MIRA INFORM REPORT
|
Report Date : |
09.11.2013 |
IDENTIFICATION DETAILS
|
Name : |
MINITEK SYSTEMS INDIA PRIVATE LIMITED |
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Registered
Office : |
1st Floor, Pingale Complex, |
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Country : |
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Financials (as
on) : |
31.03.2012 |
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Date of
Incorporation : |
10.03.2000 |
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Com. Reg. No.: |
11-124815 |
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Capital
Investment / Paid-up Capital : |
Rs. 0.875 Million |
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CIN No.: [Company Identification
No.] |
U72100MH2000PTC124815 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
NSKM02789D |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Sales and Service Provider of Hardware and Software. |
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No. of Employees
: |
120 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (47) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 75000 |
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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 satisfactory track record. Sales and profit of the company appears to be fair. Trade relations are fair. Business is active. Payment terms are
usually correct. The company can be considered 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.
INDIAN ECONOMIC OVERVIEW
The current downturn
provides an opportunity to push ahead with reforms to accelerate growth, says
the latest India Development Update report released by the World Bank. The report
says that the adverse effects of rupee depreciation are likely to be offset by
the gains in the exports performance due to improved external competitiveness.
Since May this year, the local currency has depreciated substantially and fell
to a record level of Rs 68.85 to a dollar on August, 28.
A stagflation like
situation appears to have arisen as inflation jumped to an eight month high of
6.46 % for the month of September. It is up from 6.10 % in August. Growth
continues to be muted with factory output plunging to 0.6 % in August.
Onion prices have risen nearly 300 % from last September. Vegetables cost
nearly 90 % more than they did last year. Wake up to the economic contribution
of slum dwellers. They contribute more than 7.5 % to the country’s gross
domestic product, according to a recent study conducted in 50 top cities.
136000 estimated
number of jobs created during the second quarter of the current financial year.
50000 estimated number of additional jobs in the field of corporate social
responsibility in the coming years.
The International
Finance Corporation expects to come out with its rupee linked bonds issue
before the end of 2013 as a part of its plan to raise $ 1 billion. The Apple
iPhone 5c (Rs 41900 for 16 GB variant) and 5s (Rs 53500 for 16GB variant) has
been launched in India from 1st November.
The Land Acquisition
Act to provide just and fair compensation to farmers will come into force from
January 1 next year, said Rural Development Minister Jairam Ramesh. The Act
replaces a 119 year old registration. The Securities and Exchange Board of
India has approved the trading of currency futures on the Bombay Stock
Exchange. The exchange plans to launch the currency futures platform with
advanced trading technology by the end of November.
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 PARTED BY (GENERAL DETAILS)
|
Name : |
Mr. Sudam Patil |
|
Designation : |
Collection Head |
|
Contact No.: |
91-253-2310686 |
|
Date : |
08.11.2013 |
LOCATIONS
|
Registered Office/ Head Office : |
1st Floor, Pingale Complex, |
|
Tel. No.: |
91-253-2310686 |
|
Fax No.: |
91-253-2339123/ 2310686 |
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E-Mail : |
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|
Website : |
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|
Area : |
1500 sq. ft. |
|
Location : |
Owned |
|
|
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|
Showroom : |
Head- Retail Services, Compaq Presario Showroom, Arvind Chambers,
Below Central Bank, Shranpur Road, Nashik-422002, Maharashtra, India |
|
Tel. No.: |
91-253-317219 |
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|
|
|
Branch Office : |
Located At:
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DIRECTORS
AS ON 29.09.2012
|
Name : |
Mr. Rajiv Ramchandra Gite |
|
Designation : |
Managing Director |
|
Address : |
18, Mangalya, Boystown Road, Opposite Water Purification Tank, Off
Trimbak Road, Nasik-422005, Maharashtra, India |
|
Date of Birth/Age : |
31.05.1973 |
|
Date of Appointment : |
10.03.2000 |
|
DIN No.: |
00647394 |
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|
