MIRA INFORM REPORT
|
Report No. : |
344930 |
|
Report Date : |
13.10.2015 |
IDENTIFICATION DETAILS
|
Name : |
SUNPACK BARRIER FILMS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
First Floor, 130, Shukan Mall, Near Panchamrut, Bunglows-1, Science City
Road, Sola, Ahmedabad – 380060, Gujarat |
|
Tel. No.: |
91-79-26440331 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
13.12.2004 |
|
|
|
|
Com. Reg. No.: |
04-045123 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs. 52.600 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U25202GJ2004PTC045123 |
|
|
|
|
IEC No.: |
0804015686 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
AHMS12014C |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAICS7070D |
|
|
|
|
Legal Form : |
Private Limited Liability Company. |
|
|
|
|
Line of Business
: |
Manufacturing, Exporting and Importing of Plastic Films. |
|
|
|
|
No. of Employees
: |
30 (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 |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company incorporated in the year 2004. It is
having moderate track. The company has earned some profit from its operations over previous year
losses. However, it has recorded some accumulated losses. Further, decreased
in external ratings leading to improvement in financial risk profile. Trade relations are fair. Business is active. Payment terms are
reported to be slow but correct. In view of aforesaid, the company can be considered for business
dealings with some caution. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long Term Rating = B+ |
|
Rating Explanation |
Risk prone credit quality and carries very high credit risk |
|
Date |
December 04, 2014 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short Term Rating = A4 |
|
Rating Explanation |
Minimal degree of safety and very high credit risk |
|
Date |
December 04, 2014 |
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. Heril |
|
Designation : |
Accounts Head |
|
Contact No.: |
91-9099975016 |
|
Date : |
09.10.2015 |
LOCATIONS
|
Registered Office : |
First Floor, 130, Shukan Mall, Near Panchamrut, Bunglows-1, Science City
Road, Sola, Ahmedabad – 380060, Gujarat, India |
|
Tel. No.: |
91-79-26440331 |
|
Mobile No.: |
91-9099975016 (Mr. Heril) |
|
Fax No.: |
91-79-26421324 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Factory : |
Survey No. 1039, Near GEB Substation, |
|
Tel. No.: |
91-2764-234451 |
|
Fax No.: |
91-2764-234452 |
|
|
|
|
Sales Office: |
201," Harmony", 28, Nutan Bharat Society, Alkapuri,
Vadodara- 390 007, Gujarat, India. |
|
Tel. No.: |
91-265-2353608 / 2353609 |
|
Fax No.: |
91- 265-2353610 |
|
E-Mail : |
DIRECTORS
AS ON 30.09.2014
|
Name : |
Pradipkumar Khodabhai Patel |
|
Designation : |
Director |
|
Address : |
B-201, Shilpgram, Near Gyanda Girls School, Ghatalodia, Ahmedabad – 380061, Gujarat, India |
|
Date of Birth/Age : |
22.01.1968 |
|
Date of Appointment : |
13.12.2004 |
|
DIN No.: |
00106713 |
|
|
|
|
Name : |
Manojkumar Rajendrakumar Patel |
|
Designation : |
Director |
|
Address : |
415, Clover Place, Roselle Park Nj 07204, New Jersey, 07204, United States of America |
|
Date of Birth/Age : |
04.08.1962 |
|
Date of Appointment : |
06.09.2006 |
|
DIN No.: |
00732461 |
|
|
|
|
Name : |
Jagdishkumar Chimanlal Patel |
|
Designation : |
Director |
|
Address : |
B/22, Ganeshdham Bunglows, Opp. New High Court, R C Tech Road, Ghatlodia, Ahmedabad – 380061, Gujarat, India |
|
Date of Birth/Age : |
10.10.1971 |
|
Date of Appointment : |
25.08.2014 |
|
DIN No.: |
02211323 |
KEY EXECUTIVES
|
Name : |
Harsh Hemantkumar Shah |
|
Designation : |
Secretary |
|
Address : |
74/877, Mangalmurti Appartment, Naranpura, Ahmedabad – 380013, Gujarat, India |
|
Date of Appointment : |
