MIRA
INFORM REPORT
|
Report Date : |
06.10.2014 |
IDENTIFICATION DETAILS
|
Name : |
INDIAN STITCHES PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
24/ 64, Asher Nagar, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
27.06.2003 |
|
|
|
|
Com. Reg. No.: |
18-010648 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.34.964 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U18101TZ2003PTC010648 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
CMBI03305B |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCI1268C |
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|
Legal Form : |
Private Limited Liability Company |
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|
Line of Business
: |
The Company is in the business of manufacturing, Trading and Export of Readymade Garments, Fabric, and Processing of Fabric etc. |
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|
No. of Employees
: |
Information declined by the management. |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 730000 |
|
|
|
|
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 company having satisfactory track. General financial position of the company seems to be sound and healthy.
Profitability of the company is fair. Trade relation are fair. Business is active. Payment terms are
reported to be usually correct. The company can be considered for business dealings at usual trade
terms and condition. |
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.
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 DENIED BY
|
Name : |
Mr. Palani Kumar |
|
Designation : |
Chief Executive Officer |
|
Contact No.: |
91-9952424820 |
|
Date : |
04.10.2014 |
LOCATIONS
|
Registered Office : |
24/ 64, Asher Nagar, 60 Feet Road, Tirupur, District Coimbatore – 641
603, Tamilnadu, India |
|
Tel. No.: |
91-421-2481623 / 2481625 / 4301144 |
|
Mobile No.: |
91-9952424820 (Mr. Palani Kumar) |
|
Fax No.: |
91-421-2481626 |
|
E-Mail : |
|
|
|
|
|
Factory 1 : |
Plot No. J 26, K 10 and K 11, SIPCOT Industrial Growth Centre,
Perundurai – 638 052, |
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|
|
|
Factory 2: |
# Plot J 10,4th |
|
Tel. No.: |
91-4285-264145 |
|
Mobile No.: |
91-9952424813 |
DIRECTORS
AS ON 30.09.2013
|
Name : |
Mr. Vishal Kumar Sehgal |
|
Designation : |
Director |
|
Address : |
Flat No.4A, Srivari Prathist Apartment, 1/21,NKPM Layout, Red Field, Kamaraj Road, Coimbatore – 641018, Tamilnadu, India |
|
Date of Birth/Age : |
04.07.1974 |
|
Date of Appointment : |
27.06.2003 |
|
DIN No.: |
00398587 |
|
|
|
|
Name : |
Mr. Vijay Kurana |
|
Designation : |
Director |
|
Address : |
C-10, 3rd Floor, Tristar Appartments Near Lakshmi Mills , Avinashi Road, Coimbatore – 641037, Tamilnadu, India |
|
Date of Birth/Age : |
24.03.1972 |
|
Date of Appointment : |
27.06.2003 |
|
DIN No.: |
00507763 |
KEY EXECUTIVE
|
Name : |
Mr. Palani Kumar |
|
Designation : |
Chief Executive Officer |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2013
|
Names of Shareholders |
|
No. of Shares |
|
Vishal Kumar Sehgal |
|
3,156,505 |
|
Vishal Kumar (HUF) |
|
29,285 |
|
Tailors Creation India Private Limited, India |
|
81,850 |
|
Sonal Sehgal |
|
228,750 |
|
Total |
|
3,496,390 |
AS ON 30.09.2013
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Bodies corporate |
2.34 |
|
Directors or relatives of Directors |
97.66 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
The Company is in the business of manufacturing, Trading and Export of Readymade Garments, Fabric, and Processing of Fabric etc. |
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Products : |
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GENERAL INFORMATION
|
No. of Employees : |
Information declined by the management. |
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Bankers : |
·
ABN Amro Bank N V, No.48, Global Trade, Opp. Velan
Hotel, Kangeyam Road, Tirupur – 641604, Tamilnadu, India · Bank of India, Tirupur Sme Branch, Park Avenue ,Avinashi Road Junction,Kumar Nagar, Tirupur - 641603, Tamilnadu, India |
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Facilities : |
