MIRA INFORM REPORT
|
Report Date : |
05.04.2014 |
IDENTIFICATION DETAILS
|
Name : |
KANDOI FABRICS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
406, 4th Floor, 33-A, Lotus House, New Marine Lines, Mumbai – 400020, Maharashtra, India |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
12.02.1990 |
|
|
|
|
Com. Reg. No.: |
11-055377 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 5.376
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U17120MH1990PTC055377 |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACK3305M |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Bulk Bags and Sacks, HDPE Bags, HDPE Woven
Sacks, Jumbo Bags, PP Jumbo Bags etc. |
|
|
|
|
No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (48) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 1400000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
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|
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|
Litigation : |
Clear |
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|
Comments : |
Subject is an established company having a satisfactory track record.
Trade relations are reported to be fair. Business is active. Payments are
reported to be usually correct and as per commitment. The company can be considered for normal business dealings at usual
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 DECLINED BY
|
Name : |
Mr. Rajesh Agarwal |
|
Designation : |
Director |
|
Contact No.: |
91-22-66338751 |
|
Date : |
04.04.2014 |
LOCATIONS
|
Registered Office : |
406, 4th Floor, 33-A, Lotus House, New Marine Lines,
Mumbai – 400020, Maharashtra, India |
|
Tel. No.: |
91-22–66338751/ 52/ 66342029/ 66342053 |
|
Fax No.: |
91-22-22072660 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Daman Office : |
Plot No. 331/1-4, Near Patel Cricket Ground, Village Kachigam, Daman – 396210, Daman and Diu, India |
DIRECTORS
AS ON 30.09.2013
|
Name : |
Mr. Niranjankumar Laxminarayan Agarwal |
|
Designation : |
Managing director |
|
Address : |
C 802, Tirupati
Apartments, Ashish Building, Bhulabhai Desai Road, Mumbai – 400026,
Maharashtra, India |
|
Date of Birth/Age : |
20.01.1948 |
|
Date of Appointment : |
12.02.1990 |
|
PAN No.: |
AABPA4307K |
|
DIN No.: |
01255616 |
|
|
|
|
Name : |
Mr. Vijaykumar Laxminarayan Agarwal |
|
Designation : |
Director |
|
Address : |
2301 and 2302,
F: 23, W:B, P:1/268, B Wing, Raheja Atlantis, Lower Parel, Ganpatrao Kadam Marg,
Delisle Road, Mumbai – 400013, Maharashtra, India |
|
Date of Birth/Age : |
13.05.1958 |
|
Date of Appointment : |
20.02.2009 |
|
PAN No.: |
AABPA4310N |
|
DIN No.: |
01250424 |
|
|
|
|
Name : |
Mr. Pradeepkumar Laxminarayan Agarwal |
|
Designation : |
Director |
|
Address : |
Tirupati
Apartment, 802 Ashish Building, Peddar Road, Near Mahalaxmi Mandir, Mumbai –
400026, Maharashtra, India |
|
Date of Birth/Age : |
26.06.1963 |
|
Date of Appointment : |
30.12.2008 |
|
PAN No.: |
AABPA5295L |
|
DIN No.: |
02206116 |
|
|
|
|
Name : |
Mr. Rajeshkumar Vijaykumar Agarwal |
|
Designation : |
Director |
|
Address : |
2A, Jai Hind
Building, Dr. Atamaram Merchan Road, Bhuleshwar, Mumbai – 400002,
Maharashtra, India |
|
Date of Birth/Age : |
08.10.1988 |
|
Date of Appointment : |
29.01.2012 |
|
PAN No.: |
AEVPA0042H |
|
DIN No.: |
05163726 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2013
|
Names of Shareholders |
|
No. of Shares |
|
Poonamchand Agarwal |
|
574 |
|
Poonamchand Agarwal - HUF |
|
221 |
|
Chandadevi Agarwal |
|
109 |
|
Dimple Agarwal |
|
38 |
|
Arvindkumar Ashwinkumar Agarwal - HUF |
|
113 |
|
Arvindkumar Agarwal |
|
14 |
|
Niranjan Kumar Agarwal |
|
8013 |
|
Niranjan Kumar Agarwal HUF |
|
2691 |
|
Nirmala Agarwal |
|
7081 |
|
Rahul Agarwal |
|
529 |
|
Vijay Kumar Agarwal |
|
4078 |
|
Vijay Kumar Agarwal HUF |
|
885 |
|
Rajesh Agarwal |
|
2076 |
|
Neeta |
|
164 |
|
Pradeep Kumar Agarwal |
|
2780 |
|
Pradeep Kumar Agarwal - HUF |
|
2111 |
|
Rita Agarwal |
|
7464 |
|
Subhashchand Agarwal - HUF |
|
915 |
|
L.N. Kandoi & Sons - HUF |
|
12409 |
|
Laxminarayan Agarwal - HUF |
|
1131 |
|
Subhashchandra G Agarwal |
|
22 |
|
Kandoi Polytex Private Limited |
|
286 |
|
Mohanlal Pareek |
|
55 |
|
|
|
|
|
Total |
|
53759 |
AS ON 30.09.2013
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Bodies
corporate |
0.53 |
|
Directors
or relatives of directors |
76.28 |
|
Other
top fifty shareholders |
23.19 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Bulk Bags and Sacks, HDPE Bags, HDPE Woven
Sacks, Jumbo Bags, PP Jumbo Bags etc. |
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Products/ Services : |
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GENERAL INFORMATION
|
No. of Employees : |
Information declined by the management |
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Bankers : |
v The Royal Bank of Scotland N V 7th Floor, Sakhar Bhavan, Nariman Point, Mumbai - 400021, Maharashtra, India v Citibank N. A. First International Financial Centre, 9th Floor, Plot
No.C-54, C-55, G-Block, BKC, Bandra (East), Mumbai - 400051, Maharashtra,
India |
|||||||||||||||
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Facilities : |
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Banking
Relations : |
-- |
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|
Auditors : |
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|
Name : |
Lalit Mehta Associates Chartered Accountants |
|
Address : |
Bharat House, 2nd Floor, Office No. 5, 104
Bombay Samachar Marg, Fort, Mumbai – 400001, Maharashtra, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AACFL5763D |
|
|
|
|
Enterprises which
