MIRA INFORM REPORT

 

 

Report No. :

345192

Report Date :

15.10.2015

 

IDENTIFICATION DETAILS

 

Name :

JEANS KNIT PRIVATE LIMITED

 

 

Registered Office :

21, E1 2nd Phase, Industrial Area, Peenya, Bangalore – 560058, Karnataka

Tel. No.:

91-80-42865000

 

 

Country :

India

 

 

Financials (as on) :

31.03.2014

 

 

Date of Incorporation :

20.09.2004

 

 

Com. Reg. No.:

08-034722

 

 

Capital Investment / Paid-up Capital :

Rs.0.100 Million

 

 

CIN No.:

[Company Identification No.]

U18101KA2004PTC034722

 

 

IEC No.:

3904002601

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

Not Available

 

 

PAN No.:

[Permanent Account No.]

AABCJ4513B

 

 

Legal Form :

Private Limited Liability Company.

 

 

Line of Business :

Manufacturer and Exporter of Readymade Garments.

 

 

No. of Employees :

Information declined by the management  

 

 

RATING & COMMENTS

 

MIRA’s Rating :

A (61)

 

RATING

STATUS

PROPOSED CREDIT LINE

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

 

Maximum Credit Limit :

USD 10463000

 

 

Status :

Good

 

 

Payment Behaviour :

Regular

 

 

Litigation :

Exists

 

 

Comments :

Subject was set up in 2004 by Mr. Anupam Kothari, who has been in the Readymade Garments (RMG) segment for over two decades. The company’s operations include cutting, stitching washing and processing. It has six manufacturing units in Bengaluru (Karnataka) and Chennai (Tamilnadu). It has fine track record.

 

The rating takes into consideration robust financial risk profile marked by strong networth and strong debt protection metrics.

 

Trade relations are reported as fair. Business is active. Payments are reported to be regular and as per commitment.

 

In view of established market position and healthy operating efficiency in the denim export market, the company can be considered good for normal 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.

 

 

 

 

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 A

Rating Explanation

Have adequate degree of safety and carry low credit risk.

Date

February 09, 2015

 

 

Rating Agency Name

CRISIL

Rating

Short term rating A1

Rating Explanation

Have very strong degree of safety and carry lowest credit risk.

Date

February 09, 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 BY

 

Name :

Mr. Sunil Sachdev

Designation :

Chief Financial Officer

Contact No.:

91-80-42865000

Date :

14.10.2015

 

 

 

LOCATIONS

 

Registered Office / Factory  :

21, E1 2nd Phase, Industrial Area, Peenya, Bangalore – 560058, Karnataka, India

Tel. No.:

91-80-28397511 / 42865000 / 42865100 / 42865200

Fax No.:

91-80-28398320 / 28371237

E-Mail :

ffi@fibresnfabrics.com

hussaini@fibresnfabrics.com

nagesh@fibresnfabrics.com

Website :

www.fibresnfabrics.com

Location :

Owned

 

 

Factory :

No 485/2, 13th Cross, 4th Phase, Peenya Industrial Area, Bangalore – 560058, Karnataka, India

 

 

DIRECTORS

 

AS ON on 30.09.2014

 

Name :

Mrs. Laxmi Narayan Gaur 

Designation :

Additional Director

Address :

Flat No 704, BLKB, 7th Floor, Renaissance Bells, Oppiskon Temple West Chord Road, Toyota Show Room, Bangalore - 560022, Karnataka, India

Date of Birth/Age :

21.10.1956

Date of Appointment :

30.09.2010

PAN No.:

ABGPG5519F

DIN No.:

00167068

Other Directorship:

 

S.No.

CIN/LLPIN

Name of the Company/ LLP

Current designation of the Director/ Designated Partner

Date of appointment at current designation

Original date of appointment

Date of cessation

Company/ LLP Status

Defaulting status

1

U18101KA2007PTC042723

Doctor Denim Textiles Private Limited

Director

07-05-2007

07-05-2007

-

Strike off

NO

2

U18101KA2002PTC030686

FIBRES AND FABRICS INTERNATIONAL PRIVATE LIMITED

Managing director

18-01-2013

21-12-2009

-

Active

NO

3

U18101KA2004PTC034722

JEANS KNIT PRIVATE LIMITED

Director

30-09-2010

21-12-2009

-

Active

NO

4

U17120KA2013PTC070592

FFI FASHIONS PRIVATE LIMITED

Director

19-08-2013

19-08-2013

-

Active

NO

 

Name :

Mr. Jacqueline Antonette Thomas

Designation :

Alternate Director

Address :

424, 8th D Main, 4th Cross HRBR Layout, Banasawadi Extension, Bangalore – 560043, Karnataka, India   

Date of Birth/Age :

28.04.1973

Date of Appointment :

12.01.2007

PAN No. :

ACTPT7231P

DIN No.:

00926874

Other Directorship:

 

S.No.

