MIRA
INFORM REPORT
|
Report Date : |
07.03.2014 |
IDENTIFICATION DETAILS
|
Name : |
MONOPOL COLORS INDIA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
5, Hare Krishna Society, Nahur Road, Mulund West
Mumbai-400080, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
03.06.2009 |
|
|
|
|
Com. Reg. No.: |
11-192981 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs. 1.114 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24100MH2009PTC192981 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer and Exporter of solvent based paints, primers of
different colors and spraying paints for coating on steel and aluminium coils
|
|
|
|
|
No. of Employees
: |
Information denied by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca (15) |
|
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 : |
Slow |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having moderate track record. The company possesses a weak financial profile, marked by negative net
worth. However, the management has reported a minimal profitability due to
which a part of the accumulated losses have been wiped off which has further
slightly helped in easing the pressure on liquidity during 2013. Business is
active. Payment terms are reported as slow. In view of benefits from the support that it receives from its
promoters, 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.
INDIAN ECONOMIC OVERVIEW
India’s private
sector output contracted for the seventh consecutive month in January as
services sector output remained weak amid tough economic conditions. The HSBC
India Composite Output Index which maps both services and manufacturing, stood
at 49.6 in January, up from 48.1 in December but below the crucial 50 mark for
the seventh consecutive month. This is poll season and uncertainty over pending
bills continues. Finance Minister P Chidambaram summed up the situation when he
expressed doubts whether any key legislation, except for the vote-on-account,
will be passed on the current session of Parliament.
Middle-and-senior-level
managers of India Inc are quite optimistic about the economic situation in
2014, says the latest survey by hiring agency Randstad India. The quarterly
review tracks trends across 32 countries including India which has the highest
mobility index of 146. The figure is the lowest as far as India is
concerned since the survey was conducted in the first quarter of 2010 and is
down by eight points from the previous quarter (154), Malaysia, Mexico and Hong
Kong follow India while the mobility is the least in Luxembourg, Germany and
Belgium indicating least employee churn.
$ 1.25 bn Foreign
direct investment in the pharmaceutical sector during the April-November period
of this financial year, compared with $ 581 million a year earlier. $97 bn, the
amount of excess cash tied up in the working capital processes by leading
Indian firms, although there has been a marginal improvement in the performance
last year, says a recent EY report. $2.5 bn, estimated capital expenditure by
Facebook which celebrated its 10th anniversary in 2014. Its capex
was $ 1.37 billion in 2013. Foreign institutions and non-resident Indians
can now invest in the insurance sector, within the 26 % cap on foreign direct
investment in the sector. The Department of Industrial Policy and Promotion
said this relaxation will apply to insurance companies, insurance brokers,
third-party administrators, surveyors and loss assessors.
In a boost to the tourism
sector, India will extend the visa-on-arrival facility to all countries except
eight, including Pakistan from September. India’s total foreign tourism
arrivals stood at 6.84 million in 2013. Forex earnings from tourism grew 2.2 %
year-on-year to $ 18.1 billion.
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. Ravindra |
|
Designation : |
Accounts Department |
|
Contact No.: |
91-22-27698242 |
|
Date : |
06.03.2014 |
LOCATIONS
|
Registered Office : |
5, Hare Krishna Society, Nahur Road, Mulund West
Mumbai-400080, Maharashtra, India |
|
Tel. No.: |
91-22-27698242 |
|
Fax No.: |
Not Available |
|
E-Mail : |
DIRECTORS
AS ON 30.09.2013
|
Name : |
Mr. Prashantkumar Dineshbhai Patel |
|
Designation : |
Director |
|
Address : |
12, Hare Krishna Society, Nahur Road, Mulund (West), Mumbai-400080,
Maharashtra, India |
|
Date of Birth/Age : |
19.12.1973 |
|
Date of Appointment : |
03.06.2009 |
|
DIN No.: |
0251184 |
|
|
|
|
Name : |
Mr. Dhavalkumar Amrutbhai Patel |
|
Designation : |
Director |
|
Address : |
305, 3rd Floor, Laxmi Nivas Road No.28, Shantinagar Wagle Estate,
Thane (West), Thane-400604, Maharashtra, India |
|
Date of Birth/Age : |
06.06.1974 |
|
Date of Appointment : |
03.06.2009 |
|
DIN No.: |
02527310 |
|
|
|
|
Name : |
Lionel Thierry Manfred Schlessinger |
|
Designation : |
Director |
|
Address : |
Brunnmattstrasse 2, Baden 5400, Switzerland |
|
Date of Birth/Age : |
16.06.1965 |
|
Date of Appointment : |
03.06.2009 |
|
DIN No.: |
02541798 |
KEY EXECUTIVES
|
Name : |
Mr. Ravindra |
|
Designation : |
Accounts Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2013
|
Name
of Shareholders |
No.
