MIRA INFORM REPORT
|
Report Date : |
24.12.2014 |
IDENTIFICATION DETAILS
|
Name : |
J K ANSELL LIMITED |
|
|
|
|
Registered
Office : |
Plot No. G-35 and 36, MIDC Waluj, Taluka Gangapur, |
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|
Country : |
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|
|
|
|
Financials (as
on) : |
31.03.2014 |
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|
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Date of
Incorporation : |
28.06.1996 |
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|
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Com. Reg. No.: |
11-100697 |
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|
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Capital
Investment / Paid-up Capital : |
Rs.20.000 Millions |
|
|
|
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CIN No.: [Company Identification
No.] |
U25199MH1996PLC100697 |
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|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
AAACJ7708F |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Manufacturer of Body Deodorant, Rubber Contraceptives Male Condoms,
Surgical Gloves. |
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No. of Employees
: |
500 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (54) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is well-established company having fine track record. The rating reflects company’s healthy financial risk profile marked by
adequate liquidity position and decent profitability levels of the company. Trade relations are reported as fair. Business is active. Payments are
reported to be regular and as per commitment. The company can be considered good for normal 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.
ECGC Country Risk Classification List – September 30, 2014
|
Country Name |
Previous Rating (30.06.2014) |
Current Rating (30.09.2014) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
Not Available |
|
Rating |
Not Available |
|
Rating Explanation |
Not Available |
|
Date |
Not Available |
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. Jatin Doshi |
|
Designation : |
Accounts Department |
|
Contact No.: |
91-22-61527726/ 7710 |
|
Date : |
23.12.2014 |
LOCATIONS
|
Registered Office/ Factory : |
Plot No. G-35 and 36, MIDC Waluj, Taluka Gangapur, |
|
Tel. No.: |
91-240-554291 |
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Fax No.: |
91-240-550443 |
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E-Mail : |
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Website : |
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Corporate Office : |
Raymond Complex, |
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Tel. No.: |
91-22-61527726/ 7710 |
DIRECTORS
As on 23.09.2014
|
Name : |
Dr. Vijaypat Singhania |
|
Designation : |
Chairman cum Managing Director |
|
Address : |
J. K. House, 59A, |
|
Date of Birth/Age : |
04.10.1938 |
|
Date of Appointment : |
08.10.1997 |
|
DIN No.: |
00020063 |
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|
|
|
Name : |
Mr. Gautam Hari Singhania |
|
Designation : |
Director |
|
Address : |
J. K. House, 59A, Bhulabhai Desai Road, Mumbai – 400026, Maharashtra,
India |
|
Date of Birth/Age : |
09.09.1965 |
|
Date of Appointment : |
08.10.1997 |
|
DIN No.: |
00020088 |
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|
|
|
Name : |
Mr. Aniruddha Prabhakar Deshmukh |
|
Designation : |
Director |
|
Address : |
2/102, Shamishtha, Tarngan Towers, Near Korum Mall/ Cadbury Factory,
Shaheed Mangal Pandey Road, Thane (West), Thane – 400606, Maharashtra, India |
|
Date of Birth/Age : |
24.04.1958 |
|
Date of Appointment : |
09.07.2013 |
|
DIN No.: |
01389267 |
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|
|
|
Name : |
Mr. Senthil Kumar |
|
Designation : |
Director appointed in ca24.03.1956sual vacancy |
|
Address : |
103, Roshni Enclave, 12 Main Puttenahalli, JP Nagar, 7 Phase, South,
Bangalore – 560078, Karnataka, India |
|
Date of Birth/Age : |
10.09.1969 |
|
Date of Appointment : |
22.09.2014 |
|
DIN No.: |
06915775 |
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|
|
Name : |
Mr. Petrus Dobbelsteign |
|
Designation : |
Director appointed in casual vacancy |
|
Address : |
Op De Pas 1, Susteren 6114RA |
|
Date of Birth/Age : |
19.04.1967 |
|
Date of Appointment : |
22.09.2014 |
|
DIN No.: |
06933923 |
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|
|
|
Name : |
Mr. Chris Kalaitzis |
|
Designation : |
Director |
|
Address : |
25, Poathroad VIC Murrumbena Australia 3163 |
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Date of Birth/Age : |
26.06.1969 |
|
Date of Appointment : |
09.07.2013 |
|
DIN No.: |
05236377 |
KEY EXECUTIVES
|
Name : |
Mr. Jatin Doshi |
|
Designation : |
Accounts Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 23.09.2014
|
Name of
Shareholders |
|
No of
Shares |
|
|
|
|
