|
Report Date : |
27.11.2013 |
IDENTIFICATION DETAILS
|
Name : |
JHAVERI FLEXO INDIA LIMITED (w.e.f 11.09.2006) |
|
|
|
|
Formerly Known
As : |
FLEXO FILM WRAPS (INDIA) LIMITED |
|
|
|
|
Registered
Office : |
Gut No. 74, Farola, Paithan Road, Aurangabad – 431105, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
16.04.1985 |
|
|
|
|
Com. Reg. No.: |
11-035938 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 153.063 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U25209MH1985PLC035938 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
NKSF00196A |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACF4037F |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Laminate, PPC Films, Stretch Films, etc. |
|
|
|
|
No. of Employees
: |
700 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (46) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 3300000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track record. Trade relation are 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.
ECGC Country Risk Classification List – March 31st, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
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
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
|
Name : |
Mr. Anil Somani |
|
Designation : |
Vice President Finance |
|
Contact No.: |
91-9423147915 |
|
Date : |
25.11.2013 |
LOCATIONS
|
Registered Office/ Factory 1 : |
Gut No. 74, Farola, Paithan Road, Aurangabad – 431105, Maharashtra,
India |
|
Tel. No.: |
91-2431-251663/ 664 |
|
Mobile No.: |
91-9423147915 (Mr. Anil Somani) |
|
Fax No.: |
91-2431-251661 |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
|
|
|
|
Head Office / Corporate Office : |
9th and 10th Floor, Gold Crest, 10th Road, J.V.P.D Scheme, Near HSBC
Bank, Vile Parle (West), Mumbai – 400049, Maharashtra, India |
|
Tel. No.: |
91-22-61512121 |
|
E-Mail : |
|
|
|
|
|
Factory 2: |
Dapada, Silvassa
Factory Survey No. 135/2, Village Dapada, Khanvel Road, Silvassa – 396 230.
U.T. OF D.N.H. |
|
Tel No.: |
91-260-2699084/ 184 |
|
|
|
|
Factory 3: |
Luhari, Silvassa
Factory 188/2/1, Village Luhari, Opposite Govt Tourism Resort, Silvassa – 396
230, U.T OF D.N.H. |
|
Tel No.: |
91-2602993437 |
|
|
|
|
Indian Sales Offices : |
Located at: ·
Mumbai ·
Chennai ·
Delhi ·
Aurangabad ·
Hyderabad ·
Bangalore ·
Kolkata |
DIRECTORS
As on: 30.12.2011
|
Name : |
Mr. Rajul Sandeep Jhaveri |
|
Designation : |
Director |
|
Address : |
Plot No. 12, Nutan Laxmi Society, Crest Building, 6th
Floor, JVPD Scheme, 9th (N-S) Road, Vile Parle, Mumbai – 400049,
Maharashtra, India |
|
Date of Birth/Age : |
15.12.1960 |
|
Date of Appointment : |
10.09.2005 |
|
PAN No.: |
ABKPJ5415D |
|
DIN No.: |
00093998 |
|
|
|
|
Name : |
Mr. Sandeep Jhaveri |
|
Designation : |
Director |
|
Address : |
Plot No. 12, Nutan Laxmi Society, Crest Building, 6th
Floor, JVPD Scheme, 9th (N-S) Road, Vile Parle, Mumbai – 400049,
Maharashtra, India |
|
Date of Birth/Age : |
07.10.1959 |
|
Date of Appointment : |
19.10.2006 |
|
PAN No.: |
AATPJ3903A |
|
DIN No.: |
00080518 |
|
|
|
|
Name : |
Mr. Krishna Kumar Sadani |
|
Designation : |
Managing Director |
|
Address : |
C-5/10, CIDCO Town Centre, CIDCO Aurangabad – 431003, Maharashtra,
India |
|
Date of Birth/Age : |
25.09.1962 |
|
Date of Appointment : |
26.08.1998 |
|
DIN No.: |
00060326 |
|
|
|
|
Name : |
Mr. Dinesh Chandra Shah |
|
Designation : |
Director |
|
Address : |
161-A, Kalpataru Residency, 16th Floor, Tower – A, Sion
(East), Mumbai – 400022, Maharashtra, India |
|
Date of Birth/Age : |
08.10.1957 |
|
Date of Appointment : |
30.07.2005 |
|
DIN No.: |
00298463 |
|
|
|
|
