MIRA INFORM REPORT
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Report No. : |
330695 |
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Report Date : |
07.07.2015 |
IDENTIFICATION DETAILS
|
Name : |
GADGIL DIAMONDS PRIVATE LIMITED (w.e.f. 09.09.2014) |
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Formerly Known
As : |
FOUR C DIAMONDS PRIVATE LIMITED (w.e.f. 15.11.2010) SVG STONES AND TRADING PRIVATE LIMITED |
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Registered
Office : |
Office No 108/109/110, Options Primo, Plot X-21, Kondiveta, MIDC Cross
Road -21,CTS-31, Andheri (East), Mumbai – 400093, Maharashtra |
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Tel. No.: |
91-22-67084548 |
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Country : |
India |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
23.04.2008 |
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Com. Reg. No.: |
11-216739 |
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Capital
Investment / Paid-up Capital : |
Rs.4.080 Million |
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CIN No.: [Company Identification
No.] |
U51398MH2008PTC216739 |
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IEC No.: |
Not Available |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
Not Available |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer, Exporter and Importer of Diamond Jewellery. |
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No. of Employees
: |
70 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (43) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company incorporated in the year 2008. It has a satisfactory track record. For the financial year ended 2014, the company has good operational activity and has earned above average profitability margin and with an increase in sales turnover. During the year under a review, the company has increased its borrowings. However, rating reflects healthy financial risk profile marked by good reserves position of the company. Trade relations are reported as fair. Business active. Payments terms are slow but correct. In view of aforesaid, 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 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
|
Off-credit |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
Not Available |
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Rating |
Not Available |
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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
31-03-2013.
INFORMATION PARTED BY
|
Name : |
Mr. Vinayak Dhanvatri |
|
Designation : |
General Manager |
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Contact No.: |
91-9881107690 |
|
Date : |
07.07.2015 |
LOCATIONS
|
Registered Office / Factory: |
Office No 108/109/110, Options Primo, Plot X-21, Kondiveta, MIDC Cross
Road -21,CTS-31, Andheri (East), Mumbai – 400093, Maharashtra, India |
|
Tel. No.: |
91-22-67084548/49 |
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Mobile No.: |
91-9881107690 (Mr. Vinayak Dhanvatri) |
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Fax No.: |
Not Available |
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E-Mail : |
DIRECTORS
AS ON 30.09.2014
|
Name : |
Mrs. Radhika Saurabh Gadgil |
|
Designation : |
Director |
|
Address : |
2131, Kaustubh,Vijaya Nagar Colony, Sadashiv Peth, Pune -
, 411030, Maharashtra, India |
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Date of Birth/Age : |
22.09.1977 |
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Date of Appointment : |
23.04.2008 |
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DIN No.: |
00490499 |
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|
|
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Name : |
Mr. Saurabh Vidyadhar Gadgil |
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Designation : |
Director |
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Address : |
2131, Kaustubh,Vijaya Nagar Colony, Sadashiv Peth, Pune -
, 411030, Maharashtra, India |
|
Date of Birth/Age : |
09.05.1977 |
|
Date of Appointment : |
23.04.2008 |
|
DIN No.: |
00616563 |
KEY EXECUTIVES
|
Name : |
Mr. Vinayak Dhanvatri |
|
Designation : |
General Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2014
|
Names of Shareholders |
No. of Shares |
%age
holding |
|
SVG Investments Private Limited, India |
406000 |
99.51 |
|
Saurabh Vidyadhar Gadgil |
2000 |
0.49 |
|
Total |
408000 |
100.00 |
Equity Share Break up (Percentage of Total Equity)
AS ON 30.09.2014
|
Category |
Percentage |
|
Bodies corporate |
99.51 |
|
Directors or relatives of Directors |
0.49 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer, Exporter and Importer of Diamond Jewellery. |
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Products : |
Diamond Jewellery |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
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Products : |
Finished Gods |
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Countries : |
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Imports : |
Not Divulged |
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Terms : |
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Selling : |
L/C, Cash and Credit |
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Purchasing : |
L/C, Cash and Credit |
PRODUCTION STATUS: NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
Wholesalers, Retailers and End users
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No. of Employees : |
70 (Approximately) |
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Bankers : |
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Facilities : |
(Rs.
In Million)
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Auditors : |
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Name : |
Manas M Bapat Chartered Accountant |
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Address : |
1024/12 B, Mitranagar, Model Colony, Pune – 411016, Maharashtra, India
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Mobile No.: |
91-9890026206 |
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E-Mail : |
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PAN N Income-tax PAN of auditor or auditor's firm : |
AJSPB6675P |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Holding Company : |
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Common Director/Key Management personnel: |
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CAPITAL STRUCTURE
AS ON 30.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2000000 |
Equity Shares |
Rs.10/- each |
Rs.20.000 Million |
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|
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
|
|
|
|
408000 |
Equity Shares |
Rs.10/- each |
Rs.4.080
Million |
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|
|
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FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
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I.
