MIRA INFORM REPORT
|
Report Date : |
07.04.2014 |
IDENTIFICATION DETAILS
|
Name : |
HARMAN COTTEX AND SEEDS PRIVATE LIMITED (w.e.f. 26.10.2009) |
|
|
|
|
Formerly Known
As : |
HARMAN COTTEX PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Opposite Dejala Devada Colony, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
14.07.2009 |
|
|
|
|
Com. Reg. No.: |
10-022131 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs.2.973
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U01111MP2009PTC022131 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
BPLH01175G |
|
|
|
|
PAN No.: [Permanent Account No.] |
AACCH2497R |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Oil and Trader of Cotton, Agro Processing Business. |
|
|
|
|
No. of Employees
: |
20 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (27) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 180000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having a moderate track record. The company has taken huge external borrowing, which acts as threating
to the liquidity position of the company. However, trade relations are fair. Business is active. Payment terms
are slow but correct. The company can be considered for business dealing with some caution. |
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 – December 1, 2013
|
Country Name |
Previous Rating (30.09.2013) |
Current Rating (01.12.2013) |
|
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
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.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
|
Rating |
Long term fund based Limit: B- |
|
Rating Explanation |
High risk of default regarding timely servicing of payments. |
|
Date |
May 2013 |
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
|
Name : |
Mr. Vijay Tritate |
|
Designation : |
Accounts Executive |
|
Contact No.: |
91-7282-241192 |
|
Date : |
15.03.2014 |
LOCATIONS
|
Registered Office/Factory : |
Opposite Dejala Devada Colony, |
|
Tel. No.: |
91-7282-241192 |
|
Mobile No. : |
91-9752234222 (Mr. Nitin Gemini) |
|
Fax No.: |
91-7282-241719 |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
DIRECTORS
As on 30.09.2013
|
Name : |
Mr. Rasdeep Singh Chawla |
|
Designation : |
Director |
|
Address : |
4-Ishvari Nagar, Khargone-451001, |
|
Date of Birth/Age : |
30.06.1965 |
|
Date of Appointment : |
14.07.2009 |
|
DIN No.: |
02137804 |
|
|
|
|
Name : |
Mr. Manjeet Singh Chawla |
|
Designation : |
Director |
|
Address : |
4-Ishvari Nagar, Khargone-451001, |
|
Date of Birth/Age : |
30.06.1965 |
|
Date of Appointment : |
14.07.2009 |
|
DIN No.: |
02137928 |
KEY EXECUTIVES
|
Name : |
Mr. Vijay Tritate |
|
Designation : |
Accounts Executive |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2013
|
Names of Shareholders |
|
No. of Shares |
|
Rasdeep Singh Chawla |
|
55000 |
|
Manjeet Singh Chawla |
|
41650 |
|
Trilochan Kour Chawla |
|
3300 |
|
Maninder Kour Chawla |
|
33250 |
|
Maninder Kour Chawla |
|
165000 |
|
Rasdeep Singh Chawla HUF |
|
100 |
|
Herald Tradelinks Private Limited, |
|
20000 |
|
Piyush Chemotreat Private Limited, |
|
20000 |
|
Shine Star Estate Private Limited, |
|
20000 |
|
Pinkcity Softpro Private Limited, |
|
20000 |
|
Gandhi Bapulal Pannalal |
|
500 |
|
GBP Cotton Company, India |
|
500 |
|
Nirmal Gandhi HUF |
|
500 |
|
|
|
|
|
Total |
|
379800 |
As on 30.09.2013
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Bodies
corporate |
|
21.06 |
|
Directors
or relatives of directors |
|
78.54 |
|
Other top fifty shareholders |
|
0.40 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Oil and Trader of Cotton, Agro Processing Business. |
|
|
|
|
Exports : |
|
|
Products : |
Finished Goods |
|
Countries : |
|
|
|
|
|
Terms : |
|
|
Selling : |
Cash, Credit |
|
|
|
|
Purchasing : |
Cash, Credit |
GENERAL INFORMATION
|
Customer: |
End Users |
||||||||||||||||||||||||||||
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No. of Employees : |
20 (Approximately) |
||||||||||||||||||||||||||||
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Bankers : |
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||||||||||||||||||||||||||||
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||||||||||||||||||||||||||||
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Facilities : |
Note : LONG-TERM
BORROWINGS
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Anil Kamal Garg and Company Chartered Accountant |
|
Address : |
|
|
Tel. No.: |
91-731-2700940/2704354 |
|
PAN No.: |
AAHFA7509B |
|
|
|
|
Associates : |
|
CAPITAL STRUCTURE
AFTER 30.12.2010
As on 30.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
500000 |
Equity Shares |
Rs.10/- each |
Rs.5.000 Millions |
Issued, Subscribed Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
379800 |
Equity Shares |
Rs.10/- each |
Rs.3.798
Millions |
Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
214800 |
Equity Shares |
Rs.10/- each |
Rs.2.148
Millions |
|
165000 |
Equity Shares |
Rs.5/- each |
Rs.0.825
Millions |
|
|
|
|
|
|
|
Total |
|
Rs.2.973 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 |
2.973 |
2.973 |
2.148 |
|
(b) Reserves & Surplus |
41.261 |
34.003 |
19.722 |
|
(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) |
44.234 |
36.976 |
21.870 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
