MIRA INFORM REPORT
|
Report No. : |
341825 |
|
Report Date : |
19.09.2015 |
IDENTIFICATION DETAILS
|
Name : |
HETTICH INDIA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
3rd Floor, Durolite House, Opposite SAB TV Tower, New Link
Road, Andheri (West), Mumbai - 400053, Maharashtra |
|
Tel. No.: |
91-22-26743289 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.12.2013 |
|
|
|
|
Date of
Incorporation : |
29.11.1999 |
|
|
|
|
Com. Reg. No.: |
11-161129 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.58.000 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U36109MH1999PTC161129 |
|
|
|
|
IEC No.: |
0400022435 |
|
|
|
|
TAN No.: [Tax Deduction & Collection
Account No.] |
MUMH10141F |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACH8849M |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer, Trader and Importer of Furniture Accessories. |
|
|
|
|
No. of Employees
: |
40 (Approximately) |
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 : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track. Management of the subject has failed to file its latest financials with government department for the year 2014. However as per the FY2013 company’s operational performance seems to be good with decent profitability margins. Rating also reflects company’s sound financial risk profile supported by healthy net worth base and good liquidity position during the year 2013. Moreover the company also has strong support from its foreign holding company. Trade relations are fair. Business is active. Payment terms are slow but correct. In view of the aforesaid company can be considered 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 |
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
31-03-2015.
INFORMATION PARTED BY (GENERAL DETAILS)
|
Name : |
Mr. Anil Kumar |
|
Designation : |
Logistic Manager |
|
Contact No.: |
91-22-26743289 |
|
Date : |
18.09.2015 |
LOCATIONS
|
Registered Office : |
3rd Floor, Durolite House, Opposite SAB TV Tower, New Link
Road, Andheri (West), Mumbai - 400053, Maharashtra, India |
|
Tel. No.: |
91-22-26743289/ 3356/ 4089 |
|
Fax No.: |
91-22-26743267 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Factory: |
Plot No. 304 to 309, 311 to 316 Dhanora- Nandesari Road,
Dhanora |
|
|
|
|
Branch Office : |
Located at
|
DIRECTORS
AS ON 31.03.2015
|
Name : |
Mr. Anil Kumar Goel |
|
Designation : |
Managing director |
|
Address : |
70, Rajdhani Enclave, Pitampura, New Delhi - 110034, India |
|
Date of Birth/Age : |
01.02.1958 |
|
Qualification : |
B.Com (ACA) |
|
Date of Appointment : |
01.01.2005 |
|
DIN No.: |
00103997 |
|
PAN No.: |
ABWPG4504A |
|
|
|
|
Name : |
Mr. Saroj Kumar Poddar |
|
Designation : |
Director |
|
Address : |
Poddar Niket, 2, Gurusaday Road, Calcutta - 700019, West
Bengal, India |
|
Date of Birth/Age : |
15.09.1945 |
|
Date of Appointment : |
29.01.2001 |
|
DIN No.: |
00008654 |
|
PAN No.: |
AFTPP2386N |
|
|
|
|
Name : |
Mr. Andreas Berthold Hettich |
|
Designation : |
Director |
|
Address : |
Im Groben Vorwerk 25, Herford, 32049, Germany |
|
Date of Birth/Age : |
13.08.1969 |
|
Date of Appointment : |
16.12.2008 |
|
DIN No.: |
02366338 |
|
|
|
|
Name : |
Mr. Akshay Poddar |
|
Designation : |
Additional director |
|
Address : |
Poddar Niket, 2, Gurusaday Road, Calcutta - 700019, West Bengal,
India |
|
Date of Appointment : |
29.08.2014 |
|
DIN No.: |
00008686 |
|
PAN No.: |
AFUPP0096C |
|
|
|
|
Name : |
Mr. Dieter Wirths |
|
Designation : |
Director appointed in casual vacancy |
|
Address : |
Lindenstrabe 11, Hiddenhausen, 32120, Germany |
|
Date of Birth/Age : |
31.08.1952 |
|
Date of Appointment : |
01.06.2012 |
|
DIN No.: |
05254007 |
KEY EXECUTIVES
|
Name : |
Mr. Sujeet Kumar |
|
Designation : |
Secretary |
|
Address : |
C 137, National Apartment , Plot No 4 , Sector-3, Dwarka, New
Delhi, 110075, India |
|
Date of Birth/Age : |
22.09.1970 |
|
Date of Appointment : |
10.12.2013 |
|
PAN No: |
AAJPK0878R |
|
|
|
|
Name : |
Mr. Anil Kumar |
|
Designation : |
Logistic Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 07.05.2014
|
Names of Shareholders |
No. of Shares |
%age
holding |
|
Anton Hettich Austandbeteiligungs Verwaltungs GmbH, |
