MIRA INFORM REPORT
|
Report No. : |
349960 |
|
Report Date : |
17.11.2015 |
IDENTIFICATION DETAILS
|
Name : |
ZETTS COSMETICS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
2, Gokul Arcade, |
|
Tel. No.: |
91-22-66941200 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
07.05.2004 |
|
|
|
|
Com. Reg. No.: |
11-146152 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.5.100 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24246MH2004PTC146152 |
|
|
|
|
IEC No.: |
0304037940 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMZ01080C |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACZ2026J |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer and Exporter of Private lable perfumes. |
|
|
|
|
No. of Employees
: |
Information declined by the management
|
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 incorporated in the year 2004 having
satisfactory track. Available financial indicates sound financial risk profile marked by
healthy networth base with fair liquidity and favorable gap between trade
payables and trade receivables. Further, the rating also takes into consideration good profit margin of
the company. Trade relations are reported as fair. Business is active. Payments
terms are reported as usually correct and as per commitment. The company can be considered normal for business dealings at usual
trade term 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 |
CRISIL |
|
Rating |
Term Loan = (BB+) |
|
Rating Explanation |
Moderate risk of default |
|
Date |
23.06.2015 |
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 DENIED BY
|
Name : |
Mr. Krishna |
|
Designation : |
Account Manager |
|
Contact No.: |
91-22-66941200 |
|
Date : |
14.11.2015 |
LOCATIONS
|
Registered / Corporate Office : |
2, Gokul Arcade, "B" Building, Subhash Road, Vile Parle (East), Mumbai-400057, Maharashtra, India |
|
Tel. No.: |
91-22-66941209 / 66941200 |
|
Fax No.: |
91-22-66960057 / 66459719 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Factory : |
411/412, New Area, Kasez Road, Gandhidham, Kutch – 370230, Gujarat,
India |
DIRECTORS
AS ON 30.09.2014
|
Name : |
Mr. Arun Bhargav Desai |
|
Designation : |
Director |
|
Address : |
604, B, Sidhhgiri Raj Kamal Marg, Office Dr. S S Road, Parel, Mumbai-400012,
Maharashtra, India |
|
Date of Birth/Age : |
07.10.1962 |
|
Date of Appointment : |
09.10.2012 |
|
DIN No.: |
00227578 |
|
|
|
|
Name : |
Mr. Sudhir Sunderlal Kapadia |
|
Designation : |
Director |
|
Address : |
504, Panchsheel C Road, Churchgate, Mumbai – 400020, Maharashtra,
India |
|
Date of Birth/Age : |
20.01.1950 |
|
Date of Appointment : |
09.05.2004 |
|
DIN No.: |
00299047 |
KEY EXECUTIVES
|
Name : |
Mr. Krishna |
|
Designation : |
Account Manager |
SHAREHOLDING PATTERN
AS ON 30.09.2014
|
Names of Shareholders |
|
No. of Shares |
|
Arun Bhargav Desai |
|
254847 |
|
Kalpana Sudhir Kapadia |
|
51 |
|
Jyoti K Sheth |
|
51 |
|
Kirit Sheth |
|
254694 |
|
Sanjay M. Punatur |
|
51 |
|
Swati Desai |
|
51 |
|
Mahendra G. Punatar |
|
51 |
|
Suniti Desai |
|
51 |
|
Sudhir Kapadia - HUF |
|
51 |
|
Sunil D. Joshi |
|
51 |
|
Anita Shah |
|
51 |
|
|
|
|
|
Total |
|
510000 |
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 : |
Manufacturer and Exporter of Private lable perfumes. |
|
|
|
|
Products : |
Private Lable Perfumes |
|
|
|
|
Brand Names : |
Not Available |
|
|
|
|
Agencies Held : |
Not Available |
|
|
|
|
Exports : |
Not Divulged |
|
|
|
|
Imports : |
Not Available |
|
|
|
|
Terms : |
Not Divulged |
PRODUCTION STATUS: NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Customers : |
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
No. of Employees : |
Information declined by the management
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Bankers : |
|
||||||||||||||||||||||
|
|
|
|
Auditors : |
|
|
Name : |
Kamdar Desai and Patel Chartered Accountants |
|
Address : |
Vasaikar House, 296, Cadell Road, Dadar (West), Mumbai – 400028,
Maharashtra, India |
|
Tel. No.: |
91-22-24475000 |
|
Fax No.: |
91-22-24475001 |
|
E-Mail : |
|
|
Website: |
|
|
PAN N Income-tax PAN of auditor or auditor's firm : |
AABPK7767P |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Associates/Subsidiaries : |
Not Available |
CAPITAL STRUCTURE
AS ON 30.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
550000 |
Equity Shares |
Rs.10/- each |
Rs.5.500 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
510000 |
Equity Shares |
Rs.10/- each |
Rs.5.100 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 |
5.100 |
5.100 |
0.100 |
|
(b) Reserves & Surplus |
24.096 |
15.205 |
13.730 |
|
(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) |
29.196 |
20.305 |
13.830 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
40.900 |
47.824 |
46.300 |
|
(b) Deferred tax liabilities (Net) |
0.340 |
0.588 |
0.545 |
|
(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) |
41.240 |
48.412 |
46.845 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
2.058 |
3.003 |
0.000 |
|
(b) Trade
payables |
29.568 |
23.487 |
17.685 |
|
(c) Other
current liabilities |
8.029 |
6.611 |
14.949 |
|
(d) Short-term
provisions |
6.350 |
3.950 |
2.250 |
|
Total Current
Liabilities (4) |
46.005 |
37.051 |
34.884 |
|
|
|
|
|
|
TOTAL |
116.441 |
105.768 |
95.559 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i) Tangible
assets |
32.805 |
34.346 |
31.356 |
|
