MIRA
INFORM REPORT
|
Report Date : |
02.02.2012 |
IDENTIFICATION DETAILS
|
Name : |
DANA INDIA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Survey No.278, Village, Mann Hinjewadi, Taluka, Mulshi, Pune – 411057,
Maharashtra |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2010 |
|
|
|
|
Date of
Incorporation : |
06.03.2000 |
|
|
|
|
Com. Reg. No.: |
11-015131 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 88.199 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74999PN2000PTC015131 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Automotive Components and Ancillaries |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 2700000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track records. 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 – September 30, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
LOCATIONS
|
Registered Office : |
Survey No.278, |
|
Tel. No.: |
91- 20-30436000 |
|
Fax No.: |
Not Available |
|
E-Mail : |
DIRECTORS
AS ON 15.07.2011
|
Name : |
Mr. Rino Tarolli |
|
Designation : |
Director |
|
Address : |
Via Ballino 3, |
|
Date of Birth/Age : |
08.06.1957 |
|
Date of Appointment : |
27.09.2005 |
|
DIN No.: |
00449913 |
|
|
|
|
Name : |
Mr. Chandrakant Somabhai Patel |
|
Designation : |
Director |
|
Address : |
B-2/58, Safdarjung Enclave, |
|
Date of Birth/Age : |
10.09.1939 |
|
Date of Appointment : |
05.04.2000 |
|
DIN No.: |
00028753 |
Other Directorship:
|
S.No. |
CIN |
Name
of the Company |
Current
designation of the director |
Date
of appointment at current designation |
Original
date of appointment |
Date
of cessation |
Company
Status |
Defaulting
status |
|
1 |
U74899DL1966PLC004919 |
MAHLE
FILTER SYSTEMS (INDIA) LIMITED |
Director |
08-08-81 |
08-08-81 |
28-08-09 |
Active |
NO |
|
2 |
U99999DL1983PTC016655 |
ANAND
AND ANAND PRIVATE LIMITED |
Director |
29-09-83 |
29-09-83 |
- |
Active |
NO |
|
3 |
U99999MH1962PLC012316 |
PERFECT
CIRCLE INDIA LIMITED |
Director |
18-07-95 |
18-07-95 |
- |
Active |
NO |
|
4 |
U74899DL1996PLC076149 |
ECHLIN
INDIA LIMITED |
Director |
18-12-98 |
18-12-98 |
- |
Strike
off |
NO |
|
5 |
U99999MH1998PLC118876 |
HALDEX
INDIA LIMITED |
Director |
03-03-99 |
03-03-99 |
30-09-09 |
Active |
NO |
|
6 |
U74999PN2000PTC015131 |
DANA
INDIA PRIVATE LIMITED |
Director |
05-04-00 |
05-04-00 |
- |
Active |
NO |
|
7 |
L34101PN1961PLC015735 |
GABRIEL
INDIA LIMITED |
Director |
30-10-00 |
30-10-00 |
21-05-08 |
Active |
NO |
|
8 |
U34300MH1993PLC073227 |
SPICER
INDIA LIMITED |
Director |
19-01-09 |
20-01-01 |
29-09-09 |
Active |
NO |
|
9 |
U29117PN2001PLC018092 |
VICTOR
GASKETS INDIA LIMITED |
Director |
19-07-01 |
19-07-01 |
15-10-09 |
Active |
NO |
|
10 |
U52110DL1983PLC016656 |
ANAND
PRODUCTS LIMITED |
Director |
28-09-01 |
28-09-01 |
- |
Amalgamated |
NO |
|
11 |
U74210PN2001PTC129657 |
DANA
INDIA TECHNICAL CENTRE PRIVATE LIMITED |
Director |
08-05-02 |
08-05-02 |
- |
Active |
NO |
|
12 |
U85110DL1981PLC191868 |
DYTEK
INDIA LIMITED |
Director |
19-12-02 |
19-12-02 |
- |
Active |
NO |
|
13 |
U74999MH1975PLC206199 |
ANAND
AUTOMOTIVE LIMITED |
Director |
14-02-03 |
14-02-03 |
24-10-10 |
Active |
NO |
|
14 |
U29197DL1997PTC163461 |
MAHLE
FILTER SYSTEMS (INDIA) PRIVATE LIMITED |
Director |
23-03-05 |
23-03-05 |
- |
Amalgamated |
NO |
|
15 |
U29199HR2006PLC043262 |
FEDERAL-MOGUL
BEARINGS INDIA LIMITED |
Director |
02-06-09 |
17-07-06 |
- |
Active |
NO |
|
16 |
U29130TN1997FTC037962 |
FAURECIA
EMISSIONS CONTROL TECHNOLOGIES INDIA PRIVATE LIMITED |
Alternate
director |
07-04-08 |
07-04-08 |
07-04-08 |
Active |
NO |
|
Name : |
Mr. Yue Zheng |
|
Designation : |
Alternate Director |
|
Address : |
Room 401, 4th Floor, Lane – 2003, Xincun Road, Shanghai,
China – 200436, |
|
Date of Birth/Age : |
16.10.1954 |
|
Date of Appointment : |
19.03.2010 |
|
DIN No.: |
02831583 |
|
|
|
|
Name : |
Mr. Bharat Dev Singh Kanwar |
|
Designation : |
Managing Director |
|
Address : |
A-701, Eves Garden, Baner Road, Baner, Pune-411045, Maharashtra, India
|
|
Date of Birth/Age : |
08.11.1956 |
|
Date of Appointment : |
17.12.2010 |
|
DIN No.: |
00428180 |
Other Directorship:
|
S.No. |
CIN |
Name
of the Company |
Current
designation of the director |
Date
of appointment at current designation |
Original
date of appointment |
Company
Status |
Defaulting
status |
|
1 |
U74999PN2000PTC015131 |
DANA
