MIRA
INFORM REPORT
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Report Date : |
21.12.2011 |
IDENTIFICATION DETAILS
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Name : |
ETA ENGINEERING PRIVATE LIMITED |
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Registered Office : |
No. 5, |
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Country : |
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Financials (as on) : |
31.03.2010 |
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Date of Incorporation : |
31.10.1994 |
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Com. Reg. No.: |
18-29091 |
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Capital
Investment / Paid-up Capital : |
Rs.185.511 Millions |
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CIN No.: [Company
Identification No.] |
U28920TN1994PTC029091 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
CHEE02038B |
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PAN No.: [Permanent
Account No.] |
AAACE0808P |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer, Exporter and Importer of Electric Pumps, Air
Conditioners etc. |
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No. of Employees
: |
Not Available |
RATING & COMMENTS
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MIRA’s Rating : |
Ba (48) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 7000000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
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Comments : |
Subject is a part of ETA Ascon, 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 – September 30, 2011
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Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
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A1 |
A1 |
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Risk Category |
ECGC Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
LOCATIONS
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Registered Office : |
No. 5, |
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Tel No.: |
Not Available |
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Fax No.: |
Not Available |
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E-Mail : |
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Corporate Office : |
No. 63, New No. 71, |
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Tel. No.: |
91-44-43429786 |
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Fax No.: |
91-44-43429999 |
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E-Mail : |
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Factory1: |
No. 627, Chinganazath House, Near Union Bank of India, K.P. Vallon
Road, Kochi-682020, Kerala, India |
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Tel No.: |
91-484-2311638 |
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Fax No.: |
91-484-2311638 |
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Factory 2: |
K-6, |
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Branches : |
Located At:
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DIRECTORS
As on 30.09.2011
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Name : |
Mr. Abdul Rahman Buhari Abdul Qadir |
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Designation : |
Director |
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Address : |
8, |
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Date of Birth/Age : |
14.03.1965 |
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Date of Appointment : |
17.03.2011 |
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DIN No.: |
00312115 |
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Name : |
Mr. Mohiuddin Mir Mahmood |
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Designation : |
Director |
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Address : |
Flat B-4, Mallika Apartments, |
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Date of Birth/Age : |
18.03.1938 |
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Date of Appointment : |
31.10.1994 |
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DIN No.: |
02482102 |
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Name : |
Mr. Ashok Kumar Agarwal |
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Designation : |
Director |
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Address : |
X-404, |
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Date of Birth/Age : |
17.12.1949 |
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Date of Appointment : |
31.10.1994 |
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DIN No.: |
02344390 |
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Name : |
Mr. Abdul Cader Junaid Yaseen Mohamed |
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Designation : |
Director |
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Address : |
28 – A, |
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Date of Birth/Age : |
21.05.1965 |
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Qualification : |
MBA |
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Date of Appointment : |
03.12.1996 |
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DIN No.: |
00966039 |
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Name : |
Mr. Buhari Abdul Khader Khalid |
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Designation : |
Director |
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Address : |
28 – A, |
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Date of Birth/Age : |
12.11.1957 |
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Date of Appointment : |
30.08.2004 |
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DIN No.: |
01274334 |
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Name : |
Mr. Abdul Khader Anwar Basha |
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Designation : |
Additional Director |
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Address : |
43, |
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Date of Birth/Age : |
05.09.1948 |
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Date of Appointment : |
28.10.2010 |
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DIN No.: |
02344362 |
KEY EXECUTIVES
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Name : |
Mr. M Kalpna Gupta |
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Designation : |
Secretary |
