MIRA INFORM REPORT
|
Report Date : |
03.04.2014 |
IDENTIFICATION DETAILS
|
Name : |
NETSURF COMMUNICATIONS PRIVATE LIMITED
|
|
|
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Registered
Office : |
Office No. 4 and 5, 2nd and 3rd Floor, Tata
Icon, Pune – Mumbai Road, Pune – 411003, Maharashtra |
|
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|
|
Country : |
India |
|
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|
Financials (as
on) : |
31.03.2013 |
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Date of
Incorporation : |
15.03.2000 |
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Com. Reg. No.: |
11-142615 |
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Capital
Investment / Paid-up Capital : |
Rs.2.500 Millions |
|
|
|
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CIN No.: [Company Identification
No.] |
U72900PN2000PTC142615 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
PNEN01459D |
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|
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PAN No.: [Permanent Account No.] |
AABCN0065A |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Subject is engaged in sale of bio organic products, nutritional food
supplement and personal care products. |
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|
No. of Employees
: |
150 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (47) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 780000 |
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|
Status : |
Satisfactory |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
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Comments : |
Subject is a well-established company having satisfactory track
record. The financial position of the company is decent. Trade relations are reported as fair. Business is active. Payment
terms are usually correct. The company can be considered good 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
India’s current account deficit for the fiscal third quarter ended
September 2013 narrowed to $4.2 billion or 0.9 % of the gross domestic product
from $31.9 billion or 6.5 % of GDP a year earlier, thanks to a pick-up in
exports and moderation in gold imports. Manufacturing activity and new orders
in India showed their strongest growth in a year in February. The news comes as
a relief after data showed Asia’s third largest economy grew by a
slower-than-expected 4.7 % annually in the three months through December. The
HSBC Manufacturing Purchasing Managers’ Index which gauges the business
activity of India’s factories but not its’ utilities, rose to 52.5 in February,
its highest in a year from 51.4 in January. Overall new orders for factory
goods which rose to a one-year high of 54.9 contributed to the surge. China has
emerged as India’s biggest trading partner in the current financial year
replacing the United Arab Emirates and pushing it to the third spot.
India-China trade has reached $49.5 billion with a 8.7 % share in India’s total
trade. The US comes second at $46 billion with 8.1 % share during the first
nine months of the current financial year.
The Reserve Bank of India has granted an additional nine months to the
public to exchange currency notes printed before 2005 including Rs 500 and Rs
1,000 denominations, pushing the deadline to January 1, 2015. A day before
dates for the Lok Sabha polls were announced, the government decided to hike
interest rates on fixed deposit schemes offered by post offices up to 0.2 per
cent. The new rates will be effective April, 1. The Supreme Court will resume
hearing on March, 11 Nokia’s appeal against a ruling over transferring
ownership of its local mobile phones plant which is the subject of a tax
dispute to Microsoft Corp.
In the last days of the current Government, another scam has surfaced.
The defence ministry has ordered a probe into Hindustan Aeronautics Limited’s
contracts from Britain’s Rolls-Royce Holdings worth at least $ 1.2 billion. The
Central Bureau of Investigation will look into allegations that over $80
million was paid in kickbacks in a deal signed in 2011. India has asked Boeing
Co. to find a solution for problems with state-owned Air India’s 787
Dreamliners. The aircraft has experienced a series of malfunctions since its
debut in 2011.
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. Ramchandra |
|
Designation : |
Account Department |
|
Contact No.: |
91-20-25822603 |
|
Date : |
01.04.2014 |
LOCATIONS
|
Registered Office : |
Office No. 4 and 5, 2nd and 3rd Floor, Tata
Icon, Pune – Mumbai Road, Pune – 411003, Maharashtra, India |
|
Tel. No.: |
91-20-25822603/ 25822604 |
|
Fax No.: |
91-20-25822608 |
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E-Mail : |
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|
Website : |
|
|
Location : |
Owned |
DIRECTORS
AS ON 28.09.2013
|
Name : |
Mr. Sanjay G. Malpani |
|
Designation : |
Director |
|
Address : |
1st Floor, Anand-O-Ville, 7th Street, Anand Park,
Pune – 411007, Maharashtra, India |
|
Date of Birth/Age : |
07.03.1964 |
|
Date of Appointment : |
15.03.2000 |
|
DIN No.: |
00901995 |
|
|
|
|
Name : |
Mr. Raj Kamal |
|
Designation : |
