MIRA
INFORM REPORT
|
Report Date : |
02.06.2011 |
IDENTIFICATION DETAILS
|
Name : |
UHDE INDIA PRIVATE LIMITED (w.e.f. 01.05.2008) |
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|
|
|
Formerly Known
As : |
UHDE INIDA LIMITED |
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Registered
Office : |
Uhde House, LBS Marg, Vikhroli (West), Mumbai – 400083, Maharashtra |
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Country : |
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Financials (as
on) : |
30.09.2010 |
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Date of
Incorporation : |
23.12.1977 |
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Com. Reg. No.: |
11-20041 |
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Capital
Investment / Paid-up Capital : |
Rs.29.440
millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74200MH1977PTC020041 |
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|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMU00244G |
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PAN No.: [Permanent Account No.] |
AAACU1416H |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Designing and Construction of Chemicals and Fertilizer
Plants. |
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No. of Employees
: |
Not divulged by the management. |
RATING & COMMENTS
|
MIRA’s Rating : |
A (61) |
|
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 4900000 |
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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. Trade relations
are reported as fair. Business is active. Payments are reported to be regular
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.
INFORMATION DECLINED BY
Management Non Co-Operative
LOCATIONS
|
Registered/ Head Office : |
Uhde House, LBS Marg, Vikhroli (West), Mumbai – 400083, Maharashtra |
|
Tel. No.: |
91-22-25968000/ 25968551/ 267968581/ 67968000 |
|
Fax No.: |
91-22-25784327/ 25780210 |
|
E-Mail : |
uhdein@vsnl.com |
|
Website : |
http://www.uhdeindia.com |
|
Area : |
7 Staryed Building |
|
Location : |
Owned |
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|
Branch Office : |
3rd Floor, Duggal Plaza, 692A/3C, Prem Nagar, Bibwewadi Road, Pune – 411037, Maharashtra, India |
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Tel. No.: |
91-20-66081100 |
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Fax No.: |
91-20-66081300 |
DIRECTORS
(AS ON 11.03.2011)
|
Name : |
Dr. Michael Johannes Thieman |
|
Designation : |
Chairman cum Managing Director |
|
Address : |
Flat No. 409/410, Samudra Mahal Premises CHS Limited, Dr. A B Road, Worli , Mumbai – 400 018, Maharashtra, India |
|
Date of Birth/Age : |
25.08.1946 |
|
Date of Appointment : |
01.10.2009 |
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DIN No. : |
00061988 |
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|
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|
Name : |
Mr. Benno Hans Lueke |
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Designation : |
Managing Director |
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Address : |
Karl Halle Strasse 94 Hagen, Hegen, Germany-58097 |
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Date of Birth/Age : |
13.02.1952 |
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Date of Appointment : |
01.10.2009 |
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DIN No. : |
02634507 |
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Name : |
Dr. Iddya Dayasagar |
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Designation : |
Whole Time Director |
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Address : |
B 401, Daffodil, |
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Date of Birth/Age : |
09.05.1949 |
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Date of Appointment : |
01.071998 |
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DIN No. : |
00020614 |
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Name : |
Mr. Suresh Narsappa Talwar |
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Designation : |
Director |
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Address : |
10 Shiv Shanti Bhuvan 146 MK Road, Churchgate Reclamation , Mumbai – 400 020, Maharashtra, India |
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Date of Birth/Age : |
21.11.1937 |
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Date of Appointment : |
05.12.2004 |
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DIN No. : |
00001456 |
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Name : |
Mr. Rajendra Ambalal Shah |
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Designation : |
Director |
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Address : |
Panorama 2nd Floor, |
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Date of Birth/Age : |
07.07.1931 |
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Date of Appointment : |
25.06.2004 |
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DIN No. : |
00009851 |
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Name : |
Mr. Vijayan Thekke Konnanath |