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Address : |
AG 100, 7th |
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Date of Birth/Age : |
24.11.1985 |
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Date of Appointment : |
01.08.2011 |
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PAN No.: |
APJPK2264C |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2011
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Names of Shareholders |
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No. of Shares |
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S M Salauddin |
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500000 |
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Emirates Trading Agency LLC, United Arab Emirates |
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2000000 |
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Abdul Cader Junaid Yaseen Mohamed |
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371000 |
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Eta General Private Limited, |
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100 |
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Arif B Rahman |
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1000 |
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Electro Mechanical Technical Associated Limited, |
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13990364 |
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Mir Mahmood Mohiuddin |
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630280 |
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Ashok Kumar Agarwal |
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504304 |
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Anwar Basha |
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252052 |
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Hameed S Salahuddin |
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1000 |
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Ahmed S Salahuddin |
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1000 |
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Kitchen House Appliances Private Limited, |
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300000 |
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Total |
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18551100 |
As on 30.09.2011
Equity Share Break up (Percentage of Total Equity)
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Category |
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Percentage of Holding |
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Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
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86.20 |
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Bodies
corporate |
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1.62 |
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Directors
or relatives of directors |
|
12.18 |
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Total |
|
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer, Exporter and Importer of Electric Pumps, Air
Conditioners etc. |
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Products : |
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GENERAL INFORMATION
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Bankers : |
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Facilities : |
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Financial Institution: |
GE Capital Services |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
R. Bupathy and Company Chartered Accountant |
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Address : |
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Tel. No.: |
91-44-28278300/28277590/28242302 |
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Fax No.: |
91-44-28242302 |
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E-Mail : |
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PAN No.: |
AAAFR8792G |
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Holding Company: |
Electromechanical Technical Associate Limited |
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Subsidiaries : |
Alpha Duct Private Limited (U29292MH2005PYC156305) |
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Related parties : |
Alpha Star Trading Private Limited Alpha Duct private limited Ascon Travel private Limited Debbas India Private Limited ETA Car Division ETA Construction Private Limited ETA General Private Limited ETA Star Air Lines ETA Star Appliances Private Limited Alpha Kool Therm Private Limited Kitchen House Appliances Private Limited ETA Star Construction Private Limited ETA star Marshal ETA Travel Hitech Manpower Consultants Private Limited Prime Cold Stores Private limited Prime Technologies Star Health and Allied Insurance Company Limited ( Star Hr and Trading Services Private Limited Star Utility Services Private Limited EMCO – Home Tech Services Private limited
ETA India Limited Frieght Star Private Limited Bhuhari Holding Debbas Prims Solutions Private limited East Coast Terminal Operation and Port Services Limited Emirates Ducts, LLC Emirates Shopping Agency Private Limited ETA Dubai ETA LLC ETA Logistics India Private Limited ETA Melco ETA Star Aviation ETA Star Elevator Private Limited ETA Star holding Limited ETA Star holding Developers Limited ETA Star Ready Mix ETA Techno park ETA, Mepax Engineers Private Limited United Shippers WAFA Logistics Private Limited |
CAPITAL STRUCTURE
As on 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
166000000 |
Equity Shares |
Rs.10/- each |
Rs.1660.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
18551100 |
Equity Shares |
Rs.10/- each |
Rs.185.511
Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
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SHAREHOLDERS FUNDS |
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1] Share Capital |
185.511 |
185.510 |
181.800 |
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2] Share Application Money |
877.500 |
852.500 |
830.000 |
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3] Reserves & Surplus |
684.828 |
280.530 |
288.863 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
1747.839 |
1318.540 |
1300.663 |
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LOAN FUNDS |
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1] Secured Loans |
2596.478 |
1879.147 |
636.908 |
