MIRA
INFORM REPORT
|
Report Date : |
27.02.2013 |
IDENTIFICATION DETAILS
|
Name : |
SYSCO INDUSTRIES PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
206, Rajhans Complex, Civil Char Rasta, Near Nirmal Childran Hospital,
Ring Road, Surat-395002, Gujarat |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
01.09.2009 |
|
|
|
|
Com. Reg. No.: |
04-057954 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 19.867 millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U25200GJ2009PTC057954 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Zari and Lacquered Polyester. |
|
|
|
|
No. of Employees
: |
100 (Approximately) |
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 430000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Even though the company was incorporated in the year 2009, they have started
their activities in 2011. In its first year of operation the company has achieved sizeable
turnover and gained minimum profit. However, trade relations are reported to be 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.
INDIAN ECONOMIC OVERVIEW
India is developing into an open-market economy, yet traces
of its past autarkic policies remain. Economic liberalization, including
industrial deregulation, privatization of state-owned enterprises, and reduced
controls on foreign trade and investment, began in the early 1990s and has
served to accelerate the country's growth, which has averaged more than 7% per
year since 1997. India's diverse economy encompasses traditional village
farming, modern agriculture, handicrafts, a wide range of modern industries,
and a multitude of services. Slightly more than half of the work force is in
agriculture, but services are the major source of economic growth, accounting
for more than half of India's output, with only one-third of its labor force.
India has capitalized on its large educated English-speaking population to
become a major exporter of information technology services and software
workers. In 2010, the Indian economy rebounded robustly from the global
financial crisis - in large part because of strong domestic demand - and growth
exceeded 8% year-on-year in real terms. However, India's economic growth in
2011 slowed because of persistently high inflation and interest rates and
little progress on economic reforms. High international crude prices have
exacerbated the government's fuel subsidy expenditures contributing to a higher
fiscal deficit, and a worsening current account deficit. Little economic reform
took place in 2011 largely due to corruption scandals that have slowed legislative
work. India's medium-term growth outlook is positive due to a young population
and corresponding low dependency ratio, healthy savings and investment rates,
and increasing integration into the global economy. India has many long-term
challenges that it has not yet fully addressed, including widespread poverty,
inadequate physical and social infrastructure, limited non-agricultural
employment opportunities, scarce access to quality basic and higher education,
and accommodating rural-to-urban migration.
|
Source
: CIA |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
B+ (Long term rating) |
|
Rating Explanation |
Having risk of default regarding timely servicing of financial
obligation. |
|
Date |
December, 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.
INFORMATION PARTED BY (GENERAL DETAILS)
|
Name : |
Mr. Binoy Jha |
|
Designation : |
Accounts Manager |
|
Contact No.: |
91-261-2310901 |
|
Date : |
25.02.2013 |
LOCATIONS
|
Registered Office : |
206, Rajhans Complex, Civil Char Rasta, Near Nirmal Childran Hospital,
Ring Road, Surat-395002, Gujarat, India |
|
Tel. No.: |
91-261-2310901 / 2337750 |
|
Fax No.: |
91-261-2310901 |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
|
|
|
|
Factory : |
Plot No. A and B, Block No.100, Kim Olpad Road, Village: Mota Borsara,
Taluka: Mangrol, District: Surat-394110, Gujarat, India |
|
Tel. No.: |
91-2621-290990 |
|
E-mail : |
DIRECTORS
As on 29.09.2012
|
Name : |
Mr. Siddharth Bharat Bhushan Jain |
|
Designation : |
Director |
|
Address : |
6, Kiran Apartments, Athwagate, Surat- 390001, Gujarat, India |
|
Date of Birth/Age : |
04.10.1978 |
|
Date of Appointment : |
01.09.2009 |
|
DIN No.: |
01316766 |
|
|
|
|
Name : |
Mr. Sourabh Bharat Bhushan Jain |
|
Designation : |
Director |
|
