MIRA INFORM REPORT

 

 

Report No. :

324822

Report Date :

05.06.2015

 

IDENTIFICATION DETAILS

 

Name :

PARAM POLYMERS PRIVATE LIMITED

 

 

Registered Office :

40, Strand road, Kolkata – 70001, West Bengal

Tel. No.:

91-3322433396

 

 

Country :

India

 

 

Financials (as on) :

31.03.2014

 

 

Date of Incorporation :

26.11.2007

 

 

Com. Reg. No.:

21-120606

 

 

Capital Investment / Paid-up Capital :

Rs. 5.000 Million

 

 

CIN No.:

[Company Identification No.]

U25208WB2007PTC120606

 

 

IEC No.:

Not Available

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

Not Available

 

 

PAN No.:

[Permanent Account No.]

Not Available

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Manufacturing and selling of PVC, Cpvc Pipes, Pipe fittings, and Tanks

 

 

No. of Employees :

Information declined by the management 

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba (45)

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Maximum Credit Limit :

USD 200000

 

 

Status :

Satisfactory

 

 

Payment Behaviour :

Usually Correct

 

 

Litigation :

Clear

 

 

Comments :

Subject is an established company having satisfactory track record.

 

Rating takes into consideration company’s sound financial risk profile supported by above average net worth base and promoters decent industry experience.

 

 Trade relations are fair. Business is active. Payment terms are reported to be usually correct.

 

The company can be considered for business dealings at usual trade terms and condition.    

 

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 DENIED

 

MANAGEMENT NON CO-OPERATIVE (91-33-22433396)

                                  

 

LOCATIONS

 

Registered Office :

40, Strand road, Kolkata – 70001, West Bengal, India

Tel. No.:

91-33-2433396

Fax No.:

Not Available

E-Mail :

legal@oriplast.com

 

 

 

DIRECTORS

 

AS ON 30.09.2014

 

Name :

Mr. Madan Mohan Mallick

Designation :

Director

Address :

7, Ban Behari Bose Road, Howrah – 711101, West Bengal, India

Date of Birth/Age :

06.06.1947

Date of Appointment :

26.11.2007

DIN No.:

01773804

 

 

Name :

Mr. Ramesh Kumar Bajaj

Designation :

Director

Address :

4, Gopinath Chongder Lane, Howrah – 711101, West Bengal, India

Date of Birth/Age :

14.10.1959

Date of Appointment :

26.11.2007

DIN No.:

00428227

Other Directorship:

S.No.

CIN/LLPIN

Name of the Company/ LLP

Current designation of the Director/ Designated Partner

Date of appointment at current designation

Original date of appointment

Date of cessation

Company/ LLP Status

Defaulting status

1

U70101WB1998PTC087876

RJB CONSTRUCTIONS PRIVATE LIMITED

Director

04-09-1999

04-09-1999

-

Active

NO

2

U24231WB2002PTC095430

ADVENTEC POLYMERS PRIVATE LIMITED

Director

03-04-2006

03-04-2006

-

Active

NO

3

U25208WB2007PTC120606

PARAM POLYMERS PRIVATE LIMITED

Director

26-11-2007

26-11-2007

-

Active

NO

 

 

Name :

Mr. Ashish Agarwal

Designation :

Director

Address :

12, A/4, Judges Court Road, Kolkata – 700027, West Bengal, India

Date of Birth/Age :

20.05.1977

Date of Appointment :

01.12.2010

DIN No.:

00365451

Other Directorship:

S.No.

