MIRA INFORM REPORT
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Report No. : |
327205 |
|
Report Date : |
15.06.2015 |
IDENTIFICATION DETAILS
|
Name : |
AKSHARA INDUSTRIES LIMITED |
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|
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Registered Office : |
183/1, Sydenhams Road, 2nd Floor, Apparao Garden, Choolai,
Chennai –600112, Tamilnadu |
|
Tel. No.: |
91-44-26693316/26693317/26693318 |
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Country : |
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Financials (as on) : |
31.03.2014 |
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Date of Incorporation : |
07.04.2004 |
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Com. Reg. No.: |
18-052914 |
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Capital
Investment / Paid-up Capital : |
Rs. 64.996 Million |
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CIN No.: [Company
Identification No.] |
U27102TN2004PLC052914 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
CHEA08925A |
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PAN No.: [Permanent Account No.] |
AAECA8202H |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business : |
Manufacturer of Sponge Iron. |
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No. of Employees : |
50 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (44) |
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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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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. Profits of the company has continuously declined from past few years
however, networth of the company is satisfactory. General financial position
of the company is good. Trade relations are reported as fair. Business is active. Payment
terms are reported to be usually correct and as per commitment. The company can be considered normal 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 |
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High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
|
Off-credit |
D |
EXTERNAL
AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long term rating = BBB- |
|
Rating Explanation |
Moderate degree of safety and carry moderate credit risk. |
|
Date |
26.02.2015 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short term rating = A3 |
|
Rating Explanation |
Moderate degree of safety and carry higher credit risk. |
|
Date |
26.02.2015 |
RBI DEFAILTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAILTERS’ 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 (PARTIAL DETAILS)
|
Name : |
Mr. Sushil |
|
Designation : |
Key Executive |
|
Contact No.: |
91-44-26693316 |
|
Date : |
13.06.2015 |
LOCATIONS
|
Registered Office : |
183/1, Sydenhams Road, 2nd Floor, Apparao Garden, Choolai,
Chennai –600112, Tamilnadu, India |
|
Tel. No.: |
91-44-26693316/26693317/26693318 |
|
Fax No.: |
91-44-26691730 |
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E-Mail : |
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Factory : |
No.9, Eguvarpalayam Village Gummidipondi Taluk, Thiruvallur-601212,
Tamilnadu, India |
|
Tel. No.: |
91-44-27900431 |
DIRECTORS
AS ON 30.09.2014
|
Name : |
Mr. Aditya Tibrewala |
|
Designation : |
Director |
|
Address : |
Guru Kripa 1 (11 And 12), 3rd Floor, Tas Enclave, Sushila Chellaiya Road,10th Main Road, Extension Anna Nagar, Chennai - 600040, Tamilnadu, India |
|
Date of Birth/Age : |
13.01.1971 |
|
Date of Appointment : |
07.04.2004 |
|
DIN No.: |
00364538 |
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|
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|
Name : |
Mr. Rajkumar Tibrewala |
|
Designation : |
Managing director |
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Address : |
Guru Kripa 1 (11 And 12), 3rd Floor, Tas Enclave, Sushila Chellaiya Road,10th Main Road, Extension Anna Nagar, Chennai - 600040, Tamilnadu, India |
|
Date of Birth/Age : |
13.07.1946 |
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Date of Appointment : |
01.09.2014 |
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DIN No.: |
00365531 |
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|
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|
Name : |
Mr. Vivek Tibrewala |
|
Designation : |
Whole-time director |
|
Address : |
Guru Kripa 1 (11 And 12), 3rd Floor, Tas Enclave, Sushila Chellaiya Road,10th Main Road, Extension Anna Nagar, Chennai - 600040, Tamilnadu, India |
|
Date of Birth/Age : |
26.02.1975 |
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Date of Appointment : |
01.09.2014 |
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DIN No.: |
00365565 |
|
Name : |
Mr. Anurag Tibrewal |
|
Designation : |
Director |
|
Address : |
Guru Kripa 1 (11 And 12), 3rd Floor, Tas Enclave, Sushila Chellaiya Road,10th Main Road, Extension Anna Nagar, Chennai - 600040, Tamilnadu, India |
|
Date of Birth/Age : |
22.11.1973 |
|
Date of Appointment : |
07.04.2004 |
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DIN No.: |
01810212 |
KEY EXECUTIVE
|
Name : |
Mr. Sushil |
|
Designation : |
Key Executive |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2014
|
Names of
Shareholders |
No. of Shares |
|
Rajkmar Tibrewala |
239200 |
|
Aditya Tibrewala |
267300 |
|
Anurag Tibrewala |
218500 |
|
Vivek Tibrewala |
191500 |
|
Sonal Tibrewala |
