MIRA INFORM REPORT
|
Report No. : |
316547 |
|
Report Date : |
07.04.2015 |
IDENTIFICATION DETAILS
|
Name : |
MICRO POLYPET PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
303-304-305, Gopal Heights, Netaji Subhash Place, New Delhi - 110034 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
13.08.2010 |
|
|
|
|
Com. Reg. No.: |
55-207043 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.79.884 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U25200DL2010PTC207043 |
|
|
|
|
IEC No.: |
0510087159 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAGNM6960N |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of PET resin products and polyesters. |
|
|
|
|
No. of Employees
: |
120 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (29) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject was incorporated as a joint venture between the action Group
and RLG Group, incorporated in August 2010, whereas has recently commenced
commercial operations from September, 2014. The company possesses a below average financial profile marked by high
gearing ratio and working capital intensive nature of operations. Management has reported a minuscule revenue leading to losses which
includes some pre-operative expenses as well during FY14. However, trade relations are improving. Business is active. Payment
terms are reported as slow but correct. In view of experienced management team and resourceful promoters, amid
limited track record of operations the company can be considered for business
dealings with 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 – 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 = BB |
|
Rating Explanation |
Moderate risk of default regarding timely servicing of financial
obligations. |
|
Date |
11.03.2014 |
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. Ghanshyam Singh |
|
Designation : |
General Manager – Finance |
|
Contact No.: |
91-8447738694 |
|
Date : |
07.04.2015 |
LOCATIONS
|
Registered Office / Factory : |
303-304-305, Gopal Heights, Netaji Subhash Place, New Delhi – 110034, India |
|
Tel. No.: |
91-11-41117777 |
|
Mobile No.: |
91-8447738694 (Mr. Ghanshyam Singh) |
|
Fax No.: |
91-11-41117717 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Corporate Office : |
307, Gopal Heights, Netaji Subhash Place, New Delhi – 110034, India |
DIRECTORS
AS ON 30.09.2014
|
Name : |
Mr. Raj Kumar Gupta |
|
Designation : |
Director |
|
Address : |
15/17, East Punjabi Bagh, New Delhi – 110026, India |
|
Date of Birth/Age : |
15.08.1959 |
|
Date of Appointment : |
13.08.2010 |
|
DIN No.: |
00011982 |
|
|
|
|
Name : |
Mr. Raman Goel |
|
Designation : |
Director |
|
Address : |
11-A, Anand Lok, New Delhi – 110049, India |
|
Date of Birth/Age : |
23.09.1974 |
|
Date of Appointment : |
13.08.2010 |
|
DIN No.: |
00213977 |
|
|
|
|
Name : |
Mr. Rahul Goyal |
|
Designation : |
Director |
|
Address : |
11-A, Anand Lok, New Delhi – 110049, India |
|
Date of Birth/Age : |
15.08.1972 |
|
Date of Appointment : |
13.08.2010 |
|
DIN No.: |
01922641 |
|
|
|
|
Name : |
Mr. Vishesh Aggarwal |
|
Designation : |
Director |
|
Address : |
House No.15, Road No.17, East Punjabi Bagh, New Delhi – 110026,
India |
|
Date of Birth/Age : |
14.07.1985 |
|
Date of Appointment : |
13.08.2010 |
|
DIN No.: |
02059028 |
|
|
|
|
Name : |
Ms. Kusum Singh |
|
Designation : |
Nominee director |
|
Address : |
C-30, Ground Floor, Jang Pura
Extension, New Delhi – 110014, India |
|
Date of Birth/Age : |
19.11.1969 |
|
Date of Appointment
: |
20.03.2014 |
|
Date of cessation : |
08.12.2014 |
|
DIN No.: |
06809557 |
KEY EXECUTIVES
|
Name : |
Mr. Ghanshyam Singh |
|
Designation : |
General Manager – Finance |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2014
|
