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MIRA
INFORM REPORT
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Report Date : |
15.03.2011 |
IDENTIFICATION DETAILS
|
Name : |
J J IMPEX ( |
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Formerly Known
As : |
J J IMPEX ( |
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Registered
Office : |
F-39 Okhla Industrial Area, Phase-II, New Delhi-110020 |
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Country : |
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Financials (as
on) : |
31.03.2010 |
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Date of
Incorporation : |
30.06.1976 |
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Com. Reg. No.: |
55-008245 |
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CIN No.: [Company Identification
No.] |
U74140DL1976PTC008245 |
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Legal Form : |
Private Limited Liability Company. |
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Line of Business
: |
Servicing of Vehicles and |
RATING & COMMENTS
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MIRA’s Rating : |
B (33) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
USD 450000 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow but Correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate track. Trade
relations are reported as fair. Business is active. Payments are reported to
be slow but correct. The company can be considered for small to mediocre 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 |
INFORMATION DECLINED BY
|
Name : |
Mr. Jagmohan |
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Designation : |
Accounts Department |
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Date : |
14.03.2011 |
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Name : |
Mr. Rangarajan |
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Designation : |
Key Executive |
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Date : |
14.03.2011 |
LOCATIONS
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Registered Office : |
F-39 Okhla Industrial Area, Phase-II, New Delhi-110020, |
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Tel. No.: |
91-11-46385500 |
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Fax No.: |
91-11-26385008 |
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E-Mail : |
DIRECTORS
As on 23.04.2010
|
Name : |
Mr. Achyutanand Choudhary |
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Designation : |
Whole time Director |
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Address : |
A 61, Ground Floor, |
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Date of Birth/Age : |
07.02.1953 |
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Date of Appointment : |
01.09.2005 |
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DIN No.: |
01210293 |
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Name : |
Mr. Gautam Bose |
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Designation : |
Nominee Director |
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Address : |
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Date of Birth/Age : |
03.07.1966 |
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Date of Appointment : |
21.04.2008 |
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DIN No.: |
01501107 |
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Name : |
Mr. Pankaj Narula |
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Designation : |
Nominee Director |
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Address : |
72 Narmada Apartment, Alkanand, New Delhi-110019, |
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Date of Birth/Age : |
02.09.1956 |
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Date of Appointment : |
20.09.2007 |
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DIN No.: |
01835144 |
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Name : |
Mr. Hajime Yamaguchi |
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Designation : |
Director |
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Address : |
74, Friends Colony, New Delhi-110065, |
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Date of Birth/Age : |
25.09.1954 |
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Date of Appointment : |
25.07.2008 |
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DIN No.: |
02220950 |
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Name : |
Mr. Eiichi Seto |
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Designation : |
Nominee Director |
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Date of Appointment : |
14.09.2009 |
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DIN No.: |
02704734 |
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Name : |
Mr. Yoichi Kojima |
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Designation : |
Nominee Director |
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Address : |
Japanese Hostel, Room No. 305, Opposite MDI, Gate No. 3,
Gurgaon-122001, |
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Date of Birth/Age : |
05.11.1964 |
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Date of Appointment : |
26.03.2010 |
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DIN No.: |
02973263 |
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Name : |
Mr. Takeru Kikkawa |
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Designation : |
Nominee Director |
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Address : |
2-26-6, Okusawa, Setagaya, Tokyo-1540017, |
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Date of Birth/Age : |
28.10.1960 |
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Date of Appointment : |
14.09.2009 |
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DIN No.: |
