MIRA INFORM REPORT
|
Report No. : |
348057 |
|
Report Date : |
03.11.2015 |
IDENTIFICATION DETAILS
|
Name : |
ARIHANT TILES AND MARBLES PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Village Amberi, N.H.No.8, Udaipur – 313001, Rajasthan |
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Mobile No.: |
91-9829042329 (Mr. Pradeep Modi) |
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|
Country : |
India |
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|
|
Financials (as
on) : |
31.03.2014 |
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|
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|
Date of
Incorporation : |
16.05.1984 |
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Com. Reg. No.: |
17-003001 |
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Capital
Investment / Paid-up Capital : |
Rs.4.105 Million |
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CIN No.: [Company Identification
No.] |
U14101RJ1984PTC003001 |
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IEC No.: |
Not Available |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
Not Available |
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|
Legal Form : |
Private Limited Liability Company |
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|
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Line of Business
: |
Subject is engaged in business of manufacturing and trading of Marble
/ Granite and also in transport business. |
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|
No. of Employees
: |
Information declined by the management. |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (43) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
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 incorporated it the year 1984. It
has satisfactory track. The rating takes into consideration the decent increase in sales
revenue base of the company along with fair profit margin in the year 2014.
Further, it has reported sufficient networth base along with comfortable debt
will. Trade relations are fair. Business is active. Payment terms are
reported to be usually correct. In view of aforesaid, the company can be considered for business
dealings with some cautions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
Long term Bank facilities : BB (Suspended) |
|
Rating Explanation |
Inadequate credit quality and high credit risk |
|
Date |
31.03.2014 |
|
Rating Agency Name |
CARE |
|
Rating |
Short term Bank facilities : A4 (Suspended) |
|
Rating Explanation |
Minimal degree of safety and very high credit risk. |
|
Date |
31.03.2014 |
Reason for suspended : The company has not
furnished the information required by CARE.
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
31-03-2015.
INFORMATION PARTED BY
|
Name : |
Mr. Pradeep Modi |
|
Designation : |
Director |
|
Contact No.: |
91-9829042329 |
|
Date : |
31.10.2015 |
LOCATIONS
|
Registered Office : |
Village Amberi, N.H.No.8, Udaipur – 313001, Rajasthan, India |
|
Tel. No.: |
91-294-2440329 |
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Mobile No.: |
91-9829042329 (Mr. Pradeep Modi) |
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Fax No.: |
91-294-2440242 |
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E-Mail : |
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|
Website : |
DIRECTORS
AS ON 29.09.2014
|
Name : |
Mukesh Modi |
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Designation : |
Managing director |
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Address : |
9A-Pologround, Udaipur - 313001, Rajasthan, INDIA |
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Date of Birth/Age : |
30.12.1959 |
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Date of Appointment : |
16.05.1984 |
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DIN No.: |
00616858 |
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Other Directorship
:
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|
Name : |
Pradeep Modi |
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|
Designation : |
Director |
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Address : |
9A, Polo Ground, Udaipur - 313001, Rajasthan, India |
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Date of Birth/Age : |
30.07.1963 |
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Date of Appointment : |
23.09.2009 |
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DIN No.: |
00924535 |
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Other Directorship
:
|
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MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 29.09.2014
|
Names of Shareholders |
|
No. of Shares |
|
Mukesh Modi |
|
988 |
|
Manju Modi |
|
331 |
|
Master Bittu (Devansh) |
|
23 |
|
Kamala Modi |
|
837 |
|
Pradeep Modi |
|
804 |
|
Kavita Modi |
|
134 |
|
Pradeep Modi and Sons HUF |
