MIRA INFORM REPORT
|
Report No. : |
346777.2 |
|
Report Date : |
29.10.2015 |
IDENTIFICATION DETAILS
|
Name : |
PRISTINE SWITCHGEARS INDIA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
6, Continental Chambers, Office No.6, 1st Floor, Karve
Road, Pune – 411004, Maharashtra |
|
Tell No.: |
91-20-30222000/30222001 |
|
|
|
|
Country : |
India |
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|
|
|
Financials (as
on) : |
31.03.2013 |
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|
|
|
Date of
Incorporation : |
18.02.2008 |
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|
|
|
Com. Reg. No.: |
11-131437 |
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|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 37.120 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U31504PN2008PTC131437 |
|
|
|
|
IEC No.: |
3108014757 |
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|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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|
|
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PAN No.: [Permanent Account No.] |
AAECP5543J |
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|
Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer of Switchgears Panels. |
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|
|
|
No. of Employees
: |
80 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (29) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
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|
|
Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate track. The management has failed to file its financial with government
department for the year 2014. As per available financial records of 2013, the ratings takes into
consideration slightly high debt level of the company and unfavourable gap
exist between trade payables and trade receivables may hamper the liquidity
profile of the company. However, the company has reported marginal growth in its revenue base
and has reported fair profit margin. Trade relations are fair. Business is active. Payments are reported to
be slow but correct. In view of risk associated with the unavailability of latest
financials, the company can be considered for business dealings with some
caution. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long term rating = B (Suspended) |
|
Rating Explanation |
Risk-prone-credit-quality and carries very high credit risk. |
|
Date |
20.08.2015 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short term rating = A4 (Suspended) |
|
Rating Explanation |
Minimal degree of safety and very high credit risk. |
|
Date |
20.08.2015 |
Note
Reason for Suspension: Absence of adequate
information from the company.
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. Ashish Korde |
|
Designation : |
Director |
|
Contact No.: |
91-9561226593 |
|
Date : |
21.10.2015 |
LOCATIONS
|
Registered Office : |
6, Continental Chambers, Office No.6, 1st Floor, Karve
Road, Pune – 411004, Maharashtra, India |
|
Tel. No.: |
91-20-30222000/30222001 |
|
Mobile No.: |
91-9561226593 (Mr. Ashish Korde) |
|
Fax No.: |
91-20-30222001 |
|
E-Mail : |
umesh.kurambhatti@pristineswitchgear.com rahul.korde@pristineswitchgear.com |
|
Website : |
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|
|
|
|
Factory /Correspondence Address: |
Gat No.-1295-1-10,1140,1122,1129, Village - Shirval,
Taluka - Khandala, |
|
Tel. No.: |
91- 2169-244156 |
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|
|
|
Branch Office : |
Located At :
|
DIRECTORS
As on 30.09.2013
|
Name : |
Mrs. Mousami Ashish Korde |
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|
Designation : |
Director |
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|
Address : |
H-38, Swapnashilp, Ganesh Nagar, Karve Nagar, Pune – 411052,
Maharashtra, India |
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|
Date of Birth/Age : |
07.11.1976 |
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Date of Appointment : |
18.02.2008 |
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DIN No.: |
00437294 |
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Name : |
Mr. Ashish Madhukar Korde |
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|
Designation : |
Director |
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|
Address : |
H-38, Swapnashilp, Ganesh Nagar, Karve Nagar, Pune – 411052,
Maharashtra, India |
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|
Date of Birth/Age : |
03.06.1972 |
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Date of Appointment : |
18.02.2008 |
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DIN No.: |
00452853 |
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Name : |
