MIRA INFORM REPORT
|
Report No. : |
333524 |
|
Report Date : |
25.07.2015 |
IDENTIFICATION DETAILS
|
Name : |
NUCON SWITCHGEARS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
D – 47 Phase, Vfocal Point, Ludhiana – 141010, Punjab |
|
Tel. No.: |
91-1612671356 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
05.09.1986 |
|
|
|
|
Com. Reg. No.: |
16-006999 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 8.602 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U31102PB1986PTC006999 |
|
|
|
|
IEC No.: |
3095002742 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACN6127E |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Transformers |
|
|
|
|
No. of Employees
: |
100 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (52) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 2000000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
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|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company incorporated during the year 1986.
It has fine track record. As per available financials of the year 2014, it is seen that profits
of the current year has declined from previous year. However, it has resulted
healthy operational performance and maintained decent sales turnover along
with profitability margin of 2.8%. The company possesses healthy financial risk profile marked by its decent
net worth position along with good gap between trade payables and
receivables. Further, the company has long terms business track record and good
leverage position. Trade relations are reported as fair. Business is active. Payments
terms are reported as regular. In view of long terms business track record, 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 |
CRISIL |
|
Rating |
Long Term Bank
Loan Facilities = A- |
|
Rating Explanation |
Adequate degree
of safety and low credit risk. |
|
Date |
09.06.2015 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short Term Bank
Loan Facilities = A2+ |
|
Rating Explanation |
Strong degree of
safety and low credit risk. |
|
Date |
09.06.2015 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2013.
INFORMATION PARTED BY (GENERAL DETAILS)
|
Name : |
Mr. Tarun Kumar |
|
Designation : |
Director |
|
Contact No.: |
91-9872350001 |
|
Date : |
24.07.2015 |
LOCATIONS
|
Registered Office/ Factory
1 : |
D – 47 Phase, Vfocal Point, Ludhiana – 141010, Punjab, India |
|
Tel. No.: |
91-1612671356 |
|
Mobile No.: |
91-9872350001 (Mr. Tarun) |
|
Fax No.: |
91-1628-660230 |
|
E-Mail : |
|
|
Location : |
Owned |
|
Locality : |
Industrial |
|
|
|
|
Factory 2: |
Village Malipur, 14 K. M. Khanna Mile Stone, G.T Road, Doraha, Malipur
– 142121, Ludhiana, Punjab, India |
|
Tel. No.: |
91-161-660200 |
DIRECTORS
AS ON 30.09.2014
|
Name : |
Mr. Harminder Paul |
|
Designation : |
Director |
|
Address : |
20-I, Sarabha Nagar, |
|
Date of Birth/Age : |
16.09.1952 |
|
Date of Appointment : |
01.06.2006 |
|
DIN No.: |
00600469 |
|
PAN No.: |
ACTPP3911E |
|
|
|
|
Name : |
Mr. Tarun Kumar |
|
Designation : |
Director |
|
Address : |
20-I, Sarabha Nagar, |
|
Date of Birth/Age : |
22.01.1978 |
|
Date of Appointment : |
07.08.2003 |
|
DIN No.: |
0600542 |
|
PAN No.: |
ABMPK1958L |
|
|
|
|
Name : |
Mr. Munish Kumar |
|
Designation : |
Director |
|
Address : |
20-I, Sarabha Nagar, |
|
Date of Birth/Age : |
18.02.1981 |
|
Date of Appointment: |
15.02.2006 |
|
DIN No.: |
00600709 |
|
PAN No.: |
ALIPK6808P |
|
|
|
|
Name : |
Mrs. Veena Rani |
|
Designation : |
Director |
|
Address : |
20-I, Sarabha Nagar, Ludhiana-141 010, |
|
Date of Birth/Age : |
23.10.1953 |
|
Date of Appointment : |
07.08.2003 |
|
DIN No.: |
01034885 |
|
PAN No.: |
AATPR1139G |
MAJOR SHAREHOLDERS
AS ON 30.09.2014
Note: (SHAREHOLDERS DETAILS FILE ATTACHED)
Equity Share Break up (Percentage of Total Equity)
AS ON 30.09.2014
|
Category |
Percentage |
|
Directors or relatives of Directors |
99.99 |
|
Other top fifty shareholders |
0.01 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Transformers |
|
|
|
|
Products : |
|
|
|
|
|
Brand Names : |
Not Available |
|
|
|
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Agencies Held : |
Not Available |
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|
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Exports : |
Not Divulged |
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|
|
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Imports : |
|
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Products : |
Raw Material |
|
Countries : |
China |
|
|
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Terms : |
|
|
Selling : |
Cash and Credit (30, 60, 90 Days) |
|
|
|
|
Purchasing : |
Cash and Credit (30, 60, 90 Days) |
PRODUCTION STATUS: NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
End Users and OEMs
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No. of Employees : |
100 (Approximately) |
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Bankers : |
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||||||||||||||||||||||
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Facilities : |
(Rs.
