MIRA INFORM REPORT
|
Report No. : |
321512 |
|
Report Date : |
09.05.2015 |
IDENTIFICATION DETAILS
|
Name : |
FARIDA SHOES PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
151/4, |
|
Tel. No.: |
91-44 22521515 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
24.09.1976 |
|
|
|
|
Com. Reg. No.: |
18-007207 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs. 8.766 million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U19119TN1976PTC007207 |
|
|
|
|
IEC No.: |
Not Available |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
CHEF00075F |
|
|
|
|
PAN No.: [Permanent Account No.] |
Not Available |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject is engaged in the manufacturer and export of
leather footwear and other accessories. |
|
|
|
|
No. of Employees
: |
Not Divulged |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (44) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 1100000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Exist |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track. Trade relations are fair. Business is active. Payment terms are
reported as slow but correct. In view of experienced promoters, the company can be considered for
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 |
ICRA |
|
Rating |
Long term loans “BB+” |
|
Rating Explanation |
Moderate risk of default regarding timely servicing of financial
obligations. |
|
Date |
May 2014 |
|
Rating Agency Name |
ICRA |
|
Rating |
Short term fund based “A4+” |
|
Rating Explanation |
Minimal degree of safety and very high credit risk |
|
Date |
May 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
31-03-2014.
INFORMATION DENIED BY
|
Name : |
Mr. Krishna Kumar |
|
Designation : |
Finance Head |
|
Contact No.: |
91-44-45921500 |
|
Date : |
06.05.2015 |
LOCATIONS
|
Registered Office : |
151/4, |
|
Tel. No.: |
91-44 22521515 |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
|
|
|
Factory : |
37, |
DIRECTORS
As on 31.03.2014
|
Name : |
Mr. Rafeeque Ahmed Mecca |
|
Designation : |
Managing Director |
|
Address : |
10, |
|
Date of Birth/Age : |
17.09.1947 |
|
Date of Appointment : |
01.01.2000 |
|
DIN No.: |
0013749 |
|
|
|
|
Name : |
Mr. Irshad Ahmed Mecca |
|
Designation : |
Director |
|
Address : |
10, |
|
Date of Birth/Age : |
17.08.1968 |
|
Date of Appointment : |
01.01.200 |
|
DIN No.: |
00013774 |
|
|
|
|
Name : |
Mr. Ashfaque Ahmed Mecca |
|
Designation : |
Director |
|
Address : |
10, |
|
Date of Birth/Age : |
04.05.1973 |
|
Date of Appointment : |
01.01.2000 |
|
DIN No.: |
00013807 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 01.08.2014
|
Names of Shareholders |
|
No. of Shares |
|
M
Rafeeque Ahmed |
|
125 |
|
M
Israr Ahmed |
|
35 |
|
M
Irshad Ahmed |
|
175 |
|
M
Rasheed Ahmed |
|
50 |
|
Farida
Holdings Private Limited |
|
50,365 |
|
Farida
Classic Shoes Private Limited |
|
36,910 |
|
Total |
|
87,660 |
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Bodies corporate |
99.56 |
|
Directors or relatives of Directors |
0.44 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in the manufacturer and export of
leather footwear and other accessories. |
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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 : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
|
||||||
|
Selling : |
Not Divulged |
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|
||||||
|
Purchasing : |
Not Divulged |
PRODUCTION STATUS NOT AVIALBLE
GENERAL INFORMATION
|
Suppliers : |
|
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Customers : |
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No. of Employees : |
Not Divulged |
||||||||||||
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|
|
||||||||||||
|
Bankers : |
Not Divulged |
||||||||||||
|
|
|
||||||||||||
|
Facilities : |
(Rs.
