MIRA INFORM REPORT
|
Report Date : |
19.06.2014 |
IDENTIFICATION DETAILS
|
Name : |
KHAMKAR CONSTRUCTIONS PRIVATE LIMITED |
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Registered
Office : |
Unit No.401,402,403,404,C-3 Building, Saudamini Complex, 4th
Floor, SN101/1, Bhusari Colony, Paud Road, Kothrud, Pune – 411038,
Maharashtra |
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Country : |
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Financials (as
on) : |
31.03.2013 |
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Date of
Incorporation : |
13.05.2002 |
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Com. Reg. No.: |
11-016981 |
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Capital
Investment / Paid-up Capital : |
Rs.1.500 Millions |
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|
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CIN No.: [Company Identification
No.] |
U45202PN2002PTC016981 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
PNEK04835F / PNEK07542D |
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PAN No.: [Permanent Account No.] |
AACCK0876F |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Construction Activity |
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No. of Employees
: |
Information declined by Management |
RATING & COMMENTS
|
MIRA’s Rating : |
B (28) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 240000 |
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Status : |
Moderate |
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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 moderate track. Profitability of the company 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 company 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
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 DECLINED
MANAGEMENT NON CO-OPERATIVE
Contact No.: 91-20-41005600
LOCATIONS
|
Registered Office : |
Unit No.401,402,403,404,C-3 Building, Saudamini Complex, 4th
Floor, SN101/1, Bhusari Colony, Paud Road, Kothrud, Pune – 411038,
Maharashtra, India |
|
Tel. No.: |
91-20-41005600 |
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Fax No.: |
91-20-41005640 |
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E-Mail : |
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Website : |
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Location : |
Owned |
DIRECTORS
(AS ON 30.09.2013)
|
Name : |
Mr. Narendra Suryakant Khamkar |
|
Designation : |
Director |
|
Address : |
A4/703, Nandan Prospera, S. No. 22, Balewadi Road, Baner, Pune –
411045, Maharashtra, India |
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Date of Birth/Age : |
08.08.1952 |
|
Date of Appointment : |
13.05.2002 |
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DIN No.: |
00360551 |
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|
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Name : |
Mr. Salil Narendra Khamkar |
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Designation : |
Director |
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Address : |
B-3/404, Kumar Parisar, Behind Gandhi Bhavan, Kothrud, Pune – 411029,
Maharashtra, India |
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Date of Birth/Age : |
02.09.1978 |
|
Date of Appointment : |
13.05.2002 |
|
DIN No.: |
00501968 |
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|
|
Name : |
Mrs. Hemlata Narendra Khamkar |
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Designation : |
Director |
|
Address : |
B-3/404, Kumar Parisar, Behind Gandhi Bhavan, Kothrud, Pune – 411029,
Maharashtra, India |
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Date of Birth/Age : |
14.07.1953 |
|
Date of Appointment : |
13.05.2002 |
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DIN No.: |
00360389 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
(AS ON 30.09.2013)
|
Name of
Shareholders |
|
No of
Shares |
|
Narendra Khamkar jointly with Hemlata Khamkar |
|
6749 |
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Hemlata Khamkar jointly with Narendra Khamkar |
|
2250 |
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Salil Khamkar jointly with Meghana Khamkar |
|
3750 |
|
Ketaki Deshmukh |
|
1500 |
|
Deepa Mekal jointly with Pallavi Puntamberk jointly with Parulkher |
|
1 |
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Deepa Mekal jointly with Sudhir Mekal |
|
300 |
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Subhash-Dhatonde jointly with Rekha Dhatonde |
|
300 |
