MIRA
INFORM REPORT
|
Report Date : |
31.12.2013 |
IDENTIFICATION DETAILS
|
Name : |
ASHOKA PROPERTIES PRIVATE LIMITED |
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Registered
Office : |
101, Kalpataru
Synergy, Opposite Grand Hyatt, Santacruz (East), Mumbai – 400055, |
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Country : |
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Financials (as
on) : |
31.03.2013 |
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Date of
Incorporation : |
22.01.2007 |
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Com. Reg. No.: |
11-167182 |
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Capital
Investment / Paid-up Capital : |
Rs. 0.900
Million |
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CIN No.: [Company Identification
No.] |
U45200MH2007PTC167182 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
MUMA30096D |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Real Estate Developers. |
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No. of Employees
: |
Information declined by managment |
RATING & COMMENTS
|
MIRA’s Rating : |
B (29) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
|
Maximum Credit Limit : |
USD 107000 |
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|
Status : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate track record. External borrowing of the company appears to be huge. However, trade relation are fair. Business is active. Payment terms
are slow but correct. The company can be considered for business dealing 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
India’s current
account deficit narrowed in the quarter ended September as government measures
to curb imports, especially gold, kicked in. The current account deficit,
the excess of a country’s imports of goods and services over exports, narrowed to
$ 5.2 billion from $ 21 billion in the year ago period, according to
provisional Reserve Bank of India data. Finance Minister P. Chidambaram said
the CAD for the year will be less than $ 60 billion or 3 per cent of GDP and
the latest data suggests the government may achieve the target.
India was ranked 94th
among the world’s most corrupt nations list. Denmark and New Zealand topped as
the cleanest while Somalia emerged as the most corrupt.
India’s services
sector activity witnessed a moderate improvement in November over the previous
month, even while indicating the fifth successive monthly contraction,
according the HSBC survey.
$53 million
estimated losses suffered by India due to phishing attacks during the third
quarter, according to a study by RSA. India ranks fourth in the list of nations
hit by phishing attacks. The US remained at the top of the charts. Phishing is
the process of acquiring information such as user names, passwords and credit
card details by sending e-mails disguised as official mails.
Rs.4080 million
worth of mobile-phone-based transactions by July 2013 compared to Rs.260
million in September, 2012, according to Deloitte report. The number of
transactions has shot up from 94000 to 701000.
India aims to earn Rs.400000
million from the bandwidth auction set for January. The merger and acquisition
guidelines, cleared by a group of ministers, will be out before the auction
begins so that players can make informed decisions on the auctions.
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 DECLINED
MANAGEMENT NON-COOPERATIVE (Tel. No.: 91-22-30645000)
LOCATIONS
|
Registered/ Corporate Office : |
101, Kalpataru
Synergy, Opposite Grand Hyatt, Santacruz (East), Mumbai – 400055, Maharashtra, India |
|
Tel. No.: |
91-22-30645000 |
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Fax No.: |
91-22-30643131 |
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E-Mail : |
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Website : |
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Thane Branch Office
: |
Kalpataru Properties (Thane) Private Limited Siddhachal Shopping Complex, 1st Floor, Pokhran Road No. 2,
Near Vasant Vihar, Thane (West), Thane - 400601, Maharashtra, India |
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Tel. No.: |
91-22-21713737/ 21713734 |
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Fax No.: |
91-22-21713735 |
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E-Mail : |
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Pune Branch Office : |
Kalpataru Limited Plot No 2, Level 3 and 4, Galaxy Garden, Next to Mocha
Café, North Main Road, Koregaon Park, Pune – 411001, Maharashtra, India |
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Tel. No.: |
91-20-30413000 |
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Pune Sales Office : |
Kalpataru Limited Kalpataru Gardens, 9A, Boat Club Road, Opposite Narangi
Baug, Next to HDFC Bank, Pune – 411001, Maharashtra, India |
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Tel. No.: |
91-20-26162516 |
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Fax No.: |
91-20-30413016 |
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E-Mail : |
DIRECTORS
As on 27.09.2013
|
Name : |
Mr. Parag Mofatraj Munot |
|
Designation : |
Director |
|
Address : |
“Munot Villa”, Westfield Compound Lane, 63K, Bhulabhai Desai Road, Mumbai
– 400026, Maharashtra, India |
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Date of Birth/Age : |
02.06.1969 |
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Date of Appointment : |
25.01.2007 |
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DIN No.: |
00136337 |
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Name : |
Mr. Narendra Shantilal Lodha |
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Designation : |
Director |
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Address : |
3C, 101 and 102, Kalpataru Estate, Building No. 3 CHS Limited,
Jogeshwari Vikroli Link Road, Andheri (East), Mumbai – 400093, Maharashtra,
India |
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Date of Birth/Age : |
10.11.1963 |
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Date of Appointment : |
15.07.2008 |
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DIN No.: |
