MIRA
INFORM REPORT
|
Report No. : |
315733 |
|
Report Date : |
03.04.2015 |
IDENTIFICATION DETAILS
|
Name : |
WEG INDUSTRIES ( |
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Registered
Office : |
No. 38, Ground Floor, 1st Main Road, Lower Palace, Orchards,
Bangalore – 560 003, Karnataka |
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Country : |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
10.04.2008 |
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Com. Reg. No.: |
08-046020 |
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Capital
Investment / Paid-up Capital : |
Rs.15.500 Million |
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CIN No.: [Company Identification
No.] |
U31909KA2008PTC046020 |
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|
TAN No.: [Tax
Deduction & Collection Account No.] |
BLRW00832G |
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PAN No.: [Permanent
Account No.] |
AAACW7745D |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
The Company is in the business of Manufacture, Export, Import of Rotating Electrical Machinery, Mechanical Machinery and related devices. |
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No. of Employees
: |
450 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (47) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 8992000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having satisfactory track. The rating takes into consideration sound profit margin and good
liquidity position of the company. Trade relations reported to be fair. Business is active. Payments are
reported to be usually correct. The company can be considered for business dealing at usual trade
terms and conditions. |
ECGC Country Risk Classification List – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
|
Off-credit |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
Not Available |
|
Rating |
Not Available |
|
Rating Explanation |
Not Available |
|
Date |
Not Available |
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
31-03-2014.
INFORMATION PARTED BY (GENERAL DETAILS)
|
Name : |
Mr. Anthony |
|
Designation : |
Senior Finance Analyst |
|
Contact No.: |
91-4344-301511 |
|
Date : |
02.04.2015 |
LOCATIONS
|
Registered Office : |
No. 38, Ground Floor, 1st Main Road, Lower Palace,
Orchards, Bangalore – 560003, Karnataka, India |
|
Tel. No.: |
91-80-41282007/41282006/41282005 |
|
Fax No.: |
91-80-23367624 |
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E-Mail : |
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Website : |
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Head Office / Factory: |
Plot No. E-20, Moranapalli Village, SIPCOT Phase II, Expansion II,
Hosur – 635109, Tamilnadu, India |
|
Tel No.: |
91-4344-301577 |
DIRECTORS
AS ON 30.09.2014
|
Name : |
Mr. Satyajit Chattopadhyay |
|
Designation : |
Director |
|
Address : |
No. 62/2-1, Embassy Heritage Flat – 183, 8th Main,
Malleswaram, Bangalore – 560003, Karnataka, India |
|
Date of Birth/Age : |
11.10.1946 |
|
Date of Appointment : |
30.01.2015 |
|
DIN No.: |
00057458 |
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|
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|
Name : |
Mr. Sergio Luiz Silva Schwartz |
|
Designation : |
Director |
|
Address : |
Rua Epitacio Pessoa, 258 Jaragua Do Sul, 89251100 |
|
Date of Birth/Age : |
21.11.1960 |
|
Date of Appointment : |
10.04.2008 |
|
DIN No.: |
00178216 |
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Name : |
Eduardo De Nobrega |
|
Designation : |
Director |
|
Address : |
R Adolfo Sacani, AP 803 Centro Jaragua DU 89253 – 075, Jaragua DU
SUL 00036, Brazil |
|
Date of Birth/Age : |
26.05.1962 |
|
Date of Appointment : |
29.09.2012 |
|
DIN No.: |
03554003 |
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|
Name : |
Sinesio Tenfen |
|
Designation : |
Director |
|
Address : |
R Alberto Picolli, Agua Verde, 89254 – 460, Jaragua DO SUL 00046,
Brazil |
|
Date of Birth/Age : |
09.10.1954 |
|
Date of Appointment : |
29.09.2012 |
|
DIN No.: |
03554007 |
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|
|
|
Name : |
Wilson Jose Watzko |
|
Designation : |
Director |
|
Address : |
RUA 22- Ney Franco 55, O Jaragua, SUL SC 8925050, Jaragua DO SUL
89256050, Brazil |
|
Date of Birth/Age : |
12.07.1958 |
|
Date of Appointment : |
25.10.2013 |
|
DIN No.: |
06497766 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2014
|
Names of Shareholders |
|
No. of Shares |
|
Weg Iberia SL, Spain |
|
1549981 |
|
Weg Equipamentos Eletricos SA, Brazil |
|
3 |
|
Total |
|
1549984 |
Equity Share Break up (Percentage of Total Equity)
AS ON 30.09.2014
|
Category |
Percentage |
|
Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s), Non-resident
Indian(s) or Overseas Corporate bodies or Others |
100.00 |
|
Total
|
100.00 |
%20PRIVATE%20LIMITED%20-%20315733%2003-Apr-2015_files/image002.gif)
BUSINESS DETAILS
|
Line of Business : |
