
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Name : |
Mr. Sridharan Balaji |
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Designation : |
Director |
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|
Address : |
99, |
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Date of Birth/Age : |
24.08.1974 |
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Date of Appointment : |
28.11.2007 |
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PAN No.: |
ADCPB2961N |
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DIN No.: |
00106642 |
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Other Directorship:
|
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||||||||||||||||||||||||||||||||||||
|
Name : |
Mr. Sundeep Chauhan |
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|
Designation : |
Director |
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|
Address : |
No.1541, J Block, 16th Main Road, 13th Street, Anna
Nagar (West), Chennai-600040, Tamilnadu, India |
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|
Date of Birth/Age : |
03.06.1975 |
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Date of Appointment : |
27.09.2010 |
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PAN No.: |
ADWPC0134A |
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DIN No.: |
03146460 |
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Other Directorship:
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|
Name : |
Mr. Gnanasekar Gopalraja |
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|
Designation : |
Alternate director |
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|
Address : |
894, 7th Street, Periyar Nagar, Chennai-600082, Tamilnadu,
India |
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|
Date of Appointment : |
22.12.2010 |
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PAN No.: |
AKSPG7945A |
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DIN No.: |
03358708 |
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KEY EXECUTIVES
|
Name : |
Kavita Chola |
|
Designation : |
Secretary |
|
Address : |
72, Surya Kiran Apartment, D Block, Vikaspuri, New Delhi, India |
|
Date of Appointment : |
01.01.2008 |
|
PAN No.: |
AGEPC3503A |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 28.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
Mainetti Holding BV – Netherlands |
|
2928854 |
|
Mauna N V – Netherlands |
|
50 |
|
Mainetti Holding BV – Netherlands |
|
1212192 |
|
Mainetti Holding BV – Netherlands |
|
2532628 |
|
Mainetti Holding BV – Netherlands |
|
2041000 |
|
Mainetti Holding BV – Netherlands |
|
1590649 |
|
Mainetti Holding BV – Netherlands |
|
1425073 |
|
Total |
|
11730446 |
Equity Share Break up (Percentage of Total Equity)
As on 28.09.2011
|
Category |
Percentage |
|
Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s), Non-resident
Indian(s) or Overseas Corporate bodies or Others |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing and Designing and of Garment Hangers. |
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Products : |
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GENERAL INFORMATION
|
No. of Employees : |
Not Available |
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|
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|
Bankers : |
v
Canara Bank, Thousand Lights Branch, Greams Road,
Chennai – 600006, Tamilnadu, India v
The Hong Kong And Shanghai Banking Corporation
Limited, Nagabrahma Towers, 76, Cathedral Road, Chennai-600086, Tamilnadu,
India |
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|
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Facilities : |
|
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
S.V. Ghatalia and Associates Chartered Accountants |
|
Address : |
2nd
floor, TPL House, No:3 Cenotaph Road, Teynampet, Chennai - 600018, India |
|
PAN No.: |
AACFS6921Q |
|
|
|
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Holding Company: |
·
Mainetti Holding BV Mainetti |
|
|
|
|
Related Parties: |
·
Mainetti (Bangladesh) Private Limited ·
Suzhou Mainetti Plastic Products Ltd ·
Mainetti BV ·
Mainetti HK Limited ·
Mainetti SPA ·
Mainettech Lanka Private Limited ·
Mainetti UK Limited ·
Mainetti Vietnam Co. Limited ·
Mainetti Romania S.R.L ·
Mainetti USA Inc ·
Mainetti Aski San Tic AS ·
Mainetti Korea Company Limited ·
Mainetti Singapore Pte Limited ·
Mainetti Pakistan Private limited ·
Mainetti GMBH ·
MHG Management Services Limited ·
Mainetti Canada Limited |
CAPITAL STRUCTURE
As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
15000000 |
Equity Shares |
Rs.10/- each |
Rs.150.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
11730446 |
Equity Shares |
Rs.10/- each |
Rs.117.304 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 |
117.304 |
117.304 |
103.054 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
272.498 |
271.478 |
239.615 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
389.802 |
388.782 |
342.669 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
194.520 |
204.978 |
231.137 |
|
|
2] Unsecured Loans |
13.575 |
13.581 |
42.743 |
|
|
TOTAL BORROWING |
208.095 |
218.559 |
273.880 |
|
|
DEFERRED TAX LIABILITIES |
40.622 |
37.940 |
38.673 |
|
|
|
|
|
|
|
|
TOTAL |
638.519 |
645.281 |
655.222 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
481.253 |
517.265 |
548.376 |
|
|
Capital work-in-progress |
0.000 |
1.850 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERRED TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
213.456
|
123.044 |
131.716 |
|
|
Sundry Debtors |
136.299
|
190.882 |
186.062 |
|
|
Cash & Bank Balances |
62.776
|
23.318 |
33.047 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
57.044
|
60.296 |
55.511 |
|
Total
Current Assets |
469.575
|
397.540 |
406.336 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
260.946
|
206.848 |
239.274 |
|
|
Other Current Liabilities |
40.551
|
57.803 |
58.236 |
|
|
Provisions |
10.812
|
6.723 |
1.980 |
|
Total
Current Liabilities |
312.309
|
271.374 |
299.490 |
|
|
Net Current Assets |
157.266
|
126.166 |
106.846 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
638.519 |
645.281 |
655.222 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
|
1372.464 |
1284.593 |
1134.499 |