Director |
|
Address : |
A/2, Ashoka Triplex, Kalyaninagar, Pune – 411014, Maharashtra, India |
|
Date of Birth/Age : |
28.02.1964 |
|
Date of Appointment : |
15.03.2000 |
|
DIN No.: |
02385402 |
|
|
|
|
Name : |
Mr. Sujit Sohanlal Jain |
|
Designation : |
Director |
|
Address : |
7- New Bazar, Khadaki, Pune – 411033, Maharashtra, India |
|
Date of Birth/Age : |
10.01.1976 |
|
Date of Appointment : |
15.03.2000 |
|
DIN No.: |
01463586 |
KEY EXECUTIVES
|
Name : |
Mr. Ramchandra |
|
Designation : |
Account Department |
MAJOR SHAREHOLDERS
AS ON 28.09.2013
|
Names of Shareholders |
No. of Shares |
|
Sanjay G. Malpani |
23100 |
|
Sujit Jain |
90100 |
|
Dhanesh Mehta |
7500 |
|
Radhamohan J. Lakhotia |
10000 |
|
Sanyukta Ganjwala jointly with Ramesh Ganjwala |
2000 |
|
Ramesh Ganjwala jointly with Sanyukta Ganjwala |
2000 |
|
Nilesh Ganjwala jointly with Rupa Ganjwala |
2000 |
|
Rupa Ganjwala jointly with Nilesh Ganjwala |
2000 |
|
Vinit Ganjwala jointly with Mona Ganjwala |
2000 |
|
Mona Ganjwala jointly with Vinit Ganjwala |
2000 |
|
Sachin Shah |
15000 |
|
Sapan Agarwal |
12500 |
|
Saroj Malpani |
24500 |
|
Gomukhi Properties Services Private Limited, India |
5000 |
|
Mahesh Bajaj |
5000 |
|
Sanjay Knit Private Limited, India |
10000 |
|
Papita Jain |
7500 |
|
Rajkamal B. Verma |
1450 |
|
Rashmi Verma |
5000 |
|
Surekha Kinkar |
6350 |
|
Heena D. Mehta |
7500 |
|
Aashana Jain represented by Sujit Jain |
2500 |
|
Amita Jain |
2500 |
|
Gaurav Jain represented by Sujit Jain |
2500 |
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|
|
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Total
|
250000 |
Equity Share Break up (Percentage of Total Equity)
AS ON 28.09.2013
|
Category |
Percentage |
|
Bodies corporate |
6.00 |
|
Directors or relatives of Directors |
60.66 |
|
Other top fifty shareholders |
33.34 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in sale of bio organic products, nutritional food
supplement and personal care products. |
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Terms : |
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Selling : |
Cash and Credit |
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Purchasing : |
Cash and Credit |
GENERAL INFORMATION
|
Customers : |
Wholesalers, End Users and Retailers |
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No. of Employees : |
150 (Approximately) |
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Bankers : |
IDBI Bank, Pune, Maharashtra, India |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
|
|
Name : |
M. M. Nissim and Company Chartered Accountants |
|
Address : |
Barodawala Mansion, B-Wing, 3rd Floor, 81, Dr. Annie Besant
Road, Worli Mumbai – 400018, Maharashtra, India |
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Tel. No.: |
91-22-24949991 |
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Fax No.: |
91-22-24949995 |
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PAN No.: |
AAAFM5103E |
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Enterprises in
which KMP's are able to Exercise significant Influence : |
· Netsurf Research Labs Private Limited.(Formely known as Netone Technologies Private Limited · Maverick Mobile solutions Private Limited · Shades Lifestyle (India) Private Limited · Acumen Advertising Private Limited · Sanjay Knit Private Limited · Jade Securities Private Limited |
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|
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Sister Concern : |
Netsurf Research Labs Private Limited |
CAPITAL STRUCTURE
AS ON 28.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
250000 |
Equity Shares |
Rs.10/- each |
Rs.2.500 Millions |
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|
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|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
250000 |
Equity Shares |
Rs.10/- each |
Rs.2.500 Millions |
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|
|
|
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 |
2.500 |
2.500 |
2.500 |
|
(b) Reserves & Surplus |
193.060 |
169.081 |
131.659 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
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|
|
|
|
|
(2) Share Application money pending
allotment |
0.000 |
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
195.560 |
171.581 |
134.159 |
|
|
|
|
|
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(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
1.011 |
1.484 |
2.542 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
6.411 |
24.313 |
17.096 |
|
(d) long-term
provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
7.422 |
25.797 |
19.638 |
|
|
|
|
|
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(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
0.000 |
0.000 |
5.103 |
|
(b) Trade
payables |
36.614 |
18.152 |
21.461 |
|
(c) Other current
liabilities |
83.203 |
72.506 |
118.741 |
|
(d) Short-term
provisions |
3.135 |
3.197 |
2.620 |
|
Total Current
Liabilities (4) |
122.952 |
93.855 |
147.925 |
|
|
|
|
|
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TOTAL |
325.934 |
291.233 |
301.722 |
|
