1. Summary Information
|
Country |
India |
||
|
Company Name |
FLORENCE SHOE COMPANY PRIVATE LIMITED |
Principal Name 1 |
Mr. Panaruna Aqeel Ahmed |
|
Status |
Satisfactory |
Principal Name 2 |
Mrs. Nattamkar Ishrath Khatoon |
|
Registration # |
18-007584 |
||
|
Street Address |
Florence Centre, 69, E.V.K Sampath Road, Vepery, Chennai – 600007,
Tamilnadu, India |
||
|
Established Date |
28.08.1978 |
SIC Code |
-- |
|
Telephone# |
91-44-52606062 |
Business Style 1 |
Manufacturer |
|
Fax # |
91-44-52606082 |
Business Style 2 |
-- |
|
Homepage |
Product Name 1 |
Shoe |
|
|
# of employees |
1000 (Approximately) |
Product Name 2 |
Shoe Upper |
|
Paid up capital |
Rs.
5,000,000 /- |
Product Name 3 |
-- |
|
Shareholders |
Directors or
relatives of Directors - 100.00 % |
Banking |
State Bank of
India |
|
Public Limited Corp. |
No |
Business Period |
35 Years |
|
IPO |
No |
International Ins. |
- |
|
Public |
No |
Rating |
Ba
(46) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
CEO |
|
Related Parties |
India |
Zermatt Shoes Private Limited |
-- |
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2012 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
328,317,000 |
Current Liabilities |
607,300,000 |
|
Inventories |
102,408,000 |
Long-term Liabilities |
0,000 |
|
Fixed Assets |
293,719,000 |
Other Liabilities |
21,627,000 |
|
Deferred Assets |
0,000 |
Total Liabilities |
628,927,000 |
|
Invest& other Assets |
575,000 |
Retained Earnings |
91,092,000 |
|
|
|
Net Worth |
96,092,000 |
|
Total Assets |
725,019,000 |
Total Liab. & Equity |
725,019,000 |
|
Total Assets (Previous Year) |
710,322,000 |
|
|
|
P/L Statement as of |
31.03.2012 |
(Unit: Indian Rs.) |
|
|
Sales |
-- |
Net Profit |
7,955,000 |
|
Sales(Previous yr) |
-- |
Net Profit(Prev.yr) |
13,351,000 |
MIRA INFORM REPORT
|
Report Date : |
21.03.2013 |
IDENTIFICATION DETAILS
|
Name : |
FLORENCE SHOE COMPANY PRIVATE LIMITED |
|
|
|
|
Formerly Known
As : |
ANAIKAR SHOE COMPANY PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Florence Centre, 69, E.V.K Sampath Road, Vepery, Chennai – 600007,
Tamilnadu |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
28.08.1978 |
|
|
|
|
Com. Reg. No.: |
18-007584 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 5.000 millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U19129TN1978PTC007584 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
CHEF03160D |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACF2415R |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Shoe and Shoe Upper. |
|
|
|
|
No. of Employees
: |
1000 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (46) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 380000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track record.
There appears some dip in the profitability of the company during current year.