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2] Unsecured Loans |
84.647 |
45.000 |
61.889 |
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TOTAL BORROWING |
2681.125 |
1924.147 |
698.797 |
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DEFERRED TAX LIABILITIES |
116.439 |
59.685 |
5.750 |
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DEFERRED GOVERNMENT GRANT |
39.008 |
41.338 |
0.000 |
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TOTAL |
4584.411 |
3343.710 |
2005.210 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
2176.500 |
1962.919 |
930.524 |
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Capital work-in-progress |
349.399 |
85.716 |
111.140 |
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INVESTMENT |
119.689 |
81.631 |
43.800 |
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DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
1331.386
|
1450.519
|
827.124 |
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Sundry Debtors |
1609.632
|
964.296
|
1208.920 |
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Cash & Bank Balances |
1211.756
|
1041.120
|
160.577 |
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Other Current Assets |
0.000
|
0.000
|
0.000 |
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Loans & Advances |
1924.512
|
1124.450
|
877.011 |
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Total
Current Assets |
6077.285
|
4580.385
|
3073.632 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
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Sundry Creditors |
|
2344.733
|
533.683 |
|
|
|
|
352.400
|
1194.889 |
|
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Provisions |
1746.813
|
669.808
|
425.314 |
|
Total
Current Liabilities |
4138.462
|
3366.941
|
2153.886 |
|
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Net Current Assets |
1938.823
|
1213.444
|
919.746 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
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|
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TOTAL |
4584.411 |
3343.710 |
2005.210 |
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PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
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SALES |
|
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Income |
|
5946.900 |
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Other Income |
|
0.007 |
|
|
|
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TOTAL |
9563.100 |
5946.907 |
3599.700 |
|
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|
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|
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Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
8662.200 |
5790.807 |
3387.000 |
|
|
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Advertising Expenses |
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Financial Expenses |
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|
|
|
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TOTAL |
8662.200 |
5790.807 (Including
Financial Charges) |
3387.000 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
900.900 |
|
212.700 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
229.900 |
|
18.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND
AMORTISATION (C-D) (E) |
671.000 |
156.100 |
194.700 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
119.300 |
98.000 |
32.800 |
|
|
|
|
|
|
|
|
|
|
PROFIT /
(LOSS) BEFORE TAX |
551.700 |
58.100 |
161.900 |
|
|
|
|
|
|
|
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Less |
TAX |
147.400 |
66.400 |
(70.700) |
|
|
|
|
|
|
|
|
|
|
PROFIT /
(LOSS) AFTER TAX |
404.300 |
(8.300) |
104.500 |
|
|
|
|
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|
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Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
279.100 |
287.400 |
182.900 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
683.400 |
279.100 |
287.400 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
94.409 |
48.119 |
11.384 |
|
|
|
Commission Earnings |
1.072 |
0.165 |
0.910 |
|
|
TOTAL EARNINGS |
95.481 |
48.284 |
12.294 |
|
|
|
|
|
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IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
585.515 |
271.779 |
308.402 |
|
|
|
Capital Goods |
1.042 |
81.371 |
2.945 |
|
|
TOTAL IMPORTS |
586.557 |
353.150 |
311.347 |
|
|
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|
|
|
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|
|
|
Earnings /
(Loss) Per Share (Rs.) |
21.79 |
(0.45) |
1.03 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
4.23
|
(0.14)
|
2.90 |
|
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|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
NA
|
0.98
|
NA |
|
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|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
6.68
|
0.89
|
4.04 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.32
|
0.04
|
0.12 |
|
|
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|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
3.90
|
4.01
|
2.19 |
|
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|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.47
|
1.36
|
1.43 |
LOCAL AGENCY FURTHER INFORMATION
OPERATION:
Company top line has grown by 62% during the year 2009-10 and also the
company shown remarkable net profit for the year Rs.404.300 Millions when compared
with last year loss of Rs.8.300 Millions after adjusting loss from its ingistic
division. The Engineering Division turnover of company has grown by 61% to
Rs.9130.000 Millions (Previous year Rs.5680.000 Millions) and the net profit
has grown by 40% to Rs.400.000 Millions (Previous year Rs.8.300 Millions)
Company has entered into an agreement with institutional buyers for
hiring off the ingistic division. The process is at the verge of completion and
schedule to be completed by June 2011.
During the year company has booked projects worth of Rs.4760.000
Millions and from April 2010 till August 2010 Company has added further
Rs.2760.000 Millions worth of projects. Major projects includes Frontier Life
Line, ETA Techno Park, LMW Unipres in
Chennai Region Orion Mall Toyota Kirloskar Wipro, Moto Drain Depot in
Bangalore, Pragai Maidan Noida, Nilkanth Toch Park, Anortam Developers,
Vamouia, Macrotech, L and T in Mumbai Region and ICICI Ban, Park Hayat Hotel in
Hydrabad.
