MIRA
INFORM REPORT
|
Report Date : |
18.11.2011 |
IDENTIFICATION DETAILS
|
Name : |
ALLIED PHOTOGRAPHICS INDIA LIMITED |
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Registered Office : |
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Country : |
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Financials (as on) : |
31.03.2011 |
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Date of Incorporation : |
16.10.1946 |
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Com. Reg. No.: |
11-5277 |
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Capital Investment / Paid-up Capital : |
Rs.7.200 Millions |
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CIN No.: [Company
Identification No.] |
U99999MH1946PLC005277 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
MUMA20494F |
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Pan No.: |
AABCA2068A |
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Legal Form : |
A closely held public limited liability company |
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Line of Business : |
Manufacturer, Exporter, Importer, and Distributor of Photographic paper, film, photography chemicals, chemicals, black and white paper, film cameras, cd's and dvd's, color paper and film, graphic, art film. |
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No. of Employees : |
Less than 50 Persons (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (47) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 550000 |
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Status : |
Satisfactory |
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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 reported as 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.
INFORMATION DECLINED BY
|
Name : |
Mr. Bengali |
|
Designation : |
Accountant |
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Contact No.: |
91-22-66338206 |
|
Date : |
17.11.2011 |
LOCATIONS
|
Registered Office : |
|
|
Tel. No.: |
91-22-22338209 / 22338212 / 66338206 / 66338202 |
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Fax No.: |
91-22-22338213 / 66338213 |
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E-Mail : |
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Website : |
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Corporate Office : |
63/3, M. G. Marg, |
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Regional Offices : |
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Eastern : |
31, |
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Northern : |
SH-2/23, Ground Floor, New Moti Nagar, |
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Southern : |
13, |
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Western : |
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Branch Office : |
Located At : ·
Mumbai ·
Ahmedabad ·
·
Chennai ·
·
·
·
·
·
·
Jaipur ·
·
Roorkee ·
Kolkata ·
Guwahati ·
|
DIRECTORS
As on 08.09.2011
|
Name : |
Mr. Shashi Pal Agarwal |
|
Designation : |
Managing Director |
|
Address : |
Flat No. 12, |
|
Date of Birth/Age : |
26.04.1951 |
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Date of Appointment : |
12.02.2002 |
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DIN No.: |
00053536 |
Other Directorship
|
S.No. |
CIN |
Name of the Company |
Current
designation of the director |
Date of
appointment at current designation |
Original date of
appointment |
Company Status |
Defaulting
status |
|
1 |
U30004UP1984PTC006556 |
Kukki Color
Photos Private Limited |
Director |
22-05-84 |
22-05-84 |
Active |
NO |
|
2 |
U99999MH1946PLC005277 |
Allied
Photographics India Limited |
Managing
director |
12-02-02 |
12-02-02 |
Active |
NO |
|
3 |
U33205GA1991PTC001108 |
Phil Photo
Private Limited |
Director |
20-01-03 |
20-01-03 |
Active |
NO |
|
4 |
U74900MH2008PLC181652 |
Allied
Photographics East India Limited |
Director |
28-04-08 |
28-04-08 |
Active |
NO |
|
5 |
U93000MH2008PLC184580 |
Allied
Industrial Facilities Limited |
Managing
director |
11-07-08 |
11-07-08 |
Active |
NO |
|
6 |
U52190DL2008PTC185286 |
Inceptionz
Enterprises Private Limited |
Director |
27-11-08 |
27-11-08 |
Active |
YES |
|
|
|
|
Name : |
Mr. Sanjeev Narendra |
|
Designation : |
Director |
|
Address : |
Building No. 1, Road No. 13, East Punjabi Baug, |
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Date of Birth/Age : |
17.07.1961 |
|
Date of Appointment : |
12.02.2002 |
|
DIN No.: |
00053857 |
Other Directorship
|
S.No. |
CIN |
Name of the
Company |
Current
designation of the director |
Date of appointment
at current designation |
Original date of
appointment |
Date of
cessation |
Company Status |
Defaulting
status |
|
1 |
U99999MH1946PLC005277 |
Allied
Photographics India Limited |
Director |
12-02-02 |
12-02-02 |
26-09-11 |
Active |
NO |
|
2 |
U33205GA1991PTC001108 |
Phil Photo
Private Limited |
Director |
24-04-04 |
24-04-04 |
- |
Active |
NO |
|
3 |
U74999DL2004PTC130673 |
Agfa Photo India
Private Limited |
Director |
22-11-04 |
22-11-04 |
- |
Active |
YES |
|
4 |
U74900MH2008PLC181652 |
Allied
Photographics East India Limited |
Director |
28-04-08 |
28-04-08 |
- |
Active |
NO |
|
5 |
U52190DL2008PTC185286 |
Inceptionz
Enterprises Private Limited |
Director |
29-09-09 |
01-09-09 |
- |
Active |
YES |
|
|
|
|
