MIRA INFORM REPORT
|
Report No. : |
341105 |
|
Report Date : |
16.09.2015 |
IDENTIFICATION DETAILS
|
Name : |
AVERY DENNISON (INDIA) PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
311 B/C/D, DLF South Court, Saket, New Delhi – 110017 |
|
Tel. No.: |
91-11-23714408 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
08.12.1995 |
|
|
|
|
Com. Reg. No.: |
55-074475 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.476.507
Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74899DL1995PTC074475 |
|
|
|
|
IEC No.: |
0596017871 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
DELA05957A |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACA6163D |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacture and trading of self-adhesive paper, films and
labels. |
|
|
|
|
No. of Employees
: |
Information declined by the management
|
RATING & COMMENTS
|
MIRA’s Rating : |
B (34) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company incorporated in the year 1995 having a moderate track record. The rating takes into consideration continuous losses incurred by the company. Further, the borrowings recorded by the company are huge and increasing over years. 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 DECLINED
MANAGEMENT NON CO-OPERATIVE (91-124-4351200/91-11-23714408)
LOCATIONS
|
Registered Office : |
311 B/C/D, DLF South Court, Saket, New Delhi – 110017,
India |
|
Tel. No.: |
91-11-23714408 |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Corporate Office 1 : |
421/422, Shrikant Chambers, Sion Trombey Road, Next to R.K. Studio,
Chembur, Mumbai – 400071, Maharashtra,
India |
|
Tel No.: |
91-22-67554625 / 31080968 / 67554626 |
|
Fax No.: |
91-22-67554623 |
|
|
|
|
Corporate Office 2 / Factory: |
Narsinghpur Industrial Area, 6 Kilometer Stone, Delhi-Jaipur Highway, Gurgaon
– 122001, Haryana, India |
|
Tel. No.: |
91-124-4351200/ 2215581/ 582/ 583 |
|
Fax No.: |
91-124-2215591/ 592 |
|
Area : |
6 Acres |
|
Location : |
Industrial |
|
|
|
|
Head Office 1 : |
204-206, Tolstoy House, 15 Tolstoy Marg, Connaught Place, New Delhi –
110001, India |
|
Tel. No.: |
91-11-23714408/ 10 |
|
E-Mail : |
|
|
Area : |
2350 sq. ft. |
|
Location : |
Leased |
|
|
|
|
Head Office 2 : |
Plot No.6B, Kiadbi Industrial Area, Peenya, 1st Phase,
Bangalore – 560058, Karnataka, India |
|
Tel No.: |
91-80-41370400 |
|
|
|
|
Branch Office : |
90/91, 7th Main Road, III Phase, Peenya Industrial Area,
Bangalore – 560058, Karnataka, India |
|
Tel No.: |
91-80-41370400 |
|
Fax No.: |
91-80-41370600 |
DIRECTORS
AS ON 09.08.2014
|
Name : |
Mr. Anil Kumar Sharma |
|
Designation : |
Whole-Time Director |
|
Address : |
MF 11, Eldeco Mansionz, RWA, Sohna Road, Gurgaon – 122001, Haryana,
India |
|
Date of Birth/ Age : |
06.10.1969 |
|
Qualification : |
B.E. / B. Tech., MBA |
|
Date of Appointment: |
10.02.2011 |
|
PAN No.: |
ABAPS0242D |
|
DIN No.: |
03161485 |
|
|
|
|
Name : |
Mr. Rishi Pardal |
|
Designation : |
Whole-Time Director |
|
Address : |
6A, 6th Floor, Lords Apartment, 94 Satyadev Avenue, MRC
Nagar, R.A. Puram, Chennai – 600028, Tamilnadu, India |
|
Date of Birth/ Age : |
16.05.1973 |
|
Qualification : |
Mgmt. Degree from IIIT |
|
Date of Appointment : |
01.01.2011 |
|
PAN No.: |
AIFPP2134F |
|
DIN No.: |
02470061 |
|
|
|
|
Name : |
Mr. Saurabhkumar Narendra Lal |
|
Designation : |
Whole-time director |
|
Address : |
A082, Alpha Block, Bearys Lakeside Habitat, No. 18,
Shanthivana, Kodigehalli, Bangalore - 560092, Karnataka, India |
|
Date of Appointment : |
12.12.2014 |
|
DIN No.: |
07021602 |
KEY EXECUTIVES
|
Name : |
Komandur Sanathana Krishnan Muralie |
|
Designation : |
Secretary |
|
Address : |
D/3, 3072, Vasant Kunj, New Delhi – 110070, India |
|
Date of Birth/Age : |
20.05.1966 |
|
Qualification : |
B.Com., AICWA, ACA, ACS |
|
Date of Appointment : |
03.03.2000 |
|
PAN No. : |
ABDPM0006G |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 09.08.2014
