MIRA
INFORM REPORT
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Report Date : |
25.05.2011 |
IDENTIFICATION DETAILS
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Name : |
LIPI DATA SYSTEMS LIMITED |
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Registered Office : |
1, Mittal Chambers, Nariman Point, Mumbai-400022, |
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Country : |
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Financials (as on) : |
31.03.2010 |
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Date of Incorporation : |
13.05.1992 |
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Com. Reg. No.: |
11-66759 |
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Capital Investment / Paid-up Capital : |
Rs. 49.000
Millions |
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CIN No.: [Company
Identification No.] |
U36007MH1992PLC066759 |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business : |
Manufacturer of
Electromechanical and Electronics Products, Line Printers and Sub Assemblies. |
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No. of Employees : |
800 (Approximately) |
RATING & COMMENTS
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MIRA’s Rating : |
Ba (50) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 2760980 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a well established and a reputed company having satisfactory
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 PARTED BY
|
Name : |
Mr. P. Sarkar |
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Designation : |
Sr. Manager Finance |
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Contact No.: |
91-22-22882960 |
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Date : |
24.05.2011 |
LOCATIONS
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Registered Office : |
1, Mittal Chambers, Nariman Point, Mumbai – 400022, |
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Tel. No.: |
91-22-22882960 |
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Fax No.: |
91-22- 22873314 |
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E-Mail : |
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Website : |
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Location : |
Owned |
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Area : |
5000 sq.ft. |
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Factory : |
Mewar Industrial Area, Madri, Udaipur-313001, Rajasthan |
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Tel. No.: |
91-294-2492400 |
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Fax No.: |
91-294-2492409 |
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Depot : |
Unit No. 53-56, Building No. 1, Electronic Sadan, T. T. C. Industrial Area, MIDC, Mahape, Thane, Navi Mumbai, Maharashtra, India |
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Tel. No.: |
91-22-27680030 |
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Fax No.: |
91-22-27670054 |
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Sales and Service Network : |
Aurangabad Phone : 91-240 – 2452479 / 5621361 Tele Fax : 91-240 - 2442344 / 2441861 / 2441961 Mumbai Fax : 91-22-2287 3314 Vashi Phone : 67683030 /2768 3117 / 2768 3109 / 2768 3059 / 2768
9006 / 27684024 / 2768 3033 / 2762 1476 /5613 1209 / 56161210 / 2768 3021
Phone No. : 91-231-2629 319
Pune Phone : 91-20-020- 25655107, 39513965 Tele Fax : 91-20-25679017 Solapur |
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Branches : |
Located at: ·
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Chennai ·
Kolkata ·
Ahmedabad ·
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Chandni ·
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Hadapsar ·
Thane ·
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Jaipur ·
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Mangalore ·
Trichy ·
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DIRECTORS
As on 12.07.2010
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Name : |
Mr. Piyush Singhal |
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Designation : |
Chairman and Managing Director |
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Address : |
109/110, Samudra Mahal, |
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Date of Birth/ Age: |
05.08.1934 |
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Date of Appointment : |
13.05.1992 |
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Name : |
Mr. Mukul Singhal |
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Designation : |
Chairman and Managing Director |
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Address : |
205, Samudra Mahal, |
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Date of Birth/ Age: |
09.03.1964 |
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Date of Appointment : |
13.05.1992 |
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Name : |
Mr. Sameer Singhal |
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Designation : |
Joint Managing Director |
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Address : |
109/110, Samudra Mahal, |
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Date of Birth/ Age: |
22.12.1972 |
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Date of Appointment : |
01.07.2003 |
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Name : |
Mr. Vivek Singhal |
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Designation : |
Director |
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Address : |
24, Palam Marg, Vasant Vihar, New Delhi-110057, |
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Date of Birth/ Age: |
26.06.1940 |
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Date of Appointment : |
13.05.1992 |
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Name : |
Mrs. Sunita P. Singhal |
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Designation : |
Director |
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Address : |
109/110, Samudra Mahal, |
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Date of Birth/ Age: |
09.09.1939 |
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Date of Appointment : |
10.03.1994 |
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Name : |
Ms. Manjula Singhal |
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Designation : |
Director |
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Address : |
24, Palam Marg, Vasant Vihar, |
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Date of Birth/ Age: |
09.11.1944 |
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Date of Appointment : |
06.08.1992 |
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Name : |
Mr. Nimish Gulabrai Pandya |
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Designation : |
Director |
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Address : |
504-A, Neelkanth, 5th Floor, 98, |
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Date of Birth/ Age: |
14.09.1953 |
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Date of Appointment : |
16.12.2002 |
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Name : |
Mr. Hemendra N. Shah |
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Designation : |
