MIRA
INFORM REPORT
|
Report Date : |
25.07.2014 |
IDENTIFICATION DETAILS
|
Name : |
BALU SPINNING MILLS PRIVATE LIMITED |
|
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|
Registered
Office : |
S F No 239/1 2, Palladam Road, Kunnaangal Palayam, Karaipudur Village,
Arulpuram Post, Tirupur-641604, Tamilnadu |
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Country : |
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Financials (as
on) : |
31.03.2013 |
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Date of
Incorporation : |
05.05.1994 |
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Com. Reg. No.: |
18-005050 |
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Capital
Investment / Paid-up Capital : |
Rs. 300.000 Millions |
|
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|
|
CIN No.: [Company Identification
No.] |
U17111TZ1994PTC005050 |
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|
|
Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer of Yarn |
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|
No. of Employees
: |
Information denied by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
B (29) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
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Payment Behaviour : |
Slow But Correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having a moderate track record. Company has incurred loss from its operation in 2013. However, trade relations are fair. Business is active. Payment terms
are slow but correct. The company can be considered for business dealings 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
N E W S
The economy grew 4.7 %in 2013/14, marking a
second straight year of sub-5 % growth – the worst slowdown in more than a
quarter of a century. The data was below an official estimate of 4.9 % annual
growth and compared with 4.5 % in the last fiscal year. However, the current
account deficit narrowed sharply to $ 32.4 billion at 1.7 % of gross domestic
product, in 2013/14 from a record high of $ 98.8 billion or 4.7 %, the year
before.A sharp fall in gold imports due to restrictions on overseas purchases
and muted import of capital goods helped shrink the current account deficit.
Online retailer Flipkart has acquired fashion
portal Myntra as it prepares to battle with the rapidly expanding India arm of
the global e-commerce giant Amazon. The company raised $ 210 million from
Russian Investment firm DST Global which has also invested in companies like
Facebook, Twitter and Alibaba Group.
General Motors will start exporting vehicles
from its Talegaon plant near Pune in the second half of 2014. GM was one of the
few global carmakers that was using its India plant only for the domestic
market.
Google has overtaken Apple as the world’s top
brand in terms of value, according to global market research agency Millward
Brown. Google’s brand value shot up 40 % in a year to $ 158.84 billion. The top
10 of the 100 slots were dominated by US companies.
Infosys lost another heavy weight when B G
Srinivas, a board member put in his papers. He is the third CEO-hopeful to quit
after Chairman N R Narayana Murthy’s return to the company – Ashok Vemuri and V
Balakrishnan being the other two.While Vemuri went on to lead IGate,
Balakrishnan joined politics.
Naresh Goyal – promoted Jet Airways posted
biggest quarterly loss – Rs 2153.37 crore – in the three months ended March 31,
mainly because it has been offering discounts to passengers to fill planes.
William S Pinckney – Chairman and CEO of
Amway India was arrested by the Andhra Pradesh Police in connection with a
complaint against the direct selling firm. This is the second time that he has
been taken into custody. A year, ago the Kerala Police had arrested Pinckney
and two company directors on charges of financial irregularities.
China has told its state-owned enterprises to
sever links with American consulting firms after the United States charged five
Chinese military officers wih hacking US companies. China’s action which
targets consultancies like McKinsey & Co. and the Boston Consulting Group,
sterns from fears that the first are providing trade secrets to the US governments.
India has emerged as a country with some of
the highest unregistered businesses in the world. Indonesia has the maximum
number of shadow businesses, says a study of 68 countries by Imperial College
Business School in London.
Pfizer has abandoned its attempt to buy
AstraZeneca for nearly $ 118 billion after the latter refused an offer of 55
pounds a share.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Cash credit BB- (Suspended) |
|
Rating Explanation |
Inadequate credit quality and high credit
risk. |
|
Date |
April 23, 2013 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short term rating A4+ (Suspended) |
|
Rating Explanation |
Minimal degree of safety and very high
credit risk. |
|
Date |
April 23, 2013 |
NOTE: Reason for suspension:
Absences of adequate information
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 DENIED BY
|
Name : |
Mr. Senthil Kumar |
