|
Report Date : |
29.11.2012 |
IDENTIFICATION DETAILS
|
Name : |
YO-TANA MACHINE TOOLS PRIVATE LIMITED |
|
|
|
|
Registered Office
: |
10, Aadarsh Society, Near Swastik Char Rasta, Navrangpura,
Ahmedabad-380009, Gujarat |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
20.04.1987 |
|
|
|
|
Com. Reg. No.: |
04-009569 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.0.431 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U29224GJ1987PTC009569 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
AHMY00162B |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Polypropylene Filter Press. |
|
|
|
|
No. of Employees
: |
20 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (34) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 17000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having moderate track. Company
performance has been improved from previous years. But sales turnover remain stable. However, trade relations are reported
to be fair. Business is active. Payments are reported to be slow but correct.
The company can be considered for business dealing 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.
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 |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
SE 3B |
|
Rating Explanation |
Financial strength and performance capacity
on the company is moderate |
|
Date |
June 2012 |
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 PARTED BY (General Details)
|
Name : |
Mr. Dhirbhai |
|
Designation : |
Accountant |
|
Contact No.: |
91-79-26589235 |
|
Date : |
26.11.2012 |
LOCATIONS
|
Registered Office : |
10, Aadarsh Society, Near Swastik Char Rasta, Navrangpura,
Ahmedabad-380009, Gujarat, India |
|
Tel. No.: |
91-79-26589235/ 30087036/ 26569139 |
|
Mobile No.: |
91-9825025551 (Mr. Amol Shah) |
|
Fax No.: |
91-79-26586705 |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
|
|
|
|
Administrative Office/ Factory 1 : |
11, Mill Officers Colony, 2nd Floor, Behind La Gajjar Chamber, Ashram
Road, Ahmedabad-380009, Gujarat, India |
|
Tel. No.: |
91-79-26589235/ 30087036/ 30087039 |
|
Fax No.: |
91-79-26586705/ 26589235 |
|
|
|
|
Factory 2 : |
C-1/507, G.I.D.C., Kerala, Near Bavla, District Ahmedabad, Gujarat,
India |
|
Tel No.: |
91-79-30087036 / 30087037 |
|
Fax No.: |
91-79-26586705 |
|
|
|
|
Bombay Office : |
Uttam Manek Chamber, 3rd Floor, 61/63, Kazi Saiyed Street,
Mumbai – 400003, Maharashtra, India |
|
Tel No.: |
91-22-23448515 |
|
Fax No.: |
91-22-23452068 |
DIRECTORS
AS ON 29.09.2012
|
Name : |
Mr. Atulbhai Kirtikumar Shah |
|
Designation : |
Director |
|
Address : |
10, Aadarsh Society, Near Swastik Char Rasta, Navrangpura,
Ahmedabad-380009, Gujarat, India |
|
Date of Birth/Age : |
16.11.1945 |
|
Date of Appointment : |
27.05.1987 |
|
DIN No.: |
01237809 |
|
|
|
|
Name : |
Mr. Subhadraben Ramnlal Shah |
|
Designation : |
Director |
|
Address : |
47, Swir Vihar Society, Near Panjara Pole, Ambawadi, Ahmedabad-380015,
Gujarat, India |
|
Date of Birth/Age : |
06.07.1925 |
|
Date of Appointment : |
01.01.1990 |
|
DIN No.: |
01479072 |
KEY EXECUTIVES
|
Name : |
Mr. Dhirbhai |
|
Designation : |
Accountant |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
(AS ON 29.09.2012)
|
Names of Shareholders |
|
No. of Shares |
|
|
|
|
|
Atulbhai Kiritbhai Shah |
|
4280 |
|
Pratibhaben Atulbhai Shah |
|
500 |
|
Ishitaben Atulbhai Shah |
|
2110 |
|
Nishitabhai Atulbhai Shah |
|
10 |
