MIRA
INFORM REPORT
|
Report Date : |
11.07.2014 |
IDENTIFICATION DETAILS
|
Name : |
CENTRAL TYRES PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
5, Sugar Market Building, 104/114, |
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|
Country : |
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Financials (as
on) : |
31.03.2013 |
|
|
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|
Date of
Incorporation : |
05.08.2008 |
|
|
|
|
Com. Reg. No.: |
11-181909 |
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|
|
|
Capital
Investment / Paid-up Capital : |
Rs.1.000 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U25206MH2008PTC181909 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
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|
|
|
Line of Business
: |
Trader of Tyres, Tubes and Flabs. |
|
|
|
|
No. of Employees
: |
15 (Approximately) |
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 |
|
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 seems some dip in the profit of the company during 2013 however net
worth of the company is satisfactory. General financial positions of the
company is normal and acceptable for business dealings. Trade relations are reported as fair. Business is active. Payment
terms are reported to be usually correct. The company can be considered normal 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
N E W S
The economy grew 4.7
%in 2013/14, marking a second straight year of sub-5 % growth – the worst
slowdown in more than a quarter of a century. The data was below an official estimate
of 4.9 % annual growth and compared with 4.5 % in the last fiscal year.
However, the current account deficit narrowed sharply to $ 32.4 billion at 1.7
% of gross domestic product, in 2013/14 from a record high of $ 98.8 billion or
4.7 %, the year before.A sharp fall in gold imports due to restrictions on
overseas purchases and muted import of capital goods helped shrink the current
account deficit.
Online retailer
Flipkart has acquired fashion portal Myntra as it prepares to battle with the
rapidly expanding India arm of the global e-commerce giant Amazon. The company
raised $ 210 million from Russian Investment firm DST Global which has also
invested in companies like Facebook, Twitter and Alibaba Group.
General Motors will
start exporting vehicles from its Talegaon plant near Pune in the second half
of 2014. GM was one of the few global carmakers that was using its India plant
only for the domestic market.
Google has overtaken
Apple as the world’s top brand in terms of value, according to global market
research agency Millward Brown. Google’s brand value shot up 40 % in a year to
$ 158.84 billion. The top 10 of the 100 slots were dominated by US companies.
Infosys lost another
heavy weight when B G Srinivas, a board member put in his papers. He is the
third CEO-hopeful to quit after Chairman N R Narayana Murthy’s return to the
company – Ashok Vemuri and V Balakrishnan being the other two.While Vemuri went
on to lead IGate, Balakrishnan joined politics.
Naresh Goyal –
promoted Jet Airways posted biggest quarterly loss – Rs 2153.37 crore – in the
three months ended March 31, mainly because it has been offering discounts to
passengers to fill planes.
William S Pinckney –
Chairman and CEO of Amway India was arrested by the Andhra Pradesh Police in connection
with a complaint against the direct selling firm. This is the second time that
he has been taken into custody. A year, ago the Kerala Police had arrested
Pinckney and two company directors on charges of financial irregularities.
China has told its
state-owned enterprises to sever links with American consulting firms after the
United States charged five Chinese military officers wih hacking US companies.
China’s action which targets consultancies like McKinsey & Co. and the
Boston Consulting Group, sterns from fears that the first are providing trade
secrets to the US governments.
India has emerged as
a country with some of the highest unregistered businesses in the world.
Indonesia has the maximum number of shadow businesses, says a study of 68 countries
by Imperial College Business School in London.
Pfizer has abandoned
its attempt to buy AstraZeneca for nearly $ 118 billion after the latter
refused an offer of 55 pounds a share.
