MIRA INFORM REPORT
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Report No. : |
355574 |
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Report Date : |
21.12.2015 |
IDENTIFICATION DETAILS
|
Name : |
KOLTE-PATIL REAL ESTATE PRIVATE LIMITED |
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Registered
Office : |
2nd Floor, City Point, Dhole Patil Road, Pune – 411001, Maharashtra |
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Tel. No.: |
91-20-65340015 |
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Country : |
India |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
07.11.2006 |
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Com. Reg. No.: |
11-129191 |
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Capital
Investment / Paid-up Capital : |
Rs. 315.332 Million |
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CIN No.: [Company Identification
No.] |
U70102PN2006PTC129191 |
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IEC No.: |
Not Divulged |
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TAN No.: [Tax Deduction &
Collection Account No.] |
PNEK07434A |
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PAN No.: [Permanent Account No.] |
AACCK9285A |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Subject is engaged in the business of construction and
development of residential and commercial complexes, flats, shopping malls,
etc. (Registered Activity) |
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No. of Employees
: |
Information declined by Management |
RATING & COMMENTS
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MIRA’s Rating : |
Ba (48) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is a subsidiary of required ‘’’Kolte-Patil Developers Limited’’.
It is an established company having satisfactory track. As per Registrar of Companies the date of balance sheet (i.e.
financial filed) is shown as 31.03.2015 but the documents related to the
financials are not been available from any sources. Rating takes into consideration company satisfactory financial profile
backed by strong networth base, healthy reserves position along with
negligible debt and comfortable debt protection metrics. Rating further takes consideration on company experienced promoters
group and decent track record of the company operations. However, rating is constrained on company presence in highly
fragmented reality sector, large working capital intensive nature of
operation and current slowdown in reality sector. Trade relations are fair. Business is active. Payment terms are
reported as usually 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.
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 DECLINED
MANAGEMENT NON-COOPERATIVE
(Contact No: 91-20-65340015/ 66226500)
LOCATIONS
|
Registered Office : |
2nd Floor, City Point, Dhole Patil Road, Pune – 411001, Maharashtra,
India |
|
Tel. No.: |
91-20-65340015 |
|
Fax No.: |
Not Available |
|
E-Mail : |
DIRECTORS
AS ON 12.09.2014
|
Name : |
Mr. Rajesh Anirudha Patil |
|
Designation : |
Director |
|
Address : |
Plot No. 53, Koregaon Park, Pune-411001, Maharashtra,
India |
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Date of Birth/Age : |
05.04.1963 |
|
Date of Appointment : |
07.11.2006 |
|
DIN No.: |
00381866 |
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|
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Name : |
Milind Digambar Kolte |
|
Designation : |
Director |
|
Address : |
118/124 Plot No. 46, Aundh National Society Building Const.,
Pune-411007, Maharashtra, India |
|
Date of Birth/Age : |
16.05.1961 |
|
Date of Appointment : |
07.11.2006 |
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DIN No.: |
00170760 |
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|
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Name : |
Mr. Achyut Narayan Watve |
|
Designation : |
Director |
|
Address : |
Maita 1219 Shivajinagar, Pune – 411004, Maharashtra, India |
|
Date of Birth/Age : |
26.11.1952 |
|
Date of Appointment : |
16.07.2013 |
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DIN No.: |
01179251 |
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|
|
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Name : |
Mr. Arunprakash Srinivasarao Korati |
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Designation : |
Nominee director |
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Address : |
Flat No.302,3rd Floor, Vishal Villa CHS Limited, Shivaji,
Park, Plot 167, Pandurang Naik Marg, Dadar West, Mumbai-400028, Maharashtra,
India |
|
Date of Birth/Age : |
21.05.1966 |
|
Date of Appointment : |
01.11.2012 |
|
DIN No.: |
00027783 |
|
|
|
|
Name : |
Mr. Sunita Kumar Manwani |
|
Designation : |
Nominee director |
|
Address : |
2204, Snowden Peak Neptune Living Point, LBS Marg, Bhandup (West),
Mumbai – 400078, Maharashtra, India |
|
Date of Birth/Age : |
17.01.1972 |
|
Date of Appointment : |
16.07.2013 |
|
DIN No.: |
01839009 |
|
|
|
|
Name : |
Mr. Vinode Thomas |
|
Designation : |
Nominee director |
|
Address : |
501, Jyoti Vidya Cooperative Housing Society, CST Road, Kalina
Santacruz (East), Mumbai – 400098, Maharashtra, India |
|
Date of Birth/Age : |
30.05.1970 |
|
Date of Appointment : |
30.04.2012 |
|
DIN No.: |
01893613 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 31.03.2015
|
Names of Shareholders |
|
No. of Shares |
|
Kolte-Patil Developers Limited, India |
|
16081925 |
|
K2A Residential Limited, Mauritius |
|
15451260 |
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Total |
|
31533185 |
AS ON 12.09.2014
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
49.00 |
|
Bodies
corporate |
51.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in the business of construction and
development of residential and commercial complexes, flats, shopping malls, etc.
