MIRA
INFORM REPORT
|
Report Date : |
10.01.2012 |
IDENTIFICATION DETAILS
|
Name : |
MEHTA TUBES LIMITED |
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Formerly Known As: |
MEHTA TUBES PRIVATE LIMITED |
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Registered Office : |
Char Rasta, Nana Pondha, Taluka : Dharmpur, District Valsad – 396 126,
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Country : |
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Financials (as on) : |
31.03.2011 |
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Date of Incorporation : |
03.06.1988 |
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Com. Reg. No.: |
04-10794 |
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Capital Investment
/ Paid-up Capital : |
Rs.14.315
millions |
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CIN No.: [Company
Identification No.] |
U27109GJ1988PTC010794 |
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PAN No.: [Permanent
Account No.] |
AACCM9377R |
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Legal Form : |
A closely held public limited liability company. |
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Line of Business : |
Manufacturer, Exporter and Importer of Copper Brass and Tubes |
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No. of Employees : |
176 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (46) |
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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 830000 |
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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 an established company having satisfactory track. 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.
INFORMATION PARTED BY
|
Name : |
Mr. Dinesh |
|
Designation : |
Accounts Manager |
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Contact No.: |
91-22-43404646 |
|
Date : |
07.01.2012 |
LOCATIONS
|
Registered Office/Factory : |
Char Rasta, Nana Pondha, Taluka : Dharmpur, District Valsad – 396 126,
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Tel. No.: |
91-2633-250112 |
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Fax No.: |
Not Available |
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E-Mail : |
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Website : |
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Location : |
Owned |
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Head Office : |
9th Plaza, Panchshell, |
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Tel. No.: |
91-22-43404040 |
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Fax No.: |
91-22-43404050 |
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E-Mail : |
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Website : |
DIRECTORS
AS ON 30.09.2011
|
Name : |
Mr. Mangilal Vacharaj Mehta |
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Designation : |
Director |
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Address : |
107-B, Shripal Nagar, Mumbai – 400 006, |
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Date of Birth/Age : |
14.07.1950 |
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Date of Appointment : |
03.06.1988 |
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DIN No.: |
02499096 |
Other Directorship:
|
S.No. |
CIN |
Name
of the Company |
Current
designation of the director |
Date
of appointment at current designation |
Original
date of appointment |
Company
Status |
Defaulting
status |
|
1 |
U27101GJ1985PTC008258 |
MUKESH
METAL INDUSTRIES PRIVATE LIMITED |
Director |
08-11-85 |
08-11-85 |
Active |
NO |
|
2 |
U27109GJ1988PTC010794 |
MEHTA
TUBES PRIVATE LIMITED |
Director |
03-06-88 |
03-06-88 |
Active |
NO |
|
Name : |
Mr. Rikhabchand Vachraj Mehta |
|
Designation : |
Director |
|
Address : |
107-B, Shripal Nagar, Mumbai – 400 006, |
|
Date of Birth/Age : |
12.05.1964 |
|
Date of Appointment : |
03.06.1988 |
|
DIN No.: |
01597368 |
Other Directorship:
|
S.No. |
CIN |
Name
of the Company |
Current
designation of the director |
Date
of appointment at current designation |
Original
date of appointment |
Company
Status |
Defaulting
status |
|
1 |
U27109GJ1988PTC010794 |
MEHTA
TUBES PRIVATE LIMITED |
Director |
03-06-88 |
03-06-88 |
Active |
NO |
|
2 |
U27200MH1955GAP009594 |
BOMBAY
METAL EXCHANGE LIMITED |
Director |
20-03-04 |
20-03-04 |
Active |
NO |
|
3 |
U70102MH2010PTC206414 |
PUSHPADANTA
ESTATE PRIVATE LIMITED |
Director |
10-08-10 |
10-08-10 |
Active |
NO |
|
4 |
U70100MH2010PTC207161 |
SHREYANSNATH
REALTY PRIVATE LIMITED |
Director |
27-08-10 |
27-08-10 |
Active |
NO |
|
Name : |
Mr. Mukesh Mangilal Mehta |
|
Designation : |
Director |
|
Address : |
74, |
|
Date of Appointment : |
28.12.2005 |
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DIN No.: |
01492795 |
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|
Name : |
Mr. Sanjay Ramniklal Shah |
