MIRA
INFORM REPORT
|
Report Date : |
18.07.2013 |
IDENTIFICATION DETAILS
|
Name : |
EAGLE HOME APPLIANCES PRIVATE LIMITED |
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Registered
Office : |
4th Floor, Parmar Gallery, S. No. 77, |
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Country : |
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Financials (as
on) : |
31.03.2012 |
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Date of
Incorporation : |
11.01.1965 |
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Com. Reg. No.: |
11-139986 |
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Capital
Investment / Paid-up Capital : |
Rs. 0.500 Million |
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CIN No.: [Company Identification
No.] |
U26100PN1965PTC139986 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Trader and Exporter of Home Appliances. |
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No. of Employees
: |
200 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (36) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 8410000 |
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|
Status : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is an subsidiary of ‘Equitable Finance Limited’. It is an established
company having a moderate track record. The external borrowings of the company appear to be huge causing
threat to the company’s liquidity. However, trade relations are reported as fair. Business is active.
Payment terms are 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 – March 31st, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
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. Purandare |
|
Designation : |
G M Finance |
|
Contact No.: |
91-20-66055982 |
|
Date : |
15.07.2013 |
LOCATIONS
|
Registered Office : |
4th Floor, parmar Gallery, S. No. 77, Shivarkar Road,
Wanawadi, Pune – 411040, Maharashtra, India |
|
Tel. No.: |
91-20-66028561 |
|
Fax No.: |
91-20-66028563 |
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E-Mail : |
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Location : |
Owned |
DIRECTORS
As on : 31.12.2012
|
Name : |
Mr. Naushad Ismail Padamsee |
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Designation : |
Director |
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Address : |
Padamsee Apartment, 22/29, |
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Date of Birth/Age : |
31.03.1949 |
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Date of Appointment : |
01.05.1976 |
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DIN No.: |
01631916 |
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Other Directorship:
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Name : |
Mr. Riaz Alimohamad Padamsee |
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Designation : |
Director |
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Address : |
Bunglow No. A/19, Padma Vilas Enclave, Wanawadi, Pune – 411048, |
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Date of Birth/Age : |
31.12.1949 |
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Date of Appointment : |
08.08.1997 |
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DIN No.: |
01632000 |
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Other Directorship:
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Name : |
Mr. Daulat Ismail Padamsee |
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Designation : |
Director |
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Address : |
Padamsee Apartment, 22/29, |
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Date of Birth/Age : |
04.11.1929 |
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Date of Appointment : |
01.05.1976 |
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DIN No.: |
01640383 |
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Other Directorship:
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|
Name : |
Mr. Shamim Mumtaz Padamsee |
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Designation : |
Director |
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Address : |
Padamsee Apartment, 22/29, |
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Date of Birth/Age : |
07.06.1947 |
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Date of Appointment : |
17.06.1993 |
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DIN No.: |
01654291 |
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Other Directorship:
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MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on : 31.12.2012
|
Names of Shareholders |
No. of Shares |
|
Zohra Niaquat Padamsee |
190 |
|
Nadirshah Naushad Padamsee |
250 |
|
Ginan Riaz Padamsee |
340 |
|
Nusha Mumtaz Padamsee |
160 |
|
Niaquat Naushad Padamsee |
60 |
|
Equitable Finance Limited, |
4000 |
|
Total |
5000 |
Equity Share Break up (Percentage of Total Equity)
As on : 31.12.2012
|
Category |
Percentage |
|
Bodies corporate |
80.00 |
|
Directors or relatives of Directors |
20.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Trader and Exporter of Home Appliances. |
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Exports : |
