|
Report Date : |
02.03.2012 |
IDENTIFICATION DETAILS
|
Name : |
VORA PACKAGING PRIVATE LIMITED (W.e.f. 05.12.2005) |
|
|
|
|
Formerly Known
As : |
TUVORA PACKAGING PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
467-A, Vora Bhavan, Opposite Maheshwari Udyan, |
|
|
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Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
20.04.1999 |
|
|
|
|
Com. Reg. No.: |
11-119514 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.26.560 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U25202MH1999PTC119514 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMT12661F |
|
|
|
|
PAN No.: [Permanent Account No.] |
AACCT3267D |
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|
|
|
Legal Form : |
Private Limited Liability Company |
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|
|
|
Line of Business
: |
Manufacturer and Exporter of Packaging Materials. |
|
|
|
|
No. of Employees
: |
150 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (26) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 140000 |
|
|
|
|
Status : |
Moderate |
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|
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Payment Behaviour : |
Slow |
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Litigation : |
Clear |
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|
Comments : |
Subject is an established company having moderate track. There appears
to be some accumulated losses recorded by the company. However trade
relations are reported as fair. Business is active. Payments are reported to
be slow. The company can be considered for business dealings with some caution. |
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 : |
Mr. Thakur |
|
Designation : |
Accounts Head |
|
Contact No.: |
91-22-24012330 |
|
Date : |
01.03.2012 |
LOCATIONS
|
Registered Office : |
467-A, Vora Bhavan, Opposite Maheshwari Udyan, |
|
Tel. No.: |
91-22-24012330/ 24012440 |
|
Fax No.: |
91-22-24035297 |
|
E-Mail : |
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|
Website : |
|
|
Location : |
Owned |
|
|
|
|
Factory : |
G-27, MIDC Tarapur, District Thane - 401506, |
|
Tel. No.: |
91-2525-272928/ 274720 |
|
Fax No.: |
91-2525-270447 |
|
|
|
|
Branch Office : |
·
Opposite Shribrahama Chaitanya Mandir ·
Ahmedabad Near Narayan Nagar, Bus Station, Ahmedabad – 380007, |
DIRECTORS
(AS ON 16.08.2011)
|
Name : |
Mr. Pankaj Laxmikant Vora |
|
Designation : |
Director |
|
Address : |
467 – A, Vora Bhavan, Opposite Maheshwari Udyan, Kings Circle, Mumbai
– 400019, Maharashtra, India |
|
Date of Birth/Age : |
26.03.1959 |
|
Qualification : |
BE |
|
Date of Appointment : |
20.04.1999 |
|
DIN No.: |
00575944 |
|
|
|
|
Name : |
Mrs. Shilpa Pankaj Vora |
|
Designation : |
Director |
|
Address : |
467 – A, Vora Bhavan, Opposite Maheshwari Udyan, Kings Circle, Mumbai
– 400019, Maharashtra, India |
|
Date of Birth/Age : |
25.03.1960 |
|
Qualification : |
B. Com |
|
Date of Appointment : |
31.03.2003 |
|
DIN No.: |
00786820 |
|
|
|
|
Name : |
Ms. Mansi Pankaj Vora |
|
Designation : |
Director |
|
Address : |
467 – A, Vora Bhavan, Opposite Maheshwari Udyan, Kings Circle, Mumbai
– 400019, Maharashtra, India |
|
Date of Birth/ Age : |
01.10.1986 |
|
Qualification : |
Post Graduate |
|
Date of Appointment : |
31.07.2009 |
|
DIN No.: |
02594655 |
KEY EXECUTIVES
|
Name : |
Mr. Thakur |
|
Designation : |
Accounts Head |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
(AS ON 16.08.2011)
|
Names of Shareholders |
|
No. of Shares |
|
|
|
|
|
Pankaj Laxmikant Vora |
|
2188960 |
|
Shilpa Pankaj Vora |
|
10323 |
|
Pankaj Vora Jointly with Shilpa Vora |
|
270139 |
|
Shilpa Vora Jointly with Pankaj Vora |
|
74564 |
|
Mansi Vora Jointly with Pankaj Vora |
|
33516 |
|
Kanchi Vora Jointly with Pankaj Vora |
|
33516 |
|
Dolar Koya |
|
7585 |
|
Koya Paroo Jointly with Koya Komal |
|
18698 |
|
Nila Chandarana |
|
18698 |
|
|
|
|
|
Total |
|
2655999 |
(AS ON 30.09.2011)
Equity Shares Break – up
|
Category |
|
Percentage |
