MIRA INFORM REPORT
|
Report No. : |
346722 |
|
Report Date : |
28.10.2015 |
IDENTIFICATION DETAILS
|
Name : |
C J S SPECIALTY CHEMICALS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
105, Bajaj Bhavan, Nariman Point, Mumbai-400021, Maharashtra |
|
Tel. No. : |
91-22-67826969 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
12.09.2008 |
|
|
|
|
Com. Reg. No.: |
11-186710 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 0.100 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24110MH2008PTC186710 |
|
|
|
|
IEC No.: |
0309000122 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMC16346B |
|
|
|
|
PAN No.: [Permanent Account No.] |
AADCC4791N |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Distributer and Importer of Spciality Chemicals, Solvents. |
|
|
|
|
No. of Employees
: |
20 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 360000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
CJSCPL was set up in 2008. It is promoted by C J Shah’s partners, it
is engaged in trading of specialty chemicals. Subject is an established
company having satisfactory track. Rating on C J S Specialty Chemicals Private Limited (CJSCPL) continues
to reflect the strong financial and managerial support that company receives
from its associates concern, “C J Shah and Company”. The rating also factors in the extensive experience of its promoters
in trading of specialty chemicals, and the company’s established
relationships with large suppliers and customers. These rating strengths are partially offset by company modest scale of
operations, and exposure to inventory and foreign exchange risks. Trade relations are fair. Business is active. Payment terms are
reported as slow but correct. In view of extensive experience of the promoters, the company can be
considered for business dealings at usual trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Short Term Rating “A3+” |
|
Rating Explanation |
Moderate degree of safety and higher credit risk. |
|
Date |
April 21, 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
|
Name : |
Mr. Sameer |
|
Designation : |
Accounts Department |
|
Contact No.: |
91-22-67826969 |
|
Date : |
13.07.2015 |
LOCATIONS
|
Registered Office : |
105, Bajaj Bhavan, Nariman Point, Mumbai – 400021, Maharashtra, India |
|
Tel. No.: |
91-22-67826969 |
|
Mobile No.: |
91-9820443008 (Mr. Ashish Shah) |
|
Fax No.: |
91-22-67826999/ 22852529/ 22028716 |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
|
|
|
|
Warehouse 1 : |
L-16, Ambattur Industrial Estate, Chennai – 600058, Tamil Nadu India |
|
|
|
|
Warehouse 2 : |
Jay Shree Ram Complex, C Building, Gala No.6, Survey No. 169, Purna
Cillage, Bhiwandi, Thane – 421302, Maharashtra, India |
DIRECTORS
AS ON 31.03.2015
|
Name : |
Mr. Ashish Prakash Shah |
|
Designation : |
Director |
|
Address : |
Flat No. D-24, |
|
Date of Birth/Age : |
02.08.1978 |
|
Date of Appointment : |
12.09.2008 |
|
DIN No.: |
00675159 |
|
|
|
|
Name : |
Mr. Dharmesh Kishan Mange |
|
Designation : |
Director |
|
Address : |
11/160, Sindhi Society, Chembur, Mumbai-400071, |
|
Date of Birth/Age : |
02.06.1980 |
|
Date of Appointment : |
12.09.2008 |
|
DIN No.: |
00675179 |
|
|
|
|
Name : |
Mr. Ashit Mahesh Shah |
|
Designation : |
Director |
|
Address : |
1001/02, Peasant Palace, Narayan Dhabolkar Road, Mumbai – 400006,
Maharashtra, India |
|
Date of Birth/Age : |
07.12.1973 |
|
Date of Appointment : |
12.09.2008 |
|
DIN No.: |
02007618 |
|
|
|
|
Name : |
Mr. Apurva Mahesh Shah |
|
Designation : |
Director |
|
Address : |
1403, |
|
Date of Birth/Age : |
17.07.1971 |
|
Date of Appointment : |
12.09.2008 |
|
DIN No.: |
02007622 |
KEY EXECUTIVE
|
Name : |
Mr. Sameer |
|
Designation : |
Accounts Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2014
|
Names of Shareholders |
No. of Shares |
Percentage of
Holding |
|
Apurva Mahesh Shah |
3600 |
36.00 |
|
Ashit Mahesh Shah |
2400 |
24.00 |
|
Ashish Prakash Shah |
2000 |
20.00 |
|
Dharmesh Kishan Mange |
2000 |
20.00 |
|
Total |
10000 |
100.00 |
AS ON 30.09.2014
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Distributer and Importer of Specialty Chemicals, Solvents. |
|
|
|
|
Products : |
|
|
|
|
|
Brand Names : |
Not Available |
|
|
|
|
Agencies Held : |
Not Available |
|
|
|
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Exports : |
Not Divulged |
|
|
|
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Imports : |
|
|
Products : |
Chemicals |
|
Countries : |
|
|
|
|
|
Terms : |
|
|
Selling : |
Cash and Credit (30, 60 and 90 Days) |
|
|
|
|
Purchasing : |
Cash and Credit (30, 60 and 90 Days) |
PRODUCTION STATUS: NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
Wholesalers and Retailers
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No. of Employees : |
20 (Approximately) |
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Bankers : |
|
|
Auditors : |
|
|
Name : |
Rajendra and Company Chartered Accountant |
|
Address : |
1311 |
|
Tel. No.: |
91-22-22855770 |
|
Fax No.: |
91-22-22834243 |
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E-Mail : |
|
|
PAN No: |
AAAFR1878D |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Enterprises which
are owned, or have significant influence of or are partners with Key
management personnel and their relatives |
C J Shah and Company |
CAPITAL STRUCTURE
