MIRA INFORM REPORT
|
Report No. : |
344219 |
|
Report Date : |
08.10.2015 |
IDENTIFICATION DETAILS
|
Name : |
FACES COSMETICS INDIA PRIVATE LIMITED (w.e.f. 25.08.2008) |
|
|
|
|
Formerly Known
As : |
ROSE
PETAL REALTY AND ESTATES PRIVATE LIMITED |
|
|
|
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Registered
Office : |
One Indiabulls Center, 16th Floor, Tower 2A, Senapati Bapat Marg, Elphinstone Road, Mumbai -400013, Maharashtra |
|
Tel. No.: |
91-124-6650014 |
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|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
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|
|
|
Date of
Incorporation : |
09.06.2007 |
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|
|
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Com. Reg. No.: |
11-171497 |
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|
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Capital
Investment / Paid-up Capital : |
Rs.17.336 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U45400MH2007PTC171497 |
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|
|
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IEC No.: |
0308068670 |
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|
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TAN No.: [Tax Deduction &
Collection Account No.] |
MUMR22247B |
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|
|
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PAN No.: [Permanent Account No.] |
AADCB7243N |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Subject is primarily engaged in the business of selling its cosmetics
product such as color cosmetics, skin care, anti-aging products,
personal care accessories and other lifestyle products to various
distributors and retailers on whole sales basis. |
|
|
|
|
No. of Employees
: |
100 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (42) |
|
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 |
|
|
|
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Litigation : |
Clear |
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Comments : |
Subject is a 100% subsidiary of Faces Cosmetics Limited, Canada. It is
engaged in the production, wholesale and retail of cosmetics, skin care,
anti-aging and spa products under the Faces brand name. It has satisfactory
track. During the year the company has continued to witness strong business
growth in core color cosmetics business. However, it scaled back its
Accessories division due to which the overall revenues declined as compared
to FY13. The company initiated certain action plans in FY14 to reduce
operating expenses. It continues to selectively open profitable own stores at
the same time churning out the unprofitable ones. The company receives strong managerial and financial support from its
holding company along with healthy market distribution. Trade relations are fair. Business is active. Payments are slow but correct. The company can be considered for business dealings at 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. Pankaj Bhardwaj |
|
Designation : |
Chief Financial Officer |
|
Contact No.: |
91-124-6650014 |
|
Date : |
07.10.2015 |
LOCATIONS
|
Registered Office : |
One Indiabulls Center, 16th Floor, Tower 2A, Senapati Bapat Marg, Elphinstone Road, Mumbai -400013, Maharashtra, India |
|
Tel. No.: |
91-22-40436000 |
|
Fax No.: |
91-22-40436068 |
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E-Mail : |
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|
Website : |
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|
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Corporate Office : |
1004, 10th Floor, Park Centre, NH-8, Sector – 30, Gurgaon –
122001, Haryana, India |
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Tel. No.: |
91-124-6650014 |
|
|
|
|
Warehouse : |
Located At :
|
DIRECTORS
AS ON 04.12.2014
|
Name : |
Mr. Vishal Sharma |
|
Designation : |
Additional Director |
|
Address : |
Sp-11, Bhabha Marg,, Tilak Nagar, Jaipur - 302004, Rajasthan, India |
|
Date of Appointment : |
04.12.2014 |
|
DIN No.: |
01599024 |
|
|
|
|
Name : |
Mr. Deep Mishra |
|
Designation : |
Director |
|
Address : |
# 202, 2nd Floor, Canterbury Castle, # 232, 3rd Main, Defence Colony, Indiranagar, Bangalore - 560038, Karnataka, India |
|
Date of Birth/Age : |
21.07.1972 |
|
Date of Appointment : |
01.08.2013 |
|
DIN No.: |
02249582 |
KEY EXECUTIVES
|
Name : |
Mr. Pankaj Bhardwaj |
|
Designation : |
Chief Financial Officer |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 04.12.2014
|
Names of Shareholders |
|
No. of Shares |
|
Faces Cosmetics Inc, Canada |
|
1792594 |
|
Deep Mishra |
|
13 |
|
Total |
|
1792607 |
AS ON 08.01.2015
|
Names of Allottee |
|
No. of Shares |
|
Faces Cosmetics Inc, Canada |
|
36865 |
|
Total |
|
36865 |
Equity Share Break up (Percentage of Total Equity)
AS ON 04.12.2014
|
Category |
Percentage |
|
|
|
|
Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s), Non-resident
Indian(s) or Overseas Corporate bodies or Others |
99.99927 |
|
Directors or relatives of directors |
0.00073 |
|
Total |
100.00000 |
BUSINESS DETAILS
|
Line of Business : |
Subject is primarily engaged in the business of selling its cosmetics
product such as color cosmetics, skin care, anti-aging products, personal
care accessories and other lifestyle products to various distributors and
retailers on whole sales basis. |
|
|
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|
Products : |
|
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|
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|
Brand Names : |
FACES |
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Agencies Held : |
Not Available |
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Exports : |
Not Available |
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Imports : |
|
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Products : |
Finished Goods |
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Countries : |
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Terms : |
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Selling : |
Cash and Credit |
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Purchasing : |
Cash and Credit |
PRODUCTION STATUS - NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
100 (Approximately) |
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Bankers : |
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Facilities : |
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Auditors : |
|
|
Name : |
S. R. Batliboi and Associates LLP Chartered Accountants |
|
Address : |
Golf View Corporate Tower-B, Sector 42, Sector Road, Gurgaon – 122002,
Haryana, India |
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PAN No.: |
AABFS3421N |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Ultimate Holding Company : |
Faces Cosmetics Limited |
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Parent of parent company*/ Entity under common control**: |
Faces Holding Inc. |
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Parent company/ Entity under common control**: |
Faces Cosmetics Inc. |
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Entity under common control** : |
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Note :
*Subsidiary of Faces Cosmetics Limited
** Subsidiary of Faces
Holding Inc.
