MIRA INFORM REPORT
|
Report Date : |
29.12.2012 |
IDENTIFICATION DETAILS
|
Name : |
ARIHANT GOLD PLAST PRIVATE LIMITED [w.e.f. 22.01.2011] |
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Formerly Known
As : |
SP EXTRUSION PRIVATE LIMITED |
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Registered
Office : |
Raghuvanshi Mansion, Office No. 1, 2nd Floor, Building
No.12, Senapati Bapat Marg, Lower Parel (West), Mumbai – 400 013, Maharashtra |
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Country : |
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Financials (as
on) : |
31.03.2012 |
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Date of
Incorporation : |
31.01.2006 |
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Com. Reg. No.: |
11-159365 |
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Capital
Investment / Paid-up Capital : |
Rs.17.500 millions |
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CIN No.: [Company Identification
No.] |
U25199MH2006PTC159365 |
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IEC No.: |
0398034087 |
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TAN No.: [Tax Deduction & Collection
Account No.] |
MUMA19006B |
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PAN No.: [Permanent Account No.] |
AABCA3907A |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer of Co-Extruded HIPS, GP/HIPS, ABS, PP and HDPE, Syntrex (Foam
Board), Syntrex-P (Door) and Polylite Plain and Embossed Sheets/Rolls. |
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No. of Employees
: |
Information denied by the management. |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (42) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 270000 |
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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 record.
There appears a dip in the profitability of the company on account of
tremendous challenges in the market place. However, networth appears to be satisfactory. 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.
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 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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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 |
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 : |
Mr. Amit |
|
Designation : |
Accounts Manager |
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Contact No.: |
91-22-24975173 |
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Date : |
28.12.2012 |
LOCATIONS
|
Registered Office : |
Raghuvanshi Mansion, Office No. 1, 2nd Floor, Building
No.12, Senapati Bapat Marg, Lower Parel (West), Mumbai – 400 013,
Maharashtra, India |
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Tel. No.: |
91-22-24975173 / 174 / 56638158 / 59 / 30967180 |
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Fax No.: |
91-22-24975175 |
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E-Mail : |
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Website : |
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Corporate Office : |
46, Pragati Industrial Estate, Ground Floor, N. M. Joshi Marg, Lower
Parel, Mumbai – 400011, Maharashtra, India |
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Tel. No.: |
91-22-24975173/ 74/ 23070803/ 04 |
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Fax No.: |
91-22-24975175/ 23050006 |
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E-Mail : |
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Location : |
Owned |
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Factory : |
Plot No.4206, GIDC Estate, Plastic Zone Sarigam Valsad, |
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Location : |
Rented |
DIRECTORS
AS ON 28.09.2012
|
Name : |
Mr. Ashok Kapoorchand Gowani |
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Designation : |
Director |
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Address : |
303/B, Arihant Apartment, Next to Shagun Hotel, Mumbai Central, Mumbai
– 400 008, |
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Date of Birth/Age : |
11.03.1963 |
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Date of Appointment : |
31.01.2006 |
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Din No.: |
00281027 |
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Other Directorship :
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Name : |
Mr. Rajesh Mishrimal Jain |
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Designation : |
Additional Director |
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Address : |
404-A, Shatrunjay Darshan, |
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Date of Birth/Age : |
01.10.1972 |
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Date of Appointment : |
24.05.2010 |
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Din No.: |
00281053 |
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Other Directorship :
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Name : |
Mr. Yashwant Mohanraj Rathod |
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Designation : |
Director |
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Address : |
101, Mangaldeep, |
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Date of Birth/Age : |
06.10.1970 |
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Date of Appointment : |
31.01.2006 |
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Din No.: |
00281083 |
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Other Directorship :
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KEY EXECUTIVES
|
Name : |
Mr. Amit |
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Designation : |
Accounts Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 28.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
Ashok Kapoorchand Gowani |
|
52500 |
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Chirag H Jain |
|
8750 |
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Prinesh J Jain |
|
8750 |
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Yashwant Mohanraj Rathod |
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31250 |
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Dimple Y Rathod |
|
5000 |
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Nayana A Rathod |
|
5000 |
|
Sunil M Rathod |
|
2500 |
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Rajesh M Jain |
|
5025 |
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Mishrimal Sukhraj (HUF) |
