MIRA INFORM REPORT
|
Report No. : |
316629 |
|
Report Date : |
10.04.2015 |
IDENTIFICATION DETAILS
|
Name : |
SANJAY CHEMICALS (INDIA) PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Unit G-1, 5th Floor, Kanmoor House Condominium, 281/287, Narsi
Natha Street, Mumbai – 400009, Maharashtra |
|
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Tel No.: |
91-22-40361100/66312988/66313088 |
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Country : |
India |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
20.10.2000 |
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|
|
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Com. Reg. No.: |
11-129290 |
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|
|
Capital
Investment / Paid-up Capital : |
Rs. 34.835 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U51434MH2000PTC129290 |
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IEC No.: |
0301006695 |
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|
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TAN No.: [Tax Deduction &
Collection Account No.] |
MUMS27686B |
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PAN No.: [Permanent Account No.] |
AAFCS2929E |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Trading of chemicals and solvents. |
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No. of Employees
: |
70 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (49) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
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|
|
Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is established company having satisfactory track record. Profitability of the company seems to be low. However, general
financial position of the company seem to be decent. The rating also takes into consideration extensive experience of
company’s promoters in the chemical industry and its diversified revenue
profile. Trade relations are fair. Business is active. Payment terms are slow
but correct. The company can be considered for business dealing 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.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long term rating = BBB - |
|
Rating Explanation |
Have moderate degree of safety and moderate
credit risk. |
|
Date |
30.07.2014 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short term rating =A3 |
|
Rating Explanation |
Have moderate degree of safety and carry
higher credit risk |
|
Date |
30.07.2014 |
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. Suresh Nawale |
|
Designation : |
Accounts Manager |
|
Contact No.: |
91-9619019198 |
|
Date : |
09.04.2015 |
LOCATIONS
|
Registered/ Head Office : |
Unit G-1, 5th Floor, Kanmoor House Condominium, 281/ 287,
Narsi Natha Street, Mumbai – 400009, Maharashtra, India |
|
Tel. No.: |
91-22-40361100/ 66312988/ 66313088 |
|
Mobile No.: |
91-9619019198 (Mr. Suresh Nawale) |
|
Fax No.: |
91-22-23754337 |
|
E-Mail : |
scipl.mumbai@sanjaychemindia.com karan.rathod@sanjaychemindia.com
|
|
Website : |
|
|
Location : |
Owned |
|
|
|
|
Branch Office : |
1-8-206 2nd Floor Masetty Plaza P G Road, Secunderabad – 500003,
Hyderabad, Telangana, India Located At: ·
Gandhidham · Vapi |
|
|
|
|
Overseas Office : |
Sanjay Chemicals Singapore Pte. Limited 89 Short Street, #B1-11, Golden Wall Centre, Singapore 188216 |
DIRECTORS
As on 30.09.2014
|
Name : |
Mr. Dilip Vijayraj Parmar |
|
Designation : |
Managing director |
|
Address : |
Flat 507-8, 5th Floor, Matruchaya, Building 378/80, N Natha Street,
Mandavi, Mumbai - 400003, Maharashtra, India |
|
Date of Birth/Age : |
14.03.1964 |
|
Qualification : |
B.Com |
|
Date of Appointment : |
20.10.2000 |
|
PAN No.: |
AACPP6972C |
|
DIN No.: |
00867949 |
|
|
|
|
Name : |
Mr. Sanjay Vijayrajji Parmar |
|
Designation : |
Director |
|
Address : |
Ooranwala Mansion, 1st Floor, Dr. Ambedkar Marg,
Parel, Mumbai – 400012, Maharashtra, India |
|
Date of Birth/Age : |
08.01.1974 |
|
Qualification : |
BA |
|
Date of Appointment : |
20.10.2000 |
|
PAN No.: |
AADPP7910K |
|
DIN No.: |
00478460 |
|
|
|
|
Name : |
Mr. Manoj Vijayraj Parmar |
|
Designation : |
Director |
|
Address : |
Ooranwala Mansion, 1st Floor, Dr. Ambedkar Marg, Parel, Mumbai –
400012, Maharashtra, India |
|
Date of Birth/Age : |
14.03.1968 |
|
Qualification : |
BSC |
|
Date of Appointment : |
20.10.2000 |
|
PAN No.: |
AADPP7905Q |
|
DIN No.: |
02452281 |
|
|
|
|
Name : |
Mr. Vijayraj Multanmal Parmar |
|
Designation : |
Director |
|
Address : |
Ooranwala Mansion, 1st Floor, Dr. Ambedkar Marg, Parel, Mumbai –
400012, Maharashtra, India |
|
