|
Report Date : |
08.06.2012 |
IDENTIFICATION DETAILS
|
Name : |
PREMIUM PAPER AND BOARD INDUSTRIES LIMITED (w.e.f. 17.01.2007) |
|
|
|
|
Formerly Known
As : |
GANDHITEX MULTIPLEX LIMITED (w.e.f. 16.03.2000) GANDHITEX PAPER MILLS LIMITED |
|
|
|
|
Registered
Office : |
John Roberts
Compound, 1st Floor, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2010 |
|
|
|
|
Date of Incorporation
: |
23.04.1996 |
|
|
|
|
Com. Reg. No.: |
11-099075 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.127.537
millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U21010MH1996PLC099075 |
|
|
|
|
TAN No.: [Tax Deduction & Collection
Account No.] |
MUMG08418E |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACG3599F |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturing of Paper and Paper Board. |
|
|
|
|
No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRAs Rating : |
Ba (43) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 1404000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a well
established company having satisfactory track. There appears some dip in the
profitability of the company in the financial year 2009-10. However, financial position of the company
appears to be good. 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 DECLINED
Unable to contact
LOCATIONS
|
Registered Office : |
John Roberts
Compound, 1st Floor, |
|
Tel. No.: |
Not Available |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Administrative Office : |
A/202, Koldongri Co-operative Housing Society, |
|
|
|
|
Corporate Office : |
A/702, Koldongari CHS, Parsiwada, |
|
|
|
|
Factory : |
S.R. No.460, |
DIRECTORS
As on 30.09.2010
|
Name : |
Mr. Praful Ichhalal Gandhi |
|
Designation : |
Managing Director |
|
Address : |
548/11, Gautam Niwas, |
|
Date of Birth/Age : |
24.07.1954 |
|
Qualification: |
B.Com |
|
Date of Appointment : |
01.04.2009 |
|
DIN No.: |
00473209 |
|
|
|
|
Name : |
Mr. Avinash Pravinchandra Gandhi |
|
Designation : |
Whole-Time Director |
|
Address : |
74/1, Krishna Kunj, |
|
Date of Birth/Age : |
03.02.1971 |
|
Qualification: |
F.Y. B.Com |
|
Date of Appointment : |
01.04.2009 |
|
DIN No.: |
00473123 |
|
|
|
|
Name : |
Mr. Mitesh Pravinchandra Gandhi |
|
Designation : |
Whole-Time Director |
|
Address : |
74/1, Krishna Kunj, |
|
Date of Birth/ Age: |
24.12.1975 |
|
Qualification: |
B.Com |
|
Date of Appointment : |
01.04.2009 |
|
DIN No.: |
00682983 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2010
|
Names of Shareholders |
|
No. of Shares |
|
Parimal K. Gandhi |
|
6400 |
|
|
|
100 |
|
Jatin K. Gandhi |
|
132800 |
|
|
|
6900 |
|
|
|
413552 |
|
Vinay |
|
9100 |
|
Mitesh P. Gandhi |
|
152912 |
|
|
|
100 |
|
Avinash P. Gandhi |
|
234000 |
|
|
|
105050 |
|
Neha P. Gandhi |
|
465575 |
|
|
|
75200 |
|
Vasanti P. Gandhi |
|
224883 |
|
Deepali A. Gandhi |
|
44525 |
|
Smita V. Gandhi |
|
473570 |
|
Vinay |
|
273950 |
|
Poonam V. Gandhi |
|
15500 |
|
Parimal K. Gandhi HUF |
|
26000 |
|
|
|
28550 |
|
Jatin K. Gandhi HUF |
|
35450 |
|
Sejuti P. Gandhi |
|
326950 |
|
Priya J. Gandhi |
|
136525 |
|
Dinesh A. Mehta |
|
97500 |
|
|
|
10000 |
|
Satish M. Mehta |
|
234500 |
|
Madhavi D. Parekh |
|
50000 |
|
Radhika Fabrics, |
|
50000 |
|
Rekha L. Mulchandani |
|
10000 |
|
Kishu L. Mulchandani |
|
6000 |
|
Gandhitex Finvest Limited, |
|
3219250 |
|
Binal M. Gandhi |
|
140600 |
|
Ramaben K. Gandhi |
|
191545 |
|
Torrent Real Estate Private Limited, |
|
1727300 |
|
Tulip Real Estate Private Limited, |
|
2319700 |
|
Kshatriya Commodities Private Limited |
|
1509700 |
|
Total |
|
12753687 |
As on 31.03.2011
|
Names of Allottees |
|
No. of Shares |
|
Gandhitex Finvest Private Limited, |
|
432170 |
|
Total |
|
432170 |
As on 30.09.2010
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Bodies
corporate |
|
69.20 |
|
Directors
or relatives of directors |
|
30.80 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing of Paper and Paper Board. |
|
|
|
PRODUCTION STATUS (AS ON 31.03.2010)
|
Particulars |
For
the year ended 31.03.2010
(In tones) |
|
Licensed Capacity |
45000 |
|
Installed Capacity (As certified by the Management) |
45000 |
|
Actual Production |
27313.410 |
GENERAL INFORMATION
|
No. of Employees : |
Information declined by the management |
||||||||||||||||||||||||||||||
