1. Summary Information
|
|
|
Country |
|
|
Company Name |
JBM MA
AUTOMOTIVE PRIVATE LIMITED |
Principal Name 1 |
Mr. Surendra Kumar Arya |
|
Status |
Moderate |
Principal Name 2 |
Mr. Nishant Arya |
|
|
|
Registration # |
55-171360 |
|
Street Address |
601, Hemkunt
Chambers, 89l, |
||
|
Established Date |
12.12.2007 |
SIC Code |
-- |
|
Telephone# |
91-11-26427104 |
Business Style 1 |
Manufacturer and Seller of Automobiles Parts |
|
Fax # |
91-11-26427100 |
Business Style 2 |
-- |
|
Homepage |
Product Name 1 |
Press And Welded parts of Four Wheeler |
|
|
# of employees |
-- |
Product Name 2 |
|
|
Paid up capital |
Rs.608,992,000 |
Product Name 3 |
|
|
Shareholders |
Foreign holdings 50% Bodies corporate 50% |
Banking |
Axis Bank
Limited Canara Bank |
|
Public Limited Corp. |
-- |
Business Period |
4 Years |
|
IPO |
-- |
International Ins. |
- |
|
Public |
-- |
Rating |
B
(27) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
|
|
Group Companies |
India |
Arcelor Neel Tailored Blank Private Limited |
|
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2010 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
635,668,000 |
Current Liabilities |
681,585,000 |
|
Inventories |
132,944,000 |
Long-term Liabilities |
982,795,000 |
|
Fixed Assets |
1,797,471,000 |
Other Liabilities |
397,680,000 |
|
Deferred Assets |
22,997,000 |
Total Liabilities |
2,062,060,000 |
|
Invest& other Assets |
28,027,000 |
Retained Earnings |
-- |
|
|
|
Net Worth |
555,047,000 |
|
Total Assets |
2,617,107,000 |
Total Liab. & Equity |
2,617,107,000 |
|
Total Assets (Previous Year) |
2,941,204,000 |
|
|
|
P/L Statement as of |
31.03.2007 |
(Unit: Indian Rs.) |
|
|
Sales |
2,224,728,000 |
Net Profit |
(50,808,000) |
|
Sales(Previous yr) |
146,492,000 |
Net Profit(Prev.yr) |
(3,137,000) |
MIRA
INFORM REPORT
|
Report Date : |
25.02.2011 |
IDENTIFICATION DETAILS
|
Name : |
JBM MA AUTOMOTIVE PRIVATE LIMITED |
|
|
|
|
Registered Office : |
601, Hemkunt Chambers, 89l, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.03.2010 |
|
|
|
|
Date of Incorporation : |
12.12.2007 |
|
|
|
|
Com. Reg. No.: |
55-171360 |
|
|
|
|
CIN No.: [Company
Identification No.] |
U29220DL2007PTC171360 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business : |
Manufacturer and Seller of Automobiles Parts. |
RATING & COMMENTS
|
MIRA’s Rating : |
B (27) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 2220188 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a joint venture between JBM Auto Limited, India And
Magnetto Automotive S.P.A., It is a company having moderate track. There appears some accumulated losses
recorded by the company. However trade relations are reported as fair.
