MIRA INFORM REPORT
|
Report Date : |
14.11.2014 |
IDENTIFICATION DETAILS
|
Name : |
RINKLE IMPEX |
|
|
|
|
Registered
Office : |
DW – 4140, Bharat Diamond Bours, Bandra Kurla Complex, Opposite Diamond Market, Bandra (East), Mumbai – 400051, Maharashtra |
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|
Country : |
India |
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|
|
Financials (as
on) : |
31.03.2014 |
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|
|
|
Date of Incorporation
: |
27.08.2001 |
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Capital
Investment / Paid-up Capital : |
Rs. 88.213 Millions |
|
|
|
|
IEC No.: |
Not Divulged |
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|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Divulged |
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|
|
PAN No.: [Permanent Account No.] |
AAEFR6271N |
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|
Legal Form : |
Partnership Concern with an Unlimited Liability of the Partners |
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Line of Business
: |
Manufacturer, Exporter and Importer of Diamonds. |
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|
No. of Employees
: |
500 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (48) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
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|
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Litigation : |
Clear |
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|
Comments : |
Subject is an established partnership concern having a satisfactory
track record. The rating reflects concern’s healthy track record of business operations
supported by sound financial base and fair profitability margins of the
concern. Trade relations are fair. Business is active. Payment terms are
reported to be usually correct. The concern can be considered for business dealings 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 – June 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
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
N E W S
Verdict Implications
: Apex court order may alter coal import dynamics. Traders go slow on talks over
coal supply contracts, uncertainty over cancellation of blocks weigh on stocks.
Recent arrest of the
Chennai head of the Registrar of Companies, the ministry of corporate affairs
arm that ensures that companies file all the information required by the
Companies Act is the latest manifestation of a messy fight between a father and
his adopted son for the control of Rs 40000 mn business empire. The Central
Bureau of Investigation arrested Manumeethi Cholan after he accepted Rs 10
lakhs as bribe from M A M Ramaswamy, a CBI official said.
Central Bureau of
Investigation books Electrotherm for cheating Central Bank of Rs 4360 mn.
Infosys maintains
revenue guidance. COO Rao says attrition still an area of concern and it would
take a few more quarters to bring down levels to 13-15 %.
DHL to invest
Euro 100 mn in India over next 2 years. The firm has chosen India to pilot its
e-commerce business model for the Asia-Pacific region.
Blackstone may buy
stake in BlueRidge SEZ in line with the fund’s real estate strategy in India.
Kingfisher Airlines
Ltd grounded in October 2012 under the weight of heavy debt and accumulated
losses, recently approached the Delhi high court for relief in two separate
cases. The airline challenged a notice by Punjab & National Bank alleging
that It had wilfully defaulted on Rs 7700 mn of loans and sought more time to
comply with the requirements under the listing agreements with the Stock
Exchanges.
OnMobile likely to
sack another 300 employees. The lay-offs follow a spate of senior-level exits
over the past two years, starting with of its founder. The overall lay-offs
could number around 600 and are driven by the need to cut costs, says a former
employee.
EXTERNAL AGENCY RATING
Not Available
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
31-03-2014.
