MIRA INFORM REPORT
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Report No. : |
329528 |
|
Report Date : |
29.06.2015 |
IDENTIFICATION DETAILS
|
Name : |
ATTITUDE PLASTICS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Plot No. 35-2 D-II Block, Telco Road MIDC, Chinchwad, Pune – 411019, Maharashtra |
|
Tel. No.: |
91-20-66352400/ 27472750 |
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|
|
Country : |
India |
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|
|
|
Financials (as
on) : |
31.03.2014 |
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|
|
|
Date of
Incorporation : |
29.10.2002 |
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|
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Com. Reg. No.: |
11-017389 |
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|
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Capital Investment
/ Paid-up Capital : |
Rs. 82.168 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U25209PN2002PTC017389 |
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IEC No.: |
Not Available |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
AAECA1312N |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer of Plastic Moulded Components. |
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|
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No. of Employees
: |
100 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (42) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 7000 |
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|
|
Status : |
Satisfactory |
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|
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established private limited company incorporated in the
year 2002, having satisfactory track. Mr. Nitin Gupta (Director) provided all information further he claimed
that company has achieved sales turnover of Rs. 1000.000 Million in FY14. Rating takes into consideration company’s strong net worth and healthy
profit margin. However, rating constraints on account of huge and increasing external
borrowing recorded by 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.
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. Nitin Gupta |
|
Designation : |
Director |
|
Contact No.: |
91-20-66111765 |
|
Date : |
27.06.2015 |
LOCATIONS
|
Registered Office/ Corporate Office : |
Plot No. 35-2 D-II Block, Telco Road MIDC, Chinchwad, Pune
– 411019, Maharashtra, India |
|
Tel. No.: |
91-20-66352400/ 27472750 |
|
Fax No.: |
91-66111764 |
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E-Mail : |
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|
Website : |
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|
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Factory 1 : |
Plot no. 64/11, MIDC, Chinchwad, Pune – 410501, Maharashtra, India |
|
Tel. No.: |
91-20-56111772/71 |
|
|
|
|
Factory 2 : |
Gate No. 200, Village Bhamboli, Taluka Rajgurunagar, Pune – 410501,
Maharashtra, India |
|
Tel. No.: |
91-2135-618500 |
|
E-Mail : |
DIRECTORS
As on 30.09.2014
|
Name : |
Mr. Nitin Mahendra Gupta |
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|
Designation : |
Director |
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|
Address : |
'Nirmal' Bunglow, Plot No. 162, Sector No. 24, Pcntda, Nigdi, Pune – 411031, Maharashtra, India |
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Date of Birth/Age : |
11.08.1969 |
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Date of Appointment : |
29.10.2002 |
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DIN No.: |
00884759 |
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Other
directorship :
|
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Name : |
Mrs. Neena Nitin Gupta |
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Designation : |
Directo |
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|
Address : |
'Nirmal' Bunglow, Plot No. 162, Sector No. 24, Pcntda, Nigdi,
Pune – 411031, Maharashtra, India |
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|
Date of Birth/Age : |
17.08.1972 |
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Date of Appointment : |
01.04.2004 |
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DIN No.: |
00884737 |
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Other Directorship:
|
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MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2014
|
Names of Shareholders |
|
No. of Shares |
|
Nitin Mahendra Gupta |
|
2061000 |
|
Neena Nitin Gupta |
|
673260 |
|
Rajeev Kumar Gupta |
|
482517 |
|
Hotel Surya Private Limited, India |
|
10 |
|
Badve Autocoms Private Limited, India |
|
10 |
|
Badve Engineering Limited, India |
|
10 |
|
Total |
|
3216807 |
|
Names of Shareholders (Preferences Shares) |
|
No. of Shares |
|
Nitin Mahendra Gupta |
|
5000000 |
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 |
15.00 |
|
Directors or relatives of Directors |
85.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Plastic Moulded Components. |
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|
|
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Products : |
Not Available |
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|
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
Not Divulged |
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Imports : |
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Products : |
Raw Material |
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Countries : |
China |
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Terms : |
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Selling : |
Cash and Credit (30/60/90Days) |
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Purchasing : |
Cash and Credit (30/60/90Days) |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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No. of Employees : |
100 (Approximately) |
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Bankers : |
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Facilities : |
(Rs.
