MIRA INFORM REPORT
|
Report No. : |
354454 |
|
Report Date : |
15.12.2015 |
IDENTIFICATION DETAILS
|
Name : |
AKASH CERAMICS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
7, Yogi Complex, 3rd Floor, Opposite Drive In Cinema, Ahmedabad-
380054, Gujarat |
|
Tel. No.: |
91-79-26857400/ 26857500 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
20.10.1995 |
|
|
|
|
Com. Reg. No.: |
04-027954 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 46.266 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U26933GJ1995PTC027954 |
|
|
|
|
IEC No.: |
|
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
AHMA00272G |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCA3074A |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject is engaged in manufacturing Ceramic Tiles such as Vitrified,
Wall and Floor Tiles. (From Indirect Sources) |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (43) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject was established in the year 1995 and it is engaged in
manufacturing and trading of ceramic and vitrified tiles. For the financial year ended 2014, revenue of the company has reported
a growth of 15.20 and company has also achieved profit against previous year
loss. Rating continue to reflect the extensive experience of promoters in
the ceramics business, leading to established relationships with customers
and suppliers, and its strong brand. Rating also takes into consideration company’s established track
record of business operations supported by its above average financial
profile along with favorable gap between trade payables to its receivables
and moderate debt coverage indicators. Rating strengths are partially offset by the company’s moderately
large working capital requirements, susceptibility of its profitability
margins to volatility in raw materials prices and its exposure to intense
competition. Trade relations are reported as fair. Payment terms are reported to be
usually correct. The company can be considered for business dealings at usual trade
terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long term rating= BB |
|
Rating Explanation |
Inadequate Credit quality and high credit risk |
|
Date |
28.05.2015 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short term rating= A4+ |
|
Rating Explanation |
Minimal degree of safety and very high credit risk. |
|
Date |
28.05.2015 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2015.
INFORMATION DENIED
MANAGEMENT NON-COOPERATIVE
(91-79-26857400)
LOCATIONS
|
Registered Office : |
7, Yogi Complex, 3rd Floor, Opposite Drive In Cinema, Ahmedabad-
380054, Gujarat, India |
|
Tel. No.: |
91-79-26857400/26857500 |
|
Fax No.: |
91-79-26857600 |
|
E-Mail : |
|
|
|
|
|
Factory : |
Village Rajpura, Gandhinagar-Mansa Highway, Taulka Mansa, District Gandhinagar
- 382845, Gujarat, India |
|
Tel. No.: |
91-2763-272170/273170 |
|
Fax No.: |
91-2763-272200 |
DIRECTORS
AS ON 31.03.2015
|
Name : |
Mr. Paresh Natvarlal Akhani |
|
Designation : |
Director |
|
Address : |
8, Saumil Society Opposite Gurukul, Drive-In Road Memnagar, Ahmedabad - 380052, Gujarat, India |
|
Date of Birth/Age : |
31.10.1967 |
|
Date of Appointment : |
21.12.2011 |
|
PAN No.: |
ACPPA5245E |
|
DIN No.: |
00131317 |
|
Name : |
Mr. Ratilal Jagjivandas Akhani |
|
Designation : |
Director |
|
Address : |
41, Uganda Park, Opposite Sarthi Row Houses, Memnagar, Ahmedabad - 380052, Gujarat, India |
|
Date of Birth/Age : |
11.11.1936 |
|
Date of Appointment : |
07.12.1995 |
|
PAN No.: |
ABJPA0884A |
|
DIN No.: |
00718914 |
|
Name : |
Mr. Digant Ratilal Akhani |
|
Designation : |
Director |
|
Address : |
41, Uganda Park Society, Opposite Sarthi Row Houses, Memnagar, Ghatlodia, Ahmedabad - 380052, Gujarat, India |
|
Date of Birth/Age : |
17.02.1972 |
|
Date of Appointment : |
17.10.2005 |
|
PAN No.: |
AAJPA3686P |
|
DIN No.: |
00725764 |
|
Name : |
Mr. Natvarlal Jagjivandas Akhani |
|
Designation : |
Director |
|
Address : |
8, Saumil Society, Opposite Gurukul Government Colony, Drive In Road, Memnagar, Ahmedabad - 380052, Gujarat, India |
|
Date of Birth/Age : |
18.03.1941 |
|
Date of Appointment : |
01.12.2011 |
|
PAN No.: |
ACTPA4501H |
|
DIN No.: |
01463245 |
|
Name : |
Mr. Rajeshbhai Akhani |
|
Designation : |
Director |
|
Address : |
8 Saumil Society, Drive In Road, Memnagar, Ahmedabad - 380052, Gujarat, India |
|
Date of Birth/Age : |
22.11.1965 |
|
Date of Appointment : |
01.09.1997 |
|
