MIRA
INFORM REPORT
|
Report Date : |
15.06.2011 |
IDENTIFICATION DETAILS
|
Name : |
ABIR INFRASTRUCTURE PRIVATE LIMITED |
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Registered
Office : |
SF-2, Bhikaji Cama Bhawan, Bhikaji Cama Place, New Delhi -110066,
Delhi |
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Country : |
India |
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Financials (as
on) : |
31.03.2010 |
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Date of
Incorporation : |
16.08.2005 |
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Com. Reg. No.: |
55-139695 |
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Capital Investment
/ Paid-up Capital : |
Rs.150.000 millions |
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CIN No.: [Company Identification
No.] |
U45201DL2005PLC139695 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
DELA16782D |
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PAN No.: [Permanent Account No.] |
AAFCA3608N |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Engaged in the construction of Civil and Structural Works for Hydro
Power Projects including Roads, Bridges etc. |
RATING & COMMENTS
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MIRA’s Rating : |
Ba (52) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 5200000 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a well established company having fine track. Financial
position of the company appears to be sound. Trade relations are reported as fair.
Business is active. Payments are reported to be 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 – April 1, 2010
|
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 |
LOCATIONS
|
Registered Office : |
SF-2, Bhikaji Cama Bhawan, Bhikaji Cama Place, New Delhi -110066,
Delhi, India |
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Tel. No.: |
91-124-4630809 |
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Fax No.: |
91-124-4630888 |
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E-Mail : |
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Website : |
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Factory : |
143-144 Udyog Vihar Phase IV, Gurgaon – 122015, India |
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Tel. No.: |
91-124-4630800 |
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Fax No.: |
91-124-4630888 |
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E-Mail: |
DIRECTORS
AS ON 07.09.2010
|
Name : |
Mr. Simon Ptahros Matthai |
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Designation : |
Whole Time Director |
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Address : |
16, Lodi Estate, New Delhi – 110003, Delhi, India |
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Date of Birth/Age : |
23.09.1943 |
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Date of Appointment : |
29.09.2008 |
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Din No.: |
02159553 |
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Name : |
Mr. Rajesh Tummala Chandra |
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Designation : |
Whole Time Director |
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Address : |
401, Kanwar Rani, Place 4th Floor, Methodiest Colony,
Begumpet, Hyderabad - 500016, Andhra Pradesh, India |
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Date of Birth/Age : |
15.01.1941 |
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Date of Appointment : |
17.08.2009 |
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Date of Ceasing : |
12.06.2010 |
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Name : |
Mr. Kannaih Ramalingam |
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Designation : |
Director |
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Address : |
8-2-120/86/3, Plot No., 9A Krishna Sindhu Residency Road No.3, Banjara
Hills, Hyderabad – 500034, Andhra Pradesh, India |
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Date of Birth/Age : |
10.12.1948 |
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Date of Appointment : |
10.08.2010 |
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Din No.: |
00130375 |
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Name : |
Mr. Satish Kumar Gupta |
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Designation : |
Secretary |
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Address : |
Flat No.101, Vamsirishi, H.No.6-3-865/B, Green Lands, X-Rds, Ameerpet,
Hyderabad – 500004, Andhra Pradesh, India |
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Date of Birth/Age : |
10.02.1958 |
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Date of Appointment : |
01.06.2009 |
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Pan No.: |
AAKPG3556B |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 07.09.2010
|
Names of Shareholders (Equity Shareholder ) |
|
No. of Shares |
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Butchibabu Y Y, Hyderabad |
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1561412 |
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M/s. Themis Engineers and Private Limited, Hyderabad |
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4900000 |
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M/s. Triple A Infrastructure Private Limited (Formerly Known as Cobalt
Developers Private Limited ), Hyderabad |
|
3538588 |
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|
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Total |
|
10000000 |
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Names of
Shareholders (Preference Shareholder ) |
|
No.
