|
Report Date : |
25.07.2013 |
IDENTIFICATION DETAILS
|
Name : |
EVER SHINE APPLIANCES PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Plot No. 41, GIDC, Ichhapore, Opposite ONGC, Sachin Hajira Road,
Bhatpore, Surat-394510, Gujarat |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
07.07.2004 |
|
|
|
|
Com. Reg. No.: |
04-044421 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.10.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U27108GJ2004PTC044421 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer and Trader of Kitchen Accessories and Architecture
Hardware. |
|
|
|
|
No. of Employees
: |
More than 100 [Approximately] |
RATING & COMMENTS
|
MIRA’s Rating : |
B (29) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 93000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having moderate track record. There
appears significant increase in the sales turnover as well as the net
profitability during 2012. External borrowings appear to be huge and increasing
over previous year. However, trade relations are 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) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very
High |
C1 |
|
Restricted |
C2 |
|
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. Bejubhai |
|
Designation : |
Finance Manager |
|
Contact No.: |
91-261-2914156 |
|
Date : |
24.07.2013 |
LOCATIONS
|
Registered Office / Factory / Warehouse : |
Plot No. 41, GIDC, Ichhapore, Opposite ONGC, Sachin Hajira Road,
Bhatpore, Surat-394510, Gujarat, India |
|
Tel. No.: |
91-261-2914156/234 |
|
Fax No.: |
91-261-2840008 |
|
E-Mail : |
|
|
Location : |
Owned |
|
|
|
|
Branch Office : |
Located at Vasai, Thane, Maharashtra, India |
DIRECTORS
AS ON 29.09.2012
|
Name : |
Mr. Amitkumar Arvind Nimbark |
|
Designation : |
Director |
|
Address : |
37, Sarjan Society, Panle Point, Surat-395007, Gujarat, India |
|
Date of Birth/Age : |
12.08.1965 |
|
Date of Appointment : |
07.07.2004 |
|
Din No.: |
00045628 |
|
|
|
|
Name : |
Mr. Bankim Vorji Patel |
|
Designation : |
Director |
|
Address : |
804, Mahim Heights-2, Chandan Chawk, Piplod Road, Rndh Piplod,
Surat-395007, Gujarat, India |
|
Date of Birth/Age : |
07.08.1969 |
|
Date of Appointment : |
07.07.2004 |
|
Din No.: |
00045638 |
|
|
|
|
Name : |
Mrs. Nina Bankim Patel |
|
Designation : |
Director |
|
Address : |
804, Mahim Heights-2, Chandan Chawk, Piplod Road, Rndh Piplod,
Surat-395007, Gujarat, India |
|
Date of Birth/Age : |
21.06.1975 |
|
Date of Appointment : |
01.05.2009 |
|
Din No.: |
02663987 |
|
|
|
|
Name : |
Mr. Samir Natwar Patel |
|
Designation : |
Director |
|
Address : |
C-803, Silver Crest, L P Savani Road, Near Green Arcade, Pal, Surat-394510,
Gujarat, India |
|
Date of Birth/Age : |
17.09.1965 |
|
Date of Appointment : |
01.10.2010 |
|
Din No.: |
00045636 |
|
|
|
|
Name : |
Mr. Raghu Girdhar Padmini |
|
Designation : |
A-304, Abhishek Apartment, Vaishali Cinema, Umiyadham Road, Varacha,
Surat-395006, Gujarat, India |
|
Address : |
04.06.1961 |
|
Date of Birth/Age : |
01.10.2010 |
|
Date of Appointment : |
03443053 |
|
Din No.: |
03443053 |
|
|
|
|
Name : |
Mr. Sanjaykumar Kantilal Manwar |
|
Designation : |
Director |
|
Address : |
D-402, Rajhans View Building, Opposite Annapurna Temple, Adajan Hazira
Road, Surat-394510, Gujarat, India |
|
Date of Birth/Age : |
14.04.1977 |
|
Date of Appointment : |
01.10.2010 |
|
Din No.: |
03430529 |
|
|
|
|
Name : |
Mr. Ashwinkumar Natwar Kholia |
|
Designation : |
Director |
|
Address : |
My Nest 6 and 7, Maruti Nandan Society, Anand Mahal Road, Opposite Prime
Arcade, Behind ICICI Bank, Adajan, Surat-395009, Gujarat, India |
|
Date of Birth/Age : |
13.04.1964 |
|
Date of Appointment : |
13.04.2012 |
|
