MIRA INFORM REPORT
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Report No. : |
355681 |
|
Report Date : |
18.12.2015 |
IDENTIFICATION DETAILS
|
Name : |
21 TRENDS PRIVATE LIMITED |
|
|
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Registered
Office : |
2B, Narayan Dabholkar Road, 71, NYMPH Building, Mumbai –
400006, Maharashtra |
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Tel. No.: |
91-22-40031024 |
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Country : |
India |
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Financials (as
on) : |
31.03.2015 |
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Date of
Incorporation : |
20.02.2013 |
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Com. Reg. No.: |
11-240623 |
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Capital
Investment / Paid-up Capital : |
Rs.0.464 Million |
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CIN No.: [Company Identification
No.] |
U52100MH2013PTC240623 |
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IEC No.: |
Not Divulged |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
Not Available |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Subject is primarily engaged in the business of manufacturing, buying, selling, designing, promoting, marketing or supplying a wholesale and mall dealers of every kind, wearing apparels for men, women, children and related products. (Registered Activity) |
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No. of Employees
: |
Information declined by the management
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RATING & COMMENTS
|
MIRA’s Rating : |
B (29) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject was established in the year 2013 and it owns and operates an online web portal voxpop.com. It offers t-shirts, v-necks, polos, hoodies, raglans, full-sleeves, blanks, boxers and sleepwear for men and t-shirts, v-necks, hoodies, raglans, full-sleeves, blanks, boxers and sleepwear for women and apparel for kids. The company also designs and sells character t-shirts for brands like disney, marvel, dc comics and star trek. The ratings take into consideration the adverse financial metrics of the company as reflected by its loss making nature of operations and moderate operating efficiencies of the company. Rating also takes into account of vulnerability of business to seasonal fluctuations, highly competitive and fragmented nature of the industry and high year-end operating cycle due to increased volume of trading business segment. Rating weakness is partially offset by experience of promotes in garment business along with average financial base and sound debt coverage indicators of the company. Trade relations are reported as fair. Payments are reported to be slow but correct. In view of operational losses, 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.
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
31-03-2015.
INFORMATION DECLINED BY
|
Name : |
Mr. Pankaj |
|
Designation : |
Purchase Department |
|
Contact No.: |
91-22-40031024 |
|
Date : |
17.12.2015 |
LOCATIONS
|
Registered Office : |
2B, Narayan Dabholkar Road, 71, NYMPH Building, Mumbai –
400006, Maharashtra, India |
|
Tel. No.: |
91-22-40031024 |
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Fax No.: |
Not Available |
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E-Mail : |
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|
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Branch Office: |
Block 22 Evergreen Industrial
Estate, Shakti Mill Lane, Mahalaxmi, Mumbai – 400011, Maharashtra, India |
DIRECTORS
AS ON 31.03.2015
|
Name : |
Mr. Rameshchandra Taparia |
|
Designation : |
Director |
|
Address : |
7th Floor, NYMPH, 2-B,Narayan Dabholkar Road, Mumbai -
400006, Maharashtra, India |
|
Date of Birth/Age : |
19.11.1949 |
|
Date of Appointment : |
16.10.2013 |
|
DIN No.: |
00318705 |
|
|
|
|
Name : |
Mr. Neeraj Sajjan Goenka |
|
Designation : |
Director |
|
Address : |
4, Shiv Kunj, 11th Road, Jvpd Scheme, Juhu, Mumbai -
400049, Maharashtra, India |
|
Date of Birth/Age : |
24.06.1972 |
|
Date of Appointment : |
16.10.2013 |
|
DIN No.: |
00745541 |
|
|
|
|
Name : |
Mr. Siddharth Taparia |
|
Designation : |
Director |
|
Address : |
2B, Narayan Dabholkar Road, 71, NYMPH Building, Mumbai –
400006, Maharashtra, India |
|
Date of Birth/Age : |
29.06.1975 |
|
Date of Appointment : |
16.10.2013 |
|
DIN No.: |
06401690 |
KEY EXECUTIVES
|
Name : |
Mr. Pankaj |
|
Designation : |
Purchase Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 31.03.2015
SHAREHOLDING DETAIL FILE ATTACHED
Equity Share Break up (Percentage of Total Equity)
AS ON 19.08.2014
|
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 |
0.69 |
|
Directors or relatives of Directors |
97.92 |
|
Other top fifty shareholders |
1.39 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is primarily engaged in the business of
manufacturing, buying, selling, designing, promoting, marketing or supplying a
wholesale and mall dealers of every kind, wearing apparels for men, women,
children and related products. (Registered Activity) |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
Not Divulged |
PRODUCTION STATUS: NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
Information declined by the management
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Bankers : |
Canara Bank, Tamarind Lane, Crossly House, Ground Floor, British Hotel Lane, Fort, Mumbai - 400001, Maharashtra, India
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Facilities : |
(Rs.
