MIRA INFORM REPORT
|
Report No. : |
328847 |
|
Report Date : |
23.06.2015 |
IDENTIFICATION DETAILS
|
Name : |
SHOP CJ NETWORK PRIVATE LIMITED (w.e.f.19.03.2015) |
|
|
|
|
Formerly Known
As : |
STAR CJ NETWORK INDIA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
6th Floor, Star CJ Plaza, Dr. D. B. Marg, Grant Road (East), Mumbai – 400007,
Maharashtra |
|
Tel. No.: |
91-22-43217000 |
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|
|
|
Country : |
India |
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|
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
01.09.2008 |
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|
|
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Com. Reg. No.: |
11-186380 |
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Capital
Investment / Paid-up Capital : |
Rs. 2251.548
Million |
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|
|
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CIN No.: [Company Identification
No.] |
U72900MH2008PTC186380 |
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|
IEC No.: |
Not Available |
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|
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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|
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PAN No.: [Permanent Account No.] |
AAMCS4905R |
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|
|
|
Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Subject is engaged in the business of wholesale
cash and carry trading in India and broadcasting of non-news and non-current
affairs television channels. |
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|
|
|
No. of Employees
: |
Information declined by the management |
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 |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate track record. It was incorporated in 2008. Shop CJ Network Private Limited (Formerly
known as STAR CJ Network India Private Limited) is a 50:50 joint venture
between the South Korean home shopping major, CJ O Shopping Co. Limited and
the P5 Asia Holding Investments (Mauritius) Limited. Subject is engaged in the business of wholesale cash and carry trading
in India and broadcasting of non-news and non-current affairs television
channels. Profitability of the company is under pressure. There are accumulated
losses recorded by the company. Trade relations are fair. Business is active. Payment terms are
reported to be slow but correct. Subject can be considered for business dealings with some
caution. |
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
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 DECLINED
MANAGEMENT NON-COOPERATIVE
(CONTACT NO.: 91-22-43217106)
LOCATIONS
|
Registered Office : |
6th Floor, Star CJ Plaza, Dr. D. B. Marg, Grant Road
(East), Mumbai – 400007, Maharashtra, India |
|
Tel. No.: |
91-22-43217000/ 43217106 |
|
Fax No.: |
91-22-43217121 |
|
E-Mail : |
|
|
Website : |
DIRECTORS
AS ON 22.09.2014
|
Name : |
Young Keun Kim |
|
Designation : |
Director |
|
Address : |
513-304. Mok-dong, Yangchun-Gu, Seoul, Republic of Korea 158755 |
|
Date of Birth/Age : |
20.02.1966 |
|
Date of Appointment : |
21.06.2011 |
|
DIN No.: |
03415011 |
|
|
|
|
Name : |
Si Yeol Shin |
|
Designation : |
Whole-time director |
|
Address : |
Flat No. 1601, 16th Floor, Sumer Trinity, J.A. Raul Marg,
Prabhadevi, Mumbai – 400025, Maharashtra, India |
|
Date of Birth/Age : |
06.06.1963 |
|
Date of Appointment : |
29.05.2014 |
|
PAN No.: |
EFAPS0105D |
|
DIN No.: |
06500907 |
|
|
|
|
Name : |
Biswajit Anna Subramanian |
|
Designation : |
Additional director |
|
Address : |
2 Shivaji Marg, Westend Green, Rangpuri, New Delhi – 110030, India |
|
Date of Birth/Age : |
19.09.1965 |
|
Date of Appointment : |
11.09.2014 |
|
DIN No.: |
00905348 |
|
|
|
|
Name : |
Gopi Krishna Vaddi |
|
Designation : |
Additional director |
|
Address : |
A-5/1, 1st Floor, Front Portion, Vasant Vihar, New Delhi –
110057, India |
|
Date of Birth/Age : |
26.05.1977 |
|
Date of Appointment : |
11.09.2014 |
|
DIN No.: |
06454495 |
KEY EXECUTIVES
|
Name : |
Mr. Yogesh Sachdeva |
|
Designation : |
Secretary |
|
Address : |
A-303, Rishikesh CHS Limited, Plot No. 29/ 30/ 31, Sector 34, Kamothe,
Navi Mumbai – 410209, Maharashtra, India |
|
Date of Birth/Age : |
11.06.1982 |
|
Date of Appointment : |
13.12.2010 |
|
PAN No.: |
BFYPS3993A |
|
|
|
|
Name : |
Sanjeev Sethi |
|
Designation : |
President and CFO |
|
|
|
|
Name : |
Kawaljeet Pawa |
|
Designation : |
Senior Manager |
|
|
|
|
Name : |
Deepak Dasija |
|
Designation : |
Assistant Vice President |
|
|
|
|
Name : |
Manish Jadav |
|
Designation : |
Senior Manager |
|
|
|
|
Name : |
Sanjeev Trivedi |
|
Designation : |
Chief Manager |
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|
|
|
Name : |
Abhay Sharma |
|
Designation : |
Assistant Vice President |
|
|
|
|
