MIRA
INFORM REPORT
|
Report Date : |
26.04.2013 |
IDENTIFICATION DETAILS
|
Name : |
SPRINGWEL MATTRESSES PRIVATE LIMITED |
|
|
|
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Registered
Office : |
A-49, Mangolpuri Industries Area, Phase II, Delhi, Delhi-110034 |
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Country : |
India |
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Financials (as
on) : |
31.03.2010 |
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Date of
Incorporation : |
24.10.1996 |
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Com. Reg. No.: |
55-82880 |
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Capital
Investment / Paid-up Capital : |
Rs. 24.700 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74899DL1996PTC082880 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
DELS10993D |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer and Trader of Springwel Mattresses. |
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|
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|
No. of Employees
: |
200(Approximately) |
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 410000 |
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|
Status : |
Moderate |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having a moderate track record. The management
have fail to failed its financial for 2010-2011, 2011-2012, with the
government department. As per the available financial
of 2010 the company performance seems to be satisfactory. Trade relations are
reported to be fair. Business is active. Payments are unknown. 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 |
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
|
Name : |
Mr. Mukesh |
|
Designation : |
Finance Head |
|
Contact No.: |
91-9810050078 |
|
Date : |
24.04.2013 |
LOCATIONS
|
Registered Office : |
A-49, Mangolpuri Industries Area, Phase II, Delhi, Delhi-110034, India |
|
Tel. No.: |
91-11-47533333/125 |
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Mobile No.: |
91-9810050078 (Mr. Mukesh) |
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Fax No.: |
91-11-27014666 |
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E-Mail : |
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Website : |
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|
Location : |
Rented |
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|
|
|
Factory : |
E-18, E-21, Industrial Area, Sare Khurd, Bhiwadi-301019 Rajasthan
India |
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|
|
|
Regional Offices : |
Located At: · Mumbai ·
Kolkata ·
Ahmedabad ·
Bangalore · Pune |
DIRECTORS
As on: 31.03.2010
|
Name : |
Mr. Paramjeet Singh Chhabra |
|
Designation : |
Director |
|
Address : |
J-126, Ashok Vihar, Phase I, New Delhi-110052, India |
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Date of Birth/Age : |
22.09.1952 |
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Date of Appointment: |
06.05.1997 |
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Din No.: |
00153183 |
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|
|
|
Name : |
Mr. Harinder Singh |
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Designation : |
Director |
|
Address : |
J-126, Ashok Vihar, Phase I, New Delhi-110052, India |
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Date of Birth/Age : |
17.10.1956 |
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Date of Appointment : |
14.07.2010 |
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DIN No.: |
03139724 |
KEY EXECUTIVES
|
Name : |
Mr. Mukesh |
|
Designation : |
Finance Head |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 30.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
Sh. Amndeep Singh |
|
189000 |
|
Sh. Devendra Singh |
|
18500 |
|
Smt. Inder Kaur Chhabra |
|
187400 |
|
Smt. Ruchika Bhatia |
|
100 |
|
Smt. Surinder Kaur |
|
133250 |
|
S. Paramjeet Singh |
|
85500 |
|
Smt. Gurjeet Kaur |
|
61750 |
|
Smt. Paramjeet Kaur |
|
660000 |
|
S Harmeet Singh |
|
500 |
|
S. Paramjeet Singh (Huf) |
|
62500 |
|
Sh. Gurmukh Singh |
|
110000 |
|
Mr. Sudesh Marwah |
|
225000 |
|
Mr. Gagandeep Singh |
|
50000 |
|
Mr. Ram Prakash Marwah (Huf) |
|
140000 |
|
Mr. Ram Prakash Marwah |
|
100000 |
|
S. Harinder Singh (Huf) |
|
20000 |
|
Mr. Puneet Sachdev |
|
70000 |
|
Mr. Harinder Singh |
|
276000 |
|
Nikhil Marwah |
|
80500 |
|
|
|
|
|
Total |
|
2470000 |
Equity Share Break up (Percentage of Total Equity)
As on: 30.09.2011
|
Category |
|
Percentage |
|
|
|
|
|
Directors or relatives of directors |
|
100.00 |
|
|
|
|
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Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Trader of Springwel Mattresses. |
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Imports : |
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Products : |
·
Finished Good ·
Raw Material |
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Countries : |
·
China ·
Denmark |
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Terms : |
|
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Selling : |
Cash / Credit |
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Purchasing : |
Cash / Credit |
GENERAL INFORMATION
|
Customers : |
Wholesalers, Retailers and End Users |
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|
