|
Report No. : |
352146 |
|
Report Date : |
03.12.2015 |
IDENTIFICATION DETAILS
|
Name : |
GOKUL AGRO RESOURCES LIMITED |
|
|
|
|
Registered
Office : |
B-402, Shapath Hexa, Near Ganesh Merediyan, Opposite Gujarat High Court,
Sola, Ahmedabad – 380060, Gujarat |
|
Mob. No.: |
91-9099908537 (Mr. Manoj) |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2015 |
|
|
|
|
Date of
Incorporation : |
03.07.2014 |
|
|
|
|
Com. Reg. No.: |
04-080010 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.0.500 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U15142GJ2014PLC080010 |
|
|
|
|
IEC No.: |
Not Divulged |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
AHMG05985A |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAFCG6591A |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturing and Processing of edible and Non edible oil and meals. (Confirmed by management) |
|
|
|
|
No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
B (27) |
|
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 |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a de-merge entity from of "Gokul Refoils and Solvent Limited" (GRSL). The de-merged entities from GRSL are (Goku Agro Resources Limited GARL, Gandhidham unit) and Gokul Agri International Limited (GAIL, Sidhpur unit). The company was incorporated on July 3, 2014 and no business activities was carried out during Financial Year 2014-15, the reserves of the company are Rs.(0.064 Million)/- which mainly contains the pre-operative expenses. The rating takes into accounts on long track record of its promoters in the edible oil industry and diversified product portfolio. The ratings also consider the locational advantage arising from the proximity to ports. In view of strong operational and financial- synergies with parent company, the company can be considered for business dealing with some cautions. Note:- In respect of the Scheme of Arrangement in the nature of Demerger filed by Gokul Refoil and Solvent Limited. In the High Court of Gujarat, the said scheme was sanction by the Hon'ble Gujarat High Court on June 12, 2015 wherein the certified copy of the order of the Court was obtained on June 30, 2015. |
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
|
Rating Agency Name |
ICRA |
|
Rating |
Long term bank facilities: BBB |
|
Rating Explanation |
Moderate degree of safety and moderate credit risk. |
|
Date |
January 2015 |
|
Rating Agency Name |
ICRA |
|
Rating |
Short term bank facilities: A3+ |
|
Rating Explanation |
Moderate degree of safety and higher credit risk. |
|
Date |
January 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
31-03-2015.
INFORMATION DECLINED BY
|
Name : |
Mr. Manish Kella |
|
Designation : |
Chief Financial Officer |
|
Contact No.: |
91-2836-295260 |
|
Date : |
30.11.2015 |
LOCATIONS
|
Registered Office : |
B-402, Shapath Hexa, Near Ganesh Merediyan, Opposite Gujarat High
Court, Sola, Ahmedabad – 380060, Gujarat, India |
|
Tel. No.: |
Not Available |
|
Mobile No.: |
91-9099908537 (Mr. Manoj) |
|
Fax No.: |
Not Available |
|
E-mail : |
|
|
|
|
|
Factory : |
Survey No.7676/1, 80, 89, 91, Near Sharma Resort, Galpadar Road, Meghpar-Borichi,
Kutch – 370201, Gujarat, India |
|
Tel. No.: |
91-2836-295260 |
DIRECTORS
AS ON 31.03.2015
|
Name : |
Mr. Kanubhai Jivatram Thakkar |
|
Designation : |
Managing Director |
|
Address : |
29 Ambika Nagar Society, Opp Geb, Sidhpur -
384151, Gujarat, India |
|
Date of Appointment : |
03.07.2014 |
|
DIN No.: |
00315616 |
|
|
|
|
Name : |
Mr. Balvantsinh Chandansinh Rajput |
|
Designation : |
Director |
|
Address : |
12 Ambika Nagar Society, Opposite Geb,
Sidhpur - 384151, Gujarat, India |
|
Date of Appointment : |
20.04.2015 |
|
DIN No.: |
00315565 |
|
|
|
|
Name : |
Mr. Piyushchandra Ramchandra Vyas |
|
Designation : |
Director |
|
Address : |
'Hari Om', 29/B, Vasuki Society, Vasna,
Ahmedabad - 380007, Gujarat, India |
|
Date of Appointment : |
20.04.2015 |
|
DIN No.: |
01260934 |
|
|
|
|
Name : |
Mr. Dipooba Halaji Devada |
|
Designation : |
Director |
|
Address : |
35/3, Adyapak Nivas, Gujarat Vidyapith,
Ashram Road, Ahmedabad - 380014, Gujarat, India |
|
Date of Appointment : |
20.04.2015 |
|
DIN No.: |
01849583 |
|
|
|
|
Name : |
Mr. Karansinghji Dolatsinghji Mahida |
|
Designation : |
Director |
|
Address : |
