MIRA INFORM REPORT
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Report No. : |
303629 |
|
Report Date : |
17.01.2015 |
IDENTIFICATION DETAILS
|
Name : |
APURVA INDIA LIMITED [w.e.f.07.01.2009] |
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|
Formerly Known
As : |
APURVA BUILDCARE TECHNOLOGIES LIMITED [w.e.f.27.10.2008] APURVA BUILDCARE TECHNOLOGIES PRIVATE LIMITED |
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Registered
Office : |
New Udyod Mandir No. 2, Office No. 2, 2nd Floor, 7-C, Pitamber Lane,
Mahim, Mumbai – 400016, Maharashtra |
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Country : |
India |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
29.06.1995 |
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Com. Reg. No.: |
11-090074 |
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Capital
Investment / Paid-up Capital : |
Rs. 52.741 Millions |
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CIN No.: [Company Identification
No.] |
U74999MH1995PLC090074 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
MUMA19684A |
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PAN No.: [Permanent Account No.] |
AACCA0690D |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Manufacturing of Interior and Exterior wall surface coating, epoxy
floor coating, hygiene control coating, waterproofing, car parking and
polyurethane resin floor coating etc. |
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|
No. of Employees
: |
Information declined by the management |
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 |
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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 is good. 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 |
Cash Credit = BBB- |
|
Rating Explanation |
Moderate degree of safety it carry moderate
credit risk. |
|
Date |
September 27, 2012 |
Reason for suspension: Non-Cooperation by the
company to carry out rating.
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 BY
|
Name : |
Mr. G. S. Gupta |
|
Designation : |
Accounts Manager |
|
Contact No.: |
91-22-24475051 |
|
Date : |
16.01.2015 |
LOCATIONS
|
Registered/ Head Office : |
New Udyod Mandir No. 2, Office No. 2, 2nd Floor, 7-C, Pitamber Lane,
Mahim, Mumbai – 400016, Maharashtra, India |
|
Tel. No.: |
91-22-24475051 |
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Fax No.: |
91-22-24475056 |
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E-Mail : |
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|
Website : |
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Factory : |
MIDC Tarapur, Mumbai, Maharashtra, India |
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Northern Region
Office : |
L-120, Ground Floor, Street No. 5B, Mahipal Pur Extension, New Delhi - 110037, India |
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Tel. No.: |
91-11-26785769 |
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E-Mail : |
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Southern Region
Office : |
G-18 Eldorado Complex, 112, Nungambakkam High Road, Chennai - 600034, Tamilnadu, India |
|
Tel. No.: |
91-44-28261414 |
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Fax No.: |
91-44-28261414 |
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E-Mail : |
DIRECTORS
AS ON 30.09.2014
|
Name : |
Mr. Ashok Narayan Kate |
|
Designation : |
Managing director |
|
Address : |
602, Sujatha Apartment CHS Limited, Baburao Parulekar Marg, Dadar (West), Mumbai - 400028, Maharashtra, India |
|
Date of Birth/Age : |
16.04.1955 |
|
Qualification : |
B. Tech |
|
Date of Appointment : |
29.06.1995 |
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PAN No.: |
AAGPK6928D |
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DIN No.: |
00419360 |
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|
|
|
Name : |
Mrs. Ulka Ashok Kate |
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Designation : |
Whole-time director |
|
Address : |
602, Sujatha Apartment CHS Limited, Baburao Parulekar Marg, Dadar (West), Mumbai - 400028, Maharashtra, India |
|
Date of Birth/Age : |
15.04.1955 |
|
Qualification : |
B.Sc. |
|
Date of Appointment : |
29.06.1995 |
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PAN No.: |
AAOPK6395C |
|
DIN No.: |
00451533 |
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|
|
|
Name : |
Ameya Ashok Kate |
|
Designation : |
Whole-time director |
|
Address : |
602, Sujatha Apartment CHS Limited, Baburao Parulekar Marg, Dadar (West), Mumbai - 400028, Maharashtra, India |
|
Date of Birth/Age : |
09.12.1980 |
|
Qualification : |
BE (Civil) |
|
Date of Appointment : |
30.09.2005 |
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PAN No.: |
AGOPK6887K |
|
DIN No.: |
00786125 |
KEY EXECUTIVES
|
Name : |
Mr. G. S. Gupta |
|
Designation : |
Accounts Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2014
|
Names of Shareholders |
|
No. of Shares |
|
Ashok Narayan Kate |
|
2716146 |
|
Ulka Ashok Kate |
|
2532600 |
|
Ameya Ashok Kate |
|
20520 |
|
Apurva Ashok Kate |
|
432 |
|
Narayan Murlidhar Kate |
|
4320 |
