MIRA
INFORM REPORT
|
Report Date : |
26.04.2013 |
IDENTIFICATION DETAILS
|
Name : |
LUXOR WRITING INSTRUMENTS PRIVATE LIMITED |
|
|
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Registered
Office : |
229, Okhla Industrial Estate, Phase – III, |
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Country : |
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Financials (as
on) : |
31.03.2012 |
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Date of
Incorporation : |
08.11.1995 |
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Com. Reg. No.: |
55-073683 |
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Capital
Investment / Paid-up Capital : |
Rs. 24.687 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74899DL1995PTC073683 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
DELL02132E |
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|
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PAN No.: [Permanent Account No.] |
AAACL1980D |
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|
Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer of Writing Instruments. |
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No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (42) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 3700000 |
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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 satisfactory track record.
Financial position of the company seems to be improving. The networth of the
company appears to be strong. Trade relations are reported to be fair. Business is active. Payments
are reported to be usual correct as per commitment. The company can be considered for business dealings with some 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) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
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 : |
229, Okhla Industrial Estate, Phase – III, |
|
Tel. No.: |
91-11-43113311, 26849211, 26848891, 26828314, 41613536, 41613537,
26849617, 26835607, (D) 26319137 |
|
Fax No.: |
91-11-26319179, 26847602 |
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E-Mail : |
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|
Website : |
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Overseas Office : |
Luxor UK Limited, ( |
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Factory 1 : |
5, Okhla Industrial Estate, Phase III, |
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Tel. No.: |
91-11-41613540, 41613541, 26827214, 26846106 |
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Fax No.: |
91-11-26821214 |
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Factory 2 : |
# 7, Okhla Industrial Estate, Phase III, |
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Factory 3 : |
# 867, Udyog Vihar, Gurgaon, |
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Factory : |
And also located
at :
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Regional Sales
Office : |
Located at :
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|
Signature Stores
: |
Located at:
|
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|
|
|
For Export Enquiries : |
Techink
Industries C-42, Opposite Subros Factory, Phase – 2, District Gautam Budh Nagar,
Noida - 201 305, Tel: 91-120-3048013 Website : www.best-inks.com email id -: corporateenquiry@luxoroffice.com C-42, Opposite Subros Factory, Phase – 2, District Gautam Budh Nagar,
Noida - 201 305, Tel: 91-120-3047000-28 Fax: 91-120-3047023-24 E-mail : Luxor@vsnl.com Website: www.luxorpen.com email id -: corporateenquiry@luxoroffice.com |
DIRECTORS
As on : 31.08.2012
|
Name : |
Ms. Pooja Jain |
|
Designation : |
Whole Time Director |
|
Address : |
D – 19, Nizamuddin East, |
|
Date of Birth/Age : |
22.10.1974 |
|
Date of Appointment : |
08.11.1995 |
|
DIN No.: |
00055375 |
|
|
|
|
Name : |
Mr. Davinder Kumar Jain |
|
Designation : |
Chairman cum Managing Director |
|
Address : |
D – 19, Nizamuddin East, |
|
Date of Birth/Age : |
19.02.1943 |
|
Date of Appointment : |
08.11.1995 |
|
DIN No.: |
00055350 |
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|
|
|
Name : |
Mr. Vijay Kumar Jain |
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Designation : |
Additional Director |
|
Address : |
B-167, SFS DDA Flats, Sarita Vihar, |
|
Date of Birth/Age : |
05.06.1936 |
|
Date of Appointment : |
01.04.2011 |
|
DIN No.: |
00055376 |
|
|
|
|
Name : |
Mr. Pankaj Jain |
|
Designation : |
Director |
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Address : |
D – 19, Nizamuddin East, |
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Date of Birth/Age : |
13.04.1971 |
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Date of Appointment : |
15.03.1996 |
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DIN No.: |
00055373 |
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MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on : 31.08.2012
|
Names of Shareholders |
No. of Shares |
|
Davinder Kumar Jain |
1599750 |
|
Pooja Jain |
108625 |
|
JHPL Holdings Private Limited, |
641875 |
|
Payal Kapoor |
59250 |
|
Priya Jain |
59250 |
|
Total |
2468750 |
Equity
Share Break up (Percentage of Total Equity)
As on : 31.08.2012
|
Category |
Percentage |
|
Bodies corporate |
26.00 |
|
Directors or relatives of Directors |
74.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Writing Instruments. |
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Products : |
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PRODUCTION STATUS (As on 31.03.2010)
|
Particulars |
Unit |
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Actual
Production |
|
Writing Instruments |
Nos. |
|
|
66084373 |
|
Ink Bottles |
Nos. |
|
|
5525 |
|
Fixtures/ Machines – for captive use/ for sale |
Nos. |
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|
30 |
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GENERAL INFORMATION
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No. of Employees : |
Not Available |
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Bankers : |
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Facilities : |
Rs in Millions
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Auditors : |
|
|
Name : |
S. Kalra and
Associates Chartered Accountants |
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Address : |
24, Manak Vihar, I.P. Extension, Part – II, |
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Tel. No.: |
91-11-22151632 |
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Fax No.: |
91-11-22142850 |
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E-Mail : |
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PAN No.: |
AATPK1847J |
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Associates/ Subsidaries : |
(CIN No. U36991DL1996PTC076707O) |
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Vendors/Other
Associates : |
·
M/s
Kakkar Brothers ·
M/s
Luxor International Private Limited, ·
M/s
Luxor Pen Company ·
M/s L.
