MIRA
INFORM REPORT
|
Report Date : |
13.07.2013 |
IDENTIFICATION DETAILS
|
Name : |
XOL TECHNOLOGIES PRIVATE LIMITED (w.e.f. 04.06.2010) |
|
|
|
|
Formerly Known
As : |
TEK ELECTROMECHANICAL PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
‘TE Park’ 22B, Doddenakundi Industrial Area, Whitefield Road,
Bangalore – 560 048, Karnataka |
|
|
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|
Country : |
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|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
05.04.1988 |
|
|
|
|
Com. Reg. No.: |
25-063917 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 30.000 millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U31909KA1988PTC063917 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Connectors and Inter-Connection Devices. |
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|
|
|
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 510000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
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|
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|
Litigation : |
Clear |
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|
Comments : |
Subject is an established company having satisfactory track record.
The company has incurred a loss in the current year. However, networth of the
company is satisfactory. Trade relations are reported as fair. Business is
active. Payments are reported to be slow but correct. 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.
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.: 91-20-66405300)
LOCATIONS
|
Registered Office : |
‘TE Park’ 22B, Doddenakundi Industrial Area, Whitefield Road,
Bangalore – 560048, Karnataka, India |
|
Tel. No.: |
91-20-66405300 |
|
Fax No.: |
91-20-66405302 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Factory : |
Located at Pune |
DIRECTORS
As on 31.08.2012
|
Name : |
Mr. Ravi Krishna Sastry |
|
Designation : |
Director |
|
Address : |
311, BCC Layout, 8th Main Road, Vijaynagar, Bangalore –
560040, Karnataka, India |
|
Date of Birth/Age : |
21.02.1976 |
|
Date of Appointment : |
31.08.2011 |
|
DIN No.: |
00332491 |
|
|
|
|
Name : |
Mr. Viswanath Srinivasan |
|
Designation : |
Director |
|
Address : |
No. 401, The Good Earth, 1 Cambridge, 2nd Cross Road,
Ulsoor 51st Division, Bangalore – 560008, Karnataka, India |
|
Date of Birth/Age : |
29.12.1965 |
|
Date of Appointment : |
03.06.2011 |
|
DIN No.: |
01758140 |
|
|
|
|
Name : |
Bukanakere Subrahmanyam Krishnaprasad |
|
Designation : |
Director |
|
Address : |
38 / F1, Padma Apartment. 8th Main Road, Bangalore –
560003, Karnataka, India |
|
Date of Birth/Age : |
24.03.1966 |
|
Date of Appointment : |
03.06.2011 |
|
DIN No.: |
03532304 |
|
|
|
|
Name : |
Mr. Sameer Ravikant Pagnis |
|
Designation : |
Director |
|
Address : |
481/B, Swanand Building 2, Flat No. 17, Parvati Darshan, Aapli
Sahakari, Griharachana Sanstha Maryadit, Pune – 411009, Maharashtra, India |
|
Date of Birth/Age : |
19.05.1971 |
|
Date of Appointment : |
18.08.2011 |
|
DIN No.: |
03576690 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 31.08.2012
|
Names of Shareholders |
|
No. of Shares |
|
TE Connectivity India Private Limited, India |
|
299999 |
|
Tyco Electronics Systems India Private Limited, India |
|
1 |
|
TOTAL |
|
300000 |
As on 31.08.2012
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s),
Non-resident Indian(s) or Overseas Corporate bodies or Others |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Connectors and Inter-Connection Devices. |
PRODUCTION STATUS (AS ON 31.03.2011)
|
Particulars |
Unit |
Actual Production |
|
Indegenous
|
|
|
|
Wire Connectors |
Nos. |
-- |
|
20 Pair Modular Connectors |
Nos. |
-- |
|
Automotive Connectors |
Nos. |
12492145.00 |
|
Automotive – Moulded Components |
Nos. |
24699906.00 |
|
Automotive – Stamped Components |
Nos. |
75848263.00 |
|
Other – Moulded Components |
Nos. |
273286.00 |
|
Other – Stamped Components |
Nos. |
28080582.00 |
|
Press Tools |
Nos. |
16.00 |
|
Injection Moulds |
Nos. |
37.00 |
|
Crimping Moulds |
Nos. |
-- |
|
Raw Material |
Nos. |
457.00 |
|
Aerospace Components |
Nos. |
688503.00 |
|
Fuse Boxes |
Nos. |
921486.00 |
|
Miscellaneous |
Nos. |
148470.00 |
|
Export
|
|
|
|
Injection Moulds |
Nos. |
3.00 |
|
Stamped Components |
Nos. |
18703.00 |
|
Moulded Components |
Nos. |
82615.00 |
|
Press Tools |
Nos. |
-- |
|
Aerospace Components |
Nos. |
182606.00 |
|
Automotive Connectors |
Nos. |
-- |
|
Other – Moulded Components |
Nos. |
-- |
|
Other – Stamped Components |
Nos. |
-- |
GENERAL INFORMATION
|
No. of Employees : |
Information declined by management |
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Bankers : |
· Union Bank of India Bank of Maharashtra, Deccan Branch Bank of Maharashtra, Camp Branch, Khudamurad Building,
Sachapir Street Camp, Pune – 411001, Maharashtra, India |
