MIRA INFORM REPORT
|
Report Date : |
12.06.2014 |
IDENTIFICATION DETAILS
|
Name : |
WAVE DISTILLERIES AND BREWERIES LIMITED (w.e.f. 07.10.2010) |
|
|
|
|
Formerly Known
As : |
UBIO CHEMICALS LIMITED |
|
|
|
|
Registered
Office : |
60, Friends Colony (East), New Delhi – 110 065 |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
08.07.2008 |
|
|
|
|
Com. Reg. No.: |
55-180576 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs. 412.500
million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24110DL2008PLC180576 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
DELU03771F |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCU0335J |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer and Seller in Liquor and Beer. |
|
|
|
|
No. of Employees
: |
150 (Approximately) |
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 3300000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track record. Company has performed well in the year 2013 reflected by increase in
scale of operation and profitability. Rating also takes into account high regulatory risk given that alcohol
industry is highly regulated by government. Trade relations are reported to be fair. Business is active. Payments
are reported to be slow but correct. The company can be considered for business dealing at usual trade
terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – 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 |
Fund Based Limit: BB |
|
Rating Explanation |
Inadequate credit quality and high credit risk |
|
Date |
February 2014 |
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 PARTED BY
|
Name : |
Mr. Babish |
|
Contact No.: |
91-9654222243 |
|
Date : |
03.06.2014 |
LOCATIONS
|
Registered Office : |
60, Friends Colony (East), New Delhi – 110 065, India |
|
Tel. No.: |
91-11-47325529 |
|
Fax No.: |
91-11-47325589 |
|
E-Mail : |
|
|
|
|
|
Corporate Office : |
A-108, Sector-IV, District Gautam Budh Nagar, Noida – 201 301, Uttar Pradesh, India |
|
Tel. No.: |
91-120-4012513/ 4012345 |
|
Fax No.: |
91-120-4012366 |
|
|
|
|
Factory : |
Ramghat Road, Village Ahmedpura, Tehsil Atrauli, District Aligarh – 202 002, Uttar Pradesh, India |
DIRECTORS
AS ON 28.09.2013
|
Name : |
Mr. Iqbal Singh |
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|
Designation : |
Director |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Address : |
Dharam Shala Vali Gali, Locoshed, Moradabad – 244 001, Uttar Pradesh,
India |
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|
Date of Birth/Age : |
08.04.1962 |
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|
Date of Appointment : |
02.04.2009 |
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|
DIN No.: |
00029327 |
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Other
Directorship :
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|
Name : |
Mr. Surinder Singh Batra |
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|
Designation : |
Whole Time Director |
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|
Address : |
H. No.1, A.B. Sugars Limited, Village Randhawa, Post-Panwan, Tehsil-Dasuya,
District - Hoshiyarpur – 144 205, Punjab, India |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
03.07.1949 |
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|
Date of Appointment : |
01.04.2011 |
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|
DIN No.: |
02630367 |
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Other
Directorship :
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|
Name : |
Mr. Trilochan Singh |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Address : |
38/3, Avas Vikas, Haldwani, Nanital – 263 141, Uttarakhand, India |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
22.11.1955 |
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|
Date of Appointment : |
02.04.2009 |
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|
DIN No.: |
00071553 |
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Other
Directorship :
|
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MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As On 28.09.2013
|
Names of Shareholders |
|
No. of Shares |
|
M/s Chadha Holdings Private Limited, India |
|
41249994 |
|
Sanamdeep Singh Chadha (Nominee of Chadha Holdings Private Limited,
India) |
|
1 |
|
Rajinder Singh Chadha (Nominee of Chadha Holdings Private Limited,
India) |
|
1 |
|
Manpreet Singh Chadha (Nominee of Chadha Holdings Private Limited,
India) |
|
1 |
|
Jatinder Kaur (Nominee of Chadha Holdings Private Limited, India) |
|
1 |
|
Deenita Chadha (Nominee of Chadha Holdings Private Limited, India) |
|
1 |
|
Prakash Kaur (Nominee of Chadha Holdings Private Limited, India) |
|
1 |
|
Total |
|
41250000 |
Equity Share Break up (Percentage of Total Equity)
As On 28.09.2013
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Bodies
corporate |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Seller in Liquor and Beer. |
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|
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|
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|
Products : |
|
||||||||
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|
|
||||||||
|
Terms : |
|
||||||||
|
Selling : |
Cash and Credit |
||||||||
|
|
|
||||||||
|
Purchasing : |
Cash and Credit |
GENERAL INFORMATION
|
No. of Employees : |
150 (Approximately) |
||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||
|
Bankers : |
|
||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||
|
Facilities : |
SECURED LOANS
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Kansal Singla
and Associates Chartered Accountants |
|
Address : |
Sector-80-81, 4th
Floor, Sector-17C, Chandigarh, India |
|
PAN No..: |
AAAFK9144R |
|
|
|
|
Holding Company
: |
Chadha Holdings
Private Limited, India CIN No.:
U67120DL2005PTC139973 |
|
|
|
|
Associated
