|
Report Date : |
24.08.2012 |
IDENTIFICATION DETAILS
|
Name : |
POLYNATE FOAMS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
No. 102, Kadaregere Cross, Magadi Main Road, Dasanapura Hobli, Bangalore – 560091, Karnataka |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
05.09.1985 |
|
|
|
|
Com. Reg. No.: |
08-007131 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.0.764 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24130KA1985PTC007131 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
BLRP01718D BLRP00379B |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Rigid Polyurethane Foams. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (29) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 14000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having moderate track. The financial
position of the company appears to be weak. It is performing slowly but
steadily. It has achieved very minimal profits during 2011. Trade relations are
reported as fair. Business is active. Payments are reported to be slow. The company can be considered for small to mediocre 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 – June 30, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
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.
LOCATIONS
|
Registered Office / Factory 1 : |
No. 102, Kadaregere Cross, Magadi Main Road, Dasanapura Hobli, Bangalore – 560091, Karnataka, India |
|
Tel. No.: |
91-80-64560128 |
|
Fax No.: |
91-80-28536542 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Factory 2 : |
# 120/1,10TH Cross, Pete Chennappa
Industrial Estate, Kamashipalaya, Bangalore -
560079, Karnataka, India |
|
Tel. No.: |
91-80-23489097 |
|
Fax No.: |
91-80-23489097 |
|
E-Mail : |
DIRECTORS
As on 30.09.2011
|
Name : |
Mr. Balakrishnan Uppath |
|
Designation : |
Director |
|
Address : |
102, 1st Floor, Raj Merdian No.99G, 20th Main, 2nd
Cross, KHB Colony, Bangalore - 560095,
Karnataka, India |
|
Date of Birth/Age : |
19.03.1964 |
|
Date of Appointment : |
30.09.1995 |
|
DIN No.: |
00391451 |
Other Directorship:
|
S.No. |
CIN/LLPIN |
Name
of the Company/ LLP |
Current
designation of the Director/ Designated Partner |
Date
of appointment at current designation |
Original
date of appointment |
Date
of cessation |
Company/
LLP Status |
Defaulting
status |
|
1 |
U52334KA1994PLC015169 |
RINAC
INDIA LIMITED |
Whole-time
director |
31/01/1994 |
31/01/1994 |
31/01/2008 |
Active |
NO |
|
2 |
U24130KA1985PTC007131 |
POLYNATE
FOAMS PRIVATE LIMITED |
Director |
30/09/1995 |
30/09/1995 |
- |
Active |
NO |
|
3 |
U24297KA2008PTC048015 |
ISO
FLEX SYSTEMS PRIVATE LIMITED |
Director |
15/10/2008 |
15/10/2008 |
- |
Active |
NO |
|
Name : |
Mr. Haridas Uppath |
|
Designation : |
Director |
|
Address : |
361, Shantham, Dr. Ambedkar
College Road, KB Sandra, RT Nagar, Bangalore –
560032, Karnataka, India |
|
Date of Birth/Age : |
23.10.1950 |
|
Date of Appointment : |
05.09.1985 |
|
DIN No.: |
00352475 |
Other Directorship:
|
S.No. |
CIN/LLPIN |
Name
of the Company/ LLP |
Current
designation of the Director/ Designated Partner |
Date
of appointment at current designation |
Original
date of appointment |
Date
of cessation |
Company/
LLP Status |
Defaulting
status |
|
1 |
U24130KA1985PTC007131 |
POLYNATE
FOAMS PRIVATE LIMITED |
Director |
05/09/1985 |
05/09/1985 |
- |
Active |
NO |
|
2 |
U29191KA1990PTC011008 |
MODULAR
COLD ROOMS PRIVATE LIMITED |
Director |
19/06/1990 |
19/06/1990 |
- |
Active |
NO |
|
3 |
U52334KA1994PLC015169 |
RINAC
INDIA LIMITED |
Managing
director |
31/01/1994 |
31/01/1994 |
31/01/2008 |
Active |
NO |
|
4 |
U24297KA2008PTC048015 |
ISO
FLEX SYSTEMS PRIVATE LIMITED |
Director |
15/10/2008 |
15/10/2008 |
- |
Active |
NO |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
|
|
|
|
Balakrishnan Uppath |
|
2175 |
|
Maya Balakrishnan |
|
372 |
|
Haridas Uppath |
|
2013 |
|
Shantha Haridas |
|
532 |
|
Sukumaran Parakkel |
|
2345 |
|
Sudha Sukumaran |
|
200 |
|
Total |
|
7637 |
As on 30.09.2011
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Directors or relatives of Directors |
66.68 |
|
Other top fifty shareholders |
33.32 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Rigid Polyurethane Foams. |
||||
|
|
|
||||
|
Products : |
|
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
||||||||||||||||||
|
|
|
||||||||||||||||||
|
Bankers : |
State Bank of
India, SME City Credit Centre, # 20, Badaga Nadu Sangha Building, Kumara
Park, Bangalore - 560020, Karnataka, India |
||||||||||||||||||
|
|
|
