MIRA INFORM REPORT
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Report No. : |
305598 |
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Report Date : |
02.02.2015 |
IDENTIFICATION DETAILS
|
Name : |
ASHUTOSH FIBRE PRIVATE LIMITED |
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Registered
Office : |
11-B, New Cloth Markets, O/S Raipur Gate, Ahmedabad – 380002, Gujarat |
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Country : |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
21.05.1985 |
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Com. Reg. No.: |
04-007831 |
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Capital Investment
/ Paid-up Capital : |
Rs.17.500 Millions |
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CIN No.: [Company Identification
No.] |
U24299GJ1985PTC007831 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
AHMA03982G AHMA00136D |
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PAN No.: [Permanent Account No.] |
AABCA8054E |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer, Exporter and Importer of Technical Textile Yarns. |
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No. of Employees
: |
200 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (28) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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Payment Behaviour : |
Slow but Correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate track. The rating reflects moderate financial risk profile marked by low
reserves level and increased in the borrowings of the company during FY 2014. However, trade relations are reported as fair. Business is active.
Payment terms are reported to be slow but correct. The company can be considered for business dealings 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 |
CARE |
|
Rating |
Long term bank facilities = B+ |
|
Rating Explanation |
High risk of default |
|
Date |
10.04.2014 |
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Rating Agency Name |
CARE |
|
Rating |
Short term bank facilities = A4+ |
|
Rating Explanation |
Minimal degree of safety. It carry very high credit risk. |
|
Date |
10.04.2014 |
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
31-03-2014.
INFORMATION PARTED BY
|
Name : |
Mr. Siddharth Prakashbhaio Patel |
|
Designation : |
Director |
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Contact No.: |
91-79-22131749 |
|
Date : |
30.01.2015 |
LOCATIONS
|
Registered Office : |
11-B, New Cloth Markets, O/S Raipur Gate, Ahmedabad – 380002, Gujarat,
India |
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Tel. No.: |
91-79-22170909/ 22131749 |
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Fax No.: |
91-79-22138647 |
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E-Mail : |
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Website : |
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Factory : |
SSMI Compound, Station Road, Petlad, Anand – 388450, Gujarat, India |
DIRECTORS
AS ON 01.07.2014
|
Name : |
Mr. Siddharth Prakashbhaio Patel |
|
Designation : |
Director |
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Address : |
Divya Dham Bunglow, Near Textile Traders Co-Operative Bank, Mithakalisix
Roads, Ahmedabad – 380006, Gujarat, India |
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Date of Birth/Age : |
09.11.1978 |
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Date of Appointment : |
01.08.2007 |
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DIN No.: |
01477471 |
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Name : |
Mr. Abhishek Rajendra Agarwal |
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Designation : |
Director |
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Address : |
89/2, Hirabhai Market, Kankaria, Ahmedabad – 380006, Gujarat, India |
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Date of Birth/Age : |
13.12.1984 |
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Date of Appointment : |
08.07.2011 |
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DIN No.: |
01567158 |
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Name : |
Mr. Vinod Shankarlal Agarwal |
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Designation : |
Director |
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Address : |
1, Radhanpur Society, Swami-Narayan Temple, Rambug, Ahmedabad –
380008, Gujarat, India |
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Date of Birth/Age : |
25.11.1962 |
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Date of Appointment : |
08.07.2011 |
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DIN No.: |
00614402 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 01.07.2014
|
Names of Shareholders |
|
No. of Shares |
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Pravinchandra Purushottamdas Patel |
|
1037 |
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Hasmukhbhai Purshottamdas Patel |
|
798 |
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Prakashbhai Purshottamdas Patel |