CAPITAL STRUCTURE
AFTER 04.12.2014
Authorised Capital :
Rs.22.500 Million
Issued, Subscribed & Paid-up Capital : Rs.19.818 Million
AS ON 04.12.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2,000,000 |
Equity Shares |
Rs.10/- each |
Rs.20.000 Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1,792,607 |
Equity Shares |
Rs.10/- each |
Rs.17.926 Million |
AS ON 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2,000,000 |
Equity Shares |
Rs.10/- each |
Rs.20.000 Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1733607 |
Equity Shares |
Rs.10/- each |
Rs.17.336 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 |
17.336 |
16.276 |
12.929 |
|
(b) Reserves &
Surplus |
42.387 |
173.282 |
141.681 |
|
(c) Money received
against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application
money pending allotment |
0.000 |
10.000 |
0.000 |
|
Total Shareholders’ Funds
(1) + (2) |
59.723 |
199.558 |
154.610 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
0.655 |
1.462 |
2.198 |
|
(b) Deferred tax
liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
2.295 |
2.042 |
3.018 |
|
Total Non-current
Liabilities (3) |
2.950 |
3.504 |
5.216 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
60.000 |
0.000 |
0.000 |
|
(b) Trade payables |
47.079 |
37.502 |
31.918 |
|
(c) Other current
liabilities |
48.808 |
29.965 |
32.309 |
|
(d) Short-term provisions |
8.528 |
8.448 |
3.709 |
|
Total Current Liabilities
(4) |
164.415 |
75.915 |
67.936 |
|
|
|
|
|
|
TOTAL |
227.088 |
278.977 |
227.762 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
37.657 |
46.435 |
41.655 |
|
(ii) Intangible Assets |
1.062 |
2.120 |
0.635 |
|
(iii) Capital
work-in-progress |
0.000 |
0.000 |
0.000 |
|
(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 |
9.362 |
9.577 |
0.000 |
|
(e) Other Non-current
assets |
0.354 |
0.330 |
0.101 |
|
Total Non-Current Assets |
48.435 |
58.462 |
42.391 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
36.246 |
62.822 |
60.262 |
|
(c) Trade receivables |
107.991 |
138.223 |
97.476 |
|
(d) Cash and cash
equivalents |
2.559 |
1.922 |
0.575 |
|
(e) Short-term loans and
advances |
31.857 |
17.548 |
27.052 |
|
(f) Other current assets |
0.000 |
0.000 |
0.006 |
|
Total Current Assets |
178.653 |
220.515 |
185.371 |
|
|
|
|
|
|
TOTAL |
227.088 |
278.977 |
227.762 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Income |
274.499 |
346.089 |
283.097 |
|
|
Other Income |
|
|
|
|
|
TOTAL |
274.499 |
346.089 |
283.097 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
TOTAL |
442.903 |
|
333.561 (Including financial and
depreciation expenses) |
|
|
|
|
|
|
|
Less |
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION |
(168.404) |
(113.019) |
|
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
3.924 |
0.232 |
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION |
(172.328) |
(113.251) |
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
10.507 |
19.109 |
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, PRIOR PERIOD ITEMS |
(182.835) |
(132.360) |
(50.464) |
|
|
|
|
|
|
|
Less/ Add |
PRIOR PERIOD ITEMS |
0.000 |
0.000 |
1.217 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
(182.835) |
(132.360) |
(51.681) |
|
|
|
|
|
|
|
Less |
TAX |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
(182.835) |
(132.360) |
(51.681) |
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’ BALANCE
BROUGHT FORWARD |
(334.808) |
(202.448) |
(150.767) |
|
|
|
|
|
|
|
|
Balance Carried to the
B/S |
(517.643) |
(334.808) |
(202.448) |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
0.353 |
0.000 |
0.212 |
|
|
TOTAL EARNINGS |
0.353 |
0.000 |
0.212 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Capital Goods |
0.280 |
0.358 |
0.830 |
|
|
Trading goods |
0.000 |
78.384 |
74.439 |
|
|
TOTAL
IMPORTS |
0.280 |
78.742 |
75.269 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (Rs.) |
(107.00) |
(93.00) |
(49.00) |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current Maturities of Long term debt |
0.806 |
0.736 |
