MIRA
INFORM REPORT
|
Report Date : |
26.04.2013 |
IDENTIFICATION DETAILS
|
Name : |
RAYMOND ZAMBAITI LIMITED (w.e.f. 03.06.2009) |
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Formerly Known
As : |
RAYMOND ZAMBAITI PRIVATE LIMITED (w.e.f. 18.03.2006) MICROLITE TEXTILE PRIVATE LIMITED |
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Registered Office : |
New Hind House, Narottam Morarji Marg, Ballard Estate, Fort, Mumbai –
400 001, Maharashtra |
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Country : |
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Financials (as on) : |
31.03.2012 |
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Date of Incorporation : |
27.10.2004 |
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Com. Reg. No.: |
11-149276 |
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Capital
Investment/ Paid-up Capital: |
Rs.820.000
Millions |
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CIN No.: [Company
Identification No.] |
U17120MH2004PLC149276 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
KLPR01648D |
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PAN No.: [Permanent Account No.] |
AACCR9962M |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business : |
Manufacturer and Exporter of Cotton Shirting Fabrics. |
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No. of Employees: |
800 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (53) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 4320000 |
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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 a joint venture between Raymond Limited, India and
Cotonificio Honegger S.p.A, (Part of Gruppo Zambaiti, Italy). It is an
established company having a satisfactory track record. There appears sharp dip
in profits during 2012. However, trade relations are reported as decent.
Business is active. Payments are reported to be usually correct and as per
commitments. In view of the strong promoters, 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.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
Short Term Bank Facilities: A1 |
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Rating Explanation |
Very strong degree of safety and lowest credit risk. |
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Date |
October 23, 2012 |
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Rating Agency Name |
CARE |
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Rating |
Long Term Bank Facilities: A- |
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Rating Explanation |
Adequate degree of safety and low credit risk. |
|
Date |
October 23, 2012 |
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.
INFORMATION PARTED BY
|
Name : |
Mr. Sachin Sadhale |
|
Designation : |
Finance Officer |
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Contact No.: |
91-9922926190 |
|
Date : |
24.04.2013 |
LOCATIONS
|
Registered Office : |
New Hind House, Narottam Morarji Marg, Ballard Estate, Fort, Mumbai –
400 001, Maharashtra, India |
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Tel. No.: |
91-22-66046000/ 22686000 |
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Mobile No.: |
91-9922926190 (Mr. Sachin Sadhale) |
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Fax No.: |
91-22-22620052 |
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E-Mail : |
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Website: |
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Corporate Office : |
Mahindra Towers, B Wing, 2nd Floor, Pandurang Budhkar Marg,
Worli, Mumbai – 400 001, Maharashtra, India |
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Tel. No.: |
91-22-40349999 |
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Fax No.: |
91-22-24939036/ 24925084 |
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Factory : |
Plot No.T-1, Kagal Hatkanangale Five Star Industrial Area, Kasba:
Sangaon, Taluka: Kagal, District Kolhapur – 416 216, Maharashtra, India |
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Tel. No.: |
91-231-6615100 |
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Fax No.: |
91-231-6615115 |
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E-Mail : |
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Area : |
221000 sq. m. (Approximately) |
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Location : |
Leased |
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Overseas Office : |
Plot C/O Coto Honegger S.p.a., Vig. Marconi 51.24021 Albino (BG.) |
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Tel. No.: |
+39 035756511 |
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Fax No.: |
+39 035755165 |
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E-Mail : |
DIRECTORS
As on 23.08.2012
|
Name : |
Mr. Gautam Hari Singhania |
|
Designation : |
Director |
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Address : |
J.K. House, 59A, Bhulabhai Desai Road, Mumbai – 400 026, Maharashtra,
India |
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Date of Birth/Age : |
09.09.1965 |
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Qualification : |
B. Com (HONS.) |
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Date of Appointment : |
30.03.2005 |
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DIN No.: |
00020088 |
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|
Name : |
Mr. Pradeep Kumar Bhandari |
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Designation : |
Director |
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Address : |
Bunglow No.36, Neelkanth Woods Enclave-B, Mullahbaug, Tikuji-ni-Wadi Road,
Thane (West), Thane – 400 610, Maharashtra, India |
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Date of Birth/Age : |
15.08.1957 |
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Qualification : |
B. Com, LLB, FCA, ACS |
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Date of Appointment : |
30.03.2005 |
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DIN No.: |
00021923 |
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Name : |
Mr. Robert Apolin Lobo |
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Designation : |
Director |
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Address : |
RH 25, Customs Colony B CHS Limited, Military Road, Marol, Andheri
(East), Mumbai – 400 059, Maharashtra, India |
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Date of Birth/Age : |
25.02.1960 |
