MIRA
INFORM REPORT
|
Report Date : |
04.01.2013 |
IDENTIFICATION DETAILS
|
Name : |
PATEL INFRASTRUCTURE PRIVATE LIMITED |
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Registered
Office : |
Patcon House, Kotecha Chowk, Kalawad Road, Rajkot – 360007, Gujarat |
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Country : |
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Financials (as
on) : |
31.03.2011 |
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Date of
Incorporation : |
13.04.2004 |
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Com. Reg. No.: |
04-043955 |
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Capital Investment
/ Paid-up Capital : |
Rs.38.000 Millions |
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|
|
|
CIN No.: [Company Identification
No.] |
U45201GJ2004PTC043955 |
|
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|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
RKTP01171C |
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PAN No.: [Permanent Account No.] |
AADCP2670D |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
They are engaged into construction activity. |
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No. of Employees
: |
Information
denied by the 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 1800000 |
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Status : |
Good |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
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Comments : |
Subject is a well established company having good track record. The
company is doing well. Trade relations are reported as fair. Business is active.
Payments are reported to be usually correct and as per commitments. 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
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 |
BBB (Long Term Bank Facilities) |
|
Rating Explanation |
Moderate degree of safety. It carry moderate
credit risk. |
|
Date |
29.02.2012 |
|
Rating Agency Name |
CARE |
|
Rating |
A3 (Short Term Bank Facilities) |
|
Rating Explanation |
Moderate degree of safety. It carry higher
credit risk. |
|
Date |
29.02.2012 |
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 DECLINED BY
|
Name : |
Mr. Sandeep |
|
Designation : |
Accountant |
|
Contact No.: |
91-281-2458286 |
|
Date : |
03.01.2012 |
LOCATIONS
|
Registered Office : |
Patcon House, Kotecha Chowk, Kalawad Road, Rajkot – 360007, Gujarat,
India |
|
Tel. No.: |
91-281-2458286 |
|
Fax No.: |
91-281-2459286 |
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E-Mail : |
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|
Website : |
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|
Location : |
Owned |
|
|
|
|
Corporate Office : |
Patcon House, 80 ft. Road, Near Patcon Circle, Anand – 388001, Gujarat,
India |
|
Tel. No.: |
91-2692-245801/ 802/ 803 |
|
Fax No.: |
91-2692-245804 |
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E-Mail : |
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Branch Office : |
1, Anubhuti Apartments, 82, Swastik Society, Behind St. Xavier’s
Ladies Hostel, Navrangpura, Ahmedabad – 380009, Gujarat, India |
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Tel. No.: |
91-79-26462879 |
|
E-Mail : |
DIRECTORS
As on 17.09.2010
|
Name : |
Mr. Pravinbhai Vithalbhai Patel |
|
Designation : |
Whole-Time Director |
|
Address : |
“Ishavashyam” ,
23 – B, Vidyut Nagar Society, Amin Marg, Rajkot - 360001, Gujarat, India |
|
Date of Birth/Age : |
05.10.1960 |
|
Date of Appointment : |
13.04.2004 |
|
DIN No.: |
00008911 |
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|
|
|
Name : |
Mr. Arvindbhai Vithalbhai Patel |
|
Designation : |
Managing Director |
|
Address : |
“Radhevi Krupa”,
Near Nehru Baug, Abhyoday Park Society, Anand, Gujarat, India |
|
Date of Birth/Age : |
10.04.1965 |
|
Date of Appointment : |
02.04.2007 |
|
DIN No.: |
00009089 |
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|
|
|
Name : |
Mr. Dineshbhai Pragjibhai Vaviya |
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Designation : |
Whole-Time Director |
|
Address : |
B – 2, Krishna
Flats, Navrangpura, Behind Navrangpura Telephone Exchange, Ahmedabad – 380009,
Gujarat, India |
|
Date of Birth/Age : |
17.11.1967 |
|
Date of Appointment : |
13.04.2004 |
|
DIN No.: |
00009097 |
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Name : |