INFORMATION PARTED BY
|
Name : |
Mr. Bharat |
|
Designation : |
Account Manager |
|
Contact No.: |
91-9819190053 |
|
Date : |
05.11.2014 |
LOCATIONS
|
Registered Office : |
DW – 4140, Bharat Diamond Bours, Bandra Kurla Complex, Opposite Diamond Market, Bandra (East), Mumbai – 400051, Maharashtra, India |
|
Tel. No.: |
91-22-42646008 |
|
Mobile No.: |
91-9819190053 (Mr. Nitin) 91-9824861598 (Mr. Bharat) |
|
Fax No.: |
Not Available |
|
E-Mail : |
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|
|
|
Factory / Branch Office : |
CS – No. 3712 to 3714, Sagar Industrial
Estate, Vasta
Devi
Road, Surat – 395004, Gujarat, India |
|
Tel. No.: |
91-261-2533552 |
PARTNERS
|
Name : |
Mr. Saujibhai Angan |
|
Designation : |
Partner |
|
|
|
|
Name : |
Mr. Manji Angan |
|
Designation : |
Partner |
|
|
|
|
Name : |
Mr. Babu Angan |
|
Designation : |
Partner |
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|
|
|
Name : |
Mr. Kirit Angan |
|
Designation : |
Partner |
|
|
|
|
Name : |
Mr. Ketan Angan |
|
Designation : |
Partner |
|
|
|
|
Name : |
Mr. Sanket Angan |
|
Designation : |
Partner |
KEY EXECUTIVES
|
Name : |
Mr. Bharat |
|
Designation : |
Account Manager |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer, Exporter and Importer of Diamonds. |
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|
|
Products : |
Not Available |
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Brand Names : |
-- |
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Agencies Held : |
-- |
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Exports : |
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Products : |
Finnish Goods |
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Countries : |
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Imports : |
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Products : |
Raw Material |
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Countries : |
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Terms : |
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Selling : |
Credit (60/90 Days) |
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Purchasing : |
Credit (60/90 Days) |
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
Wholesalers and COP
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No. of Employees : |
500 (Approximately) |
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Bankers : |
Bank of India, Opera House Branch Tel. No.: 91-88-79182821
(Mr. Mane, Relation Manager) Report: Banker gaveus
positive feed bank. The subject having excellent track record for banking
transaction |
||||||||||||
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Facilities : |
Cash Credit Rs.80.000 Millions and Propose Rs.220.000 Millions (from
Bank of India) |
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Banking
Relations : |
--- |
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|
|
|
Auditors : |
|
|
Name : |
Rashmin Mehta and Company Chartered Accountants |
|
Address : |
Opera House, Mumbai 400004, Maharashtra, India |
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|
|
|
Associates/Subsidiaries : |
Not Available |
CAPITAL STRUCTURE
As on 31.03.2014
Current Capital:
Rs. In Millions
|
Partner’s Name |
Opening Balance |
Additions |
Interest |
Salary to
Partner |
Withdrawals
Transfer |
Share of Profit |
Closing Balance |
|
|
|
|
|
|
|
|
|
|
Mr. Saujibhai Angan |
12.910 |
3.661 |
0.240 |
0.720 |
(1.916) |
2.694 |
18.309 |
|
Mr. Kirit Angan |
10.233 |
4.026 |
0.240 |
0.720 |
(1.159) |
2.694 |
16.752 |
|
Mr. Ketan Angan |
10.988 |
3.152 |
0.240 |
0.720 |
(0.875) |
2.694 |
16.918 |
|
Mr. Babu Angan |
9.619 |
4.281 |
-- |
0.720 |
(0.775) |
2.694 |
16.538 |
|
Mr. Manji Angan |
8.988 |
0.501 |
-- |
0.720 |
(1.125) |
2.694 |
11.777 |
|
Mr. Sanket Angan |
5.618 |
0.816 |
-- |
0.720 |
(1.611) |
2.377 |
7.919 |
|
Total |
58.356 |
16.437 |
0.720 |
4.320 |
(7.461) |
15.844 |
88.213 |
FINANCIAL DATA
[all figures are
in Rupees Millions]
The above information has been parted by Mr. Bharat
Note : Sole Proprietary and Partnership concerns are
exempted from filing their financials with the Government Authorities or Registry.
