MIRA INFORM REPORT
|
Report Date : |
05.03.2014 |
IDENTIFICATION DETAILS
|
Name : |
SHANMUGA HAIR PRODUCTS (INDIA) PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
No.199/200, 1st Main Road, K. K. R. Garden, Madhavaram,
Chennai-600060, Tamil Nadu. |
|
|
|
|
Country : |
India |
|
|
|
|
Financial (as
on) |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
18.09.2007 |
|
|
|
|
Com. Reg. No.: |
18-064785 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs. 15.000 Millions. |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74999TN2007PTC064785 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
CHES28557E |
|
|
|
|
PAN No.: [Permanent Account No.] |
AALCS1782M |
|
|
|
|
Legal Form : |
Private Limited Liability Company. |
|
|
|
|
Line of Business
: |
Manufacturer, Trader, Dealer and Exporter of Human Hair, Natural Hair,
Weft Hair, Human Hair Wigs, Human Hair Extensions etc. |
|
|
|
|
No. of Employees
: |
100 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (27) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 72000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having moderate track record. The company possesses a weak financial profile marked by a small
networth and limited scale of operation. Furthermore, the increase in input material prices has resulted in
lower profitability. However, trade relations are appear to be fair. Business is active.
Payment terms are reported as slow. In view of promoters extensive, experience, the subject can be
considered for business dealing with grate 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 – December 1, 2013
|
Country Name |
Previous Rating (30.09.2013) |
Current Rating (01.12.2013) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
The worst is over for India’s economy with gross domestic product likely
to expand 5 %to 5.5 % this year and more than 6 % in 2015, according to Moody’s
Analytics. Concerns over the rupee and current account deficit are under
control, said the agency. Ratings firm Crisil has forecast 6 % growth for
2014/15 up from the estimated 4.8 % for 2013/14. Total economic growth,
infrastructure bottlenecks and lack of transparency and consistency in foreign
direct investment policies seem to have taken a toll on India’s attractiveness
as an investment destination, says an Ernst & Young survey. Projects
with FDI component fell 16.4 % across the globe in 2012 from the previous
year. The drop in India was steeper at 21 %. State run carrier Air India
is doling out free tickets to its 24000 employees, even as it expects to incur
a loss of Rs 39000 mn this financial year and has a debt of Rs 350000 mn.
550000 number of jobs generated across India in 2013, a fall of 0.4 % as
compared to with a year earlier. The National Capital Region has a
one-fourth share in total jobs created, according to a study by industry lobby
group Assochem, Banks, real estate, automobile and telecommunications sectors
are showing a rise of job creation. $ 805 mn investments by venture capital firms
in India during 2013, registering a drop of about 18 % over the previous year.
The Information Technology and IT-Enabled Services Industry retained its
status as the favourable venture capital investors in 2013. Pakistan has
temporarily banned gold imports for the second time in six months, as it tries
to stem smuggling into India. India’s import duty on gold is 10 % and curbs on
purchases have dried up legal imports into what used to be the world’s biggest
bullion buyers. The World Gold Council puts the amount smuggled into India at
upto 200 tonnes in 2013. The Reserve Bank of India has proposed that unclaimed
bank deposits estimated to be about Rs 35000 mn be used for education and
awareness among depositors. According to the plan, deposits that have not
been claimed for at least 10 years will be transferred to the scheme.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long Term Rating = B+ |
|
Rating Explanation |
High risk of default regarding timely servicing of financial obligation.
|
|
Date |
11.12.2012 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short Term Rating = A4 |
|
Rating Explanation |
Minimal degree of safety and very high credit risk. |
|
Date |
11.12.2012 |
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. Kartik |
|
Designation : |
Manager |
|
Contact No.: |
91-9941944294 |
|
Date : |
26.02.2014 |
LOCATIONS
|
Registered Office : |
No.199/200, 1st Main Road, K. K. R. Garden, Madhavaram,
Chennai-600060, Tamil Nadu, India |
|
Tel No: |
91-44-25550018 / 25554771 |
|
Mobile No: |
91-9941944294 (Mr. Kartik) |
|
Fax No: |
Not Available |
|
E-Mail : |
|
|
Website : |
|
|
Location: |
Owned |
|
|
|
|
Factory 1 : |
No.41, Old Milk Colony Road, Kodungalyur, Chennai-600118, Tamil Nadu,
India |
|
Tel. No.: |
91-44-25550018 / 25554771 |
|
Fax No.: |
91-44-25554678 |
|
Location: |
Owned |
|
Area: |
5000 Sq.ft |
DIRECTORS
As on 30.09.2013
|
Name : |
Ms. Bandi Prathibha Jyothi |
|
Designation : |
Managing Director |
|
Address : |
No.199/200, 1st Main Road, K. K. R. Garden, Madhavaram,
Chennai-600060, Tamil Nadu, India |
|
Date of Birth/Age : |
29.05.1979 |
|
Date of Appointment: |
18.09.2007 |
|
DIN No : |
01652654 |
|
|
|
|
Name : |
Mr. Bandi Kanaka Murli Krishna |
|
Designation : |
Director |
|
Address : |
No.199/200, 1st Main Road, K. K. R. Garden, Madhavaram,
Chennai-600060, Tamil Nadu, India |
|
Date of Birth/Age : |
05.06.1977 |
|
Date of Appointment: |
18.09.2007 |
|
DIN No : |
01636685 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2013
|
Name
of Shareholders |
No.
