MIRA INFORM REPORT
|
Report No. : |
349135 |
|
Report Date : |
09.11.2015 |
IDENTIFICATION DETAILS
|
Name : |
BREECH ORALCARE PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Revenue Survey No.1008, Creative Industrial Estate, Gorwa, Vadodara – 390016,
Gujarat |
|
Tel. No.: |
91-265-2290292/ 177 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
11.07.2007 |
|
|
|
|
Com. Reg. No.: |
04-051300 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.12.210 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24290GJ2007PTC051300 |
|
|
|
|
IEC No.: |
3407003064 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
BRDB01717C |
|
|
|
|
PAN No.: [Permanent Account No.] |
AADCB1750G |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
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|
|
|
Line of Business
: |
Manufacturer and Importer of Tooth Brush. |
|
|
|
|
No. of Employees
: |
300 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (50) |
|
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 a contract manufacturer of toothbrush for Proctor and
Gamble (P&G) under the Oral B brand. Its manufacturing facility is
located in Vadodara, Gujarat. As per registrar of companies the date of balance sheet (i.e.
financial field) is shown as 31.03.2015 but documents related to financial
for the year ending 2015 is not available from any source. The rating takes into consideration sound financial risk profile of
the company marked by adequate by adequate networth base and its comfortable
debt level in the year 2014. Further, the company has reported decent increase in its sales
turnover along with fair profit margin of nearly 4% in the year under
consideration. Further, the rating also factor in established presence the company in
the tooth brush manufacturing segment. Trade relations are fair. Business is active. Payment terms are
reported to be usually correct. In view of long track record of business operations along with decent
financial condition, the company can be considered for business dealings with
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.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
Long Term Bank Facilities=BBB |
|
Rating Explanation |
Moderate degree of safety and moderate credit risk. |
|
Date |
09.04.2015 |
|
Rating Agency Name |
CARE |
|
Rating |
Short Term Bank Facilities=A2 |
|
Rating Explanation |
Strong degree of safety and low credit risk. |
|
Date |
09.04.2015 |
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 (GENERAL DETAILS)
|
Name : |
Mr. Mukesh Jadhav |
|
Designation : |
Accountant |
|
Contact No.: |
91-9998975659 |
|
Date : |
06.11.2015 |
LOCATIONS
|
Registered Office/ Factory : |
Revenue Survey No.1008, Creative Industrial Estate, Gorwa, Vadodara –
390016, Gujarat, India |
|
Tel. No.: |
91-265-2290292/ 177 |
|
Mobile No.: |
91-9998975659 (Mr. Mukesh Jadhav) |
|
Fax No.: |
91-265-290293 |
|
E-Mail : |
|
|
Website : |
DIRECTORS
As on 18.06.2015
|
Name : |
Mr. Bharat Kumar Joshi |
|
Designation : |
Director |
|
Address : |
C- 2, Aditya Banglow, Tandalja, Village Vadodara - 390020, Gujarat, India |
|
Date of Appointment : |
12.07.2007 |
|
DIN No.: |
00374838 |
|
|
|
|
Name : |
Mr. Dilip Kirtisen Vora |
|
Designation : |
Director |
|
Address : |
41, Shankar Mahal, Sophia College Lane, Breach Candy, Mumbai - 400026, Maharashtra, India |
|
Date of Birth/Age : |
19.04.1936 |
|
Date of Appointment : |
11.07.2007 |
|
DIN No.: |
00610849 |
|
|
|
|
Name : |
Mr. Prafull Dwarkadas Goradia |
|
Designation : |
Additional Director |
|
Address : |
145, Sunder Nagar, Lodi Road, New Delhi - 110003India |
|
Date of Birth/Age : |
05.07.1948 |
|
Date of Appointment : |
01.01.2015 |
|
DIN No.: |
00322930 |
KEY EXECUTIVES
|
Name : |
Mr. Mukesh Jadhav |
|
Designation : |
Accountant |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 18.06.2015
|
Names of Shareholders |
|
No. of Shares |
|
Dilip Kirtisen Vora |
|
17500 |
|
Hemang M. Mehta |
|
11 |
|
