|
Report Date : |
30.03.2012 |
IDENTIFICATION DETAILS
|
Name : |
SAMSARA SHIPPING PRIVATE LIMITED |
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|
|
|
Registered Office : |
101/102, |
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Country : |
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Financials (as on) : |
31.03.2011 |
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Date of Incorporation : |
17.04.1996 |
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Com. Reg. No.: |
11-98936 |
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Capital Investment
/ Paid-up Capital : |
Rs.32.210
millions |
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|
|
|
CIN No.: [Company
Identification No.] |
U61100mh1996ptc098936 |
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|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
Mums20445f |
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Legal Form : |
Private Limited Liability Company
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|
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Line of Business : |
Subject is engaged in providing Liner Shopping, Container Liner
Services. |
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|
No. of Employees : |
200 Approximately |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 1086964 |
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|
|
|
Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having satisfactory track. The
company has incurred some losses in the current year. However, Net Worth appears
to be satisfactory. 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.
INFORMATION PARTED BY (General Details)
|
Name : |
Mr. K K Shah |
|
Designation : |
General Manager in Finance |
|
Contact No.: |
91-9323722735 |
|
Date : |
29.03.2012 |
LOCATIONS
|
Registered Office : |
101/102, |
|
Tel. No.: |
91-22-67579500 / 66965000 |
|
Mobile No.: |
91-9323722735 (Mr. K K shah) |
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Fax No.: |
91-22-55579598 / 55579599 / 67579599 / 66775000 |
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E-Mail : |
cs@samsaragroup.com bhavini@samsaragroup.com cntrmktg@samsaragroup.com communication@samsarashipping.com |
|
Website : |
www.samsarashipping.com |
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Area : |
5000 Sq.fts |
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Location : |
Owned |
Notes:
subject has 45 Branch Office all over India.
DIRECTORS
AS ON: 30.09.2011
|
Name : |
Mr. Shyam Kundan L Kapur |
|
Designation : |
Director |
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Date of Birth/Age : |
13.03.1952 |
|
Date of Appointment : |
12.11.2001 |
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|
|
|
Name : |
Mr. Hameed Ismail Ibrahim |
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Designation : |
Director |
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Date of Birth/Age : |
11.04.1945 |
|
Date of Appointment : |
04.07.1996 |
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|
|
|
Name : |
Mr. Mukesh Mahendra Prasad oza
|
|
Designation : |
Director |
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Date of Birth/Age : |
17.03.1954 |
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Qualification : |
B.A |
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Date of Appointment : |
30.09.2006 |
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|
|
|
Name : |
Capt. Brijesh Midha |
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Designation : |
Director |
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Date of Birth/Age : |
13.01.1964 |
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Date of Appointment : |
27.06.2011 |
KEY EXECUTIVES
|
Name : |
Mr. K K Shah |
|
Designation : |
General Manager in Finance |
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|
|
|
Name : |
Mr. R. K. Sreedhar |
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Designation : |
Chief Financial Officer |
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Age : |
48 Years |
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Qualification : |
B Com, A.C.A. |
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Date of Appointment : |
01-11-2007 |
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|
Name : |
Mr. Sanjay Mehta |
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Designation : |
Marine Manager |
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Age : |
38 Years |
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Qualification : |
MMD, Mumbai |
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Date of Appointment : |
01-11-2008 |
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|
|
|
Name : |
Ms. Vinita Venkatesh |
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Designation : |
Vice President - |
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Age : |
46 Years |
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Qualification : |
B. A, Pgdm (IIM,A) |
|
Date of Appointment : |
17-01-2006 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON: 30.09.2011
|
Names of Shareholders |
No. of Shares |
|
Mr. Mukesh Oza |
11 |
|
Capt. Jitendra Misra |
11 |
|
Transmarine Holding Limited - On Repatriation |
773048 |
|
Transmarine Holdings limited – Non-Repatriation Basis, |
1264010 |
|
Intermarine Holdings Limited, |
1183980 |
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Total
|
3221060 |
AS ON: 30.09.2011
|
Equity Share
Breakup |
|
Percentage of
Holding |
|
Category |
|
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
99.98 |
|
Directors or relatives of directors |
|
0.01 |
|
Other top fifty shareholders |
|
0.01 |
|
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Total
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in providing Liner Shopping, Container Liner
Services. |
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Terms : |
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Selling : |
Cash and Cheque |
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Purchasing : |
Cash and Cheque |
GENERAL INFORMATION
