MIRA
INFORM REPORT
|
Report Date : |
16.11.2013 |
IDENTIFICATION DETAILS
|
Name : |
POWERBAND INDUSTRIES PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Survey No. 354 / 3, 4, 5, Kachigam, Daman – 396210, Daman
and Diu |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
02.05.2011 |
|
|
|
|
Com. Reg. No.: |
56-004695 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.5.000
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24110DD2011PTC004695 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
SRTP04558B |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturing of Self Adhesive BOPP Tapes, Stretch Films, and
Synthetic Acrylic Emulsion Resin. |
|
|
|
|
No. of Employees
: |
150 (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 620000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track record. Financial
of the company appears to be above average. Trade relation reported to be
fair. Business is active. Payment terms are reported to be usually correct. The company can be considered for business dealing 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
India’s current
account deficit or CAD in April-June widened to 4.9 % of gross domestic
product. High imports of gold and oil led to a worsening of the trade deficit,
resulting in CAD jumping to $ 21.8 billion to the latest quarter from $ 16.9
billion in the corresponding quarter of the previous financial year. The
government aims to bring down CAD to 3.7 % or $ 70 billion, in 2013/14, from
4.8 % or $ 88.2 billion in 2012/13.
The finance ministry
has started preparations for Budget 2014/15. With general elections scheduled
to be held by May next year, there will only be an interim budget. The new
government will present the fiscal Budget.
The Supreme Court
has barred clinical trials for new drugs till a monitoring mechanism is put in place
to protect the lives of people on which the drugs are tested.
Mumbai has been
named the world’s second most honest city according to a survey on 15 cities
worldwide by Readers’ Digest magazine. Finnish capital Helsinki bagged the top
spot for the world’s most honest city while Lisbon, the capital of Portugal,
proved to be the least honest. The survey put hundreds of people to test
in four continents to find out just how honest they were by dropping wallets
and seeing how many would be returned.
3.7 % Growth of the
core sector in August, a seven month high. This takes the overall growth in
April-August this year to 2.3 % compared with 6.3 % in the corresponding period
next financial year.
$19 million
Estimated average spending by companies across the globe including India, on
social media this year, according to a global study by information technology
major Tata Consultancy Services. This will rise to $ 24 million in 2015.
Rising inflation,
fewer employment avenues and dwindling earnings are taking a toll on the
spending capacity in India. Over 72 % respondents from middle and lower middle
income families would be forced to slash their Diwali expenditure by 40 % and
on average spend nearly 25 % of their monthly salary on Diwali, according to a
survey by Assochem.
Analysts believe the
shutdown of the US government would have limited impact in sectors such as IT
or tourism that are dependent on Visa clearances.
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
|
Name : |
Mr. Narish Desai |
|
Designation : |
Administrative Department |
|
Contact No.: |
91-260-3053000 |
|
Date : |
15.11.2013 |
LOCATIONS
|
Registered Office / Factory : |
Survey No. 354 / 3, 4, 5, Kachigam, Daman – 396210, Daman
and Diu, India |
|
Tel. No.: |
91-260-3053000 |
|
Fax No.: |
91-260-3053100 |
|
E-Mail : |
|
|
Website : |
|
|
Area: |
24000 sq. ft. |
|
Location : |
Owned |
DIRECTORS
AS ON 10.09.2013
|
Name : |
Mr. Rajan Rameshchandra Desai |
|
Designation : |
Managing Director |
|
Address : |
1 Floor, Mehara Houses, 2/10 Azad Nagar Society, N.S Road No 1, Juhu,
Vile Parle (West), Mumbai – 400056, Maharashtra, India |
|
Date of Birth/Age : |
10.07.1954 |
|
Date of Appointment : |
02.02.2011 |
|
DIN No.: |
02187348 |
|
PAN No.: |
ABGPD9914R |
|
Name : |
Mr. Siddharth Rajan Desai |
|
Designation : |
Whole-time director |
|
Address : |
At-Atul Society, Vapi - Valsad Road, Valsad – 396191, Gujarat, India |
|
Date of Birth/Age : |
19.06.1984 |
|
Date of Appointment : |
02.05.2011 |
|
DIN No.: |
02305162 |
|
PAN No.: |
AOQPD2750N |
|
Name : |
Mr. Harsh Rajan Desai |
|
Designation : |
Whole-time director |
|
Address : |
At-Atul Society, Vapi - Valsad Road, Valsad – 396191, Gujarat, India |
