MIRA
INFORM REPORT
|
Report No. : |
351032 |
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Report Date : |
25.11.2015 |
IDENTIFICATION DETAILS
|
Name : |
ENTRAK INTERNATIONAL TRADING PRIVATE LIMITED (w.e.f. 22.07.2015) |
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Formerly Known
As : |
ENTRACK INTERNATIONAL TRADING PRIVATE LIMITED |
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Registered
Office : |
414, |
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Tel. No.: |
91-281-2477982 |
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Country : |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
11.03.1994 |
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Com. Reg. No.: |
04-034664 |
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Capital
Investment / Paid-up Capital : |
Rs. 120.000 Million |
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CIN No.: [Company Identification
No.] |
U51100GJ1994PTC034664 |
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IEC No.: |
0594041481 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
AAACE2476K |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Trader and Importer of Pens, Writing Instruments, Belts, Wallets and
Leather Designer Bags. |
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No. of Employees
: |
50 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (43) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject was incorporated in the year 1994. It is established company having satisfactory track record. The rating takes into consideration company comfortable financial risk profile, increased cash and bank balances, decent capital structure along with average debt protection metrics. The rating further takes into consideration extensive experience of company’s promoters in the trading of pens, writing instruments, belts etc. However, rating is constrained on company’s marginal decline into its sales turnover and loss incurred from its operational activities during FY-14. Trade relations seem to be fair. Business is active. Payments terms are slow but correct. In view of aforesaid, the company can be considered normal 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 |
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
31-03-2015.
INFORMATION PARTED BY
|
Name : |
Mr. Rajesh S. |
|
Designation : |
Account Manager |
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Contact No.: |
91-281-2477982 |
|
Date : |
24.11.2015 |
LOCATIONS
|
Registered Office : |
414, Star Plaza, Jasani Road, Rajkot- 360001, Gujarat, India |
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Tel. No.: |
91-281-2477982 |
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Fax No.: |
91-281-2477980 |
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E-Mail : |
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|
Website : |
DIRECTORS
As on 30.09.2014
|
Name : |
Mr. Pankaj Rasiklal Shah |
|
Designation : |
Director |
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Address : |
Shroff Road, Kitab Ghar, Rajkot-360001, Gujarat, India |
|
Date of Birth/Age : |
62 Years |
|
Qualification : |
B.A. DERE |
|
Experience : |
18 Years |
|
Date of Appointment : |
04.04.1995 |
|
PAN No.: |
AESPS0945L |
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DIN No.: |
00467330 |
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|
|
|
Name : |
Mr. Dilip Rasiklal Doshi |
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Designation : |
Director |
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Address : |
414-Star Plaza, Near. Phulchhab Chowk, Rajkot-360001, Gujarat, India |
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Date of Birth/Age : |
68 Years |
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Qualification : |
B. Com |
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Experience : |
39 Years |
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Date of Appointment : |
04.04.1995 |
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PAN No.: |
ADQPD7938M |
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DIN No.: |
01317373 |
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Name : |
Mr. Nayan Dilip Doshi |
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Designation : |
Additional Director |
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Address : |
Flat-1, Samruddhi, 22 Altamount Road, Kemps Corner, Mumbai-400026, Maharashtra, India |
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Date of Birth/Age : |
06.10.1978 |
|
Date of Appointment : |
25.10.2013 |
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PAN No.: |
ASMPD2637C |
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DIN No.: |
06523030 |
KEY EXECUTIVES
|
Name : |
Mr. Rajesh S. |
|
Designation : |
Account Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2014
|
Names of Shareholders |
No. of Shares |
%age
holding |
|
Nayan Dilip Doshi |
1500000 |
12.50 |
|
Dilip Rasiklal Doshi |
7100000 |
59.17 |
|
Kalindi D. Doshi |
1900000 |
15.83 |
|
Vishaka Doshi |
1500000 |
12.50 |
|
Total |
12000000 |
100.00 |
Equity Share Break up (Percentage of Total Equity)
As on 30.09.2014
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Trader and Importer of Pens, Writing Instruments, Belts, Wallets and
Leather Designer Bags. |
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|
|
|
Products : |
·
Pens ·
Writing Instruments ·
Belts ·
Wallets ·
Leather Designer Bags |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
Not Available |
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Imports : |
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Countries : |
·
Germany ·
Korea |
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Terms : |
