MIRA
INFORM REPORT
|
Report Date : |
12.07.2013 |
IDENTIFICATION DETAILS
|
Name : |
EQUINOX SOLUTIONS LIMITED (w.e.f 24.06.1985) |
|
|
|
|
Formerly Known
As : |
KELVIN METAL KRAFTS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
41, Nobles A Building, |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
08.10.1984 |
|
|
|
|
Com. Reg. No.: |
04-007317 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 10.945 millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U29190GJ1984PLC007317 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
AHME00545G AHME00491B |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACK6136C |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Trader and Importer of Food and Beverages Equipments and Spare Parts |
|
|
|
|
No. of Employees
: |
Information declined by management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (42) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 170000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Slow but correct |
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|
|
|
Litigation : |
Clear |
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|
|
|
Comments : |
Subject is an established company having a satisfactory track record.
Trade relations are reported to be fair. Business is active. Payments are
reported to be slow but correct. The company can be considered for normal 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.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
|
Rating |
Cash Credit : “BB-” |
|
Rating Explanation |
Having moderate risk of default regarding timely servicing of
financial obligation. |
|
Date |
March, 2013 |
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
MANAGEMENT NON-COOPERATIVE (Tel. No.: 91-79-26431214)
LOCATIONS
|
Registered Office : |
41, Nobles A Building, |
|
Tel. No.: |
91-79-26400472 / 26431214 / 26561113 / 26400473 |
|
Fax No.: |
91-79-26561770 |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
2000 Sq.ft. |
|
Location : |
Owned |
|
|
|
|
Head Office : |
303, Swagat, Near Lal Bungalow, |
|
Tel. No.: |
91-79-26431214 |
DIRECTORS
As on 29.09.2012
|
Name : |
Mr. Naishadh Indrakant Parikh |
|
Designation : |
Managing Director |
|
Address : |
Krishna Kunj, Shahibaug, Ahmedabad – 380004, |
|
Date of Birth/Age : |
02.10.1954 |
|
Date of Appointment : |
01.04.2003 |
|
DIN : |
00009314 |
|
|
|
|
Name : |
Mr. Indrakant Trikamlal Parikh |
|
Designation : |
Director |
|
Address : |
Krishna Kunj, Shahibaug, Ahmedabad – 380004, |
|
Date of Birth/Age : |
15.05.1925 |
|
Date of Appointment : |
08.10.1984 |
|
DIN : |
00027247 |
|
|
|
|
Name : |
Mrs. Neena Naishadh Parikh |
|
Designation : |
Managing Director |
|
Address : |
Krishna Kunj, Shahibaug, Ahmedabad – 380004, |
|
Date of Birth/Age : |
24.01.1954 |
|
Date of Appointment : |
01.04.2003 |
|
DIN : |
00180972 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 29.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
Naishadh Indrakant Parikh |
|
44000 |
|
Avikal Investments Private Limited, |
|
1040600 |
|
Neena Naishadh Parikh |
|
4950 |
|
Indrakant Trikamlal Parikh |
|
1650 |
|
Anokhee Naishadh Parikh |
|
1650 |
|
Aneri Naishadh Parikh |
|
1650 |
|
Total |
|
1094500 |
As on 29.09.2012
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
Bodies corporate |
95.08 |
|
Directors or relatives of Directors |
4.92 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Trader and Importer of Food and Beverages Equipments and Spare Parts |
GENERAL INFORMATION
|
No. of Employees : |
Information declined by management |
||||||||||||
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||||||||||||
|
Bankers : |
State Bank of India, Law Garden Branch, Zodiac Avenue, Opposite Commisioner's Bunglow, Law Garden, Ahmedabad - 380006, Gujarat, India |
||||||||||||
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||||||||||||
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Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
N.C.Shah Thakkar and Company Chartered Accountants |
|
Address : |
106, Sears Tower, Off. C.G.Road, Near White House, Gulbai Tekra,
