MIRA INFORM REPORT
|
Report No. : |
348217 |
|
Report Date : |
05.11.2015 |
IDENTIFICATION DETAILS
|
Name : |
FLORA MARMO INDUSTRIES PRIVATE LIMITED |
|
|
|
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Registered
Office : |
Main Marble Market, Airport Side Service Road, Western Express Highway, Vile Parle (East), Mumbai – 400099, Maharashtra |
|
Tel. No.: |
91-22-26631573 / 26631574 |
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|
|
|
Country : |
India |
|
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|
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Financials (as
on) : |
31.03.2014 |
|
|
|
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Date of Incorporation
: |
17.08.2007 |
|
|
|
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Com. Reg. No.: |
11-173185 |
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|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 120.000 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U14101MH2007PTC173185 |
|
|
|
|
IEC No.: |
Not Available |
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|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMF05617D |
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|
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PAN No.: [Permanent Account No.] |
AABCF2082K |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Subject is engaged in the business of processing and trading of
marbles and trading of other tiling products. |
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|
|
|
No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (41) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
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|
|
Comments : |
Subject is an established company incorporated in the year 2007. It
has satisfactory track. The company has reported marginal decrease in sales turnover and
profit in FY14, but has maintained fair profit margin of nearly 4%. However
net worth position of the company is reported to be adequate and decreasing
debt level leading to improvement in the capital structure. Trade relations are fair. Business is active. Payment terms are
reported to be slow but correct. The company can be considered for business dealings with 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 |
CARE |
|
Rating |
Long term Bank facilities (B+) |
|
Rating Explanation |
Risk prone credit quality and carries very high credit risk. |
|
Date |
July 16, 2014 |
|
|
|
|
Rating Agency Name |
CARE |
|
Rating |
Short term Bank facilities (A4) |
|
Rating Explanation |
Minimal degree of safety and very high credit risk. |
|
Date |
July 16, 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
31-03-2015.
INFORMATION DENIED BY
|
Name : |
Mr. Mukesh |
|
Designation : |
Account Head |
|
Contact No.: |
91-9870505127 |
|
Date : |
04.11.2015 |
LOCATIONS
|
Registered Office : |
Main Marble Market, Airport Side Service Road, Western Express Highway,
Vile Parle (East), Mumbai – 400 099, Maharashtra, India |
|
Tel. No.: |
91-22-26631573 / 26631574 |
|
Mobile No.: |
91-9870501200 (Mr. Rohan) |
|
Fax No.: |
91-22-26150340 |
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E-Mail : |
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|
Website: |
|
|
|
|
|
Factory : |
Sr. Number 75 / 2, Behind Athal Weigh Bridge, Behind Silvassa Road,
Athal, Silvassa – 396 230, Dadra Nagar Haveli – U/T |
|
Tel. No.: |
91-80004-34545 / 260-2993567 |
|
Fax No.: |
91-260-2650370 |
|
E-Mail : |
DIRECTORS
As on: 24.09.2014
|
Name : |
Mr. Troy Louis Caeiro |
|
Designation : |
Director |
|
Address : |
405/B, Payal Apartment, Off |
|
Date of Birth/Age : |
27.10.1965 |
|
Date of Appointment : |
17.08.2007 |
|
DIN No.: |
00621726 |
|
PAN No.: |
AABPC8437C |
|
|
|
|
Name : |
Mr. Amit Balkrishna Jalan |
|
Designation : |
Director |
|
Address : |
601,CTS G/288, Serinity, Indranarayan Road, Santacruz (West), Mumbai - 400054, Maharashtra, India |
|
Date of Birth/Age : |
27.09.1966 |
|
Date of Appointment : |
17.08.2007 |
|
DIN No.: |
01335613 |
|
PAN No.: |
AAJPJ5896N |
KEY EXECUTIVES
|
Name : |
Mr. Mukesh |
|
Designation : |
Account Head |
|
|
|
|
Name : |
Mr. Gaurav Bharatbhai Mody |
|
Designation : |
Secretary |
|
Address : |
2,Shiv Ashish Apartment, Hemukalani Road No.3, Iraniwadi, Kandivali
(West), Mumbai-400067, Maharashtra, India |
|
Date of Birth/Age : |
28.03.1987 |
|
PAN |
AQFPM9808B |
|
Date of Appointment : |
10.03.2014 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 24.09.2014
|
Names of Shareholders (Equity share) |
|
No. of Shares |
|
Jalan Balkrishna Amit |
|
3500000 |
|
Caeiro Louis Troy |
|
3500000 |
|
Total |
|
7000000 |
|
Names of Shareholders (Preference Share) |
|
