MIRA
INFORM REPORT
|
Report Date : |
07.03.2013 |
IDENTIFICATION DETAILS
|
Name : |
FIABILA INDIA LIMITED (w.e.f. 26.07.2005) |
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|
|
|
Formerly Known
As : |
ALPA RESINS AND PAINTS LIMITED |
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Registered
Office : |
17, MIDC, Taloja, Raigad – 410 208, |
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Country : |
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Financials (as
on) : |
31.03.2012 |
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Date of
Incorporation : |
20.03.1995 |
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|
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|
Com. Reg. No.: |
11-86610 |
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Capital
Investment / Paid-up Capital : |
Rs.4.111 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24222MH1995PLC086610 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMA09579D MUMA14818G |
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|
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PAN No.: [Permanent Account No.] |
AAACA4213E |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Subject is engaged in business of manufacturing, buying,
selling, marketing, exporting, fabricating or otherwise handling or dealing
in all types of paint, enamel and varnish. |
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|
|
|
No. of Employees
: |
65 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 340000 |
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|
Status : |
Satisfactory |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having a satisfactory track record.
Trade relations are reported as fair. Business is active. Payments are
reported to be usually correct and as per commitments. 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.
ECGC Country Risk Classification List – June 30, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
India |
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
India is developing into an open-market economy, yet traces
of its past autarkic policies remain. Economic liberalization, including industrial
deregulation, privatization of state-owned enterprises, and reduced controls on
foreign trade and investment, began in the early 1990s and has served to
accelerate the country's growth, which has averaged more than 7% per year since
1997. India's diverse economy encompasses traditional village farming, modern
agriculture, handicrafts, a wide range of modern industries, and a multitude of
services. Slightly more than half of the work force is in agriculture, but
services are the major source of economic growth, accounting for more than half
of India's output, with only one-third of its labor force. India has
capitalized on its large educated English-speaking population to become a major
exporter of information technology services and software workers. In 2010, the
Indian economy rebounded robustly from the global financial crisis - in large
part because of strong domestic demand - and growth exceeded 8% year-on-year in
real terms. However, India's economic growth in 2011 slowed because of persistently
high inflation and interest rates and little progress on economic reforms. High
international crude prices have exacerbated the government's fuel subsidy
expenditures contributing to a higher fiscal deficit, and a worsening current
account deficit. Little economic reform took place in 2011 largely due to
corruption scandals that have slowed legislative work. India's medium-term
growth outlook is positive due to a young population and corresponding low
dependency ratio, healthy savings and investment rates, and increasing
integration into the global economy. India has many long-term challenges that
it has not yet fully addressed, including widespread poverty, inadequate
physical and social infrastructure, limited non-agricultural employment
opportunities, scarce access to quality basic and higher education, and
accommodating rural-to-urban migration.
|
Source
: CIA |
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 : |
17, MIDC, Taloja, Raigad – 410 208, |
|
Tel. No.: |
91-22-64571665 |
|
Fax No.: |
Not Available |
|
E-Mail : |
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|
Website : |
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|
Area : |
2400 Sq. M. |
|
Location : |
Owned |
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|
Head Office/ Mumbai Office : |
124, “Udyogkshetra” |
|
Tel. No.: |
91-22-25690666 / 66906190 / 61541666 / 61541623 |
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Fax No.: |
91-22-25650018 |
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E-Mail : |
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Chennai Office: |
3, 4th Floor, “Gokul Arcade”, No. 2, Sardar Patel Road,
Adyar, Chennai-600020, Tamilnadu, India |
|
Tel No.: |
91-44-24401004 |
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Fax No.: |
91-44-24917948 |
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Email: |
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Manufacturing Facilities: |
