MIRA INFORM REPORT
|
Report No. : |
340734 |
|
Report Date : |
11.09.2015 |
IDENTIFICATION DETAILS
|
Name : |
REXAM BEVERAGE CAN INDIA PRIVATE LIMITED (w.e.f. 29.04.2015) |
|
|
|
|
Formerly Known
As : |
REXAM BEVERAGE CAN INDIA Private Limited (w.e.f. 01.04.2015) REXAM HTW BEVERAGE CAN (INDIA) LIMITED HTW BEVERAGE CAN (INDIA) PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
488, Bartan Market, Sadar Bazar, Delhi - 110006 |
|
Tel. No.: |
91-11-23679016/23673645 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
25.06.2006 |
|
|
|
|
Com. Reg. No.: |
55-150218 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 424.903 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U28129DL2006PTC150218 |
|
|
|
|
IEC No.: |
Not Available |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCH7101B |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject is engaged in the business of manufacturing and trading of two piece beverage cans |
|
|
|
|
No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (28) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 7900000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company incorporated in the year 2006 having
a moderate track record. The company has shown growth in its turnover during FY 2014 However, the company is continuously incurring losses from its
operational activities which has resulted into accumulated losses incurred by
the company Further, the rating also takes into consideration unfavorable gap
between trade payables and trade receivables. However, trade relations are reported as fair. Business is active.
Payments terms are reported to be slow but correct. The company can be considered for business dealings with some
caution. |
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
31-03-2015.
INFORMATION DENIED BY
|
Name : |
Mr. Ashit |
|
Designation : |
Accountant |
|
Contact No.: |
91-22-30911300 |
|
Date : |
10.09.2015 |
LOCATIONS
|
Registered Office : |
488, Bartan Market, Sadar Bazar, Delhi - 110006, India |
|
Tel. No.: |
91-11-23679016/23673645 |
|
Mobile No.: |
Not Available |
|
Fax No.: |
91-11-23550405 |
|
E-Mail : |
rajat@hindustantin.co.in |
|
|
|
|
Factory : |
5th Floor Tamarai Tech Park, Plot 16-19 and 20A Thiru Vi Ka
Industrial Estate Guindy, Chennai -
600032, Tamilnadu, India |
DIRECTORS
As on 25.09.2014
|
Name : |
Mr. Richard John Peachey |
|
Designation : |
Director |
|
Address : |
36 Lower Weald, Calverton, Milton, Keynes, Mk196eq, United Kingdom |
|
Date of Birth/Age : |
14.03.1965 |
|
Date of Appointment : |
23.10.2007 |
|
DIN No.: |
00914482 |
|
|
|
|
Name : |
Mr. Craig Phillip Jones |
|
Designation : |
Director |
|
Address : |
11 Dean Forest Way, Broughton, Milton, Keynes, Mk107ad , United Kingdom |
|
Date of Birth/Age : |
21.06.1973 |
|
Date of Appointment : |
22.11.2013 |
|
DIN No.: |
06531072 |
|
|
|
|
Name : |
Mr. Amit Lahoti |
|
Designation : |
Director |
|
Address : |
199/5, Mahatma Gandhi Road, 2nd Floor, Kolkata - 700007, West Bengal, India |
|
Date of Birth/Age : |
12.12.1980 |
|
Date of Appointment : |
22.11.2013 |
|
DIN No.: |
06577079 |
|
|
|
|
Name : |
Mr. Nilesh Laxmikant Vijaywargi |
|
Designation : |
Whole-time director |
|
Address : |
C-1204, Classique, Neelkanth Palms, G B Road, Thane West, Thane, Mumbai - 400610, Maharashtra, India |
|
Date of Birth/Age : |
03.10.1978 |
|
Date of Appointment : |
15.09.2014 |
|
DIN No.: |
06963962 |
KEY EXECUTIVES
|
Name : |
Mr. Ashit |
|
Designation : |
Accountant |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 25.09.2014
|
Names of Shareholders |
|
No. of Shares |
|
Paras Bhatia |
|
100 |
|
Atit Bhatia |
|
100 |
|
Hindustan Tin Work Limited , India |
|
3285250 |
|
Rexam Beverage Can (India Holdings) Limited, London |
|
421617547 |
|
Rexam European Holding Limited, London |
|
1 |
|
Berkeley Nominces Limited, London |
|
1 |
|
Rexam Beverage Can Europe Limited, London |
|
1 |
|
|
|
|
|
Total |
|
424903000 |
Equity Share Break up (Percentage of Total Equity)
As on 25.09.2014
|
Category |
Percentage |
|
Foreign holdings( Foreign institutional investor(s),
Foreign companie(s) Foreign financial institution(s), Non-resident Indian(s)
or Overseas Corporate bodies or Others |
99.23 |
|
Bodies corporate |
0.77 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in the business of manufacturing and trading of two piece beverage cans |
||||
|
|
|
||||
|
Products : |
|
||||
|
|
|
||||
|
Brand Names : |
Not Available |
||||
|
|
|
||||
|
Agencies Held : |
Not Available |
||||
|
|
|
||||
|
Exports : |
Not Divulged |
||||
|
|
|
||||
|
Imports : |
Not Divulged |
||||
|
|
|
||||
|
Terms : |
Not Divulged |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Customers : |
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
No. of Employees : |
Information declined by the management |
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Bankers : |
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Facilities : |
(Rs.
