MIRA
INFORM REPORT
|
Report Date : |
07.03.2012 |
IDENTIFICATION DETAILS
|
Name : |
M AND
G IMPEX (INDIA) PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
303,
Kalpak Arcade 19, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
24.08.1992 |
|
|
|
|
Com. Reg. No.: |
08-013475 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 100.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U01310KA1992PTC013475 |
|
|
|
|
IEC No.: |
0793003211 |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCM1343G |
|
|
|
|
Legal Form : |
Private
Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturers
and Exporters of polished granites and rough blocks of various sizes and
shapes. |
|
|
|
|
No. of Employees
: |
110 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (48) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 970000 |
|
|
|
|
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. 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 – September 30, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
LOCATIONS
|
Registered Office : |
303,
Kalpak Arcade 19, Church Street, Bangalore – 560 001, Karnataka, India |
|
Tel. No.: |
91-80-27833383 |
|
Fax No.: |
91-1344-257132 |
|
E-Mail : |
DIRECTORS
AS ON 11.08.2011
|
Name : |
Mr.
Praveen Tekriwal |
|
Designation : |
Managing
Director |
|
Address : |
# 104,
3rd Main, 3rd Cross, Defence Colony, Indira Nagar, |
|
Date of Birth/Age : |
20.10.1968 |
|
Date of Appointment : |
25.02.2002 |
|
DIN No.: |
00183924 |
Other Directorship:
|
S.No. |
CIN |
Name
of the Company |
Current
designation of the director |
Date
of appointment at current designation |
Original
date of appointment |
Date
of cessation |
Company
Status |
Defaulting
status |
|
1 |
U85110KA1992PTC013475 |
M
AND G IMPEX (INDIA)PRIVATE LIMITED |
Managing
director |
25-02-02 |
25-02-02 |
- |
Active |
NO |
|
2 |
U14102KA2006PTC041241 |
R
AND B EXPORTS PRIVATE LIMITED |
Director |
18-12-06 |
18-12-06 |
26-08-10 |
Active |
NO |
|
Name : |
Smt.
Kavita Tekriwal |
|
Designation : |
Director |
|
Address : |
#
104, 3rd Main, 3rd Cross, Defence Colony, Indira Nagar,
|
|
Date of Birth/Age : |
09.10.1971 |
|
Date of Appointment : |
22.12.2004 |
|
DIN No.: |
00184092 |
|
|
|
|
Name : |
Mr.
Badri Prasad Tekeriwal |
|
Designation : |
Director |
|
Address : |
#
104, 3rd Main, 3rd Cross, Defence Colony, Indira Nagar,
|
|
Date of Birth/Age : |
08.07.1937 |
|
Date of Appointment : |
16.01.1996 |
|
DIN No.: |
00236694 |
Other Directorship:
|
S.No. |
CIN |
Name
of the Company |
Current
designation of the director |
Date
of appointment at current designation |
Original
date of appointment |
Date
of cessation |
Company
Status |
Defaulting
status |
|
1 |
U85110KA1992PTC013475 |
M AND
G IMPEX (INDIA)PRIVATE LIMITED |
Director |
16-01-96 |
16-01-96 |
- |
Active |
NO |
|
2 |
U72300KA2003PTC033038 |
MANTHAN
SOFTWARE SERVICES PRIVATE LIMITED |
Director |
05-01-05 |
05-01-05 |
17-07-07 |
Active |
NO |
|
3 |
U14102KA2006PTC041241 |
R AND
B EXPORTS PRIVATE LIMITED |
Director |
18-12-06 |
18-12-06 |
26-08-10 |
Active |
NO |
|
Name : |
Mr. Ajay Jamnadas Jajoo |
|
Designation : |
Additional Director |
|
Address : |
Flat No.201, A Block, Sumangali Sevaram Road, Anand Nagar, B Shriram Shristi
Apartmetn, Bangalore-560032, Karnataka, India |
|
Date of Birth/Age : |
28.10.1957 |
|
Date of Appointment : |
03.11.2010 |
|
DIN No.: |
00401630 |
Other Directorship:
|
S.No. |
CIN |
Name
of the Company |
Current
