MIRA INFORM REPORT
|
Report No. : |
331909 |
|
Report Date : |
15.07.2015 |
IDENTIFICATION DETAILS
|
Name : |
DOLARIA ENTERPRISES PRIVATE LIMITED |
|
|
|
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Registered
Office : |
305 Kalash -1, B/H Navrangpura Post Office, Near Jain Temple, Navrangpura,
Ahmedabad – 380009, Gujarat |
|
Tel. No.: |
91-79-26420071 |
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|
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Country : |
India |
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|
Financials (as
on) : |
31.03.2014 |
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|
Date of
Incorporation : |
03.07.1996 |
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Com. Reg. No.: |
04-030109 |
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|
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Capital Investment
/ Paid-up Capital : |
Rs.1.000 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U17119GJ1996PTC030109 |
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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
: |
Trader of Commission agent cotton. |
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|
|
|
No. of Employees
: |
5 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (43) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
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|
|
|
Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company incorporated during the year 1996.
It has a satisfactory track. The company has seen a declined in its profitability margin and in its
sales turnover in the FY-14. However, it has good operational activity and decent networth position
along with favourable gap between trade payable and receivables. Trade relations are reported as fair. Business is active. Payment
terms are slow but correct. The company can be considered for business dealings at usual trade
terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
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 |
Not Available |
|
Rating |
Not Available |
|
Rating Explanation |
Not Available |
|
Date |
Not Available |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2013.
INFORMATION PARTED BY
|
Name : |
Mr. Dharmendra |
|
Designation : |
Manager |
|
Contact No.: |
91-9898702117 |
|
Date : |
10.07.2015 |
LOCATIONS
|
Registered Office : |
305 Kalash -1, B/H Navrangpura Post Office, Near Jain Temple,
Navrangpura, Ahmedabad – 380009, Gujarat, India |
|
Tel. No.: |
91-79-26420071 |
|
Mobile No.: |
91-9898702117 (Mr. Dharmendra) |
|
Fax No.: |
91-79-26421127 |
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E-Mail : |
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Website : |
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|
Location : |
Owned [Commercial] |
DIRECTORS
AS ON 30.09.2014
|
Name : |
Jayantilal Kalidas Patel |
|
Designation : |
Chairman cum Managing Director |
|
Address : |
1, Hasubhai Park Co Operative Housing Society, Near Gulab Towers, Thaltej, Ahmedabad - 380054, Gujarat, India |
|
Date of Birth/Age : |
01.06.1956 |
|
Date of Appointment : |
03.07.1996 |
|
DIN No.: |
00766777 |
|
|
|
|
Name : |
Savitaben Jayantilal Patel |
|
Designation : |
Director |
|
Address : |
1, Hasubhai Park Co Operative Housing Society, Near Gulab Towers, Thaltej, Ahmedabad - 380054, Gujarat, India |
|
Date of Birth/Age : |
04.04.1962 |
|
Date of Appointment : |
26.07.2013 |
|
DIN No.: |
00766763 |
|
|
|
|
Name : |
Binita Rajendra Patel |
|
Designation : |
Director |
|
Address : |
1, Hasubhai Park Co Operative Housing Society, Near Gulab Towers, Thaltej, Ahmedabad - 380054, Gujarat, India |
|
Date of Birth/Age : |
29.09.1980 |
|
Date of Appointment : |
01.06.2011 |
|
DIN No.: |
02085435 |
KEY EXECUTIVES
|
Name : |
Mr. Dharmendra |
|
Designation : |
Manager |
|
|
|
|
Name : |
Tapan Shah |
|
Designation : |
Company Secretaries |
|
Address : |
816-818, Anand Mangal -3, Opposite Core House, Near Doctor House, Ellis
bridge, Ahmedabad – 380006, Gujarat, India |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2014
|
Names of Shareholders |
No. of Shares |
%age
holding |
|
