MIRA
INFORM REPORT
|
Report Date : |
13.01.2011 |
IDENTIFICATION DETAILS
|
Name : |
WINSOME TRANSLATORS PRIVATE LIMITED |
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Registered
Office : |
No. 93, 1st Floor, Sarai Jullena, Opposite Escorts
Hospital, Okhla Road, New Delhi - 110 025 |
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Country : |
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Financials (as
on) : |
31.03.2010 |
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Date of
Incorporation : |
09.07.2008 |
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Com. Reg. No.: |
55-180633 |
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CIN No.: [Company Identification
No.] |
U74995DL2008PTC180633 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
DELW01858D |
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PAN No.: [Permanent Account No.] |
AAACW7995F |
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Legal Form : |
Private Limited
Liability Company |
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Line of Business
: |
Providing
translation
services like language translation, interpretation services, administrative translation and legal translation. |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca (13) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
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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 a successor of Winsome translators a proprietory concern
started in 2006. Trade relations are reported as fair. Business is active.
Payments are reported to be slow. The company can be considered for business dealings on secured trade
terms and conditions, initially. |
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 |
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Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
|
Off-credit |
D |
INFORMATION DECLINED BY
|
Name : |
Mr. Tanwir Ahmed |
|
Designation : |
Director |
|
Contact No.: |
91-9811200476 |
|
Date : |
12.01.2011 |
LOCATIONS
|
Registered Office / Factory : |
No. 93, 1st Floor, Sarai Jullena, Opposite Escorts
Hospital, Okhla Road, New Delhi - 110 025, India |
|
Tel. No.: |
91-11-26841187 |
|
Mobile No.: |
91-9811200476 (Mr. Tanwir Ahmed)) |
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Fax No.: |
91-11-26841189 |
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E-Mail : |
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Website : |
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Location : |
Leased |
DIRECTORS
As on 26.09.2010
|
Name : |
Mr. Tanzim Wakil Ahmed |
|
Designation : |
Director |
|
Address : |
R-163, 3rd Floor, Gali No.6, Sir Saiyad Road, Joga Bai
Extention, Jamiya Nagar, Okhla Road, New Delhi - 110 025, India |
|
Date of Birth/Age : |
06.11.1978 |
|
Qualification : |
MBA |
|
Date of Appointment : |
09.07.2008 |
|
DIN No.: |
02223765 |
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|
|
|
Name : |
Mr. Tanwir Wakil Ahmed |
|
Designation : |
Director |
|
Address : |
R-163, 3rd Floor, Gali No.6, Sir Saiyad Road, Joga Bai
Extention, Jamiya Nagar, Okhla Road, New Delhi - 110 025, India |
|
Date of Birth/Age : |
27.04.1975 |
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Qualification : |
Graduate |
|
Date of Appointment : |
09.07.2008 |
|
DIN No.: |
02223756 |
KEY EXECUTIVES
|
Name : |
Mr. Rajesh K. Jha |
|
Designation : |
Company Secretary |
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Address : |
2/2 Gaur Enclave II, C-348 |
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Name : |
Mr. Tanzim Ahmed |
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Designation : |
Project Manager |
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Mobile No. : |
91-9811200476 / 9818722795 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 26.09.2010
|
Names of Shareholders |
|
No. of Shares |
|
Tanwir Ahmed |
|
5000 |
|
Tanzim Ahmed |
|
5000 |
|
Total |
|
10000 |
As on 26.09.2010
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Directors
or relatives of directors |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Providing
translation
services like language translation,
interpretation services, administrative translation and legal translation. |
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|
|
|
Services : |
Translation
Services ·
Administrative
Translation: Translation of circulars and notices, application forms, terms
and conditions, etc. produced by local, regional, national or international
Government bodies, authorities, institutions and organizations ·
Commercial
Translation: Translation of contractually-binding documents ·
Economic
Translation: Translation of documents that general companies distribute to
investors, promoters and business analysts
·
Financial
Translation: Translation of contracts, accounting documents, agreements, financial
statements, audit reports, investment offers, bids, terms of credit, hot
stock market news, insurance policies, bills of lading and other business and
financial papers in different languages ·
General
Translation: Translation of documents in any language (Japanese, German,
Arabic, Spanish, Hindi, Korean, French, Chinese, Bengali, etc.) and subject ·
Legal
Translation: Translation of summons, complaints, and other legal documents like
adoption and divorce papers, civil and criminal case documents, legally
binding contracts, etc ·
Literary
Translation: Translation of literary texts from one language to another
language ·
Medical
Translation: Translation of medical documents like patient doctor
communication, documents which outline medical procedures, documentation of
surgeries, transcription of medical conferences etc. ·
Technical
Translation: Translation of technical documents like those related with
research and specialized fields of the technical sciences ·
Clinical
Research Translation: Translation services for pharmaceutical companies,
clinical research organizations, biotechnology firms, hospitals, clinical
researchers, manufacturers of medical and surgical devices, biotech companies,
health care companies, etc. Interpretation
Services ·
Simultaneous
Interpretation ·
Consecutive
Interpretation ·
Personal
Interpreter Services ·
For
Factory / Machine Installation ·
Interpreters
for Tourists IT Services ·
Software
Development ·
Multimedia Other Services ·
Multilingual
Localization ·
Multi
Lingual Desktop Publishing ·
Multilingual
Brochure Designing ·
Multilingual
Copywriting ·
Voice
Over Services ·
Subtitling
Services ·
Transcription
Services |
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Terms : |
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Selling : |
Cash |
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Purchasing : |
Cash |
GENERAL INFORMATION
|
Customers : |
OEM’S |
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No. of Employees : |
8 (Approximately) |
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Bankers : |
HDFC Bank, |
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Banking
Relations : |
-- |
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Auditors : |
|
|
Name : |
