MIRA INFORM REPORT
|
Report No. : |
320574 |
|
Report Date : |
12.05.2015 |
IDENTIFICATION DETAILS
|
Name : |
HAWE HYDRAULICS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
No.68, Industrial Suburb, 2nd Stage, Yeshwanthpur, Bangalore – 560022, Karnataka |
|
Tel. No.: |
91-80-41952000 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.12.2013 |
|
|
|
|
Date of
Incorporation : |
05.02.2001 |
|
|
|
|
Com. Reg. No.: |
08-028563 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.34.634 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U29119KA2001PTC028563 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
Not Available |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
The company is engaged in manufacturing of hydraulic components and systems like piston pumps, valves, pressure switches and power packs. |
|
|
|
|
No. of Employees
: |
30 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (46) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track. Trade relations are fair. Business is active. Payment terms are
reported as usually correct. The company can be considered for 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 |
|
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. Shashi Kiran |
|
Designation : |
Sales Marketing Engineers |
|
Contact No.: |
91-80-41952022 |
|
Date : |
04.05.2015 |
LOCATIONS
|
Registered Office / Factory: |
No.68, Industrial Suburb, 2nd Stage, Yeshwanthpur, Bangalore – 560022, Karnataka, India |
|
Tel. No.: |
91-80-41952000 |
|
Fax No.: |
91-80-41952001 |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
DIRECTORS
AS ON 25.03.2014
|
Name : |
Wolfgang Dieter Sochor |
|
Designation : |
Director |
|
Address : |
Geltnachweg 11,, Stoetten am Auerberg, 87675, Germany |
|
Date of Birth/Age : |
20.07.1963 |
|
Date of Appointment : |
13.10.2003 |
|
DIN No.: |
00798562 |
|
|
|
|
Name : |
Karl Alexander Haeusgen |
|
Designation : |
Director |
|
Address : |
Kaiserstrasse 8, Munich, 80801, Germany |
|
Date of Birth/Age : |
04.01.1966 |
|
Date of Appointment : |
05.02.2001 |
|
DIN No.: |
00939568 |
|
|
|
|
Name : |
Lars Christian Lindell |
|
Designation : |
Director |
|
Address : |
Alpenstrasse 16, Anzing, 85646, Germany |
|
Date of Birth/Age : |
23.12.1950 |
|
Date of Appointment : |
09.07.2010 |
|
DIN No.: |
03174890 |
|
|
|
|
Name : |
Markus Johannes Unterstein |
|
Designation : |
Director |
|
Address : |
84518 garching a.d., Alz Hub 68, garching, 089, Germany |
|
Date of Birth/Age : |
20.07.1977 |
|
Date of Appointment : |
28.08.2013 |
|
DIN No.: |
06662660 |
|
|
|
|
Name : |
Wolfgang Moll |
|
Designation : |
Managing director |
|
Address : |
Tulpenweg 12,, 53783, Eitorf, 53783, Germany |
|
Date of Appointment : |
23.06.2014 |
|
DIN No.: |
06871781 |
|
|
|
|
Name : |
Cynthia Richard |
|
Designation : |
Additional director |
|
Address : |
No 792, 14th Main 22nd Cross, Judicial Layout, Yelahanka, Bangalore - 560065, Karnataka, India |
|
Date of Appointment : |
13.10.2014 |
|
DIN No.: |
06949919 |
KEY EXECUTIVES
|
Name : |
Mr. Shashi Kiran |
|
Designation : |
Sales Marketing Engineers |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 25.03.2014
|
Names of Shareholders |
|
No. of Shares |
|
HAWE Holding GmbH, Germany |
|
346339 |
|
HAWE Hydraulik SE, Germany |
|
1 |
|
|
|
|
|
Total |
|
346340 |
Equity Share Break up (Percentage of Total Equity)
AS ON 25.03.2014
|
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 |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
The company is engaged in manufacturing of hydraulic components and systems like piston pumps, valves, pressure switches and power packs. |
|
|
|
|
Products : |
Not Available |
|
|
|
|
Brand Names : |
Not Available |
|
|
|
|
Agencies Held : |
