|
Report Date : |
18.04.2013 |
IDENTIFICATION DETAILS
|
Name : |
DELHI INTERNATIONAL AIRPORT PRIVATE LIMITED |
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Registered Office : |
New Udaan Bhawan, Terminal 3, Opposite Indira Gandhi International
Airport, New Delhi-110037 |
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Country : |
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Financials (as on) : |
31.03.2011 |
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Date of Incorporation : |
01.03.2006 |
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Com. Reg. No.: |
55-146936 |
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Capital
Investment / Paid-up Capital : |
Rs. 24500.000 Millions |
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CIN No.: [Company
Identification No.] |
U63033DL2006PTC146936 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
DELD08985E |
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PAN No.: [Permanent
Account No.] |
AACCD3570F |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Providing of Airport maintenance services and repairing services. |
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No. of Employees : |
Not Available |
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RATING & COMMENTS
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MIRA’s Rating : |
B (31) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
USD 83280000 |
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Status : |
Moderate |
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Payment Behaviour : |
Unknown |
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Litigation : |
Exist |
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Comments : |
Subject is an established company having a moderate track record.
Latest financial are missing from the government department. As per previous year
financials there seems some accumulated losses recorded by the company.
However, trade relations are reported as fair. Business is active. Payment
terms are unknown. The company can be considered for business dealings with some caution.
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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 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
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Rating |
A3+ (Other Proposed Limit) |
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Rating Explanation |
Moderate of safety. It carry moderate credit risk |
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Date |
April 2011 |
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Rating Agency Name |
ICRA |
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Rating |
BBB (Cash Credit) |
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Rating Explanation |
Moderate degree of safety. It carry moderate credit risk. |
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Date |
April 2011 |
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 : |
New Udaan Bhawan, Terminal 3, Opposite Indira Gandhi International
Airport, New Delhi-110037, India |
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Tel. No.: |
91-11-47197001 |
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Fax No.: |
91-11-47197034 |
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E-Mail : |
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Website : |
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Corporate Office : |
GMR Group, IBC Knowledge Park, Phase 2, "D"
Block, 9th Floor, 4/1, Bannerghatta Road, Bangalore - 560 029, Karnataka,
India |
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Tel No.: |
91-80-40432180 |
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Fax No.: |
91-80-40432000 |
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E-Mail : |
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Branches : |
Located At : ·
New Delhi ·
Himachal
Pradesh ·
Bhubaneswar ·
Orissa ·
Uttarakhand ·
Chandigarh ·
Maharashtra ·
Karnataka ·
Tamil Nadu · Andhra Pradesh |
DIRECTORS
AS ON 24.08.2012
|
Name : |
Mr. Grandhi Mallikarjuna Rao |
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Designation : |
Chairman |
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Address : |
No.486/76, 38th Cross, 1st Main, 8th
Block, Jayanagar, Bangalore – 560082, Karnataka, India |
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Date of Birth/Age : |
01.07.1949 |
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Date of Appointment : |
19.04.2006 |
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DIN No.: |
00574243 |
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Name : |
Mr. Kiran Kumar Grandhi |
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Designation : |
Director |
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Address : |
No.486/76, 38th Cross, 1st Main, 8th
Block, Jayanagar, Bangalore – 560082, Karnataka, India |
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Date of Birth/Age : |
13.09.1975 |
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Date of Appointment : |
19.04.2006 |
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DIN No.: |
00061669 |
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Name : |
Mr. Srinivas Bommidala |
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Designation : |
Director |
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Address : |
No. 309, 3rd Cross, 2nd Stage, Devasandra, RMV
Extension, Bangalore – 560094, Karnataka, India |
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Date of Birth/Age : |
01.03.1963 |
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Date of Appointment : |
