MIRA INFORM REPORT

 

 

Report Date :

31.01.2013

 

IDENTIFICATION DETAILS

 

Name :

ATLANTA ELECTRICALS PRIVATE LIMITED (w.e.f.31.03.2003)

 

 

Formerly Known As :

ATLANTA ELECTRICALS LIMITED (w.e.f.10.04.1996)

 

ATLANTA ELECTRICALS PRIVATE LIMITED

 

 

Registered Office :

A-6, Avani Park, Near Rajesh Tower, Gotri Road, Baroda – 390021, Gujarat

 

 

Country :

India

 

 

Financials (as on) :

31.03.2012

 

 

Date of Incorporation :

15.12.1988

 

 

Com. Reg. No.:

04-011648

 

 

Capital Investment / Paid-up Capital :

Rs. 72.395 Millions

 

 

CIN No.:

[Company Identification No.]

U31110GJ1988PTC011648

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

BRDA01777G

 

 

PAN No.:

[Permanent Account No.]

AABCA6647B

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Manufacturer of Power Distribution Transformer.

 

 

No. of Employees :

Not Available

 

 

RATING & COMMENTS

 

MIRA’s Rating :

B (36)

 

RATING

STATUS

 

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Maximum Credit Limit :

USD 650000

 

 

Status :

Moderate

 

 

Payment Behaviour :

Slow but correct

 

 

Litigation :

Clear

 

 

Comments :

Subject is an established company having a moderate track record. There is continuous dip in the profitability which impact the liquidity position of the company.

 

The rating also takes into consideration the weak debt protection and modest scale of operations.

 

However, trade relations are reported to be fair. Business is active. Payments are reported to be 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 – June 30, 2012

 

Country Name

Previous Rating

(31.03.2012)

Current Rating

(30.06.2012)

India

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

 

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

CRISIL

Rating

Long Term Bank facilities : (CRISIL) B

Rating Explanation

Having high risk of default regarding timely servicing of financial obligation. 

Date

October 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 :

A-6, Avani Park, Near Rajesh Tower, Gotri Road, Baroda – 390021, Gujarat, India

Tel. No.:

91-265-2399441

Fax No.:

Not Available

E-Mail :

sales@atlantaelectricals.com

Websites:

www.atlantaelectricals.com 

Location :

Owned

 

 

Head Office/ Factory :

Plot No. 1503/4, GIDC Estate, Vithal Udyognagar, Anand – 388121, Gujarat, India

Tel. No.:

91-2692-235023 / 237185

Fax No.:

91-2692-237203

 

 

Branches :

Located at:

 

Ø       Mumbai

Ø       Hyderabad

Ø       Chennai

Ø       Kolkata

Ø       Patna

 

 

DIRECTORS

 

AS ON 29.09.2012

 

Name :

Mr. Harshadbhai Amritlal Mehta

Designation :

Chairman cum Managing director

Address :

Amrut Bungalow, B/h H.K. Chamber, Vallabh Vidhyanagar – 388120, District Anand, Gujarat, India

Date of Birth/Age :

16.01.1949

Date of Appointment :

15.12.1988

PAN No.:

ACWPM5311L

DIN No.:

00218444

 

 

Name :

Mr. Harendra Gulabchand Shah

Designation :

Whole-time director

Address :

Parshwa, Plot No. 294/2, B/h Milestone Town Hall Road, Vallabh Vidhyanagar – 388120, District Anand, Gujarat, India

Date of Birth/Age :

31.01.1942

Date of Appointment :

15.12.1988

PAN No.:

AACPS4586M

DIN No.:

00215540

 

 

Name :

Mr. Krupeshbhai Narharibhai Patel

Designation :

Whole-time director

Address :

15, Parishram Society, Subhanpura, Baroda – 390007, Gujarat, India

Date of Birth/Age :

17.10.1954

Date of Appointment :

27.07.2002

PAN No.:

ADHPP6422D

DIN No.:

00213143

 

 

Name :

Mr. Navinbhai Natubhai Patel

Designation :

Whole-time director

Address :

23, Rokadnath Society, Race Course Circle, Baroda – 390007, Gujarat, India

Date of Birth/Age :

23.06.1945

Date of Appointment :

