MIRA INFORM REPORT

 

 

Report Date :

29.12.2012

 

IDENTIFICATION DETAILS

 

Name :

OLYMPIC LAMINATES PRIVATE LIMITED

 

 

Registered Office :

6, 1st Floor, Patel Avenue, Near Gurudwara, S. G. Road, Ahmedabad – 380059, Gujarat

 

 

Country :

India

 

 

Financials (as on) :

31.03.2011

 

 

Date of Incorporation :

25.03.1999

 

 

Com. Reg. No.:

04-035650

 

 

Capital Investment / Paid-up Capital :

Rs. 16.500 Millions

 

 

CIN No.:

[Company Identification No.]

U20299GJ1999PTC035650        

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

AHMA02488D / AHMO00240C

 

 

PAN No.:

[Permanent Account No.]

AAACO3029Q

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Manufacturer and Exporter of Decorative Laminates.

 

 

No. of Employees :

160 (Approximately)

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba (48)

 

RATING

STATUS

 

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Maximum Credit Limit :

USD 1100000

 

 

Status :

Satisfactory

 

 

Payment Behaviour :

Usually correct

 

 

Litigation :

Clear

 

 

Comments :

Subject is an established company having a satisfactory track record. The latest financials of the company are not made available.

 

However, as per previous year’s record, the company is found to be performing well. Trade relations are reported as decent. Business is active. Payment terms are usually correct and as per commitment.

 

The company can be considered 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

 

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

CRISIL

Rating

Long term rating : BBB+

Rating Explanation

Moderate degree of safety and moderate credit risk.

Date

November 06, 2012

 

 

Rating Agency Name

CRISIL

Rating

Short term rating : A2+

Rating Explanation

Strong degree of safety and low credit risk.

Date

November 06, 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.

 

 

INFORMATION DECLINED

 

Name :

Mr. Dinesh

Designation :

Accounts Department

Contact No.:

91-79-40017979

Date :

27.12.2012

 

 

LOCATIONS

 

Registered Office :

6, 1st Floor, Patel Avenue, Near Gurudwara, S. G. Road, Ahmedabad – 380059, Gujarat, India

Tel No.:

91-79-40017979

Fax No.:

Not Available

Email :

accounts@royalcrownlaminates.com

royalead@sancharnet.com

 

 

Factory :

Block No. 49-50, Behind Kalpaturu Paper Mill, Village Karoli, Taluka-Kalol, Mehsana, Gujarat, India

Fax No.:

91-79-40017900

Email:

info@royaltouch.com

Area :

8000 sq. mtrs. (Approximately)

Location :

Owned

 

 

DIRECTORS

 

AS ON 29.09.2012

 

Name :

Mr. Bharatkumar Ambalal Patel

Designation :

Director

Address :

9, Sweet Home Society, Shreys Tekra, Ambawadi, Ellisbridge, Ahmedabad – 380015, Gujarat, India

Date of Birth/Age :

27.07.1961

Date of Appointment :

25.03.1999

DIN No.:

00203868

 

 

Name :

Mr. Jitendra Tulsidas Patel

Designation :

Director

Address :

11, Manekbaug Society, Satellite Road, Ahmedabad – 380015, Gujarat, India

Date of Birth/Age :

15.06.1960

Date of Appointment :

09.07.1999

DIN No.:

00204168

 

 

Name :

Mr. Arvindkumar Ambalal Patel

Designation :

Director

Address :

8, Basant Rajab Park Society, Satellite Road, Ahmedabad – 380015, Gujarat, India

Date of Birth/Age :

19.03.1957

Date of Appointment :

25.03.1999

DIN No.:

00211536

 

 

KEY EXECUTIVES

 

Name :

Mr. Dinesh

Designation :

Accounts Department

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

AS ON 29.09.2012

 

Names of Shareholders

No. of Shares

Arvindkumar Ambalal Patel

218620

Bharatbhai Ambalal Patel

220130

Bharatbhai Tulsidas Prasania (Patel)

92000

Bharatbhai Tulsidas Prasania (HUF) (Patel)

64500

Chetanaben Parsania

66500

Dineshkumar Patel

106250

Dineshkumar Patel (HUF)

74400

Geetaben Patel

15000

Hinaben B Parasania

47000

Jay Ashwinbhai Patel

257250

Jitendrakumar Patel

101250

Jitendrakumar Patel (HUF)

64500

Monaben B Patel

15000

Nishaben A Patel

16500

Rajkumar Parasania

86198

Simagauri Parasania

62000

Tulsidas Parasania  (HUF)

63700

Shiv Patel

79202

Total

1650000

 

 

AS ON 29.09.2012

 

Equity Share Breakup

 

Percentage of Holding

Category

 

 

Directors or relatives of directors

 

100.00

Total

 

100.00

 

 

BUSINESS DETAILS

 

Line of Business :

Manufacturer and Exporter of Decorative Laminates.

