MIRA INFORM REPORT
|
Report No. : |
329440 |
|
Report Date : |
01.08.2015 |
IDENTIFICATION DETAILS
|
Name : |
POLYPEPTIDE LABORATORIES PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
K-28, Additional MIDC Area, Anand Nagar, Ambernath (East), Ambernath,
Thane – 421506, Maharashtra |
|
Tel. No.: |
91-125-3981915 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
06.02.2001 |
|
|
|
|
Com. Reg. No.: |
11-130734 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.603.789 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U51397MH2001PTC130734 |
|
|
|
|
IEC No.: |
0307003256 |
|
|
|
|
TAN No.: [Tax Deduction & Collection
Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAGCP2809P |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Supplier of injectable insulins, custom peptides, generic peptides, oxytocin,
calcitonin and octreotide medicines. |
|
|
|
|
No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
B (26) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 1600000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track. Company has reported loss of Rs.15.906 million during FY 2014. As per
directors report, due to the unfavorable exchange fluctuation, the company
has incurred net loss for the year 2014. Rating takes into consideration, subjects moderate financial risk
profile marked by small cash balance and huge accumulated losses incurred by
the company. However, trade relations are fair. Business is active. Payments are
reported to be slow but correct. The company can be considered for business dealing 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.
ECGC Country Risk Classification List – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
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
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
31-03-2013.
INFORMATION DENIED BY
|
Name : |
Mr. Gajanan Patil |
|
Designation : |
Purchase and Logistics Department |
|
Contact No.: |
91-9821289977 |
|
Date : |
30.07.2015 |
LOCATIONS
|
Registered Office : |
K-28, Additional MIDC Area, Anand Nagar, Ambernath (East), Ambernath,
Thane – 421506, Maharashtra, India |
|
Tel. No.: |
91-125-3981915 / 915 |
|
Fax No.: |
Not Available |
|
E-Mail : |
DIRECTORS
AS ON 30.09.2014
|
Name : |
Ashok Dattatraya Alate |
|
Designation : |
Director |
|
Address : |
53, Atharva, Mumbai – 400088, Maharashtra, India |
|
Date of Birth/Age : |
12.04.1952 |
|
Date of Appointment : |
06.02.2001 |
|
PAN No.: |
ABSPA8487E |
|
DIN No.: |
00491315 |
|
|
|
|
Name : |
Jan Ake Froborg |
|
Designation : |
Director |
|
Address : |
Sankt Mansgatan 9B, SE-22229 Lund, Lund SE22229 |
|
Date of Birth/Age : |
06.05.1945 |
|
Date of Appointment : |
01.08.2003 |
|
DIN No.: |
02519875 |
|
|
|
|
Name : |
Lars Goran Peter Nilsson |
|
Designation : |
Director |
|
Address : |
Sodergatan 58,SE-27434, Skurup 27434 |
|
Date of Birth/Age : |
21.02.1950 |
|
Date of Appointment : |
01.04.2008 |
|
DIN No.: |
02520301 |
|
|
|
|
Name : |
Alain Scarso |
|
Designation : |
Director |
|
Address : |
Skogsmataregatan 48, 218 38 Bunkeflostrand, Bunkeflo 21838 |
|
Date of Birth/Age : |
26.06.1951 |
|
Date of Appointment : |
30.09.2011 |
|
DIN No.: |
03428279 |
|
|
|
|
Name : |
Jane Salik |
|
Designation : |
Director |
|
Address : |
25928 Richville Dr. Torrance, Torrance CA90505 |
|
Date of Birth/Age : |
08.02.1953 |
|
Date of Appointment : |
30.09.2011 |
|
DIN No.: |
03450265 |
KEY EXECUTIVES
|
Name : |
Mr. Gajanan Patil |
|
Designation : |
Purchase and Logistics Department |
MAJOR SHAREHOLDERS
AS ON 30.09.2014
|
Names of Equity Shareholders |
No. of Shares |
|
Polypeptide Laboratories B. V., Netherlands |
35761709 |
|
Ashok Alate |
1 |
|
|
|
|
Total |
35761710 |
|
Names of Preference Shareholders |
No. of Shares |
|
Polypeptide Laboratories B. V., Netherlands |
24617170 |
|
|
|
|
Total |
24617170 |
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 |
BUSINESS DETAILS
|
Line of Business : |
Supplier of injectable insulins, custom peptides, generic peptides,
oxytocin, calcitonin and octreotide medicines. |
|
|
|
|
Products : |
|
|
|
|
|
Brand Names : |
Not Divulged |
|
|
|
|
Agencies Held : |
Not Divulged |
|
|
|
|
Exports : |
Not Divulged |
|
|
|
|
Imports : |
Not Divulged |
|
