MIRA INFORM REPORT
|
Report Date : |
29.07.2013 |
IDENTIFICATION DETAILS
|
Name : |
HUMBOLDT WEDAG
INDIA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Mathura Road,
Mehtab House A-36, Mohan Co-operative Estate, New Delhi – 110044 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.12.2011 |
|
|
|
|
Date of
Incorporation : |
21.07.1976 |
|
|
|
|
Com. Reg. No.: |
11-216812 (New) 21-030634 (Old) |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.19.200
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U29253DL1976PTC216812
(New) U51909WB1976PTC030634
(Old) |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
CALH00484B |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACH7474G |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer and
Exporter of Cement Plant and Machinery, fast expanding and having good
business in Indian and International market. |
|
|
|
|
No. of Employees
: |
2500 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (49) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 4900000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Exist |
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|
|
|
Comments : |
Subject is a well established company and a part of German giant. KHD Humboldt Wedag International AG. The company has incurred
a loss from its operations during December 2011. However, the financial
position of the company is good. Trade relations
are fair. Business is active. Payment terms are reported as regular. In view of strong
group company, the company can be considered for business dealing at usual
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.
INFORMATION PARTED BY (GENERAL DETAILS)
|
Name : |
Mr. Dharmender Tutesa |
|
Designation : |
Secretary |
|
Contact No.: |
91-11-42101100 |
|
Date : |
24.07.2013 |
LOCATIONS
|
Registered Office : |
Mathura Road,
Mehtab House A-36, Mohan Co-op Estate, New Delhi – 110044, Delhi, India |
|
Tel. No.: |
91-11-42101100/200
|
|
Fax No.: |
91-11-42101104/105 |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
|
|
|
|
Factory : |
Plot No.110, Sector 24, Faridabad – 121005, Haryana, India |
|
|
|
|
Branch 1 : |
Suite 803, 8th
Floor, Dina House, Ruttonjee Centre, 11, Duddell Street, Central Hong Kong |
|
Tel. No.: |
852-25373613 |
|
Fax No.: |
852-25373689 |
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E-Mail : |
|
|
|
|
|
Branch 2 : |
36th
Floor, Tower 1, |
|
Tel. No.: |
86-21-25373277 |
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Fax No.: |
86-21-63173763 |
|
E-Mail : |
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|
|
|
|
Branch 3 : |
|
|
Tel. No.: |
43-1-240-25-300 |
|
Fax No.: |
43-1-240-25-310 |
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E-Mail : |
DIRECTORS
As on 08.08.2012
|
Name : |
Mr. Josef Martin
Friedrich Gierse |
|
Designation : |
Director |
|
Address : |
200, Jor Bagh, |
|
Date of Birth/Age : |
26.02.1956 |
|
Date of Appointment : |
31.03.2009 |
|
DIN No.: |
02606212 |
|
|
|
|
Name : |
Mr. George John Harrison |
|
Designation : |
Director |
|
Address : |
Volksgartenstr, 12, Cologne – 50677, Germany |
|
Date of Birth/Age : |
04.07.1963 |
|
Date of Appointment : |
30.08.2011 |
|
DIN No.: |
05127846 |
|
|
|
|
Name : |
Mr. Ravindra
Prakash |
|
Designation : |
Director |
|
Address : |
202A, Laburnum
Lok, Gurgaon – 122002, |
|
Date of Birth/Age : |
12.12.1944 |
|
Date of Appointment : |
12.01.2004 |
|
|
|
|
Name : |
Mr. Andrew Blythe
|
|
Designation : |
Director |
|
Address : |
Brick Kilnfarm |
|
Date of Birth/Age : |
24.09.1964 |
|
Date of Appointment : |
31.03.2009 |
KEY EXECUTIVES
|
Name : |
Mr. Dharmender Tutesa |
|
Designation : |
Secretary |
|
Address : |
183, Mandakini
Enclave, Alaknanda, New Delhi – 110019, Delhi, India |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 08.08.2012
|
Names of Shareholders |
|
No. of Shares |
|
KHD Humboldt
Wedag International GMBH, Germany |
|
1919904 |
|
MFC Industrial
Holdings AG, Germany |
|
96 |
|
Total |
|
1920000 |
As on 08.08.2012
Equity Share Break up (Percentage of Total Equity)
|
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 |
0.100 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and
Exporter of Cement Plant and Machinery, fast expanding and having good business
in Indian and International market. |
|
|
|
|
Products : |
|
|
|
|
|
Exports : |
|
|
Products : |
Cement Plant and Machinery,
fast expanding and having good business in Indian and International market |
|
Countries : |
|
|
|
|
|
Terms : |
|
|
Selling : |
L/C / Cash / Credit |
|
|
|
|
Purchasing : |
L/C / Cash / Credit |
GENERAL INFORMATION
