MIRA
INFORM REPORT
|
Report Date : |
14.09.2011 |
IDENTIFICATION DETAILS
|
Name : |
PUNJAB AGRO JUICES LIMITED |
|
|
|
|
Registered
Office : |
Plot No.2, Sector-28 A, Madhya Marg, Chandigarh-160002 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2010 |
|
|
|
|
Date of
Incorporation : |
01.02.2006 |
|
|
|
|
Com. Reg. No.: |
53-029619 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 500.001 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U15134CH2006G0I029619 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
PTLP13019G |
|
|
|
|
PAN No.: [Permanent Account No.] |
AADCP8262D |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company. |
|
|
|
|
Line of Business
: |
Manufacturer, Importer and Supplier of Juices,
juice concentrate, pulps, paste, purees - orange, mango, apple, guava, pear,
litchi, melons, peach, plum, carrot, tomato, amla, aloevera, gour etc. |
RATING & COMMENTS
|
MIRA’s Rating : |
B (28) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 860000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow But Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a Government of Punjab owned company having moderate track.
There appears some accumulated losses recorded by the company. However, trade
relations are reported as fair. Business is active. Payments are reported to
be slow but correct. However, subject being a Government of Punjab owned 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.
ECGC Country Risk Classification List – April 1, 2010
|
Country Name |
Previous Rating (31.12.2009) |
Current Rating (01.04.2010) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
LOCATIONS
|
Registered Office : |
Plot No.2, Sector-28 A, Madhya Marg, Chandigarh-160002, India |
|
Tel. No.: |
91-172-4640060 / 4639271 |
|
Mobile No.: |
91-9216338872 (Mr. Naresh) |
|
Fax No.: |
91-172-4640070 |
|
E-Mail : |
|
|
|
|
|
Factory 1: |
Village Jahankhelan, Hoshiarpur, Una Road, Hoshiarpur, India |
|
|
|
|
Factory 2 : |
Village Alamgarh, Abohar- Ganganagar Road, Abohar-152116, Punjab,
India |
|
Tel. No.: |
91-1634-645005 |
|
Fax No.: |
91-1634-255190 |
DIRECTORS
AS ON 27.09.2010
|
Name : |
Mr. Santosh Kumar Sandhu |
|
Designation : |
Director |
|
Address : |
House No.521, Sector-16-A, Chandigarh-160015, India |
|
Date of Birth/Age : |
23.05.1959 |
|
Date of Appointment : |
05.02.2008 |
|
DIN No.: |
02067632 |
Other Directorship:
|
S.No. |
CIN |
Name
of the Company |
Current
designation of the director |
Date
of appointment at current designation |
Original
date of appointment |
Date
of cessation |
Company
Status |
Defaulting
status |
|
1 |
U45202CH1974SGC003415 |
Chandigarh
Industrial And Tourism Development Corp Limited |
Director |
06-11-04 |
06-11-04 |
10-01-08 |
Active |
|
|
2 |
U00000CH2003PLC026562 |
DLF
Info City Developers Chandigarh Limited |
Nominee
director |
14-12-04 |
14-12-04 |
21-05-08 |
Active |
NO |
|
3 |
U51219CH1966SGC002630 |
Punjab
Agro Industries Corporation Limited |
Managing
director |
17-01-08 |
17-01-08 |
06-12-10 |
Active |
NO |
|
4 |
U15134CH2006GOI029619 |
Punjab
Agro Juices Limited |
Director |
05-02-08 |
05-02-08 |
17-12-10 |
Active |
NO |
|
5 |
U51909CH1997SGC019321 |
Punjab
Agri Export Corporation Limited |
Managing
director |
27-03-08 |
27-03-08 |
20-12-10 |
Active |
NO |
|
6 |
U51229CH2002SGC025256 |
Punjab
Agro Food Grains Corporation Limited |
Managing
director |
17-06-08 |
09-05-08 |
22-12-10 |
Active |
YES |
|
7 |
U74999CH1995SGC015974 |
Punjab
State Bus Stand Management Company Limited |
Nominee
director |
20-12-10 |
20-12-10 |
17-02-11 |
Active |
YES |
