1. Summary Information
|
|
|
Country |
|
|
Company Name |
PREMIER NUTRACEUTICALS
PRIVATE LIMITED |
Principal Name 1 |
Mr. Arvind Shrinivasan Iyer |
|
Status |
Moderate |
Principal Name 2 |
Mr. Priyamvada Arvind Iyer |
|
|
|
Registration # |
11-139209 |
|
Street Address |
271, Tower ‘A’ |
||
|
Established Date |
18.02.2003 |
SIC Code |
-- |
|
Telephone# |
91-22-30845901 |
Business Style 1 |
Manufacturer |
|
Fax # |
Not Available |
Business Style 2 |
-- |
|
Homepage |
Product Name 1 |
Pharmaceutical formulation, |
|
|
# of employees |
Not Available |
Product Name 2 |
Tablets |
|
Paid up capital |
Rs.41,400,000/- |
Product Name 3 |
Syrups |
|
Shareholders |
Directors or
relatives of Directors – 100% |
Banking |
Bank
of |
|
Public Limited Corp. |
No |
Business Period |
9 Years |
|
IPO |
No |
International Ins. |
- |
|
Public |
No |
Rating |
B (30) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
CEO |
|
-- |
-- |
-- |
-- |
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2011 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
76,015,000 |
Current Liabilities |
54,824,000 |
|
Inventories |
18,965,000 |
Long-term Liabilities |
68,995,000
|
|
Fixed Assets |
74,361,000 |
Other Liabilities |
- |
|
Deferred Assets |
-- |
Total Liabilities |
123,819,000 |
|
Invest& other Assets |
9,000 |
Retained Earnings |
4,131,000 |
|
|
|
Net Worth |
45,531,000 |
|
Total Assets |
169,350,000 |
Total Liab. & Equity |
169,350,000 |
|
Total Assets (Previous Year) |
106,763,000 |
|
|
|
P/L Statement as of |
31.03.2011 |
(Unit: Indian Rs.) |
|
|
Sales |
207,331,000 |
Net Profit |
39,875,000 |
|
Sales(Previous yr) |
123,020,000 |
Net Profit(Prev.yr) |
36,935,000 |
MIRA
INFORM REPORT
|
Report Date : |
26.04.2012 |
IDENTIFICATION DETAILS
|
Name : |
PREMIER NUTRACEUTICALS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
271, Tower ‘A’ |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.09.2011 |
|
|
|
|
Date of
Incorporation : |
18.02.2003 |
|
|
|
|
Com. Reg. No.: |
11-139209 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs.41.400 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24230MH2003PTC139209 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of pharmaceutical formulation, tablets, syrups, ointments, calcium tablets b-12 etc. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (30) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 180000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having moderate track. Profitability
appears to be low. Trade relations are reported as fair. Business is active.
Payments are reported to be slow. The company can be considered for business dealings with some
cautions. |
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 |
|
Restricted |
C2 |
|
Off-credit |
D |
LOCATIONS
|
Registered Office : |
271, Tower ‘A’ |
|
Tel. No.: |
91-22-30845901 |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Corporate Office : |
714/715 MIDS, |
|
Tel. No.: |
91-22-30845900 / 30823309 |
|
Fax No.: |
91-22-28268229 |
|
E-Mail : |
|
|
|
|
|
Factory : |
Plot No.33, |
|
E-Mail : |
|
|
|
|
|
Zonal Office : |
Shreyas Siddhi Apartments, Plot No. 180, B-17B, Bajaja Nagar, Above
Advocate ‘Ajay Mohgaokar Office’ |
|
E-Mail : |
DIRECTORS
As on 30.09.2011
|
Name : |
Mr. Arvind Shrinivasan Iyer |
||||||||||||||||||||||||||||||||||||
|
Designation : |
Managing Director |
||||||||||||||||||||||||||||||||||||
|
Address : |
Flat No.131, C-Wing, Kalpataru, |
||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
27.03.1962 |
||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
18.02.2003 |
||||||||||||||||||||||||||||||||||||
|
DIN No.: |
01375173 |
||||||||||||||||||||||||||||||||||||
|
Other
Directorship
|
|||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||
|
Name : |
Mr. Priyamvada Arvind Iyer |
||||||||||||||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||||||||||||||
|
Address : |
Flat No.131, C-Wing, Kalpataru, |
||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
14.01.1965 |
||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
18.02.2003 |
||||||||||||||||||||||||||||||||||||
|
DIN No.: |
01377052 |
||||||||||||||||||||||||||||||||||||
|
Other
Directorship
|
|||||||||||||||||||||||||||||||||||||
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2011
Equity Share
|
Names of Shareholders |
|
No. of Shares |
|
Arvind Shrinivasan Iyer |
|
2690000 |
|
Priyamvada Arvind Iyer |
|
310000 |
|
Total |
|
3000000 |
Preference Shares
|
Names of Shareholders |
|
No. of Shares |
|
Girdhari R. Tulsani |
|
570000 |
|
Ekta Girdhari Tulsani |
|
570000 |
|
Total |
|
1140000 |
As on 30.09.2011
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of pharmaceutical formulation, tablets,
syrups, ointments, calcium tablets b-12 etc. |
|
|
|
|
Products : |
|
|
|
|
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
|||||||||||||||||||||
|
|
|
|||||||||||||||||||||
|
Bankers : |
Bank of |
|||||||||||||||||||||
|
|
|
|||||||||||||||||||||
|
Facilities : |
(Rs.