Name : |
Wookyun Shin |
|
Designation : |
President and COO |
|
|
|
|
Name : |
Jin Woo Chung |
|
Designation : |
Head-SCM |
|
|
|
|
Name : |
Sang Wook Jin |
|
Designation : |
Head-IT |
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|
|
|
Name : |
Sang Won Kwag |
|
Designation : |
Head-Marketing |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 22.09.2014
|
Names of Shareholders |
No. of Shares |
Percentage of Holding |
|
P5 Asia Holding Investments (Mauritius) Limited, Mauritius |
133665952 |
50.00 |
|
CJ O Shopping Company Limited, Korea |
133665952 |
50.00 |
|
|
|
|
|
Total |
267331904 |
100.00 |
AS ON 22.09.2014
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
100.00 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in the business of wholesale cash
and carry trading in India and broadcasting of non-news and non-current
affairs television channels. |
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Products : |
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Brand Names : |
-- |
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Agencies Held : |
-- |
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Exports : |
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Products : |
Not Divulged |
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Countries : |
Not Divulged |
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Imports : |
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Products : |
Not Divulged |
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Countries : |
Not Divulged |
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Terms : |
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Selling : |
Not Divulged |
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Purchasing : |
Not Divulged |
PRODUCTION STATUS: NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
Information declined by the management |
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Bankers : |
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Facilities : |
-- |
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Banking
Relations : |
-- |
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Auditors : |
|
|
Name : |
Deloitte Haskins and Sells Chartered Accountants |
|
Address : |
Mumbai, Maharashtra, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AACFD4815A |
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Memberships : |
-- |
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Collaborators : |
-- |
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Joint venture : |
· CJ O Shopping Company Limited · Start HS Limited |
CAPITAL STRUCTURE
AFTER 22.09.2014
Authorised Capital : Rs. 3510.000 Million
Issued, Subscribed & Paid-up Capital : Rs. 3242.355
Million
AS ON 22.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
351,000,000 |
Equity Shares |
Rs. 10/- each |
Rs. 3510.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
267,331,904 |
Equity Shares |
Rs. 10/- each |
Rs. 2673.319
Million |
|
|
|
|
|
AS ON 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
251,000,000 |
Equity Shares |
Rs. 10/- each |
Rs. 2510.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
225,154,800 |
Equity Shares |
Rs. 10/- each |
Rs. 2251.548
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 |
2251.548 |
2040.642 |
1712.809 |
|
(b) Reserves & Surplus |
(2181.647) |
(1946.836) |
(1566.664) |
|
(c) Money received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share
Application money pending allotment |
0.000 |
0.001 |
243.850 |
|
Total
Shareholders’ Funds (1) + (2) |
69.901 |
93.807 |
389.995 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
15.117 |
|
(c)
Other long term liabilities |
0.000 |
0.000 |
0.000 |
|
(d)
long-term provisions |
21.851 |
21.662 |
19.267 |
|
Total
Non-current Liabilities (3) |
21.851 |
21.662 |
34.384 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
(b)
Trade payables |
1173.869 |
890.898 |
701.275 |
|
(c)
Other current liabilities |
110.361 |
66.672 |
55.258 |
|
(d)
Short-term provisions |
3.588 |
2.095 |
2.194 |
|
Total
Current Liabilities (4) |
1287.818 |
959.665 |
758.727 |
|
|
|
|
|
|
TOTAL |
1379.570 |
1075.134 |
1183.106 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
75.607 |
96.737 |
142.069 |
|
(ii)
Intangible Assets |
28.119 |
45.903 |
68.907 |
|
(iii)
Capital work-in-progress |
3.335 |
0.000 |
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 |
112.673 |
48.138 |
42.972 |
|
(e)
Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
219.734 |
190.778 |
253.948 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
481.351 |
373.156 |
316.248 |
|
(c)
Trade receivables |
267.150 |
298.129 |
273.268 |
|
(d)
Cash and cash equivalents |
284.644 |
93.202 |
224.048 |
|
(e)
Short-term loans and advances |
126.419 |
119.854 |
113.984 |
|
(f)
Other current assets |
0.272 |
0.015 |
1.610 |
|
Total
Current Assets |
1159.836 |