Date of Birth/Age : |
13.03.1944 |
|
Qualification : |
SSC |
|
Date of Appointment : |
20.10.2000 |
|
PAN No.: |
AACPP6971B |
|
DIN No.: |
02452291 |
KEY EXECUTIVES
|
Name : |
Mr. Suresh Nawale |
|
Designation : |
Accounts Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2014
SHREHOLDERS DETAILS FILE ATTACHED
As on 30.09.2014
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
Bodies corporate |
33.59 |
|
Directors or relatives of Directors |
66.41 |
|
Total |
100.00 |
%20PRIVATE%20LIMITED%20-%20316629_MIRA%2010-Apr-2015_files/image010.gif)
BUSINESS DETAILS
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Line of Business : |
Trading of chemicals and solvents |
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Products : |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
Not Available |
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Imports : |
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Products : |
Chemicals |
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Countries : |
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Terms : |
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Selling : |
Cash and Credit (30/60/90 Days) |
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Purchasing : |
Cash and Credit (30/60/90 Days) |
PRODUCTION STATUS: NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
70 (Approximately) |
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Bankers : |
·
Oriental Bank of Commerce, Branch – Nariman
Point, Mumbai, Maharashtra, India ·
Citi Bank, Mumbai, Maharashtra, India ·
ICICI Bank Limited, Church gate, Mumbai,
Maharashtra, India ·
Union Bank of India, Masjid Bunder, Mumbai,
Maharashtra, India |
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Facilities : |
(Rs.
In Million)
|
|
Auditors : |
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|
Name : |
MGB and Company Chartered Accountants |
|
Address : |
101-A, Jolly Bhavan No 2, Opposite Nirmala Niketan, 7, New Marine Lines, Churchgate, Mumbai - 400020, Maharashtra, India |
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Income-tax
PAN of auditor or auditor's firm : |
AAAFM5742R |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Related Parties : |
· Scorpio Exim Private Limited CIN No.: U52321MH2005PTC158479 · Zany Share Trading Private Limited CIN No.: U67120MH2006PTC159576 |
CAPITAL STRUCTURE
As on 30.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3,550,000 |
Equity Shares |
Rs.10/- each |
Rs. 35.500 Million |
|
45,000 |
Preference Shares |
Rs. 100/- each |
Rs. 4.500 Million |
|
|
|
|
|
|
|
Total |
|
Rs. 40.000
Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3,209,414 |
Equity Shares |
Rs.10/- each |
Rs. 32.094 Million |
|
27,407 |
Preference Shares |
Rs. 100/- each |
Rs. 2.741 Million |
|
|
|
|
|
|
|
Total |
|
Rs. 34.835
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 |
34.835 |
31.978 |
29.578 |
|
(b) Reserves & Surplus |
749.462 |
635.757 |
543.436 |
|
(c) Money received against
share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
784.297 |
667.735 |
573.014 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.566 |
1.460 |
0.000 |
|
(b) Deferred tax liabilities
(Net) |
0.000 |
0.316 |
0.429 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
2.405 |
0.000 |
0.000 |
|
Total
Non-current Liabilities (3) |
2.971 |
1.776 |
0.429 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
239.956 |
208.143 |
62.765 |
|
(b) Trade payables |
2037.307 |
2025.773 |
1575.371 |
|
(c) Other current liabilities |
100.609 |
95.072 |
58.623 |
|
(d) Short-term provisions |
1.396 |
0.000 |
0.000 |
|
Total
Current Liabilities (4) |
2379.268 |
2328.988 |
1696.759 |
|
|
|
|
|
|
TOTAL |
3166.536 |
2998.499 |
2270.202 |
|
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|
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II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
10.842 |
12.244 |
5.108 |
|
(ii) Intangible Assets |
0.119 |
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 |
4.105 |
4.105 |
0.000 |
|
(c) Deferred tax assets (net) |
1.039 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
5.171 |
7.563 |
9.101 |
|
(e) Other Non-current assets |
11.361 |
1.785 |
7.890 |
|
Total
Non-Current Assets |
32.637 |
25.697 |
22.099 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
1.000 |
1.000 |
0.000 |
|
(b) Inventories |
656.144 |
592.458 |
434.306 |
|
(c) Trade receivables |
1960.927 |
1836.017 |
1372.691 |
|
(d) Cash and cash equivalents |
207.675 |
315.556 |
374.322 |
|
(e) Short-term loans and
advances |
298.966 |
222.391 |
36.551 |
