|
Report Date : |
30.10.2013 |
IDENTIFICATION DETAILS
|
Name : |
FEDBANK FINANCIAL SERVICES LIMITED |
|
|
|
|
Registered
Office : |
|
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
17.04.1995 |
|
|
|
|
Com. Reg. No.: |
09-008910 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.1900.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U65910KL1995PLC008910 |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject is engaged in Providing Gold Loan, Loan Against Property, Home
Loan, Car Loan. |
|
|
|
|
No. of Employees
: |
800 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (54) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 7691000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject operates as a subsidiary of Federal Bank Limited. It provides financial products and services. It is well established
and reputed company having a fine track record. Company gets good support
from its holding company. Creditworthiness of the company is good.
Fundamentals are strong. Trade relations are reported to be fair. Business is
active. Payments are reported to be regular and as per commitments. The company can be considered for good 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
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
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
Rising inflation,
fewer employment avenues and dwindling earnings are taking a toll on the
spending capacity in
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.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
A1+ (Short Term Debt) |
|
Rating Explanation |
Very strong degree of safety and lowest
credit risk. |
|
Date |
December 11, 2012 |
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. Amol Deshpande |
|
Designation : |
Treasury Manager |
|
Contact No.: |
91-22-42930799 |
|
Date : |
29.10.2013 |
LOCATIONS
|
Registered Office : |
Federal Towers, Alwaye, Ernakulam – 683101, Kerala, India |
|
Tel. No.: |
91-22-42930700 |
|
Fax No.: |
91-22-26524144 |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
|
|
|
|
Corporate Office : |
C-6, Laxmi Tower, Bandra Kurla Complex, Bandra (East), Mumbai – 400051, Maharashtra, India |
|
Tel. No.: |
91-22-42930799 |
|
|
|
|
Branch : |
The subject has 163 gold loan branches Located at: · Karnataka · Andhra Pradesh · Tamilnadu |
DIRECTORS
As on: 04.06.2013
|
Name : |
Mr. Suresh Muthukrishna Kumar |
|
Designation : |
Director |
|
Address : |
H. H. SH. Hamadan Bin Rashid Villa, 352/26B, Jumeirah Area, N R Arenco
Villas, Villa-05(76), Dubai, UAE |
|
Date of Birth/Age : |
08.07.1950 |
|
Date of Appointment : |
24.08.2007 |
|
DIN No.: |
00494479 |
|
|
|
|
Name : |
Mr. Mohammad Yousuf Khan |
|
Designation : |
Director |
|
Address : |
S-378, Panchsheel Park, New Delhi – 110017, India |
|
Date of Birth/Age : |
24.06.1944 |
|
Date of Appointment : |
13.09.2010 |
|
DIN No.: |
00570339 |
|
|
|
|
Name : |
Mr. Shyam Srinivasan |
|
Designation : |
Director |
|
Address : |
101, Nagarjuna Apartments, 36 Ram N St. T Nagar, Chennai – 600017,
Tamilnadu, India |
|
Date of Birth/Age : |
02.02.1962 |
|
Date of Appointment : |
03.08.2011 |
|
DIN No.: |
02274773 |
|
|
|
|
Name : |
Mr. Sudhir Joshi |
|
Designation : |
Director |
|
Address : |
1705, Tower A, Dosti Elite, Near Sion, Telephone Exchange, Sion, Mumbai
– 400022, Maharashtra, India |
|
Date of Birth/Age : |
27.02.1947 |
|
Date of Appointment : |
04.06.2013 |
|
DIN No.: |
00349597 |
|
|
|
|
Name : |
Prof. Abraham Koshy |
|
Designation : |
Director |
|
Address : |
House – 409, Indian Institute of Management, Vastrapur – 380015,
Gujarat, India |
|
Date of Birth/Age : |
18.01.1953 |
|
Date of Appointment : |
04.06.2013 |
|
DIN No.: |
00471385 |
KEY EXECUTIVES
|
Name : |
Mr. Amol Deshpande |
|
Designation : |
