MIRA INFORM REPORT
|
Report No. : |
329160.2 |
|
Report Date : |
04.07.2015 |
IDENTIFICATION DETAILS
|
Name : |
PENGUIN BOOKS INDIA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
208, Ansal’s Laxmi Deep, Laxmi Nagar, District Centre, New Delhi – 110092 |
|
Tel. No.: |
91-124-4785606 |
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|
|
Country : |
India |
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|
|
Financials (as
on) : |
31.03.2014 |
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|
|
Date of
Incorporation : |
20.03.1985 |
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|
|
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Com. Reg. No.: |
55-020493 |
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|
|
|
Capital
Investment / Paid-up Capital : |
Rs.5.818 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U22110DL1985PTC020493 |
|
|
|
|
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
: |
Printers, Publishers ND Distributors of Books |
|
|
|
|
No. of Employees
: |
120 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
A (64) |
|
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 650000 |
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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 subsidiary of “The Penguin Random House Limited, United Kingdom
It is an established company having good track record. The company has shown a significant growth in its profitability during
FY 2014. Reserves of the company are decent. Fundamentals of the company are
strong and healthy. Trade relations are reported as fair. Business is active. Payments
terms are reported to be regular and as per commitment. 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.
ECGC Country Risk Classification List – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
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 |
CRISIL |
|
Rating |
Long Term Rating (A) |
|
Rating Explanation |
Adequate degree of safety and carry low
credit risk. |
|
Date |
16.02.2015 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2013.
INFORMATION PARTED BY
|
Name : |
Mr. Siddharth Sharma |
|
Designation : |
Sr. Finance Executive |
|
Contact No.: |
91-124-4785600 |
|
Date : |
26.06.2015 |
LOCATIONS
|
Registered Office : |
208, Ansal’s Laxmi Deep, Laxmi Nagar, District Centre, New Delhi –
110092, India |
|
Tel. No.: |
91-124-4785606 |
|
Fax No.: |
91-124-4785606 |
|
E-Mail : |
penguin.secretanal@in.penoguingroup.com |
|
Website : |
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|
|
|
Corporate Office : |
7th Floor, Infinity Tower, C, DLS Cyber, City, Gurgaon – 122002,
Haryana, India |
NOTE:
11, COMMUNITY CENTRE,
PANCHSHEEL PARK, NEW DELHI – 110017 TEL.: 011-26494401 is an old Address of the
Subject Company.
DIRECTORS
As on 30.09.2014
|
Name : |
Mr. John Crowther Makinson |
||||||||||||||||||||||||||||||||||||
|
Designation : |
Director |
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|
Address : |
|
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Date of Birth/Age : |
10.10.1954 |
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|
Date of Appointment : |
30.09.2002 |
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DIN No.: |
00894422 |
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|
||||||||||||||||||||||||||||||||||||
|
Name : |
Mr. Gaurav Shrinagesh |
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|
Designation : |
Director |
||||||||||||||||||||||||||||||||||||
|
Address : |
Tpsaf 02, A202, Palm Sprong Apartments, Sector 54, Golf Course Road,
Gurgaon – 122002, Haryana, India |
||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
14.09.1970 |
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|
Date of Appointment : |
30.09.2013 |
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DIN No.: |
02501993 |
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Other Directorship:
|
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Name : |
Mr. Sanjiv Gupta |
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Designation : |
Director |
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|
Address : |
B-6/63, Safdar Jung, Enclave, New Delhi – 110029, India |
||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
30.01.1968 |
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|
Date of Appointment : |
23.01.2012 |
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DIN No.: |
02240256 |
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|
||||||||||||||||||||||||||||||||||||
|
Name : |
Mr. Coram Williams |
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|
Designation : |
Director |
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|
Address : |
118 Breakspears Road, London, SE41UD |
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Date of Birth/Age : |
08.01.1974 |
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|
Date of Appointment : |
