1. Summary Information
|
Country |
|
||
|
Company Name |
PAI INTERNATIONAL ELECTRONICS LIMITED |
Principal Name 1 |
MR. S. RAJKUMAR PAI |
|
Status |
SATISFACTORY |
Principal Name 2 |
MRS. MEENA RAJKUMAR PAI |
|
Registration # |
08-035984 |
||
|
Street Address |
28A/1, |
||
|
Established Date |
04.04.2005 |
SIC Code |
- |
|
Telephone# |
91-80-25219466 |
Business Style 1 |
SELLER |
|
Fax # |
91-80-22973818 |
Business Style 2 |
- |
|
Homepage |
- |
Product Name 1 |
ELECTRONIC |
|
# of employees |
45 (Approximately) |
Product Name 2 |
CONSUMER DURABLE GOODS |
|
Paid up capital |
Rs.7,700,000/- |
Product Name 3 |
- |
|
Shareholders |
DIRECTORS OR RELATIVES OF DIRECTORS – 100% |
Banking |
CITI BANK |
|
Public Limited Corp. |
NO |
Business Period |
6 YEARS |
|
IPO |
NO |
International Ins. |
- |
|
Public |
NO |
Rating |
Ba (41) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
CEO |
|
- |
- |
- |
- |
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2010 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
117,645,000
|
Current Liabilities |
128,522,000
|
|
Inventories |
187,744,000
|
Long-term Liabilities |
231,687,000 |
|
Fixed Assets |
164,526,000 |
Other Liabilities |
0
|
|
Deferred Assets |
0 |
Total Liabilities |
360,209,000 |
|
Invest& other Assets |
2,536,000 |
Retained Earnings |
104,542,000 |
|
|
|
Net Worth |
112,242,000 |
|
Total Assets |
472,451,000 |
Total Liab. & Equity |
472,451,000 |
|
Total Assets (Previous Year) |
394,730,000 |
|
|
|
P/L Statement as of |
31.03.2010 |
(Unit: Indian Rs.) |
|
|
Sales |
1,699,952,000 |
Net Profit |
27,033,000 |
|
Sales(Previous yr) |
1,440,398,000 |
Net Profit(Prev.yr) |
21,654,000 |
MIRA INFORM REPORT
|
Report Date : |
08.04.2011 |
IDENTIFICATION DETAILS
|
Name : |
PAI INTERNATIONAL ELECTRONICS LIMITED |
|
|
|
|
Formerly Known As : |
PAI INTERNATIONAL HOME APPLIANCE AND ELECTRONICS LIMITED |
|
|
|
|
Registered Office : |
28A/1, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.03.2010 |
|
|
|
|
Date of Incorporation : |
04.04.2005 |
|
|
|
|
Com. Reg. No.: |
08-035984 |
|
|
|
|
CIN No.: [Company
Identification No.] |
U05190KA2005PLC035984 |
|
|
|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
BLRP06834C |
|
|
|
|
PAN No.: [Permanent
Account No.] |
AADCP8329B |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business : |
Seller of Electronic
and Consumer Durable Goods. |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (46) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 440000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track. Trade
relations are reported as fair. Business is active. Payments are reported to
be usually correct and as per commitments. The company can be considered normal 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 – April 1, 2010
|
Country Name |
Previous Rating (31.12.2009) |
Current Rating (01.04.2010) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
LOCATIONS
|
Registered Office : |
28A/1, |
|
Tel No. |
91-80-25219466/ 25219467/ 22973815/ 22973817 |
|
Fax No.: |
91-80-22973818 |
|
E-Mail : |
|
|
|
|
|
Other Offices : |
Located
at: Indira Nagar: 100, ft Road Phone: 91-80 25219466/67
R.T. Nagar : Opposite HMT Ground Phone: 91-80 23539783/84
Vijaya Nagar : Service Road Phone: 91-80 23501041/42
Koramangla: Near Sukh Sagar Phone: 91-80 25503624/25
Peenya : Phone: 91-80 28396717/22973924
Yelahanka : Phone: 91-80 29565249/296
Marathahalli : Outer Ring Road, Opposite Multiplex. Phone: 91-80 25227437 , 25227421
Banerghatta Main road : Diagnally Opposite To Janardhan Towers Phone: 91-80 41304204/05 |
DIRECTORS
As On : 29.09.2010
|
Name : |
Mr. Srinivasa Rajkumar Pai |
|
Designation : |
Director |
|
Address : |
No. 42, Ramaswamy Layout, Bayappanahalli Extension, |
|
Date of Birth/ Age: |
12.05.1963 |
|
Date of Appointment : |
04.04.2005 |
|
DIN No : |
01726393 |
|
|
|
|
Name : |
Mrs. Meena Rajkumar Pai |
|
Designation : |
Director |
|
Address : |
No. 42, Ramaswamy Layout, Bayappanahalli Extension, |
|
Date of Birth/ Age: |
30.06.1970 |
|
Date of Appointment : |
04.04.2005 |
|
DIN No : |
01653949 |
|
|
|
|
Name : |
Mr. Srinivasa Guruprasad Pai |
|
Designation : |
Director |
|
Address : |
No. 42, Ramaswamy Layout, Bayappanahalli Extension, |
|
Date of Birth/ Age: |
28.01.1959 |
|
Date of Appointment : |
04.04.2005 |
|
DIN No : |
01726532 |
|
|
|
|
Name : |
Ms. Srinivasa Pushpa |
|
Designation : |
Director |
|
Address : |
No. 42, Ramaswamy Layout, Bayappanahalli Extension, |
|
Date of Birth/ Age: |
08.07.1965 |
|
Date of Appointment : |
04.04.2005 |
|
DIN No : |
01726771 |
|
|
|
|
Name : |
Ms. Nirmala Prabhu |
|
Designation : |
Director |
|
Address : |
