MIRA INFORM REPORT
|
Report No. : |
352979 |
|
Report Date : |
05.12.2015 |
IDENTIFICATION DETAILS
|
Name : |
GIA INDIA LABORATORY PRIVATE LIMITED |
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|
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Registered
Office : |
10th Floor, Trade Centre, Bandra Kurla Complex, Bandra
(East), Mumbai – 400051, Maharashtra |
|
Tel. No.: |
91-22-40851599/ 40851500/ 40700383 |
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|
Country : |
India |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
26.09.2007 |
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Com. Reg. No.: |
11-174491 |
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Capital
Investment / Paid-up Capital : |
Rs.989.578 Million |
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|
CIN No.: [Company Identification
No.] |
U36912MH2007PTC174491 |
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IEC No.: |
0307088588 |
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TAN No.: [Tax Deduction & Collection
Account No.] |
MUMG12915A |
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PAN No.: [Permanent Account No.] |
AACCG9457G |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Trader of Diamonds and Jewellery (Confirmed by management) |
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|
No. of Employees
: |
100 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (50) |
|
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 subsidiary of GIA Holding INC, United States incorporated
in the year 2007. As per Registrar of Companies the date of balance sheet (i.e.
financial filed) is shown as 31.03.2015 but the financials are not available
from any sources. For the financial year ended 2014, the company registered healthy
operational activity marked by decent top line growth along with
profitability margin of 5.7%. The company has strong financial base, efficient net worth position
marked by zero debt balance sheet profile. Trade relations are fair. Business is active. Payments are regular and
as per commitments. In view of aforesaid, it 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 |
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
31-03-2015.
INFORMATION PARTED BY
|
Name : |
Ms. Bhairavi Prashant Sharma |
|
Designation : |
Company Secretary |
|
Contact No.: |
91-40851500 |
|
Date : |
04.12.2015 |
LOCATIONS
|
Registered Office : |
10th Floor, Trade Centre, Bandra Kurla Complex, Bandra
(East), Mumbai – 400051, Maharashtra, India |
|
Tel. No.: |
91-22-40851599/ 40851500/ 40700383 |
|
Fax No.: |
91-22-40851550 |
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E-Mail : |
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Website : |
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Location: |
Owned |
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Locality: |
Commercial |
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|
Branches |
Located At:
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DIRECTORS
As on: 30.09.2014
|
Name : |
Mr. Nirupa Kiran Bhatt |
|
Designation : |
Director |
|
Address : |
5C, Runwal Park, Next to Akbarally’s, Sion Trombay Road, Chembur,
Mumbai – 400071, Maharashtra, India |
|
Date of Birth/Age : |
18.05.1954 |
|
Date of Appointment : |
17.01.2008 |
|
DIN No. : |
02006089 |
|
PAN No.: |
AAHPB1860E |
|
|
|
|
Name : |
Mr. Thomas Merril Moses |
|
Designation : |
Director |
|
Address : |
18, Canoe Brook Dr. Princeton JCT, NJ, 08550, USA |
|
Date of Birth/Age : |
18.12.1955 |
|
Date of Appointment : |
17.01.2008 |
|
DIN No. : |
01863727 |
|
|
|
|
Name : |
Mr. David John Tearle |
|
Designation : |
Director |
|
Address : |
11 Tunis Laguha Niguel, CA 92677, USA |
|
Date of Birth/Age : |
26.09.1960 |
|
Date of Appointment : |
14.09.2009 |
|
DIN No. : |
02791618 |
|
|
|
|
Name : |
Susan Mary Jacques |
|
Designation : |
Director |
|
Address : |
804, Loveland Drive, Omaha Nebraska – 68114, USA |
|
Date of Birth/Age : |
14.06.1959 |
|
Date of Appointment : |
13.09.2013 |
|
DIN No. : |
06649866 |
KEY EXECUTIVES
|
Name : |
Ms. Bhairavi Prashant Sharma |
|
Designation : |
Company Secretary |
|
Address : |
F/16, 1st Floor, Sitaram Building, Crawford Market, Mumbai
– 400001, Maharashtra, India |
|
Date of Birth/Age : |
19.10.1983 |
|
Date of Appointment : |
20.06.2013 |
|
PAN No.: |
AKLPA9125F |
|
|
|
|
Name : |
Mihir Doshi and Associates |
|
Designation : |
Company Secretaries |
|
Address : |
308, Orchin Plaza, Behind Gokul Shopping Centre, Off. S.V. Road,
Borivali (West), Mumbai – 400092, India |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
|
Names of Shareholders |
No. of Shares |
%age
holding |
|
Gia Hoildings, Inc, United of America |
98499039 |
99.54 |
|
Gemological Institute of America, Inc, United of America |
458805 |
0.46 |
|
Total |
98957844 |
100.00 |
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 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Trader of Diamonds and Jewellery (Confirmed by management) |
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Products : |
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Brand Names : |
Not Divulged |
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Agencies Held : |
Not Divulged |
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Exports : |
Not Divulged |
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Imports : |
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Products : |
Rough Diamond |
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Countries : |
Germany |
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Terms : |
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Selling : |
Cash and Credit (30/60/90 Days) |
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Purchasing : |
Cash and Credit (30/60/90 Days) |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
End Users and OEMs
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No. of Employees : |
100 (Approximately) |