30.12.2011 |
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|
DIN No.: |
03511281 |
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KEY EXECUTIVES
|
Name : |
Mr. Siddharth Sharma |
|
Designation : |
Sr. Finance Executive |
|
|
|
|
Name : |
Ms. Karuna Sharma |
|
Designation : |
Company Secretary |
|
Address : |
St 29, House No 3942, 43 Padam Singh Road, Karol Bagh, New Delhi –
110005, India |
|
Date of Birth/Age : |
22.06.1982 |
|
Date of Appointment : |
01.06.2010 |
|
Pan No.: |
BAXPS3694C |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on As on 30.09.2014
|
Names of Shareholders |
No. of Shares |
%age
holding |
|
Penguin Random House Limited, United Kingdom |
32000 |
55.00 |
|
Penguin Random House PTE Limited, Singapore |
26181 |
45.00 |
|
Total |
58181 |
100.00 |
Equity Share Break up (Percentage of Total Equity)
As on As on 30.09.2014
|
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 : |
Printers, Publishers ND Distributors of Books |
|
|
|
|
Products : |
Not Divulged |
|
|
|
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Brand Names : |
Not Divulged |
|
|
|
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Agencies Held : |
Not Divulged |
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Exports : |
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|
Products : |
Finished Godds |
|
Countries : |
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|
|
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Imports : |
|
|
Products : |
Raw Material |
|
Countries : |
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Terms : |
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Selling : |
Cash , L/C and Credit |
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|
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Purchasing : |
Cash , L/C and Credit |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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No. of Employees : |
120 (Approximately) |
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Bankers : |
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Facilities : |
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Auditors : |
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|
Name : |
Price Waterhouse Chartered Accountants |
|
Address : |
Building No.8, Tower B, 7Th & 8Th Floor, Dlf Cyber
City, Gurgaon
– 122002, |
|
PAN N Income-tax PAN of auditor or auditor's firm : |
AAEFP3641G |
|
|
|
|
Memberships : |
Not Available |
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|
|
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Collaborators : |
Not Available |
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|
|
|
Associates : |
U72900dl2002ptc115697
U22110dl1997ptc089073
U22210dl2008ptc186245
|
|
|
|
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Other Relative parties : |
U22121WB1957PTC023534 |
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Holding Company : |
|
CAPITAL STRUCTURE
As on 30.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
100000 |
Equity Shares |
Rs.100/- each |
Rs.10.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
58181 |
Equity Shares |
Rs.100/- each |
Rs.5.818
Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Million]
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 |
5.818 |
5.818 |
5.818 |
|
(b) Reserves & Surplus |
222.523 |
424.161 |
454.630 |
|
(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) |
228.341 |
429.979 |
460.448 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities
(Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
6.353 |
7.464 |
7.019 |
|
(d) long-term provisions |
17.499 |
14.929 |
15.936 |
|
Total
Non-current Liabilities (3) |
23.852 |
22.393 |
22.955 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
90.000 |
0.000 |
0.000 |
|
(b) Trade payables |
458.841 |
598.746 |
513.700 |
|
(c) Other current liabilities |
23.625 |
24.346 |
32.082 |
|
(d) Short-term provisions |
73.222 |
57.607 |
73.414 |
|
Total
Current Liabilities (4) |
645.688 |
680.699 |
619.196 |
|
|
|
|
|
|
TOTAL |
897.881 |
1133.071 |
1102.599 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
22.740 |
21.733 |
25.904 |
|
(ii) Intangible Assets |
0.360 |
1.343 |
3.722 |
|
(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) |
0.000 |
64.864 |
47.286 |
|
(d) Long-term Loan and Advances |
23.420 |
23.730 |
43.874 |
|
(e) Other Non-current assets |
0.052 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
46.572 |
111.670 |
120.786 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
172.117 |
274.375 |
273.014 |
|
(c) Trade receivables |
540.474 |
583.410 |
530.472 |
|
(d) Cash and cash equivalents |
63.997 |
82.993 |
112.213 |
|
(e) Short-term loans and
advances |
74.721 |
80.623 |
66.045 |
|
(f) Other current assets |
0.000 |
0.000 |
0.069 |
|
Total
Current Assets |
851.309 |
1021.401 |
981.813 |
|
|
|
|
|
|
TOTAL |