19.04.2006 |
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DIN No.: |
00061464 |
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Name : |
Mr. Narayana Rao Kada |
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Designation : |
Director |
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Address : |
104 Durga Vihar, Gunnrock Avenue, Secunderabad – 500015, Andhra
Pradesh, India |
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Date of Birth/Age : |
01.04.1955 |
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Date of Appointment : |
17.04.2007 |
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DIN No.: |
00016262 |
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Name : |
Mr. Grandhi Butchi Sanyasi Raju |
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Designation : |
Director |
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Address : |
No.486/76, 38th Cross, 1st Main, 8th
Block, Jayanagar, Bangalore – 560082, Karnataka, India |
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Date of Birth/Age : |
26.01.1974 |
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Date of Appointment : |
19.04.2006 |
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DIN No.: |
00061686 |
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Name : |
Mr. Subba Rao Gunuputi |
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Designation : |
Director |
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Address : |
D-168, 1st Floor, Defence Colony, New Delhi – 110024,
Delhi, India |
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Date of Birth/Age : |
15.11.1951 |
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Date of Appointment : |
19.04.2006 |
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DIN No.: |
00064511 |
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Name : |
Mr. Ravela Sri Satya Lakshami Narasimha Bhaskarudu |
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Designation : |
Director |
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Address : |
H. No.2210, Sector D, Pocket – 2, Vasant Kunj, New Delhi, India |
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Date of Birth/Age : |
01.07.1940 |
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Date of Appointment : |
18.03.2009 |
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DIN No.: |
00058527 |
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Name : |
Mr. Bashir Ahmed Bin Abdul Majid |
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Designation : |
Director |
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Address : |
No.17, Jalan Pju, 3/416 C, Damansara Indah, resort Homes, Petaling
Jaya, Selangor, Malaysia – 47410 |
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Date of Birth/Age : |
20.06.1946 |
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Date of Appointment : |
19.04.2006 |
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DIN No.: |
01563213 |
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Name : |
Mr. Christoph Hans Nanke |
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Designation : |
Director |
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Address : |
Bebheimer Garden 7, Trebur, Germany-65468 |
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Date of Birth/Age : |
05.08.1966 |
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Date of Appointment : |
18.03.2009 |
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DIN No.: |
01710668 |
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Name : |
Mr. Alok Sinha |
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Designation : |
Director |
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Address : |
20B, Sector 14-A, Noida, Uttar Pradesh, India |
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Date of Birth/Age : |
15.10.2009 |
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Date of Appointment : |
15.10.2009 |
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DIN No.: |
02669682 |
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Name : |
Mr. Sudhir Raheja |
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Designation : |
Director |
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Address : |
E-8, Bali Nagar, New Delhi-110015, India |
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Date of Birth/Age : |
16.06.1958 |
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Date of Appointment : |
25.10.2010 |
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DIN No.: |
02745768 |
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Name : |
Mr. Vedamuthu Somasundaram |
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Designation : |
Director |
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Address : |
Flat No.5025, Sector B, Pocket 7, Vasantkunj, New Delhi-110017, India |
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Date of Birth/Age : |
03.09.1955 |
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Date of Appointment : |
01.06.2011 |
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DIN No.: |
03574882 |
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Name : |
Mr. Faizah Binti Khairuddin |
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Designation : |
Alternate Director |
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Address : |
No.3, Jalan Bidai U8/13E, Bukit Jelutong, Shah Alam, Selangor-40150,
Malaysia |
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Date of Birth/Age : |
20.09.1967 |
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Date of Appointment : |
15.10.2009 |
