MIRA INFORM REPORT
|
Report No. : |
351892 |
|
Report Date : |
30.11.2015 |
IDENTIFICATION DETAILS
|
Name : |
SAMRAT GEMS IMPEX PRIVATE LIMITED (w.e.f.23.09.2008) |
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Formerly Known
As : |
SAMRAT GLOBAL PRIVATE LIMITED (w.e.f. 07.01.2008) SAMRAT GEMS IMPEX PRIVATE LIMITED |
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Registered
Office : |
Unit No 13, Plot No. 17, Marol Co. Operative Industrial Estate, M. V.
Road, Marol, Andheri (East), Mumbai-400059, Maharashtra |
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Tel. No.: |
91-22-6768377 |
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Country : |
India |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
17.12.1984 |
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Com. Reg. No.: |
11-034823 |
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Capital
Investment / Paid-up Capital : |
Rs. 40.000 Million |
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CIN No.: [Company Identification
No.] |
U51398MH1984PTC034823 |
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IEC No.: |
0391132661 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
AAACS5945H |
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Legal Form : |
Private Limited Liability Company. |
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Line of Business
: |
Manufacturing and Exporting of Garment. |
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No. of Employees
: |
1000 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (30) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Exist |
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Comments : |
Subject is an established company incorporated in the year 1984 having
moderate track. Subject engaged in manufacturing and exporting of garments. The rating reflects company’s moderate financial risk profile marked by
low profit margin and huge borrowings recorded by the company. Further the rating also takes into consideration unfavorable gap
between trade payables and trade receivables. Moreover, the rating weakness is partially offset by long established
track record of business operation. Trade relations are reported as fair. Business is active. Payments
terms are reported to be 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.
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
|
Rating Agency Name |
INDIA RATING |
|
Rating |
Long Term = BB- |
|
Rating Explanation |
Moderate risk of default |
|
Date |
October 2015 |
|
Rating Agency Name |
INDIA RATING |
|
Rating |
Short Term – A4+ |
|
Rating Explanation |
Minimal degree of safety and carry very high credit risk |
|
Date |
October 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 PARTED BY (GENERAL DETAILS)
|
Name : |
Mr. Samir Thakur |
|
Designation : |
Chief Finance Officer |
|
Contact No.: |
91-22-67683777 |
|
Date : |
27.11.2015 |
LOCATIONS
|
Registered Office : |
Unit No 13, Plot No. 17, Marol Co. Operative Industrial Estate, M. V.
Road, Marol, Andheri (East), Mumbai-400059, Maharashtra, India |
|
Tel. No.: |
91-22-6768377 |
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Mobile No.: |
91-9820055525 (Mr. Rajiv) |
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Fax No.: |
91-22-28518311 |
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E-Mail : |
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Website : |
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Location : |
Owned |
|
Locality : |
Commercial |
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Factory 1 : |
Unit No: 109-112 and 116-124, Building # AQ-2, 1st Floor, Shri Rajlaxmi
Complex, Village : Kalher, Old Agra Road, Bhiwandi, Thane-421302,
Maharashtra, India |
|
|
|
|
Factory 2 : |
Plot No 201, 3rd Phase,
Bommasandra Industrial Area, KIADB, Hosur Main Road Bangalore-560 099,
Karnataka, India |
DIRECTORS
AS ON 30.09.2014
|
Name : |
Mr. Shyamlal Kanshiram Sharma |
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Designation : |
Director |
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Address : |
502, Marble Arch 94 Pali Hill Bandra (West), Mumabi-40050,
Maharashtra, India |
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Date of Birth/Age : |
20.08.1938 |
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Date of Appointment : |
17.12.1984 |
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DIN No.: |
01129794 |
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Name : |
Mr. Rajiv Shyamlal Sharma |
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Designation : |
Director |
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Address : |
502, Marble Arch 94 Pali Hill Bandra (West), Mumabi-40050,
Maharashtra, India |
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Date of Birth/Age : |
21.10.1966 |
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Date of Appointment : |
17.12.1984 |
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DIN No.: |
01129863 |
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Other
Directorship :
|
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KEY EXECUTIVES
|
Name : |
Mr. Samir Thakur |
|
Designation : |
Chief Finance Officer |
MAJOR SHAREHOLDERS
AS ON 30.09.2014
|
Names of Shareholders |
No. of Shares |
Percentage |
|
Shyamlal Kanshiram Sharma |
161,060 |
40.27 |
|
Rajiv Shyamlal Sharma |
182,410 |
45.60 |
|
Suphlarani S. Sharma |
42,240 |
10.56 |
|
Ritu Rajiv Sharma |
14,290 |
3.57 |
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|
|
|
|
Total |
400,000 |
100.00 |
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 : |
Manufacturing and Exporting of Garment. |
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Products : |
Not Divulged |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
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Products : |
Finished Goods |
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Countries : |
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Imports : |
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Products : |
Raw Material |
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Countries : |
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Terms : |
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Selling : |
Cash, L/C and Credit (60 days) |
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Purchasing : |
Cash, L/C and Credit (60 days) |
PRODUCTION STATUS: NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
Wholesalers, Retailers and Manufacturer
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No. of Employees : |
1000 (Approximately) |
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Bankers : |
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Facilities : |
(Rs.
