MIRA INFORM REPORT
|
Report Date : |
07.06.2014 |
IDENTIFICATION DETAILS
|
Name : |
SANTE MERNAUD PHARMACEUTICALS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Plot No.466, 12th ‘A’ Cross, Peenya 4th Phase,
Peenya Industrial Area, Peenya, 560058, Bengaluru Karnataka India |
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|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2010 |
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|
|
|
Date of
Incorporation : |
26.06.2006 |
|
|
|
|
Com. Reg. No.: |
08-039813 |
|
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|
|
Capital
Investment / Paid-up Capital : |
Rs. 8.050 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24239KA2006PTC039813 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
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|
|
|
Line of Business
: |
Manufacturer and Supplier of Dermatological, Prescription Cosmetology and Skin Care Products. |
|
|
|
|
No. of Employees
: |
Not Divulged |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca (12) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Unknown |
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|
|
|
Litigation : |
Clear |
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|
|
Comments : |
Subject is an established company having moderate track. Management has not filed its financial statements with the government
department, since FY 2011. As per available, the company seems to be a small company in its
field. Its scale of activities are limited. However, Business is active as per the documents registered with
registrar of companies. Payment terms are unknown. In view of unavailability of latest financial statements, the subject
can be considered for business dealings on a safe and secured 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 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
US investment bank
Goldman Sachs has upgraded its outlook on Indian markets as it expects
positive impact of the election cycle.
India’s economy may grow
4.7 % in the current financial year, lower than the official estimate of 4.9 %,
Fitch Rating said. The global rating agency expects the economy to pick up in
the next two financial years.
Global ratings
agency Standard & Poor said increasing focus by India Inc on lowering debt
is likely to improve their credit profiles.
Singapore (1.1
million Indian tourists in 2012), Thailand (one million), the United Arab
Emirates ().98 million) and Malaysia ().82 million) emerged as the preferred
holidays hotspots for Indians. The total figure is expected to increase to 1.93
million by 2017, according to the latest Eurmonitor international report.
There is a $29.34 bn
outward foreign direct investment by domestic companies between April and
January of 2013/14 which has seen some signs of recovery according to a Care
Ratings report.
There are 264 number
of new companies being set up every day on average during 2014. Most of them
are registered in Mumbai. India had 1.38 million registered companies at the
end of January, 2014.
Twitter like
messaging service Weibo Corporation has filed to raise $ 500 million via a US
initial public offering. Alibaba, which owns a stake in Weibo is expected to
raise about $ 15 billion New York this year in the highest profile Internet IPO
since Facebook’s in 2012.
Bharti Airtel has
raised Rs.2,453.2 crore (350 million Swiss Francs) by selling six-year bonds at
a coupon rate of three per cent and maturing in 2020. This is the largest ever
bond offering by an Indian company in Swiss Francs. Bharat Petroleum
Corporation raised 175 million Swiss Francs by selling five year bonds at 2.98
% coupon rate in February.
Indian Oil
Corporation plans to invest Rs 7650 crore in setting up a petrochemical complex
at its almost complete Paradip refinery in Odhisha in three to four years. The
company board is set to consider the setting up of a 700000 tonne per annum
polypropylene plant at an estimated cost at Rs.3150 crore.
Global chief
information officers at gathering in Bangalore in April to meet Indian startups
at an event called Tech50 Watchout for Little Eye Labs-Facebook type deals in
the making.
