MIRA INFORM REPORT
|
Report Date : |
19.11.2013 |
IDENTIFICATION DETAILS
|
Name : |
ITEMA WEAVING (INDIA) PRIVATE LIMITED (w.e.f. 27.11.2007) |
|
|
|
|
Formerly Known
As : |
SULTEX (INDIA) PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
MLD Commercial Centre, G-3/1, Cross Road, A MIDC, Andheri (East),
Mumbai-400093, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
24.06.2002 |
|
|
|
|
Com. Reg. No.: |
11-136299 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 32.756 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74999MH2002PTC136299 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMS39545C |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAGCS5557F |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject is engaged in marketing of textile machinery manufactured by Itema
(Switzerland) Limited as well as creation and commissioning of textile
machinery. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (44) |
|
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 a satisfactory track record.
There appears some dip in the turnover and profitability of the company
during the year. However, net worth of the company is satisfactory. No
external borrowings recorded. Trade relations are reported as fair. Business
is active. Payments are reported as fair. Business is active. Payments are
reported to be usually correct and as per commitment. The company can be considered normal for business dealings at usual
trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – March 31st, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
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
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.
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 : |
MLD Commercial Centre, G-3/1, Cross Road, A MIDC, Andheri (East),
Mumbai-400093, Maharashtra, India |
|
Tel. No.: |
91-22-42756000 |
|
Fax No.: |
91-22-42755050 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Branch Office 1 : |
Hall No.203, 2nd Floor, PSR Complex, Opposite Rani Market,
B-18/3695/6, Model Gram, Ludhiana-141002, Punjab, India |
|
Tel. No.: |
91-161-6518824 |
|
|
|
|
Branch Office 2 : |
Navamani, 53-E1, P N Palayam Road, Varadraj Layout, Ganapathy,
Coimbatore-641006, Tamilnadu, India |
|
Tel. No.: |
91-422-4294000/ 2566140 |
|
Fax No.: |
91-422-2566150 |
DIRECTORS
AS ON 30.09.2013
|
Name : |
Mr. Tapas Nandi |
|
Designation : |
Director |
|
Address : |
Flat No.2502, 25th Floor, Building No C-1, Freesha
Neelkanth Greens, Off GB Road, Manpada, Thane (West), Thane-400610,
Maharashtra, India |
|
Date of Birth/Age : |
06.01.1965 |
|
Date of Appointment : |
17.12.2007 |
|
DIN No.: |
01932826 |
Other Directorship:
|
S.
No. |
CIN/LLPIN |
Name
of the Company/ LLP |
Current
designation of the Director/ Designated Partner |
Date
of appointment at current designation |
Original
date of appointment |
Company/
LLP Status |
Defaulting
status |
|
1 |
U74999MH2002PTC136299 |
ITEMA WEAVING
(INDIA) PRIVATE LIMITED |
Director |
26/09/2008 |
17/12/2007 |
Active |
NO |
|
Name : |
Fulvio Carlo Toma |
|
Designation : |
Director |
|
Address : |
Via Leoncavallo Ruggero, 45, Milan, 20131, Italy |
|
Date of Birth/Age : |
08.05.1960 |
|
Date of Appointment : |
26.08.2013 |
|
DIN No.: |
06640223 |
Other Directorship:
|
S.
No. |
CIN/LLPIN |
Name
of the Company/ LLP |
Current
designation of the Director/ Designated Partner |
Date
of appointment at current designation |
Original
date of appointment |
Company/
LLP Status |
Defaulting
status |
|
1 |
U74999MH2002PTC136299 |
ITEMA WEAVING
(INDIA) PRIVATE LIMITED |
Director |
30/09/2013 |
26/08/2013 |
Active |
NO |
|
Name : |
Giacomo Sala |
|
Designation : |
Director |
|
Address : |
Via XX Settembre 6, (LC), Osango, 23975, Italy |
|
Date of Birth/Age : |
28.02.1971 |
|
Date of Appointment : |
26.08.2013 |
|
DIN No.: |
06640526 |
Other Directorship:
|
S.
