MIRA INFORM REPORT
|
Report No. : |
348053 |
|
Report Date : |
05.11.2015 |
IDENTIFICATION DETAILS
|
Name : |
MEHO HCP AIR SYSTEMS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
108, Raja Basanta Roy Road, Kolkata – 700029, West Bengal |
|
Tel. No.: |
91-33-2468960 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
25.01.2002 |
|
|
|
|
Com. Reg. No.: |
21-094154 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 2.200 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U29191WB2002PTC094154 |
|
|
|
|
IEC No.: |
Not Available |
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|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
CALM03794A |
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|
|
|
PAN No.: [Permanent Account No.] |
AADCM1360P |
|
|
|
|
Legal Form : |
Private Limited Liability Company. |
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|
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|
Line of Business
: |
Dealer and Distributor of Carrier air system, Eurobatex rang of
insulation and manufacturer of aluminums air grilles. |
|
|
|
|
No. of Employees
: |
400 (Approximately) |
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 |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
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|
Comments : |
Subject was incorporated in the year 2002, having satisfactory track. For the year 2014, the company has achieved decent sales turnover which
has increased as compared to last year marked by satisfactory profitability
margin. The company has adequate net worth base, however reported huge
borrowings and decline in its cash accruals. Trade relations are fair. Business is active. Payment are slow but
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 – 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 |
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
31-03-2015.
INFORMATION PARTED BY
|
Name : |
Ms. Kalyani |
|
Designation : |
Admin |
|
Contact No.: |
91-33-2464890 |
|
Date : |
04.11.2015 |
LOCATIONS
|
Registered Office/ Factory : |
108, Raja Basanta Roy Road, Kolkata – 700029, West Bengal, India |
|
Tel. No.: |
91-33-24648960/8961/6081 |
|
Fax No.: |
91-33-24649962 |
|
E-Mail : |
|
|
Website : |
DIRECTORS
AS ON 30.09.2014
|
Name : |
Arvind Kumar Mehrotra |
|
Designation : |
Director |
|
Address : |
2e, Panchsheel, 41/1b, Jowtala Road, Kolkata - 700019, West Bengal, India |
|
Date of Birth/Age : |
02.02.1960 |
|
Date of Appointment : |
25.01.2002 |
|
DIN No.: |
00691206 |
|
PAN No.: |
AEUPM4140F |
|
|
|
|
Name : |
Vishal Kapur |
|
Designation : |
Director |
|
Address : |
1925,Chak Garia,Flat 13 D 2, Ridge Tower, Panchasayar, Kolkata – 700094, West Bengal, India |
|
Date of Birth/Age : |
26.02.1970 |
|
Date of Appointment : |
25.01.2002 |
|
DIN No.: |
00911276 |
|
PAN No.: |
AFLPK4926R |
|
|
|
|
Name : |
Raja Banerjee |
|
Designation : |
Director |
|
Address : |
14a, Salimpur Bye Lane, P.O. Dhakuria, 1st Floor, Kolkata - 700031, West Bengal, India |
|
Date of Birth/Age : |
04.01.1972 |
|
Date of Appointment : |
16.07.2010 |
|
DIN No.: |
03055202 |
|
PAN No.: |
AJFPB6954Q |
|
|
|
|
Name : |
Jayanta Kumar Das |
|
Designation : |
Director |
|
Address : |
Flat 3/2, Tower 5, Ruchira Residency, 369 Purbachal, Kalitala Road, Kolkata - 700078, West Bengal, India |
|
Date of Birth/Age : |
21.01.1968 |
|
Date of Appointment : |
16.07.2010 |
|
DIN No.: |
03055194 |
|
PAN No.: |
ADUPD3185C |
KEY EXECUTIVES
|
Name : |
Ms. Kalyani |
|
Designation : |
Admin |
MAJOR SHAREHOLDERS
AS ON 30.09.2014
|
Names of Shareholders |
No. of Shares |
% of Holdings |
|
Arvind Kumar Mehrotra |
66000 |
30.00 |
|
Vishal Kapur |
66000 |
30.00 |
|
Raja Banerjee |
44000 |
20.00 |
|
Jayanta Kumar Das |
44000 |
20.00 |
|
|
|
|
|
Total |
220000 |
100.00 |
Equity Share Break up (Percentage of Total Equity)
AS ON 30.09.2014
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Dealer and Distributor of Carrier air system, Eurobatex rang of
insulation and manufacturer of aluminums air grilles. |
|
|
|
|
Products : |
|
|
|
|
|
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 : |
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Selling : |
Cash, Cheque and Credit |
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Purchasing : |
Cash, Cheque and Credit |
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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No. of Employees : |
400 (Approximately) |
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Bankers : |
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Facilities : |
(Rs.
