MIRA
INFORM REPORT
|
Report Date : |
21.02.2013 |
IDENTIFICATION DETAILS
|
Name : |
ABHINANDAN INTEREXIM PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
32, Chowringhee Road, Om Tower, Park Street, 11th Floor,
Kolkata-700071, West Bengal |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
23.11.1993 |
|
|
|
|
Com. Reg. No.: |
21-060780 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.12.084
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U67120WB1993PTC060780 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
CALA09325B |
|
|
|
|
PAN No.: [Permanent Account No.] |
AACCA2399D |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Liquid Packaging Polythene Bag, Food Packaging
Polythene Film and Laminated Polythene Film.
|
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (43) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 308000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
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|
|
Litigation : |
Clear |
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|
Comments : |
Subject is an established company having satisfactory track record. Trade
relations are reported as fair. Business is active. Payments are reported to
be usually correct and as per commitments. The company can be considered normal for business dealings at usual
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 – June 30, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
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 is developing into an open-market economy, yet traces
of its past autarkic policies remain. Economic liberalization, including
industrial deregulation, privatization of state-owned enterprises, and reduced
controls on foreign trade and investment, began in the early 1990s and has
served to accelerate the country's growth, which has averaged more than 7% per
year since 1997. India's diverse economy encompasses traditional village
farming, modern agriculture, handicrafts, a wide range of modern industries,
and a multitude of services. Slightly more than half of the work force is in
agriculture, but services are the major source of economic growth, accounting
for more than half of India's output, with only one-third of its labor force.
India has capitalized on its large educated English-speaking population to
become a major exporter of information technology services and software
workers. In 2010, the Indian economy rebounded robustly from the global
financial crisis - in large part because of strong domestic demand - and growth
exceeded 8% year-on-year in real terms. However, India's economic growth in
2011 slowed because of persistently high inflation and interest rates and
little progress on economic reforms. High international crude prices have
exacerbated the government's fuel subsidy expenditures contributing to a higher
fiscal deficit, and a worsening current account deficit. Little economic reform
took place in 2011 largely due to corruption scandals that have slowed legislative
work. India's medium-term growth outlook is positive due to a young population
and corresponding low dependency ratio, healthy savings and investment rates,
and increasing integration into the global economy. India has many long-term
challenges that it has not yet fully addressed, including widespread poverty,
inadequate physical and social infrastructure, limited non-agricultural
employment opportunities, scarce access to quality basic and higher education,
and accommodating rural-to-urban migration.
|
Source
: CIA |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
BB + [Letter of Credit] [Suspended] |
|
Rating Explanation |
Moderate risk of default |
|
Date |
24.01.2013 |
NOTE: Reason for Suspended is not available.
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.
LOCATIONS
|
Registered Office : |
32, Chowringhee Road, Om Tower, Park Street, 11th Floor,
Kolkata-700071, West Bengal, India |
|
Tel. No.: |
Not Available |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
|
|
|
Factory : |
Union Board Road, Jalkhura Maheshtala No. 24, Parganas,
Kolkata-700141, West Bengal, India |
|
Tel No.: |
91-33-23352242/24928420/22265996 |
|
Fax No.: |
91-33-30227637 |
DIRECTORS
AS ON 30.09.2012
|
Name : |
Mr. Prabhakar Patnaik |
|
Designation : |
Director |
|
Address : |
Patna Chemicals Works, Mogalpura, Patna-800008, Bihar, India |
|
Date of Birth/Age : |
20.10.1972 |
|
Date of Appointment : |
01.10.2011 |
|
Din No.: |
03326923 |
|
|
|
|
Name : |
Ms. Shilpi Khanuja |
|
Designation : |
Director |
|
Address : |