designation of the director |
Date
of appointment at current designation |
Original
date of appointment |
Date
of cessation |
Company
Status |
Defaulting
status |
|
1 |
L51909KA1985PLC006812 |
GLOBAL
STONE INDIA LIMITED |
Director |
13-10-07 |
28-10-04 |
08-01-09 |
Active |
NO |
|
2 |
U85110KA1992PTC013475 |
M
AND G IMPEX (INDIA)PRIVATE LIMITED |
Director |
11-08-11 |
03-11-10 |
- |
Active |
NO |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 11.08.2011
|
Names of Shareholders |
No. of Shares |
|
B. P. Tekriwal |
222883 |
|
Bhawani Devi Tekriwal |
77700 |
|
Praveen Tekriwal |
99800 |
|
Kavita Tekriwal |
383440 |
|
Master Kush Tekriwal |
58500 |
|
Krishna Kumar Agarwal |
92400 |
|
Gora Devi Tekriwal |
6 |
|
Sitaram Tekriwal |
14 |
|
Rajesh Surana |
14 |
|
Sanjay Kumar |
6 |
|
Shubhagan Tekriwal |
50237 |
|
Shiva Kumar Tekriwal |
15000 |
|
Total |
1000000 |
AS ON 11.08.2011
|
Equity Shares
Break Up |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturers
and Exporters of polished granites and rough blocks of various sizes and
shapes. |
||||
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||||
|
Products : |
|
PRODUCTION STATUS (AS ON 31.03.2011)
|
Particulars |
Unit |
Licensed
Capacity |
Installed
Capacity |
Actual
Production |
|
|
|
|
|
|
|
Granite Slabs, Tiles and Monuments |
Lakh Sq. Ft. |
40.000 |
40.00 |
16.95 |
GENERAL INFORMATION
|
No. of Employees : |
110 (Approximately) |
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Bankers : |
·
State Bank of India, Krishi Bhavan, Hudson
Circle, Bangalore-560001, Karnataka, India
|
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Facilities : |
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Banking
Relations : |
-- |
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|
|
|
Auditors : |
|
|
Name : |
Ganeriwala and
Company Chartered Accountants |
|
Address : |
#437-438, 2nd
Floor, Alankar Pearl Plaza, K. G. Road, Bangalore-560009, Karnataka, India |
|
PAN No.: |
AAIFG4147J |
|
|
|
|
Wholly Owned Subsidiaries : |
Natural Stone Trading Inc. USA |
|
|
|
|
Associates : |
R and B Exports Private Limtied |
CAPITAL STRUCTURE
AS ON 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1000000 |
Equity Shares |
Rs.100/- each |
Rs. 100.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1000000 |
Equity Shares |
Rs.100/- each |
Rs. 100.000 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 |
100.000 |
100.000 |
88.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
143.529 |
121.825 |
40.659 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
243.529 |
221.825 |
128.659 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
255.691 |
145.314 |
124.638 |
|
|
2] Unsecured Loans |
20.000 |
20.000 |
2.544 |
|
|
TOTAL BORROWING |
275.691 |
165.314 |
127.182 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
519.220 |
387.139 |
255.841 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
250.318 |
180.981 |
77.889 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
50.672 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.482 |
0.482 |
0.050 |
|
|
DEFERREX TAX ASSETS |
3.182 |
1.750 |
2.101 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
227.890
|
181.151 |
140.067 |
|
|
Sundry Debtors |
54.203
|
51.240 |
26.414 |
|
|
Cash & Bank Balances |
3.862
|
3.882 |
0.869 |
|
|
Other Current Assets |
9.373
|
7.528 |
0.000 |
|
|
Loans & Advances |
41.435
|
27.538 |
13.107 |
|
Total
Current Assets |
336.763
