MIRA
INFORM REPORT
|
Report Date : |
26.11.2011 |
IDENTIFICATION DETAILS
|
Name : |
ADM AGRO INDUSTRIES KOTA AND AKOLA PRIVATE LIMITED [w.e.f. 03.11.2011] |
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Formerly Known
As : |
GEEPEE AGRI PRIVATE LIMITED [w.e.f. 16.07.2009] NOBLE GRAIN INDIA PRIVATE LIMITED |
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Registered
Office : |
B – 1, Defence Colony, |
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Country : |
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Financials (as
on) : |
31.03.2010 |
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Date of
Incorporation : |
29.04.1991 |
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Com. Reg. No.: |
55-205408 |
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Capital
Investment / Paid-up Capital : |
Rs.577.905 Millions |
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CIN No.: [Company Identification
No.] |
U15493DL1991PTC205408 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
The Company is engaged in
the business of manufacturing/extraction/trading and refining of edible oils
from oil seeds. |
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No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B [30] |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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USD 1990000 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate track. There appear
some accumulated losses recorded by the company. However, trade relations are
reported as fair. Business is active. Payments are reported to be slow. 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 – September 30, 2011
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Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
INFORMATION PARTED BY
|
Name : |
Mr. Sumit |
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Designation : |
Account Department |
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Contact No.: |
91-124-4937800 |
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Date : |
24.11.2011 |
LOCATIONS
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Registered Office : |
B – 1, Defence Colony, |
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Tel. No.: |
91-11-23354904 |
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Fax No.: |
91-120-4762444 |
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E-Mail : |
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Website : |
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Head Office : |
Located at
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Branch Office 1 : |
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Branch Office 2 : |
N-55, MIDC, Phase IV, Village Shivani, District |
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Tel. No.: |
91-724-2259012 – 15 |
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Fax No.: |
91-724-2259091 |
DIRECTORS
|
Name : |
Mr. Amit Bhuttan |
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Designation : |
Director |
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Name : |
Mr. C S Sharma |
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Designation : |
Director |
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Name : |
Mr. Peter Frieling |
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Designation : |
Director |
KEY EXECUTIVES
|
Name : |
Rajendra Kumar Gupta |
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Designation : |
Secretary |
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Address : |
F-615, Indra Vihar, |
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Date of Birth/Age : |
07.02.1940 |
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Date of Appointment : |
20.04.2006 |
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PAN : |
ABVPG0893K |
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Name : |
Mr. Sumit |
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Designation : |
Account Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.06.2011
|
Names of Shareholders |
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No. of Equity
Shares |
|
Siam Stock Holdings Limited, |
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33142138 |
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Arwind Silk Mills Private Limited, |
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235849 |
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Illingworth Marketing Private Limited, |
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660377 |
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Mahendra Kumar Mansignka |
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1415094 |
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Maneesh Mansignka |
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141510 |
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Rita Mansingka |
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141509 |
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Shweta Mansingka |
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141509 |
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Mahendra Kumar Mansignka [HUF] |
|
94340 |
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Total |
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35972326 |
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||
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Names of Shareholders |
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No. of
Preference Shares |
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India Agri business Fund Limited, |
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21741818 |
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Real Trust |
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76364 |
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Total |
|
21818182 |
As on 30.06.2011
|
Equity Share
Break Up Category |
Percentage |
|
Bodies corporate |
94.62 |
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Directors or relatives of Directors |
5.38 |
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Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
The Company is engaged in
the business of manufacturing/extraction/trading and refining of edible oils
from oil seeds. |
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Products : |
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PRODUCTION STATUS [As on 31.03.2010]
|
Particulars |
Unit |
Licensed
Capacity |
Installed
Capacity |
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Solvent Plant – extraction of vegetables oils |
MT |
450000 |
450000 |
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Refined vegetables oils |
MT |
93000 |
60000 |
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Pungent and expeller oils |
MT |
60000 |
6000 |
PRODUCTION STATUS [As on 31.03.2010]
|
Particulars |
Unit |
Actual
Production |
|
De-oiled Cake |
MT |
55897 |
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Vegetable Crude / degummed oil |
MT |
809 |
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Refined oil |
MT |
20237 |
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Pungent oil* |
MT |
1115 |
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Oiled cake |
MT |
43 |
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*includes 650.573 MT [previous year Nil] mustard pungent oil produced
during trial run |
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GENERAL INFORMATION
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No. of Employees : |
Not Available |
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Bankers : |
State Bank of |
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Facilities : |
Notes: Amount
of corporate loans repayable within one year from banks
- Rs. 113.434 millions (Previous year Rs.Nil), From others -
Rs.Nil (Previous year Rs.40.000 millions) |
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(a) Corporate loan amounting to Rs.305.934 (Previous year Rs.Nii) from
State Bank of Hyderabad is secured by first charge on movable and immovable
fixed assets (both present and future) of the Company, and also, secured by a
second charge on the current assets i.e. stock of raw material, finished
goods, stock-in-process, outstanding monies, book debt,. receivable and other
current assets of the Company, both present and future, The same is further
secured by personal guarantee of Sh. Mahendra Mansingka — Managing Director
and Sh, Maneesh Mansingka — Director and Chief Executive Officer and
corporate guarantee of Graintrade Limited incorporated in Bangkok. (b) Working capital loans amounting to Rs.38.052 (Previous year Rs.