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Sukhadeo Bndre jointly with Kalpana Bondre |
|
150 |
|
|
|
|
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Total |
|
15000 |
(AS ON 30.09.2013)
Equity Shares Break – up
|
Category |
|
Percentage |
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|
|
|
Directors or relatives of directors |
|
95.00 |
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Other top fifty shareholders |
|
5.00 |
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|
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Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Construction Activity |
GENERAL INFORMATION
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No. of Employees : |
Information declined by Management |
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Bankers : |
· Axis Bank Limited Corporate Banking Branch, 214/215, 2nd Floor, City Mall Ganeshki · Bank of Maharashtra Kothrud, Pune – 411038, Maharashtra, India · HDFC Bank Limited HDFC Bank House Senapati Bapat Marg, Lower Parel (West), Mumbai – 400013, Maharashtra, India · Kotak Mahindra Limited |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
G. K. Chandavarkar and Company Chartered Accountants |
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Address : |
B-5, Tejalkunj, Opposite Sargam Press, Off Karve Road, Kothrud, Pune –
411038, Maharashtra, India |
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Tel. No.: |
91-22-25449498 |
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E-Mail : |
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PAN No.: |
AAUPC5628A |
CAPITAL STRUCTURE
(AS ON 30.09.2013)
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
15000 |
Equity Shares |
Rs.100/- each |
Rs.1.500 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
15000 |
Equity Shares |
Rs.100/-
each |
Rs.1.500
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 |
1.500 |
1.500 |
1.500 |
|
(b) Reserves & Surplus |
57.309 |
54.057 |
53.310 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
0.000 |
0.000 |
0.500 |
|
Total
Shareholders’ Funds (1)+(2) |
58.809 |
55.557 |
55.310 |
|
|
|
|
|
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(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
25.276 |
23.143 |
37.073 |
|
(b) Deferred tax liabilities (Net) |
0.725 |
1.120 |
1.070 |
|
(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) |
26.001 |
24.263 |
38.143 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
51.958 |
46.529 |
18.318 |
|
(b) Trade
payables |
59.302 |
36.052 |
44.797 |
|
(c) Other current
liabilities |
37.947 |
27.256 |
29.953 |
|
(d) Short-term
provisions |
0.844 |
0.213 |
5.550 |
|
Total Current
Liabilities (4) |
150.051 |
110.050 |
98.618 |
|
|
|
|
|
|
TOTAL |
234.861 |
189.870 |
192.071 |
|
|
|
|
|
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II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
33.803 |
31.622 |
31.434 |
|
(ii)
Intangible Assets |
0.000 |
3.509 |
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 |
4.900 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
0.000 |
0.000 |
0.000 |
|
(e) Other Non-current
assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
33.803 |
35.131 |
36.334 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
113.129 |
108.061 |
95.610 |
|
(c) Trade
receivables |
40.437 |
11.331 |
27.351 |
|
(d) Cash
and cash equivalents |
20.328 |
14.981 |
17.206 |
|
(e)
Short-term loans and advances |
14.890 |
8.411 |
8.015 |
|
(f) Other
current assets |
12.274 |
11.955 |
7.555 |
|
Total
Current Assets |
201.058 |
154.739 |
155.737 |
|
|
|
|
|
|
TOTAL |
234.861 |
189.870 |
192.071 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from Operations |
378.789 |
245.957 |
245.853 |
|
|
|
Other Income |
5.498 |
1.847 |
1.641 |
|
|
|
TOTAL |
384.287 |
247.804 |
247.494 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
380.586 |
246.737 |
230.306 |
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX |
3.701 |
1.067 |
17.188 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
0.450 |
0.319 |
5.721 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
AFTER TAX |
3.251 |
0.748 |
11.467 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
216.73 |
-- |
-- |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
0.85 |
0.30 |
4.63 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
0.98 |
0.43 |
6.99 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.58 |
0.56 |
9.18 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.06 |
0.02 |
0.31 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