Name : |
Mr. Satish Shivalal Shah |
|
Designation : |
Director |
|
Address : |
1404, |
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Date of Birth/Age : |
14.08.1956 |
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Date of Appointment : |
02.08.2007 |
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DIN No.: |
01207456 |
Other Directorship
|
S.No. |
CIN |
Name of the
Company |
Current
designation of the director |
Date of
appointment at current designation |
Original date of
appointment |
Date of
cessation |
Company Status |
Defaulting
status |
|
1 |
U15200MH1995PTC088598 |
Cal Dairy Tech
Private Limited |
Director |
05-08-06 |
05-08-06 |
- |
Active |
NO |
|
2 |
U45200MH2007PTC167487 |
Shanky
Developers Private Limited |
Director |
03-02-07 |
03-02-07 |
- |
Active |
NO |
|
3 |
U99999MH1946PLC005277 |
Allied
Photographics India Limited |
Director |
16-03-07 |
16-03-07 |
- |
Active |
NO |
|
4 |
U93090MH2007PTC168967 |
Shanky Films
Private Limited |
Director |
20-03-07 |
20-03-07 |
- |
Active |
NO |
|
5 |
U45202PN2007PTC129602 |
Srishti and Delhi
Housing Private Limited |
Director |
11-08-08 |
02-04-07 |
27-04-11 |
Active |
NO |
|
|
|
|
Name : |
Mr. Rabindra Nath Bhakta |
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Designation : |
Director |
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Address : |
506, |
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Date of Birth/Age : |
10.08.1949 |
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Date of Appointment : |
24.09.2009 |
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DIN No.: |
02621743 |
Other Directorship
|
S.No. |
CIN |
Name of the
Company |
Current
designation of the director |
Date of
appointment at current designation |
Original date of
appointment |
Company Status |
Defaulting
status |
|
1 |
U99999MH1946PLC005277 |
Allied
Photographics India Limited |
Director |
24-09-09 |
29-03-09 |
Active |
NO |
KEY EXECUTIVES
|
Name : |
Mr. Mahendra Hiralal Thakkar |
|
Designation : |
Secretary |
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Address : |
H-204, Mari Gold, Valley of Flowers, Kandivali (East), Mumbai – 400
101, |
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Date of Birth/Age : |
04.02.1942 |
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Date of Appointment : |
11.04.2002 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 08.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
Anila Dhudalal Shah |
|
50 |
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Ashwin Dwarkadas Adhiya |
|
122 |
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Ashok K Aggarwal |
|
7000 |
|
Khorshed Darius Cama |
|
118 |
|
Kukki Color Prints Private Limited, |
|
15050 |
|
Rajkumar Pitamber Shumshere |
|
144 |
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Radha Padmanabhan |
|
60 |
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Rajesh Navinchandra Patwa |
|
100 |
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Sulochana Sitaldas Dalal |
|
159 |
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Sheila Sitaldas Dalal |
|
144 |
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Sarla Devendrakumar |
|
112 |
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Shashi Pal Agarwal |
|
35191 |
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S P Agarwal |
|
9523 |
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Vasantlal Jivatlal |
|
200 |
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Vimla Sitaldas Dalal |
|
144 |
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Vina Sitaldas Dalal |
|
134 |
As on 08.09.2011
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
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|
Bodies
corporate |
|
20.90 |
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Directors
or relatives of directors |
|
71.82 |
|
Other
top fifty shareholders |
|
7.28 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer, Exporter, Importer, and Distributor of
Photographic paper, film, photography chemicals, chemicals, black and white
paper, film cameras, cd's and dvd's, color paper and film, graphic, art film. |
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Products : |
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GENERAL INFORMATION
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No. of Employees : |
Less than 50 Persons (Approximately) |
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Bankers : |
·
ING Vysya Bank Limited ·
Indian Overseas Bank 17/9, Garg Naonha Complex, |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Virendra Mona and Associates Chartered Accountants |
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Address : |
24/26, Next to Central Bank of |
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PAN No.: |
AAEFV5701B |
CAPITAL STRUCTURE
As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
120000 |
Equity Shares |
Rs.100/- each |
Rs.12.000 Millions |
|
30000 |
Unclassified Shares |
Rs.100/- each |
Rs.3.000 Millions |
|
|
Total |
|
Rs.15.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
72000 |
Equity Shares |
Rs.100/- each |
Rs.7.200
Millions |
·
600 Equity Shares of
Rs.100 each have been allotted as fully paid up shares pursuant to a contract
without payment being received in cash.