CIN/LLPIN

Name of the Company/ LLP

Current designation of the Director/ Designated Partner

Date of appointment at current designation

Original date of appointment

Date of cessation

Company/ LLP Status

Defaulting status

1

U24231WB2002PTC095430

ADVENTEC POLYMERS PRIVATE LIMITED

Director

26-11-2002

26-11-2002

-

Active

NO

2

U65999WB1996PTC081124

TRIBHUWAN CREDIT AND PROPERTIES PRIVATE LIMITED

Director

27-03-2006

27-03-2006

-

Active

NO

3

U19202WB1988PLC044642

ORI PLAST LIMITED

Director

30-03-2006

30-03-2006

-

Active

NO

4

U25208WB2007PTC120606

PARAM POLYMERS PRIVATE LIMITED

Additional director

01-12-2010

01-12-2010

-

Active

NO

5

U25209WB2008PTC121986

ACCURATE POLYMERS PRIVATE LIMITED

Director

28-02-2011

28-02-2011

-

Active

NO

 

 

Name :

Mr. Harshvardhan Agarwal

Designation :

Additional Director

Address :

12, A/4, Judges Court Road, Kolkata – 700027, West Bengal, India

Date of Birth/Age :

04.07.1982

Date of Appointment :

01.12.2010

DIN No.:

00364194

Other Directorship:

S.No.

CIN/LLPIN

Name of the Company/ LLP

Current designation of the Director/ Designated Partner

Date of appointment at current designation

Original date of appointment

Date of cessation

Company/ LLP Status

Defaulting status

1

U65999WB1996PTC081124

TRIBHUWAN CREDIT AND  PROPERTIES PRIVATE LIMITED

Director

28-08-2000

28-08-2000

-

Active

NO

2

U65999WB1996PTC081123

ALKARAJ PROPERTIES AND VINIYOG PRIVATE LIMITED

Director

28-08-2000

28-08-2000

-

Active

NO

3

U19202WB1988PLC044642

ORI PLAST LIMITED

Director

01-09-2008

01-09-2008

-

Active

NO

4

U25208WB2007PTC120606

PARAM POLYMERS PRIVATE LIMITED

Additional director

01-12-2010

01-12-2010

-

Active

NO

5

U24231WB2002PTC095430

ADVENTEC POLYMERS PRIVATE LIMITED

Additional director

01-12-2010

01-12-2010

-

Active

NO

6

U25209WB2008PTC121986

ACCURATE POLYMERS PRIVATE LIMITED

Director

28-02-2011

28-02-2011

-

Active

NO

7

U25209WB1992PTC055595

C A POLYCARE PRIVATE LIMITED

Director

01-11-2011

01-11-2011

-

Active

NO

8

U93000DL2012NPL238679

INDIAN PLUMBING SKILLS COUNCIL

Director

18-12-2013

22-12-2012

-

Active

NO

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

AS ON 30.09.2014

 

Names of Shareholders

No. of Shares

Anita Agarwal

311000

Madan Mohan Mallick

22000

Ramesh Kumar Bajaj

2000

Ashish Agarwal

30000

Kamal Kishore Agarwal

20000

Harshvardhan Agarwal

10000

Ram Agarwal Sawal (HUF)

5000

K. K. Agarwal (HUF)

50000

Bela Agarwal

50000

Total

500000

 

Equity Share Break up (Percentage of Total Equity)

 

AS ON 30.09.2014

 

Category

Percentage

Directors or relatives of Directors

100.00

Total

100.00

 

 

 

BUSINESS DETAILS

 

Line of Business :

Manufacturing and selling of PVC, Cpvc Pipes, Pipe fittings, and Tanks

 

 

Products :
  • PVC
  • Cpvc Pipes
  • Pipe fittings
  • Tanks etc.