|
|
Name : |
Mrs. Archana Rajiv Gite |
|
Designation : |
Director |
|
Address : |
18, Mangalya, Boystown Road, Opposite Water Purification Tank, Off
Trimbak Road, Nasik-422005, Maharashtra, India |
|
Date of Birth/Age : |
23.03.1980 |
|
Date of Appointment : |
30.10.2009 |
|
DIN No.: |
02742168 |
KEY EXECUTIVES
|
Name : |
Mr. Sudam Patil |
|
Designation : |
Collection Head |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 29.09.2012
|
Names of Shareholders |
No. of Shares |
|
Rajiv Ramchandra Gite |
8748 |
|
Trupti Nitin Gite |
02 |
|
TOTAL
|
8750 |
AS ON 29.09.2012
|
Equity Shares
Break Up |
Percentage of
Holding |
|
Directors or relatives of Directors |
100.00 |
|
TOTAL |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Sales and Service Provider of Hardware and Software. |
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Terms : |
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Selling : |
Credit |
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Purchasing : |
Credit |
GENERAL INFORMATION
|
Customers : |
Others [Corporate]
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No. of Employees : |
120 (Approximately) |
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Bankers : |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
|
|
Name : |
Satish Ganpat Kothule Chartered Accountant |
|
Address : |
13, Hamelia Garden Co-operative Society, Anand Nagar, Behind Akashwani
Tower, Off Gangapur Road, Nashik-422013, Maharashtra, India |
|
Mobile No.: |
91-9371074611 |
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PAN No.: |
AHDPK5715A |
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Sister Concern :
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CAPITAL STRUCTURE
AS ON 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000 |
Equity Shares |
Rs.100/- each |
Rs. 1.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
8750 |
Equity Shares |
Rs.100/-
each |
Rs. 0.875
Million |
|
|
|
|
|
NOTES
|
RECONCILIATION OF EQUITY SHARES |
As at 31st March, 2012 |
|
|
Reconciliation of number of shares outstanding |
Number |
Rs. In Millions |
|
Shares outstanding at beginning of the year |
8,750 |
0.875 |
|
Add : Shares issued during the year |
-- |
-- |
|
Less : shares bought back during the year |
-- |
-- |
|
Shares
outstanding at the end of the year |
8,750 |
0.875 |
SHARES HELD IN THE COMPANY BY EACH SHAREHOLDER HOLDING MORE THAN 5%
SHARES
|
Name of the shareholder |
Number |
% of Holding |
|
Shri Rajiv Ramchandra Gite |
8,748 |
99.98 |
FINANCIAL DATA
[all figures are in
Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2012 |
31.03.2011 |
|
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
0.875 |
0.875 |
|
(b) Reserves & Surplus |
|
17.768 |
10.998 |
|
(c) Money received against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
|
0.125 |
0.125 |
|
Total Shareholders’
Funds (1) + (2) |
|
18.768 |
11.998 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
|
4.724 |
5.202 |
|
(b) Deferred tax liabilities (Net) |
|
0.000 |
0.000 |
|
(c) Other long term liabilities |
|
0.000 |
0.000 |
|
(d) long-term provisions |
|
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
|
4.724 |
5.202 |
|
|
|
|
|
|
(4) Current
Liabilities |
|
|
|
|
(a) Short term borrowings |
|
16.508 |
12.474 |
|
(b) Trade payables |
|
49.413 |
42.349 |
|
(c) Other current liabilities |
|
3.346 |
1.418 |
|
(d) Short-term provisions |
|
5.072 |
4.513 |
|
Total Current
Liabilities (4) |
|
74.339 |
60.754 |
|
|
|
|
|
|
TOTAL |
|
97.831 |
77.954 |
|
|
|
|
|
|
ASSETS |
|
|
|
|
(1) Non-current
assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
4.655 |
4.593 |
|
(ii) Intangible Assets |
|
0.072 |
0.086 |
|
(iii) Capital work-in-progress |
|
0.000 |
0.000 |
|
(iv) Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
0.199 |
0.149 |
|
(c) Deferred tax assets (net) |
|
0.065 |
0.008 |
|
(d) Long-term Loan and Advances |
|
1.190 |
0.514 |
|
(e) Other Non-current assets |
|
0.197 |
0.197 |
|
Total Non-Current
Assets |
|
6.378 |
5.547 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
0.000 |
0.000 |
|
(b) Inventories |
|
26.835 |
22.744 |
|
(c) Trade receivables |
|
50.559 |
42.988 |
|
(d) Cash and cash equivalents |
|
9.866 |
4.958 |
|
(e) Short-term loans and advances |
|
0.801 |
0.415 |
|
(f) Other current assets |
|
3.392 |
1.302 |
|
Total Current
Assets |
|
91.453 |
72.407 |
|
|
|
|
|
|
TOTAL |
|
97.831 |
77.954 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
0.875 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
6.550 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
7.425 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
7.186 |
|
|
2] Unsecured Loans |
|
|
3.578 |
|
|
TOTAL BORROWING |
|
|
10.764 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
18.189 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