The Company is in the business of Manufacture, Export, Import of Rotating Electrical Machinery, Mechanical Machinery and related devices. |
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Brand Names : |
Not Divulged |
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Agencies Held : |
Not Divulged |
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Exports : |
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Products : |
Finished Goods |
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Countries : |
·
Australia ·
Germany ·
UK |
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Imports : |
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Products : |
Raw Material |
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Countries : |
·
China ·
Germany |
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Terms : |
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Selling : |
Cash, Cheque and Credit |
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Purchasing : |
Cash, Cheque and Credit |
PRODUCTION STATUS :NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
Wholesalers, Retailers and Manufacturer
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No. of Employees : |
450 (Approximately) |
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Bankers : |
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Auditors : |
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Name : |
BSRR and Company Chartered Accountants |
|
Address : |
Maruti Info-Tech Centre,11-12/1 Inner Ring Road, Koramangala, Bangalore - 560071, Karnataka, India |
|
PAN N Income-tax PAN of auditor or auditor's firm : |
AAKFB1884H |
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|
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Name : |
S R Batliboi and Company Chartered Accountants |
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Memberships : |
-- |
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Collaborators : |
-- |
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Holding Company: |
WEG Iberia S.L |
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Ultimate Holding
Company : |
WEG S.A. |
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Fellow Subsidiary
Companies: |
· WEG Equipmentos Electricos S.A · WEG Australia Pty Limited · WEG Electric Corporation · WEG Electric Motors UK Limited · Zest Electric Motors Pty Limited · WEG Germany Gmbh · WEG Italia S.R.L · WEG Mexico S.A. · WEG Scandinavia AB · WEG Euro-Industria Electrica S.A. · WEG Electric (India) Private Limited · WEG S A, Brazil · WEG Singapore PTE Limited · WEG (Nantong) Electric Moter MFG. Company |
CAPITAL STRUCTURE
AS ON 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2,000,000 |
Equity Shares |
Rs.10/- each |
Rs. 20.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1,549,984 |
Equity Shares |
Rs.10/- each |
Rs. 15.500
Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED BALANCE
SHEET
|
SOURCES
OF FUNDS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
15.500 |
15.500 |
14.361 |
|
(b) Reserves & Surplus |
3131.623 |
3003.164 |
2956.233 |
|
(c) Money received against
share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money
pending allotment |
0.000 |
0.000 |
259.209 |
|
Total
Shareholders’ Funds (1) + (2) |
3147.123 |
3018.664 |
3229.803 |
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|
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(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(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 |
19.225 |
7.753 |
6.995 |
|
Total
Non-current Liabilities (3) |
19.225 |
7.753 |
6.995 |
|
|
|
|
|
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(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
202.103 |
514.598 |
263.310 |
|
(b) Trade payables |
162.581 |
133.647 |
172.656 |
|
(c) Other current liabilities |
98.859 |
170.345 |
32.178 |
|
(d) Short-term provisions |
35.071 |
19.106 |
6.782 |
|
Total
Current Liabilities (4) |
498.614 |
837.696 |
474.926 |
|
|
|
|
|
|
TOTAL |
3664.962 |
3864.113 |
3711.724 |
|
|
|
|
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II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
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(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
2333.311 |
2467.261 |
2605.766 |
|
(ii) Intangible Assets |
4.952 |
4.926 |
2.851 |
|
(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 |
15.001 |
135.486 |
225.892 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
2353.264 |
2607.673 |
2834.509 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
675.599 |
794.603 |
586.157 |
|
(c) Trade receivables |
317.288 |
253.752 |
195.181 |
|
(d) Cash and cash equivalents |
0.181 |
1.467 |
0.801 |
|
(e) Short-term loans and
advances |
318.630 |
206.618 |
95.076 |
|
(f) Other current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
1311.698 |
1256.440 |