884.356 |
929.158 |
|
|
|
|
|
|
TOTAL |
1379.570 |
1075.134 |
1183.106 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
|
|
|
|
|
|
|
TOTAL REVENUE |
5104.670 |
3412.495 |
2393.477 |
|
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
NA
|
NA
|
NA
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
Less |
TAX |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
(358.212) |
(605.882) |
(1180.547) |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’
BALANCE BROUGHT FORWARD |
(3389.177) |
(2783.295) |
(1602.748) |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
(3747.389) |
(3389.177) |
(2783.295) |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
1.163 |
9.527 |
0.000 |
|
|
|
|
|
|
|
|
|
Earnings/ (Loss)
Per Share (Rs.) |
(1.59) |
(3.22) |
(8.22) |
|
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 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.90 |
0.92 |
1.22 |
Total Liability = Short-term Debt + Long-term Debt + Current Maturities
of Long-term debts
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 |
1712.809 |
2040.642 |
2251.548 |
|
Reserves & Surplus |
(1566.664) |
(1946.836) |
(2181.647) |
|
Money received against share warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money pending allotment |
0.000 |
0.001 |
243.850 |
|
Net
worth |
146.145 |
93.807 |
313.751 |
|
|
|
|
|
|
Long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
CURRENT MATURITIES OF LONG-TERM DEBTS |
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 Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Total Revenue |
2393.477 |
3412.495 |
5104.670 |
|
|
|
42.575 |
49.588 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Total Revenue |
2393.477 |
3412.495 |
5104.670 |
|
Profit/ (Loss) |
(1180.547) |
(605.882) |
(358.212) |
|
|
(49.32%) |
(17.75%) |
(7.02%) |
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 |
No |
|
8 |
Designation of contact person |
No |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
Yes |
|
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 |
No |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
No |
|
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 |
No |
|
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: NO CHARGES
EXIST FOR COMPANY
CORPORATE
INFORMATION
The Company is a 50:50 Joint Venture between STAR HS Limited, Mauritius
and CJ O Shopping Company Limited, South Korea. The Company is engaged in the business
of wholesale cash and carry trading in India and broadcasting of non-news and
non-current affairs television channels.
FINANCIAL AND
BUSINESS UPDATE
The Company has achieved Rs. 5100.000 Million as total revenue as against
Rs. 3410.000 Million during the previous year, representing 50% year-on-year
growth. Loss during the period was Rs. 360.000 Million as against Rs. 610.000
Million in the previous financial year, representing 40% reduction in losses
accumulated by the Company during the period. The working capital position has
improved, mainly driven by expansion in credit terms with its suppliers.
As new business initiatives, the Company extended its television
platform under channel “STAR CJ alive” on Airtel DTH on pan India basis, Siti
Cable for West Bengal region, and in the form of dual frequency on Fastway
Punjab in Punjabi language, to facilitate increase of customer base for the
Franchisees of the Company.
The Company’s new warehouse at Bangalore started operations in the month
of July 2013 leading to drastic reduction in delivery time for orders from
South India region and associated freight cost for the Franchisees of the
Company. The Company also engaged newer delivery partners for facilitating its
Franchisees to delivery their products to their customer in South India region,
the States of Assam, Jharkhand, Orissa and Bihar.
In November 2013, the Company launched a full-fledged IVR (Interactive
Voice Response) facility for facilitating order placement on its Franchisees.
This has improved the Company’s services to its Franchisees who now can receive
orders even during odd hours of the day with minimal call drop during peak
hours.
The Company is looking forward to an exciting year ahead with improved
business sentiment and high growth potential of the market.
FIXED ASSETS:
·
Plant and equipment
·
Factory equipments
·
Furniture and fixtures
·
Vehicles
·
Office equipment
·
Computer equipments
·
Other equipments
·
Leasehold improvements
· 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,
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. 63.51 |
|
|
1 |
Rs. 100.94 |
|
Euro |
1 |
Rs. 72.32 |
INFORMATION DETAILS
|
Information
Gathered by : |
GYT |
|
|
|
|
Analysis Done by
: |
SAN |
|
|
|
|
Report Prepared
by : |
BVA |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
2 |
|
--CREDIT LINES |
1~10 |
4 |
|
--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 |
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.