|
Report Date : |
17.01.2013 |
IDENTIFICATION DETAILS
|
Name : |
LAWRENCEDALE ESTATES AND FARMS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
9A, Higgins Road, Ooty – 643001, Tamilnadu |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
04.07.2008 |
|
|
|
|
Com. Reg. No.: |
18-014611 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.35.865
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U70101TZ2008PTC014611 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
CMBL03583G |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Trader, Distributor and Supplier of Fresh Exotic Temperate Vegetables.
|
|
|
|
|
No. of Employees
: |
17 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (34) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
|
Maximum Credit Limit : |
USD 190000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
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|
|
|
Comments : |
Subject is an established company having a moderate track record. The
company has recorded some growth in its sales turnover during 2012. However,
profitability appears to be low. Trade relations are reported as fair. Business is active. Payment
terms are reported as slow but correct.
The company can be considered for business dealings 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.
ECGC Country Risk Classification List – June 30, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
|
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 |
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. P. Vijayaraghawan |
|
Designation : |
Chief Executive Director |
|
Contact No.: |
91-9443020020 |
|
Date : |
14.01.2013 |
LOCATIONS
|
Registered Office/ Factory : |
9A, Higgins Road, Ooty – 643001, Tamilnadu, India |
|
Tel. No.: |
91-423-2448133 |
|
Mobile No.: |
91-9443020020 (Mr. P. Vijayaraghawan) |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
2000 sq. ft. |
|
Location : |
Owned |
DIRECTORS
(AS ON 29.09.2012)
|
Name : |
Mr. Palat Vijaya Raghavan |
|
Designation : |
Director |
|
Address : |
Lakshmi Pavithra, Satyya Sai Nagar, Ooty – 643001, Tamilnadu, India |
|
Date of Birth/Age : |
10.02.1966 |
|
Date of Appointment : |
04.07.2008 |
|
DIN No.: |
02185739 |
|
|
|
|
Name : |
Mr. Balakrishnan Ramasubramani |
|
Designation : |
Director |
|
Address : |
GRD VGP Layout, 1/186 (60 VGP Layout), Palavakkam, Chennai – 600041,
Tamilnadu, India |
|
Date of Birth/Age : |
08.01.1955 |
|
Date of Appointment : |
28.10.2009 |
|
DIN No.: |
00348331 |
|
|
|
|
Name : |
Mr. Ramaswamypillai Manoharan |
|
Designation : |
Director |
|
Address : |
69/125, Arsen Cottage, Bandi Sholaihavelock, Ooty – 643001, Tamilnadu,
India |
|
Date of Birth/Age : |
11.01.1953 |
|
Date of Appointment : |
04.07.2008 |
|
DIN No.: |
02188145 |
|
|
|
|
Name : |
Mr. Krishnadas Padmanabhan Nair |
|
Designation : |
Director |
|
Address : |
No.401, Ansals Krsna I, Adugodi, Hosur Road, Bangalore – 560030,
Karnataka, India |
|
Date of Birth/Age : |
17.06.1953 |
|
Date of Appointment : |
28.10.2009 |
|
DIN No.: |
02354131 |
KEY EXECUTIVES
|
Name : |
Mr. P. Vijayaraghawan |
|
Designation : |
Chief Executive Director |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
(AS ON 29.09.2012)
|
Names of Shareholders |
|
No. of Shares |
|
|
|
|
|
Palat Vijaya Raghavan |
|
12300000 |
|
Balakrishnan Ramasubramani |
|
2350000 |
|
Ramaswamypillai Manoharan |
|
4100000 |
|
Krishnadas Padmanabhan Nair |
|
4100000 |
(AS ON 22.11.2012)
|
Names of Allottess |
|
No. of Shares
Allotted |
|
|
|
|
|
Laxminarayanapuram Krishan Narayanan |
|
400000 |
|
Somasekhar Sundaresan |
|
200000 |
|
B G Subramanian |
|
100000 |
|
Acsys Software (India) Private Limited, India |
|
1000000 |
|
Kumanan C. Vetrivel |
|
400000 |
|
Hemamalini Thiagarajan |
|
50000 |
|
|
|
|
|
Total |
|
2150000 |
(AS ON 30.09.2012)
Equity Shares Break – up
|
Category |
|
Percentage |
|
|
|
|
|
Directors or relatives of directors |
|
100.00 |
|
|
|
|
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Trader, Distributor and Supplier of Fresh Exotic Temperate
Vegetables. |
|
|
|
|
Terms : |
|
|
Selling : |
L/C, Cash and Credit |
|
|
|
|
Purchasing : |
Cheque |
GENERAL INFORMATION
|
Customers : |
Wholesalers and Retailers |
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No. of Employees : |
17 (Approximately) |
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Bankers : |
· IDBI Bank Ooty Branch, Tamilnadu, India · Axis Bank Limited · HDFC Bank Limited · Syndicate Bank Limited |
||||||||||||||||||
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||||||||||||||||||
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Facilities : |
|
||||||||||||||||||
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|
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Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
RKRV and Associates Chartered Accountant |
|
Address : |
Door No:7, 5th Floor, Apex Chambers, No.20, Theyagaraya Road, Pondy
Bazaar, T. Nagar, Chennai - 600017, Tamilnadu, India |
|
PAN No.: |
AAGFR9251E |
CAPITAL STRUCTURE
(AS ON 29.09.2012)
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4000000 |
Equity Shares |
Rs.10/- each |
Rs.40.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3801500 |
Equity Shares |
Rs.10/- each |
Rs.38.015
Millions |
|
|
|
|
|
(AS ON 31.03.2012)
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4000000 |
Equity Shares |
Rs.10/- each |
Rs.40.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
35865000 |
Equity Shares |
Rs.10/- each |
Rs.35.865
Millions |
|
|
|
|
|
NOTE:
The
Company has only one class of share referred to as equity share having a par value of Rs.1/-.
