MIRA
INFORM REPORT
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Report Date : |
19.02.2011 |
Note:
The given address of the company has been
verified and validated by us.
IDENTIFICATION DETAILS
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Name : |
NTTF INDUSTRIES PRIVATE LIMITED |
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Registered Office : |
23/24, 2nd Phase, Peenya Industrial Area, |
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Country : |
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Financials (as on) : |
31.03.2009 |
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Date of Incorporation : |
06.01.1994 |
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Com. Reg. No.: |
015104 |
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CIN No.: [Company
Identification No.] |
U29221KA1994PTC015104 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer of Precision Press Tools, Injection moulds, auto
electrical items. |
RATING & COMMENTS
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MIRA’s Rating : |
B (27) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
USD 420000 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate track. There appears
to be some losses incurred 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
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Country Name |
Previous Rating (31.12.2009) |
Current Rating (01.04.2010) |
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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 |
INFORMATION PARTED BY
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Name : |
Mr. Shekharan |
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Designation : |
Finance Manager– Assistant |
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Date : |
17.02.2011 |
LOCATIONS
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Registered Office/Factory : |
23/24, 2nd Phase, Peenya Industrial Area, |
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Tel. No.: |
91-80-28394848 |
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Fax No.: |
91-80-28392428 |
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E-Mail : |
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Website : |
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Area : |
Approximately 5000 sq./ ft. [Owned] |
DIRECTORS
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Name : |
Mr. Namasivayam Reguraj |
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Designation : |
Managing Director |
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Address : |
No. 539, RMV II Stage, 2nd main, 3rd Block, |
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Date of Birth/Age : |
07.05.1942 |
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Date of Appointment : |
06.01.1994 |
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Name : |
Mr. Rangachary Rajagopalan |
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Designation : |
Director |
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Address : |
Sri paduka, #2405/A, 10th Main E Block, Rajaji Nagar II
Stage, |
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Date of Birth/Age : |
13.04.1948 |
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Date of Appointment : |
03.09.2003 |
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Name : |
Mr. Lakshmanan A. Senapathy |
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Designation : |
Director |
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Address : |
Sharanam No. 1/ |
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Date of Birth/Age : |
12.06.1931 |
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Date of Appointment : |
06.01.1994 |
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Name : |
Mr. Srinivasan Rangarajan |
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Designation : |
Director |
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Address : |
Dhanya No. 126, nandidurg Road, |
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Date of Birth/Age : |
10.09.1941 |
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Date of Appointment : |
06.01.1994 |
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Name : |
Mr. Narayanaswamy Venkataramani |
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Designation : |
Director |
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Address : |
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Date of Birth/Age : |
09.12.1939 |
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Date of Appointment : |
06.01.1994 |
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Name : |
Mr. Sarosh Jehangir Ghandy |
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Designation : |
Director |
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Address : |
Usthana Aparantha Enclave, |
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Date of Birth/Age : |
21.12.1937 |
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Date of Appointment : |
05.12.1994 |
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Name : |
Mr. R.K. Pitamber |
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Designation : |
Director |
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Address : |
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Date of Birth/Age : |
17.08.1931 |
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Date of Appointment : |
06.01.1994 |
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Name : |
Mr. N.A.Raman |
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Designation : |
Director |
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Address : |
No. 282/C, 38th Cross, 8th Block, Jayanagar, |
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Date of Birth/Age : |
23.09.1955 |
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Date of Appointment : |
30.09.1999 |
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Name : |
Mr. Ratindra K. Puri |
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Designation : |
Director |
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Address : |
No. A-195, New Friends Colony, |
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Date of Birth/Age : |
10.12.1945 |
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Date of Appointment : |
22.06.2005 |
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Name : |
Mr. P S Vaidyanarayan |
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Designation : |
Director |
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Address : |
265, 2nd Cross, Someswarapuram, Layout, Ulsoor, |
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Date of Birth/Age : |