Jayantilal Kalidas Patel |
40,000 |
40.00 |
|
Savitaben Jayantilal Patel |
40,000 |
40.00 |
|
Rajendra J. Patel |
20,000 |
20.00 |
|
Total |
100,000 |
100.00 |
AS ON 30.09.2014
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Trader of Commission agent cotton. |
|
|
|
|
Products / Services: |
Cotton |
|
|
|
|
Brand Names : |
Not Divulged |
|
|
|
|
Agencies Held : |
Not Divulged |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
|
|
Selling : |
Cash and Credit (60 days / 90 days) |
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|
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Purchasing : |
Cash and Credit (60 days / 90 days) |
PRODUCTION STATUS : NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
Retailers and End Users
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No. of Employees : |
5 (Approximately) |
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Bankers : |
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Facilities : |
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Auditors : |
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|
Name : |
Jigar Patel and Associates Chartered Accountants |
|
Address : |
29/A, Yogeshwar Park Society, Behind Vejalpur Gam, Opposite Iswar Ami Krupa
Flat, Vejalpur, Ahmedabad – 380051, Gujarat, India |
|
PAN No.: |
AUWPP3694B |
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|
|
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Memberships : |
-- |
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Collaborators : |
-- |
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|
|
Associates: |
Highsight Capital Market Services Private Limited |
CAPITAL STRUCTURE
AS ON 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
100,000 |
Equity Shares |
Rs.10/- each |
Rs.1.000 Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
100,000 |
Equity Shares |
Rs.10/- each |
Rs.1.000 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 |
1.000 |
0.500 |
0.500 |
|
(b) Reserves &
Surplus |
45.883 |
43.993 |
33.632 |
|
(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) |
46.883 |
44.493 |
34.132 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
8.902 |
14.777 |
15.842 |
|
(b) Deferred tax liabilities
(Net) |
0.000 |
0.000 |
0.019 |
|
(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) |
8.902 |
14.777 |
15.861 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
0.448 |
21.998 |
26.186 |
|
(b) Trade payables |
0.185 |
0.728 |
30.935 |
|
(c) Other current
liabilities |
0.024 |
0.384 |
0.145 |
|
(d) Short-term provisions |
0.621 |
1.698 |
4.158 |
|
Total Current Liabilities
(4) |
1.278 |
24.808 |
61.424 |
|
|
|
|
|
|
TOTAL |
57.063 |
84.078 |
111.417 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
1.890 |
2.180 |
2.723 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
0.000 |
0.000 |
0.000 |
|
(iv) Intangible assets
under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
0.004 |
0.004 |
0.155 |
|
(e) Other Non-current
assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
1.894 |
2.184 |
2.878 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
19.200 |
9.900 |
29.700 |
|
(b) Inventories |
4.816 |
1.071 |
1.145 |
|
(c) Trade receivables |
29.435 |
69.219 |
74.277 |
|
(d) Cash and cash
equivalents |
0.170 |
0.404 |
1.238 |
|
(e) Short-term loans and
advances |
1.406 |
1.211 |
1.944 |
|
(f) Other current assets |
0.142 |
0.089 |
0.235 |
|
Total Current Assets |
55.169 |
81.894 |
108.539 |
|
|
|
|
|
|
TOTAL |
57.063 |
84.078 |
111.417 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Income |
320.545 |
353.516 |
545.993 |
|
|
Other Income |
4.807 |
13.158 |
8.571 |
|
|
TOTAL |
325.352 |
366.674 |
554.564 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Operating Expenses |
0.845 |
0.952 |
0.137 |
|
|
Bed Debts |
5.300 |
0.000 |
0.000 |
|
|
Selling and Other
Expenses |
0.794 |
0.448 |
1.137 |
|
|
Purchases of
Stock-in-Trade |
312.990 |
343.691 |
528.424 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(3.745) |
0.073 |
0.513 |
|
|
Employees benefits
expense |
1.511 |
1.747 |
1.590 |
|
|
Other expenses |
1.270 |
0.796 |
0.576 |
|
|
TOTAL |
318.965 |
347.707 |