Accounts Manager |
|
|
|
|
Name : |
Mr. Dilip Kr Radheshyam Maloo |
|
Designation : |
Secretary |
|
Address : |
C-106, Gayatri Shivam Co-operative Housing Society Limited, 90 Feet Road,
Near Sai Hospital, Thakur Complex, Kandivali (East), Mumbai - 400101, Maharashtra, India |
|
Date of Birth/Age : |
04.07.1980 |
|
Date of Appointment : |
13.05.2010 |
|
PAN No.: |
AKHPM9725B |
|
|
|
|
Name : |
Mr. Pradosh Kumar Radhamohan Mohapatra |
|
Designation : |
Manager |
|
Address : |
41, Aishwarya Towers, CST Road, Kalina, Santacruz (East), Mumbai –
400098, Maharashtra, India |
|
Date of Birth/Age : |
05.05.1955 |
|
Experience : |
01.10.2011 |
|
PAN No.: |
AENPM6545B |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 04.06.2013
|
Names of Shareholders |
No. of Shares |
|
The Federal Bank Limited, India |
189999595 |
|
Ganapathy Kumar Girish Jointly with The Federal Bank Limited, India |
1 |
|
Joha C P Jointly with The Federal Bank Limited, India |
100 |
|
Jagadeesan S T Jointly with The Federal Bank Limited, India |
1 |
|
Srinivasan Tirunelvelu Shyam Jointly with The Federal Bank Limited,
India |
200 |
|
Varghese I K Jointly with The Federal Bank Limited, India |
1 |
|
Kumar Muthukrishna |
100 |
|
Ashuthosh Khajuria |
1 |
|
Abraham Chacko |
1 |
|
|
|
|
Total |
190000000 |
As on: 04.06.2013
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Nationalised or other banks |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in Providing Gold Loan, Loan Against Property, Home
Loan, Car Loan. |
|
|
|
|
Terms : |
|
|
Selling : |
Cash and Credit |
|
|
|
|
Purchasing : |
Cash and Credit |
GENERAL INFORMATION
|
No. of Employees : |
800 (Approximately) |
||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||
|
Bankers : |
· IDBI Bank Limited, 224 A Mittal Court , A Wing, Nariman Point, Mumbai – 400021, Maharashtra, India · The Federal Bank Limited, Federal Towersp B No 103, Alwaye, Eranakulam – 683101, Kerala, India · Karur Vysya Bank, Bandra (West), Mumbai, Maharashtra, India |
||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||
|
Facilities : |
NOTE: The above facilities are secured by way of hypothecation on Gold Loan
Receivables. |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Varma and Varma Chartered Accountants |
|
Address : |
Sriniketan, Nettipadam Road, P B No.2350, Kochi – 682016, Kerala,
India |
|
PAN No. : |
AABFV9555E |
|
|
|
|
Holding Company : |
The Federal Bank Limited CIN No.:
L65191KL1931PLC000368 |
CAPITAL STRUCTURE
As on: 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
190000000 |
Equity Shares |
Rs.10/- each |
Rs. 1900.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
190000000 |
Equity Shares |
Rs.10/- each |
Rs.1900.000 Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
1900.000 |
1900.000 |
350.000 |
|
(b) Reserves & Surplus |
22.940 |
(35.653) |
38.094 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
1922.940 |
1864.347 |
388.094 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
2.526 |
1.217 |
1.598 |
|
Total Non-current Liabilities (3) |
2.526 |
1.217 |
1.598 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term
borrowings |
2800.245 |
1596.039 |
0.000 |
|
(b) Trade payables |
51.539 |
26.892 |
21.751 |
|
(c) Other current
liabilities |
35.134 |
55.737 |
49.771 |
|
(d) Short-term provisions |
117.623 |
26.678 |
0.672 |
|
Total Current Liabilities (4) |
3004.541 |
1705.346 |
72.194 |
|
|
|
|
|
|
TOTAL |
4930.007 |
3570.910 |
461.886 |
|
|
|
|
|
|
II. ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
124.950 |
106.900 |
30.356 |
|
(ii) Intangible Assets |
21.100 |
2.051 |
0.668 |
|
(iii) Capital
work-in-progress |
0.000 |
24.508 |
9.149 |
|
(iv)
Intangible assets under development |
2.739 |
12.510 |
0.000 |
|
