MIRA INFORM REPORT
|
Report Date : |
12.04.2013 |
IDENTIFICATION DETAILS
|
Name : |
HINDUSTAN PENCILS PRIVATE LIMITED (w.e.f.03.10.2007) |
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|
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|
Formerly Known
As : |
HINDUSTAN PENCILS LIMITED |
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Registered
Office : |
111/112 Himalaya House, |
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Country : |
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Financials (as
on) : |
31.03.2012 |
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Date of
Incorporation : |
15.03.1955 |
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Com. Reg. No.: |
11-009500 |
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Capital
Investment / Paid-up Capital : |
Rs. 29.837 Millions |
|
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|
|
CIN No.: [Company Identification
No.] |
U36991MH1955PTC009500 |
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|
|
PAN No.: [Permanent Account No.] |
AAAAA1234H |
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Legal Form : |
Private Limited Liability Company. |
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Line of Business
: |
Manufacturer and Exporter of Primary School
Stationery. |
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No. of Employees
: |
300 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 3500000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having a satisfactory
track record. The company has incurred loss from its operations during 2012.
However, networth of the company appears to be good. Trade relations are
reported as decent. 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. |
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
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 PARTED BY (GENERAL DETAILS)
|
Name : |
Ms. Archana |
|
Designation : |
Account Department |
|
Contact No.: |
91-22-22614505 |
|
Date : |
10.04.2013 |
LOCATIONS
|
Registered Office : |
111/112 Himalaya House, 79 - Palton Road, Mumbai – 400001,
Maharashtra, India |
|
Tel. No.: |
91-22-22614505 / 06 / 07 |
|
Fax No.: |
91-22-22626444 / 226145808 |
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E-Mail : |
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|
Website : |
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Area
: |
8500 sq. ft. |
|
Location
: |
Owned |
|
|
|
|
Administrative Office : |
510, Himalaya House, |
|
Tel. No.: |
91-22-22614507 |
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Fax No.: |
91-22-22614508 |
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Area
: |
3000 sq. ft. |
|
Location
: |
Owned |
|
|
|
|
Factory 1 : |
217, GIDC, Umergaon – 396171, Gujarat, India |
|
Tel. No.: |
91-260-2562168 |
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Factory 2 : |
No.173, Naricrenpalayam Village, Pollachi, Coimbatore – 642004,
Tamilnadu, India |
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Tel. No.: |
91-4259-232782 |
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|
|
|
Factory 3 : |
Lane No.2, Phse No.14, SIC, Baribrahmna – 181133, Jammu, India |
DIRECTORS
As on 28.09.2012
|
Name : |
Mr. Kirti Bhaidas Sanghvi |
|
Designation : |
Managing Director |
|
Address : |
21 Varsha, 69 B, |
|
Date of Birth/Age : |
19.11.1948 |
|
Date of Appointment : |
01.06.2007 |
|
DIN No.: |
00084975 |
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|
|
|
Name : |
Mr. Harendra Bhaidas Sanghvi |
|
Designation : |
Managing Director |
|
Address : |
25, Sagar Tarang, |
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Date of Birth/Age : |
06.12.1952 |
|
Date of Appointment : |
01.06.2007 |
|
DIN No.: |
00505060 |
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|
|
|
Name : |
Ms. Bharti Koshore Sanghvi |
|
Designation : |
Director |
|
Address : |
17/B, Akash Ganga, B, |
|
Date of Birth/Age : |
30.06.1947 |
|
Date of Appointment : |
11.03.2010 |
|
DIN No.: |
00084838 |
KEY EXECUTIVES
|
Name : |
Mr. Gajanan B. Rajeshirke |
|
Designation : |
Secretary |
|
Address : |
13, Shankar Anand Nagar, Vakola, Santacruz, Mumbai – 400 055,
Maharashtra, India |
|
Date of Birth/Age : |
16.08.1954 |
|
PAN No : |
AACPR7563F |
|
Date of Appointment : |
04.03.1991 |
|
|
|
|
Name : |
Mr. Nitin Purshotam Gupta |
|
Designation : |
Secretary |
|
Address : |
House No – 35, Krishna Nagar, Jammu, Jammu and Kashmir |
|
Date of Birth/Age : |
24.11.1975 |
|
PAN No : |
AEZPG1346Q |
|
Date of Appointment : |
01.06.2004 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 28.09.2012
|
Names of Shareholders |
No. of Shares |
|
Sanghvi B. Kirti, Sanghvi K. Jayshree |
681034 |
|
Sanghvi B. Harendra and Sanghvi H. Harsha |
90135 |
|
Sanghvi H. Harsha and Sanghvi B. Harendra |
27500 |
|
Sanghvi K. Dhruman (Karta of Sanghvi B. Kishore, HUF),
Sanghvi K. Bharti |
21800 |
|
