MIRA
INFORM REPORT
|
Report Date : |
16.08.2012 |
IDENTIFICATION DETAILS
|
Name : |
MAYAR HEALTH RESORTS LIMITED |
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|
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|
Registered
Office : |
Plot No A, Basant Lok Community Centre, Vasant Vihar New Delhi –
110057 |
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Country : |
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Financials (as
on) : |
31.03.2011 |
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Date of
Incorporation : |
02.05.2003 |
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Com. Reg. No.: |
55-120173 |
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Capital Investment
/ Paid-up Capital : |
Rs.215.530 Millions |
|
|
|
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CIN No.: [Company Identification
No.] |
U74899DL2003PLC120173 |
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|
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TAN No.: [Tax Deduction &
Collection Account No.] |
DELM08210G |
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|
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PAN No.: [Permanent Account No.] |
AADCM6414C |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Manufacturer and Exporter of Cosmetics Toiletries |
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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 1300000 |
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|
|
Status : |
Moderate |
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Payment Behaviour : |
Slow |
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Litigation : |
Clear |
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Comments : |
Subject is a subsidiary of Mayar India Limited. It is an established
company having moderate track. It has incurred loss during 2011. There appears
some accumulated losses recorded by the company. However, 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 caution.
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 – June 30, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
India |
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 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
LOCATIONS
|
Registered Office / Corporate Office : |
Plot No A, Basant Lok Community Centre, Vasant Vihar New Delhi –
110057, India |
|
Tel. No.: |
91-11- 46075777 / 46075793 |
|
Fax No.: |
91-11-46095776 |
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E-Mail : |
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Website : |
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Head Office : |
10th Floor, DLF Square, DLF City, Gurgaon, Haryana, India. |
|
Tel. No.: |
91-124-4995700 |
|
Fax No.: |
91-124-4995791 |
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E-Mail : |
DIRECTORS
As on 31.08.2011
|
Name : |
Mr. Ajit Kumar Sud |
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Designation : |
Director |
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Address : |
2A, Shankracharya Marg, Civil Lines, Delhi – 110054, India
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Date of Birth/Age : |
19.04.1946 |
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Date of Appointment : |
02.05.2003 |
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DIN No.: |
00004280 |
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Other
Directorship
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Name : |
Mr. Abhit Sud |
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|
Designation : |
Managing director |
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|
Address : |
2A, Shankracharya Marg, Civil Lines, Delhi – 110054, India |
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Date of Birth/Age : |
19.05.1981 |
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Qualification : |
B.Sc (Hons), M.SC in SM and R |
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Experience : |
11 Years |
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Date of Appointment : |
01.06.2010 |
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DIN No.: |
00004301 |
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Other Directorship
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Name : |
Mr. Ashit Sud |
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|
Designation : |
Director |
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|
Address : |
2A, Shankracharya Marg, Civil Lines, Delhi – 110054, India |
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Date of Birth/Age : |
19.12.1979 |
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|
Date of Appointment : |
02.05.2003 |
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DIN No.: |
00004296 |
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Other
Directorship
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KEY EXECUTIVES
|
Name : |
Mr. Jitendra K Singh |
|
Designation : |
Secretary |
|
Date of Appointment : |
16.05.2011 |
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PAN No. : |
APMPS0816F |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 31.08.2011
|
Names of Shareholders (Equity Shares) |
|
No. of Shares |
|
Mayar India Limited, India |
|
16929398 |
|
Ajit Kumar Sud |
|
500001 |
|
Loveleen Sud |
|
500001 |
|
Ashit Sud |
|
1 |
|
L.P, Soni |
|
1 |
|
S.M. Khanna |
|
1 |
|
P.K. Vijh |
|
1 |
|
Total |
|
17929404 |
|
Names of
Shareholders (Preference Shares) |
|
No. of Shares |
|
Mayar (H.K) Limited, China |
|
3605640 |
|
Total |
|
3605640 |
As on 31.08.2011
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Bodies corporate |
94.00 |
|
Directors or relatives of Directors |
6.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Cosmetics Toiletries |
PRODUCTION STATUS (As on 31.03.2011)
|
Particulars |
Unit |
Installed
Capacity |
Actual
Production |
|
Healthcare Products |
Litres |
165000 |
-- |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
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Bankers : |
· Allahabad Bank, International Branch, 17, Parliament Street, New Delhi - 110001, India · ICICI Bank Limited ·
Indian Overseas Bank |
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Facilities : |
(Rs.
