MIRA INFORM REPORT
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Report No. : |
304608 |
|
Report Date : |
24.01.2015 |
IDENTIFICATION DETAILS
|
Name : |
FLAMAGAS INDIA PRIVATE LIMITED (w.e.f 14.12.1999) |
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Formerly Known
As : |
IMCO LIGHTERS PRIVATE LIMITED |
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Registered
Office : |
121/2C, Mambakkam Post, Chennai – 600 048, Tamilnadu |
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Country : |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
05.10.1995 |
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Com. Reg. No.: |
18-033144 |
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Capital
Investment / Paid-up Capital : |
Rs. 43.750 Millions |
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CIN No.: [Company Identification
No.] |
U93090TN1995PTC033144 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
Not Available |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturers and Exporters of Cigarette Lighters (Refillable
and Non-Refillable) and Kitchen Gas Lighters. |
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No. of Employees
: |
300 (Approximately) |
RATING & COMMENTS
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MIRA’s Rating : |
Ba (53) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 730000 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having fine track. Financial position of the company seems to be decent. Trader relations are reported as fair. Business is active. Payment
terms are reported to be regular and as per commitments. The company can be considered normal for business dealings at usual
trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – September 30, 2014
|
Country Name |
Previous Rating (30.06.2014) |
Current Rating (30.09.2014) |
|
India |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
Not Available |
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Rating |
Not Available |
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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 PARTED BY
|
Name : |
Mr. Venugopal |
|
Designation : |
Account Department |
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Contact No.: |
91-44-27479054 |
|
Date : |
21.01.2015 |
LOCATIONS
|
Registered Office/ Factory : |
121/2C, Mambakkam Post, Chennai – 600 048, |
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Tel. No.: |
91-44-27479054/ 32910019 |
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Fax No.: |
91-44-27479065 |
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E-Mail : |
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Website : |
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Location : |
Owned |
DIRECTORS
As on 30.09.2014
|
Name : |
Mr. Jose Maria Puig Planas |
|
Designation : |
Director |
|
Address : |
P. Bonanova, 63 BIS – 08017, |
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Date of Birth/Age : |
13.03.1931 |
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Date of Appointment : |
26.11.1999 |
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DIN No.: |
00484113 |
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Name : |
Mr. Xavier Puig Alsina |
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Designation : |
Director |
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Address : |
C/ Angli, 36, Bajos – 08017, |
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Date of Birth/Age : |
16.01.1957 |
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Date of Appointment : |
26.11.1999 |
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DIN No.: |
00484170 |
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Name : |
Mr. Pedro Puig Alsina |
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Designation : |
Director |
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Address : |
C/Sor Eulalia De Anzizu 51-53, 08034, |
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Date of Birth/Age : |
29.05.1961 |
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Date of Appointment : |
26.11.1999 |
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DIN No.: |
00742180 |
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Name : |
Mr. Markandan Kilpauk Sivasankaran |
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Designation : |
Director |
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Address : |
No. 46, |
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Date of Birth/Age : |
03.10.1935 |
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Date of Appointment : |
02.07.1999 |
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DIN No.: |
00505217 |
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Name : |
Mrs. Shamini Mahendran |
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Designation : |
Director |
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Address : |
Post Box No. 52474, |
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Date of Birth/Age : |
24.04.1962 |
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Date of Appointment : |
02.07.1999 |
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DIN No.: |
00315008 |
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Name : |
Mr. Ganapathi Krishnamurthy |
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Designation : |
Alternate Director to act for Mrs. Shamini Mahendran |
