MIRA
INFORM REPORT
|
Report Date : |
31.10.2011 |
IDENTIFICATION DETAILS
|
Name : |
DEE TEE INDUSTRIES LIMITED (w.e.f. 28.03.1995) |
|
|
|
|
Formerly Known
As : |
DEWAS TOOLS PRIVATE LIMITED |
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|
|
|
Registered
Office : |
28/33, Pologround, Industrial Estate, Indore-452 006, Madhya Pradesh |
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Country : |
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|
|
Financials (as
on) : |
31.03.2010 |
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|
Date of
Incorporation : |
18.05.1974 |
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|
Com. Reg. No.: |
10-1274 |
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Capital
Investment / Paid-up Capital : |
Rs.24.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U34300MP1974PLC001274 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
BPLD01292E / BPLD00342G |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACD6052G |
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|
Legal Form : |
A Closely Held Public Limited Liability Company |
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|
Line of Business
: |
Manufacture of international quality industrial tools. |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (46) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 300000 |
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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 records.
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.
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 |
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Restricted |
C2 |
|
Off-credit |
D |
LOCATIONS
|
Registered Office/ Administrative Office / Factory / RMR Division
(Unit 2) : |
28/33/32, Pologround Industrial Estate, Indore-452006, |
|
Tel No.: |
91-731-2422101 / 2422104 / 4296888 |
|
Fax No.: |
91-731-2422108
/ 4296809 / 2720302 |
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E-Mail : |
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Website : |
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Tooling Division (Unit 1) |
Plot No.29, Pologround Industrial Estate, Indore-452006, Madhya
Pradesh, |
|
Tel. No.: |
91-731-4296777 |
|
Fax No.: |
91-731-4296766/ 2422108 |
|
|
|
|
Branches : |
Located At: ·
·
Jaipur ·
Ahmedabad ·
Kolkata ·
Mumbai ·
Pune ·
·
·
Chennai |
DIRECTORS
As On 29.09.2010
|
Name : |
Mr. Ardhya Baheti |
|
Designation : |
Director |
|
Address : |
22, Old Palasia, Bombay Agara Road, Indore-452001, |
|
Date of Birth/Age : |
22.05.1980 |
|
Date of Appointment : |
28.12.2001 |
|
DIN No.: |
00660745 |
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 |
U02710MP1979PLC001501 |
Dewas Metal
Sections Limited |
Director |
30-10-01 |
30-10-01 |
- |
Active |
NO |
|
2 |
U34300MP1974PLC001274 |
Dee Tee
Industries Limited |
Director |
28-12-01 |
28-12-01 |
- |
Active |
NO |
|
3 |
U36102MP1987PTC004093 |
Decostyle
Technics Private Limited |
Director |
16-02-04 |
16-02-04 |
- |
Active |
NO |
|
Name : |
Mrs. Pushpa Bhagwan Goyal |
|
Designation : |
Director |
|
Address : |
149, Shri Nagar Main, Indore-452018, |
|
Date of Birth/Age : |
28.09.1950 |
|
Date of Appointment : |
29.10.2002 |
|
DIN No.: |
01331742 |
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 |
U34300MP1974PLC001274 |
Dee Tee
Industries Limited |
Director |
29-10-02 |
29-10-02 |
- |
Active |
NO |
|
2 |
U72200MP2009PTC022118 |
Zaffera
Softwares Private Limited |
Director |
08-07-09 |
08-07-09 |
- |
Active |
NO |
|
Name : |
Mr. Suresh Chandra Baheti |
|
Designation : |
Director |
|
Address : |
68, Narsingh Bazar, Indore-452002, |
|
Date of Birth/Age : |
10.10.1947 |
|
Date of Appointment : |
11.06.2007 |
|
DIN No.: |
00044747 |
Other Directoship
|
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 |
U17124MP1982PTC002037 |
Shreenath Textiles
Pvt Ltd |
Director |
27-08-82 |
27-08-82 |
- |
Active |
NO |
|
2 |
U34300MP1974PLC001274 |
Dee Tee
Industries Limited |
Director |
11-06-07 |
11-06-07 |
- |
Active |
NO |
KEY EXECUTIVES
|
Name : |
Mr. Babu Chacko |
|
Designation : |
Export Marketing Head |
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|
|
|
Name : |
Mr. Rajes Dubey |
|
Designation : |
Domestic Marketing Head |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 21.09.2010
|
Names of Shareholders |
|
No. of Shares |
|
Manoharlal Baheti |
|
120550 |
|
Sitadevi Baheti |
|
187200 |
|
Apurva Baheti |
|
40000 |
|
Aradhya Baheti |
|
786000 |
|
Deepali Goyal |
|
12000 |
|
Vishnu Bhagwan Goyal |
|
150 |
|
S P Tools and Processors Limited, |
|
366000 |
|
Shivali Goyal |
|
50 |
|
Divya Goyal |
|
50 |
|
Pushpa Bhagwan |
|
30000 |
|
P.G. Purohit |
|
80000 |
|
Shiv Priya Baheti |
|
150000 |
|
Suresh Baheti |
|
128000 |
|
Happy Collection Suitings Private Limited, |
|
150000 |
|
Shri May Fare Housing Finance Private Limited, |
|
150000 |
|
MKJ Securities Private Limited, |
|
100000 |
|
Macro Holdings Private Limited, |
|
100000 |
|
|
|
|
|
Total |
|
2400000 |
Equity Share Breakup (Percentage of Total Equity)
As on 30.09.2010
|
Category |
|
Percentage of
Holding |
|
Bodies corporate (not mentioned above) |
|
36.00 |
|
Directors or relatives of directors |
|
64.00 |
|
Total |
|
100.00 |
|
|
|
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BUSINESS DETAILS
|
Line of Business : |
Manufacture of international quality industrial tools. |
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Products : |
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Exports : |
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Countries : |
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PRODUCTION STATUS
As on 31.03.2010
Licensed Capacity
and Installed Capacity
|
Particulars |
Units |
|
Licensed
Capacity |
Installed
Capacity |