In Millions)
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
Vinod Parveen and Associates Chartered Accountants |
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Address : |
B-1/27, Sector 18, Noida - 201301, Uttar Pradesh, India |
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Tel. No.: |
91-11-23379773 |
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Fax No.: |
91-11-23370440 |
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PAN.: |
AAAFV8032D |
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Holding Company: |
Mayar India Limited CIN No.: U52110DL1978PLC009236 |
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Subsidiaries Company: |
· Signalize Impex Private Limited CIN No.: U01403DL2008PTC173828 · Shree Cosmetics Limited CIN No.: U24246DL2006PLC144560 |
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Fellow Subsidiary
company : |
Mayar Infrastructure Development Private Limited CIN No.: U74899DL1995PTC073584 |
CAPITAL STRUCTURE
As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
20000000 |
Equity Shares |
Rs.10/- each |
Rs.200.000 Millions |
|
5000000 |
Preference Shares |
Rs.10/- each |
Rs.50.000 Millions |
|
|
Total |
|
Rs.250.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
17929404 |
Equity Shares |
Rs.10/- each |
Rs.179.294
Millions |
|
3605640 |
Preference Shares |
Rs.10/- each |
Rs.36.056
Millions |
|
|
Total |
|
Rs.215.350 Millions |
Note:
(A) 17929404 Equity Shares (Previous year 16890604) of Rs.10/- each 179294040 fully paid up. (Out of the above, 16929398 equity shares of Rs.10/- each are held by the holding company, Mayar India Limited)
(B) 3605640 - 2.5% Non Cumulative Compulsorily Convertible Preference Shares (previous Year NIL) of Rs 10/- each fully paid up issued at a Premium of Rs 40/- per share 36056400
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 |
215.350 |
168.906 |
168.906 |
|
|
2] Share Application Money |
23.423 |
194.975 |
54.629 |
|
|
3] Reserves & Surplus |
266.287 |
81.445 |
82.381 |
|
|
4] (Accumulated Losses) |
(175.877) |
(180.559) |
(126.125) |
|
|
NETWORTH |
329.183 |
264.767 |
179.791 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
174.393 |
157.523 |
180.572 |
|
|
2] Unsecured Loans |
15.416 |
9.152 |
0.000 |
|
|
TOTAL BORROWING |
189.809 |
166.675 |
180.572 |
|
|
DEFERRED TAX LIABILITIES |
15.036 |
13.080 |
13.622 |
|
|
|
|
|
|
|
|
TOTAL |
534.028 |
444.522 |
373.985 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
476.953 |
411.558 |
352.805 |
|
|
Capital work-in-progress |
4.608 |
0.000 |
2.226 |
|
|
|
|
|
|
|
|
INVESTMENT |
68.500 |
68.500 |
28.500 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
19.866
|
6.073 |
5.886 |
|
|
Sundry Debtors |
21.989
|
6.112 |
7.438 |
|
|
Cash & Bank Balances |
5.613
|
10.206 |
8.856 |
|
|
Other Current Assets |
0.101
|
0.077 |
0.067 |
|
|
Loans & Advances |
40.864
|
30.933 |
19.777 |
|
Total
Current Assets |
88.433
|
53.401 |
42.024 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
42.830
|
29.811 |
23.111 |
|
|
Other Current Liabilities |
58.773
|
58.049 |
28.255 |
|
|
Provisions |
3.942
|
2.695 |
2.361 |
|
Total
Current Liabilities |
105.545
|
90.555 |
53.727 |
|
|
Net Current Assets |
(17.112)
|
(37.154) |
(11.703) |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
1.079 |
1.618 |
2.157 |
|
|
|
|
|
|
|
|
TOTAL |
534.028 |
444.522 |
373.985 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
|
|
154.409 |
166.930 |
|
|
|
Other Income |
|
26.523 |
5.367 |
|
|
|
TOTAL (A) |
|
180.932 |
172.297 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Sales |
|
31.973 |
28.819 |
|
|
|
Employee’s Remuneration and Benefits Expenses |
|
54.544 |
60.802 |
|
|
|
Operating Expenses |
|
92.894 |
70.296 |
|
|
|
Less: Amortisation of Revaluation Reserve |
|
(0.936) |
(0.936) |
|
|
|
Miscellaneous Expenditure Written off |
|
0.539 |
0.539 |
|
|
|
Adjustment due to increase / (Decrease) in stock |
|
0.356 |
(0.400) |
|
|
|
Prior Period Expenses |
|
7.837 |
2.081 |
|
|
|
TOTAL (B) |
|
187.207 |
161.201 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
NA |
(6.275) |
11.096 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
|
18.775 |
25.637 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
|
(25.050) |
(14.541) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
|
28.469 |
26.796 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
|
(53.519) |
(41.337) |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
|
0.916 |
2.158 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
|
(54.435) |
(43.495) |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
|
(126.125) |
(82.630) |
|
|
|
|
|
|
|
|
|
|
BALANCE / (LOSS )
CARRIED TO THE B/S |
(175.877) |
(180.560) |
(126.125) |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
42.000 |
NA |
NA |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Capital Goods |
NA |
10.817 |
1.095 |
|
|
TOTAL IMPORTS |
NA |
10.817 |
1.095 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
0.27 |
(3.22) |
(2.58) |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
NA
|
(30.09) |
(73.20) |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
NA
|
(35.25) |
(26.06) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
NA
|
(11.51) |
(10.48) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
NA
|
(0.20) |
(0.23) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.90
|
0.97 |
1.30 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.84
|
0.59 |
0.78 |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
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 two 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 |
(Yes) |
|
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 involved in |
---------------------- |
|
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) |
|
31] |
Date of Birth of Proprietor/Partner/Director, if available |
(Yes) |
|
32] |
PAN of Proprietor/Partner/Director, if available |
(No) |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
(No) |
|
34] |
External Agency Rating, if available |
(No) |
FINANCIAL RESULTS
During the year the company earned a loss of Rs. 175.877 Millions as against previous year loss of Rs. Rs. 180.560 Millions.
