MIRA
INFORM REPORT
|
Report Date : |
04.01.2014 |
IDENTIFICATION DETAILS
|
Name : |
DYNA GLYCOLS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
106/108, Shivam Chambers, |
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|
Country : |
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|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
01.09.2006 |
|
|
|
|
Com. Reg. No.: |
11-164262 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.4.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24119MH2006PTC164262 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
mumD14428B |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
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|
|
|
Line of Business
: |
Manufacturer and Exporter of Pharmaceuticals Chemicals. |
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|
|
|
No. of Employees
: |
30 (Approximately) [In Office – 4 and In Factory – 26] |
RATING & COMMENTS
|
MIRA’s Rating : |
B (28) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 160000 |
|
|
|
|
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. There appears dip in the profit of the company during 2013. However, trade relations are fair. Business is active. Payments are
reported to be slow but correct. The company can be considered for business dealing with some caution. Note: The company has recorded different figure denoting profit in its
Director Report’s as well as Balance Sheet and its Schedules. No clarification has been received from Mr. Fransis, the concern
person of the subject company. So, we are considering the Balance Sheet
figure in order to successfully rate the company. |
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
India’s current account
deficit narrowed in the quarter ended September as government measures to curb
imports, especially gold, kicked in. The current account deficit, the
excess of a country’s imports of goods and services over exports, narrowed to $
5.2 billion from $ 21 billion in the year ago period, according to provisional
Reserve Bank of India data. Finance Minister P. Chidambaram said the CAD for
the year will be less than $ 60 billion or 3 per cent of GDP and the latest
data suggests the government may achieve the target.
India was ranked 94th
among the world’s most corrupt nations list. Denmark and New Zealand topped as
the cleanest while Somalia emerged as the most corrupt.
India’s services
sector activity witnessed a moderate improvement in November over the previous
month, even while indicating the fifth successive monthly contraction,
according the HSBC survey.
$53 million
estimated losses suffered by India due to phishing attacks during the third
quarter, according to a study by RSA. India ranks fourth in the list of nations
hit by phishing attacks. The US remained at the top of the charts. Phishing is
the process of acquiring information such as user names, passwords and credit
card details by sending e-mails disguised as official mails.
Rs.4080 million worth
of mobile-phone-based transactions by July 2013 compared to Rs.260 million in
September, 2012, according to Deloitte report. The number of transactions has
shot up from 94000 to 701000.
India aims to earn
Rs.400000 million from the bandwidth auction set for January. The merger and
acquisition guidelines, cleared by a group of ministers, will be out before the
auction begins so that players can make informed decisions on the auctions.
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 PARTED BY (GENERAL DETAILS)
|
Name : |
Mr. Fransis |
|
Designation : |
Not Divulged |
|
Contact No.: |
91-22-26764099 |
|
Date : |
02.01.2014 |
LOCATIONS
|
Registered Office : |
106/108, Shivam Chambers, S V Road, Goregaon (West), Mumbai – 400062,
Maharashtra, India |
|
Tel. No.: |
91-22-26764099/26764172/73 |
|
Mobile No.: |
91-9833992569 [Mr. Francises] 91-9909008957 [Mr. G. S. Mariya] |
|
Fax No.: |
91-22-26764054 |
|
E-Mail : |
ykdesai@mtnl.net.in hildose@vsnl.com dynaglyco@vsnl.net |
|
Area : |
2500 Sq. ft |
|
Location : |
Owned |
|
|
|
|
Factory : |
Plot No. 260-B, Sector 4, SEZ, kandla, Gandhidham-370220, Gujarat, India |
|
Tel No.: |
91-2836-253086/87/658201 |
|
Location : |
Owned |
DIRECTORS
As on 30.09.2013
|
Name : |
Mr. Zubin Keki Gandhi |
|
Designation : |
Director |
|
Address : |
½ MH Hari Niwas 1st Floor, 19 Mathew Road, Opera House,
Mumbai – 400 004, Maharashtra, India |
|
Date of Birth/Age : |
