MIRA
INFORM REPORT
|
Report Date : |
05.08.2014 |
IDENTIFICATION DETAILS
|
Name : |
CLASSIC
CONCEPTS HOME INDIA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
VI/565, Industrial
Development Area, Binanipuram P O, Edayar, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
06.04.2004 |
|
|
|
|
Com. Reg. No.: |
09-017024 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.0.150
million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U51393KL2004PTC017024 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject is primarily engaged in manufacture and export of floor
coverings made of natural fibre such as wool, cotton etc. and home textiles
such as made-ups, quilted and non-quilted beddings, pillows, drapes,
curtains, etc. |
|
|
|
|
No. of Employees
: |
250 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (32) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 43000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an
established company having moderate track record. The company has taken
huge external borrowing, which acts as threatening to the liquidity position
of the company. However, trade
relations are fair. Business is active. Payments are reported to be 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 – June 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
|
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
NEWS
As per the latest IMF study, the total weigh of emerging markets in the
GDP of the world on a purchasing power parity basis has seen a sizeable shift. It
highlights how as against 51 % in 2005, the emerging economies now account for
close to 56 % of the global purchasing power GDP as per the latest survey. And
with the emerging economies growing at a faster rate than their developed
counterparts, there are every possibility that the share goes up further in the
coming years.
Politics and economics are very intricately connected. They tend to
influence each other in ways that could be very complex and far-reaching. The
prospects of the
A study published by Firstpost has revealed that asset classes like real
estate and equities were the biggest beneficiaries of the liberalization
policies. A firm called Ciane Analytics studied returns from assets
including equities, gold, fixed deposits, G-Secs and real estate since 1991.
Real estate outperformed every other asset classes during the 23-year period
with an annualized return of 20%! Equities came in second with annualized
return of 15.5%! However, while these returns may seem mouthwatering, the fact
is that the return from equities adjusted for inflation came down to just 7.1
%.
Some brief news are as under
. R-Power to buy Jaypee’s hydro assets
. Investors await justice in NSEL case
.
. Ukrain’s clashes with rebels hinder MH17 crash investigation
.
..Higher costs weigh down profit growth to slowest in 9 quarters
..Wal-Mart to expand wholesale business in
. GMR group moves to strengthen balance sheet
. Central Bank to sell 4 % stake to Life Insurance Corporation
. Tata Chemicals plans to raise up to Rs.10000 mn.
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
31-03-2014.
INFORMATION PARTED BY
|
Name : |
Mr. Vinod Kumar Singh |
|
Designation : |
Factory Manager/ HR Department |
|
Contact No.: |
91-120-4511700 |
|
Date : |
02.08.2014 |
LOCATIONS
|
Registered Office : |
VI/565, Industrial
Development Area, Binanipuram P O, Edayar, |
|
Tel. No.: |
91-484-2413046 |
|
Mobile No.: |
91-9810457987 (Mr. Harinder Singh) |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
|
|
|
|
Factory : |
No.C-54, Hosiery Complex, Phase-II, Noida – 201 305, |
|
Tel. No.: |
91-120-4511700 |
|
Fax No.: |
91-120-4511722 |
DIRECTORS
AS ON 16.07.2013
|
Name : |
Mr. Harpal Jaidev Singh |
|||||||||||||||||||||||||||
|
Designation : |
Director |
|||||||||||||||||||||||||||
|
Address : |
455, Live Oak Ne, |
|||||||||||||||||||||||||||
|
Date of Birth/Age : |
11.03.1961 |
|||||||||||||||||||||||||||
|
Date of Appointment : |
06.04.2004 |
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DIN No.: |
00955251 |
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|
Other Directorship:
|
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|
|||||||||||||||||||||||||||
|
Name : |
Mr. Jaidev Karam Singh |
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|
Designation : |
Director |
|||||||||||||||||||||||||||
|
Address : |
8/196, Rajinder Nagar, Sector-111, Sahirabad, Ghaziabad – 201 001,
Uttar Pradesh, India |
|||||||||||||||||||||||||||
|
Date of Birth/Age : |
28.03.1934 |
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|
Date of Appointment : |
06.04.2004 |
|||||||||||||||||||||||||||
|
DIN No.: |
01309942 |
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|
Other Directorship:
|
||||||||||||||||||||||||||||
KEY EXECUTIVES
|
Name : |
Mr. Vinod Kumar Singh |
|
Designation : |
Factory Manager/ HR Department |
|
|
|
|
Name : |
Mr. Harinder Singh |
|
Designation : |
