MIRA
INFORM REPORT
|
Report Date : |
18.01.2013 |
IDENTIFICATION DETAILS
|
Name : |
VENUS FURNITURE PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Plot No.8, Kalawa Block, TTC Industry Area, Digha Tallow, Digha Village,
Belapur Road, Thane, Navi Mumbai- 400708, Maharashtra |
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|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
30.04.2004 |
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|
|
|
Com. Reg. No.: |
11-146036 |
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|
|
|
Capital Investment
/ Paid-up Capital : |
Rs.6.361 millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U36100MH2004PTC146036 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMV12111B |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCV9128J |
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|
Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer of Office Furniture |
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|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (28) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 26000 |
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|
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|
Status : |
Moderate |
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Payment Behaviour : |
Slow |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate track record. The
company has been successful in wiping – off its accumulated losses of the
previous year. However, the company is still improving. Trade relations are reported
as fair. Business is active. Payments are reputed to be slow. 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.
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 : |
Plot No.8, Kalawa Block, TTC Industry Area, Digha Tallow, Digha
Village, Belapur Road, Thane, Navi Mumbai - 400708, Maharashtra, India |
|
Tel. No.: |
91-22-25173558/27694062 |
|
Fax No.: |
Not Available |
|
E-Mail : |
DIRECTORS
As on 29.09.2012
|
Name : |
Mr. Chandresh Prajivandas Thakkar |
|
Designation : |
Director |
|
Address : |
A-802, Somnath Enclave, B/4, Sargat Shopping Centre, Parle
Point,Surat-395007, Gujarat, India |
|
Date of Birth/Age : |
01.06.1960 |
|
Date of Appointment : |
30.04.2004 |
|
DIN No.: |
00382025 |
|
|
|
|
Name : |
Mr. Hitesh Kantilal Dalwadi |
|
Designation : |
Director |
|
Address : |
9 – C, Trimurti Apartment, |
|
Date of Birth/Age : |
12.04.1962 |
|
Date of Appointment : |
30.04.2004 |
|
DIN No.: |
00382049 |
|
|
|
|
Name : |
Mrs. Parul Sunil Dalwadi |
|
Designation : |
Director |
|
Address : |
401, |
|
Date of Birth/Age : |
08.06.1968 |
|
Date of Appointment : |
30.04.2004 |
|
DIN No.: |
|
MAJOR SHAREHOLDERS
As on 29.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
Mr. Hitesh Kantilal Dalwadi |
|
212000 |
|
Mr. Chandresh Prajivandas Thakkar |
|
212000 |
|
Mrs. Parul Sunil Dalwadi |
|
212000 |
|
Decor Home (india) Private Limited |
|
50 |
|
Madhvi Hitesh Thakkar |
|
20 |
|
Maccorro Engineering India Private Limited |
|
10 |
|
Virani M K |
|
10 |
|
Majithia Nayanaben V. |
|
10 |
|
Shah Bharat Kumar Deepchand |
|
10 |
|
Gupta Vivek D. |
|
10 |
|
Total |
|
636120 |
Equity Share Break up (Percentage of Total Equity)
As on 29.09.2012
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Office Furniture |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
||||||||||||
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|
||||||||||||
|
Bankers : |
The Cosmos Co-Operative Bank Limited, Bandra Branch, Lubina Apartment,
Turner Road, Bandra (west), Mumbai-400050, Maharashtra |
||||||||||||
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Facilities : |
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Banking
Relations : |
---- |
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Auditors : |
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|
Name : |
S. K. Kabra and Company Chartered Accountants |
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Tel No.: |
91-261-2320131 / 3109695 |
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Email: |
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|
Address : |
1006 Rathi Palace, Kamela Darwaja, Surat – 395002, Gujarat, India |
