MIRA INFORM REPORT
|
Report No. : |
350917 |
|
Report Date : |
24.11.2015 |
IDENTIFICATION DETAILS
|
Name : |
CHINMAY IMPEX PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
502, Aatish Annexie, Near Samarpamn Flat, IDBI Bank Cross Road, Gulbai
Tekra, Ahmedabad – 380015, Gujarat |
|
Mob. No.: |
91-9825238149 (Mr. Yogesh Kumar Majithiya) |
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|
|
|
Country : |
India |
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|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
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Date of Incorporation
: |
15.05.2009 |
|
|
|
|
Com. Reg. No.: |
04-056952 |
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|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 0.410 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U51900GJ2009PTC056952 |
|
|
|
|
IEC No.: |
0809005867 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
AHMC03258D |
|
|
|
|
PAN No.: [Permanent Account No.] |
AADCC6478J |
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|
|
|
Legal Form : |
Private Limited Liability Company |
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|
|
|
Line of Business
: |
Trader and Importer of Ferrous and Non-Ferrous Metal Scrap. |
|
|
|
|
No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
B (26) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject was incorporated in the year 2009 having moderate track. Management has filed financials for the year 2015 with Registrar of
Companies, but it could not be made available from any source. For the year 2014, the company has achieved average revenue base
market by minimal profit margin. The company possesses small net worth base marked by huge debt levels
and moderate cash accruals. However, trade relations are fair. Business is active. Payments are
slow but correct. The company can be considered for business dealings with some caution.
|
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
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 DECLINED BY
|
Name : |
Mr. Yogesh Kumar Majithiya |
|
Designation : |
Director |
|
Contact No.: |
91-9825238149 |
|
Date : |
21.11.2015 |
LOCATIONS
|
Registered/ Head Office : |
502, Aatish Annexie, Near Samarpamn Flat, IDBI Bank Cross Road, Gulbai
Tekra, Ahmedabad – 380015, Gujarat, India |
|
Tel. No.: |
91-79-40048067 |
|
Mobile No.: |
91-9825238149 (Mr. Yogesh Kumar Majithiya) |
|
Fax No.: |
91-79-40048023 |
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E-Mail : |
|
|
Website : |
|
|
|
|
|
Branch Office : |
B/204, Miraambika School Road, Sukhotower, Naranpura, Ahmedabad –
380013, Gujarat, India |
|
Tel. No.: |
91-79-40048067 |
|
|
|
|
Warehouse : |
Plot No 8-9, DC-2, Bharatnagar Industrial Area, Bh Gurukul, Gandhidham, Kutch-370201, Gujarat, India |
|
Tel. No.: |
91-2836-257572 |
|
Fax No.: |
91-2836-257572 |
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E-Mail : |
|
|
|
|
|
Associate Firm in
USA: |
Gold Star Metals LLC, 7944, Dockal Road, Houston, Texas - 77028, USA |
|
Tel. No.: |
91-713-633-6800 |
|
Fax No.: |
91-713-633-6802 |
|
E-Mail : |
DIRECTORS
AS ON 30.09.2014
|
Name : |
Mr. Yogeshkumar Chinubhai Majethiya |
|
Designation : |
Director |
|
Address : |
07, New Nikita Park Society, Opposite Gurukul, Near Uganda Society Solaroad, Ahmedabad - 380063, Gujarat, India |
|
Date of Birth/Age : |
17.12.1979 |
|
Date of Appointment : |
15.05.2009 |
|
PAN No.: |
AFXPM7246N |
|
DIN No.: |
01317235 |
|
|
|
|
Name : |
Mr. Chinubhai Manilal Majithiya |
|
Designation : |
Director |
|
Address : |
Bhabhar, Bhabhar, B. K, Bhabhar - 385320, Gujarat, India |
|
Date of Birth/Age : |
16.02.1956 |
|
Date of Appointment : |
15.05.2009 |
|
PAN No.: |
AAXPT0200E |
|
DIN No.: |
01910237 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2014
|
Names of Shareholders |
|
No. of Shares |
|
Chinubhai M. Majithiya |
|
8500 |
|
Bhagwatiben C. Majiyhiya |
|
200 |
|
Hasmukhlal M. Thakkar |
|
200 |
|
Himanshu C. Majithiya |
|
200 |
|
Jayshree B. Raiya |
|
200 |
|
Kalpanaben C. Majihiya |
|
200 |
|
Perfect Enterprice INC (USA) |
|
12000 |
|
Yogesh C. Majithiya HUF |
|
200 |
|
Yogeshkumar C. Majithiya |
|
8500 |
|
Jasminaben Nikunjbhai Rtani |
|
5000 |
|
Nikunjbhai Ratani |
|
5000 |
|
Chinubhai Manilal Majithiya HUF |
|
200 |
|
Hasmukhlal Manilal Thakker HUF |
|
200 |
|
Jignesh B Ratani |
|
200 |
|
Manoj B Ratani |
|
200 |
|
|
|
|
|
Total |
|
41000 |
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] |
29.27 |
|
Directors
or relatives of directors |
70.73 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Trader and Importer of Ferrous and Non-Ferrous Metal Scrap. |
|
|
|
|
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 : |
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Selling : |
Not Divulged |
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Purchasing : |
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 : |
· HDFC Bank Limited HDFC Bank Housesenapati Bapat Marg, Lower Parel (West), Mumbai - 400013, Maharashtra, India |
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Facilities : |
|
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Auditors : |
|
|
Name : |
Nisarg J Shah and Company Chartered Accountants |
|
Address : |
3SF Ratnam, C. G. Road, Ahmedabad-380006, Gujarat, India |
|
Tel. No.: |
91-79-26462476 |
|
Mobile No.: |
91-9825300573 |
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E-Mail : |
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Income-tax
PAN of auditor or auditor's firm : |
AAHFN7292E |
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|
|