of Shares |
%age |
|
|
481,663 |
32.11 |
|
|
1,018,337 |
67.89 |
|
Total |
1,500,000 |
100.00 |
%20PRIVATE%20LIMITED%20-%20253637%2005-Mar-2014_files/image016.gif){kind=small}
%20PRIVATE%20LIMITED%20-%20253637%2005-Mar-2014_files/image017.gif){kind=small}
%20PRIVATE%20LIMITED%20-%20253637%2005-Mar-2014_files/image019.gif)
As on 30.09.2013
Equity Shares Break-up
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer, Trader, Dealer and Exporter of Human Hair, Natural Hair,
Weft Hair, Human Hair Wigs, Human Hair Extensions etc. |
|
|
|
|
Products : |
|
|
|
|
|
Exports : |
|
|
Products : |
Human Hair |
|
Countries : |
|
|
|
|
|
Terms : |
|
|
Selling : |
L/C |
|
|
|
|
Purchasing : |
L/C and advance |
GENERAL INFORMATION
|
Customers : |
|
|
|
|
|
No. of Employees : |
100 (Approximately) |
|
|
|
|
Bankers : |
|
|
|
|
|
Facilities : |
Cash Credit = Rs. 60.000 Millions [From State Bank of Hyderabad] |
|
|
|
|
Banking
Relations : |
--- |
|
|
|
|
Auditors : |
|
|
Name : |
Moorthy and Rajan Chartered Accountant |
|
Address : |
No.16./4, Vidyodaya First Cross Street, T. Nagar, Chennai – 6000017,
Tamil Nadu, India. |
|
Mobile No.: |
91-9025366444 |
|
E-Mail : |
|
|
PAN No: |
AAAFM8538P |
CAPITAL STRUCTURE
As on 30.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1500000 |
Equity Shares |
Rs.10/- each |
Rs. 15.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1500000 |
Equity Shares |
Rs.10/- each |
Rs. 15.000 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 |
15.000 |
15.000 |
13.695 |
|
(b) Reserves & Surplus |
3.024 |
2.489 |
1.554 |
|
(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) |
18.024 |
17.489 |
15.249 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
4.088 |
6.185 |
0.000 |
|
(b) Deferred tax liabilities
(Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total
Non-current Liabilities (3) |
4.088 |
6.185 |
0.000 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
38.287 |
13.391 |
29.235 |
|
(b) Trade payables |
2.405 |
0.781 |
5.465 |
|
(c) Other current liabilities |
17.248 |
2.191 |
0.000 |
|
(d) Short-term provisions |
0.228 |
0.099 |
2.584 |
|
Total
Current Liabilities (4) |
58.168 |
16.462 |
37.284 |
|
|
|
|
|
|
TOTAL |
80.280 |
40.136 |
52.533 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
9.780 |
12.503 |
11.163 |
|
(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 |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
0.000 |
0.000 |
0.000 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
9.780 |
12.503 |
11.163 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
56.040 |
24.035 |
10.600 |
|
(c) Trade receivables |
9.696 |
1.645 |
7.462 |
|
(d) Cash and cash equivalents |
1.192 |
1.083 |
10.446 |
|
(e) Short-term loans and
advances |
3.367 |
0.665 |
12.831 |
|
(f) Other current assets |
0.205 |
0.205 |
0.031 |
|
Total
Current Assets |
70.500 |
27.633 |
41.370 |
|
|
|
|
|
|
TOTAL |
80.280 |
40.136 |
52.533 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Sales |
136.665 |
147.791 |
150.000 |
|
|
|
Other Income |
NA |
NA |
NA |
|
|
|
TOTAL (A) |
NA |
NA |
NA |
|
|
|
|
|
||
|
Less |
EXPENSES |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (C) |
7.522 |
6.355 |
6.888 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
4.565 |
3.363 |
3.826 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
2.957 |
2.992 |
3.062 |
|
|
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION (F) |
1.933 |
1.630 |
1.828 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F) (G) |
1.024 |
1.362 |
1.234 |
|
|
|
|
|
|
|
|
|
Less |
TAX
(I) |
0.489 |
0.428 |
0.486 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-I)
(J) |
0.535 |
0.934 |
0.748 |
|
|
|
|
|
|
|
|
|
|
EARNINGS
IN FOREIGN CURRENCY |
|
|
|
|
|
|
F.O.B. Value of Exports |
153.753 |
153.753 |
NA |
|
|
|
TOTAL
EARNINGS |
153.753 |
153.753 |
NA |
|
|
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.10/-each) |
0.36 |
0.62 |
NA |
|
Expected Sales (2013-14): Rs.140.000 Millions
The above information has been parted by Mr. Kartik (Manager).
