|
Report Date : |
27.10.2012 |
IDENTIFICATION DETAILS
|
Name : |
TRIUMPH INTERNATIONAL (INDIA) PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
240-B, Sengundram Village, Singaperumal Koil , Kanchipuram– 603204,
Tamilnadu |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.12. 2010 |
|
|
|
|
Date of
Incorporation : |
18.03.2002 |
|
|
|
|
Com. Reg. No.: |
18-48626 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 1599.833 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U18101TN2002PTC048626 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
CHET06041A CHET06053F |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCT5775D |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturing and Trading of Ladies
Inner Garments |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (26) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 400000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Unknown |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a established company having moderate track record. There financial
for the current year is missing from the government department. And from the
previous year record their appear huge accumulated losses. However, net worth
of the company appears to be strong. Trade relations are reported to be fair.
Business is active. Payments are unknown. The company can be considered for business dealing with some caution. |
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.
INFORMATION DECLINED BY
|
Name : |
Ms. Shobana |
|
Designation : |
Accounts Manager |
|
Date : |
23.10.2012 |
LOCATIONS
|
Registered Office : |
240-B, Sengundram Village, Singaperumal Koil, Kanchipuram – 603204, Tamilnadu,
India |
|
Tel. No.: |
91-44-67414573/ 67414473/ 67414799/ 67414444 |
|
Mobile No.: |
91-9841081419 (Mr. S. Senthil Kumar) |
|
Fax No.: |
91-44-67414799 |
|
E-Mail : |
lalgudi.subramanian@triumph.com |
|
Website : |
|
|
|
|
|
Corporate Office : |
309, |
|
Tel. No.: |
91-22-66973682 |
DIRECTORS
As on: 06.09.2012
|
Name : |
Mr. Oliver Michael Spiesshofer |
|||||||||||||||||||||||||||
|
Designation : |
Director |
|||||||||||||||||||||||||||
|
Address : |
Flat A, 19/F and 20/F, Royalton 1, 118, Pok Fu Lam Road, Hong Kong |
|||||||||||||||||||||||||||
|
Date of Birth/Age : |
10.09.1973 |
|||||||||||||||||||||||||||
|
Date of Appointment : |
22.10.2007 |
|||||||||||||||||||||||||||
|
DIN No.: |
02089359 |
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Name : |
Mr. Prasad Ayyappankave Ramakrishnan |
|||||||||||||||||||||||||||
|
Designation : |
Director |
|||||||||||||||||||||||||||
|
Address : |
Gartenstrasse 45, Adliswil 8134, Switzerland |
|||||||||||||||||||||||||||
|
Date of Birth/Age : |
18.04.1961 |
|||||||||||||||||||||||||||
|
Date of Appointment : |
17.07.2012 |
|||||||||||||||||||||||||||
|
DIN No.: |
05315214 |
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Name : |
Mr. Michael Gerald England |
|||||||||||||||||||||||||||
|
Designation : |
Director |
|||||||||||||||||||||||||||
|
Address : |
G-2/F, 223, DD 230, Lot 409, Tai Hang Hau, Clear Water Bay, New
Territories, Hong Kong |
|||||||||||||||||||||||||||
|
Date of Birth/Age : |
25.03.1963 |
|||||||||||||||||||||||||||
|
Date of Appointment : |
06.09.2012 |
|||||||||||||||||||||||||||
|
DIN No.: |
05315217 |
|||||||||||||||||||||||||||
|
Other Directorship :
|
||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Name : |
Ms. Eluppai. Sugunan. Sreshta |
|||||||||||||||||||||||||||
|
Designation : |
Secretary |
|||||||||||||||||||||||||||
|
Address : |
Apatment 401, Tower 23, Sky City, Vanagaram – Ambathur Road,
Vanagaram, Chennai – 600095, TAMIL Nadu, India |
|||||||||||||||||||||||||||
|
Date of Birth/Age : |
06.08.1946 |
|||||||||||||||||||||||||||
|
Date of Appointment : |
01.02.2011 |
|||||||||||||||||||||||||||
|
PAN No.: |
AAUPS8159G |
|||||||||||||||||||||||||||
KEY EXECUTIVES
|
Name : |
Ms. Shobana |
|
Designation : |
Accounts Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 06.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
Triumph Universa AG, Switzerland |
|
1599831 |
|
Triumph Intertrade AG, Switzerland |
|
2 |
|
|
|
|
|
Total
|
|
1599833 |
Equity Share Break up (Percentage of Total Equity)
As on: 06.09.2012
|
Category |
|
Percentage |
|
|
|
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
100.00 |
|
|
|
|
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing and Trading of ladies Ladies Inner Garments |
||||||||
|
|
|
||||||||
|
Products : |
|
PRODUCTION STATUS As on 31.03.2010
|
Particulars |
|
#Licensed
Capacity |
*Installed
Capacity |
Actual
Production |
|
Briefs and Panties of Cotton |
|
35000000 |
425000 |
39476 |
|
Briefs and Panties of Man Made Fabrics |
|
35000000 |
425000 |
78951 |
|
Brassieres |
|
80000000 |
9700000 |
2293429 |
# As certified by Madras Export Processing Zone (MEPZ)
* Installed capacity is as certified bu the management and relied upon by the auditors, being a technical matter
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
||||||||||||||||||
|
|
|
||||||||||||||||||
|
Bankers : |
Not Available |
||||||||||||||||||
|
|
|
||||||||||||||||||
|
Facilities : |
(Rs.
