MIRA INFORM REPORT
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Report No. : |
303501 |
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Report Date : |
15.01.2015 |
IDENTIFICATION DETAILS
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Name : |
DEV PHARMACY PRIVATE LIMITED |
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Registered
Office : |
Desh Bandhu Park, North 24 Parganas, Howrah – 743 263, West Bengal |
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Country : |
India |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
01.03.1996 |
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Com. Reg. No.: |
21-077731 |
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Capital
Investment / Paid-up Capital : |
Rs.4.889
millions |
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CIN No.: [Company Identification
No.] |
U24239WB1996PTC077731 |
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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
: |
Subject is engaged in the business of manufacturing of Ayurvedic
Medicines. |
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No. of Employees
: |
Not Available [We tried to confirm the number of employees
but no one is ready to part any information from the company management] |
RATING & COMMENTS
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MIRA’s Rating : |
Ba (45) |
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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 365000 |
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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. General financial position of the company seems to be sound and
healthy. Profitability of the company is fair. Trade relations are fair. Business is active. Payment terms are
reported to be usually correct. The company can be considered for business dealings at usual trade
terms and condition. |
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 – September 30, 2014
|
Country Name |
Previous Rating (30.06.2014) |
Current Rating (30.09.2014) |
|
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
NOT AVAILABLE
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter in
the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2014.
INFORMATION DECLINED
Management non-cooperative
(Tel. No.: 91-120-4246930)
LOCATIONS
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Registered Office : |
Desh Bandhu Park, North 24 Parganas, Howrah – 743 263, West Bengal,
India |
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Tel. No.: |
Not Available |
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Fax No.: |
Not Available |
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E-Mail : |
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Factory 1 : |
E-17
and E-17A, Sector-8, Gautambudh Nagar, Noida – 201 301, Uttar Pradesh,
India |
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Tel. No.: |
91-120-2424843/ 4246930/ 4279449 |
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Factory 2 : |
Plot No. 5, Sector 6A, I.I.B., SIDCUL, Haridwar – 249 403, Uttarakhand, India |
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Tel. No.: |
91-1334-239697 |
DIRECTORS
AS ON 30.09.2014
|
Name : |
Mr. Ravindra Kumar Biswas |
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Designation : |
Director |
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Address : |
D-67, Pandav Nagar, Patpargunj, Delhi – 110 092, India |
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Date of Birth/Age : |
10.10.1973 |
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Date of Appointment : |
10.10.2009 |
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DIN No.: |
00047035 |
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Other Directorship :
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Name : |
Dr. Noni Gopal Dev |
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Designation : |
Director |
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Address : |
A-69, Nirman Vihar, Delhi – 110 092, India |
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Date of Birth/Age : |
20.08.1960 |
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Date of Appointment : |
20.08.2010 |
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DIN No.: |
00427448 |
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Other Directorship :
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Name : |
Mr. Balbir Singh |
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Designation : |
Director |
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Address : |
E-17, Sector-8, Noida – 201 301, Uttar Pradesh, India |
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Date of Birth/Age : |
14.08.1962 |
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Date of Appointment : |
10.10.2009 |
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DIN No.: |
02769555 |
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MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2014
|
Names of Shareholders |
No. of Shares |
Percentage of Holding |
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Noni Gopal Dev |
268400 |
54.90 |
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Manju Dev |
157100 |
32.13 |
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Mita Dev |
61700 |
12.62 |
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R.K. Biswas |
400 |
0.08 |
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Balbir Singh |
1300 |
0.27 |
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Total |
488900 |
100.00 |
AS ON 30.09.2014
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
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Directors
or relatives of directors |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Subject is engaged in the business of manufacturing of Ayurvedic
Medicines. |
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Products : |
Ayurvedic Medicines |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
Not Divulged |
PRODUCTION STATUS –
NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
Not Available [We tried to confirm the number of
employees but no one is ready to part any information from the company
management] |
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Bankers : |
·
Kotak Mahindra Bank Limited ·
Corporation Bank ·
Punjab National Bank · IndusInd Bank ·
Vijaya Bank, Baddi ·
Vijaya Bank, Kerala ·
Vijaya Bank, Haridwar |
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Facilities : |
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Banking
Relations : |
-- |
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Financial Institutions : |
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Auditors : |
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Name : |
M.B. Gupta and Company Chartered Accountants |
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Address : |
R-52, 3rd Floor, Vikas Marg, Shakarpur, Delhi – 110 092,
India |
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Tel. No.: |
91-11-22012352 |
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Income-tax
PAN of auditor or auditor's firm : |
AAGFM7201B |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Other Related
Parties (Significant Interest of KMP) : |
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CAPITAL STRUCTURE
AS ON 30.09.2014
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
|
1000000 |
Equity Shares |
Rs.10/- each |
Rs.10.000 millions |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
|
488900 |
Equity Shares |
