1. Summary Information
|
|
|
Country |
India |
|
Company Name |
GLS POLYMERS
PRIVATE LIMITED |
Principal Name 1 |
Mr. Ganesh Mahaevappa |
|
Status |
Satisfactory |
Principal Name 2 |
Praveena Ganesh |
|
|
|
Registration # |
08-035699 |
|
Street Address |
No. 415, 11th
Cross, 4th Phase, Peenya Industrial Area, Bangalore – 560058,
Karnataka |
||
|
Established Date |
25.02.2005 |
SIC Code |
-- |
|
Telephone# |
91-80-41179140/ 41735691 |
Business Style 1 |
Manufacturer |
|
Fax # |
91-80-28364433 |
Business Style 2 |
-- |
|
Homepage |
Product Name 1 |
Blends |
|
|
# of employees |
28 (Approximately) (In Office - 10 and In Factory - 18) |
Product Name 2 |
Compounds |
|
Paid up capital |
Rs.2,000,000/- |
Product Name 3 |
Reactive Polymers |
|
Shareholders |
Directors or
relatives of Directors (100%) |
Banking |
Canara Bank |
|
Public Limited Corp. |
No |
Business Period |
6 Years |
|
IPO |
No |
International Ins. |
- |
|
Public |
No |
Rating |
Ba (45) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
CEO |
|
-- |
-- |
-- |
-- |
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2011 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
24,614,000 |
Current Liabilities |
3,835,000 |
|
Inventories |
11,427,000 |
Long-term Liabilities |
9,550,000 |
|
Fixed Assets |
7,293,000 |
Other Liabilities |
4,998,000 |
|
Deferred Assets |
0,000 |
Total Liabilities |
18,383,000 |
|
Invest& other Assets |
0,000 |
Retained Earnings |
22,951,000 |
|
|
|
Net Worth |
24,951,000 |
|
Total Assets |
43,334,000 |
Total Liab. & Equity |
43,334,000 |
|
Total Assets (Previous Year) |
37,886,000 |
|
|
|
P/L Statement as of |
31.03.2011 |
(Unit: Indian Rs.) |
|
|
Total Income |
964,777,000 |
Net Profit |
8,449,000 |
|
Total Income(Previous yr) |
103,422,000 |
Net Profit(Prev.yr) |
7,615,000 |
MIRA
INFORM REPORT
|
Report Date : |
25.11.2011 |
IDENTIFICATION DETAILS
|
Name : |
GLS POLYMERS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
No. 415, 11th Cross, 4th Phase, Peenya
Industrial Area, Bangalore – 560058, Karnataka |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
25.02.2005 |
|
|
|
|
Com. Reg. No.: |
08-035699 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.2.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U25209KA2005PTC035699 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
BLRG06595B |
|
|
|
|
PAN No.: [Permanent Account No.] |
AACCG3173D |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
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|
|
|
Line of Business
: |
Manufacturer of Blends, Compounding and Reactive Polymers. |
|
|
|
|
No. of Employees
: |
28 (Approximately) ( In Office
– 10 and In Factory – 18) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 99000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
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|
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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 concern 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 – September 30, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INFORMATION PARTED BY
|
Name : |
Mr. Basavraj |
|
Designation : |
Accountant |
|
Contact No.: |
91-97413092058 |
LOCATIONS
|
Registered Office/ Factory : |
No. 415, 11th Cross, 4th Phase, Peenya
Industrial Area, Bangalore – 560058, Karnataka, India |
|
Tel. No.: |
91-80-41179140/ 41735691 |
|
Mobile No.: |
91-97413092058 (Mr. Basavraj) |
|
Fax No.: |
91-80-28364433 |
|
E-Mail : |
hnarao@dataone.in glspolymers@yahoo.com hnarao@vsnl.net |
|
Website : |
|
|
Area : |
22000 Sq.fts |
|
Location : |
Rented |
DIRECTORS
As on 29.09.2011
|
Name : |
Mr. Ganesh Mahaevappa |