No. |
CIN/LLPIN |
Name
of the Company/ LLP |
Current
designation of the Director/ Designated Partner |
Date
of appointment at current designation |
Original
date of appointment |
Company/
LLP Status |
Defaulting
status |
|
1 |
U74999MH2002PTC136299 |
ITEMA WEAVING
(INDIA) PRIVATE LIMITED |
Director |
30/09/2013 |
26/08/2013 |
Active |
NO |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2013
|
Names of Shareholders |
No. of Shares |
|
Itema (Switzerland) Limited, Switzerland |
3275642 |
|
Sultex-Export GmbH, Switzerland |
1 |
|
TOTAL
|
3275643 |
AS ON 30.09.2013
|
Equity Shares
Break Up |
Percentage of
Holding |
|
Foreign holdings( Foreign institutional investor(s), Foreign
companie(s) Foreign financial institution(s), Non-resident Indian(s) or
Overseas Corporate bodies or Others |
100.00 |
|
TOTAL |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in marketing of textile machinery manufactured by
Itema (Switzerland) Limited as well as creation and commissioning of textile
machinery. |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
|
|
|
|
Bankers : |
Not Available |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
S S Jhunjhunwala and Company Chartered Accountant |
|
Address : |
204-306, Akruti Arcade, J P Road, Opposite Wadia High School, Andheri
(West), Mumbai-400093, Maharashtra, India |
|
PAN No.: |
AAGFS6934F |
|
|
|
|
Ultimate Holding Company : |
Itema S.P.A |
|
|
|
|
Holding Company : |
Itema Switzerland Limited |
|
|
|
|
Fellow Subsidiaries : |
|
CAPITAL STRUCTURE
AS ON 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
8000000 |
Equity Shares |
Rs.10/- each |
Rs. 80.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3275643 |
Equity Shares |
Rs.10/- each |
Rs. 32.756
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 |
32.756 |
32.756 |
37.756 |
|
(b) Reserves & Surplus |
64.495 |
63.783 |
53.330 |
|
(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) |
97.251 |
96.539 |
91.086 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
0.120 |
0.120 |
0.262 |
|
(d) long-term
provisions |
0.654 |
0.446 |
2.084 |
|
Total Non-current
Liabilities (3) |
0.774 |
0.566 |
2.346 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade
payables |
8.093 |
4.369 |
8.114 |
|
(c) Other
current liabilities |
6.297 |
4.238 |
8.452 |
|
(d) Short-term
provisions |
1.384 |
6.014 |
1.422 |
|
Total Current
Liabilities (4) |
15.774 |
14.621 |
17.988 |
|
|
|
|
|
|
TOTAL |
113.799 |
111.726 |
111.420 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
15.174 |
8.430 |
10.088 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.048 |
|
(iii)
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
0.512 |
0.850 |
0.788 |
|
(d) Long-term Loan and Advances |
3.241 |
3.894 |
4.489 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
18.927 |
13.174 |
15.413 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
18.607 |
20.576 |
23.588 |
|
(c) Trade
receivables |
15.573 |
6.037 |
15.291 |
|
(d) Cash
and cash equivalents |
58.217 |
65.429 |
50.700 |
|
(e)
Short-term loans and advances |
1.739 |
3.768 |
3.082 |
|
(f) Other
current assets |
0.736 |
2.742 |
3.346 |
|
Total
Current Assets |
94.872 |
98.552 |
96.007 |
|
|
|
|
|
|
TOTAL |
113.799 |
111.726 |
111.420 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
|
|
|
|
|
|
|
|
Income |
81.558 |
|
|
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL (A) |
81.558 |
95.240 |
88.103 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
|
55.895 |
|
|
|
|
|
Purchase of Stock In Trade |
|
|
|
|
|
|
Employee benefits expenses |
|
|
|
|
|
|
TOTAL (B) |
55.895 |
53.400 |
58.052 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
25.663 |
41.840 |
30.051 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
0.078 |
0.085 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
25.585 |
41.755 |
30.051 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
1.907 |
1.664 |
3.021 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
23.678 |
40.091 |
27.030 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
7.738 |
13.638 |
9.394 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
15.940 |
26.453 |
17.636 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
41.754 |
15.301 |
12.637 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
2.368 |
0.000 |
1.764 |
|
|
|
Interim Dividend |
13.103 |
0.000 |
7.551 |
|
|
|
Tax on Dividend |
2.126 |
0.000 |
1.254 |
|
|
|
Proposed Final Dividend |
0.000 |
0.000 |
3.776 |
|
|
|
Tax on Proposed Dividend |
0.000 |
0.000 |
0.627 |
|
|
BALANCE CARRIED
TO THE B/S |
40.097 |
41.754 |
15.301 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
4.87 |
-- |
-- |
|
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KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
19.54
|
27.78 |
20.02 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
20.90
|
36.16 |
24.43 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.24
|
0.42 |
0.30 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.00
|
0.00 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
6.01
|
6.74 |
5.34 |
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 |
No |
|
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 |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
No |
VIEW INDEX OF
CHARGES – No charges exits for the company
BACKGROUND
The company was incorporated under the Companies Act, 1956 on June 24,
2002 under the name of Sultex (India) Private Limited. The fixed assets,
employees and employee liabilities of Itema India Limited were transferred to
the company under an Asset Sale Agreement and a Memorandum of understanding
with effect from January 01, 2008 and the company’s name was changes to Itema
Weaving (India) Private Limited.
The company is a 100 percent subsidiary of Itema (Switzerland) Limited
and is one of the Itema group operating companies in the Asia Pacific region.
It is and interface between Itema (Switzerland) Limited and its Indian
Clientele. The Company has business interest in marketing of textile machinery
manufactured by Itema (Switzerland) Limited as well as creation and
commissioning of textile machinery.
OPERATIONS
During the year, the company achieved a total income aggregating to Rs.
81.559 Millions as compared to Rs. 95.240 Million in the previous year ended 31st
March, 2012. The total expenditure amounted to Rs. 55.895 Millions as against
Rs. 53.400 Millions during the previous year. After providing for interest,
depreciation and taxation, the company has generated a net profit of Rs. 15.940
Millions as compared to Rs. 26.453 Millions. In the previous year.
FIXED ASSETS
- Land
- Building
- Lease Hold
Improvement
- Plan and
Machinery
- Tools and
Equipment’s
- Furniture and
Fixtures
- Air
Conditioner
- Office
Equipment’s
- Computer
- Vehicles
- Computer
Software
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 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. 62.62 |
|
UK Pound |
1 |
Rs. 101.06 |
|
Euro |
1 |
Rs. 84.55 |
INFORMATION DETAILS
|
Report Prepared
by : |
DPT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
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 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
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 |
|
44 |
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.