MIRA INFORM REPORT
|
Report Date : |
20.09.2013 |
IDENTIFICATION DETAILS
|
Name : |
FARIDA LEATHERWARE PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
151/4, Mount Poonamallee High Road, Ramapuram, Chennai – 600089, Tamil
Nadu |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
31.03.1992 |
|
|
|
|
Com. Reg. No.: |
18-022111 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 1.220 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U18209TN1992PTC022111 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
CHEF00232B |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer and Exporter of a market high quality men and
women footwear and finished leather. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 70000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having a satisfactory track record. Profit margin of the company appears to be low. Low margin of safety
due to decline in sales. However, 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 – 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
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.
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 : |
151/4, Mount Poonamallee High Road, Ramapuram, Chennai – 600089, Tamil
Nadu, India |
|
Tel. No.: |
91-44-22521515 |
|
Fax No.: |
91-44-26411363 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Factory: |
34/2 Pernambut Road, Vellore District, Chinnavarikkam - 635811,
Tamilnadu India |
|
Tel. No.: |
91-4174-248253/324366 |
|
Fax No.: |
91-4174-249242 |
|
E-Mail : |
DIRECTORS
As on 27.09.2012
|
Name : |
Mr. Iqbal Ahmed Mecca |
|
Designation : |
Director |
|
Address : |
10, Kothari Road, Nungambakkam, Chennai – 600034, Tamilnadu, India |
|
Date of Birth/Age : |
10.10.1969 |
|
Date of Appointment : |
31.01.1992 |
|
DIN No.: |
00013788 |
|
|
|
|
Name : |
Rasheed Ahmed Mecca |
|
Designation : |
Director |
|
Address : |
No. 936, Periyare. V. R. High Road, Flowers Road, Chennai - 600084,
Tamilnadu, India |
|
Date of Birth/Age : |
01.01.1949 |
|
Date of Appointment : |
31.01.1992 |
|
DIN No.: |
00013760 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 27.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
Iqbal Ahmed Mecca |
|
1 |
|
Farida Holdings Private Limited, India |
|
12199 |
|
Total |
|
12200 |
Equity Share Break up (Percentage of Total Equity)
As on 27.09.2012
|
Category |
Percentage |
|
Bodies corporate |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of a market high quality men and
women footwear and finished leather. |
PRODUCTION STATUS AS ON (31.03.2010)
|
Particulars |
Unit |
Qty. |
|
Licensed Capacity |
Pairs |
900000 |
|
Installed Capacity |
Pairs |
900000 |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
|||||||||||||||
|
|
|
|||||||||||||||
|
Bankers : |
State Bank of India, Leather International Branch, MVJ Towers 177/1,
Kilpauk, Chennai – 600010, Tamil Nadu, India |
|||||||||||||||
|
|
|
|||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
|
|
|
|
|
Auditors : |
|
|
Name : |
Akbar RIFA and Company Chartered Accountants |
|
Address : |
C8, Orchid Manor Apts., Diwan Rma Road, Purasawalkam, Chennai –
600084, Tamilnadu, India |
|
Income-tax
PAN of auditor or auditor’s firm : |
AAUFA5645D |
|
|
|
|
Subsidiary : |
Farida Holdings Private Limited [CIN: U65993TN1985PTC011781] |
CAPITAL STRUCTURE
As on 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
25,000 |
Equity Shares |
Rs. 100/- each |
Rs. 2.500 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
12,200 |
Equity Share |
Rs. 100/- each |
Rs. 1.220
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 |
|
1.220 |
1.220 |
|
(b) Reserves & Surplus |
|
16.387 |
14.489 |
|
(c) Money
received against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
|
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
|
17.607 |
15.709 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
29.912 |
29.912 |
|
(b) Deferred tax liabilities (Net) |
|
1.405 |
1.450 |
|
(c) Other long term
liabilities |
|
0.000 |
0.000 |
|
(d) long-term
provisions |
|
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
|
31.317 |
31.362 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
|
31.785 |
27.665 |
|
(b) Trade
payables |
|
13.445 |
10.983 |
|
(c) Other
current liabilities |
|
0.956 |
1.814 |
|
(d) Short-term
provisions |
|
3.788 |
4.657 |
|
Total Current
Liabilities (4) |
|
49.974 |
45.119 |
|
|
|
|
|
|
TOTAL |
|
98.898 |
92.190 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
|
14.461 |
14.984 |
|
(ii)
Intangible Assets |
|
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
|
0.000 |
0.000 |
|
(iv)
Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
0.145 |
0.145 |
|
(c) Deferred tax assets (net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
8.064 |
8.086 |
|
(e) Other
Non-current assets |
|
0.000 |
0.000 |
|
Total Non-Current
Assets |
|
22.670 |
23.215 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
|
0.000 |
0.000 |
|
(b)
Inventories |
|
11.142 |
31.434 |
|
(c) Trade
receivables |
|
59.973 |
30.938 |
|
(d) Cash
and cash equivalents |
|
0.620 |
0.521 |
|
(e)
Short-term loans and advances |
|
3.217 |
4.799 |
|
(f) Other
current assets |
|
1.276 |
