MIRA
INFORM REPORT
|
Report Date : |
15.05.2012 |
IDENTIFICATION DETAILS
|
Name : |
DEMAG CRANES AND COMPONENTS (INDIA) PRIVATE LIMITED (w.e.f December
2001) |
|
|
|
|
Formerly Known
As : |
MANNESMANN DEMATIC [ |
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Registered
Office : |
Gat No.330, 332, 333, 334, Nanekarwadi, Chakan, Khed, Pune – 410501, Maharashtra |
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Country : |
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Financials (as
on) : |
31.03.2011 |
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Date of
Incorporation : |
16.07.1997 |
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|
Com. Reg. No.: |
11-109449 |
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Capital
Investment / Paid-up Capital : |
Rs. 30.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U29299MH1997PTC109449 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
PNED03871A |
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|
PAN No.: [Permanent Account No.] |
AABCM9351Q |
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|
Legal Form : |
Private limited liability company |
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|
Line of Business
: |
The company is exclusively engaged in the business materials handling equipment and services. |
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|
No. of Employees
: |
350 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca (23) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Moderate |
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Payment Behaviour : |
Slow |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate track. Profitability
of the company is under pressure. There appears some accumulated losses
recorded by the company. However, trade relations are reported as fair.
Business is active. Payments are reported to be slow. The company can be considered for business dealings on a secured 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/ Head Office/ Factory : |
Gat No.330, 332, 333, 334, Nanekarwadi, Chakan, Khed, Pune – 410501, Maharashtra, India |
|
Tel. No.: |
91-2135-614200 |
|
Fax No.: |
91-2135-614300 |
|
E-Mail : |
nilesh.jajodia@demagcranes.co.in
rajesh.kalyanasundaram@demagcranes.co.in
sachin.kulkarni@demagcranes.co.in
|
|
Website : |
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|
Area : |
5000 sq. ft (approximately) |
|
Location : |
Rented |
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|
Regional Offices: |
Located at: · Pune ·
· Chennai ·
· Kolkata · Vadodara |
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Sales and Services
Offices: |
Located at: ·
·
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|
Branches : |
Located at: ·
·
· Kolkata · Mumbai |
DIRECTORS
AS ON 30.11.2011
|
Name : |
Mr. Suhas Gangadhar Baxi |
|
Designation : |
Managing Director |
|
Address : |
H5/503, |
|
Date of Birth/Age : |
30.11.1966 |
|
Date of Appointment : |
31.08.2006 |
|
DIN No.: |
00649689 |
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 |
U72200PN2003PTC017808 |
TRIPLE
POINT TECHNOLOGY (INDIA) PRIVATE LIMITED |
Director |
25-03-03 |
25-03-03 |
30-04-07 |
Active |
NO |
|
2 |
U29299MH1997PTC109449 |
DEMAG
CRANES AND COMPONENTS (INDIA) PRIVATE LIMITED |
Managing
director |
11-05-09 |
31-08-06 |
- |
Active |
NO |
|
Name : |
Mr. Klaus Peter Hoffmann |
|
Designation : |
Director |
|
Address : |
Thueriengerweg, 20, Schwerte, Germany-58239 |
|
Date of Birth/Age : |
29.04.1962 |
|
Date of Appointment : |
13.06.2008 |
|
DIN No.: |
02959898 |
KEY EXECUTIVES
|
Name : |
Ms. Vrushali Chinmay Oak |
|
Designation : |
Secretary |
|
Address : |
Flat No.4 A-1,Building Sukhwani Udyan Co-operative Housing Society, Pimpari
Chinchwad, Pune-411033, Maharashtra, India |
|
Date of Birth/Age : |
01.12.1982 |
|
Date of Appointment : |
28.11.2011 |
|
Pan No.: |
BOYPS4094F |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.11.2011
|
Names of Shareholders |
No. of Shares |
|
|
|
|
Demag Cranes and Components GmbH – |
869999 |
|
DCC Holdco 5 (FUNF) Gmbh – |
1 |
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|
|
|
Total |
870000 |
AS ON 30.11.2011
|
Equity Shares
Break Up |
Percentage |
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|
|
|
Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s),
Non-resident Indian(s) or Overseas Corporate bodies or Others |
100.00 |
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Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
The company is exclusively engaged in the business materials handling equipment and services. |
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Products : |
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PRODUCTION STATUS (AS ON 31.03.2011)
|
Particulars |
Unit |
Actual Production |
|
EOT Process Cranes |
Nos. |
31 |
|
EOT Cranes |
Nos. |
333 |
|
JIB Cranes |
Nos. |
141 |
|
KBK Cranes |
Nos. |
513 |
|
Chain Hoist |
Nos. |
726 |
|
Drives / Motors |
Nos. |
424 |
GENERAL INFORMATION
|
No. of Employees : |
350 (Approximately) |
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Bankers : |
· ABN Amro Bank, 327, M. G. Road, Pune – 411001, Maharashtra, India · ICICI Bank, M.G. Road, Pune, Maharashtra, India. · Deutche Bank, M.G. Road, Pune, Maharashtra, India. |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
Walker, Chandiok
