MIRA
INFORM REPORT
|
Report Date : |
13.01.2014 |
IDENTIFICATION DETAILS
|
Name : |
GEECY ENGINEERING PRIVATE LIMITED |
|
|
|
|
Registered Office : |
Plot No.A33, TTC-MIDC Mahape, Near
ELF Lubricants, Thane Belapur Road, Navi Mumbai – 400 710, Maharashtra |
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Country : |
India |
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|
Financials (as on) : |
31.03.2013 |
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Date of Incorporation : |
13.06.1991 |
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Com. Reg. No.: |
11-062054 |
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Capital Investment
/ Paid-up Capital : |
Rs.5.000 millions |
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|
|
CIN No.: [Company
Identification No.] |
U27100MH1991PTC062054 |
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|
TAN No.: [Tax
Deduction & Collection Account No.] |
MUMG06493E |
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|
Legal Form : |
Private Limited Liability Company |
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|
|
Line of Business : |
Manufacturing and fabrication of engineering items like pressure
vessel etc. and trading in chemical and food product. |
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No. of Employees
: |
125 (Approximately) |
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 1230000 |
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|
Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having satisfactory track record. There appears dip in profit of the company during 2013. However,
networth of the company appears to be strong. Trade relations are reported to be 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.
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 |
December 18, 2012 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short Term Rating: A3+ |
|
Rating Explanation |
Moderate degree of safety and higher credit risk. |
|
Date |
December 18, 2012 |
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 PARTED BY
|
Name : |
Mr. Manoj Mulji Ruparel |
|
Designation : |
Director |
|
Contact No.: |
91-9820036335 |
|
Date : |
11.01.2014 |
LOCATIONS
|
Registered Office/ Head Office/ Marketing Office/ Factory: |
Plot No.A33, TTC-MIDC Mahape, Near
ELF Lubricants, Thane Belapur Road, Navi Mumbai – 400 710,
Maharashtra, India |
|
Tel. No.: |
91-22-41570200/ 27782403 / 04 / 05 |
|
Mobile No.: |
91-9820036335 (Mr. Manoj
Ruparel) |
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Fax No.: |
91-22-27780093 |
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E-mail: |
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|
Website : |
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|
Area : |
17000 Sq. ft. |
|
Location: |
Leased |
DIRECTORS
AS ON 30.09.2013
|
Name : |
Mr. Manoj Mulji Ruparel |
|
Designation : |
Director |
|
Address : |
102, Land Mark, Opposite Devidayal Road, Near Hot Plate Hotel, Mulund
(West), Mumbai – 400 080, Maharashtra, India |
|
Date of Birth/Age : |
01.01.1961 |
|
Date of Appointment : |
13.06.1991 |
|
PAN No.: |
ACYPR6427L |
|
DIN No.: |
01724577 |
|
|
|
|
Name : |
Ms. Neeta Manoj Ruparel |
|
Designation : |
Director |
|
Address : |
102, Land Mark, Opposite Devidayal Road, Near Hot Plate Hotel, Mulund
(West), Mumbai – 400 080, Maharashtra, India |
|
Date of Birth/Age : |
10.09.1956 |
|
Date of Appointment : |
13.06.1991 |
|
PAN No.: |
AAQPR9455E |
|
DIN No.: |
01724612 |
|
|
|
|
Name : |
Mr. Moiz Kutbuddin Adenwala |
|
Designation : |
Director |
|
Address : |
Sea Breeze CHS Tower No.6, Flat No.1302, Sector-16, Plot 16, Palm Beach
Road, Nerul (East), Navi Mumbai – 400 706, Maharashtra, India |
|
Date of Birth/Age : |
19.06.1958 |
|
Date of Appointment : |
13.06.1991 |
|
PAN No.: |
AAIPA3338B |
|
DIN No.: |
01724689 |
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|
|
|
Name : |
Ms. Darshana Jignesh Kothari |
|
Designation : |
Director |
|
Address : |
201, Sai Aangan, 609/A, Nahur Village Road, Next to Gaurav Apartment,
Mulund (West), Mumbai – 400 080, Maharashtra, India |
|
Date of Birth/Age : |
20.01.1983 |
|
Date of Appointment : |
15.01.2007 |
|
PAN No.: |
ACWPR0135M |
|
DIN No.: |
02070840 |
|
|
|
|
Name : |
Mr. Sreekumar Gopal Pillai |
|
Designation : |
Director |
|
Address : |
Flat – 802, Nilgiri Towers, Plot No.7, Sector 12, Kharghar, Navi
Mumbai – 410 210, Maharashtra, India |
|
Date of Birth/ Age : |
20.06.1961 |
|
Date of Appointment : |
28.11.2012 |
|
DIN No.: |
06461272 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2013
Note:
Shareholding details file attached.