In Million)
|
|
Auditors : |
|
|
Name : |
B.M. Chatrath and Company Chartered Accountants |
|
Address : |
Centre Point, 4th Floor, Room No. 440, 21, Hemanta Basu
Sarani, Kolkata – 700001, West Bengal, India |
|
Tel. No.: |
91-33-2248-4575/4667/6810/6798 |
|
Fax No.: |
91-33-2248-9934 |
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E-Mail : |
|
|
Website : |
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|
PAN No.: |
AACFB7576N |
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|
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Memberships : |
-- |
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|
|
|
Collaborators : |
-- |
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Related Party Disclosure under Accounting Standard - 18 : |
|
CAPITAL STRUCTURE
AS ON 30.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
400000 |
Equity Shares |
Rs.10/- each |
Rs. 4.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
220000 |
Equity Shares |
Rs.10/- each |
Rs. 2.200
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 |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
2.200 |
2.200 |
2.000 |
|
(b) Reserves & Surplus |
9.467 |
6.462 |
5.072 |
|
(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) |
11.667 |
8.662 |
7.072 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
15.874 |
4.140 |
10.775 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
4.004 |
2.420 |
0.000 |
|
Total Non-current
Liabilities (3) |
19.878 |
6.560 |
10.775 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
14.300 |
12.934 |
9.295 |
|
(b) Trade
payables |
92.277 |
102.507 |
106.256 |
|
(c) Other
current liabilities |
187.787 |
229.815 |
160.959 |
|
(d) Short-term
provisions |
2.722 |
3.837 |
4.294 |
|
Total Current
Liabilities (4) |
297.086 |
349.093 |
280.804 |
|
|
|
|
|
|
TOTAL |
328.631 |
364.315 |
298.651 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
5.595 |
4.756 |
5.562 |
|
(ii)
Intangible Assets |
0.038 |
0.063 |
0.105 |
|
(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) |
0.099 |
(0.009) |
0.072 |
|
(d) Long-term Loan and Advances |
0.536 |
0.535 |
0.522 |
|
(e) Other
Non-current assets |
13.206 |
11.017 |
0.000 |
|
Total Non-Current
Assets |
19.474 |
16.362 |
6.261 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
164.117 |
215.464 |
177.249 |
|
(c) Trade
receivables |
101.070 |
91.199 |
78.481 |
|
(d) Cash
and cash equivalents |
2.575 |
7.249 |
10.001 |
|
(e)
Short-term loans and advances |
25.428 |
17.855 |
14.938 |
|
(f) Other
current assets |
15.967 |
16.186 |
11.721 |
|
Total Current
Assets |
309.157 |
347.953 |
292.390 |
|
|
|
|
|
|
TOTAL |
328.631 |
364.315 |
298.651 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Income |
380.356 |
363.922 |
326.033 |
|
|
Other Income |
1.429 |
1.873 |
0.944 |
|
|
TOTAL |
381.785 |
365.795 |
326.977 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Purchases of Stock-in-Trade |
215.712 |
290.468 |
291.337 |
|
|
Changes in inventories of finished
goods, work-in-progress and Stock-in-Trade |
51.346 |
(38.215) |
(51.631) |
|
|
Employees benefits expense |
38.232 |
32.026 |
27.120 |
|
|
Other expenses |
66.422 |
72.582 |
53.078 |
|
|
TOTAL |
371.712 |
356.861 |
319.904 |
|
|
|
|
|
|
|
|
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
10.073 |
8.934 |
7.073 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
2.845 |
2.189 |
1.674 |
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
7.228 |
6.745 |
5.399 |
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
1.610 |
1.408 |