Ahmedabad – 380006, Gujarat, India |
|
PAN No. : |
AAFFN1453P |
|
|
|
|
Associates : |
Equinox Brands Private Limited |
|
|
|
|
Enterprise in which Key management personnel is able to exercise
significant influence : |
Perfect Connection Private Limited Suvik Electronics Private Limited Krupa Holdings Private Limited |
CAPITAL STRUCTURE
As on 31.03.2012
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1099500 |
Equity Shares |
Rs.10/-each |
Rs.10.995 millions |
|
5000 |
Preference Shares |
Re. 1/-each |
Rs.0.005 million |
|
|
|
|
|
|
|
Total |
|
Rs.11.000
millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1094500 |
Equity Shares |
Rs.10/-each |
Rs.10.945 millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2012 |
31.03.2011 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
10.945 |
10.945 |
|
(b) Reserves & Surplus |
|
30.705 |
29.095 |
|
(c) Money
received against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
|
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
|
41.650 |
40.040 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
36.074 |
24.527 |
|
(b) Deferred tax liabilities (Net) |
|
0.000 |
0.046 |
|
(c) Other long term liabilities |
|
0.000 |
0.000 |
|
(d) long-term provisions |
|
0.000 |
0.000 |
|
Total Non-current Liabilities (3) |
|
36.074 |
24.573 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
|
0.000 |
8.394 |
|
(b) Trade payables |
|
27.213 |
27.086 |
|
(c) Other current
liabilities |
|
20.477 |
1.290 |
|
(d) Short-term provisions |
|
2.302 |
3.643 |
|
Total Current Liabilities (4) |
|
49.992 |
40.413 |
|
|
|
|
|
|
TOTAL |
|
127.716 |
105.026 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
5.746 |
6.526 |
|
(ii) Intangible Assets |
|
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
|
0.000 |
0.000 |
|
(iv)
Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
0.311 |
0.311 |
|
(c) Deferred tax assets (net) |
|
0.068 |
0.000 |
|
(d) Long-term Loan and Advances |
|
28.244 |
29.282 |
|
(e) Other Non-current assets |
|
0.000 |
0.000 |
|
Total Non-Current Assets |
|
34.369 |
36.119 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
0.000 |
0.001 |
|
(b) Inventories |
|
47.552 |
31.668 |
|
(c) Trade receivables |
|
23.503 |
19.083 |
|
(d) Cash and cash
equivalents |
|
3.907 |
6.159 |
|
(e) Short-term loans and
advances |
|
18.295 |
11.857 |
|
(f) Other current assets |
|
0.090 |
0.139 |
|
Total Current Assets |
|
93.347 |
68.907 |
|
|
|
|
|
|
TOTAL |
|
127.716 |
105.026 |
|
Particulars |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
10.945 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
28.225 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
39.170 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
31.301 |
|
|
2] Unsecured Loans |
|
|
2.636 |
|
|
TOTAL BORROWING |
|
|
33.937 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.037 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
73.144 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
8.001 |
|
|
Capital work-in-progress |
|
|
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.311 |
|
|
DEFERREX TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
22.397
|
|
|
Sundry Debtors |
|
|
15.356
|
|
|
Cash & Bank Balances |
|
|
4.409
|
|
|
Other Current Assets |
|
|
0.000 |
|
|
Loans & Advances |
|
|
51.378
|
|
Total
Current Assets |
|
|
93.540
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
16.626
|
|
|
Other Current Liabilities |
|
|
2.286
|
|
|
Provisions |
|
|
9.796
|
|
Total
Current Liabilities |
|
|
28.708
|
|
|
Net Current Assets |
|
|
64.832
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
73.144 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
140.760 |
123.054 |
142.094 |
|
|
|
Other Income |
2.984 |
3.614 |
1.946 |
|
|
|
TOTAL (A) |
143.744 |
126.668 |
144.040 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Purchases of Stock in Trade |
103.897 |
|
|
|
|
|
Employee Benefit Expenses |
18.331 |
16.115 |
|
|
|
|
Other Expenses |
22.916 |
12.879 |
|
|
|
|
Changes in inventories of stock in trade |
(10.826) |
0.221 |
|
|
|
|
TOTAL (B) |
