MIRA
INFORM REPORT
|
Report Date : |
27.03.2014 |
IDENTIFICATION DETAILS
|
Name : |
PMA HANDWEAVES PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
I/H-15/4, Pubali, Ashwininagar, Baguihati, Kolkata – 700059, West
Bengal |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
29.03.1996 |
|
|
|
|
Com. Reg. No.: |
21-078972 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 1.553 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U18109WB1996PTC078972 |
|
|
|
|
TAN No.: [Tax Deduction & Collection
Account No.] |
CALP03952E |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACN9718P |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Importer, Exporter, Stockist and Dealers of and in all kinds of consumer
durable and non-durables and intermediate product of any kind, particularly
in woven stoles, scarves, all types of handicrafts, household linen, ready
wears made from cotton, jute, wool, leather or metal, etc. |
|
|
|
|
No. of Employees
: |
Not Available |
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 |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track record. There is a dip in profit of the company in the year 2013. However,
liquidity position seems to be strong. Trade relations are reported to be fair. Business is active. Payments
are reported to be slow but correct. The company can be considered normal for business dealing 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.
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.
The gross non-performing assets
of listed banks rose 35.2 % to Rs 2.43 lakh crore during the first three months
of the financial year. In absolute terms, the 40 listed banks added Rs 3386
crore to their gross NPAs in nine months with the State Bank of India leading
with the State Bank of India leading with an accretion of Rs 16610 crore.
The inflow of smuggled gold
doubled in 2013 following restrictions to curb the supply from official
channels to contain the current account deficit. China surpassed India in the
demand for gold for the first time in 2013 due to liberalization of gold
trading norms by its local governments.
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.
LOCATIONS
|
Registered Office : |
I/H-15/4, Pubali, Ashwininagar, Baguihati, Kolkata – 700059, West
Bengal, India |
|
Tel. No.: |
91-33-23585853 |
|
Fax No.: |
91-33-23592123 |
|
E-Mail : |
DIRECTORS
As on 30.09.2013
|
Name : |
Mr. Subimal Bera |
|
Designation : |
Managing director |
|
Address : |
I/H-15/4, Pubali, Ashwininagar, Baguihati, Kolkata – 700059, West
Bengal, India |
|
Date of Birth/Age : |
21.11.1955 |
|
Date of Appointment : |
01.04.2002 |
|
DIN No.: |
00597844 |
|
Voter ID No.: |
GGC3135373 |
|
|
|
|
Name : |
Mr. Ranjita Bera |
|
Designation : |
Director |
|
Address : |
I/H-15/4, Pubali, Ashwininagar, Baguihati, Kolkata – 700059, West
Bengal, India |
|
Date of Birth/Age : |
09.06.1953 |
|
Date of Appointment : |
14.02.2002 |
|
DIN No.: |
00597893 |
|
Voter ID No.: |
WB/22/091/825201 |
|
|
|
|
Name : |
Mr. Subinita Bera |
|
Designation : |
Director |
|
Address : |
I/H-15/4, Pubali, Ashwininagar, Baguihati, Kolkata – 700059, West
Bengal, India |
|
Date of Birth/Age : |
25.09.1984 |
|
Date of Appointment : |
01.02.2006 |
|
DIN No.: |
00597870 |
|
Voter ID No.: |
GGC3733334 |
|
|
|
|
Name : |
Mr. Subid Bera |
|
Designation : |
Director |
|
Address : |
I/H-15/4, Pubali, Ashwininagar, Baguihati, Kolkata – 700059, West
Bengal, India |
|
Date of Birth/Age : |
29.11.1988 |
|
Date of Appointment : |
06.01.2010 |
|
DIN No.: |
03094639 |
|
Voter ID No.: |
IHM0357871 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2013
|
Names of Shareholders |
|
No. of Shares |
|
Ranjita Bera |
|
48210 |
|
Pooja Mehera |
|
10100 |
|
Subinita Bera |
|
17000 |
|
Subinita Bera |
|
69000 |
|
Baidyanath Sinha Roy |
|
1000 |
|
Subid Bera |
|
10000 |
|
Total |
|
155310 |
As on 30.09.2013
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Directors or relatives of Directors |
92.86 |
|
Other top fifty shareholders |
7.14 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Importer, Exporter, Stockist and Dealers of and in all kinds of
consumer durable and non-durables and intermediate product of any kind, particularly
in woven stoles, scarves, all types of handicrafts, household linen, ready
wears made from cotton, jute, wool, leather or metal, etc. |
||||||
|
|
|
||||||
|
Products : |
|
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Bankers : |
· Bank of India, Rash Behari Avenue Branch, 161/3, Rash Behari Avenue, Kolkata - 700019, West Bengal, India · HDFC Bank Limited ·
ICICI Bank Limited |
|||||||||||||||||||||||||||
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|
|||||||||||||||||||||||||||
|
Facilities : |
(Rs.
