MIRA INFORM REPORT
|
Report No. : |
352700 |
|
Report Date : |
07.12.2015 |
IDENTIFICATION DETAILS
|
Name : |
JMC PAPER TECH
PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
25-26/8/13, Nilsin Blue Factory Compound, Phase - 1, G.I.D.C. Vatva,
Ahmedabad – 382445, Gujarat |
|
Tel. No.: |
91-79-40014848 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
19.07.2011 |
|
|
|
|
Com. Reg. No.: |
04-066396 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.38.175 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U29293GJ2011PTC066396 |
|
|
|
|
IEC No.: |
Not Divulged |
|
|
|
|
TAN No.: [Tax Deduction & Collection
Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
Not Available |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject is engaged in Manufacturer, Exporter and Importer of paper mill
machinery equipment and trading its spare parts. (Registered Activity) |
|
|
|
|
No. of Employees
: |
50 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (41) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 118000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company incorporated in the year 2011. It is
engaged in the manufacturing, exporting and importing of paper mill machinery
equipment and trading of spare parts. For the financial year ended 2014, the company has modest operational
activity marked by consistent sales turnover along with thin profitability
margin. The company has satisfactory financial base along with adequate
networth position. Trade relations are fair. Business is active. Payments are slow but
correct. 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 – 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
31-03-2015.
INFORMATION PARTED BY
|
Name : |
Mr. Nipam |
|
Designation : |
Vice President Finance |
|
Contact No.: |
91-9327022656 |
|
Date : |
03.12.2015 |
LOCATIONS
|
Registered Office / Factory : |
25-26/8/13, Nilsin Blue Factory Compound, Phase - 1, G.I.D.C. Vatva,
Ahmedabad – 382445, Gujarat, India |
|
Tel. No.: |
91-79-40014848 |
|
Mobile No.: |
91-9327022656 (Mr. Nipam) |
|
Fax No.: |
91-79-40014888 |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
|
Locality : |
Industrial |
DIRECTORS
As on 30.09.2014
|
Name : |
Binaben Rajni Patel |
|
Designation : |
Director |
|
Address : |
19-B Parul Nagar Society, Bhuyangdev Char Rasta Ghatlodia, Ahmedabad - 380061, Gujarat, India |
|
Date of Birth/Age : |
12.11.1973 |
|
Date of Appointment : |
17.07.2011 |
|
DIN No.: |
02441100 |
|
Other Directorship : |
|
|
|
|
|
Name : |
Mr. Mayankkumar Amrutlal Suthar |
|
Designation : |
Director |
|
Address : |
D-4, Devbhumi Soceity, Ghodasar, Ahmedabad - 380050, Gujarat, India |
|
Date of Birth/Age : |
17.04.1970 |
|
Date of Appointment : |
19.07.2011 |
|
DIN No.: |
03509669 |
|
Other Directorship : |
|
|
|
|
|
Name : |
Rajani Ambalal Patel |
|
Designation : |
Director |
|
Address : |
19/B, Parul Nagar Soceity,, Bhuyangdev Char Rasta, Ghatlodiya, Ahmedabad - 380061, Gujarat, India |
|
Date of Birth/Age : |
11.09.1972 |
|
Date of Appointment : |
19.07.2011 |
|
DIN No.: |
03509671 |
|
Other Directorship : |
|
|
|
|
|
Name : |
Mr. Kanan Patel |
|
Designation : |
Director |
|
Address : |
19-B, Parul Nagar, Sola Road, Ghatlodia, Ahmedabad - 380061, Gujarat, India |
|
Date of Birth/Age : |
25.04.1985 |
|
Date of Appointment : |
21.07.2011 |
|
DIN No.: |
03580054 |
|
Other Directorship : |
|
KEY EXECUTIVES
|
Name : |
Mr. Nipam |
|
Designation : |
Vice President Finance |
MAJOR SHAREHOLDERS
As on 30.09.2014
|
Names of Shareholders |
|
No. of Shares |
|
Binaben Rajni Patel |
|
2685000 |
|
Rajani Ambalal Patel (HUF) |
|
681000 |
|
Kanan Patel |
|
449000 |
|
Mayankkumar Amrutlal Suthar |
|
1000 |
|
Rajesh Babubhai Gajjar |
|
500 |
|
Nipam Jyantilal Thakkar |
|
500 |
|
Amarish Dahyalal Patel |
|
500 |
|
Total |
|
3817500 |
As on 30.09.2014
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in Manufacturer, Exporter and Importer of paper
mill machinery equipment and trading its spare parts. (Registered Activity) |
|
|
|
|
Products : |
Paper Mill Machinery |
|
|
|
|
Brand Names : |
Not Available |
|
|
|
|
Agencies Held : |
Not Available |
|
|
|
|
Exports : |
|
|
Products : |
Craft Paper Making Machine |
|
Countries : |
|
|
|
|
|
Imports : |
|
|
Products : |
Raw Material |
|
Countries : |
China |
|
|
|
|
Terms : |
|
|
Selling : |
Cash and Credit (30/60 Days) |
|
|
|
|
Purchasing : |
Cash and Credit (30/60 Days) |
PRODUCTION STATUS = NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
Manufacturer
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No. of Employees : |
50 (Approximately) |
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Bankers : |
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Facilities : |
(Rs.
