1. Summary Information
|
|
|
Country |
|
|
Company Name |
PREMIER ALLOYS AND CHEMICAL PRIVATE LIMITED |
Principal Name 1 |
Ms. Shankar Gauri Marda |
|
Status |
Satisfactory |
Principal Name 2 |
Mr. Shankar Ravi Marda |
|
|
|
Registration # |
01-008762 |
|
Street Address |
F-19-B, I D A,
Jeedimetla, Secunderabad – 500055, |
||
|
Established Date |
15.06.1988 |
SIC Code |
-- |
|
Telephone# |
91-40-23095128 |
Business Style 1 |
Manufacturer |
|
Fax # |
91-40-23097123 |
Business Style 2 |
-- |
|
Homepage |
-- |
Product Name 1 |
Ferro molybdenum |
|
# of employees |
Not Available |
Product Name 2 |
Ferro vanadium |
|
Paid up capital |
Rs. 19,500,000/- |
Product Name 3 |
Vanadium pentoxide |
|
Shareholders |
Directors or
relatives of Directors – 100% |
Banking |
State Bank of |
|
Public Limited Corp. |
No |
Business Period |
|
|
IPO |
No |
International Ins. |
- |
|
Public |
No |
Rating |
Ba (49) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
CEO |
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2010 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
124,402,000 |
Current Liabilities |
31,102,000 |
|
Inventories |
96,295,000 |
Long-term Liabilities |
81,502,000 |
|
Fixed Assets |
16,321,000 |
Other Liabilities |
0 |
|
Deferred Assets |
728,000 |
Total Liabilities |
112,604,000 |
|
Invest& other Assets |
686,000 |
Retained Earnings |
106,328,000 |
|
|
|
Net Worth |
125,828,000 |
|
Total Assets |
238,432,000 |
Total Liab. & Equity |
238,432,000 |
|
Total Assets (Previous Year) |
148,494,000 |
|
|
|
P/L Statement as of |
31.03.2010 |
(Unit: Indian Rs.) |
|
|
Sales |
569,090,000 |
Net Profit |
43,203,000 |
|
Sales(Previous yr) |
788,861,000 |
Net Profit(Prev.yr) |
21,936,000 |
MIRA
INFORM REPORT
|
Report Date : |
01.07.2011 |
IDENTIFICATION DETAILS
|
Name : |
PREMIER ALLOYS AND CHEMICAL PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
F-19-B, I D A, Jeedimetla, Secunderabad – 500055, Andhra Pradesh |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on)
: |
31.03.2010 |
|
|
|
|
Date of
Incorporation : |
15.06.1988 |
|
|
|
|
Com. Reg. No.: |
01-008762 |
|
|
|
|
Paid-up Capital
: |
Rs. 19.500 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U27109AP1988PTC008762 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
HYDP01178C |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCP2285J |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of noble ferro alloys like ferro molybdenum, ferro
vanadium, vanadium pentoxide and ammonium meta vanadate |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (49) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 500000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track. Trade
relations are reported as fair. Business is active. Payments are reported to be
usually correct and as per commitments. 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 – June 30, 2010
|
Country Name |
Previous Rating (01.04.2010) |
Current Rating (30.06.2010) |
|
|
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/ Factory : |
F-19-B, I D A, Jeedimetla, Secunderabad – 500055, |
|
Tel. No.: |
91-40-23095128 |
|
Fax No.: |
91-40-23097123 |
|
E-Mail : |
|
|
|
|
|
Corporate Office : |
320, Bhanu Enclave, Sanjeeva Reddy Nagar, |
|
Tel. No.: |
91-40-23810018 |
|
Fax No.: |
91-40-23810326 |
DIRECTORS
As On 26.07.2010
|
Name : |
Ms. Shankar Gauri Marda |
|
Designation : |
Managing Director |
|
Address : |
Plot No 154, Phase II, Kavuri Hills, |
|
Date of Birth/Age : |
01.02.1953 |
|
Date of Appointment : |
15.06.1988 |
|
DIN No.: |
00254841 |
|
|
|
|
Name : |
Mr. Shankar Ravi Marda |
|
Designation : |
Director |
|
Address : |
10 Rukminidevi Colony Part II, Near Aoc, West Marredpally,
Secunderabad – 5000262, |
|
Date of Birth/Age : |
17.10.1954 |
|
Date of Appointment : |
01.05.2002 |
|
DIN No.: |
00254543 |
|
|
|
|
Name : |
Ms. Shashikala Ram Shankar Marda |
|
Designation : |
Director |
|
Address : |
1705, |
|
Date of Birth/Age : |
20.09.1952 |
|
Date of Appointment : |
03.06.2005 |
|
|
|
|
Name : |
Ms. Premlata Vijay Shankar Marda |
|
Designation : |
Director |
|
Address : |
Flat No. 304, Indradhanush Apartments, Road No. 2, Banjarahills, |
|
Date of Appointment : |
03.06.2005 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As On 26.07.2010
|
Names of Shareholders |
|
No. of Shares |
|
Marda Gauri Shankar |
|
43940 |
|
Marda Kusum |
|
4030 |
|
Marda premlata |
|
12990 |
|
Marda Shashikala |
|
59280 |
|
Marda Prerna |
|
2600 |
|
Marda Anup |
|
42900 |
|
Marda |
|
10206 |
|
Marda Sharada Devi |
|
10 |
|
Marda Rajeshwari |
|
19044 |
|
Total |
|
195000 |
As On 26.07.2010
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of noble ferro alloys like ferro molybdenum, ferro
vanadium, vanadium pentoxide and ammonium meta vanadate |
||||||
|
|
|
||||||
|
Products : |
|
||||||
|
|
|
PRODUCTION STATUS (As On 31.03.2010)
|
Particulars |
|
|
Unit |
Installed
Capacity |
|
Ferro Vanadium |
|
|
MT/Month |
24 |
|
Ferro Molybdenum |
|
|
MT/Month |
60 |
|
Ferro Boron |
|
|
MT/Month |
1 |
|
Ferro Titanium |
|
|
MT/Month |
1 |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
