|
Report Date : |
04.01.2014 |
IDENTIFICATION DETAILS
|
Name : |
EVERFLOW PETROFILS LIMITED |
|
|
|
|
Registered
Office : |
11, Ocalwadi, 3rd Floor, Vithalwadi, Kalbadevi,
Mumbai-400002, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
08.05.2003 |
|
|
|
|
Com. Reg. No.: |
11-140356 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 11.435 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U51909MH2003PLC140356 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUME07348F |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCE5852A |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer
and Exporter of polyester yarn, spun blended yarn, draw texturized yarn, fibre
yarn, viscose spun yarn, partially oriented yarn, polyester staple fibre and
polyester PET chips and cotton yarns. |
|
|
|
|
No. of Employees
: |
Not Available |
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 360000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow But Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having a moderate track record. There appears huge external borrowings recorded by the company which
seems to be increasing. 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. |
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 – September 30, 2013
|
Country Name |
Previous Rating (30.06.2013) |
Current Rating (30.09.2013) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
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.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
|
Rating |
B+(Long Term : Cash Credit Facility) |
|
Rating Explanation |
Have high risk of default. |
|
Date |
December 2013 |
|
Rating Agency Name |
ICRA |
|
Rating |
A4 (Short Term : Letter of Credit / Buyer’s Credit) |
|
Rating Explanation |
Have minimal degree of safety and carry very high credit risk. |
|
Date |
December 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.
LOCATIONS
|
Registered Office : |
11, Ocalwadi, 3rd Floor, Vithalwadi, Kalbadevi,
Mumbai-400002, Maharashtra, India |
|
Tel. No.: |
91-22-25447892 |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Corporate Office : |
599, Kapadia Chambers, 2nd Floor, Room No.10, Princess
Street, Marin Lines (East), Mumbai-400002, Maharashtra, India |
DIRECTORS
AS ON 30.09.2013
|
Name : |
Mr. Pinkesh Paras Jain |
|
Designation : |
Director |
|
Address : |
1601, Chaitya Tower, Shivdas Chapsi Marg, Near Sales Tax Office,
Mazgaon, Mumbai-400010, Maharashtra, India
|
|
Date of Birth/Age : |
22.06.1980 |
|
Date of Appointment : |
01.01.2006 |
|
DIN No.: |
00717153 |
Other Directorship:
|
S. No. |
CIN/LLPIN |
Name of the Company/ LLP |
Current designation of the Director/ Designated Partner |
Date of appointment at current designation |
Original date of appointment |
Date of cessation |
Company/ LLP Status |
Defaulting status |
|
1 |
U51909MH2003PLC140356
|
EVERFLOW
PETROFILS LIMITED |
Managing
director |
01/01/2006
|
01/01/2006
|
- |
Active
|
NO |
|
2 |
U37100MH2010PLC198513
|
EVERFLOW
ECO FRIENDLY PRODUCTS LIMITED |
Director
|
05/01/2010
|
05/01/2010
|
09/12/2011
|
Active
|
NO |
|
3 |
U70100MH1997PTC107177
|
PARIJVAL
ESTATE DEVELOPERS PRIVATE LIMITED |
Director
|
28/09/2013
|
25/10/2012
|
- |
Active
|
NO |
|
Name : |
Ms. Sapnaben Rakeshkumar Jain |
|
Designation : |
Director |
|
Address : |
1501, Chaitya Tower, Shivdas Chapsi Marg, Near Sales Tax Office,
Mazgaon, Mumbai-400010, Maharashtra, India
|
|
Date of Birth/Age : |
29.03.1972 |
|
Date of Appointment : |
10.05.2006 |
|
DIN No.: |
01484554 |
Other Directorship:
|
S. No. |
CIN/LLPIN |
Name of the Company/ LLP |
Current designation of the Director/ Designated Partner |