|
Ganesh S. Shanbagh |
|
27 |
|
Manish Dhanendra Ladge |
|
27 |
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|
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Total |
|
5274072 |
AS ON 30.09.2014
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Directors
or relatives of directors |
99.99 |
|
Others |
0.01 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing of Interior and Exterior wall surface coating, epoxy
floor coating, hygiene control coating, waterproofing, car parking and polyurethane
resin floor coating etc. |
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Products/ Services : |
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Brand Names : |
-- |
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Agencies Held : |
-- |
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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 : |
Information declined by the management |
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Bankers : |
· Indian Bank Mahim Branch, 1-1A, Raj Mahal Building, MMC Road, Mumbai - 400016, Maharashtra, India · Indian Bank 482 Garden View M M C Road, Mahim [West], Mumbai - 400016,
Maharashtra, India |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Tembey and Mhatre Chartered Accountants |
|
Address : |
120, Udyog Mandir No. 1, Bhagoji Keer Marg, Mahim, Mumbai
– 400016, Maharashtra, India |
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Income-tax
PAN of auditor or auditor's firm : |
AAAFT4024B |
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|
|
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Associates : |
· Prosys Services Private Limited [U45203MH2008PTC181460] ·
ParexGroup Construction Products Private
Limited [U45400MH2012PTC244746] |
CAPITAL STRUCTURE
AS ON 30.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
7,500,000 |
Equity Shares |
Rs. 10/- each |
Rs. 75.000 Millions |
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|
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5,274,072 |
Equity Shares |
Rs. 10/- each |
Rs. 52.741 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 |
52.741 |
52.741 |
52.741 |
|
(b) Reserves & Surplus |
73.908 |
58.258 |
49.833 |
|
(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) |
126.649 |
110.999 |
102.574 |
|
|
|
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(3)
Non-Current Liabilities |
|
|
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|
(a) Long-term borrowings |
0.000 |
0.000 |
1.399 |
|
(b) Deferred tax liabilities (Net) |
0.974 |
1.169 |
1.008 |
|
(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) |
0.974 |
1.169 |
2.407 |
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(4) Current Liabilities |
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(a)
Short term borrowings |
33.200 |
46.093 |
24.795 |
|
(b)
Trade payables |
66.277 |
38.344 |
38.338 |
|
(c)
Other current liabilities |
16.052 |
8.453 |
9.258 |
|
(d)
Short-term provisions |
3.413 |
4.155 |
6.428 |
|
Total
Current Liabilities (4) |
118.942 |
97.045 |
78.819 |
|
|
|
|
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TOTAL |
246.565 |
209.213 |
183.800 |
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II.
ASSETS |
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|
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(1) Non-current assets |
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(a)
Fixed Assets |
|
|
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|
(i)
Tangible assets |
48.243 |
55.230 |
55.108 |
|
(ii)
Intangible Assets |
0.263 |
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 |
0.540 |
0.540 |
0.540 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and
Advances |
0.836 |
0.872 |
0.850 |
|
(e)
Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
49.882 |
56.642 |
56.498 |
|
|
|
|
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(2) Current assets |
|
|
|
|
(a)
Current investments |
37.321 |
38.017 |
17.000 |
|
(b)
Inventories |
37.648 |
32.703 |
32.411 |
|
(c)
Trade receivables |
96.670 |
61.011 |
63.752 |
|
(d)
Cash and cash equivalents |
14.975 |
15.052 |
5.836 |
|
(e)
Short-term loans and advances |
10.050 |
5.736 |
8.303 |
|
(f)
Other current assets |
0.019 |
0.052 |
0.000 |
|
Total
Current Assets |
196.683 |
152.571 |
127.302 |
|
|
|
|
|
|
TOTAL |
246.565 |
209.213 |
183.800 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from Operations |
331.140 |
242.170 |
195.257 |
|
|
|
Other Income |
4.994 |
1.635 |
1.945 |
|
|
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TOTAL |
336.134 |
243.805 |
197.202 |
|
|
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|
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Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
214.231 |
154.672 |
110.325 |
|
|
|
Purchases of Stock-in-Trade |
3.799 |
1.594 |
1.539 |
|
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
(1.906) |
(5.165) |
(0.067) |
|
|
|
Employees benefits expense |
45.038 |
36.133 |
35.975 |
|
|
|
Other expenses |
41.454 |
33.083 |
33.937 |
|
|
|
TOTAL |
302.616 |
220.317 |
181.709 |
|
|
|
|
|