P. Pens Private Limited, ·
M/s
Techink Industries ·
M/s
Luxor Infotech Private Limited, ·
M/s ·
M/s
Laguna Holding Private Limited, ·
M/s
Ideal Hitech Engg Equip Private Limited, ·
M/s
Luxor Nano Technology Private Limited, ·
M/s
Processors Corporation Private Limited, ·
M/s
Luxor India Private Limited, ·
M/s
Edenpark Hotels Private Limited, ·
M/s
Hazel Foods Private Limited, |
CAPITAL STRUCTURE
As on : 31.08.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
5000000 |
Equity Shares |
Rs. 10/-each |
Rs. 50.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
2468750 |
Equity Shares |
Rs. 10/-each |
Rs. 24.687 Millions |
|
|
|
|
|
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 |
24.687 |
24.688 |
24.688 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
917.254 |
1575.698 |
1575.698 |
|
|
4] (Accumulated Losses) |
0.000 |
(665.460) |
(674.456) |
|
|
NETWORTH |
941.941 |
934.926 |
925.930 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
543.392 |
389.560 |
174.326 |
|
|
2] Unsecured Loans |
165.000 |
140.350 |
194.850 |
|
|
TOTAL BORROWING |
708.392 |
529.910 |
369.176 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
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TOTAL |
1650.333 |
1464.836 |
1295.106 |
|
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|
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APPLICATION OF FUNDS |
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|
|
|
|
|
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FIXED ASSETS [Net Block] |
1116.270 |
740.918 |
746.307 |
|
|
Capital work-in-progress |
0.000 |
202.055 |
78.314 |
|
|
|
|
|
|
|
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INVESTMENT |
16.260 |
16.260 |
11.260 |
|
|
DEFERRED TAX ASSETS |
14.254 |
67.880 |
98.927 |
|
|
|
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|
|
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
409.086
|
392.691
|
350.214
|
|
|
Sundry Debtors |
288.525
|
192.203
|
166.563
|
|
|
Cash & Bank Balances |
42.673
|
7.477
|
12.859
|
|
|
Other Current Assets |
0.000
|
0.000
|
0.000
|
|
|
Loans & Advances |
93.576
|
74.021
|
68.933
|
|
Total
Current Assets |
833.860
|
666.392 |
598.569 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
242.585
|
177.924
|
201.070
|
|
|
Other Current Liabilities |
72.233
|
44.709
|
29.368
|
|
|
Provisions |
15.493
|
6.036
|
7.833
|
|
Total
Current Liabilities |
330.311
|
228.669 |
238.271 |
|
|
Net Current Assets |
503.549
|
437.723
|
360.298
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
1650.333 |
1464.836 |
1295.106 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
1831.040 |
|
1267.973 |
|
|
|
Other Income |
36.121 |
|
2.563 |
|
|
|
TOTAL (A) |
1867.161 |
1612.440 |
1270.536 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
852.269 |
|
|
|
Administrative Expenses |
|
|
363.319 |
|
|
|
Advertising Expenses |
|
|
(14.828) |
|
|
|
TOTAL (B) |
1799.313 (Including Financial Charges and Depreciation) |
1572.397 (Including Financial Charges and Depreciation) |
1200.760 |
|
|
|
|
|
|
|
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Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
|
|
69.776 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
|
|
29.159 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
|
|
40.617 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
|
|
25.964 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
67.848 |
40.043 |
14.653 |
|
|
|
|
|
|
|
|
|
Less |
TAX (I) |
60.833 |
31.047 |
0.943 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-I) (J) |
7.015 |
8.996 |
13.710 |
|
|
|
|
|
|
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|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
(665.460) |
(674.456) |
(688.166) |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
(658.444) |
(665.460) |
(674.456) |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials, Components & Finished
Goods |
196.001 |
245.594 |
177.527 |
|
|
|
Capital Goods |
18.230 |
19.378 |
7.774 |
|
|
TOTAL IMPORTS |
214.231 |
264.972 |
185.301 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
2.84 |
3.64 |
5.55 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
0.38
|
0.00 |
1.04 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
3.63
|
2.48 |
1.15 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
3.48
|
2.84 |
1.08 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.07
|
0.04 |
0.02 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.75
|
0.57 |
0.40 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.52
|
2.91 |
2.51 |
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 |
Yes |
|
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 |
UNSECURED LOANS :
Rs.
