MIRA
INFORM REPORT
|
Report Date : |
26.07.2013 |
IDENTIFICATION DETAILS
|
Name : |
FRANCOIS COMPRESSORS INDIA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Gat No.147/1 (New), Village Pirangut, Lavale Road, Taluka Mulshi, Pirangut-412115,
Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
21.12.2006 |
|
|
|
|
Com. Reg. No.: |
11-129346 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 5.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U29120PN2006FTC129346 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Compressors and related accessories |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca (14) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having a moderate track record. The net worth of the company is fully eroded. There also appear huge
external borrowings recorded by the company. However, business is active. Payment terms are slow. The company can be considered for business dealings on a safe and
secured 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.
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.
LOCATIONS
|
Registered Office / Factory : |
Gat No.147/1 (New), Village Pirangut, Lavale Road, Taluka Mulshi,
Pirangut-412115, Maharashtra, India |
|
Tel. No.: |
91-20-67916000 |
|
Fax No.: |
91-20-67916001 |
|
E-Mail : |
DIRECTORS
AS ON 12.09.2012
|
Name : |
Mr. Christian Raymond Boon Falleur |
|
Designation : |
Managing Director |
|
Address : |
1640 Avenue Astrid 83, Rhode Saint Genese, Belgium- B1640 |
|
Date of Birth/Age : |
08.03.1947 |
|
Date of Appointment : |
21.12.2006 |
|
DIN No.: |
02068673 |
Other
Directorship:
|
S.
No. |
CIN/LLPIN |
Name
of the Company/ LLP |
Current
designation of the Director/ Designated Partner |
Date
of appointment at current designation |
Original
date of appointment |
Company/
LLP Status |
Defaulting
status |
|
1 |
U29120PN2006FTC129346
|
FRANCOIS
COMPRESSORS INDIA PRIVATE LIMITED |
Managing
director |
08/01/2009 |
21/12/2006 |
Active |
NO |
|
Name : |
Ms. Radha Mohan Chandra Mohan Sukhia |
|
Designation : |
Director |
|
Address : |
Kalvovagen 17, Saltsjo Boo, Sweden- 13234 |
|
Date of Birth/Age : |
29.04.1939 |
|
Date of Appointment : |
21.12.2006 |
|
DIN No.: |
01941372 |
|
|
|
|
Name : |
Mr. Didier Edouard Rolin Jacquemyns |
|
Designation : |
Director |
|
Address : |
Bremlaan, 20, Overijse, Belgium- B3090 |
|
Date of Birth/Age : |
23.08.1948 |
|
Date of Appointment : |
21.12.2006 |
|
DIN No.: |
02157046 |
|
|
|
|
Name : |
Mr. Sahab Saran |
|
Designation : |
Whole Time Director |
|
Address : |
A-2, 101, Silver Oak, Floriana Estate, Kalyaninagar, Pune-411014,
Maharashtra, India |
|
Date of Birth/Age : |
09.01.1946 |
|
Date of Appointment : |
08.01.2009 |
|
DIN No.: |
02490719 |
Other Directorship:
|
S.
