MIRA
INFORM REPORT
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Report Date : |
21.05.2011 |
IDENTIFICATION DETAILS
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Name : |
JOHNSON LIFTS PRIVATE LIMITED |
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Registered Office : |
R B C, |
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Country : |
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Financials (as on) : |
31.03.2010 |
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Date of Incorporation : |
15.04.1981 |
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Com. Reg. No.: |
18-8718 |
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Capital
Investment/ Paid-up Capital: |
Rs.7.500
Millions |
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CIN No.: [Company
Identification No.] |
U27209TN1981PTC008718 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
CHEJ03285C |
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PAN No.: [Permanent
Account No.] |
AAACJ0838Q |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturing, supply, erection and servicing of elevators
(lifts) for passenger, goods and bed lifts and components. |
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No. of
Employees: |
Not Available |
RATING & COMMENTS
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MIRA’s Rating : |
Aa (73) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
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 |
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Maximum Credit Limit : |
USD 6200000 |
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Status : |
Very Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a well-established and reputed 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 regular 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
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Registered/ Head Office : |
R B C, |
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Tel. No.: |
91-44-26152200/ 01/ 02/ 03/ 04/
05 |
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Fax No.: |
91-44-26151614 |
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E-mail: |
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Website : |
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Factory 1 : |
Located at Chennai |
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Tel. No.: |
91-44-26490444 / 26490980 |
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Fax No.: |
91-44-26272026 |
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E-Mail : |
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Factory 2 : |
Located at |
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Tel. No.: |
91-710-4326971 |
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Fax No.: |
91-710-4265277 |
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E-Mail : |
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Factory 3 : |
Located at Chennai (Escalater) |
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Tel. No.: |
91-44-37183771/ 74 |
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Fax No.: |
91-44-37183770 |
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E-Mail : |
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Plant Locations: |
·
17, Tel. No.:91-44-62549514
·
31-A, 6 and 7, SIDCO Industrial Estate,
Chennai-600098, Tel. No.: 91-44-6257717
·
P-307, SIDCO Estate, Chennai-600098, Tel. No.: 91-44-625 8763
·
1-16, Vyasarpadi Industrial Estate,
Chennai-600039, Tel. No.: 91-44-537 7895
·
Plot 24, Industrial Estate, Vyasarpadi,
Chennai-600039, |
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Sales and Service Centers : |
Located at :
· Chennai ·
· Trichy ·
·
· Gurgaon · Noida ·
·
· Jaipur · Mumbai Goregaon · Mumbai Mahpe · Pune ·
·
· Ahmedabad · Kolkata · Bhuvaneswar · Bengaluru · Mangalore ·
·
·
· Vishakapatnam · Tirupathi ·
·
· Callcut ·
·
·
·
·
·
·
·
· Vadodara |
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Located at: ·
· Bangladeh ·
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DIRECTORS
As on 21.06.2010
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Name : |
Mr. John Kongalath John |
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Designation : |
Chairman Cum Managing Director |
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Address : |
1643, 13th |
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Date of Birth/Age : |
23.09.1952 |
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Date of Appointment : |
15.04.1981 |
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DIN No.: |
00035823 |
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Name : |
Mr. Valliakandathil Mahew Thomas |
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Designation : |
Whole Time Director |
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Address : |
W-661, |
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Date of Birth/Age : |
18.12.1948 |
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Date of Appointment : |
03.01.1985 |
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DIN No: |
00457580 |
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Name : |
Mr. Yohan Konglath John |
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Designation : |
Director |
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Address : |
1643, 13th |
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Date of Birth/Age : |
16.07.1985 |
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Date of Appointment : |
21.06.2010 |
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DIN No: |
03106569 |
KEY EXECUTIVES
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Name : |
Ms. Parimala Natarajan |
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Designation : |
Company Secretary |
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Address : |
F-4, SSSP Apartments (Noth), No.45, |
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Tel No.: |
91-44-26233636 |
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Mobile No.: |
91-9444193331 |
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Email : |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 21.06.2010
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Names of Shareholders |
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No. of Shares |
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John K John |
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47100 |
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Elsie John |
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5400 |
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V.M. Thomas |
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9600 |
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Elizebeth Thomas |
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5400 |
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Annamma Chacko |
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7500 |
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Total |
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75000 |
Equity Share Breakup (Percentage of Total Equity)
(As on 30.09.2010)
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Category |
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Percentage |
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Directors or Relatives of directors |
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100.00 |
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Total |
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100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturing, supply, erection and servicing of elevators
(lifts) for passenger, goods and bed lifts and components. |
PRODUCTION STATUS AS ON 31.03.2010
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Particulars |
Unit |
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Actual
Production |
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Lifts |
Nos. |
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4676 |
Installed capacity is not disclosed as the company
does not manufacture lifts as such but manufactures certain components only and
installs lifts at the site using significant bought out components only and
installs lifts at the site using significant bought out components. The number
of components also depends on the size, model of the lifts and other site
conditions.
