MIRA
INFORM REPORT
|
Report Date : |
15.02.2014 |
IDENTIFICATION DETAILS
|
Name : |
AMBA ENTERPRISES LIMITED |
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Registered
Office : |
A-103, Shilpin Building, Off Borsapada Road, Opposite Malhar Building,
Mahavir Nagar, Kandivali (West), Mumbai – 400067, Maharashtra |
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Country : |
India |
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Financials (as
on) : |
31.03.2013 |
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Date of
Incorporation : |
01.06.1992 |
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Com. Reg. No.: |
11-067004 |
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Capital
Investment / Paid-up Capital : |
Rs.52.752 Millions |
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CIN No.: [Company Identification
No.] |
L99999MH1992PLC067004 |
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PAN No.: [Permanent Account No.] |
AAFCA6033R |
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Legal Form : |
A Public Limited Liability Company. The Company’s Shares are Listed on
the Stock Exchanges. |
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Line of Business
: |
Manufacturing of Transformer, Lamination, Crgo, Crngo, Toroidal Cores,
Cut and Stamping. |
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No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (31) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 451000 |
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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 moderate track record. Management has seen a dip in its net profitability during 2013. The company possesses an average financial profile keeping in view its
medium scale of operations, marked by modest networth position during the
year under review. However, trade relations are fair. Business is active. Payment term
are reported as slow but correct. The company can be considered for business dealings with some
caution. NOTE: Company is Listed on Pune Stock Exchange. |
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 |
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Restricted |
C2 |
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Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
The worst is over for India’s economy with gross domestic product likely
to expand 5 %to 5.5 % this year and more than 6 % in 2015, according to Moody’s
Analytics. Concerns over the rupee and current account deficit are under
control, said the agency. Ratings firm Crisil has forecast 6 % growth for
2014/15 up from the estimated 4.8 % for 2013/14. Total economic growth,
infrastructure bottlenecks and lack of transparency and consistency in foreign
direct investment policies seem to have taken a toll on India’s attractiveness
as an investment destination, says an Ernst & Young survey. Projects
with FDI component fell 16.4 % across the globe in 2012 from the previous
year. The drop in India was steeper at 21 %. State run carrier Air India
is doling out free tickets to its 24000 employees, even as it expects to incur
a loss of Rs 39000 mn this financial year and has a debt of Rs 350000 mn.
550000 number of jobs generated across India in 2013, a fall of 0.4 % as
compared to with a year earlier. The National Capital Region has a
one-fourth share in total jobs created, according to a study by industry lobby
group Assochem, Banks, real estate, automobile and telecommunications sectors
are showing a rise of job creation. $ 805 mn investments by venture capital
firms in India during 2013, registering a drop of about 18 % over the previous
year. The Information Technology and IT-Enabled Services Industry retained
its status as the favourable venture capital investors in 2013. Pakistan has
temporarily banned gold imports for the second time in six months, as it tries
to stem smuggling into India. India’s import duty on gold is 10 % and curbs on
purchases have dried up legal imports into what used to be the world’s biggest
bullion buyers. The World Gold Council puts the amount smuggled into India at
upto 200 tonnes in 2013. The Reserve Bank of India has proposed that unclaimed
bank deposits estimated to be about Rs 35000 mn be used for education and
awareness among depositors. According to the plan, deposits that have not
been claimed for at least 10 years will be transferred to the scheme.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA – NSIC |
|
Rating |
SE 3B |
|
Rating Explanation |
Moderate performance capability and moderate
financial strength. |
|
Date |
July 8, 2013 |
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 : |
Ms. Sheetal |
|
Designation : |
Office Executive |
|
Contact No.: |
91-20-32943040 / 24380091 |
|
Date : |
13.02.2014 |
LOCATIONS
|
Registered Office : |
A-103, Shilpin Building, Off Borsapada Road, Opposite Malhar Building,
Mahavir Nagar, Kandivali (West), Mumbai – 400067, Maharashtra, India |
|
Tel. No. : |
91-20-32943040 / 24380091 |
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Fax No. : |
Not Available |
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E-Mail : |
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Website : |
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Factory 1 : |
S. No. 132, H. No. 1/4/4, Premraj Industrial Estate, Shed No. B-2, 3, 4,
Dalvi Wadi, Nanded Phata, Dhairy, Pune – 411041, Maharashtra, India |
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Factory 2 : |
