MIRA INFORM REPORT
|
Report Date : |
19.06.2014 |
IDENTIFICATION DETAILS
|
Name : |
GURUKRUPA PLASTICS |
|
|
|
|
Registered
Office : |
Unit No. 15, Sonal Industrial Estate, Link Road, Malad (West), Mumbai –
400064, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
1995 |
|
|
|
|
Capital
Investment : |
Rs. 18.208 Millions |
|
|
|
|
PAN No.: [Permanent Account No.] |
AADFG5179 |
|
|
|
|
Legal Form : |
Partnership Concern with an Unlimited Liability of the Partners |
|
|
|
|
Line of Business
: |
Trader and Importer of Polymers. |
|
|
|
|
No. of Employees
: |
31 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (27) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 73000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established partnership concern having moderate track
record. Profitability of the concern seems to be low during 2013. However, trade relations are reported to be fair. Business is active.
Payment terms are reported to be slow but correct. The concern can be considered for business dealing with some cautions. |
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
|
Name : |
Ms. Poonam |
|
Designation : |
Accounts Executive |
|
Contact No.: |
91-22-66951140 |
|
Date : |
17.06.2014 |
LOCATIONS
|
Registered Office : |
Unit No. 15, Sonal Industrial Estate, |
|
Tel. No.: |
91-22-66951140 / 66951150 / 66951160 |
|
Mobile No.: |
91-9821111673 (Mr. Shailesh Shah) |
|
Fax No.: |
91-22-66951150 |
|
E-Mail : |
|
|
Area : |
1500 Sq. ft. |
|
Location : |
Owned |
|
|
|
|
Warehouse : |
Unit No. K – 1, K 16, Sonal Industrial Estate, Link Road, Malad
(West), Mumbai – 400064, Maharashtra, India Also Located at ·
Vasai ·
·
Silvassa |
PARTNERS
|
Name : |
Mr. Shailesh Shah |
|
Designation : |
Partner |
|
Date of Birth/Age : |
46 Years |
|
Qualification : |
B.Sc. |
|
|
|
|
Name : |
Mr. Jayesh R. Shah |
|
Designation : |
Partner |
|
Date of Birth/Age : |
48 Years |
|
Qualification : |
B.Com |
KEY EXECUTIVES
|
Name : |
Ms. Poonam |
|
Designation : |
Accounts Executive |
BUSINESS DETAILS
|
Line of Business : |
Trader and Importer of Polymers. |
|
|
|
|
Imports : |
|
|
Products : |
Polymers |
|
Countries : |
·
·
·
Iran ·
Europe ·
Saudi Arabia |
|
|
|
|
Terms : |
|
|
Selling : |
Cash and Credit |
|
|
|
|
Purchasing : |
Cash and Credit |
GENERAL INFORMATION
|
Supplier: |
Bhadresh Enterprises |
|
|
|
|
Customers : |
End users · Akshar Extrusions Private Limited |
|
|
|
|
No. of Employees : |
31 (Approximately) |
|
|
|
|
Bankers : |
· Kotak Mahindra Bank, Malad Link Road, Mumbai, Maharashtra, India · City Bank · J.P. Morgan Chase Bank N.A. |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Financial Institution : |
· Kotak Mahindra Prime Limited · Sundaram Finance Limited |
|
|
|
|
Auditors : |
|
|
Name : |
PV Paresh and Company Chartered Accountants |
|
Address : |
17/B, Ajanta Shopping Centre, 1st Floor, Daftary Road,
Malad (East), Mumbai – 400097, Maharashtra, India |
|
Tel. No.: |
91-22-28823309/ 28890113 |
|
Mob. No.: |
91-9820045739 |
|
E-Mail : |
|
|
|
|
|
Sister Concerns: |
Surja Plastics Address: Unit No. K-1,
Sonal Industrial Estate, Link Road, Malad(W), Mumbai 400064, Maharashtra,
India Line of Business
: Trader and Importer of Polymers. |
CAPITAL STRUCTURE
As on 31.03.2013
|
Capital Investment : |
|
|
Owned : |
Rs. 18.208 Millions |
|
Borrowed : |
-- |
|
Total : |
Rs. 18.208
Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
Note: Sole Proprietary and Partnership concerns are
exempted from filing their financials with the Government Authorities or
Registry.
