|
Report Date : |
23.12.2013 |
IDENTIFICATION DETAILS
|
Name : |
AJE INDIA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
3rd Floor, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
01.09.2009 |
|
|
|
|
Com. Reg. No.: |
11-195413 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.48.434 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U15400MH2009PTC195413 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMA36057A |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAHCA9177A |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer and Trader in all types of Foods and Beverages Products. |
|
|
|
|
No. of Employees
: |
200 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca (11) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Unknown |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having a moderate track record. The management has failed to file its financial record with government
department for the year 2012 & 2013. As per previous financial of 2011, there appears huge accumulated
losses recorded by the company, which has eroded the net worth of the
company. Profitability of the company seems to be under pressure. Business is active. Payment terms are unknown. The company can be considered for business dealings on safe and secured
trade terms and conditions. |
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 |
|
Restricted |
C2 |
|
Off-credit |
D |
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. Chetan Oswal |
|
Designation : |
Accounts Manager |
|
Contact No.: |
91-8007981725 |
|
Date : |
20.12.2013 |
LOCATIONS
|
Registered Office : |
3rd Floor, Yusuf Building, Mahatma Gandhi Road, Mumbai –
400001, Maharashtra, India |
|
Tel. No.: |
Not Available |
|
Mobile No.: |
91-8007981725 (Mr. Chetan Oswal) |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Location : |
Rented |
|
|
|
|
Factory/ Corporate Office : |
Plot No. A – 21/1, 2, 3 MIDC Patalganga, Khalapur – 410220,
Maharashtra, India |
|
Tel. No.: |
91-2192-668000 |
|
Area : |
6000 sq. m. (App.) (Premises – MIDC Leased for 99 acres) |
|
Location : |
Rented |
DIRECTORS
(AS ON 17.09.2012)
|
Name : |
Mr. Claver Epifanio Pantoja Cadillo |
|
Designation : |
Director |
|
Address : |
Jr. Rio Ucayall 5645, Urb. Villa Del Norte, Los Olivos, Otro – 005639,
Peru |
|
Date of Birth/Age : |
09.09.1969 |
|
Date of Appointment : |
02.09.2009 |
|
DIN No.: |
02758899 |
|
|
|
|
Name : |
Mr. Hernan Augusto Cordova Solis |
|
Designation : |
Director |
|
Address : |
700/318 Soi 14, MOD 6, Amata Nakhon Industrial Estates Road, Don hua lo
sub-di, Mueang Chon Buri, DI’ Chon Buri Province – 20000, Thailand |
|
Date of Birth/Age : |
15.09.1972 |
|
Date of Appointment : |
26.11.2009 |
|
DIN No.: |
02791626 |
|
|
|
|
Name : |
Mr. Carlos Enrique Ananos Jeri |
|
Designation : |
Director |
|
Address : |
Paseo Alcobendas, 14-14, Bajo, La Moraleja, Alcobendas, Madrid –
028109, Spain |
|
Date of Birth/Age : |
03.06.1966 |
|
Date of Appointment : |
17.12.2009 |
|
DIN No.: |
02816885 |
KEY EXECUTIVES
|
Name : |
Mr. Chetan Oswal |
|
Designation : |
Accounts Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
(AS ON 17.09.2012)
|
Names of Shareholders |
|
No. of Shares |
|
|
|
|
|
Kinlest Investments S.L |
|
3591266 |
|
Callpa Limited |
|
16400129 |
|
|
|
|
|
Total |
|
19991395 |
(AS ON 15.06.2013)
|
Names of Allottee |
|
No. of Shares
Allotment |
|
|
|
|
|
Callpa Limited, Malta |
|
2315113 |
|
Kinlest Investments S.L, Spain |
|
29780743 |
|
|
|
|
|
Total |
|
32095856 |
(AS ON 14.12.2012)
|
Names of Allottee |
|
No. of Shares
Allotment |
|
|
|
|
|
Callpa Limited, Malta |
|
6589184 |
|
Kinlest Investments S.L, Spain |
|
7006120 |
|
|
|
|
|
Total |
|
13595304 |
(AS ON 17.09.2012)
Equity Shares Break – up
|
Category |
|
Percentage |
|
|
|
|
|
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 : |
Manufacturer and Trader in all types of Foods and Beverages Products. |
||||
|
|
|
||||
|
Products : |
|
||||
|
|
|
||||
|
Imports : |
|
||||
|
Products : |
· Raw Materials · Packaging Materials · Machines |
||||
|
Countries : |
· Thailand · China |