|
Amol Atulbhai Shah |
|
14610 |
|
Neha Niranjanbhai Shah |
|
10 |
|
Dilip Chandulal Parikh |
|
10 |
|
Arun Ramanlal Shah |
|
5490 |
|
Anjanaben Arunbhai Shah |
|
13020 |
|
Ashok Chinubhai Shah |
|
20 |
|
Shantiben Chinubhai Shah |
|
10 |
|
Subhadraben Ramanlal Shah |
|
3000 |
|
Mayuriben Ashokbhai Shah |
|
30 |
|
Kumudiben Ramanlal Shah |
|
10 |
|
Aswina Jagendra Shah |
|
10 |
|
Jagendra Jayantilal Shah |
|
10 |
|
Koshaben N Shah |
|
10 |
|
|
|
|
|
Total |
|
43140 |
(AS ON 30.09.2012)
Equity Shares Break – up
|
Category |
|
Percentage |
|
|
|
|
|
Directors or relatives of directors |
|
100.00 |
|
|
|
|
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Polypropylene Filter Press. |
||||||
|
|
|
||||||
|
Products : |
|
||||||
|
|
|
||||||
|
Exports : |
|
||||||
|
Products : |
· Filter Press (Automatic / Manual) |
||||||
|
Countries : |
· Nepal · Thailand |
||||||
|
|
|
||||||
|
Imports : |
|
||||||
|
Products : |
·
Polypropylene Filter Elements |
||||||
|
Countries : |
·
Germany |
||||||
|
|
|
||||||
|
Terms : |
|
||||||
|
Selling : |
Cash and Credit |
||||||
|
|
|
||||||
|
Purchasing : |
Cash and Credit |
GENERAL INFORMATION
|
Suppliers : |
·
Anil S Shah and Company ·
Shiv Telesystems ·
Chandresh Cables Limited ·
Patel Tools Traders ·
Ea Water Private Limited ·
Uttar Gujarat Vij Company Limited ·
Ajanta Metals ·
BK Patel and Company ·
Reliance |
|||||||||||||||||||||
|
|
|
|||||||||||||||||||||
|
Customers : |
Wholesalers and Retailers · Indian Rare Earths Limited |
|||||||||||||||||||||
|
|
|
|||||||||||||||||||||
|
No. of Employees : |
20 (Approximately) |
|||||||||||||||||||||
|
|
|
|||||||||||||||||||||
|
Bankers : |
·
Citi Bank, Ahmedabad Branch, Gujarat, India ·
State Bank of India ·
HDFC Bank Limited |
|||||||||||||||||||||
|
|
|
|||||||||||||||||||||
|
Facilities : |
|
|||||||||||||||||||||
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Anil S. Shah and Company Chartered Accountant |
|
Address : |
302, Shaily Complex, Opposite Loha Bhavan, Near Old High Court Road, Navarangpura,
Ahmedabad-380009, Gujarat, India |
|
Tel. No.: |
91-79-27541146 |
|
PAN No.: |
AAJFA6533D |
|
|
|
|
Associates/Subsidiaries : |
·
Nirmala
Polyplast Industry, Ahmedabad, Gujarat, India Line of Business : Manufacturer and Exporter of Filter Press, Fully Automatic Filter Press,
P.P Filter Elements, I–Beam Type Over hanging and Conventional Filter Press
etc ·
Kirtipolyplast
Industry Line of Business : Manufacturer and Supplier of Filter Press, Fully
Automatic Filter Press, P.P Filter Elements, I–Beam Type Over hanging and
Conventional Filter Press etc |
CAPITAL STRUCTURE
(AS ON 31.03.2012)
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
50000 |
Equity Shares |
Rs.10/- each |
Rs. 0.500 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
43140 |
Equity Shares |
Rs.10/- each |
Rs.0.431
Million |
|
|
|
|
|
Reconciliation of the number of shares outstanding at the beginning and
at the end of the reporting period
|
Particulars |
2011-12 |
|
|
Number |
Amount |
|
|
|
|
|
|
Shares outstanding at the beginning of the
year |
43140 |
0.431 |
|
Shares issued during the year |
0 |
0 |
|
Shares bought back during the year |
0 |
0 |
|
Shares outstanding at the end of the year |
43140 |
0.431 |
Terms attached Equity Share
·
The Company has only one class of Equity Shares having a par value
of Rs.10/- per share. Each holder of Equity shares is entitled to one vote per
share.