NOTE : LONG TERM
BORROWINGS (i) Details of terms of repayment, security provided and loans guaranteed by the directors or others – term loan from bank (secured) Bank :- Bank of India Term of repayment :- repayable in 76 monthly equal installment of Rs. 1.132 Millions each, commencing from jan'2010 nature of security :- a. secured by creation of exclusive charges on movable fixed assets (present & future) b. exclusive charges by way of equitable mortgage of below mentioned properties :- 1. lease hold land & building (shed - 35) at netaji apparel park (mv- rs. 100 lakh ) 2. lease hold land at sip cot c. personal guarantee of directors (ii) details of car loan (secured) financial institution :- volkswagen finance Private Limited term of repayment :- repayable in 23 monthly equal installment of Rs.0.062 Million nature of security :- secured by creation of passat car reg no :- tn-66-f-6997 SHORT TERM
BORROWINGS Bank :- Bank of India Term of repayment :- repayable on demand Nature of security :- a. exclusive charges on stocks and book debts of the company b. personal guarantee of directors |
|
Banking
Relations : |
-- |
|
|
|
|
Financial Institution : |
Cholamandalam DBS Finance Limited |
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|
|
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Auditors : |
|
|
Name : |
R. Balasubramanian and Associates Chartered Accountants |
|
Address : |
32-G, Subhalakshmi Complex, Binny |
|
PAN No.: |
AAFFR0211B |
|
|
|
|
Other Associate : |
· International Trading INC · Cotton Craft International · Tailors Creation India Private Limited · PKKS Textiles India Private Limited · Trio Sportswear Private Limited · P2E Software Solutions Private Limited |
CAPITAL STRUCTURE
AS ON 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
3500000 |
Equity Shares |
Rs.10/- each |
Rs.35.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
3496390 |
Equity Shares |
Rs.10/- each |
Rs.34.964
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 |
34.964 |
34.964 |
34.964 |
|
(b) Reserves & Surplus |
146.731 |
146.387 |
130.696 |
|
(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) |
181.695 |
181.351 |
165.660 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
28.549 |
43.015 |
55.467 |
|
(b) Deferred tax liabilities
(Net) |
19.668 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
25.150 |
28.150 |
48.000 |
|
(d) long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total
Non-current Liabilities (3) |
73.367 |
71.165 |
103.467 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
45.338 |
16.906 |
31.068 |
|
(b) Trade payables |
30.491 |
29.565 |
46.524 |
|
(c) Other current liabilities |
0.375 |
3.329 |
5.639 |
|
(d) Short-term provisions |
16.777 |
9.107 |
7.040 |
|
Total
Current Liabilities (4) |
92.981 |
58.907 |
90.271 |
|
|
|
|
|
|
TOTAL |
348.043 |
311.423 |
359.398 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
183.833 |
210.690 |
241.985 |
|
(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 |
1.527 |
1.527 |
1.527 |
|
(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 |
185.360 |
212.217 |
243.512 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
30.140 |
19.601 |
32.023 |
|
(c) Trade receivables |
73.914 |
45.521 |
53.177 |
|
(d) Cash and cash equivalents |
20.956 |
0.744 |
1.484 |
|
(e) Short-term loans and
advances |
0.000 |
0.000 |
0.000 |
|
(f) Other current assets |
37.673 |
33.340 |
29.202 |
|
Total
Current Assets |
162.683 |
99.206 |
115.886 |
|
|
|
|
|
|
TOTAL |
348.043 |
311.423 |
359.398 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
SALES |
|
|
|
|
|
Revenue from operations |
457.166 |
485.029 |
430.395 |
|
|
Other Income |
3.764 |
3.424 |
4.470 |
|
|
TOTAL
(A) |
460.930 |
488.453 |
434.865 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
176.541 |
231.046 |
201.883 |
|
|
Purchases of Stock-in-Trade |
0.000 |
0.000 |
0.000 |
|
|
Changes in inventories of finished
goods, work-in-progress and Stock-in-Trade |
(3.875) |
(2.173) |
(4.922) |
|
|
Employees benefits expense |
26.066 |
27.047 |
21.868 |
|
|
