1. Summary Information
|
|
|
Country |
|
|
Company Name |
FILCON
ELECTRONICS PRIVATE LIMITED |
Principal Name 1 |
Mr. Satish Chandrashekaraiah |
|
Status |
Moderate |
Principal Name 2 |
Ms. Vanitha Bikkodu Isami Gowda |
|
|
|
Registration # |
08-3402 |
|
Street Address |
392, 4th Phase, 10th Cross, Peenyha Industrial
Area, Bangalore-560058, |
||
|
Established Date |
06.11.1978 |
SIC Code |
-- |
|
Telephone# |
91-80-27832805/
91-8110-395022 |
Business Style 1 |
Manufactures |
|
Fax # |
91-80-2783285 |
Business Style 2 |
-- |
|
Homepage |
Product Name 1 |
Polystyrene Capacitors, |
|
|
# of employees |
-- |
Product Name 2 |
Poly Propylene Capacitors |
|
Paid up capital |
Rs.7,500,000/- |
Product Name 3 |
-- |
|
Shareholders |
Directors or relatives of
directors-100% |
Banking |
Syndicate Bank |
|
Public Limited Corp. |
NO |
Business Period |
33 years |
|
IPO |
NO |
International Ins. |
- |
|
Public |
NO |
Rating |
Ca
(15) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
-- |
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2010 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
5,244,000 |
Current Liabilities |
3,350,000 |
|
Inventories |
6,808,000 |
Long-term Liabilities |
11,338,000 |
|
Fixed Assets |
6,115,000 |
Other Liabilities |
354,000 |
|
Deferred Assets |
000 |
Total Liabilities |
15,042,000 |
|
Invest& other Assets |
394,000 |
Retained Earnings |
2,316,000 |
|
|
|
Net Worth |
3,519,000 |
|
Total Assets |
18,561,000 |
Total Liab. & Equity |
18,561,000 |
|
Total Assets (Previous Year) |
20,547,000 |
|
|
|
P/L Statement as of |
31.03.2010 |
(Unit: Indian Rs.) |
|
|
Sales |
NA |
Net Profit |
NA |
|
Sales/ Total Turnover(Previous yr) |
14,389,000 |
Net Profit(Prev.yr) |
(3,732,000) |
MIRA
INFORM REPORT
|
Report Date : |
05.09.2011 |
IDENTIFICATION DETAILS
|
Name : |
FILCON ELECTRONICS PRIVATE LIMITED |
|
|
|
|
Registered Office : |
392, 4th Phase, 10th Cross, Peenyha Industrial Area,
Bangalore-560058, Karnataka |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.03.2010 |
|
|
|
|
Date of Incorporation : |
06.11.1978 |
|
|
|
|
Com. Reg. No.: |
08-3402 |
|
|
|
|
Capital
Investment/ Paid-up Capital: |
Rs.7.500
Millions |
|
|
|
|
CIN No.: [Company
Identification No.] |
U32109KA1978PTC003402 |
|
|
|
|
IEC No.: |
0788002244 |
|
|
|
|
Legal Form : |
Private
Limited Liability Company |
|
|
|
|
Line of Business : |
Manufacturers of Polystyrene Capacitors, Poly Propylene Capacitors,
Metallised Polyester Capacitor finding application in communication channel
filters, RC Circuits, Turning Capacitors in wave trap Circuits, decoupling
etc. |
|
|
|
|
No. of Employees: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca (15) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having moderate track. There appear
huge accumulated losses recorded by the company. Profitability of the company
is under severe pressure. However, trade relations are reported as fair.
