MIRA INFORM REPORT
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Report No. : |
323177 |
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Report Date : |
21.05.2015 |
IDENTIFICATION DETAILS
|
Name : |
GLOBUS STORES PRIVATE LIMITED |
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Formerly Known
As : |
CORONET ESTATES PRIVATE LIMITED |
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Registered
Office : |
Rahejas Corner of |
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Tel. No.: |
91-22 26057101/02 |
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Country : |
India |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
23.04.1992 |
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Com. Reg. No.: |
11-066474 |
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Capital
Investment / Paid-up Capital : |
Rs. 1330.000 Million |
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CIN No.: [Company Identification
No.] |
U45200MH1992PTC066474 |
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|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMG05986B |
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PAN No.: [Permanent Account No.] |
AABCG3579Q |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer and Retailer of Garments. |
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No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca (15) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Moderate |
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Payment Behaviour : |
Slow |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate track. The company is constantly making loss from its operations and the
losses are increase every year. Moreover, it has accumulated losses which
have eroded the net worth of the company. Liquidity is under severe pressure. However, business is active. Payment terms are slow. In the view of aforesaid, subject can be considered for business
dealings on safe and secured 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 |
Not Available |
|
Rating |
Not Available |
|
Rating Explanation |
Not Available |
|
Date |
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 co-operative (91-22-26058731)
LOCATIONS
|
Registered Office : |
Rahejas Corner of |
|
Tel. No.: |
91-22 26057101/02 |
|
Fax No.: |
91-22-26057104 |
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E-Mail : |
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Website : |
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Factory : |
Vellore, Tamilnadu, India |
DIRECTORS
As on 30.09.2014
|
Name : |
Mr. Vinay Gajanan Nadkarni |
|
Designation : |
Managing director |
|
Address : |
Flat B-803, Videocon Tower B Coop HSG Society Limited, Thakur Complex, Off W.E.H., Kandivli, Mumbai, 400101, Maharashtra, INDIA |
|
Date of Birth/Age : |
04.05.1965 |
|
Date of Appointment : |
11.02.2010 |
|
DIN No.: |
02895960 |
|
|
|
|
Name : |
Mr. Satish Raheja |
|
Designation : |
Director |
|
Address : |
C P 3153, 1211, |
|
Date of Birth/Age : |
03.01.1964 |
|
Date of Appointment : |
28.03.1996 |
|
|
|
|
Name : |
Mr. Akshay Rajan Raheja |
|
Designation : |
Director |
|
Address : |
Rahejas 87/1, G B Marg, Juhu, Mumbai – 400 049, |
|
Date of Birth/Age : |
25.05.1982 |
|
Date of Appointment : |
05.06.2000 |
|
DIN No.: |
00288397 |
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|
|
|
Name : |
Mr. Vinayak
Premchand Aggarwal |
|
Designation : |
Director |
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Address : |
502, Gladioli, Off |
|
Date of Birth/Age : |
12.04.1969 |
|
Date of Appointment : |
12.06.2000 |
|
DIN No.: |
00007280 |
KEY EXECUTIVES
|
Name : |
Mr. Vinay Nadkarni |
|
Designation : |
Secretary |
|
Address : |
B-803, Videocon Tower "B" CHS Ltd., Thakur Complex, Off Western Express Highway, Kandivli - East, Mumbai, 400101, Maharashtra, INDIA |
|
Date of Appointment : |
29.12.2001 |
|
PAN No.: |
AABPN4813H |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2014
|
Names of Equity Shareholders |
|
No. of Shares |
|
Rajan Raheja Jointly With
Suman
Raheja |
|
1170200 |
|
Suman Raheja Jointly With Rajan Raheja |
|
1170200 |
|
Akshay Raheja Jointly
With Suman
Raheja |
|
2040000 |
|
Viren Raheja Jointly With Suman Raheja |
|
2040000 |
|
Gataad Investment and Finance Private Limited, India |
|
1500000 |
|
Trophy Investment and Finance Private Limited, India |
|
1500000 |
|
Akshay Raheja Jointly
With Viren
Raheja |
|
1039800 |
|
Viren Raheja Jointly With Akshay
Raheja |
|
1039800 |
|
Total |
|
11500000 |
|
Names of Preference Shareholders |
|
No. of Shares |
|
Peninsula Estates Private Limited, India |
|
800000 |
|
Rajan Raheja Jointly With
Suman
Raheja |
|
500000 |
|
Suman Raheja Jointly With Rajan Raheja |
|
500000 |
|
Total |
|
1800000 |