27.07.2002

PAN No.:

ACXPP6848G

DIN No.:

00213094

 

 

Name :

Mr. Niral Krupeshbhai Patel

Designation :

Director

Address :

15, Parishram Society, Subhanpura, Baroda – 390007, Gujarat, India

Date of Birth/Age :

10.02.1980

Date of Appointment :

27.07.2002

PAN No.:

ACQPP6163R

DIN No.:

00213356

 

 

Name :

Mr. Tanmay Surendrabhai Patel

Designation :

Director

Address :

15, Parishram Society, Subhanpura, Baroda – 390007, Gujarat, India

Date of Birth/Age :

18.12.1976

Date of Appointment :

27.07.2002

PAN No.:

ACZPP3911E

DIN No.:

00213319

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

AS ON 29.09.2012

 

Names of Shareholders

 

No. of Shares

 

Harold B. D’silva

 

27750

Harshad  A. Mehta J/h Gitaben H. Mehta

 

59000

Harendra G. Shah J/h Priti H. Shah J/h Hemang G. Shah

 

64300

Nimish H. Shah J/h Harendra G. Shah

 

9300

Navin N. Patel

 

68950

Sudhaben N. Patel

 

68950

Krupesh N. Patel

 

55148

Niral K. Patel

 

48458

Amish K. Patel

 

51801

Tanmay S. Patel

 

51828

Lalitaben  N. Patel

 

21363

Amod Stampings Private Limited, India

 

2

Hemang H. Shah J/h Shital H. Shah

 

3400

Dhaval H. Mehta J/h Avance D. Mehta

 

5800

Geetaben H. Mehta J/h Harshad  A. Mehta

 

8700

Devsmita P. Patel

 

1

Dhavani P. Patel

 

1

Priyani P. Patel

 

1

Shivagini P. Patel

 

1

Smitaben K. Patel

 

51802

Pooja N. Patel

 

21363

Ripa A. Patel

 

21363

Varshaben S. Patel

 

51801

Chaitali T. Patel

 

21363

Fabtech Fabricators Private Limited, India

 

11500

Total

 

723946

 

 

AS ON 29.09.2012

 

Equity Share Breakup

 

Percentage of Holding

Category

 

 

Directors or relatives of directors

 

96.00

Other top fifty shareholders

 

4.00

Total

 

100.00

 

 

BUSINESS DETAILS

 

Line of Business :

Manufacturer of Power Distribution Transformer.

 

 

Products :

ITC Code

Product Descriptions

99546192

Eraction

85040000

Transformers

99834430

Testing

99871520

Repairs

 

 

PRODUCTION STATUS (AS ON 31.03.2011)

 

Particulars

Unit

Licensed Capacity

Installed Capacity (MVA)

Actual Production

Electrical Transformer

In Nos.

Not Applicable

7200

157

 

 

GENERAL INFORMATION

 

Customers :

Ø       Gujarat Energy Transmission Corporation Limited

Ø       Maharashtra State Electricity Board

Ø       Rajasthan State Electricity Board

Ø       Bihar State Electricity Board

Ø       Suzlon Energy Limited

Ø       Vestas Wind Technology (India) Limited

Ø       RRB (India) Limited

Ø       Elecon Engineering Company Limited

Ø       Electrotherm (India) Limited

Ø       Inductotherm (India) Limited

Ø       Pillar Induction Furnaces Limited

Ø       Viraj Profiles Limited

Ø       Refex Energy Private Limited

Ø       Suntechnics Energy Systems Private Limited

Ø       A2Z Powercom Limited

Ø       Jyoti Limited

Ø       Voith Hydro Private Limited

Ø       Hindustan Petroleum Corporation Limited

Ø       A2Z Maintenance and Engineering Services Limited

Ø       Samay Electronics Private Limited

Ø       National Dairy Development Board

 

 

No. of Employees :

Not Available

 

 

Bankers :

Ø       Bank of Baroda

Ø       State Bank of India

 

 

Facilities :

 

Secured Loans

31.03.2012

31.03.2011

 

 

(Rs. In Millions)

Loans repayable on demand from banks

16.061

28.103

Loans repayable on demand from others

0.360

0.864

Loans repayable on demand

231.476

151.111

Total

247.897

180.078

 

