MIRA INFORM REPORT
|
Report No. : |
352844 |
|
Report Date : |
03.12.2015 |
IDENTIFICATION DETAILS
|
Name : |
VF BRANDS INDIA PRIVATE LIMITED (w.e.f. 05.01.2012) |
|
|
|
|
Formerly Known
As : |
VF ARVIND BRANDS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Bagmane Laurel, Block "B", Level 9, 8th Floor, Bagmane Tech
Park, C V Raman Nagar, Bangalore-560093, Karnataka |
|
Tel. No.: |
91-80-71030100 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2015 |
|
|
|
|
Date of
Incorporation : |
05.04.2006 |
|
|
|
|
Com. Reg. No.: |
08-067548 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 195.357 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U17110KA2006PTC067548 |
|
|
|
|
IEC No.: |
Not Divulged |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
BLRV05705A |
|
|
|
|
PAN No.: [Permanent Account No.] |
AACCV2727L |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject is engaged into designs, markets and distributes various VF
brand apparels to various franchisees and distributors across India.
(Registered Documents) |
|
|
|
|
No. of Employees
: |
Information declined by the Management |
RATING & COMMENTS
|
MIRA’s Rating : |
A (66) |
|
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 “’VF Mauritius Limited” (Mauritius) incorporated
in the year 2006. It is well-established company having fine track. For the year 2015, the company possesses good revenue base marked by
satisfactory profitability margin. The company possesses healthy financial risk profile marked by zero debt
balance sheet, decent cash accruals and good liquidity position. Trade relations are fair. Business is active. Payments are regular and
as per commitment. In view of strong holdings and financial support of promoters, 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
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
31-03-2015.
INFORMATION DECLINED
MANAGEMENT NON-COOPERATIVE
(Contact No: 91-80-71030100)
LOCATIONS
|
Registered/ Corporate Office : |
Bagmane Laurel, Block "B", Level 9, 8th Floor, Bagmane Tech
Park, C V Raman Nagar, Bangalore-560093, Karnataka, India |
|
Tel. No.: |
91-80-71030100/ 200/ 201 |
|
Fax No.: |
91-80-71030111 |
|
E-Mail : |
DIRECTORS
AS ON 30.09.2014
|
Name : |
Mr. Kanchan Kumar Pant |
|
Designation : |
Managing director |
|
Address : |
Villa 143 Adarsh Vista Vignana Nagar Main Road, Vibhutipura,
Maratahalli, Bangalore-560037, Karnataka, India |
|
Date of Birth/Age : |
01.09.1964 |
|
Qualification : |
B.Tech,
PGDM |
|
Experience : |
27
Years |
|
Date of Appointment : |
17.12.2007 |
|
PAN No.: |
ABZPP2153K |
|
DIN No.: |
00219582 |
|
|
|
|
Name : |
Mr. Aidan James O'meara |
|
Designation : |
Director |
|
Address : |
House No 6, Stanley Court, 9, Stanley Mound, Stanley, Na, Hong Kong |
|
Date of Birth/Age : |
28.12.1962 |
|
Date of Appointment : |
04.10.2007 |
|
DIN No.: |
00675215 |
|
|
|
|
Name : |
Mr. Laura Catherine Meagher |
|
Designation : |
Director |
|
Address : |
12, Captains Point, Greensboro, Nc, New York, 274553430, United States
of America |
|
Date of Birth/Age : |
24.03.1960 |
|
Date of Appointment : |
30.04.2012 |
|
DIN No.: |
05283251 |
|
|
|
|
Name : |
Mr. Curtis Andrew Holtz |
|
Designation : |
Alternate director |
|
Address : |
Via Sassa 10, 6900 Lugano Switzerland |
|
Date of Birth/Age : |
17.08.1962 |
|
Date of Appointment : |
03.01.2013 |
|
DIN No.: |
06455824 |
|
|
|
|
Name : |
Mr. Nitin Suresh Khanna |
|
Designation : |
Alternate director |
|
Address : |
18.11.1972 |
|
Date of Birth/Age : |
A/1003, Paloma, Hiranandani Estate, Patlipada, G B Road, Thane –
400607, Maharashtra, India |
|
Qualification : |
Chartered
Accountant |
|
Experience : |
17 Years |
|
Date of Appointment : |
25.08.2014 |
|
PAN No.: |
AHBPK8195J |
|
DIN No.: |
06642832 |
KEY EXECUTIVES
|
Name : |
Ms. Swati Baidya |
|
Designation : |
Secretary |
|
Address : |
309, Iris, Sonesta Cosmos, 10th Main, 13th Cross,
Maruthinagar, Maleshpallya, Bangalore-560075, Karnataka, India |
|
Date of Birth/Age : |
21.03.1983 |
|
Date of Appointment : |
14.03.2012 |
|
PAN No.: |
AKYPB3036F |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2015
|
Names of Shareholders |
No. of Shares |
|
VF Mauritius Limited, Mauritius |
19535690 |
|
International Securities Limited, Mauritius |
1 |
|
Total |
19535691 |
AS ON 30.09.2014
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged into designs, markets and distributes various VF
brand apparels to various franchisees and distributors across India.
