MIRA
INFORM REPORT
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Report Date : |
27.09.2011 |
IDENTIFICATION DETAILS
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Name : |
ACER INDIA PRIVATE LIMITED |
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Registered Office : |
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Country : |
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Financials (as on) : |
31.03.2010 |
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Date of Incorporation : |
09.09.1999 |
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Com. Reg. No.: |
08-25698 |
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CIN No.: [Company
Identification No.] |
U31909KA1999PTC025698 |
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IEC No.: |
0799008966 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
BLRA01844D |
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Legal Form : |
Private limited liability company. Wholly owned subsidiary
of Acer Computer International, |
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Line of Business : |
Manufacturer and Trader of Computer System Peripherals. |
RATING & COMMENTS
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MIRA’s Rating : |
Ba (49) |
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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 3000000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
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Comments : |
Subject is a well established company having satisfactory track. Financial position of the company appears to be good. Trade relations are reported as fair. Business is active. Payments are reported to be usually correct and as per commitments. The company can be considered good for normal 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
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Country Name |
Previous Rating (31.12.2009) |
Current Rating (01.04.2010) |
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A1 |
A1 |
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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 |
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INFORMATION PARTED BY
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Name : |
Mr. Shah |
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Designation : |
Accountant |
LOCATIONS
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Registered Office : |
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Tel. No.: |
91-80-25219520 / 25219521 / 25219523 / 40708700 |
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Fax No.: |
91-80-25219535 |
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E-Mail : |
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Website : |
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Area : |
5000 sq. ft. |
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Locations : |
Rented |
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Factory : |
RS No. 132/4, Ramanathapuram Village, Villianur Commune, Pondicherry – 605502, Tamilnadu, India Tel. No. 91-413-2666994 |
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Area : |
16000 sq. ft. |
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Locations : |
Leased |
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Branch 1 : |
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Address : |
No.873, 2nd Floor, 80 Feet Road, Indiranagar 1st Stage, Next to Krishna Temple, Bangalore – 560075, Karnataka, India |
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Tel No.: |
91-80- 25210211 / 14. |
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Fax No.: |
91-80-25219536. |
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Branch 2 : |
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Address : |
Ground Floor, B-28,
Okhla Phase - I, |
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Tel No.: |
91-11-40568000 / 40568001 / 2. |
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Fax No.: |
91-11-40568030 |
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Branch 3 : |
Mumbai |
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Address : |
# GR2, D Wing, Ground Floor, Remi Biz Court, Plot # 9, Shah Industrial Estate, Andheri (West), Mumbai - 400 058, Maharashtra, India |
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Tel No.: |
91-22-40738600 / 40738700 . |
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Fax No.: |
91-22-56975220. |
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Branch 4 : |
Chennai |
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Address : |
No.5 (Old No.3), 2nd
Floor,1st Street, Nandanam Extension, Chennai - 600 035, Tamil Nadu, |
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Tel No.: |
91-44 39408700 |
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Branch 5 : |
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Address : |
# 718, Swapnalok, 7th
Floor, |
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Tel No.: |
91-40-39408700 / 39156802. |
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Fax No.: |
91-40-27891764 |
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Branch 6 : |
Kolkatta |
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Address : |
Ground Floor, P 540, Opp. Thyagaraja Hall, Near Lake Kalibari, Raja Basanta Roy Road, Kolkata - 700 029, West Bengal, India |
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Tel No.: |
91-33-24669391 / 24669399 |
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Branch 7 : |
Guwahati |
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Address : |
No.303, 3rd floor,
Orion tower, G.S.Tower, Christian Basti, Guwahati - 781 005, |
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Tel No.: |
91-361-2344556 / 2345459 |
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Fax No.: |
91-361-2344559. |
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Branch 8 : |
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Address : |
C/o R.K.Business
Centre, No.194, |
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Tel No.: |
91-712-2535215 / 2547295 / 2560761 |
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Fax No.: |
91-33-2528923 |
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Branch 9 : |
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Address : |
Mayur Business Centre,
Pulleppady Jn., |
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Tel No.: |
91-484-2360915 / 2360462 / 2360463 / 2360464 |
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Fax No.: |
91-484-2354262 |
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Branch 10 : |
Ahmedabad |
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Address : |
406-407, |
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Tel No.: |
91-79-39408700 |
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Fax No.: |
91-79-30171312 |
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Branch 11 : |
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Address : |
SCO 58-59,
