MIRA INFORM REPORT
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Report No. : |
302212 |
|
Report Date : |
09.01.2015 |
IDENTIFICATION DETAILS
|
Name : |
AANANDA LAKSHMI SPINNING MILLS LIMITED |
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Registered
Office : |
Surya Towers, 6th Floor, 105, Sardar Patel Road, Secunderabad
– 500003, Telangana |
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Country : |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
21.03.2013 |
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Com. Reg. No.: |
36-086564 |
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Capital
Investment / Paid-up Capital : |
Rs.34.993 Millions |
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CIN No.: [Company Identification
No.] |
L17121TG2013PLC086564 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
AAMCA2381F |
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Legal Form : |
A Closely Held Public Limited Liability Company [Company shares are
not Listed in NSE and BSE] |
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Line of Business
: |
Manufacturer of Yarn. |
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No. of Employees
: |
Not Divulged |
RATING & COMMENTS
|
MIRA’s Rating : |
B (27) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is a relatively new company having moderate track record. As claimed by Mr. S. Rao, VP in finance that subject company got
demerger with SURYAVANSHI SPINNING MILLS LIMITED and SHESHADRI INDUSTRIES
LIMITED as on 1st April 2013 and now subject company undertaking
business operations separately. As per the latest financial record of 2014, the rating is constrained
on account of company’s leverage capital structure and low profitability
margins of the company. However, trade relations are improving. Business is active. Payment
terms are slow but correct. The company can be considered for business dealings with some 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 |
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Restricted |
C2 |
|
Off-credit |
D |
EXTERNAL AGENCY RATING
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 BY
|
Name : |
Mr. S. Rao |
|
Designation : |
VP in finance |
|
Contact No.: |
91-40-30512700 |
|
Date : |
07.01.2015 |
LOCATIONS
|
Registered Office : |
Surya Towers, 6th Floor, 105, Sardar Patel Road, Secunderabad
– 500003, Telangana, India |
|
Tel. No.: |
91-40-30512700 |
|
Fax No.: |
91-40-30512799 / 30512725 |
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E-Mail : |
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Website : |
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Unit 1 : |
Hyderabad Road, Nalgonda District, Bhongir – 508116, Telangana, India |
DIRECTORS
AS ON 30.09.2014
|
Name : |
Mr. Devender Kumar Agarwal |
|
Designation : |
Managing Director |
|
Address : |
3-6-108/B, S.J. Lane, Himayath Nagar, Hyderabad - 500029, Andhra Pradesh, India |
|
Date of Birth/Age : |
26.11.1967 |
|
Date of Appointment : |
21.03.2013 |
|
DIN No.: |
00042156 |
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|
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Name : |
Mr. Badrinarayan Agarwal |
|
Designation : |
Director |
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Address : |
3-6-108/B, S.J. Lane, Himayath Nagar, Hyderabad - 500029, Andhra Pradesh, India |
|
Date of Birth/Age : |
18.10.1935 |
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Date of Appointment : |
18.08.2014 |
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DIN No.: |
00042123 |
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Name : |
Mr. Rajender Kumar Agarwal |
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Designation : |
Director |
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Address : |
3-6-108/B, S.J. Lane, Himayath Nagar, Hyderabad - 500029, Andhra Pradesh, India |
|
Date of Birth/Age : |
28.07.1962 |
|
Date of Appointment : |
21.03.2013 |
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DIN No.: |
00041892 |
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|
|
Name : |
Mr. Jeetender Kumar Agarwal |
|
Designation : |
Director |
|
Address : |
3-6-108/B, S.J. Lane, Himayath Nagar, Hyderabad - 500029, Andhra Pradesh, India |
|
Date of Birth/Age : |
22.07.1964 |
|
Date of Appointment : |
21.03.2013 |
|
DIN No.: |
00041946 |
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Name : |
Mr. Agarwal Surender Kumar |
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Designation : |
Director |
|
Address : |
5-4-92/1, M.G. Road, Secunderabad - 500003, Andhra Pradesh, India |
|
Date of Birth/Age : |
30.04.1961 |
|
Date of Appointment : |
06.01.2014 |
|
DIN No.: |
00281576 |
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|
|
Name : |
Mr. Manish Gupta |
|
Designation : |
Director |
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Address : |
8-2-589/6, Road No. 8, Sriram Park, Banjara Hills, Hyderabad – 500034, Andhra Pradesh, India |
|
Date of Birth/Age : |
30.01.1970 |
|
Date of Appointment : |
06.01.2014 |
|
DIN No.: |
00526638 |
MAJOR SHAREHOLDERS
AS ON 3.09.2014
SHAREHOLDERS DETAILS FILE ARE NOT AVAILABLE.
