1. Summary Information
|
|
|
Country |
|
|
Company Name |
THERMON TRACERS
PRIVATE LIMITED |
Principal Name 1 |
Mr. Jay Carl Peterson |
|
Status |
Satisfactory |
Principal Name 2 |
Mr. Rodney Lynn Bingham |
|
|
|
Registration # |
11-030628 |
|
Street Address |
566+570/1 Koregaonbhimard Shirur, Pune - 412207, |
||
|
Established Date |
16.08.1983 |
SIC Code |
-- |
|
Telephone# |
91-2137-52405 |
Business Style 1 |
Manufacturer |
|
Fax # |
91-2137-52405 |
Business Style 2 |
-- |
|
Homepage |
Not Available
|
Product Name 1 |
Resistance Constant Watt Heating Cable |
|
# of employees |
Not Available |
Product Name 2 |
-- |
|
Paid up capital |
Rs.6,500,000/- |
Product Name 3 |
-- |
|
Shareholders |
Foreign holdings - 100% |
Banking |
Not Available |
|
Public Limited Corp. |
NO |
Business Period |
28 Years |
|
IPO |
NO |
International Ins. |
- |
|
Public |
NO |
Rating |
Ba
(46) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
CEO |
|
Holding
Company |
India
|
Thermon Manufacturing Company |
- |
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2011 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
152,407,000 |
Current Liabilities |
28,521,000 |
|
Inventories |
9,764,000 |
Long-term Liabilities |
0,000 |
|
Fixed Assets |
11,846,000 |
Other Liabilities |
58,053,000 |
|
Deferred Assets |
0,000 |
Total Liabilities |
86,574,000 |
|
Invest& other Assets |
0,000 |
Retained Earnings |
80,943,000 |
|
|
|
Net Worth |
87,443,000 |
|
Total Assets |
174,017,000 |
Total Liab. & Equity |
174,017,000 |
|
Total Assets (Previous Year) |
151,364,000 |
|
|
|
P/L Statement as of |
31.03.2011 |
(Unit: Indian Rs.) |
|
|
Sales |
140,553,000 |
Net Profit |
(3,451,000) |
|
Sales(Previous yr) |
137,879,000 |
Net Profit(Prev.yr) |
30,605,000 |
MIRA
INFORM REPORT
|
Report Date : |
19.06.2012 |
IDENTIFICATION DETAILS
|
Name : |
THERMON TRACERS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
566+570/1 Koregaonbhimard Shirur, Pune - 412207, Maharashtra |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
16.08.1983 |
|
|
|
|
Com. Reg. No.: |
11-030628 |
|
|
|
|
Capital Investment/
Paid-up Capital: |
Rs.6.500 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U99999MH1983PTC030628 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMT09177A |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACT6307Q |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Resistance Constant Watt Heating Cable. |
|
|
|
|
No. of
Employees: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (46) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 340000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track. 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 : |
566+570/1 Koregaonbhimard Shirur, Pune - 412207, Maharashtra, India |
|
Tel. No.: |
91-2137-52405 |
|
Fax No.: |
91-2137-52405 |
|
E-Mail : |
|
|
|
|
|
Branch 1 : |
G-144/145, Kailash Vaibhav Complex Veer Savakar Mrag, Vikhroli
Parksite Vikhroli (West), Mumbai - 400079 India |
|
Tel. No.: |
91-22-25190600/ 25186611 |
|
Fax No.: |
91-22-66716103 |
|
E-Mail : |
|
|
|
|
|
Branch 2 : |
20-P Ballygunge Terrace, Calcutta – 700029, West Bengal, India |
|
Tel. No.: |
91-33-24402620 |
|
Fax No.: |
91-33-24401352/ 4408768 |
|
E-Mail : |
DIRECTORS
As on: 27.09.2011
|
Name : |
Mr. Jay Carl Peterson |
|||||||||||||||||||||||||||
|
Designation : |
Director |
|||||||||||||||||||||||||||
|
Address : |
10129, Planters Woods, Austin, Texas – 78730, USA |
|||||||||||||||||||||||||||
|
Date of Birth/Age : |
26.01.1957 |
|||||||||||||||||||||||||||
|
Date of Appointment : |
07.10.2010 |
|||||||||||||||||||||||||||
|
DIN No.: |
02360288 |
|||||||||||||||||||||||||||
|
Other Directorships :
|
||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Name : |
Mr. Rodney Lynn Bingham |
|||||||||||||||||||||||||||
|
Designation : |
Director |
|||||||||||||||||||||||||||
|
Address : |
4002, Austin, Meadow Drive, Sugarland, Texas – 77479, USA |
|||||||||||||||||||||||||||
|
Date of Birth/Age : |
11.04.1951 |
|||||||||||||||||||||||||||
|
Date of Appointment : |
18.04.2009 |
|||||||||||||||||||||||||||
|
DIN No.: |
02791480 |
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Name : |
Mr. George Peyton Alexander |
|||||||||||||||||||||||||||
|
Designation : |
Director |
|||||||||||||||||||||||||||
|
Address : |
