MIRA INFORM REPORT
|
Report No. : |
332692 |
|
Report Date : |
21.07.2015 |
IDENTIFICATION DETAILS
|
Name : |
MAHENDRA BROTHERS EXPORTS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
CE-7015, 7th Floor, Tower C, G Block, Bharat Diamond Bourse,
BKC, Bandra - (East), Mumbai – 400051, Maharashtra |
|
Tel No.: |
91-22-66615600/ 23634565 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
05.04.2007 |
|
|
|
|
Com. Reg. No.: |
11-169724 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.1183.551 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U52393MH2007PTC169724 |
|
|
|
|
IEC No.: |
Not Divulged |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMM31691C |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAFCM0246E |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer, Trader and Exporter of Polished Diamonds and Rough
Diamond. |
|
|
|
|
No. of Employees
: |
1200 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (52) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
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|
|
Litigation : |
Clear |
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|
Comments : |
Subject was established as a partnership firm in 1960 and
reconstituted as private limited company in 2007. It is engaged in the
processing and export of cut and polished diamonds. Subject is a
well-established company having fine track record. For the financial year ended 2014, company possesses sound operational
performance and reported 22.81% topline growth along with profitability
margins at 1.02%. Rating also takes into consideration experience, resourcefulness and
established track record of the promoters in the Gems and Jewellery supported
by sound financial base and diversified clientele base across geographies. Rating strength partially offset by volatile profitability margins
arising out of volatility in the prices of diamonds/foreign exchange rates
and working capital-intensive nature of operations. However, trade relations are reported as fair. Payments are reported
to be regular and as per commitment. In view of aforesaid, the company can be considered good for normal
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.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
Long term bank facilities A- |
|
Rating Explanation |
Adequate degree of safety and low credit
risk. |
|
Date |
March 25, 2015 |
|
Rating Agency Name |
CARE |
|
Rating |
Short term Bank Facilities = A2 |
|
Rating Explanation |
Strong degree of safety and low credit risk. |
|
Date |
March 25, 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) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2013.
INFORMATION PARTED BY (GENERAL DETAILS)
|
Name : |
Mr. Jignesh P Mangukia |
|
Designation : |
Vice President Finance |
|
Contact No.: |
91-22-66615600 |
|
Date : |
17.07.2015 |
LOCATIONS
|
Registered Office : |
CE-7015, 7th Floor, Tower C, G Block, Bharat Diamond
Bourse, BKC, Bandra - (East), Mumbai – 400051, Maharashtra, India |
|
Tel. No.: |
91-22-66615600/ 23634565 |
|
Fax No.: |
91-22-66615661 |
|
E-Mail : |
|
|
Website : |
|
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|
|
|
Head Office / Sales Office : |
Tower C, Central Wing, CE 7011-15, (8th floor) G Block,
Bharat Diamond Bourse, BKC, Bandra (E), Mumbai 400051, Maharashtra, India |
|
Tel. No.: |
91-22-66156000 |
|
Fax No.: |
91-22-66615633 |
|
|
|
|
Factory: |
B1/ F1, Mukam Post Jamalpur, Gandevi Road, Behind Koushalya Park, Navsari
– 396445, Gujarat, India |
DIRECTORS
AS ON 25.09.2014
|
Name : |
Mr. Saunak Jitendra Parikh |
|
Designation : |
Whole Time Director |
|
Address : |
F-171, Patit Hall Menka 66, Nepeansea Road, Mumbai – 40006,
Maharashtra, India |
|
Date of Birth/Age : |
22.08.1971 |
|
Qualification : |
B.Com |
|
Date of Appointment : |
05.04.2007 |
|
DIN No.: |
00256316 |
|
|
|
|
Name : |
Ms. Milan Kavin Parikh |
|
Designation : |
Whole Time Director |
|
Address : |
15-A, Next to Khatau Condominium, J. Mehta Marg, Mumbai-400006,
Maharashtra, India |
|
Date of Birth/Age : |
06.07.1963 |
|
Qualification : |
B.Com |
|
Date of Appointment : |
05.04.2007 |
|
PAN No.: |
AADPP0814G |
|
DIN No.: |
00256411 |
|
|
|
|
Name : |
Mr. Hiten Bagmal Parikh |
|
Designation : |
Whole Time Director |
|
Address : |
41, Laxmi Vilas, 8 Nepean Sea Road, Mumbai-400006, Maharashtra, India |
|
Date of Birth/Age : |
03.09.1956 |
|
Qualification : |
S.S.C. |
|
Date of Appointment : |
05.04.2007 |
|
PAN No.: |
AABPP5876A |
|
DIN No.: |
00292585 |
|
|
|
|
Name : |
Mr. Raj Hiten Parikh |
|
Designation : |
Whole Time Director |
|
Address : |
41-Laxmi Vilas, 87 Nepeansea Road, Mumbai-400006, Maharashtra, India |
|
Date of Birth/Age : |
21.12.1981 |