AS ON 30.09.2013
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Directors
or relatives of directors |
|
99.00 |
|
Other
top fifty shareholders |
|
1.00 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing and fabrication of engineering items like pressure
vessel etc. and trading in chemical and food product. |
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Products : |
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Exports : |
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Products : |
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Countries : |
·
Germany ·
Thailand ·
Saudi Arabia ·
Belgium ·
Egypt ·
Brazil |
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Imports : |
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Products : |
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Countries : |
·
South Korea ·
Spain ·
Belgium |
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Terms : |
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Selling : |
Cash and Credit |
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Purchasing : |
Cash and Credit |
PRODUCTION STATUS (AS ON 31.03.2013)
|
Particulars |
Unit |
Actual
Production |
|
Pressure Vessel |
Nos. |
110 |
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|
|
|
GENERAL INFORMATION
|
Suppliers : |
·
Gujarat Engineering Company ·
Indo Therm Engineers Private
Limited ·
A.K. Enterprises ·
Bhavesh R. Dalal and Company ·
Crystal Industrial Syndicate
Private Limited ·
Dharmaraj Trading Company ·
Famous Machine Tools ·
Geecy Industrial Services Private
Limited ·
Harilal Paints ·
Inox Air Products Limited ·
Jai Bharat Packers ·
Laxmi
Enterprise · Mahavir Metal and Alloys |
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Customers : |
End Users ·
Toyo Engineering ·
Uhde ThyssenKrupp ·
VVF Limited ·
Reliance Industries Limited ·
Linde
Engineering India Private Limited · Spic Petrochemicals Limited ·
Indian Oil ·
Nirma ·
Technip ·
Citicorp Services India Limited ·
GAIL (India) Limited, U.P. |
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No. of Employees : |
125 (Approximately) |
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Bankers : |
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Facilities : |
Total Facilities: Rs.250.000 millions (From Bank of Baroda)
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
Bhavesh R. Dalal and Company Chartered Accountants |
|
Address : |
40, Geeta Building, 135/138, J.P. Road, Andheri (West), Mumbai – 400
058, Maharashtra, India |
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Tel. No.: |
91-22-26774681 |
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Mobile No.: |
91-9821052620 |
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PAN No.: |
AABPD4208N |
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|
|
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Other Related Parties : |
Geecy Industrial |
CAPITAL STRUCTURE
AS ON 30.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
50000 |
Equity Shares |
Rs.100/- each |
Rs.5.000 millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
50000 |
Equity Shares |
Rs.100/- each |
Rs.5.000 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 |
5.000 |
5.000 |
5.000 |
|
(b) Reserves & Surplus |
302.431 |
280.387 |
239.907 |
|
(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) |
307.431 |
285.387 |
244.907 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) Long-term borrowings |
7.575 |
3.572 |
3.398 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long
term liabilities |
0.000 |
0.000 |
0000 |
|
(d) Long-term
provisions |
3.618 |
3.191 |
1.864 |
|
Total Non-current
Liabilities (3) |
11.193 |
6.763 |
5.262 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
34.777 |
52.155 |
51.378 |
|
(b)
Trade payables |
55.256 |
24.806 |
36.362 |
|
(c)
Other current liabilities |
40.946 |
57.181 |
50.689 |
|
(d) Short-term
provisions |
0.000 |
0.000 |
3.904 |
|
Total Current Liabilities
(4) |
130.979 |
134.142 |
142.333 |
|
|
|
|
|
|
TOTAL |
449.603 |
426.292 |
392.502 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible
assets |
32.318 |
28.820 |
32.402 |
|
(ii)
Intangible Assets |
0.231 |
0.490 |
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 |
6.645 |
8.252 |
6.141 |
|
(c) Deferred tax assets (net) |
3.241 |
3.370 |
2.988 |
|
(d) Long-term Loan and Advances |
