MIRA
INFORM REPORT
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Report Date : |
13.04.2012 |
IDENTIFICATION DETAILS
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Name : |
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Registered
Office : |
Gat No.1556, Plot No.14/9, |
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Country : |
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Financials (as
on) : |
31.03.2012 |
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Year of
Establishment : |
1996 |
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Capital
Investment / Paid-up Capital : |
Rs.10.000 Millions |
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Legal Form : |
Sole Proprietory Concern |
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Line of Business
: |
Manufacturer of Pressure Vessels and Skids. |
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No. of Employees
: |
50 (Approximately) |
RATING & COMMENTS
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MIRA’s Rating : |
Ba (48) |
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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 40000 |
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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 a well established proprietory
concern having satisfactory track. The concern is doing well. Trade relations
are reported as fair. Business is active. Payments are reported to be usually
correct 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.
INFORMATION PARTED BY
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Name : |
Mr. Vijay |
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Designation : |
Accounts Department |
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Contact No.: |
91-20-66306634 |
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Date : |
13.04.2012 |
LOCATIONS
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Registered Office/ Factory 1: |
Gat No.1556, Plot No.14/9, Dehu Alandi Road, Chikhali, Pune – 412114, Maharashtra,
India |
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Tel. No.: |
91-20-66306634/ 32 |
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Fax No.: |
Not Available |
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E-Mail : |
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Area : |
11000 sq. ft. |
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Location : |
Owned |
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Factory 2: |
Gat No.69, Plot No. 5 & 6 Jyotiba Nagar, Talawade, Pune – 412114, Maharashtra,
India |
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Tel. No.: |
91-20-27692658/ 27690747 |
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Fax No.: |
91-20-29690747 |
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Area : |
6000 sq. ft. |
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Location : |
Owned |
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Factory 2: |
Rupee Nagar, Talwade,
Pune – 412114, Maharashtra,
India |
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Location : |
Rented |
SOLE PROPRIETOR
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Name : |
Mr. Ravindra M. Pathak
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Designation : |
Proprietor |
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Date of Birth/Age : |
38 years |
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Qualification : |
Engineer |
KEY EXECUTIVES
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Name : |
Mr. Vijay |
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Designation : |
Accounts Department |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of Pressure Vessels and Skids. |
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Exports : |
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Products : |
Pressure Vessels and Skids |
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Countries : |
· Italy · Middle East · UK |
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Imports : |
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Products : |
Raw Materials |
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Countries : |
Korea |
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Terms : |
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Selling : |
Cash and Credit |
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Purchasing : |
Cash and Credit |
GENERAL INFORMATION
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Suppliers : |
· Oil Palm Limited |
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Customers : |
Wholesalers, Retailers and End Users ·
Jain Carbide and Chemicals Limited Direct Customer ·
Shri Bajrang Power
and Ispat Limited ·
Ispat Godavari
Limited ·
Shree Nakoda Ispat Limited ·
Shyam Century Ferrous Limited ·
Hira Ferro Alloys Limited ·
Jain Carbide and Chemicals Limited ·
Singhal Enterprises
Private Limited ·
Advent Engg. ·
R. R. Energy Private Limited ·
Jagdamba Power and
Alloys Limited ·
Msp Sponge Iron Limited ·
Shiv Shakti Steel
Private Limited ·
Jsw Steel Limited ·
Godawari Power and Ispt Limited ·
Gallantt Metal Limited ·
Bkwt Trading and Invest Limited They Have Worked
With Following OEM's And Supplied To Various Clients ·
Thermax Limited ·
National Heavy Engg.