Equity Share Break up (Percentage of Total Equity)
AS ON 30.09.2014
|
Category |
Percentage |
|
Nationalised or other banks |
0.01 |
|
Mutual funds |
0.01 |
|
Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s),
Non-resident Indian(s) or Overseas Corporate bodies or Others |
0.01 |
|
Bodies corporate |
12.73 |
|
Directors or relatives of Directors |
58.68 |
|
Other top fifty shareholders |
11.63 |
|
Others |
16.93 |
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|
|
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of Yarn. |
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Products : |
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Brand Names : |
Not Divulged |
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Agencies Held : |
Not Divulged |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
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Selling : |
Not Divulged |
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Purchasing : |
Not Divulged |
PRODUCTION STATUS – NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
Not Divulged |
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Bankers : |
Not Available |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Brahmayya and Company Chartered Accountants |
|
Address : |
D.No:22-29/5, Gubbalavari Street Society Road, Tanuku – 534211, India |
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PAN No.: |
AADFB8032G |
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Membership : |
-- |
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Enterprises which are owned, or have
significant influence of or are partners with Key management personnel and
their relatives : |
· Suryavanshi Industries Limited · Suryajyoti Spinning Mills Limited · Sheshadri Industries Limited · Surya Lakshmi Cotton Mills Limited · Suryavanshi Spinning Mills Limited |
CAPITAL STRUCTURE
AS ON 30.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5000000 |
Equity Shares |
Rs.10/- each |
Rs.50.000 Millions |
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|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3499270 |
Equity Shares |
Rs.10/- each |
Rs.34.993 Millions |
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FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
|
31.03.2014 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
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|
|
|
(a) Share Capital |
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|
34.993 |
|
(b) Reserves & Surplus |
|
|
40.982 |
|
(c) Money
received against share warrants |
|
|
0.000 |
|
|
|
|
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|
(2) Share Application money pending
allotment |
|
|
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
|
|
75.975 |
|
|
|
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(3)
Non-Current Liabilities |
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|
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|
(a) long-term borrowings |
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|
89.635 |
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(b) Deferred tax liabilities (Net) |
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|
0.000 |
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(c) Other long term
liabilities |
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|
0.000 |
|
(d) long-term
provisions |
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|
7.765 |
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Total Non-current
Liabilities (3) |
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|
97.400 |
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(4)
Current Liabilities |
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|
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|
(a) Short
term borrowings |
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|
165.969 |
|
(b) Trade
payables |
|
|
140.843 |
|
(c) Other
current liabilities |
|
|
66.185 |
|
(d) Short-term
provisions |
|
|
0.682 |
|
Total Current
Liabilities (4) |
|
|
373.679 |
|
|
|
|
|
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TOTAL |
|
|
547.054 |
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|
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II.
ASSETS |
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(1)
Non-current assets |
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|
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|
(a) Fixed
Assets |
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|
|
|
(i)
Tangible assets |
|
|
270.445 |
|
(ii)
Intangible Assets |
|
|
0.013 |
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(iii)
Capital work-in-progress |
|
|
9.573 |
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(iv)
Intangible assets under development |
|
|
0.000 |
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(b) Non-current Investments |
|
|
0.000 |
|
(c) Deferred tax assets (net) |
|
|
0.000 |
|
(d) Long-term Loan and Advances |
|
|
19.438 |
|
(e) Other
Non-current assets |
|
|
0.000 |
|
Total Non-Current
Assets |
|
|
299.469 |
|
|
|
|
|
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(2)
Current assets |
|
|
|
|
(a)
Current investments |
|
|
0.000 |
|
(b)
Inventories |
|
|
100.930 |
|
(c) Trade
