MIRA INFORM REPORT
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Report No. : |
310488 |
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Report Date : |
03.03.2015 |
IDENTIFICATION DETAILS
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Name : |
DURA-LINE INDIA PRIVATE LIMITED |
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Formerly Known
As : |
BHARTI DURA-LINE PRIVATE LIMITED |
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Registered
Office : |
A/10, Sankrit Bhawan, Aruna Asaf Ali Marg, Qutab Institutional Area,
New Delhi – 110067 |
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Country : |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
19.08.1996 |
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Com. Reg. No.: |
55-081248 |
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Capital
Investment / Paid-up Capital : |
Rs.75.000 Million |
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CIN No.: [Company Identification
No.] |
U25209DL1996PTC081248 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
DELD06373D |
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PAN No.: [Permanent Account No.] |
AABCD4024B |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Subject is engaged in the HDPE Ducts and Pipe
Manufacturing and Solutions used in telecom and infrastructure sectors. |
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No. of Employees
: |
400 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (50) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 record. Profitability of the company seems to be low during 2014. However, general
financial position of the company seems to be decent.. Trade relations are reported as fair. Business is active. Payments are
reported to be usually correct and as per commitment. The company can be considered normal 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 – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
|
Rating |
Fund based limits=A- |
|
Rating Explanation |
Have adequate degree of safety and carry low
credit risk. |
|
Date |
March, 2014 |
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Rating Agency Name |
ICRA |
|
Rating |
Non-fund based limits=A2+ |
|
Rating Explanation |
Have strong degree of safety and carry low
credit risk. |
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Date |
March, 2014 |
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
31-03-2014.
INFORMATION PARTED BY
|
Name : |
Mr. Ravikant |
|
Designation : |
AGM Finance |
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Contact No.: |
91-11-43123400 |
|
Date : |
02.03.2015 |
LOCATIONS
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Registered/ Head Office : |
A/10, Sankrit Bhawan, Aruna Asal Ali Marg, Qutab Institutional Area,
New Delhi – 110007, India |
|
Tel. No.: |
91-11-51710470/ 43123400/ 51733606/ 43123414 |
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Fax No.: |
91-11-41716816/ 26516816 |
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E-Mail : |
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Website : |
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Area : |
5182 sq. ft. |
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Location : |
Owned |
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Corporate Office 1: |
Plot -19/22, Phase – 1 A, Sancoale Industrial Estate, Zuari Nagar,
Sout Goa, India |
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Location : |
Leased |
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Corporate Office
2 : |
S-6, Green Park Extention, Near Uphaar Cinema, New Delhi -
110016, India |
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Tel. No.: |
91-11-26533606 |
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Fax No.: |
91-11-26516816 |
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Factory 1: |
L 24 and 25, Verna Electronic City, Verna, Salcete, Goa - 403722, |
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Tel. No.: |
91-832-6693200/ 669320204 |
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Fax No.: |
91-832-6693201 |
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Email : |
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Location : |
Leased |
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Factory 2: |
S. P. 14 B, RIICO Industrial Area, Nimrana District, Alwar – 301705,
Rajasthan, India |
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Location : |
Rented |
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Regional Office
: |
703, Centre Point, Andheri Kurla Road, J.B. Nagar, Andheri
(East), Mumbai – 400059, Maharashtra, India |
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Tel No.: |
91-22-66955315 |
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Fax No.: |
91-22-66955316 |
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Email : |
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Overseas Office
: |
¯ 835,
Tel. No. 800-847-7661 1-865-218-3460 Fax. No. 1-865-218-3462 ¯ ¯ ¯ Ave. 5 de Febrero, Norte No. 1309-B, Zona Industrial Carillo Puerto, 76130, Queretaro, Qro, Mexico Tel. No. 52-42-177 970 Fax. No. 52-42-177750 E-mail. elem@duralineqr.com.mx ¯ U
Pisaku 1, 763 Tlumacov, Tel. No. 420-577-199 111 Fax. No. 420-577-199 10 E-mail. marketing@duraline.cz |
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Branch Office : |
Located at: · Mumbai · Bangalore · Hyderabad · Kolkata · Chennai |
DIRECTORS
AS ON 30.09.2014
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Name : |
Mr. Abraham George |
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Designation : |
Managing Director |
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Address : |
Avabae, 14 Ferns City, Outer Ring Road, Marthahalli, Bangalore – 560037, Karnataka, India |
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Date of Birth/Age : |
24.11.1959 |
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Date of Appointment : |
15.01.2013 |
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PAN No.: |
AAEPG0207F |
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DIN No.: |
01644481 |
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Other Directorship:
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Name : |
Mr. Mahendra Kumar Gambhir |
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Designation : |
Director |
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Address : |
