MIRA INFORM REPORT
|
Report No. : |
310161 |
|
Report Date : |
28.02.2015 |
IDENTIFICATION DETAILS
|
Name : |
INTERJEWEL PRIVATE LIMITED (w.e.f. 16.01.2008) |
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Formerly Known
As : |
D. NAVINVHANDRA EXPORT PRIVATE LIMITED |
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Registered Office
: |
Office No. HW 8012, Bharat Diamond Bourse, G – Block, Bandra Kurla
Complex, Bandra (East), Mumbai – 400051, Maharashtra |
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Country : |
India |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
20.04.2007 |
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Com. Reg. No.: |
11-170147 |
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Capital
Investment / Paid-up Capital : |
Rs. 39.224 Million |
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CIN No.: [Company Identification
No.] |
U74900MH2007PTC170147 |
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IEC No.: |
Not Available |
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TAN No.: [Tax Deduction & Collection
Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
Not Available |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Subject is engaged in the business of importing and processing of rough
diamonds and exporting cut and polished diamonds of various size and shapes. |
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No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (48) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having a satisfactory track record. Financial position of the company seems to be decent. Trade relations are fair. Business is active. 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.
ECGC Country Risk Classification List – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
Long Term Bank Facilities = BBB |
|
Rating Explanation |
Moderate degree of safety and carry moderate credit risk |
|
Date |
April 15, 2014 |
|
Rating Agency Name |
CARE |
|
Rating |
Short Term Bank Facilities = A3 |
|
Rating Explanation |
Have moderate degree of safety and carry higher credit risk |
|
Date |
April 15, 2014 |
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
31-03-2014.
LOCATIONS
|
Registered Office : |
Office No. HW 8012, Bharat Diamond Bourse, G – Block, Bandra Kurla
Complex, Bandra (East), Mumbai – 400051, Maharashtra, India |
|
Tel. No.: |
91-22-40373176 |
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Fax No.: |
Not Available |
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E-Mail : |
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Factory : |
Located At
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DIRECTORS
AS ON 30.09.2014
|
Name : |
Mr. Rupen Kantilal Kothari |
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Designation : |
Whole-time Director |
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Address : |
31 / Kedia apt,29/F Doongarshi Road, walkeshwar, Mumbai – 400008,
Maharashtra, India |
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Date of Birth/Age : |
15.01.1947 |
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Date of Appointment : |
01.05.2007 |
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DIN No. : |
00306871 |
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Other Directorship :
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Name : |
Mr. Hemal Shrenik Choksi |
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Designation : |
Whole-time Director |
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Address : |
4 – 1/ Silver Arch 87, B Nepeansea Road, Petit Hall, Mumbai – 400006,
Maharashtra, India |
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Date of Birth/Age : |
22.02.1978 |
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Date of Appointment : |
01.05.2007 |
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DIN No. : |
00324270 |
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Other Directorship :
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Name : |
Mr. Shrenik Chokshi Chunilal |
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Designation : |
Whole-time Director |
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Address : |
4 – 1/ Silver Arch 87, B Nepeansea Road, Petit Hall, Mumbai – 400006,
Maharashtra, India |
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Date of Birth/Age : |
05.08.1947 |
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Date of Appointment : |
01.05.2007 |
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DIN No. : |
01555281 |
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Other Directorship :
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MAJOR SHAREHOLDERS
As on 30.09.2014
|
Names of Shareholders (Equity Shares) |
|
No. of Shares |
|
Rupen K. Kothari |
|
2090000 |
|
Shrenik C. Chunilal |
|
807500 |
|
Hemal S. Choksi |
|
807500 |
|
Dian Star Diamonds, India |
|
17400 |
|
Total |
|
3722400 |
|
Names of Shareholders (Preference Shares) |
|
No. of Shares |
|
Hemal Choksi |
|
50000 |
|
Shrenik Chunilal |
|
50000 |
|
Rupen Kothari |
|
100000 |
|
Total |
|
200000 |
As on 30.09.2014
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
Bodies corporate |
0.47 |
|
Directors or relatives of Directors |
99.53 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in the business of importing and processing of
rough diamonds and exporting cut and polished diamonds of various size and
shapes. |
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Products : |
Not Available |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
Not Available |
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Imports : |
Not Available |
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Terms : |
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Selling : |
Not Available |
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Purchasing : |
Not Available |
PRODUCTION STATUS: Not Available
GENERAL INFORMATION
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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 : |
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Auditors : |
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Name : |
