MIRA INFORM REPORT
|
Report Date : |
24.01.2014 |
IDENTIFICATION DETAILS
|
Name : |
TRAVEL DESIGNER INDIA PRIVATE LIMITED |
|
|
|
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Registered
Office : |
405, 3rd Eye Two, Opposite Parimal Garden, |
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Country : |
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Financials (as
on) : |
31.03.2013 |
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Date of
Incorporation : |
20.10.2004 |
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Com. Reg. No.: |
04-044927 |
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Capital Investment
/ Paid-up Capital : |
Rs.0.500 million |
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CIN No.: [Company Identification
No.] |
U63040GJ2004PTC044927 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
AHMT01913C |
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PAN No.: [Permanent Account No.] |
AACCT1252C |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Providing Tour and Travelling Services. |
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No. of Employees
: |
60 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (51) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 126000 |
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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 a satisfactory track record. Trade relations are reported as fair. Business is active. Payments are
reported to be usually correct. The company can be considered normal for business dealings at usual
trade 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.
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 PARTED BY
|
Name : |
Mr. Alpesh |
|
Designation : |
Accounts Executive |
|
Contact No.: |
91-79-40236000 |
|
Date : |
22.01.2014 |
LOCATIONS
|
Registered Office/ Corporate Office : |
405, 3rd Eye Two, Opposite Parimal Garden, C.G. Road,
Ahmedabad – 380 009, Gujarat, India |
|
Tel. No.: |
91-79-40236000/ 26307060 |
|
Fax No.: |
91-79-40236060/ 26302768 |
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E-Mail : |
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|
Website : |
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|
Area : |
2000 sq. ft. |
|
Location : |
Owned |
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|
Branch Office : |
Located at: ·
Mumbai ·
Delhi ·
Bangalore ·
Ahmedabad ·
Chennai ·
Kolkata |
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|
|
|
Overseas Office
: |
Located at: ·
Mauritius ·
Jordan ·
Kuwait ·
Pakistan ·
Qatar ·
UAE ·
Saudi Arabia ·
Bangladesh |
DIRECTORS
AS ON 30.09.2013
|
Name : |
Mr. Kalpesh Chandulal Shah |
|
Designation : |
Chairman cum Managing Director |
|
Address : |
Bungalow No.7, Bopal 444, Next to Sun City, 200 Ft Sardar Patel, Ring
Road, Bopal, Ahmedabad – 380 058, Gujarat, India |
|
Date of Birth/Age : |
07.06.1955 |
|
Qualification : |
B.Com |
|
Date of Appointment : |
20.10.2004 |
|
DIN No.: |
00206113 |
|
|
|
|
Name : |
Mr. Jaal Kalpesh Shah |
|
Designation : |
Managing Director |
|
Address : |
Bungalow No.7, Bopal 444, Next to Sun City, 200 Ft Sardar Patel, Ring
Road, Bopal, Ahmedabad – 380 058, Gujarat, India |
|
Date of Birth/Age : |
19.07.1981 |
|
Qualification : |
B.Com |
|
Date of Appointment : |
20.10.2004 |
|
DIN No.: |
00210866 |
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|
|
|
Name : |
Mrs. Parul Kalpesh Shah |
|
Designation : |
Director |
|
Address : |
Bungalow No.7, Bopal 444, Next to Sun City, 200 Ft Sardar Patel, Ring Road,
Bopal, Ahmedabad – 380 058, Gujarat, India |
|
Date of Birth/Age : |
21.07.1961 |
|
Qualification : |
B.Com |
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Date of Appointment : |
01.11.2006 |
|
DIN No.: |
00949398 |
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|
|
|
Name : |
Mrs. Shailee Jaal Shah |
|
Designation : |
Whole Time Director |
|
Address : |
Bungalow No.7, Bopal 444, Next to Sun City, 200 Ft Sardar Patel, Ring
Road, Bopal, Ahmedabad – 380 058, Gujarat, India |
|
Date of Birth/Age : |
19.07.1981 |
|
Qualification : |
B.Com |
|
Date of Appointment : |
23.11.2006 |
|
DIN No.: |
00949414 |
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|
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|
|
Name : |
Mr. Tushar A. Jain |
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Designation : |
Director |
|
Address : |
C-9/94, Sector – 8, Rohini, Delhi – 110 085, India |
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Date of Birth/Age : |