Business is active. Payments are reported to be slow. 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 : |
601, Hemkunt Chambers, 89l, |
|
Tel. No.: |
91-11-26427104 |
|
Fax No.: |
91-11-26427100 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Factory : |
C-1, MIDC, Chakan Industrial Area, Chakan, Distt. Pune – 410501, |
|
Tel. No.: |
91-213-5320093 |
|
Fax No.: |
91-213-5664031 |
DIRECTORS
As on 15.06.2010
|
Name : |
Mr. Surendra Kumar Arya |
|
Designation : |
Director |
|
Address : |
Neelanchal No. 7, Bandh Roadl, Chandanhulla, Mehrauli, New
Delhi-110030, |
|
Date of Birth/Age : |
10.11.1957 |
|
Date of Appointment : |
12.12.2007 |
|
|
|
|
Name : |
Mr. Nishant Arya |
|
Designation : |
Director |
|
Address : |
Neelanchal No. 7, Bandh Roadl, Chandanhulla, Mehrauli, New
Delhi-110030, |
|
Date of Birth/Age : |
01.11.1986 |
|
Date of Appointment : |
12.12.2007 |
|
|
|
|
Name : |
Mr. Anand Swaroop |
|
Designation : |
Director |
|
Address : |
C-5A/14, 2nd Floor Janak Puri, New Delhi-110058, |
|
Date of Birth/Age : |
07.10.1960 |
|
Date of Appointment : |
12.03.2008 |
|
|
|
|
Name : |
Mr. Maurtzio Raviola |
|
Designation : |
Director |
|
Address : |
Strada, Scaravglio 17, Rivoli-10098 |
|
Date of Birth/Age : |
18.02.1963 |
|
Date of Appointment : |
12.03.2008 |
|
|
|
|
Name : |
Mr. Ezio Azzolini |
|
Designation : |
Director |
|
Address : |
Via Albssandro, Manzoni No. 2l, Sangano-10090 |
|
Date of Birth/Age : |
03.03.1948 |
|
Date of Appointment : |
12.03.2008 |
|
|
|
|
Name : |
Mr. Alberto Prono |
|
Designation : |
Director |
|
Address : |
Vialb D Azeglio Massimo No. 20, San Giusto Cnavese-10090 |
|
Date of Birth/Age : |
03.002.1957 |
|
Date of Appointment : |
12.03.2008 |
|
|
|
|
|
|
|
Name : |
Mr. Lamorte Giovanni |
|
Designation : |
Director |
|
Address : |
Via Grange 72, Fiano To |
|
Date of Birth/Age : |
14.09.1963 |
|
Date of Appointment : |
14.07.2008 |
|
|
|
|
Name : |
Mr. Bharat Bhushan Gupta |
|
Designation : |
Alternate Director |
|
Address : |
L-19/17, Ground Floor, DLF Phase –II Gurgaon-122002, |
|
Date of Birth/Age : |
16.10.1955 |
|
Date of Appointment : |
14.05.2009 |
KEY EXECUTIVE
|
Name : |
Mr. Suryakant Agrawal |
|
Designation : |
Secretary |
|
Address : |
O-11 Vishal Garden, Chakan, Pune-410501, Maharashtra, India |
|
Date of Birth/Age : |
02.02.1960 |
|
Date of Appointment : |
08.09.2009 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 15.06.2010
|
Names of Shareholders |
|
No. of Shares |
|
JBM Auto Limited, India |
|
30449600 |
|
MA SPA, Italy |
|
30449600 |
|
Total |
|
60899200 |
Equity Share Breakup (Percentage of Total Equity)
As on 15.06.2010
|
Category |
|
Percentage of
Holding |
|
Foreign holdings (Foreign institutional investor(s), Foreign
companie(s) Foreign financial institution(s), Non-resident Indian(s) or
Overseas corporate bodies or others) |
|
50.00 |
|
Bodies corporate (not mentioned above) |
|
50.00 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Seller of Automobiles Parts. |
|
|
|
|
Products : |
Item Code : 8708 Product Description : Press And Welded parts of Four Wheeler |
PRODUCTION STATUS as on 31.03.2010
|
Particulars |
|
|
Installed
Capacity |
Actual
Production |
|
Press And Welded parts of Four Wheeler |
|
|
6300MT |
3093736 (Nos.) |
|
|
|
|
|
|
GENERAL INFORMATION
|
Bankers : |
|
|
Facilities : |
@ Secured by first pari passu charge on all fixed assets both movable and
immovable and second charge on all current assets. @@ Secured by hypothecation of pari passu interse between banks by way
of first charge on current assets and by way of second charge on entire fixed
assets. |
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Banking
Relations : |
-- |
|||||||||||||||
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Auditors : |
|
|||||||||||||||
|
Name : |
Shah Khandelwal Jain and Associates Chartered Accountant |
|||||||||||||||
|
Address : |
730, Sadashiv Peth, Pune-411030, Maharashtra, India |
|||||||||||||||
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Group Companies : |
|
CAPITAL STRUCTURE
As on 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