In Millions)
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Christopher D;Souza and Associates Chartered Accountants |
|
Address : |
2, Witsend, 70-D, |
|
Tel. No.: |
91-22-26430078 / 26436292 / 64204401 |
|
Mobile No.: |
91-9833597056 |
|
Fax No.: |
91-22-26402923 |
|
Website : |
|
|
PAN.: |
AAEFC3349L |
CAPITAL STRUCTURE
As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
7500000 |
Equity Shares |
Rs.10/- each |
Rs.75.000 Millions |
|
2500000 |
Preference Shares |
Rs.10/- each |
Rs.25.000 Millions |
|
|
Total |
|
Rs.100.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3000000 |
Equity Shares |
Rs.10/- each |
Rs.30.000
Millions |
|
1140000 |
Preference Shares |
Rs.10/- each |
Rs.11.400
Millions |
|
|
Total |
|
Rs.41.400 Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
41.400 |
41.400 |
30.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
4.131 |
0.020 |
0.000 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
45.531 |
41.420 |
30.000 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
48.995 |
26.135 |
15.290 |
|
|
2] Unsecured Loans |
20.000 |
0.000 |
11.431 |
|
|
TOTAL BORROWING |
68.995 |
26.135 |
26.721 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
114.526 |
67.555 |
56.721 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
74.361 |
30.578 |
30.425 |
|
|
Capital work-in-progress |
0.000 |
17.743 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
18.965
|
22.754 |
8.460 |
|
|
Sundry Debtors |
46.139
|
10.581 |
12.083 |
|
|
Cash & Bank Balances |
17.750
|
12.664 |
12.546 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
12.126
|
12.430 |
6.277 |
|
Total
Current Assets |
94.980
|
58.429 |
39.366 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
|
|
|
Other Current Liabilities |
|
|
|
|
|
Provisions |
15.690
|
7.951 |
2.918 |
|
Total
Current Liabilities |
54.824
|
39.208 |
17.420 |
|
|
Net Current Assets |
40.156
|
19.221 |
21.946 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.009 |
0.013 |
0.017 |
|
|
Others (Reserves and Surplus) |
0.000 |
0.000 |
4.333 |
|
|
|
|
|
|
|
|
TOTAL |
114.526 |
67.555 |
56.721 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
207.331 |
123.020 |
77.275 |
|
|
|
Other Income |
1.045 |
1.864 |
0.871 |
|
|
|
TOTAL (A) |
208.376 |
124.884 |
78.146 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Inclining Increase / (Decrease)
in Stock of Finished Goods Office Expenses |
(9.545) |
11.616 |
0.282 |
|
|
|
Other Expenses |
146.582 |
75.121 |
51.842 |
|
|
|
TOTAL (B) |
147.037 |
86.737 |
52.130 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
61.339 |
38.147 |
26.016 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
5.773 |
1.971 |
4.027 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
55.566 |
36.176 |
21.989 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/ AMORTISATION (F) |
4.677 |
3.641 |
3.750 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
50.889 |
32.535 |
18.239 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
11.014 |
5.600 |
3.290 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
39.875 |
26.935 |
14.949 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
0.020 |
(4.333) |
(19.282) |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Dividend |
30.768 |
19.500 |
0.000 |
|
|
|
Tax on Dividend |
4.996 |
3.082 |
0.000 |
|
|
BALANCE CARRIED
TO THE B/S |
4.131 |
0.020 |
(4.333) |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
9.63 |
-- |
-- |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
19.14
|
21.57 |
19.13 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
24.54
|
26.45 |
23.60 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
30.05
|
36.55 |
26.13 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
1.12
|
0.79 |
0.61 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
2.72
|
1.58 |
1.47 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.73
|
1.49 |
2.26 |
LOCAL AGENCY FURTHER INFORMATION
|
Check List by Info Agents |
Available in Report (Yes / No) |
|
1) Year of Establishment |
Yes |
|
2) Locality of the firm |
Yes |
|
3) Constitutions of the firm |
Yes |
|
4) Premises details |
No |
|
5) Type of Business |
Yes |
|
6) Line of Business• |
Yes |
|
7) Promoter’s background |
Yes |
|
