MIRA
INFORM REPORT
|
Report Date : |
26.08.2013 |
IDENTIFICATION DETAILS
|
Name : |
MAPLE DIGITAL TECHNOLOGY INTERNATIONAL PRIVATE LIMITED |
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|
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|
Registered
Office : |
250, Powai Plaza, Hiranandani, Powai, Mumbai – 400076, Maharashtra |
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Country : |
India |
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Financials (as
on) : |
31.03.2012 |
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Date of
Incorporation : |
25.06.2009 |
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Com. Reg. No.: |
11-193551 |
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Capital
Investment / Paid-up Capital : |
Rs.10.000 Millions |
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CIN No.: [Company Identification
No.] |
U72900MH2009PTC193551 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
MUMM36596A |
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Legal Form : |
Private Limited Liability Company
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Line of Business
: |
The Company is engaged
in the business of Trading in Computer and Computer parts and Accessories. |
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No. of Employees
: |
75 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (29) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 72000 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow But Correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate track. Reserves of
the company appear to be low. However, trade relations are reported as fair.
Business is active. Payments are reported to be slow but correct. The company can be considered for business dealings with some
cautions. |
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) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
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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 PARTED BY
|
Name : |
Mr. Ketan Shah |
|
Designation : |
Finance Manager |
|
Contact No.: |
91-22-42142900 |
LOCATIONS
|
Registered/ Head Office : |
250, Powai Plaza, Hiranandani, Powai, Mumbai 400076, Maharashtra,
India |
|
Tel. No.: |
91-22-42142900 |
|
Fax No.: |
91-22-42142999 |
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E-Mail : |
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|
Website : |
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|
Area : |
1000 Sq. Ft. |
|
Location : |
Owned |
|
|
|
|
Apple Premium Reseller Store: |
Kamal Society, Ground Floor, Opposite National Collage, Linking Road, Bandra
(West), Mumbai 400050, Maharashtra, India |
|
Tel. No.: |
91-22-40068888/ 87/ 86/ 85 |
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|
|
|
Authorized Service Centre: |
1/2, Pinky Plaza, Behind Irish Pub, Near Union Bank of India, 5th
Road, Khar (West), Mumbai 400052, Maharashtra, India |
|
Tel. No.: |
91-22-26040007 / 88/ 99 |
DIRECTORS
(AS ON 29.09.2012)
|
Name : |
Mr. Manil Bhaskar Shetty |
|
Designation : |
Director |
|
Address : |
Kailash Tower Building No.10, Flat No 402, 4th Floor, Powai,
Chandivali, Mumbai-400072, Maharashtra, India |
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Date of Birth/Age : |
15.01.1978 |
|
Date of Appointment : |
25.06.2009 |
|
DIN No.: |
02261573 |
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|
|
Name : |
Ms. Madhubala Manil Shetty |
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Designation : |
Director |
|
Address : |
Kailash Tower Building No.10, Flat No 402, 4th Floor,
Powai, Chandivali, Mumbai-400072, Maharashtra, India |
|
Date of Birth/Age : |
21.09.1979 |
|
Date of Appointment : |
25.06.2009 |
|
DIN No.: |
02566618 |
KEY EXECUTIVES
|
Name : |
Mr. Ketan Shah |
|
Designation : |
Finance Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 29.09.2012
|
Names of Shareholders |
No. of Shares |
|
|
|
|
Manil Bhaskar Shetty |
95000 |
|
Madhubala Manil Shetty |
5000 |
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TOTAL |
100000 |
(AS ON 29.09.2012)
|
Equity Shares
Break Up |
Percentage of
Holding |
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Directors or relatives of Directors |
100.00 |
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|
|
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Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
The Company is engaged
in the business of Trading in Computer and Computer parts and Accessories. |
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Products : |
·
