MIRA
INFORM REPORT
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Report Date : |
19.08.2011 |
IDENTIFICATION DETAILS
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Name : |
GANGWAL CHEMICALS PRIVATE LIMITED |
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Registered Office : |
25, |
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Country : |
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Financials (as on) : |
31.03.2010 |
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Date of Incorporation : |
15.06.1990 |
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Com. Reg. No.: |
11-45235 |
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Capital Investment / Paid-up Capital : |
Rs. 4.207 Millions |
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CIN No.: [Company
Identification No.] |
U24110MH1990PTC045235 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
MUMG10016G |
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PAN No.: [Permanent
Account No.] |
AAACG1463E |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer, Exporter and Importer of Pharmaceutical excipients,
Methacrylate Polymers. |
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No. of Employees : |
50 (Approximately) |
RATING & COMMENTS
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MIRA’s Rating : |
Ba (44) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 140000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Slow but Correct |
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Litigation : |
Clear |
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Comments : |
Subject is well established company having satisfactory track. Trade relations
are fair. Payments are reported slow but correct. Business is active. Company can be considered for normal 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 – June 30, 2010
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Country Name |
Previous Rating (01.04.2010) |
Current Rating (30.06.2010) |
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India |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
INFORMATION PARTED BY
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Name : |
Mr. Kalikant Mishra |
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Designation : |
Account Executive |
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Contact No.: |
91-22-28889000 |
LOCATIONS
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Registered Office : |
25, |
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Tel. No. : |
91-22-28414872/28835347/28445567 |
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E-Mail : |
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Website : |
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Area : |
1500 sq.ft. (Owned) Approximately |
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Corporate Office : |
306, Business Calssic, Chincholi Bunder, Off |
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Tel. No.: |
91-22-28889000 |
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Fax No.: |
91-22-28835347 |
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E-Mail : |
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Factory 1 : |
N 5, MIDC, Tarapur |
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Mobile No.: |
91-9321865429 |
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Contact Person: |
Mr. Acharya |
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Factory 2 : |
C/- Malad Co-operative Society Limited, 4/33/34, Malad (East),
Mumbai-400097, |
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Tel. No.: |
91-22-28836565 |
DIRECTORS
As on 30.09.2009
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Name : |
Mr. Kailashchandra N Jain |
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Designation : |
Director |
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Address: |
4/ 33, Malad Co-operative Housing Society, 7, |
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Date of Birth: |
11.01.1963 |
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Qualification : |
M. Pharma |
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Date of Appointment: |
22.11.2001 |
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Name : |
Mrs. Anita A Jain |
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Designation : |
Director |
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Address: |
4/ 34, Malad Co –operative Hoising Society Limited, Poddar Park, Malad
(East), Mumbai-400097, Maharashtra, India |
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Date of Appointment: |
15.06.1990 |
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Name : |
Mrs. Premlata K. Jain |
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Designation : |
Director |
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Address: |
4/ 33, Malad Co-operative Housing Society, 7, |
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Date of Appointment: |
15.06.1990 |
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Name : |
Mr. Anil Jain |
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Designation : |
Additional Director |
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Address : |
4/ 34, Malad Co –operative Hoising Society Limited, Poddar Park, Malad
(East), Mumbai-400097, Maharashtra, India |
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Date of Birth/Age : |
11.01.1963 |
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Qualification : |
Graduate |
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Date of Appointment: |
16.10.2007 |
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Date of Ceasing: |
24.12.2009 |
ADDITIONAL DIRECTORS
As on 24.12.2009
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Name : |
Mr. Prasad Ganpatrao Anaokar |
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Designation : |
Director |
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Address: |
11, Alankar, 1st Floor, 40, |
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Date of Birth: |
20.01.1954 |
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Date of Appointment: |
24.12.2009 |
KEY EXECUTIVES
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Name : |
Mr. Kalikant Mishra |
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Designation : |
Accounts Executive |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2009
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Names of Shareholders |
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No. of Shares |
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Kailashchandra N Jain |
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110 |
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Anil Jain |
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420500 |
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Premlata Jain |
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110 |
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Total |
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420720 |
Equity Share Breakup (Percentage of Total Equity)
As on 30.09.2009
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Category |
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Percentage of
Holding |
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Directors or relatives of directors |
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100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer, Exporter and Importer of Pharmaceutical excipients,
Methacrylate Polymers. |
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Products : |
· Excipients · Nutaceuticals · Active
Pharmaceutical Ingrediants · Amino Acids · Sweeteners · Herbal Extracts ·
Drugs and Pharmaceuticals |
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Exports : |
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Products: |
Pharmaceutical Intermediates |
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Countries : |
European Countries and |
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Imports : |
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Products : |
Raw Material |
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Countries : |
European Countries |
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Terms : |
