MIRA INFORM REPORT
|
Report No. : |
338874 |
|
Report Date : |
04.09.2015 |
IDENTIFICATION DETAILS
|
Name : |
GOLDEN FASHIONS INDIA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
R.S.F.No.8/2G, Karur Main Road, Solar Pudur, Erode – 638002, Tamilnadu |
|
Tel. No.: |
91-424-2402718 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
24.05.2012 |
|
|
|
|
Com. Reg. No.: |
018301 |
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|
|
|
Capital
Investment / Paid-up Capital : |
Rs.0.500 Million |
|
|
|
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CIN No.: [Company Identification
No.] |
U18101TZ2012PTC018301 |
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IEC No.: |
Not Available |
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|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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|
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PAN No.: [Permanent Account No.] |
Not Available |
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|
Legal Form : |
Private Limited Liability Company |
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|
|
|
Line of Business
: |
The Company is engaged in the business of trading and manufacturing processed fabrics. |
|
|
|
|
No. of Employees
: |
60 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (41) |
|
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 company incorporated during the year 2012. It has a
satisfactory track. The company has improved its operational activity and its sales
turnover along with profitability margin of 2.20%. The financial position of
the company is good. Trade relations are improving. Business is active. Payment terms 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.
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 |
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
31-03-2013.
INFORMATION PARTED BY
|
Name : |
Mr. Radhakrishnan Thiyagarajan |
|
Designation : |
Managing Director |
|
Contact No.: |
91-9443264685 |
|
Date : |
28.08.2015 |
LOCATIONS
|
Registered Office : |
R.S.F.No.8/2G, Karur Main Road, Solar Pudur, Erode – 638002,
Tamilnadu, India |
|
Tel. No.: |
91-424-2402718 |
|
Mobile No.: |
91-9443264685 (Mr. Radhakrishnan Thiyagarajan) 91-9443164682 (Mr. Senthil) |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Area : |
25000 Sq.ft. |
|
Location : |
Owned [Commercial] |
|
|
|
|
Factory : |
SIDCO Industrial Estate, Karur Main Road, Solar Pudur, Erode – 638002,
Tamilnadu, India |
|
Location : |
Owned |
|
|
|
|
Branch Office : |
Located At: Erode |
DIRECTORS
AS ON 29.09.2014
|
Name : |
Radhakrishnan Thiyagarajan |
|
Designation : |
Managing Director |
|
Address : |
Plot No. 17, Triveni Nagar, Sengodampallam, Thindal, Erode - 638009, Tamilnadu, India |
|
Date of Birth/Age : |
28.02.1966 |
|
Date of Appointment : |
24.05.2012 |
|
DIN No.: |
05225846 |
|
|
|
|
Name : |
Ramachamy Palaniappan |
|
Designation : |
Director |
|
Address : |
153, Balaji Illam, Amman Nagar, Sengodampalayam, Thindal, Erode - 638012, Tamilnadu, India |
|
Date of Birth/Age : |
26.10.1974 |
|
Date of Appointment : |
24.05.2012 |
|
DIN No.: |
05225850 |
|
|
|
|
Name : |
Alagarsamy Govindasamy |
|
Designation : |
Director |
|
Address : |
18, Thiruveni Nagar, Near Sakthi Nagar, Thindal, Erode - 638009, Tamilnadu, India |
|
Date of Birth/Age : |
20.05.1964 |
|
Date of Appointment : |
01.08.2012 |
|
DIN No.: |
05282328 |
|
|
|
|
Name : |
Krishnan Vasudevan Saradha |
|
Designation : |
Director |
|
Address : |
4, Therku Pallam Road, Dhindal, Erode - 638009, Tamilnadu, India |
|
Date of Birth/Age : |
10.05.1975 |
|
Date of Appointment : |
01.08.2012 |
|
DIN No.: |
05342543 |
|
|
|
|
Name : |
Nanjappan Sivaraman Swaminathan |
|
Designation : |
Director |
|
Address : |
25, Periyar Nagar, Erode, Erode - 638001, Tamilnadu, India |
|
Date of Birth/Age : |
11.06.1963 |
|
Date of Appointment : |
01.08.2012 |
|
DIN No.: |
05342542 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 29.09.2014
|
Names of Shareholders |
No. of Shares |
%age
holding |
|
Radhakrishnan Thiyagarajan |
1,000 |
20.00 |
|
Ramachamy Palaniappan |
1,000 |
20.00 |
|
Alagarsamy Govindasamy |
1,000 |
20.00 |
|
Nanjappan Sivaraman Swaminathan |
1,000 |
20.00 |
|
Krishnan Vasudevan Saradha |
1,000 |
20.00 |
|
Total |
5,000 |
100.00 |
AS ON 29.09.2014
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
The Company is engaged in the business of trading and manufacturing processed fabrics. |
|
|
|
|
Products : |
Fabrics |
|
|
|
|
Brand Names : |
Not Divulged |
|
|
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|
Agencies Held : |
Not Divulged |
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Exports : |