(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 |
0.000 |
0.000 |
0.000 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
32.805 |
34.346 |
31.356 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
1.661 |
0.286 |
1.664 |
|
(b)
Inventories |
38.071 |
32.649 |
32.229 |
|
(c) Trade
receivables |
34.054 |
31.010 |
24.992 |
|
(d) Cash
and cash equivalents |
1.640 |
1.992 |
1.940 |
|
(e) Short-term
loans and advances |
8.210 |
5.485 |
3.378 |
|
(f) Other
current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
83.636 |
71.422 |
64.203 |
|
|
|
|
|
|
TOTAL |
116.441 |
105.768 |
95.559 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
284.432 |
214.375 |
|
|
|
|
Other Income |
0.426 |
0.652 |
|
|
|
|
TOTAL (A) |
284.858 |
215.027 |
187.854 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
205.336 |
152.705 |
|
|
|
|
Changes in Inventories of finished goods, work-in-progress and
stock-in-trade |
(5.339) |
(5.449) |
|
|
|
|
Employee Benefits Expenses |
20.919 |
17.405 |
|
|
|
|
Other Expenses |
44.543 |
34.382 |
|
|
|
|
TOTAL (B) |
265.459 |
199.043 |
181.831 |
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
19.399 |
15.984 |
|
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
2.098 |
2.241 |
|
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D)
(E) |
17.301 |
13.743 |
[Including Financial and Depreciation Expenses] |
|
|
|
|
|
|
|
|
|
Less |
DEPRECIATION/ AMORTISATION (F) |
6.259 |
5.526 |
|
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX (E-F) (G) |
11.042 |
8.217 |
6.023 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
2.151 |
1.743 |
1.941 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS) AFTER
TAX (G-H) (I) |
8.891 |
6.474 |
4.082 |
|
|
|
|
|
|
|
|
|
|
IMPORTS – CIF
VALUE |
107.530 |
72.074 |
19.648 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
17.43 |
12.70 |
8.00 |
|
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 flows from (used in) operations |
NA |
NA |
NA |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
3.13 |
3.02 |
NA |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
6.82 |
7.46 |
NA |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
9.48 |
7.77 |
6.30 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.38 |
0.40 |
0.44 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
1.47 |
2.50 |
3.35 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.82 |
1.93 |
1.84 |
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 |
0.100 |
5.100 |
5.100 |
|
Reserves & Surplus |
13.730 |
15.205 |
24.096 |
|
Net worth |
13.830 |
20.305 |
29.196 |
|
|
|
|
|
|
Long-term borrowings |
46.300 |
47.824 |
40.900 |
|
Short term borrowings |
0.000 |
3.003 |
2.058 |
|
Total borrowings |
46.300 |
50.827 |
42.958 |
|
Debt/Equity ratio |
3.348 |
2.503 |
1.471 |
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 |
187.854 |
215.027 |
284.858 |
|
|
|
14.465 |
32.475 |
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 |
187.854 |
215.027 |
284.858 |
|
Profit |
4.082 |
6.474 |
8.891 |
|
|
2.17% |
3.01% |
3.12% |
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 |
Yes |
|
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 |
NOTE
The registered office address of the company has been shifted from 302 Navin
Ashadadasaheb Phalke Road, Dader (East), Mumbai – 400014, Maharashtra, India to
present address w.e.f. 04.05.2009
OPERATING PERFORMANCE
During
the year, the total income of the Company was Rs. 284.858 Million (Previous Year
Rs.215.027 Million). The Net Profit of the Company is Rs.8.891 Million
(Previous Year Rs.6.474 Million). The Company has recorded a growth of 37.33%.
The Directors are assured of higher returns in the future.
COMPANY’S
PERFORMANCE AND FUTURE OUTLOOK
Subject manufacturer and exporter of “Private Lable perfumes” has
marched through the year with impressive growth and profitability. Though the
economical crisis, Global meltdown and surging dollar rates have put enormous
challenge, they have sustained both growth and profitability.
Meeting to and delivering more than the client expectations would
remain, like for any brand, primary focus for next few years.
UNSECURED LOAN
|
Particulars |
31.03.2014 Rs. In Million |
31.03.2013 Rs. In Million |
|
Long Term Borrowings |
|
|
|
Loans from
promoters |
34.300 |
40.300 |
|
Loans from
relatives of promoters |
6.600 |
5.000 |
|
Packing credit in
USD |
0.000 |
2.524 |
|
|
|
|
|
Short Term Borrowings |
|
|
|
Daimler Financial
Services (I) Private Limited – Car loan
|
2.058 |
3.003 |
|
|
|
|
|
Total |
42.958 |
50.827 |
INDEX
OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
10154459 |
02/04/2015 * |
110,000,000.00 |
BANK OF MAHARASHTRA |
SAMRADDHI HEIGHTS, D.L.VAIDYA ROAD, DADAR, MUMBAI- 400028, MAHARASHTRA, INDIA |
C63502660 |
* Date of charge modification
FIXED ASSETS
·
Mould
·
Computer
·
Air Conditioner
·
Office Equipments
·
Furniture and Fixtures
·
Motor Vehicles
·
Plant and Machinery
·
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, 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.66.17 |
|
UK Pound |
1 |
Rs.100.65 |
|
Euro |
1 |
Rs.70.97 |
INFORMATION DETAILS
|
Information
Gathered by : |
PRT |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
GEET |
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 |
5 |
|
--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 |
NO |
|
--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.