MIRA
INFORM REPORT
|
Report Date : |
22.05.2014 |
IDENTIFICATION DETAILS
|
Name : |
CREDO BRANDS MARKETING PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
K-5, 2nd Floor, |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of Incorporation : |
29.04.1999 |
|
|
|
|
Com. Reg. No.: |
11-119669 |
|
|
|
|
Capital Investment / Paid-up Capital : |
Rs.31.920 Millions |
|
|
|
|
CIN No.: [Company
Identification No.] |
U18101MH1999PTC119669 |
|
|
|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
MUMC11394F |
|
|
|
|
PAN No.: [Permanent
Account No.] |
AABCC5073H |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturing and trading of Fashion Casual Garments and accessories under the brand name MUFTI. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (50) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track record. Overall financial position of the company is sound and healthy. Trade relations are reported to be fair. Business is active. Payments
are reported to be usually 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 |
CARE |
|
Rating |
A+ (Long Term Bank Facilities) |
|
Rating Explanation |
Adequate degree of safety and low credit
risk. |
|
Date |
2 April, 2014 |
|
Rating Agency Name |
CARE |
|
Rating |
A1 (Short Term Bank Facilities) |
|
Rating Explanation |
Very strong degree of safety and lowest
credit risk. |
|
Date |
2 April, 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.
LOCATIONS
|
Registered Office : |
K-5, 2nd Floor, |
|
Tel. No.: |
91-22-61417200 |
|
Fax No.: |
91-22-61417200 |
|
E-Mail : |
|
|
Website : |
DIRECTORS
As on: 28.09.2013
|
Name : |
Mr. Kamal Dwarko Khuslani |
|
Designation : |
Director |
|
Address : |
701, |
|
Date of Birth/Age : |
25.09.1966 |
|
Date of Appointment : |
29.04.1999 |
|
PAN No.: |
AGZPK2918G |
|
DIN No. : |
00638929 |
|
|
|
|
Name : |
Mrs. Poonam Kamal Khuslani |
|
Designation : |
Director |
|
Address : |
701, |
|
Date of Birth/Age : |
10.08.1967 |
|
Date of Appointment : |
29.04.1999 |
|
PAN No.: |
AGRPK4749H |
|
DIN No. : |
01179171 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 28.09.2013
|
Names of Shareholders |
|
No. of Shares |
|
Kamal Khushlani |
|
904670 |
|
Poonam Khushlani |
|
1195319 |
|
Kavita Khushlani |
|
21600 |
|
Prashant J. Agarwal |
|
98512 |
|
Aman J.Agarwal |
|
98510 |
|
Jay M. Mehta |
|
98511 |
|
Sagar M. Mehta |
|
98511 |
|
Concept Communication Limited, India |
|
101613 |
|
Benett Coleman and Company Limited, India |
|
300000 |
|
Dharmayug Investments Limited, India |
|
22800 |
|
Harbir Singh Sidhu |
|
145592 |
|
Brand Equity Treaties Limited, India |
|
106399 |
|
|
|
|
|
Total |
|
3192037 |
Equity Share Break up (Percentage of Total Equity)
As on: 28.09.2013
|
Category |
|
Percentage |
|
Bodies corporate |
|
16.63 |
|
Directors or relatives of directors |
|
83.37 |
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing and trading of Fashion Casual Garments and
accessories under the brand name MUFTI. |
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Products : |
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Brand Names : |
MUFTI |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
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|
Bankers : |
· Axis Bank Limited, Axis House, Ground Floor, Bombay Dyeing Mills Compound, P. B. Marg, Worli, Mumbai - 400025, Maharashtra, India · Kotak Mahindra Bank Limited, 36-38a, Nariman Bhavan, 227,D, Nariman Point, Mumbai - 400021, Maharashtra, India · Bank of India, Andheri (West) Branch,28 Swami Vivekanand Road, Andheri-West, Mumbai - 400058, Maharashtra, India · Barclays Bank Plc., Ceejay House, Shivsagar Estate, Dr. A. Beasant Road, Worli., Mumbai - 400018, Maharashtra, India |
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Facilities : |
(Rs.