Business is active. Payments are reported to be slow. The company can be considered for business dealings on a secured trade
terms and conditions. Latest Profit and loss of the company is not available . |
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) |
|
|
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 : |
392, 4th Phase, 10th Cross, Peenyha Industrial
Area, Bangalore-560058, |
|
Tel. No.: |
Not Available |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
|
|
|
Corporate Office : |
4/1, 1st Floor, Third Cross, opposite Kaveri Nursing Home, Madivala, Bangalore-560068,
Karnataka, India |
|
Tel. No.: |
91-80-25530324 / 25521657 |
|
|
|
|
Factory 1: |
237/A-5, KIADB Industrial Area, Phase-3, Bommasandra,
Bangalore-560099, |
|
Tel. No.: |
91-80-27832805/ 91-8110-395022 |
|
Fax No.: |
91-80-2783285 |
|
Area : |
Rented |
|
Location : |
10000 Sq. ft |
|
|
|
|
Accounts and Administration Office : |
94, Second Cross, Second Block, Koramangala, Bangalore-560034, |
|
Tel. No.: |
91-80-25521657 /25530324 |
DIRECTORS
As on 30.09.2010
|
Name : |
Mr. Satish Chandrashekaraiah |
|
Designation : |
Director |
|
Address : |
No.318, 13th Cross, 2nd Stage, |
|
Date of Birth/Age : |
04.04.1965 |
|
Date of Appointment : |
21.04.2007 |
|
DIN No.: |
02055765 |
|
|
|
|
Name : |
Ms. Vanitha Bikkodu Isami Gowda |
|
Designation : |
Director |
|
Address : |
115, Elephant, |
|
Date of Birth/Age : |
10.04.1970 |
|
Date of Appointment : |
10.05.2007 |
|
DIN No.: |
02044806 |
|
|
|
|
Name : |
Mr. Kathikere Ningappa Chandrashekaraiah |
|
Designation : |
Additional Director |
|
Address : |
No.318, 13th Cross, 2nd Stage, |
|
Date of Birth/Age : |
18.05.1941 |
|
Date of Appointment : |
29.09.2008 |
|
DIN No.: |
01798097 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2010
|
Names of Shareholders |
|
No. of Shares |
|
Prakash Hangarkatta Rao |
|
100 |
|
Satish Chandrashekaraiah |
|
19186 |
|
C. Prathiba |
|
6000 |
|
S.R. Lalithamba |
|
6000 |
|
Vanitha Bikkodu Isami Gowda |
|
6000 |
|
M. Nagarajan |
|
6000 |
|
K.N. Prasanna Kumar |
|
11314 |
|
K.N. Chandrashekaraiah |
|
19400 |
|
K.C. Shyla |
|
1000 |
|
Total |
|
75000 |
Equity Share Breakup (Percentage of Total Equity)
(AS ON 30.09.2010)
|
Category |
|
Percentage |
|
|
|
|
|
Directors or relatives of directors |
|
100.00 |
|
|
|
|
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturers of Polystyrene Capacitors, Poly Propylene Capacitors,
Metallised Polyester Capacitor finding application in communication channel
filters, RC Circuits, Turning Capacitors in wave trap Circuits, decoupling
etc. |
PRODUCTION STATUS AS ON (As on 31.03.2010)
|
Particulars |
Unit |
|
|
Actual
Production |
|
Capacitors |
Nos. |
|
|
19,24,377 |
GENERAL INFORMATION
|
Bankers : |
|
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Facilities : |
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Banking
Relations : |
--- |
|
|
|
|
Auditors : |
|
|
Name : |
Subhashchandra P Kudari and Company Chartered Accountant |
|
Address : |
No. 15, 1st Cross, 1st Main, Nehru Nagar, Bangalore-560020,
|
|
Pan No.: |
AAQPK6897D |
CAPITAL STRUCTURE
AS ON 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
100000 |
Equity Share |
Rs.100/- Each |
Rs. 10.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
75000 |
Equity Share |
Rs.100/- Each |
Rs.7.500
Millions |
|
|
|
|
|
(Previous year 75,000 Equity shares of Rs.
