|
Report Date : |
09.12.2013 |
IDENTIFICATION DETAILS
|
Name : |
RAWATKHEDIA PROCESSORS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Plot No.194,
184/3, Near Baleshwar Khadi, National Highway No.8, Baleshwar,
Taluka-Palsana, Surat – 394 315, Gujarat |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
19.02.2004 |
|
|
|
|
Com. Reg. No.: |
04-043648 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.9.827
millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U17111GJ2004PTC043648 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject’s main business is to process art silk cloth on job work
basis. |
|
|
|
|
No. of Employees
: |
200 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (27) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 424000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having moderate track record. There appears losses recorded by the company from its operational
activities during the financial year 2013. However, trade relations are fair. Business is active. Payment terms
are slow but correct. 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
The current downturn
provides an opportunity to push ahead with reforms to accelerate growth, says
the latest India Development Update report released by the World Bank. The
report says that the adverse effects of rupee depreciation are likely to be
offset by the gains in the exports performance due to improved external
competitiveness. Since May this year, the local currency has depreciated
substantially and fell to a record level of Rs 68.85 to a dollar on August, 28.
A stagflation like
situation appears to have arisen as inflation jumped to an eight month high of
6.46 % for the month of September. It is up from 6.10 % in August. Growth
continues to be muted with factory output plunging to 0.6 % in August.
Onion prices have risen nearly 300 % from last September. Vegetables cost
nearly 90 % more than they did last year. Wake up to the economic contribution
of slum dwellers. They contribute more than 7.5 % to the country’s gross domestic
product, according to a recent study conducted in 50 top cities.
136000 estimated
number of jobs created during the second quarter of the current financial year.
50000 estimated number of additional jobs in the field of corporate social
responsibility in the coming years.
The International
Finance Corporation expects to come out with its rupee linked bonds issue
before the end of 2013 as a part of its plan to raise $ 1 billion. The Apple
iPhone 5c (Rs 41900 for 16 GB variant) and 5s (Rs 53500 for 16GB variant) has
been launched in India from 1st November.
The Land Acquisition
Act to provide just and fair compensation to farmers will come into force from
January 1 next year, said Rural Development Minister Jairam Ramesh. The Act
replaces a 119 year old registration. The Securities and Exchange Board of
India has approved the trading of currency futures on the Bombay Stock
Exchange. The exchange plans to launch the currency futures platform with
advanced trading technology by the end of November.
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. Girish Kalawantia |
|
Designation : |
Accountant |
|
Contact No.: |
91-9427637342 |
|
Date : |
06.12.2013 |
LOCATIONS
|
Registered Office/ Factory : |
Plot No.194,
184/3, Near Baleshwar Khadi, National Highway No.8, Baleshwar,
Taluka-Palsana, Surat – 394 315, Gujarat |
|
Tel. No.: |
91-261-2896333 |
|
Mobile No.: |
91-9978912378 (Mr. Amit Dalmia) 91-9427637342 (Mr. Girish Kalawantia) |
|
Fax No.: |
91-261-2891000 |
|
E-Mail : |
|
|
Location : |
Owned |
DIRECTORS
AS ON 28.09.2013
|
Name : |
Mr. Amitkumar Anandbhai Dalmia |
|
Designation : |
Director |
|
Address : |
C/602/603, Regncy Tower, Dumas Road, Piplod, Surat – 394 550, Gujarat,
India |
|
Date of Birth/Age : |
27.08.1977 |
|
Date of Appointment : |
19.02.2004 |
|
DIN No.: |
00034642 |
|
PAN No.: |
ABBPD6392C |
|
|
|
|
Name : |
Mr. Anandbhai Vasudevji Dalmia |
|
Designation : |
Director |
|
Address : |
C/602/603, Regncy Tower, Dumas Road, Piplod, Surat – 394 550, Gujarat,
India |
|
Date of Birth/Age : |
01.03.1949 |
|
Date of Appointment : |
19.02.2004 |
|
DIN No.: |
00034652 |
|
PAN No.: |
