|
Report Date : |
15.02.2012 |
IDENTIFICATION DETAILS
|
Name : |
TRAVANCORE COCOTUFT PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Limcoir Park, Thiruvizha Cherthala, Alappuzha – 688539, Kerala |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
03.03.2000 |
|
|
|
|
Com. Reg. No.: |
09-013734 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs. 37.500 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U17214KL2000PTC013734 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
TVDT00626D |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturing and Exporting of PVC Tufted Coir Mats, Carpets, Mattings, Floor Coverings and Wall Coverings. |
|
|
|
|
No. of Employees
: |
60 (Approximately) |
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 400000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track. The
company has incurred a loss in the current year. However, 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 : |
Limcoir Park, Thiruvizha Cherthala, Alappuzha – 688539, Kerala, India |
|
Tel. No.: |
91-478-2811034/ 2813966 |
|
Fax No.: |
91-478-2811135/ 2818034 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Factory : |
|
|
Tel. No.: |
91-478-2811034/2813966 |
|
Fax No.: |
91-478-2811135/2818034 |
|
E-Mail : |
DIRECTORS
AS ON 30.09.2011
|
Name : |
Mr. Veliyil Velayudhan Pavithran
|
|
Designation : |
Managing Director |
|
Address : |
Laxmi Sadanam, CMC-14, Maruthoorvarrom P. O. Cherthala
Alappurha-688545, Kerala, India |
|
Date of Birth/Age : |
16.01.1932 |
|
Date of Appointment : |
12.08.1999 |
|
DIN No.: |
00026418 |
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 |
U18101KL1995PLC008865 |
TRAVANCORE
TRENDS LIMITED |
Director |
31-03-95 |
31-03-95 |
Active |
NO |
|
2 |
U17117KL1995PTC009503 |
TRAVANCORE
WOOLS AND WEAVES PRIVATE LIMITED |
Director |
10-10-95 |
10-10-95 |
Under
liquidation |
NO |
|
3 |
U17115KL1999PTC013276 |
WILTON
WEAVERS PRIVATE LIMITED |
Director |
06-09-99 |
06-09-99 |
Active |
NO |
|
4 |
U17214KL2000PTC013734 |
TRAVANCORE
COCOTUFT PRIVATE LIMITED |
Managing
director |
03-03-00 |
03-03-00 |
Active |
NO |
|
5 |
U17226KL2005PTC017785 |
EXTRAWEAVE
PRIVATE LIMITED |
Director |
13-01-05 |
13-01-05 |
Active |
NO |
|
6 |
U17119KL2005PTC018518 |
ALAPPUZHA
NATURAL FIBRE INFRASTRUCTURE DEVELOPMENT COMPANY PRIVATE LIMITED |
Director |
30-03-06 |
30-03-06 |
Active |
NO |
|
7 |
U17117KL2006PTC019853 |
UNITED
SPINNERS PRIVATE LIMITED |
Director |
18-09-06 |
18-09-06 |
Active |
NO |
|
8 |
U91200KL1939NPL000034 |
ASSOCIATED
COTTAGE INDUSTRIES AND SHIPPERS UNION |
Director |
29-09-07 |
29-09-07 |
Active |
NO |
|
9 |
U91900KL2009NPL024281 |
FEDERATION
OF INDIAN COIR EXPORTERS’ ASSOCIATIONS |
Nominee
director |
08-06-09 |
08-06-09 |
Active |
NO |
|
Name : |
Mr. Santosh Veliyil Velayudhan |
|
Designation : |
Director |
|
Address : |
Jovial Bunglow, CMC-1, V, Floor Vattom. P.O Cherthala,
Alappurha-688524, Kerala, India |
|
Date of Birth/Age : |
13.09.1956 |
|
Date of Appointment : |
03.03.2000 |
|
DIN No.: |
00465132 |
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 |
U18101KL1995PLC008865 |
TRAVANCORE
TRENDS LIMITED |
Whole-time
director |
31-03-95 |
31-03-95 |
Active |
NO |
|
2 |
U17117KL1995PTC009503 |
TRAVANCORE
WOOLS AND WEAVES PRIVATE LIMITED |
Managing
director |
10-10-95 |
10-10-95 |
Under
liquidation |
NO |
|
3 |
U17115KL1999PTC013276 |
WILTON
WEAVERS PRIVATE LIMITED |
Managing
director |
06-09-99 |
06-09-99 |
Active |
NO |
|
4 |
U17214KL2000PTC013734 |
TRAVANCORE
COCOTUFT PRIVATE LIMITED |
Director |
03-03-00 |
03-03-00 |
Active |
NO |
|
5 |
U17226KL2005PTC017785 |
EXTRAWEAVE
PRIVATE LIMITED |
Director |
13-01-05 |
13-01-05 |
Active |
NO |
|
6 |
U17117KL2006PTC019853 |
UNITED
SPINNERS PRIVATE LIMITED |
Director |
18-09-06 |
18-09-06 |
Active |
NO |
|
7 |
U85199KL2006PTC019152 |
KINDER
MEDICAL SERVICES PRIVATE LIMITED |
Director |
25-06-09 |
25-06-09 |
Active |
NO |
|
8 |
U70100KL2011PTC028229 |
NIHANTA
REALITIES PRIVATE LIMITED |
Director |
26-04-11 |
26-04-11 |
Active |
NO |
|
9 |
U35999KL2011PTC028293 |
INDIA
METAL CONSTRUCTION PRIVATE LIMITED |
Director |
03-05-11 |
03-05-11 |
Active |
NO |
|
Name : |
Mr. Velayudhan Ravindra Prasad |
|
Designation : |
Director |
|
Address : |
Ashabhavn, CMC-I, Velooravattom P.O. Cherthala, Alappurha-688524,
Kerala, India |
|
Date of Birth/Age : |
01.10.1934 |
|
Date of Appointment : |
12.08.1999 |
|
DIN No.: |
00026426 |
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 |
U18101KL1995PLC008865 |
TRAVANCORE
TRENDS LIMITED |
Managing
director |
03-05-95 |
03-05-95 |
