MIRA INFORM REPORT
|
Report Date : |
14.09.2013 |
IDENTIFICATION DETAILS
|
Name : |
SOMNATH CRAFT MILL PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
S. No. 50/2p1, Near Sofine Paper, Taluka Morbi, Village Lakhdhirnagar,
District Rajkot – 363641, Gujarat |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
29.06.2010 |
|
|
|
|
Com. Reg. No.: |
04-061348 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.33.800 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U21020GJ2010PTC061348 |
|
|
|
|
TIN No.: |
24092006809 |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAOCS4269C |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Paper, Craft Paper and Paper Products. |
|
|
|
|
No. of Employees
: |
150 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (42) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 150000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track record. 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
We are living in a world
where volatility and uncertainty have become the New Normal. We saw a
change of government in countries like Tunisia, Egypt, Libya and Vietnam. Once
powerful countries in Europe are now fighting for bankruptcy. We have
taken growth in the developing part of the world for granted but economic
growth in China and India has begun to slow. Companies that were synonymous
with their product categories just a few years ago are now no longer in
existence. Kodak, the inventor of the digital camera had to wind up its
operations, HMV, the British entertainment retailing company and Borders, once
the second largest bookstore have shut down due to their inability to evolve
their business models with the changing time. Readers’ Digest, Thomson Register
are no more !
There is another
megatrend happening. The World order is changing as economic power shifts from
West to East. According to McKinsey study, it took Britain more than 100 years
to double its economic output per person during its industrial revolution and the
US later took more than 50 years to do the same. More than a century later,
China and India have doubled their GDP per capital in 12 and 18 years
respectively. By 2020, emerging Asia will become the world’s largest consuming
block, overtaking North America.
The years after the
outbreak of the global financial crisis, the world economy continues to remain
fragile. The Indian economy demonstrated remarkable resilience in the initial
years of the contagion but finally lost ground last year. GDP growth slowed
down. Currency has been weakening. There is a marked deceleration in
agriculture, industry and services. Dampening sentiment led to a cut-back in
investment as well as private consumption expenditure. Inflation remained
at high levels fuelled by the pressure from the food and fuel sectors. The
large fiscal and current account deficit s continued to cause grave concern. It
is imperative that India regains its growth trajectory of 8-9 % sooner than
later. This is crucially important given the need to create gainful livelihood
opportunities for the millions living in poverty as also the large contingent
of young people joining the job market every year.
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. Hirenkumar Maganlal Agola |
|
Designation : |
Director |
|
Contact No.: |
91-9825373002 |
|
Date : |
11.09.2013 |
LOCATIONS
|
Registered Office : |
S. No. 50/2p1, Near Sofine Paper, Taluka Morbi, Village Lakhdhirnagar,
District Rajkot – 363641, Gujarat, India |
|
Tel. No.: |
91-2822-284814 |
|
Mobile No.: |
91-9825373002 (Mr. Hirenkumar Maganlal Agola) |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Location : |
Owned |
|
|
|
|
Factory : |
Navagam Road, A.T., Lilaper, Morbi, Rajkot – 363641, Gujarat, India |
DIRECTORS
As on: 29.09.2012
|
Name : |
Mr. Maganlal Bhurabhai Patel |
|
Designation : |
Director |
|
Address : |
81, Jay Somnath, 3A, Shubhas Nagar, Ravapar Road, Morbi, Rajkot –
363641, Gujarat, India |
|