In Million)
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Auditors : |
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|
Name : |
Thanawala and Company Chartered Accountants |
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Address : |
505, Abhay Steel House, 5th Floor, Baroda Street, Iron Market,
Mumbai-400009, Maharashtra, India |
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Tel. No.: |
91-22-23486679/23484336 |
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Fax No.: |
91-22-23481151 |
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PAN No.: |
AAAPT3237C |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Associates/Subsidiaries : |
-- |
CAPITAL STRUCTURE
AS ON 30.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
400000 |
Equity Shares |
Rs.100/- each |
Rs. 40.000 Million |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
|
|
|
|
400000 |
Equity Shares |
Rs.100/- each |
Rs. 40.000
Million |
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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 |
40.000 |
40.000 |
40.000 |
|
(b) Reserves & Surplus |
29.571 |
29.316 |
26.380 |
|
(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) |
69.571 |
69.316 |
66.380 |
|
|
|
|
|
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(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
108.888 |
139.322 |
118.955 |
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(b) Deferred tax liabilities (Net) |
1.828 |
1.972 |
2.358 |
|
(c) Other long term
liabilities |
9.460 |
1.125 |
2.181 |
|
(d) long-term
provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
120.176 |
142.419 |
123.494 |
|
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|
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(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
321.268 |
227.100 |
227.573 |
|
(b) Trade
payables |
105.907 |
118.723 |
78.811 |
|
(c) Other
current liabilities |
4.685 |
5.273 |
1.966 |
|
(d) Short-term
provisions |
18.800 |
13.710 |
7.938 |
|
Total Current
Liabilities (4) |
450.660 |
364.806 |
316.288 |
|
|
|
|
|
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TOTAL |
640.407 |
576.541 |
506.162 |
|
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|
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II.
ASSETS |
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|
|
|
(1)
Non-current assets |
|
|
|
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(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
66.920 |
63.995 |
84.605 |
|
(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 |
2.059 |
0.000 |
0.000 |
|
(b) Non-current Investments |
2.474 |
2.499 |
0.530 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
8.617 |
7.276 |
5.805 |
|
(e) Other
Non-current assets |
0.071 |
0.130 |
0.189 |
|
Total Non-Current
Assets |
80.141 |
73.900 |
91.129 |
|
|
|
|
|
|
(2) Current
assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
190.487 |
178.100 |
183.033 |
|
(c) Trade
receivables |
241.001 |
268.989 |
169.837 |
|
(d) Cash
and cash equivalents |
12.800 |
10.571 |
11.685 |
|
(e) Short-term
loans and advances |
7.032 |
4.238 |
4.671 |
|
(f) Other
current assets |
108.946 |
40.743 |
45.807 |
|
Total
Current Assets |
560.266 |
502.641 |
415.033 |
|
|
|
|
|
|
TOTAL |
640.407 |
576.541 |
506.162 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
|
|
|
|
|
Income |
|
|
|
|
|
Other Income |
|
|
|
|
|
TOTAL |
791.747 |
660.717 |
559.385 |
|
|
|
|
|
|
|
|
EXPENSES |
|
|
|
|
|
TOTAL |
790.743 |
657.030 |
562.188 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
0.666 |
2.550 |
0.723 |
|
|
|
|
|
|
|
Less |
TAX |
0.412 |
-0.386 |
1.491 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
0.254 |
2.936 |
(0.768) |
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
0.63 |
7.34 |
(1.92) |
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) |
(%) |
0.03 |
0.44 |
-0.14 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.10 |
0.44 |
0.14 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.01 |
0.04 |
0.01 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
6.18 |
5.29 |
5.22 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.24 |
1.38 |
1.31 |
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 |
40.000 |
40.000 |
40.000 |
|
Reserves & Surplus |
26.380 |
29.316 |
29.571 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
66.380 |
69.316 |
69.571 |
|
|
|
|
|
|
long-term borrowings |
118.955 |
139.322 |
108.888 |
|
Short term borrowings |
227.573 |
227.100 |
321.268 |
|
Total
borrowings |
346.528 |
366.422 |
430.156 |
|
Debt/Equity
ratio |
5.220 |
5.286 |
6.183 |
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) |
|
Income |
559.385 |
660.717 |
791.747 |
|
|
|
18.115 |
19.831 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Income |
559.385 |
660.717 |
791.747 |
|
Profit |
(0.768) |
2.936 |
0.254 |
|
|
(0.14%) |
0.44% |
0.03% |
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 |
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 |
Yes |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
Yes |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
NOTE: Registered office of the company has been
shifted from Patel Engg Co., Compound Opposite S V Road, Jogeshwari, Mumbai –
400102, Maharashtra, India to the present
address w.e.f. 01.10.2007.
