MIRA
INFORM REPORT
|
Report Date : |
26.07.2012 |
IDENTIFICATION DETAILS
|
Name : |
SKY APPLIANCES LIMITED (w.e.f.29.06.2004) |
|
|
|
|
Formerly Known
As : |
SKY APPLIANCES PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
1601 Maker Chamber VNariman Point, Mumbai – 400021, |
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Country : |
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|
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Financials (as
on) : |
31.07.2011 |
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|
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|
Date of
Incorporation : |
29.06.2004 |
|
|
|
|
Com. Reg. No.: |
11-147217 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.200.500 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U11204MH2004PLC147217 |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
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|
|
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Line of Business
: |
Manufacturer of Television. |
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|
|
|
No. of Employees
: |
14 (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 6400000 |
|
|
|
|
Status : |
Satisfactory |
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|
|
|
Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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|
Comments : |
Subject is an established company having satisfactory track record. Trade
relations are reported to be fair. Business is active. Payments are reported
to be regular and as per commitment. The company can be considered normal for business dealing at usual
trade terms and condition. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
Long Term Rating – (BBB) |
|
Rating Explanation |
Facilities with this ratings are considered to offer moderate safety
to timely servicing of debts obligation. This service carry modest risk |
|
Date |
15.09.2010 |
RBI DEFAILTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAILTERS’ 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 PARTED BY (GENERAL DETAILS)
|
Name : |
Mr. Dipesh |
|
Designation : |
Purchase Officer |
|
Contact No.: |
91-8460584439 |
|
Date : |
25.07.2012 |
LOCATIONS
|
Registered Office : |
1601 Maker Chamber VNariman Point, Mumbai – 400021, Maharashtra |
|
Tel. No.: |
Not Available |
|
Mobile No.: |
91-8460584439 (Mr. Dipesh) |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Location : |
Owned |
|
|
|
|
Factory : |
46/1.2.3 Survey, Anjar Bhachau Road, Village : Varsamedi,
Taluka-Anjar, Kachchh, Gujarat |
|
Tel. No.: |
91-2836-233741 |
DIRECTORS
As on 29.12.2011
|
Name : |
Mr. Suresh Madhava Hegde |
|
Designation : |
Director |
|
Address : |
51, Plot No. C-1, C-2, Dream Queen, SVP Road, Mumbai – 400054,
Maharashtra, India |
|
Date of Birth/Age : |
19.03.1958 |
|
Date of Appointment : |
17.07.2005 |
|
DIN No.: |
01321882 |
|
|
|
|
Name : |
Mr. Anirudha Venugopal Dhoot |
|
Designation : |
Additional Director |
|
Address : |
101, Videocon House, 1st Floor, 99 Manav Mandir Raod,
Napean Sea Road, Mumbai – 400006, Maharashtra, India |
|
Date of Birth/Age : |
31.03.1978 |
|
Date of Appointment : |
20.11.2008 |
|
DIN No.: |
01620906 |
|
|
|
|
Name : |
Mr. Vivek Dattatray Dharm |
|
Designation : |
Additional Director |
|
Address : |
D-31, Shree Ramkrishna Colony, Behind Markendaya Society, Savedi,
Ahmednagar – 414001, Maharashtra, India |
|
Date of Birth/Age : |
22.11.1964 |
|
Date of Appointment : |
31.01.2011 |
|
DIN No.: |
00214361 |
KEY EXECUTIVES
|
Name : |
Mr. Dipesh |
|
Designation : |
Purchase Officer |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 29.12.2011
|
Names of Shareholders |
|
No. of Shares |
|
Pradipkumar Nandlal Dhoot |
|
100 |
|
Anirudha Venugopal Dhoot |
|
9900 |
|
Videocon Realty and Infrastructures Limited, India |
|
3809300 |
|
Greenfield Appliances Private Limited, India |
|
8700 |
|
Synergy Appliances Private Limited, India |
|
8500 |
|
Solitaire Appliances Private Limited, India |
|
6800 |
|
Tangent Electronic Private Limited, India |
|
6700 |
|
Dome-Bell Electronic India Private Limited, India |
|
3800000 |
|
Shree Dhoot Trading and Agencies Limited, India |
|
3800000 |
|
Waluj Components Private Limited, India |
|
3800000 |
|
Century Appliances Private Limited, India |
|
3800000 |
|
Tekcare India Private Limited, India |
|
1000000 |
|
|
|
|
|
Total |
|
20050000 |
Equity Share Break up (Percentage of Total Equity)
As on 29.12.2011
|
Category |
Percentage |
|
Bodies corporate |
99.95 |
|
Directors or relatives of Directors |
0.05 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Television. |
|
|
|
|
|
|
Product: |
ITC Code No.: |
Product
Description |
|
|
8528.72 |
Colour Television |
|
|
8418.21 |
Refrigerator |
|
|
