MIRA INFORM REPORT

 

 

Report No. :

336024

Report Date :

11.08.2015

 

IDENTIFICATION DETAILS

 

Name :

ARMSTRONG WORLD INDUSTRIES (INDIA) PRIVATE LIMITED

 

 

Registered Office :

Boomerang, A-Wing, Unit No.304, 3rd Floor, Village Saki, Chandivali Farm Road,  Andheri (East), Mumbai – 400072, Maharashtra

Tel. No.:

91-30480800/30460418

 

 

Country :

India

 

 

Financials (as on) :

31.03.2014

 

 

Date of Incorporation :

24.03.1999

 

 

Com. Reg. No.:

11-119104

 

 

Capital Investment / Paid-up Capital :

Rs.2.986 Million

 

 

IEC No.:

0300062401

 

 

CIN No.:

[Company Identification No.]

U28920MH1999PTC119104

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

Not Available

 

 

PAN No.:

[Permanent Account No.]

AACCA0171F

 

 

Legal Form :

Private Limited Liability Company

 

                   

Line of Business :

Trader and Importer of False Ceilling Tiles and Flooring Tiles.

 

 

No. of Employees :

150 (Approximately)

 

 

RATING & COMMENTS

 

MIRA’s Rating :

A (63)

 

RATING

STATUS

PROPOSED CREDIT LINE

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

 

Status :

Good

 

 

Payment Behaviour :

Regular

 

 

Litigation :

Clear

 

 

Comments :

Subject is a subsidiary of “Armstrong World Industries, Mauritius.

 

It is an established company incorporated during the year 1999 having a good track record.

 

Available financial indicates company strong financial risk profile marked by healthy net worth position with zero borrowings and favorable gap between trade payable and trade receivable.

 

Fundamentals of the company are strong and healthy.

 

Trade relations are reported as fair. Business is active. Payment terms are reported to be regular and as per commitment.

 

In view of long track record, strong holding support and sound financial base, the company can be considered good for normal 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 – March 31, 2015

 

Country Name

Previous Rating

(31.12.2014)

Current Rating

(31.03.2015)

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

Not Available

Rating

Not Available

Rating Explanation

Not Available

Date

Not Available

 

 

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 31-03-2013.

 

 

INFORMATION PARTED BY (GENERAL DETAILS)

 

Name :

Mr. Dinesh Naik

Designation :

Assistant Manager

Contact No.:

91-22-30480800

Date :

10.08.2015

 

 

LOCATIONS

 

Registered Office :

Boomerang, A-Wing, Unit No.304, 3rd Floor, Village Saki, Chandivali Farm Road,  Andheri (East), Mumbai – 400072, Maharashtra, India

Tel. No.:

91-30480800/30460418

Mobile No.:

91-22-30480800 (Mr. Dinesh Naik)

Fax No.:

91-22-24913604 / 30460439

E-Mail :

cs@armstrong.com

helpdesk@armstrongindia.com 

tagarwal@armstrong.com

Website :

http://www.armstrong.com

 

 

Warehouse/ Branch:

Located At:

 

  • Delhi
  • Kolkata
  • Bangalore
  • Chennai
  • Mumbai (Bhiwandi)
  • Lucknow

 

 

DIRECTORS

 

As on 30.06.2014

 

Name :

Mr. Suresh Narsappa Talwar

Designation :

Director

Address :

9, A/3, Navjivan Society, Mori Road, Mahim, Mumbai – 400016, Maharashtra, Inida

Date of Birth/Age :

21.11.1937

Date of Appointment :

11.07.2001

DIN No.:

00001456

 

 

Name :

Mr. Sanjeev Dayaram Motiyani

Designation :

Director

Address :

Flat No. 6D, Angelica Building, Cosmos Lounge, Manpada, Thane – 400607, Maharashtra, India

Date of Appointment :

01.07.2011

PAN No.:

AEQPM9775E

DIN No.:

03544337

Other Directorship:

S.No.

CIN/LLPIN

Name of the Company/ LLP

Current designation of the Director/ Designated Partner

Date of appointment at current designation

Original date of appointment

Date of cessation

Company/ LLP Status

Defaulting status

1

U28920MH1999PTC119104

ARMSTRONG WORLD INDUSTRIES (INDIA) PRIVATE LIMITED

Director

01/07/2011

08/06/2011

-

Active

NO

 

 

Name :

Mr. Omprakash Chooharmal Karnaney

Designation :

Additional Director

Address :

29, B/5, Chembur, Navjivan, CHSL. Mahul Road, Chembur, Mumbai – 400074, Maharashtra, India

Date of Birth/Age :

06.07.1958

Date of Appointment :

16.06.2010

DIN No.:

03002848

Other Directorship:

S.No.