|
|
|
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
1.69 |
|
Directors or relatives of directors |
|
98.31 |
|
|
|
|
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Packaging Materials. |
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|
|
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Exports : |
|
|
Products : |
Packaging Material |
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Countries : |
Kenya |
|
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Imports : |
|
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Products : |
Raw Materials |
|
Countries : |
Dubai |
|
|
|
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Terms : |
|
|
Selling : |
L/C, Cash and Credit (30 days) |
|
|
|
|
Purchasing : |
L/C, Cash and Credit (30 days) |
PRODUCTION STATUS (AS ON 31.03.2011)
|
Particulars |
Unit |
Licensed Capacity |
Installed Capacity |
Actual Production |
|
|
|
|
|
|
|
Cap Seals and Liners |
PCS |
Not Applicable |
8000000 |
3677994 |
|
|
|
|
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|
GENERAL INFORMATION
|
Customers : |
Wholesalers, Retailers and End Users |
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No. of Employees : |
150 (Approximately) |
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Bankers : |
· Dena Bank, Maheshwari Udyan Branch, 487-A, Vora Bhuvan, Matunga (C.R), Mumbai -
400019, Maharashtra, India · Saraswat Co-operative Bank Matunga East Branch, Mumbai, Maharashtra, India |
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Facilities : |
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|
|
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Banking
Relations : |
-- |
|
|
|
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Auditors : |
|
|
Name : |
Contrcator Nayak and Kishandwala Chartered Accountants |
|
Address : |
1/B, 1st Floor, Pushpam, |
|
PAN No.: |
AACFC8587E |
CAPITAL STRUCTURE
(AS ON 16.08.2011)
Authorised Capital : Rs.47.000
Millions
Issued, Subscribed & Paid-up Capital : Rs.46.560 Millions
(AS ON 31.03.2011)
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2700000 |
Equity Shares |
Rs.10/- each |
Rs.27.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2655999 |
Equity Shares |
Rs.10/- each |
Rs.26.560
Millions |
|
|
|
|
|
NOTE:
Of the above 2645999 Share have been issued for
consideration other than cash pursuant to the court order for de merger dated
06th May 2005)
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 |
26.560 |
26.560 |
26.560 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
18.256 |
18.256 |
18.256 |
|
|
4] (Accumulated Losses) |
(10.625) |
(13.596) |
(14.045) |
|
|
NETWORTH |
34.191 |
31.220 |
30.771 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
37.533 |
39.219 |
38.830 |
|
|
2] Unsecured Loans |
44.811 |
34.311 |
5.368 |
|
|
TOTAL BORROWING |
82.344 |
73.530 |
44.198 |
|
|
DEFERRED TAX LIABILITIES |
5.490 |
4.106 |
3.905 |
|
|
|
|
|
|
|
|
TOTAL |
122.025 |
108.856 |
78.874 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
75.100 |
40.370 |
29.853 |
|
|
Capital work-in-progress |
0.094 |
26.796 |
14.009 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
25.728
|
19.202
|
19.050
|
|
|
Sundry Debtors |
28.609
|
27.061
|
22.327
|
|
|
Cash & Bank Balances |
0.320
|
0.615
|
3.389
|
|
|
Other Current Assets |
0.000
|
0.000
|
0.000
|
|
|
Loans & Advances |
7.635
|
6.823
|
5.286
|
|
Total
Current Assets |
62.292
|
53.701 |
50.052 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditor |
10.616
|
10.527
|
13.133 |
|
|
Other Current Liabilities |
3.395
|
1.057
|
1.710
|
|
|
Provisions |
1.450
|
0.427
|
0.197
|
|
Total
Current Liabilities |
15.461
|
12.011
|
15.040
|
|
|
Net Current Assets |
46.831
|
41.690
|
35.012
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
122.025 |
108.856 |
78.874 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
132.169 |
109.756 |
100.715 |
|
|
|
Other Income |
1.260 |
1.085 |
0.750 |
|
|
|
TOTAL (A) |
133.429 |
110.841 |
101.465 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Raw Material Consumed |
