MIRA
INFORM REPORT
|
Report Date : |
23.07.2011 |
IDENTIFICATION DETAILS
|
Name : |
MAHENDRA BROTHERS EXPORTS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
611, Panchatratna, Mama Parmanad Marg, Opera House, Mumbai – 400 004, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2010 |
|
|
|
|
Date of
Incorporation : |
05.04.2007 |
|
|
|
|
Com. Reg. No.: |
11-169724 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.1183.551
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U52393MH2007PTC169724 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMM31691C |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer and Exporter of Cut and Polished Diamonds. |
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|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (29) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 9000000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
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|
|
|
Litigation : |
Clear |
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|
Comments : |
Subject is an established company having moderate track. There appears
huge losses being incurred by the company in the year 2008-09. However, trade
relations are reported as fair. Business is active. Payments are reported to
be slow but correct. The company can be considered for business dealings with some
cautions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – April 1, 2010
|
Country Name |
Previous Rating (31.12.2009) |
Current Rating (01.04.2010) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
LOCATIONS
|
Registered Office : |
611, Panchatratna, Mama Parmanad Marg, Opera House, Mumbai – 400 004, |
|
Tel. No.: |
91-22-23634565 / 23634566 |
|
Fax No.: |
91-22-23632061 |
|
E-Mail : |
|
|
Website : |
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|
Area : |
1500 sq. ft |
|
Location : |
Owned |
|
|
|
|
Corporate Office 1: |
Band Box House, 3rd Floor, 254-D, |
|
Tel. No.: |
91-22-56615600 |
|
Fax No.: |
91-22-56615661 |
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E-Mail : |
|
|
|
|
|
Factory : |
Located at Navsari, |
|
Location : |
Owned |
|
|
|
|
Corporate Office
2: |
Tower C, Central Wing, CE 7011-15, (8th fl) G Block, Bharat
Diamond Bourse, BKC, Bandra (E), Mumbai 400051, |
|
Tel No.: |
91-22-66156000 |
|
Fax No.: |
91-22-66615633 |
DIRECTORS
As on 29.09.2010
|
Name : |
Mr. Ketan Bagmal Parikh |
|
Designation : |
Whole Time Director |
|
Address : |
94-D, Petit Hall Apartments, 66, |
|
Date of Birth/Age : |
30.04.1952 |
|
Date of Appointment : |
05.04.2007 |
|
Date of Ceasing: |
31.08.2009 |
|
|
|
|
Name : |
Ms. |
|
Designation : |
Whole Time Director |
|
Address : |
15-A, Next to Khatau Condominium, J. Mehta Marg, Mumbai-400006, |
|
Date of Birth/Age : |
06.07.1963 |
|
Date of Appointment : |
05.04.2007 |
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|
|
|
Name : |
Mr. Saunak Jitendra Parikh |
|
Designation : |
Whole Time Director |
|
Address : |
161-D, |
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Date of Birth/Age : |
22.08.1971 |
|
Date of Appointment : |
05.04.2007 |
|
|
|
|
Name : |
Mr. Jay Ketan Parikh |
|
Designation : |
Whole Time Director |
|
Address : |
94-D, |
|
Date of Birth/Age : |
18.01.1980 |
|
Date of Appointment : |
05.04.2007 |
|
Date of Ceasing: |
31.08.2009 |
|
|
|
|
Name : |
Mr. Hiten Bagmal Parikh |
|
Designation : |
Whole Time Director |
|
Address : |
41, Laxmi Vilas, |
|
Date of Birth/Age : |
03.09.1956 |
|
Date of Appointment : |
05.04.2007 |
|
|
|
|
Name : |
Mr. Jitendra Chimanlal Parikh |
|
Designation : |
Whole Time Director |
|
Address : |
171 Meneka, 16th Floor, |
|
Date of Birth/Age : |
02.03.1940 |
|
Date of Appointment : |
05.04.2007 |
|
|
|
|
Name : |
Mr. Raj Hiten Parikh |
|
Designation : |