|
238 |
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Shyamsunderbhai Purshottamdas Patel |
|
466 |
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Chitali Malavbhai Patel |
|
201 |
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Meghnaben Swapnilbhai Patel |
|
439 |
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Siddharth Prakashbhai Patel |
|
1000 |
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Rajbhai shyamsunder Patel |
|
772 |
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Dipakbhai N. Katpitia |
|
1 |
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Dipakbhai N. Katpitia as karta of Dipakbhai Katpitia’s HUF |
|
1 |
|
Sanjay Thakorlal Patel |
|
48 |
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Abhishek Rajendra Agarwal |
|
900 |
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Vinod Shankarlal Agarwal |
|
1000 |
|
Rameshwaram Metals (Private) Limited, India |
|
1000 |
|
Shree Bajrangbali Intermediate and Dyechem (Private) Limited, India |
|
1700 |
|
R. K. Agarwal Trading Company (Private) Limited, India |
|
1700 |
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Niraj Agarwal |
|
1700 |
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Pramodkumar S. Agarwal |
|
750 |
|
Prahash Fin Stock Private Limited, India |
|
3749 |
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|
|
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Total |
|
17500 |
AS ON 01.07.2014
Equity Shares Break Up
|
Category |
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Percentage |
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Directors or relatives of directors |
|
17.00 |
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Other top fifty shareholders |
|
83.00 |
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Total
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|
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer, Exporter and Importer of Technical Textile Yarns. |
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Brand Names : |
Not Divulged |
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Agencies Held : |
Not Divulged |
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Exports : |
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Products : |
Finished Goods |
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Countries : |
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Imports : |
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Products : |
Raw Material |
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Countries : |
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Terms : |
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Selling : |
Cash, L/C and Credit |
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Purchasing : |
Cash, L/C and Credit |
PRODUCTION STATUS: NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
Reliance Mamta Energy Private Limited Luft Power Ashu Enterprises Goraj Automation Private Limited |
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Customers : |
Wholesaler, Retailers and Manufacturer
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No. of Employees : |
200 (Approximately) |
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Bankers : |
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Facilities : |
Maturity Profile of Long Term Loans are
as set out below:
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Banking Relations
: |
-- |
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Auditors : |
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Name : |
Shah and Patel Chartered Accountants |
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Address : |
5-B, Vardan Exclusive, Near Vimal House, Station Road, Navrangpura,
Ahmedabad – 380009, Gujarat, India |
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PAN No.: |
AAXFS2204B |
CAPITAL STRUCTURE
AS ON 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
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|
|
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|
17500 |
Equity Share |
Rs.1000/- each |
Rs.17.500 Millions |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
|
|
|
|
17500 |
Equity Share |
Rs.1000/- each |
Rs.17.500 Millions |
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FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
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I.
EQUITY AND LIABILITIES |
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(1)Shareholders' Funds |
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(a) Share Capital |
17.500 |
17.500 |
11.500 |
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(b) Reserves &
Surplus |
8.991 |
8.529 |
5.843 |
|
(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 |
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Total Shareholders’ Funds
(1) + (2) |
26.491 |
26.029 |
17.343 |
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(3) Non-Current
Liabilities |
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(a) long-term borrowings |