Rs.10/- each |
Rs.4.889
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 |
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|
(1) Shareholders' Funds |
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(a) Share Capital |
4.889 |
4.879 |
4.879 |
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(b) Reserves & Surplus |
122.803 |
96.505 |
83.456 |
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(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
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(2) Share Application money pending
allotment |
0.000 |
0.100 |
0.100 |
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Total
Shareholders’ Funds (1) + (2) |
127.692 |
101.484 |
88.435 |
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(3)
Non-Current Liabilities |
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(a) Long-term borrowings |
157.123 |
62.568 |
66.046 |
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(b) Deferred tax liabilities (Net) |
7.129 |
7.394 |
7.281 |
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(c) Other long term
liabilities |
6.265 |
2.225 |
2.225 |
|
(d) Long-term
provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
170.517 |
72.187 |
75.552 |
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(4)
Current Liabilities |
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|
(a) Short term
borrowings |
1.437 |
16.512 |
12.461 |
|
(b) Trade
payables |
0.984 |
9.882 |
10.099 |
|
(c) Other
current liabilities |
12.598 |
8.041 |
8.980 |
|
(d) Short-term
provisions |
12.593 |
6.046 |
3.902 |
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Total Current
Liabilities (4) |
27.612 |
40.481 |
35.442 |
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TOTAL |
325.821 |
214.152 |
199.429 |
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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 |
66.093 |
67.927 |
86.975 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
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(iii)
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
32.119 |
23.896 |
0.046 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
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(d) Long-term Loan and Advances |
11.431 |
2.924 |
3.161 |
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(e) Other
Non-current assets |
0.544 |
0.444 |
0.452 |
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Total Non-Current
Assets |
110.187 |
95.191 |
90.634 |
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(2)
Current assets |
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|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
49.026 |
42.980 |
44.087 |
|
(c) Trade
receivables |
67.089 |
64.118 |
54.622 |
|
(d) Cash
and cash equivalents |
16.697 |
3.965 |
6.359 |
|
(e)
Short-term loans and advances |
81.852 |
7.136 |
2.446 |
|
(f) Other
current assets |
0.970 |
0.762 |
1.281 |
|
Total
Current Assets |
215.634 |
118.961 |
108.795 |
|
|
|
|
|
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TOTAL |
325.821 |
214.152 |
199.429 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
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Income |
174.526 |
128.643 |
107.919 |
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Other Income |
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TOTAL (A) |
174.526 |
128.643 |
107.919 |
|
|
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Less |
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|
|
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|
Office Expenses |
120.598 |
95.819 |
77.978 |
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Administrative Expenses |
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Advertising Expenses |
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TOTAL (B) |
120.598 |
95.819 |
77.978 |
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Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
53.928 |
32.824 |
29.941 |
|
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|
|
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|
Less |
INTEREST (D) |
15.329 |
13.171 |
13.944 |
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|
|
PROFIT/
(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
38.599 |
19.653 |
15.997 |
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|
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|
|
|
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|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
4.304 |
3.656 |
3.884 |
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|
|
PROFIT/ (LOSS)
BEFORE TAX (E-F) (G) |
34.295 |
15.997 |
12.113 |
|
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Less |
TAX (H) |
2.367 |
0.113 |
6.207 |
|
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|
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|
|
|
PROFIT/ (LOSS)
AFTER TAX (G-H) (I) |
31.928 |
15.884 |
5.906 |
|
|
|
|
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|
Add |
PREVIOUS YEARS’
BALANCE BROUGHT FORWARD |
80.308 |
68.848 |
65.246 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Proposed Dividend on Equity Shares |
4.889 |
2.440 |
1.220 |
|
|
|
Corporate Tax on Proposed Dividend |
0.831 |
0.396 |
0.198 |
|
|
|
Transfer to General Reserve |
3.193 |
1.588 |
0.886 |
|
|
BALANCE CARRIED
TO THE B/S |
103.323 |
80.308 |
68.848 |
|
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|
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|
|
|
|
|
|
Earnings/ (Loss)
Per Share (Rs.) |
65.44 |
32.56 |
12.10 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT/ Total Income) |
(%) |
18.29 |
12.35 |
5.47 |
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|
|
|
Operating Profit Margin (PBDIT/ Total Income) |
(%) |
30.90 |
25.52 |
27.74 |
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|
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Return on Total Assets (PBT/Total Assets} |
(%) |
11.68 |
8.41 |
6.08 |
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Return on Investment (ROI) (PBT/Networth) |
|
0.27 |
0.16 |
0.14 |
|
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|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
1.24 |
0.78 |
0.89 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
7.81 |
2.94 |
3.07 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(INR in Mlns.) |
(INR in Mlns.) |
(INR in Mlns.) |
|
Share Capital |
4.879 |
4.879 |
4.889 |
|
Reserves & Surplus |
83.456 |
96.505 |
122.803 |
|
Money received against
share warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.100 |
0.100 |
0.000 |
|
Net worth |
88.435 |
101.484 |
127.692 |
|
|
|
|
|
|
Long Term borrowings |
66.046 |
62.568 |
157.123 |
|
Short Term borrowings |
12.461 |
16.512 |
1.437 |
|
Total borrowings |
78.507 |
79.080 |
158.560 |
|
Debt/Equity ratio |
0.888 |
0.779 |
1.242 |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(INR in Mlns) |
(INR in Mlns) |
(INR in Mlns) |
|
Total Income |
107.919 |
128.643 |
174.526 |
|
|
|
19.203 |
35.667 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(INR in Mlns) |
(INR in Mlns) |
(INR in Mlns) |
|
Total Income |
107.919 |
128.643 |
174.526 |
|
Profit |
5.906 |
15.884 |
31.928 |
|
|
5.47% |
12.35% |
18.29% |
LOCAL AGENCY FURTHER INFORMATION
|
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 |
No |
CORPORATE
INFORMATION
The company, having its registered office at Desh Bandhu Park, North 24
Parganas, Howrah, West Bengal, India was incorporated on 01.03.1996 and is
engaged in the business of manufacturing of Ayurvedic Medicines.
