MIRA
INFORM REPORT
|
Report Date : |
12.12.2014 |
IDENTIFICATION DETAILS
|
Name : |
JESONS INDUSTRIES
LIMITED |
|
|
|
|
Registered
Office : |
904, Peninsula Tower No. 1, Ganpat Rao Kadam Marg, Lower Parel (West),
Mumbai – 400 013, |
|
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|
|
Country : |
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|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
12.10.1999 |
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|
|
|
Com. Reg. No.: |
11-122193 |
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|
Capital
Investment / Paid-up Capital : |
Rs.89.352
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24295MH1999PLC122193 |
|
|
|
|
IEC No.: |
Not Divulged |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMJ06269E |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACJ7659P |
|
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|
Legal Form : |
A Closely Held Public Limited Liability Company |
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|
Line of Business
: |
Manufacturer of
Synthetic Adhesives, Vinyl Acetate and Acrylic Emulsions. |
|
|
|
|
No. of Employees
: |
700 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (43) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having satisfactory track record. There seems a significant growth in the company profit during FY.2014
General financial position of the company is normal and acceptable for
business dealings. Trade relations are reported as fair. Business is active. Payment
terms are reported to be slow but correct. The company can be considered normal for business dealings at usual
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.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
BB+ (Long Term Bank Facilities) |
|
Rating Explanation |
Moderate risk of default. |
|
Date |
24.08 2014 |
|
Rating Agency Name |
CARE |
|
Rating |
A4+ (Short Term Bank Facilities) |
|
Rating Explanation |
Minimal degree of safety and carry very high
credit risk. |
|
Date |
24.08 2014 |
RBI DEFAULTER’ LIST STATUS
Subject’s name is not enlisted as a defaulter in
the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTER’ 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 DENIED BY
Management Non Co – Operative (Tel No. 91-22-66515253)
LOCATIONS
|
Registered Office/ Head Office : |
904, Peninsula Tower No. 1, Ganpat Rao Kadam Marg, Lower Parel (West),
Mumbai – 400 013, Maharashtra, India |
|
Tel. No.: |
91-22-66515253 / 66515226 |
|
Fax No.: |
91-22-66515252 |
|
E-Mail : |
|
|
Website : |
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|
Area: |
5000 Sq. ft. |
|
Location : |
Owned |
|
|
|
|
Factory : |
Survey No. 377/1/7, |
DIRECTORS
As on: 30.09.2014
|
Name : |
Mr. Dhiresh Shashikant Gosalia |
|
Designation : |
Managing Director |
|
Address : |
131 Spenta Tower, 13th Floor, |
|
Date of Birth/Age : |
06.01.1962 |
|
Qualification : |
B.SC ,Diploma In Textile Chemistry, Business Management |
|
Date of Appointment : |
12.10.1999 |
|
DIN No.: |
00217158 |
|
PAN No.: |
AAIPG5800G |
|
|
|
|
Name : |
Mr. Raju Vinod Palvia |
|
Designation : |
Director |
|
Address : |
Shramdan Building, 209/11, 3rd Floor, Opposite SION Hospital, SION (East), Mumbai - 400022, Maharashtra, India |
|
Date of Appointment : |
01.04.2013 |
|
DIN No.: |
06538252 |
|
|
|
|
Name : |
Mr. Shreyas Mahendra Patel |
|
Designation : |
Director |
|
Address : |
12, Mount Unique, 62, A, Pedder Road, Mumbai – 400026, Maharashtra,
India |
|
Date of Appointment : |
28.08.2014 |
|
DIN No.: |
00112370 |
|
|
|
|
Name : |
Alyza Nihar Sanghai |
|
Designation : |
Director |
|
Address : |
52, Neelamber Co-Op. Hsg.Soc.Ltd., 37, Pedder Road, Mumbai, 400024,
Maharashtra, India |
|
Date of Appointment : |
28.08.2014 |
|
DIN No.: |
06958628 |
|
|
|
|
Name : |
Ms. Jyoti Himanshu Doshi |
|
Designation : |
Director |
|
Address : |
Karma Kshetra, D-2, Flat No. 145, 14th Floor, Sion (East),
Mumbai – 400037, Maharashtra, India |
|
Date of Appointment : |
28.08.2014 |
|
DIN No.: |
06958724 |
KEY EXECUTIVES
|
Name : |
Ms. Priyanka Kailash Khandelwal |
|
Designation : |
Secretary |
|
Address : |
402, Bhagwan Bhawan, Jb Nagar, Andheri East, Mumbai – 400059,
Maharashtra, India |
|
PAN No.: |
AYEPK5544P |
|
Date of Appointment : |
05.09.2014 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 30.09.2013
|
Names of Shareholders |
No. of Shares |
|
Dhiresh Gosalia |
733424 |
|
Madhavi D Gosalia |
70100 |
|
Usha S Gosalia |
64596 |
|
Hemal M Kampani |
100 |
|
Kiran V Daftary |
100 |
|
Rajesh D Mody |
100 |
|
Raveena D Gosalia |
25000 |
|
Madhusudan Mehta |
100 |
|
Total |
893520 |
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Synthetic
Adhesives, Vinyl Acetate and Acrylic Emulsions. |
|
|
|
|
Products : |
Not Divulged |
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Brand Names : |
Not Divulged |
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Agencies Held : |
Not Divulged |
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Exports : |
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Products : |
Not Divulged |
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Countries : |
Not Divulged |
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Imports : |
|
|
Products : |
Not Divulged |
|
Countries : |
Not Divulged |
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Terms : |
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Selling : |
Not Divulged |
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Purchasing : |
Not Divulged |
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
700 (Approximately) |
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Bankers : |
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Facilities : |
(Rs.
