MIRA INFORM REPORT
|
Report No. : |
348741 |
|
Report Date : |
10.11.2015 |
IDENTIFICATION DETAILS
|
Name : |
DIGVIJAY CHEMICALS LIMITED KHASA DISTILLERY COMPANY (A UNIT OF DIGVIJAY CHEMICALS LIMITED) |
|
|
|
|
Registered
Office : |
4/80, Janpath, New Delhi – 110001 |
|
Tel. No.: |
91-183-2476764 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of Incorporation
: |
02.12.1987 |
|
|
|
|
Com. Reg. No.: |
55-019340 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 63.888 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24119DL1987PLC019340 |
|
|
|
|
IEC No.: |
Not Divulged |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
Not Available |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company. |
|
|
|
|
Line of Business
: |
Subject is engaged in business of manufacturing and
trading of country and foreign liquor. |
|
|
|
|
No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 310000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject was established in 1984. The company manufactures bottles and
sells Indian-made foreign liquor for United Spirits Limited (USL), and also
manufactures and sells country liquor in the region (Punjab-made-liquor). In 2011,
it took over Khasa Distillery, a unit of Bhagat Industrial Corporation
Limited. It has manufacturing facility is in Khasa (Punjab). For the financial year ended 2014, company has reported 11.02% sales
turnover growth as compared to previous sales turnover and it has maintained
above average profitability margins at 1.21% during the year under a review. The ratings reflects promoter’s extensive experience in the liquor
industry backed by its decent clientele and well established track record of
business operations. The ratings also factor in above-average financial profile supported
by its low gearing and comfortable debt protection metrics and efficient
working capital management. Rating strengths is partially offset by modest scale of operations in
a fragmented industry and susceptibility to regulatory changes. Trade relations are reported as fair. Payment terms are reported to be
usually correct. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long Term Rating = BB+ |
|
Rating Explanation |
Inadequate credit quality and high credit risk |
|
Date |
October 13, 2015 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short Term Rating = A4+ |
|
Rating Explanation |
Minimal degree of safety and very high credit risk |
|
Date |
October 13, 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
31-03-2015.
INFORMATION DENIED
Management non co-operative (Tel. No.: 91-183-2476764)
LOCATIONS
|
Registered Office : |
4/80, Janpath, New Delhi – 110001, India |
|
Tel. No.: |
91-183-2476764 |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
|
|
|
Factory : |
Vill Khasa, Amritsar, Punjab, India |
DIRECTORS
AS ON 26.09.2014
|
Name : |
Ravinder Talwar |
|
Designation : |
Director |
|
Address : |
House No. 1598/1, Sector 33 - D, Chandigarh - 160034, Chandigarh, India |
|
Date of Birth/Age : |
27.02.1961 |
|
Date of Appointment : |
10.07.2009 |
|
DIN No.: |
00944146 |
|
|
|
|
Name : |
Sandeep Kumar |
|
Designation : |
Director |
|
Address : |
H. No. 3, Khasa Bazar, Vill-Khasa, Amritsar - 143107, Punjab, India |
|
Date of Birth/Age : |
30.09.1966 |
|
Date of Appointment : |
09.08.2013 |
|
DIN No.: |
06667037 |
|
|
|
|
Name : |
Jatinder Kumar |
|
Designation : |
Director |
|
Address : |
H. No. 303 A, G.H.S. - 86, Sector No. 20 Ward No 30, Panchkula, 134116, Haryana, India |
|
Date of Appointment : |
22.10.2014 |
|
DIN No.: |
06411612 |
|
|
|
|
Name : |
Harmanjit Singh Arora |
|
Designation : |
Director |
|
Address : |
D-3, Rajouri Garden, Delhi - 110027, Delhi, India |
|
Date of Appointment : |
17.03.2015 |
|
DIN No.: |
00341446 |
|
|
|
|
Name : |
Rajiv Kumar |
|
Designation : |
Director |
|
Address : |
House No. 311, Pipli Wala Town, Manimajra, Chandigarh - 160101, Chandigarh, India |
|
Date of Appointment : |
17.03.2015 |
|
DIN No.: |
07168836 |
KEY EXECUTIVES
|
Name : |
Puneet Tangri |
|
Designation : |
Secretary |
|
Address : |
House No. M-5,, Moti Nagar, Focal Point, Ludhina - 141010, Punjab, India |
|
Date of Appointment : |
01.03.2015 |
|
PAN No.: |
AGJPT5020G |
MAJOR SHAREHOLDERS
AS ON 26.09.2014
SHAREHOLDING DETAILS FILE ATTACHED.
