MIRA INFORM REPORT
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Report No. : |
308857 |
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Report Date : |
21.02.2015 |
IDENTIFICATION DETAILS
|
Name : |
HAMILTON WRITING INSTRUMENTS PRIVATE LIMITED (w.e.f. 24.08.2007) |
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Formerly Known
As : |
HAMILTON NETWORKS PRIVATE LIMITED |
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Registered
Office : |
Kaiser-I-Hind
Building, 3rd Floor, Currimbhoy Road, Ballard Estate, Mumbai –
400001, Maharashtra |
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Country : |
India |
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Financials (as
on) : |
31.03.2014 |
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Date of Incorporation
: |
06.12.2005 |
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Com. Reg. No.: |
11-157829 |
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Capital
Investment / Paid-up Capital : |
Rs. 117.210
Millions |
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CIN No.: [Company Identification
No.] |
U74130MH2005PTC157829 |
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TAN No.: [Tax Deduction & Collection
Account No.] |
MUMH09461E |
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PAN No.: [Permanent Account No.] |
AABCH6328L |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer and Exporter of Ball Pens, Gel Pens, Super – Premium Writing
Instruments and Stationery Products. |
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No. of Employees
: |
Information declined by management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (50) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 an established company having satisfactory track record. Reserves level of the company is low. However, the rating takes into
consideration the company operational and financial support receives to the
subject from its parent company. Further the rating also takes into consideration the company healthy
demand in the writing instruments segment. Trade relations are reported as fair. Business is active. Payment
terms are reported to be usually correct. The company can be considered normal 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: “A” |
|
Rating Explanation |
Adequate degree of safety and carry low
credit risk. |
|
Date |
12.02.2015 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short term rating: “A1” |
|
Rating Explanation |
Very strong degree of safety and carry
lowest credit risk. |
|
Date |
12.02.2015 |
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 DECLINED
MANAGEMENT NON-COOPERATIVE (Tel. No.: 91-22-22624444/ 61817474)
LOCATIONS
|
Registered Office : |
Kaiser-I-Hind
Building, 3rd Floor, Currimbhoy Road, Ballard Estate, Mumbai –
400001, Maharashtra, India |
|
Tel. No.: |
91-22-61817474/ 22624444 |
|
Fax No.: |
Not Available |
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E-Mail : |
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Website : |
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Head Office: |
4th Floor, Asian Building, R. Kamani Marg, Ballard Estate,
Mumbai – 400001, Maharashtra, India |
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Branch Office: |
Plot No. 134-A, B, Government Industrial Estate, Charkop, Kandivali
(West), Mumbai – 400067, Maharashtra, India |
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Tel. No.: |
91-22-61817474 |
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Fax No.: |
91-22-61817494 |
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E-Mail : |
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Factory: |
Located at:
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DIRECTORS
As on 03.09.2014
|
Name : |
Mr. Ajay Dinesh Vaghani |
|
Designation : |
Director |
|
Address : |
203, Panorama, Third Floor, Walkeshwar, Mumbai - 400006, |
|
Date of Birth/Age : |
08.08.1966 |
|
Experience : |
20 Years |
|
Date of Appointment : |
06.12.2005 |
|
DIN No.: |
00186764 |
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|
|
|
Name : |
Manisha Ajay Vaghani |
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Designation : |
Director |
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Address : |
203, Panorama, Third Floor, Walkeshwar, Mumbai - 400006, Maharashtra,
India |
|
Date of Birth/Age : |
19.04.1967 |
|
Date of Appointment : |
06.12.2005 |
|
DIN No.: |
00202603 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 03.09.2014
|
Names of Shareholders |
No. of Shares |
|
Ajay Dinesh Vaghani |
404999 |
|
Manisha Vaghani |
185000 |
|
Hamilton Housewares Private Limited, |
9370000 |
|
Hamilton Consultants Private Limited, |
350000 |
|
Ajay D. Vaghani HUF |
210000 |
|
Ananya Realty Private Limited, |
100000 |
|
Annandita Relaty Private Limited, |
100000 |
|
United International General Trading FZE, UAE |
1001000 |
|
Minal Madhup Vaghani |
1 |
|
Total |
11721000 |
As on 03.09.2014
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
Foreign holdings (Foreign institutional investor(s),
Foreign companie(s) Foreign financial institution(s), Non-resident Indian(s)
or Overseas Corporate bodies or Others |
8.54 |
|
Bodies corporate |
84.63 |
|
Directors or relatives of Directors |
6.83 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Ball Pens, Gel Pens, Super – Premium
Writing Instruments and Stationery Products. |
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Brand Names : |
-- |
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Agencies Held : |
-- |
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Exports : |
-- |
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Imports : |
-- |
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Terms : |
-- |
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 : |
· State Bank of India, Overseas Branch, World Trade Centre, Cuffe Parade, Mumbai - 400005, Maharashtra, India ·
ICICI Bank Limited, ICICI Bank Towers, Bandra
Kurla Complex, Mumbai - 400051, Maharashtra, India |
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Facilities : |