|
Machine Tools |
Nos. |
|
15145 |
53400 |
|
Rolls |
Nos. |
|
66020 |
30000 |
Actual Production
|
Particulars |
Unit |
|
|
Actual
Production |
|
Tools and Machinery and Rolls |
Nos. |
|
|
73050 |
GENERAL INFORMATION
|
Customers : |
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No. of Employees : |
Not Available |
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Bankers : |
State Bank of |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
M. Mehta and Company Chartered Accountant |
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Address : |
11/5, South Tukoganj, |
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Tel. No.: |
91-731-4065948 / 2511011 / 2511022 / 2431713 |
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Mobile No.: |
91-9826294918 |
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Fax No.: |
91-731-2523117 |
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E-Mail : |
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Website: |
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Associates : |
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Related Parties : |
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CAPITAL STRUCTURE
As on 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5000000 |
Equity Shares |
Rs. 10/- each |
Rs. 50.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2400000 |
Equity Shares |
Rs. 10/-
each |
Rs.24.000
Millions |
Note:
(Out of above Shares 880000 Equity Shares were
allotted as fully paid up bonus shares by capitalization of reserves. Including
800000 Equity Shares were allotted out of general reserve and rerevaluation
reserve)
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
24.000 |
19.000 |
19.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
51.121 |
41.974 |
32.756 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
75.121 |
60.974 |
51.756 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
83.169 |
40.689 |
45.142 |
|
|
2] Unsecured Loans |
35.892 |
31.343 |
23.043 |
|
|
TOTAL BORROWING |
119.061 |
72.032 |
68.186 |
|
|
DEFERRED TAX LIABILITIES |
6.157 |
4.492 |
3.172 |
|
|
|
|
|
|
|
|
TOTAL |
200.339 |
137.498 |
123.113 |
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|
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|
|
|
|
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APPLICATION OF FUNDS |
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|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
70.955 |
39.177 |
32.953 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.029 |
0.029 |
0.029 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
68.005
|
55.908
|
73.836 |
|
|
Sundry Debtors |
74.324
|
71.815
|
60.647 |
|
|
Cash & Bank Balances |
20.870
|
2.580
|
3.443 |
|
|
Other Current Assets |
0.000
|
0.000
|
0.000 |
|
|
Loans & Advances |
28.977
|
29.976
|
42.377 |
|
Total
Current Assets |
192.176
|
160.279
|
180.303 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
46.658
|
41.018
|
70.494 |
|
|
Other Current Liabilities |
16.163
|
16.218
|
16.928 |
|
|
Provisions |
0.000
|
4.751
|
2.750 |
|
Total
Current Liabilities |
62.821
|
61.987
|
90.172 |
|
|
Net Current Assets |
129.355
|
98.292
|
90.131 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
200.339 |
137.498 |
123.113 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Sales and Operational Income |
359.215 |
351.339 |
316.680 |
|
|
|
Other Income |
1.676 |
0.863 |
2.598 |
|
|
|
TOTAL (A) |
360.891 |
352.202 |
319.278 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Material |
204.175 |
198.942 |
181.085 |
|
|
|
Manufacturing |
74.500 |
74.697 |
85.019 |
|
|
|
Employees Remuneration and Benefits |
26.787 |
23.719 |
20.139 |
|
|
|
Office and Administrative |
6.272 |
5.138 |
3.800 |
|
|
|
Selling and Distribution |
18.829 |
14.508 |
12.274 |
|
|
|
Directors Remuneration |
0.575 |
0.532 |
0.420 |
|
|
|
Loss on |
0.537 |
0.056 |
0.561 |
|
|
|
Increase/ Decrease in Stock |
0.107 |
5.670 |
[6.445] |
|
|
|
TOTAL (B) |
331.782 |
323.262 |
296.853 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
29.109 |
28.940 |
22.425 |
|
|
|
|
|
|
|
|
|
Less |
INTEREST AND FINANCE
EXPENSES (D) |
9.419 |
9.831 |
8.256 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
19.690 |
19.109 |
14.169 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
5.824 |
3.855 |
3.014 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
13.866 |
15.254 |
11.155 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
4.719 |
6.036 |
3.971 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
9.147 |
9.218 |
7.184 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
34.779 |
25.561 |
18.376 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
43.926 |
34.779 |
25.560 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
88.330 |
97.633 |
55.324 |
|
|
|
Other Earnings |
0.718 |
0.636 |
0.812 |
|
|
TOTAL EARNINGS |
89.048 |
98.269 |
56.136 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
50.357 |
41.374 |
42.813 |
|
|
TOTAL IMPORTS |
50.357 |
41.374 |
42.813 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
3.81 |
4.85 |
3.78 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
2.53
|
2.62 |
2.25 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
3.86
|
4.34 |
3.52 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
5.27
|
7.65 |
5.23 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.18
|
0.25 |
0.22 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
2.42
|
2.20 |
3.06 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
3.06
|
2.59 |
2.00 |
LOCAL AGENCY FURTHER INFORMATION
PERFORMANCE AND FUTURE PROSPECTS:
The general recession in the economy and
industry has adverse effect on the profitability of the company. However, the
company expects better results in the forthcoming years.