135.672 |
61.115 |
56.810 |
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(b) Deferred tax
liabilities (Net) |
5.367 |
2.298 |
1.245 |
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(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
0.000 |
0.000 |
0.000 |
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Total Non-current
Liabilities (3) |
141.039 |
63.413 |
58.055 |
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(4) Current Liabilities |
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(a) Short term borrowings |
12.721 |
12.256 |
9.817 |
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(b) Trade payables |
13.870 |
4.316 |
3.303 |
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(c) Other current
liabilities |
23.792 |
12.728 |
7.735 |
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(d) Short-term provisions |
2.380 |
2.075 |
1.415 |
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Total Current Liabilities
(4) |
52.763 |
31.375 |
22.270 |
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TOTAL |
220.293 |
120.817 |
97.668 |
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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 |
151.600 |
85.860 |
63.121 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
8.408 |
1.892 |
3.977 |
|
(iv) Intangible assets
under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
0.480 |
0.480 |
0.480 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
1.207 |
1.135 |
1.117 |
|
(e) Other Non-current
assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
161.695 |
89.367 |
68.695 |
|
|
|
|
|
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(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
11.564 |
8.355 |
10.168 |
|
(c) Trade receivables |
28.763 |
12.321 |
8.479 |
|
(d) Cash and cash
equivalents |
9.324 |
3.737 |
2.831 |
|
(e) Short-term loans and
advances |
8.947 |
7.037 |
7.495 |
|
(f) Other current assets |
0.000 |
0.000 |
0.000 |
|
Total Current Assets |
58.598 |
31.450 |
28.973 |
|
|
|
|
|
|
TOTAL |
220.293 |
120.817 |
97.668 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
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GROSS INCOME |
185.008 |
137.587 |
91.272 |
|
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PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
19.761 |
14.273 |
9.594 |
|
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|
Less/ Add |
DEPRECIATION/
AMORTISATION |
14.183 |
8.895 |
6.569 |
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PROFIT BEFORE
TAX |
5.578 |
5.378 |
3.025 |
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Less |
TAX |
3.069 |
1.054 |
1.019 |
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PROFIT AFTER TAX
|
2.509 |
4.324 |
2.006 |
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EARNINGS IN
FOREIGN CURRENCY |
|
|
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Export Earnings |
50.835 |
43.435 |
11.281 |
|
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TOTAL EARNINGS |
|
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|
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|
Earnings Per
Share (Rs.) |
143.37 |
247.09 |
114.63 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.64 |
4.54 |
3.25 |
|
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|
Return on Investment (ROI) (PBT/Networth) |
|
0.21 |
0.21 |
0.17 |
|
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|
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|
Debt Equity Ratio (Total Liability/Networth) |
|
5.60 |
2.82 |
3.84 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.11 |
1.00 |
1.30 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Millions) |
(Rs. In Millions) |
(Rs. In Millions) |
|
Share Capital |
11.500 |
17.500 |
17.500 |
|
Reserves & Surplus |
5.843 |
8.529 |
8.991 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net worth |
17.343 |
26.029 |
26.491 |
|
|
|
|
|
|
long-term borrowings |
56.810 |
61.115 |
135.672 |
|
Short term borrowings |
9.817 |
12.256 |
12.721 |
|
Total borrowings |
66.627 |
73.371 |
148.393 |
|
Debt/Equity ratio |
3.842 |
2.819 |
5.602 |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Millions) |
(Rs. In Millions) |
(Rs. In Millions) |
|
Sales |
91.272 |
137.587 |
185.008 |
|
|
|
50.744 |
34.466 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Millions) |
(Rs. In Millions) |
(Rs. In Millions) |
|
Sales |
91.272 |
137.587 |
185.008 |
|
Profit |
2.006 |
4.324 |
2.509 |
|
|
2.20% |
3.14% |
1.36% |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES
OF LONG-TERM DEBT DETAILS:
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
(Rs. In Millions) |
||
|
Current maturites of Long Term Debts-OBC-TL-1 |
7.200 |
7.200 |
7.200
|
|
Current maturites of Long Term Debts-OBC-TL-2 |
5.400 |
4.728 |
0.000 |
|
Current maturites of Long Term Debts-OBC-TL-3 |
10.000 |
0.000 |
0.000 |
|
Current maturites of Long Term Debts-Kotak Mahindra Prime Limited |
0.247 |
0.217 |
0.193 |
|
Total |
22.847 |
12.145 |
7.393
|
|
Sr. No. |