16.03.1944 |
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Date of Appointment : |
01.01.2008 |
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Name : |
Mr. R Ramanujam |
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Designation : |
Chairman |
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Address : |
No.17, |
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Date of Birth/Age : |
29.07.1936 |
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Date of Appointment : |
06.01.1194 |
KEY EXECUTIVES
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Name : |
Mr. P S Vaidyanathan |
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Designation : |
Company Secretary |
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Address : |
265, 2nd Cross, Someswarapuram Layout, Ulsoor, |
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Date of Birth/Age : |
16.03.1944 |
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Date of Appointment : |
01.01.2008 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 29.09.2009
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Names of Shareholders |
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No. of Shares |
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Mr. Tadimalla S. Rao |
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1 |
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Mr. Rangachary Rajagopalan |
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1 |
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Mr. Namasivayam Reguraj |
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100 |
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Mr. Lakshmanan A. Senapathy |
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1 |
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Mr. R. Ramanujam |
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100 |
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Mr. Narayanaswamy Venkataramani |
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1 |
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NTTF |
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6411100 |
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Brakes India Limited, Chennai |
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75000 |
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India Pistons Limited, Chennai |
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25000 |
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Senapathy Whiteley Private Limited, |
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25000 |
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Lakshmanan Isola Private Limited, |
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25000 |
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Sundaram Finance Limited, Chennai |
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75000 |
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Mahindra And Mahindra Limited, Mumbai |
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75000 |
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Tractor and Farm Equipment Limited, |
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25000 |
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Mr. P. Raja Rama Rao |
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1250 |
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Mr. P. Raja Rama Rao |
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1250 |
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Mr. P. Raja Rama Rao |
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2500 |
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Mr. P. Raja Rama Rao |
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2500 |
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Mr. P. Raja Rama Rao |
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2500 |
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Bimetal Bearings, |
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25000 |
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Sirur Mohan |
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1 |
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Total |
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6771305 |
Equity Share breakup (percentage of total equity) as on 30.09.2009
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Category |
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Percentage of
Holding |
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Bodies corporate |
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99.00 |
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Other top fifty shareholders |
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1.00 |
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Total |
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100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of Precision Press Tools, Injection moulds, auto
electrical items. |
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Exports : |
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Products : |
Precision Press Tools |
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Countries : |
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Imports : |
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Products : |
Raw Material |
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Countries : |
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Terms : |
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Selling : |
Cash and Credit (30-60-90 Days) |
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Purchasing : |
Cash and Credit (30-60-90 Days) |
GENERAL INFORMATION
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Customers : |
Manufacturer, End Users and OEM’s
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No. of Employees : |
50 (Approximately) |
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Bankers : |
The Shamrao Vithal Co-Operative Bank Limited, 5th Cross, I Stage, Kssidc Multi Storeyed Building, Peenya Industrial Estate, Bangalore - 560058, Karnataka, India |
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Facilities : |
The loans secured by mortgage and hypothecation of company’s immovable
and movable assets present and future (save and except book debts) ranking
pari passu subject to prior charge created/ to be created in favour of
company’s bankers on stocks of raw materials, components, works-in-progress
and finished goods for securing working capital facilities. Cash credit is secured by hypothecation of raw materials components,
works-in-progress, finished goods and book debts.
