MIRA
INFORM REPORT
|
Report Date : |
03.01.2014 |
IDENTIFICATION DETAILS
|
Name : |
HARDCASTLE RESTAURANTS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
1001-1002, 10th Floor, Tower 3, Indiabulls Finance Centre, Senapati
Bapat Marg, Mumbai – 400013, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
07.08.1995 |
|
|
|
|
Com. Reg. No.: |
11-091422 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 1235.000 Millions |
|
|
|
|
CIN No.: [Company Identification No.] |
U55101MH1995PTC091422 |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAAFH1333H |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
To operate and maintain either directly or indirectly Restaurants, Eating Houses, Kiosks, Fast Food Outlets, Amusement Centres, Cafeterias. |
|
|
|
|
No. of Employees
: |
Information declined by the management |
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 2100000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a subsidiary of Westlife Development Limited. It is a
well-established company having moderate track record. There appears accumulated losses recorded by the company which seems to
be decreasing over year. Further external borrowing of the company appears to
be huge. However, the company has achieved better growth in its sales turnover
and profit during financial year 2013. Trade relations are fair. Business is active. Payment terms are 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.
INDIAN ECONOMIC OVERVIEW
India’s current
account deficit narrowed in the quarter ended September as government measures
to curb imports, especially gold, kicked in. The current account deficit,
the excess of a country’s imports of goods and services over exports, narrowed
to $ 5.2 billion from $ 21 billion in the year ago period, according to
provisional Reserve Bank of India data. Finance Minister P. Chidambaram said
the CAD for the year will be less than $ 60 billion or 3 per cent of GDP and
the latest data suggests the government may achieve the target.
India was ranked 94th
among the world’s most corrupt nations list. Denmark and New Zealand topped as
the cleanest while Somalia emerged as the most corrupt.
India’s services
sector activity witnessed a moderate improvement in November over the previous
month, even while indicating the fifth successive monthly contraction,
according the HSBC survey.
$53 million
estimated losses suffered by India due to phishing attacks during the third
quarter, according to a study by RSA. India ranks fourth in the list of nations
hit by phishing attacks. The US remained at the top of the charts. Phishing is
the process of acquiring information such as user names, passwords and credit
card details by sending e-mails disguised as official mails.
Rs.4080 million
worth of mobile-phone-based transactions by July 2013 compared to Rs.260
million in September, 2012, according to Deloitte report. The number of
transactions has shot up from 94000 to 701000.
India aims to earn
Rs.400000 million from the bandwidth auction set for January. The merger and
acquisition guidelines, cleared by a group of ministers, will be out before the
auction begins so that players can make informed decisions on the auctions.
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. Vipul Maheshwari |
|
Designation : |
Manager Finance and Accounts |
|
Contact No.: |
91-22-49135019 |
|
Date : |
02.01.2014 |
LOCATIONS
|
Registered Office : |
1001-1002, 10th Floor, Tower 3, Indiabulls Finance Centre, Senapati
Bapat Marg, Mumbai – 400013, Maharashtra, India |
|
Tel. No.: |
91-22–49135000 / 49135045 |
|
Fax No.: |
91-22–49135001 |
|
E-Mail : |
|
|
Website : |
DIRECTORS
As on 30.09.2013
|
Name : |
Mr. Banwari Lal Jatia |
|
Designation : |
Director |
|
Address : |
Avanti 67-A, |
|
Date of Birth/Age : |
08.12.1943 |
|
Date of Appointment : |
07.08.1995 |
|
DIN No.: |
00016823 |
|
Voter ID No.: |
MT 04/ 024/ 240817 |
|
|
|
|
Name : |
Mr. Amit Jatia |
|
Designation : |
Managing Director |
|
Address : |
Avanti 67-A, |
|
Date of Birth/Age : |
11.02.1967 |
|
Date of Appointment : |
22.12.2010 |
|
DIN No.: |
00016871 |
|
PAN No.: |
AAEPJ8462D |
|
|
|
|
Name : |
Mrs. Smita Jatia |
|
Designation : |
Whole-Time Director |
|
Date of Birth/Age : |
20.05.1970 |
|
Date of Appointment : |
22.12.2010 |
|
DIN No.: |
03165703 |
|
PAN No.: |
ADDPJ8102C |
|
|
|
|
Name : |
Mr. Om Prakash Adukia |
|
Designation : |
