MIRA INFORM REPORT
|
Report Date : |
17.08.2013 |
IDENTIFICATION DETAILS
|
Name : |
RED BULL INDIA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
1st Floor, B Wing, 215 Atrium, Chakala, Andheri - Kurla Road,
Andheri (East), Mumbai - 400059, Maharashtra |
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|
Country : |
India |
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Financials (as
on) : |
31.12.2010 |
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Date of
Incorporation : |
03.04.2007 |
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Com. Reg. No.: |
11-169580 |
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Capital Investment
/ Paid-up Capital : |
Rs. 27.300
Millions |
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|
|
|
CIN No.: [Company Identification
No.] |
U51909mh2007ftc169580 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Mumr21838f |
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|
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PAN No.: [Permanent Account No.] |
Aadcr5842h |
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|
Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Distributors of energy
Drinks |
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|
No. of Employees
: |
Information declined by management |
RATING & COMMENTS
|
MIRA’s Rating : |
B (35) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 650000 |
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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 and reputed company having moderate track
record. The management has failed to file its latest financial with the government
department. From the available financial, we found that the company has
recorded some accumulated losses. The company is continuously incurring
losses from its operation. However, trade relations are reported as fair.
Business is active. In absence of latest financial, payment terms are
unknown. The company can be considered for business dealings with slight
caution. |
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
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. Bhavesh Joshi |
|
Designation : |
Account Manager |
|
Contact No.: |
91-22-66180888 |
|
Date : |
16.08.2013 |
LOCATIONS
|
Registered / Corporate Office : |
1st Floor, B Wing, 215 Atrium, Chakala, Andheri - Kurla
Road, Andheri (East), Mumbai - 400059, Maharashtra, India |
|
Tel. No.: |
91-22-66180888 |
|
Fax No.: |
91-22-66180808 |
|
E-Mail : |
morris@littlecompany.com ankit.paleja@littlecompany.com ananth.venkatesan@ap.redbull.com ananth@ap.redbull.com ananth.rb@redbull.com chunder.khator@in.redbul.com ananth.venkatesan@in.redbull.com |
|
Website : |
|
|
Area : |
2000 sq. ft |
|
Location : |
Owned |
DIRECTORS
AS ON 30.06.2011
|
Name : |
Mr. Rudolf Theierl |
|
Designation : |
Director |
|
Address : |
Gansbichlstrasse, Hallein, Austria 5400 |
|
Date of Birth/Age : |
16.11.1949 |
|
Date of Appointment : |
03.04.2007 |
|
DIN No.: |
02022967 |
|
|
|
|
Name : |
Mr. Bhaskar Vishwa Deva Sharma |
|
Designation : |
Director / General Manger – India |
|
Address : |
Flat No: 51, 5th Floor,
|
|
Date of Birth/Age : |
31.08.1963 |
|
Qualification : |
M Sc., MBA |
|
|
23 Years |
|
Date of Appointment : |
04.01.2010 |
|
DIN No.: |
02871367 |
|
|
|
|
Name : |
Mr. Harish Kanotra |
|
Designation : |
Additional director |
|
Address : |
B-404, RNA Heights, JVLR, Andheri (East), Mumbai – 400093,
Maharashtra, India |
|
Date of Birth/Age : |
13.04.1974 |
|
Date of Appointment : |
08.10.2010 |
|
DIN No.: |
05154960 |
KEY EXECUTIVES
|
Name : |
Mr. Bhavesh Joshi |
|
Designation : |
Account Manager |
|
|
|
|
Name : |
Mr. Sunil Dhar |
|
Designation : |
Commercial
Director – India |
|
Date of Birth/Age : |
44 years |
|
Qualification : |
B.Com, MBA |
|
Experience : |
21 Years |
|
|
|
|
Name : |
Mr. Vikaas
Saxena |
|
Designation : |
Marketing
Director – India |
|
Date of Birth/Age : |
36 years |
|
Qualification : |
B Sc., MBA
(XLRI) |
|
Experience : |
12 years |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.06.2011
|
Names of Shareholders |
|
No. of Shares |
|
Red Bull |
|
2729999 |
|
Red Bull Hanger – 7 GmbH |
|
1 |
|
|
|
|
|
Total |
|
2730000 |
AS ON 30.06.2011
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
100.00 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Distributor of Energy Drinks. |
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Products : |
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GENERAL INFORMATION
|
No. of Employees : |
Information declined by management |
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Bankers : |
Hongkong and
Shanghai Banking Corporation Limited, Andheri (East), Mumbai, |
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Banking
Relations : |