24.07.1981 |
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Qualifications : |
Graduate |
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Date of Appointment : |
01.03.2009 |
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DIN No.: |
00013740 |
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|
|
|
Name : |
Mrs. Vandana Paresh Parihar |
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Designation : |
Director |
|
Address : |
C-103, Uranus Vasant, Galaxy, Bangur Nagar, Goregaon (West), Mumbai
- 400 104, Maharashtra, India |
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Date of Birth/Age : |
09.11.1976 |
|
Qualifications : |
Graduate |
|
Date of Appointment : |
30.09.2010 |
|
DIN No.: |
02763372 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2013
|
Names of Shareholders |
No. of Shares |
|
Kalpesh Chandulal Shah |
37500 |
|
Jaal Kalpesh Shah |
12500 |
|
Total |
50000 |
AS ON 30.09.2013
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Directors
or relatives of directors |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Providing Tour and Travelling Services. |
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Terms : |
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Selling : |
Cash and Credit |
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Purchasing : |
Cash and Credit |
GENERAL INFORMATION
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Customers : |
End Users |
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No. of Employees : |
60 (Approximately) |
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Bankers : |
·
Union Bank of India, Jodhpur Tekra Branch,
Ahmedabad – 380 015, Gujarat, India ·
Kotak Mahindra Bank
Limited, 36-38A, Nariman Bhavan, 227,
D, Nariman Point, Mumbai – 400 021, Maharashtra, India ·
Standard Chartered Bank,
Mitha Galli ·
ICICI Bank Limited |
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Facilities : |
Notes: LONG TERM BORROWINGS Nature of
Security and Terms of Repayment in respect of Secured Borrowings: Secured vehicle loans from Bank and Financial Institutions are secured
against the hypothecation of respective vehicle and are repayable in 36 equal
monthly installments over a period of 3 years carrying interest rate of
10-12%. The period and
amount of installments due are as under:
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Auditors : |
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Name : |
Talati and Talati Chartered Accountants |
|
Address : |
Ambica Chambers, Near Old High Court, Navrangpura, Ahmedabad – 380
009, Gujarat, India |
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Tel No : |
91-79-27544571-72 |
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Fax No.: |
91-79-27542233/ 30084575 |
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Website : |
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Enterprise where Directors/ Director’s Relatives exercise control/
significant influence : |
·
XML Hub Travel Distribution Private Limited
(Formerly known as ORS Travel Distribution Services Private Limited) ·
Neo Travels ·
BTC Tours and Travels Private Limited ·
Travel Designer , JLT ·
Baghpatia Trading Company Private Limited ·
Qtech Software Private Limited ·
Designer Indya Voyages Private Limited |
CAPITAL STRUCTURE
AS ON 30.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
95000 |
Equity Shares |
Rs.10/- each |
Rs.0.950 million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
50000 |
Equity Shares |
Rs.10/- each |
Rs.0.500 million |
|
|
|
|
|
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 |
0.500 |
0.500 |
0.500 |
|
(b) Reserves & Surplus |
31.044 |
11.593 |
3.852 |
|
(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) |
31.544 |
12.093 |
4.352 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) Long-term borrowings |
0.900 |
0.355 |
5.622 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long
term liabilities |
11.063 |
9.273 |
0.080 |
|
(d) Long-term
provisions |
0.868 |
0.502 |
0.299 |
|
Total Non-current
Liabilities (3) |
12.831 |
10.130 |
6.001 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
8.256 |
5.092 |
2.401 |
|
(b)
Trade payables |
221.244 |
71.607 |
42.163 |
|
(c) Other
current liabilities |
5.462 |
7.035 |
2.433 |
|
(d) Short-term
provisions |
20.357 |
4.340 |
0.000 |
|
Total Current
Liabilities (4) |
255.319 |
88.074 |
46.997 |
|
|
|
|
|
|
TOTAL |
299.694 |
110.297 |
57.350 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i)
