MIRA INFORM REPORT
|
Report No. : |
315536 |
|
Report Date : |
02.04.2015 |
IDENTIFICATION DETAILS
|
Name : |
KADER INVESTMENT AND TRADING COMPANY PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Old No. 60, New No. 30, 28th Cross Street, Indira Nagar, Chennai
– 600020, Tamilnadu |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
05.11.1981 |
|
|
|
|
Com. Reg. No.: |
18-034315 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 3.300 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U93090TN1981PTC034315 |
|
|
|
|
IEC No.: |
Not Available |
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|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACK2194C |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Trader, Exporter and Processor of Sea Food. |
|
|
|
|
No. of Employees
: |
500 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 147000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
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|
Comments : |
Subject is an established company having satisfactory track record. Financial position of the company seems to be decent. Trade relations 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 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 – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
|
Rating |
Fund based facilities (Long Term) = BB |
|
Rating Explanation |
Have moderate risk of default |
|
Date |
December, 2013 |
|
Rating Agency Name |
ICRA |
|
Rating |
Fund based facilities (Short Term) = A4 |
|
Rating Explanation |
Have minimal degree of safety and carry very high credit risk |
|
Date |
December, 2013 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter in
the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2014.
INFORMATION PARTED BY
|
Name : |
Mr. V. Ramakrishnan |
|
Designation : |
Factory Manager |
|
Contact No.: |
91-9865403214 |
|
Date : |
01.04.2015 |
LOCATIONS
|
Registered Office : |
Old No. 60, New No. 30, 28th Cross Street, Indira Nagar,
Chennai – 600020, Tamilnadu, India |
|
Tel. No.: |
Not Available |
|
Mobile No.: |
91-9865403214 (Mr. V. Ramakrishnan) |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Area : |
1500 Sq. ft |
|
Location : |
Owned |
|
|
|
|
Factory : |
No. 2/91, Patinamaruthur, Tuticorin – 628105, Tamilnadu, India |
|
Tel No.: |
91-461-2277305 / 2277350 / 2277250 |
|
Fax No.: |
91-461-2277303 |
DIRECTORS
As on: 29.09.2014
|
Name : |
Mr. Afzal Esmail Kader |
|
Designation : |
Director |
|
Address : |
Liberty House, 31, Farook Oomerbhoypath, Byculla, Mumbai – 400008,
Maharashtra, India |
|
Date of Birth/Age : |
03.10.1953 |
|
Date of Appointment : |
05.11.1981 |
|
DIN No.: |
01275547 |
|
|
|
|
Name : |
Mr. Parvez Hamza Kader |
|
Designation : |
Director |
|
Address : |
Liberty House, 31, Farook Oomerbhoypath, Byculla, Mumbai – 400008,
Maharashtra, India |
|
Date of Birth/Age : |
02.06.1959 |
|
Date of Appointment : |
05.11.1981 |
|
DIN No.: |
00546469 |
|
|
|
|
Name : |
Mr. Abdul Razzak Ganj |
|
Designation : |
Director |
|
Address : |
Flat #7, Shalimar Garden, 5th Valmigi Street,
Injambakkam,Chennai – 600115, Tamilnadu, India |
|
Date of Birth/Age : |
17.12.1946 |
|
Date of Appointment : |
17.09.1990 |
|
DIN No.: |
02414699 |
|
|
|
|
Name : |
Mr. Zaid Afzal Kader |
|
Designation : |
Additional Director |
|
Address : |
Liberty House, 2nd Floor, Room No. 5, 31, Farook
Oomerbhoypath, Byculla, Mumbai – 400008, Maharashtra, India |
|
Date of Birth/Age : |
31.01.1989 |
|
Date of Appointment : |
12.12.2013 |
|
DIN No.: |
03554382 |
KEY EXECUTIVES
|
Name : |
Mr. V. Ramakrishnan |
|
Designation : |
Factory Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 29.09.2014
|
Names of Shareholders |
No. of Shares |
|
Afzal Esmail Kader |
1099 |
|
Asma Afzal Kader |
500 |
|
Esmail Abdul Kader |
800 |
|
Ibrahim Abdul Kader |
800 |
|
Zubeda Ibrahim Kader |
500 |
|
Zebunnissa Hamza Kader |
500 |
|
Kader Exports Private Limited, India |
25000 |
|
Parvez Hamza Kader |
500 |
|
Zaid A. Kader |
200 |
|
Hamida Abdul Kader |
200 |
|
Najib Hamza Kader |
1400 |
|
Roshna Parvez Kader |
1000 |
|
Devi Marine Food Exports Private Limited, India |
