Business information report

1. Summary Information

		Country	India
Company Name	mpp technologies private limited	Principal Name 1	Mr. Mohandas Dejoo Shetty
Status	Moderate	Principal Name 2	Mr. Malleshaiah Devarajaiah
		Registration #	08-22626
Street Address	487/C, 4^th Phase, 14^th Cross, Peenya Industrial Estate, Bangalore – 560 058, Karnataka
Established Date	08.08.1997	SIC Code	--
Telephone#	91-80-28361567 / 41171187	Business Style 1	Manufacturer, Importer and Exporter of all types of Heat Exchangers, Transformers, Radiators and Other Heat Exchangers Systems.
Fax #	91-80-28360304	Business Style 2
Homepage	http://www.mpptechnologies.com	Product Name 1	Transf Tank
# of employees	200 Approximately	Product Name 2	Panel Doors
Paid up capital	Rs. 48,883,200	Product Name 3	--
Shareholders	Directors or relatives of Directors 98.43%	Banking	State Bank of India
Public Limited Corp.	--	Business Period	14 years
IPO	--	International Ins.	-
Public Enterprise	--	Rating	B (34)
Related Company
Relation	--	Company Name	--
Note	-

2. Summary Financial Statement

Balance Sheet as of	31.03.2009		(Unit: Indian Rs.)
Assets		Liabilities
Current Assets	243,572,000	Current Liabilities	139,572,000
Inventories	81,101,000	Long-term Liabilities	207,435,000
Fixed Assets	169,777,000	Other Liabilities	7,898,000
Deferred Assets	0	Total Liabilities	354,905,000
Invest& other Assets	827,000	Retained Earnings	91,489,000
		Net Worth	140,372,000
Total Assets	495,277,000	Total Liab. & Equity	495,277,000
Total Assets (Previous Year)	457,953,000
P/L Statement as of	31.03.2009		(Unit: Indian Rs.)
Sales	721,400,000	Net Profit	28,200,000
Sales(Previous yr)	582,000,000	Net Profit(Prev.yr)	27,200,000

MIRA INFORM REPORT

Report Date :

03.10.2011

IDENTIFICATION DETAILS

Name :	mpp technologies private limited
Registered Office :	487/C, 4^th Phase, 14^th Cross, Peenya Industrial Estate, Bangalore – 560 058, Karnataka
Country :	India
Financials (as on) :	31.03.2009
Date of Incorporation :	08.08.1997
Com. Reg. No.:	08-22626
Capital Investment / Paid-up Capital :	Rs. 48.883 Millions
CIN No.: [Company Identification No.]	U31909KA1997PTC022626
TAN No.: [Tax Deduction & Collection Account No.]	BLRM01402C
PAN No.: [Permanent Account No.]	AABCM8851H
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer, Importer and Exporter of all types of Heat Exchangers, Transformers, Radiators and Other Heat Exchangers Systems.
No. of Employees :	200 Approximately

RATING & COMMENTS

MIRA’s Rating :

B (34)

RATING		STATUS	PROPOSED CREDIT LINE
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory

Maximum Credit Limit :	USD 561480
Status :	Moderate
Payment Behaviour :	Unknown
Litigation :	Clear
Comments :	Subject is an established company having moderate track. The management has not filed the latest financials of the company with the government departments. However, trade relations are reported as fair. Business is active. Payments are unknown. The company can considered for business dealings with some caution.