Elgin Road Services Private Limited, India |
|
603500 |
|
Contemporary Brokers Private Limited, India |
|
600000 |
|
Total |
|
1221011 |
Equity Share Break up (Percentage of Total Equity)
As on 18.06.2015
|
Category |
Percentage |
|
Bodies corporate |
98.56 |
|
Directors or relatives of Directors |
1.43 |
|
Other top fifty shareholders |
0.01 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Importer of Tooth Brush. |
|
|
|
|
Products : |
Tooth Brush |
|
|
|
|
Brand Names : |
“Oral B” |
|
|
|
|
Agencies Held : |
Not Available |
|
|
|
|
Exports : |
Not Available |
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|
|
|
Imports : |
|
|
Products : |
Raw Material |
|
Countries : |
|
|
|
|
|
Terms : |
|
|
Selling : |
Cash, L/C and Credit |
|
|
|
|
Purchasing : |
Cash, L/C and Credit |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
Wholesalers, Retailers and Manufacturer
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No. of Employees : |
300 (Approximately) |
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Bankers : |
State Bank of India, Commercial Branch, Alkapuri, Vadodara, India |
|||||||||||||||||||||||||||
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Facilities : |
|
|
|
|
|
Auditors : |
|
|
Name : |
Shah and Bhandari Chartered Accountants |
|
Address : |
38/101, Gautam Nagar, Race Cource, Vadodara – 390007, Gujarat, India |
|
PAN N Income-tax PAN of auditor or auditor's firm : |
AANFS8293E |
|
|
|
|
Memberships : |
-- |
|
|
|
|
Collaborators : |
-- |
|
|
|
|
Associates Companies: |
Contemporary Brokers Private Limited Elgin Road Services Private Limited Aravali Dentifrices Private Limited |
CAPITAL STRUCTURE
As on 18.06.2015
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1500000 |
Equity Shares |
Rs.10/- each |
Rs.15.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1221011 |
Equity Shares |
Rs.10/- each |
Rs.12.210
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 |
12.210 |
12.210 |
12.210 |
|
(b) Reserves & Surplus |
84.488 |
60.681 |
44.393 |
|
(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) |
96.698 |
72.891 |
56.603 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
9.744 |
35.901 |
|
(b) Deferred tax liabilities
(Net) |
1.497 |
2.444 |
2.366 |
|
(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) |
1.497 |
12.188 |
38.267 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
48.036 |
55.176 |
23.162 |
|
(b) Trade payables |
26.404 |
28.778 |
34.143 |
|
(c) Other current liabilities |
6.794 |
4.363 |
4.656 |
|
(d) Short-term provisions |
13.434 |
11.214 |
11.230 |
|
Total
Current Liabilities (4) |
94.668 |
99.531 |
73.191 |
|
|
|
|
|
|
TOTAL |
192.863 |
184.610 |
168.061 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
75.050 |
83.733 |
69.419 |
|
(ii) Intangible Assets |
0.385 |
0.343 |
0.021 |
|
(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 |
15.331 |
4.055 |
2.165 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
90.766 |
88.131 |
71.605 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
83.082 |
65.730 |
38.731 |
|
(c) Trade receivables |
9.879 |
28.574 |
51.757 |
|
(d) Cash and cash equivalents |
7.620 |
0.747 |
0.595 |
|
(e) Short-term loans and
advances |
1.516 |
1.428 |
5.373 |
|
(f) Other current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
102.097 |
96.479 |
96.456 |
|
|
|
|
|
|
TOTAL |
192.863 |
184.610 |
168.061 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Income |
652.528 |
586.426 |
520.446 |
|
|
Other Income |
1.107 |
0.561 |
1.635 |
|
|
TOTAL
|
653.635 |
586.987 |
522.081 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
TOTAL
|
592.500 |
540.581 |
481.712 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
61.135 |
46.406 |
40.369 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION |
14.893 |
13.444 |
10.332 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
46.242 |
32.962 |
30.037 |
|
|
|
|
|
|
|
Less |
TAX |
15.293 |
10.997 |
