MIRA
INFORM REPORT
|
Report Date : |
26.02.2013 |
IDENTIFICATION DETAILS
|
Name : |
A L A CHEMICALS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
C-5, Chemical Zone, M.I.D.C, |
|
|
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Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
20.09.1966 |
|
|
|
|
Com. Reg. No.: |
11-013577 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.81.351 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24110MH1966PTC013577 |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACA3957H |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer, Importer and Exporter of PVC Additives. |
|
|
|
|
No. of Employees
: |
Information declined by the management. |
RATING & COMMENTS
|
MIRA’s Rating : |
B (27) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 240000 |
|
|
|
|
Status : |
Moderate |
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|
|
|
Payment Behaviour : |
Slow |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having a moderate track record.
There appears some accumulated losses recorded by the company. However, in the current year company performance seems to be improving
and earn some profit. Trade relations are reported to be fair. Business is active. Payments
are reported to be slow. The company can be considered for business dealings with some
cautions. |
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 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 |
CASH CREDIT : CRISIL B- |
|
Rating Explanation |
Having high risk of default regarding timely servicing of financial
obligation |
|
Date |
January, 2012 |
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 (GENERAL DETAILS)
|
Name : |
Mr. Sanjay |
|
Designation : |
Account Department |
|
Contact No.: |
91-22-66045252 |
|
Date : |
23.02.2012 |
LOCATIONS
|
Registered / Factory Office : |
C-5, Chemical Zone, M.I.D.C, |
|
Tel. No.: |
91-22-66045202 |
|
Fax No.: |
91-22-66045200 |
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E-Mail : |
|
|
Website : |
|
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|
|
|
Head Office : |
|
|
Tel. No.: |
91-22-66045252/66045202/66045216 |
|
Fax No.: |
91-22-66045200 |
|
E-Mail : |
DIRECTORS
As on 28.09.2012
|
Name : |
Mr. Anil Satish Anand |
|
Designation : |
Director |
|
Address : |
Vikas Park, Bunglow No. 2, Jalpankhi Society, Juhu Tara Road, Juhu,
Mumbai-400026, Maharashtra, India |
|
Date of Birth/Age : |
20.03.1951 |
|
Date of Appointment : |
01.11.1981 |
|
DIN No.: |
00188465 |
|
|
|
|
Name : |
Mrs. Neela Satish Anand |
|
Designation : |
Director |
|
Address : |
Vikas Park, Bunglow No. 2, Jalpankhi Society, Juhu Tara Road, Juhu,
Mumbai-400026, Maharashtra, India |
|
Date of Birth/Age : |
25.09.1929 |
|
Date of Appointment : |
15.04.2003 |
|
DIN No.: |
01119534 |
KEY EXECUTIVES
|
Name : |
Mr. Sanjay |
|
Designation : |
Account Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 28.09.2012
|
Names of Shareholders |
No. of Equity
Shares |
3% Cumulative
Redeemable Preference Shares |
7% Cumulative Redeemable Preference Shares |
|
Anil Anand |
2139000 |
185000 |
200000 |
|
Neela S Anand |
14040 |
20000 |
100000 |
|
Anchem Inc, U.S.A |
68600 |
-- |
-- |
|
S C A Private Limited, |
133460 |
-- |
-- |
|
Meera Anand |
280000 |
45.000 |
-- |
|
Total |
2635100 |
250000 |
300000 |
Equity Share Break up (Percentage of Total Equity)
As on 28.09.2012
|
Category |
Percentage |
|
Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s),
Non-resident Indian(s) or Overseas Corporate bodies or Others |
2.60 |
|
Bodies corporate |
5.06 |
|
Directors or relatives of Directors |
92.34 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer, Importer and Exporter of PVC Additives. |
|
|
|
|
Exports : |
|
|
Products : |
Finished Goods |
|
Countries : |
·
Middle East ·
Germany ·
Ethiopia |
|
|
|
|
Imports : |
|
|
Products : |
Raw Materials |
|
Countries : |
·
Germany ·
China |
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|
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Terms : |
|
|
Selling : |
Cash and Credit (30 Days / 60 Days) |
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|
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Purchasing : |
Cash and Credit (30 Days / 60 Days) |
GENERAL INFORMATION
|
Customers : |
Others (Industries) |