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Partner’s Capital |
88.213 |
58.355 |
40.822 |
|
(b) Fixed Capital Account |
6.000 |
6.000 |
6.000 |
|
(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) |
94.213 |
64.355 |
46.822 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
2.436 |
1.970 |
2.043 |
|
(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) |
2.436 |
1.970 |
2.043 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade
payables |
492.352 |
255.791 |
95.509 |
|
(c) Other current
liabilities |
6.817 |
9.335 |
1.306 |
|
(d) Short-term
provisions |
16.835 |
7.621 |
6.282 |
|
Total Current
Liabilities (4) |
516.004 |
272.747 |
103.097 |
|
|
|
|
|
|
TOTAL |
612.653 |
339.072 |
151.962 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
|
|
|
|
(ii)
Intangible Assets |
|
|
|
|
(iii)
Capital work-in-progress |
|
|
|
|
(iv)
Intangible assets under development |
|
|
|
|
(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 |
1.607 |
0.094 |
0.069 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
50.518 |
32.158 |
7.540 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
396.307 |
189.434 |
89.495 |
|
(c) Trade
receivables |
121.328 |
106.697 |
47.530 |
|
(d) Cash and
cash equivalents |
28.433 |
5.222 |
3.626 |
|
(e)
Short-term loans and advances |
16.067 |
5.561 |
3.771 |
|
(f) Other
current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
562.135 |
306.914 |
144.422 |
|
|
|
|
|
|
TOTAL |
612.653 |
339.072 |
151.962 |
%2014-Nov-2014_files/image001.gif){kind=small}
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
1023.087 |
618.666 |
501.081 |
|
|
|
Other Income |
0.000 |
0.000 |
0.000 |
|
|
|
TOTAL (A) |
1023.087 |
618.666 |
501.081 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
869.794 |
494.659 |
389.846 |
|
|
|
Manufacturing Expenses |
79.356 |
53.418 |
44.571 |
|
|
|
Purchases of Stock-in-Trade |
107.417 |
67.152 |
40.960 |
|
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(86.195) |
(33.832) |
(6.193) |
|
|
|
Exchange Difference (Net) |
(7.706) |
(7.147) |
(0.238) |
|
|
|
Other expenses |
31.767 |
18.154 |
11.099 |
|
|
|
TOTAL (B) |
994.433 |
592.404 |
480.045 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
28.654 |
26.262 |
21.036 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
0.851 |
0.769 |
0.800 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
27.803 |
25.493 |
20.236 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
3.716 |
2.723 |
1.117 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
24.087 |
22.770 |
19.119 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
8.243 |
7.275 |
6.150 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
15.844 |
15.495 |
12.969 |
|
|
|
|
|
|
|
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
1.55 |
2.50 |
2.59 |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
2.80 |
4.24 |
4.20 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
3.93 |
6.72 |
12.58 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.26 |
0.35 |
0.41 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.03 |
0.03 |
0.04 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.09 |
1.13 |
1.40 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Millions) |
(Rs. In Millions) |
(Rs. In Millions) |
|
Share Capital |
40.822 |
58.355 |
88.213 |
|
Fixed Capital Account |
6.000 |
6.000 |
6.000 |
|
Net worth |
46.822 |
64.355 |
94.213 |
|
|
|
|
|
|
long-term borrowings |
2.043 |
1.970 |
2.436 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Total borrowings |
2.043 |
1.970 |
2.436 |
|
Debt/Equity ratio |
0.044 |
0.031 |
0.026 |
%2014-Nov-2014_files/image012.gif)
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Millions) |
(Rs. In Millions) |
(Rs. In Millions) |
|
Sales |
501.081 |
618.666 |
1023.087 |
|
|
|
23.466 |
65.370 |
%2014-Nov-2014_files/image014.gif)
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Millions) |
(Rs. In Millions) |
(Rs. In Millions) |
|
Sales |
501.081 |
618.666 |
1023.087 |
|
Profit |
12.969 |
15.495 |
15.844 |
|
|
2.59% |
2.50% |
1.55% |
%2014-Nov-2014_files/image016.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 |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
No |
|
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 |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister concerns |
No |
|
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 |
No |
|
29] |
Last accounts filed at ROC |
No |
|
30] |
Major Shareholders, if available |
No |
|
31] |
Date of Birth of Proprietor/Partner/Director, if available |
No |
|
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 |
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.
FIXED ASSETS
- Land
- Plant and
Machinery
- Air
Conditioner
- Camera System
- Diamond
Measurement Machine
- Computer
- Furniture and
Fixtures
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON DESIGNATED
PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions involving
their assets have been blocked or convicted, found guilty or against whom a
judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No available
information exist that suggest that subject or any of its principals have been
formally charged or convicted by a competent governmental authority for any
financial crime or under any formal investigation by a competent government
authority for any violation of anti-corruption laws or international anti-money
laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.56 |
|
|
1 |
Rs.97.10 |
|
Euro |
1 |
Rs.76.61 |
INFORMATION DETAILS
|
Information
Gathered by : |
PRT |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
NTH |
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 |
6 |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
48 |
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.