Check List by Info Agents |
Available in
Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
Yes |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact
person |
Yes |
|
11] |
Turnover of firm for last
three years |
Yes |
|
12] |
Profitability for last
three years |
Yes |
|
13] |
Reasons for variation
<> 20% |
-- |
|
14] |
Estimation for coming
financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
No |
|
17] |
Major suppliers |
Yes |
|
18] |
Major customers |
Yes |
|
19] |
Payments terms |
Yes |
|
20] |
Export / Import details (if
applicable) |
Yes |
|
21] |
Market information |
-- |
|
22] |
Litigations that the firm
/ promoter involved in |
-- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking
account |
-- |
|
26] |
Buyer visit details |
-- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
Yes |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
Date of Birth of Proprietor/Partner/Director,
if available |
Yes |
|
32] |
PAN of
Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
10519796 |
06/08/2014 |
11,000,000.00 |
ORIENTAL BANK OF COMMERCE |
HOTEL MEGHDOOT BUILDING, STATION ROAD, AHMEDABAD, |
C20507620 |
|
2 |
10451645 |
08/08/2013 |
50,000,000.00 |
ORIENTAL BANK OF COMMERCE |
HOTEL MEGHDOOT BUILDING, STATION ROAD BUILDING, A |
B85994457 |
|
3 |
10365657 |
06/08/2014 * |
46,000,000.00 |
ORIENTAL BANK OF COMMERCE |
HOTEL MEGHDOOT BUILDING, STATION ROAD, AHMEDABAD, |
C20503629 |
|
4 |
10365656 |
16/06/2012 |
17,000,000.00 |
ORIENTAL BANK OF COMMERCE |
HOTEL MEGHDOOT BUILDING, STATION ROAD, AHMEDABAD, |
B43694785 |
|
5 |
10246632 |
10/07/2012 * |
10,000,000.00 |
ORIENTAL BANK OF COMMERCE |
HOTEL MEGHDOOT BUILDING, STATION ROAD, AHMEDABAD, |
B43714260 |
|
6 |
10246629 |
14/10/2010 |
36,000,000.00 |
ORIENTAL BANK OF COMMERCE |
HOTEL MEGHDOOT BUILDING, STATION ROAD, AHMEDABAD, |
A96646047 |
* Date of charge modification
REVIEW OF OPERATION:
During the year, the company’s own sales were to the tune of Rs.11.783 Millions (previous year Rs.92.026 Millions). The job activities to the tune of Rs.58.210 Millions (previous year Rs.44.703 Millions) were carried out by the Company. The Company incurred Net profit of Rs. 5.578 Millions after providing Depreciation to the tune of Rs 14.183 Millions. The Company carried out the production of spun yarn and Dref Spun Yarn. It also undertook the job work of the said products more particularly 2/15 Ring Spun Yarn, 2/24 Ring Spun Yarn and 0.8 Dref Yarn. The Company exported to the tune of Rs. 50.835 Millions 46 Tex Core Yarn comprising of Technical fibres and 6/24 Ring Spun yarn.
Products offered by the company, in view of the better and competitive quality , they found favour with the customers in domestic & international market too . Various technical textile products are consumed by different industries like automotive, healthcare, infrastructure, oil & petroleum, etc. With increased investments in these industry sectors, higher consumption and growing exports, the industrial sector is poised for a considerable growth. This will further increase the consumption of technical textiles. All these spell very good feature for technical textile Industry. Fully cognizant of the market potential of technical textiles in India, the Ministry of Textiles has taken a series of measures to further develop this sector in India. Ministry of Textiles launched the Technology Mission on Technical Textiles (TMTT) with two Mini- Missions for a period of five years with a fund outlay of Rs. 2000.000 Millions during December 2010.
Mini-Mission- I: The objective of Mini Mission I is standardization, creating common testing facilities with national / international accreditation, indigenous development of prototypes and maintaining a resource centre with I.T. infrastructure.
Mini-Mission- II: The objective of Mini Mission II is to provide support for the development of domestic & export markets for technical textiles .Gujarat Textile Policy 2012, with support to entire value chain Ginning, Spinning, weaving, Dyeing and Processing and Technical Textiles for new investment and expansion is also proving profitable to the company.
UNSECURED LOAN
|
Particulars |
31.03.2014 (Rs.
in Millions) |
31.03.2013 (Rs.
in Millions) |
|
Long-term
Borrowings |
|
|
|
Inter Corporate Deposits |
68.700 |
26.600 |
|
Loans and advances from related parties |
10.405 |
4.450 |
|
Short-term
borrowings |
|
|
|
Inter
Corporate Deposits |
4.384 |
0.875 |
|
Loans
and advances from related parties |
0.070 |
0.427 |
|
Total |
83.559 |
32.352 |
FIXED ASSETS
· Plant and Machinery
· Electric Installations
· Computers
· Furniture and Dead Stock
· Factory Building
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.61.76 |
|
|
1 |
Rs.93.13 |
|
Euro |
1 |
Rs.70.02 |
INFORMATION DETAILS
|
Information
Gathered by : |
DPA |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
SNT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
2 |
|
--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 |
|
|
|
|
|
TOTAL |
|
28 |
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.