MIRA INFORM REPORT
|
Report Date : |
26.09.2013 |
IDENTIFICATION DETAILS
|
Name : |
DAMANI SHIPPING PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
205-206, Varma Chambers, 11, Homji
Street, Fort, Mumbai – 400 001, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
28.12.1982 |
|
|
|
|
Com. Reg. No.: |
11-028986 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs.0.150
million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U63012MH1982PTC028986 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Custom House Agents |
|
|
|
|
No. of Employees
: |
1000 (Approximately) |
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 1047000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a well
established company having a satisfactory track record. There appears dip
in sales and profit of the company during financial year 2012. However, trade
relations are fair. Business is active. Payment terms are reported to be slow
but correct. The company can
be considered 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.
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.
INFORMATION PARTED BY (GENERAL DETAILS)
|
Name : |
Mr. Ganesh |
|
Designation : |
Accounts Department |
|
Contact No.: |
91-22-40606666 |
|
Date : |
24.09.2013 |
LOCATIONS
|
Registered Office/ Head Office : |
205-206, Varma Chambers, 11,
Homji Street, Fort, Mumbai – 400 001, Maharashtra, India |
|
Tel. No.: |
91-22-40606666 (Board Line)/ 22660253 |
|
Fax No.: |
91-22-22663671/ 22655930/ 22622331 |
|
E-Mail : |
For Projects Enquiry: projects@damanishipping.com For Chartering Enquiry: chrt@damanishipping.com For Import and Export Clearing: cha@damanishipping.com For Shipping and Port Agency: agency@damanishipping.com For SOC Containers: contrs@damanishipping.com |
|
Website : |
|
|
Location : |
Owned |
|
|
|
|
Import Department : |
103, Rangoli Complex, Opposite Sahar Air Cargo Complex, Sahar, Andheri (East), Mumbai – 400 099, Maharashtra, India |
|
Tel. No.: |
91-22-42257709 |
|
Fax No.: |
91-22-26817067 |
|
E-Mail : |
|
|
|
|
|
Export Department : |
Mary Villa, Ground Floor, Near Sahar Cargo Complex, Behind Roy Apartments, Sahar Road, Andheri (East), Mumbai – 400 099, Maharashtra, India |
|
Tel. No.: |
91-22-26817311 |
|
Fax No.: |
91-22-26817126 |
|
E-Mail : |
|
|
|
|
|
Godown : |
Dapoda Village, Anjur Phata Road, Near Gajanan Petrol Pump, Bhiwandi,
Thane, Maharashtra, India |
|
|
|
|
Branch Office : |
Located at: ·
Carnac Bunder ·
Kandla and Mundra ·
Nhava Sheva ·
Pune ·
Ahmadabad ·
Vadodara ·
Nagpur ·
Indore ·
Kolkata ·
Hyderabad ·
Chennai ·
Vizag (Visakhapatnam) ·
Delhi |
DIRECTORS
AS ON 25.09.2012
|
Name : |
Mr. Ashwin Chhotalal Damani |
|
Designation : |
Director |
|
Address : |
Mitra Kunj Building, Flat No.2, 4th Floor, 16, Peddar Road,
Mumbai – 400 026, Maharashtra, India |
|
Date of Birth/Age : |
04.11.1949 |
|
Date of Appointment : |
28.12.1982 |
|
DIN No.: |
00308135 |
|
|
|
|
Name : |
Mr. Minesh Himatlal Damani |
|
Designation : |
Director |
|
Address : |
Flat No. B/1302, 13th Floor, Beau Monde, Appa Saheb Marathe
Marg, Prabhadevi, Mumbai – 400 025, Maharashtra, India |
|
Date of Birth/Age : |
08.05.1965 |
|
Date of Appointment : |
29.12.1994 |
|
DIN No.: |
00307617 |
|
|
|
|
Name : |
Mr. Mahesh Himatlal Damani |
|
Designation : |
Director |
|
Address : |
A-2101, Beau Monde, Appa Saheb Marathe Marg, Prabhadevi, Mumbai – 400
025, Maharashtra, India |
|
Date of Birth/Age : |
05.12.1966 |
|
Date of Appointment : |
29.12.1994 |
|
DIN No.: |
00307978 |
|
|
|
|
Name : |
Mr. Atul Dhirubhai Damani |
|
Designation : |
Director |
|
Address : |
Suraj Apartment, 27th Floor, Near Breach Candy Hospital,
Opposite American Embassy, Warden Road, Mumbai – 400 026, Maharashtra, India |
