|
Report Date : |
24.05.2012 |
IDENTIFICATION DETAILS
|
Name : |
SKYPACK INDIA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
1216, Sector 14, Faridabad-121007, Haryana |
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Country : |
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Financials (as on)
: |
31.03.2011 |
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|
|
Date of
Incorporation : |
26.10.1987 |
|
|
|
|
Com. Reg. No.: |
05-029602 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 4.740 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U32109HR1987PTC029602 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
RTKS06043C |
|
|
|
|
PAN No.: [Permanent Account No.] |
AACCS5331F |
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|
Legal Form : |
Private Limited Liability Company |
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|
|
Line of Business
: |
Manufacturer and Exporter of Packing Material |
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|
|
|
No. of Employees
: |
240 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (48) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 1100000 |
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|
|
|
Status : |
Satisfactory |
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|
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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. 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. Profit and loss account for the current year 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
|
Name : |
Mr. Harsh Dagar |
|
Designation : |
Account Officer |
|
Contact No.: |
91-9958836944 |
|
Date : |
23.05.2012 |
LOCATIONS
|
Registered Office : |
1216, Sector 14, Faridabad-121007, |
|
Mobile No.: |
91-9873660841 (Mr. Suresh) |
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E-Mail : |
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|
Website : |
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|
Area : |
550 Sq. Yard |
|
Location : |
Owned |
|
|
|
|
Factory 1: |
Plot No.190-A, Sector -59, Mathura Road, Ballabgarh121004, Faridabad,
Haryana, India |
|
Tel. No.: |
91-129-2307188 / 4154926 / 4154927/ 4189000 |
|
Fax No.: |
91-129-2307199 |
|
Area : |
4800 Sq. Yard |
|
Location : |
Owned |
|
|
|
|
Factory 2 : |
24/2, Milestone, Mathura Road, Ballabgarh-121004, Haryana, India |
|
Area : |
4800 Sq. Yard |
|
Location : |
Owned |
DIRECTORS
AS ON 31.08.2011
|
Name : |
Mr. Naresh Kumar |
|
Designation : |
Director |
|
Address : |
House No.1216, Sector 14, Faridabad-121007, |
|
Date of Appointment : |
26.10.1987 |
|
DIN No.: |
00017324 |
|
|
|
|
Name : |
Mr. Naveen Talwar |
|
Designation : |
Director |
|
Address : |
House No.1216, Sector 14, Faridabad-121007, |
|
Date of Appointment : |
30.09.2004 |
|
DIN No.: |
00017427 |
Other Directorship:
|
S.No. |
CIN |
Name
of the Company |
Current
designation of the director |
Date
of appointment at current designation |
Original
date of appointment |
Company
Status |
Defaulting
status |
|
1 |
U32109HR1987PTC029602 |
SKYPACK
INDIA PRIVATE LIMITED |
Director |
7/9/1999 |
7/9/1999 |
Active |
NO |
|
2 |
U22219DL2003PTC118804 |
SKYROTO
PRINT PRIVATE LIMITED |
Director |
2/5/2003 |
2/5/2003 |
Active |
NO |
|
3 |
U74899HR2005PTC034328 |
SKYFLEX
PACKS PRIVATE LIMITED |
Director |
30/09/2005 |
30/09/2005 |
Active |
NO |
|
Name : |
Mr. Shashi Talwar |
|
Designation : |
Director |
|
Address : |
House No.1216, Sector 14, Faridabad-121007, |
|
Date of Appointment : |
26.10.1987 |
|
DIN No.: |
00017535 |
Other Directorship:
|
S.No. |
CIN |
Name
of the Company |
Current
designation of the director |
Date
of appointment at current designation |
Original
date of appointment |
Company
Status |
Defaulting
status |
|
1 |
U32109HR1987PTC029602 |
SKYPACK
INDIA PRIVATE LIMITED |
Director |
26/10/1987 |
26/10/1987 |
Active |
NO |
|
2 |
U22219DL2003PTC118804 |
SKYROTO
PRINT PRIVATE LIMITED |
Director |
2/5/2003 |
2/5/2003 |
Active |
NO |
|
3 |
U74899HR2005PTC034328 |
SKYFLEX
PACKS PRIVATE LIMITED |
Director |
30/09/2005 |
30/09/2005 |
Active |
NO |
KEY EXECUTIVES
|
Name : |
Mr. Harsh Dagar |
|
Designation : |
Account Officer |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 31.08.2011
|
Names of Shareholders |
No. of Shares |
|
Naresh Kumar |
15842 |
|
Shashi Talwar |
6080 |
|
Naveen Talwar |
3478 |
AS ON 31.08.2011
|
Equity Shares
Break Up |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Packing Material |
|
|
|
|
Exports : |
|
|
Products : |
Packing Material |
|
Countries : |
·
USA ·