Computer ·
I - Pods ·
I - Phone |
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Imports : |
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Countries : |
·
Taiwan ·
Germany |
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Terms : |
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Selling : |
Cash, Credit |
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Purchasing : |
Cash, Credit |
GENERAL INFORMATION
|
Suppliers : |
·
Radington India |
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Customers : |
Retailers, End Users and Corporate ·
Philips Electronics Limited |
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No. of Employees : |
75 (Approximately) |
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Bankers : |
·
Kotak Mahindra Bank Limited 36-38 A, Nariman Bhavan, 227 D, Nariman Point, Mumbai – 400021,
Maharashtra, India · Yes Bank Limited |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Nagendra Gupta and Company Chartered Accountant |
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Address : |
106, Runwal Heights, LBS Road, Mulund (West), Mumbai – 400080,
Maharashtra, India |
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PAN No.: |
AADFN4316P |
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Sister Concern : |
·
Maple Technology Address : 250, Powai Plaza, Hiranandani, Powai, Mumbai 400076,
Maharashtra, India Line of Business: Trader and Importer of all Apple Electronic
Products. |
CAPITAL STRUCTURE
(AS ON 31.03.2012)
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
100000 |
Equity Shares |
Rs.100/- each |
Rs.10.000 Millions |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
|
|
|
|
100000 |
Equity Shares |
Rs.100/- each |
Rs.10.000 Millions |
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NOTES
The Company has only
one class of shares referred to as equity shares having a par value of Rs.10/-
Each Holder of equity shares is entitled to one vote per share
|
Shareholders
holding more than 5% shares of the Company |
2011-12 |
||
|
Name of Shareholder |
Class Of Shares |
% |
Nos. |
|
Manil Shetty |
Equity Shares |
95 |
950000 |
|
Madhubala Shetty |
Equity Shares |
5 |
50000 |
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 |
|
10.000 |
10.000 |
|
(b) Reserves & Surplus |
|
8.208 |
3.102 |
|
(c) Money
received against share warrants |
|
0.000 |
0.000 |
|
|
|
|
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(2) Share Application money pending allotment |
|
0.000 |
0.000 |
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Total
Shareholders’ Funds (1)+(2) |
|
18.208 |
13.102 |
|
|
|
|
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(3) Non-Current Liabilities |
|
|
|
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(a) long-term borrowings |
|
8.629 |
13.047 |
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(b) Deferred tax liabilities (Net) |
|
0.000 |
0.005 |
|
(c) Other long term liabilities |
|
0.000 |
0.000 |
|
(d) long-term provisions |
|
0.000 |
0.000 |
|
Total Non-current Liabilities (3) |
|
8.629 |
13.052 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
|
9.253 |
5.438 |
|
(b) Trade payables |
|
21.893 |
29.891 |
|
(c) Other current
liabilities |
|
10.591 |
27.608 |
|
(d) Short-term provisions |
|
3.088 |
1.608 |
|
Total Current Liabilities (4) |
|
44.825 |
64.545 |
|
|
|
|
|
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TOTAL |
|
71.663 |
90.699 |
|
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|
|
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II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
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(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
13.286 |
6.380 |
|
(ii) Intangible Assets |
|
0.018 |
0.030 |
|
(iii) Capital
work-in-progress |
|
0.000 |
0.000 |
|
(iv)
Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
|
0.116 |
0.000 |
|
(d) Long-term Loan and Advances |
|
7.749 |
4.706 |
|
(e) Other Non-current assets |
|
0.000 |
0.148 |
|
Total Non-Current Assets |
|
21.169 |
11.264 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
0.000 |
0.000 |
|
(b) Inventories |
|
25.009 |
23.548 |
|
(c) Trade receivables |
|
21.877 |
28.440 |
|
(d) Cash and cash
equivalents |
|
1.415 |
26.607 |
|
(e) Short-term loans and
advances |
|
2.192 |
0.840 |
|
(f) Other current assets |
|
0.000 |
0.000 |
|
Total Current Assets |
|
50.493 |
79.435 |
|
|
|
|
|
|
TOTAL |
|
71.662 |
90.699 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
10.000 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
