|
Report Date : |
27.11.2012 |
IDENTIFICATION DETAILS
|
Name : |
OVERSEAS HEALTH CARE PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
# 335 KM Milestone, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
15.09.1993 |
|
|
|
|
Com. Reg. No.: |
16-013719 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.10.000
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24231PB1993PTC013719 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Developing and Manufacturing of Pharmaceutical Formulations. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 330000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
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. 2011 profit and loss of the company is not available. |
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
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.
LOCATIONS
|
Registered Office/ Factory : |
# 335 KM Milestone, National Highway No.1, Phillaur Jalandhar –
144410, Punjab, India |
|
Tel. No.: |
91-1826-222886/ 224128/ 224129 |
|
Fax No.: |
91-1826-222885 |
|
E-Mail : |
|
|
Website : |
DIRECTORS
(AS ON 30.09.2011)
|
Name : |
Mr. Dharam Parul Soni |
|
Designation : |
Director |
|
Address : |
Village Ramgarh, The. Phillaur, District Jalandhar – 144410, Punjab,
India |
|
Date of Birth/Age : |
05.08.1955 |
|
Date of Appointment : |
15.09.1993 |
|
Voter ID No.: |
PB/05/039/033644 |
|
DIN No.: |
01080619 |
|
|
|
|
Name : |
Mrs. Rekha Soni |
|
Designation : |
Director |
|
Address : |
Village Ramgarh, The. Phillaur, District Jalandhar – 144410, Punjab,
India |
|
Date of Birth/Age : |
15.04.1962 |
|
Date of Appointment : |
15.09.1993 |
|
Voter ID No.: |
PB/05/039/034662 |
|
DIN No.: |
01080645 |
|
|
|
|
Name : |
Mr. Baldev Singh |
|
Designation : |
Director |
|
Address : |
306, Live Oak Drive Natchez MS 39120, United States of America |
|
Date of Birth/Age : |
24.05.1958 |
|
Date of Appointment : |
15.09.1993 |
|
DIN No.: |
02505393 |
|
|
|
|
Name : |
Mr. Kuldeep Singh |
|
Designation : |
Director |
|
Address : |
200, Mansfield Drive, Natchez 39120, United States of America |
|
Date of Birth/Age : |
01.03.1961 |
|
Date of Appointment : |
15.09.1993 |
|
DIN No.: |
02459437 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
(AS ON 30.09.2011)
|
Names of Shareholders |
|
No. of Shares |
|
Dharam Parul Soni |
|
390000 |
|
Rattan Singh |
|
360200 |
|
Rekha Soni |
|
10000 |
|
Baldev Singh |
|
119800 |
|
Kuldip Singh |
|
120000 |
|
|
|
|
|
Total |
|
1000000 |
(AS ON 30.09.2011)
Equity Shares Break – up
|
Category |
|
Percentage |
|
|
|
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
60.00 |
|
Directors or relatives of directors |
|
40.00 |
|
|
|
|
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Developing and Manufacturing of Pharmaceutical Formulations. |
||||||||
|
|
|
||||||||
|
Products : |
|
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||||||||
|
Bankers : |
· State Bank of Patiala Personal Banking
Branch, Opposite B.D.O. Office, Phillaur, Jalandhar - 144410, Punjab, India · HDFC Bank Limited |
||||||||||||||||||||||||||||||||||||||||||||||||
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Facilities : |
|
||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Dass Khanna and Company Chartered Accountant |
|
Address : |
B-XX-2815, Gurdev Nagar, Pakhowal Road, Ludhiana – 141001, Punjab,
India |
|
Tel No.: |
91-161-2403029/ 2401230 |
|
Fax No.: |
91-161-2409672 |
|
PAN No.: |
AABFD5151G |
CAPITAL STRUCTURE
(AS ON 29.09.2012)
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2000000 |
Equity Shares |
Rs.10/- each |
Rs.20.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1000000 |
Equity Shares |
Rs.10/- each |
Rs.10.000
Millions |
|
|
|
|
|
(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 |
|
|
|
|
|
|
1000000 |
Equity Shares |
Rs.10/- each |
Rs.10.000
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 |
10.000 |
10.000 |
10.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
71.606 |
70.392 |
62.824 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
81.606 |
80.392 |
72.824 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
129.895 |
126.110 |
113.606 |
|
|
2] Unsecured Loans |
93.025 |
84.814 |
80.004 |
|
|
TOTAL BORROWING |
222.920 |
210.924 |
193.610 |
|
|
DEFERRED TAX LIABILITIES |
3.474 |
5.764 |
4.693 |
|
|
|
|
|
|
|
|
TOTAL |
308.000 |
297.080 |
271.127 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
79.591 |
68.752 |
61.360 |
|
|
Capital work-in-progress |
0.068 |
10.850 |
9.377 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.823 |
0.075 |
0.064 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
48.281
|
34.519 |
21.926 |
|
|
Sundry Debtors |
279.503
|
259.630 |
239.504 |
|
|
Cash & Bank Balances |
13.233
|
8.040 |
7.592 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
11.472
|
32.938 |
28.150 |
|
Total
Current Assets |
352.489
|
335.127 |
297.172 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditor |
66.790
|
61.893 |
55.932 |
|
|
Other Current Liabilities |
62.763
|
59.398 |
46.322 |
|
|
Provisions |
0.074
|
3.405 |
3.756 |
|
Total
Current Liabilities |
129.627
|
124.696 |
106.010 |
|
|
Net Current Assets |
222.862
|
210.431 |
191.162 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
4.656 |
6.972 |
9.164 |
|
|
|
|
|
|
|
|
TOTAL |
308.000 |
297.080 |
271.127 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Sales and Other Income |
|
505.912 |
398.534 |
|
|
|
TOTAL (A) |
|
505.912 |
398.534 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL (B) |
|
466.879 |
363.763 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
|
39.033 |
34.771 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
|
21.241 |
18.778 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
