MIRA
INFORM REPORT
|
Report Date : |
23.11.2012 |
IDENTIFICATION DETAILS
|
Name : |
LAKHANI DYESTUFFS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
219, Gala Complex, Din Dayal Upadhyay Marg, Mulund (West), Mumbai –
400080, |
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|
|
|
Country : |
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|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
22.07.1994 |
|
|
|
|
Com. Reg. No.: |
11-079809 |
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|
|
|
Capital
Investment / Paid-up Capital : |
Rs.2.500 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24114MH1994PTC079809 |
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|
|
|
Legal Form : |
Private Limited Liability Company |
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|
|
|
Line of Business
: |
Manufacturer of Dyes and Chemicals. |
|
|
|
|
No. of Employees
: |
Not Available |
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 180000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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|
Comments : |
Subject is an established company having satisfactory track. There
appears some dip in the income earned from operations and profits during
2012. However, trade relations are reported as decent. Business is active.
Payments are reported to be usually correct. The company can be considered normal for business dealings at usual
trade terms an conditions. |
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 : |
219, Gala Complex, Din Dayal Upadhyay Marg, Mulund (West), Mumbai –
400080, Maharashtra, India |
|
Tel. No.: |
91-22-25684182 |
|
Fax No.: |
91-22-25640169 |
|
E-Mail : |
DIRECTORS
As on: 29.09.2012
|
Name : |
Mr. Dilip Shantilal Lakhani |
|||||||||||||||||||||||||||
|
Designation : |
Director |
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|
Address : |
505/ 506, Silver Court, Bawa Praduman Singh, Compound Devidayal Road, Mulund (West), Mumbai – 400080, Maharashtra, India |
|||||||||||||||||||||||||||
|
Date of Birth/Age : |
01.01.1956 |
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|
Date of Appointment : |
08.09.1956 |
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|
DIN No.: |
00325995 |
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|||||||||||||||||||||||||||
|
Name : |
Mr. Shantilal Rugnath Lakhani |
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|
Designation : |
Director |
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|
Address : |
B-15/ 16 Neelkanth Tirth , Zaver Road, Mulund (West), Mumbai - 400080, Maharashtra, India |
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|
Date of Birth/Age : |
22.08.1928 |
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Date of Appointment : |
08.09.1994 |
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DIN No.: |
00330809 |
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Other Directorship :
|
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|||||||||||||||||||||||||||
|
Name : |
Mr. Bharat Shantilal Lakhani |
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|
Designation : |
Director |
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|
Address : |
E-7 Konark Indraprasth, Jain Temple Road, Nahur Village, Mulund (West), Mumbai - 400080, Maharashtra, India |
|||||||||||||||||||||||||||
|
Date of Birth/Age : |
18.10.1953 |
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|
Date of Appointment : |
01.04.2001 |
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DIN No.: |
00330734 |
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Other Directorship :
|
||||||||||||||||||||||||||||
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|
|
|||||||||||||||||||||||||||
|
Name : |
Mr. Ketan Shantilal Lakhani |
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|
Designation : |
Director |
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|
Address : |
B/15, Neelkanth Tirth, Zaver Road , Mulund (West), Mumbai – 400080, Maharashtra, India |
|||||||||||||||||||||||||||
|
Date of Birth/Age : |
23.01.1964 |
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|
Date of Appointment : |
16.07.2008 |
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DIN No.: |
02263330 |
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MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 29.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
Shantilal R Lakhani |
|
32400 |
|
Bharat S Lakhani |
|
27500 |
|
Dilip S Lakhani |
|
30050 |
|
Ketan S Lakhani |
|
27500 |
|
Asha B Lakhani |
|
2500 |
|
Mita D Lakhani |
|
2500 |
|
Dipika K Lakhani |
|
2500 |
|
Paurav B Lakhani |
|
2500 |
|
Krutika D Lakhani |
|
2500 |
|
Niyati D Lakhani |
|
2500 |
|
Manan K Lakhani |
|
2500 |
|
Shantilal R Lakhani (HUF) |
|
2500 |
|
Ketan S Lakhani (HUF) |
|
2500 |
|
Bharat S Lakhani (HUF) |
|
2500 |
|
Paurav Colourants Private Limited, India |
|
102500 |
|
Jayantilal K Jasani |
|
50 |
|
Kinjal Bharat Lakhani |
|
2500 |
|
Paurav Enterprises, India |
|
2500 |
|
|
|
|
|
Total |
|
250000 |
Equity Share Break up (Percentage of Total Equity)
As on: 29.09.2012
|
Category |
|
Percentage |
|
|
|
|
|
Bodies corporate |
|
41.00 |
|
Directors or relatives of directors |
|
59.00 |
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Dyes and Chemicals. |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
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Bankers : |
The Shamrao Vitahl Co-Operative Bank Limited, G-1,6,7,8, Ganesh Kripa, RHB Road, Mulund (West), Mumbai - 400080, Maharashtra, India |
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Facilities : |
(Rs.