Not Available |
|
|
|
|
Exports : |
Not Available |
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|
|
|
Imports : |
|
|
Products : |
Raw Material |
|
Countries : |
Germany |
|
|
|
|
Terms : |
|
|
Selling : |
Cash and Credit |
|
|
|
|
Purchasing : |
Cash and Credit |
PRODUCTION STATUS : NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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No. of Employees : |
30 (Approximately) |
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Bankers : |
|
|
Auditors : |
|
|
Name : |
BSR and Company LLP Chartered Accountants |
|
Address : |
Maruthi Infotech Centre, 11-12/1, Inner Ring Road, Koramangala,
Bangalore – 560071, Karnataka, India |
|
PAN N Income-tax PAN of auditor or auditor's firm : |
AAAFB9852F |
|
|
|
|
Memberships : |
-- |
|
|
|
|
Collaborators : |
-- |
|
|
|
|
Holding Company : |
HAWE Holding GmbH |
|
|
|
|
Ultimate Holding
Company : |
HAWE Hydraulik SE, Germany |
|
|
|
|
Fellow Subsidiary
Companies : |
|
CAPITAL STRUCTURE
AS ON 31.12.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
500,000 |
Equity Shares |
Rs.100/- each |
Rs.50.000 Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
346,340 |
Equity Shares |
Rs.100/- each |
Rs.34.634
Million |
FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.12.2013 |
31.12.2012 |
31.12.2011 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
34.634 |
34.634 |
34.634 |
|
(b) Reserves &
Surplus |
86.084 |
100.265 |
76.674 |
|
(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) |
120.718 |
134.899 |
111.308 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax
liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
0.689 |
1.163 |
0.000 |
|
(d) long-term provisions |
4.011 |
3.702 |
3.335 |
|
Total Non-current Liabilities
(3) |
4.700 |
4.865 |
3.335 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade payables |
19.205 |
15.166 |
67.027 |
|
(c) Other current
liabilities |
11.207 |
28.081 |
23.852 |
|
(d) Short-term provisions |
45.778 |
17.168 |
17.052 |
|
Total Current Liabilities
(4) |
76.190 |
60.415 |
107.931 |
|
|
|
|
|
|
TOTAL |
201.608 |
200.179 |
222.574 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
34.679 |
42.005 |
32.723 |
|
(ii) Intangible Assets |
0.379 |
0.821 |
0.509 |
|
(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) |
1.751 |
0.940 |
2.138 |
|
(d) Long-term Loan and Advances |
19.016 |
18.681 |
14.687 |
|
(e) Other Non-current
assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
55.825 |
62.447 |
50.057 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
20.312 |
7.852 |
0.000 |
|
(b) Inventories |
42.319 |
54.664 |
57.259 |
|
(c) Trade receivables |
46.433 |
28.825 |
85.204 |
|
(d) Cash and cash
equivalents |
33.777 |
34.803 |
15.066 |
|
(e) Short-term loans and
advances |
1.997 |
4.381 |
11.070 |
|
(f) Other current assets |
0.945 |
7.207 |
3.918 |
|
Total Current Assets |
145.783 |
137.732 |
172.517 |
|
|
|
|
|
|
TOTAL |
201.608 |
200.179 |
222.574 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.12.2013 |
31.12.2012 |
31.12.2011 |
|
|
SALES |
|
|
|
|
|
Income |
|
260.533 |
|
|
|
Other Income |
|
|
|
|
|
TOTAL (A) |
198.451 |
260.533 |
270.641 |
|
|
|
|
|
|
|
|
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
93.065 |
141.641 |
151.850 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
1.870 |
1.386 |
(3.391) |
|
|
Employees benefits
expense |
34.664 |
33.703 |
34.467 |
|
|
Other expenses |
44.439 |
41.830 |
36.193 |
|
|
TOTAL (B) |
174.038 |
218.560 |
219.119 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION (C) |
24.413 |
41.973 |
51.522 |
|
|
|
|
|
|
|
|
FINANCIAL EXPENSES (D) |
0.000 |
0.006 |
0.140 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
24.413 |
