MIRA INFORM REPORT
|
Report No. : |
318122 |
|
Report Date : |
20.04.2015 |
IDENTIFICATION DETAILS
|
Name : |
KRISHI RASAYAN EXPORTS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
234/3A, AJC Bose Road, Room No A 11 4th Floor, Kolkata –
700020, West Bengal |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
09.10.1995 |
|
|
|
|
Com. Reg. No.: |
21-074696 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.27.000 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24219WB1995PTC074696 |
|
|
|
|
IEC No.: |
Not Available |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
CALK02018C |
|
|
|
|
PAN No.: [Permanent Account No.] |
AACCK4124G |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Agrochemicals. |
|
|
|
|
No. of Employees
: |
Not Divulged |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 8120000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
The subject is a part of the Krishi Rasayan Group. The group in involved in Agrochemicals, Biotechnology, IT
Infrastructure, Solid Waste Management, Inland Transport, Poultry Feed, Pest
Control and Real Estate, R and D, contract Research and Data Generation. The
company is engaged in manufacturing of Pesticides. It is an established company having a satisfactory track record. The company has reported an increase in its sales turnover and
profitability during the financial year 2013-14. The company possesses adequate financial risk-profile, marked by
strong net worth and sufficient debt-protection measures. Trade relations are fair. Business is active. Payments are reported to
be regular and as per commitment. The company can be considered 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 |
CRISIL |
|
Rating |
Long term rating A- |
|
Rating Explanation |
Adequate degree of safety and low credit risk. |
|
Date |
April 2015 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short term rating A2+ |
|
Rating Explanation |
Strong degree of safety and low credit risk. |
|
Date |
April 2015 |
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 DENIED
MANAGEMENT NON CO-OPERATIVE (91-33-71081010)
LOCATIONS
|
Registered Office : |
234/3A, AJC Bose Road, Room No A 11 4th Floor, Kolkata –
700020, West Bengal, India |
|
Tel. No. : |
91-33-22839454 |
|
Fax No. : |
91-33-22871436 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Corporate Office : |
1115, Hemkunt (Modi) Tower, 98, |
|
Tel. No. : |
91-11-30885555 / 6 / 7 |
|
Fax No. : |
91-11-30885559 |
|
|
|
|
Factory 1 : |
1st |
|
Tel. No.: |
91-923-243061 / 2433661 |
|
Area : |
30000 sq. ft. |
|
Location : |
Leased |
|
|
|
|
Factory 2 : |
Plot No.170, Industrial Estate, Baddi, |
|
Area : |
35000 sq. ft. |
|
Location : |
Leased |
|
|
|
|
Factory 3 : |
820/803, The Corporate Centre, Nirmal Lifestyle, L.B.S. Marg. Mulund
(West), Mumbai – 400 080, |
|
Tel. No.: |
91-22-2592-4782 |
|
Fax No.: |
91-22-2592-4781 |
|
|
|
|
Factory 4 : |
Bela Industrial Estate, Mujaffarpur – 843 116, |
|
Tel. No.: |
91-621-2276249 |
|
Fax No.: |
91-621-2274581 |
|
|
|
|
Factory 5 : |
At Maitappuur, P.O. Ranital, District Balasore – 756 111, |
|
Tel. No.: |
91-6784-265984 / 094370-602861 |
|
Fax No.: |
91-6784-265995 |
|
|
|
|
Factory 6 : |
Solid Waste Management Projects, Belia Panda, Puri – 752
001, |
|
Tel. No.: |
91-6752-231370 / 093385-445891 |
|
Fax No.: |
91-6752-233988 |
|
|
|
|
Branch Office : |
Located
at: v
v
v
Haryana – Sirsa v
|
DIRECTORS
As on 25.09.2014
|
Name : |
Mr. Atul Churiwal |
|
Designation : |
Managing Director |
|
Address : |
4, |
|
Date of Birth/Age : |
23.12.1963 |
|
Qualification : |
BSC Agricultural |
|
PAN No.: |
ADKPC2492H |
|
Date of Appointment : |
09.10.1995 |
|
DIN No.: |
00180595 |
|
|
|
|
Name : |
Mr. Rajesh Kumar Agarwal |
|
Designation : |
Whole Time Director |
|
Address : |
S-171, Greater Kailash II, |
|
Date of Birth/Age : |
28.09.1969 |
|
Qualification : |
BE., Agricultural |
|
PAN No.: |
ACKPA0924D |
|
Date of Appointment : |
12.08.1997 |
|
DIN No.: |
00210719 |
|
|
|
|
Name : |
Mr. Atmaram Sonthalia |
|
Designation : |
Director |
