MIRA
INFORM REPORT
|
Report Date : |
13.03.2014 |
IDENTIFICATION DETAILS
|
Name : |
M. SURESH JEWELLERY PRIVATE LIMITED (w.e.f. 23.10.2003) |
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Formerly Known
As : |
ZEROTH JEWELLERY PRIVATE LIMITED (w.e.f. 12.09.2003) ZEROTH FINANCE PRIVATE LIMITED |
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Registered
Office : |
Plot No.18, SEEPZ Sez, Andheri (East), Mumbai – 400096, Maharashtra |
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Country : |
India |
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Financials (as
on) : |
31.03.2011 |
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Date of
Incorporation : |
11.08.1994 |
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Com. Reg. No.: |
11-080302 |
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Capital
Investment / Paid-up Capital : |
Rs.5.000 Millions |
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CIN No.: [Company Identification
No.] |
U65920MH1994PTC080302 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer and Exporter of Diamond Studded Gold Jewellery. |
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No. of Employees
: |
300 [Approximately] |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (47) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having satisfactory track record.
Management of the company has failed to file its financials of 2012 and 2013
with government department. Mr. Manoj Shah, CA provided general information and also informed that
company has achieved sales turnover of 800.000 Millions in FY 2011-12 and
900.000 Millions in FY 2012-13, which is not verified. Rating also takes into consideration M. Suresh group’s established
market position in diamonds and jewellery industry, established relationship
with customers and healthy financial risk profile. Trade relation reported to be fair. Business is active. Payment terms
are reported to be usually correct. The company can be considered for business dealing at usual trade
terms and conditions. NOTE: Rating is based
on information taken from external source (Crisil Website) |
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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 (30.06.2013) |
Current Rating (30.09.2013) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
State-run banks hired nearly 300000
personnel including more than 94000 officers in the last four years, according
to the Indian Banks Association. A study by trade lobby Assocham in September
2013 indicated that banks would need 800000 people in the next six years. It
estimated that state-run lenders alone would hire 50000 people in 2013/14.
The Competition Commission of
India plans to issue final orders within a broad time-frame of one year in
matters where it decides to carry out detailed investigations. The number of complaints
received by the watchdog which keeps tabs on unfair trade practices in the
marketplace.
The government has detected
custom tax evasion totaling around Rs 37920 mn in 14 states until December.
Maharashtra topped the list of Rs 14190 mn followed by Andhra Pradesh at Rs
8140 mn, Gujarat Rs 5240 mn, Karnataka Rs 1670 mn and Tamilnadu Rs 1610 mn.
Connaught Place in New Delhi
slipped four notches to become the world’s eighth most expensive office
locations. London’s West End is the world’s most expensive office market.
There are 4.072 mn number of
high value spenders under the scanner of the income tax department. The income
tax department has information that they have made cash deposits announcing to
Rs 1 mn or more in their savings bank accounts in the current financial year.
It plans to check potential evasion before the closing of the financial year on
March 31.
Estimated pharmaceutical sales
in the country for 2016 is $ 27 bn. It is 14.4 per cent higher than a year ago.
The life sciences and health care industry is up against challenges such as
quality management, says a recent Deloitte report.
The gross non-performing assets
of listed banks rose 35.2 % to Rs 2.43 lakh crore during the first three months
of the financial year. In absolute terms, the 40 listed banks added Rs 3386
crore to their gross NPAs in nine months with the State Bank of India leading
with the State Bank of India leading with an accretion of Rs 16610 crore.
