|
Report Date : |
10.05.2012 |
IDENTIFICATION DETAILS
|
Name : |
SHOGINI TECHNOARTS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Gate No. 788, Khed Shivapur, Taluka Haveli, District Pune – 412 205, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
23.08.1982 |
|
|
|
|
Com. Reg. No.: |
11-28059 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.99.020 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U32104PN1982PTC028059 |
|
|
|
|
Legal Form : |
Private Limited Liability Company
|
|
|
|
|
Line of Business
: |
Manufacturer, Exporter and Importer of Professional Grade Printed
Circuit Boards. |
|
|
|
|
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 682472 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Slow but
Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established
company having satisfactory track. There appear some losses incurred by the
company in the current year. However, the Networth appears to be
satisfactory. Trade relations are reported as fair. Business is active.
Payments are reported to be slow but correct. The company can
be considered normal for business dealings at usual trade terms and
conditions. Latest profit and
loss account of the company is not available. |
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 |
INFORMATION PARTED BY (GENERAL DETAILS)
|
Name : |
Mr. Ketkar |
|
Designation : |
Accountant |
|
Contact No.: |
91-20-66471800 |
LOCATIONS
|
Registered Office/ Factory : |
Gate No. 788, Khed Shivapur, Taluka Haveli, District Pune – 412 205, |
|
Tel. No.: |
91-20-66471800 |
|
Fax No.: |
91-20-66471820 |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
15000 sq mtrs. |
|
Location : |
Owned |
|
|
|
|
Cad
centre: |
209/1,
Shivganga, |
|
Tel. No.: |
91-20-22534281/22533015 |
|
|
|
|
Head Office : |
S. No. 5 (P), Hissa No. 2/4/2, Shogini Building, Katrajdehu Road By Pass
Near Sinhagad Road, Fly Over Movie, Ambegaon Budruk, Taluka Haveli, Pune -
411 046, Maharashtra, Maharashtra, India |
|
Tel. No.: |
91-20-66471700 (100 Lines) |
|
Fax No.: |
91-20-66471714 |
|
E-Mail : |
|
|
|
|
|
Branch Office : |
Located at:
·
Mumbai
·
·
·
|
DIRECTORS
AS ON 15.09.2011
|
Name : |
Mr. Vijay Mukund Athavale |
|
Designation : |
Chairman and Managing Director |
|
Address : |
Flat No. 788, Khed Shivapur, Taluka Haveli, District Pune, |
|
Date of Birth/Age : |
01.01.1946 |
|
Qualification : |
Master In Computer |
|
01.01.2009 |
23.02.1982 |
|
|
|
|
Name : |
Mr. Vinayak Vishnu Athavale |
|
Designation : |
Director – Technical and Marketing |
|
Address : |
677, |
|
Date of Birth: |
21.08.1951 |
|
Qualification: |
Engineer |
|
Date of Appointment : |
01.04.2009 |
|
|
|
|
Name : |
Mr. Abhijit Shrinivas Tamhankar |
|
Designation : |
Director – Technical and EDP |
|
Address : |
999-B, Mayuresh Society, Phathak Baug, |
|
Date of Birth: |
23.06.1969 |
|
Qualification: |
MBA, Engineer |
|
Date of Appointment : |
01.01.1996 |
|
|
|
|
Name : |
Mrs. Geeta A. Tamhankar |
|
Designation : |
Director- Technical and Designing |
|
Address : |
999-B, Mayuresh Society, Phathak Baug, |
|
Date of Birth: |
22.01.1972 |
|
Qualification: |
BE in Electronics |
|
Date of Appointment : |
01.07.1998 |
|
|
|
|
Name : |
Mr. Rhushikesh Ravikiran Modak |
|
Designation : |
Director – Technical and Production |
