MIRA
INFORM REPORT
|
Report Date : |
06.12.2012 |
IDENTIFICATION DETAILS
|
Name : |
SYSTIME GLOBAL SOLUTIONS PRIVATE LIMITED SYSTIME COMPUTER SYSTEMS LIMITED (AMALGAMATED WITH - SYSTIME GLOBAL
SOLUTIONS PRIVATE LIMITED) |
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Formerly Known
As : |
CHAITIME.COM INDIA PRIVATE LIMITED |
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Registered
Office : |
Systime Global Centre, 155, |
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Country : |
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Financials (as
on) : |
31.03.2011 |
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Date of
Incorporation : |
15.03.2000 |
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Com. Reg. No.: |
11-124984 |
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Capital
Investment / Paid-up Capital : |
Rs. 373.855 Millions |
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CIN No.: [Company Identification
No.] |
U72300MH2000PTC124984 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
MUMC10107G |
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PAN No.: [Permanent Account No.] |
AABCC2531L |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Subject is providing software consultancy services. |
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No. of Employees
: |
Information not given by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (43) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 3900000 |
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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 an established company having satisfactory track. Latest
financials i.e. 2011-12 are missing from the government department from the financial
of the year 2011 it seems that the company have satisfactory track. Trade
relations are reported as fair. Business is active. Payments are reported to
be usually correct and as per commitments. The company 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.
INDIAN ECONOMIC OVERVIEW
|
Source
: CIA |
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.
INFORMATION DECLINED BY
|
Name : |
Ms. Akshta |
|
Designation : |
Admin Head |
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Contact No.: |
91-22-27783100 |
|
Date : |
05.12.2012 |
LOCATIONS
|
Registered Office : |
Systime Global Centre, 155, |
|
Tel. No.: |
91-22-27783100 |
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Fax No.: |
91-22-27783220 |
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E-Mail : |
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Branch Office : |
Customs Ing Seepz, Andheri (East), Mumbai-400096, |
DIRECTORS
AS ON 27.07.2012
|
Name : |
Mr. Kishor Paarshuram Patil |
|
Designation : |
Director |
|
Address : |
Dwarka Plot 15, Tejas Cooperative Housing Society, Kothrud,
Pune-411038, |
|
Date of Birth/Age : |
17.01.1962 |
|
Date of Appointment : |
27.05.2011 |
|
DIN No.: |
00076190 |
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|
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|
Name : |
Mr. Sudheer Bhaskar Tilloo |
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Designation : |
Director |
|
Address : |
Amit Blossom, |
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Date of Birth/Age : |
29.05.1947 |
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Date of Appointment : |
27.05.2011 |
|
DIN No.: |
00103914 |
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|
Name : |
Mr. Pawan Sharma |
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Designation : |
Director |
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Address : |
Bungalow No. 387, Sector 21, Yamuna Nagar, Nigdi Pune-411044, |
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Date of Birth/Age : |
14.07.1968 |
|
Date of Appointment : |
27.05.2011 |
|
DIN No.: |
01924215 |
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|
|
|
Name : |
Mr. Vishal Ramesh Grover |
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Designation : |
Director |
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Address : |
3318, |
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Date of Birth/Age : |
29.11.1974 |
|
Date of Appointment : |
27.05.2011 |
|
DIN No.: |
03533957 |
KEY EXECUTIVES
|
Name : |
Mr. Sachin Subhash Chipade |
|
Designation : |
Secretary |
|
Address : |
7, Shreyas Arbor, 40/A, Off |
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Date of Birth/Age : |
22.06.1979 |
|
Date of Appointment : |
01.03.2012 |
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PAN No.: |
AENPC9559H |
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|
|
|
Name : |
Ms. Akshta |
|
Designation : |
Admin Head |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 27.07.2012
|
Names of Equity Shareholders |
No. of Shares |
|
Systime Global Solutions ( |
4068319 |
|
Systime Global Solutions ( |
1 |
|
Kpit Cummins Infosystems Limited, |
5504198 |
|
TOTAL |
9572518 |
|
Names of Preference Shareholders |
No. of Shares |
|
Kpit Cummins Infosystems Limited, |
2781300 |
|
TOTAL
|
2781300 |
AS ON 27.07.2012
|
Equity Shares
Break Up |
Percentage of
Holding |
|
Foreign holdings( Foreign institutional investor(s),
Foreign companie(s) Foreign financial institution(s), Non-resident Indian(s)
or Overseas Corporate bodies or Others |
42.50 |
|
Bodies corporate |
57.50 |
|
TOTAL |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is providing software consultancy services. |
GENERAL INFORMATION
|
No. of Employees : |
Information not given by the management |
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Bankers : |
·
HDFC Bank Limited, HDFC bank House, Senapati
Bapat Marg, Lower Parel (West), Mumbai-400013, |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
S R Batliboi and Company Chartered Accountant |
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Address : |
18th Floor, |
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PAN No.: |
AIGBD9892F |
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Holding Company : |
·
Systime Global Solutions ( |
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Subsidiaries : |
·
Systime Computer Corporation, ·
Systime Global Solutions Pty Limited, ·
Systime Global Solutions Pte Limited, ·
Systime ME FZCO, |