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Designation : |
Director |
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Address : |
4C, Ridge Apartment, |
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Date of Appointment : |
28.12.2005 |
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DIN No.: |
02505950 |
KEY EXECUTIVES
|
Name : |
Mr. Dinesh |
|
Designation : |
Accounts Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2011
|
Names of Shareholders |
No. of Shares |
|
Mangilal V. Mehta |
13979 |
|
Rikabchand V. Mehta |
17873 |
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Mukesh M. Mehta |
22000 |
|
Ganpat V. Mehta |
7929 |
|
Mangilal V. Mehta HUF |
1000 |
|
Rikabchand V. Mehta HUF |
400 |
|
Kavita M. Mehta |
475 |
|
Neeru M. Mehta |
445 |
|
Jayaben M. Mehta |
1350 |
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Mahesh M. Mehta |
626 |
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Anita Mehta |
925 |
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Kusumiben V Mehta |
756 |
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Urmila R. Mehta |
2750 |
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Piyush S. Vyas |
1960 |
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Sanjay R. Shah |
11150 |
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Vijay B Morakhia |
600 |
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Ramniklal N. Shah |
918 |
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Dilip S. Shah |
1668 |
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Shailesh K. Shah |
1200 |
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Jayesh B. Morakhia |
18800 |
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Vimlaben K. Shah |
1950 |
|
Kamlaben R. Shah |
420 |
|
AMI Impex Company Limited, |
33973 |
|
Total
|
143147 |
AS ON 30.09.2011
|
Equity Shares
Break Up |
Percentage |
|
Bodies corporate |
23.73 |
|
Directors or relatives of Directors |
76.27 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer, Exporter and Importer of Copper Brass and Tubes |
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Products : |
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Exports : |
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Products : |
Copper Brass |
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Countries : |
·
UK ·
America ·
Egypt ·
Australia |
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Imports : |
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Products : |
Raw Material |
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Countries : |
·
Malaysia ·
UK ·
Dubai |
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Terms : |
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Selling : |
L/C, Cash, Credit |
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Purchasing : |
L/C, Cash, Credit |
PRODUCTION STATUS (AS ON 31.03.2011)
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Particulars |
Unit |
Installed
Capacity |
|
Redrawn Copper and Copper Alloys Pipes, Rods |
M T DN |
1680.00 |
|
Particulars |
Unit |
Actual
Production |
|
Redrawn Copper and Copper Alloys Pipes, Rods |
Kgs. |
1444105.94 |
GENERAL INFORMATION
|
Suppliers : |
·
Jindal Company ·
Armax Controls ·
Anchor Electricals Private Limited ·
Bajaj Tooling ·
Gold Oil Corporation ·
J A Electrical Corporation ·
Nibcop Fittings Private Limited ·
Swati Non Ferrous Private Limited ·
Tushar Acid and Chemicals ·
Nisha Packaging ·
Remi Steel House ·
Image India Private Limited ·
Ishan Corporation ·
Jai Shakti Tube |
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Customers : |
Wholesalers and Retailers ·
Brass Copper Limited ·
Abacus Tubes Limited ·
Ameri Tube ·
Cgypt Gas Company ·
ETA Engineering Private Limited ·
Global Metals ·
Gupta Industrial Corporation ·
Hivoltrans Electricals Private Limited ·
Lloyd Electric and Engineering Limited ·
Nagarjuna Oil corporation Limited ·
Rolls Royce Marine India Private Limited ·
South Coast Steam Limited ·
M Raj and Company
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No. of Employees : |
176 (Approximately) |
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Bankers : |
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Facilities : |
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Banking
Relations : |
-- |
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Financial Institution : |
3i Infotech Trusteeship Services Limited, 3rd to 6th
Floor, International Infotech Park, Tower No.5, Vashi Railway Station Complex,
Vashi, Navi Mumbai-400703, Maharashtra, India |
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Auditors : |
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Name : |
Mehta Lodha and Company Chartered Accountants |
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Address : |
105 Sakar -1, First Floor, Opposite Gandhigram Railway Station, |
