|
Report Date : |
10.01.2014 |
IDENTIFICATION DETAILS
|
Name : |
K P SOLVEX PRIVATE LIMITED (w.e.f. 30.03.2007) |
|
|
|
|
Formerly Known
As : |
K P SOLVEX LIMITED |
|
|
|
|
Registered
Office : |
Village Harshmau, Tehsil – Niwari, Tikamgarh – 472442, Madhya Pradesh |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
25.01.1983 |
|
|
|
|
Com. Reg. No.: |
10-002131 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs.13.440
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U15143MP1983PTC002131 |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACK4840R |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject is primarily engaged in the business of manufacturing of
de-oiled cakes and edible oils through solvent extraction process. |
|
|
|
|
No. of Employees
: |
Not Available |
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 710000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having a satisfactory track record. Profitability of the company appears to be fair. Trade relations are fair. Business is active. Payment terms are
reported to be usually correct. The company can be considered 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 DEFAILTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAILTERS’ 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 DECLINED
MANAGEMENT NON CO-OPERATIVE
Contact No.: 91-7680-232312
LOCATIONS
|
Registered Office/ Factory : |
Village Harshmau, Tehsil – Niwari, Tikamgarh – 472442, Madhya Pradesh,
India |
|
Tel. No.: |
91-7680-232312/ 232313/ 232314/ 232334 |
|
Fax No.: |
91-7680-232207 |
|
E-Mail : |
|
|
|
|
|
Jhansi Office : |
“Mayur Apartment”, Near Raskhan, Gwalior Road, Jhansi – 284003, Uttar
Pradesh, India |
|
Tel. No.: |
91-510-2331225/ 2332016 |
DIRECTORS
(AS ON 30.09.2013)
|
Name : |
Mr. Indra Kumar Kochar |
|
Designation : |
Managing Director |
|
Address : |
386/4-D, Civil Lines, Gwalior Road, Jhansi – 284 003, Uttar Pradesh, India |
|
Date of Birth/Age : |
14.11.1941 |
|
Date of Appointment : |
25.01.1983 |
|
DIN No.: |
00029254 |
|
PAN No.: |
AAAHI3674L |
|
|
|
|
Name : |
Mr. Bal Kishan Trivedi |
|
Designation : |
Director |
|
Address : |
7, Sushil Enclave, Gwalior Road, Jhansi – 284 003, Uttar Pradesh, India |
|
Date of Birth/Age : |
26.11.1940 |
|
Date of Appointment : |
25.01.2006 |
|
DIN No.: |
00029294 |
|
PAN No.: |
ACNPT8529Q |
|
|
|
|
Name : |
Mr. Khushal Chand Jain |
|
Designation : |
Director |
|
Address : |
40, Sushil Enclave, Gwalior Road, Jhansi – 284 003, Uttar Pradesh, India |
|
Date of Birth/Age : |
11.06.1950 |
|
Date of Appointment : |
25.01.1983 |
|
DIN No.: |
00032039 |
|
PAN No.: |
AFXPK6752K |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
(AS ON 30.09.2013)
|
Names of Shareholders |
|
No. of Shares |
|
|
|
|
|
Khushal Chandra Jain |
|
16016 |
|
Indra Kumar Kochar |
|
24024 |
|
Bal Kishan Trivedi |
|
17808 |
|
Raj Kumari Kochar |
|
20720 |
|
Namita Kochar |
|
9240 |
|
Harsh Kumar Kochar |
|
6692 |
|
Saurabh Kumar Kochar |
|
1820 |
|
Manohar Lal Jain |
|
29120 |
|
Jaishri Jain |
|
560 |
|
Kochar Kumar Indra (HUF) |
|
3920 |
|
Jain Das Jin and I K Kochar (HUF) |
|
4480 |
|
|
|
|
|
Total |
|
134400 |
(AS ON 30.09.2013)
Equity Shares Break – up
|
Category |
|
Percentage |
|
|
|
|
|
Directors or relatives of directors |
|
100.00 |
|
|
|
|
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is primarily engaged in the business of manufacturing of
de-oiled cakes and edible oils through solvent extraction process. |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
|||||||||||||||||||||||||||
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|
|
|||||||||||||||||||||||||||
|
Bankers : |
· Punjab National Bank Jhansi City, Jhansi – 284 002, Uttar Pradesh, India |
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Facilities : |
|
|||||||||||||||||||||||||||
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
J. P. Associates Chartered Accountants |
|
Address : |
Triveni Kunj, Prem Ganj, SIPRI, Jhansi – 284 003, Uttar Pradesh, India |
|
PAN No.: |
AAAFJ8660R |
|
|
|
|
Associates/Subsidiaries : |
·
Kapex Agro Oils Private Limited, India (CIN No.: U15143MP1997PTC012039) |
CAPITAL STRUCTURE
(AS ON 30.09.2013)
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
200000 |
Equity Shares |
Rs.100/- each |
Rs.20.000 millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
134400 |
Equity Shares |
Rs.100/- each |
Rs.13.440
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 |
13.440 |
13.440 |
13.440 |
|
(b) Reserves & Surplus |
163.926 |
140.248 |
138.054 |
|
(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) |
177.366 |
153.688 |
151.494 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) Long-term borrowings |
2.552 |
2.799 |
2.034 |
|
(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) |
2.552 |
2.799 |
2.034 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
100.905 |
229.615 |
178.507 |
|
(b)
Trade payables |
0.559 |
0.579 |
0.384 |
|
(c)
Other current liabilities |
9.563 |
1.927 |
11.845 |
|
(d) Short-term
provisions |
16.702 |
6.330 |
5.316 |
|
Total Current
Liabilities (4) |
127.729 |