CIN/LLPIN

Name of the Company/ LLP

Current designation of the Director/ Designated Partner

Date of appointment at current designation

Original date of appointment

Date of cessation

Company/ LLP Status

Defaulting status

1

U28920MH1999PTC119104

ARMSTRONG WORLD INDUSTRIES (INDIA) PRIVATE LIMITED

Director

16/06/2010

09/03/2010

-

Active

NO

 

 

Name :

Mr. Michael John Jenkins

Designation :

Director

Address :

57, College St, Elsternwick Vic 3185, Melbourne, 3185, , Australia

Date of Appointment :

13.08.2011

DIN No.:

01789765

Other Directorship:

S.No.

CIN/LLPIN

Name of the Company/ LLP

Current designation of the Director/ Designated Partner

Date of appointment at current designation

Original date of appointment

Date of cessation

Company/ LLP Status

Defaulting status

1

U28920MH1999PTC119104

ARMSTRONG WORLD INDUSTRIES (INDIA) PRIVATE LIMITED

Director

13/08/2013

09/11/2005

-

Active

NO

 

 

Name :

Mr. Ramchandra Ganapati Hasyagar

Designation :

Director

Address :

103, Aster Block,Esteem Gardenia, Sahakara Nagar,, Bangalore - 560092, Karnataka, India

Date of Appointment :

01.05.2010

PAN No.:

AAAPH0599M

DIN No.:

00041314

Other Directorship:

S.No.

CIN/LLPIN

Name of the Company/ LLP

Current designation of the Director/ Designated Partner

Date of appointment at current designation

Original date of appointment

Date of cessation

Company/ LLP Status

Defaulting status

1

U28920MH1999PTC119104

ARMSTRONG WORLD INDUSTRIES (INDIA) PRIVATE LIMITED

Director

01/05/2010

27/03/2006

-

Active

NO

2

U74999PN2007PTC137041

WAVE Suspension Systems India Private Limited

Director

29/09/2008

25/05/2007

-

Active

NO

 

 

KEY EXECUTIVES

 

Name :

Mr. Dinesh Naik

Designation :

Assistant Manager

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

As on 30.06.2014

 

Names of Shareholders

 

No. of Shares

Armstrong World Industries Mauritius

 

298465

Armstrong World Industries Limited, United Kingdom

 

100

Total

 

298565

 

Equity Share Break up (Percentage of Total Equity)

 

As on 30.06.2014

 

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

100.00

Total

100.00

 

 

 

BUSINESS DETAILS

 

Line of Business :

Trader and Importer of False Ceilling Tiles and Flooring Tiles.

 

 

Products :
  • False Ceilling Tiles and Flooring Tiles

 

 

Brand Names :

Not Available

 

 

Agencies Held :

Not Available

 

 

Exports :

Not Available

 

 

Imports :

 

Products :

Finished Goods

Countries :
  • China
  • US
  • Taiwan
  • Australia

 

 

Terms :

 

Selling :

Cash and Advance Payment

 

 

Purchasing :

Cash and Advance Payment

 

 

PRODUCTION STATUS NOT AVAILABLE

 

 

GENERAL INFORMATION

 

Suppliers :

Reference :

Not Divulged

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Maximum Limit Dealt :

Not Divulged

Experience :

Not Divulged

Remark:

Not Divulged

 

 

Customers :

Wholesalers, Retailers and End Users

Reference :

Not Divulged

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Maximum Limit Dealt :

Not Divulged

Experience :

Not Divulged

Remark:

Not Divulged

 

 

No. of Employees :

150 (Approximately)

 

 

Bankers :

Bank Name

State Bank of India

Branch

Mumbai, Maharashtra, India

Person Name (With Designation)

Not Divulged

Contact Number

Not Divulged

Name of Account Holder

Not Divulged

Account Number

Not Divulged

Account Since (Date/Year of Account Opening)

Not Divulged

Average Balance Maintained (If Possible)

Not Divulged

Credit Facilities Enjoyed (If any)

Not Divulged

Account Operation

Not Divulged

Remarks (If any)

Not Divulged

 

  • State Bank of India, Commercial Branch, Justice G N Vaidhya Marg, Mumbai-400023, Maharashtra, India

 

 

 

 

 

Auditors :

 

Name :

B B S R And Company

Chartered Accountant

Address :

KMPG, Lodha Excelus.1st Floor, Apollo Mills Compound N.M. Joshi Marg, Mahalaxmi Mumbai-400011, Maharashtra, India

PAN N Income-tax PAN of auditor or auditor's firm :

AAKFB4397F

 

 

Memberships :

--

 

 

Collaborators :

--

 

 

