MIRA INFORM REPORT
|
Report No. : |
336900 |
|
Report Date : |
14.08.2015 |
IDENTIFICATION DETAILS
|
Name : |
PRIYANKA COMMUNICATIONS INDIA PRIVATE LIMITED (w.e.f. 26.03.2004) |
|
|
|
|
Formerly Known
As : |
MANISH ENGINEERING CONSTRUCTIONS PRIVATE LIMITED |
|
|
|
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Registered
Office : |
143, Oshiwara Inddustrial Centre, Opposite Oshiwara Bus Depot, Goregaon (West), Mumbai
- 400104, |
|
Tel. No.: |
91-22-66780500 |
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|
|
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Country : |
India |
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|
|
Financials (as
on) : |
31.03.2015 (Provisional) |
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|
|
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Date of
Incorporation : |
13.09.1995 |
|
|
|
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Com. Reg. No.: |
11-092649 |
|
|
|
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Capital
Investment / Paid-up Capital : |
Rs. 14.200 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U45200MH1995PTC092649 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMM14654D / MUMP19174B |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCM4898C |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
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|
|
Line of Business
: |
Trader of Computer, Computer Peripherals and Mobile Phones. |
|
|
|
|
No. of Employees
: |
50 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (43) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
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|
|
|
Litigation : |
Clear |
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|
Comments : |
Subject is an established company having satisfactory track record. For the financial year ended 2014, sales turnover of the company has
declined during a year under a review. However, rating takes into consideration established market position in
the mobile phones and electronic products trading business supported by
diversified revenue profile along with sound financial base and above average
debt protection metrics of the company. Trade relations are fair. Business is active. Payments are reported to
be usually correct. In view of aforesaid, 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.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long term rating : BBB- |
|
Rating Explanation |
Moderate degree of safety and moderate credit risk. |
|
Date |
26.06.2015 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short term rating : A3 |
|
Rating Explanation |
Moderate degree of safety and higher credit risk. |
|
Date |
26.06.2015 |
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
31-03-2013.
INFORMATION PARTED BY
|
Name : |
Ms. Anuradha Das |
|
Designation : |
Chartered Accountant |
|
Contact No.: |
91-22-6678050 |
|
Date |
13.08.2015 |
LOCATIONS
|
Registered Office : |
143, Oshiwara Inddustrial Centre, Opposite Oshiwara Bus Depot, Goregaon (West), Mumbai
- 400104, |
|
Tel. No.: |
91-22-66780500 |
|
Mobile No.: |
91-9821058571 (Mr. Manish Agarwal) |
|
Fax No.: |
91-22-66780594 |
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E-Mail : |
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|
Website : |
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|
|
|
|
Corporate Office : |
S - 4, Woodrose Building, Lokhandwala Complex, Opposite Oshiwara, New Link
Road, Andheri, Mumbai - 400104, Maharashtra, India |
DIRECTORS
AS ON 30.09.2014
|
Name : |
Mr. Manish Agarwal |
|
Designation : |
Managing Director |
|
Address : |
1101/1A, Green Acres, Lokhandwala Complex, Andheri (West), Mumbai –
400053, |
|
Date of Birth/Age : |
14.10.1971 |
|
Date of Appointment : |
26.03.2004 |
|
PAN No. : |
ABDPA0123G |
|
DIN No. : |
00002865 |
|
|
|
|
Name : |
Mr. Mahesh Chandra Agarwal |
|
Designation : |
Director |
|
Address : |
1101/1A, Green Acres, Lokhandwala Complex, Andheri (West), Mumbai –
400053, |
|
Date of Birth/Age : |
19.01.1945 |
|
Date of Appointment : |
26.03.2004 |
|
PAN No. : |
ABDPA0146R |
|
DIN No. : |
00002868 |
KEY EXECUTIVE
|
Name : |
Ms. Anuradha Das |
|
Designation : |
Chartered Accountant |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2014
|
Names of Shareholders |
No. of Shares |
Percentage of
Holding |
|
Mahesh Chandra Agarwal |
52980 |
37.31 |
|
Manish Agarwal |
71010 |
50.01 |
|
Meera Agrawal |
18010 |
12.68 |
|
Total |
142000 |