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Banking
Relations : |
- |
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Auditors : |
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Name : |
T. Sriram And Company Chartered Accountant |
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Address : |
No. 2974, 17th Cross, |
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Tel. No.: |
91-80-26760733/26769481 |
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Mobile No.: |
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Fax No.: |
91-80-26760733/26769481 |
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Holding Company : |
Nettur Technical Training Foundation |
CAPITAL STRUCTURE
AS ON 31.03.2009
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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10,000,000 |
Equity Shares |
Rs. 10/- each |
Rs. 100.000 Millions |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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205 |
Equity Shares (at par) |
Rs. 10/-
each |
Rs. 0.002
Million |
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4,760,000 |
Equity Shares (at a Premium of Rs. 10/- each) |
Rs. 10/-
each |
Rs. 47.600
Millions |
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20,11,100 |
Equity Shares (at a Premium of Rs. 33/- each) |
Rs. 10/-
each |
Rs. 20.111
Millions |
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Total |
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Rs. 67.713 Millions |
Note – of the above 4,760,000 equity shares 3,250,000
equity shares Rs. 10/- each at a premium of Rs. 10/- each allotted for
consideration other than cash)
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
31.03.2009 |
31.03.2008 |
31.03.2007 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
67.713 |
67.713 |
67.713 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
115.552 |
115.552 |
115.552 |
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4] (Accumulated Losses) |
(78.256) |
(17.341) |
2.199 |
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NETWORTH |
105.009 |
165.924 |
185.464 |
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LOAN FUNDS |
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1] Secured Loans |
307.865 |
304.622 |
206.772 |
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2] Unsecured Loans |
25.000 |
4.351 |
0.000 |
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TOTAL BORROWING |
332.865 |
308.973 |
206.772 |
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DEFERRED TAX LIABILITIES |
28.470 |
36.626 |
32.920 |
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Deferred Credit – Trade Advances (Unsecured) |
4.860 |
0.000 |
0.000 |
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Deposit – Kostal |
95.000 |
0.000 |
0.000 |
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TOTAL |
566.204 |
511.523 |
425.156 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
379.575 |
295.791 |
265.694 |
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Capital work-in-progress |
0.068 |
0.060 |
0.060 |
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INVESTMENT |
0.553 |
0.553 |
0.453 |
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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 |
206.554
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194.677
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158.542 |
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Sundry Debtors |
101.413
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88.948
|
93.415 |
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Cash & Bank Balances |
3.049
|
3.604
|
4.370 |
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Other Current Assets |
0.000
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0.000
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0.000 |
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Loans & Advances |
40.615
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64.528
|
47.371 |
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Total
Current Assets |
351.631
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351.757
|
303.698 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
163.196
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133.698
|
141.114 |
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Provisions |
3.750
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6.240
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8.911 |
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Total
Current Liabilities |
166.946
|
139.938
|
150.025 |
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Net Current Assets |
184.685
|
211.819
|
153.673 |
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MISCELLANEOUS EXPENSES |
1.323 |
3.300 |
5.276 |
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TOTAL |
566.204 |
511.523 |
425.156 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
31.03.2009 |
31.03.2008 |
31.03.2007 |
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Sales Turnover |
508.212 |
523.716 |
508.800 |
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Profit/(Loss) Before Tax |
(68.470) |
(12.684) |
16.222 |
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Provision for Taxation |
0.600 |
6.856 |
3.090 |
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Profit/(Loss) After Tax |
(69.070) |
(19.540) |
13.132 |
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PARTICULARS |
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31.03.2010 |
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Sales Turnover |
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565.400 |
Expected Sales (2010-2011) : Rs. 700.000 Millions
KEY RATIOS
|
PARTICULARS |
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31.03.2009 |
31.03.2008 |
31.03.2007 |
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Net Profit Margin (PBT/Sales) |
(%) |
(13.47)
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(2.42)
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3.18 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
(9.49)
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(1.95)
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2.84 |
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Return on Investment (ROI) (PBT/Networth) |
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(0.65)
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(0.07)
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0.08 |