In Millions)
|
|
|
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|
Banking
Relations : |
-- |
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|
Auditors : |
|
|
Name : |
Shaparia and Mehta Chartered Accountants |
|
Address : |
1/74, Krishna Kunj, R.A. Kidwai Road, Kings Circle, Matunga (Cr), Mumbai – 400019, Maharashtra, India |
|
Tel. No.: |
91-22-24098905/ 06/ 07/ 08 |
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E-Mail : |
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|
PAN No.: |
AABFS3225N |
CAPITAL STRUCTURE
As on: 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1500000 |
Equity Shares |
Rs.10/- each |
Rs.15.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
250000 |
Equity Shares |
Rs.10/- each |
Rs.2.500
Millions |
|
|
|
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|
{Of the above 50,080 equity shares of Rs.10/ each, were allotted as fully paid up. pursuant to a contract without payment being received in cash)
1. The company
has Increased Its authorised share capital from Rs2.500 Millions to Rs.15.000
Millions vide it extra ordinary general meeting dated 16.03.2012.
2. The Company has only one class of equity shares having a par value of Rs.10 each. Each holder of equity shares is entitled to one vote per share
3. In the event of liquidation of the Company, the holders of equity shares will be entitled to receive remaining assets of the Company, after distribution of all preferential amounts. The distribution will be In proportion to the number of equity shares held by the shareholders
4. Reconciliation of
the number of share and amount outstanding at the beginning and at the end of
the reporting period:
|
Particular |
As at 31 March
2012 |
|
|
Number of Share |
Rs. In Millions |
|
|
Equity shares with voting rights |
250000 |
2.500 |
|
Opening Balance |
- |
- |
|
Fresh issue |
- |
- |
|
Bonus |
- |
- |
|
ESOP |
- |
- |
|
Conversion |
- |
- |
|
Buy back |
- |
- |
|
Closing Balance |
250000 |
2.500 |
|
Total |
250000 |
2.500 |
5. Details of shares
held by each shareholder holding more than 5% shares:
|
Particular |
As at 31 March
2012 |
|
|
Number of Share
Held |
% holding in
that class of shares |
|
|
Shantilal Ragunath Lakhani |
32400 |
12.98% |
|
Hasumati Shantilal Lakhani |
- |
0% |
|
Bharat Shantilal Lakhani |
27500 |
11% |
|
Dilip Shantilal Lakhani |
30050 |
12.02% |
|
Ketan Shantilal Lakhani |
27500 |
11% |
|
Asha Bharat Lakhani |
2500 |
1% |
|
Meeta Dilip Lakhani |
2500 |
1% |
|
Dipika Ketan Lakhani |
2500 |
1% |
|
Paurav Bharat Lakhani |
2500 |
1% |
|
Krulika Dilip Lakhani |
2500 |
1% |
|
Niyati Dilip Lakhani |
2500 |
1% |
|
Manan Keten Lakhani |
2500 |
1% |
|
Shantilal K Lakhani (HUF) |
2500 |
1% |
|
Bharat S Lakhani (HUF) |
2500 |
1% |
|
Ketan S Lakhani (HUF) |
2500 |
1% |
|
Paurav Colourants Private Limited |
102500 |
41% |
|
Paurav Enterprise |
2500 |
1% |
|
Kinjal Saurabh Shah (Daughter of Bharat Lakhani) |
2500 |
1% |
|
Jayantilal K Jasani |
50 |
0.02% |
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 |
2.500 |
2.500 |
2.500 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
43.998 |
36.372 |
22.726 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
46.498 |
38.872 |
25.226 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
42.910 |
43.593 |
33.692 |
|
|
TOTAL BORROWING |
42.910 |
43.593 |
33.692 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
89.408 |
