MIRA
INFORM REPORT
|
Report Date : |
29.07.2014 |
IDENTIFICATION DETAILS
|
Name : |
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Registered Office
: |
107 / Panorama Opposite Hotel Welcome, |
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Country : |
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Financials (as
on) : |
31.03.2013 |
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Date of
Incorporation : |
13.03.1992 |
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Com. Reg. No.: |
04-017297 |
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Capital
Investment / Paid-up Capital : |
Rs. 1.066 Millions |
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CIN No.: [Company Identification
No.] |
U25209GJ1992PTC017297 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer and Exporter of Plastic Tanks and Containers. |
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No. of Employees
: |
40 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (42) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 53000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having satisfactory track record There is a dip in profit of the company in the year 2013. However,
overall financial position of the company is decent. Trade relations are reported to be fair. Business is active. Payment
are reported to be slow but correct. The company can be considered for business dealing 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 – March 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
India |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
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
31-03-2014.
INFORMATION PARTED BY
|
Name : |
Ms. Madhuri Pradhan |
|
Designation : |
Accounts Manager |
|
Contact No.: |
91-265-3058114 |
|
Date : |
22.07.2014 |
LOCATIONS
|
Registered Office : |
107, 1st Floor Panorama Opposite Hotel Welcome, R C Dutt
Road, Baroda – 390007, Gujarat |
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Tel. No.: |
91-265-3058114 |
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Fax No.: |
91-265-2340172 |
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E-Mail : |
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Website : |
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Area : |
750 Sq. Ft. |
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Location : |
Rented |
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Factory : |
Survey No. 713, Manjusar Taluka Savali District Vadodara, Gujarat,
India |
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Area : |
1500 Sq. ft. |
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Location : |
Owned |
DIRECTORS
AS ON 30.09.2012
|
Name : |
Mr. Shivindersingh Charansingh Chawla |
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Designation : |
Managing Director |
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Address : |
69, Kunj Society, Alkapuri, Vadodara – 390007, Gujarat, India |
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Date of Birth/Age : |
14.05.1955 |
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Date of Appointment : |
13.013.1995 |
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DIN No. : |
02955805 |
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Other Directorship :
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Name : |
Ms. Harleenkaur Chawla |
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Designation : |
Chairman cum Managing Director |
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Address : |
69, Kunj Society, Alkapuri, Vadodara – 390007, Gujarat, India |
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Date of Birth/Age : |
10.04.1961 |
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Date of Appointment : |
13.03.1992 |
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DIN No.: |
01237225 |
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Other Directorship :
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Name : |
Mr. Dhunrumi Boman Patel |
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Designation : |
Director |
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Address : |
32, Alka Society, Akota, Vadodara – 390020, Gujarat, India |
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Date of Birth/Age : |
03.04.1956 |
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Date of Appointment : |
13.03.1992 |
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DIN No.: |
00921690 |
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Other Directorship :
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KEY EXECUTIVES
|
Name : |
Ms. Madhuri Pradhan |
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Designation : |
Accounts Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2012
|
Names of Shareholders |
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No. of Shares |
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|
Dhanrumi Patel |
|
53300 |
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Harleenkaur Chawla |
|
53295 |
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Charansingh Chawla |
|
5 |
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Total |
|
106600 |
As on 30.09.2012
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
Directors or relatives of Directors |
100.00 |
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Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Plastic Tanks and Containers |
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Products : |
·
Water Storage Tanks ·
Portable water Storage Tanks ·
Paddle Kayak Boats ·
Plastics Pallets ·
Storage Silos ·
Industrial Product ·
Acid Tanks ·
Chemical Tanks ·
Green Storage Tanks ·
White water Tanks ·
Double Layer Water Tanks ·
Blue Water Tanks ·
Led Planters ·
Conical Bottom Tank ·
SRC Trolley ·
Truff ·
Powder Storage Vat ·
Jetties |
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Exports : |
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Products : |
Plastic Tanks |
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Countries : |
Australia |
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Imports : |
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Products : |
Raw Material |
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Countries : |
Saudi Arabia |
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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 : |
40 (Approximately) |
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Bankers : |
Union Bank of India, Alkapuri, Vadodara, India |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Amar Shah and Associates Chartered Accountants |
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Address : |
