MIRA INFORM REPORT
|
Report Date : |
18.03.2014 |
IDENTIFICATION DETAILS
|
Name : |
PERFECT INDUSTRIES PRIVATE LIMITED |
|
|
|
|
Registered Office
: |
9th Floor, H 4 and
5, Tardeo Everest Co-operative Society Limited, Tardeo, Mumbai –
400034, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
18.02.2011 |
|
|
|
|
Com. Reg. No.: |
11-213748 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.94.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U15122MH2011PTC213748 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Soyalecithin Powder, De-oiled Lecithin, Soy Lecithin. |
|
|
|
|
No. of Employees
: |
120 (Approximately) |
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 1100000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject was established as partnership concern during the year 2006
with the name of “PERFECT BIOTECH”. Later it got converted in to private
limited company on 18th Feb 2011 with the name of “PERFECT INDUSTRIES PRIVATE
LIMITED”. Mr. Brij Kishor Maniar, Director has provided latest financial
statement for the year 2012 and 13. As per available financial statement,
General financial position of the company seems to be fair. Trade relations are fair. Business is active. Payment terms are slow
but correct. The company can be considered for business dealings at usual trade
terms and condition. |
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 – December 1, 2013
|
Country Name |
Previous Rating (30.09.2013) |
Current Rating (01.12.2013) |
|
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
State-run banks hired nearly
300000 personnel including more than 94000 officers in the last four years, according
to the Indian Banks Association. A study by trade lobby Assocham in September
2013 indicated that banks would need 800000 people in the next six years. It
estimated that state-run lenders alone would hire 50000 people in 2013/14.
The Competition Commission of
India plans to issue final orders within a broad time-frame of one year in
matters where it decides to carry out detailed investigations. The number of
complaints received by the watchdog which keeps tabs on unfair trade practices
in the marketplace.
The government has detected
custom tax evasion totaling around Rs 37920 mn in 14 states until December.
Maharashtra topped the list of Rs 14190 mn followed by Andhra Pradesh at Rs
8140 mn, Gujarat Rs 5240 mn, Karnataka Rs 1670 mn and Tamilnadu Rs 1610 mn.
Connaught Place in New Delhi
slipped four notches to become the world’s eighth most expensive office
locations. London’s West End is the world’s most expensive office market.
There are 4.072 mn number of high
value spenders under the scanner of the income tax department. The income tax
department has information that they have made cash deposits announcing to Rs 1
mn or more in their savings bank accounts in the current financial year. It
plans to check potential evasion before the closing of the financial year on
March 31.
Estimated pharmaceutical sales
in the country for 2016 is $ 27 bn. It is 14.4 per cent higher than a year ago.
The life sciences and health care industry is up against challenges such as
quality management, says a recent Deloitte report.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long term rating: BBB- |
|
Rating Explanation |
Moderate degree of safety and moderate credit risk. |
|
Date |
28.02.2014 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short term rating: A3 |
|
Rating Explanation |
Moderate degree of safety and higher credit risk. |
|
Date |
28.02.2014 |
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. Brij Kishor Maniar |
|
Designation : |
Director |
|
Contact No.: |
91-9850325985 |
|
Date : |
13.03.2014 |
LOCATIONS
|
Registered Office : |
9th Floor, H 4 and
5, Tardeo Everest Co-operative Society Limited, Tardeo, Mumbai – 400034,
Maharashtra |
|
Tel. No.: |
Not Available |
|
Mobile No.: |
91-9850325985 (Mr. Brij Kishor Maniar) |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Location : |