100/-each fully paid up)
(of the above 20000 shares have been issued as
Bonus Shares out of revaluation reserve and 2650 Shares have been issued as
Bonus Shares out of accumulated reserves)
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 |
7.500 |
7.500 |
7.500 |
|
|
2] Share Application Money |
2.000 |
2.000 |
2.000 |
|
|
3] Reserves & Surplus |
2.316 |
2.316 |
2.316 |
|
|
4] (Accumulated Losses) |
(8.297) |
(5.736) |
(2.002) |
|
|
NETWORTH |
3.519 |
6.080 |
9.814 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
6.558 |
7.102 |
6.799 |
|
|
2] Unsecured Loans |
4.780 |
3.526 |
4.605 |
|
|
TOTAL BORROWING |
11.338 |
10.628 |
11.404 |
|
|
DEFERRED TAX LIABILITIES |
0.354 |
0.625 |
0.184 |
|
|
|
|
|
|
|
|
TOTAL |
15.211 |
17.333 |
21.402 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
6.115 |
7.239 |
8.289 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.394 |
0.394 |
0.394 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
6.808
|
7.570 |
7.536
|
|
|
Sundry Debtors |
3.217
|
3.843 |
4.600
|
|
|
Cash & Bank Balances |
0.182
|
0.130 |
1.499
|
|
|
Other Current Assets |
0.000
|
0.000 |
0.000
|
|
|
Loans & Advances |
1.845
|
1.371 |
2.292
|
|
Total
Current Assets |
12.052
|
12.914 |
15.927
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
2.271
|
2.194 |
2.481
|
|
|
Other Current Liabilities |
1.079
|
0.984 |
0.653
|
|
|
Provisions |
0.000
|
0.036 |
0.074
|
|
Total
Current Liabilities |
3.350
|
3.214 |
3.208
|
|
|
Net Current Assets |
8.702
|
9.700 |
12.719
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
15.211 |
17.333 |
21.402 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
14.389 |
19.040 |
|
|
|
Other Income |
|
|
0.390 |
|
|
|
TOTAL
|
|
14.389 |
19.430 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
17.645 |
19.811 |
|
|
|
Depreciation |
|
|
|
|
|
|
Interest |
|
|
|
|
|
|
TOTAL |
|
17.645 |
19.811 |
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
|
(3.256) |
(0.381) |
|
|
|
|
|
|
|
|
|
Less |
TAX |
|
0.476 |
0.023 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
|
(3.732) |
(0.404) |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
|
0.237 |
NA |
|
|
TOTAL EARNINGS |
|
NA |
NA |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
|
4.732 |
4.887 |
|
|
|
Capital Goods |
|
0.000 |
3.909 |
|
|
TOTAL IMPORTS |
|
4.732 |
8.796 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
|
(49.76) |
-- |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
NA |
(23.43) |
(2.08) |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
NA |
NA |
(2.00) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
NA |
(0.54) |
(1.57) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
NA |
(0.54) |
(0.04) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
4.17 |
2.27 |
2.46 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
3.60 |
4.02 |
4.96 |
LOCAL AGENCY FURTHER INFORMATION
The Registered office of the company has been shifted from 62 A,
Bankers Charges
Report as per Registry
|
Corporate identity
number of the company |
U32109KA1978PTC003402 |
|
Name of the
company |
FILCON
ELECTRONICS PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
392, 4th Phase, 10th Cross, Peenyha Industrial
Area, Bangalore-560058, |
|
This form is for |
Modification of
charge |
|
Charge
identification number of the charge to be modified |
10099015 |
|
Type of charge |
Book Debts Movable Property Floating Charge |
|
Particular of
charge holder |
Syndicate Bank, 703, 3rd Block, Opp. BDA Complex,
Koramangala, Bangalore-560034, |
|
Nature of instrument
creating charge |
Composite
Hypothecation Agreement |
|
Date of
instrument Creating the charge |
03.02.2011 |
|
Amount secured by
the charge |
Rs. 6.000
millions |
|
Brief of the principal
terms an conditions and extent and operation of the charge |
Rate of Interest BR+4.75% p.a.
