MIRA INFORM REPORT
|
Report No. : |
339588 |
|
Report Date : |
04.09.2015 |
IDENTIFICATION DETAILS
|
Name : |
EUROTEK ENVIRONMENTAL PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
E-51, G.I.D.C., Manjusar, Taluka: Savli, Vadodara – 391 775, Gujarat |
|
Tel. No.: |
91-2667-264462 |
|
|
|
|
Country : |
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|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
23.10.2008 |
|
|
|
|
Com. Reg. No.: |
04-055301 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.7.525
million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U29259GJ2008PTC055301 |
|
|
|
|
IEC No.: |
3408004668 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
BRDE00422C |
|
|
|
|
PAN No.: [Permanent Account No.] |
AACCE0720C |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer, Exporter and Importer of Water Treatment Plant. |
|
|
|
|
No. of Employees
: |
80 (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 : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an
established company having satisfactory track record. General financial
position of the company seems to be sound and healthy. Profitability of the
company is fair. Trade relations
are fair. Business is active. Payment terms are reported to be usually
correct. 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 |
CRISIL |
|
Rating |
Long-Term Rating: BB |
|
Rating Explanation |
Inadequate-credit-quality and high credit risk. |
|
Date |
02.02.2015 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short-Term Rating: A4+ |
|
Rating Explanation |
Minimal degree of safety and very high credit risk. |
|
Date |
02.02.2015 |
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
31-03-2013.
INFORMATION PARTED BY
|
Name : |
Mr. Raja Kumar V. Kurra |
|
Designation : |
Director |
|
Contact No.: |
91-9377725884 |
|
Date : |
03.09.2015 |
LOCATIONS
|
Registered Office/ Factory/ Head Quarter : |
E-51, G.I.D.C., Manjusar, Taluka: Savli, Vadodara – 391 775, Gujarat,
India |
|
Tel. No.: |
91-2667-264462/ 264463 |
|
Mobile No.: |
91-9377725884 (Mr. Raja Kumar V. Kurra) |
|
Fax No.: |
91-2667-264464 |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
35000 sq. ft. |
|
Location : |
Owned |
|
|
|
|
Branch Office 1 : |
S-9,
Technocrat Industrial Estate, Behind Andhra Bank, Balanagar, Hyderabad – 500
037, Telangana, India |
|
|
|
|
Branch Office 2 : |
# 32-A, Shadi
Khampur, Main Patel Road, Opposite Metro Pillar No.225, West Patel Nagar, New Delhi – 110 008, India |
DIRECTORS
AS ON 30.09.2013
|
Name : |
Mr. Raja
Kumar V. Kurra |
|
Designation : |
Director |
|
Address : |
101, Rivulet Apartments, Krishnakrupa Society, Vadodara – 390 008,
Gujarat, India |
|
Date of Birth/Age : |
01.08.1979 |
|
Date of Appointment : |
23.10.2008 |
|
DIN No.: |
02240665 |
|
|
|
|
Name : |
Mrs. Hiral Rajkumar Kurra |
|
Designation : |
Director |
|
Address : |
101, Rivulet Apartments, Krishnakrupa Society, Vadodara – 390 008,
Gujarat, India |
|
Date of Birth/Age : |
02.10.1983 |
|
Date of Appointment : |
23.10.2008 |
|
DIN No.: |
02240681 |
KEY EXECUTIVES
|
Name : |
M.H. Dave and Company |
|
Designation : |
Company Secretaries |
|
Address : |
17/B, Ankur Park, Opposite GEB Sub Station, Subhanpura, Vadodara – 390
023, Gujarat, India |
|
Tel. No.: |
91-265-2280118 |
|
Mobile No.: |
91-9825482575 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2013
|
Names of Shareholders |
No. of Shares |
Percentage of Holding |
|
Raja Kumar V. Kurra |
477500 |
63.46 |
|
Hiral Rajkumar Kurra |
155000 |
20.60 |
|
Venkateshwar
Rao Kurra |
60000 |
7.97 |
|
Ratna
Kumari Kurra |
60000 |
7.97 |
|
Total
|
752500 |
100.00 |
AS ON 30.09.2013
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Directors
or relatives of directors |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer, Exporter and Importer of Water Treatment Plant. |
|
|
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|
Products/ Services : |
|
|
|
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|
Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