163.782 |
154.684 |
132.999 |
|
(b) Deferred tax liabilities
(Net) |
0.365 |
0.198 |
0.106 |
|
(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) |
164.147 |
154.882 |
133.105 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
51.834 |
66.873 |
59.736 |
|
(b) Trade payables |
29.861 |
6.803 |
25.067 |
|
(c) Other current liabilities |
6.754 |
6.184 |
30.365 |
|
(d) Short-term provisions |
5.325 |
3.994 |
6.559 |
|
Total
Current Liabilities (4) |
93.774 |
83.854 |
121.727 |
|
|
|
|
|
|
TOTAL |
302.155 |
275.712 |
276.702 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
7.052 |
4.972 |
2.308 |
|
(ii) Intangible Assets |
0.000 |
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 |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
0.250 |
0.080 |
0.356 |
|
(e) Other Non-current assets |
0.009 |
0.017 |
0.026 |
|
Total
Non-Current Assets |
7.311 |
5.069 |
2.690 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
187.760 |
167.157 |
154.583 |
|
(b) Inventories |
60.301 |
59.391 |
65.832 |
|
(c) Trade receivables |
33.815 |
26.891 |
25.773 |
|
(d) Cash and cash equivalents |
2.616 |
6.813 |
12.879 |
|
(e) Short-term loans and
advances |
0.754 |
0.647 |
11.557 |
|
(f) Other current assets |
9.598 |
9.744 |
3.388 |
|
Total
Current Assets |
294.844 |
270.643 |
274.012 |
|
|
|
|
|
|
TOTAL |
302.155 |
275.712 |
276.702 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
SALES |
|
|
|
|
|
Income |
844.714 |
865.451 |
979.966 |
|
|
Other Income |
|
|
|
|
|
TOTAL
|
844.714 [Due
to Market Down] |
865.451 |
979.966 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Office Expenses |
|
|
|
|
|
Administrative Expenses |
833.864 |
857.544 |
967.864 |
|
|
Advertising Expenses |
|
|
|
|
|
TOTAL
|
833.864 |
857.544 |
967.864 |
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
10.850 |
7.907 |
12.102 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
10.850 |
7.907 |
12.102 |
|
|
|
|
|
|
|
Less |
TAX |
3.593 |
2.700 |
4.123 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
7.257 |
5.207 |
7.979 |
|
|
|
|
|
|
|
|
EARNINGS
IN FOREIGN CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
0.000 |
454.049 |
398.286 |
|
|
TOTAL
EARNINGS |
0.000 |
454.049 |
398.286 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
19.10 |
13.71 |
--- |
Expected Sales (2013-2014) : Rs. 900.000 Millions
The above information has been parted by Mr. Mr. Vijay Tritate
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
0.86
|
0.60 |
0.81 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
3.59
|
2.87 |
4.37 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.25
|
0.21 |
55.34 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
4.87
|
5.99 |
8.81 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
3.14
|
3.23 |
2.25 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(INR
in Mlns.) |
(INR
in Mlns.) |
(INR
in Mlns.) |
|
Share Capital |
2.148 |
2.973 |
2.973 |
|
Reserves & Surplus |
19.722 |
34.003 |
41.261 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
21.870 |
36.976 |
44.234 |
|
|
|
|
|
|
long-term borrowings |
132.999 |
154.684 |
163.782 |
|
Short term borrowings |
59.736 |
66.873 |
51.834 |
|
Total
borrowings |
192.735 |
221.557 |
215.616 |
|
Debt/Equity
ratio |
8.813 |
5.992 |
4.874 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(INR
in Mlns) |
(INR
in Mlns) |
(INR
in Mlns) |
|
Total Income |
979.966 |
865.451 |
844.714 |
|
|
|
(11.686) |
(2.396) |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(INR
in Mlns) |
(INR
in Mlns) |
(INR
in Mlns) |
|
Total Income |
979.966 |
865.451 |
844.714 |
|
Profit After Tax |
7.979 |
5.207 |
7.257 |
|
|
0.81% |
0.60% |
0.86% |
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 |
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 |
Yes |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
Yes |
|
20] |
Export / Import details
(if applicable) |
Yes |
|
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 |
Yes |
INDEX
OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10206378 |
29/02/2012 * |
125,000,000.00 |
BANK OF BARODA |
HOTEL VILLABHA,
DIVERSION ROAD, KHARGONE, MADHYA |
B35391382 |
* Date of charge modification
FINANCIAL
PERFORMANCE:
During the year
company has total income of Rs. 844.714 Millions in comparison to previous year total income of Rs. 865.451 Millions and earned net profit of Rs. 7.257 Millions in comparison to previous year's net profit
of Rs. 5.207 Millions.
UNSECURED LOAN
|
Particulars |
31.03.2013 (Rs.
in Millions) |
31.03.2012 (Rs.
in Millions) |
|
LONG-TERM BORROWINGS |
|
|
|
Loans and advances from related parties |
|
|
|
From Shareholders |
31.937 |
29.080 |
|
Other Loans and Advances |
|
|
|
From Shareholders |
6.088 |
5.364 |
|
From Body Corporates |
125.387 |
120.240 |
|
Total |
163.411 |
154.683 |
Fixed Assets:
- Plant and
Machinery
- Mobile Phone
- Car
- 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 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.60.10 |
|
|
1 |
Rs.99.85 |
|
Euro |
1 |
Rs.82.58 |
INFORMATION DETAILS
|
Information
Gathered by : |
PRT |
|
|
|
|
Report Prepared
by : |
SNT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
2 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
27 |
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.