MIRA
INFORM REPORT
|
Report Date : |
19.08.2014 |
IDENTIFICATION DETAILS
|
Name : |
SUJAN IMPEX PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
105, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
17.07.1996 |
|
|
|
|
Com. Reg. No.: |
11-101179 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 0.317 Million
|
|
|
|
|
CIN No.: [Company Identification
No.] |
U51900MH1996PTC101179 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMS39058F |
|
|
|
|
PAN No.: [Permanent Account No.] |
AACCS2106G |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
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|
Line of Business
: |
Trading in fabrics and textiles. |
|
|
|
|
No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
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|
|
|
Comments : |
Subject is an established company having satisfactory track record. General financial position of the company seems to be sound and
healthy. Trade relations are fair. Business is active. Payment terms are
reported to be usually correct. The company can be considered for business dealings at usual trade
terms and condition. |
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
N E W S
As per the latest IMF study, the total weigh of emerging markets in the
GDP of the world on a purchasing power parity basis has seen a sizeable shift.
It highlights how as against 51 % in 2005, the emerging economies now account
for close to 56 % of the global purchasing power GDP as per the latest survey.
And with the emerging economies growing at a faster rate than their developed
counterparts, there are every possibility that the their share goes up further
in the coming years. China may surpass the US over the next few years.
Politics and economics are very intricately connected. They tend to
influence each other in ways that could be very complex and far-reaching. The
prospects of the India’s economy have been seriously compromised due to
political corruption. High inflation, poor standard of living are to a great
extent a result of rampant corruption in the country. China on the other hand,
seems to be facing diametrically opposite challenge. American hedge fund
manager Jim Chanos has been keenly following the political and economic
development in the dragon economy and has figured out something that is quite
worrying. He is of the view that the Chinese economy could be heading toward
trouble on account of new Chinese President Xi Jingping’s very aggressive
anti-corruption drive. Chanos believes tat many things such as apartment sales,
luxury products, etc. were largely bought with dirty money. And it is now
beginning to impact consumption. This may indeed be bad news for an economy
that is struggling to transition from an investment-driven export-oriented
economy to a domestic consumption-driven economy.
A study published by Firstpost has revealed that asset classes like real
estate and equities were the biggest beneficiaries of the liberalization
policies. A firm called Ciane Analytics studied returns from assets
including equities, gold, fixed deposits, G-Secs and real estate since 1991.
Real estate outperformed every other asset classes during the 23-year period
with an annualized return of 20 % ! Equities came in second with annualized
return of 15.5 % ! However, while these returns may seem mouthwatering, the
fact is that the return from equities adjusted for inflation came down to just
7.1 %.
Some brief news are as under
. R-Power to buy Jaypee’s hydro assets
. Investors await justice in NSEL case
. India seeks MFN status from Pakistan ahead of meeting
. Ukrain’s clashes with rebels hinder MH17 crash investigation
. India exploring merger of state-owned hydro PSUs
..Higher costs weigh down profit growth to slowest in 9 quarters
..Wal-Mart to expand wholesale business in India
. GMR group moves to strengthen balance sheet
. Central Bank to sell 4 % stake to Life Insurance Corporation
. Tata Chemicals plans to raise up to Rs 10000 mn.
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
31-03-2014.
