1. Summary Information
|
|
|
Country |
India |
|
Company Name |
ATC TIRES
PRIVATE LIMITED |
Principal Name 1 |
Mr. Ashokkumar Purushottamdas Mahansaria |
|
Status |
Recently commences business |
Principal Name 2 |
Mr. Yogesh Ashokkumar Mahansaria |
|
|
|
Registration # |
11-172456 |
|
Street Address |
105, Creative
Industrial Estate, 72, N.M. Joshi Marg, Mumbai - 400092 |
||
|
Established Date |
18.07.2007 |
SIC Code |
-- |
|
Telephone# |
-- |
Business Style 1 |
Manufacturer of off - highway tires |
|
Fax # |
-- |
Business Style 2 |
-- |
|
Homepage |
Product Name 1 |
Flaps |
|
|
# of employees |
-- |
Product Name 2 |
Tubes |
|
Paid up capital |
Rs.
132,876,000 |
Product Name 3 |
Tyres |
|
Shareholders |
Foreign holdings (100.00%) |
Banking |
Axis Bank
Limited |
|
Public Limited Corp. |
-- |
Business Period |
4 years |
|
IPO |
-- |
International Ins. |
- |
|
Public |
-- |
Rating |
B
(27) |
|
Related
Company |
|||
|
Relation
- Holding Company |
Country
-
Cyprus |
Company
Name |
Turgco Limited |
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2010 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
239,267,000 |
Current Liabilities |
259,662,000 |
|
Inventories |
561,923,000 |
Long-term Liabilities |
1,406,680,000 |
|
Fixed Assets |
1,761,012,000 |
Other Liabilities |
25,403,000 |
|
Deferred Assets |
-- |
Total Liabilities |
1,691,745,000 |
|
Invest& other Assets |
678,866,000 |
Retained Earnings |
1,416,447,000 |
|
|
|
Net Worth |
1,549,323,000 |
|
Total Assets |
3,241,068,000 |
Total Liab. & Equity |
3,241,068,000 |
|
Total Assets (Previous Year) |
1,918,717,000 |
|
|
|
P/L Statement as of |
31.03.2010 |
(Unit: Indian Rs.) |
|
|
Sales |
251,706,000 |
Net Profit |
13,967,000 |
|
Sales(Previous yr) |
-- |
Net Profit(Prev.yr) |
11,052,000 |
MIRA
INFORM REPORT
|
Report Date : |
02.07.2011 |
IDENTIFICATION DETAILS
|
Name : |
ATC TIRES PRIVATE LIMITED (w.e.f. 26.03.2008) |
|
|
|
|
Formerly Known As : |
NM TYRES PRIVATE LIMITED |
|
|
|
|
Registered Office : |
105, Creative Industrial Estate, 72, N.M. Joshi Marg, Mumbai -
400092 |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.03.2010 |
|
|
|
|
Date of Incorporation : |
18.07.2007 |
|
|
|
|
Com. Reg. No.: |
11-172456 |
|
|
|
|
Paid up Capital : |
Rs.132.876 Millions |
|
|
|
|
CIN No.: [Company
Identification No.] |
U25111MH2007PTC172456 |
|
|
|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
MUMN15214D |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business : |
Manufacturer of off - highway tires |
|
|
|
|
No. of Employees : |
Not Available |
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 6197292 |
|
|
|
|
Status : |
Recently commences business |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Though the company was incorporated in the year July 2007, the company
started its production activities in April, 2010. Trade relations are reported as fair. Business is active. Payments are
reported to be slow but correct. The company can be considered for business dealings with some caution,
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 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
LOCATIONS
|
Registered Office : |
105, Creative Industrial Estate, 72, N.M. Joshi Marg, Mumbai -
400092 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Factory : |
Plot No. A-39, Road No. 11, Wagle Industrial Estate, MIDC, Thane –
400604, Maharashtra, India |
|
Tel. No.: |
91-22-25838451-55 |
|
Fax No.: |
91-22-25838456 |
|
|
|
|
Factory : |
Plot No. A2, Sipcot Industrial Growth Centre, Gangaikondan, Tirunelveli
– 627352, |
DIRECTORS
|
Name : |
Mr. Ashokkumar Purushottamdas Mahansaria |
|
Designation : |
Managing Director |
|
Address : |
B-202, Anand, Tirupati Apartment, |
|
Date of Birth/Age : |
12.12.1951 |
|
Date of Appointment : |
29.08.2007 |
|
|
|
|
Name : |
Mr. Yogesh Ashokkumar Mahansaria |
|
Designation : |
Director |
|
Address : |
B-202, Anand, Tirupati Apartment, |
|
Date of Birth/Age : |
13.09.1975 |
|
Date of Appointment : |
29.08.2007 |
|
|
|
|
Name : |
Mr. Niten Malhan |
|
Designation : |
Director |
|
Address : |
112/122, A Wing, |
|
Date of Birth/Age : |
02.08.1971 |
|
Date of Appointment : |
29.08.2007 |
|
|
|
|
Name : |
Mr. Vishal Kashyap Mahadevia |
|
Designation : |
Director |
|
Address : |
81, landmarkCarmichael Road, Mumbai – 400026, |
|
Date of Birth/Age : |
19.12.1972 |
|
Date of Appointment : |
29.08.2007 |
|
|
|
|
Name : |
Mr. Gajendra Singh Kushwaha |
|
Designation : |
Director |
|
Address : |
Flat No. F-07, Adura Arulagem Apartments, Palayamkottai, Tirunelveli –
627002, |
|
Date of Birth/Age : |
05.07.1953 |
|
Date of Appointment : |
02.09.2009 |
|
|
|
|
Name : |
Mr. Damodar Rathi |
|
Designation : |
Director |
|
Address : |
C-210, Axita Co-operative Housing Society Limited, RNP Park, Jessal Park
Road, Bhayender, Thane - 401105, Maharashtra, India |
