MIRA INFORM REPORT
|
Report No. : |
339661 |
|
Report Date : |
04.09.2015 |
IDENTIFICATION DETAILS
|
Name : |
HYGIENIC RESEARCH INSTITUTE PRIVATE LIMITED (w.e.f.
11.11.2001) |
|
|
|
|
Formerly Known
As : |
HRI COSMETICS (INDIA ) PRIVATE LIMITED |
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Registered
Office : |
602, Supreme Chambers, 6th Floor, Off Veera Desai Road,
Andheri (West), Mumbai – 400053, Maharashtra |
|
Tel. No.: |
91-22-61088833 |
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|
|
Country : |
India |
|
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|
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Financials (as
on) : |
31.03.2014 |
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|
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Date of
Incorporation : |
01.04.2002 |
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Com. Reg. No.: |
11-135338 |
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Capital
Investment / Paid-up Capital : |
Rs.1.000 Million |
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|
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CIN No.: [Company Identification
No.] |
U24247MH2002PTC135338 |
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IEC No.: |
0394019661 |
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TAN No.: [Tax Deduction & Collection
Account No.] |
MUMH11469D |
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PAN No.: [Permanent Account No.] |
AACCH0547A |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer and Exporter of cosmetic products. |
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No. of Employees
: |
450 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (50) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Good |
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|
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is well established company having a fine track record. The rating on Hygienic Research Institute Private Limited reflects healthy financials risk profile marked by its growing scale of operations, sound profitability margin, improved capital structure and strong liquidity with comfortable debt protection metrics. The ratings also factor in the company established hair-colour brand “STREAX” and distribution network, and the extensive experience of its management in the personal care industry. Rating strengths is partially offset by company exposure to intense competition and product concentration risks in the personal care industry. Trade relations are fair. Business is active. Payment terms are reported to be regular as per committed. The company can be considered good for normal business dealing at usual trade terms and condition. |
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: BBB |
|
Rating Explanation |
Moderate degree of safety and moderate credit risk. |
|
Date |
November 2014 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short term bank facilities: A3 |
|
Rating Explanation |
Moderate degree of safety and higher credit risk. |
|
Date |
November 2014 |
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 (GENERAL DETAILS)
|
Name : |
Mr. Thomas George |
|
Designation : |
General Manager Account |
|
Contact No.: |
91-22-26733330 |
|
Date : |
04.09.2015 |
LOCATIONS
|
Registered Office / Factory: |
602, Supreme Chambers, 6th Floor, Off Veera Desai Road,
Andheri (West), Mumbai – 400053, Maharashtra, India |
|
Tel. No.: |
91-22-26733330/31/31 |
|
Fax No.: |
91-22-26733329 |
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E-Mail : |
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|
Website : |
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Note:
|
|
DIRECTORS
AS ON 30.09.2014
|
Name : |
Mr. Manish Kailash Chhabra |
|
Designation : |
Managing director |
|
Address : |
Park Plaza, A-31/32, New Yari Road, Andheri (West), Vesava, Mumbai - 400061, Maharashtra, India |
|
Date of Birth/Age : |
09.03.1970 |
|
Date of Appointment : |
01.04.2002 |
|
DIN No.: |
01279909 |
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PAN No.: |
AABPC0432F |
|
|
|
|
Name : |
Mr. Subhash Chander Nishat |
|
Designation : |
Whole-time director |
|
Address : |
1705/6 Stellar Tower Lokhandwala, Complex, Andheri (West), Mumbai - 400058, Maharashtra, India |
|
Date of Birth/Age : |
30.06.1942 |
|
Date of Appointment : |
01.04.2002 |
|
DIN No.: |
02054573 |
|
PAN No.: |
AACPN2586J |
|
|
|
|
Name : |
Mr. Ashish Kailash Chhabra |
|
Designation : |
Director |
|
Address : |
A - 201 - B, Oberoi Sky Gardens Soc,, 3rd Cross Lane Lokhandwala Complex, Andheri (West), Mumbai - 400053, Maharashtra, India |
|
Date of Birth/Age : |
21.04.1975 |
|
Date of Appointment : |
01.04.2002 |
|
DIN No.: |
01279960 |
|
PAN No.: |
ACUPC8797L |
|
|
|
|
Name : |
Savita K Chhabra |
|
Designation : |
00540474 |
|
Address : |
A - 31/ 32, Park Plaza, ,3rd floor, Panchmarg,, New Yari Road, Versova , Andheri (West), Mumbai - 400061, Maharashtra, India |
|
Date of Birth/Age : |
20.01.1950 |
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Date of Appointment : |
01.04.2002 |
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DIN No.: |
00540474 |
