MIRA
INFORM REPORT
|
Report Date : |
25.04.2013 |
IDENTIFICATION DETAILS
|
Name : |
HITEN FASTENERS PRIVATE LIMITED |
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|
|
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Registered
Office : |
No.25A, Doddanakkundi, Industrial Area, Mahadevapura Post,
Bangalore-560048, Karnataka |
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Country : |
India |
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Financials (as
on) : |
31.03.2012 |
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Date of
Incorporation : |
21.11.1983 |
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Com. Reg. No.: |
08-005693 |
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Capital
Investment / Paid-up Capital : |
Rs. 26.510 millions |
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CIN No.: [Company Identification
No.] |
U28112KA1983PTC005693 |
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|
Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer of Fasteners. |
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No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 390000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having a satisfactory track record. Trade relations are reported as fair. Business is active. Payment
terms are usually correct and as per commitment. The company can be considered for business dealings at usual trade
terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – June 30, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
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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 |
|
Rating |
SE 2A |
|
Rating Explanation |
High financial strength and high performance capability |
|
Date |
04.07.2012 |
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.
LOCATIONS
|
Registered Office /
Corporate Office : |
No.25A, Doddanakkundi, Industrial Area, Mahadevapura Post, Bangalore-560048, Karnataka, India |
|
Tel. No.: |
91-80-28543651 / 40978259 |
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Fax No.: |
91- 80-28543652 / 28524138 |
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E-Mail : |
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Website : |
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Wind Mill Fasteners
: |
Plot No 7-B, Somanahalli industrial Area, Maddur -571289, Mandya District, Karnataka, India |
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Fax No.: |
91-823-2236381 |
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E-Mail : |
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Hydro power and Metro
Rail : |
Plot No 18, Somanahalli Industrial Area, Maddur - 571289, Mandya District, Karnataka, India |
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Fax No.: |
91-823-2236381 |
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E-Mail : |
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Raw Material Yard : |
Plot No 17P/18 P, Somanahalli Industrial Area, Maddur 571289, Mandya District, Karnataka, India |
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Fax No.: |
91-823-2236381 |
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E-Mail : |
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Earth Moving and
Heavy Engineering : |
Plot No 30/A2, Hoskote Industrial Area, Hoskote 562114, Bangalore, Karnataka, India |
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Fax No.: |
91-80-27971639 |
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E-Mail : |
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Valve Industries
and Projects : |
Plot No 17G, Hoskote Industrial area, Hoskote 562114, Bangalore, Karnataka, India |
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Fax No.: |
91- 80-27971639 |
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E-Mail : |
DIRECTORS
As on 28.09.2012
|
Name : |
Rajendra Prasad Sharma |
|
Designation : |
Whole-time Director |
|
Address : |
No.1104, 19th B Main, JP Nagar, 2nd Phase,
Bangalore-560078, Karnataka, India |
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Date of Birth/Age : |
15.08.1952 |
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Date of Appointment : |
01.04.1994 |
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DIN No.: |
00528496 |
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Name : |
Balakrishnan Saikumar |
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Designation : |
Managing Director |
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Address : |
No.733, C Block, 2nd Main, AECS Layout, Kundalahalli,
Marathalli Post, Bangalore-560037, Karnataka, India |
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Date of Birth/Age : |
05.01.1955 |
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Date of Appointment : |
10.10.1991 |
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DIN No.: |
01075217 |
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|
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Name : |
Balakrishnan Ramanatha Iyer |
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Designation : |
Whole-time Director |
|
Address : |
No.31, 2nd Main, Rameshnagar, Bangalore-560037, Karnataka,
India |
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Date of Birth/Age : |
27.01.1927 |
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Date of Appointment : |
12.05.1986 |
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DIN No.: |
01360862 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 28.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
Sai Kumar B |
|
1218996 |
|
Bhanumathi Sai Kumar |
|
143600 |
|
Rajendra Prasad Sharma |
|
256700 |
|
Premalatha Sharma |
|
160000 |
|
Jitendra Kumar Sharma |
|
172400 |
|
Ranjana Sharma |
|
88000 |
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Anirudh Das Gupta |
|
500 |
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Suryanarayana K |
|
25000 |
|
Karnataka OEM and Spares Private Limited, India |
|
380000 |
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Neelima Lasaria |
|
10000 |
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Rajendra Prasad Sharma HUF |
|
171304 |
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Gowrishankar Ramachandra Shastry Vellore |
|
7500 |
|
Nandakumar Krishnan |
|
1000 |
|
Sudhirkumar Pandey |
|
1000 |
|
Preethi Saikumar |
|
7500 |
|
Priya Saikumar |
|
7500 |
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Total |
|
2651000 |
Equity Share Break up (Percentage of Total Equity)
As on 28.09.2012
|
Category |
Percentage |
|
Bodies corporate |
14.00 |
|
Directors or relatives of Directors |
84.00 |
|
Other top fifty shareholders |
2.00 |
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Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Fasteners. |
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Products : |
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PRODUCTION STATUS AS ON 31.03.2011
|
Particulars |
Unit |
Licensed
Capacity |
Installed
Capacity |
Actual
Production |
|
Fasteners |
Nos. |
NA |
1,25,00,000 /
10,000 tones p.a |
4335763 |
|
Scraps |
Kgs. |
NA |
NA |
275343 |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
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Bankers : |
