MIRA INFORM REPORT
|
Report Date : |
04.04.2014 |
IDENTIFICATION DETAILS
|
Name : |
PREETHI KITCHEN APPLIANCES PRIVATE LIMITED |
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Registered
Office : |
Technopolis Knowledge Park, 2nd Floor, Mahakali Caves Road, Chakala, Andheri (East), Mumbai – 400093, Maharashtra |
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Country : |
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Financials (as
on) : |
31.03.2013 |
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Date of
Incorporation : |
21.02.2011 |
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Com. Reg. No.: |
11-213827 |
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Capital
Investment / Paid-up Capital : |
Rs.142.949
Millions |
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CIN No.: [Company Identification
No.] |
U36993MH2011PTC213827 |
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PAN No.: [Permanent Account No.] |
AAFCP8830K |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer and Seller of Domestic Appliances. |
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No. of Employees
: |
Information denied by management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca (12) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Moderate |
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Payment Behaviour : |
Slow and delayed |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having a moderate track record. There incurred huge accumulated losses recorded by the company. The company has recorded huge accumulated losses. The external borrowing
also seems to be huge. However, business is active. Payments are reported to be slow and
delayed. The company can be considered for business dealings on a safe and
secured trade terms and condition. |
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
India’s current account deficit for the fiscal third quarter ended September
2013 narrowed to $4.2 billion or 0.9 % of the gross domestic product from $31.9
billion or 6.5 % of GDP a year earlier, thanks to a pick-up in exports and
moderation in gold imports. Manufacturing activity and new orders in India
showed their strongest growth in a year in February. The news comes as a relief
after data showed Asia’s third largest economy grew by a slower-than-expected
4.7 % annually in the three months through December. The HSBC Manufacturing
Purchasing Managers’ Index which gauges the business activity of India’s
factories but not its’ utilities, rose to 52.5 in February, its highest in a
year from 51.4 in January. Overall new orders for factory goods which rose to a
one-year high of 54.9 contributed to the surge. China has emerged as India’s
biggest trading partner in the current financial year replacing the United Arab
Emirates and pushing it to the third spot. India-China trade has reached $49.5
billion with a 8.7 % share in India’s total trade. The US comes second at $46
billion with 8.1 % share during the first nine months of the current financial
year.
The Reserve Bank of India has granted an additional nine months to the
public to exchange currency notes printed before 2005 including Rs 500 and Rs
1,000 denominations, pushing the deadline to January 1, 2015. A day before
dates for the Lok Sabha polls were announced, the government decided to hike
interest rates on fixed deposit schemes offered by post offices up to 0.2 per
cent. The new rates will be effective April, 1. The Supreme Court will resume
hearing on March, 11 Nokia’s appeal against a ruling over transferring
ownership of its local mobile phones plant which is the subject of a tax
dispute to Microsoft Corp.
In the last days of the current Government, another scam has surfaced.
The defence ministry has ordered a probe into Hindustan Aeronautics Limited’s
contracts from Britain’s Rolls-Royce Holdings worth at least $ 1.2 billion. The
Central Bureau of Investigation will look into allegations that over $80
million was paid in kickbacks in a deal signed in 2011. India has asked Boeing
Co. to find a solution for problems with state-owned Air India’s 787
Dreamliners. The aircraft has experienced a series of malfunctions since its
debut in 2011.
