%20LIMITED%20-132367%2022-Feb-2011_files/image002.jpg){kind=small}
1. Summary Information
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Country |
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Company Name |
COATINGS SPECIALITIES ( |
Principal Name 1 |
Mr. Jalraj Ashwin Dani |
|
Status |
Good |
Principal Name 2 |
Mr. Ina Ashwin Dani |
|
|
|
Registration # |
11-20745 |
|
Street Address |
3A, |
||
|
Established Date |
04.11.1978 |
SIC Code |
-- |
|
Telephone# |
91-22-24938687 |
Business Style 1 |
Investment In Shares And In Securities |
|
Fax # |
91-22-24974886 |
Business Style 2 |
- |
|
Homepage |
- |
Product Name 1 |
- |
|
# of employees |
- |
Product Name 2 |
- |
|
Paid up capital |
Rs.500,000/- |
Product Name 3 |
- |
|
Shareholders |
Bodies corporate (99.40%) Directors or relatives of directors (0.60%) |
Banking |
Kotak Mahindra Bank Limited |
|
Public Limited Corp. |
NO |
Business Period |
33 Years |
|
IPO |
NO |
International Ins. |
- |
|
Public |
NO |
Rating |
A (59) |
|
Related
Company |
|||
|
Relation
- Associates |
Country
- |
Company
Name |
Gujarat Organics Limited |
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2010 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
86,655,000 |
Current Liabilities |
41,373,000 |
|
Inventories |
34,165,000 |
Long-term Liabilities |
22,522,000 |
|
Fixed Assets |
29,631,000 |
Other Liabilities |
166,000 |
|
Deferred Assets |
-- |
Total Liabilities |
64,061,000 |
|
Invest& other Assets |
55,263,000 |
Retained Earnings |
141,153,000 |
|
|
|
Net Worth |
141,653,000 |
|
Total Assets |
205,714,000 |
Total Liab. & Equity |
205,714,000 |
|
Total Assets (Previous Year) |
160,855,000 |
|
|
|
P/L Statement as of |
31.03.2010 |
(Unit: Indian Rs.) |
|
|
Sales |
187,844,000 |
Net Profit |
15,866,000 |
|
Sales(Previous yr) |
132,972,000 |
Net Profit(Prev.yr) |
14,282,000 |
MIRA
INFORM REPORT
|
Report Date : |
22.02.2011 |
IDENTIFICATION DETAILS
|
Name : |
COATING SPECIALITIES ( |
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Registered Office : |
3A, |
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Country : |
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Financials (as on) : |
31.03.2010 |
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Date of Incorporation : |
04.11.1978 |
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Com. Reg. No.: |
11-20745 |
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|
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CIN No.: [Company
Identification No.] |
U65990MH1978PLC020745 |
|
|
|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
MUMR14817F |
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|
|
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PAN No.: [Permanent
Account No.] |
AACCC2732N |
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Legal Form : |
A closely held public limited liability company. |
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|
|
|
Line of Business : |
Investment in Shares and in Securities |
RATING & COMMENTS
|
MIRA’s Rating : |
A (59) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Maximum Credit Limit : |
USD 566612 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having fine track. Financial
Position of the company appears to be sound. Trade relations are reported as
fair. Business is active. Payments are reported to be regular and as per commitment. 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 |
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Low |
A2 |
|
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
|
Registered Office : |
3A, |
|
Tel. No.: |
91-22-24938687 |
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Fax No.: |
91-22-24974886 |
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E-Mail : |
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Corporate Office : |
C-130, Solaris 1, Opposite L and T Gate No. 6, |
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Tel. No.: |
91-22-40016500 / 56936517 |
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Fax No.: |
91-22-66936522 |
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E-Mail : |
DIRECTORS
As on 22.09.2010
|
Name : |
Mr. Jalaj Ashwin Dani |
|
Designation : |
Chairman |
|
Address : |
Home Villa Co-Operative Housing Society, 48, K Sanghi Path, Gamdevi,
Mumbai – 400 007, |
|
Date of Birth/Age : |
20.10.1969 |
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Date of Appointment : |
01.06.1993 |
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Name : |
Mr. Ina Ashwin Dani |
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Designation : |
Director |
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Address : |
Home Villa Co-Operative Housing Society, 48, K Sanghi Path, Gamdevi,
Mumbai – 400 007, |
|
Date of Birth/Age : |
19.03.1942 |
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Date of Appointment : |
31.03.1998 |
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|
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Name : |
Mr. Amrish B Parikh |
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Designation : |
Director |
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Address : |
21 Dhiraj Apartment, |
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Date of Birth/Age : |
