MIRA
INFORM REPORT
|
Report Date : |
10.01.2014 |
IDENTIFICATION DETAILS
|
Name : |
GANDHI AUTOMATIONS PRIVATE LIMITED (w.e.f. 24.03.2008) |
|
|
|
|
Formerly Known
As : |
GANDHI ENTRANCE AUTOMATIONS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
2nd Floor, Chawda Commercial Centre, Chincholi Bunder, Link
Road, Malad (West), Mumbai – 400064, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
21.11.2003 |
|
|
|
|
Com. Reg. No.: |
11-143240 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 9.500 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U31909MH2003PTC143240 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMG08978E |
|
|
|
|
PAN No.: [Permanent Account No.] |
AACCG0522G |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacture of Rolling Shutters, Sliding Gate and Distributors of Entrance
Automation
Systems and Warehouse Equipments. |
|
|
|
|
No. of Employees
: |
Not Divulged |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (44) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 540000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track record. Latest financial of 2013 is not available with us. As per of 2012, financial condition of the company appears to be
decent. Trade relation reported to be fair. Business is active. Payment terms
are reported to be usually correct. The company can be considered for business dealing at usual trade terms
and conditions. Note: - Due to printing error we have given rating on basis on balance
sheet of 2012. |
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.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long term rating: “BBB” |
|
Rating Explanation |
Moderate credit quality and average credit
risk. |
|
Date |
28.06.2013 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short term rating: “A3+” |
|
Rating Explanation |
Moderate degree of safety and higher credit
risk. |
|
Date |
28.06.2013 |
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 : |
Mr. Deepti |
|
Designation : |
Accounts Executive |
|
Contact No.: |
91-22-66720200 |
|
Date : |
09.01.2014 |
LOCATIONS
|
Registered Office : |
2nd Floor, Chawda Commercial Centre, Chincholi Bunder, Link
Road, Malad (West), Mumbai – 400064, Maharashtra, India |
|
Tel. No.: |
91-22-66720200/ 66720300 (200 lines) |
|
Fax No.: |
91-22-66720201 |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
DIRECTORS
As on: 30.09.2013
|
Name : |
Mr. Samir Sureshchandra Gandhi |
|
Designation : |
Whole Time Director |
|
Address : |
E-1501, Kukreja Palace II, |
|
Date of Birth/Age : |
05.10.1968 |
|
Date of Appointment : |
21.11.2003 |
|
DIN No.: |
00040981 |
|
|
|
|
Name : |
Mr. Kartik Sureshchandra Gandhi |
|
Designation : |
Whole Time Director |
|
Address : |
E-1301, Kukreja Palace II, |
|
Date of Birth/Age : |
10.09.1974 |
|
Date of Appointment : |
21.11.2003 |
|
DIN No.: |
00055915 |
KEY EXECUTIVES
|
Name : |
Mr. Deepti |
|
Designation : |
Accounts Executive |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 30.09.2013
|
Names of Shareholders |
|
No. of Shares |
|
Samir Sureshchandra Gandhi Kartik Sureshchandra Gandhi |
|
209000 |
|
Samir Sureshchandra Gandhi Nishita Samir Gandhi |
|
133000 |
|
Nishita Samir Gandhi Samir Sureshchandra Gandhi |
|
90250 |
|
Kartik Sureshchandra Gandhi Samir Sureshchandra Gandhi |
|
209000 |
|
Kartik Sureshchandra Gandhi Hiral Kartik Gandhi |
|
133000 |
|
Hiral Kartik Gandhi Kartik Sureshchandra Gandhi |
|
90250 |
|
Ansuya Sureshchandra Gandhi Samir Sureshchandra Gandhi Kartik Sureshchandra Gandhi |
|
85500 |
|
|
|
|
|
Total |
|
950000 |
Equity Share Break up (Percentage of Total Equity)
As on: 30.09.2013
|
Category |
|
Percentage |
|
|
|
|
|
Directors or relatives of directors |
|
100.00 |
|
|
|
|
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacture of Rolling Shutters, Sliding Gate and Distributors of Entrance
Automation
Systems and Warehouse Equipments. |
GENERAL INFORMATION
|
No. of Employees : |
Not Divulged |
|
|
|
|
Bankers : |
· Citi Bank N. A. Citi Tower, Dr. S. S. Rao Road, Parel, Mumbai - 400012, Maharashtra, India · Bank of Maharashtra, Ghatkopar East Branch, Neelkanth Krupa, R. B. Mehta Marg, Ghatkopar (East),, Mumbai - 400077, Maharashtra, India |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
V.J. SHAH and Company Chartered Accountants |
|
Address : |
19/21 Bora Bazar Street, 1st Floor, Fort, Mumbai – 400001,
Maharashtra, India |
|
PAN No.: |
AAAFV0230F |
CAPITAL STRUCTURE
As on: 30.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1000000 |
Equity Shares |
Rs.10/- each |
Rs. 10.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
950000 |
Equity Shares |
Rs.10/- each |
Rs. 9.500
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES
OF FUNDS |
|
31.03.2012 |
31.03.2011 |
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
9.500 |
1.000 |
|
(b) Reserves & Surplus |
|
126.776 |
99.337 |
|
(c) Money received
against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2)
Share Application money pending allotment |
|
0.000 |
0.000 |
|
Total Shareholders’ Funds (1) + (2) |
|
136.276 |
100.337 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term
borrowings |
|
28.093 |
29.384 |
|
(b) Deferred tax liabilities (Net) |
|
0.000 |
0.000 |
|
(c) Other long
term liabilities |
|
0.000 |
0.000 |
|
(d) long-term provisions |
|
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
|
28.093 |
29.384 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
|
90.501 |
77.692 |
|
(b)
Trade payables |
|
26.595 |
45.913 |
|
(c)
