MIRA INFORM REPORT
|
Report Date : |
06.06.2014 |
IDENTIFICATION DETAILS
|
Name : |
VEEBEE YARNNTEX PRIVATE LIMITED (w.e.f.27.03.2012) |
|
|
|
|
Formerly Known
As : |
VEE BEE YARN TEX PRIVATE LIMITED
(w.e.f.18.03.2009) SHREE VB SPINTEX
PRIVATE LIMITED |
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|
|
Registered
Office : |
1109 - E, Srivilliputtur Road, Rajapalayam – 626117, Tamilnadu |
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|
Country : |
India |
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|
|
Financials (as
on) : |
31.03.2013 |
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|
Date of
Incorporation : |
11.02.2004 |
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|
|
|
Com. Reg. No.: |
18-052510 |
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|
|
|
Capital
Investment / Paid-up Capital : |
Rs.75.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U17111TN2004PTC052510 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MRIS03379F |
|
|
|
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PAN No.: [Permanent Account No.] |
AAJCS0638L |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
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|
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Line of Business
: |
Manufacturer of Cotton Bandings and Hospital Requisites, Bleachers or
Dyers and makers of Vitriol, Bleaching and Dyeing Materials. |
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|
|
|
No. of Employees
: |
Not Divulged |
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 |
|
Maximum Credit Limit : |
USD 430000 |
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|
Status : |
Moderate |
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|
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Payment Behaviour : |
Slow |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate track. The company possesses a stretched financial profile marked by weak
capitalization as well as coverage indicators largely on account of
significant debt funded capital expenditure. Further, the liquidity position is strained due to high working
capital requirements coupled with high interest charges and debt repayments. However, trade relations seems to be improving. Business is active.
Payment terms are reported as slow but correct. In view of long standing experience of promoters, the subject can be
considered for business dealings with great caution. |
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 – March 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
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
US investment bank
Goldman Sachs has upgraded its outlook on Indian markets as it expects
positive impact of the election cycle.
India’s economy may
grow 4.7 % in the current financial year, lower than the official estimate of
4.9 %, Fitch Rating said. The global rating agency expects the economy to pick
up in the next two financial years.
Global ratings
agency Standard & Poor said increasing focus by India Inc on lowering debt
is likely to improve their credit profiles.
Singapore (1.1 million
Indian tourists in 2012), Thailand (one million), the United Arab Emirates
().98 million) and Malaysia ().82 million) emerged as the preferred holidays
hotspots for Indians. The total figure is expected to increase to 1.93 million
by 2017, according to the latest Eurmonitor international report.
There is a $29.34 bn
outward foreign direct investment by domestic companies between April and
January of 2013/14 which has seen some signs of recovery according to a Care
Ratings report.
There are 264 number
of new companies being set up every day on average during 2014. Most of them
are registered in Mumbai. India had 1.38 million registered companies at the
end of January, 2014.
Twitter like
messaging service Weibo Corporation has filed to raise $ 500 million via a US
initial public offering. Alibaba, which owns a stake in Weibo is expected to
raise about $ 15 billion New York this year in the highest profile Internet IPO
since Facebook’s in 2012.
Bharti Airtel has
raised Rs.2,453.2 crore (350 million Swiss Francs) by selling six-year bonds at
a coupon rate of three per cent and maturing in 2020. This is the largest ever
bond offering by an Indian company in Swiss Francs. Bharat Petroleum
Corporation raised 175 million Swiss Francs by selling five year bonds at 2.98
% coupon rate in February.
Indian Oil
Corporation plans to invest Rs 7650 crore in setting up a petrochemical complex
at its almost complete Paradip refinery in Odhisha in three to four years. The
company board is set to consider the setting up of a 700000 tonne per annum
polypropylene plant at an estimated cost at Rs.3150 crore.
