|
Report Date : |
15.01.2014 |
IDENTIFICATION DETAILS
|
Name : |
GSC GLASS LIMITED |
|
|
|
|
Formerly Known
As : |
GSC GLASS PRIVATE LIMITED GSC TOUCHENED GLASS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
802, Arjun Nagar, Bhisham Pitamah Marg, |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
02.03.1989 |
|
|
|
|
Com. Reg. No.: |
11-035305 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.60.795 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74899DL1989PLC035305 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
DELG02044A |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACG0050D |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Tempered Glass, Heat Strengthened Glass
Heat Soaked Glass, Ceramic Printed Glass Laminated Glass, etc. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (50) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 4015000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track record. Profitability of the company seems to be decent. General financial
position of the company seems to be sound and healthy. Trade relations are fair. Business is active. Payments terms are reported
to be usually correct. The company can be considered for business dealings at usual tarde terms
and condition. |
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 |
CRISIL |
|
Rating |
Long term rating BBB+ |
|
Rating Explanation |
Moderate degree of safety and moderate
credit risk. |
|
Date |
November 15, 2012 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short term rating A2 |
|
Rating Explanation |
Strong degree of safety and low credit risk.
|
|
Date |
November 15, 2012 |
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. Arun Kumar |
|
Designation : |
Finance Manager |
|
Contact No.: |
91-120-2569922 / 2569933 |
|
Date : |
11.01.2014 |
LOCATIONS
|
Registered Office : |
802, Arjun Nagar, Bhisham Pitamah Marg, |
|
Tel. No.: |
91-11-41021222 (8 Lines) |
|
Fax No.: |
91-11-41021220 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Head Office : |
5 and 7, Udyog Vihar, Industrial Area, Greater Noida-201306, |
|
Tel. No.: |
91-120-2569922/33/44/2560574 |
|
Fax No.: |
91-120-2569288 |
|
E-Mail : |
|
|
|
|
|
Factory : |
R-50-52, TTC Industrial Area, Rabale, |
|
Tel. No.: |
91-22-27607409 (4 Lines) / 65138218/19 |
|
Fax No.: |
91-22-27698811/33 |
|
E-Mail : |
|
|
|
|
|
Overseas Office : |
Oudenaardse Steenweg 186, B-8580 |
|
Tel. No.: |
91-32-056-323203 |
|
Fax No.: |
91-32-056-323204 |
|
E-Mail : |
|
|
Website : |
DIRECTORS
As on 30.09.2013
|
Mr. Charanjit
Singh Malik |
|
|
Designation : |
Director |
|
Address : |
470, Sector 15
A, Noida – 201301, |
|
Date of Birth : |
27.03.1967 |
|
Date of
Appointment : |
21.05.1990 |
|
PAN No.: |
AICPK8222E |
|
DIN No.: |
00270786 |
|
|
|
|
Name : |
Mr. Sharanjeet
Singh |
|
Designation : |
Director |
|
Address : |
470, Sector 15
A, Noida – 201301, |
|
Date of
Appointment : |
02.03.1989 |
|
DIN No.: |
00270680 |
|
|
|
|
Name : |
Mr. Pranit Malik |
|
Designation : |
Director |
|
Address : |
470, Sector 15
A, Noida – 201301, |
|
Date of
Appointment : |
02.02.2004 |
|
DIN No.: |
00270823 |
|
|
|
|
Name : |
Mr. Daljit Kaur |
|
Designation : |
Director |
|
Address : |
470, Sector 15
A, Noida – 201301, |
|
Date of
Appointment : |
01.09.2006 |
|
DIN No.: |
00768136 |
|
|
|
|
Name : |
Mrs. Jagdeep
Kaur |
|
Designation : |
Director |
|
Address : |
470, Sector 15
A, Noida – 201301, |
|
Date of
Appointment : |
01.09.2006 |
|
DIN No.: |
00768174 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2013
|
Names of Shareholders |
Percentage of
Holding |
|
Sharanjit Singh |
164205 |
|
Charanjit Singh |
98295 |
|
Shiva Agro Private Limited |
270000 |
|
Parchita Singh |
15900 |
|
Pranit Malik |
31800 |
|
Amrita Singh |
14000 |
|
Kriti |
13750 |
|
|
|
|
Total |
607950 |
As on 30.09.2013
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
Bodies corporate |
44.00 |
|
Directors or relatives of Directors |
56.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Tempered Glass, Heat Strengthened Glass
Heat Soaked Glass, Ceramic Printed Glass Laminated Glass, etc. |
||||
|
|
|
||||
|
Products : |
|
GENERAL INFORMATION
|
No. of Employees : |
Not Availble |
||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||
|
Bankers : |
·
Corporation Bank, Mid Corporte Branch, G-28/29,
Sector 18, Noida – 201301, Uttar Pradesh, India ·
Yes Bank Limited, 9th Floor, Nehru
Center, Discovery of India, Dr. Annie Besant Road, Worli, Mumbai – 400018,
Maharashtra, India |
||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||
|
Facilities : |
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
C.S. Bhatnagar and Company Chartered Accountant |
|
Address : |
64, Regal Building, |
|
Tel. No.: |
91-11-23361674 |
|
Fax No.: |
91-11-23347019 |
|
PAN No.: |
AAAFC2063P |
|
E-Mail : |
|
|
Website: |
CAPITAL STRUCTURE
As on 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
700000 |
Equity Shares |
Rs.100/- each |
Rs.70.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
607950 |
Equity Shares |
Rs.100/- each |
