|
Report Date : |
06.09.2013 |
IDENTIFICATION DETAILS
|
Name : |
CROSSWORD BOOKSTORES LIMITED |
|
|
|
|
Formerly Known
As : |
PROFOUND READER'S CHOICE TRADING (INDIA) LIMITED |
|
|
|
|
Registered
Office : |
Plot No. C-30, Block ‘G’, Opposite SIDBI, Bandra Kurla Complex, Bandra
(East), Mumbai – 400 051, Maharashtra |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
03.11.1999 |
|
|
|
|
Com. Reg. No.: |
11-122528 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.195.625 millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U52396MH1999PLC122528 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMC10072G |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCP7596G |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Till 30 June
2006 the subject was engaged in the business of retailing books and other items
such as music, toys, stationery and computer peripherals through departmental
and concessionaire stores, operated either by itself or by franchisees and
through E-Commerce. With effect from 1 July 2006 the Company has entered into
an agreement with SSL in terms of which the business previously operated by
itself is now operated by SSL. The said agreement is cancelled with effect
from 1 Oct 2010 and the Company’s business operated by SSL is being operated
by the Company. |
|
|
|
|
No. of Employees
: |
Information denied by management |
RATING & COMMENTS
|
MIRA’s Rating : |
B (33) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 946000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having moderate track record. There appear
continuous losses recorded by the company. However, trade relations are reported as fair. Business is active.
Payments are reported to be slow but correct. The company can be considered for business dealings with some
cautions. |
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
There is another
megatrend happening. The World order is changing as economic power shifts from
West to East. According to McKinsey study, it took
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
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 DENIED
Management Non- Co-Operative. (Tel No. 91-22-26564000)
LOCATIONS
|
Registered Office : |
Plot No.C-30, Block ‘G’, Opposite SIDBI, Bandra Kurla Complex, Bandra
(East), Mumbai – 400 051, |
|
Tel. No.: |
91-22-26564000 / 61916191 / 42498081 / 42498070 / 42498075 / 42498063 /
42498091 |
|
Fax No. |
91-22-26564909 |
|
E-Mail : |
prashant.mehta@shoppersstop.com |
|
Website : |
|
|
|
|
|
Support Office : |
Paradigm, A Wing, 1st Floor, Mindspace, |
|
Tel. No.: |
91-22-42498000 |
|
E-Mail : |
|
|
|
|
|
Stores : |
Located at: ·
Amritsar ·
Jaipur ·
Kolkata ·
Mumbai ·
Nagpur ·
Pune ·
Vadodara |
|
|
|
|
Branch Office: |
24th Road Construction House Khar, Mumbai 400052, Maharashtra, India |
DIRECTORS
As on 23.07.2012
|
Name : |
Mr. Govind Shridhar Shrikhande |
|
Designation : |
Director |
|
Address : |
Flat NO. 1801, 18th Floor, Brooks Villa, Mughllne, Matunga (West),
Mumbai – 400016, Maharahstra, India |
|
Date of Birth/Age : |
07.09.1960 |
|
Date of Appointment : |
05.03.2012 |
|
DIN No.: |
00029419 |
|
|
|
|
Name : |
Mr. |
|
Designation : |
Director |
|
Address : |
Raheja House, 53 A, Pali Hill, Bandra (West), Mumbai – 400 050, |
|
Date of Birth/Age : |
23.09.1971 |
|
Date of Appointment : |
03.11.1999 |
|
DIN No.: |
00028044 |
|
|
|
|
Name : |
Mr. Neel Chandru Raheja |
|
Designation : |
Director |
|
Address : |
Raheja House, 53 A, Pali Hill, Bandra (West), Mumbai – 400 050, |
|
Date of Birth/Age : |
27.06.1974 |
|
Date of Appointment : |
03.11.1999 |
|
DIN No.: |
00029010 |
|
|
|
|
Name : |
Mr. Yasin Ebrahim Virani |
|
Designation : |
Director |
|
Address : |
504, Gulistan E - Hind, North South Road, No.10, Juhu Scheme, Mumbai –
400 049, Maharashtra, India |
|
Date of Birth/Age : |
20.10.1956 |
|
Date of Appointment : |
28.03.2006 |
|
DIN No.: |
00291989 |
KEY EXECUTIVES
|
Name : |
Mrs. Anita Shankar Shetty |
|
Designation : |
Secretary / Manager |
|
Address : |
501, I 63 Navgrah Poonam Sagar Complex, Mira Road (East), Mumbai
401107, Maharashtra, India |
|
Date of Birth/Age : |
03.06.1985 |
|
Date of Appointment : |
01.09.2010 |
|
PAN No.: |
BPEPS4949J |
MAJOR SHAREHOLDERS
As on 23.07.2012
|
Names of Equity Shareholders |