18.01.1940 |
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Date of Appointment : |
29.06.1995 |
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Name : |
Mr. Malav Ashwin Dani |
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Designation : |
Whole Time Director |
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Address : |
Home Villa Co-Operative Housing Society, 48, K Sanghi Path, Gamdevi,
Mumbai – 400 007, |
|
Date of Birth/Age : |
26.11.1975 |
|
Date of Appointment : |
05.02.2007 |
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Name : |
Mr. Bhupendra P Dusara |
|
Designation : |
Director |
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Address : |
A-403, Veena Sitar, Opposite Panchsheel Arcade, Mahavir Nagar,
Kandivali (West), Mumbai – 400 067, |
|
Date of Birth/Age : |
06.07.1963 |
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Date of Appointment : |
22.05.2007 |
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Name : |
Mr. Ramesh C Shah |
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Designation : |
Director |
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Address : |
5/17, Dhanvantri Bhuvan, 143/B, August Kranti Marg, Mumbai – 400 036, |
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Date of Birth/Age : |
08.08.1943 |
|
Date of Appointment : |
22.05.2007 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 22.09.2010
|
Names of Shareholders |
|
No. of Shares |
|
Geetanjali Trading and Investments Private Limited, Mumbai |
|
49700 |
|
Ashwin S Dani |
|
50 |
|
Ina A Dani |
|
50 |
|
Jalaj A Dani |
|
50 |
|
Malav A Dani |
|
50 |
|
Bhupendra P Dusara |
|
50 |
|
Jatin R Shah |
|
50 |
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|
|
|
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Total |
|
50000 |
AS ON 30.09.2010
|
Equity share
breakup |
|
|
Category |
Percentage |
|
Bodies corporate |
99.40 |
|
Directors or relatives of director |
0.60 |
|
Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Investment in Shares and in Securities. |
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Products : |
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GENERAL INFORMATION
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Bankers : |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Deepak Shah and Company Chartered Accountant |
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Address : |
401, Maker Bhavan – 3, 21, Marine Lines, Mumbai – 400 020, |
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Tel. No.: |
91-22-66332641 |
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Fax No.: |
91-22-22090595 |
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E-Mail : |
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Associates/Subsidiaries : |
Holding Company Geetanjali Trading and Investments Private Limited |
CAPITAL STRUCTURE
AS ON 30.03.2010
Authorised Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
50000 |
Equity Share |
Rs.10/- Each |
Rs.0.500 Million |
|
450000 |
Preference Shares |
Rs.10/- each |
Rs.4.500 Millions |
|
|
|
|
|
|
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Total |
|
Rs. 5.000
Millions |
Issued, Subscribed & Paid-up Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
50000 |
Equity Share |
Rs.10/- Each |
Rs.0.500 Millions |
Notes – Out of the above 17000 Bonus Shares of Rs.
10/- each fully paid up issued on capitalization of capital redemption reserve.
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 |
0.500 |
0.500 |
0.500 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
141.153 |
126.043 |
112.697 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
141.653 |
126.543 |
113.197 |
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|
LOAN FUNDS |
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1] Secured Loans |
16.212 |
2.314 |
0.811 |
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2] Unsecured Loans |
6.310 |
0.000 |
0.000 |
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TOTAL BORROWING |
22.522 |
2.314 |
2.811 |
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|
DEFERRED TAX LIABILITIES |
0.166 |
0.425 |
0.696 |
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|
|
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TOTAL |
164.341 |
129.282 |
116.704 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
29.631 |
29.018 |
30.622 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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|
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|
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INVESTMENT |
55.263 |
48.567 |
22.479 |
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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 |
|
|
|
|
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Inventories |
34.165
|
23.835 |
18.078 |
|
|
Sundry Debtors |
47.143
|
29.699 |
23.956 |
|
|
Cash & Bank Balances |
1.896
|
0.387 |
32.567 |
|
|
Other Current Assets |
0.000
|
27.084 |
15.618 |
|
|
Loans & Advances |
37.616
|
2.265 |
2.368 |
|
Total
Current Assets |
120.820
|
83.270 |
92.587 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
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Sundry Creditors |
11.938
|
5.436 |
8.604 |
|