GENERAL INFORMATION
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Bankers : |
·
State Bank of ·
State Bank of Travancore, W-7, |
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Facilities: |
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Financial Institution : |
Housing Development Finance
Corporation, ITC K Centre, 760, Anna Salai, Chennai – 600002, |
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Banking
Relations : |
Good |
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Auditors : |
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Name : |
R Vittal Raj (Kumar and Raj) Chartered Accountant |
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Address : |
New No.6, Old No.12, |
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Subsidiaries : |
Johnson Lifts Lanka 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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|
100000 |
Equity Shares |
Rs.100/- Each |
Rs.10.000 Millions |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
75000 |
Equity Shares |
Rs.100/-
Each |
Rs.7.500
Millions |
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NOTE:
65000 shares out of the issued and subscribed share
capital were allotted as bonus shares by capitalisation of reserves.
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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1] Share Capital |
7.500 |
7.500 |
7.500 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
1539.893 |
1088.955 |
816.755 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
1547.393 |
1096.455 |
824.255 |
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LOAN FUNDS |
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|
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1] Secured Loans |
0.000 |
0.000 |
0.000 |
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2] Unsecured Loans |
171.272 |
136.108 |
100.470 |
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TOTAL BORROWING |
171.272 |
136.108 |
100.470 |
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DEFERRED TAX LIABILITIES |
2.860 |
1.069 |
5.060 |
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TOTAL |
1721.525 |
1233.632 |
929.785 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
642.046 |
400.347 |
371.694 |
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Capital work-in-progress |
107.766 |
55.324 |
2.315 |
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INVESTMENT |
65.613 |
58.866 |
70.274 |
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DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
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Inventories |
1334.499
|
1101.440
|
714.551
|
|
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Sundry Debtors |
1102.742
|
908.765
|
765.434
|
|
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Cash & Bank Balances |
1057.847
|
803.727
|
634.292
|
|
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Other Current Assets |
24.838
|
26.704
|
20.678
|
|
|
Loans & Advances |
1061.281
|
932.780
|
654.467
|
|
Total
Current Assets |
4581.207
|
3773.416
|
2789.422 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
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Sundry Creditors |
212.913
|
158.131
|
179.269
|
|
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Current Liabilities |
2886.089
|
2504.440
|
1809.988
|
|
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Provisions |
576.105
|
391.750
|
314.663
|
|
Total
Current Liabilities |
3675.107
|
3054.321
|
2303.920
|
|
|
Net Current Assets |
906.100
|
719.095
|
485.502
|
|
|
|
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
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TOTAL |
1721.525 |
1233.632 |
929.785 |
|
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
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Income from Contracts and Sales |
4397.444 |
3455.366 |
3314.150 |
|
|
|
Other Income |
58.828 |
58.858 |
53.318 |
|
|
|
TOTAL (A) |
4456.272 |
3514.224 |
3367.468 |
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|
|
|
|
|
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Less |
EXPENSES |
|
|
|
|
|
|
|
Purchases |
2689.491 |
2482.661 |
|
|
|
|
Manufacturing and Services Expenses |
418.348 |
