MIRA INFORM REPORT
|
Report No. : |
316252 |
|
Report Date : |
07.04.2015 |
IDENTIFICATION DETAILS
|
Name : |
HIND SAMACHAR LIMITED |
|
|
|
|
Registered
Office : |
Hind Samachar
Street, Pucca Bagh, Civil Lines, Jalandhar – 144001, Punjab |
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|
Country : |
India |
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|
|
Financials (as
on) : |
31.03.2014 |
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|
|
Date of
Incorporation : |
09.08.1949 |
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|
|
|
Com. Reg. No.: |
16-001529 |
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|
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Capital
Investment / Paid-up Capital : |
Rs. 1.502 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U22121PB1949PLC001529 |
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|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
DELT04710G |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAIPC6242Q |
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|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
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|
|
|
Line of Business
: |
Importer of
Newsprint, Graphic Art Films, Publishing New Paper. |
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|
|
|
No. of Employees
: |
3000 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (52) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 5780000 |
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|
|
|
Status : |
Good |
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|
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a well-established and reputed publisher of Newspaper. It is an established company having good track record. As per
“Registrar of Companies” the status of the company is shown as “Dormant” the
management of the company has not filed its financials since its
incorporation. Mr. Sanjay Gupta from Finance Manager provided all information also
confirmed that the company is very much active. The rating reflects company sound financial risk profile marked by
healthy reserves level and fair profitability of the company. Trade relations are reported as fair. Business is active. Payments are
reported to be regular and as per commitment. The company can be considered normal for business dealings 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 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 |
|
Restricted |
C2 |
|
Off-credit |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
Long term bank facilities: “A-” |
|
Rating Explanation |
Adequate degree of safety and carry low
credit risk. |
|
Date |
21.02.2014 |
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
31-03-2014.
INFORMATION PARTED BY
|
Name : |
Mr. Sanjay Kumar Gupta |
|
Designation : |
General Manager (Accounts and Finance) |
|
Contact No.: |
91-181-2280104 |
|
Date : |
04.04.2015 |
LOCATIONS
|
Registered / Head
Office / Factory : |
Hind Samachar
Street, Pucca Bagh, Civil Lines, Jalandhar – 144 001, Punjab, India |
|
Tel. No.: |
91-181-2280104 |
|
Fax No.: |
91-181-2208113 |
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E-mail : |
|
|
Website: |
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|
|
|
|
Factories : |
Located at · Ludhiana · Ambala · Panipat · Chandigarh · Palanpur · Jammu · Hisar |
DIRECTORS
AS ON 2013
|
Name : |
Mr. Vijay Kumar
Chopra |
|
Designation : |
Chairman cum Managing
Director |
|
Address : |
Model Town, Jalandhar, Punjab, India |
|
Qualification
: |
Graduate |
|
|
|
|
Name : |
Mr. Amit Chopra |
|
Designation : |
Director |
|
Address : |
Model Town,
Jalandhar, Punjab, India |
|
Qualification
: |
Graduate |
|
|
|
|
Name : |
Mr. Avinash
Chopra |
|
Designation : |
Director |
|
Address : |
Model Town, Jalandhar, Punjab, India |
|
Qualification
: |
Graduate |
KEY EXECUTIVES
|
Name : |
Mr. Sanjay Kumar Gupta |
|
Designation : |
General Manager (Accounts and Finance) |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
NOTE: SHAREHOLDERS DETAILS FILE NOT AVAILABLE.