00318630 |
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Name : |
Mr. Suhas Ratilal Merchant |
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Designation : |
Director |
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Address : |
Trupti, 1133/2, Shivali Nagar, Pune – 411016, Maharashtra, India |
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Date of Birth/Age : |
09.12.1948 |
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Date of Appointment : |
15.07.2008 |
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DIN No.: |
00330351 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 27.09.2013
|
Names of Shareholders |
|
No. of Shares |
|
Kalpataru Limited, India |
|
89940 |
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Mofatraj P. Munot [Nominee of Kalpataru Limited, India] |
|
10 |
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Parag M. Munot [Nominee of Kalpataru Limited, India] |
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10 |
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Monica P. Munot [Nominee of Kalpataru Limited, India] |
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10 |
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Sudha R. Golechha [Nominee of Kalpataru Limited, India] |
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10 |
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Sunita V. Choraria [Nominee of Kalpataru Limited, India] |
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10 |
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Rajesh B. Golechha [Nominee of Kalpataru Limited, India] |
|
10 |
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Total |
|
90000 |
As on 27.09.2013
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
Bodies corporate |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Real Estate Developers. |
GENERAL INFORMATION
|
No. of Employees : |
Information declined by managment |
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Bankers : |
·
Axis Bank Limited, Corporate Credit Branch, Axis
House, Ground Floor, C-2, Wadia International Centre, P.B. Road, Worli,
Mumbai - 400025, Maharashtra, India |
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Facilities : |
NOTE: *Cash Credit facility from a bank is secured by way of
mortagage of land and structures (along with underlying receivables) being/ to
be developed at manjiri, Pune and also by way of corporate guarantee issued
by the holding company. |
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Banking
Relations : |
-- |
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Financial Institution: |
LIC Housing Finance Limited, Bombay Life Building, 2nd Floor,
45/47, Veer Nariman Road, Mumbai - 400001, Maharashtra, India |
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Auditors : |
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Name : |
MGB and Company Chartered Accountants |
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Address : |
Jolly Bhavan 2, 1st Floor, 7, New Marine Lines, Churchgate, Mumbai – 400020,
Maharashtra, India |
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Tel. No.: |
91-22-66332330 |
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Fax No.: |
91-22-66351545 |
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E-Mail : |
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Website: |
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Income-tax
PAN of auditor or auditor's firm : |
AAAFM5742R |
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Associates/
Subsidiaries : |
· Abacus Enviro Farms Private Limited Abacus Orchards Private Limited Abacus Real Estate Private Limited Abhiruchi Orchards Private Limited. Agile Enviro Farms Private Limited* Agile Orchards Private Limited* Amber Enviro Farms Private Limited Amber Orchards Private Limited Ambrosia Enviro Farms Private Limited Ambrosia Real Estate Private Limited Anant Enviro Farms Private Limited* Anant Orchards Private Limited Appropriate Enviro Farms Private Limited Ardour Developers Private Limited Ardour Properties Private Limited Ardour Real Estate Private Limited $ Arena Orchards Private Limited Arimas Developers Private Limited Arimas Real Estate Private Limited Ashoka Orchards Private Limited Aspen Enviro Farms Private Limited Aspen Orchards Private Limited* Astrum Developers Private Limited Astrum Orchards Private Limited Aura Enviro Farms Private Limited* Aura Orchards Private Limited Aura Real Estate Private Limited Axiom Orchards Private Limited Azure Tree Enviro Farms Private Limited Azure Tree Lands Private Limited Azure Tree Orchards Private Limited Girirajkripa Developers Private Limited Kalpataru Constructions (Poona) Private Limited Kalpataru Gardens Private Limited Kalpataru Land (Surat) Private Limited Kalpataru Land Private Limited Kalpataru Retail Ventures Private Limited Kalpataru Properties (Thane) Private Limited Kanani Real Estate Private Limited Kiah Constructions Private Limited Kiah Properties Private Limited Kiyana Properties Private Limited Propnova Properties Private Limited Shravasti Property Private Limited @ Sona Properties Private Limited @ Swarn Bhumi Township Private Limited |
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Enterprises
controlled by the holding company : |
· Ananta Ventures LLP* Aseem Ventures LLP Azure Tree Developers LLP Kalpak Property Ventures LLP Kalpataru + Sharyans Kalpataru Constructions (Pune) Kalpataru Enterprises Kalpa-Taru Property Ventures LLP Kalpataru Shubham Enterprises Kamdhenu Constructions Kanani Developers LLP Kara Property Ventures LLP @ Kiyana Ventures LLP sShravasti Ventures LLP |
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Other related
parties with whom transactions have taken place during the year or balances
outstanding at the period end : |
Kalpataru Properties Private Limited |
Note
*Ceased to be subsidiaries w.e.f. 31 December 2012
$Merged with the holding company (Kalpataru Limited) w.e.f. 1 April 2012
@Merged with fellow subsidiary the fellow subsidiarv (Kalpataru Retail Ventures Private Limited) w.e.f. 1 April 2012.
