1. Summary Information
|
Country |
India |
||
|
Company Name |
GLS POLYMERS
PRIVATE LIMITED |
Principal Name 1 |
Mr. Ganesh Mahaevappa |
|
Status |
Satisfactory |
Principal Name 2 |
Praveena Ganesh |
|
Registration # |
08-035699 |
||
|
Street Address |
No. 415, 11th
Cross, 4th Phase, Peenya Industrial Area, Bangalore – 560058,
Karnataka |
||
|
Established Date |
25.02.2005 |
SIC Code |
-- |
|
Telephone# |
91-80-41179140 |
Business Style 1 |
Manufacturer |
|
Fax # |
91-80-28364433 |
Business Style 2 |
-- |
|
Homepage |
Product Name 1 |
Blends |
|
|
# of employees |
28 (Approximately) |
Product Name 2 |
Compounds |
|
Paid up capital |
Rs.2,000,000/- |
Product Name 3 |
Reactive Polymers |
|
Shareholders |
Directors or
relatives of Directors (100%) |
Banking |
Canara Bank |
|
Public Limited Corp. |
No |
Business Period |
7 Years |
|
IPO |
No |
International Ins. |
- |
|
Public |
No |
Rating |
Ba (45) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
CEO |
|
-- |
-- |
-- |
-- |
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2012 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
26,246,000 |
Current Liabilities |
9,783,000 |
|
Inventories |
18,091,000 |
Long-term Liabilities |
8,940,000 |
|
Fixed Assets |
6,443,000 |
Other Liabilities |
1,230,000 |
|
Deferred Assets |
0,000 |
Total Liabilities |
19,953,000 |
|
Invest& other Assets |
0,000 |
Retained Earnings |
28,827,000 |
|
|
|
Net Worth |
30,827,000 |
|
Total Assets |
50,780,000 |
Total Liab. & Equity |
50,780,000 |
|
Total Assets (Previous Year) |
43,334,000 |
|
|
|
P/L Statement as of |
31.03.2012 |
(Unit: Indian Rs.) |
|
|
Sales |
101,777,000 |
Net Profit |
5,876,000 |
|
Sales(Previous yr) |
95,909,000 |
Net Profit(Prev.yr) |
8,449,000 |
MIRA INFORM REPORT
|
Report Date : |
14.12.2012 |
IDENTIFICATION DETAILS
|
Name : |
GLS POLYMERS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
No. 415, 11th Cross, 4th Phase, Peenya
Industrial Area, Bangalore – 560058, Karnataka |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
25.02.2005 |
|
|
|
|
Com. Reg. No.: |
08-035699 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 2.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U25209KA2005PTC035699 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
BLRG06595B |
|
|
|
|
PAN No.: [Permanent Account No.] |
AACCG3173D |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Blends, Compounding and Reactive Polymers. |
|
|
|
|
No. of Employees
: |
28 (Approximately) ( In Office
– 10 and In Factory – 18) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 120000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track record.
Trade relations are reported as fair. Business is active. Payments are
reported to be usually correct and as per commitments. The concern 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 – 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 |
INDIAN ECONOMIC OVERVIEW
India is developing into an open-market economy, yet traces
of its past autarkic policies remain. Economic liberalization, including industrial
deregulation, privatization of state-owned enterprises, and reduced controls on
foreign trade and investment, began in the early 1990s and has served to
accelerate the country's growth, which has averaged more than 7% per year since
1997. India's diverse economy encompasses traditional village farming, modern
agriculture, handicrafts, a wide range of modern industries, and a multitude of
services. Slightly more than half of the work force is in agriculture, but
services are the major source of economic growth, accounting for more than half
of India's output, with only one-third of its labor force. India has
capitalized on its large educated English-speaking population to become a major
exporter of information technology services and software workers. In 2010, the
Indian economy rebounded robustly from the global financial crisis - in large
part because of strong domestic demand - and growth exceeded 8% year-on-year in
real terms. However, India's economic growth in 2011 slowed because of persistently
high inflation and interest rates and little progress on economic reforms. High
international crude prices have exacerbated the government's fuel subsidy
expenditures contributing to a higher fiscal deficit, and a worsening current
account deficit. Little economic reform took place in 2011 largely due to
corruption scandals that have slowed legislative work. India's medium-term
growth outlook is positive due to a young population and corresponding low
dependency ratio, healthy savings and investment rates, and increasing
integration into the global economy. India has many long-term challenges that
it has not yet fully addressed, including widespread poverty, inadequate
physical and social infrastructure, limited non-agricultural employment
opportunities, scarce access to quality basic and higher education, and
accommodating rural-to-urban migration.
