MIRA INFORM REPORT
|
Report Date : |
31.12.2014 |
IDENTIFICATION DETAILS
|
Name : |
ISHAN INFOTECH LIMITED |
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Registered
Office : |
313-316, Shivam Complex, |
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Country : |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
27.12.2000 |
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Com. Reg. No.: |
04-039118 |
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Capital
Investment / Paid-up Capital : |
Rs. 5.000 Millions |
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CIN No.: [Company Identification
No.] |
U72200GJ2000PLC039118 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
RKTI00310C |
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PAN No.: [Permanent Account No.] |
AAACI8683C |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Trader of Computer Peripherals. |
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No. of Employees
: |
Information declined by management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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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 an established company having satisfactory track record. General financial position of the company seems to be sound and
healthy. Profitability of the company is fair. 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 conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
EXTERNAL AGENCY RATING
NOT AVAILABLE
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
MANGEMENT NON-COOPERATIVE (Tel. No.: 91-281-2468232)
LOCATIONS
|
Registered Office : |
313-316, Shivam Complex, |
|
Tel. No.: |
91-281-2468232/ 3048448 |
|
Mobile No.: |
91-9879001699 (Mrs. Purvi Kotecha) |
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Fax No.: |
91-281-2468232 |
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E-Mail : |
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Website : |
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Location : |
Owned |
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Branch Office 1 : |
315, Plaza Centre, Plot No.117, Sector No.-8, Near |
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Branch Office 2 : |
B-503, Shapath Hexa, Opposite Gujarat High Court, Near Ganesh Neridian,
S.G. Highway, Ahmedabad – 38006, Gujarat, India |
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Branch Office 3 : |
725- International Trade Centre, Majura Gate, |
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Branch Office 4 : |
802, |
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Branch Offices : |
Also located at · Ankleshwar · Bhuj · Gandhinagar ·
· Junagadh · Morvi · Porbandar · Silvassa |
DIRECTORS
As on 29.09.2014
|
Name : |
Mr. Pinkesh Narendrabhai Kotecha |
|
Designation : |
Director |
|
Address : |
Shital-2, Shakti Colony, B/h A.G. Office, |
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Date of Birth/Age : |
18.08.1977 |
|
Date of Appointment : |
27.12.2000 |
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DIN No. : |
00285714 |
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Name : |
Purvi Pinkeshbhai Kotecha |
|
Designation : |
Director |
|
Address : |
Shital-2, Shakti Colony, B/h A.G. Office, University Road, Rajkot – 360005, Gujarat, India |
|
Date of Birth/Age : |
11.10.1977 |
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Date of Appointment : |
27.12.2000 |
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DIN No. : |
00285739 |
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Name : |
Mr. Paresh Narendrabhai Kotecha |
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Designation : |
Director |
|
Address : |
Shital-2, Shakti Colony, B/h A.G. Office, University Road, Rajkot – 360005, Gujarat, India |
|
Date of Birth/Age : |
18.07.1969 |
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Date of Appointment : |
27.12.2000 |
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DIN No. : |
00285725 |
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Name : |
Mr. Mahesh Narendrabhai Kotecha |
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Designation : |
Director |
|
Address : |
Shital-2, Shakti Colony, B/h A.G. Office, University Road, Rajkot – 360005, Gujarat, India |
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Date of Birth/Age : |
24.12.1964 |
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Date of Appointment : |
27.12.2000 |
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DIN No. : |
00285729 |
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Name : |
Rupaben Maheshbhai Kotecha |
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Designation : |
Director |
|
Address : |
Shital-2, Shakti Colony, B/h A.G. Office, University Road, Rajkot – 360005, Gujarat, India |
|
Date of Birth/Age : |
28.08.1968 |
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Date of Appointment : |
27.12.2000 |
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DIN No. : |
00285888 |
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Name : |
Mr. Keyur Kamlesh Jathal |
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Designation : |
Director |
|
Address : |
Plot No. 483-1, Sector-8, Gandhinagar – 382008, Gujarat, India |
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Date of Birth/Age : |
21.02.1975 |
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Date of Appointment : |
07.02.2012 |
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DIN No. : |