11, Vikasnagar Society, Nandalaya Compound, Old Padra Road, Vadodara –
390020, Gujarat, India |
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Tel. No.: |
91-265-2356565 |
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Mobile No.: |
91-9227101188 |
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Fax No.: |
91-265-2314823 |
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E-Mail : |
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PAN No.: |
AAGFA1387A |
CAPITAL STRUCTURE
As on 30.09.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
|
|
|
110000 |
Equity Shares |
Rs.10/- each |
Rs. 1.100 Millions |
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Total |
|
Rs. 1.100
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
106600 |
Equity Shares |
Rs.10/- each |
Rs. 1.066 Millions |
|
|
|
|
|
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Total |
|
Rs. 1.066
Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
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|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
1.066 |
1.066 |
1.066 |
|
(b) Reserves &
Surplus |
12.405 |
9.228 |
4.834 |
|
(c) Money received
against share warrants |
0.000 |
0.000 |
0.000 |
|
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|
|
|
|
(2) Share Application
money pending allotment |
0.000 |
0.000 |
0.000 |
|
Total Shareholders’ Funds
(1) + (2) |
13.471 |
10.294 |
5.900 |
|
|
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|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
13.245 |
7.648 |
11.898 |
|
(b) Deferred tax
liabilities (Net) |
1.044 |
0.984 |
0.957 |
|
(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) |
14.289 |
8.632 |
12.855 |
|
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(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
1.282 |
1.770 |
-0.350 |
|
(b) Trade payables |
7.652 |
6.283 |
6.697 |
|
(c) Other current
liabilities |
0.530 |
1.051 |
1.434 |
|
(d) Short-term provisions |
1.800 |
2.000 |
0.109 |
|
Total Current Liabilities
(4) |
11.264 |
11.104 |
7.890 |
|
|
|
|
|
|
TOTAL |
39.024 |
30.030 |
26.645 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
7.958 |
7.295 |
7.177 |
|
(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) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
0.211 |
0.211 |
0.210 |
|
(e) Other Non-current
assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
8.169 |
7.506 |
7.387 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
14.087 |
8.789 |
10.326 |
|
(c) Trade receivables |
8.927 |
9.851 |
6.974 |
|
(d) Cash and cash
equivalents |
0.878 |
0.357 |
0.287 |
|
(e) Short-term loans and
advances |
6.963 |
3.527 |
1.671 |
|
(f) Other current assets |
0.000 |
0.000 |
0.000 |
|
Total Current Assets |
30.855 |
22.524 |
19.258 |
|
|
|
|
|
|
TOTAL |
39.024 |
30.030 |
26.645 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
|
|
|
|
|
Income |
|
|
|
|
|
Other Income |
|
|
|
|
|
TOTAL (A) |
53.323 |
48.004 |
33.553 |
|
|
|
|
|
|
|
Less |
|
|
|
|
|
|
Cost of Materials
Consumed |
|
|
|
|
|
Purchases of
Stock-in-Trade |
|
|
|
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
|
|
|
|
|
Employees benefits
expense |
|
|
|
|
|
Other expenses |
|
|
|
|
|
TOTAL (B) |
46.920 |
40.735 |
32.014 |
|
|
|
|
|
|
|
Less |
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION (C) |
6.403 |
7.269 |
1.539 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES (D) |
0.125 |
0.056 |
0.097 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
6.278 |
7.213 |
1.442 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
0.895 |
0.791 |
0.723 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX (E-F) (G) |
5.383 |
6.422 |
0.719 |
|
|
|
|
|
|
|
Less |
TAX (I) |
2.207 |
2.028 |
(1.075) |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
(G-I) (J) |
3.176 |
4.394 |
1.794 |
|
|
|
|
|
|
|
|
EARNINGS
IN FOREIGN CURRENCY |
0.000 |
18.382 |
1.449 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (Rs.) |
29.79 |
41.22 |
46.83 |
|
Particulars |
|
|
31.03.2014 |
|
Sales Turnover (Approximately) |
|
|
50.000 |
|
|
|
|
|
The above information has been parted by Ms. Madhuri Pradhan
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
|
|
|
|
PAT / Total Income |
(%) |
5.96 |
9.15 |
5.35 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
13.79 |
21.39 |
2.70 |
|
|
|
|
|
|
|
Return on Investment
(ROI) (PBT/Networth) |
|
0.40 |
0.62 |
0.12 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
1.08 |
0.91 |
1.96 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.74 |
2.03 |
2.44 |
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 |
1.066 |
1.066 |
1.066 |
|
Reserves & Surplus |
4.834 |
9.228 |
12.405 |
|
Net worth |
5.900 |
10.294 |
13.471 |
|
|
|
|
|
|
long-term borrowings |
11.898 |
7.648 |
13.245 |
|
Short term borrowings |
-0.350 |
1.770 |
1.282 |
|
Total borrowings |
11.548 |
9.418 |
14.527 |
|
Debt/Equity ratio |
1.957 |
0.915 |
1.078 |
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) |
|
Sales |
33.553 |
48.004 |
53.323 |
|
|
|
43.069 |
11.080 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs. In Millions) |
(Rs. In Millions) |
(Rs. In Millions) |
|
Sales |
33.553 |
48.004 |
53.323 |
|
Profit |
1.794 |
4.394 |
3.176 |
|
|
5.35% |
9.15% |
5.96% |
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 |
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 |
No |
|
17] |
Major
suppliers |
No |
|
18] |
Major
customers |
No |
|
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 |
INDEX OF CHARGES :
No Charges Exist for Company
UNSECURED LOANS
|
PARTICULAR |
31.03.2013 (Rs.
in Millions) |
31.03.2012 (Rs.
in Millions) |
|
LONG TERM
BORROWINGS |
|
|
|
Loans and advances
from related parties |
|
|
|
Loans from Directors |
13.245 |
7.648 |
|
Total |
13.245 |
7.648 |
OPERATION:
During the year, there is
an increase in turnover. However there is stiff increase in Raw material price
because of increase in crude price and also there is a stiff competition in local
market of plastic tanks from big players. Because of stiff competition, the
company can't pass all the increase in Raw Material prices to the final
customers during the year, there is fall in the gross profit during the year.
FIXED ASSETS:
·
Computer
·
Plant and Machinery
·
Tools
·
Moulds
·
Furniture and Fixture
·
Air Conditioner
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. 60.10 |
|
|
1 |
Rs. 102.04 |
|
Euro |
1 |
Rs. 80.73 |
INFORMATION DETAILS
|
Information Gathered
by : |
PLK |
|
|
|
|
Analysis Done by
: |
SUM |
|
|
|
|
Report Prepared
by : |
TRU |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
42 |
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 |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.