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)
India	A1	A1

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

LOCATIONS

Registered Office :	487/C, 4^th Phase, 14^th Cross, Peenya Industrial Estate, Bangalore – 560 058, Karnataka, India
Tel. No.:	91-80-28361567 / 41171187
Fax No.:	91-80-28360304
E-Mail :	info@ttpraditors.com mvprasanna@ttpradiators.com devaraj@mpptechnolgies.com
Website :	http://www.mpptechnologies.com
Corporate Office :	A 153 and 154, III Cross, 1^st Stage, Peenya Industrial Estate, Bangalore - 560 058, Karnataka, India
Tel. No.:	91-80-839 4918 / 839 5179
Fax No.:	91-80-839 4304
Factory :	B-233, 2^nd Stage, Peenya Industrial Estate, Bangalore - 560 058, Karnataka, India
Tel. No.:	91-80-836 1567
Fax No.:	91-80-836 2704

DIRECTORS

AS ON 30.09.2010

Name :	Mr. Mohandas Dejoo Shetty
Designation :	Managing Director
Address :	No. 41, Kuteera 80, Feet Road, New Thippasandra Post, Bangalore – 560 075, Karnataka, India
Date of Birth/Age :	24.11.1943
Qualification :	BE (Mech), MS (USA)
Experience :	26 Years
Date of Appointment :	08.08.1997
DIN No.:	00924611

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	U31909KA1982PTC004963	TTP Technologies Private Limited	Managing director	22/09/1982	22/09/1982	-	Active	YES
2	U31909KA1997PTC022626	MPP Technologies Private Limited	Managing director	08/08/1997	08/08/1997	-	Active	YES

Name :	Mr. Malleshaiah Devarajaiah
Designation :	Director
Address :	No. 228, 15^th Cross, 2^nd Stage, 2^nd Phase, Mahalakshmi Layout, Bangalore – 560 086, Karnataka, India
Date of Birth/Age :	24.05.1954
Date of Appointment :	31.03.1998
DIN No.:	00628413

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	U31909KA1997PTC022626	MPP Technologies Private Limited	Director	31/03/1998	31/03/1998	-	Active	YES
2	U31909KA1982PTC004963	TTP Technologies Private Limited	Director	31/03/1998	31/03/1998	-	Active	YES
3	U31909KA1986PTC007664	Paragon Metalex Private Limited	Director	31/03/1998	31/03/1998	-	Active	YES

Name :	Mr. Hannah Mohandas Shetty
Designation :	Director
Address :	No. 41, Kuteera 80, Feet Road, New Thippasandra Post, Bangalore – 560 075, Karnataka, India
Date of Birth/Age :	12.04.1948
Date of Appointment :	08.08.1997
DIN No.:	00628512

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	U31909KA1982PTC004963	TTP Technologies Private Limited	Director	22/09/1982	22/09/1982	-	Active	YES
2	U31909KA1986PTC007664	Paragon Metalex Private Limited	Managing director	20/06/1986	20/06/1986	-	Active	YES
3	U24222KA1996PTC020822	Protective Coatings Private Limited	Managing director	16/07/1996	16/07/1996	-	Active	NO
4	U31909KA1997PTC022626	MPP Technologies Private Limited	Director	08/08/1997	08/08/1997	-	Active	YES

Name :	Mrs. Susheela Bujanga Hegde
Designation :	Director
Address :	# 14, Church Street, Shanthi Nagar, Bangalore – 560 026, Karnataka, India
Date of Birth/Age :	29.03.1923
Date of Appointment :	08.08.1997
DIN No.:	00628587

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	U31909KA1986PTC007664	Paragon Metalex Private Limited	Director	20/06/1986	20/06/1986	-	Active	YES
2	U31909KA1997PTC022626	MPP Technologies Private Limited	Director	08/08/1997	08/08/1997	-	Active	YES

Name :	Mr. AP Krishna Kumar Krishna
Designation :	Director
Address :	# 20, Skanda, 1^st Main Road, Baiaji Layout, Vidyaranyapura, Bengaluru – 560 097, Karnataka, India
Date of Birth/Age :	21.09.1959
Date of Appointment :	09.02.2007
DIN No.:	01979117

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	U31909KA1997PTC022626	MPP Technologies Private Limited	Additional director	09/02/2007	09/02/2007	-	Active	YES

