MIRA
INFORM REPORT
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Report Date : |
24.08.2011 |
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Tel. No.: |
67933200 |
IDENTIFICATION DETAILS
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Name : |
RADHAKRISHNA FOODLAND PRIVATE LIMITED |
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Registered
Office : |
Radhakrishna House, Majiwade Village Road, Majiwade, Thane-400601, Maharashtra |
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Country : |
India |
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Financials (as
on) : |
31.03.2010 |
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Date of
Incorporation : |
06.10.1987 |
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Com. Reg. No.: |
11-44894 |
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Capital
Investment / Paid-up Capital : |
Rs.1487.614 Millions |
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CIN No.: [Company Identification
No.] |
U51900MH1987PTC044894 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
PNER06098B |
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PAN No.: [Permanent Account No.] |
AABCR8854K |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Wholesalers, Retailers, Importers, Exporters, Distributors and
Packagers of all types of Food Items |
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No. of Employees
: |
150 (Approximately) |
RATING & COMMENTS
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MIRA’s Rating : |
B (26) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
USD 1900000 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow |
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Litigation : |
Clear |
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Comments : |
Subject is an established Company having moderate track. There appears
huge accumulated losses recorded by the company. However, trade relations are
reported as fair. Business is active. Payments are reported to be slow. The company can be considered for business dealings with some caution.
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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
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Country Name |
Previous Rating (31.12.2009) |
Current Rating (01.04.2010) |
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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 |
LOCATIONS
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Registered Office : |
Radhakrishna House, Majiwade Village Road, Majiwade, Thane-400601, Maharashtra, India |
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Tel. No.: |
91–22–55986464 / 56464400 / 67986464 / 25372881 |
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Fax No.: |
91-22-56464499 / 55971767 / |
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E-Mail : |
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Website : |
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Branch Office: |
·
1, Mermaid, Juhu Tara Road, Juhu, Mumbai –
400049, Maharashtra, India Tel No :- 91-22-26184365 Fax No :- 91-22-26113502 ·
C-8, Phase II, Noida- 201305, Uttar Pradesh,
India Tel No :- 91-120-2567894 Fax No:- 91-120-2567893 ·
Navi Mumbai |
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Corporate Office : |
Valeda Chambers, 4A, 4th Floor, Plot No. B-6, New Link Road, Andheri
(W), Mumbai – 400053 |
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Tel. No.: |
91-22-56464400 |
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Fax No.: |
91-22-56464499 |
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Warehouse / Cum Office : |
Food Park, Sector KWC, Plot No. 1, Kalamboli 410218, Taluka Panvel,
District Raigad, Maharashtra, India |
DIRECTORS
AS ON 30.09.2010
|
Name : |
Mr. Raju R. Shete |
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Designation : |
Chairman and Managing Director |
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Address : |
7-A, Lohtse Ruia Park, Juhu Tara Road, Juhu, Mumbai-400049,
Maharashtra, India |
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Date of Birth/Age : |
24.06.1961 |
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Date of Appointment : |
30.03.2002 |
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Din No.: |
00371439 |
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Name : |
Mr. Alian F. Dupuis (Belgian) |
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Designation : |
Director |
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Address : |
23, Boulevard Saandeau, Paris, France |
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Date of Birth/Age : |
09.08.1944 |
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Date of Appointment : |
21.02.2000 |
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Din No.: |
02061652 |
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Name : |
Mr. Homi Aibara |
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Designation : |
Director |
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Address : |
25, Nepean Sea Road, Mumbai-400036, Maharashtra, India |
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Date of Birth/Age : |
11.07.1953 |
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Date of Appointment : |
21.02.2000 |
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Din No.: |
00273262 |