ABBPD6393D |
|
|
|
|
Name : |
Mr. Deepak A. Dalmia |
|
Designation : |
Director |
|
Address : |
C/602/603, Regncy Tower, Dumas Road, Piplod, Surat – 394 550, Gujarat,
India |
|
Date of Birth/Age : |
29.11.1979 |
|
Date of Appointment : |
02.02.2006 |
|
DIN No.: |
00050547 |
|
PAN No.: |
ABBPD6396G |
KEY EXECUTIVES
|
Name : |
Mr. Girish Kalawantia |
|
Designation : |
Accountant |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 28.09.2013
|
Names of Shareholders |
|
No. of Shares |
|
Anand Kumar V. Dalmia |
|
20250 |
|
Amit Kumar A. Dalmia |
|
53900 |
|
Mayfair Vinimay Private Limited, India |
|
220000 |
|
Rawatkhedia Silk Mill Private Limited, India |
|
122000 |
|
Nirmit Dalmia |
|
82000 |
|
Deepak A. Dalmia |
|
82500 |
|
Bhagwati Syntex (Private) Limited, India |
|
97000 |
|
Sunaina Dalmia |
|
75000 |
|
Deepa Dalmia |
|
75000 |
|
Shashi Devi Dalmia |
|
80000 |
|
Nishka Dalmia |
|
75000 |
|
Total
|
|
982650 |
AS ON 23.10.2013
|
Names of Allottees |
|
No. of Shares |
|
Asan Investments and Financial Services Private Limited, India |
|
50000 |
|
Crown Crops Spience Private Limited, India |
|
50000 |
|
Khushi Industries Limited, India |
|
150000 |
|
Rishi Automation Private Limited, India |
|
50000 |
|
Total
|
|
300000 |
AS ON 28.09.2013
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Bodies
corporate |
|
44.68 |
|
Directors
or relatives of directors |
|
55.32 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject’s main business is to process art silk cloth on job work
basis. |
|
|
|
|
Terms : |
|
|
Selling : |
Cash and Credit |
|
|
|
|
Purchasing : |
Cash and Credit |
PRODUCTION STATUS [AS ON 31.03.2013]:
|
Particulars |
Unit |
Actual
Production |
|
Fabrics produced during the year |
Meters |
33291614.00 |
GENERAL INFORMATION
|
Customers : |
Manufacturer |
|||||||||||||||||||||
|
|
|
|||||||||||||||||||||
|
No. of Employees : |
200 (Approximately) |
|||||||||||||||||||||
|
|
|
|||||||||||||||||||||
|
Bankers : |
·
Bank of India, Surat Mid Corporate Branch,
Ghoddod Road, Surat – 395 001, Gujarat, India ·
HDFC Bank Limited, Ring Road Branch ·
HDFC Bank Limited, HDFC Bank House, Senapati
Bapat Marg, Lower Parel (West), Mumbai – 400 013, Maharashtra, India |
|||||||||||||||||||||
|
|
|
|||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking Relations
: |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Pradeep K. Singhi and Associates Chartered Accountants |
|
Address : |
A-501, President Plaza, Near R.T.O., Ring Road, Nanpura, Surat – 395
001, Gujarat, India |
|
Tel. No.: |
91-261-2474714/ 2474954 |
|
PAN No.: |
AAHFP8463D |
CAPITAL STRUCTURE
AFTER 28.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
2000000 |
Equity Shares |
Rs.10/- each |
Rs.20.000 millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
1282650 |
Equity Shares |
Rs.10/- each
|
Rs.12.827
millions |
|
|
|
|
|
AS ON 28.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
2000000 |
Equity Shares |
Rs.10/- each |
Rs.20.000 millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
982650 |
Equity Shares |
Rs.10/- each
|
Rs.9.827
millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1) Shareholders' Funds |
|
|
|
|
(a) Share Capital |
9.827 |
9.827 |
9.827 |
|
(b) Reserves & Surplus |
96.211 |
96.921 |
91.778 |
|
(c) Money received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
106.038 |
106.748 |
101.605 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) Long-term borrowings |
39.875 |
26.291 |
22.056 |
|
(b) Deferred tax liabilities (Net) |
12.401 |
14.976 |
18.740 |
|
(c) Other long
term liabilities |
0.000 |
0.000 |
0.000 |
|
(d) Long-term
provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
52.276 |
41.267 |
40.796 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
1.098 |
4.780 |
16.544 |
|
(b)
Trade payables |
28.879 |
32.398 |
33.086 |
|
(c)
Other current liabilities |
0.163 |
0.695 |
0.027 |
|
(d) Short-term
provisions |
5.183 |
7.252 |
4.720 |
|
Total Current
Liabilities (4) |
35.323 |
45.125 |
54.377 |
|
|
|
|
|
|
TOTAL |
193.637 |
193.140 |
196.778 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i)
Tangible assets |
69.492 |
74.073 |
84.375 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