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Subsidiaries of Subsidiaries Companies : |
·
Systime Global Solutions Japan Limited, ·
VersaPOS Group Inc., ·
CMS Global Solutions Limited, ·
VersaPOS Inc., ·
SYSTIME Global Solutions Limited, ·
SYSTIME Global Solutions, Inc. |
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|
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Other Related Parties : |
·
CMS Computers Limited ·
Systime Computers Limited ·
Dataxccess Integrated Technology Limited ·
Kaycee Industries Limited ·
E-Flex L.L.C. ·
G. G. Constructions Private Limited ·
Money Ease Capital Private Limited ·
CMS Info Systems Private Limited ·
CMS Securitas Limited |
CAPITAL STRUCTURE
AS ON 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
9580000 |
Equity Shares |
Rs.10/- each |
Rs. 95.800 Millions |
|
3182000 |
0.01% Cumulative Redeemable Preference Shares |
Rs.100/- each |
Rs. 318.200 Millions |
|
|
TOTAL |
|
Rs. 414.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
9572517 |
Equity Shares |
Rs.10/- each |
Rs. 95.725
Millions |
|
2781300 |
0.01% Cumulative Redeemable Preference Shares |
Rs.100/- each |
Rs. 278.130 Millions |
|
|
TOTAL |
|
Rs. 373.855 Millions |
NOTES
All the above shares are held by SYSTIME
Global Solutions (
AS ON 27.07.2012
Authorised Capital : Rs. 500.000
Millions
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
9572517 |
Equity Shares |
Rs.10/- each |
Rs. 95.725
Millions |
|
2781300 |
0.01% Cumulative Redeemable Preference Shares |
Rs.100/- each |
Rs. 278.130 Millions |
|
|
TOTAL |
|
Rs. 373.855 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 |
373.855 |
95.725 |
95.725 |
|
|
2] Share Application Money |
0.000 |
318.130 |
0.000 |
|
|
3] Reserves & Surplus |
613.378 |
590.857 |
0.000 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
(95.567) |
|
|
NETWORTH |
987.233 |
1004.712 |
0.158 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
5.756 |
4.772 |
0.000 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
5.756 |
4.772 |
0.000 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
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TOTAL |
992.989 |
1009.484 |
0.158 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
62.343 |
72.489 |
0.000 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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|
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INVESTMENT |
496.110 |
474.569 |
0.000 |
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DEFERREX TAX ASSETS |
24.208 |
8.175 |
0.000 |
|
|
|
|
|
|
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
0.000
|
0.000 |
0.000 |
|
|
Sundry Debtors |
458.922
|
413.375 |
0.000 |
|
|
Cash & Bank Balances |
16.711
|
55.854 |
0.001 |
|
|
Other Current Assets |
3.517
|
8.006 |
0.000 |
|
|
Loans & Advances |
140.559
|
123.671 |
0.176 |
|
Total
Current Assets |
619.709
|
600.906 |
0.177 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
41.021
|
30.312 |
0.019 |
|
|
Other Current Liabilities |
118.155
|
73.482 |
0.000 |
|
|
Provisions |
50.205
|
42.861 |
0.000 |
|
Total
Current Liabilities |
209.381
|
146.655 |
0.019 |
|
|
Net Current Assets |
410.328
|
454.251 |
0.158 |
|
|
|
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|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
992.989 |
1009.484 |
0.158 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income from Operations |
886.280 |
849.477 |
0.000 |
|
|
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Other Income |
NA |
NA |
NA |
|
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TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
NA |
NA |
NA |
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
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|
|
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TOTAL |
NA |
NA |
NA |
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|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
28.109 |
68.867 |
(1.312) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
17.993 |
20.199 |
0.004 |
|
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|
PROFIT / (LOSS)
BEFORE TAX |
10.116 |
48.668 |
(1.316) |
|
|
|
|
|
|
|
|
|
Less |
TAX |
(14.955) |
2.767 |
0.000 |
|
|
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|
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|
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|
PROFIT / (LOSS)
AFTER TAX |
25.071 |
45.901 |
(1.316) |
|
|
|
|
|
|
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|
Less |
PRIOR PERIOD
EXPENSES |
2.500 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
199.640 |
(95.567) |
(94.251) |
|
|
|
|
|
|
|
|
|
|
EFFECT
OF SCHEME OF AMALGAMATION |
0.000 |
249.306 |
0.000 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Preference Dividend and Tax Thereon |
0.050 |
0.000 |
0.000 |
|
|
BALANCE CARRIED
TO THE B/S |
222.161 |
199.640 |
(95.567) |
|
|
|
|
|
|
|
|
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|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Income of Operations |
|
685.534 |
0.000 |
|
|
|
Reimbursement of Travel Expenses |
|
23.591 |
0.000 |
|
|
|
Dividend |
|
9.170 |
0.000 |
|
|
TOTAL EARNINGS |
760.160 |
718.295 |
0.000 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Capital Goods |
NA |
4.347 |
0.000 |
|
|
TOTAL IMPORTS |
NA |
4.347 |
0.000 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
2.35 |
4.80 |
-- |
|
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KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
Net Profit Margin (PBT/Sales) |
(%) |
1.14
|
5.73 |
0.00 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.43
|
7.14 |
(743.50) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.01
|
0.05 |
(8.33) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.22
|
0.15 |
0.12 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.96
|
4.10 |
9.32 |
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 |
Yes |
|
10] |
Designation of contact
person |
Yes |
|
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 |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details
(if applicable) |
Yes |
|
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 |
No |
|
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 |
SUNDRY CREDITORS
DETAILS
(Rs.
