MIRA INFORM REPORT
|
Report Date : |
26.03.2013 |
IDENTIFICATION DETAILS
|
Name : |
JSK INDUSTRIES PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
9 A.K. Naik Marg, Near Empire Cinema, CST (VT), Mumbai-400001,
Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
20.09.2005 |
|
|
|
|
Com. Reg. No.: |
11-156332 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.146.515
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U27100MH2005PTC156332 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMJ11408F |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCJ5937F |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturing and Trading in Aluminium Products and Conductors. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (50) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 4000000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having 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 |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
|
Rating |
Fund based bank facilities: BBB (Withdrawn) |
|
Rating Explanation |
Moderate degree of safety and moderate credit risk. |
|
Date |
January, 2013 |
Note: Reason for withdrawal: Full repayment of the instrument on
maturity.
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 : |
9 A.K. Naik Marg, Near Empire Cinema, CST (VT), Mumbai-400001,
Maharashtra, India |
|
Tel. No.: |
91-22-66550777 / 66253700 |
|
Fax No.: |
91-22-66550780 |
|
E-Mail : |
|
|
Website: |
|
|
|
|
|
Factory 1 : |
Survey No. 369/1/2, Behind Siyaram Silk Mills Limited, Village Sayli, Silvassa-396230,
Dadra and Nagar Haveli, India |
|
|
|
|
Factory 2 : |
Survey No. 126/1, Near Rakholi School, Rakholi, Silvassa-396240, Dadra
and Nagar Haveli, India |
|
|
|
|
Branch Office: |
Located at Ahmedabad |
DIRECTORS
As on 28.12.2012
|
Name : |
Mr. Anish Dineshchandra Shah |
|
Designation : |
Directr |
|
Address : |
303/A-Wing, Chandanbala Apartments, RR Thakkar Marg, Off Ridge Road, Walkeshwar, Mumbai-400006, Maharashtra, India |
|
Date of Birth/Age : |
07.11.1976 |
|
Date of Appointment : |
29.09.2005 |
|
PAN No.: |
AAHPS8002P |
|
Din No.: |
00466560 |
|
|
|
|
Name : |
Mr. Kalpesh Dineshchandra Shah |
|
Designation : |
Director |
|
Address : |
303/A-Wing, Chandanbala Apartments, RR Thakkar Marg, Off Ridge Road, Walkeshwar, Mumbai-400006, Maharashtra, India |
|
Date of Birth/Age : |
21.02.1975 |
|
Date of Appointment : |
26.09.2005 |
|
PAN No.: |
ALCPS8039E |
|
Din No.: |
01546268 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 28.12.2012
|
Names of Shareholders |
No. of Shares |
Percentage of
Holding |
|
Sunandaben D. Shah |
700000 |
4.78% |
|
Kalpesh D. Shah |
288980 |
1.97% |
|
Kalpesh D. Shah HUF |
840000 |
5.74% |
|
Keval K Shah (Minor) |
980000 |
6.69% |
|
Anish D. Shah |
848980 |
5.79% |
|
Anish D. Shah HUF |
1260000 |
8.60% |
|
Hetal A. Shah |
1260000 |
8.60% |
|
Prayagchand Ashok kumar Private Limited, India |
2850090 |
19.45% |
|
Eklavaya Management Services Private Limited, Indai |
2817733 |
19.23% |
|
Purak Trading Private Limited, India |
2805743 |
19.15% |
|
Total |
14651526 |
100.00% |
Equity Share Break up (Percentage of Total Equity)
As on 28.12.2012
|
Category |
Percentage |
|
Bodies corporate |
57.83 |
|
Directors or relatives of Directors |
42.17 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing and Trading in Aluminium Products and Conductors. |
||||
|
|
|
||||
|
Products : |
v Aluminium Plain Sheets
v Aluminium Corrugated Sheets v Aluminium Plates v Aluminium Coils v Aluminium Foils v Aluminium Wires v Aluminium Ingots v Aluminium Conductors v Aluminium Extrusions |
PRODUCTION STATUS [AS ON 31.03.2011]
|
Particulars |
Installed
Capacity |
Actual
Production |
|
Finished Goods [Own] |
155244.000 |
69406 |
|
Finished Goods [For Own Consumption] |
-- |
41692.10 |
|
Finished Goods [Conversion For Others] |
-- |
8521.72 |
|
Capacity Utilization [%]* |
-- |
77.05 |
NOTE:
- Installed capacity is as certified by
the management and accepted by auditors being a technical matter.