AS ON 30.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
500,000 |
Equity Shares |
Rs.10/- each |
Rs.0.500 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10,000 |
Equity Shares |
Rs.10/- 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 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
0.100 |
0.100 |
0.100 |
|
(b) Reserves &
Surplus |
127.308 |
87.296 |
60.006 |
|
(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) |
127.408 |
87.396 |
60.106 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax
liabilities (Net) |
0.306 |
0.120 |
0.107 |
|
(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) |
0.306 |
0.120 |
0.107 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
212.228 |
211.603 |
168.493 |
|
(b) Trade payables |
730.181 |
278.689 |
129.131 |
|
(c) Other current
liabilities |
31.873 |
15.530 |
4.940 |
|
(d) Short-term provisions |
64.211 |
44.512 |
31.081 |
|
Total Current Liabilities
(4) |
1038.493 |
550.334 |
333.645 |
|
|
|
|
|
|
TOTAL |
1166.207 |
637.850 |
393.858 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
3.653 |
3.988 |
4.039 |
|
(ii) Intangible Assets |
0.056 |
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 |
3.709 |
3.988 |
4.039 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
242.763 |
275.249 |
171.246 |
|
(c) Trade receivables |
794.690 |
260.938 |
155.110 |
|
(d) Cash and cash
equivalents |
54.146 |
49.998 |
27.404 |
|
(e) Short-term loans and
advances |
70.899 |
47.677 |
36.059 |
|
(f) Other current assets |
0.000 |
0.000 |
0.000 |
|
Total Current Assets |
1162.498 |
633.862 |
389.819 |
|
|
|
|
|
|
TOTAL |
1166.207 |
637.850 |
393.858 |
PROFIT & LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Income |
2245.849 |
866.855 |
717.595 |
|
|
Other Income |
NA |
5.279 |
0.638 |
|
|
TOTAL |
NA |
872.134 |
718.233 |
|
|
|
|
|
|
|
Less |
TOTAL EXPENSES |
|
800.611 |
664.575 |
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION |
71.523 |
53.658 |
||
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
30.312 |
20.547 |
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION |
41.211 |
33.111 |
|
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
NA |
0.477 |
0.402 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
59.898 |
40.734 |
32.709 |
|
|
|
|
|
|
|
Less |
TAX |
19.886 |
13.443 |
10.956 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
40.012 |
27.291 |
21.753 |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
22.150 |
22.760 |
1.000 |
|
|
TOTAL EARNINGS |
22.150 |
22.760 |
1.000 |
|
|
|
|
|
|
|
|
IMPORT VALUE ON CIF BASIS |
726.115 |
NA |
NA |
|
|
Import of traded goods |
0.000 |
NA |
NA |
|
|
Components and spare parts |
0.000 |
NA |
NA |
|
|
Capital goods |
0.000 |
NA |
NA |
|
|
TOTAL IMPORT |
726.115 |
NA |
NA |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (Rs.) |
4001.20 |
2729.07 |
2175.36 |
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 |
55.798 |
19.614 |
NA |
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
1.78 |
3.15 |
3.03 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/Sales) |
(%) |
NA |
8.25 |
7.48 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
5.14 |
6.39 |
8.30 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.47 |
0.47 |
0.54 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
1.67 |
2.42 |
2.80 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.12 |
1.15 |
1.17 |
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 |
60.006 |
87.296 |
127.308 |
|
Net worth |
60.106 |
87.396 |
127.408 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
168.493 |
211.603 |
212.228 |
|
Total borrowings |
168.493 |
211.603 |
212.228 |
|
Debt/Equity ratio |
2.803 |
2.421 |
1.666 |
|
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 |
717.595 |
866.854 |
2245.849 |
|
|
|
20.800 |
159.080 |
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 |
717.595 |
866.854 |
2245.849 |
|
Profit |
21.753 |
27.290 |
40.012 |
|
|
3.03% |
3.15% |
1.78% |
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 |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
10580866 |
26/06/2015 |
132,500,000.00 |
Standard
Chartered Bank |
Crescenzo,
3A/F Plot No. C-38 & 39, G-Block,, Ban |
C59340083 |
|
2 |
10319295 |
26/06/2015
* |
200,000,000.00 |
Standard
Chartered Bank |
Crescenzo,
3A/F Plot No. C-38 & 39, G-Block,, Ban |
C59338715 |
* Date of charge modification
UNSECURED LOANS
|
PARTICULAR |
31.03.2014 (Rs.
in Million) |
31.03.2013 (Rs.
in Million3) |
|
SHORT TERM
BORROWINGS |
|
|
|
Loans repayable on demand from others |
212.228 |
207.478 |
|
Loans and advances from directors |
0.000 |
4.125 |
|
Total |
212.228 |
211.603 |
FIXED ASSETS
- Plant and equipment
- Other plant and equipment
- Furniture and fixtures
- Vehicles
- Motor vehicles
- Office equipment
- Computer equipments
- Other 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 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. 64.96 |
|
|
1 |
Rs. 99.73 |
|
Euro |
1 |
Rs. 71.84 |
INFORMATION DETAILS
|
Information Gathered
by : |
GYT |
|
|
|
|
Analysis Done by
: |
KSP |
|
|
|
|
Report Prepared
by : |
SYL |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILITY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
4 |
|
--MARGINS |
-5~5 |
------ |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
45 |
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.