MIRA
INFORM REPORT
|
Report Date : |
17.11.2012 |
IDENTIFICATION DETAILS
|
Name : |
SNF ( |
|
|
|
|
Formerly Known
as : |
POLYELECTROLYTE INDIA LIMITED |
|
|
|
|
Registered
Office : |
Plot # 19, JNPC, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
19.09.1989 |
|
|
|
|
Com. Reg. No.: |
01-039377 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs.159.910 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24134AP1989PTC039377 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer and Supplier of Water Polymers. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
A (70) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Maximum Credit Limit : |
USD 4000000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a subsidiary of SPCM SA, It is a well established company having fine track. Financial position
of the company appears to be sound. Trade relations are reported as fair.
Business is active. Payments are reported to be regular and as per
commitments. The company can be considered good for normal 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 – June 30, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
|
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.
LOCATIONS
|
Registered Office : |
Plot # 19, JNPC, |
|
Tel. No.: |
91-891-236050/51,52/305888 |
|
Fax No.: |
91-891-3058800/ 8924-236095 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Corporate Office : |
House No. C-20, |
|
Tel. No.: |
91-891- 2533580/ 581 |
|
Fax No.: |
91-891-2533582 |
|
|
|
|
Factory : |
Plot No. 19/B,
Phase - II, I.D.A, Patancheru - 502 391, Medak District, |
|
Tel. No.: |
91-08455-285997/ 285998 |
|
Fax No.: |
91-08455-242519 |
DIRECTORS
As on 29.09.2011
|
Name : |
Mr. Mulukuntla Satyanarayana Prasad |
||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Managing director |
||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Address : |
201, Block-C, 2nd
Floor, |
||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
02.04.1944 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
08.04.2006 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
DIN No.: |
01097816 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Name : |
Mr. Gadepalli Prabhakara Sastry |
||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Address : |
#18-218, Adarsh
Nagar, H.B Colony, Visakhapatnam-530022, |
||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
08.04.1954 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
09.03.2010 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
DIN No.: |
01393427 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Other Directorship :
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Name : |
Pich Rene Angelo |
||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Address : |
# 6, Rue De Champirol
42270,Saint Priest Enjarez, France |
||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
09.10.1940 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
20.12.2000 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
DIN No.: |
02556997 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Name : |
Hund Rene |
||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Address : |
# 5, Alee Do
Grand Pre 2390, |
||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
08.11.1957 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
09.04.2002 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
DIN No.: |
02557008 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 29.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
SPCM SA |
|
15991047 |
|
SNF SAS |
|
2 |
|
Total |
|
15991049 |
As on 13.02.2012
|
Names of Allottees |
|
No. of Shares |
|
SPCM SA |
|
1295500 |
|
Total |
|
1295500 |
Equity Share Break up (Percentage of Total Equity)
As on 29.09.2011
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Supplier of Water Polymers. |
||||||||
|
|
|
||||||||
|
Products : |
|
PRODUCTION STATUS AS ON 31.03.2011
|
Particulars |
Unit |
Licensed
Capacity |
Installed
Capacity |
Actual
Production |
|
Water Soluble Polymers |
Tonnes |
56370 |
41770 |
24441 |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
|||||||||
|
|
|
|||||||||
|
Bankers : |
The Hongkong and Shanghai Banking Corporation Limited, No. 7, |
|||||||||
|
|
|
|||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Sudit K Parekh and Company Chartered Accountants |
|
Address : |
2nd Floor, Ballard House, Adi Marzban Path, Ballard Pier,
Fort, Mumbai – 400001, |
|
PAN.: |
ABJPC6585G |
|
|
|
|
Where Control Exists: |
SPCM SA, France |
|
|
|
|
Associates : |
·
SNF SAS, France ·
SNF ( ·
SNF Chemical ( ·
Flomin Inc, ·
Eyang Chemical Company Limited, ·
SNF Floerger Philippines Inc ·
KF – SNF Company Limited, ·
Qing dao Aotong Chemical Company Limited |
CAPITAL STRUCTURE
After 29.09.2011
Authorised Capital : Rs.250.000 Millions
Issued, Subscribed & Paid-up Capital : Rs.196.515 Millions
As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
25000000 |
Equity Shares |
Rs.10/- each |
Rs.250.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
15991049 |
Equity Shares |
Rs.10/- each |
Rs.159.910 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 |
159.910 |
133.960 |
141.291 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
855.620 |
624.316 |
316.963 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
1015.530 |
758.276 |
458.254 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
37.865 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
37.865 |
0.000 |
0.000 |
|
|
DEFERRED TAX LIABILITIES |
25.203 |
1.750 |
2.878 |
|
|
|
|
|
|
|
|
TOTAL |
1078.598 |
760.026 |
461.132 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
494.302 |
41.645 |
43.501 |
|
|
Capital work-in-progress |
107.853 |
383.630 |
112.719 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.050 |
0.050 |
0.050 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
334.289
|
176.227 |
156.324 |
|
|
Sundry Debtors |
395.170
|
306.664 |
189.842 |
|
|
Cash & Bank Balances |
155.232
|
23.214 |
9.637 |
|
|
Other Current Assets |
3.820
|
2.261 |
1.221 |
|
|
Loans & Advances |
100.063
|
101.109 |
73.513 |
|
Total
Current Assets |
988.574
|
609.475 |
430.537 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
502.357
|
257.251 |
131.645 |
|
|
Other Current Liabilities |
0.000
|
0.000 |
0.000 |
|
|
Provisions |
9.824
|
17.523 |
(5.970) |
|
Total
Current Liabilities |