|
Address : |
19, Vivek Society, |
|
Date of Birth: |
12.05.1974 |
|
Qualification: |
B.Com |
|
Date of Appointment : |
28.03.2001 |
|
|
|
|
Name : |
Mrs. Seema R. Modak |
|
Designation : |
Director –Commercial |
|
Address : |
19, Vivek Society, Padmavati, Pune – 411009, |
|
Date of Birth: |
21.08.1977 |
|
Qualification : |
B.Com |
|
Date of Appointment : |
01.01.2002 |
KEY EXECUTIVES
|
Name : |
Mr. Anil Manohar Godbole |
|
Designation : |
Company Secretary |
|
Address : |
25, Dattaguru Apartments, 3rd Floor, Dhankwadi, Pune-411043, |
|
Date of Appointment : |
01.08.2004 |
|
|
|
|
Name : |
Mr. Ketkar |
|
Designation : |
Accountant |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 15.09.2011
|
Names of Shareholders (Equity Shares) |
No. of Shares |
|
Vijay
Athawale and Mrs. Vibhavari Athavle |
674598 |
|
Vinayak
Athavale and Mrs. Deepa Athavale |
1400 |
|
Vibhavari
Athavale and Mr. Vijay Athavale |
183380 |
|
Gauri Behere and Mr. Vinayak Behere |
280 |
|
Vithal
Ranade and Mrs. Madhuri Ranade |
140 |
|
Prabha
Bapat and Mr. Anand Bapat |
280 |
|
Shamkant
Sathe and Mrs. Swati Sathe |
560 |
|
Swati
Sathe and Mr. Shamkant Sathe |
140 |
|
Achyut
G Karandikar |
1400 |
|
Rajana
R Sonar |
280 |
|
Sampada
Parsekar |
280 |
|
Seema Modak and
Mr. Rishikesh Modak |
47742 |
|
Deepa Athavale
and Mr. Vinayak Athavale |
980 |
|
Geeta Tamhankar
and Mr. Abhijit Tamhankar |
1400 |
|
Rishikesh Modak
and Mrs. Seema Modak |
15400 |
|
Geeta Tamhankar
and Mr. Abhijit Tamhankar |
61740 |
|
Total |
990000 |
AS ON 15.09.2011
|
Shareholder's Name |
No. of
Shares |
|
Mrs. Modak Rhushikesh Seema J/w Mr. Modak Ravikiran
Rhushikesh |
169 |
|
Mr. Dhavale Eknath Dilip J/w Mrs. Dhavale Dilip Jyostna |
01 |
|
Mr. Kandlikar Satish Rohan J/w Mrs. Kandlikar Satish Sumedha J/w Mr. Kandlikar Bhimrao
Satish |
01 |
|
Ms. Adkar Milind Madhuri |
01 |
|
Mrs. Gokhale Achyut Kamal |
01 |
|
Mr. Khar Laxminnarayan |
01 |
|
Mr. Modak Keshav Avinash |
01 |
|
Mr. Athavale Dattatray Gopal |
01 |
|
Mr. Barve Anand Madhukar |
01 |
|
Mrs. Kulkarni Vishwas Vrushali J/w Mr. Kulkarni Vishwas |
01 |
|
Mr. Mankar Shankarrao Shyam |
01 |
|
Mr. Mankar Shankarrao Ulhas |
01 |
|
Mr. Mankar Damodar Vinayak |
01 |
|
Mr. Mankar Vidyadhar Amit |
01 |
|
Mr. Mankar Ulhas Ashish |
01 |
|
Mr. Mankar Vasantrao Anant |
01 |
|
Mr. Jadhav Jayant Kishor J/w Mrs. Jadhav Jayant Sharada |
01 |
|
Mr. Deshpande Balwant Ashok J/w Mrs. Deshpande Ashok
Ashwini |
01 |
|
Mr. Yarnalkar Vishvnath Ghanashyam J/w Mrs. Yarnalkar
Ghanashyam Anjali J/w Mr. Yarnalkar Ghanashyam Dhanajay |
01 |
|
Mr. Salvekar Dattatraya Sunil J/w Mr. Salvekar Sunil Parag |
01 |
|
Mrs. Ghatpande Prabhakar Vasanti J/w Ms. Ghatpande
Prabhakar Sonali J/w Mr. Ghatpande Prabhakar Yogendra |
01 |
|
Mrs. Kashid Maruti Jayashree |
01 |
|
Mr. Agarkar Mukund Mayur |
01 |
|
Mrs. Abhyankar Shripad Meghna |
01 |
|
Venus Insulators Private Limited, Pune |
05 |
|
Mr. Chandorkar Madhav Mohan |
02 |
|
Mrs. Walimbe V. Vanadana
J/w Smt. Diwakar Waman Jivaya |
01 |
|
Total |
200 |
AS ON 15.09.2011
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Directors
or relatives of directors |
|
99.64 |
|
Other
top fifty shareholders |
|
0.36 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer, Exporter and Importer of Professional Grade Printed
