MIRA INFORM REPORT
|
Report No. : |
304881 |
|
Report Date : |
29.01.2015 |
IDENTIFICATION DETAILS
|
Name : |
FOREVERMARK DIAMONDS PRIVATE LIMITED |
|
|
|
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Registered
Office : |
Advanced Business Centre, 83, Maker Chamber VI, Nariman Point, Mumbai –
400021, Maharashtra |
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Country : |
India |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
06.06.2008 |
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Com. Reg. No.: |
11-183268 |
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Capital
Investment / Paid-up Capital : |
Rs. 13.001 Millions |
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|
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CIN No.: [Company Identification
No.] |
U36912MH2008PTC183268 |
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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
: |
Trader of Jewelley Display Items and Marketing |
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No. of Employees
: |
20 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (48) |
|
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 : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having a satisfactory track record. Trade relations are reported as fair. Business is active. Payment
terms are regular and as per commitment. The company can be considered for business dealings at usual trade terms
and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
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.
INFORMATION PARTED BY
|
Name : |
Mr. Merwyn |
|
Designation : |
Finance Department |
|
Contact No.: |
91-22-22832971 |
|
Date : |
27.01.2015 |
LOCATIONS
|
Registered Office : |
Advanced Business Centre, 83, Maker Chamber VI, Nariman Point, Mumbai
– 400021, Maharashtra, India |
|
Tel. No.: |
91-22-22832971 / 27 |
|
Fax No.: |
91-22-22832823 |
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E-Mail : |
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|
Area: |
2000 Sq ft |
|
Location : |
Owned |
DIRECTORS
As on 15.09.2014
|
Name : |
Mr. Rajiv Bhandari |
|
Designation : |
Director |
|
Address : |
Flat No. 9, Sunshine, 156, Maharshi Carve Marg, Churchgate, Mumbai – 400020, Maharashtra, India |
|
Date of Birth/Age : |
21.12.1950 |
|
Date of Appointment : |
17.09.2008 |
|
DIN No.: |
00122546 |
|
|
|
|
Name : |
Mr. Percy Jal Dajee |
|
Designation : |
Director |
|
Address : |
Lady Jamshedji Building, 26, Hughes Road, Mumbai – 400007, Maharashtra, India |
|
Date of Birth/Age : |
09.09.1953 |
|
Date of Appointment : |
17.09.2008 |
|
DIN No.: |
01540860 |
|
|
|
|
Name : |
Mr. Richard Graham Giles |
|
Designation : |
Additional Director |
|
Address : |
19, Meadway, Harpenden, Hertfordshire AL51JN United Kingdom |
|
Date of Birth/Age : |
02.08.1977 |
|
Date of Appointment : |
10.03.2014 |
|
DIN No.: |
0679493 |
|
|
|
|
Name : |
Mr. Stephen Christopher Lussier |
|
Designation : |
Director |
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Address : |
5 Netherton Grove, London - SW109TQ, United Kingdom |
|
Date of Birth/Age : |
18.12.1957 |
|
Date of Appointment : |
08.09.2009 |
|
DIN No.: |
02794791 |
|
|
|
|
Name : |
Mr. Sachin Jain |
|
Designation : |
Managing Director |
|
Address : |
B- 402, Nagarjuna Apartments, Mayur Vihar Phase-I, New Delhi – 110096, India |
|
Date of Birth/Age : |
05.09.1976 |
|
Date of Appointment : |
10.08.2012 |
|
DIN No.: |
03641705 |
KEY EXECUTIVES
|
Name : |
Mr. Merwyn |
|
Designation : |
Finance Department |
|
|
|
|
Name : |
P P Shah and Company |
|
Designation : |
Company Secretaries |
|
Address : |
218, Veena Chambers, 21 Dalal Street, Fort, Mumbai – 400023,
Maharashtra, India |
|
Tel No.: |
91-22-22675812/22676339 |
|
Fax No.: |
91-22-22675812 |
|
Email: |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 15.09.2014
|
Names of Shareholders |
|
No. of Shares |
|
Forevermark Limited, United Kingdom |
|
1300089 |
|
Andrew Phillip Barton, South Africa |
|
1 |
|
Total |
|
1300090 |
Equity Share Break up (Percentage of Total Equity)
As on 15.09.2014
|
Category |
Percentage |
|
Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s),
Non-resident Indian(s) or Overseas Corporate bodies or Others |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Trader of Jewelley Display Items and Marketing |
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|
|
|
Brand Names : |
FOREVERMARK |
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Agencies Held : |
Not Divulged |
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Exports : |
Not Divulged |
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Imports : |
