MIRA INFORM REPORT
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Report No. : |
344193 |
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Report Date : |
12.10.2015 |
IDENTIFICATION DETAILS
|
Name : |
AKSH DIAMONDS PRIVATE LIMITED |
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Registered
Office : |
H. No. 6/1419-1420, 507, 5th Floor, Millenium Trade Centre,
Thoba Sheri, Mahidharpura, Surat – 395003, Gujarat |
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Mobile No.: |
91-9321670026 [Mr. Bhagchand Jain] |
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Country : |
India |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
18.10.2006 |
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Com. Reg. No.: |
04-049256 |
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Capital
Investment / Paid-up Capital : |
Rs. 0.100 Million |
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CIN No.: [Company Identification
No.] |
U26960GJ2006PTC049256 |
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IEC No.: |
5206057991 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
SRTA02795C |
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PAN No.: [Permanent Account No.] |
AAGCA0063Q |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Trader and Importer of Diamonds. |
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No. of Employees
: |
6 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (26) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Small Company |
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Payment Behaviour : |
Slow and Delayed |
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Litigation : |
Clear |
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Comments : |
Subject is a small company in its field and its scale of activities
are limited. As management failed to file the financial documents for the year ended
31.03.2014 to statutory authorities. And the documents are not been available
from any sources. The rating takes into account the promoters experience and operating
track record of more than four decades in the gems and jewellery business. The rating however, is constrained by company’s weak financial profile
characterized by small scale of operations and weak return indicators. The rating is also constrained on account of elongated receivable
cycle along with huge external borrowing resulting in liquidity constraints.
Further rating also takes note of inherently low value additive nature of
business and the huge competition in trading and importing of diamonds
industry, with presence of a large number of organized and unorganized
players which is expected to keep the profitability under pressure. However, trade relations are reported as fair. Business is active.
Payment terms are reported to be slow and delayed. The company can be considered for the business dealings with safe and
secure trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
EXTERNAL AGENCY RATING
NOT AVAILABLE
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2015.
INFORMATION PARTED BY
|
Name : |
Mr. Bhagchand Kanhiyalal Jain |
|
Designation : |
Director |
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Contact No.: |
91-9321670026 |
|
Date : |
10.10.2015 |
LOCATIONS
|
Registered Office : |
H. No. 6/1419-1420, 507, 5th Floor, Millenium Trade Centre,
Thoba Sheri, Mahidharpura, Surat – 395003, Gujarat, India |
|
Tel. No.: |
Not Available |
|
Mobile No.: |
91-9321670026 [Mr. Bhagchand Jain] |
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Fax No.: |
Not Available |
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E-Mail : |
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Location : |
Owned |
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Locality : |
Commercial |
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Branch Office : |
Located at: · Mumbai |
DIRECTORS
AS ON 30.09.2013
|
Name : |
Mr. Bhagchand Kanhiyalal Jain |
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Designation : |
Director |
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Address : |
802-B, Z/5, Shreenathji Apartment, Hat Falia, Haripura, Surat – 395003,
Gujarat, India |
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Date of Birth/Age : |
01.10.1967 |
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Date of Appointment : |
18.10.2006 |
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PAN No.: |
ABBPJ5197P |
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DIN No.: |
00493717 |
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Name : |
Mr. Sunil Jain |
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Designation : |
Director |
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Address : |
Office No. 231, 2nd Floor, BLU Diamond Complex, Hat Falia,
Haripura, Surat – 395003, Gujarat, India |
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Date of Birth/Age : |
15.06.1974 |
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Date of Appointment : |
01.02.2011 |
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DIN No.: |
03368029 |
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Other Directorship :
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MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2013
|
Names of Shareholders |
No. of Shares |
Percentage of Holding |
|
Bhagchand Kanhiyalal Jain |
5000 |
50.00 |
|
Sunil Jain |
5000 |
50.00 |
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|
|
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Total |
10000 |
100.00 |
AS ON 30.09.2013
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Directors
or relatives of directors |