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DIN No.: |
02768997 |
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Name : |
Mr. Bangaru Raju Obbilisetty |
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Designation : |
Director |
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Address : |
No.249, 4th Cross, 6th Main, 4th
Phase, J. P. Nagar Dollars Colony, Bengaluru-560078, Karnataka, India |
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Date of Birth/Age : |
21.12.1956 |
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Date of Appointment : |
16.09.2007 |
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DIN No.: |
00082228 |
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Name : |
Mr. Ansgar Sickert |
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Designation : |
Director |
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Address : |
K-80, Hauz Khas Enclave, New Delhi, India |
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Date of Birth/Age : |
22.10.1966 |
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Date of Appointment : |
18.03.2009 |
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DIN No.: |
02290086 |
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Name : |
Mr. Suresh Krishan Goyal |
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Designation : |
Director |
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Address : |
2901, 29, Aqua Planet Godrej030, K Khadye Marg, S G M CHK, Mahalaxmi,
Mumbai-400011, Maharashtra, India |
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Date of Birth/Age : |
05.07.1968 |
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Date of Appointment : |
10.05.2012 |
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DIN No.: |
02721580 |
KEY EXECUTIVES
|
Name : |
Mr. Gadi Radhakrishna Babu |
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Designation : |
Secretary |
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Address : |
1-4-61/2, Street No.8, Habshiguda, Hyderabad-500007, Andhra Pradesh,
India |
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Date of Birth/Age : |
13.02.1960 |
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Date of Appointment : |
23.01.2012 |
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PAN No.: |
ACAPG2146H |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 24.08.2012
|
Names of Shareholders |
No. of Shares |
|
GMR Infrastructure Limited, Karnataka |
245000000 |
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GMR Energy Limited, Karnataka |
245000000 |
|
GMR Airports Limited, Karnataka |
833000000 |
|
Airports Authority of India, Delhi |
637000000 |
|
Fraport A G Frankfurt Airport Services Worldwide, Germany |
245000000 |
|
Malaysiya Airports (Mauritius) Private Limited, Mauritius |
245000000 |
|
TOTAL
|
2450000000 |
AS ON 24.08.2012
|
Equity Shares
Break Up |
Percentage of
Holding |
|
Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s),
Non-resident Indian(s) or Overseas Corporate bodies or Others |
20.00 |
|
Bodies corporate |
80.00 |
|
TOTAL |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Providing of Airport maintenance services and repairing services. |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
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Bankers : |
·
Axis Bank Limited, Central Office, Capital
Markets Department, 11th Floor, F Wing, Maker Tower, Cuffe Parade,
Mumbai-400005, Maharashtra, India ·
Canara Bank, Prime Corporate Branch, No.1, DDA
Building, 1st Floor, Nehru Place, New Delhi-110019, India ·
Central Bank of India, Corporate Finance Branch,
75, 1st Floor, Bridge Road, Bangalore-560025, Karnataka, India ·
ICICI Bank Limited, ICICI Bank Towers, Bandra
Kurla Complex, Mumbai-400051, Maharashtra, India |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
Brahmayya And Company Chartered Accountant |
|
Address : |
‘Khivraj Mansion’, 10/2, Kasturba Road, Bangalore-560001, Karnataka,
India |
|
PAN No.: |
AAAFB9147R |
|
|
|
|
Name : |
S.R. Batlliboi and Associates Chartered Accountant |
|
Address : |
6th Floor, H T House, 18-20, Kasturba Gandhi Marg, New
Delhi – 110001, Delhi, India |
|
Tel. No.: |
91-40-66246600 |
|
PAN No.: |
AABFS3421N |
|
|
|
|
Holding Company : |
Gmr Infrastructure
Limited CIN No.:-
L45203KA1996PLC034805 |
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|
|
|
Enterprises which are Joint Ventures Company : |
Travel Food
Services (Delhi Terminal 3) Private Limited CIN No.:-
U55101DL2009PTC196639 Devyani Food
Street Private Limited CIN No.:-
U55101DL2009PTC193995 Delhi Select
Service Hospitality Private Limited CIN No.:-
U55101DL2009PTC192897 Delhi Duty Free
Services Private Limited CIN No.:-
U52599DL2009PTC191963 Wipro Airport IT
Services Limited CIN No.:-
U72200KA2009PLC051272 Delhi Airport
Parking Services Private Limited CIN No.:-
U63030DL2010PTC198985 TIM Delhi
Airport Advertising Private Limited CIN No.:-
U74999DL2010PTC203419 Celebi Delhi
Cargo Terminal Management India Private Limited CIN No.:- U74900DL2009FTC191359 Delhi Cargo
Service Center Private Limited CIN No.:- U74900DL2009PTC196125 Delhi Aviation
Services Private Limited CIN No.:- U24233DL2007PTC165308 |
|
|
|
|
Subsidiaries : |
Delhi Aerotropolis Private Limited CIN No.:- U45400DL2007PTC163751 East Delhi Waste Processing Company Private Limited CIN No.:- U37100DL2005PTC135148 Delhi Aviation
Fuel Facility Private Limited CIN No.:- U74999DL2009PTC193079 |
CAPITAL STRUCTURE
AS ON 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3000000000 |
Equity Shares |
Rs.10/- each |
Rs. 30000.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2450000000 |
Equity Shares |
Rs.10/- each |
Rs.
