|
Report Date : |
01.01.2015 |
IDENTIFICATION DETAILS
|
Name : |
AHILL APPAREL EXPORTS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
24 Anna Nagar, K P N Colony, Tiruppur – 641601, Tamilnadu |
|
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|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
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|
Date of
Incorporation : |
01.04.2010 |
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|
|
|
Com. Reg. No.: |
18-015962 |
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|
|
Capital
Investment / Paid-up Capital : |
Rs. 10.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U18101TZ2010PTC015962 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
CMBA06687C |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAICA3759P |
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|
|
|
Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Processors, Importer and Exporter of all types of apparels, Men’s
woman’s and children’s clothing of every king nature description including
ready –made garments, knit weras and fabrics. |
|
|
|
|
No. of Employees
: |
Not Divulged |
RATING & COMMENTS
|
MIRA’s Rating : |
B (26) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Unknown |
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|
|
|
Litigation : |
Clear |
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|
Comments : |
Subject is an established company having moderate track record. Management of the company has not filed its financial after the year
2012 with the government department and also denied to part any information about
the company. As per the available financial of 2012, general financial position of
the company seems to be fair. As per registrar of companies the status of the company is shown as
active. Payment terms are unknown. The company can be considered for business dealings with great
caution. |
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 – September 30, 2014
|
Country Name |
Previous Rating (30.06.2014) |
Current Rating (30.09.2014) |
|
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 |
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
31-03-2014.
INFORMATION DENIED
MANAGEMENT NON-CO-OPERATIVE (91-421-2203453)
LOCATIONS
|
Registered Office : |
24 Anna Nagar, K.P. N Colony, Tiruppur – 641601, Tamilnadu, India |
|
Tel. No.: |
91-421-2203453/3553/3653 |
|
Fax No.: |
91-421-4323753 |
|
E-Mail : |
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|
Website : |
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|
Factory : |
No. 82 and 109, Thalavaipalayam, Vijayamangalam Road, Uthukkuli –
638751, Tamilnadu, India |
DIRECTORS
As on: 28.09.2012
|
Name : |
Mr. Subbanagounder Duraiswamy Arun |
|
Designation : |
Managing director |
|
Address : |
New No. 2, old No. 69, KPN, Colony, Anna Nagar, Tirupur – 641601,
Coimbatore, Tamilnadu, India |
|
Date of Birth/Age : |
01.05.1975 |
|
Date of Appointment : |
01.04.2010 |
|
DIN No.: |
02719606 |
|
|
|
|
Name : |
Mr. Duraisamy Elango |
|
Designation : |
Managing director |
|
Address : |
69, Anna Nagar, KPN Colony, Tirupur, Coimbatore – 641601, Tamilnadu,
India |
|
Date of Birth/Age : |
23.05.1973 |
|
Date of Appointment : |
01.04.2010 |
|
DIN No.: |
02719616 |
|
|
|
|
Name : |
Mr. Easwaramoorthy Sivaparthiban |
|
Designation : |
Director |
|
Address : |
No. 1/42, Vaanakkar, Thottam, Tirupur, Coimbatore – 641601, Tamilnadu,
India |
|
Date of Birth/Age : |
22.11.1979 |
|
Date of Appointment : |
01.04.2010 |
|
DIN No.: |
02719593 |
KEY EXECUTIVE
|
Name : |
C. N. Paramasivam |
|
Designation : |
Company Secretary |
|
Address : |
Surya, 35, Mayflower Avenue, Behind Senthil Nagar, Sowripalayam Road, Coimbatore
– 641028, Tamilnadu, India |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 28.09.2012
|
Names of Shareholders |
No. of Shares |
Percentage |
|
Duraisamy Elango |
330000 |
33.00 |
|
Subbanagounder Duraiswamy Arun |
200000 |
20.00 |
|
Easwaramoorthy Sivaparthiban |
150000 |
15.00 |
|
G. Gandhimathi |
150000 |
15.00 |
|
S. Arjunan |
