MIRA
INFORM REPORT
|
Report Date : |
10.12.2013 |
IDENTIFICATION DETAILS
|
Name : |
LOGITECH ELECTRONIC (INDIA) PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Office No. 204, Trade Centre, CTS No. 4207(PT), Bandra
Kurla Complex, Bandra (East), Mumbai – 400051, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
03.12.2003 |
|
|
|
|
Com. Reg. No.: |
11-143361 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 0.107 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U51395MH2003PTC143361 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection ccount No.] |
MUML05461B |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACL9385L |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
The company is engaged in the business of providing technologistics
services in the area sales, purchase, selling agents, sales organizers,
indenting agents, merchandising agents. |
|
|
|
|
No. of Employees
: |
Information declined by management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (49) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 190000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an estalblished company having satisfactory track record.
Management of the company has not filed its latest financials with the government
department. As per previouse year financials (i.e. 2012), the networth of the
company appears to be decent. General financial of the company is good. No
external borrowings recorded. The company also receives good support from its
holding company. Trade relations are fair. Business is active. Payments are reported to
be usually correct and as per commitment. The company can be considered normal 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.
INDIAN ECONOMIC OVERVIEW
The current downturn
provides an opportunity to push ahead with reforms to accelerate growth, says
the latest India Development Update report released by the World Bank. The
report says that the adverse effects of rupee depreciation are likely to be
offset by the gains in the exports performance due to improved external
competitiveness. Since May this year, the local currency has depreciated
substantially and fell to a record level of Rs 68.85 to a dollar on August, 28.
A stagflation like situation
appears to have arisen as inflation jumped to an eight month high of 6.46 % for
the month of September. It is up from 6.10 % in August. Growth continues to be
muted with factory output plunging to 0.6 % in August. Onion prices have
risen nearly 300 % from last September. Vegetables cost nearly 90 % more than
they did last year. Wake up to the economic contribution of slum dwellers. They
contribute more than 7.5 % to the country’s gross domestic product, according
to a recent study conducted in 50 top cities.
136000 estimated
number of jobs created during the second quarter of the current financial year.
50000 estimated number of additional jobs in the field of corporate social
responsibility in the coming years.
The International
Finance Corporation expects to come out with its rupee linked bonds issue
before the end of 2013 as a part of its plan to raise $ 1 billion. The Apple
iPhone 5c (Rs 41900 for 16 GB variant) and 5s (Rs 53500 for 16GB variant) has
been launched in India from 1st November.
The Land Acquisition
Act to provide just and fair compensation to farmers will come into force from
January 1 next year, said Rural Development Minister Jairam Ramesh. The Act
replaces a 119 year old registration. The Securities and Exchange Board of India
has approved the trading of currency futures on the Bombay Stock Exchange. The
exchange plans to launch the currency futures platform with advanced trading
technology by the end of November.
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
INFORMATION DECLINED BY
MANAGEMENT NON-COOPERATIVE (Tel. No.: 91-22-33416111)
LOCATIONS
|
Registered/ Sales Office : |
Office No. 204, Trade Centre, CTS No. 4207(PT), Bandra
Kurla Complex, Bandra (East), Mumbai – 400051, Maharashtra, India |
|
Tel. No. : |
91-22-33416111/ 26571160 |
|
Fax No. : |
91-22-26571472 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Marketing Office: |
601, Raja House, 30-31 Nehru Place, New Delhi – 110019, India |
|
Tel. No. : |
91-11-47306602 |
