|
Report Date : |
08.02.2014 |
IDENTIFICATION DETAILS
|
Name : |
EMAMI FRANK ROSS LIMITED (w.e.f. 18.02.2008) |
|
|
|
|
Formerly Known
As : |
FRANK ROSS LIMITED |
|
|
|
|
Registered
Office : |
7, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
31.01.1919 |
|
|
|
|
Com. Reg. No.: |
21-003123 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs. 20.827 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
L24232WB1919PLC003123 |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACF3726D |
|
|
|
|
Legal Form : |
A Public Limited Liability Company. The Company’s Shares are Listed on
the Stock Exchanges. |
|
|
|
|
Line of Business
: |
Trader of Painting, Sculptures etc. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (42) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 260000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a part of EMAMI GROUP OF KOLKATA. It is an old and well
established company having satisfactory track record. External borrowing of the company seems to be huge. However, the rating reflects managerial and financial support that
company receives from its parent, diversified revenue stream, large number of
retail outlets in strategic locations and customer loyalty through
value-added services. Trade relations are fair. Business is active. Payment terms are
reported to be slow but correct. In view of strong holding, the company can be considered for business
dealings at usual trade terms and condition. |
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 – December 1, 2013
|
Country Name |
Previous Rating (30.09.2013) |
Current Rating (01.12.2013) |
|
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
The services sector, the largest contributor to India’s GDP, contracted
for the sixth consecutive month in December, as orders dipped. However, hiring
has risen. Direct tax collections rose 12.3 % during the April – December
period of the current financial year. The government has decided to
retain 100 per cent foreign direct investment in both greenfield (new) and
brown field (existing) pharmaceutical companies, despite concerns over genetic
drugs going out of production, if multi-national companies take over domestic
ones. In M&A deals, a non compete clause would not be allowed, except in
special circumstances. The Department of Industrial Policy and Promotion plans
to release the next edition of its consolidated foreign direct investment
policy document on March 31, incorporating changes made in the past year. DIPP
compiles all policies related to India’s FDI regime into a single document to
make it easy for investors to understand. 185 million estimated number of
mobile internet users in India by June 2014, according to a report by the
Internet & Mobile Association of India and IMRB International. India
had 110 million mobile internet users with 25 million in rural areas. $3.77 tn
estimated global IT spending in 2014, according to research firm Gartner Inc.
The growth forecast for this year is cut to 3.1 %from the earlier estimate of
3.5 %. The spending growth forecast for telecom services – a segment that accounts
for more than 40 % at total IT spending – from 1.9 per cent to 1.2 per cent is
the main reason for this overall IT cut. A Reserve Bank of India committee has
recommended setting up a special category of lenders who would cater to small
businesses and households, to expand the number of customers with access to
banking services. These banks would focus onproviding payment services and
deposit products. Indian banks want the free use of automated teller
machines to be capped at five transactions in a month including that of the
bank in which the account is active. This follows state government order to
banks to install security guards at ATM booths after a woman banker was
assaulted in Bangalore. The government is likely to present a vote on Account
in mid-February. The annual Economic Survey will be tabled later in Parliament
along with the full Budget. A full Budget for 2014/15 is likely to be present
in July by the new government formed after the General Election. The government
will soon launch an internet spy system, called Netra, to detect malafide
messages. Security agency will deploy the system to capture dubious voice
traffic on applications such as Skype and Google Talk, as well as tweeters.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
Long Term Bank Facilities = BBB |
|
Rating Explanation |
Moderate degree of safety and moderate credit risk. |
|
Date |
10.12.2013 |
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 DECLINED BY
|
Name : |
Mr. Akhilesh Agarwal |
|
Designation : |
Chief Financial Officer |
|
Date : |
06.02.2014 |
LOCATIONS
|
Registered Office : |
7, Jawaharlal Nehru Road, Kolkata – 700013, West Bengal, India |