The inflow of smuggled gold
doubled in 2013 following restrictions to curb the supply from official
channels to contain the current account deficit. China surpassed India in the
demand for gold for the first time in 2013 due to liberalization of gold
trading norms by its local governments.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
A – [Long Term] |
|
Rating Explanation |
Adequate Degree of Safety & Low Credit Risk |
|
Date |
09.03.2013 |
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 PARTED BY
|
Name : |
Mr. Manoj Shah |
|
Designation : |
Accounts Department |
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Contact No.: |
91-9820364850 |
LOCATIONS
|
Registered Office/ Factory : |
Plot No.18, SEEPZ Sez, Andheri (East), Mumbai – 400096,
Maharashtra, India |
|
Tel. No.: |
91-22-28292111/ 28290464 |
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Fax No.: |
91-22-28292888/ 28290157 |
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E-Mail : |
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Website : |
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Area : |
1 Lac Sq. Ft. |
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Location : |
Owned |
DIRECTORS
AS ON: 30.09.2011
|
Name : |
Mr. Lalitbhai Chunilal Adani |
|
Designation : |
Director |
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Address : |
3-B, Swapnalok, L. J. Marg, Nepeansea Road, Mumbai – 400036, Maharashtra, India |
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Date of Birth/Age : |
24.02.1958 |
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Date of Appointment : |
13.02.2003 |
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DIN No.: |
00014169 |
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Name : |
Mr. Manish Rameshchandra Pethani |
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Designation : |
Director |
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Address : |
1901/02, Chandanbala Apartment, Ratilal Thakker Marg, Wlkeshwar, Mumbai – 400006, Maharashtra, India |
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Date of Birth/Age : |
13.06.1966 |
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Date of Appointment : |
13.02.2003 |
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DIN No.: |
00014011 |
KEY EXECUTIVES
|
Name : |
Mr. Manoj Shah |
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Designation : |
Accounts Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2011
|
Name
of Shareholders |
No.
of Shares |
%age |
|
Lalit C. Adani |
43040 |
8.61 |
|
Manish R. Pethani |
31200 |
6.24 |
|
Paresh R. Pethani |
59750 |
11.95 |
|
Vijay C. Adani |
27000 |
5.40 |
|
Nitin C. Adani |
27000 |
5.40 |
|
M. Suresh Company Private Limited, India |
10 |
0.00 |
|
Apex Diamond Export Private Limited, India |
86000 |
17.20 |
|
M. Suresh Exports Private Limited, India |
226000 |
45.20 |
|
Total |
500,000 |
100.00 |
Equity Share Break up (Percentage of Total Equity)
AS ON 30.09.2011
|
Category |
|
Percentage |
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|
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Bodies corporate |
|
62.40 |
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Directors or relatives of directors |
|
37.60 |
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Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Diamond Studded Gold Jewellery. |
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Exports : |
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Products : |
100% Export |
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Countries : |
·
USA ·
UAE ·
Australia |
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Imports : |
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Products : |
Polish Diamonds |
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Countries : |
·
USA ·
UAE ·
Australia |
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Terms : |
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Selling : |
Direct Bill |
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Purchasing : |
Open Bill |
PRODUCTION STATUS
|
Particulars |
As
on : 31.03.2011 |
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Licensed Capacity |
NA |
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Installed Capacity |
NA |
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Actual Production |
79174 Pcs |
GENERAL INFORMATION
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Suppliers : |
Shayana Germ LLC, UAE |
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Customers : |
Wholesalers and Retailers SDC Designer LLC, USA |
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No. of Employees : |
300 [Approximately] |
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Bankers : |
· Bank of India, SEEPZ Branch, SEEPZ, Andheri-East, Mumbai - 400096, Maharashtra, India Tel No.: 91-22-28292944 Contact Person: Mr. Mahesh Walawalkar [Chief Manager] He rated company as very good. · State Bank of India, SEEPZ, Andheri (East), Mumbai - 400096, Maharashtra, India |
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Facilities : |
(Rs.