03107280 |
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Name : |
Mr. Tatsuo Kato |
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Designation : |
Alternate Director |
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Address : |
78, Jor Bagh, |
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Date of Birth/Age : |
15.05.1961 |
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Date of Appointment : |
20.09.2007 |
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Date of Ceasing: |
14.09.2009 |
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DIN No.: |
01785885 |
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Name : |
Mr. Kazuyoshi Higuchi |
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Designation : |
Nominee Director |
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Address : |
31-11-820, Honcho Wako- Shi, |
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Date of Birth/Age : |
05.04.1954 |
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Date of Appointment : |
25.03.2004 |
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Date of Ceasing: |
14.09.2009 |
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DIN No.: |
00897945 |
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Name : |
Mr. Fujimoto Hiroto |
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Designation : |
Alternate Director |
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Address : |
S-502, Greater Kailash-I, New Delhi-110048, |
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Date of Birth/Age : |
07.04.1964 |
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Date of Appointment : |
20.09.2007 |
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Date of Ceasing: |
14.09.2009 |
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DIN No.: |
01258239 |
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Name : |
Mr. Taro Nanko |
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Designation : |
Nominee Director |
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Address : |
7-26-409, |
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Date of Birth/Age : |
28.12.1966 |
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Date of Appointment : |
20.09.2007 |
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Date of Ceasing: |
14.09.2009 |
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DIN No.: |
01879475 |
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Name : |
Mr. Toshiaki Tashiro |
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Designation : |
Nominee Director |
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Address : |
D 109, 2nd Floor, Anand Niketan, |
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Date of Birth/Age : |
25.10.1964 |
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Date of Appointment : |
19.03.2008 |
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Date of Ceasing: |
26.03.2010 |
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DIN No.: |
01960051 |
KEY EXECUTIVES
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Name : |
Mr. Jagmohan |
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Designation : |
Accounts Department |
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Name : |
Mr. Rangarajan |
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Designation : |
Key Executive |
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Name : |
Mrs. Swati Aggarwal |
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Designation : |
Secretary |
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Address : |
IV/ 2535 Lane No. 11, Behari Colony, Sahhdra, Delhi-110032, |
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Date of Birth/Age : |
02.09.1975 |
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Date of Appointment : |
01.02.2003 |
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PAN No.: |
AGGPA2039R |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 23.04.2010
|
Names of Shareholders |
|
No. of Shares |
|
Maruti Suzuki India Limited, |
|
4323750 |
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Sumitomo Corporation, |
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3443750 |
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Maruti Countrywide Auto Financial Services Private Limited, |
|
152500 |
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Sumitomo corporation India Private Limited |
|
880000 |
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Total |
|
8800000 |
Equity Share Breakup (Percentage of Total Equity)
As on 30.09.2010
|
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 |
39.13 |
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Bodies corporate |
60.87 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Servicing of Vehicles and |
GENERAL INFORMATION
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No. of Employees : |
Not Divulged by the management |
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Bankers : |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
V Sankar Aiyar and company Chartered Accountant |
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Address : |
Satyam Cinema Complex, Ranjit Nagar Community Centre, Delhi-110008, |
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Tel. No.: |
91-11-25702074/ 25702691/ 25704639/ 25705233 |
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Fax No.: |
91-11-25705010/ 25705233 |
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E-Mail : |
CAPITAL STRUCTURE
As on 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000000 |
Equity Shares |
Rs. 10/- each |
Rs. 100.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
8800000 |
Equity Shares |
Rs. 10/-
each |
Rs. 88.000
Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
88.000 |
88.000 |
88.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
