|
Report Date : |
21.12.2013 |
IDENTIFICATION DETAILS
|
Name : |
STARLING SILK MILLS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
2E, Radha Gobinda Saha Lane, Kolkata – 700017, West Bengal |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
23.07.1996 |
|
|
|
|
Com. Reg. No.: |
21-080568 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs. 2.461
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U17299WB1996PTC080568 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of a wide variety of Yarn and Silk Fabrics. |
|
|
|
|
No. of Employees
: |
Not Divulged |
RATING & COMMENTS
|
MIRA’s Rating : |
B (30) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
||
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
|
Maximum Credit Limit : |
USD 62196 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having moderate track record. Management of the company has not filed with its latest financial 2013
with the government department. As per of 2012, profitability of the company appears 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 caution. |
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 – June 30, 2012
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
India’s current account
deficit or CAD in April-June widened to 4.9 % of gross domestic product. High
imports of gold and oil led to a worsening of the traqde deficit, resulting in
CAD jumping to $ 21.8 billion to the latest quarter from $ 16.9 billion in the
corresponding quarter of the previous financial year. The government aims to
bring down CAD to 3.7 % or $ 70 billion, in 2013/14, from 4.8 % or $ 88.2
billion in 2012/13.
The finance ministry
has started preparations for Budget 2014/15. With general elections scheduled
to be held by May next year, there will only be an interim budget. The new
government will present the fiscal Budget.
The Supreme Court
has barred clinical trials for new drugs till a monitoring mechanism is put in
place to protect the lives of people on which the drugs are tested.
Mumbai has been
named the world’s second most honest city according to a survey on 15 cities
worldwide by Readers’ Digest magazine. Finnish capital Helsinki bagged the top spot
for the world’s most honest city while Lisbon, the capital of Portugal, proved
to be the least honest. The survey put hundreds of people to test in four
continents to find out just how honest they were by dropping wallets and seeing
how many would be returned.
3.7 % Growth of the
core sector in August, a seven month high. This takes the overall growth in
April-August this year to 2.3 % compared with 6.3 % in the corresponding period
next financial year.
$19 million
Estimated average spending by companies across the globe including India, on
social media this year, according to a global study by information technology
major Tata Consultancy Services. This will rise to $ 24 million in 2015.
Rising inflation,
fewer employment avenues and dwindling earnings are taking a toll on the
spending capacity in India. Over 72 % respondents from middle and lower middle
income families would be forced to slash their Diwali expenditure by 40 % and
on average spend nearly 25 % of their monthly salary on Diwali, according to a
survey by Assochem.
Analysts believe the
shutdown of the US government would have limited impact in sectors such as IT
or tourism that are dependent on Visa clearances.
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 DENIED BY
|
Name : |
Mr. Azizur Rahman |
|
Designation : |
Director |
|
Contact No.: |
91-9932046385 |
|
Date : |
04.12.2013 |
LOCATIONS
|
Registered Office : |
2E, Radha Gobinda Saha Lane, Kolkata – 700017, West Bengal, India |
|
Tel. No.: |
91-33-30520995 / 22877556
/ 91-3512-246385 |
|
Mobile No.: |
91-9434046455 / 9932046385 [Mr. M. A. Rahman] |
|
Fax No.: |
91-3512-246383 |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
2500 sq. ft. |
|
Location : |
Owned |
|
|
|
|
Factory : |
Unit Baranagar, P. O. Jalalpur, P S Kaliachak, District Malda -
732101, West Bengal, India |
|
Tel No.: |
91-33-30520995 |
|
Area : |
1500 sq. ft. |
|
Location : |
Owned |
DIRECTORS
AS ON 21.09.2012
|
Name : |
Mr. Azizur Rahman |
|
Designation : |
Director |
|
Address : |
Village – Baranagar, P. O. Jalalpur, Kaliachak, Malda – 732206, West Bengal,