In Millions)
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Jain and Kachhawaha Chartered Accountants |
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Address : |
Office No. 26, 47, Dr. M. B. Welkar Street, Mumbai – 400002,
Maharashtra, India |
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PAN No.: |
AADFJ5486A |
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Enterprise where
control of Key Management Personnel and/or their relatives exists : |
·
M. Suresh Company Private Limited ·
M. Suresh Export Private Limited ·
Concept Jewellery (India) Private Limited ·
C.I. Jewels Private Limited ·
Apex Diamond Exports Private Limited ·
M. Suresh Company DMCC ·
Niyyati Exports Private Limited ·
RSB Developers Private Limited ·
Shree Gaurishankar Investments Private Limited ·
Litolier Marketing Private Limited |
CAPITAL STRUCTURE
As on: 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
750000 |
Equity Shares |
Rs.10/- each |
Rs.7.500 Millions |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
|
|
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|
500000 |
Equity Shares |
Rs.10/- each |
Rs.5.000
Millions |
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FINANCIAL DATA
[all figures are in
Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
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|
SHAREHOLDERS FUNDS |
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|
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1] Share Capital |
5.000 |
5.000 |
5.000 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
1672.052 |
1550.714 |
1415.666 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
1677.052 |
1555.714 |
1420.666 |
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LOAN FUNDS |
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|
1] Secured Loans |
97.066 |
183.421 |
128.382 |
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2] Unsecured Loans |
46.400 |
0.000 |
0.000 |
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TOTAL BORROWING |
143.466 |
183.421 |
128.382 |
|
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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|
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TOTAL |
1820.518 |
1739.135 |
1549.048 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
130.296 |
131.636 |
138.409 |
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Capital work-in-progress |
0.756 |
0.756 |
0.756 |
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INVESTMENT |
769.170 |
452.594 |
299.151 |
|
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DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
49.833
|
94.436 |
93.424 |
|
|
Sundry Debtors |
168.419
|
291.260 |
361.168 |
|
|
Cash & Bank Balances |
1.857
|
1.844 |
3.379 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
878.127
|
927.726 |
936.497 |
|
Total
Current Assets |
1098.236
|
1315.266 |
1394.468 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
102.924
|
110.925 |
260.331 |
|
|
Other Current Liabilities |
6.749
|
5.825 |
6.901 |
|
|
Provisions |
68.267
|
44.367 |
16.504 |
|
Total
Current Liabilities |
177.940
|
161.117 |
283.736 |
|
|
Net Current Assets |
920.296
|
1154.149 |
1110.732 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
1820.518 |
1739.135 |
1549.048 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
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SALES |
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|
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|
|
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|
Other Income |
|
|
|
|
|
|
TOTAL |
NA |
NA |
NA |
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|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
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TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
153.908 |
171.566 |
348.627 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
8.670 |
8.657 |
8.368 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
145.238 |
162.909 |
340.259 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
23.900 |
27.900 |
14.993 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
121.338 |
135.009 |
325.266 |
|
|
|
|
|
|
|
|
|
|
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
1334.770 |
1278.504 |
913.569 |
|
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|
|
|
|
|
|
|
|
PRIOR PERIOD
ADUSTMENT |
0.000 |
0.000 |
39.631 |
|
|
|
|
|
|
|
|
|
|
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
62.212 |
78.743 |
0.000 |
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
1393.896 |
1334.770 |
1278.466 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
923.061 |
1434.673 |
1332.555 |
|
|
TOTAL EARNINGS |
923.061 |
1434.673 |
1332.555 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
762.442 |
1267.546 |
967.227 |
|
|
|
Stores & Spares |
0.981 |
1.034 |
1.160 |
|
|
|
Capital Goods |
6.786 |
0.203 |
0.000 |
|
|
TOTAL IMPORTS |
770.209 |
1268.783 |
968.387 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
242.68 |
270.02 |
729.87 |
|
|
Particulars |
|
31.03.2013 |
31.03.2012 |
|
Sales Turnover [Approximately] |
|
900.000 |
800.000 |
Expected Sales (2013-14) : Rs.1250.000 Millions.
The above information has been parted by Mr. Manoj Shah.
