MIRA INFORM REPORT
|
Report No. : |
318492 |
|
Report Date : |
22.04.2015 |
IDENTIFICATION DETAILS
|
Name : |
AMPACET SPECIALITY PRODUCTS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
D-276, D-277 and D-283, Ranjangaon Industrial Area, Karegaon, Shirur,
Pune – 412220, Maharashtra |
|
Tel No.: |
91-213-611999 |
|
|
|
|
Country : |
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|
|
|
|
Financials (as
on) : |
31.03.2014 |
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|
|
Date of
Incorporation : |
10.03.2010 |
|
|
|
|
Com. Reg. No.: |
11-143078 (NEW) 11-200706 (OLD) |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 547.269 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U25209PN2010FTC143078 (NEW) U25209MH2010FTC200706 (OLD) |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMA36916F |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAICA2806P |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
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|
|
|
Line of Business
: |
Subject is engaged in the trading, manufacture and sale of Plastic master batches and Color Concentrates. |
|
|
|
|
No. of Employees
: |
80 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (28) |
|
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 |
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|
|
Litigation : |
Clear |
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|
|
Comments : |
Subject is a subsidiary of Ampacet Cyprus Limited. It is an established company having moderate track record. The company has incurred some accumulated losses. However, trade relations are reported as fair. Business is active.
Payments terms are reported to be slow but correct. The company can be considered for business dealings with some 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. Sachin Khabale |
|
Designation : |
Account Department |
|
Contact No.: |
91-2138-611999 |
|
Date : |
20.04.2015 |
LOCATIONS
|
Registered Office / Factory : |
D-276, D-277 and D-283, Ranjangaon Industrial Area, Karegaon, Shirur,
Pune – 412220, Maharashtra, India |
|
Tel. No.: |
91-2138-611999 |
|
Fax No.: |
91-2138-674301 |
|
E-Mail : |
|
|
Website : |
|
|
Location: |
Owned |
|
|
|
|
Branch Office : |
408, B Wing, Everest Chambers, |
|
Tel. No.: |
91-22-66779933 |
|
Fax No.: |
91-22-28562266 |
|
|
|
|
Overseas Office : |
Located at
|
DIRECTORS
As on 30.09.2014
|
Name : |
Mr. Wipawadee Paopaka |
|
Designation : |
Director |
|
Address : |
119/29-30, |
|
Date of Birth/Age : |
17.11.1976 |
|
Date of Appointment : |
10.03.2010 |
|
DIN No.: |
02856750 |
|
|
|
|
Name : |
Mr. Udomsri Sakdiarpa |
|
Designation : |
Director |
|
Address : |
479/46, Moo 12, |
|
Date of Birth/Age : |
14.05.1967 |
|
Date of Appointment : |
10.03.2010 |
|
DIN No.: |
02856919 |
|
|
|
|
Name : |
Mr. Yves Achille Jacques Carette |
|
Designation : |
Director |
|
Address : |
Lot No. 7, Burapha Golf, 281 Moo 4, Tambon Bung, Sriracha,
Chonburi-20110 |
|
Date of Birth/Age : |
03.11.1954 |
|
Date of Appointment : |
10.03.2010 |
|
DIN No.: |
02881789 |
|
|
|
|
Name : |
Rudi Raymond Joseph Scheman |
|
Designation : |
Additional Director |
|
Address : |
64/19, Moo4, Pluakdaeng, |
|
Date of Birth/Age : |
22.09.1964 |
|
Date of Appointment : |
21.05.2010 |
|
DIN No.: |
03072306 |
|
|
|
|
Name : |
Amnon Kones |
|
Designation : |
Additional director |
|
Address : |
14975 24 Ave, |
|
Date of Birth/Age : |
07.09.1956 |
|
Date of Appointment : |
21.05.2010 |
|
DIN No.: |
03075440 |
|
|
|
|
Name : |
Mr. Alwin Godfrey Salins |
|
Designation : |
Additional director |
|
Address : |
Flat No. B-2-201, Yellow Blossom SNO 50 B T, |
|
Date of Birth/Age : |
16.10.1969 |
|
Date of Appointment : |
30.09.2013 |
|
PAN No.: |
AIWPS0546F |
|
DIN No.: |
03213774 |
|
|
|
|
Name : |
Kamton Sa Nguanpruk |
|
Designation : |
Additional director |
|
Address : |
2/245 Sukhumvit 42 Alley, Prakanong Sub-District, Klongtoey District.