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II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
13.601 |
13.125 |
12.627 |
|
(ii)
Intangible Assets |
9.965 |
0.000 |
0.153 |
|
(iii)
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
8.921 |
8.921 |
8.921 |
|
(c) Deferred tax assets (net) |
2.168 |
1.831 |
1.401 |
|
(d) Long-term Loan and Advances |
37.855 |
47.336 |
43.930 |
|
(e) Other Non-current
assets |
3.053 |
1.916 |
1.448 |
|
Total Non-Current
Assets |
75.563 |
73.129 |
68.480 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
22.000 |
0.000 |
0.000 |
|
(b)
Inventories |
72.247 |
21.471 |
20.655 |
|
(c) Trade
receivables |
28.729 |
31.622 |
32.742 |
|
(d) Cash
and cash equivalents |
41.409 |
86.167 |
62.932 |
|
(e)
Short-term loans and advances |
80.652 |
73.879 |
85.313 |
|
(f) Other
current assets |
5.334 |
4.965 |
31.600 |
|
Total
Current Assets |
250.371 |
218.104 |
233.242 |
|
|
|
|
|
|
TOTAL |
325.934 |
291.233 |
301.722 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
||
|
|
SALES |
|
|
|
||
|
|
|
Gross Income |
700.056 |
669.425 |
612.001 |
|
|
|
|
Other Income |
NA |
NA |
NA |
|
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
||
|
Less |
EXPENSES |
|
|
|
||
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION |
48.421 |
65.578 |
42.538 |
||
|
|
|
|
|
|
||
|
Less |
DEPRECIATION/
AMORTISATION |
8.815 |
4.180 |
4.381 |
||
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS)
BEFORE TAX |
39.606 |
61.398 |
38.157 |
||
|
|
|
|
|
|
||
|
Less |
TAX |
12.702 |
21.070 |
12.992 |
||
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS)
AFTER TAX |
26.904 |
40.328 |
25.165 |
||
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|
|
|
|
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||
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
146.577 |
111.655 |
91.322 |
||
|
|
|
|
|
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||
|
Less |
APPROPRIATIONS |
|
|
|
||
|
|
|
Transfer to General Reserve |
3.000 |
2.500 |
2.500 |
|
|
|
|
Dividend |
2.500 |
2.500 |
2.000 |
|
|
|
|
Tax on Dividend |
0.425 |
0.406 |
0.332 |
|
|
|
BALANCE CARRIED
TO THE B/S |
167.556 |
146.577 |
111.655 |
||
|
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|
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||
|
|
Earnings Per
Share (Rs.) |
107.62 |
NA |
NA |
||
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
Return on Total Assets (PBT/Total Assets} |
(%) |
12.58 |
21.89 |
13.09 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.20 |
0.36 |
0.28 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.01 |
0.01 |
0.06 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.04 |
2.32 |
1.58 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
Rs.
In Millions |
Rs.
In Millions |
Rs.
In Millions |
|
Share Capital |
2.500 |
2.500 |
2.500 |
|
Reserves & Surplus |
131.659 |
169.081 |
193.060 |
|
Net
worth |
134.159 |
171.581 |
195.560 |
|
|
|
|
|
|
long-term borrowings |
2.542 |
1.484 |
1.011 |
|
Short term borrowings |
5.103 |
0.000 |
0.000 |
|
Total
borrowings |
7.645 |
1.484 |
1.011 |
|
Debt/Equity
ratio |
0.057 |
0.009 |
0.005 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
Rs.
In Millions |
Rs.
In Millions |
Rs.
In Millions |
|
Gross Income |
612.001 |
669.425 |
700.056 |
|
|
|
9.383 |
4.576 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
Rs.
In Millions |
Rs.
In Millions |
Rs.
In Millions |
|
Gross
Income |
612.001 |
669.425 |
700.056 |
|
Profit |
25.165 |
40.328 |
26.904 |
|
|
4.11% |
6.02% |
3.84% |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITY
OF LONG TERM DEBT:
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
|
|
|
Current Maturity of Long Term Debt |
0.475 |
2.943 |
4.280 |
|
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 |
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 |
No |
Note:
The Registered Office of the company has been shifted from 405,
Panchsheel Condominimc Road, Marine Drive, Churchgate, Mumbai – 400020,
Maharashtra India to the present address w.e.f. 30.01.2012
OPERATIONS AND
PERFORMANCE:
At the end of March, 13 have 15,50,000
strong and satisfied customer base in various states including Gujarat, Karnataka,
Andhra Pradesh, Madhya Pradesh, Rajasthan, Chhattisgarh and Maharashtra. During
the year the sales performance of the biofit range of products and nutritional food supplement was satisfactory. As a
part of Brand building and business promotion activities the company has been
organizing seminars, conferences, musical performances and sport recreation
events.
NO CHARGES EXIST
FOR COMPANY.
FIXED ASSETS:
Tangible Assets
· Plant and Machinery
· Furniture and Fixtures
· Computer
· Office Equipments
· Vehicles
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 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.59.65 |
|
|
1 |
Rs.99.21 |
|
Euro |
1 |
Rs.82.39 |
INFORMATION DETAILS
|
Information
Gathered by : |
PDT |
|
|
|
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
NKT |
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 |
6 |
|
--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 |
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 |
|
47 |
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.