24500.000 Millions |
|
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|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
24500.000 |
12000.000 |
12000.000 |
|
|
2] Share Application Money |
0.000 |
12500.000 |
12500.000 |
|
|
3] Reserves & Surplus |
0.000 |
823.900 |
625.0000 |
|
|
4] (Accumulated Losses) |
(3678.100) |
0.000 |
0.000 |
|
|
NETWORTH |
20821.900 |
25323.900 |
25125.000 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
60585.300 |
66389.200 |
34276.300 |
|
|
2] Unsecured Loans |
27297.600 |
19349.800 |
7153.900 |
|
|
TOTAL BORROWING |
87882.900 |
85739.000 |
41430.200 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
275.600 |
303.000 |
|
|
|
|
|
|
|
|
TOTAL |
108704.800 |
111338.500 |
66858.200 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
102852.800 |
28891.400 |
21230.500 |
|
|
Capital work-in-progress |
1955.800 |
73336.800 |
43583.700 |
|
|
|
|
|
|
|
|
INVESTMENT |
3011.000 |
9429.200 |
555.600 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
27.200
|
47.100 |
42.200 |
|
|
Sundry Debtors |
2169.900
|
1761.100 |
786.300 |
|
|
Cash & Bank Balances |
2900.900
|
1465.900 |
330.300 |
|
|
Other Current Assets |
8219.900
|
1373.900 |
764.000 |
|
|
Loans & Advances |
4290.200
|
4123.200 |
2280.000 |
|
Total
Current Assets |
17608.100
|
8771.200 |
4202.800 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
10326.500
|
2858.200 |
1901.400 |
|
|
Other Current Liabilities |
4978.700
|
4488.800 |
787.900 |
|
|
Provisions |
1417.700
|
1743.100 |
25.100 |
|
Total
Current Liabilities |
16722.900
|
9090.100 |
2714.400 |
|
|
Net Current Assets |
885.200
|
(318.900) |
1488.400 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
108704.800 |
111338.500 |
66858.200 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income From Services |
12431.500 |
11532.700 |
9476.200 |
|
|
|
Other Income |
185.200 |
185.600 |
104.800 |
|
|
|
Annual Fee to Airport Authority of India |
(5772.700) |
(5389.200) |
(4406.300) |
|
|
|
TOTAL (A) |
6844.000 |
6329.100 |
5174.700 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Personnel Expenses |
1393.400 |
1016.600 |
2052.600 |
|
|
|
Operating Expenses |
2776.500 |
1835.000 |
1458.200 |
|
|
|
Administration and Other Expenses |
1450.800 |
849.900 |
942.300 |
|
|
|
TOTAL (B) |
5620.700 |
3701.500 |
4453.100 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
1223.300 |
2627.600 |
721.600 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
3317.300 |
1292.900 |
538.700 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
(2094.000) |
1334.700 |
182.900 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
2683.600 |
1166.400 |
525.200 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
(4777.600) |
168.300 |
(342.300) |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
(275.600) |
(30.600) |
(107.400) |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
(4502.000) |
198.900 |
(234.900) |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
823.900 |
625.000 |
859.900 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
(3678.100) |
823.900 |
625.000 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Aeronautical Income |
20.200 |
26.100 |
27.000 |
|
|
|
Revenue from Concessionaires |
773.200 |
987.900 |
847.300 |
|
|
TOTAL EARNINGS |
793.400 |
1014.000 |
874.300 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Capital Goods |
330.800 |
1192.000 |
737.900 |
|
|
TOTAL IMPORTS |
330.800 |
1192.000 |
737.900 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
(3.57) |
0.17 |
(0.33) |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
(65.78)
|
3.14 |
(4.54) |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
(38.43)
|
1.46 |
(3.61) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(3.97)
|
0.45 |
(1.35) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.24)
|
0.01 |
(0.01) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
4.22
|
3.39 |
1.65 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.05
|
0.96 |
1.55 |
LOCAL AGENCY FURTHER INFORMATION
COURT
CASE
|
IN THE HIGH
COURT OF DELHI AT NEW DELHI
|
|
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 |
Yes |
|
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 |
Yes |
|
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 |
No |
|
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 |
NATURE OF OPERATIONS
Subject was
incorporated on March 1, 2006 for managing the operations and modernization of
the Indira Gandhi International Airport (‘Delhi Airport’). GMR Infrastructure Limited
along with its subsidiaries holds majority shareholding of the Company. DIAL
had entered into Operation, Management and Development Agreement (‘OMDA’) with
Airports Authority of India (‘AAI’), which gives DIAL an exclusive right to
operate, maintain, develop, modernise and manage the Delhi Airport on a revenue
sharing model for an initial term of 30 years, which can be extended by another
30 years on satisfaction of certain terms and conditions pursuant to the
provisions of OMDA.