|
Date of Birth/Age : |
11.05.1964 |
|
Date of Appointment : |
28.12.1982 |
|
DIN No.: |
00308054 |
|
|
|
|
Name : |
Mr. Kartik Ashwin Damani |
|
Designation : |
Director |
|
Address : |
Mitra Kunj Building, Flat No.2, 4th Floor, 16, Peddar Road,
Mumbai – 400 026, Maharashtra, India |
|
Date of Birth/Age : |
26.02.1988 |
|
Date of Appointment : |
25.09.2012 |
|
DIN No.: |
05227851 |
KEY EXECUTIVES
|
Name : |
Mr. Ganesh |
|
Designation : |
Accounts Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 25.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
D.C. Damani |
|
100 |
|
H.C. Damani |
|
100 |
|
A.C. Damani |
|
100 |
|
A.D. Damani |
|
100 |
|
Minesh Himatlal Damani |
|
100 |
|
Mahesh Himatlal Damani |
|
100 |
|
R.D. Damani |
|
100 |
|
N.H. Damani |
|
100 |
|
M.A. Damani |
|
100 |
|
Ami A. Damani |
|
100 |
|
Deepali M. Damani |
|
100 |
|
Dipti P. Parekh |
|
100 |
|
Nipa Maniar |
|
100 |
|
Mitsu A. Damani |
|
100 |
|
Savitaben Damani |
|
100 |
|
Total
|
|
1500 |
AS ON 25.09.2012
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Directors
or relatives of directors |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Custom House Agents |
|
|
|
|
Terms : |
|
|
Selling : |
Credit |
|
|
|
|
Purchasing : |
Credit |
GENERAL INFORMATION
|
Customers : |
End Users |
|
|
|
|
No. of Employees : |
1000 (Approximately) |
|
|
|
|
Bankers : |
Standard Chartered Bank, Mumbai, Maharashtra, India |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
H.P. Bhalekar and Associates Chartered Accountants |
|
Address : |
Ashok Kutir, 23-A, Doongarsi Road, Malabar Hill, Mumbai – 400 006,
Maharashtra, India |
|
Tel. No.: |
91-22-23618942 |
|
Mobile No.: |
91-9821025707 |
|
E-Mail : |
|
|
PAN No.: |
AABPB1150F |
CAPITAL STRUCTURE
AS ON 25.09.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
5000 |
Equity Shares |
Rs.100/- each |
Rs.0.500 million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
1500 |
Equity Shares |
Rs.100/-
each |
Rs.0.150
million |
|
|
|
|
|
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 |
|
0.150 |
0.150 |
|
(b) Reserves & Surplus |
|
261.648 |
237.044 |
|
(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) |
|
261.798 |
237.194 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
|
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
|
0.750 |
14.161 |
|
(c)
Other long term liabilities |
|
0.000 |
0.000 |
|
(d)
Long-term provisions |
|
0.000 |
0.000 |
|
Total
Non-current Liabilities (3) |
|
0.750 |
14.161 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
|
364.241 |
279.890 |
|
(b)
Trade payables |
|
535.737 |
505.320 |
|
(c)
Other current liabilities |
|
98.285 |
113.066 |
|
(d)
Short-term provisions |
|
10.012 |
17.150 |
|
Total
Current Liabilities (4) |
|
1008.275 |
915.426 |
|
|
|
|
|
|
TOTAL |
|
1270.823 |
1166.781 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i)
Tangible assets |
|
87.524 |
68.685 |
|
(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 |
|
378.448 |
341.807 |
|
(c) Deferred tax assets
(net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan
and Advances |
|
58.388 |
56.328 |
|
(e)
Other Non-current assets |
|
0.000 |
0.000 |
|
Total
Non-Current Assets |
|
524.360 |
466.820 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
|
0.000 |
0.000 |
|
(b)
Inventories |
|
0.000 |
0.000 |
|
(c)
Trade receivables |
|
534.452 |
523.613 |
|
(d)
Cash and cash equivalents |
|
137.382 |
91.132 |
|
(e)
Short-term loans and advances |
|
74.629 |
85.199 |
|
(f)
Other current assets |
|
0.000 |
0.017 |
|
Total
Current Assets |
|
746.463 |
699.961 |
|
|
|
|
|
|
TOTAL |
|
1270.823 |
1166.781 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