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Products : |
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Countries : |
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Imports : |
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Products : |
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Countries : |
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|
Terms : |
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Selling : |
Cash, TT and Credit |
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Purchasing : |
Cash, TT and Credit |
PRODUCTION STATUS: NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
Wholesalers and Retailers
|
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No. of Employees : |
80 (Approximately) |
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|
||||||||||||||||||||||
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Bankers : |
Central Bank of India, Nizampura Branch, Nizampura, Vadodara – 390
002, Gujarat, India |
||||||||||||||||||||||
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|
||||||||||||||||||||||
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Facilities : |
|
|
Auditors : |
|
|
Name : |
Vinesh Mehta and Company Chartered Accountants |
|
Address : |
202, Amit Complex, Opposite Panchratna Apartment, Subhanpura, Vadodara
– 390 023, Gujarat, India |
|
Tel. No.: |
91-265-6581987 |
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E-Mail : |
|
|
Income-tax
PAN of auditor or auditor's firm : |
ADUPM3254H |
|
|
|
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Memberships : |
Not Available |
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|
|
|
Collaborators : |
Not Available |
|
|
|
|
Related Parties (Management and Control of director) – As on
31.03.2013 : |
·
Eurotek Environment – Hyderabad ·
Eurotek Environment – Vadodara ·
Water Matrix Tech (UAE) ·
SnishH2O Private Limited |
CAPITAL STRUCTURE
AS ON 30.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
1000000 |
Equity Shares |
Rs.10/- each |
Rs.10.000 million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
752500 |
Equity Shares |
Rs.10/- each
|
Rs.7.525
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 |
7.525 |
6.025 |
4.025 |
|
(b) Reserves & Surplus |
28.035 |
16.952 |
11.201 |
|
(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) |
35.560 |
22.977 |
15.226 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
15.392 |
7.681 |
8.380 |
|
(b) Deferred tax liabilities (Net) |
0.352 |
0.352 |
0.170 |
|
(c)
Other long term liabilities |
0.000 |
0.000 |
0.000 |
|
(d)
Long-term provisions – Gratuity |
0.328 |
0.000 |
0.000 |
|
Total
Non-current Liabilities (3) |
16.072 |
8.033 |
8.550 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
22.572 |
34.189 |
18.746 |
|
(b)
Trade payables |
51.685 |
37.130 |
22.478 |
|
(c)
Other current liabilities |
5.109 |
6.461 |
23.732 |
|
(d)
Short-term provisions |
0.000 |
0.218 |
0.036 |
|
Total
Current Liabilities (4) |
79.366 |
77.998 |
64.992 |
|
|
|
|
|
|
TOTAL |
130.998 |
109.008 |
88.768 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i)
Tangible assets |
30.833 |
37.351 |
22.527 |
|
(ii)
Intangible Assets |
0.415 |
0.179 |
0.299 |
|
(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 |
0.007 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan
and Advances |
10.999 |
0.261 |
0.202 |
|
(e)
Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
42.247 |
37.791 |
23.035 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
11.001 |
15.664 |
21.059 |
|
(c)
Trade receivables |
40.049 |
38.770 |
25.966 |
|
(d)
Cash and cash equivalents |
30.161 |
13.742 |
17.799 |
|
(e)
Short-term loans and advances |
7.540 |
3.041 |
0.909 |
|
(f)
Other current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
88.751 |
71.217 |
65.733 |
|
|
|
|
|
|
TOTAL |
130.998 |
109.008 |
88.768 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue
from operations (Net) |
176.146 |
151.539 |
98.949 |
|
|
|
Other
non-operating Income |