|
Date of Birth/Age : |
22.04.1980 |
|
Date of Appointment : |
02.05.2011 |
|
DIN No.: |
02262746 |
|
PAN No.: |
AGMPD3344G |
KEY EXECUTIVES
|
Name : |
Mr. Narish Desai |
|
Designation : |
Administrative Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 10.09.2013
|
Names of Shareholders |
|
No. of Shares |
|
Rajan Rameshchandra Desai |
|
470000 |
|
Siddharth Rajan Desai |
|
15000 |
|
Harsh Rajan Desai |
|
15000 |
|
|
|
|
|
TOTAL
|
|
500000 |
AS ON 10.09.2013
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Directors
or relatives of directors |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing of Self Adhesive BOPP Tapes, Stretch Films, and
Synthetic Acrylic Emulsion Resin. |
|
|
|
|
Exports : |
|
|
Products : |
Packaging Material |
|
Countries : |
·
USA ·
UK ·
Europe ·
Africa Country ·
Germany ·
Malaysia ·
Middle East |
|
|
|
|
Imports : |
|
|
Products : |
Raw Materials |
|
Countries : |
·
Singapore ·
Japan ·
Malaysia |
|
|
|
|
Terms : |
|
|
Selling : |
Cash and Credit |
|
|
|
|
Purchasing : |
Cash and Credit |
GENERAL INFORMATION
|
No. of Employees : |
150 (Approximately) |
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Bankers : |
·
ICICI Bank Limited, JMC House, Opposite Parimal
Garden, Ambawadi, Ahmedabad - 380006, Gujarat, India ·
HDFC Bank Limited, HDFC Bank House, Senapati
Bapat Marg, Lower Parel (West), Mumbai – 400013, Maharashtra, India ·
Citibank N.A., Jeevan Bharti Building, 124,
Connaught Circus, New Delhi-110001, India |
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Kakaria and Associates Chartered Accountants |
|
Address : |
Vapi, Gujarat, India |
|
PAN No: |
AAHFK2571P |
CAPITAL STRUCTURE
AS ON 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
1000000 |
Equity Shares |
Rs.10/- each |
Rs.10.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
500000 |
Equity Shares |
Rs.10/- each
|
Rs.5.000
Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES
OF FUNDS |
|
31.03.2013 |
31.03.2012 |
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
5.000 |
5.000 |
|
(b) Reserves & Surplus |
|
150.218 |
45.020 |
|
(c) Money received
against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2)
Share Application money pending allotment |
|
0.000 |
0.000 |
|
Total Shareholders’ Funds (1) + (2) |
|
155.218 |
50.020 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term
borrowings |
|
172.241 |
197.845 |
|
(b) Deferred tax liabilities (Net) |
|
9.607 |
4.225 |
|
(c) Other long
term liabilities |
|
0.000 |
0.000 |
|
(d) long-term
provisions |
|
1.951 |
0.000 |
|
Total Non-current
Liabilities (3) |
|
183.799 |
202.070 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
|
125.510 |
77.999 |
|
(b)
Trade payables |
|
144.500 |
53.751 |
|
(c)
Other current liabilities |
|
17.307 |
17.122 |
|
(d) Short-term
provisions |
|
3.793 |
2.411 |
|
Total Current
Liabilities (4) |
|
291.110 |
151.283 |
|
|
|
|
|
|
TOTAL |
|
630.127 |
403.373 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
|
276.914 |
173.248 |
|
(ii)
Intangible Assets |
|
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
|
47.320 |
0.000 |
|
(iv) Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current
Investments |
|
0.000 |
0.000 |
|
(c) Deferred tax
assets (net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
0.000 |
0.000 |
|
(e) Other
Non-current assets |
|
0.040 |
0.075 |
|
Total Non-Current
Assets |
|
324.274 |
173.323 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
|
0.000 |
0.000 |
|
(b)
Inventories |
|
107.156 |
69.206 |
|
(c)
Trade receivables |
|
167.013 |
149.003 |
|
(d) Cash
and cash equivalents |
|
15.687 |
1.747 |
|
(e)
Short-term loans and advances |
|
15.997 |
10.094 |
|
(f)
Other current assets |
|
0.000 |
0.000 |
|
Total
Current Assets |
|
305.853 |
230.050 |
|
|
|
|
|
|
TOTAL |
|
630.127 |
403.373 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
|
1085.545 |
|
|
|
Other Income |
|
|
1.107 |
|
|
|
TOTAL (A) |
|
1529.849 |
1086.652 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
|
|
861.876 |
|
|
|
Changes in inventories of finished goods, work-in-progress and
stock-in-trade |
|
1388.769 |
14.800 |
|
|
|
Employee benefit expense |
|
|
18.267 |
|
|
|
Other expenses |
|
|
115.067 |
|
|
|
TOTAL (B) |
|
1388.769 [Including
Depreciation and Financial Expenses] |
1010.010 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
|
|
76.642 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
|
|
9.278 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
|
|
67.364 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
