MIRA INFORM REPORT
|
Report Date : |
29.10.2014 |
IDENTIFICATION DETAILS
|
Name : |
DLF BRANDS LIMITED (w.e.f. 21.04.2009) |
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|
Formerly Known
As : |
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|
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Registered
Office : |
1-E, Jhandewalan Extension, Naaz Cinema Complex, New Delhi- 110055 |
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|
Country : |
India |
|
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|
|
Financials (as
on) : |
31.03.2013 |
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|
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Date of
Incorporation : |
10.03.2006 |
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|
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|
Com. Reg. No.: |
147368 |
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Capital
Investment / Paid-up Capital : |
Rs.1488.500 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U45201DL2006PLC147368 |
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|
|
|
Legal Form : |
A closely held public limited liability company. |
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|
Line of Business
: |
Subject is engages in the business of retailing luxury and lifestyle
brands. |
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|
|
|
No. of Employees
: |
Not Divulged |
RATING & COMMENTS
|
MIRA’s Rating : |
B (28) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 1500000 |
|
|
|
|
Status : |
Moderate |
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|
|
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Payment Behaviour : |
Slow but Correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate track record. The rating is constrained on account of company’s moderate financial risk
profile and huge accumulated losses incurred by the company. However, trade relations are fair. Business is active. Payments are
reported to be slow but correct. The company can be considered for business dealing with some caution. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – 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 PARTED BY
|
Name : |
Mr. Robin |
|
Designation : |
Manager |
|
Contact No.: |
91-124-4855800 |
|
Date : |
13.10.2014 |
LOCATIONS
|
Registered Office : |
1-E, Jhandewalan Extension, Naaz Cinema Complex, New Delhi- 110055,
India |
|
Tel. No.: |
Not Available |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Corporate Office : |
15th Floor, Building No. 5-A, DLF Cyber Terraces, DLF, Phase-3,
Gurgaon-122002, Haryana, India |
|
Tel. No.: |
91-124-4855800 |
|
Fax No.: |
91-124-4855900 |
DIRECTORS
|
Name : |
Mr. Sunil Kumar Pandey |
|
Designation : |
Director |
|
Address : |
1167, Sector-21,Gurgaon-122016, Haryana, India |
|
Date of Appointment : |
10.03.2006 |
|
|
|
|
Name : |
Mr. Lovekush Sharma |
|
Designation : |
Director |
|
Address : |
C-238-A, Shalimar Garden, Extension II, Shaidabad-201005, Uttar
Pradesh, India |
|
Date of Appointment : |
10.03.2006 |
|
DIN No.: |
00003395 |
|
|
|
|
Name : |
Mr. Pia Singh |
|
Designation : |
Director |
|
Address : |
14, Auranzeb Road, New Delhi-110011, Delhi, India |
|
Date of Appointment : |
06.03.2009 |
|
DIN No.: |
00067233 |
|
|
|
|
Name : |
Mr. Dhiraj Shrna |
|
Designation : |
Managing Director |
|
Address : |
16-A, Aurangzeb Road, Delhi-110011, Delhi, India |
|
Date of Appointment : |
30.09.2011 |
|
DIN No.: |
01039973 |
|
|
|
|
Name : |
Mr. Ashish Rastogi |
|
Designation : |
Chief Finance Officer |
|
Address : |
365, AGCR Enclave Delhi, New Delhi-110092, Delhi, India |
|
Date of Birth : |
07/09/1962 |
|
Date of Appointment : |
01.04.2014 |
KEY EXECUTIVES
|
Name : |
Neeraj Parmar |
|
Designation : |
Secretary |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 31.03.2013
|
Names of Shareholders |
No. of Shares |
|
Dlf Limited, Delhi |
8000000 |
|
Prem Trader Private Limited, Delhi |
34000000 |
|
Center Point Properties (India) Private Limited, Delhi |
26000000 |
|
Super Mart Two Property Management Services Private Limited, Delhi |
61000000 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engages in the business of retailing luxury and lifestyle
brands. |
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|
|
|
Terms : |
|
|
Selling : |
Cash and Credit (30 days) |
|
|
|
|
Purchasing : |
Cash and Credit (30 days) |
GENERAL INFORMATION
|
Customers: |
Wholesalers, OEM’s |
