|
Report Date : |
18.07.2012 |
IDENTIFICATION DETAILS
|
Name : |
BANG DATA FORMS PRIVATE LIMITED BANK POLYPACK DIVISION OF BANG DATA FORMS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Unit No.50, Kewal Industrial Estate, Senapathi Bapat Marg, Lower Parel
(West) Mumbai -400013, |
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Country : |
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|
|
|
Financials (as on)
: |
31.03.2011 |
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|
|
|
Date of
Incorporation : |
19.07.1989 |
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|
|
|
Com. Reg. No.: |
11-052672 |
|
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|
|
Capital
Investment/ Paid-up Capital: |
Rs.13.200 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U22219MH1989PTC052672 |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACB1541Q |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
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|
|
|
Line of Business
: |
Manufacturer and Exporter of Computer Paper Stationery and P.P Woven
Bags |
|
|
|
|
No. of
Employees: |
428 (Approximately) (28 – in Office, In Factory – 400) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (47) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 716000 |
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|
|
|
Status : |
Satisfactory |
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|
|
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having satisfactory track record.
Due to increase is the raw material price profitability of the company
sharply decline. However trade relations are reported to be fair. Business
is active. Payment are reported to be
usually correct and as per commitment. The company can be considered for normal Business dealing on a 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 (GENERAL DETAILS )
|
Name : |
Mr. |
|
Designation : |
Director |
|
Contact No.: |
91-9322225398 |
|
Date : |
17.07.2012 |
LOCATIONS
|
Registered Office : |
Unit No.50, Kewal Industrial Estate, Senapathi Bapat Marg, Lower Parel
(West) Mumbai -400013, |
|
Tel. No.: |
Not Available |
|
Mobile No.: |
91-9322225398 (Mr. |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Website : |
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Factory : |
Plot No.A-7 and A -64, MIDC, Chincholi, Solapur, |
|
Tel. No.: |
91-217-2357511 |
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Fax No.: |
91-217-2357726 |
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E-Mail : |
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|
Area : |
2000000 sq.ft |
|
Location : |
Owned |
|
|
|
|
Marketing Office : |
103, Kewal Industrial Estate, Senapati Bapat Marg, Lower Parel (west)
Mumbai 400013, Maharashtra, India - |
|
Tel. No.: |
91-22-40436565 |
|
Fax No.: |
91-22-24901891 |
|
Area : |
1000 Sq.ft |
|
Location : |
Owned |
DIRECTORS
As on 30.09.2011
|
Name : |
Mr. Venugopal Balaram Bang |
|
Designation : |
Director |
|
Address : |
122, |
|
Date of Birth/Age : |
2.06.1954 |
|
Qualification : |
BE |
|
Experience : |
21 Years |
|
Date of Appointment : |
19.07.1989 |
|
Din No.: |
00112410 |
|
|
|
|
Name : |
Mr. Krishna Kumar Ramkumar Bang |
|
Designation : |
Director |
|
Address : |
122, |
|
Date of Birth/Age : |
25.07.1966 |
|
Qualification : |
CA |
|
Experience : |
22 Years |
|
Date of Appointment : |
25.01.1990 |
|
Din No.: |
00235932 |
|
|
|
|
Name : |
Mr. Varadraj Rangnath Bang |
|
Designation : |
Director |
|
Address : |
9, |
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Date of Birth/Age : |
21.10.1967 |
|
Qualification : |
CA |
|
Experience : |
32 Years |
|
Date of Appointment : |
19.07.1989 |
|
Din No.: |
00235962 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
Sampatkumar Bang |
|
20000 |
|
Saraswati Devi Bang |
|
26200 |
|
Ramanujdas Bang |
|
5000 |
|
Kantadevi Bang |
|
22200 |
|
Arvind Kumar Bang |
|
26200 |
|
Purushottam Bang |
|
26200 |
|
Sridhar Bang |
|
28300 |
|
Padmavati P Soni |
|
13000 |
|
Vishnukanta N Baheti |
|
15000 |
|
Ramankanta S Partani |
|
20000 |
|
Srikanta Laddha |
|
20000 |
|
Ramkumar Bang |
|
64700 |
|
Parwatidevi Bang |
|
50200 |
|
Narayandas Bang |
|
35000 |
|
Rekha N Bang |
|
31000 |
|
Kamalnayan R Bang |
|
35000 |
|
|
|
41600 |
|
Madhusudan Bang |
|
35000 |
|
Sita Bajaj |
|
20000 |
|
Geeta Jakhotia |
|
20000 |
|
Balaram R Bang |
|
50400 |
|
Radhadevi R Bang |
|
31400 |
|
Venugopal B Bang |
|
36600 |
|
Tara B Bang |
|
35400 |
|
Nandgopal B Bang |
|
35400 |
|
Sobha N Bang |
|
29600 |
|
Rajgopal B Bang |
|
35400 |
|
Girdhar B Bang |
|
35400 |
|
Brijgopal L Bang |
|
45500 |
|
Anusuya S Dhoot |
|
20000 |
|
Madhu R Maheshwari |
|
20000 |
|
Rangnath S Bang |
|
64900 |
|
Pushpadevi R Bang |
|
49800 |
|
Varadraj R Bang |
|
50400 |
|
Vasudev R Bang |
|
50500 |
|
Laxminiwas S Bang |
|
70500 |
|
Pushpa L Bang |
|
44200 |
|
Gopibai S. Bang |
|
10000 |
|
Satyanarayan R Sarda |
|
10000 |
|
Dwarka Prasad R Sarda |
|
10000 |
|
Ramkishore S Sarda |
|
10000 |
|
Rajgopal S Sarda |
|
10000 |