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Tel. No.: |
91-79-26586683/85 |
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Fax No.: |
91-79-26586684 |
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Pan No.: |
AACFM6805H |
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Associates: |
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CAPITAL STRUCTURE
AS ON 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
|
|
|
500000 |
Equity Shares |
Rs.100/- each |
Rs. 50.000 Millions |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
143147 |
Equity Shares |
Rs.100/-
each |
Rs. 14.315
Millions |
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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 |
|
|
|
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|
1] Share Capital |
14.315 |
14.315 |
13.232 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
194.614 |
177.429 |
147.446 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
208.929 |
191.744 |
160.678 |
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|
LOAN FUNDS |
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|
1] Secured Loans |
80.495 |
43.800 |
47.778 |
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2] Unsecured Loans |
248.047 |
102.207 |
44.219 |
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TOTAL BORROWING |
328.542 |
146.007 |
91.997 |
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DEFERRED TAX LIABILITIES |
17.105 |
12.957 |
9.574 |
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TOTAL |
554.576 |
350.708 |
262.249 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
150.582 |
115.652 |
117.709 |
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Capital work-in-progress |
0.000 |
8.854 |
0.000 |
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INVESTMENT |
0.139 |
0.139 |
0.139 |
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DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
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|
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
145.897
|
69.726
|
49.106 |
|
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Sundry Debtors |
217.871
|
152.721
|
92.181 |
|
|
Cash & Bank Balances |
12.156
|
14.219
|
18.643 |
|
|
Other Current Assets |
0.000
|
0.000
|
0.000 |
|
|
Loans & Advances |
54.073
|
29.572
|
21.128 |
|
Total
Current Assets |
429.997
|
266.238 |
181.058 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
26.142
|
40.175
|
36.657 |
|
|
Other Current Liabilities |
0.000
|
0.000
|
0.000 |
|
|
Provisions |
0.000
|
0.000
|
0.000 |
|
Total
Current Liabilities |
26.142
|
40.175 |
36.657 |
|
|
Net Current Assets |
403.855
|
226.063
|
144.401 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
554.576 |
350.708 |
262.249 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
690.461 |
391.131 |
536.071 |
|
|
|
Other Income |
59.723 |
39.103 |
33.731 |
|
|
|
TOTAL (A) |
750.184 |
430.234 |
569.802 |
|
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|
|
|
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Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Material Consumed |
683.341 |
343.735 |
458.781 |
|
|
|
Manufacturing Expenses |
71.135 |
58.021 |
55.293 |
|
|
|
Administrative and Office Expenses |
12.249 |
6.610 |
5.450 |
|
|
|
Employees Remuneration |
3.572 |
2.075 |
1.912 |
|
|
|
Sales Tax |
0.022 |
0.835 |
0.069 |
|
|
|
Increase/(Decrease) in Finished Goods |
(75.307) |
(19.253) |
6.101 |
|
|
|
TOTAL (B) |
695.012 |
392.023 |
527.606 |
|
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|
|
|
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Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
55.172 |
38.211 |
42.196 |
|
|
|
|
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|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
11.544 |
9.049 |
13.678 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
43.628 |
29.162 |
28.518 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
12.299 |
11.693 |
16.494 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
31.329 |
17.469 |
12.024 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
14.144 |
5.883 |
3.015 |
|
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|
|
|
|
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|
PROFIT AFTER TAX
(G-H) (I) |
17.185 |
11.586 |
9.009 |
|
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|
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|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
54.679 |
43.093 |
34.084 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
71.864 |
54.679 |
43.093 |
|
|
|
|
|
|
|
|
|
|
EXPORT VALUE |
241.330 |
87.568 |
10.001 |
|
|
|
|
|
|
|
|
|
|
IMPORTS VALUE |
220.655 |
113.787 |
0.000 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
120.05 |
84.97 |
81.52 |
|
Expected Sales (2011-2012) : Rs. 450.000 Millions
The above information has been parted by Mr. Dinesh.