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Bankers : |
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Auditors : |
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|
Name : |
Deloitte Haskins and Sells LLP Chartered Accountant |
|
Address : |
Indiabulls Finance Centre, Tower 3, 27– 32 Floor, Elphinstone Mill Compound, Senapati Bapat Marg, Elphinstone (West), Mumbai – 400013, Maharashtra, India |
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Email: |
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PAN N Income-tax PAN of auditor or auditor's firm : |
AACFD4815A |
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Memberships : |
- |
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Collaborators : |
- |
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Holding company: |
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Ultimate Holding Company: |
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Fellow Subsidiary Company: |
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CAPITAL STRUCTURE
As on 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
130000000 |
Equity Shares |
Rs.10/- each |
Rs.1300.000 Million |
|
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|
|
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
98957844 |
Equity Shares |
Rs.10/- each |
Rs.989.578 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 |
989.578 |
989.578 |
989.578 |
|
(b) Reserves & Surplus |
842.051 |
491.153 |
195.721 |
|
(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) |
1831.629 |
1480.731 |
1185.299 |
|
|
|
|
|
|
(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 |
0.000 |
|
(d) long-term provisions |
17.662 |
13.655 |
8.484 |
|
Total
Non-current Liabilities (3) |
17.662 |
13.655 |
8.484 |
|
|
|
|
|
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(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade payables |
1162.660 |
859.290 |
834.676 |
|
(c) Other current liabilities |
260.752 |
171.062 |
186.435 |
|
(d) Short-term provisions |
13.224 |
9.201 |
6.344 |
|
Total
Current Liabilities (4) |
1436.636 |
1039.553 |
1027.455 |
|
|
|
|
|
|
TOTAL |
3285.927 |
2533.939 |
2221.238 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
620.858 |
317.442 |
307.589 |
|
(ii) Intangible Assets |
37.975 |
28.020 |
17.470 |
|
(iii) Capital work-in-progress |
49.077 |
21.592 |
2.729 |
|
(iv) Intangible assets under
development |
0.000 |
0.000 |
13.099 |
|
(b) Non-current Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
34.917 |
41.821 |
31.629 |
|
(d) Long-term Loan and Advances |
1387.798 |
1024.241 |
870.999 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
2130.625 |
1433.116 |
1243.515 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
0.000 |
0.000 |
0.000 |
|
(c) Trade receivables |
581.530 |
456.788 |
259.814 |
|
(d) Cash and cash equivalents |
389.304 |
474.684 |
519.690 |
|
(e) Short-term loans and
advances |
158.249 |
164.631 |
192.472 |
|
(f) Other current assets |
26.219 |
4.720 |
5.747 |
|
Total
Current Assets |
1155.302 |
1100.823 |
977.723 |
|
|
|
|
|
|
TOTAL |
3285.927 |
2533.939 |
2221.238 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL |
6064.000 |
4424.330 |
3388.400 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
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|
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|
Administrative Expenses |
|
|
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|
Advertising Expenses |
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|
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TOTAL |
5513.600 |
3979.930 |
3142.550 |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
550.400 |
444.400 |
245.850 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
199.500 |
148.980 |
88.250 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
350.900 |
295.420 |
157.600 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
491.150 |
195.730 |
38.130 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
842.050 |
491.150 |
195.730 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
3.55 |
2.98 |
1.59 |
|
|
Particulars |
|
|
31.03.2015 |
|
Sales Turnover |
|
|
8270.000 |
|
|
|
|
|
The above information has been parted by Ms. Bhairavi Prashant Sharma
(Company Secretary)
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 |
|
Net cash flows from (used in) operations |
766.704 |
382.088 |
312.549 |
|
Net cash flows from (used in) operating activities |
282.941 |
80.372 |
(32.198) |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Return on Total Assets (PBT/Total Assets} |
(%) |
17.19 |
17.99 |
11.31 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.30 |
0.30 |
0.21 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.80 |
1.06 |
0.95 |
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 |
989.578 |
989.578 |
989.578 |
|
Reserves & Surplus |
195.721 |
491.153 |
842.051 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net worth |
1185.299 |
1480.731 |
1831.629 |
|
|
|
|
|
|
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) |
|
Total Income |
3388.400 |
4424.330 |
6064.000 |
|
|
|
30.573 |
37.060 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Total Income |
3388.400 |
4424.330 |
6064.000 |
|
Profit |
157.600 |
295.420 |
350.900 |
|
|
4.65% |
6.68% |
5.79% |
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 |
No |
|
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 |
Yes |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
DIAMOND INDUSTRY – INDIA
From time immemorial, India is well known in the world as the birthplace for diamonds. It is difficult to trace the origin of diamonds but history says that in the remote past, diamonds were mined only in India. Diamond production in India can be traced back to almost 8th Century B.C. India, in fact, remained undisputed leader till 18th Century when Brazilian fields were discovered in 1725 followed by emergence of S. Africa, Russia and Australia.
