MIRA INFORM REPORT
|
Report Date : |
19.06.2014 |
IDENTIFICATION DETAILS
|
Name : |
WEST COAST POLYCHEM PRIVATE LIMITED (w.e.f. 21.03.2003) |
|
|
|
|
Formerly Known
As : |
WEST COAST adhesives PRIVATE
LIMITED |
|
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|
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Registered
Office : |
136, Tardeo Road, Hind Rubber Building, Mumbai – 400034, Maharashtra |
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Country : |
India |
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Financials (as
on) : |
31.03.2013 |
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Date of
Incorporation : |
24.08.1992 |
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Com. Reg. No.: |
11-068258 |
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Capital
Investment / Paid-up Capital : |
Rs. 5.000 millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
u25190mh1992ptc068258 |
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|
|
IEC No.: |
0392059738 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
mumw023958 |
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PAN No.: [Permanent Account No.] |
AAACW0529R |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer and Distributor of Synthetic Adhesives, Rubber Chemicals,
Synthetic Rubber and Compound, Polyurethane Rubber and Cast Polyurethanes. |
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|
|
|
No. of Employees
: |
Information declined by management |
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 |
|
Maximum Credit Limit : |
USD 143000 |
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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. General financial position of the company seems to be sound. Trade relations are fair. Business is active. Payment terms are
reported to be slow but correct. The company can be considered for business dealings at usual trade
terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
INDIAN ECONOMIC OVERVIEW
N E W S
The economy grew 4.7 %in 2013/14, marking a
second straight year of sub-5 % growth – the worst slowdown in more than a
quarter of a century. The data was below an official estimate of 4.9 % annual growth
and compared with 4.5 % in the last fiscal year. However, the current account
deficit narrowed sharply to $ 32.4 billion at 1.7 % of gross domestic product,
in 2013/14 from a record high of $ 98.8 billion or 4.7 %, the year before.A
sharp fall in gold imports due to restrictions on overseas purchases and muted
import of capital goods helped shrink the current account deficit.
Online retailer Flipkart has acquired fashion
portal Myntra as it prepares to battle with the rapidly expanding India arm of the
global e-commerce giant Amazon. The company raised $ 210 million from Russian
Investment firm DST Global which has also invested in companies like Facebook,
Twitter and Alibaba Group.
General Motors will start exporting vehicles
from its Talegaon plant near Pune in the second half of 2014. GM was one of the
few global carmakers that was using its India plant only for the domestic
market.
Google has overtaken Apple as the world’s top
brand in terms of value, according to global market research agency Millward
Brown. Google’s brand value shot up 40 % in a year to $ 158.84 billion. The top
10 of the 100 slots were dominated by US companies.
Infosys lost another heavy weight when B G
Srinivas, a board member put in his papers. He is the third CEO-hopeful to quit
after Chairman N R Narayana Murthy’s return to the company – Ashok Vemuri and V
Balakrishnan being the other two.While Vemuri went on to lead IGate,
Balakrishnan joined politics.
Naresh Goyal – promoted Jet Airways posted
biggest quarterly loss – Rs 2153.37 crore – in the three months ended March 31,
mainly because it has been offering discounts to passengers to fill planes.
William S Pinckney – Chairman and CEO of
Amway India was arrested by the Andhra Pradesh Police in connection with a
complaint against the direct selling firm. This is the second time that he has
been taken into custody. A year, ago the Kerala Police had arrested Pinckney
and two company directors on charges of financial irregularities.
China has told its state-owned enterprises to
sever links with American consulting firms after the United States charged five
Chinese military officers wih hacking US companies. China’s action which
targets consultancies like McKinsey & Co. and the Boston Consulting Group,
sterns from fears that the first are providing trade secrets to the US
governments.
India has emerged as a country with some of
the highest unregistered businesses in the world. Indonesia has the maximum
number of shadow businesses, says a study of 68 countries by Imperial College
Business School in London.
Pfizer has abandoned its attempt to buy
AstraZeneca for nearly $ 118 billion after the latter refused an offer of 55
pounds a share.