0.671 |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net cash flow from (used in) operations |
NA |
NA |
NA |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Total Income) |
(%) |
(66.61) |
(38.24) |
(18.26) |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/ Total Income) |
(%) |
(61.35) |
(32.66) |
NA |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(80.51) |
(47.44) |
(22.69) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(3.06) |
(0.66) |
(0.33) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
1.03 |
0.01 |
0.02 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.09 |
2.90 |
2.73 |
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 |
12.929 |
16.276 |
17.336 |
|
Reserves & Surplus |
141.681 |
173.282 |
42.387 |
|
Share Application money
pending allotment |
0.000 |
10.000 |
0.000 |
|
Net worth |
154.610 |
199.558 |
59.723 |
|
|
|
|
|
|
long-term borrowings |
2.198 |
1.462 |
0.655 |
|
Short term borrowings |
0.000 |
0.000 |
60.000 |
|
Current Maturities of
Long Term Debt |
0.671 |
0.736 |
0.806 |
|
Total borrowings |
2.869 |
2.198 |
61.461 |
|
Debt/Equity ratio |
0.019 |
0.011 |
1.029 |
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 |
283.097 |
346.089 |
274.499 |
|
|
|
22.251 |
(20.685) |
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 |
283.097 |
346.089 |
274.499 |
|
Profit/Loss |
(51.681) |
(132.360) |
(182.835) |
|
|
(18.26%) |
(38.24%) |
(66.61%) |
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 |
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) |
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 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 |
Yes |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
NOTE
The registered office of the company has been shifted from FCH House, Peninsula Corporate Park, Ganpatrao Kadam Marg, Lower Parel, Mumbai - 400013, Maharashtra, India to the present address w.e.f. 01.12.2011.
CORPORATE INFORMATION
Subject is 100% subsidiary of Faces Cosmetics Inc. ('the parent company') which in turn is a subsidiary of Faces Holdings Inc. ('the parent of parent company') which in turn is a subsidiary of Faces Cosmetics Limited ('the ultimate holding company').
The Company is primarily engaged in the business of selling its cosmetics product to various distributors and retailers on whole sales basis. The product in which the Company deals includes color cosmetics, skin care, anti-aging products, personal care accessories and other lifestyle products.
YEAR UNDER REVIEW
The year continued to witness strong business growth in the core colour cosmetics business. However, the Company scaled back its Accessories division during the year due to which the overall revenues declined as compared to FY13. The Company initiated certain action plans in FY14 to reduce operating expenses and it will be a few more quarters before the business is able to turn cash flow positive. The Company continues to selectively open profitable own stores and shop-in-shops while at the same time churning out the unprofitable ones.
The Directors are cautiously optimistic about the growth prospects of the Company.
UNSECURED LOAN
|
Particulars |
31.03.2014 (Rs.
in Million) |
31.03.2013 (Rs.
in Million) |
|
Short-term
borrowings |
|
|
|
18% loans from Essay Commercial Resources Private Limited |
40.000 |
0.000 |
|
18% loans from Mays Commercial Private Limited |
20.000 |
0.000 |
|
Total |
60.000 |
0.000 |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
10587190 |
29/07/2015 |
5,000,000.00 |
HDFC BANK LIMITED |
2ND FLOOR, BLOCK - A,VATIKA ATRIUM, GOLF COURSE |
C62243407 |
FIXED ASSETS
- Office Equipment
- Computer and Peripherals
- Furniture and Fixtures
- Vehicle
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.65.26 |
|
|
1 |
Rs.99.53 |
|
Euro |
1 |
Rs.73.47 |
INFORMATION DETAILS
|
Information
Gathered by : |
DPA |
|
|
|
|
Analysis Done by
: |
TRS |
|
|
|
|
Report Prepared
by : |
SNT |
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 |
2 |
|
--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 |
|
42 |
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.