Head (Marketing and Sales) |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 16.07.2013
|
Names of Shareholders |
|
No. of Shares |
|
Harpal Jaidev Singh |
|
5000 |
|
Jaidev Karam Singh |
|
5000 |
|
Classic Concepts Inc., USA |
|
5000 |
|
Total
|
|
15000 |
AS ON 16.07.2013
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
33.00 |
|
Directors
or relatives of directors |
|
67.00 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is primarily engaged in manufacture and export of floor
coverings made of natural fibre such as wool, cotton etc. and home textiles
such as made-ups, quilted and non-quilted beddings, pillows, drapes,
curtains, etc. |
|
|
|
|
Products : |
· Printed Throws · Curtains · Bedding Set · Pillow and Covers · Rugs and Mats |
|
|
|
|
Exports : |
|
|
Products : |
·
Finished Goods |
|
Countries : |
·
USA ·
European Countries |
|
|
|
|
Terms : |
|
|
Selling : |
Cash and Advance Payment |
|
|
|
|
Purchasing : |
Cash, Advance Payment and Depend |
GENERAL INFORMATION
|
Customers : |
Wholesalers and Retailers |
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|
|||||||||||||||
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No. of Employees : |
250 (Approximately) |
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|
|
|
|||||||||||||||
|
Bankers : |
·
HDFC Bank Limited, Choice Towers, Manorama Junction, Kochi – 682 016,
Kerala, India ·
Punjab National Bank ·
ICICI Bank Limited ·
State Bank of India ·
South Indian Bank ·
Axis Bank Limited |
|||||||||||||||
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|
|
|||||||||||||||
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Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Isaac and Suresh Chartered Accountants |
|
Address : |
XXVII/299, GCDA Shopping Complex, First Floor, Panampilly Nagar, Kochi
– 682 036, Kerala, India |
|
PAN No.: |
AAAFI6534P |
CAPITAL STRUCTURE
AS ON 16.07.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
100000 |
Equity Shares |
Rs.10/- each |
Rs.1.000 million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
15000 |
Equity Shares |
Rs.10/- each
|
Rs.0.150
million |
|
|
|
|
|
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 |
0.150 |
0.150 |
0.150 |
|
(b) Reserves & Surplus |
10.532 |
8.837 |
7.313 |
|
(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) |
10.682 |
8.987 |
7.463 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) Long-term borrowings |
13.678 |
23.207 |
18.195 |
|
(b) Deferred tax liabilities (Net) |
0.412 |
0.487 |
1.385 |
|
(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) |
14.090 |
23.694 |
19.580 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
79.455 |
29.568 |
29.568 |
|
(b)
Trade payables |
25.687 |
18.569 |
23.418 |
|
(c)
Other current liabilities |
0.732 |
1.751 |
2.359 |
|
(d) Short-term provisions |
1.602 |
0.533 |
0.245 |
|
Total Current
Liabilities (4) |
107.476 |
50.421 |
55.590 |
|
|
|
|
|
|
TOTAL |
132.248 |
83.102 |
82.633 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i)
Tangible assets |
29.365 |
33.279 |
30.082 |
|
(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 |
0.000 |
0.000 |
0.000 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
29.365 |
33.279 |
30.082 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
21.049 |
24.344 |
26.618 |
|
(c)
Trade receivables |
14.282 |
4.684 |
5.256 |
|
(d) Cash
and cash equivalents |
25.154 |
5.359 |
5.082 |
|
(e)
Short-term loans and advances |
41.725 |
14.538 |
14.472 |
|
(f)
Other current assets |
0.673 |
0.898 |
1.123 |
|
Total
Current Assets |
102.883 |
49.823 |
52.551 |
|
|
|
|
|
|
TOTAL |
132.248 |
83.102 |
82.633 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
350.000 (Approximately) |
142.995 |
74.109 |
|
|
|
Other Income |
NA |
5.064 |
11.809 |
|
|
|
Increase
in stock |
NA |
(2.534) |
7.527 |
|
|
|
TOTAL (A) |
NA |
145.525 |
93.445 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
138.745 |
87.134 |
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL (B) |
NA |
138.745 |
87.134 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
NA |
6.780 |
6.311 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
NA |
1.218 |
1.162 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D)
(E) |
NA |
5.562 |
5.149 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
NA |
4.340 |
4.575 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
2.894 |
1.222 |
0.574 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
1.199 |
(0.302) |
1.029 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
1.695 |
1.524 |
(0.455) |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
FOB
Value of Export |
167.950 |
142.912 |
NA |
|
|
TOTAL EARNINGS |
167.950 |
142.912 |
NA |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
113.00 |
101.60 |
NA |
|
|
Particulars |
|
|
31.03.2014 |
|
Sales Turnover (Approximately) |
|
|
500.000 |
|
|
|
|
|
The above information has been parted by Mr. Vinod Kumar Singh (Factory
Manager/ HR Department).