 

 

Banking Relations :

--

 

 

Financial Institution :

Kotak Mahindra Prime Limited

 

 

Auditors :

 

Name :

K. C. Mehta and Company

Chartered Accountants

Address :

2nd Floor , Meghdhanush, Race Course, Vadodara-390007, Gujarat, India

Tel. No.:

91-265-2341626/ 3086400

Fax No.:

91-265-3086444/ 455/ 466

Income-tax PAN of auditor or auditor's firm :

AABFK1558J

 

 

Associates :

Ø       Champs Engineering

Ø       Shyam Engineering

Ø       Amod Steel Processors

Ø       Fabtech Engineering Private Limited [U31908MH2012PTC228282]

Ø       Amod Stampings Private Limited [U17119GJ1995PTC025300]

 

 

CAPITAL STRUCTURE

 

AS ON 31.03.2012

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

2,000,000

Equity Shares

Rs. 100/- each

Rs. 200.000 Millions

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

723,946

Equity Shares

Rs. 100/- each

Rs. 72.395 Millions

 

 

 

 

 

Note:

 

Shares alloted as fully paid up by way of Bonus Shares (During five years preceeding March 31st, 2012)

 

Equity Shares no. 270,000 were issued as fully paid up Bonus Shares by way of capitalisation of Profit during FY 2008-2009

 

Right, preferences and restrictions attached to shares

 

For all matters submitted to vote in a shareholders meeting of the Company every holder of an equity share as reflected in the of the Company on the date of the shareholders meeting shall have one vote in respect of each share held. Any dividend declared by the company shall be paid to each holder of Equity shares in proportion to the number of shares held to total equity shares outstanding as on that date. In the event of liquidation of the Company all preferential amounts if any shall be discharged by the Company. The remaining assets of the Company shall be distributed to the holders of equity shares in proportion to the number of shares held to the total equity shares outstanding as on that date.

 

 

 

 

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

72.395

48.829

45.000

2] Share Application Money

0.000

0.000

0.000

3] Reserves & Surplus

90.772

59.100

36.727

4] (Accumulated Losses)

0.000

0.000

0.000

NETWORTH

163.167

107.929

81.727

LOAN FUNDS

 

 

 

1] Secured Loans

247.897

180.078

169.481

2] Unsecured Loans

69.760

101.602

91.130

TOTAL BORROWING

317.657

281.680

260.611

DEFERRED TAX LIABILITIES

8.609

6.817

5.555

 

 

 

 

TOTAL

489.433

396.426

347.893

 

 

 

 

APPLICATION OF FUNDS

 

 

 

 

 

 

 

FIXED ASSETS [Net Block]

156.898

157.618

160.109

Capital work-in-progress

0.000

0.445

0.000

 

 

 

 

INVESTMENT

2.769

2.769

0.768

DEFERRED TAX ASSETS

0.000

0.000

0.000

 

 

 

 

CURRENT ASSETS, LOANS & ADVANCES

 

 

 

 

Inventories
388.385

331.423

237.499

 

Sundry Debtors
403.820

234.552

275.444

 

Cash & Bank Balances
68.953

61.658

63.198

 

Other Current Assets
4.866

1.168

0.000

 

Loans & Advances
15.562

36.324

47.954

Total Current Assets
881.586

665.125

624.095

Less : CURRENT LIABILITIES & PROVISIONS
 

 

 

 

Sundry Creditors
508.897

349.459

324.493

 

Other Current Liabilities
31.009

57.569

79.144

 

Provisions
11.914

22.503

33.442

Total Current Liabilities
551.820

429.531

437.079

Net Current Assets
329.766

235.594

187.016

 

 

 

 

MISCELLANEOUS EXPENSES

0.000

0.000

0.000

 

 

 

 

TOTAL

489.433

396.426

347.893

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

31.03.2012

31.03.2011

31.03.2010

 

SALES

 

 

 

 

 

Income

 

 

 

Other Income

 

 

 

 

 

TOTAL                                    

899.477

686.477

555.035

 

 

 

 

 

Less

EXPENSES

 

 

 

 

 

TOTAL                                    

803.222

584.931

452.603

 

