MIRA INFORM REPORT
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Report No. : |
331835 |
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Report Date : |
14.07.2015 |
IDENTIFICATION DETAILS
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Name : |
BLS ECOTECH LIMITED (w.e.f. 29.10.2010) |
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Formerly Known
As : |
BLS
ETHANOL LIMITED BLS
INFOTECH PRIVATE LIMITED |
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Registered
Office : |
910, Indraprakash Building, 21, Barakhamba Road, New Delhi – 110 001 |
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Tel. No.: |
91-11-23918066 |
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Country : |
India |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
21.01.1999 |
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Com. Reg. No.: |
55-098024 |
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Capital
Investment / Paid-up Capital : |
Rs.167.423 million |
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CIN No.: [Company Identification
No.] |
U74899DL1999PLC098024 |
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IEC No.: |
Not Available |
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TAN No.: [Tax Deduction &
Collection Account No.] |
DELB06913E |
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PAN No.: [Permanent Account No.] |
AABCB1732A |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Manufacturer of Polyester Staple Fibre, PET Granules and
Flakes. |
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No. of Employees
: |
Information declined by the Management. |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (46) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 1255000 |
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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 old and established company incorporated during the year
1999 having a satisfactory track record. Available financial indicates company sound financial risk profile
marked by healthy networth position with good profitability and favorable gap
between trade payable and trade receivable. Trade relations are reported as fair. Business is active. Payment
terms are reported to be usually correct. In view of long standing record and acceptable financial base, 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 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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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 |
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Off-credit |
D |
EXTERNAL AGENCY RATING
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Rating Agency Name |
CRISIL |
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Rating |
Long-Term Bank Loan Facilities: BBB- |
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Rating Explanation |
Moderate degree of safety and moderate credit risk. |
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Date |
November 05, 2014 |
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 DECLINED BY
|
Name : |
Mr. Abhishek Singh |
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Designation : |
Accountant |
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Contact No.: |
91-11-23918066 |
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Date : |
11.07.2015 |
LOCATIONS
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Registered Office : |
910, Indraprakash Building, 21, Barakhamba Road, New Delhi – 110 001,
India |
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Tel. No.: |
91-11-23918066/ 23989652 |
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Fax No.: |
91-11-23993096 |
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E-Mail : |
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Website : |
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Factory 1 : |
E-43 (C), (D) and (E-1) Sector 6, RIICO Industrial Area, Khushkhera, Bhiwadi,
Rajasthan, India |
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Factory 2 : |
Plot No. SP- 179, Industrial Area, Kaharani, Bhiwadi Extension,
Rajasthan, India |
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Factory 3 : |
Plot No. SP-12, Keshwana Industrial Area, Kotputli, Rajasthan, India |
DIRECTORS
AS ON 30.09.2014
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Name : |
Mr. Madhukar Aggarwal |
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Designation : |
Director |
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Address : |
04, Shankaracharya Marg, Civil Lines, New Delhi – 110 054, India |
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Date of Birth/Age : |
13.03.1961 |
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Date of Appointment : |
01.01.2009 |
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DIN No: |
00144736 |
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Other Directorship :
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Name : |
Mr. Vinod Aggarwal |
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Designation : |
Director |
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Address : |
04, Shankaracharya Marg, Civil Lines, New Delhi – 110 054, India |
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Date of Birth/Age : |
25.06.1954 |
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Date of Appointment : |
21.01.2013 |
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DIN No: |
00135390 |
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Other Directorship :
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Name : |
Mr. Sushil Aggarwal |
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Designation : |
Director |
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Address : |
04, Shankaracharya Marg, Civil Lines, New Delhi – 110 054, India |
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Date of Birth/Age : |
09.03.1957 |
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Date of Appointment : |
21.01.1999 |
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DIN No: |
00144645 |
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Other Directorship :
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Name : |
Mr. Diwakar Aggarwal |
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Designation : |
Director |
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Address : |
04, Shankaracharya Marg, Civil Lines, New Delhi – 110 054, India |
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Date of Birth/Age : |
25.02.1963 |
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Date of Appointment : |
27.08.2001 |
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DIN No: |
00144645 |
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Other Directorship :
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Name : |
Mr. Nimit Aggarwal |
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Designation : |
Director |
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Address : |
04, Shankaracharya Marg, Civil Lines, New Delhi – 110 054, India |
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Date of Birth/Age : |
30.12.1991 |
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Date of Appointment : |
02.07.2014 |
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KEY EXECUTIVES
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Name : |
Mr. Gopabandhu Mishra |
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Designation : |
Secretary |
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Address : |
26/814, DDA Flat, Madangiri,
Delhi – 110 062, India |
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Date of Birth/Age : |
27.05.1982 |
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Date of Appointment : |
02.07.2014 |
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PAN No.: |
AVNPM7024J |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2014
Note:
Shareholding details file attached.
