MIRA INFORM REPORT
|
Report No. : |
334111 |
|
Report Date : |
29.07.2015 |
IDENTIFICATION DETAILS
|
Name : |
HYUNDAI ENGINEERING PLASTICS INDIA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
No. 137A, Vayalur Village, Thiruvallur-602105, Tamilnadu |
|
Tel. No.: |
91-44-27692253 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
24.01.2007 |
|
|
|
|
Com. Reg. No.: |
18-062145 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.176.676 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U29113TN2007PTC062145 |
|
|
|
|
IEC No.: |
Not Available |
|
|
|
|
TAN No.: [Tax Deduction & Collection
Account No.] |
CHEH04059G |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCH8073Q |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
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|
|
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Line of Business
: |
Manufacturer and importer of polypropylene compound. |
|
|
|
|
No. of Employees
: |
100 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (30) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
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Comments : |
Subject is a subsidiary of Hyundai Engineering Plastics Company Limited, Korea. It is an established company having moderate track. Company has incurred continuous losses from its operations which has eroded the net worth of the company. However company receives managerial and technical support from its holding company. Further it has achieved acceptable sales turnover in FY14. However, trade relations are fair. Business is active. Payment terms are reported to be slow but correct. The company can be considered for business dealings with great caution. |
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. Sivakumar |
|
Designation : |
Accounts Manager |
|
Contact No.: |
91-44-27692348 |
|
Date : |
29.07.2015 |
LOCATIONS
|
Registered Office / Factory : |
No. 137A, Vayalur Village, Thiruvallur – 602105, Tamilnadu, India |
|
Tel. No.: |
91-44-27692253 |
|
Fax No.: |
91-44-27692348 |
|
E-Mail : |
|
|
Website : |
DIRECTORS
AS ON 31.03.2015
|
Name : |
Han Sang Hoe |
|
Designation : |
Director |
|
Address : |
Apt No G402 Grayshott 4 Bishop Garden Extension, (Off
Greenways Road) R A Puram, Chennai - 600028, Tamilnadu, India |
|
Date of Birth/Age : |
10.12.1959 |
|
Date of Appointment : |
24.01.2007 |
|
DIN No.: |
01786819 |
|
|
|
|
Name : |
Kunwon Lee |
|
Designation : |
Director |
|
Address : |
Yeock Sam Dong Gae Na Ri Apt, 34-806 Kangnam Gu, Seoul,
135795, Korea, Republic Of |
|
Date of Birth/Age : |
26.08.1945 |
|
Date of Appointment : |
24.01.2007 |
|
DIN No.: |
01821967 |
|
|
|
|
Name : |
Lee Hu Chul |
|
Designation : |
Alternate director |
|
Address : |
T4 Navins Rajendra Gardens, No.146 Royapettah High Road,
Royapettah, Chennai - 600014, Tamilnadu, India |
|
Date of Birth/Age : |
06.04.1981 |
|
Date of Appointment : |
28.12.2011 |
|
DIN No.: |
05172342 |
|
|
|
|
Name : |
Dong Soo Park |
|
Designation : |
Additional director |
|
Address : |
B2 Villa Bali Plot No.35/3, Poothapedu Main Road Porur,
Chennai, 600116, Tamilnadu, India |
|
Date of Appointment : |
23.01.2015 |
|
DIN No.: |
07097736 |
|
|
|
|
Name : |
Mr. Changgyun Kang |
|
Designation : |
Additional director |
|
Address : |
Daea Apt. 110-101, 532 Gangseo Ro Gangseo Gu, Seoul
Metropolitan, 157753, Korea, Republic Of |
|
Date of Appointment : |
23.01.2015 |
|
DIN No.: |
07099089 |
|
Name : |
Chang Ho Lee |
|
Designation : |
Additional director |
|
Address : |
New No.16, Old No. 13, Flat No.1, First Floor, 6th Cross
Street, Shastri Nagar, Adyar, Chennai - 600020, Tamilnadu, India |
|
Date of Appointment : |
02.06.2015 |
|
DIN No.: |
07200393 |
KEY EXECUTIVES
|
Name : |
Mr. Sivakumar |
|
Designation : |
Accounts Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2014
|
Names of Shareholders |
|
No. of Shares |
|
Hyundai Engineering Plastics Company Limited, Korea |
|
17667603 |
|
Sang Hoe Han |
|
10 |
|
Total |
|
17667613 |
Equity Share Break up (Percentage of Total Equity)
AS ON 30.09.2014
|
Category |
Percentage |
|
Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s), Non-resident
Indian(s) or Overseas Corporate bodies or Others |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and importer of polypropylene compound. |
|
|
|
|
Products : |
Polypropylene compound |
|
|
|
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Brand Names : |
Not Available |
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|
|
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Agencies Held : |
Not Available |
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|
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Exports : |
Not Divulged |
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Imports : |
|
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Products : |
Raw Material |
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Countries : |
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|
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Terms : |
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Selling : |
L/C, Cash and Credit |
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|
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Purchasing : |
L/C, Cash and Credit |
PRODUCTION STATUS: NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
Wholesalers, Retailers and End users
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No. of Employees : |
100 (Approximately) |
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Bankers : |
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Facilities : |
(Rs.