83.169 |
71.791 |
69.262 |
|
|
|
Payments to Employees |
6.740 |
5.190 |
3.632 |
|
|
|
Manufacturing, Administrative and Selling Expenses |
34.187 |
26.044 |
20.890 |
|
|
|
Increase/ Decrease in Stocks |
(5.205) |
(0.837) |
0.715 |
|
|
|
TOTAL (B) |
118.891 |
102.188 |
94.499 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
14.538 |
8.653 |
6.966 |
|
|
|
|
|
|
|
|
|
Less |
INTEREST &
FINANCIAL EXPENSES (D) |
5.927 |
3.307 |
2.142 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
8.611 |
5.346 |
4.824 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
4.169 |
3.435 |
2.936 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
4.442 |
1.911 |
1.888 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
1.471 |
0.202 |
0.679 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
2.971 |
1.709 |
1.209 |
|
|
|
|
|
|
|
|
|
Less |
Sales Tax
deferral for earlier years |
-- |
(1.260) |
0.000 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
(13.596) |
(14.045) |
(15.254) |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
(10.625) |
(13.596) |
(14.045) |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
36.076 |
30.883 |
34.971 |
|
|
TOTAL EARNINGS |
36.076 |
30.883 |
34.971 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
27.586 |
30.298 |
38.460 |
|
|
|
Consumable and Stores |
0.182 |
0.117 |
0.236 |
|
|
|
Trading Goods |
0.283 |
10.262 |
7.657 |
|
|
TOTAL IMPORTS |
28.051 |
40.677 |
46.353 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
1.12 |
0.17 |
0.46 |
|
Expected Sales (2011-12): Rs.160.000 Millions
The above information has been parted by Mr. Thakur
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
2.23
|
1.54
|
1.19
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
3.36
|
1.74
|
1.87
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
3.23
|
2.03
|
2.36
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.13
|
0.06
|
0.06
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
2.86
|
2.74
|
1.93
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
4.03
|
4.47
|
3.33
|
LOCAL AGENCY FURTHER INFORMATION
SUNDRY CREDITORS
DETAILS:
|
Particulars |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
(Rs. In Millions) |
||
|
|
|
|
|
|
Sundry Creditors – Due to Micro and Small Enterprises |
0.000 |
0.000 |
0.000 |
|
Sundry Creditors – Due to others |
10.616 |
10.527
|
13.133 |
|
|
|
|
|
|
Total |
10.616 |
10.527
|
13.133 |
|
Check list by info
Agents |
Available in Report (Yes/ No) |
|
|
|
|
Year of Establishment |
Yes |
|
Locality of the Firm |
Yes |
|
Constitution of the Firm |
Yes |
|
Premises details |
Yes |
|
Type of Business |
Yes |
|
Line of Business |
Yes |
|
Promoter’s Background |
----- |
|
No. of Employees |
Yes |
|
Name of Person Contacted |
Yes |
|
Designation of Contact person |
Yes |
|
Turnover of Firm for last two years |
Yes |
|
Profitability for last three years |
No |
|
Reasons for variation <> 20% |
----- |
|
Estimation for coming financial year |
Yes |
|
Capital in the business |
No |
|
Details of sister concerns |
----- |
|
Major Suppliers |
No |
|
Major Customers |
No |
|
Payments Terms |
Yes |
|
Export/ Imports Details (If applicable) |
Yes |
|
Market Information |
----- |
|
Litigations that the firm/ Promoters Involved in |
----- |
|
Banking details |
Yes |
|
Banking Facility Details |
----- |
|
Conduct of the Banking Account |
----- |
|
Buyer visit details |
----- |
|
Financials, if provided |
No |
|
Incorporation details is applicable |
----- |
|
Last Accounts filed at ROC |
----- |
|
Major Shareholders, if available |
----- |
OPERATIONS:
The company reported gross sales of Rs.143.193 Millions and Net Sales of
Rs.138.635 Millions a net Growth of 24% over the corresponding year 2009-10 and
after making provisions for all the expenses, the profit before depreciation
and Interests is rs.14.539 Millions and achieved a net profit for the year
before Tax is Rs.4.448 Millions a jump of Over 32% over the corresponding year
2009-10 and after provision of all Taxes is Rs.2.971 Millions.
