MIRA INFORM REPORT
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Report No. : |
343076 |
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Report Date : |
03.10.2015 |
IDENTIFICATION DETAILS
|
Name : |
KAJAY REMEDIES PRIVATE LIMITED |
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Registered
Office : |
Shed No. 18, Plot No. 27 and 53, Opposite Old MIDC Office, MIDC Industrial Area, Badlapur (East), Thane – 421503, Maharashtra |
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Tel. No.: |
91-251-2691010/2697252/4641 |
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Country : |
India |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
02.02.1989 |
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Com. Reg. No.: |
11-050560 |
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Capital
Investment / Paid-up Capital : |
Rs. 0.100 Million |
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CIN No.: [Company Identification
No.] |
U24110MH1989PTC050560 |
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IEC No.: |
0397009224 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
MUMK07437D |
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PAN No.: [Permanent Account No.] |
AAACK2114J |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer and Exporter of Pharma Base Chemicals. |
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No. of Employees
: |
45 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (30) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
USD 47300 |
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Status : |
Small Company |
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Payment Behavior : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject was incorporated in the year 1989 and It is into manufacturing
and exporting of pharma base chemical. For the FY14, the company has recorded profit of Rs. 0.18 Million
which has declined from Rs. 0.26 Million when compared to previous year. It
has small operation of activity. Ratings are also constrained due to moderate networth base, low cash
reserves, increase in its borrowing and unfavorable gap between trade
payables and receivables. However, trade relations are fair. Business is active. Payment are
reported to be slow but correct. The company can be considered for small 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 |
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Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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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 : |
Ms. Pragati Sawant |
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Designation : |
Accountant |
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Contact No.: |
91-251-2691010 |
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Date : |
01.10.2015 |
LOCATIONS
|
Registered Office / Factory : |
Shed No. 18, Plot No. 27 and 53, Opposite Old MIDC Office, MIDC Industrial Area, Badlapur (East), Thane – 421503, Maharashtra, India |
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Tel. No.: |
91-251-2691010/2697252/4641 |
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Fax No.: |
91-251-2694641 |
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E-Mail : |
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Website : |
DIRECTORS
AS ON 26.09.2014
|
Name : |
Mr. Ajay Jagdish Saboo |
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Designation : |
Managing Director |
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Address : |
902 Nandadevi, Neelkanth Valley, Rajawadi Road No. 7, Ghatkopar (East), Mumbai - 400077, Maharashtra, India |
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Date of Birth/Age : |
23.11.1965 |
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PAN No: |
AAFPS2523R |
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Election Commission ID : |
JLM0337717 |
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Date of Appointment : |
21.09.2002 |
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DIN No.: |
00996365 |
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Other Directorship:
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Name : |
Mrs. Meghama Ajay Saboo |
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Designation : |
Director |
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Address : |
902 Nandadevi, Neelkanth Valley, Rajawadi Road No. 7, Ghatkopar (East), Mumbai - 400077, Maharashtra, India |
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Date of Birth/Age : |
28.04.1970 |
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PAN No: |
ABCPS9849L |
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Election Commission ID : |
JLM0328906 |
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Date of Appointment : |
22.07.2000 |
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DIN No.: |
00989143 |
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KEY EXECUTIVES
|
Name : |
Ms. Pragati Sawant |
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Designation : |
Accountant |
MAJOR SHAREHOLDERS
AS ON 26.09.2014
|
Names of Shareholders |
|
No. of Shares |
|
Ajay Jagdish Saboo |
|
699 |
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Kamal Jagdish Saboo |
|
155 |
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Meghama Ajay Saboo |
|
136 |
|
J. C. Saboo (HUF) |
|
10 |
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Total |
|
1000 |
AS ON 02.03.2015
|
Names of Allottees |
|
No. of Allottes |
|
Ajay Jagdish Saboo |
|
2097 |
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Kamal Jagdish Saboo |
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465 |
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Meghama Ajay Saboo |
|
408 |
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J. C. Saboo (HUF) |
|
30 |
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Total |
|
3000 |
Equity Share Break up (Percentage of Total Equity)
AS ON 26.09.2014
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Exporter of Pharma Base Chemical |
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Products : |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
Not Available |
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Imports : |
Not Available |
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Terms : |
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Selling : |
Cash, L/C and Credit |
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Purchasing : |
Cash, L/C and Credit |
PRODUCTION STATUS: NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
Wholesalers, Retailers and End Users
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No. of Employees : |
45 (Approximately) |
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Bankers : |
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Facilities : |
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Auditors : |
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Name : |
Atul Dhiraj and Company Chartered Accountants |
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Address : |
Shop No.3 Ravi Kiran Apartment Sachin Society, Badlapur (East), Thane
– 421503, Maharashtra, India |
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Tel no : |
91-251-2693366 |
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PAN. No.: |
AAVFA3919R |
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Email : |
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Memberships : |
----- |
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Collaborators : |
----- |
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Associates/Subsidiaries : |
Not Available |
CAPITAL STRUCTURE
AFTER 26.09.2014
Authorised Capital : Rs. 1.000 Million
Issued, Subscribed & Paid-up Capital : Rs. 0.410
Million
AS ON 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
1000 |
Equity Shares |
Rs.100/- each |
Rs. 0.100 Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1000 |
Equity Shares |
Rs.100/- each |
Rs. 0.100 Million |
FINANCIAL DATA
[All figures are
in Rupees Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
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I.