In Millions)
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Dileep and Prithiviraj Chartered Accountant |
|
Address : |
No. 4-A, Dhanukar Building, 3rd Floor, 480, Kalbadevi Road,
Klabadevi Post Office Lane, Mumbai-400002, Maharashtra, India |
|
Tel. No.: |
91-22-22071102/ 22071185 |
|
E-Mail : |
|
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PAN No.: |
AADFO3652Q |
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|
|
|
Related Parties : |
Kaps Mercantile Private Limited U18109MH2008PTC185469 |
CAPITAL STRUCTURE
As on: 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3250000 |
Equity Shares |
Rs. 10/- each |
Rs.32.500 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3192037 |
Equity Shares |
Rs. 10/-
each |
Rs.31.920
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 |
31.920 |
31.920 |
31.920 |
|
(b) Reserves & Surplus |
771.905 |
561.365 |
369.695 |
|
(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) |
803.825 |
593.285 |
401.615 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
195.017 |
195.662 |
182.204 |
|
(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 |
8.630 |
5.188 |
2.726 |
|
Total
Non-current Liabilities (3) |
203.647 |
200.850 |
184.930 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
21.672 |
90.933 |
117.407 |
|
(b) Trade payables |
297.319 |
311.229 |
239.135 |
|
(c) Other current liabilities |
14.724 |
17.847 |
13.814 |
|
(d) Short-term provisions |
38.390 |
22.869 |
13.388 |
|
Total
Current Liabilities (4) |
372.105 |
442.878 |
383.744 |
|
|
|
|
|
|
TOTAL |
1379.577 |
1237.013 |
970.289 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
170.559 |
175.082 |
157.296 |
|
(ii) Intangible Assets |
2.264 |
1.523 |
1.016 |
|
(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 |
0.055 |
0.032 |
0.029 |
|
(c) Deferred tax assets (net) |
19.022 |
8.147 |
1.971 |
|
(d) Long-term Loan and Advances |
96.690 |
88.098 |
135.049 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
288.590 |
272.882 |
295.361 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
113.405 |
190.077 |
133.760 |
|
(c) Trade receivables |
722.381 |
684.730 |
482.019 |
|
(d) Cash and cash equivalents |
221.502 |
41.604 |
47.601 |
|
(e) Short-term loans and
advances |
33.699 |
47.720 |
11.548 |
|
(f) Other current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
1090.987 |
964.131 |
674.928 |
|
|
|
|
|
|
TOTAL |
1379.577 |
1237.013 |
970.289 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
2342.296 |
2353.682 |
1817.823 |
|
|
|
Other Income |
NA |
NA |
NA |
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
308.652 |
280.618 |
185.072 |
|
|
|
|
|
|
|
|
|
|
TAX |
98.112 |
88.948 |
60.005 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
210.540 |
191.670 |
125.067 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
65.96 |
NA |
NA |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
Net Profit Margin (PBT/Sales) |
(%) |
13.18 |
11.92 |
10.18 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
22.69 |
22.84 |
19.11 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.38 |
0.473 |
0.46 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.27 |
0.48 |
0.75 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.93 |
2.18 |
1.76 |
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 |
31.920 |
31.920 |
31.920 |
|
Reserves & Surplus |
369.695 |
561.365 |
771.905 |
|
Net
worth |
401.615 |
593.285 |
803.825 |
|
|
|
|
|
|
long-term borrowings |
182.204 |
195.662 |
195.017 |
|
Short term borrowings |
117.407 |
90.933 |
21.672 |
|
Total
borrowings |
299.611 |
286.595 |
216.689 |
|
Debt/Equity
ratio |
0.746 |
0.483 |
0.270 |
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 |
1,817.823 |
2,353.682 |
2,342.296 |
|
|
|
29.478 |
(0.484) |
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 |
1,817.823 |
2,353.682 |
2,342.296 |
|
Profit |
125.067 |
191.670 |
210.540 |
|
|
6.88% |
8.14% |
8.99% |
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 |
UNSECURED LOAN
(Rs.
In Millions)
|
Particular |
As on 31.03.2013 |
As on 31.03.2012 |
|
LONG-TERM
BORROWINGS |
|
|
|
Loans repayable on demand |
0.000 |
1.146 |
|
Deposits |
191.885 |
189.515 |
|
SHORT-TERM
BORROWINGS |
|
|
|
Rupee term loans from banks |
19.390 |
3.159 |
|
|
|
|
|
Total |
211.275 |
193.820 |
Note:
The registered office of the company has been shifted from 701, Kishni
Kunj 14th A Road, Ahimsa Marg, Khar (West), Mumbai-400052,
Maharashtra, India to present address w.e.f. 17.07.2008
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10341069 |
24/02/2012 * |
110,000,000.00 |
KOTAK MAHINDRA BANK LIMITED |
36-38A, NARIMAN BHAVAN, 227,D, NARIMAN POINT, MUMBAI, MAHARASHTRA - 400021, INDIA |
B34823385 |
|
2 |
10232202 |
26/07/2010 |
320,000,000.00 |
BANK OF INDIA |
ANDHERI(WEST) BRANCH,28 SWAMI VIVEKANAND ROAD, ANDHERI-WEST, MUMBAI, MAHARASHTRA - 400058, INDIA |
A90698218 |
|
3 |
10185644 |
26/06/2012 * |
200,000,000.00 |
Axis Bank Limited |
AXIS HOUSE, GR. FLR. BOMBAY DYEING MILLS COMPOUND, P. B. MARG, WORLI, MUMBAI, MAHARASHTRA - 400025, INDIA |
B45647542 |
|
4 |
10040851 |
23/09/2008 * |
178,250,000.00 |
BANK OF INDIA |
ANDHERI WEST BR. M. D. I. BUILDING, 28, S. V. ROAD, ANDHERI (W), MUMBAI, MAHARASHTRA - 400058, INDIA |
A50573625 |
|
5 |
80047020 |
24/11/2005 |
6,500,000.00 |
BANK OF INDIA |
ANDHERI (W) BRANCH,, S.V.ROAD, MUMBAI, MAHARASHTRA - 400058, INDIA |
- |
|
6 |
80009926 |
26/07/2010 * |
320,000,000.00 |
BANK OF INDIA |
ANDHERI(WEST) BRANCH,28 SWAMI VIVEKANAND ROAD, ANDHERI-WEST, MUMBAI, MAHARASHTRA - 400058, INDIA |
A91609388 |
|
7 |
90144625 |
26/07/2010 * |
320,000,000.00 |
BANK OF INDIA |
ANDHERI(WEST) BRANCH,28 SWAMI VIVEKANAND ROAD, ANDHERI-WEST, MUMBAI, MAHARASHTRA - 400058, INDIA |
A90696808 |
* Date of charge modification
FIXED ASSETS
Tangible Assets
·
Buildings
Plant and Equipment
· Furniture and Fixtures
· Vehicles
· Office Equipment
· Computer Equipments
Intangible Assets
· Brands and trade marks
· Computer Software
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.58.77 |
|
|
1 |
Rs.90.02 |
|
Euro |
1 |
Rs.80.57 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Analysis Done by
: |
SUM |
|
|
|
|
Report Prepared
by : |
VRN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
6 |
|
--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 |
|
50 |
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.