100.00 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Trader and Importer of Diamonds. |
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Brand Names : |
-- |
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Agencies Held : |
-- |
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Exports : |
-- |
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Imports : |
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Products : |
Polished Diamonds |
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Countries : |
· Dubai · Belgium · Israel |
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Terms : |
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Selling : |
Cash, L/C, Cheque and Credit |
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Purchasing : |
Cash, L/C, Cheque 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 : |
6 (Approximately) |
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Bankers : |
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Facilities : |
-- |
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Banking
Relations : |
-- |
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Auditors : [As on 31.03.2014] |
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Name : |
M.A. Gohil and Associates Chartered Accountants |
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Address : |
Surat, Gujarat, India |
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Memberships : |
-- |
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Collaborators : |
-- |
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Related Parties : |
Mona Gems |
CAPITAL STRUCTURE
AS ON 31.03.2014
Authorised Capital : Not Available
Issued, Subscribed & Paid-up Capital : Rs. 0.100
Million
AS ON 30.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10,000 |
Equity Shares |
Rs. 10/- each |
Rs. 0.100 Million |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10,000 |
Equity Shares |
Rs. 10/- each |
Rs. 0.100 Million |
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|
|
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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 |
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|
|
|
(1)Shareholders' Funds |
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|
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(a) Share Capital |
0.100 |
0.100 |
0.100 |
|
(b) Reserves & Surplus |
0.594 |
0.444 |
0.319 |
|
(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) |
0.694 |
0.544 |
0.419 |
|
|
|
|
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(3)
Non-Current Liabilities |
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|
|
|
(a) Long-term borrowings |
0.000 |
0.000 |
0.000 |
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(b) Deferred tax liabilities (Net) |
0.003 |
0.003 |
0.002 |
|
(c)
Other long term liabilities |
0.000 |
0.000 |
0.000 |
|
(d)
long-term provisions |
0.000 |
0.000 |
0.000 |
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Total
Non-current Liabilities (3) |
0.003 |
0.003 |
0.002 |
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|
|
|
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(4) Current Liabilities |
|
|
|
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(a)
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
(b)
Trade payables |
705.415 |
671.995 |
737.697 |
|
(c)
Other current liabilities |
0.165 |
0.120 |
0.000 |
|
(d)
Short-term provisions |
0.120 |
0.100 |
0.438 |
|
Total
Current Liabilities (4) |
705.700 |
672.215 |
738.135 |
|
|
|
|
|
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TOTAL |
706.397 |
672.762 |
738.556 |
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|
|
|
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II.
ASSETS |
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|
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|
(1) Non-current assets |
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|
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(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
0.014 |
0.018 |
0.030 |
|
(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 |
0.000 |
0.000 |
0.000 |
|
(e)
Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
0.014 |
0.018 |
0.030 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
64.898 |
60.360 |
41.453 |
|
(c)
Trade receivables |
597.554 |
588.649 |
674.227 |
|
(d)
Cash and cash equivalents |
7.204 |
8.033 |
11.231 |
|
(e)
Short-term loans and advances |
36.727 |
15.702 |
11.615 |
|
(f)
Other current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
706.383 |
672.744 |
738.526 |
|
|
|
|
|
|
TOTAL |
706.397 |
672.762 |
738.556 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from Operations |
1827.146 |
1488.161 |
1823.042 |
|
|
|
Other Income |
2.106 |
1.248 |
0.626 |
|
|
|
TOTAL (A) |
1829.252 |
1489.409 |
1823.668 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Purchases of Stock-in-Trade |
1816.970 |
1500.149 |
1859.052 |
|
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
(4.538) |
(18.907) |
(41.439) |
|
|
|
Employees benefits expense |
0.320 |
0.399 |
0.520 |
|
|
|
Other expenses |
16.273 |
7.574 |
5.375 |
|
|
|
TOTAL (B) |
1829.025 |
1489.215 |
1823.508 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
0.227 |
0.194 |
0.160 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
0.227 |
0.194 |
0.160 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
0.009 |
0.013 |
0.008 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
0.218 |
0.181 |
0.152 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
0.068 |
0.056 |
0.048 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
0.150 |
0.125 |
0.104 |
|
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|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