In Millions)
|
Particulars |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
Sundry Creditors
|
|
|
|
|
Creditors due others |
41.021
|
30.312 |
0.019 |
|
TOTAL |
41.021 |
30.312 |
0.019 |
NOTE
Registered office has been shifted from 201,
AMALGAMATION (AS
ON 31.03.2010)
As a strategic
move the members approved amalgamation of SYSTIME Computer Systems Limited with
the company during the year. The Scheme of Amalgamation duly approved by the
members was approved by Honorable High Court, Mumbai on 20th
November 2009, The copy of the Order was filed with Registrar of Companies,
Mumbai on 8th January. Accordingly the amalgamation comes in to operation from
8th January 2010. Subsequently the company applied for change of name, which
was duly approved by Registrar of Companies, Mumbai on 15th March 2010. The
company shall now be called SYSTIME Global Solutions Private Limited.
OPERATIONS
The Company along
with its subsidiaries registered a marginal growth during the year 2010-11.
Sales and Income from Operations for the year 2009-10 represent SYSTIME
business. Income from operations achieved during the year is Rs. 886.300
Millions which is 4% higher than the previous year. With this marginal growth
in the turnover amidst a fall in average USD exchange rate, the Company was
able to achieve Rs. 28.100 Millions profit before tax and depreciation. The
current profit is after exceptional non recurring expenses of Rs. 35.900
Millions.
The company is
consciously focused on adding new customers and entering new geographical
regions. During the year company ventured into Latin America with opening a
step down subsidiary in Brazil in February 2010. The subsidiary has registered
a good turnover during 2010-11 through a sub contractor based business. The
company will strive to achieve own employee driven business operations in the
coming year and achieve further growth with improved profitability.
In February 2011,
the Company increased it’s stake in it’s subsidiary SYSTIME ME FZCO, by purchasing
the minority shareholding from Mr. Hanna Issa.
The Company has
cancelled the ESOP PLAN 2009 in its Board meeting held on May 25, 2011.
Accordingly all the ESOPs granted to various employees have been cancelled.
FORM 8
|
Corporate
identity number of the company |
U72300MH2000PTC124984 |
|
Name of the
company |
SYSTIME Global
Solutions Private Limited |
|
Address of the
registered office or of the principal place of business in |
Systime Global Centre, 155, |
|
This form is for |
Creation of
charge |
|
Type of charge |
·
Book
debts ·
Floating
charge |
|
Particular of
charge holder |
HDFC Bank Limited, HDFC bank House, Senapati Bapat Marg, Lower Parel
(West), Mumbai-400013, |
|
Nature of
instrument creating charge |
Letter of
Hypothecation of Book Debts |
|
Date of
instrument Creating the charge |
28.02.2012 |
|
Amount secured by
the charge |
Rs. 100.000
Millions |
|
Brief of the principal
terms an conditions and extent and operation of the charge |
Rate of interest As decided by the
Bank from time to time Terms of repayment As decided by the
Bank from time to time Margin As decided by the
Bank from time to time Extent and operation of the charge First charge on
all Book Debts of the Company both present and future |
|
Short particulars
of the property charged (Including location of the property) |
First charge on
all Book Debts of the Company both present and future |
FIXED ASSETS
·
Air Conditioner
·
Electrical and Office
Equipments
·
Computers
·
Furniture and Fixtures
·
Vehicles
·
Leasehold Improvements
·
Computer Software’s
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. 54.56 |
|
|
1 |
Rs. 87.89 |
|
Euro |
1 |
Rs. 71.52 |
INFORMATION DETAILS
|
Information
Gathered by : |
PJA |
|
|
|
|
Report Prepared
by : |
DPT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
43 |
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.