MIRA INFORM REPORT
|
Report No. : |
320526 |
|
Report Date : |
05.05.2015 |
IDENTIFICATION DETAILS
|
Name : |
JOSEPH LESLIE AND COMPANY LLP |
|
|
|
|
Registered
Office : |
3rd Floor, Leslico
House 87, CBS Road, Dadar (West), Mumbai-400028, Maharashtra |
|
Tel. No.: |
91-22-24221878 |
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|
|
Country : |
India |
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|
Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
07.01.2011 |
|
|
|
|
Total Obligation
of Contribution : |
Rs. 1.500 Million |
|
|
|
|
LLPIN: |
AAA-3344 |
|
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|
|
IEC No.: |
Not Available |
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|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
Not Available |
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|
Legal Form : |
Limited Liability Partnership |
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|
Line of Business
: |
Proposed activities will be of safety engineers, manufacturer,
importer and exporter, general merchant and commission agent in industrial
safety appliances and equipment such as chemical protective clothing, eye
wash, safety showers, chemical splash goggles welding helmet, welding hand
shields, firefighting nozzles, hand gloves, breathing apparatus and full body
harness. |
|
|
|
|
No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
B (27) |
|
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 |
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Comments : |
Subject is an established Limited Liability concern having moderate
track record. Turnover of the subject has declined which has resulted a heavy loss
during FY2014 However, trade relations are reported as fair. Business is active. Payments
terms are reported to be slow but correct. The Limited Liability Partnership concern 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 |
ICRA |
|
Rating |
Long term “B+” |
|
Rating Explanation |
High risk of default |
|
Date |
April 2015 |
|
Rating Agency Name |
ICRA |
|
Rating |
Short term “A4” |
|
Rating Explanation |
Minimal degree of safety and carry very high credit risk. |
|
Date |
April 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
31-03-2014.
INFORMATION DECLINED
Management non-cooperative (91-22-24221878)
LOCATIONS
|
Registered Office : |
3rd Floor, Leslico
House 87, CBS Road, Dadar (West), Mumbai-400028, Maharashtra, India |
|
Tel. No.: |
91-22-24227587/24221878/24227198 |
|
Fax No.: |
91-22-24306044 |
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E-Mail : |
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Regional Office: |
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Kolkata: |
12-F, Everest House, 46-C, Jawaharlal Nehru Road, Kolkata-700 071, India |
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Tel. No.: |
91-33-22883107, 22882467 |
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Fax No.: |
91-33-22889644 |
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E-Mail : |
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Delhi: |
Office No.701, 95, Vishal Bhavan, Nehru Place, New Delhi-110 019, India |
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Tel. No.: |
91-11-41808301, 41808302, 41808303 |
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Fax No.: |
91-11-41808300 |
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E-Mail : |
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Chennai: |
2nd Floor, No. 6/3, Avenue Road, Nungambakkam, Chennai – 600 034, Tamilnadu, India |
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|
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Tel. No.: |
91-44-645 28070, 4214 6053, 4202 8455 |
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Fax No.: |
91-44-28250289 |
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E-Mail : |
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Gujarat: |
No. 604-605, 6th Floor, World Trade Centre, Sayajigunj, Vadodara – 390 005, Gujarat, India |
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Tel. No.: |
91 265 222 2078 |
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E-Mail : |
PARTNERS
As on 31.03.2014
|
Name : |
Wendy Leslie Pereira |
|
Designation : |
Designated Partner |
|
Address : |
Rays, 3rd Floor, T.P.S IV, 1st Road, Bandra (West), Mumbai-400050, Maharashtra, India |
|
Date of Birth/Age : |
18.02.1948 |
|
Date of Appointment : |
07.01.2011 |
|
DPIN No.: |
5005341 |
|
PAN No.: |
ACWPP6401C |
|
|
|
|
Name : |
Carole Leslie Roy |
|
Designation : |
Designated Partner |
|
Address : |
301/302, West Wind, H. K. Bhabha Road, Bandra ( West ), Mumbai-400050, Maharashtra, India |
|
Date of Birth/Age : |
31.05.1944 |
|
Date of Appointment : |
07.01.2011 |
|
DPIN No.: |
5005457 |
|
PAN No.: |
ADNPR1798N |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 31.03.2014
|
Name of Persons |
|
Obligation of
Contribution (Rs. In Millions) |
|
Wendy Leslie Pereira |
|
0.750 |
|
Carole Leslie Roy |
|
0.750 |
|
Total |
|
1.500 |
BUSINESS DETAILS
|
Line of Business : |
Proposed activities will be of safety engineers, manufacturer,
importer and exporter, general merchant and commission agent in industrial
safety appliances and equipment such as chemical protective clothing, eye wash,
safety showers, chemical splash goggles welding helmet, welding hand shields,
firefighting nozzles, hand gloves, breathing apparatus and full body harness. |
|
|
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Products : |
Not Available |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
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Selling : |
Not Divulged |
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Purchasing : |
Not Divulged |
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 : |
Not Divulged |
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Auditors : |
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|
Name : |
Ketan C. Damani Chartered Accountant |
|
Address : |
519 Milan Industrial Estate, Mumbai-400033, Maharashtra, India |