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Address : |
F-5, Phase II, Jains Aashiana, Vembuliamman Koil Street,
Virugambakkam, Chennai – 600078, Tamilnadu, India |
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Date of Birth/Age : |
15.11.1961 |
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Date of Appointment : |
01.09.2008 |
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DIN No.: |
00396277 |
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Name : |
Mr. Mohideen Thiwan Syed Muhammad Abubucker |
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Designation : |
Alternate Director |
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Address : |
A – Block, Flat No. F-1, Lakshmipriya Apartments, No. 12 – A,
Dandeswaram, 3rd Cross Street, 6th Main Road,
Velachery, Chennai – 600 042, Tamilnadu, India |
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Date of Birth/Age : |
25.07.1965 |
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Date of Appointment : |
17.07.2009 |
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DIN No.: |
00456413 |
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Name : |
Mr. Jayaram Vediyara Chandroth |
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Designation : |
Alternate DirecAlsina |
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Address : |
Flat No G 6, Prime Terrece 150, |
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Date of Birth/ Age : |
11.10.1961 |
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Date of Appointment : |
21.05.2010 |
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DIN No.: |
02029575 |
KEY EXECUTIVES
|
Name : |
Mr. Venugopal |
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Designation : |
Account Department |
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Name : |
JM and Associates |
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Designation : |
Company Secretaries |
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Address : |
Indiradevi Complex, II Floor, |
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Tel. No.: |
91-44-42070906/ 28152670 |
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E-Mail : |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2014
|
Names of Shareholders |
No. of Shares |
%age
holding |
|
Peacock Chennai Finvest Private Limited, |
1071875 |
24.50 |
|
Flamagas SA, |
2231250 |
51.00 |
|
Asadi Holdings Limited, U.A.E. |
1071875 |
24.50 |
|
Total |
4375000 |
100.00 |
Equity Share Break up (Percentage of Total Equity)
As on 30.09.2014
|
Category |
Percentage |
|
Foreign holdings( Foreign institutional investor(s),
Foreign companie(s) Foreign financial institution(s), Non-resident Indian(s)
or Overseas Corporate bodies or Others |
75.50 |
|
Bodies corporate |
24.50 |
|
Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturers and Exporters of Cigarette Lighters
(Refillable and Non-Refillable) and Kitchen Gas Lighters. |
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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 : |
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Products : |
Not Divulged |
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Countries : |
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Imports : |
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Products : |
Not Divulged |
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Countries : |
China |
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Terms : |
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Selling : |
Cash and Cheque |
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Purchasing : |
Cash and Cheque |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
Wholesalers and Retailers
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No. of Employees : |
300 (Approximately) |
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Bankers : |
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Auditors : |
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Name : |
K.S. Aiyar and Company Chartered Accountants |
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Address : |
54/2 Paulwells Road, ST. Thomas Mount, Chennai – 600016, Tamil Nadu,
India |
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Tel. No.: |
91-44-22330206 |
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Fax No.: |
91-44-22330207 |
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E-Mail : |
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PAN N Income-tax PAN of auditor or auditor's firm : |
AAAFK6843P |
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Memberships : |
-- |
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Collaborators : |
-- |
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Holding Company: |
Flamagas SA |
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Fellow
subsidiaries: |
Flamagas Linars, Clipper 1959, Flamagas Logistics |
CAPITAL STRUCTURE
As on 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
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|
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 |
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|
|
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|
4375000 |
Equity Shares |
Rs.10/- each |
Rs. 43.750
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 |
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I.
