MIRA INFORM REPORT
|
Report No. : |
329120 |
|
Report Date : |
25.06.2015 |
IDENTIFICATION DETAILS
|
Name : |
EXCLUSIVE FIBERS LIMITED (W.E.F.20.04.2014) |
|
|
|
|
Formerly Known
As : |
EXCLUSIVE FIBERS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
31/3203, Beadon Pura, Karol Bagh, New Delhi – 110005 |
|
Tel. No.: |
91-11-28725281 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
16.04.2004 |
|
|
|
|
Com. Reg. No.: |
55-125846 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.54.167 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74999DL2004PLC125846 |
|
|
|
|
IEC No.: |
Not Available |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
Not Available |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
The company is engaged in business of manufactures, dealers and distributors of all kind of polyester and polyester products, staple fiber, yarns and fibers. |
|
|
|
|
No. of Employees
: |
40 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (43) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company incorporated in the year 2004 having
satisfactory track. Rating takes into consideration the company’s overall decent
financials and fair profit margin. However, rating constraints on account of unfavourable gape between
trade payables and receivables which may hamper the liquid profile of the
company. Trade relations are fair. Business is active. Payment terms are slow
but correct. The company can be considered for business dealings with 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.
EXTERNAL AGENCY RATING
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. Rajeev Aggarwal |
|
Designation : |
Director |
|
Contact No.: |
91-9811035872 |
|
Date : |
25.06.2015 |
LOCATIONS
|
Registered Office : |
31/3203, Beadon Pura, Karol Bagh, New Delhi – 110005, India |
|
Tel. No.: |
91-11-28725281 |
|
Mobile No.: |
91-9811035872 (Mr. Rajeev Agarwal) |
|
Fax No.: |
91-11-26365812 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Factory : |
Plot No.D2 / E-16, Dahej Industrial Area, Baruch – 392130, Gujarat,
India |
DIRECTORS
As on 20.09.2014
|
Name : |
Rajeev Kumar Aggarwal |
|
Designation : |
Director |
|
Address : |
E-38, 1st Floor, Greater Kailash, Part-I, New Delhi - 110048, India |
|
Date of Birth/Age : |
22.07.1967 |
|
Date of Appointment : |
16.04.2004 |
|
DIN No.: |
00442120 |
|
|
|
|
Name : |
Meenu Aggarwal |
|
Designation : |
Director |
|
Address : |
E-38, 1st Floor,, Greater Kailash, Part-I, New Delhi - 110048, India |
|
Date of Birth/Age : |
20.05.1970 |
|
Date of Appointment : |
16.04.2004 |
|
DIN No.: |
00442229 |
|
|
|
|
Name : |
Shantanu Ghosh Dastidar |
|
Designation : |
Director |
|
Address : |
No. 13, 5th Cross, Temple Road, Shirdi Sai Nagar, Munnekolala, Marathalli, Bangalore - 560037, Karnataka, India |
|
Date of Birth/Age : |
05.11.1962 |
|
Date of Appointment : |
20.09.2014 |
|
DIN No.: |
06739541 |
KEY EXECUTIVES
|
Name : |
Smriti Seth |
|
Designation : |
Company Secretary |
|
Address : |
Sector-14, House No. 206, Vasundhara, Ghaziabad, 201012, Uttar Pradesh, India |
|
Date of Appointment : |
12.11.2014 |
|
PAN No. : |
Bpgps7952m |
|
|
|
|
Name : |
Bikram Singh |
|
Designation : |
Chief Finance Officer |
|
Address : |
B-1/105, Sunrise Apartments, Sector-13, Rohini, Delhi, 110085, Delhi, India |
|
Date of Appointment : |
21.05.2015 |
|
PAN No. : |
Aaapg1317j |
MAJOR SHAREHOLDERS
As on 20.09.2014
|
Names of
Shareholders |
No. of Shares |
|
Mr. Rajeev Aggarwal |
2411335 |
|
Mrs. Meenu Aggarwal |
1885225 |
|
Exclusive Overseas Private Limited, India |
530000 |
|
Ways Info Technologies Private Limited, India |
190000 |
|
Shenzhen Properties Private Limited, India |
300000 |
|
Jahnvi Aggarwal (through guardian) |
35000 |
|
Krrish Aggarwal (through guardian) |
30000 |
|
Riddhi Aggarwal |
35000 |
|
Shantanu Ghosh Dastidar |
100 |
|
Total |
5416660 |
As on 20.09.2014
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Bodies corporate |
18.83 |
|
Directors or relatives of Directors |
81.16 |
|
Other top fifty shareholders |
0.01 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
The company is engaged in business of manufactures,
dealers and distributors of all kind of polyester and polyester products, staple
fiber, yarns and fibers. |
|
|
|
|
Products : |
|
|
|
|
|
Brand Names : |
Not Available |
|
|
|
|
Agencies Held : |
Not Available |
|
|
|
|
Exports : |
|
|
Products : |
Finished Goods |
|
Countries : |
|
|
|
|
|
Imports : |
|
|
Products : |
|
|
Countries : |
|
|
|
|
|
Terms : |
|
|
Selling : |
Cash, L/C and Credit |
|
|
|
|
Purchasing : |
Cash, L/C and Credit |
PRODUCTION STATUS = NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
|
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Customers : |
Wholesalers, Retailers and Manufacturer
|
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
No. of Employees : |
40 (Approximately) |
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Bankers : |
|
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Facilities : |
(Rs.
