MIRA INFORM REPORT
|
Report Date : |
29.07.2013 |
IDENTIFICATION DETAILS
|
Name : |
SIMPLEX CHEMOPACK PRIVATE LIMITED
|
|
|
|
|
Registered
Office : |
N-1, M.I.D.C., Hingna Road, Nagpur – 440 016, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
13.09.1984 |
|
|
|
|
Com. Reg. No.: |
11-034009 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs. 29.754 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24100MH1984PTC034009 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
NGPS04871G/ NGPS01477A |
|
|
|
|
PAN No.: [Permanent Account No.] |
AACCS5290F |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Woven Sacks, HDPE/ PP Tapes and Liner |
|
|
|
|
No. of Employees
: |
Information declined by the management |
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 430000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track record. The company has seen a better growth in its sales turnover as well as net
profitability during 2012. Trade relations are fair. Business is active. Payment terms are
usually correct. The company can be considered normal for business dealings 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.
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 DECLINED BY
|
Name : |
Mr. Gaurav Damodar Sarda |
|
Designation : |
Director |
|
Contact No.: |
91-9823221119 |
|
Date : |
27.07.2013 |
LOCATIONS
|
Registered Office / Factory : |
N-1, M.I.D.C., Hingna Road, Nagpur – 440 016, Maharashtra, India |
|
Tel. No.: |
91-7104-237802/ 602 |
|
Mobile No.: |
91-9823221119 (Mr. Gaurav Damodar Sarda) |
|
Fax No.: |
91-7104-232593 |
|
E-Mail : |
|
|
Website : |
DIRECTORS
As on 29.09.2012
|
Name : |
Mr. Gaurav Damodar Sarda |
|
Designation : |
Director |
|
Address : |
302, The Heritage, Civil Line, |
|
Date of Birth/Age : |
25.11.1985 |
|
Date of Appointment : |
26.08.2006 |
|
DIN No.: |
00665480 |
|
|
|
|
Name : |
Mr. Damodar Govindlal
Sarda |
|
Designation : |
Director |
|
Address : |
302, The Heritage, Civil Line, |
|
Date of Birth/Age : |
06.06.1961 |
|
Date of Appointment : |
01.09.2002 |
|
DIN No.: |
00818664 |
|
|
|
|
Name : |
Mr. Kunjan Sarda |
|
Designation : |
Director |
|
Address : |
302, The Heritage, Civil Line, Nagpur, Maharashtra, India |
|
Date of Birth/Age : |
27.08.1989 |
|
Date of Appointment : |
01.08.2010 |
|
DIN No.: |
03147795 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 29.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
Madhu Sarda |
|
26400 |
|
Damodar Sarda |
|
83247 |
|
Rosemary Vyapaar Private Limited. India |
|
145000 |
|
Gaurav Sarda |
|
7800 |
|
Kunjan Sarda |
|
5688 |
|
Divya Sarda |
|
12000 |
|
Damodar Sarda (Huf) |
|
8400 |
|
Mahesh Shah |
|
9003 |
|
Total |
|
297538 |
As on 29.09.2012
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Bodies corporate |
48.73 |
|
Directors or relatives of Directors |
48.25 |
|
Others |
3.02 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Woven Sacks, HDPE/ PP Tapes and Liner |
|
|
|
|
Products : |
|
PRODUCTION STATUS (As on 31.03.2012)
|
Particulars |
Unit |
Installed
Capacity |
|
HDPE/ PP Tapes |
MT |
4800 |
|
Woven Sacks and Fabrics |
MT |
4500 |
|
Particulars |
Unit |
Actual
Production |
|
Fabrics |
M. Tonners |
4986.60 |
|
Tape |
M. Tonners |
4001.66 |
|
Thread / Yarn |
M. Tonners |
36.45 |
|
Woven Sacks |
M. Tonners |
3537.93 |
|
Wastage |
M. Tonners |
251.47 |
GENERAL INFORMATION
|
No. of Employees : |
Information declined by the management |
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Bankers : |
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||||||||||||||||||||||||||||||||||||||||||||||||
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Facilities : |
(Rs.