In Million)
|
|
Auditors : |
|
|
Name : |
Lovelock and Lewes Chartered Accountants |
|
Address : |
252, Veer Savarkar Marg, Shivaji Park, Dadar, Mumbai - 400028, Maharashtra, India |
|
PAN N Income-tax PAN of auditor or auditor's firm : |
AABFL5878L |
|
|
|
|
Memberships : |
-- |
|
|
|
|
Collaborators : |
-- |
|
|
|
|
Ultimate Holding
Company: |
|
|
|
|
|
Holding Company: |
|
|
|
|
|
Fellow
Subsidiaries: |
|
|
|
|
|
Enterprise where significant influence exists: |
|
CAPITAL STRUCTURE
After 25.09.2014
Authorised Capital : Rs. 5360.000 Million
Issued, Subscribed & Paid-up Capital : Rs.
5358.299 Million
As on 25.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
425000000 |
Equity Shares |
Rs.10/- each |
Rs. 4250.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
424903000 |
Equity Shares |
Rs.10/- each |
Rs. 4249.030
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 |
4249.030 |
1569.030 |
1569.030 |
|
(b) Reserves & Surplus |
(1469.056) |
(1525.234) |
(777.537) |
|
(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) |
2779.974 |
43.796 |
791.493 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
771.311 |
2297.698 |
71.549 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
3.987 |
2.561 |
5.440 |
|
Total Non-current
Liabilities (3) |
775.298 |
2300.259 |
76.989 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
506.817 |
1205.736 |
264.921 |
|
(b) Trade
payables |
899.607 |
679.449 |
493.112 |
|
(c) Other
current liabilities |
358.538 |
414.946 |
235.132 |
|
(d) Short-term
provisions |
5.365 |
6.242 |
2.923 |
|
Total Current
Liabilities (4) |
1770.327 |
2306.373 |
996.088 |
|
|
|
|
|
|
TOTAL |
5325.599 |
4650.428 |
1864.570 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
2945.101 |
2879.714 |
633.546 |
|
(ii)
Intangible Assets |
0.000 |
0.103 |
0.348 |
|
(iii) Capital
work-in-progress |
33.359 |
139.698 |
301.302 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
375.797 |
181.601 |
96.777 |
|
(e) Other
Non-current assets |
|
|
|
|
Total Non-Current
Assets |
3354.257 |
3201.116 |
1031.973 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
825.942 |
699.338 |
334.087 |
|
(c) Trade
receivables |
378.036 |
285.505 |
121.279 |
|
(d) Cash
and cash equivalents |
160.708 |
81.633 |
39.577 |
|
(e)
Short-term loans and advances |
503.614 |
382.836 |
337.654 |
|
(f) Other current
assets |
103.042 |
0.000 |
0.000 |
|
Total
Current Assets |
1971.342 |
1449.312 |
832.597 |
|
|
|
|
|
|
TOTAL |
5325.599 |
4650.428 |
1864.570 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Income |
2106.544 |
1120.592 |
762.283 |
|
|
Other Income |
9.010 |
0.930 |
3.183 |
|
|
TOTAL
|
2115.554 |
1121.522 |
765.466 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
1401.448 |
966.639 |
682.722 |
|
|
Exceptional Item |
0.000 |
0.000 |
202.431 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(22.311) |
(97.314) |
(88.742) |
|
|
Employees benefits expense |
80.219 |
72.800 |
68.727 |
|
|
Other expenses |
339.435 |
392.976 |
246.083 |
|
|
TOTAL
|
1798.791 |
1335.101 |
1111.221 |
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
316.763 |
(213.579) |
(345.755) |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
466.616 |
298.322 |
112.948 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
(149.853) |
(511.901) |
(458.703) |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION |
385.919 |
235.796 |
134.771 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
(535.772) |
(747.697) |
(593.474) |
|
|
|
|
|
|
|
Less |
TAX |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
(535.772) |
(747.697) |
(593.474) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
(1.26) |
(1.75) |
(1.39) |
