MIRA
INFORM REPORT
|
Report Date : |
25.04.2014 |
IDENTIFICATION DETAILS
|
Name : |
MIKASA COSMETICS LIMITED (w.e.f. 14.06.2006) |
|
|
|
|
Formerly Known
As : |
SHEBRO INDUSTRIES LIMITED |
|
|
|
|
Registered
Office : |
101, Centre Point, Opposite Parel Post
Office, Jijibai Lane, Lalbaug,
Mumbai – 400012, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
28.04.1993 |
|
|
|
|
Com. Reg. No.: |
244923 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.10.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24244MH1993PLC244923 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMS18151A |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAGCS2183A |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacture of Cosmetic and export of perfumes, lotions, shampoos, gels. |
|
|
|
|
No. of Employees
: |
Information declined by the management. |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca (14) |
|
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 : |
Slow |
|
|
|
|
Litigation : |
Clear |
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|
|
|
Comments : |
Subject is an established company having moderate track. Management has reported minimal profits since FY 2012, with the help
of which it is gradually wiping off its accumulated losses. However, the company has eroded its networth
during 2013. Business is active. Payment terms are reported as slow. The company can be considered for business dealing on a safe a secured
trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – March 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
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
US investment bank
Goldman Sachs has upgraded its outlook on Indian markets as it expects
positive impact of the election cycle.
India’s economy may
grow 4.7 % in the current financial year, lower than the official estimate of
4.9 %, Fitch Rating said. The global rating agency expects the economy to pick
up in the next two financial years.
Global ratings
agency Standard & Poor said increasing focus by India Inc on lowering debt
is likely to improve their credit profiles.
Singapore (1.1 million
Indian tourists in 2012), Thailand (one million), the United Arab Emirates
().98 million) and Malaysia ().82 million) emerged as the preferred holidays
hotspots for Indians. The total figure is expected to increase to 1.93 million
by 2017, according to the latest Eurmonitor
international report.
There is a $29.34 bn outward foreign direct investment by domestic companies
between April and January of 2013/14 which has seen some signs of recovery
according to a Care Ratings report.
There are 264 number
of new companies being set up every day on average during 2014. Most of them
are registered in Mumbai. India had 1.38 million registered companies at the
end of January, 2014.
Twitter like
messaging service Weibo Corporation has filed to
raise $ 500 million via a US initial public offering. Alibaba,
which owns a stake in Weibo is expected to raise
about $ 15 billion New York this year in the highest profile Internet IPO since
Facebook’s in 2012.
Bharti Airtel has raised
Rs.2,453.2 crore (350 million Swiss Francs) by
selling six-year bonds at a coupon rate of three per cent and maturing in 2020.
This is the largest ever bond offering by an Indian company in Swiss Francs. Bharat Petroleum Corporation raised 175 million Swiss
Francs by selling five year bonds at 2.98 % coupon rate in February.
Indian Oil
Corporation plans to invest Rs 7650 crore in setting up a petrochemical complex at its almost
complete Paradip refinery in Odhisha
in three to four years. The company board is set to consider the setting up of
a 700000 tonne per annum polypropylene plant at an
estimated cost at Rs.3150 crore.
Global chief
information officers at gathering in Bangalore in April to meet Indian startups
at an event called Tech50 Watchout for Little Eye
Labs-Facebook type deals in the making.
