MIRA INFORM REPORT
|
Report No. : |
328334 |
|
Report Date : |
25.06.2015 |
IDENTIFICATION DETAILS
|
Name : |
KHUSHI FOODS LIMITED (w.e.f.23.12.2011) |
|
|
|
|
Formerly Known
As : |
KHUSHI FOODS PRIVATE LIMITED |
|
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|
Registered
Office : |
808, Parswanath Business Park, Sur No. 836, F.P. No. 1/2, Nera Auda
Garden, Prahlad Bagar, Ahmedabad – 380051, Gujarat |
|
Mobile. No.: |
91-9408709731 |
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|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
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Date of Incorporation
: |
05.03.2008 |
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|
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Com. Reg. No.: |
04-053160 |
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Capital
Investment / Paid-up Capital : |
Rs.18.460 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U15139GJ2008PLC053160 |
|
|
|
|
TAN No.: [Tax Deduction & Collection
Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AADCK3104F |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Manufacturing and Exporting of a wide range of dehydrated, Vegetables,
Dry Fruits, Agriculture Commodities, Chill products, Turmeric products,
Herbs, other Spices and Chemicals. |
|
|
|
|
No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
B (30) |
|
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 |
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|
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate track record. The rating is constrained on account of company’s low networth base, low
profitability, leveraged capital structure along with weak debt indicator and
working capital intensive nature of business. However, trade relations are fair. Business is active. Payments are
reported to be slow but correct. The company 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
|
Rating Agency Name |
CARE |
|
Rating |
Long-term Bank Facilities B+ |
|
Rating Explanation |
Risk-prone-credit-quality and carries very
high credit risk |
|
Date |
May 12, 2014 |
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 DENIED BY
|
Name : |
Mr. D.P. Sharma |
|
Designation : |
Chief Operating Officer |
|
Contact No.: |
91-9408709731 |
|
Date : |
20.06.2015 |
LOCATIONS
|
Registered Office / Corporate Office : |
808, Parswanath Business Park, Sur No. 836, F.P. No. 1/2, Nera Auda
Garden, Prahlad Bagar, Ahmedabad – 380051, Gujarat, India |
|
Tel. No.: |
91-79-26403797 / 98 / 91-79-26401061 |
|
Mobile No.: |
91-9408709731 (Mr. D.P. Sharma) |
|
Fax No.: |
91-79-40021967 |
|
E-Mail : |
DIRECTORS
As on 19.08.2014
|
Name : |
Ms. Jyoti Rajendra Sharma |
|
Designation : |
Whole-time Director |
|
Address : |
No. 103, Land Mark, Waghwadi Road, Bhavnagar – 364002, Gujarat, India |
|
Date of Birth/Age : |
14.06.1969 |
|
Date of Appointment : |
29.10.2010 |
|
DIN No.: |
01816082 |
|
|
|
|
Name : |
Mr. Rajendra Babadin Sharma |
|
Designation : |
Managing Director |
|
Address : |
A-3/202, Pacifica Green Acre, Vijalpur, Ahmedabad – 380051, Gujrata,
India |
|
Date of Birth/Age : |
02.07.1970 |
|
Date of Appointment : |
08.06.2010 |
|
DIN No.: |
01849943 |
|
|
|
|
Name : |
Mr. Jagdish Omprakash Sharma |
|
Designation : |
Additional Director |
|
Address : |
Khushi Foods Limited, 310, Dheeraj Avenue, Near – JMC House, Ahmedabad
– 380006, India |
|
Date of Birth/Age : |
16.10.1983 |
|
Date of Appointment : |
18.11.2009 |
|
DIN No.: |
02835127 |
KEY EXECUTIVES
|
Name : |
Mr. D.P. Sharma |
|
Designation : |
Chief Operating Officer |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 19.08.2014
SHAREHOLDER DETAIL FILE ATTACHED
Equity Share Break up (Percentage of Total Equity)
As on : 19.08.2014
|
Category |
Percentage |
|
Directors or relatives of Directors |
84.00 |
|
Other top fifty shareholders |
16.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing and Exporting of a wide range of dehydrated, Vegetables,
Dry Fruits, Agriculture Commodities, Chill products, Turmeric products,