|
271.339 |
180.457 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
38.824
|
50.462 |
59.403 |
|
|
Other Current Liabilities |
35.137
|
21.016 |
2.257 |
|
|
Provisions |
2.428
|
2.519 |
1.971 |
|
Total
Current Liabilities |
76.389
|
73.997 |
63.631 |
|
|
Net Current Assets |
260.374
|
197.342 |
116.826 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
4.864 |
6.584 |
8.303 |
|
|
|
|
|
|
|
|
TOTAL |
519.220 |
387.139 |
255.841 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
496.662 |
382.458 |
249.300 |
|
|
|
Other Income |
|
3.247 |
0.000 |
|
|
|
TOTAL (A) |
496.662 |
385.705 |
249.300 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Raw Material Consumed |
|
220.060 |
|
|
|
|
Consumables Used |
|
44.981 |
|
|
|
|
Decrease in Stock of DEPB |
432.096 |
0.000 |
213.225 |
|
|
|
Purchase of Traded Goods |
|
11.193 |
|
|
|
|
Manufacturing Expenses |
|
96.038 |
|
|
|
|
Administrative Expenses |
|
26.630 |
|
|
|
|
Loss on sale of Fixed Assets |
|
0.913 |
|
|
|
|
Loss on Sale of Mutual Funds |
|
0.001 |
|
|
|
|
(Increase) in Stock of Finished Goods |
|
(64.947) |
|
|
|
|
TOTAL (B) |
432.096 |
334.869 |
213.225 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
64.566 |
50.836 |
36.075 |
|
|
|
|
|
10.453 |
11.194 |
|
|
Less |
FINANCIAL
EXPENSES (D) |
14.225 |
|
|
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
50.341 |
40.383 |
24.881 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
24.652 |
24.637 |
14.725 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
25.689 |
15.746 |
10.156 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
1.986 |
0.965 |
(4.010) |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
23.703 |
14.781 |
14.166 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
NA |
22.807 |
8.641 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
NA |
20.000 |
0.000 |
|
|
BALANCE CARRIED
TO THE B/S |
NA |
17.588 |
22.807 |
|
|
|
|
|
|
|
|
|
|
EXPORT VALUE |
14.485 |
244.983 |
151.283 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
46.748 |
18.401 |
9.127 |
|
|
|
Stores & Spares |
0.000 |
31.112 |
31.365 |
|
|
|
Capital Goods |
71.349 |
2.241 |
29.496 |
|
|
|
Others |
0.000 |
0.850 |
0.000 |
|
|
TOTAL IMPORTS |
118.097 |
52.604 |
69.988 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
|
16.60 |
19.17 |
|
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KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
4.77
|
3.83 |
5.68 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
NA
|
4.12 |
4.07 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
4.35
|
3.47 |
3.90 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.11
|
0.07 |
0.08 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.45
|
1.08 |
1.48 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
4.41
|
3.67 |
2.84 |
LOCAL AGENCY FURTHER INFORMATION
Last financial year has been a year of great
difficulties for industries, specially for exporters-
1)
Since second half of financial year 2008-09 the global
economy was passing through the worst economic recession ever. During the year
2010-11 there were good signs of improvement. Although Indian economy has
almost recovered and come back to normalcy but exporters and specially to USA
are still passing through the crunch.
2)
The power situation in Tamilnadu although improved
over the past year but supply was only 60% of the total requirement, forcing
industries to operate on captive power with increased cost.