India |
|
Date of Birth/Age : |
05.03.1965 |
|
Date of Appointment : |
23.07.1996 |
|
Voter ID No.: |
WB/07/048/411274 |
|
DIN No.: |
01013884 |
|
|
|
|
Name : |
Mrs. Selina Rahaman |
|
Designation : |
Director |
|
Address : |
Village – Baranagar, P. O. Jalalpur, Kaliachak, Malda – 732206, West
Bengal, India |
|
Date of Birth/Age : |
01.12.1975 |
|
Date of Appointment : |
23.07.1996 |
|
Voter ID No.: |
WB/07/048/459467 |
|
DIN No.: |
02146354 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 21.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
Azizur Rahman |
|
181200 |
|
Selina Rahman |
|
64900 |
|
Total |
|
246100 |
AS ON 21.09.2012
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Directors
or relatives of directors |
|
100.00 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of a wide variety of Yarn and Silk Fabrics. |
||||||
|
|
|
||||||
|
Products : |
|
GENERAL INFORMATION
|
No. of Employees : |
Not Divulged |
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Bankers : |
Ø Bank of Baroda, Malda
Branch, District Malda, Malda – 732101, West Bengal, India Ø Punjab National
Bank, New Alipore Branch, Block G, New Alipore, Kolkata - 700053, West
Bengal, India |
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Facilities : |
(Secured by hypothecation of Plant and
Machinery by way of 1st charge and collaterally secured by Factory Building and
guranteed by all the directors of the company) (Secured by hypothecation of stock of Raw
Materials, WIP, Finished goods and book debts by way of 1st. Charge and
collaterally secured by some fixed assets, properties owned by company and further
guranteed by all the Directors) |
||||||||||||||||||||||||
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Bhattacharya Sengupta and Company Chartered Accountants |
|
Address : |
10, Civil Row, 1st Floor, Kolkata – 700001, West Bengal, India |
|
Tel. No.: |
91-33-22421592 / 6386 |
|
Income-tax
PAN of auditor or auditor's firm : |
AAFFB3400Q |
CAPITAL STRUCTURE
AS ON 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
250,000 |
Equity Shares |
Rs. 10/- each |
Rs. 2.500 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
246,100 |
Equity Shares |
Rs. 10/- each |
Rs. 2.461
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2012 |
31.03.2011 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
2.461 |
2.461 |
|
(b) Reserves & Surplus |
|
13.088 |
12.280 |
|
(c) Money
received against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
|
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
|
15.549 |
14.741 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
|
2.460 |
10.290 |
|
(b) Deferred tax liabilities (Net) |
|
0.577 |
0.664 |
|
(c) Other long term liabilities |
|
17.360 |
23.560 |
|
(d) long-term provisions |
|
0.000 |
0.000 |
|
Total Non-current Liabilities (3) |
|
20.397 |
34.514 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
|
19.871 |
19.965 |
|
(b) Trade payables |
|
5.163 |
4.112 |
|
(c) Other current liabilities |
|
0.941 |
0.709 |
|
(d) Short-term provisions |
|
0.836 |
0.924 |
|
Total Current Liabilities (4) |
|
26.811 |
25.710 |
|
|
|
|
|
|
TOTAL |
|
62.757 |
74.965 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
39.721 |
40.120 |
|
(ii) Intangible Assets |
|
0.000 |
0.000 |
|
(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) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
0.000 |
0.000 |
|
(e) Other Non-current assets |
|
1.358 |
1.072 |
|
Total Non-Current Assets |
|
41.079 |
41.192 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
0.000 |
0.000 |
|
(b) Inventories |
|
18.821 |
27.128 |
|
(c) Trade receivables |
|
0.370 |
5.463 |
|
(d) Cash and cash
equivalents |
|
2.103 |
1.082 |
|
(e) Short-term loans and
advances |
|
0.384 |
0.000 |
|
(f) Other current assets |
|
0.000 |
0.100 |
|
Total Current Assets |
|
21.678 |
33.773 |
|
|
|
|
|
|
TOTAL |
|
62.757 |
74.965 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
2.461 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
11.594 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
14.055 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
35.913 |
|
|
2] Unsecured Loans |
|
|
29.760 |
|
|
TOTAL BORROWING |
|
|
65.673 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
