MIRA
INFORM REPORT
|
Report No. : |
347257.2 |
|
Report Date : |
31.10.2015 |
IDENTIFICATION DETAILS
|
Name : |
DIXIT INFOTECH SERVICES PRIVATE LIMITED (w.e.f. 06.11.2000) |
|
|
|
|
Formerly Known
As : |
DIKSHIT DISTRIBUTORS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Unit No. B-505, Kohinoor Commercial-I, Kohinoor City Mall, |
|
Tel. No.: |
91-22-67162828 |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2015 |
|
|
|
|
Date of
Incorporation : |
28.07.1989 |
|
|
|
|
Com. Reg. No.: |
11-052793 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 7.000 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U51900MH1989PTC052793 |
|
|
|
|
IEC No.: |
Not Available |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMD09733D / MUMD10992C |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACD1678A |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Dealer, distributor of computer peripherals and service provider of IT
solutions. |
|
|
|
|
No. of Employees
: |
160 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (43) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject was established in the year 1989 and it is a dealer and
distributor of computer peripherals and also provides IT solutions. For the financial year ended 2015, company has reported 30.76% sales
turnover growth as compared to previous sales turnover but failed to
maintained profitability margins and reported low margins at 0.44% during the
year under a review. Rating takes into consideration company’s established track record of
business operations marked by its above average financial profile along with
modest debt protection metrics and favorable gap between trade payables to
its receivables. Trade relations are reported as fair. Payment terms are reported to be
slow but correct. In view of aforesaid, the company can be considered for business
dealings at usual trade terms and condition. |
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 |
Not Available |
|
Rating |
Not Available |
|
Rating Explanation |
Not Available |
|
Date |
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
31-03-2013.
INFORMATION PARTED BY
|
Name : |
Mr. Prathhamesh |
|
Designation : |
Account Executive |
|
Contact No.: |
91-22-67162828 |
|
Date : |
28.10.2015 |
LOCATIONS
|
Registered Office : |
Unit No. B-505, Kohinoor Commercial-I, Kohinoor City Mall, Kirol Road,
Kurla West, Mumbai – 400070, Maharashtra, India |
|
Tel. No.: |
91-22-67162828 |
|
Fax No.: |
91-22-22837203 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Branches : |
Located at: ·
New Delhi ·
Secunderabad ·
Bangalore ·
Chennai |
DIRECTORS
AS ON 30.09.2014
|
Name : |
Mr. Yegneshwaran Kalpathy Sivarama |
|
Designation : |
Director |
|
Address : |
14/391, Bharadwaj Building, Roop Nagar, Bandra [East], Mumbai –
400051, Maharashtra, India |
|
Date of Birth/Age : |
16.10.1926 |
|
Date of Appointment : |
28.07.1989 |
|
DIN No.: |
00581366 |
|
|
|
|
Name : |
Mr. Shivram Yegneswaran Iyer |
|
Designation : |
Director |
|
Address : |
14/391, Bharadwaj Building, Roop Nagar, Bandra [East], Mumbai –
400051, Maharashtra, India |
|
Date of Birth/Age : |
30.12.1961 |
|
Date of Appointment : |
28.07.1989 |
|
DIN No.: |
00591524 |
|
|
|
|
Name : |
Mr. Lakshmi Shivram Iyer |
|
Designation : |
Director |
|
Address : |
14/391, Bharadwaj Building, Roop Nagar, Bandra [East], Mumbai –
400051, Maharashtra, India |
|
Date of Birth/Age : |
11.08.1968 |
|
Date of Appointment : |
01.11.1996 |
|
DIN No.: |
00591643 |
KEY EXECUTIVES
|
Name : |
Mr. Irfan |
|
Designation : |
Account Executive |
MAJOR SHAREHOLDERS
AS ON 30.09.2014
|
Names of Shareholders |
No. of Shares |
Percentage of Holding |
|
Yegneshwaran Sivarama Kalpathi |
29820 |
42.60 |
|
Shivram Yegneshwaran Iyer |
27000 |
38.57 |
|
Lakshmi Shivram Iyer |
13180 |
18.83 |
|
|
|
|
|
Total |
70000 |
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 |
%2031-Oct-2015_files/image002.gif)
BUSINESS DETAILS
|
Line of Business : |
Dealer, distributor of computer peripherals and service provider of IT
solutions. |
|
|
|
|
Products : |
Not Divulged |
