MIRA INFORM REPORT
|
Report No. : |
350432 |
|
Report Date : |
27.11.2015 |
IDENTIFICATION DETAILS
|
Name : |
SANGEETHA MOBILES PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
#1183, 22nd A Cross,
30th Main, Near KIMS College Signal, Banashankari 2nd Stage, Bangalore – 560070,
Karnataka |
|
Tel. No.: |
91-80-49397000/ 49397111 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
21.08.2008 |
|
|
|
|
Com. Reg. No.: |
08-047525 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 46.000 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U51909KA2008PTC047525 |
|
|
|
|
IEC No.: |
0710002360 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
BLRS30835A |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAMCS5916J |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
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|
|
|
Line of Business
: |
Subject is engaged in the
business of retail trading of Mobile Phones and Mobile Accessories. |
|
|
|
|
No. of Employees
: |
Not Divulged |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (51) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
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|
|
|
Comments : |
Subject is an established company incorporated in the year 2008. It
deals into trading and distributing of Mobile Phones and Accessories. The company has healthy scale of operations marked by decent top line
growth on revenue of Rs.7739.258 Million as compared to Rs. 4976.705 Million
in previous year along with profitability margin of 1.2% in the FY14. Rating takes into consideration company’s decent financial position
and improvement in debt coverage indicators. Trade relations are fair. Business is active. Payments are regular. 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 DECLINED BY
|
Name : |
Mr. Devendra Raju |
|
Designation : |
Accounts Manager |
|
Contact No.: |
91-9986486986 |
|
Date : |
20.11.2015 |
LOCATIONS
|
Registered Office : |
#1183, 22nd A Cross,
30th Main, Near KIMS College Signal, Banashankari 2nd Stage, Bangalore – 560070,
Karnataka, India |
|
Tel. No.: |
91-80-49397000/ 49397111 |
|
Mobile No.: |
91-9986486986 [Mr. Devendra Raju] |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Website : |
DIRECTORS
AS ON 30.09.2014
|
Name : |
Mr. Subhashchandra Lukku Reddy |
|
Designation : |
Director |
|
Address : |
No 85/2, 1st A Cross, 7th Main, Jayanagar 2nd Block, Bangalore - 560011, Karnataka, India |
|
Date of Birth/Age : |
21.01.1966 |
|
Date of Appointment : |
21.08.2008 |
|
PAN No.: |
ABHPR5659N |
|
DIN No.: |
02152263 |
|
|
|
|
Name : |
Mr. Lukku Bharathi |
|
Designation : |
Director |
|
Address : |
#47, Vandemataram, 12th Main, 3rd Block, Jayanagar, Bangalore - 560011, Karnataka, India |
|
Date of Birth/Age : |
15.08.1969 |
|
Date of Appointment : |
21.08.2008 |
|
PAN No.: |
AAQPB8268B |
|
DIN No.: |
02152268 |
|
|
|
|
Name : |
Mr. Narayana Reddy Lakkupenchala |
|
Designation : |
Director |
|
Address : |
85/2, 1st A-Cross, 7th Main, 2nd Block Jayanagar, Bangalore - 560011, Karnataka, India |
|
Date of Birth/Age : |
26.10.1943 |
|
Date of Appointment : |
21.08.2008 |
|
PAN No.: |
AAEPL0106E |
|
DIN No.: |
02192972 |
KEY EXECUTIVES
|
Name : |
Mr. Devendra Raju |
|
Designation : |
Accounts Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2014
|
Names of Shareholders |
|
No. of Shares |
|
Subhashchandra Lukku Reddy |
|
600000 |
|
Lukku Bharathi |
|
600000 |
|
Narayana Reddy Lakkupenchala |
|
600000 |
|
P.V. Bhaskara Reddy |
|
60000 |
|
Bhuvaneswari |
|
60000 |
|
Srinivasa C V |
|
40000 |
|
Rajendran C.S. |
|
40000 |
|
Anu Distributors, India |
|
2600000 |
|
|
|
|
|
Total |
|
4600000 |
AS ON 30.09.2014
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Directors
or relatives of directors |
43.48 |
|
Others |
56.52 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in the
business of retail trading of Mobile Phones and Mobile Accessories. |
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Products : |
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Brand Names : |
“SANGEETHA” |
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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
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Suppliers : |
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Customers : |
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No. of Employees : |
Not Divulged |
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Bankers : |
· HDFC Bank Limited HDFC Bank House, Senapati Bapat Marg, Lower Parel [West], Mumbai – 400013, Maharashtra, India · HDFC Bank Limited No 8/24, Salco Centre, Richmond Road, Bangalore - 560025, Karnataka, India |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
|
|
Name : |
Raghavan, Chaudhari and Narayanan Chartered Accountants |
|
Address : |
Second Floor, Casa Capital, Ashoknagar, Wood Street, Bangalore –
560025, Karnataka, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AAAFR9640K |
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|
|
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Memberships : |
-- |
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Collaborators : |
-- |
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|
|
|
Subsidiaries : |
Wham Infocom Private Limited [U32204KA2013PTC067582] |
|
|
|
|
Associates : |
Anu Distributors Private Limited |
CAPITAL STRUCTURE
AS ON 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4,600,000 |
Equity Shares |
Rs. 10/- each |
Rs. 46.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4,600,000 |
Equity Shares |
Rs. 10/- each |
Rs. 46.000 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 |
46.000 |
46.000 |
46.000 |
|
(b) Reserves & Surplus |
415.163 |
281.324 |
180.028 |
|
