MIRA INFORM REPORT
|
Report No. : |
302543 |
|
Report Date : |
12.01.2015 |
IDENTIFICATION DETAILS
|
Name : |
J G HOSIERY PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
58/1, Solipalayam Road, 15 Velampalayam, Tirupur – 641607, Tamil Nadu |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
02.04.2001 |
|
|
|
|
Com. Reg. No.: |
18-009707 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs.22.951 millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U18101TZ2001PTC009707 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACJ9381N |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Company is engaged in manufacture of men’s inner garments and mast of
the jobs are being done by resorting to out-sourcing. |
|
|
|
|
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 |
|
Maximum Credit Limit : |
USD 3300000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track record. General financial position of the company seems to be sound and
healthy. Profitability of the company is fair. 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 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.
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 |
FITCH |
|
Rating |
Long Term Issuer Rating = BBB+ |
|
Rating Explanation |
Moderate degree of safety and moderate
credit risk |
|
Date |
12 Sept, 2014 |
|
Rating Agency Name |
FITCH |
|
Rating |
Non fund based working capital facilities =
A2 |
|
Rating Explanation |
Strong degree of safety and low credit risk |
|
Date |
12 Sept, 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 : |
58/1, Solipalayam Road, 15 Velampalayam Tirupur – 641607, Tamil Nadu,
India |
|
Tel. No.: |
91-421-4327700 |
|
Fax No.: |
91-421-4327701 / 4320701 |
|
Email : |
DIRECTORS
AS ON 29.09.2014
|
Name : |
Bishwanath Seksaria |
|
Designation : |
Director |
|
Address : |
CA-9, Salt Lake City, Kolkata – 700064, West Bengal, India |
|
Date of Birth/Age : |
15.12.1946 |
|
Date of Appointment : |
02.04.2001 |
|
PAN No.: |
AJVPS5644L |
|
DIN No.: |
00580782 |
|
|
|
|
Name : |
Shyamsundar Seksaria |
|
Designation : |
Director |
|
Address : |
CA-9, Salt Lake City, Kolkata – 700064, West Bengal, India |
|
Date of Birth/Age : |
05.01.1948 |
|
Date of Appointment : |
02.04.2001 |
|
PAN No.: |
ALTPS1164R |
|
DIN No.: |
00580741 |
|
|
|
|
Name : |
Sandeep Seksaria |
|
Designation : |
Director |
|
Address : |
CA-9, Salt Lake City, Kolkata – 700064, West Bengal, India |
|
Date of Birth/Age : |
02.06.1975 |
|
Date of Appointment : |
18.04.2007 |
|
DIN No.: |
00578545 |
|
|
|
|
Name : |
Pankaj Seksaria |
|
Designation : |
Director |
|
Address : |
CA-9, Salt Lake City, Kolkata – 700064, West Bengal, India |
|
Date of Birth/Age : |
20.12.1972 |
|
Date of Appointment : |
04.04.2001 |
|
PAN No.: |
AKOPS6316D |
|
DIN No.: |
00580808 |
|
|
|
|
Name : |
Navin Seksaria |
|
Designation : |
Director |
|
Address : |
41, Aadhipra Sakthi, Koil Street, Tirupur, Coimbatore – 641607,
Tamilnadu, India |
|
Date of Birth/Age : |
26.06.1977 |
|
Date of Appointment : |
04.04.2001 |
|
PAN No.: |
AKOPS6496C |
|
DIN No.: |
00578455 |
MAJOR SHAREHOLDERS
AS ON 29.09.2014
|
Names of Shareholders |
No. of Shares |
|
Bishwanath Seksaria |
160000 |
|
Shyam Sundar Seksaria |
210000 |
|
Pankaj Seksaria |
200000 |
|
Sandeep Seksaria |
100000 |
|
Prabha Seksaria |
778000 |
|
Kusum Seksaria |
745000 |
|
Navin Seksaria |
4000 |
|
Bhagawati Prasad Poddar |
100 |
|
Parameswaridevi Seksaria |
10000 |
|
Shalini Seksaria |
4000 |
|
Neeru Seksaria |
4000 |
|
Bishwanath Seksaria (HUF) |
4000 |
|
Shyam Sundar Seksaria (HUF) |
4000 |
|
Jay Gee Industies (I) Private Limited |
60000 |
|
Payal Seksaria |
4000 |
|
Pankaj Seksaria (HUF) |
2000 |
|
Sandeep Seksaria (HUF) |
2000 |
|
Navin Seksaria (HUF) |
4000 |
|
|
|
|
Total |
2295100 |
Equity Share Break up (Percentage of Total Equity)
AS ON 29.09.2014
|
Category |
Percentage |
|
Bodies corporate |
2.61 |
|
Directors or relatives of Directors |
97.38 |
|
Others |