 

 

 

 

Less

PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION

96.255

101.546

102.432

 

 

 

 

 

Less

FINANCIAL EXPENSES                        

77.198

59.375

45.045

 

 

 

 

 

 

PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION

19.057

42.171

57.387

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION                    

6.470

6.156

5.747

 

 

 

 

 

Less

PRIOR PERIOD ITEMS

0.059

0.102

0.075

 

 

 

 

 

Add

EXTRA ORDINARY ITEM

0.000

1.776

3.817

 

 

 

 

 

 

PROFIT BEFORE TAX

12.528

37.689

55.382

 

 

 

 

 

Less

TAX                                                                 

7.032

13.539

17.626

 

 

 

 

 

 

PROFIT AFTER TAX

5.496

24.150

37.756

 

 

 

 

 

 

PREVIOUS YEARS’ BALANCE BROUGHT FORWARD

39.156

28.855

10.761

 

 

 

 

 

 

APPROPRIATIONS

 

 

 

 

 

Transfer to General Reserve

0.550

2.500

3.900

 

 

Dividend

1.810

9.765

13.500

 

 

Tax on Dividend

0.294

1.584

2.294

 

BALANCE CARRIED TO THE B/S

41.998

39.156

28.823

 

 

 

 

 

 

EARNINGS IN FOREIGN CURRENCY

 

 

 

 

 

Export Earnings

2.940

0.000

0.000

 

 

 

 

 

 

IMPORTS

 

 

 

 

 

Raw Materials

0.000

38.320

0.000

 

 

Stores & Spares

0.158

0.000

0.000

 

 

Capital Goods

0.000

0.000

0.788

 

TOTAL IMPORTS

0.158

38.320

0.788

 

 

 

 

 

 

Earnings Per Share (Rs.)

11.24

49.71

75.42

 

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2012

31.03.2011

31.03.2010

PAT / Total Income

(%)
0.61

3.52

6.80

 

 
 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)
1.21

4.58

7.06

 

 
 

 

 

Return on Investment (ROI)

(PBT/Networth)

 
0.08

0.35

0.68

 

 
 

 

 

Debt Equity Ratio

(Total Debt/Networth)

 
1.95

2.61

3.19

 

 
 

 

 

Current Ratio

(Current Asset/Current Liability)

 
1.60

1.55

1.43

 

 

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

Yes

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

Yes

33]

Voter ID No of Proprietor/Partner/Director, if available

No

34]

External Agency Rating, if available

Yes

 

 

UNSECURED LOANS

 

Unsecured Loans

31.03.2012

31.03.2011

 

 

(Rs. In Millions)

Loans and advances from related parties

69.760

101.602

Total

69.760

101.602

 

 

CONTINGENT LIABILITIES:

(Rs. in millions)

Particulars

31.03.2012

31.03.2011

Bank Guarantee

359.150

212.221

Bill Discounting

--

1.216

Income Tax disputed in appeals and pending decisions before higher authorities.

11.680

7.904

Letter of Credit

100.617

35.745

Liability against company not acknowledged as Debt

24.103

24.103

 

 

FIXED ASSETS:

 

Tangible Assets

Ø       Land

Ø       Building

Ø       Plant and Machinery

Ø       Electrical Installation

Ø       Furniture and Fixture

Ø       Office Equipment

Ø       Gas Installation

Ø       Computers

Ø       Testing Equipments

Ø       Vehicles

 

Intangible Assets

Ø       Computer software

 

CMT REPORT (Corruption, Money Laundering & Terrorism]

 

The Public Notice information has been collected from various sources including but not limited to: The Courts, India Prisons Service, Interpol, etc.

 

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. 53.57

UK Pound

1

Rs. 84.37

Euro

1

Rs. 72.23

 

 

INFORMATION DETAILS

 

Report Prepared by :

BVA

 

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

4

PAID-UP CAPITAL

1~10

4

OPERATING SCALE

1~10

4

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

4

--PROFITABILIRY

1~10

4

--LIQUIDITY

1~10

4

--LEVERAGE

1~10

4

--RESERVES

1~10

4

--CREDIT LINES

1~10

4

--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

 

36

 

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

-

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.