Fellow Subsidiary

Company:
  • Worthington Armstrong Metal Products Company ( Shanghai) Limited china
  • Pearl Building Materials (International)Company Limited,  Chin
  • Armstrong World Industries (HK) Limited, Hongkong
  • Armstrong World Indus tr es (Australia) Pty Limited,  Australia
  • Armstrong Wood Products (Kunshan) Company Limited, Kuwait
  • Armstrong Metalldecken AG Argentina, Germany
  • Armstrong Building Products Company (Shanghai) Limited, China
  • Armstrong Advanced Flooring (China) Company Limited, China
  • Armstrong (China) Investment Company Limited, China
  • Armstrong China Holdings Limited, China

 

 

Ultimate Holding

Company:
  • Armstrong World Industries Inc. USA,  United States

 

 

CAPITAL STRUCTURE

 

As on 30.06.2014

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

1000000

Equity Shares

Rs.10/- each

Rs.10.000 Million

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

298565

Equity Shares

Rs.10/- each

Rs.2.986 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

2.986

3.601

3.601

(b) Reserves & Surplus

1555.339

1714.552

1442.867

(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)

1558.325

1718.153

1446.468

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

0.000

0.000

0.000

(b) Deferred tax liabilities (Net)

0.000

0.000

0.000

(c) Other long term liabilities

0.000

0.000

5.254

(d) long-term provisions

6.862

6.151

0.000

Total Non-current Liabilities (3)

6.862

6.151

5.254

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

0.000

0.000

0.000

(b) Trade payables

114.364

150.590

102.393

(c) Other current liabilities

62.737

75.685

72.655

(d) Short-term provisions

2.184

4.075

4.478

Total Current Liabilities (4)

179.285

230.350

179.526

 

 

 

 

TOTAL

1744.472

1954.654

1631.248

 

 

 

 

II.          ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

44.249

44.137

22.741

(ii) Intangible Assets

1.327

2.159

3.246

(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

0.000

0.000

0.000

(c) Deferred tax assets (net)

24.982

14.456

10.742

(d)  Long-term Loan and Advances

97.964

101.437

95.636

(e) Other Non-current assets

37.642

34.655

175.504

Total Non-Current Assets

206.164

196.844

307.869

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

582.412

485.304

510.340

(c) Trade receivables

272.118

215.410

170.790

(d) Cash and cash equivalents

659.908

1025.349

612.477

(e) Short-term loans and advances

18.982

21.353

24.056

(f) Other current assets

4.888

10.394

5.716

Total Current Assets

1538.308

1757.810

1323.379

 

 

 

 

TOTAL

1744.472

1954.654

1631.248

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

31.03.2014

31.03.2013

31.03.2012

 

SALES

 

 

 

 

Income

2479.120

2094.490

1936.620

 

Other Income

34.330

25.590

44.390

 

TOTAL

2513.450

2120.080

1981.010

 

 

 

 

 

Less

TOTAL EXPENSES

2201.300

1702.960

1496.790

 

 

 

 

 

 

PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION

312.150

417.120

484.170

 

 

 

 

 

Less

DEPRECIATION/ AMORTISATION

18.810

15.020

15.590

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE TAX

293.340

402.100

468.580

 

 

 

 

 

Less

TAX

97.560

130.420

149.790

 

 

 

 

 

 

PROFIT/ (LOSS)  AFTER TAX

195.780

271.680

318.790

 

 

 

 

 

Add

PREVIOUS YEARS’ BALANCE BROUGHT FORWARD 

1636.380

1364.700

1045.910

 

 

 

 

 

Less

APPROPRIATIONS

 

 

 

 

Transfer to General Reserve

300.840

0.000

 0.000

 

Utilized towards buyback of equity shares

0.610

0.000

 0.000

 

Total

301.450

0.000

0.000

 

 

 

 

 

 

Balance Carried to the B/S

1530.710

1636.380

1364.700

 

 

 

 

 

 

Earnings / (Loss) Per Share (Rs.)

 655.74

906.60

 1067.74

 

 

Particulars

 

 

 

31.03.2015

Sales Turnover

 

 

3000.000

 

 

 

 

 

Expected Sales (2015-2016) : Rs.3500.000 Million

 

The above information has been parted by Mr. Dinesh Naik (Assistant Manager)

 

 

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

 

Particulars

 

31.03.2014

31.03.2013

31.03.2012

Current Maturities of Long term debt

NA

0.000

0.000

Cash generated from operations

NA

NA

NA

Net cash flow from operating activity

NA

237.968

212.164

 

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2014

31.03.2013

31.03.2012

Net Profit Margin

(PAT / Sales)

(%)

7.90

12.97

16.46

 

 

 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)

17.06

20.72

28.92

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

0.19

0.23

0.32

 

 

 

 

 

Debt Equity Ratio

(Total Debt /Networth)

 

0.00

0.00

0.00

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

8.58

7.63

7.37

 

 

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

3.601

3.601

2.986

Reserves & Surplus

1442.867

1714.552

1555.339

Net worth

1446.468

1718.153

1558.325

long-term borrowings

0.000

0.000

0.000

Short term borrowings

0.000

0.000

0.000

Total borrowings

0.000

0.000

0.000

Debt/Equity ratio

0.000

0.000

0.000

 

 

 

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

1936.620

2094.490

2479.120

 

 

8.152

18.364

 

 

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

1936.620

2094.490

2479.120

Profit

318.790

271.680

195.780

 

16.46%

12.97%

7.90%

 

 

 

LOCAL AGENCY FURTHER INFORMATION

 

Sr. No.