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current Maturities of Long term debt |
N.A |
N.A |
N.A |
|
Cash generated from operations |
N.A |
N.A |
N.A |
|
Net cash flow from operating activity |
(6.309) |
(822.225) |
(196.158) |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
(25.43) |
(66.72) |
(77.85) |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
15.04 |
(19.06) |
(45.36) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(10.12) |
(16.58) |
(37.96) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.19) |
(17.07) |
(0.75) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.46 |
79.99 |
0.43 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.11 |
0.63 |
0.84 |
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 |
1569.030 |
1569.030 |
4249.030 |
|
Reserves & Surplus |
(777.537) |
(1525.234) |
(1469.056) |
|
Net
worth |
791.493 |
43.796 |
2779.974 |
|
|
|
|
|
|
long-term borrowings |
71.549 |
2297.698 |
771.311 |
|
Short term borrowings |
264.921 |
1205.736 |
506.817 |
|
Total
borrowings |
336.470 |
3503.434 |
1278.128 |
|
Debt/Equity
ratio |
0.425 |
79.994 |
0.460 |
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 |
762.283 |
1120.592 |
2106.544 |
|
|
|
47.005 |
87.985 |
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 |
762.283 |
1120.592 |
2106.544 |
|
Profit |
(593.474) |
(747.697) |
(535.772) |
|
|
(77.85)% |
(66.72)% |
(25.43)% |
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 |
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 |
-- |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
OPERATIONS
During the year the turnover of the company grew by 90.44% registering sale of Rs.1963.560 Million over last year's sale of Rs.1029.310 Million and the sale volume also grew from 178 mn cans to 299 mn cans during the year 2013-14 increase by 68%. The beer can market in India for 330 ml and 500 ml grew by 15 to 20 % during the year 2013-14 over the last year and is expected to grow approximately by 15% during the next year. The company has successfully added new customers namely Basantar Breweries, India and Kenya Breweries, Kenya to the existing list of elite customers. The company has started exporting cans to the African continent in 2013-14. The company had many exciting enquiries during the year, both domestic and exports, and the outlook remains bright and challenging.
Due to the continuous and ongoing process of restructuring adopted by the company in all areas of its operations and more importantly installation of aluminum can making line, there has been improvement in manufacturing resulting in improved productivity. The production recorded an increase of 53.16 % of 287mn cans during the year 2013-14 as against 188 mn cans during 2012-13.
UNSECURED LOAN
(Rs.
In Million)
|
Particulars |
As
on 31.03.2014 |
As
on 31.03.2013 |
|
LONG TERM
BORROWING |
|
|
|
Loan and advance from related parties |
771.311 |
2221.790 |
|
|
|
|
|
SHORT TERM
BORROWING |
|
|
|
Working capital loans from banks |
506.817 |
1205.736 |
|
|
|
|
|
Total |
1278.128 |
3427.526 |
INDEX OF CHARGES: NO CHARGES
EXIST FOR THE COMPANY
FIXED ASSETS
- Land
- Building
- Factory building
- Plant and equipment
- Factory equipments
- Furniture and fixtures
- Vehicles
- Motor vehicles
- Office equipment
- Computer
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.66.58 |
|
|
1 |
Rs.102.29 |
|
Euro |
1 |
Rs.74.71 |
INFORMATION DETAILS
|
Information
Gathered by : |
GYT |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
RKI |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILITY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
2 |
|
--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 |
|
28 |
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.