1. Summary Information
|
|
|
Country |
|
|
Company Name |
JUPITER SOLAR
POWER LIMITED |
Principal Name 1 |
Mr. Rajkumar Garodia |
|
Status |
Recently Commenced |
Principal Name 2 |
Mr. Alok Garodia |
|
|
|
Registration # |
111250 |
|
Street Address |
30, |
||
|
Established Date |
29.07.2006 |
SIC Code |
-- |
|
Telephone# |
91-33-22121410/14061407/1408/1409 |
Business Style 1 |
Manufacturer of Solar Power Products. |
|
Fax # |
91-33-40159037/22121404 |
Business Style 2 |
- |
|
Homepage |
-- |
Product Name 1 |
- |
|
# of employees |
-- |
Product Name 2 |
- |
|
Paid up capital |
Rs.
34,490,000 |
Product Name 3 |
- |
|
Shareholders |
Bodies corporate (100.00%) |
Banking |
State Bank of |
|
Public Limited Corp. |
- |
Business Period |
4 years |
|
IPO |
- |
International Ins. |
- |
|
Public |
Yes |
Rating |
Ca(20) |
|
Related
Company |
|||
|
Relation
- Holding Company |
Country
|
Company
Name |
Jupiter International Limited |
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2010 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
74,336,000 |
Current Liabilities |
121,905,000 |
|
Inventories |
222,253,000 |
Long-term Liabilities |
1191,765,000 |
|
Fixed Assets |
1352,055,000 |
Other Liabilities |
- |
|
Deferred Assets |
-- |
Total Liabilities |
1313,670,000 |
|
Invest& other Assets |
313,000 |
Retained Earnings |
300,797,000 |
|
|
|
Net Worth |
335,287,000 |
|
Total Assets |
1648,957,000 |
Total Liab. & Equity |
1648,957,000 |
|
Total Assets (Previous Year) |
1093,228,000 |
|
|
|
P/L Statement as of |
31.03.2010 |
(Unit: Indian Rs.) |
|
|
Sales |
20,102,000 |
Net Profit |
(5,113,000) |
|
Sales(Previous yr) |
- |
Net Profit(Prev.yr) |
- |
MIRA
INFORM REPORT
|
Report Date : |
22.08.2011 |
IDENTIFICATION DETAILS
|
Name : |
JUPITER SOLAR POWER LIMITED (w.e.f. 11.12.2007 ) |
|
|
|
|
Formerly Known
As : |
JUPITER NIVS TECHNOLOGIES LIMITED (w.e.f. 27.11.2007) JUPITER NIVS TECHNOLOGIES PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
30, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2010 |
|
|
|
|
Date of
Incorporation : |
29.07.2006 |
|
|
|
|
Com. Reg. No.: |
21-111250 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.34.490 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U52392WB2006PTC111250 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
CALJ03701F |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCJ7197H |
|
|
|
|
Legal Form : |
A Closely held Public Limited Liability Company. |
|
|
|
|
Line of Business
: |
Manufacturer of Solar Power Products. |
|
|
|
|
No of Employees: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca (20) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Recently Commenced Business |
|
|
|
|
Payment Behaviour : |
Unknown |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Though the company was incorporated in 2006, the company has started its
commercial activities recently in March, 2010. Trade relation are reported as
fair. Business is active. Payment terms are unknown. 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 – 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 : |
30, |
|
Tel. No.: |
91-33-22121410 / 14061407 / 1408/1409 |
|
Fax No.: |
91-33-40159037/22121404 |
|
E-Mail : |
|
|
|
|
|
Factory:: |
Village Katna, Post office Baddi, Tehsil Nalagath, Salan-173 205,
Himachal Pradesh |
|
|
|
|
Corporate Office: |
Unnayanam, 20-A, |
DIRECTORS
As on 30.09.2010
|
Name : |
Mr. Rajkumar Garodia |
|
Designation : |
Director |
|
Address : |
52/1, |
|
Date of Birth/Age : |
09.01.1940 |
|
Date of Appointment : |
29.07.2006 |
|
CIN No.: |
00552210 |
|
|
|
|
Name : |
Mr. Alok Garodia |
|
Designation : |
Director |
|
Address : |
52/1, |
|
Date of Birth/Age : |
25.05.1965 |
|
Date of Appointment : |
29.07.2006 |
|
CIN No.: |
00081848 |
|
|
|
|
Name : |
Mrs. Sushila Devi Garodia |
|
Designation : |
Director |
|
Address : |
20/A, |
|
Date of Birth/Age : |
24.04.1946 |
|
Date of Appointment : |
26.10.2007 |
|
CIN No.: |
|
|
|
|
|
Name : |
Mr. Veeraraghavan
Ramabhadran |
|
Designation : |
Director |
|
Address : |
House No.101, 1st Floor, Sector-12, Panchkula, Chennai-134
112, |
|
Date of Birth/Age : |
02.10.1950 |
|
Date of Appointment : |
01.08.2008 |
|
CIN No.: |
00552709 |
|
|
|
|
Name : |
Mr. Wolfgang Schmutz |
|
Designation : |
Director |
|
Address : |
Finkenweg 25, 78658, Zimmern O, Zimmern-78658 |
|
Date of Birth/Age : |
27.04.1954 |
|
Date of Appointment : |
01.08.2008 |
|
CIN No.: |
02701341 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2010
|
Names of Shareholders |
|
No. of Shares |
|
Jupiter International Limited - |
|
3021994 |
|
Dayanidhi Management Private Limited – |
|
137000 |
|
Stuti Tie- Up Private Limited - |
|
290000 |
|
Jupiter International Limited With Alok |
|
1 |
|
Jupiter International Limited With Raj |
|
1 |
|
Jupiter International Limited With
Sush |
|
1 |
|
Jupiter International Limited With Anju |
|
1 |
|
Jupiter International Limited With Sang |
|
1 |
|
Jupiter International Limited With Lali |
|
1 |
|
Total |
|
3449000 |
Equity Share Breakup (Percentage of Total Equity)
As on 30.09.2010
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Bodies
corporate |
|
100.00 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Solar Power Products. |
||||
|
|
|
||||
|
Products: |
Solar Power Products.