25.000 |
13.473 |
3.275 |
|
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
113.000 |
101.473 |
91.275 |
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|
LOAN FUNDS |
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1] Secured Loans |
110.996 |
146.026 |
155.567 |
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2] Unsecured Loans |
0.000 |
0.000 |
2.069 |
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TOTAL BORROWING |
110.996 |
146.026 |
157.636 |
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DEFERRED TAX LIABILITIES |
1.749 |
2.623 |
0.000 |
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TOTAL |
225.745 |
250.122 |
248.911 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
150.866 |
158.782 |
168.477 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.005 |
0.005 |
0.005 |
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DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.934 |
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
46.987
|
50.508 |
58.232 |
|
|
Sundry Debtors |
43.913
|
47.789 |
39.962 |
|
|
Cash & Bank Balances |
8.402
|
7.188 |
3.983 |
|
|
Other Current Assets |
0.003
|
0.003 |
0.003 |
|
|
Loans & Advances |
21.521
|
20.128 |
22.330 |
|
Total
Current Assets |
120.826
|
125.616 |
124.510 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
21.176
|
27.259 |
37.690 |
|
|
Other Current Liabilities |
23.054
|
5.699 |
6.131 |
|
|
Provisions |
1.722
|
1.323 |
1.194 |
|
Total
Current Liabilities |
45.952
|
34.281 |
45.015 |
|
|
Net Current Assets |
74.874
|
91.335 |
79.495 |
|
|
|
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|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
225.745 |
250.122 |
248.911 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
669.658 |
574.111 |
552.904 |
|
|
|
Other Income |
37.694 |
37.974 |
43.215 |
|
|
|
TOTAL (A) |
707.352 |
612.085 |
596.119 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Purchase |
151.335 |
121.864 |
102.617 |
|
|
|
Material Consumed |
281.310 |
247.086 |
287.380 |
|
|
|
Employee Remuneration and Benefits |
110.173 |
95.883 |
82.779 |
|
|
|
Operating Expenses |
43.694 |
34.184 |
28.846 |
|
|
|
Other Expenses |
73.693 |
61.605 |
64.332 |
|
|
|
Increase/ Decrease in Stock |
2.657 |
0.573 |
[5.316] |
|
|
|
TOTAL (B) |
662.862 |
561.195 |
560.638 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
44.490 |
50.890 |
35.481 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
11.540 |
17.395 |
15.359 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
32.950 |
33.495 |
20.122 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
15.477 |
16.192 |
17.126 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
17.473 |
17.303 |
2.996 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
5.946 |
7.106 |
2.397 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
11.527 |
10.197 |
0.599 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
1.31 |
1.16 |
0.07 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
1.63
|
1.67 |
0.10 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
2.61
|
3.01 |
0.54 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
6.43
|
6.08 |
1.02 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.15
|
0.17 |
0.03 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.39
|
1.78 |
2.22 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.63
|
3.66 |
2.77 |
LOCAL AGENCY FURTHER INFORMATION
DETAILS OF SUNDRY CREDITORS
(Rs. in Millions)
|
Particulars |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
SUNDRY CREDITORS |
|
|
|
|
-Total Outstanding dues of Micro and Small
Enterprises |
0.000 |
0.000 |
0.000 |
|
- Total Outstanding dues of Creditors other
than Micro and Small Enterprises |
21.176 |
27.258 |
37.690 |
|
Total |
21.176 |
27.258 |
37.690 |
DEVELOPMENTS DURING
THE YEAR
MSM
The year 2009-2010 was the 10th year of operations of its
The Company continued to maintain its focus on providing excellent
service quality to its customers in line with the shareholders’ vision. This
can be evident from the fact that throughout the year,
The Company has taken many new initiatives to enhance customer
satisfaction and improve work environment, few of which are :
- Another Final
Inspection /
- New Scissor
Lift installed for fast rotation of jobs.
- Head Lamp
Beam Focus Checking Board installed to increase accuracy in checking and
ensure
- customer
satisfaction.
- New Tester
Line installed to facilitate service load.
- Online Oil
Dispensing system installed to save time and facilitate smooth operations.
- Safety Check
Sheet implemented to check CNG/LPG/Petrol leakage to ensure safety of vehicles
and enhance ustomer satisfaction.
- Shed
constructed at bodyshop for better work environment.
- Floor
Painting at Bodyshop done for smooth operations.
- In Value
added services, AMC (Annual Maintenance Contract) offered to customers to
facilitate them to maintain their vehicles for the whole year(s) at a
payment made annually in advance. The same was offered to customers of
The Company holds the crown for having the highest numbers of Bronze
Masters in the northern Region.
The Company’s commitment towards developing and maintaining quality
systems resulted in the successful completion of the ISO 9001: 2008
re-certification audit conducted by AIB Vincotte,
MSM
The year 2009-2010 was the 3rd year of operations of its
The Company has taken many new initiatives to enhance customer
satisfaction and improve work environment, few of which are :
- Head Lamp
Beam Focus Checking Board installed to increase accuracy in checking and
ensure ustomer satisfaction.
- Shed
constructed at Bodyshop for better work environment.
- Additional
Channel Gate Installed with both car lifts and dumbwaiter for safety.
- Line System
implemented in Bodyshop for faster rotations of vehicles and improvement
in productivity.