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|
|
||||||||||||||||||||||||||||||
|
Bankers : |
v The Shamrao
Vithal Co-operative Bank Limited, C-Chitrapur, CHS Limited, 27 Road, T.T.S III,
Bandra (West), Mumbai 400 050, Maharashtra, India v ICICI Bank
Limited |
||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Chatruvedi and Chaturvedi Chartered Accountants |
|
Address : |
215, Laxmi Plaza, Laxmi Industrial Estate, New Link Road, Andheri
(West), Mumbai 400 053, Maharashtra, India |
|
Mobile No.: |
91-9870528687 |
|
Income-tax
PAN of auditor or auditor's firm : |
AAEPM8950F |
CAPITAL STRUCTURE
After 30.09.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
16000000 |
Equity Shares |
Rs.10/- each |
Rs.160.000 millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
13185857 |
Equity Shares |
Rs.10/- each |
Rs.131.859
millions |
|
|
|
|
|
As on 30.09.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
16000000 |
Equity Shares |
Rs.10/- each |
Rs.160.000 millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
12753687 |
Equity Shares |
Rs.10/- each |
Rs.127.537
millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
127.537 |
119.594 |
99.731 |
|
|
2] Share Application Money (Pending for Allotment) |
17.400 |
23.829 |
18.381 |
|
|
3] Reserves & Surplus |
206.123 |
185.302 |
116.464 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
351.060 |
328.725 |
234.576 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
646.235 |
613.290 |
380.982 |
|
|
2] Unsecured Loans |
103.736 |
65.381 |
32.516 |
|
|
TOTAL BORROWING |
749.971 |
678.671 |
413.498 |
|
|
DEFERRED TAX LIABILITIES |
56.349 |
40.807 |
34.233 |
|
|
|
|
|
|
|
|
TOTAL |
1157.380 |
1048.203 |
682.307 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
734.949 |
431.712 |
455.295 |
|
|
Capital work-in-progress |
21.063 |
265.175 |
2.491 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.501 |
0.501 |
0.501 |
|
|
DEFERRED TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
60.968
|
93.019 |
70.785 |
|
|
Sundry Debtors |
319.923
|
215.444 |
162.961 |
|
|
Cash & Bank Balances |
29.682
|
10.289 |
15.892 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
104.073
|
89.702 |
33.684 |
|
Total
Current Assets |
514.646
|
408.454 |
283.322 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
88.569
|
39.057 |
45.030 |
|
|
Other Current Liabilities |
10.634
|
7.485 |
6.912 |
|
|
Provisions |
14.576
|
11.097 |
7.360 |
|
Total
Current Liabilities |
113.779
|
57.639 |
59.302 |
|
|
Net Current Assets |
400.867
|
350.815 |
224.020 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
1157.380 |
1048.203 |
682.307 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
1080.314 |
850.036 |
742.438 |
|
|
|
Other Income |
7.056 |
3.281 |
5.611 |
|
|
|
TOTAL (A) |
1087.370 |
853.317 |
748.049 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Increase/ Decrease in Closing Stock |
5.144 |
(5.573) |
1.838 |
|
|
|
Cost of Materials |
660.194 |
481.278 |
396.230 |
|
|
|
Manufacturing Expenses |
153.500 |
130.856 |
111.311 |
|
|
|
Foreign Exchange Difference |
0.000 |
3.894 |
0.000 |
|
|
|
Direct Expenses |
95.621 |
76.575 |
104.230 |
|
|
|
Administration & Selling Expenses |
40.595 |
45.088 |
34.788 |
|
|
|
TOTAL (B) |
955.054 |
732.118 |
648.397 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
132.316 |
121.199 |
99.652 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
80.804 |
66.265 |
39.540 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
51.512 |
54.934 |
60.112 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
31.036 |
24.602 |
18.828 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
20.476 |
30.332 |
41.284 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
15.542 |
6.874 |
19.721 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
4.934 |
23.458 |
21.563 |
|
|
|
|
|
|
|
|
|
Add |
MAT CREDIT
RELATING TO EARLIER YEARS |
0.000 |
5.655 |
0.000 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS
BALANCE BROUGHT FORWARD |
80.197 |
51.084 |
29.521 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
85.131 |
80.197 |
51.084 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
0.000 |
32.788 |
23.530 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Material |
267.735 |
225.201 |
144.867 |
|
|
TOTAL IMPORTS |
267.735 |
