MIRA INFORM REPORT
|
Report No. : |
340008 |
|
Report Date : |
05.09.2015 |
IDENTIFICATION DETAILS
|
Name : |
BLUE CROSS COMMODITIES PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Unit No.1003, Cello Triumph, I.B. Patel Road, Off. Western Express
Highway, Goregaon (East), Mumbai – 400063, Maharashtra |
|
Tel. No.: |
91-22-67087288 |
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|
|
Country : |
India |
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Financials (as
on) : |
31.03.2014 |
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Date of Incorporation
: |
25.11.2009 |
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Com. Reg. No.: |
11-197320 |
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Capital
Investment / Paid-up Capital : |
Rs.30.500 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U51109MH2009PTC197320 |
|
|
|
|
IEC No.: |
0310017017 |
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|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMB20660D |
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PAN No.: [Permanent Account No.] |
AADCB9363P |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
The Company is in the business of Bitumen and Bituminous Products. |
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|
No. of Employees
: |
Information declined by the management |
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 |
|
Maximum Credit Limit : |
USD 120000 |
|
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|
|
Status : |
Moderate |
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|
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is established company having a moderate track record. During FY-14, the company possesses a moderate financial profile,
networth along with modest debt protection metrics. Management has witnessed a healthy operational revenue as well as
noted a low profit margin during FY 14. Trade relations seem to be fair. Business is active. Payment terms are
slow but correct. 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
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 DENIED BY
|
Name : |
Mr. Vaishali Solanki |
|
Designation : |
Admin Executive |
|
Contact No.: |
91-22-67087288 |
|
Date : |
04.09.2015 |
LOCATIONS
|
Registered / Administrative Office : |
Unit No.1003, Cello Triumph, I.B. Patel Road, Off. Western Express
Highway, Goregaon (East), Mumbai – 400063, Maharashtra, India |
|
Tel. No.: |
91-22-67087288 / 89 / 90 / 91 |
|
Fax No.: |
91-22- 67087292 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Yard and Works : |
Plot No.116/3, Taloja Majkur, Taluka-Panvel, District-Raigad,
Maharashtra, India |
|
Tel. No.: |
91-22-67087291 |
|
|
|
|
Branches : |
Located at: ·
Gawahati ·
Bangalore |
|
|
|
|
Depot : |
Located at: ·
Amravati ·
Akola |
DIRECTORS
AS ON 30.09.2014
|
Name : |
Mr. Siddharth Prakash Bihani |
|
Designation : |
Director |
|
Address : |
36, Queens Lawn, 967, SV Road, Vile Parle (East), Mumbai – 400056,
Maharashtra, India |
|
Date of Birth/Age : |
30.06.1984 |
|
Date of Appointment : |
25.11.2009 |
|
DIN No.: |
01662255 |
|
|
|
|
Name : |
Dina Prakshchand Bihani |
|
Designation : |
Director |
|
Address : |
36, Queens Lawn, 967, SV Road, Vile Parle (East), Mumbai – 400056,
Maharashtra, India |
|
Date of Birth/Age : |
19.01.1950 |
|
Date of Appointment : |
01.08.2012 |
|
DIN No.: |
01848014 |
|
|
|
|
Name : |
Nikita Siddharth Bihani |
|
Designation : |
Director |
|
Address : |
36, Queens Lawn, 967 , SV Road, Vile Parle (East), Mumbai – 400056,
Maharashtra, India |
|
Date of Birth/Age : |
27.12.1983 |
|
Date of Appointment : |
14.11.2011 |
|
DIN No.: |
05100789 |
KEY EXECUTIVES
|
Name : |
Mr. Vaishali Solanki |
|
Designation : |
Admin Executive |
MAJOR SHAREHOLDERS
AS ON 30.09.2014
|
Names of Shareholders |
|
No. of Shares |
|
Siddharth Prakash Bihani |
|
2005000 |
|
Dina Prakshchand Bihani |
|
5000 |
|
Nikita Siddharth Bihani |
|
432900 |
|
Salome Apurva Vora |
|
607100 |
|
|
|
|
|
Total |
|
3050000 |
LIST OF ALLOTTEE
AS ON 30.05.2015
|
Names of Shareholders |
|
No. of Shares |
|
Siddharth Prakash Bihani |
|
50000 |
|
|
|
|
|
Total |
|
50000 |
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 : |