|
13725 |
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Jayantilal Sukhraj (HUF) |
|
12500 |
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Hasmukhlal S Jain (HUF) |
|
12500 |
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Bhagwanti M Rathod |
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17500 |
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TOTAL
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|
175000 |
AS ON 28.09.2012
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Equity Share Breakup |
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Percentage of Holding |
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Category |
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Directors
or relatives of directors |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Co-Extruded HIPS, GP/HIPS, ABS, PP and HDPE, Syntrex (Foam
Board), Syntrex-P (Door) and Polylite Plain and Embossed Sheets/Rolls. |
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Products : |
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GENERAL INFORMATION
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No. of Employees : |
Information denied by the management. |
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Bankers : |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Chartered Accountants |
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Address : |
66/68, Mint Road, Fort, Mumbai-400001, Maharashtra, India |
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PAN No: |
AADPS0734J |
CAPITAL STRUCTURE
AS ON 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
175000 |
Equity Shares |
Rs.100/- each |
Rs.17.500 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
175000 |
Equity Shares |
Rs.100/- each |
Rs.17.500 Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
17.500 |
17.500 |
17.500 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
52.091 |
45.300 |
26.552 |
|
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
69.591 |
62.800 |
44.052 |
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LOAN FUNDS |
|
|
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1] Secured Loans |
120.984 |
116.120 |
37.199 |
|
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2] Unsecured Loans |
44.763 |
30.945 |
44.900 |
|
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TOTAL BORROWING |
165.747 |
147.065 |
82.099 |
|
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DEFERRED TAX LIABILITIES |
0.825 |
0.623 |
1.878 |
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|
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TOTAL |
236.163 |
210.488 |
128.029 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
147.997 |
87.067 |
57.270 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.000 |
0.000 |
0.003 |
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DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
47.584
|
44.749 |
28.480
|
|
|
Sundry Debtors |
95.656
|
86.155 |
66.769
|
|
|
Cash & Bank Balances |
2.079
|
7.811 |
1.496
|
|
|
Other Current Assets |
6.607
|
12.165 |
0.000
|
|
|
Loans & Advances |
25.957
|
35.611 |
16.001
|
|
Total
Current Assets |
177.883
|
186.491 |
112.746 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
76.929
|
38.930 |
26.908
|
|
|
Other Current Liabilities |
12.788
|
24.140 |
3.313
|
|
|
Provisions |
0.000
|
0.000 |
12.006
|
|
Total
Current Liabilities |
89.717
|
63.070 |
42.227
|
|
|
Net Current Assets |
88.166
|
123.421 |
70.519
|
|
|
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|
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|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.237 |
|
|
|
|
|
|
|
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TOTAL |
236.163 |
210.488 |
128.029 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
524.629 |
483.347 |
382.966 |
|
|
|
Other Income |
2.242 |
1.805 |
1.537 |
|
|
|
TOTAL
(A) |
526.871 |
485.152 |
384.503 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Material and Manufacturing Cost |
|
409.087 |
302.364 |
|
|
|
Administration, Selling and Distribution Cost |
505.253 |
30.977 |
29.483 |
|
|
|
Preliminary Expenses Written Off |
|
0.117 |
0.096 |
|
|
|
Increase / (Decrease) in Stock |
|
(4.335) |
2.030 |
|
|
|
TOTAL (B) |
505.253 [Including
Financial Expenses] |
435.846 |
333.973 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
|
49.306 |
50.530 |
|
|
|
|
|
|
|
|
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Less |
FINANCIAL
EXPENSES (D) |
|
14.084 |
11.140 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
21.618 |
35.222 |
39.390 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
11.895 |
9.429 |
7.076 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
9.723 |
25.793 |
32.314 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
NA |
9.554 |
12.116 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
NA |
18.747 |
20.198 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
NA |
0.144 |
4.946 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
NA |
0.000 |
25.000 |
|
|
BALANCE CARRIED
TO THE B/S |
NA |
18.891 |
0.144 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
NA |
NA |
13.812 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
NA |
NA |
13.847 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
NA |
107.13 |
115.42 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
NA
|
3.86 |
5.25
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
1.85
|
5.34 |
8.44
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.98
|
9.43 |
19.00
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.14
|
0.41 |
0.73
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
3.67
|
3.35 |
2.82
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.98
|
2.95 |
2.67
|
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 three 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 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] |
PAN of Proprietor/Partner/Director, if available |
No |
|
32] |
Date
of Birth of Proprietor/Partner/Director, if available |
Yes |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
No |
OPERATION AND
BUSINESS PERFORMANCE:
During the year,
the Company has achieved Sales of Rs. 524.629 Millions as against Rs. 483.347 Millions
in the previous year. However, there is decline in Profit of the Company during
the year on account of tremendous challenges in the market place under overall
economic climate. The Directors are optimistic about higher sales volumes and
profitability in the coming years.