of Shares |
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M/s. Themis Engineering and Private Limited, Hyderabad |
|
5000000 |
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|
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Total |
|
5000000 |
AS ON 07.09.2010
|
Category |
Percentage |
|
Foreign holdings( Foreign institutional investor(s),
Foreign companie(s) Foreign financial institution(s), Non-resident Indian(s)
or Overseas Corporate bodies or Others |
15.61 |
|
Bodies corporate |
84.39 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Engaged in the construction of Civil and Structural Works for Hydro
Power Projects including Roads, Bridges etc. |
GENERAL INFORMATION
|
Bankers : |
·
HDFC Bank Limited, HDFC Bank House, Senapati Bapat
Marg, Lower Power W, Mumbai – 400013, Maharashtra, India ·
Kotak Mahindra Bank Limited, 36-38A, Nariman
Bhavan, 227D, Nariman Point, Mumbai – 400021, Maharashtra, India |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Monahar Chowdhary and Associates Chartered Accountant |
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Address : |
A-19, PWO Housing Complex, Sector – 43, Gurgaon – 122001, Haryana,
India |
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Subsidiary Companies : |
·
Abir Renewable Energy Private Limited
(incorporation 2nd July, 2008) CIN No.: U40101DL2008PTC180368 ·
Abir Hydro Power Private Limited (Incorporation 7th
October, 2008) CIN No.: U40300DL2008PTC184050 ·
Abir Power Trading Private Limited (Incorporation
19th December, 2008) CIN No.: U40104DL2008PTC185987 ·
Abir Aviation Private Limited CIN No.: U63010DL2010PTC206930 |
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Associates : |
·
Everest Infratech Management Services and Trading
Private Limited |
CAPITAL STRUCTURE
AS ON 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
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|
10000000 |
Equity Shares |
Rs.10/- each |
Rs.100.000 Millions |
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|
|
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|
5000000 |
Preference Shares |
Rs.10/- each |
Rs.50.000
Millions |
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|
|
|
|
|
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Total |
|
Rs.150.000
millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000000 |
Equity Shares |
Rs.10/- each |
Rs.100.000 Millions |
|
|
|
|
|
|
5000000 |
Preference Shares |
Rs.10/- each |
Rs.50.000
Millions |
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|
|
|
|
|
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Total |
|
Rs.150.000
millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
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|
SHAREHOLDERS FUNDS |
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|
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1] Share Capital |
150.000 |
130.694 |
43.618 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
1152.518 |
538.844 |
173.427 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
1302.518 |
669.538 |
217.045 |
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|
LOAN FUNDS |
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1] Secured Loans |
994.931 |
515.355 |
507.120 |
|
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2] Unsecured Loans |
0.000 |
52.133 |
681.243 |
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TOTAL BORROWING |
994.931 |
567.488 |
1188.363 |
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DEFERRED TAX LIABILITIES |
45.015 |
22.444 |
18.946 |
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TOTAL |
2342.464 |
1259.470 |
1424.354 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
1268.256 |
987.347 |
820.544 |
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Capital work-in-progress |
18.861 |
4.529 |
4.800 |
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|
|
|
|
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INVESTMENT |
155.353 |
5.212 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
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Inventories |
1535.616
|
207.206 |
303.025 |
|
|
Sundry Debtors |
1667.774
|
786.554 |
717.926 |
|
|
Cash & Bank Balances |
310.085
|
369.240 |
188.970 |
|
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Other Current Assets |
6.520 |
2.029 |
375.943 |
|
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Loans & Advances |
4205.673 |
5043.362 |
2834.155 |
|
Total
Current Assets |
7725.668
|
6408.391 |
4420.019 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
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Other Current Liabilities |
6503.947
|
5937.741 |
3745.893 |
|
|
Provisions |
321.727
|
208.268 |
75.121 |
|
Total
Current Liabilities |
6825.674
|
6146.009 |
3821.014 |
|
|
Net Current Assets |
899.994
|
262.382 |
599.005 |
|
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|
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|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.005 |
|
|
|
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|
|
|
|
TOTAL |
2342.464 |
1259.470 |
1424.354 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2009 |