|
Designation : |
Accounts Officer |
|
Contact No.: |
91-9976020538 |
|
Date : |
23.07.2014 |
LOCATIONS
|
Registered Office : |
S F No 239/1 2, Palladam Road, Kunnaangal Palayam, Karaipudur Village,
Arulpuram Post, Tirupur-641604, Tamilnadu, India |
|
Tel. No.: |
91-4258-222085 / 220538 |
|
Mobile No.: |
91-9976020538 (Mr. Senthil Kumar) |
|
Fax No.: |
91-4258-222083 |
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E-Mail : |
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Website : |
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Office and Mills : |
C Ammapatti, Pollachi Road, Dharapuram-638657, Tamilnadu, India |
DIRECTORS
AS ON 29.04.2010
|
Name : |
Mr. Balasubramanian Rajalakshmi |
|
Designation : |
Managing Director |
|
Address : |
9, 4th Street, Sheriff Colony Town Extension,
Tirupur-641604, Tamilnadu, India |
|
Date of Birth/Age : |
16.12.1957 |
|
Date of Appointment : |
05.05.1994 |
|
DIN No.: |
00028381 |
|
|
|
|
Name : |
Balasuramanian Roopa |
|
Designation : |
Director |
|
Address : |
9, 4th Street, Sheriff Colony Town Extension,
Tirupur-641604, Tamilnadu, India |
|
Date of Birth/Age : |
27.05.1975 |
|
Date of Appointment : |
05.05.1994 |
|
DIN No.: |
00028456 |
KEY EXECUTIVES
|
Name : |
Mr. Senthil Kumar |
|
Designation : |
Accounts Officer |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 29.04.2010
|
Names of Shareholders |
No. of Shares |
%age |
|
Balasubramanian Rajalakshmi |
142500 |
98.28 |
|
Balasuramanian Roopa |
1250 |
0.86 |
|
B Arun Eashwar |
1250 |
0.86 |
|
|
|
|
|
TOTAL
|
145000 |
100.00 |
AS ON 13.06.2012
|
Names of Allotees |
No. of Shares |
|
Balasubramanian Rajalakshmi |
40000 |
|
TOTAL |
40000 |
AS ON 31.03.2012
|
Names of Allotees |
No. of Shares |
|
Balasubramanian Rajalakshmi |
30000 |
|
TOTAL |
30000 |
AS ON 29.04.2010
|
Equity Shares
Break Up |
Percentage of
Holding |
|
Directors or relatives of Directors |
100.00 |
|
TOTAL |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Yarn |
GENERAL INFORMATION
|
No. of Employees : |
Information denied by the management |
||||||||||||||||||||||||
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||||||||||||||||||||||||
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Bankers : |
·
IDBI bank, 4th Floor, No.104, Race
Course Road, Coimbatore-641018, Tamilnadu, India ·
State Bank of India, 24, Stanes Road, Tirupur-641605,
Tamilnadu, India ·
Punjab National Bank, 54, Sabari Salai, Binny
Compound, Tirupur-641601, Tamilnadu, India |
||||||||||||||||||||||||
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||||||||||||||||||||||||
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Facilities : |
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Banking
Relations : |
-- |
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|
Auditors : |
|
|
Name : |
Moorthy M Chartered Accountant |
|
Address : |
No 534 Guptha
Building, Second Floor, P N Road, Tirupur-641602, Tamilnadu, India |
|
PAN No.: |
AKSPM8286C |
|
|
|
|
Associates : |
BSM Wind Energy Private Limited CIN No.:- U40109TN2010PTC075614 |
CAPITAL STRUCTURE
AS ON 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
300000 |
Equity Shares |
Rs.1000/- each |
Rs. 300.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
300000 |
Equity Shares |
Rs.1000/- each |
Rs. 300.000 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 |
300.000 |
210.000 |
182.070 |
|
(b) Reserves & Surplus |
644.485 |
755.976 |
735.503 |
|
(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) |
944.485 |
965.976 |
917.573 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
613.260 |
658.100 |
664.248 |
|
(b) Deferred tax liabilities (Net) |
68.562 |
38.768 |
37.067 |
|
(c) Other long term liabilities |
18.027 |
24.721 |
38.867 |
|
(d) long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current Liabilities (3) |
699.849 |
721.589 |
740.182 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term
borrowings |
844.275 |
774.909 |
726.933 |
|
(b) Trade payables |
291.293 |
218.736 |
393.730 |
|
(c) Other current
liabilities |
159.990 |
161.586 |
122.187 |
|
(d) Short-term provisions |
0.000 |
5.540 |
5.400 |
|
Total Current Liabilities (4) |
1295.558 |
1160.771 |
1248.250 |
|
|
|
|
|
|
TOTAL |
2939.892 |
2848.336 |
2906.005 |
|
|
|
|
|
|
II. ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
1381.862 |
1413.171 |
1365.929 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
37.734 |
31.199 |
99.127 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
9.000 |
9.000 |
9.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
135.017 |
104.972 |
150.130 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
1563.613 |
1558.342 |
1624.186 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
990.941 |
964.396 |
1074.294 |
|
(c) Trade receivables |
321.641 |
311.077 |
191.995 |
|
(d) Cash and cash equivalents |
2.853 |
8.146 |
7.773 |
|
(e) Short-term loans
and advances |
60.844 |
6.375 |
7.757 |
|
(f) Other current
assets |
0.000 |
0.000 |
0.000 |
|
Total Current Assets |
1376.279 |
1289.994 |
1281.819 |
|
|
|
|
|
|
TOTAL |
2939.892 |
2848.336 |