4.741 |
|
|
Capital work-in-progress |
|
|
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.149 |
|
|
DEFERREX TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
8.948 |
|
|
Sundry Debtors |
|
|
29.229 |
|
|
Cash & Bank Balances |
|
|
0.000 |
|
|
Other Current Assets |
|
|
5.901 |
|
|
Loans & Advances |
|
|
1.056 |
|
Total
Current Assets |
|
|
45.134 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
28.048 |
|
|
Other Current Liabilities |
|
|
2.642 |
|
|
Provisions |
|
|
1.145 |
|
Total
Current Liabilities |
|
|
31.835 |
|
|
Net Current Assets |
|
|
13.299 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
18.189 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Gross Turnover of Sales and Services |
418.376 |
294.907 |
175.542 |
|
|
|
|
|
|
|
|
|
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
NA |
NA |
NA |
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
14.376 |
9.527 |
5.642 |
|
|
|
|
|
|
|
|
|
|
FINANCIAL
EXPENSES |
4.111 |
2.437 |
1.436 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
10.265 |
7.090 |
4.206 |
|
|
|
|
|
|
|
|
|
|
DEPRECIATION/
AMORTISATION |
0.607 |
0.559 |
0.463 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX |
9.658 |
6.531 |
3.743 |
|
|
|
|
|
|
|
|
|
|
TAX |
3.013 |
1.936 |
1.178 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX |
6.645 |
4.595 |
2.565 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
6.645 |
4.595 |
2.565 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
759.43 |
-- |
-- |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
Return on Total Assets (PBT/Total Assets} |
(%) |
9.90
|
8.39 |
7.50 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.51
|
0.54 |
0.50 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
1.13
|
1.47 |
1.45 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.23
|
1.19 |
1.42 |
LOCAL AGENCY FURTHER INFORMATION
CURRENT
MATURITIES OF LONG-TERM DEBT DETAILS – NOT AVAILABLE
|
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 |
Yes |
|
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 |
Yes |
|
10] |
Designation of contact
person |
Yes |
|
11] |
Turnover of firm for last
four years |
Yes |
|
12] |
Profitability for last
three years |
Yes |
|
13] |
Reasons for variation
<> 20% |
----- |
|
14] |
Estimation for coming
financial year |
Yes |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
No |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
Yes |
|
19] |
Payments terms |
Yes |
|
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 |
OPERATIONAL AND FINANCIAL HIGHLIGHTS
The sales and
maintenance turnover of the Company has increased
by Rs. 123.500 Millions as compared to earlier year. This was due
to the overall growth in the Indian Economy. Indian IT sector is doing very
well, due to encouragement of IT in educational sector, and increasing use of
IT in industrial and service sectors. The bottom line could show little
improvement, due to improved margin on sale of the computers, software, and
other accessories, in the environment of stiff completion. Overall Net Margin
increased by 0.31% as compared to the previous year.
UNSECURED LOAN
(Rs.
In Millions)
|
Particular |
31.03.2012 |
31.03.2011 |
|
LONG TERM BORROWINGS |
|
|
|
Business Loan from Religare Finvest Limited (repayable in installments, as per EMI Chart) |
1.002 |
1.873 |
|
SHORT TERM BORROWINGS |
|
|
|
- From Bank ( Standard Chartered Bank ) |
9.244 |
5.199 |
|
- From Other parties (Shop Dheeraj Kankaria) |
0.000 |
0.462 |
|
|
|
|
|
TOTAL |
10.246 |
7.534 |
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request Number
(SRN) |
|
1 |
10449394 |
31/08/2013 |
5,518,092.00 |
ICICI BANK LIMITED |
LANDMARKRACE COURCE CIRCLE, ALKAPURI, BARODA, GUJARAT - 390015, INDIA |
B85155166 |
|
2 |
10389478 |
30/11/2012 |
8,000,000.00 |
ICICI BANK LIMITED |
LANDMARKRACE COURCE CIRCLE, ALKAPURI, BARODA, GUJARAT - 390015, INDIA |
B63145411 |
|
3 |
10064184 |
03/05/2013 * |
12,500,000.00 |
Shri Samarth Sahakari Bank Limited |
NAROSHANKAR, RAJEBAHADUR COMPOUND, M.G. ROAD, NASHIK, MAHARASHTRA - 422001, INDIA |
B76316421 |
|
4 |
10443036 |
14/11/2006 |
3,500,000.00 |
ICICI BANK LIMITED |
LANDMARKRACE COURCE CIRCLE, ALKAPURI, BARODA, GUJARAT - 390015, INDIA |
B65868945 |
* Date of charge modification
TRADE REFERENCE
- Jyoti
Structures Limited
- Arrow Web Tex
Limited
- Chamoli
Traders
FIXED ASSETS
- Furniture and
Fixtures
- Computer and
Printers
- UPS System
for Office
- Software for
Office Use
- Office
Equipments and Tools
- Mobile Phones
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.62.73 |
|
|
1 |
Rs.100.92 |
|
Euro |
1 |
Rs.84.06 |
INFORMATION DETAILS
|
Information
Gathered by : |
NAY |
|
|
|
|
Report Prepared
by : |
VRN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
47 |
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.