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Name : |
Mr. Sudhir P Rao |
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Designation : |
Director |
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Address : |
12F, Regatia #3, Sardar, Patel Road, Taramani Chennai - 600113,
Tamilnadu, India |
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Date of Birth/Age : |
15.04.1961 |
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Date of Appointment : |
04.08.2009 |
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Name : |
Mr. Vishal Kashyap Mahadevia |
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Designation : |
Director |
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Address : |
81, Landmark, Carmichael Road, Mumbai 400026, Maharashtra, India |
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Date of Birth/Age : |
19.12.1972 |
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Date of Appointment : |
22.11.2006 |
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Name : |
Mr. Hitesh Reshamwala |
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Designation : |
Director |
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Address : |
123, Tirupati Towers A, Thakur Complex, Kandivali (East), Mumbai – 400
101, Maharashtra |
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Date of Birth/Age : |
15.11.1965 |
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Date of Appointment : |
17.04.2009 |
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Din No.: |
00367482 |
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Name : |
Mr. Ragvinder Singh Rekhi |
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Designation : |
Director |
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Address : |
51, Oak Street, Burr Ridge IL 60527-8388 |
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Date of Birth/Age : |
13.09.1949 |
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Date of Appointment : |
03.05.2004 |
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Date of Cessation |
31.03.2009 |
KEY EXECUTIVES
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Name : |
Mrs. Sushma Arora |
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Designation : |
Secretary |
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Address : |
202, Hillgarage Building, Hiranandani Estate, Ghodbunder Road, Thane
(West), Mumbai – 400607, India |
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Date of Birth/Age : |
26.08.1971 |
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Date of Appointment : |
07.10.2002 |
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Pan No.: |
ABBPA0034C |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2010
|
Names of Shareholders (Equity Shares ) |
|
No. of Shares |
|
Raju Shete |
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79000 |
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Hemal Shete |
|
158400 |
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Indira Shete |
|
158400 |
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Raju Shete |
|
66400 |
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Radhakrishna Shete |
|
113750 |
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Arjun Shete |
|
113750 |
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Portlog Overseas Holdings Limited |
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4123032 |
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Radhakrishna Restaurants Private Limited |
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5129541 |
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Total |
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9942273 |
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Names of Shareholders (Preference Shares ) |
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No. of Shares |
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Portlog Overseas Holdings Limited |
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5025021 |
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Total |
|
5025021 |
AS ON 30.09.2010
|
Category |
Percentage |
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Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s),
Non-resident Indian(s) or Overseas Corporate bodies or Others |
41.47 |
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Bodies corporate |
51.59 |
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Directors or relatives of Directors |
6.94 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Wholesalers, Retailers, Importers, Exporters, Distributors and
Packagers of all types of Food Items |
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Products : |
Provisions, Groceries and Beverages |
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Services : |
Broadline Food Distribution Company |
GENERAL INFORMATION
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Customers : |
Processors ·
Frito Lays ·
Allana ·
Convenio Foods ·
Chambal Fertilizers ·
ITC Ltd ·
NDDB ·
Pagro Foods ·
Supreme Suguna ·
Vista Foods Manufacturers ·
Amul ·
Cadbury ·
Hindustan Lever limited ·
Mccain Retail Chains ·
Walmart ·
Foodland Fresh Hospitality ·
RkhS QSR Chains ·
Pizzahuts ·
Nandos |
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No. of Employees : |
150 (Approximately) |
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Bankers : |
