MIRA INFORM REPORT
|
Report No. : |
319080 |
|
Report Date : |
24.04.2015 |
IDENTIFICATION DETAILS
|
Name : |
CONDOR FOOTWEAR (INDIA) LIMITED |
|
|
|
|
Registered
Office : |
A-1, 3503-3504, Sachin GIDC Sachin Surat – 395008, Gujarat |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
24.11.1995 |
|
|
|
|
Com. Reg. No.: |
04-028221 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs. 25.003 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U19129GJ1995PLC028221 |
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|
|
|
IEC No.: |
Not Available |
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|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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|
|
|
PAN No.: [Permanent Account No.] |
AAACC9540N |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
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|
Line of Business
: |
Subject is engaged in manufacturing of Footwear with PU sole |
|
|
|
|
No. of Employees
: |
Not Divulged |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (51) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Good |
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|
|
Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a well-established company having fine track. The rating reflects company’s healthy financial risk profile marked by
sound liquidity position and decent profitability during FY 2014. Trade relations reported to be fair. Business is active. Payments are
reported to be regular and as per commitments. 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.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE RATING |
|
Rating |
Long term Bank facility A- |
|
Rating Explanation |
Adequate degree of safety and low credit
risk |
|
Date |
23 March 2015 |
|
Rating Agency Name |
CARE RATING |
|
Rating |
Short term Bank facility A2+ |
|
Rating Explanation |
Strong Degree of safety and low credit risk |
|
Date |
23 March 2015 |
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
Management non co-operative
LOCATIONS
|
Registered Office : |
A-1, 3503-3504, Sachin GIDC Sachin Surat – 395008, Gujarat |
|
Tel. No.: |
91-261-6778000 |
|
Mobile No.: |
Not Available |
|
Fax No.: |
91-261-6778000 |
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E-Mail : |
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|
Website : |
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|
Location : |
Owned |
|
|
|
|
Factory 2: |
Condor Footwear (U.P.) Sikandra, 7 Km, Agra-Mathura Road, Agra –
282007, Uttar Pradesh, India |
|
Tel. No.: |
91-562-3259822 |
|
Fax No.: |
91-562-2640396 |
|
|
|
|
Factory 3: |
(Unit 2), Hojiwala Industrial Estate Main Gate 2, Road No.10, Plot
No.B-19/7, Surat, Gujarat, India |
DIRECTORS
As on : 30.09.2015
|
Name : |
Mr. Virginio Abbondio Fidanza |
|
Designation : |
Director |
|
Address : |
Via Lonbardia 16-25028, Verdlanuava – B, 9-Verolanuova, B S, |
|
Date of Appointment : |
17.04.1997 |
|
DIN No.: |
02544737 |
|
|
|
|
Name : |
Mr. Jaikishan Sugnomal Adnani |
|
Designation : |
Director |
|
Address : |
11, Shakti Nagar Society, Opp. Gate Way Hotel, Parle PPint,
Athwalines, Surat – 395007, Gujarat, India |
|
Date of Appointment : |
01.04.2014 |
|
DIN No.: |
00164890 |
|
|
|
|
Name : |
Mr. Dipak Jaikishan Adnani |
|
Designation : |
Director |
|
Address : |
11, Shakti Nagar Society, Opp. Gate Way Hotel, Parle Point,
Athwalines, Surat – 395007, Gujarat, India |
|
Date of Appointment : |
01.10.2013 |
|
DIN No.: |
02498627 |
|
|
|
|
Name : |
Mr. Rakesh Bhagwandas |
|
Designation : |
Director |
|
Address : |
303, Trishla Apt. Parle Point, Athwalines, Surat – 395007, Gujarat,
India |
|
Date of Appointment : |
01.04.2014 |
|
DIN No.: |
00164785 |
|
|
|
|
Name : |
Mr. Ruggero Abbiati |
|
Designation : |
Director |
|
Address : |
Via Bettengo 78 (Road), 25026 Pontevico (Village), Brescia (Province),
25026 Italy |
|
Date of Birth / Age : |
15.05.1969 |
|
Date of Appointment : |
21.01.2013 |
|
DIN No.: |
06488056 |
|
|
|
|
Name : |
Mr. Nivesh Khanna Kismatrai |
|
Designation : |
Director |
|
Address : |
101, Prasthan Appartments, Somnath Road, Umra Jakat Naka, Surat –
395007, Gujarat, India |
|
Date of Birth / Age: |
14.06.1973 |
|
Date of Appointment : |
30.09.2014 |
|
DIN No.: |
00217822 |
|
|
|
|
Name : |
Mr. Sachinlal Shantilal Jain |
|
Designation : |
Director |
|
Address : |
102, Moil Park Society, New City light Road, Surat – 395007, Gujarat,
