MIRA INFORM REPORT
|
Report No. : |
316334 |
|
Report Date : |
09.04.2015 |
IDENTIFICATION DETAILS
|
Name : |
KORA SHOES PRIVATE LIMITED |
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Registered
Office : |
Selvam Estates, A-2, Kaveri, 6th Cross Street, New Colony, Chrompet,
Chennai – 600044, Tamilnadu |
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Tel No. : |
91-44-24781190 |
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Country : |
India |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
23.10.2009 |
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Com. Reg. No.: |
18-073314 |
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Capital Investment
/ Paid-up Capital : |
Rs. 48.712 Million |
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CIN No.: [Company Identification
No.] |
U19116TN2009PTC073314 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
CHEK10522B |
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PAN No.: [Permanent Account No.] |
AADCK8915C |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Production of Full Shoes and Shoe Uppers. |
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No. of Employees
: |
Not Divulged |
RATING & COMMENTS
|
MIRA’s Rating : |
B (29) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
USD 186000 |
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Status : |
Moderate |
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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 company’s performance improved in terms of sales turnover during
FY 2014, through profitability has decreased. The rating is constrained due to low reserves and moderate net worth
base during year under review. The rating also takes note of the unfavourable
gap between trade receivable and payables leading to below average liquidity
position of the company. However, trade relative are reported to be fair. Business is active.
Payment terms are reported to be slow but correct. The company can be considered for business dealings 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 – 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 |
CARE |
|
Rating |
Long term rating: “BB” |
|
Rating Explanation |
Moderate credit quality and high credit
risk. |
|
Date |
05.12.2014 |
|
Rating Agency Name |
CARE |
|
Rating |
Short term rating: “A4” |
|
Rating Explanation |
Minimal degree of safety and very high
credit risk. |
|
Date |
05.12.2014 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter in
the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2014.
INFORMATION DECLINED BY
|
Name : |
Mr. Murugan |
|
Designation : |
Finance and Admn. Manager |
|
Contact No.: |
91-8754448878 |
|
Date : |
07.04.2015 |
LOCATIONS
|
Registered Office : |
Selvam Estates, A-2, Kaveri, 6th Cross Street, New Colony,
Chrompet, Chennai – 600044, Tamilnadu, India |
|
Tel. No. : |
91-44-24781190 |
|
Mobile No. : |
91-8754448878 (Mr. Murugan) |
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Fax No. : |
Not Available |
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E-Mail : |
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|
Website : |
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Administrative Office/ Factory : |
No. 70, Kundrathur Main Road, Moonram Katalai, Kundrathur, Chennai – 600122,
Tamilnadu, India |
DIRECTORS
As on 20.06.2013
|
Name : |
Mr. Venkata Chalapathi Kora |
|
Designation : |
Director |
|
Address : |
18-1-99/1, Yasoda Nagar, KT Road, Tirupathi – 517501, Andhra Pradesh,
India |
|
Date of Birth/Age : |
01.07.1946 |
|
Date of Appointment : |
23.10.2009 |
|
DIN No. : |
02791785 |
|
|
|
|
Name : |
Mr. Venkat Ramesh Kora |
|
Designation : |
Director |
|
Address : |
18-1-99/1, Yasoda Nagar, KT Road, Tirupathi – 517501, Andhra Pradesh,
India |
|
Date of Birth/Age : |
15.03.1979 |
|
Date of Appointment : |
23.10.2009 |
|
DIN No. : |
02791801 |
|
|
|
|
Name : |
Ms. Vijaya Kora |
|
Designation : |
Director |
|
Address : |
18-1-99/1, Yasoda Nagar, KT Road, Tirupathi – 517501, Andhra Pradesh,
India |
|
Date of Birth/Age : |
07.02.1961 |
|
Date of Appointment : |
23.10.2009 |
|
DIN No. : |
02795595 |
KEY EXECUTIVES
|
Name : |
Mr. Murugan |
|
Designation : |
Finance and Admn. Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 31.03.2014
|
Names of Shareholders |
No. of Shares |
Percentage of
Holding |
|
Venkata Chalapathi Kora |
715677 |
15.00 |
|
Vijaya Kora |
715677 |
15.00 |
|
Venkat Ramesh Kora |
3339826 |
70.00 |
|
Total |
4771180 |
100.00 |
Allottee as on 26.06.2014
|
Names of Allottee |
No. of Shares |
|
Vijaya Kora |
50000 |
|
Total |
50000 |
Allottees as on 30.04.2014
|
Names of Allottees |
No. of Shares |
|
Venkata Chalapathi Kora |
25000 |
|
Vijaya Kora |
10000 |
|
Venkat Ramesh Kora |
120000 |
|
Total |
155000 |
Allottee as on 30.06.2014
|
Names of Allottee |
No. of Shares |
|
Vanajakshi Paturu |
504859 |
|
Total |
504859 |
Allottee as on 22.01.2015
|
Names of Allottee |
No. of Shares |
|
Venkata Chalapathi Kora |
50000 |
|
Vijaya Kora |
50000 |
|
Total |
100000 |
As on 20.06.2013
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Production of Full Shoes and Shoe Uppers. |
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Products : |
