IRA INFORM REPORT
|
Report No. : |
336412 |
|
Report Date : |
13.08.2015 |
IDENTIFICATION DETAILS
|
Name : |
MTR FOODS PRIVATE LIMITED (w.e.f. 04.11.2008) |
|
|
|
|
Formerly Known As
: |
MTR FOODS LIMITED |
|
|
|
|
Registered
Office : |
No.1, 2nd and 3rd Floor, 100 Feet Inner Ring Road, Ejipura, Ashwini Layout, Vivek Nagar, Bangalore – 560047, Karnataka |
|
Tel. No.: |
91-80-42528000 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
21.08.1996 |
|
|
|
|
Com. Reg. No.: |
08-021007 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.131.830 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U15136KA1996PTC021007 |
|
|
|
|
IEC No.: |
0796006300 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
BLRM02048E |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACM9878K |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacture and sale of ready-to-eat food products, instant food mixes, spices and masalas, vermicelli, snacks, milk based products and beverages. |
|
|
|
|
No. of Employees
: |
Information declined by the management |
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 |
|
Maximum Credit Limit : |
USD 4000000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Exist |
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|
|
|
Comments : |
Subject is an established company incorporated in 1996 and is engaged in ready-to-eat food products, instant food mixes, spices and masalas, vermicelli, snacks, milk based products and beverages etc. The subject is a wholly-owned subsidiary of Orkla Asia Pacific Pte.
Limited and has a good track record. The company’s overall financial position seems to be good with decent
profitability. Further, the rating also reflects company’s healthy financial risk
profile marked by adequate networth and sound balance sheet of the company. Trade relations are reported as fair. Business is active. Payment
terms are reported to be regular. 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 – 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
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 DENIED
Management Non Co-operative (91-80-42528000 / 40812100)
LOCATIONS
|
Registered / Corporate Office : |
No.1, 2nd and 3rd Floor, 100 Feet Inner Ring Road, Ejipura, Ashwini Layout, Vivek Nagar, Bangalore – 560047, Karnataka, India |
|
Tel. No.: |
91-80-42528000 / 40812100 |
|
Fax No.: |
91-80-26760227 |
|
E-Mail : |
|
|
Website : |
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|
|
|
|
Factory : |
PL.80, Bommasandra Industrial Area, Bangalore – 560099, Karnataka,
India |
DIRECTORS
AS ON 30.09.2014
|
Name : |
Mr. Jordahl Paul |
|
Designation : |
Director |
|
Address : |
Anggardsplatsen 2, 413 19, Gothenburg, 41319, Sweden |
|
Date of Birth/Age : |
25.10.1961 |
|
Date of Appointment : |
16.12.2008 |
|
DIN No.: |
02510528 |
|
|
|
|
Name : |
Mr. Sanjay Sharma |
|
Designation : |
Director |
|
Address : |
Flat No.1, Indraprastha Enero, No.9, Kingston Road, Richmond Town,
Bangalore - 560025, Karnataka, India |
|
Date of Birth/Age : |
28.12.1966 |
|
Date of Appointment : |
01.02.2009 |
|
DIN No.: |
02581107 |
|
|
|
|
Name : |
Mr. Stoltz Darre Niklas |
|
Designation : |
Director |
|
Address : |
Maridalsveien, 284, No-0872, Oslo, 000000, Norway |
|
Date of Birth/Age : |
04.10.1970 |
|
Date of Appointment : |
05.05.2009 |
|
DIN No.: |
02613683 |
|
|
|
|
Name : |
Mr. Hagstrom Clas Goran |
|
Designation : |
Director |
|
Address : |
Rostockinkatu 2 B, Fi-20250, Turku, 000000, Finland |
|
Date of Birth/Age : |
20.02.1949 |
|
Date of Appointment : |
05.05.2009 |
|
DIN No.: |
02613870 |
|
|
|
|
Name : |
Mr. Are Nakkim |
|
Designation : |
Director |
|
Address : |
Bergers Borgveien, 10 , 1519, Moss, 000000, Norway |
|
Date of Birth/Age : |
13.02.1964 |
|
Date of Appointment : |
07.09.2010 |
|
DIN No.: |
03103859 |
|
|
|
|
Name : |
Mr. Atle Vidar Johansen |
|
Designation : |
Additional Director |
|
Address : |
Solveien 120 B, Oslo, 1170, Norway |
|
Date of Appointment : |
17.03.2015 |
|
DIN No.: |
01361367 |
|
|
|
|
Name : |
Mr. Anders Berglie Thomas |
|
Designation : |
Additional Director |
|
Address : |
Briljantvagen 12, Kode, 44260, Sweden |
|
Date of Birth/Age : |
