MIRA INFORM REPORT
|
Report No. : |
341686 |
|
Report Date : |
21.09.2015 |
IDENTIFICATION DETAILS
|
Name : |
HAFELE INDIA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Office No. 3, Building ‘A’ Beta, I-Think Techno Campus, Off JVLR,
Opposite Kanjurmarg Station, Kanjurmarg (East), Mumbai – 400042, Maharashtra |
|
Tel. No.: |
91-22-61426100 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.12.2014 |
|
|
|
|
Date of
Incorporation : |
05.05.2003 |
|
|
|
|
Com. Reg. No.: |
11-140300 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.421.068 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U51393MH2003PTC140300 |
|
|
|
|
IEC No.: |
0303011971 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMH06969E |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCH2726A |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject is engaged in the business of trading in furniture fittings, architectural hardware, Electronic locking systems and Tools. |
|
|
|
|
No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (46) |
|
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 was incorporated on 5th May, 2013. It is Mumbai
based, 100% subsidiary of German Major-Hafele Holding Gmbh and Company. It is
engaged in business of trading, importing and distributor of furniture
fittings. Reserves of the company is low during FY2014. However, management has
reported a significant improvement in its revenue base during FY14. The rating also takes into consideration its established brand
presence and business and financial support from its parent company. Trade relations are fair. Business is active. Payment terms are
reported to be usually correct. The company can be considered normal 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.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL Rating |
|
Rating |
Long Term Rating = A- |
|
Rating Explanation |
Have adequate degree of safety and carry
low. |
|
Date |
October 29, 2014 |
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 DECLINED
Management non-cooperative (Tel No.: 91-22-61426100)
LOCATIONS
|
Registered Office : |
Office No. 3, Building ‘A’ Beta, I-Think Techno Campus, Off JVLR,
Opposite Kanjurmarg Station, Kanjurmarg (East), Mumbai – 400042, Maharashtra,
India |
|
Tel. No.: |
91-22-61426100 |
|
Fax No.: |
91-22-66950922/ 67020531 |
|
E-Mail : |
abhijit.dansode@hafeleindia.com
abhishek.panchwagh@hafeleindia.com
anthony.jerson@hafeleindia.com |
|
Website : |
|
|
|
|
|
Design |
I-1676, |
|
Tel No.: |
91-11-41605481 |
|
Fax No.: |
91-11-41605482 |
|
Email: |
|
|
|
|
|
|
No. 14, Pushparang, |
|
Tel No.: |
91-80-41326116 |
|
Fax No.: |
91-80-41326226 |
|
Email: |
|
|
|
|
|
|
Park Side 8-2-348/4, Road No. 3, Above Almond House, Banjara Hill,
Hyderabad-500034, |
|
Tel No.: |
91-40-30284999/ 66668651 |
|
Fax No.: |
91-40-30284111 |
|
Email: |
DIRECTORS
As on 31.05.2014
|
Name : |
Mr. Jurgen Wolf |
|
Designation : |
Managing Director |
|
Address : |
Flat No.901, 9th Floor, Richmond Bldg, Hiranandani Gardens, Hiranandani, Powai, Mumbai - 400076, Maharashtra, India |
|
Date of Birth / Age: |
25.03.1957 |
|
Qualification : |
Graduate |
|
Date of Appointment : |
14.03.2007 |
|
PAN No.: |
AALPW4848B |
|
DIN No.: |
00152999 |
|
|
|
|
Name : |
Mr. Sibylle Annemarie Thierer |
|
Designation : |
Director |
|
Address : |
Breslauer STR 43, 722202, Nagold – 72202, Germany |
|
Date of Birth / Age: |
27.08.1960 |
|
Date of Appointment : |
04.05.2012 |
|
DIN No.: |
03551878 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 31.05.2014
|
Names of Shareholders |
|
No. of Shares |
|
Jurgen Wolf (Nominee of Hafele Holdings GmBH) |
|
1 |
|
Hafele Holding |
|
42106804 |
|
Total |
|
42106805 |
Equity Share Break up (Percentage of Total Equity)
As on 31.05.2014
|
Category |
Percentage |
|
Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s),
Non-resident Indian(s) or Overseas Corporate bodies or Others |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in the business of trading in furniture fittings, architectural hardware, Electronic locking systems and Tools. |
|
|
|
|
Products : |
|
|
|
|
|
Brand Names : |
Not Divulged |
|
|
|
|
