MIRA
INFORM REPORT
|
Report Date : |
07.07.2011 |
IDENTIFICATION DETAILS
|
Name : |
AKIN CHEMICALS PRIVATE LIMITED |
|
|
|
|
Registered Office : |
Jash Chambers, 5th Floor, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.03.2010 |
|
|
|
|
Date of
Incorporation : |
29.07.1997 |
|
|
|
|
Com. Reg. No.: |
11-109677 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.2.000 millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U51496MH1997PTC109677 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMA19270G |
|
|
|
|
PAN No.: [Permanent Account No.] |
AACCA4152E |
|
|
|
|
Legal Form : |
Private limited Liability Company. |
|
|
|
|
Line of Business
: |
Trader of Chemical and Solvents. |
|
|
|
|
No. of Employees
: |
255 Approximately |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (49) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 380000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track. Trade
relations are reported as fair. Business is active. Payments are reported to
be usually correct and as per commitments. The company can be considered normal for business dealings at usual
trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – April 1, 2010
|
Country Name |
Previous Rating (31.12.2009) |
Current Rating (01.04.2010) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INFORMATION PARTED BY
|
Name : |
Mr. Dinesh Pandya |
|
Designation : |
Accountants Department |
LOCATIONS
|
Registered Office : |
Jash Chambers, 5th Floor, |
|
Tel. No.: |
91-22-22660015 / 40985000 / 22612156 |
|
Fax No.: |
91-22-22666962 / 22666973 / 40985005 / 40985050 |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
3500Sq. ft |
|
Location : |
Owned |
|
|
|
|
Branch Office : |
Located at ·
·
Chennai |
DIRECTORS
AS ON 30.09.2009
|
Name : |
Mr. Rajesh Kumar Tapuriah |
|
Designation : |
Director |
|
Address : |
82, Sujata, Little |
|
Date of Birth/Age : |
06.01.1965 |
|
Date of Appointment : |
01.07.1998 |
|
|
|
|
Name : |
Mr. Sevantilal J Parekh |
|
Designation : |
Director |
|
Address : |
72, Bhartiya Bhavan, |
|
Date of Birth/Age : |
21.07.1932 |
|
Date of Appointment : |
23.04.2003 |
|
|
|
|
Name : |
Mr. Madanlal Tapuriah |
|
Designation : |
Director |
|
Address : |
82, Sujata, Little |
|
Date of Birth/Age : |
30.06.1930 |
|
Date of Appointment : |
23.04.2003 |
|
|
|
|
Name : |
Mr. Vishal Somani |
|
Designation : |
Director |
|
Address : |
72, Bhartiya Bhavan, |
|
Date of Birth/Age : |
13.07.1976 |
|
Date of Appointment : |
23.04.2003 |
KEY EXECUTIVES
|
Name : |
Mr. Dinesh Pandya |
|
Designation : |
Accountants Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2009
|
Names of Shareholders |
|
No. of Shares |
|
Sevantilal J. Parekh |
|
12400 |
|
S |
|
12500 |
|
Vinodkumar Somani HUF |
|
9375 |
|
Maheshkumar Somani HUF |
|
200 |
|
Parekh S. Sarla and Parekh J. Sevantilal |
|
37450 |
|
Ankit Somani and Somani Sharad |
|
3750 |
|
Sharad Somani and Somani Poonam |
|
2523 |
|
Somani Dushyant and Somani Mahesh |
|
5000 |
|
Somani Manjushree and Somani Mahesh |
|
375 |
|
Somani Mahesh and Somani Manjushree |
|
3800 |
|
Tapuriah Smita and Tapuriah Rajeshkumar |
|
15450 |
|
Kalyani Manjula and Kalyani S. K. |
|
50 |
|
Tapuriah Indiradevi and Tapuriah Madanlal |
|
2000 |
|
Tapuriah Madanlal and Tapuriah Indiradevi |
|
10000 |
|
Aman B. P. and Samira Amin |
|
50 |
|
Somani Manjushree and Somani Mahesh |
|
5610 |
|
Vishal Somani and Garima Somani |
|
5621 |
|
Sharad Somani and Somani Poonam |
|
1220 |
|
Ankit Somani and Somani Poonam |
|
10000 |
|
Sujata Parekh and Sevantilal Jivanlal Parekh |
|
10085 |
|
Tapuriah Indiradevi |
|
12520 |
|
Rajesh Kumar Tapuriah |
|
12400 |
|
Tapuriah Smita |
|
5000 |
|
Madanlal Tapuriah HUF |
|
60 |
|
Tapuriah Smita and Manjushree Somani |
|
49 |
|
Rajesh Kumar Tapuriah and Somani Manjushree |
|
1 |
|
Mahesh Somani and Dushyant Somani |
|
11 |
|
Vaikunth Trading Company Private Limited, |
|
22500 |
|
|
|
|
|
Total |
|
200000 |
(AS ON 30.09.2009)
|
Category |
|
Percentage |
|
Directors or relatives of directors |
|
100.00 |
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Trader of Chemical and Solvents. |
|
|
|
|
Products : |
·
Alcohols ·
Monomers ·
Olefins ·
Aliphatic Solvents ·
Chlorinated Solvents ·
Plasticizers ·
Ketones ·
Esters ·
Hydrocarbons ·
Glycol Ethers ·
Aromatic ·
Acids ·
Other Chemicals |
|
|
|
|
Imports : |
|
|
Products : |
Chemicals |
|
Countries : |
|
|
|
|
|
Terms : |
|
|
Selling : |
L/C and Credit |
|
|
|
|
Purchasing : |
L/C and Credit |
GENERAL INFORMATION
|
Customers : |
Wholesalers and
End Users |
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
No. of Employees : |
255 Approximately |
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Bankers : |
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
Satisfactory |
|
|
|
|
Financial
Institution : |
3i Infotech Trusteeship Services Limited, 6th Floor, Ackruti Centre Point,
MIDC Central Road, Next to Marol Telephone Exchange, Andheri (E),
Mumbai-400093, Maharashtra, India |
|
|
|
|
Auditors : |
|
|
Name : |