07.12.1948 |
|
Date of Appointment : |
11.02.2014 |
|
DIN No.: |
06811743 |
KEY EXECUTIVES
|
Name : |
Mr. Aneesh K |
|
Designation : |
Secretary |
|
Address : |
No.18/A, 5th Cross, 5th Main, Lakshmanappa Gardens, Banshankari 2nd
Stage, Bangalore - 560070, Karnataka,
India |
|
Date of Birth/Age : |
13.03.1987 |
|
Date of Appointment : |
01.06.2013 |
|
PAN No.: |
AVEPK7186J |
MAJOR SHAREHOLDERS
AS ON 30.09.2014
|
Names of Shareholders |
|
No. of Shares |
|
Orkla Asia Pacific Pte Limited, Singapore |
|
13182940 |
|
Orkla Brands AS, Norway |
|
60 |
|
|
|
|
|
Total |
|
13183000 |
Equity Share Break up (Percentage of Total Equity)
AS ON 30.09.2014
|
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 |
BUSINESS DETAILS
|
Line of Business : |
Manufacture and sale of ready-to-eat food products, instant food mixes, spices and masalas, vermicelli, snacks, milk based products and beverages. |
|
|
|
|
Products : |
|
|
|
|
|
Brand Names : |
Not Divulged |
|
|
|
|
Agencies Held : |
Not Divulged |
|
|
|
|
Exports : |
Not Divulged |
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|
|
|
Imports : |
Not Divulged |
|
|
|
|
Terms : |
|
|
Selling : |
Not Divulged |
|
|
|
|
Purchasing : |
Not Divulged |
PRODUCTION STATUS – NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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No. of Employees : |
Information declined by the management |
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Bankers : |
|
|
Auditors : |
|
|
Name : |
S.R. Batliboi and Associates LLP Chartered Accountants |
|
Address : |
UB City, Canberra Block,12th and 13th Floor, Vittal Mallya Road, Bangalore, Karnataka, India |
|
PAN No.: |
ACHFS9118A |
|
|
|
|
Memberships : |
Not Divulged |
|
|
|
|
Collaborators : |
Not Divulged |
|
|
|
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Holding company : |
· Orkla Asia Pacific Pte Limited, Singapore |
|
|
|
|
Ultimate
Holding company : |
· Orkla ASA, Norway |
|
|
|
|
Fellow Subsidiary
company : |
· Orkla Brands AS, Norway · Orkla Shared Services, Norway |
|
|
|
|
Subsidiary
company : |
· Rasoi Magic Foods (India) Private Limited, India |
CAPITAL STRUCTURE
AS ON 30.09.2014
Authorised Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
50000000 |
Equity Shares |
Rs.10/- each |
Rs.500.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
13183000 |
Equity Shares |
Rs.10/- each |
Rs.131.830 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 |
131.830 |
131.830 |
131.830 |
|
(b) Reserves & Surplus |
1262.642 |
1102.027 |
1043.822 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
8.298 |
9.702 |
1.975 |
|
Total Shareholders’
Funds (1) + (2) |
1402.770 |
1243.559 |
1177.627 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
35.918 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
21.682 |
18.603 |
10.986 |
|
Total Non-current
Liabilities (3) |
57.600 |
18.603 |
10.986 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short term
borrowings |
162.912 |
466.768 |
650.000 |
|
(b) Trade
payables |
422.445 |
338.136 |
293.608 |
|
(c) Other
current liabilities |
84.963 |
86.597 |
89.899 |
|
(d) Short-term
provisions |
158.022 |
154.460 |
146.311 |
|
Total Current
Liabilities (4) |
828.342 |
1045.961 |
1179.818 |
|
|
|
|
|
|
TOTAL |
2288.712 |
2308.123 |
2368.431 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
1197.410 |
1190.708 |
1179.983 |
|
(ii)
Intangible Assets |
180.751 |
231.214 |
276.261 |
|
(iii)
Capital work-in-progress |
11.466 |
24.167 |
21.328 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
270.702 |
270.702 |
270.702 |
|
(c) Deferred tax assets (net) |
12.550 |
6.391 |
0.050 |
|
(d) Long-term Loan and Advances |
61.845 |
27.517 |
42.266 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
1734.724 |
1750.699 |
1790.590 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
346.675 |
340.625 |
384.453 |
|
(c) Trade
receivables |
103.004 |
89.280 |
73.086 |
|
(d) Cash
and cash equivalents |
12.524 |
35.615 |
23.379 |
|
(e) Short-term
loans and advances |
91.085 |
85.457 |
94.667 |
|
(f) Other
current assets |
0.700 |
6.447 |
2.256 |
|
Total
Current Assets |
553.988 |
557.424 |
577.841 |
|
|
|
|
|
|
