MIRA INFORM REPORT
|
Report Date : |
14.04.2011 |
Note : Registered Office
of the company has been shifted from Plot No. 1355 A, Road No. 1, Jubilee Hills, Hyderabad – 500033, Andhra
Pradesh, India to the present address w.e.f. 07.04.2008
IDENTIFICATION DETAILS
|
Name : |
ANANTH
TECHNOLOGIES LIMITED |
|
|
|
|
Formally Known As : |
ANANTH
TECHNOLOGIES PRIVATE LIMITED (w.e.f. 12.06.1995) ANANTH
MICROTRONICS PRIVATE LIMITED |
|
|
|
|
Registered Office : |
Plot No. 39, Hitec
City, Phase-II, Madhapur, Hyderabad – 500081, Andhra Pradesh |
|
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|
Country : |
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|
|
|
Financials (as on) : |
31.03.2010 |
|
|
|
|
Date of Incorporation : |
17.08.1992 |
|
|
|
|
Com. Reg. No.: |
01-014675 |
|
|
|
|
CIN No.: [Company
Identification No.] |
U72200AP1992PLC014675 |
|
|
|
|
Legal Form : |
Closely Held
Public Limited Liability Company |
|
|
|
|
Line of Business : |
The company is
engaged in information technology services and fabrication and assembling of High-tech
electronic items based on customers requirement. Design and Development of
Digital Systems and Information Technology Services. |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (49) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 4400000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Regular |
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|
Litigation : |
Clear |
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|
Comments : |
Subject is an established company having satisfactory track record.
Financial position of the company is satisfactory. Trade relations are fair.
Business is active. Payments are reported to be regular and as per
commitments. 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.
ECGC Country Risk Classification List – April 1, 2010
|
Country Name |
Previous Rating (31.12.2009) |
Current Rating (01.04.2010) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
LOCATIONS
|
Registered Office / Head Office : |
Plot No. 39,
Hitec City, Phase-II, Madhapur, Hyderabad – 500081, Andhra Pradesh, India |
|
Tel. No.: |
91-40-66156789 / 66156615 |
|
Fax No.: |
91-40-66156531 |
|
E-Mail : |
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|
Website : |
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|
|
|
|
Branches : |
INDIA RESEARCH AND DEVELOPMANT CENTERS Plot No. 593,
9th A-Main 14th Cross, ISRO Layout, J.P. Nagar Post, Bangalore 560 078,
Karnataka, India No. 356/12, N.
S. C. Bose Road, Naktala, Kolkata-700 047, India Sai Gopasubba,
BNRA 85°, Bhagavathi Nagar, Kowdiar
P.O, Thiruvananthapuram– 695 041, India
|
DIRECTORS
AS ON 30.09.2010
|
Name : |
Dr. Subba Rao Pavuluri |
|
Designation : |
Chairman |
|
Address : |
Plot No. 1355 A,
Road No.45, Jubilee Hills, Hyderabad – 500033, Andhra Pradesh, India |
|
Date of Birth/Age : |
05.08.1952 |
|
Date of Appointment : |
17.08.1992 |
|
DIN No : |
00053701 |
|
|
|
|
Name : |
Mr. Anantha Laxmi Pavuluri |
|
Designation : |
Director |
|
Address : |
Plot No. 1355 A,
Road No.45, Jubilee Hills, Hyderabad – 500033, Andhra Pradesh, India |
|
Date of Birth/Age : |
22.04.1957 |
|
Date of Appointment : |
17.08.1992 |
|
DIN No : |
00053734 |
|
|
|
|
Name : |
Mr. Kiswaravara Prasada Reddy |
|
Designation : |
Director |
|
Address : |
Plot No. 1355 A,
Road No.45, Jubilee Hills, Hyderabad – 500033, Andhra Pradesh, India |
|
Date of Appointment : |
01.06.1993 |
|
Date of Ceasing : |
13.11.2009 |
|
DIN No : |
00196148 |
|
|
|
|
Name : |
Mr. N. Narayanan |
|
Designation : |
Director |
|
Address : |
5, Pal Street, Karaikudi, Tamil Nadu, India |
|
Date of Appointment : |
01.12.1994 |
|
DIN No : |
00406915 |
|
|
|
|
Name : |
Mr. Raju Visweswara Dandu |
|
Designation : |
Director |
|
Address : |