INDIA PRIVATE LIMITED |
Managing
director |
17-12-10 |
27-09-05 |
Active |
NO |
|
2 |
U74210PN2001PTC129657 |
DANA
INDIA TECHNICAL CENTRE PRIVATE LIMITED |
Whole-time
director |
26-11-10 |
15-06-07 |
Active |
NO |
|
3 |
U34300MH1993PLC073227 |
SPICER
INDIA LIMITED |
Director |
06-12-10 |
06-12-10 |
Active |
NO |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 15.07.2011
|
Names of Shareholders |
No. of Shares |
|
Dana World Trade Corporation, |
4819860 |
|
Dana |
4000000 |
|
Total
|
8819860 |
AS ON 15.07.2011
|
Equity Shares
Break Up |
Percentage |
|
Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s),
Non-resident Indian(s) or Overseas Corporate bodies or Others |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Automotive Components and Ancillaries |
PRODUCTION STATUS (AS ON 31.03.2011)
|
Particulars |
Unit |
Installed
Capacity |
Actual
Production |
|
Axles |
Nos. Per Annum |
45000 |
36870 |
|
Others |
Nos. Per Annum |
-- |
142673 |
Notes:
*As per the
Industrial Policy Notification No. S.O. 477 (E) dated 25th July, 1991 issued by
the Government of India, Ministry of Industry, Department of Industrial Development,
the manufacture of Automobile Ancillary and Components is exempt from
industrial licensing.
**Installed
capacity has been certified by the Management and this has been accepted by the
auditors without verification, this being a technical matter.
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
|
|
|
|
Bankers : |
·
HDFC
Bank Limited, HDFC Bank House Senapati Bapat Marg, Lower Parel West, Mumbai –
400013, Maharashtra, India |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Price Waterhouse Chartered Accountants |
|
Address : |
|
|
PAN No.: |
AAEFP3641G |
|
|
|
|
Holding Company : |
·
Dana World Trade Corporation, USA |
|
|
|
|
Fellow Subsidiaries : |
·
Dana Hungary Gyarto Kft ·
Dana (Wuxi) Techonology Company Limited, China ·
Dana Spicer (Thailand) Limited ·
Dana Spicer Axle Europe ·
Dana Industries Limited ·
Spicer Off-Highway, Belgium ·
Dana Corporation, Crossville Distribution ·
Center. ·
Dana Australia PTY Limited ·
Spicer Ejes Pesados. S.A. |
|
|
|
|
Enterprises exercising significant influence : |
·
Dana Italia, SpA |
CAPITAL STRUCTURE
AS ON 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
30000000 |
Equity Shares |
Rs.10/- each |
Rs. 300.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
8819860 |
Equity Shares |
Rs.10/- each |
Rs. 88.199
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 |
88.199 |
88.198 |
88.198 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
597.718 |
448.662 |
503.282 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
685.917 |
536.860 |
591.480 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
0.000 |
0.000 |
0.000 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
3.126 |
11.734 |
|
|
|
|
|
|
|
|
TOTAL |
685.917 |
539.986 |
603.214 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
160.179 |
171.568 |
195.778 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.495 |
|
|
|
|
|
|
|
|
INVESTMENT |
11.163 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
211.786
|
184.757
|
122.918 |
|
|
Sundry Debtors |
334.778
|
285.899
|
126.438 |
|
|
Cash & Bank Balances |
197.846
|
110.645
|
274.108 |
|
|
Other Current Assets |
3.330
|
5.669
|
1.887 |
|
|
Loans & Advances |
80.227
|
56.108
|
66.524 |
|
Total
Current Assets |
827.967
|
643.078 |
591.875 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
246.264
|
245.928
|
163.904 |
|
|
Other Current Liabilities |
54.845
|
8.834
|
1.649 |
|
|
Provisions |
12.283
|
19.898
|
19.381 |
|
Total
Current Liabilities |
313.392
|
274.660 |
184.934 |
|
|
Net Current Assets |
514.575
|
368.418
|
406.941 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
685.917 |
539.986 |
603.214 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
1560.000 |
835.000 |
1357.221 |
|
|
|
Other Income |
32.000 |
26.000 |
26.811 |
|
|
|
TOTAL (A) |
1592.000 |
851.000 |
1384.032 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Material Consumed |
|
780.000 |
900.178 |
|
|
|
Manufacturing and other expenses |
|
|
174.498 |
|
|
|
TOTAL (B) |
1412.000 |
780.000 |
1074.676 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
|
|
309.356 |
|
|
|
|
[Including |
[Including |
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
Financial |
Financial |
0.315 |