Bhavesh P. Sanghavi Chartered Accountants |
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Address : |
F-1 Rasdhara Society, 385,S.V.P. Road, Mumbai – 400004, Maharashtra, India |
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PAN. No.: |
AAFPS2334G |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Enterprises which
are owned, or have significant influence of or are partners with Key management
personnel and their relatives |
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CAPITAL STRUCTURE
As on 30.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
14500000 |
Equity Shares |
Rs.10/- each |
Rs.145.000 Millions |
|
530000 |
Preference Shares |
Rs.10/- each |
Rs. 5.300 Millions |
|
|
Total |
|
Rs. 150.300
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3722400 |
Equity Shares |
Rs.10/- each |
Rs. 37.224 Millions |
|
200000 |
Preference Shares |
Rs.10/- each |
Rs. 2.000 Millions |
|
|
Total |
|
Rs. 39.224
Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
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|
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I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
39.224 |
39.224 |
39.523 |
|
(b) Reserves &
Surplus |
1383.655 |
1288.016 |
1231.184 |
|
(c) Money received
against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application
money pending allotment |
0.000 |
0.000 |
0.000 |
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Total Shareholders’ Funds
(1) + (2) |
1422.879 |
1327.240 |
1270.707 |
|
|
|
|
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(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
285.627 |
316.097 |
291.846 |
|
(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 |
0.000 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
285.627 |
316.097 |
291.846 |
|
|
|
|
|
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(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
1886.010 |
1731.167 |
1383.841 |
|
(b) Trade payables |
1503.666 |
1000.342 |
1129.437 |
|
(c) Other current
liabilities |
10.039 |
169.937 |
125.859 |
|
(d) Short-term provisions |
15.186 |
7.189 |
10.558 |
|
Total Current Liabilities
(4) |
3414.901 |
2908.635 |
2649.695 |
|
|
|
|
|
|
TOTAL |
5123.407 |
4551.972 |
4212.248 |
|
|
|
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|
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II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
451.625 |
680.241 |
806.767 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
0.000 |
13.065 |
9.315 |
|
(iv) Intangible assets
under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
78.192 |
78.192 |
71.049 |
|
(c) Deferred tax assets
(net) |
3.273 |
2.438 |
2.696 |
|
(d) Long-term Loan and Advances |
71.445 |
69.257 |
68.998 |
|
(e) Other Non-current
assets |
0.593 |
0.593 |
0.612 |
|
Total Non-Current Assets |
605.128 |
843.786 |
959.437 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
1.258 |
|
(b) Inventories |
2362.083 |
1845.137 |
1733.956 |
|
(c) Trade receivables |
2064.186 |
1754.289 |
1482.581 |
|
(d) Cash and cash
equivalents |
70.473 |
37.486 |
20.705 |
|
(e) Short-term loans and
advances |
16.128 |
14.702 |
13.975 |
|
(f) Other current assets |
5.409 |
56.572 |
0.336 |
|
Total Current Assets |
4518.279 |
3708.186 |
3252.811 |
|
|
|
|
|
|
TOTAL |
5123.407 |
4551.972 |
4212.248 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
|
|
|
|
|
TOTAL INCOME |
7115.248 |
5435.590 |
5270.581 |
|
|
|
|
|
|
|
Less |
TOTAL EXPENSES |
6697.159 |
5074.089 |
4867.270 |
|
|
|
|
|
|
|
Less |
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION |
418.089 |
361.501 |
403.311 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
173.382 |
175.109 |
126.782 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION |
244.707 |
186.392 |
276.529 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
39.019 |
35.754 |
30.659 |
|
|
|
|
|
|
|
|
PROFIT
BEFORE EXCEPTIONAL, EXTRA ORDINARY ITEMS AND TAX |
205.688 |
150.638 |
245.870 |
|
|
|
|
|
|
|
Less |
EXCEPTIONAL
ITEMS |
0.088 |
(9.503) |
8.568 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
205.600 |
160.142 |
237.302 |
|
|
|
|
|
|
|
Less |
TAX |
70.649 |
49.634 |
78.845 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
134.951 |
110.508 |
158.457 |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
5276.483 |
4305.207 |
3722.615 |
|
|
Deemed Export |
485.437 |
436.785 |
453.571 |
|
|
Diamond Dollar Sales |
858.071 |
396.618 |
695.174 |
|
|
TOTAL EARNINGS |
6619.991 |
5138.610 |
4871.360 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
3597.736 |
2631.864 |
2426.500 |
|
|
Finished Goods |
129.180 |
48.474 |
2426.500 |
|
|
Capital Goods |
9.141 |
0.449 |
217.371 |
|
|
TOTAL IMPORTS |
3736.057 |
2680.787 |
5070.371 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (Rs.) |
34.41 |
28.17 |
40.40 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
4.08 |
3.59 |
5.75 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.14 |
0.12 |
0.19 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
1.53 |
1.54 |
1.32 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.32 |
1.27 |
1.23 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Millions) |
(Rs. In Millions) |
(Rs. In Millions) |
|
Share Capital |
39.523 |
39.224 |
39.224 |
|
Reserves & Surplus |
1231.184 |
1288.016 |
1383.655 |
|
Net worth |
1270.707 |
1327.240 |
1422.879 |
|
|
|
|
|
|
long-term borrowings |
291.846 |
316.097 |
285.627 |
|
Short term borrowings |
1383.841 |
1731.167 |
1886.010 |
|
Total borrowings |
1675.687 |
2047.264 |
2171.637 |
|
Debt/Equity ratio |
1.319 |
1.542 |
1.526 |
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 |
5270.581 |
5435.590 |
7115.248 |
|
|
|
3.131 |
30.901 |
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 |
5270.581 |
5435.590 |
7115.248 |
|
Profit |
158.457 |
110.508 |
134.951 |
|
|
3.01% |
2.03% |
1.90% |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check
List by Info Agents |
Available in Report (Yes / No) |
|
1] |
Year
of Establishment |
Yes |
|
2] |
Locality
of the firm |
Yes |
|
3] |
Constitutions
of the firm |
Yes |
|
4] |
Premises
details |
No |
|
5] |
Type
of Business |
Yes |
|
6] |
Line
of Business |
Yes |
|
7] |
Promoter's
background |
Yes |
|
8] |
No.