2900000 |
50.00 |
|
Aventz Investments and Holding Limited, India |
450000 |
7.76 |
|
Saroj Kumar Poddar |
1550000 |
26.72 |
|
Akshay Poddar |
700000 |
12.07 |
|
Adventz Securities Trading Private Limited, India |
200000 |
3.45 |
|
Total |
5800000 |
100.00 |
Equity Share Break up (Percentage of Total Equity)
As on 07.05.2014
|
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 |
50.00 |
|
Bodies corporate |
11.21 |
|
Directors or relatives of Directors |
38.79 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer, Trader and Importer of Furniture Accessories. |
|
|
|
|
Products : |
Furniture Accessories |
|
|
|
|
Brand Names : |
Not Available |
|
|
|
|
Agencies Held : |
Not Available |
|
|
|
|
Exports : |
Not Divulged |
|
|
|
|
Imports : |
|
|
Products : |
Raw Material |
|
Countries : |
Germany |
|
|
|
|
Terms : |
|
|
Selling : |
Cash, Advance Payment and Credit |
|
|
|
|
Purchasing : |
Cash, Advance Payment and Credit |
PRODUCTION STATUS: NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
Wholesalers, Retailers and End Users
|
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No. of Employees : |
400 (Approximately) |
||||||||||||||||||||||||
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|
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Bankers : |
The Hongkong and Shanghai Banking Corporation Limited, Plot No-139-140B, Shiv Building Sahar Road Junction, Western Express Highway, Vile Parle (East), Mumbai-400057, Maharashtra, India
|
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Facilities : |
|
|
Auditors : |
|
|
Name : |
Deloitte Haskins and Sells Chartered Accountants |
|
Address : |
Heritage, 3rd Floor, Near Gujarat Vidhyapith, Off Ashram
Road, Ahmedabad-380014, Gujarat, India |
|
PAN N Income-tax PAN of auditor or auditor's firm : |
AABFD7919A |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Associates (AS
ON 31.12.2013): |
CIN
No.: U51109WB1994PTC065332
CIN
No.: L51226WB1985PLC039055
|
CAPITAL STRUCTURE
As on 31.12.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
6000000 |
Equity Shares |
Rs.10/- each |
Rs.60.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5800000 |
Equity Shares |
Rs.10/- each |
Rs.58.000
Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED
BALANCE SHEET
|
SOURCES
OF FUNDS |
31.12.2013 |
31.12.2012 |
31.12.2011 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
58.000 |
58.000 |
58.000 |
|
(b) Reserves & Surplus |
1595.430 |
1242.246 |
961.135 |
|
(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) |
1653.430 |
1300.246 |
1019.135 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
312.088 |
133.233 |
0.000 |
|
(b) Deferred tax liabilities
(Net) |
28.507 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
5.308 |
8.507 |
6.640 |
|
Total
Non-current Liabilities (3) |
345.903 |
141.740 |
6.640 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
65.906 |
13.878 |
2.837 |
|
(b) Trade payables |
641.483 |
595.673 |
417.624 |
|
(c) Other current liabilities |
98.155 |
108.712 |
33.896 |
|
(d) Short-term provisions |
143.776 |
121.856 |
90.324 |
|
Total
Current Liabilities (4) |
949.320 |
840.119 |
544.681 |
|
|
|
|
|
|
TOTAL |
2948.653 |
2282.105 |
1570.456 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
883.067 |
169.417 |
164.031 |
|
(ii) Intangible Assets |
2.608 |
10.077 |
17.654 |
|
(iii) Capital work-in-progress |
4.560 |
270.170 |
51.892 |
|
(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) |
0.000 |
17.633 |
12.372 |
|
(d) Long-term Loan and Advances |
132.891 |
70.795 |
25.458 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
1023.126 |
538.092 |
271.407 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
124.554 |
164.844 |
|
(b) Inventories |
1006.411 |
791.384 |
561.215 |
|
(c) Trade receivables |
706.305 |
649.303 |
507.472 |
|
(d) Cash and cash equivalents |
85.701 |
138.879 |
49.184 |
|
(e) Short-term loans and
advances |
127.110 |
39.893 |
16.334 |
|
(f) Other current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
1925.527 |
1744.013 |
1299.049 |
|
|
|
|
|
|
TOTAL |
2948.653 |
2282.105 |
1570.456 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.12.2013 |