In Million)
|
|
Auditors : |
|
|
Name : |
BSRR and Company Chartered Accountant |
|
Address : |
NO.10, Mahatma Gandhi Road, Nungambakkam, Chennai-600034, Tamilnadu, India |
|
PAN N Income-tax PAN of auditor or auditor's firm : |
AAKFB1884H |
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|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Holding company: |
Hyundai Engineering Plastics Company Limited, Korea |
|
|
|
|
Fellow Subsidiary
company: |
Guangdog Hyundai Sk Advanced Polymer Company Limited |
CAPITAL STRUCTURE
AS ON 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
18000000 |
Equity Shares |
Rs.10/- each |
Rs. 180.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
17667613 |
Equity Shares |
Rs.10/- each |
Rs. 176.676
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 |
176.676 |
176.676 |
176.676 |
|
(b) Reserves & Surplus |
(217.107) |
(29.679) |
12.174 |
|
(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) |
(40.431) |
146.997 |
188.850 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
62.504 |
71.505 |
74.749 |
|
(b) Deferred tax liabilities
(Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
3.040 |
2.118 |
1.284 |
|
Total
Non-current Liabilities (3) |
65.544 |
73.623 |
76.033 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
785.384 |
749.887 |
480.500 |
|
(b) Trade payables |
679.376 |
414.279 |
435.515 |
|
(c) Other current liabilities |
23.030 |
31.843 |
233.980 |
|
(d) Short-term provisions |
0.257 |
0.182 |
0.182 |
|
Total
Current Liabilities (4) |
1488.047 |
1196.191 |
1150.177 |
|
|
|
|
|
|
TOTAL |
1513.160 |
1416.811 |
1415.060 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
298.406 |
336.145 |
328.128 |
|
(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 |
0.005 |
0.005 |
0.005 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
1.017 |
|
(d) Long-term Loan and Advances |
41.799 |
42.605 |
32.279 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
340.210 |
378.755 |
361.429 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
331.130 |
261.008 |
287.263 |
|
(c) Trade receivables |
653.934 |
583.116 |
635.431 |
|
(d) Cash and cash equivalents |
18.088 |
55.022 |
18.090 |
|
(e) Short-term loans and
advances |
164.926 |
135.980 |
106.170 |
|
(f) Other current assets |
4.872 |
2.930 |
6.677 |
|
Total
Current Assets |
1172.950 |
1038.056 |
1053.631 |
|
|
|
|
|
|
TOTAL |
1513.160 |
1416.811 |
1415.060 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
|
|
|
|
|
TURNOVER |
3251.042 |
2856.885 |
2483.491 |
|
|
|
|
|
|
|
|
GROSS PROFIT |
NA |
405.021 |
325.768 |
|
|
|
|
|
|
|
|
OPERATING PROFIT |
NA |
91.389 |
82.450 |
|
|
|
|
|
|
|
|
EBIT |
12.431 |
31.256 |
38.085 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
(18.742) |
(40.835) |
(26.249) |
|
|
|
|
|
|
|
|
TAX |
0.000 |
1.017 |
5.359 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
(18.742) |
(41.852) |
(31.608) |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
(1.06) |
NA |
NA |
|
Particulars |
|
|
31.03.2015 |
|
Sales Turnover (Approximately) |
|
|
3200.000 |
The above information has been parted by Mr. Sivakumar
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current Maturities of Long term debt |
0.000 |
6.900 |
206.098 |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net cash flows from (used in) operations |
28.568 |
93.232 |
57.529 |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(1.24) |
(2.88) |
(1.86) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.46 |
-0.28 |
-0.14 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
