1. Summary Information
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|
|
Country |
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Company Name |
ARDOR INTERNATIONAL PRIVATE LIMITED |
Principal Name 1 |
Mr. Fenilbhai B. Shah |
|
Status |
Moderate |
Principal Name 2 |
Mrs. Gitaben B. Shah |
|
|
|
Registration # |
04-42016 |
|
Street Address |
B-1001-4, Premium House, Behind Handloom House, Ashram road, Ahmedabad
– 380009, |
||
|
Established Date |
18.02.2003 |
SIC Code |
-- |
|
Telephone# |
91-79-26584511-14 |
Business Style 1 |
Trader |
|
Fax # |
91-79-26584515 |
Business Style 2 |
-- |
|
Homepage |
Product Name 1 |
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|
|
# of employees |
24 (In Office
-14 and In Branches -10) |
Product Name 2 |
Cosmetics |
|
Paid up capital |
Rs. 300,000,000/- |
Product Name 3 |
Toilet Soaps |
|
Shareholders |
Bodies corporate – 45.26 Directors or relatives of Directors – 54.74 |
Banking |
Bank of |
|
Public Limited Corp. |
No |
Business Period |
8 years |
|
IPO |
No |
International Ins. |
- |
|
Public |
No |
Rating |
B (27) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
CEO |
|
Subsidiaries |
|
J.B. Chemicals |
-- |
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2010 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
1,348,269,000 |
Current Liabilities |
633,919,000 |
|
Inventories |
389,093,000 |
Long-term Liabilities |
669,674,000 |
|
Fixed Assets |
11,446,000 |
Other Liabilities |
1,238,000 |
|
Deferred Assets |
0 |
Total Liabilities |
1,304,831,000 |
|
Invest& other Assets |
55,315,000 |
Retained Earnings |
124,292,000 |
|
|
|
Net Worth |
499,292,000 |
|
Total Assets |
1,804,123,000 |
Total Liab. & Equity |
1,804,123,000 |
|
Total Assets (Previous Year) |
1,257,257,000 |
|
|
|
P/L Statement as of |
31.03.2010 |
(Unit: Indian Rs.) |
|
|
Sales |
6,277,140,000 |
Net Profit |
38,892,000 |
|
Sales(Previous yr) |
3,905,772,000 |
Net Profit(Prev.yr) |
75,072,000 |
MIRA
INFORM REPORT
|
Report Date : |
05.10.2011 |
IDENTIFICATION DETAILS
|
Name : |
ARDOR INTERNATIONAL PRIVATE LIMITED |
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|
|
|
Registered Office : |
B-1001-4, Premium House, Behind Handloom House, Ashram road, Ahmedabad
– 380009, |
|
|
|
|
Country : |
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Financials (as on) : |
31.03.2010 |
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|
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Date of Incorporation : |
18.02.2003 |
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|
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Com. Reg. No.: |
04-42016 |
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|
|
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Capital Investment / Paid-up Capital : |
Rs. 300.000 Millions |
|
|
|
|
CIN No.: [Company
Identification No.] |
U51909GJ2003PTC042016 |
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|
|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
AHMA02915D AHMA08145E |
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Legal Form : |
Private Limited Liability Company |
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|
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Line of Business : |
Trader of chemicals. |
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No. of Employees : |
24 (In Office -14 and In Branches -10) (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (27) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 1900000 |
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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. Trade relations
are reported as fair. Business is active. Payments are reported to be slow
but correct. The company can be considered for business dealings with some caution.