DIRECTORS
As on 29.09.2012
|
Name : |
Judith Ailsa Crosbie Chen |
|
Designation : |
Director |
|
Address : |
FT 827 8/F Tower 3, 88 Tai Tam Reservoir Road, Hong Kong Parkview,
Repulse Bay, Hong Kong, 0000 |
|
Date of Birth/Age : |
08.05.1963 |
|
Date of Appointment : |
27.02.2009 |
|
DIN No. : |
02607099 |
|
|
|
|
Name : |
Kin Wo Poon |
|
Designation : |
Director |
|
Address : |
FLT D 38/F, SKY TWR, The Arch,
No.1 Austin Road (West), TSIM Sha Tsui, KLN, Hong Kong 0000 |
|
Date of Birth/Age : |
12.09.1970 |
|
Date of Appointment : |
27.02.2009 |
|
DIN No. : |
02607111 |
|
|
|
|
Name : |
Chin Yeung Jason Tsang |
|
Designation : |
Director |
|
Address : |
FTD 19/F 11 Glee Path Mei Foo Sun Chuen KLN, Hong Kong |
|
Date of Birth/Age : |
09.11.1976 |
|
Date of Appointment : |
20.08.2012 |
|
DIN No. : |
05356140 |
|
|
|
|
Name : |
Mr. Moninder Nath Jain |
|
Designation : |
Additional Director |
|
Address : |
1614, Sector 37, Arun Vihar, Noida – 201301, Uttar Pradesh, India |
|
Date of Birth/Age : |
01.02.1972 |
|
Date of Appointment : |
06.09.2013 |
|
DIN No. : |
00440623 |
KEY EXECUTIVES
|
Name : |
Mr. Subrotah Biswas |
|
Designation : |
Country Manager - India |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 29.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
Logitech International S.A., Switzerland |
|
10726 |
|
Logitech Asia Pacific Limited, Hong Kong |
|
1 |
|
Total |
|
10727 |
As on 29.09.2012
Equity Share Break up (Percentage of Total Equity)
|
Category |
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 |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
The company is engaged in the business of providing
technologistics services in the area sales, purchase, selling agents, sales
organizers, indenting agents, merchandising agents. |
GENERAL INFORMATION
|
No. of Employees : |
Information declined by management |
|
|
|
|
Bankers : |
Not Divulged |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Sudit .K. Parekh and Company Chartered Accountants |
|
Address : |
2nd Floor, Ballard House, Adi Marzban Path, Ballard Pier, Fort, Mumbai – 400001, Maharashtra, India |
|
Tel. No.: |
91-22-66178000 |
|
Fax No.: |
91-22-66178002 |
|
Email: |
|
|
Income-tax
PAN of auditor or auditor's firm : |
AAAFS4500P |
|
|
|
|
Holding Company: |
Logitech International, S.A, Switzerland |
|
|
|
|
Fellow
Subsidiary: |
· Logitech Asia Pacific Limited, Hong Kong Logitech Inc, USA Logitech Engineering and Designs India Private Limited,
India |
CAPITAL STRUCTURE
As on 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
50,000 |
Equity Shares |
Rs.10/- each |
Rs. 0.500 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10,727 |
Equity Shares |
Rs.10/- each |
Rs. 0.107 Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2012 |
31.03.2011 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
0.107 |
0.107 |
|
(b) Reserves & Surplus |
|
48.847 |
32.007 |
|
(c) Money
received against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
|
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
|
48.954 |
32.114 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
|
0.000 |
0.000 |
|
(c) Other long term liabilities |
|
0.000 |
0.000 |
|
(d) long-term provisions |
|
2.062 |
3.937 |
|
Total Non-current Liabilities (3) |
|
2.062 |
3.937 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
|
0.000 |
0.000 |
|
(b) Trade payables |
|
23.207 |
8.574 |
|
(c) Other current
liabilities |
|
12.961 |
9.057 |
|
(d) Short-term provisions |
|
2.095 |
1.601 |
|
Total Current Liabilities (4) |
|
38.263 |
19.232 |
|
|
|
|
|
|
TOTAL |
|
89.279 |
55.283 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
2.219 |
0.446 |
|
(ii) Intangible Assets |
|
0.543 |
0.000 |
|
(iii) Capital
work-in-progress |
|
0.116 |
0.000 |
|
(iv)
Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
|
1.285 |
1.996 |
|
(d) Long-term Loan and Advances |
|
11.336 |
4.973 |
|
(e) Other Non-current assets |
|
0.000 |
0.000 |
|
Total Non-Current Assets |
|
15.499 |
7.415 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
0.000 |
0.000 |
|
(b) Inventories |
|
0.000 |
0.000 |
|
(c) Trade receivables |
|
66.136 |
37.528 |
|
(d) Cash and cash
equivalents |
|
2.983 |
7.062 |
|
(e) Short-term loans and
advances |
|
