MIRA INFORM REPORT
|
Report Date : |
07.10.2013 |
IDENTIFICATION DETAILS
|
Name : |
TIMEX ART DECOR PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
102, Shivam Apartment, Sant Janbai Marg, Opposite Greater Bank, Vile Parle
(East), Mumbai-400057, Maharashtra |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
10.08.2005 |
|
|
|
|
Com. Reg. No.: |
11-155275 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 66.500
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U20210MH2005PTC155275 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMT12929A |
|
|
|
|
PAN No.: [Permanent Account No.] |
AACCT2857K |
|
|
|
|
Legal Form : |
Private Limited Liability Company. |
|
|
|
|
Line of Business
: |
Manufacturer of Laminates and Wood Based Products. |
|
|
|
|
No. of Employees
: |
Information denied by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
B (29) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 630000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow But Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having a moderate track record. Profitability of the company appears to be low. Rating also takes into
consideration volatility in raw material prices and cyclicality inherent in
the business due to dependence on real estate sector. 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
We are living in a
world where volatility and uncertainty have become the New Normal. We saw
a change of government in countries like Tunisia, Egypt, Libya and Vietnam.
Once powerful countries in Europe are now fighting for bankruptcy. We have
taken growth in the developing part of the world for granted but economic
growth in China and India has begun to slow. Companies that were synonymous
with their product categories just a few years ago are now no longer in
existence. Kodak, the inventor of the digital camera had to wind up its
operations, HMV, the British entertainment retailing company and Borders, once
the second largest bookstore have shut down due to their inability to evolve
their business models with the changing time. Readers’ Digest, Thomson Register
are no more !
There is another
megatrend happening. The World order is changing as economic power shifts from
West to East. According to McKinsey study, it took Britain more than 100 years
to double its economic output per person during its industrial revolution and
the US later took more than 50 years to do the same. More than a century later,
China and India have doubled their GDP per capital in 12 and 18 years
respectively. By 2020, emerging Asia will become the world’s largest consuming
block, overtaking North America.
The years after the
outbreak of the global financial crisis, the world economy continues to remain
fragile. The Indian economy demonstrated remarkable resilience in the initial
years of the contagion but finally lost ground last year. GDP growth slowed
down. Currency has been weakening. There is a marked deceleration in
agriculture, industry and services. Dampening sentiment led to a cut-back in
investment as well as private consumption expenditure. Inflation remained
at high levels fuelled by the pressure from the food and fuel sectors. The
large fiscal and current account deficit s continued to cause grave concern. It
is imperative that India regains its growth trajectory of 8-9 % sooner than
later. This is crucially important given the need to create gainful livelihood
opportunities for the millions living in poverty as also the large contingent
of young people joining the job market every year.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
BB+ (Long Term Bank Facilities) |
|
Rating Explanation |
Inadequate credit quality and high credit risk. |
|
Date |
04.03.2013 |
|
Rating Agency Name |
CARE |
|
Rating |
A4+ (Short Term Bank Facilities) |
|
Rating Explanation |
Minimal degree of safety and very high credit risk. |
|
Date |
04.03.2013 |
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
Management non co-operative
LOCATIONS
|
Registered Office : |
102, Shivam Apartment, Sant Janbai Marg, Opposite Greater Bank, Vile
Parle (East), Mumbai-400057, Maharashtra |
|
Tel. No.: |
91-22-26102231 / 26133377 |
|
Fax No.: |
91-22-26101973 |
|
E-Mail : |
|
|
Website : |
DIRECTORS
AS ON 29.09.2012
|
Name : |
Mr. Nitin Jethalal Shah |
|