Whole Time Director |
|
Address : |
41-Laxmi Vilas, |
|
Date of Birth/Age : |
21.12.1981 |
|
Date of Appointment : |
05.04.2007 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 29.09.2010
|
Names of Shareholders |
No. of
Preferences Shares |
No. of Equity
Shares |
|
Jitendra Chimanlal Parikh |
-- |
14040000 |
|
Hiten Bagmal Parikh |
-- |
10514725 |
|
|
-- |
10320585 |
|
Saunak Jitendra Parikh |
-- |
7116440 |
|
Jitendra Chimanlal Parikh, Trustee of J.C. Family |
-- |
2020000 |
|
Hiten Bagmal Parikh, Trustee of Hiten Paikh Family |
-- |
2020000 |
|
Raj Hiten Parikh |
-- |
2651250 |
|
Jitendra Chimanlal Parikh, Trustee of Saunak Family |
-- |
3383500 |
|
Ketan Bagmal Parikh, Trustee of |
-- |
2247250 |
|
Hiten Bagmal Parikh, Trustee of Raj Family |
-- |
1767500 |
|
Hiten Bagmal Parikh, Trustee of Rishi Family |
|
1767500 |
|
Rishi Hiten Parikh |
-- |
2651250 |
|
Ignazia Pte Limited, |
-- |
2857071 |
|
Accredut Finance and Investments Private Limited, |
1662530 |
-- |
|
Saunak J. Parikh – holding as Trustee of Suna Trust, India |
13333970 |
-- |
|
Abhay V Mehta HUF |
100 |
-- |
|
Abhay V Mehta |
100 |
-- |
|
Amrish A Dalal |
100 |
-- |
|
Apurva A. Kothari |
100 |
-- |
|
Bipinchandra G. Shah |
100 |
-- |
|
Charvi A Mehta |
100 |
-- |
|
Dineshchandra C. Mehta |
100 |
-- |
|
Indiraben R. Mehta |
100 |
-- |
|
Indu Suresh Mehta |
100 |
-- |
|
Jayantilal S. Shah |
100 |
-- |
|
Manibhai P. Mehta HUF |
100 |
-- |
|
Navinchandra A. Shah |
100 |
-- |
|
Nipaben Sureshbhai Mehta |
100 |
-- |
|
Parag N. Shah |
100 |
-- |
|
Purvi A. Mehta |
100 |
-- |
|
Ramniklal Bhogilal and Company, |
100 |
-- |
|
Samrat D. Mehta |
100 |
-- |
|
Smita H. Mehta |
100 |
-- |
|
Subhadra J. Chodhary |
100 |
-- |
|
Vasundhara A Parikh |
100 |
-- |
|
Vinod M. Mehta HUF |
100 |
-- |
|
Mahendra K. Mehta HUF |
100 |
-- |
|
Vasanti M. Mehta |
100 |
-- |
|
Alka Bharat Mehta |
25 |
-- |
|
Hiral Patel |
25 |
-- |
|
Neha Suraj Shah |
25 |
-- |
|
Neeta A. Mehta |
25 |
-- |
|
Vikram M. Mehta |
25 |
-- |
|
Niyati Mehta |
25 |
-- |
|
Pravina S. Mehta |
25 |
-- |
|
Shruti M. Mehta |
25 |
-- |
|
Jitendra C Parikh – Trustee holding on behalf Smaran Trust |
100 |
-- |
|
Ajay Chaudhari |
100 |
-- |
|
Bagmal K. Mehta HUF |
100 |
-- |
|
Ignazia Pte Limited, |
39998800 |
-- |
|
|
|
|
|
|
|
|
|
Total |
54998100 |
63357071 |
As on 29.09.2010
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
4.50 |
|
Bodies
corporate |
|
74.66 |
|
Directors
or relatives of directors |
|
20.84 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Cut and Polished Diamonds. |
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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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|
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Banking
Relations : |
-- |
|
|
|
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Auditors : |
|
|
Name : |
Sampat Mehta and Associates Chartered Accountant |
|
Address : |
3, |
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Tel. No.: |
91-22-61411200 |
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Fax No.: |
91-22-61411212 |
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E-Mail : |
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Website: |
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Associates/Subsidiaries : |
|
CAPITAL STRUCTURE
As on 29.09.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
70000000 |
Equity Shares |
Rs.10/- each |
Rs.700.000 Millions |
|
80000000 |
Preferences Shares |
Rs.10/- each |
Rs.800.000 Millions |
|
|
Total |
|
Rs.1500.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
63357071 |
Equity Shares |
Rs.10/- each |
Rs.633.570
Millions |
|
54998100 |
Preferences Shares |
Rs.10/- each |
Rs.549.981
Millions |
|
|
Total |
|
