MIRA
INFORM REPORT
|
Report Date : |
08.08.2012 |
IDENTIFICATION DETAILS
|
Name : |
SANJAY CHEMICALS ( |
|
|
|
|
Registered
Office : |
Unit G-1, 5th Floor, Kanmoor House Condominium 281/287, |
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|
Country : |
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|
|
|
|
Financials (as
on) : |
31.03.2011 |
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|
|
|
Date of
Incorporation : |
20.10.2000 |
|
|
|
|
Com. Reg. No.: |
11-129290 |
|
|
|
|
Capital
Investment/ Paid-up Capital: |
Rs.27.038 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U51434MH2000PTC129290 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMS27686B |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
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|
|
|
Line of Business
: |
Trader and Importer of Chemicals |
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|
|
|
No. of
Employees: |
35 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (47) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 1980000 |
|
|
|
|
Status : |
Satisfactory |
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|
|
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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|
Comments : |
Subject is an established company having satisfactory track. Trade
relations are fair. Business is active. Payments are reported to be usually
correct and as per commitments. The company can be considered normal for business dealings at usual
trade terms and conditions. |
NOTES:
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
Care |
|
Rating |
BB+ (Long Term) |
|
Rating Explanation |
This rating are considered to have moderate
risk of default regarding timely servicing of financial obligation |
|
Date |
September 2011 |
|
Rating Agency Name |
Care |
|
Rating |
A4 (Short term) |
|
Rating Explanation |
This rating are considered to have minimal
degree of safety regarding timely payment of financial obligations. Such
instrument carry high credit risk and are susceptible to default |
|
Date |
September 2011 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’’ LIST STATUS
Subject’s name is not enlisted as a defaulter in
the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
INFORMATION PARTED BY
|
Name : |
Mr. Dilip Parmar |
|
Designation : |
Director |
|
Contact No.: |
91-9821094067 |
|
Date : |
07.08.2012 |
LOCATIONS
|
Registered Office : |
Unit G-1, 5th Floor, Kanmoor House Condominium 281/287, |
|
Tel. No.: |
91-22-40361100 |
|
Mobile No.: |
91-9821094067 (Mr. Dilip Parmar) |
|
Fax No.: |
Not Available |
|
E-Mail : |
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|
Website : |
|
|
Location : |
Owned |
DIRECTORS
As on 30.09.2011
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2011
|
Names of Shareholders (Equity Shares) |
|
No. of Shares |
|
Vijayraj Parmar |
|
362525 |
|
Dilip Parmar |
|
385025 |
|
Sanjay Parmar |
|
342224 |
|
Manoj Parmar |
|
327724 |
|
Avance
Technologies Ltd (formerly VMC Software Ltd), |
|
150000 |
|
Hemendra Turakhia, Narendra Shah and Prakash Kothari |
|
30 |
|
Hemdan Ashiya,
Kishore Ashiya and Ranjitsingh Ashiya |
|
30 |
|
Jugraj Tailor and Leela Mangilal Parmar |
|
11 |
|
Parashmalji Jain, Kansingh Umardan Charan and Sohanlal
Dhanaram Prajapati |
|
30 |
|
Satish
Sanghrajka, Vagaram Keshaji Prajapati and Kishanlal Ramnarayan Joshi |
|
30 |
|
Futermal Parmar,
Sampatraj Parmar and Sunil Gosain |
|
30 |
|
Asha Parmar,
Vicky Narendra Joshi and Uma Maheshwar Rao |
|
10 |
|
Bhanumati
Prabhudas Sanghrajka |
|
1 |
|
Saroj Kiran Mehta and Kiran Mohanlalji Mehta |
|
10 |
|
Nikhil Mehta, Varun
Parmar and Yash Parmar (through father and NG Sanjay Parmar) |
|
10 |
|
Virendra Singh and Hinglasdan S. Charan |
|
10 |
|
Bharti Parmar |
|
30000 |
|
Varsha Parmar |
|
22000 |
|
Kanchan Parmar |
|
4000 |
|
Gunwati Parmar |
|