|
420 |
|
Praveen Modi |
|
260 |
|
Praveen Modi and Sons HUF |
|
510 |
|
B.S. Kachawa |
|
93 |
|
Vardhman Tiles Private Limited, India |
|
100 |
|
|
|
|
|
Total |
|
4500 |
Equity Share Break up (Percentage of Total Equity)
AS ON 29.09.2014
|
Category |
Percentage |
|
Bodies corporate |
2.00 |
|
Directors or relatives of Directors |
96.00 |
|
Other top fifty shareholders |
2.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in business of manufacturing and trading of Marble
/ Granite and also in transport business. |
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|
|
|
Products : |
Marble / Granite |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
Not Divulged |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
Information declined by the management. |
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Bankers : |
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Facilities : |
Long-term
Borrowings The Term Loan borrowing from Bank of Baroda are secured by mortgage of
factory land and building and by the way of first charge on all Fixed Assets
and current assets of the company in addition to specific assets created out
of term loan availed. The loans are
also guaranteed by the directors of the company and also by third party apart
from equitable mortgage of plot belonging to one of the director of the
company. Vehicle loans is secured by way of hypothecation of vehicle. Short-term borrowings Working Capital borrowings from bank are secured by hypothecation of
inventories and book debts, both present and future and by and also by
equitable mortgage of factory land and building in addition to first charge
on all fixed assets and current assets of the company. Working capital
borrowings from bans are also guaranteed by the directors of the company and
also by third part apart from equitable mortgage of plot belonging to one of
the directors of the company. |
|
Auditors : |
|
|
Name : |
M.S. Jhanwar and associates Chartered Accountants |
|
Address : |
229, Subhash Nagar, Udaipur – 313001, Rajasthan, India |
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PAN No.: |
AAIFM3192P |
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Tel. No.: |
91-294-2410890 |
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Mobile No.: |
91-9414168890 |
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Email : |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Associates/Subsidiaries : |
Not Available |
CAPITAL STRUCTURE
AS ON 29.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5,000 |
Equity Shares |
Rs.1000/- each |
Rs.5.000 Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4,500 |
Equity Shares |
Rs. 1000/-each |
Rs.4.500 Million |
FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
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|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
4.500 |
4.500 |
4.500 |
|
(b) Reserves &
Surplus |
166.410 |
151.818 |
137.172 |
|
(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) |
170.910 |
156.318 |
141.672 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
21.152 |
15.645 |
20.875 |
|
(b) Deferred tax liabilities
(Net) |
0.011 |
0.014 |
0.312 |
|
(c) Other long term
liabilities |
38.845 |
44.822 |
23.102 |
|
(d) long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
60.008 |
60.481 |
44.289 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
126.605 |
154.746 |
171.565 |
|
(b) Trade payables |
172.210 |
94.285 |
80.851 |
|
(c) Other current
liabilities |
11.975 |
19.078 |
17.124 |
|
(d) Short-term provisions |
1.371 |
0.375 |
0.363 |
|
Total Current Liabilities
(4) |
312.161 |
268.484 |
269.903 |
|
|
|
|
|
|
TOTAL |
543.079 |
485.283 |
455.864 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
73.315 |
77.801 |
86.735 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
2.291 |
0.000 |
1.615 |
|
(iv) Intangible assets
under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
0.890 |
0.890 |
0.890 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
12.918 |
12.858 |
1.669 |
|
(e) Other Non-current
assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
89.414 |
91.549 |
90.909 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
267.378 |
209.576 |
148.308 |
|
(c) Trade receivables |
112.650 |
104.316 |
110.492 |
|
(d) Cash and cash
equivalents |
4.343 |
1.986 |
4.843 |
|
(e) Short-term loans and
advances |
69.294 |
77.856 |
101.312 |
|
(f) Other current assets |
0.000 |
0.000 |
0.000 |
|
Total Current Assets |
453.665 |
393.734 |
364.955 |
|
|
|
|
|
|
TOTAL |
543.079 |
485.283 |
455.864 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Income |
|
|
|
|
|
Other Income |
|
|
|
|
|
TOTAL |
697.426 |
597.900 |
1025.243 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
TOTAL |
667.422 |
568.189 |
993.862 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION |
30.004 |
29.711 |