15 / 3, Survey No. Pandurang Industrial Estate, Nanded Phata, Pune,
Maharashtra, India |
DIRECTORS
As on 30.09.2013
|
Name : |
Mr. Ketan Harilal Mehta |
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Designation : |
Managing Director |
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Address : |
C-503/504,
Nisang Apartment, Opposite Woodland Hotel, Mahavir Nagar, Kandivali (West),
Mumbai – 400067, Maharashtra, India |
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Date of Birth/Age : |
10.01.1971 |
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Date of Appointment : |
07.02.2007 |
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PAN No.: |
AFHPM0792B |
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DIN No. : |
01238700 |
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Other Directorship :
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Name : |
Mr. Vinay Ramniklal Mehta |
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Designation : |
Director |
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Address : |
B-57-202, Chaitra
Co-Operative Housing Society Anand
Nagar, Dahisar (East), Mumbai - 400068, Maharashtra, India |
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Date of Birth/Age : |
09.03.1976 |
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Date of Appointment : |
08.03.2007 |
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DIN No. : |
01327907 |
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Name : |
Mr. Dinesh Babulal Sanjalia |
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Designation : |
Director |
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Address : |
A-206, Vijay
Park, Mathuradas Road, Near Atul Park, Kandivali (West), Mumbai – 400067,
Maharashtra, India |
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Date of Birth/Age : |
06.05.1972 |
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Date of Appointment : |
05.03.2011 |
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DIN No. : |
03447205 |
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Name : |
Mr. Rajendra Babulal Sanghvi |
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Designation : |
Director |
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Address : |
D/102, Riddhi
Avenui Co-Operative Housing. Society, Chikoowadi, Borivali (West), Mumbai –
400092, Maharashtra, India |
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Date of Birth/Age : |
01.07.1957 |
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Date of Appointment : |
02.02.2012 |
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DIN No. : |
05101164 |
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Other Directorship :
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MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2013
NOTE: SHAREHOLDING DETAILS FILE ATTACHED
As on 30.09.2013
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s), Non-resident
Indian(s) or Overseas Corporate bodies or Others |
7.69 |
|
Bodies corporate |
3.32 |
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Directors or relatives of Directors |
24.78 |
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Other top fifty shareholders |
64.21 |
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Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing of Transformer, Lamination, Crgo, Crngo, Toroidal Cores,
Cut and Stamping. |
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Products : |
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GENERAL INFORMATION
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No. of Employees : |
Not Available |
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Bankers : |
Not Available |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
U. D. Kachare and Company Chartered Accountants |
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Address : |
C6, Saraswati Apts,
Laxmi Nagar, Mahadevbhai Desai Road, Borivali (East), Mumbai – 400066,
Maharashtra, India |
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PAN
No. : |
AAHPK2745B |
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Enterprises significantly influenced: by key management personnel : |
¨ Ketan Electrical
Stamping ¨ Chhaya Impex |
CAPITAL STRUCTURE
As on 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
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|
|
|
|
5500000 |
Equity Shares |
Rs.10/- each |
Rs.55.000 Millions |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
|
|
|
5275200 |
Equity Shares |
Rs.10/- each |
Rs.52.752 Millions |
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FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
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|
I.
EQUITY AND LIABILITIES |
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|
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|
(1)Shareholders' Funds |
|
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(a) Share Capital |
52.752 |
52.752 |
51.000 |
|
(b) Reserves & Surplus |
60.057 |
56.436 |
10.361 |
|
(c) Money received against share warrants |
0.000 |
0.000 |
0.000 |
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|
|
|
|
(2) Share Application money pending
allotment |
0.000 |
0.000 |
32.500 |
|
Total Shareholders’ Funds (1) + (2) |
112.809 |
109.188 |
93.861 |
|
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|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.497 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
0.069 |
0.054 |
0.059 |
|