61000000 |
Equity Shares |
Rs. 10/- each |
Rs.610.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
60899200 |
Equity Shares |
Rs. 10/- each |
Rs.608.992 Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2010 |
31.03.2009 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
608.992 |
492.766 |
|
|
2] Share Application Money |
|
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
|
0.000 |
0.000 |
|
|
4] (Accumulated Losses) |
|
(53.945) |
[3.137] |
|
|
NETWORTH |
|
555.047 |
489.629 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
982.795 |
630.988 |
|
|
2] Unsecured Loans |
|
0.000 |
0.000 |
|
|
TOTAL BORROWING |
|
982.795 |
630.988 |
|
|
DEFERRED TAX LIABILITIES |
|
397.680 |
560.487 |
|
|
|
|
|
|
|
|
TOTAL |
|
1935.522 |
1681.104 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
1797.471 |
1498.921 |
|
|
Capital work-in-progress |
|
28.027 |
90.354 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
|
22.997 |
0.496 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
132.944 |
790.746 |
|
|
Sundry Debtors |
|
124.460 |
160.352 |
|
|
Cash & Bank Balances |
|
82.411 |
29.176 |
|
|
Other Current Assets |
|
0.000 |
0.000 |
|
|
Loans & Advances |
|
428.797 |
371.159 |
|
Total
Current Assets |
|
768.612 |
1351.433 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
499.942 |
702.418 |
|
|
Current Liabilities |
|
181.643 |
557.682 |
|
|
Provisions |
|
0.000 |
0.000 |
|
Total
Current Liabilities |
|
681.585 |
1260.100 |
|
|
Net Current Assets |
|
87.027 |
91.333 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
1935.522 |
1681.104 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
|
|
2224.728 |
146.492 |
|
|
|
Other Income |
|
7.514 |
0.000 |
|
|
|
TOTAL (A) |
|
2232.242 |
146.492 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Raw Materials Consumed |
|
1135.526 |
90.435 |
|
|
|
Increase/(Decrease) in Stock |
|
(14.900) |
(11.605) |
|
|
|
Purchases of Trading Goods |
|
745.790 |
0.000 |
|
|
|
Employees Remuneration and benefits |
|
51.444 |
7.879 |
|
|
|
Manufacturing, Administrative Expenses |
|
175.765 |
25.119 |
|
|
|
TOTAL (B) |
|
2093.625 |
111.828 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
|
138.617 |
34.664 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
|
93.068 |
18.038 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
|
45.549 |
16.626 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
|
118.857 |
19.650 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
|
(73.308) |
(3.024) |
|
|
|
|
|
|
|
|
|
Less |
TAX (I) |
|
(22.500) |
0.113 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-I) (J) |
|
(50.808) |
(3.137) |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
|
(50.808) |
(3.137) |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
|
27.803 |
5.977 |
|
|
|
Capital Goods |
|
64.896 |
913.885 |
|
|
|
Others |
|
31.206 |
95.241 |
|
|
TOTAL IMPORTS |
|
123.905 |
1015.103 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
|
(0.97) |
(0.41) |
|
KEY RATIOS
|
PARTICULARS |
|
|
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
|
(2.27) |
(2.14) |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
|
(3.29) |
(2.06) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
|
(2.85) |
(0.10) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
|
(0.13) |
(0.01) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
|
2.99 |
3.86 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
|
1.12 |
1.07 |
LOCAL AGENCY FURTHER INFORMATION
Operational Review:
The company is a joint venture company, promoted by JBM Auto Limited, an Indian Company and MA S.P.A., and Italian company for manufacturing and selling of pressed welded parts or sub system of four wheeler OEM’s including skin panels, body and under body, Benjo Beam, Cross car Beam and Bumpers at Pune. Having started commercial production from Jan 2009, with two customer Tata Motors and Fiat India, now have added two new customers namely Mahindra and Mahindra and Volkswagen. Both these customers have invested heavily in this region with extremely good plan of business growth in the coming years.
