MIRA
INFORM REPORT
|
Report Date : |
05.08.2013 |
IDENTIFICATION DETAILS
|
Name : |
THE WIPE HOTWIRE INDIA THERMAL EQUIPMENTS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
3 Kabir Marg, Lucknow – 226001, Uttar Pradesh |
|
|
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|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
24.11.2004 |
|
|
|
|
Com. Reg. No.: |
029254 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.2.595 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U29305UP2004PTC029254 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
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|
|
|
Line of Business
: |
Manufacturer, supplier and exporter of PTFE/ETFE/XLPE insulated heating wires, cables, mats and heating equipment. |
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|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (46) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 190000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
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|
|
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Litigation : |
Clear |
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|
Comments : |
Subject is an established company having a satisfactory track record. Sales and net profit of the company appears to be increasing in 2012. Trade relations are reported as fair. Business is active. Payment
terms are usually correct. The company can be considered for business dealings at usual trade
terms and condition. |
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 – March 31st, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
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
We are living in a
world where volatility and uncertainty have become the New Normal. We saw
a change of government in countries like Tunisia, Egypt, Libya and Vietnam.
Once powerful countries in Europe are now fighting for bankruptcy. We have
taken growth in the developing part of the world for granted but economic
growth in China and India has begun to slow. Companies that were synonymous
with their product categories just a few years ago are now no longer in
existence. Kodak, the inventor of the digital camera had to wind up its
operations, HMV, the British entertainment retailing company and Borders, once
the second largest bookstore have shut down due to their inability to evolve
their business models with the changing time. Readers’ Digest, Thomson Register
are no more !
There is another
megatrend happening. The World order is changing as economic power shifts from
West to East. According to McKinsey study, it took Britain more than 100 years
to double its economic output per person during its industrial revolution and
the US later took more than 50 years to do the same. More than a century later,
China and India have doubled their GDP per capital in 12 and 18 years respectively.
By 2020, emerging Asia will become the world’s largest consuming block,
overtaking North America.
The years after the
outbreak of the global financial crisis, the world economy continues to remain
fragile. The Indian economy demonstrated remarkable resilience in the initial
years of the contagion but finally lost ground last year. GDP growth slowed
down. Currency has been weakening. There is a marked deceleration in
agriculture, industry and services. Dampening sentiment led to a cut-back in
investment as well as private consumption expenditure. Inflation remained
at high levels fuelled by the pressure from the food and fuel sectors. The
large fiscal and current account deficit s continued to cause grave concern. It
is imperative that India regains its growth trajectory of 8-9 % sooner than
later. This is crucially important given the need to create gainful livelihood
opportunities for the millions living in poverty as also the large contingent
of young people joining the job market every year.
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 DECLINED BY
|
Name : |
Mr. Lalit Mathar |
|
Designation : |
Managing Director |
|
Contact No.: |
91-9810540202 |
|
Date : |
03.08.2013 |
LOCATIONS
|
Registered Office : |
3 Kabir Marg, Lucknow – 226001, Uttar Pradesh, India |
|
Tel. No.: |
91-522-2615078/2621733 |
|
Mobile No.: |
91-9810540202 (Mr. Lalit Mathar) |
|
Fax No.: |
91-522-2610719/2610720 |
|
E-Mail : |
|
|
Website: |
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|
|
|
|
Factory : |
E-3, EPIP, Neemrana, Alwar – 301705, Rajasthan, India |
|
Tel. No.: |
91-1494-246228 |
|
E-Mail : |
DIRECTORS
As on 29.09.2012
|
Name : |
Mr. Lalit Mohan Mathur |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Managing Director |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Address : |
1/4A, Arawali View, Rail Vihar, Sector – 56, Gurgaon – 122011,
Haryana, India |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Date of Birth/Age : |
12.08.1946 |
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Date of Appointment : |