·
20000 Equity Shares of
Rs.100 each have been allotted as fully paid up shares to the Shareholders of
erstwhile Agfa India Limited pursuant to the Scheme of Amalgamation.
·
32000 Equity Shares of
Rs.100 each have been allotted as fully paid up Bonus Shares by capitalization
of Share Premium and General Reserves.
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
7.200 |
7.200 |
7.200 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
131.207 |
108.896 |
100.228 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
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NETWORTH |
138.407 |
116.096 |
107.428 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
6.624 |
0.000 |
2.283 |
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2] Unsecured Loans |
7.744 |
9.707 |
11.018 |
|
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TOTAL BORROWING |
14.368 |
9.707 |
13.301 |
|
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DEFERRED TAX LIABILITIES |
1.619 |
1.632 |
1.643 |
|
|
|
|
|
|
|
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TOTAL |
154.394 |
127.435 |
122.372 |
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|
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APPLICATION OF FUNDS |
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|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
15.907 |
14.730 |
21.268 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
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|
INVESTMENT |
49.611 |
27.493 |
2.044 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
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|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
29.391
|
10.678
|
30.645
|
|
|
Sundry Debtors |
3.919
|
3.488
|
24.337
|
|
|
Cash & Bank Balances |
50.611
|
68.337
|
38.492
|
|
|
Other Current Assets |
0.000
|
0.000
|
0.000
|
|
|
Loans & Advances |
25.504
|
28.817
|
26.133
|
|
Total
Current Assets |
109.425
|
111.320
|
119.607
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
7.554
|
4.007
|
7.822
|
|
|
Other Current Liabilities |
9.472
|
6.774
|
5.767
|
|
|
Provisions |
3.523
|
15.327
|
6.958
|
|
Total
Current Liabilities |
20.549
|
26.108
|
20.547
|
|
|
Net Current Assets |
88.876
|
85.212
|
99.060
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
154.394 |
127.435 |
122.372 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Sales |
69.118 |
110.228 |
228.384 |
|
|
|
Other Income |
24.238 |
18.328 |
12.245 |
|
|
|
TOTAL (A) |
93.356 |
128.556 |
240.629 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Goods Sold |
47.642 |
89.053 |
205.470 |
|
|
|
Employee’s Remuneration and other benefits |
4.159 |
3.852 |
5.082 |
|
|
|
Selling, Administrative and Other Expenses |
10.615 |
16.395 |
16.741 |
|
|
|
Difference in Foreign Exchange |
0.008 |
(0.024) |
(0.125) |
|
|
|
TOTAL (B) |
62.424 |
109.276 |
227.168 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
30.932 |
19.280 |
13.461 |
|
|
|
|
|
|
|
|
|
Less |
INTEREST (D) |
1.723 |
1.165 |
2.104 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
29.209 |
18.115 |
11.357 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
0.975 |
1.051 |
1.367 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
28.234 |
17.064 |
9.990 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
3.430 |
5.868 |
3.421 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
24.804 |
11.196 |
6.569 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
1.936 |
4.267 |
0.198 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
23.000 |
11.000 |
2.500 |
|
|
|
Proposed Dividend |
2.160 |
2.160 |
0.000 |
|
|
|
Tax on Proposed Dividend |
0.334 |
0.367 |
0.000 |
|
|
BALANCE CARRIED