Designation : |
Director |
|
Address : |
Prabha Niketan, Chandravarkar Road, Matunga (C. Rly), Mumbai – 400019,
Maharashtra, India |
|
Date of Birth/Age : |
21.11.1976 |
|
Date of Appointment : |
10.08.2005 |
|
DIN No.: |
00242839 |
|
|
|
|
Name : |
Mr. Bhadresh Jagshi Shah |
|
Designation : |
Director |
|
Address : |
13, Bileshwar Darshan, Dixit Road Vile Parle (East), Mumbai – 400057,
Maharashtra, India |
|
Date of Birth/Age : |
21.06.1976 |
|
Date of Appointment : |
10.08.2005 |
|
DIN No.: |
00242737 |
|
|
|
|
Name : |
Mr. Jayant Kanji Gada |
|
Designation : |
Director |
|
Address : |
12, Om Jagannath Apartment, SVP Road, Opposite Ram Mandir, Borivali
(West), Mumbai – 400103, Maharashtra, India |
|
Date of Birth/Age : |
16.06.1974 |
|
Date of Appointment : |
10.08.2005 |
|
DIN No.: |
00242881 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 29.09.2012
|
Names of Shareholders |
No. of Shares |
|
Bhadresh Jagshi Shah |
3500 |
|
Nitin Jethalal Shah |
50000 |
|
Jayant Kanji Gada |
50000 |
|
Bhadresh Jagshi Shah |
27000 |
|
Vandana Bhadresh Shah |
1000 |
|
Jagshi Samat Shah |
2500 |
|
Bhagyawati Jagshi Shah |
1500 |
|
Urvi Jagshi Shah |
1000 |
|
Janvi Bhadresh Shah |
1000 |
|
Chapsi Samat Gala |
25000 |
|
Chandan Chapsi Gala |
4500 |
|
Sachin Chapsi Gala |
5000 |
|
Nehal Sachin Gala |
1000 |
|
Heenal Chapsi Gala |
1000 |
|
Jinesh Chapsi gala |
1000 |
|
Suresh Samat Shah |
25500 |
|
Pushpa Suresh Shah |
10000 |
|
Miloni Suresh Shah |
1000 |
|
Mansi Suresh Shah |
1000 |
|
Mahendra Samat Gala |
25000 |
|
Geeta Mahendra Gala |
10000 |
|
Dainik Mahendra Gala |
1500 |
|
Dharin Mahendra Gala |
1000 |
|
Mahabal Trading Private Limited, India |
3840000 |
|
Akshar Décor Private Limited, India |
2560000 |
|
TOTAL
|
6650000 |
AS ON 29.09.2012
|
Equity Shares
Break Up |
Percentage of
Holding |
|
Bodies corporate |
96.24 |
|
Directors or relatives of Directors |
3.76 |
|
TOTAL |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Laminates and Wood Based Products. |
GENERAL INFORMATION
|
No. of Employees : |
Information denied by the management |
|||||||||||||||||||||
|
|
|
|||||||||||||||||||||
|
Bankers : |
·
Punjab National Bank, Foreshore Road Branch, Raheja Chambers,
Nariman Point, Mumbai – 400021, Maharashtra, India |
|||||||||||||||||||||
|
|
|
|||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
B. P. Parikh and Associates Chartered Accountant |
|
Address : |
A-60/1220, Azad Nagar, Veera Desai Road. Andheri West, Mumbai –
400053, Maharashtra, India |
|
PAN No.: |
AAEPP2605A |
CAPITAL STRUCTURE
AS ON 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
7500000 |
Equity Shares |
Rs.10/- each |
Rs. 75.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
6650000 |
Equity Shares |
Rs.10/- each |
Rs. 66.500
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2012 |
31.03.2011 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
66.500 |
66.500 |
|
(b) Reserves & Surplus |
|
17.971 |
15.222 |
|
(c) Money
received against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
|
75.400 |
93.044 |
|
Total
Shareholders’ Funds (1) + (2) |
|
159.871 |
174.766 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
39.261 |
58.757 |
|
(b) Deferred tax liabilities (Net) |
|
2.082 |
2.157 |
|
(c) Other long term
liabilities |
|
0.000 |
0.000 |
|
(d) long-term
provisions |
|
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
|
41.343 |
60.914 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
|
73.984 |
73.678 |
|
(b) Trade
payables |
|
57.711 |
84.155 |
|
(c) Other
current liabilities |
|
0.000 |
0.000 |
|
(d) Short-term
provisions |
|
3.307 |
6.750 |
|
Total Current
Liabilities (4) |
|
135.002 |
164.583 |
|
|
|
|
|
|
TOTAL |
|
336.216 |
400.263 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
|
102.000 |
111.465 |
|
(ii)
Intangible Assets |
|
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
1.535 |
1.375 |
|
(e) Other
Non-current assets |
|
0.000 |
0.000 |
|
Total Non-Current
Assets |
|
103.535 |
112.840 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
|
0.000 |
0.000 |
|
(b)
Inventories |
|
147.359 |
170.873 |
|
(c) Trade
receivables |
|
75.705 |
99.990 |
|
(d) Cash
and cash equivalents |
|
6.403 |
7.245 |
|
(e)
Short-term loans and advances |
|
3.214 |
9.198 |
|
(f) Other
current assets |
|
0.000 |
0.117 |
|
Total