0.137 |
0.137 |
0.000 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.150 |
4.650 |
0.150 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
15.513 |
12.701 |
10.306 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
85.292 |
91.561 |
94.831 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
56.989 |
48.897 |
44.902 |
|
(c)
Trade receivables |
46.168 |
47.038 |
48.715 |
|
(d) Cash
and cash equivalents |
0.475 |
0.344 |
0.673 |
|
(e)
Short-term loans and advances |
0.255 |
0.201 |
0.144 |
|
(f)
Other current assets |
4.458 |
5.099 |
7.513 |
|
Total
Current Assets |
108.345 |
101.579 |
101.947 |
|
|
|
|
|
|
TOTAL |
193.637 |
193.140 |
196.778 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from Operations |
216.482 |
263.473 |
295.070 |
|
|
|
Other Income |
0.343 |
0.359 |
0.632 |
|
|
|
TOTAL (A) |
216.825 |
263.832 |
295.702 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
167.589 |
194.166 |
220.446 |
|
|
|
Purchases of stock-in-trade |
0.008 |
14.622 |
17.486 |
|
|
|
Changes in inventories of finished goods, work-in-process and
stock-in-trade |
2.224 |
4.734 |
4.405 |
|
|
|
Employee Benefit Expenses |
22.255 |
21.008 |
18.022 |
|
|
|
Other Expenses |
9.971 |
8.310 |
8.304 |
|
|
|
TOTAL (B) |
202.047 |
242.840 |
268.663 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
14.778 |
20.992 |
27.039 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
3.122 |
2.478 |
4.157 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
11.656 |
18.514 |
22.882 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
13.086 |
12.782 |
11.751 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
(1.430) |
5.732 |
11.131 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
(0.720) |
0.590 |
7.138 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
(0.710) |
5.142 |
3.993 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
(0.72) |
5.23 |
4.06 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
(0.33)
|
1.95 |
1.35 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
(0.66)
|
2.18 |
3.77 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(0.74)
|
3.04 |
5.66 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.01)
|
0.05 |
0.11 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.39
|
0.29 |
0.38 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
3.07
|
2.25 |
1.87 |
LOCAL AGENCY FURTHER INFORMATION
Details of Current Maturities of Long Term
Debt: Not Available
|
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 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 |
Yes |
|
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 |
Yes |
|
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 |
10278603 |
09/03/2011 |
5,500,000.00 |
HDFC BANK
LIMITED |
HDFC BANK
HOUSESENAPATI BAPAT MARG, LOWER PAREL WEST, MUMBAI, MAHARASHTRA - 400013,
INDIA |
B10028660 |
|
2 |
10277666 |
18/03/2013 * |
619,900,000.00 |
BANK OF INDIA |
SURAT MID
CORPORATE BRANCH, GHODDOD ROAD, SURAT, |
B73003436 |
|
3 |
90105453 |
23/06/2009 * |
83,000,000.00 |
HDFC BANK
LIMITED |
HDFC BANK HOUSESENAPATI
BAPAT MARG, LOWER PAREL WEST, MUMBAI, MAHARASHTRA - 400013, INDIA |
A80093305 |
* Date of charge modification
|
Unsecured Loans |
31.03.2013 (Rs. in Millions) |
31.03.2012 (Rs. in Millions) |
|
LONG TERM BORROWINGS |
|
|
|
Loans and advances
from Related Parties |
23.972 |
11.404 |
|
SHORT TERM BORROWINGS |
|
|
|
Loans and
advances from Related Parties |
0.000 |
3.381 |
|
Total |
23.972 |
14.785 |
FIXED ASSETS:
·
Plant and Machinery
·
Air Conditioner
·
Building
·
Borewell
·
Electrification
·
EPABX System
·
Furniture and Fixtures
·
Land (Freehold)
·
Fire Extinguisher
·
Diesel Generator Set
·
Pipe Fittings
·
Computers
·
Television
·
Weighing Scale
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.61.67 |
|
|
1 |
Rs.100.65 |
|
Euro |
1 |
Rs.84.25 |
INFORMATION DETAILS
|
Information
Gathered by : |
HNA |
|
|
|
|
Report Prepared
by : |
SMN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
- |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
3 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTERS |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
27 |
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.