In Million)
|
|
Auditors : |
|
|
Name : |
Dass Khanna and Company Chartered Accountant |
|
Address : |
B-Xx-2815 , Gurdev Nagar , Pakhowal Road Ludhiana, Punjab, India |
|
Tel. No.: |
91-161-2403029 / 2401230 |
|
Fax No.: |
91-161-2409672 |
|
PAN N Income-tax PAN of auditor or auditor's firm : |
AADFD5151G |
|
|
|
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Memberships : |
Not Available |
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|
|
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Collaborators : |
Not Available |
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|
Enterprises Which
Are Owned, Or Have
Significant Influence Of Or Are
Partners With Key Management Personnel And Their Relatives: |
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|
|
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|
Subsidiary Company: |
|
CAPITAL STRUCTURE
AS ON 30.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1000000 |
Equity Shares |
Rs.10/- each |
Rs.10.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
860200 |
Equity Shares |
Rs.10/- each |
Rs.8.602
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 |
8.602 |
8.602 |
8.602 |
|
(b) Reserves &
Surplus |
665.567 |
570.785 |
454.874 |
|
(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) |
674.169 |
579.387 |
463.476 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
80.000 |
67.306 |
79.538 |
|
(b) Deferred tax
liabilities (Net) |
9.443 |
9.441 |
8.766 |
|
(c) Other long term
liabilities |
1.423 |
0.959 |
0.506 |
|
(d) long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
90.866 |
77.706 |
88.810 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
171.631 |
139.265 |
218.900 |
|
(b) Trade payables |
598.753 |
640.436 |
529.540 |
|
(c) Other current
liabilities |
231.102 |
187.194 |
168.149 |
|
(d) Short-term provisions |
17.834 |
13.305 |
8.115 |
|
Total Current Liabilities
(4) |
1019.320 |
980.200 |
924.704 |
|
|
|
|
|
|
TOTAL |
1784.355 |
1637.293 |
1476.990 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
187.273 |
178.817 |
98.009 |
|
(ii) Intangible Assets |
0.001 |
0.003 |
0.004 |
|
(iii) Capital
work-in-progress |
1.098 |
0.000 |
0.000 |
|
(iv) Intangible assets
under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
15.250 |
15.250 |
25.250 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
2.988 |
8.043 |
6.006 |
|
(e) Other Non-current
assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
206.610 |
202.113 |
129.269 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
166.684 |
168.475 |
135.923 |
|
(b) Inventories |
295.914 |
363.324 |
485.260 |
|
(c) Trade receivables |
998.090 |
763.197 |
655.516 |
|
(d) Cash and cash
equivalents |
21.555 |
6.927 |
19.777 |
|
(e) Short-term loans and
advances |
75.239 |
93.987 |
45.014 |
|
(f) Other current assets |
20.263 |
39.270 |
6.231 |
|
Total Current Assets |
1577.745 |
1435.180 |
1347.721 |
|
|
|
|
|
|
TOTAL |
1784.355 |
1637.293 |
1476.990 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
|
|
|
|
|
TOTAL INCOME |
3270.491 |
3270.465 |
2385.500 |
|
|
|
|
|
|
|
Less |
TOTAL EXPENSES |
3111.253 |
3094.399 |
2232.597 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION |
159.238 |
176.066 |
152.903 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
7.843 |
7.288 |
5.506 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
151.395 |
168.778 |
147.397 |
|
|
|
|
|
|
|
Less |
TAX |
56.613 |
52.867 |