(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) |
0.566 |
0.054 |
0.059 |
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|
|
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(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
0.000 |
2.069 |
0.226 |
|
(b) Trade payables |
12.677 |
31.565 |
9.732 |
|
(c) Other current liabilities |
17.895 |
8.037 |
0.000 |
|
(d) Short-term provisions |
1.445 |
1.805 |
1.283 |
|
Total Current Liabilities (4) |
32.017 |
43.476 |
11.241 |
|
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TOTAL |
145.392 |
152.718 |
105.161 |
|
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II. ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
3.582 |
2.550 |
2.820 |
|
(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 |
5.065 |
59.309 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d)
Long-term Loan and Advances |
0.000 |
0.000 |
0.000 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.949 |
|
Total Non-Current Assets |
8.647 |
61.859 |
3.769 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
20.342 |
|
(b) Inventories |
28.675 |
47.862 |
44.742 |
|
(c) Trade receivables |
23.049 |
24.184 |
15.978 |
|
(d) Cash and cash equivalents |
75.696 |
4.553 |
8.013 |
|
(e) Short-term loans and advances |
8.954 |
10.736 |
11.517 |
|
(f) Other current assets |
0.371 |
3.524 |
0.800 |
|
Total Current Assets |
136.745 |
90.859 |
101.392 |
|
|
|
|
|
|
TOTAL |
145.392 |
152.718 |
105.161 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
80.935 |
91.343 |
58.791 |
|
|
|
Other Income |
4.626 |
3.219 |
1.459 |
|
|
|
TOTAL |
85.561 |
94.562 |
60.250 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
56.263 |
61.747 |
52.770 |
|
|
|
Purchases of Stock-in-Trade |
2.841 |
2.215 |
0.000 |
|
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
0.994 |
3.537 |
0.000 |
|
|
|
Employees benefits expense |
2.390 |
2.376 |
0.000 |
|
|
|
Other expenses |
15.549 |
17.419 |
3.737 |
|
|
|
TOTAL |
78.037 |
87.294 |
56.507 |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
7.524 |
7.268 |
3.743 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
0.498 |
0.016 |
0.199 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
7.026 |
7.252 |
3.544 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
0.429 |
1.424 |
0.509 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
6.597 |
5.828 |
3.035 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
2.976 |
1.801 |
1.015 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
3.621 |
4.027 |
2.020 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
18.751 |
35.870 |
NA |
|
|
TOTAL IMPORTS |
18.751 |
35.870 |
NA |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
0.69 |
0.76 |
0.60 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
4.23
|
4.26 |
3.35 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
8.15
|
6.38 |
0.05 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
4.70
|
6.24 |
2.89 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.06
|
0.05 |
0.03 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.00
|
0.02 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
4.27
|
2.09 |
9.02 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(INR
in Mlns.) |
(INR
in Mlns.) |
(INR
in Mlns.) |
|
Share Capital |
51.000 |
52.752 |
52.752 |
|
Reserves & Surplus |
10.361 |
56.436 |
60.057 |
|
Share Application money
pending allotment |
32.500 |
0.000 |
0.000 |
|
Net
worth |
93.861 |
109.188 |
112.809 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
0.497 |
|
Short term borrowings |
0.226 |
2.069 |
0.000 |
|
Total
borrowings |
0.226 |
2.069 |
0.497 |
|
Debt/Equity
ratio |
0.002 |
0.019 |
0.004 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(INR
in Mlns) |
(INR
in Mlns) |
(INR
in Mlns) |
|
Sales |
58.791 |
91.343 |
80.935 |
|
|
|
55.369 |
-11.394 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(INR
in Mlns) |
(INR
in Mlns) |
(INR
in Mlns) |
|
Sales |
58.791 |
91.343 |
80.935 |
|
Profit |
3.621 |
4.027 |
2.020 |
|
|
6.16% |
4.41% |
2.50% |
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 |
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 |
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 |
Yes |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
UNSECURED LOANS
|
PARTICULAR |
31.03.2013 (Rs.
In Millions) |
31.03.2012 (Rs.
In Millions) |
|
SHORT TERM
BORROWINGS |
|
|
|
Loans and advances from directors |
0.000 |
2.069 |
|
|
|
|
|
Total |
0.000 |
2.069 |
INDEX OF CHARGES
No Charges Exist for Company
OPERATIONS:
The sales of the
Company decreased from Rs.91.343 millions to Rs.80.935 millions as compared to
the last financial year. The other Income during the year was Rs.4.626 millions
as against Rs.3.219 millions in the previous year.
The Profit before
Depreciation, amortization and Tax decreased from Rs.7.252 millions to Rs.7.026
millions. The Profit after tax decreased from Rs.4.027 millions to Rs.3.621
millions registering a decrease of Rs. 0.406 millions over the preceding year.
FIXED ASSETS
¨
Plant and equipment
¨
Factory Equipments
¨
Furniture and fixtures
¨
Vehicles
¨ Office equipment
¨
Computer equipment’s
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.62.28 |
|
|
1 |
Rs.103.67 |
|
Euro |
1 |
Rs.85.17 |
INFORMATION DETAILS
|
Information Gathered
by : |
PDT |
|
|
|
|
Report Prepared
by : |
ANK |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
3 |
|
--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 |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
31 |
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.