EQUITY AND LIABILITIES |
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(1)Shareholders' Funds |
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|
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(a) Share Capital |
4.080 |
4.080 |
0.100 |
|
(b) Reserves &
Surplus |
25.126 |
21.171 |
1.365 |
|
(c) Money received
against share warrants |
0.000 |
0.000 |
0.000 |
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|
|
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(2) Share Application
money pending allotment |
0.000 |
0.000 |
0.000 |
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Total Shareholders’ Funds
(1) + (2) |
29.206 |
25.251 |
1.465 |
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|
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(3) Non-Current
Liabilities |
|
|
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|
(a) long-term borrowings |
105.672 |
2.576 |
39.999 |
|
(b) Deferred tax
liabilities (Net) |
0.071 |
0.054 |
0.005 |
|
(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) |
105.743 |
2.630 |
40.004 |
|
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|
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(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade payables |
44.973 |
54.395 |
41.411 |
|
(c) Other current
liabilities |
38.624 |
49.171 |
1.966 |
|
(d) Short-term provisions |
0.000 |
0.000 |
0.000 |
|
Total Current Liabilities
(4) |
83.597 |
103.566 |
43.377 |
|
|
|
|
|
|
TOTAL |
218.546 |
131.447 |
84.846 |
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II.
ASSETS |
|
|
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(1) Non-current assets |
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(a) Fixed Assets |
|
|
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(i) Tangible assets |
7.140 |
7.122 |
2.636 |
|
(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 |
0.180 |
0.000 |
0.000 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
13.503 |
1.029 |
2.686 |
|
(e) Other Non-current
assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
20.823 |
8.151 |
5.322 |
|
|
|
|
|
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(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
83.227 |
36.242 |
28.601 |
|
(c) Trade receivables |
112.019 |
64.416 |
44.368 |
|
(d) Cash and cash
equivalents |
1.690 |
20.585 |
4.669 |
|
(e) Short-term loans and
advances |
0.702 |
2.010 |
1.733 |
|
(f) Other current assets |
0.085 |
0.043 |
0.153 |
|
Total Current Assets |
197.723 |
123.296 |
79.524 |
|
|
|
|
|
|
TOTAL |
218.546 |
131.447 |
84.846 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
|
|
|
|
|
TOTAL INCOME |
329.530 |
246.392 |
91.565 |
|
|
|
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|
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TOTAL EXPENSES |
323.398 |
234.006 |
90.421 |
|
|
|
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|
|
PROFIT/ (LOSS) BEFORE TAX |
6.132 |
5.847 |
1.144 |
|
|
|
|
|
|
|
TAX |
2.177 |
1.961 |
0.341 |
|
|
|
|
|
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|
PROFIT/ (LOSS) AFTER TAX |
3.955 |
3.886 |
0.803 |
|
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|
|
|
|
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Balance Carried to the
B/S |
3.955 |
3.886 |
0.803 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (Rs.) |
9.69 |
21.32 |
80.39 |
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 (used in) operations |
(168.726) |
107.000 |
NA |
|
Net Cash flow from (used in) operating activity |
(168.316) |
(101.652) |
NA |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.81 |
4.45 |
1.35 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.21 |
0.23 |
0.78 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
3.62 |
0.10 |
27.30 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.37 |
1.19 |
1.83 |
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 |
0.100 |
4.080 |
4.080 |
|
Reserves & Surplus |
1.365 |
21.171 |
25.126 |
|
Net worth |
1.465 |
25.251 |
29.206 |
|
|
|
|
|
|
long-term borrowings |
39.999 |
2.576 |
105.672 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Total borrowings |
39.999 |
2.576 |
105.672 |
|
Debt/Equity ratio |
27.303 |
0.102 |
3.618 |
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) |
|
Total Income |
91.565 |
246.392 |
329.530 |
|
|
|
169.090 |
33.742 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Total Income |
91.565 |
246.392 |
329.530 |
|
Profit |
0.803 |
3.886 |
3.955 |
|
|
0.88% |
1.58% |
1.20% |
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 |
No |
|
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 |
DIAMOND INDUSTRY –
INDIA
From time immemorial, India is well known in the world as the birthplace
for diamonds. It is difficult to trace the origin of diamonds but history
says that in the remote past, diamonds were mined only in India. Diamond
production in India can be traced back to almost 8th Century B.C.
