MIRA INFORM REPORT
|
Report Date : |
04.04.2013 |
IDENTIFICATION DETAILS
|
Name : |
JAYBANAS METALS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Block No. 453/2, Chhatrat, Taluka Kalal, Gandhinagar - 382729, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
25.01.2007 |
|
|
|
|
Com. Reg. No.: |
04-049861 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.6.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U27106GJ2007PTC049861 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
AHMJ03297A |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCJ8384L |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer, Exporter and Importer of Copper and Copper Alloys |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (30) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 79000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having a moderate track record. There appear huge external borrowing recorded by the company which
acts as a threat to the company’s liquidity. The profitability also appears
low. However, trade relations are reported as fair. Business is active.
Payment terms are slow. The company can be considered for business dealings with great
caution. |
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) |
|
India |
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 : |
Block No. 453/2, Chhatrat, Taluka Kalal, Gandhinagar - 382729, |
|
Tel. No.: |
91-2764-234439 / 234495 |
|
Fax No.: |
91-2764-234459 |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
12000 sq. yards |
|
Location : |
Owned |
|
|
|
|
Corporate Office : |
12, Ambica Society, |
|
Tel. No.: |
91-79-24561281 / 82 |
|
Fax No.: |
91-79-27561283 |
|
Area : |
2000 sq. ft. [Leased] |
|
|
|
|
Branch Office : |
35, |
|
Tel. No.: |
91-22-23460071 / 23460248 |
|
Fax No.: |
91-22-23472326 |
DIRECTORS
As on 29.09.2012
|
Name : |
Mr. Vimal Chunilal Sanghvi |
||||||||||||||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||||||||||||||
|
Address : |
2, Sambhavana Flat, Sabarmati, Ahmedabad – 380 005, Gujarat, India |
||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
11.07.1988 |
||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
29.08.2007 |
||||||||||||||||||||||||||||||||||||
|
DIN No.: |
01753839 |
||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||
|
Name : |
Mr. Jitendra Chhaganlal Jain |
||||||||||||||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||||||||||||||
|
Address : |
11, Nalanda Society, Near Naranpura Railway Crossing
Naranpura, Ahmedabad – 380 013, Gujarat, India |
||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
29.10.1979 |
||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
20.08.2007 |
||||||||||||||||||||||||||||||||||||
|
DIN No.: |
00296829 |
||||||||||||||||||||||||||||||||||||
|
|||||||||||||||||||||||||||||||||||||
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 29.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
Bhavna J. Jain |
|
117000 |
|
Chhaganlal M. Shah |
|
138500 |
|
Jitendra C. Jain |
|
93100 |
|
Vimal C. Sanghvi |
|
100000 |
|
Chunnilal F. Sanghvi |
|
80000 |
|
Tipuben C. Sanghvi |
|
18000 |
|
Mukesh C. Sanghvi |
|
34400 |
|
Dimond Trading (Prop. Prakash M. Shah) |
|
1000 |
|
Ramesh F. Shah |
|
9000 |
|
Pramila R. Shah |
|
500 |
|
Dipak F. Shah |
|
8000 |
|
Pavni F. Shah |
|
500 |
|
Total |
|
600000 |
As on 29.09.2012
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer, Exporter and Importer of Copper and Copper Alloys |
|
|
|
|
Products : |
|
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||
|
Bankers : |
|
||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||
|
Facilities : |
(Rs.
In Millions)
|
||||||||||||||||||||||||||||||
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Raman M. Shah and Company Chartered Accountants |
|
Address : |
B – 31, Ghanshyam Avenue, Opposite C. U. Shah College, Income Tax,
Ahmedabad – 380014, Gujarat, India |
|
Tel. No.: |
91-79-27642823 / 27642819 |
|
PAN.: |
AAIFR2139K |
CAPITAL STRUCTURE
As on 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
600000 |
Equity Shares |
Rs.10/- each |
Rs.6.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
600000 |
Equity Shares |
Rs.10/- each |
Rs.6.000
Millions |
|
|
|
|
|
The reconciliation of
the number of shares outstanding as at March 31, 2012 and March 31, 2011 is set
below:
|
Equity shares |
No of Shares |
Rs. In Millions |
|
Shares outstanding at the beginning of the year |
600000 |
6.000 |
|
Add: Shares issued during the year |
0 |
0 |
|
Less: Buy Back/ Forfeited shares |
0 |
0 |
|
Shares outstanding
at the end of the year |
600000 |
6.000 |
The details of shareholder holding more than 5% share is set out below
|
Name of the shareholder |
No of Shares |
% of holding |
|
Bhavna J. Jain |
117000 |
30 |
|
Chhaganlal M. Shah |
138500 |
23 |
|
Jitendra C. Jain |
93100 |
16 |
|
Vimal C. Sanghavi |
100000 |
17 |
|
Chunilal F. Sanghavi |
80000 |
13 |
|
Mukesh C. Sanghavi |
34400 |
6 |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
6.000 |
6.000 |
6.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
13.850 |
10.877 |
14.000 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
(4.476) |
|
|
NETWORTH |
19.850 |
16.877 |
15.524 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
79.424 |
69.806 |
61.135 |
|
|
2] Unsecured Loans |
52.709 |
55.265 |
39.507 |
|
|
TOTAL BORROWING |
132.133 |
125.071 |
100.642 |
|
|
DEFERRED TAX LIABILITIES |
0.094 |
0.131 |
0.218 |
|
|
|
|
|
|
|
|
TOTAL |
152.077 |
142.079 |
116.384 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
28.477 |
30.430 |
34.134 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
68.650
|
46.258 |
