MIRA INFORM REPORT
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Report No. : |
332225 |
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Report Date : |
15.07.2015 |
IDENTIFICATION DETAILS
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Name : |
SAI DEEPA ROCK DRILLS PRIVATE LIMITED |
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Registered
Office : |
Plot. No 106, Phase II, IDA Cherlapalli, Hyderabad - 500051, Telangana
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Tel No.: |
91-40-27260217 / 27260438 / 27260439 |
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Country : |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
19.01.2000 |
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Com. Reg. No.: |
01-033310 |
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Capital
Investment / Paid-up Capital : |
Rs.13.056
Million |
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CIN No.: [Company Identification
No.] |
U29150TG2000PTC033310 |
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TIN No.: |
Not Available |
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IEC No.: |
0902010999 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
HYDS05110A |
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PAN No.: [Permanent Account No.] |
AAFCS6791L |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer of DTH Hammers and DTH Button Bits. |
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No. of Employees
: |
120(Approximately) |
RATING & COMMENTS
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MIRA’s Rating : |
Ba (50) |
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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 830000 |
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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 having satisfactory track record. Rating takes into consideration, subject’s healthy financial profile
marked by strong networth base, relatively low gearing and healthy profit
margins. Trade relations are fair. Business is active. Payment terms are
reported to be usually correct. Subject can be considered for business dealings at usual trade terms
and conditions. |
ECGC Country Risk Classification List – March 31, 2015
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Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
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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
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. Banerjee |
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Designation : |
Account Manager |
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Contact No.: |
91-9391162962 |
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Date : |
14.07.2015 |
LOCATIONS
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Registered Office / Factory : |
Plot. No 106, Phase II, IDA Cherlapalli, Hyderabad - 500051, Telangana
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Tel. No.: |
91-40-27260217 / 27260438 / 27260439 |
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Fax No.: |
91-40-27260434 / 27261231 |
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E-Mail : |
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Website : |
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Location : |
Owned |
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Plants 1 /
Branch Office 1 : |
Plot No. 33 and 34, IDA Phase V, Cherlapally, Hyderabad - 500051,
Telangana, India |
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Plants 2 /
Branch Office 2 : |
Plot No. 164 and 165, IDA Phase III, IP Pashamailaram, Medak District - 502307, Telangana, India |
DIRECTORS
As on 31.08.2014
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Name : |
Mrs. Uma Rani Nutakki |
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Designation : |
Managing Director |
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Address : |
Plot.No.187,
Hasthinapuri Colony, Sainikpuri, Hyderabad-500094, Telangana, India |
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Date of Birth/Age : |
02.08.1959 |
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Date of Appointment : |
01.04.2015 |
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DIN No.: |
01311510 |
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Other Directorship:
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Name : |
Mr. Suresh Palle |
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Designation : |
Director |
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Address : |
Plot.No.27 and
28, Javaharnagar Colony, Moula – Ali, Hyderabad- 500040, Telangana, India |
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Date of Birth/Age : |
08.07.1962 |
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Date of Appointment : |
01.04.2015 |
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DIN No.: |
01858600 |
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Other Directorship:
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Name : |
Mr. Ranga Rao Nutakki |
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Designation : |
Additional Director |
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Address : |
Plot No.187, D.No.3-187, Hasthinapuri Colony Sainikpuri Hyderabad –
500094, Telangana, India |
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Date of Birth/Age : |
15.12.1954 |
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Date of Appointment : |
01.04.2015 |
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DIN No.: |
01841382 |
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Other Directorship:
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KEY EXECUTIVES
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Name : |
Mr. Banerjee |
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Designation : |
Account Manager |
MAJOR SHAREHOLDERS
As on 31.08.2014
|
Names of Shareholders |
No. of Shares |
%age
holding |
|
N Ranga Rao |
455077 |
34.86 |
|
N Uma Rani |
509927 |
39.06 |
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P Suresh |
130556 |
10.00 |
|
Sri Samhitha Systems Private Limited, India |
100000 |
7.66 |
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N Sunil Kumar |
55000 |
4.21 |
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N. Aarthi |
55000 |
4.21 |
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Total |
1305560 |
100.00 |
As on 31.08.2014
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of DTH Hammers and DTH Button Bits. |
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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 : |
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Products : |
Finished Goods |
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Countries : |
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Imports : |
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Products : |
Raw Material |
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Countries : |
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Terms : |
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Selling : |
Cash, L/C, Cheque and Credit |
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Purchasing : |
Cash, L/C, Cheque and Credit |
PRODUCTION STATUS = NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
Wholesaler, Retailers and Manufacturer
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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 : |
K.S. Ramakrishna and Company Chartered Accountants |
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Address : |
285 and 286, Chenoy Trade Centre, Park Lane, Secunderabad - 500003,
Telangana, India |
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Tel. No.: |
91-40-27845499 |
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Mobile No.: |
91-9391013575 |
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E-Mail : |
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PAN No.: |
AABFK9781B |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Associate : |
Cenerg Global Tools Private Limited |
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Directors having control : |
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Directors having significant influence and control : |
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Proprietorship concern of Director Mr. P. Suresh : |
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Proprietorship concern of Directors (Mr. N Ranga Rao) relative Mr. N.