18000 |
|
Vijayraj Parmar HUF |
|
14000 |
|
Dilip Parmar HUF N.A |
|
26000 |
|
Sanjay Parmar HUF |
|
32000 |
|
Manoj Parmar HUF |
|
24000 |
|
Varun Parmar |
|
4000 |
|
Scorpio Exim Private Limited |
|
520000 |
|
Zany Share Trading Private Limited |
|
168000 |
|
Total |
|
2429700 |
|
Names of Shareholders (Preference Shares) |
|
No. of Shares |
|
Infotrek Syscom Limited – |
|
3000 |
|
Uma Maheshwar Rao |
|
1500 |
|
C. Satyanarayana Karta of C. Satyanarayana HUF |
|
10000 |
|
Ranjitsingh Ashiya HUF |
|
1650 |
|
Ranjitsingh Ashiya |
|
157 |
|
Avas Capital Market Limited – |
|
10000 |
|
Chottunsinh Rathod |
|
700 |
|
Dilip Sonigara |
|
400 |
|
Total |
|
27407 |
As on 30.09.2011
|
Category |
|
Percentage |
|
|
|
|
|
Bodies corporate |
|
34.49 |
|
Directors or relatives of directors |
|
65.51 |
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Trader and Importer of Chemicals |
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|
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Imports : |
|
|
Products : |
Chemicals |
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Countries : |
·
·
·
European Countries |
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Terms : |
|
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Selling : |
Cash/Credit (30 to 60 Days) |
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Purchasing : |
Cash/Credit (30 to 60 Days) |
GENERAL INFORMATION
|
Customers : |
Wholesalers, Retailers, End users
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No. of Employees : |
35 (Approximately) |
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Bankers : |
Development Credit Bank Limited, 601 and 602, |
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Facilities : |
Rs.
In Millions
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|
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Banking
Relations : |
-- |
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Auditors : |
|
|
Name : |
MGB and Company Chartered Accountants |
|
Address : |
MGB and Company
Chartered Accountants 101-A Jolly Bhavan NO 2 OPP Nirmala Niketan 7
New Marine Lines Churchgate Mumbai 400020 |
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Pan No.: |
AAAFM5742R |
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|
|
|
Related Party: |
· Scorpio Exim Pvt Limited, · Zany Share Trading Private Limited |
CAPITAL STRUCTURE
As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2550000 |
Equity Share |
Rs.10/- each |
Rs.25.500 Millions |
|
45000 |
Preferences Shares |
Rs.100/- each |
Rs.4.500 Millions |
|
|
Total |
|
Rs.30.000 MIllion |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2429700 |
Equity Share |
Rs.10/- each |
Rs.24.297
Millions |
|
27407 |
Preferences Shares |
Rs.100/-
each |
Rs. 2.741
Millions |
|
|
Total |
|
Rs.27.038 Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
27.038 |
17.458 |
17.458 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
468.812 |
210.580 |
194.289 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
495.850 |
228.038 |
211.747 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
79.477 |
0.927 |
46.571 |
|
|
2] Unsecured Loans |
51.056 |
239.387 |
64.213 |
|
|
TOTAL BORROWING |
130.533 |
240.314 |
110.784 |
|
|
DEFERRED TAX LIABILITIES |
0.441 |
0.446 |
0.048 |
|
|
|
|
|
|
|
|
TOTAL |
626.824 |
468.798 |
322.579 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
4.834 |
4.285 |
4.480 |
|
|
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 |
375.604
|
323.512
|
226.737
|
|
|
Sundry Debtors |
1629.846
|
1337.771
|
667.486
|
|
|
Cash & Bank Balances |
188.061
|
98.840
|
138.235
|
|
|
Other Current Assets |
0.000
|
0.000
|
0.000
|
|
|
Loans & Advances |
73.017
|
65.348
|
28.718
|
|
Total
Current Assets |
2266.528
|
1825.471 |
1061.176 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
1602.808
|
1334.480
|
487.306
|
|
|