·
In the event of liquidation of the Company, the holders of
the equity shares would 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 the equity shares held by the shareholders.
Shares in the company held by each shareholder holding more than 5
percent shares
|
Name of
Shareholder |
2011-12 |
|
|
|
No.
of Shares held |
%
of Holding |
|
Atulbhai Kirtikar
Shah |
4130 |
10 |
|
Amol Atulbhai
Shah |
14410 |
34 |
|
Arunbhai RamanLal
Shah |
5490 |
13 |
|
Anjanaben
Arunbhai Shah |
13020 |
30 |
|
Subhadraben
Ramanlal Shah |
3000 |
7 |
As per the of the company including it
register of shareholders / Members and other declaration received from the
shareholders regarding beneficial interest, the above shareholding represent
both legal and beneficial ownership of the shares.
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 |
0.431 |
0.431 |
0.431 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
3.883 |
2.134 |
2.074 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
4.314 |
2.565 |
2.505 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
2.717 |
3.376 |
3.000 |
|
|
TOTAL BORROWING |
2.717 |
3.376 |
3.000 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
7.031 |
5.941 |
5.505 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
5.956 |
4.437 |
4.283 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.076 |
0.000 |
0.334 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.021 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
0.000
|
0.000
|
0.000 |
|
|
Sundry Debtors |
0.173
|
0.133
|
1.064 |
|
|
Cash & Bank Balances |
0.025
|
0.147
|
0.070 |
|
|
Other Current Assets |
0.387
|
1.150
|
0.000 |
|
|
Loans & Advances |
0.550
|
0.204
|
0.269 |
|
Total
Current Assets |
1.135
|
1.634
|
1.403 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditor |
0.033
|
0.026
|
0.428 |
|
|
Other Current Liabilities |
0.000
|
0.000
|
0.000 |
|
|
Provisions |
0.103
|
0.104
|
0.108 |
|
Total
Current Liabilities |
0.136
|
0.130
|
0.536 |
|
|
Net Current Assets |
0.999
|
1.504
|
0.867 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
7.031 |
5.941 |
5.505 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
0.040 |
0.007 |
0.000 |
|
|
|
Other Income |
1.691 |
0.108 |
0.357 |
|
|
|
TOTAL |
1.731 |
0.115 |
0.357 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
0.000 |
0.003 |
0.000 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
1.731 |
0.112 |
0.357 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
0.364 |
0.006 |
0.007 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE TAX
|
1.367 |
0.106 |
0.350 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
(0.382) |
0.045 |
0.109 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
1.749 |
0.061 |
0.241 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
40.54 |
1.41 |
-- |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
101.04
|
53.04
|
67.51 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
3417.50
|
1514.29
|
0.00 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
19.28
|
1.75
|
6.13 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.32
|
0.04
|
0.14 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.66
|
1.37
|
1.41 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
8.35
|
12.57
|
2.62 |
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 |
Yes |
|
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 |
Yes |
|
17] |
Major suppliers |
Yes |
|
18] |
Major customers |
Yes |
|
19] |
Payments terms |
Yes |
|
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 |
Yes |
NOTE
Registered office has been shifted from 18, Ambica Industrial Estate,
Village Eyawa, Taluka S, Ahmedabad, Gujarat, India to the present address
w.e.f.01.10.2008
OPERATIONS
The result of the company seems to be
satisfactory. They hope to improve their sales in near future.
FIXED ASSETS:
·
Building
·
Plant and Equipment
·
Furniture and Fixtures
·
Electric Installation
·
Office Equipment
·
Office Building
·
Air Conditioner
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.55.70 |
|
|
1 |
Rs.89.34 |
|
Euro |
1 |
Rs.72.35 |
INFORMATION DETAILS
|
Information
Gathered by : |
PJA |
|
|
|
|
Report Prepared
by : |
NIT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
4 |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
34 |
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.