MIRA
INFORM REPORT
|
Report Date : |
11.01.2013 |
IDENTIFICATION DETAILS
|
Name : |
ARCELORMITTAL DISTRIBUTION SOLUTIONS INDIA PRIVATE
LIMITED [w.e.f. 29.07.2009] |
|
|
|
|
Formerly Known
As : |
ARCELORMITTAL-STAINLESS INTERNATIONAL INDIA PRIVATE LIMITED [w.e.f.
27.05.2008] ARCELOR STAINLESS INDIA PRIVATE LIMITED |
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Registered
Office : |
A/403 and B/402, 4th Floor, Delphi, Hiranandani Business
Park, Powai, Mumbai - 400076 |
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Country : |
India |
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|
|
Financials (as
on) : |
31.03.2011 |
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Date of
Incorporation : |
09.05.2003 |
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Com. Reg. No.: |
11-140373 |
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Capital
Investment / Paid-up Capital : |
Rs.2.724
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U51420MH2003PTC140373 |
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|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMA22249D |
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PAN No.: [Permanent Account No.] |
AAECA5521B |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Trading and Importer of all Kind of Steel Products. |
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No. of Employees
: |
65 [Approximately] |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (50) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 590000 |
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|
Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having satisfactory track record.
Latest financials i.e. 2011-12 are missing from the government department.
From the available financials of 2011 the company seems to be progressing well.
The company has improved its performance in the year 2010-2011. 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.
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 |
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. Shravan Mulky |
|
Designation : |
Finance Manager |
|
Contact No.: |
91-8898701147 |
LOCATIONS
|
Registered Office : |
A/403 and B/402, 4th Floor, Delphi, Hiranandani Business
Park, Powai, Mumbai – 400076 |
|
Tel. No.: |
91-22-42489504 |
|
Mobile No.: |
91-8898701147 (Mr. Shravan Mulky) |
|
Fax No.: |
91-22-67029546 |
|
E-Mail : |
anandrai.prakash@arcelormittal.com
shravan.mulky@arcelormittal.com
bhaskar.pendse@arcelormittal.com |
|
Website: |
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|
Area : |
6000 Sq. ft |
|
Location: |
Owned |
DIRECTORS
As on 28.09.2012
|
Name : |
Mr. Vijaykumar Brahma Bhatnagar |
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Designation : |
Director |
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Address : |
Flat No.22, Tower P1, ATS Green Village, Sector-93A, Noida Exp. Way,
Noida-201301, Uttar Pradesh, India |
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Date of Birth/Age : |
21.08.1947 |
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Date of Appointment : |
27.08.2009 |
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Din No.: |
02200026 |
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Other Directorship :
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Name : |
Mr. Manjunath Gopal Raghavelu |
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Designation : |
Whole Time Director |
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Address : |
Flat No. 2 B, 2nd Floor, Lotia Mansion, 453, 15th
Road, Opposite Khar Gymkhana Ground, Khar (West), Mumbai-400052, Maharashtra,
India |
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Date of Birth/Age : |
09.06.1976 |
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Date of Appointment : |
01.01.2012 |
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Din No.: |
02491745 |
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Other Directorship :
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Name : |
Mr. Raj Kumar Saxena |
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Designation : |
Director |
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Address : |
Flat No. 141, Nehru Apartments, Kalkaji, New Delhi-110019, India |
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Date of Birth/Age : |
09.05.1950 |
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Date of Appointment : |
27.09.2011 |
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Din No.: |
01146693 |
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Other Directorship :
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KEY EXECUTIVES
|
Name : |
Mr. Shravan |
|
Designation : |
