|
Report Date : |
07.01.2014 |
IDENTIFICATION DETAILS
|
Name : |
SANDHYA ORGANIC CHEMICALS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Plot No. 808/A/2, 3rd Phase, G.I.D.C. Bulsar, Vapi – 396
195, |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
27.03.1992 |
|
|
|
|
Com. Reg. No.: |
04-017399 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.27.600 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24110GJ1992PTC017399 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
The Company is
engaged in the Business of Manufactures of Chemicals Products. |
|
|
|
|
No. of Employees
: |
100 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 479000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
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|
|
|
Comments : |
Subject is an established company having satisfactory track record. There appears some dip in the profits of the company during current
year. However, networth of the company is satisfactory, trade relations are
reported as fair. Business is active. Payments are reported to be usually
correct and as per commitment. The company can be considered normal 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.
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.
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 : |
Plot No. 808/A/2, 3rd Phase, G.I.D.C. Bulsar, Vapi – 396
195, |
|
Tel. No.: |
91-260-2400235 |
|
Fax No.: |
91-260-2430875 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Administrative and Sales Office : |
312, Nand Prem, 142, |
|
Tel. No.: |
91-22-61565555 |
|
Fax No.: |
91-22-26104201 |
|
E-Mail : |
DIRECTORS
As on 30.09.2013
|
Name : |
Mr. Kantilal M. Koli |
|
Designation : |
Director |
|
Address : |
Plot No. 203-204, G.I.D.C. Residential Area,
G.I.D.C., Vapi - 396 195, |
|
Date of Birth/Age : |
01.03.1948 |
|
Date of Appointment : |
27.03.1992 |
|
DIN No. : |
01042123 |
|
|
|
|
Name : |
Ms. Sandhya K. Koli |
|
Designation : |
Director |
|
Address : |
Plot No. 203-204, G.I.D.C. Residential Area,
G.I.D.C., Vapi - 396 195, |
|
Date of Birth/Age : |
14.12.1955 |
|
Date of Appointment : |
27.03.1992 |
|
DIN No. : |
02265576 |
|
|
|
|
Name : |
Mr. Smit K. Patel |
|
Designation : |
Director |
|
Address : |
Plot No. 203-204, G.I.D.C. Residential Area,
G.I.D.C., Vapi - 396 195, |
|
Date of Birth/Age : |
19.06.1974 |
|
Date of Appointment : |
30.09.2004 |
|
DIN No. : |
01042322 |
|
|
|
|
Name : |
Ms. Snehal K. Patel |
|
Designation : |
Director |
|
Address : |
Plot No. 203-204, G.I.D.C. Residential Area,
G.I.D.C., Vapi - 396 195, |
|
Date of Birth/Age : |
26.12.1978 |
|
Date of Appointment : |
30.09.2004 |
|
DIN No. : |
01042403 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2013
|
Names of Shareholders |
No. of Shares |
|
Kantilal M. Koli |
180000 |
|
Sandhya K. Koli |
51000 |
|
Smit K. Patel |
24600 |
|
Snehal Patel |
20400 |
|
|
|
|
Total |
276000 |
As on 30.09.2013
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 : |
The Company is
engaged in the Business of Manufactures of Chemicals Products. |
GENERAL INFORMATION
|
No. of Employees : |
100 (Approximately) |
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Bankers : |
The Hong Kong
and Shanghai Banking Corporation Limited, NSC Retail Assets; Network Service
Centre, Sudam Kalu Ahira Marg; Worli, Mumbai - 400025, Maharashtra, India |
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Facilities : |
NOTE: LONG TERM
BORROWINGS VEHICLE LOAN Indian Rupee
Auto Premium loan Account Number 15776940 from HDFC Bank carries interest @
9.75 % p.a. The loan is repayable in 60 monthly installments of Rs.0.083
million each along with interest from the date of loan, viz, 7 January 2010.