CIN/LLPIN

Name of the Company/ LLP

Current designation of the Director/ Designated Partner

Date of appointment at current designation

Original date of appointment

Date of cessation

Company/ LLP Status

Defaulting status

1

U18101KA2002PTC030686

FIBRES AND FABRICS INTERNATIONAL PRIVATE LIMITED

Alternate director

12-01-2007

14-08-2006

-

Active

NO

2

U18101KA2004PTC034722

JEANS KNIT PRIVATE LIMITED

Alternate director

12-01-2007

14-08-2006

-

Active

NO

3

U17120KA2013PTC070592

FFI FASHIONS PRIVATE LIMITED

Director

19-08-2013

19-08-2013

-

Active

NO

 

Name :

Mr. Anupam Suryakant Kothari

Address :

Chateau Per Igord 13, Lacets Sint Leon, Monaco - 98000

Date of Birth/Age :

22.06.1967

Date of Appointment :

20.09.2004

PAN No.:

AEHPK9834K

DIN No.:

01696556

Other Directorship:

 

S.No.

CIN/LLPIN

Name of the Company/ LLP

Current designation of the Director/ Designated Partner

Date of appointment at current designation

Original date of appointment

Date of cessation

Company/ LLP Status

Defaulting status

1

U18101KA2002PTC030686

FIBRES AND FABRICS INTERNATIONAL PRIVATE LIMITED

Director

18-01-2013

27-06-2002

-

Active

NO

2

U18101KA2004PTC034722

JEANS KNIT PRIVATE LIMITED

Director

20-09-2004

20-09-2004

-

Active

NO

3

U17120KA2013PTC070592

FFI FASHIONS PRIVATE LIMITED

Director

19-08-2013

19-08-2013

-

Active

NO

 

 

KEY EXECUTIVES

 

Name :

Mr. Sunil Sachdev

Designation :

Chief Financial Officer

 

 

MAJOR SHAREHOLDERS

 

AS ON 30.09.2014

 

Names of Shareholders

No. of Shares

%age

Anupam Suryakant Kothari

10000

99.99

Jacqueline Antonette Thomas

1

0.01

 

 

 

Total

10001

100.00

 

 

Equity Share Break up (Percentage of Total Equity)

 

AS ON 30.09.2014

 

Category

Percentage of Holding

Directors or relatives of Directors

100.00

Total

100.00

 

 

BUSINESS DETAILS

 

Line of Business :

Manufacturer and Exporter of Readymade Garments.

 

 

Products :

Item Code No. (ITC Code)

Product Description

61142000

Other garment of cotton knitted or crocheted

 

 

Brand Names :

Not Available

 

 

Agencies Held :

Not Available

 

 

Exports :

Not Divulged

 

 

Imports :

Not Divulged

 

 

Terms :

Not Divulged

 

PRODUCTION STATUS: NOT AVAILABLE

 

GENERAL INFORMATION

 

Suppliers :

Reference :

Not Divulged

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Maximum Limit Dealt :

Not Divulged

Experience :

Not Divulged

Remark:

Not Divulged

 

 

Customers :

Reference :

Not Divulged

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Maximum Limit Dealt :

Not Divulged

Experience :

Not Divulged

Remark:

Not Divulged

 

 

No. of Employees :

Information declined by the management 

 

 

Bankers :
  • Standard Chartered Bank, No. 112, 'Serenity', Koramangala Industrial Area,5th Block, Koramangala, Bangalore - 560095,Karnataka, India
  • Standard Chartered Bank, Raheja Towers, Sixth Floor, No. 26 - 27, M. G. Road, Bangalore - 560001, Karnataka, India
  • The Hongkong And Shanghai Banking Corporation Limited, No. 7 M G Road, , Bangalore - 560001,Karnataka, India

 

 

Facilities :

(Rs. In Million)

 

SECURED LOAN

As on

31.03.2014

As on

31.03.2013

SHORT TERM BORROWING

 

 

Loans repayable on demand from banks

1076.602

1212.537

 