PAN No.: |
ABJPA0883H |
|
DIN No.: |
02482128 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 24.05.2014
SHAREHOLDING DETAILS FILE ATTACHED
AS ON 24.05.2014
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Directors or relatives of Directors |
82.49 |
|
Other top fifty shareholders |
17.51 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in manufacturing Ceramic Tiles such as Vitrified,
Wall and Floor Tiles. (From Indirect Sources) |
|
|
|
|
Products : |
Tiles |
|
|
|
|
Brand Names : |
Dakshinamurti |
|
|
|
|
Agencies Held : |
Not Available |
|
|
|
|
Exports : |
Not Available |
|
|
|
|
Imports : |
Not Available |
|
|
|
|
Terms : |
Not Available |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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No. of Employees : |
Not Available |
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Bankers : |
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Facilities : |
|
|
Auditors : |
|
|
Name : |
Ramesh
Desai and Associates Chartered
Accountant |
|
Address : |
305, Silver
Cross Building, Behind Petrol Pump Shivranjani Char Rasta, Satellite Road,
Ahmadabad - 380015, Gujarat, India |
|
Tel. No.: |
91-79-26923572 |
|
E-Mail : |
|
|
PAN No.: |
AANPD6526F |
|
|
|
|
Memberships : |
Not Divulged |
|
|
|
|
Collaborators : |
Not Divulged |
|
|
|
|
Associates/Subsidiaries : |
Not Divulged |
CAPITAL STRUCTURE
AFTER AS ON
24.05.2014
Authorised Capital : Rs.60.000 million
Issued, Subscribed & Paid-up Capital : Rs.49.861
million
AS ON 24.05.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
6,000,000 |
Equity Shares |
Rs.10/- each |
Rs.60.000 million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4,626,600 |
Equity Shares |
Rs.10/- each |
Rs.46.266
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 |
46.266 |
46.266 |
46.266 |
|
(b) Reserves & Surplus |
242.899 |
215.279 |
222.747 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
55.000 |
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
344.165 |
261.545 |
269.013 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
522.412 |
647.518 |
549.621 |
|
(b) Deferred tax liabilities (Net) |
34.850 |
34.107 |
37.812 |
|
(c) Other long term
liabilities |
1.273 |
4.147 |
3.802 |
|
(d) long-term
provisions |
8.472 |
6.996 |
5.627 |
|
Total Non-current
Liabilities (3) |
567.007 |
692.768 |
596.862 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
160.482 |
217.490 |
146.527 |
|
(b) Trade
payables |
154.122 |
123.427 |
111.911 |
|
(c) Other
current liabilities |
167.676 |
156.359 |
120.408 |
|
(d) Short-term
provisions |
1.609 |
0.017 |
1.046 |
|
Total Current
Liabilities (4) |
483.889 |
497.293 |
379.892 |
|
|
|
|
|
|
TOTAL |
1395.061 |
1451.606 |
1245.767 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
749.888 |
713.904 |
727.827 |
|
(ii) Intangible
Assets |
0.000 |
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
49.021 |
136.810 |
31.947 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.063 |
0.063 |
0.063 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
29.381 |
33.227 |
26.227 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
828.353 |
884.004 |
786.064 |
|
|
|
|
|
|
(2) Current
assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
212.736 |
226.562 |
185.148 |
|
(c) Trade
receivables |
284.595 |
277.640 |
193.527 |
|
(d) Cash
and cash equivalents |
25.443 |
24.488 |
26.823 |
|
(e) Short-term
loans and advances |
25.694 |
27.556 |
52.490 |
|
(f) Other
current assets |
18.240 |
11.356 |
1.715 |
|
Total
Current Assets |
566.708 |
567.602 |
459.703 |
|
|
|
|
|
|
TOTAL |
1395.061 |
1451.606 |
1245.767 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Income |
|
|
|
|
|
Other Income |
|||
|
|
TOTAL SALES |
1273.044 |
1105.734 |
940.318 |
|
|
|
|
|
|
|
Less |
TOTAL EXPENSES |
1036.544 |
924.914 |
792.982 |
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION |
236.500 |
180.820 |
147.336 |
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
37.479 |
(11.689) |
40.480 |
|
|
|
|
|
|
|
Less |
TAX |
9.860 |
(4.221) |
13.370 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
27.619 |
(7.468) |
27.110 |
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’ BALANCE
BROUGHT FORWARD |
141.875 |
149.343 |
122.233 |
|
|
|
|
|
|
|
|
BALANCE CARRIED TO THE BALANCE
SHEET |
169.494 |
141.875 |
149.343 |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
1.394 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
EARNINGS / (LOSS) PER
