MIRA
INFORM REPORT
|
Report Date : |
31.08.2013 |
IDENTIFICATION DETAILS
|
Name : |
VIRTUAL GALAXY
INFOTECH PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
3, Central
Excise Colony, Behind Mahatme Eye Bank,, Chhatrapati Square, Ring Road,
Nagpur – 440 015, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
12.09.1997 |
|
|
|
|
Com. Reg. No.: |
11-110645 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.16.400
millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U99999MH1997PTC110645 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Providing ERP Software Solution, CBS Solution Application and Web
Services. |
|
|
|
|
No. of Employees
: |
210 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (29) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 109000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Unknown |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having moderate track record. The management
of the company has not filed its latest financials with the Government
Department. As per previous year financials the reserves of the company seems
to be low. 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.
|
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
INDIAN ECONOMIC OVERVIEW
We are living in a
world where volatility and uncertainty have become the New Normal. We saw
a change of government in countries like Tunisia, Egypt, Libya and Vietnam.
Once powerful countries in Europe are now fighting for bankruptcy. We have
taken growth in the developing part of the world for granted but economic
growth in China and India has begun to slow. Companies that were synonymous
with their product categories just a few years ago are now no longer in
existence. Kodak, the inventor of the digital camera had to wind up its
operations, HMV, the British entertainment retailing company and Borders, once
the second largest bookstore have shut down due to their inability to evolve their
business models with the changing time. Readers’ Digest, Thomson Register are
no more !
There is another
megatrend happening. The World order is changing as economic power shifts from
West to East. According to McKinsey study, it took Britain more than 100 years
to double its economic output per person during its industrial revolution and
the US later took more than 50 years to do the same. More than a century later,
China and India have doubled their GDP per capital in 12 and 18 years
respectively. By 2020, emerging Asia will become the world’s largest consuming
block, overtaking North America.
The years after the
outbreak of the global financial crisis, the world economy continues to remain
fragile. The Indian economy demonstrated remarkable resilience in the initial
years of the contagion but finally lost ground last year. GDP growth slowed
down. Currency has been weakening. There is a marked deceleration in
agriculture, industry and services. Dampening sentiment led to a cut-back in
investment as well as private consumption expenditure. Inflation remained
at high levels fuelled by the pressure from the food and fuel sectors. The
large fiscal and current account deficit s continued to cause grave concern. It
is imperative that India regains its growth trajectory of 8-9 % sooner than
later. This is crucially important given the need to create gainful livelihood
opportunities for the millions living in poverty as also the large contingent
of young people joining the job market every year.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
B+ [Long Term] |
|
Rating Explanation |
High risk of default |
|
Date |
14.03.2013 |
|
Rating Agency Name |
CRISIL |
|
Rating |
A4 [Short Term] |
|
Rating Explanation |
Minimal degree of safety and very high credit risk. |
|
Date |
14.03.2013 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
INFORMATION PARTED BY
|
Name : |
Ms. Arti Kanade |
|
Designation : |
Accounts Department |
|
Contact No.: |
91-712-6466310 |
|
Date : |
30.08.2013 |
LOCATIONS
|
Registered Office : |
3, Central
Excise Colony, Behind Mahatme Eye Bank,, Chhatrapati Square, Ring Road,
Nagpur – 440 015, Maharashtra, India |
|
Tel. No.: |
91-712-6565221/ 2244778/ 6466309/ 6466310/ 6466311 |
|
Mobile No.: |
91-9822930301 (Mr. Mahendra) |
|
Fax No.: |
91-712-2244778/ 2244768 |
|
E-Mail : |
|
|
Website : |
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|
Location : |
Owned |
|
|
|
|
Branch Office : |
Located At: ·
Delhi ·
Pune ·
Ahmedabad ·
Raipur ·
Indore ·
Lucknow |
|
|
|
|
Overseas Office : |
Located At: ·
Uganda ·
Tanzania |
DIRECTORS
AS ON 30.09.2011
|
Name : |
Mr. Avinash Narayan Shende |
|
Designation : |
Director |
|
Address : |
3, Central Excise Colony W, Adhra Road, Nagpur – 440 015, Maharashtra,
India |
|
Date of Appointment : |
12.09.1997 |
|
DIN No.: |
02179381 |
|
|
|
|
Name : |
Mr. Sachin Purushottam Pande |
|
Designation : |
Director |
|
Address : |
Plot No.68, Dattatraya Nagar, Nagpur – 440 024, Maharashtra, India |
|
Date of Appointment : |
12.09.1997 |
|
DIN No.: |
02181154 |
KEY EXECUTIVES
|
Name : |
Ms. Arti Kanade |
|
Designation : |
Accounts Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
Avinash Narayan Shende |
|
760000 |
|
Sachin Purushottam Pande |
|
710000 |
|
Shilpa Avinash Shende |
|
85000 |
|
Sampada Sachin Pande |
|
85000 |
|
TOTAL |
|
1640000 |
AS ON 30.09.2011
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Directors
