MIRA INFORM REPORT
|
Report No. : |
331891 |
|
Report Date : |
13.07.2015 |
IDENTIFICATION DETAILS
|
Name : |
DECO MICA LIMITED |
|
|
|
|
Registered
Office : |
306, 3rd Floor, Iscon Mall, Star Bazar Building, Jodhpur Char
Rasta, Satellite, Ahmedabad – 380015, Gujarat |
|
Tel. No.: |
91-79-26730412 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2015 |
|
|
|
|
Date of
Incorporation : |
07.06.1988 |
|
|
|
|
Com. Reg. No.: |
04-010807 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 42.000 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
L20299GJ1988PLC010807 |
|
|
|
|
IEC No.: |
Not Available |
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|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
AHMD00980A |
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|
|
PAN No.: [Permanent Account No.] |
AAACD8652J |
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|
Legal Form : |
A Public Limited Liability Company. The Company’s Shares are Listed on
the Stock Exchanges. |
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|
|
Line of Business
: |
Manufacturer, Exporter and Importer of Decorative Laminated Sheet. |
|
|
|
|
No. of Employees
: |
40 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (43) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
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|
|
|
Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having satisfactory track record. The rating takes into consideration company’s established company’s
established track record in manufacturing paper-based decorative laminates
supported by healthy operational performance, sound financial base and fair
profitability margins of the company. 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
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 |
CRISIL |
|
Rating |
Long Term Rating = BB+ |
|
Rating Explanation |
Inadequate-credit –quality and high credit risk. |
|
Date |
April 13, 2015 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short Term Rating = A4+ |
|
Rating Explanation |
Minimal degree of safety and very high credit risk. |
|
Date |
April 13, 2015 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAILTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter in
the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2013.
INFORMATION DENIED BY
|
Name : |
Mr. Dhaval |
|
Designation : |
Accountants |
|
Contact No.: |
91-79-26730412 |
LOCATIONS
|
Registered Office : |
306, 3rd Floor, Iscon Mall, Star Bazar Building, Jodhpur
Char Rasta, Satellite, Ahmedabad – 380015, Gujarat, India |
|
Tel. No.: |
91-79-26763691/ 32988875 |
|
Mobile No.: |
91-9327924089 (Mr. Shah) |
|
Fax No.: |
91-79-40028458 |
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E-Mail : |
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|
Website : |
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|
|
Factory : |
1195, Rajpur, Chhutral Mehsana Highway, Taluka Kadi, Gujarat, India |
DIRECTORS
As On 31.03.2014
|
Name : |
Mr. Vijay Kumar Agarwal |
|
Designation : |
Chairman and Managing Director |
|
Address : |
8 Kairavi Bunglow, Near Sarthi Hotel, Bodakdev, Ahmedabad – 3800054,
Gujarat, India |
|
Date of Appointment : |
01.01.1997 |
|
|
|
|
Name : |
Mr. Vishal V. Agarwal |
|
Designation : |
Director |
|
Address : |
8 Kairavi Bunglow, Near Sarthi Hotel, Bodakdev, Ahmedabad – 3800054,
Gujarat, India |
|
Date of Appointment : |
08.11.2008 |
|
DIN No. : |
01763739 |
|
|
|
|
Name : |
Mr. Udaybhan V. Tripathi |
|
Designation : |
Director |
|
Address : |
5, Omchamunda Apartment, Bhaikakangr, Thaltej, Ahmedabad – 380001,
Gujarat, India |
|
Date of Appointment : |
30.03.2005 |
|
DIN No. : |
02571149 |
|
|
|
|
Name : |
Mr. Harishbhai Joshi |
|
Designation : |
Director |
|
Address : |
72, Shivganesh Bungalow Shilaj Road Thaltej, Ahmedabad – 380059,
Gujarat, India |
|
Date of Appointment : |
15.03.2007 |
|
DIN No. : |
01871634 |
KEY EXECUTIVES
|
Name : |
Mr. S. Murthy |
|
Designation : |
Export Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 31.03.2015
|
Category of
Shareholder |
No. of Shares |
% of Holdings |
|
(A) Shareholding
of Promoter and Promoter Group |
||
|
|
|
|
|
|
2941900 |
70.05 |
|
|
2941900 |
70.05 |
|
|
|
|
|
Total
shareholding of Promoter and Promoter Group (A) |
2941900 |
70.05 |
|
(B) Public
Shareholding |
||
|
|
|
|
|
|
27100 |
0.65 |
|
|
27100 |
0.65 |
|
|
|
|
|
|
241200 |
5.74 |
|
|
|
|
|
|
643200 |
15.31 |
|
|
346600 |
8.25 |
|
|
1231000 |
29.31 |
|
Total Public
shareholding (B) |
1258100 |
29.95 |
|
Total (A)+(B) |
4200000 |
100.00 |
|
(C) Shares held by
Custodians and against which Depository Receipts have been issued |
0 |
0.00 |
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
Total
(A)+(B)+(C) |
4200000 |
0.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer, Exporter and Importer of Decorative Laminated Sheet. |
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Products : |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
