MIRA
INFORM REPORT
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Report Date : |
20.10.2011 |
IDENTIFICATION DETAILS
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Name : |
UMA SURGICALS |
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Registered
Office : |
102/103, Auto Commerce House, Next To |
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Country : |
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Financials (as
on) : |
31.03.2011 |
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Year of
Establishment : |
1980 |
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Capital Investment
/ Paid-up Capital : |
Rs.3.500 millions |
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Legal Form : |
Sole Proprietory Concern |
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Line of Business
: |
Manufacturer of Orthapaedic, Spine and Maxillofacial Implants and
Surgical, Instruments. |
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No. of Employees
: |
Approximately 75 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba (46) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 140000 |
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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 Proprietory concern having satisfactory track.
Trade relations are reported as fair. Business is active. Payments are
reported 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
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Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
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A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
INFORMATION PARTED BY
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Name : |
Mr. Girish Vijay Gangan |
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Designation : |
Chief operating officer |
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Contact No.: |
91-9821878979 |
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Date : |
13.10.2011 |
LOCATIONS
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Registered Office : |
102/103, Auto Commerce House, Next to |
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Tel. No.: |
91-22-23876015 / 23877076 / 23856015 / 23855627 |
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Mobile No.: |
91-9821878979 (Mr. Girish Vijay Gangan) |
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Fax No.: |
91-22-23877076 |
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E-Mail : |
umasurgics@vsnl.net info@umasurgicals.com |
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Website : |
www.umasurgicals.com |
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Area : |
650 Sq.fts |
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Location : |
Owned |
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Factory : |
124/128, paras
Industrial Estate, Navghar, Vasai (East), District Thane, |
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Area : |
1000 Sq.fts |
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Location : |
Owned |
SOLE PROPRIETOR
(AS ON 31.03.2011)
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Name : |
Mr. Vijay P Gangan |
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Designation : |
Proprietor |
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Qualification : |
BE Civil |
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·
Bachelors of Engineering (Civil) from Walchand
College of Engineering, a premier engineering institute in ·
Executive development program of Jamnalal
Bajaj Institute of Management from a.
Marketing Management b.
International Marketing Management c.
Financial Management |
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Experience : |
·
Years in · 3 years in consulting engineer with WS ATKINS Private Limited, Kolkata on various projects. · 6 years as Manager in Instruments Orthopedic (Manufacturer of Implants and Instruments) in Mumbai. · 13 years of partnership after foundation of Uma Surgicals along with financial partner. · Over 10 years of proprietorship of M/s. Uma Surgicals from 1994 onwards. |
KEY EXECUTIVES
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Name : |
Mr. Girish V. Gangan |
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Designation : |
Chief Operating Officer |
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Qualification : |
·
Masters of Science in Industrial and Systems
Engineering from Georgia Institute of Technology, ·
Bachelors of Engineering in Production Engineering
from one of the premier Institute affiliated with |
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Experience : |
· Graduate Engineer with Mahindra and Mahindra Limited, Mumbai – July, 1999 to May, 2000. · Sales Executive with Uma Surgicals – June, 2000 to June 2001. ·
Utility Analyst at Georgia Institute of
Technology, ·
Logistics Analyst with Georgia-Pacific
Corporation, Consumer Product Division, |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of Orthapaedic, Spine and Maxillofacial Implants and
Surgical, Instruments. |
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Products : |
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Exports : |
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Products : |
Surgical Instruments. |
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Countries : |
Srilanka and |
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Terms : |
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Selling : |
L/C and Cash. |
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Purchasing : |
L/C and Cash. |
GENERAL INFORMATION
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Customers : |
Wholesalers,
Retailers and End Users |
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No. of Employees : |
Approximately 75 |
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Bankers : |
·
HDFC Bank, Nana Chowk, Mumbai, · ICICI Bank, Opera House ·
Bank of Maharashtra, Nana Chowk, Mumbai, |
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Facilities : |
Cash Credit facilities of Rs. 0.100 Millions |
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Banking
Relations : |
--- |
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Auditors : |
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Name : |
Kolhatkar and Dandekar Chartered Accountants |
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Address : |
Opposite Stock
Exchange, Mumbai – 400 001, |
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Associates/Subsidiaries : |
S K Surgical Address: 102/103, Auto Commerce House, Next to |
CAPITAL STRUCTURE
(As On 31.03.2011)
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Capital Investment : |
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Owned : |
Rs.3.500 millions |
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Borrowed : |
--- |
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Total : |
Rs.3.500 millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
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Particulars |
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31.03.2011 |
31.03.2010 |
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Sales Turnover (approximately) |
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35.000 |
32.000 |
Expected Sales (2011-2012) : Rs.40.000 millions
The above information has been parted by Mr. Girish V. Gangan
Note : Sole Proprietory and Partnership concerns are
exempted from filing their financials with the Government Authorities or
Registry Records.