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Provisions |
29.435
|
26.137 |
20.380 |
|
Total
Current Liabilities |
41.373
|
31.573 |
28.984 |
|
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Net Current Assets |
79.447
|
51.697 |
63.603 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
164.341 |
129.282 |
116.704 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
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SALES |
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Income |
187.844 |
132.972 |
102.545 |
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Other Income |
15.491 |
13.225 |
11.201 |
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Commission Received |
23.565 |
27.475 |
22.726 |
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TOTAL (A) |
226.900 |
173.672 |
136.472 |
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Less |
EXPENSES |
|
|
|
|
|
|
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Cost of Sales |
153.331 |
113.816 |
82.083 |
|
|
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Employees remuneration and benefits |
26.649 |
23.019 |
17.432 |
|
|
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Administration and selling expenses |
20.411 |
12.611 |
8.945 |
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|
|
Donation |
0.000 |
0.000 |
0.545 |
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|
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Auditor’s Remuneration |
0.000 |
0.000 |
0.071 |
|
|
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TOTAL (B) |
200.391 |
149.446 |
109.076 |
|
|
|
|
|
|
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Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
26.509 |
24.226 |
27.396 |
|
|
|
|
|
|
|
|
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Less |
FINANCIAL
EXPENSES (D) |
1.263 |
1.597 |
0.935 |
|
|
|
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|
|
|
|
|
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PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
25.246 |
22.629 |
26.461 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
1.363 |
1.217 |
0.255 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
23.883 |
21.412 |
26.206 |
|
|
|
|
|
|
|
|
|
Less |
TAX (I) |
8.017 |
7.130 |
9.811 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-I) (J) |
15.866 |
14.282 |
16.395 |
|
|
Add |
Prior year adjustments (Net) |
0.157 |
-- |
(0.135) |
|
|
Add |
Excess /(short) provision for taxes |
(0.023) |
-- |
-- |
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|
|
|
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|
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Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
59.819 |
49.823 |
38.443 |
|
|
|
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|
|
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|
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Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
1.586 |
1.428 |
1.625 |
|
|
|
Transfer to Special Reserve |
3.172 |
2.856 |
3.251 |
|
|
BALANCE CARRIED
TO THE B/S |
71.061 |
59.821 |
49.827 |
|
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|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
317.28 |
285.63 |
325.13 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
6.99
|
8.22 |
12.01 |
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|
|
|
|
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Net Profit Margin (PBT/Sales) |
(%) |
12.71
|
16.10 |
25.55 |
|
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|
|
|
|
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Return on Total Assets (PBT/Total Assets} |
(%) |
15.87
|
19.06 |
21.26 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.16
|
0.16 |
0.23 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.45
|
0.27
|
0.28 |
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|
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|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.92
|
2.64
|
3.19 |
LOCAL AGENCY FURTHER INFORMATION
Form 8
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Corporate
identity number of the company |
U65990MH1978PLC020745 |
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Name of the
company |
COATINGS
SPECIALITIES ( |
||||||
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Address of the
registered office or of the principal place of business in |
3A |
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This form is for |
Modification of
charge |
||||||
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Type of charge |
Immovable
property |
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Particular of
charge holder |
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Nature of
instrument creating charge |
Memorandum of
Deposit of Title Deed. |
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Date of
instrument Creating the charge |
04.06.2010 |
||||||
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Amount secured by
the charge |
Rs. 50.000
Millions |
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Brief of the principal
terms an conditions and extent and operation of the charge |
Rate of Interest Cash Credit &
WCDL - As per the terms of Bank's Sanction Letter dated 29.01.10 and
