MIRA INFORM REPORT
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Report No. : |
311952 |
|
Report Date : |
24.03.2015 |
IDENTIFICATION DETAILS
|
Name : |
MNM COMPOSITES PRIVATE LIMITED |
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Registered
Office : |
Unit No.3001, Bhandup Industrial Estate, Appannalal Silk Compound, L B
S Marg, Bhandup West, Mumbai – 400078, Maharashtra |
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Country : |
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Financials (as
on) : |
31.03.2014 |
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Date of Incorporation
: |
28.03.2005 |
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Com. Reg. No.: |
11-152221 |
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Capital
Investment / Paid-up Capital : |
Rs.0.100 Million |
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CIN No.: [Company Identification
No.] |
U24295MH2005PTC152221 |
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|
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TAN No.: [Tax Deduction & Collection
Account No.] |
MUMM26611E |
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PAN No.: [Permanent Account No.] |
AAECM2272M |
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Legal Form : |
Private Limited Liability Company. |
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Line of Business
: |
Manufacturing and Dealing in Self Adhesive Tapes, Insulation Tapes, Thermal
Tapes and Labels. |
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|
No. of Employees
: |
09 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (30) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
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Maximum Credit Limit : |
USD |
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Status : |
Small Company |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is a small company in its field. Its scales of activities are
limited. The rating is constrained on account of company’s small scales of
business operation and small net worth of the company. However, trade relations are reported to be fair. Business is active.
Payment terms are slow but correct. The company can be considered for small business dealings with some
caution. |
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 |
|
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
31-03-2014.
INFORMATION PARTED BY (GENERAL DETAILS)
|
Name : |
Mr. Surendran Kunhikannan Nair |
|
Designation : |
Director |
|
Contact No.: |
91-9821081040 |
|
Date : |
19.03.2015 |
LOCATIONS
|
Registered Office : |
Unit No.3001, Bhandup Industrial Estate, Appannalal Silk Compound, L B
S Marg, Bhandup West, Mumbai – 400078, Maharashtra, India |
|
Tel. No.: |
91-22-25963289 |
|
Mobile No.: |
91-9821081040 (Mr. Surendran) |
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Fax No.: |
91-22-25961788 |
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E-Mail : |
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Website : |
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Area: |
400 Sq ft |
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Location: |
Owned |
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Administrative
Office: |
3034, Bhandup Industrial Estate, Pannalal Compound, L.B.S. Marg,
Bhandup (W), Mumbai – 400078, Maharashtra, India |
|
Tel. No.: |
91-22-25961788/ 25963289/ 65735604/ 65735605/ 25961790 |
|
Fax No.: |
91-22-25961223 |
DIRECTORS
As on 26.09.2014
|
Name : |
Mr. Surendran Kunhikannan Nair |
|
Designation : |
Director |
|
Address : |
A/703, Sagar Garden, L.B.S. Marg, Mulund (West), Mumbai - 400080
Maharashtra, India |
|
Date of Birth/Age : |
01.09.1964 |
|
Date of Appointment : |
28.03.2005 |
|
DIN No.: |
00156901 |
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Election Commission identity Card No.: |
MT/07/052/0612788 |
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|
|
|
Name : |
Mr. Subramaniam Shankar Iyer |
|
Designation : |
Director |
|
Address : |
A/603, Sagar Garden, .B.S. Marg, Mulund (West), Mumbai - 400080
Maharashtra, India |
|
Date of Birth/Age : |
22.06.1964 |
|
Date of Appointment : |
28.03.2005 |
|
DIN No.: |
00191625 |
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|
|
|
Name : |
Mr. Mahesh Indulal Mehta |
|
Designation : |
Director |
|
Address : |
46, Sharda Sadan, 11, S.A. Brelvi Road, Fort, Mumbai - 400001
Maharashtra, India |
|
Date of Birth/Age : |
05.04.1955 |
|
Date of Appointment : |
28.03.2005 |
|
DIN No.: |
00191524 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 26.09.2014
