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Business
information report
1. Summary Information
|
|
|
Country |
India |
|
Company Name |
ZYLOG SYSTEMS (INDIA) LIMITED |
Principal Name 1 |
Mr. Srinivasachari Rajagopal |
|
Status |
Moderate |
Principal Name 2 |
Mr. Parthasarathy Srikanth |
|
|
|
Registration # |
18-058451 |
|
Street Address |
155, Thiruvalluvar Salai, Kumaran Nagar, Sholinganallur,
Chennai-600119, Tamil Nadu, India |
||
|
Established Date |
28.12.2005 |
SIC Code |
-- |
|
Telephone# |
91-44-39157019 |
Business Style 1 |
Software Developer |
|
Fax # |
91-44-39157009 |
Business Style 2 |
-- |
|
Homepage |
Product Name 1 |
-- |
|
|
# of employees |
-- |
Product Name 2 |
-- |
|
Paid up capital |
Rs.
1,000,000/- |
Product Name 3 |
-- |
|
Shareholders |
Bodies corporate- 100% |
Banking |
|
|
Public Limited Corp. |
Yes |
Business Period |
Union Bank of
India |
|
IPO |
No |
International Ins. |
- |
|
Public |
No |
Rating |
B (30) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
CEO |
|
Holding Company |
India |
Zylog Systems Limited |
-- |
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2010 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
630,127,000 |
Current Liabilities |
48,444,000 |
|
Inventories |
0 |
Long-term Liabilities |
648,546,000 |
|
Fixed Assets |
146,967,000 |
Other Liabilities |
2,998,000 |
|
Deferred Assets |
0 |
Total Liabilities |
699,988,000 |
|
Invest& other Assets |
243,083,000 |
Retained Earnings |
5,189,000 |
|
|
|
Net Worth |
320,189,000 |
|
Total Assets |
1,020,177,000 |
Total Liab. & Equity |
1,020,177,000 |
|
Total Assets (Previous Year) |
152,373,000 |
|
|
|
P/L Statement as of |
31.03.2010 |
(Unit: Indian Rs.) |
|
|
Sales |
116,335,000 |
Net Profit |
3,993,000 |
|
Sales(Previous yr) |
12,498,000 |
Net Profit(Prev.yr) |
815,000 |
MIRA
INFORM REPORT
|
Report Date : |
25.08.2011 |
IDENTIFICATION DETAILS
|
Name : |
ZYLOG SYSTEMS (INDIA) LIMITED |
|
|
|
|
Registered
Office : |
155, Thiruvalluvar Salai, Kumaran Nagar, Sholinganallur,
Chennai-600119, Tamil Nadu |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2010 |
|
|
|
|
Date of
Incorporation : |
28.12.2005 |
|
|
|
|
Com. Reg. No.: |
18-058451 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 1.000 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U72200TN2005PLC058451 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
CHEZ03109B |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACZ2529C |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company. |
|
|
|
|
Line of Business
: |
Software Development and Consulting |
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 1200000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow But correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having moderate track. Trade
relations are reported as fair. Business is active. Payments are reported to
be slow but correct. The company can be considered for small to mediocre 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 : |
155, Thiruvalluvar Salai, Kumaran Nagar, Sholinganallur,
Chennai-600119, Tamil Nadu, India |
|
Tel. No.: |
91-44-39157019 |
|
Fax No.: |
91-44-39157009 |
|
E-Mail : |
|
|
|
|
|
Corporate Office: |
M T Rajen’s Properties, Second Floor, No.73/40, Bazullah Road, T.