||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Vishnu Ram and Company Chartered Accountants |
|
Address : |
No. 12, II Floor, Sri Siddhi Plaza, Margosa Road, Malleswaram,
Bangalore – 560003, Karnataka, India |
|
Tel. No.: |
91-80-23568910 |
|
Fax No.: |
91-80-23568916 |
|
E-mail id : |
|
|
PAN No.: |
AAGPV2924A |
CAPITAL STRUCTURE
As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000 |
Equity Shares |
Rs.100/- each |
Rs.1.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
7637 |
Equity Shares |
Rs.100/- each |
Rs.0.764 Million |
|
|
|
|
|
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 |
0.764 |
0.764 |
0.764 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
2.805 |
1.455 |
2.687 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
3.569 |
2.219 |
3.451 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
3.273 |
4.385 |
3.198 |
|
|
2] Unsecured Loans |
1.337 |
1.190 |
0.375 |
|
|
TOTAL BORROWING |
4.610 |
5.575 |
3.573 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.022 |
|
|
|
|
|
|
|
|
TOTAL |
8.179 |
7.794 |
7.046 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
4.551 |
4.995 |
4.451 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.061 |
0.061 |
0.061 |
|
|
DEFERREX TAX ASSETS |
0.213 |
0.369 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
0.843
|
1.815 |
1.084 |
|
|
Sundry Debtors |
4.854
|
2.690 |
3.983 |
|
|
Cash & Bank Balances |
0.011
|
0.011 |
0.016 |
|
|
Other Current Assets |
0.672
|
0.520 |
0.526 |
|
|
Loans & Advances |
1.014
|
0.755 |
0.809 |
|
Total
Current Assets |
7.394
|
5.791 |
6.418 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
2.159
|
2.832 |
3.072 |
|
|
Other Current Liabilities |
1.271
|
0.496 |
0.718 |
|
|
Provisions |
0.610
|
0.094 |
0.094 |
|
Total
Current Liabilities |
4.040
|
3.422 |
3.884 |
|
|
Net Current Assets |
3.354
|
2.369 |
2.534 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
8.179 |
7.794 |
7.046 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
30.556 |
10.155 |
16.556 |
|
|
|
Other Income |
0.000 |
0.000 |
0.046 |
|
|
|
TOTAL (A) |
30.556 |
10.155 |
16.602 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
26.578 |
10.055 |
15.187 |
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL (B) |
26.578 |
10.055 |
15.187 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
3.978 |
0.100 |
1.415 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
0.811 |
0.553 |
0.560 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
3.167 |
(0.453) |
0.855 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
1.051 |
1.170 |
0.721 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
2.116 |
(1.623) |
0.134 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
0.766 |
(0.391) |
0.114 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
1.350 |
(1.232) |
0.020 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
1.428 |
2.660 |
2.640 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
2.778 |
1.428 |
2.660 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
176.71 |
(161.35) |
2.67 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
4.42
|
(12.13) |
0.12 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
6.92
|
(15.98) |
0.81 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
17.71
|
15.05 |
1.23 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.59
|
(0.73) |
0.04 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
2.42
|
4.05 |
2.16 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.83
|
1.69 |
1.65 |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info Agents |
Available in
Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
No |
|
9] |
Name of person contacted |
No |
|
10] |
Designation of contact
person |
No |
|
11] |
Turnover of firm for last
three years |
Yes |
|
12] |
Profitability for last
three years |
Yes |
|
13] |
Reasons for variation
<> 20% |
-- |
|
14] |
Estimation for coming
financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
No |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details
(if applicable) |
No |
|
21] |
Market information |
-- |
|
22] |
Litigations that the firm
/ promoter involved in |
-- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking
account |
-- |
|
26] |
Buyer visit details |
-- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
Yes |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of
Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
No |
OPERATION:
During the year the company has achieved a total turnover of Rs.30.556
Millions as against Rs.10.154 millions achieved in the earlier year.