|
8 |
U40109PB2010SGC033813 |
Punjab
State Power Corporation Limited |
Nominee
director |
05-05-11 |
05-05-11 |
26-07-11 |
Active |
NO |
|
9 |
U40109PB2010SGC033814 |
Punjab
State Transmission Corporation Limited |
Nominee
director |
05-05-11 |
05-05-11 |
26-07-11 |
Active |
NO |
|
Name : |
Mr. Gaganjit Kashyap |
|
Designation : |
Director |
|
Address : |
House No.1177, Sector-37-B, Chandigarh, India |
|
Date of Birth/Age : |
20.11.1955 |
|
Date of Appointment : |
01.02.2006 |
|
DIN No.: |
00146015 |
Other Directorship:
|
S.No. |
CIN |
Name
of the Company |
Current
designation of the director |
Date
of appointment at current designation |
Original
date of appointment |
Date
of cessation |
Company
Status |
Defaulting
status |
|
1 |
U15205CH1999PLC022978 |
Pagro
Foods Limited |
Nominee
director |
10-01-01 |
10-01-01 |
07-04-08 |
Active |
NO |
|
2 |
U51229CH2002SGC025256 |
Punjab
Agro Food Grains Corporation Limited |
Director |
08-07-02 |
08-07-02 |
- |
Active |
YES |
|
3 |
U00000CH2005SGC028644 |
Punjab
Agro Power Corporation Limited |
Director |
08-07-05 |
08-07-05 |
- |
Active |
NO |
|
4 |
U15134CH2006GOI029619 |
Punjab
Agro Juices Limited |
Nominee
director |
01-02-06 |
01-02-06 |
- |
Active |
NO |
|
Name : |
Mr. Nirmal Singh |
|
Designation : |
Director |
|
Address : |
House No.488, Phase 3 B 1, Sas Nagar, Mohali-160055, Punjab, India |
|
Date of Birth/Age : |
10.11.1953 |
|
Date of Appointment : |
16.12.2009 |
|
DIN No.: |
03035582 |
Other Directorship:
|
S.No. |
CIN |
Name
of the Company |
Current
designation of the director |
Date
of appointment at current designation |
Original
date of appointment |
Company
Status |
Defaulting
status |
|
1 |
U18101CH1976SGC003641 |
Punjab
State Handloom And Textiles Development Corpn Limited |
Director |
14-12-09 |
14-12-09 |
Active |
NO |
|
2 |
U51229CH2002SGC025256 |
Punjab
Agro Food Grains Corporation Limited |
Director |
16-12-09 |
16-12-09 |
Active |
YES |
|
3 |
U15134CH2006GOI029619 |
Punjab
Agro Juices Limited |
Nominee
director |
16-12-09 |
16-12-09 |
Active |
NO |
|
4 |
U51909CH1997SGC019321 |
Punjab
Agri Export Corporation Limited |
Additional
director |
19-03-10 |
19-03-10 |
Active |
NO |
|
Name : |
Mr. Krishan Gopal Sharma |
|
Designation : |
Director |
|
Address : |
House No.1503, Sector-15, Panchkula-134109, Haryana, India |
|
Date of Birth/Age : |
30.06.1954 |
|
Date of Appointment : |
23.02.2006 |
|
DIN No.: |
01509301 |
Other Directorship:
|
S.No. |
CIN |
Name
of the Company |
Current
designation of the director |
Date
of appointment at current designation |
Original
date of appointment |
Company
Status |
Defaulting
status |
|
1 |
U15134CH2006GOI029619 |
Punjab
Agro Juices Limited |
Director |
23-02-06 |
23-02-06 |
Active |
NO |
KEY EXECUTIVES
|
Name : |
Ms. Suruchi Chhabra |
|
Designation : |
Secretary |
|
Address : |
House No.1414, Sector-34 C, Chandigarh-160022, India |
|
Date of Birth/Age : |
17.02.1980 |
|
Date of Appointment : |
08.12.2008 |
|
PAN No.: |
AHHPC8210E |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 27.09.2010
|
Names of Shareholders |
No. of Shares |
|
Government of Punjab |
50000000 |
|
S. K. Sandhu, IAS |
10 |
|
Vikas Pratap, IAS |
10 |
|
Gaganjit Kashyap |
10 |
|
Hardeep Sharma |
10 |
|
Rajnish Tuli |
10 |
|
K. G Sharma |
10 |
|
Bhushan Goyal |
10 |
|
Total |
50000070 |
AS ON 27.09.2010
|
Category |
Percentage |
|
Government [Central and State] |
99.99 |
|
Directors or relatives of Directors |
0.01 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer, Importer and Supplier of Juices,