EQUITY AND LIABILITIES |
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(1)Shareholders' Funds |
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(a) Share Capital |
0.100 |
0.100 |
0.100 |
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(b) Reserves &
Surplus |
16.487 |
16.259 |
15.595 |
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(c) Money received
against share warrants |
0.000 |
0.000 |
0.000 |
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(2) Share Application
money pending allotment |
0.000 |
0.000 |
0.000 |
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Total Shareholders’ Funds
(1) + (2) |
16.587 |
16.359 |
15.695 |
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(3) Non-Current
Liabilities |
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(a) long-term borrowings |
18.709 |
12.594 |
12.847 |
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(b) Deferred tax liabilities
(Net) |
0.000 |
0.000 |
0.000 |
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(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
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(d) long-term provisions |
0.000 |
0.000 |
0.000 |
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Total Non-current
Liabilities (3) |
18.709 |
12.594 |
12.847 |
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(4) Current Liabilities |
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(a) Short term borrowings |
0.000 |
0.000 |
0.000 |
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(b) Trade payables |
15.882 |
6.980 |
8.473 |
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(c) Other current
liabilities |
0.906 |
0.617 |
0.987 |
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(d) Short-term provisions |
0.076 |
0.061 |
0.551 |
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Total Current Liabilities
(4) |
16.864 |
7.658 |
10.011 |
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TOTAL |
52.160 |
36.611 |
38.553 |
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II.
ASSETS |
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(1) Non-current assets |
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(a) Fixed Assets |
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(i) Tangible assets |
22.278 |
22.541 |
21.789 |
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(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
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(iii) Capital
work-in-progress |
0.000 |
0.000 |
0.000 |
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(iv) Intangible assets
under development |
0.000 |
0.000 |
0.000 |
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(b) Non-current
Investments |
0.000 |
0.000 |
0.000 |
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(c) Deferred tax assets
(net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
0.000 |
0.000 |
0.000 |
|
(e) Other Non-current
assets |
0.000 |
0.000 |
0.000 |
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Total Non-Current Assets |
22.278 |
22.541 |
21.789 |
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(2) Current assets |
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(a) Current investments |
0.000 |
0.000 |
0.000 |
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(b) Inventories |
13.112 |
3.965 |
3.143 |
|
(c) Trade receivables |
7.105 |
6.962 |
11.237 |
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(d) Cash and cash
equivalents |
1.087 |
0.487 |
0.439 |
|
(e) Short-term loans and
advances |
1.398 |
0.320 |
1.945 |
|
(f) Other current assets |
7.180 |
2.336 |
0.000 |
|
Total Current Assets |
29.882 |
14.070 |
16.764 |
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|
|
|
|
|
TOTAL |
52.160 |
36.611 |
38.553 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
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|
|
|
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Revenue from
operations |
55.851 |
43.751 |
50.646 |
|
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Other Income |
0.616 |
0.479 |
3.150 |
|
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TOTAL |
56.467 |
44.230 |
53.797 |
|
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Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
51.833 |
34.849 |
38.538 |
|
|
Purchases of
Stock-in-Trade |
0.000 |
0.000 |
0.000 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(5.739) |
(1.094) |
0.000 |
|
|
Employees benefits
expense |
4.010 |
3.372 |
3.306 |
|
|
Other expenses |
3.092 |
3.971 |
5.941 |
|
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TOTAL |
53.196 |
41.098 |
47.786 |
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Less |
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION |
3.271 |
3.132 |
6.011 |
|
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|
|
|
Less |
FINANCIAL EXPENSES |
1.105 |
1.295 |
1.279 |
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|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION |
2.166 |
1.837 |
4.732 |
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Less/ Add |
DEPRECIATION/ AMORTISATION
|
1.766 |
1.512 |
1.838 |
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PROFIT/ (LOSS) BEFORE TAX |
0.400 |
0.325 |
2.894 |
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Less |
TAX |
0.219 |
0.061 |
0.551 |
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|
PROFIT/ (LOSS) AFTER TAX |
0.181 |
0.264 |
2.343 |
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|
Add |
PREVIOUS YEARS’ BALANCE
BROUGHT FORWARD |
2.812 |
2.048 |
1.726 |
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|
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|
Add |
ADJUSTMENTS FOR PREVIOUS
YEAR |
0.047 |
0.500 |
(0.022) |
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Less: |
SHORT
PROVISION FOR INCOME TAX |
---- |
--- |
(2.000) |
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Balance Carried to the
B/S |
3.040 |
2.812 |
2.048 |
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EARNINGS IN FOREIGN CURRENCY |
US $ 4500 |
EURO 128800 |
NA |
|
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Earnings / (Loss) Per
Share (Rs.) |
181.00 |
264.00 |
2343.00 |
|
Particulars |
|
|
31.03.2015 |
|
Sales Turnover (Approximately) |
|
|
73.300 |
The above information has been parted by Madam. Pragati Sawant
(Accountant).