In Million)
|
|
Auditors : |
|
|
Name : |
Sarvam and Associates Chartered Accountants |
|
Address : |
Office No 403, Block-B, NDM-1 Mall Road, Netaji Subhash Place, Pitampura, New Delhi – 110034, India |
|
PAN No.: |
AAOFS2412A |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Associates : |
Exclusive Overseas Private Limited, India |
|
|
|
|
Subsidiaries : |
Exclusive Carpets Private Limited, India |
CAPITAL STRUCTURE
As on 20.09.2014
Authorised Capital: Rs.100.000 Million
Issued, Subscribed & Paid-up Capital: Rs.56.367
Million
As on 31.03.2014
Authorised Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000000 |
Equity Shares |
Rs.10/- each |
Rs.100.000 Million |
Issued, Subscribed & Paid-up Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5416660 |
Equity Shares |
Rs.10/- each |
Rs.54.167
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 |
54.167 |
34.717 |
23.144 |
|
(b) Reserves &
Surplus |
74.886 |
73.868 |
13.177 |
|
(c) Money received
against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application
money pending allotment |
0.000 |
14.250 |
0.000 |
|
Total Shareholders’ Funds
(1) + (2) |
129.053 |
122.835 |
36.321 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
73.435 |
13.001 |
0.000 |
|
(b) Deferred tax
liabilities (Net) |
0.039 |
0.046 |
0.041 |
|
(c) Other long term
liabilities |
3.649 |
0.000 |
0.000 |
|
(d) long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
77.123 |
13.047 |
0.041 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
10.216 |
9.630 |
0.629 |
|
(b) Trade payables |
17.998 |
12.202 |
0.000 |
|
(c) Other current
liabilities |
7.107 |
9.817 |
4.572 |
|
(d) Short-term provisions |
0.422 |
0.069 |
0.058 |
|
Total Current Liabilities
(4) |
35.743 |
31.718 |
5.259 |
|
|
|
|
|
|
TOTAL |
241.919 |
167.600 |
41.621 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
165.629 |
164.985 |
34.441 |
|
(ii) Intangible Assets |
0.009 |
0.012 |
0.000 |
|
(iii) Capital
work-in-progress |
50.826 |
0.430 |
0.430 |
|
(iv) Intangible assets
under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
0.098 |
0.000 |
0.000 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
1.400 |
0.000 |
0.000 |
|
(e) Other Non-current
assets |
0.092 |
0.836 |
0.531 |
|
Total Non-Current Assets |
218.054 |
166.263 |
35.402 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
0.813 |
0.585 |
3.655 |
|
(c) Trade receivables |
1.164 |
0.054 |
0.000 |
|
(d) Cash and cash
equivalents |
0.934 |
0.608 |
2.434 |
|
(e) Short-term loans and
advances |
20.924 |
0.000 |
0.000 |
|
(f) Other current assets |
0.030 |
0.090 |
0.130 |
|
Total Current Assets |
23.865 |
1.337 |
6.219 |
|
|
|
|
|
|
TOTAL |
241.919 |
167.600 |
41.621 |
PROFIT & LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Income |
98.540 |
98.033 |
|
|
|
Other Income |
1.220 |
1.303 |
|
|
|
TOTAL |
99.760 |
99.336 |
85.812 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
88.761 |
87.577 |
|
|
|
Purchases of
Stock-in-Trade |
0.000 |
0.000 |
|
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
-0.227 |
3.070 |
|
|
|
Employees benefits
expense |
1.097 |
0.408 |
|
|
|
Other expenses |
5.829 |
3.721 |
|
|
|
TOTAL |
95.460 |
94.776 |
85.514 |
|
|
|
|
|
|
|
Less |
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION |
4.300 |
4.560 |
|
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
0.080 |
1.344 |
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION |
4.220 |
3.216 |
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
2.786 |
2.853 |
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
1.434 |
0.363 |
0.298 |
|
|
|
|
|
|
|
Less |
TAX |
0.415 |
0.044 |
0.099 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
1.019 |
0.319 |
0.199 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (Rs.) |
0.18 |
0.05 |
0.03 |