AS ON 30.09.2014
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Equity Share Breakup |
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Percentage of Holding |
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Category |
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|
|
Bodies
corporate |
|
67.62 |
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Directors
or relatives of directors |
|
32.38 |
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Total |
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100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of Polyester Staple Fibre, PET Granules and
Flakes. |
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Products : |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
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Selling : |
Not Divulged |
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Purchasing : |
Not Divulged |
PRODUCTION STATUS: NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
Information declined by the Management. |
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Bankers : |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Gupta Jalan and Associates Chartered Accountants |
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Address : |
Sector-10, Rohini, Delhi – 110 085, India |
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Income-tax
PAN of auditor or auditor's firm : |
AAAFG5993N |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Associates/Subsidiaries : |
Not Available |
CAPITAL STRUCTURE
AS ON 30.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
17000000 |
Equity Shares |
Rs.10/- each |
Rs.170.000 million |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
|
17000000 |
Equity Shares |
Rs.10/- each |
Rs.170.000
million |
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AS ON 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
16742277 |
Equity Shares |
Rs.10/- each |
Rs.167.423 million |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
16742277 |
Equity Shares |
Rs.10/- each |
Rs.167.423 million |
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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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(a) Share Capital |
167.423 |
167.423 |
135.966 |
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(b) Reserves &
Surplus |
271.832 |
224.902 |
129.603 |
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(c) Money received
against share warrants |
0.000 |
0.000 |
0.000 |
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(2)
Share Application money pending allotment |
0.000 |
0.000 |
20.000 |
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Total Shareholders’ Funds
(1) + (2) |
439.255 |
392.325 |
285.569 |
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(3)
Non-Current Liabilities |
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(a) Long-term borrowings |
294.588 |
341.652 |
138.197 |
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(b) Deferred tax
liabilities (Net) |
25.067 |
22.999 |
12.129 |
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(c) Other long term liabilities |
41.384 |
61.912 |
22.973 |
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(d) Long-term provisions |
0.000 |
0.000 |
0.000 |
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Total Non-current
Liabilities (3) |
361.039 |
426.563 |
173.299 |
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(4)
Current Liabilities |
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(a) Short term borrowings |
313.818 |
127.301 |
125.098 |
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(b) Trade payables |
45.848 |
46.545 |
14.499 |
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(c) Other current
liabilities |
21.212 |
15.169 |
13.927 |
|
(d) Short-term provisions |
18.636 |
8.847 |
7.191 |
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Total Current Liabilities
(4) |
399.514 |
197.862 |
160.715 |
|
|
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TOTAL |
1199.808 |
1016.750 |
619.583 |
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II.
ASSETS |
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(1)
Non-current assets |
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|
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(a)
Fixed Assets |
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|
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(i) Tangible assets |
752.291 |
710.775 |
354.074 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
0.000 |
0.000 |
3.639 |
|
(iv) Intangible assets
under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
0.000 |
0.000 |
0.000 |
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(c) Deferred tax assets
(net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
10.437 |
12.295 |
14.330 |
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(e) Other Non-current
assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
762.728 |
723.070 |
372.043 |
|
|
|
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|
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(2)
Current assets |
|
|
|
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(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
240.263 |
158.393 |
136.244 |
|
(c) Trade receivables |
72.530 |
34.598 |
29.087 |
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(d) Cash and cash
equivalents |
14.197 |
11.890 |
11.588 |
|
(e) Short-term loans and
advances |
110.090 |
88.799 |
70.621 |
|
(f) Other current assets |
0.000 |
0.000 |
0.000 |
|
Total Current Assets |
437.080 |
293.680 |
247.540 |
|
|
|
|
|
|
TOTAL |
1199.808 |
1016.750 |
619.583 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
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Revenue from operations |
1864.816 |
1026.533 |