|
Source
: CIA |
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 : |
No. 415, 11th Cross, 4th Phase, Peenya
Industrial Area, Bangalore – 560058, Karnataka, India |
|
Tel. No.: |
91-80-41179140/ 41735691 |
|
Fax No.: |
91-80-28364433 |
|
E-Mail : |
hnarao@dataone.in glspolymers@yahoo.com hnarao@vsnl.net |
|
Website : |
|
|
Area : |
22000 Sq.fts |
|
Location : |
Rented |
DIRECTORS
AS ON 29.09.2012
|
Name : |
Mr. Ganesh Mahaevappa |
|
Designation : |
Managing Director |
|
Address : |
FF04, Meridian Gardens, Behind SBI Bank, CBI Road, Ganga Nagar,
Bangalore – 560024, Karnataka, India |
|
Date of Birth/Age : |
01.06.1966 |
|
Date of Appointment : |
02.04.2007 |
|
DIN No.: |
00571114 |
|
|
|
|
Name : |
Praveena Ganesh |
|
Designation : |
Director |
|
Address : |
No. 73, FF 04, Meridian Apartments, Behind SBIBI Road, Ganga Nagar,
Bangalore – 560032, Karnataka, India |
|
Date of Birth/Age : |
15.10.1970 |
|
Date of Appointment : |
15.12.2007 |
|
DIN No.: |
01773160 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 29.09.2012
|
Names of Shareholders |
No. of Shares |
|
Ganesh M. |
139950 |
|
T P. Kallesh |
20000 |
|
K. Lakshmipathy |
20000 |
|
Praveen Ganesh |
20000 |
|
A. G. Bijjal |
50 |
|
TOTAL
|
200000 |
AS ON 29.09.2012
|
Equity Shares
Break Up |
Percentage of
Holding |
|
Directors or relatives of Directors |
100.00 |
|
TOTAL |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Blends, Compounding and Reactive Polymers. |
|
|
|
|
Products : |
|
GENERAL INFORMATION
|
No. of Employees : |
28 (Approximately) ( In Office
- 10 and In Factory - 18) |
||||||||||||||||||
|
|
|
||||||||||||||||||
|
Bankers : |
Canara Bank, Specialised SME Branch 473 - D,
13th Cross, 4th Phase, Peenya
Industrial Area, Bangalore – 560058, Karnataka, India |
||||||||||||||||||
|
|
|
||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
ABS and Company Chartered Accountants |
|
Address : |
No. 32, G3, Rukmini Apartments, 15th Cross, 11th
Main, Malleswaram, Bangalore – 560055, Karnataka, India |
|
Tel. No.: |
91-80-23448727/ 23551653 |
|
PAN No.: |
ADRPR2313SR |
CAPITAL STRUCTURE
AS ON 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
250000 |
Equity Shares |
Rs.10/- each |
Rs. 2.500 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
200000 |
Equity Shares |
Rs.10/- each |
Rs. 2.000 Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
2.000 |
2.000 |
2.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.650 |
|
|
3] Reserves & Surplus |
28.827 |
22.951 |
14.564 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
30.827 |
24.951 |
17.214 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
8.940 |
9.550 |
8.931 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
8.940 |
9.550 |
8.931 |
|
|
DEFERRED TAX LIABILITIES |
0.293 |
0.286 |
0.247 |
|
|
|
|
|
|
|
|
TOTAL |
40.060 |
34.787 |
26.392 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
6.443 |
7.293 |
7.418 |
|
|
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 |
18.091
|
11.427
|
4.450
|
|
|
Sundry Debtors |
20.085
|
17.592
|
21.954
|
|
|
Cash & Bank Balances |
0.062
|
1.287
|
0.016
|
|
|
Other Current Assets |
4.485
|
0.000 |
0.000 |
|
|
Loans & Advances |
1.614
|
5.735
|
4.048
|
|
Total
Current Assets |
44.337
|
36.041 |
30.468 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
6.753
|
3.835
|
7.208
|
|
|
Other Current Liabilities |
3.030
|
0.000 |
0.000 |
|
|
Provisions |
0.937
|
4.712
|
4.286
|
|
Total
Current Liabilities |
10.720
|
8.547 |
11.494 |
|
|
Net Current Assets |
33.617
|
27.494
|
18.974
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
40.060 |
34.787 |
26.392 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
101.777 |
95.909 |
|
|
|
|
Other Income |
0.255 |
0.568 |
|
|
|
|
TOTAL |
102.032 |
96.477 |
103.422 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
92.426 |
82.217 |
90.354 |
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
9.606 |
14.260 |
13.068 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
1.062 |
1.099 |
1.167 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX |
8.544 |
13.161 |
11.901 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
2.668 |
4.712 |
4.286 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX |
5.876 |
8.449 |
