|
Report Date : |
25.04.2014 |
IDENTIFICATION DETAILS
|
Name : |
BEVILLES PTY. LTD. |
|
|
|
|
Formerly Known As : |
DARM PTY. LTD. |
|
|
|
|
Registered Office : |
Level 3, 257 Collins Street, Melbourne, Victoria, 3000 |
|
|
|
|
Country : |
Australia |
|
|
|
|
Date of Incorporation : |
25.06.1974 |
|
|
|
|
Com. Reg. No.: |
005064308 |
|
|
|
|
Legal Form : |
Australian Proprietary Company |
|
|
|
|
Line of Business : |
Subject engages in retail sales of jewellery, diamonds, gemstones,
watches, homewares and giftwares. |
|
|
|
|
No. of Employees : |
477 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca |
|
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 |
|
Payment Behaviour : |
Delayed |
|
Litigation : |
Clear |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – March 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
Australia |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderately Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderately High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
D |
AUSTRALIA - ECONOMIC OVERVIEW
The Australian economy has
experienced continuous growth and features low unemployment, contained
inflation, very low public debt, and a strong and stable financial system. By 2012,
Australia had experienced more than 20 years of continued economic growth,
averaging 3.5% a year. Demand for resources and energy from Asia and especially
China has grown rapidly, creating a channel for resources investments and
growth in commodity exports. The high Australian dollar has hurt the
manufacturing sector, while the services sector is the largest part of the
Australian economy, accounting for about 70% of GDP and 75% of jobs. Australia
was comparatively unaffected by the global financial crisis as the banking
system has remained strong and inflation is under control. Australia has
benefited from a dramatic surge in its terms of trade in recent years, stemming
from rising global commodity prices. Australia is a significant exporter of
natural resources, energy, and food. Australia's abundant and diverse natural
resources attract high levels of foreign investment and include extensive
reserves of coal, iron, copper, gold, natural gas, uranium, and renewable
energy sources. A series of major investments, such as the US$40 billion Gorgon
Liquid Natural Gas project, will significantly expand the resources sector.
Australia is an open market with minimal restrictions on imports of goods and
services. The process of opening up has increased productivity, stimulated
growth, and made the economy more flexible and dynamic. Australia plays an
active role in the World Trade Organization, APEC, the G20, and other trade
forums. Australia has bilateral free trade agreements (FTAs) with Chile,
Malaysia, New Zealand, Singapore, Thailand, and the US, has a regional FTA with
ASEAN and New Zealand, is negotiating agreements with China, India, Indonesia,
Japan, and the Republic of Korea, as well as with its Pacific neighbors and the
Gulf Cooperation Council countries, and is also working on the Trans-Pacific
Partnership Agreement with Brunei Darussalam, Canada, Chile, Malaysia, Mexico,
New Zealand, Peru, Singapore, the US, and Vietnam.
|
Source
: CIA |
Verified Address
Subject name : BEVILLES PTY. LTD.
Other style / Business name : BEVILLES
JEWELLERS
Business address : Level
3, 257 Collins Street
Town : Melbourne
Province : Victoria
Zip/postal code : 3000
Country : Australia
Tel : +61
3 86659900
Fax : +61
3 86659955
Email : sales@bevilles.com.au
Website : www.bevilles.com.au
Registered address : Level
3, 257 Collins Street
Town : Melbourne
Province : Victoria
Zip/postal code : 3000
Country : Australia
Postal address : P.O.
Box 232
Town : Flinders
Lane
Province : Victoria
Zip/postal code : 8009
Country : Australia
Comments : Note:
The Subject has entered into Voluntary Administration on 1st April 2014 and
hope to restructure its business.
The Beville family have proposed a rescue
plan that would see the family buy back a “significant” number of the stores
from the administrators and retain 230 full and part-time staff.
The rescued stores would be converted into
smaller stores that would require fewer staff, and would scrap giftwear in
favour of concentrating solely on jewellery.
Executive Summary
Date founded or registered :
25/06/1974
Legal form : Australian
Proprietary Company
Chief executive : Michelle
Beville-Stanton
Issued & paid up capital : AUD
100,002
Sales turnover : AUD
55,000,000 (Estimated Non-Consolidated 12 months, 30/06/2012)
Line of business : Retail
sales of jewellery, diamonds, gemstones and watches.