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Debt Equity Ratio (Total Liability/Networth) |
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4.80
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2.70
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1.92 |
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Current Ratio (Current Asset/Current Liability) |
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2.10
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2.51
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2.05 |
LOCAL AGENCY FURTHER INFORMATION
TRADE REFERENCE
- Brakes India
Limited
- Eveready
Industries India Limited
- Crompton
Greaves Limited
FORM 8
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This form is for |
Modification of
charge |
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Charge
identification number of the modified |
80015574 |
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Corporate
identity number of the company |
U29221KA1994PTC015104 |
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Name of the
company |
NTTF INDUSTRIES
Private LIMITED |
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Address of the registered
office or of the principal place of
business in |
23/24, 2nd
Phase,Peenya Industrial Area,. |
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Type of charge |
Book Debts Others |
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Particular of
charge holder |
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Nature of description
of the instrument creating or modifying the charge |
Common Deed Of
Hypothecation Of Stocks/ Book Debts |
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Date of
instrument Creating the charge |
08.05.2009 |
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Amount secured by
the charge |
Rs. 331.675
Millions |
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Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest Interest @ 14.50%
p.a (Floating) Terms of Repayment Shall be repaid
in lumpsum on or before 9 months from the date of sanction or on realization
of payments from M/s. Toyota Kirloskar Motor Company, whichever
is earlier. Margin 25% Extent and Operation of the charge Charge extends by
way of first charge on the aforesaid assets throughout the period of
sanctioned limits Others Corporate Guarantee
of Nettur Technical Training Foundation offered NTTF Industries
Private Limited : Rs. 316.675 Millions Project Loan : Rs. 15.000 Millions Total
: Rs. 331.675 Millions |
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Short particulars
of the property charged |
Hypothecation of
the whole of the present and future stocks of raw materials, goods in process
of manufacture and all finished goods such as press tools, book debts,
outstanding monies, receivables, claims, bills, etc belonging to the company
situated at No. 23/24, 2nd Phase, Peenya Industrial Area, Bangalore- 560 058. |
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Date of latest
modification prior to the present modification |
17.04.2009 |
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Particulars of
the present modification |
Total limits
enhanced from Rs. 316.675 Millions to Rs. 331.675 Millions, by the addition
of a project loan of Rs. 15.000 Millions. All other terms, conditions and
existing securities to continue. |
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Corporate
identity number of the company |
U29221KA1994PTC015104 |
|
Name of the
company |
NTTF INDUSTRIES
Private LIMITED |
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Address of the
registered office or of the principal place of business in |
23/24, 2nd
Phase,Peenya Industrial Area, |
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This form is for |
Modification of
charge |
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Type of charge |
Immovable
Property |
|
Particular of
charge holder |
THE SHAMRAO
VITHAL CO-OPERATIVE BANK LIMITED |
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Nature of
instrument creating charge |
Recording Letter Evidencing
Deposit of Title Deeds |
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Date of
instrument Creating the charge |
05/07/2010 |
|
Amount secured by
the charge |
Rs.803.265
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Terms of
Repayment Repayable on
demand Extent and
Operation of the charge Charge extends by
way of first charge on the immovable properties specified in the Schedules I
to IV towards various credit facilities sanctioned to Nettur Technical
Training Foundation, NTTF Industries Private Limited and Edutech NTTF India
Private Limited. Others The security on
immovable properties is extended as under : Nettur Technical
Training Foundation: Rs. 232.500 Millions NTTF Industries
Private Limited: Rs.344.175 Millions Edutech NTTF India
Private Limited:Rs.226.590 Millions Total : Rs.
803.265 Millions |
|
Short particulars
of the property charged |
EM on co's
immovable properties situated at Shed No. B-7 and B-8 in Katpadi Industrial
Estate, in Gudiyatham Taluk, North Arcot, Ambedkar District, Vellore
admeasuring 18515 Sft comprised in Sy
Nos. 420, 421 and 422, of Kangeyanallor village, together with all plant and
machinery, workshop equipments, furnitures, etc installed thereon EM on co's
immovable properties situated at Shed No. B-9 and B-10 in Katpadi Industrial
Estate in Gudiyattam Taluka, North Arcot, Ambedkar District, |
|
Date of
instrument modifying the charge |
11/05/2010 |
|
Particulars of
the present modification |
Total limits
enhanced to Rs. 803.265 millions. EM on co's immovable property situated at
Shed No. B-7 and B-8, Sy Nos. 420, 421 and 422, Shed No. B-9 and B-10, Sy
Nos. 421 and 422, Industrial Shed of
Tool Room, Sy Nos. 413, 414, 415 and 420 Sy Nos. 388/1 extent 46 cents, 387/5
extent 5 cents, 388/2 extent 11 cents and 388/3 extent 20 cents in Kangeyannalur
Village, Katpadi Industrial Estate Gudiyattam Taluk. All other terms,
conditions and existing securities to continue. |
Fixed Assets
- Land And Land Development
- Building
- Plant And Machinery
- Electrical Appliances And Furniture
- Office Equipment
- Computer
- Furniture And Fixtures
- Vehicles
- Goodwill
AS PER WEBSITE
DETAILS
Subject with
a history of nearly four decades developed core competency in Industrial
Toolings press tools, moulds, Dies etc., being an integral part of the NTTF which has a heritage of providing
Training in Tool and Die making.