|
J K Investo Trade (India) Limited, India |
|
999950 |
|
Pacific Dunlop (Singapore) Pte Limited, Singapore |
|
1000000 |
|
J K Investo Trade (India) Limited, India Jointly with Hariharan Sunder |
|
10 |
|
J K Investo Trade (India) Limited, India Jointly with Ganeriwala Ramkaran |
|
10 |
|
J K Investo Trade (India) Limited, India Jointly with Darwani Mukesh |
|
10 |
|
J K Investo Trade (India) Limited, India Jointly with Pimprikar Sunil |
|
10 |
|
J K Investo Trade (India) Limited, India Jointly with Deshmukh P. Aniruddha |
|
10 |
|
|
|
|
|
Total
|
|
2000000 |
Equity Share Break up (Percentage of Total Equity)
As on 23.09.2014
|
Category |
Percentage |
|
Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s),
Non-resident Indian(s) or Overseas Corporate bodies or Others |
50.00 |
|
Bodies corporate |
50.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Body Deodorant, Rubber Contraceptives Male Condoms,
Surgical Gloves. |
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Products : |
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Brand Name : |
“KamaSutra” |
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Exports : |
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Products : |
Finished Good |
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Countries : |
· South East Asia · Dubai · Malaysia |
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Imports : |
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Products : |
Raw Materials |
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Countries : |
Sri Lanka |
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Terms : |
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Selling : |
L/C / Cash and Credit |
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Purchasing : |
L/C / Cash and Credit |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
Wholesalers and Retailers
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No. of Employees : |
500 (Approximately) |
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Bankers : |
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Facilities : |
-- |
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
Lodha and Company Chartered Accountants |
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Address : |
6, Karim Chambers, 40 Ambalal Doshi Marg (Hamam Street), Mumbai – 400001, Maharashtra, India |
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PAN N Income-tax PAN of auditor or auditor's firm : |
AABFL1894Q |
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Memberships : |
-- |
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Collaborators : |
-- |
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Related Parties
where control exists : |
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Associate
Enterprises : |
[U85110KA1995PLC019475]
|
CAPITAL STRUCTURE
As on 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3000000 |
Equity Shares |
Rs.10/- each |
Rs.30.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2000000 |
Equity Shares |
Rs.10/- each |
Rs.20.000
Millions |
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|
|
|
|
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 |
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|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
20.000 |
20.000 |
20.000 |
|
(b) Reserves & Surplus |
387.906 |
333.371 |
307.751 |
|
(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) |
407.906 |
353.371 |
327.751 |
|
|
|
|
|
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(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
7.622 |
7.244 |
6.628 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
6.585 |
6.297 |
0.000 |
|
Total
Non-current Liabilities (3) |
14.207 |
13.541 |
6.628 |
|
|
|
|
|
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(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade payables |
170.997 |
134.389 |
106.115 |
|
(c) Other current liabilities |
41.308 |
34.484 |
34.223 |
|
(d) Short-term provisions |
59.405 |
95.344 |
101.079 |
|
Total
Current Liabilities (4) |
271.710 |
264.217 |
241.417 |
|
|
|
|
|
|
TOTAL |
693.823 |
631.129 |
575.796 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
76.810 |
82.536 |
77.395 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital work-in-progress |
0.000 |
0.191 |
0.241 |
|
(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 |
18.755 |
13.897 |
11.928 |
|
(e) Other Non-current assets |
0.642 |
0.607 |
0.971 |
|
Total
Non-Current Assets |
96.207 |
97.231 |
90.535 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
172.992 |
137.906 |
112.365 |
|
(c) Trade receivables |
204.662 |
126.521 |
97.357 |
|
(d) Cash and cash equivalents |
168.056 |
243.321 |
254.670 |
|
(e) Short-term loans and
advances |
46.095 |
18.755 |
14.614 |
|
(f) Other current assets |
5.811 |
7.395 |
6.255 |
|
Total
Current Assets |
597.616 |
533.898 |
485.261 |
|
|
|
|
|