Bangkok, 10110, Thailand |
|
Date of Birth/Age : |
29.10.1971 |
|
Date of Appointment : |
30.09.2013 |
|
DIN No.: |
05209811 |
|
|
|
|
Name : |
Mr. Dnyaneshwar Bhagwantrao Kawade |
|
Designation : |
Director |
|
Address : |
Dwarka Sun Crest Apts Flat 202, Rahatni Road. Pimple Saudagar
Pune:411027, India |
|
Date of Birth/Age : |
09.02.1971 |
|
Date of Appointment : |
29.09.2012 |
|
DIN No.: |
06393196 |
|
|
|
|
Name : |
Mr. Santosh Dinkarrao Choudhari |
|
Designation : |
Director |
|
Address : |
Green Groves Garcinia, A 3/103, Behind Moze College Nagar Road,
Wagholi, Pune – 412207, Maharashtra, India |
|
Date of Birth/Age : |
20.03.1968 |
|
Date of Appointment : |
30.09.2013 |
|
DIN No.: |
06646284 |
KEY EXECUTIVES
|
Name : |
Mrs. Memangi Deepak Bhatt |
|
Designation : |
Secretary |
|
Address : |
C-210, Shanti Kishan Building – 2, V.S Road, Maratha Colony, Dahisar
Road (East), Mumbai – 400068, Maharashtra, India |
|
Date of Birth/Age : |
30.01.1983 |
|
Date of Appointment : |
01.01.2013 |
|
PAN No.: |
AMJPB2559C |
|
|
|
|
Name : |
Mr. Sachin Khabale |
|
Designation : |
Account Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2014
|
Names of Shareholders |
|
No. of Shares |
|
Ampacet Cyprus Limited, Thailand |
|
40639032 |
|
Ampacet Investment II S.a.r.l. |
|
1 |
|
Ampacet Europe, SA |
|
14087897 |
|
Total |
|
54726930 |
Equity Share Break up (Percentage of Total Equity)
As on 30.09.2014
|
Category |
Percentage |
|
Foreign holdings( Foreign institutional investor(s),
Foreign companie(s) Foreign financial institution(s), Non-resident Indian(s)
or Overseas Corporate bodies or Others |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in the trading, manufacture and sale of
Plastic master batches and Color Concentrates. |
|
|
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Products : |
|
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|
|
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Brand Names : |
Not Divulged |
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|
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Agencies Held : |
Not Divulged |
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Exports : |
|
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Products : |
Plastic master batches and Color Concentrates. |
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Countries : |
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Imports : |
|
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Products : |
Raw Material |
|
Countries : |
Europe |
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Terms : |
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Selling : |
Cheque and Credit |
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Purchasing : |
Cheque and Credit |
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
Wholesalers, Retailers and Manufacturer
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No. of Employees : |
80 (Approximately) |
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Bankers : |
|
|
Auditors : |
|
|
Name : |
Walker Chandiok and Company Chartered Accountants |
|
Address : |
16Th Floor, Tower IiIndiabulls Finance Centre, Sb Marg, Elphiston (West), Mumbai, Maharashtra, India |
|
PAN N Income-tax PAN of auditor or auditor's firm : |
AAAFW4298E |
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|
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Memberships : |
Not Divulged |
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Collaborators : |
Not Divulged |
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Holding company: |
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Ultimate Holding
company: |
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Associate: |
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CAPITAL STRUCTURE
As on 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
70000000 |
Equity Shares |
Rs.10/- each |
Rs. 700.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
54726930 |
Equity Shares |
Rs.10/- each |
Rs. 547.269
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 |
547.269 |
180.023 |
180.023 |
|
(b) Reserves & Surplus |
(5.327) |
(155.921) |
(87.443) |
|
(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) |
541.942 |
24.102 |
92.580 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
385.346 |
619.914 |
569.475 |
|
(b) Deferred tax liabilities
(Net) |
0.000 |
0.000 |
20.683 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
1.263 |
0.000 |
0.790 |
|
Total
Non-current Liabilities (3) |
386.609 |
619.914 |
590.948 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade payables |