|||||||||||||||||||||||||||
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Bankers : |
|
|||||||||||||||||||||||||||
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|
|
|||||||||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
P. D. Rao and Company Chartered Accountant |
|
Address : |
10-3-337/9, Street No. 3, Vijaynagar Colony, |
|
Tel. No.: |
91-40-23341681 |
|
E-Mail : |
|
|
Pan No.: |
ACUPP7476M |
CAPITAL STRUCTURE
As On 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
195000 |
Equity Shares |
Rs. 100/- each |
Rs. 19.500 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
195000 |
Equity Shares |
Rs. 100/- each |
Rs. 19.500 Millions |
|
|
|
|
|
Note:
(of the above Shares,
1,86,000 Equity Shares were issued as fully Paid up Bonus Shares by way of
Capitalisation of Profit and
General Reserve.)
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
19.500 |
19.500 |
19.500 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
106.328 |
85.939 |
101.698 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
125.828 |
105.439 |
121.198 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
74.857 |
18.154 |
58.977 |
|
|
2] Unsecured Loans |
6.645 |
6.556 |
5.766 |
|
|
TOTAL BORROWING |
81.502 |
24.710 |
64.743 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
3.727 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
207.330 |
133.876 |
185.941 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
16.321 |
14.862 |
14.533 |
|
|
Capital work-in-progress |
0.379 |
0.368 |
0.285 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.307 |
0.307 |
0.357 |
|
|
DEFERREX TAX ASSETS |
0.728 |
0.000 |
1.840 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
96.295
|
32.835 |
101.887 |
|
|
Sundry Debtors |
82.665
|
37.264 |
69.890 |
|
|
Cash & Bank Balances |
0.633
|
19.311 |
0.101 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
41.104
|
43.547 |
59.064 |
|
Total
Current Assets |
220.697
|
132.957 |
230.942 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
5.879
|
4.845 |
3.597 |
|
|
Other Current Liabilities |
4.167
|
0.440 |
3.078 |
|
|
Provisions |
21.056
|
9.333 |
55.341 |
|
Total
Current Liabilities |
31.102
|
14.618 |
62.016 |
|
|
Net Current Assets |
189.595
|
118.339 |
168.926 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
207.330 |
133.876 |
185.941 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
569.090 |
788.861 |
737.246 |
|
|
|
Other Income |
1.043 |
2.766 |
0.141 |
|
|
|
TOTAL (A) |
570.133 |
791.627 |
737.387 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials |
459.078 |
681.699 |
|
|
|
|
Employee cost |
13.462 |
11.526 |
|
|
|
|
Manufacturing and other expenses |
44.305 |
36.636 |
|
|
|
|
Profit on sale of Assets |
(0.116) |
(0.001) |
|
|
|
|
Increase / Decrease in stocks |
(12.688) |
16.621 |
|
|
|
|
TOTAL (B) |
504.041 |
746.481 |
639.401 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
66.092 |
45.146 |
97.986 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
3.198 |
5.234 |
5.822 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
62.894 |
39.912 |
92.164 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
2.932 |
2.979 |
2.673 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
59.962 |
36.933 |
89.491 |
|
|
|
|
|
|
|
|
|
Less |
TAX (I) |
16.759 |
14.997 |
29.438 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-I) (J) |
43.203 |
21.936 |
60.053 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
42.966 |
61.225 |
52.142 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Interim Dividend |
19.500 |
31.200 |
19.500 |
|
|
|
Tax on Dividend |
3.314 |
6.495 |
5.470 |
|
|
|
General Reserve |
4.500 |
2.500 |
6.500 |
|
|
|
Proposed Dividend |
0.000 |
0.000 |
19.500 |
|
|
BALANCE CARRIED
TO THE B/S |
58.855 |
42.966 |
61.225 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
17.677 |
8.744 |
36.350 |
|
|
|
Others |
0.019 |
0.000 |
0.557 |
|
|
TOTAL EARNINGS |
17.696 |
8.744 |
36.907 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
209.379 |
443.862 |
454.344 |
|
|
TOTAL IMPORTS |
209.379 |
653.241 |
898.206 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
221.55 |
112.49 |
NA |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
7.58 |
2.78 |
12.14 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
10.54 |
4.68 |
12.14 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
25.30 |
24.99 |
36.46 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.48 |
0.35 |
0.74 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.89 |
0.37 |
1.05 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
7.10 |
9.10 |
3.72 |
LOCAL AGENCY FURTHER INFORMATION
Performance:
Turnover for the
year had decreased by about 28%, but profits jumped by 62% during the year / in
line with there report last year. This was mainly due to faster recovery in
selling prices than increase in raw material prices. The demand for the
Company's products are improving alongwith prices and the current year is
likely to see further improvement in turnover and profitability barring
unforeseen circumstances.