Agencies Held : |
Not Divulged |
|
|
|
|
Exports : |
Not Divulged |
|
|
|
|
Imports : |
Not Divulged |
|
|
|
|
Terms : |
Not Divulged |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
|
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 : |
|
|
Name : |
S R Batliboi and Company Chartered Accountants |
|
Address : |
14th Floor, The Ruby2 9 , Senapati Bapat Marg, Mumbai, Maharashtra, India |
|
PAN N Income-tax PAN of auditor or auditor's firm : |
AALFS0506L |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Fellow Subsidiary
company: |
Hafele (Thailand) Limited, Thailand Hafele Berlin Gmbh and Co. Kg, Germany Hafele Denmark A/S, Denmark Hafele Engineering Asia HK Limited, China Hafele Mobilya Ve Insaat Donanimlari Sanayi Vetic. A.S. Hafele Taiwan Limited, Taiwan, Province of China Hafele U.K. Limited, United Kingdom Sphinx Electronics Gmbh and Co Kg., Germany Hafele America Co., United States Weber and Co. Gmbh Kg, Germany Hafele Japan K.K, Japan Hafele Vina Jsc, Viet Nam Hafelesingapore Pte Limited, Singapore Hafele Philippines Inc, Philippines Hafele Hardware Technogy (Bejing LCO Limited), China |
|
|
|
|
Holding company : |
Hafele Holding Gmbh and Co, Germany |
|
|
|
|
Ultimate Holding
company: |
Hafele Gmbh and Co. Kg, Germany |
CAPITAL STRUCTURE
As on 31.05.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
42200000 |
Equity Shares |
Rs.10/- each |
Rs.422.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
42106805 |
Equity Shares |
Rs.10/- each |
Rs.421.068
Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED
BALANCE SHEET
|
SOURCES
OF FUNDS |
31.12.2014 |
31.12.2013 |
31.12.2012 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
421.068 |
421.068 |
421.068 |
|
(b) Reserves & Surplus |
346.843 |
253.645 |
238.694 |
|
(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) |
767.911 |
674.713 |
659.762 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
77.173 |
3.099 |
0.000 |
|
(b) Deferred tax liabilities
(Net) |
0.000 |
0.000 |
0.000 |
|
(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) |
77.173 |
3.099 |
0.000 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
432.489 |
396.059 |
182.239 |
|
(b) Trade payables |
280.447 |
305.919 |
282.003 |
|
(c) Other current liabilities |
119.322 |
92.858 |
66.336 |
|
(d) Short-term provisions |
76.123 |
44.252 |
46.844 |
|
Total
Current Liabilities (4) |
908.381 |
839.088 |
577.422 |
|
|
|
|
|
|
TOTAL |
1753.465 |
1516.900 |
1237.184 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
258.190 |
272.532 |
201.474 |
|
(ii) Intangible Assets |
5.927 |
7.425 |
12.525 |
|
(iii) Capital work-in-progress |
6.558 |
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) |
9.708 |
13.688 |
39.770 |
|
(d) Long-term Loan and Advances |
38.646 |
39.390 |
33.764 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
319.029 |
333.035 |
287.533 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
839.630 |
792.826 |
551.377 |
|
(c) Trade receivables |
434.721 |
320.549 |
367.818 |
|
(d) Cash and cash equivalents |
36.237 |
5.980 |
15.119 |
|
(e) Short-term loans and
advances |
123.711 |
64.453 |
15.326 |
|
(f) Other current assets |
0.137 |
0.057 |
0.011 |
|
Total
Current Assets |
1434.436 |
1183.865 |
949.651 |
|
|
|
|
|
|
TOTAL |
1753.465 |
1516.900 |
1237.184 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.12.2014 |
31.12.2013 |
31.12.2012 |
|
|
SALES |
|
|
|
|
|
Income |
2756.504 |
2036.777 |
1746.207 |
|
|
Other Income |
|
82.587 |
20.085 |
|
|
TOTAL |
2756.504 |
2119.364 |
1766.292 |
|
|
|
|
|
|
|
Less |
TOTAL
EXPENSES |
2546.319 |
2032.141 |
1658.012 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
210.185 |
87.223 |
108.280 |
|
|
|
|
|
|
|
Less |
TAX |
69.580 |
58.183 |
1.941 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
140.605 |
29.040 |
106.339 |
|
|
|
|
|
|
|
|
EARNINGS
IN FOREIGN CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
3.313 |
2.708 |
7.942 |
|
|
Commission Income |
11.148 |
12.787 |
14.772 |
|
|
Other Income |
26.069 |
18.537 |
6.293 |
|
|
TOTAL
EARNINGS |
40.530 |
34.032 |
29.007 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
3.33 |
0.69 |
2.53 |
