MIRA INFORM REPORT
|
Report No. : |
316795 |
|
Report Date : |
10.04.2015 |
IDENTIFICATION DETAILS
|
Name : |
LIGHTALIVE SOLUTIONS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
10-11B, Ground Floor, Plot 470/471, Bussa Industrial Estate, S H Tandel Marg, Prabhadevi, Mumbai – 400025, Maharashtra |
|
Tel. No.: |
91-22-24945686 / 7 /8 |
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Country : |
India |
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Financials (as
on) : |
31.03.2014 |
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|
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Date of
Incorporation : |
24.01.2013 |
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|
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Com. Reg. No.: |
11-239967 |
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Capital
Investment / Paid-up Capital : |
Rs.2.500 Million |
|
|
|
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CIN No.: [Company Identification
No.] |
U74999MH2013PTC239967 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUML08890A |
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|
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PAN No.: [Permanent Account No.] |
AACCL4292L |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Provide architectural lighting solution. |
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No. of Employees
: |
30 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (34) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate track. It was the first full year of operations for the company where it has
performed well and has achieved decent profit margin during year under
review. However, the rating remains constrained on account of huge external
borrowings taken by the company which act as a threat to its liquidity.
Further, there is an unfavorable gap between trade receivables and payables
during FY2014. Trade relations are reported to be fair. Business is active. Payment
terms are reported to be slow but correct. The company can be considered for business dealing 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.
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
|
Name : |
Mr. Tarun Mehta |
|
Designation : |
Account Department |
|
Contact No.: |
91-22-22022263 |
|
Date : |
09.04.2015 |
LOCATIONS
|
Registered Office : |
10-11B, Ground Floor, Plot 470/471, Bussa Industrial
Estate, S H Tandel Marg, Prabhadevi, Mumbai – 400025, Maharashtra, India |
|
Tel. No.: |
91-22-2494 5686/7/8 / 22022263 |
|
Fax No.: |
91-22- 24215689 |
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E-Mail : |
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Website : |
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|
Location : |
Rented |
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|
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Branch Office: |
Located at
|
DIRECTORS
As on 30.09.2014
|
Name : |
Mr. Suketu Suryakant Jhaveri |
|
Designation : |
Director |
|
Address : |
A/22, Ocean Gold Cooperative Housing Society, Twin Towers Lane, Bombay
Dyeing Compound, Prabhadevi, Mumbai – 400025, Maharashtra, India |
|
Date of Birth/Age : |
08.06.1940 |
|
Date of Appointment : |
24.01.2013 |
|
DIN No.: |
02423449 |
|
|
|
|
Name : |
Mr. Maulik Suketu Jhaveri |
|
Designation : |
Director |
|
Address : |
A/83, Ocean Gold Cooperative Housing Society, Twin Towers Lane, Bombay
Dyeing Compound, Prabhadevi, Mumbai – 400025, Maharashtra, India |
|
Date of Birth/Age : |
15.06.1969 |
|
Date of Appointment : |
24.01.2013 |
|
DIN No.: |
02424595 |
|
|
|
|
Name : |
Mr. Yash Shirish Jhaveri |
|
Designation : |
Director |
|
Address : |
3 Shanti Sadan, 2 Watcha Gandhi Road, Gamdevi Mumbai – 400007,
Maharashtra, India |
|
Date of Birth/Age : |
24.01.1977 |
|
Date of Appointment : |
24.01.2013 |
|
DIN No.: |
02424614 |
|
|
|
|
Name : |
Mr. Shirish Suryakant Jhaveri |
|
Designation : |
Director |
|
Address : |
30-1, Shanti Sadan A, 35 Vachha Gandhi Road, Mumbai – 400007,
Maharashtra, India |
|
Date of Birth/Age : |
14.04.1943 |
|
Date of Appointment : |
24.01.2013 |
|
DIN No.: |
05005879 |
KEY EXECUTIVES
|
Name : |
Mr. Tarun Mehta |
|
Designation : |
Account Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2014
|
Names of Shareholders |
No. of Shares |
% age |
|
Suketu Suryakant Jhaveri |
72500 |
29.00 |
|
Shirish Suryakant Jhaveri |
72500 |
29.00 |
|
Maulik Suketu Jhaveri |
72500 |
29.00 |
|
Yash Shirish Jhaveri |
25000 |
10.00 |
|
Geeta Suketu Jhaveri |
2500 |
1.00 |
|
Siddhi Shirish Jhaveri |
2500 |
1.00 |
|
Nina Maulik Jhaveri |
2500 |
1.00 |
|
Total |
250000 |
100.00 |
Equity Share Break up (Percentage of Total Equity)
As on 30.09.2014
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Provide architectural lighting solution. |
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Brand Names : |
Not Divulged |
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Agencies Held : |
Not Divulged |
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Exports : |
Not Divulged |
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Imports : |
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Products : |
Finished Good |
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Countries : |
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Terms : |
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Selling : |
Cash and Credit (30 days / 60 days / 90 days) |
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Purchasing : |
Cash and Credit (30 days / 60 days / 90 days) |
PRODUCTION STATUS : NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
End Users and OEMs