(Registered Documents) |
||||||
|
|
|
||||||
|
Products : |
|
||||||
|
|
|
||||||
|
Brand Names : |
“Lee, Wrangler and
Vans’’ |
||||||
|
|
|
||||||
|
Agencies Held : |
-- |
||||||
|
|
|
||||||
|
Exports : |
Not Divulged |
||||||
|
|
|
||||||
|
Imports : |
Not Divulged |
||||||
|
|
|
||||||
|
Terms : |
Not Divulged |
PRODUCTION STATUS: NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Customers : |
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
No. of Employees : |
Information declined by the Management |
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Bankers : |
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Facilities : |
-- |
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Price
Watehouse LLP Chartered Accountants |
|
Address : |
The Millenia, 5th Floor,
Tower D, Murphy Road, Ulsoor, Banglaore – 560008, Karnataka, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AAFFP3698A |
|
|
|
|
Memberships : |
-- |
|
|
|
|
Collaborators : |
-- |
|
|
|
|
Fellow Subsidiary Company : |
·
VF Hong Kong Limited ·
VF Asia Limited ·
The H. D. Lee Company INC. ·
Wrangler Apparel Corp ·
Vans INC. ·
VF Sourcing India Private Limited, India (U74900KA2013FTC068407) |
CAPITAL STRUCTURE
AS ON 31.03.2015
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
25,000,000 |
Equity Shares |
Rs. 10/- each |
Rs. 250.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
19,535,691 |
Equity Shares |
Rs. 10/- each |
Rs. 195.357
Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
195.357 |
195.357 |
195.357 |
|
(b) Reserves & Surplus |
2478.492 |
1962.190 |
1288.786 |
|
(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) |
2673.849 |
2157.547 |
1484.143 |
|
|
|
|
|
|
(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 |
198.508 |
187.180 |
156.835 |
|
(d)
long-term provisions |
10.021 |
9.207 |
11.221 |
|
Total
Non-current Liabilities (3) |
208.529 |
196.387 |
168.056 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
(b)
Trade payables |
1042.657 |
910.279 |
651.101 |
|
(c)
Other current liabilities |
410.692 |
620.940 |
378.676 |
|
(d)
Short-term provisions |
259.483 |
226.141 |
119.566 |
|
Total
Current Liabilities (4) |
1712.832 |
1757.360 |
1149.343 |
|
|
|
|
|
|
TOTAL |
4595.210 |
4111.294 |
2801.542 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
34.170 |
48.194 |
55.857 |
|
(ii)
Intangible Assets |
154.512 |
265.309 |
390.955 |
|
(iii)
Capital work-in-progress |
12.795 |
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) |
177.991 |
164.927 |
117.006 |
|
(d) Long-term Loan
and Advances |
119.621 |
125.993 |
137.313 |
|
(e)
Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
499.089 |
604.423 |
701.131 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
708.438 |
397.293 |
490.520 |
|
(c)
Trade receivables |
1466.555 |
1357.249 |
819.618 |
|
(d)
Cash and cash equivalents |
1889.399 |
1581.223 |
772.990 |
|
(e)
Short-term loans and advances |
23.403 |
81.204 |
17.283 |
|
(f)
Other current assets |
8.326 |
89.902 |
0.000 |
|
Total
Current Assets |
4096.121 |
3506.871 |
2100.411 |
|
|
|
|
|
|
TOTAL |
4595.210 |
4111.294 |
2801.542 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from Operations |
5329.673 |
4727.349 |
3991.711 |
|
|
|
Other Income |
128.963 |
91.044 |
12.346 |
|
|
|
TOTAL (A) |
5458.636 |
4818.393 |
4004.057 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
0.000 |
0.093 |
|
|
|
|
Purchases of Stock-in-Trade |
3117.714 |
2455.289 |
|
|
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
(228.996) |
6.177 |
|
|
|
|
Employees benefits expense |
320.620 |
242.146 |
|
|
|
|
CSR Expenditure |
7.635 |
0.000 |
|
|
|
|
Other expenses |
1287.283 |
1210.894 |
|
|
|
|
TOTAL (B) |
4504.256 |
3914.599 |
3466.090 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
954.380 |
903.794 |
537.967 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
8.309 |
14.366 |
3.111 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
946.071 |
889.428 |
534.856 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
130.677 |
160.846 |
176.202 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
815.394 |
728.582 |
358.654 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
299.092 |
55.178 |
(117.006) |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
516.302 |
