|
Report Date : |
12.01.2013 |
IDENTIFICATION DETAILS
|
Name : |
BEKAERT MUKAND WIRE INDUSTRIES PRIVATE LIMITED (w.e.f. 19.05.2011) |
|
|
|
|
Formerly Known
As : |
MUKAND BEKAERT WIRE INDUSTRIES PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
B-21, Lonand
Industrial Area (MIDC), Lonand, Taluka Khandala, Lonand Satara,
Satara-415521, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
24.08.2007 |
|
|
|
|
Com. Reg. No.: |
11-130605 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 950.000 millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U27104PN2007PTC130605 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
PNEM12289E |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAFCM1972K |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
The company had made an entry in Domestic and Export market For
Stainless Steel Wires |
|
|
|
|
No. of Employees
: |
Information denied by management |
RATING & COMMENTS
|
MIRA’s Rating : |
B (26) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 1900000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a subsidiary of ‘Bekaert Holdings B.V., Netherlands’ with effect
from March 31, 2011. It is an established company having a moderate track
record. The management of the company has not filed its financials with the
government department for the year 2012. As per previous year’s record, there appear huge accumulated losses
recorded by the company. It has incurred loss from its operations. Reserves
are also not maintained. However, trade relations are reported as fair. Business is active.
Payment terms are slow. The company can be considered for business dealings with great
caution. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
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 DECLINED
MANAGEMENT NON – CO-OPERATIVE (Tel. No.: 91-20-66276600)
LOCATIONS
|
Registered Office : |
B-21, Lonand Industrial Area (MIDC), Lonand, Taluka Khandala, Lonand
Satara, Satara-415521, Maharashtra, India |
|
Tel. No.: |
Not Available |
|
Fax No.: |
Not Available |
|
E-Mail : |
DIRECTORS
As on 30.09.2011
|
Name : |
Mr. Arvind Madhav Kulkarni |
|
Designation : |
Director |
|
Address : |
504, Swastic Apartments, Khopat, Thane – 400601, Maharashtra, India |
|
Date of Birth/Age : |
19.08.1951 |
|
Date of Appointment : |
24.08.2007 |
|
DIN No.: |
01656086 |
|
|
|
|
Name : |
Mr. Bruno Rene Cluydts |
|
Designation : |
Director |
|
Address : |
Leieriggestraat 44, |
|
Date of Birth/Age : |
13.11.1960 |
|
Date of Appointment : |
15.11.2007 |
|
DIN No.: |
01741987 |
|
|
|
|
Name : |
Mr. Henri Jean Velge |
|
Designation : |
Director |
|
Address : |
Route Gouvernementale 75, Brussels, 1150, Belguim |
|
Date of Birth/Age : |
10.10.1956 |
|
Date of Appointment : |
15.11.2007 |
|
DIN No.: |
01792002 |
|
|
|
|
Name : |
Mr. Kevin Mansell |
|
Designation : |
Director |
|
Address : |
Apartment No.501, Building No.A1, Brahma Suncity, Vadgaonsheri, Pune –
411014, Maharashtra, India |
|
Date of Birth/Age : |
06.06.1960 |
|
Date of Appointment : |
15.12.2008 |
|
DIN No.: |
02423271 |
KEY EXECUTIVES
|
Name : |
Mr. Mitil Kumar Birla |
|
Designation : |
Secretary |
|
Address : |
B-103, Lunkad Heritage ll, Near Dutta Mandir, Viman Nagar, Pune –
411014, Maharashtra, India |
|
Date of Birth/Age : |
16.04.1979 |
|
Date of Appointment : |
25.08.2008 |
|
Pan No: |
AJOPB2698G |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
Mukund Limited, |
|
13000000 |
|
Bekaert Holding B.V., Netherland |
|
81999999 |
|
Bekaert Investments NV, Belgium |
|
1 |
|
TOTAL |
|
95000000 |
Allottees as 31.03.2012
|
Names of Allottees |
|
No. of Shares |
|
Bekaert Holding B.V., Netharland |
|
95000000 |
|
TOTAL |
|
95000000 |
Equity Share Break up (Percentage of Total Equity)
As on 30.09.2011
|