|
|
|
|
Expenses |
Expenses |
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
And Depreciation] |
And Depreciation] |
309.041 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
|
|
22.763 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
180.000 |
71.000 |
286.278 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
31.000 |
22.000 |
83.661 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
149.000 |
49.000 |
202.617 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
384.000 |
443.000 |
240.664 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
0.000 |
5.000 |
0.000 |
|
|
|
Interim Dividend |
0.000 |
103.000 |
0.000 |
|
|
BALANCE CARRIED
TO THE B/S |
533.000 |
384.000 |
443.281 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
786.822 |
365.578 |
952.557 |
|
|
|
Tooling Income |
4.477 |
2.406 |
0.000 |
|
|
TOTAL EARNINGS |
791.299 |
367.984 |
952.557 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
312.194 |
99.222 |
248.863 |
|
|
|
Capital Goods |
0.991 |
0.076 |
41.841 |
|
|
TOTAL IMPORTS |
313.185 |
99.298 |
290.704 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
16.90 |
5.51 |
22.97 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
9.36
|
5.75
|
14.63 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
11.54
|
8.50
|
21.09 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
18.22
|
8.71
|
36.34 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.26
|
0.13
|
0.48 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.46
|
0.51
|
0.31 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.64
|
2.34
|
3.20 |
LOCAL AGENCY FURTHER INFORMATION
NOTE:
Registered office address of the company has been shifted from 29,
Milestone, Pune –
FINANCIAL
PERFORMANCE:
During the year,
the Company recorded net sales of Rs. 1560 million, reflecting an increase of
about 87 % compared to the previous year. The Company has recorded a Profit
before Tax of Rs.180 million in the year, reflecting an increase of about 154%
compared to the previous year.
The Company has
earned foreign exchange, equivalent of Indian Rupees 787 million.
FORM 8
|
Corporate
identity number of the company |
U74999PN2000PTC015131 |
|
Name of the
company |
DANA INDIA
PRIVATE LIMITED |
|
Address of the registered
office or of the principal place of
business in |
Survey No. 278,
Village: Mann-Hinjewadi, Taluka: Mulshi, Pune - 411057, |
|
This form is for |
Modification of
Charge |
|
Type of charge |
Book debts Movable Property Floating Charges |
|
Particular of
charge holder |
HDFC Bank Limited HDFC Bank
Housesenapati Bapat Marg, Lower Parel West, Mumbai – 400013, Maharashtra,
India |
|
Nature of
instrument creating charge |
Supplemental Letter
of Hypothecation of Stocks and Book Debts dated October 27, 2010 |
|
Date of
instrument Creating the charge |
27.10.2010 |
|
Amount secured by
the charge |
Rs. 50.000
millions |
|
Brief of the principal
terms an conditions and extent and operation of the charge |
Rate of Interest
: 10.25% or such
other rate as may be mutually agreed between the company and the bank. Terms of
Repayment : Each Bill of
Exchange will be liquidated by debiting the account of Dana India Private
Limited on the due date. Margin : Margin as may be
stipulated by the Bank from time to time. Extent and
operation of the charge : Exclusive First
charge on all stocks and Book debts of the company both present and future Others : Fund based
facility, being Purchase Bills discounting facility, enhanced from Rs. 35.000
millions to Rs. 50.000 millions |
|
Short Particulars
of the property charged |
Exclusive First charge
on all stocks and Book debts of the company both present and future |
|
Particulars of
the present modification |
Fund based
facility, being Purchase Bills discounting facility, enhanced from Rs. 35.000
millions to Rs. 50.000 millions. |
FIXED ASSETS:
- Plant and
Machinery
- Office
Equipments
- Furniture and
Fixtures
- Computers
- Vehicles
- Software
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] 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. 49.53 |
|
|
1 |
Rs. 77.94 |
|
Euro |
1 |
Rs. 64.65 |
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 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--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 |
|
45 |
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.