Mr. Manish Ashok Pimple |
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|
Designation : |
Additional director |
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|
Address : |
174, Shivaji Nagar, Nagpur - 440002, Maharashtra, India |
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|
Date of Appointment : |
10.05.2014 |
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DIN No.: |
03377766 |
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MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2013
|
Names of Shareholders |
|
No. of Shares |
|
Ashish Madhukar Korde |
|
559898 |
|
Mousami Ashish Korde |
|
50000 |
|
Pristine Engineers Private Limited, India |
|
3002000 |
|
Vaibhav Gandhi |
|
100000 |
|
Kantilal Gandhi HUF |
|
100 |
|
Pimple Manish |
|
1 |
|
Dalvi Girija |
|
1 |
|
|
|
|
|
Total |
|
3712000 |
Equity Share Break up (Percentage of Total Equity)
As on 30.09.2013
|
Category |
Percentage |
|
Bodies corporate |
80.87 |
|
Directors or relatives of Directors |
16.42 |
|
Other top fifty shareholders |
2.71 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Switchgears Panels. |
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|
|
|
Brand Names : |
Switchgears Panels |
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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 : |
L/C, Cash and Credit |
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Purchasing : |
L/C, Cash and Credit |
PRODUCTION STATUS: NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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No. of Employees : |
80 (Approximately) |
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Bankers : |
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Facilities : |
Note : Long-term
Borrowings Term loans from bank is secured against assets of the company and
corporate guarantee issued by parent company Pristine Engineers Private
Limited. Term loans from Bank is also additionally secured by collateral
security of personal property of the directors as well as personal guarantee
of directors. Short-term
borrowings Cash Credit is secured by hypothecation of stock and charge on debtors
of the company as well as other assets of the company and personal guarantee
and collateral security given by the directors. |
|
|
|
|
Auditors : |
|
|
Name : |
S. D. Chaware and Company Chartered Accountants |
|
Address : |
Office No. 5, Continental Chambers, Above Chinese Room, Karve Road, Pune – 411004, Maharashtra, India |
|
PAN N Income-tax PAN of auditor or auditor's firm : |
AAUPC6514D |
|
Email : |
sanjay.chaware@gmail.com |
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|
|
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Memberships : |
-- |
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|
|
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Collaborators : |
-- |
|
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Subsidiary Company
: (As on 31.03.2013) |
CIN
No.:U29200PN2012PTC144815 |
|
|
|
|
Holding Company :
(As on 31.03.2013) |
CIN
No.:U51505PN2004PTC019106 |
CAPITAL STRUCTURE
AS ON 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4,000,000 |
Equity Shares |
Rs.10/- each |
Rs.40.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3,712,000 |
Equity Shares |
Rs.10/- each |
Rs.37.120
Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
37.120 |
37.120 |
37.120 |
|
(b) Reserves &
Surplus |
34.202 |
19.377 |
13.347 |
|
(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) |
71.322 |
56.497 |
50.467 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
60.097 |
53.577 |
40.347 |
|
(b) Deferred tax
liabilities (Net) |
0.844 |
0.646 |
0.282 |
|
(c) Other long term
liabilities |
1.496 |
1.185 |
0.000 |
|
(d) long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
62.437 |
55.408 |
40.629 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
120.207 |
64.596 |
38.675 |
|
(b) Trade payables |
217.004 |
189.688 |
116.633 |
|
(c) Other current
liabilities |
55.339 |
50.645 |
23.938 |
|
(d) Short-term provisions |
7.234 |
2.535 |
4.656 |
|
Total Current Liabilities
(4) |
399.784 |
307.464 |
183.902 |
|
|
|
|
|
|
TOTAL |
533.543 |
419.369 |
274.998 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
117.727 |
126.479 |
35.431 |
|
(ii) Intangible Assets |
6.082 |
2.819 |
0.000 |
|
(iii) Capital
work-in-progress |
0.000 |
8.236 |
30.842 |
|
(iv) Intangible assets
under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
0.051 |
0.000 |
0.000 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
1.796 |
0.858 |
3.151 |
|
(e) Other Non-current
assets |
25.234 |
31.457 |
14.041 |
|
Total Non-Current Assets |
150.890 |
169.849 |