Director |
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Address : |
34, Meera, 18-L D Ruparel Marg, Malabar Hill, Mumbai-400006,
Maharashtra, India |
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Date of Birth/ Age: |
04.10.1943 |
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Date of Appointment : |
15.03.2004 |
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Name : |
Mrs. Preeti M. Singhal |
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Designation : |
Director |
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Address : |
205, Samudra Mahal, |
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Date of Birth/ Age: |
13.11.1967 |
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Date of Appointment : |
06.09.2004 |
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Name : |
Mr. Pradyumna Natvarlal Shah |
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Designation : |
Director |
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Address : |
Shanti Niketan, 5th Floor, Block No. 51-52, Plot No. 96, |
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Date of Birth/ Age: |
01.01.1929 |
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Date of Appointment : |
15.05.1998 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 12.07.2010
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Names of Shareholders |
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No. of Shares |
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Singhal Sunita Jointly with Chemicals
International (Mumbai) Private Limited, |
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10 |
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Singhal Mukul Jointly with Chemicals International
(Mumbai) Private Limited, |
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10 |
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Samuk Holding Private Limited, |
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400000 |
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Mukul Singhal |
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540000 |
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Sameer Singhal |
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800000 |
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Mukul Singhal Jointly With Preeti Singhal |
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460000 |
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Sameer Singhal Jointly with Shilpa Singhal |
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200000 |
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Chemicals Internationals ( Mumbai) Private Limited, |
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2500060 |
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Total |
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4900080 |
(AS ON 30.09.2010)
Equity Share Break up (Percentage of Total Equity)
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Category |
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Percentage |
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Bodies corporate |
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59.18 |
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Directors or relatives of directors |
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40.82 |
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Total
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|
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of
Electromechanical and Electronics Products, Line Printers |
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Products : |
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Agencies Held : |
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Exports : |
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Products : |
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Countries : |
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Imports : |
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Products : |
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Countries : |
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Terms : |
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Selling : |
L/C, Cash, Credit (30-60-90 days) |
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Purchasing : |
L/C, Cash, Credit (30-60-90 days) |
PRODUCTION STATUS (As on 31.03.2010)
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Particulars |
Unit |
Licensed
Capacity |
Installed
Capacity |
Actual
Production |
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Hardware |
Nos. |
30200 |
30200 |
8399 |
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Sub Assembly |
Nos. |
NA |
100000 |
-- |
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Cartridges |
Nos. |
NA |
100000 |
5726 |
GENERAL INFORMATION
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Customers : |
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No. of Employees : |
800 (Approximately) |
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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 : |
M. Bhandari and Company Chartered Accountant |
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Address : |
Beawar-305901, |
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Sister Concerns : |
Line of Business - Manufacturer of agricultural and farm products.
Line of Business – developing device drivers, E-commerce Solutions
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Holding Company : |
Chemicals International Mumbai Private Limited CIN: U51909DL2002PTC114885 |
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Associates/Subsidiaries : |
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CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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1,00,00,000 |
Equity Shares |
Rs.10/- each |
Rs.100.000 Millions |
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Issued, Subscribed Capital :
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No. of Shares |
Type |
Value |
Amount |
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63,50,080 |
Equity Shares |
Rs.10/- each |
Rs. 63.500 Millions |
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Paid-up Capital:
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No. of Shares |
Type |
Value |
Amount |
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49,00,080 |
Equity Shares |
Rs.10/- each |
Rs. 49.000
Millions |
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Note
- out of the above 22,50,000 equity shares of Rs. 10/- each aggregating
to Rs. 2,25,00,000/- have been issued for consideration other than cash
- out of above 25,000,80 equity shares of Rs. 10/- each are held by
Chemical International Mumbai Private Limited- a holding company
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
49.000 |
49.000 |
54.000 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
641.245 |
558.867 |
508.658 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
690.245 |
607.867 |
562.658 |
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LOAN FUNDS |
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1] Secured Loans |