India |
|
Date of Birth / Age: |
12.07.1961 |
|
Date of Appointment : |
30.09.2014 |
|
DIN No.: |
05113636 |
KEY EXECUTIVES
|
Name : |
Dhiren R Dave |
|
Designation : |
COMPANY SECRETARY |
|
Address : |
D-412 International Trade Center, Majura Gate, Ring Road, SURAT- 395002, Gujarat, India |
|
Tel. No.: |
91-79-2475122/2460903 |
|
Mobile No.: |
91-9824115061 |
|
Email id : |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on : 30.09.2014
|
Names of Shareholders |
|
No. of Shares |
|
Adnani Jaikishan Sugnomal |
|
1224625 |
|
Adnani Deepa Jaikishan |
|
100 |
|
Condor Trade S.R.L., Italy |
|
1225137 |
|
Sval SRL, Italy |
|
50117 |
|
Adnani Divya Jaikishan |
|
100 |
|
Adnani Deepak Jaikishan |
|
100 |
|
Adant Heer Dipak |
|
100 |
|
Total |
|
2500279 |
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s),
Non-resident Indian(s) or Overseas Corporate bodies or Others |
49.00 |
|
Bodies corporate |
2.00 |
|
Directors or relatives of Directors |
49.00 |
|
Total |
100.00 |
%20LIMITED-319080_MIRA.doc%2024-Apr-2015_files/image012.gif)
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in manufacturing of Footwear with PU sole |
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Products : |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
Not Divulged |
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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No. of Employees : |
Not Divulged |
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Bankers : |
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Facilities : |
(Rs.
In Million)
|
|
Auditors : |
|
|
Name : |
S. Gandhi And Associates Chartered Accountants |
|
Address : |
3001, World Trade Center, Ring Road, Surat – 395002, Gujarat, India |
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PAN No.: |
ABPPG8411K |
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|
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Associates/Subsidiaries : |
Not Available |
CAPITAL STRUCTURE
As on : 30.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3000000 |
Equity Shares |
Rs.10/- each |
Rs.30.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2500279 |
Equity Shares |
Rs.10/- each |
Rs.25.003
Million |
|
|
|
|
|
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 |
25.003 |
25.003 |
25.003 |
|
(b) Reserves & Surplus |
740.387 |
622.008 |
473.776 |
|
(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) |
765.390 |
647.011 |
498.779 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
1.569 |
5.317 |
|
(b) Deferred tax liabilities
(Net) |
10.680 |
8.074 |
7.438 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total
Non-current Liabilities (3) |
10.680 |
9.643 |
12.755 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
110.762 |
46.982 |
27.875 |
|
(b) Trade payables |
187.022 |
210.918 |
125.077 |
|
(c) Other current liabilities |
59.164 |
29.177 |
53.752 |
|
(d) Short-term provisions |
67.303 |
94.886 |
135.654 |
|
Total
Current Liabilities (4) |
424.251 |
381.963 |
342.358 |
|
|
|
|
|
|
TOTAL |
1200.321 |
1038.617 |
853.892 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
432.606 |
201.813 |
166.250 |
|
(ii) Intangible Assets |
1.259 |
1.116 |
1.207 |
|
(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 |
0.002 |
42.902 |
42.902 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
6.885 |
38.988 |
16.215 |
|
(e) Other Non-current assets |
7.289 |
6.454 |
0.301 |
|
Total
Non-Current Assets |
448.041 |
291.273 |
226.875 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
418.501 |
378.606 |
268.644 |
|
(c) Trade receivables |
216.562 |
207.148 |
153.610 |
|
(d) Cash and cash equivalents |
5.818 |
3.285 |
3.341 |
|
(e) Short-term loans and
advances |
111.399 |
158.305 |
201.422 |
|
(f) Other current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
752.280 |
747.344 |
627.017 |
|
|
|
|
|
|
TOTAL |
1200.321 |
1038.617 |
853.892 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Revenue from operation |
1344.100 |
1407.410 |
1065.046 |
|
|
Other Income |
66.334 |
12.852 |
20.382 |
|
|
TOTAL
(A) |
1410.434 |
1420.262 |
1085.428 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
737.437 |
698.748 |
496.317 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(69.401) |
(48.974) |
0.605 |
|
|
Employees benefits expense |
71.285 |
61.180 |
46.227 |
|
|
Other expenses |
428.452 |
426.887 |
290.933 |
|
|
TOTAL
(B) |
1167.773 |
1137.841 |
834.082 |
