MIRA
INFORM REPORT
|
Report Date : |
05.03.2013 |
IDENTIFICATION DETAILS
|
Name : |
GLOBAL CALCIUM PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
No. 126, Sipcot
Industrial Complex, Hosur, District Dharmapuri - 635126, Tamilnadu |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
10.10.1979 |
|
|
|
|
Com. Reg. No.: |
18-009946 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 10.929
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U02429TZ1979PTC009946 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
CHEG05659D |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
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|
|
|
Line of Business
: |
Manufacturer of calcium ascorbate ep, magnesium gluconate usp, calcium
gluconate ep, calcium lactate usp, calcium levulinate usp, calcium orotate,
ferrous orotate, lactobionic acid |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (53) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 1370000 |
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|
|
|
Status : |
Good |
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|
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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|
Comments : |
Subject is an established company having good track record. The
company is performing well. Trade relations are reported as fair. Business is
active. Payments are reported to be regular and as per commitment. The company can be considered normal for business dealings at usual
trade terms and condition. |
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 – June 30, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
|
Source
: CIA |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long term rating : BBB+ (Upgrade from BBB-) |
|
Rating Explanation |
Moderate degree of safety it carry moderate
credit risk. |
|
Date |
October 4, 2012 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short term rating : A2 (Upgrade from A3+) |
|
Rating Explanation |
Strong degree of safety it carry low credit
risk. |
|
Date |
October 4, 2012 |
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 : |
No. 126, Sipcot
Industrial Complex, Hosur, District Dharmapuri - 635126, Tamilnadu, India |
|
Tel. No.: |
91-4344-406000 |
|
Fax No.: |
91-4344-276359 |
|
E-Mail : |
|
|
Website : |
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|
|
|
|
Corporate Office : |
No. 1, Hundred Feet Road, 5th Block, Koramangala, Bangalore – 560095,
Karnataka, India |
|
Tel. No.: |
91-80-40554500 |
|
Fax No.: |
91-80-25530807 |
DIRECTORS
AS ON 29.09.2012
|
Name : |
Mr. Arif Vazirally |
|
Designation : |
Managing director |
|
Address : |
381, Sarjapur
Road, Koramangala, III Block,
Bangalore – 560034, Karnataka, India |
|
Date of Birth/Age : |
16.03.1949 |
|
Date of Appointment : |
10.10.1979 |
|
DIN No.: |
00256108 |
|
|
|
|
Name : |
Mr. Nahid Vazirally |
|
Designation : |
Director |
|
Address : |
381, Sarjapur
Road, Koramangala, III Block,
Bangalore – 560034, Karnataka, India |
|
Date of Birth/Age : |
07.08.1953 |
|
Date of Appointment : |
28.06.2002 |
|
DIN No.: |
00265406 |
|
|
|
|
Name : |
Mr. Muthuraman Chandrasekaran |
|
Designation : |
Director |
|
Address : |
B9 and 10 Sipcot
Housing Colony, Hosur, Dharmapuri - 635126, Tamilnadu, India |
|
Date of Birth/Age : |
10.08.1953 |
|
Date of Appointment : |
31.08.1999 |
|
DIN No.: |
00286153 |
|
|
|
|
Name : |
Mr. Sahil Vazirally |
|
Designation : |
Director |
|
Address : |
381, Sarjapur
Road, Koramangala, III Block,
Bangalore – 560034, Karnataka, India |
|
Date of Birth/Age : |
16.04.1978 |
|
Date of Appointment : |
29.09.2007 |
|
DIN No.: |
01478059 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 29.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
T Rafeeq Ahmed |
|
4668 |
|
M.D. Narayan |
|
59000 |
|
Arif Vazirally |
|
376750 |
|
M.D. Balakrishna |
|
10000 |
|
Ashok Sinha |
|
2000 |
|
Nahid Vazirally |
|
12388 |
|
Anur Investments Private Limited, India |
|
344997 |
|
Rishaad Vazirally |
|
7424 |
|
Sahil Vazirally |
|
8700 |
|
Beblec India Private Limited, India |
|
203240 |
|
Nihal Aladdin |
|
1492 |
|
Ahmed Mohammed Abdur Razak Osman |
|
1332 |
|
Ameer Aladdin |
|
168 |