|
Tel. No.: |
91-33-22284296 / 22286042 / 22280066 / 22280067 |
|
Fax No.: |
91-33-22285821 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Stores : |
AMRI Hospital, JC-16&17, Salt lake (Main building),
Sector-III, Kolkata-700098, West Bengal, India |
|
Tel. No.: |
91-33-23352750 |
DIRECTORS
As on 30.09.2013
|
Name : |
Mr. Rajendra Kumar Jatia |
|
Designation : |
Managing Director |
|
Address : |
9, Moore Avenue, Regent Park, Kolkata – 700040, West
Bengal, India |
|
Date of Birth/Age : |
23.08.1941 |
|
Date of Appointment : |
01.10.2004 |
|
DIN No.: |
00083054 |
|
PAN No.: |
ACSPJ9971D |
|
Voter ID No.: |
LFB3349354 |
|
|
|
|
Name : |
Mr. Anurag Jatia |
|
Designation : |
Whole-Time Director |
|
Address : |
9, Moore Avenue, Regent Park, Kolkata – 700040, West Bengal, India |
|
Date of Birth/Age : |
03.11.1969 |
|
Date of Appointment : |
01.10.2010 |
|
DIN No.: |
01184328 |
|
PAN No.: |
ACHPJ2585J |
|
Voter ID No.: |
LFB3844198 |
|
|
|
|
Name : |
Mr. Rajesh Sharma |
|
Designation : |
Director |
|
Address : |
207A, Park Street, Kolkata – 700017, West Bengal, India |
|
Date of Birth/Age : |
21.07.1972 |
|
Date of Appointment : |
16.08.2004 |
|
DIN No.: |
00084350 |
|
Voter ID No.: |
AMRPS0898M |
|
|
|
|
Name : |
Mr. Pramod Bajoria |
|
Designation : |
Director |
|
Address : |
28, Raybahadur Road, 117, Behala, South 24 Parganas, Kolkata – 700053,
West Bengal, India |
|
Date of Birth/Age : |
01.04.1965 |
|
Date of Appointment : |
29.09.2012 |
|
DIN No.: |
02725678 |
|
Voter ID No.: |
AIYPB6594N |
|
|
|
|
Name : |
Mr. Swapan Kumar Mondal |
|
Designation : |
Director |
|
Address : |
3, Baishnab Ghata Patuli, Garia, Kolkata – 700094, West Bengal,
India |
|
Date of Birth/Age : |
17.05.1950 |
|
Date of Appointment : |
29.09.2012 |
|
DIN No.: |
00367104 |
|
Voter ID No.: |
AEOPM4603B |
KEY EXECUTIVES
|
Name : |
Mr. Akhilesh Agarwal |
|
Designation : |
Chief Financial Officer |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2013
SHAREHOLDING DETAILS FILE ATTACHED
As on 30.09.2013
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Bodies corporate |
73.14 |
|
Directors or relatives of Directors |
0.38 |
|
Other top fifty shareholders |
26.47 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Trader of Painting, Sculptures etc. |
|
|
|
|
Brand Name : |
STARMARK |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Bankers : |
Axis Bank Limited, RAC - Kolkata, Loards Building, 1st Floor,
7/1 Lord Sinha Road, Kolkata - 700071, West Bengal, India |
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Facilities : |
(Rs.
In Millions)
|
|
|
|
|
Banking
Relations : |
--- |
|
|
|
|
Auditors : |
|
|
Name : |
S K Agrawal and Company Chartered Accountant |
|
Address : |
4A, Council House Street, Kolkata , West Bengal, India |
|
PAN No.: |
AATFS9977P |
|
|
|
|
Entities where KMP have
significant influence: |
King and Company (Homoeo Chemist) Private Limited |
|
|
|
|
Subsidiaries : |
Frank Ross Medicare Private Limited |
CAPITAL STRUCTURE
As on 30.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3738500 |
Equity Shares |
Rs.10/- each |
Rs.37.385 Millions |
|
6150 |
Preference Shares |
Rs.100/- each |
Rs.0.615 Millions |
|
|
Total |
|
Rs.38.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2082707 |
Equity Shares |
Rs.10/- each |
Rs.20.827 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 |
20.827 |
20.827 |
20.827 |
|
(b) Reserves & Surplus |
44.798 |
43.166 |
117.596 |
|
(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) |
65.625 |
63.993 |
138.423 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
462.877 |
189.334 |
102.500 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term liabilities |
6.118 |
12.267 |
6.099 |
|
(d) long-term provisions |
13.8700 |
13.023 |
23.909 |
|
Total Non-current Liabilities (3) |
482.865 |
214.624 |
132.508 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
461.839 |
739.025 |
441.475 |
|
(b) Trade payables |
87.826 |
101.785 |
83.832 |
|
(c) Other current
liabilities |
180.347 |
133.885 |
76.219 |
|
(d) Short-term provisions |
0.259 |
0.403 |
0.372 |
|
Total Current Liabilities (4) |
730.271 |
975.098 |
601.898 |
|
|
|
|
|
|
TOTAL |
1278.761 |
1253.715 |
872.829 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
214.521 |
191.784 |
177.167 |
|
(ii) Intangible Assets |
21.172 |
24.257 |
18.352 |
|
(iii) Capital
work-in-progress |
5.706 |
2.123 |
2.470 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
11.214 |
11.214 |
12.981 |
|
(c) Deferred tax assets (net) |
1.546 |
1.674 |
3.001 |
|
(d) Long-term Loan and Advances |
79.853 |
56.522 |
36.579 |
|
(e) Other Non-current assets |
6.913 |
4.260 |
5.321 |
|
Total Non-Current Assets |
340.925 |
291.834 |
255.871 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