05178716 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 29.09.2014
|
Names of Shareholders |
No. of Shares |
Percentage of
Holding |
|
Pinkesh Narendrabhai Kotecha |
127000 |
25.40 |
|
Paresh Narendrabhai Kotecha |
92000 |
18.40 |
|
Mahesh Narendrabhai Kotecha |
62000 |
12.40 |
|
Purvi Pinkeshbhai Kotecha |
85000 |
17.00 |
|
Rupaben Maheshbhai Kotecha |
31000 |
6.20 |
|
Keyur Kamlesh Jathal |
50000 |
10.00 |
|
Indiraben Kotecha |
50000 |
10.00 |
|
Parul B Sejpal |
1500 |
0.30 |
|
Vibha P Pujara |
1500 |
0.30 |
|
Total |
500000 |
100.00 |
As on 29.09.2014
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Trader of Computer Peripherals. |
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Brand Names : |
-- |
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Agencies Held : |
-- |
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Exports : |
-- |
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Imports : |
-- |
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Terms : |
-- |
PRODUCTION STATUS:
NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
Information declined by management |
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Bankers : |
· Yes Bank Limited, 9th Floor, Nehru Centre, Discovery of India, Dr. Annie Besant Road, Worli, Mumbai - 400018, Maharashtra, India · The Co-Operative Bank of Rajkot Limited, "Sahakar Sarita", Panchnath Road, Rajkot - 360001, Gujarat, India · Bank of Baroda, Tagore Marg, Ruxmani Building, Near Astron Cinema, Rajkot - 360001, Gujarat, India |
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Facilities : |
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Auditors : |
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Name : |
Kotak and Company Chartered Accountants |
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Address : |
Opp.-15, Panchnath Plot Corner, Moti Tanki Chowk, Rajkot – 360001, Gujarat, India |
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Tel. No. : |
91-281-2483600 |
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Income-tax
PAN of auditor or auditor's firm : |
ADIPK1317R |
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Companies in which directors of the company are able to exercise
control or have significant influence : |
Ishan Netsol Private Limited Ishan Netcom Private Limited Isurf Broadband Private Limited |
CAPITAL STRUCTURE
As on 29.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
500,000 |
Equity Shares |
Rs.10/- each |
Rs. 5.000 Millions |
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|
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|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
500,000 |
Equity Shares |
Rs.10/- each |
Rs. 5.000 Millions |
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|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders'
Funds |
|
|
|
|
(a) Share Capital |
1.000 |
0.605 |
0.605 |
|
(b) Reserves & Surplus |
16.087 |
12.917 |
11.161 |
|
(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) |
17.087 |
13.522 |
11.766 |
|
|
|
|
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|
(3) Non-Current
Liabilities |
|
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|
(a) long-term borrowings |
0.083 |
0.053 |
0.011 |
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(b) Deferred tax liabilities (Net) |
0.146 |
0.122 |
0.135 |
|
(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) |
0.229 |
0.175 |
0.146 |
|
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(4) Current Liabilities |
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|
(a) Short
term borrowings |
4.462 |
6.997 |
7.040 |
|
(b) Trade
payables |
16.925 |
34.247 |
19.931 |
|
(c) Other
current liabilities |
5.656 |
5.510 |
5.409 |
|
(d) Short-term
provisions |
0.206 |
0.129 |
0.139 |
|
Total Current
Liabilities (4) |
27.249 |
46.883 |
32.519 |
|
|
|
|
|
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TOTAL |
44.565 |
60.580 |
44.431 |
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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 |
2.014 |
1.510 |
1.598 |
|
(ii)
Intangible Assets |
0.131 |
0.017 |
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 |
0.175 |
0.175 |
0.175 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
1.848 |
0.892 |
0.901 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
4.168 |
2.594 |
2.674 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
3.361 |
4.434 |
2.293 |
|
(c) Trade
receivables |
34.676 |
50.569 |
35.741 |
|
(d) Cash
and cash equivalents |
1.578 |
2.336 |
2.910 |
|
(e)
Short-term loans and advances |
0.622 |
0.609 |
0.813 |
|
(f) Other
current assets |
0.160 |
0.038 |
0.000 |
|
Total
Current Assets |
40.397 |
57.986 |
41.757 |
|
|
|
|
|
|
TOTAL |
44.565 |
60.580 |
44.431 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
151.770 |
139.332 |
97.671 |
|
|
|
Other Income |
1.790 |
1.523 |
2.814 |
|
|
|
TOTAL (A) |
153.560 |
140.855 |
100.485 |
|
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|
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|
Less |
EXPENSES |
|
|
|
|
|
|
|
Purchase of Services and Goods |
125.724 |
120.887 |
81.443 |
|
|
|
Changes in Inventories of Trading Goods |
1.073 |
(2.141) |
3.171 |
|
|
|
Employee Benefit Expenses |
14.379 |
12.531 |
8.538 |
|
|
|
Other Expenses |
6.644 |
4.891 |
4.115 |
|
|
|
TOTAL (B) |
147.820 |
136.168 |
97.267 |
|
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|
|
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|
PROFIT/
(LOSS) BEFORE INTEREST, TAX, DEPRECIATION