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Products : |
Finished Goods |
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Countries : |
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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 Credit |
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Purchasing : |
Cash and Credit |
GENERAL INFORMATION
|
Suppliers : |
Not Divulged |
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Customers : |
Not Divulged |
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No. of Employees : |
40 (Approximately) |
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[Bankers : |
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Facilities : |
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Auditors : |
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|
Name : |
J.T. Shah and Company Chartered Accountants |
|
Address : |
201-202, Lalita Complex, Navarangpura, Ahmedabad, Gujarat, India |
|
PAN No.: |
AABFJ6616J |
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|
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Memberships : |
-- |
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Collaborators : |
-- |
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Related Parties : |
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CAPITAL STRUCTURE
As On 31.03.2014
Authorised Capital : Not Available
Issued, Subscribed & Paid-up Capital : Rs. 42.000 Million
As On 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
5000000 |
Equity Shares |
Rs. 10/- each |
Rs. 50.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
4200000 |
Equity Shares |
Rs. 10/-
each |
Rs. 42.000
Million |
|
|
|
|
|
The company has only one class of shares referred to as Equity shares having face value of Rs. 10/- Each Holder of equity share is entitled to 1 vote per share.
In the event of liquidation of the Company, the holders of equity shares will be entitled to receive any of the remaining assets of the company, after distribution of all preferential amounts. However, no such preferential amounts exist currently, the distribution will be in proportion to the number of equity shares held by the shareholder.
Reconciliation of the number of shares outstanding and the amount of share capital as at 31.03.2014 and 31.03.2013 is set out below.
|
Particulars |
31.03.2014 |
|
|
|
No. of Shares |
Rs. In millions |
|
Shares at the beginning |
4200000 |
42.000 |
|
Addition |
0.000 |
0.000 |
|
Deletion |
0.000 |
0.000 |
|
Shares at the
end |
4200000 |
42.000 |
The details of shareholders holding more than 5% shares are set
out below.
|
Name of
Shareholder |
31.03.2014 |
|
|
|
No. of Shares |
% held |
|
Mr. Vijay Agarwal |
1576100 |
37.53% |
|
Smt. Santoshdevi Agarwal |
247000 |
5.88% |
FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
42.000 |
42.000 |
42.000 |
|
(b) Reserves & Surplus |
68.559 |
56.445 |
44.889 |
|
(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) |
110.559 |
98.445 |
86.889 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
19.085 |
17.789 |
9.693 |
|
(b) Deferred tax liabilities (Net) |
10.463 |
7.550 |
5.292 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
29.548 |
25.339 |
14.985 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
86.463 |
73.111 |
44.469 |
|
(b) Trade payables |
107.509 |
119.437 |
90.804 |
|
(c) Other
current liabilities |
42.216 |
30.706 |
17.615 |
|
(d) Short-term
provisions |
4.148 |
5.072 |
2.703 |
|
Total Current
Liabilities (4) |
240.336 |
228.326 |
155.591 |
|
|
|
|
|
|
TOTAL |
380.443 |
352.110 |
257.465 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
99.149 |
79.536 |
56.732 |
|
(ii)
Intangible Assets |
0.015 |
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
0.000 |
5.154 |
0.000 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.007 |
0.007 |
0.007 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
3.542 |
4.849 |
4.141 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
102.713 |
89.546 |
60.880 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
79.431 |
77.756 |
58.777 |
|
(c) Trade
receivables |
180.065 |
170.532 |
129.010 |
|
(d) Cash
and cash equivalents |
11.248 |
7.675 |
4.628 |
|
(e)
Short-term loans and advances |
6.986 |
6.601 |
4.170 |
|
(f) Other
current assets |
0.000 |
0.000 |
0.000 |
|
Total Current
Assets |
277.730 |
262.564 |
196.585 |
|
|
|
|
|
|
TOTAL |
380.443 |
352.110 |
257.465 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
458.157 |
436.321 |
345.732 |
|
|
|
Other Income |
0.796 |
1.078 |
1.012 |
|
|
|
TOTAL (A) |
458.953 |
437.999 |
346.744 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Material Consumed |
357.927 |
334.669 |
267.964 |
|
|
|
Purchase of Stock-in-Trade |
0.000 |
1.187 |
0.000 |
|
|
|
Changes in inventories of finished goods, work-in-progress and
Stock-in-Trade |
(9.391) |
(1.670) |
(10.555) |
|
|
|
Employees benefit expenses |
19.487 |
19.752 |