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Products : |
Finished goods |
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Countries : |
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Imports : |
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Products : |
Machinery |
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Countries : |
Japan |
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Terms : |
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Selling : |
Cash, L/C and Credit |
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Purchasing : |
Cash, L/C 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 : |
60 (Approximately) |
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Bankers : |
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Facilities : |
Note : Long-term
Borrowings Details of terms of repayment, security provided and loans guaranteed by the Directors - Term Loans from banks TERMS OF REPAYMENT Term Loan - Machinery Repayable in 60 instalments after holiday period of 6 months @ Rs.0.107 Million with interest debited is to be serviced then & there @ BR + 1.75% (presently 12.50%). SECURITY PROVIDED Hypothecation of entire fixed assets created from and out of Term Loans. GUARANTEE · All the above loans are guaranteed personally by all the Directors of the Company. · In addition to the above, the term loan is further guaranteed by a Partnership firm (M/s Golden Fashions, Erode) and other individuals. Short-term
borrowings Details of
securities provided and loans guaranteed by the Directors or Others: TERMS OF REPAYMENT Repayable on demand SECURITY PROVIDED Hypothecation of entire current assets of the Company GUARANTEE All the above loans are guaranteed personally by all the Directors of the Company |
|
Auditors : |
|
|
Name : |
V.S.Venkat Pati Chartered Accountants |
|
Address : |
28/14, Sivasamy Street, Mahalakshmi Apartments, B Block, 3rd Floor,
Salem – 636001, Tamilnadu, India |
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PAN No.: |
ABQPV2745L |
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Memberships : |
--- |
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Collaborators : |
--- |
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Enterprise
significantly influenced by Key managerial person: |
Golden Fashions Golden Designs India Private Limited Golden Power Energy Solutions Private Limited |
CAPITAL STRUCTURE
AS ON 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5,000 |
Equity Shares |
Rs.100/- each |
Rs.0.500 Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5,000 |
Equity Shares |
Rs.100/- each |
Rs.0.500 Million |
FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
|
31.03.2014 |
31.03.2013 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
0.500 |
0.200 |
|
(b) Reserves &
Surplus |
|
6.033 |
0.000 |
|
(c) Money received
against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application
money pending allotment |
|
0.000 |
0.000 |
|
Total Shareholders’ Funds
(1) + (2) |
|
6.533 |
0.200 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
|
3.812 |
0.000 |
|
(b) Deferred tax
liabilities (Net) |
|
0.329 |
0.000 |
|
(c) Other long term
liabilities |
|
0.000 |
0.000 |
|
(d) long-term provisions |
|
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
|
4.141 |
0.000 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
|
6.776 |
0.000 |
|
(b) Trade payables |
|
32.225 |
0.000 |
|
(c) Other current
liabilities |
|
4.024 |
0.686 |
|
(d) Short-term provisions |
|
2.712 |
0.000 |
|
Total Current Liabilities
(4) |
|
45.737 |
0.686 |
|
|
|
|
|
|
TOTAL |
|
56.411 |
0.886 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
6.232 |
0.080 |
|
(ii) Intangible Assets |
|
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
|
0.000 |
0.000 |
|
(iv) Intangible assets
under development |
|
0.000 |
0.000 |
|
(b) Non-current
Investments |
|
0.000 |
0.000 |
|
(c) Deferred tax assets
(net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
0.000 |
0.000 |
|
(e) Other Non-current
assets |
|
0.000 |
0.000 |
|
Total Non-Current Assets |
|
6.232 |
0.080 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
0.000 |
0.000 |
|
(b) Inventories |
|
22.501 |
0.000 |
|
(c) Trade receivables |
|
23.885 |
0.000 |
|
(d) Cash and cash
equivalents |
|
0.728 |
0.788 |
|
(e) Short-term loans and
advances |
|
3.050 |
0.000 |
|
(f) Other current assets |
|
0.015 |
0.018 |
|
Total Current Assets |
|
50.179 |
0.806 |
|
|
|
|
|
|
TOTAL |
|
56.411 |
0.886 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
|
|
SALES |
|
|
|
|
|
Income |
|
274.811 |
0.089 |
|
|
Other Income |
|
0.034 |
0.000 |
|
|
TOTAL |
|
274.845 |
0.089 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
|