|
PAN No.: |
AAAPC8906H |
|
|
|
|
Name : |
Ritika Manish Chhabra |
|
Designation : |
Additional director |
|
Address : |
A - 31/ 32, Park Plaza, 3rd Floor, Panchmarg, New Yari Road, Versova, Andheri (West), Mumbai - 400061, Maharashtra, India |
|
Date of Birth/Age : |
21.11.1971 |
|
Date of Appointment : |
01.10.2011 |
|
DIN No.: |
02272585 |
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PAN No.: |
AAAPC3894Q |
|
|
|
|
Name : |
Trisha Ashish Chhabra |
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Designation : |
Additional director |
|
Address : |
A- 201-B, Oberoi Sky Gardens, 3rd Cross Lane, Lokhandwala Complex, Andheri(West), Mumbai - 400053, Maharashtra, India |
|
Date of Birth/Age : |
01.12.1978 |
|
Date of Appointment : |
01.10.2011 |
|
DIN No.: |
02272560 |
|
PAN No.: |
ACWPC9142R |
KEY EXECUTIVES
|
Name : |
Mr. Thomas George |
|
Designation : |
General Manager Account |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2014
|
Names of Shareholders |
No. of Shares |
%age
holding |
|
Subhash Chander Nishat |
25000 |
25.00 |
|
Savita K Chhabra |
25000 |
25.00 |
|
Manish Kailash Chhabra |
20000 |
20.00 |
|
Ashish Kailash Chhabra |
25000 |
25.00 |
|
Ritika Manish Chhabra |
5000 |
5.00 |
|
Total |
100000 |
100.00 |
Equity Share Break up (Percentage of Total Equity)
AS ON 30.09.2014
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of cosmetic products. |
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Products : |
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Brand Names : |
STREAX |
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Agencies Held : |
Not Available |
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Exports : |
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Products : |
Finished Good |
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Countries : |
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Imports : |
Not Divulged |
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Terms : |
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Selling : |
L/C, Cash and Credit |
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Purchasing : |
L/C, Cash and Credit |
PRODUCTION STATUS: NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
Wholesalers, retailers and End Users
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No. of Employees : |
450 (Approximately) |
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Bankers : |
Union Bank of India, Versova Branch, Rajkumar Corner C.H.S. Limited, Plot No.105, J. P. Road, Andheri (West), Mumbai - 400058, Maharashtra, India
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Facilities : |
(Rs.
In Million)
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|
Auditors : |
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|
Name : |
N. Varma and Associates Chartered Accountant |
|
Address : |
Unit no.118, Kakad Industrial Estate, Sitaram Keer Road, Mahim(West), Mumbai – 400016, Maharashtra, India |
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PAN N Income-tax PAN of auditor or auditor's firm : |
AAAFN0680P |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Associates and
Group Companies: |
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Enterprise owned by
key management personnels relative |
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CAPITAL STRUCTURE
AS ON 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5100000 |
Equity Shares |
Rs.10/- each |
Rs. 51.000 Million |
|
|
|
|
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
100000 |
Equity Shares |
Rs.10/- each |
Rs. 1.000
Million |
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|
|
|
FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED
BALANCE SHEET
|
SOURCES
OF FUNDS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
1.000 |
1.000 |
1.000 |
|
(b) Reserves & Surplus |
658.022 |
605.262 |
503.632 |
|
(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) |
659.022 |
606.262 |
504.632 |
|
|
|
|
|
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(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
156.394 |
189.939 |
198.302 |
|
(b) Deferred tax liabilities
(Net) |
11.633 |
13.941 |
13.276 |
|
(c) Other long term
liabilities |
39.541 |
36.445 |
35.131 |
|
(d) long-term provisions |
9.592 |
6.819 |
4.984 |
|
Total
Non-current Liabilities (3) |
217.160 |
247.144 |
251.693 |
|
|
|
|
|
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(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
403.009 |
325.170 |
278.190 |
|
(b) Trade payables |
409.121 |
315.634 |
272.007 |
|
(c) Other current liabilities |
66.472 |
57.377 |
64.812 |
|
(d) Short-term provisions |
0.703 |
0.866 |
0.878 |
|
Total
Current Liabilities (4) |
879.305 |
699.047 |
615.887 |
|
|
|
|
|
|
TOTAL |
1755.487 |
1552.453 |
1372.212 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
459.801 |
479.757 |
493.720 |
|
(ii) Intangible Assets |
4.819 |
3.211 |
3.220 |
|
(iii) Capital work-in-progress |
13.221 |
0.000 |
0.000 |
|
(iv) Intangible assets under
development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
26.872 |
27.122 |
24.804 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