presently at 14.25% p.a. Terms of
Repayment SODH – Running
account repayable on demand Margin 25% Extent and
Operation of the charge The charge shall
operate to the extent of the loan amount plus interest commission costs
expenses and other charges thereon. |
|
Short particulars
of the property charged |
First charge by
way of hypothecation of capacitors stocks, bookdebts and other movable stored
at company premises at no. 392, 10th in Cross, III phase, Peenya
Industrial Estate, Peenya Bangalore 560058 or at any other place. |
|
Date of
instrument modifying the charge |
15.03.2008 |
|
Particulars of
the present modification |
By the above, the
amount secured by charge stands enhanced from Rs. 4.500 Millions to Rs. 6.000
Millions (All other terms and conditions remain unchanged) |
|
Name of the company |
FILCON
ELECTRONICS PRIVATE LIMITED |
|
Presented By |
Senior Manager,
Syndicate Bank, Koramangala Branch, |
|
1) Date and description of instrument creating the change |
26th
March 2005 A] Composite
Hypothecation Agreement B] Omnibus
Counter Guarantee |
|
2) Amount secured by the charge/amount owing on the securities of charge |
SOD – Rs. 4.500
Millions FLC Rs. 1.200
Millions BG Rs. 0.300
Million Total Rs. 6.000
Millions |
|
3) Short particular of the property charged. If the property acquired is subject to charge, date of the acquired of the property should be given |
Hypothecation of
Polyester film capacitors raw-materials, imported indigenous semi finished
and finished goods stored at No. 62A, |
|
4) Gist of the terms and conditions and extent and operation of the charge. |
Receivables of
present and future outstanding. Second Charge on
fixed assets o the company consisting of factory land and building and plant
and machinery. Interest at 1.75
% p.a. over the above Syndicate Banks PLR rising or falling from time to time
as per RBI directive. Present rate
12.75 % p.a. |
|
5) Name and Address and description of the person entitled to the charge. |
Syndicate Bank, 703, III Block, Opposite BDA Complex, Koramangala Branch, |
|
6) Date and brief description of instrument modifying the charge |
N.A. |
|
7) Particulars of modifications specifying the terms and conditions or the extent of operations of the charge in which modification is made and the details of the modification. |
N.A. |
|
This form is for |
Creation of
charge Modification of
charge |
|
Corporate
identity number of the company |
U31200KA1978PTC003402 |
|
Name of the
company |
FILCON
ELECTRONICS PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
No.237/A-5, KIADB
Industrial Area, Phase III, Bommasandra, |
|
Type of charge |
Movable
property |
|
Particular of
charge holder |
mSyndicate Bank,
# 703, 3rd Block, Opp: Bda Complex,
Koramangala, |
|
Nature of
description of the instrument creating or modifying the charge |
Composite
Hypothecation Agreement |
|
Date of
instrument Creating the charge |
28/03/2008 |
|
Amount secured by
the charge |
Rs. 3.000
Millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest 14.5% Per Annum
Being 1.5% Over And Above The Syndicate Bank's Prime Lending Rate With
Monthly/Quarterly Rests. Terms of
Repayment First Emi Of
Rs.0.072 Million Being Due On Or Before 28.04.2008 And Subsequent Emi's At
The Same Rate Due In Every Month On Or Before 28th And Last Emi Of Rs.0.072
Million Being Due On Or Before 28.02.2013 Margin 25% Extent and Operation
of the charge Term Loan |
|
Short particulars
of the property charged |
Hypothecation of
Auto Winding Machine For Film/Foil Capacitor, Auto Winding Machine For
Metalized Film Capacitor, Auto Dipping Machine, Semi Auto Printing Machine,
Semi Auto Welding Machine Stored At # 237/A5, Kiadb Industrial Area, Phase
Iii, Bommasandra, Bangalore. |
Fixed Assets:
v
Machinery
v
Computer
v
Electrical Fittings / Installations
v
Leasehold Improvement
Furniture and Fitting
Electrical
Fittings / Installations
Machinery
v
Test / Measuring Equipments
v
Tools and Fixtures
v
Office Equipment
v
Generator
v
Furniture and Fitting
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.45.90 |
|
|
1 |
Rs.74.31 |
|
Euro |
1 |
Rs.65.41 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
2 |
|
OPERATING SCALE |
1~10 |
2 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
2 |
|
--PROFITABILIRY |
1~10 |
-- |
|
--LIQUIDITY |
1~10 |
2 |
|
--LEVERAGE |
1~10 |
2 |
|
-RESERVES |
1~10 |
2 |
|
--CREDIT LINES |
1~10 |
-- |
|
--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 |
|
15 |
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.