150000 |
15.00 |
|
E Deepa |
10000 |
1.00 |
|
A Preethi |
10000 |
1.00 |
|
|
|
|
|
Total |
1000000 |
100.00 |
Equity Share Break up (Percentage of Total Equity)
As on: 28.09.2012
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |

BUSINESS DETAILS
|
Line of Business : |
Processors, Importer and Exporter of all types of apparels, Men’s
woman’s and children’s clothing of every king nature description including ready
–made garments, knit weras and fabrics. |
|
|
|
|
Products : |
|
|
|
|
|
Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
Not Applicable |
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Imports : |
Not Applicable |
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Terms : |
Not Divulged |
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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No. of Employees : |
Not Divulged |
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Bankers : |
Indian Overseas Bank, Main Branch, 122, Kumaran Road, Tirupur –
641601, Tamilnadu, India |
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Facilities : |
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Auditors : |
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|
Name : |
MSS and Company Chartered Accountants |
|
Address : |
Devji Nagar, 9, M.S. Puram, Tiruppur – 641601, Tamilnadu, India |
|
PAN N Income-tax PAN of auditor or auditor's firm : |
AAHFM6223C |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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|
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|
Associates/Subsidiaries : |
Not Available |
CAPITAL STRUCTURE
As on 30.09.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1000000 |
Equity Shares |
Rs.10/- each |
Rs.10.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1000000 |
Equity Shares |
Rs.10/- each |
Rs.10.000 Millions |
|
|
|
|
|
FINANCIAL DATA
[All figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES
OF FUNDS |
|
31.03.2012 |
31.03.2011 |
|
I.
EQUITY AND LIABILITIES |
|
||
|
(1)Shareholders' Funds |
|
||
|
(a) Share Capital |
|
10.000 |
10.000 |
|
(b) Reserves & Surplus |
|
43.474 |
11.947 |
|
(c) Money received against
share warrants |
|
0.000 |
0.000 |
|
|
|
||
|
(2) Share Application money
pending allotment |
|
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
|
53.474 |
21.947 |
|
|
|
||
|
(3) Non-Current Liabilities |
|
||
|
(a) long-term borrowings |
|
82.017 |
88.571 |
|
(b) Deferred tax liabilities
(Net) |
|
2.122 |
2.896 |
|
(c) Other long term
liabilities |
|
0.000 |
0.000 |
|
(d) long-term provisions |
|
0.000 |
0.000 |
|
Total
Non-current Liabilities (3) |
|
84.139 |
91.467 |
|
|
|
||
|
(4) Current Liabilities |
|
||
|
(a) Short term borrowings |
|
0.000 |
56.000 |
|
(b) Trade payables |
|
75.332 |
49.931 |
|
(c) Other current liabilities |
|
6.612 |
26.743 |
|
(d) Short-term provisions |
|
17.200 |
9.300 |
|
Total
Current Liabilities (4) |
|
99.144 |
141.974 |
|
|
|
||
|
TOTAL |
|
236.757 |
255.388 |
|
|
|
||
|
II.
ASSETS |
|
||
|
(1) Non-current assets |
|
||
|
(a) Fixed Assets |
|
||
|
(i) Tangible assets |
|
76.170 |
85.914 |
|
(ii) Intangible Assets |
|
0.000 |
0.000 |
|
(iii) Capital work-in-progress |
|
0.000 |
0.000 |
|
(iv) Intangible assets under
development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
0.486 |
0.457 |
|
(e) Other Non-current assets |
|
0.000 |
0.000 |
|
Total
Non-Current Assets |
|
76.656 |
86.371 |
|
|
|
||
|
(2) Current assets |
|
||
|
(a) Current investments |
|
0.000 |
0.000 |
|
(b) Inventories |
|
40.165 |
76.061 |
|
(c) Trade receivables |
|
27.233 |
23.984 |
|
(d) Cash and cash equivalents |
|
1.837 |
2.028 |
|
(e) Short-term loans and
advances |
|
67.265 |
55.819 |
|
(f) Other current assets |
|
23.601 |
11.125 |
|
Total
Current Assets |
|
160.101 |
169.017 |
|
|
|
||
|
TOTAL |
|
236.757 |
255.388 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
Income |
|
501.605 |
332.204 |
|
|
|
Other Income |
|
48.332 |
28.767 |
|
|
|
TOTAL |
|
549.937 |
360.971 |
|
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
