MIRA
INFORM REPORT
|
Report Date : |
24.04.2013 |
IDENTIFICATION DETAILS
|
Name : |
DELL INDIA PRIVATE LIMITED |
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Formerly Known
As : |
DELL COMPUTER INDIA PRIVATE LIMITED |
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Registered
Office : |
Divyashree Greens, Ground Floor, SY Nos. 12/1, 12/2/A and 13/1A,
Ghallaghatta Village, Varthur Hobli, Bangalore – 560071, Karnataka |
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Country : |
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Financials (as
on) : |
31.03.2012 |
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Date of
Incorporation : |
27.11.2003 |
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Com. Reg. No.: |
08-032926 |
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Capital
Investment / Paid-up Capital : |
Rs. 25.000 Millions |
|
|
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|
CIN No.: [Company Identification
No.] |
U72900KA2003PTC032926 |
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|
TAN No.: [Tax Deduction &
Collection Account No.] |
BLRD02621D |
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PAN No.: [Permanent Account No.] |
AABCD8893L |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturing and Trading in Computer Systems including Desktops, Notebooks, Servers, Workstations, Storage and related software. |
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No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (54) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 6500000 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a part of Dell, USA. It is a well established and a reputed
company having a fine track record. It has incurred loss during 2012.
However, the financial strength of the company is strong. Trade relations are
reported to be decent. Business is active. Payments are reported to be
regular and as per commitments. The company can be considered good for business dealing at usual trade
terms and condition. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
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
Management non co-operative (91-80-25068026)
LOCATIONS
|
Registered Office : |
Divyashree Greens, Ground Floor, SY Nos. 12/1, 12/2/A and 13/1A,
Challaghatta Village, Varthur Hobli, Bangalore - 560071, Karnataka, India |
|
Tel. No.: |
91-80-25357311 / 41197969 |
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Fax No.: |
91-80-25357309/ 11 |
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E-Mail : |
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Website : |
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Factory : |
M 4, SIPCOT Industrial Park, Sunguvarchathiram Post
Sriperumbudur, Taluk, |
|
Tel. No.: |
91-44-27158037 |
DIRECTORS
As on 27.09.2012
|
Name : |
Mr. Janet Bawcom Wright |
|
Designation : |
Director |
|
Address : |
1314 Shahhon Oaks Trail, Austin, Texas – 78746, USA |
|
Date of Birth/Age : |
19.09.1964 |
|
Date of Appointment : |
15.04.2008 |
|
DIN No.: |
02159007 |
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|
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|
Name : |
Mr. Sameer Garde |
|
Designation : |
Director |
|
Address : |
Plat No. Divyasree Elan Clayton – 1001, Sarjapur Road, Bangalore –
560037, Karnataka, India |
|
Date of Birth/Age : |
09.10.1966 |
|
Date of Appointment : |
16.03.2012 |
|
DIN No.: |
02399137 |
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|
|
|
Name : |
Mr. Ravi Gopalakrishnan Bharadwaj |
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Designation : |
Whole-time director |
|
Address : |
Villa No. 4, Prestige Ozone, Whitefield Main Road, Bangalore – 560066,
Karnataka, India |
|
Date of Birth/Age : |
01.11.1967 |
|
PAN No.: |
AAPPB0770M |
|
Date of Appointment : |
23.06.2010 |
|
DIN No.: |
02758130 |
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|
|
|
Name : |
Mr. Maheshinder Singh Bhalla |
|
Designation : |
Whole-time director |
|
Address : |
C-106, St. Johns Wood Apartments, Thavareker Main Road, Koramangla,
Bangalore - 560029, Bangalore, India |
|
Date of Birth/Age : |
16.03.1972 |
|
PAN No.: |
AGSPB1907H |
|
Date of Appointment : |
27.12.2010 |
|
DIN No.: |
02759422 |
|
|
|
|
Name : |
Mr. Sriram Dhanyamraju |
|
Designation : |
Director |
|
Address : |
7031 Sobha Daffodil Somasundarapalya, Opposite DHL, 2MN 2 nd Sector
HSR Layout, Bangalore – 560084, Karnataka, India |
|
Date of Birth/Age : |
02.02.1963 |
|
Date of Appointment : |
01.06.2012 |
|
DIN No.: |
03258027 |
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|
|
|
Name : |
Mr. Sekhar Doraswamy |
|
Designation : |
Alternate director |
|
Address : |
3418, 3rd Cross Off Watra Tank Road, Indiranagar II Stage,
Bangalore – 560038, Karnataka, India |
|
Date of Birth/Age : |
21.12.1963 |
|
PAN No.: |
AAMPD9817C |
|
Date of Appointment : |
27.12.2010 |
|
DIN No.: |
03353341 |
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|
|
|
Name : |
Mr. Ramesh Babu Sathyaseelan |
|
Designation : |
Whole-time director |
|
Address : |
No. 93/8, Old Post Office, Pillanna Garden, 3rd Stage Lingarajpuram,
Bangalore – 560084, Karnataka, India |
|
Date of Birth/Age : |
17.05.1969 |
|
Date of Appointment : |
24.11.2011 |
|
DIN No.: |
05102809 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 27.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
Dell International |
|
2499999 |
|
Dell International |
|
1 |
|
Total |
|
2500000 |
As on 27.09.2012
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s),
Non-resident Indian(s) or Overseas Corporate bodies or Others |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing and Trading in Computer Systems including Desktops,
Notebooks, Servers, Workstations, Storage and related software. |
PRODUCTION STATUS (AS ON 31.03.2011)
|
Particulars |
Unit |
Installed
Capacity |
Actual
Production |
|
Computer Systems |
Nos. |
2001000 |
1454270 |
Notes:
(i) The Company is
exempt from the licensing provisions of the Industries (Development Regulation)
Act, 1951.