CONTINGENT LIABILITIES
Rs. In Millions
|
Particulars |
31.03.2011 |
31.03.2010 |
|
Bank Guarantee |
4.998 |
3.300 |
|
Corporate Guarantee |
211.000 |
0.000 |
|
LC issued against Margin Money |
0.000 |
10.586 |
|
Claim against the company not acknowledged as Debts |
3.384 |
3.384 |
· The amount shown in (ii) above represents guarantees given in the normal course of the Company’s operations and are not expected to result in any loss to the company on the basis of the beneficiary fulfilling its ordinary commercial obligations.
· The amounts shown in (iv) above represents the best possible estimates arrived at on the basis of available information. The uncertainties and possible reimbursements are dependent on the outcome of the different legal processes which have been invoked by the Company and therefore cannot be predicted accurately.
FIXED ASSETS
· Lease Hold Land
· Land and Land Improvements
· Plant Machinery
· Office Equipments
· Computer
· Vehicles
·
Furniture and Factures
AS PER WEBSITE
HISTORY
It was in 1948, just after Independence of India that Mayar Group was born in a small 10" x 12" shop, in a busy lane of old Delhi, Mayar came into being.
Set up by the visionary industrialist, Late Mr. Amar Nath Sud, this venture named Mayar Traders Private Limited.
The years followed saw the rapid growth of the Company. A growth that was the cause and the effect of many diversifications, integrations and expansions.
Today, with over 6 decades, companies forming pillars of the Mayar Group with its highly diversified Business portfolio and strong global footprints, it has become a conglomerate of international repute. Relentlessly contributing to the growth of the Indian Economy.
t the helm of this trial-blazing group is Mr. A.K. Sud, Chairman and Managing Director of Mayar. Supported by a workforce of sure-fire managers and committed staff. All driven by a single philosophy.” The Best way to run a company is by serving the customer in more ways than one.”
BOARD OF DIRECTOR
Mr. Ajit Kumar
Sud,
Chairman and Managing
Director
Joined family business in 1967, a worthy inheritor of his father's mantle, is continuing the legacy by expanding the Group in other areas like Health Resorts, Day Spas, and Development of Special Economic Zones. He is sticking firmly to the ideals that have made the Mayar a corporate global organization.
Mr. Ashit Sud,
Director
Mr. Ashit Sud is elder son of Mr. A.K. Sud. He is young and dynamic
personality. He possesses degree in B.Sc. (Hons), specializing in Finance and
Human Resources from University of Bradford, U.K. He has got extensive training
in the Company's wholly owned subsidiary in Hong Kong (Mayar HK Limited) for 7
years; he joined the family business in 2000.
He was part of the core team for establishing Company's Hospitality Venture,
Health Spa at Ashok Hotel, Chanakyapuri, New Delhi in 2004. Presently he is the
Business Head for Mayar HK Limited.
Mr. Abhit Sud,
Director
Mr. Abhit Sud is younger son of Mr. A.K. Sud. He is young and dynamic
personality. He possesses degree in B.Sc. (Hons) from University of Bradford,
U.K. and M.Sc. in Strategic Marketing and Research from Cranfield University
(U.K.). Before joining the family business in 2002, he worked with JWT which
gave him great insights on Media and Brand Creation.
Presently he is the Business Head for Subject, which has Bench mark in the hospitality
and Spa Business.
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 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.55.99 |
|
|
1 |
Rs.87.55 |
|
Euro |
1 |
Rs.68.69 |
INFORMATION DETAILS
|
Report Prepared
by : |
NTH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
-- |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
4 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
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.