897.881 |
1133.071 |
1102.599 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Income |
1285.802 |
1184.806 |
1137.234 |
|
|
Other Income |
10.978 |
7.525 |
NA |
|
|
TOTAL
(A) |
1296.780 |
1192.331 |
NA |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
893.802 |
780.388 |
|
|
|
Employees benefits expense |
134.758 |
144.121 |
|
|
|
Other expenses |
387.619 |
304.092 |
|
|
|
TOTAL
(B) |
1416.179 |
1228.601 |
1139.222 |
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (C) |
(119.399) |
(36.270) |
(1.988) |
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
3.448 |
0.000 |
NA |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
(122.847) |
(36.270) |
(1.988) |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION (F) |
13.661 |
10.141 |
19.854 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX (E-F) (G) |
(136.508) |
(46.411) |
(21.842) |
|
|
|
|
|
|
|
Less |
TAX (H) |
65.130 |
(15.942) |
0.327 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX (G-H) (I) |
(201.638) |
(30.469) |
(22.169) |
|
|
|
|
|
|
|
|
EARNINGS
IN FOREIGN CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
56.109 |
40.515 |
22.287 |
|
|
Subsidiary Rights Sale |
3.526 |
3.169 |
5.957 |
|
|
Others (Miscellaneous Income) |
3.911 |
0.237 |
1.362 |
|
|
TOTAL
EARNINGS |
63.546 |
43.921 |
29.606 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Trade Books |
523.235 |
467.195 |
437.912 |
|
|
TOTAL
IMPORTS |
523.235 |
467.195 |
437.912 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
3466.7 |
523.69 |
381.03 |
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current Maturities of Long term debt |
NA |
NA |
NA |
|
Cash generated from operations |
NA |
NA |
NA |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
(15.68) |
(2.57) |
(1.95) |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
(9.29) |
(3.06) |
(0.17) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(15.20) |
(4.34) |
(2.07) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.60) |
(0.11) |
(0.05) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.39 |
0.00 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.32 |
1.50 |
1.59 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Share Capital |
5.818 |
5.818 |
5.818 |
|
Reserves & Surplus |
454.630 |
424.161 |
222.523 |
|
Net
worth |
460.448 |
429.979 |
228.341 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
0.000 |
0.000 |
90.000 |
|
Total
borrowings |
0.000 |
0.000 |
90.000 |
|
Debt/Equity
ratio |
0.000 |
0.000 |
0.394 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Sales |
1137.234 |
1184.806 |
1285.802 |
|
|
|
4.183 |
8.524 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Sales |
1137.234 |
1184.806 |
1285.802 |
|
Profit |
(22.169) |
(30.469) |
(201.638) |
|
|
(1.95%) |
(2.57%) |
(15.68%) |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
|
1 |
Year of establishment |
Yes |
|
2 |
Constitution of the entity -Incorporation
details |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
No |
|
5 |
Buyer visit details |
-- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
Yes |
|
8 |
Designation of contact person |
Yes |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
No |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
Yes |
|
16 |
No. of employees |
Yes |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
Yes |
|
22 |
Conduct of the banking account |
-- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
Yes |
|
26 |
Turnover of firm for last three years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
Yes |
|
32 |
Litigations that the firm/promoter
involved in |
-- |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
Yes |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
OPERATIONS
The Company had revenues approximating to INR 1296.780 Million against
INR 1192.331 Million. The Company incurred losses worth INR 136.508 Million
against losses worth Rs. 46.411 Million for the previous year. After
considering previous years tax and deferred tax charge, the Company’s total
current losses, over the previous years losses amounted to INR 201.638 Million
The Directors are, however, confident that in the coming fiscal year,
your Company will perform better.
INDEX
OF CHARGES : NO CHARGES EXIST FOR THE COMPANY
FIXED ASSETS
- Plant and equipment
- Furniture and fixtures
- Vehicles
- Office equipment
- Computer equipments
- Leasehold improvements
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 records 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.63.39 |
|
|
1 |
Rs.98.94 |
|
Euro |
1 |
Rs.70.33 |
INFORMATION DETAILS
|
Information
Gathered by : |
PRT |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
SUJ |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILITY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
8 |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
64 |
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.