0.01 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Company is engaged in manufacture of men’s inner garments and mast of
the jobs are being done by resorting to out-sourcing. |
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Products : |
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Brand Names : |
-- |
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Agencies Held : |
-- |
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Exports : |
-- |
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Imports : |
-- |
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Terms : |
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Selling : |
-- |
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Purchasing : |
-- |
PRODUCTION STATUS – NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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No. of Employees : |
Not Available |
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Bankers : |
·
ICICI Bank Limited, 3A Gurusaday Road, 2nd
Floor, Kolkata – 700019, West Bengal, India
|
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
S. Krishnamoorthy and Company Chartered Accountant |
|
Address : |
Kanapathy Towers, 3rd Floor, 1391/A-1, Sathy Road Ganapathy
Po Coimbatore – 641006, India |
|
PAN No.: |
AALFS4188C |
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|
|
|
Membership : |
-- |
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|
|
|
Associate : |
Jay Gee Industries (India) Private Limited [U29291WB1991PTC050939] |
CAPITAL STRUCTURE
AS ON 29.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3000000 |
Equity Share |
Rs.10/- each |
Rs. 30.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2295100 |
Equity Share |
Rs.10/- each |
Rs.22.951
Millions |
|
|
|
|
|
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 |
22.951 |
22.951 |
22.951 |
|
(b) Reserves & Surplus |
1117.941 |
821.682 |
581.328 |
|
(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) |
1140.892 |
844.633 |
604.279 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
473.843 |
470.036 |
443.768 |
|
(b) Deferred tax liabilities (Net) |
13.379 |
7.925 |
1.728 |
|
(c) Other long term
liabilities |
22.882 |
17.243 |
13.163 |
|
(d) long-term
provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
510.104 |
495.204 |
458.659 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
604.648 |
921.579 |
527.603 |
|
(b) Trade
payables |
475.310 |
435.402 |
376.577 |
|
(c) Other
current liabilities |
346.632 |
267.676 |
195.846 |
|
(d) Short-term
provisions |
191.641 |
149.475 |
95.428 |
|
Total Current
Liabilities (4) |
1618.231 |
1774.132 |
1195.454 |
|
|
|
|
|
|
TOTAL |
3269.227 |
3113.969 |
2258.392 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
600.799 |
450.234 |
100.646 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
36.137 |
34.802 |
238.655 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
21.271 |
5.283 |
0.011 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
54.729 |
40.919 |
44.404 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
712.936 |
531.238 |
383.716 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
1267.054 |
1477.785 |
1083.117 |
|
(c) Trade
receivables |
947.498 |
877.104 |
643.707 |
|
(d) Cash and
cash equivalents |
167.530 |
86.201 |
18.312 |
|
(e)
Short-term loans and advances |
174.209 |
141.641 |
129.540 |
|
(f) Other
current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
2556.291 |
2582.731 |
1874.676 |
|
|
|
|
|
|
TOTAL |
3269.227 |
3113.969 |
2258.392 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
|
|
|
|
|
TURNOVER |
7811.100 |
6071.500 |
5034.400 |
|
|
|
|
|
|
|
Less |
EXPENSES |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
PROFIT AFTER TAX |
296.300 |
240.354 |
147.700 |
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
129.10 |
104.72 |
64.354 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin PAT / Sales |
(%) |
3.79 |
3.96 |
2.93 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.95 |
1.65 |
1.61 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.58 |