|
|
10.309 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
|
141.080 |
57.055 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
|
34.591 |
15.335 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
|
106.489 |
41.720 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
|
212.98 |
90.04 |
|
|
Particulars |
|
|
31.03.2013 |
|
Sales Turnover [Approximately] |
|
|
1520.000 |
KEY RATIOS
|
PARTICULARS |
|
|
31.03.2013 |
31.03.2012 |
|
PAT / Total Income |
(%) |
|
6.96 |
3.84 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
|
NA |
5.56 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
|
24.21 |
24.79 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
|
0.91 |
1.14 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
|
1.92 |
5.51 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
|
1.05 |
1.52 |
LOCAL AGENCY FURTHER INFORMATION
DETAILS OF CURRENT MATURITIES OF LONG TERM
DEBT:
|
Particulars |
|
31.03.2013 [Rs. in millions] |
31.03.2012 [Rs. in millions] |
|
|
|
|
|
|
Current
Maturities of Long Term Debt |
|
8.178 |
13.769 |
|
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 two years |
Yes |
|
12] |
Profitability for last two 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 |
No |
|
19] |
Payments terms |
Yes |
|
20] |
Export / Import details (if applicable) |
Yes |
|
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] |
PAN of Proprietor/Partner/Director, if available |
No |
|
32] |
Date
of Birth of Proprietor/Partner/Director, if available |
Yes |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
No |
INDEX OF CHARGES:
|
S. No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service
Request Number (SRN) |
|
1 |
10387004 |
19/11/2012 |
54,700,000.00 |
ICICI BANK
LIMITED |
LANDMARK, RACE
COURSE CIRCLE, VADODARA - |
B62213467 |
|
2 |
10382535 |
25/09/2012 |
10,000,000.00 |
ICICI BANK
LIMITED |
LANDMARK RACE
COURCE CIRCLE, ALKAPURI, BARODA - 390015, GUJARAT, INDIA |
B60439817 |
|
3 |
10382533 |
25/09/2012 |
94,100,000.00 |
ICICI BANK
LIMITED |
LANDMARK RACE
COURCE CIRCLE, ALKAPURI, BARODA - 390015, GUJARAT, INDIA |
B60440310 |
|
4 |
10312450 |
12/11/2012 * |
249,100,000.00 |
ICICI BANK
LIMITED |
JMC HOUSE, OPP.
PARIMAL GARDEN, AMBAWADI, AHMEDABAD - 380006, GUJARAT, INDIA |
B62143623 |
|
5 |
10302309 |
28/09/2013 * |
352,200,000.00 |
HDFC BANK
LIMITED |
HDFC BANK
HOUSESENAPATI BAPAT MARG, LOWER PAREL (WEST), MUMBAI - 400013, Maharashtra,
INDIA |
B86526241 |
|
6 |
10319313 |
25/09/2012 * |
145,000,000.00 |
ICICI BANK
LIMITED |
JMC HOUSE, OPP. PARIMAL
GARDEN, AMBAWADI, AHMEDABAD - 380006, GUJARAT, INDIA |
B60376928 |
|
* Date of charge modification |
||||||
CORPORATE INFORMATION:
Subject is a
Private Limited Company, formed vide certificate of incorporation dated
02/05/2011, assessed to income tax having registered address At: Survey No;-
354/3,4,5 Kachigam, Daman-396210. Powerband Industries Private Limited is into
the business of Manufacturing of Self Adhesive BOPP Tapes, Stretch Films, and
Synthetic Acrylic emulsion resin.
OPERATIONS:
During the year,
the performance of the company was tremendous. The total revenue of the company
for the financial year has been increased from Rs. 1086.652 Millions to Rs.
1529.848 Millions The Profit after tax for the financial year has stepped up
from Rs. 45.019 Millions to Rs. 106.488 Millions while earning per share has
increased from Rs. 90.04 per share to Rs. 212.98 which exhibit magnificent
performance of the company. The Directors are striving hard by making more
sincere efforts for better growth and prospects of the Company in future and to
yield better returns for the members of the company.
|
Unsecured Loan |
As
on 31.03.2013 [Rs.
in Millions] |
As
on 31.03.2012 [Rs.
in Millions] |
|
Long Term
Borrowings |
|
|
|
Loans and Advances From Related Parties |
82.974 |
190.143 |
|
|
|
|
|
Short Term
Borrowings |
|
|
|
Loans and Advances From Directors |
94.825 |
0.000 |
|
TOTAL
|
177.799 |
190.143 |
FIXED ASSETS:
·
Land
·
Buildings
·
Plant and equipment
·
Furniture and fixtures
·
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 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.63.06 |
|
|
1 |
Rs.101.15 |
|
Euro |
1 |
Rs.84.95 |
INFORMATION DETAILS
|
Information
Gathered by : |
PDT |
|
|
|
|
Report Prepared
by : |
TPT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
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 |
YES |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
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.