79.728 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
39.467 |
|
|
Capital work-in-progress |
|
|
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.000 |
|
|
DEFERRED TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
38.737
|
|
|
Sundry Debtors |
|
|
6.471
|
|
|
Cash & Bank Balances |
|
|
0.437
|
|
|
Other Current Assets |
|
|
0.000
|
|
|
Loans & Advances |
|
|
1.364
|
|
Total
Current Assets |
|
|
47.009
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
4.743
|
|
|
Other Current Liabilities |
|
|
0.489
|
|
|
Provisions |
|
|
1.717
|
|
Total
Current Liabilities |
|
|
6.949
|
|
|
Net Current Assets |
|
|
40.060
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.201 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
79.728 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
87.133 |
82.339 |
78.473 |
|
|
|
Other Income |
2.728 |
1.027 |
0.732 |
|
|
|
TOTAL (A) |
89.861 |
83.366 |
79.205 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Raw material purchase minus return |
57.552 |
45.640 |
49.900 |
|
|
|
Change in inventories of finished goods, work-in-progress and
Stock-in-trade |
4.923 |
8.178 |
(4.582) |
|
|
|
Employee benefit expenses |
3.616 |
3.781 |
0.000 |
|
|
|
Other expenses |
14.443 |
15.706 |
0.000 |
|
|
|
Salaries and wages |
0.000 |
0.000 |
8.800 |
|
|
|
Other Manufacturing Expenses |
0.000 |
0.000 |
8.793 |
|
|
|
Administrative and Management Expenses |
0.000 |
0.000 |
2.829 |
|
|
|
Insurance charges |
0.000 |
0.000 |
0.596 |
|
|
|
Transformer connection Expenses written off |
0.000 |
0.000 |
0.100 |
|
|
|
TOTAL (B) |
80.534 |
73.305 |
21.118 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
9.327 |
10.061 |
12.769 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
3.825 |
4.687 |
5.098 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
5.502 |
5.374 |
7.671 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
4.200 |
4.218 |
4.285 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
1.302 |
1.156 |
3.386 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
0.494 |
0.470 |
1.026 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
0.808 |
0.686 |
2.360 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
4.498 |
0.529 |
0.839 |
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
3.28 |
2.79 |
9.59 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
0.90
|
0.82
|
2.98
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
1.49
|
1.40
|
4.31
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.07
|
1.54
|
3.92
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.08
|
0.08
|
0.24
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
1.44
|
2.05
|
4.67
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.81
|
1.31
|
6.76
|
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 |
No |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact
person |
Yes |
|
11] |
Turnover of firm for last
three years |
Yes |
|
12] |
Profitability for last
three years |
Yes |
|
13] |
Reasons for variation
<> 20% |
-- |
|
14] |
Estimation for coming
financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
No |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details
(if applicable) |
No |
|
21] |
Market information |
-- |
|
22] |
Litigations that the firm
/ promoter involved in |
-- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking account |
-- |
|
26] |
Buyer visit details |
-- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
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 |
Yes |
|
34] |
External Agency Rating,
if available |
No |
VIEW INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10030083 |
16/12/2010 * |
47,545,000.00 |
Bank of Baroda |
Malda Branch, District Malda, Malda, West Bengal |
B02489656 |
FIXED ASSETS
Ø
Land and Building
Ø
Factory Shed and Construction
Ø
Plant and Machinery
Ø
Furniture and Fixture
Ø
Motor Cycle
Ø
Computer
Ø
Lab Equipment
Ø
Transformer
Ø
Vehicles
Ø
Boiler
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. 62.24 |
|
|
1 |
Rs. 101.81 |
|
Euro |
1 |
Rs. 84.88 |
INFORMATION DETAILS
|
Information
Gathered by : |
NYA |
|
|
|
|
Report Prepared
by : |
SDA |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
4 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
30 |
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.