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Products : |
Display Item |
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Countries : |
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Terms : |
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Selling : |
Cash / Credit |
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Purchasing : |
Cash / Credit |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
20 (Approximately) |
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Bankers : |
Standard Chartered Bank, Mumbai, Maharashtra, India |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
Deloitte Haskins and Sells Chartered Accountants |
|
Address : |
Tower 3, 27 - 32nd Floor, Indiabulls Finance Centre, Elphinstone Mill
Compound, S B Marg, Elphinstone (West), Mumbai – 400013, Maharashtra, India |
|
Tel. No.: |
91-22-61854000 |
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Fax No.: |
91-22-61854501/4601 |
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PAN N Income-tax PAN of auditor or auditor's firm : |
AACFD4815A |
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Memberships : |
-- |
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Collaborators : |
-- |
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Holding Company : |
Forevermark Limited |
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Ultimate Holding
Company : |
Anglo American Plc through its subsidiary Forevermark Limited (a company incorporated under the laws of England and Wales) |
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Other Related
Parties : |
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CAPITAL STRUCTURE
As on 31.03.2014
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 |
|
|
|
|
|
|
1300090 |
Equity Shares |
Rs.10/- each |
Rs.13.001
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 |
13.001 |
13.001 |
13.001 |
|
(b) Reserves & Surplus |
59.559 |
41.715 |
19.116 |
|
(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) |
72.560 |
54.716 |
32.117 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
1.519 |
1.873 |
0.153 |
|
(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 |
10.559 |
7.650 |
|
Total
Non-current Liabilities (3) |
1.519 |
12.432 |
7.803 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade payables |
51.092 |
37.748 |
18.031 |
|
(c) Other current liabilities |
11.073 |
4.740 |
0.000 |
|
(d) Short-term provisions |
25.991 |
1.260 |
3.186 |
|
Total
Current Liabilities (4) |
88.156 |
43.748 |
21.217 |
|
|
|
|
|
|
TOTAL |
162.235 |
110.896 |
61.137 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
6.568 |
7.744 |
0.842 |
|
(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 |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
1.334 |
4.044 |
2.572 |
|
(d) Long-term Loan and Advances |
30.424 |
14.364 |
0.815 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
38.326 |
26.152 |
4.229 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
0.000 |
0.000 |
0.000 |
|
(c) Trade receivables |
0.000 |
2.068 |
0.000 |
|
(d) Cash and cash equivalents |
118.710 |
74.067 |
54.778 |
|
(e) Short-term loans and
advances |
1.642 |
8.499 |
2.099 |
|
(f) Other current assets |
3.557 |
0.110 |
0.031 |
|
Total
Current Assets |
123.909 |
84.744 |
56.908 |
|
|
|
|
|
|
TOTAL |
162.235 |
110.896 |
61.137 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Income |
327.845 |
247.868 |
|
|
|
Other Income |
20.677 |
5.122 |
|
|
|
TOTAL
(A) |
348.522 |
252.990 |
166.467 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Employees benefits expense |
48.796 |
38.319 |
|
|
|
Marketing expense |
206.546 |
151.675 |
|
|
|
Other expenses |
29.000 |
27.160 |
|
|
|
TOTAL
(B) |
284.342 |
217.154 |
143.795 (Including
Financial Expenses and Depreciation) |
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (C) |
64.180 |
35.836 |
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
0.377 |
0.253 |
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
63.803 |
35.583 |
|
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION (F) |
2.633 |
1.956 |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F) (G) |
61.170 |
33.627 |
22.672 |
|
|
|
|
|
|
|
Less |
TAX
(I) |
20.510 |
11.028 |
7.402 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-I)
(J) |
40.660 |
22.599 |
15.270 |
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
41.714 |
19.115 |
3.845 |
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
Transfer to General Reserve |
4.100 |
0.000 |
0.000 |
|
|
proposed Dividend |
19.501 |
0.000 |
0.000 |
|
|
Dividend Distribution Tax |
3.314 |
0.000 |
0.000 |
|
|
Balance
Carried to the B/S |
55.459 |
41.714 |
19.115 |
|