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Qualification : |
B.A. and PGDBM |
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Date of Appointment : |
30.03.2005 |
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DIN No.: |
00074035 |
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PAN No.: |
ABKPL1246J |
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Name : |
Mr. Pietro Zambaiti |
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Designation : |
Director |
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Address : |
VIA G Marconi, 20, Albino (BG) Bergamo, Republic of Italy 24121 |
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Date of Birth/Age : |
01.10.1971 |
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Qualification : |
Law Degree |
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Date of Appointment : |
30.03.2005 |
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DIN No.: |
01279654 |
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Name : |
Mr. Franco G. Radici |
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Designation : |
Director |
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Address : |
VIA, Garibaldi 68/L, Seriate (BG), Seriate, Republic of Italy 240068 |
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Date of Birth/Age : |
04.10.1949 |
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Qualification : |
Textile Expert Degree |
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Date of Appointment : |
30.03.2005 |
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DIN No.: |
01279742 |
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Name : |
Mr. Giancarlo A. Zambaiti |
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Designation : |
Director |
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Address : |
VIA Monte Grappa, 68, Leffe (BG), Cagliari, Republic of Italy 24026 |
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Date of Birth/Age : |
04.11.1939 |
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Qualification : |
Accounting Certificate |
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Date of Appointment : |
30.03.2005 |
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DIN No.: |
01278445 |
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Name : |
Mr. Angelo G. Zambaiti |
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Designation : |
Alternate Director |
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Address : |
VIA Marconi, 26, Albino (BG), Bergamo, Republic of Italy 24021 |
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Date of Birth/Age : |
20.05.1969 |
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Qualification : |
Business Administration Degree |
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Date of Appointment : |
30.03.2005 |
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DIN No.: |
01278354 |
KEY EXECUTIVES
|
Name : |
Mr. Sachin Sadhale |
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Designation : |
Finance Officer |
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|
Name : |
Mr. Robert Apolin Lobo |
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Designation : |
Manager |
|
Address : |
RH 25, Customs Colony B CHS Limited, Military Road, Marol, Andheri
(East), Mumbai – 400 059, Maharashtra, India |
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Date of Birth/Age : |
25.02.1960 |
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Date of Appointment : |
01.03.2012 |
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PAN No.: |
ABKPL1246J |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 23.08.2012
|
Names of Shareholders |
|
No. of Shares |
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Raymond Limited, India |
|
40990000 |
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Cotonificio Honegger S.p.A, Republic of Italy |
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41000000 |
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Raymond Limited, India jointly with Priti Nitin Alkari |
|
5000 |
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Raymond Limited, India jointly with Thomas Fernandes |
|
1000 |
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Raymond Limited, India jointly with Robert Apolin Lobo |
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1000 |
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Raymond Limited, India jointly with Gyanmal Jain |
|
1000 |
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Raymond Limited, India Jointly with Subash Thakker |
|
1000 |
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Raymond Limited, India jointly with Uma Ramasubramaniam |
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1000 |
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Total |
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82000000 |
As on 23.08.2012
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Equity Share Breakup |
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Percentage of Holding |
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Category |
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Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
50.00 |
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Bodies
corporate |
|
50.00 |
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Total |
|
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Exporter of Cotton Shirting Fabrics. |
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Products: |
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Exports : |
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Products : |
Finished Goods |
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Countries : |
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Imports : |
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Products : |
Raw Materials |
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Countries : |
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Terms : |
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Selling : |
L/C, Cash and Credit |
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Purchasing : |
L/C, Cash and Credit |
PRODUCTION STATUS (AS ON 31.03.2011)
|
Particulars |
Unit |
Licensed
Capacity |
Installed
Capacity # |
Actual
Production * |
|
Cotton Fabric |
Meters |
12000000 |
10000000 |
13630234 |
# As certified by the management and being a technical matter, accepted by the Auditors as correct.
(*) Production meant for sale includes outsourced and job
work fabric.