Staff employed : 477
employees
Company Analysis
Country risk : Country
risk is minimal
Operation trend : Operational
trend is declining
Management experience : Management
is adequately experienced
Financial performance : Financial
performance is declining
Organisation structure : Organisational
structure is acceptable
Detrimental : Serious
detrimental found
Payment history : Serious
payment delays noted
Comments : Note: The Subject has
entered into Voluntary Administration on 1st April 2014 and hope to restructure
its business.
The Beville family have proposed a rescue
plan that would see the family buy back a “significant” number of the stores
from the administrators and retain 230 full and part-time staff.
The rescued stores would be converted into
smaller stores that would require fewer staff, and would scrap giftwear in
favour of concentrating solely on jewellery.
Registry Data
Registration date : 25/06/1974
Legal form : Australian
Proprietary Company
Registration no Australian
Company Number: 005064308
Registered authority : Australian
Securities and Investments Commission
Fiscal/ Tax no : Australian
Business Number: 16005064308
Registry status : Live/Active
Previous name : DARM
PTY. LTD. (initial)
Change of legal form : None
reported.
Other registration
: BEVILLES
JEWELLERS is a business name owned by the Subject registered on 10/04/2000
under business registration no: BN97713086.
BEVILLES JEWELLERS is a business name owned
by the Subject registered on 11/04/2006 under business registration no:
BN19830580.
BEVILLES JEWELLERS is a business name owned
by the Subject registered on 05/01/2004 under business registration no:
BN04265350.
Key Management
Name : Michelle
Beville-Stanton
Designation : Chief
Executive Officer
Name : Gary
Beville
Designation : General
Manager
Name : Tony
Sprogis
Designation : Chief
Financial Officer
Name : David
Laurence Mcevoy
Designation : External
Administrator
Name : Ian
Menzies Carson
Designation : External
Administrator
Appointments
Name : Keith
Robert Beville
Designation :
Director and Company Secretary
Appointment date : 25/06/74
Address : 11
Whernside Avenue
Toorak, VIC 3142
Australia
Biography : Born
on 10-11-1934 in Sydney, New South Wales, Australia.
Name : David
Laurence Mcevoy
Designation : External
Administrator
Appointment date : 01/04/14
Address : C/o
PBB
Level 21, 181 William Street
Melbourne, VIC 3000
Australia
Name : Ian
Menzies Carson
Designation : External
Administrator
Appointment date : 01/04/14
Address : C/o
PBB
Level 21, 181 William Street
Melbourne, VIC 3000
Australia
Staff employed : 477
employees
Composition
Authorized Capital : AUD
100,002
No of shares : 100,002
Ordinary Shares
Share par value : AUD
1
Issued capital : AUD
100,002
Paid up capital : AUD
100,002
How listed : Full
List
Composition
Shareholder name : BEREICH
PTY. LTD.
Address : Level
3, 257 Collins Street
Melbourne, VIC 3000
Australia
No. of shares : 100,002
Ordinary Shares
% of shares : 100%
Structure
Name : BEREICH
PTY. LTD.
Affiliation type : Parent
Company
Address :
Level 3, 257 Collins Street
Melbourne, VIC 3000
Australia
Name : ROMEO
ART PTY LTD
Affiliation type : Associate
Address : Level
3, 257 Collins Street
Melbourne, VIC 3000
Australia
Name : BEVILLES
SUPER PTY. LTD.
Affiliation type : Associate
Address : Level
3, 257 Collins Street
Melbourne, VIC 3000
Australia
Name : BEVILLES
PARTY PLAN PTY LTD
Affiliation type : Associate
Address : Level
3, 257 Collins Street
Melbourne, VIC 3000
Australia
Bank Details
Name of bank : Commonwealth
Bank of Australia
Address : Australia
Account details : Current
Account
Comments : It is
generally not the policy of local banks to provide credit status information to
non related parties, however interested parties would be advised to consult
first with the Subject if banker's references are required.
Mortgages : None
reported.
Legal Fillings
Bankruptcy fillings : None
reported.