Level-3,Sector 34-A, |
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Tel No.: |
91-172-3029501 / 505 |
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Branch 12 : |
Pune |
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Address : |
# 1194/17, Ace House, 1st floor, Behind Levis Showroom, J. M. Road, Above Blue Dart office, Shivajinagar, Pune-411 005, Maharashtra, India |
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Tel No.: |
91-20–32316580 / 81 |
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Branch 13 : |
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Address : |
Dhan Nirman complex, Cabin No - 3, IInd Floor, 15, Ashok Marg, Lucknow – 226001, Uttar Pradesh, India |
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Tel No.: |
91-522-2287062 / 4000899 |
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Global Office : |
· Acer Inc. 21 F, 88, Tel. No. : 886-2-2696-1234 Fax No. : 886-2-2696-1777 Email : AlWebmaster@acer.com.tw Website : http://www.acer.com ·
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Middle East and ·
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DIRECTORS
As on 20.09.2009
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Name : |
Mr. Mukund Walwekar |
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Designation : |
Managing Director |
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Address : |
372, 43rd Cross, 9th Main, 5th
Block, Jayanagar, |
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Date of Birth/Age : |
31.10.1955 |
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Qualification : |
B.E., PGDM |
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Date of Appointment : |
04.12.2000 |
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Name : |
Mr. Steve Lin |
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Designation : |
Director |
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Address : |
A 71, Menara Inhah, Jallang Taman TVN, Abdul Razak – 68000,
Ampung, |
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Date of Birth/Age : |
26.09.1954 |
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Date of Appointment : |
20.12.2002 |
KEY EXECUTIVES
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Name : |
Mr. Narayana Raju S. |
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Designation : |
Company Secretary |
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Address : |
197/8, 9th Cross, 2nd Block, jay Anagar,
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Date of Birth/Age : |
15.10.1969 |
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Date of Appointment : |
20.12.2002 |
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Name : |
Mr. Shah |
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Designation : |
Accountant |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 20.09.2009
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Names of Shareholders |
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No. of Shares |
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Acer Holdings International Inc, |
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78803761 |
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Acer Computer (ME) Limited, UAE |
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3 |
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Total |
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78803764 |
As on 20.09.2009
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Category |
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Percentage |
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Foreign holding (Foreign institutional investor(s), Foreign
Companie(s) Foreign financial institutional(s), Non-resident indian(s) or
Overseas corporate bodies or other) |
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100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Trader of Computer System Peripherals. |
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Products : |
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Brand Names : |
“ACER” |
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Exports : |
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Products : |
Computer Products |
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Countries : |
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Imports : |
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Products : |
Raw Material |
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Countries : |
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Terms : |
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Selling : |
Cash and Credit |
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Purchasing : |
Cash and Credit |
PRODUCTION STATUS (As on 31.03.2010)
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Particulars |
Unit |
Actual
Production |
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Computers |
Nos. |
333619 |
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Servers |
Nos. |
1755 |
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Notebooks |
Nos. |
10423 |
GENERAL INFORMATION
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Suppliers : |
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Customers : |
Wholesalers, End Users and Original Equipment Manufacturers · Infosys · Hindustan Lever Limited |
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No. of Employees : |
Around 200 |
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Bankers : |
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Banking
Relations : |
- |
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Auditors : |
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Name : |
BSR
and Associates Chartered Accountants |
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Address : |
Maruti Infotech Centre, Inner Ring Road, 11/1 and 12/1, East Wing, II
Floor, Koramangala, Bangalore – 560 071, Karnataka, India |
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Tel. No.: |
91-80-39806000 |
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Fax No.: |
91-80-39806999 |
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Holding Company: |
Acer Holdings International Inc |
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Ultimate Holding Company: |
Acer
Computers (ME) Limited, |
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Associates/Subsidiaries : |
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CAPITAL STRUCTURE
As on 30.03.2009
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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127500000 |
Equity Shares |
Re.1/ each |
Rs.127.500 millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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78803764 |
Equity Shares |
Re.1/ each |
Rs.78.803 millions |
NOTE:
Of the above 78,803,761 equity shares are held
by Acer Holdings International Inc, British Virgin Island, the company’s
holding company, Acer Inc, the ultimate holding company holds all the shares
through its subsidiaries.