(ii) Installed capacity,
as certified by the management, is arrived at on a single shift basis and
relied upon by auditors, this being a technical matter.
GENERAL INFORMATION
|
No. of Employees : |
Information declined by the management |
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|
Bankers : |
Not Divulged |
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
Price Waterhouse and Company Chartered Accountants |
|
Address : |
5th Floor, Tower D, The Millenia, 1 and 2 Murphy Road,
Ulsoor, Bangalore-560008, Karnataka, India |
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PAN.: |
AADFP9359C |
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Ultimate Holding
company: |
Dell Inc, USA |
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Holding company: |
Dell International Inc., USA |
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Fellow Subsidiaries
: |
· Dell Asia Pacific Sdn., Malaysia (DAP) · Dell International Services India Private Limited, India (DIS) · Dell (China) Company Limited, China (DCC) · Dell Australia Pty Limited, Australia · Dell Global B.V., Netherlands (DGBV) · Dell (Xiamen) Company Limited, China (DXC) · Dell Corporation Limited (UK) · Dell Computadores Do Brasil Ltda, Brazil · Dell India (Sales and Marketing) Private Limited ·
Force10 Networks India Private Limited. |
CAPITAL STRUCTURE
As on 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2500000 |
Equity Shares |
Rs.10/- each |
Rs. 25.000 Millions |
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|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2500000 |
Equity Shares |
Rs.10/- each |
Rs.25.000 Millions |
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|
|
|
|
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 |
25.000 |
25.000 |
25.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
1621.000 |
1996.000 |
1099.706 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
1646.000 |
2021.000 |
1124.706 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
0.000 |
1000.000 |
3100.000 |
|
|
TOTAL BORROWING |
0.000 |
1000.000 |
3100.000 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
1646.000 |
3021.000 |
4224.706 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
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|
|
|
|
|
|
|
|
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|
FIXED ASSETS [Net Block] |
907.000 |
899.000 |
1001.166 |
|
|
Capital work-in-progress |
18.000 |
46.000 |
0.845 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
1108.000 |
409.000 |
296.812 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
5417.000
|
5885.000 |
3864.094
|
|
|
Sundry Debtors |
9520.000
|
8528.000 |
10521.626
|
|
|
Cash & Bank Balances |
5454.000
|
4562.000 |
4861.659
|
|
|
Other Current Assets |
180.000
|
157.000 |
102.663
|
|
|
Loans & Advances |
3965.000
|
3349.000 |
10406.263
|
|
Total
Current Assets |
24536.000
|
22481.000 |
29756.305 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
15985.000
|
12976.000 |
13769.831
|
|
|
Other Current Liabilities |
7287.000
|
6475.000 |
11317.758
|
|
|
Provisions |
1651.000
|
1363.000 |
1742.833
|
|
Total
Current Liabilities |
24923.000
|
20814.000 |
26830.422 |
|
|
Net Current Assets |
(387.000)
|
1667.000 |
2925.883
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
1646.000 |
3021.000 |
4224.706 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
65891.000 |
42247.906 |
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL |
70842.000 |
65891.000 |
42247.906 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
68614.000 |
64510.000 |
39707.525 |
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
68614.000 |
64510.000 |
39707.525 |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX AND EXCEPTIONAL AND PRIOR PERIOD ITEMS |
2228.000 |
1381.000 |
2540.381 |
|
|
|
|
|
|
|
|
|
Less/ Add |
EXCEPTIONAL AND
PRIOR PERIOD ITEMS |
2702.000 |
15.000 |
13.267 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX |
(474.000) |
1366.000 |
2527.114 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
(99.000) |
470.000 |
276.188 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX |
(375.000) |
896.000 |
2250.926 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
1995.706 |
1099.706 |
(1151.220) |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
1620.706 |
1995.706 |
