MIRA INFORM REPORT
|
Report No. : |
339219 |
|
Report Date : |
03.09.2015 |
IDENTIFICATION DETAILS
|
Name : |
COUNT N DENIER EXIM LIMITED (w.e.f.03.11.2014) |
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|
|
|
Formerly Known
As : |
COUNT
N DENIER EXIM PRIVATE LIMITED |
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Registered
Office : |
201, Sharda Bhavannanda Patkar Marg, Nehru Road, Vile
Parle (East), Mumbai – 400057, Maharashtra |
|
Mob. No.: |
91-22-26172220 |
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|
|
|
Country : |
India |
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Financials (as
on) : |
31.03.2014 |
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|
|
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Date of
Incorporation : |
29.07.2003 |
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|
|
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Com. Reg. No.: |
11-141519 |
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|
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Capital
Investment / Paid-up Capital : |
Rs. 30.000 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U52322MH2003PLC141519 |
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|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMC13056B |
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|
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PAN No.: [Permanent Account No.] |
AACCCC2005N |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Trader of Cotton and Yarn. |
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|
|
|
No. of Employees
: |
Information denied by management |
RATING & COMMENTS
|
MIRA’s Rating : |
B (30) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate track record. This rating reflects company’s modest scale of operations in the
intensely competitive textile trading space, average financial risk profile
and moderate debt protection metrics. However, this rating strength is partially offset by extensive
experience of promoters in the textile industry and established track record
of the company. Trade relations are fair. Business is active. Payment terms are
reported to be slow but correct. The company can be considered for business dealings with some
cautions. NOTE: Balance Figures for the FY-2014, does not tally our executive has
contacted the concern person of the company but he has denied to provide any
clarification for the same. |
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 |
CRISIL |
|
Rating |
Long term bank facilities = BB- |
|
Rating Explanation |
Inadequate-credit-quality and high credit risk |
|
Date |
17.06.2015 |
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
31-03-2013.
INFORMATION DECLINED
MANAGEMENT NON CO-OPERATIVE
(TEL. NO.: 91-22-26172220)
LOCATIONS
|
Registered Office : |
201, Sharda Bhavannanda Patkar Marg, Nehru Road, Vile
Parle (East), Mumbai – 400057, Maharashtra, India |
|
Tel. No.: |
91-22-26172220/ 26172240/ 26172370 |
|
Fax No.: |
91-22-26172240 |
|
E-Mail : |
|
|
Website : |
DIRECTORS
AS ON 30.09.2014
|
Name : |
Mr. Anil Babulal Agrawal |
|
Designation : |
Director |
|
Address : |
102, Malhar Tower, Yashodham, Goregoan (East), Mumbai - 400063, Maharashtra, India |
|
Date of Birth/Age : |
02.05.1965 |
|
Date of Appointment : |
29.07.2003 |
|
DIN No.: |
00749002 |
|
|
|
|
Name : |
Mrs. Deepa Anil Agrawal |
|
Designation : |
Director |
|
Address : |
102, Malhar Tower, Yashodham, A.K. Vaidhya Marg, Goregoan (East), Mumbai - 400063, Maharashtra, India |
|
Date of Birth/Age : |
11.05.1970 |
|
Date of Appointment : |
03.10.2013 |
|
DIN No.: |
00439563 |
|
|
|
|
Name : |
Mr. Rajeshpal Hansraj Thaman |
|
Designation : |
Additional director |
|
Address : |
A-702, Aditya Tower Co-Operative Housing Society, Chandavarkar Road, Borivali (West), Mumbai - 400092, Maharashtra, India |
|
Date of Birth/Age : |
23.03.1962 |
|
Date of Appointment : |
01.10.2013 |
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DIN No.: |
06645407 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2014
|
Names of Shareholders |
No. of Shares |
|
Anil Agrwal |
2115000 |
|
Deepa Agrwal |
715000 |
|
Nikunj Kothari (HUF) |
80000 |
|
Ruchi Tulsiyan |
50000 |
|
Bhavesh Shah |
20000 |
|
Ratna Dwivedi |
10000 |
|
Cheenu Sharma |
10000 |
|
|
|
|
Total |
3000000 |
AS ON 30.09.2014