0.113 |
0.000 |
0.004 |
|
|
|
TOTAL (A) |
176.259 |
151.539 |
98.953 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost
of Material Sold |
120.527 |
93.032 |
55.971 |
|
|
|
Employee
Expenses |
15.299 |
19.948 |
11.344 |
|
|
|
Other
Expenses |
21.969 |
25.893 |
21.791 |
|
|
|
TOTAL (B) |
157.795 |
138.873 |
89.106 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
18.464 |
12.666 |
9.847 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
4.731 |
1.575 |
1.867 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
13.733 |
11.091 |
7.980 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
2.651 |
2.661 |
1.891 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
11.082 |
8.430 |
6.089 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
0.000 |
2.679 |
1.885 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
11.082 |
5.751 |
4.204 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
NA |
USD 55778.45 |
USD 60000.00 |
|
|
|
|
|
|
|
|
|
|
VALUE OF IMPORT
ON CIF BASIS |
NA |
USD 216101.35 EURO 24679.20 |
USD 614720.36 EURO 3345.20 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
14.73 |
9.55 |
NA |
|
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 |
NA |
NA |
NA |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
6.29 |
3.80 |
4.25 |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
10.48 |
8.36 |
9.95 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
8.46 |
7.73 |
6.86 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.31 |
0.37 |
0.40 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
1.07 |
1.82 |
1.78 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.12 |
0.91 |
1.01 |
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 |
4.025 |
6.025 |
7.525 |
|
Reserves & Surplus |
11.201 |
16.952 |
28.035 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net worth |
15.226 |
22.977 |
35.560 |
|
|
|
|
|
|
Long-term borrowings |
8.380 |
7.681 |
15.392 |
|
Short term borrowings |
18.746 |
34.189 |
22.572 |
|
Total borrowings |
27.126 |
41.870 |
37.964 |
|
Debt/Equity ratio |
1.782 |
1.822 |
1.068 |
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 |
|
Revenue from operations (Net) |
98.949 |
151.539 |
176.146 |
|
|
|
53.149 |
16.238 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
Rs. In Million |
Rs. In Million |
Rs. In Million |
|
Revenue from operations (Net) |
98.949 |
151.539 |
176.146 |
|
Profit |
4.204 |
5.751 |
11.082 |
|
|
4.25% |
3.80% |
6.29% |
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 |
Yes |
|
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 |
-- |
|
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 |
NOTE:
The registered office of the company has been shifted from 307-309,
3rd Floor, Lakulesh Avenue, Near Deluxe Char Rasta, Nizampura,
Vadodara – 390 002, Gujarat to the present address w.e.f. 05.03.2010.
UNSECURED LOAN
|
PARTICULARS |
31.03.2014 (Rs.
in Million) |
31.03.2013 (Rs.
in Million) |
|
LONG TERM BORROWINGS |
|
|
|
From Sister
Company (Directors are
interested) |
NA |
2.891 |
|
In Foreign
Currency (Director are
interest – Total US $ 60000) |
NA |
3.258 |
|
Total |
NA |
6.149 |
INDEX
OF CHARGES:
|
S. No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number
(SRN) |
|
1 |
10564051 |
28/05/2015 * |
100,000,000.00 |
BANK OF BARODA |
ALKAPURI BRANCH, R.C. DUTT
ROAD, VADODARA, GUJARAT |
C61949962 |
* Date of charge modification
FIXED ASSETS:
·
Freehold Land
·
Leasehold GIDC Land
·
Building
·
Electrification
·
Furniture and Fixtures
·
Vehicles
·
Crane
·
Computer
·
Office Equipments
·
Tools and Tackles
·
Weighing Scale
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.66.23 |
|
UK Pound |
1 |
Rs.101.22 |
|
Euro |
1 |
Rs.74.33 |
INFORMATION DETAILS
|
Information
Gathered by : |
SPR |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
SMN |
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 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
4 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--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.