However, net worth appears to be satisfactory. Trade relations are reported
as fair. Business is active. Payments are reported to be usually correct and
as per commitments. 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 : |
Florence Centre, 69, E.V.K Sampath Road, Vepery, Chennai – 600007, Tamilnadu,
India |
|
Tel. No.: |
91-44-52606062 |
|
Fax No.: |
91-44-52606082 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Tannery : |
2/31, K.M Nagar, IIIrd Street, Ambur – 635 802, Tamilnadu, India |
|
|
|
|
Factory 1 : |
156/103, Bangalore, Road, Mulipalayam, Vellore – 632 008, Tamilnadu,
India |
|
|
|
|
Factory 2 : |
91/25-1, Bangalore, Road, Shenbakkam, Vellore – 632 008, Tamilnadu, India |
|
|
|
|
Factory 3 : |
157/102, Bangalore Road, Mullipalayam, Vellore – 632 008, Tamilnadu,
India |
|
|
|
|
Factory 4: |
102, M.C. Road, Gangapuram, Ambur – 632 802, Tamilnadu, India |
|
|
|
|
Factory 5 : |
95/25-G, Bangalore Road, Mullipalayam, Vellore – 632 008, Tamilnadu,
India |
|
|
|
|
Factory 6 : |
7/1B, Somalapuram, Ambur – 635 802, Tamilnadu, India |
|
|
|
|
Factory 7 : |
97/25F, Madras Bangalore Trunk Road, Mullipalayam, Shenbakkam Post, Vellore
– 632008, Tamilnadu, India |
|
|
|
|
Factory 8 : |
7/1A, 8/1A, Peria Kommeswaram, Road, Somalapuram Village, Ambur -
635802, Tamilnadu, India |
|
|
|
|
Sole Factory : |
2-1/31, K.M. Nagar, IIIrd Street, Ambur – 635 802, Tamilnadu, India |
DIRECTORS
As on 29.09.2012
|
Name : |
Mr. Panaruna Aqeel Ahmed |
|
Designation : |
Managing Director |
|
Address : |
Old No. 16, New No. 5, Sterling Road 1st Cross Street, Nungambakkam,
Chennai – 600 034, Tamilnadu, India |
|
Date of Birth/Age : |
07.05.1964 |
|
Date of Appointment : |
31.03.1995 |
|
PAN No.: |
ABYPA3803A |
|
DIN No.: |
00225381 |
|
|
|
|
Name : |
Mrs. Nattamkar Ishrath Khatoon |
|
Designation : |
Director |
|
Address : |
Old No. 16, New No. 5, Sterling Road 1st Cross Street, Nungambakkam,
Chennai – 600 034, Tamilnadu, India |
|
Date of Birth/Age : |
18.11.1968 |
|
Date of Appointment : |
27.04.2010 |
|
DIN No.: |
00225387 |
|
|
|
|
Name : |
Mr. Mohammed Sannan Pana Runa |
|
Designation : |
Director |
|
Address : |
Old No. 16, New No. 5, Sterling Road 1st Cross Street,
Nungambakkam, Chennai – 600 034, Tamilnadu, India |
|
Date of Birth/Age : |
14.10.1988 |
|
Date of Appointment : |
18.12.2006 |
|
PAN No.: |
BIZPS3283H |
|
Passport No.: |
E5469650 |
|
DIN No.: |
00928743 |
|
|
|
|
Name : |
Mr. Anees Ahmed Thaday |
|
Designation : |
Whole Time Director |
|
Address : |
2/3, Nawab Habibullah Avenue, 2nd Street Thousand Lights,
Chenni – 600006, Tamilnadu, India |
|
Date of Birth/Age : |
20.03.1962 |
|
Date of Appointment : |
01.06.2012 |
|
DIN No.: |
00419866 |
KEY EXECUTIVES
|
Name : |
S. Saraskumar and Associates |
|
Designation : |
Company Secretaries |
|
Address : |
25/1, karnan Street, First Floor, Vathiyar Thottam, Kodambakkam,
Chennai – 600 024, |
|
Tel No.: |
91-44-24832294 |
|
E-mail: |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 29.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
P.R. Aqueel Ahmed |
|
5000 |
|
N. Ishrath Khatoon |
|
12500 |
|
P. R. Mohammed Sannan |
|
12500 |
|
P. R. Mohammed Raiyan |
|
12500 |
|
P. R. Lina Mariam |
|
7500 |
|
Total |
|
50000 |
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 Shoe and Shoe Upper. |
||||||
|
|
|
||||||
|
Products : |
|
PRODUCTION STATUS (As on 31.03.2011)
|
Particulars |
Unit |
Actual
Production |
|
Full Shoes |
Pairs |
1653860 |
GENERAL INFORMATION
|
No. of Employees : |
1000 (Approximately) |
|
|
|
|
Bankers : |
State Bank of India, Leather International Branch, MVJ Towers, 177/1
Poonamalee High Road, Kilpauk, Chennai – 600010, Tamilnadu, India |
|
|
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
R. Venkataramani and Associates Chartered Accountants |
|
Address : |
No. 13 (Old No.7), Thiru VI Ka. 3rd Street, Royapettah High
Road, Mylapore, Chennai – 600004, Tamilnadu, India |
|
PAN No.: |
AACPV5424B |