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Directors
or relatives of directors |
100.00 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Trader of Cotton and Yarn. |
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Brand Names : |
-- |
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Agencies Held : |
-- |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
Not Divulged |
PRODUCTION STATUS; NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
· Bodhesh Trade-Invest Private Limited · Dev Traders · Golden Star · Lahoti Overseas Limited · Le Merite Export Private Limited · Mahavir Threads Private Limited · Narmina Trade – Invest Private Limited · Ahan Apparel Private Limited |
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Customers : |
· Aditya Enterprises (Sales) · Pasupati Fabrics Limited (Trading) · Gimatex Industries Private Limited · GPI Textiles Limited · Kores (India) Limited · Mid India Ind Limited · PVR Spinning and Weaving Mills Limited · Revel Comp Con Private Limited |
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No. of Employees : |
Information denied by management |
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Bankers : |
· Vasai Janata Sahakari Bank Limited, Bhayandar Branch "Sai Kiran" Opposite Railway Station, Bhayandar (East), Thane - 401105, Maharashtra, India · The Bharat Co-operative Bank(Mumbai) Limited, 360, Balaji Arcade, Next to Bubna House, S.V. Road, Kandivli [West], Mumbai - 400067, Maharashtra, India |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
|
|
Name : |
Alok Chaturvedi and Associates Chartered Accountants |
|
Address : |
B-40l, New Seaview, New Raviraj Complex, Jesal Park, Bhayandar East,
Thane – 401105, Maharashtra, India |
|
Tel. No.: |
91-22-26172220 / 26173050 |
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E-Mail : |
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Income-tax
PAN of auditor or auditor's firm : |
ADLPC8175G |
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Memberships : |
-- |
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Collaborators : |
-- |
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Related Parties : |
· Count N Denier Realities Private Limited · Count N Denier Yarns India Private Limited · Count N Denier India Limited |
CAPITAL STRUCTURE
AS ON 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3,500,000 |
Equity Shares |
Rs. 10/- each |
Rs. 35.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3,000,000 |
Equity Shares |
Rs. 10/- each |
Rs. 30.000
Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
30.000 |
4.900 |
4.900 |
|
(b) Reserves & Surplus |
1.359 |
17.853 |
15.414 |
|
(c) Money received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share
Application money pending allotment |
0.000 |
2.115 |
2.115 |
|
Total
Shareholders’ Funds (1) + (2) |
31.359 |
24.868 |
22.429 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
19.752 |
21.644 |
23.462 |
|
(b) Deferred tax liabilities (Net) |
0.026 |
0.074 |
0.172 |
|
(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) |
19.778 |
21.718 |
23.634 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
27.072 |
32.291 |
6.699 |
|
(b)
Trade payables |
100.313 |
103.904 |
51.321 |
|
(c)
Other current liabilities |
14.351 |
3.452 |
2.964 |
|
(d)
Short-term provisions |
6.025 |
4.767 |
3.704 |
|
Total
Current Liabilities (4) |
147.761 |
144.414 |
64.688 |
|
|
|
|
|
|
TOTAL |
198.898 |
191.000 |
110.751 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
0.458 |
0.576 |
0.918 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(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 |
0.496 |
0.496 |
0.037 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan
and Advances |
0.000 |
0.000 |
0.000 |
|
(e)
Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
0.954 |
1.072 |
0.955 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
4.026 |
5.042 |
17.878 |
|
(c)
Trade receivables |
173.334 |
170.943 |
81.259 |
|
(d)
Cash and cash equivalents |
0.720 |
0.919 |
0.352 |
|
(e)
Short-term loans and advances |
12.515 |
9.350 |
7.657 |
|
(f)
Other current assets |
6.949 |
3.674 |
2.650 |
|
Total
Current Assets |
197.544 |
189.928 |
109.796 |
|
|
|
|
|
|
TOTAL |
198.498 |
191.000 |
110.751 |
NOTES: Figures
have been rounded of to the nearest rupee.