India, in fact, remained undisputed leader till 18th Century
when Brazilian fields were discovered in 1725 followed by emergence of S.
Africa, Russia and Australia.
The achievement of the Indian diamond industry was possible only due to
combination of the manufacturing skills of the Indian workforce and the
untiring and unflagging efforts of the Indian diamantaires, supported by
progressive Government policies.
The area of study of family owned diamond businesses derives its
importance from the huge conglomerate of family run organizations which operate
in the diamond industry since many generations.
Some of the basic traits of family run business enterprises include
spirit of entrepreneurship, mutual trust lowers transaction costs, small,
nimble and quick to react, information as a source of advantage and
philanthropy.
Family owned diamond businesses need to improve on many fronts including
higher standard of corporate governance, long-term performance – focused
strategies, modern management and technology.
Utmost caution is to be exercised while dealing with some medium and
large diamond traders which are usually engaged in fictitious import – export,
inter-company transactions, financially assisted by banks. In the process,
several public sector banks lost several hundred million rupees. They mostly
diverted borrowed money for diamond business into real estate and capital
markets.
Excerpts from Times of India dated 30th October 2010 is as
under –
Gem and Jewellery Export Promotion Council in its statistical data has
shown the export of polished diamonds to have increase by 28 % in February
2013. Compared to $ 1.4 bn worth of polished diamond export in February, 2012,
India exported $ 1.84 billion worth of polished diamonds in February 2013. A
senior executive of GJEPC said, “Export of cut and polished diamonds started
falling month-wise after the imposition of 2 % of import duty on the polished
diamonds. But February, 2013 has given a new ray of hope to the industry as the
export of polished diamonds has actually increased by 28 %. It means the
industry is on the track of recovery and round tripping of diamonds has
stopped completely.” Demand has started coming from the US, the UK, Japan and
China. India’s polished diamond export is expected to cross $ 21 bn in 2013-14.
The banking sector has started exercising restraint while following
prudent risk management norms when lending money to gems and jewellery sector.
This follows the implementation of Basel III accord – a global voluntary
regulatory standard on bank capital adequacy, stress testing and market
liquidity.
NOTE: Registered office of the company has been shifted from PNG House Laxmi Road, 694 Narayan Peth, Pune – 411030, Maharashtra India to the present address w.e.f. 08.04.2011
RESULTS AND
OPERATIONS
The revenue of the Company. After expenses and tax, the profits of the Company have shown a steep rise as compared to the previous year. The Directors are constantly taking efforts increase the market hare and tap new opportunities
UNSECURED LOAN
|
Particulars |
|
As
on 31.03.2014 |
As
on 31.03.2013 |
|
LONG TERM
BORROWING |
|
|
|
|
Loan From Related Parties |
|
67.703 |
2.000 |
|
Total |
|
67.703 |
2.000 |
INDEX
OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
10512507 |
30/06/2014 |
28,400,000.00 |
INDUSIND BANK LIMITED |
2401 GEN THIMMAYYA ROAD,
CANTONMENT, PUNE, MAHARA |
C14800676 |
|
2 |
10485052 |
13/03/2014 |
130,000,000.00 |
BANK OF MAHARASHTRA |
479/5, SADHANA, H.K.M. ROAD, MODEL COLONY, PUNE 4110016, PUNE, MAHARASHTRA - 411016, INDIA |
C00559138 |
|
3 |
10483044 |
17/03/2015 * |
7,500,000.00 |
SHREE SHARADA SAHAKARI BANK LIMITED |
SHANIWAR PETH BRANCH, 266,
KAMALRAJ, OMKARESHWAR, |
C49999907 |
|
4 |
10472879 |
20/01/2014 |
101,100,000.00 |
RELIANCE CAPITAL LIMITED |
"H" BLOCK 1ST FLOOR, DHIRUBHAI AMBANI KNOWLEDGE CITY, KOPARKHAIRNE, NAVI MUMBAI, MAHARASHTRA - 400710, INDIA |
B94483146 |
* Date of charge modification
FIXED ASSETS
Tangible assets
- Building
- Plant and Machinery
- Office Equipment
- Furniture and Fixtures
- Computers
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.63.58 |
|
UK Pound |
1 |
Rs.99.11 |
|
Euro |
1 |
Rs.70.29 |
INFORMATION DETAILS
|
Information
Gathered by : |
PRT |
|
|
|
|
Analysis Done by
: |
TRI |
|
|
|
|
Report Prepared
by : |
GTA/ KVT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILITY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
4 |
|
--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 |
Yes |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
43 |
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.