||||||||||||||||
|
Designation : |
Managing Director |
||||||||||||||||
|
Address : |
FF04, Meridian Gardens, Behind SBI Bank, CBI Road, Ganga Nagar,
Bangalore – 560024, Karnataka, India |
||||||||||||||||
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Date of Birth/Age : |
01.06.1966 |
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Date of Appointment : |
02.04.2007 |
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DIN No.: |
00571114 |
||||||||||||||||
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Other Directorship :
|
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|
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|
Name : |
Praveena Ganesh |
||||||||||||||||
|
Designation : |
Director |
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|
Address : |
No. 73, FF 04, Meridian Apartments, Behind SBIBI Road, Ganga Nagar,
Bangalore – 560032, Karnataka, India |
||||||||||||||||
|
Date of Birth/Age : |
15.10.1970 |
||||||||||||||||
|
Date of Appointment : |
15.12.2007 |
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DIN No.: |
01773160 |
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Other Directorship :
|
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|
||||||||||||||||
|
Name : |
Bijjaal Guruswamy Ayarahalli |
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|
Designation : |
Director |
||||||||||||||||
|
Address : |
No. 690/91, B B Garden Road, Mysore – 570004, Karnataka, India |
||||||||||||||||
|
Date of Birth/Age : |
28.10.1977 |
||||||||||||||||
|
Date of Appointment : |
01.05.2008 |
||||||||||||||||
|
DIN No.: |
02177168 |
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|
Other Directorship :
|
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MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 29.09.2011
|
Names of Shareholders |
No. of Shares |
|
Ganesh M. |
123284 |
|
T P. Kallesh |
20000 |
|
K. Lakshmipathy |
20000 |
|
Praveen Ganesh |
20000 |
|
D. Sudhakar |
16666 |
|
A. G. Bijjal |
50 |
|
Total |
200000 |
Equity Share Break up (Percentage of Total Equity)
As on 29.09.2011
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Blends, Compounding and Reactive Polymers. |
|
|
|
|
Products : |
·
Copouding, Blending of Engineering Plastics ·
Polypropylene (PP) ·
Acrylonitrile Butadiene Styrene(ABS) ·
Nylon 6 and 66 (Polyamide) ·
Blends ·
Polycarbonate(PC) ·
Acetal (POM) ·
TPO (Olefin Elestomer) |
GENERAL INFORMATION
|
Suppliers : |
·
20 Micron Limited ·
Airtel ·
Uniq Detective and Security Services Private
Limited ·
Reena Organics Private Limited ·
Idea Cellular Limited ·
Brich Plastics Inc ·
B. P. Chemicals ·
Thomas International Publishing Company Private
Limited ·
Xpectra Polymer Concepts – Purchase ·
International Exim Agency ·
KLJ Resources Limited ·
Kailash Trading Corporation ·
SGS India Private Limited |
|||||||||||||||
|
|
|
|||||||||||||||
|
Customers : |
·
ADC India Communication Limited ·
Adept Polymers Private Limited ·
Advanced Fiber Systems Private Limited ·
Optics and Allied Engineering Private Limited ·
M. N. Poly Products ·
Filcon Electronics Private Limited ·
Lakshmi Tools and Components ·
Centum Industries Private Limited ·
Crystal Precision Products ·
Karnataka Plastoo Industries Private Limited ·
Mallya Enterprises ·
ZTC International Landscape Solutions Private
Limited ·
Primex Plastics Private Limited ·
Toyota Tsusho India Private Limited |
|||||||||||||||
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|
|||||||||||||||
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No. of Employees : |
28 (Approximately) ( In Office -
10 and In Factory - 18) |
|||||||||||||||
|
|
|
