|
Report Date : |
28.10.2013 |
IDENTIFICATION DETAILS
|
Name : |
SUNTORY NARANG PRIVATE LIMITED (w.e.f.09.07.2012) |
|
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|
Formerly Known
As : |
NARANG CONNECT PRIVATE LIMITED (w.e.f. 22.01.2008) NARANG LOGISTICS PRIVATE LIMITED |
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Registered
Office : |
Hall No. 3, Sarkar Heritage, Kane and B.J. Road, Bandstand, Bandra (West) Mumbai – 400050, Maharashtra |
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Country : |
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Financials (as
on) : |
31.12.2012 |
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Date of
Incorporation : |
17.08.2007 |
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Com. Reg. No.: |
11-173200 |
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Capital
Investment / Paid-up Capital : |
Rs. 0.192 Million |
|
|
|
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CIN No.: [Company Identification
No.] |
U63010MH2007PTC173200 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMS74911E |
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|
|
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PAN No.: [Permanent Account No.] |
AACCN5921E |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Importing and Trading of Tea, Coffee, Chocolates, sale of coffee machines and also carrying on business of giving coffee machines on hire. |
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No. of Employees
: |
Information declined by management |
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 590000 |
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|
Status : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate track record. Even though sales of the company has increased, it has incurred loss from
its operation. External borrowing of the company has increased. However, trade relation are fair. Business is active. Payment terms
are slow but correct. The company can be considered for business dealing with some caution. Note: Company has
decided to follow calendar year so current accounts are made for 9 months
starting from 1st April 2012 to 31st December 2012. |
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 finance ministry
has started preparations for Budget 2014/15. With general elections scheduled
to be held by May next year, there will only be an interim budget. The new
government will present the fiscal Budget.
The Supreme Court
has barred clinical trials for new drugs till a monitoring mechanism is put in
place to protect the lives of people on which the drugs are tested.
Mumbai has been
named the world’s second most honest city according to a survey on 15 cities
worldwide by Readers’ Digest magazine. Finnish capital Helsinki bagged the top
spot for the world’s most honest city while Lisbon, the capital of Portugal,
proved to be the least honest. The survey put hundreds of people to test
in four continents to find out just how honest they were by dropping wallets
and seeing how many would be returned.
3.7 % Growth of the
core sector in August, a seven month high. This takes the overall growth in
April-August this year to 2.3 % compared with 6.3 % in the corresponding period
next financial year.
$19 million
Estimated average spending by companies across the globe including India, on
social media this year, according to a global study by information technology
major Tata Consultancy Services. This will rise to $ 24 million in 2015.
Rising inflation,
fewer employment avenues and dwindling earnings are taking a toll on the
spending capacity in India. Over 72 % respondents from middle and lower middle
income families would be forced to slash their Diwali expenditure by 40 % and
on average spend nearly 25 % of their monthly salary on Diwali, according to a
survey by Assochem.
Analysts believe the
shutdown of the US government would have limited impact in sectors such as IT
or tourism that are dependent on Visa clearances.
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. Rajat Roy |
|
Designation : |
CFO |
|
Contact No.: |
91-9819188045 |
|
Date : |
25.10.2013 |
LOCATIONS
|
Registered Office : |
Hall No. 3, Sarkar Heritage, Kane and B.J. Road,
Bandstand, Bandra (West) Mumbai – 400050, Maharashtra, India |
|
Tel. No. : |
91-22-40151584 / 61330508 |
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Mobile No. : |
91-9819188045 (Mr. Rajat Roy) |
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Fax No. : |
91-22-61330521 |
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E-Mail : |
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|
Website : |
DIRECTORS
As on 24.09.2012
|
Name : |
Mr. Rahul Rama Narang |
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Designation : |
Director |
|
Address : |
Narag House 40, Pali Hill, Zigzag Road, Bandra (West), Mumbai – 400050, Maharashtra, India |
|
Date of Birth/Age : |
10.04.1974 |
|
Date of Appointment : |
17.08.2007 |
|
DIN No. : |
00029995 |
|
|
|
|
Name : |
Mr. Vincent Robert |
|
Designation : |
Director |
|
Address : |
09, Bis Avenues Du Clos, Toutain, Vaucresson, 92420, France |
|
Date of Birth/Age : |
20.09.1958 |
|
Date of Appointment : |
14.06.2012 |
|
DIN No. : |
03187008 |
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|
|
|
Name : |
Yuji Yamazaki |
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Designation : |
Director |
|
Address : |
The Kosugi Tower, 1409, Nakamaruko 13-17, Nakahara-Ku, Kawasaki Kanagawa, 211-0012, Japan |
|
Date of Birth/Age : |
17.07.1957 |
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Date of Appointment : |
14.06.2012 |
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DIN No. : |
05292427 |
|
|
|
|
Name : |
Hong Sik Park |
|
Designation : |
Director |
|
Address : |
8-14-14, Seijo, Setagaya – Ku, Tokyo, 157-0066, Japan |
|
Date of Birth/Age : |
16.06.1958 |
|
Date of Appointment : |
14.06.2012 |
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DIN No. : |
05292421 |
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|
|
|
Name : |
Kenji Ichikawa |
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Designation : |
Director |
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Address : |
3-8-13, Kasama, Sakae-Ku, Yakohama City, Kanagawa, 2470006, Japan |
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Date of Birth/Age : |