GENERAL INFORMATION
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Suppliers : |
·
GPL Industries ·
Ambika Cotton Mills Limited |
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Customers : |
End Users ·
Aditya Birla Group ·
Raymond Limited |
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No. of Employees: |
800 (Approximately) |
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Bankers : |
·
State Bank of India, Corporate Accounts Group
Branch, Neville House, 3rd Floor, J.N. Heredia Marg, Ballard Estate,
Mumbai – 400 001, Maharashtra, India (Tel. No.: 91-22-61542501) ·
Bank of Maharashtra, "Lokmangal", 1501,
Shivaji Nagar, Pune – 411 005, Maharashtra, India |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Dalal and Shah Chartered Accountants |
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Address : |
252, Veer Savarkar Marg, Shivaji Park, Prabhadevi, Dadar (West),
Mumbai – 400 028, Maharashtra, India |
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PAN No.: |
AAAFD0907D |
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Joint Venture Partners : |
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Enterprises
under Common control of Joint Venture Partner : |
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CAPITAL STRUCTURE
As on 23.08.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
90000000 |
Equity Shares |
Rs.10/- each |
Rs.900.000 Millions |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
82000000 |
Equity Shares |
Rs.10/- each |
Rs.820.000
Millions |
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FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
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|
1] Share Capital |
820.000 |
820.000 |
820.000 |
|
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
259.946 |
225.023 |
149.897 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
1079.946 |
1045.023 |
969.897 |
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LOAN FUNDS |
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1] Secured Loans |
691.729 |
793.168 |
855.650 |
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2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
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TOTAL BORROWING |
691.729 |
793.168 |
855.650 |
|
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DEFERRED TAX LIABILITIES |
81.747 |
92.566 |
83.624 |
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TOTAL |
1853.422 |
1930.757 |
1909.171 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
1151.490 |
1191.045 |
1194.947 |
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Capital work-in-progress |
3.337 |
40.555 |
1.455 |
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INVESTMENT |
0.000 |
0.000 |
0.000 |
|
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DEFERRED TAX ASSETS |
0.000 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
383.512
|
447.115
|
260.873
|
|
|
Sundry Debtors |
633.893
|
576.673
|
414.254
|
|
|
Cash & Bank Balances |
23.261
|
2.393
|
80.778
|
|
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Other Current Assets |
69.760
|
116.776
|
53.722
|
|
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Loans & Advances |
46.522
|
40.856
|
96.737
|
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Total
Current Assets |
1156.948
|
1183.813
|
906.364
|
|
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Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
266.021
|
293.706
|
173.289
|
|
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Other Current Liabilities |
179.402
|
179.924
|
9.597
|
|
|
Provisions |
12.930
|
11.026
|
10.709
|
|
Total
Current Liabilities |
458.353
|
484.656
|
193.595
|
|
|
Net Current Assets |
698.595
|
699.157
|
712.769
|
|
|
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|
|
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
1853.422 |
1930.757 |
1909.171 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
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SALES |
|
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|
|
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Revenue from operations |
2289.787 |
2117.641 |
1612.192 |
|
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Other Income |
28.565 |
6.913 |
29.358 |
|
|
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TOTAL (A) |
2318.352 |
2124.554 |
1641.550 |
|
|
|
|
|
|
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Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
1187.988 |
|
1269.679 |
|
|
|
Changes in
inventories of finished goods, work-in-progress and stock-in-trade |
16.680 |
(140.660) |
|
|
|
|
Employee benefit expense |
137.471 |
106.496 |
|
|
|
|
Other expenses |
675.978 |
693.287 |
|
|
|
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TOTAL (B) |
2018.117 |
1805.589 |
1269.679 |
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Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
300.235 |
318.965 |
371.871 |
|
|
|
|
|
|
|
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|
Less |
FINANCIAL
EXPENSES (D) |
76.599 |
52.618 |
52.005 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
223.636 |
266.347 |
319.866 |
|
|
|
|
|
|
|
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Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
171.532 |
161.540 |
152.438 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
52.104 |
104.807 |
167.428 |
|
|
|
|
|
|
|
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Less |
TAX (H) |
17.181 |
29.681 |
56.203 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
34.923 |
75.126 |
111.225 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’
BALANCE BROUGHT FORWARD |
225.023 |
149.897 |
38.672 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
NA |
225.023 |
149.897 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