and Company Chartered Accountant |
|
Address : |
Engineering
Centre, 6th Floor, 9 Matthew Road, Opera House, Mumbai-400004,
Maharashtra, India |
|
Pan. No.: |
AAAFW4298E |
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Ultimate Holding Company : |
· Demag Cranes AG Dusseldorf – Germany |
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Holding Company : |
· Demag Cranes and Components GmbH |
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Fellow Subsidiaries : |
·
Donati Solievamenti Srl Italy ·
Gottwald Port Technologies – GmbH ·
Demag Cranes and Components – United Arab
Emirates ·
Demag Cranes and Components ZA – South Africa ·
Demag Cranes and Components Spa – Italy ·
Demag Cranes and Components – France ·
Demag Cranes and Components – Brazil ·
Demag Cranes and Components – Australia ·
Demag Cranes and Components – Shanghai ·
Kranservice Rheinberg GmbH |
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|
|
|
Entities in which KMP or their relatives exercise
significant influence : |
· Mohinder Puri and Company |
CAPITAL STRUCTURE
AS ON 30.11.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
870000 |
Equity Shares |
Rs.100/- each |
Rs. 87.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
870000 |
Equity Shares |
Rs.100/- each |
Rs. 87.000 Millions |
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|
|
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|
AS ON 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
300000 |
Equity Shares |
Rs.100/- each |
Rs. 30.000 Millions |
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|
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|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
300000 |
Equity Shares |
Rs.100/- each |
Rs. 30.000 Millions |
|
|
|
|
|
NOTE
Of the above 300000 shares of Rs. 100/- each
are held by Demag Cranes and Components GmbH, (formerly known as Mannesmann
Dematic AG, Germany) and it’s nominees.
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 |
30.000 |
30.000 |
30.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
0.000 |
121.977 |
187.764 |
|
|
4] (Accumulated Losses) |
(25.570) |
0.000 |
0.000 |
|
|
NETWORTH |
4.430 |
151.977 |
217.764 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
350.585 |
277.668 |
104.360 |
|
|
TOTAL BORROWING |
350.585 |
277.668 |
104.360 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
355.015 |
429.645 |
322.124 |
|
|
|
|
|
|
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APPLICATION OF FUNDS |
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|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
254.293 |
136.938 |
130.009 |
|
|
Capital work-in-progress |
4.927 |
24.162 |
2.158 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
40.598 |
23.429 |
3.682 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
448.385
|
368.780
|
266.383
|
|
|
Sundry Debtors |
661.716
|
521.392
|
650.294
|
|
|
Cash & Bank Balances |
107.303
|
128.847
|
26.256
|
|
|
Other Current Assets |
0.000
|
0.000
|
0.000
|
|
|
Loans & Advances |
235.584
|
247.870
|
159.924
|
|
Total
Current Assets |
1452.988
|
1266.889 |
1102.857 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
434.022
|
298.134 |
817.825 |
|
|
Other Current Liabilities |
914.632
|
687.171
|
71.258
|
|
|
Provisions |
49.137
|
36.468
|
27.499
|
|
Total
Current Liabilities |
1397.791
|
1021.773 |
916.582 |
|
|
Net Current Assets |
55.197
|
245.116
|
186.275
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
355.015 |
429.645 |
322.124 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Sales |
1779.263 |
1122.965 |
1701.906 |
|
|
|
Income from Services Rendered |
93.550 |
102.294 |
0.000 |
|
|
|
Other Income |
68.165 |
93.035 |
14.799 |
|
|
|
TOTAL |
1940.978 |
1318.294 |
1716.705 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
2060.975 |
1380.315 |
1680.828 |
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
(119.997) |
(62.021) |
35.877 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
32.132 |
23.511 |
13.941 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
(152.129) |
(85.532) |
21.936 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
(17.169) |
(19.746) |
11.217 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
(134.960) |
(65.786) |
10.719 |
|
|
|
|
|
|
|
|
|
|
Prior Period
Expenses |
12.589 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
121.977 |
187.763 |
177.044 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
(25.572) |
121.977 |
187.763 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
FOB Value of Exports |
19.205 |
0.518 |
75.517 |
|
|
TOTAL EARNINGS |
19.205 |
0.518 |
75.517 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Materials, Components and Spares |
752.659 |
559.371 |
847.973 |
|
|
|
Capital Goods |
2.809 |
0.000 |
1.292 |
|
|
TOTAL IMPORTS |
755.468 |
559.371 |
849.265 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
(491.83) |
(219.29) |
-- |
|
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%20PRIVATE%20LIMITED%20-%20180279%2015-May-2012_files/image002.gif){kind=small}
%20PRIVATE%20LIMITED%20-%20180279%2015-May-2012_files/image003.gif){kind=small}
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
(6.95)
|
(4.99) |
0.62
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
(8.55)
|
(7.62) |
1.29
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(8.70)
|
(5.99) |
1.08