|
Customers : |
End Users |
|
|
|
|
No. of Employees : |
2500 (Approximately) |
|
|
|
|
Bankers : |
·
Deutsche Bank AG, 9, Shakespeare Sarani,
Kolkata-700071, West Bengal, India ·
State Bank of India |
|
|
|
|
Banking
Relations : |
--- |
|
|
|
|
Auditors : |
|
|
Name : |
Mr. Deepak Ray Chartered
Accountants |
|
Address : |
7th
Floor, Building No.10Tower B, DLF Cyber city Complex, DLF Phase – II, Gurgaon
– 122002, Haryana, India |
|
PAN No.: |
AABFD2095B |
|
|
|
|
Ultimate Holding Company
: |
KHD Humboldt Wedag International AG, Cologne (from April 20, 2010) |
|
|
|
|
Holding Company : |
|
|
|
|
|
Fellow subsidiaries
and other companies which does not exercise control or significant influence
over the Company (having transaction during the year) |
|
CAPITAL STRUCTURE
After 31.03.2012
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 |
|
|
|
|
|
|
1920000 |
Equity Shares |
Rs.10/-each |
Rs.19.200 millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.12.2011 |
31.12.2010 |
31.12.2009 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
19.200 |
19.200 |
19.200 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
1218.038 |
1294.838 |
1069.718 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
1237.238 |
1314.038 |
1088.918 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
0.000 |
0.000 |
0.000 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
1237.238 |
1314.038 |
1088.918 |
|
|
|
|
|
|
|
|
APPLICATION OF
FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net
Block] |
70.600 |
66.889 |
76.048 |
|
|
Capital
work-in-progress |
12.987 |
3.214 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX
ASSETS |
101.993 |
49.002 |
18.003 |
|
|
|
|
|
|
|
|
CURRENT ASSETS,
LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
217.945
|
93.692
|
80.928
|
|
|
Sundry Debtors |
1459.539
|
1455.912
|
1336.159
|
|
|
Cash & Bank
Balances |
1332.556
|
1599.150
|
1186.673
|
|
|
Other Current
Assets |
289.754
|
474.792
|
50.572
|
|
|
Loans &
Advances |
515.802
|
387.649
|
461.171
|
|
Total Current Assets |
3815.596
|
4011.195
|
3115.503
|
|
|
Less : CURRENT LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
1038.949
|
1225.794
|
1393.931
|
|
|
Others Current Liabilities |
826.782
|
930.767
|
171.408
|
|
|
Provisions |
898.207
|
659.701
|
555.297
|
|
Total Current Liabilities |
2763.938
|
2816.262
|
2120.636
|
|
|
Net
Current Assets |
1051.658
|
1194.933
|
994.867
|
|
|
|
|
|
|
|
|
MISCELLANEOUS
EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
1237.238 |
1314.038 |
1088.918 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.12.2011 |
31.12.2010 |
31.12.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
3647.200 |
5112.220 |
4132.310 |
|
|
|
Other Income |
484.080 |
203.630 |
316.020 |
|
|
|
TOTAL |
4131.280 |
5315.850 |
4448.330 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Administrative Expenses |
4203.270 |
4938.890 |
4203.010 |
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
4203.270 |
4938.890 |
4203.010 |
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
(71.990) |
376.960 |
245.320 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
35.430 |
34.860 |
64.370 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX |
(107.420) |
342.100 |
180.950 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
(30.620) |
116.990 |
42.450 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX |
(76.800) |
225.110 |
138.500 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
FOB Value of Exports |
589.703 |
416.599 |
1573.814 |
|
|
TOTAL EARNINGS |
589.703 |
416.599 |
1573.814 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Purchase of Materials |
414.818 |
643.451 |
369.247 |
|
|
TOTAL IMPORTS |
414.818 |
643.451 |
369.247 |
|
|
|
|
|
|
|
|
|
|
Earnings /(Loss)
Per Share (Rs.) |
(40.00) |
117.25 |
72.13 |
|
KEY RATIOS
|
PARTICULARS |
|
31.12.2011 |
31.12.2010 |
31.12.2009 |
|
PAT / Total Income |
(%) |
(1.86)
|
4.23 |
3.11 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
(2.95)
|
6.69 |
4.38 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(1.98)
|
8.39 |
5.67 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.09)
|
0.26 |
0.17 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.00
|
0.00 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.38
|
1.42 |
1.47 |
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 |
Yes |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
No |
|
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 |
LITIGATIONS DETAILS
IN THE HIGH COURT OF
DELHI AT NEW DELHI
17.03.2003
Present: None for the plaintiff.