17, G/F, Empire Estate, Sultanpur, Gurgaon Road, New Delhi – 110030, India |
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Date of Birth/Age : |
27.09.1955 |
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Date of Appointment : |
03.10.2006 |
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PAN No.: |
AACPG7578H |
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DIN No.: |
01273826 |
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Name : |
Mr. Paresh Chari |
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Designation : |
Director |
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Address : |
1012, Gettysvue, Drive Knox Ville, Tennessee, USA 37922 |
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Date of Birth/Age : |
24.10.1951 |
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Date of Appointment : |
09.11.2005 |
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DIN No.: |
01383589 |
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Name : |
Mr. Wesley Andrew Tomaszek |
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Designation : |
Director |
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Address : |
125 Pier View Street Unit 408, Daniel Island, 29492, United States of America |
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Date of Birth/Age : |
14.10.1960 |
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Date of Appointment : |
05.03.2014 |
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DIN No.: |
06846884 |
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KEY EXECUTIVES
|
Name : |
Mr. Ravikant |
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Designation : |
AGM Finance |
MAJOR SHAREHOLDERS
AS ON 30.09.2014
|
Names of Shareholders |
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No. of Shares |
|
Duraline Intl Inc., |
|
7499998 |
|
Mahendra Kumar Gambhir |
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1 |
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Total |
|
7499999 |
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] |
99.99 |
|
Directors or relatives of Directors |
0.01 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Subject is engaged in the HDPE Ducts and Pipe
Manuifacturing and Solutions used in telecom and infrastructure sectors. |
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Products : |
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Brand Names : |
Not Divulged |
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Agencies Held : |
Not Divulged |
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Exports : |
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Products : |
Finished Goods |
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Countries : |
· South Africa · Middle East · Australia · New Zealand |
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Imports : |
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Products : |
Raw Material |
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Countries : |
Middle East |
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Terms : |
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Selling : |
Cash, Credit |
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Purchasing : |
Cash, Credit |
PRODUCTION STATUS – NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
400 (Approximately) |
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Bankers : |
· State Bank of India, Industrial Financial Branch, 14th Floor, Jawahar Bhawan, 1 Tolstoy Marg, New Delhi – 110001, India ·
IDBI Bank, Srifort Institutional Area, New Delhi – 110016, India ·
Oriental Bank of Commerce, I.F.B., New Delhi – 110001, India ·
Bank of India, New Delhi Mid Corporate Brach, 37, Saheed Bhagat Singh
Marg, Connaught Place, New Delhi – 110001, India |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Price Waterhouse Cooper and Company Chartered Accountants |
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Address : |
Building No.8, Tower-B, 7th And 8th Floor, DLF Cyber City, Gurgaon – 122002, Haryana, India |
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PAN
No.: |
AAHFP0187A |
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Membership : |
-- |
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Holding company |
Dura-Line International Inc., USA |
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Subsidiary
company : |
Dura-Line Middle East LLC |
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Fellow Subsidiary company : |
· Dura-Line South Africa (Earlier Nextube) · Dura-Line Mexico S.A de S.V. · Dura-Line CT S.R.O |
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Others : |
Dura-Line Corporation |
CAPITAL STRUCTURE
AS ON 30.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
|
|
|
10000000 |
Equity Shares |
Rs.10/- each |
Rs.100.000 Million |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
|
|
|
7499999 |
Equity Shares |
Rs.10/- each |
Rs.75.000 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 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
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|
|
|
(a) Share Capital |
75.000 |
75.000 |
75.000 |
|
(b) Reserves & Surplus |
1634.300 |
1471.000 |
1421.800 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
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|
|
|
|
|
(2) Share Application money pending
allotment |
0.000 |
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
1709.300 |
1546.000 |
1496.800 |
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(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
35.600 |
41.000 |
42.500 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
9.300 |
9.900 |
11.300 |
|
Total Non-current
Liabilities (3) |
44.900 |
50.900 |
53.800 |
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|
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(4)
Current Liabilities |
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|
|
|
(a) Short
term borrowings |
703.100 |
112.500 |
455.700 |
|
(b) Trade
payables |
271.000 |
219.400 |
215.100 |
|
(c) Other
current liabilities |
233.300 |
197.300 |
133.800 |
|
(d) Short-term
provisions |
20.500 |
19.100 |
16.100 |
|
Total Current
Liabilities (4) |
1227.900 |
548.300 |
820.700 |
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|
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TOTAL |
2982.100 |
2145.200 |
2371.300 |
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II.