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-Cooperative (Tel No.: 91-44-24501042)
LOCATIONS
|
Registered Office : |
Technopolis Knowledge Park, 2nd Floor, Mahakali Caves
Road, Chakala, Andheri (East), Mumbai – 400093, Maharashtra, India |
|
Tel. No.: |
91-44-24964477/24960349 |
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Fax No.: |
91-44-24343344 |
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E-Mail : |
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Website : |
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Corporate Office : |
Futura Tech Park, Q4 , 4th Floor, Block B #334, OMR Sholinganallur, Chennai – 600119, Tamilnadu, India |
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Factory 1 : |
Natham Ekattur Road, Thalambur Village, Chengalpet (TK), Kancheepuram District – 603103, Tamilnadu, India |
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Factory 2 : |
Village Sallewal, Bharatgarh Road, Nalagarh, District – Solan – 174101, Himmachal Pradesh, India |
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Customer Care Office: |
4/5, 4th Cross Street, Seethamal Colony, Alwarpet, Chennai - 600018,
Tamilnadu, India |
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Tel. No.: |
91-44-24328822 |
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E-Mail : |
DIRECTORS
As on 13.08.2012
|
Name : |
Mr. Nandakishore Raman |
|
Designation : |
Director |
|
Address : |
D 100, Second Floor, Anand Niketan, New Delhi – 110021, India |
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Date of Birth/Age : |
25.04.1955 |
|
Date of Appointment : |
10.12.2012 |
|
DIN No.: |
06445449 |
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|
|
|
Name : |
Mr. Angarai Dorairjan Aditya Ratnam |
|
Designation : |
Director |
|
Address : |
B-1/001 Ananda Apartments, Sector 48, Noida – 201301, Uttar Pradesh,
India |
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Date of Birth/Age : |
25.04.1960 |
|
Date of Appointment : |
13.08.2012 |
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DIN No.: |
05296020 |
KEY EXECUTIVES
|
Name : |
Mr. Achuthan R. |
|
Designation : |
Secretary |
|
Address : |
25, VGP Selva Nagar Extension, Velachery, Chennai – 600042, Tamilnadu,
India |
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Date of Birth/Age : |
23.10.1979 |
|
Date of Appointment : |
17.02.2012 |
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PAN No.: |
AMEPR0253N |
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|
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|
Name : |
Mr. Niroy |
|
Designation : |
Deputy Manager |
MAJOR SHAREHOLDERS
As on 13.08.2012
|
Names of Shareholders |
No. of Shares |
Remarks |
|
Rajiv Jivanlal Wani |
100 |
Held as Nominal Shareholders for Philips Electronics India Limited |
|
Gaurav Malik |
100 |
|
|
Philips Electronics India Limited, India |
14294860 |
|
|
Harihar Subramaniak |
100 |
Held as Nominal Shareholder for Philips Limited |
|
Rajeev Chopra |
100 |
|
|
T. K. Das |
100 |
|
|
Yashwant Mahadik |
100 |
|
|
Vijay Srinivasan |
100 |
Equity Share Break up (Percentage of Total Equity)
As on 13.08.2012
|
Category |
Percentage |
|
Bodies corporate |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Seller of Domestic Appliances. |
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Products : |
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PRODUCTION STATUS As on 31.03.2012
|
Particulars |
|
Unit |
Installed
Capacity |
Actual
Production |
|
Jars |
|
Pieces |
4083333 |
3276014 |
|
Injection Moulding |
|
- |
2333333 |
1837852 |
|
Mixer grinder |
|
Pieces |
1633333 |
1287350 |
|
Motor |
|
Pieces |
1050000 |
763126 |
|
Induction cook tops |
|
Pieces |
816667 |
627393 |
|
Electric irons |
|
Pieces |
128333 |
105318 |
|
Electric rice cookers |
|
Pieces |
128333 |
103685 |
|
Spares, scraps and accessories |
|
- |
116667 |
96900 |
|
S. S. Jar |
|
Pieces |
87500 |
68321 |
|
Coffee Maker |
|
Pieces |
46667 |
32346 |
|
Wet Grinder |
|
Pieces |
29167 |
23001 |
|
Electric Pressure Cooker |
|
Pieces |
4083 |
2758 |
GENERAL INFORMATION
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No. of Employees : |
Information denied by management |
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Bankers : |
Not Available |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
B.S.R. and Company Chartered Accountant |
|
Address : |
Building No-10, 8th Floor, Tower-B, DLF Cyber City, Phase II, Gurgaon – 122002, Haryana, India |
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PAN No.: |
AAAFB9852F |
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Holding Company : |
CIN No.: U31902WB1930PLC006663 |
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Ultimate Holding
Company : |