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 30.09.2010

Names of Shareholders	No. of Shares
Mohandas D. Shetty	261760
Hannah M. Shetty	160000
Renee M. Shetty	3500
Ashok D. Shetty	500
Malleshaiah Devarajaiah	500
Harishchandra D. Shetty	50
Shivarudraiah	50
Saraswathi A Shetty	50
Pushpalatha H Shetty	50
Sameer Shetty	54882
Devi Shanthala Br.	50
Sathyendra Sujatha	50
Sathyendra	50
Rajendra	50
Saraswathi Rajendra	50
AP Kriahna Kumar	50
NN Shyamala	50
Thamme Gowda	50
Shashikala Shivarudraiah	50
Harish C Panth	6540
TTP Technologies Private Limited, Karnataka	500
Total	488832

AS ON 30.09.2010

Category	Percentage
Directors or relatives of Directors	98.43
Other top fifty shareholders	1.57
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer, Importer and Exporter of all types of Heat Exchangers, Transformers, Radiators and Other Heat Exchangers Systems.

Products :

Product Description	ITC Code
Transf Tank	360813003
Panel Doors	341018007

PRODUCTION STATUS

(AS ON 31.03.2009)

Particulars	Unit	Actual Production (Including Labour Charges)
Control Panel Components	Nos. and Kgs	864274.45
Stator Stacks and Pole Bricks, DBR Assembly	Nos.	9278
Transformer Tank and FWT (Local)	Nos. and Kgs	364895.56
Transformer Tank and FWT (Export)	Nos. and Kgs	102173
Door and Door Frames	Nos.	21595
Scrap	Kgs	702125

GENERAL INFORMATION

Suppliers :

· M/s Arvee Chemicals

· Protective Coatings Private Limited

· Jyothi Engineering Components

· LPV Paints

· SLV Industries

· Spring Star Industries

· Vishva Shilpi Industries

· Premier Timbers

Customers :

· Bharat Heavy Electricals Limited

· ABB Limited

· Crompton Greaves Limited

No. of Employees :

200 Approximately

Bankers :

• State Bank of India, MID Corporate Loan, Administration Unit, No.61, Residency Plaza, Residency Road, Bangalore – 560 025, Karnataka, India
• State Bank of India, Specialised MID Corporate Branch, No. 97, Railway Parallel Road, Kumarapark West, Bangalore 560020, Karnataka, India

Facilities :

SECURED LOAN		Rs. In Millions 31.03.2009		Rs. In Millions 31.03.2008
From State Bank of India
Cash Credit (Including Bills Discounted) (secured by pledge / hypothecation of raw materials, semi finished goods and finished goods, bils, book debts and other receivables)		93.169		95.446
Medium Term Loan (secured by equitable mortgage of land and building at Plot No. 81 Antharasanahalli, Tumkur and Land and Building at A – 153 and 154, I Stage, Peenya Industrial Estate, Bangalore 58 and Machinery Purchases therefrom)		77.809		85.565
From Others
Vehicles Loan (Secured by hypothecation of vehicles purchased )		0.143		0.424
Total		171.121		181.435
Note: In Addition to the above securities, additional securities have been taken as under: By State Bank of India · Personal Guarantee from two Directors · Equitable Mortgage of Land and Building at B 233, A 153 and 154 at II and I Stage, Peenya Industrial Estate, Bangalore. · Equitable Mortgage of KIADB Land and Building at Plot No. 81, Antharasana Halli, on National High Way No. 4, Tumkur.
UNSECURED LOAN	Rs. In Millions 31.03.2009		Rs. In Millions 31.03.2008
From Directors	4.813		0.027
From Crompton Greaves Limited	24.000		24.000
From Others	7.500		7.500
Total	36.313		31.527

Banking Relations :	--
Auditors :
Name :	K. G. Jaisimha Chartered Accountant
Address :	766, Sri Nivasa 36^th Cross, 18^th Main, 4^th Block, Jayanagar, Bangalore – 560041, Karnataka, India
Associates/Subsidiaries :

CAPITAL STRUCTURE

AS ON 31.03.2009

Authorised Capital :