|
Date of Birth/Age : |
03.01.1989 |
|
Date of Appointment : |
11.12.2007 |
|
|
|
|
Name : |
Mr. T. Kannan |
|
Designation : |
Director |
KEY EXECUTIVES
|
Name : |
Mr. Damodar |
|
Designation : |
Company Secretary |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2010
|
Names of Shareholders |
|
No. of Shares |
|
|
|
|
|
Turgco Limited |
|
13287595 |
|
ATC Secretaries Limited |
|
1 |
|
Total |
|
13287596 |
AS ON 31.03.2010
|
Category |
|
Percentage |
|
|
|
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
100.00 |
|
|
|
|
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of off – highway tires |
||||||||
|
|
|
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|
Products : |
|
GENERAL INFORMATION
|
Bankers : |
Axis Bank Limited, Central Office, Capital
Market Division, Maker Towers, F Wing, 11th Floor, Cuffe Parade,
Colaba, Mumbai – 400005, Maharashtra, India Axis Bank Limited, Dhiraj Baugh, LBS Marg,
Near |
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Facilities : |
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||||||||||
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||||||||||
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Banking Relations : : |
-- |
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|
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Auditors : |
|
||||||||||
|
Name : |
Price Waterhouse Chartered Accountant |
||||||||||
|
Address : |
252, Veer Savarkar Marg, |
||||||||||
|
Pan No.: |
AAFFP3698A |
||||||||||
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|
|
||||||||||
|
Ultimate Holding Company : |
WP Holding II B.V. |
||||||||||
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|
||||||||||
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Holding Company : |
Turgco Limited, |
||||||||||
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|
||||||||||
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Fellow Subsidiary Company : |
|
||||||||||
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Associates : |
|
CAPITAL STRUCTURE
AS ON 31.03.2009
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
15000000 |
Equity Share |
Rs.10/- Each |
Rs.150.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
13287596 |
Equity Share |
Rs.10/- Each |
Rs.132.876
Millions |
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 |
132.876 |
132.876 |
93.684 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
1416.447 |
1402.481 |
842.736 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
1549.323 |
1535.357 |
936.420 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
1406.680 |
341.460 |
0.000 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
1406.680 |
341.460 |
0.000 |
|
|
DEFERRED TAX LIABILITIES |
25.403 |
0.216 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
2981.406 |
1877.033 |
936.420 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
1761.012 |
76.865 |
7.453 |
|
|
Capital work-in-progress |
348.132 |
892.446 |
138.640 |
|
|
|
|
|
|
|
|
INVESTMENT |
330.734 |
769.797 |
740.859 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.114 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
561.923
|
0.000 |
0.000 |
|
|
Sundry Debtors |
183.693
|
15.130 |
17.740 |
|
|
Cash & Bank Balances |
11.390
|
63.180 |
11.523 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
44.184
|
16.225 |
3.676 |
|
Total
Current Assets |
801.190
|
94.535 |
32.939 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
234.211
|
33.353 |
|
|
|
Other Current Liabilities |
15.599
|
3.270 |
7.696 |
|
|
Provisions |
9.852
|
5.061 |
4.343 |
|
Total
Current Liabilities |
259.662
|
41.684 |
12.039 |
|
|
Net Current Assets |
541.528
|
52.851 |
20.900 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
Incidental Expenses Pending Capitalization Allocation |
0.000 |
85.074 |
28.454 |
|
|
|
|
|
|
|
|
TOTAL |
2981.406 |
1877.033 |
936.420 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
251.706 |
0.000 |
0.000 |
|
|
|
Management and Marketing Consultancy Income |
68.922 |
52.937 |
17.671 |
|
|
|
Other Income |
90.870 |
5.154 |
0.293 |
|
|
|
TOTAL (A) |
411.498 |
58.091 |
17.964 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials |
93.241 |
0.000 |
0.000 |
|
|
|
Employee Costs |
77.635 |
33.250 |
10.969 |
|
|
|
Operating and other expenses |
102.095 |
7.693 |
4.835 |
|
|
|
TOTAL (B) |
272.971 |
40.943 |
15.804 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
138.527 |
17.148 |
2.160 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
46.855 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
91.672 |
17.148 |
2.160 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
49.910 |
0.465 |
0.054 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
41.762 |
16.683 |
2.106 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
27.795 |
5.631 |