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E-Mail : |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Associates/Subsidiaries : |
Not Available |
CAPITAL STRUCTURE
As on 31.03.2014
Total obligation Fund : Rs.1.500 Million
FINANCIAL DATA
[all figures are in
Rupees Million]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Contribution Received |
1.500 |
0.100 |
0.100 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
(2.400) |
4.429 |
4.196 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
5] Partner’s Current Accounts |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
(0.900) |
4.529 |
4.296 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
46.292 |
45.290 |
47.038 |
|
|
2] Unsecured Loans |
39.689 |
32.014 |
30.014 |
|
|
TOTAL BORROWING |
85.981 |
77.304 |
77.052 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
85.081 |
81.833 |
81.348 |
|
|
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|
|
|
|
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APPLICATION OF FUNDS |
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|
|
|
|
|
|
|
|
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|
FIXED ASSETS [Net Block] |
14.574 |
16.169 |
17.611 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.025 |
0.025 |
0.025 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
34.735
|
32.435 |
23.471 |
|
|
Sundry Debtors |
38.726
|
35.292 |
43.548 |
|
|
Cash & Bank Balances |
5.222
|
4.708 |
5.183 |
|
|
Other Current Assets |
7.453
|
11.491 |
9.066 |
|
|
Loans & Advances |
10.030
|
3.950 |
1.641 |
|
Total
Current Assets |
96.166
|
87.876 |
82.909 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
21.053
|
19.016 |
15.429 |
|
|
Other Current Liabilities |
4.631
|
3.171 |
2.698 |
|
|
Provisions for taxations |
0.000 |
0.050 |
1.070 |
|
Total
Current Liabilities |
25.684
|
22.237 |
19.197 |
|
|
Net Current Assets |
70.482
|
65.639 |
63.712 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
85.081 |
81.833 |
81.348 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
138.028 |
158.549 |
155.662 |
|
|
|
Other Income |
2.185 |
2.636 |
2.374 |
|
|
|
TOTAL (A) |
140.213 |
161.185 |
158.036 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Raw Materials Consumed |
92.169 |
111.941 |
101.023 |
|
|
|
Increase/ (decrease) in stocks (Raw Materials, work-in-progress and
Stock-in-Trade |
(2.299) |
(8.964) |
0.959 |
|
|
|
Other Expenses |
51.700 |
48.082 |
41.884 |
|
|
|
TOTAL (B) |
141.570 |
151.059 |
143.866 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
(1.357) |
10.126 |
14.170 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
2.469 |
2.709 |
7.076 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
(3.826) |
7.417 |
7.094 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
5.956 |
7.223 |
2.982 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX (E-F) (G) |
(9.782) |
0.194 |
4.112 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
0.092 |
(0.039) |
1.056 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX (G-H) (I) |
(9.874) |
0.233 |
3.056 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
(6.58) |
0.23 |
3.06 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
(7.15) |
0.15 |
1.96 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/Sales) |
(%) |
(0.98) |
6.39 |
9.10 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(8.83) |
0.19 |
4.09 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
10.87 |
0.04 |
0.96 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
(95.53) |
17.07 |
17.94 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.47 |
1.62 |
1.69 |
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) |
|
Contribution Received |
0.100 |
0.100 |
1.500 |
|
Reserves & Surplus |
4.196 |
4.429 |
(2.400) |
|
Net
worth |
4.296 |
4.529 |
(0.900) |
|
|
|
|
|
|
Secured Loans |
47.038 |
45.290 |
46.292 |
|
Unsecured Loans |
30.014 |
32.014 |
39.689 |
|
Total
borrowings |
77.052 |
77.304 |
85.981 |
|
Debt/Equity
ratio |
17.936 |
17.069 |
(95.534) |
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 |
155.662 |
158.549 |
138.028 |
|
|
|
1.855 |
(12.943) |
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 |
155.662 |
158.549 |
138.028 |
|
Profit |
3.056 |
0.233 |
(9.874) |
|
|
1.96% |
0.15% |
(7.15%) |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info
Agents |
Available in Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
No |
|
9] |
Name of person contacted |
No |
|
10] |
Designation of contact person |
No |
|
11] |
Turnover of firm for last three years |
Yes |
|
12] |
Profitability for last three years |
Yes |
|
13] |
Reasons for variation <> 20% |
---------------------- |
|
14] |
Estimation for coming financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister concerns |
No |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details (if applicable) |
No |
|
21] |
Market information |
---------------------- |
|
22] |
Litigations that the firm / promoter involved in |
---------------------- |
|
23] |
Banking Details |
No |
|
24] |
Banking facility details |
No |
|
25] |
Conduct of the banking account |
---------------------- |
|
26] |
Buyer visit details |
---------------------- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if applicable |
Yes |
|
29] |
Last accounts filed at ROC |
Yes |
|
30] |
Major Shareholders, if available |
Yes |
|
31] |
Date of Birth of Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of Proprietor/Partner/Director, if available |
Yes |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
Yes |
INDEX OF CHARGES: NO
CHARGES EXIST FOR THE COMPANY
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.63.58 |
|
|
1 |
Rs.97.99 |
|
Euro |
1 |
Rs.70.53 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
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|
Report Prepared
by : |
JYTK |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
2 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER
|
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
27 |
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.