|
Shobha Devi Sarda |
|
10000 |
|
Total |
|
1320000 |
As on 30.09.2011
|
Category |
|
Percentage |
|
|
|
|
|
Directors or relatives of directors |
|
100.00 |
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Computer Paper Stationery and P.P Woven
Bags |
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|
Exports : |
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|
Products : |
·
Computer Paper Stationery ·
P.P Woven Bags |
|
Countries : |
·
US ·
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Imports : |
|
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Products : |
Raw Material |
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Countries : |
·
·
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PRODUCTION STATUS As on (31.003.2011)
|
Particulars |
Unit |
Licensed
Capacity |
Installed
Capacity |
Actual
Production |
|
PP Woven Fabrics/Bags |
Tons |
|
900 Per Month |
750 Per Month |
GENERAL INFORMATION
|
Customers : |
Wholesalers, End users |
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No. of Employees : |
428 (Approximately) (28 – in Office, In Factory – 400) |
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Bankers : |
Ing Vysya Bank Limited, Ground Floor, G-2A and G -2B, “A” Wing, Poonam
Cahmbers, Dr. A.B Raod, Worli, New Delhi – 400703, Maharashtra, India |
|||||||||||||||||||||||||||||||||||||||
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Facilities : |
Rs.
In Millions
|
|
|
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Banking
Relations : |
-- |
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|
|
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Auditors : |
|
|
Name : |
K.M Garg and Company Chartered Accountant |
|
Address : |
603/604, Unique Tower, Off. S.V Road, Goregaon (West), Mumbai, |
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Pan No.: |
AAEFK4654J |
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|
|
|
Subsidiary
Associates: as on 31.03.2010 |
Supreme Polymeave Private Limited |
|
|
|
|
Other Related
Party: As on 31.03.2010 |
·
The Maheshwari Garaphite Udyog Private Limited ·
Sampat Kumar Bang ·
Ramchandra Shivnarayan Sons ·
Bang Overseas
Limited |
CAPITAL STRUCTURE
As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2000000 |
Equity Shares |
Rs.10/- each |
Rs.20.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1320000 |
Equity Share |
Rs.10/- each |
Rs.13.200
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 |
13.200 |
13.200 |
13.200 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
165.750 |
140.898 |
94..417 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
178.950 |
154.098 |
107.617 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
176.843 |
155.423 |
117.494 |
|
|
2] Unsecured Loans |
42.944 |
1.433 |
28.520 |
|
|
TOTAL BORROWING |
219.787 |
156.856 |
146.014 |
|
|
DEFERRED TAX LIABILITIES |
15.118 |
11.893 |
8.865 |
|
|
|
|
|
|
|
|
TOTAL |
413.855 |
322.847 |
262.496 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
237.294 |
207.778 |
157.564 |
|
|
Capital work-in-progress |
1.616 |
23.519 |
0.886 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.176 |
0.197 |
0.197 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
140.430
|
67.744 |
50.371 |
|
|
Sundry Debtors |
111.459
|
79.501 |
77.724 |
|
|
Cash & Bank Balances |
7.483
|
9.345 |
4.832 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
79.755
|
58.497 |
36.257 |
|
Total
Current Assets |
339.127
|
215.087 |
169.184 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditor |
97.762
|
75.405 |
38.879 |
|
|
Other Current Liabilities |
5.816 |
2.565 |
0.000 |
|
|
Provisions |
60.780
|
45.764 |
26.456 |
|
Total
Current Liabilities |
164.358
|
123.734 |
65.335 |
|
|
Net Current Assets |
174.769
|
91.353 |
103.849 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
413.855 |
322.847 |
262.496 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
SALES |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
EXPENSES |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
41.293 |
63.374 |
33.235 |
|
|
|
|
|
|
|
Less |
PROVISION FOR TAX |
14.717 |
18.674 |
12.002 |
|
|
|
|
|
|
|
Less |
OTHER
PROVISION |
3.224 |
3.028 |
(0.458) |
|
|
|
|
|
|
|
|
PROFIT AFTER TAX |
23.352 |
41.672 |
21.691 |
|
|
|
|
|
|
|
|
Earnings Per
Share |
17.69 |
NA |
NA |
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
NA
|
NA |
NA |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
NA
|
NA |
NA |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
7.16
|
14.99 |
10.17 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.23
|
0.41 |
0.31 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
2.15
|
1.82 |
1.96 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.06
|
1.74 |
2.58 |
LOCAL AGENCY FURTHER INFORMATION
|
Available
in Report [Yes/No] |
|
|
Year
of Establishment |
Yes |
|
Locality
of the Firm |
Yes |
|
Constitution
of the firm |
Yes |
|
Premises
details |
Yes |
|
Type
of Business |
Yes |
|
Line
of Business |
Yes |
|
Promoters
background |
Yes |
|
No.
