|
Report Date : |
22.02.2013 |
IDENTIFICATION DETAILS
|
Name : |
ALLIANCE
POLYSACKS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Khasra No.374,
Manoharpur - Khora Road, Village Surana, Shahpura, Manoharpur, Jaipur – 303
120, Rajasthan |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
18.03.2009 |
|
|
|
|
Com. Reg. No.: |
17-028498 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.75.000 millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U25208RJ2009PTC028498 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
JPRA05444F |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAHCA6054G |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of HDPE/ PP Woven Sacks/ Bags/ Fabric. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (27) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 394000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having moderate track record. Latest
financials i.e. 2011-12 are missing with the Government Department. From the
previous year financials it seems that the company has incurred a loss during
the year 2011. Reserves of the company also seem to be insufficient. However,
trade relations are reported as fair. Business is active. Payments are
reported to be slow. 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 – June 30, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
|
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
|
Source
: CIA |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Term Loan: BB- |
|
Rating Explanation |
Moderate risk of default. |
|
Date |
September 12, 2012 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Bank Guarantee: A4+ |
|
Rating Explanation |
Minimal degree of safety it carry high credit risk. |
|
Date |
September 12, 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/ Factory : |
Khasra No.374, Manoharpur
- Khora Road, Village Surana, Shahpura, Manoharpur, Jaipur – 303 120,
Rajasthan |
|
Tel. No.: |
91-141-2344314/ 2345220/ 2346984 |
|
Fax No.: |
91-141-2345219 |
|
E-Mail : |
|
|
|
|
|
Corporate Office : |
137, Jhotwara Industrial Area, Jaipur – 302
012, Rajasthan, India |
|
Tel. No.: |
91-141-2345220/ 2344314 |
|
Fax No.: |
91-141-2345219 |
|
E-Mail : |
DIRECTORS
As on 29.09.2012
|
Name : |
Mr. Sanjay Amarnath Jain |
|
Designation : |
Director |
|
Address : |
46-B, Supreme House, Keshav Path, Suraj Nagar West , Civil Lines, Jaipur
– 302 006, Rajasthan, India |
|
Date of Birth/Age : |
10.06.1968 |
|
Date of Appointment : |
18.03.2009 |
|
DIN No.: |
01273163 |
|
PAN No.: |
AARPJ1115J |
|
|
|
|
Name : |
Mr. Lal Singh Jawahar Singh Sisodia |
|
Designation : |
Director |
|
Address : |
5, Nemi Sagar Colony, Queens Road, Oppsoite C.S.D. Canteen, Jaipur –
302 021, Rajasthan, India |
|
Date of Birth/Age : |
30.06.1951 |
|
Date of Appointment : |
18.03.2009 |
|
DIN No.: |
02434922 |
|
|
|
|
Name : |
Mriganki Gupta |
|
Designation : |
Director |
|
Address : |
K - 61/1 , Bulanala, Varanasi – 221 001, Uttar Pradesh, India |
|
Date of Birth/Age : |
24.06.1976 |
|
Date of Appointment : |
30.09.2010 |
|
DIN No.: |
02682344 |
|
PAN No.: |
ACRPG8539K |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 29.09.2012
|
Names of Shareholders (Equity Shares) |
|
No. of Shares |
|
Sanjay Jain |
|
1099981 |
|
Lal Singh Sisodia |
|
10 |
|
Sidharth Polysacks Private Limited, India |
|
750000 |
|
Ramesh Raman Sethu |
|
600600 |
|
Supreme Polymers Private Limited, India |
|
550000 |
|
Ashok Kumar Goyal HUF |
|
401 |
|
Mukesh Kumar Goyal HUF |
|
401 |
|
Ramesh Kumar Goyal HUF |
|
401 |
|
Vinod Kumar Goyal |
|
1 |
|
Harendra Kumar Anand |
|
2401 |
|
Hari Ram Kapoor |
|
61 |
|
Sarita Tondan |
|
1291 |
|
Shanti Kapoor |
|
371 |
|
Dharm Pal Sehgal |
|
1 |
|
A & J Industrial and Financial Consultancy Private Limited, India |
|
230000 |
|
Scorpio Marketing Private Limited, India |
|
24800 |
|
Total |
|
3260720 |
|
Names of Shareholders (Preference Shares) |
|
No. of Shares |
|
Sanjay Jain |
|
3000 |
|
Sidharth Polysacks Private Limited, India |
|
5000 |
|
Supreme Polymers Private Limited, India |
|
3000 |
|
Approach Marketing Private Limited, India |
|
106000 |
|
Aura Merchants Private Limited, India |
|
10000 |
|
Energy Tie-Up Private Limited, India Niyoj |
|
70000 |
|
Gopalka Motor Investo Private Limited, India |
|
119000 |
|
Paramjyoti Traders Private Limited, India |
|
40000 |
|
Sraboni Sales Private Limited, India |
|
45000 |
|
Ramesh Raman Sethu |
|
4000 |
|
Suktara Tradelink Private Limited, India |
|
20000 |
|
Vananchal Tradecom Private Limited, India |
|
25000 |
|
Total |
|
450000 |
As on 29.09.2012
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Bodies
corporate |
|
66.10 |
|
Directors
or relatives of directors |
|
33.73 |
|
Other
top fifty shareholders |
|
0.17 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of HDPE/ PP Woven Sacks/ Bags/ Fabric. |
||||
|
|
|
||||
|
Products : |
|
PRODUCTION STATUS (AS ON 31.03.2011)
|
Particulars |
2010-11 |
|
Capacity (in
M.T.) |
|
|
1. Licensed Capacity |
N.A. |
|
2. Installed Capacity |
5000 M.T.P.A. |
|
3. Material Processed |
|
|
Own |
3374.49 |
|
Job |
-- |
|
Total |
3374.49 |
|
Particulars |
Actual
Production Qty.