Finance Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 27.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
Manjunath Raghavelu |
|
1 |
|
Arcelor Foundation Solutions BV, Netherlands |
|
298138 |
|
Total |
|
298139 |
As on 24.02.2012
|
Names of Allottees |
|
No. of Shares |
|
Arcelor Foundation Solutions BV, Netherlands |
|
25740 |
|
Total |
|
25740 |
As on 24.02.2012
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
100.00 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Trading and Importer of all Kind of Steel Products.. |
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Product : |
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Imports : |
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Products : |
·
Steel Products |
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Countries : |
·
China ·
Dubai ·
Japan |
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Terms : |
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Selling : |
Cash and Credit |
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Purchasing : |
Cash and Credit |
GENERAL INFORMATION
|
Suppliers : |
Essar Steel |
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Customers : |
Wholesalers, Retailers, OEM’s and Traders ·
Larsen and Turbro |
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No. of Employees : |
65 [Approximately] |
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Bankers : |
·
HDFC Bank, Fort Branch, Mumbai, Maharashtra,
India ·
Bank of America, Nariman Point, Mumbai,
Maharashtra, India |
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Facilities : |
·
Total Facility Rs.1000.000 Millions (From HDFC Bank) ·
Total Facility Rs.1000.000 Millions (From Bank of America) |
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Banking
Relations : |
-- |
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Financial
Institution: |
Societe General,
Maker Chambers IV, 13th Floor, P.O. Box 11635, Nariman Point,
Mumbai-400021, Maharashtra, India |
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Auditors : |
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Name : |
Hinesh R. Doshi and Company Chartered Accountants |
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Address : |
102, First Floor, A Wing, Rajgir Court, 6 Kohinoor Road, Dadar (East),
Mumbai-400014, Maharashtra, India |
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Pan No.: |
AACFH3118C |
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Group Company: |
·
ArcelorMittal Projects Netherland ·
ArcelorMittal Commercial R.P.C. Sarl ·
ArcelorMittal International FZE ·
ArcelorMittal Flat Carbon Europe SA ·
Dubai Steel Trading Company LLC ·
Dubai Steel Trading Company LLC ·
ArcelorMittal International Luxemburg |
CAPITAL STRUCTURE
As on 28.09.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1000000 |
Equity Shares |
Rs.10/- each |
Rs.10.000 Millions |
|
|
|
|
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
298139 |
Equity Shares |
Rs.10/- each |
Rs. 2.981
Millions |
|
|
|
|
|
As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1000000 |
Equity Shares |
Rs.10/- each |
Rs.10.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
272399 |
Equity Shares |
Rs.10/- each |
Rs.2.724
Millions |
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|
|
|
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 |
2.724 |
2.724 |
2.724 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
146.728 |
29.462 |
28.253 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
149.452 |
32.186 |
30.977 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
0.000 |
0.000 |
0.000 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
149.452 |
32.186 |
30.977 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
13.012 |
4.371 |
0.942 |
|
|
Capital work-in-progress |
8.554 |
1.200 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.335 |
0.193 |
0.184 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
1289.017
|
55.819 |
1.600 |
|
|
Sundry Debtors |
931.403
|
0.041 |
4.189 |
|
|
Cash & Bank Balances |
58.990
|
2.308 |
28.698 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
197.636
|
53.719 |
14.873 |
|
Total
Current Assets |
2477.046
|
111.887 |
49.360 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
2229.867
|
53.769 |
0.376 |
|
|
Other Current Liabilities |
32.888
|
3.783 |
1.290 |
|
|
Provisions |
86.740
|
27.913 |
17.843 |
|
Total
Current Liabilities |
2349.495
|
85.465 |
19.509 |
|
|
Net Current Assets |
127.551
|
26.422 |
29.851 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
149.452 |
32.186 |
30.977 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
2968.730 |
68.310 |
|
|
|
|
Commission |
4.820 |
14.380 |
NA |
|
|
|
Other Income |
92.810 |
4.650 |
|
|
|
|
TOTAL (A) |
3066.360 |
