MIRA INFORM REPORT
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Report No. : |
356059 |
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Report Date : |
22.12.2015 |
IDENTIFICATION DETAILS
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Name : |
NOVUS GREEN ENERGY SYSTEMS PRIVATE LIMITED |
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Registered
Office : |
Suite 1, 2nd Floor, Siddhi
#100, P and T Colony, Tirumalagherry,
Secunderabad - 500015, Telangana |
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Tel. No.: |
91-40-23418836 / 69993295 / 64583245 / 27743245 |
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Country : |
India |
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Financials (as
on) : |
31.03.2015 |
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Date of
Incorporation : |
17.07.2009 |
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Com. Reg. No.: |
36-064410 |
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Capital
Investment / Paid-up Capital : |
Rs.10.000 Million |
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CIN No.: [Company Identification
No.] |
U40300TG2009PTC064410 |
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IEC No.: |
Not Available |
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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
: |
Service provider of Electric Fitting and Components Solar Inventories,
Distribution Box, Junction Box and Solar PCU. [From Indirect Sources] |
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No. of Employees
: |
85 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (43) |
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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 |
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Maximum Credit Limit : |
USD 110000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject was incorporated in the year 2009. It is into service provider
of electric fittings and components, solar inverters, distribution box,
junction box, and solar units. For the FY 2015, the company has achieved decent sales turnover marked
by profit margin. Operational performance has improved as compared to previous year. However it has recorded huge increase in its borrowings and decline in
its cash accruals as compared to previous year. Trade relation are fair. Business is active. Payments are slow but
correct. In view of extensive industry experience of promoters, 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 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
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Rating |
Long Term Rating = BB- |
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Rating Explanation |
Inadequate credit quality and high credit
risk |
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Date |
05.10.2014 |
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Rating Agency Name |
CRISIL |
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Rating |
Short Term Rating = A4+ |
|
Rating Explanation |
Minimal degree of safety and very high
credit risk |
|
Date |
05.10.2014 |
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.
LOCATIONS
|
Registered Office : |
Suite 1, 2nd Floor, Siddhi
#100, P and T Colony, Tirumalagherry,
Secunderabad - 500015, Telangana, India |
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Tel. No.: |
91-40-23418836 / 69993295 / 64583245 / 27743245 |
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Mobile No.: |
91-7093006669 / 8889003332 (Mr. Praveen Penchala) |
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Fax No.: |
91-40-40045515 |
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E-Mail : |
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Website : |
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Location : |
Owned |
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Locality : |
Commercial |
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Regional Office 1 : |
Qtr No. 04, North City, Behind Dolphin Pride, Vidan Sabha Road,
Raipur-492001, Chhattisgarh, India |
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Tel No.: |
91-771-6463245 |
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Email Id.: |
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Regional Office 2 : |
Chennai |
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Tel No.: |
91-9500-081-841 |
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Regional Office 3 : |
North-Ex Mall, Sector-9, Rohini, Delhi – 110085, India |
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Tel No.: |
91-9717-869-494 |
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Email : |
DIRECTORS
As on 31.03.2015
|
Name : |
Mr. Anshuman Yenigalla |
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Designation : |
Managing Director |
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Address : |
Plot No. 100, P and T Colony, Tirumalagherry, Secunderabad - 500015,
Andhra Pradesh, India |
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Date of Birth/Age : |
25.06.1984 |
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Date of Appointment : |
01.12.2011 |
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DIN No.: |
02258999 |
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Other Directorship:
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Name : |
Mr. Venkata Ravindra Yenigalla |
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Designation : |
Director |
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Address : |
F24, Falguni, R and D Defence Enclave , Sikh Village, Secunderabad, 500009, Andhra Pradesh, India |
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Date of Birth/Age : |
12.12.1963 |
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Date of Appointment : |
17.07.2009 |
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DIN No.: |
02259077 |
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Other
Directorship:
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Name : |
Mr. Ramchand Kolli |
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Designation : |
Additional Director |
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Address : |
2-99, Gitam College Road, Yendada, Visakhapatnam Urban - 530045, Andhra Pradesh, India |
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Date of Appointment : |
14.02.2015 |
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DIN No.: |
06989939 |
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Other Directorship:
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MAJOR SHAREHOLDERS
As on 31.03.2015
|
Names of Shareholders |
No. of Shares |
%age
holding |
|
Anshuman Yenigalla |
770000 |
77.00 |
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Ravindra Venkata Yenigalla |
207000 |
20.70 |
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Jhancy Yenigalla |
23000 |
2.30 |
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Total |
1000000 |
100.00 |
As ON 03.08.2015
|
Names of Allottees |
|
No. of Shares |
|
Ambariclo ud, Inc |
|
50512 |
|
Mayur Mehta |
|
99950 |
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Total |
|
150462 |
Equity Share Break up (Percentage of Total Equity)
As on 25.08.2014
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Service provider of Electric Fitting and Components Solar Inventories,
Distribution Box, Junction Box and Solar PCU. [From Indirect Sources] |
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Products : |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
Not Available |
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Imports : |
Not Available |
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Terms : |
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Selling : |
Cash and Credit (30,60,90 Days) |
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Purchasing : |
Cash and Credit (30,60,90 Days) |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
End Users, OEM’s
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No. of Employees : |
85 (Approximately) |
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Bankers : |
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Facilities : |
(Rs.