Sanghvi B. Kirti (Karta of Sanghvi B. Kirti, HUF), Sanghvi
K. Jayshree |
50400 |
|
Sanghvi B. Harendra (Karta of Sanghvi B. Harendra HUF),
Sanghvi H. Harsha |
4500 |
|
Sanghvi H. Bhaumik, and Sanghvi B. Harendra |
65800 |
|
Sanghvi K. Dhruman, and Sanghvi K. Bharti |
174033 |
|
Sanghvi K. Bharti and Sanghvi K. Dhruman |
56700 |
|
Sanghvi K. Sanchi, and Sanghvi B. Kirti |
62300 |
|
Parul-Dhruvi Investment Company Private Limited, |
541200 |
|
Harsha-Haren Investment Company Private Limited, |
605800 |
|
Hiralaxmi Bhaidas Investment Company Private Limited, |
600000 |
|
Sanghvi B. Kishore Sanghvi B. Kirti Sanghvi B. Harendra Trustees
: |
2500 |
|
Total |
2983702 |
Equity Share Break up (Percentage of Total Equity)
As on 28.09.2012
|
Equity Shares
Break Up |
Percentage |
|
Bodies corporate |
58.55 |
|
Directors or relatives of Directors |
41.37 |
|
Other top fifty shareholders |
0.08 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Primary School
Stationery. |
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Products : |
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Terms : |
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Selling : |
Cash / Credit |
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Purchasing : |
Cash / Credit |
PRODUCTION STATUS (AS ON 31.03.2011)
|
Particulars |
Unit |
Installed
Capacity |
Actual
Production |
|
|
|
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Pencils |
Boxes
|
1400.00 |
33.98 |
GENERAL INFORMATION
|
Customers : |
Retailers and End Users |
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No. of Employees : |
300 (Approximately) |
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Bankers : |
Tel. No.: 91-22-26464022 |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
Chaturvedi and Shah Chartered Accountants |
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Address : |
714-715, Tulsiani Chambers, 212, Nirimanpoint, Mumbai -
400021, Maharashtra, India |
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PAN No.: |
AAAFC0662N |
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Subsidiaries : |
Hindustan Pencils Lanka (Private) Limited, |
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Enterprises
owned or significantly influenced by key management personnel or their
relatives : |
|
CAPITAL STRUCTURE
As on 28.09.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4000000 |
Equity Shares |
Rs.10/- each |
Rs. 40.000 Millions |
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|
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2983702 |
Equity Shares |
Rs.10/- each |
Rs. 29.837
Millions |
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|
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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 |
29.837 |
29.837 |
29.837 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
847.194 |
885.427 |
872.820 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
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NETWORTH |
877.031 |
915.264 |
902.657 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
461.081 |
637.663 |
304.956 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
82.895 |
|
|
TOTAL BORROWING |
461.081 |
637.663 |
387.851 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
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TOTAL |
1338.112 |
1552.927 |
1290.508 |
|
|
|
|
|
|
|
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APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
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FIXED ASSETS [Net Block] |
784.295 |
724.045 |
497.906 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
117.241 |
|
|
|
|
|
|
|
|
INVESTMENT |
211.515 |
199.240 |
185.518 |
|
|
DEFERRED TAX ASSETS |
18.044 |
6.121 |
7.862 |
|
|
|
|
|
|
|
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
935.593
|
999.644
|
864.881
|
|
|
Sundry Debtors |
78.568
|
147.495
|
183.037
|
|
|
Cash & Bank Balances |
41.114
|
57.037
|
11.399
|
|
|
Other Current Assets |
31.942
|
30.985
|
0.000
|
|
|
Loans & Advances |
67.889
|
143.194
|
427.664
|
|
Total
Current Assets |
1155.106
|
1378.355 |
1486.981 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
230.007
|
177.379
|
163.169
|
|
|
Other Current Liabilities |
549.749
|
514.350
|
512.817
|
|
|
Provisions |
51.092
|
63.105
|
338.823
|
|
Total
Current Liabilities |
830.848
|
754.834 |
1014.809 |
|
|
Net Current Assets |
324.258
|
623.521 |
472.172 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
9.810 |
|
|
|
|
|
|
|
|
TOTAL |
1338.112 |
1552.927 |
1290.508 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
N.A |
|
|
|
|
|
Other Income |
N.A |
|
|
|
|
|
TOTAL |
N.A |
4218.860 |
4010.383 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Administrative Expenses |
NA |
4034.975 |
3712.296 |
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
NA |
4034.975 |
3712.296 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