Locate At: ·
Chennai ·
·
Mumbai ·
·
Haridwar ·
Umbergaon |
DIRECTORS
As on 29.09.2012
|
Name : |
Mr. Yogesh Korani |
|
Designation : |
Managing Director |
|
Address : |
6 Madhav Kunj, |
|
Date of Birth/Age : |
15.05.1952 |
|
Date of Appointment : |
19.02.1999 |
|
DIN No.: |
00041923 |
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|
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Name : |
Mr. Ankur Yogesh Korani |
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Designation : |
Director |
|
Address : |
6 Madhav Kunj, |
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Date of Birth/Age : |
20.02.1983 |
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Date of Appointment : |
04.03.2008 |
|
DIN No.: |
00043529 |
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|
|
|
Name : |
Mr. Lakshmanan Natraj Kalpathy |
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Designation : |
Director |
|
Address : |
14, Ground Floor, Beach Home Avenue, Besant Nagar, Chennai – 600090,
Tamilnadu, India |
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Date of Birth/Age : |
12.05.1952 |
|
Date of Appointment : |
19.02.1999 |
|
DIN No.: |
00207231 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 29.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
Fiabila SA, France |
|
209667 |
|
Sanjay Bhandari |
|
16444 |
|
Clarion Cosmetics Private Limited, |
|
184960 |
|
Clarion Cosmetics Private Limited, |
|
10 |
|
Clarion Cosmetics Private Limited, |
|
10 |
|
Clarion Cosmetics Private Limited, |
|
10 |
|
Clarion Cosmetics Private Limited, |
|
10 |
|
Total |
|
411111 |
As on 29.09.2012
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in business of manufacturing, buying,
selling, marketing, exporting, fabricating or otherwise handling or dealing
in all types of paint, enamel and varnish. |
|
|
|
|
Products : |
· Nail Polish · Nail Enamel · Nail Colour · Nail Enamel Remover · Nail Color Remover · Nail Polish Remover · Nail Colour Remover · Thixotropoic Lacquer · Thixotropic Colour · Colour Solution |
GENERAL INFORMATION
|
No. of Employees : |
65 (Approximately) |
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Bankers : |
· Citi Bank N A, 2 Floor, Citi tower, Dr. S. S. Rao Road, Parel, Mumbai-400 012, Maharashtra, India · Kotak Mahindra Bank · Standard Chartered Bank · IDBI Bank · Dena Bank ·
NKGSB Co-Operative. Bank Limited Satnam Apartments,
L. T. Road,, Mulund (East), Mumbai - 400081, Maharashtra, India |
||||||||||||||||||||||||
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Facilities : |
(Rs.
In Millions)
|
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
Lata Ramesh and Associates Chartered Accountants |
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Address : |
C-601, Panchvan Complex, |
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Tel. No.: |
91-22-28937760 / 28938035 |
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PAN.: |
AAIPR8007J |
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Associates : |
Ameya Chemicals |
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|
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Personnel (Rkmp)
Has Significant Influence. |
· Nikitaa Packaging Private Limited · Nikita Containers Private Limited · Lotus Beautycare Products Private Limited · Lta School Of Beauty Private Limited |
CAPITAL STRUCTURE
As on 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
500000 |
Equity Shares |
Rs.10/- each |
Rs.5.000 Millions |
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|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
411111 |
Equity Shares |
Rs.10/- each |
Rs.4.111
Millions |
|
|
|
|
|
Reconciliation of
share capital
|
Particulars |
Number
of Shares |
Rs. In Millions |
|
Equity Shares (Face Value Rs. 10.00) |
4,11,111.00 |
4.111 |
|
Shares outstanding at the beginning of the year |
-- |
-- |
|
Shares Issued during the year |
-- |
-- |
|
Shares bought back during the year |
-- |
-- |
|
Shares outstanding
at the end of the year |
4,11,111.00 |
4.111 |
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 |
4.111 |
4.111 |
4.111 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
82.688 |
63.424 |
51.470 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
86.799 |
67.535 |
55.581 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
11.363 |
12.482 |
4.403 |
|
|
2] Unsecured Loans |
4.400 |
4.400 |
4.400 |
|
|
TOTAL BORROWING |
15.763 |
16.882 |
8.803 |
|
|
DEFERRED TAX LIABILITIES |
0.702 |
0.798 |
0.805 |
|
|
SHARE PREMIUM A/C |
0.000 |
0.000 |
0.769 |
|
|
|
|
|
|
|
|
TOTAL |
103.264 |
85.215 |
65.958 |
|
|
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|
|
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APPLICATION OF FUNDS |
|
|
|
|
|
|
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FIXED ASSETS [Net Block] |
44.247 |
44.337 |
41.167 |
|
|
Capital work-in-progress |
48.766 |
13.947 |
10.161 |
|
|
|
|
|
|
|
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INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
26.963
|
25.278 |
16.278
|
|
|
Sundry Debtors |
25.589
|
23.796 |
17.573
|
|
|
Cash & Bank Balances |
2.345
|
4.581 |
1.325
|
|
|