|
Date of Appointment : |
05.04.2007 |
|
PAN No.: |
AGFPP6664E |
|
DIN No.: |
00921828 |
|
|
|
|
Name : |
Mr. Rishi Hiten Parikh |
|
Designation : |
Director |
|
Address : |
41-Laxmi Vilas, 87 Nepeansea Road, Mumbai-400006, Maharashtra, India |
|
Date of Birth/Age : |
22.10.1987 |
|
Date of Appointment : |
15.10.2012 |
|
PAN No.: |
AAIPP6682M |
|
DIN No.: |
06405194 |
KEY EXECUTIVES
|
Name : |
Mr. Jignesh P Mangukia |
|
Designation : |
Vice President Finance |
MAJOR SHAREHOLDERS
AS ON 25.09.2014
(SHAREHOLDERS DETAILS FILE ATTACHED)
Equity Share Break up (Percentage of Total Equity)
AS ON 25.09.2014
|
Category |
Percentage of Holding |
|
Foreign holdings( Foreign institutional investor(s),
Foreign companie(s) Foreign financial institution(s), Non-resident Indian(s)
or Overseas Corporate bodies or Others |
4.50 |
|
Directors or relatives of Directors |
71.49 |
|
Other top fifty shareholders |
24.01 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer, Trader and Exporter of Polished Diamonds and Rough
Diamond. |
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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 : |
Rough Diamond |
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Countries : |
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Terms : |
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Selling : |
Cash, L\C and Credit |
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Purchasing : |
Cash, L\C and Credit |
PRODUCTION STATUS: NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
1200 (Approximately) |
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Bankers : |
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Facilities : |
(Rs.
In Million)
|
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Auditors : |
|
|
Name : |
Sampat Mehta and Associates Chartered Accountants |
|
Address : |
B-501 / 502 11, Sarvoday, Western express S Highway Bandra - East, Mumbai 400051, Maharashtra, India |
|
E-Mail : |
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|
Website : |
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PAN
No. : |
AAAFS1266J |
|
|
|
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Memberships : |
-- |
|
|
|
|
Collaborators : |
-- |
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|
Subsidiary
Company : |
|
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|
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Enterprises significantly
influenced by key management personnel : |
|
CAPITAL STRUCTURE
As on 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
70000000 |
Equity Shares |
Rs.10/- each |
Rs.700.000 Million |
|
155000000 |
Preference Shares |
Rs.10/- each |
Rs.1550.000 Million |
|
25000000 |
Unclassified Shares |
Rs.10/- each |
Rs.250.000 Million |
|
|
Total |
|
Rs.2500.000
Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
63357071 |
Equity Shares |
Rs.10/- each |
Rs.633.571 Million |
|
54998100 |
Preference Shares |
Rs.10/- each |
Rs.549.981 Million |
|
|
|
|
|
|
|
Total |
|
Rs.1183.551
Million |
FINANCIAL DATA
[all figures are
in Rupees Million]
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 |
1183.551 |
1183.552 |
1183.552 |
|
(b) Reserves & Surplus |
1667.036 |
1443.807 |
1346.078 |
|
(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) |
2850.587 |
2627.359 |
2529.630 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
2294.651 |
2386.400 |
767.000 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
1639.859 |
|
(d) long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
2294.651 |
2386.400 |
2406.859 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term
borrowings |
7424.176 |
5927.670 |
5788.855 |
|
(b) Trade payables |
3694.726 |
4349.234 |
2977.650 |
|
(c) Other current
liabilities |
100.684 |
72.081 |
43.863 |
|
(d) Short-term provisions |
1.173 |
1.293 |
1.130 |
|
Total Current Liabilities
(4) |
11220.759 |
10350.278 |
8811.498 |
|
|
|
|
|
|
TOTAL |
16365.997 |
15364.037 |
13747.987 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
1764.006 |
1856.07 |
1563.312 |
|
(ii) Intangible Assets |
3.257 |
2.189 |
2.598 |
|
(iii) Capital
work-in-progress |
0.000 |
0.000 |
396.632 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
146.409 |
148.962 |
157.159 |
|
(c) Deferred tax assets (net) |
(34.364) |
306.49 |
338.821 |
|
(d)
Long-term Loan and Advances |
15.986 |
15.676 |
20.014 |
|
(e) Other Non-current
assets |
453.188 |
423.543 |
393.516 |
|
Total Non-Current Assets |
2348.482 |
2752.930 |
2872.052 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.327 |
0.738 |
5.615 |
|
(b) Inventories |
6658.979 |
6120.832 |
5536.551 |
|
(c) Trade receivables |
6794.564 |
5928.773 |
4939.897 |
|