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter in
the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
INFORMATION DECLINED BY
|
Name : |
Mr. Parmar |
|
Designation : |
Accounts Executive |
|
Contact No.: |
91-22-23513754 |
|
Date : |
17.06.2014 |
LOCATIONS
|
Registered Office : |
136, Tardeo Road, Hind Rubber Building, Mumbai – 400034, Maharashtra,
India |
|
Tel. No.: |
91-22-23543471/ 23513754 |
|
Fax No.: |
91-22-23523360 |
|
E-Mail : |
accounts@westcoastpolychem.com tardeo@vsnl.com uttam@westcoastpolychem.com |
|
Website : |
www.westcoastpolychem.com
|
|
Location: |
Rented |
|
Area: |
1000 sq. ft. |
|
|
|
|
Factory: |
Plot No. A-753, TTC Industrial Area, MIDC, Navi Mumbai – 400705, Maharashtra India |
|
Tel. No.: |
91-22-27780102 |
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Fax No.: |
91-22-27780726 |
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Location: |
Owned |
|
Area: |
16500 sq. ft. |
|
|
|
|
Branch Office : |
Plot No. 27/38, Luxmi Ratan Compound, Industrial Area, Faridabad – 121001, Haryana, India |
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Tel. No.: |
91-129-4313517 |
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Location: |
Rented |
|
Area: |
1000 sq. ft. |
DIRECTORS
As on 30.09.2013
|
Name : |
Mr. Uttamkumar Kishorechandra Jhunjhunwalla |
|
Designation : |
Director |
|
Address : |
41, Panorama, 203, Walkeshwar Road, Mumbai – 400006, Maharashtra,
India |
|
Date of Birth/Age : |
02.05.1967 |
|
Qualification : |
B.Com, MBA |
|
Date of Appointment : |
24.08.1992 |
|
DIN No. : |
01262588 |
|
|
|
|
Name : |
Mr. Bharatendu Kishorechandra Jhunjhunwalla |
|
Designation : |
Director |
|
Address : |
11, Panorama, 203, Walkeshwar Road, Mumbai – 400006, Maharashtra,
India |
|
Date of Birth/Age : |
14.12.1974 |
|
Qualification : |
B. Com |
|
Date of Appointment : |
03.03.2010 |
|
DIN No. : |
02132730 |
KEY EXECUTIVES
|
Name : |
Mr. Parmar |
|
Designation : |
Accounts Executive |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2013
|
Names of Shareholders |
No. of Shares |
|
Uttam Jhunjhunwalla |
90000 |
|
Kishorechandra Jhunjhunwalla |
71000 |
|
Radha Jhunjhunwala |
75000 |
|
Uttam Jhunjhunwalla (HUF) |
2500 |
|
Bharat Jhunjhunwalla |
75000 |
|
Shefali Jhunjhunwalla |
75000 |
|
Kishorechandra Jhunjhunwalla (HUF) |
2500 |
|
Kishorechandra Jhunjhunwalla (HUF) |
12500 |
|
Spersh Finance and Investments Private Limited, India |
77500 |
|
Aparna Jhujhunwala |
5000 |
|
Bharat Jhunjhunwalla (HUF) |
4500 |
|
Varun Jhunjhunwalla |
9500 |
|
Total |
500000 |
As on 30.09.2013
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
Bodies corporate |
15.50 |
|
Directors or relatives of Directors |
84.50 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Distributor of Synthetic Adhesives, Rubber Chemicals,
Synthetic Rubber and Compound, Polyurethane Rubber and Cast Polyurethanes. |
GENERAL INFORMATION
|
No. of Employees : |
Information declined by management |
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Bankers : |
· Bank of Baroda, Nariman Point Branch, Foreshore Building, Gen Bhosale Marg, Nariman point, Mumbai – 400 021, Maharashtra, India · HDFC Bank Limited |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
|
|
Name : |
Prajapati and Associates Chartered Accountants |
|
Address : |
103, Sakhi Apartments, M.G. Road, Kandivali (West), Mumbai – 400067,
Maharashtra India |
|
Tel. No.: |
91-22-28654935/ 28610817 |
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Mob. No.: |
91-9324654935 |
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E-mail: |
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|
Income-tax
PAN of auditor or auditor's firm : |
AAEFP5836B |
CAPITAL STRUCTURE
As on 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
500,000 |
Equity Shares |
Rs.10/- each |
Rs. 5.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
500,000 |
Equity Shares |
Rs.10/- each |
Rs. 5.000 Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders'
Funds |
|
|
|
|
(a) Share Capital |
5.000 |
5.000 |
5.000 |
|
(b) Reserves & Surplus |
20.669 |
17.940 |
14.615 |
|
(c) Money
received against Share Warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2)
Share Application money pending allotment |
10.000 |
10.000 |
10.000 |
|
Total
Shareholders’ Funds (1) + (2) |
35.669 |
32.940 |
29.615 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term Borrowings |
52.444 |
42.464 |
21.841 |
|
(b) Deferred Tax Liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other Long Term
Liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
Provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
52.444 |
42.464 |
21.841 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short
Term Borrowings |
16.887 |
4.488 |
19.047 |
|
(b) Trade
Payables |
11.440 |
12.276 |
3.702 |
|
(c) Other
Current Liabilities |
8.137 |
7.638 |
5.318 |
|
(d) Short-term
Provisions |
7.405 |
8.071 |
6.162 |
|
Total Current
Liabilities (4) |
43.869 |
32.473 |
34.229 |
|
|
|
|
|
|
TOTAL |
131.982 |
107.877 |
85.685 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible Assets |
30.167 |
6.504 |
8.126 |
|
(ii)
Intangible Assets |
0.155 |
0.183 |
0.211 |
|
(iii)
Capital Work-in-Progress |
3.216 |
3.003 |
0.565 |
|
(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) |
0.003 |
0.184 |
0.096 |
|
(d) Long-term Loan and Advances |
0.437 |
10.475 |
0.410 |
|
(e) Other
Non-current Assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
33.978 |
20.349 |
9.408 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current Investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
35.979 |
39.932 |
35.841 |
|
(c) Trade
Receivables |
49.613 |
36.488 |
31.619 |
|
(d) Cash
and Cash Equivalents |
3.130 |
0.867 |
0.442 |
|
(e)
Short-term Loans and Advances |
1.842 |
1.305 |
2.504 |
|
(f) Other
Current Assets |
7.440 |
8.936 |
5.871 |
|
Total
Current Assets |
98.004 |
87.528 |
76.277 |
|
|
|
|
|
|
TOTAL |
131.982 |
107.877 |
85.685 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
Less |
TAX |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
4.132 |
4.838 |
5.772 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
0.187 |
0.226 |
0.233 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
8.26 |
9.68 |
11.54 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
1.94 |
1.43 |
1.38 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.23 |
2.70 |
2.23 |
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 |
5.000 |
5.000 |
5.000 |
|
Reserves & Surplus |
14.615 |
17.940 |
20.669 |
|
Share Application money
pending allotment |
10.000 |
10.000 |
10.000 |
|
Net
worth |
29.615 |
32.940 |
35.669 |
|
|
|
|
|
|
long-term borrowings |
21.841 |
42.464 |
52.444 |
|
Short term borrowings |
19.047 |
4.488 |
16.887 |
|
Total
borrowings |
40.888 |
46.952 |
69.331 |
|
Debt/Equity
ratio |
1.381 |
1.425 |
1.944 |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES OF LONG TERM DEBTS
|
Particulars |
31.03.2013 (Rs.
In Millions) |
31.03.2012 (Rs.
In Millions) |
31.03.2011 (Rs.
In Millions) |
|
|
|
|
|
|
Current maturities of Long-term debt |
0.367 |
0.307 |
0.312 |
|
|
|
|
|
|
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 |
No |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact
person |
Yes |
|
11] |
Turnover of firm for last
three years |
No |
|
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 |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
10073240 |
12/09/2007 |
5,000,000.00 |
BANK OF BARODA |
INTERNATIONAL BUSINESS BRANCH, FORESHORE BLDG, GEN BHOSALE MARG, NARIMAN POINT, MUMBAI, MAHARASHTRA - 400021, INDIA |
A25769779 |
|
2 |
10069230 |
14/08/2007 |
1,400,000.00 |
BANK OF BARODA |
INTERNATIONAL BUSINESS BRANCH, FORESHORE BLDG, GEN BHOSALE
MARG, NARIMAN POINT, MUMBAI, MAHARASHT |
A23767106 |
|
3 |
10050711 |
08/08/2013 * |
40,000,000.00 |
BANK OF BARODA |
NARIMAN POINT BRANCH,, FORESHORE BLDG, GEN BHOSALE MARG, NARIMAN POINT, MUMBAI, MAHARASHTRA - 400021, INDIA |
B86103173 |
|
4 |
10050713 |
08/08/2013 * |
40,000,000.00 |
BANK OF BARODA |
NARIMAN POINT BRANCH, FORESHORE BLDG, GEN BHOSALE MARG, NARIMAN POINT, MUMBAI, MAHARASHTRA - 400021, INDIA |
B85516946 |
* Date of charge modification
UNSECURED LOANS
|
PARTICULAR |
31.03.2013 (Rs.
In Millions) |
31.03.2012 (Rs.
In Millions) |
|
LONG TERM
BORROWINGS |
|
|
|
Loans and advances from related parties |
51.952 |
42.328 |
|
Total |
51.952 |
42.328 |
FIXED ASSETS
Tangible Assets
· Air Conditioner
· Laboratory Equipments
· Computer
· Electrical Installation
· Factory Building
· Factory Land at MIDC
· Lease Hold Land
· Fire Extinguisher
· Furniture and Fixture
· Vehicles
· Motor Car
· Motor Cycle
· Delivery Van
· Office Equipment
Intangible Assets
· Software
· Technical Know-How
· Capital WIP
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.60.12 |
|
|
1 |
Rs.102.00 |
|
Euro |
1 |
Rs.81.43 |
INFORMATION DETAILS
|
Information
Gathered by : |
NYA |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
MRI |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
4 |
|
--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 |
|
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 |
|
-- |
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.