124.186 |
59.305 |
59.827 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
166.621 |
100.237 |
101.358 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
113.018 |
112.543 |
46.574 |
|
(c)
Trade receivables |
64.865 |
50.167 |
135.322 |
|
(d) Cash
and cash equivalents |
61.025 |
129.379 |
85.820 |
|
(e)
Short-term loans and advances |
39.675 |
32.827 |
22.987 |
|
(f)
Other current assets |
4.399 |
1.139 |
0.441 |
|
Total
Current Assets |
282.982 |
326.055 |
291.144 |
|
|
|
|
|
|
TOTAL |
449.603 |
426.292 |
392.502 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
|
|
|
|
|
|
|
|
Income |
457.170 |
407.211 |
512.576 |
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL |
457.170 |
407.211 |
512.576 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
339.897 |
411.360 |
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
417.877 |
339.897 |
411.360 |
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION |
39.293 |
67.314 |
101.216 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
6.067 |
7.717 |
9.522 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
33.226 |
59.597 |
91.694 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
11.182 |
19.117 |
30.548 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
22.044 |
40.480 |
61.146 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
121.149 |
20.203 |
163.742 |
|
|
|
|
|
|
|
|
|
|
Earnings/
(Loss)) Per Share (Rs.) |
441.00 |
810.00 |
1223.00 |
|
Expected Sales (2013-2014): Rs.500.000 millions
The above information has been parted by Mr. Manoj Ruparel (Director).
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
4.82
|
9.94 |
11.93
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
7.56
|
14.37 |
23.92
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.11
|
0.21 |
0.37
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.14
|
0.20 |
0.22
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.16
|
2.43 |
2.05
|
LOCAL AGENCY FURTHER INFORMATION
Details of Current Maturities of Long Term
Debt: Not Available
|
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 |
Yes |
|
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 |
Yes |
|
15) Capital in the business |
Yes |
|
16) Details of sister concerns |
Yes |
|
17) Major suppliers |
Yes |
|
18) Major customers |
Yes |
|
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 |
Yes |
|
33)
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34)
External Agency Rating, if available |
Yes |
INDEX OF CHARGES:
|
S. No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
90231176 |
09/12/2013 * |
300,000,000.00 |
BANK OF BARODA |
THANE WEST BRANCH,
SHRUSHTI PRIDE, PRASANNA BUILDING, RAM MARUTI ROAD, NAUPADA, THANE WEST,
THANE, MAHARASHTRA - 400602, INDIA |
B91914051 |
|
2 |
90166786 |
09/09/2008 * |
222,000,000.00 |
BANK OF BARODA |
THANE WEST
BRANCH, NAUPADA ROAD, THANE WEST, THANE, MAHARASHTRA - 400602, INDIA |
A47598586 |
* Date of charge modification
|
Unsecured Loans |
31.03.2013 (Rs. in Millions) |
31.03.2012 (Rs. in Millions) |
|
Deposits |
|
|
|
Chembur Property
(Interest Free Dep.) |
0.100 |
0.100 |
|
Padmavati
Builders and Infrastructure (Interest Free Dep.) |
0.300 |
0.300 |
|
Loan from Shareholders |
|
|
|
Manoj M. Ruparel
(Director) |
0.043 |
0.043 |
|
Manoj M. Ruparel
(HUF) |
1.216 |
1.216 |
|
Kalyani Mukesh
Desai |
0.000 |
0.594 |
|
Mukesh R. Parekh
(HUF) |
0.335 |
0.319 |
|
Archana M.
Ruparel |
0.000 |
1.000 |
|
Darshana J.
Kothari |
1.400 |
1.200 |
|
Manoj M. Ruparel |
1.381 |
1.381 |
|
Neeta M. Ruparel
(Director) |
2.800 |
1.500 |
|
Total |
7.575 |
7.653 |
Note:
The registered office is shifted from 2, Land Mark, Ground Floor, Opposite Devidayal Road, Near Hot Plate, Mulund (West), Mumbai – 400 080, Maharashtra to the present address.
FIXED ASSETS:
·
Land and Building
·
Plant and Machinery
·
Furniture
·
Office Equipments
·
Electrical Installations
·
Fan
·
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.61.94 |
|
|
1 |
Rs.102.06 |
|
Euro |
1 |
Rs.84.31 |
INFORMATION DETAILS
|
Information Gathered
by : |
SVA |
|
|
|
|
Report Prepared
by : |
SMN |
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 |
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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTERS |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
44 |
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.