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PAN No.: |
AAJFS6674D |
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Enterprise Controlled by Key Management Personnel: |
Décor Home Visit India Private Limited |
CAPITAL STRUCTURE
As on 29.09.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
750000 |
Equity Shares |
Rs.10/- each |
Rs. 7.500 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
636120 |
Equity Shares |
Rs.10/- each |
Rs. 6.361 Millions |
|
|
|
|
|
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 |
|
|
|
|
|
1] Share Capital |
6.361 |
6.361 |
6.361 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
0.324 |
0.000 |
0.000 |
|
|
4] (Accumulated Losses) |
0.000 |
(3.203) |
(0.088) |
|
|
NETWORTH |
6.685 |
3.158 |
6.273 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
26.654 |
34.281 |
43.522 |
|
|
2] Unsecured Loans |
86.959 |
74.899 |
50.618 |
|
|
TOTAL BORROWING |
113.613 |
109.180 |
94.140 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
120.298 |
112.338 |
100.413 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
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|
FIXED ASSETS [Net Block] |
66.632 |
65.174 |
61.230 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
1.000 |
0.098 |
0.098 |
|
|
DEFERRED TAX ASSETS |
2.225 |
3.131 |
1.897 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
31.295
|
31.059 |
22.530 |
|
|
Sundry Debtors |
42.119
|
46.373 |
13.028 |
|
|
Cash & Bank Balances |
1.345
|
1.419 |
3.821 |
|
|
Other Current Assets |
6.885
|
4.481 |
0.695 |
|
|
Loans & Advances |
7.284
|
4.887 |
6.850 |
|
Total
Current Assets |
88.928
|
88.219 |
46.924 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
12.617
|
16.719 |
8.899 |
|
|
Other Current Liabilities |
25.870
|
27.565 |
0.865 |
|
|
Provisions |
0.000
|
0.000 |
0.000 |
|
Total
Current Liabilities |
38.487
|
44.284 |
9.764 |
|
|
Net Current Assets |
50.441
|
43.935 |
37.160 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.028 |
|
|
|
|
|
|
|
|
TOTAL |
120.298 |
112.338 |
100.413 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
158.005 |
126.294 |
63.002 |
|
|
|
Other Income |
17.412 |
9.491 |
8.831 |
|
|
|
TOTAL (A) |
175.417 |
135.785 |
71.833 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Raw Material Cons / Purchases |
170.982 |
89.962 |
36.245 |
|
|
|
Manufacturing Expenses |
|
12.736 |
5.630 |
|
|
|
Administrative & Gen Expenses |
|
11.788 |
7.291 |
|
|
|
Employees Documents |
|
8.344 |
7.480 |
|
|
|
Preliminary Expense |
|
0.015 |
0.015 |
|
|
|
Increase/(Decrease) in stocks |
|
(5.333) |
5.709 |
|
|
|
TOTAL (B) |
170.982 Including
Finance and Depreciation) |
117.512 |
62.370 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ LOSS BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
|
18.273 |
9.463 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
|
15.087 |
9.404 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ LOSS BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
|
3.186 |
0.059 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
|
7.305 |
6.685 |
|
|
|
|
|
|
|
|
|
|
PROFIT /
LOSS BEFORE TAX (E-F) (G) |
4.435 |
(4.119) |
(6.626) |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
0.908 |
(1.004) |
(2.597) |
|
|
|
|
|
|
|
|
|
|
PROFIT / LOSS
AFTER TAX (G-H) (I) |
3.527 |
(3.115) |
(4.029) |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
(3.203) |
(0.088) |
3.941 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
N.A |
(3.203) |
(0.088) |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
FOB Value of Export |
0.360 |
0.000 |
0.000 |
|
|
TOTAL EARNINGS |
0.360 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
35.417 |
34.074 |
0.000 |
|
|
TOTAL IMPORTS |
35.417 |
34.074 |
0.000 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
5.54 |
4.89 |
6.33 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
2.01
|
(2.29) |
(5.61) |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
2.81
|
(3.26) |
(10.52) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.85
|
(2.68) |
(6.13) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.66
|
(1.30) |
(1.06) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
22.75
|
48.60 |
