MIRA INFORM REPORT
|
Report No. : |
321915 |
|
Report Date : |
11.05.2015 |
IDENTIFICATION DETAILS
|
Name : |
NAAPTOL ONLINE SHOPPING PRIVATE LIMITED |
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Registered
Office : |
Shop #11, Kabra Galaxy Star I CHS, Conopus Brahmand, Azad Nagar,
Thane-400607, Maharashtra |
|
Tel. No.: |
91-22-61434343/67102221 |
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|
Country : |
India |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
25.02.2008 |
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|
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Com. Reg. No.: |
11-179371 |
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Capital
Investment / Paid-up Capital : |
Rs. 37.013 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U52190MH2008PTC179371 |
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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.] |
AACCN7103Q |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
The company is engaged in providing shopping platform through print media and e-commerce. |
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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 : |
Exist |
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Comments : |
Subject is an established company having moderate track. The rating is constrained due to continuous losses made by the company
over the years. However, liquidity of the company is fair. It is to be noted
that the company is very much active on television promoting their range of
products, and has strong presence in Gujarat region. Trade relations are fair. Business is active. Payment terms are 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
31-03-2014.
INFORMATION DECLINED
Management non cooperative (91-9223537000)
LOCATIONS
|
Registered Office : |
Shop #11, Kabra Galaxy Star I CHS, Conopus Brahmand, Azad Nagar,
Thane-400607, Maharashtra, India |
|
Tel. No.: |
91-22-61434343/67102221 |
|
Fax No.: |
91-22-67102220 |
|
E-Mail : |
DIRECTORS
As on 30.12.2014
|
Name : |
Mr. Manu Agarwal |
|
Designation : |
Director |
|
Address : |
2602, Glen Heights, Hiranandani Gardens,, Powai,, Mumbai-400076, Maharashtra, India |
|
Date of Birth/Age : |
14.12.1970 |
|
Date of Appointment : |
25.02.2008 |
|
DIN No.: |
00004186 |
|
|
|
|
Name : |
Mr. Ruchir Lahoty |
|
Designation : |
Nominee Director |
|
Address : |
D-905, 9th Floor, Ashok Garden, T J Road,, Sawree,, Mumbai-400015, Maharashtra, India |
|
Date of Birth/Age : |
31.10.1978 |
|
Date of Appointment : |
30.07.2013 |
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DIN No.: |
02191430 |
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|
|
|
Name : |
Mr. Mohd Yusuf Khan |
|
Designation : |
Director |
|
Address : |
14/501 Nai Basti , Murad Ali Lane, Hussain Ganj, Lucknow-261125, Uttar Pradesh, India |
|
Date of Birth/Age : |
06.05.1976 |
|
Date of Appointment : |
29.11.2010 |
|
DIN No.: |
03183828 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 31.12.2014
SHAREHOLDING FILE ATTACHED
Equity Share Break up (Percentage of Total Equity)
|
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 |
4.78 |
|
Bodies corporate |
13.39 |
|
Directors or relatives of Directors |
45.37 |
|
Other top fifty shareholders |
36.46 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
The company is engaged in providing shopping platform through print media and e-commerce. |
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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 |
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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Auditors : |
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Name : |
S.R Batliboi and Associates LLP Chartered Accountants |
|
Address : |
The Ruby, 14th Floor, 29, Senapati Bapat Marg, Dadar, West, Mumbai -400028, Maharashtra, India |
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PAN No.: |
ACHFS9118A |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Subsidiaries : |
Softline Creations Private Limited Cinema 24x7 Private Limited |
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|
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Entities over which
key management personnel
exercise significant influence : |
Octashop Eretail Services Private Limited |
CAPITAL STRUCTURE
As on 31.12.2014
Authorised Capital : Rs.49.500 Million
Issued, Subscribed & Paid-up Capital : Rs.42.453
Million
As on 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1,700,000 |
Equity Shares |
Rs.10/- each |
Rs.17.000 Million |
|
6,32,000 |
8% Series "A" Compulsorily Convertible Non-Cumulative Preference |
Rs.10/- each |
Rs. 6.320 Million |
|
13,09,000 |
8% Series "B" Compulsorily Convertible Non-Cumulative Preference |
Rs.20/- each |
Rs. 26.180 Million |
|
|
|
|
Rs. 49.500
Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1,287,891 |
Equity Shares |
Rs.10/- each |
Rs.12.879
Million |
|
6,31,013 |
8% Series "A" Compulsorily Convertible Non-Cumulative Preference |
Rs.10/- each |
Rs. 6.310 Million |
|
8,91,200 |
8% Series "B" Compulsorily Convertible Non-Cumulative Preference |
Rs.20/- each |
Rs. 17.824 Million |
|
|
|
|
Rs. 37.013 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 |
37.013 |
37.013 |
32.769 |
|
(b) Reserves & Surplus |
543.365 |
1056.856 |
1060.814 |
|
(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) |