Global chief
information officers at gathering in Bangalore in April to meet Indian startups
at an event called Tech50 Watchout for Little Eye Labs-Facebook type deals in
the making.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
|
Rating |
Long Term Loans “C+” |
|
Rating Explanation |
Poor credit quality and limited prospects of recovery |
|
Date |
December, 2013 |
|
Rating Agency Name |
ICRA |
|
Rating |
Short Term Fund Based Facilities “A4” |
|
Rating Explanation |
Minima degree of safety and very high credit risk. |
|
Date |
December, 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 DENIED BY
|
Name : |
Mr. Muthu Raj |
|
Designation : |
Company Secretary |
|
Contact No.: |
91-9994103021 |
|
Date : |
04.06.2014 |
LOCATIONS
|
Registered Office : |
1109 - E, Srivilliputtur Road, Rajapalayam – 626117, Tamilnadu, India |
|
Tel. No.: |
91-4563-230096 |
|
Mobile No.: |
91-9994103021 (Mr. Muthu Raj) |
|
Fax No.: |
Not Available |
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E-Mail : |
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Factory : |
NH 208, Madurai Road, T Kunnathur Village, Peraiyur Taluka, District Madurai,
Tamilnadu, India |
DIRECTORS
As on: 30.09.2013
|
Name : |
Mr. Saravanakumar Alagarsamy |
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|
Designation : |
Chairman cum Managing Director |
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|
Address : |
Old No. 41-A, New No. 152, Sevalpatti South Street, Virudhunagar, Rajapalayam
– 626117, Tamilnadu, India. |
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|
Date of Birth/Age : |
28.08.1973 |
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Date of Appointment : |
24.04.2010 |
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PAN No.: |
AHNPS9280J |
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DIN No.: |
00604765 |
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Other Directorship :
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Name : |
Mrs. Ramapriya Saravanakumar |
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|
Designation : |
Director |
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|
Address : |
Old No. 41-A, New No. 152, Sevalpatti South Street, Virudhunagar,
Rajapalayam – 626117, Tamilnadu, India. |
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|
Date of Birth/Age : |
03.03.1976 |
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Date of Appointment : |
11.02.2004 |
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PAN No.: |
ABWPR7929L |
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DIN No.: |
00608381 |
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Other Directorship :
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|
||||||||||||||||||||||||||||||||||||
|
Name : |
Mrs. Bagyam Venkadasamy Naidu |
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|
Designation : |
Director |
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|
Address : |
Old No. 41-A, New No. 152, Sevalpatti South Street, Virudhunagar,
Rajapalayam – 626117, Tamilnadu, India. |
||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
10.09.1933 |
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|
Date of Appointment : |
11.02.2004 |
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DIN No.: |
02464231 |
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Other Directorship :
|
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KEY EXECUTIVES
|
Name : |
Mr. Muthu Raj |
|
Designation : |
Company Secretary |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 30.09.2013
SHAREHOLDER DETAILS FILE ATTACHED
Equity Share Break up (Percentage of Total Equity)
As on: 30.09.2013
|
Category |
|
Percentage |
|
|
|
|
|
Directors or relatives of directors |
|
100.00 |
|
|
|
|
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Cotton Bandings and Hospital Requisites, Bleachers or
Dyers and makers of Vitriol, Bleaching and Dyeing Materials. |
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Products : |
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GENERAL INFORMATION
|
No. of Employees : |
Not Divulged |
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Bankers : |
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Facilities : |
(Rs.
In Millions)
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
K.V. Raman Chartered Accountant |
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Address : |
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PAN No.: |
ABWPL7929L |
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Related Parties : |
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CAPITAL STRUCTURE
As on: 30.09.2013
Authorised Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
7750000 |
Equity Shares |
Rs.10/- each |
Rs.77.500 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
7500000 |
Equity Shares |
Rs.10/- each |
Rs.75.000
Millions |
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|
|
|
|
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 |
75.000 |
75.000 |
75.000 |
|
(b) Reserves & Surplus |
32.588 |
13.063 |
56.530 |
|
(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) |
107.588 |
88.063 |
131.530 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a)
long-term borrowings |
530.011 |
639.862 |
696.742 |
|
(b) Deferred tax
liabilities (Net) |
0.775 |
0.775 |
0.775 |
|
(c)
Other long term liabilities |
0.000 |
0.000 |
0.240 |
|
(d)
long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total