Check list by info agents

Available in Report (Yes/No)

1

Year of establishment

Yes

2

Constitution of the entity -Incorporation details

Yes

3

Locality of the entity

Yes

4

Premises details

No

5

Buyer visit details

--

6

Contact numbers

Yes

7

Name of the person contacted

Yes

8

Designation of contact person

Yes

9

Promoter’s background

Yes

10

Date of Birth of Proprietor / Partners / Directors

Yes

11

Pan Card No. of Proprietor / Partners

Yes

12

Voter Id Card No. of Proprietor / Partners

No

13

Type of business

Yes

14

Line of Business

Yes

15

Export/import details (if applicable)

Yes

16

No. of employees

Yes

17

Details of sister concerns

Yes

18

Major suppliers

No

19

Major customers

No

20

Banking Details

Yes

21

Banking facility details

No

22

Conduct of the banking account

--

23

Financials, if provided

Yes

24

Capital in the business

Yes

25

Last accounts filed at ROC, if applicable

Yes

26

Turnover of firm for last three years

Yes

27

Reasons for variation <> 20%

--

28

Estimation for coming financial year

Yes

29

Profitability for last three years

Yes

30

Major shareholders, if available

Yes

31

External Agency Rating, if available

No

32

Litigations that the firm/promoter involved in

--

33

Market information

--

34

Payments terms

Yes

35

Negative Reporting by Auditors in the Annual Report

No

 

NOTE: Registered office of the company has been shifted from B2, G 01, Marathon Innova, Near Peninsula Corporate Park, Lower Parel, Mumbai – 400013, Maharashtra, India to the present address w.e.f.31.01.2013

 

 

OPERATIONS:

 

During the year, Company registered a growth of 18.36% in its net sales turnover from Rs.2,094.490 million in the previous year to Rs.2,479.120 million in the current year. The EBIDTA of 312.150 million has decreased by 25% over previous year and profit after tax of 195.780 million has also registered decreased by 27.94% over previous year.

 

The Sales of ceiling systems at Rs.2067.450 million during the year was 16.38% higher than the previous year. However, most of the gains are due to higher realization and not due to higher volumes generated. The Sales of flooring systems at Rs.411.670 million was 29.47% higher than the previous year.

 

There ceiling and flooring system is mainly used in commercial buildings. Based on the feedback from the architects, dealers and trade, the robust growth is expected to continue in the coming years also. Hence, the Company expects to grow the business substantially.

 

Background:

 

Armstrong World Industries (India) Private Limited (the Company) was incorporated under the Companies Act, 1956 (the Act) on 24 March 1999. The ultimate parent company, Armstrong World Industries Inc, is incorporated in the United States of America. The parent company is a large multinational company founded in 1860 and is a global leader in the design and manufacture of floors, ceilings and cabinets. The Company imports ceiling and flooring systems used for various commercial applications i.e. mineral fibre sound absorbing sheets, steel angle , metal ceiling tiles, wooden ceiling tiles, carpet tiles, wall floor, wall panel, PVC floor coverings and laminate floor coverings and sells these in the local market.

 

 

INDEX OF CHARGES

 

No Charges Exist for Company

 

 

FIXED ASSETS

 

  • Plant and equipment
  • Other plant and equipment
  • Furniture and fixtures
  • Vehicles
  • Motor vehicles
  • Office equipment
  • Computer equipments
  • Computer software

 

CMT REPORT (Corruption, Money Laundering & Terrorism]

 

The Public Notice information has been collected from various sources including but not limited to: The Courts, India Prisons Service, Interpol, etc.

 

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.63.75

UK Pound

1

Rs.98.75

Euro

1

Rs.69.87

 

 

INFORMATION DETAILS

 

Information Gathered by :

DIP

 

 

Analysis Done by :

DIV

 

 

Report Prepared by :

SUD

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

7

PAID-UP CAPITAL

1~10

7

OPERATING SCALE

1~10

7

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

7

--PROFITABILITY

1~10

7

--LIQUIDITY

1~10

7

--LEVERAGE

1~10

7

--RESERVES

1~10

7

--CREDIT LINES

1~10

7

--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

 

63

 

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

 

--

 

 

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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.