|
Report Date : |
02.10.2012 |
IDENTIFICATION DETAILS
|
Name : |
BIPICO INDUSTRIES (TOOLS) Private Limited |
|
|
|
|
Registered
Office : |
4/D, 2 Kakad House, 4th Floor, 11 Sir V Thackersey Road,
Mumbai – 400020, Maharashtra |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
18.02.1972 |
|
|
|
|
Com. Reg. No.: |
015621 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs.2.495 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U29220MH1972PTC015621 |
|
|
|
|
Legal Form : |
Private Limited Liability Company
|
|
|
|
|
Line of Business
: |
Manufacturer and Export of Cutting Tools |
|
|
|
|
No. of Employees
: |
100 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (27) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 145748 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having moderate track. Even though the
company has recorded increase in its sales turnover, it has incurred loss
during 2011. However, trade relations are reported as fair. Business is active.
Payments are reported to be slow but correct. The company can be considered 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.
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 |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
BB (Long Term) |
|
Rating Explanation |
Moderate Risk of Default |
|
|
|
|
Rating |
A4+ (Short Term) |
|
Rating Explanation |
Minimal degree of safety and very high credit risk |
|
Date |
25.09.2012 |
RBI DEFAILTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAILTERS’ 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 PARTED BY (GENERAL DETAILS)
|
Name : |
Mr. Sandeep |
|
Designation : |
Import Export Manager |
|
Contact No.: |
91-22-22003881 |
|
Date : |
01.10.2012 |
LOCATIONS
|
Registered Office : |
4/D, 2 Kakad House, 4th Floor, |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
Owned |
|
|
|
|
Corporate Office : |
506/A, Loyus House, 5th Floor, 11 Sir V Thackersey Road,
Mumbai – 400020, Maharashtra, India |
|
Tel. No.: |
91-22-22003881/ 22000747 |
|
Fax No.: |
91-22-22001631 |
|
E-Mail : |
|
|
Area : |
Owned |
|
|
|
|
Factory 1 : |
P O Box No. 36, Billimora, |
|
Tel. No.: |
91-2634-284630/ 284629 |
|
Fax No.: |
91-2634-283256 |
|
E-Mail : |
info@bipicoexp.com (For General Information) sales@bipicoexp.com (For
Domestic Enquiry) exports@bipicoexp.com (For
Exports Enquiry) |
|
Area : |
Owned |
|
|
|
|
Branches : |
Block No.2 and 22, |
|
Tel. No.: |
91-20-27463709/ 711 |
|
Fax No.: |
91-20-27463710 |
|
E-Mail : |
DIRECTORS
AS ON 30.09.2011
|
Name : |
Mr. Pramit Patel |
|
Designation : |
Managing Director |
|
Address : |
52-B, Embassy Apartment, |
|
Date of Birth/Age : |
26.08.1968 |
|
Date of Appointment : |
12.06.1992 |
|
DIN No.: |
00681889 |
|
|
|
|
Name : |
Mrs. Kinnaryben Pramit Patel |
|
Designation : |
Director |
|
Address : |
52-B, Embassy Apartment, |
|
Date of Birth/Age : |
06.11.1967 |
|