7011.20 |
Glass Shell |
|
|
|
|
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Exports : |
|
|
|
Products : |
Television |
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|
Countries : |
China |
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Imports : |
|
|
|
Products : |
Raw Material |
|
|
Countries : |
·
Belgium ·
China ·
Maxico |
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|
|
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|
Terms : |
|
|
|
Selling : |
Cash and Credit |
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|
|
|
|
|
Purchasing : |
Cash and Credit |
|
PRODUCTION STATUS (As on 31.03.2011)
|
Particulars |
Unit |
Actual
Production |
|
Glass Shells - Panels and Funnels |
Nos. |
57952 |
|
Electrical & Electronic Appliances |
Nos. |
1975854 |
GENERAL INFORMATION
|
Customers : |
·
Wholesalers ·
Retailers |
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No. of Employees : |
14 (Approximately) |
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Bankers : |
·
Syndicate Bank, Large Corporate Branch, 3rd
Floor, No.10, Homji Street, Fort, Mumbai - 400023, Maharashtra, India ·
Indian Bank, Deccan Gymkhana Branch, 759/62, Prabhat
Road, Deccan Gymkhana, Pune – 411004, Maharashtra, India |
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Facilities : |
(Rs. in Millions)
|
|
|
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Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Kadam and Company Chartered Accountants |
|
Address : |
"Vedant", 8/9 Viraj Estate, Opp. Tarakpur Bus Stand,
Ahmednagar – 414003, Maharashtra, India |
|
PAN.: |
AAIFK3708R |
CAPITAL STRUCTURE
As on 31.07.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
21000000 |
Equity Shares |
Rs.10/- each |
Rs.210.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
20050000 |
Equity Shares |
Rs.10/- each |
Rs.200.500
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.07.2011 |
31.07.2010 |
31.07.2009 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
200.500 |
200.500 |
200.500 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
1403.275 |
1162.654 |
922.149 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
1603.775 |
1363.154 |
1122.649 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
5586.039 |
2716.922 |
1988.747 |
|
|
2] Unsecured Loans |
3850.000 |
3850.000 |
2650.000 |
|
|
TOTAL BORROWING |
9436.039 |
6566.922 |
4638.747 |
|
|
DEFERRED TAX LIABILITIES |
176.132 |
93.276 |
45.852 |
|
|
|
|
|
|
|
|
TOTAL |
11215.946 |
8023.352 |
5807.248 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
3957.736 |
3333.853 |
3511.672 |
|
|
Capital work-in-progress |
1925.558 |
593.300 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
14.422 |
0.156 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
2944.450
|
2788.479 |
1435.388 |
|
|
Sundry Debtors |
2540.909
|
2202.949 |
1319.722 |
|
|
Cash & Bank Balances |
188.088
|
54.898 |
265.510 |
|
|
Other Current Assets |
8.339
|
2.922 |
0.085 |
|
|
Loans & Advances |
703.710
|
67.673 |
24.563 |
|
Total
Current Assets |
6385.496
|
5116.921 |
3045.268 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
435.142
|
862.479 |
565.939 |
|
|
Other Current Liabilities |
564.749
|
74.826 |
153.053 |
|
|
Provisions |
67.375
|
83.573 |
30.700 |
|
Total
Current Liabilities |
1067.266
|
1020.878 |
749.692 |
|
|
Net Current Assets |
5318.230
|
4096.043 |
2295.576 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
11215.946 |
8023.352 |
5807.248 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.07.2011 |
31.07.2010 |
31.07.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
11379.070 |
10361.106 |
5502.171 |
|
|
|
Other Income |
27.347 |
26.913 |
0.576 |
|
|
|
TOTAL (A) |
11406.417 |
10388.019 |
5502.747 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Consumption material changes inventories |
9888.856 |
9038.925 |
|
|
|
|
Manufacturing service costs |
28.764 |
31.484 |
|
|
|
|
Employee related expenses |
25.675 |
24.548 |
|
|
|
|
Administrative selling other expenses |
304.520 |
327.315 |
|
|
|
|
TOTAL (B) |
10247.815 |
9422.272 |
4848.900 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
1158.602 |
965.747 |
653.847 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
654.692 |
475.756 |
312.928 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
503.910 |
489.991 |
340.919 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
205.328 |
180.255 |
164.961 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
298.582 |
309.736 |
175.958 |
|
|
|
|
|
|
|
|
|
Less |
TAX (I) |
57.961 |
71.696 |
56.633 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-I) (J) |
240.621 |
238.040 |
119.325 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
362.653 |
122.149 |
2.277 |
|
|
|
|
|
|
|
|
|
Add |