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 PARTED BY (GENERAL DETAILS)
|
Name : |
Mr. K.M. Mathukutty |
|
Designation : |
Accounts Manager |
|
Contact No.: |
91-22-23481707 |
|
Date : |
10.07.2014 |
LOCATIONS
|
Registered Office : |
5, Sugar Market Building, 104/114, P. D'mello Road, Mumbai
– 400009, Maharashtra, India |
|
Tel. No.: |
91-22-23481707 / 23484448 |
|
Fax No.: |
91-22-23484448 / 23482656 |
|
E-Mail : |
|
|
Website : |
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|
Area : |
Owned |
DIRECTORS
As on 28.09.2013
|
Name : |
Rippy Dhingra |
|
Designation : |
Director |
|
Address : |
101, Megh Apartment, Rhuia Park, Opposite Godrej Bungalow, Military
Road, Juhu, Mumbai – 400049, Maharashtra, India |
|
Date of Birth/Age : |
23.07.1971 |
|
Date of Appointment : |
05.05.2008 |
|
DIN No.: |
02016067 |
|
|
|
|
Name : |
Mr. Narindersingh Hoshiarsingh Dhingra |
|
Designation : |
Director |
|
Address : |
101, Megh Apartment, Rhuia Park, Opposite Godrej Bungalow, Military
Road, Juhu, Mumbai – 400049, Maharashtra, India |
|
Date of Birth/Age : |
04.09.1966 |
|
Date of Appointment : |
05.05.2008 |
|
DIN No.: |
02016136 |
KEY EXECUTIVES
|
Name : |
Mr. K.M. Mathukutty |
|
Designation : |
Accounts Manager |
MAJOR SHAREHOLDERS
As on 28.09.2013
|
Names of Shareholders |
|
No. of Shares |
|
Narindersingh Hoshiarsingh Dhingra |
|
59499 |
|
Rippy Dhingra |
|
39500 |
|
Manjeey Hosiarsigh Dhingra |
|
1 |
|
Aiman Narindersingh Dhingra |
|
500 |
|
Siman Narindersingh Dhingra |
|
500 |
|
Total |
|
100000 |
Equity Share Break up (Percentage of Total Equity)
As on 28.09.2013
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Trader of Tyres, Tubes and Flabs. |
|
|
|
|
Agencies Held : |
BKT |
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|
|
|
Imports : |
|
|
Products : |
Tyres, Tubes and Flabs |
|
Countries : |
·
China ·
Singapore ·
Malaysia ·
Dubai |
|
|
|
|
Terms : |
|
|
Selling : |
Cash and Credit |
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Purchasing : |
Casf, Credit and L/C |
GENERAL INFORMATION
|
Suppliers : |
Balkrishna Industries Limited |
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Customers : |
·
Air India ·
L and T ·
Essar Projects
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No. of Employees : |
15 (Approximately) |
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Bankers : |
The Saraswat Co-Op Bank Limited, Carnac Bunder Branch, 113-16,133-35, Vyapar Bhavan, 1st Floor, P Dmello Road, Carnac Bunder, Mumbai - 400009, Maharashtra, India |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
|
|
Name : |
Mehta Kothari and Company Chartered Accountants |
|
Address : |
213/215, Jolly Bhavan No. 1, New Marine Lines, Mumbai – 400020,
Maharashtra, India |
|
PAN No.: |
AAAFM5736F |
CAPITAL STRUCTURE
As on 28.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
500000 |
Equity Shares |
Rs.10/- each |
Rs.5.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
100000 |
Equity Shares |
Rs.10/- each |
Rs.1.000 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 |
1.000 |
1.000 |
1.000 |
|
(b) Reserves & Surplus |
27.592 |
22.908 |
13.972 |
|
(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) |
28.592 |
23.908 |
14.972 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
57.624 |
63.633 |
52.931 |
|
(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) |
57.624 |
63.633 |
52.931 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
0.000 |
0.824 |
0.387 |
|
(b) Trade payables |
20.732 |
19.195 |
12.118 |
|
(c) Other current
liabilities |
4.980 |
4.445 |
3.991 |
|
(d) Short-term provisions |
6.900 |
9.000 |
7.295 |
|
Total Current Liabilities (4) |
32.612 |
33.464 |
23.791 |
|
|
|
|
|
|
TOTAL |
118.828 |
121.005 |
91.694 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
2.447 |
3.123 |
1.529 |
|
(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 |
0.000 |
|
(c) Deferred tax assets (net) |
0.239 |
0.187 |
0.100 |
|
(d) Long-term Loan and Advances |
0.334 |
0.518 |
0.287 |
|
(e) Other Non-current assets |
0.000 |
0.012 |
0.024 |
|
Total Non-Current Assets |
3.020 |
3.840 |
1.940 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
42.221 |
31.433 |
32.410 |
|
(c) Trade receivables |
57.910 |
67.004 |
39.456 |
|
(d) Cash and cash
equivalents |
2.606 |
2.636 |
1.989 |
|
(e) Short-term loans and
advances |
13.071 |
16.092 |
15.899 |
|
(f) Other current assets |
0.000 |
0.000 |
0.000 |
|
Total Current Assets |
115.808 |
117.165 |
89.754 |
|
|
|
|
|
|
TOTAL |
118.828 |
121.005 |
91.694 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
|
|
|
|
|
|
|
|
Income |
|
|
|
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL |
292.922 |
280.621 |
229.002 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
285.972 |
267.325 |
215.991 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX |
6.950 |
13.296 |
13.011 |
|
|
|
|
|
|
|
|
|
|
TAX |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
AFTER TAX |
NA |
NA |
NA |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
Return on Total Assets (PBT/Total Assets} |
(%) |
5.86 |
11.00 |
14.21 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.24 |
0.56 |
0.87 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
2.02 |
2.70 |
3.56 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
3.55 |
3.50 |
3.77 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
Rs.
