MIRA INFORM REPORT
|
Report No. : |
311801 |
|
Report Date : |
24.03.2015 |
IDENTIFICATION DETAILS
|
Name : |
TEX YEAR INDUSTRIAL ADHESIVES PRIVATE LIMITED (w.e.f.11.09.2013) |
|
|
|
|
Formerly Known
As : |
INDUSTRIAL ADHESIVES PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
704 D Square, Opposite CNMS School, Dadabhai Road, Vile Parle (West),
Mumbai-400056, Maharashtra |
|
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|
|
Country : |
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|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
01.09.2008 |
|
|
|
|
Com. Reg. No.: |
11-186360 |
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|
|
|
Capital
Investment / Paid-up Capital : |
Rs.0.900 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U25199MH2008PTC186360 |
|
|
|
|
TAN No.: [Tax Deduction & Collection
Account No.] |
MUMI08525G |
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|
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PAN No.: [Permanent Account No.] |
AABCI9489B |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer and Exporter of hot melt adhesives, PUR hot melt adhesives,
hot melt adhesives tape, polyurethane hot melt |
|
|
|
|
No. of Employees
: |
15 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (30) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 18000 |
|
|
|
|
Status : |
Moderate |
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Payment Behaviour : |
Slow But Correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate track record. The company has taken huge external borrowings to financial its
activities which may act as a threat to its liquidity. However, trade relations are reported to be fair. Business is active.
Payment terms are reported to be slow but correct. The company can be considered for 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
|
Name : |
Mr. Anil Goel |
|
Designation : |
Accounts Manager |
|
Contact No.: |
91-22-26775999 |
|
Date : |
18.03.2015 |
LOCATIONS
|
Registered Office : |
704 D Square, Opposite CNMS School, Dadabhai Road, Vile Parle (West),
Mumbai-400056, Maharashtra, India |
|
Tel. No.: |
91-22-26775999 |
|
Fax No.: |
Not Available |
|
E-Mail : |
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|
Website : |
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|
Location : |
Rented |
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|
Factory : |
K-39, M.I.D.C. Tarapur, Boisar, Thane – 401506, Maharashtra, India |
DIRECTORS
AS ON 30.09.2014
|
Name : |
Mr. Pranav Kirti Kumar Mehta |
|
Designation : |
Director |
|
Address : |
A-101, Bhagyodaya Building, Sarijini Road, Vile Parle (West), Mumbai –
400056, Maharashtra, India |
|
Date of Birth/Age : |
11.12.1982 |
|
Date of Appointment : |
01.09.2008 |
|
DIN No.: |
02242995 |
|
Other Directorship: |
|
|
S.No. |
CIN/LLPIN |
Name of the
Company/ LLP |
Current
designation of the Director/ Designated Partner |
Date of
appointment at current designation |
Original date of
appointment |
Company/ LLP
Status |
Defaulting
status |
|
1 |
U25199MH2008PTC186360 |
TEX YEAR
INDUSTRIAL ADHESIVES PRIVATE LIMITED |
Director |
01/09/2008 |
01/09/2008 |
Active |
NO |
|
2 |
U24100MH1992PTC067870 |
ANCHOR ADHESIVES
PRIVATE LIMITED |
Director |
01/07/2010 |
01/07/2010 |
Active |
NO |
|
Name : |
Mr. Mahendra Ramniklal Doshi |
|
Designation : |
Director |
|
Address : |
157, Narayan Sadan, 1st Floor No.4, Narayan Sadan Road,
S.P.M 16, Vile Parle (East), Mumbai – 400016, Maharashtra, India |
|
Date of Birth/Age : |
12.11.1960 |
|
Date of Appointment : |
01.09.2008 |
|
DIN No.: |
02243023 |
|
Other Directorship: |
|
|
S.No. |
CIN/LLPIN |
Name of the
Company/ LLP |
Current
designation of the Director/ Designated Partner |
Date of
appointment at current designation |
Original date of
appointment |
Company/ LLP
Status |
Defaulting
status |
|
1 |
U25199MH2008PTC186360 |
TEX YEAR
INDUSTRIAL ADHESIVES PRIVATE LIMITED |
Director |
01/09/2008 |
01/09/2008 |
Active |
NO |
|
Name : |
Cheng Hua Won |
|
Designation : |
Additional Director Director |
|
Address : |
18F 5, No.8 Lane No 22, Baosheng Road, Neighborhood 33, Baoan Village,
New Taipei City, 234, Yonghe District, Taiwan, Province of China 234 |
|
Date of Appointment : |
03.03.2014 |
|
DIN No.: |
06821161 |
|
Other Directorship: |
|
|
S.No. |
CIN/LLPIN |
Name of the
Company/ LLP |
Current