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Selling : |
L/C, Cash and Credit (30 Days) |
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Purchasing : |
L/C, Cash and Credit (30 Days) |
GENERAL INFORMATION
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Suppliers: |
·
EAC Industrial Ingredients ( ·
Krishna Solvent Limited ·
Sigma Solvent Private Limited ·
Societe Industrielle Des Oleagineux ·
Tulsi Amrit Private Limited ·
Absorbable Polymers International ·
Ajinomoto Company, Inc ·
Avanti Polar Lipids, Inc ·
Flamma S.P.A. ·
Friends Union Enterprises Tianjin Limited ·
Sinochem Qingdao Company Limited, ·
BIOEXTRACT ·
Divis Laboratories Limited ·
GrISHMA Corporation ·
Indfrang Limited |
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Customers : |
· J. R. Industrial
Corporation · Maahan Proteins
Limited · Penguin Agencies · Rasio Benecol
Limited · Blanver
Farmoquimica Limited · Omniofab
Engineers · Samsung Fine
Chemicals Company Limited · Ruchi Soya
Industry Limited · Nigbao Create
Biologicals Projects Company · Sun Opta · Thermax Limited · V.P Sathyamurthi · Hi Herbs Extract
Udyog End Users and OEM’s |
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No. of Employees : |
50 (Approximately) |
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Bankers : |
· Citi Bank, Citi
Business,Citi Group, Centre, 2nd Floor, Bandra Kurla Complex,
Bandra (East), Mumbai-400051, · State Bank of · ABN Amro Bank ICICI Bank Limited |
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Facilities : |
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Banking
Relations : |
-- |
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Financial
Institute: |
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Auditors : |
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Name : |
Sunil M Jain and Associates Chartered Accountant |
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Address : |
Shop No. 3, Regency, |
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Tel No.: |
91-22-28891689 |
CAPITAL STRUCTURE
As on 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
1000000 |
Equity Shares |
Rs. 10/- each |
Rs. 10.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
420720 |
Equity Shares |
Rs. 10/-
each |
Rs. 4.207
Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
4.207 |
4.207 |
4.207 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
31.233 |
24.511 |
17.718 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
35.440 |
28.718 |
21.925 |
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LOAN FUNDS |
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1] Secured Loans |
11.755 |
15.766 |
5.357 |
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2] Unsecured Loans |
17.366 |
11.036 |
12.280 |
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TOTAL BORROWING |
29.121 |
26.802 |
17.637 |
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DEFERRED TAX LIABILITIES |
0.097 |
0.000 |
0.000 |
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TOTAL |
64.658 |
55.520 |
39.562 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
39.842 |
38.753 |
26.741 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.007 |
0.007 |
0.007 |
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DEFERREX TAX ASSETS |
0.000 |
0.259 |
0.180 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
18.506
|
17.085
|
12.160
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Sundry Debtors |
38.811
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38.293
|
23.291
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Cash & Bank Balances |
3.453
|
2.920
|
3.570
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Other Current Assets |
5.554
|
3.993
|
2.415
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Loans & Advances |
19.788
|
11.497
|
8.409
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Total
Current Assets |
86.112
|
73.788
|
49.845
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditors |
29.170
|
24.936
|
15.545
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Other Current Liabilities |
25.072
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23.406 |
14.014
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Provisions |
7.072
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8.960
|
7.671
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Total
Current Liabilities |
61.314
|
57.302
|
37.230
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Net Current Assets |
24.798
|
16.486
|
12.615
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MISCELLANEOUS EXPENSES |
0.011 |
0.015 |
0.019 |
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TOTAL |
64.658 |
55.520 |
39.562 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
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SALES |
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Income |
254.077 |
186.353 |
101.409 |
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Other Income |
1.421 |
5.893 |
5.171 |
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TOTAL (A) |
255.498 |
192.246 |
106.580 |
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Less |
EXPENSES |
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Purchases |
|
128.840 |
71.309 |
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Other Direct Cost |
240.334 |
22.625 |
8.790 |
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Administrative Expenses |
|
27.697 |
17.088 |
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Increase/ Decrease in Stock |
|
[4.925] |
[1.414] |
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TOTAL (B) |
240.334 |
174.237 |
95.773 |
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Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
15.164 |
18.009 |
10.807 |
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Less |
FINANCIAL
EXPENSES (D) |
NA |
5.073 |
2.236 |
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PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
15.164 |
12.936 |
8.571 |
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Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
4.221 |
3.002 |
1.526 |
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PROFIT BEFORE
TAX (E-F) (G) |
10.943 |
9.934 |
7.045 |
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Less |
TAX (H) |
4.221 |
3.141 |
2.436 |
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PROFIT AFTER TAX
(G-H) (I) |
6.722 |
6.793 |
4.609 |
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Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
24.511 |
17.718 |
13.109 |
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BALANCE CARRIED
TO THE B/S |
31.233 |
24.511 |
17.718 |
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EARNINGS IN
FOREIGN CURRENCY |
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Export Earnings |
17.644 |
23.374 |
NA |
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TOTAL EARNINGS |
17.644 |
23.374 |
NA |
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IMPORTS |
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Import Value |
114.012 |
84.894 |
NA |
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TOTAL IMPORTS |
114.012 |
84.894 |
NA |
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Earnings Per
Share (Rs.) |
15.98 |
-- |
-- |
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KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
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PAT / Total Income |
(%) |
2.63
|
3.53
|
4.32
|
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Net Profit Margin (PBT/Sales) |
(%) |
4.31
|
5.33
|
6.95
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Return on Total Assets (PBT/Total Assets} |
(%) |
8.69
|
8.83
|
9.20
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Return on Investment (ROI) (PBT/Networth) |
|
0.31
|
0.35
|
0.32
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Debt Equity Ratio (Total Liability/Networth) |
|
2.55
|
2.93
|
2.50
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Current Ratio (Current Asset/Current Liability) |
|
1.40
|
1.29
|
1.34
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LOCAL AGENCY FURTHER INFORMATION
Trade References:
·
Ruchi Soya Industries Limited
·
Thermax Limited
·
Absorbable Polymers Inc.