UK ·
Nepal |
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|
|
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Imports : |
|
|
Products : |
Raw Material |
|
Countries : |
·
UAE ·
France ·
Singapore ·
Thailand ·
China ·
Malaysia |
|
|
|
|
Terms : |
|
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Selling : |
Cash and Credit |
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Purchasing : |
Cash and Credit |
GENERAL INFORMATION
|
Suppliers : |
·
Reliance Industries Limited |
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|
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Customers : |
OEM’s, Dealer and Trader ·
Hindustan Syringes and Medical Devices Limited ·
Nestle ·
Mother Dairy ·
Safal ·
Dhara ·
Sheela Foams ·
Tilde ·
Hindustan Latex Limited ·
Reliance Retail ·
Rasna ·
Coke ·
KFC |
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|
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No. of Employees : |
240 (Approximately) |
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Bankers : |
· Citi Bank N.A. ·
Axis Bank Limited, Plot No.40, SCO, Sector 7, Ballabhgarh-121006, ·
Canara Bank, 8A, Nehru Ground, NIT, Faridabad-121001, ·
Standard Chartered Bank, No.10, ·
SIDBI ·
ABN Amro Bank, Gurgaon Branch ·
ICICI Bank, |
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Facilities : |
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Banking
Relations : |
-- |
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|
|
|
Auditors : |
|
|
Name : |
Sumeet Khanna Chartered Accountant |
|
Address : |
606, |
|
Tel. No.: |
91-11-41608766 / 41608767 / 41608768 |
|
Fax No.: |
91-11-41608765 |
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E-Mail : |
|
|
PAN No.: |
AIHPK2572J |
|
|
|
|
Sister Concern : |
·
Sky Flex Packs
Private Limited Address : 1216, Sector 14, Faridabad-121007, Haryana, India Line of Business : Manufacturer and Exporter of Packing Material ·
Skyroto
Print Private Limited Address : 1216, Sector 14, Faridabad-121007, Haryana, India Line of Business : Manufacturer and Exporter of Packing Material |
CAPITAL STRUCTURE
AS ON 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
50000 |
Equity Shares |
Rs.100/- each |
Rs. 5.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
47400 |
Equity Shares |
Rs.100/-
each |
Rs. 4.740
Millions |
|
|
|
|
|
Note:
Of these 1080 equity shares have been allotted
as fully paid up for consideration other than cash.
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 |
4.740 |
4.740 |
4.740 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
285.250 |
219.358 |
143.969 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
289.990 |
224.098 |
148.709 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
206.398 |
87.547 |
90.714 |
|
|
2] Unsecured Loans |
21.053 |
0.300 |
0.900 |
|
|
TOTAL BORROWING |
227.451 |
87.847 |
91.614 |
|
|
DEFERRED TAX LIABILITIES |
35.693 |
29.641 |
19.311 |
|
|
|
|
|
|
|
|
TOTAL |
553.134 |
341.586 |
259.634 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
363.168 |
319.591 |
209.841 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
3.330 |
3.330 |
3.330 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
76.091
|
50.314
|
43.552
|
|
|
Sundry Debtors |
105.152
|
65.652
|
46.775
|
|
|
Cash & Bank Balances |
25.756
|
18.051
|
3.570
|
|
|
Other Current Assets |
0.000
|
0.000
|
0.000
|
|
|
Loans & Advances |
44.098
|
38.668
|
31.952
|
|
Total
Current Assets |
251.097
|
172.685 |
125.849 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
28.213
|
106.798
|
56.425 |
|
|
Other Current Liabilities |
6.643
|
13.837
|
5.746 |
|
|
Provisions |
29.605
|
33.385
|
17.215 |
|
Total
Current Liabilities |
64.461
|
154.020 |
79.386 |
|
|
Net Current Assets |
186.636
|
18.665
|
46.463 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
553.134 |
341.586 |
259.634 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
|
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
|
NA |
|
|
|
Other Income |
|
|
NA |
|
|
|
TOTAL |
|
|
NA |
|
|
|
|
|
|
|
|
|
DEPRECIATION/
AMORTISATION |
|
|
9.862 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
|
|
55.184 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
|
|
14.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
|
|
41.184 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
|
|
868.86 |
|
|
Particulars |
|
31.03.2012 |
31.03.2011 |
|
Sales Turnover (Approximately) |
|
1094.255 |
964.889 |
|
|
|
|
|
Expected Sales (2012-2013) : Rs. 1500.000 Millions
The above information has been parted by Mr. Harsh.