In Million)
|
|
|
|
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Banking
Relations : |
-- |
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|
|
|
Auditors : |
|
|
Name : |
S. Gautam and Associates Chartered Accountants |
|
Address : |
25, B Wing (Rear), First Floor, Kamala Cross Roads, Opposite PCMC Building, Pune – 411018, Maharashtra, India |
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PAN.: |
ABLFS5656G |
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Memberships : |
-- |
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Collaborators : |
-- |
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Enterprises which
are owned, or have
significant influence of or are
partners with Key management personnel and their
relatives: |
CIN No.: U28939PN2009PTC133763
CIN No.: U01122PN2014PTC150574
CIN No.: U25209PN1997PTC108183
CIN No.: U29299PN2003PTC017792 |
CAPITAL STRUCTURE
As on 30.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3500000 |
Equity Shares |
Rs.10/- each |
Rs. 35.000 Million |
|
5000000 |
Preference Shares |
Rs.10/- each |
Rs. 50.000 Million |
|
|
Total |
|
Rs. 85.000
Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3216787 |
Equity Shares |
Rs.10/- each |
Rs. 32.168
Million |
|
5000000 |
Preference Shares |
Rs.10/- each |
Rs. 50.000
Million |
|
|
Total |
|
Rs. 82.168 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 |
82.168 |
82.168 |
82.168 |
|
(b) Reserves & Surplus |
163.330 |
119.135 |
85.451 |
|
(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) |
245.498 |
201.303 |
167.619 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
362.471 |
209.113 |
245.141 |
|
(b) Deferred tax liabilities
(Net) |
34.348 |
30.744 |
25.966 |
|
(c) Other long term
liabilities |
4.894 |
2.917 |
2.077 |
|
(d) long-term provisions |
0.027 |
0.529 |
1.363 |
|
Total
Non-current Liabilities (3) |
401.740 |
243.303 |
274.547 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
159.481 |
104.387 |
100.919 |
|
(b) Trade payables |
19.784 |
17.526 |
12.297 |
|
(c) Other current liabilities |
90.329 |
58.622 |
48.850 |
|
(d) Short-term provisions |
13.776 |
7.790 |
3.637 |
|
Total
Current Liabilities (4) |
283.370 |
188.325 |
165.703 |
|
|
|
|
|
|
TOTAL |
930.608 |
632.931 |
607.869 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
459.580 |
369.978 |
364.779 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital work-in-progress |
0.000 |
10.451 |
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 |
38.488 |
9.566 |
9.997 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
498.068 |
389.995 |
374.776 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
20.001 |
0.000 |
0.000 |
|
(b) Inventories |
181.158 |
126.394 |
127.104 |
|
(c) Trade receivables |
42.989 |
94.268 |
60.854 |
|
(d) Cash and cash equivalents |
86.968 |
2.942 |
6.356 |
|
(e) Short-term loans and
advances |
71.284 |
4.945 |
28.279 |
|
(f) Other current assets |
30.140 |
14.387 |
10.500 |
|
Total
Current Assets |
432.540 |
242.936 |
233.093 |
|
|
|
|
|
|
TOTAL |
930.608 |
632.931 |
607.869 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Income |
|
|
|
|
|
Other Income |
|
|
|
|
|
TOTAL
(A) |
1064.956 |
979.440 |
839.341 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
TOTAL
(B) |
1001.658 |
860.012 |
756.790 |
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX, DEPRECIATION
AND AMORTISATION (C) |
NA |
119.427 |
82.550 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
NA |
43.466 |
35.037 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
NA |
75.961 |
47.513 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION (F) |
NA |
26.499 |
21.451 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX (E-F) (G) |
63.298 |