Activities:
The company has continued its activity of Dealing in Drugs,
Pharmaceuticals and Herbal Products. Because of recessionary trend in general
economy market since long time. The performance of the company has been
affected. The directors are putting their best efforts to expand the business
of Dealing in Drugs, Pharmaceuticals and Herbal Products and are helpful for
better performance in the years to come. The company has commenced the
manufacturing of pharmaceuticals intermediates excepient and Active
Pharmaceutical Ingredients.
Bankers Charges
Report as per Registry
|
Name of the company |
GANGWAL CHEMICALS PRIVATE LIMITED |
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Presented By |
State Bank of |
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1) Date and description of instrument creating the change |
a. Agreement of
Hypothecation of Goods and Assets b. Letter
regarding the grant of Individual limits within the overall limit. Both the above
agents, are dated 17.03.2005 and executed for the creations of a single
charge. |
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2) Amount secured by the charge/amount owing on the securities of charge |
Rs. 8.675
Millions
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3) Short particular of the property charged. If the property acquired is subject to charge, date of the acquired of the property should be given |
All Present and future
goods bookdebts and all other movable assets of the borrower including
moneys, receivables including receivables by way of cash assistance and / or
cash Incentives scheme claims including by way of refund of customs/ excise
duties under he Duty Drawback credit scheme or any other scheme, bills,
invoices, documents, contracts, Insurance policies, guarantees, engaments,
securities, Investments and right and the present and all future machinery |
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4) Gist of the terms and conditions and extent and operation of the charge. |
Rate of Interest DCC (Stocks) :
11.25% DCC (Book Debts)
: 11.25% Stand by Line of
Credit : 11.25% Margin: Finished goods :
33.33% Book debts/
Receivables: 40% Term Loan: 52% Repayment (Term
Loan) Rs. 1.200 Millions In 24 monthly
installments of R.s 0.050 Million each
(First Installments due on April 11, 2005) |
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5) Name and Address and description of the person entitled to the charge. |
State Bank of |
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6) Date and brief description of instrument modifying the charge |
Not Applicable |
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7) Particulars of modifications specifying the terms and conditions or the extent of operations of the charge in which modification is made and the details of the modification. |
Not Applicable |
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Corporate
identity number of the company |
U24110MH1990PTC045235 |
|
Name of the
company |
GANGWAL CHEMICALS PRIVATE LIMITED |
|
Address of the registered
office or of the principal place of
business in |
25, |
|
This form is for |
Modification of
charge |
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Charge identification
number of the charge to be modified |
10097090 |
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Type of charge |
Immovable Property |
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Particular of
charge holder |
Citi Bank, Citi Business,Citi Group, Centre, 2nd Floor,
Bandra Kurla Complex, Bandra (East), Mumbai-400051, |
|
Nature of
instrument creating charge |
Modification to
Memorandum of Entry |
|
Date of
instrument Creating the charge |
14.01.2010 |
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Amount secured by
the charge |
Rs. 32.000
Millions |
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Brief of the principal
terms an conditions and extent and operation of the charge |
Rate of Interest The Borrower
shall pay interest such rate as may be determined by Citibank NA form time to
time. Terms of
Repayment On Demand Margin Company shall at all
times during the continuance of this security maintain a sufficient amount to
provide the margin of security as may from time to time advised by the banks. Extent and
Operation of the charge Company accorded
and gave oral consent to the Citibank and Citibank acting for itself and as
agent of 3i-Infotech Trusteeship Services Limited (“Security Trustee for
ICICI Bank and hereinafter referred to as ICICI Bank Limited”) to continue to
hold and retain the title deeds (by way of constructive delivery) in respect
of its immovable properties as mentioned under items no. 15 as security. Others The charge
created in favour of Citibank N.A. for their Credit facility of Rs. 32.000
Millions, shall rank pari passu first charge with ICICI bank limited for
their working capital facility of Rs. 2.000 Millions and Term Loan of Rs.