CONTINGENT LIABILITIES IN RESPECT OF:
|
Particulars |
31.03.2011 (Rs. in
millions) |
31.03.2010 (Rs. in
millions) |
|
|
|
|
|
Capital Commitments for machinery |
0.203 |
1.586 |
|
Against which advances paid |
0.203 |
1.085 |
|
Capital Commitments against building |
0.000 |
0.182 |
|
Against which advances paid |
0.000 |
0.059 |
|
Capital Commitments against Furniture |
0.000 |
0.031 |
FORM 8:
|
Corporate
identity number of the company |
U25202MH1999PTC119514 |
|
Name of the
company |
VORA PACKAGING PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
467-A, Vora Bhavan, Opposite Maheshwari Udyan, E-Mail: pankaj@vorapack.com |
|
This form is for |
Modification of
charge |
|
Charge
identification number of the modified |
10316282 |
|
Type of charge |
Book Debts Movable Property Floating Charge |
|
Particular of
charge holder |
The Saraswat Co-operative Bank Limited Matunga East Branch, Pioneer High School Building, Telang Road,
Matunga (East) (CR), Mumbai – 400019, Maharashtra, India E-Mail: njbhatia@rediffmail.com |
|
Nature of description
of the instrument creating or modifying the charge |
Agreement of
Hypothecation of Movable Property for L/C on D/A basis |
|
Date of
instrument Creating the charge |
04.11.2011 |
|
Amount secured by
the charge |
Rs.65.000
millions |
|
Brief particulars
of the principal terms and conditions and extent and operation of the charge |
Rate of Interest: Nil Terms of
Repayment: On demand Margin: 100% Extent and
Operation of the charge: Cash credit: Rs
41.500 Millions (existing) Term loan: Rs
13.500 Millions (existing) L/: Rs 10.000
Millions ( new) The immovable
property at factory land and building
situated at plot no G 27 and 27 (P) MIDC Industrial Area, Tarapur, Taluka
Palghar, Dist Thane continues to be collateral
security for CC, PC, LC, term loan and corporate loan upto a limit of Rs
44.600 Millions |
|
Short particulars
of the property charged |
Hypothecation of
all documents of title goods, goods under L/C, tangible movable property(both
present and future)belonging to the borrower and lying and being at the
borrowers place of business at factory land and building situated at plot no
G 27 and 27(P) MIDC Industrial Area, Tarapur, Taluka Palghar, Dist Thane or wherever else the same maybe. |
|
Particulars of
the present modification |
L/C limit of
Rs.10.000 Millions granted. Overall limit secured is enhanced to Rs 65.000
Millions (Cash credit: Rs.41.500 Millions, Term loan: Rs13.500 Millions, L/:
Rs 10.000 Millions) |
FIXED ASSETS
·
Land – Leasehold
·
·
Plant and Machinery
·
Moulds, Tools and Dies
·
Generator Set
·
Electric Installations
·
Computer Equipment
·
Furniture and Fixture
·
Factory Equipment
·
Office Equipment
·
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.49.15 |
|
|
1 |
Rs.78.25 |
|
Euro |
1 |
Rs.65.57 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
2 |
|
--PROFITABILIRY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
2 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
|
26 |
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.