SHARE (RS.) |
5.97 |
(1.61) |
5.86 |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current Maturities of Long term debt |
123.721 |
107.217 |
81.462 |
|
Cash generated from operations |
NA |
NA |
NA |
|
Cash generated from (Used) operations |
NA |
NA |
NA |
|
Cash generated from Operating Activities |
NA |
NA |
NA |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
2.17 |
(0.68) |
2.88 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/Sales) |
(%) |
18.58 |
16.35 |
15.67 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.78 |
(0.89) |
3.34 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.11 |
(0.04) |
0.15 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
1.98 |
3.31 |
2.59 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.17 |
1.14 |
1.21 |
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 |
46.266 |
46.266 |
46.266 |
|
Reserves & Surplus |
222.747 |
215.279 |
242.899 |
|
Share Application money pending
allotment |
0.000 |
0.000 |
55.000 |
|
Net
worth |
269.013 |
261.545 |
344.165 |
|
|
|
|
|
|
long-term borrowings |
549.621 |
647.518 |
522.412 |
|
Short term borrowings |
146.527 |
217.490 |
160.482 |
|
Current Maturities of Long term debt |
123.721 |
107.217 |
81.462 |
|
Total
borrowings |
819.869 |
972.225 |
764.356 |
|
Debt/Equity
ratio |
3.048 |
3.717 |
2.221 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
940.318 |
1105.734 |
1273.044 |
|
|
|
17.591 |
15.131 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales
|
940.318 |
1105.734 |
1273.044 |
|
Profit |
27.110 |
(
7.468) |
27.619 |
|
|
2.88% |
(0.68%) |
2.17% |
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 |
No |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
Yes |
|
22 |
Conduct of the banking account |
Yes |
|
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 |
Yes |
|
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 |
OPERATING RESULTS:
During the year,
the Company has achieved total revenue of Rs.1273.044 Million as against Rs.1105.734
Million in the previous year registering an increase of about 15% over the
previous year. With the improvement in volume, the Company has earned an
increased profit before interest depreciation and tax to Rs.236.500 Million
from Rs. 180.820 Million in the previous year up by about 31%. The profit of
the Company before tax has been Rs.37.479 Million compared to loss before tax
of Rs. (11.689 Million) in the previous year. The Company has good amount of
retained earnings of Rs.169.494 Million (previous year Rs. 141.875 Million).
The net cash inflow from operating activities as per the cash flow statement is
quite encouraging at Rs.257.000 Million (previous year Rs.83.325 Million) which
has immensely augmented the resources for capital expenditure and working
capital of the Company.
The overall
results are thus quite encouraging despite adversities faced during the year.
Enthused by the results, the Directors foresee good future ahead. In order to
preserve resources, the Directors do not propose any dividend.
UNSECURED LOAN
|
UNSECURED LOAN |
As
on 31.03.2014 |
As
on 31.03.2013 |
|
Long Term
Borrowing |
|
|
|
Intercorporate deposits |
0.000 |
1.899 |
|
Loans and advances from directors |
33.106 |
50.279 |
|
Loans and advances from others |
121.723 |
117.658 |
|
Total |
154.829 |
169.836 |
INDEX OF CHARGES:
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
10513406 |
09/07/2014 |
1,700,000.00 |
AXIS
BANK LIMITED |
TRISHUL
3RD FLOOR OPP SAMARTHESHWAR TEMPLE, LAW GARDEN ELLISBRIDGE, AHMEDABAD,
GUJARAT - 380006, INDIA |
C15367493 |
|
2 |
10020602 |
17/07/2015
* |
781,700,000.00 |
STATE
BANK OF INDIA |
MID CORPORATE
GROUP INDUSTRIAL FINANCE BRANCH, MARBLE ARCH, RACE COURSE CIRCLE, VADODARA,
GUJARAT - |
C61347449 |
|
3 |
90112992 |
15/07/2015
* |
781,700,000.00 |
STATE
BANK OF INDIA |
MID
CORPORATE GROUP INDUSTRIAL FINANCE BRANCH, MARBLE ARCH, RACE COURSE CIRCLE,
VADODARA, GUJARAT - |
C61348413 |
FIXED ASSETS
- Land and Building
- Furniture’s and Fixtures
- 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. 66.99 |
|
|
1 |
Rs. 101.78 |
|
Euro |
1 |
Rs. 73.47 |
INFORMATION DETAILS
|
Information
Gathered by : |
KMN |
|
|
|
|
Analysis Done by
: |
KRN |
|
|
|
|
Report Prepared
by : |
SYL |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILITY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
4 |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
43 |
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.