|
|
|
|
Related Parties : |
·
Zermatt Shoes Private Limited, CIN No.:
U19116TN2006PTC059322 ·
Lugano Shoes Private Limited, India CIN No.: U19200TN2010PTC075485 |
CAPITAL STRUCTURE
As on 31.03.2012
Authorized Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
100000 |
Equity Shares |
Rs.100/- each |
Rs. 10.000 millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
50000 |
Equity Shares |
Rs.100/- each |
Rs. 5.000
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 |
5.000 |
5.000 |
5.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
91.092 |
79.005 |
65.654 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
96.092 |
84.005 |
70.654 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
0.000 |
0.000 |
0.000 |
|
|
DEFERRED TAX LIABILITIES |
5.280 |
6.673 |
7.010 |
|
|
|
|
|
|
|
|
TOTAL |
101.372 |
90.678 |
77.664 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
293.719 |
296.942 |
274.337 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.575 |
0.575 |
0.575 |
|
|
DEFERRED TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
102.408
|
136.100
|
85.121
|
|
|
Sundry Debtors |
163.217
|
129.094
|
142.191
|
|
|
Cash & Bank Balances |
26.088
|
24.287
|
30.650
|
|
|
Other Current Assets |
74.827
|
45.587
|
0.000
|
|
|
Loans & Advances |
64.185
|
77.737
|
86.123
|
|
Total
Current Assets |
430.725
|
412.805
|
344.085
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
605.132
|
603.368
|
532.868
|
|
|
Other Current Liabilities |
2.168
|
1.340
|
3.615
|
|
|
Provisions |
16.347
|
14.936
|
4.850
|
|
Total
Current Liabilities |
623.647
|
619.644
|
541.333
|
|
|
Net Current Assets |
(192.922)
|
(206.839)
|
(197.248)
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
101.372 |
90.678 |
77.664 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
NA |
NA |
1727.343 |
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL |
NA |
NA |
1727.343 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
1710.782 |
|
|
|
|
TOTAL |
NA |
NA |
1710.782 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
PROFIT/LOSS BEFORE TAX |
14.212 |
15.514 |
16.561 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
6.257 |
2.836 |
4.759 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ LOSS
AFTER TAX |
7.955 |
13.351 |
11.802 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
NA |
NA |
34.815 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
NA |
NA |
46.617 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
1767.385 |
1805.494 |
1503.352 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Leather |
0.000 |
|
236.137 |
|
|
|
Shoe materials and Chemicals |
255.311 |
201.016 |
|
|
|
|
Raw Materials |
21.149 |
0.000 |
|
|
|
|
Capital goods |
5.482 |
0.000 |
|
|
|
TOTAL IMPORTS |
281.942 |
261.565 |
236.137 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
159.10 |
267.02 |
236.04 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
NA
|
NA
|
0.68
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.96
|
2.18
|
2.68
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.15
|
0.18
|
0.23
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.00
|
0.00
|
0.00
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.69
|
0.67
|
0.64
|
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 |
Yes |
|
9] |
Name of person contacted |
No |
|
10] |
Designation of contact
person |
No |
|
11] |
Turnover of firm for last
one 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 |
No |
|
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 |
FIXED ASSETS
· Land
· Buildings
· Plant and equipment
· Furniture and fixtures
· Vehicles
· Computer equipments
·
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.54.38 |
|
|
1 |
Rs.82.07 |
|
Euro |
1 |
Rs.70.04 |
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 |
4 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--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 |
|
46 |
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.