|
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – April 1, 2010
|
Country Name |
Previous Rating (31.12.2009) |
Current Rating (01.04.2010) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
|
Off-credit |
D |
LOCATIONS
|
Registered Office : |
B-1001-4, Premium House, Behind Handloom House, Ashram road, Ahmedabad
– 380009, |
|
Tel. No.: |
91-79-26584511-14 |
|
Fax No.: |
91-79-26584515 |
|
E-Mail : |
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|
Website : |
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Area : |
3000 sq. ft. |
|
Location : |
Rented |
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Branch Office : |
Located At
|
DIRECTORS
AS ON : 30.09.2010
|
Name : |
Mr. Fenilbhai B. Shah |
|
Designation : |
Director |
|
Address : |
A-11, North way Apartment, St. Xavrer Collage Road, Navrangpura,
Ahmedabad – 380009, Gujarat, India |
|
Qualification : |
Chemical Engineer MBA IT |
|
Date of Appointment : |
18.02.2003 |
|
|
|
|
Name : |
Mrs. Gitaben B. Shah |
|
Designation : |
Director |
|
Address : |
A-11, North way Apartment, St. Xavrer Collage Road, Navrangpura,
Ahmedabad – 380009, Gujarat, India |
|
Date of Appointment : |
18.02.2003 |
|
|
|
|
Name : |
Mr. Bharatbhai Ratnshi Shah |
|
Designation : |
Director |
|
Address : |
301, Heritage Crescent, Opposite Shantineketan Bunglows, S.G. Highway,
Prahladnagar, Ahmedabad – 380051, Gujarat, India |
|
Date of Appointment : |
18.03.2010 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON : 30.09.2010
|
Names of Shareholders |
No. of Shares |
|
Fenil B. Shah |
2727000 |
|
Gitaben Shah |
2727000 |
|
Janaki F. Shah |
2727000 |
|
Smita Rakesh Bhatt |
171500 |
|
Shilpa Rakesh Shah |
171500 |
|
Hasmukh D. Thakor |
84250 |
|
Umang S. Patel |
84250 |
|
Navin D. Thakor |
84250 |
|
Nilesh Ashokkumar Solankhi |
84250 |
|
Nipesh R. Shah |
106750 |
|
Kamini A Soni |
171500 |
|
Amitaben S. Shah |
122500 |
|
Shaileshkumar R. Shah |
62500 |
|
Shailesh Shah (HUF) |
62500 |
|
Arunkumar Shah (HUF) |
113500 |
|
Ruchitkumar A. Shah |
113500 |
|
Nayanaben Shah |
111000 |
|
Milanbhai Mehta |
116625 |
|
Shrikeshbhai Mehta |
116625 |
|
Nitaben Mehta |
116625 |
|
Malvikaben Mehta |
116625 |
|
Vasumatiben Mehta |
177250 |
|
Bharatbhai Shah |
2727000 |
|
Jinal Shah |
2727000 |
|
Ardor In – Fin Private Limited, Ahmedabad |
2727000 |
|
Jayco Synthtics Private Limited, Ahmedabad |
2669500 |
|
Nayankumar Mehta |
600000 |
|
Ardor Structure Private Limited, Ahmedabad |
2727000 |
|
Greenland Infracon Private Limited, Ahmedabad |
2727000 |
|
Infinium Det chem. Private Limited, Ahmedabad |
2727000 |
|
Total |
30000000 |
AS ON : 30.09.2010
|
Category |
Percentage |
|
Bodies corporate |
45.26 |
|
Directors or relatives of Directors |
54.74 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Trader of chemicals |
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|
Products : |
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GENERAL INFORMATION
|
No. of Employees : |
24 (In Office -14 and In Branches -10) (Approximately) |
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Bankers : |
Ahmedabad Corporation Banking Branch, Bhadra Ahmedabad – 380001,
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Vipul and Manish Associates Chartered Associates |
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Address : |
Panchwati, Ahmedabad – 380006, |
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Subsidiaries : |
|
CAPITAL STRUCTURE
AS ON 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
50000000 |
Equity Shares |
Rs.10/- each |
Rs. 500.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
30000000 |
Equity Shares |
Rs.10/- each |
Rs.300.000 Millions |
|
|
|
|
|
Note : Of the above 750000 Equity Shares fully paid up
have been issued as bonus shares
AS ON 30.09.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
100000000 |
Equity Shares |
Rs.10/- each |
Rs.1000.000 Millions |
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|
|
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
42500000 |
Equity Shares |
Rs.10/- each |
Rs.425.000 Millions |
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FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
300.000 |
230.000 |
100.000 |
|
|
2] Share Application Money |
75.000 |
40.000 |
0.000 |
|
|
3] Reserves & Surplus |
124.292 |
49.258 |
10.094 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
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NETWORTH |
499.292 |
319.258 |
110.094 |
|
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LOAN FUNDS |
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1] Secured Loans |
320.006 |
215.140 |
42.375 |
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2] Unsecured Loans |
349.668 |
311.627 |
354.104 |
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TOTAL BORROWING |