23.03.1957 |
|
Date of Appointment : |
14.06.2012 |
|
DIN No. : |
05289881 |
KEY EXECUTIVES
|
Name : |
Mr. Rajat Roy |
|
Designation : |
CFO |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 24.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
Rahul Rama Narang |
|
9999 |
|
Narang Buzz Services Private Limited, India |
|
1 |
|
Total |
|
10000 |
As on 24.09.2012
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
Bodies corporate |
0.01 |
|
Directors or relatives of Directors |
99.99 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Importing and Trading of Tea, Coffee, Chocolates, sale of coffee machines and also carrying on business of giving coffee machines on hire. |
GENERAL INFORMATION
|
No. of Employees : |
Information declined by management |
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Bankers : |
Yes Bank Limited, 9th Floor, Nehru Centre, Discovery Of India, Dr. Annie Besant Road, Worli,, Mumbai - 400018, Maharashtra, India |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
Fafadia and Fafadiya Chartered Accountants |
|
Address : |
412 Navjivan Bldg. No.3, Lamington Road, Navjivan Commercial Premises Co-Op Society, Mumbai – 400008, Maharashtra, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AAAFF4099G |
CAPITAL STRUCTURE
As on 31.12.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
100000 |
Equity Shares |
Rs.10/- each |
Rs. 1.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
19231 |
Equity Shares |
Rs.10/- each |
Rs. 0.192 Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.12.2012 (9 Months) |
31.03.2012 |
31.03.2011 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
0.192 |
0.100 |
0.100 |
|
(b) Reserves & Surplus |
146.568 |
(31.206) |
3.250 |
|
(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) |
146.760 |
(31.106) |
3.350 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
4.679 |
9.069 |
14.506 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.481 |
|
(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) |
4.679 |
9.069 |
14.987 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
73.428 |
5.438 |
4.995 |
|
(b) Trade
payables |
50.553 |
25.554 |
22.092 |
|
(c) Other
current liabilities |
5.349 |
262.308 |
245.526 |
|
(d) Short-term
provisions |
0.000 |
0.000 |
0.476 |
|
Total Current
Liabilities (4) |
129.330 |
293.300 |
273.089 |
|
|
|
|
|
|
TOTAL |
280.769 |
271.263 |
291.426 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
65.841 |
71.634 |
57.054 |
|
(ii)
Intangible Assets |
26.769 |
27.183 |
2.175 |
|
(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) |
34.890 |
0.280 |
0.000 |
|
(d) Long-term Loan and Advances |
4.902 |
3.884 |
2.971 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
132.402 |
102.981 |
62.200 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
59.701 |
62.737 |
92.738 |
|
(c) Trade
receivables |
66.294 |
31.595 |
35.986 |
|
(d) Cash
and cash equivalents |
6.695 |
26.778 |
72.053 |
|
(e)
Short-term loans and advances |
10.520 |
19.199 |
26.647 |
|
(f) Other
current assets |
5.157 |
27.973 |
1.802 |
|
Total
Current Assets |
148.367 |
168.282 |
229.226 |
|
|
|
|
|
|
TOTAL |
280.769 |
271.263 |
291.426 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.12.2012 (9 Months) |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
266.229 |
234.316 |
145.902 |
|
|
|
Other Income |
4.665 |
15.436 |
7.821 |
|
|
|
TOTAL (A) |
270.894 |
249.752 |
153.723 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
197.676 |
140.651 |
77.046 |
|
|
|
Employee benefits expense |
39.686 |
31.424 |
23.906 |
|
|
|
Other Expenses |
127.651 |
77.710 |
27.182 |
|
|
|
TOTAL (B) |
365.013 |
249.785 |
128.134 |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (A-B) (C) |
(94.119) |
(0.033) |
25.589 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
6.348 |
20.862 |
13.954 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
(100.467) |
(20.895) |
11.635 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
11.118 |
14.226 |
6.274 |
|
|
|
|
|
|
|
|
|
|
Extraordinary
Items |
34.610 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F)
(G) |
(80.664) |
(35.121) |
5.361 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
0.000 |
(0.665) |
1.981 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-H) (I) |
(80.664) |
(34.456) |
3.380 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
(4201.25) |
(3445.60) |
338.00 |
|
KEY RATIOS
|
PARTICULARS |
|
31.12.2012 (9 Months) |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
(29.78)
|
(13.80) |
2.20 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
(30.30)
|
(14.99) |
3.67 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(32.81)
|
(12.96) |
1.84 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.55)
|
1.13 |
1.60 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.53
|
(0.47) |
5.82 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.15
|
0.57 |
0.84 |
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 |
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 |
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 |
No |
DETAIL OF CURRENT
MATURITIES OF LONG TERM DEBTS : NOT AVAILABLE
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
10384035 |
04/10/2012 |
100,000,000.00 |
YES BANK LIMITED |
9TH FLOOR, NEHRU
CENTRE, DISCOVERY OF INDIA, DR. |
B61129169 |
NOTE
The registered office of the company has been shifted from 462, Phoenix, C Wing, Senapati Bapat Marg, Lower Parel, Mumbai – 400013, Maharashtra, India to the present address w.e.f. 15.01.2008.
LOSS DUE TO
OPERATIONS
For the period under consideration, the company had huge expiry of the products in case of chocolates (Lindt) and loss due to launch of Orangina product the benefits of which will accure during the ensuring period.
FIXED ASSETS
v
Tangible
Assets
· Plant and Machinery
· Office Equipment
· Furniture and Fixtures
· Computers
· Vehicles
v
Intangible
Assets
· Software
· Goodwill
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.61.63 |
|
|
1 |
Rs.99.94 |
|
Euro |
1 |
Rs.85.14 |
INFORMATION DETAILS
|
Information
Gathered by : |
PDT |
|
|
|
|
Report Prepared
by : |
MRI |
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 |
4 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--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 |
|
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.