3A, Balu Kakak, Kolkata-700017, West Bengal, India |
|
Date of Birth/Age : |
10.01.1976 |
|
Date of Appointment : |
01.10.2011 |
|
Din No.: |
00520546 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
Neena Agarwal |
|
33950 |
|
Deepak Kumar Agarwal |
|
7500 |
|
Rukmani Agarwal |
|
57750 |
|
G. Raj and Company (Consultant) Limited, India |
|
50000 |
|
Vikash Kumar Agarwal |
|
496000 |
|
Glorious Holding Private Limited, India |
|
150000 |
|
Gurukul Properties Private Limited, India |
|
50000 |
|
Kirti Tracon Private Limited, India |
|
50000 |
|
Plus Jet Finvest Private Limited, India |
|
50000 |
|
Scionara Finvest Private Limited, India |
|
50000 |
|
Sri Balmukund Polyplast Private Limited, India |
|
99180 |
|
Ganga Plastic Products Private Limited |
|
510000 |
|
Smita Agarwal |
|
395000 |
|
|
|
|
|
TOTAL
|
|
1999380 |
AS ON 30.09.2012
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Bodies
corporate |
|
50.50 |
|
Other
top fifty shareholders |
|
49.50 |
|
TOTAL |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Liquid Packaging Polythene Bag, Food Packaging
Polythene Film and Laminated Polythene Film. |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
|||||||||||||||||||||||||||
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|||||||||||||||||||||||||||
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Bankers : |
State Bank of India, SME Branch, Ballygunge, 50A, Gariahat Road, 5th
Floor, Kolkata-700019, West Bengal, India |
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Facilities : |
|
|
|
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Banking Relations
: |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Nishant Agarwal and Associates Chartered Accountants |
|
Address : |
2/37, Ashok Nagar, NSC Bose Road, Tollygunge, Kolkata-700040, West
Bengal, India |
|
PAN No: |
AJTPA6386P |
CAPITAL STRUCTURE
AS ON 30.09.2012
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 |
|
1998380 |
Equity Shares |
Rs.10/- each
|
Rs.19.983
Millions |
AS ON 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
1750000 |
Equity Shares |
Rs.10/- each |
Rs.17.500 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
1208380 |
Equity Shares |
Rs.10/- each
|
Rs.12.084
Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
12.084 |
11.084 |
6.484 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
64.982 |
53.848 |
28.800 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.00 |
|
|
NETWORTH |
77.066 |
64.932 |
35.284 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
88.784 |
142.733 |
34.443 |
|
|
2] Unsecured Loans |
2.913 |
2.790 |
14.992 |
|
|
TOTAL BORROWING |
91.697 |
145.523 |
49.435 |
|
|
DEFERRED TAX LIABILITIES |
0.112 |
0.092 |
0.096 |
|
|
|
|
|
|
|
|
TOTAL |
168.875 |
210.547 |
84.815 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
10.366 |
10.589 |
11.094 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
3.080 |
3.085 |
2.605 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
122.683
|
26.593 |
21.595 |
|
|
Sundry Debtors |
379.297
|
127.149 |
68.160 |
|
|
Cash & Bank Balances |
33.399
|
79.538 |
16.317 |
|
|
Other Current Assets |
0.809
|
0.000 |
0.000 |
|
|
Loans & Advances |
30.789
|
14.203 |
8.667 |
|
Total
Current Assets |
566.977
|
247.483 |
114.739 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
240.203
|
29.363 |
38.220 |
|
|
Other Current Liabilities |
169.809
|
20.715 |
1.703 |
|
|
Provisions |
1.537
|
0.532 |
3.711 |
|
Total
Current Liabilities |
411.549
|
50.610 |
43.634 |
|
|
Net Current Assets |
155.428
|
196.873 |
71.105 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.011 |
|
|
|
|
|
|
|
|
TOTAL |
168.875 |
210.547 |
84.815 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
494.474 |
584.283 |
|
|
|
Other Income |
|
17.732 |
3.499 |
|
|
|
TOTAL (A) |
NA |
512.206 |
587.782 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
|
83.068 |
119.081 |
|
|
|
Cost of Goods Sold |
|
404.358 |
443.090 |
|
|
|
Manufacturing Expenses |
|
5.880 |
6.035 |
|
|
|
Selling and Administrative Expenses |
|
3.472 |
2.858 |
|
|
|
Increase/Decreased in Stocks |
|
(4.461) |
0.103 |
|
|
|
TOTAL (B) |
NA |
492.317 |
571.167 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
|
19.889 |
16.615 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
|
9.143 |
6.683 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
|
10.746 |
9.932 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
NA |
0.877 |
0.884 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
10.827 |
9.869 |
9.048 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