1.46 |
1.57 |
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 |
22.951 |
22.951 |
22.951 |
|
Reserves & Surplus |
581.328 |
821.682 |
1117.941 |
|
Net
worth |
604.279 |
844.633 |
1140.892 |
|
|
|
|
|
|
long-term borrowings |
443.768 |
470.036 |
473.843 |
|
Short term borrowings |
527.603 |
921.579 |
604.648 |
|
Total
borrowings |
971.371 |
1391.615 |
1078.491 |
|
Debt/Equity
ratio |
1.607 |
1.648 |
0.945 |
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 |
5034.400 |
6071.500 |
7811.100 |
|
|
|
20.600 |
28.652 |
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
|
5034.400 |
6071.500 |
7811.100 |
|
Profit |
147.700 |
240.354 |
296.300 |
|
|
2.93% |
3.96% |
3.79% |
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 |
NOTE: Registered office of the company has been shifted from 39 1 Om Sakthi Koli
Street, Kongunagar Extenion, Tirupur – 641007, Tamil Nadu, India to the present
address w.e.f. 03.10.2012
UNSECURED LOANS:
|
Particulars |
31.03.2014 Rs. In Millions |
31.03.2013 Rs. In Millions |
|
Long Term Borrowings |
|
|
|
Intercorporate borrowings |
214.303 |
215.971 |
|
Loans and
advances from others |
117.830 |
121.735 |
|
Rupee term loans
from banks |
0.000 |
0.163 |
|
|
|
|
|
Total |
332.133 |
337.869 |
INDEX OF CHARGE:
|
Sr. No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10490326 |
20/03/2014 |
10,000,000.00 |
ICICI BANK LIMITED |
LANDMARKRACE COURCE CIRCLE, ALKAPURI, BARODA, GUJARAT - 390015, INDIA |
C03824166 |
|
2 |
10388735 |
02/11/2012 |
18,500,000.00 |
AXIS BANK LIMITED |
TIRUPUR BRANCH, NO 3 COURT STREET, TIRUPUR, TAMILNADU - 641601, INDIA |
B62864178 |
|
3 |
10339652 |
10/06/2013 * |
125,800,000.00 |
AXIS BANK LIMITED |
TIRUPUR BRANCH, NO 3 COURT STREET, TIRUPUR, TAMILNADU - 641601, INDIA |
B80835051 |
|
4 |
10337086 |
11/11/2014 * |
568,200,000.00 |
ICICI BANK LIMITED |
3A GURUSADAY ROAD, 2ND FLOOR, KOLKATA, WEST BENGAL - 700019, INDIA |
C36026128 |
|
5 |
10313982 |
28/09/2011 |
70,000,000.00 |
AXIS BANK LIMITED |
TIRUPUR BRANCH, NO.3, COURT STREET, TIRUPUR, TAMIL NADU - 641601, INDIA |
B23862295 |
|
6 |
10305202 |
05/09/2011 |
9,900,000.00 |
AXIS BANK LIMITED |
NO.3, COURT STREET, TIRUPUR BRANCH, TIRUPUR, TAMIL NADU - 641601, INDIA |
B20028569 |
|
7 |
10261425 |
14/12/2010 |
60,000,000.00 |
AXIS BANK LIMITED |
TIRUPUR BRANCH, OPP TO COURT, COURT ROAD, TIRUPUR, TAMIL NADU - 641601, INDIA |
B02031573 |
|
8 |
10247703 |
18/10/2010 |
30,000,000.00 |
AXIS BANK LIMITED |
TIRUPUR BRANCH, OPP COURT, COURT ROAD, TIRUPUR, TAMIL NADU - 641601, INDIA |
A98050677 |
|
9 |
10243071 |
09/09/2010 |
70,000,000.00 |
AXIS BANK LIMITED |
NO 3 COURT STREET, OPP TO COURT, TIRUPUR, TAMIL NADU - 641601, INDIA |
A95604773 |
|
10 |
10207771 |
30/03/2013 * |
117,000,000.00 |
STATE BANK OF INDIA |
SPECIALIZED COMMERCIAL BRANCH,, STANES ROAD, TIRUPUR, TAMIL NADU - 641602, INDIA |
B73387888 |
|
11 |
90009258 |
19/08/2010 * |
489,700,000.00 |
AXIS BANK LIMITED |
TIRUPUR BRANCH, COURT ROAD, OPP TO COURT, TIRUPUR, TAMIL NADU - 641601, INDIA |
B25919408 |
*Date of modification Charges
FIXED ASSETS:
·
Land
·
Building
·
Plant and Machinery
·
Furniture and Fixture
·
Office Equipment
·
Computer
·
Vehicles
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No exist to suggest that subject is or was
the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals have
been formally charged or convicted by a competent governmental authority for
any financial crime or under any formal investigation by a competent government
authority for any violation of anti-corruption laws or international anti-money
laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.40 |
|
|
1 |
Rs.94.17 |
|
Euro |
1 |
Rs.73.61 |
INFORMATION DETAILS
|
Analysis Done by
: |
KRN |
|
|
|
|
Report Prepared
by : |
NKT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILITY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--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 |
|
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.