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No. of Employees : |
30 (Approximately) |
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Bankers : |
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Facilities : |
NOTE: Long-term
Borrowings Car loan is secured against car purchased. Repayable in 36 equal
monthly installments beginning form 7th July 2012. Loans from Indiabulls Housing Finance Limited : Secured by
mortgage of property which the loan is availed repayable in 189 equal monthly
installments opening from 05.12.2013. interest rate is app 14.25% p.a. also
personnel guarantee is also given by one of the director. Short-term
borrowings Working capital limit by way of Bank overdraft if from IDBI is secured
by hypothecation of book debts and inventories. The overdraft carried an
interest rate of app 13%. The limit is guaranteed by all the directors of the
company and is further secured against personal property one of the
directors. |
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Banking
Relations : |
-- |
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|
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Finance Institute: |
Indiabulls Housing Finance Limited, M - 62 & 63, First
Floor, Connaught Place, New Delhi - 110001, Delhi, India |
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|
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Auditors : |
|
|
Name : |
Natvarlal Vepari and Company Chartered Accountants |
|
Address : |
Oricon House, 4th Floor, 12, K. Dubash Marg, Mumbai – 400023,
Maharashtra, India |
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Tel. No.: |
91-22-67527100 |
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Fax No.: |
91-22-67527101 |
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E-Mail : |
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PAN N Income-tax PAN of auditor or auditor's firm : |
AAAFN2322E |
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Memberships : |
-- |
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Collaborators : |
-- |
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Subsidiary Company : |
Visual Balance Pte Limited, Singapore |
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Associates |
Kirti Trading Company |
CAPITAL STRUCTURE
AS ON 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
250000 |
Equity Shares |
Rs.10/- each |
Rs. 2.500 Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
250000 |
Equity Shares |
Rs.10/- each |
Rs. 2.500 Million |
FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED BALANCE
SHEET
|
SOURCES
OF FUNDS |
|
31.03.2014 |
24.01.2013 To 31.03.2013 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
2.500 |
2.500 |
|
(b) Reserves & Surplus |
|
8.433 |
0.555 |
|
(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) |
|
10.933 |
3.055 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
35.995 |
11.490 |
|
(b) Deferred tax liabilities
(Net) |
|
0.236 |
0.000 |
|
(c) Other long term
liabilities |
|
0.000 |
0.000 |
|
(d) long-term provisions |
|
0.000 |
0.000 |
|
Total
Non-current Liabilities (3) |
|
36.231 |
11.490 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
|
10.232 |
8.576 |
|
(b) Trade payables |
|
18.549 |
7.275 |
|
(c) Other current liabilities |
|
9.264 |
5.471 |
|
(d) Short-term provisions |
|
0.080 |
0.476 |
|
Total
Current Liabilities (4) |
|
38.125 |
21.798 |
|
|
|
|
|
|
TOTAL |
|
85.289 |
36.343 |
|
|
|
|
|
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II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
35.087 |
4.110 |
|
(ii) Intangible Assets |
|
0.000 |
0.000 |
|
(iii) Capital work-in-progress |
|
0.000 |
0.000 |
|
(iv) Intangible assets under
development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
3.003 |
0.000 |
|
(c) Deferred tax assets (net) |
|
0.000 |
0.050 |
|
(d) Long-term Loan and Advances |
|
4.963 |
1.496 |
|
(e) Other Non-current assets |
|
0.625 |
0.425 |
|
Total
Non-Current Assets |
|
43.678 |
6.081 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
0.000 |
0.000 |
|
(b) Inventories |
|
24.193 |
18.051 |
|
(c) Trade receivables |
|
14.609 |
11.135 |
|
(d) Cash and cash equivalents |
|
1.736 |
0.501 |
|
(e) Short-term loans and
advances |
|
1.073 |
0.575 |
|
(f) Other current assets |
|
0.000 |
0.000 |
|
Total
Current Assets |
|
41.611 |
30.262 |
|
|
|
|
|
|
TOTAL |
|
85.289 |
36.343 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
31.03.2014 |
24.01.2013 To 31.03.2013 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
81.246 |
15.106 |
|
|
|
Other Income |
|
10.288 |
0.045 |
|
|
|
TOTAL (A) |
|
91.534 |
15.151 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL (B) |
|
75.165 |
14.115 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
|
16.369 |
1.036 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
|
5.135 |
0.097 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
|
11.234 |
0.939 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
|
1.285 |
0.135 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE TAX
(E-F) (G) |
|
9.949 |
0.804 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
|
2.070 |
0.249 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
|
7.879 |
0.555 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
Commission
received |
|
13.016 |
0.812 |
|
|
|
Other income |
|
10.052 |
0.000 |
|
|
|
TOTAL EARNINGS |
|
23.068 |
0.812 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Electricals Items |
|
23.308 |
6.744 |
|
|
TOTAL IMPORTS |
|
23.308 |
6.744 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
|
31.51 |
12.27 |
|
Expected Sales ( 2014-2015 ) : Rs.150.000 Million
The above information has been parted by Mr. Tarun Mehta.