TOTAL |
|
486.145 |
321.707 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION |
|
63.792 |
39.264 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
|
13.498 |
15.068 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
|
50.294 |
24.196 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
Preliminary Expenses |
|
0.040 |
0.040 |
|
|
|
Donations |
|
0.211 |
0.013 |
|
|
|
Income Tax payment |
|
2.090 |
0.000 |
|
|
|
Differed Tax Liability |
|
(0.774) |
2.896 |
|
|
|
Provision Tax |
|
17.200 |
9.300 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX/NET PROFIT |
|
31.527 |
11.947 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’ BALANCE
BROUGHT FORWARD |
|
11.947 |
0.000 |
|
|
|
|
|
|
|
|
|
|
Balance Carried to the
B/S |
|
43.474 |
11.947 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
|
F.O.B. Value of Exports |
|
455.018 |
312.740 |
|
|
|
Freight |
|
9.608 |
6.737 |
|
|
|
Insurance |
|
28.069 |
1.634 |
|
|
|
TOTAL EARNINGS |
|
492.695 |
321.111 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
Raw Materials |
|
9.252 |
16.337 |
|
|
|
Components and Stores
parts |
|
0.000 |
2.028 |
|
|
|
TOTAL IMPORTS |
|
9.252 |
18.365 |
|
|
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (Rs.) |
|
31.53 |
11.95 |
|
KEY RATIOS
|
PARTICULARS |
|
|
31.03.2012 |
31.03.2011 |
|
Net Profit Margin (PAT / Sales) |
(%) |
|
6.29 |
3.60 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
|
21.24 |
9.47 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
|
0.94 |
1.10 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
|
1.53 |
6.59 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
|
1.61 |
1.19 |
FINANCIAL ANALYSIS
[All figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2011 |
31.03.2012 |
|
|
(Rs. In Millions) |
(Rs. In Millions) |
|
Share Capital |
10.000 |
10.000 |
|
Reserves & Surplus |
11.947 |
43.474 |
|
Net worth |
21.947 |
53.474 |
|
|
|
|
|
long-term borrowings |
88.571 |
82.017 |
|
Short term borrowings |
56.000 |
0.000 |
|
Total borrowings |
144.571 |
82.017 |
|
Debt/Equity ratio |
6.587 |
1.534 |

YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2011 |
31.03.2012 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
332.204 |
501.605 |
|
|
|
50.993 |

NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2011 |
31.03.2012 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
332.204 |
501.605 |
|
Profit |
11.947 |
31.527 |
|
|
3.60% |
6.29% |

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
two years |
Yes |
|
12] |
Profitability for last
two 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 |
No |
|
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 |
No |
|
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 |
No |
PERFORMANCE:
A good performance during the year because of the excellent demand from the overseas buyers. The turnover for the year zoomed to Rs. 501.605 Millions with an operating profit of Rs. 63.792 and Net Profit 31.527 Million during the year
UNSECURED LOAN
|
Particular |
31.03.2012 (Rs.
in Millions) |
31.03.2011 (Rs.
in Millions) |
|
Long-term
Borrowings |
|
|
|
Loan and advance from related parties |
70.023 |
70.793 |
|
|
|
|
|
Total |
70.023 |
70.793 |
INDEX OF CHARGES:
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
10236091 |
16/10/2012 * |
158,890,000.00 |
INDIAN OVERSEAS BANK |
MAIN BRANCH, KUMARAN ROAD, TIRUPUR, TAMIL
NADU - 641601, INDIA |
B63547806 |
|
2 |
10235895 |
16/10/2012 * |
303,390,000.00 |
INDIAN OVERSEAS BANK |
MAIN BRANCH, KUMRAN ROAD, TIRUPUR, TAMIL
NADU - 641601, INDIA |
B63548549 |
* Date of charge modification
FIXED ASSETS:
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.63.33 |
|
|
1 |
Rs.98.58 |
|
Euro |
1 |
Rs.77.04 |
INFORMATION DETAILS
|
Information
Gathered by : |
NYA |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
MTN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILITY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
2 |
|
--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 |
|
26 |
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.