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Designation : |
Whole Time Director |
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Address : |
B 406, |
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Date of Birth/Age : |
10.06.1950 |
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Date of Appointment : |
01.07.1998 |
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DIN No. : |
00020591 |
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Name : |
Mr. Raghavan Sethuraman |
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Designation : |
Whole Time Director |
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Address : |
10/25, Saraswat Colony, Santacruz (West), Mumbai – 400
054, |
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Date of Birth/Age : |
19.03.1950 |
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Date of Appointment : |
01.07.2003 |
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DIN No. : |
00020632 |
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Name : |
Mr. Jayant Ranchhoddas Shah |
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Designation : |
Director |
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Address : |
20 CCI Chambers, |
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Date of Birth/Age : |
16.02.1925 |
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Date of Appointment : |
23.12.1977 |
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DIN No. : |
00020723 |
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Name : |
Mr. Bansidhar S Mehta |
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Designation : |
Alternate Director |
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Address: |
5th Floor, Maheshwari Mansions, 34, Napean Sea Road, Mumbai-400006, Maharashtra, India |
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Date of Birth/ Age: |
19.09.1935 |
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Date of Appointment: |
20.06.2009 |
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DIN No. : |
00035019 |
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Name : |
Mr. Kunjjukuttan Trivikraman Thampi |
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Designation : |
Director |
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Address : |
F20, 501, Green Crest Yamuna Nagar, Andheri (W), Mumbai – 400053,
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|
Date of Birth/Age : |
15.08.1927 |
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Date of Appointment : |
01.01.1978 |
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DIN No. : |
00043445 |
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Name : |
Mr. Prakash Dinkar Sumudra |
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Designation : |
Whole Time Director |
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Address : |
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Date of Birth/Age : |
05.07.1951 |
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Date of Appointment : |
01.07.1998 |
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DIN No. : |
00062355 |
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|
Name : |
Mr. Klaus Bernd Schneiders |
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Designation : |
Director |
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Address : |
Parkstr 15 D – 59425 |
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Date of Birth/Age : |
22.05.1941 |
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Date of Appointment : |
02.03.1998 |
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DIN No. : |
00102611 |
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Name : |
Mr. Dara Nadirshaw Damania |
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Designation : |
Director |
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Address : |
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Date of Birth/Age : |
02.12.1936 |
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Date of Appointment : |
07.06.1996 |
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DIN No. : |
00403834 |
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|
Name : |
Mr. Jorg Schonewolf |
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Designation : |
Director |
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Address : |
Lautenhausen Dorf Strasse 21, Friedewald, Germany-57520 |
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Date of Birth/Age : |
18.01.1962 |
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Date of Appointment : |
01.05.2004 |
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DIN No. : |
00440853 |
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|
Name : |
Mr. Siddharth S Rudra |
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Designation : |
Whole time Director |
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Address: |
Flat 101/102, Emerald Nirmal Lifesestyle, |
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Date of Birth/ Age: |
11.05.1949 |
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Date of Appointment: |
01.10.2006 |