LOCAL AGENCY FURTHER INFORMATION
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Check List by
Info Agents |
Available in
reports |
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1) Year of
Establishment |
Yes |
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2) Locality of
the Firm |
Yes |
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3) Constitution
of the Firm |
Yes |
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4) Premises
Details |
Yes |
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5) Type of
Business |
Yes |
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6) Line of
Business |
Yes |
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7) Promoter’s
Background |
--------- |
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8) No. of
Employees |
Yes |
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9) Name of
person contacted |
Yes |
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10) Designation
of contact person |
Yes |
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11) Turnover of
firm of last two years |
Yes |
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12) Profitability
for last three years |
No |
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13) Reasons for
variations <> 20% |
No |
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14) Estimation
for coming financial year |
Yes |
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15) Capital in
the business |
Yes |
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16) Details of
Sister concern |
Yes |
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17) Major
Suppliers |
No |
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18) Major Customers |
No |
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19) Payments
terms |
Yes |
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20) Export /
Import details (if applicable) |
Yes |
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21) Market
Information |
--------- |
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22) Litigation
that the firm / promoter involved |
--------- |
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23) Banking
Details |
Yes |
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24) Banking facility
Details |
Yes |
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25) Conduct of
the banking account |
--------- |
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26) Buyer visit
details |
--------- |
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27) Financials,
if provided |
No |
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28)
Incorporation details, if applicable |
---------- |
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29) Last account
field at ROC |
---------- |
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30) Major
Shareholders, if available |
---------- |
website details:-
Company Profile
The concern manufacture, contract manufacture and export Orthopaedic (trauma) Implants, Spine Implants, Maxillofacial Implants, Surgical Instruments and External Fixators since 1980. They are an ISO 9001:2000 certified organization and has sculpted a respectable status in health care industry. Their CE certified product range certifies quality standards maintained.
Incepted in the year 1980, under the leadership of Dr. A.K.
Talwalkar, a well renowned Indian Orthopedic, the company has grown leaps and
bounds. Catering to well known surgeons, elite hospitals, private nursing homes
and institutions, distributors throughout
Their strong engineering background can serve customized implants and instruments required for difficult and non-standard surgeries. They have a conducive and strong Dealer Network to distribute their goods through out domestic and international territory.
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.49.17 |
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|
1 |
Rs.77.49 |
|
Euro |
1 |
Rs.67.96 |
SCORE & RATING EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
6 |
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PAID-UP CAPITAL |
1~10 |
5 |
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OPERATING SCALE |
1~10 |
5 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
5 |
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--PROFITABILIRY |
1~10 |
5 |
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--LIQUIDITY |
1~10 |
5 |
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--LEVERAGE |
1~10 |
5 |
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--RESERVES |
1~10 |
5 |
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--CREDIT LINES |
1~10 |
5 |
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--MARGINS |
-5~5 |
--- |
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DEMERIT POINTS |
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--BANK CHARGES |
YES/NO |
no |
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--LITIGATION |
YES/NO |
no |
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--OTHER ADVERSE INFORMATION |
YES/NO |
no |
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MERIT POINTS |
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--SOLE DISTRIBUTORSHIP |
YES/NO |
no |
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--EXPORT ACTIVITIES |
YES/NO |
yes |
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--AFFILIATION |
YES/NO |
YES |
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--LISTED |
YES/NO |
no |
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--OTHER MERIT FACTORS |
YES/NO |
yes |
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TOTAL |
|
46 |
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 |
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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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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.