|
|
|
|
|
|
|
EARNINGS
IN FOREIGN CURRENCY |
327.845 |
247.868 |
33.253 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
31.27 |
17.38 |
11.75 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
12.40 |
9.12 |
NA |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
19.58 |
14.46 |
NA |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
38.02 |
31.47 |
38.71 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.84 |
0.61 |
0.71 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.02 |
0.03 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.41 |
1.94 |
2.68 |
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 |
13.001 |
13.001 |
13.001 |
|
Reserves & Surplus |
19.116 |
41.715 |
59.559 |
|
Net
worth |
32.117 |
54.716 |
72.560 |
|
|
|
|
|
|
long-term borrowings |
0.153 |
1.873 |
1.519 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Total
borrowings |
0.153 |
1.873 |
1.519 |
|
Debt/Equity
ratio |
0.005 |
0.034 |
0.021 |
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) |
|
Total Income |
166.467 |
252.990 |
348.522 |
|
|
|
51.976 |
37.761 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Total Income |
166.467 |
252.990 |
348.522 |
|
Profit |
15.270 |
22.599 |
40.660 |
|
|
9.17% |
8.93% |
11.67% |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES
OF LONG-TERM DEBT DETAILS:
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
(Rs. In Millions) |
||
|
Current maturities of long-term debt |
|
|
|
|
Lease obligation – Vehicles loan from a non- banking financial company
(Secured against hypothecation of vehicle) |
0.597 |
0.752 |
0.331 |
|
Less: Unmatured finance charges |
0.240 |
0.291 |
|
|
Total |
0.357 |
0.461 |
0.331
|
|
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 |
Yes |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
Yes |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact
person |
Yes |
|
11] |
Turnover of firm for last
three years |
Yes |
|
12] |
Profitability for last
three years |
Yes |
|
13] |
Reasons for variation
<> 20% |
-- |
|
14] |
Estimation for coming
financial year |
Yes |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister concerns |
Yes |
|
17] |
Major suppliers |
Yes |
|
18] |
Major customers |
Yes |
|
19] |
Payments terms |
Yes |
|
20] |
Export / Import details
(if applicable) |
Yes |
|
21] |
Market information |
-- |
|
22] |
Litigations that the firm
/ promoter involved in |
-- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking
account |
-- |
|
26] |
Buyer visit details |
-- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
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 |
INDEX
OF CHARGES: NO CHARGES EXIST FOR COMPANY
NOTE: The
registered office of the company has been shifted from No. 31, 3rd Floor, Makers
Chambers VI, Nariman Point, Mumbai – 400021, Maharashtra, India to present
address w.e.f. 25.05.2009
PERFORMANCE:
During the year, the total revenue from operations of the Company is Rs.327.845 Millions as compared to Rs.247.868 Millions in the previous 31st March, 2013. The profit before tax for the current year is Rs.61.170 Millions as compared to Rs.33.627 Millions during the previous 31st March, 2013. The profit after tax for the year is Rs.40.660 Millions and after adding thereon the balance of profit carried forward from previous year of Rs.41.714 Millions the total amount of surplus in the statement of profit and loss is Rs. 82.375 Millions.
OPERATIONS
2013 was a tought economic environment in India with s slowdown in the consumption. The wreaking of the India Rupee and getting into alarming heights of 1 USDA Rs. 88.8 right before the season time effect the whole pricing of diamonds and the trade did not stock up.
OVERVIEW
Subject was incorporated on June 6, 2008 as a Private Limited Company to carry on the business of coordinating and carry out marketing, publicity and promotional activities including brand promotion, market research, surveys and all other initiatives, associated services and support services in India in relation to the promotion of diamonds and diamond jewellery under the trade mark / brand name of "Forevermark".
FIXED ASSETS
- Furniture and Fixtures
- Office and Other Equipments
- Computer
- Vehicles
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.61.41 |
|
|
1 |
Rs.93.18 |
|
Euro |
1 |
Rs.69.82 |
INFORMATION DETAILS
|
Information
Gathered by : |
HNA |
|
|
|
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
KVT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILITY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
6 |
|
--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 |
|
48 |
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.