30.11.1968 |
|
Date of Appointment : |
10.01.2007 |
|
Din No.: |
00664632 |
|
|
|
|
Name : |
Kersi Homi Tangri |
|
Designation : |
Director |
|
Address : |
Flat No. 5, Fiona, Juhu Tara Road, Mumbai – 400 049, Maharashtra,
India |
|
Date of Birth/Age : |
03.12.1963 |
|
Date of Appointment : |
01.09.2006 |
|
Din No.: |
01215877 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2013
|
Names of Shareholders |
No. of Shares |
|
Kersi Homi Tangri |
95000 |
|
Zubin Keki Gandhi |
95000 |
|
Mahesh Hakmichand Doshi |
95000 |
|
Amol Ashok Walke |
95000 |
Equity Share Break up (Percentage of Total Equity)
As on 30.09.2013
|
Category |
Percentage |
|
Directors or relatives of Directors |
47.50 |
|
Other top fifty shareholders |
52.50 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Pharmaceuticals Chemicals. |
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|
|
|
Exports : |
|
|
Products : |
Pharmaceuticals Chemicals |
|
Countries : |
·
Pakistan ·
US ·
Turkey ·
Australia |
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|
|
|
Imports : |
|
|
Products : |
Raw Material |
|
Countries : |
·
Taiwan ·
Malaysia |
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|
|
|
Terms : |
|
|
Selling : |
Depends |
|
|
|
|
Purchasing : |
Depends |
PRODUCTION STATUS (AS ON 31.03.2013)
|
Particulars |
Unit |
Actual
Production |
|
CO 40 |
Kg. |
198920 |
|
NP 15 |
Kg. |
129199 |
|
CSA AFO |
Kg. |
257729 |
|
F 68 |
Kg. |
197137 |
|
LA7 |
Kg. |
108953 |
|
OCA 10 |
Kg. |
148552 |
|
PEG 300 |
Kg. |
398647 |
|
TDA 55 |
Kg. |
303166 |
|
CSA MAFA |
Kg. |
230339 |
|
OA2570(2EHA.2570) |
Kg. |
139932 |
|
TDA 09 |
Kg. |
146911 |
|
Others |
Kg. |
-- |
GENERAL INFORMATION
|
No. of Employees : |
30 (Approximately) [In Office – 4 and In Factory – 26] |
||||||||||||||||||||||||||||||
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Bankers : |
The Zoroastrian Co-Operative
Bank Limited, Shop No.6, Onkar, Opposite Oberoi Mall, Dindoshi, Film City
Road, Goregaon East, Mumbai - 400097, Maharashtra, India |
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Facilities : |
|
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|
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Banking
Relations : |
-- |
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|
|
|
Financial Institution: |
·
Tata Capital Financial Services Limited, One
Forbes, Dr. V. B. Gandhi Marg, Fort, Mumbai - 400001, Maharashtra, India ·
3i Infotech Trusteeship Services Limited, 3rd To
6th Floor, International Infotech Park, Tower No.5, Vashi Railway Station
Complex, Vashi, Navi Mumbai - 400703, Maharashtra, India |
|
|
|
|
Auditors : |
|
|
Name : |
B Y and Associates Chartered Accountants |
|
Address : |
510-513, Apeejay House, 130, Mumbai Samachar Marg, Fort, Mumbai –
400023, Maharashtra, India |
|
PAN N Income-tax PAN of auditor or auditor's firm : |
AAFFB0462N |
CAPITAL STRUCTURE
As on 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
500000 |
Equity Shares |
Rs.10/- each |
Rs. 5.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
400000 |
Equity Shares |
Rs.10/- each |
Rs. 4.000
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
4.000 |
4.000 |
4.000 |
|
(b) Reserves & Surplus |
37.094 |
33.140 |
26.367 |
|
(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) |
41.094 |
37.140 |
30.367 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
16.802 |
26.893 |
28.330 |
|
(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 |
2.612 |
0.000 |
0.000 |
|
Total Non-current Liabilities (3) |
19.414 |
26.893 |
28.330 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
69.768 |
41.085 |
49.046 |
|
(b) Trade payables |
120.930 |
57.662 |
70.063 |
|
(c) Other current
liabilities |
3.299 |
3.510 |
4.960 |
|
(d) Short-term provisions |
1.175 |
0.000 |
0.000 |
|
Total Current Liabilities (4) |
195.172 |
102.257 |
124.069 |
|
|
|
|
|
|
TOTAL |
255.680 |
166.290 |
182.766 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
51.787 |
56.656 |
60.811 |
|
(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 |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
0.165 |
0.161 |
0.000 |
|
(d) Long-term Loan and Advances |
3.176 |
1.267 |
0.470 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
55.128 |
58.084 |
61.281 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
87.389 |
51.833 |
48.713 |
|
(c) Trade receivables |
94.661 |
52.118 |
69.407 |
|
(d) Cash and cash
equivalents |
