MIRA
INFORM REPORT
|
Report Date : |
21.11.2012 |
IDENTIFICATION DETAILS
|
Name : |
DOUSE FIRE SYSTEMS PRIVATE LIMITED |
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Registered
Office : |
Office No. 002, Ground Floor, B Wing, Neelkanth Co-operative Housing Society,
Near Makhmali Talao, Thane – 400601, |
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Country : |
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Financials (as
on) : |
31.03.2012 |
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Date of
Incorporation : |
01.04.1999 |
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Com. Reg. No.: |
11-119239 |
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Capital
Investment / Paid-up Capital : |
Rs. 13.800
Millions |
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CIN No.: [Company Identification
No.] |
U24290MH1999PTC119239 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Providing comprehensive solutions in the field of fire and security. |
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No. of Employees
: |
Information declined by management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (44) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 110000 |
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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. Trade
relations are reported to be fair. Business is active. Payments are reported
to be usually correct and as per commitments. The company can be considered 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.
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.
INFORMATION DENIED
MANAGEMENT NON CO-OPERATIVE (91-9833129888)
LOCATIONS
|
Registered/ Sales Office : |
Office No. 002, Ground Floor, B Wing, Neelkanth Co-operative Housing Society,
Near Makhmali Talao, Thane – 400601, Maharashtra, India |
|
Tel. No.: |
91-22-25391365/ 25424745/ 32655838/ 25432529/ 25434121 |
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Fax No.: |
91-22-25391365 |
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E-Mail : |
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Website : |
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Branch Office |
302, 3rd Floor, C-Wing, Prem Sagar Plaza, Chafekar Chowk, Chinchwad, Pune, Maharashtra, India |
DIRECTORS
AS ON 29.09.2012
|
Name : |
Mr. Rakesh Prathemesh Kale |
|
Designation : |
Director |
|
Address : |
Brahmand Complex, Phase IV, B-5/503, Godbunder Road, Thane – 400607,
Maharashtra, India |
|
Date of Appointment : |
01.04.1999 |
|
DIN No.: |
00147626 |
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|
|
|
Name : |
Mr. Satish Rastrapati Upadhya |
|
Designation : |
Director |
|
Address : |
A-7/201, Rutuenclave, Opposite Muchhala, Polytechnic, Ghodbunder Road,
Thane – 400607, Maharashtra, India |
|
Date of Appointment : |
01.04.1999 |
|
DIN No.: |
00147680 |
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|
|
|
Name : |
Padma Rakesh Kale |
|
Designation : |
Director |
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Address : |
B-5/503, Brahmand Resi I-Phase, Azad Nagar, Thane – 400607,
Maharashtra, India |
|
Date of Appointment : |
01.04.1999 |
|
DIN No.: |
00867955 |
|
|
|
|
Name : |
Mrs. Swarnarekha Upadhya |
|
Designation : |
Director |
|
Address : |
A/7, 201 Rutu Enclave, Godbunder Road, Opposite Muchala,
Polytechnique, Thane – 400607, Maharashtra, India |
|
Date of Appointment : |
01.04.1999 |
|
DIN No.: |
02500072 |
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|
|
|
Name : |
Mr. Narayan Pandurang Patil |
|
Designation : |
Director |
|
Address : |
1701, Building Bo. 1C, Siddhachal Phase VI, Near Vasant Vihar,
Pokharan No. 2, Thane – 400607, Maharashtra, India |
|
Date of Appointment : |
01.06.2009 |
|
DIN No.: |
02776940 |
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|
|
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Name : |
Mrs. Sneha Narayan Patil |
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Designation : |
Director |
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Address : |
Flat No. 1701, 17 Floor, Building Bo. 1C, Siddhachal Phase VI, Near
Vasant Vihar, Pokharan Road No. 2, Thane – 400607, Maharashtra, India |
|
Date of Appointment : |
01.06.2009 |
|
DIN No.: |
02791112 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 29.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
Rakesh Prathemesh Kale |
|
460000 |
|
Satish Rastrapati Upadhya |
|
460000 |
|
Narayan Pandurang Patil |
|
460000 |
|
Total |
|
1380000 |
AS ON 29.09.2012
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Directors
or relatives of directors |
|
100.00 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Providing comprehensive solutions in the field of fire and security. |
