MIRA INFORM REPORT
|
Report Date : |
02.01.2015 |
IDENTIFICATION DETAILS
|
Name : |
INDIAN FURNITURE PRODUCTS LIMITED (w.e.f. 11.10.2002) |
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Formerly Known
As : |
ZIL INFOTECH LIMITED |
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Registered
Office : |
G 106, SIDCO Industrial Estate, Kakkalur-602003, Tamil Nadu |
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Country : |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
06.12.2000 |
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Com. Reg. No.: |
18-089255 |
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Capital
Investment / Paid-up Capital : |
Rs. 230.001 Millions |
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|
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CIN No.: [Company Identification
No.] |
U72200TN2000PLC089255 |
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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.] |
AAACZ1715A |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Manufacturer, Seller and Trading of Furniture Products |
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No. of Employees
: |
Not Divulged |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (42) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 700000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Exist |
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Comments : |
Subject is a subsidiary of “ZUARI GLOBAL LIMITED”. It is an
established company having satisfactory track record. The company has incurred huge accumulated losses over a year. However, the rating takes into consideration strong financial and
managerial support that company receives from its parent company. Trade relations are fair. Business is active. Payments are terms are
reported to be slow but correct. In view of strong holding support, the company can be considered for
business dealings at usual trade terms and condition. |
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 |
ICRA |
|
Rating |
Long term loans = BBB (SO) |
|
Rating Explanation |
Moderate degree of safety and moderate credit risk |
|
Date |
December 2013 |
|
Rating Agency Name |
ICRA |
|
Rating |
Short term non-fund based limit = A2 (SO) |
|
Rating Explanation |
Strong degree of safety and low credit risk. |
|
Date |
December 2013 |
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 PARTED BY
|
Name : |
Mr. Prasad |
|
Designation : |
Account Department |
|
Contact No.: |
91-44-27662420 |
|
Date : |
30.12.2014 |
LOCATIONS
|
Registered Office/ Factory : |
G 106, SIDCO Industrial Estate, Kakkalur-602003, Tamil Nadu, India |
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Tel. No.: |
91-44-27662420 |
|
Fax No.: |
91-44-27661780 |
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E-Mail : |
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|
Website: |
DIRECTORS
As on 23.09.2014
|
Name : |
Mr. Narayanan Suresh Krishnan |
|
Designation : |
Director |
|
Address : |
Flat No.105, Four Seasons No.16, Brunton Road, Bangalore – 560025,
Karnataka, India |
|
Date of Birth/Age : |
03.06.1964 |
|
Date of Appointment : |
26.03.2007 |
|
DIN No.: |
00021965 |
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|
|
|
Name : |
Mr. Pervesh kumar Gandhi |
|
Designation : |
Whole Time Director |
|
Address : |
12 FF1 Madya marg dlf phase II Gurgaon-122015, Haryana, India |
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Date of Birth/Age : |
08.08.1954 |
|
Date of Appointment : |
31.07.2014 |
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DIN No.: |
00024221 |
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|
|
|
Name : |
Mr. Ramngachari Raghavan Soundara |
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Designation : |
Director |
|
Address : |
Plot No. 550 Sri Ram Nagar Secret Ariat Colony Puppaluda,
Hyderabad-500075, Andhra Pradesh, India |
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Date of Birth/Age : |
28.10.1948 |
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Date of Appointment : |
18.07.2014 |
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DIN No.: |
00362555 |
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|
|
|
Name : |
Mr. Vishwajit Kumar Sinha |
|
Designation : |
Additional Director |
|
Address : |
B-82, First Floor, Suncity, Sector – 54 Gurgaon – 122003, Haryana, India |
|
Date of Birth/Age : |
01.09.1963 |
|
Date of Appointment : |
19.09.2012 |
|
DIN No.: |
02702645 |
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|
|
|
Name : |
Mr. Kirishan Kumar Gupta |
|
Designation : |
Director |
|
Address : |
10 C Sagarapar Tments 6, Tilak Marg, New Delhi -110001, India |
|
Date of Birth/Age : |
24.02.1939 |
|
Date of Appointment : |
31.07.2014 |
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DIN No.: |
06369107 |
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|
|
|
Name : |
Mr. Suresh Krishan |
|
Designation : |
Director |
|
Address : |
B 1 Zurai Industries Residential Colony, Zuari Nagar, Goa-403726,
India |
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Date of Birth/Age : |
03.06.1964 |
|
Date of Appointment : |