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.12.2014 |
31.12.2013 |
31.12.2012 |
|
Current Maturities of Long term debt |
2.635 |
2.403 |
0.000 |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net cash flows from (used in) operations |
90.761 |
(22.857) |
(0.533) |
|
Net cash flow from operating activity |
27.504 |
(57.211) |
40.179 |
KEY
RATIOS
|
PARTICULARS |
|
31.12.2014 |
31.12.2013 |
31.12.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
5.10 |
1.43 |
6.09 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
12.10 |
5.80 |
9.04 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.27 |
0.13 |
0.16 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.67 |
0.60 |
0.28 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.58 |
1.41 |
1.64 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particular |
31.12.2012 |
31.12.2013 |
31.12.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Share Capital |
421.068 |
421.068 |
421.068 |
|
Reserves & Surplus |
238.694 |
253.645 |
346.843 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
659.762 |
674.713 |
767.911 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
3.099 |
77.173 |
|
Short term borrowings |
182.239 |
396.059 |
432.489 |
|
Current Maturities Of Long-Term
Debts |
0.000 |
2.403 |
2.635 |
|
Total
borrowings |
182.239 |
401.561 |
512.297 |
|
Debt/Equity
ratio |
0.276 |
0.595 |
0.667 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.12.2012 |
31.12.2013 |
31.12.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Sales |
1766.292 |
2119.364 |
2756.504 |
|
|
|
19.989 |
30.063 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.12.2012 |
31.12.2013 |
31.12.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Sales |
1766.292 |
2119.364 |
2756.504 |
|
Profit |
106.339 |
29.040 |
140.605 |
|
|
6.02% |
1.37% |
5.10% |
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 |
Yes |
|
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 |
Yes |
|
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: Registered office of the company has been shifted from 4th Floor, JMC House Bislericompound Western Express High-Way, Andheri (East), Mumbai – 400099, Maharashtra, India to the present address w.e.f. 19.07.2010
PERFORMANCE:
The turnover of the company has been tremendously increased from INR 2119.364 Million (Previous F.Y.) to INR 2756.504 Million (Current F.Y.) which shows growth of 32percent (%) compare to previous financial year.
The profit for the year ending 31.03.2014 is INR 140.604 Million vs. INR 29.041 Million. The Company expects to continue to grow this year.
NATURE OF OPERATIONS
Hafele India Private Limited is a Private company, incorporated in year 2003, under the provisions of Companies Act 1956. The Company is engaged in the business of trading in furniture fittings, architectural hardware, Electronic locking systems and Tools. The Company also has presence in Sri Lanka and sells to Bhutan, Bangladesh and Nepal.
UNSECURED LOAN
|
Unsecured Loan |
31.12.2014 (Rs.
in Million) |
31.12.2013 (Rs.
in Million) |
|
Long-term
Borrowings |
|
|
|
Other loans and advances, others |
76.710 |
0.000 |
|
|
|
|
|
Short-term
borrowings |
|
|
|
Term loans from banks |
216.380 |
0.000 |
|
Other loans and advances |
180.504 |
355.900 |
|
Total |
473.594 |
355.900 |
INDEX
OF CHARGES
|
S.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10397993 |
03/12/2012 |
36,900,000.00 |
THE RATNAKAR BANK LIMITED |
SHAHUPURI,KOLHAPUR, KOLHAPUR, Maharashtra - 416001, INDIA |
B66225202 |
FIXED ASSETS
- Buildings
- Furniture and fixtures
- Vehicles
- Office equipment
- Leasehold improvements
- Computers
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.66.70 |
|
|
1 |
Rs.105.10 |
|
Euro |
1 |
Rs.77.10 |
INFORMATION DETAILS
|
Information
Gathered by : |
PRT |
|
|
|
|
Analysis Done by
: |
RSM |
|
|
|
|
Report Prepared
by : |
SUJ |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILITY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
3 |
|
--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 |
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 |
|
46 |
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.