Memorandum of Deposit of Title Deed dated 04.06.10 Terms of
Repayment WCDL - WCDL tranche
shall be repaid by debit to the Current Account of the Borrower. cash credit - On
demand Margin Cash Credit &
WCDL - 25% on Stock and 25% on Book Debts. Extent and
Operation of the charge First & exclusive
charge created by way of mortgage on Immovable properties of the Company, in
favour of Kotak Mahindra Bank Limited, to secure the repayment of financial
facilities granted by the bank to the Borrower. Others Nil |
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Particulars of
the property charged |
Unit No. 30 on
Ground Floor,C wing in the bldg SOLARIS I, Unit No. 32 on
Ground Floor, in the bldg SOLARIS I, Tungwa Village, Saki Vihar Road, Andheri
& Taluka Kurla more particularly described in fourth Schedule to the
Memorandum of Deposit of Title Deed. Unit No. 311 on
3rd Floor,C wing in the bldg SOLARIS I, Tungwa Vill, Unit No. 312 on
3rd Floor,C wing in the bldg SOLARIS I, All that Unit
No.34, 1st floor, in the bldg SOLARIS
I,Tungwa Village, taluka Kurla, more particularly described in Second
Schedule to the Memorandum of Deposit of Title Deed. All that Unit
No.35, 1st floor, in the bldg SOLARIS
I,Tungwa Village, taluka Kurla, more particularly described in Second
Schedule to the Memorandum of Deposit of Title Deed. All that Unit
No.130, 1st floor, in the bldg SOLARIS I,Tungwa Village, taluka Kurla, more
particularly described in Second Schedule to the Memorandum of Deposit of
Title Deed. All that Unit
No.131, 1st floor, in the bldg SOLARIS I,Tungwa Village, taluka Kurla, more
particularly described in Second Schedule to the Memorandum of Deposit of
Title Deed. All that Unit No.132,1st
floor, in the bldg SOLARIS I,Tungwa Village, taluka Kurla, more particularly
described in Second Schedule to the Memorandum of Deposit of Title Deed. |
||||||
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Date of
instrument modifying the charge |
27.04.2010 |
||||||
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Particulars of
the present modification |
Bank granted
facilities of Rs.7.500 millions to the Company which was secured by
Hypothecation of current & moveable fixed assets of the Company on
15/4/05.On 17/10/05 facilities were additionally secured by way of mortgage of Co's immovable properties.Said
charge was modified on 28/11/05,30/06/06,04/01/08,18/2/08 &
27/4/10.Now by this modification, charge created by way of mortgage is
extended to the total cash credit & WCDL facilities of Rs.50.000
millions. |
Bankers Charges Report
as per Registry
|
This form is for |
Modification of
charge |
|
Charge
Identification (ID) number of the charge to be modified |
90241424 |
|
Name of the
company |
COATINGS SPECIALITIES ( |
|
Address of the registered
office or of the principal place of
business in |
3A, |
|
Corporate
identity number (CIN) or foreign company registration number of the company |
L65990MH1978PLC020745 |
|
Type of charge |
Immovable
property Any interest in
immovable property |
|
Number of charge
holder(s) |
1 |
|
Particular of
charge holder |
Kotak Mahindra Bank Limited 36-38A, Nariman Bhavan, 227, D Nariman Point, Mumbai – 400 021, |
|
Email ID |
|
|
Nature of
instrument creating charge |
Memorandum of
Deposit of Title Deeds |
|
Date of
instrument Creating the charge |
04.01.2008 |
|
Amount secured by
the charge |
Rs.30.000
millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of interest Cash Credit : Linked
to PLR of the Bank floating over the tenure. Working capital
Demand Loan : To be decided at the time of disbursement. Commission for
Letter of Credit : As per Bank’s Card Rate. Terms of
repayment By Debit to the
account of the Company with Kotak Mahindra Bank Limited. Margin Cash Credit /WCDL
: 25% on stock and 25% on Book Debts Letter of Credit : 10% Extent and operation of the charge For Cash Credit /
WCDL: Rs.25.000 millions and Letter of Credit: Rs.5.000 millions, extension
of exclusive first charge by way of mortgage on immovable properties being
land and building belonging to the company at Unit Nos.34, 35, 130, 131, 132,
134 and 135 and creation of exclusive first charge by way of mortgage on
immovable properties being land and building belonging to the company at Unit
Nos. 30, 32, 311 and 312. |
|
Particulars of
the property charged |
Mortgage on
immovable properties being land and building belonging to the company at Unit
Nos. 34, 35, 130, 131,
132, 134, 135, 30, 32, 311 and 312 in the Building known as Solaris – I at
Village Tungwa, Taluka Kurla in the registration Sub-District and District
Bombay City and Bombay Suburban within Greater Bombay and bearing survey Nos.
4647, Hissa No. 1 (part) and 48 (part) and bearing City Survey No. 98 of
Village Tungwa. |
Fixed Assets:
- Office Premise
- Furniture and Fixtures
- Motor Car
- Electrical Installation
- Office Equipment
- Fax Machine
- Xerox Copier
- Computer
- Air Conditioner
- EPABX and Telephone
- Plant and Machinery
- Laboratory Equipment
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.45.11 |
|
|
1 |
Rs.73.25 |
|
Euro |
1 |
Rs.61.70 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
7 |
|
--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 |
|
59 |
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.