(Registered Activity) |
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Products : |
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Brand Names : |
-- |
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Agencies Held : |
-- |
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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 Management |
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Bankers : |
·
ICICI Bank Limited A
Wing, Shangrila Garden,, Bund Garden Road,, Pune - 411001, Maharashtra, India ·
State Bank of India Bund
Garden Branch, 171, Grace Building, Dhole Patil Road,, Pune - 411001,
Maharashtra, India ·
Bank of Rajasthan 579,
Sadashiv Peth, Laxmi Road, Pune - 411030, Maharashtra, India |
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Facilities : |
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Banking
Relations : |
-- |
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Financial Institution : |
· L and T Housing Finance Limited L and T House, Narottam Morarji Marg, Ballard Estate,
Mumbai- 400001, Maharashtra, India |
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Auditors : |
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|
Name : |
SPCM and Associates Chartered Accountants |
|
Address : |
1211/B, Shukrawar Peth, Subhash Nagar, Lane No. 4, Pune - 411 002, Maharashtra, India |
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Income-tax
PAN of auditor or auditor's firm : |
AABFB8864C |
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Memberships : |
-- |
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Collaborators : |
-- |
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Holding company: |
Kolte-Patil Developers Limited, India [L45200PN1991PLC129428] |
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Associate: |
K2A Residential Limited |
CAPITAL STRUCTURE
AFTER 12.09.2014
Authorised Capital : Rs. 450.000 Million
Issued, Subscribed & Paid-up Capital : Rs. 269.388
Million
AS ON 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
44,000,000 |
Equity Shares |
Rs. 10/- each |
Rs. 440.000 Million |
|
1,000,000 |
Preference Shares |
Rs. 10/- each |
Rs. 10.000 Million |
|
|
Total |
|
Rs. 450.000
Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
31,533,185 |
Equity Shares |
Rs. 10/- each |
Rs. 315.332
Million |
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|
|
|
|
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 |
315.332 |
365.332 |
365.332 |
|
(b) Reserves & Surplus |
1489.314 |
1712.721 |
1644.771 |
|
(c) Money received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
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|
(2) Share
Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
1804.646 |
2078.053 |
2010.103 |
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(3)
Non-Current Liabilities |
|
|
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|
(a) Long-term borrowings |
60.994 |
10.546 |
391.567 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.579 |
0.000 |
|
(c)
Other long term liabilities |
0.000 |
0.000 |
0.000 |
|
(d)
long-term provisions |
19.701 |
1.602 |
0.323 |
|
Total
Non-current Liabilities (3) |
80.695 |
12.727 |
391.890 |
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|
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(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
0.000 |
0.366 |
0.000 |
|
(b)
Trade payables |
69.868 |
98.030 |
74.819 |
|
(c)
Other current liabilities |
472.883 |
227.797 |
180.562 |
|
(d)
Short-term provisions |
125.020 |
34.391 |
2.745 |
|
Total
Current Liabilities (4) |
667.771 |
360.584 |
258.126 |
|
|
|
|
|
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TOTAL |
2553.112 |
2451.364 |
2660.119 |
|
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II.