Non-current Liabilities (3) |
530.786 |
640.637 |
697.757 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
292.413 |
320.660 |
269.372 |
|
(b)
Trade payables |
140.234 |
37.217 |
100.611 |
|
(c)
Other current liabilities |
86.428 |
9.801 |
10.615 |
|
(d)
Short-term provisions |
9.900 |
6.633 |
6.633 |
|
Total
Current Liabilities (4) |
528.975 |
374.311 |
387.231 |
|
|
|
|
|
|
TOTAL |
1167.349 |
1103.011 |
1216.518 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
591.183 |
659.514 |
714.072 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
(iv) Intangible assets under
development |
0.000 |
0.000 |
0.000 |
|
(b)
Non-current Investments |
0.105 |
0.000 |
0.000 |
|
(c)
Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
64.991 |
48.673 |
39.074 |
|
(e)
Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
656.279 |
708.187 |
753.146 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
221.069 |
109.328 |
150.776 |
|
(c)
Trade receivables |
206.720 |
158.175 |
170.863 |
|
(d)
Cash and cash equivalents |
5.319 |
5.394 |
6.080 |
|
(e)
Short-term loans and advances |
77.962 |
121.927 |
135.653 |
|
(f)
Other current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
511.070 |
394.824 |
463.372 |
|
|
|
|
|
|
TOTAL |
1167.349 |
1103.011 |
1216.518 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
1637.585 |
1086.970 |
1174.576 |
|
|
|
Other Income |
NA |
NA |
NA |
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
202.989 |
128.051 |
173.979 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
95.043 |
100.549 |
78.106 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
107.946 |
27.502 |
95.873 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
82.886 |
70.968 |
72.892 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX |
25.060 |
(43.466) |
22.981 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
5.535 |
0.000 |
4.500 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX |
19.525 |
(43.466) |
18.481 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
(42.034) |
1.432 |
(2.049) |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
0.000 |
0.000 |
15.000 |
|
|
BALANCE CARRIED
TO THE B/S |
(22.509) |
(42.034) |
1.432 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
CIF Value of Export Earnings |
154.887 |
179.723 |
NA |
|
|
|
FOB Value of Export Earnings |
153.319 |
176.866 |
NA |
|
|
|
|
|
|
|
|
|
IMPORTS |
0.000 |
0.000 |
NA |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
2.60 |
(5.80) |
2.46 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
Net Profit Margin (PBT/Sales) |
(%) |
1.53 |
(4.00) |
1.96 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.15 |
(3.94) |
1.89 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.23 |
(0.49) |
0.17 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
7.64 |
10.91 |
7.35 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.97 |
1.05 |
1.20 |
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 |
75.000 |
75.000 |
75.000 |
|
Reserves & Surplus |
56.530 |
13.063 |
32.588 |
|
Net worth |
131.530 |
88.063 |
107.588 |
|
|
|
|
|
|
long-term borrowings |
696.742 |
639.862 |
530.011 |
|
Short term borrowings |
269.372 |
320.660 |
292.413 |
|
Total borrowings |
966.114 |
960.522 |
822.424 |
|
Debt/Equity ratio |
7.345 |
10.907 |
7.644 |
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 |
1174.576 |
1086.970 |
1637.585 |
|
|
|
(7.459) |
50.656 |
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 |
1174.576 |
1086.970 |
1637.585 |
|
Profit / (Loss) |
18.481 |
(43.466) |
19.525 |
|
|
1.57% |
(4.00%) |
1.19% |
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 |
No |
|
34] |
External Agency Rating, if available |
Yes |
OPERATION
The performance during the year had been satisfactory. The gross turnover has improved much higher at Rs.1637.585 Millions from Rs.1086.970 Millions of the previous year. The Profit before Depreciation and Interest is Rs.202.989 Millions as compared to the previous year profit of Rs.128.051 Millions. The brief financial parameters are as under.
FINANCIAL RESULT
The year the company had been satisfactory by successful implementation of dedicated power feeder line from TNEB and timely decision taken by the directors to purchase power from power exchange, private power suppliers and wind mills have resulted in operation of the unit at optimum utilization level by tide over from the power crisis. Further by control of various cost reduction measures and production of flexible count pattern with more value added yarn and continuous efforts taken by the directors in the current market scenario has resulted in a net profit of Rs.19.525 Millions during the year.
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10051711 |
02/05/2012 * |
375,600,000.00 |
BANK OF INDIA |
402, TENKASI ROAD, RAJAPALAYAM - 626117, TAMILNADU INDIA |
B39620570 |
|
2 |
90287092 |
31/12/2011 * |
666,800,000.00 |
BANK OF BARODA |
402, TENKASI ROAD, RAJAPALAYAM - 626117, TAMILNADU INDIA |
B30856348 |
* Date of charge modification
FIXED ASSETS
- Land
- Buildings
- Plant and
Machinery
- Weighing
Machines
- Electrical
Machinery
- Generator
- Furniture and
Fixtures
- Vehicles
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 records 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.59.30 |
|
|
1 |
Rs.99.34 |
|
Euro |
1 |
Rs.80.70 |
INFORMATION DETAILS
|
Information
Gathered by : |
NYA |
|
|
|
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
VNK |
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.