31.381 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
8.334 |
9.913 |
10.465 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
21.670 |
19.798 |
20.916 |
|
|
|
|
|
|
|
Less |
TAX |
7.078 |
5.152 |
7.878 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
14.592 |
14.646 |
13.038 |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
65.181 |
25.573 |
300.275 |
|
|
TOTAL EARNINGS |
65.181 |
25.573 |
300.275 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
117.722 |
130.641 |
154.794 |
|
|
Traded Goods |
146.271 |
67.129 |
86.979 |
|
|
Capital Goods |
1.393 |
0.000 |
0.000 |
|
|
TOTAL IMPORTS |
265.386 |
197.770 |
241.773 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (Rs.) |
|
|
|
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current Maturities of Long term debt |
NA |
NA |
NA |
|
Cash generated from operations |
11.945 |
24.253 |
NA |
|
Net cash flow from operating activities |
5.881 |
17.189 |
NA |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
2.09 |
2.45 |
1.27 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
4.01 |
4.09 |
4.61 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.13 |
0.13 |
0.15 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.86 |
1.09 |
1.36 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.45 |
1.47 |
1.35 |
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 |
4.500 |
4.500 |
4.500 |
|
Reserves & Surplus |
137.172 |
151.818 |
166.410 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net worth |
141.672 |
156.318 |
170.910 |
|
|
|
|
|
|
long-term borrowings |
20.875 |
15.645 |
21.152 |
|
Short term borrowings |
171.565 |
154.746 |
126.605 |
|
Total borrowings |
192.440 |
170.391 |
147.757 |
|
Debt/Equity ratio |
1.358 |
1.090 |
0.865 |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Total Income |
1025.243 |
597.900 |
697.426 |
|
|
|
(41.682) |
16.646 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Total Income |
1025.243 |
597.900 |
697.426 |
|
Profit |
13.038 |
14.646 |
14.592 |
|
|
1.27% |
2.45% |
2.09% |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
|
1 |
Year of establishment |
Yes |
|
2 |
Constitution of the entity -Incorporation
details |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
No |
|
5 |
Buyer visit details |
--- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
Yes |
|
8 |
Designation of contact person |
Yes |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
No |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
No |
|
16 |
No. of employees |
No |
|
17 |
Details of sister concerns |
No |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
Yes |
|
22 |
Conduct of the banking account |
-- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
Yes |
|
26 |
Turnover of firm for last three years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
No |
|
32 |
Litigations that the firm/promoter
involved in |
--- |
|
33 |
Market information |
--- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
UNSECURED LOAN
|
PARTICULARS |
31.03.2014 (Rs.
in Million) |
31.03.2013 (Rs.
in Million) |
|
Long-term
Borrowings |
|
|
|
Loans from others |
18.484 |
5.716 |
|
Short-term
borrowings |
|
|
|
From body corporates |
0.000 |
29.958 |
|
Total |
18.484 |
35.674 |
CORPORATE
INFORMATION
Subject was incorporated in India on 16.05.1984. The company is engaged
in business of manufacturing and trading of Marble / Granite and also in
transport business.
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
10563179 |
25/03/2015 |
214,300,000.00 |
BANK OF BARODA |
NDUSTRIAL AREA SUKHER, UDAIPUR, RAJASTHAN - 313001 |
C50554013 |
|
2 |
90066789 |
18/03/1998 |
2,200,000.00 |
BANK OF BARODA |
SUKHER, UDAIPUR, RAJASTHAN, INDIA |
- |
|
3 |
90067955 |
01/04/1994 |
5,130,000.00 |
RAJASTHAN FINANCIAL CORP. |
UDYOG BHAWAN, TILAK MARG, JAIPUR, RAJASTHAN, INDI |
- |
|
4 |
90066258 |
30/09/1988 |
3,109,000.00 |
RAJASTHAN FINANCIAL CORP. |
UDYOG BHAWAN, JAIPUR, RAJASTHAN, INDIA |
- |
|
5 |
90069485 |
01/10/1986 |
200,000.00 |
BANK OF INDIA |
FATEHPURA ROAD, BARDARPURA, UDAIPUR, RAJASTHAN, I |
- |
|
6 |
90066178 |
05/11/1985 |
2,820,000.00 |
RAJASTHAN FANINACIAL CORP. |
UDYOG BHAWAN, JAIPUR, RAJASTHAN, INDIA |
- |
|
7 |
90066174 |
08/10/1985 |
90,000.00 |
STATE BANK OF INDIA |
CITY BRANCH, BHUPALWADI, UDAIPUR, RAJASTHAN, INDI |
- |
FIXED ASSETS
- Land at Amberi
- Land at Jaldre
- Factory Buildings
- Office Buildings
- Furniture and Fixtures
- Plant and Machinery
- Vehicles
- Office Equipments and Computer
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.65.47 |
|
|
1 |
Rs.101.06 |
|
Euro |
1 |
Rs.72.22 |
INFORMATION DETAILS
|
Information
Gathered by : |
KMN |
|
|
|
|
Analysis Done by
: |
KIN |
|
|
|
|
Report Prepared
by : |
SNT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILITY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
43 |
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.