MIRA
INFORM REPORT
|
Report Date : |
15.01.2013 |
IDENTIFICATION DETAILS
|
Name : |
ISHAN INFOTECH LIMITED |
|
|
|
|
Registered
Office : |
316, Shivam Complex, Dr. Yagnik Road, Rajkot-360001, Gujarat |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
27.12.2000 |
|
|
|
|
Com. Reg. No.: |
04-039118 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 0.605 million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U72200GJ2000PLC039118 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
RKTI00310C |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACI8683C |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Trader of Computer Peripherals. |
|
|
|
|
No. of Employees
: |
75 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 47000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track record.
Trade relations are reported as fair. Business is active. Payments are
reported to be usually correct and as per commitment. The company can be considered normal 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
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 |
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
|
Name : |
Mr. Rajendra Dave |
|
Designation : |
Account Manager |
|
Contact No.: |
91-281-2468232 |
|
Date : |
15.01.2013 |
LOCATIONS
|
Registered Office : |
316, Shivam Complex, Dr. Yagnik Road, Rajkot-360001, Gujarat, India |
|
Tel. No.: |
91-281-2468232 |
|
Fax No.: |
91-281-2468232 |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
DIRECTORS
As on 29.09.2012
|
Name : |
Mr. Paresh Narendrabhai Kotecha |
|
Designation : |
Director |
|
Date of Birth/Age : |
18.07.1969 |
|
Date of Appointment : |
27.12.2000 |
|
DIN No.: |
00285725 |
|
|
|
|
Name : |
Mr. Pinkesh Narendrabhai Kotecha |
|
Designation : |
Director |
|
Date of Birth/Age : |
18.08.1977 |
|
Date of Appointment : |
27.12.2000 |
|
DIN No.: |
00285714 |
|
|
|
|
Name : |
Mrs. Rupaben Maheshbhai Kotecha |
|
Designation : |
Director |
|
Date of Birth/Age : |
28.08.1968 |
|
Date of Appointment : |
27.12.2000 |
|
DIN No.: |
00285888 |
|
|
|
|
Name : |
Ms. Purvi Pinkeshbhai Kotecha |
|
Designation : |
Director |
|
Date of Birth/Age : |
11.10.1977 |
|
Date of Appointment : |
27.12.2000 |
|
DIN No.: |
00285739 |
|
|
|
|
Name : |
Mr. Mahesh Narendrabhai Kotecha |
|
Designation : |
Director |
|
Date of Birth/Age : |
24.12.1964 |
|
Date of Appointment : |
27.12.2000 |
|
DIN No.: |
00285729 |
|
|
|
|
Name : |
Mr. Keyur Kamlesh Jathal |
|
Designation : |
Director |
|
Address : |
Plot No.483/1, Sector-8, Gandhinagar- 382008, Gujarat, India |
|
Date of Birth/Age : |
21.02.1975 |
|
Date of Appointment : |
07.02.2012 |
|
DIN No.: |
05178716 |
KEY EXECUTIVES
|
Name : |
Mr. Rajendra Dave |
|
Designation : |
Account Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 29.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
Paresh Narendrakotecha |
|
11100 |
|
Pinkesh Narendra Kotecha |
|
12100 |
|
Indiraben Narendra Kotecha |
|
6000 |
|
Mahesh Narendra Kotecha |
|
7100 |
|
Narendra N. Kotecha |
|
9000 |
|
Parul B. Sejpal |
|
1100 |
|
Purvi D. Kotecha |
|
9000 |
|
Rupa Mahesh Kotecha |
|
4000 |
|
Vibha P. Pujara |
|
1100 |
|
Total |
|
60500 |
Equity Share Break up (Percentage of Total Equity)
As on 29.09.2012
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Trader of Computer Peripherals. |
|
|
|
|
Terms : |
|
|
Selling : |
Cash and Credit |
|
|
|
|
Purchasing : |
Cash and Credit |
GENERAL INFORMATION
|
Customers : |
Retailers |
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|
||||||||||||
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No. of Employees : |
75 (Approximately) |
||||||||||||
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||||||||||||