EQUITY AND LIABILITIES |
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(1)Shareholders' Funds |
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(a) Share Capital |
43.750 |
43.750 |
35.000 |
|
(b) Reserves & Surplus |
212.321 |
182.626 |
78.327 |
|
(c) Money received against
share warrants |
0.000 |
0.000 |
0.000 |
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(2) Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
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Total
Shareholders’ Funds (1) + (2) |
256.071 |
226.376 |
113.327 |
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(3) Non-Current Liabilities |
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(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
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(b) Deferred tax liabilities
(Net) |
3.162 |
1.663 |
1.693 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
1.353 |
2.707 |
0.595 |
|
Total
Non-current Liabilities (3) |
4.515 |
4.370 |
2.288 |
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(4) Current Liabilities |
|
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|
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(a) Short term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade payables |
82.935 |
89.266 |
103.820 |
|
(c) Other current liabilities |
0.000 |
0.000 |
0.000 |
|
(d) Short-term provisions |
16.809 |
7.312 |
2.920 |
|
Total
Current Liabilities (4) |
99.744 |
96.578 |
106.740 |
|
|
|
|
|
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TOTAL |
360.330 |
327.324 |
222.355 |
|
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II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
134.013 |
113.818 |
44.366 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital work-in-progress |
0.598 |
2.478 |
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 |
0.000 |
0.000 |
0.000 |
|
(e) Other Non-current assets |
0.414 |
0.826 |
0.776 |
|
Total
Non-Current Assets |
135.025 |
117.122 |
45.142 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
110.432 |
117.796 |
114.236 |
|
(c) Trade receivables |
85.179 |
68.475 |
51.385 |
|
(d) Cash and cash equivalents |
23.324 |
19.234 |
8.500 |
|
(e) Short-term loans and
advances |
0.000 |
0.000 |
0.000 |
|
(f) Other current assets |
6.370 |
4.697 |
3.092 |
|
Total
Current Assets |
225.305 |
210.202 |
177.213 |
|
|
|
|
|
|
TOTAL |
360.330 |
327.324 |
222.355 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Net Sales |
485.732 |
393.346 |
246.660 |
|
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Other Income |
NA |
NA |
NA |
|
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TOTAL
|
NA |
NA |
NA |
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EXPENSES |
NA |
NA |
NA |
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PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
51.542 |
12.822 |
11.321 |
|
|
|
|
|
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|
|
DEPRECIATION/
AMORTISATION |
7.268 |
5.396 |
4.527 |
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|
|
PROFIT/
(LOSS) BEFORE TAX |
44.274 |
7.426 |
6.794 |
|
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|
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|
TAX |
14.591 |
2.455 |
2.032 |
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|
PROFIT/
(LOSS) AFTER TAX |
29.681 |
4.971 |
4.762 |
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|
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|
|
MAT Credit Entitlements |
0.000 |
0.000 |
0.129 |
|
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|
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|
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
44.465 |
39.494 |
34.603 |
|
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|
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|
|
|
Balance
Carried to the B/S |
74.145 |
44.465 |
39.494 |
|
|
|
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|
|
|
|
EARNINGS
IN FOREIGN CURRENCY |
398.485 |
276.552 |
152.666 |
|
|
|
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|
IMPORTS |
|
|
|
|
|
Raw Materials and Components |
257.885 |
216.945 |
196.096 |
|
|
Capital Goods |
12.923 |
15.034 |
2.494 |
|
|
TOTAL
IMPORTS |
270.808 |
231.979 |
198.590 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
6.78 |
NA |
NA |
Expected Sales (2014-2015) : Rs.540.000 Millions
The above information has been parted by Mr. Venugopal
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
6.11 |
1.26 |
1.93 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
12.31 |
2.29 |
3.06 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.17 |
0.03 |
0.06 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.26 |
2.18 |
1.66 |
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 |
35.000 |
43.750 |
43.750 |
|
Reserves & Surplus |
78.327 |
182.626 |
212.321 |
|
Net
worth |
113.327 |
226.376 |
256.071 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Total
borrowings |
0.000 |
0.000 |
0.000 |
|
Debt/Equity
ratio |
0.000 |
0.000 |
0.000 |
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) |
|
Net Sales |
246.660 |
393.346 |
485.732 |
|
|
|
59.469 |
23.487 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Net Sales |
246.660 |
393.346 |
485.732 |
|
Profit |
4.762 |
4.971 |
29.681 |
|
|
1.93% |
1.26% |
6.11% |
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 |
Yes |
|
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 |
Yes |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
Yes |
|
18] |
Major customers |
Yes |
|
19] |
Payments terms |
Yes |
|
20] |
Export / Import details
(if applicable) |
Yes |
|
21] |
Market information |
-- |
|
22] |
Litigations that the firm
/ promoter involved in |
-- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
No |
|
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 |
INDEX
OF CHARGES: NO CHARGES EXIST FOR COMPANY
FUTURE OUTLOOK:
The Company is continuing with the direct exports to USA market. The company has plans to invest on Flint Automation, Flint Moulds, and Brio Moulds with refillable bottoms. This will strengthen the export market plan worldwide and export plan to Brazil.