TOTAL |
2288.712 |
2308.123 |
2368.431 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
|
|
|
|
|
NET SALES &
OTHER INCOME |
47.193 |
40.889 |
34.700 |
|
|
|
|
|
|
|
Less |
TOTAL EXPENSES |
42.940 |
37.827 |
30.749 |
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
4.253 |
3.062 |
3.951 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
0.280 |
0.569 |
0.663 |
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION |
3.973 |
2.493 |
3.288 |
|
|
|
|
|
|
|
Less |
PROVISIONS &
WRITE-OFFS |
0.000 |
0.000 |
0.142 |
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
1.579 |
1.553 |
1.492 |
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX |
2.394 |
0.940 |
1.654 |
|
|
|
|
|
|
|
Less |
TAX |
0.805 |
0.330 |
0.544 |
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
AFTER TAX |
1.589 |
0.610 |
1.110 |
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
4.265 |
3.683 |
2.600 |
|
|
|
|
|
|
|
Add / Less |
PROFIT / (LOSS)
FROM DISCONTINUING OPERATIONS |
0.017 |
(0.028) |
(0.027) |
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
5.871 |
4.265 |
3.683 |
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
0.12 |
-- |
-- |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current Maturities of Long term debt |
NA |
NA |
NA |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net cash flow from (used in) operations |
447.784 |
397.719 |
380.085 |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Return on Total Assets (PBT/Total Assets) |
(%) |
0.12 |
0.05 |
0.08 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.14 |
0.38 |
0.55 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.67 |
0.53 |
0.49 |
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 |
131.830 |
131.830 |
131.830 |
|
Reserves & Surplus |
1043.822 |
1102.027 |
1262.642 |
|
Share Application money pending
allotment |
1.975 |
9.702 |
8.298 |
|
Net
worth |
1177.627 |
1243.559 |
1402.770 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
35.918 |
|
Short term borrowings |
650.000 |
466.768 |
162.912 |
|
Total
borrowings |
650.000 |
466.768 |
198.830 |
|
Debt/Equity
ratio |
0.552 |
0.375 |
0.142 |
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 |
|
Net Sales & Other Income |
34.700 |
40.889 |
47.193 |
|
|
|
17.836 |
15.417 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
Rs.
In Million |
Rs.
In Million |
Rs.
In Million |
|
Net Sales & Other
Income |
34.700 |
40.889 |
47.193 |
|
Profit |
1.110 |
0.610 |
1.589 |
|
|
3.20% |
1.49% |
3.37% |
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 |
No |
|
8 |
Designation of contact person |
No |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
No |
|
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) |
No |
|
16 |
No. of employees |
No |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
Yes |
|
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 |
No |
|
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 |
Yes |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
LITIGATION DETAILS:
|
CASE PENDING
Lower
Court Details [Appeal from below case.]
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||
UNSECURED LOANS:
|
Particulars |
31.03.2014 Rs. In Million |
31.03.2013 Rs. In Million |
|
Long Term Borrowings |
|
|
|
Long-term maturities of finance lease obligations |
35.918 |
0.000 |
|
|
|
|
|
Short Term Borrowings |
|
|
|
Rupee term loans from banks |
162.912 |
466.768 |
|
|
|
|
|
Total |
198.830 |
466.768 |
INDEX OF CHARGE:
|
Sr. No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
80005315 |
04/08/2000 |
23,000,000.00 |
Karnataka Bank Limited |
Kasturba Road, Bangalore, Karnataka - 560001, India |
- |
FIXED ASSETS:
·
Land
·
Building
·
Plant and Machinery
·
Furniture and Fixture
·
Office Equipment
·
Computer
·
Vehicles
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.64.83 |
|
|
1 |
Rs.101.00 |
|
Euro |
1 |
Rs.71.82 |
INFORMATION DETAILS
|
Information
Gathered by : |
PRT |
|
|
|
|
Analysis Done by
: |
HNA |
|
|
|
|
Report Prepared
by : |
NKT |
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 |
YES |
|
--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 |
||
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.