Date of appointment at current designation |
Original date of appointment |
Company/ LLP Status |
Defaulting status |
|
1 |
U51909MH2003PLC140356
|
EVERFLOW
PETROFILS LIMITED |
Director
|
10/05/2006
|
10/05/2006
|
Active
|
NO |
|
2 |
U37100MH2010PLC198513
|
EVERFLOW
ECO FRIENDLY PRODUCTS LIMITED |
Director
|
05/01/2010
|
05/01/2010
|
Active
|
|
|
Name : |
Ms. Alpa Pinkeshkumar Jain |
|
Designation : |
Director |
|
Address : |
1601, Chaitya Tower, Shivdas Chapsi Marg, Near Sales Tax Office, Mazgaon,
Mumbai-400010, Maharashtra, India |
|
Date of Birth/Age : |
28.12.1979 |
|
Date of Appointment : |
11.01.2012 |
|
DIN No.: |
05196028 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2013
|
Names of Shareholders |
No. of Shares |
|
Pinkesh P Jain |
2080 |
|
Rakesh P Jain |
400 |
|
Aruna Dinesh Kumar |
5000 |
|
Rakesh P Jain HUF |
180200 |
|
Ratanben P Jain |
362610 |
|
Apla P Jain |
276030 |
|
Sapna R Jain |
186030 |
|
Dharmesh J Shah |
23000 |
|
Yashwant J Shah |
20500 |
|
Pinkesh P Jain HUF |
57650 |
|
Hiteshkumar Suresh Kumar Jain |
30000 |
|
TOTAL
|
1143500 |
AS ON 30.09.2013
|
Equity Shares
Break Up |
Percentage of
Holding |
|
Directors or relatives of Directors |
100.00 |
|
TOTAL |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer
and Exporter of polyester yarn, spun blended yarn, draw texturized yarn,
fibre yarn, viscose spun yarn, partially oriented yarn, polyester staple
fibre and polyester PET chips and cotton yarns. |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
|||||||||||||||
|
|
|
|||||||||||||||
|
Bankers : |
·
Punjab National Bank, 335, Manimahal, Kalbadevi
Road, Mumbai-400002, Maharashtra, India ·
NKGSB Co-Operative Bank Limited, Laxmi Sadan, 361,
V P Road, Girgaum, Mumbai-400004, Maharashtra, India |
|||||||||||||||
|
|
|
|||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Mr. Vijay Jain Chartered Accountant |
|
Address : |
4th Floor, 402, Aniket Tower, Behind Stick Bowl Restaurant Uthalsar
Naka, Thane (West), Thane-400601, Maharashtra, India |
|
PAN No.: |
ABVPJ6733B |
CAPITAL STRUCTURE
AS ON 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2000000 |
Equity Shares |
Rs.10/- each |
Rs. 20.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1143500 |
Equity Shares |
Rs.10/- each |
Rs. 11.435
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 |
11.435 |
11.435 |
11.135 |
|
(b) Reserves & Surplus |
80.838 |
70.974 |
34.957 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
0.000 |
0.000 |
30.000 |
|
Total
Shareholders’ Funds (1) + (2) |
92.273 |
82.409 |
76.092 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
2.020 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current Liabilities (3) |
0.000 |
0.000 |
2.020 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
359.015 |
292.423 |
110.014 |
|
(b) Trade payables |
12.861 |
66.202 |
19.347 |
|
(c) Other current
liabilities |
48.920 |
0.000 |
0.000 |
|
(d) Short-term provisions |
30.990 |
0.689 |
1.368 |
|
Total Current Liabilities (4) |
451.786 |
359.314 |
130.729 |
|
|
|
|
|
|
TOTAL |
544.059 |
441.723 |
208.841 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
5.602 |
7.284 |
4.331 |
|
(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 |
2.329 |
4.085 |
1.694 |
|
(c) Deferred tax assets (net) |
0.297 |
0.131 |
0.112 |
|
(d) Long-term Loan and Advances |
0.000 |
0.000 |
0.000 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
8.228 |
11.500 |
6.137 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
155.046 |
119.575 |
51.752 |
|
(c) Trade receivables |
108.272 |
110.718 |
95.496 |
|
(d) Cash and cash
equivalents |
143.671 |