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Auditors : |
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Name : |
Mehta Chokshi and Shah Chartered Accountants |
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Address : |
A - 101 , Aadeshwar, S.V.P. Road, Borwali (West), Mumbai – 400092, Maharashtra, India |
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Income-tax
PAN of auditor or auditor's firm : |
AAAFM5817F |
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Memberships : |
-- |
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Collaborators : |
-- |
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Holding Company: |
Hamilton Housewares Private Limited CIN No.: U26101DN2000PTC000180 |
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Other Related
Parties : |
· Hamilton Consultant Private Limited · Annandita Realty Private Limited · Ananya Realty Private Limited · Rising Star Plastics Private Limited |
CAPITAL STRUCTURE
As on 03.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
12000000 |
Equity Shares |
Rs.10/- each |
Rs. 120.000 Millions |
|
|
|
|
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
11721000 |
Equity Shares |
Rs.10/- each |
Rs. 117.210 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 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders'
Funds |
|
|
|
|
(a) Share Capital |
117.210 |
117.210 |
117.210 |
|
(b) Reserves & Surplus |
65.763 |
55.126 |
50.025 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
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|
|
|
|
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(2)
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Total Shareholders’
Funds (1) + (2) |
182.973 |
172.336 |
167.235 |
|
|
|
|
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|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
113.219 |
96.043 |
70.783 |
|
(b) Deferred tax liabilities (Net) |
14.837 |
14.749 |
11.833 |
|
(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) |
128.056 |
110.792 |
82.616 |
|
|
|
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|
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(4) Current Liabilities |
|
|
|
|
(a) Short term
borrowings |
244.709 |
219.084 |
153.184 |
|
(b) Trade
payables |
149.538 |
140.948 |
186.829 |
|
(c) Other
current liabilities |
19.663 |
25.270 |
16.553 |
|
(d) Short-term
provisions |
6.248 |
5.436 |
4.157 |
|
Total Current
Liabilities (4) |
420.158 |
390.738 |
360.723 |
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|
|
|
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TOTAL |
731.187 |
673.866 |
610.574 |
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II.
ASSETS |
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|
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(1) Non-current assets |
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|
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(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
150.217 |
152.651 |
138.727 |
|
(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 |
0.008 |
0.008 |
0.008 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
4.834 |
4.115 |
4.382 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
155.059 |
156.774 |
143.117 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current
investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
315.206 |
324.459 |
295.536 |
|
(c) Trade
receivables |
200.923 |
141.614 |
110.718 |
|
(d) Cash
and cash equivalents |
18.002 |
12.539 |
15.471 |
|
(e)
Short-term loans and advances |
41.530 |
38.160 |
45.540 |
|
(f) Other
current assets |
0.467 |
0.320 |
0.192 |
|
Total
Current Assets |
576.128 |
517.092 |
467.457 |
|
|
|
|
|
|
TOTAL |
731.187 |
673.866 |
610.574 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
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|
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NET
SALES |
973.442 |
727.017 |
585.961 |
|
|
|
|
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|
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|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
NA |
NA |
0.000 |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
NA |
NA |
50.925 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
NA |
NA |
16.372 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
NA |
NA |
34.553 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
NA |
NA |
16.855 |
|
|
|
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|
|
|
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|
|
PROFIT/
(LOSS) BEFORE TAX |
13.640 |
9.909 |
17.698 |
|
|
|
|
|
|
|
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|
Less |
TAX |
3.003 |
4.808 |
9.784 |
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|
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|
PROFIT/
(LOSS) AFTER TAX |
10.637 |
5.101 |
7.914 |
|
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|
|
EARNINGS IN
FOREIGN CURRENCY |
444.745 |
293.575 |
170.628 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
0.91 |
0.44 |
0.68 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.87 |
1.47 |
2.90 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.07 |
0.06 |
0.11 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
1.96 |
1.83 |
1.34 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.37 |
1.32 |
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 |
117.210 |
117.210 |
117.210 |
|
Reserves & Surplus |
50.025 |
55.126 |
65.763 |
|
Net
worth |
167.235 |
172.336 |
182.973 |
|
|
|
|
|
|
long-term borrowings |
70.783 |
96.043 |
113.219 |
|
Short term borrowings |
153.184 |
219.084 |
244.709 |
|
Total
borrowings |
223.967 |
315.127 |
357.928 |
|
Debt/Equity
ratio |
1.339 |
1.829 |
1.956 |
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) |
|
Net Sales |
585.961 |
727.017 |
973.442 |
|
|
|
24.073 |
33.895 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Net Sales |
585.961 |
727.017 |
973.442 |
|
Profit |
7.914 |
5.101 |
10.637 |
|
|
1.35% |
0.70% |
1.09% |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES
OF LONG TERM DEBTS
|
Particulars |
31.03.2014 (Rs.