No. of Shares |
|
Kedia Kirti Pragna |
|
5000000 |
|
|
|
|
|
Total |
|
5000000 |
Equity Share Break up (Percentage of Total Equity)
As on: 24.09.2014
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in the business of processing and trading of
marbles and trading of other tiling products. |
|
|
|
|
Products : |
Marbles and trading of other tiling products. |
|
|
|
|
Brand Names : |
Not Divulged |
|
|
|
|
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 |
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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Facilities : |
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Auditors : |
|
|
Name : |
Bhupesh Shah and Associates Chartered Accountants |
|
Address : |
315, Manish Chambers, Sonawala Road, Goregaon - (West), Mumbai
- 400 063 Maharashtra, India |
|
PAN No.: |
AACPS1597G |
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|
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Memberships : |
--- |
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|
|
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Collaborators : |
--- |
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|
|
Associates : |
|
CAPITAL STRUCTURE
As on: 24.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
7500000 |
Equity Shares |
Rs.10/- each |
Rs. 75.000 Million |
|
7500000 |
Preference Share |
Rs.10/- each |
Rs. 75.000 Million |
|
|
|
|
|
|
|
Total |
|
Rs. 150.000
Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
7000000 |
Equity Shares |
Rs.10/- each |
Rs. 70.000 Million |
|
5000000 |
Preference Share |
Rs.10/- each |
Rs. 50.000 Million |
|
|
|
|
|
|
|
Total |
|
Rs. 120.000
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 |
120.000 |
120.000 |
120.000 |
|
(b) Reserves & Surplus |
207.084 |
176.060 |
138.757 |
|
(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) |
327.084 |
296.060 |
258.757 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
213.127 |
255.444 |
260.734 |
|
(b) Deferred tax liabilities (Net) |
3.344 |
2.988 |
2.457 |
|
(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) |
216.471 |
258.432 |
263.191 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short term
borrowings |
339.337 |
397.740 |
337.086 |
|
(b) Trade
payables |
534.540 |
445.946 |
208.292 |
|
(c) Other
current liabilities |
160.373 |
181.024 |
154.330 |
|
(d) Short-term
provisions |
15.500 |
19.000 |
6.556 |
|
Total Current
Liabilities (4) |
1049.750 |
1043.710 |
706.264 |
|
|
|
|
|
|
TOTAL |
1593.305 |
1598.202 |
1228.212 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
146.994 |
153.003 |
129.707 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
231.033 |
202.973 |
177.662 |
|
(iv)
Intangible assets under development |
8.316 |
8.394 |
7.665 |
|
(b) Non-current Investments |
54.575 |
54.575 |
54.575 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
16.838 |
17.288 |
10.000 |
|
(e) Other
Non-current assets |
0.000 |
0.103 |
0.205 |
|
Total Non-Current
Assets |
457.756 |
436.336 |
379.814 |
|
|
|
|
|
|
(2) Current
assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
655.807 |
631.982 |
293.084 |
|
(c) Trade
receivables |
313.317 |
336.014 |
400.144 |
|
(d) Cash
and cash equivalents |
65.487 |
68.089 |
57.200 |
|
(e)
Short-term loans and advances |
100.938 |
125.781 |
97.970 |
|
(f) Other
current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
1135.549 |
1161.866 |
848.398 |
|
|
|
|
|
|
TOTAL |
1593.305 |
1598.202 |
1228.212 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
703.758 |
771.230 |
845.214 |
|
|
|
Other Income |
17.009 |
5.426 |
4.031 |
|
|
|
TOTAL (A) |
720.767 |
776.656 |
849.245 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL (B) |
582.659 |
631.850 |
696.754 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
138.108 |
144.806 |
152.491 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
81.881 |
81.190 |
84.954 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
56.227 |
63.616 |
67.537 |
|
|
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION (F) |
8.775 |
6.414 |
6.113 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
47.452 |
57.202 |
61.424 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
15.500 |
19.899 |
14.738 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
31.023 |
37.303 |
46.687 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
176.060 |
138.756 |
92.069 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED TO
THE B/S |
207.083 |
176.059 |
138.756 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
4.43 |
5.33 |
6.67 |
|
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current Maturities of Long term debt |
44.960 |
47.654 |