|||||||||||||||
|
Bankers : |
Canara Bank, Specialised SME Branch 473 -
D, 13th Cross, 4th Phase, Peenya
Industrial Area, Bangalore – 560058, Karnataka, India |
|||||||||||||||
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|
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Facilities : |
|
|
|
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Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
ABS and Company Chartered Accountants |
|
Address : |
No. 32, G3, Rukmini Apartments, 15th Cross, 11th
Main, Malleswaram, Bangalore – 560055, Karnataka, India |
|
Tel. No.: |
91-80-23448727/ 23551653 |
|
PAN.: |
ADRPR2313SR |
CAPITAL STRUCTURE
As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
250000 |
Equity Shares |
Rs.10/- each |
Rs.2.500 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
200000 |
Equity Shares |
Rs.10/- each |
Rs.2.000
Millions |
|
|
|
|
|
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 |
2.000 |
2.000 |
2.000 |
|
|
2] Share Application Money |
0.000 |
0.650 |
0.650 |
|
|
3] Reserves & Surplus |
22.951 |
14.564 |
6.995 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
24.951 |
17.214 |
9.645 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
9.550 |
8.931 |
8.477 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
9.550 |
8.931 |
8.477 |
|
|
DEFERRED TAX LIABILITIES |
0.286 |
0.247 |
0.200 |
|
|
|
|
|
|
|
|
TOTAL |
34.787 |
26.392 |
18.322 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
7.293 |
7.418 |
7.256 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
11.427
|
4.450
|
3.654 |
|
|
Sundry Debtors |
17.592
|
21.954
|
9.850 |
|
|
Cash & Bank Balances |
1.287
|
0.016
|
0.047 |
|
|
Other Current Assets |
0.000 |
0.000 |
0.000 |
|
|
Loans, Advances and Deposits |
5.735
|
4.048
|
3.123 |
|
Total
Current Assets |
36.041
|
30.468
|
16.674 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
3.835
|
7.208
|
3.828 |
|
|
Other Current Liabilities |
0.000 |
0.000 |
0.000 |
|
|
Provisions |
4.712
|
4.286
|
1.806 |
|
Total
Current Liabilities |
8.547
|
11.494
|
5.634 |
|
|
Net Current Assets |
27.494
|
18.974
|
11.040 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.026 |
|
|
|
|
|
|
|
|
TOTAL |
34.787 |
26.392 |
18.322 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
|
|
|
|
|
|
|
INCOME FROM THE
BUSINESS INCLUDING OTHER INCOME |
96.477 |
103.422 |
66.495 |
|
|
|
|
|
|
|
|
|
|
TOTAL
EXPENDITURE |
82.217 |
90.354 |
59.784 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
14.260 |
13.068 |
6.711 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
1.099 |
1.167 |
1.162 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
13.161 |
11.901 |
5.549 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
4.712 |
4.286 |
1.806 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
8.449 |
7.615
|
3.743 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
0.107 |
0.000 |
0.000 |
|
|
TOTAL EARNINGS |
0.107 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
42.24 |
38.08 |
18.37 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
8.75
|
7.36
|
5.62 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
30.37
|
31.41
|
23.19 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.53
|
0.69
|
0.58 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.73
|
1.19
|
1.46 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
4.22
|
2.65
|
2.96 |
LOCAL AGENCY FURTHER INFORMATION
PERFORMANCE OF THE
COMPANY
For the said financial year the Company has earned a net profit of
Rs.13.160 Millions which is 10.58% more than the previous year. The
management’s timely decision and effort helps to grow. Same trend is expecting
in future also.
