|
Report Date : |
07.03.2012 |
IDENTIFICATION DETAILS
|
Name : |
GG CABLES AND WIRES INDIA PRIVATE LIMITED |
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Registered
Office : |
No. 1, Khata No. 170/1, Survey No. 323, 324, 330/B, 331/B, 333/1 and
334/1, Marsur Gate, Kasaba Hobli, Anekal Taluk, Bangalore – 562106, Karnataka |
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Country : |
India |
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Financials (as
on) : |
31.03.2011 |
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Date of
Incorporation : |
16.06.2010 |
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Com. Reg. No.: |
054086 |
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Capital
Investment / Paid-up Capital : |
Rs. 23.480 Millions |
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CIN No.: [Company Identification
No.] |
U31300KA2010FTC054086 |
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|
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|
TAN No.: [Tax Deduction &
Collection Account No.] |
BLRG15465C |
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PAN No.: [Permanent Account No.] |
AADCG8385Q |
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Legal Form : |
Private Limited Liability Company. |
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Line of Business
: |
Manufacturer and Supplier of Cables and Wires. |
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No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca (14) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
New Company |
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|
|
Payment Behaviour : |
Slow |
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Litigation : |
Clear |
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Comments : |
Subject is a relatively new company and yet to establish itself gradually.
The company has incurred some losses in its first year of operation. However,
trade relations are reported as fair. Business is active. Payments are
reported to be slow. The company can be considered for business dealings on a safe and
secured 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 |
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Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
LOCATIONS
|
Registered Office : |
No. 1, Khata No. 170/1, Survey No. 323, 324, 330/B, 331/B, 333/1 and
334/1, Marsur Gate, Kasaba Hobli, Anekal Taluk, Bangalore – 562106, Karnataka,
India |
|
Tel. No.: |
91-80-28021100 |
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Fax No.: |
91-80-27827874 |
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E-Mail : |
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Website : |
DIRECTORS
As on 24.08.2011
|
Name : |
Mr. Vijay Rawal |
|
Designation : |
Director |
|
Address : |
SE 372 Shastri Nagar, Ghaziabad – 201002, Uttar Pradesh, India |
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Date of Birth/Age : |
10.05.1968 |
|
Date of Appointment : |
16.06.2010 |
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|
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Name : |
Mr. Dhrub Kumar Thakur |
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Designation : |
Director |
|
Address : |
D-86, Ashok Vihar Phase II Mayur lane Near Hanuman Mandir, Gurgaon –
122001, Haryana, India |
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Date of Birth/Age : |
15.02.1975 |
|
Date of Appointment : |
16.06.2010 |
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|
|
|
Name : |
Mr. Matthias Ungerboeck |
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Designation : |
Managing Director |
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Address : |
Erdbergstrasse, 140-144/1/12, 1030, Vienna, 1030 Austria |
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Date of Birth/Age : |
20.09.1979 |
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Date of Appointment : |
05.07.2010 |
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|
Name : |
Mr. Karl Froeschl |
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Designation : |
Director |
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Address : |
Liechtensteinsiedlung 5, Herrnbaumgarten, Vienna 2171, Austria |
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Date of Birth/Age : |
02.03.1954 |
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Date of Appointment : |
11.10.2010 |
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Name : |
Mr. Helmut Alfons Kolmel |
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Designation : |
Director |
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Address : |
Sailerackergasse 28/5, Vienna 1190, Austria |
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Date of Birth/Age : |
23.12.1963 |
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Date of Appointment : |
24.05.2011 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 24.08.2011
|
Names of Shareholders |
|
No. of Shares |
|
|
|
|
|
Gebauer and Griller Kabelwerke Gesellschaft MBH, Austria |
|
3245552 |
|
Gebauer and Griller International Gesellschaft MBH, Austria |
|
100 |
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Total |
|
3245652 |
List of Allottees
As on 04.10.2011
|
Names of |
|
No. of Shares |
|
|
|
|
|
Gebauer and Griller Kabelwerke Gesellschaft MBH, Austria (Body
Corporate) |
|
378546 |
|
Gebauer and Griller International Gesellschaft MBH, Austria |
|
3528 |
|
Total |
|
382074 |
As on 30.09.2011
|
Category |
Percentage |
|
Bodies corporate |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Supplier of Cables and Wires. |
PRODUCTION STATUS 31.03.2011
|
Particulars |
Unit |
Installed
Capacity |
Actual
Production |
|
|
|
|
|
|
Cables and Wires |
Pcs |
1,50,000 |
1780 |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
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|
Bankers : |
Not Available |
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Banking
Relations : |
-- |
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|
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Auditors : |
|
|
Name : |
Varma and Varma Chartered Accountant |
|
Address : |
No. 887, 11th Main, 4th Cross, Hal II Stage,
Bangalore – 560008, Karnataka, India |
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|
|
|
Holding Company : |
·
Gebauer and Griller Kabelwerke Gesellschaft MBH,
Austria |
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|