201-204, 2nd Floor, Brindavan Apartments, Trimulgerry,
Secunderabad-500015, Andhra Pradesh, India |
|
Date of Birth/Age : |
22.11.1943 |
|
Date of Appointment : |
23.01.2002 |
|
DIN No : |
00330835 |
|
|
|
|
Name : |
Mr. Vijayabalan Shashi Kumar |
|
Designation : |
Director |
|
Address : |
102-289/110/202, Shanti Nagar, Hyderabad-500028, Andhra Pradesh, India |
|
Date of Appointment : |
27.02.2010 |
|
DIN No : |
00022385 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2010
|
Names of Shareholders |
No. of Shares |
|
Mr. Subba Rao
Pavuluri |
2890050 |
|
Ms. P. Anantha
Lakshmi |
600000 |
|
Mr. T. Anjenayulu |
64660 |
|
Mr. T. Hanumantha
Rao |
46210 |
|
Mr. P. Aravind |
6660 |
|
Mr. P. Madana
Mohana Rao |
98830 |
|
Mr. K. Shantamma |
5000 |
|
Mr. A. Muruga
Laxman |
11000 |
|
Ms. D. Revathi |
10500 |
|
Ms. L. Muthu
Lakshmi |
10500 |
|
Mr. K. Bala
Subramaniyan |
296840 |
|
Ms. N. Lakshmi |
7000 |
|
Mr. N. Narayanan |
24160 |
|
Mr. P.
Muralidharan |
11000 |
|
Mr. R. M.
Yegappan |
11000 |
|
Mr. Y. Manonmani |
7000 |
|
Mr. R.
Venkatachalam |
25000 |
|
Mr. Srinivasarao
Jetty |
10000 |
|
Mr. K. R. Jayaraj |
10000 |
|
Zen Securities
Limited, India |
50000 |
|
Mr. Janice
Aloysius |
50000 |
AS ON 30.09.2010
|
Equity Share
Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
1.03 |
|
Bodies corporate |
|
1.14 |
|
Directors or relatives of directors |
|
85.00 |
|
Other top fifty shareholders |
|
12.83 |
|
|
Total
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
The company is
engaged in information technology services and fabrication and assembling of High-tech
electronic items based on customers requirement. Design and Development of
Digital Systems and Information Technology Services. |
|
|
|
|
Products : |
|
PRODUCTION STATUS (As On 31.03.2010)
|
Particulars |
Unit |
Licensed
Capacity |
Installed
Capacity |
Actual
Production |
|
SPU, OBCs, MIUs, DEELs And Other Electronic / Digital Systems /
Components |
Nos. |
NA |
NA |
503 |
|
Wind Power |
Units |
NA |
NA |
3169224 |
GENERAL INFORMATION
|
No. of Employees : |
750
(Approximately) |
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Bankers : |
State Bank of India, Industrial Finance Branch, Rajbhavan Road,
Somajiguda, Hyderabad-500082, Andhra Pradesh, India |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Facilities : |
Notes : Amount due for repayments within one year- Rs. 48.976 millions
(Previous years Rs. 55.309 millions)
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|
|
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|
Banking Relations
: |
-- |
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|
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|
Auditors : |
|
|
Name : |
Sarathy and Balu Chartered Accountant |
|
Address : |
# 12, Master Sai
Apartments, Somajiguda, Hyderabad – 500082, Andhra Pradesh, India |
|
Tel. No.: |
91-40-23312442/23396336 |
|
Fax No.: |
91-40-23322463 |
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E-Mail : |
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|
Subsidiaries : |
CIN No :
U74140AP1991PLC012308
CIN No : U72200AP2008PTC057647 |
CAPITAL STRUCTURE
AS ON 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
6000000 |
Equity Shares |
Rs. 10/- each |
Rs. 60.000 millions |
|
|
|
|
|
Issued:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4812410 |
Equity Shares |
Rs. 10/- each |
Rs. 48.124
millions |
|
|
|
|
|
Subscribed & Paid-up Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4393460 |
Equity Shares |
Rs. 10/- each |
Rs. 43.935
millions |
|
|
|
|
|
Notes : of the above 249960 Equity Shares of Rs.10/-
each were allotted as fully paid up by way of Bonus Shares by capitalization of
profits and 1890000 Equity Shares of Rs. 10/- each were allotted as fully paid up
for consideration other than cash in earlier years.