Current Assets |
|
232.681 |
287.423 |
|
|
|
|
|
|
TOTAL |
|
336.216 |
400.263 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
66.500 |
|
|
2] Share Application Money |
|
|
108.344 |
|
|
3] Reserves & Surplus |
|
|
9.686 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
184.530 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
144.914 |
|
|
2] Unsecured Loans |
|
|
0.000 |
|
|
TOTAL BORROWING |
|
|
144.914 |
|
|
DEFERRED TAX LIABILITIES |
|
|
2.181 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
331.625 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
119.889 |
|
|
Capital work-in-progress |
|
|
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.000 |
|
|
DEFERREX TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
193.920
|
|
|
Sundry Debtors |
|
|
119.516
|
|
|
Cash & Bank Balances |
|
|
0.680
|
|
|
Other Current Assets |
|
|
0.000
|
|
|
Loans & Advances |
|
|
32.361
|
|
Total
Current Assets |
|
|
346.477 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
130.651
|
|
|
Other Current Liabilities |
|
|
0.000
|
|
|
Provisions |
|
|
4.323
|
|
Total
Current Liabilities |
|
|
134.974 |
|
|
Net Current Assets |
|
|
211.503
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.233 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
331.625 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
NA |
NA |
525.718 |
|
|
|
Other Income |
NA |
NA |
NA |
|
|
|
TOTAL
|
NA |
NA |
NA |
|
|
|
|
|
|
|
|
Less |
|
|
|
|
|
|
|
|
Cost of Material Consumed |
NA |
NA |
701.291 |
|
|
|
Purchase of Stock In Trade |
|
|
|
|
|
|
Employee benefits expenses |
|
|
|
|
|
|
TOTAL |
NA |
NA |
701.291 |
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
18.260 |
NA |
22.663 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
14.315 |
NA |
16.781 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX |
3.945 |
NA |
5.882 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
1.200 |
NA |
1.827 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX |
2.745 |
5.536 |
4.055 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
NA |
9.686 |
5.631 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
NA |
15.222 |
9.686 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
0.41 |
0.83 |
0.61 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
Net Profit Margin (PBT/Sales) |
(%) |
NA
|
NA |
1.12 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.17
|
NA |
1.26 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.02
|
NA |
0.03 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.71
|
0.76 |
0.79 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.72
|
1.75 |
2.57 |
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 |
No |
|
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 |
CURRENT MATURITIES
OF LONG TERM DEBT
(Rs.
In Millions)
|
Particulars |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
Current Maturities Of Long Term Debt |
NA |
NA |
NA |
|
|
|
|
|
|
TOTAL |
NA |
NA |
NA |
VIEW INDEX OF
CHARGES
|
S. No |
Charge ID |
Date of Charge Creation /Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN |
|
1 |
10070992 |
30/08/2010 * |
275,000,000.00 |
PUNJAB NATIONAL BANK |
FORESHORE ROAD BRANCH, RAHEJA CHEMBERS,
NARIMAN |
A96325709 |
|
2 |
10048666 |
20/04/2007 |
115,000,000.00 |
PUNJAB NATIONAL BANK |
FORESHORE ROAD BRANCH, RAHEJA CHEMBERS,
NARIMAN |
A14424154 |
|
3 |
10048664 |
31/08/2010 * |
275,000,000.00 |
PUNJAB NATIONAL BANK |
FORESHORE ROAD BRANCH, RAHEJA CHEMBERS,
NARIMAN |
A96324017 |
|
* Date of charge modification |
||||||
OPERATIONS
The working
results of the Company for the year show a net profit of Rs. 2.745 Millions after
providing for depreciation of Rs. 14.315 Millions and provision for taxation of
Rs.1.200 Millions.
FIXED ASSETS
· Land
· Borewell
· Building and Shed
· Plant and Machinery
· Motor Vehicles
· Motor Cycle
· Bycycle
· Computer and Printers
· Lab Equipment
· Fitting and Fixture
· Furniture Office Equipment
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. 61.40 |
|
UK Pound |
1 |
Rs. 99.28 |
|
Euro |
1 |
Rs. 83.67 |
INFORMATION DETAILS
|
Information Gathered
by : |
NYA |
|
|
|
|
Report Prepared
by : |
DPT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
3 |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
29 |
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.