|
Names of Shareholders |
|
No. of Shares |
|
Avery Dennison Corporation, USA |
|
21474466 |
|
Avery Pacific LLC, USA |
|
216949 |
|
Avery Dennison Central Europe GmbH, Germany |
|
10400000 |
|
Paxar B V, The Netherlands |
|
10400000 |
|
RVL Packaging Far East Limited, Hong Kong |
|
5159245 |
|
Total |
|
47650660 |
Equity Share Break up (Percentage of Total Equity)
As on 09.08.2014
|
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 |
100.00 |
|
Total |
100.00 |
%20PRIVATE%20LIMITED%20-%20341105%2016-Sep-2015_files/image009.gif)
BUSINESS DETAILS
|
Line of Business : |
Manufacture and trading of self-adhesive paper, films and
labels. |
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Products : |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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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
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Suppliers : |
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Customers : |
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No. of Employees : |
Information declined by the management
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Bankers : |
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Auditors : |
|
|
Name : |
BSR and Company Chartered Accountants |
|
Address : |
Delhi, India |
|
PAN N Income-tax PAN of auditor or auditor's firm : |
AAAFB9852F |
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|
|
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Ultimate Holding
Company: |
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Subsidiaries of
ultimate holding company: |
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CAPITAL STRUCTURE
As on 09.08.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
47650660 |
Equity Shares |
Rs.10/- each |
Rs.476.507 Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
47650660 |
Equity Shares |
Rs.10/- each |
Rs.476.507
Million |
FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2014 |
31.03.2012 |
31.03.2011 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
476.507 |
476.507 |
476.507 |
|
(b) Reserves & Surplus |
704.501 |
708.232 |
856.745 |
|
(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) |
1,181.008 |
1,184.739 |
1,333.252 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
11.628 |
|
(b) Deferred tax liabilities (Net) |
7.836 |
20.137 |
0.000 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
47.251 |
42.864 |
34.509 |
|
Total Non-current
Liabilities (3) |
55.087 |
63.001 |
46.137 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
3,457.592 |
2,576.654 |
1,951.284 |
|
(b) Trade
payables |
2,063.695 |
1,631.819 |
1,758.893 |
|
(c) Other
current liabilities |
223.385 |
152.256 |
121.714 |
|
(d) Short-term
provisions |
29.448 |
20.710 |
14.891 |
|
Total Current
Liabilities (4) |
5,774.120 |
4,381.439 |
3,846.782 |
|
|
|
|
|
|
TOTAL |
7,010.215 |
5,629.179 |
5,226.171 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
1,685.560 |
1,819.478 |
1,861.755 |
|
(ii)
Intangible Assets |
14.150 |
12.000 |
3.892 |
|
(iii)
Capital work-in-progress |
737.725 |
11.578 |
47.780 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
1.068 |
|
(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 |
305.017 |
213.129 |
205.387 |
|
(e) Other
Non-current assets |
1.261 |
1.237 |
4.844 |
|
Total Non-Current Assets |
2,743.713 |
2,057.422 |
2,124.726 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
1,353.141 |
1,117.194 |
1,001.104 |
|
(c) Trade
receivables |
2,580.217 |
2,118.354 |
1,711.985 |
|
(d) Cash
and cash equivalents |
68.725 |
59.648 |
59.783 |
|
(e)
Short-term loans and advances |
264.419 |
276.561 |
298.013 |
|
(f) Other
current assets |
0.000 |
0.000 |
0.560 |
|
Total
Current Assets |
4,266.502 |
3,571.757 |
3,071.445 |
|
|
|
|
|
|
TOTAL |
7,010.215 |
5,629.179 |
5,196.171 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Income |
