MIRA
INFORM REPORT
|
Report Date : |
13.12.2013 |
IDENTIFICATION DETAILS
|
Name : |
GETZ PHARMA RESEARCH PRIVATE LIMITED (w.e.f. 14.05.2007) |
|
|
|
|
Formerly Known
As : |
GETZ PHARMA PRIVATE LIMITED |
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Registered
Office : |
Plot No.PL-11, MIDC,
Additional Ambernath, Ambernath – 421 506, |
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Country : |
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Financials (as
on) : |
31.03.2013 |
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Date of
Incorporation : |
18.05.2005 |
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Com. Reg. No.: |
11-153404 |
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Capital Investment
/ Paid-up Capital : |
Rs.1.402
millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24230MH2005PTC153404 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMG10791E |
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|
|
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PAN No.: [Permanent Account No.] |
AACCG3697A |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Subject is
engaged in the activity of research and development of drugs and
pharmaceuticals and pharmaceutical consultancy. |
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|
|
No. of Employees
: |
Information declined by management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (50) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 760000 |
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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 a subsidiary of Getz Pharma International FZ-LLC, Dubai,
U.A.E. It is an established company having a satisfactory track record. Profitability of the company seems to be decent. General financial
position of the company appears to be sound and healthy. Trade relations are fair. Business is active. Payment terms are
usually correct. The company can be considered for business dealings 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.
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
|
Name : |
Laxmi |
|
Designation : |
Office Executive |
|
Contact No.: |
91-9223687800 |
|
Date : |
12.12.2013 |
LOCATIONS
|
Registered Office : |
Plot No.PL-11,
MIDC, Additional Ambernath, Ambernath – 421 506, |
|
Tel. No.: |
91-9623458941/ 42/ 43 |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Website : |
DIRECTORS
As on 29.09.2012
|
Name : |
Mr. Anand Prafulchandra Shah |
|
Designation : |
Managing Director |
|
Address : |
Flat
1204/1205/1206, Building 3, Odyssey Kesar, Harmony Plot 11/12, Sector-6,
Kharghar, Mumbai – 410 210, |
|
Date of Birth/Age : |
09.03.1973 |
|
Date of Appointment : |
01.04.2011 |
|
DIN No.: |
00597145 |
|
|
|
|
Name : |
Mr. Khalid Mahmood |
|
Designation : |
Director |
|
Address : |
3013, |
|
Date of Birth/Age : |
07.12.1952 |
|
Date of Appointment : |
14.11.2008 |
|
DIN No.: |
02385514 |
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|
|
|
|
|
Name : |
Utsav Dhupelia |
|
Designation : |
Director |
|
Address : |
13, Ocean View
Annexe, 100, |
|
Date of Birth/Age : |
24.04.1947 |
|
Date of Appointment : |
30.09.2009 |
|
DIN No.: |
01493571 |
|
|
|
|
Name : |
Mr. Raymond Simkins |
|
Designation : |
Director |
|
Address : |
16, |
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Date of Birth/Age : |
03.06.1943 |
|
Date of Appointment : |
16.07.2008 |
|
DIN No.: |
01573312 |
KEY EXECUTIVES
|
Name : |
Laxmi |
|
Designation : |
Office Executive |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 20.09.2012
|
Names of Shareholders (Equity Shares) |
|
No. of Shares |
|
Getz Pharma International FZ-LLC, |
|
77745 |
|
Anand Prafulchandra Shah |
|
5 |
|
Total |
|
77750 |
|
Names of Shareholders (Preference Shares) |
|
No. of Shares |
|
Getz Pharma International FZ-LLC, |
|
62471 |
|
Total |
|
62471 |
Equity Share Break up (Percentage of Total Equity)
As on 29.09.2012
|
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 |
99.99 |
|
Directors or relatives of Directors |
0.01 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in the activity of research and development of drugs
and pharmaceuticals and pharmaceutical consultancy. |
GENERAL INFORMATION
|
No. of Employees : |
Information declined by management |
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Bankers : |
v IDBI Bank
Limited, v
State Bank of India, Konkan Bhavan Branch, CIDCO
Bhavan (South Wing), CBD Belapur, Navi Mumbai – 400 614, Maharashtra, India |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
|
|
Name : |
Shankarlal Jain and Associates Chartered Accountants |
|
Address : |
12, |
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Tel. No.: |
91-22-22036623/ 22065739 |
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Fax No.: |
91-22-22086269 |
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E-Mail : |
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|
Website : |
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Income-tax
PAN of auditor or auditor's firm : |
AACFS6967Q |
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Holding Company : |
v Getz Pharma International FZ-LLC, Dubai, U.A.E. |
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|
|
|
Fellow Subsidiaries : |
v Getz Pharma
Private Limited |
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|
|
|
Enterprises over which the key management
personnel has influence : |
v Enaltec Labs
Private Limited |
CAPITAL STRUCTURE
As on 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
100000 |
Equity Shares |
Rs.10/- each |
Rs.1.000 million |
|
200000 |
Cumulative Convertible Preference Shares |
Rs.10/- each |
Rs.2.000 millions |
|
|
Total |
|
Rs.3.000
millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
77750 |
Equity Shares |
Rs.10/- each |
Rs.0.777
million |
