MIRA
INFORM REPORT
|
Report Date : |
18.12.2012 |
IDENTIFICATION DETAILS
|
Name : |
B.L.LIFE SCIENCES PRIVATE LIMITED |
|
|
|
|
Formerly Known
As : |
BIOSENSORS INTERNATIONAL (INDIA) PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
A-245, Okhla Industrial Area, Phase - I, New Delhi - 110020 |
|
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|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
03.03.1999 |
|
|
|
|
Com. Reg. No.: |
55-098641 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 28.557
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U33112DL1999PTC098641 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
DELB06427B |
|
|
|
|
PAN No.: [Permanent Account No.] |
AACCB2350B |
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|
|
Legal Form : |
Private Limited Liability Company |
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|
|
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Line of Business
: |
Manufacturer and Exporter of Surgical and Hemodialysis Accessories. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (46) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 764000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
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|
Comments : |
Subject is an established company having satisfactory track record. Latest
financial i.e. 2011-2012 are missing from the government department. From
available the financial of 2011, it seems that the company have satisfactory
track record. 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 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) |
|
|
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 |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Term loan : (BBB-) |
|
Rating Explanation |
Moderate degree of safety. It carry moderate
credit risk. |
|
Date |
February 2012 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Bank Guarantee : (A3) |
|
Rating Explanation |
Moderate degree of safety. It carry higher
credit risk. |
|
Date |
February 2012 |
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/ Corporate Office : |
A-245, Okhla Industrial Area, Phase - I, New Delhi – 110020, India |
|
Tel. No.: |
91-11-41708800/ 45100100 |
|
Fax No.: |
91-11-41708464/ 41708465 |
|
E-Mail : |
|
|
Website : |
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Factory : |
D-31, Site IV Kansa, Greater Noida - 201306, Uttar Pradesh, India |
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International Business : |
Located at: Ø
Asia Pacific, Ø
ANZ Ø
Ø
Ø
Ø
Ø
Ø
Ø
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|
|
|
Branch and Representative Offices in India : |
Located at: Ø
Chennai Ø
Mumbai Ø
Ø
Ø
Kolkata Ø
Ahmedabad Ø
Ø
Ø
Jaipur |
|
|
|
|
Overseas Offices : |
Located at: Ø Singapore Ø Dubai U.A.E. |
DIRECTORS
AS ON 29.09.2012
|
Name : |
Mr. Sunil Aggarwal |
|
Designation : |
Managing director |
|
Address : |
W-57, Greater Kailash – II, New Delhi – 110048, India |
|
Date of Birth/Age : |
01.09.1965 |
|
Date of Appointment : |
03.03.1999 |
|
DIN No.: |
00312454 |
|
|
|
|
Name : |
Mr. Ajay Aggarwal |
|
Designation : |
Director |
|
Address : |
900, Dunearn Road, 01-06, Singapore 589473 |
|
Date of Birth/Age : |
17.02.1964 |
|
Date of Appointment : |
03.03.1999 |
|
DIN No.: |
00312651 |
|
|
|
|
Name : |
Mr. Bhoopendra Singh Shishodia |
|
Designation : |
Whole-time director |
|
Address : |
201A, Neeti Khanda I, Indirapurama, Ghaziabad – 201001, Uttar Pradesh,
India |
|
Date of Birth/Age : |
06.10.1969 |
|
Date of Appointment : |
10.06.2010 |
|
DIN No.: |
03085915 |
KEY EXECUTIVES
|
Name : |
Mr. Randeep Singh |
|
Designation : |
Secretary |
|
Address : |
Block-6, House No. 675, Lodhi Colony, New Delhi – 110003, India |
|
Date of Birth/Age : |
11.11.1985 |
|
Date of Appointment : |
01.02.2011 |
|
PAN No.: |
AECPT0223N |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 29.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
Sunil Aggarwal |
|
8687134 |
|
