MIRA
INFORM REPORT
|
Report Date : |
07.04.2014 |
IDENTIFICATION DETAILS
|
Name : |
AARON HELMETS PRIVATE LIMITED (25.08.2013) |
|
|
|
|
Formerly Known
As : |
MUTUAL CRAFTS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
36, Mangala Apartments, Block – G, Kalkaji, New Delhi – 110019 |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on)
: |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
01-01-2004 |
|
|
|
|
Com. Reg. No.: |
55-123815 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.6.238 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U51909DL2004PTC123815 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
DELM13632D |
|
|
|
|
PAN No.: [Permanent Account No.] |
AADCM8500F |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer and Exporter of Aaron Helmets, Bike Helmets |
|
|
|
|
No. of Employees
: |
Not Divulged |
RATING & COMMENTS
|
MIRA’s Rating : |
B (27) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 241000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having a moderate track record. There are loss recorded by the company during 2013. The rating also takes into
consideration modest scale of operation, competitive industry, weak financial
risk profile marked by net loss stretched liquidity position and weak debt
coverage indicators. However, trade relations are fair. Business is active. Payments are
reported to be slow but correct. The company can be considered for business dealing with some cautions. |
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 – December 1, 2013
|
Country Name |
Previous Rating (30.09.2013) |
Current Rating (01.12.2013) |
|
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
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.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
|
Rating |
Fund Based Limits=B- |
|
Rating Explanation |
Have high risk of default. |
|
Date |
January, 2014 |
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 DENIED BY
|
Name : |
Mr. Subhash Roy |
|
Designation : |
General Manager Marketing |
|
Contact No.: |
91-9810727658 |
|
Date : |
20.03.2014 |
LOCATIONS
|
Registered Office : |
36, Mangala Apartments, Block – G, Kalkaji, New Delhi-110019, |
|
Tel. No.: |
91-11-25330754 / 26257400 |
|
Mobile No.: |
91-9810231594 (Mr. Sushil Kumar Aggarwal) 91-9810727658 (Mr. Subhash Roy) |
|
Fax No.: |
91-11-25330755 / 26251200 |
|
E-Mail : |
|
|
Website : |
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|
Area : |
2000 Sq. ft. |
|
Location : |
Owned |
|
|
|
|
Factory: |
Plot No. A-1, Eldeco-Sidcul Industrial Park, P.O. Sitarganj-262405 |
|
Tel No.: |
91-5948-260595 |
|
Fax No.: |
91-5948-260595 |
|
Location : |
Owned |
|
|
|
|
Marketing Office
: |
A-53, Hari Vihar, Opposite Metro Pillar No. 816, Main Dwarka Metro
Station, New Delhi-110078, Delhi, India |
|
Location : |
Rented |
DIRECTORS
AS ON 30.09.2013
|
Name : |
Mr. Sushil Kumar Aggarwal |
|
Designation : |
Managing Director |
|
Address : |
36, Mangla Apartments, Block G, Kalkaji, |
|
Date of Birth/Age : |
06.12.1954 |
|
Qualification : |
B.E. |
|
Date of Appointment : |
13.04.2006 |
|
DIN No.: |
00182607 |
|
|
|
|
Name : |
Ms. Tulika Agarwal |
|
Designation : |
Director |
|
Address : |
36, Mangla Apartments, Block G, Kalkaji, |
|
Date of Birth/Age : |
12.12.1974 |
|
Date of Appointment : |
13.04.2006 |
|
DIN No.: |
01926556 |
KEY EXECUTIVES
|
Name : |
Mr. Subhash Roy |
|
Designation : |
General Manager Marketing |
MAJOR SHAREHOLDERS
AS ON 30.09.2013
|
Names of Shareholders |
No. of Shares |
% of Holding |
|
Tulika Agarwal |
309990 |
49.70 |
|
Sushil Kumar Agarwal |
35000 |
5.61 |
|
Manjula Agarwal |
278768 |
44.69 |
|
Total |
623758 |
100.00 |
Equity Share Break up (Percentage of Total Equity)
AS ON 30.09.2013
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Aaron Helmets, Bike Helmets |
|
|
|
|
Products : |
·
Bike Helmets ·
Cruz Helmets ·
Motorcycle Helmets ·
Twister Décor Helmets ·
Driving Helmets ·
Jet Flyer Helmets ·
Baby Full Helmets ·
Vintage Plain Helmets ·
Safety Helmets ·
Designer Helmets ·
Baby Open Helmets ·
Vintage Décor Helmets ·
Modular Helmets ·
Motorbike Helmets ·
Cruz Décor Helmets ·
Two Wheeler Accessories |
GENERAL INFORMATION
|
No. of Employees : |
Not Divulged |
|
|
|
|
Bankers : |
·
State Bank of India, Rudrapur Branch, Udham Singh
Nagar - 263153, Uttaranchal, India ·
ICICI Bank Limited, New Delhi, India ·
HDFC Bank Limited, New Delhi, India |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
R S Modi and Company Chartered Accountants |
|
Address : |
13/29, |
|
PAN No.: |
AACFR7748A |
|
Tel. No.: |
25814030 |
CAPITAL STRUCTURE
AS ON 30.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
750000 |
Equity Shares |
Rs.10/- each |
Rs.7.500 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
623758 |
Equity Shares |
Rs.10/- each |
Rs.6.238 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 |
6.238 |
5.483 |
5.483 |
|
(b) Reserves & Surplus |
54.095 |
45.743 |
45.396 |
|
(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) |
60.333 |
51.226 |
50.879 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
18.125 |
11.800 |
66.776 |
|
(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 |
0.000 |