225.201 |
144.867 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
0.39 |
2.31 |
2.57 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
0.45
|
2.75 |
2.88 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
1.90
|
3.57 |
5.56 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.64
|
3.61 |
5.59 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.06
|
0.09 |
0.18 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
2.46
|
2.24 |
2.02 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
4.52
|
7.09 |
4.78 |
LOCAL AGENCY FURTHER INFORMATION
Details of Sundry Creditors:
|
Particulars |
31.03.2010 (Rs. in millions) |
31.03.2009 (Rs. in millions) |
31.03.2008 (Rs. in millions) |
|
- Sundry
Creditors for Goods |
49.811 |
27.763 |
36.624 |
|
- Sundry Creditors
for Capital Goods |
1.010 |
0.000 |
2.905 |
|
- Sundry
Creditors for Expenses |
37.748 |
11.294 |
5.501 |
|
Total |
88.569 |
39.057 |
45.030 |
|
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) Promoters
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 |
OPERATIONS:
The company has
achieved a Turnover of Rs.1087.370 millions as compared to Rs.850.035 millions
in the previous year. The Directors hope that the company will do better in the
next year.
CONTINGENT LIABILITIES NOT PROVIDED FOR: (As on 31.03.2010)
v Demand of Rs.2.155 millions for A.Y.2007-08 from Income Tax Department.
The Company has filed an appeal in Department.
Bankers Charges
Report as per Registry
|
Corporate
identity number of the company |
U21010MH1996PLC099075 |
||||||||||||||
|
Name of the
company |
PREMIUM PAPER AND BOARD INDUSTRIES LIMITED |
||||||||||||||
|
Address of the
registered office or of the principal place of business in |
John Robert
Compound, E-Mail: premiumpaper@gmail.com |
||||||||||||||
|
This form is for |
Creation of
charge |
||||||||||||||
|
Type of charge |
Book Debts Movable Property
(not being pledge) |
||||||||||||||
|
Particular of
charge holder |
The Shamrao
Vithal Co-operative Bank Limited, C-Chitrapur, CHS Limited, 27 Road, T.T.S
III, Bandra (West), Mumbai 400 050, Maharashtra, India E-Mail: kamathsn@svcbank.com |
||||||||||||||
|
Nature of
description of the instrument creating or modifying the charge |
Joint Deed of
Hypothecation of Fixed Assets |
||||||||||||||
|
Date of
instrument Creating the charge |
31.12.2010 |
||||||||||||||
|
Amount secured by
the charge |
Rs.239.600
millions |
||||||||||||||
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest: SVC-Term Loan
funding of interest (45.200 millions) - PLR-2.50% p.a. Axis-Term Loan
funding of interest (20.100 millions, 6.800 millions and 52.500 millions) - BPLR
+ 5.25% p.a. Terms of
Repayment: SVC-Term Loan
funding of interest (45.200 millions)-repayable completely in 8 years SVS-WCTL-principal
amount repayable from 2012 to 2020 and interest to be paid as and when
debited. Axis-Term Loan funding
of interest (20.100 millions, 6.800 millions and 52.500 millions) - repayable
in 90 installments Margin: As may be decided
by the banks and the company from time to time. Extent and
Operation of the charge: To secure the due
repayment of the facility granted together with all interest, costs, charges
and expenses thereof, granted by the Banks to the Company. Others:
|
||||||||||||||
|
Short particulars
of the property charged |
First Pari Passu
Charge in favour of the Banks of all tangible movable machinery, plant
machinery, fixtures, fittings other installation etc. Second pari passu
charge on the stock and book debts
including present and future stock of RM, Goods in Process, FG and all
stores as well as present and future book debts |
FIXED ASSETS:
v
v
v Plant and Machinery
v Furniture and Fixtures
v Office Equipment
v Factory Equipment
v Computer
v 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 Intl
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 companys 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.85.22 |
|
Euro |
1 |
Rs.69.24 |
INFORMATION DETAILS
|
Information
Gathered by : |
PJA |
|
|
|
|
Report Prepared
by : |
SMN |
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 |
3 |
|
--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 |
|
43 |
This score serves as a reference to assess SCs 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.