|
Report Date : |
07.12.2013 |
IDENTIFICATION DETAILS
|
Name : |
GOYAL KNITFAB PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Plot No. 505, N H No 8.
Village-Palsana, Taluka-Palsana, Surat – 394315, Gujarat |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
22.03.2001 |
|
|
|
|
Com. Reg. No.: |
04-39344 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 29.390 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U17118GJ2001PTC039344 |
|
|
|
|
IEC No.: |
5201000193 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
SRTG00345C |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCG3803B |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Fabrics. |
|
|
|
|
No. of Employees
: |
Information declined by management |
RATING & COMMENTS
|
MIRA’s Rating : |
B (32) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 660000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
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|
|
|
Comments : |
Subject is an established company having moderate track record. The rating reflects GKPL’s modest scale of operations in the synthetic
textile fabrics industry and high working capital requirements. Further there
appears drastic dip in profit of the company during the financial year 2013. However, trade relations are fair. Business is active. Payment terms
are slow but correct. The company can be considered for business dealing with some caution. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
INDIAN ECONOMIC OVERVIEW
The current downturn
provides an opportunity to push ahead with reforms to accelerate growth, says
the latest India Development Update report released by the World Bank. The
report says that the adverse effects of rupee depreciation are likely to be
offset by the gains in the exports performance due to improved external
competitiveness. Since May this year, the local currency has depreciated
substantially and fell to a record level of Rs 68.85 to a dollar on August, 28.
A stagflation like
situation appears to have arisen as inflation jumped to an eight month high of
6.46 % for the month of September. It is up from 6.10 % in August. Growth
continues to be muted with factory output plunging to 0.6 % in August.
Onion prices have risen nearly 300 % from last September. Vegetables cost
nearly 90 % more than they did last year. Wake up to the economic contribution
of slum dwellers. They contribute more than 7.5 % to the country’s gross
domestic product, according to a recent study conducted in 50 top cities.
136000 estimated
number of jobs created during the second quarter of the current financial year.
50000 estimated number of additional jobs in the field of corporate social
responsibility in the coming years.
The International
Finance Corporation expects to come out with its rupee linked bonds issue
before the end of 2013 as a part of its plan to raise $ 1 billion. The Apple
iPhone 5c (Rs 41900 for 16 GB variant) and 5s (Rs 53500 for 16GB variant) has
been launched in India from 1st November.
The Land Acquisition
Act to provide just and fair compensation to farmers will come into force from
January 1 next year, said Rural Development Minister Jairam Ramesh. The Act
replaces a 119 year old registration. The Securities and Exchange Board of
India has approved the trading of currency futures on the Bombay Stock
Exchange. The exchange plans to launch the currency futures platform with
advanced trading technology by the end of November.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long term rating: “BB” |
|
Rating Explanation |
Moderate risk of default and high credit risk. |
|
Date |
01.11.2012 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short term rating: “A4+” |
|
Rating Explanation |
Minimal degree of safety and very high credit risk. |
|
Date |
01.11.2012 |
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 DECLINED BY
|
Name : |
Mr. Manish Soni |
|
Designation : |
Accounts Manager |
|
Contact No.: |
91-262-2265266 |
|
Date : |
05.12.2013 |
LOCATIONS
|
Registered Office : |
Plot No. 505, N H No 8.
Village-Palsana, Taluka-Palsana, Surat – 394315, Gujarat, India |
|
Tel. No. : |
91-262-2265266/
265267 |
|
Fax No. : |
91-262-2265268 |
|
E-Mail : |
|
|
Website : |
DIRECTORS
As on 23.09.2013
|
Name : |
Mr. Atul Sitaram Goyal |
|
Designation : |
Director |
|
Address : |
4A, Ravitej Apartments, Athawa Lines, Surat - 395001, |
|
Date of Birth/Age : |
26.12.1977 |
|
Qualification : |
B.E. (Chemical) |
|
Date of Appointment : |
22.03.2001 |
|
DIN No. : |
00096470 |
|
|
|
|
Name : |
Mr. Sitaram
Ramkumar Goyal |
|
Designation : |
Managing
Director |
|
Address : |
4A, Ravitej
Apartments, Athawa Lines, Surat-395001, |
|
Date of Birth/Age : |
19.01.1951 |
|
Qualification : |
B.Com |
|
Date of Appointment : |
22.03.2001 |
|
DIN No. : |
00096490 |
|
|
|
|
Name : |
Mr. Ramawtarsingh Rameshwarlal Poonia |
|
Designation : |
Whole-time director |
|
Address : |
C/O. Goyal Knitfab Private Limited, Block
No. 505, N.H. 8, Palsana, Surat – 394315, Gujarat, India |
|
Date of Birth/Age : |
30.11.1979 |
|
Date of Appointment : |
15.01.2013 |
|
DIN No. : |
01397538 |
KEY EXECUTIVES
|
Name : |
Mr. Manish Soni |
|
Designation : |
Accounts Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 23.09.2013
Note: Shareholding details file attached.