Inspite of all odds, the Board of Directors have pleasure in informing
you about the steps taken and results achieved during the year –
1)
The company has achieved a turnover of Rs 496.600
Millions against Rs 385.700 Millions in year 2009-10, a growth of 29%
2)
The company had completed the capacity expansion
(from 27 Lacs Sq. ft. To 40 Lacs Sq. ft.), undertaken during middle of this
financial year and the commercial production was started from 1st
April,2011
3)
The Board of Directors has appointed Mr. Ajay Jajoo
– President as additional director from 17.11.2010
OPERATIONS:
The company is,
expanding its market base all over the world. The company is also constantly
expanding its customer base in European markets like U.K., Belgium, Netherland,
Germany, Italy etc. These efforts have resulted into growth of about 30% in
total annual sales compared to last year.
Company is
constantly reviewing and entering into arrangements with few quarries and mine
owners to ensure uninterrupted supply of quality granite blocks.
CONTINGENT
LIABILITY NOT PROVIDED FOR
(Rs.
In Millions)
|
Particulars |
31.03.2011 |
31.03.2010 |
|
Export Bills Discounted |
57.214 |
35.815 |
FORM 8
|
Corporate
identity number of the company |
U85110KA1992PTC013475 |
|
Name of the
company |
M AND G IMPEX
(INDIA)PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
303, Kalpak Arcade 19, Church Street, Bangalore – 560 001, Karnataka, India |
|
This form is for |
Modification of
charge |
|
Type of charge |
Immovable property
Book debts Movable property
(not being pledge) Others |
|
Particular of
charge holder |
State Bank of India, Krishi Bhavan, Hudson Circle, Bangalore-560001, Karnataka, India |
|
Nature of
instrument creating charge |
Supplemental agreement
of hypothecation of goods and assets for increase in the overall limit letter regarding
the grant of individual limits within the overall limit (all the documents relate to the same
modification) |
|
Date of
instrument Creating the charge |
15.06.2011 |
|
Amount secured by
the charge |
Rs. 429.100
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of interest EPC : Interest @
1.50% above base rate, Effective rate 10.75% p.a. PCFC : 3/6 months
LIBOR + 2.00% p.a. Terms of repayment WC : Repayable on
demand TL : Existing arrangement continues Margin CC : Stocks and
Receivables : 25% LC : 15% BG : 15% Extent and operation of the charge Charge extends by
way of first charge on all the assets throughout the period of sanctioned
limits. Other EM of Residential
land and building bearing No. 104, Defence Officers Colony, HAL II Stage, 3rd
Main, 3rd Cross Indiranagar, Bangalore
Total area 5400 Sq ft and Total built up area of 4187 Sq ft, jointly
belonging to Mr. Badri Prasad Tekriwal, Mr. Praveen Tekriwal and Mrs. Bhawani
Devi Tekriwal. |
|
Short particulars
of the property charged (Including location of the property) |
Hypothecation of
the whole of the present and future stocks of raw materials, finished goods,
book debts, outstanding
monies, receivables, claims, bills and other current assets and fixed assets
belonging to the company EM on co's
immovable properties comprising of land and building situated at Sy. No. 13,
14 and 21, Kamandoddi Village, Hosur Taluk, Krishnagiri District, Tamilnadu
land admeasuring 5.13 Acres |
|
Charge
identification number of the charge to be modified |
10008679 |
|
Date of
instrument modifying the charge |
04.11.2010 |
|
Particulars of
the present modification |
Total limits
enhanced from Rs. 342.900 Millions to Rs. 429.100 Millions. EM on co's
immovable properties comprising of land and buildings situated at Sy. No. 13,
14 and 21, Kamandoddi Village, Hosur Taluk, Krishnagiri District, Tamilnadu
land admeasuring 5.13 Acres. All other terms, conditions and existing
securities to continue. |
FIXED ASSETS
·
Plant and Machinery
·
Electrical Installation
·
Office Equipments
·
Two wheeler
·
Furniture
·
Computers
·
Car
·
Building
·
Land
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. 50.02 |
|
|
1 |
Rs. 79.31 |
|
Euro |
1 |
Rs. 66.02 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--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 |
|
48 |
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.