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
|
Name : |
Mr. Shivabasavesh Prabhudevayya Hiremath |
|
Designation : |
Director |
|
Contact No.: |
91-9880322082 |
|
Date : |
05.06.2014 |
LOCATIONS
|
Registered Office / Factory : |
Plot No.466, 12th ‘A’ Cross, Peenya 4th Phase, Peenya
Industrial Area, Peenya, 560058, Bengaluru Karnataka India |
|
Tel. No.: |
91-80-28360072 / 41119429 / 28360062 |
|
Mobile No.: |
91-9880322082 (Mr. Shivabasavesh Prabhudevayya Hiremath) |
|
Fax No.: |
91-80-28360057 |
|
E-Mail : |
DIRECTORS
As on 30.09.2010
|
Name : |
Mr. Shivabasavesh Prabhudevayya Hiremath |
|||||||||||||||||||||||||||
|
Designation : |
Director |
|||||||||||||||||||||||||||
|
Address : |
No. 2 1st Mani, Msrit College Road,Mathikere Extension, Banglore-560054,
Karnataka, India |
|||||||||||||||||||||||||||
|
Date of Birth/Age : |
14.08.1968 |
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|
Date of Appointment : |
26.026.2006 |
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DIN No.: |
00354904 |
|||||||||||||||||||||||||||
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Other Directorship :
|
||||||||||||||||||||||||||||
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|
|||||||||||||||||||||||||||
|
Name : |
Mrs. Shoba Hiremath |
|||||||||||||||||||||||||||
|
Designation : |
Director |
|||||||||||||||||||||||||||
|
Address : |
No. 2 1st Mani, Msrit College Road,Mathikere Extension,
Banglore-560054, Karnataka, India |
|||||||||||||||||||||||||||
|
Date of Birth/Age : |
24.03.1974 |
|||||||||||||||||||||||||||
|
Date of Appointment : |
26.26.2006 |
|||||||||||||||||||||||||||
|
DIN No.: |
00357762 |
|||||||||||||||||||||||||||
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2010
|
Names of Shareholders |
No. of Shares |
|
Shivabasavesh P Hiremath |
4,095,575 |
|
Shoba Hiremath |
669,500 |
|
Neeraja Tippabhotla |
500,000 |
|
S. Venkatachalam & Uttara Venkatachalam |
500,000 |
|
Mamata Bhaskaran |
90,000 |
|
Gurulingaswamy Basanna |
100,000 |
|
Sankar Velu |
83,325 |
|
Jayagovindan |
100,000 |
|
Mallappa B. Kadapatti |
50,000 |
|
Chitra Umesh |
20,000 |
|
Hemasekar |
25,000 |
|
Tanya Agarwal |
20,000 |
|
Aveg Agarwal |
30,000 |
|
Manjula S. Maralappanavar |
25,000 |
|
Srinivasan. S. |
41,650 |
|
Nagaratna. L. |
16,650 |
|
Suraj Palled |
16,650 |
|
Manohar. N. |
16,650 |
|
Rajendra Pratap Gupta |
100,000 |
|
Padubidre Sakharama Prabhu |
200,000 |
|
Prasanna Veer Raju |
50,000 |
|
Sulochana |
25,000 |
|
Mambettu Kamalakar Shetty |
25,000 |
|
Kubba Raj Kumar |
50,000 |
|
Annasaheb Shankar Jolle & Shashikala Annasaheb Jolle |
1,000,000 |
|
Vandana Maltesh |
200,000 |
|
Total |
8,050,000 |
Equity Share Break up (Percentage of Total Equity)
As on 30.09.2010
|
Category |
Percentage |
|
Directors or relatives of Directors |
75.34 |
|
Other top fifty shareholders |
24.66 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Supplier of Dermatological, Prescription
Cosmetology and Skin Care Products. |
|
|
|
|
Products : |
o Anti-Acne Treatment o Atopic Dermatitis & Psoriasis Treatment o Anti-Hair Loss Treatment o Anti-Dandruff Treatment
o Skin Lightening & De-Pigmenting Care o Anti-Acne Care o Photo-Ageing & Sun Protection Care o Anti-Acne Care o Lip Care o Body Care o Hair Care
|
GENERAL INFORMATION
|
Suppliers : |
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|
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|
Customers : |
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|
|
|
|
No. of Employees : |
Not Divulged |
|
|
|
|
Bankers : |
Canara Bank, Overseas Branch, No.28, M G Road, Bangalore-560001, Karnataka, India |
|
Banking
Relations : |
--- |
|
|
|
|
Auditors : |
|
|
Name : |
Mallya Shenoy and Associates Chartered Accountant |
|
Address : |
G1, Janak Residency No. 2, Kumar Krupa Road, Bangalore-560001,
Karnataka, India |
|
Tel. No.: |
91-80-41699481/482 |
|
Fax No.: |
91-80-40914652 |
|
E-Mail : |
CAPITAL STRUCTURE
As on 30.09.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000000 |
Equity Shares |
Rs.10/- each |
Rs. 10.000 Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
8050000 |
Equity Shares |
Rs.10/- each |
Rs. 8.050
Million |
As on 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000000 |
Equity Shares |
Rs.10/- each |
Rs. 10.000 Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
6850000 |
Equity Shares |
Rs.10/- each |
Rs. 8.050
Million |
FINANCIAL DATA
[all figures are in
Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
6.850 |
6.850 |
6.400 |
|
|
2] Share Application Money |
8.200 |
4.900 |
0.000 |
|
|
3] Reserves & Surplus |
3.637 |
3.377 |
2.975 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
18.687 |
15.127 |
9.374 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
10.160 |
8.879 |
0.569 |
|
|
2] Unsecured Loans |
1.658 |
0.720 |
4.858 |
|
|
TOTAL BORROWING |
11.818 |
9.600 |
5.427 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
30.505 |
24.726 |
14.802 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
1.191 |
1.070 |
1.253 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