(M.T.) |
|
PP Bags |
440.61 |
|
HDPE Bags |
1064.52 |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
|||||||||||||||
|
|
|
|||||||||||||||
|
Bankers : |
The Jammu and Kashmir
Bank Limited, 5, Batti Chowk, M.I. Road, Jaipur – 302 003, Rajasthan, India |
|||||||||||||||
|
|
|
|||||||||||||||
|
Facilities : |
Notes: (A) From The Jammu
and Kashmir Bank Limited (Loans are secured by way of first exclusive charge
on the entire present and future fixed assets of the company and extension of
exclusive equitable mortgage charge over the factory land and building at
Manoharpur-Khora Road, Surana. Further the same is collaterally secured by
extension of first exclusive charge over the current assets of the company
and also by personal guarantee of one of the Director of the company and
corporate guarantee of Supreme Polymers Private Limited) (B) From The
Jammu and Kashmir Bank Limited (Loans are secured by way of first exclusive
charge on the entire present and future fixed assets of the company and
extension of exclusive equitable mortgage charge over the factory land and
building at Manoharpur-Khora Road, Surana. Further the same is collaterally
secured by extension of first exclusive charge over the current assets of the
company and also by personal guarantee of one of the Director of the company
and corporate guarantee of Supreme Polymers Private Limited) (C) From The
Jammu and Kashmir Bank Limited. (Secured by way of first exclusive charge by
way of hypothecation of company's entire stock of raw materials, stock in
process, finished goods, semi finished goods, stores, spares, book debts and
other current assets. Further the same is collaterally secured by extension
of first exclusive charge on the entire present and future fixed assets of
the company and extension of exclusive equitable mortgage charge over the
factory land and building at Newai and also by personal guarantee of one of
the Director of the Company and corporate guarantee of Supreme Polymers
Private Limited.) (D) From The
Jammu and Kashmir Bank Limited.(Secured by way of first exclusive charge by
way of hypothecation of company's entire stock of raw materials, stock in
process, finished goods, semi finished goods, stores, spares, book debts and
other current assets. Further the same is collaterally secured by extension
of first exclusive charge on the entire present and future fixed assets of
the company and extension of exclusive equitable mortgage charge over the
factory land and building at Newai and also by personal guarantee of one of
the Director of the Company and corporate guarantee of Supreme Polymers
Private Limited.) (E) Secured by hypothecation of vehicle financed |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
A. Bafna and Company Chartered Accountants |
|
Address : |
K-2, Keshav Path, Near Ahinsa Circle, C-Scheme, Jaipur – 302 001, Rajasthan,
India |
|
Tel. No.: |
91-141-2372572/ 2375212/ 2373873 |
|
Fax No.: |
91-141-2363426 |
|
Income-tax
PAN of auditor or auditor's firm : |
AAGFA3909A |
|
|
|
|
Entities in
which key management personnel and their relatives are interested : |
·
Supreme Polymers Private Limited, India (CIN No.:
U17100RJ1995PTC009255) ·
Sidharth Polysacks Private Limited, India (CIN
No.: U15437RJ1999PTC015437) ·
Star Global Endura Private Limited, India (CIN
No.: U25209RJ2009PLC029641) ·
Catalysts, India ·
Shreya's India Private Limited |
CAPITAL STRUCTURE
As on 29.09.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
3500000 |
Equity Shares |
Rs.10/- each |
Rs.35.000 millions |
|
450000 |
Preference Shares |
Rs.100/- each |
Rs.45.000 millions |
|
|
Total |
|
Rs.80.000
millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
3260720 |
Equity Shares |
Rs.10/- each |
Rs.32.607
millions |
|
450000 |
Preference Shares |
Rs.100/- each |
Rs.45.000 millions |
|
|
Total |
|
Rs.77.607
millions |
As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
3250000 |
Equity Shares (With Voting Rights) |
Rs.10/- each |
Rs.32.500 millions |
|
450000 |
0% Optionally Convertible Redeemable
Preference Shares |
Rs.100/- each |
Rs.45.000 millions |
|
|
Total |