In Million)
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Auditors : |
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Name : |
M M Reddy and Company Chartered Accountants |
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Address 1: |
G-8, Amruthaville Apartment, Right Wing, Opposite Yasodha Hospital, Rajbhavan Road, Somajiguda, Hyderabad – 500082, Telangana, India |
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Email Id.: |
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Address 2: |
#889, 2nd Cross, 6th main, 7th Sector, HSR Layout, Bangalore-500102, Karnataka, India |
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Tel. No.: |
91-40-40272617 91-80-2684123 |
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Mobile No. : |
91-9391015637 9008100228 |
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Fax No.: |
91-40-23418836 |
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PAN N Income-tax PAN of auditor or auditor's firm : |
AASFM5440N |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Associates/Subsidiaries : |
Not Available |
CAPITAL STRUCTURE
After 30.09.2015
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1500000 |
Equity Shares |
Rs.10/- each |
Rs.150.000 Million |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
1150462 |
Equity Shares |
Rs.10/- each |
Rs.11.505 Million |
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As on 31.03.2015
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
1000000 |
Equity Shares |
Rs.10/- each |
Rs.10.000 Million |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
1000000 |
Equity Shares |
Rs.10/- each |
Rs.10.000 Million |
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FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED
BALANCE SHEET
|
SOURCES
OF FUNDS |
31.03.2015 |
31.03.2014 |
31.03.2013 |
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|
|
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I.
EQUITY AND LIABILITIES |
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(1)Shareholders' Funds |
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(a) Share Capital |
10.000 |
10.000 |
4.600 |
|
(b) Reserves & Surplus |
27.093 |
21.391 |
12.577 |
|
(c) Money received against
share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
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Total
Shareholders’ Funds (1) + (2) |
37.093 |
31.391 |
17.177 |
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|
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(3) Non-Current Liabilities |
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|
|
|
(a) long-term borrowings |
16.377 |
2.736 |
4.121 |
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(b) Deferred tax liabilities
(Net) |
0.697 |
2.282 |
0.385 |
|
(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) |
17.074 |
5.018 |
4.506 |
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(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
29.579 |
20.240 |
18.015 |
|
(b) Trade payables |
79.297 |
35.990 |
20.905 |
|
(c) Other current liabilities |
2.637 |
2.929 |
4.079 |
|
(d) Short-term provisions |
19.362 |
21.950 |
0.612 |
|
Total
Current Liabilities (4) |
130.875 |
81.109 |
43.611 |
|
|
|
|
|
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TOTAL |
185.042 |
117.518 |
65.294 |
|
|
|
|
|
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II.