(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) |
461.163 |
327.324 |
226.028 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
4.458 |
18.986 |
31.402 |
|
(b) Deferred tax liabilities (Net) |
22.099 |
18.540 |
15.509 |
|
(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) |
26.557 |
37.526 |
46.911 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
259.759 |
175.410 |
111.085 |
|
(b)
Trade payables |
680.882 |
446.983 |
273.095 |
|
(c)
Other current liabilities |
38.503 |
41.581 |
25.990 |
|
(d)
Short-term provisions |
81.865 |
53.617 |
34.973 |
|
Total
Current Liabilities (4) |
1061.009 |
717.591 |
445.143 |
|
|
|
|
|
|
TOTAL |
1548.729 |
1082.441 |
718.082 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
197.661 |
128.767 |
98.487 |
|
(ii)
Intangible Assets |
105.043 |
105.043 |
105.043 |
|
(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 |
10.400 |
10.400 |
0.500 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan
and Advances |
152.901 |
107.106 |
55.140 |
|
(e)
Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
466.005 |
351.316 |
259.170 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
821.438 |
571.264 |
342.173 |
|
(c)
Trade receivables |
85.790 |
54.091 |
83.420 |
|
(d)
Cash and cash equivalents |
120.794 |
69.410 |
15.157 |
|
(e)
Short-term loans and advances |
54.702 |
35.447 |
17.638 |
|
(f)
Other current assets |
0.000 |
0.913 |
0.524 |
|
Total
Current Assets |
1082.724 |
731.125 |
458.912 |
|
|
|
|
|
|
TOTAL |
1548.729 |
1082.441 |
718.082 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
TOTAL |
7739.258 |
4976.705 |
3981.101 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
7494.309 |
4799.385 |
3869.861 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
244.949 |
177.320 |
111.240 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
33.392 |
22.149 |
20.128 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
211.557 |
155.171 |
91.112 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
77.718 |
53.874 |
31.689 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
133.839 |
101.297 |
59.423 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
29.10 |
22.02 |
12.92 |
|
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current Maturities of Long term debt |
12.176 |
19.638 |
10.234 |
|
|
|
|
|
|
Cash generated from operations |
NA |
NA |
NA |
|
|
|
|
|
|
Net Cash flow from (used in) Operations |
249.012 |
176.846 |
(0.040) |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
13.75 |
14.47 |
12.70 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.46 |
0.47 |
0.40 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.60 |
0.65 |
0.68 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.02 |
1.02 |
1.03 |
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 |
46.000 |
46.000 |
46.000 |
|
Reserves & Surplus |
180.028 |
281.324 |
415.163 |
|
Money received against share warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
226.028 |
327.324 |
461.163 |
|
|
|
|
|
|
Long-term borrowings |
31.402 |
18.986 |
4.458 |
|
Short term borrowings |
111.085 |
175.410 |
259.759 |
|
CURRENT MATURITIES OF LONG-TERM DEBTS |
10.234 |
19.638 |
12.176 |
|
Total
borrowings |
152.721 |
214.034 |
276.393 |
|
Debt/Equity ratio |
0.676 |
0.654 |
0.599 |
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 |
3981.101 |
4976.705 |
7739.258 |
|
|
|
25.008 |
55.510 |
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 |
3981.101 |
4976.705 |
7739.258 |
|
Profit |
59.423 |
101.297 |
133.839 |
|
|
1.49% |
2.04% |
1.73% |
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 |
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 |
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 |
10575012 |
29/05/2015 |
100,000,000.00 |
HDFC BANK LIMITED |
NO 8/24, SALCO CENTRE,
RICHMOND ROAD, BANGALORE, |
C56488968 |
|
2 |
10534376 |
17/09/2014 |
200,000,000.00 |
HDFC BANK LIMITED |
NO 8/24, SALCO CENTRE,
RICHMOND ROAD, BANGALORE, |
C35669142 |
|
3 |
10474489 |
16/12/2013 |
150,000,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSE SENAPATI
BAPAT MARG, LOWER PAREL |
B95050555 |
|
4 |
10450101 |
14/08/2013 |
187,500,000.00 |
STANDARD CHARTERED BANK |
112, SERENITY,
KORAMANGALA INDL AREA, 5TH BLOCK, |
B85403897 |
|
5 |
10200751 |
26/05/2012 * |
192,000,000.00 |
STANDARD CHARTERED BANK |
112, SERENITY,
KORAMANGALA INDL AREA, 5TH BLOCK, |
B41705849 |
* Date of charge modification
UNSECURED LOANS
|
PARTICULARS |
31.03.2014 (Rs.
In Million) |
31.03.2013 (Rs.
In Million) |
|
LONG-TERM BORROWINGS |
|
|
|
Loans and advances from related parties |
0.000 |
2.352 |
|
|
|
|
|
Total |
0.000 |
2.352 |
CHANGE OF ADDRESS:
The Registered Office of the company has been shifted from No. 47, J.C.
Road, Bangalore – 560002, Karnataka, India to the present address
w.e.f.16.11.2012.
GENERAL INFORMATION
Sangeetha Mobiles Private Limited
is in the business of retail trading of Mobile Phones and Mobile Accessories
under the brand name of SANGEETHA. It has 330 Stores across India.
The company started its
business as a partnership firm in 2001, subsequently it was converted in a Private
Limited Company on 21st August, 2008.
FIXED ASSETS:
·
Furniture and fixtures
·
Vehicles
·
Office equipment
·
Computer equipments
·
Other equipments
· Goodwill
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. 66.55 |
|
|
1 |
Rs. 100.64 |
|
Euro |
1 |
Rs. 70.70 |
INFORMATION DETAILS
|
Information Gathered
by : |
KMN |
|
|
|
|
Analysis Done by
: |
TRI |
|
|
|
|
Report Prepared
by : |
BVA |
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 |
6 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--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 |
|
51 |
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.