41.967 |
51.382 |
|
|
|
|
|
|
|
|
DEPRECIATION/
AMORTISATION (F) |
8.084 |
7.480 |
6.886 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX (E-F) (G) |
16.327 |
34.484 |
44.494 |
|
|
|
|
|
|
|
|
TAX (H) |
5.386 |
10.894 |
15.756 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
(G-H) (I) |
10.941 |
23.590 |
28.738 |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
78.199 |
100.200 |
110.162 |
|
|
TOTAL EARNINGS |
78.199 |
100.200 |
110.162 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
5.980 |
28.442 |
24.602 |
|
|
Components and Stores
parts |
54.802 |
87.513 |
150.885 |
|
|
TOTAL IMPORTS |
60.782 |
115.955 |
175.487 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (Rs.) |
31.59 |
68.11 |
82.98 |
KEY RATIOS
|
PARTICULARS |
|
31.12.2013 |
31.12.2012 |
31.12.2011 |
|
Net Profit Margin (PAT / Sales) |
(%) |
5.51 |
9.05 |
10.62 |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
12.30 |
16.11 |
19.04 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
8.17 |
17.31 |
20.18 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.14 |
0.26 |
0.40 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.91 |
2.28 |
1.60 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particular |
31.12.2011 |
31.12.2012 |
31.12.2013 |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Share Capital |
34.634 |
34.634 |
34.634 |
|
Reserves & Surplus |
76.674 |
100.265 |
86.084 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net worth |
111.308 |
134.899 |
120.718 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Total borrowings |
0.000 |
0.000 |
0.000 |
|
Debt/Equity ratio |
0.000 |
0.000 |
0.000 |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.12.2011 |
31.12.2012 |
31.12.2013 |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Total Income |
270.641 |
260.533 |
198.451 |
|
|
|
(3.735) |
(23.829) |
NET PROFIT MARGIN
|
Net Profit Margin |
31.12.2011 |
31.12.2012 |
31.12.2013 |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Total Income |
270.641 |
260.533 |
198.451 |
|
Profit |
28.738 |
23.590 |
10.941 |
|
|
10.62% |
9.05% |
5.51% |
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 |
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 |
No |
|
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 |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
90385068 |
31/01/2003 |
38,000.00 |
INDIAN BANK |
SADASHIVANAGAR BRANCH, BANGALORE, KARNATAKA, INDIA |
- |
|
2 |
90381176 |
28/11/1986 |
1,158,800.00 |
CENTRAL BANK OF INDIA |
DR. D.N. ROAD, FORT, MUMBAI, MAHARASHTRA, INDIA |
- |
BUSINESS AND OPERATION
The total income of the company for the year
was Rs.198.451 Million as compared to a turnover of Rs.2650.533 Million for the
previous year. The company recorded a profit before tax of Rs.16.327 Million
for the financial year ended 31.12.2013. Some of the major factors which
affected the performance of the company were, steep depreciation in the value
of the rupee vis-à-vis the Euro, economic slowdown in India and stoppage of
production and procurement activity by major customers of the company. The
Board is hopeful that the company would perform better in the current financial
year.
FIXED ASSETS
- Plant and Machinery
- Computer Equipment
- Computer Software
- Furniture and Fitting
- Office Equipment
- Motor Vehicles
- Electrical Installation
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.63.85 |
|
|
1 |
Rs.98.47 |
|
Euro |
1 |
Rs.71.51 |
INFORMATION DETAILS
|
Information
Gathered by : |
RKH |
|
|
|
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
SNT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILITY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
|
46 |
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.