Kanhaiya Lal and Company Chartered Accountants |
|
Address : |
301, Avadh Complex, D-5, Laxmi Nagar, |
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Tel. No.: |
91-11-65353318 |
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Mobile No.: |
91-9212177844/ 9212077844 |
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Fax No.: |
91-11-43027892 |
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E-Mail : |
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Website : |
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Associates/Subsidiaries : |
Winsome Advertising and Marketing Company Limited, |
CAPITAL STRUCTURE
As on 26.09.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
10000 |
Equity Share |
Rs.10/- each |
Rs. 0.100 Million |
|
|
|
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|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
10000 |
Equity Share |
Rs.10/- each |
Rs. 0.100
Million |
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|
|
|
|
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 |
|
0.100 |
0.100 |
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|
2] Share Application Money |
|
0.000 |
0.000 |
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|
3] Reserves & Surplus |
|
0.036 |
0.011 |
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|
4] (Accumulated Losses) |
|
0.000 |
0.000 |
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NETWORTH |
|
0.136 |
0.111 |
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|
LOAN FUNDS |
|
|
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|
1] Secured Loans |
|
0.000 |
0.000 |
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2] Unsecured Loans |
|
0.000 |
0.000 |
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|
TOTAL BORROWING |
|
0.000 |
0.000 |
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DEFERRED TAX LIABILITIES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
0.136 |
0.111 |
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|
|
|
|
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
|
0.000 |
0.000 |
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Capital work-in-progress |
|
0.000 |
0.000 |
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INVESTMENT |
|
0.000 |
0.000 |
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DEFERREX TAX ASSETS |
|
0.000 |
0.000 |
|
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|
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|
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
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|
Inventories |
|
0.000 |
0.000 |
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Sundry Debtors |
|
0.184 |
0.000 |
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|
Cash & Bank Balances |
|
0.405 |
0.146 |
|
|
Other Current Assets |
|
0.053 |
0.005 |
|
|
Loans & Advances |
|
0.000 |
0.000 |
|
Total
Current Assets |
|
0.642 |
0.151 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
0.021 |
0.045 |
|
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Other Current Liabilities |
|
0.000 |
0.000 |
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|
Provisions |
|
0.497 |
0.011 |
|
Total
Current Liabilities |
|
0.518 |
0.056 |
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Net Current Assets |
|
0.124 |
0.095 |
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|
MISCELLANEOUS EXPENSES |
|
0.012 |
0.016 |
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|
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|
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TOTAL |
|
0.136 |
0.111 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
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Income |
|
2.162 |
0.228 |
|
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Other Income |
|
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TOTAL |
|
2.162 |
0.228 |
|
|
|
|
|
|
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|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
0.211 |
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Administrative Expenses |
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Advertising Expenses |
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TOTAL |
|
2.126 |
0.211 |
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|
|
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|
PROFIT BEFORE
TAX |
|
0.036 |
0.017 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
|
0.011 |
0.006 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
|
0.025 |
0.011 |
|
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|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
|
2.50 |
NA |
|
KEY RATIOS
|
PARTICULARS |
|
|
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
|
1.16 |
4.82 |
|
|
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|
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|
Return on Total Assets (PBT/Total Assets} |
(%) |
|
5.61 |
11.26 |
|
|
|
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|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
|
0.26 |
0.15 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
|
3.81 |
0.50 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
|
1.24 |
2.70 |
LOCAL AGENCY FURTHER INFORMATION
FUTURE PROSPECTS:
The company will concentrate
on job work on behalf of the clients during the coming years.
WEBSITE DETAILS:
PROFILE:
Subject is a professionally managed organization specialized in offering
Foreign Language Interpretation, Translation and Training Services. They
provide industry’s most competitive language training and translation services.
Their services primarily include Interpretation Services, foreign language
training, consecutive interpretation, and localization services. In this
domain, they are considered as one of the best service providers and all their
services have been immensely praised in
They are empanelled with leading MNC, PSU and Embassies as Honesty,
Transparency, Cost effectiveness, etc. are some of their attributes that have
made them a reliable entity in the market. They have a team of highly skilled
and qualified translators who have accumulated years of experience in their
respective language field. With expertise in the fields like Information
technology, finance, law, physics etc. their translators are their true assets.
Owing to their proficiency, they are competent enough to meet all the
requirements with precision. Consequently, they are reckoned as one of the
credible providers of Professional Translation Services in
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject are
derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.45.16 |
|
|
1 |
Rs.70.64 |
|
Euro |
1 |
Rs.58.68 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
2 |
|
OPERATING SCALE |
1~10 |
2 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
1 |
|
--PROFITABILIRY |
1~10 |
1 |
|
--LIQUIDITY |
1~10 |
1 |
|
--LEVERAGE |
1~10 |
1 |
|
--RESERVES |
1~10 |
1 |
|
--CREDIT LINES |
1~10 |
1 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--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 |
|
13 |
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.