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Fellow Subsidiary
Company : |
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CAPITAL STRUCTURE
As on 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
15000000 |
Equity Shares |
Rs.10/- each |
Rs.150.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
14294860 |
Equity Shares |
Rs.10/- each |
Rs.142.949
Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2013 |
31.03.2012 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
142.949 |
142.949 |
|
(b) Reserves & Surplus |
|
(1571.439) |
68.487 |
|
(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) |
|
(1428.490) |
211.436 |
|
|
|
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|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
5400.699 |
5401.518 |
|
(b) Deferred tax liabilities (Net) |
|
0.000 |
0.000 |
|
(c) Other long term
liabilities |
|
33.071 |
10.268 |
|
(d) long-term provisions |
|
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
|
5433.770 |
5411.786 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
|
1364.908 |
480.600 |
|
(b) Trade
payables |
|
626.513 |
503.674 |
|
(c) Other
current liabilities |
|
262.348 |
265.340 |
|
(d) Short-term
provisions |
|
27.760 |
30.265 |
|
Total Current
Liabilities (4) |
|
2281.529 |
1279.879 |
|
|
|
|
|
|
TOTAL |
|
6286.809 |
6903.101 |
|
|
|
|
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|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
|
461.094 |
483.854 |
|
(ii)
Intangible Assets |
|
4685.660 |
5474.794 |
|
(iii)
Capital work-in-progress |
|
0.881 |
0.000 |
|
(iv)
Intangible assets under development |
|
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 |
|
74.466 |
73.477 |
|
(e) Other
Non-current assets |
|
0.440 |
0.946 |
|
Total Non-Current
Assets |
|
5222.541 |
6033.071 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
|
0.000 |
0.000 |
|
(b)
Inventories |
|
721.668 |
508.231 |
|
(c) Trade receivables |
|
192.288 |
194.734 |
|
(d) Cash
and cash equivalents |
|
43.206 |
38.475 |
|
(e)
Short-term loans and advances |
|
107.106 |
138.590 |
|
(f) Other
current assets |
|
0.000 |
0.000 |
|
Total
Current Assets |
|
1064.268 |
880.030 |
|
|
|
|
|
|
TOTAL |
|
6286.809 |
6913.101 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
||
|
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||
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|
GROSS INCOME |
|
4743.000 |
4381.000 |
||
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||
|
Less |
EXPENSES |
|
|
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||
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|
Office Expenses |
|
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|
Administrative Expenses |
|
|
|
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|
Advertising Expenses |
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TOTAL |
|
6383.000 |
5170.000 |
|
|
|
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|
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||
|
|
PROFIT/(LOSS)
BEFORE TAX) |
|
(1640.000) |
(789.000) |
||
|
|
|
|
|
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||
|
Less |
TAX |
|
0.000 |
0.000 |
||
|
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||
|
|
PROFIT/(LOSS)
AFTER TAX |
|
(1640.000) |
(789.000) |
||
|
|
|
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||
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EARNINGS IN
FOREIGN CURRENCY |
|
|
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||
|
|
|
Export Earnings |
|
142.595 |
81.000 |
|
|
|
TOTAL EARNINGS |
|
142.595 |
81.000 |
||
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IMPORTS |
|
|
|
||
|
|
|
Raw Materials |
|
60.867 |
898.000 |
|
|
|
|
Finished Goods |
|
76.798 |
5.000 |
|
|
|
TOTAL IMPORTS |
|
137.665 |
903.000 |
||
|
|
|
|
|
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||
|
|
Earnings Per
Share (Rs.) |
|
(114.72) |
(64.25) |
||
KEY RATIOS
|
PARTICULARS |
|
|
31.03.2013 |
31.03.2012 |
|
Return on Total Assets (PBT/Total Assets} |
(%) |
|
(143.96) |
(82.67) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
|
(1.15) |
(3.73) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
|
(4.74) |
(27.82) |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
|
0.47 |
0.69 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
|
31.03.2012 |
31.03.2013 |
|
|
|
Rs.
In Millions |
Rs.
In Millions |
|
Share Capital |
|
142.949 |
142.949 |
|
Reserves & Surplus |
|
68.487 |
(1571.439) |
|
Net
worth |
|
211.436 |
(1428.490) |
|
|
|
|
|
|
long-term borrowings |
|
5401.518 |
5400.699 |
|
Short term borrowings |
|
480.600 |
1364.908 |
|
Total
borrowings |
|
5882.118 |
6765.607 |
|
Debt/Equity
ratio |
|
27.820 |
(4.736) |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
|
31.03.2012 |
31.03.2013 |
|
|
|
Rs.