0.000 |
0.000 |
|
Total Non-current Liabilities (3) |
18.125 |
11.800 |
66.776 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
75.419 |
85.198 |
22.539 |
|
(b) Trade payables |
23.180 |
19.287 |
16.312 |
|
(c) Other current
liabilities |
8.090 |
9.036 |
9.316 |
|
(d) Short-term provisions |
0.000 |
0.000 |
0.000 |
|
Total Current Liabilities (4) |
106.689 |
113.521 |
48.167 |
|
|
|
|
|
|
TOTAL |
185.147 |
176.547 |
165.822 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
96.839 |
96.173 |
99.516 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.005 |
|
(iii) Capital
work-in-progress |
0.000 |
0.742 |
0.000 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
19.815 |
17.135 |
17.290 |
|
(d) Long-term Loan and Advances |
1.999 |
1.316 |
0.129 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
118.653 |
115.366 |
116.940 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
22.571 |
18.904 |
13.483 |
|
(c) Trade receivables |
34.867 |
30.375 |
24.844 |
|
(d) Cash and cash
equivalents |
4.704 |
6.236 |
6.199 |
|
(e) Short-term loans and
advances |
4.352 |
5.666 |
4.356 |
|
(f) Other current assets |
0.000 |
0.000 |
0.000 |
|
Total Current Assets |
66.494 |
61.181 |
48.882 |
|
|
|
|
|
|
TOTAL |
185.147 |
176.547 |
165.822 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
|
85.671 |
|
|
|
Other Income |
|
|
1.987 |
|
|
|
TOTAL (A) |
NA |
NA |
87.658 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Material Consumed |
|
|
53.553 |
|
|
|
Manufacturing, Administrative and Selling
Expenses |
|
|
30.762 |
|
|
|
Increase/(Decrease) in Finished Goods |
|
|
(1.987) |
|
|
|
TOTAL (B) |
NA |
NA |
82.328 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
|
|
5.330 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
|
|
3.532 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
(3.510) |
5.536 |
1.798 |
|
|
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION (F) |
|
|
3.929 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
|
|
(3.784) |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
|
|
(17.290) |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
NA |
NA |
13.506 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
|
|
(17.897) |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
|
|
(4.373) |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
|
|
0.70 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
NA
|
NA
|
15.41
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
NA
|
NA
|
(4.42)
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
NA
|
NA
|
(2.55)
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
NA
|
NA
|
0.07
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.55 |
1.89 |
1.76 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.62 |
0.54 |
1.01 |
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 |
5.483 |
5.483 |
6.238 |
|
Reserves & Surplus |
45.396 |
45.743 |
54.095 |
|
Net
worth |
50.879 |
51.226 |
60.333 |
|
|
|
|
|
|
long-term borrowings |
66.776 |
11.800 |
18.125 |
|
Short term borrowings |
22.539 |
85.198 |
75.419 |
|
Total
borrowings |
89.315 |
96.998 |
93.544 |
|
Debt/Equity
ratio |
1.755 |
1.894 |
1.550 |
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 |
Yes |
|
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
one 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 |
No |
|
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 |
NOTE: Registered office
address of the company has been shifted from 201 Link Apartments 18,
Patparganj, New Delhi – 110092, India to the present address w.e.f. 13.04.2006
OPERATIONS:
During the Financial Year ended 31.03.2013 The Company has earned Profit of Rs.3.510 Millions before Depreciation as against the Profit of Rs.5.536 Millions in the preceding year. There is an increase in turnover of by 4.17% during the year audit which reflects that the brand of the company has started holding its roots and will improve further in the current financial year inspite of the stiff competition. The directors are confident to make turnaround during the current financial year. The company has inspite the recession has targeted a turnover of 200.000 Millions during the current financial year.
INDEX OF CHARGE:
|
Sr. No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10061829 |
13/12/2012
* |
64,300,000.00 |
STATE
BANK OF INDIA |
SME RUDRAPUR
BRANCH, KASHIPUR ROAD, NEAR SANJEEVNI HOSITAL RUDRAPUR, UDHAM SINGH NAGAR,
UTTARAKHAND |
B65478737 |
|
2 |
10061832 |
07/07/2007 |
38,600,000.00 |
STATE
BANK OF INDIA |
RUDRAPUR
BRANCH, UDHAM SINGH NAGAR, UTTARAKHAND - 263153, INDIA |
A20057204 |
* Date of charge modification
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.60.32 |
|
|
1 |
Rs.100.04 |
|
Euro |
1 |
Rs.82.65 |
INFORMATION DETAILS
|
Information Gathered
by : |
NYA |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
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 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
1 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
4 |
|
--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 |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
|
|
|
|
TOTAL |
|
27 |
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.