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
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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 |
78.803 |
78.803 |
78.803 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
661.432 |
513.802 |
353.044 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
740.235 |
592.605 |
431.847 |
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LOAN FUNDS |
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1] Secured Loans |
0.000 |
0.000 |
0.000 |
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2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
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TOTAL BORROWING |
0.000 |
0.000 |
0.000 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
740.235 |
592.605 |
431.847 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
6.595 |
9.745 |
12.225 |
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Capital work-in-progress |
0.000 |
0.000 |
0.885 |
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INVESTMENT |
0.000 |
0.000 |
0.000 |
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DEFERREX TAX ASSETS |
43.731 |
23.994 |
35.466 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
2027.595
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393.891 |
794.298 |
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Sundry Debtors |
2768.613
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1744.844 |
1499.155 |
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Cash & Bank Balances |
305.836
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124.355 |
200.328 |
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Other Current Assets |
0.000 |
0.000 |
0.000 |
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Loans & Advances |
567.239
|
397.827 |
333.785 |
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Total
Current Assets |
5669.283
|
2660.917 |
2827.566 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditors |
4497.274
|
1748.583 |
2010.606 |
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Other Current Liabilities |
196.808
|
109.155 |
158.990 |
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Provisions |
285.292
|
244.313 |
274.699 |
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Total
Current Liabilities |
4979.374
|
2102.051 |
2444.295 |
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Net Current Assets |
6899.909
|
558.866 |
383.271 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
740.235 |
592.605 |
431.847 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
|
31.03.2010 |
31.03.2009 |
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SALES |
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Income |
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Service Income |
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Other Income |
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TOTAL |
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16819.267 |
11863.933 |
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Less |
EXPENSES |
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TOTAL |
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16594.174 |
11648.396 |
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PROFIT BEFORE
TAX |
|
225.093 |
215.537 |
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Less |
TAX |
|
77.463 |
54.780 |
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PROFIT AFTER TAX
|
|
147.630 |
160.757 |
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EARNINGS IN
FOREIGN CURRENCY |
|
101.013 |
106.212 |
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IMPORTS |
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Raw Materials |
|
5431.731 |
2702.440 |
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Traded goods |
|
10367.358 |
6233.098 |
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Stores & Spares |
|
70.500 |
145.548 |
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Fixed Assets |
|
0.000 |
0.553 |
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TOTAL IMPORTS |
|
15869.589 |
9081.639 |
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Earnings Per
Share (Rs.) |
|
1.87 |
2.04 |
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KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
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PAT / Total Income |
(%) |
0.88
|
1.36 |
-- |
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Return on Total Assets (PBT/Total Assets} |
(%) |
3.97
|
7.59 |
-- |
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Return on Investment (ROI) (PBT/Networth) |
|
0.10
|
0.36 |
-- |
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Debt Equity Ratio (Total Liability/Networth) |
|
6.73
|
3.55 |
5.66
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Current Ratio (Current Asset/Current Liability) |
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1.14
|
1.27 |
1.16
|
LOCAL AGENCY FURTHER INFORMATION
NOTE:
The Registered office of the company has been shifted from
“George Thangiah Complex,
OPERATIONS
The
Company has completed its tenth full year of operations. The Company has made a
profit of Rs.147.630 millions.