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
Net Profit Margin (PBT/Sales) |
(%) |
0.75 |
0.92 |
0.82 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.28 |
3.39 |
2.35 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.06 |
0.08 |
0.08 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.92 |
1.12 |
2.35 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.21 |
1.68 |
1.11 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(INR
in Mlns.) |
(INR
in Mlns.) |
(INR
in Mlns.) |
|
Share Capital |
13.695 |
15.000 |
15.000 |
|
Reserves & Surplus |
1.554 |
2.489 |
3.024 |
|
Net
worth |
15.249 |
17.489 |
18.024 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
6.185 |
4.088 |
|
Short term borrowings |
29.235 |
13.391 |
38.287 |
|
Total
borrowings |
29.235 |
19.576 |
42.375 |
|
Debt/Equity
ratio |
1.917 |
1.119 |
2.351 |
%20PRIVATE%20LIMITED%20-%20253637%2005-Mar-2014_files/image021.gif)
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(INR
in Mlns) |
(INR
in Mlns) |
(INR
in Mlns) |
|
Sales |
150.000 |
147.791 |
136.665 |
|
|
|
(1.473) |
(7.528) |
%20PRIVATE%20LIMITED%20-%20253637%2005-Mar-2014_files/image023.gif)
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(INR
in Mlns) |
(INR
in Mlns) |
(INR
in Mlns) |
|
Sales |
150.000 |
147.791 |
136.665 |
|
Profit |
0.748 |
0.934 |
0.535 |
|
|
0.50% |
0.63% |
0.39% |
%20PRIVATE%20LIMITED%20-%20253637%2005-Mar-2014_files/image025.gif)
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 |
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 |
Yes |
|
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) |
Yes |
|
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
Borrowing |
|
|
|
State Bank f
Hyderabad Term Loan |
3.033 |
4.685 |
|
ICICI Cr Loan |
1.055 |
1.500 |
|
Short Term Borrowing |
|
|
|
State bank of
Hyderabad – 8069 Over Draft |
38.287 |
13.127 |
|
|
0.000 |
0.095 |
|
|
0.000 |
0.160 |
|
Total |
42.375 |
19.567 |
INDEX OF CHARGE:
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10187369 |
08/11/2011 * |
65,294,000.00 |
State Bank of
Hyderabad |
Chennai Main
Branch,, 45, 2nd Line Beach,, Chennai, Tamil Nadu - 600001, INDIA |
B25096371 |
* Date of charge modification
FIXED ASSETS:
- New factory
Building
- Machinery
- Inverter
- Plastic Tube
- Air
Conditioner
- Benz Car
- CC.TV
- Cellphone
- Computers
- Fax Machine
- Epabx
- Generator
- Hero Honda
- Furniture and
Fixtures
- Office
equipment
- Refrigerators
- Weighing
Scale
- Vacuum
Cleaner
- Vehicles
- Car-Lanson
- Electrical
Fittings
- Solar Water
Heater
- Toyota
Fortuner
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.61.86 |
|
|
1 |
Rs.103.52 |
|
Euro |
1 |
Rs.85.31 |
INFORMATION DETAILS
|
Information
Gathered by : |
PRT |
|
|
|
|
Report Prepared
by : |
ART |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
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 |
2 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
27 |
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.