|
Name of
Shareholders |
No of
Shares |
%age
holding |
|
Surendran Kunhikannan Nair |
3334 |
33.34 |
|
Mahesh Indulal Mehta |
3333 |
33.33 |
|
Subramaniam Shankar Iyer |
3333 |
33.33 |
|
Total
|
10000 |
100.00 |
Equity Share Break up (Percentage of Total Equity)
As on 26.09.2014
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing and Dealing in Self Adhesive Tapes, Insulation Tapes,
Thermal Tapes and Labels. |
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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 : |
Europe |
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Imports : |
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Products : |
Raw Material |
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Countries : |
Europe |
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Terms : |
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Selling : |
Cash and Credit |
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Purchasing : |
Cash and Credit |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
Wholesalers and Retailers
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No. of Employees : |
09 (Approximately) |
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Bankers : |
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Facilities : |
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Auditors : |
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Name : |
R. J. Luthia and Associates Chartered Accountant |
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Address : |
610/611, Parmeshwari Centre, Dalmia Estatre Above Galaxy Motors, of
LBS Marg, Mulund (West), Mumbai – 400080, Maharashtra, India |
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Tel No.: |
91-22-25641553/ 25694989 |
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Fax No.: |
91-22-25922236 |
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Email : |
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PAN N Income-tax PAN of auditor or auditor's firm : |
AAAPL1267C |
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Memberships : |
-- |
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Collaborators : |
-- |
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Parties
where Control Exists: |
·
Knowell Corporation All Branches ·
Safex Systems ·
H K International |
CAPITAL STRUCTURE
As on 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000 |
Equity Shares |
Rs.10/- |
Rs.0.100 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000 |
Equity Shares |
Rs.10/- |
Rs.0.100 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 |
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|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
0.100 |
0.100 |
0.100 |
|
(b) Reserves & Surplus |
6.459 |
6.095 |
5.361 |
|
(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) |
6.559 |
6.195 |
5.461 |
|
|
|
|
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(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
0.122 |
|
(b) Deferred tax liabilities
(Net) |
0.672 |
0.729 |
0.881 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total
Non-current Liabilities (3) |
0.672 |
0.729 |
1.003 |
|
|
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|
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(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
10.230 |
8.056 |
8.104 |
|
(b) Trade payables |
7.028 |
4.216 |
2.945 |
|
(c) Other current liabilities |
5.919 |
4.829 |
4.407 |
|
(d) Short-term provisions |
0.099 |
0.099 |
0.731 |
|
Total
Current Liabilities (4) |
23.276 |
17.200 |
16.187 |
|
|
|
|
|
|
TOTAL |
30.507 |
24.124 |
22.651 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
11.467 |
9.399 |
9.630 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(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 |
0.100 |
0.100 |
0.100 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
0.175 |
0.175 |
0.175 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
11.742 |
9.674 |
9.905 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
6.152 |
4.551 |
2.233 |
|
(c) Trade receivables |
11.290 |
8.345 |
8.990 |
|
(d) Cash and cash equivalents |
0.905 |
1.126 |
1.045 |
|
(e) Short-term loans and
advances |
0.418 |
0.428 |
0.478 |
|
(f) Other current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
18.765 |
14.450 |
12.746 |
|
|
|
|
|
|
TOTAL |
30.507 |
24.124 |
22.651 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Income |
30.299 |
23.693 |
23.653 |
|
|
Other Income |
0.177 |
(0.146) |
1.997 |
|
|
TOTAL