|
PRODUCTION STATUS:
Unit: MW
Licensed Capacity:
NA
Installed
Capacity: 32.20
Actual Production:
3.43
GENERAL INFORMATION
|
No. of Employees: |
Not Available |
||||||||||||||||||||||||||||||||||||
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|
||||||||||||||||||||||||||||||||||||
|
Bankers : |
|
||||||||||||||||||||||||||||||||||||
|
|
Rs
in Millions |
||||||||||||||||||||||||||||||||||||
|
Facilities : |
|
|
Banking
Relations : |
- |
|
|
|
|
Auditors : |
|
|
Name : |
Chhaparia and Associates Chartered Accountants |
|
Address : |
|
|
Tel. No.: |
91-33-22824241/6444 |
|
Fax No.: |
91-33-22824566 |
|
Website: |
|
|
PAN No.: |
AADFC1689C |
|
|
|
|
Holding Company : |
Jupiter International Limited |
|
|
|
|
Associate |
|
CAPITAL STRUCTURE
As on 30.09.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
6000000 |
Equity Shares |
Rs.10/- Each |
Rs.60.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
3449000 |
Equity Shares |
Rs.10/- Each |
Rs.34.490
Millions |
After 30.09.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
6000000 |
Equity Shares |
Rs.10/- Each |
Rs.60.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
40255000 |
Equity Shares |
Rs.10/- Each |
Rs.40.255
Millions |
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 |
34.490 |
34.490 |
15.900 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
300.797 |
305.910 |
138.600 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
335.287 |
340.400 |
154.500 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
989.269 |
652.091 |
0.000 |
|
|
2] Unsecured Loans |
202.496 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
1191.765 |
652.091 |
0.000 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
1527.052 |
992.491 |
154.500 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
1352.055 |
3.081 |
0.000 |
|
|
Capital work-in-progress |
0.000 |
1035.887 |
90.100 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
222.253 |
0.000 |
0.000 |
|
|
Sundry Debtors |
0.395 |
0.000 |
0.000 |
|
|
Cash & Bank Balances |
22.374
|
36.166
|
2.185 |
|
|
Other Current Assets |
1.341
|
0.103
|
0.000 |
|
|
Loans & Advances |
50.226
|
17.599
|
62.212 |
|
Total
Current Assets |
296.589
|
53.868
|
64.397 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
106.873
|
91.924
|
0.000 |
|
|
Other Current Liabilities |
14.835
|
8.616
|
1.076 |
|
|
Provisions |
0.197
|
0.197
|
0.000 |
|
Total
Current Liabilities |
121.905
|
100.737
|
1.076 |
|
|
Net Current Assets |
174.684
|
(46.869)
|
63.321 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.313 |
0.392 |
1.079 |
|
|
|
|
|
|
|
|
TOTAL |
1527.052 |
992.491 |
154.500 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
20.102 |
|
|
|
|
Other Income |
|
2.012 |
|
|
|
|
TOTAL (A) |
|
22.114 |
|
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of goods sold |
|
11.891 |
|
|
|
|
Employees' Remuneration and Benefits |
|
1.159 |
|
|
|
|
Manufacturing, Administrative and Other Expenses |
|
2.815 |
|
|
|
|
Preliminary Expenses Written off |
|
0.078 |
|
|
|
|
TOTAL (B) |
|
15.943 |
|
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
|
6.171 |
NA |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES (D) |
|
5.597 |
|
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
|
0.574 |
|
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
|
5.687 |
|
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
|
(5.113) |
|
|
|
|
|
|
|
|
|
|
Less |
TAX (I) |
|
0.000 |
|
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-I) (J) |
|
(5.113) |
|
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
|
27.509 |
0.000 |
|
|
TOTAL EARNINGS |
|
27.509 |
27.509 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
|
239.913 |
0.000 |
|
|
|
Stores & Spares |
|
14.021 |
0.00 |
|
|
|
Capital Goods |
|
161.127 |
748.019 |
|
|
TOTAL IMPORTS |
|
415.061 |
748.019 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
|
|
|
|
|
|
Basic |
|
(1.48) |
NA |
|
|
|
Diluted |
|
(1.48) |
NA |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
(23.12)
|
NA |
NA |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
(25.44)
|
NA |
NA |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(0.31)
|
NA |
NA |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.02)
|
NA |
NA |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
3.92
|
2.21
|
0.01 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.43
|
0.53
|
59.85 |
LOCAL AGENCY FURTHER INFORMATION
Operations:
During the year under review the trial run production has been initiated
at the factory since October'2009 and it was declared to the Excise Department
at Baddi, Himachal Pradesh that the production has been initiated since
8.10.2009 in order to procure the permission from the Excise Department to
facilitate the Company to send samples for analysis and business promotion
purposes, however after proper ramp-up and stabilization of the production
process the commercial production has been initiated since 15.3.2010.