As on 23.09.2013
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
Bodies corporate |
38.75 |
|
Directors or relatives of Directors |
61.22 |
|
Other top fifty shareholders |
0.03 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Fabrics. |
GENERAL INFORMATION
|
No. of Employees : |
Information declined by management |
|||||||||||||||||||||||||||
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|
|||||||||||||||||||||||||||
|
Bankers : |
· State Bank of India, Mid-Corporate Group Industrial Finance Branch, Marble Arch, Race Course Circle, Vadodara - 390007, Gujarat, India Bank of Baroda, Industrial Estate Pandesara Branch, Surat
- 395001, Gujarat, India |
|||||||||||||||||||||||||||
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|
|||||||||||||||||||||||||||
|
Facilities : |
NOTE: LONG TERM
BORROWINGS Term Loan from State Bank of India, IFB Branch, Vadodra is secured by way of first charge over entire existing and proposed fixed assets of the company including land and building of the unit located at Block no 505, NH 8, village Palsana, Surat. Vehicle Loans from Bank of ICICI Bank Ltd are secured by way of hypothecation of respective vehicles. All the vehicle are in the name of Directors SHORT TERM BORROWINGS Working capital and LC facility from State Bank of India,
IFB Branch, Vadodara is secured by way of hypothecation of entire current
assets of the company such as raw material, WIP, finished goods and
receivable of the company. |
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
S. K. Kabra and Company Chartered Accountants |
|
Address : |
1006, Rathi Palace, Kamela Darwaja, Ring Road, Surat – 395002, Gujarat, India |
|
Tel. No. : |
91-261-2320131/ 3109696 |
|
E-Mail : |
|
|
Income-tax
PAN of auditor or auditor's firm : |
AAJFS6674D |
|
|
|
|
Enterprise controlled by key management personnel and their relatives
(EKMP): |
Harodia Trades LLP |
CAPITAL STRUCTURE
As on 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3,500,000 |
Equity Shares |
Rs.10/- each |
Rs. 35.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2,939,000 |
Equity Shares |
Rs.10/- each |
Rs. 29.390 Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
29.390 |
29.390 |
29.015 |
|
(b) Reserves & Surplus |
136.592 |
130.849 |
87.639 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Total Shareholders’
Funds (1) + (2) |
165.982 |
160.239 |
116.654 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
161.281 |
146.197 |
139.545 |
|
(b) Deferred tax liabilities (Net) |
22.358 |
19.603 |
16.480 |
|
(c) Other long term liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current Liabilities (3) |
183.639 |
165.800 |
156.025 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
107.170 |
66.618 |
90.445 |
|
(b) Trade payables |
35.385 |
24.378 |
24.010 |
|
(c) Other current
liabilities |
46.726 |
41.805 |
4.717 |
|
(d) Short-term provisions |
0.000 |
0.000 |
1.935 |
|
Total Current Liabilities (4) |
189.281 |
132.801 |
121.107 |
|
|
|
|
|
|
TOTAL |
538.902 |
458.840 |
393.786 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
333.748 |
267.695 |
265.329 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
0.000 |
45.433 |
11.542 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.003 |
0.003 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
22.947 |
17.683 |
6.947 |
|
(e) Other Non-current assets |
0.881 |
1.118 |
6.500 |
|
Total Non-Current Assets |
357.579 |
331.932 |
290.318 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
117.599 |
59.749 |
50.324 |
|
(c) Trade receivables |
31.582 |
40.210 |
33.548 |
|
(d) Cash and cash
equivalents |
16.734 |
14.110 |
0.263 |
|
(e) Short-term loans and
advances |
6.218 |
6.865 |
8.876 |
|
(f) Other current assets |
9.190 |
5.974 |
10.457 |
|
Total Current Assets |
181.323 |
126.908 |
103.468 |
|
|
|
|
|
|
TOTAL |
538.902 |
458.840 |
393.786 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Processing Income |
111.412 |
102.401 |
101.348 |
|
|
|
Sales |
199.835 |
256.456 |
175.917 |
|
|
|
Other Income |
2.135 |
1.715 |
3.571 |
|
|
|
TOTAL |
313.382 |
360.572 |
280.836 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
273.100 |
321.571 |
241.219 |
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
40.282 |
39.001 |
39.617 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
29.462 |
23.599 |
23.243 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE EXCEPTIONAL ITEMS AND
TAX |
10.820 |
15.402 |
16.374 |
|
|
|
|
|
|
|
|
|
Less |
EXCEPTIONAL
ITEMS |
2.293 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER EXCEPTIONAL ITEMS AND
TAX |