 

 

Total

1076.602

1212.537

 

Financial Institute:

The Hongkong and Shanghai Banking Corporation Limited, NO. 7 , Mahatma Gandhi Road, Bangalore - 560001, Karnataka, INDIA

 

 

Auditors :

 

Name :

A S A and Associates LLP

Chartered Accountants

Address :

A2, Ground Floor, Akruthi Antara Apartment, No.11/1, Haudin Road , Bangalore, Karnataka – 560042, West Bengal, India

PAN No. :

AAAFA4690A

 

 

Memberships :

--

 

 

Collaborators :

--

 

 

Associates :
  • Tintoria Astico S.R.L
  • Fibres and Fabrics Private Limited
  • FFI Global SRL

 

 

CAPITAL STRUCTURE

 

AS ON 30.09.2014

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

500000

Equity Shares

Rs.10/- each

Rs.5.000 Million

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

10001

Equity Shares

Rs.10/- each

Rs.0.100 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

0.100

0.100

0.100

(b) Reserves & Surplus

3662.269

3358.824

2930.230

(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)

3662.369

3358.924

2930.330

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

11.132

24.353

117.832

(b) Deferred tax liabilities (Net)

3.526

14.450

0.000

(c) Other long term liabilities

0.000

0.000

0.000

(d) long-term provisions

65.365

66.415

54.606

Total Non-current Liabilities (3)

80.023

105.218

172.438

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

1076.602

1212.537

669.387

(b) Trade payables

236.040

290.676

634.664

(c) Other current liabilities

222.961

236.723

274.876

(d) Short-term provisions

74.837

73.544

68.662

Total Current Liabilities (4)

1610.440

1813.480

1647.589

 

 

 

 

TOTAL

5352.832

5277.622

4750.357

 

 

 

 

II.            ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

1413.068

1591.699

1482.558

(ii) Intangible Assets

130.630

77.496

77.805

(iii) Capital work-in-progress

14.262

6.811

3.079

(iv) Intangible assets under development

0.000

47.281

27.009

(b) Non-current Investments

212.511

212.511

0.000

(c) Deferred tax assets (net)

0.000

0.000

0.000

(d)  Long-term Loan and Advances

629.440

606.599

18.938

(e) Other Non-current assets

0.000

0.000

486.367

Total Non-Current Assets

2399.911

2542.397

2095.756

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

1201.244

1338.103

1294.776

(c) Trade receivables

1555.684

1223.386

1114.692

(d) Cash and cash equivalents

34.240

19.348

86.244

(e) Short-term loans and advances

113.086

97.227

158.889

(f) Other current assets

48.667

57.161

0.000

Total Current Assets

2952.921

2735.225

2654.601

 

 

 

 

TOTAL

5352.832

5277.622

4750.357

 

PROFIT & LOSS ACCOUNT

 

 

 

PARTICULARS

31.03.2014

31.03.2013

31.03.2012

 

SALES

 

 

 

 

 

Income

4447.966

5708.213

5029.318

 

 

 

 

 

Less

EXPENSES

4105.870

5127.762

4250.140

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE TAX

342.096

580.451

779.178

 

 

 

 

 

Less

TAX                                                                 

38.651

151.857

157.589

 

 

 

 

 

 

PROFIT/ (LOSS)  AFTER TAX

303.445

428.594

621.589

 

 

 

 

 

 

EARNINGS IN FOREIGN CURRENCY

 

 

 

 

 

Export Earnings

NA

5170.093

4172.517

 

TOTAL EARNINGS

NA

5170.093

4172.517

 

 

 

 

 

 

Earnings / (Loss) Per Share (Rs.)

30341.46

42855.11

62152.68

 

 

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 flows from (used in) operations

404.846

257.010

643.433

 

 

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2014

31.03.2013

31.03.2012

Net Profit Margin

(PAT / Sales)

(%)

6.82

7.51

12.36

 

 

 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)

6.67

11.58

16.51

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

0.09

0.17

0.27

 

 

 

 

 

Debt Equity Ratio

(Total Debt /Networth)

 

0.30

0.37

0.27

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

1.83

1.51

1.61

 

 

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

0.100

0.100

0.100

Reserves & Surplus

2930.230

3358.824

3662.269

Net worth

2930.330

3358.924

3662.369

 

 

 

 

long-term borrowings

117.832

24.353

11.132

Short term borrowings

669.387

1212.537

1076.602

Total borrowings

787.219

1236.890

1087.734

Debt/Equity ratio

0.269

0.368

0.297

 