82.465 |
58.918 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
9.855 |
11.329 |
11.662 |
|
|
Capital work-in-progress |
27.865 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.800 |
0.050 |
0.050 |
|
|
DEFERREX TAX ASSETS |
0.622 |
0.604 |
0.555 |
|
|
OTHER NON-CURRENT ASSETS |
2.986 |
0.559 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
43.785
|
32.671 |
31.390 |
|
|
Sundry Debtors |
19.622
|
18.125 |
11.051 |
|
|
Cash & Bank Balances |
3.583
|
21.826 |
10.756 |
|
|
Other Current Assets |
0.179
|
0.454 |
0.551 |
|
|
Loans & Advances |
18.324
|
18.844 |
15.454 |
|
Total
Current Assets |
85.493
|
91.920 |
69.202 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
32.386
|
13.720 |
19.086 |
|
|
Other Current Liabilities |
2.087
|
2.116 |
0.000 |
|
|
Provisions |
3.740
|
6.161 |
5.465 |
|
Total
Current Liabilities |
38.213
|
21.997 |
24.551 |
|
|
Net Current Assets |
47.280
|
69.923 |
44.651 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
89.408 |
82.465 |
56.918 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
103.814 |
147.992 |
123.803 |
|
|
|
Other Income |
NA |
NA |
NA |
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
EXPENSES |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
|
22.586 |
15.704 |
|
|
|
|
|
|
|
|
|
|
DEPRECIATION/
AMORTISATION |
|
2.254 |
2.621 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
12.012 |
20.331 |
13.083 |
|
|
|
|
|
|
|
|
|
|
TAX |
4.385 |
6.686 |
(0.070) |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
7.627 |
13.645 |
13.153 |
|
|
|
|
|
|
|
|
|
|
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
32.372 |
18.726 |
5.573 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
39.999 |
32.372 |
18.726 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
54.965 |
95.867 |
NA |
|
|
TOTAL EARNINGS |
54.965 |
95.867 |
NA |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
5.450 |
6.952 |
3.541 |
|
|
TOTAL IMPORTS |
5.450 |
6.952 |
3.541 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
30.51 |
54.58 |
52.61 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
Net Profit Margin (PBT/Sales) |
(%) |
11.57 |
13.74 |
10.57 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
12.60 |
19.69 |
16.18 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.26 |
0.52 |
0.52 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.74 |
1.69 |
2.31 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.24 |
4.18 |
2.82 |
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) |
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 |
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/ACTIVITIES:
The performance of the Company for the year has been satisfactory. The Sales, Profit before tax and Profit after tax for the year were Rs.103.814 Millions, Rs.12.012 Millions and Rs.7.627 Millions respectively.
FIXED ASSETS:
· Air Conditioner
· Auto Weight Machine
· Camera
· Electrical Fittings
· Fax Machine
· Laboratory Equipments
· Office Equipments
· Typewriter
· U P S
· Weighing Scale
· Mobile Phone
· Computer
· Cycle
· Factory Building
· Furniture and Fixtures
· Laptop
· Motor Car
· Plant and Machinery
· Scooter
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.55.16 |
|
|
1 |
Rs.88.03 |
|
Euro |
1 |
Rs.70.86 |
INFORMATION DETAILS
|
Report Prepared
by : |
VRN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--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.