receivables |
|
|
81.796 |
|
(d) Cash
and cash equivalents |
|
|
10.098 |
|
(e)
Short-term loans and advances |
|
|
15.160 |
|
(f) Other
current assets |
|
|
39.601 |
|
Total
Current Assets |
|
|
247.585 |
|
|
|
|
|
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TOTAL |
|
|
547.054 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
|
31.03.2014 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
|
1109.877 |
|
|
|
Other Income |
|
|
24.182 |
|
|
|
TOTAL (A) |
|
|
1134.059 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
|
|
741.477 |
|
|
|
Changes in Inventories of finished goods, work-in-progress and
stock-in-trade |
|
|
31.748 |
|
|
|
Employee Benefits Expenses |
|
|
78.857 |
|
|
|
Other Expenses |
|
|
213.339 |
|
|
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TOTAL (B) |
|
|
1065.421 |
|
|
|
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PROFIT/(LOSS)
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
|
|
68.638 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
|
|
37.639 |
|
|
|
|
|
|
|
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|
|
PROFIT/(LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
|
|
30.999 |
|
|
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION (F) |
|
|
30.835 |
|
|
|
|
|
|
|
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|
PROFIT/(LOSS)
BEFORE TAX (E-F) (G) |
|
|
0.164 |
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|
|
|
|
|
|
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Less |
TAX (H) |
|
|
0.000 |
|
|
|
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|
PROFIT/(LOSS)
AFTER TAX (G-H) (I) |
|
|
0.164 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
|
|
0.05 |
|
KEY RATIOS
|
PARTICULARS |
|
|
|
31.03.2014 |
|
Net Profit Margin PAT / Sales |
(%) |
|
|
0.01 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/Sales) |
(%) |
|
|
6.18 |
|
|
|
|
|
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|
Return on Total Assets (PBT/Total Assets} |
(%) |
|
|
0.03 |
|
|
|
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|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
|
|
0.00 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
|
|
3.36 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
|
|
0.66 |
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
one year |
Yes |
|
12] |
Profitability for last
one year |
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 |
No |
|
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 |
No |
OPERATIONS
Company achieved Total Revenue of Rs.1134.100 Millions (including Other Income of Rs.24.200 Millions) and achieved a profit of Rs.0.200 Millions for the Year ended 31st March, 2014. The operational results are pertaining to the Yarn unit situated at Bhongir, Nalgonda District, Telangana State. Which were part of the erstwhile Demerged company. As per the Scheme of Arrangement Accounts were drawn up from 01.04.2013 to 31.03.2014. Since it is the first report subsequent to Demerger previous year’s figures are not comparable.
SCHEME OF ARRANGEMENT BY WAY OF DEMERGER (SCHEME)
BETWEEN SURYAVANSHI SPINNING MILLS LTD, AANANDA LAKSHMI SPINNING MILLS LTD AND
SHESHADRI INDUSTRIES LTD AND THEIR RESPECTIVE MEMBERS AND CREDITORS
Hon’ble High Court
at Hyderabad approved vide its Orders dated July 30, 2014, the Scheme of
Arrangement by way of Demerger between Suryavanshi Spinning Mills Limited,
Aananda Lakshmi Spinning Mills Limited and Sheshadri Industries Limited and
their respective members and creditors for demeger of yarn unit at Bhongir,
Telangana into Aananda Lakshmi Spinning Mills Limited (Resulting Company -1)
and yarn unit at Rajna, Madhya Pradesh (along with two Garment divisions
Telangana) into Sheshadri Industries Limited (Resulting Company-2) and
retaining yarn unit and medical textile unit at Aliabad, Ranga Reddy District
Telangana. The said Orders of the Hon’ble High Couirt were filed with Registrar
of Companies,at Hyderabad on August 21, 2014 (Effective Date).The Appointed
Date for the Scheme for Arrangement was April 1, 2013.
During the year
under review the authorised share capital of the Company was increased from Rs.
1,00,00,000 to 5,00,00,000 divided into 50,00,000 equity shares of Rs. 10/-
each.
In terms of the
Scheme of Arrangement, 26 equity share of Rs. 10/- each fully paid up of
Aananda Lakshmi spinning Mills Ltd. (Resulting Company-1) have been allotted to
the shareholders for every 100 equity shares held in Suryavanshi Spinning Mills
Limited Accordingly the paid up capital of the Company stands increased from
5,00,000 to Rs. 3,49,92,700. Shares of Aananda Lakshmi Spinning Mills Limited,
will be listed in the BSE Limited The Demerger is expected to unlock and
maximize value to the shareholders of Suryavanshi Spinning Mills Limited and
Aananda Lakshmi Spinning Mills Limited, through focused operations of both
Companies.
FUTURE OUTLOOK
Company proposes
to invest about 3.50 crores towards modernization of the machinery to improve
productivity and achieve better quality. Company has also taken various policies
to ensure availability of adequate labour force and control operational cost.
The various measures initiated by the Company will go a long way to improve in
the production and to contribute to the bottom line.