Full Shoes and Shoe Uppers |
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Brand Names : |
-- |
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Agencies Held : |
-- |
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Exports : |
-- |
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Imports : |
-- |
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Terms : |
-- |
PRODUCTION STATUS: NOT DIVULGED
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
Not Divulged |
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Bankers : |
· State Bank of India, Leather International Branch, Mvj Towers, 177/1, Poonamallee High Road, Kilpauk, Chennai - 600010, Tamil Nadu, India ·
Andhra Bank, Mount Road Branch, No 95, Anna
Salai, Chennai - 600002, Tamilnadu, India |
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Facilities : |
NOTE: Export packing credit from banks are secured by hypothecation charge over entire assets which includes raw materials, stock-in-process, finished goods, consumable stores and receivable, etc., on Pari Pasu basis with other banks. |
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
R Subramanian and Company Chartered Accountants |
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Address : |
New No 6 (36), Krishnaswamy Avenue Mylapore, Luz, Chennai – 600004, Tamilnadu, India |
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Tel. No. : |
91-44-24992261/ 24991347/ 24994231 |
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Fax No. : |
91-44-24991408 |
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E-Mail : |
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Website : |
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Income-tax
PAN of auditor or auditor's firm : |
AAAFR0602F |
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Memberships : |
-- |
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Collaborators : |
-- |
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Related Parties : |
· Ajantha Shoe Company · Kora Leather Products Private Limited |
CAPITAL STRUCTURE
After 01.09.2014
Authorised Capital : Rs. 65.000 Millions
Issued, Subscribed & Paid-up Capital : Rs.
48.712 Millions
As on 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5,250,000 |
Equity Shares |
Rs.10/- each |
Rs. 52.500 Million |
|
|
|
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|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4771180 |
Equity Shares |
Rs.10/- each |
Rs. 47.712 Million |
|
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|
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|
FINANCIAL DATA
[all figures are
in Rupees Million]
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 |
47.712 |
43.962 |
23.762 |
|
(b) Reserves & Surplus |
7.298 |
2.473 |
(1.972) |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2)
Share Application money pending allotment |
10.097 |
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
65.107 |
46.435 |
21.790 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) Long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
3.749 |
1.267 |
0.000 |
|
(c) Other long term
liabilities |
79.629 |
59.279 |
66.648 |
|
(d) long-term
provisions |
0.248 |
0.104 |
0.000 |
|
Total Non-current
Liabilities (3) |
83.626 |
60.650 |
66.648 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
82.343 |
64.439 |
39.988 |
|
(b) Trade
payables |
32.167 |
30.348 |
5.866 |
|
(c) Other
current liabilities |
41.919 |
51.014 |
25.988 |
|
(d) Short-term
provisions |
2.101 |
1.294 |
2.233 |
|
Total Current
Liabilities (4) |
158.530 |
147.095 |
74.075 |
|
|
|
|
|
|
TOTAL |
307.263 |
254.180 |
162.513 |
|
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|
|
|
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II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
173.674 |
52.272 |
55.340 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
0.000 |
86.900 |
55.998 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.515 |
|
(d) Long-term Loan and Advances |
1.935 |
1.087 |
2.177 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
175.609 |
140.259 |
114.030 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
86.367 |
67.230 |
15.643 |
|
(c) Trade
receivables |
20.343 |
29.734 |
26.038 |
|
(d) Cash
and cash equivalents |
7.780 |
5.126 |
1.747 |
|
(e) Short-term
loans and advances |
9.545 |
11.729 |
4.791 |
|
(f) Other
current assets |
7.619 |
0.102 |
0.264 |
|
Total
Current Assets |
131.654 |
113.921 |
48.483 |
|
|
|
|
|
|
TOTAL |
307.263 |
254.180 |
162.513 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
304.913 |
245.792 |
154.721 |
|
|
|
Other Income |
7.953 |
4.385 |
2.780 |
|
|
|
TOTAL |
312.866 |
250.177 |
157.501 |
|
|
|
|
|
|
|
|
EXPENSES |
|
|
|
||
|
|
|
Cost of Materials Consumed |
176.304 |
142.705 |
84.563 |
|
|
|
Changes in inventories of finished goods and
work-in-progress |
(3.849) |
(14.191) |
(2.592) |
|
|
|
Employees benefits expense |
50.836 |
46.118 |
29.715 |
|
|
|
Depreciation |
11.775 |
8.952 |
7.226 |
|
|
|
Other expenses |
53.908 |
48.250 |
26.666 |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
7.535 |
6.545 |
2.747 |
|
|
|
|
|
|
|
|
|
TAX |
2.710 |
2.100 |
(1.513) |
||
|