CAPITAL STRUCTURE
As on 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
100,000 |
Equity Shares |
Rs. 10/- each |
Rs. 1.000 Million |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
|
|
|
|
90,000 |
Equity Shares |
Rs. 10/- each |
Rs. 0.900
Million |
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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 |
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|
|
|
(a) Share Capital |
0.900 |
0.900 |
0.100 |
|
(b) Reserves & Surplus |
25.979 |
10.082 |
(0.697) |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
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|
|
|
|
(2) Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
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Total
Shareholders’ Funds (1) + (2) |
26.879 |
10.982 |
(0.597) |
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(3)
Non-Current Liabilities |
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|
(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
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(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(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) |
0.000 |
0.000 |
0.000 |
|
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(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
789.411 |
632.984 |
621.957 |
|
(b) Trade payables |
94.842 |
28.330 |
40.974 |
|
(c) Other current
liabilities |
116.859 |
81.120 |
6.468 |
|
(d) Short-term provisions |
8.306 |
3.989 |
0.000 |
|
Total Current Liabilities (4) |
1009.418 |
746.423 |
669.399 |
|
|
|
|
|
|
TOTAL |
1036.297 |
757.405 |
668.802 |
|
|
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|
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II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
0.981 |
0.979 |
0.329 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
0.000 |
0.000 |
0.000 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
0.008 |
0.004 |
1.537 |
|
(d) Long-term Loan and Advances |
0.000 |
0.000 |
0.245 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
0.989 |
0.983 |
2.111 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
827.506 |
665.191 |
620.831 |
|
(c) Trade receivables |
20.361 |
68.553 |
0.000 |
|
(d) Cash and cash
equivalents |
1.576 |
21.507 |
4.378 |
|
(e) Short-term loans and
advances |
185.858 |
1.142 |
41.476 |
|
(f) Other current assets |
0.007 |
0.029 |
0.006 |
|
Total Current Assets |
1035.308 |
756.422 |
666.691 |
|
|
|
|
|
|
TOTAL |
1036.297 |
757.405 |
668.802 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
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|
|
|
|
|
|
|
|
|
|
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|
Other Income |
|
|
|
|
|
|
TOTAL |
283.566 |
140.346 |
0.146 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
259.573 |
123.868 |
0.333 |
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
23.993 |
16.478 |
(0.187) |
|
|
|
|
|
|
|
|
|
Less |
TAX |
8.097 |
5.698 |
1.194 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
15.896 |
10.780 |
(1.381) |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’
BALANCE BROUGHT FORWARD |
10.082 |
(0.698) |
0.683 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
25.978 |
10.082 |
(0.698) |
|
|
|
|
|
|
|
|
|
|
Earnings/ (Loss)
Per Share (Rs.) |
176.62 |
119.78 |
(138.06) |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
5.61
|
7.68
|
(945.89) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.32
|
2.18
|
(0.03) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.89
|
1.50
|
0.31 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
29.37
|
57.64
|
(1041.80) |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.03
|
1.01
|
1.00 |
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 |
No |
|
9] |
Name of person contacted |
No |
|
10] |
Designation of contact
person |
No |
|
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 |
Yes |
|
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 |
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 |
CURRENT MATURITIES OF
LONG TERM DEBTS: NOT AVAILABLE
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
10362531 |
29/06/2012 |
750,000,000.00 |
AXIS BANK
LIMITED |
CORPORATE CREDIT
BRANCH, AXIS HOUSE, GROUND FLOOR, C-2, WADIA INTERNATIONAL CENTRE, P.B. ROAD,
WORLI, MUMBAI - 400025, MAHARASHTRA, INDIA |
B42417055 |
UNSECURED LOANS
|
PARTICULAR |
31.03.2013 (Rs.
in Millions) |
31.03.2012 (Rs.
in Millions) |
|
SHORT TERM
BORROWINGS |
|
|
|
Loans and Advances from related parties |
|
|
|
Holding Company |
42.900 |
532.633 |
|
Others |
0.000 |
100.351 |
|
Total |
42.900 |
632.984 |
CHANGE OF ADDRESS
The registered office of the company has been shifted from Unit No. F-1,
1st Floor, Shanti Nagar Co-operative Industrial Estate Limited, Vakola, Santacruz
(East), Mumbai – 400055, Maharashtra, India to the present w.e.f.03.02.2007.
OPERATIONS
The company is developing Premium Residential Project known as
“Kalpataru Serenity” in Manjri, Pune. The Construction and Execution work of
the said project is in full swing and the progree is satisfactory. The
directors are exploring other business opportunities.
CONTINGENT
LIABILITIES (AS ON 31.03.2013) :
Bank guarantee issued in favour of Maharashtra Pollution Control Board Rs. 1.000 Million (Rs. 1.000 Million).
FIXED ASSETS:
· Furniture and Fixture
Computers
Construction
Equipments
Office
Equipments
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.62.00 |
|
|
1 |
Rs.102.17 |
|
Euro |
1 |
Rs.85.19 |
INFORMATION DETAILS
|
Information Gathered
by : |
NYA |
|
|
|
|
Report Prepared
by : |
MRI |
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 |
4 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--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 |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
29 |
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.