(A) |
30.476 |
23.547 |
25.650 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
20.407 |
15.621 |
13.679 |
|
|
Employee Benefit Expenses |
3.019 |
2.360 |
2.008 |
|
|
Other Expenses |
4.456 |
2.934 |
4.443 |
|
|
TOTAL
(B) |
27.882 |
20.915 |
20.130 |
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (C) |
2.594 |
2.632 |
5.520 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
0.718 |
0.525 |
0.402 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
1.876 |
2.107 |
5.118 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION (F) |
1.345 |
1.205 |
0.872 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F) (G) |
0.531 |
0.902 |
4.246 |
|
|
|
|
|
|
|
Less |
TAX
(I) |
0.165 |
0.168 |
1.495 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-I)
(J) |
0.366 |
0.734 |
2.751 |
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
6.095 |
5.361 |
2.61 |
|
|
|
|
|
|
|
Less |
EXCESS MAT CREDIT WRITTEN OFF |
0.002 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
Balance
Carried to the B/S ) |
6.459 |
6.095 |
5.361 |
|
|
|
|
|
|
|
|
EARNINGS
IN FOREIGN CURRENCY |
0.967 |
0.156 |
0.000 |
|
|
|
|
|
|
|
|
IMPORTS
VALUE |
1.890 |
1.794 |
2.718 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
36.59 |
73.46 |
275.14 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
1.21 |
3.10 |
11.63 |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
8.56 |
11.11 |
23.34 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.75 |
3.75 |
18.83 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.08 |
0.15 |
0.78 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
1.56 |
1.30 |
1.51 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.81 |
0.84 |
0.79 |
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 |
0.100 |
0.100 |
0.100 |
|
Reserves & Surplus |
5.361 |
6.095 |
6.459 |
|
Net
worth |
5.461 |
6.195 |
6.559 |
|
|
|
|
|
|
long-term borrowings |
0.122 |
0.000 |
0.000 |
|
Short term borrowings |
8.104 |
8.056 |
10.230 |
|
Total
borrowings |
8.226 |
8.056 |
10.230 |
|
Debt/Equity
ratio |
1.506 |
1.300 |
1.560 |
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 |
23.653 |
23.693 |
30.299 |
|
|
|
0.169 |
27.882 |
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 |
23.653 |
23.693 |
30.299 |
|
Profit |
2.751 |
0.734 |
0.366 |
|
|
11.63% |
3.10% |
1.21% |
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 |
No |
|
18] |
Major customers |
No |
|
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 |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
No |
BACKGROUND
The Company was incorporated
on March 28th, 2005. The Company is principally engaged in the business of
Manufacturing and dealing in self-adhesive tapes, insulation tapes, thermal
tapes and labels.
PERFORMANCE OF THE COMPANY
Inspite of overall slow down in the industry, the company could manage achieve a growth of about 28% in the turnover as compared with previous year. The turnover of sales stood at Rs 30.299 Million (Previous Year Rs. Rs.23.693 Million). Due to overall increase in admin and other selling/distribution overheads, the company could able to earn net profit of Rs 3,65,890 /- (Previous Year Rs 0.735 Million ) after provision for taxation Rs.0.165 Million (Previous Year Rs. 0.168 Million).The directors are hopeful of better performance in the ensuing year.
UNSECURED LOAN
|
PARTICULARS |
31.03.2014 (Rs.
in Million) |
31.03.2013 (Rs.
in Million) |
|
Short-term
borrowings |
|
|
|
Loan from related parties |
6.367 |
5.590 |
|
Total |
6.367 |
5.590 |
INDEX
OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION
|
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
10118507 |
28/09/2010 * |
5,000,000.00 |
THE BHARAT CO-OPERATIVE BANK (MUMBAI) LIMITED |
MULUND (EAST) BRANCH,
NEELAM NAGAR,BUILDING NO. 7, , GAVANPADA, MULUND (EAST), MUMBAI, MUMBAI,
MAHAR |
A96747134 |
|
2 |
10118508 |
22/07/2008 |
1,400,000.00 |
THE BHARAT CO-OPERATIVE BANK (MUMBAI) LIMITED |
MULUND BRANCH, BLDG.
NO. 7, GAVANPADA, MULUND (E), |
A44036366 |
* Date of charge modification
FIXED ASSETS:
· Land
· Plant and Machinery
· Fire Extinguisher
· Machine
· Air Conditioner
· Electrical Installation
· Office Equipment
· Furniture and Fixture
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.62.29 |
|
|
1 |
Rs.93.02 |
|
Euro |
1 |
Rs.67.36 |
INFORMATION DETAILS
|
Information
Gathered by : |
REK |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
KVT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILITY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
|
30 |
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.