-20.97 |
5.63 |
4.03 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.79 |
0.87 |
0.92 |
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 |
176.676 |
176.676 |
176.676 |
|
Reserves & Surplus |
12.174 |
(29.679) |
(217.107) |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
188.850 |
146.997 |
(40.431) |
|
|
|
|
|
|
long-term borrowings |
74.749 |
71.505 |
62.504 |
|
Short term borrowings |
480.500 |
749.887 |
785.384 |
|
Current maturities of
long-term debts |
206.098 |
6.900 |
0.000 |
|
Total
borrowings |
761.347 |
828.292 |
847.888 |
|
Debt/Equity
ratio |
4.031 |
5.635 |
-20.971 |
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) |
|
Turnover |
2483.491 |
2856.885 |
3251.042 |
|
|
|
15.035 |
13.797 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Turnover |
2483.491 |
2856.885 |
3251.042 |
|
Profit |
(31.608) |
(41.852) |
(18.742) |
|
|
(1.27%) |
(1.46%) |
(0.58%) |
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 |
No |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
Yes |
|
22 |
Conduct of the banking account |
-- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
Yes |
|
26 |
Turnover of firm for last four 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 |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
NOTE: The Registered Office
of the company has been shifted from # 4-6 TTK Road, 2nd Cross
Street, Bharthi Flats, 3rd Floor, T1 Alwarpet, Chennai - 600018,
Tamilnadu, India, to the present address w.e.f. 31.12.2007.
OPERATIONS:
The company has been successfully manufacturing polypropylene compound used for automotive during the year. The company is keen in continuing the same with better advancements in the forthcoming years. Though the company has incurred losses of Rs.187.400 Million during the year, the company is in the verge of expansion and is in the development process. The losses are incurred because of increased finance costs. The company will be in a colorful year during the next financial year.
OUTLOOK FOR THE
FUTURE:
The company foresees a major demand for the polypropylene compound as there is an upward boom in the automotive industry. The company with the existing trend is expecting a marginal increase in the sale in the forthcoming year.
UNSECURED LOAN
(Rs.
In Million)
|
Particulars |
As
on 31.03.2014 |
As
on 31.03.2013 |
|
LONG TERM
BORROWING |
|
|
|
Foreign currency term loans from banks |
62.504 |
56.555 |
|
Rupee term loans from banks |
0.000 |
14.950 |
|
SHORT TERM
BORROWING |
|
|
|
Rupee term loans from banks |
740.384 |
704.887 |
|
Total |
802.888 |
776.392 |
INDEX
OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
10455977 |
30/09/2013 |
50,000,000.00 |
SHINHAN BANK |
NO.8, THIRUMALAI MUDALI STREET, WALAJAPET, TAMIL N |
B87926564 |
|
2 |
10336486 |
25/01/2012 |
45,000,000.00 |
SHINHAN BANK |
NO.8, THIRUMALAI MUDALI STREET,, WALAJAPET, TAMIL |
B32525842 |
FIXED ASSETS
Tangible assets
- Land
- Buildings
- Plant and equipment
- Furniture and fixtures
- Vehicles
- Office equipment
- Computer equipments
- Other 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 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.64.03 |
|
UK Pound |
1 |
Rs.99.72 |
|
Euro |
1 |
Rs.70.88 |
INFORMATION DETAILS
|
Information
Gathered by : |
PRT |
|
|
|
|
Analysis Done by
: |
KIN |
|
|
|
|
Report Prepared
by : |
KVT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILITY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
|
30 |
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.