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
2.29
|
2.69 |
1.58 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
4.54
|
4.47 |
2.24 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
5.40
|
4.57 |
4.02 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.15
|
0.06 |
0.06 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.78
|
1.04 |
0.86 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
16.45
|
6.63 |
4.94 |
LOCAL AGENCY FURTHER INFORMATION
DETAILS OF SUNDRY CREDITORS:
|
Particulars |
31.03.2011 (Rs. in millions) |
31.03.2010 (Rs. in millions) |
31.03.2009 (Rs. in millions) |
|
Sundry Creditors |
26.142
|
40.175
|
36.657 |
DETAILS OF SUNDRY CREDITORS: (PARTIAL
DETAILS)
|
Particulars |
31.03.2011 (Rs. in millions) |
31.03.2010 (Rs. in millions) |
|
Orchid
Enterprises |
0.000 |
0.213 |
|
Apollo Hume Pipes
product |
0.000 |
0.025 |
|
Bajaji Tooling |
0.065 |
0.012 |
|
Bharat Steel
Suppliers |
0.047 |
0.016 |
|
Desai Electrical |
0.130 |
0.077 |
|
Gala Poly Plast |
0.000 |
0.202 |
|
Harshala Metals |
0.000 |
0.084 |
|
Zinc MISR |
0.361 |
0.361 |
|
KEW Industrial
Limited |
0.000 |
0.664 |
|
Records and
Medicare Systems Private Limited |
0.000 |
0.059 |
|
Armax Controls |
0.010 |
0.000 |
|
Satyam Tradelink |
0.432 |
0.000 |
|
Shreeji Traders |
0.101 |
0.000 |
|
Check List by Info Agents |
Available in Report (Yes / No) |
|
1. Year of Establishment |
Yes |
|
2. Locality of the firm |
Yes |
|
3. Constructions of the firm |
Yes |
|
4. Premises details |
Yes |
|
5. Type of Business |
Yes |
|
6. Line of Business |
Yes |
|
7. Promoter’s background |
------ |
|
8. No. of Employees |
Yes |
|
9. Name of person contacted |
Yes |
|
10. Designation of contact person |
Yes |
|
11. Turnover of firm for last three years |
Yes |
|
12. Profitability for last three years |
No |
|
13. Reasons for variation <> 20% |
Yes |
|
14. Estimation for coming financial year |
Yes |
|
15. Capital in the business |
Yes |
|
16. Details of sister concerns |
Yes |
|
17. Major suppliers |
Yes |
|
18. Major customers |
Yes |
|
19. Payments terms |
Yes |
|
20. Export / Import details |
Yes |
|
21. Market information |
------ |
|
22. Litigations that the firm / promoter involved |
------ |
|
23. Banking Details |
Yes |
|
24. Banking facility details |
Yes |
|
25. Conduct of the banking account |
------ |
|
26. Buyer visit details |
------ |
|
27. Financials, if provided |
No |
|
28. Incorporation details, if applicable |
------ |
|
29. Last accounts filed at ROC |
------ |
|
30. Major Shareholders, if available |
------ |
FORM 8
|
Corporate identity
number of the company |
U27109GJ1988PTC010794 |
|
Name of the
company |
MEHTA TUBES PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
Char Rastananapondha, Tal Dhrampur, Valsad- 396406, |
|
This form is for |
Modification of
charge |
|
Type of charge |
Immovable
property |
|
Particular of
charge holder |
Citi Bank- NA, Trent House, 2nd Floor, Plot No. C 60, Bandra Kurla Complex, Bandra (East), Mumbai – 400 051, Maharashtra, India |
|
Nature of
instrument creating charge |
Modification to
Memorandum of Entry. |
|
Date of
instrument Creating the charge |
24.08.2011 |
|
Amount secured by
the charge |
Rs. 140.000
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of interest Interest to be
charged at such rate/s as may be determined by the Bank from time to time. Terms of repayment On demand. Margin As may be stipulated
by the Bank from time to time. Extent and operation of the charge The Company
accorded and gave oral consent to Bank to continue to hold and retain the
title deeds (by way of Constructive delivery) in respect of its immovable
properties as mentioned under Item No 15 as security for repayment of credit
facilities of Rs.140.000 millions, with interest, liquidated damages, costs,
charges and expenses and all other money whatsoever due and payable thereon. |
|
Short particulars
of the property charged (Including location of the property) |
Equitable
Mortgage on property situated at 298/1, Village Nanapodha, Taluka Dharampur,
District-Valsad. Equitable
Mortgage on property situated at Unit No. 915 and Unit No 916, 9h Floor,
Plaza Panchsil, 55 Gamdevi Road, Mumbai-400007. |
|
Charge
identification number of the charge to be modified |
90111868 |
|
Date of
instrument modifying the charge |
26.06.2007 |
|
Particulars of
the present modification |
The Mortgage/charge
shall now stand increased form Rs.70.000 millions to Rs.140.000 millions in
favour of the Bank, against the security of Immovable property situated at
District-Valsad and Mumbai. |
TRADE REFRENCES:
·
Brass Copper Limited
·
Jindal Company
FIXED ASSETS:
- Building
- Plant and Machinery
- Furniture and Fixture
- Computers
- Vehicles
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. 52.73 |
|
|
1 |
Rs. 81.33 |
|
Euro |
1 |
Rs. 67.00 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
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 |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--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.