1.31 |
1.25 |
1.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.34 |
1.41 |
1.58 |
FINANCIAL ANALYSIS
[All figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(INR in Mlns.) |
(INR in Mlns.) |
(INR in Mlns.) |
|
Share Capital |
1.500 |
1.500 |
1.500 |
|
Reserves & Surplus |
53.310 |
54.057 |
57.309 |
|
Share Application money
pending allotment |
0.500 |
0.000 |
0.000 |
|
Net worth |
55.310 |
55.557 |
58.809 |
|
|
|
|
|
|
long-term borrowings |
37.073 |
23.143 |
25.276 |
|
Short term borrowings |
18.318 |
46.529 |
51.958 |
|
Total borrowings |
55.391 |
69.672 |
77.234 |
|
Debt/Equity ratio |
1.001 |
1.254 |
1.313 |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(INR in Mlns) |
(INR in Mlns) |
(INR in Mlns) |
|
Revenue from
Operations |
245.853 |
245.957 |
378.789 |
|
|
|
0.042 |
54.006 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(INR in Mlns) |
(INR in Mlns) |
(INR in Mlns) |
|
Revenue from Operations |
245.853 |
245.957 |
378.789 |
|
Profit |
11.467 |
0.748 |
3.251 |
|
|
4.66% |
0.30% |
0.86% |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITY
OF LONG TERM BORROWINGS DETAIL: 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 |
No |
|
9] |
Name of person contacted |
No |
|
10] |
Designation of contact person |
No |
|
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 |
No |
|
20] |
Export / Import details (if applicable) |
No |
|
21] |
Market information |
----- |
|
22] |
Litigations that the firm / promoter
involved in |
----- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking account |
----- |
|
26] |
Buyer visit details |
----- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if applicable |
Yes |
|
29] |
Last accounts filed at ROC |
Yes |
|
30] |
Major Shareholders, if available |
Yes |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of Proprietor/Partner/Director, if
available |
No |
|
33] |
Voter ID No of Proprietor/Partner/Director,
if available |
No |
|
34] |
External Agency Rating, if available |
No |
UNSECURED LOANS
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
|
|
(Rs. In Millions) |
|
|
Long Term
Borrowings |
|
|
|
Term Loans from Kotak Mahindra Limited (Against directors Personal Guarantee) |
0.000 |
1.365 |
|
Term Loan – Barklays Bank (Against directors Personal Guarantee) |
1.071 |
2.469 |
|
From Shareholders and Others |
16.279 |
17.629 |
|
|
|
|
|
Short Term
Borrowings |
|
|
|
Term Loans from Kotak Mahindra Limited (Against directors Personal Guarantee) |
0.000 |
0.185 |
|
Term Loans from Kotak Mahindra Limited (Against directors Personal Guarantee) |
1.365 |
2.062 |
|
Term Loan – Barklays Bank (Against directors Personal Guarantee) |
1.397 |
1.180 |
|
From Shareholders and Others |
0.600 |
0.000 |
|
|
|
|
|
Total |
20.712 |
24.890 |
NOTE:
The Registered office of the company has been
shifted from Office No.2, 2nd Floor, Punit Yash Arcade Near Kothrud Bus
Stand Kothrud, Pune – 411029, Maharashtra, India to the present address w.e.f.
01.06.2008.
CONTINGENT LIABILITIES
Contingent Liability as on 31st
March 2013 is Rs.78.763 Millions pertaining to Open Bank Guarantee against
security deposit and Mobilization advance, (As against Bank Guarantee of
Rs.34.584 Millions as on 31st March 2012)
INDEX OF CHARGES: NO CHARGES EXIST FOR COMPANY
|
S. No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number
(SRN) |
|
1 |
10455514 |
17/09/2013 |
10,000,000.00 |
BANK OF MAHARASHTRA |
KOTHRUD, PUNE,
Maharashtra - 411038, INDIA |
B87725461 |
|
2 |
10394821 |
05/11/2012 |
50,000,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI BAPAT
MARG, LOWER PAREL W |
B65111270 |
|
3 |
10367805 |
18/01/2013 * |
150,000,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI
BAPAT MARG, LOWER PAREL W |
B66733031 |
|
4 |
10359926 |
19/05/2012 |
3,200,000.00 |
BANK OF MAHARASHTRA |
KOTHRUD, PUNE,
Maharashtra - 411038, INDIA |
B41319054 |
|
5 |
10314634 |
05/10/2011 |
2,200,000.00 |
BANK OF MAHARASHTRA |
ANAND NILAY SOCITY, NEAR
KARVE STATUE, KARVE ROAD |
B24113987 |
* Date of charge modification
FIXED ASSETS:
·
Plant and Machinery
·
Furniture and Fixtures
·
Computer
·
Office Equipments
·
Vehicles
·
Office Premises
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.60.01 |
|
|
1 |
Rs.101.99 |
|
Euro |
1 |
Rs.81.25 |
INFORMATION DETAILS
|
Information
Gathered by : |
HTL |
|
|
|
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
NIT |
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 |
4 |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
28 |
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.