83.465 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
179.308 |
132.131 |
94.785 |
|
(c) Trade receivables |
178.703 |
99.768 |
86.137 |
|
(d) Cash and cash
equivalents |
2.927 |
4.624 |
6.995 |
|
(e) Short-term loans and
advances |
21.715 |
10.180 |
3.099 |
|
(f) Other current assets |
0.000 |
2.817 |
0.517 |
|
Total Current Assets |
382.653 |
249.520 |
191.533 |
|
|
|
|
|
|
TOTAL |
533.543 |
419.369 |
274.998 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
SALES |
|
|
|
|
|
Income |
|
|
|
|
|
Other Income |
|
|
|
|
|
TOTAL |
555.783 |
527.118 |
415.521 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
TOTAL |
546.349 |
518.392 |
402.487 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, EXCEPTIONAL ITEMS AND EXTRAORDINARY ITEMS AND TAX |
9.434 |
8.726 |
13.034 |
|
|
|
|
|
|
|
Less/ Add |
EXCEPTIONAL ITEMS |
(9.524) |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
18.958 |
8.726 |
13.034 |
|
|
|
|
|
|
|
Less |
TAX |
4.133 |
2.696 |
4.541 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
14.825 |
6.030 |
8.493 |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
Nil |
0.136 |
8.319 |
|
|
TOTAL EARNINGS |
Nil |
0.136 |
8.319 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (Rs.) |
3.99 |
1.62 |
NA |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
Net Profit Margin (PAT / Total Income) |
(%) |
2.67 |
1.14 |
2.04 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
3.55 |
2.12 |
5.34 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.27 |
0.15 |
0.26 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
2.84 |
2.32 |
1.72 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.96 |
0.81 |
1.04 |
CURRENT MATURITIES OF LONG-TERM DEBT DETAILS
|
Particulars |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
|
|
|
Current maturities of long-term debt |
22.445 |
12.657 |
7.556
|
|
Cash generated from operations |
N.A |
N.A |
N.A |
|
Net cash flow from operating activity |
N.A |
N.A |
N.A |
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 |
37.120 |
37.120 |
37.120 |
|
Reserves & Surplus |
13.347 |
19.377 |
34.202 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
50.467 |
56.497 |
71.322 |
|
|
|
|
|
|
long-term borrowings |
40.347 |
53.577 |
60.097 |
|
Short term borrowings |
38.675 |
64.596 |
120.207 |
|
Current maturities of
long-term debts |
7.556 |
12.657 |
22.445 |
|
Total
borrowings |
86.578 |
130.830 |
202.749 |
|
Debt/Equity
ratio |
1.716 |
2.316 |
2.843 |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Total Income |
415.521 |
527.118 |
555.783 |
|
|
|
26.857 |
5.438 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Total Income |
415.521 |
527.118 |
555.783 |
|
Profit |
8.493 |
6.030 |
14.825 |
|
|
2.04% |
1.14% |
2.67% |
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) |
No |
|
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 |
No |
|
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 |
31.03.2013 (Rs.
in Million) |
31.03.2012 (Rs.
in Million) |
|
Long-term
Borrowings |
|
|
|
Loans from related parties |
1.930 |
6.230 |
|
Loans from others |
15.272 |
8.032 |
|
Total |
17.202 |
14.262 |
|
Note : Long-term
Borrowings The terms of payment of loans from related parties are not specified. In respect of borrowings o/s of Rs.3.550 Million from directors no interest is payable |
||
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10311823 |
28/09/2011 |
15,000,000.00 |
CANARA BANK |
CAMP BRANCH, 11,
M.G. ROAD, PUNE- 4 |
B23170764 |
|
2 |
10248896 |
14/08/2014 * |
229,500,000.00 |
CANARA BANK |
3RD FLOOR, RED
CROSS BUILDING, 11, M. G. ROAD, C |
C35364777 |
* Date of charge modification
CONTINGENT LIABILITY:
Guarantee issued by banks for performance/advance/retention money etc.
to customers on behalf of the company with the banker amounting to:
|
Particulars |
Amount (Rs. In Million) |
|
Bank Guarantee |
14.900 |
|
LC |
4.265 |
Guarantee issued by banks for performance/advance/retention money etc. to
customers on behalf of the company with the banker amounting to:
FIXED ASSETS
- Land
- Factory Building
- Plant and Machinery
- Furniture and Fixture
- Electrical Installation
- Office Equipment\computer
- Vehicle
- Software
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 records 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.65.04 |
|
|
1 |
Rs.99.58 |
|
Euro |
1 |
Rs.71.75 |
INFORMATION DETAILS
|
Information
Gathered by : |
DIP |
|
|
|
|
Analysis Done by
: |
KIN |
|
|
|
|
Report Prepared
by : |
RKI |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
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 |
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 |
|
29 |
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.