MIRA INFORM REPORT
|
Report Date : |
26.08.2013 |
IDENTIFICATION DETAILS
|
Name : |
C DOCTOR AND COMPANY PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
3rd Floor, Bank of Baroda Building, Opposite Fuvara, Gandhi
Road, Ahmedabad – 38001, Gujarat |
|
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|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2011 |
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|
|
|
Date of
Incorporation : |
09.02.1944 |
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Com. Reg. No.: |
11-004140 |
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Capital
Investment / Paid-up Capital : |
Rs.7.500 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74999MH1944PTC004140 |
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|
|
|
Legal Form : |
Private Limited Liability Company |
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|
Line of Business
: |
Trader, Exporter and Importer of Humidifications system, Ventillation
system, Air Conditioner System etc. |
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|
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|
No. of Employees
: |
55 (Approximately) |
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 220000 |
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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 old and established company having a moderate track
record. The financials of 2012 is not available. As per the of 2011, the
company’s working capital requirement appears stretched. However, trade relations are fair. Business is active. Payment terms
are unknown. The company can be considered for business dealings with some caution.
|
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
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.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long term rating : B |
|
Rating Explanation |
High risk of default. |
|
Date |
05 August 2013 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short term rating : A4 |
|
Rating Explanation |
Minimal degree of safety and very high credit risk. |
|
Date |
05 August 2013 |
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. Rakesh Darwan |
|
Designation : |
Accountant |
|
Contact No.: |
91-79-25356943 |
|
Date : |
24.08.2013 |
LOCATIONS
|
Registered Office : |
3rd Floor, Bank of Baroda Building, Opposite Fuvara, Gandhi
Road, Ahmedabad – 38001, Gujarat, India |
|
Tel. No.: |
91-79-25356943 |
|
Fax No.: |
91-79-25394435 |
|
E-Mail : |
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|
Website : |
|
|
Branch Office: |
S-36, 1st Floor, Cotton Exchange Building, Cotton Green,
Mumbai - 400033, Maharashtra, India |
|
Tel. No.: |
91-22-26553202 |
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Branch Office : |
Located at
|
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|
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Corporate Office: |
3607-3608, GIDC Estate, Phase IV, Mahmedabad Highway, Vatva, Ahmedabad
– 382445, Gujarat, India |
|
Tel No.: |
91-79-40268700/25841152/25841449/25841040 |
|
|
91-79-40268799 |
|
Email: |
DIRECTORS
As on 29.09.2012
|
Name : |
Mr. Suhasbhai Vadilal Mehta |
|
Designation : |
Managing Director |
|
Address : |
13, Lallubhai Park, St, Xaviers College Corner, Naavrangpura,
Ahmedabad – 380009 Gujarat, India |
|
Date of Birth/Age : |
06.11.1948 |
|
Date of Appointment : |
12.05.1967 |
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DIN No.: |
00665227 |
|
|
|
|
Name : |
Chhayaben Suhasbhai Mehta |
|
Designation : |
Director |
|
Address : |
13, Lallubhai Park, St, Xaviers College Corner, Naavrangpura,
Ahmedabad – 380009 Gujarat, India |
|
Date of Birth/Age : |
12.01.1952 |
|
Date of Appointment : |
30.06.1988 |
|
DIN No.: |
00647995 |
|
|
|
|
Name : |
Mr. Sisir Chakraborty |
|
Designation : |
Director |
|
Address : |
Village: Gopalpur, PO : Sirkarpool, Kolkata – 7000143, West Bengal,
India |
|
Date of Birth/Age : |
31.10.1957 |
|
Date of Appointment : |
01.04.2006 |
|
DIN No.: |
00665104 |
|
|
|
|
Name : |
Mr. Saurabha Suhasbhai Mehta |
|
Designation : |
Director |
|
Address : |
13, Lallubhai Park, St, Xaviers College Corner, Naavrangpura, Ahmedabad
– 380009 Gujarat, India |
|
Date of Birth/Age : |
22.07.1975 |
|
Date of Appointment : |
01..09.2009 |
|
DIN No.: |
00665181 |
KEY EXECUTIVES
|
Name : |