756.338 |
860.246 |
523.730 |
|
(c) Trade receivables |
71.135 |
52.898 |
53.384 |
|
(d) Cash and cash
equivalents |
30.614 |
35.382 |
23.799 |
|
(e) Short-term loans and
advances |
79.749 |
13.355 |
16.045 |
|
(f) Other current assets |
0.000 |
0.000 |
0.000 |
|
Total Current Assets |
937.836 |
961.881 |
616.958 |
|
|
|
|
|
|
TOTAL |
1278.761 |
1253.715 |
872.829 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
1987.589 |
1833.991 |
1576.303 |
|
|
|
Other Income |
9.968 |
14.669 |
6.592 |
|
|
|
TOTAL (A) |
1997.557 |
1848.660 |
1582.895 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Purchases of stock-in-trade |
1431.988 |
1486.159 |
1261.948 |
|
|
|
Changes in inventories of finished goods, work-in-progress and stock-in-trade |
103.908 |
(71.233) |
-79.122 |
|
|
|
Employee benefit expense |
143.555 |
129.135 |
101.162 |
|
|
|
Other expenses |
158.748 |
166.344 |
153.745 |
|
|
|
TOTAL (B) |
1838.199 |
1710.405 |
1437.733 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
159.358 |
138.255 |
145.161 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES (D) |
125.958 |
118.453 |
59.454 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
33.400 |
19.802 |
85.708 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
31.626 |
26.781 |
20.620 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
1.774 |
(6.979) |
65.088 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
0.142 |
(13.783) |
20.081 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
1.632 |
6.804 |
45.007 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
0.58 |
3.27 |
21.61 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
0.08
|
0.37 |
2.84 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
0.09
|
(0.38) |
4.13 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.14
|
(0.56) |
7.62 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.03
|
(0.11) |
0.47 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
14.09
|
14.51 |
3.93 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.28
|
0.99 |
1.03 |
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% |
---------------------- |
|
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 |
Yes |
|
34] |
External Agency Rating, if available |
Yes |
OPERATION
The company is engaged in the retail business of pharmaceuticals in the name of “Frank Ross Pharmacy” and retail business of Books, CD’s, Toys and Stationary etc. in the brand name of “starmark” having retail outlets at South City, Mani Square, City Centre and Emami Market. The Company has shown considerable improvement Gross turnover for the year is Rs. 2020.085 Millions whereas for the previous year was Rs.1854.939 Millions thus resulting in a growth of 8.90% and net profit after tax of Rs.1.632 Millions.
The company has been expanding its retail medicine business with the name of “Frank Ross Pharmacy” across the country. The company has opened further new branches at the following places: One shop each at Abhishikta, Bijoygarh, Gurusaday Road, Manicktala, Narendrapur, Lkae Gardens, Malda, Murshidabad, Chittaranjan and Bangalore-Vijaynagar.
The company is further planning for opening new shops/branches at Thakurpukur, Karaya Road, Khardah, Harish Mukherjee New, Salt Lake Petrol Pump, Baruipur, Naihati, 4 more Outlets at Bangalore- Indiranagar, Jyanagar, Yelahanka and Chamrajpet and at Ahmedabad- Shastrinagar.
UNSECURED LOAN
Rs. In Millions
|
Particular |
As
on 31.03.2013 |
As
on 31.03.2012 |
|
Long-term
borrowings |
|
|
|
Other loans and advances |
0.000 |
116.834 |
|
Short-term
borrowings |
|
|
|
Rupee term loans from banks |
0.000 |
450.000 |
|
Term loans from others |
169.296 |
32.000 |
|
Total |
169.296 |
598.834 |
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10431637 |
16/05/2013 |
366,000.00 |
AXIS BANK LIMITED |
RAC - KOLKATA, LOARDS BUILDING, 1ST FLOOR, 7/1 LORD SINHA ROAD, KOLKATA, WEST BENGAL - 700071, INDIA |
B77326957 |
|
2 |
10409475 |
27/02/2013 * |
420,000,000.00 |
INDUSIND BANK LIMITED |
SAVITRI TOWER, 3A UPPER WOOD STREET, KOLKATA, WEST BENGAL - 700017, INDIA |
B70611223 |
|
3 |
10318369 |
14/02/2013 * |
471,000,000.00 |
INDUSIND BANK LIMITED |
SAVITRI TOWER, 3A UPPER WOOD STREET, KOLKATA, WEST BENGAL - 700017, INDIA |
B69961340 |
|
4 |
90251806 |
13/09/1995 |
2,450,000.00 |
WEST BENGAL FINANCIAL CORPORATION |
12-A; NETAJI SUBHAS ROAD, CALCUTTA, WEST BENGAL - 700001, INDIA |
- |
* Date of charge modification
FIXED ASSETS
· 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.62.32 |
|
|
1 |
Rs.101.78 |
|
Euro |
1 |
Rs.84.68 |
INFORMATION DETAILS
|
Information Gathered
by : |
HNA |
|
|
|
|
Report Prepared
by : |
NTH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
42 |
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.