26.03.2007 |
KEY EXECUTIVES
|
Name : |
Mr. Prasad |
|
Designation : |
Account Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 23.09.2014
|
Names of Shareholders |
|
No. of Shares |
|
Zuari Global Limited |
|
50785714 |
|
A T Sudhakaran Jointly With Zuari Global Limited |
|
10 |
|
Anand Roan jointly Zuari Global Limited |
|
10 |
|
O S S Ganapathy Jointly with
Zuari Global Limited |
|
10 |
|
P Sudharam Jointly with Zuari Global Limited |
|
10 |
|
M Ramesh Jointly with Zuari Global Limited |
|
10 |
|
R Krishnamorrthy Jointly with Zuari Global Limited |
|
10 |
|
Vinod Kumar Kothari Jointly with Zuari Global Limited |
|
10 |
|
S Venkatesan Jointly with Zuari Global Limited |
|
10 |
|
Adventz Finance Parivate Limited |
|
1982142 |
|
Zuari Investment Limited |
|
7044643 |
|
Zuari Management Services Limited |
|
2491071 |
|
Adventz Securities Enterprises Limited |
|
428571 |
|
Adventz Investment Company Private Limited |
|
7071429 |
|
Harbachan Singh Bawa |
|
107 |
|
Arun Mahajan |
|
107 |
|
Bhaskar Chatterjee |
|
214 |
|
Saroj Kumar Poddar |
|
294750 |
|
C M Satheesh Kumar |
|
107 |
|
Tripati Prasad Satapathy |
|
107 |
|
A T Sudhakaran |
|
107 |
|
M Ramesh |
|
107 |
|
Anand Ron |
|
107 |
|
R Krishnamoorthy |
|
107 |
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Total |
|
70099470 |
As on 23.09.2014
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Bodies corporate |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer, Seller and Trading of Furniture Products |
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Products : |
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Brand Names : |
Zuari |
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Agencies Held : |
Not Available |
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Exports : |
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Countries : |
Dubai |
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Imports : |
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Products : |
Raw material |
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Countries : |
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Terms : |
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Selling : |
Cash and Cheque |
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Purchasing : |
Cash and Cheque |
GENERAL INFORMATION
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Suppliers : |
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Customers : |
Wholesalers, Retailers
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No. of Employees : |
Not Divulged |
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Bankers : |
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Facilities : |
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Auditors : |
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Name : |
SRBC and Company Chartered Accountants |
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Address : |
2nd Floor, TPL House, No.3, Cenotaph Road, Teynampet,
Chennai - 600 018, Tamilnadu, India |
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PAN.: |
ABSFS4151K |
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Holding Company : |
Zuari Industries Limited (ZIL) L65921GA1967PLC000157 |
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Associate Company : |
Style spa Furniture Limited (SSFL) (ceased to be associate company w.e.f November 17, 2011) CIN No.: U36101TN1998PLC039842 |
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Jointly controlled
entity : |
CIN No.: L24124RJ1985PLC003293
CIN No.: U36109MH1999PTC161129 |
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Fellow Subsidiary Companies
: |
CIN No.: U24129OR1981PLC001020
CIN No.: U74899DL1995PLC071074
CIN No.: U65993GA1995PLC001942
CIN No.: U26941KA2007PLC054428
CIN No.: U74900GA2006PLC004921
|
CAPITAL STRUCTURE
As on 23.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
72600000 |
Equity Shares |
Rs.10/- each |
Rs.726.000 Millions |
|
1130220 |
Preference Shares |
Rs.100/- each |
Rs.113.022 millions |
|
|
Total |
|
Rs.839.022
millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
70099470 |
Equity Shares |
Rs.10/- each |
Rs.700.995
Millions |
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|
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|
|
As on 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
49600000 |
Equity Shares |
Rs.10/- each |
Rs.496.000 Millions |
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|
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
46500080 |
Equity Shares |
Rs.10/- each |
Rs.465.001
Millions |
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FINANCIAL DATA
[all figures are
in Rupees Millions]
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 |
465.001 |
330.001 |
230.001 |
|
(b) Reserves & Surplus |
(230.492) |
(156.200) |
(28.816) |
|
(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) |
234.509 |
173.801 |
201.185 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
48.094 |
42.594 |
51.648 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
7.771 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
1.471 |