The achievement of the Indian diamond industry was possible only due to combination of the manufacturing skills of the Indian workforce and the untiring and unflagging efforts of the Indian diamantaires, supported by progressive Government policies.
The area of study of family owned diamond businesses derives its importance from the huge conglomerate of family run organizations which operate in the diamond industry since many generations.
Some of the basic traits of family run business enterprises include spirit of entrepreneurship, mutual trust lowers transaction costs, small, nimble and quick to react, information as a source of advantage and philanthropy.
Family owned diamond businesses need to improve on many fronts including higher standard of corporate governance, long-term performance – focused strategies, modern management and technology.
Utmost caution is to be exercised while dealing with some medium and large diamond traders which are usually engaged in fictitious import – export, inter-company transactions, financially assisted by banks. In the process, several public sector banks lost several hundred million rupees. They mostly diverted borrowed money for diamond business into real estate and capital markets.
Excerpts from Times of India dated 30th October 2010 is as under –
Gem & Jewellery Export Promotion Council in its statistical data has shown the export of polished diamonds to have increase by 28 % in February 2013. Compared to $ 1.4 bn worth of polished diamond export in February, 2012, India exported $ 1.84 billion worth of polished diamonds in February 2013. A senior executive of GJEPC said, “Export of cut and polished diamonds started falling month-wise after the imposition of 2 % of import duty on the polished diamonds. But February, 2013 has given a new ray of hope to the industry as the export of polished diamonds has actually increased by 28 %. It means the industry is on the track of recovery and round tripping of diamonds has stopped completely.” Demand has started coming from the US, the UK, Japan and China. India’s polished diamond export is expected to cross $ 21 bn in 2013-14.
The banking sector has started exercising restraint while following prudent risk management norms when lending money to gems and jewellery sector. This follows the implementation of Basel III accord – a global voluntary regulatory standard on bank capital adequacy, stress testing and market liquidity.
INDEX OF CHARGES: NO
CHARGES EXIST FOR COMPANY
NOTE:
The registered office address of the company
has been shifted from Unit Nos. 301-311, 3rd Floor, Trade Centre,
Bandra Kurla Complex, Bandra (East), Mumbai –
400051, Maharashtra, India to present address w.e.f. 19.02.2009
OPERATIONS
The Company has performed well in the fiscal 2013-14 by registering a sales volume of Rs. 6064.000 Million as against Rs. 4424.330 Million in the previous year registering a growth of nearly 37.06%.The net grading income amounted to Rs. 6045.070 Million as against Rs. 4390.190 Million in the previous year. The company has opened a branch office in Dubai -DMCC under the name of GIA India Laboratory Private Limited (DMCC Branch). The said branch has started its operations w.e.f 1st January, 2014.
FIXED ASSETS
Tangible assets
- Plant and equipment
- Furniture and fixtures
- Vehicles
- Office equipment
- Computer equipments
- Other equipments
Intangible assets
- 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,
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.66.84 |
|
|
1 |
Rs.101.04 |
|
Euro |
1 |
Rs.73.05 |
INFORMATION DETAILS
|
Information Gathered
by : |
PPT |
|
|
|
|
Analysis Done by
: |
TRI |
|
|
|
|
Report Prepared
by : |
MTN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILITY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--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 |
|
50 |
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.