The Company is in the business of Bitumen and Bituminous Products. |
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|
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|
Products : |
Bitumen and Bituminous Products |
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|
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Brand Names : |
Not Divulged |
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Agencies Held : |
Not Divulged |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
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Selling : |
Not Divulged |
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Purchasing : |
Not Divulged |
PRODUCTION STATUS – NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
Information declined by the management |
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Bankers : |
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Facilities : |
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Auditors : |
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|
Name : |
Jain Ambavat and Associates Chartered Accountants |
|
Address : |
10, Chemox House, 3rd Floor, 7 Barrack Road, Opposite Bombay Hospital,
Above Panchvati Hotel, Mumbai – 400020, Maharashtra, India |
|
Tel. No.: |
91-22-43473635-40 |
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PAN No.: |
AAAFJ1780E |
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Memberships : |
Not Divulged |
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Collaborators : |
Not Divulged |
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Firm in Which Directors / Relatives are Interested
: |
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CAPITAL STRUCTURE
AFTER 30.09.2014
Authorised Capital: Rs.90.500 Million
Issued, Subscribed & Paid-up Capital: Rs.90.500
Million
AS ON 30.09.2014
Authorised Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3050000 |
Equity Shares |
Rs.10/- each |
Rs.30.500 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3050000 |
Equity Shares |
Rs.10/- each |
Rs.30.500 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 |
30.500 |
30.500 |
0.100 |
|
(b) Reserves & Surplus |
12.142 |
5.208 |
2.281 |
|
(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) |
42.642 |
35.708 |
2.381 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
89.860 |
10.336 |
1.621 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.007 |
|
(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) |
89.860 |
10.336 |
1.628 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
69.554 |
103.463 |
36.739 |
|
(b) Trade
payables |
201.612 |
105.684 |
67.991 |
|
(c) Other
current liabilities |
41.119 |
39.060 |
24.045 |
|
(d) Short-term
provisions |
13.234 |
5.948 |
2.953 |
|
Total Current
Liabilities (4) |
325.519 |
254.155 |
131.728 |
|
|
|
|
|
|
TOTAL |
458.021 |
300.199 |
135.737 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
13.656 |
11.655 |
5.019 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
1.519 |
0.000 |
0.000 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.001 |
0.001 |
0.001 |
|
(c) Deferred tax assets (net) |
0.474 |
0.074 |
0.000 |
|
(d) Long-term Loan and Advances |
6.148 |
6.460 |
6.940 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.013 |
|
Total Non-Current Assets |
21.798 |
18.190 |
11.973 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
56.226 |
44.741 |
50.353 |
|
(c) Trade
receivables |
285.971 |
212.304 |
52.913 |
|
(d) Cash and
cash equivalents |
25.277 |
21.103 |
9.651 |
|
(e)
Short-term loans and advances |
67.166 |
1.122 |
6.111 |
|
(f) Other
current assets |
1.583 |
2.739 |
4.736 |
|
Total
Current Assets |
436.223 |
282.009 |
123.764 |
|
|
|
|
|
|
TOTAL |
458.021 |
300.199 |
135.737 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
935.613 |
640.113 |
211.292 |
|
|
|
Other Income |
NA |
NA |
NA |
|
|
|
TOTAL (A) |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL (B) |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
12.663 |
5.836 |
2.542 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
10.328 |
6.049 |
0.463 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D)
(E) |
2.335 |
(0.213 |
2.079 |
|
|
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION (F) |