(b) Non-current Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
11.887 |
0.000 |
0.853 |
|
(d) Long-term Loan and Advances |
95.085 |
56.561 |
32.212 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
255.761 |
202.530 |
73.238 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
0.000 |
0.000 |
0.000 |
|
(c) Trade receivables |
7.981 |
10.734 |
26.054 |
|
(d) Cash and cash
equivalents |
102.358 |
82.130 |
275.895 |
|
(e) Short-term loans
and advances |
4560.025 |
3267.568 |
70.438 |
|
(f) Other current
assets |
3.882 |
7.948 |
16.261 |
|
Total Current Assets |
4674.246 |
3368.380 |
388.648 |
|
|
|
|
|
|
TOTAL |
4930.007 |
3570.910 |
461.886 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
0.884 |
0.376 |
145.556 |
|
|
|
Other Income |
0.003 |
0.001 |
9.600 |
|
|
|
TOTAL |
0.887 |
0.377 |
155.156 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Employee Benefit Expenses |
0.213 |
0.156 |
52.726 |
|
|
|
Other Expenses |
0.242 |
0.170 |
79.334 |
|
|
|
TOTAL |
0.455 |
0.326 |
132.060 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
0.432 |
0.051 |
25.096 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
0.213 |
0.103 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
0.219 |
(0.052) |
25.096 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
0.038 |
0.021 |
2.277 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX |
0.181 |
(0.073) |
22.819 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
0.040 |
0.001 |
8.936 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
AFTER TAX |
0.141 |
(0.074) |
13.883 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
NA |
28.211 |
17.105 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
NA |
NA |
2.777 |
|
|
BALANCE CARRIED
TO THE B/S |
NA |
NA |
28.211 |
|
|
|
|
|
|
|
|
|
|
Earnings Per Share
(Rs.) |
0.74 |
(1.12) |
0.85 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
15.89
|
(19.63) |
8.95 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
20.40
|
(19.41) |
15.68 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.00
|
0.00 |
5.05 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.00
|
(0.00) |
0.06 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
1.46
|
0.86 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.43
|
1.97 |
5.38 |
LOCAL AGENCY FURTHER INFORMATION
NOTE:
Current Maturities
of Long Term Borrowing are 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 |
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/ Two years |
Yes |
|
12] |
Profitability
for last three/ Two 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 |
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 |
Yes |
INDEX CHARGES:
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10389807 |
20/11/2012 |
250,000,000.00 |
THE KARUR VYSYA BANK LIMITED |
Central Loan Processing Cell Mumbai,, Kamanwala
Chamber, Fort, Mumbai, Maharashtra - 400001, INDIA |
B63267512 |
|
2 |
10349100 |
29/03/2012 |
500,000,000.00 |
IDBI Bank Limited |
224 A Mittal Court , A Wing, Nariman Point, MUMBAI, Maharashtra -
400021, INDIA |
B37382561 |
|
3 |
10290646 |
07/09/2013 * |
2,000,000,000.00 |
THE FEDERAL BANK LTD |
FEDERAL TOWERSP B NO 103, ALWAYE, ERANAKULAM, Kerala - 683101, INDIA |
B85936615 |
* Date of charge modification
FIXED ASSETS:
TANGIBLE ASSETS
·
Leasehold Improvement
·
Furniture and Fixture
·
Vehicles – Cars
·
Office Equipments
·
Computers
INTANGIBLE ASSETS
·
Computer Software
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.61.46 |
|
|
1 |
Rs.98.99 |
|
Euro |
1 |
Rs.84.74 |
INFORMATION DETAILS
|
Information Gathered
by : |
PDT |
|
|
|
|
Report Prepared
by : |
ANK |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--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 |
|
54 |
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.