Nagar, Chennai-600017, Tamil Nadu, India |
|
Tel. No.: |
91-44-3915-3886 |
|
Fax No.: |
91-44-395-7009 |
DIRECTORS
AS ON 30.09.2010
|
Name : |
Mr. Srinivasachari Rajagopal |
|
Designation : |
Director |
|
Address : |
Varenya' 1043,
10th Main Road, Judicial Officers Layout, GKVK Post,
Banglore-560065, India |
|
Date of Appointment : |
19.01.2009 |
|
DIN No : |
00022609 |
|
|
|
|
Name : |
Mr. Parthasarathy Srikanth |
|
Designation : |
Director |
|
Address : |
18/A Raja Mannar Street, T. Nagar, Chennai, 600017, Tamil Nadu, India |
|
Date of Appointment : |
28.12.2005 |
|
DIN No : |
00238506 |
|
|
|
|
Name : |
Mr. Sudarshan Venkatraman |
|
Designation : |
Director |
|
Address : |
385 Pierson Ave, Edison- 08837 , USA |
|
Date of Appointment : |
28.12.2005 |
|
DIN No : |
01110967 |
|
|
|
|
Name : |
Mr. Srinivasan Ramachandran |
|
Designation : |
Director |
|
Address : |
51-2C, Ward 122,
Hamdan Court, First Avenue, Ashok Nagar, Chennai, 600083, Tamil Nadu, India |
|
Date of Appointment : |
14.02.2006 |
|
DIN No : |
01128943 |
|
|
|
|
Name : |
Mr. Ramanujam Sesharathnam |
|
Designation : |
Director |
|
Address : |
13516 Mallard Watch
Way, Clifton, Clifton-20124, USA |
|
Date of Appointment : |
28.12.2005 |
|
DIN No : |
01245926 |
|
|
|
|
Name : |
Mr. Vasanthakuma R Ayyavu Palanichamy |
|
Designation : |
Nominee Director |
|
Address : |
310A, 12TH
Ward (New), Opposite To Bus Stand, Thevaram (P.O), Theni- 625530, |
|
Date of Appointment : |
29.01.2010 |
|
DIN No : |
02069470 |
|
|
|
|
Name : |
Mr. Srihari Somayaji Padmanabhan |
|
Designation : |
Director |
|
Address : |
Gokulam No 64
NNO 54 , 7TH Avenue, Ashok Nagar, Chennai-600083, Tamil Nadu,
India |
|
Date of Appointment : |
19.01.2009 |
|
DIN No : |
02481583 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2010
|
Names of Shareholders |
No. of Shares |
|
Zylog Systems Limited, India |
99994 |
|
Sudarshan Venkatraman |
1 |
|
Ramanujam Sesharathnam |
1 |
|
Parthasarathy Srikanth |
1 |
|
V Visheanathan |
1 |
|
P suresh |
1 |
|
M V Ganesan |
1 |
|
Total |
100000 |
AS ON 07.02.2011
|
Names of Allottee |
No. of Shares |
|
Zylog Systems Limited |
31400000 |
AS ON 30.09.2010
|
Category |
Percentage |
|
Bodies corporate |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Software Development and Consulting |
||||
|
|
|
||||
|
Products : |
|
GENERAL INFORMATION
|
Bankers : |
·
Union Bank of India Limited, Industrial Finance Branch,
Riaz Garden, 12/13, Kodamakkam High Road, Nungambakkam, Chennai-600034, Tamil
Nadu, India ·
Andhra Bank, 48/39, Wavoo Mansion, Rajaji Salai,
Chennai-600001, Tamil Nadu, India |
|||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
L U Krishnan and Company Chartered Accountant |
|
Address : |
No 31, West Club Road, Shenoy Nagar, Chennai-600030, Tamil Nadu, India |
|
|
|
|
Memberships : |
|
|
|
|
|
Holding Company : |
Zylog Systems Limited CIN No.: L30006TN1995PLC031651 |
|
|
|
|
Fellow Subsidiaries : |
·
Viswa Vikas Services Limited ·
Zylog Systems (Canada) Limited ·
Zylog Systems Asia Pacific Pte Limited |
CAPITAL STRUCTURE
AS ON 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
32000000 |
Equity Shares |
Rs.10/- each |
Rs. 320.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
100000 |
Equity Shares |
Rs.10/- each |
Rs. 1.000
Million |
|
|
|
|
|
Share Application Money:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
31400000 |
Share Application Money |
Rs. 10/-
each |
Rs. 314.000
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 |
1.000 |
1.000 |
1.000 |
|
|
2] Share Application Money |
314.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
5.189 |
1.196 |
0.381 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
320.189 |
2.196 |
1.381 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
610.150 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
38.396 |
144.131 |
2.917 |
|
|
TOTAL BORROWING |
648.546 |
144.131 |
2.917 |
|
|
DEFERRED TAX LIABILITIES |
2.998 |
0.002 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
971.733 |
146.329 |
4.298 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
146.967 |
0.041 |
0.065 |
|
|
Capital work-in-progress |
243.066 |
87.732 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.001 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
0.000
|
0.000 |
0.000 |
|
|
Sundry Debtors |
76.428
|
8.738 |
4.674 |
|
|
Cash & Bank Balances |
19.769
|
21.052 |
0.134 |
|
|
Other Current Assets |
23.109
|
0.000 |
0.000 |
|
|
Loans & Advances |
510.821
|
34.770 |
1.572 |
|
Total
Current Assets |
630.127
|
64.560 |
6.380 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
43.581
|
3.173 |
0.816 |
|
|
Other Current Liabilities |
3.630
|
2.328 |
1.307 |
|
|
Provisions |
1.233
|
0.543 |
0.089 |
|
Total
Current Liabilities |
48.444
|
6.044 |
2.212 |
|
|
Net Current Assets |
581.683
|
58.516 |
4.168 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.017 |
0.040 |
0.064 |
|
|
|
|
|
|
|
|
TOTAL |
971.733 |
146.329 |
4.298 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
|
|
|
|
|
Software Development Services and Products |
116.335 |
12.498 |
13.074 |
|
|
|
Forex Gain |
16.712 |
0.000 |
0.000 |
|
|
|
Interest Income |
0.673 |
1.637 |
0.000 |
|
|
|
TOTAL (A) |
133.720 |
14.135 |
13.074 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Software Development Expenses |