are owned, or have significant influence of or are partners with Key
management personnel and their relatives : |
v Arwin Tex Industries v Daman Polyfabs v Bhim Polyfabs v Kandoi Polytex Private Limited [U17110MH1997PTC108111] v Mahavir
Packaging |
CAPITAL STRUCTURE
AS ON 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
300,000 |
Equity Shares |
Rs. 100/- each |
Rs. 30.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
53,759 |
Equity Shares |
Rs. 100/- each |
Rs. 5.376
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 |
5.376 |
7.413 |
7.413 |
|
(b) Reserves & Surplus |
350.348 |
253.568 |
202.586 |
|
(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) |
355.724 |
260.981 |
209.999 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
159.525 |
192.379 |
92.765 |
|
(b) Deferred tax liabilities (Net) |
2.155 |
2.219 |
1.327 |
|
(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) |
161.680 |
194.598 |
94.092 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
24.017 |
75.005 |
170.603 |
|
(b)
Trade payables |
23.650 |
38.212 |
34.667 |
|
(c)
Other current liabilities |
19.887 |
12.954 |
7.183 |
|
(d)
Short-term provisions |
64.350 |
31.000 |
6.000 |
|
Total
Current Liabilities (4) |
131.904 |
157.171 |
218.453 |
|
|
|
|
|
|
TOTAL |
649.308 |
612.750 |
522.544 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
193.489 |
211.708 |
231.454 |
|
(ii)
Intangible Assets |
3.971 |
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
(iv) Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
25.283 |
26.187 |
33.687 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan
and Advances |
50.753 |
35.758 |
25.932 |
|
(e)
Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
273.496 |
273.653 |
291.073 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
86.322 |
96.244 |
82.724 |
|
(c)
Trade receivables |
192.008 |
178.810 |
124.932 |
|
(d)
Cash and cash equivalents |
19.570 |
16.404 |
3.786 |
|
(e)
Short-term loans and advances |
71.976 |
33.835 |
6.550 |
|
(f)
Other current assets |
5.936 |
13.804 |
13.479 |
|
Total
Current Assets |
375.812 |
339.097 |
231.471 |
|
|
|
|
|
|
TOTAL |
649.308 |
612.750 |
522.544 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
TOTAL |
1414.546 |
1220.985 |
784.599 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
1308.391 |
1149.304 |
761.413 |
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
106.155 |
71.681 |
23.186 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
33.391 |
25.907 |
(0.747) |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
72.764 |
45.774 |
23.933 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
971.143 |
818.493 |
406.416 |
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
1353.52 |
617.52 |
322.87 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
5.14 |
3.75 |
3.05 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
17.01 |
12.22 |
4.74 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.30 |
0.27 |
0.11 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.52 |
1.02 |
1.25 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.85 |
2.16 |
1.06 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Share Capital |
7.413 |
7.413 |
5.376 |
|
Reserves & Surplus |
202.586 |
253.568 |
350.348 |
|
Net
worth |
209.999 |
260.981 |
355.724 |
|
|
|
|
|
|
long-term borrowings |
92.765 |
192.379 |
159.525 |
|
Short term borrowings |
170.603 |
75.005 |
24.017 |
|
Total
borrowings |
263.368 |
267.384 |
183.542 |
|
Debt/Equity
ratio |
1.254 |
1.025 |
0.516 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Total Income |
784.599 |
1220.985 |
1414.546 |
|
|
|
55.619 |
15.853 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Total Income |
784.599 |
1220.985 |
1414.546 |
|
Profit |
23.933 |
45.774 |
72.764 |
|
|
3.05% |
3.75% |
5.14% |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info Agents |
Available in
Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
No |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact
person |
Yes |
|
11] |
Turnover of firm for last
three years |
Yes |
|
12] |
Profitability for last
three years |
Yes |
|
13] |
Reasons for variation
<> 20% |
-- |
|
14] |
Estimation for coming
financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
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 |
Yes |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
No |
CURRENT MATURITIES
OF LONG TERM DEBT: NOT AVAILABLE
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
10455172 |
10/03/2014 * |
60,000,000.00 |
CITIBANK N. A. |
FIRST INTERNATIONAL
FINANCIAL CENTRE, 9TH FLOOR, |
B98515414 |
* Date of charge modification
UNSECURED LOANS
|
UNSECURED LOANS |
31.03.2013 (Rs.
In Millions) |
31.03.2012 (Rs.
In Millions) |
|
LONG-TERM BORROWINGS |
|
|
|
Loans and advances from related parties |
150.661 |
183.513 |
|
Other loans and advances |
8.864 |
8.866 |
|
|
|
|
|
Total |
159.525 |
192.379 |
FIXED ASSETS:
v Land
v Buildings
v Residential building
v Office building
v Other building
v Plant and equipment
v Other plant and equipment
v Furniture and fixtures
v Vehicles
v Motor vehicles
v Office equipment
v Computer equipments
v Other equipments
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. 60.32 |
|
|
1 |
Rs. 100.04 |
|
Euro |
1 |
Rs. 82.65 |
INFORMATION DETAILS
|
Information
Gathered by : |
PDT |
|
|
|
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
BVA |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--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 |
|
DEFAULTERS |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
48 |
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.