198.537 |
54.441 |
|
(e) Short-term loans and
advances |
39.111 |
1.393 |
1.015 |
|
(f) Other current assets |
89.731 |
0.000 |
0.000 |
|
Total Current Assets |
535.831 |
430.223 |
202.704 |
|
|
|
|
|
|
TOTAL |
544.059 |
441.723 |
208.841 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
2508.337 |
1608.671 |
1304.489 |
|
|
|
Other Income |
18.508 |
0.000 |
0.317 |
|
|
|
TOTAL (A) |
2526.845 |
1608.671 |
1304.806 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Purchase of Stock In Trade |
2501.465 |
1650.664 |
1285.121 |
|
|
|
Employee benefits expenses |
2.945 |
5.137 |
16.314 |
|
|
|
Other Expenses |
11.152 |
6.615 |
7.113 |
|
|
|
Changes in inventories of Finished goods, work in progress and stock
in trade |
(35.471) |
(67.822) |
(20.647) |
|
|
|
TOTAL (B) |
2480.091 |
1594.594 |
1287.901 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
46.754 |
14.077 |
16.905 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES (D) |
30.200 |
3.808 |
7.719 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
16.554 |
10.269 |
9.186 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
1.699 |
1.067 |
1.218 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
14.855 |
9.202 |
7.968 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
4.991 |
2.885 |
3.806 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
9.864 |
6.317 |
4.162 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
8.63 |
-- |
-- |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
0.39
|
0.39 |
0.32 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
0.59
|
0.57 |
0.61 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.74
|
2.10 |
3.85 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.16
|
0.11 |
0.10 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
3.89
|
3.55 |
1.47 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.19
|
1.20 |
1.55 |
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 |
No |
|
10] |
Designation of contact
person |
No |
|
11] |
Turnover of firm for last
three years |
Yes |
|
12] |
Profitability for last
three years |
Yes |
|
13] |
Reasons for variation
<> 20% |
----- |
|
14] |
Estimation for coming
financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
No |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details
(if applicable) |
No |
|
21] |
Market information |
----- |
|
22] |
Litigations that the firm
/ promoter involved in |
----- |
|
23] |
Banking Details |
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 |
Yes |
|
Unsecured Loan |
Rs.
In Millions 31.03.2013 |
Rs.
In Millions 31.03.2012 |
|
Short Term
Borrowings |
|
|
|
Loans and advances from directors |
7.701 |
3.988 |
|
Loans and advances from others |
74.724 |
0.000 |
|
|
|
|
|
TOTAL |
82.425 |
3.988 |
INDEX OF CHARGES
|
S. No |
Charge ID |
Date of Charge Creation /Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN |
|
1 |
10153125 |
16/04/2009 |
1,924,000.00 |
PUNJAB NATIONAL BANK |
353 MANI MAHAL KALBADEVI ROAD KALBADEVI,
MUMBAI, |
A60232485 |
|
2 |
10033222 |
10/11/2012 * |
380,000,000.00 |
PUNJAB NATIONAL BANK |
335,MANIMAHAL, KALBADEVI ROAD, MUMBAI,
MAHARASHTRA - 400002, INDIA |
B72339781 |
|
* Date of charge modification |
||||||
FIXED ASSETS
·
Plant and equipment
·
Furniture and fixtures
·
Vehicles
·
Office equipment
·
Computer equipments
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. 62.40 |
|
|
1 |
Rs. 102.53 |
|
Euro |
1 |
Rs. 85.19 |
INFORMATION DETAILS
|
Report Prepared
by : |
DPT |
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 |
2 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
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.