0.992 |
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
5.618 |
5.337 |
4.407 |
|
|
|
|
|
|
|
Less |
TAX |
1.864 |
2.114 |
1.729 |
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
3.754 |
3.223 |
2.678 |
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
17.06 |
14.65 |
12.17 |
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 |
NA |
NA |
NA |
|
Net cash flow from (used in) operation |
NA |
NA |
NA |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
0.99 |
0.89 |
0.82 |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
2.65 |
2.45 |
2.17 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.71 |
1.46 |
1.48 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.48 |
0.62 |
0.62 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
2.59 |
1.97 |
2.84 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.04 |
1.00 |
1.04 |
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 |
2.000 |
2.200 |
2.200 |
|
Reserves & Surplus |
5.072 |
6.462 |
9.467 |
|
Share Application money pending
allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
7.072 |
8.662 |
11.667 |
|
|
|
|
|
|
long-term borrowings |
10.775 |
4.140 |
15.874 |
|
Short term borrowings |
9.295 |
12.934 |
14.300 |
|
Current Maturities of Long
Term Debt |
0.000 |
0.000 |
0.000 |
|
Total
borrowings |
20.070 |
17.074 |
30.174 |
|
Debt/Equity
ratio |
2.838 |
1.971 |
2.586 |
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 |
326.033 |
363.922 |
380.356 |
|
|
|
11.621 |
4.516 |
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 |
326.033 |
363.922 |
380.356 |
|
Profit |
2.678 |
3.223 |
3.754 |
|
|
0.82% |
0.89% |
0.99% |
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 |
Yes |
|
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 |
Yes |
|
17 |
Details of sister concerns |
Yes |
|
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 |
Yes |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
UNSECURED LOAN
|
Particulars |
As
on 31.03.2014 |
As
on 31.03.2013 |
|
LONG TERM
BORROWING |
|
|
|
ICICI Bank |
2.737 |
0.000 |
|
Standard Chartered Bank |
2.798 |
1.134 |
|
Unsecured Loans
from Finance Companies |
|
|
|
Tata Capital Financial Service
Limited |
1.053 |
2.210 |
|
Religare Finvest Limited |
2.299 |
0.000 |
|
Magma Fincorp Limited |
2.794 |
0.000 |
|
Tata Capital Financial Services Limited |
2.075 |
0.000 |
|
SHORT TERM
BORROWING |
|
|
|
Barclays Bank |
0.000 |
0.549 |
|
Religare Finvest Limited |
0.000 |
0.912 |
|
|
|
|
|
Total |
13.756 |
4.805 |
|
|
|
|
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10576422 |
19/06/2015 |
15,000,000.00 |
Standard Chartered Bank |
SME BANKING, 19 N S ROAD, KOLKATA, West Bengal - 700001, INDIA |
C57197048 |
|
2 |
90246367 |
14/09/2004 |
2,500,000.00 |
CORPORATION BANK |
R B AVENUE BRANCH, 6/1 R B AVENUE, KOLKATA, West Bengal - 700026, INDIA |
- |
|
3 |
90247127 |
18/08/2002 |
2,000,000.00 |
DENA BANK |
BRABOUTVE ROAD BRANCH, KOLKATA, West Bengal - 700001, INDIA |
- |
FIXED ASSETS
- Computer
- Air
Conditioner
- Furniture and
Fixture
- Office
Equipments
- Machinery
- Motor Car
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 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. 65.57 |
|
UK Pound |
1 |
Rs. 101.13 |
|
Euro |
1 |
Rs. 71.80 |
INFORMATION DETAILS
|
Information
Gathered by : |
KMN |
|
|
|
|
Analysis Done by
: |
AMT |
|
|
|
|
Report Prepared
by : |
JYO |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILITY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--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.