GENERAL INFORMATION
|
Customers : |
Ř Tata Consultancy
Services Ř ACC Ř L&T Ř Global Services Ř Essar Ř Thermax Ř Margan Stanley Ř Sungard Ř Mahindra Ř LRN Ř RSP Ř Zydus Ř State Bank of
India Ř HSBC Ř DBS |
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No. of Employees : |
Information declined by management |
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Bankers : |
Ř
The
Shamrao Vithal Co-Operative Bank Limited, Shop No. 11 and 12, Sita Vihar,
Damani Estate, L.B.S. Marg,
Naupada, Thane (West), Thane – 400602, Maharashtra, India Ř HDFC Bank
Limited |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
Anil Ghadawale and Company Chartered Accountants |
|
Address : |
C-20, OM Shrishti, Dumping Road, Mulund (West), Mumbai – 400080,
Maharashtra, India |
|
Tel. No.: |
91-22-25695196 |
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Fax No.: |
91-22-25695196 |
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E-Mail : |
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Income-tax
PAN of auditor or auditor's firm : |
ALUPG2896D |
CAPITAL STRUCTURE
AS ON 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2,000,000 |
Equity Shares |
Rs. 10/- each |
Rs. 20.000 Millions |
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|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1,380,000 |
Equity Shares |
Rs.10/- each |
Rs. 13.800
Millions |
|
|
|
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|
a. Reconciliation of share capital
|
Particulars |
31.03.2012 |
|
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|
Number |
Amount |
|
Equity Shares |
|
|
|
Shares outstanding at the beginning of the
year |
715500 |
7.155 |
|
Shares issued during the year |
664500 |
6.645 |
|
Shares bought back during the year |
-- |
-- |
|
Shares outstanding at the end of the year |
1380000 |
13.800 |
b. Shareholders holding more than 5% of Share
|
Particulars |
31.03.2012 |
|
|
|
Number |
% of Holding |
|
Rakesh Prathemesh Kale |
460000 |
33.34 |
|
Satish Rastrapati Upadhya |
460000 |
33.33 |
|
Narayan Pandurang Patil |
460000 |
33.33 |
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 |
13.800 |
8.025 |
1.500 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
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|
3] Reserves & Surplus |
14.696 |
9.986 |
5.690 |
|
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
28.496 |
18.011 |
7.190 |
|
|
LOAN FUNDS |
|
|
|
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|
1] Secured Loans |
10.563 |
17.075 |
2.138 |
|
|
2] Unsecured Loans |
2.292 |
3.225 |
2.463 |
|
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TOTAL BORROWING |
12.855 |
20.300 |
4.601 |
|
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DEFERRED TAX LIABILITIES |
0.000 |
0.024 |
0.000 |
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|
|
|
|
|
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TOTAL |
41.351 |
38.335 |
11.791 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
10.637 |
11.887 |
6.802 |
|
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
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INVESTMENT |
0.100 |
0.100 |
0.100 |
|
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DEFERREX TAX ASSETS |
0.050 |
0.000 |
0.009 |
|
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|
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
5.429
|
5.829 |
0.948 |
|
|
Sundry Debtors |
53.245
|
51.854 |
25.447 |
|
|
Cash & Bank Balances |
6.971
|
6.722 |
0.487 |
|
|
Other Current Assets |
0.117
|
0.000 |
1.249 |
|
|
Loans & Advances |
1.826
|
1.467 |
3.102 |
|
Total
Current Assets |
67.588
|
65.872 |
31.233 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
27.848
|
29.853 |
15.026 |
|
|
Other Current Liabilities |
7.834
|
8.371 |
4.765 |
|
|
Provisions |
1.342
|
1.300 |
6.562 |
|
Total
Current Liabilities |
37.024
|
39.524 |
26.353 |
|
|
Net Current Assets |
30.564
|
26.348 |
4.880 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
41.351 |
38.335 |
11.791 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
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|
SALES |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL |
187.660 |
186.188 |
86.044 |
|
|
|
|
|
|
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|
|
EXPENSES |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
181.304 |
180.009 |
82.497 |
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
7.066 |
6.179 |
3.547 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
2.186 |
1.883 |
1.101 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
4.880 |
4.296 |
2.446 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
0.35 |
5.35 |