344.063 |
|
|
|
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Employee Costs |
437.928 |
312.957 |
|
|
|
|
Administrative and other Expenses |
125.057 |
83.956 |
|
|
|
|
Sales and Distribution Expenses |
184.213 |
157.365 |
|
|
|
|
Increase/ Decrease in Inventory |
[233.059] |
[386.889] |
|
|
|
|
TOTAL (B) |
3621.978 |
2994.113 |
3010.154 |
|
|
|
|
|
|
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Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
834.294 |
520.111 |
(Including
Depreciation and Financial Charges) |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
35.982 |
21.554 |
|
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
798.312 |
498.557 |
|
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
54.299 |
42.981 |
|
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
744.013 |
455.576 |
357.314 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
256.291 |
156.710 |
117.017 |
|
|
|
|
|
|
|
|
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|
PROFIT AFTER TAX
(G-H) (I) |
487.722 |
298.866 |
240.297 |
|
|
|
|
|
|
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|
|
Add |
Income tax short/ excess relating to previous years |
0.000 |
[0.342] |
0.263 |
|
|
|
|
|
|
|
|
|
Add: |
Prior Period Adjustment |
7.090 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
Add: |
Income Tax Refund |
0.000 |
0.000 |
0.113 |
|
|
|
|
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|
|
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|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
13.029 |
20.830 |
6.482 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
440.000 |
280.000 |
200.000 |
|
|
|
Proposed Final Dividend @ 200% |
15.000 |
5.625 |
22.500 |
|
|
|
Interim Dividend Paid @ 300% |
22.500 |
16.875 |
0.000 |
|
|
|
Tax on Dividend |
6.373 |
3.825 |
3.825 |
|
|
BALANCE CARRIED
TO THE B/S |
23.968 |
13.029 |
20.830 |
|
|
|
|
|
|
|
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|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
37.789 |
38.427 |
26.900 |
|
|
TOTAL EARNINGS |
37.789 |
38.427 |
26.900 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
395.272 |
425.951 |
247.887 |
|
|
|
Escalators and Elevators |
191.594 |
206.892 |
80.819 |
|
|
|
Capital Goods |
25.079 |
0.000 |
0.000 |
|
|
TOTAL IMPORTS |
611.945 |
632.843 |
328.706 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
6502.96 |
3984.88 |
-- |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
10.94
|
8.50 |
7.14 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
16.92
|
13.18 |
10.78 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
14.24
|
10.92 |
11.30 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.48
|
0.42 |
0.43 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
2.49
|
2.91 |
2.92 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.25
|
1.24 |
1.21 |
LOCAL AGENCY FURTHER INFORMATION
Operations:
During the year, the operations of the company have seen a good rise in the
production lever of components of lifts from 3803 lifts to 4676 lifts, whereas
the turnover of the company went up by Rs. 1002.200 Millions thereby
registering a growth of 24%. The Profit Before Tax went up by 63%. As compared
to the previous year, the greater efficiency in operation and procurement, have
resulted in higher profitability.
Outlook for
Current year and future plans:
The launch of gearless machines both machine room and machine room less
has been very successful and encouraging. They are stepping into the next speed
segment of 2 mps/ 2.5 mps lifts.
During the year, the Poonamallee Factory received the prestigious IMC Exhibition in Mumbai. A
working model of the escalator made in the factory was displayed there. It has
given them a big mileage by exposure to the Indian market as well as to
components manufactures from other countries.
Services:
The service an maintenance is a bench mark fro this industry. They
attach great importance to giving prompt and quality service to the entire satisfaction
of the customer. This has enabled them to attract even customers whose lifts
were originally supplied by other manufacturers. Modernization of existing
lifts is therefore a growing line for the company. Further, even customers
whose lifts were not on the AMC are coming back to the fold.