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Customers : |
Exporters |
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No. of Employees : |
200 Approximately |
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Bankers : |
·
Standard Chartered Bank, M ·
HDFC Bank, Andheri (East), Mumbai, |
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Banking
Relations : |
---- |
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Auditors : |
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Name : |
S R Batliboi and Company Chartered Accountants |
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Address : |
14th Floor, the Ruby, Senapati Bapat Road, Dadar (West),
Mumbai 400028, Maharashtra, India |
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Sister Concern : |
Samara Merchant Service |
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Holding Company : |
Transmarine Holding Limited, |
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Associates/Subsidiaries : |
|
CAPITAL STRUCTURE
AS ON: 30.09.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
3500000 |
Equity Shares |
Rs.10/- each
|
Rs.35.000 millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
3221060 |
Equity Shares |
Rs.10/- each
|
Rs.32.210
millions |
|
|
|
|
|
Notes:
(Of the above 2037080 shares are held by
Transmarine Holding Limited,
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 |
32.210 |
32.211 |
32.211 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
239.531 |
240.108 |
184.567 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
271.741 |
272.319 |
216.778 |
|
|
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 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
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TOTAL |
271.741 |
272.319 |
216.778 |
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|
|
|
|
|
|
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APPLICATION OF FUNDS |
|
|
|
|
|
|
|
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FIXED ASSETS [Net Block] |
80.706 |
68.249 |
64.793 |
|
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Capital work-in-progress |
0.118 |
0.154 |
0.820 |
|
|
|
|
|
|
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INVESTMENT |
2.473 |
2.294 |
2.194 |
|
|
DEFERREX TAX ASSETS |
7.708 |
7.198 |
9.293 |
|
|
|
|
|
|
|
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
0.000
|
0.000
|
0.000
|
|
|
Sundry Debtors |
24.900
|
10.845
|
16.624
|
|
|
Cash & Bank Balances |
191.194
|
220.445
|
177.945
|
|
|
Other Current Assets |
0.000
|
0.000
|
0.000
|
|
|
Loans & Advances |
178.283
|
202.558
|
51.263
|
|
Total
Current Assets |
394.377
|
433.848
|
245.832
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
10.716
|
12.640
|
12.305
|
|
|
Current Liabilities |
183.091
|
214.177
|
77.727
|
|
|
Provisions |
19.834
|
12.607
|
16.122
|
|
Total
Current Liabilities |
213.641
|
239.424
|
106.154
|
|
|
Net Current Assets |
180.736
|
194.424
|
139.678
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
271.741 |
272.319 |
216.778 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
TOTAL |
373.114 |
330.598 |
280.301 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
372.211 |
246.926 |
247.122 |
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
0.903 |
83.672 |
33.179 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
1.105 |
28.131 |
14.357 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
(0.202) |
55.541 |
18.822 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Chartering Income |
38.790 |
NA |
33.164 |
|
|
TOTAL EARNINGS |
38.790 |
NA |
33.164 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
(0.06) |
17.24 |
5.84 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
NA
|
NA |
NA |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
0.24
|
25.30 |
11.83 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.19
|
23.03
|
10.85
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.00
|
0.31
|
0.15
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.78
|
0.37
|
0.47
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.84
|
2.93
|
2.38
|
LOCAL AGENCY FURTHER INFORMATION
SUNDRY CREDITORS
DETAILS:
|
Particulars
|
Rs.
In Millions 31.03.2011 |
Rs.
In Millions 31.03.2010 |
Rs.
In Millions 31.03.2009 |
|
Sundry Creditors |
10.716
|
12.640
|
12.305
|
FINANCIAL RESULTS
The working during the year resulted in an Income of
Rs.373.114 millions as against Rs. 368.205 millions in the previous year. The
Profit Before Tax amounted to Rs. 0.902 million as against Rs. 83.672 millions
in the previous year. After providing Rs.1.104 millions for Tax, the Profit
After Tax amounted to Rs.(0.202) million as against Rs.55.541 millions for the
previous year. The loss for the year has been adjusted against the profit after
tax brought forward from the previous year. During the year under review an
amount of Rs.0.322 million was distributed as an Interim Dividend and Dividend
distribution tax of Rs.0.052 million has been paid.
Fixed assets:
· Office Equipment
· Electrical Installation
· Furniture and Fixtures
· Computers
· Vehicles
· Office Premises
· Computer License
· Leasehold Improvements
|
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 |
No |
|
12) Profitability for last three years |
No |
|
13) Reasons for variation <> 20% |
-- |
|
14) Estimation for coming financial year |
No |
|
15) Capital in the business |
No |
|
16) Details of sister concerns |
Yes |
|
17) Major suppliers |
No |
|
18) Major customers |
No |
|
19) Payments terms |
Yes |
|
20) Export / Import details (if
applicable) |
No |
|
21) Market information |
-- |
|
22) Litigations that the firm / promoter
involved in |
-- |
|
23) Banking Details |
Yes |
|
24) Banking facility details |
-- |
|
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 |
-- |
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.51.14 |
|
|
1 |
Rs.81.41 |
|
Euro |
1 |
Rs.68.22 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--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 |
NO |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
45 |
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.