The Company
continued its policy of exporting its products when the prices overseas are
more favourable and exported Rs. 17.677 millions worth of goods during the year
as compared to Rs. 8.744 millions in the corresponding previous year. The
outlook for exports appears encouraging for the current year. In addition, the
Company received Export Excellence Award for its efforts in Export during
2007-08 from EEPC, Southern Region in Feb, 2010 at a ceremony held at
The Company
completed the construction and other layout in the adjacent land including
refurbishment of old furnace. The Company has also made application to
appropriate authorities for consent for expansion of its existing production
capacities. They have accordingly placed order for a New XRF testing equipment
from Japan and another furnace which are expected to be commissioned in the
I" half of current financial year.
Form 8:
|
Corporate
identity number of the company |
U27109AP1988PTC008762 |
||||||
|
Name of the
company |
PREMIER ALLOYS
AND CHEMICALS PRIVATE LIMITED |
||||||
|
Address of the registered
office or of the principal place of
business in |
F-19-B,I D
A,Jeedimetla, Secunderabad - 500055, |
||||||
|
This form is for |
Modification of
charge |
||||||
|
Type of charge |
Immovable
Property |
||||||
|
Particular of
charge holder |
|
||||||
|
Nature of
instrument creating charge |
Letter confirming
the deposit of title deeds dated 07.07.2010. Letter Confirming
the deposit of title deeds for extension of the existing Mortgage dated
07.07.2010. (Collectively
constitute a single charge for Rs.50.000 millions) |
||||||
|
Date of
instrument Creating the charge |
07.07.2010 |
||||||
|
Amount secured by
the charge |
Rs. 50.000
Millions |
||||||
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest
- Interest at the rate as may be communicated by the Bank from time to time. Terms of
Repayment - On Demand. Margin - As may
be stipulated by the Bank from time to time. Extent and
Operation of the charge - The Company accorded
and gave oral consent to Bank to continue to hold and retain the title deeds
(by way of Constructive delivery) with
with SBH, SBH acting for itself and as agent of HDFC Bank, in respect
of its immovable properties as stated under Item No.15 below, as security for
repayment of Rs.50.000 millions, together with principal, interest,
liquidated damages, costs, charges and expenses. |
||||||
|
Description of
the property charged indicating whether it is a charged on |
|
||||||
|
Particulars of
the property charged |
Immovable
property situated at Shed No.F-19, Phase-I, IDA, Jeedimelta, Hyd. admeasuring
0.338 acres. Immovable
property situated at Plot No.F/19/B/1, Phase-I, IDA, Jeedimelta,
Hyd.admeasuring 886.83 sq.yards. Immovable
property situated at Shed No.F-19/A, Phase-I, IDA, Jeedimetla,
Hyd.Admeasuring 1635.92 sq.yards. Immovable
Property situated at Flat No.319 and 320 at Sy.No.124 bearing premises
No.7-1-638 and 7-1-643, 7-1-643/1, 855 SFT with 21 Sq.yds |
||||||
|
Date of
instrument modifying the charge |
21.11.2007 |
||||||
|
Particulars of
the present modification |
The
Mortgage/charge shall stands increased from Rs.30.000 millions to Rs.50.000
millions, in favour of the HDFC Bank Limited. |
Fixed Assets:
- Land
- Building
- Plant machinery
- Furniture
- Electrical installation
- Labs equipment
- Computers
- Scooters
- Cars
- Typewriters
- Air conditioner
- Office equipment
- Fax
- Fire equipment
- Boiler
- Furnace
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.44.72 |
|
|
1 |
Rs.71.96 |
|
Euro |
1 |
Rs.64.79 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
49 |
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.