·
ICICI
Bank Limited ICICI Bank Towers, Bandra Kurla Complex, Mumbai 400051 ·
ICICI
Bank Limited Land Mark Race Cource Circle, Alkapuri, Baroda, Gujarat 390015, India ·
State
Bank of India, Suvart Building, TemBui Naka, Thane (West), Maharashtra, India. ·
Global
Trust Bank Limited JVPD Scheme, Vile Parle (West) – 400 056, Mumbai, Maharashtra, India ·
Kotak
Mahindra Bank Limited, 36-38A, Nariman Bhavan , 227, D, Nariman point, Mumbai
– 400 021, Maharashtra ·
Bank of
Maharashtra Juhu, Vile Parle, Mumbai- 400056 ·
Thane
Bharat Sahakari Bank Limited, Shatataraka, Baji Prabhu Deshpande Marg, Naupada, Thane
(West), Thane – 400602, Maharashtra, India |
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Facilities : |
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Banking
Relations : |
--- |
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Auditors : |
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Name : |
AMJ and Company Chartered Accountant |
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Address : |
59, Maker Tower ‘F’, Cuffe Parade, Mumbai – 400005, Maharashtra, India
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Holding Company : |
·
Radhakrishna Restaurants Private Limited CIN No.: U55101MH200PTC170771 ·
Portlog Overseas Holding Limited |
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Company in which a director is the director or member : |
·
Sodexo Food Solution (India) Private Limited
(formerly known as Radhakrishna Hospitality Services Private Limited) ·
Radhakrishna Consumer Services Private Limited ·
Cardigen Investment and Trading Private Limited ·
Unisol Infraservices Private Limited ·
Gift Holding Private Limited |
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Subsidiaries : |
·
Foodland Retail Solutions Private Limited
(Formerly Spar Retail Solutions Private Limited) CIN No.: U51900MH1996PTC096128 ·
Radhakrishna Foodland Carriers Private Limited CIN No.: U51900MH1997PTC112119 ·
Arksoft Enterprise Private Limited CIN No.: U74210MH1999PTC123202 |
CAPITAL STRUCTURE
AS ON 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
10500000 |
Equity Shares |
Rs.100/- each |
Rs.1050.000 Millions |
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5500000 |
Preference Shares |
Rs.100/- each |
Rs.550.000 Millions |
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Total |
|
Rs.1600.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
9851119 |
Equity Shares |
Rs.100/-
each |
Rs.985.111
Millions |
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|
5025021 |
5% Non Cumulative Compulsory Convertible Preference Shares |
Rs.100/-
each |
Rs.502.502
Millions |
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|
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Total |
|
Rs.1487.614 Millions |
Note :
·
Convertible not later
than 9 years but not earlier than 5 years from date of issue i.e. into Equity
Shares of Rs. 100 each by giving 3 months prior notice, at conversion price as
determined by Chartered Accountant at the time of conversion.
·
Of the above 5,129,541
equity shares are held by Radhakrishna Restaurants Private Limited (2008 - 09 :
Rs. 4.829 millions) the holding company.
As on : 13.09.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
16000000 |
Equity Shares |
Rs.100/- each |
Rs.1600.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
14967294 |
Equity Shares |
Rs.100/-
each |
Rs.1496.729
Millions |
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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 |
1487.614 |
721.865 |
721.865 |
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2] Share Application Money |
9.115 |
205.826 |
0.000 |
|
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3] Reserves & Surplus |
885.016 |
885.016 |
885.016 |
|
|
4] (Accumulated Losses) |
(1896.517) |
(1767.951) |
(1014.941) |
|
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NETWORTH |
485.228 |
44.756 |
591.940 |
|
|
LOAN FUNDS |
|
|
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|
1] Secured Loans |
32.015 |
229.038 |
251.086 |
|
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2] Unsecured Loans |
16.833 |
265.841 |
224.559 |
|
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TOTAL BORROWING |
48.848 |
494.879 |
475.645 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
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TOTAL |
534.076 |
539.635 |
1067.585 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
496.534 |
552.021 |
598.159 |
|
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Capital work-in-progress |
0.000 |
0.000 |
2.671 |
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INVESTMENT |
1.226 |
0.000 |
2.505 |
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|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
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|
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
16.471
|
9.475 |
33.327 |
|
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Sundry Debtors |
54.893
|
60.451 |
495.331 |
|
|
Cash & Bank Balances |
12.505
|
24.366 |
17.422 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
45.515
|
37.758 |
34.668 |
|
Total
Current Assets |
129.384
|
132.050 |
580.748 |
|
|
Less : CURRENT LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
73.978
|
94.263 |
83.165 |
|
|
Other Current Liabilities |
16.457
|
47.112 |
29.735 |
|
|