|
|
|
|
Brand Names : |
Not Available |
|
|
|
|
Agencies Held : |
·
CTTRIX ·
CISCO ·
SONICWALL ·
HP ·
Zimbra ·
Riverbed |
|
|
|
|
Exports : |
Not Divulged |
|
|
|
|
Imports : |
|
|
Products : |
Software |
|
Countries : |
·
USA ·
Singapore ·
Germany |
|
|
|
|
Terms : |
|
|
Selling : |
Cheque and Credit |
|
|
|
|
Purchasing : |
Cheque and Credit |
GENERAL INFORMATION
|
Suppliers : |
·
ORACLE ·
KASEYA |
||||||||||||||||||||||||||||||||||||
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|
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Customers : |
·
SONICWALL ·
Zimbra |
||||||||||||||||||||||||||||||||||||
|
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|
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No. of Employees : |
160 (Approximately) |
||||||||||||||||||||||||||||||||||||
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|
||||||||||||||||||||||||||||||||||||
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Bankers : |
·
Bank of India, D N Road, Fort, Mumbai,
Maharashtra, India |
||||||||||||||||||||||||||||||||||||
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Facilities : |
|
|
Auditors : |
|
|
Name : |
Shailesh A. Sangani Chartered Accountant |
|
Address : |
411, Dattani Trade Centre, Chandavakar Road, Mumbai – 400092, Maharashtra,
India |
|
PAN No.: |
AAIPS4312D |
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|
|
|
Memberships : |
-- |
|
|
|
|
Collaborators : |
-- |
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|
|
|
Enterprise : |
Dikshit and Company |
CAPITAL STRUCTURE
AS ON 30.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
80000 |
Equity Shares |
Rs. 100/- each |
Rs. 8.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
70000 |
Equity Shares |
Rs. 100/-
each |
Rs. 7.000
Million |
FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
7.000 |
7.000 |
7.000 |
|
(b) Reserves & Surplus |
40.595 |
37.015 |
35.601 |
|
(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) |
47.595 |
44.015 |
42.601 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
2.767 |
4.903 |
1.122 |
|
(b) Deferred tax liabilities (Net) |
0.828 |
0.650 |
0.723 |
|
(c) Other long term liabilities |
0.000 |
0.045 |
0.142 |
|
(d) long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current Liabilities (3) |
3.595 |
5.598 |
1.987 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
28.023 |
55.170 |
44.492 |
|
(b) Trade payables |
41.769 |
51.320 |
33.591 |
|
(c) Other current
liabilities |
36.437 |
0.981 |
18.001 |
|
(d) Short-term provisions |
0.000 |
0.000 |
0.000 |
|
Total Current Liabilities (4) |
106.229 |
107.471 |
96.084 |
|
|
|
|
|
|
TOTAL |
157.419 |
157.084 |
140.672 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
11.776 |
12.075 |
10.139 |
|
(ii) Intangible Assets |
0.000 |
0.336 |
0.306 |
|
(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 |
4.938 |
3.438 |
3.438 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
16.379 |
19.328 |
11.687 |
|
(e) Other Non-current assets |
0.154 |
1.575 |
1.280 |
|
Total Non-Current Assets |
33.247 |
36.752 |
26.850 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
10.837 |
13.135 |
12.385 |
|
(c) Trade receivables |
87.584 |
88.700 |
92.978 |
|
(d) Cash and cash
equivalents |
23.888 |
17.801 |
6.958 |
|
(e) Short-term loans and
advances |
1.863 |
0.696 |
1.501 |
|
(f) Other current assets |
0.000 |
0.000 |
0.000 |
|
Total Current Assets |
124.172 |
120.332 |
113.822 |
|
|
|
|
|
|
TOTAL |
157.419 |
157.084 |
140.672 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
687.377 |
528.171 |
597.090 |
|
|
|
Other Income |
1.870 |
0.402 |
0.498 |
|
|
|
TOTAL (A) |
689.247 |
528.573 |
597.588 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Purchases of Stock-in-Trade |
599.000 |
465.950 |
548.287 |
|
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
2.298 |
(0.750) |
(4.972) |
|
|
|
Administrative Expenses |
25.149 |
17.640 |
16.184 |
|
|
|
Employees benefits expense |
47.874 |
35.207 |
27.891 |
|
|
|
TOTAL (B) |
674.321 |
518.047 |
587.390 |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (A-B) (C) |