24500 |
|
Sweta Tibrewala |
128500 |
|
Nisha Tibrewala |
206500 |
|
Rajkumar Tibrewala HUF |
334500 |
|
Sumitra Devi |
252000 |
|
Shivam Tibrewala |
135500 |
|
Charuvi Tibrewala |
107700 |
|
Ayushi Tibrewala |
105000 |
|
Aditi Tibrewala |
76500 |
|
Rival Commerce Private Limited, India |
2946600 |
|
Spark Business Private Limited, India |
126000 |
|
Rainbow Capital Private Limited, India |
996300 |
|
Radhika Tibrewala |
57000 |
|
Vivek Tibrewala HUF |
80000 |
|
Soham Tibrewala |
6500 |
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|
|
|
Total |
6499600 |
AS ON 30.09.2014
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Bodies corporate |
62.60 |
|
Directors or relatives of Directors |
37.40 |
|
Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of Sponge Iron. |
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Products : |
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Brand Names : |
-- |
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Agencies Held : |
Not
Divulged |
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Exports : |
Not
Divulged |
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Imports : |
Not
Divulged |
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Terms : |
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Selling : |
Cash and Credit (30 days / 60 days / 90 days) |
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Purchasing : |
Cash and Credit (30 days / 60 days / 90 days) |
PRODUCTION STATUS : NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
50 (Approximately) |
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Bankers : |
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Facilities : |
Note : Limits with State Bank of India for the Working Capital Requirements i) First Charge over entire Current Assets of the Company, both present and future. ii) Collateral Security: a. Extention of equitable mortgage on factory land belonging in the name of Company in S. No. 225/1C2 Extents. No. 225/1C1 Part, extent 38.29 Acres at No. 9 Eguvarpalayam village, Gummidipundi taluk, District Thiruvallore. b. First Charges on Plant and Machinery of the Company. iii) Guarantee :- Personal guarantee of Shri R. K. Tibrewala Shri Vivek Tibrewala Shri Anurag Tibrewala Shri Aditya Tibrewala |
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Financial Institution : |
SREI Equipment Finance Private Limited, 'Vishwakarma', 86C, Topsia Road, Kolkata - 700046, West Bengal, India |
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Auditors : |
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Name : |
Balakrishnan and Krishnamurthy Chartered Accountants |
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Address : |
No.43, Medavakkam Tank Road, I Floor, Kilpauk, Chennai – 600010, Tamilnadu, India |
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PAN No.: |
AAAFB0637N |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Associate Company: |
Spark Business Private Limited [U51229TN2001PTC047354] |
CAPITAL STRUCTURE
AS ON 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
7,500,000 |
Equity Shares |
Rs.10/- each |
Rs. 75.000 Million |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
|
|
|
|
6,499,600 |
Equity Shares |
Rs.10/- each |
Rs.64.996
Million |
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FINANCIAL DATA
[All figures are
in Rupees Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
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I.
EQUITY AND LIABILITIES |
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(1)Shareholders' Funds |
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(a) Share Capital |
64.996 |
64.996 |
64.996 |
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(b) Reserves &
Surplus |
259.895 |
229.999 |
188.210 |
|
(c) Money received
against share warrants |
0.000 |
0.000 |
0.000 |
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|
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(2) Share Application
money pending allotment |
0.000 |
0.000 |
0.000 |
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Total Shareholders’ Funds
(1) + (2) |
324.891 |
294.995 |
253.206 |
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(3) Non-Current
Liabilities |
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|
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|
(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
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(b) Deferred tax
liabilities (Net) |
28.766 |
29.361 |
29.553 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
0.000 |
0.000 |
0.000 |
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Total Non-current
Liabilities (3) |
28.766 |
29.361 |
29.553 |
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(4) Current Liabilities |
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(a) Short term borrowings |
132.616 |
121.869 |
135.838 |
|
(b) Trade payables |
6.818 |
24.302 |
22.907 |
|
(c) Other current
liabilities |
11.640 |
24.092 |
8.732 |
|
(d) Short-term provisions |
101.808 |
79.369 |
51.357 |
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Total Current Liabilities
(4) |
252.882 |
249.632 |
218.834 |
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TOTAL |
606.539 |
573.988 |
501.593 |
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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 |
162.815 |
173.538 |