ASSETS |
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|
|
|
(1) Non-current assets |
|
|
|
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(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
10.420 |
11.307 |
7.356 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
(iv) Intangible assets under
development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
0.000 |
0.000 |
0.000 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.005 |
|
Total
Non-Current Assets |
10.420 |
11.307 |
7.361 |
|
|
|
|
|
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(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
68.457 |
8.897 |
4.510 |
|
(c) Trade receivables |
79.646 |
64.238 |
7.677 |
|
(d) Cash and cash equivalents |
4.094 |
5.182 |
8.602 |
|
(e) Short-term loans and
advances |
2.547 |
0.918 |
17.557 |
|
(f) Other current assets |
19.878 |
26.976 |
19.587 |
|
Total
Current Assets |
174.622 |
106.211 |
57.933 |
|
|
|
|
|
|
TOTAL |
185.042 |
117.518 |
65.294 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
|
SALES |
|
|
|
|
|
Revenue from Operations |
186.113 |
161.810 |
244.079 |
|
|
Other Income |
0.186 |
2.030 |
0.081 |
|
|
Increase / Decrease in Stock |
33.631 |
0.000 |
(39.345) |
|
|
TOTAL
(A) |
219.930 |
163.840 |
204.815 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
161.699 |
107.095 |
138.069 |
|
|
Other Direct Expenses |
6.920 |
12.403 |
23.459 |
|
|
Personal Costs |
23.225 |
18.976 |
10.111 |
|
|
Administrative and Selling
Expenses |
14.209 |
10.679 |
16.181 |
|
|
Preliminary Expenses Written
Off |
0.000 |
0.005 |
0.005 |
|
|
TOTAL
(B) |
206.053 |
149.158 |
187.825 |
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX, DEPRECIATION
AND AMORTISATION (C) |
13.877 |
14.682 |
16.990 |
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
4.006 |
4.066 |
1.799 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
9.871 |
10.616 |
15.191 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION (F) |
3.117 |
2.375 |
1.366 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX (E-F) (G) |
6.754 |
8.241 |
13.825 |
|
|
|
|
|
|
|
Less |
TAX (H) |
1.052 |
4.826 |
4.272 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX (G-H) (I) |
5.702 |
3.415 |
9.553 |
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD (K) |
15.992 |
12.577 |
3.024 |
|
|
|
|
|
|
|
|
Balance
Carried to the B/S |
21.694 |
15.992 |
12.577 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
5.70 |
3.41 |
21.00 |
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
Current Maturities of Long term debt |
NA |
NA |
NA |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net cash flow from operating activity |
NA |
NA |
NA |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
Net Profit Margin (PAT / Sales) |
(%) |
3.06 |
2.11 |
3.91 |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
7.46 |
9.07 |
6.96 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
3.65 |
7.01 |
21.17 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.18 |
0.26 |
0.80 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
1.24 |
0.73 |
1.29 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.33 |
1.31 |
1.33 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2013 |
31.03.2014 |
31.03.2015 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Share Capital |
4.600 |
10.000 |
10.000 |
|
Reserves & Surplus |
12.577 |
21.391 |
27.093 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
17.177 |
31.391 |
37.093 |
|
|
|
|
|
|
long-term borrowings |
4.121 |
2.736 |
16.377 |
|
Short term borrowings |
18.015 |
20.240 |
29.579 |
|
Total
borrowings |
22.136 |
22.976 |
45.956 |
|
Debt/Equity
ratio |
1.289 |
0.732 |
1.239 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2013 |
31.03.2014 |
31.03.2015 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Sales |
244.079 |
161.810 |
186.113 |
|
|
|
(33.706) |
15.019 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2013 |
31.03.2014 |
31.03.2015 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Sales |
244.079 |
161.810 |
186.113 |
|
Profit |
9.553 |
3.415 |
5.702 |
|
|
3.91% |
2.11% |
3.06% |
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 |
Yes |
|
17 |
Details of sister concerns |
No |
|
18 |
Major suppliers |
Yes |
|
19 |
Major customers |
Yes |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
Yes |
|
22 |
Conduct of the banking account |
-- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
Yes |
|
26 |
Turnover of firm for last three years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
Yes |
|
32 |
Litigations that the firm/promoter
involved in |
-- |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
Yes |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
UNSECURED LOAN
(Rs.
In Million)
|
Particulars |
As
on 31.03.2015 |
As
on 31.03.2014 |
|
LONG TERM
BORROWING |
|
|
|
HDFC Bank |
1.846 |
0.000 |
|
From Directors |
12.340 |
0.068 |
|
Total |
14.186 |
0.068 |
INDEX
OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
10349542 |
25/11/2014 * |
40,000,000.00 |
BANK OF MAHARASHTRA |
5-1-514/VIVEKA VARDHANI COLLEGE ROAD, JAMBAGH, HYDERABAD, TELANGANA - 500095, INDIA |
C39079017 |
* Date of charge modification
FIXED ASSETS
- Tools and Testing Equipment
- Furniture and Fixture
- Computer and Peripherals
- Office Equipment
- Hero Honda Pleasure
- Mobile Phone
- Solar Photovoltaic Power System
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.66.32 |
|
|
1 |
Rs.98.99 |
|
Euro |
1 |
Rs.72.13 |
INFORMATION DETAILS
|
Analysis Done by
: |
AMR |
|
|
|
|
Report Prepared
by : |
GEET |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILITY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
43 |
This score serves as a reference to assess
SC’s credit risk and to set the amount of credit to be extended. It is
calculated from a composite of weighted scores obtained from each of the major sections
of this report. The assessed factors and their relative weights (as indicated
through %) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend (10%) Operational size
(10%)
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General unfavourable
factors will not cause fatal effect. Satisfactory capability for payment of
interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with full
security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
-- |
NB |
New Business |
-- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or
its officials.