Equity Share Break up (Percentage of Total Equity)
As on 30.09.2014
|
Category |
Percentage |
|
Bodies corporate |
26.09 |
|
Directors or relatives of Directors |
73.91 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Retailer of Garments. |
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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 : |
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 : |
Icici Bank, Icici Tower; Bandrakurlacomplex;Bandra East, Mumbai - 400051, Maharashtra, India HDFC Ltd. Ramon House; H.T. Prakash Marg; 169; Backbay Recla, Mumbai - 400020, Maharashtra, India UTI Bank Ltd. Sir P.M. Road Branch, Vbombay - 400001, Maharashtra, India |
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Facilities : |
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Financial
Institution : |
Housing Development Finance Corporation Limited Ramon House 169backbay Reclamation, H T Parekh Marg, Mumbai - 400020, Maharashtra, India |
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Auditors : |
|
|
Name : |
G.M. Kapadia and Co Chartered Accountants |
|
Address : |
1001 Raheja Chambers 213, Free Press Journal Marg, Nariman Point, Mumbai 400021, Maharashtra, India |
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PAN N Income-tax PAN of auditor or auditor's firm : |
AAAFG4713G |
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Memberships : |
-- |
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Collaborators : |
-- |
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Enterprises which
are owned, or have significant influence of or are partners with Key
management personnel and their relatives : |
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CAPITAL STRUCTURE
As on 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
11,500,000 |
Equity Shares |
Rs.100/- each |
Rs. 1150.000 Million |
|
2,000,000 |
Preference Shares |
Rs.100/- each |
Rs.200.000 Million |
|
|
Total |
|
Rs.1350.000
Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
11,500,000 |
Equity Shares |
Rs.100/- each |
Rs. 1150.000 Million |
|
1,800,000 |
Preference Shares |
Rs.100/- each |
Rs.180.000 Million |
|
|
Total |
|
Rs.1330.000
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 |
1330.000 |
1330.000 |
1330.000 |
|
(b) Reserves & Surplus |
(1853.444) |
(1536.692) |
(1216.022) |
|
(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) |
(523.444) |
(206.692) |
113.978 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
860.403 |
804.126 |
780.527 |
|
(b) Deferred tax liabilities
(Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
96.000 |
96.000 |
1.342 |
|
(d) long-term provisions |
1.304 |
1.384 |
0.000 |
|
Total
Non-current Liabilities (3) |
957.707 |
901.510 |
781.869 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
290.810 |
225.405 |
151.969 |
|
(b) Trade payables |
706.820 |
561.429 |
483.110 |
|
(c) Other current liabilities |
182.194 |
170.244 |
146.343 |
|
(d) Short-term provisions |
4.299 |
3.417 |
1.696 |
|
Total
Current Liabilities (4) |
1184.123 |
960.495 |
783.118 |
|
|
|
|
|
|
TOTAL |
1618.386 |
1655.313 |
1678.965 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
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(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
841.723 |
873.114 |
918.533 |
|
(ii) Intangible Assets |
29.136 |
19.349 |
12.820 |
|
(iii) Capital work-in-progress |
0.131 |
4.374 |
5.371 |
|
(iv) Intangible assets under
development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.150 |
0.150 |
0.150 |
|
(c) Deferred tax assets (net) |
25.205 |
27.212 |
26.446 |
|
(d) Long-term Loan and Advances |
28.672 |
41.083 |
28.721 |
|
(e) Other Non-current assets |
7.879 |
7.475 |
7.215 |
|
Total
Non-Current Assets |
932.896 |
972.757 |
999.256 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
485.053 |
476.809 |
493.841 |
|
(c) Trade receivables |
4.744 |
9.777 |
4.621 |
|
(d) Cash and cash equivalents |
52.793 |
54.110 |
51.783 |
|
(e) Short-term loans and
advances |
142.440 |
138.196 |
128.964 |
|
(f) Other current assets |
0.460 |
3.664 |
0.500 |
|
Total
Current Assets |
685.490 |
682.556 |
679.709 |
|
|
|
|
|
|
TOTAL |
1618.386 |
1655.313 |
1678.965 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Income |
|
|
|
|
|
Other Income |
|
|
|
|
|
TOTAL
|
2345.426 |
2308.780 |
2182.362 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
TOTAL
|
2660.172 |
2630.215 |
2419.801 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
(314.746) |
(321.435) |
(237.439) |
|
|
|
|
|
|
|
Less |
TAX (H) |
2.005 |
(0.765) |
2.526 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
(316.751) |
(320.670) |
(239.965) |
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
(1546.492) |
(1225.823) |
(985.857) |
|
|
|
|
|
|
|
Less |
PRIOR PERIOD