1.071 |
0.000 |
|
Total Non-current
Liabilities (3) |
49.565 |
43.665 |
59.419 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term
borrowings |
413.796 |
406.441 |
387.254 |
|
(b) Trade payables |
228.585 |
221.434 |
194.060 |
|
(c) Other current
liabilities |
82.164 |
86.023 |
74.198 |
|
(d) Short-term provisions |
17.882 |
20.347 |
13.691 |
|
Total Current Liabilities
(4) |
742.427 |
734.245 |
669.203 |
|
|
|
|
|
|
TOTAL |
1026.501 |
951.711 |
929.807 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
201.131 |
222.815 |
196.257 |
|
(ii) Intangible Assets |
1.857 |
3.411 |
3.994 |
|
(iii) Capital
work-in-progress |
0.000 |
0.000 |
0.000 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
20.172 |
22.497 |
16.587 |
|
(e) Other Non-current
assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
223.160 |
248.723 |
216.838 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
389.398 |
375.966 |
425.245 |
|
(c) Trade receivables |
267.999 |
170.646 |
108.177 |
|
(d) Cash and cash
equivalents |
13.781 |
20.591 |
31.224 |
|
(e) Short-term loans
and advances |
132.163 |
135.785 |
148.323 |
|
(f) Other current
assets |
0.000 |
0.000 |
0.000 |
|
Total Current Assets |
803.341 |
702.988 |
712.969 |
|
|
|
|
|
|
TOTAL |
1026.501 |
951.711 |
929.807 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
1145.069 |
1370.637 |
1422.632 |
|
|
|
Other Income |
0.734 |
4.263 |
3.216 |
|
|
|
TOTAL (A) |
1145.803 |
1374.900 |
1425.848 |
|
|
|
|
|
|
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|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
387.315 |
411.496 |
463.154 |
|
|
|
Purchases of stock-in-trade |
391.228 |
525.624 |
542.319 |
|
|
|
Changes in inventories of finished goods, work-in-progress and stock-in-trade |
(20.082) |
31.413 |
(48.239) |
|
|
|
Employee benefit expense |
138.559 |
153.743 |
128.165 |
|
|
|
Other expenses |
227.708 |
291.114 |
299.053 |
|
|
|
TOTAL (B) |
1124.728 |
1413.390 |
1384.452 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
21.075 |
(38.490) |
41.396 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
72.673 |
73.816 |
43.700 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
(51.598) |
(112.306) |
-2.304 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
23.106 |
22.850 |
20.911 |
|
|
|
|
|
|
|
|
|
Add |
EXCEPTIONAL
ITEMS |
0.000 |
0.000 |
9.167 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
(74.704) |
(135.156) |
(14.048) |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
(0.413) |
(7.771) |
6.613 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
(74.291) |
(127.385) |
(20.661) |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
(2.24) |
(5.25) |
(0.90) |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
Net Profit Margin (PAT/Sales) |
(%) |
(6.49) |
(9.29) |
(1.45) |
|
|
|
|
|
|
|
Operating Profit Margin (PBITD/Sales) |
(%) |
1.84 |
(2.81) |
2.91 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(7.28) |
(14.20) |
(1.51) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.32) |
(0.78) |
-0.07 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
1.97 |
2.58 |
2.18 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.08 |
0.96 |
1.07 |
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 |
230.001 |
330.001 |
465.001 |
|
Reserves & Surplus |
(28.816) |
(156.200) |
(230.492) |
|
Net
worth |
201.185 |
173.801 |
234.509 |
|
|
|
|
|
|
long-term borrowings |
51.648 |
42.594 |
48.094 |
|
Short term borrowings |
387.254 |
406.441 |
413.796 |
|
Total
borrowings |
438.902 |
449.035 |
461.890 |
|
Debt/Equity
ratio |
2.182 |
2.584 |
1.970 |
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 |
1422.632 |
1370.637 |
1145.069 |
|
|
|
(3.655) |
(16.457) |
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 |
1422.632 |
1370.637 |
1145.069 |
|
Profit |
(20.661) |
(127.385) |
(74.291) |
|
|
(1.45%) |
(9.29%) |
(6.49%) |
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 |
Yes |
|
10] |
Designation of contact person |
Yes |
|
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 |
Yes |
|
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 LOAN
Rs. In Millions
|
UNSECURED LOAN |
As
on 31.03.2014 |
As
on 31.03.2013 |
|
Long Term
Borrowing |
|
|
|
Deferred tax loan |
16.219 |
30.284 |
|
Short Term
Borrowing |
|
|
|
Intercorporate deposits |
30.000 |
130.000 |
|
Total |
46.219 |
160.284 |
LITIGATION DETAILS:
|
Case Status |
Pending |
|
Status of : |
CIVIL MISE. APPEAL |
|
Case
no.: |
2562 |
|
Year
: |
2010 |
|
Petitioner
|
The commissioner of central |
|
Respondent
: |
M/s. Indian furniture products |
|
Pet’s Adv:- |
m/s. Mallika Srinivasan |
|
Resp. Adv.: |
M/s. C. Saravanan |
|
Category:- |
Excise / Prohibition/customs |
|
Case
updated on : |
Feb 16, 2012 |
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.77.00 |
INFORMATION DETAILS
|
Information
Gathered by : |
GAY |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
JYTK |
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 |
|
--PROFITABILIRY |
1~10 |
-- |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
5 |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
42 |
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.