The operation for the year has resulted in a net profit of Rs.2.116
Millions (Previous year Loss Rs.1.623 Millions) after considering the
depreciation of Rs.1.051 millions (Previous year Rs.1.170 Millions).
FIXED ASSETS:
·
Air Conditioner
·
Building
·
Car
·
Computer and Accessories
·
Computer Software
·
Cycle
·
Electrical Fittings
·
Office Equipments
·
Loose Tools and Equipments
·
Generator
·
Safety Equipments
·
Plant and Machinery
WEBSITE DETAILS:
HISTORY
Subject established in 1985 as a small scale unit by highly qualified technocrats with many years of proven experience in the insulation field and with the technical know-how from the world leaders in Polyurethane technology. Today they are very much advanced in urethane technology, having streamlined their poduction and offer you the complete range of Polyurethane thermal insulation products and services.All the products they manufacture are marketed under the brand name of 'UREFOAM'.
The Rigid Polyurethane Foam with its unrivalled range of excellent insulation and mechanical properties is now here to revolutionise the Diversified Requirements.
PROFILE
Subject was registered as a Private Limited company in the year 1986 and started operations in the same year manufacturing RIGID POLYURETHANE thermal insulation products and extending service contracts to leading Refrigeration and Air-conditioning, Automobile, Hospitality, Pharm and other firms and other process Industries. M/s Polynate Foams [P] Limited, was the first company in South India to commence manufacture of Rigid Polyurethane insulation products confirming to international standards.
The Products are manufactured under the brand name ‘UREFOAM’ and are well accepted in the market. The company did many prestigious projects for ISRO, Wipro, Tata Advanced materials, Tata Elxi, A.O.Smith India Water Heating Private Limited TVS, Voltas, Blue Star, ETA Engineers, Goa Shipyard etc who have been giving repeat orders which accounts for more than 70% of the business. Besides, the products were highly rated by Aeronautical, marine, food, automobile and process industries of the country as an excellent light weight composite core insulation material for energy efficient applications.
The company is managed by experienced directors, who have gained very many years of exposure in similar industry and are technically competent to lead the organisation to greater heights.
NEW VENTURE
In the year 1994, the promoters ventured into manufacture of pre-fabricated modular Cold Rooms, Clean Rooms and stability chambers under the name and style of RINAC INDIA LIMITED. Within a short span of Fifteen years, Rinac India Limited one of the Group companies established their name as the Leading Solution provider of COLD ROOMS in India and neighbouring Asian countries. The company has one of the latest state of the art production facilities in Bangalore and manufactures PUF and EPS sandwich panels, Light weight Industrial Panel doors, Pre-Engineered sandwich building panels, Refrigeration equipments of various capacities and commercial refrigerators.
Leading multi-national companies like Reliance Retail, Reliance telecom, Bharathi telecom, Tata Tele, Taj Hotels, Oberoi, Pizza Hut, Maccains, Orchid Chemicals, Ranbaxy, and Johnson and Johnson are only few of their trusted clientele. The company employs around 500 personal both technical and managerial and has marketing offices in all the leading Cities in India. Rinac India Limited is poised for expansion of their manufacturing infrastructure in the coming years.
NEW PRODUCTION FACILITY
In view of the growing market demand in the country Subject, manufacturers of PUF thermal insulation products established a new manufacturing Unit, incorporating state of the art automated production facility at Bangalore. This facility will increase its capacity to process more than 300 tonnes of PU chemical system per annum and started commercial production by 25th of May 2008.
The company, during 2010 signed annual supply contract to multinationals M/s. A.O.Smith India Water Heating Private Limited, and to service the contract, PFPL added exclusive manufacturing facility at UNIT-II from a leased Industrial shed located at Kamakshipalaya, Bangalore. This unit -2 is utilising their 100% production capacity to meet the required targets.
Over all the Group companies are enjoying the patronage of its leading clientele of both private and public sectors and have earned many laurels for their continued hard work and customised solutions. The Directors are dynamic, enterprising and qualified to lead the company to greater heights on the foundations of trust and relationship established by their valued customers, suppliers, shareholders and employees.
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.55.19 |
|
|
1 |
Rs.87.65 |
|
Euro |
1 |
Rs.69.16 |
INFORMATION DETAILS
|
Report Prepared
by : |
BSN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
2 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--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 |
|
29 |
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.