CONTINGENT LIABILITIES:
|
Particulars |
31.03.2010 Rs. In Millions |
31.03.2009 Rs. In Millions |
|
A. Capital Commitments |
|
|
|
Estimated amount of contracts remaining to
be executed on capital account and not provided for |
11.700 |
3.199 |
|
B. Contingent Liability not provided for |
|
|
|
i) Guarantee given by bank on behalf of the
company |
3.716 |
3.000 |
|
ii) Income tax orders contested |
0.778 |
0.778 |
|
iii) Sales tax orders contested |
3.820 |
3.730 |
|
iv) In respect of partly paid-up shares |
0.025 |
0.025 |
FORM 8:
|
Corporate
identity number of the company |
U34300MP1974PLC001274 |
|
Name of the
company |
DEE TEE INDUSTRIES LIMITED |
|
Address of the registered
office or of the principal place of
business in |
28/33, Pologround, Industrial Estate, Indore-452006, E-Mail : sureshrai@deeteegroup.com
|
|
This form is for |
Modification of
charge |
|
Charge
identification number of the charge to be modified |
90203149 |
|
Type of charge |
|
|
Particular of
charge holder |
State Bank of E-Mail : vyasatul@sbi.co.in |
|
Nature of
instrument creating charge |
Agreement of Loan
cum Hypothecation dated 30.12.2010 Deposit of Title Deeds--Declaration
dated 30.12.2010 |
|
Date of
instrument Creating the charge |
30.12.2010 |
|
Amount secured by
the charge |
Rs.124.600
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest 1. Cash Credit
(Hypothecation)--14.10% 2.EPC/PSC(within
CC)--As per RBI/SBI directives 3. Book
Debts(within CC)--As per RBI/SBI directives 4. Term Loan
New--12.85% Terms of
Repayment 1. Cash Credit
(Hypothecation)--Payable on demand 2.EPC/PSC(within
CC)--Payable on demand 3. Book
Debts(within CC)--Payable on demand 4. Term Loan
New--The term loan will be repaid in 20 quarterly installments of Rs.0.655
Million each. repayment to commence from 31st December 2011 and the last
shall fall due on 30th September 2016 Margin 1. Cash Credit
(Hypothecation)-- 25%(Raw Material), 30% (SIP), 30% (FG) and 50%
(Receivables) 2.EPC/PSC(within
CC)--10% 3. Term Loan
New--24.73% 4. Letter of
Credit--10% Cash Margin 5. BG--15% Cash
Margin Extent and
Operation of the charge CC/LC/BG--Hypothecation
of stocks of raw material, SIP, FG, BD. Other current assets including
machinery stores and spares, consumable, goods in transit and/or stored/
lying at factory premises or at any other place approved by bank from time to
time including outstanding moneys BD and receivables. Term Loan
New--First charge over fixed assets (Plant and Machinery and other fixed
assets) already acquired out of bank finance CC/LC/BG/TL--first
charge over entire fixed assets of the company (present and future). |
|
Short particulars
of the property charged |
lease hold Plot
No. 29, Industrial Estate, Pologround, Lease hold Plot
No. 28 and 33, Industrial Estate, Pologround, |
|
Date of
instrument modifying the charge |
25.03.2010 |
|
Particulars of
the present modification |
The credit
facility increased from Rs.101.500 Millions to Rs.124.600 Millions (Fresh Term Loan
of Rs.13.100 Millions and increase Cash Credit Hypothecation loan limit is increased
by Rs.10.000 Million. Bank Guarantee limit Rs.5.000 Millions unchanged and
Letter of Credit Limit Rs.5.000 Millions are also unchanged.) |
FIXED ASSETS:
·
·
·
·
Plant and Machinery
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Furniture, Fixture and
Office Equipments
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Vehicles
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Computer
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] 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.48.82 |
|
|
1 |
Rs.78.57 |
|
Euro |
1 |
Rs.69.29 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
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 |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
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 |
|
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.