500 |
|
Maimoona Mustafa Kader |
1 |
|
Total
|
33000 |
As on: 29.09.2014
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
|
|
|
Bodies corporate |
77.00 |
|
Directors or relatives of directors |
23.00 |
|
Total
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Trader, Exporter and Processor of Sea Food. |
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Products : |
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Exports : |
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Products : |
Finished Goods |
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Countries : |
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Imports : |
Not Available |
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Terms : |
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Selling : |
Cheque and Credit |
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Purchasing : |
Cheque and Credit |
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
Wholesalers, Retailers and End Users
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No. of Employees : |
500 (Approximately) |
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Bankers : |
Bank of Maharashtra, 116, Broadway, Chennai – 600108, Tamilnadu, India
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
Vijayaraghavan and Associates Chartered Accountants |
|
Address : |
51, Giri Road, T. Nagar, Chennai 17, Tamilnadu, India |
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PAN No.: |
AAAFV1842R |
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Memberships : |
-- |
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Collaborators : |
-- |
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Sister Concern : |
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CAPITAL STRUCTURE
As on: 31.03.2014
Authorized Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
40000 |
Equity Shares |
Rs.100/- each |
Rs. 4.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
33000 |
Equity Shares |
Rs.100/- each |
Rs. 3.300
Millions |
|
|
|
|
|
FINANCIAL DATA
[All figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES
OF FUNDS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
3.300 |
3.300 |
3.300 |
|
(b) Reserves & Surplus |
48.128 |
18.888 |
16.030 |
|
(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) |
51.428 |
22.188 |
19.330 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term
borrowings |
43.647 |
72.299 |
25.006 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
35.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
2.627 |
2.083 |
1.836 |
|
Total Non-current
Liabilities (3) |
81.274 |
74.382 |
26.842 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term
borrowings |
65.249 |
75.322 |
32.984 |
|
(b) Trade payables |
60.140 |
8.626 |
8.282 |
|
(c) Other current
liabilities |
6.082 |
3.382 |
1.921 |
|
(d) Short-term
provisions |
22.311 |
5.552 |
4.003 |
|
Total Current
Liabilities (4) |
153.782 |
92.882 |
47.190 |
|
|
|
|
|
|
TOTAL |
286.484 |
189.452 |
93.362 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
52.831 |
31.085 |
30.276 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
0.000 |
11.996 |
0.000 |
|
(iv) Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
1.732 |
1.732 |
1.732 |
|
(c) Deferred tax
assets (net) |
0.468 |
0.300 |
0.000 |
|
(d) Long-term Loan and Advances |
6.932 |
6.431 |
0.216 |
|
(e) Other Non-current
assets |
0.000 |
0.000 |
5.926 |
|
Total Non-Current
Assets |
61.963 |
51.544 |
38.150 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
114.421 |
100.863 |
33.976 |
|
(c) Trade receivables |
27.541 |
1.622 |
2.426 |
|
(d) Cash and cash
equivalents |
10.671 |
6.248 |
8.821 |
|
(e) Short-term loans
and advances |
23.036 |
8.612 |
7.206 |
|
(f) Other current
assets |
48.852 |
20.563 |
2.783 |
|
Total Current Assets |
224.521 |
137.908 |
55.212 |
|
|
|
|
|
|
TOTAL |
286.484 |
189.452 |
93.362 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
TOTAL |
1798.600 |
561.800 |
213.800 |
|
|
|
|
|
|
|
|
Less |
EXPENSES
|
1743.752 |
550.879 |
206.607 |
|
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
54.848 |
10.921 |