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Products : |
Home Appliances |
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Countries : |
·
·
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Imports : |
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Products : |
Home Appliances |
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Countries : |
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Terms : |
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Selling : |
Cash and Credit |
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Purchasing : |
Cash and Credit |
GENERAL INFORMATION
|
Customers : |
Retailers |
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No. of Employees : |
200 (Approximately) |
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Bankers : |
Oriental Bank of Commerce, Wanawadi, Pune - 411040, |
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Facilities : |
(Rs in Millions)
Note : 1. Above loans are secured against hypothecation of vehicles purchased
under these loans Terms of repayment of term loans from Banks 2. Bills discounting facility from banks has been secured against
first charge on honour of acceptance and fixed deposit under lien Rs. 1.280
Millions |
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Auditors : |
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Name : |
Deloitte Haskins and Sons Chartered Accountants |
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Address : |
706 B Wing, 7th Floor, ICC Trade Tower, Senapati Bapat
Road, Pune - 411016, Maharashtra, India |
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Tel. No.: |
91-20-66244600 |
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Fax No.: |
91-20-66244605 |
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PAN No.: |
AAACT3316M |
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Group Companies : |
· Eagle Flask
Private Limited · Eagle Agro Farms
Private Limited · Salemchammed
Padmasee and Company · Padmasee and
Sons |
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|
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Holding Companies : |
Equitable Finance Limited, |
CAPITAL STRUCTURE
As on : 31.12.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
5000 |
Equity Shares |
Rs. 100/- each |
Rs. 0.500 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
5000 |
Equity Shares |
Rs. 100/- each |
Rs. 0.500 Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2012 |
31.03.2011 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
0.500 |
0.500 |
|
(b) Reserves & Surplus |
|
20.525 |
2.951 |
|
(c) Money
received against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
|
0.000 |
0.000 |
|
Total Shareholders’
Funds (1) + (2) |
|
21.025 |
3.451 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
47.284 |
58.933 |
|
(b) Deferred tax liabilities (Net) |
|
0.000 |
0.000 |
|
(c) Other long term liabilities |
|
5.577 |
4.720 |
|
(d) long-term provisions |
|
9.360 |
2.936 |
|
Total Non-current Liabilities (3) |
|
62.221 |
66.589 |
|
|
|
|
|
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(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
|
35.015 |
22.298 |
|
(b)
Trade payables |
|
148.069 |
123.490 |
|
(c)
Other current liabilities |
|
7.077 |
11.373 |
|
(d) Short-term
provisions |
|
2.883 |
7.909 |
|
Total Current Liabilities (4) |
|
193.044 |
165.070 |
|
|
|
|
|
|
TOTAL |
|
276.290 |
235.110 |
|
|
|
|
|
|
II. ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
|
11.555 |
8.487 |
|
(ii)
Intangible Assets |
|
0.332 |
2.169 |
|
(iii)
Capital work-in-progress |
|
0.000 |
0.000 |
|
(iv)
Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
48.708 |
48.708 |
|
(c) Deferred tax assets (net) |
|
2.127 |
0.000 |
|
(d) Long-term Loan and Advances |
|
52.911 |
58.700 |
|
(e) Other
Non-current assets |
|
28.255 |
29.540 |
|
Total Non-Current Assets |
|
143.888 |
147.604 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
|
0.000 |
0.000 |
|
(b) Inventories |
|
41.790 |
35.843 |
|
(c)
Trade receivables |
|
72.917 |
45.704 |
|
(d) Cash
and cash equivalents |
|
10.317 |
4.097 |
|
(e)
Short-term loans and advances |
|
7.378 |
1.862 |
|
(f)
Other current assets |
|
0.000 |
0.000 |
|
Total Current Assets |
|
132.402 |
87.506 |
|
|
|
|
|
|
TOTAL |
|
276.290 |
235.110 |
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
0.500 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
0.000 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
0.500 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
0.281 |
|
|
2] Unsecured Loans |
|
|
77.263 |
|
|
TOTAL BORROWING |
|
|
77.544 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
78.044 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
5.537 |
|
|
Capital work-in-progress |
|
|
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
48.708 |
|
|
DEFERRED TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
20.659 |
|
|
Sundry Debtors |
|
|
23.453 |
|
|
Cash & Bank Balances |
|
|
4.212 |
|
|
Other Current Assets |
|
|
0.000 |
|
|
Loans & Advances |
|
|
83.001 |
|
Total
Current Assets |
|
|
131.325 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