100.00 |
AS ON 30.09.2014
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Trader of Computer, Computer Peripherals and Mobile
Phones. |
|
|
|
|
Brand Name: |
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|
Agencies Held : |
Not Divulged |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
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|
Selling : |
Cash and Credit (30 days / 60 days / 90 days) |
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|
|
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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 : |
50 (Approximately) |
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Bankers : |
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Facilities : |
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Auditors : |
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|
Name : |
M. M. Agarwal and Company Chartered Accountants |
|
Address : |
2, Jagannath puri, |
|
Income-tax
PAN of auditor or auditor's firm : |
AAVPA3237E |
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|
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Memberships : |
-- |
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Collaborators : |
-- |
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|
|
Associate : |
Priyanka Infocom India Private Limited [U72900MH2008PTC183452] |
CAPITAL STRUCTURE
AS ON 31.03.2015
[Provisional]
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
200,000 |
Equity Shares |
Rs.100/- each |
Rs.20.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
142,000 |
Equity Shares |
Rs.100/- each |
Rs.14.200 Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2015 (Provisional) |
31.03.2014 |
31.03.2013 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders'
Funds |
|
|
|
|
(a) Share Capital |
14.200 |
14.200 |
14.200 |
|
(b) Reserves & Surplus |
147.326 |
79.842 |
62.824 |
|
(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) |
161.526 |
94.042 |
77.024 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
31.745 |
10.186 |
12.692 |
|
(b) Deferred tax liabilities (Net) |
6.453 |
6.453 |
4.757 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
38.198 |
16.639 |
17.449 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
355.020 |
193.025 |
104.313 |
|
(b) Trade
payables |
215.497 |
28.505 |
2.894 |
|
(c) Other
current liabilities |
16.959 |
7.401 |
0.352 |
|
(d) Short-term
provisions |
18.681 |
6.908 |
0.639 |
|
Total Current
Liabilities (4) |
606.157 |
235.839 |
108.198 |
|
|
|
|
|
|
TOTAL |
805.881 |
346.520 |
202.671 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
52.059 |
51.715 |
53.267 |
|
(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 |
0.000 |
0.000 |
0.000 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
52.059 |
51.715 |
53.267 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current
investments |
5.000 |
0.000 |
0.000 |
|
(b)
Inventories |
489.588 |
155.182 |
106.356 |
|
(c) Trade
receivables |
182.926 |
127.894 |
25.764 |
|
(d) Cash
and cash equivalents |
68.642 |
2.489 |
0.529 |
|
(e)
Short-term loans and advances |
7.454 |
9.075 |
16.219 |
|
(f) Other
current assets |
0.212 |
0.165 |
0.536 |
|
Total
Current Assets |
753.822 |
294.805 |
149.404 |
|
|
|
|
|
|
TOTAL |
805.881 |
346.520 |
202.671 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2015 (Provisional) |
31.03.2014 |
31.03.2013 |
|
|
SALES |
|
|
|
|
|
Income |
3063.814 |
766.635 |
1024.2 |
|
|
|
|
[Due
to market fluctuation] |
|
|
|
Other Income |
0.000 |
0.292 |
NA |
|
|
TOTAL |
3063.814 |
766.927 |
NA |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Material Cost |
2612.694 |
637.637 |
|
|
|
Direct Expenses |
101.621 |
13.519 |
|
|
|
Selling and Marketing
Expenses |
31.604 |
0.919 |
|
|
|
Administrative Expenses |
170.947 |
71.153 |
|
|
|
Foreign Currency Exchange
Gains / Losses |
(4.943) |
(0.261) |
|
|
|
Other expenses |
0.000 |
0.000 |
|
|
|
TOTAL |
2911.923 |
722.967 |
NA |
|
|
|
|
|
|
|
Less |
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION |
151.891 |
43.960 |
|
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
42.093 |
15.903 |
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION |
109.798 |
28.057 |
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
2.560 |
2.375 |
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
107.238 |
25.682 |
|
|
|
|
|
|
|
|
Less |
TAX |
39.754 |
8.664 |
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
67.484 |
17.018 |