24.11.2004 |
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DIN No.: |
00535423 |
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|
Name : |
Mr. Kamlesh Prasad |
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|
Designation : |
Director |
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|
Address : |
3 Kabir Marg, Lucknow – 226001, Uttar Pradesh, India |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
02.07.1957 |
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|
Date of Appointment : |
24.11.2004 |
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DIN No.: |
00207861 |
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Other Directorship:
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|
Name : |
Mr. Paresh Prasad |
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|
Designation : |
Director |
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|
Address : |
3 Kabir Marg, Lucknow – 226001, Uttar Pradesh, India |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
01.07.1960 |
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|
Date of Appointment : |
24.11.2004 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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DIN No.: |
00207899 |
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Other Directorship:
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||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Name : |
Mr. Satish Mohan |
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Designation : |
Director |
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|
Address : |
25 Stiver CRT, Unionville on L3R 2RI, Ontario – L3R2R1, Canada |
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|
Date of Birth/Age : |
27.06.1945 |
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|
Date of Appointment : |
21.02.2011 |
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DIN No.: |
03479214 |
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MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 29.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
LaLit Mohan Mathur |
|
102750 |
|
Kamlesh Prasad |
|
56375 |
|
Paresh Prasad |
|
46875 |
|
Satish Mohan |
|
500 |
|
Magnum Project BV, Netherland |
|
53000 |
|
|
|
|
|
Total |
|
259500 |
Equity Share Break up (Percentage of Total Equity)
As on 29.09.2012
|
Category |
Percentage |
|
Foreign holdings( Foreign institutional investor(s),
Foreign companie(s) Foreign financial institution(s), Non-resident Indian(s)
or Overseas Corporate bodies or Others |
20.42 |
|
Directors or relatives of Directors |
79.58 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer, Supplier and Exporter of PTFE/ETFE/XLPE
insulated heating wires, cables, mats and heating equipment. |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
|
|
|
|
Bankers : |
State Bank of India, Industrial Area, Bulandshahr Road, Ghaziabad –
201001, Uttar Pradesh, India |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Mohan Bhatnagar and Company Chartered Accountants |
|
Address : |
2nd Floor, 33 Nehru Road, Sadar Gurudwara, Chauraha,
Lucknow – 226002, India |
|
Tel. No.: |
91-522-2480384/2421251 |
|
PAN N Income-tax PAN of auditor or auditor's firm : |
AAIFM5659H |
CAPITAL STRUCTURE
As on 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1000000 |
Equity Shares |
Rs.10/- each |
Rs. 10.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
259500 |
Equity Shares |
Rs.10/- each |
Rs. 2.595
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2012 |
31.03.2011 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
2.595 |
2.595 |
|
(b) Reserves & Surplus |
|
45.020 |
34.143 |
|
(c) Money
received against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
|
0.000 |
0.000 |
|
Total Shareholders’
Funds (1) + (2) |
|
47.615 |
36.738 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
1.257 |
0.066 |
|
(b) Deferred tax liabilities (Net) |
|
0.202 |
0.225 |
|
(c) Other long term liabilities |
|
0.000 |
0.000 |
|
(d) long-term provisions |
|
0.105 |
0.066 |
|
Total Non-current Liabilities (3) |
|
1.564 |
0.357 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
|
3.490 |
3.692 |
|
(b) Trade payables |
|
7.923 |
4.991 |
|
(c) Other current
liabilities |
|
10.229 |
8.777 |
|
(d) Short-term provisions |
|
4.700 |
0.204 |
|
Total Current Liabilities (4) |
|
26.342 |
17.664 |
|
|
|
|
|
|
TOTAL |
|
75.521 |
54.759 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
24.158 |
19.013 |
|
(ii) Intangible Assets |
|
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
|
0.000 |
1.674 |
|
(iv)
Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
0.692 |
0.038 |
|
(e) Other Non-current assets |
|
0.000 |
0.000 |
|
Total Non-Current Assets |
|
24.850 |
20.725 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
0.000 |
0.000 |
|
(b) Inventories |
|
9.741 |
6.765 |
|
(c) Trade receivables |
|
6.755 |
1.033 |
|
(d) Cash and cash
equivalents |
|