Herbs, other Spices and Chemicals. |
|
|
|
|
Products : |
|
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|
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Brand Names : |
Not Divulged |
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Agencies Held : |
Not Divulged |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
Not Divulged |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
|
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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Auditors : |
|
|
Name : |
Rajendra Saini and Company Chartered Accountants |
|
Address : |
10-11, 2nd Floor, Satyam Complex, Abadnagar Bus Stop, Near
Bopal Cross Road, Bopal, Ahmedabad – 380058, Gujarat, India |
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E-Mail : |
|
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PAN N Income-tax PAN of auditor or auditor's firm : |
AKYPS8794D |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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|
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Associates/Subsidiaries : |
Not Available |
CAPITAL STRUCTURE
As on 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3500000 |
Equity Shares |
Rs.10/- each |
Rs.35.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1846010 |
Equity Shares |
Rs.10/- each |
Rs.18.460
Million |
|
|
|
|
|
As on 19.08.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3500000 |
Equity Shares |
Rs.10/- each |
Rs.35.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3866010 |
Equity Shares |
Rs.10/- each |
Rs.38.660
Million |
|
|
|
|
|
As on 19.08.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3500000 |
Equity Shares |
Rs.10/- each |
Rs.35.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3066010 |
Equity Shares |
Rs.10/- each |
Rs.30.660
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 |
18.460 |
18.310 |
15.000 |
|
(b) Reserves & Surplus |
4.621 |
2.954 |
2.750 |
|
(c) Money received against
share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money
pending allotment |
20.400 |
0.150 |
2.360 |
|
Total
Shareholders’ Funds (1) + (2) |
43.481 |
21.414 |
20.110 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
56.943 |
14.905 |
6.856 |
|
(b) Deferred tax liabilities
(Net) |
0.240 |
0.601 |
0.162 |
|
(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) |
57.183 |
15.506 |
7.018 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
61.728 |
39.568 |
29.490 |
|
(b) Trade payables |
48.261 |
11.911 |
19.600 |
|
(c) Other current liabilities |
8.599 |
6.488 |
5.510 |
|
(d) Short-term provisions |
0.743 |
0.303 |
0.826 |
|
Total
Current Liabilities (4) |
119.331 |
58.270 |
55.426 |
|
|
|
|
|
|
TOTAL |
219.995 |
95.190 |
82.554 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
32.809 |
8.640 |
7.656 |
|
(ii) Intangible Assets |
19.336 |
10.970 |
0.000 |
|
(iii) Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
(iv) Intangible assets under
development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.283 |
0.283 |
0.283 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
8.528 |
0.536 |
0.278 |
|
(e) Other Non-current assets |
0.150 |
0.130 |
0.146 |
|
Total
Non-Current Assets |
61.106 |
20.559 |
8.363 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
53.920 |
28.953 |
27.711 |
|
(c) Trade receivables |
89.343 |
38.939 |
43.539 |
|
(d) Cash and cash equivalents |
11.786 |
2.062 |
0.322 |
|
(e) Short-term loans and
advances |
3.481 |
4.538 |
2.561 |
|
(f) Other current assets |
0.359 |
0.139 |
0.058 |
|
Total
Current Assets |
158.889 |
74.631 |
74.191 |
|
|
|
|
|
|
TOTAL |
219.995 |
95.190 |
82.554 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Revenue from Operations |
340.096 |
245.032 |
227.931 |
|
|
Other Income |
4.056 |
0.110 |
0.269 |
|
|
Change in Inventory |
24.967 |
1.243 |
12.863 |
|
|
TOTAL
(A) |
369.119 |
246.385 |
241.063 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Purchases of Stock-in-Trade |
292.265 |
210.828 |
210.659 |
|
|
Direct Expenses |
7.514 |
4.889 |
7.011 |