NA |
NA |
NA |
|
|
Other Income |
NA |
NA |
NA |
|
|
TOTAL
|
NA |
NA |
NA |
|
|
|
|
|
|
|
Less |
EXPENSES |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
NA |
NA |
NA |
|
|
|
|
|
|
|
Less |
TAX |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
(1.659) |
(116.441) |
(21.957) |
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
576.973 |
693.414 |
715.371 |
|
|
|
|
|
|
|
|
Balance
Carried to the B/S |
575.314 |
576.973 |
693.414 |
|
|
|
|
|
|
|
|
EARNINGS
IN FOREIGN CURRENCY |
NA |
1333.100 |
825.800 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
(0.03) |
(2.44) |
(0.46) |
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 |
527.275 |
(160.437) |
294.016 |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Debt Equity Ratio (Total Debt /Networth) |
|
2.93 |
2.17 |
1.47 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.74 |
0.82 |
0.80 |
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 |
476.507 |
476.507 |
476.507 |
|
Reserves & Surplus |
856.745 |
708.232 |
704.501 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
1333.252 |
1184.739 |
1181.008 |
|
|
|
|
|
|
long-term borrowings |
11.628 |
0.000 |
0.000 |
|
Short term borrowings |
1951.284 |
2576.654 |
3457.592 |
|
Total
borrowings |
1962.912 |
2576.654 |
3457.592 |
|
Debt/Equity
ratio |
1.472 |
2.175 |
2.928 |
%20PRIVATE%20LIMITED%20-%20341105%2016-Sep-2015_files/image011.gif)
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 |
No |
|
8 |
Designation of contact person |
No |
|
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 |
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 |
NOTE: Registered office of the company has been shifted from A-38, Kailash Colony, New Delhi – 110 048, India to the present address w.e.f. 28.01.2015
UNSECURED LOANS:
|
Particulars |
31.03.2014 Rs. In Million |
31.03.2013 Rs. In Million |
|
SHORT TERM BORROWINGS |
|
|
|
Loans repayable on demand |
|
|
|
Overdraft facilities from banks |
1677.592 |
1226.654 |
|
Working capital facilities from Bank |
1780.000 |
1350.000 |
|
Total |
3457.592 |
2576.654 |
NOTES:
Overdraft facilities from banks carry interest ranging between 11%-13.5% p.a., computed on a daily basis on the actual amount utilized and are repayable on demand. These are covered by the corporate guarantee provided by Avery Dennison Corporation, USA.
Working Capital facilities from banks carry interest ranging between 9%-11.75% p.a., computed on a monthly basis on the actual amount utilized. These are covered by the corporate guarantee provided by Avery Dennison Corporation, USA.
COMPANY
OVERVIEW
The Company is a private limited company incorporated under the Companies Act, 1956. The Company is a downstream subsidiary of Avery Dennison Corporation USA. The Company is primarily engaged in manufacture and trading of self-adhesive paper, films and labels. The Company caters to both domestic and international markets.
INDEX OF CHARGE:
|
SR. NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
90194318 |
29/08/2001 * |
11,500,000.00 |
THE BANK OF NOVASCOTIA |
BANGLORE BRANCH; M G ROAD, BANGLORE, KARNATAKA - 560001, INDIA |
- |
|
2 |
90194273 |
07/06/2002 * |
11,500,000.00 |
STATE BANK OF INDIA |
INDUSRIAL FINANCE BRANCH, RESIDENCY ROAD, BANGLORE, KARNATAKA - 560025, INDIA |
- |
*Date of modification Charges
FIXED ASSETS:
·
Land
·
Building
·
Plant and Machinery
·
Computer
·
Vehicles
·
Furniture and Fixture
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.66.44 |
|
UK Pound |
1 |
Rs.102.41 |
|
Euro |
1 |
Rs.75.05 |
INFORMATION DETAILS
|
Information
Gathered by : |
PRT |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
KVT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILITY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
4 |
|
--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 |
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 |
|
34 |
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.