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|
|
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|
|
PROFIT/
(LOSS) AFTER TAX |
4.825 |
4.445 |
4.260 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export of goods on FOB basis |
264.831 |
217.873 |
138.036 |
|
|
TOTAL EARNINGS |
264.831 |
217.873 |
138.036 |
|
|
|
|
|
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IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
39.729 |
25.146 |
NA |
|
|
TOTAL IMPORTS |
39.729 |
25.146 |
NA |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
1.06 |
1.37 |
1.79 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT/Sales) |
(%) |
1.58 |
1.81 |
2.75 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.45 |
3.91 |
2.59 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.12 |
0.14 |
0.13 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
1.26 |
1.39 |
1.84 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.83 |
0.77 |
0.65 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Share Capital |
23.762 |
43.962 |
47.712 |
|
Reserves & Surplus |
(1.972) |
2.473 |
7.298 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
10.097 |
|
Net
worth |
21.790 |
46.435 |
65.107 |
|
|
|
|
|
|
Long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
39.988 |
64.439 |
82.343 |
|
Total
borrowings |
39.988 |
64.439 |
82.343 |
|
Debt/Equity
ratio |
1.835 |
1.388 |
1.265 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Sales |
154.721 |
245.792 |
304.913 |
|
|
|
58.861 |
24.053 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Sales |
154.721 |
245.792 |
304.913 |
|
Profit |
4.260 |
4.445 |
4.825 |
|
|
2.75% |
1.81% |
1.58% |
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 |
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 |
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 |
Yes |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
10522656 |
01/09/2014 |
5,000,000.00 |
SME BRANCH |
TIRUPATHI, TIRUPATHI, ANDHRA PRADESH - 517502, INDIA |
C23288145 |
|
2 |
10502435 |
02/01/2014 |
6,000,000.00 |
STATE BANK OF INDIA |
SME BRANCH, TIRUPATHI, ANDHRA PRADESH - 517502, INDIA |
B97680599 |
|
3 |
10433998 |
11/06/2013 |
22,000,000.00 |
STATE BANK OF INDIA |
LEATHER INTERNATIONAL BRANCH, MVJ TOWERS, 177/1, |
B78352911 |
|
4 |
10424076 |
09/01/2015 * |
17,000,000.00 |
ANDHRA BANK |
MOUNT ROAD BRANCH, NO 95, ANNA SALAI,, CHENNAI, |
C41387481 |
|
5 |
10253181 |
01/09/2014 * |
167,700,000.00 |
STATE BANK OF INDIA |
SME BRANCH, TIRUPATHI BRANCH, TIRUPATHI, ANDHRA PRADESH - 517502, INDIA |
C32330649 |
* Date of charge modification
UNSECURED LOANS
|
PARTICULAR |
31.03.2014 (Rs.
In Million) |
31.03.2013 (Rs.
In Million) |
|
SHORT TERM
BORROWINGS |
|
|
|
From Bank – unsecured |
0.069 |
0.235 |
|
Unsecured Loan |
0.250 |
0.250 |
|
Total |
0.319 |
0.485 |
CORPORATE
INFORMATION
Subject started production of full Shoes and Shoe uppers at the Chennai Plant in April 2011 by doing job work for other factories and commenced direct exports in the month of August 2011. The company utilized 70% of the production capacity during the first year itself.
Subject is pioneer in implementation of lean manufacturing methods in the leather industry to achieve maximum productivity with minimum human resources and has implanted a latest robotic technology which has given proven results in the first year itself.
PERFORMANCE OF THE
COMPANY
The company have recorded a turnover of Rs. 304.900 Million for the year ended 31st March, 2014. The company has earned a profit after tax of Rs. 4.825 Million. The company is having sizable orders and is projecting a total turnover of Rs. 400.000 Million during the next financial year.
Their Kundrathur plant is working at its full capacity i.e. 100% of its total capacity. All the efforts are being taken to meet the customer quality requirements and shipping deadlines on time. For 2013 the sales for the existing customers has increased over 20% compared to last financial year.
Their new factory at Ranipet has been started its production from September, 2013. The total capacity of the factory is 3500 pairs per a day. This will be the first ever Leeds certified (by USGBC and IGBC) Green factory in the leather sector in India.
CONTINGENT
LIABILITIES (AS ON 31.03.2014)
· Letter of Credit facility from Bank: Rs. 8.583 Million (Previous Year Rs. 4.420 Million).
· Bank guarantees obtained from scheduled banks – Rs. 2.735 Million
· Estimated amount of contracts remaining to be executed on capital account and not provided for Nil (Previous year Rs. 13.926 Million).
FIXED ASSETS
· Land
· Office Equipment
· Factory Equipment
· Computer
· Vehicle
· Plant and Machinery
· Furniture and Fittings
· Electrical Installation
· Dies and Cast
· Air Conditioner
· Building
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.62.33 |
|
|
1 |
Rs.92.53 |
|
Euro |
1 |
Rs.67.60 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Analysis Done by
: |
SUM |
|
|
|
|
Report Prepared
by : |
MRI |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILITY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
2 |
|
--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 |
|
29 |
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.