|
TOTAL |
693.823 |
631.129 |
575.796 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Income |
1630.693 |
1444.133 |
1163.471 |
|
|
Other Income |
14.516 |
14.893 |
12.778 |
|
|
TOTAL
(A) |
1645.209 |
1459.026 |
1176.249 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
140.173 |
152.459 |
156.192 |
|
|
Purchases of Stock-in-Trade |
733.486 |
589.086 |
422.800 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(32.586) |
(18.928) |
(30.660) |
|
|
Employees benefits expense |
199.608 |
181.529 |
165.072 |
|
|
Other expenses |
417.578 |
364.991 |
304.961 |
|
|
TOTAL
(B) |
1458.259 |
1269.137 |
1018.365 |
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX, DEPRECIATION
AND AMORTISATION (C) |
186.950 |
189.889 |
157.884 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
2.005 |
1.718 |
1.190 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
184.945 |
188.171 |
156.694 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION (F) |
10.533 |
10.207 |
8.933 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F) (G) |
174.412 |
177.964 |
147.761 |
|
|
|
|
|
|
|
Less |
TAX
(I) |
61.378 |
58.748 |
49.194 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-I)
(J) |
113.034 |
119.216 |
98.567 |
|
|
|
|
|
|
|
|
Balance
Carried to the B/S |
197.300 |
154.200 |
140.600 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
56.52 |
59.61 |
49.78 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
6.93 |
8.26 |
8.47 |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
11.46 |
13.15 |
13.57 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
25.14 |
28.21 |
25.67 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.43 |
0.50 |
0.45 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.20 |
2.02 |
2.01 |
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 |
20.000 |
20.000 |
20.000 |
|
Reserves & Surplus |
307.751 |
333.371 |
387.906 |
|
Net
worth |
327.751 |
353.371 |
407.906 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Total
borrowings |
0.000 |
0.000 |
0.000 |
|
Debt/Equity
ratio |
0.000 |
0.000 |
0.000 |
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 |
1163.471 |
1444.133 |
1630.693 |
|
|
|
24.123 |
12.918 |
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 |
1163.471 |
1444.133 |
1630.693 |
|
Profit |
98.567 |
119.216 |
113.034 |
|
|
8.47% |
8.26% |
6.93% |
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 |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
Yes |
|
20] |
Export / Import details
(if applicable) |
Yes |
|
21] |
Market information |
-- |
|
22] |
Litigations that the firm
/ promoter involved in |
-- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
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 |
INDEX
OF CHARGES: NO CHARGES EXIST FOR COMPANY
PERFORMANCE
The income for the year was Rs. 1645.200 Millions as against Rs. 1459.000 Millions in the previous year. The Company has registered a growth of 12.8% over previous year. The trading business of the Company continued to show good traction and contributed to the growth of the Company. The Medical Glove business registered a growth of 20.5% and the Perfume business grew by 30.7%. The Govt. of India has imposed the Drug Price Control Order on Condoms w.e.f. 20th December, 2013 and accordingly Maximum Retail Price for sale of Condoms have been fixed by the Govt. of India. This is adversely impacting the Gross Margins of the Condoms business. The Company is evaluating measures to lower the impact of the same.
Company has increased its marketing spends during the year which resulted in the strong sales growth. The net profit before tax of the Company was Rs. 174.400 Millions against Rs. 177.900 Millions last year.
BACKGROUND
Subject, a Joint Venture between the Raymond Group, India and Ansell Limited, Australiawas incorporated on June 28, 1996. The principal shareholders of the Company are M/s J K .Investo Trade (India) Limited (50%) and Pacific Dunlop Holdings (Singapore) Pte. Limited (a subsidiary of Ansell Limited, Australia) (50%). Company is engaged in sexual wellness and medical gloves business.
CONTINGENT
LIABILITIES
(Rs. In Millions)
|
Particulars |
31.03.2014 |
|
Claims against the company not acknowledged as debt |
|
|
Sales Tax |
0.976 |
|
Custom Duty ( Recoverable from Joint Venture Partner) |
0.400 |
|
Other money for which the company is contingently liable Claim by ex employees |
0.472 |
FIXED ASSETS
Tangible assets
- Land
- Buildings
- Plant and equipment
- Furniture and fixtures
- Vehicles
- Office equipment
- Other equipments
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.63.45 |
|
|
1 |
Rs.98.88 |
|
Euro |
1 |
Rs.77.62 |
INFORMATION DETAILS
|
Information
Gathered by : |
NYA |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
KVT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILITY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
54 |
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.