INFORMATION DECLINED
MANAGEMENT NON – COOPERATIVE
LOCATIONS
|
Registered Office : |
105, Bombay
Samachar Marg, 1st Floor, Road No. 10, Fort, Mumbai – 400023,
Maharashtra, India |
|
Tel. No.: |
91-22-66969381/ 2 |
|
Fax No.: |
91-22-66969384 |
|
E-Mail : |
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|
Website : |
|
|
Location : |
Owned |
|
|
|
|
Corporate Office : |
C – 3, Nanddham
Industrial Estate, Marol Maroshi Road, Andheri [East] Mumbai – 400059, Maharashtra, India |
|
Tel. No.: |
91-22-66969381/ 82 |
|
Fax No.: |
91-22-66969384 |
|
E-Mail : |
|
|
|
|
|
Warehouse : |
Shed No. L/19/5 and 6, GIDC Industrial, Area, Por, Ramangamdi,
Baroda-391243, Gujarat, India |
|
Tel. No.: |
91-265-2831529 |
DIRECTORS
As on 30.09.2013
|
Name : |
Mr. Ravindra Khushalchand Mehta |
|
Designation : |
Director |
|
Address : |
B 104,
Harshvardhan Society, Shkivihar Road, Sakhinaka, Andheri [East], Mumbai –
400072, Maharashtra, India |
|
Date of Birth/Age : |
01.05.1961 |
|
Date of Appointment : |
01.10.1997 |
|
DIN No.: |
01742781 |
|
|
|
|
Name : |
Mr. Girish Chinubhai Parikh |
|
Designation : |
Director |
|
Address : |
10, Bapuji Niwas,
6th Road, Santacruz [East], Mumbai - 400072, Maharashtra, India |
|
Date of Birth/Age : |
18.01.1961 |
|
Date of Appointment : |
01.10.1997 |
|
DIN No.: |
00691233 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2013
|
Names of Shareholders |
|
No. of Shares |
|
Girish C. Parikh |
|
750 |
|
C. R. Parikh |
|
375 |
|
Manjari G. Parikh |
|
14325 |
|
Ravindra K Mehta |
|
3825 |
|
Meena R Mehta |
|
4500 |
|
Ravindra K Mehta HUF |
|
6750 |
|
Pushpavati K Mehta |
|
750 |
|
Kusum C. Parikh |
|
375 |
|
Total |
|
31650 |
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 : |
Trading in fabrics and textiles. |
GENERAL INFORMATION
|
No. of Employees : |
Information declined by the management |
|
|
|
|
Bankers : |
Not Divulged |
|
|
|
|
Facilities : |
-- |
|
|
|
|
Banking
Relations : |
|
|
|
|
|
Auditors : |
|
|
Name : |
Naresh and Company Chartered Accountants |
|
Address : |
210-203, City Enclave, Opposite Polo Ground, Bagikhana, Vadodara –
390001, Gujarat, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AACFM7595C |
CAPITAL STRUCTURE
As on 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
50000 |
Equity Shares |
Rs.10/- each |
Rs. 0.500 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
31650 |
Equity Shares |
Rs.10/- each |
Rs. 0.317
Million |
|
|
|
|
|
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 |
0.317 |
0.317 |
0.317 |
|
(b) Reserves & Surplus |
81.482 |
68.615 |
51.837 |
|
(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) |
81.799 |
68.932 |
52.154 |
|
|
|
|
|
|
(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 |
0.000 |
0.000 |
0.000 |
|
Total
Non-current Liabilities (3) |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
0.000 |
0.263 |
6.566 |
|
(b) Trade payables |
27.069 |
25.713 |
33.223 |
|
(c) Other current liabilities |
1.683 |
0.905 |
1.212 |
|
(d) Short-term provisions |
7.088 |
8.090 |
6.164 |
|
Total
Current Liabilities (4) |
35.840 |
34.971 |
47.165 |
|
|
|
|
|
|
TOTAL |
117.639 |
103.903 |
99.319 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
5.570 |
5.868 |
6.412 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(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 |
9.091 |
9.251 |
7.539 |
|
(c) Deferred tax assets (net) |
0.305 |
0.262 |
0.267 |
|
(d) Long-term Loan and Advances |
0.593 |
0.593 |
0.042 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
15.559 |
15.974 |
14.260 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
8.932 |
0.028 |
0.000 |
|
(b) Inventories |
34.152 |
32.218 |
48.163 |
|
(c) Trade receivables |
22.284 |
38.495 |
28.216 |
|
(d) Cash and cash equivalents |
21.977 |
9.037 |
1.704 |
|
(e) Short-term loans and
advances |
14.735 |
8.151 |
6.976 |
|
(f) Other current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
102.080 |
87.929 |
85.059 |
|
|
|
|
|
|
TOTAL |
117.639 |
103.903 |
99.319 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
SALES |
|
|
|
|
|
Income |
159.741 |
171.380 |
124.374 |
|
|
Other Income |
NA |
0.889 |
0.330 |
|
|
TOTAL
|
NA |
172.269 |
124.704 |
|
|
|
|
|
|
|
Less |
EXPENSES |
NA |
147.395 |
106.160 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
22.303 |
24.874 |
18.544 |
|
|
|
|
|
|
|
Less |
TAX |
7.045 |
8.095 |
6.17 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
15.258 |
16.779 |
12.374 |
|
|
|
|
|
|
|
|
EARNINGS
IN FOREIGN CURRENCY |
|
|
|
|
|
FOB Value of Export |
NA |
0.000 |
4.319 |
|
|
Air Freight |
NA |
0.000 |
0.272 |
|
|
Commission Received |
NA |
0.053 |
2.290 |
|
|
TOTAL
EARNINGS |
NA |
0.053 |
6.881 |
|
|
|
|
|
|
|
|
CIF
VALUE OF IMPORTS |
NA |
101.876 |
110.263 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
482.09 |
530.13 |
305.97 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
NA |
9.74 |
9.92 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
13.96 |
14.51 |