 

 

Brand Names :

Not Available

 

 

Agencies Held :

Not Available

 

 

Exports :

Not Divulged

 

 

Imports :

Not Divulged

 

 

Terms :

Not Divulged

 

PRODUCTION STATUS: NOT AVAILABLE

 

 

GENERAL INFORMATION

 

Suppliers :

Reference :

Not Divulged

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Maximum Limit Dealt :

Not Divulged

Experience :

Not Divulged

Remark:

Not Divulged

 

 

Customers :

Reference :

Not Divulged

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Maximum Limit Dealt :

Not Divulged

Experience :

Not Divulged

Remark:

Not Divulged

 

 

No. of Employees :

Information declined by the management 

 

 

Bankers :

Banker Name

State Bank Of India

Branch Address

Sme Branch, Balasore, Industrial Estate, Balasore - 756001,

Orissa, India

Person Name (With Designation)

Not Divulged

Contact Number

Not Divulged

Name of Account Holder

Not Divulged

Account Number

Not Divulged

Account Since (Date/Year of Account Opening)

Not Divulged

Average Balance Maintained (If Possible)

Not Divulged

Credit Facilities Enjoyed (If any)

Not Divulged

Account Operation

Not Divulged

Remarks (If any)

Not Divulged

 

 

Facilities :

(Rs. In Million)

SECURED LOAN

As on

31.03.2014

As on

31.03.2013

LONG TERM BORROWING

 

 

Term Loans from Banks

0.000

3.325

 

 

 

SHORT TERM BORROWING

 

 

Term Loans from Banks

(Secured by way hypothecation of stock, Book, debts and other current assets of the company)

25.805

23.985

Total

25.805

27.310

 

Notes:

 

a)     Secured Loans are covered by:

The Loans, including current maturities from bank are secured by way of:

Hypothecation of the fixed assets of the company and mortgage of third party land, building and shed and corporate guarantee.

 

b)    Repayment Terms of outstanding long term borrowings (including current maturities) as on 31.03.2014:

The Scheduled maturity of the Long-term borrowings is summarized as under:

 

PARTICULARS

31.03.2014

(Rs. in Million)

31.03.2013

(Rs. in Million)

1)     TERM LOAN FROM BANK

 

 

Borrowing Payable

In the first year

2.818

4.500

Current maturities of long term debt

 

 

In the second year

0.000

3.325

 

 

 

2)     LOANS AND ADVANCES FROM RELATED PARTIES

 

 

Borrowing Payable

In the first year

0.000

5.000

Current maturities of long term debt

 

 

In the second year

4.000

8.000

In the Third Year

4.500

12.200

In the Fourth year

6.700

0.000

In the fifth year

10.000

0.000

Long term borrowings

25.200

20.200

 

c)     Period of Continuing Default

There is no continuing default in repayment of Long Term Borrowings. 

 

Auditors :

 

Name :

Surendra Yamuna and Associates,

Chartered Accountants

Address :

32, Ezra Street, R. No.852,  8th floor, Kolkata -700001, West Bengal, India

Tel. No.:

91-33-40052764 / 91-33-22353694

Mobile No.:

91-9830501763 / 9330033423

PAN N Income-tax PAN of auditor or auditor's firm :

AAVFS9204P

 

 

Memberships :

Not Available

 

 

Collaborators :

Not Available

 

 

Associates :
  • Oriplast  Limited
  • Adventure Polymers Private Limited
  • C A Polycare Private Limited

 

 

CAPITAL STRUCTURE

 

AS ON 30.09.2014

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

500000

Equity Shares

Rs.10/- each

Rs.5.000 Million

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

500000

Equity Shares

Rs.10/- each

Rs.5.000 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

5.000

5.000

5.000

(b) Reserves & Surplus

48.173

32.569

18.769

(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)

53.173

37.569

23.769

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

26.300

24.425

33.725

(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

0.000

0.000

0.000

Total Non-current Liabilities (3)

26.300

24.425

33.725

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

25.805

23.985

8.977

(b) Trade payables

7.593

0.741

5.328

(c) Other current liabilities

16.599

26.655

12.098

(d) Short-term provisions

0.000

0.254

2.872

Total Current Liabilities (4)

49.997

51.635

29.275

 

 

 

 

TOTAL

129.470

113.629

86.769

 

 

 

 