87.340 |
NA |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Goods Sold |
2836.820 |
62.060 |
|
|
|
|
Employee Remuneration and Benefits |
18.080 |
7.670 |
NA |
|
|
|
Administrative Expenses |
31.370 |
14.920 |
|
|
|
|
TOTAL (B) |
2886.270 |
84.650 |
NA |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
180.090 |
2.690 |
NA |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
4.410 |
0.160 |
NA |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
175.680 |
2.530 |
18.281 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
1.390 |
0.710 |
0.546 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
174.290 |
1.820 |
17.735 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
57.020 |
0.610 |
6.266 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
117.270 |
1.210 |
11.469 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
26.500 |
25.290 |
32.496 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
0.000 |
0.000 |
1.147 |
|
|
|
Dividend |
0.000 |
0.000 |
14.982 |
|
|
|
Tax on Dividend |
0.000 |
0.000 |
2.546 |
|
|
BALANCE CARRIED
TO THE B/S |
143.770 |
26.500 |
25.290 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
1.149 |
0.000 |
0.000 |
|
|
|
Commission |
4.823 |
14.381 |
32.147 |
|
|
TOTAL EARNINGS |
5.972 |
14.381 |
32.147 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Traded Goods |
2223.575 |
98.371 |
135.299 |
|
|
TOTAL IMPORTS |
2223.575 |
98.371 |
135.299 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
430.50 |
4.44 |
-- |
|
|
Particulars |
|
|
31.03.2012 |
|
Sales Turnover [Approximately] |
|
|
4500.000 |
Expected Sales (2012-13) : Rs.7000.000 Millions.
The above information has been parted by Mr. Shravan Mulky
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
3.82
|
1.39 |
NA |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
5.87
|
2.66 |
NA |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
7.00
|
1.57 |
35.26 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
1.17
|
0.06 |
0.57 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
15.72
|
2.66 |
0.63 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.05
|
1.31 |
2.53 |
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 |
Yes |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
Yes |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact
person |
Yes |
|
11] |
Turnover of firm for last
three years |
Yes |
|
12] |
Profitability for last
three years |
Yes |
|
13] |
Reasons for variation
<> 20% |
-- |
|
14] |
Estimation for coming
financial year |
Yes |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
Yes |
|
18] |
Major customers |
Yes |
|
19] |
Payments terms |
Yes |
|
20] |
Export / Import details
(if applicable) |
Yes |
|
21] |
Market information |
-- |
|
22] |
Litigations that the firm
/ promoter involved in |
-- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking
account |
-- |
|
26] |
Buyer visit details |
-- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
No |
|
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 |
Note:
The Registered Office of the company has been shifted from 205, Sentinel,
Hiranandani Gardens, Powai, Mumbai – 400076, Maharashtra, India to the present address
w.e.f. 16.05.2012
BUSINESS OPERATIONS
AND FUTURE OUTLOOK:
During the year
the Company’s turnover has increased many fold mainly due to substantial
increase in trading activities of all kind of steel products, which has along
with other income, has resulted into substantial increase in net profit
compared to previous year and the same has been carried to balance sheet.
The Board of
Directors is hopeful of maintaining the upward trend in turnover and
profitability in the coming year.
CONTINGENT LIABILITIES: [AS ON 31.03.2011]
1. The Company has
availed bank guarantees amounting to Rs.0.131 million; however, the company
does not expect any estimated financial effect resulting into liability,
contingent or otherwise.
2. Estimated amount of contracts remaining to be executed on capital
account and not provided for is Rs.13.200 Millions towards construction of
Boundary Wall and purchase of machineries at warehouse site.
3. The company has changed the method of valuation of Inventories from FIFO
to weighted average basis as per global accounting policy followed by group
companies.
TRADE REFERENCES:
· Larsen and Turbro
· Essar Steel
FIXED ASSETS:
·
Software
·
Computer
·
Motor Car
·
Office Equipments
·
Furniture
·
Leasehold Improvements
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.54.63 |
|
|
1 |
Rs.87.50 |
|
Euro |
1 |
Rs.71.32 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Report Prepared
by : |
MRI |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
|
TOTAL |
|
50 |
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.