5.565 |
2.922 |
2.445 |
|
(e) Short-term loans and
advances |
12.937 |
1.333 |
0.920 |
|
(f) Other current assets |
0.000 |
0.000 |
0.000 |
|
Total Current Assets |
200.552 |
108.206 |
121.485 |
|
|
|
|
|
|
TOTAL |
255.680 |
166.290 |
182.766 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
416.346 |
387.667 |
|
|
|
Other Income |
|
0.128 |
0.110 |
|
|
|
TOTAL (A) |
NA |
416.474 |
387.777 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of material consumed |
|
357.758 |
342.921 |
|
|
|
Changes in inventories of finished goods work in progress and stock in trade |
|
(3.672) |
(14.818) |
|
|
|
Employees benefits expenses |
|
6.855 |
5.450 |
|
|
|
Other Expenses |
|
32.057 |
30.769 |
|
|
|
TOTAL (B) |
NA |
392.998 |
364.322 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
|
23.476 |
23.455 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
|
7.103 |
4.134 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
|
16.373 |
19.321 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
|
8.204 |
6.837 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
(12.451) |
8.169 |
12.484 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
0.000 |
1.396 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
(12.451) |
6.773 |
12.484 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
33.140 |
26.367 |
13.883 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
20.689 |
33.140 |
26.367 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
119.147 |
107.207 |
87.784 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
(31.13) |
16.93 |
31.21 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
NA
|
1.63 |
3.22 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
NA
|
1.96 |
3.22 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(4.87)
|
4.92 |
6.72 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth)S |
|
(0.30)
|
0.22 |
0.41 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
2.11
|
1.83 |
2.55 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.03
|
1.06 |
0.98 |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES
OF LONG-TERM DEBT DETAILS:
|
Particulars |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
(Rs. In Millions) |
||
|
Current maturities of long-term debt |
0.000 |
0.000 |
0.000
|
|
|
|
|
|
|
Total |
0.000 |
0.000 |
0.000
|
|
Sr. No. |
Check List by Info Agents |
Available in
Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
Yes |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
Yes |
|
9] |
Name of person contacted |
Yes |
|
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 |
Yes |
|
20] |
Export / Import details (if
applicable) |
Yes |
|
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 |
UNSECURED LOAN
|
PARTICULARS |
31.03.2013 (Rs.
in Millions) |
31.03.2012 (Rs.
in Millions) |
|
Long-term
Borrowings |
|
|
|
Loans and advances: From Related Parties |
0.000 |
22.600 |
|
From Others Terms of payment have not been stipulated |
1.468 |
4.293 |
|
Short-term
borrowings |
|
|
|
from Banks: Standard Chartered Bank |
25.566 |
20.226 |
|
|
|
|
|
Total |
27.034 |
47.119 |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION
|
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
10434671 |
19/06/2013 |
35,000,000.00 |
TATA CAPITAL FINANCIAL SERVICES LIMITED |
ONE FORBES,, DR.
V. B. GANDHI MARG, FORT, MUMBAI, |
B78656048 |
|
2 |
10420700 |
23/02/2013 |
40,000,000.00 |
THE ZOROASTRIAN CO-OPERATIVE BANK LIMITED |
SHOP NO.6,
ONKAR, OPP. OBEROI MALL, DINDOSHI, FILM CITY ROAD, GOREGAON EAST,, MUMBAI,
MAHARASHTRA - 400097, INDIA |
B73451791 |
FIXED ASSETS
Tangible Assets
·
Buildings
·
Wip
·
Civil Work
·
Plant And Machinery
·
Chilling Plant
·
Nitrogen Plant
·
Transportation and Inst ( P And Pump)
·
Stores and Spares
·
Boiler
·
Effluent Treatment Plant
·
Tank
·
Electrification
·
Fire Safety Equipments
·
Lab Equipment
·
Office Equipments
·
Furniture and Fixtures
·
Air Conditioner
·
Fork Lift
·
Computer
·
Vehicles
·
Digital Camera
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 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.62.41 |
|
|
1 |
Rs.102.54 |
|
Euro |
1 |
Rs.85.20 |
INFORMATION DETAILS
|
Information Gathered
by : |
PDT |
|
|
|
|
Report Prepared
by : |
KVT |
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 |
1 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
3 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
28 |
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.