Tangible assets |
18.176 |
16.046 |
6.783 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
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 |
0.000 |
0.000 |
6.453 |
|
(c) Deferred tax assets (net) |
0.294 |
0.118 |
0.010 |
|
(d) Long-term Loan and Advances |
9.122 |
4.876 |
0.752 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
27.592 |
21.040 |
13.998 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
0.000 |
0.000 |
0.000 |
|
(c)
Trade receivables |
188.920 |
62.635 |
19.504 |
|
(d) Cash
and cash equivalents |
80.619 |
25.270 |
22.650 |
|
(e)
Short-term loans and advances |
2.563 |
1.352 |
1.198 |
|
(f)
Other current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
272.102 |
89.257 |
43.352 |
|
|
|
|
|
|
TOTAL |
299.694 |
110.297 |
57.350 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
|
|
53.549 |
347.281 |
|
|
|
Other Income |
|
|
1.808 |
|
|
|
TOTAL |
119.810 |
53.549 |
349.089 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
|
|
NA |
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
NA |
NA |
347.562 |
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
NA |
NA |
1.527 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
NA |
NA |
0.313 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
19.451 |
7.741 |
1.214 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’
BALANCE BROUGHT FORWARD |
11.593 |
3.852 |
3.038 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Issue on Bonus Shares |
0.000 |
0.000 |
0.400 |
|
|
BALANCE CARRIED
TO THE B/S |
31.044 |
11.593 |
3.852 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
476.878 |
NA |
124.611 |
|
|
|
|
|
|
|
|
|
|
Earnings/ (Loss)
Per Share (Rs.) |
389.02 |
154.82 |
24.00 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
16.23 |
14.46
|
0.35 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
NA |
NA |
0.44 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
NA |
NA |
3.00 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
NA |
NA |
0.35 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.29 |
0.45
|
1.84 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.07 |
1.01
|
0.92 |
LOCAL AGENCY FURTHER INFORMATION
Details of Current Maturities of Long Term
Debt:
|
Particulars |
31.03.2013 (Rs. in millions) |
31.03.2012 (Rs. in millions) |
31.03.2011 (Rs. in millions) |
|
Current
Maturities of Long-term debts |
1.300 |
3.960 |
0.602 |
|
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 |
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 |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
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 |
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 |
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10382531 |
23/10/2013 * |
40,000,000.00 |
UNION BANK OF
INDIA |
JODHPUR TEKRA
BRANCH, SHIVRANJANI CROSS ROAD, SATELITE, AHMEDANAD, GUJARAT - 380015, INDIA |
B89713788 |
|
2 |
10311988 |
23/10/2013 * |
40,000,000.00 |
UNION BANK OF
INDIA |
JODHPUR TEKRA BRANCH,
SHIVRANJANI CROSS ROAD, SATELITE, AHMEDANAD, GUJARAT - 380015, INDIA |
B89714463 |
|
3 |
10223276 |
15/06/2010 |
5,200,000.00 |
KOTAK MAHINDRA
BANK LIMITED |
36-38A, NARIMAN
BHAVAN, 227, D, NARIMAN POINT, MUMBAI, MAHARASHTRA - 400021, INDIA |
A87411492 |
* Date of charge modification
|
Unsecured Loans |
31.03.2013 (Rs. in Millions) |
31.03.2012 (Rs. in Millions) |
|
SHORT TERM BORROWINGS |
|
|
|
Loan and Advances
from Related Parties |
0.787 |
0.685 |
|
Total |
0.787 |
0.685 |
Note:
The registered office address of the company has been shifted from 302,
3rd Floor, Oynex Building, Opposite LDC Bank, H L College Road,
Navrangpur, Ahmedabad – 380 009, Gujarat, India to the present address w. e. f.
16.08.2010.
Contingent
Liability and Commitments (To the Extent not provided for):
|
Particulars |
31.03.2013 (Rs. in Millions) |
31.03.2012 (Rs. in Millions) |
|
Guarantees: |
|
|
|
Corporate Guarantees
given in favour of Bank for Guarantees issued |
22.995 |
11.741 |
|
Total |
22.995 |
11.741 |
FIXED ASSETS:
·
Building
·
Furniture and Fixtures
·
Vehicles
·
Office Equipments
·
Computers
·
Electric Installations
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.61.99 |
|
|
1 |
Rs.102.67 |
|
Euro |
1 |
Rs.83.97 |
INFORMATION DETAILS
|
Information
Gathered by : |
PLK |
|
|
|
|
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 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--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 |
|
51 |
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.