1. Summary Information
|
|
|
Country |
|
|
Company Name |
AGILE ELECTRIC TECHNOLOGIES PRIVATE LIMITED |
Principal Name 1 |
Mr. P. Mukund |
|
Status |
Satisfactory |
Principal Name 2 |
Mr. Mohria Kishan Kewal |
|
|
|
Registration # |
18-054140 |
|
Street Address |
Plot B-16, Mez- Sez, Phase II, Tambaram, Chaderpur-600 045, Tamil
Nadu, |
||
|
Established Date |
03.09.2004 |
SIC Code |
-- |
|
Telephone# |
91-44-52189189 |
Business Style 1 |
Service provider |
|
Fax # |
91-44-22628143 |
Business Style 2 |
- |
|
Homepage |
- |
Product Name 1 |
Prototype Development |
|
# of employees |
- |
Product Name 2 |
Testing |
|
Paid up capital |
Rs.41,000,000/- |
Product Name 3 |
- |
|
Shareholders |
Bodies Corporate-100% |
Banking |
-- |
|
Public Limited Corp. |
NO |
Business Period |
7 years |
|
IPO |
NO |
International Ins. |
- |
|
Public |
NO |
Rating |
Ba (46) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
CEO |
|
Associates
|
India |
Igarashi Motor India Limited |
- |
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2010 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
126,568,000 |
Current Liabilities |
76,450,000 |
|
Inventories |
22,078,000 |
Long-term Liabilities |
21,405,000 |
|
Fixed Assets |
207,439,000 |
Other Liabilities |
13,241,000 |
|
Deferred Assets |
-- |
Total Liabilities |
111,096,000 |
|
Invest& other Assets |
-- |
Retained Earnings |
203,989,000 |
|
|
|
Net Worth |
244,989,000 |
|
Total Assets |
356,085,000 |
Total Liab. & Equity |
356,085,000 |
|
Total Assets (Previous Year) |
68,639,000 |
|
|
|
P/L Statement as of |
31.03.2010 |
(Unit: Indian Rs.) |
|
|
Sales |
154,064,000 |
Net Profit |
9,653,000 |
|
Sales(Previous yr) |
143,432,000 |
Net Profit(Prev.yr) |
1,300,000 |
MIRA
INFORM REPORT
|
Report Date : |
12.03.2011 |
Note : The correct name of the company is AGILE ELECTRIC
TECHNOLOGIES PRIVATE LIMITED.
IDENTIFICATION DETAILS
|
Name : |
AGILE ELECTRIC TECHNOLOGIES PRIVATE LIMITED |
|
|
|
|
Registered Office : |
Plot B-16, Mez- Sez, Phase II, Tambaram, Chaderpur-600 045, Tamil
Nadu |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.03.2010 |
|
|
|
|
Date of Incorporation : |
03.09.2004 |
|
|
|
|
Com. Reg. No.: |
18-054140 |
|
|
|
|
CIN No.: [Company
Identification No.] |
U31102TN2004PTC054140 |
|
|
|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
CHEI05035C |
|
|
|
|
PAN No.: [Permanent
Account No.] |
AABC2715E |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business : |
To Provide Product and process technology including design, Prototype
Development, Testing, Validation with respects to Motors, Transformers its
Application and Modules. |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (46) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 970000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
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|
Litigation : |
Clear |
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|
|
|
Comments : |
Subject is an established company having satisfactory track. Trade
relations are 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 – 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 : |
Plot B-16, Mez- Sez, Phase II, Tambaram, Chaderpur-600 045, Tamil
Nadu, India |
|
Tel. No.: |
91-44-52189189 |
|
Fax No.: |
91-44-22628143 |
|
E-Mail : |
|
|
|
|
|
|
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|
Corporate Office : |
Plot No. A-33 and 36 (First Floor), Mez- Sez, Tambaram, Chaderpur-600
045, Tamil Nadu, India |
|
Tel. No.: |
91-44-22628196 |
|
Fax No.: |
91-44-22628196 |
|
E-Mail : |
DIRECTORS
As On : 16.09.2010
|
Name : |
Mr. P. Mukund |
|
Designation : |
Directors |
|
Address : |
No. 207/ 2 Old No. 93/2 TTK Road, Alwarpet, Chennai- 600 018, Tamil
Nadu, India |
|
Date of Birth/Age : |
14.05.1959 |
|
Date of Appointment : |
26.09.2008 |
|
DIN No : |
00007788 |
|
|
|
|
Name : |
Mr. Nohria Kishan Kewal |
|
Designation : |
Directors |
|
Address : |
11, Aryavrat,351, Narayan Dabholakar Road, Mumbai- 400 006,
Maharashtra, India |
|
Date of Birth/Age : |
04.10.1932 |
|
Date of Appointment : |
26.09.2008 |
|
DIN No : |
00060015 |
|
|
|
|
Name : |
Mr. Tadaharu Igarashi |
|
Designation : |
Directors |
|
Address : |
3, Konyamachi, Saiwai Ku, Kawasaki, Japan |
|
Date of Birth/Age : |
28.09.1941 |
|
Date of Appointment : |
26.09.2008 |
|
|
|
|
Name : |
Mr. Keiichi Igarashi |
|
Designation : |
Directors |
|
Address : |
Block “A”, 3rd Floor, Shuiki INDL Building,18, Wongchuk,
Hangroad, Aberdeen, Hongkong |
|
Date of Birth/Age : |
24.06.1966 |
|
Date of Appointment : |
26.09.2008 |
|
DIN No : |
00356779 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 16.09.2010
|
Names of Shareholders |
|
No. of Shares |
|
Agile Electric Drives Technologies And Holdings Private Limited,