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
Less |
TAX |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX |
3.106 |
2.439 |
2.623 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
1.04 |
0.81 |
0.87 |
|
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current Maturities of Long term debt |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
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 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.49 |
2.17 |
1.34 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.34 |
1.32 |
1.70 |
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 |
4.900 |
4.900 |
30.000 |
|
Reserves & Surplus |
15.414 |
17.853 |
1.359 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
2.115 |
2.115 |
0.000 |
|
Net
worth |
22.429 |
24.868 |
31.359 |
|
|
|
|
|
|
Long-term borrowings |
23.462 |
21.644 |
19.752 |
|
Short term borrowings |
6.699 |
32.291 |
27.072 |
|
CURRENT MATURITIES OF
LONG-TERM DEBTS |
0.000 |
0.000 |
0.000 |
|
Total
borrowings |
30.161 |
53.935 |
46.824 |
|
Debt/Equity
ratio |
1.345 |
2.169 |
1.493 |
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 |
Yes |
|
18 |
Major suppliers |
Yes |
|
19 |
Major customers |
Yes |
|
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 |
No |
|
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 |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
10531616 |
25/10/2014 |
7,500,000.00 |
VASAI
JANATA SAHAKARI BANK LIMITED |
BHAYANDAR
BR."SAI KIRAN" OPPOSITE RAILWAY STATION, BHAYANDAR(EAST),
BHAYANDAR, MUMBAI - 401105, MAHARASHTRA, INDIA |
C33799909 |
|
2 |
10501565 |
20/05/2014 |
25,000,000.00 |
UNION
BANK OF INDIA |
PRINCESS
STREET BRANCH, DEVKARAN MANSION, SHAMAL |
C05941562 |
|
3 |
10502590 |
20/05/2014 |
15,000,000.00 |
UNION
BANK OF INDIA |
PRINCESS
STREET BRANCH, DEVKARAN MANSION, SHAMAL |
C06411920 |
|
4 |
10418962 |
20/03/2013 |
15,000,000.00 |
VASAI
JANATA SAHAKARI BANK LIMITED |
BHAYANDAR
BR."SAI KIRAN" OPPOSITE RAILWAY STATION, BHAYANDAR(East), THANE - 401105,
MAHARASHTRA, INDIA |
B72964455 |
|
5 |
10418965 |
20/03/2013 |
21,700,000.00 |
VASAI
JANATA SAHAKARI BANK LIMITED |
BHAYANDAR
BR. "SAI KIRAN" OPPOSITE RAILWAY STATION, |
B72965379 |
UNSECURED LOANS
|
PARTICULARS |
31.03.2014 (Rs.
In Million) |
31.03.2013 (Rs.
In Million) |
|
SHORT TERM BORROWINGS |
|
|
|
Loans and advances from related parties |
0.297 |
10.304 |
|
Other Loans and advances |
26.775 |
21.987 |
|
|
|
|
|
Total |
27.072 |
32.291 |
OPERATIONS
During the year the company earning a profit of Rs. 4.317 Million. The Directors are pursuing various business proposals and are hopeful of presenting a better picture in the ensuing years to come.
FIXED ASSETS:
Intangible Assets
· Goodwill
· Software
· Trademark
Tangible Assets
· Freehold Land
· Leasehold Land
· Building
· Air Conditioner
· Plant and Machinery
· Computer
· Furniture and Fixtures
· Vehicles
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 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.66.16 |
|
|
1 |
Rs.101.22 |
|
Euro |
1 |
Rs.74.61 |
INFORMATION DETAILS
|
Information
Gathered by : |
NYA |
|
|
|
|
Analysis Done by
: |
KAS |
|
|
|
|
Report Prepared
by : |
ARC |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
|
30 |
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.