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No. of Employees : |
Information declined by the management. |
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Bankers : |
·
Syndicate Bank, 26-A, Sir Pherozeshah Mehta Road,
Fort, Mumbai-400001, Maharashtra, India ·
Union Bank of India, Mahalaxmi Branch, Mahalaxmi Chambers
Bhulabhai Desai Road, Mumbai – 400026, Maharashtra, India Contact
No.: 91-22-23512895) |
|||||||||||||||
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Facilities : |
(Rs. in Millions)
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|
|
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Banking
Relations : |
-- |
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|
|
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Auditors : |
|
|
Name : |
N. R. Patel and Company Chartered Accountants |
|
Address : |
63-B, Narayan Apartments, 4th Floor, Flat No.7 and 8, Main Avenue, Santacruz (West), Mumbai-400054, Maharashtra, India |
|
PAN.: |
AAGPP5135M |
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|
|
|
Related Parties
: |
A L A Chemicals Trading Private Limited |
CAPITAL STRUCTURE
As on 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2650000 |
Equity Shares |
Rs.10/- each |
Rs.26.500 Millions |
|
585000 |
Preference Shares |
Rs.100/- each |
Rs.58.500 millions |
|
|
Total |
|
Rs.85.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2635100 |
Equity Shares |
Rs.10/- each |
Rs.26.351
Millions |
|
550000 |
Preference Shares |
Rs.100/-
each |
Rs.55.000
Millions |
|
|
Total |
|
Rs.81.351 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 |
81.351 |
81.351 |
51.351 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
0.000 |
0.000 |
(27.522) |
|
|
4] (Accumulated Losses) |
(22.508) |
(23.830) |
0.000 |
|
|
NETWORTH |
58.843 |
57.521 |
23.829 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
64.254 |
59.369 |
59.922 |
|
|
2] Unsecured Loans |
67.337 |
69.765 |
85.052 |
|
|
TOTAL BORROWING |
131.591 |
129.134 |
144.974 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
190.434 |
186.655 |
168.803 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
40.600 |
41.062 |
44.577 |
|
|
Capital work-in-progress |
10.140 |
10.140 |
10.139 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
|
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
0.000 |
0.000 |
0.000 |
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
137.941
|
125.466
|
71.229 |
|
|
Sundry Debtors |
53.812
|
81.451
|
79.338 |
|
|
Cash & Bank Balances |
14.634
|
25.565
|
15.753 |
|
|
Other Non-Current Assets |
14.457
|
11.766
|
0.000 |
|
|
Other Current Assets |
22.163
|
4.193
|
2.296 |
|
|
Loans & Advances |
2.771
|
2.997
|
43.910 |
|
Total
Current Assets |
245.778
|
251.438
|
212.526 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
76.846
|
86.924
|
69.179 |
|
|
Other Current Liabilities |
13.161
|
12.773
|
13.969 |
|
|
Provisions |
16.077
|
16.288
|
15.291 |
|
Total
Current Liabilities |
106.084
|
115.985
|
98.439 |
|
|
Net Current Assets |
139.694
|
135.453
|
114.087 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
190.434 |
186.655 |
168.803 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
|
|
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL |
481.612 |
499.767 |
424.085 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
480.290 (Including
Depreciation) |
496.075 (Including
Depreciation) |
415.231 |
|
|
|
|
|
|
|
|
|
PROFIT/LOSS
BEFORE TAX, DEPRECIATION AND AMORTISATION) |
|
|
8.854 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
|
|
8.083 |
|
|
|
|
|
|
|
|
|
|
PROFIT/LOSS
BEFORE TAX |
1.322 |
3.692 |
0.771 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT/LOSS
AFTER TAX |
1.322 |
3.692 |
0.771 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
NA |
(30.777) |
(31.020) |
|
|
|
|
|
|
|
|
|
|
APPROPRIATIONS |
NA |
NA |
(0.528) |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
NA |
NA |
(30.777) |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
46.497 |
11.337 |
26.325 |
|
|
|
Commission Earnings |
15.434 |
0.252 |
0.285 |
|
|
TOTAL EARNINGS |
61.931 |
11.589 |
26.610 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
49.761 |
65.522 |
48.731 |
|
|
TOTAL IMPORTS |
49.761 |
65.522 |
48.731 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
0.50 |
1.40 |
NA |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