In Million)
Note: Working capital limit are secured against book debt and stock |
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Auditors : |
|
|
Name : |
Chokshi and Chokshi Chartered Accountant |
|
Address : |
15/17, Raghavji 'B' Building, Ground Floor, Raghavji Road, Gowalia
Tank, Off. Kemps Corner, Mumbai – 400036, Maharashtra, India |
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Tel. No.: |
91-22-23836900 |
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Fax No.: |
91-22-23836901 |
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E-Mail : |
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Website: |
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PAN N Income-tax PAN of auditor or auditor's firm : |
AAAFC2633B |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Associates/Subsidiaries : |
-- |
CAPITAL STRUCTURE
AS ON 31.03.2015
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
20000 |
Equity Shares |
Rs.10/- each |
Rs. 0.200 Million |
|
40000 |
Preference Shares |
Rs.10/- each |
Rs. 0.400 Million |
|
|
|
|
|
|
|
Total |
|
Rs. 0.600
Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
14593 |
Equity Shares |
Rs.10/- each |
Rs. 0.146 Million |
|
31807 |
Preference Shares |
Rs.10/- each |
Rs. 0.318 Million |
|
|
|
|
|
|
|
Total |
|
Rs. 0.464
Million |
FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED
BALANCE SHEET
|
SOURCES
OF FUNDS |
|
31.03.2015 |
31.03.2014 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
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|
|
|
(1)Shareholders' Funds |
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|
|
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(a) Share Capital |
|
0.464 |
0.241 |
|
(b) Reserves & Surplus |
|
40.603 |
6.224 |
|
(c) Money received against
share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money
pending allotment |
|
0.000 |
0.002 |
|
Total
Shareholders’ Funds (1) + (2) |
|
41.067 |
6.467 |
|
|
|
|
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(3) Non-Current Liabilities |
|
|
|
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(a) long-term borrowings |
|
0.000 |
0.000 |
|
(b) Deferred tax liabilities
(Net) |
|
0.227 |
0.063 |
|
(c) Other long term
liabilities |
|
0.000 |
0.000 |
|
(d) long-term provisions |
|
0.000 |
0.000 |
|
Total
Non-current Liabilities (3) |
|
0.227 |
0.063 |
|
|
|
|
|
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(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
|
7.792 |
0.000 |
|
(b) Trade payables |
|
18.625 |
1.262 |
|
(c) Other current liabilities |
|
5.921 |
0.476 |
|
(d) Short-term provisions |
|
2.075 |
2.680 |
|
Total
Current Liabilities (4) |
|
34.413 |
4.418 |
|
|
|
|
|
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TOTAL |
|
75.707 |
10.948 |
|
|
|
|
|
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II.
ASSETS |
|
|
|
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(1) Non-current assets |
|
|
|
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(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
1.143 |
0.592 |
|
(ii) Intangible Assets |
|
16.109 |
1.440 |
|
(iii) Capital work-in-progress |
|
0.000 |
0.000 |
|
(iv) Intangible assets under
development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
0.368 |
0.138 |
|
(e) Other Non-current assets |
|
0.226 |
0.338 |
|
Total
Non-Current Assets |
|
17.846 |
2.508 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
0.000 |
0.000 |
|
(b) Inventories |
|
10.967 |
3.261 |
|
(c) Trade receivables |
|
6.901 |
3.019 |
|
(d) Cash and cash equivalents |
|
35.526 |
0.447 |
|
(e) Short-term loans and
advances |
|
1.465 |
0.138 |
|
(f) Other current assets |
|
3.002 |
1.575 |
|
Total
Current Assets |
|
57.861 |
8.440 |
|
|
|
|
|
|
TOTAL |
|
75.707 |
10.948 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
|
31.03.2015 |
31.03.2014 |
|
|
SALES |
|
|
|
|
|
Income |
|
60.187 |
5.958 |
|
|
Other Income |
|
0.552 |
0.013 |
|
|
TOTAL
(A) |
|
60.739 |
5.971 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
|
37.315 |
0.000 |
|
|
Purchases of Stock-in-Trade |
|
0.000 |
7.014 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
|
(6.622) |
(3.261) |
|
|
Employees benefits expense |
|
10.207 |
2.327 |
|
|
Other expenses |
|
52.656 |
5.633 |
|
|
TOTAL
(B) |
|
93.556 |
11.713 |
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (C) |
|
(32.817) |
(5.742) |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
|
0.050 |
0.000 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
|
(32.867) |
(5.742) |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION (F) |
|
2.963 |
0.581 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX (E-F) (G) |
|
(35.830) |
(6.323) |
|
|
|
|
|
|
|
Less |
TAX (H) |
|
0.164 |
0.063 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX (G-H) (I) |