Din No.: |
00045645 |
KEY EXECUTIVES
|
Name : |
Mr. Bejubhai |
|
Designation : |
Finance Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 29.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
Amitkumar Arvind Nimbark |
|
587450 |
|
Bankim Vorji Patel |
|
385500 |
|
Nina Bankim Patel |
|
201950 |
|
Raghu Girdhar Padmini |
|
96600 |
|
Sanjaykumar Kantilal Manwar |
|
32200 |
|
Samir Natwar Patel |
|
161000 |
|
Amit K. Manwr |
|
16100 |
|
Vipul B. Garala |
|
16100 |
|
Yatin B. Garala |
|
16100 |
|
Ashwinkumar Natwar Kholia |
|
153000 |
|
Mangllal Mlatry |
|
34000 |
|
|
|
|
|
TOTAL
|
|
1700000 |
AS ON 29.09.2012
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Directors
or relatives of directors |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Trader of Kitchen Accessories and Architecture
Hardware. |
|
|
|
|
Imports : |
|
|
Products : |
Accessories |
|
Countries : |
China |
|
|
|
|
Terms : |
|
|
Selling : |
Cash and Credit |
|
|
|
|
Purchasing : |
Cash and Credit |
GENERAL INFORMATION
|
Customers : |
Wholesalers and Retailers |
|||||||||||||||||||||
|
|
|
|||||||||||||||||||||
|
No. of Employees : |
More than 100 [Approximately] |
|||||||||||||||||||||
|
|
|
|||||||||||||||||||||
|
Bankers : |
·
Bank of Baroda, Mandarwaja Branch, Surat-395003,
Gujarat, India ·
Axis Bank Limited, Digvijay Towers, Opposite St.
Xavier’s School, God Dod Road, Surat-395002, Gujarat, India ·
Dena Bank, Nanpura, Surat-395001, Gujarat, India |
|||||||||||||||||||||
|
|
|
|||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
A.B. Patel and Company Chartered Accountants |
|
Address : |
205, City Centre, Near Sosyo Circle, Udhna-Magdalla Road,,
Surat-395002, Gujarat, India |
|
PAN No: |
AAVPP6516D |
CAPITAL STRUCTURE
AS ON 29.09.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
2000000 |
Equity Shares |
Rs.10/- each |
Rs.20.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
1700000 |
Equity Shares |
Rs.10/- each
|
Rs.17.000
Millions |
AS ON 31.03.2012
Authorised Capital : Not Available
Issued, Subscribed & Paid-up Capital : Rs.10.000
Millions
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 |
|
10.000 |
9.100 |
|
(b) Reserves & Surplus |
|
13.448 |
4.171 |
|
(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) |
|
23.448 |
13.271 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term
borrowings |
|
80.288 |
40.236 |
|
(b) Deferred tax liabilities (Net) |
|
0.000 |
0.000 |
|
(c) Other long
term liabilities |
|
0.000 |
0.000 |
|
(d) long-term
provisions |
|
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
|
80.288 |
40.236 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
|
15.671 |
17.258 |
|
(b)
Trade payables |
|
52.874 |
39.721 |
|
(c)
Other current liabilities |
|
1.161 |
0.382 |
|
(d) Short-term
provisions |
|
5.126 |
2.867 |
|
Total Current
Liabilities (4) |
|
74.832 |
60.228 |
|
|
|
|
|
|
TOTAL |
|
178.568 |
113.735 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
|
16.396 |
7.421 |
|
(ii)
Intangible Assets |
|
2.004 |
2.399 |
|
(iii)
Capital work-in-progress |
|
2.234 |
0.000 |
|
(iv) Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current
Investments |
|
0.000 |
0.000 |
|
(c) Deferred tax
assets (net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
0.061 |
0.033 |
|
(e) Other
Non-current assets |
|
0.000 |
0.000 |
|
Total Non-Current
Assets |
|
20.695 |
9.853 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
|
0.000 |
0.000 |
|
(b)
Inventories |
|
80.545 |
55.368 |
|
(c)
Trade receivables |
|
69.863 |
41.516 |
|
(d) Cash
and cash equivalents |
|
2.322 |
2.000 |
|
(e)
Short-term loans and advances |
|
3.765 |
3.691 |
|
(f)
Other current assets |
|
1.378 |
1.307 |
|
Total
Current Assets |
|
157.873 |