UNSECURED LOANS
|
PARTICULAR |
31.03.2014 (Rs.
In Millions) |
31.03.2013 (Rs.
In Millions) |
|
LONG TERM
BORROWINGS |
|
|
|
Loan from
Directors |
|
|
|
Noni Gopal Dev |
37.549 |
0.000 |
|
Total |
37.549 |
0.000 |
INDEX OF CHARGES
|
S. No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number
(SRN) |
|
1 |
10507490 |
30/05/2014 |
10,761,350.00 |
INDIABULLS HOUSING
FINANCE LIMITED |
M - 62 AND 63, FIRST FLOOR,
CONNAUGHT PLACE, NEW DELHI, DELHI - 110001, INDIA |
C10151892 |
|
2 |
10486465 |
18/03/2014 |
6,522,750.00 |
INDIABULLS HOUSING
FINANCE LIMITED |
M - 62 AND 63, FIRST
FLOOR, CONNAUGHT PLACE, NEW DELHI, DELHI - 110001, INDIA |
C01019629 |
|
3 |
10467821 |
05/12/2013 |
20,000,000.00 |
PNB HOUSING FINANCE
LIMITED |
9TH FLOOR, ANTRIKSH
BHAWAN, 22 K G MARG, NEW DELHI, DELHI - 110001, INDIA |
B92608983 |
|
4 |
10463335 |
28/10/2013 |
72,000,000.00 |
ADITYA BIRLA FINANCE
LIMITED |
INDIAN RAYON COMPOUND,, VERAVAL,
GUJARAT - 362266, INDIA |
B90779356 |
|
5 |
10453260 |
26/09/2013 |
20,000,000.00 |
KOTAK MAHINDRA BANK
LIMITED |
36-38A, NARIMAN BHAVAN,
227, D, NARIMAN POINT, MUMBAI, MAHARASHTRA - 400021, INDIA |
B86738481 |
|
6 |
10420277 |
14/03/2013 |
5,000,000.00 |
VIJAYA BANK |
SME BRANCH, B-1A BLOCK,
PLOT NO-12, SECTOR-51, NOIDA, UTTAR PRADESH - 201301, INDIA |
B73343154 |
|
7 |
10288614 |
11/04/2011 |
1,675,000.00 |
VIJAYA BANK |
SME BRANCH, B-12,
SECTOR-60, NOIDA, UTTAR PRADESH |
B13629415 |
|
8 |
10226905 |
12/05/2010 |
753,600.00 |
DEPUTY DIRECTOR OF
INDUSTRIES |
SINGLE WINDOW CLEARANCE
AGENCY, BADDI BAROTIWALA, |
A88658869 |
|
9 |
10121065 |
30/08/2008 |
16,500,000.00 |
INDIABULLS FINANCIAL
SERVICES LIMITED |
F - 60, MALHOTRA
BUILDING, 2ND FLOOR,, CONNAUGHT |
A45424751 |
|
10 |
10111265 |
31/10/2006 |
7,500,000.00 |
VIJAY BANK |
8, GOVINDPURI, MAIN ROAD,
HARIDWAR, UTTARAKHAND - |
A22762298 |
|
11 |
90247965 |
15/02/2012 * |
15,000,000.00 |
VIJAYA BANK |
SME BRANCH, B-12
SECTOR-60, NOIDA, UTTAR PRADESH |
B36821189 |
* Date of charge modification
FIXED ASSETS:
· Land
· Buildings
· Furniture
· Office Equipments
· Plant and Machinery
· Motor Vehicles
·
Computers
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.62.15 |
|
|
1 |
Rs.94.24 |
|
Euro |
1 |
Rs.73.30 |
INFORMATION DETAILS
|
Information
Gathered by : |
NYA |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
SMN |
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 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
45 |
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.