In Millions |
Rs.
In Millions |
|
Gross Income |
|
4,381.000 |
4,743.000 |
|
|
|
|
8.263 |
NET PROFIT MARGIN
|
Net
Profit Margin |
|
31.03.2012 |
31.03.2013 |
|
|
|
Rs.
In Millions |
Rs.
In Millions |
|
Gross Income |
|
4,381.000 |
4,743.000 |
|
Profit |
|
(789.000) |
(1,640.000) |
|
|
|
(18.01%) |
(34.58%) |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS NOT AVAILABLE
|
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
two years |
Yes |
|
12] |
Profitability for last
two 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 |
No |
|
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 |
|
Long Term Borrowings |
|
|
|
Fully
Convertible Debentures Intercorporate (The Compulsorily
Convertible Debentures are convertible into equal number of equity shares at the
end of 5 years from the date of issue with a face value of Rs.10 and a
premium of Rs.105) |
5400.000 |
5400.000 |
|
Short Term
Borrowings |
|
|
|
Rupee term loans from banks |
404.908 |
0.000 |
|
Loans Repayable on demand |
20.000 |
0.000 |
|
Intercorporate Deposits |
940.000 |
480.600 |
|
Total |
6764.908 |
5880.600 |
BRIEF BACKGROUND OF
THE COMPANY
Subject was incorporated as on February 21, 2011. It is a wholly owned subsidiary of Philips Electronics India Limited. The Company sells mixies, table top grinders, coffee makers, Induction cookers, electric rice cookers, electric kettle, electric iron, electric pressure cooker and vessels for induction cooker.
BUSINESS PERFORMANCE:
The operations of
the Company gained further momentum during the year 2012-13. The market
environment continued to remain depressed due to external economic situation as
well as lower power availability. The distribution of free Mixer Grinders and
Wet grinders by the Tamilnadu State government continued to impact the sale of
these items in the state. The lower power availability in all the four southern
states also impacted the sale of Induction Cook Tops. The Company aims to regain
its share in the mixer grinder market with planned introduction of new products
to different segments of the market. They are also looking to further expand
our product portfolio into other categories like Table Top Grinders, Blenders,
Choppers, and Food Processors etc. The company also plans to increase its focus
on Induction Cook Tops with the creation of local manufacturing facility. The
commitment to drive local innovation continues with the creation of a Global
Innovation and Development centre at Chennai. This Global centre will enable
bringing in latest technological inputs and integrate it with local consumer
insights to develop locally relevant product innovations. The Company has also
made rapid progress in servicing the requirements of Global Philips
Organisations as well as Indian diaspora in different countries. Our exports
now go to countries like Singapore, the Middle East, and USA, various parts of
Europe, and Australia among other places. The Industrial Organisation has been
reorganised to provide greater efficiency and higher productivity. They have
also set in motion, action to create sufficient capacity taking into
consideration the manufacturing capabilities required by both Philips and
Preethi brands in the future years. The company has continued to invest in
building people capability. Reorganisation of pay and benefits and HR
processes, has helped in better HR practices. They will continue to invest in
developing people capabilities through continuous training inputs, introduction
of international processes and capability building.
NOTE: NO CHARGES EXIST FOR THE COMPANY
FIXED ASSETS
· Office Equipment’s
· Building
· Factory Equipment’s
· Computer Equipment’s,
· Furniture and Fixtures
· Motor Vehicles
· Leasehold Properties
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.60.12 |
|
|
1 |
Rs.100.07 |
|
Euro |
1 |
Rs.82.74 |
INFORMATION DETAILS
|
Information
Gathered by : |
PRT |
|
|
|
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
VNT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
2 |
|
PAID-UP CAPITAL |
1~10 |
2 |
|
OPERATING SCALE |
1~10 |
2 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
1 |
|
--PROFITABILIRY |
1~10 |
1 |
|
--LIQUIDITY |
1~10 |
1 |
|
--LEVERAGE |
1~10 |
1 |
|
--RESERVES |
1~10 |
1 |
|
--CREDIT LINES |
1~10 |
1 |
|
--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 |
|
12 |
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.