31.12.2012 |
31.12.2011 |
|
|
SALES |
|
|
|
|
|
Income |
NA |
NA |
2377.178 |
|
|
Other Income |
NA |
NA |
|
|
|
TOTAL
|
NA |
NA |
2377.178 |
|
|
|
|
|
|
|
Less |
EXPENSES |
NA |
NA |
1930.401 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
NA |
NA |
446.777 |
|
|
|
|
|
|
|
Less |
TAX
( |
NA |
NA |
143.759 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
454.969 |
382.897 |
303.018 |
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
307.908 |
278.797 |
244.964 |
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
Proposed Final Dividend |
87.000 |
87.000 |
58.000 |
|
|
Tax on Dividend |
14.786 |
14.786 |
9.185 |
|
|
Transfer to General Reserve |
250.000 |
250.000 |
200.000 |
|
|
Transfer to Debtors
Contingency Reserve |
2.000 |
2.000 |
2.000 |
|
|
Balance
Carried to the B/S |
409.091 |
307.908 |
278.797 |
|
|
|
|
|
|
|
|
EARNINGS
IN FOREIGN CURRENCY |
|
|
|
|
|
Commission |
|
|
|
|
|
Export on F.O.B. Basis |
|
|
7.105 |
|
|
Insurance |
|
|
7.411 |
|
|
TOTAL
EARNINGS |
331.685 |
250.027 |
14.516 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Trading Goods |
NA |
1952.618 |
1363.138 |
|
|
TOTAL
IMPORTS |
NA |
1952.618 |
1363.138 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
78.44 |
66.02 |
52.24 |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.12.2013 |
31.12.2012 |
31.12.2011 |
|
Current Maturities of Long term debt |
38.067 |
38.067 |
0.000 |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net cash flows from (used in) operations |
333.560 |
357.915 |
259.634 |
KEY
RATIOS
|
PARTICULARS |
|
31.12.2013 |
31.12.2012 |
31.12.2011 |
|
Return on Total Assets (PBT/Total Assets} |
(%) |
NA |
NA |
29.66 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
NA |
NA |
0.44 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.25 |
0.14 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.03 |
2.08 |
2.38 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particular |
31.12.2011 |
31.12.2012 |
31.12.2013 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Share Capital |
58.000 |
58.000 |
58.000 |
|
Reserves & Surplus |
961.135 |
1242.246 |
1595.430 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
1019.135 |
1300.246 |
1653.430 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
133.233 |
312.088 |
|
Short term borrowings |
2.837 |
13.878 |
65.906 |
|
Current maturities of
long-term debts |
0.000 |
38.067 |
38.067 |
|
Total
borrowings |
2.837 |
185.178 |
416.061 |
|
Debt/Equity
ratio |
0.003 |
0.142 |
0.252 |
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) |
Yes |
|
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 one year |
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 |
OPERATIONS (AS ON 31.12.2013)
Year 2013 has not been a good year for the economy in general and was full of violent exchange fluctuations creating huge impact for any importation based company. The company did well. Sales have increased by 26.7%. Also despite exchange loss of 25.800 Million, Profit before Tax also increase by 19 % to Rs. 674.000 Million. They also successfully commissioned Baroda plant to produce Wire Baskets. Plant is running as per their expectation and will stabilize well around April 2014
INDEX
OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
10371301 |
05/01/2015 * |
1,661,300,000.00 |
THE HONGKONG AND SHANGHAI BANKING CORPORATION LTD. |
11TH FLOOR,
BUILDING NO.3, NESCO IT PARK,, WESTER |
C41987678 |
* Date of charge modification
FIXED ASSETS
Tangible assets
- Land
- Buildings
- Plant and equipment
- Furniture and fixtures
- Vehicles
- Office equipment
Intangible assets
- Computer software
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 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.65.93 |
|
UK Pound |
1 |
Rs.102.75 |
|
Euro |
1 |
Rs.75.13 |
INFORMATION DETAILS
|
Information Gathered
by : |
PRT |
|
|
|
|
Analysis Done by
: |
HNA |
|
|
|
|
Report Prepared
by : |
KVT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
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 |
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 |
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.