15.600 Millions. |
|
Short particulars
of the property charged |
Equitable
Mortgage on property including Land and Building situated at 306, 3rd
Floor, CTS No. 10A of Village Chincholi Taluka, Malad (West), Mumbai-400064, |
|
Particulars of
the present modification |
The mortgage/
charge shall now stand increased from Rs. 22.000 Millions to Rs. 32.000
Millions in favour of Citibank NA |
|
This form is for |
Creation of
charge |
|
Corporate
identity number of the company |
U24110MH1990PTC045235 |
|
Name of the
company |
GANGWAL CHEMICALS PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
25, |
|
Type of charge |
Immovable
Property |
|
Particular of
charge holder |
Citi Bank, Citi Business,Citi Group, Centre, 2nd Floor,
Bandra Kurla Complex, Bandra (East), Mumbai-400051, |
|
Nature of
description of the instrument creating or modifying the charge |
Memorandum of
Entry |
|
Date of
instrument Creating the charge |
05.02.2008 |
|
Amount secured by
the charge |
RS. 22.000 Millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest The Borrower
shall pay interest such rate as may be determined by Citibank NA form time to
time. Terms of Repayment Loan shall be
Repayable on Demand Margin Company shall at
all times during the continuance of this security maintain a sufficient
amount to provide the margin of security as may from time to time advised by
the bank Extent and Operation of the charge Equitable
mortgage created by deposit of title deeds in respect of immovable properties
more particularly described column no. 14 as security for due payment
discharge and redemption of credit facilities together with interest,
additional interest, liquidated damages, commitment charges, premia on
repayment or on redemption, costs, expenses and other monies due and payable
by the company to the bank |
|
Short particulars
of the property charged |
Equitable
Mortgage on property including land and building situated at No. 306, 3rd
Floor, Business Classic, Chincholi Bunder Road, Malad (West), Mumbai-400064,
Maharashtra, India |
Fixed Assets:
·
Land
·
Computers
·
Office Equipments
·
Furniture and Fixtures
·
Motor Car
·
Aqua Guard
·
Air Conditioner
·
Telephone Systems
·
Office Premises
·
Laboratories Equipments
AS PER WEBSITE
Profile:
Subject was founded in 1987 with a single mission, and that was
to provide its customers the Speciality Ingredients of proven quality from the
well - known sources located around the world. For achieving this mission,
Subject has a team of techno - commercial people that are headed by Mr. K. C.
Jain who has over four decades of experience in R and D, Manufacturing and
Projects in various leading pharmaceuticals organizations like Pfizer, Roussel,
and Ipca etc. The wide range of product portfolio represents National and
International Companies of high standards form
As time moves on and research continues, you require a
single window Speciality Pharma Ingedrient provider to cater to all the needs
pro-actively. And that one choice, which caters to all the needs, is the one
that promises trust, tradition, integrity and Progress. And therefore Gangwal
With the flow of time and the increasing consciousness of
people towards good health subject has now put a step ahead into
Nutraceuticals, Amino Acids and Plant Extracts. Gangwal today is an established
name in Pharma, Food and Chemical Industry and is constantly growing as a
complete service provider for Controlled Drug Delivery System, Speciality
Excipients, Nutraceuticals, Speciality APIs, and Natural Extracts etc. To maintain
the commitment, they constantly keep expand the expertise in Excipients and
Nutraceuticals through intensive market research and development. They
understand the Pharmaceutical business and its requirements, and thus work
closely and confidentially with all the Pharma Customers.
To achieve the business objective, they execute cost
effective and quality products for the customers providing cGMP compliant
products manufactured in FDA inspected, ISO certified facilities.
They possess ability to offer quality products at the right
time and at competitive prices and this is possible because of the innovative
and marketing efforts. The inherent strength lies in identifying and delivering
relevant NDDS for pharmaceutical manufacturers.
The focus is to provide Skill, Knowledge and Technical
expertise to help the Customers achieve desired solutions. Gangwal helps you
build a bridge from Research and Development to Manufacturing of formulations
and the Technical support guarantees the project a smooth progression.
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.45.61 |
|
|
1 |
Rs.75.32 |
|
Euro |
1 |
Rs.65.68 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
5 |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
44 |
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.