31.03.2008 |
31.03.2007 |
|
|
|
SALES |
|
|
|
|
|
|
|
Construction revenues |
8773.916 |
6120.244 |
2401.175 |
|
|
|
Aviation Income |
72.770 |
30.440 |
0.000 |
|
|
|
Other Income |
53.658 |
82.777 |
93.286 |
|
|
|
TOTAL (A) |
8900.344 |
6233.461 |
2494.461 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Construction Costs |
7085.899 |
4784.719 |
2063.063 |
|
|
|
Personnel Overheads |
363.065 |
309.696 |
175.293 |
|
|
|
Administrative and Other Expenses |
274.494 |
336.907 |
206.679 |
|
|
|
Increase / Decrease in Stock |
0.000 |
0.000 |
(269.700) |
|
|
|
TOTAL (B) |
7723.458 |
5431.322 |
2175.335 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
1176.886 |
802.139 |
319.126 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
112.717 |
130.794 |
52.655 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
1064.169 |
671.345 |
266.471 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
128.119 |
102.909 |
39.930 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
936.050 |
568.436 |
226.541 |
|
|
|
|
|
|
|
|
|
Less |
TAX (I) |
613.675 |
362.649 |
138.410 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-I) (J) |
322.375 |
205.787 |
88.131 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
338.844 |
23.427 |
58.298 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
300.000 |
50.000 |
170.512 |
|
|
|
Dividend |
0.000 |
(2.365) |
0.402 |
|
|
|
Tax on Dividend |
0.000 |
(0.402) |
2.365 |
|
|
BALANCE CARRIED
TO THE B/S |
652.518 |
338.844 |
23.427 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Aviation Business |
NA |
12.125 |
Nil |
|
|
|
Other Earnings |
NA |
22.795 |
Nil |
|
|
TOTAL EARNINGS |
NA |
34.920 |
Nil
|
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Stores & Spares |
NA |
564.381 |
0.179 |
|
|
|
Capital Goods |
NA |
2.497 |
2.586 |
|
|
|
Advance to Supplier |
NA |
267.900 |
203.299 |
|
|
TOTAL IMPORTS |
NA |
834.778 |
206.064 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
113.53 |
83.74 |
38.20 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
3.62
|
3.30 |
3.53 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
10.66
|
434.93 |
519.37 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
10.40
|
7.68 |
4.32 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.71
|
0.09 |
1.04 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
6.00
|
10.87 |
23.07 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.13
|
1.04 |
1.15 |
LOCAL AGENCY FURTHER INFORMATION
Note : The registered
office address of the company has been shifted from H-1, BK Dutt Colony Lodhi
Ropad, New Delhi, Delhi, India to present address w.e.f. 15.01.2007.
PERFORMANCE REVIEW :
The Revenue of the company rose from Rs.
6233.462 millions in F.Y. 2008-09 to Rs. 8900.345 millions in F.Y. 2009-10. The
Earning Before Interest, depreciation and Tax (EBIDTA) Increased from Rs.
796.933 millions in F.Y. 2008-09 to Rs. 1176.886 millions in F.Y. 2009-10.
The Profit before Tax (PBT) has increased from
Rs. 568.437 millions in F.Y. 2008-09 to Rs. 936.049 millions in F.Y. 2009-10
and profit after Tax (PAT) has increased from Rs. 362.649 millions in F.Y.
2008-09 to Rs. 613.674 millions in F.Y. 2009-10.
Form : 8
|
Corporate identity number of the company |
U45201DL2005PTC139695 |
|
Name of the company |
ABIR INFRASTRUCTURE PRIVATE LIMITED |
|
Address of the registered office or of the
principal place of business in |
SF-2 Bhikaji Cama Bhawan, Bhikaji Cama
Place, New Delhi – 110066, Delhi, India |
|
This form is for |
Creation of charge |
|
Type of charge |
Immovable property Book debts Others |
|
Particular of charge holder |
State Bank Of Hyderabad, Mahaboobgunj Branch,
Siddiamber Bazar, Hyderabad – 500012, Andhra Pradesh, INDIA |
|
Nature of instrument creating charge |
Pari Passu 1st Charge on Entire Stocks,
Receivables And Other Current Assets With Other Member Banks In The
Consortium 1. Section of Credit Facilities 2. Letter Regarding The Grant of
Individual Limits Within The Overall Limit Dt: 21.04.2011 3. Agreement For Loan For Overall Limit
Dt: 21.04.2011 4. Agreement of Hypothecation of Goods And
Assets 5. Letter of State Bank of India, IFB,
Hyderabad Regarding First Pari Passu Charge |
|
Date of instrument Creating the charge |
21.04.2011 |
|
Amount secured by the charge |
Rs. 1000.000 millions |
|
Brief of the principal terms an conditions
and extent and operation of the charge |
Rate
of interest 4.5% Above The Base Rate Terms
of repayment Repayable On Demand Margin Raw Materials 25% Stocks-In-Process (Sip) 25% Finished Goods NA Receivables
25% Bg For Disputed Tax Liability 100% Bank Guarantee-Bid Bonds 2.50% Bank Guarantee 10% Letter Of Credit (Lc) 10% Cover Period For Receivables 90 Days Extent
and operation of the charge Pari Passu 1st Charge on Entire Stocks,
RECEIVABLES AND Other Current Assets Other
NA |
|
Short particulars of the property charged
(Including location of the property) |
1.78.85 Acres of Agricultural Land Bearing
SY.NOS.942/1,943/1,1393,1394,1395,1397,1398,1399,1400,1404,1408,1988 At
Uutuku Village Post, Vidavalur Mandal, Nellore, Andhra Pradesh 2.7 Acres of Agricultural Land Bearing Sy.