Mr.Ujjwal Banerjee for the defendant.
S.No.1274/2001
*
Inspite of opportunities granted, the plaintiff has failed to file
the replication. One more opportunity is granted to the plaintiff to file
replication within six weeks failing which the right to file the same shall be
dispensed with.
Let the matter be listed before JR on 20.5.2003 for scrutiny carrying admission/denial of documents.
March 17, 2003
J.D.KAPOOR
monica JUDGE
Note:
The registered office address of the company has
been shifted from Commerce
House, 8th Floor, Room No.8C, 2A, Ganesh Chandra Avenue, Kolkata -
700013, West Bengal, India to present w.e.f. 08.12.2010
BACKGROUND
Subject was incorporated on July 21, 1976 to carry on the business of industrial plant engineering and supply of equipments for cement plants. The company is closely held with 1,919,904 shares held by KHD Humboldt Wedag GmbH Cologne and the balance 96 shares are held by KHD Humboldt Wedag International AG.
PERFORMANCE REVIEW
After a strong performance in 2010 profiting from good order intake in the prior years, there was a significantly lower order intake in 2011 as customers postponed the award of new projects. Rising inflation and high interest rates had a negative impact on investment activity throughout the Indian economy. The lower order intake together with customers slowing down and partly postponing project execution resulted in lower sales in the financial year 2011.
Decreasing sales and decreasing gross profit margins due to fierce competition in a contracted market had an adverse impact on the Company’s profitability. However the loss after taxes resulted to a large extent from a one-time effect not related to the operating business as the Company followed the principle of prudence and set up provisions amounting to Rs. 104.000 Millions for this specific case.
The Company is putting a great focus on Account Management in order to proactively serve its customers. In addition, the Company has further increased its service and spare parts business by setting up a line for refurbishing rollers for roller presses in its production facility in Faridabad that will be fully functional in 2012.
BUSINESS OUTLOOK
With economic conditions improving slowly and cement consumption forecasted to grow moderately, the future prospects of order intake look slightly better with the Indian cement market growing out of the actual overcapacities. Outside India the Company is actively working on business opportunities in Sri Lanka and Bangladesh was started to receive more focus for coming business. Customers will remain cautious with their decision to award new projects and margins will remain low due to intense competition. The Company intends to grow its turnover and profitability by increasing its spare parts and service business, in particular considering the additional business of roller press refurbishment. Nevertheless there is a risk that customers will continue to delay project execution, which will have an adverse impact on sales and profitability.
EXPORTS
The Company’s exports decreased to Rs. 940.000 Millions in the current year from Rs. 1271.000 Millions in the previous year 2010 due to a reduction in export projects.
INDEX OF CHARGES: NO
CHARGES EXIST FOR THE COMPANY
FIXED ASSETS
- Building
- Plant machinery
- Office equipments
- Computer equipments
- Vehicles,
AS PER WEBSITE
Press Release
KHD WINS NEW ORDER
FOR 9000TPD ACC PLANT, INDIA
Published 19 December
2012
KHD Humboldt Wedag International AG subsidiaries, Humboldt Wedag India, Private Limited and Humboldt Wedag GmbH received an order from Holcim Group company ACC Limited India, for a new 9000tpd cement plant.
The total project value, of €69m, consists of a euro portion of €19.8m and an Indian rupee portion equivalent to €49.2m. The plant will be built in Jamul, Chhattisgarh, India and is scheduled for commissioning in May 2015.
KHD will supply its energy-efficient COMFLEX® technology for the raw material grinding plant, as well as core equipment for pyroprocessing and clinker grinding. The project is one of the first large, full-line projects to be awarded in India this year and is KHD’s first project with ACC Limited, the second largest player on the Indian market.
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.58.91 |
|
|
1 |
Rs.90.68 |
|
Euro |
1 |
Rs.78.22 |
INFORMATION DETAILS
|
Information
Gathered by : |
NYN |
|
|
|
|
Report Prepared
by : |
NTH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--LITIGATION |
YES/NO |
YES |
|
--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 |
|
49 |
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 |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.