MIRA
INFORM REPORT
|
Report Date : |
04.01.2012 |
IDENTIFICATION DETAILS
|
Name : |
LEXI PRIVATE LIMITED (w.e.f. 01.04.2009) |
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|
|
Formerly Known
As : |
LEXI PENS ( |
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Registered
Office : |
B-33, 6th Floor, New |
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Country : |
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Financials (as
on) : |
31.03.2011 |
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Date of
Incorporation : |
22.03.2001 |
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Com. Reg. No.: |
11-131336 |
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Capital
Investment / Paid-up Capital : |
Rs.17.333 millions |
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CIN No.: [Company Identification
No.] |
U36991MH2001PTC131336 |
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|
Legal Form : |
Private Limited Liability Company
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Line of Business
: |
Manufacturer and Exporter of High Quality Precision Tip Plastic Ball
Pens, Plastic Gel Pens, Metal Pens and Refills. |
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|
|
|
No. of Employees
: |
800 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (52) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 2358000 |
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|
Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a well established and a reputed company having fine track.
Financial position of the company appears to be sound. Directors are reported to be experienced and respectable businessmen. Trade
relations are reported as fair. Business is active. Payments are reported to
be regular and as per commitments. The company can be considered normal for business dealings at usual
trade terms and conditions. Profit and loss account of the company for the current year is not
available. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
INFORMATION PARTED BY
|
Name : |
Vinay |
|
Designation : |
Accountant |
|
Contact No.: |
91-22-26733700 |
|
Date : |
03.01.2012 |
LOCATIONS
|
Registered Office/ Factory 1 : |
B-33, 6th Floor, New |
|
Tel. No.: |
91-22-26733700 |
|
Fax No.: |
91-22-26733773 |
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E-Mail : |
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|
Website : |
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Location : |
Rented |
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Factory 2 : |
Located at: v
Athiyawad, |
|
Location : |
Owned |
DIRECTORS
As on 30.06.2011
|
Name : |
Mr. Vinod Lakshmandas Sachdev |
|
Designation : |
Chairman cum Managing Director |
|
Address : |
603, |
|
Date of Birth/Age : |
29.05.1959 |
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Date of Appointment : |
22.03.2001 |
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DIN No.: |
00381599 |
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|
|
|
Name : |
Mr. Harsh Vinod Sachdev |
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Designation : |
Whole Time Director |
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Address : |
603, |
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Date of Birth/Age : |
06.03.1986 |
|
Date of Appointment : |
07.07.2009 |
|
DIN No.: |
02594869 |
KEY EXECUTIVES
|
Name : |
Vinay |
|
Designation : |
Accountant |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.06.2011
|
Names of Shareholders |
|
No. of Shares |
|
Vinod Lakshmandas Sachdev |
|
165325 |
|
shikha Sachdeva |
|
8000 |
|
Harsh Sachdeva |
|
5 |
|
Bhagwan Chawla |
|
1 |
|
Sanjeev Yadav |
|
1 |
|
Kisan Thakur |
|
1 |
|
Chandrabhan Shrivastva |
|
1 |
|
Total
|
|
173334 |
As on 30.06.2011
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Directors
or relatives of directors |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of High Quality Precision Tip Plastic Ball
