MIRA INFORM REPORT
|
Report Date : |
29.03.2013 |
IDENTIFICATION DETAILS
|
Name : |
andrew telecommunicationS India private
LIMITED |
|
|
|
|
Registered
Office : |
Plot No. N-2, Phase IV, Verna Industrial Estate, Verna Salcette – 403
511, |
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|
Country : |
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|
Financials (as
on) : |
31.03.2012 |
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|
|
|
Date of
Incorporation : |
09.10.1997 |
|
|
|
|
Com. Reg. No.: |
24-002452 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs.49.404 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U32204GA1997PTC002452 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
BLRA04908B |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCA8820A |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
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|
|
Line of Business
: |
Company is engaged in providing telecommunication
solutions |
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|
|
No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
B (36) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 1000000 |
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|
|
|
Status : |
Moderate |
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|
|
Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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|
Comments : |
Subject is a part of “Andrew LLC, USA” It is an established company having a moderate track record. There
appears continuous losses recorded by the company. However, networth of the company appears to be strong. The company get
good support from its group companies. Trade relations are reported to be fair. Business is active. Payments
are reported to be slow but correct. The company can be considered for business dealings with slight
caution. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
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.
INFORMATION DECLINED BY
|
Name : |
Mr. S.P Samantha |
|
Contact No.: |
91-932-6685200 |
|
Date : |
29.03.2013 |
LOCATIONS
|
Registered Office/Factory : |
Plot No. N-2, Phase IV, Verna Industrial Estate, Verna Salcette – 403
511, |
|
Tel. No.: |
91-832-6685200 / 201 / 202 / 2407303 |
|
Fax No.: |
91-832-6685025 / 6685104 / 6685107 |
|
E-Mail : |
|
|
Website : |
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|
|
|
Corporate Office : |
Andrew Corporation |
|
Tel. No.: |
1-708-349-3300 |
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|
|
|
Overseas Office
: |
Located at · · · · · · · · · HongKong · · · · · · · · · · · · · Switzerkland · · ·
|
DIRECTORS
As on 28.09.2012
|
Name : |
Mr. Daniel John Hartnett |
|
Designation : |
Director |
|
Address : |
110 South |
|
Date of Birth/Age : |
16.10.1955 |
|
Date of Appointment : |
10.11.1998 |
|
DIN : |
00438363 |
|
|
|
|
Name : |
Mr. Antonio Augusto Do Rego |
|
Designation : |
Managing Director |
|
Address : |
E 626, Natsha Golf View Apartments, Domlur, |
|
Date of Birth/Age : |
24.09.1960 |
|
Date of Appointment : |
20.11.2007 |
|
DIN : |
01895508 |
|
|
|
|
Name : |
Mr. Michael David Coppin |
|
Designation : |
Director |
|
Address : |
|
|
Date of Birth/Age : |
26.09.1964 |
|
Date of Appointment : |
20.05.2008 |
|
DIN : |
02135137 |
KEY EXECUTIVES
|
Name : |
Mr. Arun Haridev Kohli |
|
Designation : |
Secretary |
|
Address : |
S2 / 5A, Model Millenium Vista, Caranzalem, Panjim – 403 001, |
|
Date of Birth/Age : |
15.02.1960 |
|
Date of Appointment : |
02.09.2005 |
|
PAN : |
AKUPK0393E |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 28.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
Andrew |
|
4940431 |
|
|
|
1 |
|
Total |
|
4940432 |
As on 28.09.2012
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 |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Company is engaged in providing telecommunication
solutions |
||||||||
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|
||||||||
|
Products : |
|
GENERAL INFORMATION
|
No. of Employees : |
Information declined by the management |
|
|
|
|
Bankers : |
Bank of America, Delhi Branch, India
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
S R Batliboi and Company Chartered Accountants |
|
Address : |
Jalan Mil Compound, 95, Ganpatrao Kadam Marg, Lower parel,
Mumbai – 400013, |
|
Tel. No.: |
91-22-2287 6485 / 6 |
|
Fax No.: |
91-22-2287 6401 |
|
PAN.: |
AALFS0506L |
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|
|
|
Holding company : |
Andrew LLC, U.S.A. |
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Ultimate Holding
Company : |
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|
Fellow subsidiary : |
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CAPITAL STRUCTURE
As on 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
20000000 |
Equity Shares |
Rs.10/- each |
Rs.200.000 millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4940432 |
Equity Shares |
Rs.10/- each |
Rs.49.404
millions |
|
|
|
|
|
Disclosure of
shareholding more than five per cent in company
|
Name of shareholder |
Number of shares held in company |
Percentage of shareholding in company |
|
Andrew Llc |
49,40,431 |
99.99% |
Terms/ rights attached
to equity shares -
The company has only one class of equity shares having par value of Rs.10 per share. Each holder of equity shares is entitled to one vote per share.