Mr. Madhubhai Pragjibhai Vaviya |
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Designation : |
Whole-Time Director |
|
Address : |
“Radhevi Krupa”,
Near Nehru Baug, Abhyoday Park Society, Anand - 388001, Gujarat, India |
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Date of Birth/Age : |
18.03.1970 |
|
Date of Appointment : |
13.04.2004 |
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DIN No.: |
00009100 |
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|
|
|
Name : |
Mr. Sureshbhai Pragjibhai Vaviya |
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Designation : |
Whole-Time Director |
|
Address : |
“Radhevi Krupa”,
Near Nehru Baug, Abhyoday Park Society, Anand, Gujarat, India |
|
Date of Birth/Age : |
03.06.1972 |
|
Date of Appointment : |
13.04.2004 |
|
DIN No.: |
00009106 |
KEY EXECUTIVES
|
Name : |
Mr. Sandeep |
|
Designation : |
Accountant |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 17.09.2010
|
Names of Shareholders |
No. of Shares |
|
Pravinbhai Vitthalbhai Patel |
1185000 |
|
Arvindbhai Vitthalbhai Patel |
1185000 |
|
Dineshbhai Pragjibhai Vaviya |
380000 |
|
Madhubhai Pragjibhai Vaviya |
380000 |
|
Sureshbhai Pragjibhai Vaviya |
380000 |
|
Smitaben Pravinbhai Patel |
144993 |
|
Kaminiben Arvindbhai Patel |
144997 |
|
Mukesh Rasikbhai Patel |
1 |
|
Hitesh Pragjibhai Patel |
1 |
|
Arvind V. Patel (HUF) |
1 |
|
Pravin V. Patel (HUF) |
1 |
|
Chhaganbhai Busa |
1 |
|
Gordhanbhai Moliya |
1 |
|
Piyushbhai Moliya |
1 |
|
Shantilal A. Patel |
1 |
|
Haridarshan Association, India |
1 |
|
Premilaben Dineshchandra Patel |
1 |
|
|
|
|
Total |
3800000 |
Equity Share Break up (Percentage of Total Equity)
As on 17.09.2010
|
Category |
Percentage |
|
Directors or relatives of Directors |
99.99 |
|
Other top fifty shareholders |
00.01 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
They are engaged into construction activity. |
GENERAL INFORMATION
|
No. of Employees : |
Information
denied by the management |
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Bankers : |
·
Standard Chartered Bank, Ground Floor, Abhijeet
II, Mithakhali Six Roads, Ahmedabad – 380006, Gujarat, India ·
ICICI Bank Limited, Landmark Race Cource Circle,
Alkapuri, Baroda – 390015, Gujarat, India |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
Ketan P. Bhansali Chartered Accountant |
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Address : |
K. P. Bhanshali and Company, 708, Everest Complex, Rajkot – 360001,
Gujarat, India |
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PAN.: |
ABTPB9381B |
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Subsidiaries : |
Patel Highway Management Private Limited |
CAPITAL STRUCTURE
As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4000000 |
Equity Shares |
Rs.10/- each |
Rs.40.000 Millions |
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|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3800000 |
Equity Shares |
Rs.10/- each |
Rs.38.000
Millions |
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|
|
|
|
Notes:
(Of the above, 1900000 equity shares are
issued for consideration other than cash on conversion of firm)
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
38.000 |
38.000 |
38.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
424.034 |
323.021 |
235.985 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
462.034 |
361.021 |
273.985 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
272.119 |
118.640 |
152.336 |
|
|
2] Unsecured Loans |
26.055 |
50.883 |
43.236 |
|
|
TOTAL BORROWING |
298.174 |
169.523 |
195.572 |
|
|
DEFERRED TAX LIABILITIES |
29.513 |
21.453 |
16.677 |
|
|
|
|
|
|
|
|
TOTAL |
789.721 |
551.997 |
486.234 |
|
|
|
|
|
|
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APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
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FIXED ASSETS [Net Block] |
462.861 |
293.722 |
252.871 |
|
|
Capital work-in-progress |
6.623 |
0.000 |
28.323 |
|
|
|
|
|
|
|
|
INVESTMENT |
113.542 |
113.542 |
106.141 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
57.101
|
73.678 |
56.684 |
|
|
Sundry Debtors |
150.107
|
146.711 |
122.891 |
|
|
Cash & Bank Balances |
206.348
|
173.758 |
142.462 |
|
|
Other Current Assets |
200.408
|
141.417 |
101.609 |
|
|
Loans & Advances |
128.691
|
84.069 |
48.592 |
|
Total
Current Assets |
742.655
|
619.633 |