|
17.792 |
15.993 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
|
5.011 |
4.155 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
|
12.781 |
11.838 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
|
5.213 |
3.576 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
|
7.568 |
8.262 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
|
7.57 |
-- |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
NA
|
1.50 |
2.07 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
NA
|
3.16 |
3.30 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
NA
|
0.16 |
0.16 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
4.32
|
4.17 |
4.11 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.72
|
2.69 |
2.80 |
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 |
No |
|
10] |
Designation of contact person |
No |
|
11] |
Turnover of firm for last two years |
Yes |
|
12] |
Profitability for last two 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 |
|
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 |
Yes |
|
34] |
External Agency Rating, if available |
No |
FORM 8
|
This form is for |
Modification of
charge |
|
Charge
identification number of the modified |
90181974 |
|
Corporate
identity number of the company |
U24231PB1993PTC013719 |
|
Name of the
company |
OVERSEAS HEALTH
CARE PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
# 335 KM Milestone
National Highway No.1, Phillaur Jalandhar - 144410, Punjab, India |
|
Type of charge |
Immovable property Book debts Movable property (not being pledge) |
|
Particular of charge
holder |
State Bank of
Patiala Personal Banking
Branch, Opposite B.D.O. Office, Phillaur, Jalandhar – 144410, Punjab, India |
|
Nature of description
of the instrument creating or modifying the charge |
Sanction Letter
dated 21/02/2012 |
|
Date of
instrument Creating the charge |
21.02.2012 |
|
Amount secured by
the charge |
Rs.187.200
Millions |
|
Brief particulars
of the principal terms and conditions and extent and operation of the charge |
Rate of Interest On Cash
Credit(Hyp.) 3.00% above Base rate i.e. 13.50% p.a.(floating) On Term Loan
4.25% above Base rate i.e. 14.75% p.a. On SLC limit
3.50% above base rate i.e.14.00% p.a.(floating) Terms of
Repayment Working Capital
limits repayable on demand. Term loan of
Rs.7.800 Millions is repayable in 54 monthly installments of Rs.0.145 Million
each and Term loan of Rs.4.400 Millions is repayable in 36 monthly installments
of Rs.0.123 Million each start from April 2012. Margin Raw materials
(Domestic and Imported) 25%, Stock in Process
25%, Finished Goods
25%, Receivables(Cover
period 90 days) 40%, Foreign Letter of
Credit 10%. Fresh Term Loan
26.66%. Extent and Operation
of the charge Extent and
operation of the charges is 100%. Others Nil |
|
Short particulars
of the property charged |
Primary WC &
SLC: Hypothecation of all current assets of the company, present and future including
stocks of medicines, receivables, semi finished goods finished goods, goods
in transit other current assets, consumable stores and spares lying at
factory premises and stocks lying with C&F agents of the company. Collateral WC,
SLC and FLC Limit: Extension of charge on all present and future fixed assets
of the company including equitable mortgage of properties available in term
loans. Primary Term Loan
7.800 Millions: (i)Hypothecation of machinery purchased with Bank's
finance.(ii) Equitable mortgage of Land measuring 16 Marlas with building
constructed thereon situated at village Bachowal, Near Gurdwara, Teh.
Phillaur standing in the name of the company. Primary Term Loan
4.400 Millions: Hypothecation of machinery and vehicles costing Rs.6.000
Millions already purchased for which reimbursement by way of Term Loan of
Rs.4.400 Millions is being made. Hypothecation charge to be noted with RTA. Collateral Term
Loan: a) Extension of
charge on existing fixed assets of the company (Other than land and
Building). b) Extension of
charge on equitable mortgage of factory land and building (already mortgage
to the bank) measuring 8 Kanals 6 marlas situated at G.T. Road, Phillaur
standing in the name of the company. c) Extension of
charge on equitable mortgage of land already mortgaged with the bank
measuring 8 kanals with super structure created thereon standing in the name
of the company(adjacent to the above land and building.) Primary FLC: i)
BLs/RRs/GRs/Airway Bills covering import of raw materials. ii) Extension of
charge on current assets of the company. |
|
Date of latest
modification prior to the present modification |
11/12/2010 |
|
Particulars of
the present modification |
CC limit of Rs.130.000
Millions increased to Rs.140.000 Millions consisting of CC(HYP) of Rs.140.000
Millions (with sub limit of BD of Rs.60.000 Millions increased to Rs.65.000
Millions) increased from 130.000 Millions. Stand by line of Credit (SLC) of
Rs.15.000 Millions remain unchanged. Existing TL I of Rs.7.500 Millions and
TLII of Rs.5.650 Millions reduced to Rs. Nil and TL III of Rs.7.800 Millions
remain unchanged. New TL IV of Rs.4.400 Millions has been availed. FLC of
Rs.100 increased to Rs.20.000 Millions Interchangeability from LC to CC. |
FIXED ASSETS:
· Land
· Building
· Plant and Machinery
· Laboratory Equipments
· Office Equipment
· Vehicles
· Furniture and Fixture
· Computers
· Electric Installation
· Air Conditioner
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.55.69 |
|
|
1 |
Rs.89.20 |
|
Euro |
1 |
Rs.72.10 |
INFORMATION DETAILS
|
Report Prepared
by : |
NIT |
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 |
5 |
|
--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 |
|
45 |
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.