Owned |
|
|
|
|
Factory : |
K-34, Five Star Industrial area, Behind Johnson Lift Butibori, |
|
Tel. No.: |
91-7104-265345/346 |
|
E-Mail : |
|
|
Area : |
124000 Sq ft |
|
Location : |
Owned |
|
|
|
|
Branches : |
222, |
|
Tel. No.: |
91-712-2567244 |
DIRECTORS
|
Name : |
Mr. Sunil Shivchandra Mundada |
|
Designation : |
Director |
|
Address : |
Saket Dudhasagar Marg, Chalisgaon – 424101, Maharashtra, India |
|
Date of Birth/Age : |
15.08.1962 |
|
Date of Appointment : |
19.02.2011 |
|
DIN No.: |
01049952 |
|
PAN No.: |
AAQPM6327A |
|
|
|
|
Name : |
Mr. Raj Kishor Maniar |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. Brij Kishor Maniar |
|
Designation : |
Director |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
MAJOR SHAREHOLDING DETAILS ARE NOT AVAILABLE
As on 28.01.2013
|
Names of Allottess |
|
No. of Shares |
|
Brij Kishor Maniar |
|
3200000 |
|
Total |
|
3200000 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Soyalecithin Powder, De-oiled Lecithin, Soy Lecithin. |
|
|
|
|
Exports : |
|
|
Products : |
Furnished Goods |
|
Countries : |
|
|
|
|
|
Terms : |
|
|
Selling : |
L/C, Cash and Credit |
|
|
|
|
Purchasing : |
Cash and Credit |
GENERAL INFORMATION
|
Suppliers : |
Ruchi Soya Limited |
||||||||||||||||||
|
|
|
||||||||||||||||||
|
Customers : |
Nova Steel, France |
||||||||||||||||||
|
|
|
||||||||||||||||||
|
No. of Employees : |
120 (Approximately) |
||||||||||||||||||
|
|
|
||||||||||||||||||
|
Bankers : |
State Bank of India, Industrial Finance Branch, 5, Sai
Complex, Amravati Road, Bharat Nagar,, Nagpur - 440033, Maharashtra, India |
||||||||||||||||||
|
|
|
||||||||||||||||||
|
Facilities : |
Fund and Non – Fund: Rs. 750.000 Millions (from State Bank of India)
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Praveen Kumar Mittal and Company Chartered Accountants |
|
Address : |
36, Karim Layout, Gopal Nagar, Nagpur - 440022, Maharashtra, India |
|
PAN N Income-tax PAN of auditor or auditor's firm : |
ABHPM5417B |
|
|
|
|
Other related party (As on 31.03.2012) : |
Perfect Vitamins Private Limited |
CAPITAL STRUCTURE
As on 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
9500000 |
Equity Shares |
Rs.10/- each |
Rs. 95.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
9400000 |
Equity Shares |
Rs.10/- each |
Rs. 94.000
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 |
94.000 |
67.000 |
50.000 |
|
(b) Reserves & Surplus |
171.688 |
114.847 |
78.113 |
|
(c) Money received against
share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
265.688 |
181.847 |
128.113 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
360.331 |
304.467 |
196.221 |
|
(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) |
360.331 |
304.467 |
196.221 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
332.109 |
265.616 |
125.351 |
|
(b) Trade payables |
31.331 |
75.209 |
22.215 |
|
(c) Other current liabilities |
75.085 |
82.099 |
19.925 |
|
(d) Short-term provisions |
0.000 |
0.000 |
0.000 |
|
Total
Current Liabilities (4) |
438.525 |
422.924 |
167.491 |
|
|
|
|
|
|
TOTAL |
1064.544 |
909.238 |
491.825 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
326.882 |
359.259 |
258.530 |
|
(ii) Intangible Assets |
0.989 |
1.649 |
2.031 |
|
(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 |
7.123 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
37.572 |
1.192 |
0.000 |
|
(e) Other Non-current assets |
2.437 |
3.656 |
4.875 |
|
Total
Non-Current Assets |
367.880 |
372.879 |
265.436 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
421.629 |
364.271 |
86.921 |
|
(c) Trade receivables |
161.127 |
81.779 |
92.703 |
|
(d) Cash and cash equivalents |
14.840 |
8.214 |
7.737 |
|
(e) Short-term loans and
advances |
17.990 |
4.624 |
0.875 |
|
(f) Other current assets |
81.078 |
77.471 |
38.153 |
|
Total
Current Assets |
696.664 |
536.359 |
226.389 |
|
|
|
|
|
|
TOTAL |
1064.544 |
909.238 |
491.825 |
PROFIT & LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