 

 

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

5029.318

5708.213

4447.966

 

 

13.499

(22.078)

 

 

 

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

5029.318

5708.213

4447.966

Profit

621.589

428.594

303.445

 

12.36%

7.51%

6.82%

 

 

 

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)

No

16

No. of employees

No

17

Details of sister concerns

No

18

Major suppliers

No

19

Major customers

No

20

Banking Details

Yes

21

Banking facility details

No

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

Yes

33

Market information

--

34

Payments terms

No

35

Negative Reporting by Auditors in the Annual Report

No

 

 

LITIGATION DETAILS

 

 

CASE PENDING

 

High Court of Karnataka -Bangalore Bench

ITA 383/2012

 

Petitioner/Appnt. Name

THE DIRECTOR OF INCOME -TAX

Respondent/Defnt. Name

M/S JEANS KNIT PVT LTD

Petnr./Appnt. Advocate

K V ARAVIND

Respnt./Defnt. Advocate

Date Filed

20/11/2012

Classification

District

Bangalore City

 

Stage

HEARING

Last Posted For

ORDERS

Last Action Taken

ADMIT/RULE

Last Date of Action

01/03/2013

Next Hearing Date

25/04/2013

Latest Order

Before Hon'ble Judge/s

REGISTRAR (JUDICIAL)

 

Lower Court Details [Appeal from below case.]

Case No

Court Name

Disposal Dt

ITA 19/2010

INCOME -TAX APPELLATE TRIBUNAL BANGALORE

29/06/2012

 

Details of the Daily Order 
(Click on date of order to get full order)

 

Sl No

Honble Judge

Date of Order

1

HONBLE DVSKJ and BSGJ

01.03.2013

 

 

UNSECURED LOANS

 

PARTICULAR

31.03.2014

(Rs. In Millions)

31.03.2013

(Rs. In Millions)

LONG TERM BORROWINGS

 

 

Loans and advances from directors

11.132

24.353

 

 

 

Total

11.132

24.353

 

 

INDEX OF CHARGES

 

S.NO.

CHARGE ID

DATE OF CHARGE CREATION/MODIFICATION

CHARGE AMOUNT SECURED

CHARGE HOLDER

ADDRESS

SERVICE REQUEST NUMBER (SRN)

1

10561691

14/02/2015

500,000,000.00

INDUSIND BANK LTD.

2401 GEN THIMMAYYA ROAD, CONTONMENT, PUNE, MAHARA 
SHTRA - 411001, INDIA

C50177807

2

10543740

25/08/2015 *

233,000,000.00

STANDARD CHARTERED BANK

NO. 112, 3RD FLOOR, VAISHNAVI SERENITY,, INDUSTRI 
AL AREA, 5TH BLOCK, KORAMANGALA, BANGALORE- 560095, KARNATAKA, INDIA

C62472477

3

10340933

22/02/2013 *

350,000,000.00

STANDARD CHARTERED BANK

NO. 112, 'SERENITY', KORAMANGALA INDUSTRIAL AREA, 
5TH BLOCK, KORAMANGALA KORAMANGALA, BANGALORE, KARNATAKA - 560058, INDIA

B69643237

4

10220268

13/03/2013 *

1,200,000,000.00

STANDARD CHARTERED BANK

NO. 112, 'SERENITY', KORAMANGALA INDUSTRIAL AREA, 
5TH BLOCK, KORAMANGALA, BANGALORE, KARNATAKA - 560095, INDIA

B71017743

 

* Date of charge modification

 

 

FIXED ASSETS

 

 

 

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.62.02

UK Pound

1

Rs.99.89

Euro

1

Rs.73.92

 

 

INFORMATION DETAILS

 

Information Gathered by :

SUP

 

 

Analysis Done by :

RAS

 

 

Report Prepared by :

GTA

 

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

7

PAID-UP CAPITAL

1~10

7

OPERATING SCALE

1~10

6

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

6

--PROFITABILITY

1~10

7

--LIQUIDITY

1~10

7

--LEVERAGE

1~10

7

--RESERVES

1~10

7

--CREDIT LINES

1~10

7

--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

NO

--LISTED

YES/NO

NO

--OTHER MERIT FACTORS

YES/NO

YES

DEFAULTER

 

 

--RBI

YES/NO

NO

--EPF

YES/NO

NO

TOTAL

 

61

 

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

 

--

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.