In Million)
|
|
Auditors : |
|
|
Name : |
Surana Maloo and Company Chartered Accountants |
|
Address : |
4th Floor, Shaival Plaza, Gujarat College Road, Ahmedabad –
380006, Gujarat, India |
|
Tel. No.: |
91-79-26651777 / 26651778 |
|
Mobile No.: |
91-8158061777 |
|
E-Mail : |
|
|
Website : |
|
|
PAN No.: |
AAHFS7809J |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
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|
|
|
Associates/Subsidiaries : |
Not Available |
CAPITAL STRUCTURE
As on 30.09.2014
Authorised Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4500000 |
Equity Shares |
Rs.10/- each |
Rs.45.000 Million |
Issued, Subscribed & Paid-up Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3817500 |
Equity Shares |
Rs.10/- each |
Rs.38.175
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 |
38.175 |
38.175 |
38.175 |
|
(b) Reserves &
Surplus |
3.069 |
2.030 |
1.331 |
|
(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) |
41.244 |
40.205 |
39.506 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
18.393 |
5.414 |
16.411 |
|
(b) Deferred tax
liabilities (Net) |
0.174 |
0.175 |
0.234 |
|
(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) |
18.567 |
5.589 |
16.645 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
48.657 |
49.943 |
92.964 |
|
(b) Trade payables |
24.585 |
80.102 |
59.004 |
|
(c) Other current
liabilities |
40.532 |
12.776 |
3.479 |
|
(d) Short-term provisions |
0.498 |
0.424 |
0.000 |
|
Total Current Liabilities
(4) |
114.272 |
143.245 |
155.447 |
|
|
|
|
|
|
TOTAL |
174.083 |
189.039 |
211.598 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
22.121 |
22.621 |
25.229 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
6.792 |
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 |
0.268 |
0.268 |
0.214 |
|
(e) Other Non-current
assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
29.181 |
22.889 |
25.443 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
108.831 |
132.427 |
168.199 |
|
(c) Trade receivables |
26.257 |
31.975 |
8.309 |
|
(d) Cash and cash
equivalents |
8.521 |
0.393 |
2.166 |
|
(e) Short-term loans and
advances |
1.293 |
1.355 |
5.051 |
|
(f) Other current assets |
0.000 |
0.000 |
2.430 |
|
Total Current Assets |
144.902 |
166.150 |
186.155 |
|
|
|
|
|
|
TOTAL |
174.083 |
189.039 |
211.598 |
PROFIT & LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Income |
192.365 |
200.899 |
242.404 |
|
|
Other Income |
0.233 |
1.726 |
2.771 |
|
|
TOTAL |
192.598 |
202.625 |
245.175 |
|
|
|
|
|
|
|
Less |
EXPENSES |
191.029 |
201.595 |
243.245 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
1.569 |
1.030 |
1.930 |
|
|
|
|
|
|
|
Less |
TAX |
0.530 |
0.329 |
0.602 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
1.039 |
0.701 |
1.328 |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
0.130 |
17.911 |
10.052 |
|
|
TOTAL EARNINGS |
0.130 |
17.911 |
10.052 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
0.173 |
0.000 |
35.548 |
|
|
TOTAL IMPORTS |
0.173 |
0.000 |
35.548 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (Rs.) |
0.27 |
0.18 |
0.34 |
|
Particulars |
|
|
31.03.2015 |
|
Sales Turnover (Approximately) |
|
|
355.700 |
Expected Sales (2015-16): Rs.400.000 Million
The above information has been parted by Mr. Nipam (Vice President
Finance).
