MIRA
INFORM REPORT
|
Report Date : |
20.11.2012 |
IDENTIFICATION DETAILS
|
Name : |
RICE INDIA EXPORTS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
SF-22, 2nd Floor, Pearls Omaxe, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on)
: |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
25.03.1998 |
|
|
|
|
Com. Reg. No.: |
55-092925 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 20.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U51211DL1998PTC092925 |
|
|
|
|
Legal Form : |
Private Limited Liability Company. |
|
|
|
|
Line of Business
: |
Exporter of Basmati Rice |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (29) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 240000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow |
|
|
|
|
Litigation : |
Clear |
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|
Comments : |
Subject is an established company having moderate track. Profitability
of the company appears to be low. 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
cautions. |
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 – June 30, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
India is developing into an open-market economy, yet traces
of its past autarkic policies remain. Economic liberalization, including industrial
deregulation, privatization of state-owned enterprises, and reduced controls on
foreign trade and investment, began in the early 1990s and has served to
accelerate the country's growth, which has averaged more than 7% per year since
1997. India's diverse economy encompasses traditional village farming, modern
agriculture, handicrafts, a wide range of modern industries, and a multitude of
services. Slightly more than half of the work force is in agriculture, but
services are the major source of economic growth, accounting for more than half
of India's output, with only one-third of its labor force. India has
capitalized on its large educated English-speaking population to become a major
exporter of information technology services and software workers. In 2010, the
Indian economy rebounded robustly from the global financial crisis - in large
part because of strong domestic demand - and growth exceeded 8% year-on-year in
real terms. However, India's economic growth in 2011 slowed because of persistently
high inflation and interest rates and little progress on economic reforms. High
international crude prices have exacerbated the government's fuel subsidy
expenditures contributing to a higher fiscal deficit, and a worsening current
account deficit. Little economic reform took place in 2011 largely due to
corruption scandals that have slowed legislative work. India's medium-term
growth outlook is positive due to a young population and corresponding low
dependency ratio, healthy savings and investment rates, and increasing
integration into the global economy. India has many long-term challenges that
it has not yet fully addressed, including widespread poverty, inadequate
physical and social infrastructure, limited non-agricultural employment
opportunities, scarce access to quality basic and higher education, and
accommodating rural-to-urban migration.
|
Source
: CIA |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
LOCATIONS
|
Registered Office : |
SF-22, 2nd Floor, Pearls Omaxe, Netaji Subhash Place, Ring
Road, Pitampura, New Delhi-110034, India |
|
Tel. No.: |
91-11-23984243 / 23918282 |
|
Fax No.: |
Not Available |
|
E-Mail : |
DIRECTORS
AS ON 03.09.2012
|
Name : |
Mr. Rajesh Aggarwal |
|
Designation : |
Director |
|
Address : |
44/42, Punjabi Bagh (West), New Delhi-110026, India |
|
Date of Birth/Age : |
19.10.1973 |
|
Date of Appointment : |
25.03.1998 |
|
DIN No.: |
00074026 |
Other Directorship:
|
S.No. |
CIN/LLPIN |
Name
of the Company/ LLP |
Current
designation of the Director/ Designated Partner |
Date
of appointment at current designation |
Original
date of appointment |
Company/
LLP Status |
Defaulting
status |
|
1 |
U51211DL1998PTC092925 |
RICE
INDIA EXPORTS PRIVATE LIMITED |
Director |
25/03/1998 |
25/03/1998 |
Active |
NO |
|
2 |
U72300DL2007PTC165295 |
S.