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 Co – operative
Contact No.: 91-44-24545139
LOCATIONS
|
Registered Office : |
101, Centre Point, Opposite Parel Post
Office, Jijibai Lane, Lalbaug,
Mumbai – 400012, Maharashtra, India |
|
Tel. No.: |
91-44-24545139 / 22501663 / 0310 |
|
Fax No.: |
91-44-22501664 |
|
E-Mail : |
|
|
Website : |
DIRECTORS
As on 30.09.2013
|
Name : |
Mr. Hemant Vashi |
|
Designation : |
Director |
|
Address : |
6- D, Sonawala Building, 4th Floor, Tardeo,
Mumbai 400 007 |
|
Date of Birth/Age : |
07.07.1952 |
|
Date of Appointment : |
28.04.1993 |
|
DIN No.: |
00257844 |
|
|
|
|
Name : |
Mr. Shashikant Sheth |
|
Designation : |
Director |
|
Address : |
Oberoi Sky Gardens, AWing,
301 B, 3rd Floor, Plot No. 119, Lokhandwala
Complex, Mumbai 400 053 |
|
Date of Birth/Age : |
11.09.1946 |
|
Date of Appointment : |
11.02.2008 |
|
DIN No.: |
00296865 |
|
|
|
|
Name : |
Mr. Ketan Sheth |
|
Designation : |
Director |
|
Address : |
3, The Beacon, 1st
Floor, Opp. Mantralaya,
140 Madam Cama Road, Mumbai 400 021 |
|
Date of Birth/Age : |
09.06.1967 |
|
Date of Appointment : |
23.02.2007 |
|
DIN No.: |
00298932 |
|
|
|
|
Name : |
Mr. Mahendra Sheth |
|
Designation : |
Director |
|
Address : |
No. 2 Indian
Mercantile Mansion, 24, Madam Cama Road, Mumbai 400
039 |
|
Date of Birth/Age : |
11.12.1941 |
|
Date of Appointment : |
05.02.2007 |
|
DIN No.: |
01274985 |
|
|
|
|
Name : |
Mr. Kishor Sheth |
|
Designation : |
Director |
|
Address : |
The Beacon, Flat
No. 3, 1st Floor, Madam Cama, Road, Mumbai 400 021 |
|
Date of Birth/Age : |
12.11.1938 |
|
Date of Appointment : |
28.04.1993 |
|
DIN No.: |
00257901 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2013
Equity Shares
|
Name of
the Shareholders |
No. of Shares |
|
Kishor
S. Sheth |
16,715 |
|
Chandrika
K. Sheth |
6,245 |
|
Ketan
K. Sheth |
5,715 |
|
Ila S. Sheth |
715 |
|
Shashikant S. Sheth |
15,950 |
|
Mahendra
S. Sheth |
21,715 |
|
Nalini
M. Sheth |
950 |
|
TOTAL |
68,005 |
Preference
Shares
|
Name of the Shareholders |
No. of Shares (4%) |
|
Meso
Private Limited |
31,995 |
|
TOTAL |
31,995 |
As on 30.09.2013
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
|
|
|
Directors or relatives of Directors |
100.00 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacture of Cosmetic and export of perfumes, lotions, shampoos, gels. |
GENERAL INFORMATION
|
No. of Employees : |
Information declined by the management. |
|
|
|
|
Bankers : |
State Bank of India, Overseas Branch, The Arcade, 2nd Floor,
World Trade Centre, Cuffe Parade, Mumbai – 400005, Maharashtra, India |
|
|
|
|
Facilities : |
--- |
|
|
|
|
Banking
Relations : |
--- |
|
|
|
|
Auditors : |
|
|
Name : |
Kamdar Desai and Patel Chartered Accountants |
|
Address : |
Vasaikar House, 296 Cadell
Road, Dadar (West), Mumbai – 400028, Maharashtra, India |
|
PAN No.: |
AAAFK6984H |
CAPITAL STRUCTURE
As on 30.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
50000 |
Equity Shares |
Rs.10/- each |
Rs.0.500 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
100000 |
Equity Shares |
Rs.10/- each |
Rs.10.000 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 |
10.000 |
10.000 |
10.000 |
|
(b) Reserves & Surplus |
(23.256) |
(34.215) |
(45.341) |
|
(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) |
(13.256) |
(24.215) |
(35.341) |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
102.222 |
113.584 |
110.802 |
|
(b) Deferred tax liabilities
(Net) |
0.000 |
0.000 |
0.000 |
|
(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) |
102.222 |
113.584 |
110.802 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade payables |
1.807 |
5.860 |
1.323 |
|
(c) Other current liabilities |
0.139 |
0.519 |
0.130 |
|
(d) Short-term provisions |
0.447 |
0.609 |
0.594 |
|
Total
Current Liabilities (4) |
2.393 |
6.988 |
2.047 |
|
|
|
|
|
|
TOTAL |
91.359 |
96.357 |
77.508 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i)
Tangible assets |
24.977 |
29.361 |
32.858 |
|
(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 |
1.434 |
1.434 |
1.354 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
26.411 |
30.795 |
34.212 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
28.377 |
27.454 |
29.443 |
|
(b) Inventories |
0.000 |
0.000 |
0.058 |
|
(c) Trade receivables |
13.394 |
17.764 |
3.676 |
|
(d) Cash and cash equivalents |
20.189 |
15.595 |
5.594 |
|
(e) Short-term loans and
advances |
0.048 |
2.554 |
3.003 |
|
(f) Other current assets |
2.940 |
2.195 |
1.522 |
|
Total
Current Assets |
64.948 |
65.562 |
43.296 |
|
|
|
|
|
|
TOTAL |