Date of Birth/Age : |
29.02.1952 |
|
Date of Appointment : |
29.06.2010 |
|
DIN No.: |
00805293 |
|
|
|
|
Name : |
Mr. Hirenkumar Maganlal Agola |
|
Designation : |
Director |
|
Address : |
81, Jay Somnath, 3A, Shubhas Nagar, Ravapar Road, Morbi, Rajkot –
363641, Gujarat, India |
|
Date of Birth/Age : |
04.12.1982 |
|
Date of Appointment : |
29.06.2010 |
|
DIN No.: |
03114153 |
|
|
|
|
Name : |
Mr. Ramniklal Keshavjibhai Detroja |
|
Designation : |
Director |
|
Address : |
Somnath Society, B/H Sardar Baugh, Morbi, Rajkot – 363641, Gujarat,
India |
|
Date of Birth/Age : |
25.07.1977 |
|
Date of Appointment : |
29.06.2010 |
|
DIN No.: |
03114164 |
|
|
|
|
Name : |
Mr. Dhirajlal Lakhmanbhai Patel |
|
Designation : |
Director |
|
Address : |
Darpan Society, 3 Plot No.: 4/5, Panchvati Society, Ravapar Road,
Morbi, Rajkot – 363641, Gujarat, India |
|
Date of Birth/Age : |
24.10.1971 |
|
Date of Appointment : |
29.06.2010 |
|
DIN No.: |
03114167 |
|
|
|
|
Name : |
Mr. Bhavin Karamshibhai Aghara |
|
Designation : |
Director |
|
Address : |
Matru Krupa, Anupam Society, Najarbag Road, Morbi, Rajkot – 363641,
Gujarat, India |
|
Date of Birth/Age : |
21.04.1992 |
|
Date of Appointment : |
27.08.2011 |
|
DIN No.: |
03619514 |
KEY EXECUTIVES
|
Name : |
Dhara Patel |
|
Designation : |
Company Secretary |
|
Address : |
31, Raj Tower, Satadhar Cross Road, Sola Road, Ahmedabad - 380061,
Gujarat, India |
|
Mobile No.: |
91-9687416858 |
MAJOR SHAREHOLDERS
As on: 29.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
Hirenkumar Maganlal Agola |
|
346700 |
|
Ramniklal Keshavjibhai Detroja |
|
393400 |
|
Dhirajlal Lakhmanbhai Patel |
|
200000 |
|
Pritiben Divyeshbhai Marvania |
|
491900 |
|
Maganlal Bhurabhai Agola |
|
170000 |
|
Varshaben Bipinkumar Zalariya |
|
187000 |
|
Chetnaben Hirenbhai Agola |
|
142200 |
|
Anilbhai Laxmanbhai Ransariya |
|
200000 |
|
Artiben Vishalbhai Marvaniya |
|
16000 |
|
Bhavinbhai Karamshibhai Aghara |
|
350000 |
|
Dhanjibhai Sunderjibhai Adroja |
|
40000 |
|
Dhanjibhai Sunderjibhai Adroja -HUF |
|
19300 |
|
Jalpaben Raieshbhai Detroit |
|
240000 |
|
Karamshibhai Gandubhai Aghara |
|
80000 |
|
Keshavjlbhai Sunderjibhai Detroja |
|
120000 |
|
Maganlal Bhurabhai Agola-HUF |
|
31000 |
|
Meeraben Kapirbhai Aghara |
|
130000 |
|
Minta Ramniklal Detroja |
|
20000 |
|
Nirmalaben Maganbhai Agola |
|
168500 |
|
Rajesh Keshavjibhai Detroja |
|
20000 |
|
Vishalbhai Rameshbhai Marvania |
|
14000 |
|
Total |
|
3380000 |
As on: 19.10.2012
|
Names of Allottees |
|
No. of Shares |
|
Maganbhai Bhurabhai Agola |
|
60000 |
|
Hirenkumar Magan Lal Agola |
|
60000 |
|
Rammlklal Keshavjibhai Detroja |
|
80000 |
|
Varshaben Bipinbhai Zalapjya |
|
35000 |
|
Dhlrajlal Laxmanbhal Ransariya |
|
95000 |
|
Kapil Karamshibhai Aghara (HUF) |
|
25000 |
|
Karamshibhai Gandubhai Aghara (HUF) |
|
15000 |
|
Total |
|
370000 |
Equity Share Break up (Percentage of Total Equity)
As on: 29.09.2012
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Paper, Craft Paper and Paper Products. |
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Exports : |
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|
Products : |
Paper Craft |
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Countries : |
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Terms : |
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Selling : |
Cash and Credit |
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Purchasing : |
Cash and Credit |
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
Wholesalers and Retailers
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No. of Employees : |
150 (Approximately) |
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Bankers : |
Small Industries Development Bank of India, 1st Floor, Nirmal, 7, Ramkrushna Nagar Corner, Opposite Commissioner Bunglow, Off. Yagnik Road, Rajkot - 360005, Gujarat, India |
|||||||||||||||||||||
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Facilities : |
(Rs.