S. G. Kabra and Company Chartered Accountant |
|
Address : |
Wavell House, 1st Floor, 1st |
|
Tel No.: |
91-22-22010708 / 22004533 |
|
Fax No.: |
91-22-22001497 |
|
E mail: |
|
|
Website : |
CAPITAL STRUCTURE
AS ON 30.09.2009
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
200000 |
Equity Share |
Rs.10/- Each |
Rs.2.000 millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
200000 |
Equity Share |
Rs.10/- Each |
Rs.2.000 millions |
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
2.000 |
2.000 |
2.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
92.832 |
66.780 |
55.315 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
94.832 |
68.780 |
57.315 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
2.053 |
2.207 |
3.417 |
|
|
2] Unsecured Loans |
64.892 |
68.691 |
65.657 |
|
|
TOTAL BORROWING |
66.945 |
70.898 |
69.074 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.103 |
|
|
|
|
|
|
|
|
TOTAL |
161.777 |
139.678 |
126.492 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
11.755 |
11.663 |
14.075 |
|
|
Capital work-in-progress |
0.072 |
37.703 |
0.072 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
97.567
|
3.652 |
30.068 |
|
|
Sundry Debtors |
192.588
|
147.191 |
196.408 |
|
|
Cash & Bank Balances |
65.383
|
38.662 |
32.302 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
33.946
|
27.085 |
24.563 |
|
Total
Current Assets |
389.484
|
216.590 |
283.341 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
203.443
|
96.201 |
144.035 |
|
|
Current Liabilities |
5.666
|
5.444 |
4.113 |
|
|
Provisions |
30.613
|
24.733 |
22.850 |
|
Total
Current Liabilities |
239.722
|
126.378 |
170.998 |
|
|
Net Current Assets |
149.762
|
90.212 |
112.343 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.188 |
0.100 |
0.000 |
|
|
Preliminary Expenses |
0.000 |
0.000 |
0.002 |
|
|
|
|
|
|
|
|
TOTAL |
161.777 |
139.678 |
126.492 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
1249.250 |
1228.295 |
1052.103 |
|
|
|
Other Income |
3.844 |
6.880 |
54.788 |
|
|
|
TOTAL (A) |
1253.094 |
1235.175 |
1106.891 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Goods Sold |
1108.393 |
1131.766 |
997.221 |
|
|
|
Employees Remuneration and Benefits |
13.474 |
8.567 |
9.814 |
|
|
|
Administrative and Other Expenses |
73.696 |
57.119 |
53.763 |
|
|
|
TOTAL (B) |
1195.563 |
1197.452 |
1060.798 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
57.531 |
37.723 |
46.093 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
15.262 |
16.749 |
15.352 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
42.269 |
20.974 |
30.741 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
2.042 |
2.419 |
1.991 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
40.227 |
18.555 |
28.750 |
|
|
|
|
|
|
|
|
|
Less |
TAX (I) |
13.473 |
6.389 |
9.829 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-I) (J) |
26.754 |
12.166 |
18.921 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
62.175 |
51.911 |
35.581 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Proposed Dividend |
0.600 |
0.600 |
0.600 |
|
|
|
Dividend Distribution Tax |
0.102 |
0.102 |
0.102 |
|
|
|
Transfer to General Reserve |
2.700 |
1.200 |
1.890 |
|
|
BALANCE CARRIED
TO THE B/S |
85.527 |
62.175 |
51.911 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
0.000 |
110.409 |
5.774 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
0.000 |
0.000 |
638.400 |
|
|
|
Stores & Spares |
0.000 |
0.000 |
0.464 |
|
|
TOTAL IMPORTS |
0.000 |
0.000 |
638.864 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
133.77 |
60.83 |
-- |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
2.14 |
0.98 |
1.71 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
3.22 |
1.51 |
2.73 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
10.03 |
8.13 |
9.67 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.42 |
0.27 |
0.50 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
3.23 |
2.87 |
4.19 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.62 |
1.71 |
1.66 |
LOCAL AGENCY FURTHER INFORMATION
Bankers Charges Report as per Registry
|
Name of the company |
AKIN CHEMICALS PRIVATE LIMITED |
|
Presented By |
The Saraswat Co-Operative Bank Limited, |
|
1) Date and description of instrument creating the change |
Agreement of hypothecation of Movable Property for L/C on D/A basis dated 14.05.2003 |
|
2) Amount secured by the charge/amount owing on the securities of charge |
Rs. 30.000 Millions |
|
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 |
Hypothecation to and in favour of the bank all the tangible movable property including the stocks for the time being whether new or manufactured or in process of manufacturing and every tangible moveable goods/ property/ machinery/ plant (both present and future) as and when imported or procured by the borrower’s place or business or wherever else the same may be kept. Hypothecation of all the book debts, outstanding, monies receivable, claims and bill |
|
4) Gist of the terms and conditions and extent and operation of the charge. |