In Millions) |
31.03.2013 (Rs.
In Millions) |
31.03.2012 (Rs.
In Millions) |
|
|
|
|
|
|
Current Maturities of Long Term Debts |
13.641 |
15.507 |
10.000 |
|
|
|
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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 |
No |
|
9] |
Name of person contacted |
No |
|
10] |
Designation of contact
person |
No |
|
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 |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details
(if applicable) |
No |
|
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 |
10510477 |
27/06/2014 |
55,000,000.00 |
COMMONWEALTH BANK OF AUSTRALIA |
LEVEL 2, HOECHST HOUSE, NARIMAN POINT, MUMBAI, MAHARASHTRA - 400021, INDIA |
C12322145 |
|
2 |
10510403 |
27/06/2014 |
150,000,000.00 |
COMMONWEALTH BANK OF AUSTRALIA |
LEVEL 2, HOECHST HOUSE, NARIMAN POINT, MUMBAI, MAHARASHTRA - 400021, INDIA |
C12323028 |
|
3 |
10514935 |
24/03/2014 |
20,000,000.00 |
STATE BANK OF INDIA |
OVERSEAS BRANCH, THE
ARCADE, 2ND FLOOR, WORLD TRA |
C16436198 |
|
4 |
10348941 |
27/03/2012 |
22,000,000.00 |
STATE BANK OF INDIA |
OVERSEAS BRANCH, THE ARCADE, 2ND FLOOR, WORLD TRADE CENTRE, CUFFE PARADE, MUMBAI, MAHARASHTRA - 400005, INDIA |
B37344538 |
|
5 |
10286996 |
24/03/2014 * |
120,000,000.00 |
ICICI BANK LIMITED |
ICICI BANK TOWERS,
BANDRA KURLA COMPLEX, MUMBAI, |
C16203499 |
|
6 |
10185877 |
24/03/2014 * |
246,500,000.00 |
STATE BANK OF INDIA |
OVERSEAS BRANCH, THE ARCADE, 2ND FLOOR, WORLD TRADE CENTRE, CUFFE PARADE, MUMBAI, MAHARASHTRA - 400005, INDIA |
C16437725 |
|
7 |
10184551 |
18/08/2008 |
70,000,000.00 |
STATE BANK OF INDIA |
OVERSEAS BRANCH, WORLD TRADE CENTRE, CUFFE PARADE, MUMBAI, MAHARASHTRA - 400005, INDIA |
A64012644 |
UNSECURED LOANS
|
PARTICULAR |
31.03.2014 (Rs.
In Millions) |
31.03.2013 (Rs.
In Millions) |
|
LONG TERM
BORROWINGS |
|
|
|
Deposits from others |
26.309 |
24.334 |
|
Loans and advances from others |
13.600 |
13.600 |
|
Other loans and advances, others |
31.800 |
30.000 |
|
Total |
71.709 |
67.934 |
REVIEW OF OPERATIONS
The Company reported a good performance with sales growing by 34% as compared to previous year. During the financial year 2013-14, the Company earned a net profit after tax of Rs. 10.637 Millions a growth of over 108%.
During the year, the Company is investing a lot of money in developing new products and designs. Also the production facility is being expanded to cater to the growing domestic and export market. Looking into the future prospects the directors feel that barring unforeseen circumstances the company will do exceeding well in the coming years.
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 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.62.26 |
|
|
1 |
Rs.96.01 |
|
Euro |
1 |
Rs.70.72 |
INFORMATION DETAILS
|
Information
Gathered by : |
PRT |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
MRI |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILITY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
4 |
|
--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 |
|
50 |
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.