|
|
|
Other Current Liabilities |
|
|
|
|
|
Provisions |
|
|
38.380 |
|
Total
Current Liabilities |
|
|
127.289 |
|
|
Net Current Assets |
|
|
4.036 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
PROFIT AND LOSS ACCOUNT |
|
|
19.763 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
78.044 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
|
|
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL |
599.525 |
516.863 |
412.670 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
|
|
|
|
|
|
Purchase of Stock in Trade |
|
|
|
|
|
|
Changes in Inventories of Finished Goods |
|
|
|
|
|
|
Employees Benefits Expenses |
|
|
|
|
|
|
Other expenses |
|
|
|
|
|
|
TOTAL |
591.472 |
486.622 |
389.801 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
8.053 |
30.241 |
|
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
5.701 |
2.404 |
|
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
2.352 |
27.837 |
22.870 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
(15.222) |
5.121 |
6.237 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX |
17.574 |
22.716 |
16.633 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
FOB Value of Exports |
0.126 |
1.745 |
0.000 |
|
|
TOTAL EARNINGS |
0.126 |
1.745 |
0.000 |
|
|
|
|
|
|
|
|
|
|
IMPORT VALUE |
128.437 |
103.756 |
72.098 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
3514.80 |
NA |
NA |
|
|
Particulars |
|
|
31.03.2013 |
|
Sales Turnover (Approximately) |
|
|
750.000 |
The above information has been parted by Mr. Purandare (G M Finance)
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
2.93
|
4.39 |
4.03 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.04
|
14.93 |
16.71 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.11
|
8.07 |
45.74 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
3.91
|
81.23 |
155.09 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.69
|
0.53 |
1.03 |
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 |
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 |
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 |
No |
NOTE :
The registered office of the company has been shifted from 12 Ground
Floor, New India Industrial Estate,
UNSECURED LOANS :
(Rs in Millions)
|
PARTICULARS |
31.03.2012
|
31.03.2011
|
|
Loans and
Advance from other than related parties |
|
|
|
Loans from Wascon Industries |
1.000 |
1.000 |
|
Cash Credit and working capital demand loan |
14.674 |
7.842 |
|
Loans and advances from others |
1.625 |
0.000 |
|
Loans and
Advance from related parties |
|
|
|
Equitable Finance Private Limited |
45.650 |
56.408 |
|
Total |
62.949 |
65.250 |
Note :
- Term loan from ICICI Bank are repayable in 48 equated monthly installments
ending on 16th August 2014.
- Term loans from HDFC Bank are repayable in 48 equated monthly
installments ending on 7th October 2013 on 7th June,
2014 respectively.
BANKERS CHARGES
REPORT AS PER REGISTRY :
|
Corporate identity
number of the company |
U26100PN1965PTC139986 |
|
Name of the
company |
EAGLE HOME
APPLIANCES PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
4th Floor, Parmar
Gallery, S.No.77, Email : cs.eagle@ymail.com |
|
This form is for |
Modification of
charge |
|
Charge identification
(ID) number of the charge to be modified |
10277965 |
|
Type of charge |
|
|
Particular of
charge holder |
Oriental Bank of Commerce, Wanawadi, Pune - 411040, Email : bm0891@obc.co.in CIN : U65191DL1901PLC002036 |
|
Nature of
instrument creating charge |
Agreement of
hypothecation of assets Sanction letter |
|
Date of
instrument Creating the charge |
26.06.2012 |
|
Rs. 57.500 Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest : BR plus 3.50%
(present BR of the bank is 10.50%) which works penal interest out to 14.00%
p.a. Terms of Repayment : NA Margin : 25% for Fresh
Cash credit of Rs. 5.000 Millions only. 25.00% for Documentary Usance Bills
Purchase / Discount Limit (Renewal with enhancement from Rs. 15.000 Millions)
of Rs. 32.500 Millions only. 30.00% for Fresh Letter of Credit of Rs. 20.000
Millions only. Extent and Operation of the charge : (1) Fresh Cash
credit of Rs. 5.000 Millions only, (2) Documentary Usance Bills Purchase /
Discount Limit (Renewal with enhancement from Rs. 15.000 Millions) of Rs.
32.500 Millions only and (3) Fresh Letter of Credit of Rs. 20.000 Millions
only. |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
|
|
Particulars of
the present modification |
Loan Amount
enhanced from Rs.150.000 to Rs 57.500 (1) Fresh Cash credit of Rs. 50.00
Millions only, (2) Documentary Usance Bills Purchase/Discount Limit (Renewal
with enhancement from Rs. 15.000 Millions) of Rs. 32.500 Millions only and
(3) Fresh Letter of Credit of Rs. 20.000 Millions only. |
FIXED ASSETS :
·
Plant and Equipment
·
Office Equipments
·
Furniture and Fixtures
·
Vehicles
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. 59.36 |
|
|
1 |
Rs. 89.69 |
|
Euro |
1 |
Rs. 77.99 |
INFORMATION DETAILS
|
Information
Gathered by : |
PDT |
|
|
|
|
Report Prepared
by : |
|
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
4 |
|
--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 |
|
36 |
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.