of Shares |
%age |
|
|
272,641 |
30.29 |
|
|
447,072 |
49.66 |
|
Dhavalkumar Amrutbhai Patel |
169,115 |
18.79 |
|
Monopol AG, Switzerland |
11,409 |
1.27 |
|
Total |
900,237 |
100.00 |
_MIRA%2007-Mar-2014_files/image002.gif){kind=small}
_MIRA%2007-Mar-2014_files/image004.gif){kind=small}
_MIRA%2007-Mar-2014_files/image006.gif)
AS ON 30.09.2013
|
Equity Shares
Break Up |
Percentage of
Holding |
|
Foreign holdings( Foreign institutional investor(s), Foreign companie(s)
Foreign financial institution(s), Non-resident Indian(s) or Overseas
Corporate bodies or Others |
1.27 |
|
Directors or relatives of Directors |
98.73 |
|
TOTAL |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of solvent based paints, primers of
different colors and spraying paints for coating on steel and aluminium coils |
GENERAL INFORMATION
|
No. of Employees : |
Information denied by the management |
|
|
|
|
Bankers : |
Bank of Baroda |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Mandar K Patil and Company Chartered Accountant |
|
Address : |
221/222, Swastik Plaza, Pokhran Road No.2, Thane-400601, Maharashtra,
India |
|
Tel. No.: |
91-22-21731574 |
|
PAN No.: |
AAMPP2080K |
|
|
|
|
Related Parties : |
Monopol AG |
CAPITAL STRUCTURE
AS ON 30.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2500000 |
Equity Shares |
Rs.10/- each |
Rs. 25.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
900237 |
Equity Shares |
Rs.10/- each |
Rs. 9.002
Millions |
|
|
|
|
|
AS ON 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
200000 |
Equity Shares |
Rs.10/- each |
Rs. 2.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
111409 |
Equity Shares |
Rs.10/- each |
Rs. 1.114
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 |
1.114 |
1.000 |
1.000 |
|
(b) Reserves & Surplus |
(4.921) |
(10.858) |
(18.615) |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
0.000 |
0.200 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
(3.807) |
(9.658) |
(17.615) |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
38.184 |
30.766 |
33.950 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.113 |
0.100 |
|
(c) Other long term liabilities |
1.544 |
0.778 |
0.745 |
|
(d) long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current Liabilities (3) |
39.728 |
31.657 |
34.795 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade payables |
47.502 |
40.490 |
27.419 |
|
(c) Other current
liabilities |
6.409 |
3.935 |
3.782 |
|
(d) Short-term provisions |
3.143 |
1.242 |
0.780 |
|
Total Current Liabilities (4) |
57.054 |
45.667 |
31.981 |
|
|
|
|
|
|
TOTAL |
92.975 |
67.666 |
49.161 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
9.336 |
10.923 |
9.489 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
2.760 |
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) |
0.167 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
0.268 |
0.015 |
0.004 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
12.531 |
10.938 |
9.493 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
22.295 |
18.117 |
17.256 |
|
(c) Trade receivables |
49.327 |
34.243 |
18.572 |
|
(d) Cash and cash
equivalents |
5.218 |
0.164 |
0.689 |
|
(e) Short-term loans and
advances |
3.430 |
4.124 |
3.088 |
|
(f) Other current assets |
0.174 |
0.080 |
0.063 |
|
Total Current Assets |
80.444 |
56.728 |
39.668 |
|
|
|
|
|
|
TOTAL |
92.975 |
67.666 |
49.161 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
194.909 |
87.512 |
39.543 |
|
|
|
Other Income |
0.839 |
0.396 |
0.055 |
|
|
|
TOTAL (A) |
195.748 |
87.908 |
39.598 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Material Consumed |
|
|
|
|
|
|
Purchase of Stock In Trade |
|
|
|
|
|
|
Other Expenses |
|
|
|
|
|
|
TOTAL (B) |