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DIN No. : |
00771904 |
KEY EXECUTIVES
|
Name : |
Mr. Gurpur Radhakrishna Prabhu |
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Designation : |
Company Secretary |
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Address : |
401/6 Ajangiri, Siddachal Apartment, Phase II, 2nd
|
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Date of Birth/Age : |
03.08.1960 |
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Date of Appointment : |
08.03.2002 |
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Pan No. : |
AADPP0040N |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
(AS ON 11.03.2011)
|
Names of Shareholders |
|
No. of Shares |
|
|
|
|
|
UHDE GMBH, Germany |
|
2368000 |
|
Kingfisher F Invest Industries Limited, India |
|
256000 |
|
Anila Shah |
|
62500 |
|
Jayant Shah |
|
76800 |
|
Urmila Jayant Shah |
|
76800 |
|
Ranjit Jayant Shah |
|
76800 |
|
Mona Shah |
|
25600 |
|
Shefali Rajendra Shah |
|
1500 |
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|
|
|
|
Total |
|
2944000 |
(AS ON 31.03.2011)
|
Category |
|
Percentage |
|
|
|
|
|
Foreign holdings( Foreign institutional investor(s),
Foreign Companies (s) Foreign financial institution(s), Non-resident
Indian(s) or Overseas Corporate bodies or Others |
|
80.43 |
|
Bodies corporate |
|
8.69 |
|
Directors or relatives of Directors |
|
10.88 |
|
|
|
|
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Designing and Construction of Chemicals and Fertilizer
Plants. |
|
|
|
|
Products : |
· Nitric Acid · Ammonia · Ammonium Nitrate · Ammonium Nitrophosphate and CAN · Urea · DAP/NPK · Phosphoric Acid · VCM · Styrene Monomer · PVC · Polystyrene · HDPE · Polypropylene · Polyols · Ethylene Oxide · Ethylene Glycol · Ethyl Benzene · Propylene Oxide · VAM · LAB · Adipic Acid · Formaldehyde · Caustic Soda · Chlorine · Caustic Potash · Membrane Cells Electrolysis Plants · Chlorine Director-Oxide · Spray Dried Silica · Bleaching Powder · Hydrogen Peroxide · Poly Aluminium Chloride · Zinc Smelting |
GENERAL INFORMATION
|
Customers : (As on 30.09.2009) |
·
Abu Qir Fertilizer Company, ·
Asean Bintulu Fertilizer Company, ·
Albaryroni (Al-Jubail Fertilisers Company), ·
ACE ·
BASF AG, ·
Bunge ·
·
GAP INSAAT, ·
Qatar Fertilizer Company (QAFCO), ·
Coromandel International, ·
Gujarat Narmada Valley Fertilizer Company, ·
Ruwais Fertiliser Industries (FERTIL), ·
Fortum Oil and Gas |
|
|
|
|
No. of Employees : |
Not divulged by the management. |
|
|
|
|
Bankers : |
·
Deutsche Bank, Nariman Point, Mumbai, ·
Union Bank of ·
State Bank of · Punjab National Bank |
|
|
|
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Banking
Relations : |
-- |
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|
|
|
Auditors : |
|
|
Name : |
Price Waterhouse Chartered Accountants |
|
Address : |
252, Veer Savarkar Marg, Shivahi Park, Dadar, Mumbai – 400028, Maharashtra, India |
|
Pan No. : |
AAEFP5579P |
|
|
|
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Holding Company : |
·
UHDE GMBH, |
|
|
|
|
Ultimate Holding Company: |
· Thyssenkrupp A.G., Germany |
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|
|
|
Fellow Subsidiaries : |
· Thyssenkrupp Industries India Private Limited · Thyssenkrupp Electricals Steel India Private Limited · Polysius, AG · Thyssenkrupp Engineering Pty Limited · Thyssenkrupp USA Inc. · Thyssenkrupp Materials International GmbH · Thyssenkrupp Elevators (India) Company Limited · Thyssenkrupp ECE Elevators Private Limited · Uhde Engineering Consulting (Shanghai) company · Uhde Arabia Limited · Thyssenkrupp Engine Components (India) Private Limited · Uhde Mexico S.A. de C.V. · Shedden Uhde Pty Limited · Thyssenkrupp PDNA Engineering (Pty) |
CAPITAL STRUCTURE
AS ON 30.09.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3000000 |
Equity Shares |
Rs.10/- each |
Rs.30.000 millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2944000 |
Equity Shares |
Rs.10/- each
|
Rs.29.440
millions |
|
|
|
|
|
NOTES:
1. 2944000 fully paid equity Shares of Rs.10/-
each include:
- 110890 Shares allotted for consideration other than cash
- 2806000 shares allotted bonus shares by capitalization of general
reserve.
2. of the above, 2368000 equity shares are
held by Uhde Gmbh
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
30.09.2010 |
30.09.2009 |
30.09.2008 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
29.440 |
29.440 |
29.440 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
1190.842 |
839.462 |
719.743 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
1220.282 |
868.902 |
749.183 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
0.000 |
0.000 |
0.000 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
1220.282 |
868.902 |
749.183 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
792.583 |
285.490 |
320.565 |
|
|
Capital work-in-progress |
9.120 |
478.726 |
173.760 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
83.531 |
127.365 |
110.809 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
7.272
|
11.128
|
292.684
|
|
|
Sundry Debtors |
931.843
|
604.217
|
656.223
|
|
|
Cash & Bank Balances |
2874.346
|
1974.665
|
1641.793
|
|
|