Court judgements : None
reported.
Tax liens : None
reported.
Others : 1st
April 2014
COMBINED NOTICE
OF APPOINTMENT AND FIRST MEETING OF CREDITORS OF COMPANY UNDER ADMINISTRATION
Company details
Company: BEVILLES PTY. LTD.
ACN: 005 064 308
Status: Administrators Appointed
Appointed: 01 April 2014
Appointor: under section 436A, the Company
Appointment details
Administrator(s): Ian Carson and David
McEvoy
See Company details (above) for the date of
appointment and the section of the
Act under which the administrator was
appointed.
Meeting details
Notice is given that a first meeting of the
creditors of the Company, or a first meeting for each of the Companies, (for
multiple companies), will be held:
Location: CQ Building
113 Queen Street
Melbourne VIC 3000
Meeting date: 11 April 2014
Meeting time: 2:00PM
Source: Australian Securities and
Investments Commission
Description
Source of financial statement : External
Sources
Financial statement date : 30/06/12
Type of accounts : Estimated
key figures
Currency : Australia
Dollar (AUD)
Exchange rate : 1
USD = AUD 1.07 as of 19-04-2014
Summarized
Financial Information
Consolidation type : Non
Consolidated
Currency : Australia
Dollar (AUD)
Denomination : (x1)
One
Date of financial year end : 30/06/12
Length of accounts : 12
months
Sale turnover / Income : 55,000,000
Comments : The
representative contacted Mr. Tony Sprogis declined to provide any financial
information until the inquiring party details are revealed.
The Subject is classified as a small
proprietary company by the Australian Securities & Investments Commission
hence is not required to disclose their financial statement.
A proprietary company is defined as small
for a financial year if it satisfies at least two of the following:
- The consolidated revenue for the financial
year of the company and any entities it controls is less than $25 million;
-The value of the consolidated gross assets
at the end of the financial year of the company and any entities it controls is
less than $12.5 million, and
-The company and any entities it controls
have fewer than 50 employees at the end of the financial year.
Main activities : The Subject
engages in retail sales of jewellery, diamonds, gemstones, watches, homewares
and giftwares.
The Subject
operates 27 stores located across Australia.
Note: The Subject has entered into Voluntary
Administration on 1st April 2014 and hope to restructure its business.
Product & services : Gold
Jewellery
Silver Jewellery
Diamonds
Gemstones
Watches
Homewares
Giftwares
Brand : CITIZEN,
GUESS, CASIO, DKNY, FOSSIL, JAG, D&G, PIERRE CARDIN, PULSAR, SEIKO
Purchases
International : China,
Hong Kong, Japan, India, Sri Lanka, United States, Europe
Sales
Local : Yes
International : No
exports.
Key events : 3
April, 2014
INDIAN COMPANY
JOINS BEVILLES, STORES TO CLOSE
By Coleby Nicholson
Bevilles Jewellers has announced an
“alliance” with Indian jewellery
company, Tara Jewels, which will mean the
closure six “non-contributing”
stores over coming months.
In a media statement, Bevilles CEO Michelle
Stanton said, “This strategic
alliance will provide Bevilles with a wide
range of product, sourcing and
operational efficiencies as well as a more
enhanced IT infrastructure.
“It allows Bevilles to have direct relationships
with diamond site holders
and remove several steps from the product
sourcing process which
benefits will flow through to our
customers,” she said.
When contacted by Jeweller to explain the
term “alliance”, Stanton was
not available for comment. However, sources
familiar with the agreement
have told Jeweller it means the Indian
company has acquired a stake in
Bevilles.
In an official notice to other suppliers
obtained by Jeweller, Tara Jewels
was described as having been “a long
standing supplier to Bevilles and is
a leading designer.”
The supplier notification also outlined new
shipping and payment details to
begin next month adding, “From 4 February
2013, all suppliers will be
required to ship orders directly to the
Indian jeweller’s Hong Kong office for
consolidation and transhipment to Bevilles.”
The Indian company, which was established in
2006, conducts a vertical
business model operating in both the
manufacturing and retail channels.
