|
Report Date : |
31.08.2012 |
IDENTIFICATION DETAILS
|
Name : |
JEYENKAY PETROGELS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Office No.410, 4th Floor, Kanara Business Centre, Laxmi
Nagar, Ghatkopar (East), Mumbai – 400075, Maharashtra |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
20.07.2010 |
|
|
|
|
Com. Reg. No.: |
11-250719 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.5.001
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24100MH2010PTC250719 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMJ15258F |
|
|
|
|
PAN No.: [Permanent Account No.] |
AACCJ4070A |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Petroleum Jellies, Industrial Oils, Lubricant and
Speciality Petroleum Products. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (32) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 31000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject was established in 1996 as a partnership concern and later on August,
2011 it got converted into private Limited. If is having moderate track. Trade relations are reported as fair.
Business is active. Payments are reported to be slow but correct. 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 – June 30, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
India is developing into an open-market economy, yet traces
of its past autarkic policies remain. Economic liberalization, including
industrial deregulation, privatization of state-owned enterprises, and reduced controls
on foreign trade and investment, began in the early 1990s and has served to
accelerate the country's growth, which has averaged more than 7% per year since
1997. India's diverse economy encompasses traditional village farming, modern
agriculture, handicrafts, a wide range of modern industries, and a multitude of
services. Slightly more than half of the work force is in agriculture, but
services are the major source of economic growth, accounting for more than half
of India's output, with only one-third of its labor force. India has
capitalized on its large educated English-speaking population to become a major
exporter of information technology services and software workers. In 2010, the
Indian economy rebounded robustly from the global financial crisis - in large
part because of strong domestic demand - and growth exceeded 8% year-on-year in
real terms. However, India's economic growth in 2011 slowed because of
persistently high inflation and interest rates and little progress on economic
reforms. High international crude prices have exacerbated the government's fuel
subsidy expenditures contributing to a higher fiscal deficit, and a worsening
current account deficit. Little economic reform took place in 2011 largely due
to corruption scandals that have slowed legislative work. India's medium-term
growth outlook is positive due to a young population and corresponding low
dependency ratio, healthy savings and investment rates, and increasing
integration into the global economy. India has many long-term challenges that
it has not yet fully addressed, including widespread poverty, inadequate
physical and social infrastructure, limited non-agricultural employment
opportunities, scarce access to quality basic and higher education, and
accommodating rural-to-urban migration.
|
Source
: CIA |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
|
Rating |
BB (Long Term Rating |
|
Rating Explanation |
Having moderate risk of default regarding
timely servicing of financial obligation. |
|
Date |
February, 2012 |
|
Rating Agency Name |
ICRA |
|
Rating |
A4+ (Short Term Non Fund Based) |
|
Rating Explanation |
Having minimal degree safety regarding
timely payment of financial obligations, it carry very high credit risk and
are susceptible of default. |
|
Date |
February, 2012 |
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 : |
Office No.410, 4th Floor, Kanara Business Centre, Laxmi
Nagar, Ghatkopar (East), Mumbai – 400075, Maharashtra, India |
|
Tel. No.: |
91-22-25005111/ 25005110/ 25068634 |
|
Fax No.: |
91-22-25005110 |
|
E-Mail : |
|
|
|
|
|
Factory : |
Plot No.3 and 4, Survey No.207, Umarkui-Kilavni Road, Umarkui,
Silvassa - 396230, Union Territory of Dadra and Nagar Haveli, India |
DIRECTORS
(AS ON 30.09.2011)
|
Name : |
Mr. Nilesh Krishna Chandra Patel |
|
Designation : |
Director |
|
Address : |
21/B, New Mahavir Prakash, 353/B/29,Vallabh Baugh Lane, Ghatkopar (East), Mumbai – 400077, Maharashtra, India |
|
Date of Birth/Age : |
05.11.1967 |
|
Date of Appointment : |
20.07.2010 |
|
PAN No.: |
AABPP0663R |
|
DIN No.: |
02986524 |
|
|
|
|
Name : |
Mrs. Jigna Nilesh Patel |
|
Designation : |