201.706 |
0.000 |
|
|
Purchases of
Stock-in-Trade |
|
0.000 |
0.087 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
|
(7.037) |
0.000 |
|
|
Employees benefits
expense |
|
7.871 |
0.000 |
|
|
Other expenses |
|
61.054 |
0.000 |
|
|
TOTAL |
|
263.594 |
0.087 |
|
|
|
|
|
|
|
Less |
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION |
|
11.251 |
0.002 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
|
0.896 |
0.001 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION |
|
10.355 |
0.001 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
|
1.565 |
0.000 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
|
8.790 |
0.001 |
|
|
|
|
|
|
|
Less |
TAX |
|
2.757 |
0.000 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
|
6.033 |
0.001 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
|
0.000 |
0.000 |
|
|
Components and Stores
parts |
|
0.000 |
0.000 |
|
|
Capital Goods |
|
6.714 |
0.000 |
|
|
TOTAL IMPORTS |
|
6.714 |
0.000 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (Rs.) |
|
1206.52 |
0.16 |
|
Particulars |
|
|
31.03.2015 |
|
Sales Turnover (Approximately) |
|
|
350.000 |
|
|
|
|
|
Expected Sales ( 2015-2016 ) : Rs.350.000 Million
The above information has been parted by Mr. Radhakrishnan Thiyagarajan.
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
|
31.03.2014 |
31.03.2013 |
|
Current Maturities of Long term debt |
|
0.759 |
0.000 |
|
Cash generated from /(used in) operations |
|
0.093 |
0.669 |
|
Net cash flow from/ (used in) operating activities |
|
(2.335) |
0.669 |
KEY
RATIOS
|
PARTICULARS |
|
|
31.03.2014 |
31.03.2013 |
|
Net Profit Margin (PAT / Sales) |
(%) |
|
2.20 |
1.12 |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
|
4.09 |
2.25 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
|
15.58 |
0.11 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
|
1.35 |
0.01 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
|
1.74 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
|
1.10 |
1.17 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Million) |
(Rs. In Million) |
|
Share Capital |
0.200 |
0.500 |
|
Reserves & Surplus |
0.000 |
6.033 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
|
Net worth |
0.200 |
6.533 |
|
|
|
|
|
long-term borrowings |
0.000 |
3.812 |
|
Short term borrowings |
0.000 |
6.776 |
|
Current maturities of
long term debt |
0.000 |
0.759 |
|
Total borrowings |
0.000 |
11.347 |
|
Debt/Equity ratio |
0.000 |
1.737 |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Million) |
(Rs. In Million) |
|
Sales |
0.089 |
274.811 |
|
|
3,08,676.404 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Million) |
(Rs. In Million) |
|
Sales |
0.089 |
274.811 |
|
Profit |
0.001 |
6.033 |
|
|
1.12% |
2.20% |
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 |
Yes |
|
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 |
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 |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
Yes |
|
29 |
Profitability for last two 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 |
REVIEW OF OPERATIONS
During the year, the company reported gross receipts of Rs. 274.800 Million which includes purchased & processed fabrics also. The Production unit at SIDCO is started its commercial operation during the second quarter of the financial year and is fully operational during the year.
The directors have the confidence to give better results in the coming years.
FINANCE
The Company has been sanctioned a term loan of Rs. 6.000 Million to acquire machinery and a working capital limit of Rs. 20.000 Million by City Union Bank, Erode Branch, Erode the Company has availed the credit facilities sanctioned and the company is regular in remitting all the financial commitments in time as stipulated by bank.
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
10469919 |
12/12/2013 |
25,000,000.00 |
CITY UNION BANK LIMITED |
DOOR NO.907. PANNER SELVAM PARK, BROUGH ROAD, ERO |
B93413185 |
|
2 |
10429329 |
08/05/2013 |
6,000,000.00 |
CITY UNION BANK LTD |
DOOR NO.907. PANNER SELVAM PARK, BROUGH ROAD, ERO |
B76403583 |
FIXED ASSETS
Tangible
Assets
- Land
- Buildings
- Plant and machinery
- Computers
- Furniture and Fixtures
- Motor Vehicles
Intangible
Assets
- Computer Software
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.66.22 |
|
|
1 |
Rs.101.22 |
|
Euro |
1 |
Rs.74.33 |
INFORMATION DETAILS
|
Information Gathered
by : |
DPA |
|
|
|
|
Analysis Done by
: |
TRS |
|
|
|
|
Report Prepared
by : |
SNT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILITY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
4 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
41 |
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.