ASSETS |
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|
(1) Non-current assets |
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(a)
Fixed Assets |
|
|
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|
(i)
Tangible assets |
6.381 |
5.242 |
3.297 |
|
(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) |
0.072 |
0.000 |
0.776 |
|
(d) Long-term Loan
and Advances |
3.638 |
0.782 |
0.373 |
|
(e)
Other Non-current assets |
1.161 |
4.324 |
0.000 |
|
Total
Non-Current Assets |
11.252 |
10.348 |
4.446 |
|
|
|
|
|
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(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
20.077 |
5.489 |
|
(b)
Inventories |
2251.290 |
2217.179 |
2606.514 |
|
(c)
Trade receivables |
174.254 |
136.040 |
7.040 |
|
(d)
Cash and cash equivalents |
21.800 |
42.508 |
27.579 |
|
(e)
Short-term loans and advances |
76.411 |
24.096 |
7.686 |
|
(f)
Other current assets |
18.105 |
1.116 |
1.365 |
|
Total
Current Assets |
2541.860 |
2441.016 |
2655.673 |
|
|
|
|
|
|
TOTAL |
2553.112 |
2451.364 |
2660.119 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
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TOTAL |
1059.269 |
966.454 |
14.080 |
|
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Less |
EXPENSES |
|
|
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|
|
|
|
TOTAL |
717.993 |
863.078 |
9.362 |
|
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PROFIT BEFORE
TAX |
341.276 |
103.376 |
4.718 |
|
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Less |
TAX |
114.683 |
35.426 |
0.397 |
|
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PROFIT AFTER TAX
|
226.593 |
67.950 |
4.321 |
|
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|
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|
|
|
|
|
|
Earnings Per
Share (Rs.) |
7.19 |
1.86 |
0.12 |
|
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 |
518.461 |
433.756 |
(83.276) |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Total Income) |
(%) |
21.39 |
7.03 |
30.69 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
13.37 |
4.22 |
0.18 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.19 |
0.05 |
0.00 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.03 |
0.01 |
0.19 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
3.81 |
6.77 |
10.29 |
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 |
365.332 |
365.332 |
315.332 |
|
Reserves & Surplus |
1644.771 |
1712.721 |
1489.314 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
2010.103 |
2078.053 |
1804.646 |
|
|
|
|
|
|
Long-term borrowings |
391.567 |
10.546 |
60.994 |
|
Short term borrowings |
0.000 |
0.366 |
0.000 |
|
Total
borrowings |
391.567 |
10.912 |
60.994 |
|
Debt/Equity
ratio |
0.195 |
0.005 |
0.034 |
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) |
|
Total Income |
14.080 |
966.454 |
1059.269 |
|
|
|
6,764.020 |
9.604 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Total Income |
14.080 |
966.454 |
1059.269 |
|
Profit |
4.321 |
67.950 |
226.593 |
|
|
30.69% |
7.03% |
21.39% |
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 |
No |
|
8 |
Designation of contact person |
No |
|
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 |
No |
|
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 |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
10567929 |
01/04/2015 |
250,000,000.00 |
L&T HOUSING FINANCE LIMITED |
L&T HOUSE, NAROTTAM
MORARJI MARG, BALLARD ESTATE, |
C52924800 |
UNSECURED LOANS
|
PARTICULARS |
31.03.2014 (Rs.
In Million) |
31.03.2013 (Rs.
In Million) |
|
LONG-TERM BORROWINGS |
|
|
|
Loans and advances from others |
0.000 |
10.000 |
|
|
|
|
|
Total |
0.000 |
10.000 |
OPERATIONAL REVIEW:
The company has planned an integrated development in Kharadi to create a haven of luxuries and convenience for you. Adorned with exquisite beautification of landscapes, water garden and podium gardens will raise the bar of expectations of every Puneite. It will be a stunning destination to Live, Work, Shop, Dine and Hangout. All that you wish for- From smart homes to luxurious abodes Project Kharadi has it all.
Downtown is consists of project like Beryl comprising of 2 and 3 BHK apartment ranging from area of 1050-1555 sq. ft. Next is Cheryl comprising of 2 and 3 BHK trendy apartments with the area of 1160-1630 sq. ft. Langston is another project which offers 2 and 3 BHK premium apartment of 1144-1539 sq. ft. Fall in love with nature downtown present Senona with the beauty of nature surrounding you at every beat, Senona is a place where you feel much closer to nature with the own beautiful garden balcony. Spread across 4 acres of land Senona offers 3 BHK area size of 1880-2035 sq. ft.
The Beryl phase -2 project has 65% sold out and expected to be completed by June 2015. The Cheryl phase -2 project is 55% sold out and expected to be completed by May 2015. The Langston project is 80% sold out and expected to be completed by May 2015. The Arissa Avenues is 100% sold out and nearing completion. City vista is the new feather in Downtown. Comprising office space and retail ranging from area 708 to 5000 sq. ft. the project has 60% sold out and possession is December 15 onwards.
BACKGROUND:
Subject is a company registered under a Companies Act, 1956. It was incorporated on 7th November 2006. The company is primarily engaged in the business of construction and development of residential and commercial complexes, flats, shopping malls, etc.
BUY BACK OF SHARES:
During the year, the
Company has bought back 50,00,000 equity shares of Rs. 10 each at a price of
Rs. 100 each. Now, the paid up capital of the company is Rs. 31,53,31,850.
FIXED ASSETS:
Tangible Assets
· Plant and Equipment
· Furniture and Fixtures
· 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 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. 66.42 |
|
|
1 |
Rs. 99.17 |
|
Euro |
1 |
Rs. 72.14 |
INFORMATION DETAILS
|
Information
Gathered by : |
KMN |
|
|
|
|
Analysis Done by
: |
KAS |
|
|
|
|
Report Prepared
by : |
IND |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
|
48 |
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.