Rs.1183.551 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 |
1183.551 |
1183.551 |
1090.654 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
1088.746 |
843.306 |
742.717 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
2272.297 |
2026.857 |
1833.371 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
3593.637 |
5582.717 |
4259.442 |
|
|
2] Unsecured Loans |
2720.290 |
2247.008 |
2145.038 |
|
|
TOTAL BORROWING |
6313.927 |
7829.725 |
6404.480 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
45.129 |
|
|
|
|
|
|
|
|
TOTAL |
8586.224 |
9856.582 |
8282.980 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
2209.733 |
2281.739 |
1230.537 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
252.196 |
91.488 |
482.695 |
|
|
DEFERREX TAX ASSETS |
482.868 |
540.254 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
3236.455
|
3569.753 |
2604.383 |
|
|
Sundry Debtors |
3232.052
|
3731.671 |
3563.212 |
|
|
Cash & Bank Balances |
394.573
|
395.524 |
672.738 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
528.220
|
469.844 |
288.686 |
|
Total
Current Assets |
7391.300
|
8166.792 |
7129.019 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
1729.019
|
1203.883 |
541.997 |
|
|
Other Current Liabilities |
20.837
|
19.791 |
15.513 |
|
|
Provisions |
0.017
|
0.017 |
1.761 |
|
Total
Current Liabilities |
1749.873
|
1223.691 |
559.271 |
|
|
Net Current Assets |
5641.427
|
6943.101 |
6569.748 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
8586.224 |
9856.582 |
8282.980 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
|
|
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL |
10440.772 |
14103.333 |
9724.713 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
10073.281 |
15785.223 |
9268.921 |
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
10073.281 |
15785.223 |
9268.921 |
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
367.491 |
(1681.890) |
455.792 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
100.141 |
(570.353) |
203.863 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
267.350 |
(1111.537) |
251.929 |
|
|
|
|
|
|
|
|
|
Add |
PRIOR
PERIOD INCOME / EXPENSES |
1.861 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Dividend on Preferences Shares |
0.000 |
0.000 |
1.506 |
|
|
|
Dividend Distribution Tax |
0.000 |
0.000 |
0.255 |
|
|
BALANCE CARRIED
TO THE B/S |
269.211 |
(1111.537) |
250.168 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
10411.622 |
12407.273 |
NA |
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
5742.517 |
6777.572 |
|
|
|
|
Finished Goods |
2439.402 |
4630.107 |
NA |
|
|
|
Consumable, Stores and Tools |
3.311 |
1.575 |
|
|
|
|
Capital Goods |
11.529 |
3.168 |
|
|
|
TOTAL IMPORTS |
8196.759 |
11412.422 |
NA |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
4.25 |
(17.67) |
NA |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
2.56
|
(7.88) |
2.59 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
3.83
|
(16.10) |
5.45 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.16
|
(0.83) |
0.25 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
3.55
|
4.47 |
3.80 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
4.22
|
6.67 |
12.75 |
LOCAL AGENCY FURTHER INFORMATION
AMALGAMATION OF
COMPANY:
The Company has made an application with the Judicature of
High Court of Bombay for amalgamation of itself with its 100 % subsidiary companies
Mahendra Brothers Diamonds Private Limited, Rijay Diamonds Exports Private
Limited, Rijay Properties and Developers Private Limited, Saumil Properties and
Developers Private Limited, Aashi Jewels Private Limited, and Visualise
Financials Private limited. As on the date of report the application for
amalgamation is pending before the High Court for its consideration.