LITIGATION DETAILS
|
HIGH COURT OF
BOMBAY |
|
CASE DETAILS BENCH: BOMBAY |
|
Presentation
Date:- 28/10/2015 |
|
|
|
Main
Matter Reg. No.:- CP/672/2014 Reg. Date :- 26/09/2014 |
|
Petitioner: RAJGOPAL CREATION- Respondent:
SMARAT GEMS IMPEX PVT. LTD-
Petn. Adv :RAKESH G JAIN (0) District: MUMBAI |
|
Bench: SINGLE Status: PRE-ADMISSION
Category: EXECUTION APPLICATIONS
Stage:
FOR DIRECRION (COMPANY MATTERS) |
|
Act: Code of Civil Procedure 1908 |
UNSECURED LOAN
(Rs.
In Million)
|
Particulars |
As
on 31.03.2014 |
As
on 31.03.2013 |
|
LONG TERM
BORROWING |
|
|
|
From other – Financials |
0.000 |
0.340 |
|
From other related party |
0.389 |
13.530 |
|
From others |
58.700 |
69.200 |
|
|
|
|
|
Total |
59.089 |
83.070 |
|
|
|
|
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10013580 |
05/08/2006 |
20,000,000.00 |
CANARA BANK |
FORT MARKET BRANCH, FERRE ROAD, MUMBAI, Maharashtra - 400038, INDIA |
A03284528 |
|
2 |
10012577 |
13/07/2006 |
16,000,000.00 |
CANARA BANK |
FORT MARKET BRANCH, FERRE ROAD, MUMBAI, Maharashtra - 400038, INDIA |
A02699890 |
|
3 |
90241549 |
12/08/2005 |
2,000,000.00 |
CANARA BANK |
FORT MARKET BR.;FRERE ROAD FORT, MUMBAI, Maharashtra - 400038, INDIA |
- |
|
4 |
90241534 |
20/07/2005 |
1,200,000.00 |
CANARA BANK |
FORT MARKET BR.;FRERE ROAD FORT, MUMBAI, Maharashtra - 400038, INDIA |
- |
|
5 |
90244470 |
02/01/2009 * |
30,000,000.00 |
Canara Bank |
Fort Market Branch, Padyan House, Fort Market, Mumbai, Maharashtra - 400038, INDIA |
A60205424 |
|
6 |
80002334 |
08/01/2014 * |
319,500,000.00 |
Canara Bank |
Fort Market Branch, Padyan House, Frere Road, Fort Market, Mumbai, Maharashtra - 400038, INDIA |
B97549687 |
|
7 |
90240776 |
20/01/2005 * |
8,500,000.00 |
CANARA BANK |
FORT MARKET BR.;FRERE ROAD FORT, MUMBAI, Maharashtra - 400038, INDIA |
- |
* Date of charge modification
FIXED ASSETS
- Building
- Plant and
Machinery
- Furniture and
Fixture
- Office
Equipments
- Computer
- Vehicles
- Software
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. 66.75 |
|
UK Pound |
1 |
Rs. 100.68 |
|
Euro |
1 |
Rs. 70.88 |
INFORMATION DETAILS
|
Information
Gathered by : |
KMN |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
JYO |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILITY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
YES |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
30 |
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.