|
No. of Shares |
|
Shopper’s Stop Limited, |
|
15 |
|
Shopper’s Stop Limited, Chandru L. Raheja and Neel C. Raheja |
|
15 |
|
Shopper’s Stop Limited, |
|
9562447 |
|
Shopper’s Stop Limited, |
|
4 |
|
Shopper’s Stop Limited, Chandru L. Raheja |
|
4 |
|
Shopper’s Stop Limited, Yasin E. Virani |
|
10 |
|
Shopper’s Stop Limited, Govind Shrikhande |
|
5 |
|
Total |
|
9562500 |
|
Names of Preference Shareholders |
|
No. of Shares |
|
Shopper’s Stop Limited, India |
|
10000000 |
|
Total |
|
10000000 |
Equity Share Break up (Percentage of Total Equity)
As on 23.07.2012
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Till 30 June
2006 the subject was engaged in the business of retailing books and other
items such as music, toys, stationery and computer peripherals through
departmental and concessionaire stores, operated either by itself or by franchisees
and through E-Commerce. With effect from 1 July 2006 the Company has entered
into an agreement with SSL in terms of which the business previously operated
by itself is now operated by SSL. The said agreement is cancelled with effect
from 1 Oct 2010 and the Company’s business operated by SSL is being operated
by the Company. |
||||
|
|
|
||||
|
Products : |
|
GENERAL INFORMATION
|
No. of Employees : |
Information denied by management |
||||||||||||
|
|
|
||||||||||||
|
Bankers : |
·
Kotak Mahindra Bank Limited, 36-38A, Nariman
Bhavan, Nariman Point, Mumbai – 400 021, Maharashtra, India ·
IDBI Bank Limited, India Red Cross Society
Building, 1 Red Cross Road, New Delhi 110001, India |
||||||||||||
|
|
|
||||||||||||
|
Facilities : |
Note: Cash credit facilities and working capital demand loans are secured by
a first charge on the current assets of the company of the company both
present and future. |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
G. M. Kapadia and Company Chartered Accountants |
|
Address : |
36 B, Tamarind House, Tamarind Lane, Fort, Mumbai – 400001, Maharashtra,
India |
|
PAN No.: |
AAAFG4713G |
|
|
|
|
Holding Company
: |
·
Shopper’s Stop Limited, India CIN
No.: L51900MH1997PLC108798 |
|
|
|
|
Fellow Subsidiaries : |
·
Hypercity Retail (India) Limited CIN
No.: U52510MH2004PLC146577 |
|
|
|
|
Enterprises which are owned, or have significant influence of or are partners with Key management personnel and their
relatives : |
·
Inorbit Malls (India) Private Limited CIN
No.: U45200MH1999PTC117748 ·
Ivory Properties and Hotels Private Limited CIN
No.: U70100MH1982PTC026374 |
CAPITAL STRUCTURE
As on 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000000 |
Equity Shares |
Rs. 10/- each |
Rs. 100.000 Millions |
|
10000000 |
Preference Shares |
Rs. 10/- each |
Rs. 100.000 Millions |
|
|
Total |
|
Rs. 200.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
9562500 |
Equity Shares |
Rs. 10/- each |
Rs. 95.625 Millions |
|
10000000 |
Preference Shares |
Rs. 10/- each |
Rs. 100.000 Millions |
|
|
Total |
|
Rs. 195.625
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 |
195.625 |
195.625 |
195.625 |
|
(b) Reserves & Surplus |
40.787 |
116.295 |
138.798 |
|
(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) |
236.412 |
311.920 |
334.423 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
0.093 |
0.000 |
13.200 |
|
(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) |
0.093 |
0.000 |
13.200 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
135.434 |
142.049 |
0.000 |
|
(b) Trade payables |
180.839 |
128.667 |
158.715 |
|
(c) Other current
liabilities |
38.972 |
38.999 |
101.352 |
|
(d) Short-term provisions |
36.128 |
30.397 |
39.420 |
|
Total Current Liabilities (4) |
391.373 |
340.112 |
299.487 |
|
|
|
|
|
|
TOTAL |
627.878 |
652.032 |
647.110 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
190.447 |
211.226 |
193.988 |
|
(ii) Intangible Assets |
56.281 |
63.787 |
72.814 |
|
(iii) Capital
work-in-progress |
0.792 |
2.130 |
13.125 |
|
(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) |
0.000 |
0.253 |
0.000 |
|
(d) Long-term Loan and Advances |
59.983 |
57.370 |
68.830 |
|
(e) Other Non-current assets |
0.113 |
17.091 |
0.993 |
|
Total Non-Current Assets |
307.616 |
351.857 |
349.750 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
206.192 |
202.208 |
219.832 |
|
(c) Trade receivables |