1152.425 |
848.428 |
50.458 |
|
|
|
Other Income |
5.093 |
14.021 |
0.678 |
|
|
|
TOTAL (A) |
1157.518 |
862.449 |
51.136 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of material consumed |
836.725 |
731.597 |
18.563 |
|
|
|
Purchase of stock in trade |
(9.053) |
(249.702) |
5.914 |
|
|
|
Changes in inventories |
10.406 |
23.499 |
1.885 |
|
|
|
Other Expenses |
161.507 |
212.606 |
12.503 |
|
|
|
TOTAL (B) |
999.585 |
718.000 |
38.865 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
157.933 |
144.449 |
12.271 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
63.236 |
58.803 |
4.971 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
94.697 |
85.646 |
7.300 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
84.020 |
81.765 |
3.687 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
10.677 |
3.881 |
3.613 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
1.836 |
0.648 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
8.841 |
3.233 |
3.613 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
0.94 |
NA |
NA |
|
Expected Sales (2013-2014) : Rs.1350.000 Millions
The above information has been parted by Mr. Brij Kishor Maniar
(Director)
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
0.76
|
0.37 |
7.07 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
0.93
|
0.46 |
7.16 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.01
|
0.43 |
0.73 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.04
|
0.02 |
0.03 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
2.61
|
3.13 |
2.51 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.59
|
1.27 |
1.35 |
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 |
50.000 |
67.000 |
94.000 |
|
Reserves & Surplus |
78.113 |
114.847 |
171.688 |
|
Net
worth |
128.113 |
181.847 |
265.688 |
|
|
|
|
|
|
long-term borrowings |
196.221 |
304.467 |
360.331 |
|
Short term borrowings |
125.351 |
265.616 |
332.109 |
|
Total
borrowings |
321.572 |
570.083 |
692.440 |
|
Debt/Equity
ratio |
2.510 |
3.135 |
2.606 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
50.458 |
848.428 |
1152.425 |
|
|
|
1,581.454 |
35.831 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
50.458 |
848.428 |
1152.425 |
|
Profit |
3.613 |
3.233 |
8.841 |
|
|
7.16% |
0.38% |
0.77% |
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
three years |
Yes |
|
12] |
Profitability for last
three years |
Yes |
|
13] |
Reasons for variation
<> 20% |
-- |
|
14] |
Estimation for coming
financial year |
Yes |
|
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 |
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 |
Yes |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
Note: Registered office of the company has been shifted from 6, Jain House, 41/43, Police Court Lane, D. N. Road, Fort, Mumbai – 400001, Maharashtra, India to the present address w.e.f 20.01.2014
INDEX
OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
10472214 |
26/11/2013 |
816,100,000.00 |
STATE BANK OF INDIA |
INDUSTRIAL
FINANCE BRANCH, 5, SAI COMPLEX, AMRAVATI ROAD, BHARAT NAGAR, NAGPUR,
MAHARASHTRA - 440033, INDIA |
B94259843 |
|
2 |
10287402 |
13/02/2013 * |
677,500,000.00 |
STATE BANK OF INDIA |
INDUSTRIAL
FINANCE BRANCH, 5, SAI COMPLEX, AMRAVATI ROAD, BHARAT NAGAR, NAGPUR,
MAHARASHTRA - 440033, INDIA |
B70277595 |
* Date of charge modification
FIXED ASSETS
Tangible assets
- Land
- Buildings
- Plant and equipment
- Furniture and fixtures
- Vehicles
- Office equipment
- Computer equipments
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.61.52 |
|
|
1 |
Rs.102.22 |
|
Euro |
1 |
Rs.85.23 |
INFORMATION DETAILS
|
Information
Gathered by : |
HNA |
|
|
|
|
Report Prepared
by : |
KVT |
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 |
4 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
5 |
|
--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 |
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 |
|
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.