Pens, Plastic Gel Pens, Metal Pens and Refills. |
|
|
|
|
Products : |
v
Writing Instruments v Plastic Pens v Metal Pens v Corporate Promotional Pens v Opaque Pens |
|
|
|
|
Exports : |
|
|
Products : |
v
Writing Instruments v Plastic Pens v Metal Pens v Corporate Promotional Pens v Opaque Pens |
|
Countries : |
v
v
|
|
|
|
|
Imports : |
|
|
Products : |
Machines |
|
Countries : |
v
v
|
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|
|
|
Terms : |
|
|
Selling : |
Depends |
|
|
|
|
Purchasing : |
Depends |
PRODUCTION STATUS (AS ON 31.03.2010)
Licensed and Installed Capacity: Not Applicable
|
Particulars |
Actual
Production (In
Nos.) |
|
Ball Pens |
2090.50 Lacs |
|
Refills |
191.41 Lacs |
|
|
|
GENERAL INFORMATION
|
Suppliers : |
v
A9 Digital Prints v
Accurate Laminates v
Agrawal P. Traders v
AIR COMPRESSOR SPARES v
Air Cool Industrial Services v
Apex Scales v
Artwell Advertising v
Ashu Enterprise v
Balaji Quick Movers v
Bhavsar Printers v
Bul Bul Masterbatch Private Limited v
Creative Polymers Products v
Cri Limited v
Dibishree Engineering and Fabrication v
Duracool Air-conditioning v
First Flight Couriers Limited v
Flyex Worldwide Express v
Goa Industrial Development Corporation v
Hatim Engineering Works v
HCL Infosystems Limited v
Innovations v
K2P Industries v
Kadakia Plastics and Chemicals Private Limited v
Kamal Enterprises v
v
Metro Shine v
Narayan Engineering Private Limited v
Online Exhibition Fixing L.L.C. |
|
|
|
|
Customers : |
Wholesalers, Retailers and Manufacturer v
Aphlur Stores v
A.S. Enterprises v
Bajaj Corporation Limited v
Emcure Pharmaceuticals Limited v
Mahadev Stationery Mart v
Maha Ganesh Stationary v
M. Bansali Agency v
Ostern Private Limited v
Sangita General Store v
Shravan Distributors v
Ujwala Agencies v
Varsha Marketing v
Vijaya Pen Mart v
Mahashakti Traders v
Global Exports v
Archana Agencies v
Bellari Paper Mart v
Booker India Private Limited v
Ganesh General Stores v
Kamal Enterprises v
v
Little Prince v
Nikita Enterprises |
|
|
|
|
No. of Employees : |
800 (Approximately) |
|
|
|
|
Bankers : |
State Bank of |
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|
|
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Banking
Relations : |
-- |
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|
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Auditors : |
|
|
Name : |
J.C. Desai and Company Chartered Accountants |
|
Address : |
610–A, Commerce House, 140, |
|
Mobile No.: |
91-9323469428 |
|
Income-tax
PAN of auditor or auditor's firm : |
AAEPD2343D |
CAPITAL STRUCTURE
As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
200000 |
Equity Shares |
Rs.100/- each |
Rs.20.000 millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
173334 |
Equity Shares |
Rs.100/- each |
Rs.17.333 millions |
|
|
|
|
|
NOTE:
[Of the above, 86,667 equity shares, fully paid up have been
issued as bonus shares by capitalization of the general reserve and share
premium]
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 |
17.333 |
17.333 |
17.333 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
572.113 |
444.666 |
334.804 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
589.446 |
461.999 |
352.137 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
3.383 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
0.000 |
0.000 |
3.383 |
|
|
DEFERRED TAX LIABILITIES |
4.300 |
1.301 |
0.947 |
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|
|
|
|
|
|
|
TOTAL |
593.746 |
463.300 |
356.467 |
|
|
|
|
|
|
|
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APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
267.454 |
146.927 |
79.871 |
|
|
Capital work-in-progress |
0.000 |
88.164 |
26.360 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
159.884
|
78.786
|
97.751
|
|
|
Sundry Debtors |
64.964
|
47.698
|
19.590
|
|
|