14.91 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
20.60 |
26.35 |
20.26 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.27 |
0.36 |
0.36 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.00 |
0.00 |
0.13 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.85 |
2.51 |
1.80 |
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 |
0.317 |
0.317 |
0.317 |
|
Reserves & Surplus |
51.837 |
68.615 |
81.482 |
|
Net
worth |
52.154 |
68.932 |
81.799 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
6.566 |
0.263 |
0.000 |
|
Total
borrowings |
6.566 |
0.263 |
0.000 |
|
Debt/Equity
ratio |
0.126 |
0.004 |
0.000 |
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) |
|
Sales |
124.374 |
171.380 |
159.741 |
|
|
|
37.794 |
-6.791 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
124.374 |
171.380 |
159.741 |
|
Profit |
12.374 |
16.779 |
15.258 |
|
|
9.95% |
9.79% |
9.55% |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES
OF LONG-TERM DEBT DETAILS: 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 |
No |
|
9] |
Name of person contacted |
No |
|
10] |
Designation of contact
person |
No |
|
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 |
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 |
No |
|
24] |
Banking facility details |
No |
|
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 |
INDEX OF CHARGES: NO CHARGES EXIST FOR COMPANY
FINANCIAL RESULTS:
During the year, Company has achieved a turnover of Rs. 159.741 Millions (PY Rs. 171.380 Millions) which is a shortfall by about 7% as compared to previous year. After preceding two fantastic years of unbelievable growth, the Company has reached an entirely differently scale of operations and the growth rate cannot remain as high as 25% to 30% year on year. Specially considering the adverse economic conditions, they are happy that the Company has managed to substantially retain its topline. Due to focus on quality business, the margins remained stable and good. As a result, the Company was able to achieve a healthy pre-tax profitability of Rs. 22.303 Millions which is only marginally lower as compared to Rs. 24.874 Millions of preceding year. Despite increase in employees cost, the Company was able to maintain its Net Profit margin due to control over admin costs, absence of any major write-offs and increase in incomes from investments. Overall, the Company has achieved a post tax profitability of Rs. 15.258 Millions which still translates into a whopping Rs. 482.08 earning per equity share.
Despite the apprehensions, once again they managed to substantially avoid the recessionary trend. However, they do expect that the sales will remain on similar levels and there will be sluggisness for growth. The major worry is about the impact of forex fluctuation. With the rupee having fallen to all time lows in the early part of the year, their import heaviness has translated into substantial forex losses. The resultant rise in landed cost cannot be passed on to the customers immediately and take some time. They hope that the rupee stabilises and they are able to get price rise on their products to ride out the storm.
Overall, with continued focus and thrust on development and growth of business while also looking at other avenues of business, they still expect higher volumes but maintaining profitability will remain a concern during the coming year.
GENERAL INFORMATION
OF THE COMPANY:
Subject was incorporated in July 1996 to carry on the business of trading principally in fabrics and textiles. The Present Management has been conducting the trading activities in imported fabrics for various applications since more than one decade. They have a rich experience of the industry and products also have very good demand in India. The Company has an excellent track record of turnover and healthy profits.
UNSECURED LOAN
|
PARTICULARS |
31.03.2013 (Rs.
in Millions) |
31.03.2012 (Rs.
in Millions) |
|
Short-term
borrowings |
|
|
|
From Inter Corporate Deposit |
0.000 |
0.263 |
|
|
|
|
|
Total |
0.000 |
0.263 |
FIXED ASSETS
Tangible Assets:
· Land at Baroda
· Building at Baroda
· Air Conditioner
· Fax Machine
· Mobile Phone
· Telephone System
· Furniture & Fixtures
· Office Equipments
· Security System
· Motor Car (Honda City)
· Motor Car (Honda Civic-1)
· Motor Car (Honda Civic-2)
· Motor Car (Indica)
· Motor Car (Tata Indigo)
· Motor Car (Inova)
· Motor Car ( A- star Auto)
· Scooter
· Motor Bike
· Software
· Computer System
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.61.06 |
|
|
1 |
Rs.101.84 |
|
Euro |
1 |
Rs.81.56 |
INFORMATION DETAILS
|
Information
Gathered by : |
HNA |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
KVT |
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 |
5 |
|
--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 |
NO |
|
--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 |
|
45 |
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.