8) No. of employees |
No |
|
9) Name of person contacted |
No |
|
10) Designation of contact person |
No |
|
11) Turnover of firm for last two years |
Yes |
|
12) Profitability for last three years |
Yes |
|
13) Reasons for variation <> 20% |
-- |
|
14) Estimation for coming financial year |
No |
|
15) Capital in the business |
Yes |
|
16) Details of sister concerns |
No |
|
17) Major suppliers |
No |
|
18) Major customers |
No |
|
19) Payments terms |
No |
|
20) Export / Import details (if applicable) |
No |
|
21) Market information |
-- |
|
22) Litigations that the firm / promoter |
-- |
|
23) Banking Details |
Yes |
|
24) Banking facility details |
Yes |
|
25) Conduct of the banking account |
-- |
|
26) Buyer visit details |
-- |
|
27) Financials, if provided |
Yes |
|
28) Incorporation details, if applicable |
Yes |
|
29) Last accounts filed at ROC |
Yes |
|
30) Major Shareholders, if available |
Yes |
Note:
The registered office of the company has been shifted from
2-Witesnd 70-D,
OPERATIONAL REVIEW
The Company has achieved turnover of Rs.208.375 Millions during the year as compared to turnover of Rs.124.884 Millions during previous year. There is profit before depreciation, interest and tax of Rs.61.339 Millions (Previous year Profit Rs.38.148 Millions). After charging depreciation of Rs.4.677 Millions (Previous year Rs.3.642 Millions) and interest of Rs.5.773 Millions (Previous year Rs.1.970 Millions), there is profit before tax of Rs.50.889 Millions (Previous year Profit of Rs.32.535 Millions). There is profit after tax of Rs.39.875 Millions (Previous year Profit of Rs.22.602 Millions).
FUTURE PLANS AND
OUTLOOK:
The company is expanding its activities by installing
additional machineries at newly constructed factory building, some of the machinery
already installed during the year, adjoining to the existing factory premises
at plot No. 33,
FINANCE
The company during the year enjoyed working capital loans, term loan and non-fund based limit, from the Bank of India, Andheri (West), Branch
Bankers Charges
Report as per Registry
|
Corporate
identity number of the company |
U24230MH2003PTC139209 |
|
Name of the
company |
PREMIER NUTRACEUTICALS PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
271, Tower ‘A’ |
|
This form is for |
Modification of charge |
|
Charge
identification (ID) number of the charge to be modified |
80033077 |
|
Type of charge |
|
|
Particular of
charge holder |
Bank of India, Andheri (West) Branch, M. D. |
|
Nature of
instrument creating charge |
Supplemental Deed
of Hypothecation |
|
Date of instrument
Creating the charge |
28.05.2010 |
|
Amount secured by
the charge |
Rs.75.107
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest CC (Stocks and BD)
and TL- Interest@12.00% p. a. (Presently PLR) shall be charged at Monthly
rests. LC as per extent
HO Guidelines Terms of Repayment CC (Stocks and
Book Debts)- On Demand Term Loan as per
extent guidelines Margin Term Loan I and
II - 50% Term Loan Fresh-20% Cash
Credit-(Stocks)-20% Cash Credit-(Book
Debts)-30% L/C ( DP/DA-180
days)-10% DP, 25% DA Extent and Operation of the charge Exclusive charge
by way of hypothecation of all movable properties of the company Others Limits enhanced
from Rs.43.554 Millions to Rs.75.107 Millions |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
Hypothecation of
Stocks, Book debts, Plant and Machinery both present and future on the
Company. |
|
Date of
instrument modifying the charge |
02.05.2009 |
|
Particulars of
the present modification |
By Present modi.
Hypothecation of Stocks, Book Debts, and plant and machinery has now
increased from Rs.43.554 Millions to
Rs.75.107 Millions detailed as under 1) Term
Loan-I Rs.6.100 Millions 2) TL-II Rs.1.952 Millions 3) TL-III (Fresh)
Rs.12.055 Millions 4) CC
(Stock) Rs.17.500 Millions 5) CC (BD)
Rs.25.000 Millions, Max.4 and 5 Rs.40.000 Millions 6) L/C Rs.15.000 Millions Aggregate Total Rs.75.107 Millions |
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.52.49 |
|
|
1 |
Rs.84.66 |
|
Euro |
1 |
Rs.69.25 |
INFORMATION DETAILS
|
Report Prepared
by : |
NTH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
NO |
|
TOTAL |
|
30 |
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.