673.404 |
475.660 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
1.236 |
22.148 |
NA |
|
|
TOTAL EARNINGS |
1.236 |
22.148 |
NA |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
26.43 |
34.47 |
24.35 |
|
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
Current Maturities of Long term debt |
NA |
NA |
NA |
|
|
|
|
|
|
Cash Generated from Operations |
NA |
NA |
NA |
|
|
|
|
|
|
Net Cash Flow from (used in) Operations |
479.491 |
878.667 |
646.173 |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
Net Profit Margin (PAT / Sales) |
(%) |
9.69 |
14.24 |
11.92 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/Sales) |
(%) |
17.91 |
19.12 |
13.48 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
18.51 |
18.46 |
13.36 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.30 |
0.34 |
0.24 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.39 |
2.00 |
1.83 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2013 |
31.03.2014 |
31.03.2015 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Share Capital |
195.357 |
195.357 |
195.357 |
|
Reserves & Surplus |
1288.786 |
1962.190 |
2478.492 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
1484.143 |
2157.547 |
2673.849 |
|
|
|
|
|
|
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 |
31.03.2013 |
31.03.2014 |
31.03.2015 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Sales |
3991.711 |
4727.349 |
5329.673 |
|
|
|
18.429 |
12.741 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2013 |
31.03.2014 |
31.03.2015 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Sales |
3991.711 |
4727.349 |
5329.673 |
|
Profit |
475.660 |
673.404 |
516.302 |
|
|
11.92% |
14.24% |
9.69% |
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 |
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) |
No |
|
16 |
No. of employees |
No |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
No |
|
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 |
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 |
-- |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
INDEX OF CHARGES: NO
CHARGES EXIST FOR COMPANY
OPERATIONS / STATEMENT OF COMPANY’S AFFAIRS
The Company has
completed an impressive year of performance showing continued growth in earning
in the financial year under review. Net Sales during the financial year was Rs.
5329.673 Million (FY 2013-14: Rs. 4,727.349 Million an increase of approximate
13% over the previous year.
The operating
profit before interest and depreciation stands at Rs. 954.380 Million as
against the previous year figure of operating profit before interest and
depreciation of Rs. 903.794 Million an increase of approximate 6% over the
previous year.
The entire portfolio of Company’s brands namely Lee, Wrangler and Vans
showed growths both in terms of volume as well as value. Vans Sales increased 3
times during the year as compared to last year. Also the Company observed
growth in Institutional Sales which almost doubled against last year. The
Company observed growth in Institutional Sales because of the increase in such
category in Indian market as a whole.
GENERAL INFORMATION
Subject
subsidiary of VF Corporation, USA (Ultimate holding company), was formed in the
year 2006, based on the approval from Foreign Investment Promotion Board,
Department of Economic Affairs, Ministry of Finance. The Company designs,
markets and distributes various VF brand apparels to various franchisees and
distributors across India.
FIXED ASSETS:
Tangible Assets
·
Plant and Equipment
·
Furniture and Fixtures
·
Vehicles
·
Office Equipment
·
Computer Equipments
· Leasehold Improvements
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. 66.62 |
|
|
1 |
Rs. 100.34 |
|
Euro |
1 |
Rs. 70.67 |
INFORMATION DETAILS
|
Information
Gathered by : |
KAM |
|
|
|
|
Analysis Done by
: |
AMR |
|
|
|
|
Report Prepared
by : |
IND |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
8 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
8 |
|
--PROFITABILIRY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
8 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
7 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--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 |
|
66 |
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.