KEY RATIOS
|
PARTICULARS |
|
|
31.03.2014 |
24.01.2013 To 31.03.2013 |
|
Net Profit Margin |
(%) |
|
9.70 |
3.67 |
|
|
|
|
|
|
|
Operating Profit Margin |
(%) |
|
20.15 |
6.86 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
|
12.09 |
2.22 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
|
0.91 |
0.26 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
|
4.23 |
6.57 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
|
1.09 |
1.39 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particular |
24.01.2013 to 31.03.2013 |
31.03.2014 |
|
|
(Rs. In Million) |
(Rs. In Million) |
|
Share Capital |
2.500 |
2.500 |
|
Reserves & Surplus |
0.555 |
8.433 |
|
Share Application money pending allotment |
0.000 |
0.000 |
|
Net worth |
3.055 |
10.933 |
|
|
|
|
|
long-term borrowings |
11.490 |
35.995 |
|
Short term borrowings |
8.576 |
10.232 |
|
Total borrowings |
20.066 |
46.227 |
|
Debt/Equity ratio |
6.568 |
4.228 |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
24.01.2013 to 31.03.2013 |
31.03.2014 |
|
|
(Rs. In Million) |
(Rs. In Million) |
|
Sales |
15.106 |
81.246 |
|
|
|
437.839 |
NET PROFIT MARGIN
|
Net Profit Margin |
24.01.2013 to 31.03.2013 |
31.03.2014 |
|
|
(Rs. In Million) |
(Rs. In Million) |
|
Sales |
15.106 |
81.246 |
|
Profit |
0.555 |
7.879 |
|
|
3.67% |
9.70% |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES
OF LONG-TERM DEBT DETAILS:
|
Particulars |
|
31.03.2014 |
31.03.2013 |
|
|
(Rs. In Million) |
||
|
Current maturities of long-term debt |
|
0.771 |
0.217
|
|
|
|
|
|
|
Total |
|
0.771 |
0.217
|
|
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
one year |
Yes |
|
12] |
Profitability for last
one year |
Yes |
|
13] |
Reasons for variation
<> 20% |
-- |
|
14] |
Estimation for coming
financial year |
Yes |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
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 |
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 |
UNSECURED LOAN
|
PARTICULARS |
31.03.2013 (Rs.
in Million) |
31.03.2013 (Rs.
in Million) |
|
Long-term
Borrowings |
|
|
|
From shareholders and directors |
11.200 |
11.200 |
|
Short-term
borrowings |
|
|
|
Loans and advance from related parties From shareholders and directors |
4.305 |
3.837 |
|
|
|
|
|
Total |
15.505 |
15.037 |
|
Note: Term loans from directors : loans taken
from directors are repayable after 3 years beginning from 31.01.2013 |
||
INDEX
OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
10536224 |
10/12/2014 |
45,000,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W |
C36756765 |
|
2 |
10469011 |
12/11/2013 |
25,616,014.00 |
INDIABULLS HOUSING FINANCE LIMITED |
M - 62 & 63, FIRST FLOOR, CONNAUGHT PLACE, NEW
DE |
B93047363 |
CORPORATE PROFILE
The company has been incorporated on 24th January 2013 as a
private company limited by share under the provision of part IX of the
companies Act 1956. Prior to part IX conversion the said operations was carried
out in the name of M/s. LightAlive (Partnership firm). The business of the company is to deal and
trade in electrical Lights and Fitting.
OPERATIONS
The total revenue of the company for the year was Rs.91.534 Million as
against Rs.15.152 Million for the previous year. The company recorded a Net
Profit of Rs.7.879 Million during the year as against Rs. 0.555 Million for
previous year.
FIXED ASSETS
Building
Plant and Machinery
Motor Vehicle
Computer
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 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.62.26 |
|
|
1 |
Rs.92.49 |
|
Euro |
1 |
Rs.66.99 |
INFORMATION DETAILS
|
Information
Gathered by : |
PPT |
|
|
|
|
Analysis don by
: |
SUM |
|
|
|
|
Report Prepared
by : |
SNT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
|
34 |
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.