120.506 |
80.279 |
62.343 |
|
(e) Other Non-current assets |
6.567 |
2.862 |
5.853 |
|
Total
Non-Current Assets |
631.786 |
593.231 |
589.940 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
331.482 |
253.851 |
211.043 |
|
(c) Trade receivables |
613.182 |
544.565 |
419.010 |
|
(d) Cash and cash equivalents |
101.533 |
105.017 |
96.796 |
|
(e) Short-term loans and
advances |
30.203 |
19.839 |
26.186 |
|
(f) Other current assets |
47.301 |
35.950 |
29.237 |
|
Total
Current Assets |
1123.701 |
959.222 |
782.272 |
|
|
|
|
|
|
TOTAL |
1755.487 |
1552.453 |
1372.212 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Income |
3248.289 |
|
|
|
|
Other Income |
|
|
|
|
|
TOTAL
|
3248.289 |
3008.219 |
2529.323 |
|
|
|
|
|
|
|
Less |
EXPENSES |
3190.437 |
2905.115 |
2417.092 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
57.852 |
103.104 |
112.231 |
|
|
|
|
|
|
|
Less |
TAX |
5.092 |
1.474 |
32.143 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
52.760 |
101.630 |
80.088 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
527.60 |
NA |
NA |
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 |
69.969 |
60.857 |
189.565 |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Return on Total Assets (PBT/Total Assets} |
(%) |
3.37 |
6.76 |
8.33 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.09 |
0.17 |
0.22 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.85 |
0.85 |
0.94 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.28 |
1.37 |
1.27 |
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 |
1.000 |
1.000 |
1.000 |
|
Reserves & Surplus |
503.632 |
605.262 |
658.022 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
504.632 |
606.262 |
659.022 |
|
|
|
|
|
|
long-term borrowings |
198.302 |
189.939 |
156.394 |
|
Short term borrowings |
278.190 |
325.170 |
403.009 |
|
Total
borrowings |
476.492 |
515.109 |
559.403 |
|
Debt/Equity
ratio |
0.944 |
0.850 |
0.849 |
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 |
2529.323 |
3008.219 |
3248.289 |
|
|
|
18.934 |
7.980 |
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 |
2529.323 |
3008.219 |
3248.289 |
|
Profit |
80.088 |
101.630 |
52.760 |
|
|
3.17% |
3.38% |
1.62% |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
|
1 |
Year of establishment |
Yes |
|
2 |
Constitution of the entity -Incorporation
details |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
No |
|
5 |
Buyer visit details |
-- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
Yes |
|
8 |
Designation of contact person |
Yes |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
Yes |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
Yes |
|
16 |
No. of employees |
Yes |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
Yes |
|
22 |
Conduct of the banking account |
-- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
Yes |
|
26 |
Turnover of firm for last 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 |
Yes |
|
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 |
PROJECT AND
PERFORMANCE
The Company’s Total Income during the year was Rs. 3248.289 Million as against the Total Income of Rs. 3008.219 Million in the previous year. The Company earned a profit after tax of Rs. 52.760 Million during the current year as against a profit of Rs. 101.630 Million during the previous year.
UNSECURED LOAN
(Rs.
In Million)
|
Particulars |
As
on 31.03.2014 |
As
on 31.03.2013 |
|
LONG TERM
BORROWING |
|
|
|
Loans and advances from directors |
140.975 |
146.750 |
|
Loans and advances from others |
10.984 |
39.783 |
|
Total |
151.959 |
186.533 |
INDEX
OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
10506728 |
30/01/2015 * |
190,000,000.00 |
ADITYA BIRLA FINANCE LIMITED |
INDIAN RAYON
COMPOUND,, VERAVAL, GUJARAT - 362266, |
C43642354 |
|
2 |
10346450 |
28/03/2012 |
3,000,000.00 |
DIRECTOR OF INDUSTRIES |
S.W.C.A., BADDI,, SOLAN,
HIMACHAL PRADESH - 17410 |
B36631281 |
|
3 |
10132534 |
25/06/2015 * |
350,000,000.00 |
UNION BANK OF INDIA |
MUMBAI SAMACHAR
MARG BRANCH,, 66/80, MUMBAI SAMAC |
C58503574 |
|
4 |
10116125 |
26/06/2008 |
10,000,000.00 |
UNION BANK OF INDIA |
MUMBAI SAMACHAR
MARG BRANCH, 66 / 80,, M.S. MARG, |
A42844696 |
|
5 |
10114918 |
26/06/2008 * |
10,000,000.00 |
UNION BANK OF INDIA |
MUMBAI SAMACHAR
MARG BRANCH,, 66/80, M.S.MARG, MU |
A43053693 |
|
6 |
10114920 |
20/08/2013 * |
325,000,000.00 |
UNION BANK OF INDIA |
MUMBAI SAMACHAR
MARG BRANCH,, 66/80 MUMBAI SAMACH |
B83823799 |
* Date of charge modification
FIXED ASSETS
Tangible assets
- Land
- Buildings
- Plant and equipment
- Vehicles
- Office equipment
- Computer equipments
Intangible assets
- Know-how
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.66.23 |
|
UK Pound |
1 |
Rs.101.22 |
|
Euro |
1 |
Rs.74.33 |
INFORMATION DETAILS
|
Information
Gathered by : |
DIP |
|
|
|
|
Analysis Done by
: |
KAS |
|
|
|
|
Report Prepared
by : |
KVT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILITY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--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 |
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 |
|
50 |
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.