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 |
86.32 |
|
Bodies corporate |
13.68 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
The company had made an entry in Domestic and Export market For
Stainless Steel Wires |
GENERAL INFORMATION
|
No. of Employees : |
Information denied by management |
|||||||||
|
|
|
|||||||||
|
Bankers / Financial Institution : |
Bekaert Holding
BV, J. C. van Markenstraat, 19, Assen - 9403, Netherlands |
|||||||||
|
|
|
|||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Deloitte Haskins and Sells Chartered Accountant |
|
Address : |
706, B-Wing, 7th Floor, |
|
PAN.: |
AABFD07919A |
|
|
|
|
Holding Company : |
Bekaert Holdings B.V., Netherlands |
|
|
|
|
Companies in
which Key Managerial Personnel or their relatives have control / significant
influence: |
·
Bekaert Industries Private Limited, India ·
Leon Bekaert S.P.A., Italy ·
Bekaert Hlohovec, a.s., Slovakia ·
Industrias Del Ubierna, S.A., Spain ·
Bekaert France SAS, France ·
Bekaert Limited ·
Bekaert Petrovice S.R.O., Czech Republic ·
Belgo Bekaert Arames Ltda, Brazil |
|
|
|
|
Investing
Company : |
·
Mukand Limited, India |
|
|
|
|
Fellow
Subsidiaries and Associates : |
·
N V Bekaert SA., Belgium ·
Bekaert (China) Technology and Research and
Development Company Limited ·
Bekaert Corporation, USA ·
Bekaert Gmbh, Germany ·
Bekaert A/S, Denmark ·
Bekaert Coördinatiecentrum N.V., Belgium ·
Bekaert Svenska AB, Sweden ·
Bekaert (Schweiz) AG, Switzerland ·
Bekaert Investments NV, Belgium ·
Bekaert International Americas ·
Bekaert Singapore Pte Limited |
CAPITAL STRUCTURE
After 30.09.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
225000000 |
Equity Shares |
Rs.10/- each |
Rs. 2250.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
190000000 |
Equity Shares |
Rs.10/- each |
Rs. 1900.000 Millions |
|
|
|
|
|
As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
95000000 |
Equity Shares |
Rs.10/- each |
Rs. 950.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
95000000 |
Equity Shares |
Rs.10/- each |
Rs. 950.000 Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
950.000 |
500.000 |
360.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
8.700 |
|
|
3] Reserves & Surplus |
0.000 |
0.000 |
0.000 |
|
|
4] (Accumulated Losses) |
(473.256) |
(145.393) |
(30.935) |
|
|
NETWORTH |
476.744 |
354.607 |
337.775 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
752.332 |
681.711 |
459.776 |
|
|
2] Unsecured Loans |
334.700 |
241.585 |
0.000 |
|
|
TOTAL BORROWING |
1087.032 |
923.296 |
459.776 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
1563.776 |
1277.903 |
797.541 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
1022.852 |
1052.897 |
12.125 |
|
|
Capital work-in-progress |
9.447 |
0.826 |
777.340 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
252.599
|
106.636
|
13.694 |
|
|
Sundry Debtors |
178.325
|
61.818
|
0.073 |
|
|
Cash & Bank Balances |
68.722
|
31.959
|
234.548 |
|
|
Other Current Assets |
0.000
|
0.000
|
0.000 |
|
|
Loans & Advances |
231.616
|
126.063
|
70.909 |
|
Total
Current Assets |
731.262
|
326.476
|
319.224 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
175.499
|
91.847
|
303.380 |
|
|
Other Current Liabilities |
21.715
|
8.803
|
6.408 |
|
|
Provisions |
2.571
|
1.646
|
1.360 |
|
Total
Current Liabilities |
199.785
|
102.296
|
311.148 |
|
|
Net Current Assets |
531.477
|
224.180
|
8.076 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
1563.776 |
1277.903 |
797.541 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
NA |
100.798 |
-- |
|
|
|
Other Income |
NA |
2.086 |
-- |
|
|
|
TOTAL (A) |
NA |
102.884 |
-- |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Raw Material Finished Goods and Semi Finished Goods |
NA |
86.496 |
4.844 |
|
|
|
Employee Costs |
NA |
13.230 |
0.556 |
|
|
