MIRA INFORM REPORT
|
Report No. : |
350354 |
|
Report Date : |
21.11.2015 |
IDENTIFICATION DETAILS
|
Name : |
NYNAS NAPHTHENICS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
22nd Floor, 2203-2205, Kesar Solitaire, Plot no. 5, Sector 19,
Sanpada, Navi Mumbai – 400705, Maharashtra |
|
Tel. No.: |
91-22-67933800 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
21.08.2009 |
|
|
|
|
Com. Reg. No.: |
11-195149 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs. 5.073
Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U51109MH2009FTC195149 |
|
|
|
|
IEC No.: |
0309063175 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMN17278C |
|
|
|
|
PAN No.: [Permanent Account No.] |
AADCN0672M |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Trader of Speciality Oil. |
|
|
|
|
No. of Employees
: |
5 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
A (59) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Maximum Credit Limit : |
USD 110600 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a subsidiary of Nynas AB, Sweden, incorporated in the year
2009. For the financial year ended 2014, the company has healthy operational
activity marked by decent top line growth along with profitability margin of
2.6%. The company has decent financial base, comfortable capital structure
along with zero debt balance sheet profile. The company receives strong managerial and financial support from its
holding company. Trade relations are fair. Business is active. Payments are regular and
as per commitment. 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
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 : |
Mr. Sundaram |
|
Designation : |
Operation Head |
|
Contact No.: |
91-9967356363 |
|
Date : |
20.11.2015 |
LOCATIONS
|
Registered Office : |
22nd Floor, 2203-2205, Kesar Solitaire, Plot no. 5, Sector
19, Sanpada, Navi Mumbai – 400705, Maharashtra, India |
|
Tel. No.: |
91-22-67933800 |
|
Mobile No.: |
91-9967356363 |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
|
Locality : |
Commercial |
DIRECTORS
AS ON 30.09.2014
|
Name : |
Mr. Arjun Dilip Lad |
|
Designation : |
Director |
|
Address : |
B/1101, Yashvasin, Plot No. 38, Sector 27, Kharghar, Navi Mumbai-410210, Maharashtra, India |
|
Date of Appointment : |
21.08.2009 |
|
DIN No.: |
02701194 |
|
|
|
|
Name : |
Pascal Albert Johan Verhoie |
|
Designation : |
Director |
|
Address : |
6 Martin Place, Martin Place Residences, Singapore, 237989, Singapore |
|
Date of Appointment : |
28.09.2012 |
|
DIN No.: |
06454497 |
|
|
|
|
Name : |
Maria Lundin Olandersson |
|
Designation : |
Director |
|
Address : |
Klingsta Gard 17, Danderyd, Sweden, 18233, Sweden |
|
Date of Appointment : |
28.09.2012 |
|
DIN No.: |
06469201 |
KEY EXECUTIVES
|
Name : |
Mr. Sundaram |
|
Designation : |
Operation Head |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2014
|
Names of Shareholders |
|
No. of Shares |
|
Nynas AB, Sweden |
|
506266 |
|
Nynas Oil import AB, Sweden |
|
1000 |
|
|
|
|
|
Total |
|
507266 |
AS ON 30.09.2014
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
100.00 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Trader of Speciality Oil. |
|
|
|
|
Brand Names : |
-- |
|
|
|
|
Agencies Held : |
-- |
|
|
|
|
Exports : |
|
|
Products : |
Speciality Oil |
|
Countries : |
Sri Lanka |
|
|
|
|
Imports : |
|
|
Products : |
Oil |
|
Countries : |
European Countries |
|
|
|
|
Terms : |
|
|
Selling : |
Cash, Advance Payment, Cheque and Credit |
|
|
|
|
Purchasing : |
Cash, Advance Payment, Cheque and Credit |
PRODUCTION STATUS: NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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||||||||||||||||||||||
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Customers : |
Wholesalers, Retailers, End Users and OEMs
|
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No. of Employees : |
5 (Approximately) |
||||||||||||||||||||||
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Bankers : |
|
||||||||||||||||||||||
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|
||||||||||||||||||||||
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Facilities : |
-- |
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
S V Ghatalia and Associates LLP Chartered Accountants |
|
Address : |
14th Floor, The Ruby, 28, Senapati Bapat Marg, Dadar [West],
Mumbai – 400028, Maharashtra, India |
|
Tel. No.: |
91-22-61920000 |
|
Fax No.: |
91-22-61921000 |
|
Income-tax
PAN of auditor or auditor's firm : |
ACHFS8191P |
|
|
|
|
Memberships : |
-- |
|
|
|
|
Collaborators : |
-- |
|
|
|
|
Holding Company : |
Nynas AB, Sweden |
|
|
|
|
Other Fellow Subsidiaries : |
Nynas Pte Singapore |
CAPITAL STRUCTURE
AS ON 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1,000,000 |
Equity Shares |
Rs. 10/- each |
Rs. 10.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
507,266 |
Equity Shares |
Rs. 10/- each |
Rs. 5.073
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 |
5.073 |
5.073 |
5.073 |
|
(b) Reserves & Surplus |
33.654 |
25.911 |
8.877 |
|
(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) |
38.727 |
30.984 |
13.950 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.023 |
0.000 |
|
(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) |
0.000 |
0.023 |
0.000 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