Bankers Charges
Report as per Registry
|
Corporate
identity number of the company |
U29220DL2007PTC171360 |
|
Name of the
company |
JBM MA AUTOMOTIVE PRIVATE LIMITED |
|
Address of the registered
office or of the principal place of
business in |
601, Hemkunt Chambers, 89l, |
|
This form is for |
Modification of
Charge |
|
Charge
identification number of the modified |
10110560 |
|
Type of charge |
Immovable Property Book Debts Movable Property |
|
Particular of
charge holder |
Axis Bank Limited, Statesman House, |
|
Nature of
instrument creating charge |
Memorandum of Entry
dated 22nd day of April, 2010 of Axis Bank on enhanced Working Capital Limits of Rs.70.000 Milions |
|
Date of
instrument Creating the charge |
22.04.2010 |
|
Amount secured by
the charge |
Rs.240.000
Millions |
|
Brief of the principal
terms an conditions and extent and operation of the charge |
Rate of Interest Cash Credit/ WCDL
- BPLR less 4.5% (BPLR at present
14.75%) Letter of Credit
(Inland/Import) - Commission - 0.50% p.a. Bank Guarantee
(Inland/Foreign) - Commission - PBG - 0.75% p.a., FBG-1.25% p.a. Terms of
Repayment 1.CC/WCDL- On
demand 2. LC - Inland
LC-Maximum usance up to 90 days Import LC-Maximum usance up to
180 days 3. BG - Maximum
up to 36 months inclusive of claim period Margin 1. CC/WCDL- Raw-20%,
Stock on process-20%, Finished Goods and Pkg. Material-20%, Stroes and
Spares-20%, Book Debts - 20%.(Book Debts cover period 90
days) 2. LC- Nil. 3. BG- NIl ( 100%
cash margin in case of disputed liabilities). Extent and Operation
of the charge First pari passu
charge on the current assets of the company and second pari passu charge on
machinery and other movable fixed assets of the company both present and
future and Second Pari Passu charge by way of Equitable Mortgage on Land adm
62,127.60 Sq. mtrs of Property bearing Plot No. C-1/2 in MIDC Chakan
Industrial Area situated at Village Mahalunge, Taluka Khed, District Pune. |
|
Short particulars
of the property charged |
AXIS BANK for its
Working Capital facility of Rs. 170.000 Millions secured by: -First Pari Passu
charge on the the current assets of the company, both present and future. - Second Pari
Passu Charge on the Plant and Machinery (Both Present and Future) of the
company. - Second Pari
Passu charge by way of Equitable Mortgage on Land adm 62,127.60 Sq. mtrs of Property
bearing Plot No. C-1/2 in MIDC Chakan Industrial Area situated at Village
Mahalunge, Taluka Khed, District Pune. |
|
Date of
instrument modifying the charge |
10.10.2009 |
|
Particulars of the
present modification |
The Working Capital Limits of
Rs.170.000 millions enhanced to
Rs.240.000 millions (enhanced limites of Rs.70.000 millions) is now additionally secured by extension
of equitable mortgage of land admeasuring 62,127.60 Sqr. Mtrs of Property
bearing Plot No. C-1/2 in MIDC Chakan Industrial Area situated at Village
Mahalunge, Taluka Khed, District Pune
by way of second pari passu charge on the enhanced limits of Rs.70.000
millions. |
Fixed Assets:
- Land
- Building
- Plant And Machinery
- Furniture and Fixtures
- Office Equipment
- Computers
- Pallets and Trolleys
- Electrical Installation
- Motor Vehicle
- 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.45.37 |
|
|
1 |
Rs.73.54 |
|
Euro |
1 |
Rs.62.39 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
2 |
|
--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 |
|
27 |
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 |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.