134.318 |
117.879 |
134.754 |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (A-B) (C) |
9.426 |
8.789 |
9.286 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
5.811 |
5.875 |
3.967 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
3.615 |
2.914 |
5.319 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
1.414 |
1.507 |
2.037 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F) (G) |
2.201 |
1.407 |
3.282 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
0.591 |
0.537 |
1.014 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-H) (I) |
1.610 |
0.870 |
2.268 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
27.438 |
26.568 |
24.300 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
29.048 |
27.438 |
26.568 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Project income |
15.426 |
|
|
|
|
|
Trading income |
0.587 |
0.522 |
|
|
|
|
FOB Value of Export |
0.000 |
0.987 |
|
|
|
TOTAL EARNINGS |
16.013 |
2.182 |
0.237 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Goods Traded |
73.346 |
69.140 |
82.389 |
|
|
TOTAL IMPORTS |
73.346 |
69.140 |
82.389 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
1.47 |
0.79 |
2.07 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
1.12
|
0.69 |
1.57 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
1.56
|
1.14 |
2.31 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.73
|
1.34 |
3.23 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.05
|
0.04 |
0.08 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.87
|
0.82 |
0.87 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.87
|
1.71 |
3.26 |
LOCAL AGENCY FURTHER INFORMATION
SUNDRY CREDITORS
DETAILS:
|
Particulars |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
(Rs. In Millions) |
||
|
For Goods, Services and Other Expenses |
27.213 |
27.086 |
16.626 |
|
Total |
27.213 |
27.086 |
16.626 |
|
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 |
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 |
Yes |
NOTE
The registered office of the company has been shifted from 9th
Floor, “Abhijeet”, Mithakhali Six Road, Ahmedabad – 380006, Gujarat, India to
the present address w.e.f. 21.01.2003
BUSINESS OPERATIONS
The Profit after Taxation in 2011-12 amounted to Rs. 1.610 millions as compared to Rs. 0.870 million earned in 2010-11. Improvement in margins has impacted on the profitability during the year as compared to previous year.
The working of the company would continue to improve in the years to come.
CHANGE IN THE
COMPANY'S STATUS
The company has become a subsidiary of Avikal Tradelink Private Limited (previously known as Avikal Investments Private Limited) upon merger of Equinox Brands Private Limited and Krupa Holdings Private Limited with Avikal Investments Private Limited with effect from 01.04.2011.
UNSECURED LOANS
|
Particulars |
31.03.2012 (Rs.
in Millions) |
31.03.2011 (Rs.
In Millions) |
|
Long term
borrowings |
|
|
|
Deposit from dealers |
0.000 |
0.235 |
|
Inter corporate deposit |
7.725 |
0.00 |
|
Short term
borrowings |
|
|
|
Loan from directors |
0.000 |
3.340 |
|
Inter Corporate Deposit |
0.000 |
5.054 |
|
Total |
7.725 |
8.629 |
CONTINGENT
LIABILITIES:
(Rs. in millions)
a) Estimated value of contracts on capital account excluding capital advances, remaining to be executed and not provided for, amount to Rs. 8.797 millions (Previous Year Rs. 8.797 millions)
b) Guarantees issued by Banks on behalf of the company Rs. 4.675 millions (Previous year Rs. Nil)
FIXED ASSETS
· Plant and Machinery
Computer
Office
Equipments
Electric
Installation
Furniture
and Fixtures
Car
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.59.64 |
|
|
1 |
Rs.90.04 |
|
Euro |
1 |
Rs.77.99 |
INFORMATION DETAILS
|
Information Gathered
by : |
SVA |
|
|
|
|
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 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--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 |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
42 |
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 |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.