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL (A) |
1372.464 |
1284.593 |
1134.499 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
|
1212.193 |
1146.750 |
1005.906 |
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL (B) |
1212.193 |
1146.750 |
1005.906 |
|
|
|
|
|
|
|
|
Less |
|
(Including Interest
and Depreciation) |
(Including
Interest and Depreciation) |
128.593 (Including
Interest and Depreciation) |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
|
|
|
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
|
|
|
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
|
|
|
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
58.084 |
32.057 |
31.197 |
|
|
|
|
|
|
|
|
|
Less |
TAX (I) |
42.514 |
9.300 |
9.742 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-I) (J) |
15.570 |
22.757 |
21.455 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Sales (FOB value of exports ) |
153.113 |
143.635 |
478.909 |
|
|
|
Sales commission |
2.072 |
10.512 |
10.900 |
|
|
TOTAL EARNINGS |
155.185 |
154.147 |
489.809 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
425.910 |
|
413.102 |
|
|
|
Capital Goods |
19.603 |
23.275 |
|
|
|
TOTAL IMPORTS |
445.513 |
543.587 |
413.102 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
1.33 |
N.A |
N.A |
|
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%20PRIVATE%20LIMITED%20-%20193906%2020-Sep-2012_files/image008.gif){kind=small}
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
1.13
|
1.77 |
1.89 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
6.11
|
3.50 |
3.27 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.15
|
0.08 |
0.09 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.34
|
1.26 |
1.67 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.50
|
1.46 |
1.36 |
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 |
Yes |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
No |
|
9] |
Name of person contacted |
No |
|
10] |
Designation of contact
person |
No |
|
11] |
Turnover of firm for last
three years |
Yes |
|
12] |
Profitability for last
three years |
Yes |
|
13] |
Reasons for variation
<> 20% |
---- |
|
14] |
Estimation for coming
financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details
(if applicable) |
No |
|
21] |
Market information |
---- |
|
22] |
Litigations that the firm
/ promoter involved in |
---- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking
account |
---- |
|
26] |
Buyer visit details |
---- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
Yes |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of
Proprietor/Partner/Director, if available |
Yes |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
No |
NOTE:
The Registered office of the company has been
shifted from 58D, SIDCO Industrial Estate, Ambattur, Chennai – 600098, Tamilnadu,
India to the present address w.e.f. 15.05.2006
BACKGROUND:
Mainetti (India)
Private Limited (Mainetti or the company) was incorporated in India as a
Private limited Company Under the Companies Act, 1956 on June 02, 1997. The
Company is a wholly owned Subsidary of Mainetti Holding BV. The Company
specializes in designing and manufacturing of garment hangers from its
manufacturing Unit located at Sriperumbudur and Tambaram (SEZ). The company
provides various types of hangers with laminated designs, clips, bars and
rubber inlays.
FINANCIAL REVIEW:
Sales and other
income has increased by 6.84% whereas net profit has dropped by 0.85 % from 2%
of sales as achieved last year, which is primarily due to tax provision of Rs.
22.600 Millions made for previous years for which tax assessments got completed
in this financial year.
FUTURE PROJECTION:
The company is
expecting sales to remain at same level and profit after tax is expected at
2-3% of the sales.
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate
identity number of the company |
U25209TN1997PTC038312 |
|
Name of the
company |
MAINETTI (INDIA)
PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
No.138/ 30, 3rd Floor, Florida Towers, Nelson Manickam
Road, Chennai – 600 029, Tamilnadu, India Email: info@india.mainetti.com
|
|
This form is for |
Modification of charge |
|
Charge
identification (ID) number of the charge to be modified |
90288351 |
|
Type of charge |
·
Book debts ·
Movable property (not being pledge) ·
Floating charge ·
Whole
of the existing securities |
|
Particular of
charge holder |
Canara Bank, Thousand Lights Branch, Greams Road, Chennai – 600006,
Tamilnadu, India Email: cb0941@canarabank.com
|
|
Nature of
instrument creating charge |
Canara Bank
letter dated 10.04.2012 |
|
Date of instrument
Creating the charge |
10.04.2012 |
|
Amount secured by
the charge |
Rs.105.000
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest 12.5% for CC and 9.5%
for PC morefully described in the agreement (rate of interest is subject to
change by the bank from time to time) Terms of
Repayment Repayable on
demand Margin 15% on Stock, 25%
on Book Debts and 10% for LC and BG Extent and Operation
of the charge Credit limit of
Rs.105.000 Millions comprising CC- Rs.60.000 Millions with a sub limit of
Rs.10.000 Millions each for SLPC and FDB/FBE, Rs.40.000 Millions for ILC/FLC
and Rs.5.000 Millions for BG. All other terms and conditions as per the
agreement remain unchanged. |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
Whole of the
Existing securities including those acquired and/or to be acquired except at
A32, MEPZ-SEZ, Tambaram,out of the modified credit limit made available now
as described in the agreement. Release of
property located at A32 now permitted. |
|
Date of
instrument modifying the charge |
18.11.2010 |
|
Particulars of
the present modification |
Release of charge
on Building and Superstructure and Plant and machinery attached to the
superstructure of the Plot # A32 at Phase I, MEPZ-SEZ, Tambaram, Chennai.
Other terms and conditions and securities remain same. |
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.54.26 |
|
|
1 |
Rs.88.15 |
|
Euro |
1 |
Rs.71.03 |
INFORMATION DETAILS
|
Report Prepared
by : |
MRI |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--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 |
|
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 |
|
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.