10370, Hwy, Seguin, Texas – 78155, USA |
|||||||||||||||||||||||||||
|
Date of Birth/Age : |
26.08.1950 |
|||||||||||||||||||||||||||
|
Date of Appointment : |
18.04.2009 |
|||||||||||||||||||||||||||
|
DIN No.: |
03278568 |
|||||||||||||||||||||||||||
KEY EXECUTIVES
|
Name : |
Mr. Prasad Shripad Shetye |
|
Designation : |
Manager |
|
Address : |
701, Yog Milan, Grant Road, Mumbai – 400036, Maharashtra, India |
|
Date of Birth/Age : |
20.10.1966 |
|
Date of Appointment : |
22.12.2006 |
|
PAN No.: |
AABFS3421N |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 27.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
Thermon Manufacturing Company, USA |
|
649997 |
|
Thermon Heat Tracing Services - II, Inc., USA |
|
1 |
|
Thermon Heat Tracing Services, Inc, USA |
|
1 |
|
Thermon Heat Tracing Services - I, Inc, USA |
|
1 |
|
|
|
|
|
Total |
|
650000 |
Equity Share Break up (Percentage of Total Equity)
As on: 27.09.2011
|
Category |
|
Percentage |
|
|
|
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
100.00 |
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Resistance Constant Watt Heating Cable. |
PRODUCTION STATUS (As on: 31.03.2011)
|
Particulars |
Unit |
Licensed
Capacity |
|
Heat Transfer Cement |
Kgs |
120000 |
|
Heat Tracers |
Mtrs |
75000 |
|
Hopper Heaters |
Modules |
25000 |
Note:
(As certified by the management and relied
upon by auditors, being a technical matter)
The company is presently not covered by
industrial licensing. Hence details of licensed capacity are not given.
As on: 31.03.2011
|
Particulars |
Unit |
Actual
Production |
|
Heat Transfer Cement |
Kgs |
19350 |
|
Heat Tracers |
Mtrs |
47483 |
|
Thermostats |
Nos |
1060 |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
|
|
|
|
Bankers : |
Not Available |
|
Banking
Relations : |
-- |
|
|
|
|
Financial Institution : |
3i Infotech Trusteeship Services Limited, 6th Floor, Akruti Centre
Point, M.I.D.C. Central Road, Andheri (East), Mumbai - 400093, Maharashtra,
India |
|
|
|
|
Auditors : |
|
|
Name : |
B L Ajmera and Company Chartered Accountants |
|
Address : |
Malji Chhogalal Trust Building, Mirza Ismail Road, Jaipur - 302001,
Rajasthan, India |
|
Tel. No.: |
91-141-2373433 |
|
Fax No.: |
91-141-2371152 |
|
E-Mail : |
|
|
PAN No.: |
AABFB2982K |
|
|
|
|
Holding Company : |
Thermon Manufacturing Company |
CAPITAL STRUCTURE
As on: 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1000000 |
Equity Shares |
Rs.10/- each |
Rs.10.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
650000 |
Equity Shares |
Rs.10/- each |
Rs.6.500
Millions |
|
|
|
|
|
Note:
(Of the above 645,997 shares of Rs.10 each are
held by Thermon Manufacturing Company, USA)
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 |
6.500 |
6.500 |
6.500 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
80.943 |
84.394 |
53.789 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
87.443 |
90.894 |
60.289 |
|
|
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 |
(9.020) |
0.322 |
0.665 |
|
|
|
|
|
|
|
|
TOTAL |
78.423 |
91.216 |
60.954 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
11.846 |
10.524 |
9.326 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
9.764
|
7.850 |
8.313 |
|
|
Sundry Debtors |
32.643
|
58.387 |
87.806 |
|
|
Cash & Bank Balances |
57.450
|
32.319 |
13.967 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
62.314
|
42.284 |
27.022 |
|
Total
Current Assets |
162.171
|
140.840 |
137.108 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditor |
15.003
|
15.497 |
52.433 |
|
|
Other Current Liabilities |
13.518
|
3.661 |
5.523 |
|
|
Provisions |
67.073
|
40.990 |
27.524 |
|
Total
Current Liabilities |
95.594
|
60.148 |
85.480 |
|
|
Net Current Assets |
66.577
|
80.692 |
51.628 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
78.423 |
91.216 |
60.954 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
140.553 |
137.879 |
242.890 |
|
|
|
Other Income |
4.862 |
18.899 |
18.640 |
|
|
|
TOTAL |
145.415 |
156.778 |
261.530 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
132.926 |
109.516 |
224.720 |
|
|
|
|
|
|
|
|
|
PROFIT
FOR THE YEAR BEFORE PROVISION FOR CONTINGENT LIABILITY AND TAXATION |
12.489 |
47.262 |
36.810 |
|
|
|
|
|
|
|
|
|
Less/ Add |
PROVISION FOR
CONTINGENT LIABILITY |
18.705 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