UNSECURED LOANS:
|
Particulars |
31.03.2014 Rs. In Millions |
|
Long Term Borrowings |
|
|
Loans repayable
on demand |
0.722 |
|
Deferred payment
liabilities |
28.699 |
|
|
|
|
Total |
29.421 |
NO CHARGES EXIST
FOR COMPANY.
FIXED ASSETS:
·
Land
·
Building
·
Plant and Machinery
·
Furniture and Fixture
·
Office Equipment
·
Computer
·
Vehicles
PRESS RELEASE
August 22, 2014:
Suryavanshi Spinning Mills Ltd has informed BSE that as per Scheme of Arrangement under Sections 391 to 394 and other applicable provisions of the Companies Act, 1956 (Act), Suryavanshi spinning mills ltd proposed to demerge and transfer of Yarn Unit at Bhongir together with 4 acres of land together with temporary structures in Survey Nos 558 and 560 situated at Aliabad village, Medchal Taluq, Shameerpet Mandal, Rangareddy District, Telangana state hereinafter referred to as Undertaking -1 of Suryavanshi Spinning Mills Limited into Aananda Lakshmi Spinning Mills Limited (Resulting Company-1) (ALSML) and Yarn Unit at Rajna, Madhya Pradesh and Garment Units at Aliabad and Bhongir, Telangana state hereinafter referred to as Undertaking - 2 of Suryavanshi Spinning Mills Limited into Sheshadri Industries Limited (Resulting Company-2) (SIL).
And Suryavanshi spinning mills ltd shall retain the existing yarn and Medical textile unit at Aliabad village, Shameerpet Mandal, Medchal Taluq, Ranga Reddy District, Telangana state.
Pursuant to the Scheme of Arrangement between Suryavanshi Spinning Mills Limited (SVSML) and Aananda Lakshmi Spinning Mills Limited (ALSM) and Sheshadri Industries Limited (SIL) and their respective shareholders, sanctioned by the Hon’ble High Court of Andhra Pradesh vide its Order dated July 30, 2014 the paid up share capital of Suryavanshi Spinning Mills Limited has been restructured and new shares will be allotted to the shareholders of Suryavanshi Spinning Mills Limited, whose names appeared on the Record Date, the shareholder will be issued and allotted the equity shares of Rs. 10/- each fully paid in the following manner in lieu of the existing 100 (hundred) shares held by him in the existing Demerged Company i.e. Suryavanshi Spinning Mills Ltd as on the Record Date
i. 26 (Twenty Six) equity shares of Resulting Company-1 i.e. Aananda Lakshmi Spinning Mills Ltd
ii. 37 (Thirty Seven) equity shares of Resulting Company-2 i.e. Sheshadri Industries ltd
Reorganization of Share Capital Upon the Scheme coming into effect and also upon issuance of shares by the Resulting Companies as referred above the issued, subscribed and paid up equity share capital of Suryavanshi shall be reduced from Rs. 13,26,64,230 divided into 1,32,66,423 equity shares of Rs. 10/- each to Rs. 4,90,85,760 divided into 1,32,66,423 equity shares of Rs. 3.70/- each. Upon such reduction of share capita! taking effect 1,32, 66,423 equity shares of Rs. 3.70/- each shall be consolidated to Rs. 10/- per equity share and accordingly the paid up capital of Suryavanshi post capital reduction shall be Rs. 4,90,85,760 divided into 49,08,576 equity shares of Rs. 10/- each. Every member of Suryavanshi whose name is borne in the Register of members and of the Registrar and Share Transfer Agent on the record date shall receive 37 new equity shares of Rs. 10/- each in lieu of 100 existing equity shares of Rs. 10/- each in Suryavanshi.
Any member holding shares in Suryavanshi Spinning Mills ltd in such that the member becomes entitled to a fraction of equity in Aananda Lakshmi Spinning Mills ltd (ALSML) Sheshadri Industries ltd (SIL) and in Suryavanshi spinning mills ltd (SVSML), the ALSML, SIL and SVSML shall not issue fractional share certificates to such member but shall consolidate such fractions and issue consolidated equity shares to the respective trustees nominated by the ALSML, SIL and SVSML in that behalf, who shall sell such shares and distribute the net sale proceeds (after deduction of the expenses incurred) to the members entitled to the same in proportion to the fractional entitlements.
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 records 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.63.45 |
|
|
1 |
Rs.95.99 |
|
Euro |
1 |
Rs.75.28 |
INFORMATION DETAILS
|
Information
Gathered by : |
HNA |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
NKT |
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 |
3 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER
|
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
|
|
|
|
TOTAL |
|
27 |
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.