MIRA INFORM REPORT
|
Report No. : |
308549 |
|
Report Date : |
19.02.2015 |
IDENTIFICATION DETAILS
|
Name : |
KRISHNA SHEET PROCESSORS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
801, Business Classic, 8th Floor, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
10.04.1995 |
|
|
|
|
Com. Reg. No.: |
11-087327 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 31.220 millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U27100MH1995PTC087327 |
|
|
|
|
IEC No.: |
Not Available |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMK13053F |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACK9040M |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Trading and Processing of all types of M.S. Iron and Steel. |
|
|
|
|
No. of Employees
: |
25 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (46) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a part of the Krishna group. It is a well-established
company having satisfactory track. Management has filed form 66 depicting compliance certificate for FY14,
whereas failed to file any other documents with the statutory authorities. As per available, the company possesses an above average financial
profile marked by a healthy networth and comfortable gearing during 2013. The ratings also take into consideration the susceptibility of the
profit margin due to volatility in steel prices and exposure to intense
competition. However, trade relations are fair. Business is active. Payment terms
are reported as usually correct. In view of experienced promoters and its established clientele and
supplier bas, the subject 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
|
Rating Agency Name |
CRISIL |
|
Rating |
Long term Rating = BBB- |
|
Rating Explanation |
Moderate degree of safety and moderate credit risk. |
|
Date |
07.01.2014 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short term Rating = A3 |
|
Rating Explanation |
Moderate degree of safety and higher credit risk. |
|
Date |
07.01.2014 |
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. Biharisaran Khandelwal |
|
Designation : |
Director |
|
Contact No.: |
91-22-23453411 |
|
Date : |
17.02.2015 |
LOCATIONS
|
Registered Office : |
801, Business Classic, 8th Floor, |
|
Tel. No.: |
91-22-23453411 / 12 / 23411729 |
|
Mobile No.: |
91-9322220809 (Mr. Gupta) |
|
Fax No.: |
91-22-23411739 / 40031000 |
|
E-Mail : |
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|
Website : |
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|
Location : |
Owned |
|
|
|
|
Warehouse : |
C-26, M.I.D.C., Taloja, Navi Mumbai, |
DIRECTORS
As on 30.09.2013
|
Name : |
Mr. Kapilkumar Rupchand Agarwal |
|
Designation : |
Director |
|
Address : |
E-403, Pleasant Park, Plot No.60, |
|
Date of Birth/Age : |
20.09.1964 |
|
Date of Appointment : |
10.04.1995 |
|
DIN No.: |
00216944 |
|
PAN No.: |
AACPA0977E |
|
|
|
|
Name : |
Mr. Dharampal Rameshwar Dass Gupta |
|
Designation : |
Director |
|
Address : |
Row House No.13, Village Naupada Junction of LBS Marg, Eastern
Highway, Thane – 400 602, |
|
Date of Birth/Age : |
10.02.1948 |
|
Date of Appointment : |
10.04.1995 |
|
DIN No.: |
00216983 |
|
PAN No.: |
ABTPG1622L |
|
|
|
|
Name : |
Mr. Biharisaran Babulal Khandelwal |
|
Designation : |
Director |
|
Address : |
A-602, |
|
Date of Birth/Age : |
20.10.1947 |
|
Date of Appointment : |
10.04.1995 |
|
DIN No.: |
00217021 |
|
PAN No.: |
AACPK5606Q |
MAJOR SHAREHOLDERS
As on 30.09.2013
|
Names of Shareholders |
No. of Shares |
|
Biharisaran Khandelwal |
19300 |
|
Biharisaran Khandelwal (HUF) |
7000 |
|
Shashikala B. Khandelwal |
35250 |
|
Sheenu V. Khandelwal |
31500 |
|
Vikram B. Khandelwal |
11000 |
|
Kapil Kumar Agarwal |
27000 |
|
Bindu K. Agarwal |
47550 |
|
Dharampal R. Gupta |
3800 |
|
Rajendrakumar Singhal |
100 |
|
Rohit D. Gupta |
23000 |
|
Premier Soya Limited, |
23495 |
|
Indo Con Core Private Limited, |
11830 |
|
Smita R. Gupta |
4100 |
|
Sudha D. Gupta |
300 |
|
Krishna Coil Cutter Private Limited, |
66975 |
|
Total |
312200 |
As on 30.09.2013
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Bodies corporate |
35.00 |
|
Directors or relatives of Directors |
65.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Trading and Processing of all types of M.S. Iron and Steel. |
|
|
|
|
Products : |
|
|
|
|
|
Brand Names : |
Not Available |
|
|
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Agencies Held : |
Not Available |
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Exports : |
Not Available |
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Imports : |
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Products : |
Finished Goods |
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Countries : |
|
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Terms : |
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Selling : |
Cash, L/C and Credit |
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|
|
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Purchasing : |
Cash, L/C and Credit |
PRODUCTION STATUS = NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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No. of Employees : |
25 (Approximately) |
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Bankers : |
|
|
Auditors : |
|
|
Name : |
Thakkar and Somaiya Chartered Accountants |
|
Address : |
101-A/102-B, Giriraj 1st Floor, |
|
PAN No.: |
AAAFT1285G |
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|
|
Memberships : |
Not Available |
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|
|
|
Collaborators : |
