MIRA
INFORM REPORT
|
Report Date : |
16.11.2012 |
IDENTIFICATION DETAILS
|
Name : |
J J POLY IMPEX PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
C-206, Ghatkopar Industrial Estate, L B S Marg, Ghatkopar (West),
Mumbai-400086, Maharashtra |
|
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|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
02.09.2005 |
|
|
|
|
Com. Reg. No.: |
11-155862 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 8.084 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U51490MH2005PTC155862 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer and Exporter of Plastic Refuse Bags. |
|
|
|
|
No. of Employees
: |
Information not given by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
B (29) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 49000 |
|
|
|
|
Status : |
Moderate |
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|
|
|
Payment Behaviour : |
Unknown |
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|
Litigation : |
Clear |
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|
Comments : |
Subject is an established company having moderate track. The latest financials
of the company are not made available. As per previous year, we found that the company’s financials are under
pressure. However, trade relations are reported as fair. Business is active.
Payment terms are unknown. The company can be considered for business dealings with some caution.
|
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
INDIAN ECONOMIC OVERVIEW
India is developing into an open-market economy, yet traces
of its past autarkic policies remain. Economic liberalization, including
industrial deregulation, privatization of state-owned enterprises, and reduced
controls on foreign trade and investment, began in the early 1990s and has
served to accelerate the country's growth, which has averaged more than 7% per
year since 1997. India's diverse economy encompasses traditional village
farming, modern agriculture, handicrafts, a wide range of modern industries,
and a multitude of services. Slightly more than half of the work force is in
agriculture, but services are the major source of economic growth, accounting
for more than half of India's output, with only one-third of its labor force.
India has capitalized on its large educated English-speaking population to
become a major exporter of information technology services and software
workers. In 2010, the Indian economy rebounded robustly from the global
financial crisis - in large part because of strong domestic demand - and growth
exceeded 8% year-on-year in real terms. However, India's economic growth in
2011 slowed because of persistently high inflation and interest rates and
little progress on economic reforms. High international crude prices have
exacerbated the government's fuel subsidy expenditures contributing to a higher
fiscal deficit, and a worsening current account deficit. Little economic reform
took place in 2011 largely due to corruption scandals that have slowed legislative
work. India's medium-term growth outlook is positive due to a young population
and corresponding low dependency ratio, healthy savings and investment rates,
and increasing integration into the global economy. India has many long-term
challenges that it has not yet fully addressed, including widespread poverty,
inadequate physical and social infrastructure, limited non-agricultural
employment opportunities, scarce access to quality basic and higher education,
and accommodating rural-to-urban migration.
|
Source
: CIA |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter in
the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
INFORMATION DECLINED BY
|
Name : |
Mr. Preetem |
|
Designation : |
Accounts Manager |
|
Contact No.: |
91-22-25007155 |
|
Date : |
12.11-2012 |
LOCATIONS
|
Registered Office / Admin Office : |
C-206, Ghatkopar Industrial Estate, L B S Marg, Ghatkopar (West),
Mumbai-400086, Maharashtra, India |
|
Tel. No.: |
91-22-25007155 (8 Lines) |
|
Fax No.: |
91-22-25007166 |
|
E-Mail : |
|
|
Website : |
DIRECTORS
AS ON 30.09.2011
|
Name : |
Mr. Vijayachandran Govindan Menon |
|
Designation : |
Director |
|
Address : |
303, 9, Shubharambh Tower, Manpada, Thane-400607, Maharashtra, India |
|
Date of Birth/Age : |
27.04.1970 |
|
Date of Appointment : |
02.09.2005 |
|
DIN No.: |
00347937 |
|
|
|
|
Name : |
Mr. Joseph John Parakkott |
|
Designation : |
Director |
|
Address : |
1303 / 1304, C Wing, Lake Florence Lake Home Phase 1, Off Adi Shankara
Charya Marg, Mumbai-400076, Maharashtra, India |
|
Date of Birth/Age : |
21.03.1970 |
|
Date of Appointment : |
02.09.2005 |
|
DIN No.: |
01032342 |
|
|
|
|
Name : |
Mr. Samakulam Adhimurthy Viswanathan |
|
Designation : |
Director |
|
Address : |
C 403, Laxminarayan Complex, Sector 12 A, Koparkhairne, Navi
Mumbai-400709, Maharashtra, India |
|
Date of Birth/Age : |