125.686 |
183.885 |
298.087 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
171.956 |
132.420 |
134.718 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE TAX
|
(46.270) |
51.465 |
163.369 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
(11.878) |
21.711 |
55.812 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
(34.392) |
29.754 |
107.557 |
|
|
|
|
|
|
|
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|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
586.139 |
575.422 |
484.571 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
0.000 |
3.000 |
10.760 |
|
|
|
Dividend |
2.984 |
3.580 |
3.580 |
|
|
|
Tax on Dividend |
0.484 |
0.595 |
0.595 |
|
|
|
Short Provision of Income Tax |
0.000 |
12.375 |
1.802 |
|
|
|
Excess Provision of Income Tax
|
0.000 |
(0.514) |
(0.031) |
|
|
BALANCE CARRIED
TO THE B/S |
548.279 |
586.140 |
575.422 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
FOB Value of Export |
520.415 |
432.087 |
381.704 |
|
|
TOTAL EARNINGS |
520.415 |
432.087 |
381.704 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
|
|
315.130 |
250.349 |
|
|
|
Finished Goods |
363.497 |
3.125 |
4.197 |
|
|
|
Stores & Spares |
|
8.122 |
3.671 |
|
|
|
Capital Goods |
|
150.565 |
41.264 |
|
|
TOTAL IMPORTS |
363.497 |
476.942 |
299.481 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
N.A |
9.97 |
36.05 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
N.A |
0.70 |
2.68 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.39 |
2.45 |
8.23 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.05) |
0.06 |
0.18 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.53 |
0.70 |
1.55 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.39 |
1.83 |
1.47 |
LOCAL AGENCY FURTHER INFORMATION
DETAILS OF SUNDRY
CREDITORS
Rs.
In Millions
|
Particular |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
|
|
|
Creditors due others |
230.007
|
177.379
|
163.169
|
|
Total |
230.007
|
177.379
|
163.169
|
|
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
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 |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
Yes |
|
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 |
CONTINGENT
LIABILITIES
Rs. In Millions
|
Particular |
31.03.2011 |
31.03.2010 |
|
Bank Guarantee |
0.350 |
0.350 |
|
Excise Duty Demand in appeal |
0.417 |
0.417 |
|
Estimated amount of contracts remaining to be executed on capital account and not provided for (Advance Rs.82.462 Millions Previous year Rs.30.618 Millions) |
68.990 |
31.709 |
|
Letter of Credit outstanding |
0.000 |
12.912 |
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate
identity number of the company |
U36991MH1955PTC009500 |
|
Name of the
company |
HINDUSTAN PENCILS PRIVATE LIMITED |
|
Address of the registered
office or of the principal place of
business in |
111/112 Himalaya House, 79 - Palton Road, Mumbai – 400001,
Maharashtra, India. |
|
This form is for |
Creation of Charge |
|
Type of charge |
Movable property (not being pledge) |
|
Particular of
charge holder |
SME Nariman Point
Branch, Mittal Court, A Wing, 1st Floor, Vidhan Bhavan Marg,
Nariman Point, Mumbai – 400 021, Maharashtra, India Email : njbhatia@rediffmil.com |
|
Nature of
instrument creating charge |
Agreement of
Hypothecation of Movable Property |
|
Date of
instrument Creating the charge |
18.02.2011 |
|
Amount secured by
the charge |
Rs. 15.700
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest 12% p.a. or at
such rate as maybe determined by the bank from time to time Terms of Repayment 60 months Margin imported plant
and machinery: 25% local Plant and machinery: 30% auxillary equipments: 40% electrical fittings: 40% Extent and Operation of the charge This is term loan facility Term loan II: Rs 9.550 Millions Term loan III: Rs 2.200 Millions Term loan IV: Rs 2.950 Millions Term loan V: Rs 1.000 Millions All the four terms constitute single term loan facility |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
Hypothecation
of plant and machinery , auxillary
equipments, electrical fittings tangible movable property (both present and
future) belonging to the borrowers and lying and being at the borrowers place
of business at 510, Himalaya House, 79 Palton Road, Mumbai or whereverelse the same may be. |
FIXED ASSETS :
·
Land
·
Leasehold – Land
·
·
Building
·
Office Premises
·
Office Equipments
·
Plant And Machinery
·
Moulds
·
Electrical Installation
·
Factory Equipments
·
Furniture and Fixtures
·
Vehicles
·
Computer Software
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. 54.53 |
|
|
1 |
Rs. 83.60 |
|
Euro |
1 |
Rs. 71.33 |
INFORMATION DETAILS
|
Information
Gathered by : |
PLK |
|
|
|
|
Report Prepared
by : |
NTH |
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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
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.