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Memberships : |
-- |
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|
|
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Collaborators : |
-- |
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|
|
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Associates/Subsidiaries : |
Not Available |
CAPITAL STRUCTURE
AS ON 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
50,000 |
Equity Shares |
Rs. 10/- each |
Rs. 0.500 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
41,000 |
Equity Shares |
Rs. 10/- each |
Rs. 0.410
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 |
0.410 |
0.406 |
0.406 |
|
(b) Reserves & Surplus |
2.934 |
2.251 |
1.273 |
|
(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) |
3.344 |
2.657 |
1.679 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
62.174 |
60.211 |
52.087 |
|
(b) Deferred tax liabilities (Net) |
0.178 |
0.133 |
0.102 |
|
(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) |
62.352 |
60.344 |
52.189 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
16.466 |
17.844 |
4.239 |
|
(b)
Trade payables |
22.712 |
42.069 |
20.186 |
|
(c)
Other current liabilities |
3.924 |
5.759 |
1.835 |
|
(d)
Short-term provisions |
1.200 |
0.895 |
0.646 |
|
Total
Current Liabilities (4) |
44.302 |
66.567 |
26.906 |
|
|
|
|
|
|
TOTAL |
109.998 |
129.568 |
80.774 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
3.990 |
2.988 |
3.345 |
|
(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 |
0.070 |
0.070 |
0.070 |
|
(e)
Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
4.060 |
3.058 |
3.415 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
2.186 |
0.026 |
0.030 |
|
(b)
Inventories |
32.834 |
89.078 |
51.972 |
|
(c)
Trade receivables |
59.179 |
27.264 |
18.042 |
|
(d)
Cash and cash equivalents |
1.604 |
1.344 |
0.287 |
|
(e)
Short-term loans and advances |
10.135 |
8.798 |
7.028 |
|
(f)
Other current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
105.938 |
126.510 |
77.359 |
|
|
|
|
|
|
TOTAL |
109.998 |
129.568 |
80.774 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from Operations |
213.398 |
148.962 |
|
|
|
|
Other Income |
4.530 |
4.475 |
|
|
|
|
TOTAL (A) |
217.928 |
153.437 |
NA |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
114.219 |
136.128 |
|
|
|
|
Administrative Expenses |
56.244 |
(37.105) |
|
|
|
|
|
1.871 |
2.370 |
|
|
|
|
Advertising Expenses |
33.934 |
41.412 |
|
|
|
|
TOTAL (B) |
206.268 |
142.805 |
NA |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
11.660 |
10.632 |
(Including Financial and Depreciation Expenses) |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
10.292 |
8.773 |
|
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
1.368 |
1.859 |
|
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
0.339 |
0.369 |
|
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F)
(G) |
1.029 |
1.490 |
1.075 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
0.346 |
0.511 |
0.328 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-H) (I) |
0.683 |
0.979 |
0.747 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
16.66 |
24.11 |
18.40 |
|
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current Maturities of Long term debt |
1.017 |
0.742 |
0.655 |
|
|
|
|
|
|
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) |
(%) |
0.32 |
0.66 |
NA |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/Sales) |
(%) |
5.46 |
7.14 |
NA |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.94 |
1.15 |
1.33 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.31 |
0.56 |
0.64 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
23.82 |
29.66 |
33.94 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.39 |
1.90 |
2.88 |
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 |
0.406 |
0.406 |
0.410 |
|
Reserves & Surplus |
1.273 |
2.251 |
2.934 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
1.679 |
2.657 |
3.344 |
|
|
|
|
|
|
Long-term borrowings |
52.087 |
60.211 |
62.174 |
|
Short term borrowings |
4.239 |
17.844 |
16.466 |
|
CURRENT MATURITIES OF
LONG-TERM DEBTS |
0.655 |
0.742 |
1.017 |
|
Total
borrowings |
56.981 |
78.797 |
79.657 |
|
Debt/Equity
ratio |
33.937 |
29.656 |
23.821 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
|
Sales |
148.962 |
213.398 |
|
|
|
43.257 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
|
Sales |
148.962 |
213.398 |
|
Profit |
0.979 |
0.683 |
|
|
0.66% |
0.32% |
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 |
10314609 |
10/07/2014
* |
37,500,000.00 |
HDFC
BANK LIMITED |
HDFC BANK
HOUSESENAPATI BAPAT MARG, LOWER PAREL (WEST), MUMBAI - 400013, MAHARASHTRA,
INDIA |
C11620010 |
* Date of charge modification
UNSECURED LOANS
|
PARTICULARS |
31.03.2014 (Rs.
In Million) |
31.03.2013 (Rs.
In Million) |
|
LONG-TERM BORROWINGS |
|
|
|
From Directory |
8.316 |
2.625 |
|
From Shareholder |
53.218 |
57.340 |
|
|
|
|
|
Total |
61.534 |
59.965 |
FIXED ASSETS:
· Land
· Office Buildings
· Guest House Building
· Factory Buildings
· Plant and Equipment
· Electrical Installations
· Laboratory Equipment’s
· Furniture and Fixtures
· Vehicles
· Office equipment
· Computers
· Moulding Boxes, Patterns and Pattern Plates
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.66.35 |
|
|
1 |
Rs.100.66 |
|
Euro |
1 |
Rs.70.47 |
INFORMATION DETAILS
|
Information
Gathered by : |
SUP |
|
|
|
|
Analysis Done by
: |
AMR |
|
|
|
|
Report Prepared
by : |
ARC |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
2 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
|
26 |
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.