Nos.942/3,1388 At Uutuku Village Post, Vidavalur Mandal, Nellore, Andhra
Pradesh |
FIXED ASSETS :
·
Land
·
Building
·
Leasehold Property
·
Construction
·
Equipments
·
Other Equipments
·
Furniture and Fixtures
·
Office Equipments
·
Motor Vehicles
·
Boat
·
Software
AS PER WEBSITE DETAILS :
Mr. R. Jayamani
Director(Operations)
Mechanical Engineer from Jabalpur University. He has over 37
years of experience and has held key positions in organizations like National
Fertilizers Limited and Rashtriya Chemicals and Fertilizers (RCF). His prior
assignment was with a joint venture Company of Gammon Infraprojects Limited as
CEO. He was associated with RCF as an Executive Director and with National
Fertilizers as a Director (Technical).
Mr. D.D. Pradhan
Director
(Business Development)
He has over 35 years of rich and varied experience in Energy
and Power sector. He joined as Assistant Engineer and retired as Principal
Chief Engineer-cum-Secretary (Energy and Power Department, Govt of Sikkim) and
member of Planning Commission in Sikkim.
Brig (Retd) Iqbal Siddiqui
Executive
Director
Civil Engineering Graduate (Hons) from Jabalpur University,
Msc (Ph'Engineering) from ITC Netherlands and Mphil (CA) from University
of Roorkee. Held important posts in Army namely, Asstt. Surveyor General, Director
Planning SOI. Was the visiting faculty (on Deputation) to IIT, Kanpur for
UG and M Tech courses. Director, International indian school, Jeddah under
patronage of the Embassy of India in Saudi Arabia. Director of a govt of India
aided Survey and Building Construction Projects in Bhutan. Has also served
as the Principal of the Oriental Institute of Science and Technology in Bhopal.
Mr. Rajesh Prathipati
Executive
Director (Business Development)
14 years experience in Power, Banking, Oil and Gas sector in
Europe and India. Expertise in Monitoring and Execution of operation,
maintenance and bidding Projects .Expertise in Banking – project loans,
rig-financing – associated with Barclays, BZW Bank and Goldman Sachs Investment
Banking
Mr. Y. V. Rao
Chief
Financial Officer
Mr. Y.V. Rao, CFO has over 32 years of rich and varied
experience in F and A and commercial activities of Construction /
Infrastructure, Power, Oil and Gas, Petroleum and Telecommunication industry.
Which includes Multinational Companies, Public Sector Oil and Power Companies
and closely held Public Limited Companies
PROJECT HEADS
Mr. B.N.Singh
AGM
Malana (HEP)
Has over 22 years of experience in planning, scheduling,
execution, control, resource planning site management and liaisoning work of
various Industrial building and HE Projects. Was associated with Jai Prakash
Industries Limited. since the last 7 years and was involved in the
execution works of Infrastructure, Head Race Tunnel and Dams.
Mr. Naveen Kumar
Sainj
(HEP)
Mechanical Engineer with more than 10 years of experience in
various types of Hydropower Projects, Maintenance and Up keep of constructions
and equipments, etc.
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. 44.87 |
|
|
1 |
Rs. 72.82 |
|
Euro |
1 |
Rs. 64.37 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
52 |
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.