77.197 |
9.682 |
10.389 |
|
|
|
Administrative Expenses |
24.411 |
3.184 |
1.411 |
|
|
|
Selling and Marketing Expenses |
14.347 |
0.079 |
0.959 |
|
|
|
Prior Period Adjustments |
0.001 |
(0.240) |
0.034 |
|
|
|
TOTAL (B) |
115.956 |
12.705 |
12.793 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
17.764 |
1.430 |
0.281 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
17.764 |
1.430 |
0.281 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
9.542 |
0.023 |
0.038 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
8.222 |
1.407 |
0.243 |
|
|
|
|
|
|
|
|
|
Less |
TAX (I) |
4.229 |
0.592 |
0.137 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-I) (J) |
3.993 |
0.815 |
0.106 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
1.196 |
0.381 |
0.275 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
5.189 |
1.196 |
0.381 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
39.92 |
8.15 |
1.06 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
2.99
|
5.77 |
0.81 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
7.07
|
11.26 |
1.86 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.06
|
2.18 |
3.77 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.03
|
0.64 |
0.18 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
2.19
|
68.39 |
3.71 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
13.01
|
10.68 |
2.88 |
LOCAL AGENCY FURTHER INFORMATION
Note : Registered Office
of the company has been shifted from No 71 and 73, 1st Main Road,
Cit Nagar, Nandanam, Chennai, Tamil Nadu, India to the present address w.e.f.30.04.2008
FINANCIAL
PERFORMANCE
Fiscal year 2009-10
was a volatile year across industries and across geographical regions. The
world was impacted by a series of far-reaching events that made it difficult
for the global economy. Despite the challenging circumstances the company
delivered growth both in sales and earnings.
Total Income was
Rs.133.720 millions (Rs. 14.136 millions PY). This has been achieved without
sacrificing on quality, client satisfaction and work culture. The Operating
profit was Rs.17.765 millions (Rs. 1.191 millions PY).
During the year,
the company earned an income of Rs.133.720 millions, against Rs.14.136 millions
in the previous year. The Company earned Profit after tax of Rs.3.992 millions
as compared to Rs. 0.815 million in the previous year. Shareholders’ equity (Net
Worth) increased to Rs.297.079 millions from Rs.2.196 millions in the previous
year.
BUSINESS
OPERATIONS
The Main Venture
of the Company are into creating infrastructure to provide wireless broadband
services to customers. The primary business operation is to install towers and
its related nodes (PAP and SAP) at strategic locations. This enables customers
to get connected to the broadband facility in their respective areas. The
Company has entered into various contracts in the areas of WIFI business, while
benefits from such contracts will accrue in the future years, their progress is
periodically reviewed.
The company is
also involved in Software Development and Solutions to the problem of the
clients. The company is confident of getting good connections for ITES / BPO
operations in USA, UK and Asia Pacific Regions which will enhance the growth of
the company.
FORM 8
|
Corporate
identity number of the company |
U72200TN2005PLC058451 |
|
Name of the
company |
ZYLOG SYSTEMS
(INDIA) LIMITED. |
|
Address of the
registered office or of the principal place of business in |
155, Thiruvalluvar Salai, Kumaran Nagar, Sholinganallur, Chennai-600119, Tamil Nadu, India |
|
This form is for |
Creation of
charge |
|
Type of charge |
Book debts Others |
|
Particular of
charge holder |
Andhra Bank, 48/39, Wavoo Mansion, Rajaji Salai, Chennai-600001, Tamil Nadu, India |
|
Nature of
instrument creating charge |
Composite
agreement. International
foreign exchange master agreement. General form of
guarantee. |
|
Date of
instrument Creating the charge |
23.03.2011 |
|
Amount secured by
the charge |
Rs. 750.000
millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of interest Over Draft @ PLR rate - 9.50 % plus/minus spread of
3.50% presently @13.00% p.a. Term Loan : @ PLR
rate - 9.50% plus or minus spread of 3.75%
presently @ 13.25% p.a. with monthly rests Terms of repayment Term Loan - Door to
door repayment period of 6 1/2 years and repayable in 24 ballooning quarterly
repayment with 6 month initial holiday. Margin Term Loan - 36%. SOD against Book
debts - 30%. on receivables not older than 90 days FLC/ILC - 10%.
Cash Margin |
|
Short particulars
of the property charged (Including location of the property) |
Pari passu first
charge on the Fixed Assets and Current Assets of Zylog Systems (India)
Limited for aggregate credit limit of Rs.750.000 millions. |
FIXED ASSETS
·
Plant and Machinery
·
Computer Equipment
·
Electrical Networking
·
Furniture Fittings
·
Office Equipment
·
Vehicles
·
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,
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. 45.76 |
|
|
1 |
Rs. 75.57 |
|
Euro |
1 |
Rs. 65.97 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
4 |
|
--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 |
|
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.