of Employees |
Yes |
|
Name
of Person Contacted |
Yes |
|
Designation
of contact person |
Yes |
|
Turnover
of firm for last three years |
No |
|
Profitability
for last three years |
Yes |
|
Reasons
for variation <> 20% |
Yes |
|
Estimation
for coming financial year |
- |
|
Capital
the business |
Yes |
|
Details
of sister concerns |
No |
|
Major
Suppliers |
No |
|
Major
Customers |
No |
|
Payment
Terms |
Yes |
|
Export
/ Import Details [If Applicable] |
Yes |
|
Market
Information |
- |
|
Litigations
that the firm / promoter involved in |
- |
|
Banking
Details |
Yes |
|
Banking
Facility Details |
Yes |
|
Conduct
of the banking account |
- |
|
Buyer
visit details |
- |
|
Financials,
if provided |
Yes |
|
Incorporation
details, if applicable |
Yes |
|
Last
accounts filed at ROC |
Yes |
|
Major
Shareholders, if applicable |
Yes |
DETAILS OF SUNDRY CREDITORS
Rs. In Millions
|
Particular |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
Sundry Creditors |
|
|
|
|
For Goods |
65.070 |
34.449 |
11.720 |
|
For Expense |
24.123 |
21.701 |
18.751 |
|
For Others |
8.569 |
19.255 |
8.408 |
|
|
97.762 |
75.405 |
38.879 |
OPERATIONS:
The company performance has been under pressure
for the year due to sharp increase in cost of Raw Material as Compared to last
year. The company has registered a Net Profit of Rs.23.351 Millions in the year
against Rs.41.673 Million in the previous year.
However the order position is encouraging and
the directors are confident that the performance of the company will be better
in the current year.
NOTE:
The registers office of the company has been
shifted from 581,
FORM 8:
|
Corporate
identity number of the company |
U22219MH1989PTC052672 |
|
Name of the
company |
BANK POLYPACK DIVISION OF BANG DATA FORMS PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
4 Unit No.50, Kewal Industrial Estate, Senapathi Bapat Marg, Lower
Parel (West) Mumbai -400013, E-Mail: kkbang@banggroup.com |
|
This form is for |
Modification of charge |
|
Charge identification (ID) number of the charge to be modified |
10204233 |
|
Type of charge |
Immovable
Property |
|
Particular of
charge holder |
Ing Vysya Bank Limited, Mittal Towers, A –Wing, Ground Floor, 210 Nariman
Point, Mumbai – 400021, E-Mail: giridharvvrn@ingvysyabank.com
|
|
Nature of
description of the instrument creating or modifying the charge |
Simple Mortgage. |
|
Date of instrument
Creating the charge |
07.06.2012 |
|
Amount secured by
the charge |
Rs.57.000
millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest: No Change Terms of Repayment: No Change Margin: No Change Extent and Operation of the charge: First charge on
the immovable property of the company. Others: Nil |
|
Short particulars
of the property charged |
All that piece and
parcel of the property located at 83/1 and 83/2, in Sy No.95 and 96 in the
Nandur Kesaratigi Industrial Area, with in the limits of Village Nandur
Hobli,Kasaba Taluk District Gulbarga,Karnataka-585101. |
|
Particulars of the present modification |
There is no
change in the limit of Rs.57.000 Millions The limit has been additionally
secured by the immovable property of the company. All other terms
and conditions are remain same. |
Fixed Assets:
·
Land
·
Building
·
Plant and Machinery
·
Furniture and Fixture
·
Office Equipment
·
Computer Software
·
Vehicle
·
Electrical Equipment
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 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.55.15 |
|
|
1 |
Rs.86.30 |
|
Euro |
1 |
Rs.67.73 |
INFORMATION DETAILS
|
Information
Gathered by : |
SBA |
|
|
|
|
Report Prepared
by : |
BYI |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
47 |
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this
report. The assessed factors and their relative weights (as indicated through
%) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit transaction.
It has above average (strong) capability for payment of interest and
principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
- |
NB |
New Business |
- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.