Each share holder is entitled to one vote per share and the amount of dividend
declared if any by Board of Directors. In the event of liquidation of company,
the holders of equity shares will be entitled to receive remaining net assets
of the company, after distribution of all preferential amounts. The
distribution will be in proportion to the number of equity shares held by each
shareholder.
During the
year 2011-2012, the Company increased the Paid Up capital by Rs.1.200 Millions
(12,00,000 equity shares of Rs. 1/- each - Fully paid up).
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 |
35.865 |
34.665 |
24.425 |
|
|
2] Share Application Money |
0.000 |
0.000 |
2.500 |
|
|
3] Reserves & Surplus |
10.486 |
8.278 |
0.000 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
(1.728) |
|
|
NETWORTH |
46.351 |
42.943 |
25.197 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.323 |
0.000 |
0.222 |
|
|
2] Unsecured Loans |
3.809 |
0.000 |
3.600 |
|
|
TOTAL BORROWING |
4.132 |
0.000 |
3.822 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.063 |
0.019 |
|
|
Share Premium Account |
0.000 |
0.000 |
3.925 |
|
|
|
|
|
|
|
|
TOTAL |
50.483 |
43.006 |
32.963 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
59.060 |
45.497 |
30.121 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.054 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
0.670
|
0.652 |
0.000 |
|
|
Sundry Debtors |
2.776
|
1.136 |
0.000 |
|
|
Cash & Bank Balances |
0.824
|
0.487 |
1.531 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.364 |
|
|
Loans & Advances |
2.149
|
2.028 |
1.809 |
|
Total
Current Assets |
6.419
|
4.303 |
3.704 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditor |
0.663
|
0.162 |
0.862 |
|
|
Other Current Liabilities |
14.272
|
6.632 |
0.000 |
|
|
Provisions |
0.115
|
0.000 |
0.000 |
|
Total
Current Liabilities |
15.050
|
6.794 |
0.862 |
|
|
Net Current Assets |
(8.631)
|
(2.491) |
2.842 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
50.483 |
43.006 |
32.963 |
|
PROFIT & LOSS ACCOUNT
|
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from Operations |
|
46.710 |
15.971 |
|
|
|
Other Income |
|
0.044 |
0.066 |
|
|
|
TOTAL (A) |
|
46.754 |
16.037 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Seeds Consumed |
|
0.389 |
0.891 |
|
|
|
Purchases of Stock-in-trade |
|
31.224 |
14.873 |
|
|
|
Changed in inventories of finished goods, work-in-progress and
stock-in-trade |
|
(0.207) |
(0.100) |
|
|
|
Employee benefits expenses |
|
3.290 |
1.866 |
|
|
|
Other Expenses |
|
2.680 |
2.363 |
|
|
|
Farm Expenses |
|
2.282 |
2.247 |
|
|
|
Trading Expenses |
|
2.479 |
1.618 |
|
|
|
Processing Cost |
|
1.487 |
0.511 |
|
|
|
TOTAL (B) |
|
43.624 |
24.269 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
|
3.130 |
(8.232) |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
|
0.396 |
0.113 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
|
2.734 |
(8.345) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
|
2.442 |
0.891 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
|
0.292 |
(9.236) |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
|
(0.116) |
0.043 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
|
0.408 |
(9.279) |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
|
0.01 |
-- |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
0.87
|
57.86 |
NA |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
0.63
|
(57.83) |
NA |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.45
|
(18.55) |
NA |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.01
|
(0.22) |
NA |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.41
|
0.16 |
0.19 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.43
|
0.63 |
4.30 |
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 two years |
Yes |
|
12] |
Profitability for last two 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 |
Yes |
|
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 |
UNSECURED LOANS
|
Particulars |
31.03.2012 |
31.03.2011 |
|
|
(Rs. In Millions) |
|
|
|
|
|
|
Due to Directors/ Others |
3.809 |
0.000 |
|
|
|
|
|
Total |
3.809 |
0.000 |
PERFORMANCE
OF THE COMPANY
The performance of the company
picked up in the last two quarters as they got higher realizations and some
timely financial support to lower the purchase price. Working capital needs
will grow in line with tonnages. Today, they supply around five to six tonnes
of various vegetables (carrots form nearly two thirds or more) from Ooty and
Bangalore, to clients in Bangalore, Coimbatore, Chennai, Hyderabad and Kerala.
FINANCE:
They have got some bank
lines from IDBI Bank Limited; there is a need for capital infusion. They
estimate that over the next two to three years, they need to invest around
80.000 to 100.000 Millions to take the processing and distribution business to
a very high level. Given that agriculture and farming are FDI allergic due to
government regulations, they will consider various options. They may resort to
hiving off the business of processing, distribution and the cold chain
infrastructure business to a subsidiary, where they could invite strategic and
/or financial partners. At the shareholder meet, they propose to bring such a
proposal to the table.
FIXED ASSETS:
· Land
· Furniture and Fittings
· Vehicles
· Computer
· Plant and Machinery
· Shed
· Storage Unit
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.54.83 |
|
|
1 |
Rs.87.99 |
|
Euro |
1 |
Rs.72.83 |
INFORMATION DETAILS
|
Information
Gathered by : |
PLK |
|
|
|
|
Report Prepared
by : |
NIT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--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 |
|
34 |
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.