Currently, it has 30 retail stores in India
and has quickly expanded its
jewellery manufacturing and retail business
to include a presence across
five continents and more than 20 countries.
Tara Jewel website lists a sales and
distribution office in Sydney.
Store closures
The new deal will result in a number of
local store closures. Bevilles
Jewellers, which was founded in 1934, will
reduce its current retail sites
from 29 to 23.
Michelle Stanton, CEO Bevilles
In her media statement, Stanton said, “As
part of this new alliance and an
increased focus on the jewellery offer, we
will be exiting from a large range
of giftware products offered in store. This
exit plan involves us moving to
more appropriate store formats over the next
few years and closing down
stores that are non-contributors.”
The six stores ear-marked to close are
Doncaster, Greensborough,
Moorabbin and Southland in Victoria, and
Elizabeth and Marion in South
Australia.
Like many Australian retailers, the economic
climate has been tough on
Bevilles and caused the closure of its two
Brisbane stores in July last year.
At the time, Stanton told Jeweller that the
decision was made because the
stores – in Chermside and North Lakes – were
not achieving adequate
turnover, despite impressive foot traffic.
Bevilles also closed its high-profile Bourke
Street Mall store in Melbourne in
August 2011 after the mega international
brand Swarovski outbid it on a
new lease deal.
Indian jewellers expanding
This is not the first time an Indian
jewellery company has acquired an
Australian retail chain.
After much speculation throughout 2011,
Jeweller reported that one of the
worlds largest jewellery manufacturers M
Suresh Group DMCC had
purchased The Jewellery Group (TJG) from
private equity firm Quadrant.
The Mumbai-based company bought TJG, which
operated the Zamels and
Mazzuchellis retail brands, for an
undisclosed amount. Sources close to
the negotiations, however, said the price
tag for the 129-store business
was between $18-$19 million.
Zamels and Mazzuchellis stores continue to
operate under their respective
brand names however, unfortunately for M
Suresh, Zamels recently hit the
headlines after being found guilty by The
Federal Court for misleading
consumers regarding savings made on
jewellery.
Although the conviction and $250,000 fines
relates to the former owner of
the Zamels chain, M Suresh suffers the bad
publicity from the ACCC
action.
Tara worldwide
Tara Jewels was recently listed on the
Mumbai Stock Exchange and the
National Stock Exchange of India. The
Mumbai-based company has four
manufacturing facilities and exports from
India to retailers in the US, UK,
Europe, China, South Africa, UAE and Canada.
It lists itself as a major supplier to the
US retailer Zale Corporation, which
has more than 1900 retail locations
throughout US and Canada, and in the
UK Sterling Jewellers, which has 1300 UK
retail locations. Tara also
supplies retailing giant Wal-Mart in the US.
Ironically, having outbid Bevilles on the
Bourke Street Mall location two
years ago, Swarovski, through its affiliate
Chrystalon Finanz AG, is a major
shareholder in Tara Jewels.
Source: www.jewellermagazine.com
3 April, 2014
Inflexible landlords cited in Bevilles
collapse
Inflexible landlords have been blamed for
the final push that led to the
collapse of 80-year-old family-owned
jewellery store chain Bevilles.
Bevilles, which opened its first store in
Melbourne Bourke Street Mall in
1934, has entered voluntary administration,
placing about 477 jobs in
doubt.
Although the company says its too early to
say how many redundancies
will be needed, media reports say more than
half of the employees could
lose their jobs. The retail sector has been
hit with a wave of collapses since
the financial crisis, especially in fashion,
including stores such as Brown
Sugar, Bettina Liano, Ed Harry, Ojay,
Colorado and Snowgum. Bevilles
chief executive Michelle Beville, whose
grandparents Leo and Rae founded
the company, said she had been working on a
plan to avoid collapse.
In January last year, six stores were slated
for closure in a plan to phase
out giftware and halve the physical size of
the stores. But only one -
Moorabbin - was able to break its lease. She
said the company needed to
focus on its strength, which was selling 'beautiful,
quality jewellery at
affordable prices', hence the need to cut
down on physical space.
Sonia, who declined to give her surname, was
stoic about the companys
future. She said staff at the Broadmeadows
Town Centre store had
attended a meeting on Tuesday evening where
they learnt that
administrators PPB Advisory had been called
in. They expect to know more
in early May.