AND AMORTISATION (A-B) (C) |
5.740 |
4.687 |
3.218 |
|
|
|
|
|
|
|
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|
Less |
FINANCIAL
EXPENSES (D) |
1.289 |
1.641 |
0.497 |
|
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|
|
|
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|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
4.451 |
3.046 |
2.721 |
|
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|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
0.459 |
0.353 |
0.503 |
|
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|
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|
|
PROFIT/
(LOSS) BEFORE TAX (E-F)
(G) |
3.992 |
2.693 |
2.218 |
|
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|
|
|
|
|
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|
Less |
TAX (H) |
1.217 |
0.937 |
0.758 |
|
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|
PROFIT/
(LOSS) AFTER TAX (G-H) (I) |
2.775 |
1.756 |
1.460 |
|
|
|
|
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|
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|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials; Purchase of Trading Goods |
1.659 |
NA |
0.000 |
|
|
TOTAL IMPORTS |
1.659 |
NA |
0.000 |
|
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|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
45.79 |
29.02 |
24.13 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT/Sales) |
(%) |
1.83 |
1.26 |
1.49 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/Sales) |
(%) |
3.78 |
3.36 |
3.29 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
8.99 |
4.46 |
5.01 |
|
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|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.23 |
0.20 |
0.19 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.27 |
0.52 |
0.60 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.48 |
1.24 |
1.28 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Share Capital |
0.605 |
0.605 |
1.000 |
|
Reserves & Surplus |
11.161 |
12.917 |
16.087 |
|
Net
worth |
11.766 |
13.522 |
17.087 |
|
|
|
|
|
|
long-term borrowings |
0.011 |
0.053 |
0.083 |
|
Short term borrowings |
7.040 |
6.997 |
4.462 |
|
Total
borrowings |
7.051 |
7.050 |
4.545 |
|
Debt/Equity
ratio |
0.599 |
0.521 |
0.266 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
97.671 |
139.332 |
151.770 |
|
|
|
42.654 |
8.927 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
97.671 |
139.332 |
151.770 |
|
Profit |
1.460 |
1.756 |
2.775 |
|
|
1.49% |
1.26% |
1.83% |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES
OF LONG TERM DEBTS
|
Particulars |
31.03.2014 (Rs.
In Millions) |
31.03.2013 (Rs.
In Millions) |
31.03.2012 (Rs.
In Millions) |
|
|
|
|
|
|
Current
Maturities of Long Term Debts |
|
|
|
|
Term Loan –
Secured (Secured by way of hypothecation of Vehicle) |
0.185 |
0.000 |
0.099 |
|
|
|
|
|
|
Total |
0.185 |
0.000 |
0.099 |
|
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 |
Yes |
|
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 |
No |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
10505765 |
03/06/2014 |
11,500,000.00 |
YES BANK LIMITED |
9TH FLOOR, NEHRU CENTRE,
DISCOVERY OF INDIA, DR. |
C09111097 |
UNSECURED LOANS
|
PARTICULAR |
31.03.2014 (Rs.
In Millions) |
31.03.2013 (Rs.
In Millions) |
|
LONG TERM
BORROWINGS |
|
|
|
From Others From shareholder (It is considered as long term as there is no stipulation for the terms of repayment and it is most likely to be repaid after one year) |
0.000 |
0.053 |
|
Total |
0.000 |
0.053 |
CHANGE OF ADDRESS
The registered office of the company has been shifted from 302
Dhanrajnidr Yagnik Road, Rajkot - 360001 Gujarat, India to the present address
w.e.f. 11.11.2011
OPERATIONS
The company has achieved turnover of Rs. 151.700 Millions during the year and earned net profit after tax of Rs. 2.775 Millions. The company is confident to achieve higher sales in the coming years.
FIXED ASSETS
Tangible Assets
· Computer
· Electric fitting
· Furniture and Fixtures
· DG Generator set
· Air Conditioner
· Office Equipments
· LG TV
· EPABX and Telephone
· Mobile Instrument
· Sony Digital Camera
· NIKON Digital Camera
· Vehicle
· Motor car (Maruti Zen)
Intangible Assets
· Computer Software
· Trademark
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners, controlling
shareholders or senior officers as terrorist or terrorist organization or whom
notice had been received that all financial transactions involving their assets
have been blocked or convicted, found guilty or against whom a judgement or
order had been entered in a proceedings for violating money-laundering,
anti-corruption or bribery or international economic or anti-terrorism sanction
laws or whose assets were seized, blocked, frozen or ordered forfeited for
violation of money laundering or international anti-terrorism laws.
2] Court Declaration :
No exist to suggest that subject is or was
the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority for
any financial crime or under any formal investigation by a competent government
authority for any violation of anti-corruption laws or international anti-money
laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.75 |
|
|
1 |
Rs.98.88 |
|
Euro |
1 |
Rs.77.32 |
INFORMATION DETAILS
|
Information
Gathered by : |
HTL |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
MRI |
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 |
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 |
|
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.