247.550 |
216.570 |
220.519 |
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2] Unsecured Loans |
0.118 |
0.080 |
1.233 |
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TOTAL BORROWING |
247.668 |
216.650 |
221.752 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
937.913 |
824.517 |
784.410 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
331.845 |
271.184 |
263.130 |
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Capital work-in-progress |
11.601 |
98.245 |
67.390 |
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INVESTMENT |
5.406 |
12.110 |
11.993 |
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DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
240.458
|
203.606 |
247.659 |
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Sundry Debtors |
460.253
|
397.270 |
364.943 |
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Cash & Bank Balances |
74.889
|
71.849 |
53.688 |
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Other Current Assets |
0.000
|
0.000 |
0.000 |
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Loans & Advances |
75.245
|
55.070 |
51.732 |
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Total
Current Assets |
850.845
|
727.795 |
718.022 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditors |
217.233
|
246.235 |
225.908 |
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Other Current Liabilities |
10.076
|
6.195 |
17.038 |
|
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Provisions |
34.475
|
32.387 |
33.179 |
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Total
Current Liabilities |
261.784
|
284.817 |
276.125 |
|
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Net Current Assets |
589.061
|
442.978 |
441.897 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
937.913 |
824.517 |
784.410 |
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PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
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SALES |
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Income |
1651.595 |
1834.282 |
1633.120 |
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Other Income |
36.255 |
12.432 |
15.869 |
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TOTAL (A) |
1687.850 |
1846.714 |
1648.989 |
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Less |
EXPENSES |
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Increase/(Decrease) in stock |
(8.743) |
10.096 |
(0.585) |
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Raw Material Consumed |
523.259 |
520.817 |
467.875 |
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Purchases |
631.296 |
751.189 |
601.639 |
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Employees Remuneration and Benefits |
161.573 |
170.010 |
148.916 |
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Manufacturing & Processing Exp. |
26.388 |
50.689 |
9.602 |
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Other Expenses |
171.115 |
191.661 |
201.599 |
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TOTAL (B) |
1504.888 |
1694.462 |
1429.046 |
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Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
182.962 |
152.252 |
219.943 |
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Less |
FINANCIAL
EXPENSES (D) |
26.470 |
33.540 |
28.228 |
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PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
156.492 |
118.712 |
191.715 |
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Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
42.439 |
38.133 |
31.035 |
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PROFIT BEFORE
TAX (E-F) (G) |
114.053 |
80.579 |
160.680 |
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Less |
TAX (I) |
20.207 |
11.642 |
31.155 |
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PROFIT AFTER TAX
(G-I) (J) |
93.846 |
68.937 |
129.525 |
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Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
394.367 |
346.306 |
244.113 |
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Less |
APPROPRIATIONS |
|
|
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Proposed Dividend on Equity Shares |
9.800 |
9.800 |
12.250 |
|
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Provision for Tax on Proposed Dividend |
1.666 |
1.666 |
2.081 |
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|
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Transfer to General Reserve |
15.000 |
9.408 |
13.000 |
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BALANCE CARRIED
TO THE B/S |
461.747 |
394.369 |
346.307 |
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EARNINGS IN
FOREIGN CURRENCY |
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Export Earnings |
0.355 |
0.762 |
NA |
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Commission Earnings |
3.246 |
4.904 |
NA |
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TOTAL EARNINGS |
3.601 |
5.666 |
NA |
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IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
381.573 |
345.873 |
NA |
|
|
|
Finished Goods, Hardware Purchases and Spares |
150.937 |
210.444 |
NA |
|
|
|
Capital Goods |
6.514 |
12.253 |
NA |
|
|
TOTAL IMPORTS |
539.024 |
568.570 |
NA |
|
|
|
|
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|
|
|
|
Earnings Per
Share (Rs.) |
18.77 |
13.53 |
23.81 |
|
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Particulars |
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|
31.03.2011 |
|
Sales Turnover |
|
|
2000.000 |
Expected Sales (2011-2012): Rs.2500.000 Millions
The above information has been parted by Mr. P. Sarkar
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
5.56
|
3.73 |
7.85 |
|
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Net Profit Margin (PBT/Sales) |
(%) |
6.90
|
4.39 |
9.83 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
9.64
|
8.06 |
16.37 |
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Return on Investment (ROI) (PBT/Networth) |
|
0.16
|
0.13 |
0.28 |
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Debt Equity Ratio (Total Liability/Networth) |
|
0.73
|
0.82 |
0.88 |
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Current Ratio (Current Asset/Current Liability) |
|
3.25
|
2.55 |
2.60 |
LOCAL AGENCY FURTHER INFORMATION
Sundry
Creditors
(Rs.
In Millions)
|
Particulars |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
Sundry Creditors for goods supplied |
158.486 |
198.859 |
165.658 |
|
Sundry Creditors for others |
58.747 |
47.376 |
60.250 |
BUSINESS OPERATIONS:
The Year has closed with a gross revenue of Rs.1687.800 Millions, the revenue from sales and service @ Rs. 1601.600 Millions as against Rs. 1 846.700 Millions and Rs. 1834.300 Millions respectively indicating a decrease of 9.42% and 9.96% respectively. The Annual Maintenance Contract revenue closed at Rs.149.800 Millions as against Rs.147.700 Millions. Similarly, the company has earned pre tax profit of Rs. 114.100 Millions as against Rs.80.600 Millions and 1,)ost tax profit of Rs.92.100 Millions Crores as against Rs.66.400 Millions in the previous year.