30.07.1963 |
|
Date of Appointment : |
14.05.2008 |
|
DIN No.: |
02179426 |
|
|
|
|
Name : |
Mr. Sanjesh Jinnalal Jain |
|
Designation : |
Additional Director |
|
Address : |
6/7, Pankaj Apartments, Near LVM School, Kotnis Marg, Mahim,
Mumbai-400016, Maharashtra, India |
|
Date of Birth/Age : |
12.09.1972 |
|
Date of Appointment : |
01.04.2010 |
|
DIN No.: |
02436515 |
KEY EXECUTIVES
|
Name : |
Mr. Preetem |
|
Designation : |
Accounts Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2011
|
Names of Shareholders |
No. of Shares |
|
Joseph John Parakkott |
400000 |
|
John Parakkott |
500 |
|
Vijayachandran Govindan Menon |
11900 |
|
Parakkott Investments India Private Limited, India |
396000 |
|
TOTAL
|
808400 |
AS ON 30.09.2011
|
Equity Shares
Break Up |
Percentage of
Holding |
|
Bodies corporate |
48.99 |
|
Directors or relatives of Directors |
51.01 |
|
TOTAL |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Plastic Refuse Bags. |
PRODUCTION STATUS (AS ON : 31.03.2011)
|
Particulars |
Unit |
Production |
|
LLDPE |
MT |
4646.2 |
|
Recycked Agglo |
MT |
0.4 |
|
HDPE |
MT |
2503.8 |
|
PVC |
MT |
648.4 |
|
Poly Propylene |
MT |
1168.4 |
|
LDPE |
MT |
600.0 |
|
EVA |
MT |
165.0 |
|
Plastic Bags |
MT |
354.7 |
GENERAL INFORMATION
|
No. of Employees : |
Information not given by the management |
||||||||||||||||||||||||||||||
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Bankers : |
·
The Saraswat Co-Operative Bank Limited, Prabhat
Bhavan, Block B, 1st Floor, 96, L B S Marg, Opposite Cipla,
Vikhroli (West), Mumbai-400083, Maharashtra, India |
||||||||||||||||||||||||||||||
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Facilities : |
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Banking
Relations : |
-- |
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|
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|
Auditors : |
|
|
Name : |
R Devarajan and Company Chartered Accountant |
|
Address : |
408, Anurag Business Centre, Near Amar Cinema, Chembur, Mumbai-400071,
Maharashtra, India |
|
Tel. No.: |
91-22-67655503 / 67655511 |
|
Fax No.: |
91-22-67655510 |
|
E-Mail : |
|
|
PAN No.: |
AAEFR0229A |
|
|
|
|
Associates : |
·
Aishwarya Plast Exports Private Limited ·
K K Products ·
J J Polyplast Private Limited |
|
|
|
|
Other Related Parties |
·
Parakkott Investments India Private Limited |
CAPITAL STRUCTURE
AS ON 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1000000 |
Equity Shares |
Rs.10/- each |
Rs. 10.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
808400 |
Equity Shares |
Rs.10/- each |
Rs. 8.084
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 |
8.084 |
8.084 |
8.084 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
4.326 |
2.754 |
1.678 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
12.410 |
10.838 |
9.762 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
45.012 |
19.043 |
11.895 |
|
|
2] Unsecured Loans |
49.098 |
23.440 |
15.292 |
|
|
TOTAL BORROWING |
94.110 |
42.483 |
27.187 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.013 |
|
|
|
|
|
|
|
|
TOTAL |
106.520 |
53.321 |
36.962 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
6.748 |
5.751 |
7.209 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.025 |
0.025 |
0.025 |
|
|
DEFERREX TAX ASSETS |
0.112 |
0.069 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
66.470
|
39.227 |
26.280 |
|
|
Sundry Debtors |
85.665
|
39.059 |
20.117 |
|
|
Cash & Bank Balances |
32.946
|
13.140 |
16.607 |
|
|
Other Current Assets |
0.149
|
0.142 |
0.095 |
|
|
Loans & Advances |
60.810
|
31.164 |
26.622 |
|
Total
Current Assets |
246.040
|
122.732 |
89.721 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
130.398 |
70.454 |
51.556 |
|
|
Other Current Liabilities |
14.733
|
3.588 |
7.237 |
|
|
Provisions |
1.274
|
1.214 |
1.200 |
|
Total
Current Liabilities |
146.405
|
75.256 |
59.993 |
|
|
Net Current Assets |
99.635
|
47.476 |
29.728 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
106.520 |
53.321 |
36.962 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
689.166 |
356.899 |
377.535 |
|
|
|
Other Income |
2.540 |
2.840 |
NA |
|
|
|
TOTAL (A) |
691.706 |
359.739 |
NA |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Goods Sold |
667.259 |
333.813 |
|
|
|
|
Payment to and provision for employees |
2.754 |
3.710 |
|
|
|
|
Sales and Distribution Expenses |
2.427 |
5.314 |
|
|
|
|
Establishment and Other Expenses |
3.236 |
4.329 |
|
|
|
|
TOTAL (B) |
675.676 |
347.166 |
NA |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
16.030 |
12.573 |
NA |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
12.806 |
10.281 |
NA |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
3.224 |
2.292 |
1.762 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
1.163 |
0.884 |
0.616 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
2.061 |
1.408 |