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Selling : |
Cash, Credit (30/60/90 Days) |
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Purchasing : |
Cash, Credit (30/60/90 Days) |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
50 (Approximately) |
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Bankers : |
Indusind Bank Limited, Indusind House 425, D B Marg, Opera House, Mumbai - 400004, Maharashtra, India |
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Facilities : |
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Auditors : |
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Name : |
Kalaria and Sampat Chartered Accountants |
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Address : |
302-305, Star Avenue, Dr. Radhakrishna Road, Opposite Rajkumar college, Rajkot -360001, Gujarat, India |
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PAN N Income-tax PAN of auditor or auditor's firm : |
AACFK2045F |
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Memberships : |
-- |
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Collaborators : |
-- |
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Associates : |
· Entrack Heritage Products Private Limited · Entrack Organic Haus Private Limited |
CAPITAL STRUCTURE
As on 30.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
12,000,000 |
Equity Shares |
Rs.10/- each |
Rs. 120.000 Million |
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|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
12,000,000 |
Equity Shares |
Rs.10/- each |
Rs. 120.000 Million |
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|
|
|
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 |
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|
|
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(a) Share Capital |
120.000 |
120.000 |
120.000 |
|
(b) Reserves & Surplus |
158.083 |
170.339 |
155.460 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
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|
|
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|
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(2) Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
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Total Shareholders’
Funds (1) + (2) |
278.083 |
290.339 |
275.460 |
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(3)
Non-Current Liabilities |
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|
|
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(a) long-term borrowings |
2.383 |
9.212 |
166.489 |
|
(b) Deferred tax liabilities (Net) |
13.984 |
25.848 |
25.080 |
|
(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) |
16.367 |
35.060 |
191.569 |
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(4) Current Liabilities |
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(a) Short term borrowings |
564.024 |
572.023 |
387.500 |
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(b) Trade payables |
191.280 |
109.074 |
178.103 |
|
(c) Other current
liabilities |
73.407 |
60.177 |
70.776 |
|
(d) Short-term provisions |
5.322 |
13.971 |
4.964 |
|
Total Current Liabilities (4) |
834.033 |
755.245 |
641.343 |
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|
|
|
|
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TOTAL |
1128.483 |
1080.644 |
1108.372 |
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|
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II.
ASSETS |
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(1) Non-current assets |
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(a) Fixed Assets |
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(i) Tangible assets |
260.867 |
252.738 |
265.461 |
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(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
0.000 |
4.237 |
0.000 |
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(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
97.275 |
88.413 |
94.845 |
|
(e) Other Non-current assets |
16.174 |
47.488 |
79.445 |
|
Total Non-Current Assets |
374.316 |
392.876 |
439.751 |
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|
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|
|
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(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
494.851 |
494.090 |
553.433 |
|
(c) Trade receivables |
53.481 |
66.512 |
46.708 |
|
(d) Cash and cash
equivalents |
51.687 |
49.884 |
46.213 |
|
(e) Short-term loans and
advances |
154.148 |
77.282 |
22.267 |
|
(f) Other current assets |
0.000 |
0.000 |
0.000 |
|
Total Current Assets |
754.167 |
687.768 |
668.621 |
|
|
|
|
|
|
TOTAL |
1128.483 |
1080.644 |
1108.372 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
1051.288 |
1110.864 |
955.872 |
|
|
|
Other Income |
11.013 |
24.855 |
20.511 |
|
|
|
TOTAL (A) |
1062.301 |
1135.719 |
976.383 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL (B) |
936.194 |
943.949 |
791.236 |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (C) |
126.107 |
191.770 |
185.147 |
|
|
|
|
|
|
|
|
|
Less |
INTEREST AND FINANCIAL
CHARGES (D) |
92.263 |
114.991 |
142.970 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION
(C-D) (E) |
33.844 |
76.779 |
42.177 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/ AMORTISATION (F) |
53.596 |
54.313 |
30.312 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX (E-F) (G) |
(19.752) |
22.466 |
11.865 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
(7.497) |
7.588 |
4.128 |
|
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|
|
PROFIT/ (LOSS)
AFTER TAX (G-H) (I) |
(12.255) |
14.878 |
7.737 |
|
|
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|
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|