4.804 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (Rs.) |
475.24 |
119.84 |
33.83 |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2015 (Provisional) |
31.03.2014 |
31.03.2013 |
|
Current Maturities of Long term debt |
NA |
NA |
NA |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net cash flows from (used in) operations |
NA |
(67.219) |
49.422 |
|
Net cash flows from (used in) operating activities |
NA |
(67.577) |
49.426 |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2015 (Provisional) |
31.03.2014 |
31.03.2013 |
|
Net Profit Margin (PAT / Sales) |
(%) |
2.20 |
2.22 |
0.47 |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
4.96 |
5.73 |
NA |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
13.31 |
7.41 |
NA |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.66 |
0.27 |
NA |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
2.39 |
2.16 |
1.52 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.24 |
1.25 |
1.38 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2013 |
31.03.2014 |
31.03.2015 (Provisional) |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Share Capital |
14.200 |
14.200 |
14.200 |
|
Reserves & Surplus |
62.824 |
79.842 |
147.326 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net worth |
77.024 |
94.042 |
161.526 |
|
|
|
|
|
|
long-term borrowings |
12.692 |
10.186 |
31.745 |
|
Short term borrowings |
104.313 |
193.025 |
355.020 |
|
Current Maturities of
Long Term Debt |
0.000 |
0.000 |
0.000 |
|
Total borrowings |
117.005 |
203.211 |
386.765 |
|
Debt/Equity ratio |
1.519 |
2.161 |
2.394 |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.03.2013 |
31.03.2014 |
31.03.2015 (Provisional) |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Sales |
1024.200 |
766.635 |
3063.814 |
|
|
|
(25.148) |
299.644 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2013 |
31.03.2014 |
31.03.2015 (Provisional) |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Sales |
1024.200 |
766.635 |
3063.814 |
|
Profit |
4.804 |
17.018 |
67.484 |
|
|
0.47% |
2.22% |
2.20% |
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 |
Yes |
|
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 |
Yes |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
Yes |
|
19 |
Major customers |
Yes |
|
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% |
Yes |
|
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 |
Yes |
|
32 |
Litigations that the firm/promoter
involved in |
--- |
|
33 |
Market information |
--- |
|
34 |
Payments terms |
Yes |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
10524079 |
29/09/2014 |
100,000,000.00 |
THE COSMOS CO-OP BANK LTD |
VILE PARLE BRANCH GROUND FLOOR, PRATIK AVENUE, OP |
C25502428 |
|
2 |
10519317 |
02/09/2014 |
60,000,000.00 |
THE COSMOS CO-OP BANK LTD |
GOREGAON (W) BRANCH,SHOP NO1-4, 5,6 GR FL ANAND, |
C20096764 |
|
3 |
10486449 |
31/01/2015 * |
700,000,000.00 |
THE COSMOS CO-OP BANK LTD |
VILE PARLE BRANCH, NEHRU ROAD,, VILE PARLE (EAST) |
C42841726 |
* Date of charge modification
UNSECURED LOANS
|
PARTICULAR |
31.03.2015 (Provisional) |
31.03.2014 |
|
|
(Rs. In Million) |
|
|
LONG TERM
BORROWINGS |
|
|
|
Loans and advances from related parties |
0.000 |
8.841 |
|
Other
Loans and advances |
|
|
|
From directors |
31.734 |
0.000 |
|
From others |
0.000 |
0.000 |
|
Total |
31.734 |
8.841 |
CHANGE OF ADDRESS
The Registered Address of the company has been shifted from S-4, Woodrose Building, Lokhandwala Complex, Andheri (West), Mumbai - 400053, Maharashtra, India to the present address w.e.f. 05.11.2007.
FINANCIAL
RESULTS [AS ON 31.03.2014]
The sales turnover of the company has decreased from 1024.200 Million to Rs. 766.600 Million. The post-tax profit however has increased to Rs. 17.000 Million as compared to Rs. 4.800 Million achieved in previous year.
OPERATIONS [AS
ON 31.03.2014]
The significant downfall in turnover has largely been due to cessation of business relating to Nokia products. The same has however, given significant opportunities to the company to tie up with growing brands.
FIXED 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.64.92 |
|
|
1 |
Rs.101.44 |
|
Euro |
1 |
Rs.72.26 |
INFORMATION DETAILS
|
Information
Gathered by : |
KMN |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
SNT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
4 |
|
--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 |
|
43 |
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.