Cash & Bank Balances |
55.392
|
86.926
|
98.325
|
|
|
Other Current Assets |
0.000
|
0.000
|
0.000
|
|
|
Loans, Deposits & Advances |
114.685
|
102.353
|
81.239
|
|
Total
Current Assets |
394.925
|
315.763
|
296.905 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
47.746
|
67.675
|
32.996
|
|
|
Other Current Liabilities |
15.648
|
13.113
|
11.918
|
|
|
Provisions |
5.244
|
6.776
|
1.770
|
|
Total
Current Liabilities |
68.638
|
87.564
|
46.684
|
|
|
Net Current Assets |
326.287
|
228.199
|
250.221
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.005 |
0.010 |
0.015 |
|
|
|
|
|
|
|
|
TOTAL |
593.746 |
463.300 |
356.467 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Sales and Service |
|
752.587 |
560.932 |
|
|
|
Other Income |
|
38.378 |
18.065 |
|
|
|
TOTAL (A) |
|
790.965 |
578.997 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Raw Material Consumed |
|
375.533 |
246.459 |
|
|
|
Manufacturing Expenses |
|
52.972 |
30.073 |
|
|
|
Payments to and Provisions for Employees |
|
57.448 |
43.216 |
|
|
|
Sales, administration and other Expenses |
|
95.240 |
58.383 |
|
|
|
Increase/Decrease in Inventories |
|
17.984 |
65.298 |
|
|
|
TOTAL (B) |
|
599.177 |
443.429 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
|
191.788 |
135.568 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
|
2.246 |
1.356 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
|
189.542 |
134.212 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
|
35.801 |
22.120 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
|
153.741 |
112.092 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
|
40.485 |
14.544 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
|
113.256 |
97.548 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
|
300.633 |
218.003 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Interim Dividend |
|
2.600 |
4.333 |
|
|
|
Tax on Interim Dividend |
|
0.442 |
0.736 |
|
|
|
Income Tax of Earlier Year |
|
0.351 |
0.049 |
|
|
|
Transferred to General Reserve |
|
20.000 |
9.800 |
|
|
BALANCE CARRIED
TO THE B/S |
|
390.496 |
300.633 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Exports
on FOB Basis |
|
356.885 |
184.699 |
|
|
TOTAL EARNINGS |
|
356.885 |
184.699 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
|
18.091 |
18.819 |
|
|
|
Capital Goods |
|
122.223 |
26.635 |
|
|
TOTAL IMPORTS |
|
140.314 |
45.454 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
|
653.31 |
562.77 |
|
|
Particulars |
|
|
31.03.2011 |
|
Sales Turnover (Approximately) |
|
|
840.000 |
|
|
|
|
|
Expected Sales (2011-2012): Rs.950.000 millions
The above information has been parted by Vinay (Accountant).
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
NA
|
14.32
|
16.85 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
NA
|
20.43
|
19.98 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
NA
|
33.23
|
29.75 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
NA
|
0.33
|
0.32 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.12
|
0.19
|
0.14 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
5.75
|
3.61 |
6.36 |
LOCAL AGENCY FURTHER INFORMATION
Details of Sundry Creditors:
|
Particulars |
31.03.2011 (Rs. in millions) |
31.03.2010 (Rs. in millions) |
31.03.2009 (Rs. in millions) |
|
Sundry creditors
|
47.746 |
67.675 |
32.996 |
|
|
|
|
|
Details of Sundry Creditors: (Partial
Details)
|
Particulars |
31.03.2011 (Rs. in millions) |
31.03.2010 (Rs. in millions) |
31.03.2009 (Rs. in millions) |
|
Sundry creditors |
|
|
|
|
Aaiji Industrial Hardware and Paints |
0.039 |
0.119 |
NA |
|
Accurate Laminates |
0.302 |
0.321 |
NA |
|
Adm Engineering |
0.022 |
0.022 |
NA |
|
Barafwala and Company - CFA ( |
0.035 |
0.024 |
NA |
|
Bhagavathy Agencies –CFA |
0.036 |
0.043 |
NA |
|
Bhumkar Traders- CFA |
0.027 |
0.034 |
NA |
|
Everest Holovision Limited |
0.184 |
0.121 |
NA |
|
Ferromatik Milacron India Limited |