971.099 |
639.349 |
485.073 |
|
(c) Other current liabilities |
5.369 |
56.091 |
33.102 |
|
(d) Short-term provisions |
2.553 |
2.917 |
2.425 |
|
Total
Current Liabilities (4) |
979.021 |
698.357 |
520.600 |
|
|
|
|
|
|
TOTAL |
1907.572 |
1342.373 |
1204.128 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
379.303 |
365.895 |
391.550 |
|
(ii) Intangible Assets |
0.000 |
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 |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
173.499 |
110.222 |
88.293 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
552.802 |
476.117 |
479.843 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
575.279 |
303.359 |
407.049 |
|
(c) Trade receivables |
633.880 |
460.807 |
260.492 |
|
(d) Cash and cash equivalents |
59.451 |
66.440 |
46.264 |
|
(e) Short-term loans and
advances |
85.465 |
35.224 |
7.404 |
|
(f) Other current assets |
0.695 |
0.426 |
3.076 |
|
Total
Current Assets |
1354.770 |
866.256 |
724.285 |
|
|
|
|
|
|
TOTAL |
1907.572 |
1342.373 |
1204.128 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Income |
|
|
|
|
|
Other Income |
|
|
|
|
|
TOTAL
|
1931.911 |
1270.297 |
471.863 |
|
|
|
|
|
|
|
Less |
EXPENSES |
(Including
Financial Expenses and Depreciation) |
1359.458
|
541.871 |
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
|
|
(70.008) |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
|
|
15.730 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
|
|
(85.738) |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION |
|
|
32.216 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
(37.803) |
(89.161) |
(117.954) |
|
|
|
|
|
|
|
Less |
TAX |
0.000 |
(20.683) |
33.558 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
(37.803) |
(68.478) |
(151.512) |
|
|
|
|
|
|
|
|
EARNINGS
IN FOREIGN CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
509.376 |
138.700 |
41.235 |
|
|
TOTAL
EARNINGS |
509.376 |
138.700 |
41.235 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
(0.69) |
(3.80) |
(8.42) |
Expected Sales (2014-2015) : Rs.2000.000 Million
The above information has been parted by Mr. Sachin Khabale
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(1.98) |
(6.64) |
(9.80) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.07) |
(3.70) |
(1.27) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.71 |
25.72 |
6.15 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.38 |
1.24 |
1.39 |
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 |
180.023 |
180.023 |
547.269 |
|
Reserves & Surplus |
(87.443) |
(155.921) |
(5.327) |
|
Net
worth |
92.580 |
24.102 |
541.942 |
|
|
|
|
|
|
long-term borrowings |
569.475 |
619.914 |
385.346 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Total
borrowings |
569.475 |
619.914 |
385.346 |
|
Debt/Equity
ratio |
6.151 |
25.720 |
0.711 |
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) |
|
Total Income |
471.863 |
1270.297 |
1931.911 |
|
|
|
169.209 |
52.083 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Total Income |
471.863 |
1270.297 |
1931.911 |
|
Profit |
(151.512) |
(68.478) |
(37.803) |
|
|
(32.11%) |
(5.39%) |
(1.96%) |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES
OF LONG-TERM DEBT DETAILS: NOT
AVAILABLE
|
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 |
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 |
No |
|
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 |
NOTE: NO CHARGES EXIST FOR THE COMPANY
BACKGROUND AND
PRINCIPAL ACTIVITIES
Subject was incorporated as a private limited company on 10 March 2010 under the Companies Act, 1956 and is a subsidiary of Ampacet Cyprus Limited, Cyprus (the ‘holding company’). The Company is engaged in the trading, manufacture and sale of Plastic master batches and Color Concentrates.
UNSECURED LOAN
|
PARTICULARS |
31.03.2014 (Rs.
in Million) |
31.03.2013 (Rs.
in Million) |
|
Long-term
Borrowings |
|
|
|
Fully convertible debentures banks |
0.000 |
272.195 |
|
Other loans and advances, others |
385.345 |
347.719 |
|
Total |
385.345 |
619.914 |
FIXED ASSETS
Tangible assets
- Land
- Buildings
- Plant and equipment
- Furniture and fixtures
- Vehicles
- Office equipment
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 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.62.92 |
|
|
1 |
Rs.93.57 |
|
Euro |
1 |
Rs.67.34 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
KVT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
2 |
|
--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 |
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 |
|
28 |
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.