MIRA
INFORM REPORT
|
Report Date : |
21.05.2014 |
IDENTIFICATION DETAILS
|
Name : |
IN TRADING PRIVATE LIMITED |
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Registered
Office : |
290, Dhanmill Compound, Chhattarpur
Hills, Mehrauli, New Delhi – 110030 |
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Country : |
India |
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Financials (as
on) : |
31.03.2013 |
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Date of
Incorporation : |
28.02.2003 |
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Com. Reg. No.: |
55-119199 |
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Capital Investment
/ Paid-up Capital : |
Rs.16.000 Millions |
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CIN No.: [Company Identification
No.] |
U51399DL2003PTC119199 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturing, Exporting and Selling of Furniture Articles. |
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No. of Employees
: |
100 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (27) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
USD 550000 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow |
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Litigation : |
Exist |
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Comments : |
Subject is an established company having moderate track record. The rating takes into consideration company’s moderate financial risk
profile and continuous losses that company has incurred from its operational
activities. However, trade relations are fair. Business is active. Payment terms
are slow. The company can be considered for business dealing with some caution. |
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 – March 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
India |
A1 |
A1 |
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Risk Category |
ECGC Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
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.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
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Rating |
Long Term Rating : B- : |
|
Rating Explanation |
Risk prone credit quality and very high credit risk |
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Date |
April 21, 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 (GENERAL INFORMATION)
|
Name : |
Mr. Gurnam |
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Designation : |
Accounts Manager |
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Contact No.: |
91-121-3003000 |
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Date : |
17.05.2014 |
LOCATIONS
|
Registered Office : |
290, Dhanmill Compound, Chhattarpur
Hills, Mehrauli, New Delhi – 110030, India |
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Tel. No.: |
Not Available |
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Fax No.: |
Not Available |
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E-Mail : |
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Factory 1 : |
Plot No.7, Sector 127, Taj Express Way, Noida – 201301, Uttar Pradesh, India |
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Tel. No.: |
91-124-3003000 |
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Fax No.: |
91-124-4665999 |
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Factory 2 : |
163, Sector 4, I.M.T, Manesar, Gurgaon – 122050, Haryana,
India |
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Showroom 1 : |
514, CMH Road, Indiranagar, Bangalore –
560038, Karnataka, India |
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Showroom 2 : |
5F03 and 5F04, Level 1, Ishanya Mall, Pune – 411006, Maharashtra,
India |
DIRECTORS
As on: 28.09.2013
|
Name : |
Mr. Aditya Gupta |
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Designation : |
Managing Director |
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Address : |
192A, Saket University Road, Meerut – 250001, Uttar Pradesh, India |
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Date of Birth/Age : |
03.01.1969 |
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Date of Appointment : |
18.02.2012 |
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DIN No.: |
00177260 |
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Other Directorship :
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Name : |
Mr. Ashish Gupta |
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Designation : |
Whole-Time Director |
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Address : |
192A, Saket University Road, Meerut – 250001, Uttar Pradesh, India |
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Date of Birth/Age : |
21.01.1971 |
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Date of Appointment : |
22.06.2010 |
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DIN No.: |
00175411 |
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Other Directorship :
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KEY EXECUTIVES
|
Name : |
Mr. Gurnam |
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Designation : |
Accounts Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 28.09.2013
|
Names of Shareholders |
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No. of Shares |
|
Vikram Jain |
|
32000 |
|
Aditya Gupta |
|
400000 |
|
Ashish Gupta |
|
400000 |
|
Jitendra Kumar Gupta |
|
768000 |
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Total |
|
1600000 |
Equity Share Break up (Percentage of Total Equity)
As on: 28.09.2013
|
Category |
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Percentage |
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Directors or relatives of directors |
|
50.00 |
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Other top fifty shareholders |
|
50.00 |
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Total
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|
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturing, Exporting and Selling of Furniture Articles. |
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Exports : |
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Products : |
Wooden Furniture |
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Countries : |
·
USA ·
UA ·
Singapore |
GENERAL INFORMATION
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No. of Employees : |
100 (Approximately) |
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Bankers : |
·
ICICI Bank Limited, Meerut,
Utter Pradesh, India. ·
State Bank of India, Commercial Branch, 6th
Floor, Palm Court, Near M.D.I., Gurgaon – 122001, Haryana, India. |
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Facilities : |
(Rs. In Millions)
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
S.S Gupta and Company Chartered Accountants |
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Address : |
239, Asaura House Western Kutchery Road, Meerut – 250001, Utter Pradesh, India |
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Tel. No.: |
91-121-2663564 / 2663565 |
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PAN No.: |
AAHFS7823F |
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Subsidiary Company : |
IN Living Furniture Private Limited CIN No.:
U52333DL2010PTC202800 |
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Sister Concern (As Confirmed by Management) : |
·
Sharda Exports ·
Great Furniture Factory |
CAPITAL STRUCTURE
As on: 28.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1600000 |
Equity Shares |
Rs.10/- each |
Rs.16.000 Millions |
|
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|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1600000 |
Equity Shares |
Rs.10/- each |
Rs.16.000 Millions |
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|
|
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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 |
16.000 |
16.000 |
16.000 |
|
(b) Reserves & Surplus |
120.433 |
148.416 |
168.826 |
|
(c) Money received
against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
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(2)
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Total Shareholders’ Funds (1) + (2) |
136.433 |
164.416 |
184.826 |
|
|
|
|
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(3) Non-Current
Liabilities |
|
|
|
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(a) long-term
borrowings |
0.000 |
129.176 |
143.621 |
|
(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) |
0.000 |
129.176 |
143.621 |
|
|
|
|
|
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(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
257.075 |
25.500 |
2.300 |
|
(b)
Trade payables |
35.973 |
80.976 |
85.706 |
|
(c)
Other current liabilities |
0.000 |
0.000 |
28.752 |
|
(d) Short-term
provisions |
18.729 |
5.432 |
0.000 |
|
Total Current
Liabilities (4) |
311.777 |
111.908 |
116.758 |
|
|
|
|
|
|
TOTAL |
448.210 |
405.500 |
445.205 |
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II.