Staff were told some of the 27 stores would
close and 47 full-time and 200
part-time jobs would go. There are 17 stores
in Melbourne.
A restructure proposal will be presented to
creditors. Ms Beville said the
plan includes retaining the companys
customer rewards program, the
Eternity Club, and the Bevilles brand, and
as much staff as possible.
Source: www.theage.com.au
1st April 2014
PPB ADVISORY APPOINTED VOLUNTARY
ADMINISTRATORS OF
BEVILLES PTY LTD
David McEvoy and Ian Carson of PPB Advisory
have been appointed
Voluntary Administrators of Bevilles Pty Ltd
which operates 27 jewellery
stores around Victoria, NSW and South Australia.
PPB Advisory partner David McEvoy said “Our
intention is that most of the
stores will continue to trade while we
assess the ongoing viability of the
business and work with management and other
stakeholders to explore
restructuring and sale options.
“We understand that the company intends to
put forward a restructuring
proposal, which we will assess and report on
to creditors.”
The first meeting of creditors will be held
on 11 April 2014.
Source: www.ppbadvisory.com
Property &
Assets
Premises : The
Subject operates from the verified heading address consisting of an
administrative office.
Branches : In
addition, the Subject operates from 27 retail stores located in New South
Wales, South Australia, Queensland, Victoria and Australian Capital Territory.
SUMMARIZED COUNTRY
RISK
Gross Domestic
Products (GDP) & Economic Overview
Central bank : Reserve
Bank of Australia
Reserve of foreign exchange & gold : US$ 46.714 billion
Gross domestic product - GDP : US$
1.586 trillion
GPP (Purchasing power parity) : 954.296
billion of International dollars
GDP per capita - current prices : US$
68,916
GDP - composition by sector : agriculture:
4%
industry: 25.6%
services: 70.4%
Inflation : 2010:
2.8%
2011: 3.4%
2012: 2.7%
Unemployment rate : 2010:
5.2%
2011: 5.1%
2012: 5.2%
Public debt: 2010:
20.4%
(General Government gross debt as 2011:
22.9%
a % GDP) 2012:
24%
Government bond ratings : Standard
& Poor's: AAA
Moody's rating: Aaa
Moody's outlook: STA
Market value of publicly traded: US$1.198
trillion
shares
Largest companies in the country : Qantas
Airways (Airline),Coca-Cola Amatil (Beverages), CSL (Biotechs),
Brambles (Business & Personal
Services),Crown Ltd (Casinos & Gaming), Amcor (Containers &
Packaging),Suncorp-Metway (Diversified Insurance), BHP Billiton (Diversified
Metals & Mining),Newcrest Mining (Diversified Metals & Mining), Orica
(Diversified Metals & Mining), Iluka Resources(Diversified Metals &
Mining), Origin Energy (Electric Utilities), AGL Energy (Electric Utilities),
Wesfarmers (Food Retail), Woolworths (Food Retail), Metcash (Food Retail),
Macquarie Group (Investment services), AMP (Investment services), Challenger
Ltd (Investment services), Fortescue Metals Group (Iron & Steel), Bluescope
Steel (Iron & Steel), Commonwealth Bank (Major Banks), Westpac Banking
Group (Major Banks), National Australia Bank (Major Banks), ANZ (Major Banks),
Woodside Petroleum (Oil & Gas Operations), Santos (Oil & Gas
Operations), Caltex Australia (Oil & Gas Operations), WorleyParsons (Oil
Services & Equipment), Toll Holdings (Other Transportation), Transurban
Group (Other Transportation), QBE Insurance Group (Property & Casualty
Insurance), Insurance Australia Group (Property & Casualty Insurance), QR
National (Railroads), Westfield Group (Real Estate), Stockland Australia (Real
Estate), Westfield Retail Trust (Real Estate), Lend Lease (Real Estate), CFS
Retail Property Trust (Real Estate), Goodman Group (Real Estate), Bendigo &
Adelaide Bank (Regional Banks), Bank of Queensland (Regional Banks), Incitec
Pivot (Specialized Chemicals), Telstra (Telecommunications Services)
Trade &
Competitiveness Overview
Total exports : US$263.9
billion
Exports
commodities : Coal,
iron ore, gold, meat, wool, alumina, wheat, machinery and transport equipment
Total imports : US$239.7
billion
Imports
commodities : Machinery
and transport equipment, computers and office machines, telecommunication
equipment and parts; crude oil and petroleum products
Export - major partners : China
27.4%, Japan 19.2%, South Korea 8.9%, India 5.8%
Import - major partners : China
18.5%, US 11.4%, Japan 7.9%, Singapore 6.3%, Germany 4.7%