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
43.935 |
43.935 |
43.935 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.348 |
|
|
3] Reserves & Surplus |
1064.093 |
1035.739 |
1018.542 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
1108.028 |
1079.674 |
1062.825 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
574.493 |
613.350 |
397.346 |
|
|
2] Unsecured Loans |
297.393 |
188.675 |
139.883 |
|
|
TOTAL BORROWING |
871.886 |
802.025 |
537.229 |
|
|
DEFERRED TAX LIABILITIES |
60.372 |
48.085 |
25.723 |
|
|
|
|
|
|
|
|
TOTAL |
2040.286 |
1929.784 |
1625.777 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
1478.459 |
1487.522 |
1430.133 |
|
|
Capital work-in-progress |
272.548 |
201.758 |
111.586 |
|
|
|
|
|
|
|
|
INVESTMENT |
19.107 |
19.107 |
18.900 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
265.821
|
215.645 |
86.050 |
|
|
Sundry Debtors |
122.171
|
123.693 |
155.605 |
|
|
Cash & Bank Balances |
34.802
|
59.345 |
25.974 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
84.538
|
59.316 |
39.861 |
|
Total
Current Assets |
507.332
|
457.999 |
307.490 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
109.201
|
99.370 |
51.253 |
|
|
Other Current Liabilities |
118.628
|
129.996 |
183.662 |
|
|
Provisions |
11.472
|
11.672 |
7.710 |
|
Total
Current Liabilities |
239.301
|
241.038 |
242.625 |
|
|
Net Current Assets |
268.031
|
216.961 |
64.865 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
2.141 |
4.436 |
0.293 |
|
|
|
|
|
|
|
|
TOTAL |
2040.286 |
1929.784 |
1625.777 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
331.156 |
326.422 |
334.553 |
|
|
|
Other Income |
15.412 |
6.279 |
2.601 |
|
|
|
TOTAL (A) |
346.568 |
332.701 |
337.154 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Materials Consumed and Other Direct Expenses |
80.046 |
57.261 |
203.421 |
|
|
|
Employees Remuneration |
88.658 |
108.640 |
22.630 |
|
|
|
Increase/(Decrease) in Finished Goods |
0.000 |
0.000 |
(48.219) |
|
|
|
Administrative, Selling and General Expenses |
29.339 |
33.358 |
28.556 |
|
|
|
TOTAL (B) |
198.043 |
199.259 |
206.388 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
148.525 |
133.442 |
130.766 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
71.213 |
59.162 |
35.229 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
77.312 |
74.280 |
95.537 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
18.931 |
20.233 |
9.606 |
|
|
|
|
|
|
|
|
|
Less |
PRIOR YEAR TAX
ADJUSTMENTS |
0.108 |
0.063 |
0.233 |
|
|
|
AMORTISATION of
DEFERRED REVENUE EXPENSES |
0.000 |
0.000 |
7.285 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
58.273 |
53.984 |
78.413 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
22.209 |
29.077 |
27.484 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
36.064 |
24.907 |
50.929 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
96.808 |
81.611 |
41.092 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
4.000 |
2.000 |
2.700 |
|
|
|
Dividend |
6.590 |
6.590 |
6.590 |
|
|
|
Tax on Dividend |
1.120 |
1.120 |
1.120 |
|
|
BALANCE CARRIED
TO THE B/S |
123.162 |
96.808 |
81.611 |
|
|
|
|
|
|
|
|
|
|
EXPORT VALUE |
9.912 |
10.299 |
3.352 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Stores & Spares |
31.999 |
67.008 |
82.087 |
|
|
|
Capital Goods |
0.000 |
19.873 |
5.004 |
|
|
TOTAL IMPORTS |
31.999 |
86.881 |
87.091 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
8.00 |
6.00 |
12.00 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
10.41
|
7.49 |
15.11 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
17.60
|
16.54 |
23.44 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.93
|
2.77 |
4.51 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.05
|
0.05 |
0.07 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.06
|
1.01 |
0.76 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.12
|
1.90 |
1.27 |
LOCAL AGENCY FURTHER INFORMATION
BACKGROUND:
Dr. Subba Rao Pavuluri
is a post-graduate in Engineering and a Doctorate in Engineering with over 33
years of experience. He is the promoter Director of the Company and has been
its Chairman and Managing Director since inception. Prior to starting this
Company he was in service with National Remote Sensing Agency (NRSA),
Department of Space, Government of India at Hyderabad.
