|
Report Date : |
25.11.2013 |
IDENTIFICATION DETAILS
|
Name : |
R.A. SHAIKH PAPER MILLS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Plot No.49, Survey No. 129/P, Amli Industrial Estate, Silvassa – 396
230, Dadra and Nagar Haveli |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
27.06.1996 |
|
|
|
|
Com. Reg. No.: |
04-000112 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.32.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U99999DN1996PTC000112 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of MG Kraft Paper. |
|
|
|
|
No. of Employees
: |
Information declined by the management. |
RATING & COMMENTS
|
MIRA’s Rating : |
B (30) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 270000 |
|
|
|
|
Status : |
Small company |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a small company in its field. Its scales of activities are
limited. The management has failed to file its financial with government
department for the year 2013. As per available financial record of 2012, Reserves of the company appears
to be low. However, trade relations are reported to be fair. Business is active.
Payment terms are slow but correct. The company can be considered for business dealings with some 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
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. Ingram |
|
Designation : |
Office Executive |
|
Contact No.: |
91-260-2401586 |
|
Date : |
22.11.2013 |
LOCATIONS
|
Registered Office : |
Plot No.49, Survey No. 129/P, Amli Industrial Estate, Silvassa – 396 230,
Dadra and Nagar Haveli, India |
|
Tel. No.: |
91-260-2401586 |
|
Fax No.: |
91-260-2401490 |
|
E-Mail : |
|
|
|
|
|
Factory : |
Plot No.185-B/11, Phase-2, GIDC, Vapi – 396 195, India |
DIRECTORS
AS ON 29.09.2012
|
Name : |
Mr. Saifan Khadirbasha Jamdar |
|
Designation : |
Director |
|
Address : |
Plot No.24, 1st Floor, Vrindavan Society, Opposite Vishal Apartment,
Silvassa – 396 230, India |
|
Date of Birth/Age : |
15.10.1953 |
|
Date of Appointment : |
27.06.1996 |
|
DIN No.: |
02562506 |
|
|
|
|
Name : |
Mr. Abbasbhai Nabibhai Shaikh |
|
Designation : |
Director |
|
Address : |
1455, Vrindavan Colony, Silvassa – 396 230, india |
|
Date of Birth/Age : |
16.03.1971 |
|
Date of Appointment : |
27.06.1996 |
|
DIN No.: |
02572596 |
|
|
|
|
Name : |
Mr. Ramzan Abbas Shaikh |
|
Designation : |
Director |
|
Address : |
Plot No.25, Vrindavan Society, Opposite Vishal Apartment, Silvassa –
396 230, India |
|
Date of Birth/Age : |
01.06.1982 |
|
Date of Appointment : |
24.12.2004 |
|
DIN No.: |
02561721 |
|
|
|
|
Name : |
Mr. Iqbal Abbas Shaikh |
|
Designation : |
Director |
|
Address : |
Plot No.25, Vrindavan Society, Opposite Vishal Apartment, Silvassa –
396 230, India |
|
Date of Birth/Age : |
10.05.1987 |
|
Date of Appointment : |
01.04.2010 |
|
DIN No.: |
02969857 |
KEY EXECUTIVES
|
Name : |
Mr. Ingram |
|
Designation : |
Office Executive |
MAJOR SHAREHOLDERS
AS ON 29.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
A.N. Shaikh |
|
2079990 |
|
Jamadar Saifan K. |
|
10 |
|
Dhanesh Contruction |
|
100000 |
|
Narayan |
|
20000 |
|
Karnavati Fin Cap. Limited, India |
|
150000 |
|
Goyal Achal Sam Vik Nty Nig Limited, India |
|
50000 |
|
Mikgure Leasing and N Inv. Limited, India |
|
100000 |
|
Bjhaskar Security Limited, India |
|
100000 |
|
Anup Exim Private Limited,
India |
|
150000 |
|
Shah H. Bharat |
|
150000 |
|
Rafik A. Shaikh |
|
100000 |
|
Mubarak A. Shaikh |
|
100000 |
|
Naznin R. Shaikh |
|
50000 |
|
Hanifa M. Shaikh |
|
50000 |
|
|
|
|
|
Total |
|
3200000 |
Equity Share Break up (Percentage of Total Equity)
AS ON 29.09.2012
|
Category |
Percentage |
|
Bodies corporate |
17.19 |
|
Directors or relatives of Directors |
74.38 |
|
Other top fifty shareholders |
8.43 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of MG Kraft Paper. |
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Products : |
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Exports : |
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Products : |
M G Paper Kraft |
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Countries : |
UAE |
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Imports : |
|
||||
|
Products : |
Raw Material |
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|
Countries : |
USA |
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Terms : |
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||||
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Selling : |
Cash, Credit and 30 Days |
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Purchasing : |
Cash, Credit and 30 Days |
GENERAL INFORMATION
|
Customers : |
Wholesalers, Retailers, End Users |
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|
||||||||||||||||||||||||||||||
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No. of Employees : |
Information declined by the management. |
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|
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Bankers : |
Dena Bank, 12,13,14 Sai Industrial Estate, Silvassa – 396 230, Dadra
and Nagar Haveli, India |
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|
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Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Mamta Gupta Chartered Accountants |
|
Address : |
Plot No. H/403, Chanod Bunglow Area, GIDC, Vapi – 396 195, Gujarat,
india |
|
PAN No.: |
AGCPA5781E |
CAPITAL STRUCTURE
AS ON 29.09.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3200000 |
Equity Shares |
Rs. 10/- each |
Rs.32.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3200000 |
Equity Shares |
Rs. 10/- each |
Rs.32.000 Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2012 |
31.03.2011 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