Name : |
Mr. Abhishek Suketu Jhaveri |
|
Designation : |
Whole time Director |
|
Address : |
4th Floor, 42, Neelamber Building, 37, Peddar Road, Mumbai
– 400026, Maharashtra, India |
|
Date of Birth/Age : |
09.01.1986 |
|
Date of Appointment : |
19.05.2008 |
|
PAN No.: |
AFEPJ1695R |
|
DIN No.: |
02293226 |
|
|
|
|
Name : |
Mr. Marunal S Jhaveri |
|
Designation : |
Whole time Director |
|
Address : |
Plot No. 12, Nutan Laxmi Society, Crest Building, 6th
Floor, JVPD Scheme, 9th (N-S) Road, Vile Parle, Mumbai – 400049,
Maharashtra, India |
|
Date of Birth/Age : |
29.10.1985 |
|
Date of Appointment : |
29.10.2009 |
|
PAN No.: |
AEZPJ0790D |
|
DIN No.: |
02350001 |
KEY EXECUTIVES
|
Name : |
Mr. Ashish Gupta |
|
Designation : |
Secretary |
|
Address : |
Flat No.1, Ground Floor, Nirala Apartment, Near Mariya Hospital, Basilal
Naagr, Aurangabad – 431005, Maharashtra, India |
|
Date of Birth/Age : |
04.03.1976 |
|
Date of Appointment : |
01.09.2004 |
|
PAN No.: |
AJDPG8507C |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 30.12.2011
|
Names of Shareholders |
|
No. of Shares |
|
Promoters |
|
|
|
-
Indian Promoters |
18867948 |
74.99% |
|
-
Foreign Promoters |
0 |
0% |
|
Mutual Funds and UTI |
50000 |
0.20% |
|
Banks, Financial Institutions, Insurance companies (Central/ State Government/
No-Government Institutions) |
18400 |
0.07% |
|
FIIs |
0 |
0% |
|
Private Corporate Bodies |
2243002 |
8.91% |
|
Indian Public |
2901028 |
11.53% |
|
NRIs/ OCBs |
1080261 |
4.30% |
|
Any Others |
0 |
0% |
|
Total |
25160639 |
100.00% |
Equity Share Break up (Percentage of Total Equity)
As on: 30.12.2011
|
Category |
|
Percentage |
|
|
|
|
|
Government [Central and State] |
|
0.01 |
|
Public financial companies |
|
0.05 |
|
Nationalised or other banks |
|
0.01 |
|
Mutual funds |
|
0.20 |
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
0.97 |
|
Bodies corporate |
|
18.92 |
|
Directors or relatives of directors |
|
60.03 |
|
Other top fifty shareholders |
|
16.80 |
|
Others |
|
3.01 |
|
|
|
|
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Laminate, PPC Films, Stretch Films, etc. |
|
|
|
|
Exports : |
|
|
Products : |
·
Laminate Films ·
Stretch Films |
|
Countries : |
·
UK ·
USA ·
Saudi Arabia |
|
|
|
|
Imports : |
|
|
Products : |
·
LDP ·
LLOP ·
Granules ·
Co Polymers |
|
Countries : |
·
Singapore ·
Hong Kong ·
Thailand |
|
|
|
|
Terms : |
|
|
Selling : |
L/C and Credit (60 days) |
|
|
|
|
Purchasing : |
L/C and Credit (30 days) |
PRODUCTION STATUS (AS ON 31.03.2011)
|
Particulars |
|
Installed
Capacity |
|
Farola Unit |
|
12420 Mt |
|
Dapada Unit |
|
12000 Mt |
|
Luhari Unit |
|
7500 Mt |
|
Particulars |
Unit |
Actual
Production |
|
PVC Film |
Rolls |
1346853 |
|
Masking Film |
Kg. |
832635 |
|
Stretch Film |
Kg. |
1257548 |
|
Lamination Film |
Kg. |
2149689 |
|
CPP Film |
Kg. |
2546167 |
|
Laminates |
Kg. |
8713501 |
GENERAL INFORMATION
|
Suppliers : |
Reliance India Limited |
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Customers : |
Manufacturer · Britannia · Cadbury · GULF · Cargill · Dabur · Indian Oil · ITC Limited · JSW · Nestle · Hindustan Unilever Limited · Videocon · General Mills · Tata Chemicals ·
PepsiCo |
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
No. of Employees : |
700 (Approximately) |
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Bankers : |
The Saraswat Co-operative Bank, CIDCO Branch, Aurangabad, India |
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Facilities : |
Fund base: Rs. 300.000 Millions (From The
Saraswat Co-operative Bank) Non Fund base: Rs. 300.000 Millions (From The
Saraswat Co-operative Bank) (Rs.