FINANCE
The total debt for
the project comprises of Rupee Term Loan to the extent of Rs.36500.000
Millions, ECB of US$ 350 million equivalent to Rs.16160.000 Millions and first
phase of Development Fees (DF) of Rs.18270.000 Millions. The Company has
concluded the entire disbursements for the project except the proposed
Additional Development Fees of Rs.17930.000 Millions which is pending with
Airports Economic Regulatory Authority of India (AERA) for approval. The
Company has availed short term loans to the extent of Rs.4500.000 Millions
pending approval and securitization of Additional Development Fees of
Rs.17930.000 Millions. In March’2011, the Company allotted 125 Crore Equity
Shares of Rs.10/- each, at par to the shareholders of the Company on rights
basis, against the shareholders advance of Rs.12500.000 Millions, thereby
increasing the paid up share capital to Rs.24500.000 Millions.
Three Public
Interest Litigation’s (PIL’s) were filed in Delhi High Court challenging the levy
of DF by the Company which were later dismissed by Hon’ble High Court of Delhi.
The matter went in appeal before Supreme Court and on April 26, 2011, the
Hon’ble Supreme Court passed its judgment on the matter and allowed the appeals
with some directions. In terms of the judgment, the Company has to account to
the Airports Authority of India (AAI) the DF collected till April 26, 2011 and
AAI would ensure that the DF levied and collected by the Company has been
utilized purely for the purpose of financing the costs of up gradation,
expansion or development of IGI Airport. It was further directed that any DF
that may be levied and collected by the Company after April 26, 2011 under the
authority of order passed by AERA, shall be credited to the AAI and would be
utilized for the purpose of financing the costs of up gradation, expansion or
development of IGI Airport or other specified purposes under Section 22A of the
Airports Authority of India Act, 1994 in the manner to be prescribed by the
rules which should be made as early as possible.
Further, in
response to a PIL challenging the Public Notice dated April 23, 2010 issued by
AERA, Hon’ble High Court of Delhi passed an Order on June 1, 2011, which held
that:
AERA’s Public
Notice dated April 23, 2010 allowing levy and collection of DF was only an
ad-hoc order/direction
Petitioners had
adequate and efficacious alternative remedy to appeal before the AERA Appellate
Tribunal under Section 18(2) of the AERA Act.
Till the
application for stay is dealt with by the AERA Appellate Tribunal, the Public
Notice dated April 23, 2010 shall not be given effect to (i.e. no levy and
collection of DF from embarking passengers at IGI Airport from June 1, 2011).
SUBSIDIARIES
The Company had
two subsidiaries as on March 31, 2011 - Delhi Aerotropolis Private Limited and
East Delhi Waste Processing Company Private Limited. During the year, DIAL
Cargo Private Limited (now Delhi Aviation Services Private Limited) ceased to
be the subsidiary of the Company.