No. |
CIN/LLPIN |
Name
of the Company/ LLP |
Current
designation of the Director/ Designated Partner |
Date
of appointment at current designation |
Original
date of appointment |
Company/
LLP Status |
Defaulting
status |
|
1 |
U29120PN2006FTC129346
|
FRANCOIS
COMPRESSORS INDIA PRIVATE LIMITED |
Whole-time
director |
30/09/2009 |
08/01/2009 |
Active |
NO |
KEY EXECUTIVES
|
Name : |
Mr. Sandeep Kulkarni and Associates |
|
Designation : |
Company Secretary |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 12.09.2012
|
Names of Shareholders |
No. of Shares |
|
Moteurs Et Francois Sa, Belgium |
999 |
|
M. Didier Rolin Jacquemyns
(Nominée: Moteurs et Francois SA), Belgium |
1 |
|
TOTAL
|
1000 |
AS ON 12.09.2012
|
Equity Shares
Break Up |
Percentage of
Holding |
|
Foreign holdings( Foreign institutional investor(s), Foreign companie(s)
Foreign financial institution(s), Non-resident Indian(s) or Overseas
Corporate bodies or Others |
100.00 |
|
TOTAL |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Compressors and related accessories |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
|
|
|
|
Bankers : |
·
ING Vysya Bank ·
Dena Bank |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
P.G. Joshi and Company Chartered Accountant |
|
Address : |
6, Janhavi Apartments, 40/22, Bhonde Colony, Pune- 411004,
Maharashtra, India |
|
PAN No.: |
AABFP2335E |
|
|
|
|
Holding Company : |
·
Moteurs Et Francois SA |
|
|
|
|
Associates : |
·
Ateliers Francois S A ·
Ateliers Francois (Shanghai) Company Limited ·
Ateliers Francois Compressors Middle East Dubai ·
Ateliers Francois Compressors Tan. Ve. Tic. As.
Turkey ·
Ateliers Francois Nord Afrique ·
Ateliers Francois Compressors Kunshan ·
Af Distribution Centre FEZ, Dubai |
CAPITAL STRUCTURE
AS ON 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3600 |
Equity Shares |
Rs.5000/- each |
Rs. 18.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1000 |
Equity Shares |
Rs.5000/-
each |
Rs. 5.000
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 |
|
5.000 |
5.000 |
|
(b) Reserves & Surplus |
|
(30.169) |
6.860 |
|
(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) |
|
(25.169) |
11.860 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
185.848 |
134.562 |
|
(b) Deferred tax liabilities (Net) |
|
0.413 |
0.315 |
|
(c) Other long term liabilities |
|
0.000 |
0.000 |
|
(d) long-term provisions |
|
0.539 |
0.257 |
|
Total Non-current Liabilities (3) |
|
186.800 |
135.134 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
|
0.000 |
0.000 |
|
(b) Trade payables |
|
146.758 |
62.085 |
|
(c) Other current
liabilities |
|
14.151 |
8.677 |
|
(d) Short-term provisions |
|
9.198 |
6.877 |
|
Total Current Liabilities (4) |
|
170.107 |
77.639 |
|
|
|
|
|
|
TOTAL |
|
331.738 |
224.633 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
132.431 |
129.488 |
|
(ii) Intangible Assets |
|
2.292 |
0.383 |
|
(iii) Capital
work-in-progress |
|
6.579 |
0.180 |
|
(b) Non-current Investments |
|
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
3.263 |
2.393 |
|
(e) Other Non-current assets |
|
0.003 |
0.004 |
|
Total Non-Current Assets |
|
144.568 |
132.448 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
0.000 |
0.000 |
|
(b) Inventories |
|
72.667 |
35.579 |
|
(c) Trade receivables |
|
38.993 |
32.009 |
|
(d) Cash and cash
equivalents |
|
34.171 |
6.689 |
|
(e) Short-term loans and
advances |
|
24.550 |
8.282 |
|
(f) Other current assets |
|
16.789 |
9.626 |
|
Total Current Assets |
|
187.170 |
92.185 |
|
|
|
|
|
|
TOTAL |
|
331.738 |
224.633 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
5.000 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
2.488 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
7.488 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
0.000 |
|
|
2] Unsecured Loans |
|
|
18.186 |
|
|
TOTAL BORROWING |
|
|
18.186 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.030 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
25.704 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
12.627 |
|
|
Capital work-in-progress |
|
|
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.300 |
|
|
DEFERREX TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
25.625 |
|
|
Sundry Debtors |
|
|
6.841 |
|
|
Cash & Bank Balances |
|
|
7.182 |