In Million)
|
|
Auditors : |
|
|
Name : |
Akber Rifa and Company Chartered Accountants |
|
Address : |
Flat No.1a, The Kermite KP Apartments, Door No.1, V Block, 6th Main Road, Anna Nagar, Chennai 600040, Tamilnadu, India |
|
PAN No.: |
AAUFA5645D |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Holding Company : |
Farida Holdings Private Limited CIN No.: U65993TN1985PTC011781 |
|
|
|
|
Associates : |
CIN No. : U19200TN2008PTC067408
CIN No. : U19201TN2004PTC053703
CIN No. : U18209TN1987PTC014919
CIN No.: U18209TN1981PTC008805
CIN No.: U18209TN1992PTC022111
CIN No.: U19112TN2006PTC058989
CIN No.: U19112TN2005PTC055152
CIN No.:
U19201KA2001PTC029147
CIN No.: U19201TN2005PTC055925
CIN No.:U19201TN1998PTC040339
CIN No.:U22121TN1994PTC029120 |
CAPITAL STRUCTURE
As on 01.08.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
270,000 |
Equity Shares |
Rs.100/- each |
Rs.27.000 million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
87,660 |
Equity Shares |
Rs.100/-
each |
Rs.8.766
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 |
8.766 |
8.766 |
8.766 |
|
(b) Reserves & Surplus |
388.086 |
318.745 |
278.641 |
|
(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) |
396.852 |
327.511 |
287.407 |
|
|
|
|
|
|
(3) Deferred Government Grants |
0.000 |
0.000 |
21.300 |
|
|
|
|
|
|
(4) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
36.716 |
72.624 |
136.795 |
|
(b) Deferred tax liabilities
(Net) |
22.396 |
21.873 |
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) |
59.112 |
94.497 |
136.795 |
|
|
|
|
|
|
(5) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
619.876 |
763.799 |
734.741 |
|
(b) Trade payables |
398.428 |
453.999 |
482.744 |
|
(c) Other current liabilities |
2.638 |
5.083 |
4.045 |
|
(d) Short-term provisions |
48.926 |
36.017 |
49.065 |
|
Total
Current Liabilities (4) |
1069.868 |
1258.898 |
1270.595 |
|
|
|
|
|
|
TOTAL |
1525.832 |
1680.906 |
1716.097 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
267.979 |
271.346 |
294.466 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
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 |
82.845 |
87.983 |
88.750 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
1.287 |
2.130 |
2.859 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
352.111 |
361.459 |
386.075 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
1.550 |
1.550 |
1.550 |
|
(b) Inventories |
533.780 |
724.955 |
758.762 |
|
(c) Trade receivables |
198.779 |
207.946 |
171.509 |
|
(d) Cash and cash equivalents |
11.771 |
8.781 |
8.661 |
|
(e) Short-term loans and
advances |
295.444 |
255.752 |
323.252 |
|
(f) Other current assets |
132.397 |
120.463 |
66.288 |
|
Total
Current Assets |
1173.721 |
1319.447 |
1330.022 |
|
|
|
|
|
|
TOTAL |
1525.832 |
1680.906 |
1716.097 |
PROFIT & LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
3251.346 |
2165.090 |
2239.253 |
|
|
|
Other Income |
408.237 |
320.684 |
247.203 |
|
|
|
TOTAL |
3659.583 |
2485.774 |
2486.456 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
3569.433 |
2431.331 |
2447.181 |
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
90.150 |
54.443 |
39.275 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
20.809 |
14.339 |
8.258 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
69.341 |
40.104 |
31.017 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Sales |
3101.792 |
2005.572 |
0.000 |
|
|
TOTAL EARNINGS |
3101.792 |
2005.572 |
0.000 |
|
|
|
|
|
|
|
|
|
|
Earnings Per Share
(Rs.) |
791.02 |
457.49 |
353.83 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
2.13 |
1.85 |
1.39 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
6.25 |
3.42 |
2.41 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.23 |
0.17 |
0.14 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
1.65 |
2.55 |
3.03 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.10 |
1.05 |
1.05 |
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 |
8.766 |
8.766 |
8.766 |
|
Reserves & Surplus |
278.641 |
318.745 |
388.086 |
|
Net
worth |
287.407 |
327.511 |
396.852 |
|
|
|
|
|
|
long-term borrowings |
136.795 |
72.624 |
36.716 |
|
Short term borrowings |
734.741 |
763.799 |
619.876 |
|
Total
borrowings |
871.536 |
836.423 |
656.592 |
|
Debt/Equity
ratio |
3.032 |
2.554 |
1.655 |
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 |
2239.253 |
2165.090 |
3251.346 |
|
|
|
(3.312) |
50.171 |
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 |
2239.253 |
2165.090 |
3251.346 |
|
Profit |
31.017 |
40.104 |
69.341 |
|
|
1.39% |
1.85% |
2.13% |
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 |
Yes |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
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 |
No |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
Yes |
(Rs.