OPERATIONS
Despite the steep
increase in depreciation and interest expenditure, the company made profit
after tax of Rs. 36.064 millions as compared to Rs.24.907 millions in the
previous year.
The company
continued to receive valuable orders from ISRO, VSSC, RCI and ASL. The Order
book of the company for Information Studies jobs and Digital Systems is quite
satisfactory and the company is marching ahead and is poised for big growth in
the years to come.
FORM 8
|
Corporate
identity number of the company |
U72200AP1992PLC014675 |
|
Name of the
company |
ANANTH
TECHNOLOGIES LIMITED |
|
Address of the
registered office or of the principal place of business in |
Plot No. 39, Hitec City, Phase-II, Madhapur, Hyderabad – 500081,
Andhra Pradesh, India |
|
This form is for |
Creation of charge |
|
Type of charge |
Others Corporate Guarantee to M/s Gagan Aerospace Private Limited |
|
Particular of
charge holder |
State Bank of India, Industrial Finance Branch, Rajbhavan Road,
Somajiguda, Hyderabad-500082, Andhra Pradesh, India |
|
Nature of
instrument creating charge |
1.
letter regarding teh grant of individual limits within the overall limit-
form c.5 2.
deed of guarantee for overall limit- c.4 4.board
resolution 5.sanction
letter |
|
Date of
instrument Creating the charge |
05.07.2010 |
|
Amount secured by
the charge |
Rs. 320.000 millions |
|
Brief of the principal
terms an conditions and extent and operation of the charge |
Rate of interest B. G. charges at card rate Terms of
repayment NFB Limits Margin B. G. Margin -25% Extent and
operation of the charge Charge operated to the extent of B. G. Amount |
|
Short particulars
of the property charged (Including location of the property) |
Corporate
guarantee given as security to limits of Rs.320.000 millions availed by
M/s.Gagan Aerospace Private Limited. |
FIXED ASSETS
- Land
- Building
- Plant and Machinery
- Computers and Assessories
- Office Equipments
- Furniture and Fixtures
- Motor Vehicles
WEB SIDE DETAILS
PROFILE
Subject founded in 1992 and servicing Fortune 1000 clientele since, is a
global broad based Software and Hardware, Services and Solutions provider. On the
IT services front we support enterprises business processes and systems, with
innovative services, solutions and products. On the hardware front we
specialize in the design and development of highly sophisticated aerospace
subsystems and other embedded systems. Subject has been, AS 9100B and ISO
9001:2000 certified and is actively working towards CMMI Level 5 assessment.
Subject strength is its 750+ seasoned engineering professionals, working from
R&D centers across India and design centers across the globe. Subject
varied clientele include leaders in the areas of Aerospace, Mining, Pharma,
Higher Education, Public Sector, Manufacturing and Health care. Subject is the
technology partner with a single passion: dedicating its systems expertise, and
global resources to transform businesses.
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 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.44.48 |
|
|
1 |
Rs.72.36 |
|
Euro |
1 |
Rs.64.42 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--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 |
|
TOTAL |
|
49 |
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.