|
Address : |
DA/73, |
|
Date of Birth/Age : |
23.09.1934 |
|
Date of Appointment : |
06.09.2002 |
|
DIN No.: |
00004611 |
|
|
|
|
Name : |
Mr. Bimal Kumar |
|
Designation : |
Director |
|
Address : |
Mithanpura, Muzaffarpur – 842 001, |
|
Date of Birth/Age : |
17.07.1956 |
|
Qualification : |
B. Com |
|
PAN No.; |
AKVPK4445J |
|
Date of Appointment : |
06.09.2002 |
|
DIN No.: |
00434470 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 25.09.2014
|
Names of Shareholders |
No. of Shares |
%age |
|
Atul Churiwal |
264000 |
9.78 |
|
Sangita Churiwal |
720000 |
26.67 |
|
Lakhpat Rai Agarwala |
225000 |
8.33 |
|
Sushil Kumar Agarwal |
438750 |
16.25 |
|
Rajesh Kumar Agarwal |
429000 |
15.89 |
|
Savitri Devi Agarwal |
112500 |
4.17 |
|
K.C. Jain |
6000 |
0.22 |
|
Vandan Churiwal |
495000 |
18.33 |
|
Ritu Agarwal |
9750 |
0.36 |
|
|
|
|
|
Total |
2700000 |
100.00 |
As on 25.09.2014
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
Directors or relatives of Directors |
99.30 |
|
Other top fifty shareholders |
0.70 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Agrochemicals. |
|
|
|
|
Products : |
Not Available |
|
|
|
|
Brand Names : |
Not Available |
|
|
|
|
Agencies Held : |
Not Available |
|
|
|
|
Exports : |
Not Divulged |
|
|
|
|
Imports : |
Not Divulged |
|
|
|
|
Terms : |
Not Divulged |
PRODUCTION STATUS –
NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
|
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Customers : |
|
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
No. of Employees : |
Not Divulged |
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Bankers : |
|
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Facilities : |
|
|
Financial Institution : |
3i
Infotech Trusteeship Services Limited, 3rd to 6th floor, International Infotech
Park, Tower No.5, Vashi Railway Station Complex, Vashi, Navi Mumbai - 400703,
Maharashtra, INDIA |
|
|
|
|
Auditors : |
|
|
Name : |
Bharat D Sarawgee and Company Chartered Accountants |
|
PAN
No. : |
AAIFB3201C |
|
|
|
|
Memberships : |
-- |
|
|
|
|
Collaborators : |
-- |
|
|
|
|
Subsidiary Company
: |
Truly Pest Solution Private Limited |
|
|
|
|
Other Related Party : |
|
CAPITAL STRUCTURE
As on 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3000000 |
Equity Shares |
Rs.10/- each |
Rs.30.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2700000 |
Equity Shares |
Rs.10/- each |
Rs.27.000 Million |
|
|
|
|
|
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 |
27.000 |
27.000 |
27.000 |
|
(b) Reserves & Surplus |
2815.327 |
2491.376 |
2187.704 |
|
(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) |
2842.327 |
2518.376 |
2214.704 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
4.438 |
6.981 |
7.190 |
|
(b) Deferred tax liabilities (Net) |
17.953 |
14.681 |
3.459 |
|
(c) Other long term
liabilities |
37.480 |
31.033 |
32.004 |
|
(d) long-term
provisions |
4.784 |
4.325 |
3.908 |
|
Total Non-current
Liabilities (3) |
64.655 |
57.020 |
46.561 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
2320.851 |
1784.240 |
1732.632 |
|
(b) Trade
payables |
477.011 |
290.345 |
260.522 |
|
(c) Other
current liabilities |
211.591 |
82.081 |
94.602 |
|
(d) Short-term
provisions |
2.015 |
1.236 |
15.052 |
|
Total Current
Liabilities (4) |
3011.468 |
2157.902 |
2102.808 |
|
|
|
|
|
|
TOTAL |
5918.450 |
4733.298 |
4364.073 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i) Tangible
assets |
408.862 |
394.523 |
217.416 |
|
(ii)
Intangible Assets |
5.721 |
3.432 |
4.336 |
|
(iii)
Capital work-in-progress |
23.951 |
0.783 |
111.769 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
10.287 |
25.257 |
16.433 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
452.876 |
402.283 |
331.832 |
|
(e) Other
Non-current assets |
0.000 |
8.273 |
28.296 |
|
Total Non-Current
Assets |
901.697 |
834.551 |
710.082 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
1686.825 |
988.356 |
1326.905 |
|
(c) Trade
receivables |
2072.660 |
1736.242 |
1622.738 |
|
(d) Cash
and cash equivalents |