In Millions)
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
R. Trivedi and
Associates Chartered
Accountants |
|
Address : |
119, Ground
Floor, G-Block, Ranjit Studio, Dadasaheb Palke Road, Dadar, Mumbai-400014,
Maharashtra, India |
|
Tel. No.: |
91-22-24140957 |
|
PAN No.: |
AADPT8670Q |
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|
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Memberships : |
-- |
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|
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Collaborators : |
-- |
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Subsidiaries Company : |
Jesons Industries Nepal Private Limited |
CAPITAL STRUCTURE
As on: 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1,500,000 |
Equity Shares |
Rs.100/- each |
Rs.150.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
893,520 |
Equity Shares |
Rs.100/-
each |
Rs.89.352
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions].
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
89.352 |
89.352 |
89.352 |
|
(b) Reserves & Surplus |
419.813 |
339.410 |
327.427 |
|
(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) |
509.165 |
428.762 |
416.779 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
11.590 |
34.981 |
107.152 |
|
(b) Deferred tax liabilities (Net) |
8.534 |
6.179 |
5.845 |
|
(c) Other long term liabilities |
2.443 |
2.443 |
2.443 |
|
(d) long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current Liabilities (3) |
22.567 |
43.603 |
115.440 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
487.603 |
684.323 |
385.567 |
|
(b) Trade payables |
852.280 |
551.352 |
650.354 |
|
(c) Other current
liabilities |
76.050 |
81.857 |
37.028 |
|
(d) Short-term provisions |
15.132 |
9.469 |
29.865 |
|
Total Current Liabilities (4) |
1431.065 |
1327.001 |
1102.814 |
|
|
|
|
|
|
TOTAL |
1962.797 |
1799.366 |
1635.033 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
210.558 |
216.731 |
208.980 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
12.909 |
2.763 |
19.543 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
10.533 |
1.803 |
1.803 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
5.415 |
3.428 |
2.550 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
239.415 |
224.725 |
232.876 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
392.770 |
450.874 |
312.160 |
|
(c) Trade receivables |
909.551 |
601.681 |
640.905 |
|
(d) Cash and cash
equivalents |
67.584 |
113.924 |
109.565 |
|
(e) Short-term loans and
advances |
353.477 |
408.162 |
339.361 |
|
(f) Other current assets |
0.000 |
0.000 |
0.166 |
|
Total Current Assets |
1723.382 |
1574.641 |
1402.157 |
|
|
|
|
|
|
TOTAL |
1962.797 |
1799.366 |
1635.033 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
4944.514 |
4406.376 |
4107.874 |
|
|
|
Other Income |
17.199 |
12.456 |
11.942 |
|
|
|
TOTAL |
4961.713 |
4418.832 |
4119.816 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
4517.404 |
3690.323 |
3443.440 |
|
|
|
Changes in inventories of finished goods, work-in-progress and stock-in-trade |
(19.603) |
(10.909) |
(34.969) |
|
|
|
Employee benefit expense |
83.909 |
79.114 |
56.680 |
|
|
|
Other expenses |
182.849 |
562.137 |
483.992 |
|
|
|
TOTAL |
4764.559 |
3949.143 |
3826.338 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
197.154 |
98.167 |
170.673 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
84.942 |
55.289 |
47.195 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
112.212 |
42.878 |
123.478 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
27.320 |
28.314 |
26.927 |
|
|
|
|
|
|
|
|
|
Add/ |
EXTRAORDINARY
ITEMS |
8.730 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
93.622 |
14.564 |
96.551 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
13.218 |
2.581 |
23.801 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
80.404 |
11.983 |
72.750 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
89.99 |
13.41 |
81.42 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin PAT / Sales |
(%) |
1.63 |
0.27 |
1.77 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/ Sales) |
(%) |
3.99 |
2.23 |
4.15 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
4.83 |
0.81 |
5.98 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.18 |
0.03 |
0.23 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.98 |
1.68 |
1.18 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.20 |
1.19 |
1.27 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Share Capital |
89.352 |
89.352 |
89.352 |
|
Reserves & Surplus |
327.427 |
339.410 |
419.813 |
|
Net
worth |
416.779 |
428.762 |
509.165 |
|
|
|
|
|
|
long-term borrowings |
107.152 |
34.981 |
11.590 |
|
Short term borrowings |
385.567 |
684.323 |
487.603 |
|
Total
borrowings |
492.719 |
719.304 |
499.193 |
|
Debt/Equity
ratio |
1.182 |
1.678 |
0.980 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
4107.874 |
4406.376 |
4944.514 |
|
|
|
7.267 |
12.213 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
4107.874 |
4406.376 |
4944.514 |
|
Profit |
72.750 |
11.983 |
80.404 |
|
|
1.77% |
0.27% |
1.63% |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES
OF LONG-TERM DEBT = NOT AVAILABLE
|
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 |
Yes |
|
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 |
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% |
---------------------- |
|
14] |
Estimation for coming financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details (if applicable) |
No |
|
21] |
Market information |
---------------------- |
|
22] |
Litigations that the firm / promoter involved in |
---------------------- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking account |
---------------------- |
|
26] |
Buyer visit details |
---------------------- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if applicable |
Yes |
|
29] |
Last accounts filed at ROC |
Yes |
|
30] |
Major Shareholders, if available |
Yes |
|
31] |
Date of Birth of Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of Proprietor/Partner/Director, if available |
Yes |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
Yes |
REVIEW OF OPERATIONS:
The Company has registered a record performance over previous year, despite challenging macro-economic conditions, high inflation, depreciation in Indian Currency against major currencies and negative business sentiments prevailing throughout the year and across the industry. Thanks to the sustained drive and team efforts of the entire organization, performance remained high on agenda. This resulted into unprecedented record sales growth throughout the year. The performance in terms of net working capital was affected by higher inventory and the profitability is impacted by inflation led cost push in most of the operating areas.
Spite of challenging conditions, the Company, based on its intrinsic strength, has broadly maintained its performance in terms of sales and profit growth over previous year.
The Company registered sales of Rs.4944.500 Million as compared to Rs.4020.700 Million, growth of 22.98%. Out of the total sales revenue of the Company for the year 16.86% is contributed by exports versus 14 64% in the previous year.
The Company remains focused to improve its core business and look for higher market share in the business segments in which it operates.
FUTURE OUTLOOK
The Financial Year 2013-14 saw the Indian economy struggling with slow growth. Increased pressure from inflation added to the overall gloominess in a year saw the rupee falling to its lifetime low level against the US dollar and the current account deficit soaring to its historic high. GDP growth rate during the year slipped to less than 5%. Indian manufacturing sector is facing challenging times and largely concerned with increasing cost pressures, declining domestic demand, foreign exchange volatility and political uncertainty.
In spite of gloomy scenarios, industries are cautiously optimistic about the future growth prospects and working towards new products, innovative services, application developments, facilities expansion and most importantly, understanding the customer preferences and demands and fostering long term profitable relationship with customers.
India is one of the fastest growing economies in the world. This will create the huge demand of Jesons Products. Due to large scale construction activity in India, this means increased demand for paint emulsions manufactured by Jesons.
The Company also plans to set up a new manufacturing facility at South India for addressing the additional capacity requirements. The selection criteria would be based proximity to the Port for import of Raw Materials and nearness to the Customers for Just-In-Time supplies.
The Company has recently participated in National & International Exhibitions viz. Paint India, 2014 (6th March to 8th March, 2014), Dubai Coating Show (10th March to 12th March, 2014) and American Coating Show (8th April to 12th April, 2014). The Company is very optimistic to trigger the USA and Europe market in the years to come.
UNSECURED LOAN
(Rs.
In Millions)
|
Particular |
As
on 31.03.2014 |
As
on 31.03.2013 |
|
Short Term
Borrowing |
|
|
|
Loans and advances from related parties |
0.000 |
0.164 |
|
Other Loans and Advances |
229.190 |
351.268 |
|
Total |
229.190 |
351.432 |
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10187219 |
06/04/2012 * |
1,759,600,000.00 |
CENTRAL BANK OF INDIA |
M. G. Road,, Fort, Mumbai, Maharashtra - 400023, |
B40439036 |
* Date of charge modification
FIXED ASSETS
· Land
· Buildings
· Plant and Equipment
· Furniture and Fixtures
· Vehicles
· Office Equipment
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.62.20 |
|
|
1 |
Rs.97.80 |
|
Euro |
1 |
Rs.77.48 |
INFORMATION DETAILS
|
Information Gathered
by : |
HTL |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
SPR |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--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 |
No |
|
--AFFILIATION |
YES/NO |
Yes |
|
--LISTED |
YES/NO |
No |
|
--OTHER MERIT FACTORS |
YES/NO |
Yes |
|
DEFAULTER |
|
|
|
RBI |
YES/NO |
No |
|
EPF |
YES/NO |
No |
|
TOTAL |
|
43 |
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.