Ajay Aggarwal |
|
333000 |
|
Seema Aggarwal |
|
1835000 |
|
Sejal Aggarwal |
|
200200 |
|
Subham Agarwal |
|
273266 |
|
Shakuntala Aggarwal |
|
200 |
|
J K Aggarwal HUF |
|
200 |
|
Poonam Aggarwal |
|
81534 |
|
Ankur Gupta |
|
200 |
|
Subhash Gupta |
|
200 |
|
Aashna Aggarwal |
|
266 |
|
Abhijay Aggarwal |
|
134 |
|
Total |
|
11411334 |
AS ON 29.09.2012
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Directors
or relatives of directors |
|
100.00 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Surgical and Hemodialysis Accessories. |
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Products : |
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GENERAL INFORMATION
|
No. of Employees : |
Not Available |
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Bankers : |
Ø ICICI Bank
Limited Ø Canara Bank Ø HDFC Bank
Limited Ø Standard
Chartered Bank, 10 Parliament Street, New Delhi – 110001, India Ø State Bank of India,
SME Branch, 233, Industrial Estate Okhla, Phase-III, New Delhi – 110020,
India |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors 1 : |
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|
Name : |
Sam and Associates Chartered Accountants |
|
Address : |
A-48, LGF , Dayanand Colony, Lajpat Nagar – IV, New Delhi – 110024,
India |
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Tel. No.: |
91-11-26432756 |
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Mobile No.: |
91-9810034027 |
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Income-tax
PAN of auditor or auditor's firm : |
AACFS6838G |
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|
|
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Auditors 2 : |
|
|
Name : |
Rajeev Mago and Associates Chartered Accountants |
|
Address : |
G - 82, Ground Floor, Lajpat Nagar – II, New Delhi – 110024, India |
|
Tel. No.: |
91-11-65633119/ 29810507 |
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Fax No.: |
91-11-29810507 |
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E-Mail : |
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|
Income-tax
PAN of auditor or auditor's firm : |
AADPM6570E |
CAPITAL STRUCTURE
AS ON 29.09.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
12,000,000 |
Equity Shares |
Rs. 10/- each |
Rs. 120.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
11,411,334 |
Equity Shares |
Rs.10/- each |
Rs. 114.113
Millions |
|
|
|
|
|
AS ON 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
12,000,000 |
Equity Shares |
Rs. 10/- each |
Rs. 120.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2855667 |
Equity Shares |
Rs.10/- each |
Rs. 28.557
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 |
28.557 |
28.557 |
22.060 |
|
|
2] Share Application Money |
0.100 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
162.258 |
122.666 |
43.852 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
190.915 |
151.223 |
65.912 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
161.967 |
85.082 |
50.750 |
|
|
2] Unsecured Loans |
101.246 |
101.543 |
51.293 |
|
|
TOTAL BORROWING |
263.213 |
186.625 |
102.043 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
454.128 |
337.848 |
167.955 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
104.489 |
98.032 |
48.330 |
|
|
Capital work-in-progress |
59.842 |
1.402 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.005 |
0.005 |
0.000 |
|
|
DEFERREX TAX ASSETS |
1.250 |
1.684 |
1.215 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
184.544
|
140.257 |
95.625 |
|
|
Sundry Debtors |
158.042
|
159.165 |
120.285 |
|
|
Cash & Bank Balances |
13.715
|
22.467 |
25.263 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
41.747
|
45.256 |
27.579 |
|
Total
Current Assets |
398.048
|
367.145 |
268.752 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
69.301
|
88.954 |
94.908 |
|
|
Other Current Liabilities |
16.708
|
14.111 |
37.416 |
|
|
Provisions |
23.497
|
27.589 |
18.505 |
|
Total
Current Liabilities |
109.506
|
130.654 |