Bankers Charges
Report as per Registry
|
This form is for |
Modification of
charge |
|
Charge identification
number of the modified |
10062592 |
|
Corporate
identity number of the company |
U52393MH2007PTC169724 |
|
Name of the
company |
MAHENDRA BROTHERS
EXPORTS PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
611, Panchatratna, Mama Parmanad Marg, Opera House, Mumbai – 400 004, |
|
Type of charge |
Book Debts Movable Property
(not being pledge) Floating Charge Immovable
Property |
|
Particular of charge
holder |
The Royal Bank of Scotland N.V (Acting as lead bank), 74, Sakhar
Bhavan, 7th Floor, Nariman Point, Mumbai-400021, |
|
Email |
|
|
Nature of
description of the instrument creating or modifying the charge |
Fifth
Supplemental Joint Deed of Hypothecation and Registered Mortgage |
|
Date of
instrument Creating the charge |
01.10.2010 |
|
Amount secured by
the charge |
Rs.6000.000
Millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest Credit
Facilities. Interest /
Commission - As agreed by and with the Bank from time to time. Terms of
Repayment As agreed by and with
the Bank from time to time. Margin As applicable, if
any. Extent and
Operation of the charge The banks are
having pari passu charge on the security given by the Borrower. |
|
Short particulars
of the property charged |
I)
A) Hypothecation
by way of pari passu first charge on all the current assets of the Borrower
namely stock of raw materials, stock in process, semi finished and finished
goods, stores and spares II)
Not
relating to plant and machinery (consumable stores and spares), bills
receivables, book debts and all other movable, both present and future. III)
B)
Pari passu charge on mortgage of immovable properties viz. a) Office premises
no. 606, 607, 611, 612, 612A, 617 on the 6th Floor of Bldg. Pancharatan, New
Charni Road, Opera House, Mumbai AND IV)
Office
no. 4A, 37B, 38B, on the first floor
of Gita Building, A wing situated at Pandita Ramabai Road, Gamdevi, Mumbai
400 007 AND office no. 801, 802, 803, 804, 810 and 811 on 8 floor V)
t/with
2 blocks of car parking at bldg TRADE CENTRE situate in revenue village of
Kole Kalyan, Taluka Andheri in the regn sub dist Bandra (Owned by Mahendra
Brothers Exports P Ltd.) VI)
b)
All piece and parcel of non agricultural land bearing survey no. 15(P) and
survey no. 16(P) admeasuring 26,691 sq. mtrs. with structures thereon
situated at Mouje Jamalpor, Taluka Navsari (owned by Mahendra Brothers
Diamonds Private Limited) |
|
Date of latest
modification prior to the present modification |
02.06.2008 |
|
Particulars of
the present modification |
By present
modification, the existing charge of Rs.7000.000 Millions stands reduced to
Rs.6000.000 Millions against the security (pari passu charge) as per
Hypothecation Agreement and Registered Mortgage both dated 01.10.2010. Bank
of India and ICICI Bank Limited opted out from the consortium and Standard
Chartered Bank inducted as a new consortium member Bank. The revised sharing
pattern of Rs.6000.000 Millions of various Banks is enclosed herewith. |
Fixed Assets:
- Building
- Plant and Machinery
- Equipment
- Furniture and Fixtures
- Computer
- 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.44.38 |
|
|
1 |
Rs.72.34 |
|
Euro |
1 |
Rs.63.87 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
2 |
|
--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 |
|
29 |
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.