No. of Shares	Type	Value	Amount
500000	Equity Shares	Rs.100/- each	Rs. 50.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
488832	Equity Shares	Rs.100/- each	Rs. 48.883 Millions

Note – 1,00,000 Equity Shares are allotted as fully paid-up pursuant to a contract without payments being received in cash

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2009	31.03.2008	31.03.2007
SHAREHOLDERS FUNDS
1] Share Capital		48.883	51.886	18.767
2] Share Application Money		0.000	0.000	8.120
3] Reserves & Surplus		91.489	60.322	33.089
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		140.372	112.208	59.976
LOAN FUNDS
1] Secured Loans		171.122	181.436	90.848
2] Unsecured Loans		36.313	31.527	18.338
TOTAL BORROWING		207.435	212.963	109.186
DEFERRED TAX LIABILITIES		7.898	5.146	0.734
TOTAL		355.705	330.317	169.896
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		169.777	189.683	63.770
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		0.556	0.556	0.000
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	81.101	98.129	55.346
	Sundry Debtors	165.669	119.219	83.712
	Cash & Bank Balances	17.652	8.756	1.457
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	60.251	41.503	36.084
Total Current Assets		324.673	267.607	176.599
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	87.483	109.928	57.928
	Other Current Liabilities	14.714	1.159	5.652
	Provisions	37.375	16.549	7.024
Total Current Liabilities		139.572	127.636	70.604
Net Current Assets		185.101	139.971	105.995
MISCELLANEOUS EXPENSES		0.271	0.107	0.131
TOTAL		355.505	330.317	169.896

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2009	31.03.2008	31.03.2007
	SALES
		Income	721.400	582.000	416.300
		Other Income	9.700	5.000	3.500
		TOTAL (A)	731.100	587.000	419.800
Less	EXPENSES
		TOTAL (B)	643.600	531.600	390.200
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (C)		87.500	55.400	29.600
Less/ Add	DEPRECIATION/ AMORTISATION (D)		35.700	14.300	9.000
	PROFIT BEFORE TAX (E)		51.800	41.100	20.600
Less	TAX (F)		23.600	13.900	7.000
	PROFIT AFTER TAX (E-F) (G)		28.200	27.200	13.600
	EARNINGS IN FOREIGN CURRENCY
		Export Earnings	169.777	119.249	73.702
	IMPORTS
		Raw Materials	5.002	3.460	3.627
		Stores & Spares	2.667	5.026	1.055
		Consumables	3.032	1.415	1.981
		Capital Goods	18.325	71.310	14.927
		Others	0.000	0.152	0.190
	TOTAL IMPORTS		29.026	81.363	21.780
	Earnings Per Share (Rs.)		57.61	145.11	72.26

KEY RATIOS

PARTICULARS		31.03.2009	31.03.2008	31.03.2007
PAT / Total Income	(%)	3.85	4.63	3.24
Net Profit Margin (PBT/Sales)	(%)	7.18	7.06	4.95
Return on Total Assets (PBT/Total Assets}	(%)	10.51	7.06	8.57
Return on Investment (ROI) (PBT/Networth)		0.36	0.36	0.35
Debt Equity Ratio (Total Liability/Networth)		2.47	3.03	2.99
Current Ratio (Current Asset/Current Liability)		2.32	2.09	2.50

LOCAL AGENCY FURTHER INFORMATION

FINANCIAL PERFORMANCE

Sales Turnover

During the year under report the company achieved Net Sales of RS. 721.400 millions, registering a growth of 23.95% over the previous year.

Profitability

Profit for the year before depreciation, interest and taxation was Rs.29.600 millions as compared to Rs.12.200 millions in the previous year. Net Profit after tax margin improved from 1.45% to 2.95%. Implementation of improved process technology and cost control measures significantly increased operating margins. The company recorded a profit before depreciation, interest and taxation of Rs. 55.400 millions as compared to Rs. 59.800 millions in the previous year, thereby improving EBIDTA Margins from 11.44% and to 15.21% Net Profit after Tax margin improved from 3.24% to 4.67% the company continues with itd rigorous cost restructuring exercises, optimum utilization of available resources and right sizing in almost all areas. They are confident of sustaining this improved profitability in the coming years.