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2013 |
31.03.2012 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Parters Capital |
|
18.208 |
11.216 |
|
|
2] Share Application Money |
|
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
|
0.000 |
0.000 |
|
|
4] (Accumulated Losses) |
|
0.000 |
0.000 |
|
|
NETWORTH |
|
18.208 |
11.216 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
21.385 |
0.716 |
|
|
2] Unsecured Loans |
|
11.926 |
12.564 |
|
|
TOTAL BORROWING |
|
33.311 |
13.280 |
|
|
DEFERRED TAX LIABILITIES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
51.519 |
24.496 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
5.917 |
3.553 |
|
|
Capital work-in-progress |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
17.029
|
17.616
|
|
|
Sundry Debtors |
|
67.521
|
59.168
|
|
|
Cash & Bank Balances |
|
0.630
|
0.047
|
|
|
Other Current Assets |
|
0.105
|
4.482
|
|
|
Loans & Advances |
|
27.472
|
17.699
|
|
Total
Current Assets |
|
112.757
|
99.012
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
65.819
|
76.499
|
|
|
Other Current Liabilities |
|
1.319
|
1.553
|
|
|
Provisions |
|
0.017
|
0.017
|
|
Total
Current Liabilities |
|
67.155
|
78.069
|
|
|
Net Current Assets |
|
45.602
|
20.943
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
51.519 |
24.496 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
442.347 |
469.978 |
|
|
|
Other Income |
|
10.058 |
6.924 |
|
|
|
TOTAL |
|
452.405 |
476.902 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Goods Sold |
|
426.609 |
451.011 |
|
|
|
A. C Repairs |
|
0.000 |
0.012 |
|
|
|
Bank Charges |
|
0.821 |
0.154 |
|
|
|
Business Promotion |
|
0.000 |
0.093 |
|
|
|
Computer Expenses |
|
0.055 |
0.072 |
|
|
|
Conveyance Expenses A/c |
|
0.035 |
0.007 |
|
|
|
Courier Charges |
|
0.037 |
0.038 |
|
|
|
Electric Expenses |
|
0.017 |
0.130 |
|
|
|
Insurance Charges |
|
0.113 |
0.169 |
|
|
|
Interest on car Loan |
|
0.098 |
0.113 |
|
|
|
Interest Paid (Other) |
|
0.377 |
0.345 |
|
|
|
Office Expenses A/c |
|
0.026 |
0.056 |
|
|
|
Petrol Expenses A/c Car |
|
0.413 |
0.437 |
|
|
|
Printing and Stationery |
|
0.022 |
0.016 |
|
|
|
Professional Charges |
|
0.066 |
0.061 |
|
|
|
Rent - Gala |
|
0.510 |
0.422 |
|
|
|
Repair and Maintenance-Vehicles |
|
0.385 |
0.141 |
|
|
|
Repair Maintenance-Gala |
|
0.000 |
0.037 |
|
|
|
Repair and Maintenance |
|
0.000 |
0.014 |
|
|
|
Repair and Maintenance Office |
|
0.016 |
0.000 |
|
|
|
Salary Expenses A/c |
|
1.923 |
1.780 |
|
|
|
Sales Promotion |
|
0.022 |
0.000 |
|
|
|
Telephone Expenses |
|
0.233 |
0.202 |
|
|
|
Tempo Petrol / Diesel Expenses |
|
1.249 |
0.758 |
|
|
|
Transport, Freight and Octroi |
|
0.357 |
0.456 |
|
|
|
Travelling Expenses |
|
0.000 |
0.184 |
|
|
|
Audit Fees |
|
0.000 |
0.030 |
|
|
|
Bank Interest Paid |
|
0.548 |
0.739 |
|
|
|
Bonus |
|
0.158 |
0.000 |
|
|
|
Commission Paid |
|
0.690 |
0.795 |
|
|
|
CST Paid-Daman |
|
0.092 |
0.438 |
|
|
|
CST Paid-Silvassa |
|
0.307 |
0.044 |
|
|
|
CST Paid-Vasai |
|
1.269 |
1.008 |
|
|
|
Discount Given |
|
0.000 |
0.014 |
|
|
|
Franking Charges |
|
0.000 |
0.031 |
|
|
|
Digital Signatory Charges |
|
0.002 |
0.000 |
|
|
|
Import Expenses |
|
0.012 |
0.210 |
|
|
|
Interest for Vat. Sales Tax |
|
0.004 |
0.001 |
|
|
|
Interest on Capital – Partner |
|
1.346 |
0.322 |
|
|
|
Interest Charges for Vasai |
|
0.005 |
0.009 |
|
|
|