- * Capacity Utilization has been worked out on proportionate
installed capacity based on dates of Installations
GENERAL INFORMATION
|
Customers : |
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No. of Employees : |
Not Available |
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Bankers : |
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Facilities : |
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Banking
Relations : |
-- |
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|
Auditors : |
|
|
Name : |
MZS and Associates Chartered Accountants |
|
Address : |
The Rubby Level-9, North West Wing, Senapati Bapat Marg, Dadar (West), Mumbai-400023, Maharashtra, India |
|
Pan No.: |
AAFKM2006L |
CAPITAL STRUCTURE
As on 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
25000000 |
Equity Shares |
Rs.10/- each |
Rs.250.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
14651526 |
Equity Shares |
Rs.10/- each |
Rs.146.515
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 |
146.515 |
140.000 |
140.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
859.120 |
369.238 |
250.705 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
1005.635 |
509.238 |
390.705 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.487 |
608.089 |
249.276 |
|
|
2] Unsecured Loans |
446.922 |
342.503 |
271.164 |
|
|
TOTAL BORROWING |
447.409 |
950.592 |
520.440 |
|
|
DEFERRED TAX LIABILITIES |
54.988 |
50.191 |
42.110 |
|
|
|
|
|
|
|
|
TOTAL |
1508.032 |
1510.021 |
953.255 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
726.313 |
449.171 |
424.312 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
21.452 |
|
|
|
|
|
|
|
|
INVESTMENT |
3.309 |
3.309 |
5.500 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
845.396
|
887.725
|
531.259 |
|
|
Sundry Debtors |
776.020
|
1376.485
|
1102.842 |
|
|
Cash & Bank Balances |
357.099
|
279.629
|
345.050 |
|
|
Other Current Assets |
23.437
|
22.778
|
0.000 |
|
|
Loans & Advances |
507.891
|
618.730
|
248.454 |
|
Total
Current Assets |
2509.843
|
3185.347
|
2227.605 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
1644.629
|
1929.143
|
1642.347 |
|
|
Other Current Liabilities |
74.519
|
160.111
|
23.267 |
|
|
Provisions |
12.285
|
38.552
|
60.000 |
|
Total
Current Liabilities |
1731.433
|
2127.806
|
1725.614 |
|
|
Net Current Assets |
778.410
|
1057.541
|
501.991 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
1508.032 |
1510.021 |
953.255 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
8937.664 (Gross) |
7404.435 (Gross) |
4980.643 |
|
|
|
Other Income |
NA |
NA |
NA |
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
|
NA |
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
210.660 |
193.692 |
274.670 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
22.517 |
24.584 |
20.802 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
188.143 |
169.108 |
253.868 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
41.142 |
50.575 |
69.467 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
147.001 |
118.533 |
184.401 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Material Cost |
NA |
423.088 |
754.891 |
|
|
TOTAL IMPORTS |
NA |
423.088 |
754.891 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
10.50 |
8.47 |
13.17 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
1.64
|
1.60
|
5.10 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
5.81
|
4.65
|
9.57 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.19
|
0.33
|
0.65 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.44
|
1.87
|
1.33 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.45
|
1.50
|
1.29 |
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 |
Yes |
|
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 |
Yes |
|
33] |
Voter ID No of Proprietor/Partner/Director,
if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
The Scheme of
amalgamation is presented as an integrated and complete scheme of
Amalgamation of Nivedan Distributors Private Limited, with its JSK Industries Private Limited and It’s Shareholders, pursuant to section 391 to 394 and other relevant provisions of the Companies Act, 1956.
UNSECURED LOAN
|
Unsecured Loan |
31.03.2012 (Rs.
in Millions) |
31.03.2011 (Rs.
In Millions) |
|
Short term
Borrowings Rupee term loans from others |
446.922 |
342.503 |
|
Total |
446.922 |
342.503 |
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate
identity number of the company |
U27100MH2005PTC156332 |
|
Name of the
company |
JSK INDUSTRIES
PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
9 A.K. Naik Marg, Near Empire Cinema, CST (VT), Mumbai-400001,
Maharashtra, India Email: jsk@jskindia.in |
|
This form is for |
Creation of charge |
|
Type of charge |
Movable property (not being pledge) |
|
Particular of
charge holder |
State Bank of Patiala,
Commercial Branch, Atalanta, First Floor, Nariman Point, Mumbai-400021,
Maharashtra, India Email: sbop313@gmail.com |
|
Nature of
instrument creating charge |
Deed of
hypothecation of goods and assets dated 14th March, 2012. |
|
Date of
instrument Creating the charge |
14.03.2012 |
|
Amount secured by
the charge |
Rs. 1391.500
millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest 4.50% above Base Rate
for CC limit and Term Loan. Terms of
Repayment Working Capital
facilities sectioned are valid for a period of one year. The facilities
repayable on Demand. Margin Cash Credit : Raw Material-
Domestic and Imported : 25% SIP : 25% FG
: 25% Receivables
(cover 90 Days) : 25% Letter of
Credit
:10% BG
: 05% Extent and
Operation of the charge 1. Primary
Security : 1st pari passu
hypothecation charge on Company entire current assets with other Working
Capital banks 2. Collateral
Security : 2nd pari passu charge on the Company entire fixed
assets on pari passu basis with other WC Consortium banks 3. Guarantee : Shri Anish D.
Shah for Rs.19.300 millions Shri. Kalpesh D.
Shah for Rs.11.600 millions Others Credit Facilities
aggregating to Rs. 1391.500 millions consist of; Fund based
Working Capital Cash Credit limit of Rs.170.000 millions. Non fund based
Letter of Credit limit of Rs.760.000 millions. Non fund based
Bank Guarantee limit of Rs.460.000 millions. Term Loan
outstanding Balance of Rs. 1.500 millions. |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
1st
pari-passu hypothecation charge on Company's entire current assets with other
Working Capital banks for Working Capital 2nd
pari-passu hypothecation charge on Company's entire fixed assets on
pari-passu basis with other WC Consortium banks for Working Capital |
CONTINGENT
LIABILITIES:
(Rs. in millions)
|
PARTICULARS |
31.03.2012 |
|
|
|
|
Bank Guarantees given |
2235.775 |
|
|
|
FIXED ASSETS
- Land
- Buildings
- Plant and equipment
- Furniture and fixtures
- Vehicles
- Office equipment
- Computer equipments
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.54.10 |
|
|
1 |
Rs.82.47 |
|
Euro |
1 |
Rs.70.49 |
INFORMATION DETAILS
|
Report Prepared
by : |
MRI |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
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 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--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 |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
50 |
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.