FORM8:
|
Corporate identity number of the company |
U28920TN1994PTC029091 |
|
Name of the company |
ETA ENGINEERING PRIVATE LIMITED |
|
Address of the registered office or of the principal place of business in |
No. 5, E-mail : Chennai-@eta-engg.com
|
|
This form is for |
Modification of charge |
|
Charge identification (ID) number of the charge to be modified |
90295028 |
|
Type of charge |
Immovable property Book debts Others (Stocks and corporate guarantee of ETA LLC Dubai.) |
|
Particular of charge holder |
The Jammu and Kashmir Bank Limited, No 52, E-Mail : parrys@jkb.com |
|
Nature of instrument creating charge |
Deed of Hypothecation stocks and
book debts |
|
Date of instrument Creating the charge |
26.09.2011 |
|
Amount secured by the charge |
Rs.2660.000 Millions |
|
Brief of the principal terms an conditions and extent and operation of
the charge |
Rate of interest As per the sanction letter Terms of repayment As per the instruments executed and as determined by the banker from
time to time Margin As per the instruments executed and as determined by the banker from
time to time Extent and operation of the charge As per the instruments executed Others Nature of facility
Limit (Rs in Millions) Cash Credit 450.000 BG/LC 2210.000 |
|
Short particulars of the property or asset(s) charged (including
complete address and location of the property) |
Factory land and building located at South Phase III Main Road, Industrial
Estate, Ambattur, Chennai Under S No.438 PT/453,Plot No.10/10A(SP),
Industrial plot of land and building located at A wing, Udyog Bhavan,
Sonawale lane, Goregaon East, Mumbai Factory land and building located at Land and building situated at Plot no K-6, Sipcot Industrial Area,
Phase II, Land and Building bearing no:B-36 Industrial Estate measuring 35.20
Mts*17.556mts at Deysandra Bangalore. |
|
Date of instrument modifying the charge |
12.03.2011 |
|
Particulars of the present modification |
Increase in the credit facilities and creation of fresh mortgage |
FIXED ASSETS:
·
Land
·
Building
·
Air Conditioner
·
Electrical Fittings
·
Office Equipments
·
Plant and Machinery
·
Furniture and Fittings
·
Vehicles
·
Computer
·
Trade Mark
AS PER WEBSITE DETAILS:
PROFILE:
Incorporated in 1994, Subject undertakes HVAC projects, Electro-mechanical
projects and services (EMPS) and Mechanical, Electrical and Plumbing (MEP) work
including BMS, Internal Electrification and Sub-station Works meeting
International Standards. Subject has two manufacturing plants with capacity
to manufacture a wide range of Ducted Split, Chillers and Air Handling Units. Subject is a
subsidiary of Electromechanical Technical Associates Ltd,
ETA ASCON,
Dubai is
a multi-faceted group having a turnover in excess of USD Six Billion with
diverse areas of expertise in activities such as Builders and Constructions, Engineering –
Electromechanical and Elevator Works,
Advanced Fire Fighting, Shipping and
Trading, High Voltage transmission, Desalination, Powder coating, Retail
and Leisure Business, Tours and Travels, Facilities Management, Automobiles,
Environment, Manufacturing, etc.,
Subject is a Company registered in
Subject has state-of-art Manufacturing Facilities at
Sriperumbudur, 40 Kms outside Chennai city and
The Company
manufactures and markets full range of
Air-conditioning products including Air-Cooled and Water cooled Scroll Chillers, Air Handling
Units, Fan Coil Units, Ducted Splits, Floor Mounted Packaged, Unitary type Self
Contained Packaged Air conditioners, DC- Inverter and Digital VRF (Variable Refrigerant Flow),
Cassettes, High-wall Splits and Window
Air conditioners. These are ideally suitable for installation in applications
such as Bank, Hospitals, Office premises, Shopping / Commercial
Complexes, Restaurants, Retails outlets etc.
The Company has been
consistently driven by belief in Global Quality Standard as a norm.
They thrive for raising the Quality
Standard in all our Operations, be it Projects, Products, Services and Manufacturing.
Subject is the only Indian Manufacturer of Air
Handling Units to achieve prestigious Eurovent Certification. It is also one of the 6 Companies Globally to
achieve UL Accreditation for it’s AHU’s. It produces Cooling and
Heating Coils which are ARI
Certified. The entire
Subject has large number of Dealers as Channel Partners
for offering ETA Range of Products with Cooling Solutions to Customers.
Company has a well
Structured after Sales - Service and Spares management for its Dealers and
Customers.
Subject is rated as the biggest turnkey Electro - Mechanical
Contractor in the country and offers electro mechanical services to meet the
needs of demanding clients. Subject has supported a wide array of projects that
include Software Campuses / Parks, Offices, Business establishments, Hotels,
Hospitals, Schools, Commercial Complexes, Industries, Marriage Halls, etc.
They have participated in projects for
large Air Conditioning Systems involving imported equipment manufactured to
international standards. They ensure
much superior quality of equipment and workmanship with advanced engineering
skills. They have full-fledged team of
qualified engineers and technical staff in the air-conditioning and electrical
divisions to carry out large turnkey projects. Subject has consistently provided clients with timely
and high value service, competitively priced without sacrificing quality. The
Entire Company is certified for ISO 9001: 2008 by LRQA.
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.53.03 |
|
|
1 |
Rs.82.34 |
|
Euro |
1 |
Rs.69.00 |
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 |
|
--PROFITABILIRY |
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 |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
48 |
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.