8.527 |
15.402 |
16.374 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
5.077 |
1.817 |
6.390 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
5.743 |
13.585 |
9.984 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
51.189 |
37.604 |
27.620 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
56.932 |
51.189 |
37.604 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
FOB Value of Exports |
5.752 |
11.426 |
29.908 |
|
|
TOTAL EARNINGS |
5.752 |
11.426 |
29.908 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
23.327 |
3.715 |
13.432 |
|
|
|
Finish |
0.000 |
2.197 |
0.000 |
|
|
|
Stores & Spares |
1.647 |
1.279 |
0.386 |
|
|
|
Coal |
1.713 |
0.000 |
0.000 |
|
|
|
Capital Goods |
21.270 |
41.797 |
28.777 |
|
|
TOTAL IMPORTS |
47.957 |
48.988 |
42.595 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
1.95 |
4.62 |
3.44 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
1.83
|
3.77 |
3.56 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
2.74
|
4.29 |
5.91 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.58
|
3.73 |
4.28 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.05
|
0.10 |
0.14 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
1.62
|
1.33 |
1.97 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.96
|
0.96 |
0.85 |
LOCAL AGENCY FURTHER INFORMATION
CURRENT
MATURITIES OF LONG TERM DEBTS
|
Particulars |
31.03.2013 (Rs.
In Millions) |
31.03.2012 (Rs.
In Millions) |
31.03.2011 (Rs.
In Millions) |
|
|
|
|
|
|
Current Maturities of Long Term Debts |
39.377 |
35.632 |
32.818 |
|
|
|
|
|
|
Sr. No. |
Check List by Info Agents |
Available in
Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
No |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact
person |
Yes |
|
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 |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/ MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
10061333 |
30/07/2013 * |
380,500,000.00 |
STATE BANK OF INDIA |
MID-CORPORATE GROUP INDUSTRIAL FINANCE BRANCH, MARBLE ARCH, RACE COURSE CIRCLE, VADODARA - 390007, GUJARAT, INDIA |
B82615576 |
|
2 |
10047942 |
30/07/2013 * |
284,500,000.00 |
STATE BANK OF INDIA |
MID-CORPORATE GROUP INDUSTRIAL FINANCE BRANCH, MARBLE ARCH, RACE COURSE CIRCLE, VADODARA - 390007, GUJARAT, INDIA |
B82617812 |
* Date of charge modification
UNSECURED LOANS
|
PARTICULAR |
31.03.2013 (Rs.
in Millions) |
31.03.2012 (Rs.
in Millions) |
|
LONG TERM BORROWINGS |
|
|
|
Loans and Advances from Related Parties |
1.353 |
5.879 |
|
Loans and Advances from other Parties |
40.775 |
30.760 |
|
Total |
42.128 |
36.639 |
YEAR IN RETROSPECT
AND FUTURE OUTLOOK:
During the year, the Company has achieved total turnover of Rs. 311.247 Millions as against Rs. 358.857 Millions of previous year. The export sales of the Company have reduced by approx. 50% to Rs. 5.752 Millions as against Rs. 11.426 Millions of previous year thereby impacting the margins. The net profit of the Company has fallen to Rs. 5.743 Millions on account of loss on sale of fixed assets. The recession in textile industry, depressing global scenario and extremely volatile fluctuations in the Foreign Exchange rate have due impact on the performance of the Company. The management clearly outlined various initiatives and is exploring newer markets at global level to negate the current challenges and come out with better returns.
CONTINGENT
LIABILITIES (AS ON 31.03.2013):
|
a) Claims against the company not ack. As debts |
Nil |
|
b) Gaurantees |
Contingent liability to the extent of Rs. 24.232 Millions (P.Y. 24.276 Millions) not provided in books of accounts against bond executed in favour of customs department towards export commitment under EPCG and Advance licence Scheme. Rs 690.000 Millions towards Gaurantee given to Financial Institutions for loan taken by New Palasana Ind Coop Soc Limited (CETP Purpose) |
|
Other money for which the company is contingently liable |
Exclse Demand raised by Central Excise Department liable for Rs 0.234 Millions pending at CESTATE and Rs 0.720 Millions which is pending at Commissioner appeals |
FIXED ASSETS
· Land
Building
Plant
and Machinery
Electrification
Office
Equipments
Furniture
and Fixture
Computers
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.61.67 |
|
|
1 |
Rs.100.65 |
|
Euro |
1 |
Rs.84.25 |
INFORMATION DETAILS
|
Information Gathered
by : |
HNA |
|
|
|
|
Report Prepared
by : |
MRI |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
3 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
32 |
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.