Nil) from State Bank of Hyderabad is secured by first charge on the current
assets i.e. stock of raw material, finished goods, stock-in-process, outstanding
monies, book debts, receivable and other current assets of the Company, both
present and future, and also, secured by a second charge on movable and
immovable fixed assets both present and future of the Company. The same is
further secured by personal guarantee of Shri Mahendra Mansingka — Managing
Director and Sh. Maneesh Mansingka — Director and Chief Executive Officer and
corporate guarantee of Grain Trade Limited incorporated in (c) Letter of Credit and Bank Guarantee facilities amounting
toRs.189.737 (Previous year Rs Nil)
and R.s.20.440 (Previous Year Rs Nil) respectively from State Bank of
Hyderabad is secured by first charge on the current assets i.e. stock of raw
material, finished goods, stock-in-process, outstanding monies, book debts,
receivable and other current assets of the Company, both present and future,
and also, secured by a second charge on movable and immovable fixed assets
both present and future of the Company. The same is further secured by
personal guarantee of Sh. Mahendra Mansingka — Managing Director and Sh.
Maneesh Mansingka — Director and chief Executive Officer and corporate
guarantee of Grain Trade Limited incorporated in (d) Term loan amounting to Rs. Nil (Previous year Rs.110.000) from
RABO India Finance Private Limited was secured by first charge on movable and
immovable assets of the Company, and also, secured by a second charge on the
current assets of the Company, both present and future. The same was further
secured by Corporate Guarantee from Noble Group Limited., |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Walker Chandiok and Company Chartered Accountants |
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Address : |
L 41, Cannaught Circus, |
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Tel. No.: |
91-11-42787070 |
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Fax No.: |
91-11-42787071 |
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E-Mail : |
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PAN : |
AAAFW4298E |
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Holding Company : |
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Ultimate Holding Company: |
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Fellow Subsidiary Company : |
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Enterprises owned or
significantly influenced by key management personnel or their relatives : |
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* upto
June 30, 2009 ** w.e.f. July 1,2009 |
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CAPITAL STRUCTURE
As on 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
36,000,000 |
Equity Shares |
Rs.10/- each |
Rs.360.000
millions |
|
24,000,000 |
9.90% Cumulative Compulsorily Convertible Preference Shares |
Rs.10/- each |
Rs.240.000
millions |
|
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Total |
|
Rs.
600.000 millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
35,972,326* |
Equity Shares |
Rs.10/- each |
Rs.359.723
millions |
|
21,818,182 |
9.90% Cumulative Compulsorily Convertible Preference Shares |
Rs.10/- each |
Rs.218.182
millions |
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Total |
|
Rs.