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
NA |
1.05 |
(0.49) |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
NA |
0.85 |
0.77 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.19 |
1.47 |
0.69 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.27 |
0.14 |
0.08 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
8.72 |
5.87 |
6.40 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.96 |
0.99 |
0.95 |
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 |
0.150 |
0.150 |
0.150 |
|
Reserves & Surplus |
7.313 |
8.837 |
10.532 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net worth |
7.463 |
8.987 |
10.682 |
|
|
|
|
|
|
Long-term borrowings |
18.195 |
23.207 |
13.678 |
|
Short term borrowings |
29.568 |
29.568 |
79.455 |
|
Total borrowings |
47.763 |
52.775 |
93.133 |
|
Debt/Equity ratio |
6.400 |
5.872 |
8.719 |
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 |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister concerns |
No |
|
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] |
PAN of Proprietor/Partner/Director, if available |
No |
|
32] |
Date
of Birth 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 |
INDEX OF CHARGES:
|
S. No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number
(SRN) |
|
1 |
10189335 |
03/06/2008 |
19,000,000.00 |
HDFC BANK LIMITED |
CHOICE TOWERS, MANORAMA
JUNCTION, COCHIN, KERALA |
A42610899 |
|
Unsecured Loans |
31.03.2013 (Rs. in Millions) |
31.03.2012 (Rs. in Millions) |
|
LONG TERM BORROWINGS |
|
|
|
Loans and advances from related parties |
|
|
|
- Classic
Concepts Inc. |
0.000 |
5.543 |
|
- Loan from Directors
|
4.000 |
4.000 |
|
- Sun Art
Exporters |
4.410 |
1.310 |
|
SHORT TERM BORROWINGS |
|
|
|
Loans and advances from related parties |
|
|
|
- Classic
Concepts Inc. |
29.568 |
29.568 |
|
- Harpal Singh |
49.887 |
0.000 |
|
Total |
87.865 |
40.421 |
Note:
The registered office of the company has been shifted from VII/371-A6, 1st Floor, Tranquil Towers, Irumpanam Kalamassery
Road, Opposite Civil Station, Kakkanad, Eranakulam – 682 030, Kerala to the
present address w.e.f. 09.06.2008.
FIXED ASSETS:
·
Furniture
and Fixtures
·
Plant
and Machinery
·
Computer
·
Building
·
Electrical
Fitting
·
Printer
·
Motor
Car - Innova
·
Land
·
Camera
·
Cycle
·
Fire
Safety Cylinders
·
Generator
·
Invertor
·
Mobile
Phone
·
Needle
Detector
·
R
O System
·
Submersible
Pump
·
Transformer
160kva
·
Office
Equipment
·
Washing
Machine
·
Water
Tank
·
Grey
Scale Mirzapur
·
Air
Conditioner
·
Refrigerator
·
Water
Cooler
·
Car
·
Vessel
(Aluminiyam)
·
Tools
·
Civil
Construction Dye House
·
Fire
Fighting Equipment
·
Attendance
machine
·
Computer
Software
·
Motor
(Submersible)
·
UPS
·
Chimmini
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.61.02 |
|
|
1 |
Rs.102.69 |
|
Euro |
1 |
Rs.81.91 |
INFORMATION DETAILS
|
Information Gathered
by : |
PDT |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
SMN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
4 |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
32 |
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.