1.50 |
1.25 |
1.04 |
|
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current Maturities of Long term debt |
NA |
0.000 |
0.000 |
|
|
|
|
|
|
Cash generated from operations |
NA |
NA |
NA |
|
|
|
|
|
|
Net cash flows from (used in) operations |
NA |
(3.143) |
6.394 |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
0.01 |
0.01 |
0.01 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/Sales) |
(%) |
0.01 |
0.01 |
0.01 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.03 |
0.03 |
0.02 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.31 |
0.33 |
0.36 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.00 |
1.00 |
1.00 |
Total Liability = Short-term Debt + Long-term Debt + Current Maturities
of Long-term debts
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particulars |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Share Capital |
0.100 |
0.100 |
0.100 |
|
Reserves & Surplus |
0.319 |
0.444 |
0.594 |
|
Money received against share warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
0.419 |
0.544 |
0.694 |
|
|
|
|
|
|
Long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Total
borrowings |
0.000 |
0.000 |
0.000 |
|
Debt/Equity ratio |
0.000 |
0.000 |
0.000 |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Sales |
1823.042 |
1488.161 |
1827.146 |
|
|
|
-18.369 |
22.779 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Sales |
1823.042 |
1488.161 |
1827.146 |
|
Profit |
0.104 |
0.125 |
0.150 |
|
|
0.01% |
0.01% |
0.01% |
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) |
Yes |
|
16 |
No. of employees |
Yes |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
Yes |
|
19 |
Major customers |
Yes |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
No |
|
22 |
Conduct of the banking account |
-- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
Yes |
|
26 |
Turnover of firm for last three years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
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 |
DIAMOND INDUSTRY – INDIA
-
From time immemorial, India is well known in the world
as the birthplace for diamonds. It is difficult to trace the origin of
diamonds but history says that in the remote past, diamonds were mined only in
India. Diamond production in India can be traced back to almost 8th
Century B.C. India, in fact, remained undisputed leader till 18th
Century when Brazilian fields were discovered in 1725 followed by emergence of
S. Africa, Russia and Australia.
-
The achievement of the Indian diamond industry was
possible only due to combination of the manufacturing skills of the Indian
workforce and the untiring and unflagging efforts of the Indian diamantaires,
supported by progressive Government policies.
-
The area of study of family owned diamond businesses
derives its importance from the huge conglomerate of family run organizations
which operate in the diamond industry since many generations.
-
Some of the basic traits of family run business
enterprises include spirit of entrepreneurship, mutual trust lowers transaction
costs, small, nimble and quick to react, information as a source of advantage
and philanthropy.
-
Family owned diamond businesses need to improve on
many fronts including higher standard of corporate governance, long-term
performance – focused strategies, modern management and technology.
-
Utmost caution is to be exercised while dealing with
some medium and large diamond traders which are usually engaged in fictitious
import – export, inter-company transactions, financially assisted by banks. In
the process, several public sector banks lost several hundred million rupees.
They mostly diverted borrowed money for diamond business into real estate and
capital markets.
-
Excerpts from Times of India dated 30th
October 2010 is as under –
-
Gem & Jewellery Export Promotion Council in its
statistical data has shown the export of polished diamonds to have increase by
28 % in February 2013. Compared to $ 1.4 bn worth of polished diamond export in
February, 2012, India exported $ 1.84 billion worth of polished diamonds in
February 2013. A senior executive of GJEPC said, “Export of cut and polished
diamonds started falling month-wise after the imposition of 2 % of import duty
on the polished diamonds. But February, 2013 has given a new ray of hope to the
industry as the export of polished diamonds has actually increased by 28 %. It
means the industry is on the track of recovery and round tripping of
diamonds has stopped completely.” Demand has started coming from the US, the
UK, Japan and China. India’s polished diamond export is expected to cross $ 21
bn in 2013-14.
-
The banking sector has started exercising restraint
while following prudent risk management norms when lending money to gems and
jewellery sector. This follows the implementation of Basel III accord – a
global voluntary regulatory standard on bank capital adequacy, stress testing
and market liquidity.
INDEX OF CHARGES: NO
CHARGES EXIST FOR COMPANY
CHANGE OF ADDRESS:
The Registered Office of the company has been shifted from 231, Blue Diamond
Complex, Hathfalia, Haripura, Surat - 395003, Gujarat, India to the present
address w.e.f.01.10.2013.
FIXED ASSETS:
·
Office equipment
·
Computer equipments
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. 64.78 |
|
|
1 |
Rs. 99.54 |
|
Euro |
1 |
Rs. 73.08 |
INFORMATION DETAILS
|
Information
Gathered by : |
KMN |
|
|
|
|
Analysis Done by
: |
KAS |
|
|
|
|
Report Prepared
by : |
BVA |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
2 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
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 |
|
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.