1099.706 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Income from Support Services |
509.000 |
428.000 |
266.791 |
|
|
|
Sale of Manufactured and Traded Items |
14566.000 |
11530.000 |
5883.857 |
|
|
|
Reimbursement of expenses received in foreign currency |
1157.000 |
1087.000 |
0.000 |
|
|
TOTAL EARNINGS |
16232.000 |
13045.000 |
6150.648 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials and Components |
NA |
40992.380 |
24544.927 |
|
|
|
Traded Items |
NA |
18597.116 |
6456.893 |
|
|
|
Capital Goods |
NA |
76.316 |
70.018 |
|
|
TOTAL IMPORTS |
NA |
59665.812 |
31071.838 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
(150.00) |
358.41 |
900.37 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
(0.53)
|
1.35 |
5.33
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(1.86)
|
5.84 |
8.22
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.29)
|
0.68 |
2.25
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.00
|
0.49 |
2.76
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.98
|
1.08 |
1.11
|
LOCAL AGENCY FURTHER INFORMATION
DETAILS OF SUNDRY
CREDITORS
Rs.
In Millions
|
Particular |
|
31.03.2011 |
31.03.2010 |
|
Creditors due small micro enterprises |
15985.000 |
12976.000 |
7.037 |
|
Creditors due others |
|
|
13762.794 |
|
Total |
15985.000
|
12976.000 |
13769.831
|
|
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) |
No |
|
21] |
Market information |
---------------------- |
|
22] |
Litigations that the firm / promoter involved in |
---------------------- |
|
23] |
Banking Details |
No |
|
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 |
Yes |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
No |
OPERATIONS REVIEW
During the year, the Company has achieved a total income of
Rs. 70842.000 Millions as against Rs. 65891.000 Millions during previous financial
year and has incurred a net loss after tax of Rs. 375.000 Millions as against a
net profit after tax of Rs. 896.000 Millions during the previous financial
year.
UNSECURED LOAN
(Rs.
In Millions)
|
Particular |
As
on 31.03.2012 |
As
on 31.03.2011 |
|
Long Term
Borrowing |
|
|
|
Loans and advances from related parties |
0.000 |
1000.000 |
|
Total |
0.000 |
1000.000 |
|
Loan from fellow subsidiary represents loan from Dell International Services India Private limited (formerly known as Perot systems TSI (India) Private limited) fellow subsidiary @ 8.5%interest per annum. The loan was repayable in January 2015 but has been repaid by the company during the year. |
||
CONTINGENT
LIABILITIES
(Rs.
in millions)
|
Particulars |
31.03.2012 |
31.03.2011 |
|
Claims against the Company not acknowledge
as debts |
33.000 |
9.000 |
|
Value Added Tax |
937.000 |
988.000 |
|
Service Tax Matters |
2407.000 |
781.000 |
|
Income Tax |
149.000 |
0.000 |
Notes:
i) Relates to various demands from the Sales-tax department for the period from 2005-06 to 2008-09, which are disputed by the Company. The Company has paid Rs.462.000 Millions (2011: Rs.22.000 Millions) under protest. The above amount includes penalty of Rs.51.000 Millions (2011: Rs.909.000 Millions) and interest estimated at Rs.373.000 Millions (2011: Rs.5.000 Millions).
ii) Relates to various demands from the Service-tax department for the period from 2004-05 to 2009-10, which are disputed by the Company. The Company has paid Rs.40.000 Millions (2011: Rs.15.000 Millions) under protest. The above amount includes penalty of Rs. 1012.000 Millions (2011: Rs.259.000 Millions) and interest estimated at Rs.397.000 Millions (2011: Rs.135.000 Millions)
iii) Does not include corporate guarantee given by the Company for Rs.833.000 Millions (2011: Rs.833.000 Millions) to The State Industries Promotion Corporation of Tamil Nadu Limited (SIPCOT).
FIXED ASSETS:
· Building
· Leasehold Land
· Leasehold Improvements
· Computer Systems
· Machinery and Equipment
· Furniture and Fixtures
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.54.30 |
|
|
1 |
Rs.82.88 |
|
Euro |
1 |
Rs.70.80 |
INFORMATION DETAILS
|
Information Gathered
by : |
SVA |
|
|
|
|
Report Prepared
by : |
NTH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
8 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--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 |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
54 |
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.