MIRA
INFORM REPORT
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Report Date : |
02.12.2014 |
IDENTIFICATION DETAILS
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Name : |
NIKOM PHARMACEUTICAL PRIVATE LIMITED |
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Registered
Office : |
510, |
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Country : |
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Financials (as
on) : |
31.03.2012 |
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Date of
Incorporation : |
04.07.2003 |
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Com. Reg. No.: |
11-141173 |
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Capital
Investment / Paid-up Capital : |
Rs.2.101 Millions |
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CIN No.: [Company Identification
No.] |
U24230MH2003PTC141173 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
Not Available |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Subject is engaged in business of exporting, importing, marketing,
selling in Bulk Drugs and also acts as commission agent. |
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No. of Employees
: |
Not Divulged |
RATING & COMMENTS
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MIRA’s Rating : |
B (29) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having a moderate track record. Management of the company has failed to file its latest financial with
the government department. As per available financials of 2012, there seems some dip in the sales
turnover which shows dip in the profitability of the company. However, trade relations are fair. Business is active. Payment terms
are reported to be slow but correct. The company can be considered for business dealing with some caution. |
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 – June 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
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India |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
N E W S
Verdict Implications
: Apex court order may alter coal import dynamics. Traders go slow on talks over
coal supply contracts, uncertainty over cancellation of blocks weigh on stocks.
Recent arrest of the
Chennai head of the Registrar of Companies, the ministry of corporate affairs
arm that ensures that companies file all the information required by the
Companies Act is the latest manifestation of a messy fight between a father and
his adopted son for the control of Rs 40000 mn business empire. The Central
Bureau of Investigation arrested Manumeethi Cholan after he accepted Rs 10
lakhs as bribe from M A M Ramaswamy, a CBI official said.
Central Bureau of
Investigation books Electrotherm for cheating Central Bank of Rs 4360 mn.
Infosys maintains
revenue guidance. COO Rao says attrition still an area of concern and it would take
a few more quarters to bring down levels to 13-15 %.
DHL to invest
Euro 100 mn in India over next 2 years. The firm has chosen India to pilot its
e-commerce business model for the Asia-Pacific region.
Blackstone may buy
stake in BlueRidge SEZ in line with the fund’s real estate strategy in India.
Kingfisher Airlines
Ltd grounded in October 2012 under the weight of heavy debt and accumulated
losses, recently approached the Delhi high court for relief in two separate
cases. The airline challenged a notice by Punjab & National Bank alleging
that It had wilfully defaulted on Rs 7700 mn of loans and sought more time to
comply with the requirements under the listing agreements with the Stock
Exchanges.
OnMobile likely to
sack another 300 employees. The lay-offs follow a spate of senior-level exits
over the past two years, starting with of its founder. The overall lay-offs
could number around 600 and are driven by the need to cut costs, says a former
employee.
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 BY
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Name : |
Mr. Hitesh |
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Designation : |
Accounts Manager |
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Contact No.: |
91-22-67835711 |
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Date : |
02.12.2014 |
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Name : |
Mr. Aarti |
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Designation : |
Accounts Department |
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Contact No.: |
91-22-67835711 |
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Date : |
02.12.2014 |
LOCATIONS
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Registered Office / Factory: |
510, Keshava Building, Bandra Kurla Complex, Bandra (East), Mumbai –
400051, Maharashtra, India |
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Tel. No.: |
91-22-67835725/67835700/800 |
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Fax No.: |
Not Available |
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E-Mail : |
DIRECTORS
As on 29.09.2012
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Name : |
Mr. Jayant Shantilal Mirani |
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Designation : |
Director |
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Address : |
Plot No.: 34, Shankar Bhawan, JVPD Scheme, n S Road, No. 10, Vile
Parle (West), Mumbai – 400049, Maharashtra, India |
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Date of Birth/ Age : |
03.09.1960 |
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Date of Appointment : |
04.07.2003 |
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DIN No.: |
01555047 |
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Other Directorship :
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Name : |
Sonali Jayant Mirani |
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Designation : |
Director |
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Address : |
Plot No.: 34, Shankar Bhawan, JVPD Scheme, n S Road, No. 10, Vile
Parle (West), Mumbai – 400049, Maharashtra, India |
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Date of Birth/ Age : |
26.06.1970 |
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Date of Appointment : |
04.07.2003 |
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DIN No.: |
01555028 |
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Other Directorship :
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KEY EXECUTIVE
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Name : |
Mr. Hitesh |
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Designation : |
Accounts Manager |
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Name : |