Other current liabilities |
|
37.286 |
47.569 |
|
(d) Short-term
provisions |
|
9.595 |
6.225 |
|
Total Current
Liabilities (4) |
|
163.977 |
177.399 |
|
|
|
|
|
|
TOTAL |
|
328.346 |
307.120 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
|
112.963 |
101.611 |
|
(ii)
Intangible Assets |
|
0.636 |
0.059 |
|
(iii)
Capital work-in-progress |
|
1.446 |
4.948 |
|
(iv) Intangible assets under development |
|
0.295 |
0.000 |
|
(b) Non-current
Investments |
|
0.013 |
1.895 |
|
(c) Deferred tax
assets (net) |
|
0.291 |
0.503 |
|
(d) Long-term Loan and Advances |
|
4.206 |
3.819 |
|
(e) Other
Non-current assets |
|
0.000 |
0.000 |
|
Total Non-Current
Assets |
|
119.850 |
112.835 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
|
0.000 |
0.000 |
|
(b)
Inventories |
|
95.851 |
87.898 |
|
(c)
Trade receivables |
|
92.468 |
84.727 |
|
(d) Cash
and cash equivalents |
|
6.563 |
8.947 |
|
(e)
Short-term loans and advances |
|
13.548 |
12.491 |
|
(f)
Other current assets |
|
0.066 |
0.222 |
|
Total
Current Assets |
|
208.496 |
194.285 |
|
|
|
|
|
|
TOTAL |
|
328.346 |
307.120 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
1.000 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
61.050 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
62.050 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
69.875 |
|
|
2] Unsecured Loans |
|
|
7.023 |
|
|
TOTAL BORROWING |
|
|
76.898 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
138.948 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
59.336 |
|
|
Capital work-in-progress |
|
|
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.000 |
|
|
DEFERREX TAX ASSETS |
|
|
0.592 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
66.655
|
|
|
Sundry Debtors |
|
|
40.723
|
|
|
Cash & Bank Balances |
|
|
2.226
|
|
|
Other Current Assets |
|
|
16.245
|
|
|
Loans & Advances |
|
|
11.415
|
|
Total
Current Assets |
|
|
137.264
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditor |
|
|
27.784 |
|
|
Other Current Liabilities |
|
|
24.046
|
|
|
Provisions |
|
|
6.414
|
|
Total
Current Liabilities |
|
|
58.244
|
|
|
Net Current Assets |
|
|
79.020
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
138.948 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
|
|
|
|
|
|
|
|
Income |
|
NA |
330.035 |
|
|
|
Other Income |
|
NA |
NA |
|
|
|
TOTAL |
|
NA |
NA |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
|
NA |
NA |
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
|
NA |
28.924 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
NA |
NA |
10.601 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
|
38.287 |
18.323 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
|
NA |
42.727 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
|
NA |
61.050 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Commission Received |
|
29.324 |
24.268 |
|
|
|
Target Bonus Received |
|
|
0.000 |
|
|
TOTAL EARNINGS |
|
29.324 |
24.268 |
|
|
|
|
|
|
|
|
|
|
IMPORTS VALUE |
|
135.828 |
88.261 |
|
|
|
|
|
|
|
|
|
|
Earnings Per Share
(Rs.) |
|
382.87 |
183.23 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
NA |
NA |
NA |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
NA |
NA |
8.76 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
NA |
NA |
37.11 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
NA |
NA |
0.47 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.88 |
1.07 |
1.24 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.27 |
1.10 |
2.36 |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES
OF LONG-TERM DEBT DETAILS: NOT AVAILABLE
|
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 one year |
Yes |
|
12] |
Profitability for last two 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) |
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 |
No |
|
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 |
NOTE:
The registered office of the company has been shifted from 22, Nirman
Industrial Estate, Chincholi Bunder Link Road, Malad (West), Mumbai – 400 064,
Maharashtra to the present address w.e.f. 22.09.2008.
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10310755 |
28/01/2012 * |
10,500,000.00 |
BANK OF MAHARASHTRA |
R. B. MEHTA MARG, GHATKOPAR (EAST), MUMBAI, MAHARASHTRA - 400077, INDIA |
B32734766 |
|
2 |
10242645 |
27/08/2010 |
7,100,000.00 |
CITIBANK N. A. |
CITITOWER, DR. S. S. RAO ROAD, PAREL, MUMBAI, MAHARASHTRA - 400012, INDIA |
A92938364 |
|
3 |
10232909 |
30/06/2010 |
22,500,000.00 |
BANK OF MAHARASHTRA |
R. B. MEHTA MARG, GHATKOPAR (EAST), MUMBAI, MAHARASHTRA - 400077, INDIA |
A90033119 |
|
4 |
80002118 |
22/03/2013 * |
199,800,000.00 |
BANK OF MAHARASHTRA |
GHATKOPAR EAST BRANCH, NEELKANTH KRUPA, R. B. MEHTA MARG, GHATKOPAR (EAST), MUMBAI, MAHARASHTRA - 400077, INDIA |
B73797805 |
* Date of charge modification
FIXED ASSETS:
· Air Conditioner
· Computers and Accessories
· Furniture and Fixtures
· Plant and Machinery
· Office Equipments
· Telephone EPABX
· Motor Bikes
· Mobile Phones
· Office Premises
· Motor Cars
· Electrification
· Capital WIP (Flat)
· Capital WIP (Electrical Generator)
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 records 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. 62.18 |
|
|
1 |
Rs. 102.31 |
|
Euro |
1 |
Rs. 84.50 |
INFORMATION DETAILS
|
Information
Gathered by : |
PLK |
|
|
|
|
Report Prepared
by : |
DPH |
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 |
4 |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
44 |
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.