In Millions)
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Bhatter and Company Chartered Accountants |
|
Address : |
307, Tulsiani Cha,ber, Nariman Point, Mumbai – 400021, Maharashtra,
India |
|
PAN No.: |
AACPB2705R |
|
|
|
|
Associates : |
· Wellworth Industries Limited CIN No.: L21022MH1994PLC170382 · Sangam Press Private Limited CIN No.: U22110MH1947PTC005528 · Mars Fincom Private Limited CIN No.: U51909MH1995PTC197277 · Lathia Rubber Manufacfacturing Co Private Limited CIN No.: U99999MH1969PTC014250 · R.S. Jhaveri and Company · R. S. Jhaveri Steel and Company Private Limited · Alcom Investment Private Limited · Vaishali India Limited · Vaishali Pigments Private Limited |
CAPITAL STRUCTURE
As on: 31.03.2013
Authorised Capital : Rs. 250.000 Millions
Issued, Subscribed & Paid-up Capital : Rs.153.064
Millions
As on: 30.12.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
50000000 |
Equity Shares |
Rs.5/- each |
Rs.250.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
|
|
25160639 |
Equity Shares |
Rs.5/- each |
Rs.125.803
Millions |
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
FINANCIAL
DETAILS FILE ATTACHED
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 |
Yes |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact person |
Yes |
|
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 |
Yes |
|
18] |
Major customers |
Yes |
|
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 |
Yes |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
No |
UNSECURED LOAN
(Rs.
In Millions)
|
Particulars |
As on 31.03.2013 |
As on 31.03.2012 |
|
Long term
borrowings |
|
|
|
Term loans from other parties |
209.711 |
122.664 |
|
Loans and advance from related parties |
25.095 |
270.604 |
|
Sales tax deferral |
84.761 |
80.297 |
|
|
|
|
|
Total |
319.567 |
473.565 |
INDEX OF CHARGE:
|
Sr .No |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10429260
|
26/04/2013
|
30,000,000.00
|
Saraswat
Co- Operative Bank Limited |
CIDCO BRANCH, NEAR CIDCO BUS
STAND, CIDCO, AURANGABAD, Maharashtra - 431003, INDIA |
B76376219
|
|
2 |
10429267
|
26/04/2013
|
30,000,000.00
|
Saraswat
Co- Operative Bank Limited |
CIDCO BRANCH, NEAR CIDCO BUS
STAND, CIDCO, AURANGABAD, Maharashtra - 431003, INDIA |
B76377860
|
|
3 |
10407737
|
07/01/2013
|
99,500,000.00
|
UNITED
BANK OF INDIA |
UNITED BANK OF INDIA BUILDING,
25, SIR PHEROZ SHAH MEHTA ROAD, FORT MUMBAI, Maharashtra - 400001, |
B69506921
|
|
4 |
10388076
|
08/11/2012
|
6,668,000.00
|
The
Saraswat Co-operative Bank LIMITED |
RASEC Borivli West Branch, Shobhana
Apartment, Chandavarkar Road, Borivli West, Mumbai, Maharashtra - 400092,
INDIA |
B62590161
|
|
5 |
10386104
|
09/10/2012
|
875,000.00
|
The
Saraswat Co-operative Bank Limited |
RASEC, Kanchan Chambers, Kranti
Chowk, Kranti Chowk, Aurangabad, Maharashtra - 431005, INDIA |
B61945465
|
|
6 |
10328061
|
13/12/2011
|
1,918,000.00
|
The
Saraswat Co-operative Bank Limited |
RASEC, Kanchan Chambers, Kranti
Chowk, Station Road, Aurangabad, Maharashtra - 431005, INDIA |
B29474186
|
|
7 |
10325325
|
05/12/2011
|
75,000,000.00
|
The
Saraswat Co-Operative Bank Limited |
'Madhu Shilp', Plot No. 6, C/2,
Town Centre, Near CIDCO Bus Stand, CIDCO, Aurangabad, Maharashtra |
B28628576
|
|
8 |
10322013
|
14/11/2011
|
585,000.00
|
The
Saraswat Co-operative Bank Limited |
RASEC, Kanchan Chambers, Kranti
Chowk, Station Road, Aurangabad, Maharashtra - 431005, INDIA |
B27364272
|
|
9 |
10323982
|
06/05/2011
|
96,600,000.00
|
The
Saraswat Co-Operative Bank Limited |
Madhu Shilp, Plot No. 6, Town
Centre, Near CIDCO |
B17674821
|
|
10 |
10283326
|
20/04/2011
|
13,700,000.00
|
Saraswat
Co-Operative Bank Limited |
Madhu Shilp, Plot No. 6, Town Centre,
Near CIDCO Bus Stand, CIDCO, Aurangabad, Maharashtra - 431003, INDIA |
B11148020
|
* Date of modification charge
FIXED ASSETS:
· Land
· Building
· Plant and Machinery
· Furniture and Fixture
· Vehicles
· Trade Mark
· Computer Equipment
· Office Equipment
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. 62.45 |
|
|
1 |
Rs. 100.87 |
|
Euro |
1 |
Rs. 84.51 |
INFORMATION DETAILS
|
Information
Gathered by : |
HNA |
|
|
|
|
Report Prepared
by : |
DPH |
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 |
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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
46 |
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.