45.988 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX |
94.782 |
115.911 |
101.409 |
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’ BALANCE
BROUGHT FORWARD (K) |
281.446 |
215.535 |
164.126 |
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
Transfer to General
Reserve |
50.000 |
50.000 |
50.000 |
|
|
Total (M) |
50.000 |
50.000 |
50.000 |
|
|
|
|
|
|
|
|
Balance Carried to the
B/S (J+K+L-M) |
326.228 |
281.446 |
215.535 |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
926.624 |
734.500 |
NA |
|
|
TOTAL EARNINGS |
926.624 |
734.500 |
NA |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
642.360 |
283.500 |
NA |
|
|
TOTAL IMPORTS |
642.360 |
283.500 |
NA |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (Rs.) |
110.19 |
137.75 |
117.89 |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current Maturities of Long term debt |
1.377 |
2.731 |
2.037 |
|
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) |
(%) |
2.90 |
3.54 |
4.25 |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
4.87 |
5.38 |
6.41 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
8.56 |
10.41 |
10.15 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.22 |
0.29 |
0.32 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.38 |
0.36 |
0.65 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.55 |
1.46 |
1.46 |
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 |
8.602 |
8.602 |
8.602 |
|
Reserves & Surplus |
454.874 |
570.785 |
665.567 |
|
Net worth |
463.476 |
579.387 |
674.169 |
|
|
|
|
|
|
long-term borrowings |
79.538 |
67.306 |
80.000 |
|
Short term borrowings |
218.900 |
139.265 |
171.631 |
|
Current maturities of
long-term debts |
2.037 |
2.731 |
1.377 |
|
Total borrowings |
300.475 |
209.302 |
253.008 |
|
Debt/Equity ratio |
0.648 |
0.361 |
0.375 |
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 |
2385.500 |
3270.465 |
3270.491 |
|
|
|
37.098 |
0.001 |
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 |
2385.500 |
3270.465 |
3270.491 |
|
Profit |
101.409 |
115.911 |
94.782 |
|
|
4.25% |
3.54% |
2.90% |
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 |
Yes |
|
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 |
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 |
UNSECURED LOAN
(Rs.
In Million)
|
Particulars |
As
on 31.03.2014 |
As
on 31.03.2013 |
|
LONG TERM
BORROWING |
|
|
|
Other Loans And Advances |
79.425 |
63.375 |
|
Total |
79.425 |
63.375 |
INDEX
OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
90344846 |
12/03/2013 * |
1,106,000,000.00 |
STATE BANK OF INDIA |
INDUSTRIAL FINANCE BRANCH,, GOLDEN TOWER, DHOLEWAL CHOWK, LUDHIANA, PUNJAB - 141003, INDIA |
B71633267 |
|
2 |
80031563 |
23/03/2011 * |
500,400,000.00 |
STATE BANK OF INDIA |
SCB, PAHWA HOSPITAL COMPLEX, MILLER GANJ, LUDHIANA, PUNJAB - 141003, INDIA |
B10511947 |
* Date of charge modification
FIXED ASSETS
Tangible assets
- Land
- Buildings
- Plant and equipment
- Factory equipments
- Furniture and fixtures
- Vehicles
- Office equipment
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 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.63.89 |
|
UK Pound |
1 |
Rs.99.10 |
|
Euro |
1 |
Rs.70.12 |
INFORMATION DETAILS
|
Information
Gathered by : |
PPT |
|
|
|
|
Analysis Done by
: |
TRI |
|
|
|
|
Report Prepared
by : |
GTA |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILITY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
52 |
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.