1759/B, Sector-2d, Sector-2, Gandhinagar -
382002, Gujarat, India |
|
Date of Appointment : |
20.04.2015 |
|
DIN No.: |
02237323 |
|
|
|
|
Name : |
Mr. Bipinkumar Jayantilal Thakkar |
|
Designation : |
Director |
|
Address : |
B-33 Upasana Co-operative Housing Society
Limited, S. No. 315, On The Canal From Ghodasar To Vatva, Maninagar,
Ahmedabad - 380008, Gujarat, India |
|
Date of Appointment : |
20.04.2015 |
|
DIN No.: |
06782371 |
KEY EXECUTIVES
|
Name : |
Mr. Chinar Rajkumar Jethwani |
|
Designation : |
Secretary |
|
Address : |
B-83, Sunbreeze Towers, Opp. A-One School,,
Subhash Chowk, Gurukul Road, Memnagar, Ahmedabad - 380052, Gujarat, India |
|
Date of Appointment : |
01.06.2015 |
|
PAN No.: |
ATJPJ6701F |
|
|
|
|
Name : |
Mr. Manish Purshottamdas Kella |
|
Designation : |
Chief Financial Officer |
|
Address : |
6, Aditya Appartment, 20 Jayhind Society,
Rambaug, Maninagar, Ahmedabad - 380008, Gujarat, India |
|
Date of Appointment : |
01.06.2015 |
|
PAN No.: |
ADPPK8989E |
|
|
|
|
Name : |
Mr. Hiteshkumar Tarachand Thakkar |
|
Designation : |
Chief Executive Officer |
|
Address : |
B-103, Aditya Residency, Nr. Shraddha
Bunglow, Sabarmati, Motera, Ahmedabad - 380005, Gujarat, India |
|
Date of Appointment : |
12.08.2015 |
|
PAN No.: |
ADMPT5815B |
|
|
|
|
Name : |
Mr. Manish Kella |
|
Designation : |
Chief Financial Officer |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
SHAREHOLDERS DETAILS FILE ATTACHED
BUSINESS DETAILS
|
Line of Business : |
Manufacturing and Processing of edible and Non edible oil and meals. (Confirmed by management) |
|
|
|
|
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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||||||||||||||||||||||
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No. of Employees : |
Information declined by the management
|
||||||||||||||||||||||
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|
||||||||||||||||||||||
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Bankers : |
|
|
Auditors : |
|
|
Name : |
Surana Maloo and Company Chartered Accountants |
|
Address : |
2nd Floor Akashganga Complex Parimal Underbridge Near Suvidha Shopping Center Paldi, Ahmedabad, Gujarat, India |
|
PAN N Income-tax PAN of auditor or auditor's firm : |
AAHFS7809J |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Holding company: |
Gokul Refoils and Solvent Limited, India [L15142GJ1992PLC018745] |
CAPITAL STRUCTURE
AFTER 08.09.2015
Authorised Capital: Rs.350.000 Million
Issued, Subscribed & Paid-up Capital: Rs.263.790
Million
AS ON 31.03.2015
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
50000 |
Equity Shares |
Rs.10/- each |
Rs. 0.500 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
50000 |
Equity Shares |
Rs.10/- each |
Rs. 0.500 Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED
BALANCE SHEET
|
SOURCES
OF FUNDS |
|
|
31.03.2015 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
|
0.500 |
|
(b) Reserves & Surplus |
|
|
(0.064) |
|
(c) Money received against
share warrants |
|
|
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
|
|
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
|
|
0.436 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
|
0.000 |
|
(b) Deferred tax liabilities
(Net) |
|
|
0.000 |
|
(c) Other long term
liabilities |
|
|
0.000 |
|
(d) long-term provisions |
|
|
0.000 |
|
Total
Non-current Liabilities (3) |
|
|
0.000 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
|
|
17.823 |
|
(b) Trade payables |
|
|
5.526 |
|
(c) Other current liabilities |
|
|
0.544 |
|
(d) Short-term provisions |
|
|
0.000 |
|
Total
Current Liabilities (4) |
|
|
23.893 |
|
|
|
|
|
|
TOTAL |
|
|
24.329 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
|
7.048 |
|
(ii) Intangible Assets |
|
|
1.606 |
|
(iii) Capital work-in-progress |
|
|
7.077 |
|
(iv) Intangible assets under
development |
|
|
0.000 |
|
(b) Non-current Investments |
|
|
0.000 |
|
(c) Deferred tax assets (net) |
|
|
0.000 |
|
(d) Long-term Loan and Advances |
|
|
5.858 |
|
(e) Other Non-current assets |
|
|
0.000 |
|
Total
Non-Current Assets |
|
|
21.589 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
|
0.000 |
|
(b) Inventories |
|
|
0.000 |
|
(c) Trade receivables |
|
|
0.000 |
|
(d) Cash and cash equivalents |
|
|
1.714 |
|
(e) Short-term loans and
advances |
|
|
1.026 |
|