16.31 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
2.60 |
2.31 |
2.84 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
9.03 |
7.95 |
9.33 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.25 |
0.34 |
0.49 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.75 |
3.32 |
4.31 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.83 |
1.67 |
1.19 |
LOCAL AGENCY FURTHER INFORMATION
SUNDRY CREDITORS
DETAILS:
|
Particulars |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
(Rs. In Millions) |
||
|
Acceptances |
27.848 |
29.853 |
15.026 |
|
Other than Acceptances |
0.000 |
0.000 |
0.000 |
|
Sundry Creditors |
27.848 |
29.853 |
15.026 |
|
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 |
Yes |
|
19] |
Payments terms |
No |
|
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 |
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 |
No |
|
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 |
Note: The registered address of the company has been shifted from 31 Sita
Vihar 1st Floor above Shubh Hotel, Damani Estate Thane West, District Thane -
400602, Maharashtra, India to the present w.e.f. 26.09.2011
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate
identity number of the company |
U24290MH1999PTC119239 |
|
Name of the
company |
DOUSE FIRE
SYSTEMS PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
31 Sita Vihar 1st
Floorabove Shubh Hotel, Damani Estate Thane West, District Thane - 400602,
Maharashtra, India Email: dousefire@mtnl.net.in |
|
This form is for |
Modification of
charge |
|
Charge
identification number of the modified |
10177245 |
|
Type of charge |
Immovable
Property |
|
Particular of
charge holder |
The Shamrao
Vithal Co-Operative Bank Limited, Shop No. 11 and 12,Sita Vihar, Damani
Estate, L.B.S. Marg, Naupada,
Thane (West), Thane – 400602, Maharashtra, India Email: nawghareuu@svcbank.com |
|
Nature of
description of the instrument creating or modifying the charge |
Recording Letter
Evidencing Deposit of Title Deeds |
|
Date of
instrument Creating the charge |
22.01.2011 |
|
Amount secured by
the charge |
Rs. 28.000
Millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest CC (15.000
Millions):@PLR-1% ie. 14.50% p.a. (Review due in Oct.11) Term Loan (Fresh
– 3.000 Millions): @PLR % P.A.15.50% p.a. Terms of Repayment Term Loan
repayable in 60 monthly installments of Rs. 72161 each Margin CC: 25% TL: 25% BG: 25% Extent and Operation of the charge To secure due repayment
of credit facilities aggregating Rs. 28.000 Millions, together with all
interests, costs, charges, and expenses thereon, granted by the Bank to the
Company Others Total Facilities: Cash Credit: Rs. 15.000 Millions (enhanced by Rs.
10.000 Millions) Term Loan (New):
Rs. 3.000 Millions Bank
Guarantee: Rs. 10.000 Millions
(enhanced by Rs. 3.000 Millions) LC : Rs. (15.000) Millions (enhanced by
Rs.10.000 Millions) (full interchangeability of LC with CC limit with
upper limit of Rs.
15.000 Millions) ----------------------------------------- Total Rs. 28.000 Millions |
|
Short particulars
of the property charged |
All that piece
and parcel of land being Shop No. A1/6, admeasuring 385 sq.ft., Gr. Floor,
Regal Plaza Shopping Centre, Lokpuram, Off Pokhran Road, No. 2, Thane (West) All that piece
and parcel of land being the Office Premises No.31, admeas.27.50 sq.mts.,
situated on 1st Floor, First Wing of Sita Vihar CHSL, Near Damani Estate, LBS
Marg, Naupada, Thane(West) 400602 Equitable
Mortgage of Flat No.002, admeas. 700 sq.ft. carpet area, Gr. Floor, B Wing,
Neelkanth CHS, CTS No.2, Survey No.214, Tika No. 12, Village Panchpakhadi, Thane
(West) |
|
Particulars of
the present modification |
By the present
modification, the Cash Credit facilities have been enhanced from Rs. 17.000
Millions to Rs. 28.000 Millions, being CC: Rs. 15.000 Millions (enhanced from
Rs. 5.000 Millions by Rs. 10.000 Millions), Fresh Term Loan of Rs. 3.000 Millions, Bank Guarantee: Rs. 10.000
Millions (enhanced from Rs. 7.000 Millions by Rs. 3.000 Millions), (LC have
been enhanced from Rs. 5.000 Millions to Rs.15.000 Millions) (full
interchangeability of LC with CC limit with upper limit of Rs. 15.000
Millions). Thus the overall
charge stands modified to Rs. 28.000 Millions |
FIXED ASSETS:
Ř
Buildings
Ř
Furniture and Fixture
Ř
Vehicle
Ř
Office Equipment
Ř
Computers
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. 54.91 |
|
|
1 |
Rs. 87.38 |
|
Euro |
1 |
Rs. 70.24 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Report Prepared
by : |
BVA |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
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 |
5 |
|
--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 |
|
44 |
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.