187.744 |
93.368 |
48.187 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
8.004 |
(5.460) |
(8.589) |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
0.112 |
0.057 |
0.055 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
7.892 |
(5.517) |
(8.644) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/ AMORTISATION (F) |
2.150 |
2.367 |
1.940 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
5.742 |
(7.884) |
(10.584) |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
(0.109) |
0.012 |
(0.075) |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
5.851 |
(7.896) |
(10.509) |
|
|
|
|
|
|
|
|
|
|
EXPORT VALUE |
39.731 |
18.331 |
-- |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
52.52 |
-- |
-- |
|
_MIRA%2007-Mar-2014_files/image007.gif){kind=small}
_MIRA%2007-Mar-2014_files/image008.gif){kind=small}
_MIRA%2007-Mar-2014_files/image009.gif){kind=small}
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
2.99
|
(8.98) |
(26.54) |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
2.95
|
(9.01) |
(26.77) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
6.38
|
(11.65) |
(21.53) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(1.51)
|
0.82 |
0.60 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
(10.03)
|
(3.19) |
(1.93) |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.41
|
1.24 |
1.24 |
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 |
1.000 |
1.000 |
1.114 |
|
Reserves & Surplus |
-18.615 |
-10.858 |
-4.921 |
|
Net
worth |
-17.615 |
-9.858 |
-3.807 |
|
|
|
|
|
|
long-term borrowings |
33.950 |
30.766 |
38.184 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Total
borrowings |
33.950 |
30.766 |
38.184 |
|
Debt/Equity
ratio |
-1.927 |
-3.121 |
-10.030 |
_MIRA%2007-Mar-2014_files/image011.gif)
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) |
|
Sales |
39.543 |
87.512 |
194.909 |
|
|
|
121.308 |
122.723 |
_MIRA%2007-Mar-2014_files/image013.gif)
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(INR
in Mlns) |
(INR
in Mlns) |
(INR
in Mlns) |
|
Sales |
39.543 |
87.512 |
194.909 |
|
Profit |
0.055 |
0.396 |
0.839 |
|
|
0.14% |
0.45% |
0.43% |
_MIRA%2007-Mar-2014_files/image015.gif)
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 |
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 |
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 |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
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 |
CURRENT MATURITIES
OF LONG TERM DEBT – NOT AVAILABLE
FACILITIES
|
Unsecured Loan |
Rs.
In Millions 31.03.2013 |
Rs.
In Millions 31.03.2012 |
|
Long Term
Borrowings |
|
|
|
Bonds /
Debentures / FCCB |
|
|
|
2078298 Fully Convertible Debentures of Rs. 10 Each Fully Paid Up |
20.783 |
20.783 |
|
Fully Convertible Debenture Application Money |
7.303 |
0.000 |
|
Loans from Directors |
10.098 |
9.983 |
|
|
|
|
|
TOTAL |
38.184 |
30.766 |
INDEX OF CHARGES -
No Charges Exist for Company
FIXED ASSETS
·
Factory Building
·
Plant and Machinery
·
Lab Equipments
·
Tools and Instruments
·
Computer
·
Electrical Installation
·
Vehicle
·
Other Equipments
·
Air Conditioner
·
Furniture and Fixture
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. 61.32 |
|
|
1 |
Rs. 102.54 |
|
Euro |
1 |
Rs. 84.18 |
INFORMATION DETAILS
|
Information
Gathered by : |
PDT |
|
|
|
|
Report Prepared
by : |
DPT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
1 |
|
OPERATING SCALE |
1~10 |
2 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
2 |
|
--PROFITABILIRY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
1 |
|
--LEVERAGE |
1~10 |
2 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
15 |
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.