No. 42, Ramaswamy Layout, Bayappanahalli Extension, |
|
Date of Birth/ Age: |
28.12.1984 |
|
Date of Appointment : |
04.04.2005 |
|
DIN No : |
01726634 |
|
|
|
|
Name : |
Mr. Guruprasad Damodar Pai |
|
Designation : |
Director |
|
Address : |
No. 42, Ramaswamy Layout, Bayappanahalli Extension, |
|
Date of Birth/ Age: |
16.01.1986 |
|
Date of Appointment : |
04.04.2005 |
|
DIN No : |
01764747 |
|
|
|
|
Name : |
Mrs. Guruprasad Asha Pai |
|
Designation : |
Director |
|
Address : |
No. 42, Ramaswamy Layout, Bayappanahalli Extension, |
|
Date of Birth/ Age: |
15.08.1962 |
|
Date of Appointment : |
04.04.2005 |
|
DIN No : |
01790759 |
|
|
|
|
Name : |
Mr. S. Uttam Kumar Pai |
|
Designation : |
Director |
|
Address : |
No. 423, Damodara Krupa, |
|
Date of Birth/ Age: |
01.07.1960 |
|
Date of Appointment : |
04.04.2005 |
|
DIN No : |
01914387 |
|
|
|
|
Name : |
Mr. S. Ajith Kumar Pai |
|
Designation : |
Director |
|
Address : |
Srinivasa No. 2-15-1317/4, Bejai, Mangalore – 575 004, |
|
Date of Birth/ Age: |
18.02.1962 |
|
Date of Appointment : |
04.04.2005 |
|
DIN No : |
01764673 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 29.09.2010
|
Names of Shareholders |
|
No. of Shares |
|
S. Rajkumar Pai |
|
75500 |
|
Meena Rajkumar Pai |
|
250 |
|
S. Guruprasad Pai |
|
250 |
|
S. Pushpa |
|
250 |
|
G. Asha Pai |
|
50 |
|
Nirmala |
|
150 |
|
G. Damodar Pai |
|
50 |
|
S. Uttam Kumar Pai |
|
250 |
|
S. Ajith Kumar Pai |
|
250 |
|
Total
|
|
77000 |
AS ON 29.09.2010
|
Equity Share
Breakup |
|
Percentage of
Holding |
|
Category |
|
|
|
Directors or relatives of directors |
|
100.00 |
|
|
Total
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Seller of Electronic
and Consumer Durable Goods. |
|
|
|
|
Products : |
|
GENERAL INFORMATION
|
Suppliers : |
|
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No. of Employees : |
45 (Approximately) |
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Bankers : |
·
Citi Bank N.A., Prestige Meridian 2, 30, M.G. Road,
Bangalore – 560 001, Karnataka, India ·
Syndicate Bank, 663, 1st Main, Defence
Colony, Indiranagar, Bangalore-560 038, Karnataka, India |
||||||||||||||||||||||||||||||||||||
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Facilities : |
|
|
|
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Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
B.N. Sudarshan and Company Chartered Accountants |
|
Address : |
No. 386/A, 5th Main, Srinagar, Banglore-560050, Karnataka,
India |
CAPITAL STRUCTURE
As On : 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
100000 |
Equity Shares |
Rs. 100/- each |
Rs. 10.000 millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
77000 |
Equity Shares |
Rs. 100/- each |
Rs. 7.700
millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
7.700 |
7.700 |
7.700 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
104.542 |
78.703 |
57.819 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
112.242 |
86.403 |
65.519 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
216.687 |
116.396 |
92.707 |
|
|
2] Unsecured Loans |
15.000 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
231.687 |
116.396 |
92.707 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
343.929 |
202.799 |
158.226 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
164.526 |
81.223 |
36.714 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
2.500 |
2.500 |
2.500 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
187.744
|
104.627
|
101.703
|
|
|
Sundry Debtors |
16.914
|
13.878
|
15.973
|
|
|
Cash & Bank Balances |
52.386
|
69.837
|
16.307
|
|
|
Other Current Assets |
0.353
|
0.452
|
0.345
|
|
|
Loans & Advances |
47.992
|
36.655
|
47.801
|
|
Total
Current Assets |
305.389
|
225.449 |
182.129 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
96.809
|
85.486
|
42.637
|
|
|
Other Current Liabilities |
0.000
|
0.000
|
0.000
|
|
|
Provisions |
31.713
|
20.959
|
20.588
|
|
Total
Current Liabilities |
128.522
|
106.445
|
63.225
|
|
|
Net Current Assets |
176.867
|
119.004
|
118.904
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.036 |
0.072 |
0.108 |
|
|
|
|
|
|
|
|
TOTAL |
343.929 |
202.799 |
158.226 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
1699.952 |
1440.398 |
1242.725 |
|
|
|
Other Income |
5.225 |
1.134 |
1.494 |
|
|
|
TOTAL (A) |
1705.177 |
1441.532 |
1244.219 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Goods Sold |
1509.916 |
1274.957 |
1109.749 |
|
|
|
Salaries and Employee Benefits |
33.039 |
28.931 |
24.933 |
|
|
|
Administrative Expenses |
54.132 |
50.140 |
33.096 |
|
|
|
Selling Expenses |
43.765 |
33.209 |
12.979 |
|
|
|
TOTAL (B) |
1640.852 |
1387.237 |