91.359 |
96.357 |
77.508 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
SALES |
|
|
|
|
|
Income |
45.506 |
39.869 |
23.067 |
|
|
Other Income |
4.136 |
3.216 |
2.595 |
|
|
TOTAL
|
49.642 |
43.085 |
25.662 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
14.545 |
4.739 |
15.144 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
0.000 |
0.000 |
1.061 |
|
|
Employees benefits expense |
8.612 |
10.502 |
8.273 |
|
|
Other Administrative expenses |
11.281 |
11.873 |
10.802 |
|
|
TOTAL
|
34.438 |
27.114 |
35.280 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
15.204 |
15.971 |
(9.618) |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION (F) |
4.247 |
4.846 |
4.919 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F) (G) |
10.957 |
11.125 |
(14.537) |
|
|
|
|
|
|
|
Less |
TAX
(I) |
0.000 |
0.000 |
0.006 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-I)
(J) |
10.957 |
11.125 |
(14.543) |
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD (K) |
(34.215) |
(45.340) |
(30.798) |
|
|
|
|
|
|
|
|
Balance
Carried to the B/S (J+K+L-M) |
(23.258) |
(34.215) |
(45.341) |
|
|
|
|
|
|
|
|
EARNINGS
IN FOREIGN CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
30.825 |
14.158 |
0.000 |
|
|
TOTAL
EARNINGS |
30.825 |
14.158 |
0.000 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
109.570 |
111.250 |
(145.430) |
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
22.07
|
25.82 |
(56.67) |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
24.08
|
27.90 |
(63.02) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
11.99
|
11.55 |
(18.76) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.83)
|
(0.46) |
0.41 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
(7.71)
|
(4.69) |
(3.14) |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
27.14
|
9.38 |
21.15 |
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 |
10.000 |
10.000 |
10.000 |
|
Reserves & Surplus |
(45.341) |
(34.215) |
(23.256) |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
(35.341) |
(24.215) |
(13.256) |
|
|
|
|
|
|
long-term borrowings |
110.802 |
113.584 |
102.222 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Total
borrowings |
110.802 |
113.584 |
102.222 |
|
Debt/Equity
ratio |
(3.135) |
(4.691) |
(7.711) |
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) |
|
Sales |
23.067 |
39.869 |
45.506 |
|
|
|
72.840 |
14.139 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(INR
in Mlns) |
(INR
in Mlns) |
(INR
in Mlns) |
|
Sales |
23.067 |
39.869 |
45.506 |
|
Profit After Tax |
(14.543) |
11.125 |
10.957 |
|
|
(63.05%) |
27.90% |
24.08% |
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 |
No |
|
10] |
Designation
of contact person |
No |
|
11] |
Turnover of
firm for last three years |
Yes |
|
12] |
Profitability
for last three years |
Yes |
|
13] |
Reasons for
variation <> 20% |
No |
|
14] |
Estimation
for coming financial year |
No |
|
15] |
Capital in
the business |
Yes |
|
16] |
Details of
sister concerns |
No |
|
17] |
Major
suppliers |
No |
|
18] |
Major
customers |
No |
|
19] |
Payments
terms |
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 |
No |
|
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 |
|
|
|
Loan from related parties |
102.222 |
113.584 |
|
|
|
|
|
Total |
102.222 |
113.584 |
OPERATIONS:
During the financial year the Company has started manufacturing “Private
Label” for parties located in the Middle East and Far East Asia and hopes to grow
this business further.
The Company’s R and D unit has been shifted from Chennai to Ahmadabad and will continue to cater to new product
development and contractual research work.
NOTE :
The registered office of the company has been
shifted from D-7, 2nd Floor, Guindy
Industrial Estate, Chennai – 600032, Tamil Nadu to
the present address 14.06.2013.
FIXED ASSETS
·
Factory Building
·
Plant and Machinery
·
Weighing Scales
·
Air Conditioner
·
Office Equipments
·
Laboratory Equipments
·
Computer
·
Motor Car
·
Scooter / Mopeds
·
Furniture and Fixtures
·
Electric Fittings
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 records 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.61.07 |
|
|
1 |
Rs.102.77 |
|
Euro |
1 |
Rs.84.49 |
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 |
1 |
|
OPERATING SCALE |
1~10 |
2 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
2 |
|
--PROFITABILIRY |
1~10 |
2 |
|
--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 |
NO |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
14 |
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.