577.905 millions |
*33,142,138 (Previous year
17,616,037) equity shares of Rs, 10 each fully paid up are held by Siam Stock
Holdings Limited, the Holding Company
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
Particulars |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
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1] Share Capital |
577.905 |
359.723 |
359.723 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
11.348 |
12.614 |
0.000 |
|
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4] (Accumulated Losses) |
[90.095] |
0.000 |
[142.414] |
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NETWORTH |
499.158 |
372.337 |
217.309 |
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LOAN FUNDS |
|
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1] Secured Loans |
343.987 |
110.000 |
2013.148 |
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2] Unsecured Loans |
0.000 |
0.000 |
661.365 |
|
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TOTAL BORROWING |
343.987 |
110.000 |
2674.513 |
|
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DEFERRED TAX LIABILITIES |
1.584 |
48.979 |
0.000 |
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TOTAL |
844.729 |
531.316 |
2891.822 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
554.134 |
455.915 |
503.731 |
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CAPITAL WORK-IN-PROGRESS |
0.133 |
95.711 |
0.726 |
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INTANGIBLE ASSETS |
0.927 |
7.941 |
26.457 |
|
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INVESTMENT |
0.223 |
0.185 |
0.172 |
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DEFERREX TAX ASSETS |
0.000 |
0.000 |
40.428 |
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
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|
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Inventories |
276.824
|
180.855 |
2318.915 |
|
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Sundry Debtors |
70.200
|
74.223 |
579.723 |
|
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Cash & Bank Balances |
106.271
|
54.939 |
14.916 |
|
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Other Current Assets |
6.461
|
7.515 |
53.523 |
|
|
Loans & Advances |
112.640
|
93.724 |
97.895 |
|
Total
Current Assets |
572.396
|
411.256 |
3064.972 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
250.744
|
142.021 |
489.258 |
|
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Other Current Liabilities |
21.920
|
240.634 |
228.046 |
|
|
Provisions |
10.420
|
57.037 |
27.360 |
|
Total
Current Liabilities |
283.084
|
439.692 |
744.664 |
|
|
Net Current Assets |
289.312
|
[28.436] |
2320.308 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
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TOTAL |
844.729 |
531.316 |
2891.822 |
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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 |
3177.969 |
5982.218 |
7177.747 |
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Other Income |
131.704 |
418.811 |
136.799 |
|
|
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TOTAL (A) |
3309.673 |
6401.029 |
7314.546 |
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|
|
|
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Less |
EXPENSES |
|
|
|
|
|
|
|
Material Cost |
2977.305 |
5130.234 |
5898.674 |
|
|
|
Personnel Expenses |
69.903 |
73.102 |
69.922 |
|
|
|
Operating and other Expenses |
341.579 |
766.722 |
945.174 |
|
|
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TOTAL (B) |
3388.787 |
5970.058 |
6913.770 |
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PROFIT/[LOSS]
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
[79.114] |
430.971 |
400.776 |
|
|
|
|
|
|
|
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Less |
FINANCIAL
EXPENSES (D) |
39.286 |
89.719 |
227.320 |
|
|
|
|
|
|
|
|
|
|
PROFIT/[LOSS]
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
[118.400] |
341.252 |
173.456 |
|
|
|
|
|
|
|
|
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Less/ Add |
DEPRECIATION/ AMORTISATION (F) |
36.060 |
45.166 |
46.556 |
|
|
|
|
|
|
|
|
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|
PROFIT / [LOSS]
BEFORE TAX (E-F) (G) |
[154.460] |
296.086 |
126.900 |
|
|
|
|
|
|
|
|
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Less |
TAX (H) |
[47.778] |
98.973 |
[23.229] |
|
|
|
|
|
|
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|
PROFIT / [LOSS]
AFTER TAX (G-H) (I) |
[106.682] |
197.113 |
150.129 |
|
|
|
|
|
|
|
|
|
|
Tax in respect of earlier years |
[3.973] |
0.000 |
0.000 |
|
|
|
|
|
|
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|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
12.614 |
[142.414] |
[291.682] |
|
|
|
|
|
|
|
|
|
Less |
Adjustment for employee benefits as per
transitional provision |
0.000 |
0.000 |
0..861 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Proposed Final Dividend |
0.000 |
35.972 |
0.000 |
|
|
|
Tax on Dividend |
0.000 |
6.113 |
0.000 |
|
|
BALANCE CARRIED
TO THE B/S |
[90.095] |
12.614 |
[142.414] |
|
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|
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EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
De-oiled Cake [FOB value] |
39.861 |
1178.485 |
565.017 |
|
|
|
Settlement Contracts |
1.257 |
0.000 |
1.303 |
|
|
TOTAL EARNINGS |
41.118 |
1178.485 |
566.320 |
|
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IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
323.716 |
0.000 |
0.000 |
|
|
|
Traded Goods |
252.421 |
76.707 |
44.774 |
|
|
TOTAL IMPORTS |
576.137 |
76.707 |
44.774 |
|
|
|
|
|
|
|
|
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|
Earnings/[Loss]
Per Share (Rs.) |
[3.14] |
5.48 |
4.17 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
[3.22]
|
3.08 |
2.05 |
|
|
|
|
|
|
|
(PBT/Sales) |
(%) |
[4.86]
|
4.95 |
1.77 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
[13.71]
|
34.14 |
3.55 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
[0.31]
|
0.79 |
0.58 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.26
|
1.47 |
15.73 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.02
|
0.93 |
4.11 |
LOCAL AGENCY FURTHER INFORMATION
Note : Registered office
address of the company has been shifted from Gauri Sadan, E-701, 7th
Floor, 5,
Background of the Company
The Company is primarily in
the business of manufacturing/extraction/trading and refining of edible oils
from oil seeds. The name of the Company has been changed from Noble Grain India
Private Limited to Geepee Agri Private Limited with effect from 16 July 2009.