 

 

PRODUCTION STATUS (AS ON 31.03.2011)

 

Particulars

Unit

Licensed Capacity and Installed Capacity

Actual Production

 

 

 

 

Decorative Laminated Sheets

Nos.

2800000

2076910

 

 

GENERAL INFORMATION

 

Suppliers :

Ø  Akashdeep Papers Private Limited

Ø  Asian Solvochem Private Limited

Ø  Alex Engineering Works

Ø  D D Engineering

Ø  G. E. B. (Uttar Gujarat Vij Company Limited)

Ø  Jayant Shipping Agency Private Limited

Ø  Jay Mahakali Engineering Works

Ø  Lalibhai Trading Company Private Limited

Ø  Multishaper (India) Private Limited

Ø  Surface Logistics

Ø  Rama Krishna Transport Corporation

 

 

Customers :

Wholesalers, Retailers and End Users

 

Ø  Advanced Laminated Private Limited

Ø  Anmol Laminates

Ø  Bhatia Engineering Works

Ø  Deco Mica Limited

Ø  Delta Laminates

Ø  Formica Holdings Limited

Ø  Formica Limited

Ø  MOF Office Automations Private Limited

Ø  Royal Touch Laminates Private Limited

Ø  Sumit Laminart Private Limited

 

 

No. of Employees :

160 (Approximately)

 

 

Bankers :

Ø  Punjab National Bank, Ambawadi Branch, Harikrupa Tower, Eillisbridge, Ahmedabad - 380006, Gujarat, India

Ø  HDFC Bank Limited, Ahmedabad - 380006, Gujarat, India

Ø  ICICI Bank Limited, Landmarkrace Course Circle, Alkapuri, Baroda-390015, Gujarat, India

Ø  Citibank N.A.

 

 

Facilities :

 

Secured Loans

31.03.2011

31.03.2010

 

 

(Rs. In Millions)

Cash Credit A/c No. with Punjab National Bank Ambawadi Branch (Against hypothecation of Raw Material, WIP and Finished Goods and Book Debts)

66.679

36.153

Term Loan A/c. No. 53386 with Punjab National Bank, Ambawadi Branch, (Against hypothecation of Land, Building and Plant and Machinery)

4.441

7.727

Export Loan / (Credit USD A/c No.F081110086 with Citi Bank)

(Secured against personal guarantee of Clean Loan Facility Secured Personal guarantee of Directors)

21.929

0.000

Cash Credit  A/c No. 0710068003 with Citi Bank (Secured Against personal guarantee of Clean Loan facility secured personal guarantee of Directors)

7.160

0.000

Kotak Mahindra Prime Limited

(Secured against Mercedes Car)

3.026

0.000

Total

103.235

43.880

 

 

Unsecured Loans

31.03.2011

31.03.2010

 

 

(Rs. In Millions)

From Directors

11.557

0.190

From Shareholders

6.697

2.014

Total

18.254

2.204

 

 

 

Banking Relations :

--

 

 

Auditors :

 

Name :

Praodkumar Dad and Associates

Chartered Accountants

Address :

110-112, Ashwamegh Avenue, Near Mithakhali Underbridge, Navrangpura, Ahmedabad - 380009, Gujarat, India

Tel. No.:

91-79-26466027

Mobile No.:

91-9824031207

Fax No.:

91-79-26466027

E-Mail :

capksassociates@yahoo.co.in

Income-tax PAN of auditor or auditor's firm :

AACFP3352Q

 

 

Subsidiary :

Olympic Glass Private Limited

 

 

Enterprises over which key management personnel have significant influence :

Ø  Meghdev Enterprises

Ø  Royal Touch Laminates Private Limited

Ø  Silk Touch Vitrified Private Limited

 