877.215 |
|
|
|
|
|
|
TOTAL |
3664.962 |
3864.113 |
3711.724 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Income |
1873.099 |
|
|
|
|
Other Income |
|
|
|
|
|
TOTAL |
1873.099 |
1240.101 |
640.244 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
TOTAL |
1581.678 |
1289.949 |
683.619 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
291.421 |
(49.848) |
(43.375) |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION |
162.963 |
161.288 |
123.238 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
128.458 |
(211.136) |
(166.613) |
|
|
|
|
|
|
|
Less |
TAX |
0.000 |
0.000 |
69.436 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
128.458 |
(211.136) |
(236.049) |
|
|
|
|
|
|
|
|
EARNINGS
IN FOREIGN CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
1010.107 |
686.294 |
410.853 |
|
|
Service Income |
|
|
2.286 |
|
|
TOTAL
EARNINGS |
1010.107 |
686.294 |
413.139 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
NA |
NA |
201.752 |
|
|
Capital Goods |
NA |
NA |
7.707 |
|
|
TOTAL
IMPORTS |
NA |
NA |
209.459 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
82.88 |
(136.22) |
NA |
%20PRIVATE%20LIMITED%20-%20315733%2003-Apr-2015_files/image003.gif){kind=small}
%20PRIVATE%20LIMITED%20-%20315733%2003-Apr-2015_files/image004.gif){kind=small}
%20PRIVATE%20LIMITED%20-%20315733%2003-Apr-2015_files/image005.gif){kind=small}
%20PRIVATE%20LIMITED%20-%20315733%2003-Apr-2015_files/image006.gif){kind=small}
%20PRIVATE%20LIMITED%20-%20315733%2003-Apr-2015_files/image007.gif){kind=small}
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
PAT / Sales |
(%) |
6.86 |
(17.03) |
(36.87) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
3.51 |
(5.46) |
(4.49) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.04 |
(0.07) |
(0.05) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.06 |
0.17 |
0.08 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.63 |
1.50 |
1.85 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Share Capital |
14.361 |
15.500 |
15.500 |
|
Reserves & Surplus |
2956.233 |
3003.164 |
3131.623 |
|
Share Application money pending allotment |
259.209 |
0.000 |
0.000 |
|
Net worth |
3229.803 |
3018.664 |
3147.123 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
263.310 |
514.598 |
202.103 |
|
Total borrowings |
263.310 |
514.598 |
202.103 |
|
Debt/Equity ratio |
0.082 |
0.170 |
0.064 |
%20PRIVATE%20LIMITED%20-%20315733%2003-Apr-2015_files/image009.gif)
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Sales |
640.244 |
1240.101 |
1873.099 |
|
|
|
93.692 |
51.044 |
%20PRIVATE%20LIMITED%20-%20315733%2003-Apr-2015_files/image011.gif)
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Sales |
640.244 |
1240.101 |
1873.099 |
|
Profit/loss |
(236.049) |
(211.136) |
128.458 |
|
|
(36.87%) |
(17.03%) |
6.86% |
%20PRIVATE%20LIMITED%20-%20315733%2003-Apr-2015_files/image013.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 |
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 |
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 |
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 |
No |
INDEX OF CHARGES: NO CHARGES EXIST FOR COMPANY
BUSINESS:
The company is engaged in the manufacture of motors during the current financial year and wherever opportunities are available it will undertake manufacture of other rotating electrical machinery of different types, models, designs, mechanical machinery, equipment, devices and tools, electric, electronic and electro-mechanical machinery, equipment and integrated systems, components and devices, machinery and equipment for the conservation, production, generation, transmission and distribution of electric power, electromechanical and electronic components to control, command, protect and signal electric circuits and wiring for the purpose of extending timely after sales service and technical support services to store components and parts of various types of motors and generators.
UNSECURED LOAN
|
PARTICULARS |
31.03.2014 (Rs.
in Million) |
31.03.2013 (Rs.
in Million) |
|
Short-term borrowings |
|
|
|
Working capital loans from banks |
202.103 |
514.598 |
|
|
|
|
|
Total |
202.103 |
514.598 |
FIXED ASSETS
Tangible assets
· Land
· Buildings
· Plant and equipment
· Furniture and fixtures
· Vehicles
· Office equipment
· Computer equipment
Intangible assets
· Computer software
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 records 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.62.59 |
|
|
1 |
Rs.92.46 |
|
Euro |
1 |
Rs.67.51 |
INFORMATION DETAILS
|
Information Gathered
by : |
DPA |
|
|
|
|
Analysis Done by
: |
SUM |
|
|
|
|
Report Prepared
by : |
SNT |
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 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
--- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--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 |
|
47 |
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.