Companies and Firms : |
|
CAPITAL STRUCTURE
AS ON 28.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
45000000 |
Equity Shares |
Rs.10/- each |
Rs.450.000 millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
41250000 |
Equity Shares |
Rs.10/- each |
Rs.412.500
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 |
412.500 |
412.500 |
412.500 |
|
(b) Reserves & Surplus |
429.114 |
181.659 |
117.951 |
|
(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) |
841.614 |
594.159 |
530.451 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
1811.648 |
2015.694 |
1104.825 |
|
(b) Deferred tax liabilities (Net) |
123.844 |
108.715 |
69.2 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) Long-term
provisions |
5.220 |
4.011 |
2.053 |
|
Total Non-current
Liabilities (3) |
1940.712 |
2128.420 |
1176.078 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term
borrowings |
426.441 |
391.567 |
502.555 |
|
(b) Trade payables |
752.966 |
517.666 |
216.926 |
|
(c) Other current
liabilities |
841.855 |
532.459 |
183.713 |
|
(d) Short-term
provisions |
322.262 |
272.016 |
67.792 |
|
Total Current
Liabilities (4) |
2343.524 |
1713.708 |
970.986 |
|
|
|
|
|
|
TOTAL |
5125.850 |
4436.287 |
2677.515 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
2050.222 |
2230.966 |
972.177 |
|
(ii) Intangible Assets |
1.028 |
0.799 |
0.63 |
|
(iii) Capital
work-in-progress |
63.914 |
39.078 |
870.068 |
|
(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 |
16.349 |
15.696 |
0.000 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
2131.513 |
2286.539 |
1842.875 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
453.980 |
527.947 |
254.259 |
|
(c) Trade receivables |
1820.299 |
958.314 |
191.566 |
|
(d) Cash and cash
equivalents |
34.139 |
81.078 |
260.805 |
|
(e) Short-term loans
and advances |
427.488 |
426.833 |
92.195 |
|
(f) Other current
assets |
258.431 |
155.576 |
35.815 |
|
Total Current Assets |
2994.337 |
2149.748 |
834.640 |
|
|
|
|
|
|
TOTAL |
5125.850 |
4436.287 |
2677.515 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from operations |
3264.843 |
2749.328 |
2991.199 |
|
|
|
Other Income |
1.198 |
2.329 |
0.995 |
|
|
|
TOTAL (A) |
3266.041 |
2751.657 |
2992.194 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
1797.259 |
1781.775 |
1620.932 |
|
|
|
Changes in
inventories of finished goods, work-in-progress and stock-in-trade |
(11.278) |
(18.792) |
(73.118) |
|
|
|
Employee benefit expense |
160.045 |
124.771 |
90.681 |
|
|
|
Other expenses |
366.467 |
306.743 |
1043.509 |
|
|
|
TOTAL (B) |
2312.493 |
2025.369 |
2682.004 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
953.548 |
557.160 |
310.190 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
289.227 |
210.700 |
105.944 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
664.321 |
346.460 |
204.246 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
303.480 |
232.120 |
145.831 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE TAX
(E-F) (G) |
360.841 |
114.340 |
58.415 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
113.304 |
50.632 |
17.600 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
247.537 |
63.708 |
40.815 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
181.659 |
117.951 |
77.136 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
429.196 |
181.659 |
117.951 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
6.00 |
1.54 |
0.99 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
7.58 |
2.32 |
1.36 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
11.05 |
4.16 |
1.95 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
7.13 |
2.60 |
3.23 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.43 |
0.19 |
0.11 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
2.66 |
4.05 |
3.03 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.28 |
1.25 |
0.86 |
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 |
412.500 |
412.500 |
412.500 |
|
Reserves & Surplus |
117.951 |
181.659 |
429.114 |
|
Net
worth |
530.451 |
594.159 |
841.614 |
|
|
|
|
|
|
long-term borrowings |
1104.825 |
2015.694 |
1811.648 |
|
Short term borrowings |
502.555 |
391.567 |
426.441 |
|
Total
borrowings |
1607.380 |
2407.261 |
2238.089 |
|
Debt/Equity
ratio |
3.030 |
4.052 |
2.659 |
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 |
2991.199 |
2749.328 |
3264.843 |
|
|
|
(8.086) |
18.751 |
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 |
2991.199 |
2749.328 |
3264.843 |
|
Profit |
40.815 |
63.708 |
247.537 |
|
|
1.36% |
2.32% |
7.58% |
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 |
Yes |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
Yes |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact person |
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 |
No |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
Yes |
|
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 |
Yes |
Note:
The registered office of the company has been shifted from
IFB, Industrial Area, Cheema Chowk, Ludhiana- 141003, Punjab, India to present address
w.e.f. 30.12.2011
UNSECURED LOANS
|
Perticulars |
31.03.2013 (Rs.
in Millions) |
31.03.2012 (Rs.
in Millions) |
|
LONG-TERM BORROWINGS |
|
|
|
Inter Corporate Loans |
22.743 |
98.910 |
|
From Related Parties |
270.000 |
270.000 |
|
Total
|
292.743 |
368.910 |
FIXED ASSETS:
·
Freehold Land
·
Leasehold Land
·
Buildings
·
Plant and Machinery
·
Office Equipment
·
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 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.39.32 |
|
|
1 |
Rs.99.41 |
|
Euro |
1 |
Rs.80.32 |
INFORMATION DETAILS
|
Information
Gathered by : |
GYT |
|
|
|
|
Analysis Done by
: |
SUM |
|
|
|
|
Report Prepared
by : |
ASH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
4 |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTERS |
|
|
|
--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.