Other Current Assets |
1.676
|
0.000 |
0.000
|
|
|
Loans & Advances |
14.001
|
14.799 |
17.359
|
|
Total
Current Assets |
70.574
|
68.454 |
52.535 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
45.878
|
27.317 |
0.000
|
|
|
Other Current Liabilities |
9.559
|
10.327 |
22.655
|
|
|
Provisions |
4.886
|
3.879 |
15.250
|
|
Total
Current Liabilities |
60.323
|
41.523 |
37.905 |
|
|
Net Current Assets |
10.251
|
26.931 |
14.630
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
103.264 |
85.215 |
65.958 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
240.471 |
206.765 |
142.863 |
|
|
|
Other Income |
3.997 |
3.327 |
4.310 |
|
|
|
TOTAL (A) |
244.468 |
210.092 |
147.173 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
134.706 |
130.288 |
|
|
|
|
Changes in Inventories |
(2.383) |
(10.397) |
130.576 |
|
|
|
Employee Benefit Expenses |
14.006 |
10.440 |
|
|
|
|
Other Expenses |
63.966 |
58.234 |
|
|
|
|
TOTAL (B) |
210.295 |
188.565 |
130.576 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
34.173 |
21.527 |
16.597 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
0.899 |
0.616 |
1.135 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
33.274 |
20.911 |
15.462 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
4.756 |
4.161 |
3.863 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
28.518 |
16.750 |
11.599 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
9.350 |
5.572 |
4.139 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
19.168 |
11.178 |
7.460 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
62.655 |
51.470 |
43.777 |
|
|
|
|
|
|
|
|
|
Less |
DEFERRED TAX
ASSETS |
0.096 |
0.007 |
0.233 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
81.919 |
62.6555 |
51.470 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
NA |
1.855 |
1.651 |
|
|
|
|
|
|
|
|
|
|
VALUE OF IMPORTS |
NA |
25.056 |
15.591 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
46.63 |
27.19 |
18.15 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
7.84
|
5.32 |
5.07
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
11.86
|
8.10 |
8.12
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
24.84
|
14.85 |
12.38
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.33
|
0.25 |
0.21
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.18
|
0.25 |
0.16
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.17
|
1.65 |
1.39
|
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 |
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) |
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 |
BACKGROUND OF THE
COMPANY
Subject is engaged in business of manufacturing, buying, selling, marketing, exporting, fabricating or otherwise handling or dealing in all types of paint, enamel and varnish.
BUSINESS:
The Company was
able to achieve the targeted growth during the current year. The Directors are
endeavoring to go in for better product mix and are confident of achieving much
better results in the coming years.
UNSECURED LOAN
Rs.
In Millions
|
Particular |
As
on 31.03.2012 |
As
on 31.03.2011 |
|
Long-Term
Borrowings |
|
|
|
Loans and Advances
from Related Parties |
|
|
|
Clarion Cosmetics Private Limited |
4.400 |
4.400 |
|
Total |
4.400 |
4.400 |
|
|
|
|
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate
identity number of the company |
U24222MH1995PLC086610 |
|
Name of the
company |
FIABILA INDIA
LIMITED |
|
Address of the
registered office or of the principal place of business in |
17, MIDC, Taloja, Raigad – 410 208, Maharashtra, India |
|
This form is for |
Creation of charge |
|
Type of charge |
Others (Vehicle) |
|
Particular of
charge holder |
NKGSB Co-Operative. Bank Limited Satnam Apartments, L. T. Road,, Mulund (East), Mumbai - 400081, Maharashtra, India |
|
Nature of
instrument creating charge |
Composite
Hypothecation Agreement |
|
Date of
instrument Creating the charge |
22.05.2012 |
|
Amount secured by
the charge |
Rs.1.350 Millions
|
|
Brief of the principal
terms an conditions and extent and operation of the charge |
Rate of Interest Rate of Interest
: @ minimum of 11.50% p.a., at monthly rests or at such other rate, as may be
decided, from time to time, by the Bank. Terms of Repayment Repayment of
Vehicle Loan in 60 EMIs of Rs.29,700/- each Margin Margin : 10% Extent and Operation of the charge To secure the due
repayment of Vehicle Loan of Rs.1.350 Millions, together with interest, costs,
charges and expenses etc., thereon, granted by the Bank to the Company. |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
Vehicle such as Mahindra XUV 500, purchased or to be purchased by the Company. |
FIXED ASSETS:
· Land
· Factory Building
· Electrical Fittings
· Plant and Machinery
· Furniture and Fixtures
· Handling Equipments
· Office Equipments
· Vehicles
· Computer
· Printing Line
· Air Conditioner
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.54.71 |
|
|
1 |
Rs.82.79 |
|
Euro |
1 |
Rs.71.43 |
INFORMATION DETAILS
|
Report Prepared
by : |
NTH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--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 |
|
TOTAL |
|
45 |
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.