MIRA INFORM REPORT
|
Report No. : |
350568 |
|
Report Date : |
19.11.2015 |
IDENTIFICATION DETAILS
|
Name : |
GOLDSTAR METALS LIMITED |
|
|
|
|
Registered
Office : |
207, 2nd Floor, Kalpataru Plaza, S V Road, Rambaug, Malad (West), Mumbai-400064, Maharashtra |
|
Mob No.: |
91-9867371607 (Mr. Ashok Premchand Shah) |
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|
Country : |
India |
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|
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
10.08.1998 |
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|
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Com. Reg. No.: |
11-116190 |
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Capital
Investment / Paid-up Capital : |
Rs. 30.000 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U27110MH1998PLC116190 |
|
|
|
|
IEC No.: |
0398052638 |
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|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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|
|
PAN No.: [Permanent Account No.] |
AABCG0330M |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Manufacturer of Copper and Brass Extrusions. |
|
|
|
|
No. of Employees
: |
Information declined by the Management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (47) |
|
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 in the year 1998,
having satisfactory track. Rating takes into consideration strong financial risk profile of the
company marked by adequate networth base and comfortable gearing in FY14. Further the company has reported significant increase in sales
turnover and profit along with fair profit margin of nearly 2% in the year
under consideration. 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 |
CRISIL |
|
Rating |
Long Term Rating=BB+ |
|
Rating Explanation |
Inadequate credit quality and high credit
risk |
|
Date |
09.09.2015 |
|
|
|
|
Rating Agency Name |
CRISIL |
|
Rating |
Short Term Rating=A4+ |
|
Rating Explanation |
Minimal degree of safety and very high
credit risk |
|
Date |
09.09.2015 |
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 DECLINED BY
|
Name : |
Mr. Ashok Premchand Shah |
|
Designation : |
Director |
|
Contact No.: |
91-9867371607 |
|
Date : |
18.11.2015 |
LOCATIONS
|
Registered Office : |
207, 2nd Floor, Kalpataru Plaza, S V Road, Rambaug, Malad (West),
Mumbai-400064, Maharashtra, India |
|
Tel. No.: |
Not Available |
|
Mobile No.: |
91-9867371607 (Mr. Ashok Premchand Shah) |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Factory : |
Near Bharat Industrial Area, Village Bhimpore, Daman – 396210, Daman
and Diu (U.T.), India |
DIRECTORS
AS ON 09.08.2014
|
Name : |
Mr. Ashok Premchand Shah |
|
Designation : |
Director |
|
Address : |
503, Indraprastha Building No.3,, Jitendra Road, Malad (East),
Mumbai-400097, Maharashtra, India |
|
Date of Birth/Age : |
01.09.1950 |
|
Qualification : |
I.Sc
(Inter Science) |
|
Date of Appointment : |
10.08.1998 |
|
PAN No.: |
AAFPS5354J |
|
DIN No.: |
00956545 |
|
|
|
|
Name : |
Mr. Laxmidas Unadkat |
|
Designation : |
Director |
|
Address : |
B-307, Jayesh Apartment Chandavarakar Lane, Borivali (West), Mumbai-
400092, Maharashtra, India |
|
Date of Birth/Age : |
20.07.1931 |
|
Qualification : |
B.Sc. |
|
Date of Appointment : |
10.081998 |
|
PAN No.: |
AAAPU4884G |
|
DIN No.: |
00956670 |
|
|
|
|
Name : |
Mr. Chunilal Dharamshi Nagda |
|
Designation : |
Director |
|
Address : |
120, Jawahar Nagar, Goregoan (West), Mumbai-400052, Maharashtra, India |
|
Date of Birth/Age : |
20.04.1955 |
|
Date of Appointment : |
30.09.1999 |
|
DIN No.: |
00956876 |
|
|
|
|
Name : |
Mr. Rajmal Mathuralal Jain |
|
Designation : |
Director |
|
Address : |
B-503,Gods Gift, Adarsh Colony, Off Marve Road, Malad (West), Mumbai- 400064,
Maharashtra, India |
|
Date of Birth/Age : |
07.06.1954 |
|
Qualification : |
S.S.C. |
|
Date of Appointment : |
10.08.1998 |
|
PAN No.: |
ABSPJ2844E |
|
DIN No.: |
01302984 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 09.08.2014
NOTE: SHAREHOLDING AND ALLOTTEES DETAILS FILE ATTACHED
AS ON 09.08.2014
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Directors
or relatives of directors |
85.87 |
|
Other
top fifty shareholders |
14.13 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Copper and Brass Extrusions. |
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Products : |
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Brand Names : |
-- |
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Agencies Held : |
-- |
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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
|
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 : |
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Banking
Relations : |
-- |
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Auditors : |
|
|
Name : |
B
H Kishnadwala and Associates Chartered Accountants |
|
Address : |
B-75, Gopal Mansion, 2nd
Floorgurunanak Road, Bandra (West), Mumbai, Maharashtra, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AADFB6942K |
|
|
|
|
Memberships : |
-- |
|
|
|
|
Collaborators : |
-- |
|
|
|
|
Associates/Subsidiaries : |
Not Available |
CAPITAL STRUCTURE
AFTER 09.08.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
6,000,000 |
Equity Shares |
Rs. 10/- each |
Rs. 60.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4,500,000 |
Equity Shares |
Rs. 10/- each |
Rs. 45.000
Million |
|
|
|
|
|
AS ON 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3,000,000 |
Equity Shares |
Rs. 10/- each |
Rs. 30.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3,000,000 |
Equity Shares |
Rs. 10/- each |
Rs. 30.000