43.078 |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net Cash flows from operating activities |
NA |
NA |
NA |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
4.41 |
4.84 |
5.52 |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
19.62 |
18.78 |
18.04 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
3.65 |
4.29 |
6.22 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.15 |
0.19 |
0.24 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
1.83 |
2.37 |
2.48 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.08 |
1.11 |
1.20 |
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 |
120.000 |
120.000 |
120.000 |
|
Reserves & Surplus |
138.757 |
176.060 |
207.084 |
|
Money received against
share warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net worth |
258.757 |
296.060 |
327.084 |
|
|
|
|
|
|
long-term borrowings |
260.734 |
255.444 |
213.127 |
|
Short term borrowings |
337.086 |
397.740 |
339.337 |
|
Current Maturities of
Long-Term Debts |
43.078 |
47.654 |
44.960 |
|
Total borrowings |
640.898 |
700.838 |
597.424 |
|
Debt/Equity ratio |
2.477 |
2.367 |
1.827 |
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 |
845.214 |
771.230 |
703.758 |
|
|
|
(8.753) |
(8.749) |
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 |
845.214 |
771.230 |
703.758 |
|
Profit |
46.687 |
37.303 |
31.023 |
|
|
5.52% |
4.84% |
4.41% |
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 |
--- |
|
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 |
Yes |
|
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 |
Yes |
|
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 |
BUSINESS OVERVIEW:
The Company is one of the leading manufacturers & providers of choicest and exclusive range of imported marbles. The Company has developed long-term relationships with several niche clients in India & abroad. Over the years, the Company has evolved in response to changing customer demands and aspirations. Aggressive marketing and rational utilization of resources by the management of the Company has helped to sustained in such competitive market. The Company has deployed considerable attention and resources on creating the better future for itself, so that when the cyclical trends on the commodity become more favourable, as has been the experience in the past. The Company has started backward integration and formed a subsidiary Company in 2011-12 at Turkey viz. M/S Mahavir Mermer Medencilik San. Tic Limited Sti. The subsidiary Company has acquired mining rights for production of Marbles from Turkey Government. The Company is producing Marble and Exporting word wide.
CURRENT YEAR
The company has recorded net sales (excluding excise duty)
of Rs. 720.700 Million during the financial year 2013-14, as compared to Rs.
776.700 Million of previous year. The net sales reduced by 7% due to various
economic reasons. The construction industry, on which the growth of the Company
depends, is showing signs of revival in the current year after a long period of
economic turndown. The Directors hope that on the basis of priority conferred
by the Government to the housing and infrastructure industry, demand for
marbles would considerably improve. The Management is fully geared up to take
the maximum advantage of any upsurge in demand and shall lose no opportunity in
capturing a major share of the incremental market demand. The Sales team is on
high alert for scouting all new and existing opportunities as regards to big
projects and retail demand as well.
UNSECURED LOAN
|
Particular |
31.03.2014 (Rs.
in Million) |
31.03.2013 (Rs.
in Million) |
|
Long-term
Borrowings |
|
|
|
Rupee term loans from bank |
164.035 |
180.616 |
|
|
|
|
|
Total |
164.035 |
180.616 |
INDEX OF CHARGES:
|
S. No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10244698 |
23/09/2010 |
195,000,000.00 |
Dena Bank |
Ranade Road Branch, Navprabhat Chambers, Dadar West, Mumbai - 400028, Maharashtra, INDIA |
A96484720 |
|
2 |
10154675 |
03/03/2012 * |
982,100,000.00 |
Dena Bank |
Ranade Road Branch, Navprabhat Chambers, Dadar West, Mumbai - 400028, Maharashtra, INDIA |
B37627494 |
*Date of charge modification
FIXED ASSETS:
- Land
- Building
- Office Building
- Plant and equipment
- Furniture and fixtures
- Vehicles
- Office equipment
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.65.57 |
|
|
1 |
Rs.101.13 |
|
Euro |
1 |
Rs.71.80 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Analysis Done by
: |
KNJ |
|
|
|
|
Report Prepared
by : |
MTN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILITY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
4 |
|
--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 |
|
41 |
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.