|
|
Other Current Assets |
|
|
8.481 |
|
|
Loans & Advances |
|
|
0.713 |
|
Total
Current Assets |
|
|
48.842 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
30.186 |
|
|
Other Current Liabilities |
|
|
3.767 |
|
|
Provisions |
|
|
2.116 |
|
Total
Current Liabilities |
|
|
36.069 |
|
|
Net Current Assets |
|
|
12.773 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.004 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
25.704 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue From Operation |
175.855 |
132.345 |
20.217 |
|
|
|
Other Income |
1.722 |
6.756 |
39.176 |
|
|
|
TOTAL (A) |
177.577 |
139.101 |
59.393 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Purchase of Stock in Trade |
140.924 |
87.543 |
|
|
|
|
Employee Benefit Expenses |
25.141 |
14.618 |
|
|
|
|
Other Expenses |
69.750 |
35.752 |
|
|
|
|
Preliminary / Preoperative / Misc Expenses written off |
0.001 |
0.001 |
|
|
|
|
Changes in Inventories of Finished Goods, Work in Progress and Stock
in Trade |
(37.088) |
(9.954) |
|
|
|
|
TOTAL (B) |
198.728 |
127.960 |
53.946 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
(21.151) |
11.141 |
5.447 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
7.965 |
1.306 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
(29.116) |
9.835 |
5.447 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
7.827 |
3.367 |
2.124 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
(36.943) |
6.468 |
3.323 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
0.086 |
2.095 |
1.082 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
(37.029) |
4.373 |
2.241 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
NA |
NA |
0.247 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
NA |
NA |
2.488 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
84.781 |
61.610 |
24.543 |
|
|
|
Technical Consultancy Fees |
24.705 |
22.597 |
2.509 |
|
|
|
Maintenance Charges |
0.000 |
0.000 |
2.768 |
|
|
|
Commission Earnings |
0.342 |
1.751 |
1.788 |
|
|
|
Sales Commission |
0.792 |
2.883 |
2.196 |
|
|
|
Warranty Charges |
1.258 |
0.263 |
0.000 |
|
|
TOTAL EARNINGS |
111.878 |
89.104 |
33.804 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Components and Spares |
65.318 |
26.279 |
11.048 |
|
|
|
Finished Goods |
0.000 |
0.000 |
4.941 |
|
|
TOTAL IMPORTS |
65.318 |
26.279 |
15.989 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
(37029.00) |
4372.35 |
-- |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
(20.85)
|
3.14 |
3.77 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
(21.01)
|
4.89 |
16.44 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(11.36)
|
2.88 |
5.41 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
1.47
|
0.55 |
0.44 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
(7.38)
|
11.35 |
2.43 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.10
|
1.19 |
1.35 |
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 |
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) |
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 |
FACILITIES
(Rs.
In Millions)
|
Unsecured Loan |
31.03.2012 |
31.03.2011 |
|
Long Term
Borrowings |
|
|
|
Foreign Currency Loan From Promoters |
185.848 |
134.562 |
|
|
|
|
|
TOTAL |
185.848 |
134.562 |
VIEW
INDEX OF CHARGES
No charges exits for company
NOTE
Registered office has been shifted from Flat No.201, 2nd
Floor, Green Terrace, 5th Lane, South Main Road, Koregaon Park,
Pune-411001, Maharashtra, India to the present address w.e.f. 12.09.2012
FIXED ASSETS
·
Land
·
Factory Building
·
Data Processing
Equipments
·
Vehicles
·
Die Blocks and Patterns
·
Furniture and Fixture
·
Office Equipments
·
Tools and Equipments
·
Plant and Machinery
·
Electrical Installations
·
Computer Software
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] 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. 58.94 |
|
|
1 |
Rs. 90.47 |
|
Euro |
1 |
Rs. 77.86 |
INFORMATION DETAILS
|
Report Prepared
by : |
DPT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
1 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
-- |
|
--LIQUIDITY |
1~10 |
1 |
|
--LEVERAGE |
1~10 |
1 |
|
--RESERVES |
1~10 |
-- |
|
--CREDIT LINES |
1~10 |
2 |
|
--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 |
|
14 |
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.