FORM 8
|
Corporate identity number of the company |
U25209KA2005PTC035699 |
|
Name of the company |
GLS POLYMERS PRIVATE LIMITED |
|
Address of the registered office or of the
principal place of business in |
No. 415, 11th Cross, 4th Phase, Peenya Industrial
Area, Bangalore – 560058, Karnataka, India Email Id : hnarao@gmail.com |
|
This form is for |
Modification of charge |
|
Charge identification (ID) number of the
charge to be modified |
80047629 |
|
Type of charge |
Movable property (not being pledge) Floating charge |
|
Particular of charge holder |
Canara Bank, 473 D, 13th Cross, 4th Phase,
SME Branch, Peenya Industrial Area, Bangalore – 560058, Karnataka, India Email Id : cb2454@canarabank.com |
|
Nature of instrument creating charge |
Supplement Common Hypothecation Agreement |
|
Date of instrument Creating the charge |
10.03.2011 |
|
Amount secured by the charge |
Rs.18.500 Millions |
|
Brief of the principal terms an conditions
and extent and operation of the charge |
Rate of Interest OCC/ODBD - 10.25% p.a Other limits as per existing/sanction
terms Terms of repayment OCC/ODBD - Running account repayable on
demand FLC (DA/DP) - Usance period 90 days TL - As per existing terms Margin As per bank norms Extent and operation of the charge The charge operates to the extent of
entire loan amount plus interest, commission, expenses, cost and other
charges if any Others The said amount of Rs.17.000 Millions
comprises of cash credit Rs.7.500 Millions (enhanced from Rs.6.000 Millions)
FLC Rs.3.000 Millions and Term Loan Rs.6.500 Millions continued at existing
level |
|
Short particulars of the property or asset(s)
charged (including complete address and location of the property) |
Hypothecation by way of first charge on
stocks, book debts, plant and machineries and other movables present and
future stored / installed at the company premises at No.415, 11th Cross, 4th
Phase, Peenya Industrial Area, Bangalore - 58 or at any other place |
|
Date of instrument modifying the charge |
05.06.2010 |
|
Particulars of the present modification |
By the amount secured by charge stands
increased from Rs.15.500 Millions to Rs.17.000 Millions (All other terms and conditions remains
unchanged) |
FIXED ASSETS
·
Computer
·
Electrical and Fittings
·
Furniture and Fixtures
·
Motor Car
·
Moulds
·
Office Equipments
·
Plant and Machinery
·
Sewing Machine
·
Testing Instruments
·
Tools and Equipments
·
Weighing Scale
·
Power Saver
WEBSITE DETAILS
Subject is an ISO 9001-2008 certified by TUV
SUD South Asia .The Company was established in 2005 and has commenced
commercial production in Jan2006.
Subject is founded by GANESH.M .He is an
Engineering Graduate in Polymer Science and Technology from University of
Mysore and served in many companies. He has got Wide experience in Polymer
Research, Development, Technical Service and marketing and etc.
Subject has got highly qualified experience
polymer Technologist team to produce high quality and consistent product.
The objective of the company is to provide
original, effective technical solutions to polymer users and converters. The
solutions are in the form of polymer coloring, compounding, blending, grafting
and other modifying and even complete formulations to meet customers unique
specification and requirements.
The polymer compounding skills are applied to
enhance and enrich the polymer properties to make them suitable for applications,
where the original base polymer would not fulfill the need. The company has the
latest Twin screw Extruders, having fully computerized control equipment to
handle all kinds of Engineering plastics.
The unit Located in Peenya Industrial Area
with an adequate built area and 6000 Sq ft available for immediate expansion.
Which is one of the largest industrial area in the country. The location is quite strategic from the
point of proximity to many local customer and customers out of Bangalore
through easy access to national highway connecting to Mumbai, Hyderabad,
Mangalore and Chennai.
Bangalore has an International airport and is
close to seaport such as Chennai and Cochin. Hence, import and export, whether
by air or sea, do not pose any constraint
Specialty Thermoplastic Blends , compounds and
Reactive polymers from subject provide Flame retardant, Glass Reinforcement,
mineral filled, Impact resistance, Soft touch, Wear resistance, Surface
Properties, UV and color properties etc in polyolefin and Engineering Plastics.
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.52.25 |
|
|
1 |
Rs.81.23 |
|
Euro |
1 |
Rs.69.83 |
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 |
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 |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
45 |
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.