This is one time L/C limit |
|
5) Name and Address and description of the person entitled to the charge. |
The Saraswat Co-operative Bank Limited, |
|
6) Date and brief description of instrument modifying the charge |
Deed of Hypothecation for Enhancement of D/A L/C limit (Supplementary deed) dated 20.04.2005 |
|
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. |
The original charge is dated 14.05.2003 for Rs. 30.000 Millions (registered on 09.06.2003 as document no. 60) modified (Registered on 24 September 2003 as document no. 30) on 31.03.2004 making total limit to Rs. 34.100 Millions (Registered on 10.05.2004 as document no. 36) on 12.05.2004 making total limit to Rs. 42.300 Millions (registered on 15.06.2004 as document no. 37)l, on 14.06.2004 making total limit to Rs. 47.300 Millions (registered on 14.06.2004 as document no. 39) and on 21.06.2004 making total limit to Rs. 61.900 Millions (registered on 14.06.2004 as document no 38) and on 2 September 2004 making total limit to Rs. 75.000 Millions (registered on 29.09.2004 as document no. 40) Now by present modification dated 20.04.2005 the limit has been enhanced by Rs. 15.000 Millions making total limit to Rs. 90.000 Millions. This limit is the permanent limit granted by the bank |
|
Corporate
identity number of the company |
U51496MH1997PTC109677 |
|
Name of the
company |
AKIN CHEMICALS
PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
Jash Chambers, 5th Floor, |
|
This form is for |
Creation of
charge |
|
Type of charge |
Book Debts Others - Current Assets
present and future |
|
Particular of
charge holder |
3i Infotech Trusteeship Services Limited, 6th Floor, Ackruti Centre
Point, MIDC Central Road, Next to Marol Telephone Exchange, Andheri (E),
Mumbai-400093, Maharashtra, India Email ID: prashant.joshi@3i-itsl.com
|
|
Nature of
instrument creating charge |
Deed of
Hypothecation dated 6th April 2010 executed by the company in favour of 3i
Infotech Trusteeship Services Limited for the working capital facilities
sanctioned by ICICI Bank Limited |
|
Date of instrument
Creating the charge |
06.04.2010 |
|
Amount secured by
the charge |
Rs.80.000
millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest For CC the same will
be stipulated at the time of disbursement of each drawal. For LC charges to
be all inclusive cost of 1.20 % p.a Terms of
Repayment Payable on demand Margin CC: Inventory -
Uniform margin of 25% against all components of inventory Book Debts - Cover
period - 90 days; Margin 25%. LC: Cash margin
-15% Extent and
Operation of the charge First Pari Passu
charge on the company's entire stock of raw materials, semi finished and
finished goods, consumable stores and spares and such other moveable current
assets including book-debts, bills whether documentary or clean, outstanding
monies and receivables both present and future |
|
Short particular
of the property or asset(s) charged |
i)
First
Pari Passu charge on the company's entire stock of raw materials,
semi-finished and finished goods, consumable stores and spares and such other
moveable current assets ii)
including
book debts bills whether documentary or clean, outstanding monies and
receivables both present and future situated at Gala No -6, Jai Jalaram
Vitthal and Mangladevi compound, iii)
opposite
J.K Petrol Pump, , Bhiwandi |
FIXED ASSETS
·
Office Premises
·
Computer
·
Motorcar
·
Furniture and Fixture
·
Fax Machine
·
Xerox Machine
·
Mobile Instruments
WEB DETAILS
Profile
Subject since its incorporation has grown dramatically in
tandem with the regions dynamic growth, strengthening its reputation as a fast
growing distributor of Petrochemicals and Solvents in
Subject also distribute for domestic manufacturer like Godavari Biorefineries Limited as a apart of their philosophy as a chemical distributor in the region.
Shyam Chemicals, a group company is a leading producer of Cuprous Oxychloride and salts.
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No records exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or anti-terrorism
sanction laws or whose assets were seized, blocked, frozen or ordered forfeited
for violation of money laundering or international anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject : None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No available
information exist that suggest that subject or any of its principals have been
formally charged or convicted by a competent governmental authority for any
financial crime or under any formal investigation by a competent government
authority for any violation of anti-corruption laws or international anti-money
laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on Corporate
Governance to identify management and governance. These factors often have been
predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.44.38 |
|
|
1 |
Rs.71.24 |
|
Euro |
1 |
Rs.64.16 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
49 |
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.