BANKERS CHARGES
REPORT AS PER REGISTRY
|
This form is for |
Modification of
charge |
|
Charge
identification number of the modified |
10203995 |
|
Corporate
identity number of the company |
U25199MH2006PTC159365 |
|
Name of the
company |
ARIHANT GOLD
PLAST PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
Raghuvanshi Mansion, Office No. 1, 2nd Floor, Building
No.12, Senapati Bapat Marg, Lower Parel (West), Mumbai – 400 013,
Maharashtra, India |
|
Type of charge |
Immovable
Property |
|
Particular of
charge holder |
Citibank N.A., Trent House, 2nd Floor, G Block, Plot No.
C60, Bandra Kurla Complex, Bandra (East), Mumbai – 400 051, Maharashtra,
India Email: vlaxman@vsnl.com |
|
Nature of
description of the instrument creating or modifying the charge |
Memorandum. |
|
Date of
instrument Creating the charge |
02.08.2011 |
|
Amount secured by
the charge |
Rs.145.200
Millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest Interest to be
charged at such rate/s as may be determined by the Bank from time to time. Terms of Repayment On demand. Margin As may be
stipulated by the Bank from time to time. Extent and Operation of the charge Company accorded
and gave oral consent to the bank to continue to hold and retain the title
deeds (by way of Constructive delivery) in respect of its immovable properties
as mentioned under Item No.15 as security for repayment of credit facilities
of Rs.145.200 Millions (comprising: Arihant Gold Plast Private Limited and Shree Plastomech of Rs.103.500 Millions and Rs.41.700
Millions respectively), with interest, liquidated damages, costs, charges and
expenses and all other money whatsoever due and payable thereon. |
|
Short particulars
of the property charged |
Immovable
properties being Survey No.678/1/1/2 being lying and situate at Village Naroli
of union Territory of Dadra and Nagar Haveli Immovable
properties being Plots Nos.4206 and 4213 in Sarigam Notified Industrial Area,
Survey No.503/P, Village Fansa, Umbergaon, Gujarat Immovable
properties being Plots Nos.4204, 4214, 4215 and 4216 in Sarigam Notified
Industrial Area, Survey No.503/P, Village Fansa, Umbergaon, Gujarat |
|
Date of latest
modification prior to the present modification |
08.03.2011 |
|
Particulars of
the present modification |
The charge shall
now stand increased upto Rs.145.200 Millions (comprising of facilities of Rs.
103.500 Millions and Rs. 41.700 Millions sanctioned to Arihant Gold Plast
Private Limited and Shree Plastomech respectively), against equitable
mortgage of immovable properties of
the Company being lying and situated at Dadra and Nagar Haveli and Umbergaon. |
FIXED ASSETS:
- Plant and
Machinery
- Computer
- Electrical
Installation
- Motor Car
- Water Cooler
- Air
Conditioner
- Fax Machine
- Computer
Software
- Factory
Building
- Weighing
Machine
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 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.54.85 |
|
|
1 |
Rs.88.40 |
|
Euro |
1 |
Rs.72.63 |
INFORMATION DETAILS
|
Information
Gathered by : |
PJA |
|
|
|
|
Report Prepared
by : |
TPT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
4 |
|
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 |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
42 |
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.