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Report Date : |
02.04.2012 |
IDENTIFICATION DETAILS
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Name : |
DIESEL LOCO MODERNISATION WORKS |
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Registered
Office : |
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Country : |
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Year of Establishment
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1961 |
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Capital
Investment / Paid-up Capital : |
Not Available |
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Legal Form : |
Government Owned Entity |
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Line of Business
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Manufacturing of various traction machines and engine blocks. |
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No. of Employees
: |
Not Available |
RATING & COMMENTS
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MIRA’s Rating : |
A |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is an established workshop of Indian Railways, Government of
India engaged in manufacturing of various traction machines and engine
blocks. Trade relations are reported as fair. Payments are reported to be
regular ans as per commitments. Subject being a government entity 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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India |
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 |
LOCATIONS
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Registered Office : |
Tilak Bridge, New Delhi – 110002, Delhi, India |
NOTE: Telephone Numbers are not available.
SOLE PROPRIETOR/PARTNERS/DIRECTORS
NOT AVAILABLE
BUSINESS DETAILS
|
Line of Business : |
Manufacturing of various traction machines and engine blocks. |
LOCAL AGENCY FURTHER INFORMATION
INTRODUCTION
· Introduction
of Diesel Locomotives on the Indian Railways started in late 50’s, with the
import of locomotives from M/s.
In
the earlier years of diesel operation, a limited demand of spares was met by
Diesel Locomotive Works, Varanasi mainly through import, but the demand
increased with the increasing size and age of the fleet.
·
It was in the context of the need for high precision components for maintenance
support to the diesel fleet, that in the year 1979, a decision was taken to set
up Diesel Component Works at Patiala. The Foundation Stone of Diesel
Component Works (DCW),
HISTORY
SUBJECT was set up in 1981 with the assistance of World Bank. At that time Industries in India were not fully developed to manufacture diesel engine precision components to carry out the remanufacturing of various traction machines and engine blocks. SUBJECT started the components manufacturing in 1986 along with the remanufacturing of traction machines and engine blocks. Need was also felt for rebuilding of locomotives to enhance performance of locomotives by incorporating latest technological upgradations and all RDSO modifications. It was expected that with the rebuilding of locos after 18 years, the locos would become fuel efficient, shall haul heavier loads and shall be fitted with latest modern less maintenance intensive sub-assemblies and assemblies. Accordingly the rebuilding was started in SUBJECT in 1989. The shops which were set up for component manufacturing and remanufacturing of traction machines and engine blocks are under Phase-I of the project. The major shops in Phase-I are:
Shops set up under Phase-I of the project are called
manufacturing shops
Shops which came up in
Phase-II i.e. when the facilities were being created for rebuilding of
locomotives are under Phase-II and the shops are:
Shops set up under Phase-II of the project are called
Rebuilding shops
PRODUCT
SUBJECT PRODUCT RANGE
SUBJECT
is engaged to manufacture various diesel components along with rebuilding of
diesel electric locomotives and power packs. The activities and products are
given below:
ROLE OF SUBJECT IN
THE GROWTH OF INDIAN RAILWAYS
SUBJECT had been rebuilding about 72 Locomotives from 1992-93 to
2005-2006. To meet the challenges of increased traffic, SUBJECT enhanced the
productivity of the workshop and was able to rebuild 86 Locomotives in 2006-07,
102 Locos in 2007-08 and 108 Locos in 2008-09.
SUBJECT has achieved a Record Breaking Performance of 112 Locos in
2009-10.
During rehabilitation, latest sub-assemblies like Microprocessor Control
System, AC-DC power transmission, Fuel Efficient Engine Kits, Roller Bearing
Suspension System and Traction Motors are fitted and up-gradation of Horse Power
of Locomotive from 2600 HP to 3100/3300 HP is done. This ensures that the trip
schedules of Locos are extended to 30/40
days and Locos give better reliability, availability, improved performance
during service with better fuel efficiency.
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SALIENT FEATURES
OF SUBJECT |
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· ISO 9001:2000 and
ISO 14001:2004 Certified Production Unit |
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· Total workforce on
roll is 3783 including 87 officers. |
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· Workshop area (m2) |
837936 |
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· Covered area in
shops (m2) |
88194 |
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· Township area (m2) |
1416800 |
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· Electrical Energy
Consumption (lacs of units/year) |
200 |
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· Total staff quarters |
1767 |
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· No. of beds in
Hospital |
30 |
PRESENT ACTIVITIES AT SUBJECT
· Rehabilitation,
Upgradation and Modernisation of Diesel Locos.