||||
|
|
|
||||
|
Terms : |
|
||||
|
Selling : |
Cash and Credit ( days) |
||||
|
|
|
||||
|
Purchasing : |
T.T. |
PRODUCTION STATUS (AS ON 31.03.2013)
|
Particulars |
Unit |
Installed Capacity |
Actual Production |
|
|
|
|
|
|
Carbonated Beverage |
Cases |
5,882,688 |
67,033 |
GENERAL INFORMATION
|
Suppliers : |
· Manju Shree |
||||||||||||||||||
|
|
|
||||||||||||||||||
|
Customers : |
Wholesalers, Retailer, Dealer and Distributor · Future Group · D’Mart |
||||||||||||||||||
|
|
|
||||||||||||||||||
|
No. of Employees : |
200 (Approximately) |
||||||||||||||||||
|
|
|
||||||||||||||||||
|
Bankers : |
ICICI Bank |
||||||||||||||||||
|
|
|
||||||||||||||||||
|
Facilities : |
|
||||||||||||||||||
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Price Waterhose and Company Chartered Accountants |
|
Address : |
252, Veer SAvarkar Marg, Shivaji Park, Dadar (West), Mumbai – 400028,
Maharashtra, India |
|
PAN No.: |
AADFP9359C |
|
|
|
|
Other Related Parties : |
· Calpa Limited, Malta · Kinlest Investment, S.L., Spain · Ayacucho Preforms Company Limited · AJE Vietnam Company Limited · AJE Thai Company Limited |
CAPITAL STRUCTURE
(AS ON 17.09.2012)
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
100000000 |
Equity Shares |
Rs.10/- each |
Rs.1000.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
65682555 |
Equity Shares |
Rs.10/- each |
Rs.656.826
Millions |
|
|
|
|
|
(AS ON 31.03.2011)
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000000 |
Equity Shares |
Rs.10/- each |
Rs.100.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4843395 |
Equity Shares |
Rs.10/- each |
Rs.48.434
Millions |
|
|
|
|
|
FINANCIAL DATA
[All figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2011 |
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
48.434 |
0.100 |
|
|
2] Share Application Money |
|
25.398 |
24.608 |
|
|
3] Reserves & Surplus |
|
0.000 |
0.000 |
|
|
4] (Accumulated Losses) |
|
(82.913) |
(8.162) |
|
|
NETWORTH |
|
(9.081) |
16.546 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
163.316 |
0.000 |
|
|
2] Unsecured Loans |
|
275.830 |
93.300 |
|
|
TOTAL BORROWING |
|
439.146 |
93.300 |
|
|
DEFERRED TAX LIABILITIES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
430.065 |
109.846 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
404.629 |
0.097 |
|
|
Capital work-in-progress |
|
4.129 |
76.922 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
39.598 |
0.000 |
|
|
Sundry Debtors |
|
0.795 |
0.000 |
|
|
Cash & Bank Balances |
|
6.657 |
35.335 |
|
|
Other Current Assets |
|
0.005 |
0.017 |
|
|
Loans & Advances |
|
55.206 |
0.178 |
|
Total Current Assets |
|
102.261 |
35.530 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditor |
|
68.563 |
1.644 |
|
|
Other Current Liabilities |
|
12.176 |
1.021 |
|
|
Provisions |
|
0.215 |
0.038 |
|
Total
Current Liabilities |
|
80.954 |
2.703 |
|
|
Net Current Assets |
|
21.307 |
32.827 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
430.065 |
109.846 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income from Operations |
|
23.793 |
0.000 |
|
|
|
Other Income |
|
7.590 |
0.022 |
|
|
|
TOTAL |
|
31.383 |
0.022 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
|
106.135 |
8.177 |
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
|
(74.752) |
(8.155) |
|
|
|
|
|
|
|
|
|
Less |
TAX |
|
0.000 |
0.007 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
|
(74.752) |
(8.162) |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
|
(8.162) |
0.000 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
|
(82.914) |
(8.162) |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw and Packaging Materials |
|
27.225 |
NA |
|
|
|
Stores & Spares |
|
0.398 |
NA |
|
|
|
Capital Goods |
|
221.372 |
NA |
|
|
TOTAL IMPORTS |
|
248.995 |
NA |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
|
(24.03) |
(816.17) |
|
|
Particulars |
|
31.03.2013 |
31.03.2012 |
|
Sales Turnover (Approximately) |
|
400.000 |
200.000 |
Expected Sales (2013-14): Rs.500.000 Millions
The above information has been parted by Mr. Chetan Oswal.