During the year, company's income from sales and service has shown decrease since economy is still reeling under recession but the indications are positive that growth will follow soon. You will observe from the financial statement that the company has controlled the cost and also structured the resources in such a way that in spite of decrease in the revenue, profit has gone up from Rs.80.500 Millions to Rs. 114.000 Millions.
There is a thrust in implementing various IT programs, the company is hopeful that the current year will close the business operations with decent growth. However, having regard to inflationary pressure in economy, The Directors strike a cautious note about the profitability in current year.
FIXED ASSETS
· Leasehold land
· Factory / Office building
· Plant and machinery
· Computer
· Office vehicles
·
· Diesel Generator Set
· Electrical Installation
· Office Equipments
· Tools Dies and Equipments
· Technical Know how
FORM 8
|
Corporate
identity number of the company |
U36007MH1992PLC066759 |
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Name of the
company |
LIPI DATA SYSTEMS LIMITED |
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Address of the
registered office or of the principal place of business in |
1, Mittal Chambers, Nariman Point, Mumbai – 400022, |
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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
entry,dated 14.07.2010 |
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Date of
instrument Creating the charge |
14.07.2010 |
||||||||||||||||||||||||
|
Amount secured by
the charge |
Rs. 483.500
Millions |
||||||||||||||||||||||||
|
Brief of the principal
terms an conditions and extent and operation of the charge |
Rate of Interest Interest and
commission as per the terms and conditions of the sanction conveyed by each
consortium member Bank (SBBJ and Corporation Bank) which is subject to change
from time to time/RBI Guidelines. Terms of
Repayment Working capital
(SBBJ and Corporation Bank) Repayable on demand. Margin Raw
materials - 25% Finished
goods - 25% Packing
materials - 25% Goods in
transit - 25% Stores &
Consumable spares - 30% Book debts (Cover
90 days) - 30% Bank
Guarantee - 5% Extent and
Operation of the charge The aggregate
credit facilities of Rs.483.500 millions
(SBBJ- Rs. 223.500 millions Plus Corporation Bank- Rs.260.000
millions) to be secured by 1st pari passu charge over the immovable property
being plot of land measuring 3.9 acres and building Village Purohito ki mandri,Khsara
no.749 & 753,Tehsil-Girwa,Dist-Udaipur (Rajasthan), more particularly of
the properties described in memorandum of entry enclosed, with intent to
create security thereon for the due repayment Others The credit
facilities secured as under (Rs. in Millions)
|
||||||||||||||||||||||||
|
Particulars of
the property charged |
1st pari passu
charge over the immovable property being plot of land measuring 3.9 acres and
building Village Purohito ki mandri,Khsara no.749 &
753,Tehsil-Girwa,Dist-Udaipur (Rajasthan). |
||||||||||||||||||||||||
|
Date of
instrument modifying the charge |
12.07.2010 |
||||||||||||||||||||||||
|
Particulars of
the present modification |
By virtue of
memorandum of entry,dtd 14.07.10,The existing working capital facilities
(fund based & non fund based) have
been modified and is now being enhanced to Rs.48.35 crores as under (a) SBBJ - (i) CC -Rs.120.000 miilions (ii)
BG -Rs.100.000 millions (SLC - Rs.23.500 millions = Rs.243.500 millions (b) Corporation Bank (i) CC -Rs.80.000
millions (ii) LC -Rs.120.000 millions (iii) BG -Rs.40.000 millions = Rs.240.000 millions Now,the amount of
charge on immovable properties extend to aggregate of Rs.483.500 millions |
|
Corporate
identity number of the company |
U36007MH1992PLC066759 |
|
Name of the
company |
LIPI DATA SYSTEMS
LIMITED |
|
Address of the
registered office or of the principal place of business in |
1, Mittal Chambers, Nariman Point, Mumbai-400021, |
|
This form is for |
Creation of
charge |
|
Type of charge |
Book Debts Movable Property Floating Charge |
|
Particular of
charge holder |
Corporation Bank, Email ID: cb0024@corpbank.co.in |
|
Nature of
instrument creating charge |
Common Deed of
Hypothecation of Movables/ Assets/ Debts |
|
Date of
instrument Creating the charge |
29.09.2009 |
|
Amount secured by
the charge |
Rs. 40.000
Millions |
|
Brief of the principal
terms an conditions and extent and operation of the charge |
Terms of
Repayment Bank Guarantee
Limit Only Margin As Prescribed Extent and
Operation of the charge To The Extent of
Bank Guarantee Amount And Other Charges, Damages etc. |
|
Short particular
of the property or asset(s) charged |
Stock And Book
Debts on Pari Passu Basis With Other Consortium Lenders. |
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.45.25 |
|
|
1 |
Rs.72.82 |
|
Euro |
1 |
Rs.63.58 |
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 |
6 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
50 |
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.