(d) Cash and cash
equivalents |
434.370 |
447.808 |
236.555 |
|
(e) Short-term loans
and advances |
125.376 |
110.517 |
156.935 |
|
(f) Other current
assets |
3.899 |
2.439 |
0.382 |
|
Total Current Assets |
14017.515 |
12611.107 |
10875.935 |
|
|
|
|
|
|
TOTAL |
16365.997 |
15364.037 |
13747.987 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
25819.197 |
21029.090 |
|
|
|
|
Other Income |
22.089 |
12.827 |
|
|
|
|
TOTAL (A) |
25841.286 |
21041.917 |
20544.353 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
13657.051 |
11373.845 |
|
|
|
|
Purchases of Stock-in-Trade |
7799.801 |
6418.572 |
|
|
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
(290.646) |
(703.034) |
|
|
|
|
Employees benefits expense |
177.063 |
163.721 |
|
|
|
|
Other expenses |
2786.449 |
2735.404 |
|
|
|
|
TOTAL (B) |
24129.718 |
19988.508 |
20363.220 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
1711.568 |
1053.409 |
181.133 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
993.695 |
796.785 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
717.873 |
256.624 |
181.133 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
99.359 |
101.013 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
618.514 |
155.611 |
181.133 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
354.453 |
28.360 |
152.658 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
264.061 |
127.251 |
28.475 |
|
|
|
IMPORTS |
|
|
|
|
|
|
Raw Materials |
6697.795 |
11232.574 |
NA |
|
|
|
Components and Stores parts |
0.180 |
0.708 |
NA |
|
|
|
Capital Goods |
0.000 |
8.127 |
NA |
|
|
|
TOTAL
IMPORTS |
6697.975 |
11241.409 |
NA |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
4.17 |
2.01 |
0.24 |
|
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current Maturities of Long term debt |
NA |
NA |
NA |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net cash flows from (used in) operations |
(835.328) |
599.101 |
(587.247) |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
1.02 |
0.61 |
NA |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
6.63 |
5.01 |
0.88 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
3.81 |
1.04 |
1.41 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.22 |
0.06 |
0.07 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
3.41 |
2.54 |
2.59 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.25 |
1.22 |
1.23 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Share Capital |
1183.552 |
1183.552 |
1183.551 |
|
Reserves & Surplus |
1346.078 |
1443.807 |
1667.036 |
|
Net worth |
2529.630 |
2627.359 |
2850.587 |
|
|
|
|
|
|
long-term borrowings |
767.000 |
741.000 |
2294.651 |
|
Short term borrowings |
5788.855 |
5927.670 |
7424.176 |
|
Total borrowings |
6555.855 |
6668.670 |
9718.827 |
|
Debt/Equity ratio |
2.592 |
2.538 |
3.409 |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Sales |
20544.353 |
21029.09 |
25819.197 |
|
|
|
2.359 |
22.778 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Sales |
20544.353 |
21029.09 |
25819.197 |
|
Profit |
28.475 |
127.251 |
264.061 |
|
|
0.14% |
0.61% |
1.02% |
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 |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
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) |
Yes |
|
16 |
No. of employees |
Yes |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
Yes |
|
19 |
Major customers |
Yes |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
No |
|
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 |
Yes |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
NOTE: Registered office of the company has been
shifted from 611, Panchratna, Mama Parmanand Marg,
Opera House, Mumbai- 400004, Maharashtra India to the present address w.e.f. 25.04.2013
UNSECURED LOAN
|
PARTICULARS |
31.03.2014 (Rs.
in Million) |
31.03.2013 (Rs.
in Million) |
|
Fully convertible debentures banks |
2161.100 |
741.100 |
|
Loans and advances from related parties |
133.551 |
1645.300 |
|
Total |
2294.651 |
2386.400 |
FIXED ASSETS
Tangible assets
- Land
- Buildings
- Plant and equipment
- Furniture and fixtures
- Vehicles
- Office equipment
- Computer equipments
- Computer equipments
Intangible assets
- Computer software
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.63.55 |
|
UK Pound |
1 |
Rs.99.10 |
|
Euro |
1 |
Rs.68.83 |
INFORMATION DETAILS
|
Information
Gathered by : |
DIP |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
GTA |
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 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--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 |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
52 |
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.