juice concentrate, pulps, paste, purees - orange, mango, apple, guava, pear,
litchi, melons, peach, plum, carrot, tomato, amla, aloevera, gour etc. |
PRODUCTION STATUS AS ON 31.03.2009
|
Particulars |
Unit |
Licensed
Capacity |
Installed
Capacity |
Actual
Production |
|
Citrus Fruit |
MT per hrs |
20 |
20 |
-- |
|
Other Fruits |
Mt per hrs |
10 |
10 |
-- |
GENERAL INFORMATION
|
Bankers : |
·
Indian Oversea Bank, Civil Lines,
Ludhiana-141001, Punjab, India |
||||||||||||||||||||||||||||||||||||
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|
||||||||||||||||||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
S. C. Dewan and Company Chartered Accountant |
|
Address : |
SCO 90, 1st Floor, Swastik Vihar, Panchkula-134109,
Haryana, Punjab |
|
|
|
|
Associates/Subsidiaries : |
-
Punjab Agro Industries Corporation Limited -
Punjab Agri Export Corporation Limited |
CAPITAL STRUCTURE
AS ON 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
50010000 |
Equity Shares |
Rs.10/- each |
Rs. 500.100 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
50000070 |
Equity Shares |
Rs.10/- each |
Rs. 500.001
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
500.001 |
500.001 |
500.001 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
0.000 |
0.000 |
0.000 |
|
|
4] (Accumulated Losses) |
(283.885) |
(167.403) |
(35.666) |
|
|
NETWORTH |
216.116 |
332.598 |
464.335 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
278.209 |
273.411 |
207.209 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
278.209 |
273.411 |
207.209 |
|
|
DEFERRED TAX LIABILITIES |
9.728 |
10.170 |
10.540 |
|
|
DEFERRED GRANTS |
77.072 |
89.525 |
98.468 |
|
|
|
|
|
|
|
|
TOTAL |
581.125 |
705.704 |
780.552 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
607.914 |
699.525 |
793.962 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
4.483
|
9.897 |
14.340 |
|
|
Sundry Debtors |
5.109
|
4.790 |
5.343 |
|
|
Cash & Bank Balances |
2.625
|
2.971 |
59.004 |
|
|
Other Current Assets |
9.658
|
20.444 |
10.192 |
|
|
Loans & Advances |
1.060
|
1.669 |
13.554 |
|
Total
Current Assets |
22.935
|
39.771 |
102.433 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
8.772
|
10.595 |
25.219 |
|
|
Other Current Liabilities |
21.093
|
23.056 |
72.319 |
|
|
Provisions |
20.652
|
0.847 |
19.325 |
|
Total
Current Liabilities |
50.517
|
34.498 |
116.863 |
|
|
Net Current Assets |
(27.582)
|
5.273 |
(14.430) |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.793 |
0.906 |
1.020 |
|
|
|
|
|
|
|
|
TOTAL |
581.125 |
705.704 |
780.552 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Operating and Other Income |
35.412 |
63.098 |
32.980 |
|
|
|
Inventories of Finished Goods |
0.726 |
0.000 |
0.000 |
|
|
|
TOTAL (A) |
36.138 |
63.098 |
32.980 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Raw Material Consumed |
0.523 |
1.097 |
0.000 |
|
|
|
Manufacturing and Operating Cost |
10.346 |
34.049 |
10.055 |
|
|
|
Employees Cost |
13.313 |
16.156 |
5.166 |
|
|
|
Administrative Expenses |
5.107 |
8.115 |
2.221 |
|
|
|
Loss on Sale of Assets |
0.432 |
0.000 |
0.000 |
|
|
|
Preliminary Expenses W/Off |
0.113 |
0.113 |
0.113 |
|
|
|
Prior Period Adjustment |
0.961 |
0.221 |
0.000 |
|
|
|
Decrease in Trial Run Stock |
1.683 |
0.051 |
0.000 |
|
|
|
TOTAL (B) |
32.478 |
59.802 |
17.555 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
3.660 |
3.296 |
15.425 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
29.467 |
29.600 |
18.879 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS)BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
(25.807) |
(26.304) |