Date of Appointment : |
08.09.2003 |
|
DIN No.: |
01997442 |
|
|
|
|
Name : |
Mr. Nupur Bhupendra Patel |
|
Designation : |
Director |
|
Address : |
Anil Kunj, 37th Rd, B/H National, College, Bandra,
Mumbai-400 050 |
|
Date of Birth/Age : |
21.02.1979 |
|
Date of Appointment : |
07.04.2011 |
|
DIN No.: |
01424285 |
|
|
|
|
Name : |
Mrs. Purinmaben K. Patel |
|
Designation : |
Director |
|
Address : |
52-B, Embassy Apartment, |
|
Date of Birth/Age : |
14.04.1938 |
|
Date of Appointment : |
01.06.1994 |
|
DIN No.: |
01997445 |
KEY EXECUTIVES
|
Name : |
Mr. Sandeep |
|
Designation : |
Import Export Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
Kanubhai Patel -HUF |
|
1800 |
|
Purinmaben K. Patel |
|
800 |
|
Bipico Benefit Trust, India |
|
7450 |
|
Pramit Patel |
|
3490 |
|
Tushar Patel and Kanubhai Patel |
|
5615 |
|
Purinmaben K. Patel and Kanubhai Patel |
|
3640 |
|
Kinnary Patel and Pramit Patel |
|
500 |
|
Pramit Patel HUF Throu Karta |
|
1585 |
|
Meha P Patel Throu Guardian Pramit Patel |
|
10 |
|
Master Mihir P. Patel Through Guardian Pramit Patel |
|
10 |
|
Total |
|
24900 |
LIST OF ALLOTTEES AS ON 15.03.2012
|
Names of Shareholders |
|
No. of Shares |
|
Kanubhai Patel |
|
2160 |
|
Purinmaben K. Patel |
|
4440 |
|
Pramit Patel / Kinnary Patel |
|
4921 |
|
Tushar Patel |
|
7489 |
|
Kinnary Patel / Pramit Patel |
|
1133 |
|
Pramit Patel |
|
2143 |
|
Meha P Patel |
|
77 |
|
Mihir P Patel |
|
77 |
|
Bipico Benefit Trust, India |
|
7500 |
|
Total |
|
29940 |
AS ON 30.09.2011
|
Category |
Percentage |
|
Directors or relatives of Directors |
70.00 |
|
Other top fifty shareholders |
30.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Export of Cutting Tools |
|
|
|
|
Exports : |
|
|
Products : |
Cutting Tools |
|
Countries : |
|
|
|
|
|
Imports : |
|
|
Products : |
Raw Materials |
|
Countries : |
|
|
|
|
|
Terms : |
|
|
Selling : |
Cash, Credit |
|
|
|
|
Purchasing : |
Cash, Credit |
GENERAL INFORMATION
|
No. of Employees : |
100 (Approximately) |
||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||
|
Bankers : |
|
||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Dalal and Shah Chartered Accountant |
|
Address : |
The Regency, Office No.11, 1st Floor, |
|
|
|
|
Name : |
Rajendra and Company Chartered Accountant |
|
Address : |
Mumbai, Maharashtra, India |
|
|
|
|
Associates : |
BIPICO Sagen and Workzeug Gmbh Address: Germany |
CAPITAL STRUCTURE
AS ON 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
25000 |
Equity Shares |
Rs.100/- each |
Rs.2.500 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
17450 |
Equity Shares |
Rs.100/-
each |
Rs.1.745
Millions |
|
7500 |
Equity Shares |
Rs.100/-
each |
Rs.0.750
Million |
|
|
|
|
|
Note: Of the above, 6780 equity shares of
face value Rs. 100/- each, were issued to foreign collaborators against supply
of machineries without payment being received in cash.