238.451 |
196.052 |
|
|
|
|
|
|
TOTAL |
307.647 |
394.938 |
349.580 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i)
Tangible assets |
75.625 |
72.504 |
71.323 |
|
(ii)
Intangible Assets |
0.241 |
0.039 |
0.012 |
|
(iii)
Capital work-in-progress |
0.000 |
0.000 |
2.484 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
1.884 |
4.332 |
4.111 |
|
(c) Deferred tax assets (net) |
0.314 |
12.104 |
12.186 |
|
(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 |
78.064 |
88.979 |
90.116 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
173.499 |
212.266 |
215.057 |
|
(c)
Trade receivables |
1.917 |
54.417 |
17.476 |
|
(d) Cash
and cash equivalents |
23.389 |
25.067 |
12.086 |
|
(e)
Short-term loans and advances |
30.778 |
14.209 |
14.845 |
|
(f)
Other current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
229.583 |
305.959 |
259.464 |
|
|
|
|
|
|
TOTAL |
307.647 |
394.938 |
349.580 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
1760.757 |
1767.057 |
1484.380 |
|
|
|
Other Income |
NA |
NA |
NA |
|
|
|
TOTAL (A) |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL (B) |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
68.854 |
28.399 |
24.547 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
15.906 |
19.327 |
19.620 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
52.948 |
9.072 |
4.927 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/ AMORTISATION (F) |
3.607 |
2.732 |
2.694 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS
)BEFORE PRIOR PERIOD ITEMS AND TAX |
49.341 |
6.340 |
2.233 |
|
|
|
|
|
|
|
|
|
Add |
PRIOR PERIOD
INCOME/ (EXPENSES) |
(0.768) |
0.151 |
0.059 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
48.573 |
6.491 |
2.292 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
22.178 |
1.261 |
0.222 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
26.395 |
5.230 |
2.070 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
2.500 |
2.500 |
2.500 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
26.394 |
5.230 |
2.070 |
|
|
BALANCE CARRIED
TO THE B/S |
2.501 |
2.500 |
2.500 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
571.406 |
628.584 |
436.634 |
|
|
TOTAL EARNINGS |
571.406 |
628.584 |
436.634 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
|
38.91 |
15.40 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
NA
|
NA |
NA
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
2.76
|
0.37 |
0.15
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
15.90
|
1.71 |
0.69
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.27
|
0.04 |
0.02
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.58
|
1.51 |
1.19
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.80
|
1.28 |
1.32
|
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 |
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 |
CORPORATE INFORMATION
.
The Company is a
private limited company domiciled in India and incorporated under the
provisions of the Companies Act, 1956 (the "Act"). The Company is primarily
engaged in the business of manufacturing of de-oiled cakes and edible oils
through solvent extraction process.
YEAR IN RETROSPECT
Adequate rains
during sowing till ripening of crop during 2012-13 season had helped the crop
output and harvesting was concluded in the month of October. Crop outcome was
not as expected.
Processing
suffered a downward trend for non availability of soya at competitive rates.
Mustard cake was not processed during the year. In Solvent Extraction Plant capacity
utilization registered downfall from 67,682 MT in 2011-12, comprised of 67,012
MT soya seed and 670 MT mustard cake, to 47,068 MT of soya seed during the
year. Processing in refinery unit of the company also registered a downfall
from 3,003 MT in 2011-12 to 909 MT during the year.
FINANCE
The Company paid off Rs.3.116 millions during the year in term loans
from Punjab National Bank.
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10417592 |
22/03/2013 |
1,000,000.00 |
Punjab National
Bank |
Jhansi City,
Jhansi, Uttar Pradesh - 284002, India |
B72548944 |
|
2 |
10388935 |
05/11/2012 |
1,500,000.00 |
Punjab National
Bank |
Jhansi City,
Jhansi, Uttar Pradesh - 284002, India |
B62924998 |
|
3 |
10385242 |
26/09/2012 |
1,026,800.00 |
Punjab National
Bank |
Jhansi City,
Jhansi, Uttar Pradesh - 284002, India |
B61648705 |
|
4 |
10044877 |
10/11/2012 * |
420,000,000.00 |
Punjab National
Bank |
Jhansi City,
Jhansi, Uttar Pradesh - 284002, India |
B63408488 |
* Date of charge modification
FIXED ASSETS:
Tangible Assets
·
Land
·
Buildings
·
Plant and Equipment
·
Furniture and Fixtures
·
Vehicles
·
Office Equipment
·
Computer Equipments
·
Livestock
Intangible Assets
·
Computer Software
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.62.181 |
|
|
1 |
Rs.102.31 |
|
Euro |
1 |
Rs.84.50 |
INFORMATION DETAILS
|
Information Gathered
by : |
NYA |
|
|
|
|
Report Prepared
by : |
NIT |
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 |
5 |
|
--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 |
YES |
|
--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.