9.833 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
30.949 |
21.965 |
20.204 |
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
40.165 |
26.072 |
13.564 |
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
Transfer to General Reserve |
3.099 |
2.196 |
2.020 |
|
|
Proposed Dividend |
6.105 |
4.884 |
4.884 |
|
|
Dividend Tax on Proposed
Dividend |
1.038 |
0.792 |
0.792 |
|
|
Total
|
10.242 |
7.872 |
7.696 |
|
|
|
|
|
|
|
|
Balance
Carried to the B/S |
60.872 |
40.165 |
26.072 |
|
|
IMPORTS |
|
|
|
|
|
Material Purchase |
35.730 |
24.982 |
13.168 |
|
|
Components and Stores parts |
2.669 |
0.722 |
0.395 |
|
|
Capital Goods |
0.231 |
0.000 |
7.179 |
|
|
TOTAL
IMPORTS |
38.630 |
25.704 |
20.742 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
25.35 |
17.99 |
16.55 |
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current Maturities of Long term debt |
2.854 |
3.079 |
3.079 |
|
Cash generated from operations |
58.902 |
45.750 |
55.521 |
|
Net cash flow from operating activity |
42.662 |
34.830 |
45.910 |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
4.74 |
3.75 |
3.88 |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
9.37 |
7.91 |
7.76 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
23.98 |
17.85 |
17.87 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.48 |
0.45 |
0.53 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.53 |
0.93 |
1.10 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.08 |
0.97 |
1.32 |
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 |
12.210 |
12.210 |
12.210 |
|
Reserves & Surplus |
44.393 |
60.681 |
84.488 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
56.603 |
72.891 |
96.698 |
|
|
|
|
|
|
long-term borrowings |
35.901 |
9.744 |
0.000 |
|
Short term borrowings |
23.162 |
55.176 |
48.036 |
|
Current Maturities of
Long-Term Debts |
3.079 |
3.079 |
2.854 |
|
Total
borrowings |
62.142 |
67.999 |
50.890 |
|
Debt/Equity
ratio |
1.098 |
0.933 |
0.526 |
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 |
520.446 |
586.426 |
652.528 |
|
|
|
12.678 |
11.272 |
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 |
520.446 |
586.426 |
652.528 |
|
Profit |
20.204 |
21.965 |
30.949 |
|
|
3.88% |
3.75% |
4.74% |
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) |
Yes |
|
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 |
Yes |
|
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 |
NOTE: The Registered office of the company has been shifted from to C-2/20, Industrial Estate Gorwa, Vadodara – 390016, Gujarat, India the present address w.e.f. 05.01.2011
PERFORMANCE
REVIEW:
During the financial year, there has been a marginal increase in turnover
by 11%. The company achieved a profit before tax of Rs.46.242 Million as
compared to Rs.32.962 Million in the previous year. Nonetheless, the company
aims at strengthening performance in all areas of operation. It also seeks to
increase capacity utilasation.
UNSECURED LOAN
|
PARTICULARS |
31.03.2014 (Rs.
in Million) |
31.03.2013 (Rs.
in Million) |
|
Long-term
Borrowings |
|
|
|
From Related Parties |
0.000 |
6.600 |
|
|
|
|
|
Total |
0.000 |
6.600 |
INDEX
OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10094839 |
04/02/2014 * |
78,800,000.00 |
State Bank of
India |
Specialised
Commercial Branch, Trident Complex, |
B98702251 |
FIXED ASSETS
- Leasehold Factory Building
- Plant and Equipment
- Cams and Dies
- Electrical Installation
- Furniture and Fittings
- Office Equipments
- Computers
- Motor Cars
- Software and Licenses
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.65.79 |
|
|
1 |
Rs.99.94 |
|
Euro |
1 |
Rs.71.54 |
INFORMATION DETAILS
|
Information
Gathered by : |
DIP |
|
|
|
|
Analysis Done by
: |
KIN |
|
|
|
|
Report Prepared
by : |
SUD |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILITY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--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 |
|
50 |
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.