The
Company achieved turnover of Rs.16663.096
millions (excluding Excise Duty), earned a Service income of
Rs.72.728 millions and other income of Rs.83.443 millions.
Background:
Subject
was incorporated on 9 September 1999, as
a Private Limited Company under the Companies Act, 1956 ('the Act'). The
Company is a subsidiary of Acer Holdings International Inc,
Form 8:
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Name of the company |
ACER INDIA PRIVATE LIMITED |
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Presented By |
Standard Chartered Bank 26/27, M |
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1) Date and description of instrument creating the change |
Agreement of Hypothecation
of Stocks and Book Debts Dated 29.11.2000 |
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2) Amount secured by the charge/amount owing on the securities of charge |
Rs.70.000
Millions |
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3) Short particular of the property charged. If the property acquired is subject to charge, date of the acquired of the property should be given |
Hypothecation of
Raw Materials, Work in Progress, Finished Goods, Stores, Spares and Other
current assets, present and future (Stored or to be stored) and book debts
present and future belonging to the company. |
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4) Gist of the terms and conditions and extent and operation of the charge. |
The charge
operated on a pari Passu charge eithout any preference or priority of one
bank over the other in respect of the bills discounting facility provided to
the company, interests at market related quotes. |
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5) Name and Address and description of the person entitled to the charge. |
Standard Chartered Bank 26/27, M |
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6) Date and brief description of instrument modifying the charge |
30.01.2006 Supplementary Hypothecation Agreement of Stocks/ Book Debts Dated 30.01.2006 for Rs.150.000 Millions In Favour of Standard Chartered Bank |
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7) Particulars of modifications specifying the terms and conditions or the extent of operations of the charge in which modification is made and the details of the modification. |
Total Limits
modified/enhanced from Rs.150.000 Millions (Bills, Invoice,
Discounting/ OD/ WC Loan/ Discrepant documents/ partial recourse facility to
business partners/ LC Rs.50.000 Millions Guarantee Rs.100.000 Millions) |
|
This form is for |
Modification of
charge |
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Charge
identification number of the modified |
90200738 |
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Corporate
identity number of the company |
U31909KA1999PTC025698 |
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Name of the
company |
ACER INDIA PRIVATE LIMITED |
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Address of the
registered office or of the principal place of business in |
1st
Floor, George Thangaiah Complex (East), |
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Type of charge |
Book Debts Others All Current
Assets ( present and future ) |
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Particular of
charge holder |
The Hongkong and Shanghai Banking Corporation Limited, 7 M
G Roda, |
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Nature of description
of the instrument creating or modifying the charge |
Sixth
Supplemental Agreement for Rs.430.000 millions |
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Date of
instrument Creating the charge |
25.05.2007 |
|
Amount secured by
the charge |
Rs.430.000
millions |
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Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest Interest shall be
payable by the company on the banking facilities as per bank's tariff,
subject however that the Bank shall have the right to change the rate of
interest after giving notice to the Company. Terms of
Repayment In consideration
of banking facilities sanctioned / to be sanctioned by the bank to the
company, the company has hypothecated and charged to the bank by way of First
charge as a continuing security, the assets mentioned in the deed of
hypothecation to secure the repayments of the advances together with interest
cost and all other charges Margin The company shall
maintain such margin as may be specified by the bank from time to time. Extent and
Operation of the charge In case the
company fails to fulfill its obligations under the agreement, the bank shall
be entitled to take possession of the hypothecated properties and sell them
by public auction or private contract and utilize the proceeds in full or
part settlement of its claims |
|
Short particulars
of the property charged |
Acer India
Private Limited RS No. 132/4,
Villianur Con\mmunue for Stocks |
|
Date of latest modification
prior to the present modification |
28.09.2005 |
|
Particulars of
the present modification |
At the request of
the company, HSBC has agreed to increase the maximum limit of the said
facilities from Rs.330.000 millions to Rs.430.000 millions. in the manner and
on the terms and conditions hereinafter contained. |
FIXED ASSETS:
- Leasehold Improvements
- Plant and Machinery
- Computer Equipment
- Office Equipment
- Furniture and Fixtures
- Vehicles
WEBSITE DETAILS
Since its founding in 1976, Acer has
achieved the goal of breaking the barriers between people and technology.