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 |
2.495 |
2.495 |
2.495 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
33.942 |
33.962 |
32.807 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
36.437 |
36.457 |
35.302 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
64.541 |
56.326 |
63.348 |
|
|
2] Unsecured Loans |
284.780 |
261.545 |
255.072 |
|
|
TOTAL BORROWING |
349.321 |
317.871 |
318.420 |
|
|
DEFERRED TAX LIABILITIES |
12.337 |
11.214 |
10.892 |
|
|
|
|
|
|
|
|
TOTAL |
398.095 |
365.542 |
364.614 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
155.561 |
128.542 |
122.072 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
5.038 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
176.631
|
180.137 |
201.408 |
|
|
Sundry Debtors |
75.837
|
62.616 |
49.497 |
|
|
Cash & Bank Balances |
11.996
|
10.245 |
7.131 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
21.674
|
20.837 |
11.371 |
|
Total
Current Assets |
286.138
|
273.835 |
269.407 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
33.712
|
25.069 |
19.601 |
|
|
Other Current Liabilities |
2.646
|
3.575 |
3.340 |
|
|
Provisions |
7.246
|
8.191 |
8.962 |
|
Total
Current Liabilities |
43.604
|
36.835 |
31.903 |
|
|
Net Current Assets |
242.534
|
237.000 |
237.504 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
398.095 |
365.542 |
364.614 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
326.458 |
252.287 |
222.696 |
|
|
|
Other Income |
2.512 |
0.725 |
1.310 |
|
|
|
TOTAL (A) |
328.970 |
253.012 |
224.006 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL (B) |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
48.992 |
44.524 |
46.746 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
32.378 |
29.969 |
32.382 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
16.614 |
14.555 |
14.364 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
15.515 |
13.051 |
11.684 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
1.099 |
1.504 |
2.680 |
|
|
|
|
|
|
|
|
|
Less |
TAX (I) |
1.206 |
0.414 |
1.515 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-I) (J) |
(0.107) |
1.090 |
1.165 |
|
|
|
|
|
|
|
|
|
Add/ Less |
PRIOR PERIOD
ADJUSTMENT |
0.000 |
(0.175) |
(0.063) |
|
|
|
|
|
|
|
|
|
Add/ Less |
EXCESS/ (SHORT)
PROVISIONS OF TAX |
0.291 |
0.531 |
(0.162) |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
16.536 |
15.481 |
13.374 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
0.100 |
0.100 |
0.000 |
|
|
|
Dividend |
0.174 |
0.249 |
0.000 |
|
|
|
Tax on Dividend |
0.029 |
0.041 |
0.000 |
|
|
|
Provision for Dividend Reserve |
0.000 |
0.000 |
(0.998) |
|
|
|
Tax on Proposed Dividend Reserve |
0.000 |
0.000 |
(0.169) |
|
|
BALANCE CARRIED
TO THE B/S |
16.416 |
16.536 |
15.481 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
NA |
57.319 |
69.515 |
|
|
TOTAL EARNINGS |
NA |
57.319 |
69.515 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
NA |
79.168 |
117.318 |
|
|
|
Tools |
NA |
1.332 |
0.345 |
|
|
|
Chemicals |
NA |
0.207 |
0.189 |
|
|
|
Capital Goods |
NA |
13.570 |
14.092 |
|
|
TOTAL IMPORTS |
NA |
94.277 |
131.944 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
(0.03)
|
0.43 |
0.52 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
0.34
|
0.59 |
1.20 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.25
|
0.37 |
0.68 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.03
|
0.04 |
0.07 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
10.78
|
9.73 |
9.92 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
6.56
|
7.43 |
8.44 |
LOCAL AGENCY FURTHER INFORMATION
SUNDRY CREDITORS DETAILS:
PARTICULARS
|
Rs.
In Millions 31.03.2011 |
Rs.
In Millions 31.03.2010 |
Rs.
In Millions 31.03.2009 |
Sundry Creditors
|
33.712
|
25.069 |
19.601 |
|
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 |
Yes |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
Yes |
|
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 |
Yes |
|
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 |
No |
|
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 |
Yes |
PERFORMANCE
The total revenue of the Company during the year ended 31st March 2011 stood
at Rs.326.458 millions (Previous year
252.287 millions ) which shows a growth of 30% over the year ended 31st March
2010 and incurred a loss of Rs. (0.107) million
as compared to its previous years profit of Rs. 1.090 millions . During the year the Company has incurred a
loss due to increase in the cost of raw material and fixed administrative
expenses.
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.52.78 |
|
|
1 |
Rs.85.16 |
|
Euro |
1 |
Rs.67.79 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Report Prepared
by : |
SDA |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
-- |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--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 |
|
27 |
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.