156.819 |
355.390 |
118.198 |
|
(e)
Short-term loans and advances |
1063.582 |
759.323 |
538.558 |
|
(f) Other
current assets |
36.867 |
59.436 |
47.592 |
|
Total
Current Assets |
5016.753 |
3898.747 |
3653.991 |
|
|
|
|
|
|
TOTAL |
5918.450 |
4733.298 |
4364.073 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
TOTAL |
8467.690 |
7701.008 |
6012.284 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
8162.346 |
7393.955 |
5637.088 |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
305.344 |
307.053 |
375.196 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
83.920 |
96.257 |
95.567 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
221.424 |
210.796 |
279.629 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
82.01 |
78.07 |
103.57 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Return on Total Assets (PBT/Total Assets} |
(%) |
5.19 |
6.52 |
8.86 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.11 |
0.12 |
0.17 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.82 |
0.71 |
0.79 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.67 |
1.81 |
1.74 |
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 |
27.000 |
27.000 |
27.000 |
|
Reserves & Surplus |
2187.704 |
2491.376 |
2815.327 |
|
Net worth |
2214.704 |
2518.376 |
2842.327 |
|
|
|
|
|
|
long-term borrowings |
7.190 |
6.981 |
4.438 |
|
Short term borrowings |
1732.632 |
1784.240 |
2320.851 |
|
Total borrowings |
1739.822 |
1791.221 |
2325.289 |
|
Debt/Equity ratio |
0.786 |
0.711 |
0.818 |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Millions) |
(Rs. In Millions) |
(Rs. In Millions) |
|
Total Income |
6012.284 |
7701.008 |
8467.690 |
|
|
|
28.088 |
9.956 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Millions) |
(Rs. In Millions) |
(Rs. In Millions) |
|
Total Income |
6012.284 |
7701.008 |
8467.690 |
|
Profit |
279.629 |
210.796 |
221.424 |
|
|
4.65% |
2.74% |
2.61% |
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 |
No |
|
9] |
Name of person contacted |
No |
|
10] |
Designation of contact
person |
No |
|
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 |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details
(if applicable) |
No |
|
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 |
PERFORMANCE OF THE COMPANY
The overall
performance of the Company has improved further during the financial year
2013-14. The total turnover has reached 8467.690 Million as against 7701.007
million in the previous year, thus achieving a growth of more than 10%. The
Company has achieved Profit before Tax of 305.344 million as against 307.053
million during the financial year 2013-14. Last year the Country saw one of the
worst droughts effecting agricultural production in a big way. This brought
great strain in the working margin of the Company Though we managed to increase
the Sale, the realization went down due to excess availability, thereby
affecting the profits of the Company.
EXPANSION AND MODERNISATION
The
company has successfully commissioned formulation plant at Panoli Gujarat. This
is one of the most modern and one of the largest formulation plant in India.
The production has contributed significantly to the turnover. The operation at
Muzzaffarpur plant suffered due to the flood and the overall production saw a
decline from last year. The company has been availing deduction u/s 80IB for
the plant situated at Samba, the F.Y 13-14 was the 10 th year and there will be
no such deduction available from the next Financial Year .
FIXED ASSETS
- Land
- Buildings
- Plant and Equipment
- Furniture and Fixtures
- Vehicles
- Office Equipment
- Computer 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.62.35 |
|
|
1 |
Rs.93.05 |
|
Euro |
1 |
Rs.67.13 |
INFORMATION DETAILS
|
Information
Gathered by : |
PRT |
|
|
|
|
Analysis Done by
: |
SUC |
|
|
|
|
Report Prepared
by : |
ANK |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
-- PROFITABILITY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
54 |
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.