|
Report Date : |
16.12.2013 |
IDENTIFICATION DETAILS
|
Name : |
AIR LIQUIDE MEDICAL SYSTEMS PRIVATE LIMITED (w.e.f. 07.07.2009) |
|
|
|
|
Formerly Known
As : |
ELECTROCARE SYSTEMS AND SERVICES PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
36, Annai Indira Nagar, Okkiyam Thoraipakkam, Chennai – 600097,
Tamilnadu |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
10.07.1987 |
|
|
|
|
Com. Reg. No.: |
18-014641 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.0.500 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U33112TN1987PTC014641 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer, Trading and Service of Life Saving Medical Equipments,
Ventilators. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (31) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having a moderate track record. Management of the company has failed to file its latest financials of 2013
with government department. As per of 2012, company has incurred loss from its operation. However, trade relations are fair. Business is active. Payment terms
are slow but correct. 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.
ECGC Country Risk Classification List – March 31st, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
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.
LOCATIONS
|
Registered Office : |
36, Annai Indira Nagar, Okkiyam Thoraipakkam, Chennai – 600097,
Tamilnadu, India |
|
Tel. No.: |
91-44-43851187 / 21580040 / 42 / 43851116 / 17 |
|
Fax No.: |
91-44-24580043 |
|
E-Mail : |
|
|
Website : |
DIRECTORS
(AS ON 06.12.2012)
|
Name : |
Mr. Olivier Rene Jean Petit |
|
Designation : |
Director |
|
Address : |
20 Rue Des Cendres, Rueil Malmaison 92500 |
|
Date of Birth/Age : |
29.09.1962 |
|
Date of Appointment : |
28.02.2011 |
|
DIN No.: |
03482005 |
|
Email : |
|
|
|
|
|
Name : |
Mr. Kohila Ramachndran |
|
Designation : |
Director |
|
Address : |
Plot No.63, Ponniamman Koil St Madura nagar, Ayyapan Thangal, Chennai
– 602101, Tamilnadu, India |
|
Date of Birth/Age : |
26.01.1963 |
|
Date of Appointment : |
08.02.2013 |
|
DIN No.: |
00966622 |
|
|
|
|
Name : |
Mr. Siva Kumar Sankaranarayanan |
|
Designation : |
Managing Director |
|
Address : |
10/24, II Cross Street Shashtri Nagar, Adyar, Chennai – 600020,
Tamilnadu, India |
|
Date of Birth/Age : |
28.01.1957 |
|
Date of Appointment : |
01.10.2010 |
|
DIN No.: |
00889114 |
|
|
|
|
Name : |
Mr. Jaganmohan Lakshman Kalpathi |
|
Designation : |
Director |
|
Address : |
23/24, Ninth Street, Dr. Radhakrishna Salai, Mylapore, Chennai – 600004,
Tamilnadu, India |
|
Date of Birth/Age : |
27.04.1949 |
|
Date of Appointment : |
10.07.1987 |
|
DIN No.: |
00889212 |
|
|
|
|
Name : |
Mr. Jean Marc Giner |
|
Designation : |
Director |
|
Address : |
25, Rue Des Oiseaux Viroflay Viroflay 78 |
|
Date of Birth/Age : |
15.12.1961 |
|
Date of Appointment : |
14.11.2012 |
|
DIN No.: |
069391132 |
|
|
|
|
Name : |
Mr. Jacques Cutayar Marcel Lucien |
|
Designation : |
Director |
|
Address : |
A-249, Mohan Cooperative, Industrial Estate,
New Delhi – 110044, India |
|
Date of Birth/Age : |
29.07.1960 |
|
Date of Appointment : |
08.07.2011 |
|
DIN No.: |
03582287 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
(AS ON 06.12.2012)
|
Names of Shareholders |
|
No. of Shares |
|
|
|
|
|
Air Liquide Medicals Systems SA, France |
|
4999 |
|
Air Liquide India Holding Private Limited |
|
1 |
|
|
|
|
|
Total |
|
5000 |
(AS ON 30.09.2012)
|
Category |
|
Percentage |
|
|
|
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
100.00 |
|
|
|
|
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer, Trading and Service of Life Saving Medical Equipments,
Ventilators. |
|
|
|
|
Brand Name : |
· Orion · Extend · Anavent |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
|
|
|
|
Bankers : |
Not Available |
|
|
|
|
Facilities : |
-- |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
S. V. Ghatalia and Associates Chartered Accountants |
|
Address : |
6th & 7th Floor, A Block, Tidel Park, Module
601, 701 and 702, No.4, Rajiv Gandhi Salai, Chennai – 600113, Tamilnadu,
India |
|
Tel No.: |
91-44-66548100 |
|
Fax No.: |
91-44-22540120 |
|
PAN No.: |
AACFS6921Q |
|
|
|
|
Ultimate Holding Company : |
· Air Liquide Medicals Systems SA, France |
|
|
|
|
Fellow Subsidiaries : |
· Air Liquide India Holding Private Limited · Air Liquide Industrial Service Pte Limited · Air Liquide Medical systems, Italy |
CAPITAL STRUCTURE
(AS ON 06.12.2012)
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5000 |
Equity Shares |
Rs.100/- each |
Rs.0.500 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5000 |
Equity Shares |
Rs.100/- each |
Rs.0.500 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 |