II.          ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

32.664

44.202

33.873

(ii) Intangible Assets

0.036

0.000

0.000

(iii) Capital work-in-progress

0.345

0.448

0.345

(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)

2.297

0.930

0.872

(d)  Long-term Loan and Advances

0.030

0.378

0.030

(e) Other Non-current assets

0.301

2.221

2.233

Total Non-Current Assets

35.673

48.179

37.353

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

60.624

40.313

32.149

(c) Trade receivables

0.776

0.973

0.579

(d) Cash and cash equivalents

20.930

19.816

13.049

(e) Short-term loans and advances

11.295

3.952

3.518

(f) Other current assets

0.172

0.396

0.121

Total Current Assets

93.797

65.450

49.416

 

 

 

 

TOTAL

129.470

113.629

86.769

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

31.03.2014

31.03.2013

31.03.2012

 

SALES

 

 

 

 

Income

NA 

NA 

NA 

 

Other Income

NA 

NA 

NA 

 

TOTAL (A)

NA 

NA 

NA 

 

 

 

 

 

Less

EXPENSES

NA 

NA 

NA 

 

 

 

 

 

 

PROFIT / (LOSS) BEFORE TAX, DEPRECIATION

35.566

31.056

28.381

 

 

 

 

 

Less

DEPRECIATION

12.312

10.562

9.038

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE TAX

23.254

20.494

19.343

 

 

 

 

 

Less

TAX

7.650

6.695

6.606

 

 

 

 

 

 

PROFIT/ (LOSS)  AFTER TAX 

15.604

13.799

12.737

 

IMPORTS

 

 

 

 

Raw Materials

64.905

25.873

16.427

 

TOTAL IMPORTS

64.905

25.873

16.427

 

 

 

 

 

Add

PREVIOUS YEARS’ BALANCE BROUGHT FORWARD 

32.569

18.770

6.032

 

 

 

 

 

 

Balance Carried to the B/S

48.173

32.569

18.769

 

 

 

 

 

 

Earnings / (Loss) Per Share (Rs.)

31.21

27.60

25.47

 

 

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

 

Particulars

 

31.03.2014

31.03.2013

31.03.2012

Current Maturities of Long term debt

2.819

9.500

4.200

Cash generated from operations

NA

NA

NA

 

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2014

31.03.2013

31.03.2012

Return on Total Assets

(PBT/Total Assets}

(%)

18.34

18.26

22.61

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

0.44

0.55

0.81

 

 

 

 

 

Debt Equity Ratio

(Total Debt /Networth)

 

1.03

1.54

1.97

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

1.88

1.27

1.69

 

 

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

5.000

5.000

5.000

Reserves & Surplus

18.769

32.569

48.173

Net worth

23.769

37.569

53.173

 

 

 

 

long-term borrowings

33.725

24.425

26.300

Short term borrowings

8.977

23.985

25.805

Current maturities of long-term debts

4.200

9.500

2.819

Total borrowings

46.902

57.910

54.924

Debt/Equity ratio

1.973

1.541

1.033

 

 

 

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

No

8

Designation of contact person

No

9

Promoter’s background

Yes

10

Date of Birth of Proprietor / Partners / Directors

Yes

11

Pan Card No. of Proprietor / Partners

No

12

Voter Id Card No. of Proprietor / Partners

No

13

Type of business

Yes

14

Line of Business

Yes

15

Export/import details (if applicable)

No

16

No. of employees

No

17

Details of sister concerns

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 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

No

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 BORROWING

 

 

Deposits (from Agents and Dealers)

1.100

0.900

Loans and Advances from related parties

25.200

20.200

Total

26.300

21.100

 

INDEX OF CHARGES

 

S.NO.