7.193 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
5.411 |
3.084 |
2.214 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
49.437 |
7.837 |
4.979 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
5.665 |
3.663 |
3.280 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
43.772 |
4.174 |
1.699 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
14.532 |
1.316 |
0.700 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
29.240 |
2.858 |
0.999 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
18.888 |
16.030 |
15.031 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
48.128 |
18.888 |
16.030 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
1798.600 |
561.800 |
212.200 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
886.06 |
86.61 |
30.27 |
|
Expected Sales (2014-2015): Rs.1900.000 Millions
The above information has been parted by Mr. V. Ramakrishnan
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Return on Total Assets (PBT/Total Assets} |
(%) |
15.40 |
2.38 |
1.85 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.85 |
0.19 |
0.09 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
2.12 |
6.65 |
3.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.46 |
1.48 |
1.17 |
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 |
3.300 |
3.300 |
3.300 |
|
Reserves & Surplus |
16.030 |
18.888 |
48.128 |
|
Net worth |
19.330 |
22.188 |
51.428 |
|
|
|
|
|
|
long-term borrowings |
25.006 |
72.299 |
43.647 |
|
Short term borrowings |
32.984 |
75.322 |
65.249 |
|
Total borrowings |
57.990 |
147.621 |
108.896 |
|
Debt/Equity ratio |
3.000 |
6.653 |
2.117 |
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) |
|
Total Income |
213.800 |
561.800 |
1798.600 |
|
|
|
162.769 |
220.150 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Millions) |
(Rs. In Millions) |
(Rs. In Millions) |
|
Total Income |
213.800 |
561.800 |
1798.600 |
|
Profit |
0.999 |
2.858 |
29.240 |
|
|
0.47% |
0.51% |
1.63% |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info
Agents |
Available in Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
Yes |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
Yes |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact person |
Yes |
|
11] |
Turnover of firm for last three years |
Yes |
|
12] |
Profitability for last three years |
Yes |
|
13] |
Reasons for variation <> 20% |
-- |
|
14] |
Estimation for coming financial year |
Yes |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
Yes |
|
20] |
Export / Import details (if applicable) |
Yes |
|
21] |
Market information |
-- |
|
22] |
Litigations that the firm / promoter involved in |
-- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking account |
-- |
|
26] |
Buyer visit details |
-- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if applicable |
Yes |
|
29] |
Last accounts filed at ROC |
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 |
Yes |
NOTE
The Registered Office of the company has been shifted from 3/284, Muttukadu
Road, Neelangarai, Madras - 600041, Tamilnadu, India to the present address
w.e.f. 01.06.2012.
UNSECURED LOAN
|
PARTICULAR |
31.03.2014 (Rs.
In Millions) |
31.03.2013 (Rs.
In Millions) |
|
LONG TERM
BORROWINGS |
|
|
|
Other loans and advances |
43.647 |
72.299 |
|
|
|
|
|
SHORT TERM
BORROWINGS |
|
|
|
Loans repayable on demand from bank |
0.000 |
0.133 |
|
|
|
|
|
Total |
43.647 |
72.432 |
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10448531 |
11/02/2013 |
145,000,000.00 |
BANK OF MAHARASHTRA |
116, BROADWAY, CHENNAI, TAMIL NADU - 600108, INDIA |
B73736498 |
FIXED ASSETS
- Land
- Buildings
- Plant and equipment
- Furniture and fixtures
- Vehicles
- Office equipment
- Computer equipments
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 judgment 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.62.59 |
|
|
1 |
Rs.92.46 |
|
Euro |
1 |
Rs.67.51 |
INFORMATION DETAILS
|
Information
Gathered by : |
SNJ |
|
|
|
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
ANK |
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 |
YES |
|
--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.