Circuit Boards. |
||||
|
|
|
||||
|
Products : |
|
GENERAL INFORMATION
|
Bankers : |
|
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
Auditors : |
|
|
Name 1 : |
HMA and Associates Chartered Accountants |
|
Address : |
202, Gulmohar Apartments, 773/7A, Shivajinagar, Prabhat Road Lane No 10,
Pune – 411005, Maharashtra, India |
CAPITAL STRUCTURE
As on 31.03.2009
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
495000 |
Equity Shares |
Rs. 100/-each |
Rs. 49.500 millions |
|
5000 |
15% Redeemable Cumulative Preference Shares |
Rs. 100/- each |
Rs.0.500 million |
|
|
Total |
|
Rs.50.000
millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
470000 |
Equity Shares |
Rs.100/-
each |
Rs.47.000 millions |
|
200 |
15% Redeemable Cumulative Preference Shares |
Rs.100/-
each |
Rs.0.020
million |
|
|
Total |
|
Rs.47.020 millions |
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 |
99.020 |
47.020 |
47.020 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
71.598 |
109.687 |
86.738 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
170.618 |
156.707 |
133.758 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
339.515 |
174.566 |
257.699 |
|
|
2] Unsecured Loans |
196.929 |
179.102 |
109.069 |
|
|
TOTAL BORROWING |
536.444 |
353.668 |
366.768 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
707.062 |
510.375 |
500.526 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
218.890 |
221.188 |
235.824 |
|
|
Capital work-in-progress |
4.189 |
2.520 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
1.213 |
1.558 |
1.675 |
|
|
DEFERREX TAX ASSETS |
8.175 |
3.588 |
14.840 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
183.591
|
133.066
|
112.900
|
|
|
Sundry Debtors |
232.901
|
191.114
|
165.541
|
|
|
Cash & Bank Balances |
207.240
|
75.162
|
50.084
|
|
|
Other Current Assets |
1.476
|
4.643
|
11.066
|
|
|
Loans & Advances |
32.963
|
20.902
|
12.564
|
|
Total
Current Assets |
658.171
|
424.887
|
352.155
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
120.633 |
86.568 |
85.817 |
|
|
Other Current Liabilities |
6.386
|
5.695
|
4.603
|
|
|
Provisions |
56.557
|
51.103
|
13.848
|
|
Total
Current Liabilities |
183.576
|
143.366
|
104.268
|
|
|
Net Current Assets |
474.595
|
281.521
|
247.887
|
|
|
|
|
|
. |
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.300 |
|
|
|
|
|
|
|
|
TOTAL |
707.062 |
510.375 |
500.526 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
NA
|
NA
|
NA
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
NA
|
NA
|
NA
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
NA
|
NA
|
NA
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
4.22
|
3.18
|
3.52
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
3.59
|
2.96
|
3.38
|
LOCAL AGENCY FURTHER INFORMATION
|
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 |
No |
|
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 |
No |
|
20) Export / Import details (if
applicable) |
-- |
|
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 |
Bankers Charges
Report as per Registry
|
Corporate
identity number of the company |
U32104PN1982PTC028059 |
|
Name of the
company |
SHOGINI
TECHNOARTS PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
Gat No.788,
Khed Shivapur, Tal Haveli, District Pune-412205, |
|