Contingent
Liabilities not provided in respect of
|
Particulars |
31.03.2010 Rs.
in Millions |
|
Guarantees issued by the bankers on behalf of the company counter
guaranteed by the company |
1037.867 |
|
Claims against
the company not acknowledged as debts by the company in respect of: |
|
|
Tamilnadu Turnover Tax pending before Honorable Madras High Court Year: 2001-02:- Rs. 1.277 Millions Year: 2002-03:- Rs. 4.239 Millions Year: 2003-04:- Rs. 5.349 Million |
10.866 |
|
Kerala Sales Tax pending before Honorable Supreme court of India Year : 2003-04:- Rs. 14.397 Millions Kerala Sales Tax pending before Honorable Kerala High court Year: 2005-06 :- Rs. 3.398 Millions Year: 2006-07:- Rs. 4.171 Millions |
21.967 |
|
Andhra Pradesh VAT pending before Honorable Andhra Pradesh High Court Year : 2003-04:- Rs. 9.869 Millions Year : 2005-07:- Rs. 46.627 Millions Year: 2008-09:- Rs. 22.613
Millions Year : 2009-10:- Rs. 8.630 Millions |
87.739 |
|
Claim made against the company by the company by a customer on supply
made pending before customer redressel Forum |
0.221 |
FORM NO. 8
|
Corporate
identity number of the company |
U27209TN1981PTC008718 |
|
Name of the
company |
JOHNSON LIFTS PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
R B C, |
|
This form is for |
Modification of Charge |
|
Charge
Identification Number of the charge to be modified |
10144688 |
|
Type of charge |
Book Debts Floating Charge Others |
|
Particular of
charge holder |
State Bank of
Travancore W-7, |
|
Nature of
instrument creating charge |
Supplemental
Hypothecation cum Working Capital Agreement |
|
Date of instrument
Creating the charge |
28.03.2011 |
|
Amount secured by
the charge |
Rs. 1500.000
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of
Interests: The commission at
the rate of 0.50% p.a + Service Tax
and cess Terms of
repayment: 12 Months Margin: 20% to be kept as
fixed deposit Extent and
operation of the charge: The charge on the
Hypothecated Current Assets shall be Held as security till the complete
closure of the credit limit that is recorded in the Books of Accounts. |
|
Short particulars
of the property or assets charged (Including complete address and location of
the property) |
Raw Material,
Semi Finished goods, Finished Goods, Book debts and all other assets which
are current assets in nature |
|
Date of Last
modification prior to the present modification |
23.01.2010 |
|
Particulars of
the present modification |
BG Limit of
Rs.1250.000 Millions got enhanced to Rs.1500.000 Millions and secured on the
current assets of the company. |
|
Corporate
identity number of the company |
U27209TN1981PTC008718 |
|
Name of the
company |
JOHNSON LIFTS PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
R B C, |
|
This form is for |
Modification of Charge |
|
Type of charge |
Current Assets |
|
Particular of
charge holder |
State Bank of
Travancore W-7, |
|
Nature of
instrument creating charge |
Supplemental
Hypothecation cum Working Capital Agreement |
|
Date of
instrument Creating the charge |
05.01.2009 |
|
Amount secured by
the charge |
Rs.710.000
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of
Interests: The commission at
the rate of 0.75% p.a to be paid upfront. Terms of
repayment: 12 Months Margin: 50% Cash Margin
at any point of time for the total outstanding Bank Guarantee Extent and
operation of the charge: The charge on the
Hypothecation Current Assets shall be Held as security till the complete
closure of the credit limit that is recorded in the Books of Accounts. |
|
Particulars of
the property charged |
Current assets of
the company |
|
Particulars of
the present modification |
BG Limit of
Rs.500.000 Millions got enhanced to Rs.710.000 Millions and secured on the
current assets of the company. |
FIXED ASSETS:
- Land –
Freehold
- Land –
Leasehold
- Buildings
- Plant and
Machinery
- Vehicles
- Computers
- Generator
- Electrical
Fittings
- Air
conditioners
- Water Coolers
- Furniture
and Fittings
WEBSITE DETAILS:
MILESTONES
·
Four decades in elevators.
Today, No. 1 in South India and No. 2 in
·
Over Rs.5000.000 Millions sales in
2007.
5000 elevators/year.
19,000 installations to date.
·
ISO 9001 company.
Setting industry benchmarks:
New technology adapted for Indian conditions.
Professional installation teams.
Quickest service response.
·
2 ultra modern factories - in Chennai
and
·
Comprehensive product range in
elevators and escalators.
·
Over 1500 employees. 800 installation
personnel.
·
Offices all over
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.44.93 |
|
|
1 |
Rs.72.92 |
|
Euro |
1 |
Rs.64.34 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
9 |
|
PAID-UP CAPITAL |
1~10 |
8 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
8 |
|
--PROFITABILIRY |
1~10 |
9 |
|
--LIQUIDITY |
1~10 |
8 |
|
--LEVERAGE |
1~10 |
8 |
|
--RESERVES |
1~10 |
9 |
|
--CREDIT LINES |
1~10 |
7 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--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 |
|
73 |
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.