Sunil Kumar : |
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Partnership firm in which Director has significant influence : |
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CAPITAL STRUCTURE
As on 31.03.2014
Authorised Capital:
|
No. of Shares |
Type |
Value |
Amount |
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|
2000000 |
Equity Shares |
Rs.10/- each |
Rs.20.000 Million |
Issued, Subscribed & Paid-up Capital:
|
No. of Shares |
Type |
Value |
Amount |
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|
|
|
|
1305560 |
Equity Shares |
Rs.10/- each
|
Rs.13.056
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 |
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(1)Shareholders' Funds |
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(a) Share Capital |
13.056 |
13.056 |
13.056 |
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(b) Reserves & Surplus |
279.226 |
140.956 |
95.133 |
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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 |
8.000 |
0.000 |
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Total
Shareholders’ Funds (1) + (2) |
292.282 |
162.012 |
108.189 |
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(3)
Non-Current Liabilities |
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(a) long-term borrowings |
53.373 |
59.588 |
37.877 |
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(b) Deferred tax liabilities (Net) |
13.051 |
12.865 |
10.779 |
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(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) |
66.424 |
72.453 |
48.656 |
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(4)
Current Liabilities |
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(a) Short
term borrowings |
73.952 |
80.798 |
73.610 |
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(b) Trade
payables |
90.186 |
93.175 |
33.507 |
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(c) Other
current liabilities |
25.320 |
20.807 |
33.583 |
|
(d) Short-term
provisions |
1.601 |
1.331 |
0.517 |
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Total Current
Liabilities (4) |
191.059 |
196.111 |
141.217 |
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TOTAL |
549.765 |
430.576 |
298.062 |
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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 |
139.310 |
127.993 |
124.591 |
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(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
3.679 |
0.000 |
0.000 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
40.971 |
40.589 |
11.766 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
0.000 |
0.000 |
0.000 |
|
(e) Other
Non-current assets |
40.795 |
13.202 |
11.000 |
|
Total Non-Current
Assets |
224.755 |
181.784 |
147.357 |
|
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(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
115.983 |
56.078 |
51.101 |
|
(c) Trade
receivables |
158.570 |
164.069 |
88.447 |
|
(d) Cash
and cash equivalents |
1.540 |
2.088 |
1.058 |
|
(e) Short-term
loans and advances |
48.917 |
26.557 |
10.099 |
|
(f) Other
current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
325.010 |
248.792 |
150.705 |
|
|
|
|
|
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TOTAL |
549.765 |
430.576 |
298.062 |
PROFIT & LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
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|
|
Income |
654.834 |
609.266 |
388.419 |
|
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Other Income |
8.776 |
4.806 |
4.002 |
|
|
TOTAL |
663.610 |
614.072 |
392.421 |
|
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|
|
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|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
386.592 |
362.534 |
253.531 |
|
|
Changes in Inventories of finished goods, work-in-progress and
stock-in-trade |
(14.306) |
1.865 |
(33.415) |
|
|
Employee Benefits Expenses |
20.151 |
15.062 |
11.014 |
|
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Other Expenses |
192.193 |
163.961 |
109.989 |
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Exceptional Items |
(99.994) |
(15.960) |
0.000 |
|
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TOTAL |
484.636 |
527.462 |
341.119 |
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PROFIT/(LOSS)
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
178.974 |
86.610 |
51.302 |
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|
Less |
FINANCIAL
EXPENSES |
16.657 |
14.611 |
12.700 |
|
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|
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PROFIT/(LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION |
162.317 |
71.999 |
38.602 |
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|
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|
Less |
DEPRECIATION/
AMORTISATION |
8.329 |
7.336 |
6.480 |
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PROFIT/(LOSS)
BEFORE TAX |
153.988 |
64.663 |
32.122 |
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|
Less |
TAX |
15.718 |
18.839 |
10.871 |
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PROFIT/(LOSS)
AFTER TAX |
138.270 |
45.824 |
21.251 |
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EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
Export Earnings |
242.967 |
251.401 |
137.526 |
|
|
TOTAL EARNINGS |
242.967 |
251.401 |
137.526 |
|
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|
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|
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IMPORTS |
|
|
|
|
|
Raw Materials |
108.915 |
82.333 |
22.060 |
|
|
Capital Goods |
0.000 |
6.987 |
0.000 |
|
|
TOTAL IMPORTS |
108.915 |
89.320 |
22.060 |
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Earnings /
(Loss) Per Share (Rs.) |
105.91 |
35.10 |
16.28 |
|
Particulars |
|
|
31.03.2015 |
|
Sales Turnover (Approximately) |
|
|
980.000 |
Expected Sales (2015-16): Rs.1150.000 Million
The above information has been parted by Mr. Banerjee (Account Manager).