-- |
|
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|
|
Auditors : |
|
|
Name : |
S.R. Batliboi and Associates Chartered Accountants |
|
Address : |
Jalan Mill Compound, 95 Ganpatrao Kadam MArg, Lower Parel, Mumbai -
400013, Maharashtra, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AABFS3421N |
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|
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|
Holding Company : |
Red Bull GmbH, Austria |
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|
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Fellow Subsidiaries : |
Ø
Red Bull Asia FZE, Dubai Ø
Salzburg Sport GmbH Ø
Red Bull Technologies |
CAPITAL STRUCTURE
AS ON 31.12.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4,500,000 |
Equity Shares |
Rs.10/- each |
Rs. 45.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2,730,000 |
Equity Shares |
Rs.10/- each |
Rs. 27.300
Millions |
|
|
|
|
|
(Of the above, 2730000 (2009: 2150000) shares are held by Red Bull GmbH,
Austria, the holding company and 1 share (2009: 1) is held by Red Bull Hangar
7)
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.12.2010 |
31.12.2009 |
31.12.2008 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
27.300 |
21.500 |
6.500 |
|
|
2] Share Application Money |
0.000 |
140.000 |
0.000 |
|
|
3] Reserves & Surplus |
709.200 |
135.000 |
0.000 |
|
|
4] (Accumulated Losses) |
(573.837) |
(260.387) |
(108.497) |
|
|
NETWORTH |
162.663 |
36.113 |
(101.997) |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
20.000 |
155.000 |
110.000 |
|
|
TOTAL BORROWING |
20.000 |
155.000 |
110.000 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
182.663 |
191.113 |
8.003 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
98.823 |
109.255 |
41.782 |
|
|
Capital work-in-progress |
106.985 |
104.685 |
9.397 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
110.463
|
89.849 |
38.441 |
|
|
Sundry Debtors |
44.567
|
41.448 |
103.187 |
|
|
Cash & Bank Balances |
19.986
|
1.971 |
1.065 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
210.035
|
111.622 |
21.519 |
|
Total
Current Assets |
385.051
|
244.890 |
164.212 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
323.129
|
205.722 |
115.660 |
|
|
Other Current Liabilities |
72.587
|
55.694 |
85.604 |
|
|
Provisions |
12.480
|
6.301 |
6.124 |
|
Total
Current Liabilities |
408.196
|
267.717 |
207.388 |
|
|
Net Current Assets |
(23.145)
|
(22.827) |
(43.176) |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
182.663 |
191.113 |
8.003 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.12.2010 |
31.12.2009 |
31.12.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
745.221 |
483.684 |
458.337 |
|
|
|
Other Income |
NA |
NA |
NA |
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
Less |
|
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
NA |
(144.919) |
(71.867) |
|
|
|
|
|
|
|
|
|
Less |
TAX |
NA |
6.971 |
1.661 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
(313.450) |
(151.890) |
(73.528) |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Traded Goods |
239.519 |
216.007 |
145.801 |
|
|
|
Capital Goods |
44.777 |
135.133 |
31.151 |
|
|
|
Advertisement and Other Material |
1.988 |
3.990 |
7.214 |
|
|
TOTAL IMPORTS |
286.284 |
355.130 |
184.166 |
|
|
|
|
|
|
|
|
|
|
Earnings/ (Loss)
Per Share (Rs.) |
(131.25) |
(168.64) |
(113.12) |
|
KEY RATIOS
|
PARTICULARS |
|
31.12.2010 |
31.12.2009 |
31.12.2008 |
|
Net Profit Margin (PBT/Sales) |
(%) |
NA
|
(29.96) |
(15.68) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
NA
|
(40.92) |
(34.89) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
NA
|
(4.01) |
0.70 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.12
|
4.29 |
(1.08) |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.94
|
0.91 |
0.79 |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES OF
LONG-TERM DEBT: NOT AVAILABLE
|
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 |
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 |
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 |
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 |
UNSECURED LOANS
|
Unsecured Loans |
31.12.2010 |
31.12.2009 |
|
|
(Rs. In Millions) |
|
|
Short Term Loan from Bank ((Repayable within 1 year - Rs.20.000 millions (previous period :
Rs.155.000 millions) |
20.000 |
155.000 |
|
Total |
20.000 |
155.000 |
|
The above loan is backed by corporate guarantee given by Red Bull
GmbH, the holding company. |
||
FINANCIAL RESULTS
During the Financial Year January 1, 2010 to December 31, 2010 the Company has affected sales of Rs.745.221 millions against sales of Rs.483.684 millions during the previous financial year. The Company has incurred a loss after tax of Rs.313.450 millions during the financial year.