(b)
Trade payables |
53.099 |
40.682 |
2.450 |
|
(c)
Other current liabilities |
4.121 |
4.237 |
1.021 |
|
(d)
Short-term provisions |
1.235 |
2.311 |
1.476 |
|
Total
Current Liabilities (4) |
58.455 |
47.230 |
4.947 |
|
|
|
|
|
|
TOTAL |
97.182 |
78.237 |
18.897 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
0.987 |
1.899 |
2.045 |
|
(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) |
0.180 |
0.000 |
0.072 |
|
(d) Long-term Loan
and Advances |
1.225 |
1.225 |
1.225 |
|
(e)
Other Non-current assets |
0.110 |
0.110 |
0.000 |
|
Total
Non-Current Assets |
2.502 |
3.234 |
3.342 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
32.800 |
18.884 |
4.026 |
|
(c)
Trade receivables |
45.667 |
33.449 |
6.216 |
|
(d)
Cash and cash equivalents |
11.514 |
18.553 |
3.653 |
|
(e)
Short-term loans and advances |
4.690 |
4.098 |
1.660 |
|
(f)
Other current assets |
0.009 |
0.019 |
0.000 |
|
Total
Current Assets |
94.680 |
75.003 |
15.555 |
|
|
|
|
|
|
TOTAL |
97.182 |
78.237 |
18.897 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from Operations |
294.274 |
|
|
|
|
|
Other Income |
0.000 |
0.000 |
|
|
|
|
TOTAL |
294.274 |
157.339 |
84.321 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
55.416 |
43.036 |
|
|
|
|
Purchases of Stock-in-Trade |
191.524 |
74.805 |
|
|
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
(13.915) |
(14.858) |
|
|
|
|
Employees benefits expense |
12.836 |
9.620 |
|
|
|
|
Other expenses |
36.841 |
18.644 |
|
|
|
|
TOTAL |
282.702 |
131.247 |
77.859 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
11.572 |
26.092 |
(Including
Interest and Depreciation Expenses) |
|
|
|
|
|
|
|
|
|
Less |
INTEREST
EXPENSES |
0.085 |
0.331 |
|
|
|
|
|
|
|
|
|
|
Add |
INTEREST INCOME
ON BANK DEPOSITS |
1.425 |
0.266 |
|
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
12.912 |
26.027 |
|
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
1.110 |
0.598 |
|
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
11.802 |
25.429 |
6.462 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
4.059 |
8.396 |
2.076 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
7.743 |
17.033 |
4.386 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Exports at FOB Value |
0.000 |
0.724 |
1.865 |
|
|
|
Income from rendering sales support services |
41.966 |
24.455 |
24.263 |
|
|
TOTAL EARNINGS |
41.966 |
25.179 |
26.128 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
50.671 |
39.583 |
14.560 |
|
|
|
Traded Goods |
136.552 |
57.113 |
29.772 |
|
|
|
Capital Goods |
0.000 |
0.000 |
0.762 |
|
|
TOTAL IMPORTS |
187.223 |
96.696 |
45.094 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
15.26 |
33.58 |
8.65 |
|
|
PARTICULARS |
|
|
31.03.2015 |
|
Sales Turnover (Approximately) |
|
|
500.000 |
|
|
|
|
|
Expected Sales (2015-2016): Rs.1250.000 Million
The above information has been parted by Mr. Sundaram [Operation Head]
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) |
(%) |
2.63 |
10.83 |
NA |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/Sales) |
(%) |
3.93 |
16.58 |
NA |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
12.17 |
32.50 |
34.33 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.30 |
0.82 |
0.46 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.62 |
1.59 |
3.14 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particulars |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Share Capital |
5.073 |
5.073 |
5.073 |
|
Reserves & Surplus |
8.877 |
25.911 |
33.654 |
|
Money received against share warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
13.950 |
30.984 |
38.727 |
|
|
|
|
|
|
Long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Total
borrowings |
0.000 |
0.000 |
0.000 |
|
Debt/Equity ratio |
0.000 |
0.000 |
0.000 |
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 |
84.321 |
157.339 |
294.274 |
|
|
|
86.595 |
87.032 |
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 |
84.321 |
157.339 |
294.274 |
|
Profit |
4.386 |
17.033 |
7.743 |
|
|
5.20% |
10.83% |
2.63% |
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 |
No |
|
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 |
Yes |
|
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 |
INDEX OF CHARGES: NO
CHARGES EXIST FOR COMPANY
CORPORATE
INFORMATION
Subject was incorporated on 21 August 2009 as a private limited company
under the Companies Act, 1956. The principal shareholders of the company are
Nynas AB [holding company] a private limited company incorporated in Sweden
holding 99.80% of equity shares and the balance share is held by Nynas Oil
Import AB a private limited company incorporated in Sweden.
The principal activity of the company is to carry on the business of
trading in naphthenic specialty oils and to provide sales support services to
the Group Company.
FIXED ASSETS:
· Computers
· Furniture and Fixture
· Office Equipment
· Leasehold Improvement
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. 66.09 |
|
|
1 |
Rs. 101.04 |
|
Euro |
1 |
Rs. 70.86 |
INFORMATION DETAILS
|
Information Gathered
by : |
SVA |
|
|
|
|
Analysis Done by
: |
TRI |
|
|
|
|
Report Prepared
by : |
BVA |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
7 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
59 |
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.