Other expenditure |
188.432 |
168.699 |
149.878 |
|
|
TOTAL
(B) |
387.164 |
424.619 |
368.707 |
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (C) |
73.766 |
63.834 |
66.158 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
8.550 |
12.333 |
13.297 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
65.216 |
51.501 |
52.861 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION (F) |
30.204 |
29.286 |
29.499 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F) (G) |
35.012 |
22.215 |
23.362 |
|
|
|
|
|
|
|
Less |
TAX
(H) |
11.361 |
6.524 |
0.143 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-H)
(I) |
23.651 |
15.691 |
23.219 |
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
60.913 |
45.222 |
29.788 |
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
Transfer to General Reserve |
0.000 |
0.000 |
7.785 |
|
|
|
|
|
|
|
|
BALANCE
CARRIED TO THE B/S |
84.564 |
60.913 |
45.222 |
|
|
|
|
|
|
|
|
EARNINGS
IN FOREIGN CURRENCY |
|
|
|
|
|
USD |
6465.000 |
6615.000 |
74347.980 |
|
|
EURO |
48347.790 |
221537.560 |
13244.000 |
|
|
TOTAL
EARNINGS |
54812.790 |
228152.560 |
87591.980 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
6.76 |
4.49 |
6.64 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
5.13 |
3.21 |
5.34 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
7.66 |
4.58 |
5.43 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
10.10 |
7.17 |
6.53 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.19 |
0.12 |
0.14 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.41 |
0.33 |
0.52 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.75 |
1.68 |
1.28 |
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 |
34.964 |
34.964 |
34.964 |
|
Reserves & Surplus |
130.696 |
146.387 |
146.731 |
|
Net
worth |
165.660 |
181.351 |
181.695 |
|
|
|
|
|
|
long-term borrowings |
55.467 |
43.015 |
28.549 |
|
Short term borrowings |
31.068 |
16.906 |
45.338 |
|
Total
borrowings |
86.535 |
59.921 |
73.887 |
|
Debt/Equity
ratio |
0.522 |
0.330 |
0.407 |
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) |
|
Revenue from operations |
430.395 |
485.029 |
457.166 |
|
|
|
12.694 |
(5.745) |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Revenue from operations |
430.395 |
485.029 |
457.166 |
|
Profit/(Loss) After Tax |
23.219 |
15.691 |
23.651 |
|
|
5.39% |
3.24% |
5.17% |
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 |
No |
|
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 |
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 |
No |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
No |
VIEW INDEX OF
CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10203752 |
06/06/2013 * |
148,600,000.00 |
BANK OF INDIA |
TIRUPUR SME
BRANCH, PARK AVENUE ,AVINASHI ROAD JU |
B79287819 |
* Date of charge modification
FINANCIAL AND
BUSINESS PERFORMANCES:
The Company has earned a receipt of Rs. 460.929 Millions during the period. (Last year :- Rs.488.452 Millions).
The Profit for the period after income tax is Rs. 23.651 Millions. (Last year :- Rs. 15.691 Millions)
CORPORATE INFORMATION
The Company was incorporated on June 27, 2003, and is a Company register under Indian Companies Act, 1956. The Company is in the business of manufacturing, Trading and Export of Readymade Garments, Fabric, and Processing of Fabric etc.
FIXED ASSETS:
- Land and
Building
- Computer and
Appliances
- Machinery
- Vehicles
- Furniture and
Fittings
- Electrical
and Fittings
- Computer and Appliances
- Software Purchase
- Boiler
- Office Equipments
- UPS
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 records 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] 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.61.75 |
|
|
1 |
Rs.100.07 |
|
Euro |
1 |
Rs.77.95 |
INFORMATION DETAILS
|
Information
Gathered by : |
DPA |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
SNT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
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 |
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 |
|
45 |
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.