Delhi Aerotropolis
Private Limited
During the year,
Delhi Aerotropolis Private Limited, has not undertaken any activity.
East Delhi Waste
Processing Company Private Limited
East Delhi Waste
Processing Company Private Limited (EDWPCL) was incorporated as a special
purpose vehicle for establishment of 10 MW power project using 1300 tons of
city garbage coming up at Ghazipur, National Capital Territory of Delhi.
However, based on
the review of the technical teams on the project, the management of EDWPCL was
of the opinion that due to various constraints associated with the project, it
was coherent to exit from the aforesaid project in accordance with the terms of
the bid documents with no loss or with least possible loss.
The Company had
signed a Project Implementation and Shareholders Agreement and Share Purchase
Agreement in October’ 2010, interalia with IL and FS Energy Development Company
Limited (IL and FS), to divest Company‘s equity shareholding in East Delhi
Waste Processing Company Private Limited (EDWPCL) in one more tranches in
accordance with the terms of the transaction/bid documents. The management and
execution of the project would now be undertaken by IL and FS.
JOINT VENTURES
For providing better
services to the passengers through a superior control over the business
operations, and also for maximizing the value, the Company has joined as a
Joint Venture (JV) Partner for key business areas like Duty Free, Cargo, Food
and Beverage, IT services, Vehicle Parking Facilities, Fuel Farm, Advertisement
and Bridge Mounted Equipments. Accordingly, the Company has taken equity stake
ranging from 26% to 50% depending on the nature and size of the business, in
the 11 JVs floated for the above said businesses. So far, the Company has
invested about Rs.1820.000 Millions towards Equity Capital / Share Application
money in the said 11 JVs. One of the Cargo JVs, i.e. Celebi Delhi Cargo
Terminal Management India Private Limited had already commenced the operations
of international cargo in November’2009. All other JVs commenced business
operations during the current financial year 2010-11.
FORM 8
|
Corporate
identity number of the company |
U63033DL2006PTC146936 |
|
Name of the
company |
DELHI INTERNATIONAL AIRPORT PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
New Udaan Bhawan, Terminal 3, Opposite Indira Gandhi International
Airport, New Delhi-110037, India |
|
This form is for |
Creation of
charge |
|
Type of charge |
·
Others DF Trust and
Retention Account |
|
Particular of
charge holder |
Central Bank of India, Corporate Finance Branch, 75, 1st
Floor, Bridge Road, Bangalore-560025, Karnataka, India |
|
Nature of instrument
creating charge |
Deed of
Hypothecation dated March 11, 2013, executed by Delhi International Airport
(Private) Limited (in its capacity as the borrower) in favor of DF Lenders
for creating a first charge on DF Trust and Retention Account and the amounts
lying in or to the credit of the DF Trust and Retention Account on pari passu
basis. |
|
Date of
instrument Creating the charge |
11.03.2013 |
|
Amount secured by
the charge |
Rs.3000.000
Millions |
|
Brief of the principal
terms an conditions and extent and operation of the charge |
Rate of interest -- Terms of repayment -- Margin Nil Extent and operation of the charge The Borrower
hereby Charges and Hypothecates in favor of DF Lenders by the way of Security
as first charge on pari-passu basis in TRA and on all receivables and all
monies under the financing documents, deposited in, credited to or lying to
the credit of to the TRA and all monies, cash flows, etc collected in the
form of DF. |
|
Short particulars
of the property charged (Including location of the property) |
The Borrower
hereby Charges and Hypothecates in favor of DF Lenders by the way of Security
as first charge on pari-passu basis in TRA and on all receivables and all
monies under the financing document deposited in, credited to or lying to the
credit of to the TRA and all monies, cash flows, etc collected in the form of
DF. |
FIXED ASSETS
· Buildings
· Plant and Machinery
· Office Equipments
· Furniture and Fixtures
· Vehicles
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. 53.92 |
|
|
1 |
Rs. 82.76 |
|
Euro |
1 |
Rs. 71.04 |
INFORMATION DETAILS
|
Report Prepared
by : |
DPT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
YES |
|
--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 |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
31 |
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.