R. TECHNOSOFT PRIVATE LIMITED |
Director |
27/06/2007 |
27/06/2007 |
Active |
NO |
|
Name : |
Mr. Rajeev Aggarwal |
|
Designation : |
Director |
|
Address : |
44/42, Punjabi Bagh (West), New Delhi-110026, India |
|
Date of Birth/Age : |
09.12.1976 |
|
Date of Appointment : |
25.03.1998 |
|
DIN No.: |
00053733 |
Other Directorship:
|
S.No. |
CIN/LLPIN |
Name
of the Company/ LLP |
Current
designation of the Director/ Designated Partner |
Date
of appointment at current designation |
Original
date of appointment |
Date
of cessation |
Company/
LLP Status |
Defaulting
status |
|
1 |
U74899DL1988PTC033344 |
SAROJ
OVERSEAS PRIVATE LIMITED |
Director |
27/09/1988 |
27/09/1988 |
- |
Active |
NO |
|
2 |
U51211DL1998PTC092925 |
RICE
INDIA EXPORTS PRIVATE LIMITED |
Director |
25/03/1998 |
25/03/1998 |
- |
Active |
NO |
|
3 |
U72300DL2007PTC165293 |
ARYAN
TECHNOSOFT PRIVATE LIMITED |
Director |
27/06/2007 |
27/06/2007 |
28/01/2010 |
Active |
NO |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 03.09.2012
|
Names of Shareholders |
No. of Shares |
|
Saroj Gupta |
100 |
|
Narendra Prakash (HUF) |
100 |
|
Rajeev Aggarwal |
999700 |
|
Sonia Aggarwal |
100 |
|
Narender Prakash |
100 |
|
Rajesh Aggarwal |
999800 |
|
Nidhi Aggarwal |
100 |
|
TOTAL
|
2000000 |
AS ON 03.09.2012
|
Equity Shares
Break Up |
Percentage of
Holding |
|
Directors or relatives of Directors |
100.00 |
|
TOTAL |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Exporter of Basmati Rice |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
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Bankers : |
·
Kotak Mahindra Bank Limited, 36-38A, Nariman
Bhavan, 227, D, Nariman Point, Mumbai-400021, Maharashtra, India ·
State Bank of Mysore, 4101-4157, Naya Bazar,
Delhi-110006, India ·
HDFC Bank Limited ·
IDBI Bank Limited |
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Facilities : |
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Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Ravinder Jhatta and Associates Chartered Accountant |
|
Address : |
B-24, Sagar Apartments, 6, Tilak Marg, New Delhi-110001, India |
|
PAN No.: |
AAAPK2738B |
CAPITAL STRUCTURE
AS ON 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2000000 |
Equity Shares |
Rs.10/- each |
Rs. 20.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2000000 |
Equity Shares |
Rs.10/- each |
Rs. 20.000
Millions |
|
|
|
|
|
NOTES
The Company has only
one class of shares referred to as equity shares having a par value of Rs 10/-.
Each holder of equity shares is entitled to one vote per share.
The reconciliation of the number of shares outstanding of the share
capital is set out as follows:-
|
Particulars |
As at March 31,
2012 |
|
Number of Shares |
|
|
Number of Shares at the beginning of the year |
2,000,000 |
|
Add: Shares Issued during the year |
- |
|
Less: Shares bought back during the year |
- |
|
Number of Shares
at the end of the year |
2,000,000 |
Disclosure pursuant to Note no. 6(A)(f) of Part I of Schedule VI to the
Companies Act, 1956
-Nil- number of Equity Shares are held by -NIL-, the holding company
Disclosure pursuant to Note no. 6(A)(g) of Part I of Schedule VI to the
Companies Act, 1956 (if more than 5%)
|
Name of
Shareholders |
As At 31.03.2012 |
|
|
No. of Shares |
% of Holding |
|
|
Rajesh Aggarwal |
999,800 |
49.99 |
|
Rajeev Aggarwal |
999,700 |
49.99 |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
20.000 |
20.000 |
20.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
40.835 |
40.147 |
41.514 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
60.835 |
60.147 |
61.514 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
105.989 |
93.563 |
13.000 |
|
|
2] Unsecured Loans |
6.219 |
8.106 |
22.401 |
|
|
TOTAL BORROWING |
112.208 |
101.669 |
35.401 |
|
|
DEFERRED TAX LIABILITIES |
1.372 |
1.492 |
1.639 |
|
|
|
|
|
|
|
|
TOTAL |
174.415 |
163.308 |
98.554 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
28.710 |
32.061 |
35.297 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
49.938
|
56.170 |
41.858 |
|
|
Sundry Debtors |
15.205
|
31.642 |
1.816 |
|
|
Cash & Bank Balances |
0.579
|
0.478 |
1.173 |
|
|
Other Current Assets |
0.000
|
0.000 |
25.836 |
|
|
Loans & Advances |
88.637
|
68.248 |
0.713 |
|
Total
Current Assets |
154.359
|
156.538 |
71.396 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
1.673
|
24.320 |
7.537 |
|
|
Other Current Liabilities |
6.605
|
0.262 |
0.000 |
|
|
Provisions |
0.376
|
0.709 |
0.602 |
|
Total
Current Liabilities |
8.654
|
25.291 |
8.139 |
|
|
Net Current Assets |
145.705
|
131.247 |
63.257 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
174.415 |
163.308 |
98.554 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Sales |
571.239 |
380.658 |
625.129 |
|
|
|
Other Operating Income |
1.524 |
8.705 |
0.000 |
|
|
|
Other Income |
4.759 |
5.422 |
5.630 |
|
|
|
TOTAL |
577.522 |
394.785 |
630.759 |
|
|
|
|
|
|
|
|
Less |
|
|
|
|
|
|
|
|
Stock Consumed |
573.856 |