In Million)
|
UNSECURED LOAN |
As
on 31.03.2014 |
As
on 31.03.2013 |
|
Long Term
Borrowing |
|
|
|
Term loans from others |
34.016 |
0.000 |
|
Deposits |
0.000 |
43.966 |
|
Loans and advances from related parties |
0.000 |
0.007 |
|
Other loans and advances |
0.223 |
0.000 |
|
|
|
|
|
Short Term
Borrowing |
|
|
|
Rupee term loans from banks |
619.876 |
763.799 |
|
Total |
654.115 |
807.772 |
LITIGATION DETAILS:
|
MADRAS HIGH COURT CASE STATUS INFORMATION
SYSTEM |
|
|
Case Status : |
Pending |
|
Status Of : |
APPLICATION 3225 Of 2015 |
|
Litigants : |
M/S.SOUTHERN ROOFINGS PVT. Vs. M/S FARIDA SHOES PVT. LTD. |
|
Pet's Adv : |
-- |
|
Res's Adv : |
-- |
|
Case Updated On : |
Wednesday, April 29, 2015 |
|
Category : |
--- |
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
90284805 |
28/02/2007 * |
689,500,000.00 |
STATE BANK OF INDIA |
LEATHER AND INTERNATIONAL BRANCH, CHENNAI, Tamil Nadu - 600010, INDIA |
- |
|
2 |
90284800 |
21/12/2004 |
49,000,000.00 |
STATE BANK OF INDIA |
LEATHER INTERNATIONAL BRANCH, POONAMALEEHIGH ROAD |
- |
|
3 |
90284787 |
27/03/2004 |
54,000,000.00 |
STATE BANK OF INDIA |
LEATHER INTERNATIONAL BRANCH, KILPAUK, CHENNAI, Tamil Nadu -
600010, INDIA |
- |
|
4 |
90284967 |
14/12/2007 * |
1,022,900,000.00 |
State Bank of India |
Leather International Branch, MVJ Towers, 177/1, |
A33255563 |
|
5 |
90290000 |
06/07/2009 * |
2,007,300,000.00 |
STATE BANK OF INDIA |
LEATHER INTERNATIONAL BRANCH, MVJ TOWERS, 177/1, P.H.ROAD,
KILPAUK, CHENNAI, Tamil Nadu - 600010, INDIA |
A68062132 |
|
6 |
90286216 |
14/03/1987 * |
3,982,500.00 |
STATE BANK OF INDIA |
OVERSEASD BRANCH, 39;RAJAJI SALAI, MADRAS, Tamil Nadu - 600001,
INDIA |
- |
|
7 |
90284927 |
16/05/1986 * |
2,682,500.00 |
STATE BANK OF INDIA |
OVERSEAS BRANCH, 39; RAJAJI SALAI, MADRAS, Tamil Nadu - 600001,
INDIA |
- |
|
8 |
90284918 |
24/03/1986 * |
2,390,000.00 |
STATE BANK OF INDIA |
OVERSEASD BRANCH, 39;RAJAJI SALAI, MADRAS, Tamil Nadu - 600001,
INDIA |
- |
|
9 |
90284911 |
09/07/1985 |
3,400,000.00 |
STATE BANK OF INDIA |
OVERSEAS BRANCH, 39; RAJAJI SALAI, MARDAS, Tamil Nadu - 600001,
INDIA |
- |
|
10 |
90284879 |
09/07/1982 |
1,425,000.00 |
STATE BANK OF INDIA |
OVERSEAS BRANCH, 39; RAJAJI SALAI, MADRAS, Tamil Nadu - 600001,
INDIA |
- |
* Date of charge modification
FIXED ASSETS
- Land
- Building
- Plant and
machinery
- Electrical
fittings
- Furniture and
fittings
- Other office
equipments
- Computers
- Vehicles
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 records 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.64.04 |
|
|
1 |
Rs.99.04 |
|
Euro |
1 |
Rs.71.76 |
INFORMATION DETAILS
|
Information
Gathered by : |
DPA |
|
|
|
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
JYTK |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
YES |
|
--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 |
|
44 |
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.