India |
|
4099900 |
|
R Chandrasekaran Nominee of Agile Electric Drives Technologies And
Holdings Private Limited, India |
|
100 |
|
Total |
|
4100000 |
AS ON 16.09.2010
|
Equity Share
Breakup |
|
Percentage of
Holding |
|
Category |
|
|
|
Bodies corporate |
|
100.00 |
|
|
Total
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
To Provide Product and process technology including design, Prototype
Development, Testing, Validation with respects to Motors, Transformers its
Application and Modules. |
||||
|
|
|
||||
|
Product : |
|
PRODUCTION STATUS (As On : 31.03.2010)
|
Particulars |
|
Unit |
Installed
Capacity |
Actual
Production |
|
Shaft |
|
Nos |
7200000 |
5128214 |
|
Collar |
|
Nos |
1800000 |
1173525 |
GENERAL INFORMATION
|
Bankers : |
Not Divulged |
||||||||||||
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||||||||||||
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Facilities : |
|
|
Banking
Relations : |
-- |
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|
|
|
Financial Institute : |
SICOM Limited, “Nirmal”, 1st Floor, Nariman Point, Mumbai-400021,
Maharashtra, India |
|
|
|
|
Auditors : |
|
|
Name : |
L Vaidyanathan Chartered Accountant |
|
Address : |
Parsn Manere, A-Wing, 3rd Floor, 602, Anna Salai,
Chennai-600006, Tamil Nadu, India |
|
|
|
|
|
|
|
Holding Company : |
Agile Electric Drives Technologies and Holding Private Limited CIN No :U31102TN2003PTC052057 |
|
|
|
|
Fellow Subsidiaries : |
v Agile Electric
Sub Assembly Private Limited v Igarashi Motor
Sales Private Limited |
|
|
|
|
Associates : |
v Igarashi Motor India
Limited v IJT Tools and
Plastics Private Limited |
CAPITAL STRUCTURE
As On : 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5000000 |
Equity Shares |
Rs. 10/- each |
Rs. 50.000 millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4100000 |
Equity Shares |
Rs. 10/- each |
Rs. 41.000
millions |
|
|
|
|
|
Note : The entire equity shares are held by the
holding company- Agile Electric Drives Technologies and Holdings Private
Limited
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 |
41.000 |
41.000 |
41.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
203.989 |
194.337 |
193.038 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
244.989 |
235.337 |
234.038 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
21.405 |
36.601 |
0.000 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
21.405 |
36.601 |
0.000 |
|
|
DEFERRED TAX LIABILITIES |
13.241 |
8.495 |
2.404 |
|
|
|
|
|
|
|
|
TOTAL |
279.635 |
280.433 |
236.442 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
207.439 |
223.099 |
62.687 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
179.951 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
22.078
|
31.580
|
19.729 |
|
|
Sundry Debtors |
61.086
|
12.414
|
17.060 |
|
|
Cash & Bank Balances |
4.534
|
9.121
|
14.146 |
|
|
Other Current Assets |
0.101
|
0.241
|
0.000 |
|
|
Loans & Advances |
60.847
|
43.768
|
4.067 |
|
Total
Current Assets |
148.646
|
97.124 |
55.002 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
34.005
|
32.130 |
43.468 |
|
|
Other Current Liabilities |
41.704
|
7.152
|
17.461 |
|
|
Provisions |
0.741
|
0.506
|
0.269 |
|
Total
Current Liabilities |
76.450
|
39.788 |
61.198 |
|
|
Net Current Assets |
72.196
|
57.334
|
(6.196) |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
279.635 |
280.433 |
236.442 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Sales and Service |
154.064 |
143.432 |
40.702 |
|
|
|
Royalty Income |
0.000 |
11.411 |
14.815 |
|
|
|
Interest Income |
0.258 |
0.430 |
0.155 |
|
|
|
TOTAL (A) |
154.322 |
155.273 |
55.672 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Materials and Manufacturing Expenses |
90.053 |
97.086 |
30.673 |
|
|
|
Staff Expenses |
20.253 |
19.259 |
10.731 |
|
|
|
Selling and Administration Expenses |
9.848 |
11.949 |
6.984 |
|
|
|
TOTAL (B) |
120.154 |
128.294 |
48.388 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
34.168 |
26.979 |
7.284 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
5.155 |
2.836 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
29.013 |
24.143 |
7.284 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
14.067 |
16.254 |
3.963 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
14.946 |
7.889 |
3.321 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
5.293 |
6.589 |
3.424 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
9.653 |
1.300 |
(0.103) |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
5.338 |
4.038 |
4.141 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
14.991 |
5.338 |
4.038 |
|
|
|
|
|
|
|
|
|
|
EXPORT VALUE |
|
|
|
|
|
|
|
Export Earnings |
97.179 |
133.344 |
0.000 |
|
|
|
Service Income |
6.223 |
20.823 |