Interest Charger Expenses |
|
0.045 |
0.014 |
|
|
|
L.C. Opening/ Amendment Charges/ Discount |
|
0.310 |
0.696 |
|
|
|
Loss in booking of foreign currency |
|
0.054 |
0.000 |
|
|
|
Loading and unloading Charges |
|
0.000 |
0.028 |
|
|
|
Loss on Sale of Assets (Car) |
|
0.000 |
0.228 |
|
|
|
Motor Car Expenses |
|
0.010 |
0.000 |
|
|
|
Office Maintenance |
|
0.005 |
0.000 |
|
|
|
Petrol Expenses |
|
0.000 |
0.034 |
|
|
|
Remuneration to partner |
|
2.468 |
3.678 |
|
|
|
Repair and Maintenance – Office
|
|
0.000 |
0.083 |
|
|
|
Repair and Maintenance – Vehicle |
|
0.000 |
0.065 |
|
|
|
Repair and Maintenance - Computer |
|
0.023 |
0.000 |
|
|
|
Staff Welfare Expenses |
|
0.011 |
0.045 |
|
|
|
Sundry Expenses |
|
0.003 |
0.046 |
|
|
|
Tempo Expenses |
|
0.000 |
0.070 |
|
|
|
Vatav Kasar/ Discount |
|
0.044 |
0.031 |
|
|
|
Vat Tax Paid – Daman |
|
1.092 |
1.629 |
|
|
|
Vat Tax Paid – Silvassa |
|
2.876 |
2.025 |
|
|
|
Vat Tax Paid - Vasai |
|
5.371 |
4.946 |
|
|
|
Exchange rate diff- Buyer Credit |
|
(0.071) |
0.000 |
|
|
|
TOTAL |
|
450.058 |
473.967 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
|
2.347 |
2.935 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
|
0.852 |
0.633 |
|
|
|
|
|
|
|
|
|
|
NET PROFIT |
|
1.495 |
2.302 |
|
KEY RATIOS
|
PARTICULARS |
|
|
31.03.2013 |
31.03.2012 |
|
PAT / Total Income |
(%) |
|
0.33 |
0.48 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
|
0.34 |
0.49 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
|
1.26 |
2.24 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
|
0.08 |
0.21 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
|
1.83 |
1.18 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
|
1.68 |
1.27 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
|
31.03.2012 |
31.03.2013 |
|
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Share Capital |
|
11.216 |
18.208 |
|
Reserves & Surplus |
|
0.000 |
0.000 |
|
Net
worth |
|
11.216 |
18.208 |
|
|
|
|
|
|
Secured Loans |
|
0.716 |
21.385 |
|
Unsecured Loans |
|
12.564 |
11.926 |
|
Total
borrowings |
|
13.280 |
33.311 |
|
Debt/Equity
ratio |
|
1.184 |
1.829 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
|
31.03.2012 |
31.03.2013 |
|
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
|
469.978 |
442.347 |
|
|
|
|
-5.879 |
NET PROFIT MARGIN
|
Net
Profit Margin |
|
31.03.2012 |
31.03.2013 |
|
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
|
469.978 |
442.347 |
|
Profit |
|
2.302 |
1.495 |
|
|
|
0.49% |
0.34% |
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
two years |
Yes |
|
12] |
Profitability for last
two 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 |
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 |
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 |
FIXED ASSETS
· Air Conditioner
· Car
· Computer
· EPABX
· Fax Machine
· Furniture and Fixture
· Mobile
· Printer
· Tempo
· Water Filter
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair and
reasonable and comparable to compensation paid to others for similar services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.12 |
|
|
1 |
Rs.102.00 |
|
Euro |
1 |
Rs.81.43 |
INFORMATION DETAILS
|
Information
Gathered by : |
PLK |
|
|
|
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
MRI |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
|
27 |
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.