|
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Associates/Subsidiaries : |
Nil |
CAPITAL STRUCTURE
As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3,500,000 |
Equity Shares |
Rs. 10/- each |
Rs. 35.000 Millions |
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|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2,348,052 |
Equity Shares |
Rs. 10/- each |
Rs. 23.480 Millions |
|
|
(Note – The above shares are held by Gebauer and Griller
Kabelwerke GMBH and its nominees) |
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
|
31.03.2011 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
23.480 |
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|
2] Share Application Money |
|
|
8.976 |
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|
3] Reserves & Surplus |
|
|
0.000 |
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|
4] (Accumulated Losses) |
|
|
(13.456) |
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NETWORTH |
|
|
19.000 |
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|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
0.000 |
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|
2] Unsecured Loans |
|
|
0.000 |
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|
TOTAL BORROWING |
|
|
0.000 |
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|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
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|
|
|
|
|
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TOTAL |
|
|
19.000 |
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|
|
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APPLICATION OF FUNDS |
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|
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FIXED ASSETS [Net Block] |
|
|
16.056 |
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Capital work-in-progress |
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|
0.000 |
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INVESTMENT |
|
|
0.000 |
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DEFERREX TAX ASSETS |
|
|
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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|
|
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Inventories |
|
|
6.640 |
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Sundry Debtors |
|
|
0.218 |
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Cash & Bank Balances |
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|
1.640 |
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Other Current Assets |
|
|
0.000 |
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Loans & Advances |
|
|
5.698 |
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Total
Current Assets |
|
|
14.196 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
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Sundry Creditors |
|
|
11.004 |
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Other Current Liabilities |
|
|
0.184 |
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|
Provisions |
|
|
0.064 |
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Total
Current Liabilities |
|
|
11.252 |
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Net Current Assets |
|
|
2.944 |
|
|
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MISCELLANEOUS EXPENSES |
|
|
0.000 |
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|
|
|
|
|
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TOTAL |
|
|
19.000 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
|
31.03.2011 |
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SALES |
|
|
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Turnover |
|
|
0.286 |
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EXPENSES |
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TOTAL |
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13.743 |
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PROFIT BEFORE
TAX |
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(13.457) |
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Less |
TAX |
|
|
-- |
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PROFIT AFTER TAX
|
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(13.457) |
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IMPORTS |
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Raw Materials – Cables |
|
|
2.770 |
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Capital Goods |
|
|
5.551 |
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TOTAL IMPORTS |
|
|
8.321 |
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KEY RATIOS
|
PARTICULARS |
|
|
|
31.03.2011 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
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(44.48) |
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Return on Investment (ROI) (PBT/Networth) |
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(0.70) |
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Debt Equity Ratio (Total Liability/Networth) |
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|
|
0.59 |
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Current Ratio (Current Asset/Current Liability) |
|
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|
1.26 |
LOCAL AGENCY FURTHER INFORMATION
NOTE – The registered
office address of the company has been shifted from No. 2, 2nd
Floor, Sree Datri Nivas, Nagawara Circle, Outer Ring Road, Opp. Manyata Softech
Park, Bangalore – 560092, Karnataka, India to present address w.e.f. 12.07.2010
Financial Results
The company incorporated on 16.06.2010 with a
registered capital of Rs. 10.000 Millions and commenced its business from month
of October, 2010. The company has heavily invested in the capital assets during
the period. Hence, the financials of the company for the end of the financial
year is showing negative profit.
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.50.57 |
|
|
1 |
Rs.79.56 |
|
Euro |
1 |
Rs.66.49 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
2 |
|
PAID-UP CAPITAL |
1~10 |
2 |
|
OPERATING SCALE |
1~10 |
2 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
2 |
|
--PROFITABILIRY |
1~10 |
- |
|
--LIQUIDITY |
1~10 |
2 |
|
--LEVERAGE |
1~10 |
2 |
|
--RESERVES |
1~10 |
- |
|
--CREDIT LINES |
1~10 |
2 |
|
--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 |
|
14 |
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.