500.466 |
|
|
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Other Income |
1.572 |
0.835 |
0.412 |
|
|
|
TOTAL |
1866.388 |
1027.368 |
500.878 |
|
|
|
|
|
|
|
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Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials
consumed |
1399.798 |
732.657 |
420.670 |
|
|
|
Changes in inventories of finished goods,
work-in-progress and stock-in-trade |
(23.303) |
3.890 |
(70.469) |
|
|
|
Employee benefit expense |
28.628 |
22.425 |
11.756 |
|
|
|
Other expenses |
243.906 |
156.010 |
70.047 |
|
|
|
TOTAL |
1649.029 |
914.982 |
432.004 |
|
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|
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|
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Less |
PROFIT/ (LOSS)
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
217.359 |
112.386 |
68.874 |
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|
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|
|
|
|
Less |
FINANCIAL
EXPENSES |
74.840 |
41.113 |
23.401 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION |
142.519 |
71.273 |
45.473 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
80.699 |
36.021 |
24.066 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
61.820 |
35.252 |
21.407 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
14.890 |
18.596 |
17.350 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
46.930 |
16.656 |
4.057 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
FOB Value of Export |
31.538 |
5.884 |
0.000 |
|
|
TOTAL EARNINGS |
31.538 |
5.884 |
0.000 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Machinery Parts |
0.364 |
0.735 |
2.062 |
|
|
|
Machinery Purchases |
44.145 |
75.889 |
0.000 |
|
|
|
Purchases |
11.331 |
4.569 |
2.899 |
|
|
TOTAL IMPORTS |
55.840 |
81.193 |
4.961 |
|
|
|
(Purchases
through High Seas Contracts has not been included in CIF Value of imports) |
|
|
|
|
|
|
|
|
|
|
|
|
|
Earnings/ (Loss)
Per Share (Rs.) |
2.80 |
1.23 |
NA |
|
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 |
|
Net
cash flows from (used in) operations |
61.820 |
35.252 |
NA |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
2.52 |
1.62 |
0.81 |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
11.66 |
10.95 |
13.76 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
5.15 |
3.47 |
3.48 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.14 |
0.09 |
0.07 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
1.39 |
1.20 |
0.92 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.09 |
1.48 |
1.54 |
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 |
135.966 |
167.423 |
167.423 |
|
Reserves & Surplus |
129.603 |
224.902 |
271.832 |
|
Money received against
share warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
20.000 |
0.000 |
0.000 |
|
Net worth |
285.569 |
392.325 |
439.255 |
|
|
|
|
|
|
Long-term borrowings |
138.197 |
341.652 |
294.588 |
|
Short term borrowings |
125.098 |
127.301 |
313.818 |
|
Total borrowings |
263.295 |
468.953 |
608.406 |
|
Debt/Equity ratio |
0.922 |
1.195 |
1.385 |
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) |
|
Revenue from operations |
500.466 |
1026.533 |
1864.816 |
|
|
|
105.115 |
81.662 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Revenue from operations |
500.466 |
1026.533 |
1864.816 |
|
Profit |
4.057 |
16.656 |
46.930 |
|
|
0.81% |
1.62% |
2.52% |
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) |
No |
|
16 |
No. of employees |
No |
|
17 |
Details of sister concerns |
No |
|
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 |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
OPERATIONS:
During the period, the company has achieved a Sales and other income of
Rs.1866.388 million and incurred profit after tax Rs.49.118 million as against
previous year Sales and other income of Rs.1027.367 million and Profit after
Tax of Rs.27.798 million. They will appreciate that Company has improved the
position as compare to the previous year and making vigorous efforts to perform
better.
MANAGEMENT
DISCUSSIONS AND ANALYSIS REPORT:
Structure and
Developments, Opportunities and Threats, Performance, outlook, Risks and
concerns:
The slowing down of the economy globally and the current market
conditions had a downward effect on the Polyester Staple Fibre sector during
the year 2013-14 affecting the sales. Despite the adverse market conditions and
slowing down of the economy, the Company was able to achieve turnover of
1850.000 million as against 1030.000 million of the Previous Year 2012-2013.
The present adverse market conditions are expected to change during the
next year 2014-15 due to industry favour Government in Centre. The Company
expects to achieve around 20% growth in sales during the year 2014-15.
FIXED ASSETS:
·
Land
·
Buildings
·
Plant and Equipments
·
Other Pollution Reduction Equipment
·
Furniture and Fixtures
·
Vehicles
·
Computer Equipments
·
Office Equipments
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.63.46 |
|
UK Pound |
1 |
Rs.98.47 |
|
Euro |
1 |
Rs.70.69 |
INFORMATION DETAILS
|
Information
Gathered by : |
PPT |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
JYO/ SMN |
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 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
46 |
This score serves as a reference to assess
SC’s credit risk and to set the amount of credit to be extended. It is calculated
from a composite of weighted scores obtained from each of the major sections of
this report. The assessed factors and their relative weights (as indicated
through %) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment record
(10%)
Credit history
(10%) Market trend (10%) Operational size
(10%)
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
-- |
NB |
New Business |
-- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.