Names of Shareholders |
No. of Shares |
|
Raman Goel |
432500 |
|
Raj Kumar Gupta |
2106700 |
|
Luna Chemical Inds. Private Limited, India |
3559200 |
|
Asha Devi |
437500 |
|
Amit Aggarwal |
250000 |
|
Vishesh Aggarwal |
5000 |
|
Rahul Goel |
2500 |
|
Euro Forge Private Limited, India |
350000 |
|
Mahan Plastic Private Limited, India |
595000 |
|
Micro Footwears Private Limited, India |
250000 |
|
|
|
|
Total |
7988400 |
AS ON 23.012.2014
|
Names of Allottee |
No. of Shares |
|
Raj Kumar Gupta |
2011600 |
|
|
|
|
TOTAL |
2011600 |
Equity Share Break up (Percentage of Total Equity)
AS ON 30.09.2014
|
Category |
Percentage |
|
Bodies corporate |
59.51 |
|
Directors or relatives of Directors |
40.49 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of PET resin products and polyesters. |
|
|
|
|
Products : |
Not Available |
|
|
|
|
Brand Names : |
Not Divulged |
|
|
|
|
Agencies Held : |
Not Divulged |
|
|
|
|
Exports : |
|
|
Products : |
Resin products |
|
Countries : |
|
|
|
|
|
Imports : |
Not Available |
|
|
|
|
Terms : |
|
|
Selling : |
Cheque |
|
|
|
|
Purchasing : |
Cheque |
PRODUCTION STATUS: NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
|
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Customers : |
End Users and OEMs
|
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
No. of Employees : |
120 (Approximately) |
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Bankers : |
|
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Facilities : |
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Arun Naresh and Company Chartered Accountants |
|
Address : |
259, Aggarwal City Plaza, Sector-3, Rohini, New Delhi – 110085, India |
|
Tel. No.: |
91-11-27948143 |
|
Mobile No.: |
91-9811325740 |
|
E-Mail : |
|
|
PAN N Income-tax PAN of auditor or auditor's firm : |
AAFFA5631C |
|
|
|
|
Memberships : |
-- |
|
|
|
|
Collaborators : |
-- |
|
|
|
|
Subsidiaries : |
|
CAPITAL STRUCTURE
AFTER 30.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10,000,000 |
Equity Shares |
Rs.10/- each |
Rs. 100.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10,000,000 |
Equity Shares |
Rs.10/- each |
Rs. 100.000 Millions |
|
|
|
|
|
AS ON 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10,000,000 |
Equity Shares |
Rs.10/- each |
Rs. 100.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
7,988,400 |
Equity Shares |
Rs.10/- each |
Rs. 79.884
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
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 |
79.884 |
49.998 |
40.018 |
|
(b) Reserves &
Surplus |
718.056 |
449.080 |
359.264 |
|
(c) Money received
against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application
money pending allotment |
0.000 |
266.483 |
0.000 |
|
Total Shareholders’ Funds
(1) + (2) |
797.940 |
765.561 |
399.282 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
3870.136 |
2348.749 |
253.815 |
|
(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) |
3870.136 |
2348.749 |
253.815 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
17.775 |
0.000 |
0.000 |
|
(b) Trade payables |
152.983 |
146.719 |
0.000 |
|
(c) Other current
liabilities |
86.799 |
25.258 |
18.766 |
|
(d) Short-term provisions |
0.000 |
0.000 |
0.000 |
|
Total Current Liabilities
(4) |
257.557 |
171.977 |
18.766 |
|
|
|
|
|
|
TOTAL |
4925.633 |
3286.287 |
671.863 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
4370.629 |
66.370 |
60.336 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
118.559 |
2835.739 |
222.743 |
|
(iv) Intangible assets
under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
45.591 |
45.664 |
70.300 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
192.628 |
188.413 |
266.327 |
|
(e) Other Non-current
assets |
2.288 |
1.147 |
1.683 |
|