01.08.2015 |
|
PAN No.: |
BYBPS2663B |
|
|
|
|
Name : |
Mr. Heril |
|
Designation : |
Accounts Head |
MAJOR SHAREHOLDERS
AS ON 30.09.2014
|
Names of Shareholders |
|
No. of Shares |
|
Pankilbhai B. Patel |
|
380000 |
|
Pradipkumar K. Patel |
|
902000 |
|
Gitaben P. Patel |
|
650000 |
|
Yogesh C. Patel |
|
135000 |
|
Manoj R. Patel |
|
526000 |
|
Gautamkumar C. Patel |
|
90000 |
|
Arun C. Patel |
|
65000 |
|
Chinubhai S. Patel |
|
130000 |
|
Kamlesh M Patel |
|
55000 |
|
Meeta G. Patel |
|
75000 |
|
Mukesh M. Patel |
|
55000 |
|
Neetaben P Patel |
|
55000 |
|
Dharaben P Patel |
|
129000 |
|
Pravinaben H Patel |
|
240000 |
|
Hirenbhai A Patel |
|
660000 |
|
Bhailalbhai A Patel |
|
230000 |
|
Kailashben B Patel |
|
18000 |
|
Bhadresh J Patel |
|
235000 |
|
Gomtiben J Patel |
|
200000 |
|
Niraj R Patel |
|
150000 |
|
Rasikbhai R Patel |
|
150000 |
|
Meetaben V Patel |
|
130000 |
|
|
|
|
|
Total |
|
5260000 |
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, Exporting and Importing of Plastic Films. |
|
|
|
|
Products : |
Plastic Films |
|
|
|
|
Brand Names : |
Not Available |
|
|
|
|
Agencies Held : |
Not Available |
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|
|
|
Exports : |
|
|
Products : |
Plastic Films |
|
Countries : |
UK |
|
|
|
|
Imports : |
|
|
Products : |
Resins |
|
Countries : |
Singapore |
|
|
|
|
Terms : |
|
|
Selling : |
L/C and Credit |
|
|
|
|
Purchasing : |
L/C and Credit |
GENERAL INFORMATION
|
Suppliers : |
Not Divulged
|
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Customers : |
Wholesalers, Retailers
|
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No. of Employees : |
30 (Approximately) |
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Bankers : |
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Facilities : |
(Rs.
In Million)
|
|
Auditors : |
|
|
Name : |
Dinesh R Shah and Company Chartered Accountant |
|
Address : |
51, Madhuban, Near Madalpur Under Bridge Ellisbridge, Navrangpura,
Ahmedabad – 380006, Gujarat, India |
|
PAN No.: |
AAFFD0959G |
|
|
|
|
Memberships : |
-- |
|
|
|
|
Collaborators : |
-- |
|
|
|
|
Associates : |
|
CAPITAL STRUCTURE
AS ON 30.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5500000 |
Equity Shares |
Rs.10/- each |
Rs. 55.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5260000 |
Equity Shares |
Rs.10/- each |
Rs. 52.600
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 |
52.600 |
52.600 |
52.600 |
|
(b) Reserves & Surplus |
(14.432) |
(16.744) |
(14.223) |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
0.000 |
10.000 |
10.000 |
|
Total
Shareholders’ Funds (1) + (2) |
38.168 |
45.856 |
48.377 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
14.846 |
70.767 |
99.523 |
|
(b) Deferred tax liabilities (Net) |
0.500 |
0.500 |
0.500 |
|
(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) |
15.346 |
71.267 |
100.023 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
34.640 |
33.666 |
23.663 |
|
(b) Trade
payables |
12.916 |
3.277 |
9.134 |
|
(c) Other
current liabilities |
58.088 |
32.482 |
28.604 |
|
(d) Short-term
provisions |
0.883 |
1.295 |
1.454 |
|
Total Current
Liabilities (4) |
106.527 |
70.720 |
62.855 |
|
|
|
|
|
|
TOTAL |
160.041 |
187.843 |
211.255 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
136.483 |
145.085 |
153.446 |
|
(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) |
(19.959) |
(19.475) |
(18.356) |
|
(d) Long-term Loan and Advances |
3.974 |
3.382 |
3.055 |
|
(e) Other
Non-current assets |
1.662 |
1.662 |
1.517 |
|
Total Non-Current
Assets |
122.160 |
130.654 |
139.662 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
13.779 |
16.279 |
19.591 |
|
(c) Trade
receivables |
14.848 |
31.950 |
36.712 |
|