Pursuant to the provisions
of Section 17 of the Companies Act, 1956, and consequent to the order passed by
honorable Company Law Board on 1 June 2010 the Registered Office of the Company
stands transferred from the state of Madhya Pradesh to National Capital
Territory of Delhi w.e.f 10 June 2010.
On 30 June 2009, Ramsgate
Associates Limited (the erstwhile holding company) has sold its entire share
holding of 18,356,289 equity shares of face value of Rs.10 each to Siam Stock
Holding Limited, which has now become the holding the Company pursuant to such
share purchase.
Contingent liabilities
Contingent liabilities not
provided for are as follows:
The Company has estimated
Contingent liabilities in respect of show-cause notices/demands received from
Government Authorities and others in respect of the following:
Rs. in millions
|
Particulars |
As
on 31.03.2010 |
|
Demand by sales tax authorities
for excess utilization of sales tax during exemption period |
Nil |
|
Demands against the
Company not acknowledged as debts being demands raised by VAT authorities and
contested in appeals. |
5.314 |
|
Demands raised Service Tax
Authorities against the Company and contested in Appeal |
3.531 |
|
Demand raised by local
Gram Panchayat ( |
2.233 |
Bankers Charges
Report as per Registry
|
Corporate
identity number of the company |
U15493MP1991PTC006405 |
|
Name of the
company |
GEEPEE AGRI
PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
311, Apollo Trade
Centre, 2-B Rajgarh Kothi, Geeta Bhawan Square, A.B. Road, Indore - 452001,
Madhya Pradesh, India |
|
This form is for |
Modification of
charge |
|
Charge
identification (ID) number of the charge to be modified |
10176000 |
|
Type of charge |
Immovable Property |
|
Particular of
charge holder |
State Bank of Email : sbhkgmarg@yahoo.co.in
|
|
Nature of
instrument creating charge |
Memorandum of
Deposit for Creation of Charge for Term Loan / Overall Limit. |
|
Date of
instrument Creating the charge |
13.10.2009 |
|
Amount secured by
the charge |
Rs.1430.000
millions |
|
Brief of the principal
terms an conditions and extent and operation of the charge |
Rate of Interest
- Rate of Interest @ SBH PLR Presently 12.75% p.a. (Floating) Terms of
Repayment – Working Capital -
Payable on Demand. Corporate Loan - Repayable
in 12 Quarterly Installments of Rs. 27.500 millions each w.e.f. 31.03.2010
and Interest to be serviced as and when applied. Margin – 25% Extent and
Operation of the charge – Working capital -
1st charge on current assets and 2nd charge on fixed assets. Corporate loan -
1st charge on fixed assets and 2nd charge on current assets. Others – The above is to
secure The Following :- (Rs. In millions) Cash Credit (hypothecation)= 750.000 EPC/PCFC = (500.000) sublimit to CC
(hypothecation.) FUBD/FDBP/EBR =
(500.000) sublimit to CC (hypothecation) Letter of
Credit = 300.000 Bank
Guarantee = 50.000 Corporate
Loan = 330.000 |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
Working capital -
hypothecated by way of 1st charge on company's current assets i.e. stock of
raw material, finished goods, stock in process (such as soya/rape seed, other
oil bearing seeds oil cakes, oils, vanaspati, hexane, coal, packing material
etc.) and second charge over movable and immovable fixed assets both present
and future of the company Corporate loan -
1st charge over movable and immovable Fixed assets and 2nd charge over
current assets both present and future. |
|
Particulars of
the present modification |
Credit facilities
of Rs. 1430.000 millions already secured by hypothecation over current assets
and movable fixed assets of the company shall now adlly. Be secured by eq.
Mortgage over company's immovable Property i.e. plots meas. 2.03 hect. In
khasara no. 237, 0.18 hect. In khasara no. 236, 1.15 hect. In khasara
no.235, 2.25 hect. In khasara no. 217,
1.80 hect. In khasara no.238 and 3.40 hect. In Khasara No. 218 situated in
village Taathed, Tehsil Ladpura, District. |
FIXED ASSETS :
- Land
- Building
- Plant and Machinery
- Furniture and Fixtures
- Computer Software
- Goodwill
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 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.52.16 |
|
|
1 |
Rs.80.64 |
|
Euro |
1 |
Rs.69.42 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
2 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
30 |
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.