In Millions)
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Price Waterhouse Chartered Accountants |
|
Address : |
32, Khader Nawaz Khan Road, Nungambakkam, Chennai – 600006, Tamil
Nadu, India |
|
PAN No.: |
AAEFP5579P |
|
|
|
|
Ultimate Holding
Company: |
Triumph lnternational Spiesshofer and Braun KG |
|
|
|
|
Holding Company : |
Triumph Universa AG, Switerland |
|
|
|
|
Associates Company : |
|
CAPITAL STRUCTURE
As on: 06.09.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1800000 |
Equity Shares |
Rs.1000/- each |
Rs. 1800.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1599833 |
Equity Shares |
Rs.1000/- each |
Rs. 1599.833
Millions |
|
|
|
|
|
As on: 31.12.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1500000 |
Equity Shares |
Rs.1000/- each |
Rs. 1500.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
968858 |
Equity Shares |
Rs.1000/- each |
Rs. 968.858
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.12.2010 |
31.12.2009 |
31.12.2008 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
968.858 |
968.858 |
498.859 |
|
|
2] Capital Contribution in Advance |
0.000 |
0.000 |
139.999 |
|
|
3] Reserves & Surplus |
0.000 |
0.000 |
0.000 |
|
|
4] (Accumulated Losses) |
(861.559) |
(719.960) |
(492.438) |
|
|
NETWORTH |
107.299 |
248.898 |
146.420 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
704.522 |
762.398 |
798.236 |
|
|
TOTAL BORROWING |
704.522 |
762.398 |
798.236 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
811.821 |
1011.296 |
944.656 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
732.096 |
751.394 |
750.757 |
|
|
Capital work-in-progress |
27.613 |
0.976 |
10.066 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
261.479
|
128.545
|
378.785 |
|
|
Sundry Debtors |
365.156
|
238.519
|
195.275 |
|
|
Cash & Bank Balances |
52.464
|
421.336
|
156.959 |
|
|
Other Current Assets |
0.116
|
0.043
|
0.043 |
|
|
Loans & Advances |
36.113
|
31.472
|
20.754 |
|
Total
Current Assets |
715.328
|
819.915
|
751.816 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
637.798
|
524.633
|
546.701 |
|
|
Other Current Liabilities |
17.871
|
31.152
|
17.472 |
|
|
Provisions |
7.547
|
5.205
|
3.810 |
|
Total
Current Liabilities |
663.216
|
560.989
|
567.983 |
|
|
Net Current Assets |
52.112
|
258.926
|
183.833 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
811.821 |
1011.296 |
944.656 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.12.2010 |
31.12.2009 |
31.12.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
566.606 |
560.712 |
311.579 |
|
|
|
Other Income |
51.671 |
57.957 |
6.035 |
|
|
|
TOTAL |
618.277 |
618.669 |
317.614 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
759.876 |
845.659 |
734.284 |
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
(141.599) |
(226.990) |
(416.670) |
|
|
|
|
|
|
|
|
|
Less |
TAX |
0.000 |
0.533 |
1.162 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
(141.599) |
(227.523) |
(417.832) |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
(719.961) |
(492.438) |
(74.606) |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
(861.560) |
(719.961) |
(492.438) |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
349.941 |
314.276 |
131.561 |
|
|
|
Other Earnings |
7.773 |
84.421 |
0.000 |
|
|
TOTAL EARNINGS |
357.714 |
398.697 |
131.561 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
254.186 |
139.471 |
283.422 |
|
|
|
Stores & Spares |
6.671 |
1.488 |
13.682 |
|
|
|
Capital Goods |
2.828 |
6.204 |
77.284 |
|
|
TOTAL IMPORTS |
263.685 |
147.163 |
374.388 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
(146) |
(339) |
(1244) |
|
KEY RATIOS
|
PARTICULARS |
|
31.12.2010 |
31.12.2009 |
31.12.2008 |
|
PAT / Total Income |
(%) |
(22.90) |
(36.77) |
(131.55) |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
(24.10) |
(40.48) |
(133.72) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(9.78) |
(14.44)
|
(27.73) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(1.32) |
(0.91)
|
(2.84) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
12.75 |
5.31
|
9.33 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.08 |
1.46
|
1.32 |
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 |
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 |
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 |
No |
|
24] |
Banking facility details |
No |
|
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 |
Yes |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
No |
NOTE
The Registered Office of the company has been shifted from 240B
REVIEW OF THE YEAR'S
OPERATIONS
During the year, the Company registered a turnover of Rs.566.610 millions, as against Rs. 560.710 Millions achieved in the previous year. Authorized share capital was increased to Rs.1500.000 Millions on 18th January 2010 so as to allot equity shares at par to Triumph Universa AG, the holding company. Upon receipt of Rs. 100 Millions by the company, 100,000 equity shares were allotted at par to Triumph Universa AG on 29th march 2011 and the Paid-up Share capital of the company was increased to Rs. 1069.000 Millions.
CONTINGENT
LIABILITIES
|
Particulars |
Rs. In Millions 31.03.2010 |
|
Bank Guarantee Given to Government authorities. |
35.300 |
|
Total |
35.300 |
FIXED ASSETS:
·
·
Leasehold Improvement
·
Computers
·
Office Equipment
·
Furniture and Fixtures
·
Shop and Counter Store
·
Motor Vehicles
·
Plant and Machinery
·
Buildings
·
Electrical Fitting
·
Shop and Counter Store
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 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. 53.63 |
|
|
1 |
Rs. 86.18 |
|
Euro |
1 |
Rs. 69.74 |
INFORMATION DETAILS
|
Information Gathered
by : |
PJA |
|
|
|
|
Report Prepared
by : |
UDS |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
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 |
3 |
|
--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 |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
26 |
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.