MIRA INFORM REPORT
|
Report No. : |
304433 |
|
Report Date : |
24.01.2015 |
IDENTIFICATION DETAILS
|
Name : |
GODREJ EFACEC AUTOMATION ROBOTICS LIMITED |
|
|
|
|
Formerly known
as : |
GODREJ STORAGE SOLUTIONS PRIVATE LIMITED |
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|
|
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Registered Office
: |
1ST Floor, Plant 4, Pirojsha Nagar, Vikhroli, Mumbai –
400079, |
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Country : |
India |
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|
Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
22.11.1996 |
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|
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Com. Reg. No.: |
11-104088 |
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|
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Capital
Investment / Paid-up Capital : |
Rs. 15.306 Millions |
|
|
|
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CIN No.: [Company Identification
No.] |
U28990MH1996PLC104088 |
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|
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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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|
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Legal Form : |
A Closely Held Public Limited Liability Company |
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|
|
|
Line of Business
: |
Designer and Manufacturer of Automated Storage and Retrieval Systems. |
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|
|
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No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
A (66) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Maximum Credit Limit : |
USD 330000 |
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|
|
Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a
joint venture between Godrej and Boyce Manufacturing Company Limited and
Portugal’s Efacec Handling Solutions. It is an
established company having fine track record. Financial
position of the company seems to be sound. Trade relations
are reported as fair. Business is active. Payment terms are reported to be
regular and as per commitments. The company can
be considered for business dealings at usual trade terms and conditions. |
ECGC Country Risk Classification List – September 30, 2014
|
Country Name |
Previous Rating (30.06.2014) |
Current Rating (30.09.2014) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
Not Available |
|
Rating |
Not Available |
|
Rating Explanation |
Not Available |
|
Date |
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.
LOCATIONS
|
Registered Office/ Factory : |
1ST Floor, Plant 4, Pirojsha Nagar, Vikhroli, Mumbai –
400079, |
|
Tel. No.: |
91-22-67965347/ 50/ 51/ 52/ 67965349 |
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Fax No.: |
91-22-67965360 |
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E-Mail : |
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|
Website : |
DIRECTORS
As on 19.06.2014
|
Name : |
Mr. Phiroze Dinshaw Lam |
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Designation : |
Director |
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Address : |
1/23 Mistry Park, 77-B, |
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Date of Birth/Age : |
06.03.1945 |
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Date of Appointment : |
22.11.1996 |
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DIN No.: |
00066218 |
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Voter ID No.: |
MT/04/024/240827 |
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Other Directorship :
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Name : |
Mr. Kyamas Ardeshir Palia |
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Designation : |
Director |
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Address : |
7-C, |
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Date of Birth/Age : |
22.11.1945 |
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Date of Appointment : |
22.11.1996 |
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DIN No.: |
00281971 |
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Voter ID No.: |
MT/04/024/465170 |
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Other Directorship :
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Name : |
Mr. A M Visvanathan |
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Designation : |
Director |
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Address : |
C – 22, Garden City Apartment, |
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Date of Birth/Age : |
09.05.1955 |
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Date of Appointment : |
23.02.1999 |
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DIN No.: |
00066221 |
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Voter ID No.: |
BDZ5017579 |
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Name : |
Jorge Manvel Rocha Guomaraes De Machedo Couto |
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Designation : |
Director |
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Address : |
Rua Arroteia 126, Apart-309, Leca Do Balio 4485 |
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Date of Birth/Age : |
02.11.1964 |