Mr. Aarti |
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Designation : |
Accounts Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 29.09.2012
|
Names of Shareholders |
No. of Shares |
Percentage of
Holding |
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Jayant Shantilal Mirani |
105000 |
49.98 |
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Sonali Jayant Mirani |
105000 |
49.98 |
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Gangotri and Jamunotri Enterprises, India |
100 |
0.05 |
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Total |
210100 |
100.00 |
Equity Share Break up (Percentage of Total Equity)
As on 29.09.2012
|
Category |
Percentage of
Holding |
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Directors or relatives of Directors |
99.95 |
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Other top fifty shareholders |
0.05 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Subject is engaged in business of exporting, importing, marketing,
selling in Bulk Drugs and also acts as commission agent. |
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Exports : |
-- |
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Imports : |
-- |
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Terms : |
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Selling : |
-- |
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Purchasing : |
-- |
PRODUCTION STATUS:
NOT AVAILABLE
GENERAL INFORMATION
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Suppliers: |
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Customers: |
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No. of Employees : |
Not Divulged |
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Bankers : |
Bank of Baroda,
Ballard Estate Branch, Oriental House, Adi Marzaban Path, Mumbai - 400001,
Maharashtra, India |
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Facilities : |
NOTE: The above Car Loan taken from Kotak Mahindra Bank is secured against hypothecation of Skoda Superb Car and is repayable in 35 monthly installments starting from November, 2009 as per repayment schedule. Out of the Total loan of Rs. 1.938 Millions, the company has already repaid the installments of Rs. 1.580 Millions till 31st March, 2012 and balance amount of Rs. 0.357 Million is repayable in next 6 Months i.e. September, 2012. The above Car Loan taken from HDFC Bank is secured against hypothecation of honada Civic Car and is repayable on 60 monthly installments starting from May, 2008 as per repayment schedule. Out of the Total Loan of Rs. 1.097 Millions, the company has already repaid the installments of Rs. 0.854 Million till 31st March, 2012 and balance amount of Rs. 0.243 Million is repayable in next 11 months i.e. February, 2013. The above Car Loan taken from Volkswagen Finance Private
Limited is secured against hypothecation of Audi Car and is repayable in 36
monthly installments starting from May, 2011 as per repayment schedule. Out
of the Total Loan of Rs. 3.000 Millions, the company has already repaid the
installments of Rs. 0.847 Million till 31st March, 2012 and
balance amount of Rs. 2.153 Millions is repayable in next 16 Months i.e.
April 2014. |
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Auditors : |
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Name : |
Jain Jain and Associates Chartered Accountants |
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Address : |
201 - B, Om Sai Niwas, Subhash Road, Vile Parle (East), Mumbai -
400057 |
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Tel. No.: |
91-22-61936000/05 |
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Fax No.: |
91-22-61936001 |
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E-Mail : |
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PAN N Income-tax PAN of auditor or auditor's firm : |
AABFJ5269P |
CAPITAL STRUCTURE
As on 31.03.2012
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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1000000 |
Equity Shares |
Rs.10/- each |
Rs. 10.000 Millions |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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210100 |
Equity Shares |
Rs.10/- each |
Rs.2.101
Millions |
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FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2012 |
31.03.2011 |
|
I.
EQUITY
AND LIABILITIES |
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(1)Shareholders' Funds |
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(a) Share Capital |
|
2.101 |
2.101 |
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(b) Reserves & Surplus |
|
35.157 |
29.944 |
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(c) Money
received against share warrants |
|
0.000 |
0.000 |
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(2) Share Application money pending allotment |
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0.000 |
0.000 |
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Total
Shareholders’ Funds (1) + (2) |
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37.258 |
32.045 |
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(3)
Non-Current Liabilities |
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(a) long-term borrowings |
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37.340 |
32.269 |
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(b) Deferred tax liabilities (Net) |
|
0.000 |
0.000 |
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(c) Other long term liabilities |
|
0.471 |
0.471 |
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(d) long-term provisions |
|
0.000 |
0.000 |
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Total Non-current Liabilities (3) |
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37.811 |
32.740 |
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(4) Current Liabilities |
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(a) Short term borrowings |
|
0.000 |
0.000 |
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(b) Trade payables |
|
141.272 |
161.511 |
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(c) Other current
liabilities |
|
26.285 |
28.807 |
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(d) Short-term provisions |
|
2.016 |
2.707 |
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Total Current Liabilities (4) |
|
169.573 |
193.025 |
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TOTAL |
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244.642 |
257.810 |
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II.