BUSINESS DETAILS
|
Line of Business : |
Importer of
Newsprint, Graphic Art Films, Publishing New Paper. |
|
|
|
|
Brand Names : |
·
Punjab
Kesari ·
Jag
Bani ·
Hind
Samachar |
|
|
|
|
Agencies Held : |
-- |
|
|
|
|
Exports : |
-- |
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Imports : |
|
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Products : |
Raw Material |
|
Countries : |
· Russia · Canada · Korea · USA · Australia · Austria |
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Terms : |
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Selling : |
Cash and Credit |
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Purchasing : |
Cash and Credit |
PRODUCTION STATUS: NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
Wholesalers, Retailers and Manufacturer
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No. of Employees : |
3000 (Approximately) |
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||||||||||||||||||||||
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Bankers : |
· Axis Bank Limited, Trishul, 3rd Floor, Opposite Samartheshwar Temple, Law Garden Ellisbridge, Ahmedabad - 380006, Gujarat, India ·
Punjab
National Bank, Jalandhar, Punjab, India |
||||||||||||||||||||||
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|
||||||||||||||||||||||
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Banking
Relations : |
-- |
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|
|
|
Auditors : |
|
|
Name : |
S. C. Vasudeva
and Company Chartered
Accountants |
|
Address : |
E-1, Connaught
Place, New Delhi-110001, India |
|
Tel. No.: |
91-11-23328655 |
|
|
|
|
Memberships : |
-- |
|
|
|
|
Collaborators : |
-- |
|
|
|
|
Associates / Subsidiaries : |
·
Vijay
Printing Press Private Limited ·
Chopra
Publishing House Private Limited ·
Chopra
Hotels Private Limited ·
Punjab
Kesari Publishing House Private Limited |
CAPITAL STRUCTURE
As on 31.03.2014
Authorised Capital : Not Available
Issued, Subscribed & Paid-up Capital : Rs.
1.502 Million
FINANCIAL DATA
[all figures are
in Rupees Million]
(JALANDHAR UNITS)
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2014 |
31.03.2013 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders'
Funds |
|
|
|
|
(a) Share Capital |
|
1.502 |
1.502 |
|
(b) Reserves & Surplus |
|
2020.577 |
1725.613 |
|
(c) Money
received against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2)
Share Application money pending allotment |
|
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
|
2022.079 |
1727.115 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) Long-term borrowings |
|
128.141 |
158.580 |
|
(b) Deferred tax liabilities (Net) |
|
0.000 |
0.000 |
|
(c) Other long term
liabilities |
|
102.765 |
97.542 |
|
(d) long-term
provisions |
|
2.260 |
2.047 |
|
Total Non-current
Liabilities (3) |
|
233.166 |
258.169 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
|
201.498 |
383.677 |
|
(b) Trade
payables |
|
299.366 |
344.892 |
|
(c) Other
current liabilities |
|
157.880 |
99.912 |
|
(d) Short-term
provisions |
|
0.000 |
0.000 |
|
Total Current Liabilities
(4) |
|
658.744 |
828.481 |
|
|
|
|
|
|
TOTAL |
|
2913.989 |
2813.765 |
|
|
|
|
|
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II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
|
1259.883 |
1158.322 |
|
(ii) Intangible
Assets |
|
8.758 |
2.865 |
|
(iii)
Capital work-in-progress |
|
0.000 |
0.000 |
|
(iv)
Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
0.274 |
0.274 |
|
(c) Deferred tax assets (net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
145.108 |
214.282 |
|
(e) Other
Non-current assets |
|
0.036 |
0.033 |
|
Total Non-Current
Assets |
|
1414.059 |
1375.776 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
|
0.000 |
0.000 |
|
(b)
Inventories |
|
119.088 |
316.059 |
|
(c) Trade
receivables |
|
763.302 |
706.250 |
|
(d) Cash
and cash equivalents |
|
463.486 |
264.854 |
|
(e)
Short-term loans and advances |
|
154.054 |
150.826 |
|
(f) Other
current assets |
|
0.000 |
0.000 |
|
Total
Current Assets |
|
1499.930 |
1437.989 |
|
|
|
|
|
|
TOTAL |
|
2913.989 |
2813.765 |
|
SOURCES OF FUNDS |
|
|
31.03.2012 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
1.502 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
1463.057 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
1464.559 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
611.844 |
|
|
2] Unsecured Loans |
|
|
|
|
|
TOTAL BORROWING |
|
|
611.844 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