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Bankers : |
·
HDFC Bank, Yagnik Road Branch, Rajkot, Gujarat,
India ·
The Co-Operative Bank of Rajkot Limited,
"Sahakar Sarita", Panchnath Road, Rajkot - 360001, Gujarat, India ·
Bank of Baroda, Tagore Marg, Ruxmani Building,
Near Astron Cinema, Rajkot - 360001, Gujarat, India |
||||||||||||
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||||||||||||
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Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Bipin P. Kotak Chartered Accountants |
|
Address : |
Opposite 15, Panchnath Plot Corner, Moti Tanki-Sadar Road, Rajkot-
360001,
Gujarat, India |
|
Tel. No.: |
91-281-2441764 |
|
PAN No.: |
ADIPK1317R |
CAPITAL STRUCTURE
As on 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
100000 |
Equity Shares |
Rs.10/- each |
Rs. 1.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
60500 |
Equity Shares |
Rs.10/- each |
Rs. 0.605 Million |
|
|
|
|
|
Reconciliation of share capital (Equity)
|
Particulars |
31.03.2012 |
|
|
|
Number |
Rs. in millions |
|
Balance at the beginning of the year |
60500 |
0.605 |
|
Additions / (Deductions) |
0 |
0.000 |
|
Balance at the end of the year |
60500 |
0.605 |
Shareholders holding more than 5% of the shares
|
Particulars |
31.03.2012 |
|
|
|
Number |
Rs.
in millions |
|
Mahesh N. Kotecha |
7100 |
0.71 |
|
Paresh N. Kotecha |
11100 |
0.111 |
|
Pinkesh N. Kotecha |
12100 |
0.121 |
|
Rupa M. Kotecha |
4000 |
0.040 |
|
Narendra N. Kotecha |
9000 |
0.090 |
|
Purvi D. Khanderia |
9000 |
0.090 |
|
Indra N. Kotecha |
6000 |
0.060 |
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 |
0.605 |
0.605 |
0.605 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
11.161 |
9.701 |
8.993 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
11.766 |
10.306 |
9.598 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
7.040 |
1.075 |
1.105 |
|
|
2] Unsecured Loans |
0.011 |
0.011 |
0.011 |
|
|
TOTAL BORROWING |
7.051 |
1.086 |
1.116 |
|
|
DEFERRED TAX LIABILITIES |
0.135 |
0.145 |
0.173 |
|
|
|
|
|
|
|
|
TOTAL |
18.952 |
11.537 |
10.887 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
1.598 |
2.143 |
2.353 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.175 |
0.000 |
0.000 |
|
|
DEFERRED TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
2.293
|
5.463 |
5.471 |
|
|
Sundry Debtors |
35.741
|
19.399 |
7.258 |
|
|
Cash & Bank Balances |
2.910
|
1.457 |
2.114 |
|
|
Other Current Assets |
0.000
|
0.002 |
0.000 |
|
|
Loans & Advances |
1.714
|
1.785 |
1.538 |
|
Total
Current Assets |
42.658
|
28.106 |
16.381 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
19.931
|
14.032 |
5.835 |
|
|
Other Current Liabilities |
5.409
|
4.595 |
1.713 |
|
|
Provisions |
0.139
|
0.085 |
0.299 |
|
Total
Current Liabilities |
25.479
|
18.712 |
7.847 |
|
|
Net Current Assets |
17.179
|
9.394 |
8.534 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
18.952 |
11.537 |
10.887 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
97.671 |
88.797 |
59.962 |
|
|
|
Other Income |
2.814 |
1.702 |
0.351 |
|
|
|
TOTAL (A) |
100.485 |
90.499 |
60.313 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Purchase of services and goods |
81.443 |
78.986 |
59.031 |
|
|
|
Changes in inventories of trading goods |
3.170 |
0.008 |
|
|
|
|
Employee benefit expenses |
8.538 |
5.870 |
|
|
|
|
Other expenses |
4.126 |
3.743 |
|
|
|
|
TOTAL (B) |
97.277 |
88.607 |
59.031 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
3.208 |
1.892 |
1.282 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
0.487 |
0.165 |
0.224 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