Contingent
Liability:
1.
Estimated amount of contracts to be executed on
Capital Account and not provided for Rs.280.021 Millions
2.
Counter Guarantees given in favour of the Company's
Bankers for guarantees given by them Rs.19.373 Millions and Letter of Credit
Open Rs.234.064 Millions
3.
Bond executed in favour of President of India for
import of capital goods under EPCG scheme at concessional rate of duty
Rs.219.685 Millions.
Form 8
|
This form is for |
Modification of
charge |
|
Charge
identification number of the modified |
10119112 |
|
Corporate
identity number of the company |
U52392WB2006PTC111250 |
|
Name of the
company |
JUPITER SOLAR POWER LIMITED |
|
Address of the
registered office or of the principal place of business in |
30, |
|
Type of charge |
Book Debts Movable Property Floating Charge All other Current
and Movable Fixed Assets |
|
Particular of
charge holder |
Corporation Bank, Dharamtolla Branch, 8, Lenin Sarani, Kolkata – 700013,
West |
|
Nature of
description of the instrument creating or modifying the charge |
Common Deed of
Hypothecation of Movable/Assets/Debts. Guarantee
Agreement. |
|
Date of
instrument Creating the charge |
20.06.2011 |
|
Amount secured by
the charge |
Rs 339.00
Millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest Cash Credit: Base
Rate+4.10% i.e. 14.00 p.a. at present. Term Loan: 14.55%
p.a. SBAR + 0.55% (i.e. 14.00% at present). Term Loan: 14.25%
p.a. i.e. 0.25% above SBAR at present. Terms of
Repayment Working Capital
Limit is repayable on Demand. The existing Term
Loans of Rs.90.900 Millions and Rs.18.100 Millions are repayable as per
existing terms of Sanction. Margin As stipulated by
the Bank for the respective assets from time to time. Cash Credit : Stocks : 25%, Domestic Book
Debts (cover upto 3 months) : 25%, Advance to
Suppliers (cover upto 3 months) : 40% and LC & BG : 10% Extent and Operation
of the charge Term Loan: Pari
passu first charge on the moveable fixed assets of the Company to the extent
those are related to the projects for which the Bank finance were made and
pari passu second charge on current assets of the Company both present and
future. Working Capital:
Pari passu first charge on the current assets of the Company and pari passu
2nd charge on the moveable fixed assets of the Company to the extent those
are related to the projects for which the Bank finance were made. Others The Borrower
shall not do or allow anything which may prejudice the security and shall
comply with the terms and conditions of the Agreements. The overall limit
is also secured by corporate guarantee of M/s. Jupiter International Limited. All other terms
and conditions continue to remain as before in full force and effect. |
|
Short particulars
of the property charged |
i) Term Loan:
Pari passu first charge on the moveable fixed assets of the Company to the
extent those are related to the projects for which the Bank finance were made
and pari passu second charge on
current assets of the Company, both present and future. ii) Working
Capital: Pari passu first charge on the current assets of the Company and
pari passu 2nd charge on the moveable fixed assets of the Company to the
extent those are related to the projects for which the Bank finance were made. |
|
Date of latest
modification prior to the present modification |
|
|
Particulars of
the present modification |
By this modification,
the overall limit is enhanced from Rs.250.000 Millions to Rs.339.000 Millions
as stated under and charge on hypothecation current assets and movable fixed
assets of the Company extended to secure the enhanced overall limit together
with interest, costs and charges thereon: Term Loan :
Rs.90.9 Millions Cash Credit :
Rs.55.000 Millions Term Loan
(Review) : Rs.18.100 Millions Import/Inland LC
cum BG : Rs.60.000 Millions Forward Forward Purchase
Contract : Rs.55.000 Millions. |
Fixed Assets:
·
·
·
Plant and Machinery
·
Electrical Fittings
·
Furniture and Fixtures
·
Computers
·
Office Equipments
·
Vehicle
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.45.61 |
|
|
1 |
Rs.75.32 |
|
Euro |
1 |
Rs.65.68 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
2 |
|
--PROFITABILIRY |
1~10 |
- |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
2 |
|
--RESERVES |
1~10 |
2 |
|
--CREDIT LINES |
1~10 |
2 |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
20 |
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.