|
Operating and Other Expenses |
NA |
73.800 |
24.543 |
|
|
|
TOTAL (B) |
NA |
173.526 |
29.943 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
NA |
(70.642) |
(29.943) |
|
|
|
|
|
|
|
|
|
Less |
INTEREST (D) |
NA |
22.914 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
NA |
(93.956) |
(29.943) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
NA |
20.347 |
0.494 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ LOSS
BEFORE TAX (E-F) (G) |
(327.862) |
(113.903) |
(30.437) |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
0.000 |
0.555 |
0.498 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
LOSS AFTER TAX (G-H) (I) |
(327.862) |
(114.458) |
(30.935) |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
(145.393) |
(30.935) |
-- |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
(473.255) |
(145.393) |
(30.935) |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
500.368 |
70.127 |
NA |
|
|
NA |
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
NA |
-- |
12.418 |
|
|
|
Capital Goods |
NA |
62.631 |
235.049 |
|
|
|
Stores, Spares Loose Tools and Packing material |
NA |
19.243 |
10.381 |
|
|
TOTAL IMPORTS |
NA |
81.874 |
257.848 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
(3.45) |
(2.29) |
(0.62) |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
NA
|
(111.25)
|
NA |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
NA
|
(113.00)
|
NA |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(18.69)
|
(8.26)
|
(9.19) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.69)
|
(0.32)
|
(0.09) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
2.70
|
2.89
|
2.28 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
3.66
|
3.19
|
1.03 |
LOCAL AGENCY FURTHER INFORMATION
SUNDRY CREDITORS
DETAILS:
|
Particulars |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
(Rs. In Millions) |
||
|
|
|
|
|
|
Creditors due small micro enterprises |
175.499
|
91.847
|
303.380 |
|
Creditors due others |
0.000
|
0.000
|
0.000 |
|
|
|
|
|
|
Total |
175.499
|
91.847
|
303.380 |
|
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 |
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 |
CHANGE IN NAME OF THE COMPANY
The name of the
Company has been changed to Bekaert Mukand Wire Industries Private Limited on
May 19, 2011 subsequent to Bekaert Holdings B.V., Netherlands becoming the
holding company w.e.f. March 31, 2011.
BUSINESS SCENARIO
The Company is new
entrant to stainless steel wire market, being first full year of operations. In
order to penetrate the market share in existing competitive stainless steel
wire business, the Company has sold 3986 tons of stainless steel wire, hereby
utilizing 67% capacity.
UNSECURED LOAN
|
Unsecured Loan |
31.03.2011 (Rs.
in Millions) |
31.03.2010 (Rs.
in Millions) |
|
Loans directors unsecured |
334.700 |
241.585 |
|
Total |
334.700 |
241.585 |
FIXED ASSETS:
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 records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent government
authority for any violation of anti-corruption laws or international anti-money
laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.54 |
|
|
1 |
Rs.88.05 |
|
Euro |
1 |
Rs.72.29 |
INFORMATION DETAILS
|
Information
Gathered by : |
JML |
|
|
|
|
Report Prepared
by : |
MRI |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
- |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
- |
|
--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 |
|
TOTAL |
|
26 |
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this report.
The assessed factors and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with full
security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
NB |
NEW BUSINESS |
||
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or
its officials.