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 / Revenue from operations ) |
(%) |
0.32 |
0.60 |
4.63 |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
5.86 |
7.16 |
11.87 |
|
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|
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Return on Total Assets (PBT/Total Assets} |
(%) |
0.77 |
0.89 |
7.51 |
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|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.02 |
0.02 |
0.18 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
1.13 |
0.77 |
0.82 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.77 |
1.84 |
1.67 |
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 |
0.100 |
0.100 |
0.100 |
|
Reserves & Surplus |
15.595 |
16.259 |
16.487 |
|
Net worth |
15.695 |
16.359 |
16.587 |
|
|
|
|
|
|
long-term borrowings |
12.847 |
12.594 |
18.709 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Total borrowings |
12.847 |
12.594 |
18.709 |
|
Debt/Equity ratio |
0.819 |
0.770 |
1.128 |
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) |
|
Revenue from
operations |
50.646 |
43.751 |
55.851 |
|
|
|
(13.614) |
27.657 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Revenue from
operations |
50.646 |
43.751 |
55.851 |
|
Profit |
2.343 |
0.264 |
0.181 |
|
|
4.63% |
0.60% |
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 |
Yes |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
No |
|
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 |
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 |
NOTE:
Registered office of the company shifted from 902 Nandadevi Neelkanth Valley, Ghatkopar (East), Mumbai – 400077, Maharashtra, India to the present address w.e.f. 24.05.2013.
CORPORATE INFORMATION:
Subject is a private limited company domiciled in India and incorporated under the provisions of the companies act, 1956. The company is engaged in activities of manufacture of chemicals.
OPERATIONS:
The company started manufacturer of a new product code named HP-100 as CRAMS project in the year 2012-13. After the successful completion of the CRAMS activity, the customer has entered into a long term agreement for sourcing this product from the company. The year 2013-14 was the 1st year of production of this item. Now with this experience, the work of debottlenecking, improving efficiency ad reaching to the level of production desired by the customer is being implemented. This will lead to a substantial increase in the sales turnover and profitability of the company. It will also diversify the sector of industry to whom the company suppliers its products.
The company’s other product para nitro phenol and formiphen whose sales have been affected due to the downturn in the automobile market and rubber cultivation sector are still a drag of the company’s financials. However, it is expected that situation will turnaround soon. In the meanwhile the company is trying to develop other products which can be manufactured in the same facilities, using in-house R and D. some of these products may be commercialized in the year 2014-15, and will contribute to the turnover from the year 2015-16.
UNSECURED LOAN
|
PARTICULARS |
31.03.2014 (Rs.
in Million) |
31.03.2013 (Rs.
in Million) |
|
LONG TERM
BORROWING |
|
|
|
Loans and advances from related parties |
|
|
|
Ajay Jagdish Saboo |
1.100 |
1.100 |
|
Ajay Jagdish Saboo HUF |
3.650 |
3.650 |
|
Kamal Jagdish Saboo |
0.000 |
1.500 |
|
Meghama Ajay Saboo |
0.800 |
0.800 |
|
Total |
5.550 |
7.050 |
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number
(SRN) |
|
1 |
10097799 |
13/12/2014 * |
7,500,000.00 |
ANDHRA BANK |
GHATKOPAR-EAST BRANCH, "KUMUDINI"
BUILDING, RAJAWADI ROAD NO. 7, GHATKOPAR-EAST, MUMBAI - 400077, MAHARASHTRA,
INDIA |
C39196860 |
|
2 |
90165445 |
13/12/2014 * |
12,500,000.00 |
ANDHRA BANK |
GHATKOPAR-EAST BRANCH, "KUMUDINI"
BUILDING, RAJAWADI ROAD NO. 7, GHATKOPAR-EAST, MUMBAI - 400077, MAHARASHTRA,
INDIA |
C39195722 |
* Date of charge modification
FIXED ASSETS
Tangible Assets
- Freehold
- Building
- New ETP
- Plant and Machinery
- Laboratory Equipments
- General Office Equipments
- Computer and Printer
- Furniture
- Vehicles
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. 65.55 |
|
|
1 |
Rs. 99.17 |
|
Euro |
1 |
Rs. 73.08 |
INFORMATION DETAILS
|
Information
Gathered by : |
PRT |
|
|
|
|
Analysis Done by
: |
AMR |
|
|
|
|
Report Prepared
by : |
SANS |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--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 |
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 |
|
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
unfavorable 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.