532.377 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION |
6.387 |
18.967 |
22.187 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
3.007 |
5.458 |
1.686 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION |
3.380 |
13.509 |
20.501 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
0.418 |
0.544 |
0.538 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
2.962 |
12.965 |
19.963 |
|
|
|
|
|
|
|
Less |
TAX |
0.571 |
2.605 |
4.008 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX |
2.391 |
10.360 |
15.955 |
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’ BALANCE
BROUGHT FORWARD |
43.992 |
33.632 |
17.677 |
|
|
|
|
|
|
|
|
Reserve used for issue of
shares capital (Bonus shares) |
0.500 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
BALANCE CARRIED TO THE
B/S |
45.883 |
43.992 |
33.632 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (Rs.) |
|
|
|
|
Basic |
47.81 |
207.21 |
319.11 |
|
|
Diluted |
23.91 |
207.21 |
319.11 |
|
Particulars |
|
|
31.03.2015 |
|
Sales Turnover (Approximately) |
|
|
400.000 |
|
|
|
|
|
Expected Sales ( 2015-2016 ) : Rs.450.000 Million
The above information has been parted by Mr. Dharmendra.
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 |
35.039 |
(20.094) |
NA |
|
Net cash flow from (used in) operations |
NA |
NA |
NA |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
0.75 |
2.93 |
2.92 |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
1.99 |
5.37 |
4.06 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
5.19 |
15.42 |
17.92 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.06 |
0.29 |
0.58 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.20 |
0.83 |
1.23 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
43.17 |
3.30 |
1.77 |
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 |
0.500 |
0.500 |
1.000 |
|
Reserves & Surplus |
33.632 |
43.993 |
45.883 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net worth |
34.132 |
44.493 |
46.883 |
|
|
|
|
|
|
long-term borrowings |
15.842 |
14.777 |
8.902 |
|
Short term borrowings |
26.186 |
21.998 |
0.448 |
|
Total borrowings |
42.028 |
36.775 |
9.350 |
|
Debt/Equity ratio |
1.231 |
0.827 |
0.199 |
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 |
545.993 |
353.516 |
320.545 |
|
|
|
(35.253) |
(9.327) |
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 |
545.993 |
353.516 |
320.545 |
|
Profit |
15.955 |
10.360 |
2.391 |
|
|
2.92% |
2.93% |
0.75% |
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 |
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 from related parties |
8.902 |
14.777 |
|
|
|
|
|
Total |
8.902 |
14.777 |
OPERATION
The company’s turnover has been decreased by almost 11.27%, due to higher cotton price. The total income stood at Rs. 325.351 Million as compared to last year’s income of Rs. 366.674 Million. Due to Bad debts provisions of Rs.5.300 Million, the net profit of the company is decreased to Rs.2.391 Million in current financial year as compared to previous year’s Net profit of Rs. 10.360 Million.
FUTURE PROSPECTS
The Directors expect good cotton season, mainly due to BT. Cotton crop, good rainfall and also very good export market. Overall, the promoters of the Company are confident of achieving higher turnover, as compared to last year, which will results in to good profitability, too, as the prices of the cotton are stabilized.
FINANCE
The Company is enjoying Loan of Rs. 25.000 Million by way of cash credit facility from the State Bank of Patiala, to meet the working capital requirement
INDEX OF CHARGES : NO
CHARGES EXIST FOR COMPANY
FIXED ASSETS
- Land for Godown
- Godown
- Plant and Machinery
- Furniture and Fixture
- Vehicle
- Cycle
- Motor car
- Two Wheelers
- Computer
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.69.73 |
INFORMATION DETAILS
|
Information
Gathered by : |
MNJ |
|
|
|
|
Analysis Done by
: |
TRS |
|
|
|
|
Report Prepared
by : |
SNT |
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 |
3 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--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 |
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.