|
Report Date : |
23.12.2013 |
IDENTIFICATION DETAILS
|
Name : |
POLYPLASTICS INDUSTRIES (INDIA) PRIVATE LIMITED |
|
|
|
|
Registered Office
: |
O/15, Industrial Area, Yamuna Nagar – 135001, Haryana |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
08.09.2008 |
|
|
|
|
Com. Reg. No.: |
05-38320 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs.32.181
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U51103HR2008PTC038320 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
RTKP04660F |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAECP8535C |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer and Exporter of Precision Plastic Engineering Components.
|
|
|
|
|
No. of Employees
: |
500 [Approximately] |
RATING & COMMENTS
|
MIRA’s Rating : |
B (26) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 571200 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Unknown |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having moderate track record. The
management has failed to file its financial with government department for the
year 2013. Further financial for the year 2012 is not made available with us.
As per previous financial of 2011, external borrowing of the company
seems to be increasing over a year. However, trade relations are fair. Business is active. Payment terms
are unknown. The company can be considered for business dealing with great 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 – March 31st, 2013
|
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
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.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
B [Long Term] |
|
Rating Explanation |
Risk prone credit quality and high risk of default |
|
Date |
03.01.2013 |
|
Rating Agency Name |
CRISIL |
|
Rating |
A4 [Short Term] |
|
Rating Explanation |
Minimal degree of safety and very high credit risk. |
|
Date |
03.01.2013 |
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. Narendra Sharma |
|
Designation : |
Finance Department |
|
Contact No.: |
91-1732-291000 |
|
Date : |
19.12.2013 |
LOCATIONS
|
Registered Office/ Factory 1 : |
O/15, Industrial Area, Yamuna Nagar – 135001, Haryana, India |
|
Tel. No.: |
91-1732-291000 |
|
Fax No.: |
91-1732-251530 |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
|
|
|
|
Factory 2 : |
B -32, MIDC Industrial Area, Ranjangaon, Pune, |
DIRECTORS
AS ON 28.09.2012
|
Name : |
Mr. Kamal Gupta |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Managing Director |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Address : |
O/2, Industrial Area, Yamuna Nagar – 135001, |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
11.09.1963 |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
01.04.2009 |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Din No.: |
00650800 |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Other Directorship:
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Name : |
Mr. Kapil Gupta |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Director |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Address : |
O/2, Industrial Area, Yamuna Nagar – 135001, |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
19.01.1965 |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
01.04.2009 |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Din No.: |
00650724 |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Other Directorship:
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
KEY EXECUTIVES
|
Name : |
Mr. Narendra Sharma |
|
Designation : |
Finance Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 28.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
Kamal Gupta |
|
2162500 |
|
Kapil Gupa |
|
2162500 |
|
Urmilla Gupta |
|
4000 |
|
Preeti Gupta |
|
4000 |
|
Sherry Gupta |
|
4000 |
|
Ravinder Pandita |
|
100 |
|
Rajdeep Chandel |
|
100 |
|
Chandan Singh Rawat |
|
100 |
|
Lekh Raj |
|
100 |
|
Raj Bharat Oberoi |
|
100 |
|
Sandeep Garg |
|
100 |
|
M.L. Miglani |
|
100 |
|
Sanjeev Kumar Bakshi |
|
100 |
|
Anil Sirivastav |
|
100 |
|
Rajesh Kumar Sharma |
|
100 |
|
Santosh Puri |
|
10 |
|
Satish Chander Saluja Karta and Sunita Saluja |
|
10 |
|
Sanjeev Puri |
|
10 |
|
Diya Khanna and Satish Chandra Saluja |
|
10 |
|
Khanna and Satish Chandra Saluja |
|
10 |
|
Gayatri Saluja and Satish Chander Saluja |
|
10 |
|
Manju Sharma |
|
10 |
|
Pushpa Kumar and Rati Puri |
|
10 |
|
Rati Puri |
|
10 |
|
Raman Saluja Karta and Samlra Saluja |
|
10 |
|
Samira Saluja and Ramn Saluja |
|
10 |
|
Veena Sayal |
|
10 |
|
|
|
|
|
TOTAL
|
|
4338120 |
AS ON 28.09.2012
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Directors
or relatives of directors |
|
99.98 |
|
Other
top fifty shareholders |
|
0.02 |
|
TOTAL |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Precision Plastic Engineering Components.