The loan is secured by hypothecation of respective vehicle. Indian
Rupee loan from HDFC Bank carries interest @ 10.50 % p.a. The loan is
repayable in 36 monthly installments of Rs.0.018 million each along with
interest from the date of loan, viz, 12 May 2010. The loan is secured by
hypothecation of respective vehicle, however the loan is fully repaid in the
current year. Indian
Rupee loan from HDFC Bank carries interest @ 10.50 % p.a. The loan is
repayable in 36 monthly installments of Rs.0.018 million each along with
interest from the date of loan, viz, 12 May 2010. The loan is secured by
hypothecation of respective vehicle, however the loan is fully repaid in the
current year. Indian
Rupee loan from HDFC Bank carries interest @ 8.75 % p.a. The loan is
repayable in 36 monthly installments of Rs.0.057 million each along with
interest from the date of loan, viz, 11 August 2010. The loan is secured by hypothecation
of respective vehicle. PROPERTY LOAN Home loan obtain
from HSBC Bank of Rs 3.650 millions in the month of July 2002 for Residential
Flat at 601 first floor, Everest Residency, park Road Ville Parle East Mumbai
400057. The loan is repayable in is taken184 monthly installments of Rs.0.029
million each along with interest the first Installment being Due on 15th
July 2002. The loan is secured by hypothecation of said Residential Flat, however the loan is fully repaid in the current year. Home loan obtain
from HSBC Bank of Rs 3.650 millions in the month of July 2002 for Residential
Flat at 602 first floor, Everest Residency, park Road Ville Parle East Mumbai
400057. The loan is repayable in is taken184 monthly installments of Rs.0.027
million each along with interest the first Installment being Due on 15th
July 2002.The loan is secured by hypothecation of said Residential Flat, however the loan is fully repaid in the current year. Home loan obtain
from HSBC Bank of Rs 6.500 millions in the month of March 2004 for office
premises at 312, 3rd floor, Nand Prem, Ville Parle East. Mumbai 400057. The
loan is repayable in is taken 180 monthly installments of Rs.0.065 million
each along with interest the first Installment being Due on 15 April 2004.
The loan is secured by hypothecation of office premises, however the loan is fully repaid in the current year. SHORT TERM
BORROWINGS Nature of Securities Given for Secured Short Term
(Repayable on Demand / cash credit facility) Borrowing from Bank. The Sanction
Limit of working Capital Loan is Rs 4.000 million (P.Y. Rs 4.000 million). The working capital Loan is secured by
hypothecation of inventory and trade receivables and equitable mortgage of
Factory Land and Building of the company. Details of Guarantees Provided by
Directors/Others Term Loan, is
Secured By The Way Of Demand Promissory Note executed by the Company, Letter
Of Installment with Acceleration Clause, Composite Undertaking. Term Loans
Are Also Personally Guaranteed By The Individual Directors of the Company and
by Sandhya Dyes and Chemicals, Sandhya Industrial Chemicals and S.M.
Chemicals in the form of Corporate Guarantee. |
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Mamta R. Gupta Chartered Accountants |
|
Address : |
Plot No.H/403, Chanod Bunglow Area, Behind Harita Technology
Institute, G.I.D.C., Vapi – 396 195, |
|
PAN
No. : |
AGKPA5781E |
|
|
|
|
Enterprises in
which control exists : |
v Sandhya
Industrial Chemicals v S M Chemicals v Sandhya Dyes and
Chemicals |
CAPITAL STRUCTURE
As on 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
300000 |
Equity Shares |
Rs.100/- each |
Rs.30.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
276000 |
Equity Shares |
Rs.10/- each |
Rs.27.600 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 |
27.600 |
27.600 |
27.600 |
|
(b) Reserves & Surplus |
92.298 |
82.892 |
61.253 |
|
(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) |