Globally, Acer ranks No. 2 for total PCs and notebooks. A profitable and
sustainable Channel Business Model is instrumental to the company's continuing
growth, while its multi-brand approach effectively integrates Acer, Gateway,
Packard Bell, and eMachines brands in worldwide markets.
Subject strives to design
environmentally friendly products and establish a green supply chain through
collaboration with suppliers. Subject is proud to be a Worldwide Partner of the
Olympic Movement, including the Vancouver 2010 Olympic Winter and London 2012
Olympic Games.
Over 30 years of making history in
the fast-paced IT industry, Subject’s far-reaching strategy of focusing on R
and D and marketing development has laid the foundations and created a company
ready to embrace the challenges of the future. The Acer Group employs 8,000
people worldwide. Estimated revenues for 2010 reached US$19.9 billion.
976-1986: Commercialize
microprocessor technology
Subject's founder, Stan Shih, has
always been passionate about sharing knowledge as a way of contributing to
society. Acer actively engaged in teaching others about microprocessor
technology, and promoting computer usage in everyday life. At this time, the
company established its manufacturing operations, and played a significant role
to popularizing the use of computers in
1987-2000: Create a brand name and
globalize
In 1987, Multitech formally became
known as Acer, marking the start of Subject's efforts toward creating a strong
brand name. During this second ten-year stage of development, Acer grew
extensively and expanded its strategic and geographic footprint to become one
of the world's top ten PC vendors. Priority was placed on delivering the
freshest, most affordable technology to benefit consumers worldwide.
2001-2007: Transform from
manufacturing to services
Subject evolved from a manufacturing
powerhouse to a globally-recognized computer brand, providing world-class IT
products and services. Subject's unique Channel Business Model enabled the
company to achieve sustainable worldwide growth. The model offers flexibility
to adapt to changing global IT market trends, involves collaborating with the
industry's top-tier partners and suppliers, while minimizing operating expense
and enhancing profitability. In 2007, Subject ranked as the world's No. 3 PC
vendor.
2008-beyond: Enhance worldwide
presence with a new multi-brand strategy
With the successful completion of
the mergers of Gateway and Packard Bell, Subject seeks to further strengthen
its global footprint with a new multi-brand strategy and solid partnerships. As
the world’s No. 2 PC company, Subject now sets its sight on becoming the No. 1
notebook maker as well as leadership in the mobile device market. Furthermore,
Subject is taking bold strides to expand its presence in
PRESS RELEASE
21 Sep 2011
Lilia Wang to
Act as Acer CFO; Che-min Tu Appointed Special Assistant to the Chairman
Acer
Inc.’s chief financial officer (CFO), Che-min Tu, shall transfer to the
position of special assistant to the chairman, while Acer global controller and
EMEA CFO, Lilia Wang, shall act as CFO.
Due
to health reasons, Tu will be released from the position of Acer CFO. In his
new role, Tu shall be responsible for the planning and implementation of
projects assigned by Acer chairman. Meanwhile, the company will begin search
for a new CFO candidate and hopes to complete the recruitment over the next
four months.
Considering the overall needs of Acer’s financial unit, including organizational management and personnel planning, Wang has been chosen as acting CFO. Earlier this month, she was appointed to serve as Acer EMEA CFO, concurrent to her role of global controller. Wang has accumulated more than 25 years at Acer.
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.49.18 |
|
|
1 |
Rs.76.65 |
|
Euro |
1 |
Rs.66.63 |
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 |
5 |
|
--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 |
|
49 |
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 |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.