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current Maturities of Long term debt |
0.314 |
0.441 |
3.140 |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net cash flows from operating activities |
NA |
NA |
NA |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT/Sales) |
(%) |
0.54 |
0.35 |
0.55 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.94 |
0.54 |
0.91 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.04 |
0.03 |
0.05 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
1.63 |
1.39 |
2.85 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.27 |
1.16 |
1.20 |
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 |
38.175 |
38.175 |
38.175 |
|
Reserves & Surplus |
1.331 |
2.030 |
3.069 |
|
Net worth |
39.506 |
40.205 |
41.244 |
|
|
|
|
|
|
long-term borrowings |
16.411 |
5.414 |
18.393 |
|
Short term borrowings |
92.964 |
49.943 |
48.657 |
|
Current Maturities of
Long Term Debt |
3.140 |
0.441 |
0.314 |
|
Total borrowings |
112.515 |
55.798 |
67.364 |
|
Debt/Equity ratio |
2.848 |
1.388 |
1.633 |
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 |
242.404 |
200.899 |
192.365 |
|
|
|
(17.122) |
(4.248) |
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 |
242.404 |
200.899 |
192.365 |
|
Profit |
1.328 |
0.701 |
1.039 |
|
|
0.55% |
0.35% |
0.54% |
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) |
Yes |
|
16 |
No. of employees |
Yes |
|
17 |
Details of sister concerns |
No |
|
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 four years |
Yes |
|
27 |
Reasons for variation <> 20% |
---------------------- |
|
28 |
Estimation for coming financial year |
Yes |
|
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 |
Yes |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
CORPORATE
INFORMATION
Subject is closely held company domiciled in India and incorporated
under the provisions of the companies Act, 1956. The company is engaged in the business
of manufacturing of Paper Mill Machinery Equipment and Trading of its spare
parts.
OPERATION
The Sale of the company has been placed at
Rs.192.364 Million as compared to previous figure of Rs.200.899 Million whereas
after providing for interest, Depreciation and other expenses, the company has
earned Net Profit of Rs.1.039 Million as compared to previous year figure of
Rs.0.701 Million. The directors are optimistic of achieving better results in
the coming year.
UNSECURED LOAN
(Rs.
In Million)
|
Particulars |
As
on 31.03.2014 |
As
on 31.03.2013 |
|
LONG TERM
BORROWING |
|
|
|
From Shareholders |
0.000 |
5.165 |
|
Trade Credit from Supplier |
17.652 |
0.000 |
|
Total |
17.652 |
5.165 |
INDEX OF CHARGES
|
S.
No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10364018 |
22/05/2012 |
600,000.00 |
UNION BANK OF INDIA |
GOMTIPUR BRANCH, OUTSIDE GOMTIPUR GATE, AHMEDABAD - 380021, Gujarat, INDIA |
B43002211 |
|
2 |
10299918 |
03/06/2015 * |
136,600,000.00 |
UNION BANK OF INDIA |
GOMTIPUR BRANCH, OUTSIDE GOMTIPUR GATE, AHMEDABAD - 380021, Gujarat, INDIA |
C61580262 |
* Date of charge modification
FIXED ASSETS
- Freehold Land
- Factory Building
- Plant and Machinery
- Pattern and Dies
- Vehicles
- Furniture
- Office Equipments
- Computer
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.66.83 |
|
|
1 |
Rs.101.04 |
|
Euro |
1 |
Rs.73.04 |
INFORMATION DETAILS
|
Information
Gathered by : |
KMN |
|
|
|
|
Analysis Done by
: |
TRI |
|
|
|
|
Report Prepared
by : |
PNM |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILITY |
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 |
YES |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER
|
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
41 |
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.