Note: Business Started
from 2010-2011.
KEY RATIOS
|
PARTICULARS |
|
|
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
|
(238.19) |
(37100.00) |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
|
(314.18) |
0.00 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
|
(14.75) |
(22.89) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
|
8.23 |
(0.49) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
|
(48.36) |
5.64 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
|
1.26 |
13.14 |
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 |
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 |
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 |
UNSECURED LOAN
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
|
|
(Rs. In Millions) |
|
|
External
Commercial Borrowing Callpa Limited,
Malta Payable in
Foreign Currency - USD 1,500,000 Repayable
after a period of 5 years,
in installments over 5 years. Add: Interests Accrued and due |
66.975 2.625 |
69.975 -- |
|
|
69.600 |
69.975 |
|
|
|
|
|
External
Commercial Borrowing Callpa Limited,
Malta Payable in Foreign
Currency - USD 3,00,000 Repayable
after a period of 1 year, in installments over 4 years. Add: Interest Accrued and Due |
156.275 3.719 |
23.325 -- |
|
|
159.994 |
23.325 |
|
|
|
|
|
External Commercial Borrowings Kinlest Investments S.L, Spain Payable in Foreign Currency – USD 1,024,985, Repayable after a Period
of 1 years in Installment over 9 years Add: Interests accrued and due |
45.766 0.470 |
-- -- |
|
|
46.236 |
|
|
|
|
|
|
Total |
275.830 |
93.300 |
NOTE:
The Registered office of the company has been
shifted form Office No.1, 1st Floor, Fine Mansion, 203, D. N. Road,
Fort, Mumbai – 400001, Maharashtra, India, to the present address w.e.f.
26.10.2009.
TRADE REFERENCE:
· Manju Shree
· Future Group
· D’Mart
CONTINGENT LIABILITIES
|
Particulars |
31.03.2011 |
31.03.2010 |
|
|
(Rs. In
Millions) |
|
|
Letter of Credit Issued by Bank |
0.300 |
7.700 |
INDEX OF CHARGES
|
S.No. |
Charge
ID |
Date
of Charge Creation/Modification |
Charge
amount secured |
Charge
Holder |
Address |
Service
Request Number (SRN) |
|
1 |
10254990 |
01/12/2010 |
162,113,079.00 |
Sacmi
Imola S.C. |
Via
Selice Provinciale N.17/a, Imola Bologna, - 40026, Italy |
B01632736 |
FIXED ASSETS:
· Computer Software
· Plant and Machinery
· Building
· Leasehold Land
· Office Equipment
· 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.62.24 |
|
|
1 |
Rs.101.81 |
|
Euro |
1 |
Rs.84.88 |
INFORMATION DETAILS
|
Information Gathered
by : |
HNA |
|
|
|
|
Report Prepared
by : |
NIT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
2 |
|
PAID-UP CAPITAL |
1~10 |
2 |
|
OPERATING SCALE |
1~10 |
2 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
2 |
|
--PROFITABILIRY |
1~10 |
-- |
|
--LIQUIDITY |
1~10 |
2 |
|
--LEVERAGE |
1~10 |
1 |
|
--RESERVES |
1~10 |
-- |
|
--CREDIT LINES |
1~10 |
-- |
|
--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 |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
11 |
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.