Address : |
23, Samruddhi Vasyndhara Society, Vesu Dumas Road, Lanser Army School, Vesu, Surat- 395007, Gujarat, India |
|
Date of Birth/Age : |
23.09.1975 |
|
Date of Appointment : |
01.09.2009 |
|
DIN No.: |
02441361 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 29.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
Siddharth B Jain |
|
330180 |
|
Saurabh B Jain |
|
330000 |
|
Siddharth B Jain HUF |
|
165800 |
|
Saurabh B Jain HUF |
|
164400 |
|
Bharat Bhushan Jain |
|
194620 |
|
Bharat Bhushan Jain HUF |
|
216600 |
|
Varkha Jain |
|
158600 |
|
Priyanka S Jain |
|
185200 |
|
Shashi B Jain |
|
189700 |
|
Shobhit A Gupta |
|
22000 |
|
Sanket Agro Private Limited, India |
|
14000 |
|
Shri Govind Prints Private Limited, India |
|
46000 |
|
Shree Chemo Dyes Limited, India |
|
177000 |
|
Sarla |
|
100 |
|
Shakuntala |
|
100 |
|
Champion Synthetics Private Limited |
|
24000 |
|
Total |
|
2218300 |
Equity Share Break up (Percentage of Total Equity)
As on 29.09.2012
|
Category |
Percentage |
|
Bodies corporate |
7.23 |
|
Directors or relatives of Directors |
89.77 |
|
Other top fifty shareholders |
3.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Zari and Lacquered Polyester. |
||||||
|
|
|
||||||
|
Products : |
|
||||||
|
|
|
||||||
|
Terms : |
|
||||||
|
Selling : |
L/C, Cash and Credit |
||||||
|
|
|
||||||
|
Purchasing : |
L/C, Cash and Credit |
GENERAL INFORMATION
|
Suppliers : |
·
S.J. Enterprises ·
Jindal Poly Films Limited |
||||||||||||
|
|
|
||||||||||||
|
Customers : |
Wholesalers and Retailers ·
Isha Creations ·
Kiran Industries |
||||||||||||
|
|
|
||||||||||||
|
No. of Employees : |
100 (Approximately) |
||||||||||||
|
|
|
||||||||||||
|
Bankers : |
· State Bank of India, MID Corporate Group Industrial Finance Branch, Marble Arch, Race Course Circle, Vadodara - 390007, Gujarat, India · Bank of Baroda, Khatodra Branch, Rajhans Building Ring Road, Surat, Gujarat, India |
||||||||||||
|
|
|
||||||||||||
|
Facilities : |
Note : Secured by hypothecation of Plant and Machineries including equitable mortgage
of companies Land and Building Collateral security : Equitable mortgage of Bunglow at Vesu, Surat in
the name of Shri Bharatbhushan Jain Guaranteed by Directors and Shri Bharatbhushan Jain Terms of repayment and Interest are as follows a)
Rate of Interest :- 13% p.a (Effective rate as on
31.03.2012 is 14.75%) b)
No. of Installment left :- 24 c)
Year of Maturity :- F.Y. :- 2017-2018 d)
Frequency of repayment :- Quarterely |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Adukia and Company Chartered Accountants |
|
Address : |
Shobha Kunj, B/6, Gokul Row House, Parle Point, Surat- 395007, Gujarat,
India |
|
PAN No.: |
ABAPP6887G |
|
|
|
|
Entities having significant influence : |
·
Sysco India Private Limited |
CAPITAL STRUCTURE
As on 29.09.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2500000 |
Equity Shares |
Rs.10/- each |
Rs. 25.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2218300 |
Equity Shares |
Rs.10/- each |
Rs. 22.183 Millions |
|
|
|
|
|
As on 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2250000 |
Equity Shares |
Rs.10/- each |
Rs. 25.500 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1986700 |
Equity Shares |
Rs.10/- each |
Rs. 19.867 Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are in
Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
19.867 |
7.334 |
0.528 |
|
|
2] Share Application Money |
9.175 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
79.162 |
28.945 |
0.010 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
108.204 |
36.279 |
0.538 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
165.184 |
10.007 |
0.000 |
|
|
2] Unsecured Loans |
5.000 |
4.200 |
0.000 |
|
|
TOTAL BORROWING |
170.184 |
14.207 |
0.000 |
|
|
DEFERRED TAX LIABILITIES |
0.053 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
278.441 |
50.486 |
0.538 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
121.051 |
8.413 |
0.000 |
|
|
Capital work-in-progress |
58.172 |
13.592 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERRED TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
55.856
|
0.000 |
0.000 |
|
|
Sundry Debtors |
39.289
|
0.000 |
0.000 |
|
|
Cash & Bank Balances |
11.839
|
2.820 |
0.313 |
|
|
Other Current Assets |
1.959
|
3.908 |
0.000 |
|
|
Loans & Advances |
26.489
|
22.493 |
0.025 |
|
Total
Current Assets |