(6.216) |
47.262 |
36.810 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
(2.765) |
16.657 |
12.990 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
(3.451) |
30.605 |
23.820 |
|
|
|
|
|
|
|
|
|
|
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
81.300 |
50.695 |
26.880 |
|
|
|
BALANCE CARRIED
TO THE B/S |
77.849 |
81.300 |
50.700 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Commission Earnings |
0.000 |
17.733 |
16.831 |
|
|
|
Export of Goods |
0.000 |
1.226 |
0.000 |
|
|
|
Export of Services |
0.000 |
2.372 |
0.000 |
|
|
TOTAL EARNINGS |
0.000 |
21.331 |
16.831 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
11.965 |
9.035 |
4.839 |
|
|
|
Tracing System/ Components |
27.954 |
38.269 |
45.012 |
|
|
TOTAL IMPORTS |
39.919 |
47.304 |
49.851 |
|
|
|
|
|
|
|
|
|
|
Earnings/(Loss)
Per Share (Rs.) |
(5.31) |
NA |
NA |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
(2.37)
|
19.52 |
9.11 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
(4.42)
|
34.28 |
15.16 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(3.57)
|
31.22 |
25.14 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.07)
|
0.52 |
0.61 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.09
|
0.66 |
1.42 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.70
|
2.34 |
1.60 |
LOCAL AGENCY FURTHER INFORMATION
|
Available
in Report [Yes/No] |
|
|
Year
of Establishment |
Yes |
|
Locality
of the Firm |
Yes |
|
Constitution
of the firm |
Yes |
|
Premises
details |
No |
|
Type
of Business |
Yes |
|
Line
of Business |
Yes |
|
Promoters
background |
Yes |
|
No.
of Employees |
No |
|
Name
of Person Contacted |
No |
|
Designation
of contact person |
No |
|
Turnover
of firm for last three years |
Yes |
|
Profitability
for last three years |
Yes |
|
Reasons
for variation <> 20% |
- |
|
Estimation
for coming financial year |
No |
|
Capital
the business |
Yes |
|
Details
of sister concerns |
Yes |
|
Major
Suppliers |
No |
|
Major
Customers |
No |
|
Payment
Terms |
No |
|
Export
/ Import Details [If Applicable] |
No |
|
Market
Information |
- |
|
Litigations
that the firm / promoter involved in |
- |
|
Banking
Details |
Yes |
|
Banking
Facility Details |
No |
|
Conduct
of the banking account |
- |
|
Buyer
visit details |
- |
|
Financials,
if provided |
Yes |
|
Incorporation
details, if applicable |
Yes |
|
Last
accounts filed at ROC |
Yes |
|
Major
Shareholders, if applicable |
Yes |
FINANCIAL RESULTS
The financial year ended on a note of satisfaction with the company being able to post a profit before tax and exceptional items of Rs.12.489 millions as against Rs.47.262 millions in the previous year.
REVIEW OF OPERATIONS
The review of operations gives a feeling of achievement. The sales revenue and profits are in line with the expectations. Despite the economic slowdown, the resits of operations have been good. The Company has secured a very large order from a well know company in the oil sector worth an estimated Rs.60.000 millions and few more of similar volume are expected. The company has invested in ERP, the benefits of which should be reaped in the coming years.
FUTURE OUTLOOK
With the growth in the industrial sector continuing to be strong, there is an ongoing demand for there products and services. Company shall continue to focus on large heat tracing contracts in the industrial sector. Company is addressing the need for additional resources by hiring and training required manpower. India and Middle East markets offer good opportunity for growth. The Indian operations are well poised to take advantage of these trends. The coming years are expected show very splendid results, both from revenue as well as from profitability point of view.
FIXED ASSETS
·
Free Hold Land
·
Factory Buliding
·
Leasehold Improvement
·
Plant and Machinery
·
Vehicle
·
Electrical Installations
·
Office Equipments
·
Computers
·
Air Conditioner
·
Furniture and Fixtures
·
Temporary Structures
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.55.60 |
|
|
1 |
Rs.87.34 |
|
Euro |
1 |
Rs.70.66 |
INFORMATION DETAILS
|
Report Prepared
by : |
VRN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
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 |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
46 |
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.