|
|
Employees benefits expense |
14.401 |
4.901 |
3.260 |
|
|
Extraordinary and Exceptional
Items |
0.022 |
0.095 |
0.058 |
|
|
Other expenses |
39.189 |
17.364 |
14.099 |
|
|
TOTAL
(B) |
353.391 |
238.077 |
235.087 |
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (C) |
15.728 |
8.308 |
5.976 |
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
11.833 |
6.069 |
3.588 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
3.895 |
2.239 |
2.388 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION (F) |
2.296 |
1.443 |
0.326 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX (E-F) (G) |
1.599 |
0.796 |
2.062 |
|
|
|
|
|
|
|
Less |
TAX (H) |
-0.068 |
0.592 |
0.651 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX (G-H) (I) |
1.667 |
0.204 |
1.411 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
0.9 |
0.11 |
0.94 |
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) |
(%) |
0.49 |
0.08 |
0.62 |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
4.62 |
3.39 |
2.62 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.73 |
0.84 |
2.51 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.04 |
0.04 |
0.10 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
2.73 |
2.54 |
1.81 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.33 |
1.28 |
1.34 |
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 |
15.000 |
18.310 |
18.460 |
|
Reserves & Surplus |
2.750 |
2.954 |
4.621 |
|
Share Application money pending allotment |
2.360 |
0.150 |
20.400 |
|
Net
worth |
20.110 |
21.414 |
43.481 |
|
|
|
|
|
|
long-term borrowings |
6.856 |
14.905 |
56.943 |
|
Short term borrowings |
29.490 |
39.568 |
61.728 |
|
Total
borrowings |
36.346 |
54.473 |
118.671 |
|
Debt/Equity
ratio |
1.807 |
2.544 |
2.729 |
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 |
227.931 |
245.032 |
340.096 |
|
|
|
7.503 |
38.797 |
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 |
227.931 |
245.032 |
340.096 |
|
Profit |
1.411 |
0.204 |
1.667 |
|
|
0.62% |
0.08% |
0.49% |
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) |
No |
|
16 |
No. of employees |
No |
|
17 |
Details of sister concerns |
No |
|
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 |
NOTE: Registered office of the company has been shifted from 310, Dhiraj Avenue, Opp. Chadavad Poloce Chowky, Ambawadi, Ahmedabad – 380015, Gujarat, India to the present address w.e.f. 13.01.2012
UNSECURED LOAN
|
Unsecured Loan |
31.03.2014 (Rs.
in Million) |
31.03.2013 (Rs.
in Million) |
|
Long-term
Borrowings |
|
|
|
Term loan from others |
6.634 |
6.308 |
|
Deferred payment liabilities |
1.751 |
3.450 |
|
Loans and Advances from related parties |
0.300 |
0.300 |
|
Loans and Advances from promoters
|
33.161 |
0.000 |
|
|
|
|
|
Total |
41.846 |
10.058 |
INDEX
OF CHARGES
|
S.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10364707 |
06/02/2014 * |
79,140,000.00 |
UNION BANK OF INDIA |
VASTRAPUR BRANCH, AMBAWADI, AHMEDABAD, Gujarat - |
B97403026 |
|
2 |
10333452 |
11/01/2012 |
2,985,000.00 |
UNION BANK OF INDIA |
VASTRAPUR BRANCH, AMBAWADI, AHMEDABAD, Gujarat - |
B31181902 |
|
3 |
10307739 |
06/02/2014 * |
79,140,000.00 |
UNION BANK OF INDIA |
VASTRAPUR BRANCH, AMBAWADI, AHMEDABAD, Gujarat - |
B97405393 |
|
4 |
10302094 |
14/12/2011 * |
20,000,000.00 |
UNION BANK OF INDIA |
VASTRAPUR BRANCH, AMBAWADI, AHMEDABAD, Gujarat - |
B31183247 |
FIXED ASSETS
- Plant and
Machinery
- Motor Car –
Corolla
- Motor Car –
Micro
- Air
Conditioner
- Computer
Systems
- Furniture and
Fixture
- Godown
- Mobile
- Printer
- Water
Dispenser
- Fire Extinguisher
- Refrigerator
- New Godown
Mahuwa
- New Office –
Parahwana
- Office
Equipment
- TV Plazma
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.63.61 |
|
|
1 |
Rs.99.79 |
|
Euro |
1 |
Rs.71.16 |
INFORMATION DETAILS
|
Information
Gathered by : |
GYT |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
SUJ |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILITY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
30 |
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.