|
Farah Aladdin |
|
164 |
|
Rajab Vazirally and Noorjehen Vazirally |
|
4980 |
|
Noorjehen Vazirally and Rajab Vazirally |
|
6868 |
|
T Adnan Ahmed |
|
2668 |
|
T Faizen Ahmed |
|
2664 |
|
Arif Vazirally and Nahid Vazirally |
|
29569 |
|
M. Chandrasekar |
|
300 |
|
Anoop Rana |
|
3500 |
|
Riva D Vaidya and Tariq D Vaidya |
|
10000 |
|
|
|
|
|
Total |
|
1092872 |
AS ON 29.09.2012
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Bodies
corporate |
|
50.16 |
|
Directors
or relatives of directors |
|
41.52 |
|
Others
|
|
8.32 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of calcium ascorbate ep, magnesium gluconate usp, calcium
gluconate ep, calcium lactate usp, calcium levulinate usp, calcium orotate,
ferrous orotate, lactobionic acid |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
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Bankers : |
Ø Citibank N.A,
506-507, Level - 5, Prestige Meridian 2, No. 30, M G Road, Bangalore -
560001, Karnataka, India Ø Indian Bank |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
|
|
Name : |
R. Subramanian and Company Chartered Accountants |
|
Address : |
36 Krishnaswamy Avenue, Chennai – 600004, Tamilnadu, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AAAFR0602F |
CAPITAL STRUCTURE
AS ON 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1,150,000 |
Equity Shares |
Rs. 10/- each |
Rs. 11.500 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1,092,872 |
Equity Shares |
Rs. 10/- each |
Rs. 10.929
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
10.929 |
10.929 |
10.929 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
332.539 |
266.434 |
230.584 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
343.468 |
277.363 |
241.513 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
131.080 |
123.184 |
134.618 |
|
|
2] Unsecured Loans |
0.050 |
0.050 |
1.050 |
|
|
TOTAL BORROWING |
131.130 |
123.234 |
135.668 |
|
|
DEFERRED TAX LIABILITIES |
70.164 |
60.185 |
41.848 |
|
|
|
|
|
|
|
|
TOTAL |
544.762 |
460.782 |
419.029 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
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FIXED ASSETS [Net Block] |
353.554 |
316.287 |
307.953 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
29.370 |
29.370 |
25.968 |
|
|
DEFERRED TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
90.827
|
58.450 |
43.058 |
|
|
Sundry Debtors |
137.823
|
117.359 |
99.266 |
|
|
Cash & Bank Balances |
34.686
|
40.150 |
30.214 |
|
|
Other Current Assets |
3.546
|
6.207 |
0.000 |
|
|
Loans & Advances |
118.719
|
102.663 |
105.443 |
|
Total
Current Assets |
385.601
|
324.829 |
277.981 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
141.225
|
|
|
|
|
Other Current Liabilities |
14.885
|
6.716 |
135.866 |
|
|
Provisions |
67.653
|
101.130 |
57.007 |
|
Total
Current Liabilities |
223.763
|
209.704 |
192.873 |
|
|
Net Current Assets |
161.838
|
115.125 |
85.108 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
544.762 |
460.782 |
419.029 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
965.282 |
747.881 |
594.188 |
|
|
|
Other Income |
28.127 |
9.480 |
7.681 |
|
|
|
TOTAL (A) |
993.409 |
757.361 |
601.869 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL (B) |
838.541 |
637.729 |
502.532 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
154.868 |
119.632 |
99.337 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
15.173 |
14.800 |
13.147 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
139.695 |
104.832 |
86.190 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
32.250 |
30.913 |
21.781 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
107.445 |
73.919 |
64.409 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
34.983 |
33.289 |
20.139 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
72.462 |
40.630 |
44.270 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’
BALANCE BROUGHT FORWARD |
142.228 |
118.377 |
87.547 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
12.000 |
12.000 |
11.000 |
|
|
|
Dividend |
5.464 |
4.098 |
2.085 |
|
|
|
Tax on Dividend |
0.886 |
0.681 |
0.355 |
|
|
BALANCE CARRIED
TO THE B/S |
196.340 |
142.228 |
118.377 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