Director |
|
Address : |
701, Avarsekar Heights, Dr. Annie Besant Road, Mumbai – 400018,
Maharashtra, India |
|
Date of Birth/Age : |
21.04.1937 |
|
Date of Appointment : |
31.01.2012 |
|
DIN No.: |
00017001 |
|
|
|
|
Name : |
Mr. Padmanabh Ramchandra Barpande |
|
Designation : |
Director |
|
Address : |
Saubhagya Society, Block 50, A-Wing Andheri (East), Mumbai – 400069,
Maharashtra, India |
|
Date of Birth/Age : |
29.11.1947 |
|
Date of Appointment : |
01.02.2013 |
|
DIN No.: |
00016214 |
|
|
|
|
Name : |
Mr. Ajay Kumar Gupta |
|
Designation : |
Director |
|
Address : |
603, Badrinath Tower, Seven Bungalows, Mumbai – 400061, Maharashtra,
India |
|
Date of Birth/Age : |
31.07.1969 |
|
Date of Appointment : |
31.01.2012 |
|
DIN No.: |
00196210 |
KEY EXECUTIVES
|
Name : |
Mr. Shatadru Sengupta |
|
Designation : |
Secretary |
|
Address : |
EMP-34, Flat 101 Neptune CHSL Thakur Village, Kandivali (East)
Mumbai-400101, Maharashtra, India |
|
Date of Birth/Age : |
25.09.1969 |
|
Date of Appointment : |
16.01.1997 |
|
PAN No.: |
AAUPS1205K |
|
|
|
|
Name : |
Mr. Vipul Maheshwari |
|
Designation : |
Manager Finance and Accounts |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2013
|
Names of Shareholders (Equity Shares) |
|
No. of Shares |
|
Westlife Development Limited, India |
|
309999 |
|
Amit Jatia JT. Westlife Development Limited, India |
|
1 |
|
Total |
|
310000 |
|
Names of Shareholders (Preferences Shares) |
|
No. of Shares |
|
Westlife Development Limited, India |
|
1345000 |
|
Total |
|
1345000 |
As on 30.09.2013
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Bodies corporate |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
To operate and maintain either directly or indirectly
Restaurants, Eating Houses, Kiosks, Fast Food Outlets, Amusement Centres,
Cafeterias. |
GENERAL INFORMATION
|
No. of Employees : |
Information declined by the management |
||||||||||||
|
|
|
||||||||||||
|
Bankers : |
CITI Bank N. A., First International Financial Centre, 9th
Floor, Plot No. C-54, C-55, G-Block, BKC, Bandra Eas,, MUMBAI - 400051,
Maharashtra, India |
||||||||||||
|
|
|
||||||||||||
|
Facilities : |
(Rs.
In Millions)
|
|
|
|
|
Banking
Relations : |
--- |
|
|
|
|
Auditors : |
|
|
Name : |
S R Batliboi and Company Chartered Accountants |
|
Address : |
14th 15th and 16th Floor, The Ruby, 29, Senapati Bapat
Marg, Dadar (West), Mumbai – 400028, Maharashtra, India. |
|
PAN No.: |
AURPK5312N |
|
|
|
|
Ultimate Holding
Company : |
· Westlife Development Limited · Westpoint Leisureparks Private Limited |
|
|
|
|
Enterprises which
are owned, or have significant influence of or are partners with Key
management personnel and their relatives |
· West Pioneer Properties (India) Private Limited · Vishwas Investment and Trading Company Private Limited · Hardcastle And Waud Manufacturing Company Limited · Hardcastle Petrofer Private Limited |
|
|
|
|
Holding Company : |
Triple A Foods Private Limited |
CAPITAL STRUCTURE
As on 30.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
315000 |
Equity Shares |
Rs.1000/- each |
Rs.315.000 Millions |
|
1355000 |
Preference Shares |
Rs.1000/- each |
Rs.1355.000 Millions |
|
|
Total |
|
Rs.1670.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
310000 |
Equity Shares |
Rs.1000/- each |
Rs.310.000 Millions |
|
1345000 |
Preference Shares |
Rs.1000/- each |
Rs.1345.000 Millions |
|
|
Total |
|
Rs.1655.000 Millions |
As on 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
315000 |
Equity Shares |
Rs.1000/- each |
Rs.315.000 Millions |
|
925000 |
Preference Shares |
Rs.1000/- each |
Rs.925.000 Millions |
|
|
Total |
|
Rs.1240.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
310000 |
Equity Shares |
Rs.1000/- each |
Rs.310.000 Millions |
|
925000 |
Preference Shares |
Rs.1000/- each |
Rs.925.000 Millions |
|
|
Total |
|
Rs.1235.000 Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
1235.000 |
1235.000 |
1235.000 |
|
(b) Reserves & Surplus |
(697.310) |
(1004.920) |
(1430.005) |
|
(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) |
537.690 |
230.080 |
(195.005) |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
2795.500 |
2375.000 |
2375.000 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term liabilities |
3.170 |
2.720 |
1.311 |
|
(d) long-term provisions |
4.210 |
8.390 |
13.909 |
|
Total Non-current Liabilities (3) |
2802.880 |
2386.110 |