In Millions)
|
|||||||||||||||||||||
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|
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|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Mr. Nanalal P. Hadial Chartered Accountants |
|
Address : |
Shakti Comlex, 1st Floor, Near Dr. Rupala Hospital, 16, Savsar Plot,
Morbi - 363641, Gujarat, India |
|
PAN No.: |
AAHPH2014C |
CAPITAL STRUCTURE
After: 29.09.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3800000 |
Equity Shares |
Rs.10/- each |
Rs.38.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3750000 |
Equity Shares |
Rs.10/- each |
Rs.37.500
Millions |
|
|
|
|
|
As on: 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3500000 |
Equity Shares |
Rs.10/- each |
Rs.35.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3380000 |
Equity Shares |
Rs.10/- each |
Rs.33.800
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 |
|
33.800 |
33.800 |
|
(b) Reserves & Surplus |
|
4.989 |
0.000 |
|
(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) |
|
38.789 |
33.800 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
60.366 |
47.298 |
|
(b) Deferred tax liabilities (Net) |
|
0.251 |
0.000 |
|
(c) Other long term
liabilities |
|
0.000 |
0.000 |
|
(d) long-term
provisions |
|
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
|
60.617 |
47.298 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
|
22.863 |
0.000 |
|
(b) Trade
payables |
|
37.541 |
7.471 |
|
(c) Other
current liabilities |
|
7.428 |
1.055 |
|
(d) Short-term
provisions |
|
9.518 |
0.455 |
|
Total Current
Liabilities (4) |
|
77.350 |
8.981 |
|
|
|
|
|
|
TOTAL |
|
176.756 |
90.079 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
|
68.083 |
75.131 |
|
(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 |
|
0.000 |
0.000 |
|
(e) Other
Non-current assets |
|
3.401 |
3.408 |
|
Total Non-Current
Assets |
|
71.484 |
78.539 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
|
0.000 |
0.000 |
|
(b)
Inventories |
|
38.196 |
0.867 |
|
(c) Trade
receivables |
|
60.826 |
0.000 |
|
(d) Cash
and cash equivalents |
|
2.805 |
3.279 |
|
(e)
Short-term loans and advances |
|
1.744 |
0.423 |
|
(f) Other
current assets |
|
1.701 |
6.971 |
|
Total
Current Assets |
|
105.272 |
11.540 |
|
|
|
|
|
|
TOTAL |
|
176.756 |
90.079 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
360.144 |
0.000 |
|
|
|
Other Income |
|
0.204 |
0.000 |
|
|
|
TOTAL |
|
360.348 |
0.000 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
0.000 |
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL
|
|
342.933 |
0.000 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
|
17.415 |
0.000 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
|
10.175 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
|
7.240 |
0.000 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
|
2.251 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
|
4.989 |
0.000 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
|
1.48 |
0.00 |
|
KEY RATIOS
|
PARTICULARS |
|
|
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
|
1.38 |
0.00 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
|
2.01 |
0.00 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
|
4.10 |
0.00 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
|
0.19 |
0.00 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
|
2.15 |
1.40 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
|
1.36 |
1.28 |
LOCAL AGENCY FURTHER INFORMATION
DETAILS OF CURRENT
MATURITIES OF LONG-TERM DEBT: 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 two years |
Yes |
|
12] |
Profitability for last 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 |
No |
|
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 |
No |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
No |
COMPANY'S
PERFORMANCE:
The Company has earned Profit of Rs. 4.989 Millions on a total income of Rs. 360.348 Millions during the year. In order to conserve the reserve, the directors do act recommend any dividend for the financial year ended, March 31, 2012.
UNSECURED LOAN:
(Rs.
in Millions)
|
Particulars |
As
on 31.03.2012 |
As
on 31.03.2011 |
|
LONG TERM
BORROWINGS |
|
|
|
Loans and Advances
From Related Parties |
|
|
|
From Directors |
4.727 |
0.452 |
|
From Others |
6.960 |
2.757 |
|
Total |
11.687 |
3.209 |
|
NOTES:
|
||
INDEX OF CHARGES
|
S. No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10257521 |
10/10/2012 * |
124,000,000.00 |
Small Industries Development Bank of India |
1st Floor, Nirmal, 7, Ramkrushna Nagar Corner, Opposite |
B60179132 |
* Date of charge modification
FIXED ASSETS:
- Factory Land
- Factory Building
- Machinery Other Machinery
- Computer
- Loader
- 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.63.79 |
|
|
1 |
Rs.100.70 |
|
Euro |
1 |
Rs.84.67 |
INFORMATION DETAILS
|
Information
Gathered by : |
NYA |
|
|
|
|
Report Prepared
by : |
RAJ |
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 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--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 |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
42 |
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.