Provisions |
2.633
|
3.061 |
3.598 |
|
Total
Current Liabilities |
93.068
|
144.436 |
116.498 |
|
|
Net Current Assets |
36.316
|
(12.386) |
464.250 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
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|
|
|
|
TOTAL |
534.076 |
539.635 |
1067.585 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Sales |
305.819 |
549.584 |
1105.958 |
|
|
|
Service Income |
203.306 |
159.654 |
96.234 |
|
|
|
Lease Rentals |
22.362 |
31.525 |
0.000 |
|
|
|
Excess Provisions Written Back |
5.428 |
2.062 |
0.000 |
|
|
|
Sundry Credit Balances Written Back |
4.104 |
10.560 |
0.000 |
|
|
|
Other Income |
10.271 |
10.620 |
51.888 |
|
|
|
TOTAL (A) |
551.290 |
764.005 |
1254.080 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Goods Sold |
293.632 |
524.895 |
1058.808 |
|
|
|
Personnel Cost |
132.504 |
169.676 |
181.912 |
|
|
|
Other Expenses |
178.372 |
685.961 |
188.192 |
|
|
|
TOTAL (B) |
604.508 |
1380.532 |
1428.912 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
(53.218) |
(616.527) |
(174.834) |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
13.915 |
72.767 |
28.806 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
(67.133) |
(689.294) |
(203.640) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/ AMORTISATION (F) |
57.076 |
58.093 |
56.710 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
(124.209) |
(747.387) |
(260.350) |
|
|
|
|
|
|
|
|
|
Less |
TAX (I) |
0.000 |
1.712 |
2.277 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)AFTER
TAX (G-I) (J) |
(124.209) |
(749.099) |
(262.627) |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
1767.951 |
1014.941 |
752.313 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
1896.517 |
1767.951 |
1014.941 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
(14.73) |
(104.31) |
(36.38) |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total
Income |
(%) |
(22.53)
|
(98.04) |
(20.94) |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
(40.61)
|
(135.99) |
(23.54) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(19.84)
|
(109.25) |
(22.08) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.25)
|
(16.69) |
(43.98) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.29
|
14.28 |
1.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.39
|
0.91 |
4.98 |
LOCAL AGENCY FURTHER INFORMATION
OPERATIONS
During the year,
the company scaled down the trading business and refocused its efforts on the
Supply Chain business which is a service business. Consequently, the service income
increased during the year from Rs. 159.654 millions in the previous year to Rs.
203.306 millions, in the current year, an increase of 27% over the previous
year. The company repaid a majority of the term loans out of funds received
from issue of Shares, which reduced the interest outgo from Rs. 72.767 millions
in the previous year to Rs. 13.915 millions this year.
FORM : 8
|
Corporate identity number of the company |
U51900MH1987PTC044894 |
|
Name of the company |
RADHAKRISHNA FOODLAND PRIVATE LIMITED |
|
Address of the registered office or of the
principal place of business in |
Radhakrishna House, Majiwade Village Road, Majiwade, Thane (West), Maharashtra –
400601, INDIA |
|
This form is for |
Creation of charge |
|
Type of charge |
Immovable property |
|
Particular of charge holder |
Thane Bharat Sahakari Bank Limited, Shatataraka,
Baji Prabhu Deshpande Marg, Naupada,
Thane (West), Thane – 400602, Maharashtra, India |
|
Nature of instrument creating charge |
Equitable Mortgage Deed |
|
Date of instrument Creating the charge |
30.05.2011 |
|
Amount secured by the charge |
Rs. 15.000 millions |
|
Brief of the principal terms an conditions
and extent and operation of the charge |
Rate
of interest @13% p.a. Terms
of repayment 84EMI Margin 50% of Collateral Security Extent
and operation of the charge Corporate guarantee by way of mortgage
given to Radhakrishna Foodland Carriers Private Limited for Cash Credit Facility
of Rs. 15.000 millions availed by them. Other
Nil |
|
Short particulars of the property charged
(Including location of the property) |
All that Plot of land, Ground plus Four
Upper floors, admg. about 120582 Sq. Ft. including structures thereon, Majiwade,
Thane (W) owned by Radhakrishna Foodland Private Limited |
CONTINGENT
LIABILITIES IN RESPECT OF:
|
PARTICULARS |
2009-10 |
2008-09 |
|
|
Rs.
In Millions |
Rs.
In Millions |
|
Income Tax demand disputed in appeal before Income Tax and Wealth Tax |
236.379 |
239.379 |
|
Bank guarantees given to vendors towards payment obligation |
60.000 |
60.000 |
|
Counter guarantees given by the Company to the Bank for guarantees issued by them on behalf of the Company |
7825.600 |
7825.600 |
|
Claims against the Company not acknowledged as debt. |
5886.158 |
4203.000 |
|
Capital Commitments |
|
|
|
Estimated amount of contracts remaining to be executed on capital account and not provided for (net of advances) |
Nil |
Nil |
FIXED ASSETS:-
·
Land
·
Building
·
Plant and Machinery
·
Computers
·
Office Equipments
·
Furniture and Fixtures
·
Vehicles
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. 45.94 |
|
|
1 |
Rs. 75.76 |
|
Euro |
1 |
Rs. 66.01 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
2 |
|
--CREDIT LINES |
1~10 |
1 |
|
--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 |
|
TOTAL |
|
26 |
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.