|
0.500 |
0.500 |
|
(b) Reserves & Surplus |
|
35.515 |
38.290 |
|
(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) |
|
36.015 |
38.790 |
|
|
|
|
|
|
(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 |
|
0.395 |
0.000 |
|
(d) long-term
provisions |
|
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
|
0.395 |
0.000 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
|
0.000 |
0.000 |
|
(b)
Trade payables |
|
74.230 |
77.981 |
|
(c) Other
current liabilities |
|
20.182 |
19.376 |
|
(d) Short-term
provisions |
|
6.727 |
7.684 |
|
Total Current
Liabilities (4) |
|
101.139 |
105.041 |
|
|
|
|
|
|
TOTAL |
|
137.549 |
143.831 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
|
3.833 |
6.045 |
|
(ii)
Intangible Assets |
|
0.329 |
0.549 |
|
(iii)
Capital work-in-progress |
|
0.000 |
0.000 |
|
(iv)
Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
|
3.451 |
2.225 |
|
(d) Long-term Loan and Advances |
|
5.956 |
3.179 |
|
(e) Other
Non-current assets |
|
2.074 |
5.289 |
|
Total Non-Current
Assets |
|
15.643 |
17.287 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
|
0.000 |
0.000 |
|
(b)
Inventories |
|
53.721 |
71.142 |
|
(c)
Trade receivables |
|
47.851 |
42.522 |
|
(d) Cash
and cash equivalents |
|
8.549 |
1.767 |
|
(e)
Short-term loans and advances |
|
10.731 |
10.210 |
|
(f)
Other current assets |
|
1.054 |
0.903 |
|
Total
Current Assets |
|
121.906 |
126.544 |
|
|
|
|
|
|
TOTAL |
|
137.549 |
143.831 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
0.500 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
42.000 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
42.500 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
0.000 |
|
|
2] Unsecured Loans |
|
|
0.000 |
|
|
TOTAL BORROWING |
|
|
0.000 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
42.500 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
6.272 |
|
|
Capital work-in-progress |
|
|
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.000 |
|
|
DEFERREX TAX ASSETS |
|
|
0.361 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
30.508 |
|
|
Sundry Debtors |
|
|
41.430 |
|
|
Cash & Bank Balances |
|
|
7.056 |
|
|
Other Current Assets |
|
|
7.799 |
|
|
Loans & Advances |
|
|
8.988 |
|
Total
Current Assets |
|
|
95.781 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditor |
|
|
40.555 |
|
|
Other Current Liabilities |
|
|
18.483 |
|
|
Provisions |
|
|
0.876 |
|
Total
Current Liabilities |
|
|
59.914 |
|
|
Net Current Assets |
|
|
35.867 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
42.500 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
243.459 |
204.624 |
179.648 |
|
|
|
Other Income |
NA |
NA |
NA |
|
|
|
TOTAL (A) |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL (B) |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
0.059 |
(0.747) |
17.014 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
0.191 |
0.262 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
(0.132) |
(1.009) |
17.014 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
1.298 |
1.663 |
1.138 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE TAX
(E-F) (G) |
(1.430) |
(2.672) |
15.876 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
1.346 |
1.038 |
6.106 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
(2.776) |
(3.710) |
9.770 |
|
|
|
|
|
|
|
|
|
|
IMPORT VALUE |
NA |
101.244 |
67.534 |
|
|
|
|
|
|
|
|
|
|
EXPORT VALUE |
NA |
13.651 |
18.161 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
(555.2) |
(742.00) |
-- |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
Net Profit Margin (PBT/Sales) |
(%) |
(0.59)
|
(1.31) |
8.84 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(1.07)
|
(1.89) |
15.56 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.04)
|
(0.07) |
0.37 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.00
|
0.00
|
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.21
|
1.20 |
1.60 |
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 |
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 |
INDEX OF CHARGES
|
S. No. |
Charge ID |
Date of Charge
Creation/ Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
90300282 |
15/04/1993 |
140,000.00 |
CITI BANK N.A. |
766, ANNA SALAI,
MADRAS, TAMILNADU, INDIA |
- |
FIXED ASSETS:
· Land
· Building
· Plant and Machinery
· Computer and Peripherals
· Furniture and Fittings
· Vehicles
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 records 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.62.13 |
|
|
1 |
Rs.101.53 |
|
Euro |
1 |
Rs.85.41 |
INFORMATION DETAILS
|
Report Prepared
by : |
NIT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
31 |
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.