179.972 |
|
(ii) Intangible Assets |
0.468 |
0.396 |
0.428 |
|
(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 |
5.452 |
6.214 |
4.632 |
|
(e) Other Non-current
assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
168.735 |
180.148 |
185.032 |
|
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(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
162.967 |
163.016 |
164.780 |
|
(c) Trade receivables |
130.029 |
116.710 |
89.955 |
|
(d) Cash and cash
equivalents |
27.871 |
16.531 |
7.701 |
|
(e) Short-term loans and
advances |
116.937 |
97.583 |
54.125 |
|
(f) Other current assets |
0.000 |
0.000 |
0.000 |
|
Total Current Assets |
437.804 |
393.840 |
316.561 |
|
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|
|
|
|
TOTAL |
606.539 |
573.988 |
501.593 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Income |
964.842 |
950.855 |
1022.807 |
|
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Other Income |
1.131 |
0.689 |
0.767 |
|
|
TOTAL (A) |
965.973 |
951.544 |
1023.574 |
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Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
538.149 |
570.228 |
616.875 |
|
|
Purchases of
Stock-in-Trade |
3.761 |
5.550 |
0.000 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
9.812 |
(17.544) |
(0.610) |
|
|
Employees benefits
expense |
32.802 |
26.283 |
19.661 |
|
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Other expenses |
291.129 |
260.447 |
243.845 |
|
|
TOTAL (B) |
875.653 |
844.964 |
879.771 |
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Less |
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION (C) |
90.320 |
106.580 |
143.803 |
|
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|
Less |
FINANCIAL EXPENSES (D) |
10.343 |
8.932 |
17.867 |
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|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
79.977 |
97.648 |
125.936 |
|
|
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|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
13.028 |
12.894 |
12.456 |
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|
PROFIT/ (LOSS) BEFORE TAX (E-F) (G) |
66.949 |
84.754 |
113.480 |
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|
Less |
TAX (H) |
21.844 |
27.819 |
37.078 |
|
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|
PROFIT/ (LOSS) AFTER TAX
(G-H) (I) |
45.105 |
56.935 |
76.402 |
|
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|
|
|
|
|
Earnings / (Loss) Per
Share (Rs.) |
6.94 |
8.76 |
11.75 |
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 |
NA |
NA |
NA |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin |
(%) |
4.67 |
5.99 |
7.47 |
|
|
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|
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|
Operating Profit Margin |
(%) |
9.36 |
11.21 |
14.06 |
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|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
11.04 |
14.77 |
22.62 |
|
|
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|
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|
Return on Investment (ROI) (PBT/Networth) |
|
0.21 |
0.29 |
0.45 |
|
|
|
|
|
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|
Debt Equity Ratio (Total Debt /Networth) |
|
0.41 |
0.41 |
0.54 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.73 |
1.58 |
1.45 |
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 |
64.996 |
64.996 |
64.996 |
|
Reserves & Surplus |
188.210 |
229.999 |
259.895 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net worth |
253.206 |
294.995 |
324.891 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
135.838 |
121.869 |
132.616 |
|
Current Maturities of
Long Term Debt |
0.000 |
0.000 |
0.000 |
|
Total borrowings |
135.838 |
121.869 |
132.616 |
|
Debt/Equity ratio |
0.536 |
0.413 |
0.408 |
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 |
1022.807 |
950.855 |
964.842 |
|
|
|
(7.035) |
1.471 |
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 |
1022.807 |
950.855 |
964.842 |
|
Profit |
76.402 |
56.935 |
45.105 |
|
|
7.47% |
5.99% |
4.67% |
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 |
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 |
Yes |
|
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 |
NOTE:
Registered Office of
the company has been shifted from 145, AL Loock New No.5, 2nd Street, 11th Main Road,
Anna Nagar, Chennai - 600040, TAMILNADU, India to the present address w.ef. 25.05.2007.
CORPORATE INFORMATION
Akshara Industries Limited is a closely held Limited Company in India under the provisions of the Companies Act, 195 6. It is a manufacturer of Sponge Iron with an installed 200 TPD/60000 TPA.
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
10026424 |
20/03/2015 * |
383,000,000.00 |
STATE BANK OF INDIA |
OVERSEAS BRANCH, NO.86. RAJAJI SALAI, CHENNAI, TA |
C49182363 |
* Date of charge modification
FIXED ASSETS
- Land
- Building
- Plant and equipment
- Furniture and fixtures
- 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.64.03 |
|
|
1 |
Rs.99.27 |
|
Euro |
1 |
Rs.71.89 |
INFORMATION DETAILS
|
Information
Gathered by : |
MNJ |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
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 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
4 |
|
--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 |
|
44 |
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.