EXCESS/(SHORT)
PROVISION OF INCOME TAX FOR EARLIER YEARS |
0.000 |
(0.067) |
0.547 |
|
|
|
|
|
|
|
|
|
Add |
MAT
CREDIT ENTITLEMENT OF EARLIER YEARS |
0.000 |
2.531 |
0.000 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
603.274 |
362.653 |
122.149 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
0.000 |
0.000 |
9.424 |
|
|
TOTAL EARNINGS |
0.000 |
0.000 |
9.424 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
760.890 |
425.642 |
122.541 |
|
|
TOTAL IMPORTS |
760.890 |
425.642 |
122.541 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
12.00 |
12.00 |
14.12 |
|
KEY RATIOS
|
PARTICULARS |
|
31.07.2011 |
31.07.2010 |
31.07.2009 |
|
PAT / Total Income |
(%) |
2.11
|
2.29 |
2.17 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
2.62
|
2.99 |
3.20 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
4.68
|
6.05 |
5.78 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.19
|
0.23 |
0.16 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
6.55
|
5.57 |
4.80 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
5.98
|
5.01 |
4.06 |
LOCAL AGENCY FURTHER INFORMATION
Sundry Creditors Details:
Rs. In Millions
|
Particulars |
31.07.2011 |
31.07.2010 |
31.07.2009 |
|
Sundry Creditors |
|
|
|
|
Micro, Small and Medium Enterprise |
0.000 |
0.000 |
0.000 |
|
Others |
435.142
|
862.479 |
565.939 |
|
Total |
435.142
|
862.479 |
565.939 |
|
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 |
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 |
No |
|
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 |
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] |
Passport No of
Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
CONTINGENT LIABILITIES
NOT PROVIDED FOR:
|
PARTICULAR |
31.07.2011 |
|
Letters of Credit opened |
465.303 |
|
Excise Duty demands under dispute [Amount paid under protest Rs.1.943 Millions (Previous year Rs. Nil)] |
175.033 |
|
Sales Tax demands under dispute [(Amount paid under protest Rs.0.600 Million (Previous year Rs. Nil)] |
39.024 |
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate
identity number of the company |
U11204MH2004PLC147217 |
|
Name of the
company |
SKY APPLIANCES
LIMITED |
|
Address of the
registered office or of the principal place of business in India of the company |
1601 Maker
Chamber VNariman Point, Mumbai – 400021, Maharashtra Email: info@skyapp.in |
|
This form is for
|
Creation of charge |
|
Type of charge |
Movable property
(not being pledge) Current Assets |
|
Particular of
charge holder |
Syndicate Bank, Large Corporate Branch, 3rd Floor, No.10,
Homji Street, Fort, Mumbai - 400023, Maharashtra, India |
|
Nature of
instrument creating charge |
Deed of
Hypothecation dated 26th June, 2012 executed by Sky Appliances Limited (the
Company) in favour of Syndicate Bank (the Bank). |
|
Date of
instrument Creating the charge |
26.06.2012 |
|
Amount secured
by the charge |
Rs.3000.000
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest The rate of interest on the RTL facility shall be floating linked to
SBI Base Rate plus spread of 4.00% for the entire tenor period. Terms of Repayment 6 Months from the date of first disbursement. Extent and Operation of the charge The subservient charge operates as inter alia, security for the due
repayment, redemption and discharge by the Company of the term loan facility
of Rs.3000.000 Millions availed jointly by the Company from the Bank together
with all interest, additional interest, default interest, and any other
amounts, fees, costs, charges, expenses and other monies due and payable to
the Lender under the Facility Agreement. Others The Company and
the Bank form time to time. |
|
Short
particulars of the property or asset(s) charged (including complete address
and location of the property) |
Subservient
charge by way of hypothecation of the Company’s entire movables, including
movable machinery, machinery spares, tools and accessories, furniture and
fixtures, vehicles and all other movable assets
including stock of raw materials, consumable stores etc. present and future
and on the current assets both present and future of the Company more Specifically
described in Section 3 of the Deed of Hypothecation copy whereof is attached
to this Form. |
FIXED ASSETS
·
Land
·
Building
·
Plant and Machinery
·
Computers
·
Furniture and Fixtures
·
Office Equipments
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 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.56.37 |
|
|
1 |
Rs.87.44 |
|
Euro |
1 |
Rs.68.04 |
INFORMATION DETAILS
|
Information
Gathered by : |
PJA |
|
|
|
|
Report Prepared
by : |
KVT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
|
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 |
- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.