This form is for |
Modification of
Charge |
|
Charge
identification number of the modified |
90082793 |
|
Type of charge |
|
|
Particular of
charge holder |
Saraswat Co-operative Bank Limited |
|
Nature of
instrument creating charge |
Letter Of Saraswat
Co. Op. Bank Limited. Confirming Full Payment Of Stand By Line Of Credit Of
Rs. 0.190 Million |
|
Date of
instrument Creating the charge |
04.01.2012 |
|
Amount secured by
the charge |
Rs. 440.000
Millions |
|
Brief of the principal
terms an conditions and extent and operation of the charge |
Rate of Interest PLR LESS 2.50%
P.A. I.E. 11% P.A. No Change In The
Earlier Modification. Terms of
Repayment Cash Credit -
Repayable On Demand Letter Of Credit
- 180 Days Corporate Loan:
Repayment Within 60 Months, 59 Monthly Installment Of Rs.0. 833 Millions And
Last Of Rs. 0.853 Millions. - Interest To Be
Paid Seperately. No Change In The
Earlier Modification. Margin For Cash Credit:-
Stocks 25%, Debtors Within 90 Days 25%, Debtors Above 90 Days Till 120 Days
50%. For Letter Of
Credit One Time - 5% In Fdr. Corporate Loan:-
Margin Of 30% No Change In The
Earlier Modification. Extent and
Operations of the charge First And
Exclusive Charge Others The Loan
Amount Of Rs. 440.000 Millions
Comprises Of Cc Rs. 2500/- Lc Rs. 140.000 Millions And, Corporate Loan Rs.
50.000 Millions Out Of That Fresh
Corporate Loan Of Rs. 50.000 Millions
Is Secured Only By Way of Mortgage of Immovable Property And Not By
Hypothecation of Any Movasble Property. No Change In The
Earlier Modification. |
|
Short particulars
of the property charged |
No Change In The
Earlier Modification. The Security Continues As Below:- Loan Amount Of Rs.
40,9.000 Millions Is Secured By Way Of Hypothecation Of Following Movable
Property, As A Main Security And Mortgage By Deposit Of Title Deeds Of
Immovable Property Mentioned In The Annxeure Attached Herewith As Collateral
Security. Hypothecation Of Stock, Tangible Movable Property Both Present and
Future Lying At 5(P), 2/4/2, Shogini Bldg, Ambegaon Bk, Pune Hypothecation Of
Book Debts, Outstandings, Monies Receivable, Cliams and Bills Which Are Now
Due Or Become Due. Loan Amount Of Rs. 5,00,00,000/- Being Corporate Loan Is
Secured By Way Of Mortgage By Deposit Of Title Deeds Of Immovable Property
Mentioned In The Annxeure Attached Herewith As Main Security. |
|
Date of
instrument modifying the charge |
18/01/2011 |
|
Particulars of
the present modification |
Loan Amount
Reduced From Rs. 459.000 Millions To
Rs. 440.000 Millions, I.E. By Rs. 19.000 Millions The Stand By Line
Of Credit Facility Of Rs 190/- Has Been Fully Repaid By The Company. Now The Present
Loan Of Rs. 440.000 Millions Comprises Of:- 1) Cc Rs. 250.000
Millions 2) Lc Rs. 140.000 Millions 3) Corporate
Loan Rs. 50.000 Millions
___________ Total:- Rs.
4,40.000 Millions |
Fixed Assets
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.53.46 |
|
|
1 |
Rs.86.27 |
|
Euro |
1 |
Rs.69.40 |
INFORMATION DETAILS
|
Report Prepared
by : |
SDA |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--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 |
NO |
|
--AFFILIATION |
YES/NO |
No |
|
--LISTED |
YES/NO |
No |
|
--OTHER MERIT FACTORS |
YES/NO |
Yes |
|
TOTAL |
|
30 |
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.