119.898 |
110.492 |
88.853 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.461 |
7.304 |
9.429 |
|
(b) Deferred tax liabilities (Net) |
3.000 |
2.378 |
2.384 |
|
(c) Other long term liabilities |
0.000 |
0.000 |
0.500 |
|
(d) long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current Liabilities (3) |
3.461 |
9.682 |
12.313 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
33.958 |
21.577 |
22.392 |
|
(b) Trade payables |
25.525 |
15.718 |
15.949 |
|
(c) Other current
liabilities |
22.573 |
10.066 |
12.349 |
|
(d) Short-term provisions |
3.239 |
6.655 |
3.495 |
|
Total Current Liabilities (4) |
85.295 |
54.016 |
54.185 |
|
|
|
|
|
|
TOTAL |
208.654 |
174.190 |
155.351 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
57.841 |
37.095 |
38.501 |
|
(ii) Intangible Assets |
0.983 |
0.000 |
0.000 |
|
(iii) Capital work-in-progress |
0.000 |
16.538 |
7.628 |
|
(iv)
Intangible assets under development |
1.980 |
1.574 |
0.853 |
|
(b) Non-current Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
25.952 |
29.352 |
25.043 |
|
(e) Other Non-current assets |
8.608 |
12.461 |
4.885 |
|
Total Non-Current Assets |
95.364 |
97.020 |
76.910 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
36.243 |
25.030 |
31.738 |
|
(c) Trade receivables |
37.784 |
31.436 |
33.585 |
|
(d) Cash and cash
equivalents |
27.261 |
17.843 |
8.292 |
|
(e) Short-term loans and
advances |
9.899 |
2.852 |
4.811 |
|
(f) Other current assets |
2.103 |
0.009 |
0.015 |
|
Total Current Assets |
113.290 |
77.170 |
78.441 |
|
|
|
|
|
|
TOTAL |
208.654 |
174.190 |
155.351 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
Less |
TAX |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
12.614 |
24.846 |
21.724 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Revenue from Export on FOB basis |
33.951 |
22.831 |
25.371 |
|
|
TOTAL EARNINGS |
33.951 |
22.831 |
25.371 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
53.543 |
27.709 |
36.288 |
|
|
TOTAL IMPORTS |
53.543 |
27.709 |
36.288 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
45.70 |
90.02 |
78.71 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.29
|
0.26 |
0.36 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.33
|
1.43 |
1.45 |
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 |
Yes |
|
9] |
Name of person contacted |
No |
|
10] |
Designation of contact
person |
No |
|
11] |
Turnover of firm for last
three years |
No |
|
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 |
UNSECURED LOANS
|
PARTICULAR |
31.03.2013 (Rs.
in Millions) |
31.03.2012 (Rs.
in Millions) |
|
SHORT TERM
BORROWINGS |
|
|
|
Loans and advance from related parties |
0.230 |
0.230 |
|
|
|
|
|
Total |
0.230 |
0.230 |
INDEX OF CHARGES
|
.No. |
Charge ID |
Date of Charge Creation/Modification
|
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10390556 |
06/12/2012 |
18,695,000.00 |
KOTAK MAHINDRA BANK LIMITED |
36-38A, NARIMAN BHAVAN, 227,D, NARIMAN POINT, MUMBAI, Maharashtra -
400021, INDIA |
B63571020 |
|
2 |
90099037 |
10/08/1999 |
4,500,000.00 |
GUJARAT STATE FINANCIAL CORPORATION |
JALDARSHAN BUILDING, ASHRAM ROAD, AHMEDABAD, Gujarat - 390009, INDIA |
- |
|
3 |
90098530 |
11/09/2004 * |
2,700,000.00 |
BANK OF BARODA |
VAPI INDUSTRIAL ESTATE BRANCH, VAPI, VALSAD, Gujarat, INDIA |
- |
|
4 |
90097745 |
15/10/2011 * |
41,000,000.00 |
BANK OF BARODA |
VAPI INDUSTRIAL ESTATE (SSI) BRANCH, CM - 14, G. |
B24349623 |
* Date of charge modification
FIXED ASSETS
v
Leasehold Land
v
Building
v
Building Residential
v
Plant and Machinery
v
Furniture and Fixtures
v Computer
v
Vehicles
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.62.33 |
|
|
1 |
Rs.101.99 |
|
Euro |
1 |
Rs.84.61 |
INFORMATION DETAILS
|
Report Prepared
by : |
ANK |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
NO |
|
--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.