150.829 |
|
|
Net Current Assets |
288.542
|
236.491 |
117.923 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.234 |
0.487 |
|
|
|
|
|
|
|
|
TOTAL |
454.128 |
337.848 |
167.955 |
|
PROFIT & LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
716.349 |
700.091 |
525.509 |
|
|
|
Other Income |
18.461 |
20.138 |
7.475 |
|
|
|
TOTAL |
734.810 |
720.229 |
532.984 |
|
|
|
|
|
|
|
|
Less |
|
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
676.385 |
657.682 |
495.551 |
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
58.425 |
62.547 |
37.433 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
27.011 |
22.086 |
21.584 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX |
31.414 |
40.461 |
15.849 |
|
|
|
|
|
|
|
|
|
|
APPROPRIATIONS |
|
|
|
|
|
|
|
|
N.A. |
3.000 |
2.000 |
|
|
|
Dividend |
|
2.206 |
1.103 |
|
|
|
Tax on Dividend |
|
0.366 |
0.187 |
|
|
BALANCE CARRIED
TO THE B/S |
28.925 |
34.888 |
19.974 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
60.454 |
90.364 |
47.996 |
|
|
|
Commission Earnings |
1.068 |
0.000 |
0.000 |
|
|
TOTAL EARNINGS |
61.522 |
90.364 |
47.996 |
|
|
|
|
|
|
|
|
|
|
CIF VALUE OF
IMPORTS |
260.085 |
272.987 |
197.657 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
11.00 |
14.17 |
N.A. |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
4.28 |
5.62 |
2.97 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
8.16 |
8.93 |
7.12 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
11.63 |
13.39 |
11.81 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.31 |
0.41 |
0.57 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.95 |
2.10 |
3.84 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
3.63 |
2.81 |
1.78 |
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 |
No |
|
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 |
Yes |
MERGER:
The completion of merger of B L Marketing Services Limited with B L Life
Sciences Private Limited under Section 391 and 394 of the Companies Act, 1956
vide Delhi High Court order dated September 27, 2010.
The appointed date for the merger was April 01, 2008 and consequently,
the financial figures for current year reflect the consolidated results of B L
Marketing Services Limited and B L Life Sciences Private Limited from the
Appointed date till March 31, 2011, hence not comparable to those of the
previous year. The merger accounting has been done on the pooling of interests
method in accordance with the Accounting Standard 14 (AS 14) as prescribed by
the Institute of Chartered Accountants of India [ICAI]. The merger will
facilitate the integration and consolidated of their business in India and
enable them to operate more efficiently and effectively.
CONTINGENT LIABILITIES:
(Rs. in millions)
|
Particulars |
31.03.2011 |
31.03.2010 |
|
(i) Guarantee given by the company to bank
towards bank guarantees to the customers of the Company outstanding as at
31.03.2011 |
1.673 |
2.803 |
|
(ii) Foreign Letter of Credit |
0.000 |
1.195 |
|
(iii) Estimated amount of contracts remaining
to be executed on capital accounts not provided for |
20.000 |
69.500 |
FIXED ASSETS:
Ø
Computer
Ø
Air Conditioner
Ø
Colour Dome Camera
Ø
Car
Ø
Valks Wagon
Ø
Audi Car
Ø
Die and Moulding
Ø
Photocopler
Ø
Electrical Installation
Ø
EPBX System
Ø
Generator
Ø
Fax Machine
Ø
Fier Extiguisher
Ø
Furniture and Fixture
Ø
Other Fixture and fittings
Ø
Panasonic System
Ø
Invertor
Ø
Mobile Instrument
Ø
Noida Plot
Ø
Office Equipments
Ø
Plant and Machinery
Ø
Printer
Ø
Scooter
Ø
Television
Ø
Fan
Ø
Refrigeration
Ø
Telephone
Ø
Stablisers
Ø
Washing Machine
Ø Weight and Scales
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. 54.63 |
|
|
1 |
Rs. 88.40 |
|
Euro |
1 |
Rs. 71.86 |
INFORMATION DETAILS
|
Report Prepared
by : |
BVA |
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 |
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 |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
46 |
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.