(f) Other current assets |
|
|
0.000 |
|
Total
Current Assets |
|
|
2.740 |
|
|
|
|
|
|
TOTAL |
|
|
24.329 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
|
|
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Income |
|
|
0.000 |
|
|
Other Income |
|
|
0.000 |
|
|
TOTAL
(A) |
|
|
0.000 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
TOTAL
(B) |
|
|
0.000 |
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (C) |
|
|
0.000 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
|
|
0.064 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
|
|
(0.064) |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION (F) |
|
|
0.000 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX (E-F) (G) |
|
|
(0.064) |
|
|
|
|
|
|
|
Less |
TAX (H) |
|
|
0.000 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX (G-H) (I) |
|
|
(0.064) |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
|
|
(1.28) |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
|
|
31.03.2015 |
|
Current Maturities of Long term debt |
|
|
NA |
|
Cash generated from operations |
|
|
4.756 |
|
Net cash flows from (used in) operations |
|
|
4.756 |
KEY
RATIOS
|
PARTICULARS |
|
|
|
31.03.2015 |
|
Net Profit Margin (PAT / Sales) |
(%) |
|
|
0.00 |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
|
|
0.00 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
|
|
(0.37) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
|
|
(0.15) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
|
|
40.88 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
|
|
0.11 |
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 |
No |
|
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 one year |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last one year |
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 |
CHANGE IN NATURE OF
BUSINESS OF THE COMPANY
Pursuant to the scheme of arrangement in the nature of Demerger filed with Hon’ble Gujarat High Court, Ownership of Gandhidham Undertaking and Gandhidham Windmill Undertaking of GRSL are proposed to transfer in favor of GARL. Before giving effect to the transfer of Windmills, it was required to include the power generation activity in the main object clause of the Memorandum of the Company.
The Company, vide Special Resolution passed in the meeting of members of the Company held on May 25, 2015, has altered the Main Object Clause of the Memorandum of Association and the same has been approved by the Registrar of Companies, Ahmedabad on June 1, 2015.
OPERATIONS IN FUTURE
In respect of the Scheme of Arrangement in the nature of Demerger filed by Gokul Refoils and Solvent Limited. in the High Court of Gujarat; the said scheme was sanctioned by the Hon’ble Gujarat High Court on June 12, 2015 wherein the certified copy of order of the Court was obtained on June 30, 2015. As per the said scheme, with effect from the Appointed Date and upon the scheme becoming effective on filing the Certified Copy of the Order in e-form INC- 28 with the Registrar of Companies of Gujarat, the whole of the Gandhidham Undertaking and the whole of the Gandhidham Windmill Undertaking shall pursuant to the provisions of the Companies Act, 1956, Companies Act, 2013, Income Tax Act and other applicable laws and statutes, without any further act, instrument, deed, matter or thing, stand transferred to and vested into, as going concern, so as to vest in Gokul Agro Resources Limited all rights, title and interest pertaining to the Demerged Undertakings
UNSECURED LOAN
(Rs.
In Million)
|
Particulars |
|
As
on 31.03.2015 |
|
SHORT TERM
BORROWING |
|
|
|
Other loans and advances, others |
|
17.823 |
|
Total |
|
17.823 |
FIXED ASSETS
Tangible assets
Intangible assets
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources including
but not limited to: The Courts, India Prisons Service, Interpol, etc.
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.66.62 |
|
UK Pound |
1 |
Rs.100.34 |
|
Euro |
1 |
Rs.70.67 |
INFORMATION DETAILS
|
Information
Gathered by : |
PPT |
|
|
|
|
Analysis Done by
: |
KAS |
|
|
|
|
Report Prepared
by : |
KVT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILITY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--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 |
|
27 |
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.