designation of the Director/ Designated Partner |
Date of
appointment at current designation |
Original date of
appointment |
Company/ LLP
Status |
Defaulting
status |
|
1 |
U25199MH2008PTC186360 |
TEX YEAR
INDUSTRIAL ADHESIVES PRIVATE LIMITED |
Additional
director |
03/03/2014 |
03/03/2014 |
Active |
NO |
|
Name : |
Tu Shin Tsai |
|
Designation : |
Additional Director Director |
|
Address : |
5F No 148 Section 2, Chengde Road, Taipei City 103, Datong District,
Taiwan, Province of China 103 |
|
Date of Appointment : |
03.03.2014 |
|
DIN No.: |
06821165 |
|
Other Directorship: |
|
|
S.No. |
CIN/LLPIN |
Name of the
Company/ LLP |
Current designation
of the Director/ Designated Partner |
Date of
appointment at current designation |
Original date of
appointment |
Company/ LLP
Status |
Defaulting
status |
|
1 |
U25199MH2008PTC186360 |
TEX YEAR
INDUSTRIAL ADHESIVES PRIVATE LIMITED |
Additional
director |
03/03/2014 |
03/03/2014 |
Active |
NO |
KEY EXECUTIVES
|
Name : |
Mr. Anil Goel |
|
Designation : |
Accounts Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2014
|
Name
of Shareholders |
No.
of Shares |
%age |
|
Pranav Kirti Kumar Mehta |
36,315 |
25.00 |
|
Mahendra Ramniklal Doshi |
36,315 |
25.00 |
|
tex Year Industries Inc., Taiwan |
72,630 |
50.00 |
|
TOTAL |
145,260 |
100.00 |
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 |
50.00 |
|
Directors or relatives of Directors |
50.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of hot melt adhesives, PUR hot melt
adhesives, hot melt adhesives tape, polyurethane hot melt |
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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 : |
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Countries : |
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Imports : |
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Products : |
Raw Material |
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Countries : |
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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 : |
15 (Approximately) |
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Bankers : |
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Facilities : |
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Banking
Relations : |
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Auditors : |
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|
Name : |
R J Parekh And Associates Chartered Accountants |
|
Address : |
145 D Aruna Niwas, Arvind Colony, Irla, S V Road, Vile Parle (West),
Mumbai-400056, Maharashtra, India |
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Tel. No.: |
91-22-32519525 / 26700617 |
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Mobile No.: |
91-9820167170 |
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E-Mail : |
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PAN N Income-tax PAN of auditor or auditor's firm : |
AAEPP1093L |
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Memberships : |
-- |
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Collaborators : |
-- |
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Associates : |
Tex Year Industries Inc |
CAPITAL STRUCTURE
AS ON 31.03.2014
Authorised Capital : Rs. 10.000 Millions
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
90000 |
Equity Shares |
Rs.10/- each |
Rs. 0.900
Million |
|
|
|
|
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AS ON 30.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
250000 |
Equity Shares |
Rs.10/- each |
Rs. 2.500 Millions |
|
|
|
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
145260 |
Equity Shares |
Rs.10/- each |
Rs. 1.453
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
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 |
0.900 |
0.900 |
0.900 |
|
(b) Reserves & Surplus |
5.550 |
3.021 |
1.648 |
|
(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) |
6.450 |
3.921 |
2.548 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
17.490 |
11.741 |
11.693 |
|
(b) Deferred tax liabilities
(Net) |
0.104 |
0.111 |
0.145 |
|
(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) |
17.594 |
11.852 |
11.838 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
6.652 |
9.506 |
6.321 |
|
(b) Trade payables |
46.073 |
31.833 |
19.122 |
|
(c) Other current liabilities |
1.012 |
0.976 |
1.143 |
|
(d) Short-term provisions |