15.876 |
|
|
|
Other expenses |
54.808 |
52.553 |
46.863 |
|
|
|
Prior period expenses |
0.000 |
0.000 |
0.000 |
|
|
|
TOTAL (B) |
422.831 |
406.491 |
320.148 |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (A-B) (C) |
36.122 |
30.908 |
26.569 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
11.555 |
9.018 |
6.496 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
24.567 |
21.890 |
20.100 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
5.615 |
4.191 |
3.331 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F)
(G) |
18.952 |
17.699 |
16.769 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
6.693 |
6.144 |
6.167 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-H) (I) |
12.259 |
11.555 |
10.602 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
NA |
92.011 |
68.147 |
|
|
|
Capital Goods |
NA |
7.714 |
4.187 |
|
|
TOTAL IMPORTS |
NA |
99.725 |
72.334 |
|
|
|
|
|
|
|
|
|
|
Earnings / (Loss)
Per Share (Rs.) |
2.92 |
2.75 |
2.52 |
|
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
Current Maturities of Long term debt |
NA |
4.980 |
2.917 |
|
Cash generated from operations |
NA |
6.456 |
21.865 |
|
Net cash From Operating Activates |
NA |
(4.506) |
9.041 |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
Net Profit Margin (PAT / Sales) |
(%) |
2.68 |
2.65 |
3.07 |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
7.88 |
7.08 |
7.69 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
4.98 |
5.10 |
6.51 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.17 |
0.18 |
0.19 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.95 |
0.97 |
0.66 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.16 |
1.15 |
1.26 |
STOCK
PRICES
|
Face Value |
Rs. 10.00/- |
|
Market Value |
Rs. 8.54/- |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2013 |
31.03.2014 |
31.03.2015 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Share Capital |
42.000 |
42.000 |
42.000 |
|
Reserves & Surplus |
44.889 |
56.445 |
68.559 |
|
Net
worth |
86.889 |
98.445 |
110.559 |
|
|
|
|
|
|
long-term borrowings |
9.693 |
17.789 |
19.085 |
|
Short term borrowings |
44.469 |
73.111 |
86.463 |
|
Total
borrowings |
54.162 |
90.900 |
105.548 |
|
Debt/Equity
ratio |
0.623 |
0.923 |
0.955 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2013 |
31.03.2014 |
31.03.2015 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Sales |
345.732 |
436.321 |
458.157 |
|
|
|
26.202 |
5.005 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2013 |
31.03.2014 |
31.03.2015 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Sales |
345.732 |
436.321 |
458.157 |
|
Profit |
10.602 |
11.555 |
12.259 |
|
|
3.07% |
2.65% |
2.68% |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
|
1 |
Year of establishment |
Yes |
|
2 |
Constitution of the entity -Incorporation
details |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
No |
|
5 |
Buyer visit details |
---- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
Yes |
|
8 |
Designation of contact person |
Yes |
|
9 |
Promoter’s background |
No |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
No |
|
11 |
Pan Card No. of Proprietor / Partners |
No |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
No |
|
16 |
No. of employees |
Yes |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
Yes |
|
22 |
Conduct of the banking account |
---- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
Yes |
|
26 |
Turnover of firm for last three years |
Yes |
|
27 |
Reasons for variation <> 20% |
---- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
Yes |
|
32 |
Litigations that the firm/promoter
involved in |
---- |
|
33 |
Market information |
---- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
10404374 |
12/02/2013 |
10,300,000.00 |
HDFC BANK LIMITED |
HDFC
BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W |
B68605278 |
|
2 |
80051026 |
18/01/2014 * |
98,200,000.00 |
STATE BANK OF INDIA |
LAGHU UDHYOG BRANCH, OPP. GANDHGRAM RAILWAY STATION, AHMEDABAD, GUJARAT - 380009, INDIA |
B95702585 |
* Date of charge modification
UNSECURED LOANS
|
PARTICULAR |
31.03.2015 (Rs.
in Million) |
31.03.2014 (Rs.
in Million) |
|
SHORT TERM
BORROWINGS |
|
|
|
Loan from Relatives |
NA |
23.019 |
|
|
|
|
|
Total |
NA |
23.019 |
FIXED ASSETS
- Land
Leasehold
- Office
Buildings
- Factory
Building
- Plant and
Machinery
- Office
Equipment
- Vehicles
- Computers
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts, India Prisons Service, Interpol,
etc.
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. 63.38 |
|
UK Pound |
1 |
Rs. 97.65 |
|
Euro |
1 |
Rs. 70.43 |
INFORMATION DETAILS
|
Information Gathered
by : |
NYA |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
GTA |
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 |
|
--PROFITABILITY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
4 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
43 |
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.