3.527 |
|
|
TOTAL EARNINGS |
103.402 |
154.167 |
3.527 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
20.773 |
26.553 |
0.000 |
|
|
|
Stores & Spares |
13.362 |
20.483 |
0.000 |
|
|
|
Equipment |
0.009 |
0.000 |
0.000 |
|
|
|
Capital Goods |
0.000 |
0.483 |
0.000 |
|
|
TOTAL IMPORTS |
34.144 |
47.519 |
0.000 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
2.35 |
0.32 |
(0.05) |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
6.26
|
0.84
|
(0.19) |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
9.70
|
5.50
|
8.16 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
4.20
|
2.46
|
2.82 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.06
|
0.03
|
0.01 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.45
|
0.32
|
0.26 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.94
|
2.44
|
0.90 |
LOCAL AGENCY FURTHER INFORMATION
Note:
The situation of the registered office of the company was
changed from Plot
No. A-33 and A-36 Phase II, Mez- Sez, Tambaram, Chaderpur-600 045, Tamil nadu,
BUSINESS REVIEW
During the year,
the Company has provided 4 manufacturing lines for Bosch which made the Company
popular among Bosch manufacturing centers in the World especially in Spain,
Thailand, Germany and Mexico. The Company started receiving request for quotes
from these units. In the next 3 years the Company expects to receive
100.000-200.000 millions order from Bosch for Machine Building Line. There is a
scope for good potential in the future. During the year, the Company ventured
into design and development of AC Motors. The Company developed two motor
variants of 1 / 3 HP and 1 / 4 HP for Electrolux. These motors are tested in US
and has met all the requirements of the customers, The Company plans to start
production of AC Motors during June’2011. The potential business for AC motor
would be around 150 crores within a period of next 3 years.
The Company is also developing motors for
Refrigerators for which Tecumseh and Videocon are the target customers
During the year,
the Company got approval for making Worm Shafts for IFB. The volume of shafts
is in the range of 500.000-1000.000 millions per month. Discussions are in
progress with Bosch, PMP automation and Mitsuba for shaft business. There is a
great scope for this business to expand in the next couple of years.
FORM 8
|
Corporate
identity number of the company |
U31102TN2004PTC054140 |
|
Name of the
company |
AGILE ELECTRIC TECHNOLOGIES PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
Plot B-16, Mez- Sez, Phase II, Tambaram, Chaderpur-600 045, Tamilnadu,
India |
|
This form is for |
Modification of charge |
|
Type of charge |
Immovable property Movable property (not being pledge) Others |
|
Particular of
charge holder |
SICOM Limited, “Nirmal”, 1st Floor, Nariman Point,
Mumbai-400021, Maharashtra, India |
|
Nature of instrument
creating charge |
Memorandum
of Entry dated 3rd September 2010 Loan
of Rs.150.000 millions to Agile Electric Sub Assembly Private Limited (group
Company) |
|
Date of
instrument Creating the charge |
03.09.2010 |
|
Amount secured by
the charge |
Rs.150.000 millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of interest Interest
shall be charged @3.25% above SICOM's Medium Term Reference Rate (which at
present is 11.75% p.a) Terms of
repayment The loan
shall be repayable in a 20 monthly installments of Rs.7.500 millions each
after a moratorium of 4 months from the date of disbursement of the loan. Margin Cash
deposit of Rs.22.500 millions with SICOM for the entire tenure of the loan
and create lien thereon in favour of SICOM. Extent and
operation of the charge First
pari passu charge by way of hypothecation on the movable assets of the
Company at Plot No. 16, Phase II, MEPZ-SEZ, Tambaram, Chennai 600045 to
secure the loan of Rs.150.000 millions to Agile Electric Sub Assembly Private
Limited. |
|
Short particulars
of the property charged (Including location of the property) |
Pari
passu mortgage charge on building and superstructure constructed at Plot No.
B16, Phase II, MPEZ, Tambaram, Chennai 600045 |
|
Charge
identification number of the charge to be modified |
10220541 |
|
Particulars of
the present modification |
Memorandum
of Entry dated 3rd September 2010. Mortgage
on the building / superstructure, constructed or to be constructed / accretions
situated on the factory land at Plot No. B16, Phase II, MEPZ, Tambaram,
Chennai 600045 |
Fixed Assets:-
v Building
v Plant and Equipment
v Furniture and Fixture
v Vehicles
v Computer software
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.45.21 |
|
|
1 |
Rs.72.55 |
|
Euro |
1 |
Rs.62.43 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
46 |
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.