Mr. Rakesh Darwan |
|
Designation : |
Accountant |
|
|
|
|
Name : |
Umesh Parikh and Associates |
|
Designation : |
Company Secretaries |
|
Address : |
5/D, 5th Floor, Vardan Exclusive, Next to Vimal House, Near
Stadium Petrol Pump, Navrangpure, Ahmedabad – 380014, Gujarat, India |
|
Tel No.: |
91-79-26405454/26401122 |
|
Email: |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 29.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
Vadilal Lallubhai Mehta |
|
2 |
|
Ravindra Chinubhai |
|
1 |
|
Ravindra Chinubhai Arvindbhai Chinubhai Neeruben R Mehta |
|
28 |
|
Chhayaben S Mehta |
|
1265 |
|
Oriental Corporation Private Limited, India |
|
166 |
|
Suhasbhai V Mehta Chhayaben S Mehta |
|
44 |
|
Suhasbhai V Mehta Chhayaben S Mehta Saurabh S Mehta |
|
6 |
|
Suhasbhai V Mehta |
|
1791 |
|
Suhasbhai V Mehta Chhayaben S Mehta |
|
21 |
|
Suhasbhai V Mehta Chhayaben S Mehta |
|
91 |
|
Chhayaben S Mehta Suhasbhai V Mehta |
|
169 |
|
Saurabhbhai S Mehta Suhasbhai V Mehta |
|
1416 |
|
|
|
|
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Total |
|
5000 |
Equity Share Break up (Percentage of Total Equity)
As on 29.09.2012
|
Category |
Percentage |
|
Bodies corporate |
3.32 |
|
Directors or relatives of Directors |
96.10 |
|
Other top fifty shareholders |
0.58 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Trader, Exporter and Importer of Humidification system, Ventillation
system, Air Conditioner System etc. |
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Products : |
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Exports : |
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Products : |
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Countries : |
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Imports : |
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Products : |
Raw Material |
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Countries : |
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Terms : |
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Selling : |
Cash and Credit |
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Purchasing : |
Cash and Credit |
GENERAL INFORMATION
|
Customers : |
End Users
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No. of Employees : |
55 (Approximately) |
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Bankers : |
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Facilities : |
Cash Credit: Rs. 50.000 Millions (From Oriental Bank of Commerce )
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
Shah and Shah Associates Chartered Accountants |
|
Address : |
702, Aniket, Near Municipal Market, Navrangpura, Ahmedabad – 380009,
Gujarat, India |
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Tel No.: |
91-79-26485433 |
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Fax No.: |
91-79-26406983 |
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Email: |
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Associates Companies: |
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CAPITAL STRUCTURE
As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5000 |
Equity Shares |
Rs.1500/- each |
Rs. 7.500 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5000 |
Equity Shares |
Rs.1500/- each |
Rs. 7.500
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
7.500 |
7.500 |
6.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
48.653 |
43.367 |
27.225 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
56.153 |
50.867 |
33.225 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
21.207 |
28.337 |
19.503 |
|
|
2] Unsecured Loans |
20.975 |
6.175 |
19.840 |
|
|
TOTAL BORROWING |
42.182 |
34.512 |
39.343 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
98.335 |
85.379 |
72.568 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
9.663 |
3.447 |
2.785 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.004 |
1.002 |
0.960 |
|
|
DEFERREX TAX ASSETS |
4.532 |
4.323 |
3.079 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
0.925
|
1.715
|
0.641
|
|
|
Sundry Debtors |
288.797
|
246.638
|
229.927
|
|
|
Cash & Bank Balances |
18.737
|
23.706
|
13.133
|
|
|
Other Current Assets |
0.000
|
0.000
|
0.000
|
|
|
Loans & Advances |
22.699
|
29.347
|
33.998
|
|
Total
Current Assets |
331.158
|
301.406
|
277.699
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