 

CAPITAL STRUCTURE

 

AS ON 31.03.2012

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

1,650,000

Equity Shares

Rs. 10/- each

Rs. 16.500 Millions

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

1,650,000

Equity Shares

Rs. 10/- each

Rs. 16.500 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

16.500

16.500

16.500

2] Share Application Money

0.000

0.000

0.000

3] Reserves & Surplus

270.343

224.997

153.181

4] (Accumulated Losses)

0.000

0.000

0.000

NETWORTH

286.843

241.497

169.681

LOAN FUNDS

 

 

 

1] Secured Loans

103.235

43.880

32.694

2] Unsecured Loans

18.254

2.204

39.376

TOTAL BORROWING

121.489

46.084

72.070

DEFERRED TAX LIABILITIES

5.767

6.148

5.642

 

 

 

 

TOTAL

414.099

293.729

247.393

 

 

 

 

APPLICATION OF FUNDS

 

 

 

 

 

 

 

FIXED ASSETS [Net Block]

139.038

117.607

93.052

Capital work-in-progress

0.000

0.000

16.782

 

 

 

 

INVESTMENT

0.129

0.160

0.000

DEFERREX TAX ASSETS

0.000

0.000

0.000

 

 

 

 

CURRENT ASSETS, LOANS & ADVANCES

 

 

 

 

Inventories
260.879

196.940
130.525

 

Sundry Debtors
121.368

93.173
68.771

 

Cash & Bank Balances
76.629

50.842
0.555

 

Other Current Assets
0.000

0.000
0.000

 

Loans & Advances
1.267

1.861
21.093

Total Current Assets
460.143

342.816

220.944

Less : CURRENT LIABILITIES & PROVISIONS

 

 

 

 

Sundry Creditors
133.618

140.278

66.965

 

Other Current Liabilities
28.291

3.922
2.184

 

Provisions
23.302

22.654
14.236

Total Current Liabilities
185.211

166.854

83.385

Net Current Assets
274.932

175.962
137.559

 

 

 

 

MISCELLANEOUS EXPENSES

0.000

0.000

0.000

 

 

 

 

TOTAL

414.099

293.729

247.393

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

31.03.2011

31.03.2010

31.03.2009

 

SALES

 

 

 

 

 

Income

930.347

754.449

629.584

 

 

Other Income

0.311

0.246

 0.355

 

 

TOTAL                                     (A)

930.658

754.695

629.939

 

 

 

 

 

Less

EXPENSES

 

 

 

 

 

Raw Material Consumed

746.884

534.485

475.149

 

 

Direct Expenses

22.424

22.970

19.712

 

 

Manufacturing and other Factory Expenses

61.933

51.802

41.524

 

 

Salary and Wages

13.310

9.581

7.334

 

 

Administration and General Expenses

4.873

2.976

2.925

 

 

Selling and Distribution Expenses

21.094

14.699

14.502

 

 

Director Remuneration

0.408

0.816

 0.816

 

 

Increase/(Decrease) in Finished Goods

(36.207)

2.493

 (2.646)

 

 

TOTAL                                     (B)

834.719

639.822

559.316

 

 

 

 

 

Less

PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B)     (C)

95.939

114.873

70.623

 

 

 

 

 

Less

FINANCIAL EXPENSES                                    (D)

9.626

5.156

5.190

 

 

 

 

 

 

PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D)                                       (E)

86.313

109.717

65.433

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION                     (F)

17.999

14.769

 11.904

 

 

 

 

 

 

PROFIT BEFORE TAX (E-F)                              (G)

68.314

94.948

53.529

 

 

 

 

 

Less

TAX                                                                  (H)

22.922

23.118

13.575

 

 

 

 

 

 

PROFIT AFTER TAX (G-H)                                (I)

45.392

71.830

39.954

 

 

 

 

 

Less

PRIOR PERIOD (INCOME) / EXPENSES

0.047

0.013

0.114

 

 

 

 

 

Add

PREVIOUS YEARS’ BALANCE BROUGHT FORWARD

119.998

53.181

18.341

 

 

 

 

 

Less

APPROPRIATIONS

 

 

 

 

 

Transfer to General Reserve

5.000

5.000

5.000

 

BALANCE CARRIED TO THE B/S

160.343

119.998

53.181

 

 

 

 

 

 

EXPORT VALUE

104.999

100.246

84.852

 

 

 

 

 

 

IMPORTS

 

 

 

 

 

Raw Materials

186.236

149.682

136.729

 

 

Capital Goods

11.916

4.351

10.318

 

TOTAL IMPORTS

198.152

154.033

147.047

 

 

 

 

 

 

Earnings Per Share (Rs.)