1.283 |
|
Total
Current Assets |
|
76.228 |
68.975 |
|
|
|
|
|
|
TOTAL |
|
98.898 |
92.190 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
1.220 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
12.972 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
14.192 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
24.124 |
|
|
2] Unsecured Loans |
|
|
22.851 |
|
|
TOTAL BORROWING |
|
|
46.975 |
|
|
DEFERRED TAX LIABILITIES |
|
|
1.523 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
62.690 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
15.751 |
|
|
Capital work-in-progress |
|
|
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.145 |
|
|
DEFERREX TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
30.120 |
|
|
Sundry Debtors |
|
|
15.360 |
|
|
Cash & Bank Balances |
|
|
2.002 |
|
|
Other Current Assets |
|
|
0.758 |
|
|
Loans & Advances |
|
|
16.602 |
|
Total
Current Assets |
|
|
64.842 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
18.048 |
|
|
Other Current Liabilities |
|
|
0.000 |
|
|
Provisions |
|
|
0.000 |
|
Total
Current Liabilities |
|
|
18.048 |
|
|
Net Current Assets |
|
|
46.794 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
62.690 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
93.985 |
91.722 |
113.507 |
|
|
|
Other Income |
24.273 |
33.672 |
16.993 |
|
|
|
TOTAL (A) |
118.258 |
125.394 |
130.500 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost Material consumed |
75.442 |
83.183 |
|
|
|
|
Changes in inventories of finished goods, work-in-progress |
(0.451) |
3.794 |
|
|
|
|
Employee Benefit Expense |
12.103 |
10.599 |
|
|
|
|
Direct |
10.312 |
6.985 |
|
|
|
|
Other Expenses |
12.652 |
14.095 |
|
|
|
|
TOTAL (B) |
110.058 |
118.656 |
124.435 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
8.200 |
6.738 |
6.065 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
3.373 |
2.362 |
2.789 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
4.827 |
4.376 |
3.276 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
2.068 |
2.174 |
2.289 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
2.759 |
2.202 |
0.987 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
0.861 |
0.685 |
0.485 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
1.898 |
1.517 |
0.502 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
14.390 |
12.873 |
21.056 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Dividend Paid |
NA |
0.000 |
7.500 |
|
|
|
Dividend Tax Paid |
NA |
0.000 |
1.275 |
|
|
BALANCE CARRIED
TO THE B/S |
NA |
14.390 |
12.873 |
|
|
|
|
|
|
|
|
|
|
CIF VALUE OF
IMPORTS |
NA |
0.000 |
30.181 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
15.56 |
12.43 |
56.58 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
1.60
|
1.21 |
0.38 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
2.94
|
2.40 |
0.87 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.79
|
2.39 |
1.22 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.16
|
0.14 |
0.07 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
3.50
|
3.67 |
3.31 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.53
|
1.53 |
3.59 |
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 |
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 |
Note: Registered office of the company has been
shifted from NO.168/936, Periyar EVR High Rdchennai – 600084, Tamilnadu, India to the present address w.e.f 07.09.2007
PERFORMANCE
The company has made a turnover of Rs. 118.258 Millions (including other
income) when compare in the previous year turnover of Rs. 125.394 Millions. The
total expenditure is to Rs. 115.499 Millions. When compare to the previous year
expenditure of Rs. 123.192 Millions. During the current year the company has
made profit before taxation of Rs. 2.759 Millions.
UNSECURED LOAN
|
PARTICULARS |
31.03.2012 (Rs.
in Millions) |
31.03.2011 (Rs.
in Millions) |
|
Long-term
Borrowings |
|
|
|
From Directors and Shareholders |
0.954 |
0.954 |
|
Farida Shoes Private Limited |
28.958 |
28.958 |
|
Total |
29.912 |
29.912 |
INDEX
OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT SECURED
|
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
10056400 |
24/07/2006 |
626,500,000.00 |
STATE BANK OF INDIA |
LEATHER
INTERNATIONAL BRANCH, MVJ TOWERS 177/1, KILPAUK, CHENNAI, TAMIL NADU -
600010, INDIA |
A03245008 |
|
2 |
90284057 |
05/05/2005 * |
30,000,000.00 |
STATE BANK OF INDIA |
LEATHER
INTERNATIONAL BRANCH, POONAMALLCE HIGH ROAD, CHENNAI, TAMIL NADU - 600007,
INDIA |
- |
|
3 |
90283468 |
06/11/1992 |
9,500,000.00 |
STATE BANK OF INDIA |
OVERSEAS BRANCH,
39 ; RAJAJI SALAI, MADRAS, TAMILNADU - 600001, INDIA |
- |
Note: * Date of
charge modification
FIXED ASSETS:
v Land
v Factory Building
v Plant and Machinery
v Electrical Fitting
v Vehicle
v Office Equipments
v Furniture and Fittings
v Computer
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.61.75 |
|
|
1 |
Rs.99.56 |
|
Euro |
1 |
Rs.83.55 |
INFORMATION DETAILS
|
Report Prepared
by : |
KVT |
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 |
5 |
|
--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 |
|
45 |
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.