MIRA INFORM REPORT
|
Report No. : |
326400 |
|
Report Date : |
10.06.2015 |
IDENTIFICATION DETAILS
|
Name : |
STERLING META-PLAST INDIA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
E/3, Hiral Mansion Bhangwadi,
Kalbadevi Road, Mumbai – 400002, Maharashtra |
|
Tel. No.: |
91-22-22003420 / 21 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
11.07.1994 |
|
|
|
|
Com. Reg. No.: |
11-079559 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs.0.616 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U25209MH1994PTC079559 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
Not Available |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Trader and Importer of Spectacle Frames, Lenses, Sunglasses and Allied
Products. |
|
|
|
|
No. of Employees
: |
110 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (32) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject was established in the year 1994 and Sterling Group has grown
into one of the India’s largest distributors of quality eyewear and sunwear. It is an established company having moderate track record. The company has achieved turnover of Rs.884.903 Million for the FY
2014 as against turnover of Rs. 785.340 Million for the FY 2013, which
represents increase of about 12.68%. Net Loss after Tax for the FY 2014 is
Rs.59.915 Million as against Net Profit After Tax of Rs. 10.015 Million for
the FY 2013 which is mainly due to foreign currency exchange loss, inventory
write down and closure of writing instrument business. However, trade relations are reported as fair. Business is active.
Payments are reported to be slow but correct. The company can be considered for business dealings with some
cautions. |
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 |
Not Available |
|
Rating |
Not Available |
|
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
31-03-2013.
INFORMATION PARTED BY (GENERAL DETAILS)
|
Name : |
Mr. Jacab |
|
Designation : |
Account Department |
|
Contact No.: |
91-22-41178000 |
|
Date : |
07.06.2015 |
LOCATIONS
|
Registered Office : |
E-3, Hiral Mansion Bhangwadi, Kalbadevi Road, Mumbai – 400002,
Maharashtra, India |
|
Tel. No.: |
91-22-22003420 / 21 |
|
Fax No.: |
91-22-22056364 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Warehouse : |
Located at :
|
|
|
|
|
Branch Office : |
Plot No.-5, Sector 19/A, Near Commodity Exchange Building, Vashi, Navi
Mumbai – 400705, Maharashtra, India |
|
Tel. No.: |
91-22-41178000 |
|
Fax No.: |
91-22-41178060 |
DIRECTORS
As on 12.09.2014
|
Name : |
Mr. Ketan Lalchand Parikh |
|
Designation : |
Wholetime Director |
|
Address : |
1801/1802, Raheja Atlantis, 18th Floor, B Wing, Ganpatrao Kadam Marg, Off Worli Naka, Mumbai - 400013. |
|
Date of Birth/Age : |
06.10.1966 |
|
Date of Appointment : |
11.07.1994 |
|
DIN No.: |
00329375 |
|
|
|
|
Name : |
Mr. Rajesh Lalchand Parikh |
|
Designation : |
Wholetime Director |
|
Address : |
A-1, Matru Ashish C.H.S. Ltd., 9th Floor, 39, Nepeansea Road, Mumbai - 400036. |
|
Date of Birth/Age : |
04.07.1968 |
|
Date of Appointment : |
11.07.1994 |
|
DIN No.: |
00329534 |
|
|
|
|
Name : |
Mr. Amit Lalchand Parikh |
|
Designation : |
Wholetime Director |
|
Address : |
Flat No. 21-D, Venus Apartments, 6th Floor, R.G. Thadani Marg, Worli, Mumbai - 400018. |
|
Date of Birth/Age : |
21.08.1970 |
|
Date of Appointment : |
11.07.1994 |
|
DIN No.: |
00329608 |
|
|
|
|
Name : |
Mr. Stephen Arthur Wright |
|
Designation : |
Nominee Director |
|
Address : |
4707 Hearthstone PL, EL Dorado HLS,CA 95762, USA |
|
Date of Birth/Age : |
28.08.1956 |
|
Date of Appointment : |
01.10.2013 |
|
DIN No.: |
06625259 |
|
|
|
|
Name : |
Mr. Kong Fan |
|
Designation : |
Nominee Director |
|
Address : |
FT B, 12/F, BLK 1 Braemar Hill Mans, 15 Braemar Hill Road, North Point, Hong Kong |
|
Date of Birth/Age : |
25.08.1967 |
|
Date of Appointment : |
01.10.2013 |
|
DIN No.: |
06643093 |
|
|
|
|
Name : |
Mr. Philip Graham Hibbert |
|
Designation : |
Nominee Director |
|
Address : |
26 Wild Duck Road, Wykoff, New Jersy 074813330. USA |
|
Date of Birth/Age : |