472.238 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
151.367 |
76.655 |
|
|
Other Current Liabilities |
535.960
|
290.850 |
273.663 |
|
|
Provisions |
|
32.683 |
23.021 |
|
Total
Current Liabilities |
535.960
|
474.900 |
373.339 |
|
|
Net Current Assets |
206.695
|
144.733 |
98.899 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
789.721 |
551.997 |
486.234 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Direct Income |
2144.517 |
1814.519 |
1268.817 |
|
|
|
Indirect Income |
12.200 |
19.454 |
9.996 |
|
|
|
TOTAL (A) |
2156.717 |
1833.973 |
1278.813 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Material Sold/Consumed |
607.220 |
558.617 |
386.821 |
|
|
|
Direct Expenses |
1124.061 |
949.826 |
664.740 |
|
|
|
Payment to and provisions for Employees |
73.629 |
50.623 |
40.625 |
|
|
|
Administrative Expenses |
129.807 |
100.751 |
55.124 |
|
|
|
TOTAL (B) |
1934.717 |
1659.817 |
1147.310 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
222.000 |
174.156 |
131.503 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
37.586 |
29.464 |
28.418 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
184.414 |
144.692 |
103.085 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
31.000 |
20.137 |
18.450 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
153.414 |
124.555 |
84.635 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
53.711 |
37.337 |
27.563 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H)
(I) |
99.703 |
87.218 |
57.072 |
|
|
|
|
|
|
|
|
|
Less |
SHORT
PROVISION FOR TAX OF EARLIER YEARS |
(1.309) |
0.182 |
1.676 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
101.012 |
87.036 |
55.396
V |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
26.24 |
22.95 |
15.02 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
4.62
|
4.76 |
4.46 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
7.15
|
6.86 |
6.67 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
12.73
|
13.63 |
11.67 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.33
|
0.35 |
0.31 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.81
|
1.79 |
2.08 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.39
|
1.30 |
1.26 |
LOCAL AGENCY FURTHER INFORMATION
DETAILS OF SUNDRY CREDITORS
(Rs. in Millions)
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
Sundry Creditors |
NA |
151.367 |
76.655 |
|
|
|
|
|
|
TOTAL |
NA |
151.367 |
76.655 |
|
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 |
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 |
Yes |
FORM 8
|
Corporate
identity number of the company |
U45201GJ2004PTC043955 |
|
Name of the
company |
PATEL
INFRASTRUCTURE PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
Patcon House,
Kotecha Chowk, Kalawad Road, Rajkot – 360007, Gujarat, India Email Id : ho@patelinfra.com |
|
This form is for |
Creation of charge |
|
Type of charge |
Movable property (not being pledge) Maruti Suzuki Ritz VDI |
|
Particular of
charge holder |
ICICI Bank Limited, Landmark Race Cource Circle, Alkapuri, Baroda –
390015, Gujarat, India Email Id : shanthi.venkatesan@icicibank.com |
|
Date of
instrument Creating the charge |
25.11.2011 |
|
Amount secured by
the charge |
Rs.0.485 Million |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest 11.24% PER ANNUM Terms of
repayment The Amount of
Loan is repayable in 36 equal monthly installments of Rs.0.015 Million
starting from 15th December, 2011 and ending on 15th November, 2014 Margin Nil Extent and
operation of the charge The Charge extends
on the Maruti Suzuki Ritz VDI Car purchased from loan finance of the ICICI
Bank Limited together with interest coast and charges |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
MARUTI Suzuki
Ritz VDI CAR purchased from the loan finance of ICICI Bank Limited |
FIXED ASSETS
·
Buildings
·
Plant and Machinery
·
Earth Movers
·
Computers
·
Two Wheelers
·
Furniture and Fixtures
·
Motor Vehicles
·
Office Equipment
·
Motor Lories
·
Land
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.54.42 |
|
|
1 |
Rs.88.29 |
|
Euro |
1 |
Rs.71.49 |
INFORMATION DETAILS
|
Information
Gathered by : |
PJA |
|
|
|
|
Report Prepared
by : |
VRN |
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 |
5 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
5 |
|
--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 |
|
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.