0.010 |
0.034 |
NA |
|
First Flight Couriers Limited |
0.080 |
0.057 |
NA |
|
Geeta Engineering Works |
0.221 |
0.113 |
NA |
|
Geeta Packaging |
0.025 |
0.044 |
NA |
|
Indian Writing Instruments Private Limited |
10.959 |
8.812 |
NA |
|
J.C. Desai and Company |
0.149 |
0.149 |
NA |
|
Kadakia Plastics and Chemicals Private Limited |
0.796 |
1.094 |
NA |
|
Mudrika Labels Private Limited |
0.599 |
0.221 |
NA |
|
Mudrika Labels Private Limited (Unit II) |
0.293 |
1.170 |
NA |
|
Prayas Enterprises |
1.327 |
0.878 |
NA |
|
Ramdev Enterprise |
0.110 |
0.084 |
NA |
|
Vee |
0.417 |
0.000 |
NA |
|
Velji Dosabhai and Sons Private Limited |
0.144 |
0.433 |
NA |
|
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 |
-- |
|
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 |
No |
|
13) Reasons for
variation <> 20% |
-- |
|
14) Estimation
for coming financial year |
Yes |
|
15) Capital in
the business |
Yes |
|
16) Details of
sister concerns |
Yes |
|
17) Major
suppliers |
No |
|
18) Major
customers |
No |
|
19) Payments
terms |
Yes |
|
20) Export /
Import details (if applicable) |
Yes |
|
21) Market
information |
-- |
|
22) Litigations
that the firm / promoter involved in |
-- |
|
23) Banking
Details |
Yes |
|
24) Banking
facility details |
No |
|
25) Conduct of the
banking account |
-- |
|
26) Buyer visit
details |
-- |
|
27) Financials,
if provided |
No |
|
28) Incorporation
details, if applicable |
-- |
|
29) Last accounts
filed at ROC |
-- |
|
30) Major
Shareholders, if available |
-- |
FORM 8
|
Corporate
identity number of the company |
U36991MH2001PTC131336 |
|
Name of the
company |
LEXI PENS ( |
|
Address of the
registered office or of the principal place of business in |
B -33, 6th Floor, New Link Road, Andheri West, Mumbai –
400053, Maharashtra, India |
|
This form is for |
Modification of charge |
|
Type of charge |
·
Book debts ·
Movable property (not being pledge) ·
Others - Plant and Machinery |
|
Particular of
charge holder |
State Bank of Industrial Finance Branch, Sakinaka, Mumbai – 400072, Email : kamalax_saraf@hotmail.com |
|
Nature of
instrument creating charge |
A) Supplemental general
agreement for the grant of small industrial advances and hypothecation of
goods, book-debts, and other assets (w.c.f ) B) Ancillary
agreement no. 1 C) Ancillary
agreement no. 6 All the above
agreements constitute a single modification. |
|
Date of instrument
Creating the charge |
06.03.2007 |
|
Amount secured by
the charge |
Rs.150.000
millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of interest 1.25% below the
State Bank of Margin Raw material : 25% Stock in
process : 25% Finished
goods : 40% Receivables (60
days) : 33% Letter of
credit : 25% Guarantees : 25% |
|
Short particulars
of the property charged (Including location of the property) |
All present and
future goods, book debts, movables and other assets of the borrower including
documents of title to goods and other assets such as outstandings moneys,
receivables, claims, bills, invoices, documents, contracts, engagements,
securities, investments and rights and the present and all future machinery |
|
Particulars of
the Present modification |
Now by the
Present modification Dated 06.03.2007. The limit has been increased by
Rs.11.000 Millions making Total Rs.150.000 Millions. |
Fixed Assets
v
Capital Work in Progress
v
Land and Buildings
v
Furniture and Fixtures
v
Plant and Machinery
v
Plant and Machinery (Double Shift)
v
Moulds, Dies and Tools
v
Office Equipments
v
Vehicles
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.53.23 |
|
|
1 |
Rs.82.87 |
|
Euro |
1 |
Rs.69.13 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--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 |
NO |
|
--AFFILIATION |
YES/NO |
No |
|
--LISTED |
YES/NO |
No |
|
--OTHER MERIT FACTORS |
YES/NO |
Yes |
|
TOTAL |
|
52 |
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.