Director |
|
Address : |
21/B, New Mahavir Prakash, 353/B/29,Vallabh Baugh Lane, Ghatkopar (East), Mumbai – 400077, Maharashtra, India |
|
Date of Birth/Age : |
09.09.1970 |
|
Date of Appointment : |
20.07.2010 |
|
PAN No.: |
AABPP0664J |
|
DIN No.: |
02986549 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
(AS ON 30.09.2011)
|
Names of Shareholders |
|
No. of Shares |
|
|
|
|
|
Jigna Nilesh Patel |
|
250000 |
|
Nilesh Krishna Chandra Patel |
|
245000 |
|
Bharatbhai Kasibhai Patel |
|
1000 |
|
Mrunal B. Patel |
|
1000 |
|
Vishal B. Patel |
|
1000 |
|
Swati K. Patel |
|
1000 |
|
Bhargav V. Patel |
|
1000 |
|
Ashish M Amin |
|
10 |
|
Pushan Ashish Amin |
|
10 |
|
Tejusben Ashish Amin |
|
10 |
|
Madhumati Dilip Shah |
|
10 |
|
N K Patel HUF |
|
10 |
|
Vimlaben K. Patel |
|
10 |
|
|
|
|
|
Total |
|
500060 |
(AS ON 30.09.2011)
Equity Shares Break – up
|
Category |
|
Percentage |
|
|
|
|
|
Directors or relatives of directors |
|
100.00 |
|
|
|
|
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Petroleum Jellies, Industrial Oils, Lubricant and
Speciality Petroleum Products. |
GENERAL INFORMATION
|
Suppliers : |
· Ahuja Impex Private Limited · Chandri Paper and Allied Products Private Limited · Gupta Barrels · Indian Oil Corporation Haldia · Mahalaxmi Trade Links · M P Transformers Private Limited · Nandan Petrochem Limited · Polygel Industries Private Limited · Prabhas Petro Chemicals · Rajkamal Industrial Company · Raj Petro Specialties Private Limited · Silvo Liacal Chemicals Limited · Sooriyaa Trading · Stanlubes and Specialties (India) Private Limited |
||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||
|
Customers : |
· AB and Co Global Private Limited · Ajmera Pharmaceuticals Private Limited · All India Clearing and Forwarding Private Limited · Amit Enterprises · Bagwan Petroleum · Balaji Urjanix Private Limited · D D shah (Global) and Company · Fab Trade Enterprises · Ganesh Benzoplast Limited · Indomax Chemical Industries · Kavita Chemicals · Narain Petro Products Private Limited · Neutron Impex Private Limited · Paras Lubricants Limited · Sah Petroleum Limited · Shreeji Petrotech India Private Limited · Sonachi Biotech Private Limited · Tide Water Oil Company (India) Limited · Witmans Industries |
||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||
|
No. of Employees : |
Not Available |
||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||
|
Bankers : |
· ICICI Bank · Oriental Bank of Commerce |
||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||
|
Facilities : |
|
||||||||||||||||||||||||||
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Shah and Nahar Chartered Accountant |
|
Address : |
6/A, Manohar Building, K. V. Chitle Marg, Near Portuguese Church,
Mumbai – 400028, Maharashtra, India |
|
PAN No.: |
ANEPS9593B |
CAPITAL STRUCTURE
(AS ON 30.09.2011)
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
550000 |
Equity Shares |
Rs.10/- each |
Rs.5.500 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
500060 |
Equity Shares |
Rs.10/- each |
Rs.5.001
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
|
31.03.2011 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
5.001 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
2.835 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
7.836 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
17.581 |
|
|
2] Unsecured Loans |
|
|
16.367 |
|
|
TOTAL BORROWING |
|
|
33.948 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
41.784 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
4.593 |
|
|
Capital work-in-progress |
|
|
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
26.321 |
|
|
DEFERREX TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
24.746 |
|
|
Sundry Debtors |
|
|
27.635 |
|
|
Cash & Bank Balances |
|
|
0.070 |
|
|
Other Current Assets |
|
|
9.859 |
|
|
Loans & Advances |
|
|
1.671 |
|
Total
Current Assets |
|
|
63.981 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditor |
|
|
51.999 |
|
|
Other Current Liabilities |
|
|
0.000 |
|
|
Provisions |
|
|
1.268 |
|
Total
Current Liabilities |
|
|
53.267 |
|
|
Net Current Assets |
|
|
10.714 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.156 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
41.784 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
|
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
|
371.551 |
|
|
|
Other Income |
|
|
0.147 |
|
|
|
Closing Stock of finished Goods |
|
|
1.248 |
|
|
|
TOTAL |
|
|
372.946 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Opening Stock of Finished Goods |
|
|
0.499 |
|
|
|
Imported Raw Material Consumed |
|
|
276.355 |
|
|
|