TO THE B/S |
1.246 |
1.936 |
4.267 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
0.000 |
1.026 |
0.882 |
|
|
TOTAL EARNINGS |
0.000 |
1.026 |
0.882 |
|
|
|
|
|
|
|
|
|
|
TOTAL IMPORTS |
11.964 |
7.954 |
12.581 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
344.50 |
155.49 |
91.24 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
26.57 |
8.71 |
2.73 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
40.85 |
15.48 |
4.37 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets) |
(%) |
22.53 |
13.54 |
7.09 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.20 |
0.15 |
0.09 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.25 |
0.31 |
0.32 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
5.33 |
4.26 |
5.82 |
LOCAL AGENCY FURTHER INFORMATION
DETAILS OF SUNDRY
CREDITORS
|
Particulars |
As
on 31.03.2011 (Rs.
in Millions) |
As
on 31.03.2010 (Rs.
in Millions) |
As
on 31.03.2009 (
Rs. in Millions) |
|
Sundry Creditors for goods |
|
|
|
|
Total outstanding dues to SSI undertakings |
4.779 |
3.655 |
4.233 |
|
Total outstanding dues to creditors other than SSI undertakings |
2.655 |
0.000 |
1.296 |
|
Other Creditors |
0.120 |
0.352 |
2.293 |
|
Total |
7.554 |
4.007 |
7.822 |
OPERATIONS
During the year, the Company has tried to maintain its turnover by sale of Kodak cameras and printers, but at a very thin margin. There still some potential in the market of Medical X-Ray chemicals, but the market of traditional photographic material is declining. The profits are mainly from interest and rent received. However, company has made some progress in construction activity and the profit from this activity at Pune is Rs.18.300 millions.
CONTINGENT
LIABILITIES (As on 31.03.2011)
Sales Tax Claims against the company not acknowledged as debts : Rs.0.973 million. Bank Guarantees given to Sales tax authorities against some of the above claims : Rs.0.693 million.
FORM 8
|
This form is for |
Creation of
charge |
|
Corporate
identity number of the company |
U99999MH1946PLC005277 |
|
Name of the
company |
ALLIED PHOTOGRAPHICS INDIA LIMITED |
|
Address of the
registered office or of the principal place of business in |
|
|
Type of charge |
·
Book
Debts ·
Immovable
Property ·
Others o
All
fixed assets, current assets, book-debts |
|
Particular of
charge holder |
Indian Overseas Bank 17/9, Garg Naonha Complex, E-mail : durgesh.om@rediffmail.com |
|
Nature of
description of the instrument creating or modifying the charge |
OCC (Hypothecation
of stock), Letter of hypothecation for securing machineries / vehicles /
goods / book-debts, dated 21.11.2007 |
|
Date of
instrument Creating the charge |
21.11.2007 |
|
Amount secured by
the charge |
Rs.25.000
Millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest BPLR – 1.25% IE
12.00% at monthly reast. The interest rate may be revised from time to time
as per instruction / guidelines issued by the bank from time to time Penal interest @
2.00% will be charged for default in payment of instalment / interest or
other any irregularity the conduct of account Terms of
Repayment Repayment on
demand Margin 25% |
|
Short particulars
of the property charged |
Property situated
at “Kant Niwas, Flat No. 02, Opposite Madhu Park, 1st Road, Khar
West, Mumbai – 400 052” |
FIXED ASSETS
·
Land
·
Building
·
Plant and Machinery
·
Furniture, Fixtures and Office Equipments
·
Cold Storages and Air Conditioners
·
Vehicles
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.50.72 |
|
|
1 |
Rs.79.87 |
|
Euro |
1 |
Rs.68.46 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
8 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
47 |
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.