|
|
|
Terms : |
|
|
Selling : |
Not Divulged |
|
|
|
|
Purchasing : |
Not Divulged |
PRODUCTION STATUS – NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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No. of Employees : |
Information declined by the management |
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Bankers : |
·
HDFC Bank Limited |
|||||||||||||||
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|
|||||||||||||||
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Facilities : |
|
|
Auditors : |
|
|
Name : |
Yogesh Sovani and Associates Chartered Accountants |
|
Address : |
1/101, Hans Apartments, Anton Francis Road, Charai, Thane, Mumbai –
400601, Maharashtra, India |
|
PAN No.: |
ACEPS2656Q |
|
|
|
|
Memberships : |
Not Divulged |
|
|
|
|
Collaborators : |
Not Divulged |
|
|
|
|
Holding Company : |
· PolyPeptide Laboratories BV- Netherlands |
|
|
|
|
Group Company : |
· PolyPeptide Laboratories Holding AB · PolyPeptide Laboratories (Sweden) AB · PolyPeptide Laboratories AS- Denmark · PolyPeptide Laboratories INC- USA · PolyPeptide Laboratories San Diago |
CAPITAL STRUCTURE
AS ON 30.09.2014
Authorised Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
40000000 |
Equity Shares |
Rs. 10/- each |
Rs.400.000 Million |
|
25000000 |
Preference Shares |
Rs. 10/- each |
Rs.250.000 Million |
|
|
|
|
|
|
|
Total |
|
Rs.650.000
Million |
Issued, Subscribed & Paid-up Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
35761710 |
Equity Shares |
Rs. 10/-
each |
Rs.357.617
Million |
|
24617170 |
Preference Shares |
Rs. 10/-
each |
Rs.246.172
Million |
|
|
|
|
|
|
|
Total |
|
Rs.603.789 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 |
603.789 |
603.789 |
603.789 |
|
(b) Reserves & Surplus |
(26.731) |
(10.825) |
(181.227) |
|
(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) |
577.058 |
592.964 |
422.562 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
924.000 |
759.000 |
744.700 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
6.362 |
1.053 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
6.196 |
4.282 |
4.276 |
|
Total Non-current
Liabilities (3) |
930.196 |
769.644 |
750.029 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
54.699 |
64.769 |
1.316 |
|
(b) Trade
payables |
18.766 |
16.658 |
22.642 |
|
(c) Other
current liabilities |
31.134 |
174.648 |
164.816 |
|
(d) Short-term
provisions |
9.303 |
21.178 |
3.401 |
|
Total Current
Liabilities (4) |
113.902 |
277.253 |
192.175 |
|
|
|
|
|
|
TOTAL |
1621.156 |
1639.861 |
1364.766 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
892.329 |
1032.716 |
1094.113 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
4.203 |
8.939 |
32.743 |
|
(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 |
3.968 |
2.772 |
2.899 |
|
(e) Other
Non-current assets |
3.197 |
0.636 |
0.230 |
|
Total Non-Current
Assets |
903.697 |
1045.063 |
1129.985 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
268.165 |
157.984 |
76.394 |
|
(c) Trade
receivables |
0.000 |
0.000 |
0.000 |
|
(d) Cash
and cash equivalents |
17.534 |
23.775 |
96.970 |
|
(e) Short-term
loans and advances |
66.532 |
53.388 |
61.417 |
|
(f) Other
current assets |
365.228 |
359.651 |
0.000 |
|
Total
Current Assets |
717.459 |
594.798 |
234.781 |
|
|
|
|
|
|
TOTAL |
1621.156 |
1639.861 |
1364.766 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
|
|
|
|
|
SALES
& OPERATING INCOME |
330.255 |
435.589 |
1.707 |
|
|
|
|
|
|
|
Less |
EXPENSES |
289.250 |
144.795 |
94.952 |
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
41.005 |
290.794 |
(93.245) |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
8.480 |
23.330 |
11.921 |
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION |
32.525 |
267.464 |
(105.166) |
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
135.278 |
91.754 |
75.596 |
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX AND EXCEPTIONAL ITEMS |
(102.753) |
175.710 |
(180.762) |
|
|
|
|
|
|
|
Add/ Less |
EXTRAORDINARY ITEMS |
(77.790) |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX AND AFTER EXCEPTIONAL ITEMS |
(24.963) |
175.710 |
(180.762) |
|
|
|
|
|
|
|
Less |
TAX |
(9.057) |
5.309 |
1.052 |
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