CHARGE ID

DATE OF CHARGE CREATION/MODIFICATION

CHARGE AMOUNT SECURED

CHARGE HOLDER

ADDRESS

SERVICE REQUEST NUMBER (SRN)

1

10175060

08/03/2013 *

66,575,000.00

STATE BANK OF INDIA

SME BRANCH, BALASORE, INDUSTRIAL ESTATE, BALASORE  , ORISSA - 756001, INDIA

B72882558

 

* Date of charge modification

 

 

CONTINGENT LIABILITIES:

 

(Rs. in million)

PARTICULARS

31.03.2014

18.03.2013

a)Letter of credit has been issued

4.534

6.987

b) Against purchase of raw material in favor of mitsaul and company limited

6.987

9.875

c)Counter guarantee given to bank

2.956

2.544

 

 

FIXED ASSETS

 

 

 

 

 

CMT REPORT (Corruption, Money Laundering & Terrorism]

 

The Public Notice information has been collected from various sources including but not limited to: The Courts, India Prisons Service, Interpol, etc.

 

1]         INFORMATION ON DESIGNATED PARTY

No exist designating subject or any of its beneficial owners, controlling shareholders or senior officers as terrorist or terrorist organization or whom notice had been received that all financial transactions involving their assets have been blocked or convicted, found guilty or against whom a judgement or order had been entered in a proceedings for violating money-laundering, anti-corruption or bribery or international economic or anti-terrorism sanction laws or whose assets were seized, blocked, frozen or ordered forfeited for violation of money laundering or international anti-terrorism laws.

 

2]         Court Declaration :

No exist to suggest that subject is or was the subject of any formal or informal allegations, prosecutions or other official proceeding for making any prohibited payments or other improper payments to government officials for engaging in prohibited transactions or with designated parties.

 

3]         Asset Declaration :

No records exist to suggest that the property or assets of the subject are derived from criminal conduct or a prohibited transaction.

 

4]         Record on Financial Crime :

            Charges or conviction registered against subject:                                                           None

 

5]         Records on Violation of Anti-Corruption Laws :

            Charges or investigation registered against subject:                                                        None

 

6]         Records on Int’l Anti-Money Laundering Laws/Standards :

            Charges or investigation registered against subject:                                                        None

 

7]         Criminal Records

No available information exist that suggest that subject or any of its principals have been formally charged or convicted by a competent governmental authority for any financial crime or under any formal investigation by a competent government authority for any violation of anti-corruption laws or international anti-money laundering laws or standard.

 

8]         Affiliation with Government :

No record exists to suggest that any director or indirect owners, controlling shareholders, director, officer or employee of the company is a government official or a family member or close business associate of a Government official.

 

9]         Compensation Package :

Our market survey revealed that the amount of compensation sought by the subject is fair and reasonable and comparable to compensation paid to others for similar services.

 

10]        Press Report :

            No press reports / filings exists on the subject.

 

CORPORATE GOVERNANCE

 

MIRA INFORM as part of its Due Diligence do provide comments on Corporate Governance to identify management and governance. These factors often have been predictive and in some cases have created vulnerabilities to credit deterioration.

 

Our Governance Assessment focuses principally on the interactions between a company’s management, its Board of Directors, Shareholders and other financial stakeholders.

 

 

CONTRAVENTION

 

Subject is not known to have contravened any existing local laws, regulations or policies that prohibit, restrict or otherwise affect the terms and conditions that could be included in the agreement with the subject.

 

 

FOREIGN EXCHANGE RATES

 

Currency

 
Unit

Indian Rupees

US Dollar

1

Rs.64.18

UK Pound

1

Rs.98.30

Euro

1

Rs.72.25

 

 

INFORMATION DETAILS

 

Information Gathered by :

PRT

 

 

Analysis Done by :

KAR

 

 

Report Prepared by :

GTA

 

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

5

PAID-UP CAPITAL

1~10

5

OPERATING SCALE

1~10

5

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

5

--PROFITABILITY

1~10

5

--LIQUIDITY

1~10

5

--LEVERAGE

1~10

5

--RESERVES

1~10

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

 

45

 

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

 

--

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.