08.02.1971 |
|
Date of Appointment : |
12.09.2014 |
|
DIN No.: |
06947288 |
|
|
|
|
Name : |
Mr. Sin Ching Lai |
|
Designation : |
Nominee Director |
|
Address : |
1/F, Flat D, Block 36, Village Gardens, 36FA PO Street, Yau Yat Cheun, Kowloon. Hong Kong |
|
Date of Birth/Age : |
03.04.1966 |
|
Date of Appointment : |
11.09.2014 |
|
DIN No.: |
06962272 |
KEY EXECUTIVES
|
Name : |
Mr. Jacab |
|
Designation : |
Account Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 12.09.2014
|
Names of Shareholders |
No. of Shares |
%age
holding |
|
Jitendra Lalchand Parikh |
785 |
12.75 |
|
Ketan Lalchand Parikh |
785 |
12.75 |
|
Rajesh Lalchand Parikh |
785 |
12.75 |
|
Amit Lalchand Parikh |
785 |
12.75 |
|
Marchon Mauritius Limited, Mauritius. |
3017 |
49.00 |
|
Total |
6157 |
100.00 |
Equity Share Break up (Percentage of Total Equity)
As on 12.09.2014
|
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 |
49.00 |
|
Directors or relatives of Directors |
51.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Trader and Importer of Spectacle Frames, Lenses, Sunglasses and Allied
Products. |
|
|
|
|
Products : |
|
|
|
|
|
Brand Names : |
Not Divulged |
|
|
|
|
Agencies Held : |
Not Divulged |
|
|
|
|
Exports : |
Not Divulged |
|
|
|
|
Imports : |
|
|
Products : |
Finished Goods |
|
Countries : |
|
|
|
|
|
Terms : |
|
|
Selling : |
Cash and Credit |
|
|
|
|
Purchasing : |
Cash and Credit |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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No. of Employees : |
110 (Approximately) |
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|
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Bankers : |
Dena Bank, Princess Street Branch, Mumbai – 400002, Maharashtra, India |
||||||||||||||||||||||||||||
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|
||||||||||||||||||||||||||||
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Facilities : |
|
|
Auditors : |
|
|
Name : |
R.G. Thakkar Chartered Accountants |
|
Address : |
77/78, Commercial Chambers, Masjid Bunder Road, Mumbai – 400003,
Maharashtra, India |
|
PAN N Income-tax PAN of auditor or auditor's firm : |
AAAFR1902Q |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Entities under common control : |
|
CAPITAL STRUCTURE
As on 12.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000 |
Equity Shares |
Rs.100/- each |
Rs.1.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
6157 |
Equity Shares |
Rs.100/- each |
Rs.0.616
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 |
0.616 |
0.424 |
0.424 |
|
(b) Reserves & Surplus |
486.649 |
246.755 |
236.740 |
|
(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) |
487.265 |
247.179 |
237.164 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
152.973 |
332.197 |
236.186 |
|
(b) Deferred tax liabilities
(Net) |
0.000 |
0.000 |
0.000 |
|
(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) |
152.973 |
332.197 |
236.186 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade payables |
301.387 |
193.521 |
155.305 |
|
(c) Other current liabilities |
28.197 |
13.972 |
13.216 |
|
(d) Short-term provisions |
1.652 |
0.050 |
44.522 |
|
Total
Current Liabilities (4) |
331.236 |
207.543 |
213.043 |
|
|
|
|
|
|
TOTAL |
971.474 |
786.919 |
686.393 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
34.072 |
36.944 |
12.264 |
|
(ii) Intangible Assets |
10.729 |
0.854 |
0.436 |
|
(iii) Capital work-in-progress |
0.000 |
0.000 |
14.502 |
|
(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) |
3.224 |
1.636 |
0.619 |
|
(d) Long-term Loan and Advances |
0.000 |
0.000 |
0.000 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
48.025 |
39.434 |
27.821 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
371.550 |
328.316 |
296.636 |
|
(c) Trade receivables |
517.977 |
400.311 |
308.733 |
|
(d) Cash and cash equivalents |
9.936 |
1.116 |
4.496 |
|
(e) Short-term loans and
advances |
23.986 |
17.742 |
48.707 |
|
(f) Other current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
923.449 |
747.485 |
658.572 |
|
|
|
|
|
|