or relatives of directors |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Providing ERP Software Solution, CBS Solution Application and Web
Services. |
|
|
|
|
Terms : |
|
|
Selling : |
Cash and Credit |
|
|
|
|
Purchasing : |
Cash and Credit |
GENERAL INFORMATION
|
Suppliers : |
· Business Algorithms Private Limited · Computer Store · Dicksons Engineering Company Private Limited · I C S Private Limited · Shriram Urban Co-Operative Bank Limited · Quickhal Technologies (Private) Limited · Risbud Karandikar and Company · R.K. Electricals · Super Computers · Sai Infosystem (India) Limited · Silver System · Tata Communications Internate Services Limited · Unilogic System (India) Private Limited |
||||||||||||||||||||||||
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|
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|
Customers : |
Corporate ·
Anjani Steel Limited (Raigad) ·
Agrasen Nagri Sahakari Bank Limited ·
Bhandara Nagar Parishad ·
Goyal Proteins Limited ·
I R I S Computers Limited ·
Indian Sugar Manufacturing Company Limited ·
Hingoli Nagar Parishad ·
Majalgaon Sahakari Sakhar Karkhana Limited ·
Yashwant Nagri Sahakari Bank Limtied ·
State Bank of Patiala ·
Sanwaria Agro Oils Limited ·
Tania Industries Private Limited ·
Shiva Global Agro Industries Limited |
||||||||||||||||||||||||
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|
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No. of Employees : |
210 (Approximately) |
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Bankers : |
·
Bank of Maharashtra, Shankar Nagar Branch, Nagpur
– 440 010, Maharashtra, India ·
Punjab National Bank ·
The Hongkong and Shanghai Banking Corporation Limited ·
Pusad Urban
Co-Operative Bank Limited · Samruddhi Co-Operative Bank Limited |
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Facilities : |
|
|
|
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Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Risbud Karandikar and Company Chartered Accountants |
|
Address : |
S-2, Uma Smruti, Modi No.1, Sitabjldi, Nagpur – 440 012, Maharashtra,
India |
|
Tel. No.: |
91-712-2528886 |
|
Income-tax
PAN of auditor or auditor's firm : |
AAGFR6258R |
|
|
|
|
Associates/Subsidiaries : |
·
Info Craft Address: 3, Central
Excise Colony, Behind Mahatme Eye Bank,, Chhatrapati Square, Ring Road,
Nagpur – 440 015, Maharashtra Line
of Business: Dealer of Computers, Software and Computer Peripherals and Other
Information Technology Products. |
CAPITAL STRUCTURE
AS ON 30.09.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
2000000 |
Equity Shares |
Rs.10/- each |
Rs.20.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
1640000 |
Equity Shares |
Rs.10/- each |
Rs.16.400
Millions |
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 |
16.400 |
16.400 |
0.200 |
|
|
2] Share Application Money |
2.913 |
0.062 |
5.383 |
|
|
3] Reserves & Surplus |
8.028 |
3.866 |
3.928 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
27.341 |
20.328 |
9.511 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
31.621 |
19.357 |
16.420 |
|
|
2] Unsecured Loans |
0.131 |
0.131 |
0.131 |
|
|
TOTAL BORROWING |
31.752 |
19.488 |
16.551 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
59.093 |
39.816 |
26.062 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
33.645 |
17.840 |
15.909 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
1.870 |
2.054 |
4.057 |
|
|
DEFERRED TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
6.828
|
4.189 |
3.815 |
|
|
Sundry Debtors |
55.946
|
17.614 |
6.897 |
|
|
Cash & Bank Balances |
0.869
|
0.635 |
2.246 |
|
|
Other Current Assets |
2.529
|
2.866 |
2.581 |
|
|
Loans & Advances |
1.397
|
1.626 |
1.627 |
|
Total
Current Assets |
67.569
|
26.930 |
17.166 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
38.401
|
3.303 |
8.563 |
|
|
Other Current Liabilities |
0.000
|
0.000 |
0.023 |
|
|
Provisions |
5.866
|
4.016 |
2.654 |
|
Total
Current Liabilities |
44.267
|
7.319 |
11.240 |
|
|
Net Current Assets |
23.302
|
19.611 |
5.926 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.276 |
0.311 |
0.170 |
|
|
|
|
|
|
|
|
TOTAL |
59.093 |
39.816 |
26.062 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
65.275 |
26.571 |
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL (A) |
70.470 |
65.275 |
26.571 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL (B) |
59.704 |
56.571 |
19.516 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
10.766 |
8.704 |
7.055 |
|
|
|
|
|
|
|
|
|
Less |
INTEREST (D) |
2.572 |
2.629 |
1.614 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
8.194 |
6.075 |
5.441 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
2.168 |
0.759 |
0.890 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
6.026 |
5.316 |
4.551 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
1.865 |
1.650 |
2.163 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
4.161 |
3.667 |
2.388 |
|
|
|
|
|
|
|
|
|
|
PREVIOUS YEARS’
BALANCE BROUGHT FORWARD |
3.866 |
3.928 |
1.497 |
|
|
|
|
|
|
|
|
|
|
BONUS SHARES
ISSUED DURING THE YEAR |
0.000 |
3.800 |
0.000 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
8.027 |
1.497 |
3.885 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
2.54 |
2.24 |
NA
|
|
|
Particulars |
|
|
31.03.2013 |
|
Sales Turnover [Approximately] |
|
|
350.000 |
The above information has been parted by Ms. Arti Kanade.