MSM CHENNAI
During the year, MSM Chennai undertook vigorous business promotion and
customer education activities which resulted in good growth in overall
performance of the workshop.
Revenue of the workshop increased from Rs. 204.800 Millions in the year
2008-2009 to Rs. 247.500 Millions in the year 2009-2010 i.e. by 21% The workshop
has earned a profit of Rs. 10.300 Millions in 2009-2010 as compared to Rs.
7.900 Millions in the year 2008-2009.
MSM Chennai is poised to achieve much better results in the current
financial year 2010-11.
REVIEW OF
OPERATIONS
The financial year 2009-10 was the tenth year of operations of the
Company since its reconstruction. The increase in the revenue of the Company by
15% (Rs. 100.600 Millions) in the year 2009-10 as compared to the previous year
reflects that the Company has been able to further develop its existing
businesses of service and repairs, accident repairs, spare parts and accessory
sales in the desired manner. The revenue would have further grown by Rs. 4.000
Millions, but the AMC revenue was carried forward to the next year, as per
accounting standards.
The Company earned a net profit (after making all tax provisions) of Rs.
11.500 Millions in 2009-10 as compared to a net profit of Rs. 10.200 Millions
in the year 2008-09.
The Company has not availed any new credit facilities and has repaid the
loan of Rs. 41.500 Millions during the year.
OUTLOOK FOR THE
FUTURE
The Company since the start of its operations has been a success story.
The Company established its first workshop in South Delhi in the year 1999,
second workshop in South Delhi itself in the year 2003, which eventually merged
with the first workshop in 2008, third workshop in Chennai in the year 2004 and
has started operations of its new workshop in
In the forthcoming year 2010-11, the Company is targeting to raise the
service load by 14% and body shop load by 11%. The Company is also targeting to
sell 1075 cars as against 910 cars in the current fiscal which would account
for 18% increase. In Insurance sales, the Company is targeting to sell 23,600
policies which would account for a 19% growth.
With the projected increase in business volume, a growth of 19% is
expected in the revenue. Profit After Tax (PAT) is projected to grow from Rs.
11.500 Millions to Rs. 26.000 Millions i.e. by 126% after accounting for a
profit from the North Delhi Workshop in the current fiscal.
The Company believes that the long term prospects of the Company are
attractive and the Directors look forward to the future with confidence.
Bankers Charges Report
as per Registry
|
This form is for |
Modification of
charge |
|
Charge
identification number of the modified |
80005896 |
|
Corporate
identity number of the company |
U74140DL1976PTC008245 |
|
Name of the
company |
J J IMPEX ( |
|
Address of the
registered office or of the principal place of business in |
F-39 Okhla Industrial Area, Phase-II, New Delhi-110020, |
|
Type of charge |
Book Debts Movable Property Immovable
Property Others |
|
Particular of
charge holder |
Mizuho Corporate Bank, 4th Floor, East Tower, Sood Tower,
25, Barakhamba Road, New Delhi-110001, India |
|
Nature of
description of the instrument creating or modifying the charge |
Supplemental
Agreement of loan for Overall limit for Secured Advances |
|
Date of
instrument Creating the charge |
22.09.2007 |
|
Amount secured by
the charge |
Rs. 175.000
Millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest MIBOR / BPLR
Linked Terms of
Repayment Payable on Demand Margin As per Agreement Extent and
Operation of the charge First pari passu
charge on all assets of the company and movable fixed assets of chennia workshop,
exclusive charge on plant and machinery of Chennai plant |
|
Short particulars
of the property charged |
Land and Building
of workshop situated at Plot No. 9, South Phase, Thiru-VI-KA Industrial
Estate, Ekkadutanga. Chennai |
|
Date of latest modification
prior to the present modification |
20.12.2006 |
|
Particulars of
the present modification |
Overall increase
in the limits aggregating to Rs. 175.000 Millions. |
Fixed Assets:
·
·
·
Building
·
Plant and Machinery
·
Furniture and Fixture
·
Office Equipments
·
Computers
·
Vehicles
·
Improvement of Leasehold Premises
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.45.15 |
|
|
1 |
Rs.72.59 |
|
Euro |
1 |
Rs.62.95 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
4 |
|
--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 |
|
33 |
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.