1180.757 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
64.325 |
54.295 |
63.462 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
19.250 |
17.915 |
10.457 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
45.075 |
36.380 |
53.005 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
3.350 |
2.287 |
1.315 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
41.725 |
34.093 |
51.690 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
14.692 |
12.439 |
19.389 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
27.033 |
21.654 |
32.301 |
|
|
|
|
|
|
|
|
|
Less |
Dividend on
Equity Shares |
1.155 |
0.770 |
0.000 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
78.703 |
57.819 |
25.518 |
|
|
|
|
|
|
|
|
|
Less |
INCOME TAX
ADJSTMENT FORM LAST YEAR |
0.039 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
104.542 |
78.703 |
57.819 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
351.08 |
281.22 |
419.49 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
1.58
|
1.50
|
2.60
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
2.45
|
2.37
|
4.16
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
8.88
|
11.12
|
23.62
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.37
|
0.39
|
0.79
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
3.21
|
2.58
|
2.38
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.38
|
2.12
|
2.88
|
LOCAL AGENCY FURTHER INFORMATION
OUT LOOK FOR CURRENT YEAR
The company is in
an expansion mode. The five own showrooms where buildings are constructed have started
commercial activity during the current fiscal. The full year effect will be
seen in 2010-11. It is also planning to venture to other states as well in the
coming years. The company has started whole sale business of Mobile which would
give a turnover of about 1000.000 millions and the overall turnover is expected
to be around 3600.000 millions for 2010-2011
FORM 8
|
Corporate
identity number of the company |
U05190KA2005PLC035984 |
|
Name of the
company |
PAI
INTERNATIONAL ELECTRONICS LIMITED |
|
Address of the
registered office or of the principal place of business in |
28A/1, 100 Feet Road, Indira Nagar, Bangalore – 560 038, Karnataka,
India |
|
This form is for |
Modification of charge |
|
Type of charge |
Immovable property Book debts Movable property (not being pledge) Others |
|
Particular of
charge holder |
Citi Bank N.A., Prestige Meridian 2, 30, M.G. Road, Bangalore – 560
001, Karnataka, India |
|
Nature of
instrument creating charge |
Deed
of Modification Memorandum of Entry |
|
Date of
instrument Creating the charge |
28.06.2010 |
|
Amount secured by
the charge |
Rs. 190.000 millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of interest 8% p.a. Terms of
repayment Repayable on demand Margin Stock:28% Book
Debts :37% Plant
and Machinery:37% Extent and
operation of the charge First
Charge on Stocks, Book Debts and Plant and Machinery |
|
Short particulars
of the property charged (Including location of the property) |
Hypothecation
by way of first charge on Stock, Book Debts and Plant and Machinery forming
part of the Current and Movable Fixed Assets both present and future located
at the premises in India. Equitable
Mortgage by deposit of title deeds of immovable property at No. 21 and 30,
Banshankari III Stage Layout, Bangalore and property at No. 27 and 28A/1,
100ft Road, Indiranagar, Bangalore Property
at Old No. 37 and 37/1(new Nos. 56, 57) Old Madras Road, Ulsoor, Division 79,
Bangalore and No. 9B,Door
No.2-17-1465/1,2,3, Kodialbail Village, Mangalore Taluk |
|
Whether any of
the property or interest therein under reference is not registered in the
name of the company. |
Yes |
|
If yes, in whose
name it is registers |
Mr. Ajit Kumar Pai and Mr. S Rajkumar Pai |
|
Charge
identification number of the charge to be modified |
10007396 |
|
Date of
instrument modifying the charge |
01.07.2008 |
|
Particulars of
the present modification |
Limit
Enhanced from Rs. 120.000 millions to Rs.190.000 millions. Security of
movable and immovable property extended to the Enhanced Limits and all other
Terms and Conditions remain unchanged. |
FIXED
ASSETS:
- Land and
Building
- Computers
- Software
- Printer
- UPS
- Generator
- Office
Equipments
- Office
Interiors
- Vehicles
- Furniture and
Fixtures
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 records 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.44.22 |
|
|
1 |
Rs.71.97 |
|
Euro |
1 |
Rs.63.23 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--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 |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
46 |
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.