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
Return on Total Assets (PBT/Total Assets} |
(%) |
NA
|
NA
|
16.44 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
NA
|
NA
|
0.37 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.13
|
1.08
|
1.15 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
3.90
|
1.12
|
1.59 |
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. Constructions of the firm |
Yes |
|
4. Premises details |
Yes |
|
5. Type of Business |
Yes |
|
6. Line of Business |
Yes |
|
7. Promoter’s background |
Yes |
|
8. No. of Employees |
Yes |
|
9. Name of person contacted |
Yes |
|
10. Designation of contact person |
Yes |
|
11. Turnover of firm for last one years |
Yes |
|
12. Profitability for last one years |
Yes |
|
13. Reasons for variation <> 20% |
------- |
|
14. Estimation for coming financial year |
Yes |
|
15. Capital in the business |
Yes |
|
16. Details of sister concerns |
Yes |
|
17. Major suppliers |
Yes |
|
18. Major customers |
Yes |
|
19. Payments terms |
Yes |
|
20. Export / Import details |
Yes |
|
21. Market information |
------ |
|
22. Litigations that the firm / promoter involved |
------ |
|
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 |
FORM 8
|
Corporate
identity number of the company |
U32109HR1987PTC029602 |
|
Name of the
company |
SKYPACK INDIA
PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
1216, Sector 14, Faridabad-121007, |
|
This form is for |
Creation of
charge |
|
Type of charge |
Book debts Others |
|
Particular of
charge holder |
· Citi Bank N.A. DLF Square, M Block, Jacaranda Marg, DLF City Phase II, Gurgaon – 122002, Haryana, India |
|
Nature of
instrument creating charge |
Secured Term Loan
Agreement where the security is by way of hypothecation of stocks, book debts
and plant & machinery. |
|
Date of
instrument Creating the charge |
02.12.2011 |
|
Amount secured by
the charge |
Rs. 85.000
Millions |
|
Brief of the principal
terms an conditions and extent and operation of the charge |
Rate of interest 13% linked to
Base Rate. Terms of repayment 1st of every
month calculated from the date of disbursement for 48 months. Margin As per sanction
letter. Extent and operation of the charge Second charge on
current assets, Sole charge on assets funded under Citibank Term loan and
First pari passu charge with Axis Bank on all the unencumbered present and
future fixed assets of the company (other than those financed by other term
lenders) in favour of Citibank N.A for the repayment of all monies in respect
of the credit facility, including outstanding balance and also all interest,
costs, charges and expenses. |
|
Short particulars
of the property charged (Including location of the property) |
Hypothecation of
stocks, book debts and plant and machinery. |
TRADE REFERENCE
· Hindustan Syringes and Medical Devices Limited
· Reliance Industries Limited
FIXED ASSETS
·
Air Conditioner
·
Building
·
Computers
·
Cycle
·
Electricity Installation
·
Plant and Machinery
·
Land
·
Refrigerator
·
Office Equipment
·
Furniture and Fixture
·
Vehicle
·
Water Cooler
AS PER WEB DETAILS
PROFILE
Subject and its two sister concerns Skyflex Packs Private Limited and Skyroto Print Private Limited are in the business of providing flexible packaging material to Pharmaceutical and food industry. An exporter of films to European countries, subject has expertise to manufacture films and tubes for a variety of applications. The infrastructure and capability is to provide a hygienic processing environment for manufacturing packaging for steralizable surgical instruments, Pharma tubes and food grade products.
Subject was started by Mr. Naresh Kumar, who has been in the
plastic packaging business since 1973. Plastic was a new concept in
Soon, he diversified into the field of flexible packaging. Today, subject is the sole supplier of packaging material to Hindustan Syringes and Medical Devices Limited (HMD) and is also supplying to companies like Nestle, Reliance Retail etc. Subject can boast of a team which keeps quality and precision as its ultimate goal.
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. 55.93 |
|
|
1 |
Rs. 88.14 |
|
Euro |
1 |
Rs. 70.87 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Report Prepared
by : |
DPT |
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 |
7 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
|
48 |
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.