|
(35.994) |
(6.386) |
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
|
(6.386) |
0.000 |
|
|
|
|
|
|
|
|
Balance
Carried to the B/S |
|
(42.380) |
(6.386) |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
|
|
|
|
Basic |
|
(2,467.00) |
(442.00) |
|
|
Diluted |
|
(2,489.00) |
(659.00) |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
|
31.03.2015 |
31.03.2014 |
|
Current Maturities of Long term debt |
|
NA |
NA |
|
Cash generated from operations |
|
NA |
NA |
|
Net cash from operating activities |
|
(24.959) |
(9.767) |
KEY
RATIOS
|
PARTICULARS |
|
|
31.03.2015 |
31.03.2014 |
|
Net Profit Margin (PAT / Sales) |
(%) |
|
(59.80) |
(107.18) |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
|
(54.53) |
(96.37) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
|
(47.33) |
(57.75) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
|
(0.87) |
(0.98) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
|
0.19 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
|
1.68 |
1.91 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2014 |
31.03.2015 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
|
Share Capital |
0.241 |
0.464 |
|
Reserves & Surplus |
6.224 |
40.603 |
|
Money received against share
warrants |
0.000 |
0.000 |
|
Share Application money pending allotment |
0.002 |
0.000 |
|
Net
worth |
6.467 |
41.067 |
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
|
Short term borrowings |
0.000 |
7.792 |
|
Total
borrowings |
0.000 |
7.792 |
|
Debt/Equity
ratio |
0.000 |
0.190 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2014 |
31.03.2015 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
|
Sales |
5.958 |
60.187 |
|
|
|
910.188 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2014 |
31.03.2015 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
|
Sales |
5.958 |
60.187 |
|
Profit |
(6.386) |
(35.994) |
|
|
(107.18%) |
(59.80%) |
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 |
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 two years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last two 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 |
BUSINESS OVERVIEW AND
PERFORMANCE
OVERVIEW
Subject is an apparel design, marketing, manufacturing and sourcing company that features a diverse portfolio of lifestyle basics and branded apparel. They specialize in selling casual and athletic products through their online platform www.voxpopclothing.com. They design and internally manufacture the majority of their products, which allows us to offer a high degree of consistency and quality controls as well as leverage scale efficiencies. One of their strengths is the speed with which they can reach the market from design to delivery. Their distribution facilities are located in Mumbai and they have logistics partnerships with Fedex to better serve their customers with same-day shipping on their catalog products.
BUSINESS PERFORMANCE
The company’s income from sale of business operations is INR 60.187 Million for the period ending March 2015. The company has made significant investments to create a robust technology online platform and marketing analytics to run a strong online business. The company in its first has signed several international and domestic brands for apparel merchandising including iconic brands like Disney, Marvel and Warner Brothers. The company is poised now a grow significantly in the coming years with addition of new brand and new lifestyle products to cater to its consumer.
BACKGROUND
Subject is primarily engaged in the business of manufacturing, buying, selling, designing, promoting, marketing or supplying a wholesale and mall dealers of every kind, wearing apparels for men, women, children and related products.
INDEX
OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
10598711 |
13/10/2015 |
20,000,000.00 |
SMALL INDUSTRIES DEVELOPMENT BANK OF INDIA (SIDBI) |
1 & 2
DHANALAXMI RESIDENCY,, NEAR HOTEL TIP TOP P |
C68197227 |
|
2 |
10531041 |
25/05/2015 * |
20,000,000.00 |
CANARA BANK |
TAMARIND LANE,
CROSSLY HOUSE, GROUND FLOOR, BRITI |
C55457410 |
* Date of charge modification
FIXED ASSETS
Tangible assets
- Computer
- Computer Services and Networks
- Office Equipment
- Furniture and Fixtures
- Air Conditioner
- Plant and Machinery
Intangible Assets
- Brand Development
- Trade Marks
- Software
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.66.65 |
|
UK Pound |
1 |
Rs.99.61 |
|
Euro |
1 |
Rs.72.33 |
INFORMATION DETAILS
|
Information
Gathered by : |
SUP |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
KVT |
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 |
-- |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
4 |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
29 |
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.