390.752 |
593.955 |
|
|
|
Processing Expenses |
|
|
0.804 |
|
|
|
Personnel Expenses |
|
|
0.610 |
|
|
|
Administrative Expenses |
|
|
9.695 |
|
|
|
Selling and Distribution Expenses |
|
|
21.364 |
|
|
|
TOTAL |
573.856 |
390.752 |
626.428 |
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
3.666 |
4.033 |
4.331 |
|
|
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
2.828 |
3.339 |
3.925 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX |
0.838 |
0.694 |
0.406 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
0.256 |
0.282 |
0.102 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX |
0.582 |
0.412 |
0.304 |
|
|
|
|
|
|
|
|
|
|
EXPORT VALUE |
NA |
197.380 |
222.251 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
2.90 |
2.06 |
0.15 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
0.10
|
0.10 |
0.05 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
0.15
|
0.18 |
0.06 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.46
|
0.37 |
0.38 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.01
|
0.01 |
0.01 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
2.01
|
2.14 |
0.73 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
17.84
|
6.19 |
8.77 |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
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 |
No |
|
10] |
Designation of contact
person |
No |
|
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) |
Yes |
|
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 |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of
Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
No |
OPERATIONS
The performance of
the company in the Thirteen year of its working has not been quiet
satisfactory. The total sales for the current year amounted to Rs.571.238
Millions as compared to Rs. 380.657 Millions in the previous year.
FORM 8
|
Corporate
identity number of the company |
U51211DL1998PTC092925 |
|
Name of the
company |
RICE INDIA
EXPORTS PRIVATE LIMITED |
|
Address of the registered
office or of the principal place of
business in |
SF-22, 2nd Floor, Pearls Omaxe, Netaji Subhash Place, Ring Road, Pitampura, New Delhi-110034, India |
|
This form is for |
Modification of
charge |
|
Charge identification
number of the charge to be modified |
10191565 |
|
Type of charge |
·
Book
debts ·
Others |
|
Particular of
charge holder |
Kotak Mahindra Bank Limited, 36-38A, Nariman Bhavan, 227, D, Nariman
Point, Mumbai-400021, Maharashtra, India |
|
Nature of
instrument creating charge |
Supplemental Deed
of Hypothecation. |
|
Date of
instrument Creating the charge |
10.01.2012 |
|
Amount secured by
the charge |
Rs. 310.000
Millions |
|
Brief of the principal
terms an conditions and extent and operation of the charge |
Rate of interest EPC,STL, FBN, CC,
Adhoc EPC - Floating over the tenure of the facility. PCFC/ Adhoc PCFC
- To be decided by business Head - ABG at the time of disbursement. Terms of repayment EPC/PCFC, Adhoc
EPC/PCFC - The liquidation of the packing credit advance shall be out of
export bill discounted with the Bank or out of export realizations only. STL - Loan shall
be recovered by bullet repayment at the end of tenor by debiting Current A/C
/Cash Credit A/C of the borrower on due dates. Margin CC - 30% on stock
and 40% on book debts (Up to 60 days). Extent and operation of the charge First and
exclusive charge by way of Hypothecation of Current assets present and future
of the Borrower, in favour of Kotak Mahindra bank as security for repayment
of financial facilities granted by the Bank to the Borrower.(The overall
exposure of the facilities EPC/PCFC, STL, FBD/FBP, FBN not to exceed
Rs.120.000 Millions. Forex forward - Rs. 60.000 Millions, Cash Credit
facility of Rs.30.000 Millions, Adhoc EPC/PCFC/FBP/FBN/FBD -100.000 Millions.
(Totalling of Rs. 310.000 Millions). |
|
Short particulars
of the property charged (Including location of the property) |
The whole of Borrower's
Current assets both present and future as described in Schedule II to the
Supplemental Deed of Hypothecation. |
|
Particulars of
the present modification |
Bank had granted
facilities of Rs.190.000 Millions to the Borrower which was secured by way of
Hypothecation on Current assets of the company on 25/11/2009. Now bank has
revise said facilities for total amounting of Rs.310.000 Millions and said
charge is modified accordingly. |
FIXED ASSETS
·
Land
·
Plant and Machinery
·
Furniture and Fixtures
·
Vehicles
·
EDP Equipments
·
Goodwill
·
Computer Software
·
Trademarks
·
Mastheads and Publishing
Titles
·
Licenses and Franchise
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. 54.96 |
|
|
1 |
Rs. 87.49 |
|
Euro |
1 |
Rs. 70.15 |
INFORMATION DETAILS
|
Report Prepared
by : |
DPT |
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 |
3 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
2 |
|
--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 |
|
29 |
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.