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 |
30.000 |
30.000 |
30.000 |
|
(b) Reserves & Surplus |
128.895 |
118.830 |
118.228 |
|
(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) |
158.895 |
148.830 |
148.228 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
13.871 |
7.300 |
161.555 |
|
(b) Deferred tax liabilities (Net) |
3.569 |
2.825 |
4.065 |
|
(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) |
17.440 |
10.125 |
165.620 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
156.033 |
155.997 |
0.000 |
|
(b)
Trade payables |
11.094 |
6.627 |
35.807 |
|
(c)
Other current liabilities |
1.516 |
2.578 |
1.716 |
|
(d)
Short-term provisions |
19.424 |
50.865 |
53.831 |
|
Total
Current Liabilities (4) |
188.067 |
216.067 |
91.354 |
|
|
|
|
|
|
TOTAL |
364.402 |
375.022 |
405.202 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
47.742 |
49.416 |
43.921 |
|
(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 |
16.788 |
16.855 |
0.005 |
|
(e)
Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
64.530 |
66.271 |
43.926 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
15.572 |
|
(b)
Inventories |
112.653 |
94.534 |
85.593 |
|
(c)
Trade receivables |
125.355 |
113.753 |
159.930 |
|
(d)
Cash and cash equivalents |
4.298 |
7.842 |
0.179 |
|
(e)
Short-term loans and advances |
57.566 |
92.622 |
99.932 |
|
(f)
Other current assets |
0.000 |
0.000 |
0.070 |
|
Total
Current Assets |
299.872 |
308.751 |
361.276 |
|
|
|
|
|
|
TOTAL |
364.402 |
375.022 |
405.202 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from Operations |
752.803 |
724.142 |
713.875 |
|
|
|
Other Income |
4.916 |
1.501 |
0.000 |
|
|
|
TOTAL (A) |
757.719 |
725.643 |
713.875 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
678.892 |
684.361 |
639.618 |
|
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
0.034 |
(9.117) |
2.920 |
|
|
|
Employees benefits expense |
18.307 |
18.385 |
17.881 |
|
|
|
Other expenses |
5.224 |
6.382 |
7.033 |
|
|
|
TOTAL (B) |
702.457 |
700.011 |
667.452 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
55.262 |
25.632 |
46.423 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
24.335 |
21.933 |
23.139 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
30.927 |
3.699 |
23.284 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
4.649 |
4.337 |
4.982 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
26.278 |
(0.638) |
18.302 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
9.193 |
(1.240) |
6.668 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
17.085 |
0.602 |
11.634 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
2.48 |
0.2 |
3.88 |
|
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 Operations |
NA |
NA |
NA |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
2.27 |
0.08 |
1.63 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/Sales) |
(%) |
7.34 |
3.54 |
6.50 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
7.21 |
-0.17 |
4.52 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.17 |
0.00 |
0.12 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
1.07 |
1.10 |
1.09 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.59 |
1.43 |
3.95 |
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 |
30.000 |
30.000 |
30.000 |
|
Reserves & Surplus |
118.228 |
118.830 |
128.895 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
148.228 |
148.830 |
158.895 |
|
|
|
|
|
|
Long-term borrowings |
161.555 |
7.300 |
13.871 |
|
Short term borrowings |
0.000 |
155.997 |
156.033 |
|
Total
borrowings |
161.555 |
163.297 |
169.904 |
|
Debt/Equity
ratio |
1.090 |
1.097 |
1.069 |
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 |
713.875 |
724.142 |
752.803 |
|
|
|
1.438 |
3.958 |
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 |
713.875 |
724.142 |
752.803 |
|
Profit |
11.634 |
0.602 |
17.085 |
|
|
1.63% |
0.08% |
2.27% |
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 |
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 |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
90157370 |
20/01/2014 * |
166,000,000.00 |
STATE BANK OF INDIA |
INDUSTRIAL FINANCE BRANCH,
NEAR CHINCHOLI PHATAK, |
B98379787 |
* Date of charge modification
UNSECURED LOANS
|
PARTICULARS |
31.03.2014 (Rs.
In Million) |
31.03.2013 (Rs.
In Million) |
|
LONG-TERM BORROWINGS |
|
|
|
Intercorporate borrowings |
9.500 |
7.300 |
|
Loans and advances from related parties |
4.371 |
0.000 |
|
|
|
|
|
Total |
13.871 |
7.300 |
OPERATIONS AND OUTLOOK:
During the year, the company
achieved sales turnover of Rs. 744.449 Million as against Rs. 716.384 Million
achieved during the corresponding period of previous year. The company also
earned during the year an amount of Rs 8.354 Million vis-à-vis Rs 7.758 Million
earned during the corresponding period of the previous year from the job work
.After offsetting the expenses, the company earned a profit of Rs. 7.435
Million during the year as against profit of Rs. 0.602 Million earned during
the corresponding period of the previous year. The company is taking all
possible steps to improve the performance of the company. The directors are
optimistic about the future of the company.
FIXED ASSETS:
Tangible Assets
·
Land
·
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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. 66.11 |
|
|
1 |
Rs. 100.51 |
|
Euro |
1 |
Rs. 70.39 |
INFORMATION DETAILS
|
Information
Gathered by : |
GYT |
|
|
|
|
Analysis Done by
: |
KIN |
|
|
|
|
Report Prepared
by : |
IND |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
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 |
|
47 |
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.