7.615 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
NA |
0.107 |
0.000 |
|
|
TOTAL EARNINGS |
NA |
0.107 |
0.000 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
29.38 |
42.24 |
38.08 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
5.76
|
8.75
|
7.36
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
8.39
|
13.72 |
NA |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
16.83
|
30.37
|
31.41
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.28
|
0.53
|
0.69
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.65
|
0.73
|
1.19
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
4.14
|
4.22
|
2.65
|
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 |
Yes |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
Yes |
|
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) |
Yes |
|
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 |
PERFORMANCE OF THE
COMPANY
For the financial year ended 31.03.2012 the Company has achieved a
turnover of Rs. 102.000 Millions and made the profit of Rs. 5.876 Millions
after all expenditure and taxes. The profit was less than the previous year
profit, as due to increase in the raw material and overhead costs. The
management has take all measures to control the same and promised to solve this
issue.
FORM 8
|
Corporate identity number of the company |
U25209KA2005PTC035699 |
|
Name of the company |
GLS POLYMERS PRIVATE LIMITED |
|
Address of the registered office or of the
principal place of business in |
No. 415, 11th Cross, 4th Phase, Peenya
Industrial Area, Bangalore – 560058, Karnataka, India Email Id : hnarao@gmail.com |
|
This form is for |
Modification of charge |
|
Charge identification (ID) number of the
charge to be modified |
80047629 |
|
Type of charge |
Movable property (not being pledge) Floating charge |
|
Particular of charge holder |
Canara Bank, 473 D, 13th Cross, 4th Phase,
SME Branch, Peenya Industrial Area, Bangalore – 560058, Karnataka, India Email Id : cb2454@canarabank.com |
|
Nature of instrument creating charge |
Supplement Common Hypothecation Agreement |
|
Date of instrument Creating the charge |
10.03.2011 |
|
Amount secured by the charge |
Rs.18.500 Millions |
|
Brief of the principal terms an conditions
and extent and operation of the charge |
Rate of Interest OCC/ODBD - 10.25% p.a Other limits as per existing/sanction
terms Terms of repayment OCC/ODBD - Running account repayable on
demand FLC (DA/DP) - Usance period 90 days TL - As per existing terms Margin As per bank norms Extent and operation of the charge The charge operates to the extent of
entire loan amount plus interest, commission, expenses, cost and other
charges if any Others The said amount of Rs.17.000 Millions
comprises of cash credit Rs.7.500 Millions (enhanced from Rs.6.000 Millions)
FLC Rs.3.000 Millions and Term Loan Rs.6.500 Millions continued at existing
level |
|
Short particulars of the property or
asset(s) charged (including complete address and location of the property) |
Hypothecation by way of first charge on
stocks, book debts, plant and machineries and other movables present and
future stored / installed at the company premises at No.415, 11th Cross, 4th
Phase, Peenya Industrial Area, Bangalore - 58 or at any other place |
|
Date of instrument modifying the charge |
05.06.2010 |
|
Particulars of the present modification |
By the amount secured by charge stands
increased from Rs.15.500 Millions to Rs.17.000 Millions (All other terms and conditions remains
unchanged) |
FIXED ASSETS
- Computer
- Electrical and Fittings
- Furniture and Fixtures
- Motor Car
- Moulds
- Office Equipments
- Plant and Machinery
- Sewing Machine
- Testing Instruments
- Tools and Equipments
- Weighing Scale
- Power Saver
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 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 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. 54.23 |
|
|
1 |
Rs. 87.53 |
|
Euro |
1 |
Rs. 70.94 |
INFORMATION DETAILS
|
Report Prepared
by : |
DPT |
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 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--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 |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
45 |
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.