49.462 |
26.062 |
|
|
|
|
|
|
|
Less |
TAX (H) |
19.104 |
15.778 |
10.931 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX (G-H) (I) |
44.194 |
33.684 |
15.131 |
|
|
|
|
|
|
|
|
EARNINGS
IN FOREIGN CURRENCY |
0.306 |
9.249 |
9.926 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
5.38 |
4.09 |
1.84 |
|
Particulars |
|
|
31.03.2015 |
|
Sales Turnover (Approximately) |
|
|
1100.000 |
Expected Sales (2015-2016) : Rs.1200.000 Million
The above information has been parted by Mr. Nitin Gupta
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current Maturities of Long term debt |
58.261 |
43.917 |
36.208 |
|
Cash generated from operations |
NA |
NA |
NA |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
4.15 |
3.44 |
1.80 |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
NA |
12.19 |
9.84 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
6.80 |
7.95 |
4.29 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.26 |
0.25 |
0.16 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
2.36 |
1.78 |
2.28 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.53 |
1.29 |
1.41 |
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 |
82.168 |
82.168 |
82.168 |
|
Reserves & Surplus |
85.451 |
119.135 |
163.330 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
167.619 |
201.303 |
245.498 |
|
|
|
|
|
|
long-term borrowings |
245.141 |
209.113 |
362.471 |
|
Short term borrowings |
100.919 |
104.387 |
159.481 |
|
Current Maturities Of
Long-Term Debts |
36.208 |
43.917 |
58.261 |
|
Total
borrowings |
382.268 |
357.417 |
580.213 |
|
Debt/Equity
ratio |
2.281 |
1.776 |
2.363 |
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) |
|
Total Income |
839.341 |
979.440 |
1064.956 |
|
|
|
16.692 |
8.731 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Total Income |
839.341 |
979.440 |
1064.956 |
|
Profit |
15.131 |
33.684 |
44.194 |
|
|
1.80% |
3.44% |
4.15% |
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 four years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
Yes |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
No |
|
32 |
Litigations that the firm/promoter
involved in |
-- |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
Yes |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
UNSECURED LOAN
(Rs.
In Million)
|
Particulars |
As
on 31.03.2014 |
As
on 31.03.2013 |
|
LONG TERM
BORROWING |
|
|
|
Loan and advances from related parties |
165.596 |
38.219 |
|
|
|
|
|
Total |
165.596 |
38.219 |
INDEX OF CHARGES: NO
CHARGES EXIST FOR THE COMPANY
|
S.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10500761 |
07/05/2014 |
667,825,000.00 |
THE COSMOS
CO-OPERATIVE BANK LIMITED (CHINCHWAD BR |
HEAD OFFICE 269/270, SHANIWAR PETH, PUNE, Maharashtra - 411030, INDIA |
C05463856 |
|
2 |
10477169 |
23/12/2013 |
3,500,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, Maharashtra - 400013, INDIA |
B96173950 |
|
3 |
10425576 |
23/03/2013 * |
170,000,000.00 |
IDBI Bank Limited |
4620, PATIL PLAZA,
NEAR HANS MEDICAL, PUNE-MUMBAI |
B75376327 |
*Date of charge modification
FIXED ASSETS
- Land
- Buildings
- Plant and Equipment
- Furniture and Fixtures
- Vehicles
- 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,
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.63.60 |
|
|
1 |
Rs.100.09 |
|
Euro |
1 |
Rs.71.23 |
INFORMATION DETAILS
|
Information
Gathered by : |
PRP |
|
|
|
|
Analysis Done by
: |
KIN |
|
|
|
|
Report Prepared
by : |
ART |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILITY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
3 |
|
--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 |
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 |
|
42 |
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.