Active |
NO |
|
2 |
U17117KL1995PTC009503 |
TRAVANCORE
WOOLS AND WEAVES PRIVATE LIMITED |
Director |
10-10-95 |
10-10-95 |
Under
liquidation |
NO |
|
3 |
U17115KL1999PTC013276 |
WILTON
WEAVERS PRIVATE LIMITED |
Director |
06-09-99 |
06-09-99 |
Active |
NO |
|
4 |
U17214KL2000PTC013734 |
TRAVANCORE
COCOTUFT PRIVATE LIMITED |
Director |
03-03-00 |
03-03-00 |
Active |
NO |
|
5 |
U17226KL2005PTC017785 |
EXTRAWEAVE
PRIVATE LIMITED |
Director |
13-01-05 |
13-01-05 |
Active |
NO |
|
6 |
U17117KL2006PTC019853 |
UNITED
SPINNERS PRIVATE LIMITED |
Director |
18-09-06 |
18-09-06 |
Active |
NO |
|
7 |
U35999KL2011PTC028293 |
INDIA
METAL CONSTRUCTION PRIVATE LIMITED |
Director |
03-05-11 |
03-05-11 |
Active |
NO |
|
8 |
U55101KL2011PTC028391 |
LUCKY
LAKE RESORTS PRIVATE LIMITED |
Director |
13-05-11 |
13-05-11 |
Active |
NO |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2011
|
Names of Shareholders |
No. of Shares |
|
Pavithran V.V. |
125000 |
|
Santosh V.V |
125000 |
|
Prasad V.R |
125000 |
|
|
|
|
Total |
375000 |
AS ON 30.09.2011
|
Equity Shares
Break Up |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing and Exporting of PVC Tufted Coir Mats, Carpets, Matting’s, Floor Coverings and Wall Coverings. |
|
|
|
|
Products : |
PVC Tufted and Coir Amts |
GENERAL INFORMATION
|
Suppliers : |
·
Anju Industrial Products ·
Aroma Organics Limited ·
Gokulam Coir Products ·
Kadavl Chemicals ·
Power Additivers (India) Private Limited ·
Pidilite Industries Limited ·
Nikhil Adhesives Limited ·
Perfect Chemical Carriers ·
A J Enterprises ·
Arun Plastics ·
UPS Jetair Express Private Limited ·
The New India Assurance Company Limited ·
The Kerala State Coir Corporation Limited ·
Zim Integrated SHPG Services (India) Private
Limited |
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|
Customers : |
·
General Mat Company Private Limited ·
Free Market International Trading ·
Classic Imports INC ·
CANAC ·
Manjoo Enterprise Limited ·
Innovations Directed Pty Limited ·
Maruwa Trading Company Limited ·
Paris Centre ·
The United Agencies Pte Limited ·
William F. Kempf and Son. Inc ·
Kaybee Exim Pte. Limited ·
Paris Centre |
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|
No. of Employees : |
60 (Approximately) |
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Bankers : |
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Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Rangamani and Company Chartered Accountants |
|
Address : |
PB No. 3807, North Of Iron Bridge, Rose Gardens, Allappey-688 011,
Kerala, India |
|
Pan No.: |
AAKFR6558G |
|
|
|
|
Associates : |
·
Travencore Mats and Matting ·
Extra Weave
|
CAPITAL STRUCTURE
AS ON 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
375000 |
Equity Shares |
Rs.100/- each |
Rs. 37.500 Millions |
|
|
|
|
|
Issued Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
375000 |
Equity Shares |
Rs.100/- each |
Rs. 37.500 Millions |
|
|
|
|
|
Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
375000 |
Equity Shares |
Rs.100/- each |
Rs. 37.500 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 |
37.500 |
37.500 |
37.500 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
62.772 |
71.232 |
53.189 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
100.272 |
108.732 |
90.689 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
216.584 |
191.784 |
158.589 |
|
|
2] Unsecured Loans |
10.966 |
13.351 |
16.801 |
|
|
TOTAL BORROWING |
227.550 |
205.135 |
175.390 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
HO/ Branch |
6.625 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
334.447 |
313.867 |
266.079 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
108.871 |
102.986 |
87.138 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.675 |
0.677 |
0.676 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
112.936
|
64.364
|
73.390 |
|
|
Sundry Debtors |
92.499
|
132.531
|
115.260 |
|
|
Cash & Bank Balances |
11.987
|
14.121
|
2.784 |
|
|
Other Current Assets |
16.888
|
16.054
|
15.410 |
|
|
Loans & Advances |
0.000
|
0.000 |
0.000 |
|
Total
Current Assets |
234.310
|
227.070 |
206.844 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
7.844
|
11.287
|
22.100 |
|
|
Other Current Liabilities |
8.190
|
5.579
|
6.479 |
|
|
Provisions |
0.000
|
0.000 |
0.000 |
|
Total
Current Liabilities |
16.034
|
16.866 |
28.579 |
|
|
Net Current Assets |
218.276
|
210.204
|
178.265 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
6.625 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
334.447 |
313.867 |