2.721 |
1.727 |
1.058 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
0.503 |
0.618 |
0.620 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
2.218 |
1.109 |
0.438 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
0.758 |
0.400 |
0.160 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
1.460 |
0.709 |
0.278 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
24.13 |
11.71 |
4.59 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
1.45
|
0.78 |
0.46 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
2.27
|
1.25 |
0.73 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
5.01
|
3.67 |
2.34 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.19
|
0.11 |
0.05 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
2.76
|
1.92 |
0.93 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.67
|
1.50 |
2.09 |
LOCAL AGENCY FURTHER INFORMATION
SUNDRY CREDITORS
DETAILS:
|
Particulars |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
(Rs. In Millions) |
||
|
|
|
|
|
|
Trade Payables |
19.931
|
14.032 |
5.835 |
|
|
|
|
|
|
Total |
19.931
|
14.032 |
5.835 |
|
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 |
No |
|
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 |
Note:
The registered office of the company has been shifted from 302
Dhanrajnidr Yagnik Road, Rajkot-360001 Gujarat, India to the present address
w.e.f. 11.11.2011
UNSECURED LOANS
|
Unsecured Loan |
31.03.2012 (Rs.
in Millions) |
31.03.2011 (Rs.
in Millions) |
|
From shareholder (It is
considered as long term as there is no stipulation for the terms of repayment
and it is most likely to be repaid after one year) |
0.011 |
0.011 |
|
Total |
0.011 |
0.011 |
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate identity number of the company |
U72200GJ2000PLC039118 |
|
Name of the company |
ISHAN INFOTECH LIMITED |
|
Address of the registered office or of the principal place of business in India of the company |
316, Shivam Complex, Dr. Yagnik Road, Rajkot-360001, Gujarat, India Email: bipinkotak2005@yahoo.co.in
|
|
This form is for |
Creation of Charge |
|
Type of charge |
·
Book debts ·
Movable property (not being pledge) |
|
Particular of charge holder |
The Co-Operative
Bank of Rajkot Limited, "Sahakar Sarita", Panchnath Road, Rajkot -
360001, Gujarat, India Email: rajbank@yahoo.com |
|
Nature of instrument creating charge |
Hypothication of all types of stocks and book debts. |
|
Date of instrument Creating the charge |
02.11.2011 |
|
Amount secured by the charge |
Rs. 7.000 millions |
|
Brief of the principal terms an conditions and extent and operation of
the charge |
Rate of Interest 13% p.a. Terms of Repayment on demand Margin 25% for cash credit ( stocks and book debts upto 90 days ) Extent and Operation of the charge 100% i.e. the charge shall remain in operation till full repayment
with interest.if any |
|
Short particulars of the property or asset(s) charged (including
complete address and location of the property) |
Inventory / stocks in hand , book debts. |
FIXED ASSETS
·
Computer
·
Computer / Internet
·
Computer software
·
Electric fitting
·
Furniture and Fixtures
·
DG Generator set
·
Air Conditioner
·
Office Equipments
·
LG TV
·
EPABX and Telephone
·
Mobile Instrument
·
Sony Digital Camera
·
NIKON Digital Camera
·
Sony Digital Camera
·
Vehicle
·
Motor car (Honda City)
·
Motor car (Maruti Zen)
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.54.64 |
|
|
1 |
Rs.88.17 |
|
Euro |
1 |
Rs.73.13 |
INFORMATION DETAILS
|
Information
Gathered by : |
PJA |
|
|
|
|
Report Prepared
by : |
MRI |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
45 |
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.