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No. of Employees : |
200(Approximately) |
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|
|
|
Bankers : |
·
HDFC Bank Limited, HDFC Bank House, Senapati
Bapat Marg, Lower Parel (West), Mumbai-400013, Maharashtra, India
|
|
|
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Banking
Relations : |
-- |
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Auditors : |
|
|
Name : |
Ramesh Gupta And Company Chartered Accountants |
|
Address : |
1C/13, Rajnigandha Building, New Rohtak Road, Karol Bagh,
New Delhi- 110005, India |
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Tel. No.: |
91-11-28716329/28714562 |
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Fax No.: |
91-11-28714562 |
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E-Mail : |
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PAN No.: |
AAHPG3536E |
CAPITAL STRUCTURE
As on: 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3000000 |
Equity Shares |
Rs.10/- each |
Rs. 30.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2470000 |
Equity Shares |
Rs.10/- each |
Rs. 24.700
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are in
Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
24.700 |
14.700 |
14.700 |
|
|
2] Share Application Money |
19.000 |
9.500 |
11.000 |
|
|
3] Reserves & Surplus |
58.983 |
32.940 |
22.902 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
102.683 |
57.140 |
48.602 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
3.803 |
5.495 |
35.417 |
|
|
2] Unsecured Loans |
91.283 |
90.302 |
51.183 |
|
|
TOTAL BORROWING |
95.086 |
95.797 |
86.600 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
SUBSIDY |
1.652 |
1.652 |
1.651 |
|
|
|
|
|
|
|
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TOTAL |
199.421 |
154.589 |
136.853 |
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|
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|
|
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
55.348 |
52.998 |
54.111 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.085 |
0.085 |
0.085 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
74.414
|
56.291 |
42.485
|
|
|
Sundry Debtors |
76.648
|
74.848 |
73.363
|
|
|
Cash & Bank Balances |
17.502
|
3.199 |
7.689
|
|
|
Other Current Assets |
1.342
|
2.136 |
8.051
|
|
|
Loans & Advances |
26.150
|
15.716 |
6.724
|
|
Total
Current Assets |
196.056
|
152.190 |
138.312 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
44.607 |
|
|
Other Current Liabilities |
52.436
|
51.236 |
8.111
|
|
|
Provisions |
0.000
|
0.000 |
3.673
|
|
Total
Current Liabilities |
52.436
|
51.236 |
56.391
|
|
|
Net Current Assets |
143.620
|
100.954 |
81.921
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.368 |
0.552 |
0.736 |
|
|
|
|
|
|
|
|
TOTAL |
199.421 |
154.589 |
136.853 |
|
PROFIT & LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
|
360.828 |
|
|
|
Other Income |
|
|
0.094 |
|
|
|
TOTAL (A) |
NA |
NA |
360.922 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Material Cost |
|
|
223.902 |
|
|
|
Administrative Expenses |
|
|
17.310 |
|
|
|
Selling and Distribution Expenses |
NA |
NA |
68.367 |
|
|
|
Established Expenses |
|
|
11.108 |
|
|
|
Pre operative Expenses Written off |
|
|
0.184 |
|
|
|
TOTAL (B) |
NA |
NA |
320.871 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
NA |
NA |
40.051 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
NA |
NA |
10.501 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
37.391 |
18.387 |
29.550 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
6.401 |
6.240 |
6.712 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
30.990 |
12.147 |
22.838 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
NA |
NA |
2.949 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
NA |
NA |
19.889 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
NA |
NA |
13.53 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
NA
|
NA |
5.51 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
NA
|
NA |
6.33 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
12.33
|
5.92 |
11.88 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.30
|
0.21 |
0.47 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.97
|
1.68 |
1.78 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
3.74
|
2.97 |
2.45 |
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 |
Yes |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact person |
Yes |
|
11] |
Turnover of firm for last one 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 |
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 |
No |
|
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 |
No |
|
34] |
External Agency Rating, if available |
No |
FINANCIAL RESULTS
During the year under report, the company has earned a profit of Rs.
30.990 millions after providing depreciation of. Rs. 6.401 millions However due
to working capital funds requirements, the directors regret their inability to
declare any dividend.
OPERATION
During the year under report, the turnover of the company has increased
by approximately 11.21% and profit increased by approximately 61.44%, which is
mainly due to better management of administration over heads, selling &
distribution over heads and financial over heads. The directors foresee a
bright future of the company ahead.