Co-op Limited ·
Isgec John Thompson ·
Veesons Energy System
Private Limited ·
Texmaco Limited ·
Thermal Systems (Hyd)
Private Limited ·
Walchandnagar Industries
Limited Clients (Boiler
Blow Down Heat Recovery System)
·
Albright and Wilson Chemicals India Limited ·
Sudarshan Chemical
Industries Limited ·
The Dharmasi Morarji Chemical Co. Limited Clients (Energy
Saving Hot ·
Acronica Electroplaters,
Pune. ·
Kalyani Breaks Limited
25 Tanks - Steam Heating. Supplied To
Following Clients Trough Oem's · Ruchi Soya Limited · Kool Breweries · Godrej Soaps Limited · Oil Palm Limited · Tvs Suzuki Limited · Arham Industries Limited · Indian Rayon Equipments Limited · Apollo Tyres Limited · Reliance Industries Limited · Hindustan Lever Limited · Indian Oil Corporation Limited · Nestle India Limited Overseas Client
( Supplied Through Oem ) · Bermister and Wanes · Van Ommeron · African Textile · Burrup Fertiliser · Nestle · JSC TAIF · Technip · HSD Engine They have worked
with consultants like · Konark Metcoke - Under "Mecon" · Reliance Refinery and Bombay Dyaing - Under "Chemtex" · Square Textile - Under "Kpg" · Shyam Century Ferrous Limited, - Under "Akb Power Consultants." · Shree Nakoda Ispat Limited, - Under "Aquatherm Engg., Chennai" · Iocl, Haldia Under "Bv " · Tata Sponge Limited - Under " M. N. Dastoor and Company, Chennai" · All Isgec Projects Under "Quest" · All Nhec Projects Under "N.F.C.S.F." · AKB Power Consultants Limited, Kolkata · Chemtex Global Engineers Private Limited, Mumbai · M N Dastoor and Co Limited, Mumbai · Bureau Veritas Limited, Pune · Kavernar Power Gas Limited · Shaktipunj Engineers Private Limited, Raipur · BEXT Limited, Pune |
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No. of Employees : |
50 (Approximately) |
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Bankers : |
· Union Bank of India Pune, Maharashtra,
India |
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Facilities : |
Cash/ Credit = Rs.30.000 Millions |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Mahashabdhe Thite and
Associates Chartered Accountant |
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Address : |
Pune, Maharashtra,
India |
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Associates/Subsidiaries : |
· Thermoline Marketing (Private) Limited, Pune |
CAPITAL STRUCTURE
(AS ON 31.03.2012)
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Capital Investment : |
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Owned : |
Rs.10.000 Millions |
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Borrowed : |
-- |
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Total : |
Rs.10.000 Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
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Particulars |
31.03.2012 |
31.03.2011 |
31.03.2010 |
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Sales Turnover (Approximately) |
250.00 |
130.000 |
72.500 |
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The above information has been parted by Mr. Vijay.
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 Report (Yes/ No) |
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Year of Establishment |
Yes |
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Locality of the Firm |
Yes |
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Constitution of the Firm |
Yes |
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Premises details |
Yes |
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Type of Business |
Yes |
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Line of Business |
Yes |
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Promoter’s Background |
Yes |
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No. of Employees |
Yes |
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Name of Person Contacted |
Yes |
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Designation of Contact person |
Yes |
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Turnover of Firm for last three years |
Yes |
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Profitability for last three years |
No |
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Reasons for variation <> 20% |
----- |
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Estimation for coming financial year |
No |
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Capital in the business |
Yes |
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Details of sister concerns |
Yes |
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Major Suppliers |
Yes |
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Major Customers |
Yes |
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Payments Terms |
Yes |
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Export/ Imports Details (If applicable) |
Yes |
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Market Information |
----- |
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Litigations that the firm/ Promoters Involved in |
----- |
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Banking details |
Yes |
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Banking Facility Details |
Yes |
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Conduct of the Banking Account |
----- |
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Buyer visit details |
----- |
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Financials, if provided |
Yes |
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Incorporation details is applicable |
No |
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Last Accounts filed at ROC |
No |
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Major Shareholders, if available |
No |
TRADE REFERENCE:
·
Jain Carbide and Chemicals Limited
· Oil Palm Limited
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
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Indian Rupees |
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US Dollar |
1 |
Rs.51.44 |
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|
1 |
Rs.81.96 |
|
Euro |
1 |
Rs.67.61 |
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 |
6 |
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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 |
6 |
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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 |
YES |
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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 |
|
48 |
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
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>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 |
|
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.