0.150 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
220.221 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
220.371 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
0.000 |
|
|
2] Unsecured Loans |
|
|
0.000 |
|
|
TOTAL BORROWING |
|
|
0.000 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
220.371 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
62.278 |
|
|
Capital work-in-progress |
|
|
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
13.173 |
|
|
DEFERRED TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
0.000 |
|
|
Sundry Debtors |
|
|
300.283 |
|
|
Cash & Bank Balances |
|
|
106.784 |
|
|
Other Current Assets |
|
|
0.000 |
|
|
Loans & Advances |
|
|
372.026 |
|
Total
Current Assets |
|
|
779.093 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
206.746 |
|
|
Other Current Liabilities |
|
|
385.906 |
|
|
Provisions |
|
|
41.555 |
|
Total
Current Liabilities |
|
|
634.207 |
|
|
Net Current Assets |
|
|
144.886 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.034 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
220.371 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
328.331 |
367.636 |
338.387 |
|
|
|
Other Income |
NA |
NA |
NA |
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
NA |
NA |
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
32.931 |
52.690 |
66.327 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
9.237 |
8.867 |
8.012 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX |
23.694 |
43.823 |
58.316 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
12.500 |
17.150 |
19.525 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX |
11.194 |
26.673 |
38.791 |
|
|
|
|
|
|
|
|
|
Add |
Tax Adjustment |
13.410 |
(9.850) |
(4.198) |
|
|
|
|
|
|
|
|
|
|
ADJUSTED NET
PROFIT |
24.604 |
16.823 |
34.593 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
228.839 |
212.016 |
174.028 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
-- |
-- |
(3.395) |
|
|
BALANCE CARRIED
TO THE B/S |
253.443 |
228.839 |
212.016 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
7462.67 |
11215.33 |
NA |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.65
|
5.31 |
6.93 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.09
|
0.18 |
0.26 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
1.39
|
1.18 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.74
|
0.76 |
1.23 |
LOCAL AGENCY FURTHER INFORMATION
Note:
Details of Current Maturities Debt: Not Available
|
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 |
Yes |
|
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 |
Yes |
|
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 |
31.03.2012 (Rs. in Millions) |
31.03.2011 (Rs. in Millions) |
|
SHORT TERM
BORROWINGS |
|
|
|
Loans repayable on demand |
|
|
|
- From banks |
364.241 |
279.890 |
|
Total
|
364.241 |
279.890 |
Note:
No Charges Exist for the Company.
CORPORATE
INFORMATION:
Subject is closely held company engaged in business of Custom House
Agent shipping agent for Indian and Foreign lines. All work related to shipping
business as clearing and forwarding of cargo transport, fleet owners etc. The
Companies Registered office is in Mumbai and it has no subsidiaries
FIXED ASSETS:
·
Office Premises
·
Plant and Machinery
·
Vehicles
·
Furniture and Fixtures
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.62.70 |
|
|
1 |
Rs.100.27 |
|
Euro |
1 |
Rs.84.45 |
INFORMATION DETAILS
|
Information
Gathered by : |
PLK |
|
|
|
|
Report Prepared
by : |
SMN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
4 |
|
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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTERS |
|
|
|
--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.