0.683 |
0.502 |
0.741 |
|
Total
Current Liabilities (4) |
54.420 |
42.817 |
27.327 |
|
|
|
|
|
|
TOTAL |
78.464 |
58.590 |
41.713 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
4.810 |
5.528 |
5.784 |
|
(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 |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and
Advances |
0.652 |
0.126 |
0.000 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.124 |
|
Total
Non-Current Assets |
5.462 |
5.654 |
5.908 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
22.597 |
13.417 |
8.934 |
|
(c) Trade receivables |
44.734 |
37.285 |
22.763 |
|
(d) Cash and cash equivalents |
0.112 |
0.597 |
0.283 |
|
(e) Short-term loans and
advances |
5.559 |
1.637 |
3.825 |
|
(f) Other current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
73.002 |
52.936 |
35.805 |
|
|
|
|
|
|
TOTAL |
78.464 |
58.590 |
41.713 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Income |
173.117 |
|
|
|
|
Other Income |
|
|
|
|
|
TOTAL |
173.117 |
133.485 |
103.439 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Material Consumed |
|
|
|
|
|
Trading Expenses |
|
|
|
|
|
Manufacturing Expenses |
|
|
|
|
|
Marketing and Service Expenses |
|
|
|
|
|
TOTAL
|
168.754 |
130.858 |
101.534 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
4.363 |
2.627 |
1.905 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION |
0.789 |
0.842 |
0.929 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
3.574 |
1.785 |
0.976 |
|
|
|
|
|
|
|
Less |
TAX |
1.045 |
0.412 |
0.294 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
2.529 |
1.373 |
0.682 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
28.10 |
15.26 |
7.58 |
Expected Sales (2014-2015) : Rs. 240.000 Millions
The above information has been parted / denied by Mr. Anil Goel
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
Return on Total Assets |
(%) |
4.55 |
3.05 |
2.34 |
|
|
|
|
|
|
|
|
|
Return on Investment (ROI) |
|
0.55 |
0.46 |
0.38 |
|
|
|
|
|
|
|
|
|
Debt Equity Ratio |
|
3.74 |
5.42 |
7.07 |
|
|
|
|
|
|
|
|
|
Current Ratio |
|
1.34 |
1.24 |
1.31 |
|
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(INR
in Mlns.) |
(INR
in Mlns.) |
(INR
in Mlns.) |
|
Share Capital |
0.900 |
0.900 |
0.900 |
|
Reserves & Surplus |
1.648 |
3.021 |
5.550 |
|
Net
worth |
2.548 |
3.921 |
6.450 |
|
|
|
|
|
|
long-term borrowings |
11.693 |
11.741 |
17.490 |
|
Short term borrowings |
6.321 |
9.506 |
6.652 |
|
Total
borrowings |
18.014 |
21.247 |
24.142 |
|
Debt/Equity
ratio |
7.070 |
5.419 |
3.743 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(INR
in Mlns) |
(INR
in Mlns) |
(INR
in Mlns) |
|
Total Income |
103.439 |
133.485 |
173.117 |
|
|
|
29.047 |
29.690 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(INR) |
(INR) |
(INR) |
|
Total Income |
103.439 |
133.485 |
173.117 |
|
Profit |
0.682 |
1.373 |
2.529 |
|
|
0.66% |
1.03% |
1.46% |
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 |
Yes |
|
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 |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
No |
UNSECURED LOAN
|
Unsecured Loan |
31.03.2014 (Rs.
in Millions) |
31.03.2013 (Rs.
in Millions) |
|
Long-term
Borrowings |
|
|
|
Loans and advances from Related Parties |
16.970 |
10.370 |
|
|
|
|
|
Total |
16.970 |
10.370 |
OPERATIONS AND
OUTLOOK
During the year the company achieved sales turnover of Rs. 172.900 Millions
and incurred a net profit after tax of Rs. 2.529 Millions. The company has work
excellent at the factory and they hope during the current year the performance
of the company would be very excellent
FIXED ASSETS
·
Land
·
Industrial Plot
·
Building
·
Plant and Machinery
·
Furniture and Fixtures
·
Vehicles
·
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CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts, India Prisons Service,
Interpol, etc.
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.62.28 |
|
|
1 |
Rs.93.02 |
|
Euro |
1 |
Rs.67.36 |
INFORMATION DETAILS
|
Information
Gathered by : |
RKH |
|
|
|
|
Analysis Done by
: |
SUM |
|
|
|
|
Report Prepared
by : |
DPT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILITY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
2 |
|
--RESERVES |
1~10 |
4 |
|
--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 |
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 |
|
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.