476.634 |
420.249 |
374.094 |
|
|
TOTAL EARNINGS |
476.634 |
420.249 |
374.094 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
NA |
NA |
5.721 |
|
|
|
Stores & Spares |
NA |
NA |
20.076 |
|
|
|
Capital Goods |
NA |
NA |
1.950 |
|
|
TOTAL IMPORTS |
NA |
NA |
27.747 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
0.43 |
0.92 |
1.36 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
1.51 |
3.54
|
6.78
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
2.28 |
4.95
|
10.39
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.26 |
4.41
|
7.97
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.05 |
0.10
|
0.17
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.64 |
0.76
|
0.88
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.52 |
2.44
|
4.68
|
LOCAL AGENCY FURTHER INFORMATION
Details of Sundry Creditors:
|
Particulars |
31.03.2012 (Rs. in millions) |
31.03.2011 (Rs. in millions) |
31.03.2010 (Rs. in millions) |
|
Sundry Creditors |
266.021
|
293.706
|
173.289 |
|
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 |
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6) Line of Business |
Yes |
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7) Promoter’s background |
Yes |
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8) No. of employees |
Yes |
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9) Name of person contacted |
Yes |
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10) Designation of contact person |
Yes |
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11) Turnover of firm for last three years |
Yes |
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12) Profitability for last three years |
Yes |
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13) Reasons for variation <> 20% |
-- |
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14) Estimation for coming financial year |
No |
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15) Capital in the business |
Yes |
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16) Details of sister concerns |
Yes |
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17) Major suppliers |
Yes |
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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 |
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25) Conduct of the banking account |
-- |
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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 |
Yes |
OPERATIONS:
The gross turnover
of the Company was Rs.2318.300 millions (Previous Year: Rs.2117.600 millions). The
Company had a Profit after Tax of Rs.34.900 millions (Previous Year: Rs.75.100
millions) during the year ended March 31, 2012. During the year there was a
demand slump due to increase in excise duty on garment and accumulation of
stock with Apparel Brands. Intense pressure on fabric price has impacted the
profitability of this Company. The Company is a preferred premium high value
shirting supplier to leading domestic brands and continues its strong emphasis
on quality and innovation.
In order to conserve
the resources of the Company, the Directors do not recommend any dividend for
this financial year.
Bankers Charges
Report as per Registry
|
Corporate identity number of the company |
U17120MH2004PLC149276 |
|
Name of the company |
RAYMOND ZAMBAITI
LIMITED |
|
Address of the registered office or of the
principal place of business in |
New Hind House, Narottam Morarji Marg, Ballard Estate, Fort, Mumbai –
400 001, Maharashtra, India E-Mail: pravin.jogani@raymond.in |
|
This form is for |
Creation of charge |
|
Type of charge |
Others (Current Assets) |
|
Particular of charge holder |
Bank of Maharashtra, "Lokmangal", 1501, Shivaji Nagar, Pune – 411 005, Maharashtra, India E-Mail: bom972@mahabank.co.in |
|
Nature of description of the instrument
creating or modifying the charge |
Composite Deed of Hypothecation made in
Mumbai on 7th November, 2012. |
|
Date of instrument Creating the charge |
07.11.2012 |
|
Amount secured by the charge |
Rs.100.000 millions |
|
Brief particulars of the principal terms
an conditions and extent and operation of the charge |
Rate of Interest: Base rate+1.75% on CC Limit presently
12.25% with monthly rests. Terms of Repayment: As long as the facilities remain
outstanding, the Borrower will pay the Bank interest on outstanding amount
and Review Annually. Margin: 25% Extent and Operation of the charge: First pari passu charge and security by
way of Hypothecation on the current assets. |
|
Short particulars of the property charged |
Current assets i.e. stocks of Raw
Materials, items, inventories, stocks in process, semi finished goods, stores
and spares (consumable stores and spares), stock-in-trade, goods in process,
present and future and all the right title interest and benefit of the
borrower. Claims, bills, receivables, Book Debts due
or to become due to the Borrower/s at any time or from time to time, and all
of the Borrower's rights, titles or interest therein. |
TRADE REFERENCES:
·
GPL Industries
·
Ambika Cotton Mills Limited
·
Aditya Birla Group
·
Raymond Limited
FIXEDASSETS:
·
·
Building
·
Plant and Machinery,
Electrical Installation and Equipments
·
Furniture, Fixture and
Office Equipments
·
Vehicles
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources including
but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No 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 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.54.17 |
|
|
1 |
Rs.82.98 |
|
Euro |
1 |
Rs.70.62 |
INFORMATION DETAILS
|
Information Gathered
by : |
PLK |
|
|
|
|
Report Prepared
by : |
SMN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
7 |
|
--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 |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
53 |
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.