103.882 |
|
|
|
|
|
|
TOTAL |
|
178.568 |
113.735 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
9.100 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
0.935 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
10.035 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
7.304 |
|
|
2] Unsecured Loans |
|
|
24.378 |
|
|
TOTAL BORROWING |
|
|
31.682 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
41.717 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
4.853 |
|
|
Capital work-in-progress |
|
|
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.000 |
|
|
DEFERREX TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
23.239 |
|
|
Sundry Debtors |
|
|
31.185 |
|
|
Cash & Bank Balances |
|
|
2.311 |
|
|
Other Current Assets |
|
|
0.885 |
|
|
Loans & Advances |
|
|
1.786 |
|
Total
Current Assets |
|
|
59.406 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
22.109 |
|
|
Other Current Liabilities |
|
|
0.660 |
|
|
Provisions |
|
|
2.033 |
|
Total
Current Liabilities |
|
|
24.802 |
|
|
Net Current Assets |
|
|
34.604 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
2.260 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
41.717 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
|
|
|
|
|
|
|
REVENUE FROM
OPERATIONS [NET] |
211.854 |
114.062 |
75.094 |
|
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
29.983 |
19.074 |
6.794 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
11.369 |
12.970 |
4.431 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
18.614 |
6.104 |
2.363 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
4.947 |
1.695 |
0.790 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX |
13.667 |
4.409 |
1.573 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
4.391 |
(0.697) |
0.373 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX |
9.276 |
5.106 |
1.200 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
NA |
5.61 |
1.32 |
|
|
Particulars |
|
|
31.03.2013 |
|
Sales Turnover [Approximately] |
|
|
330.000 |
Expected Sales (2013-14) : Rs.450.000 Millions.
The above information has been parted by Mr. Bejubhai.
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
Return on Total Assets (PBT/Total Assets} |
(%) |
7.75
|
3.87 |
5.60 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.58
|
0.33 |
0.15 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
4.09
|
4.33 |
3.15 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.11
|
1.72 |
2.40 |
LOCAL AGENCY FURTHER INFORMATION
Details of Current Maturities of Long Term Debt:
Not Available
|
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 |
Yes |
|
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) |
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] |
PAN of Proprietor/Partner/Director, if available |
No |
|
32] |
Date
of Birth of Proprietor/Partner/Director, if available |
Yes |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
No |
INDEX OF CHARGES:
|
S. No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10395787 |
07/12/2012 |
80,000,000.00 |
AXIS BANK
LIMITED |
DIGVIJAY TOWERS,
OPPOSITE ST. XAVIER'S SCHOOL, GHOD DOD ROAD, SURAT-395002, GUJARAT, INDIA |
B65439671 |
FIXED ASSETS:
·
Computer and Software
·
Mining Rights
·
Land
·
Building
·
Furniture and Fixtures
·
Office Equipments
·
Computer Systems
·
Vehicles
·
Plant and Machinery
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.59.45 |
|
|
1 |
Rs.91.24 |
|
Euro |
1 |
Rs.78.44 |
INFORMATION DETAILS
|
Information Gathered
by : |
JML |
|
|
|
|
Report Prepared
by : |
TPT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
2 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
29 |
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 |
- |