Other Current Liabilities |
11.426
|
6.902
|
240.680
|
|
|
Provisions |
30.304
|
19.576
|
15.091
|
|
Total
Current Liabilities |
1644.538
|
1360.958 |
743.077 |
|
|
Net Current Assets |
621.990
|
464.513 |
318.099 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
626.824 |
468.798 |
322.579 |
|
PROFIT & LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
5323.321 |
4415.638 |
2713.357 |
|
|
|
Other Income |
NA |
14.101 |
9.165 |
|
|
|
TOTAL (A) |
NA |
4429.739 |
2722.522 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
|
|
4293.497 |
2602.614 |
|
|
|
Personal Cost |
|
6.847 |
4.872 |
|
|
|
Administrative and Other Expenses |
|
76.719 |
73.262 |
|
|
|
TOTAL (B) |
NA |
4377.063 |
2680.748 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
NA |
52.676 |
41.774 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
NA |
26.564 |
23.378 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
44.042 |
26.112 |
18.396 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
0.734 |
0.640 |
0.541 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
43.308 |
25.472 |
17.855 |
|
|
|
|
|
|
|
|
|
Less |
TAX (I) |
14.996 |
9.182 |
6.410 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-I) (J) |
28.312 |
16.290 |
11.445 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
43.822 |
27.532 |
16.087 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
72.134 |
43.822 |
27.532 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
NA |
8.742 |
161.227 |
|
|
TOTAL EARNINGS |
|
|
|
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
NA |
1019.608 |
625.880 |
|
|
TOTAL IMPORTS |
|
|
|
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
15.14 |
11.07 |
7.81 |
|
%20PRIVATE%20LIMITED%20-%20189697%2008-Aug-2012_files/image001.gif){kind=small}
|
Particulars |
|
|
31.03.2012 |
|
Sales Turnover (Approximately) |
|
|
More than 5300 |
|
|
|
|
|
Expected Sales (2012-2013): Rs. more than 6000 Millions
The above information has been parted by Mr. Dilip Parmar
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
NA
|
0.38
|
0.42
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
0.81
|
0.58
|
0.66
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.91
|
1.39
|
1.68
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.09
|
0.11
|
0.08
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
3.60
|
7.02
|
4.03
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.38
|
1.34
|
1.43
|
LOCAL AGENCY FURTHER INFORMATION
|
Available
in Report [Yes/No] |
|
|
Year
of Establishment |
Yes |
|
Locality
of the Firm |
Yes |
|
Constitution
of the firm |
Yes |
|
Premises
details |
No |
|
Type
of Business |
Yes |
|
Line
of Business |
Yes |
|
Promoters
background |
Yes |
|
No.
of Employees |
Yes |
|
Name
of Person Contacted |
Yes |
|
Designation
of contact person |
Yes |
|
Turnover
of firm for last three years |
Yes |
|
Profitability
for last three years |
Yes |
|
Reasons
for variation <> 20% |
- |
|
Estimation
for coming financial year |
Yes |
|
Capital
the business |
Yes |
|
Details
of sister concerns |
Yes |
|
Major
Suppliers |
No |
|
Major
Customers |
No |
|
Payment
Terms |
Yes |
|
Export
/ Import Details [If Applicable] |
Yes |
|
Market
Information |
- |
|
Litigations
that the firm / promoter involved in |
- |
|
Banking
Details |
Yes |
|
Banking
Facility Details |
Yes |
|
Conduct
of the banking account |
- |
|
Buyer
visit details |
- |
|
Financials,
if provided |
Yes |
|
Incorporation
details, if applicable |
Yes |
|
Last
accounts filed at ROC |
Yes |
|
Major
Shareholders, if applicable |
Yes |
|
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
PAN
of Proprietor/Partner/Director, if available |
No |
|
Voter
ID No of Proprietor/Partner/Director, if available |
No |
|
External Agency
Rating, if available |
Yes |
PERFORMANCE
The Company’s Turnover during the year has increased to
Rs.5324.558 Millions as compared to previous years Rs. 4416.198 Millions. The