1.621 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
13.967 |
11.052 |
0.485 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
11.536 |
0.484 |
0.000 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
25.503 |
11.536 |
0.485 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Management Consultancy Income |
48.540 |
39.461 |
17.671 |
|
|
|
Marketing Consultancy Income |
20.382 |
13.477 |
0.000 |
|
|
TOTAL EARNINGS |
68.922 |
52.938 |
17.671 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
564.861 |
0.000 |
NA |
|
|
|
Stores & Spares |
2.128 |
0.000 |
NA |
|
|
|
Capital Goods |
369.946 |
215.299 |
NA |
|
|
TOTAL IMPORTS |
936.935 |
215.299 |
NA |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
1.05 |
1.01 |
0.25 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
3.39 |
19.02 |
2.69 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
16.59 |
31.51 |
11.91 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.63 |
9.73 |
5.21 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.03 |
0.01 |
0.00 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.08 |
0.25 |
0.01 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
3.09 |
20.27 |
2.74 |
LOCAL AGENCY FURTHER INFORMATION
Note
The registered office of the company has been shifted from 5th
Floor, Peninsula Chambers, Peninsula Corp Park, G K Marg, Lower Parel, Mumbai –
400013,
Fixed Assets :
- Buildings
- Plant and
Machinery
- Electrical
Installation
- Leasehold
Improvements
- Computer
Hardware
- Computer
Software
- Office
Equipments
- Furniture and
Fixtures
- Vehicles
Operations
The company has not commenced production activities during the year.
However it has rendered Management Consultancy Services and Marketing
Consultancy Services to Alliance Tire Company (1992) Limited,
Bankers Charges
Report as per Registry
|
This form is for |
Modification of
charge |
|
Charge
identification number of the modified |
10136380 |
|
Corporate
identity number of the company |
U25111MH2007PTC172456 |
|
Name of the
company |
ATC TIRES PRIVATE LIMITED |
|
Address of the registered
office or of the principal place of
business in |
105, Creative Industrial Estate, 72, N.M. Joshi Marg, Mumbai -
400092 |
|
Type of charge |
Immovable
Property |
|
Particular of
charge holder |
CIN : L65110GJ1993PLC020769 Axis Bank Limited Dhiraj Baugh, LBS Marg, Near E-mail : kulkarni.makarand@axisbank.com
|
|
Nature of description
of the instrument creating or modifying the charge |
No instrument was
executed but a mortgage was created by deposit of title deeds with Axis Bank
Limited, in its capacity as Security Trustee for the facilities sanctioned to
the company aggregating Rs.2564.400 Millions by Axis Bank Limited,
Corporation bank, Export Import Bank of |
|
Date of
instrument Creating the charge |
24.11.2009 |
|
Amount secured by
the charge |
Rs.3564.400
Millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest 11.75% (Floating)
per annum payable monthly Terms of
Repayment Term Loan : Loan
shall be repayable in 24 unequal quarterly installments with first repayment
commencing from June 30, 2011 and last installment on March 31, 2017 Working Capital
Loan : On Demand/One Year Margin : Term Loan :
39.09% Working Capital :
25% Extent and
Operation of the charge See Attachment |
|
Short particulars
of the property charged |
|
|
Date of Last
Modification |
23.11.2009 |
|
Particulars of the
present modification |
An equitable
mortgage on second pari passu charge basis for the working Capital facilities
availed by the Company aggregating Rs.1000.000 Millions from Axis Bank,
Export Import Bank of India and The Karur Vysya Bank Limited |
Company
Profile
In July 2007, Alliance Tire Group was acquired by Mahansaria family of
which is a leading Private Equity investor since 1971. Warburg Pincus LLC has invested USD 29 Billion in 600
companies in 30 countries.
manufacturing plant spread over 115 acres at SEZ in
Tirunelveli, Tamil Nadu,
being managed by talented Professional Managers comprising of Indians, Europeans, Israelis, North Americans
and Latin Americans. The group has wide distribution network with distributors in 90 countries across the globe
and own offices at Europe, North America, Latin America,
The Alliance Tire Group has signed an agreement in October 2009 to purchase
certain assets from GPX International Tire Corporation (GPX).
The combination of the
highly flexible global sourcing platform that is capable of providing competitive products in all segments of the off-
the-road tire industry in
They are now in the process of inducting talented professionals at all levels
to support the rapid growth of Group
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.44.58 |
|
|
1 |
Rs.71.75 |
|
Euro |
1 |
Rs.64.80 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--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.