3.693 |
3.222 |
2.860 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
7.134 |
6.647 |
6.188 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
16.273 |
9.625 |
3.437 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
23.407 |
16.272 |
9.625 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
3.57 |
8.62 |
9.54 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
NA
|
1.30 |
1.05 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
NA
|
2.00 |
1.55 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.87
|
3.82 |
7.19 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.14
|
0.15 |
0.25 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
1.19
|
2.24 |
1.40 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.37
|
4.89 |
2.63 |
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 two 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 |
Yes |
|
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 |
BANKERS CHARGES REPORT
AS PER REGISTRY
|
This form is for |
Modification of
charge |
|
Charge
identification number of the modified |
10059119 |
|
Corporate
identity number of the company |
U67120WB1993PTC060780 |
|
Name of the
company |
ABHINANDAN
INTEREXIM PVT LTD |
|
Address of the
registered office or of the principal place of business in |
32, Chowringhee Road, Om Tower, Park Street, 11th Floor,
Kolkata-700071, West Bengal, India |
|
Type of charge |
Immovable property |
|
Particular of charge
holder |
State Bank of India, SME Branch, Ballygunge, 50A, Gariahat Road, 5th
Floor, Kolkata-700019, West Bengal, India Email: sbi.04140@sbi.co.in |
|
Nature of
description of the instrument creating or modifying the charge |
Memorandum of
Deposit for Creation of further Charge for Overall Limit where the Initial
Charge is Created by way of Mortgage by Deposit of Title Deeds (2 Sets). |
|
Date of
instrument Creating the charge |
04.06.2012 |
|
Amount secured by
the charge |
Rs.253.800
Millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest Cash Credit: Base
Rate + 4.50% p.a. Terms of Repayment Working Capital
Limit is repayable on demand. Margin As stipulated by
the Bank for the respective assets from time to time. Raw Materials :
25%, Stocks in process
: 25%, Finished Goods :
25%, LC : 20% and Book
Debts/Receivables : 25%. Extent and Operation of the charge The charge operates
as first charge basis on the whole of the mortgaged properties of the Company
to secure the maximum amount under the said charge fixed at Rs.253.800
Millions together with interest, costs and charges thereon. Others The Borrower
shall not do or allow anything which may prejudice the security and shall
comply with the terms and conditions of the Agreements. |
|
Short particulars
of the property charged |
All the piece and
parcel of land measuring 6 cottah 8 chittaks 30 sq. ft. with pucca factory shed
in RS Dag No.450 under R.S. Khatian No.188, Mouza Jalkhura P.S. Maheshtala
District 24 Pgs (S), W.B. Under Deed
No.I-2897, Book No. I, Volume 76, pages 48 to 61, Being No.2897 for the year
2006 together with Deed No.I-10673 Book No. I, pages 1 to 10, Being No.10673
for the year 2006. All the piece and
parcel of land measuring more or less 5 cottha with pucca factory shed
situated at Mouza Chakmir JL No.8 Touzi No.2826, RS Dag No.502, Khatian
No.163(old), 220(New),P.S. Maheshtala Ward No.17,
District 24 Pgs (S) under Deed No.I-3495, Book No. I, Volume 7, Pages 9045 to
9054, being No.03495 for the year 2009 together with 00969, Book No. I,
Volume No.2, Pages 10180 to 10194, Being No.00969 for the year 2009. |
|
Date of latest modification
prior to the present modification |
08.09.2010 |
|
Particulars of
the present modification |
By this
modification, charge on mortgaged properties of the Company situated at Mouza
Jalkhura and Chakmir, P.S. Maheshtala District 24 Pgs (S) extended to secure
the enhanced overall limit of Rs.253.800 Millions as stated under together
with interest, costs and charges thereon: CC : Rs.25.000
Millions CC (for Trading)
: Rs.25.000 Millions LC : Rs.200.000
Millions Credit Exposure
Limit: Rs.3.800 Millions. All other terms
and conditions continue to remain as before in full force and effect. |
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.54.05 |
|
UK Pound |
1 |
Rs.83.45 |
|
Euro |
1 |
Rs.72.54 |
INFORMATION DETAILS
|
Report Prepared
by : |
TPT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
4 |
|
--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 |
|
TOTAL |
|
43 |
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.