FORM 8

Corporate identity number of the company	U31909KA1997PTC022626
Name of the company	mpp technologies private limited
Address of the registered office or of the principal place of business in India of the company	487/C, 4^th Phase, 14^th Cross, Peenya Industrial Estate, Bangalore – 560 058, Karnataka, India
This form is for	Modification of charge
Type of charge	Immovable property Book debts Movable property (not being pledge) Others
Particular of charge holder	State Bank of India, Specialised MID Corporate Branch, No. 97, Railway Parallel Road, Kumarapark West, Bangalore 560020, Karnataka, India Email: jsurya@vsnl.com
Nature of instrument creating charge	Supplemental agreement of hypothecation of goods and assets for increase in the overall limit Letter regarding the grant of individual limits within the overall limit Memorandum of deposit for creation of further charge for term loan (all the documents relate to the same modification)
Date of instrument Creating the charge	26.04.2011
Amount secured by the charge	Rs. 398.500 millions
Brief of the principal terms an conditions and extent and operation of the charge	Terms of repayment WC : Repayable on demand Margin CC : 25% LC : 20% LC : 20% TL V : 27.21% BG : 20% Extent and operation of the charge Charge extends by way of first charge on all the assets throughout the period of sanctioned limits. Other Corporate Guarantee of M/s. TTP Technologies Private Limited, Bangalore offered EM of House property situated at L-120, HAL III Stage, Bangalore belonging to Mrs. Hannah M Shetty EM of House property situated at No. 41, 80 Feet Road, HAL 3rd Stage, Indiranagar, Bangalore belonging to Mr. M.D. Shetty.
Short particulars of the property charged (Including location of the property)	Hypothecation of the whole of the present and future stocks of raw materials, stocks in process, finished goods, semi finished goods, book debts, outstanding monies, receivables, claims, bills, plant and machineries and other current assets belonging to the company. EM on co's immovable properties comprising of land and building situated at B-233, II Stage, Peenya Industrial Estate, Bangalore EM on co's immovable properties comprising of Industrial Shed No. A-153 and A-154, 3rd Cross, 1st Stage, Peenya Industrial Estate, Bangalore EM on cos immovable properties of factory land and building situated at No. 81, KIADB Industrial Area, Anthrasanahalli, Tumkur EM on co's immovable properties comprising of Plot No. 48 and 49, KIADB Industrial Estate, Antharasanahalli, Tumkur
Date of instrument modifying the charge	13.10.2010
Particulars of the present modification	Total limits enhanced from Rs. 292.6 millions to Rs. 398.5 million. EM on co's immov prop land and building situated at B-233, II Stage, Peenya Industrial Estate, Bangalore, Industrial Shed No. A-153 and A-154, 3rd Cross, 1st Stage, Peenya Industrial Estate, Bangalore, factory land and building situated at No. 81, KIADB Industrial Area, Antharasanahalli, Tumkur and Plot No. 48 and 49, KIADB Industrial Estate, Antharasanahalli, Tumkur. All other terms, conditions and existing securities to continue.

FIXED ASSETS

· Land and Building

· Furniture and Fixtures

· Plant and Machinery

· Tools and Equipments

· Office Equipments

· Computer and Peripherals

· Type Writer

· Vehicles

· Cycle

· Material Lift

CMT REPORT (Corruption, Money Laundering & Terrorism]

The Public Notice information has been collected from various sources including but not limited to: The Courts, India Prisons Service, Interpol, etc.

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. 48.92
UK Pound	1	Rs. 76.52
Euro	1	Rs. 66.64

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	4
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	4
--RESERVES	1~10	4
--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	YES
--AFFILIATION	YES/NO	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
TOTAL		34

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	-

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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.