20.971 |
18.137 |
|
(e) Short-term loans and
advances |
|
12.511 |
7.851 |
|
(f) Other current assets |
|
0.693 |
0.248 |
|
Total Current Assets |
|
50.671 |
34.034 |
|
|
|
|
|
|
TOTAL |
|
75.521 |
54.759 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
2.345 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
22.305 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
24.650 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
3.941 |
|
|
2] Unsecured Loans |
|
|
0.000 |
|
|
TOTAL BORROWING |
|
|
3.941 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.297 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
28.888 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
18.745 |
|
|
Capital work-in-progress |
|
|
1.674 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.000 |
|
|
DEFERREX TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
6.702
|
|
|
Sundry Debtors |
|
|
0.422
|
|
|
Cash & Bank Balances |
|
|
8.972
|
|
|
Other Current Assets |
|
|
0.000
|
|
|
Loans & Advances |
|
|
3.969
|
|
Total
Current Assets |
|
|
20.065
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
5.290
|
|
|
Other Current Liabilities |
|
|
6.255
|
|
|
Provisions |
|
|
0.051
|
|
Total
Current Liabilities |
|
|
11.596
|
|
|
Net Current Assets |
|
|
8.469
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
28.888 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Turnover |
74.600 |
39.300 |
33.400 |
|
|
|
Other Income |
NA |
NA |
NA |
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
Less |
TAX |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
10.877 |
2.220 |
4.885 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
41.92 |
NA |
NA |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.10
|
0.10 |
0.16 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.92
|
1.93 |
1.73 |
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 |
Yes |
|
10] |
Designation of contact
person |
Yes |
|
11] |
Turnover of firm for last
three years |
Yes |
|
12] |
Profitability for last
three years |
Yes |
|
13] |
Reasons for variation
<> 20% |
-- |
|
14] |
Estimation for coming
financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
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 |
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
CHARGE HOLDER |
ADDRESS |
Service Request
Number (SRN) |
|
1 |
10066964 |
21/12/2009 * |
4,811,000.00 |
STATE BANK OF INDIA |
RASMECCC, INDUSTRIAL AREA BULANDSHAHR
ROAD, GHAZIABAD, UTTAR PRADESH - 201001, INDIA |
A77699452 |
|
2 |
10066965 |
21/12/2009 * |
4,811,000.00 |
STATE BANK OF INDIA |
RASMECCC, INDUSTRIAL AREA BULANDSHAHR
ROAD, GHAZIABAD, UTTAR PRADESH - 201001, INDIA |
A77699486 |
FINANCIAL RESULTS
The company has achieved a turnover of Rs 74.600 Millions. while the turnover during the previous year was Rs.39.300 Millions. The Company has earned a PAT (Profit after Tax) of Rs 10.877 Millions this year as against a PAT of Rs 2.220 Millions in the immediate previous year.
REVIEW OF OPERATIONS
This year the company focussed on stabilising production processes to reduce line rejections and improve productivity. Also, major work was done on design and development of high power snow melting and other high heat density cables. Noteworthy achievements are:
1. Production of Frost Free cables was streamlined and shipments more than doubled in this year to C&F Teehniken (Magnum). Netherlands. -
2. Special high power cables rated at 17\V/m and 30W/m 230V and 400V and high temperature cables were developed for M/s Thermo-Floor. Norway and supplied through C and F Teehniken Magnum. These were accepted well.
3. Use of XLPE as a cheaper but electrically efficient primary insulation material was introduced in commercial production. This reduced overall costs and attracted good business for high power cables.
4. An ETFE primary insulation miniature under floor heating cable was developed for Magnum for use with neutral mats. This increased production, reduced costs substantially and increased business with Magnum.
5. The company added a new customer for under floor heating cables M/s Tile Therm. New Zealand, which enhanced their customer base in NZ. A us. Region.
6. Due to rise in product diversity, production volumes and to make room for further expansion, the company started work on building up the first floor to provide additional 1.000 sq. mtrs. Production space. This work is expected to be completed by Dec 2012.
7. For future expansion and diversification, the company also purchased from R11CO a 700 sq. mtr. Plot of land at H-91. EPIP. Neemrana. Close to the present location.
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.60.80 |
|
|
1 |
Rs.91.95 |
|
Euro |
1 |
Rs.80.37 |
INFORMATION DETAILS
|
Information Gathered
by : |
SVA |
|
|
|
|
Report Prepared
by : |
KVT |
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 |
6 |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
46 |
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.