Equity Share Break up (Percentage of Total Equity)
AS ON 26.09.2014
|
Category |
Percentage |
|
Bodies corporate |
93.24 |
|
Other top fifty shareholders |
6.76 |
|
Total |
100.00 |
%20-%20348741%2010-Nov-2015_files/image013.gif)
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in business of manufacturing and
trading of country and foreign liquor. |
|
|
|
|
Products : |
Not Divulged |
|
|
|
|
Brand Names : |
Not Available |
|
|
|
|
Agencies Held : |
Not Available |
|
|
|
|
Exports : |
Not Divulged |
|
|
|
|
Imports : |
Not Divulged |
|
|
|
|
Terms : |
Not Divulged |
GENERAL INFORMATION
|
Suppliers : |
|
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Customers : |
|
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
No. of Employees : |
Information declined by the management |
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Bankers : |
|
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Facilities : |
(Rs.
In Million)
|
|
Auditors : |
|
|
Name : |
R. N. Marwah and Company Chartered Accountants |
|
Address : |
4/80, Janpath, New Delhi, India |
|
PAN No.: |
AAAFR9496F |
|
|
|
|
Memberships : |
-- |
|
|
|
|
Collaborators : |
-- |
|
|
|
|
Holding company : |
AKM Real Estate Developers Private Limited |
|
|
|
|
Associate : |
Bhagat Spirits Private Limited |
|
|
|
|
Enterprises which are
owned, or have significant influence of or are partners with Key management
personnel and their relatives : |
Tirupati Renewable Energy Company Private Limited |
CAPITAL STRUCTURE
AS ON 26.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
6500000 |
Equity Shares |
Rs.10/- each |
Rs. 65.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
6388800 |
Equity Shares |
Rs.10/- each |
Rs. 63.888
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 |
63.888 |
63.888 |
63.888 |
|
(b) Reserves & Surplus |
44.624 |
24.972 |
4.012 |
|
(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) |
108.512 |
88.860 |
67.900 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
38.379 |
59.608 |
88.573 |
|
(b) Deferred tax liabilities (Net) |
7.434 |
6.396 |
5.244 |
|
(c) Other long term
liabilities |
0.000 |
0.726 |
0.750 |
|
(d) long-term
provisions |
18.638 |
15.839 |
11.509 |
|
Total Non-current
Liabilities (3) |
64.451 |
82.569 |
106.076 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
53.098 |
43.069 |
0.000 |
|
(b) Trade
payables |
299.959 |
108.997 |
106.544 |
|
(c) Other
current liabilities |
41.966 |
42.195 |
142.278 |
|
(d) Short-term
provisions |
0.561 |
0.407 |
7.951 |
|
Total Current
Liabilities (4) |
395.584 |
194.668 |
256.773 |
|
|
|
|
|
|
TOTAL |
568.547 |
366.097 |
430.749 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
105.340 |
143.364 |
158.776 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
4.439 |
7.481 |
11.542 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
32.785 |
0.105 |
0.105 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
8.240 |
8.441 |
1.831 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
150.804 |
159.391 |
172.254 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
142.388 |
93.610 |
113.601 |
|
(c) Trade
receivables |
158.449 |
47.810 |
99.645 |
|
(d) Cash
and cash equivalents |
13.413 |
18.906 |
24.676 |
|
(e)
Short-term loans and advances |
3.406 |
4.165 |
18.392 |
|
(f) Other current
assets |
100.087 |
42.215 |
2.181 |
|
Total
Current Assets |
417.743 |
206.706 |
258.495 |
|
|
|
|
|
|
TOTAL |
568.547 |
366.097 |
430.749 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Income |
1643.172 |
1480.786 |
1153.432 |
|
|
Other Income |
1.339 |
0.221 |
0.205 |
|
|
TOTAL |
1644.511 |
1481.007 |
1153.637 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
1150.867 |
1087.209 |
798.281 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
20.688 |
2.991 |
-22.651 |
|
|
Employees benefits expense |
35.430 |
33.879 |
33.103 |
|
|
Other expenses |
382.438 |
301.554 |
287.069 |
|
|
Extraordinary Items |
0.160 |
0.000 |
0.000 |
|
|
TOTAL |
1589.583 |
1425.633 |
1095.802 |
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
54.928 |
55.374 |
57.835 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
16.795 |
13.457 |
11.659 |
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
38.133 |
41.917 |