266.079 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
|
|
|
|
|
|
|
GROSS SALES |
459.571 |
509.741 |
460.170 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX |
(5.734) |
20.785 |
10.028 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
2.726 |
0.549 |
3.132 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX |
(8.460) |
20.236 |
6.896 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Proposed Dividend |
-- |
1.875 |
-- |
|
|
|
Tax on Proposed Dividend |
-- |
0.319 |
-- |
|
|
|
|
|
|
|
|
|
EXPORT VALUE |
390.530 |
508.119 |
NA |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
(22.56) |
53.96 |
18.39 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(1.67)
|
6.30
|
3.41 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.06)
|
0.18
|
0.11 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
2.43
|
2.04
|
2.25 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
14.61
|
1.03
|
1.45 |
LOCAL AGENCY FURTHER INFORMATION
MANAGEMENT
DISCUSSIONS AND ANALYSIS
FINANCIAL
PERFORMANCE
The performance of
the company during the year was satisfactory
though the financial results were
negative in profit as well as sales. During the current year, there was a fall in sales by 9.84% compared to last year, mainly due to
non acceptance of orders at the
current price because of the un- precedented shortage and non availability of coir yarn added with steep increase in price. The operating profit before interest
and depreciation was around 32.809 Millions but the high working
capital demand had to be met with bank borrowings loosing
heavily on interest. This is the first failure after the incorporation of the
company. "Failure tests them and
allows them to grow. It offers
them lessons and guides them along the path of success".
INDUSTRY
DEVELOPMENTS
The coir business
is labor intensive and employs a number of male and female workers right from raw material stage to the production
front. Internal demand within the country for coir products are very thin and
export is the only way to sustain the
industry. The global economic downturn that started in late 2008 impacting
economies of the world to varying
degrees had affected export
of coir to certain part of the continent but cent percent recovery and boom is
yet to be fully achieved by
the industry. The stiff competition experiencing in the industry from among the
manufacturing countries limits the earnings to a large extent together with
internal shortage of raw material and
its hike in cost along with labor.
OUTLOOK
With the revival
of world economy after the slow down, the
chances of export to USA and
European countries are bright. The company being 100% EOU will earn a good
share of the market brightened after the gloom. The temporary setback suffered
by the company during the last financial year will be reversed this year with more export sale to existing and other European
countries brought to their order book during
the recent international trade
fair held at Hong Kong.
FORM 8
|
Charge
identification number of the modified |
U17214KL2000PTC013734 |
|
Corporate
identity number of the company |
TRAVANCORE
COCOTUFT PRIVATE LIMITED |
|
Name of the
company |
Limcoir Park, Thiruvizha Cherthala, Alappuzha – 688539, Kerala |
|
This form is for |
Creation of
charge |
|
Type of charge |
Book Debts Movable Property Immovable
Property |
|
Particular of
charge holder |
|
|
Nature of
description of the instrument creating or modifying the charge |
1.
Agreement
of Hypothecation 2.
Letter
evidencing equitable mortgaged by deposit of title deeds |
|
Date of
instrument Creating the charge |
05.08.2010 |
|
Amount secured by
the charge |
Rs.11.000
millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest As stipulated by
the bank time to time Terms of Repayment As stipulated by
the bank time to time Margin As stipulated by
the bank time to time Extent and Operation of the charge This is a charge
on specific movable and Immovable properties of the company. |
|
Short particulars
of the property charged |
261 cents in Sy.No.299/2,
3,4,5,15 and 16A in Cherthala village. 85 cents in Sy.
No. 298/13,14,15,16,19 and 20 in Cherthala South. All produce,
goods, machinery, motor vehicles and its accessories and implements etc.,
book debts and any other movable assets belonging to the borrowers |
FIXED ASSETS:
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. 49.33 |
|
|
1 |
Rs. 77.41 |
|
Euro |
1 |
Rs. 64.83 |
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 |
NO |
|
--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.