Net Profit after tax during the year has also increased to Rs. 28.312 Millions
as compared to previous years Rs. 16.290 Millions
SUNDRY CREDITORS DETAIL
(Rs. In Millions )
|
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
Sundry creditors |
1602.808
|
1334.480
|
487.306
|
|
|
|
|
|
FORM 8
|
Corporate
identity number of the company |
U51434MH2000PTC129290 |
|
Name of the
company |
SANJAY CHEMICALS ( |
|
Address of the
registered office or of the principal place of business in |
507, |
|
This form is for |
Modification of
charge |
|
Charge
identification number of the modified |
10211615 |
|
Type of charge |
Book Debts Movable Property |
|
Particular of
charge holder |
Development Credit Bank Limited, 601 and 602, Email: vijaykurankar@dcbbank.com
|
|
Nature of
description of the instrument creating or modifying the charge |
Second
Supplemental Joint Deed of Hypothecation dt. 15.06.2012 Facilities
sanctioned by Rs. in Millions DCB Rs. 255.000 OBC Rs 408.800 ICICI Bank Rs. 470.000 UBI Rs 300.000 Citi Bank Rs 170.000 Total Rs.1603.800 |
|
Date of
instrument Creating the charge |
15.06.2012 |
|
Amount secured by
the charge |
Rs.1603.800
Millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of interest As per Details of Charge Holders Term
of Payment: As per Details of Charge Holders Margin As per Details of
Charge Holders Extent and
operation of the charge The Charge is operative and modified for
Rs.16038.00 Lacs. By consent of all the Parties, viz., Development Credit
Bank Ltd. and ICICI Bank Ltd. and Oriental Bank of Commerce and Union Bank of
Others: N.A |
|
Short particulars
of the property charged |
FIRST PARI-PASSU
CHARGE ON: The whole of the
Current Assets of the Borrower namely, Stocks of Raw Materials, Stocks in
Process, Semi-Finished & Finished Goods, Stores & Spares not relating
to Plant and Machinery (Consumable Stores and Spares), Bills Receivable and
Book Debts and all other movables, both present & future whether now
lying loose or in cases or which are now ying loose or in cases or which are now lying or stored in or about or
shall hereinafter from time to time during the continuance of the security of
these presents be brought into or upon or be stored or be in or about of the
Borrowers factories, premises & godowns situate at Mumbai and / or any
where in India or wherever else the same may be or be held by any party to
the order of disposition of the borrower or in the course of transit or on
high seas or on order, or delivery , howsoever & where so ever in the
possession of the Borrower and either by way of substitution or addition. |
|
Date of last
modification prior to the present modification |
10.02.2011 |
|
Particulars of
the present modification |
By this present modification,
the total charge gets enhanced to Rs.1603.800 Millions as detailed below:- Rs. in Millions DCB Rs. 255.000 OBC Rs 408.800 ICICI Bank Rs. 470.000 UBI Rs 300.000 Citi Bank Rs 170.000 Total Rs.1603.800 |
CONTINGENT
LIABILITIES NOT PROVIDED FOR:
Rs.in Millions
|
Particular |
31.03.2011 |
|
Unexpired
Letters’ of Credit |
287.862 |
|
Inland Bills LC |
28.933 |
|
Bank Guarantees |
2.020 |
|
Bond For Custom
Duty |
5.512 |
|
Disputed Direct
Tax |
2.147 |
|
Disputed Indirect
Tax* |
24.697 |
* Out of the above Rs. 2.100 Millions has been paid under
protest which is included in
FIXED
ASSETS
·
Land and Building
·
Office premises
·
Office equipments
·
Air conditioners
·
Furniture and fixtures
·
Vehicles
·
Computers
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.55.50 |
|
|
1 |
Rs.86.40 |
|
Euro |
1 |
Rs.68.70 |
INFORMATION DETAILS
|
Information
Gathered by : |
JML |
|
|
|
|
Report Prepared
by : |
BYI |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--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 |
|
47 |
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.