2906.005 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Sales |
2324.946 |
1848.570 |
1786.550 |
|
|
|
Other Income |
NA |
NA |
NA |
|
|
|
TOTAL (A) |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
EXPENSES |
|
|
|
|
|
|
|
|
NA |
|
|
|
|
|
Purchase of Stock In Trade |
|
|
|
|
|
|
Employee benefits expenses |
|
|
|
|
|
|
TOTAL (B) |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
263.263 |
357.419 |
269.448 |
|
|
|
|
|
|
|
|
|
|
FINANCIAL
EXPENSES (D) |
243.272 |
207.699 |
128.184 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
19.991 |
149.720 |
141.264 |
|
|
|
|
|
|
|
|
|
|
DEPRECIATION/
AMORTISATION (F) |
83.176 |
122.007 |
114.417 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX (E-F) (G) |
(81.696) |
27.713 |
26.847 |
|
|
|
|
|
|
|
|
|
|
TAX (H) |
29.795 |
7.241 |
6.888 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
(111.491) |
20.473 |
19.959 |
|
|
|
|
|
|
|
|
|
|
Earnings / (Loss)
Per Share (Rs.) |
(371.64) |
-- |
-- |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
Net Profit Margin (PBT/Sales) |
(%) |
(3.51)
|
1.50 |
1.50 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(2.82)
|
0.99 |
0.96 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.09)
|
0.03 |
0.03 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
1.54
|
1.48 |
1.52 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.06
|
1.11 |
1.03 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Share Capital |
182.070 |
210.000 |
300.000 |
|
Reserves & Surplus |
735.503 |
755.976 |
644.485 |
|
Net
worth |
917.573 |
965.976 |
944.485 |
|
|
|
|
|
|
long-term borrowings |
664.248 |
658.100 |
613.260 |
|
Short term borrowings |
726.933 |
774.909 |
844.275 |
|
Total
borrowings |
1391.181 |
1433.009 |
1457.535 |
|
Debt/Equity
ratio |
1.516 |
1.483 |
1.543 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
1786.550 |
1848.570 |
2324.946 |
|
|
|
3.471 |
25.770 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
1786.550 |
1848.570 |
2324.946 |
|
Profit |
19.959 |
20.473 |
(111.491) |
|
|
1.12% |
1.11% |
(4.80%) |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES
OF LONG TERM DEBTS
|
Particulars |
31.03.2013 (Rs.
In Millions) |
31.03.2012 (Rs.
In Millions) |
31.03.2011 (Rs.
In Millions) |
|
Current Maturities of Long Term Debts |
132.900 |
134.500 |
115.000 |
|
|
|
|
|
|
Total |
132.900 |
134.500 |
115.000 |
|
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 |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
No |
UNSECURED LOAN
|
Particular |
Rs.
In Millions 31.03.2013 |
Rs.
In Millions 31.03.2012 |
|
Long Term
Borrowings |
|
|
|
Loans and Advances from Directors |
7.555 |
43.354 |
|
Other Loans and Advances |
6.723 |
51.200 |
|
Loans Taken for Other Fixed Assets |
0.000 |
3.538 |
|
|
|
|
|
TOTAL |
14.278 |
98.092 |
INDEX OF CHARGES
|
S. No |
Charge ID |
Date of Charge Creation /Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN |
|
1 |
10392417 |
25/10/2013 * |
100,000,000.00 |
IDBI BANK |
4th Floor, No 104 Race Course Road,
Coimbatore, Tamilnadu - 641018, India |
B88048202 |
|
2 |
10219488 |
19/04/2013 * |
978,000,000.00 |
Punjab National Bank |
54 Sabari Salai, Binny Compound, Tirupur,
Tamilnadu - 641601, India |
B74500349 |
|
3 |
10027600 |
11/02/2011 * |
618,000,000.00 |
Punjab National Bank |
54, Sabari saalai, Binny Compound,
Tirupur, Tamilnadu - 641601, India |
B10460947 |
|
4 |
90009216 |
16/05/2013 * |
1,050,000,000.00 |
State Bank of India |
24 Stanes Road, Tirupur, Tamilnadu -
641605, India |
B79361358 |
* Date of charge modification
REVIEW OF
OPERATIONS
During the Financial
Year 2012-13, the company achieved a sales turnover of Rs.2324.900 Millions and
a profit before depreciation and Tax of Rs. 148.000 Millions but has incurred a
loss after tax of Rs. 111.491 Millions. The company had to operate under very
adverse market, economic and power conditions during the above year. With the
power situation and other adverse factors slowly getting improved, they look
forward to robust performance during the ensuing year i.e. 2013-14
The year 2012-13
presented many challenges for the cotton spinning industry with wild
fluctuations in cotton prices, epileptic power supply and hardening of
financial costs. Yet they are working continuously to raise their standards of
operations, to make their mill a model mill in terms of productivity and
efficiency.
With the
stabilization of yarn market during the last quarter of the year 2012-13 and
the increase in quantum production of yarn at their mill, they are confident of
achieving PAT at reasonable. Levels
FIXED ASSETS
·
Land
·
Building
·
Plant and Equipment
·
Furniture and Fixtures
·
Motor Vehicles
·
Office Equipments
·
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. 60.00 |
|
UK Pound |
1 |
Rs. 102.19 |
|
Euro |
1 |
Rs. 80.68 |
INFORMATION DETAILS
|
Information
Gathered by : |
NYA |
|
|
|
|
Analysis Done by
: |
SUM |
|
|
|
|
Report Prepared
by : |
ANK |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--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 |
|
29 |
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.