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
Return on Total Assets (PBT/Total Assets} |
(%) |
11.82 |
11.26
|
22.20 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.09 |
0.10
|
0.24 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.09 |
0.12
|
0.24 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
6.17 |
8.16
|
4.91 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2009 |
31.03.2010 |
31.03.2011 |
|
|
(INR
in Mlns.) |
(INR
in Mlns.) |
(INR
in Mlns.) |
|
Share Capital |
5.000 |
5.000 |
5.000 |
|
Reserves & Surplus |
1415.666 |
1550.714 |
1672.052 |
|
Net
worth |
1,420.666 |
1,555.714 |
1,677.052 |
|
|
|
|
|
|
long-term borrowings |
128.382 |
183.421 |
97.066 |
|
Short term borrowings |
0.000 |
0 |
46.400 |
|
Total
borrowings |
128.382 |
183.421 |
143.466 |
|
Debt/Equity
ratio |
0.090 |
0.118 |
0.086 |
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 five 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 |
Yes |
|
17] |
Major suppliers |
Yes |
|
18] |
Major customers |
Yes |
|
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 |
No |
|
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 |
DIAMOND INDUSTRY –
INDIA
-
From time immemorial, India is well known in the
world as the birthplace for diamonds. It is difficult to trace the origin
of diamonds but history says that in the remote past, diamonds were mined only
in India. Diamond production in India can be traced back to almost 8th
Century B.C. India, in fact, remained undisputed leader till 18th
Century when Brazilian fields were discovered in 1725 followed by emergence of
S. Africa, Russia and Australia.
-
The achievement of the Indian diamond industry was
possible only due to combination of the manufacturing skills of the Indian
workforce and the untiring and unflagging efforts of the Indian diamantaires,
supported by progressive Government policies.
-
The area of study of family owned diamond
businesses derives its importance from the huge conglomerate of family run
organizations which operate in the diamond industry since many generations.
-
Some of the basic traits of family run business
enterprises include spirit of entrepreneurship, mutual trust lowers transaction
costs, small, nimble and quick to react, information as a source of advantage
and philanthropy.
-
Family owned diamond businesses need to improve on
many fronts including higher standard of corporate governance, long-term
performance – focused strategies, modern management and technology.
-
Utmost caution is to be exercised while dealing
with some medium and large diamond traders which are usually engaged in
fictitious import – export, inter-company transactions, financially assisted by
banks. In the process, several public sector banks lost several hundred million
rupees. They mostly diverted borrowed money for diamond business into real
estate and capital markets.
-
Excerpts from Times of India dated 30th
October 2010 is as under –
-
Gem and Jewellery Export Promotion Council in its
statistical data has shown the export of polished diamonds to have increase by
28 % in February 2013. Compared to $ 1.4 bn worth of polished diamond export in
February, 2012, India exported $ 1.84 billion worth of polished diamonds in
February 2013. A senior executive of GJEPC said, “Export of cut and polished
diamonds started falling month-wise after the imposition of 2 % of import duty
on the polished diamonds. But February, 2013 has given a new ray of hope to the
industry as the export of polished diamonds has actually increased by 28 %. It
means the industry is on the track of recovery and round tripping of
diamonds has stopped completely.” Demand has started coming from the US, the
UK, Japan and China. India’s polished diamond export is expected to cross $ 21
bn in 2013-14.
-
The banking sector has started exercising restraint
while following prudent risk management norms when lending money to gems and
jewellery sector. This follows the implementation of Basel III accord – a
global voluntary regulatory standard on bank capital adequacy, stress testing
and market liquidity.
Unsecured Loan
(Rs.
In Millions)
|
Particular |
As on 31.03.2011 |
As on 31.03.2010 |
|
From Director |
46.400 |
0.000 |
|
|
|
|
|
Total |
46.400 |
0.000 |
FIXED ASSETS
· Building
· Plant and Machinery
· Furniture and Fixtures
· Computers
· 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.61.09 |
|
|
1 |
Rs.101.59 |
|
Euro |
1 |
Rs.84.65 |
INFORMATION DETAILS
|
Report Prepared
by : |
SDA |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
47 |
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.