2.542 |
1.591 |
0.665 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX (E-F) (G) |
(0.207) |
(1.804) |
1.414 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
(7.140) |
(4.731) |
0.196 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
AFTER TAX (G-H) (I) |
6.933 |
2.927 |
1.218 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
2.27 |
2.05 |
121.75 |
|
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current Maturities
of Long term debt |
|
|
|
|
Kotak Mahindra Car Loan (Fully secured by Hypothecation of Car) |
0.103 |
0.092 |
0.083 |
|
HDFC Bank Tanker Loan (Fully secured by Hypothecation of Tanker) |
0.538 |
0.478 |
0.424 |
|
Bank of Baroda-Term Loan (Fully secured by Hypothecation of Plant and Machinery) |
0.835 |
0.288 |
0.000 |
|
TOTAL
|
1.476 |
0.858 |
0.507 |
|
|
|
|
|
|
Cash generated from operations |
NA |
NA |
NA |
|
Net cash flow from (used in) operations |
NA |
NA |
NA |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin PAT / Sales |
(%) |
0.74 |
0.46 |
0.58 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/Sales) |
(%) |
1.35 |
0.91 |
1.20 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets) |
(%) |
(0.05) |
(0.60) |
1.04 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.00 |
(0.05) |
0.59 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
3.77 |
3.21 |
16.32 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.34 |
1.11 |
0.94 |
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 |
30.500 |
30.500 |
|
Reserves & Surplus |
2.281 |
5.208 |
12.142 |
|
Net
worth |
2.381 |
35.708 |
42.642 |
|
|
|
|
|
|
long-term borrowings |
1.621 |
10.336 |
89.860 |
|
Short term borrowings |
36.739 |
103.463 |
69.554 |
|
Current Maturities of Long term debt |
0.507 |
0.858 |
1.476 |
|
Total
borrowings |
38.867 |
114.657 |
160.890 |
|
Debt/Equity
ratio |
16.324 |
3.211 |
3.773 |
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 |
211.292 |
640.113 |
935.613 |
|
|
|
202.952 |
46.164 |
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
|
211.292 |
640.113 |
935.613 |
|
Profit |
1.218 |
2.927 |
6.933 |
|
|
0.58% |
0.46% |
0.74% |
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 |
No |
|
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 |
No |
|
32 |
Litigations that the firm/promoter
involved in |
-- |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
NOTE: The Registered
office has again shifted from Office No.17, Dheeraj Heritage, 5th
Floor, Near Milan Subway, Santacruz (West), Mumbai – 400054, Maharashtra, India
to the present address w.e.f. 14.06.2013
UNSECURED LOANS:
|
Particulars |
31.03.2014 Rs. In Million |
31.03.2013 Rs. In Million |
|
Long Term Borrowings |
|
|
|
From directors and related parties |
38.263 |
0.000 |
|
From Others |
45.460 |
0.000 |
|
|
|
|
|
Short Term Borrowings |
|
|
|
From Others |
0.000 |
19.641 |
|
|
|
|
|
Total |
83.723 |
19.641 |
INDEX OF CHARGE:
|
Sr. No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10488878 |
14/03/2014 |
10,000,000.00 |
Bank of Baroda |
Bank of Baroda, Kitchen Garden Lane, 1st Floor, Mangaldas Market, Mumbai, Maharashtra - 400002, India |
C02564839 |
|
2 |
10344669 |
20/12/2012 * |
87,500,000.00 |
Bank of Baroda |
Mangaldas Market Branch, Kitchen Garden Lane, 1st Floor, 375/382,, Mumbai, Maharashtra - 400002, India |
B65150146 |
*Date of modification Charges
FIXED ASSETS:
· Air Conditioner
· Apple (Ipad)
· Bowzer Tanker
· Camera
· Security Camera
· Car – BMW
· Car - I20
· Computer (Archy 2)
· Computer
· Decanting Tank No. 2
· Decanting Tank
· Furniture and Fixtures
· HP Printer
· Lan System
· Office furniture and fittings- Goregaon
· Office Equipment
· Plant and Machinery
· Telephone and Mobile Instrument
· Water dispenser
· Water RO+UV
· Weighing Scale
· Shed-Taloja
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 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.66.40 |
|
|
1 |
Rs.101.19 |
|
Euro |
1 |
Rs.73.89 |
INFORMATION DETAILS
|
Information
Gathered by : |
NYA |
|
|
|
|
Analysis Done by
: |
KAS |
|
|
|
|
Report Prepared
by : |
NKT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILITY |
1~10 |
3 |
|
--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 |
|
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.