512.181
|
274.774 |
125.675 |
|
|
Net Current Assets |
476.393
|
334.701 |
304.862 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
1078.598 |
760.026 |
461.132 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
987.888 |
678.463 |
|
|
|
Other Income |
|
4.950 |
1.395 |
|
|
|
TOTAL (A) |
NA |
992.838 |
679.858 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of goods sold |
|
710.372 |
488.324 |
|
|
|
Operating and Other expenses |
|
142.386 |
127.595 |
|
|
|
TOTAL (B) |
|
852.758 |
615.919 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
|
140.080 |
63.939 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
NA |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
|
140.080 |
63.939 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
|
6.944 |
6.058 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
NA |
133.136 |
57.881 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
NA |
46.873 |
20.915 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H)
(I) |
101.551 |
86.263 |
36.966 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
NA |
200.356 |
163.390 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
NA |
286.619 |
200.356 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
FOB value of exports |
129.604 |
85.265 |
103.984 |
|
|
TOTAL EARNINGS |
129.604 |
85.265 |
103.984 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
832.084 |
538.162 |
406.810 |
|
|
|
Trading Items |
112.665 |
81.017 |
3.076 |
|
|
|
Capital Goods |
16.476 |
62.219 |
0.335 |
|
|
TOTAL IMPORTS |
961.225 |
681.398 |
410.221 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
7.29 |
8.76 |
3.64 |
|
%20PRIVATE%20LIMITED%20-%20200532%2017-Nov-2012_files/image001.gif){kind=small}
%20PRIVATE%20LIMITED%20-%20200532%2017-Nov-2012_files/image002.gif){kind=small}
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
NA
|
8.69 |
5.44 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
NA
|
13.48 |
8.53 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
NA
|
20.44 |
12.21 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
NA
|
0.17 |
0.13 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.54
|
0.36 |
0.27 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.93
|
2.22 |
3.43 |
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 |
No |
|
Type
of Business |
Yes |
|
Line
of Business |
Yes |
|
Promoters
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
the business |
Yes |
|
Details
of sister concerns |
Yes |
|
Major
Suppliers |
No |
|
Major
Customers |
No |
|
Payment
Terms |
No |
|
Export
/ Import Details [If Applicable] |
No |
|
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 |
No |
|
Major
Shareholders, if applicable |
Yes |
|
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
PAN
of Proprietor/Partner/Director, if available |
No |
|
Voter
ID No of Proprietor/Partner/Director, if available |
No |
|
External Agency
Rating, if available |
No |
Bankers Charges
Report as per Registry
|
Corporate
identity number of the company |
U24134AP1989PTC039377 |
|
Name of the
company |
SNF( |
|
Address of the
registered office or of the principal place of business in |
Plot # 19, JNPC, Email : kbgassociates@gmail.com |
|
This form is for |
Modification of
charge |
|
Charge
identification (ID) number of the charge to be modified |
10245263 |
|
Type of charge |
Book Debts Exclusive Charge
on Stock and Receivable |
|
Particular of
charge holder |
The Hongkong and Shanghai Banking Corporation Limited, No. 7, Email : janardhanbhat@hsbc.co.in
|
|
Nature of
instrument creating charge |
1st supplemental
deed of hypothecation for stocks and receivables for both present and future
dated 18-October-2011 for the working capital facilities for INR 180mn. |
|
Date of
instrument Creating the charge |
18.10.2011 |
|
Amount secured by
the charge |
Rs.180.000
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest Interest shall be
payable by the company on the facilities
as per banks tariff, subject however that the bank shall have the right to
change the rate of interest after giving notice to the company Terms of
Repayment In consideration
of banking facilities sanctioned/to be sanctioned by the bank to the company,
the company has hypothecated and charged to the bank on all present and
future Stocks and Receivables of the company to secure the repayments of the
advances by way of Credit facilities together with interest cost and all
other charges Margin The Company shall
maintain such margin as may be specified by the bank from time to time Extent and
Operation of the charge In case the
company fails to fulfill obligation under the agreement, the bank shall be
entitled to take possession of the hypothecated all the present and future
stocks and receivables of the company and sell them by public auction or
private contract and utilise the proceeds in full or part settlement of its
claims |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
Exclusive charge
on all stocks and receivables both present and future of the company via 1st
supplemental deed of hypothecation for stocks and receivables dated
18-October-2011 for INR 180 MN |
|
Particulars of
the present modification |
FIRST paripassu
charge on all moveable assets including stocks and receivables both present
and future, of the company increased from INR 110.000 Millions to INR 180.000
Millions by this modification. |
Contingent
Liabilities (As on 31.03.2011)
·
Income tax matters in dispute (Net of taxes paid in
CY Nil and PY Rs.0.380 Million) – Rs.3.739 Millions
·
Sales tax matters in dispute (Paid under protest in
CY Rs.1.530 Millions and PY Nil) – Rs.2.577 Millions
FIXED ASSETS
·
·
Building
·
Plant and Machinery
·
Furniture and Fixtures
·
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 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.54.99 |
|
|
1 |
Rs.87.21 |
|
Euro |
1 |
Rs.70.22 |
INFORMATION DETAILS
|
Report Prepared
by : |
BYI |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
8 |
|
OPERATING SCALE |
1~10 |
8 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
8 |
|
--PROFITABILIRY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
8 |
|
--LEVERAGE |
1~10 |
8 |
|
--RESERVES |
1~10 |
8 |
|
--CREDIT LINES |
1~10 |
8 |
|
--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 |
|
70 |
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.