Rs.60.795 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 |
60.795 |
60.795 |
60.795 |
|
(b) Reserves & Surplus |
943.179 |
913.525 |
842.629 |
|
(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) |
1003.974 |
974.320 |
903.424 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
3.830 |
49.281 |
69.483 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
3.285 |
21.145 |
|
(c) Other long term liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
13.861 |
13.529 |
10.526 |
|
Total Non-current Liabilities (3) |
17.691 |
66.095 |
101.154 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
143.001 |
225.579 |
236.733 |
|
(b) Trade payables |
103.221 |
103.510 |
110.994 |
|
(c) Other current
liabilities |
76.967 |
38.428 |
46.654 |
|
(d) Short-term provisions |
48.959 |
35.826 |
21.410 |
|
Total Current Liabilities (4) |
372.148 |
403.343 |
415.791 |
|
|
|
|
|
|
TOTAL |
1393.813 |
1443.758 |
1420.369 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
569.511 |
599.958 |
606.772 |
|
(ii) Intangible Assets |
2.379 |
4.373 |
5.781 |
|
(iii) Capital
work-in-progress |
0.000 |
0.000 |
24.710 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
101.731 |
101.509 |
101.329 |
|
(c) Deferred tax assets (net) |
1.727 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
74.752 |
71.105 |
72.504 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
750.100 |
776.945 |
811.096 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
206.200 |
227.422 |
212.763 |
|
(c) Trade receivables |
286.006 |
283.860 |
297.064 |
|
(d) Cash and cash
equivalents |
33.820 |
7.306 |
7.288 |
|
(e) Short-term loans and
advances |
115.966 |
146.240 |
90.728 |
|
(f) Other current assets |
1.721 |
1.985 |
1.430 |
|
Total Current Assets |
643.713 |
666.813 |
609.273 |
|
|
|
|
|
|
TOTAL |
1393.813 |
1443.758 |
1420.369 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
941.132 |
844.017 |
914.983 |
|
|
|
Other Income |
2.716 |
35.953 |
1.505 |
|
|
|
TOTAL (A) |
943.848 |
879.970 |
916.488 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
531.665 |
457.188 |
459.766 |
|
|
|
Changes in
inventories of finished goods, work-in-progress and stock-in-trade |
(0.783) |
(4.092) |
6.191 |
|
|
|
Employee benefit expense |
110.663 |
104.732 |
90.659 |
|
|
|
Other expenses |
210.827 |
203.538 |
185.705 |
|
|
|
TOTAL (B) |
852.372 |
761.366 |
742.321 |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (A-B) (C) |
91.476 |
118.604 |
174.167 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
18.498 |
27.609 |
25.390 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
72.978 |
90.995 |
148.777 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
37.913 |
35.214 |
34.026 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F) (G) |
35.065 |
55.781 |
114.751 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
8.122 |
17.701 |
42.554 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-H) (I) |
26.943 |
38.080 |
72.197 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
44.32 |
67.19 |
118.75 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total
Income |
(%) |
2.85
|
4.33 |
7.88 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
3.72
|
6.61 |
12.54 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.72
|
4.15 |
8.86 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.03
|
0.06 |
0.13 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.15
|
0.28 |
0.34 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.73
|
1.65 |
1.46 |
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 |
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 |
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 LOANS
|
PARTICULAR |
31.03.2013 (Rs.
In Millions) |
31.03.2012 (Rs.
In Millions) |
|
SHORT TERM
BORROWINGS |
|
|
|
Loan and advance from others |
59.823 |
123.118 |
|
|
|
|
|
Total |
59.823 |
123.118 |
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10093259 |
28/03/2008 |
64,737,978.00 |
THE PRADESHIYA INDUSTRIAL & INVESTMENT CORPORATION |
PICUP BHAWAN, GOMATI NAGAR, LUCKNOW, LUCKNOW, Uttar Pradesh - 226010,
INDIA |
A34709774 |
|
2 |
90334385 |
24/12/2013 * |
180,000,000.00 |
Corporation Bank |
Mid Corporate Branch, G-28/29, Sector-18, Noida, |
B92991900 |
|
3 |
90334247 |
08/11/2010 * |
368,200,000.00 |
Corporation Bank |
SME Branch, G-28/29, sector18, NOIDA, Uttar Pradesh - 201301, INDIA |
A99454472 |
|
4 |
90334131 |
24/12/2013 * |
180,000,000.00 |
Corporation Bank |
Mid Corporate Branch, G-28/29, Sector-18, Noida, |
B92991868 |
* Date of charge modification
FIXED ASSETS
·
Land
·
Office Equipment
·
Furniture and Fixture
·
Plant and Machinery
·
Electrical Installation
·
Computers
·
Building
·
Vehicle Car
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.61.52 |
|
|
1 |
Rs.101.48 |
|
Euro |
1 |
Rs.84.11 |
INFORMATION DETAILS
|
Information
Gathered by : |
HNA |
|
|
|
|
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 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--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 |
|
50 |
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.