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current Maturities of Long term debt |
10.115 |
7.115 |
8.290 |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net cash flows from (used in) operations |
NA |
NA |
NA |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT/Sales) |
(%) |
21.12 |
7.52 |
5.47 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT / Sales) |
(%) |
27.33 |
14.22 |
13.21 |
|
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|
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|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
30.49 |
16.58 |
11.22 |
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|
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|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.53 |
0.40 |
0.30 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.47 |
0.87 |
1.03 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.70 |
1.27 |
1.07 |
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 |
13.056 |
13.056 |
13.056 |
|
Reserves & Surplus |
95.133 |
140.956 |
279.226 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money pending allotment |
0.000 |
8.000 |
0.000 |
|
Net
worth |
108.189 |
162.012 |
292.282 |
|
|
|
|
|
|
Long Term borrowings |
37.877 |
59.588 |
53.373 |
|
Short Term borrowings |
73.610 |
80.798 |
73.952 |
|
Current Maturities of Long term debt |
8.290 |
7.115 |
10.115 |
|
Total
borrowings |
119.777 |
147.501 |
137.440 |
|
Debt/Equity
ratio |
1.107 |
0.910 |
0.470 |
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 |
388.419 |
609.266 |
654.834 |
|
|
|
56.858 |
7.479 |
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
|
388.419 |
609.266 |
654.834 |
|
Profit |
21.251 |
45.824 |
138.270 |
|
|
5.47% |
7.52% |
21.12% |
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 |
Yes |
|
19 |
Major customers |
Yes |
|
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 four years |
Yes |
|
27 |
Reasons for variation <> 20% |
---------------------- |
|
28 |
Estimation for coming financial year |
Yes |
|
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 |
UNSECURED LOAN
|
Particulars |
31.03.2014 Rs. In Million |
31.03.2013 Rs. In Million |
|
LONG TERM BORROWINGS |
|
|
|
Loans and advances from related parties |
7.608 |
3.500 |
|
Loans and advances from other |
24.056 |
42.006 |
|
Total |
31.664 |
45.506 |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
10514916 |
12/08/2014 |
12,000,000.00 |
SMALL INDUSTRIES DEVELOPMENT BANK OF INDIA |
101, HERMITAGE OFFICE COMPLEX, 1ST FLOOR, SAIFABAD, HYDERABAD - 500004, TELANGANA, INDIA |
C16420473 |
|
2 |
10414489 |
30/03/2013 |
23,000,000.00 |
A.P.STATE FINANCIAL CORPORATION |
RAMACHANDRA PURAM, HYDERABAD - 502032, ANDHRA PRADESH, INDIA |
B71694434 |
|
3 |
10388397 |
04/12/2013 * |
55,000,000.00 |
CANARA BANK |
FIRST FLOOR,VAMSI ESTATE,, AMIRPET, HYDERABAD - 500016, ANDHRA PRADESH, INDIA |
B92959931 |
|
4 |
10345524 |
04/04/2012 |
56,000,000.00 |
A.P. STATE FINANCIAL CORPORATION |
RAMACHANDRA PURAM, HYDERABAD - 502032, ANDHRA PRADESH, INDIA |
B36268084 |
|
5 |
10206661 |
26/02/2015 * |
149,600,000.00 |
CANARA BANK |
6-3-1086, VISTA GRAND TOWERS, RAJ BHAVAN ROAD, SOMAJIGUDA, HYDERABAD - 500082, TELANGANA, INDIA |
C48055743 |
|
6 |
10186838 |
22/12/2010 * |
7,200,000.00 |
SMALL INDUSTRIES DEVELOPMENT BANK OF INDIA |
101, HERMITAGE OFFICE COMPLEX, 1ST FLOOR, SAIFABAD, HYDERABAD - 500004, ANDHRA PRADESH, INDIA |
B02410165 |
* Date of charge modification
FIXED ASSETS
·
Land
·
Building
·
Plant and Machinery
·
Computer
·
Vehicles
·
Furniture and Fixture
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.63.49 |
|
|
1 |
Rs.98.19 |
|
Euro |
1 |
Rs.69.72 |
INFORMATION DETAILS
|
Information
Gathered by : |
DIP |
|
|
|
|
Analysis Done by
: |
SAN |
|
|
|
|
Report Prepared
by : |
PNM |
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 |
8 |
|
--LIQUIDITY |
1~10 |
6 |
|
--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 |
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 |
|
50 |
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.