669.674 |
526.767 |
396.479 |
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DEFERRED TAX LIABILITIES |
1.238 |
0.466 |
0.360 |
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|
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|
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TOTAL |
1170.204 |
846.491 |
506.933 |
|
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|
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|
|
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APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
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|
FIXED ASSETS [Net Block] |
11.446 |
3.744 |
3.800 |
|
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Capital work-in-progress |
40.000 |
0.000 |
0.000 |
|
|
|
|
|
|
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INVESTMENT |
13.489 |
1.900 |
1.900 |
|
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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 |
389.093 |
184.818 |
86.263 |
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Sundry Debtors |
1004.516 |
860.140 |
521.399 |
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Cash & Bank Balances |
48.988 |
71.655 |
96.035 |
|
|
Other Current Assets |
0.000 |
0.000 |
0.000 |
|
|
Loans & Advances |
294.765 |
134.071 |
25.120 |
|
Total
Current Assets |
1737.362 |
1250.684 |
728.817 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Current Liabilities |
215.653 |
10.000 |
36.372 |
|
|
Sundry Creditors |
418.266 |
400.766 |
191.743 |
|
|
Provisions |
0.000 |
0.000 |
0.000 |
|
Total
Current Liabilities |
633.919 |
410.766 |
228.115 |
|
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Net Current Assets |
1103.443 |
839.918 |
500.702 |
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MISCELLANEOUS EXPENSES |
1.826 |
0.929 |
0.531 |
|
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|
|
|
|
|
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TOTAL |
1170.204 |
846.491 |
506.933 |
|
PROFIT & LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
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Income |
6277.140 |
3905.772 |
1431.379 |
|
|
|
Other Income |
8.870 |
7.279 |
5.883 |
|
|
|
TOTAL (A) |
6286.010 |
3913.051 |
1437.262 |
|
|
|
|
|
|
|
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Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of goods sold |
6014.956 |
3735.114 |
1353.755 |
|
|
|
Payment to and provision for employee |
41.570 |
13.835 |
6.315 |
|
|
|
Preliminary Expenses written off |
0.653 |
0.351 |
0.201 |
|
|
|
Administrative Expenses |
56.030 |
24.777 |
12.339 |
|
|
|
TOTAL (B) |
6113.209 |
3774.077 |
1372.610 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
172.801 |
138.974 |
64.652 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
55.511 |
76.242 |
31.253 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
117.290 |
62.732 |
33.399 |
|
|
|
|
|
|
|
|
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Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
0.944 |
0.519 |
0.486 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
116.346 |
62.213 |
32.913 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
41.274 |
23.321 |
10.411 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
75.072 |
38.892 |
22.502 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
49.258 |
10.094 |
3.034 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
0.000 |
0.000 |
0.000 |
|
|
|
Dividend |
0.000 |
0.000 |
13.130 |
|
|
|
Tax on Dividend |
0.000 |
0.000 |
2.231 |
|
|
BALANCE CARRIED
TO THE B/S |
124.292 |
49.258 |
10.094 |
|
|
|
|
|
|
|
|
|
|
EARNING IN
FOREIGN CURRENCY |
142.774 |
50.715 |
-- |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
3.26 |
3.05 |
2.25 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
1.19 |
0.99 |
1.57 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
1.85 |
1.59 |
2.30 |
|
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|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
6.65 |
4.95 |
4.50 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.23 |
1.99 |
0.30 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
2.61 |
2.93 |
5.67 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.74 |
3.04 |
3.19 |
LOCAL AGENCY FURTHER INFORMATION
Note :
The registered office address of the company
has been shifted from B-904, Premium House, Behind Handloom House,
OPERATIONS :
The company has achieved turnover of Rs.
6277.100 millions during the year and earned net profit after tax of Rs. 75.100
millions after making provision for tax of Rs. 41.300 millions. The operation
of company comprised of sales of LAB, DDB, STPP, Soda Ash and Other Chemicals.
The company is confident to achieve higher sales in the coming years.