23.864 |
|
|
Sundry Debtors |
54.018
|
59.642 |
53.853 |
|
|
Cash & Bank Balances |
2.493
|
2.736 |
6.239 |
|
|
Other Current Assets |
0.063
|
0.036 |
0.000 |
|
|
Loans & Advances |
17.715
|
13.642 |
24.933 |
|
Total
Current Assets |
142.939
|
122.314 |
108.889 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
12.111
|
2.843 |
23.631 |
|
|
Other Current Liabilities |
5.513
|
5.744 |
2.769 |
|
|
Provisions |
1.715
|
2.078 |
0.734 |
|
Total
Current Liabilities |
19.339
|
10.665 |
27.134 |
|
|
Net Current Assets |
123.600
|
111.649 |
81.755 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.495 |
|
|
|
|
|
|
|
|
TOTAL |
152.077 |
142.079 |
116.384 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
369.206 |
343.655 |
228.840 |
|
|
|
Other Income |
NA |
2.117 |
4.001 |
|
|
|
TOTAL |
NA |
345.772 |
232.841 |
|
|
|
|
|
|
|
|
Less |
|
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
NA |
327.978 |
219.595 |
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
NA |
327.978 |
219.595 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
14.861 |
17.794 |
13.246 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL AND
DEPRECIATION EXPENSES |
11.910 |
16.321 |
11.504 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
2.951 |
1.473 |
1.742 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
(0.021) |
0.119 |
0.042 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
2.972 |
1.354 |
1.700 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
4.95 |
2.26 |
2.83 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
NA
|
0.39 |
0.73 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
0.80
|
0.43 |
0.76 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.72
|
0.96 |
1.22 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.15
|
0.09 |
0.11 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
6.66
|
7.41 |
6.48 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
7.39
|
11.47 |
4.01 |
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 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 |
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 |
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 |
Note:
The registered office of the company has been shifted from 11, Nalanda Society,
Near Naranpura Railway, Crossing, Naranpura, Ahmedabad – 380013, Gujarat, India
to present address w.e.f. 29.08.2007
REVIEW OF OPERATION:
The company has made Sales of Rs.369.206 Millions as compared to previous year of Rs. 343.655 Millions and earned net profit/ (Loss) of Rs. 2.952 Millions compare to previous year Rs. 1.473 Millions.
UNSECURED LOAN
Rs.
In Millions
|
Particular |
As
on 31.03.2012 |
As
on 31.03.2011 |
|
Long Term
Borrowing |
|
|
|
Loans from related parties and Others |
|
|
|
Intercorporate Deposits |
25.000 |
27.500 |
|
- Others |
27.497 |
27.687 |
|
Labour Contractor |
0.212 |
0.078 |
|
Total |
52.709 |
55.265 |
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate identity
number of the company |
U27106GJ2007PTC049861 |
|
Name of the
company |
JAYBANAS METALS
PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
Block No. 453/2, Chhatrat, Taluka Kalal, Gandhinagar - 382729,
Gujarat, India |
|
This form is for |
Modification of charge |
|
Charge
identification (ID) number of the charge to be modified |
10253054 |
|
Type of charge |
Immovable property |
|
Particular of
charge holder |
HDFC Bank Limited, HDFC Bank Housesenapati Bapat Marg, Lower Parel (West), Mumbai - 400013, Maharashtra, India |
|
Nature of instrument
creating charge |
Memorandum
recording past transactions of creation of Mortgage by Deposit of Title
Deeds. |
|
Date of
instrument Creating the charge |
30.05.2012 |
|
Amount secured by
the charge |
Rs.129.500
Millions |
|
Brief of the principal
terms an conditions and extent and operation of the charge |
Rate of Interest Interest at the
rate as may be communicated by the Bank from time to time. Terms of Repayment Working Capital
facility shall be payable On Demand. Term Loan
facility shall be repayable in suitable installments. Margin As may be
stipulated by the Bank from time to time. Extent and Operation of the charge The Company
accorded and gave oral consent to Bank to continue to hold and retain the
title deeds (by way of Constructive delivery) in respect of its immovable
properties, as security for repayment of Rs.129.500 Millions by the Company,
together with principal, interest, liquidated damages, costs, charges and
expenses. |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
Immovable property situated at Free Hold Non-Agricultural land for Industrial Purpose of, admeasuring area of about 11331 sq.mtrs. (13552 sq.yrds) or thereabouts together with construction factory shed admeasuring 1924.89 sq.mtrs or thereabouts, situated over the land of Revenue Block/Survey No.453 (paiki), in the Sim of Mouje Chhatral, of Taluka Kalol, District Gandhinagar. |
|
Particulars of
the present modification |
The charge shall
now stand increased from Rs.97.500 Millions to Rs.129.500 Millions, in favour
of the Bank against the equitable mortgage of immovable property being lying
and situated at Chhatral, of Taluka: Kalol, District Gandhinagar. |
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 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.54.39 |
|
|
1 |
Rs.82.05 |
|
Euro |
1 |
Rs.69.59 |
INFORMATION DETAILS
|
Report Prepared
by : |
NTH |
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 |
3 |
|
--LIQUIDITY |
1~10 |
2 |
|
--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 |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
30 |
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.