In the event of liquidation of the company, the holders of equity shares will be entitled to receive remaining assets of the company, after distribution of all preferential amounts. The distribution will be in proportion to the number of equity shares held by the shareholders.
As per of the Company, including its register of shareholders/members and other declarations received from shareholders regarding beneficial interest, the above shareholding represents both legal and beneficial ownerships of shares.
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 |
49.404 |
49.404 |
49.404 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
2206.464 |
2383.097 |
2418.146 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
2255.868 |
2432.501 |
2467.550 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0000 |
0.000 |
|
|
2] Unsecured Loans |
1199.240 |
1199.240 |
1324.944 |
|
|
TOTAL BORROWING |
1199.240 |
1199.240 |
1324.944 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
DEFERRED PAYMENT LIABILITIES |
|
|
6.750 |
|
|
|
|
|
|
|
|
TOTAL |
3455.108 |
3631.741 |
3799.244 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
721.652 |
914.286 |
1043.579 |
|
|
Capital work-in-progress |
6.517 |
15.151 |
113.467 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
53.477 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
861.958
|
1226.625 |
1428.728
|
|
|
Sundry Debtors |
775.023
|
1733.210 |
1448.634
|
|
|
Cash & Bank Balances |
1269.634
|
592.490 |
502.379
|
|
|
Other Current Assets |
38.746
|
167.598 |
0.000 |
|
|
Loans & Advances |
993.577
|
909.772 |
852.564
|
|
Total
Current Assets |
3938.938
|
4629.695 |
4232.305 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
1108.555
|
1691.190 |
1495.422 |
|
|
Other Current Liabilities |
93.148
|
223.546 |
137.804
|
|
|
Provisions |
10.296
|
12.655 |
10.358
|
|
Total
Current Liabilities |
1211.999
|
1927.391 |
1643.584 |
|
|
Net Current Assets |
2726.939
|
2702.304 |
2588.721
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
3455.108 |
3631.741 |
3799.244 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
5744.749 |
7967.581 |
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL |
4252.708 |
5744.749 |
7967.581 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
4245.019 |
5567.322 |
7812.385 |
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
4245.019 |
5567.322 |
7812.385 |
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
7.689 |
177.427 |
155.196 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
180.141 |
177.427 |
142.271 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX |
(172.452) |
0.000 |
12.925 |
|
|
|
|
|
|
|
|
|
|
PRIOR PERIOD
ITEM |
0.000 |
(34.190) |
51.151 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
1.795 |
65.561 |
18.314 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX |
(174.247) |
(31.401) |
[19.912] |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
907.252 |
938.653 |
958.565 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
733.005 |
907.252 |
938.653 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
FOB Value of Export |
933.419 |
1079.272 |
779.449 |
|
|
|
Agency Commission |
9.127 |
7.605 |
46.801 |
|
|
TOTAL EARNINGS |
942.546 |
1086.877 |
826.25 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
(35.27) |
(6.36) |
NA |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
(4.10)
|
(0.55) |
(0.25)
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(3.70)
|
0.00 |
(0.72)
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.08)
|
0.00 |
(0.01)
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.53
|
0.49 |
0.54
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
3.25
|
2.40 |
2.57
|
LOCAL AGENCY FURTHER INFORMATION
SUNDRY CREDITORS
DETAILS
(Rs.