In Millions)
|
|
|
|
|
Banking
Relations : |
--- |
|
|
|
|
Auditors : |
|
|
Name : |
Gandhi Rathi and Company Chartered Accountants |
|
Address : |
Parekh Centre, 3rd Floor, Opposite Daga Hospital,
Gandhibagh, Nagpur – 440002, Maharashtra, India |
|
Tel. No.: |
91-712-2766732 |
|
Fax No.: |
91-712-2764207 |
|
PAN No.: |
AASPG9977A |
|
|
|
|
Companies in which
company or its director have substantial interest : |
|
|
|
|
|
Subsidiaries : |
Complex Plastic Private Limited |
CAPITAL STRUCTURE
As on 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
300000 |
Equity Shares |
Rs.100/- each |
Rs.30.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
297538 |
Equity Shares |
Rs.100/-
each |
Rs.29.754
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 |
|
29.754 |
29.754 |
|
(b) Reserves & Surplus |
|
77.930 |
70.051 |
|
(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) |
|
107.684 |
99.805 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
33.307 |
38.230 |
|
(b) Deferred tax liabilities (Net) |
|
8.783 |
5.410 |
|
(c) Other long term
liabilities |
|
0.000 |
0.000 |
|
(d) long-term
provisions |
|
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
|
42.090 |
43.640 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
|
107.515 |
49.231 |
|
(b) Trade
payables |
|
28.155 |
40.047 |
|
(c) Other
current liabilities |
|
11.823 |
11.382 |
|
(d) Short-term
provisions |
|
6.662 |
4.256 |
|
Total Current
Liabilities (4) |
|
154.155 |
104.916 |
|
|
|
|
|
|
TOTAL |
|
303.929 |
248.361 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
|
102.504 |
55.565 |
|
(ii)
Intangible Assets |
|
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
|
1.178 |
15.358 |
|
(iv)
Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
1.000 |
1.000 |
|
(c) Deferred tax assets (net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
2.012 |
1.172 |
|
(e) Other
Non-current assets |
|
0.000 |
0.000 |
|
Total Non-Current
Assets |
|
106.694 |
73.095 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
|
0.000 |
0.000 |
|
(b)
Inventories |
|
49.195 |
56.204 |
|
(c) Trade
receivables |
|
106.952 |
72.684 |
|
(d) Cash
and cash equivalents |
|
2.087 |
4.163 |
|
(e)
Short-term loans and advances |
|
0.000 |
0.000 |
|
(f) Other
current assets |
|
39.0021 |
42.215 |
|
Total
Current Assets |
|
197.2361 |
175.266 |
|
|
|
|
|
|
TOTAL |
|
303.929 |
248.361 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
9.085 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
55.358 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
64.443 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
59.885 |
|
|
2] Unsecured Loans |
|
|
3.786 |
|
|
TOTAL BORROWING |
|
|
63.671 |
|
|
DEFERRED TAX LIABILITIES |
|
|
4.426 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
132.540 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
44.895 |
|
|
Capital work-in-progress |
|
|
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
1.000 |
|
|
DEFERREX TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
24.547 |
|
|
Sundry Debtors |
|
|
61.658 |
|
|
Cash & Bank Balances |
|
|
20.153 |
|
|
Other Current Assets |
|
|
0.000 |
|
|
Loans & Advances |
|
|
22.703 |
|
Total
Current Assets |
|
|
129.061 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
|
|
|
Other Current Liabilities |
|
|
39.906 |
|
|
Provisions |
|
|
2.510 |
|
Total
Current Liabilities |
|
|
42.416 |
|
|
Net Current Assets |
|
|
86.645 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
132.540 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
476.604 |
366.897 |
305.187 |
|
|
|
Other Income |
NA |
9.391 |
5.342 |
|
|
|
TOTAL (A) |
NA |
376.288 |
310.529 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
NA |
356.770 |
299.564 |
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL (B) |
NA |
356.770 |
299.564 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
28.775 |
19.518 |
10.965 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
13.344 |
9.215 |
5.414 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
15.431 |
10.303 |
5.551 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
4.500 |
2.983 |
2.544 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
10.931 |
7.365 |
9.731 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
3.378 |
2.278 |
3.007 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
7.553 |
5.087 |
6.724 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
99.196 |
22.345 |
0.134 |
|
|
TOTAL EARNINGS |
99.196 |
22.345 |
0.134 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
83.075 |
96.404 |
63.522 |
|
|
|
Capital Goods |
0.000 |
1.436 |
0.000 |
|
|
TOTAL IMPORTS |
83.075 |
97.840 |
63.522 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
25.39 |
17.10 |
74.02 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
NA
|
1.35 |
2.17 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
2.29
|
2.01 |
3.19 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
3.62
|
3.17 |
5.59 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.10
|
0.07 |
0.15 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
1.31
|
0.88 |
0.99 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.28
|
1.67 |
3.04 |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES OF
LONG-TERM DEBT
Rs. In Millions
|
Particular |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
|
|
|
Current maturities of long-term debt |
11.823 |
11.382 |
NA |
|
|
|
|
|
|
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 |
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 |
No |
|
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 |
FINANCIAL RESULTS /
WORKING:
During the year, the Company witnessed an improvement in its operational performance as well as financial performance. In fact the Company achieved sales turnover of Rs. 476.604 Millions as against Rs. 366.897 Millions during the last year. After providing Rs. 13.344 Millions towards interest and Rs. 4.500 Millions for depreciation and further adjusting Rs. 3.378 Millions for taxation (net), the Company posted net profit after tax, of Rs. 7.553 Millions as against Rs. 5.087 Millions during the previous year.
UNSECURED LOAN
Rs.
In Millions
|
Particular |
As
on 31.03.2012 |
As
on 31.03.2011 |
|
LONG TERM
BORROWINGS |
|
|
|
Loan & Advances from Related Parties |
|
|
|
Bhagwan Devi Sarda |
0.404 |
0.356 |
|
Damodar Sarda (HUF) |
0.009 |
0.008 |
|
Gaurav Sarda V |
0.000 |
0.906 |
|
Govind lal Sarda (HUF) |
0.291 |
0.256 |
|
Damodar Sarda |
3.423 |
11.217 |
|
Madhu Sarda |
0.000 |
1.203 |
|
Kunjan D. Sarda |
0.074 |
1.458 |
|
Total |
4.201 |
15.404 |
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10331359 |
06/10/2012 * |
153,467,000.00 |
ING VYSYA BANK LIMITED |
GUJARAT BHAVAN,SATYAM APARTMENT, 8 WARDHA ROAD,DHANTOLI, NAGPUR, Maharashtra - 440012, INDIA |
B61232716 |
|
2 |
10078005 |
12/02/2013 * |
107,050,000.00 |
SMALL INDUSTRIS DEVELOPMENT BANK OF INDIA |
NATIONAL INSURANCE BUILDING, GROUND FLOOR, S.V. PATEL MARG, KINGSWAY, NAGPUR, Maharashtra - 440001, INDIA |
B68786342 |
* Date of charge modification
FIXED ASSETS:
- Land
- Building
- Plant and
Machinery
- Furniture and
Fixtures
- Electrical
Fitting
- Computer
- Air
Conditioner
- Office
Equipment
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 : |
SVA |
|
|
|
|
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 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
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.