32.000 |
32.000 |
|
(b) Reserves & Surplus |
|
24.717 |
22.140 |
|
(c) Money
received against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
|
12.500 |
12.500 |
|
Total
Shareholders’ Funds (1) + (2) |
|
69.217 |
66.640 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
14.611 |
18.887 |
|
(b) Deferred tax liabilities (Net) |
|
0.283 |
0.636 |
|
(c) Other long term liabilities |
|
0.252 |
0.252 |
|
(d) long-term provisions |
|
0.000 |
0.000 |
|
Total Non-current Liabilities (3) |
|
15.146 |
19.775 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
|
50.709 |
51.114 |
|
(b) Trade payables |
|
33.178 |
27.907 |
|
(c) Other current
liabilities |
|
13.064 |
9.108 |
|
(d) Short-term provisions |
|
0.579 |
0.157 |
|
Total Current Liabilities (4) |
|
97.530 |
88.286 |
|
|
|
|
|
|
TOTAL |
|
181.893 |
174.701 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
48.806 |
49.142 |
|
(ii) Intangible Assets |
|
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
|
0.000 |
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 |
|
6.162 |
5.127 |
|
(e) Other Non-current assets |
|
0.088 |
0.089 |
|
Total Non-Current Assets |
|
55.056 |
54.358 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
0.000 |
0.000 |
|
(b) Inventories |
|
36.655 |
45.230 |
|
(c) Trade receivables |
|
83.861 |
68.296 |
|
(d) Cash and cash equivalents |
|
3.983 |
4.061 |
|
(e) Short-term loans and
advances |
|
2.095 |
2.564 |
|
(f) Other current assets |
|
0.243 |
0.192 |
|
Total Current Assets |
|
126.837 |
120.343 |
|
|
|
|
|
|
TOTAL |
|
181.893 |
174.701 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
32.000 |
|
|
2] Share Application Money |
|
|
12.500 |
|
|
3] Reserves & Surplus |
|
|
15.980 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
60.480 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
24.040 |
|
|
2] Unsecured Loans |
|
|
15.000 |
|
|
TOTAL BORROWING |
|
|
39.040 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.116 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
99.636 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
26.465 |
|
|
Capital work-in-progress |
|
|
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.000 |
|
|
DEFERRED TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
30.492 |
|
|
Sundry Debtors |
|
|
63.741 |
|
|
Cash & Bank Balances |
|
|
4.946 |
|
|
Other Current Assets |
|
|
4.473 |
|
|
Loans & Advances |
|
|
0.000 |
|
Total
Current Assets |
|
|
103.652 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
0.000 |
|
|
Other Current Liabilities |
|
|
29.340 |
|
|
Provisions |
|
|
1.141 |
|
Total
Current Liabilities |
|
|
30.481 |
|
|
Net Current Assets |
|
|
73.171 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
99.636 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
|
|
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL |
NA |
348.119 |
313.098 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
NA |
339.205 |
NA |
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION |
NA |
8.914 |
21.108 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX |
NA |
8.914 |
NA |
|
|
|
|
|
|
|
|
|
Less |
TAX |
NA |
2.753 |
NA |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
AFTER TAX |
2.577 |
6.161 |
13.582 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
0.81 |
1.93 |
NA |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
NA
|
1.77 |
4.34 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
NA
|
NA |
NA |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
NA
|
NA |
NA |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
NA
|
NA |
NA |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.94
|
1.05 |
0.65 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.30
|
1.36 |
3.40 |
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 |
Yes |
|
10] |
Designation of contact
person |
Yes |
|
11] |
Turnover of firm for last
two 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 |
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] |
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 |
·
Current Maturity of Long Term Debt is Not Available
UNSECURED LOANS:
|
Particulars |
31.03.2012 Rs. In Millions |
31.03.2011 Rs. In Millions |
|
Short Term Borrowings |
|
|
|
Loans and Advances from related parties |
|
|
|
From Directors of
the company |
9.404 |
6.904 |
|
From proprietary
concerns of the Directors |
8.358 |
11.096 |
|
|
|
|
|
Total |
17.762 |
17.762 |
INDEX OF CHARGE:
|
Sr. No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
90102298 |
28/04/2012 * |
98,647,000.00 |
DENA BANK |
12,13,14 SAI INDUSTRIAL ESTATE, SILVASSA – 396 230, DADAR NAGAR HAVELI, INDIA |
B39837828 |
|
2 |
90099715 |
06/10/2003 * |
2,000,000.00 |
DENA BANK |
AMLI BRANCH, AMLI ; VIA VAPI, SILVASSA – 396 230, MAHARASHTRA, INDIA |
- |
|
3 |
90098543 |
21/01/2013 * |
98,647,000.00 |
DENA BANK |
12,13,14 SAI INDUSTRIAL ESTATE, SILVASSA – 396 230, DADAR NAGAR HAVELI, INDIA |
B67466094 |
* Date of charge modification
RESULTS:
Subject has earned a net profit of Rs.2.577.000 Millions for above year and
Directors do not recommend any dividend and transfer to reserve. There are no
material changes from the year end to the date of this report which affects the
financial position of the company.
FIXED ASSETS:
·
Leasehold land
·
Staff quarter
·
Building
·
Furniture and fixture
·
Plant and machinery
·
Vehicle
·
Computer
·
Office equipment
·
Weighing scale
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.63.02 |
|
|
1 |
Rs.102.04 |
|
Euro |
1 |
Rs.84.92 |
INFORMATION DETAILS
|
Information Gathered
by : |
JML |
|
|
|
|
Report Prepared
by : |
NKT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
|
|
|
|
TOTAL |
|
30 |
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.