16.56 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.31
|
1.99 |
4.81 |
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 |
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 |
No |
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate
identity number of the company |
U36100MH2004PTC146036 |
|
Name of the
company |
VENUS FURNITURE
PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
Plot No. 8, Kalwa
block, TTC Industrial Area Opp. Digha talaw, vill.:digha, Thane, Belapur Road
Navi Mumbai – 400708, Maharashtra, India |
|
This form is for |
Modification of charge |
|
Charge
identification (ID) number of the charge to be modified |
10113999 |
|
Type of charge |
Immovable
Property |
|
Particular of
charge holder |
The Cosmos Co-Op
Bank Limited, Bandra Branch, ,Lubina Apartment, Turner Road, Bandra West Mumbai – 400050, Maharashtra,
India |
|
Nature of
instrument creating charge |
Composite Deed of
Mortgage and hypothecation for creation of further charge on Mortgaged
properties |
|
Date of
instrument Creating the charge |
08.10.2012 |
|
Amount secured by
the charge |
Rs. 268.200
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest Cash
credit:14%p.a. cheque purchase: 18% p.a.or at such rate as maybe determined
by the bank from time to time Terms of Repayment Cash credit:On demand
(review within 12 months) Letter of Credit:
On demand (review within 12 months) Bank Guarantee:
As per terms of Bank Guarantee Cheque
purchase:On demand (review within 12 months) Letter of credit:
One time : One time Basis Margin Cash credit: 25% in
bank's favour Letter of Credit:
15% in bank's favour Bank Guarantee:
25% in bank's favour Letter of credit:
One time: 15% in banks favour Extent and Operation of the charge CC: Rs
25.000Millions, L/C: Rs 22.500
Millions, Bank Guarantee: Rs 10.000Millions, Term Loan 1: Rs.75,00,000
Millions, Term Loan 2: Rs 1,00,00,000 Millions, Term Loan 3: Rs 16.900 Millions, Term Loan 4: Rs.7.500
Millions, and Lease Rental Discounting: Rs 6.300 Decor Home (I)
Private LImited:CC: Rs 85.000,L/c: Rs 5.000,Bank Guarantee:Rs 65.000
Millions, Cheque Purchase : Rs 1.500 Millions, Letter of credit: One time: Rs
15.000 Millions Others Due to size
constraint page no 1- 15 of the agmt is filed with this form, kindly allow us
to file balance agreement vide form no 67 |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
·
Mortgage
of all that piece and parcel of land being plot no 8A-1/2B situate in TTC Industrial Area within the
village limits of Dighe within registration and district of Thane solely
belonging ·
To
the company and more particularly described in schedule I together with
freehold portion of land together with construction made or being made
thereon ·
Mortgage
of all that piece and parcel of land being plot no 8A-1/2B MIDC situate in
TTC Industrial Area within the village limits of Dighe within registration
and district of Thane solely belonging ·
To
the company and more particularly described in schedule I attached herewith
together with leasehold portion of land together with construction made or
being made thereon |
|
Date of
instrument modifying the charge |
19.01.2012 |
|
Particulars of
the present modification |
Cash credit limit enhanced from Rs 70.000 Millions to Rs 85.000 Millions (additional Rs 15.000 Millions),Bank guarantee enhanced from Rs 35.000 Millions to Rs 65.000 Millions( additional Rs 30.000 Millions), One time Bank guarantee of Rs 10.000 Millions and Rs 7.500 Millions is cancelled. Overall limit secured is Rs 268.200 MIllions |
|
Unsecured Loan |
31.03.2012 (Rs.
in Millions) |
31.03.2011 (Rs.
in Millions) |
|
Loans and advances from related parties |
47.805 |
71.461 |
|
Loans and advances from other parties |
39.154 |
3.438 |
|
Total |
86.959 |
74.899 |
FIXED ASSETS
- Land
- Building
- Furniture
- Plant &
Machinery
- Equipments
- Vehicles
- Computers,
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.54.83 |
|
|
1 |
Rs.87.99 |
|
Euro |
1 |
Rs.72.83 |
INFORMATION DETAILS
|
Report Prepared
by : |
SPN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
2 |
|
--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 |
|
TOTAL |
|
28 |
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.