4.661 |
3.278 |
|
(f) Other current assets |
|
0.000 |
0.000 |
|
Total Current Assets |
|
73.780 |
47.868 |
|
|
|
|
|
|
TOTAL |
|
89.279 |
55.283 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
0.107 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
21.458 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
21.565 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
0.000 |
|
|
2] Unsecured Loans |
|
|
0.000 |
|
|
TOTAL BORROWING |
|
|
0.000 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
21.565 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
0.367 |
|
|
Capital work-in-progress |
|
|
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.000 |
|
|
DEFERRED TAX ASSETS |
|
|
1.349 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
0.000 |
|
|
Sundry Debtors |
|
|
13.919 |
|
|
Cash & Bank Balances |
|
|
0.660 |
|
|
Other Current Assets |
|
|
5.828 |
|
|
Loans & Advances |
|
|
3.128 |
|
Total
Current Assets |
|
|
23.535 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
0.000 |
|
|
Other Current Liabilities |
|
|
0.353 |
|
|
Provisions |
|
|
3.333 |
|
Total
Current Liabilities |
|
|
3.686 |
|
|
Net Current Assets |
|
|
19.849 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
21.565 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL |
233.224 |
134.998 |
148.866 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
207.660 |
121.808 |
135.393 |
|
|
|
|
|
|
|
|
Less |
Prior Period
Items (Net) |
0.139 |
0.026 |
1.192 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
25.425 |
13.164 |
12.281 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
8.431 |
11.046 |
4.043 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
16.994 |
10.549 |
8.238 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
FOB Value of export of services |
228.229 |
133.841 |
147.908 |
|
|
TOTAL EARNINGS |
228.229 |
133.841 |
147.908 |
|
|
|
|
|
|
|
|
|
|
Earnings / (Loss)
Per Share (Rs.) |
1584.23 |
983.41 |
767.97 |
|
%20PRIVATE%20LIMITED%20-%20246065_MIRA%2010-Dec-2013_files/image001.gif){kind=small}
%20PRIVATE%20LIMITED%20-%20246065_MIRA%2010-Dec-2013_files/image002.gif){kind=small}
%20PRIVATE%20LIMITED%20-%20246065_MIRA%2010-Dec-2013_files/image003.gif){kind=small}
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
7.29
|
7.81 |
5.53 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
28.93
|
24.70 |
51.38 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.52
|
0.41 |
0.57 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.00
|
0.00 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.93
|
2.49 |
6.38 |
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 |
No |
|
24] |
Banking facility details |
No |
|
25] |
Conduct of the banking
account |
----- |
|
26] |
Buyer visit details |
----- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
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 |
No |
CURRENT MATURITIES OF
LONG TERM DEBTS: NOT AVAILABLE
INDEX OF CHARGES: NO
CHARGES EXIST FOR COMPANY
CHANGE OF ADDRESS
The registered office of the company has been shifted from
MMTC House Suite, 603, 6th Floor, C-22, Bandra Kurla Complex, Bandra (East), Mumbai – 400051,
Maharashtra, India to the present address w.e.f. 01.02.2011.
BACKGROUND
The Company domiciled in India and incorporated under the companies Act, 1956. The company is engaged in the business of providing technologistics services in the area sales, purchase, selling agents, sales organizers, indenting agents, merchandising agents. The company is the wholly owned subsidiary of Logitech International S. A., Switzerland.
OPERATIONS
The could achieve profit after tax of Rs. 16.994 Millions. The performance of the company was satisfactory. The Board foresees good opportunity in the coming year.
FIXED ASSETS
v
Tangible
Assets
Plant
and Equipments
Computer
Systems
Furniture
and Fixtures
Office
Equipments
Improvement
to Leasehold Property
v
Intangible Assets
Computer
Software
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.61.18 |
|
|
1 |
Rs.100.01 |
|
Euro |
1 |
Rs.83.82 |
INFORMATION DETAILS
|
Information
Gathered by : |
NYA |
|
|
|
|
Report Prepared
by : |
MRI |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
|
49 |
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.