755.823 |
582.036 |
443.329 |
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
66.30 |
37.18 |
40.51 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
7.29
|
5.43 |
7.36 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
11.13
|
9.88 |
10.84 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
14.54 |
11.53 |
10.99 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.31
|
0.27 |
0.27 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.38
|
0.44 |
0.56 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.72
|
1.55 |
1.44 |
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 |
No |
|
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 |
Yes |
UNSECURED LOANS
|
Unsecured Loans |
31.03.2012 |
31.03.2011 |
|
|
(Rs. In Millions) |
|
|
Loans and Advance from Related Parties |
0.050 |
0.050 |
|
Total |
0.050 |
0.050 |
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate
identity number of the company |
U02429TZ1979PTC009946 |
|
Name of the
company |
GLOBAL CALCIUM
PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
No. 126, Sipcot
Industrial Complex, Hosur, District Dharmapuri - 635126, Tamilnadu, India Email: info@globalcalciumpharma.com |
|
This form is for |
Modification of charge |
|
Charge
identification number of the modified |
10316695 |
|
Type of charge |
Immovable property Movable property (not being pledge) Others [Plant and Machinery, Vehicles and Equipments] |
|
Particular of
charge holder |
Citibank N.A,
506-507, Level - 5, Prestige Meridian 2, No. 30, M G Road, Bangalore -
560001, Karnataka, India Email: mounika.kancheti@citi.com |
|
Nature of
description of the instrument creating or modifying the charge |
Constructive
Memorandum of Entry with Indian Bank |
|
Date of
instrument Creating the charge |
24.09.2012 |
|
Amount secured by
the charge |
Rs. 67.500
Millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest LIBOR Plus as per
agreement. Terms of Repayment 4 Years as per
agreement. Margin As agreed from
time to time. Extent and Operation of the charge First Exclusive
charge thereon on Plant, Machinery funded out of term loan. First Pari passu
charge on all the Borrower's present and future movable Plant, Machinery,
Vehicles and equipment belonging to the Borrower. Others Constructive
Memorandum of Entry towards immovable properties (details as per First and
second schedule of the agreement) with Indian Bank secured the credit limit
of Rs.102.500 Millions of which the Term Loan of Rs.67.500 Millions and
Working Capital facilities of Rs.35.000 Millions. |
|
Short particulars
of the property charged |
Equitable
Mortgage of Immovable Properties situated at Plot No. 125 with Industrial
Building constructed thereon in SIPCOT Industrial Complex, Hosur within the
village limits of Zuzuvadi, Krishnagiri District Tamilnadu. Sy.Nos. 105(pt),
106 (pt), 108 (pt), 107 (pt) and Plot No.126 with
Industrial Building constructed thereon in SIPCOT Industrial Complex, Hosur
within the village limits of Zuzuvadi, Krishnagiri District Tamilnadu. Sy.
Nos. 104, 105, 106,100, 99. |
|
Particulars of
the present modification |
There is no
change in securities and Charge amount of Rs.67.500 Millions already filed
vide SRN No.B24944480. Additional Securities by way of Constructive
Memorandum of Entry towards immovable properties (details as per First and
second schedule of the agreement) with Indian Bank secured the credit limit
of Rs.102.500 Millions of which the Term Loan of Rs.67.500 Millions and
Working Capital facilities of Rs.35.000 Millions. All other terms and
conditions remains unchanged. |
FIXED ASSETS:
Ø Land
Ø Factory Building
Ø Plant and
Machinery
Ø Electrical
Installation
Ø Factory Equipment
Ø Furniture and
Fixture
Ø Office Equipment
Ø Vehicles
Ø Computer
Ø Air Conditioner
Ø Lab 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. 55.05 |
|
|
1 |
Rs. 82.75 |
|
Euro |
1 |
Rs. 71.61 |
INFORMATION DETAILS
|
Report Prepared
by : |
BVA |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
7 |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTERS |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
53 |
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.