In millions)
|
Particulars |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
|
|
|
Dues of Micro and small enterprises |
1108.555 |
1691.190 |
31.714 |
|
Dues of creditors other than Micro and small enterprises |
0.000 |
0.000 |
1463.708 |
|
Total |
1108.555 |
1691.190 |
1495.422 |
|
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 |
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
Subject is registered in India as a wholly-owned subsidiary company of Andrew LLC, U.S.A. (formerly known as Andrew Corporation, U.S.A.); the ultimate holding company being CommScope Holding Co. Inc. (effective 14 January 2011 and CommScope Inc prior to such date)
CommScope or formerly Andrew group is engaged in providing telecommunication solutions. CommScope Group is the foremost global supplier of one-stop, end-to-end radio frequency subsystem solutions. The group designs, manufactures and delivers complete solutions for wireless infrastructure, including top-of-the-tower base station antennas to cable systems, radio frequency site solutions, signal distribution and network optimization. Subject is primarily engaged in the business of providing complete solutions to customers in the telecommunication industry. The Company supplies telecommunication products such as co-axial cables, base station antennas, micro-wave antennas and similar allied products to its customers as a single complete solution and the solution may include such products which may be manufactured from raw materials or imported as finished goods, depending on the requirement of the end customers.
UNSECURED LOAN
(Rs.
In Millions)
|
Particular |
As
on 31.03.2012 |
As
on 31.03.2011 |
|
Long-term borrowings |
|
|
|
Bonds/ debentures Privately Placed Debentures |
1199.240 |
1199.240 |
|
Total |
1199.240 |
1199.240 |
|
During the year 2009-10 the Company has issued 11,992,400 numbers of 12.5% unsecured Fully Convertible Debentures (FCD) of Rs.100/- each convertible into equity shares of Rs.10 each at a premium of Rs.90, provided the FCDs shall be compulsorily converted into Equity Shares at the end of the term of 51 (fifty one) years to be computed from the date of issue of the FCDs, provided that: If the conversion price (face value plus premium) is less than the price, as on or around the date of conversion, as per the minimum pricing guidelines stipulated by the Reserve Bank of India (Regulatory Price), all FCDs shall be converted into such numbers of Equity Shares as is arrived at by dividing the aggregate value of FCDs by the Regulatory Price and (2) the Equity Shares to be issued pursuant to the conversion shall be a round figure. Conversion Date: The Conversion Date shall be at the end of the Term, except in the case of an Accelerated Conversion (as defined below) or a Default. The principal and accrued interest, if any, will be converted into Equity Shares on the Conversion Date, subject to regulatory approvals. Accelerated Conversion: The FCDs will be converted into Equity Shares, if (i) the Company is insolvent, (ii) a judgment is issued for the Companys judicial liquidation , (iii) the Company is otherwise wound up or dissolved, except in connection with a merger or other reorganisation, provided that the transferee entity in such merger or reorganisation assumes the obligations resulting from the FCDs, (iv) the law requires a shorter period of conversion of the FCDs or (v) the Company, at its sole option, converts the FCDs into Equity Shares in one or more tranches, but not before June 30, 2015 Interest : Interest shall accrue at a rate of 12.5% per annum payable on the average total face value of all outstanding debentures during the respective financial year, provided that (1) the payment accrues and is payable , if and only to the extent that the company realises profit in the relevant financial year and (2) the interest shall be paid or converted into debentures within a period of 3 years from the date it is due, subject to regulatory approvals |
||
FIXED ASSETS
- Leasehold Land
- Leasehold Improvements
- Buildings
- Plant and Machinery
- Office Equipments
- Furniture and Fixtures
- Computers
- Vehicles
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 records 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.54.39 |
|
|
1 |
Rs.82.32 |
|
Euro |
1 |
Rs.69.54 |
INFORMATION DETAILS
|
Information Gathered
by : |
PLK |
|
|
|
|
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 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
4 |
|
--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 |
|
36 |
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.