2076.403 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
986.748 |
|
|
Capital work-in-progress |
|
|
128.402 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.274 |
|
|
DEFERREX TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
311.393 |
|
|
Sundry Debtors |
|
|
577.021 |
|
|
Cash & Bank Balances |
|
|
208.361 |
|
|
Other Current Assets |
|
|
0.030 |
|
|
Loans & Advances |
|
|
339.959 |
|
Total
Current Assets |
|
|
1436.764 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditor |
|
|
285.375 |
|
|
Other Liabilities |
|
|
188.530 |
|
|
Provisions |
|
|
1.880 |
|
Total
Current Liabilities |
|
|
475.785 |
|
|
Net Current Assets |
|
|
960.979 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
2076.403 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
3268.514 |
4617.196 |
4052.04 |
|
|
|
Other Income |
22.316 |
10.023 |
20.858 |
|
|
|
TOTAL (A) |
3290.830 |
4627.219 |
4072.898 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
1545.986 |
1381.094 |
1335.938 |
|
|
|
Employees benefits expense |
98.959 |
119.460 |
56.894 |
|
|
|
Other expenses |
1087.750 |
2670.196 |
2209.922 |
|
|
|
TOTAL (B) |
2732.695 |
4170.750 |
3602.754 |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (A-B) (C) |
558.135 |
456.469 |
470.144 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
29.998 |
44.537 |
22.892 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
528.137 |
411.932 |
447.252 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
93.173 |
74.981 |
52.242 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F)
(G) |
434.964 |
336.951 |
395.010 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
140.000 |
74.395 |
113.001 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-H) (I) |
294.964 |
262.556 |
282.009 |
|
Expected Sales (2014-2015): Rs. 6500.000 Millions
The above information has been parted by Mr. Sanjay Gupta (Finance
Manager).
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT/Sales) |
(%) |
9.02 |
5.69 |
6.96 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/Sales) |
(%) |
17.08 |
9.89 |
11.60 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
14.93 |
11.98 |
16.29 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.22 |
0.20 |
0.27 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.16 |
0.31 |
0.42 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.28 |
1.74 |
3.02 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
|
Share Capital |
1.502 |
1.502 |
|
Reserves & Surplus |
1725.613 |
2020.577 |
|
Net
worth |
1727.115 |
2022.079 |
|
|
|
|
|
Long-term borrowings |
158.580 |
128.141 |
|
Short term borrowings |
383.677 |
201.498 |
|
Total
borrowings |
542.257 |
329.639 |
|
Debt/Equity
ratio |
0.314 |
0.163 |
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 |
4052.040 |
4617.196 |
3268.514 |
|
|
|
13.947 |
(29.210) |
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 |
4052.040 |
4617.196 |
3268.514 |
|
Profit |
282.009 |
262.556 |
294.964 |
|
|
6.96% |
5.69% |
9.02% |
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 |
No |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
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 |
No |
|
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 |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
10171608 |
08/07/2009 |
75,000,000.00 |
AXIS BANK LIMITED |
TRISHUL 3RD FLOOR
OPP SAMARTHESHWAR TEMPLE, LAW G |
A68135946 |
|
2 |
10064115 |
08/01/2010 * |
125,000,000.00 |
AXIS BANK LIMITED |
TRISHUL 3RD FLOOR OPP SAMARTHESHWAR TEMPLE, LAW GARDEN ELLISBRIDGE, AHMEDABAD, GUJARAT - 380006, INDIA |
A78771557 |
|
3 |
10050229 |
31/12/2010 * |
200,000,000.00 |
VIJAYA BANK |
G. T. ROAD, JALANDHAR, PUNJAB - 144001, INDIA |
B06679781 |
|
4 |
80036173 |
11/01/1991 |
13,700,000.00 |
INDUSTRIAL FINANCE CORPORATION OF INDIA |
BANK OF BARODA BUILDING, 16,SANSAD MARG, NEW DELHI, DELHI - 110001, INDIA |
- |
|
5 |
80036174 |
03/09/1990 |
13,500,000.00 |
INDUSTRIAL FINANCE CORPORATION OF INDIA |
BANK OF BARODA BUILDING, 16,SANSAD MARG, NEW DELHI, DELHI - 110001, INDIA |
- |
* Date of charge modification
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.62.16 |
|
|
1 |
Rs.92.73 |
|
Euro |
1 |
Rs.68.23 |
INFORMATION DETAILS
|
Information
Gathered by : |
DIP |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
MRI |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILITY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
|
52 |
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.