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 (PAT/Sales) |
(%) |
1.03 |
0.33 |
0.23 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT / Sales) |
(%) |
4.36 |
4.65 |
NA |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.75 |
0.22 |
0.72 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.01 |
0.00 |
0.01 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.65 |
0.18 |
0.02 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.67 |
0.04 |
1.18 |
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 |
23.144 |
34.717 |
54.167 |
|
Reserves & Surplus |
13.177 |
73.868 |
74.886 |
|
Share Application money
pending allotment |
0.000 |
14.250 |
0.000 |
|
Net worth |
36.321 |
122.835 |
129.053 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
13.001 |
73.435 |
|
Short term borrowings |
0.629 |
9.630 |
10.216 |
|
Total borrowings |
0.629 |
22.631 |
83.651 |
|
Debt/Equity ratio |
0.017 |
0.184 |
0.648 |
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 |
85.812 |
98.033 |
98.540 |
|
|
|
14.242 |
0.517 |
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 |
85.812 |
98.033 |
98.540 |
|
Profit |
0.199 |
0.319 |
1.019 |
|
|
0.23% |
0.33% |
1.03% |
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 |
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 |
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 |
CORPORATE INFORMATION
Subject is a Private Limited Company incorporated in India on 16th April 2004 under the provision of the Companies Act, 1956. The company has gone into listing in April 2014 and presently its name is Exclusive Fibers Limited. The company is engaged in business of manufactures, dealers and distributors of all kind of polyester and polyester products, staple fiber, yarns and fibers.
UNSECURED LOAN
(Rs.
In Million)
|
Particulars |
As
on 31.03.2014 |
As
on 31.03.2013 |
|
SHORT TERM
BORROWING |
|
|
|
Loans and advances from related parties |
0.100 |
0.085 |
|
Term Loans from Banks |
0.207 |
0.000 |
|
Total |
0.307 |
0.085 |
INDEX OF CHARGES
|
S. No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10390527 |
20/02/2015 * |
349,344,000.00 |
Corporation Bank |
Karol Bagh Branch, New Delhi, Delhi - 110005, INDIA |
C46278198 |
* Date of charge modification
FIXED ASSETS
- Land
- Buildings
- Vehicles
- Office equipment
- Computer equipment’s
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources including
but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist organization
or whom notice had been received that all financial transactions involving
their assets have been blocked or convicted, found guilty or against whom a
judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent government
authority for any violation of anti-corruption laws or international anti-money
laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms and
conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.66 |
|
|
1 |
Rs.100.50 |
|
Euro |
1 |
Rs.71.31 |
INFORMATION DETAILS
|
Information
Gathered by : |
DIP |
|
|
|
|
Analysis Done by
: |
KIN |
|
|
|
|
Report Prepared
by : |
PNM |
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 |
4 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER
|
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
43 |
This score serves as a reference to assess
SC’s credit risk and to set the amount of credit to be extended. It is calculated
from a composite of weighted scores obtained from each of the major sections of
this report. The assessed factors and their relative weights (as indicated
through %) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment record
(10%)
Credit history
(10%) Market trend (10%) Operational size
(10%)
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
-- |
NB |
New Business |
-- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.