1.146 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
0.728 |
0.333 |
0.513 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
1.333 |
1.075 |
0.633 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
2.754 |
1.678 |
NA |
|
|
|
|
|
|
|
|
|
|
APPROPRIATIONS |
|
|
|
|
|
|
|
Excess Provision for Taxation |
0.238 |
0.001 |
NA |
|
|
BALANCE CARRIED
TO THE B/S |
4.325 |
2.754 |
NA |
|
|
|
|
|
|
|
|
|
|
EXPORT VALUE |
0.000 |
11.458 |
NA |
|
|
|
|
|
|
|
|
|
|
IMPORTS VALUE |
375.365 |
196.120 |
NA |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
1.65 |
1.33 |
-- |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
0.19
|
0.30 |
NA |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
0.30
|
0.39 |
0.30 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.81
|
1.10 |
1.18 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.17
|
0.13 |
0.12 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
19.38
|
10.86 |
8.93 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.68
|
1.63 |
1.50 |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
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] |
Promoter's background |
Yes |
|
8] |
No. of employees |
No |
|
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 |
Yes |
|
13] |
Reasons for variation
<> 20% |
----- |
|
14] |
Estimation for coming
financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details
(if applicable) |
Yes |
|
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 |
Yes |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of
Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
No |
SUNDRY CREDITORS
DETAILS
(Rs.
In Millions)
|
Particulars |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
Sundry Creditors
|
130.398 |
70.454 |
51.556 |
|
|
|
|
|
|
TOTAL |
130.398 |
70.454 |
51.556 |
OPERATIONS DURING
THE YEAR
The Company has made a profit after tax of Rs. 1.334 Millions for the
year against the previous year profit of Rs. 1.076 Millions.
PROSPECTS
The Company has achieved turnover of Rs. 689.200 Millions, an increase
of 93% over previous year and moves on to Seventh year of its operation. The
management expects to spread across Northern India in the coming year resulting
in increased turnover.
The Company has established its operation in the state of Himachal
Pradesh, Haryana and is in the process of establishing its office in the state
of Uttar Pradesh, the Company has established these operations with the view of
attracting major manufacturing customer base in these states. This will not
only help in improving the top line but also strengthen the bottom line of the
company.
The Company’s UK office branch operation has made a turnaround during
the current year and expects to start generating standalone profits during the
subsequent year.
FORM 8
|
Corporate
identity number of the company |
U51490MH2005PTC155862 |
|
Name of the
company |
J J POLY IMPEX
PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
C-206, Ghatkopar Industrial Estate, L B S Marg, Ghatkopar (West), Mumbai-400086, Maharashtra, India |
|
This form is for |
Creation of
charge |
|
Type of charge |
·
Book
debts ·
Movable
property (not being pledge) ·
Others |
|
Particular of
charge holder |
The Saraswat Co-Operative Bank Limited, Prabhat Bhavan, Block B, 1st Floor, 96, L B S Marg, Opposite CIPLA, Vikhroli (West), Mumbai-400083, Maharashtra, India |
|
Nature of
instrument creating charge |
Agreement, Dated
30th August 2012, of Hypothecation of Movable Property Including Stock, Book
Debts, etc. Against Adhoc Buyer Credit Limit
for an Amount of Rs. 30.000 Millions |
|
Date of
instrument Creating the charge |
30.08.2012 |
|
Amount secured by
the charge |
Rs.30.000 Millions
|
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of interest As per terms of
Sanction Letter No. SCB: VSME: 4: TMD:
Dated 17th September 2012 Terms of repayment As per terms of
Sanction Letter No. SCB: VSME: 4: TMD:
Dated 17th September 2012 Margin As per terms of
Sanction Letter No. SCB: VSME: 4: TMD:
Dated 17th September 2012 Extent and operation of the charge Adhoc Buyer's
credit limit of Rs. 30.000 Millions for 180 days. |
|
Short particulars
of the property charged (Including location of the property) |
Book Debts, all
Stock, Tangible Movable Property at Borrower's place of business at C-206,
2nd Floor, Ghatkopar Industrial Estate, LBS Marg, Ghatkopar (West), Mumbai -
400086. |
FIXED ASSETS
·
Freehold Land
·
Motor Vehicles
·
Computers
·
Office Equipments
·
Plant and Machinery
·
Electrical Installation
·
Building
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. 54.95 |
|
|
1 |
Rs. 87.10 |
|
Euro |
1 |
Rs. 70.03 |
INFORMATION DETAILS
|
Information
Gathered by : |
PJA |
|
|
|
|
Report Prepared
by : |
DPT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
2 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
|
29 |
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.