35.806 |
31.646 |
22.251 |
|
(d) Cash and cash
equivalents |
5.065 |
5.051 |
18.238 |
|
(e) Short-term loans and
advances |
73.199 |
61.270 |
37.039 |
|
(f) Other current assets |
0.000 |
0.000 |
0.000 |
|
Total Current Assets |
320.262 |
300.175 |
297.360 |
|
|
|
|
|
|
TOTAL |
627.878 |
652.032 |
647.110 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
906.267 |
932.063 |
445.184 |
|
|
|
Other Income |
1.652 |
5.447 |
30.117 |
|
|
|
TOTAL (A) |
907.919 |
937.510 |
475.301 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Purchase of stock in trade |
507.805 |
517.636 |
472.807 |
|
|
|
Changes in inventories of finished goods, work-in-progress and
stock-in-trade |
(3.984) |
17.624 |
(219.832) |
|
|
|
Employee benefit expense |
96.835 |
96.001 |
40.808 |
|
|
|
Other Expenses |
314.267 |
299.883 |
139.940 |
|
|
|
TOTAL (B) |
914.923 |
931.144 |
433.723 |
|
|
|
|
|
|
|
|
Less |
PROFIT/(LOSS)
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
(7.004) |
6.366 |
41.578 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
12.864 |
6.321 |
1.202 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION
(C-D) (E) |
(19.868) |
0.045 |
40.376 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
38.990 |
36.329 |
16.670 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS) BEFORE TAX (E-F) (G) |
(58.858) |
(36.284) |
23.706 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
16.650 |
(13.782) |
2.195 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS) AFTER TAX (G-H) (I) |
(75.508) |
(22.502) |
21.511 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
(15.087) |
7.145 |
0.515 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Proposed Preference Dividend |
0.000 |
0.000 |
14.611 |
|
|
BALANCE CARRIED
TO THE B/S |
(95.595) |
(15.087) |
7.415 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
(8.49) |
(3.02) |
0.72 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
(8.32)
|
(2.40) |
4.53
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
(6.49)
|
(3.89) |
5.32
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(15.47)
|
(9.69) |
6.46
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.25)
|
(0.11) |
0.07
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.57
|
0.46 |
0.00
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.82
|
0.88 |
0.99
|
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 |
No |
UNSECURED LOANS:
|
Particulars |
31.03.2013 Rs. In Millions |
31.03.2012 Rs. In Millions |
|
Short Term Borrowings |
|
|
|
Loans and
advances from others |
40.000 |
42.500 |
|
Total |
40.000 |
42.500 |
NOTE: CURRENT MATURITY
OF LONG TERM BORROWINGS DETAIL NOT AVAILABLE
INDEX OF CHARGE:
|
Sr .No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10293110
|
03/06/2011
|
95,000,000.00
|
IDBI
Bank Limited |
Indian Red Cross Society
Building, 1, Red Cross Road, New Delhi, Delhi - 110001, INDIA |
B15322795
|
GENERAL
INFORMATION:
The Company was incorporated
on 3 November 1999. The Company is a wholly owned subsidiary of Shoppers Stop
Limited (SSL).
Till 30 June 2006
the Company was engaged in the business of retailing books and other items such
as music, toys, stationery and computer peripherals through departmental and
concessionaire stores, operated either by itself or by franchisees and through
E-Commerce. With effect from 1 July 2006 the Company has entered into an
agreement with SSL in terms of which the business previously operated by itself
is now operated by SSL. The said agreement is cancelled with effect from 1 Oct
2010 and the Company’s business operated by SSL is being operated by the
Company.
The Assets and Liabilities of stores operated by SSL as on 30th
September 2010 have been taken over by the Company along with the personnel.
FIXED ASSETS:
·
Leasehold Improvements
·
Furniture, Fixtures and Other Equipment
·
Computers
·
Vehicles
·
Goodwill
·
Trademarks and Copyrights
·
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 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. 66.04 |
|
|
1 |
Rs. 103.11 |
|
Euro |
1 |
Rs. 86.99 |
INFORMATION DETAILS
|
Report Prepared
by : |
VNT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
4 |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
33 |
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.