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No. of Employees : |
Not Divulged |
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Bankers : |
Kotak Mahindra Bank Limited, 36-38 A, Nariman Bhavan, 227, D, Nariman
Point, Mumbai-400021, Maharashtra, India |
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Facilities : |
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|
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Banking
Relations : |
--- |
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|
|
|
Auditors : |
M/S Walker Chandiok and Company Chartered Accountant |
|
Name : |
L-41, Connaught Circus, New DElhi-1 |
|
PAN No.: |
AAAFW4298F |
|
|
|
|
Related Party : |
CIN No.: U7010DL2007PTC161521
CIN No.: U45400DL2007PTC162328
CIN No.: U45400DL2007PTC161528
CIN No.: U45209DL2007PTC161768
CIN No.: U45400DL2007PTC165429
CIN No.: U45209DL2007PTC161760
CIN No.: U27310DL2008PTC179369
CIN No.: U45201DL2006 PIC147566
CIN No.: L70101HR1963PLC002484
CIN No.: U74900DL1973PTC006832
CIN No.: U45400DL2007PTC161746
CIN No.: U45400DL2007PTC161485 |
|
|
|
CAPITAL STRUCTURE
After As on
30.09.2013
Authorised Capital :
Equity shares
Rs.2950.000 Millions
Issued, Subscribed & Paid-up Capital :
Equity shares
Rs.2436.000 Millions
As on 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
150000000 |
Equity Shares |
Rs. 10/- each |
Rs.1500.000 millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
148850000 |
Equity Shares |
Rs. 10/-
each |
Rs.1488.500
millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2013 |
31.03.2012 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
1488.500 |
1100.000 |
|
(b) Reserves & Surplus |
|
(1123.944) |
(764.975) |
|
(c) Money
received against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
|
0.000 |
150.000 |
|
Total
Shareholders’ Funds (1) + (2) |
|
364.556 |
485.025 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
469.711 |
243.042 |
|
(b) Deferred tax liabilities (Net) |
|
0.000 |
0.000 |
|
(c) Other long term
liabilities |
|
24.000 |
0.000 |
|
(d) long-term
provisions |
|
7.863 |
7.141 |
|
Total Non-current
Liabilities (3) |
|
501.574 |
250.183 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
|
666.328 |
601.557 |
|
(b) Trade
payables |
|
238.697 |
139.324 |
|
(c) Other
current liabilities |
|
258.767 |
176.747 |
|
(d) Short-term
provisions |
|
0.479 |
0.178 |
|
Total Current
Liabilities (4) |
|
1164.271 |
917.806 |
|
|
|
|
|
|
TOTAL |
|
2030.401 |
1653.014 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
|
193.833 |
140.397 |
|
(ii)
Intangible Assets |
|
29.699 |
40.268 |
|
(iii)
Capital work-in-progress |
|
33.135 |
35.382 |
|
(iv)
Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
756.957 |
637.257 |
|
(c) Deferred tax assets (net) |
|
9.903 |
9.903 |
|
(d) Long-term Loan and Advances |
|
321.196 |
266.165 |
|
(e) Other Non-current
assets |
|
2.055 |
2.939 |
|
Total Non-Current
Assets |
|
1346.778 |
1132.311 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
|
0.000 |
0.000 |
|
(b)
Inventories |
|
250.374 |
244.718 |
|
(c) Trade
receivables |
|
42.920 |
24.592 |
|
(d) Cash
and cash equivalents |
|
8.673 |
8.698 |
|
(e)
Short-term loans and advances |
|
348.050 |
210.736 |
|
(f) Other
current assets |
|
33.606 |
31.959 |
|
Total
Current Assets |
|
683.623 |
520.703 |
|
|
|
|
|
|
TOTAL |
|
2030.401 |
1653.014 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
||
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
570.490 |
369.823 |
|
|
|
Other Income |
|
55.295 |
34.447 |
|
|
|
TOTAL (A) |
|
625.785 |
404.270 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
|
0.000 |
0.000 |
|
|
|
Purchases of Stock-in-Trade |
|
383.439 |
269.637 |
|
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
|
(9.438) |
(69.146) |
|
|
|
Employees benefits expense |
|
111.443 |
89.366 |
|
|
|
Other expenses |
|
318.400 |
200.841 |
|
|
|
TOTAL (B) |
|
803.844 |
490.698 |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (A-B) (C) |
|
(178.059) |
(86.428) |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
|
136.228 |
124.113 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
|
(314.287) |
(210.541) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
|
44.682 |
26.119 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F)
(G) |
|
(358.969) |
(236.660) |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-H) (I) |
|
(358.969) |
(236.660) |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
|
(2.93) |
(2.35) |
|
KEY RATIOS
|