State Bank of India, SME Branch, ITI Ancillary Industrial Estate, Whitefield Road, Mahadevapura, Bangalore - 560048, Karnataka, India |
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Facilities : |
Note Term loan from a bank is secured by hypothecation of Plant and machinery purchased out of Bank Finance. The above loans are collaterally secured by way of equitable mortguage of an immovable property owned by a relative of Managing Director and personal guarantee of all directors and said relative of Managing Director The above loans are also collaterally secured by way of equitable mortguage of immovable properties owned by the Company. Working capital loan is secured by the hypothecation of Stocks, Receivables and other current assets. Interest rate is 14.75% as per the sanction letter. The repayment is on demand The above loans are collaterally secured by way of equitable mortguage of an immovable property owned by a relative of Managing Director and personal guarantee of all directors and said relative of Managing Director The above loans are also collaterally secured by way of equitable mortguage of immovable properties owned by the Company |
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Banking
Relations : |
-- |
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Financial
Institution : |
Karnataka State Financial Corporation, KR Road, Subodhnagar, Bangalore - 560048, Karnataka, India |
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Auditors : |
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Name : |
lshwar and Gopal Chartered Accountants |
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Address : |
Sri Vinayaka Building, 21/3, T.S.P Road, Kalasipalyam, Bangalore-
560002,
Karnataka, India |
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Tel. No.: |
91-80-26701694 / 26700009 |
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Fax No.: |
91-80-26706317 |
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E-Mail : |
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PAN No.: |
AAAFI2474E |
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Associates : |
·
Karnataka OEM and Spares Private Limited ·
Hiten Fasteners and Structurals ·
Modern Traders ·
Maruti Weaving (a proprietary concern of relative
of key management personnel) |
CAPITAL STRUCTURE
As on 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3000000 |
Equity Shares |
Rs.10/- each |
Rs. 30.000 Millions |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
|
|
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|
2651000 |
Equity Shares |
Rs.10/- each |
Rs. 26.510 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 |
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|
|
|
|
1] Share Capital |
26.510 |
26.510 |
26.510 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
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|
3] Reserves & Surplus |
70.455 |
68.481 |
67.866 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
96.965 |
94.991 |
94.376 |
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|
LOAN FUNDS |
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|
1] Secured Loans |
149.098 |
133.226 |
133.365 |
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2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
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TOTAL BORROWING |
149.098 |
133.226 |
133.365 |
|
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DEFERRED TAX LIABILITIES |
4.823 |
5.839 |
11.805 |
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|
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TOTAL |
250.886 |
234.056 |
239.546 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
117.545 |
117.325 |
121.680 |
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Capital work-in-progress |
4.194 |
2.174 |
6.089 |
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INVESTMENT |
0.000 |
0.000 |
0.000 |
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DEFERRED TAX ASSETS |
0.000 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
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Inventories |
76.899
|
64.060 |
60.255 |
|
|
Sundry Debtors |
112.503
|
108.136 |
97.643 |
|
|
Cash & Bank Balances |
7.308
|
8.159 |
6.397 |
|
|
Other Current Assets |
0.407
|
0.000 |
0.000 |
|
|
Loans & Advances |
39.118
|
22.798 |
20.765 |
|
Total
Current Assets |
236.235
|
203.153 |
185.060 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
48.844
|
41.025 |
41.299 |
|
|
Other Current Liabilities |
42.426
|
36.617 |
29.753 |
|
|
Provisions |
15.818
|
10.954 |
2.231 |
|
Total
Current Liabilities |
107.088
|
88.596 |
73.283 |
|
|
Net Current Assets |
129.147
|
114.557 |
111.777 |
|
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|
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
250.886 |
234.056 |
239.546 |
|
PROFIT & LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
|
431.400 |
|
327.100 |
|
|
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Other Income |
|
7.996 |
|
|
|
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TOTAL |
NA |
414.609 |
NA |
|
|
|
|
|
|
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Less |
EXPENSES |
|
|
|
|
|
|
|
|
NA |
411.466 |
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
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TOTAL |
NA |
411.466 |
NA |
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
2.210 |
3.143 |
4.890 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
NA |
2.325 |
NA |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
NA |
0.818 |
NA |
|
|
|
|
|
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|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Sale of Products |
46.376 |
0.000 |
NA |
|
|
|
Foreign exchange Gain (net) |
0.740 |
(0.062) |
NA |
|
|
TOTAL EARNINGS |
47.116 |
(0.062) |
NA |
|
|
|
|
|
|
|
|
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|
IMPORTS |
11.384 |
8.641 |
1.957 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
NA |
0.31 |
NA |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
NA
|
0.20 |
NA |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
0.51
|
0.77 |
1.49 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.62
|
0.98 |
1.59 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.02
|
0.03 |
0.05 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
1.54
|
1.40 |
1.41 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.21
|
2.29 |
1.16 |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info Agents |
Available in
Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
No |
|
9] |
Name of person contacted |
No |
|
10] |
Designation of contact
person |
No |
|
11] |
Turnover of firm for last
three years |
Yes |
|
12] |
Profitability for last
three years |
Yes |
|
13] |
Reasons for variation
<> 20% |
----- |
|
14] |
Estimation for coming
financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
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 |
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 |
CORPORATE
INFORMATION
Subject is a private limited company register and Incorporated in India
under the provisions of the companies Act, 1956. The company is primarily
engaged in the business of manufacturing of fasteners.