· Supplying new Power
Packs to Parel Workshop and Remanufactured Power Packs to Zonal Railways.
· Supplying Motorized
Wheel sets to Zonal Railways.
· Supply of rehabilitated
Engine Blocks and Traction Machines to Zonal Railways.
· Supplying 240 types of
high precision and critical components to Zonal Railways as Maintenance
support.
· Nodal Agency for
Rehabilitation of high HP Turbos.
· Supply of all types of
Carbon Brushes of Diesel Locos to Zonal Railways.
WORKSHOP
FACILITIES AVAILABLE AT SUBJECT
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Shops set up under Phase-I of the project are called Manufacturing
Shops |
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· Light Machine Shop · Heat Treatment Shop · Traction Machine Shop · Heavy Machine Shop |
· Cylinder Liner Shop · Carbon Brush Shop · Plant Maintenance Shops · Tool Room |
Shops set up under Phase-II of the project are called Rebuilding shops
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· Loco Rebuilding Shop |
· Transmission Repair Shop |
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· Power Pack Shop |
· Air Brake and Pipe Shop |
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· Bogie Shop |
· Loco Test and Paint Facilities |
·
SUBJECT PRODUCTION
· SUBJECT
PRODUCTION PERFORMANCE OVER THE LAST TEN YEARS
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SUBJECT Production
in numbers and money value |
||||||||
|
Year |
No.of Locos rebuilt |
Number of
subassemblies remanufactured |
Value of items
manufactured in
LMS
(in Cr. of Rs.) |
Number of Carbon
Brushes produced (In Lacs ) |
||||
|
Power packs |
Engine Blocks |
TM Armature |
TG Armature |
Cylinder Liners |
||||
|
2000-01 |
64 |
76 |
126 |
800 |
156 |
7976 |
41.8 |
5.5 |
|
2001-02 |
63 |
79 |
123 |
871 |
121 |
7826 |
40.8 |
5.9 |
|
2002-03 |
73 |
79 |
121 |
848 |
110 |
8047 |
45.8 |
5.9 |
|
2003-04 |
73 |
85 |
127 |
864 |
124 |
8004 |
46.4 |
5.2 |
|
2004-05 |
74 |
87 |
132 |
864 |
125 |
8402 |
51.2 |
5.3 |
|
2005-06 |
73 |
93 |
160 |
872 |
135 |
8450 |
64.5 |
6.0 |
|
2006-07 |
86 |
112 |
172 |
956 |
127 |
9101 |
76.1 |
5.4 |
|
2007-08 |
102 |
136 |
187 |
1050 |
97 |
10051 |
81.5 |
5.5 |
|
2008-09 |
108 |
139 |
192 |
1276 |
64 |
10534 |
87.7 |
6.1 |
|
2009-10 |
112 |
156 |
211 |
1423 |
39 |
8565 |
117.29 |
4.8 |
OVERALL PRODUCTION
VALUE
PRODUCTION
PERFORMANCE DURING 2009-10
During 2009-10, performance of SUBJECT has been the best ever since its
inception. SUBJECT has achieved highest production figures in all major areas
of activities, i.e. Loco Rebuilding, Power Pack Assemblies, Supply of Motorised
Wheel Sets, Remanufacture of Traction Motors etc.
SUBJECT has rebuilt 112 locos and achieved Turn Over of Rs. 8530.000
Millions in 009-10 - first time in its history.
Production
performance vis-ŕ-vis Targets fixed for the year has been as under:
|
S. No. |
Item |
Target 2009-10 |
Out turn 2009- 10 |
%age improvement |
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1. |
Locomotives Rebuilt |
108 |
112 |
4 |
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2. |
Power Packs (for ZRs) |
12 |
26 |
117 |
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3. |
Power Packs (Total) |
144 |
156 |
8 |
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4. |
Motorised Wheel Sets |
300 |
370 |
23 |
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5. |
TM assemblies |
1100 |
1276 |
16 |
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6. |
TM Magnet Frames |
1150 |
1322 |
15 |
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7. |
TM Armatures |
1100 |
1423 |
29 |
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8. |
Total out turn (in Rs.Cr.) |
674.26 |
852.95 |
27 |
UP-GRADATION OF
LOCOMOTIVE DURING REBUILDING:
SUBJECT has turned out 04 nos. Locos after
up-gradation from 2600 HP to 3300 HP Microprocessor Control Rebuilt Locomotives
during the financial year 2009-10. The major modifications incorporated in
these locos include 3300 HP Power Pack with 18mm Fuel Injection Pump, New
Engine Block, Microprocessor Control System, Microprocessor Control Governor,
Red Brass Mechanical Bonded Radiator for improved cooling, Roof Mounted Dynamic
Brake Resistance, capable for self-load testing to dissipate
3300 HP during the self-load box.
IMPROVEMENTSAND
UP-GRADATIONS IMPLEMENTED and PLANNED ON REBUILT LOCOMOTIVES FOR ENHANCED AND
IMPROVED PERFORMANCE:
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The following performance enhancement and technological
upgradations have already been implemented on all Rebuilt Locomotives in
2009-10 : |
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1. |
3 RV Piston Kit along with 3 RV Cylinder Liner |
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2. |
Roof Mounted Dynamic Brake Resistance |
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3. |
18 mm Fuel Injection Pump |
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4. |
Double ferrule fittings in air brake pipes |
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5. |
Pre-lubrication feature on Locomotive |
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6. |
Heat shrinkable tube on cable terminals |
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7. |
Pressure switches RT-200 PBX in place of RT-116 |
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8. |
Gear case with TPU seal |
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9. |
Improved FIP tube with auto frettage |
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10. |
De-aerator in lieu of bubble collector |
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11. |
Exhaust manifold thermal insulation kit |
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12. |
EMD type auto drain valve |
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13. |
Modified hand brake |
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Following technological up-gradations have been planned on at least
30% of Rebuilt Locomotives in 2010-11: |
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1. |
500 AH Batteries |
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2. |
Aero quip hoses in fuel oil circuit |
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3. |
EMD type cut-out cocks |
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4. |
Self Cleaning lube oil filters |
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5. |
Axle box with CRU bearings |
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6. |
REMMLOT System |
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7. |
Extended Range Dynamic Braking |
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8. |
LCD Display on control stand (DIALS) |
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9. |
ATHS fabricated bogies |
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10. |
EMD type modified dresser coupling |
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11. |
Computer Controlled brakes (with roof mounted DBR) |
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12. |
Disposable type car body filters with louvers |
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13. |
Polycarbonate glass for cab and window |
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14 |
Improved fuel relief and regulating valves |
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15 |
Sealed conduits for cables |
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16 |
EMD type headlight |
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17 |
Electronic fuel level sensor |
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18 |
Modified air reservoir |
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19 |
FRP type cover over FIP |
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20 |
Non-metallic axle box crown liner |
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21 |
Improved stick type master controller |
PRESS RELEASE
Patiala, 26thJanuary,
2012
63rd Republic Day was celebrated
at Diesel Loco Modernisation Works, Patiala, a Production Unit of Indian Railways.
Shri A. K. Kansal , Chief Administrative Officer hoisted the national flag and
took salute from contingent of Railway Protection Force and Bharat Scouts
and Guides. This was followed by cultural programme presented by the
students of Kendriya Vidyalaya and SUBJECT Public School, Patiala.
Paying rich tributes to martyrs, Shri Kansal reminded SUBJECT staff that, qualities like patriotism , hard work, unity, mutual co-operation and justice are the need of the hour to preserve hard earned “Freedom”
Shri. Kansal while addressing, lauded the performance of
SUBJECT employees for achieving the highest ever production figure in just nine
months of the year by surpassing the target of Rs. 7662.600 Millions by
919.300 Millions during financial year 2011-12. SUBJECT has been assigned
to manufacture 25 new ALCO Locomotives, out of which 12 Locomotives have been
manufactured upto Dec. 2012 . SUBJECT has been entrusted the task of
manufacturing 50 New Locomotives during financial year 2012-13.
In the arena of sports also, SUBJECT has
scaled new heights. SUBJECT Basketball team won gold medal in 17th
Baba Farid Gold Cup Basketball.
While concluding, he appealed to all SUBJECT employees
to maintain National Integration and harmony and continuously strive to improve
the quality and production at minimum cost, After the function, sweets were
distributed among the children. Fruits were distributed among the patients by
Mrs Neeru Kansal President of SUBJECT Women’s Welfare Organization, along with
other members of the organization in SUBJECT Hospital.
CMT REPORT (Corruption, Money Laundering and Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No 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.51.15 |
|
|
1 |
Rs.81.79 |
|
Euro |
1 |
Rs.68.34 |
RATING EXPLANATIONS
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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 and 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 |
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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.