Not Available |
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|
|
Associates : |
|
CAPITAL STRUCTURE
As on 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
500000 |
Equity Shares |
Rs.100/- each |
Rs.50.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
312200 |
Equity Shares |
Rs.100/-
each |
Rs.31.220
Millions |
FINANCIAL DATA
[all figures are in
Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
31.220 |
31.220 |
31.220 |
|
(b) Reserves & Surplus |
501.059 |
465.522 |
436.893 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
0.000 |
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
532.279 |
496.742 |
468.113 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
1.098 |
0.482 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(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) |
1.098 |
0.482 |
0.000 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
31.555 |
1.556 |
5.708 |
|
(b) Trade
payables |
469.804 |
314.570 |
250.376 |
|
(c) Other
current liabilities |
153.140 |
173.796 |
381.807 |
|
(d) Short-term
provisions |
16.603 |
13.767 |
27.500 |
|
Total Current
Liabilities (4) |
671.102 |
503.689 |
665.391 |
|
|
|
|
|
|
TOTAL |
1204.479 |
1000.913 |
1133.504 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
48.161 |
49.407 |
48.466 |
|
(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 |
62.631 |
62.631 |
22.631 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
52.084 |
87.853 |
70.022 |
|
(e) Other Non-current
assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
162.876 |
199.891 |
141.119 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
413.107 |
157.301 |
234.639 |
|
(c) Trade
receivables |
416.343 |
335.956 |
405.783 |
|
(d) Cash
and cash equivalents |
130.664 |
141.648 |
112.710 |
|
(e)
Short-term loans and advances |
81.489 |
166.117 |
239.253 |
|
(f) Other
current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
1041.603 |
801.022 |
992.385 |
|
|
|
|
|
|
TOTAL |
1204.479 |
1000.913 |
1133.504 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL |
3032.409 |
2900.056 |
2683.787 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
2978.414 |
2855.170 |
2597.470 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
53.995 |
44.886 |
86.317 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
2.655 |
2.558 |
1.957 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
51.340 |
42.328 |
84.360 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
15.803 |
13.698 |
27.480 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX |
35.537 |
28.630 |
56.880 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
35.000 |
29.000 |
57.500 |
|
|
TOTAL |
35.000 |
29.000 |
57.500 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
113.83 |
91.70 |
182.19 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
|
|
|
|
Net Profit Margin PAT / Total Income |
(%) |
1.17 |
0.99 |
2.12 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
4.50 |
4.51 |
7.59 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.10 |
0.09 |
0.18 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debts/Networth) |
|
31.56 |
1.56 |
5.71 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.55 |
1.59 |
1.49 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Share Capital |
31.220 |
31.220 |
31.220 |
|
Reserves & Surplus |
436.893 |
465.522 |
501.059 |
|
Net
worth |
468.113 |
496.742 |
532.279 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.482 |
1.098 |
|
Short term borrowings |
5.708 |
1.556 |
31.555 |
|
Total
borrowings |
5.708 |
2.038 |
32.653 |
|
Debt/Equity
ratio |
0.012 |
0.004 |
0.061 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Total Income |
2683.787 |
2900.056 |
3032.409 |
|
|
|
8.058 |
4.564 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
2683.787 |
2900.056 |
3032.409 |
|
Profit |
56.880 |
28.630 |
35.537 |
|
|
2.12% |
0.99% |
1.17% |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES OF
LONG-TERM DEBT = NOT AVAILABLE
|
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 |
Yes |
|
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 |
No |
|
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 |
Yes |
|
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 |
90152278 |
30/01/2010 * |
600,000,000.00 |
Bank of Baroda |
Malad West Branch, Shantinath Shoppping Centre, 1st Floor, S. V. Road, Malad West,, Mumbai, Maharashtra - 400064, INDIA |
A79130373 |
|
2 |
80027869 |
30/01/2010 * |
600,000,000.00 |
Bank of Baroda |
Malad West Branch, Shantinath Shoppping Centre, 1st Floor, S. V. Road, Malad West,, Mumbai, Maharashtra - 400064, INDIA |
A79129896 |
UNSECURED LOAN
(Rs.
In Millions)
|
Particular |
As
on 31.03.2013 |
As
on 31.03.2012 |
|
Long-term
borrowings |
|
|
|
Loans and advances from others |
0.198 |
0.052 |
|
Other loans and advances |
0.900 |
0.430 |
|
Short-term
borrowings |
|
|
|
Loans and advances from others |
31.555 |
1.556 |
|
Total |
32.653 |
2.038 |
FIXED ASSETS
- Building
- Plant and Machinery
- Office Equipments
- Computer
- Furniture and Fixtures
- Vehicles
- Motor Car
- Computer
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No records 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.62.24 |
|
|
1 |
Rs.95.57 |
|
Euro |
1 |
Rs.71.00 |
INFORMATION DETAILS
|
Information
Gathered by : |
DIP |
|
|
|
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
PNM |
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 |
5 |
|
--LEVERAGE |
1~10 |
6 |
|
--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 |
|
46 |
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.