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Date of Appointment : |
06.08.2009 |
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DIN No.: |
02812543 |
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Name : |
Mr. Joaquim De Sa Somoes |
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Designation : |
Director |
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Address : |
Rua Clube Desportivo Da, Povoa N 154-13-2, Povoa De Varzim 4490695 |
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Date of Birth/Age : |
09.05.1966 |
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Date of Appointment : |
18.07.2012 |
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DIN No.: |
03585850 |
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Name : |
Mr. Joao Paulo Moreira Martins De Oliveira E Sousa |
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Designation : |
Director |
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Address : |
Rua Da Fonte Grande No. 190 Azevedo 4525 301 Giao VFR, Santa Maria Da
Feira 4525301 |
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Date of Birth/Age : |
17.11.1969 |
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Date of Appointment : |
18.07.2012 |
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DIN No.: |
02187254 |
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Other Directorship :
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Name : |
Mr. Alberto Joaquim Milheiro Barbosa
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Designation : |
Director |
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Address : |
Rua Fernao Vaz D`Urado, N 159-RC 4100, Porto Portugal |
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Date of Birth/Age : |
24.08.1953 |
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Date of Appointment : |
19.06.2014 |
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DIN No.: |
06902221
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Name : |
Mr. Mario Oscar Clemencio |
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Designation : |
Director |
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Address : |
Praceta Joao Vaillaret, N 3DTO, 4460-337, Senhora Da Hora, Portugal |
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Date of Birth/Age : |
24.08.1953 |
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Date of Appointment : |
19.06.2014 |
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DIN No.: |
06902231 |
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MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 19.06.2014
|
Names of Shareholders |
|
No. of Shares |
|
Godrej and Boyce Manufacturer Company Limited |
|
749995 |
|
Efacec Automacao E Robotica SA |
|
780612 |
|
Phiroze Dinshaw Lam |
|
1 |
|
Kyamas Ardeshir Palia |
|
1 |
|
Fouzdar Erach Percy |
|
1 |
|
A M Visvanathan |
|
1 |
|
Manoj M. Ganjawalla |
|
1 |
|
Total |
|
1530612 |
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Foreign holdings( Foreign institutional
investor(s), Foreign companies(s) Foreign financial institution(s),
Non-resident Indian(s) or Overseas Corporate bodies or Others |
51.00 |
|
Bodies corporate |
49.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Designer and Manufacturer of Automated Storage and Retrieval Systems. |
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|
|
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Products : |
Automated Storage and Retrieval Systems |
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|
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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|
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Exports : |
Not Available |
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|
|
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Imports : |
Not Available |
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|
|
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Terms : |
Not Available |
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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No. of Employees : |
Not Available |
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Bankers : |
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Facilities : |
(Rs.
In Millions)
|
|
Auditors : |
|
|
Name : |
Kalyaniwalla and Mistry Chartered Accountant |
|
Address : |
Kalpataru Heritage, |
|
PAN No.: |
AAAFK7554R |
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|
|
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Memberships : |
Not Available |
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|
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Collaborators : |
Not Available |
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Shareholder with a substantial interest in voting power : |
|
|
|
|
|
Enterprises in which in a above exercise control/ significant
influence : |
|
CAPITAL STRUCTURE
As on 19.06.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2000000 |
Equity Shares |
Rs.10/- each |
Rs. 20.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1530612 |
Equity Shares |
Rs.10/- each |
Rs. 15.306
Millions |
|
|
|
|
|
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 |
15.306 |
15.306 |
15.306 |
|
(b) Reserves & Surplus |
100.723 |
83.712 |
52.020 |
|
(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) |
116.029 |
99.018 |