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|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
163.890 |
149.011 |
NA |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
151.635 |
163.890 |
NA |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
16.110 |
23.593 |
0.270 |
|
|
|
|
|
|
|
|
|
|
Earnings / (Loss) Per Share (Rs.) |
(1.02) |
1.23 |
0.64 |
|
|
Particulars |
|
|
31.03.2015 |
|
Sales Turnover (Approximately) |
|
|
850.000 |
|
|
|
|
(Due to Market
Down) |
The above information has been parted by Mr. Rajesh S. (Accounts
Manager)
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current Maturities of Long term debt |
3.285 |
9.417 |
19.870 |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net cash flows from (used in) operation |
134.108 |
200.711 |
357.461 |
|
Net cash flows from (used in) operating activities |
130.944 |
195.856 |
355.970 |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
(1.17) |
1.34 |
0.81 |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
12.00 |
17.26 |
19.37 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(1.75) |
2.09 |
1.07 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.07) |
0.08 |
0.04 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
2.05 |
2.03 |
2.08 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.90 |
0.91 |
1.04 |
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 |
155.460 |
170.339 |
158.083 |
|
Net
worth |
275.460 |
290.339 |
278.083 |
|
|
|
|
|
|
long-term borrowings |
166.489 |
9.212 |
2.383 |
|
Short term borrowings |
387.500 |
572.023 |
564.024 |
|
Current Maturities Of
Long-Term Debts |
19.870 |
9.417 |
3.285 |
|
Total
borrowings |
573.859 |
590.652 |
569.692 |
|
Debt/Equity
ratio |
2.083 |
2.034 |
2.049 |
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 |
955.872 |
1110.864 |
1051.288 |
|
|
|
16.215 |
-5.363 |
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 |
955.872 |
1110.864 |
1051.288 |
|
Profit |
7.737 |
14.878 |
(12.255) |
|
|
0.81% |
1.34% |
(1.17%) |
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 |
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) |
Yes |
|
16] |
No. of employees |
Yes |
|
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 four years |
Yes |
|
27] |
Reasons for variation <> 20% |
Yes |
|
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 |
Yes |
|
35] |
Negative Reporting by Auditors in the
Annual Report |
No |
UNSECURED LOAN
|
PARTICULARS |
31.03.2014 (Rs.
in Million) |
31.03.2013 (Rs.
in Million) |
|
Long-term
Borrowings |
|
|
|
Rupee term loans from banks |
1.383 |
0.000 |
|
Rupee term loans from others |
0.000 |
0.962 |
|
Loans and advances from related parties |
1.000 |
8.250 |
|
Short-term
borrowings |
|
|
|
Loans repayable on demand from banks |
4.095 |
9.290 |
|
Intercorporate borrowings |
200.969 |
160.000 |
|
Total |
207.447 |
178.502 |
OPERATIONS:
During the year, the company reported marginally lower total revenue of Rs. 1051.287 Million as against Rs. 1110.864 Million in the previous year. This along with higher employees costs and lower other income has led to the company reporting a loss of Rs. 12.255 Million as against a net profit of Rs. 14.878 Million in the previous year.
TERMINATION OF
MONTBLANC BUSINESS:
The company has been one of the Pioneers in the luxury goods segment bringing into India the world renowned International Luxury Writing instrument Brand Montblanc in the year 1997. After more than 15 years of relationship, Montblanc has decided to terminate the Distribution Agency.
The company has received the drafts of the termination of distribution agreement and asset purchase agreement sent by Montblanc / Richemont but the same has been resented by the Company's Chairman Mr. Dilip Doshi as the goodwill offered for the business and the valuation offered for the assets of the company have been found quite unfair and unreasonable. The company has sought legal opinion to challenge the purported termination of the distribution agreement and asset purchase agreement and also to claim financial losses.
Meanwhile the Directors have been endeavoring to explore the potential and opportunities to diversify the business of the company by bringing into India other world class Brands for distribution in the Indian territory.
MERGER:
During the year, an application has been submitted to the Honorable High Court of Gujarat at Ahmedabad for the Scheme of Amalgamation of the company and Entrack Organic Haus Private Limited. Entrack Organic Haus Private Limited is also promoted by the Chairman Mr. Dilip Doshi and common shareholders. It is engaged in importing and selling Organic Food Products
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10424853 |
13/05/2009 |
140,000,000.00 |
INDUSIND BANK LIMITED |
INDUSIND HOUSE 425, D B Marg, OPERA HOUSE, MUMBAI, Maharashtra - 400004,
INDIA |
B62972021 |
|
2 |
10413536 |
04/04/2009 |
140,000,000.00 |
INDUSIND BANK LIMITED |
INDUSIND HOUSE 425, D B Marg,, OPERA HOUSE, MUMBAI, Maharashtra -
400004, INDIA |
B62972195 |
|
3 |
90108133 |
19/07/2012 * |
690,000,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W |
B44999555 |
* Date of charge modification
FIXED ASSETS
· Land
· Building
· Vehicle
· Computers
· Furniture and fixture
· Plant and machinery
· 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 o 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.66.38 |
|
|
1 |
Rs.101.45 |
|
Euro |
1 |
Rs.70.55 |
INFORMATION DETAILS
|
Information
Gathered by : |
PPT |
|
|
|
|
Analysis Done by
: |
KAS |
|
|
|
|
Report Prepared
by : |
JYTK |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILITY |
1~10 |
-- |
|
--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 |
|
43 |
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.