Bankers Charges
Report As Per Registry
|
Corporate identity
number (CIN) or foreign company registration
number of the company |
U74899DL1996PTC082880 |
|
Name of the
company |
SPRINGWEL
MATTRESSES PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in India of the company |
A-49, Mangolpuri
Industrial Area, Phase-Ii, Delhi – 110034, India E-mail : mukesh@springwell.com |
|
This form is for |
Modification
of charge |
|
Charge
identification (ID) number of the charge to be modified |
10238839 |
|
Type of charge |
Immovable
property |
|
Particular of
charge holder |
HDFC BANK
LIMITED, HDFC Bank Housesenapati Bapat Marg, Lower Parel (West), Mumbai –
400013, India E-mail : rbbform8@hdfcbank.com |
|
Nature of
instrument creating charge |
Letter dated
13.02.2013 issued by HDFC Bank Ltd. |
|
Date of
instrument Creating the charge |
13.02.2013 |
|
Amount secured by
the charge |
Rs. 225.000
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 HDFC Bank has
agreed to release/released the Company's immovable properties being lying and
situated at 12, Apparel Park Cum Industrial Area, Katha Bhatoli Kalan, Baddi,
Nalagarh Dist. Salon, from the purview of its mortgage security. However, the
charge created on Immovable properties of the Company situated at E-18, E-21,
Sarekhurd Industrial, Bhiwadi, as
specified in item No.15 shall continue to be the security in favour of the Bank to secure its limit
of Rs.225.000 Millions together with principal, interest, liquidated damages,
costs, charges & expenses. |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
Immovable
Properties situated at E-18, E-21, Sarekhurd Industrial, Bhiwadi. |
|
Date of
instrument modifying the charge |
13.09.2012 |
|
Particulars of
the present modification |
HDFC Bank has
released the Company's immovable properties being lying and situated at 12,
Apparel Park Cum Industrial Area, Katha Bhatoli Kalan, Baddi, Nalagarh Dist.
Salon, from the purview of its mortgage security. However, the charge created
on Immovable properties of the Company being situated at E-18, E-21,
Sarekhurd Industrial, Bhiwadi., shall
continue to be the security in favour of the Bank to secure its limit of
Rs.225.000 Millions. |
Springwel
Mattress partners with NGO
The donor would avail a discount of upto Rs.1500 on every new springwel mattress purchased.
Springwel
Mattresses Private limited announces the launch of its 'Sleep Exchange'
campaign to help destitute homeless children have access to a comfortable
slumber. The two month national campaign encourages consumers to donate their
old, worn out mattresses in the aid of millions who dwell amidst urban poverty.
As a part of this drive Springwel Mattresses Private limited has partnered with
Mother
NGO for Homeless in Delhi and other charitable missions across the
country.
In
a country where around 11 million children have never known a bed other than
rags, newspapers and packing crates, the exchange drive will encourage more and
more donors to come forth and exchange their old mattresses to brand new top of
the line Springwel mattress at a discounted price. The collection drive which
has commenced in Delhi, Mumbai, Bangalore, Ahmedabad and Hyderabad aims to
provide the warmth of a bed to the million destitute deprived of basic
amenities leave aside comfort.
The
donor would avail a discount of upto Rs. 1500 on every new Springwel mattress
purchased. The old mattress would be collected by the NGO from the donor's residence.
As a part of the CSR drive Springwel will donate upto Rs 100 to the respective
NGOs for every mattress collected.
"Charity
they say begins at home. When pavement is a cradle for millions of children,
this scheme would rather turn the way of pursuing a noble cause, while
benefiting the customers as well", said Mr. Harinder Singh Sachdev,
MarketingDirector, Springwel Mattresses Private limited
As
a part of the national drive the company has engaged graphite artists to
capture the campaign by conducting street art in prime location of
Delhi/Mumbai/Bangalore. Locals and passerby will have the opportunity to watch
these artists in action as they paint the streets to mark the launch of the
social drive.
The
strife and tribulations, joy and mirth of the homeless children will come alive
in the brush strokes.Amateur photographers are encouraged to capture these arts
with their lenses.The videos and pictures of these artwork will then be
uploaded on you tube and Facebook. The company has lined up several engaging
activities across various cities to reach a successful culmination to the
drive.
FIXED ASSETS
- Air
Conditioner
- Building
- Cars
- Computer
- Fax
- Land
- Mobile Phone
- Office
Equipment
- Motor Cycle
- Plant and
Machinery
- Scooter
- Typewriter
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. 82.99 |
|
Euro |
1 |
Rs. 70.62 |
INFORMATION DETAILS
|
Information
Gathered by : |
|
|
|
|
|
Report Prepared
by : |
DPH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
4 |
|
--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 |
|
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.