The company has initiated for ISO certification (ISO 9001:2008) on Quality Management System. This will enable the company cost savings, enhanced customer satisfaction, Access to new markets and Increase in Market share in world trade.
With expansion of foreign market for our products we hope to increase our sales in the coming years.
CONTINGENT
LIABILITIES:
(Rs. in millions)
|
PARTICULARS |
31.03.2014 |
|
|
|
|
Claims against the company not acknowledged as debt The Central Excise Department has raised a demand for INR. 1.706 Millions on the Company towards Excise / Customs duty and penalty thereon on the shortage of Stocks identified on physical verification during F.Y 2002-2003.The Company is of the opinion that the claim has not been justified and had filed an Appeal before Commissioner (Appeal) Central Excise - Chennai. The commissioner (Appeal) has concluded that only duty can be levied on shortages and the claim has been reduced to INR – 0.798 Million The Company has filed an petition before the Tribunal to set aside this claim by depositing INR.0.200 Million and the same is pending. |
0.798 |
|
Claims against the company not acknowledged as debt The Central Excise department has raised a demand for INR 0.533 Million towards removal of capital goods for job works to it’s the vendors. As capital goods are moved with proper approvals, the company has appealed against the demand raised by the department. The appeal is pending to heard by the CESTAT (Customs, Excise and service tax Appellate tribunals |
0.533 |
|
Claims against the company not acknowledged as debt The Central Excise Department has raised a demand for INR 1.251 Million towards a 100% EOU, has to pay education cesses on the aggregate of customs duties paid on the goods sold in DTA. The company had taken a view that the duty paid was equal to basis excise duties, and therefore education cessess calculated on such duty need to be paid. The Company is of the opinion that the claim has not been justified and had filed an Appeal before Commissioner (Appeal) Central Excise - Chennai. The Company has filed an petition before the Tribunal to set aside this claim by depositing INR. 0.100 Million and the same is pending. During this financial year 2013-14 the company has made payment of Rs. 0.290 Million which is about 50% of the aggregate demand towards education cessess as pre-deposit u/s 35f of the Central Excise Act 1944. |
1.251 |
|
Bank Guarantee (Fixed Deposit) The company executed Guarantee bond for B17 Bond with President of India, acting through the Office of the Assistant Commissioner of Central Excise, Kelambakkam Range (Tambaram Division –I), No. 40, Ranga Colony, Rajakilpakkam, Chennai-600 073, |
1.800 |
|
Bank Guarantee (Fixed Deposit) The company executed Guarantee bond for B17 Bond with President of India, acting through the Office of the Assistant Commissioner of Central Excise, Vengaivasal Range, (Tambaram Division –I), No. 40, Ranga Colony, Rajakilpakkam, Chennai-600 073, |
0.750 |
FIXED ASSETS
Tangible Assets
- Freehold Land
- Factory Building
- Building other than Factory
- Plant & Machinery
- Electrical Installations
- Furniture & Fittings
- Vehicles
- Office Equipment
- Computers
- Minor Assets
- Moulds & Dies
- Lab Equipments
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.61.50 |
|
|
1 |
Rs.92.16 |
|
Euro |
1 |
Rs.69.62 |
INFORMATION DETAILS
|
Information
Gathered by : |
GYT |
|
|
|
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
KVT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILITY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
53 |
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.