2390.220 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
156.530 |
0.000 |
0.000 |
|
(b) Trade payables |
569.440 |
363.800 |
100.624 |
|
(c) Other current
liabilities |
529.190 |
333.880 |
146.585 |
|
(d) Short-term provisions |
36.700 |
26.110 |
317.802 |
|
Total Current Liabilities (4) |
1291.860 |
723.790 |
565.011 |
|
|
|
|
|
|
TOTAL |
4632.430 |
3339.980 |
2760.226 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
2733.440 |
1849.150 |
1460.616 |
|
(ii) Intangible Assets |
289.180 |
226.520 |
180.312 |
|
(iii) Capital
work-in-progress |
394.980 |
196.050 |
146.240 |
|
(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 |
587.540 |
387.020 |
316.027 |
|
(e) Other Non-current assets |
0.080 |
0.710 |
0.000 |
|
Total Non-Current Assets |
4005.220 |
2659.450 |
2103.195 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
5.000 |
35.000 |
17.752 |
|
(b) Inventories |
177.330 |
150.310 |
117.297 |
|
(c) Trade receivables |
82.770 |
43.150 |
27.993 |
|
(d) Cash and cash
equivalents |
125.160 |
302.760 |
391.801 |
|
(e) Short-term loans and
advances |
98.780 |
70.460 |
57.940 |
|
(f) Other current assets |
138.170 |
78.850 |
44.248 |
|
Total Current Assets |
627.210 |
680.530 |
657.031 |
|
|
|
|
|
|
TOTAL |
4632.430 |
3339.980 |
2760.226 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
6810.340 |
5444.600 |
3793.345 |
|
|
|
Other Income |
48.070 |
40.220 |
26.743 |
|
|
|
TOTAL |
6858.410 |
5484.820 |
3820.088 |
|
|
|
|
|
|
|
|
|
EXPENSES |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Administrative Expenses |
6231.350 |
4812.440 |
3436.181 |
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
6231.350 |
4812.440 |
3436.181 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
627.060 |
672.380 |
383.907 |
|
|
|
|
|
|
|
|
|
|
DEPRECIATION/
AMORTISATION |
313.360 |
246.580 |
196.117 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
307.610 |
425.080 |
187.790 |
|
|
|
|
|
|
|
|
|
|
TAX |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX |
307.610 |
425.080 |
187.790 |
|
|
|
|
|
|
|
|
|
|
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
(1004.920) |
(1430.000) |
(1617.795) |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
(697.310) |
(1004.920) |
(1430.005) |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
185.87 |
256.85 |
NA |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
4.49
|
7.75 |
4.92 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
4.52
|
7.81 |
4.95 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
7.26
|
13.52 |
7.18 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.57
|
1.85 |
(0.96) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
5.49
|
10.32 |
(12.18) |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.49
|
0.94 |
1.16 |
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 |
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 |
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 |
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 |
No |
UNSECURED LOAN
Rs.
In Millions
|
Particular |
As
on 31.03.2013 |
As
on 31.03.2012 |
|
Long-term
borrowings |
|
|
|
Intercorporate deposits |
2795.500 |
2375.000 |
|
Short-term
borrowings |
|
|
|
Intercorporate deposits |
50.000 |
0.000 |
|
Total |
2845.500 |
2375.000 |
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10434254 |
26/05/2013 |
250,000,000.00 |
CITIBANK N. A. |
FIRST INTERNATIONAL FINANCIAL CENTRE, 9TH FLOOR, PLOT NO.
C-54, C-55, G-BLOCK, BKC, BANDRA EAST, |
B78475068 |
|
2 |
10388682 |
03/10/2012 |
250,000,000.00 |
CITIBANK N.A |
TRENT HOUSE, 2ND FLOOR, G BLOCK, PLOT NO.C60, BANDRA KURLA
COMPLEX, BANDRA (EAST), MUMBAI, MAHARASHTRA |
B62846159 |
|
3 |
10375677 |
07/05/2013 * |
200,000,000.00 |
ING VYSYA BANK LIMITED |
MITTAL TOWERS,A-WING, GROUND FLOOR, 210 NARIMAN POINT, MUMBAI, MAHARASHTRA - 400021, INDIA |
B75707018 |
* Date of charge modification
FIXED ASSETS
· Buildings
· Plant and equipment
· Furniture and fixtures
· Vehicles
· Office equipment
· Computer 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.61.90 |
|
|
1 |
Rs.102.74 |
|
Euro |
1 |
Rs.85.16 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Report Prepared
by : |
NTH |
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 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
2 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
|
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.