ASSETS |
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(1) Non-current assets |
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(a) Fixed Assets |
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|
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(i) Tangible assets |
|
63.298 |
44.006 |
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(ii) Intangible Assets |
|
0.000 |
0.000 |
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(iii) Capital
work-in-progress |
|
0.000 |
0.000 |
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(iv)
Intangible assets under development |
|
0.000 |
0.000 |
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(b) Non-current Investments |
|
0.372 |
0.000 |
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(c) Deferred tax assets (net) |
|
0.378 |
0.125 |
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(d) Long-term Loan and Advances |
|
30.713 |
35.915 |
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(e) Other Non-current assets |
|
0.088 |
0.102 |
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Total Non-Current Assets |
|
94.849 |
80.148 |
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(2) Current assets |
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|
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(a) Current investments |
|
0.000 |
0.000 |
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(b) Inventories |
|
0.000 |
15.131 |
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(c) Trade receivables |
|
129.390 |
152.945 |
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(d) Cash and cash
equivalents |
|
18.433 |
7.141 |
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(e) Short-term loans and
advances |
|
1.956 |
2.430 |
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(f) Other current assets |
|
0.014 |
0.015 |
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Total Current Assets |
|
149.793 |
177.662 |
|
|
|
|
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TOTAL |
|
244.642 |
257.810 |
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SOURCES OF FUNDS |
|
|
31.03.2010 |
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SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
2.101 |
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2] Share Application Money |
|
|
0.000 |
|
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3] Reserves & Surplus |
|
|
22.924 |
|
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4] (Accumulated Losses) |
|
|
0.000 |
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NETWORTH |
|
|
25.025 |
|
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LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
2.375 |
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2] Unsecured Loans |
|
|
33.669 |
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TOTAL BORROWING |
|
|
36.044 |
|
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DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
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|
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TOTAL |
|
|
61.069 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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|
27.480 |
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Capital work-in-progress |
|
|
0.000 |
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|
|
|
|
|
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INVESTMENT |
|
|
0.000 |
|
|
DEFERREX TAX ASSETS |
|
|
0.137 |
|
|
|
|
|
|
|
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
0.658
|
|
|
Sundry Debtors |
|
|
166.308
|
|
|
Cash & Bank Balances |
|
|
3.173
|
|
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Other Current Assets |
|
|
0.000
|
|
|
Loans & Advances |
|
|
23.173
|
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Total
Current Assets |
|
|
193.312
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
143.133
|
|
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Other Current Liabilities |
|
|
10.140
|
|
|
Provisions |
|
|
6.718
|
|
Total
Current Liabilities |
|
|
159.991
|
|
|
Net Current Assets |
|
|
33.321
|
|
|
|
|
|
|
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MISCELLANEOUS EXPENSES |
|
|
0.131 |
|
|
|
|
|
|
|
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TOTAL |
|
|
61.069 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Sales / Commission Income |
407.353 |
453.461 |
291.416 |
|
|
|
Other Income |
11.770 |
20.021 |
21.572 |
|
|
|
TOTAL |
419.123 |
473.482 |
312.988 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
412.212 |
463.808 |
302.867 |
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
6.911 |
9.674 |
10.121 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
1.698 |
2.654 |
2.720 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
5.213 |
7.020 |
7.401 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
24.81 |
33.47 |
35.22 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
Net Profit Margin (PAT / Sales) |
(%) |
1.28 |
1.55 |
2.54 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.83 |
3.75 |
4.58 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.19 |
0.30 |
0.40 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
1.00 |
1.01 |
1.44 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.88 |
0.92 |
1.21 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2011 |
31.03.2012 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Share Capital |
2.101 |
2.101 |
|
Reserves & Surplus |
29.944 |
35.157 |
|
Net
worth |
32.045 |
37.258 |
|
|
|
|
|
long-term borrowings |
32.269 |
37.340 |
|
Short term borrowings |
0.000 |
0.000 |
|
Total
borrowings |
32.269 |
37.340 |
|
Debt/Equity
ratio |
1.007 |
1.002 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2010 |
31.03.2011 |
31.03.2012 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales / Commission Income |
291.416 |
453.461 |
407.353 |
|
|
|
55.606 |
-10.168 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2010 |
31.03.2011 |
31.03.2012 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales / Commission Income |
291.416 |
453.461 |
407.353 |
|
Profit |
7.401 |
7.020 |
5.213 |
|
|
2.54% |
1.55% |
1.28% |
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 |
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 |
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 |
No |
|
17] |
Major suppliers |
Yes |
|
18] |
Major customers |
Yes |
|
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 |
No |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
10354260 |
21/06/2014 * |
99,000,000.00 |
BANK OF BARODA |
SME LOAN FACTORY, (MMSR), MEHAR CHAMBERS, BALLARD ESTATE, MUMBAI - 400001, MAHARASHTRA, INDIA |
C11424678 |
* Date of charge modification
CHANGE OF ADDRESS
Registered office of the company has been
shifted from Plot No 34, Flat No 5, Sahakar Building, 5th Floor, JVPD Scheme Vile
Parle (West), Mumbai – 400049, Maharashtra, Indiato the present address w.e.f 01.07.2008
NATURE OF
OPERATION
The company is primarily engaged in business of exporting, importing,
marketing, selling in Bulk Drugs and also acts as commission agent.
UNSECURED LOAN
|
PARTICULARS |
31.03.2012 (Rs.
in Millions) |
31.03.2011 (Rs.
in Millions) |
|
LONG-TERM
BORROWINGS |
|
|
|
Loan and Advance from related parties and shareholder |
4.178 |
1.669 |
|
Inter corporate debts |
31.989 |
30.000 |
|
Total |
36.167 |
31.669 |
FIXED ASSETS
· Computer
Motor
Car
Mobile
Air
Conditioner
Office
Equipment’s
Electrical
Installation
Furniture
and Fixture
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.62.14 |
|
|
1 |
Rs.97.05 |
|
Euro |
1 |
Rs.77.37 |
INFORMATION DETAILS
|
Information
Gathered by : |
PRT |
|
|
|
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
MRI |
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 |
3 |
|
--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 |
|
29 |
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.