TOTAL |
971.474 |
786.919 |
686.393 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Income |
884.903 |
785.340 |
672.456 |
|
|
Other Income |
NA |
NA |
NA |
|
|
TOTAL
(A) |
NA |
NA |
NA |
|
|
|
|
|
|
|
Less |
TOTAL
EXPENSES |
NA |
NA |
NA |
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (C) |
(22.813) |
63.182 |
89.023 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
29.034 |
39.599 |
27.509 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
(51.847) |
23.583 |
61.514 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION (F) |
9.892 |
7.721 |
3.478 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX (E-F) (G) |
(61.739) |
15.862 |
58.036 |
|
|
|
|
|
|
|
Less |
TAX (H) |
(1.824) |
5.847 |
20.325 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX (G-H) (I) |
(59.915) |
10.015 |
37.711 |
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD (K) |
245.780 |
235.765 |
198.054 |
|
|
|
|
|
|
|
|
Balance
Carried to the B/S (J+K+L-M) |
185.865 |
245.780 |
235.765 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
(11.426) |
2.362 |
8.894 |
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 |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
(6.77) |
1.28 |
5.61 |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
(2.58) |
8.05 |
13.24 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(6.38) |
2.02 |
8.65 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.13) |
0.06 |
0.24 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.31 |
1.34 |
1.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.79 |
3.60 |
3.09 |
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 |
0.424 |
0.424 |
0.616 |
|
Reserves & Surplus |
236.740 |
246.755 |
486.649 |
|
Net
worth |
237.164 |
247.179 |
487.265 |
|
|
|
|
|
|
long-term borrowings |
236.186 |
332.197 |
152.973 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Total
borrowings |
236.186 |
332.197 |
152.973 |
|
Debt/Equity
ratio |
0.996 |
1.344 |
0.314 |
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 |
672.456 |
785.340 |
884.903 |
|
|
|
16.787 |
12.678 |
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 |
672.456 |
785.340 |
884.903 |
|
Profit |
37.711 |
10.015 |
(59.915) |
|
|
5.61% |
1.28% |
(6.77%) |
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 |
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 |
No |
|
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 |
OPERATIONS:
The company has achieved turnover of Rs. 884.903 Million during the year
as against turnover of Rs. 785.340 Million during the previous year. Which
represents increase of about 12.6%. Net loss after tax for the year is Rs.
59.915 Million as against Net profit after tax Rs. 10.015 Million for the
previous year. Which is mainly due for foreign currency exchange loss,
inventory write down and closure of writing instrument business. The Director
are making constant endeavor to explore new markets to increase turnover and
profitability.
UNSECURED LOAN
|
Unsecured Loan |
31.03.2014 (Rs.
in Million) |
31.03.2013 (Rs.
in Million) |
|
Long-term
Borrowings |
|
|
|
Non-Convertible debenture |
5.000 |
0.000 |
|
(Above debentures are issued on 1.10.2013 at the rate of 10% per annum
and redeemable within the period of 2 years as on 30.09.2016) |
|
|
|
From Directors |
117.500 |
311.627 |
|
From Shareholders |
27.500 |
14.237 |
|
Total |
150.000 |
325.863 |
INDEX
OF CHARGES: NO CHARGES EXIST FOR THE COMPANY
FIXED ASSETS
Tangible Assets
- Air
conditioner
- Mobile Phone
- Office
Equipment
- Telephone
System
- Furniture and
Fixture
- Motor Car
- Computer
Intangible Assets
- Computer Software
- Intellectual Property Rights
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.63.64 |
|
|
1 |
Rs.98.27 |
|
Euro |
1 |
Rs.72.37 |
INFORMATION DETAILS
|
Information
Gathered by : |
DIP |
|
|
|
|
Analysis Done by
: |
RSM |
|
|
|
|
Report Prepared
by : |
SUJ |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILITY |
1~10 |
1 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
|
32 |
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.