FORM : 8
|
Corporate identity number of the company |
U51909GJ2003PTC042016 |
|
Name of the company |
ARDOR INTERNATIONAL PRIVATE LIMITED |
|
Address of the registered office or of the principal place of business in |
|
|
This form is for |
Modification of charge |
|
Type of charge |
Book debts Movable property (not being pledge) Floating charge |
|
Particular of charge holder |
Bank Of India, Ahmedabad Large Corporate Branch, 2nd Floor, BOI
Building, Bhadra, Ahmedabad, Gujarat- 380001, India |
|
Nature of instrument creating charge |
Third Supplemental Joint Deed of Hypothecation Executed By The Company
In Favour of BOI Consortium (BOI, UBI, OBC, Axis Bank, RNSBL ) BOI Being Lead
To Secure Revised, Modified And Increased Fund Based and Non Fund Based Total
Aggregate Limits of Rs. 1570.000 millions |
|
Date of instrument Creating the charge |
01/09/2010 |
|
Amount secured by the charge |
Rs. 1570.000 millions |
|
Brief of the principal terms an conditions and extent and operation of
the charge |
Rate of interest
: Nil Terms of
repayment : Nil Margin : Nil Extent and
operation of the charge : 1st Parri Passu Hypothecation CH on Plant and Mach In Favor of BOI and
OBC To Sec TM LNS Rs. 220.000 millions,
1st and Parri Passu
Hypothecation Charge on All Tan Movable Property Being Stocks of Material, Book Debts and Other
Movable Assets and 2nd and Parri Passu Hypothecation Charge on Plant and Mach
To Secure Modified, Revised and
Increased FB and NFB WC Limit of Rs. 1350.000 millions With Tot Aggregate
Limit of Rs 1570.000 millions Along
with Interest, Additional Interest, Penal Interest, Cost, Charges, Commission
and All Other Amt Due To The Consortium Banks of What So Ever Nature Fm Time
To Time Other : Revised Lim Rs In Millions Bank BBI UBI OBC
Axis RNSL Tot Work Cap Lim 400 350 150 350 100 1350 Term Loan 120 --- 100 --- --- 220 Total 520 350 250 350 100 1570 |
|
Short particulars of the property charged (Including location of the
property) |
1.
First Charge on The Whole of Current Assets
Namely Zeolite, Sodium, Trupolyphosphate (Stpp) Other Detergent and Com
Parts, Plant and Mach Situated At Harisiddh Estate, Near Oswal Chemical
Aslali, Ahm or Else 2.
First Charge on The Whole of Current Assets
Namely Zeolite, Sodium, Trupolyphosphate (Stpp) Other Detergent and Com
Parts, Plant and ach Situated At B/60 To B/65 Shri Ambika Estate, Aslali, Ahm or Else 3.
First Charge on All Book Debts, Receivables,
Claims, Bills, Claims Both Present and Future Second Charge on Plant and
Mach, Furniture and Fixtures, Computers, Printers, Situated At Plot No.
245/1, Mouje Bodak Dev, Taluka Dascroi, District Ahmedabad, or Else In Fav of
BOI Consortium |
|
Date of instrument modifying the charge |
30/03/2009 |
|
Particulars of the present modification |
Consortium Banks Have Agreed To Enhance The Fund Based and Non Fund
Based Work Cap Facilities From 750.000 millions To 1350.000 millions With
Rsnbl As New Const Mem and Thereby Revised and Modified and Increased Tot
Aggregate FB and NFB Lim Fm Rs. 750.000 millions To Rs. 1570.000 millions.
Thus First / Second and Pari Passu Joint Hypothecation Charge on All Tan
Movable Property Being Plant and Mach, Stocks of Material, Book Debts and
Other Movable Assets is Extend and Operate For Rs. 1570.000 millions W. E. F.
01.09.2010 |
Fixed Assets :
- Computer Account
- Computer Software Account
- Cycle
- Electric Fittings
- Fax Machines
- MS Tanks
- Motor Car
- Office Equipments
- Television
- Water Cooler
- Water Filter
- Furniture and Fixture
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. 49.22 |
|
|
1 |
Rs. 76.06 |
|
Euro |
1 |
Rs. 65.06 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
2 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
|
27 |
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.