|
Rs.77.500
millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
3000000 |
Equity Shares (With Voting Rights) |
Rs.10/- each |
Rs.30.000
millions |
|
450000 |
0% Optionally Convertible Redeemable
Preference Shares |
Rs.100/- each |
Rs.45.000 millions |
|
|
Total |
|
Rs.75.000
millions |
FINANCIAL DATA
[all figures are in
Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2011 |
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
75.000 |
75.000 |
|
|
2] Share Application Money |
|
39.300 |
0.000 |
|
|
3] Reserves & Surplus |
|
5.541 |
0.381 |
|
|
4] (Accumulated Losses) |
|
(21.266) |
0.000 |
|
|
NETWORTH |
|
98.575 |
75.381 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
202.366 |
145.598 |
|
|
2] Unsecured Loans |
|
13.661 |
10.761 |
|
|
TOTAL BORROWING |
|
216.027 |
156.359 |
|
|
DEFERRED TAX LIABILITIES |
|
0.000 |
0.170 |
|
|
|
|
|
|
|
|
TOTAL |
|
314.602 |
231.910 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
145.916 |
151.233 |
|
|
Capital work-in-progress |
|
28.572 |
18.362 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
0.065 |
0.023 |
|
|
DEFERRED TAX ASSETS |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
114.509 |
9.013 |
|
|
Sundry Debtors |
|
11.643 |
46.597 |
|
|
Cash & Bank Balances |
|
0.732 |
0.747 |
|
|
Other Current Assets |
|
33.676 |
15.244 |
|
|
Loans & Advances |
|
40.405 |
2.501 |
|
Total
Current Assets |
|
200.965 |
74.102 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
15.198 |
6.163 |
|
|
Other Current Liabilities |
|
46.340 |
6.049 |
|
|
Provisions |
|
0.000 |
0.085 |
|
Total
Current Liabilities |
|
61.538 |
12.297 |
|
|
Net Current Assets |
|
139.427 |
61.805 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
0.622 |
0.487 |
|
|
|
|
|
|
|
|
TOTAL |
|
314.602 |
231.910 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Sales (Net of Excise) |
|
211.618 |
44.499 |
|
|
|
Other Income |
|
0.920 |
0.021 |
|
|
|
TOTAL |
|
212.538 |
44.520 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Increase/Decrease in Stock |
|
(93.925) |
(4.669) |
|
|
|
Manufacturing and Other Expenses |
|
305.080 |
44.867 |
|
|
|
TOTAL |
|
211.155 |
40.198 |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
|
1.383 |
4.322 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
|
23.200 |
3.771 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
|
(21.817) |
0.551 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
|
(0.171) |
0.170 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
|
(21.646) |
0.381 |
|
|
|
|
|
|
|
|
|
|
Earnings/ (Loss)
Per Share (Rs.) |
|
(7.22) |
0.13 |
|
KEY RATIOS
|
PARTICULARS |
|
|
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
|
(10.18) |
0.86 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
|
(10.31) |
1.24 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
|
(6.29) |
0.24 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
|
(0.22) |
0.01 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
|
2.19 |
2.07 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
|
3.27 |
6.03 |
LOCAL AGENCY FURTHER INFORMATION
|
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 two years |
Yes |
|
12) Profitability for last two 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 |
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 |
Yes |
|
33)
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34)
External Agency Rating, if available |
Yes |
|
Unsecured Loans |
31.03.2011 (Rs.
in Millions) |
31.03.2010 (Rs.
in Millions) |
|
Loans directors unsecured |
3.000 |
3.600 |
|
Other debt unsecured |
10.661 |
7.161 |
|
Total
|
13.661 |
10.761 |
FIXED ASSETS:
·
Land
·
Building
·
Plant and Machinery
·
Electric Installation
·
Miscellaneous Fixed Assets
·
Wind Ventilators
·
Office Equipments
·
Computer
·
Furniture and Fixtures
·
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.54.48 |
|
|
1 |
Rs.82.71 |
|
Euro |
1 |
Rs.72.23 |
INFORMATION DETAILS
|
Report Prepared
by : |
SMN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
2 |
|
--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 |
|
TOTAL |
|
27 |
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.