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
5.90
|
5.62 |
8.99 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
5.95
|
11.87 |
13.76 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.22
|
0.26 |
0.48 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
1.16
|
0.96 |
1.74 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.53
|
3.68 |
1.53 |
LOCAL AGENCY FURTHER INFORMATION
DETAILS OF CURRENT MATURITIES OF LONG TERM
DEBT: NOT AVAILABLE
|
Sr. No. |
Check List by Info
Agents |
Available in
Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
Yes |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact person |
Yes |
|
11] |
Turnover of firm for last four years |
Yes |
|
12] |
Profitability for last three years |
Yes |
|
13] |
Reasons for variation <> 20% |
-- |
|
14] |
Estimation for coming financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister concerns |
Yes |
|
17] |
Major suppliers |
Yes |
|
18] |
Major customers |
Yes |
|
19] |
Payments terms |
Yes |
|
20] |
Export / Import details (if applicable) |
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 |
No |
|
30] |
Major Shareholders, if available |
Yes |
|
31] |
PAN of Proprietor/Partner/Director, if available |
No |
|
32] |
Date
of Birth of Proprietor/Partner/Director, if available |
Yes |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
Yes |
INDEX OF CHARGES:
|
S.
No. |
Charge
ID |
Date
of Charge Creation/Modification |
Charge
amount secured |
Charge
Holder |
Address |
Service
Request Number (SRN) |
|
1 |
10353848 |
04/04/2012 |
20,000,000.00 |
BANK
OF MAHARASHTRA |
SHANKAR
NAGAR BRANCH, NAGPUR - 440010, MAHARASHTRA, INDIA |
B38993333 |
|
2 |
10274393 |
27/07/2011
* |
47,625,000.00 |
BANK
OF MAHARASHTRA |
SHANKAR
NAGAR BRANCH, NAGPUR - 440010, MAHARASHTRA, INDIA |
B19128339 |
|
3 |
10199211 |
20/01/2010 |
2,500,000.00 |
BANK
OF MAHARASHTRA |
AYODHYANAGAR
BRANCH, NAGPUR - 440024, MAHARASHTRA, INDIA |
A77915536 |
|
4 |
10116114 |
16/07/2008 |
18,500,000.00 |
BANK
OF MAHARASTRA |
AYODHYANAGAR
BRANCH, NAGPUR - 440024, MAHARASHTRA, INDIA |
A42995449 |
|
* Date of charge modification |
||||||
|
Unsecured Loans |
31.03.2011 (Rs. in Millions) |
31.03.2010 (Rs. in Millions) |
|
Madhavrao Ghuse |
0.018 |
0.018 |
|
Savita A. Joshi |
0.018 |
0.018 |
|
Suchita Sontakke |
0.019 |
0.019 |
|
Nitin Pande |
0.019 |
0.019 |
|
Parinita Pande |
0.019 |
0.019 |
|
Vivek Soniakke |
0.019 |
0.019 |
|
Sammer Salpekar |
0.019 |
0.019 |
|
TOTAL |
0.131 |
0.131 |
NOTE:
The registered office of the company has been shifted from First Floor,
Jagdish Bhavan, Mahal Square, Nagpur – 440 002, Maharashtra to the
present address w.e.f. 20.03.2009.
FIXED ASSETS:
·
Plant and Machinery
·
Electrical Installation
·
Furniture and Fixture
·
Fire Extinguisher
·
Electrical Equipments
·
Vehicles
·
Laptop
·
Goddess Idol
·
Refrigerator
·
CCTV Camera
·
Adv. For Plot
·
Air Conditioner
·
Projector
·
Software Development
·
Spiral Binding Machine
·
Tea/Coffee Machine
·
Office Interior
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.66.57 |
|
|
1 |
Rs.103.34 |
|
Euro |
1 |
Rs.88.16 |
INFORMATION DETAILS
|
Information
Gathered by : |
PLK |
|
|
|
|
Report Prepared
by : |
TPT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
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 |
3 |
|
--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 |
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
29 |
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.