|
|
|
|
|
Exports : |
|
|
Products : |
Finished Goods |
|
Countries : |
·
Finland ·
Italy ·
UK ·
Australia ·
Germany ·
Japan |
|
|
|
|
Imports : |
|
|
Products : |
Raw Materials |
|
Countries : |
·
Japan ·
Sweden |
|
|
|
|
Terms : |
|
|
Selling : |
LC / Cash and Credit |
|
|
|
|
Purchasing : |
LC / Cash and Credit |
GENERAL INFORMATION
|
Customers : |
End Users and OEM’s |
||||||||||||
|
|
|
||||||||||||
|
No. of Employees : |
500 [Approximately] |
||||||||||||
|
|
|
||||||||||||
|
Bankers : |
· Canara Bank, Jawaharlal Market Radaur Road, Yamuna Nagar – 135001, Haryana, India · State Bank of India, Main Bazar Branch, Railway Station Road, Yamuna Nagar-135001, Haryana, India |
||||||||||||
|
|
|
||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Financial Institution : |
·
Tata Capital Limited, One Forbes, Dr. V.B. Gandhi
Marg, Fort, Mumbai-400001, Maharashtra, India ·
Intec Capital Limited, 701, Manjusha, 57 Nehru
Place, New Delhi-110019, India |
|
|
|
|
Auditors : |
|
|
Name : |
Moudgil and Company Chartered Accountants |
|
Address : |
Khera Bazar, Jagadhari-135003, Haryana, India |
|
PAN No: |
AAEFM6159Q |
CAPITAL STRUCTURE
AS ON 28.09.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
5000000 |
Equity Shares |
Rs.10/- each |
Rs.50.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
4338120 |
Equity Shares |
Rs.10/- each
|
Rs.43.381
Millions |
AS ON 31.03.2011
Authorized Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
5000000 |
Equity Shares |
Rs.10/- each |
Rs.50.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
3218120 |
Equity Shares |
Rs.10/- each
|
Rs.32.181
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 |
32.181 |
10.000 |
0.100 |
|
|
2] Share Application Money |
20.000 |
30.120 |
0.119 |
|
|
3] Reserves & Surplus |
90.619 |
25.813 |
0.000 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
142.800 |
65.933 |
0.219 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
388.907 |
294.071 |
0.000 |
|
|
2] Unsecured Loans |
84.716 |
90.929 |
0.000 |
|
|
TOTAL BORROWING |
473.623 |
385.000 |
0.000 |
|
|
DEFERRED TAX LIABILITIES |
25.935 |
17.049 |
0.000 |
|
|
MINORITY INTEREST |
0.150 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
642.508 |
467.982 |
0.219 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
468.798 |
276.370 |
0.000 |
|
|
Capital work-in-progress |
11.370 |
161.878 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
4.645 |
4.644 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
114.870
|
67.560 |
0.000 |
|
|
Sundry Debtors |
228.711
|
150.604 |
0.000 |
|
|
Cash & Bank Balances |
45.220
|
9.654 |
0.043 |
|
|
Other Current Assets |
16.219
|
0.000 |
0.000 |
|
|
Loans & Advances |
142.794
|
66.163 |
0.000 |
|
Total
Current Assets |
547.814
|
293.981 |
0.043 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
324.041
|
132.277 |
0.000 |
|
|
Other Current Liabilities |
0.000
|
80.280 |
0.000 |
|
|
Other Liabilities |
56.567
|
48.106 |
0.000 |
|
|
Provisions |
19.053
|
8.387 |
0.000 |
|
Total
Current Liabilities |
399.661
|
269.050 |
0.000 |
|
|
Net Current Assets |
148.153
|
24.931 |
0.043 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
9.542 |
0.159 |
0.176 |
|
|
|
|
|
|
|
|
TOTAL |
642.508 |
467.982 |
0.219 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
|
|
|
|
|
|
|
TURNOVER |
1118.314 |
900.162 |
0.000 |
|
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
114.153 |
83.706 |
0.000 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
63.063 |
32.456 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX |
51.090 |
51.250 |
0.000 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
NA |
NA |
NA |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
Return on Total Assets (PBT/Total Assets} |
(%) |
5.02
|
8.99 |
0.00 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.35
|
0.77 |
0.00 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
3.32
|
5.84 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.37
|
1.09 |
0.00 |
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 |
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) |
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] |
PAN of Proprietor/Partner/Director, if available |
No |
|
32] |
Date
of Birth of Proprietor/Partner/Director, if available |
Yes |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
Yes |
INDEX OF CHARGES:
|
S. No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10284516 |
31/01/2013 * |
695,000,000.00 |
STATE BANK OF
INDIA |
MAIN BAZAR
BRANCH, RAILWAY STATION ROAD, YAMUNA NAGAR - 135001, HARYANA, INDIA |
B67751123 |
|
* Date of charge modification |
||||||
|
Unsecured Loan |
As
on 31.03.2011 [Rs.
In Millions] |
As
on 31.03.2010 [Rs.
In Millions] |
|
Rupee term loans financial institutions |
24.801 |
14.101 |
|
Directors loans |
59.915 |
76.828 |
|
TOTAL
|
84.716 |
90.929 |
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 records 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.84.87 |
INFORMATION DETAILS
|
Information
Gathered by : |
PLK |
|
|
|
|
Report Prepared
by : |
TPT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
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 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
2 |
|
--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 |
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
26 |
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.