135.432
|
29.221 |
0.338 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
11.544
|
0.611 |
0.006 |
|
|
Other Current Liabilities |
24.052
|
0.129 |
0.000 |
|
|
Provisions |
0.618
|
0.000 |
0.005 |
|
Total
Current Liabilities |
36.214
|
0.740 |
0.011 |
|
|
Net Current Assets |
99.218
|
28.481 |
0.327 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.211 |
|
|
|
|
|
|
|
|
TOTAL |
278.441 |
50.486 |
0.538 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
66.287 |
|
0.021 |
|
|
|
Other Income |
0.137 |
0.000 |
|
|
|
|
TOTAL (A) |
66.424 |
0.000 |
0.021 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of material consumed |
72.911 |
|
0.006 (Including
Financial expenses and Depreciation) |
|
|
|
Employee Benefit expenses |
3.247 |
0.000 |
|
|
|
|
Other expenses |
5.446 |
0.000 |
|
|
|
|
Changes in Inventories of Stock-in-trade |
(25.910) |
0.000 |
|
|
|
|
TOTAL (B) |
55.694 |
0.000 |
|
|
|
|
|
|
||
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (A-B) |
10.730 |
0.000 |
||
|
|
|
|
|
||
|
Less |
FINANCIAL
EXPENSES (D) |
3.704 |
0.000 |
||
|
|
|
|
|
||
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
7.026 |
0.000 |
||
|
|
|
|
|
||
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
6.855 |
0.000 |
||
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F)
(G) |
0.171 |
0.000 |
0.015 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
0.087 |
0.000 |
0.005 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-H) (I) |
0.084 |
0.000 |
0.010 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
0.010 |
0.010 |
0.000 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
0.094 |
0.010 |
0.010 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
0.414 |
0.000 |
NA |
|
|
|
Capital Goods |
39.996 |
0.000 |
NA |
|
|
TOTAL IMPORTS |
40.410 |
0.000 |
NA |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
0.04 |
0.00 |
NA |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
0.13
|
0.00 |
47.62 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
0.26
|
0.00 |
NA |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.07
|
0.00 |
4.44 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.00
|
0.00 |
0.03 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
1.57
|
0.39 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
3.74
|
39.49 |
30.72 |
LOCAL AGENCY FURTHER INFORMATION
SUNDRY CREDITORS
DETAILS:
|
Particulars |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
(Rs. In Millions) |
||
|
|
|
|
|
|
Sundry Creditor |
11.544
|
0.611 |
0.006 |
|
|
|
|
|
|
Total |
11.544
|
0.611 |
0.006 |
|
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
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 |
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 |
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 |
Yes |
YEAR UNDER REVIEW
During the year, the Company was engaged in the establishment of an Industrial Project at Village: Moti Borasara, Taluaka: Mangrol, District: Surat. The Company has already acquired a land plot No. A & B, Block No. 100, at above premises. The Company has also completed procedure for making necessary statutory applications like Registration of the Company with the District Industries Commissioner, Registration with and application with Secretariat for Industrial Approvals, Central Government, Gujarat State Pollution Control Board, Applied for obtaining Income Tax PAN Number, TDS Account Number, Service Tax Number, Applied to DGVCL for HT power connection etc. The Company’s Project is in the phase of Implementation. The Design, Drawings and technical reports are prepared, and got the project approved from bankers State Bank of India, Industrial Finance Branch, Baroda.
UNSECURED LOAN
|
Unsecured Loan |
31.03.2012 (Rs.
in Millions) |
31.03.2011 (Rs.
In Millions) |
|
From Friends and Relatives |
5.000 |
4.200 |
|
Total |
5.000 |
4.200
|
FIXED ASSETS
·
Land
·
Factory Building
·
Plant and Machinery
·
Furniture and Fixtures
·
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.53.84 |
|
|
1 |
Rs.81.24 |
|
Euro |
1 |
Rs.70.39 |
INFORMATION DETAILS
|
Information
Gathered by : |
PLK |
|
|
|
|
Report Prepared
by : |
MRI |
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 |
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 |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
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.