in Millions
|
Particulars |
31.03.2012 |
31.03.2011 |
|
Intercorporate
Borrowings |
104.000 |
-- |
|
Loans from
related parties |
61.000 |
-- |
|
Loans from Directors |
-- |
42.850 |
|
Others |
-- |
97.500 |
|
Total |
165.000 |
140.350 |
OPERATIONS ;
During the year the Company has performed very
well as the sales and other incomes have gone up to Rs.1867.161 Millions, as
against previous years sales and other income of Rs. 1612.203 Millions Also,
Accordingly, the profit before tax for the year has also gone up to Rs. 67.848
Millions as against previous years profit of Rs. 40.043 Millions.
BANKERS CHARGES
REPORT AS PER REGISTRY :
|
Corporate
identity number of the company |
U74899DL1995PTC073683 |
|
Name of the
company |
LUXOR WRITING INSTRUMENTS PRIVATE LIMITED |
|
Address of the registered
office or of the principal place of
business in |
229, Okhla Industrial Estate, Phase – III, E-Mail: mahesh.gupta@luxoroffice.com |
|
This form is for |
Modification of
charge |
|
Charge
identification number of the modified |
10264914 |
|
Type of charge |
·
Immovable
Property ·
Book
Debts ·
Movable
Property ( not being pledge) ·
Other
(Current, Movable and Fixed Assets) |
|
Particular of
charge holder |
CIN No.:
L65110MH1985PLC038137 Kotak Mahindra
Bank Limited, 15-16 Upper Ground Floor, Ambadeep Building, 14, Kasturba
Gandhi Marg, New Delhi – 110 001, India E-Mail: rohan.kapoor@kotak.com |
|
Nature of description
of the instrument creating or modifying the charge |
Supplemental Deed
of hypothecation dated 07/08/2012 |
|
Date of
instrument Creating the charge |
07.08.2012 |
|
Amount secured by
the charge |
Rs. 822.600
Millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest: As per sanction
letter or such other rate as may be prescribed by the bank from time to time. Terms of Repayment: As per Sanction
terms of the facilities sanctioned. Margin: The Company shall
maintain such margin as may be specified by the bank from time to time. Extent and Operation of the charge: To secure the
following credit facilities:- Cash credit Rs.
350.000 Millions Working capital demand
loan (sub limit of cc) Rs. 350.000 Millions Letter of
credit(sub limit of cc) Rs. 50.000 Millions Bank
guarantee(sub limit of cc) Rs. 20.000 Millions Term loan 1Rs.
23.600 Millions (present o/s) Term loan 2 Rs.
71.700 Millions (present o/s) Term loan 3
Rs. 152.300 Millions (present o/s) Term loan 4
Rs. 150.000 Millions Term loan 5
Rs. 75.000 Millions |
|
Short particulars
of the property charged |
1). Plot no. 107 ADM. 7937.50 sq. Mtrs. Sit. In Sector 7, integrated
Industrial Area, Bhel, Ranipur, Haridwar, Uttarakhand 2). Plot no. 867 adm. 1000 square meters and situated in Industrial
Area, Udyog Vihar, Phase v, Gurgaon, Haryana, India 3). Industrial Plot no. 40 situated in Block A, Hosiery Complex,
Phase-ii, Ext., Noida, Dist. Gautam Budh Nagar, Uttar Pradesh, India, adm.
5040 sq mtrs 4. Together with all buildings, structures,
installments, fitments,
plant AND machinery, if any, affixed to
something attached to the earth.
|
|
Date of
instrument modifying the charge |
16.02.2012 |
|
Particulars of
the present modification |
Aggregate
facilities have been enhanced from Rs. 685.000 Millions to Rs. 822.600 Millions
and secured by first and exclusive charge on whole of the borrower's current
assets and moveable fixed assets, both present and future. |
FIXED ASSETS:
- Goodwill
- Trademarks
and Copyrights
- Plant and Machinery
- Moulds
- EDP
- Generator Set
- Office
Equipment
- Electrical
Installation
- Vehicles
- Furniture and
Fixtures
- Leasehold
Improvement
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. 54.17 |
|
|
1 |
Rs. 82.98 |
|
Euro |
1 |
Rs. 70.62 |
INFORMATION DETAILS
|
Report Prepared
by : |
|
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
4 |
|
--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 |
|
42 |
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.