(3.454) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
91.117 |
105.639 |
21.393 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
(116.924) |
(131.943) |
(24.847) |
|
|
|
|
|
|
|
|
|
Less |
TAX (I) |
(0.442) |
(0.206) |
10.818 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-I) (J) |
(116.482) |
(131.737) |
(35.665) |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
(322.32)
|
(208.78) |
(108.14) |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
(330.18)
|
(209.11) |
(74.34) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(18.53)
|
(17.85) |
(2.77) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.54)
|
(0.40) |
(0.05) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.57
|
0.96 |
0.72 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.45
|
1.15 |
0.88 |
LOCAL AGENCY FURTHER INFORMATION
OVEREVIEW OF COMPANY
OPERATIONS:
During the
financial year 2009-10, the Company undertook job work processing of various
fruits and vegetables like tomatoes, kinnow, aloe Vera and amla as per the
mandate given to it by the State Government.
The financial
results for the year 2009-10 are as under:
Loss before
Depreciation Rs. 24.845
Millions
Loss after
Depreciation Rs.
116.482 Millions
The Global and
Legal Advisors have been appointed by the Directorate of Disinvestment. The Directorate
of Disinvestment is in process of releasing the Preliminary Information
Memorandum and Advertisement for inviting Expressions of Interest from
prospective bidders for disinvestment with the advice of the consultants.
FORM 8
|
Corporate identity
number of the company |
U15134CH2006GOI029619 |
|
Name of the
company |
PUNJAB AGRO
JUICES LIMITED |
|
Address of the
registered office or of the principal place of business in |
Plot No.2, Sector-28 A, Madhya Marg, Chandigarh-160002, India |
|
This form is for |
Creation of
charge |
|
Type of charge |
Immovable
property Movable property
(not being pledge) |
|
Particular of
charge holder |
Indian Oversea Bank, Civil Lines, Ludhiana-141001, Punjab, India |
|
Nature of
instrument creating charge |
Letter Of
Hypothecation For Securing Machineries / Vehicles / Goods / Book Debts And DP
Note. |
|
Date of
instrument Creating the charge |
24.10.2008 |
|
Amount secured by
the charge |
Rs. 19.145
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of interest BPLR- 2% - 12% PA
with Monthly Rests Terms of repayment As Per Original
Sanction Letter Margin 25% Extent and operation of the charge 100% |
|
Short particulars
of the property charged (Including location of the property) |
Hypothecation of
Plant and Machineries, Furniture and Fixtures, misc. assets lying at factory at
Vill. Jahan Khelan Distt. Hoshiarpur unit and unit Alamgarh (Abohar) Distt
Ferozpur, mortgage of factory land and building at Vill. Jahan Khelan
District Hoshiarpur, all types of raw material, finished goods, packing
material, stock in process, book debts of Company in respect of both units at
Jahan Khelan and Alamgarh. |
FIXED ASSESTS
·
Land
·
Computer
·
Air Conditioner
·
Furniture and Fixtures
·
Office Equipments
·
Lab Equipments
·
Cycle
·
Factory Building
·
Electrical Equipments
·
Plant and Machinery
·
Refrigerator
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. 47.09 |
|
|
1 |
Rs. 74.64 |
|
Euro |
1 |
Rs. 64.42 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
-- |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
-- |
|
--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 |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
28 |
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.