ASSETS |
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(1) Non-current assets |
|
|
|
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(a)
Fixed Assets |
|
|
|
|
(i) Tangible assets |
124.176 |
133.165 |
144.122 |
|
(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 |
0.100 |
0.100 |
0.100 |
|
(c) Deferred tax
assets (net) |
42.771 |
30.599 |
11.596 |
|
(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 |
167.047 |
163.864 |
155.818 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
211.030 |
201.834 |
232.172 |
|
(c)
Trade receivables |
42.224 |
10.840 |
9.396 |
|
(d) Cash
and cash equivalents |
7.269 |
12.063 |
5.886 |
|
(e) Short-term
loans and advances |
7.179 |
4.138 |
13.618 |
|
(f)
Other current assets |
13.461 |
12.761 |
28.315 |
|
Total
Current Assets |
281.163 |
241.636 |
289.387 |
|
|
|
|
|
|
TOTAL |
448.210 |
405.500 |
445.205 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
|
|
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL |
86.893 |
336.152 |
358.511 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
127.049 (Including
Depreciation) |
363.980 |
432.026 |
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND
AMORTISATION |
|
(27.828) |
(73.515) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
|
(11.584) |
(11.502) |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX |
(40.156) |
(39.412) |
(85.017) |
|
|
|
|
|
|
|
|
|
Less |
TAX |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT /
(LOSS) AFTER TAX |
(40.156) |
(39.412) |
(85.017) |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
149.027 |
168.826 |
253.843 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
108.871 |
149.027 |
168.826 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings (FOB Basis) |
57.520 |
252.667 |
NA |
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Value of Imports on CIF Basis |
0.000 |
0.097 |
NA |
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
(25.10) |
(24.63) |
(53.14) |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
(46.21) |
(11.72) |
(23.71) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(9.91) |
(10.52) |
(19.61) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.29) |
(0.24) |
(0.46) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth)
|
|
1.88 |
0.94 |
0.79 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.90 |
2.16 |
2.48 |
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 |
16.000 |
16.000 |
16.000 |
|
Reserves & Surplus |
168.826 |
148.416 |
120.433 |
|
Net worth |
184.826 |
164.416 |
136.433 |
|
|
|
|
|
|
long-term borrowings |
143.621 |
129.176 |
0.000 |
|
Short term borrowings |
2.300 |
25.500 |
257.075 |
|
Total borrowings |
145.921 |
154.676 |
257.075 |
|
Debt/Equity ratio |
0.790 |
0.941 |
1.884 |
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) |
|
Total Income |
358.511 |
336.152 |
86.893 |
|
|
|
(6.237) |
(74.151) |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Total Income |
358.511 |
336.152 |
86.893 |
|
Profit |
(85.017) |
(39.412) |
(40.156) |
|
|
(23.71%) |
(11.72%) |
(46.21%) |
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 |
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 |
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 |
Yes |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
No |
|
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 |
Yes |
LITIGATION DETAILS
IN THE HIGH COURT OF DELHI AT NEW DELHI
CO.PET. 365/2013
SABOO COATINGS LIMITED.. Petitioner
Through: Mr.Balvir Singh Dosanjh,
Advocate
Versus
IN TRADING PRIVATE LIMITED ..... Respondent
Through: Mr.Anupam Lal Das and Mr.Anirudh
Singh, Advocates
CORAM:
HON'BLE MR. JUSTICE SANJEEV SACHDEVA
ORDER
07.05.2014
Learned counsel for the respondent submits that the reply has been filed. However, the same is not on record.
Let the counsel for the respondent check up with the Registry and have the same
placed on record.
Learned counsel for the petitioner submits that a copy of the reply has been
received and prays for some time to file rejoinder. Let rejoinder be filed
within four weeks.
List for consideration on 9th September, 2014.
SANJEEV SACHDEVA, J
MAY 07, 2014/sv
$ 27
UNSECURED LOAN
(Rs. In Millions)
|
|
As on 31.03.2013 |
As on 31.03.2012 |
|
Short Term
Borrowings |
|
|
|
Repayable on demand from Director |
|
|
|
-Ashish Gupta |
128.538 |
12.500 |
|
-Aditya Gupta |
128.537 |
12.000 |
|
|
|
|
|
Total |
257.075 |
24.500 |
NOTES:
·
The Registered Office of the company has been
shifted from 225, Okhla Industrial Estate Phase – 3,
New Delhi – 110020, India to the present address (as confirmed by the
management).
· No Charges Exist for Company
FIXED ASSETS
·
Land and Building
·
Plant and Machinery
·
Office Equipments
·
Motor Car and Two
Wheelers
·
Computer and Software
·
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.58.43 |
|
|
1 |
Rs.98.28 |
|
Euro |
1 |
Rs.80.12 |
INFORMATION DETAILS
|
Information Gathered
by : |
PRT |
|
|
|
|
Analysis Done by
: |
KRN |
|
|
|
|
Report Prepared
by : |
VNK |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
- |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--LITIGATION |
YES/NO |
YES |
|
--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 |
|
27 |
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.