|
(f) Other current assets |
9.187 |
5.380 |
30.233 |
|
Total
Current Assets |
3133.899 |
2972.802 |
2248.103 |
|
|
|
|
|
|
TOTAL |
3166.536 |
2998.499 |
2270.202 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Income |
|
5895.529 |
5467.279 |
|
|
Other Income |
|
NA |
NA |
|
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TOTAL
|
|
NA |
NA |
|
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EXPENSES |
|
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|
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|
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TOTAL
|
NA |
NA |
NA |
|
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|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
|
53.297 |
21.975 |
|
|
|
|
|
|
|
|
DEPRECIATION/
AMORTISATION |
|
2.042 |
0.823 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
|
512.546 |
211.515 |
|
|
|
|
|
|
|
|
CURRENT
TAX |
|
17.000 |
7.500 |
|
|
|
|
|
|
|
|
DEFERRED
TAX |
|
(0.113) |
(0.012) |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
46.562 |
34.720 |
13.663 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
15.23 |
-- |
-- |
%20PRIVATE%20LIMITED%20-%20316629_MIRA%2010-Apr-2015_files/image003.gif){kind=small}
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT/Sales) |
(%) |
NA |
0.59 |
0.25 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.00 |
17.12 |
9.32 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.00 |
0.77 |
0.37 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.31 |
0.31 |
0.11 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.32 |
1.28 |
1.32 |
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 |
29.578 |
31.978 |
34.835 |
|
Reserves & Surplus |
543.436 |
635.757 |
749.462 |
|
Net
worth |
573.014 |
667.735 |
784.297 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
1.460 |
0.566 |
|
Short term borrowings |
62.765 |
208.143 |
239.956 |
|
Total
borrowings |
62.765 |
209.603 |
240.522 |
|
Debt/Equity
ratio |
0.110 |
0.314 |
0.307 |
%20PRIVATE%20LIMITED%20-%20316629_MIRA%2010-Apr-2015_files/image012.gif)
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES
OF LONG TERM DEBT
|
Particular |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current
maturities of long-term debt |
0.894 |
0.805 |
0.000 |
|
Total |
0.894 |
0.805 |
0.000 |
|
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 |
Yes |
|
33] |
Voter ID No of Proprietor/Partner/Director,
if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
Note:
Registered office of the company has been Shifted 507
Matruchhaya Building, 378/80 Narsi Natha Street, Mumbai - 400009, Maharashtra, India
to the present address w.e.f. 01.08.2012
(Rs.
In Million)
|
UNSECURED LOAN |
As
on 31.03.2014 |
As
on 31.03.2013 |
|
Short Term
Borrowing |
|
|
|
Intercorporate borrowings |
100.719 |
98.872 |
|
Loans and advances from others |
47.571 |
53.919 |
|
Other loans and advances |
2.074 |
0.000 |
|
Total |
150.364 |
152.791 |
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10211615 |
29/12/2014 * |
1,845,200,000.00 |
DCB BANK LIMITED |
601 & 602, Peninsula Business Park, 6th floor, Tower A, Senapati
Bapat Marg, Lower Parel,, Mumbai, Maharashtra - 400013, INDIA |
C38106738 |
|
2 |
10011568 |
20/07/2006 |
20,000,000.00 |
DCB BANK LIMITED |
601 & 602, Peninsula Business Park, 6th floor,, Tower A, Senapati
Bapat Marg, Lower Parel,, Mumbai, Maharashtra - 400013, INDIA |
A02813061 |
|
3 |
10006652 |
18/05/2006 |
15,000,000.00 |
DCB BANK LIMITED |
601 & 602, Peninsula Business Park, 6th floor,, Tower A, Senapati
Bapat Marg, Lower Parel,, Mumbai, Maharashtra - 400013, INDIA |
A01234475 |
|
4 |
90143730 |
21/01/2002 |
1,500,000.00 |
DEVELOPMENT CREDIT BANK LTD |
MOHAMEDALI ROAD BRANCH, BOMBAY, Manipur - 400001, INDIA |
- |
|
5 |
90143378 |
20/03/2009 * |
421,000,000.00 |
DEVELOPMENT CREDIT BANK LIMITED |
301, TRADE PLAZA,, 414, VEER SAVARKAR MARG, PRABHADEVI,, MUMBAI,
Maharashtra - 400025, INDIA |
A58995044 |
* Date of charge modification
FIXED ASSETS
Tangible Assets
· Buildings
· Furniture and Fixtures
· Vehicles
· Motor Vehicles
· Office Equipment
· Computer Equipments
· Other Equipments
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.62.25 |
|
|
1 |
Rs.92.49 |
|
Euro |
1 |
Rs.66.99 |
INFORMATION DETAILS
|
Information
Gathered by : |
PRP |
|
|
|
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
JYTK |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILITY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--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 |
|
49 |
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.