(d) Cash
and cash equivalents |
0.896 |
1.381 |
8.047 |
|
(e)
Short-term loans and advances |
8.358 |
7.579 |
7.243 |
|
(f) Other
current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
37.881 |
57.189 |
71.593 |
|
|
|
|
|
|
TOTAL |
160.041 |
187.843 |
211.255 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Income |
134.914 |
108.924 |
|
|
|
Other Income |
0.810 |
0.712 |
|
|
|
TOTAL |
135.724 |
109.636 |
151.050 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
TOTAL |
124.067 |
102.174 |
121.263 |
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
11.657 |
7.462 |
29.787 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
8.861 |
8.863 |
8.817 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
2.796 |
(1.401) |
20.970 |
|
|
|
|
|
|
|
Less |
TAX |
0.484 |
1.119 |
1.561 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
2.312 |
(2.520) |
19.409 |
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
0.44 |
(0.48) |
3.68 |
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) operation |
NA |
28.853 |
43.681 |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
1.71 |
(2.31) |
12.85 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.55 |
(0.68) |
9.13 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.07 |
(0.03) |
0.43 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
1.30 |
2.28 |
2.55 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.36 |
0.81 |
1.14 |
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 |
52.600 |
52.600 |
52.600 |
|
Reserves & Surplus |
(14.223) |
(16.744) |
(14.432) |
|
Share Application money
pending allotment |
10.000 |
10.000 |
0.000 |
|
Net
worth |
48.377 |
45.856 |
38.168 |
|
|
|
|
|
|
long-term borrowings |
99.523 |
70.767 |
14.846 |
|
Short term borrowings |
23.663 |
33.666 |
34.640 |
|
Current Maturities of Long
Term Debt |
0.000 |
0.000 |
0.000 |
|
Total
borrowings |
123.186 |
104.433 |
49.486 |
|
Debt/Equity
ratio |
2.546 |
2.277 |
1.297 |
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 |
151.050 |
109.636 |
135.724 |
|
|
|
(27.417) |
23.795 |
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 |
151.050 |
109.636 |
135.724 |
|
Profit |
19.409 |
(2.520) |
2.312 |
|
|
12.85% |
(2.30%) |
1.70% |
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 |
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 |
Yes |
|
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 |
UNSECURED LOAN
|
Particulars |
As
on 31.03.2014 |
As
on 31.03.2013 |
|
LONG TERM
BORROWING |
|
|
|
Deposits from shareholders |
14.846 |
39.241 |
|
|
|
|
|
Total |
14.846 |
39.241 |
|
|
|
|
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10297987 |
30/06/2011 |
5,000,000.00 |
Bank of Baroda |
9-11, Sagar Complex, Opp. Satellite Plaza, Premch and Nagar Road, Vastrapur, Ahmedabad, Gujarat - 380015, INDIA |
B17140351 |
|
2 |
80040725 |
03/12/2012 * |
124,827,000.00 |
Bank of Baroda |
9-11, SAGAR
COMPLEX, OPP. SATELLITE PLAZA, PREMCH Gujarat - 380015, INDIA |
B66797762 |
|
3 |
80040724 |
02/05/2015 * |
125,084,000.00 |
BANK OF BARODA |
9-11, SAGAR
COMPLEX, OPP. SATELLITE PLAZA, PREMC INDIA |
C52437472 |
* Date of charge modification
FIXED ASSETS
- Land
- Building
- Plant and
Equipments
- Furniture and
Fixture
- Vehicles
- Office
Equipments
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 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. 64.73 |
|
UK Pound |
1 |
Rs. 99.30 |
|
Euro |
1 |
Rs. 73.60 |
INFORMATION DETAILS
|
Information
Gathered by : |
KMN |
|
|
|
|
Analysis Done by
: |
KIN |
|
|
|
|
Report Prepared
by : |
JYO |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILITY |
1~10 |
4 |
|
--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 |
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.