0.357 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
10.357 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
0.000 |
|
|
2] Unsecured Loans |
|
|
0.000 |
|
|
TOTAL BORROWING |
|
|
0.000 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.013 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
10.370 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
2.536 |
|
|
Capital work-in-progress |
|
|
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.000 |
|
|
DEFERREX TAX ASSETS |
|
|
0.000 |
|
|
OTHER NON-CURRENT ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
7.355 |
|
|
Sundry Debtors |
|
|
3.807 |
|
|
Cash & Bank Balances |
|
|
4.583 |
|
|
Other Current Assets |
|
|
4.785 |
|
|
Loans & Advances |
|
|
0.025 |
|
Total
Current Assets |
|
|
20.555 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
12.291 |
|
|
Other Current Liabilities |
|
|
0.000 |
|
|
Provisions |
|
|
0.597 |
|
Total
Current Liabilities |
|
|
12.888 |
|
|
Net Current Assets |
|
|
7.667 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.167 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
10.370 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
397.173 |
219.868 |
14.603 |
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL |
397.173 |
219.868 |
14.603 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
387.993 |
214.937 |
14.020 |
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
9.180 |
4.931 |
0.583 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
1.736 |
0.954 |
0.066 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX |
7.444 |
3.977 |
0.517 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
2.338 |
1.232 |
0.160 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX |
5.106 |
2.745 |
0.357 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
0.000 |
3.555 |
0.290 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
5.11 |
2.74 |
5.57 |
|
Expected Sales (2012-2013): Rs.800.000 Millions
The above information has been parted by Mr. Ketan Shah.
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
1.29
|
1.25 |
2.44 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
10.40
|
4.38 |
2.24 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.41
|
0.30 |
0.05 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debts/Networth) |
|
0.98
|
1.41 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.13
|
1.23 |
1.59 |
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 |
Yes |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
Yes |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact
person |
Yes |
|
11] |
Turnover of firm for last
three years |
Yes |
|
12] |
Profitability for last
three years |
Yes |
|
13] |
Reasons for variation
<> 20% |
----- |
|
14] |
Estimation for coming
financial year |
Yes |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
Yes |
|
18] |
Major customers |
Yes |
|
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 |
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 |
PERFORMANCE
During the year,
the company has achieved a good growth in the annual turnover, the turnover has
increased from Rs 219.868 Millions in 10-11 to Rs 397.173 Millions in 11-12. The
profit (before tax) for the year has increased from Rs 3.977 Millions to
Rs.7.444 Millions. The management of the company is confident of doing still
better in the years to come.
INDEX OF CHARGES
|
S. No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10439372 |
27/07/2013 |
13,000,000.00 |
KOTAK MAHINDRA
BANK LIMITED |
36-38A, NARIMAN
BHAVAN, 227, D, NARIMAN POINT, MUMBAI, MAHARASHTRA
- 400021, INDIA |
B80561301 |
|
2 |
10428256 |
02/05/2013 |
15,000,000.00 |
YES BANK LIMITED |
9TH FLOOR, NEHRU
CENTRE, DISCOVERY OF INDIA, DR. |
B75930974 |
|
3 |
10401883 |
15/12/2012 |
17,500,000.00 |
KOTAK MAHINDRA
BANK LIMITED |
36-38A, NARIMAN
BHAVAN, 227, D, NARIMAN POINT, MUMBAI, MAHARASHTRA - 400021, INDIA |
B67638262 |
|
4 |
10249813 |
01/11/2010 |
10,000,000.00 |
KOTAK MAHINDRA
BANK LIMITED |
36-38A, NARIMAN BHAVAN,
227, D, NARIMAN POINT, MUMBAI, MAHARASHTRA - 400021, INDIA |
A97998942 |
FIXED ASSETS
·
Equipments
·
Furniture and Fixtures
·
Software
·
Motor Car
·
Mobile Purchase
·
Computer
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 records 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.64.69 |
|
|
1 |
Rs.100.80 |
|
Euro |
1 |
Rs.86.30 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Report Prepared
by : |
NIT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--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 |
|
29 |
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.