The company diversified into Automotive Electrical Products (Switches and
Controls) in the year 1987. Subject,
won the prestigious award : "Best Indigenous Technology for the year -
1996" - an award instituted by the Automative Components Manufactures
Association of India.
Today subject
is known for high quality precision Toolings, Industrial Components for
Automotive, Electrical Switches and Controls for automotive OEMs.
Subject is a
'Full Service Supplier' (FSS) from 'Concept Through Supply of Products and
Services.
1959 : First Training Centre in Kerala
1959 – 99 : Six more training Centres with total student
strength of over 1000 per year
1994 : Commercial activities spun of as a Public Limited
Company - NTTF Industries Private Limited,
1999 : JV with
2008 : JV with
Design and Manufacture of Precision Press Tools, Injection
Moulds, Compression / Transfer Moulds, Diecasting Dies, Jigs, Fixtures, Gauges,
Test Equipment and Special Purpose Machines.
Manufacture of Sheet Metal
pressed parts, Injection / Compression Molded parts.
Design, Development and
Manufacture of Auto Electrical items (Multifunction Combination Switches,
Distribution Boards - Fuse and Junction Box, Fuse and Relay Box, Hidden
Switches, Panel Switches, etc.,)
Manufacture of Sub-assemblies
for consumer Durables and Electronic equipment.
Manufacture of Sophisticated
Electronic assemblies for professional grade/consumer application at the
Electronics Centre, which is equipped with modern facilities.
Business
Evolution With OEM
1987-88 : Development of Combination Switch Assembly
for Maruti
1994-96 : Introduction of new products to Maruti Fuse
and Junction Box (FJB) Fuse and Relay Box (FRB)
1996 : Awarded ACMA Technology Award for the year
1996 for indegenous technology for FJB
Today, NTTF has become the
supplier of COMBINATION SWTICH ASSEMBLY to the following
Automobile companies.
- Mahindra and Mahindra
- Premier Auto Limited
- Bajaj Tempo Limited
- Telco
- Eicher Motor Limited
- Hindustan Motor Limited
1998
: For General Motors India, NTTF developed
(a) Switch Air Blower
(b) Heater Control Panel
1998 : Introduced new products to Mahindar
and Mahindra
Centeral Locaking System
Glow Plug Heater Timer and Relay unit
1998-99 :
Signed MOU with AISIN SEIKI for supply for door lock systems
to TKML (
2008 :
Signed MOU with
TF Industries Private Limited, (NTTFIPL), Manufacturing
Division,
Subject, is promoted by the renowned Nettur Technical Training Foundation (
NTTF) to manage its commercial operations. Subject is managed by a board of
Directors with registered Office in
Subject has two production units , one at Peenya,
Subject has developed dedicated anicilary units where-in all
the assembly line know-how , equipment, tooling and technical supervision and
control are held by subject.
Subject has Joint Ventures with AISIN SEIKI,
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.45.38 |
|
|
1 |
Rs.73.08 |
|
Euro |
1 |
Rs.61.60 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
- |
|
--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 |
NO |
|
--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 |
|
- |
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.