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate identity number of the company |
U28112KA1983PTC005693 |
|
Name of the company |
HITEN FASTENERS PRIVATE LIMITED |
|
Address of the registered office or of the principal place of business in India of the company |
No.25A, Doddanakkundi, Industrial Area, Mahadevapura Post, Bangalore-560048, Karnataka, India E-mail: hitenfasteners@gmail.com |
|
This form is for |
Modification of charge |
|
Charge identification (ID) number of the charge to be modified |
90193913 |
|
Type of charge |
Immovable property |
|
Particular of charge holder |
State Bank of India, SME Branch, ITI Ancillary Industrial Estate, Whitefield Road, Mahadevapura, Bangalore - 560048, Karnataka, India E-mail: rjr.cs69@gmail.com |
|
Nature of instrument creating charge |
MEMORANDUM CONFIRMING THE EXTENSION OF EQUITABLE MORTGAGE BY DEPOSIT OF TITLE DEEDS. |
|
Date of instrument Creating the charge |
01/08/2012 |
|
Amount secured by the charge |
Rs. 274.500 millions |
|
Brief of the principal terms an conditions and extent and operation of the charge |
Rate of Interest As per existing terms of sanction. Terms of Repayment As per existing terms of sanction. Margin As per existing terms of sanction. Extent and Operation of the charge Exclusive first charge on the assets of the company and to the full extent. Others CC (Stocks) Rs. 60.000 millions; CC (Receivables) Rs 60.000 millions; Demand Loan Rs 10.000 millions; Term Loan-1 Rs. 20.000 millions; Term Loan-2 Rs. 15.000 millions; Term Loan-3 Rs. 16.000 millions; Term Loan-4 (New) Rs. 13.500 millions; BG Rs 50.000 millions; LC Rs 30.000 millions; TOTAL Rs. 274.500 millions. |
|
Short particulars of the property or asset(s) charged (including complete address and location of the property) |
1). All that part and parcel of property bearing industrial Plot No.25-A, situated at industrial area, 1st phase in Sy.No.48 of Doddanakundi village, K.R.Puram Hobli, Bangalore south taluk. 2). EM of land and building situated at Khata No.414, Plot No.18 in Somanahally industrial area in Sy.No.29/2 and 29/1 of Somanahally village, kasaba Hobli, Maddur taluk, Mandya District 3). All that piece of land bearing industrial Plot No.7-B, in Somanahally industrial area at Sy.No.29 of Somanahally village, Kasaba Hobli, Maddur taluk, Mandya District Measuring 3050 Sq.mts. 4). All that piece and parcel of land known as Plot No.7-B Part in Somanahally industrial area at Sy.No.29 of Somanahally village, Kasaba Hobli, Maddur taluk, Mandya District Measuring 3560 Sq.mts. 5). All that piece and parcel of land with buildings, structures, fittings and fixtures there on bearing K.No.580/2 (formly site No.1 formed out of the Sy.No.179 of Vibhuthipuram village, K.R.Puram Hobli, Bangalore south Taluk, Measuring 1200 Sq.fts. 6). All that piece of land known as Plot No.17-part-2 and 18 part in Sy. No.29/1 and 29/2 in Somanahally Industrial Area Somanahally Village, Kasaba Hobli, Mandya District. 7). All that piece and parcel of land known as Plot No.30/A2 of Hoskote Industrial Area Situated in Sy. No.81 of Chokkahalli Village, Kasaba Hobli, Hoskote Taluk, Bangalore Measuring 1890.65 sq.mtrs. |
|
Date of instrument modifying the charge |
27.03.2012 |
|
Particulars of the present modification |
For the existing charge of Rs. 274.500 millions additional security of immovable property described and detailed in col no 15 herein above have been obtained. All other terms and conditions and including charge on existing current assets and other movables remain unchanged. |
CONTINGENT
LIABILITIES NOT PROVIDED FOR:
Counter guarantee given to Bank against bank guarantee issued by them on behalf of the company is Rs. 20.216 Millions
FIXED ASSETS
·
Land
·
Leasehold Land
·
Building
·
Plant and Machinery
·
Office Equipment
·
Computer
·
Electrical Installment
·
Furniture and Fixture
·
Vehicle
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
|
Report Prepared
by : |
MRI |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
6 |
|
--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 |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
45 |
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.