AFTER TAX |
(15.906) |
170.401 |
(181.814) |
|
|
|
|
|
|
|
|
EXPORTS (FOB VALUE) |
51.260 |
95.036 |
0.107 |
|
|
|
|
|
|
|
|
IMPORTS - RAW
MATERIALS |
34.478 |
96.108 |
0.159 |
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
(0.44) |
4.76 |
(5.08) |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current Maturities of Long term debt |
NA |
NA |
NA |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net cash flow from (used in) operations |
NA |
NA |
NA |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Return on Total Assets (PBT/Total Assets) |
(%) |
(1.54) |
10.77 |
(13.57) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.04) |
0.30 |
(0.43) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
1.70 |
1.39 |
1.77 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
6.30 |
2.15 |
1.22 |
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 |
603.789 |
603.789 |
603.789 |
|
Reserves & Surplus |
(181.227) |
(10.825) |
(26.731) |
|
Net
worth |
422.562 |
592.964 |
577.058 |
|
|
|
|
|
|
long-term borrowings |
744.700 |
759.000 |
924.000 |
|
Short term borrowings |
1.316 |
64.769 |
54.699 |
|
Total
borrowings |
746.016 |
823.769 |
978.699 |
|
Debt/Equity
ratio |
1.765 |
1.389 |
1.696 |
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 |
|
Sales & Operating Income |
1.707 |
435.589 |
330.255 |
|
|
|
25,417.809 |
(24.182) |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
Rs.
In Million |
Rs.
In Million |
Rs. In
Million |
|
Sales & Operating Income |
1.707 |
435.589 |
330.255 |
|
Profit |
(181.814) |
170.401 |
(15.906) |
|
|
(10651.08%) |
39.12% |
(4.82%) |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
|
1 |
Year of establishment |
Yes |
|
2 |
Constitution of the entity -Incorporation
details |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
No |
|
5 |
Buyer visit details |
-- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
Yes |
|
8 |
Designation of contact person |
yes |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
No |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
No |
|
16 |
No. of employees |
No |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
Yes |
|
22 |
Conduct of the banking account |
-- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
Yes |
|
26 |
Turnover of firm for last three years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
No |
|
32 |
Litigations that the firm/promoter
involved in |
-- |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
GENERAL REVIEW OF FINANCIAL RESULTS
The company is a contract manufacturer of M/s PolyPeptide Laboratories (Sweden) AB. As per the agreement the company sell all its products as per the instructions of the contractor. Although the sales have not yet picked up the momentum as expected, the new customer in the local market has clicked and the commercial shipments locally has been started. The ongoing projects are expected to give good results in the long terms. The company has recovered its operating costs from the contractor company as stipulated in the Contract Manufacturing Agreement. Due to the unfavorable exchange fluctuation, the company has incurred net loss for the year. It is expected that the losses on exchange rate will be reversed next year. They assure their members that in the coming years they will strive hard to have more growth to the Company.
UNSECURED LOANS:
|
Particulars |
31.03.2014 Rs. In Million |
31.03.2013 Rs. In Million |
|
Long Term Borrowings |
|
|
|
Term loans from others |
924.000 |
759.000 |
|
|
|
|
|
Total |
924.000 |
759.000 |
NO CHARGES EXIST FOR COMPANY
FIXED ASSETS:
·
Land
·
Buildings
·
Factory Buildings
·
Plant and Equipments
·
Furniture and Fixture
·
Office Equipment
·
Computer 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 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.64.01 |
|
|
1 |
Rs.99.84 |
|
Euro |
1 |
Rs.70.16 |
INFORMATION DETAILS
|
Information
Gathered by : |
SPR |
|
|
|
|
Analysis Done by
: |
SAN |
|
|
|
|
Report Prepared
by : |
NKT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILITY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
-- |
|
--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 |
|
26 |
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.