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(34.34)
|
(0.56) |
0.10
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
394.67
|
8.55 |
4.69
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.04
|
1.24 |
1.20
|
LOCAL AGENCY FURTHER INFORMATION
|
Check
list by info Agents |
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 |
|
Promoter’s Background |
Yes |
|
No. of Employees |
Yes |
|
Name of Person Contacted |
No |
|
Designation of Contact person |
No |
|
Turnover of Firm for last three years |
Yes |
|
Profitability for last three years |
Yes |
|
Reasons for variation <> 20% |
----- |
|
Estimation for coming financial year |
No |
|
Capital in the business |
Yes |
|
Details of sister concerns |
Yes |
|
Major Suppliers |
No |
|
Major Customers |
No |
|
Payments Terms |
No |
|
Export/ Imports Details (If applicable) |
No |
|
Market Information |
----- |
|
Litigations that the firm/ Promoters Involved in |
----- |
|
Banking details |
Yes |
|
Banking Facility Details |
Yes |
|
Conduct of the Banking Account |
----- |
|
Buyer visit details |
----- |
|
Financials, if provided |
Yes |
|
Incorporation details is applicable |
Yes |
|
Last Accounts filed at ROC |
Yes |
|
Major Shareholders, if available |
Yes |
NOTE:
The Registered office of the company has been shifted from, Demag Centre,
S-255/2, Hinjewadi, Pune – 411057, Maharashtra, India to the present
address w.e.f.12.07.2010
OPERATIONS:
In 2010-11,
company launched mid-segment (M2) products to cater the low cost segment. This
strategy will be useful to expand their market and penetrate erstwhile
untouched areas in Indian market. The new factory is stabilised in terms of work
and factory output. They have also made progress in Order Entry and Sales of
Process Crane products, which is one of the largest products in the portfolio
now.
CONTINGENT
LIABILITIES:
Rs. In Millions
|
Particulars
|
31.03.2011 |
31.03.2010 |
|
|
|
|
|
Guarantees issued by the company’s bankers for advances
received by the company from customers and performance guarantees to
customers* |
274.357 |
236.960 |
|
Excise duty
liability that may arise in respect of matters in appeal** |
0.600 |
-- |
|
Income tax
liability that may arise in respect of matters in appeal** |
31.227 |
-- |
|
Sales tax
liability pending collection of C Forms from registered dealers** |
149.571 |
62.017 |
*secured by a corporate
guarantee given by the ultimate holding company
**net of amounts
provided for in the books of accounts
FIXED ASSETS
·
Leasehold improvements
·
Plant and machinery
·
Furniture’s and fixtures
·
Computer
·
Office equipment
·
Vehicles
·
Computer software
AS PER WEBSITE
PROFILE:
With the comprehensive product range of its two Cranes and
Handling Technology/Drives business units, Subject provides special solutions
in various industries for travel applications, ergonomics and load handling at
the workplace and material flow in production and storage. The third business
unit is dedicated to Service and ensures the economical use of Subject products
with its complete range of services, and thus also lasting customer
satisfaction. Complete control of their own products and understanding the
customer's processes, speaking the customer's language and finding the best
solutions together, are the commitment resulting from a company history going
back more than 180 years.
HISTORY
|
1819 |
Establishment of Mechanische
Werkstätten |
|
1840 |
Start of overhead travelling
crane production. |
|
1910 |
Start of production of hoists
with electric motors. |
|
1939 |
Establishment of Demag Zug
GmbH in Wetter. |
|
1953 |
Start of production of mobile
cranes in Wetter (until 1969). |
|
1961 |
Establishment of Bad
Bergzabern plant for the productiion of electric chain hoists and electrical
components. |
|
1962 |
Take-over of electric motor
manufacturer Conz in |
|
1963 |
Start of series crane
production. |
|
1970 |
Establishment of Demag
Systemtechnik GmbH in |
|
1983 |
Establishment of the Uslar plant
for production of brake motors. |
|
1988 |
Participation in Mechanical
Handling Engineering Limited |
|
1990 |
Start of crane production at
the Luisenthal plant in |
|
1991 |
Acquisition of Hans Fehr AG in
|
|
1992 |
Re-organisation of the Demag
group |
|
1994 |
Establishment of Mannesmann Dematic
Company Limited, |
|
1996 |
Take-over of the Mobile Cranes
Division |
|
1997 |
Company name changed to Mannesmann
Dematic AG, Wetter. |
|
1998 |
Establishment of Mannesmann
Dematic (Middle East), |
|
1999 |
Acquisition of Zasche GmbH,
Nördlingen. |
|
2000 |
Mannesmann Dematic becomes
part of the |
|
2001 |
Atecs Mannesmann AG is taken
over by Siemens AG and Bosch GmbH |
|
2002 |
Demag Cranes and Components is
taken over by a Joint Venture between Siemens (19%) and Kohlberg Kravis
Roberts (81%) |
|
2006 |
Consolidation of Demag Cranes
and Components GmbH and Gottwald Port Technology GmbH under Demag Cranes AG
that successfully goes public at the end of June. |
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. 53.71 |
|
|
1 |
Rs. 86.34 |
|
Euro |
1 |
Rs. 69.23 |
INFORMATION DETAILS
|
Report Prepared
by : |
NIT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
-- |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
-- |
|
--CREDIT LINES |
1~10 |
2 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
23 |
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.