In Millions |
Rs.
In Millions |
Rs.
In Millions |
|
Share Capital |
1.000 |
1.000 |
1.000 |
|
Reserves & Surplus |
13.972 |
22.908 |
27.592 |
|
Net
worth |
14.972 |
23.908 |
28.592 |
|
|
|
|
|
|
long-term borrowings |
52.931 |
63.633 |
57.624 |
|
Short term borrowings |
0.387 |
0.824 |
0.000 |
|
Total
borrowings |
53.318 |
64.457 |
57.624 |
|
Debt/Equity
ratio |
3.561 |
2.696 |
2.015 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
Rs.
In Millions |
Rs.
In Millions |
Rs.
In Millions |
|
Total Income |
229.002 |
280.621 |
292.922 |
|
|
|
22.541 |
4.383 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
Rs.
In Millions |
Rs.
In Millions |
Rs.
In Millions |
|
Total Income |
229.002 |
280.621 |
292.922 |
|
Profit
Before Tax |
13.011 |
13.296 |
6.950 |
|
|
5.68% |
4.74% |
2.37% |
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 |
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 |
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 |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
No |
UNSECURED LOANS:
|
Particulars |
31.03.2013 Rs. In Millions |
31.03.2012 Rs. In Millions |
|
Long Term Borrowings |
|
|
|
From directors |
|
|
|
Narindersingh Hoshiarsingh Dhingra |
16.971 |
16.740 |
|
Rippy Dhingra |
10.703 |
11.551 |
|
From Shareholders
|
|
|
|
Manjeet Kaur |
1.954 |
2.155 |
|
Total |
29.628 |
30.446 |
INDEX OF CHARGE:
|
Sr. No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10488825 |
04/04/2014 |
6,000,000.00 |
The Saraswat Cooperative Bank Limited |
The Saraswat Cooperative Bank Limited, 1st Floor, P D Mello Road, Carnac Bunder, Mumbai, Maharashtra - 400049, India |
C02404689 |
|
2 |
10453442 |
18/09/2013 |
5,000,000.00 |
The Saraswat Cooperative Bank Limited |
Carnac Bunder Branch, 113-16,133-35, Vyapar Bhavan, 1st Floor, P D Mello Road, Carnac Bunder, Mumbai, Maharashtra - 400049, India |
B86832607 |
|
3 |
10429906 |
26/06/2013 * |
6,000,000.00 |
The Saraswat Cooperative Bank Limited |
Carnac Bunder Branch, 113-16,133-35, Vyapar Bhavan, 1st Floor, P D Mello Road, Carnac Bunder, Mumbai, Maharashtra - 400049, India |
B80228984 |
|
4 |
10351923 |
03/04/2012 |
6,000,000.00 |
The Saraswat Cooperative Bank Limited |
Carnac Bunder Branch, 113-16,133-35, Vyapar Bhavan, 1st Floor, P D Mello Road, Carnac Bunder, Mumbai, Maharashtra - 400049, India |
B38289823 |
|
5 |
10231126 |
23/08/2010 * |
5,000,000.00 |
The Saraswat Cooperative Bank Limited |
Carnac Bunder Branch, 113-16,133-35, Vyapar Bhavan, 1st Floor, P D Mello Road, Carnac Bunder, Mumbai, Maharashtra - 400049, India |
A94468550 |
|
6 |
10160908 |
24/11/2011 * |
30,000,000.00 |
The Saraswat Cooperative Bank Limited |
Carnac Bunder Branch, 113-16,133-35, Vyapar Bhavan, 1st Floor, P D Mello Road, Carnac Bunder, Mumbai, Maharashtra - 400049, India |
B28180479 |
|
7 |
10198019 |
12/03/2009 |
10,000,000.00 |
The Saraswat Cooperative Bank Limited |
Carnac Bunder Branch, 113-16,133-35, Vyapar Bhavan, 1st Floor, P D Mello Road, Carnac Bunder, Mumbai, Maharashtra - 400049, India |
A61634317 |
|
8 |
10199429 |
12/03/2009 |
10,000,000.00 |
The Saraswat Cooperative Bank Limited |
Carnac Bunder Branch, 113-16,133-35, Vyapar Bhavan, 1st Floor, P D Mello Road, Carnac Bunder, Mumbai, Maharashtra - 400049, India |
A61632428 |
*Date of modification Charges
FIXED ASSETS:
·
Land
·
Building
·
Plant and Machinery
·
Computer
·
Vehicles
·
Furniture and Fixture
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.59.88 |
|
|
1 |
Rs.102.59 |
|
Euro |
1 |
Rs.81.69 |
INFORMATION DETAILS
|
Information Gathered
by : |
HNA |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
VNT |
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 |
6 |
|
--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 |
|
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.