0.27
|
0.74
|
0.18 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.46
|
1.26
|
0.30 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.02
|
0.06
|
0.03 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
2.24
|
2.24
|
6.08 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.32
|
2.17
|
2.16 |
LOCAL AGENCY FURTHER INFORMATION
DETAILS OF SUNDRY CREDITORS
(Rs. In Millions)
|
Particulars |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
|
|
|
Trade Payables |
76.846 |
86.924 |
69.179 |
|
Total |
76.846 |
86.924 |
69.179 |
|
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 |
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 |
Yes |
|
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 |
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 |
Yes |
DETAILS OF
UNSECURED LOAN
(Rs. In Millions)
|
Particulars |
31.03.2012 |
31.03.2011 |
|
|
|
|
|
Deposits from others |
0.620 |
1.369 |
|
Loans and advances from directors |
66.717 |
68.396 |
|
Total |
67.337 |
69.765 |
NOTE:
Registered office of the company has been
shifted from B Asement, Mahalaxmi Chambers, 22 Bhulabhai Desai Road, Mumbai – 400026,
Maharashtra, India to be present address w.e.f 04.06.2005
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate identity number of the company |
U24110MH1966PTC013577 |
|
Name of the company |
A L A CHEMICALS PRIVATE LIMITED |
|
Address of the registered office or of the principal place of business in India of the company |
C-5, Chemical Zone, M.I.D.C, Kalyan Badlapur Road, Ambernath (West), Thane-421501, Maharashtra, India E-mail: anil@alachemicals.com |
|
This form is for |
Creation of charge |
|
Charge identification (ID) number of the charge to be modified |
10016733 |
|
Type of charge |
Book debts Movable property (not being pledge) |
|
Particular of charge holder |
Union Bank of India, Mahalaxmi Branch, Mahalaxmi Chambers, 22, Bhulabhai Desai Road, Mumbai – 400026, Maharashtra, India E-Mail Id : cbsmahalaxmi@unionbankofindia.com |
|
Nature of instrument creating charge |
Hypothecation agreement of goods and debts |
|
Date of instrument Creating the charge |
19.12.2012 |
|
Amount secured by the charge |
Rs.5.000 Millions |
|
Brief of the principal terms an conditions and extent and operation of the charge |
Rate of Interest Interest at base rate + 5.50% + 2.00% = 18.00% per annum with monthly rests or at such other revised rate/s as may be prescribed by the bank from time to time. Terms of Repayment On Demand Margin Margin : 25% Extent and Operation of the charge To secure an adhoc cash credit limit of Rs.5.000 Millions granted by the bank to the company |
|
Short particulars of the property or asset(s) charged (including complete address and location of the property) |
The borrower hypothecates by way of first charge in favour of the bank :- (1) Stock of chemicals and movable property of any kind now or at any time hereafter belonging to or at the disposal of the borrower and which are now stored or being stored or which hereafter may from time to time be brought into or stored or be in or about the borrower's premises or godown/s at Ambernath and at other places hired by the borrower for the purposes of storage in the union of India or wherever else the same may be. (2) The borrower's book debts, outstandings, monies, deposits, receivables, claims and bills, contracts, securities, investments which are now due and owing or which may at any time hereafter during the continuance of this security becoming due and owing to the borrower in the course of its business by any person or party including any government or any local or public body or authority. |
FIXED ASSETS:
·
·
Building, Road, Office
Premises
·
Plant and Machinery
·
Electrical Installation
·
Laboratory Equipments
·
Technical Know how
·
Furniture and Fixture
·
Office Equipment
·
Vehicles
·
Computers
·
Printers
·
Fax Machine
·
Bore well
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.54.04 |
|
|
1 |
Rs.81.80 |
|
Euro |
1 |
Rs.71.41 |
INFORMATION DETAILS
|
Information
Gathered by : |
PLK |
|
|
|
|
Report Prepared
by : |
BSN |
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 |
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 |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
27 |
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.