of employees |
No |
|
9] |
Name
of person contacted |
No |
|
10] |
Designation
of contact person |
No |
|
11] |
Turnover
of firm for last three years |
Yes |
|
12] |
Profitability
for last three years |
Yes |
|
13] |
Reasons
for variation <> 20% |
--------------------- |
|
14] |
Estimation
for coming financial year |
No |
|
15] |
Capital
in the business |
Yes |
|
16] |
Details
of sister concerns |
Yes |
|
17] |
Major
suppliers |
No |
|
18] |
Major
customers |
No |
|
19] |
Payments
terms |
No |
|
20] |
Export
/ Import details (if applicable) |
No |
|
21] |
Market
information |
---------------------- |
|
22] |
Litigations
that the firm / promoter involved in |
---------------------- |
|
23] |
Banking
Details |
Yes |
|
24] |
Banking
facility details |
Yes |
|
25] |
Conduct
of the banking account |
---------------------- |
|
26] |
Buyer
visit details |
---------------------- |
|
27] |
Financials,
if provided |
Yes |
|
28] |
Incorporation
details, if applicable |
Yes |
|
29] |
Last
accounts filed at ROC |
Yes |
|
30] |
Major
Shareholders, if available |
Yes |
|
31] |
Date of
Birth of Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN
of Proprietor/Partner/Director, if available |
No |
|
33] |
Voter
ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External
Agency Rating, if available |
Yes |
UNSECURED LOANS
|
PARTICULAR |
31.03.2014 (Rs.
in Millions) |
31.03.2013 (Rs.
in Millions) |
|
LONG TERM
BORROWINGS |
|
|
|
Loans and advances from others |
285.627 |
316.096 |
|
|
|
|
|
SHORT TERM
BORROWINGS |
|
|
|
Loans and advances from related parties |
34.850 |
0.000 |
|
Total |
320.477 |
316.096 |
INDEX OF CHARGES
|
S. No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10548029 |
09/12/2014 |
28,321,041.10 |
THE ROYAL BANK OF SCOTLAND N. V. |
4, NORTH AVENUE, LEVEL 3, MAKER MAXITY, BANDRA KURLA COMPLEX, BANDRA EAST, MUMBAI, MAHARASHTRA - 400051, INDIA |
C43003417 |
|
2 |
10512247 |
23/05/2014 |
200,000,000.00 |
THE ROYAL BANK OF SCOTLAND N. V. |
LEVEL 3, 4 NORTH
AVENUE, MAKER MAXITY, BANDRA KURLA COMPLEX, BANDRA (EAST), MUMBAI,
MAHARASHTRA - |
C14626758 |
|
3 |
10157591 |
21/01/2015 * |
2,750,000,000.00 |
THE ROYAL BANK OF SCOTLAND N. V. |
4, NORTH AVENUE, LEVEL 3, MAKER MAXITY, BANDRA KURLA COMPLEX, BANDRA EAST, MUMBAI, MAHARASHTRA - 400051, INDIA |
C42704486 |
* Date of charge modification
FIXED ASSETS
- Land
- Buildings
- Residential building
- Office building
- Factory building
- Plant and equipment
- Furniture and fixtures
- Vehicles
- Office equipment
- Computer equipments
- Other equipments
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.
-
The diamond jewellery industry in India today may
be more than Rs 60000 mil and is rated amongst the fastest growing in the
world. Indi ranks third in the world in domestic diamond consumption.
-
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 –
DIAMOND SAGA – DIRTY DOZEN STUCK WITH 2K CR DEBT
This could be the biggest credibility crisis
the Indian diamond industry has ever faced. Fifteen banks run the risk of
losing Rs 2000 crore lent to a dozen diamond firms in Surat. Until about two
months ago, they had not repaid these dues. Bankers believe many
diamantaires borrowed money during the economic downturn two years ago and
diverted funds to businesses like real estate and capital markets. Many of
themselves made money from these businesses but their diamond companies have
gone sick and declared insolvency.
-
Most of the money borrowed from the banks in the
name of their diamond business has been diverted in real estate and the share
market. The banks are not in a position to seize their properties because in
many cases, these were purchased in the name of their relatives and friends.
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. 61.79 |
|
|
1 |
Rs. 95.42 |
|
Euro |
1 |
Rs. 69.29 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
TRU |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILITY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
|
48 |
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.