Other Current Assets |
150.993
|
54.053
|
149.729
|
|
|
Loans & Advances |
1886.221
|
1583.029
|
1276.380
|
|
Total
Current Assets |
5850.675
|
4227.092
|
4016.809
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditor |
864.917
|
903.930
|
808.822
|
|
|
Other Current Liabilities |
3462.300
|
2333.727
|
2268.898
|
|
|
Provisions |
1188.410
|
1012.114
|
795.040
|
|
Total
Current Liabilities |
5515.627
|
4249.771
|
3872.760
|
|
|
Net Current Assets |
335.048
|
(22.679)
|
144.049
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
1220.282 |
868.902 |
749.183 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
30.09.2010 |
30.09.2009 |
30.09.2008 |
|
|
|
|
|
|
|
|
|
|
INCOME
(Including Other Income) |
5093.334 |
3261.744 |
3449.416 |
|
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
4300.312 |
2902.092 |
3069.306 |
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
793.022 |
359.652 |
380.110 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
269.994 |
136.603 |
134.090 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
523.028 |
223.049 |
246.020 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
66.020 |
66.300 |
56.390 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
250.000 |
120.000 |
150.000 |
|
|
|
Interim Dividend |
58.880 |
0.000 |
0.000 |
|
|
|
Dividend |
88.320 |
88.320 |
73.600 |
|
|
|
Tax on Dividend |
24.450 |
15.010 |
12.510 |
|
|
BALANCE CARRIED
TO THE B/S |
167.398 |
66.020 |
66.300 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
792.064 |
944.024 |
986.263 |
|
|
TOTAL EARNINGS |
792.064 |
944.024 |
986.263 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
1337.275 |
377.025 |
817.706 |
|
|
|
Capital Goods |
59.827 |
20.131 |
27.671 |
|
|
TOTAL IMPORTS |
1397.102 |
397.156 |
845.377 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
177.66 |
75.76 |
83.57 |
|
KEY RATIOS
|
PARTICULARS |
|
30.09.2010 |
30.09.2009 |
30.09.2008 |
|
PAT / Total Income |
(%) |
10.27
|
6.84
|
7.13
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
11.94
|
7.93
|
8.76
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.65
|
0.41
|
0.51
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
4.52
|
4.89
|
5.17
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.06
|
0.99
|
1.04
|
LOCAL AGENCY FURTHER INFORMATION
SUNDRY CREDITORS
DETAILS:
|
Particulars |
30.09.2010 |
30.09.2009 |
30.09.2008 |
|
|
(Rs. In Millions) |
||
|
|
|
|
|
|
Sundry Creditors
|
|
|
|
|
- Micro and Small Enterprises |
-- |
-- |
-- |
|
- Others |
864.917
|
903.930
|
808.822
|
|
|
|
|
|
|
Total |
864.917
|
903.930
|
808.822
|
PERFORMANCE:
The year witnessed the highest order
intake by the company so far,
amounting to Rs.10708.100 million as compared to Rs.3326.500 million in the previous year. The turnover of the
company stood at Rs.4745.980 million and the Profit After Tax (PAT) was
Rs.523.030 million as against previous year Rs.223.050 million, both have also
been the highest ever achieved by the Company. In the current competitive
environment this performance is indeed remarkable and the credit for this
achievement goes to its employees.
The major contracts received during the year include
Hydrogen Plant in Paradeep for Praxair India on lump sum turnkey basis,
Engineering, Supply and Construction Management for Hydrogen Plant and Sulphur
Recovery Units in Cuddalore for Nagarjuna Oil Corporation Limited and EPCM
Services for NHT and CCR units of Mumbai refinery of BPCL.
Some of the notable contracts which contributed to the turnover during
the year were: Engineering services far LDPE plant in Qatar for Uhde GmbH, EPCM
services for DHDT: VGO and
HCDS units of IOCL Refinery in Paradeep, EPCM services for Ion Resin plant of
LANXESS, Supply of proprietary equipment for Expansion of Caustic Soda
plant of Grasim Industries and 300 TPD WNA plant of GNFC, Bharuch.
PROSPECTS:
The Indian economy which weathered the global melt down
rather well is now poised for accelerated growth in the corning years led by massive investment in the
infrastructure sector. However, the growth in the chemical and petrochemical
sectors in the country was rather slow mainly on account of high input cost of
raw materials within the country and relatively cheap imports of end products from
China and the Middle East. With the project expansion of refining capacity in
India in the coming years they expect considerable investment taking place in
the downstream segment of the petrochemical sector which should augur well for
the company in the medium term.
While the company is cautious
about its forecast for the order intake in the current
business year, backlog of order position should help the company to post a
healthy sales and profit figures
for the coming year.
FIXED ASSETS:
Tangible:
- Freehold Land
- Residential
Flats
- Air
Conditioner
- Furniture
- Office
Equipments
- Computers
- Vehicles
Intangible:
- Computer
Software
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.44.89 |
|
|
1 |
Rs.73.85 |
|
Euro |
1 |
Rs.64.76 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
7 |
|
--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 |
|
61 |
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.