The management of the Company has continued to strive its best to increase turnover and improved profitability of the Company.
CONTINGENT LIABILITY NOT PROVIDED
FOR
(Rs. in millions)
|
Particulars |
31.12.2010 |
31.12.2009 |
|
|
|
|
|
Customs Duty |
299.658 |
166.171
|
|
Guarantee Given by the Bank on behalf of the company |
0.200 |
0.200
|
|
TOTAL |
299.858 |
166.371
|
INDEX OF CHARGES: NO
CHARGES EXIST FOR THE COMPANY
FIXED ASSETS
Ø Leasehold Improvements
Ø Computers
Ø Furniture and Fixtures
Ø Office Equipment
Ø Marketing Assets
Ø Vehicles
WEBSITE DETAILS
PRESS RELEASE
RED BULL FACES ENERGY DRINK MARKET BATTLE IN INDIA
05.11.2012
Austrian energy
drinks maker Red Bull and its erstwhile Indian partner Rahul Narang Group are
headed for a long and bitter courtroom battle over territorial rights.
Red Bull, which recently severed its ties with the Indian partner, was stopped
last week by a Mumbai court from poaching distributors of the Rahul Narang
Group to sell their energy drink.
The Mumbai-based Rahul Narang Group had applied to a local court charging the
Austrian multinational of poaching its proprietary distribution network, weeks
after ending one of the oldest alliances in the country's beverage market.
Red Bull is growing at 30 percent annually. It is estimated to be a Rs 1900.000
Millions brand in India and controls close to 80 percent of the Rs 2500.000
Millions energy drinks market. Its rivals include Coca Cola's Burn, Zinga,
local brands like Cloud 9 and a clutch of regional brands.
The Bombay City
Civil Court agreed and restrained Red Bull from approaching three of RNG's
sub-distributors in Pune, Bangalore and Gurgaon, and rejected the Euro
4.2-billion firm's plea seeking permission to move the matter to an arbitration
court in Geneva.
But the court asked Red Bull not to approach those three specific sub-distributors
and said the Austrian giant was free to negotiate with the remaining 300
distributors and sub-distributors.
"Red Bull is free to go on its own but let them build the operations on
their own," Rahul Narang, founder and chairman of RNG, said in an interview.
Rohan Vyavahara, a spokesperson for Red Bull, confirmed that the company has
been stepping up efforts to build its own India network.
"The court's outcome has confirmed our legitimate right to continue doing
business with partners of our choice throughout India," Vyavehara said in
a telephonic interview.
The Rahul Narang Group, meanwhile, is negotiating with Monster, a global energy
brands from the United States, to market in India.
Ever since Red Bull set up its base with wholly owned subsidiary Red Bull India
Private Limited in 2008, it became clear that the autonomy of the Indian
partner would be curbed. Prior to 2008, RNG was importing and selling Red Bull
on its own.
Over time, Red Bull put in place its own leadership team to oversee key accounts,
ground sales and distribution operations of the Rahul Narang Group. Though
logistics and warehousing were partially split, finance and marketing functions
came under the direct supervision of the global energy drinks company.
According to The
Economic Times, the split happened because RNG failed to meet mutually accepted
targets. Two years back, both had agreed to scale up the venture's reach to
25,000 outlets from 15,000; but only 19,000 outlets were tapped. Currently Red
Bull reaches to around 21,000 outlets and the company targets to triple that in
the next 15 months.
Rahul Narang Group markets and distributes a clutch of international food and
beverage brands including Perrier, Evian, Illy Coffee and Lindt Chocolates through
its distribution network of over 150,000 points of sale nationwide.
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. 61.82 |
|
|
1 |
Rs. 96.57 |
|
Euro |
1 |
Rs. 82.45 |
INFORMATION DETAILS
|
Information Gathered
by : |
PLV |
|
|
|
|
Report Prepared
by : |
NTH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
3 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--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 |
|
DEFAULTERS |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
35 |
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.