46.176 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
6.560 |
9.854 |
8.901 |
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
31.573 |
32.063 |
37.275 |
|
|
|
|
|
|
|
Less |
TAX |
11.622 |
10.778 |
11.425 |
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
19.951 |
21.285 |
25.850 |
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
3.12 |
3.33 |
4.05 |
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 |
|
Net cash flow from (used in) operation |
55.406 |
11.788 |
57.627 |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
1.21 |
1.44 |
2.24 |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
3.34 |
3.74 |
5.01 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
5.94 |
8.94 |
8.89 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.29 |
0.36 |
0.55 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.84 |
1.16 |
1.30 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.06 |
1.06 |
1.01 |
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 |
63.888 |
63.888 |
63.888 |
|
Reserves & Surplus |
4.012 |
24.972 |
44.624 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
67.900 |
88.860 |
108.512 |
|
|
|
|
|
|
long-term borrowings |
88.573 |
59.608 |
38.379 |
|
Short term borrowings |
0.000 |
43.069 |
53.098 |
|
Current Maturities of Long
Term Debt |
0.000 |
0.000 |
0.000 |
|
Total
borrowings |
88.573 |
102.677 |
91.477 |
|
Debt/Equity
ratio |
1.304 |
1.155 |
0.843 |
%20-%20348741%2010-Nov-2015_files/image015.gif)
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 |
1153.432 |
1480.786 |
1643.172 |
|
|
|
28.381 |
10.966 |
%20-%20348741%2010-Nov-2015_files/image017.gif)
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 |
1153.432 |
1480.786 |
1643.172 |
|
Profit |
25.850 |
21.285 |
19.951 |
|
|
2.24% |
1.44% |
1.21% |
%20-%20348741%2010-Nov-2015_files/image019.gif)
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 |
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 |
NOTE: Registered office of the company has been
shifted from 54, Janpath, New Delhi, India to
the present address w.e.f. 14.12.2009.
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10571874 |
31/03/2015 |
48,742,029.00 |
RELIANCE HOME FINANCE LIMITED |
570, Rectifier House, 3rd Floor, Naigaum Cross Road, Wadala, Mumbai, Maharashtra - 400031, INDIA |
C54902788 |
|
2 |
10571882 |
31/03/2015 |
31,257,971.00 |
RELIANCE HOME FINANCE LIMITED |
570, Rectifier House, 3rd Floor, Naigaum Cross Road, Wadala, Mumbai, Maharashtra - 400031, INDIA |
C54904354 |
|
3 |
10547704 |
11/02/2015 |
30,000,000.00 |
RELIANCE HOME FINANCE LIMITED |
570, Rectifier House, 3rd Floor, Naigaum Cross Road, Wadala, Mumbai, Maharashtra - 400031, INDIA |
C42838177 |
|
4 |
10383652 |
03/05/2014 * |
90,000,000.00 |
CANARA BANK |
MID CORPORATE BRANCH, SECTOR 34A, CHANDIGARH, Chandigarh - 160022, INDIA |
C04712956 |
* Date of charge modification
OVERVIEW OF THE
COMPANY
Subject is engaged in business of manufacturing and trading of country and foreign liquor, company has different brands of their liquor. The company also entered in to a collaboration with United Spirits Ltd India under a User ship Agreement and Tie Up Manufacturing Agreement (UATMA) for Indian Made Foreign Liquor (IMFL) dated 14 February 2011, where by Company is manufacturing and bottling the IMFL product. Under the excise regulations, the manufacturing of IMFL product can be done only in State Excise approved premises having the requisite License and therefore the Company is permitted to use the brand of USL under agreed conditions.
FIXED ASSETS
- Land
- Buildings
- Plant and
Equipments
- Furniture and
Fixture
- Vehicles
- Office
Equipments
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts, India Prisons Service,
Interpol, etc.
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. 66.34 |
|
UK Pound |
1 |
Rs. 100.03 |
|
Euro |
1 |
Rs. 71.45 |
INFORMATION DETAILS
|
Information
Gathered by : |
GYT |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
JYO |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILITY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--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 |
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 |
|
45 |
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.