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|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
33.518 |
23.488 |
15.493 |
|
|
|
|
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|
|
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|
Less |
FINANCIAL EXPENSES |
3.538 |
3.035 |
2.429 |
|
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|
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|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
29.980 |
20.453 |
13.064 |
|
|
|
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|
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|
Less/ Add |
DEPRECIATION/
AMORTISATION |
6.212 |
6.173 |
6.850 |
|
|
|
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|
|
|
|
Less |
EXCEPTIONAL
ITEMS |
0.624 |
0.000 |
0.553 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
23.144 |
14.280 |
5.661 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
4.409 |
2.771 |
0.595 |
|
|
|
|
|
|
|
|
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|
PROFIT AFTER TAX
|
18.735 |
11.509 |
5.066 |
|
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|
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EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
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Export Earnings [FOB Basis] |
48.860 |
30.408 |
21.346 |
|
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|
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IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
59.755 |
25.697 |
15.881 |
|
|
|
|
|
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|
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|
Earnings Per Share
(Rs.) |
3.55 |
2.18 |
0.96 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT/Sales) |
(%) |
5.66 |
4.75 |
2.59 |
|
|
|
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|
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|
Operating Profit Margin (PBDIT/Sales) |
(%) |
10.12 |
9.70 |
7.93 |
|
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|
Return on Total Assets (PBT/Total Assets} |
(%) |
9.41 |
6.84 |
3.09 |
|
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|
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|
Return on Investment (ROI) (PBT/Networth) |
|
0.18 |
0.13 |
0.06 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.26 |
0.42 |
0.26 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.65 |
1.57 |
1.62 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particulars |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Share Capital |
52.741 |
52.741 |
52.741 |
|
Reserves & Surplus |
49.833 |
58.258 |
73.908 |
|
Net
worth |
102.574 |
110.999 |
126.649 |
|
|
|
|
|
|
Long-term borrowings |
1.399 |
0.000 |
0.000 |
|
Short term borrowings |
24.795 |
46.093 |
33.200 |
|
Total
borrowings |
26.194 |
46.093 |
33.200 |
|
Debt/Equity ratio |
0.255 |
0.415 |
0.262 |
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 |
195.257 |
242.170 |
331.140 |
|
|
|
24.026 |
36.739 |
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 |
195.257 |
242.170 |
331.140 |
|
Profit |
5.066 |
11.509 |
18.735 |
|
|
2.59% |
4.75% |
5.66% |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES
OF LONG TERM DEBT
|
PARTICULARS |
31.03.2014 (Rs.
In Millions) |
31.03.2013 (Rs.
In Millions) |
31.03.2012 (Rs.
In Millions) |
|
|
|
|
|
|
Current maturities of long-term debt |
0.000 |
0.000 |
0.679 |
|
|
|
|
|
|
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 |
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 |
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 |
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 |
10012861 |
17/08/2010 * |
67,475,000.00 |
INDIAN BANK |
MAHIM BRANCH, 542, RAJMAHAL, M M C ROAD, MAHIM (WEST), MUMBAI, MAHARASHTRA - 400016, INDIA |
A93045763 |
* Date of charge modification
UNSECURED LOANS
|
PARTICULARS |
31.03.2014 (Rs.
In Millions) |
31.03.2013 (Rs.
In Millions) |
|
SHORT TERM BORROWINGS |
|
|
|
Other loans and advances |
24.164 |
19.418 |
|
|
|
|
|
Total |
24.164 |
19.418 |
OPERATIONS:
The total revenue during the year was Rs. 336.134 Millions
as compared to Rs. 243.806 Millions. The operations have resulted in Pre-Tax
profit of Rs. 23.144 Millions against Rs.14.280 Millions of the preceding year.
In spite of competitive environment and recessionary trends prevailing in the
developed economies, the performance of the Company was satisfactory.
FIXED ASSETS:
· Land
· Buildings
· Plant and equipment
· Factory equipments
· Furniture and fixtures
· Vehicles
· Motor vehicles
· Office equipment
· Computer equipments
· Other equipments
· Computer software
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts, India Prisons Service,
Interpol, etc.
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. 61.89 |
|
UK Pound |
1 |
Rs. 93.92 |
|
Euro |
1 |
Rs. 72.01 |
INFORMATION DETAILS
|
Information Gathered
by : |
PPT |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
BVA |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
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 |
|
DEFAULTERS |
|
|
|
--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.