ASSETS |
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|
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|
(1)
Non-current assets |
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|
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(a) Fixed
Assets |
|
|
|
|
(i) Tangible
assets |
517.200 |
481.000 |
479.000 |
|
(ii)
Intangible Assets |
2.000 |
1.300 |
1.300 |
|
(iii)
Capital work-in-progress |
6.300 |
1.800 |
0.800 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
113.600 |
113.600 |
113.600 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
32.900 |
30.000 |
30.600 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
672.000 |
627.700 |
625.300 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
762.200 |
540.100 |
600.000 |
|
(c) Trade
receivables |
1201.400 |
675.900 |
877.900 |
|
(d) Cash
and cash equivalents |
4.100 |
1.900 |
2.100 |
|
(e)
Short-term loans and advances |
299.500 |
241.700 |
222.400 |
|
(f) Other
current assets |
42.900 |
57.900 |
43.600 |
|
Total
Current Assets |
2310.100 |
1517.500 |
1746.000 |
|
|
|
|
|
|
TOTAL |
2982.100 |
2145.200 |
2371.300 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
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|
|
|
|
|
|
TOTAL (A) |
5267.600 |
3565.000 |
3612.000 |
|
|
|
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|
Less |
EXPENSES |
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|
|
|
|
|
|
TOTAL (B) |
4906.400 |
3378.300 |
3427.500 |
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|
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|
|
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|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (A-B) (C) |
361.200 |
186.700 |
184.500 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
59.900 |
51.900 |
57.100 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
301.300 |
134.800 |
127.400 |
|
|
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION (F) |
60.700 |
60.600 |
56.700 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F)
(G) |
240.600 |
74.200 |
70.700 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
77.400 |
25.000 |
22.300 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-H) (I) |
163.200 |
49.200 |
48.400 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
21.76 |
6.56 |
6.45 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Return on Total Assets (PBT/Total Assets) |
(%) |
8.41 |
3.66 |
3.13 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.14 |
0.05 |
0.05 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.41 |
0.07 |
0.30 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.88 |
2.77 |
2.13 |
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 |
75.000 |
75.000 |
75.000 |
|
Reserves & Surplus |
1421.800 |
1471.000 |
1634.300 |
|
Net
worth |
1496.800 |
1546.000 |
1709.300 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
455.700 |
112.500 |
703.100 |
|
Total
borrowings |
455.700 |
112.500 |
703.100 |
|
Debt/Equity
ratio |
0.304 |
0.073 |
0.411 |
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 |
3612.000 |
3565.000 |
5267.600 |
|
|
|
(1.301) |
47.759 |
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
|
3612.000 |
3565.000 |
5267.600 |
|
Profit |
48.400 |
49.200 |
163.200 |
|
|
1.34% |
1.38% |
3.10% |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info Agents |
Available in
Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
Yes |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact
person |
Yes |
|
11] |
Turnover of firm for last
three years |
Yes |
|
12] |
Profitability for last
three years |
Yes |
|
13] |
Reasons for variation
<> 20% |
----------- |
|
14] |
Estimation for coming
financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
Yes |
|
18] |
Major customers |
Yes |
|
19] |
Payments terms |
Yes |
|
20] |
Export / Import details
(if applicable) |
Yes |
|
21] |
Market information |
---------- |
|
22] |
Litigations that the firm
/ promoter involved in |
---------- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking
account |
---------- |
|
26] |
Buyer visit details |
---------- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
Yes |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of
Proprietor/Partner/Director, if available |
Yes |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
INDEX OF CHARGE:
|
Sr. No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10508351 |
10/11/2014 * |
860,000,000.00 |
Yes Bank Limited |
9th
Floor, Nehru Centre, Discovery of India,, Dr. |
C34036582 |
|
2 |
80027421 |
10/05/2010 * |
600,000,000.00 |
Corporation Bank Industrial Finance Branch |
16/10,1st,Floor
Main Arya Samaj Road, Karol Bagh, |
A86606100 |
|
3 |
90055359 |
10/05/2010 * |
300,000,000.00 |
Corporation Bank Industrial Finance Branch |
16/10,1st,Floor
Main Arya Samaj Road, Karol Bagh, |
A86610078 |
*Date of modification Charges
FIXED ASSETS:
· Land
· Buildings
· Plant and Equipment
· Furniture and Fixtures
· Vehicles
· Motor Vehicles
· Office equipment
· Computer Equipments
· Other Equipments
· Leasehold Improvements
· Computer Software
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 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.61.82 |
|
|
1 |
Rs.95.27 |
|
Euro |
1 |
Rs.69.14 |
INFORMATION DETAILS
|
Information
Gathered by : |
DIP |
|
|
|
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
NKT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILITY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--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 |
|
50 |
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.