FDI Inflows : 2009:
US$26,554 million
2010: US$35,556 million
2011: US$41,317 million
FDI Outflows : 2009:
US$16,693 million
2010: US$12,791 million
2011: US$19,999 million
Best countries for doing business : 10
out of 185 countries
Global competitiveness ranking :
20 (ranking by country on a basis of 144, the first is the best)
Country and
Population Overview
Total population : 22.68
million
Total area : 7,692,024
km2
Capital : Canberra
Currency : Australian
dollars (AUD)
Internet users as % of total: 79%
population
Purchase Term
International : L/C,
Prepayment, Telegraphic transfer, Credit up to 120 days
Sales Term
Local : Cash,
Credit card
Trade Reference/
Payment Behaviour
Comments : As
local and international trade references were not supplied, the Subject's
payment track record history cannot be appropriately determined but based on
our research, payments are believed to be met without delay.
Investigation Note
Sources :
Interviews and material provided by the Subject
: Other official
and local business sources
DIAMOND INDUSTRY – INDIA
-
From time immemorial, India is well known in the world
as the birthplace for diamonds. It is difficult to trace the origin of
diamonds but history says that in the remote past, diamonds were mined only in
India. Diamond production in India can be traced back to almost 8th
Century B.C. India, in fact, remained undisputed leader till 18th
Century when Brazilian fields were discovered in 1725 followed by emergence of
S. Africa, Russia and Australia.
-
The achievement of the Indian diamond industry was
possible only due to combination of the manufacturing skills of the Indian
workforce and the untiring and unflagging efforts of the Indian diamantaires,
supported by progressive Government policies.
-
The area of study of family owned diamond businesses
derives its importance from the huge conglomerate of family run organizations
which operate in the diamond industry since many generations.
-
Some of the basic traits of family run business
enterprises include spirit of entrepreneurship, mutual trust lowers transaction
costs, small, nimble and quick to react, information as a source of advantage
and philanthropy.
-
Family owned diamond businesses need to improve on
many fronts including higher standard of corporate governance, long-term
performance – focused strategies, modern management and technology.
-
Utmost caution is to be exercised while dealing with
some medium and large diamond traders which are usually engaged in fictitious
import – export, inter-company transactions, financially assisted by banks. In
the process, several public sector banks lost several hundred million rupees.
They mostly diverted borrowed money for diamond business into real estate and
capital markets.
-
Excerpts from Times of India dated 30th
October 2010 is as under –
-
Gem & Jewellery Export Promotion Council in its
statistical data has shown the export of polished diamonds to have increase by
28 % in February 2013. Compared to $ 1.4 bn worth of polished diamond export in
February, 2012, India exported $ 1.84 billion worth of polished diamonds in February
2013. A senior executive of GJEPC said, “Export of cut and polished diamonds
started falling month-wise after the imposition of 2 % of import duty on the
polished diamonds. But February, 2013 has given a new ray of hope to the
industry as the export of polished diamonds has actually increased by 28 %. It
means the industry is on the track of recovery and round tripping of
diamonds has stopped completely.” Demand has started coming from the US, the
UK, Japan and China. India’s polished diamond export is expected to cross $ 21
bn in 2013-14.
-
The banking sector has started exercising restraint
while following prudent risk management norms when lending money to gems and
jewellery sector. This follows the implementation of Basel III accord – a
global voluntary regulatory standard on bank capital adequacy, stress testing
and market liquidity.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.07 |
|
|
1 |
Rs.102.77 |
|
Euro |
1 |
Rs.84.49 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
NNA |
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 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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.