16.343
|
15.916 |
8.348 |
|
|
Sundry Debtors |
10.649
|
3.191 |
2.987 |
|
|
Cash & Bank Balances |
0.484
|
0.779 |
0.383 |
|
|
Other Current Assets |
0.862
|
1.707 |
0.327 |
|
|
Loans & Advances |
0.348
|
0.258 |
0.055 |
|
Total
Current Assets |
28.688
|
21.851 |
12.100 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
0.000 |
0.000 |
0.000 |
|
|
Other Current Liabilities |
6.900
|
6.020 |
4.106 |
|
|
Provisions |
1.115
|
1.175 |
0.209 |
|
Total
Current Liabilities |
8.015
|
7.195 |
4.315 |
|
|
Net Current Assets |
20.673
|
14.656 |
7.785 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
8.643 |
9.000 |
5.041 |
|
|
|
|
|
|
|
|
TOTAL |
30.505 |
24.726 |
14.802 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
11.918 |
17.221 |
|
|
|
Other Income |
|
1.210 |
2.122 |
|
|
|
TOTAL |
NA |
13.128 |
19.343 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
|
|||
|
|
|
Priliminary Expenses W/o |
|
0.057 |
0.057 |
|
|
|
Advertising Expenses |
|
10.827 |
19.202 |
|
|
|
TOTAL |
NA |
10.884 |
19.259 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION) |
|
2.244 |
0.084 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
|
1.212 |
0.479 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
NA |
1.032 |
-0.395 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
|
0.236 |
0.283 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX |
0.105 |
0.796 |
(0.678) |
|
|
|
|
|
|
|
|
|
Less |
TAX |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS) AFTER TAX |
0.105 |
0.796 |
(0.678) |
|
|
|
|
|
|
|
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
NA
|
0.06 |
(0.03) |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
NA
|
0.06 |
(0.03) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.00
|
0.03 |
(0.05) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.01
|
0.05 |
(0.07) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.63
|
0.63 |
1.57 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
3.57
|
3.03 |
2.80 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2008 |
31.03.2009 |
31.03.2010 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Share Capital |
6.400 |
6.850 |
6.850 |
|
Reserves & Surplus |
0.000 |
4.900 |
8.200 |
|
Net
worth |
6.400 |
11.750 |
15.050 |
|
|
|
|
|
|
Secured Loans |
0.569 |
8.879 |
10.160 |
|
Unsecured Loans |
4.858 |
0.720 |
1.658 |
|
Total
borrowings |
5.427 |
9.599 |
11.818 |
|
Debt/Equity
ratio |
0.848 |
0.817 |
0.785 |
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 |
No |
|
4] |
Premises details |
Yes |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
No |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact person |
Yes |
|
11] |
Turnover of firm for last two 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) |
No |
|
21] |
Market information |
---------------------- |
|
22] |
Litigations that the firm / promoter involved in |
---------------------- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
No |
|
25] |
Conduct of the banking account |
---------------------- |
|
26] |
Buyer visit details |
---------------------- |
|
27] |
Financials, if provided |
No |
|
28] |
Incorporation details, if applicable |
No |
|
29] |
Last accounts filed at ROC |
No |
|
30] |
Major Shareholders, if available |
No |
|
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 |
Note:
The registered office of the company has been shifted from No.273, II Floor,
Jois Plaza, 100Ft Ring Road, Banashankari III Stage, 3rd Phase, 5th Block,
Bangalore-560085, Karnataka, India to present address w.e.f. 01.05.2012
GENERAL REVIEW
The company’s performance was not satisfactory during the year. The company could not achieve its turnover as
well it could not achieve its target of Net Profit. The Directors are hopeful that the company shall be able to
achieve its target of Net Profit in the year to come.
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10064881 |
10/07/2007 |
650,000.00 |
CANARA BANK |
OVERSEAS BRANCH, NO.28,, M G ROAD, BANGALORE, KAR |
A21734421 |
|
2 |
10050022 |
27/09/2008 * |
15,000,000.00 |
CANARA BANK |
OVERSEAS BRANCH, CENTENARY BLDG., NO.28, M G ROAD |
A48482095 |
* Date of charge modification
FIXED ASSETS
- Air
Conditioner
- Computer
Laptop and Accessories
- Digital
Camera
- Furniture and
Fixture
- Mahindra
Logan
- Mobile Sets
- Printers
- U P S
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 records 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.59.19 |
|
|
1 |
Rs.99.91 |
|
Euro |
1 |
Rs.80.83 |
INFORMATION DETAILS
|
Information
Gathered by : |
PRT |
|
|
|
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
ASH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
2 |
|
PAID-UP CAPITAL |
1~10 |
2 |
|
OPERATING SCALE |
1~10 |
1 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
2 |
|
--PROFITABILIRY |
1~10 |
1 |
|
--LIQUIDITY |
1~10 |
1 |
|
--LEVERAGE |
1~10 |
1 |
|
--RESERVES |
1~10 |
1 |
|
--CREDIT LINES |
1~10 |
1 |
|
--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 |
|
12 |
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.