580.378 |
1093.869 |
1093.583 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.483 |
1.165 |
0.000 |
|
(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) |
0.483 |
1.165 |
0.000 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
0.867 |
0.867 |
0.000 |
|
(b) Trade payables |
408.744 |
233.661 |
184.802 |
|
(c) Other current liabilities |
75.549 |
42.980 |
41.660 |
|
(d) Short-term provisions |
90.863 |
4.968 |
2.439 |
|
Total
Current Liabilities (4) |
576.023 |
282.476 |
228.901 |
|
|
|
|
|
|
TOTAL |
1156.884 |
1377.510 |
1322.484 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
51.467 |
50.891 |
18.992 |
|
(ii) Intangible Assets |
9.279 |
4.712 |
3.766 |
|
(iii) Capital work-in-progress |
0.000 |
20.151 |
12.960 |
|
(iv) Intangible assets under
development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
152.083 |
14.873 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
239.095 |
367.973 |
143.553 |
|
(e) Other Non-current assets |
14.329 |
5.472 |
14.810 |
|
Total
Non-Current Assets |
466.253 |
464.072 |
194.081 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
188.921 |
382.947 |
10.025 |
|
(b) Inventories |
0.000 |
0.000 |
0.000 |
|
(c) Trade receivables |
0.000 |
0.000 |
2.482 |
|
(d) Cash and cash equivalents |
149.135 |
166.629 |
737.479 |
|
(e) Short-term loans and
advances |
352.017 |
358.422 |
352.904 |
|
(f) Other current assets |
0.558 |
5.440 |
25.513 |
|
Total
Current Assets |
690.631 |
913.438 |
1128.403 |
|
|
|
|
|
|
TOTAL |
1156.884 |
1377.510 |
1322.484 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
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Income |
|
|
|
|
|
|
Other Income |
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|
|
|
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TOTAL |
1282.820 |
1082.721 |
878.222 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
1822.098 |
1437.393 |
552.619 |
|
|
|
|
|
|
|
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|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
(539.278) |
(354.672) |
325.603 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
29.719 |
19.030 |
4.250 |
|
|
|
|
|
|
|
|
|
|
PROFIT /
(LOSS) BEFORE TAX |
(568.997) |
(373.702) |
329.853 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
0.000 |
0.000 |
0.446 |
|
|
|
|
|
|
|
|
|
|
PROFIT /
(LOSS) AFTER TAX |
(568.997) |
(373.702) |
329.407 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
(202.48) |
(132.99) |
-- |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
(44.36) |
-34.52 |
37.51 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(56.63) |
(27.84) |
25.19 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.98) |
(0.34) |
0.30 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.20 |
3.23 |
4.93 |
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 |
32.769 |
37.013 |
37.013 |
|
Reserves & Surplus |
1060.814 |
1056.856 |
543.365 |
|
Net
worth |
1093.583 |
1093.869 |
580.378 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
1.165 |
0.483 |
|
Short term borrowings |
0.000 |
0.867 |
0.867 |
|
Total
borrowings |
0.000 |
2.032 |
1.350 |
|
Debt/Equity
ratio |
0.000 |
0.002 |
0.002 |
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 Income |
878.222 |
1082.721 |
1282.820 |
|
|
|
23.286 |
18.481 |
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 Income |
878.222 |
1082.721 |
1282.820 |
|
Profit |
329.407 |
(373.702) |
(568.997) |
|
|
37.51% |
(34.52%) |
(44.36%) |
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 |
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 |
No |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
No |
Note:
Registered office of the company has been Shifted Gala No.418, Building No2, Sector-1, Millennium Business Park, Mahape Navi Mumbai- 400710, Maharashtra, India to the present address w.e.f. 16.01.2012
|
LITIGATION DETAILS |
||||||
|
Bench:- Bombay |
||||||
|
Presentation
Date:- 30/04/2014 |
||||||
|
Lodging No. : |
ARBPL/735/2014 |
Failing Date:- |
30/04/2014 |
Reg. No.:- |
ARBP/1279/2014 |
|
|
Reg. Date:- |
24/09/2014 |
|
|
|
|
|
|
Petitioner:- |
TATA CAPITAL FINANCE SERVICE LIMITED |
Respondent:- |
NAAPTOL
ONLINE SHOPPING PRIVATE LIMITED |
|||
|
Petn.Adv:- |
MDP AND PARTNER (I3989) |
Resp Adv.:- |
VND AND ASSOCIATES (I9737) |
|||
|
District:- |
MUMBAI |
|||||
|
Bench:- |
SINGLE |
Category:- |
ARBITRATION ACT |
|||
|
Status:- |
Pre-Admission |
Stage:- |
FIRST ON BOARD [ORIGANAL SIDE MATTERS] |
|||
|
Next Date:- |
08/05/2015 |
Stage:- |
-- |
|||
|
Coram:- |
HON'BLE SHRI JUSTICE S.J. KATHAWALLA |
|
|
|||
|
Act. : |
Companies Act & Rules 1956 |
Under Section: |
9 |
|||
(Rs.
In Million)
|
UNSECURED LOAN |
As
on 31.03.2014 |
As
on 31.03.2013 |
|
Long Term
Borrowing |
|
|
|
Other loans and advances |
0.483 |
1.165 |
|
|
|
|
|
Short Term
Borrowing |
|
|
|
Other loans and advances |
0.867 |
0.867 |
|
Total |
1.350 |
2.032 |
INDEX OF CHARGES: NO
CHARGES EXIST FOR THE COMPANY
FIXED ASSETS
- Furniture and fixtures
- Vehicles
- Office equipment
- Computer
- Leasehold improvements
- Land
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 : |
SVA |
|
|
|
|
Analysis Done by
: |
SUM |
|
|
|
|
Report Prepared
by : |
JYTK |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
3 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--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 |
NO |
|
--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.