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (C) |
242.661 |
282.421 |
251.346 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
7.785 |
3.846 |
4.735 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
234.876 |
278.575 |
246.611 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION (F) |
33.908 |
30.568 |
26.148 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F) (G) |
200.968 |
248.007 |
220.463 |
|
|
|
|
|
|
|
Less |
TAX
(I) |
53.338 |
79.772 |
72.321 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-I)
(J) |
147.630 |
168.235 |
148.142 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
59.05 |
67.29 |
59.25 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
|
|
|
|
Net Profit Margin (PAT/Sales) |
(%) |
10.98 |
11.95 |
13.91 |
|
|
|
|
|
|
|
Operating Profit Margin (PBITD/Sales) |
(%) |
18.05 |
20.07 |
23.60 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
16.74 |
24.91 |
27.18 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.26 |
0.38 |
0.44 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.14 |
0.08 |
0.07 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.77 |
1.96 |
1.83 |
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 |
25.003 |
25.003 |
25.003 |
|
Reserves & Surplus |
473.776 |
622.008 |
740.387 |
|
Net
worth |
498.779 |
647.011 |
765.390 |
|
|
|
|
|
|
long-term borrowings |
5.317 |
1.569 |
0.000 |
|
Short term borrowings |
27.875 |
46.982 |
110.762 |
|
Total
borrowings |
33.192 |
48.551 |
110.762 |
|
Debt/Equity
ratio |
0.067 |
0.075 |
0.145 |
%20LIMITED-319080_MIRA.doc%2024-Apr-2015_files/image013.gif)
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 |
1065.046 |
1407.410 |
1344.100 |
|
|
|
32.145 |
(4.498) |
%20LIMITED-319080_MIRA.doc%2024-Apr-2015_files/image014.gif)
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 |
1065.046 |
1407.410 |
1344.100 |
|
Profit |
148.142 |
168.235 |
147.630 |
|
|
13.91% |
11.95% |
10.98% |
%20LIMITED-319080_MIRA.doc%2024-Apr-2015_files/image015.gif)
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info Agents |
Available in
Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
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 |
No |
|
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 |
CURRENT MATURITIES OF
LONG-TERM DEBT
Rs. In Million
|
Particular |
30.09.2014 |
30.09.2013 |
31.03.2012 |
|
|
|
|
|
|
Current maturities of long-term debt |
1.606 |
3.724 |
4.641 |
|
|
|
|
|
UNSECURED LOAN
(Rs.
In Million)
|
Particulars |
As
on 31.03.2014 |
As
on 31.03.2013 |
|
Short Term
Borrowing |
|
|
|
Other loans and Advances |
60.000 |
0.000 |
|
Total |
60.000 |
0.000 |
|
|
|
|
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10556656 |
26/02/2015 |
120,000,000.00 |
INDUSIND BANK LIMITED |
SHOP NO.2 AND 3, "PURV PRIME", NATUBHAI CIRCLE,, |
C47554431 |
|
2 |
10550944 |
25/11/2014 |
170,000,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W |
C44510428 |
|
3 |
10532729 |
11/06/2014 |
170,000,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W |
C34538272 |
|
4 |
10375694 |
11/06/2014 * |
170,000,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W |
C34538934 |
|
5 |
10347140 |
04/06/2014 * |
170,000,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W |
C34536532 |
* Date of charge modification
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners, controlling
shareholders or senior officers as terrorist or terrorist organization or whom
notice had been received that all financial transactions involving their assets
have been blocked or convicted, found guilty or against whom a judgement or
order had been entered in a proceedings for violating money-laundering,
anti-corruption or bribery or international economic or anti-terrorism sanction
laws or whose assets were seized, blocked, frozen or ordered forfeited for
violation of money laundering or international anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper payments
to government officials for engaging in prohibited transactions or with
designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.81 |
|
|
1 |
Rs.93.85 |
|
Euro |
1 |
Rs.67.58 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUM |
|
|
|
|
Report Prepared
by : |
SUJ |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILITY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--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 |
|
51 |
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.