27.51

43.53

24.21

 

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2011

31.03.2010

31.03.2009

PAT / Total Income

(%)
4.88

9.52

6.34

 

 
 

 

 

Net Profit Margin

(PBT/Sales)

(%)
7.34

12.59

8.50

 

 
 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)
11.40

20.62

17.05

 

 
 

 

 

Return on Investment (ROI)

(PBT/Networth)

 
0.24

0.39

0.32

 

 
 

 

 

Debt Equity Ratio

(Total Liability/Networth)

 
1.07

0.88

0.92

 

 
 

 

 

Current Ratio

(Current Asset/Current Liability)

 
2.48

2.05

2.65

 

 

LOCAL AGENCY FURTHER INFORMATION

 

 

SUNDRY CREDITORS DETAILS:

 

Particulars

31.03.2011

 

31.03.2010

 

31.03.2009

 

(Rs. In Millions)

Sundry Creditors for Goods

122.490

130.429

58.865

Sundry Creditors for Capital Goods

0.132

1.133

0.315

Sundry Creditors for Expenses

10.996

8.716

7.785

Total

133.618

140.278

66.965

 

 

SUNDRY CREDITORS PARTIAL DETAILS

(Rs. In Millions)

Particulars

 

31.03.2011

31.03.2010

31.03.2009

Sundry Creditors

 

 

Akashdeep Papers Private Limited

0.209

2.755

 

Asian Solvochem Private Limited

15.220

0.000

 

Alex Engineering Works

0.132

0.495

 

D D Engineering

0.033

0.183

66.965

G. E. B. (Uttar Gujarat Vij Company Limited)

1.375

1.562

 

Jayant Shipping Agency Private Limited

0.161

0.175

 

Jay Mahakali Engineering Works

0.483

0.057

 

Lalibhai Trading Company Private Limited

0.352

0.256

 

Multishaper (India) Private Limited

0.187

0.081

 

Surface Logistics

0.499

0.080

 

Rama Krishna Transport Corporation

0.105

0.141

 

 

 

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

Yes

5]

Type of Business

Yes

6]

Line of Business

Yes

7]

Promoter's background

Yes

8]

No. of employees

Yes

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

Yes

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

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

Yes

 

 

Note: The registered office of the company has been has been shifted from Shree Complex, 3rd Floor, Opposite Sardar Patel Stadium, Navrangpura, Ahmedabad – 380017, Gujarat, India to the present address w.e.f.16.10.2009

 

 

FIXED ASSETS

 

Ø  Factory and Other Land

Ø  Tubewell

Ø  Building

Ø  Staff Colony

Ø  Plant and Machinery

Ø  Fire Extinguishment

Ø  Electrical Fitting

Ø  Lab Equipments

Ø  Factory Stores

Ø  Tools Hand Tools

Ø  Welding Machine

Ø  Furniture and Fixture

Ø  Air Conditioner

Ø  Computer

Ø  Telecom Tools

Ø  Vehicles  

 

 

 

 

 

 

CMT REPORT (Corruption, Money Laundering & Terrorism]

 

The Public Notice information has been collected from various sources including but not limited to: The Courts, India Prisons Service, Interpol, etc.

 

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

UK Pound

1

Rs. 88.55

Euro

1

Rs. 72.63

 

 

INFORMATION DETAILS

 

Information Gathered by :

PDT

 

 

Report Prepared by :

BVA

 

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

4

PAID-UP CAPITAL

1~10

4

OPERATING SCALE

1~10

7

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

7

--PROFITABILIRY

1~10

5

--LIQUIDITY

1~10

5

--LEVERAGE

1~10

5

--RESERVES

1~10

5

--CREDIT LINES

1~10

6

--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

YES

--LISTED

YES/NO

NO

--OTHER MERIT FACTORS

YES/NO

YES

TOTAL

 

48

 

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

-

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.