14.926 |
10.526 |
10.198 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
8.400 |
6.452 |
6.243 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
6.526 |
4.074 |
3.955 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
1.166 |
1.951 |
1.494 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F) (G) |
5.360 |
2.123 |
2.461 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
1.780 |
0.710 |
1.429 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-H) (I) |
3.580 |
1.413 |
1.032 |
|
|
|
|
|
|
|
|
|
|
Earnings / (Loss)
Per Share (Rs.) |
51.14 |
20.19 |
14.74 |
|
Expected Sales (2015-16): Rs. 790.000 Million
The above information has been parted by Mr. Prathmesh (Account
Executive)
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
Current Maturities of Long term debt |
NA |
NA |
NA |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net cash flow from (used in) operation |
NA |
NA |
NA |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
|
|
|
|
|
|
Net Profit Margin PAT / Sales |
(%) |
0.52 |
0.27 |
0.17 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/Sales) |
(%) |
2.17 |
1.99 |
1.71 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
3.52 |
1.38 |
1.79 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.11 |
0.05 |
0.06 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debts/Networth) |
|
0.65 |
1.36 |
1.07 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.17 |
1.12 |
1.18 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2013 |
31.03.2014 |
31.03.2015 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Share Capital |
7.000 |
7.000 |
7.000 |
|
Reserves & Surplus |
35.601 |
37.015 |
40.595 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
42.601 |
44.015 |
47.595 |
|
|
|
|
|
|
long-term borrowings |
1.122 |
4.903 |
2.767 |
|
Short term borrowings |
44.492 |
55.170 |
28.023 |
|
Current Maturities of Long
Term Debt |
0.000 |
0.000 |
0.000 |
|
Total
borrowings |
45.614 |
60.073 |
30.790 |
|
Debt/Equity
ratio |
1.071 |
1.365 |
0.647 |
%2031-Oct-2015_files/image004.gif)
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2013 |
31.03.2014 |
31.03.2015 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Sales |
597.090 |
528.171 |
687.377 |
|
|
|
(11.542) |
30.143 |
%2031-Oct-2015_files/image006.gif)
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2013 |
31.03.2014 |
31.03.2015 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Sales |
597.090 |
528.171 |
687.377 |
|
Profit |
1.032 |
1.413 |
3.580 |
|
|
0.17% |
0.27% |
0.52% |
%2031-Oct-2015_files/image008.gif)
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 |
Yes |
|
19 |
Major customers |
Yes |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
Yes |
|
22 |
Conduct of the banking account |
Yes |
|
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 |
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10540376 |
18/12/2014 |
11,597,095.44 |
Standard Chartered Bank |
SME Credit,
Crescenzo, 3A/F, Plot no. C-38 & 39, Maharashtra - 400051, INDIA |
C39092556 |
|
2 |
10247764 |
21/09/2010 |
35,000,000.00 |
Standard Chartered Bank |
SME Credit, 23-25 M G Road, Fort, Mumbai, Maharashtra - 400001, INDIA |
A97369128 |
UNSECURED LOANS
|
PARTICULAR |
31.03.2015 (Rs.
in Million) |
31.03.2014 (Rs.
in Million) |
|
LONG TERM
BORROWINGS |
|
|
|
Term loan from HDFC Bank Limited |
NA |
0.914 |
|
Term loan from ICICI Bank Limited |
NA |
1.908 |
|
Loan from directors |
NA |
0.800 |
|
|
|
|
|
SHORT TERM
BORROWINGS |
|
|
|
Term loan from HDFC Bank Limited |
NA |
0.944 |
|
Term loan from ICICI Bank Limited |
NA |
0.879 |
|
Total |
NA |
5.445 |
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 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. 65.22 |
|
UK Pound |
1 |
Rs. 99.93 |
|
Euro |
1 |
Rs. 65.22 |
INFORMATION DETAILS
|
Information Gathered
by : |
PPT |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
JYO |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILITY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
|
43 |
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.