138.398
|
116.534
|
124.413
|
|
|
Other Current Liabilities |
97.839
|
97.090
|
77.334
|
|
|
Provisions |
10.785
|
11.175
|
10.208
|
|
Total
Current Liabilities |
247.022
|
224.799
|
211.955
|
|
|
Net Current Assets |
84.136
|
76.607
|
65.744
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
98.335 |
85.379 |
72.568 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Turnover |
384.700 |
341.300 |
NA |
|
|
|
Other Income |
5.688 |
11.084 |
NA |
|
|
|
TOTAL |
390.388 |
352.384 |
NA |
|
|
|
|
|
|
|
|
|
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
379.162 |
334.783 |
NA |
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
11.225 |
17.601 |
NA |
|
|
|
|
|
|
|
|
|
|
TAX |
4.540 |
6.556 |
NA |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
6.685 |
11.045 |
NA |
|
|
|
|
|
|
|
|
|
|
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
31.700 |
23.000 |
NA |
|
|
|
|
|
|
|
|
|
|
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
0.714 |
0.941 |
NA |
|
|
|
Dividend |
1.200 |
1.200 |
|
|
|
|
Tax on Dividend |
0.199 |
0.204 |
NA |
|
|
BALANCE CARRIED
TO THE B/S |
36.272 |
31.700 |
NA |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
0.000 |
0.157 |
2.802 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Machinery and Spares |
0.000 |
0.096 |
6.126 |
|
|
|
Capital Goods |
0.070 |
0.000 |
NA |
|
|
TOTAL IMPORTS |
0.070 |
0.096 |
NA |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
1.671 |
2.761 |
NA |
|
|
Particulars |
|
31.03.2013 |
31.03.2012 |
|
Sales Turnover (Approximately) |
|
490.000 |
420.000 |
Expected Sales (2013-2014): Rs.560.000 Millions
The above information has been parted by Mr. Rakesh Darwan (Accountant)
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
1.71
|
3.13 |
NA |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
2.92
|
5.16 |
NA |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
3.39
|
5.84 |
NA |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.20
|
0.35 |
NA |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.75
|
0.68 |
1.18 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.34
|
1.34 |
1.31 |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES
OF LONG-TERM DEBT DETAILS: 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 |
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
four years |
Yes |
|
12] |
Profitability for last
two 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 |
No |
|
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 |
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 |
Yes |
YEAR IN
RETROSPECT:
During the year, the operations of the company was well in term of
turnover of Rs. 384.700 Millions is higher by 12.71% compared to R.s 341.300
Millions in the previous year.
UNSECURED LOAN
|
PARTICULARS |
31.03.2011 (Rs.
in Millions) |
31.03.2010 (Rs.
in Millions) |
|
From Directors and their relatives |
9.757 |
2.410 |
|
From Banks |
0.481 |
1.649 |
|
From companies |
10.737 |
2.116 |
|
Total |
20.975 |
6.175 |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION
|
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
10330238 |
31/07/2012 * |
245,000,000.00 |
ORIENTAL BANK OF COMMERCE |
NEEL KAMAL BUILDING, OPP. SALES INDIA, ASHRAM ROA |
B55970636 |
Note: * Date of charge modification
CONTINGENT
LIABILITIES:
(Rs. in millions)
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
|
Guarantees given by the company’s Bankers to
various parties for various purpose against the company counter guarantees |
124.015 |
88.169 |
|
Bills discounted with bankers no matures
(since realized) |
9.543 |
0.000 |
|
Claims of ex-employees for reinstatement in
service with back wages |
Unascertained |
Unascertained |
|
Disputed demands for income tax |
2.413 |
1.252 |
|
Disputed sales tax liabilities for F Y
2004-05, F Y 2005-06 and 2006-07. |
2.803 |
2.024 |
FIXED ASSETS
- Freehold Land
- Goodwill
- Building
- Machinery
- Furniture and
Fixtures
- Office
Equipments
- Vehicle
- Electric
Generator
- 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.64.23 |
|
|
1 |
Rs.100.01 |
|
Euro |
1 |
Rs.85.93 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Report Prepared
by : |
KVT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--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 |
|
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.