Factory Fuel Consumed |
|
|
0.493 |
|
|
|
Indigenous Raw Material Consumed |
|
|
83.171 |
|
|
|
Packing Materials Consumed |
|
|
0.148 |
|
|
|
Bank Charges |
|
|
0.188 |
|
|
|
Bank Interest Paid |
|
|
1.149 |
|
|
|
Directors Remuneration |
|
|
0.500 |
|
|
|
Festival Expenses |
|
|
0.139 |
|
|
|
Foreign Travelling Expenses |
|
|
0.385 |
|
|
|
Legal and Professional Fees |
|
|
0.562 |
|
|
|
Rent, Rates and Taxes |
|
|
0.120 |
|
|
|
Transportation |
|
|
1.950 |
|
|
|
Vehicle Expense |
|
|
0.107 |
|
|
|
Wages and Salary |
|
|
0.638 |
|
|
|
Others Expenses |
|
|
0.487 |
|
|
|
TOTAL |
|
|
366.891 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
|
|
4.807 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
|
|
0.704 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
|
|
4.103 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
|
|
1.268 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
|
|
2.835 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
|
|
5.67 |
|
KEY RATIOS
|
PARTICULARS |
|
|
|
31.03.2011 |
|
PAT / Total Income |
(%) |
|
|
0.76 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
|
|
1.10 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
|
|
5.98 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
|
|
0.52 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
|
|
11.13 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
|
|
1.20 |
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 one years |
Yes |
|
12] |
Profitability for last oneyears |
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 |
Yes |
|
18] |
Major customers |
Yes |
|
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 |
Yes |
|
33] |
Voter ID No of Proprietor/Partner/Director,
if available |
No |
|
34] |
External Agency Rating, if available |
Yes |
FINANCIAL RESULTS
There is a sale turnover for the year. However
efforts are being made to improve the sale. Bearing un-foreseen circumstances
the directors are hopeful of the improvement of performance in current year. No
dividend is recommended by the Board of Directors.
FORM 8:
|
This form is for |
Creation of
charge |
|
Corporate
identity number of the company |
U24100MH2010PTC205719 |
|
Name of the
company |
JEYENKAY
PETROGELS PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
410, 4th Floor,
Kanara Business Centre, Laxmi Nagar Ghatkopar (East), Mumbai – 400075,
Maharashtra, India |
|
Type of charge |
Immovable
Property |
|
Particular of
charge holder |
Oriental Bank of
Commerce SME Branch, 1st
Floor, Bombay Bazar, Station
Road, Santacruz (West), Mumbai – 400054, Maharashtra, India |
|
Nature of description
of the instrument creating or modifying the charge |
No Instrument -
Deposit of Title Deeds |
|
Date of
instrument Creating the charge |
31.03.2011 |
|
Amount secured by
the charge |
Rs.100.000
Millions |
|
Brief particulars
of the principal terms and conditions and extent and operation of the charge |
Rate of Interest Interest Rate or
such other rate as agreed between the Borrower Company and the Bank from time
to time. Penal Interest in addition to agreed rate in case of default. Terms of
Repayment Repayment, as
agreed between the Borrower Company and the Bank from time to time. Margin Margin Rate, as
agreed between the Borrower Company and the Bank from time to time. Extent and
Operation of the charge At the request of
the Borrower Company, the Bank has sanctioned Banking Credit facility as
follows: CC - Rs. 24.000 Millions, LC - Rs.76.000 Millions, BG - Rs.0.500
Millions (Sublimit of LC) aggregating to Rs.100.000 Millions against Mortgage
of N.A Plot of land bearing Plot No. 3 Adm. 1317 Sq. Meters of Survey No. 207
(Survey No. 207/3) situated at village Umarkui of the Union Territory of
Dadra and Nagar Haveli. |
|
Short particulars
of the property charged |
Mortgage of N.A
Plot of land bearing Plot No. 3 Adm. 1317 Sq. Meters of Survey No. 207
(Survey No. 207/3) situated at village Umarkui of the Union Territory of
Dadra and Nagar Haveli and Bounded as Follows: On or towards
North: Common Plot. On or towards
South: Plot no. 2 of Survey No. 207 On or Towards East:
Common Plot and Road On or Towards
West: Plot No.4 of S. No. 207. |
FIXED ASSETS:
· Factory Building
· Factory Land
· Furniture and Fixture
· Laboratory Equipment
· Office Equipment
· Plant and Machinery
· Scooter
· Vehicles
·
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.55.67 |
|
|
1 |
Rs.88.05 |
|
Euro |
1 |
Rs.69.92 |
INFORMATION DETAILS
|
Report Prepared
by : |
NIT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
4 |
|
--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 |
|
32 |
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.