In Millions)
|
|
|
|
|
Banking
Relations : |
--- |
|
|
|
|
Auditors : |
|
|
Name : |
A. K. Panda and Company Chartered Accountants |
|
Address : |
8/2, K.S. Roy Road, 3rd Floor, Room No. 3, Kolkata – 70001,
West Bengal, India |
|
Tel. No.: |
91-33-2248-2606 |
|
PAN No.: |
AEJPP0371A |
|
|
|
|
Associates : |
PMA Aquacare Private Limited |
CAPITAL STRUCTURE
As on 30.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
300000 |
Equity Shares |
Rs.10/- each |
Rs.3.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
155310 |
Equity Shares |
Rs.10/- each |
Rs.1.553 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 |
1.553 |
1.553 |
1.553 |
|
(b) Reserves & Surplus |
42.834 |
39.702 |
34.522 |
|
(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) |
44.387 |
41.255 |
36.075 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
3.667 |
4.564 |
7.466 |
|
(b) Deferred tax liabilities (Net) |
0.156 |
0.156 |
0.172 |
|
(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) |
3.823 |
4.720 |
7.638 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
7.500 |
2.990 |
2.990 |
|
(b) Trade payables |
10.210 |
9.195 |
8.636 |
|
(c) Other current
liabilities |
3.545 |
4.037 |
6.314 |
|
(d) Short-term provisions |
15.739 |
14.338 |
12.005 |
|
Total Current Liabilities (4) |
36.994 |
30.560 |
29.945 |
|
|
|
|
|
|
TOTAL |
85.204 |
76.535 |
73.658 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
14.114 |
14.101 |
15.561 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
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 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
8.458 |
17.634 |
13.300 |
|
(e) Other Non-current assets |
0.050 |
0.064 |
0.071 |
|
Total Non-Current Assets |
22.622 |
31.799 |
28.932 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
2.411 |
2.695 |
1.444 |
|
(c) Trade receivables |
25.608 |
15.392 |
11.512 |
|
(d) Cash and cash
equivalents |
15.758 |
26.649 |
31.770 |
|
(e) Short-term loans and
advances |
18.805 |
0.000 |
0.000 |
|
(f) Other current assets |
0.000 |
0.000 |
0.000 |
|
Total Current Assets |
62.582 |
44.736 |
44.726 |
|
|
|
|
|
|
TOTAL |
85.204 |
76.535 |
73.658 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
|
|
|
70.892 |
|
|
|
Domestic Sales |
|
|
13.485 |
|
|
|
Other Income |
|
|
2.768 |
|
|
|
TOTAL (A) |
|
|
87.145 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Sales |
|
|
63.296 |
|
|
|
Administrative and Others Expenses |
|
|
11.286 |
|
|
|
Selling and Distribution Expenses |
|
|
0.664 |
|
|
|
TOTAL (B) |
|
|
75.246 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
NA |
NA |
11.899 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
|
|
1.170 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
|
|
10.729 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
|
|
1.983 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
|
|
8.746 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
|
|
3.171 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
3.132 |
5.180 |
5.575 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
39.701 |
34.521 |
28.946 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
42.833 |
39.701 |
34.521 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
63.208 |
69.279 |
70.892 |
|
|
TOTAL EARNINGS |
63.208 |
69.279 |
70.892 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
20.16 |
33.35 |
35.89 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
NA
|
NA |
6.40 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
NA
|
NA |
10.37 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
NA
|
NA |
11.87 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
NA
|
NA |
0.24 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.25 |
0.18 |
0.29 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.69 |
1.46 |
1.49 |
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 |
1.553 |
1.553 |
1.553 |
|
Reserves & Surplus |
34.522 |
39.702 |
42.834 |
|
Net
worth |
36.075 |
41.255 |
44.387 |
|
|
|
|
|
|
long-term borrowings |
7.466 |
4.564 |
3.667 |
|
Short term borrowings |
2.990 |
2.990 |
7.500 |
|
Total
borrowings |
10.456 |
7.554 |
11.167 |
|
Debt/Equity
ratio |
0.290 |
0.183 |
0.252 |
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 |
No |
|
10] |
Designation of contact person |
No |
|
11] |
Turnover of firm for last one year |
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) |
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 |
Yes |
|
34] |
External Agency Rating, if available |
No |
Note:
The registered office of the company has been shifted from
171/1A, Rashbehari Avenuep S Gariahat, Kolkata – 700019, West Bengal, India to present
address w.e.f. 20.06.2007
UNSECURED LOAN
Rs.
In Millions
|
Particular |
As
on 31.03.2013 |
As
on 31.03.2012 |
|
Long Term
Borrowings |
|
|
|
Mahanti Engineers Private Limited |
2.807 |
2.806 |
|
Keleenworth Marketing Private Limited |
0.671 |
0.671 |
|
Total |
3.478 |
3.477 |
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10042836 |
07/03/2013 * |
49,500,000.00 |
BANK OF INDIA |
RASH BEHARI AVENUE BRANCH, 161/3, RASH BEHARI AVENUE, KOLKATA, WEST BENGAL - 700019, INDIA |
B72965288 |
* Date of charge modification
FIXED ASSETS
· Honda City
· Computer
· Motor Byke
· Tata Ace
· Air-conditioning Machine
· Digital Camera
· Furniture and Fixture
· Land
· Factory Building
· Plant and Machinery
· Tools and Equipment
· Mobile Phone
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.60.17 |
|
|
1 |
Rs.99.39 |
|
Euro |
1 |
Rs.83.09 |
INFORMATION DETAILS
|
Report Prepared
by : |
NTH |
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 |
4 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--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 |
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 |
|
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.