PARTICULARS |
|
|
31.03.2013 |
31.03.2012 |
|
PAT / Total Income |
(%) |
|
(57.36) |
(58.54) |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
|
(62.92) |
(63.99) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
|
(29.17) |
(24.39) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
|
(0.98) |
(0.49) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
|
3.12 |
1.74 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
|
0.59 |
0.57 |
FINANCIAL ANALYSIS
[all figures are in
Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Share Capital |
1100.000 |
1488.500 |
|
Reserves & Surplus |
(764.975) |
(1123.944) |
|
Net
worth |
335.025 |
364.556 |
|
|
|
|
|
long-term borrowings |
243.042 |
469.711 |
|
Short term borrowings |
601.557 |
666.328 |
|
Total
borrowings |
844.599 |
1136.039 |
|
Debt/Equity
ratio |
2.521 |
3.116 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales / Total Income |
369.823 |
570.490 |
|
|
54.260 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales /Total Income |
369.823 |
570.490 |
|
Profit |
(236.660) |
(358.969) |
|
|
(63.99%) |
(62.92%) |
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 |
Yes |
|
10] |
Designation of contact
person |
Yes |
|
11] |
Turnover of firm for last
two years |
Yes |
|
12] |
Profitability for last
two 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 |
Yes |
|
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 |
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 |
Operations:
The Company business
has grown in the last year in size and scale and has taken steps to concentrate
on its growth plan. The Company has total 24 (Twenty Four) exclusive brand
retail stores (EBO) and (Six) Multibrand Retail Stores under the Brand Name
Ave.neu, During the year the Company has closed its Brand (Alcott) and (Puma).
Currently, the Company has total 30 retail stores.
The Company is
continuing with expansion strategy in all major malls in Big Cities of the
Country. Your Company is holding the investments in other JV Companies/ SPVs in
line with overall Strategy of the Business for expanding business and is adding
new profitable Brands in the portfolio of Brands of the group business for
which is either directly under your Company or through JV Companies/ SPVs. The
Company has already announced a Strategic tie-up with youth Brand Forever 21
and is in talks with more Brands which are at closure stages for becoming a
major retail player in Lifestyle and Fashion Category in India.
The Board has made
strategies and is taking concrete steps to develop the business of the Company
in the coming years. The Company income is Rs. 625.785 Millions as compared to
Rs.404.270 Millions in previous year and incurred a loss of Rs 358.969 Millions
as compared to loss of Rs. 236.660 Millions in the previous year.
After optimization of volumes and margins, your Company has the
potential to become a more profitable business in the years to come.
On July 10 th
2009, Company has also opened one of India’s most spectacular restaurant called
Zest, designed by the famous Super Potatoes of Hong Kong, this mega restaurant
built over 19000 square feet will feature six world cuisines, interactive
kitchens, a walk in wine cellar, sommeliers and mixologists all designed to add
zest to your shopping experience. Restaurant, Bar Area, Terrace Café and Café E
offers akaleidoscope of authentic food and beverage options ranging from
Arabic, Japanese, Chinese, Thai, Italian and Indian kebabs and curries.
UNSECURED LOANS
|
Unsecured Loans |
31.03.2013 (Rs.
in Millions) |
31.03.2012 (Rs.
In Millions) |
|
LONG TERM
BORROWINGS |
|
|
|
Loans and advances from other |
295.762 |
0.000 |
|
|
|
|
|
SHORT TERM
BORROWINGS |
|
|
|
Loan repayable on demand other |
247.006 |
300.083 |
|
|
|
|
|
Total |
542.768 |
300.083 |
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10315326 |
05/12/2012 * |
308,700,000.00 |
KOTAK MAHINDRA BANK LIMITED |
36-38A, NARIMAN BHAVAN, 227,D,, NARIMAN POINT,, M |
B65370132 |
|
2 |
10204187 |
10/03/2012 * |
600,000,000.00 |
YES BANK LIMITED |
9TH FLOOR, NEHRU CENTRE, DISCOVERY OF INDIA,, DR. |
B35846658 |
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.61.35 |
|
|
1 |
Rs.98.93 |
|
Euro |
1 |
Rs.77.92 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
JYTK |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
- |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
|
28 |
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.