EXPENSES/ADJUSTMENT |
0.002 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
Balance
Carried to the B/S |
(1863.247) |
(1546.492) |
(1225.823) |
|
|
|
|
|
|
|
|
EARNINGS
IN FOREIGN CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
19.381 |
28.448 |
31.934 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
(23.81) |
(24.11) |
(18.04) |
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 / Total Income) |
(%) |
(13.42) |
(13.92) |
(10.88) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(19.76) |
(19.80) |
(14.42) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.60 |
1.56 |
(2.08) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
(2.20) |
(4.98) |
8.18 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.58 |
0.71 |
0.87 |
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 |
1330.000 |
1330.000 |
1330.000 |
|
Reserves & Surplus |
(1216.022) |
(1536.692) |
(1853.444) |
|
Net
worth |
113.978 |
(206.692) |
(523.444) |
|
|
|
|
|
|
long-term borrowings |
780.527 |
804.126 |
860.403 |
|
Short term borrowings |
151.969 |
225.405 |
290.810 |
|
Total
borrowings |
932.496 |
1029.531 |
1151.213 |
|
Debt/Equity
ratio |
8.181 |
(4.981) |
(2.199) |
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 |
2182.362 |
2308.780 |
2345.426 |
|
|
|
5.793 |
1.587 |
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 |
2182.362 |
2308.780 |
2345.426 |
|
Profit |
(239.965) |
(320.670) |
(316.751) |
|
|
(11.00%) |
(13.89%) |
(13.51%) |
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 |
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 |
Yes |
|
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 |
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 |
OPERATIONS
The overall performance during the financial year saw the total income increase by 1.56 % from Rs. 2308.780 Million to Rs. 2345.426 Million in 2013-2014 and resulted in net loss of Rs 314.746 Million as against a net loss of Rs. 321.435 Million last year. The retailing business of The Company faced considerable challenges during the year due to the current economic slowdown in the country.
The retailing business of The Company faced considerable challenges during the year due to the current economic slowdown in the country. During the year The Company has opened four new stores at Thane (Viviana Mall), Kolkata, Vijaywada and Bhandup, Mumbai and one factory outlet at Vellore, Tamilnadu. During the year, The Company has shut down operations of its Thane (Eternity Mall) and Kalaghoda, Mumbai store.
During the year, owing to a fire in the In-Orbit Mall in Pune in May 2013, The Company’s store in the mall was temporarily shut down for necessary repairs and it has been re-opened in August, 2013. The store at Koregaon Park Plaza, which was closed due to fire at the Mall has not yet been opened. In August 2014 The Company has closed down operations of its Jalandhar store. In July 2014, The Company has temporarily closed down operations of its store in City Mall 36, Raipur owing to renovation of the Mall and is likely to open the same once the Mall becomes operational.
UNSECURED LOAN
|
PARTICULARS |
31.03.2014 (Rs.
in Million) |
31.03.2013 (Rs.
in Million) |
|
Long-term
Borrowings |
|
|
|
Loans and advances from related parties |
370.404 |
377.126 |
|
|
|
|
|
Short-term
borrowings |
|
|
|
Working capital loans from banks |
249.086 |
200.405 |
|
Intercorporate borrowings |
35.000 |
25.000 |
|
Loans and advances from others |
6.723 |
0.000 |
|
Total |
661.213 |
602.531 |
INDEX
OF CHARGES
|
S.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10309364 |
28/09/2011 |
250,000,000.00 |
YES BANK LIMITED |
9TH FLOOR, NEHRU CENTRE, DISCOVERY OF INDIA, DR. |
B22198741 |
|
2 |
10295682 |
11/07/2014 * |
650,000,000.00 |
HOUSING DEVELOPMENT FINANCE CORPORATION LIMITED |
RAMON HOUSE 169BACKBAY RECLAMATION, H T PAREKH MARG, MUMBAI,
Maharashtra - 400020, INDIA |
C15311160 |
FIXED ASSETS
·
· Building
· Building on Lease
· Plant and Machinery
· Office Equipments
· Computer and Hardware
· Furniture and Fixtures
· Vehicles
· 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 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.68.86 |
|
|
1 |
Rs.98.88 |
|
Euro |
1 |
Rs.70.73 |
INFORMATION DETAILS
|
Information
Gathered by : |
PRT |
|
|
|
|
Analysis Done by
: |
SUM |
|
|
|
|
Report Prepared
by : |
JYTK |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
2 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
2 |
|
--PROFITABILITY |
1~10 |
1 |
|
--LIQUIDITY |
1~10 |
1 |
|
--LEVERAGE |
1~10 |
1 |
|
--RESERVES |
1~10 |
1 |
|
--CREDIT LINES |
1~10 |
1 |
|
--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 |
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 |
|
15 |
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.