67.326 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
1.067 |
0.663 |
0.092 |
|
(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) |
1.067 |
0.663 |
0.092 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade
payables |
106.558 |
91.705 |
38.822 |
|
(c) Other current
liabilities |
152.182 |
178.355 |
136.816 |
|
(d) Short-term
provisions |
25.650 |
19.333 |
8.493 |
|
Total Current
Liabilities (4) |
284.390 |
289.393 |
184.131 |
|
|
|
|
|
|
TOTAL |
401.486 |
389.074 |
251.549 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
16.192 |
18.851 |
0.786 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
0.044 |
0.000 |
0.000 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
0.896 |
0.471 |
0.104 |
|
(d) Long-term Loan and Advances |
0.000 |
0.000 |
0.000 |
|
(e) Other Non-current
assets |
4.829 |
3.318 |
6.769 |
|
Total Non-Current
Assets |
21.961 |
22.640 |
7.659 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
17.359 |
33.704 |
|
(b)
Inventories |
34.284 |
9.154 |
12.366 |
|
(c) Trade
receivables |
199.679 |
301.607 |
120.391 |
|
(d) Cash
and cash equivalents |
61.326 |
28.860 |
69.655 |
|
(e)
Short-term loans and advances |
15.694 |
9.454 |
7.774 |
|
(f) Other
current assets |
68.542 |
0.000 |
0.000 |
|
Total
Current Assets |
379.525 |
366.434 |
243.890 |
|
|
|
|
|
|
TOTAL |
401.486 |
389.074 |
251.549 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from Installation and Services |
465.922 |
515.914 |
285.145 |
|
|
|
Other Operating Revenue |
0.752 |
0.989 |
0.000 |
|
|
|
Other Income |
2.055 |
5.494 |
3.619 |
|
|
|
TOTAL |
468.729 |
522.397 |
288.764 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Materials Consumed and Goods Purchased
|
0.000 |
316.126 |
178.698 |
|
|
|
Project Expenses |
359.399 |
47.650 |
0.000 |
|
|
|
Employees benefits expense |
22.411 |
53.067 |
1.800 |
|
|
|
Administration and Selling
Expenses |
32.059 |
37.140 |
13.000 |
|
|
|
Labour Charges |
0.000 |
0.000 |
21.023 |
|
|
|
Freight Charges |
0.000 |
0.000 |
3.164 |
|
|
|
Establishment Charges |
0.000 |
0.000 |
3.780 |
|
|
|
Other expenses |
0.000 |
0.000 |
39.189 |
|
|
|
Provision for Doubtful
Debts (written back)/ made |
0.000 |
0.000 |
(0.491) |
|
|
|
TOTAL
|
413.869 |
453.983 |
260.163 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
54.860 |
68.414 |
28.601 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
3.003 |
1.527 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
51.857 |
66.887 |
28.601 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
4.124 |
1.639 |
0.298 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
47.733 |
65.248 |
28.303 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
16.575 |
25.552 |
8.687 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
31.158 |
39.696 |
19.616 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
22.779 |
7.995 |
7.072 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials, Stores & Spares |
14.052 |
9.193 |
0.000 |
|
|
TOTAL IMPORTS |
14.052 |
2.193 |
0.000 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
20.36 |
25.93 |
12.82 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT/Sales) |
(%) |
6.69 |
7.69 |
6.88 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT / Sales) |
(%) |
11.77 |
13.26 |
10.03 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
11.92 |
16.79 |
11.26 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.41 |
0.66 |
0.42 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.01 |
0.01 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.33 |
1.27 |
1.32 |
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 |
15.306 |
15.306 |
15.306 |
|
Reserves & Surplus |
52.020 |
83.712 |
100.723 |
|
Net
worth |
67.326 |
99.018 |
116.029 |
|
|
|
|
|
|
long-term borrowings |
0.092 |
0.663 |
1.067 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Total
borrowings |
0.092 |
0.663 |
1.067 |
|
Debt/Equity
ratio |
0.001 |
0.007 |
0.009 |
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 |
285.145 |
515.914 |
465.922 |
|
|
|
80.930 |
(9.690) |
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 |
285.145 |
515.914 |
465.922 |
|
Profit |
19.616 |
39.696 |
31.158 |
|
|
6.88% |
7.69% |
6.69% |
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 |
Yes |
|
34] |
External Agency Rating,
if available |
No |
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge
Holder |
Address |
Service Request Number (SRN) |
|
1 |
10388091 |
31/10/2012 |
280,000,000.00 |
Central Bank of
India |
Chander Mukhi, Nariman
Point, Mumbai - 400021, Maharashtra, India |
B62599238 |
FINANCIAL RESULTS
The statement of Profit and Loss of the
company for the year discloses a net profit after taxes of Rs. 31.158 Millions
on sales of Rs. 465.922 Millions (excluding excise duty)
FIXED ASSETS
- Leasehold
Improvement
- Plant and
Machinery
- Computers
- Office
Equipment
- Furniture and
Fittings
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.61.50 |
|
|
1 |
Rs.92.16 |
|
Euro |
1 |
Rs.69.62 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
KLS |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
8 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
8 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
8 |
|
--PROFITABILITY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
7 |
|
--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 |
|
66 |
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.