Total Non-Current Assets |
4729.695 |
3137.333 |
621.389 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
33.671 |
0.000 |
0.000 |
|
(c) Trade receivables |
2.270 |
0.000 |
0.000 |
|
(d) Cash and cash
equivalents |
30.640 |
79.417 |
41.913 |
|
(e) Short-term loans and
advances |
124.214 |
67.609 |
8.374 |
|
(f) Other current assets |
5.143 |
1.928 |
0.187 |
|
Total Current Assets |
195.938 |
148.954 |
50.474 |
|
|
|
|
|
|
TOTAL |
4925.633 |
3286.287 |
671.863 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Income |
1.981 |
0.000 |
0.000 |
|
|
Net Capital Capitalized
and Other Income |
419.182 |
0.000 |
0.000 |
|
|
TOTAL |
421.163 |
0.000 |
0.000 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
1.396 |
0.000 |
0.000 |
|
|
Net Preoperative expenses
transferred from statement of preoperative Expenses |
419.767 |
0.000 |
0.000 |
|
|
TOTAL |
421.163 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
Less |
TAX |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (Rs.) |
0.00 |
0.00 |
-- |
|
Particulars |
|
|
31.03.2015 |
|
|
|
|
|
|
Sales Turnover (Approximately) |
|
|
16.500 |
|
|
|
|
|
The above information has been parted by Mr. Ghanshyam Singh
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
4.87 |
3.07 |
0.64 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.76 |
0.87 |
2.69 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Millions) |
(Rs. In Millions) |
(Rs. In Millions) |
|
Share Capital |
40.018 |
49.998 |
79.884 |
|
Reserves & Surplus |
359.264 |
449.080 |
718.056 |
|
Share Application money pending allotment |
0.000 |
266.483 |
0.000 |
|
Net worth |
399.282 |
765.561 |
797.940 |
|
|
|
|
|
|
long-term borrowings |
253.815 |
2348.749 |
3870.136 |
|
Short term borrowings |
0.000 |
0.000 |
17.775 |
|
Total borrowings |
253.815 |
2348.749 |
3887.911 |
|
Debt/Equity ratio |
0.636 |
3.068 |
4.872 |
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 |
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 |
No |
|
34] |
External Agency Rating,
if available |
Yes |
UNSECURED LOAN
|
PARTICULARS |
31.03.2014 (Rs.
in Millions) |
31.03.2013 (Rs.
in Millions) |
|
Long-term
Borrowings |
|
|
|
Loans from share holders |
NA |
130.424 |
|
|
|
|
|
Total |
NA |
130.424 |
NOTE:
The registered office of the company has been shifted from D-10, Udyog
Nagar, Peera Garhi, New Delhi - 110041, India to the present address w.e.f.
01.08.2012.
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
10524777 |
02/06/2014 |
160,000,000.00 |
EXPORT IMPORT BANK OF INDIA |
CENTRE 1, 21 FLOOR, WORLD TRADE CENTRE, CUFFE PAR |
C28532505 |
|
2 |
10450683 |
10/11/2014 * |
5,245,000,000.00 |
BANK OF BARODA |
CFS BRANCH,, PARLIAMENT STREET,, NEW DELHI, DELHI |
C39252267 |
|
3 |
10330225 |
11/06/2014 * |
2,040,000,000.00 |
UNION BANK OF INDIA |
73-74 SHEETLA HOUSE, NEHRU PLACE, NEW DELHI, DELH |
C15751183 |
|
4 |
10323377 |
09/07/2014 * |
2,295,000,000.00 |
BANK OF BARODA |
CFS BRANCH,, PARLIAMENT STREET,, NEW DELHI, DELHI |
C18294017 |
|
5 |
10314244 |
07/12/2011 * |
750,000,000.00 |
EXPORT IMPORT BANK OF INDIA |
CENTRE 1, 21 FLOOR, WORLD TRADE CENTRE, CUFFE PAR |
B31202203 |
|
6 |
10285853 |
27/04/2011 |
20,000,000.00 |
STATE BANK OF BIKANER & JAIPUR |
KIRTI NAGAR, NEW DELHI, DELHI - 110015, INDIA |
B12603924 |
* Date of charge modification
FIXED ASSETS
- Industrial Land
- Furniture and Fixtures
- Vehicle
- Office Equipment
- Computer
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 : |
MNJ |
|
|
|
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
ANK |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILITY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
4 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
29 |
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.