|
62471 |
Cumulative Convertible Preference Shares |
Rs.10/- each |
Rs.0.625
million |
|
|
Total |
|
Rs.1.402 millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
1.402 |
1.402 |
1.402 |
|
(b) Reserves & Surplus |
189.373 |
174.925 |
168.822 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Total Shareholders’
Funds (1) + (2) |
190.775 |
176.327 |
170.224 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
5.776 |
14.460 |
24.617 |
|
(b) Deferred tax liabilities (Net) |
15.965 |
6.883 |
6.678 |
|
(c) Other long term liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
4.662 |
3.278 |
0.528 |
|
Total Non-current Liabilities (3) |
26.403 |
24.621 |
31.823 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
39.568 |
39.975 |
16.448 |
|
(b) Trade payables |
26.181 |
12.204 |
17.611 |
|
(c) Other current
liabilities |
15.313 |
12.952 |
21.814 |
|
(d) Short-term provisions |
0.980 |
1.016 |
0.619 |
|
Total Current Liabilities (4) |
82.042 |
66.147 |
56.492 |
|
|
|
|
|
|
TOTAL |
299.220 |
267.095 |
258.539 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
244.893 |
231.523 |
235.001 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
0.000 |
0.000 |
0.000 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
1.861 |
1.833 |
2.432 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
246.754 |
233.356 |
237.433 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
0.960 |
0.555 |
0.933 |
|
(c) Trade receivables |
35.344 |
25.989 |
13.558 |
|
(d) Cash and cash
equivalents |
6.783 |
1.063 |
1.327 |
|
(e) Short-term loans and
advances |
6.161 |
4.552 |
4.170 |
|
(f) Other current assets |
3.218 |
1.580 |
1.118 |
|
Total Current Assets |
52.466 |
33.739 |
21.106 |
|
|
|
|
|
|
TOTAL |
299.220 |
267.095 |
258.539 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Development Charges |
169.848 |
100.826 |
88.320 |
|
|
|
Other Income |
1.486 |
4.484 |
0.051 |
|
|
|
TOTAL (A) |
171.334 |
105.310 |
88.371 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Development and Consultancy Expenses |
|
|
26.852 |
|
|
|
Personnel Cost |
|
|
32.220 |
|
|
|
Administrative Cost |
|
|
16.994 |
|
|
|
TOTAL (B) |
141.304 (Including
Depreciation and Financial Expenses) |
96.502 (Including
Depreciation and Financial Expenses) |
76.066 |
|
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
|
|
12.305 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
|
|
11.649 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
|
|
0.656 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
|
|
8.734 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX (E-F) (G) |
30.030 |
8.808 |
(8.078) |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
15.582 |
2.705 |
(2.033) |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX (G-H) (I) |
14.448 |
6.103 |
(6.045) |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’
BALANCE BROUGHT FORWARD |
15.343 |
9.240 |
15.285 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
29.791 |
15.343 |
9.240 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Development Charges |
183.492 |
104.256 |
96.451 |
|
|
TOTAL EARNINGS |
183.492 |
104.256 |
96.451 |
|
|
|
|
|
|
|
|
|
|
Earnings/ (Loss)
Per Share (Rs.) |
|
|
|
|
|
|
- Basic |
|
NA |
(77.93) |
|
|
|
- Diluted |
10.33 |
NA |
(43.11) |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
8.73
|
5.80 |
(6.84) |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
17.68
|
8.74 |
(9.15) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
10.04
|
3.30 |
(3.12) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.16
|
0.05 |
(0.05) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.24
|
0.31 |
0.24 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.64
|
0.51 |
0.37 |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES
OF LONG-TERM DEBT DETAILS:
|
Particulars |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
(Rs. In Millions) |
||
|
Current maturities of long-term debt |
10.460 |
10.157 |
14.341
|
|
|
|
|
|
|
Total |
10.460 |
10.157 |
14.341
|
|
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 |
Yes |
|
10] |
Designation of contact
person |
Yes |
|
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 |
No |
REVIEW OF OPERATIONS:
During the year, the Company has earned Rs. 169.848 Millions from the operations as compared to Rs. 100.826 Millions during the previous financial year thereby recording a rise of Rs. 8.346 Millions in Profits after tax for the current financial year.
The Company has got satisfactory results for the year and your directors are continuously looking for avenues for future growth of the Company in the Pharma sector.
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
10458615 |
13/09/2013 |
3,200,000.00 |
BMW INDIA FINANCIAL SERVICES PRIVATE
LIMITED |
TOWER C, 14TH
FLOOR, BUILDING NO. 10, DLF CYBER CITY, PHASE-II, GURGAON, HARYANA - 122002,
INDIA |
B88926746 |
|
2 |
10413901 |
14/10/2013 * |
37,500,000.00 |
ICICI BANK LIMITED |
LANDMARKRACE COURCE
CIRCLE, ALKAPURI, BARODA, GUJARAT - 390015, INDIA |
B89026371 |
|
3 |
10425225 |
31/08/2012 |
2,000,000.00 |
BMW INDIA FINANCIAL SERVICES PRIVATE
LIMITED |
TOWER C, 14TH FLOOR,
BUILDING NO. 10, DLF CYBER CITY, PHASE-II, GURGAON, HARYANA - 122002, INDIA |
B65240996 |
|
4 |
10287643 |
14/10/2013 * |
155,964,000.00 |
IDBI BANK LIMITED |
IDBI TOWERWTC
COMPLEX, CUFFE PARADE, MUMBAI, MAHA |
B90139908 |
* Date of charge modification
FIXED ASSETS
v
Land
v
Building
v
Plant and Machinery
v
Office Equipment
v
Vehicle
v
Furniture and Fixture
v
Computers
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.61.62 |
|
|
1 |
Rs.100.84 |
|
Euro |
1 |
Rs.84.98 |
INFORMATION DETAILS
|
Information
Gathered by : |
JML |
|
|
|
|
Report Prepared
by : |
KVT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
|
50 |
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.