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Facilities : |
|
|
|
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Banking
Relations : |
-- |
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|
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|
Auditors : |
|
|
Name : |
Deloitte Haskins and Sells Chartered Accountants |
|
Address : |
Deloitte Center, 100/2, Richmond Road, Bangalore – 560025, Karnataka,
India |
|
Tel. No.: |
91-80-66276000 |
|
Fax No.: |
91-80-66276011 |
|
PAN No.: |
AACFD3771D |
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|
|
|
Holding Company : |
TE Connectivity India Private Limited [Formally Tyco Electronics
Corporation India Private Limited (From 03.06.2011)] CIN No. : U31909KA1993PTC015007] |
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Fellow Subsidiaries : |
· Tyco Electronics Logistics AG Tyco Electronics AMP Korea Limited, Korea Tyco Electronics Corporation, USA Tyco Electronics AMP GmbH |
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|
|
|
Enterprise where KMP has significant influence : |
TEK Components Private Limited |
CAPITAL STRUCTURE
As on 31.08.2012
Authorized Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
300000 |
Equity Shares |
Rs. 100/- each |
Rs. 30.000 millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
300000 |
Equity Shares |
Rs. 100/- each |
Rs. 30.000
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 |
|
30.000 |
30.000 |
|
(b) Reserves & Surplus |
|
97.808 |
112.097 |
|
(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) |
|
127.808 |
142.097 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
0.000 |
20.041 |
|
(b) Deferred tax liabilities (Net) |
|
0.000 |
5.109 |
|
(c) Other long term liabilities |
|
0.000 |
0.000 |
|
(d) long-term provisions |
|
1.977 |
4.140 |
|
Total Non-current Liabilities (3) |
|
1.977 |
29.290 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
|
150.000 |
73.792 |
|
(b) Trade payables |
|
52.620 |
69.220 |
|
(c) Other current
liabilities |
|
20.610 |
38.776 |
|
(d) Short-term provisions |
|
0.291 |
5.788 |
|
Total Current Liabilities (4) |
|
223.521 |
187.576 |
|
|
|
|
|
|
TOTAL |
|
353.306 |
358.963 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
130.268 |
183.937 |
|
(ii) Intangible Assets |
|
2.076 |
1.924 |
|
(iii) Capital
work-in-progress |
|
9.168 |
2.800 |
|
(iv)
Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
0.010 |
0.010 |
|
(c) Deferred tax assets (net) |
|
8.908 |
0.000 |
|
(d) Long-term Loan and Advances |
|
1.107 |
1.382 |
|
(e) Other Non-current assets |
|
0.000 |
0.000 |
|
Total Non-Current Assets |
|
151.537 |
190.053 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
0.000 |
0.000 |
|
(b) Inventories |
|
55.345 |
43.712 |
|
(c) Trade receivables |
|
125.787 |
109.461 |
|
(d) Cash and cash
equivalents |
|
12.152 |
6.400 |
|
(e) Short-term loans and
advances |
|
8.485 |
9.294 |
|
(f) Other current assets |
|
0.000 |
0.043 |
|
Total Current Assets |
|
201.769 |
168.910 |
|
|
|
|
|
|
TOTAL |
|
353.306 |
358.963 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
6.554 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
109.332 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
115.886 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
91.405 |
|
|
2] Unsecured Loans |
|
|
49.292 |
|
|
TOTAL BORROWING |
|
|
140.697 |
|
|
DEFERRED TAX LIABILITIES |
|
|
7.039 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
263.622 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
190.752 |
|
|
Capital work-in-progress |
|
|
(0.512) |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.000 |
|
|
DEFERREX TAX ASSETS |
|
|
0.000 |
|
|
4 |
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
49.033 |
|
|
Sundry Debtors |
|
|
96.961 |
|
|
Cash & Bank Balances |
|
|
0.145 |
|
|
Other Current Assets |
|
|
17.871 |
|
|
Loans & Advances |
|
|
1.155 |
|
Total
Current Assets |
|
|
165.165 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
54.954 |
|
|
Other Current Liabilities |
|
|
17.791 |
|
|
Provisions |
|
|
19.038 |
|
Total
Current Liabilities |
|
|
91.783 |
|
|
Net Current Assets |
|
|
73.382 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
263.622 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
|
|
|
|
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
417.733 |
445.585 |
314.568 |
|
|
|
Other Income |
NA |
NA |
NA |
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
NA |
69.747 |
45.949 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
NA |
28.977 |
29.074 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS) BEFORE TAX |
NA |
40.770 |
16.875 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
NA |
14.559 |
6.378 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
AFTER TAX |
(14.289) |
26.211 |
10.497 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
46.312 |
51.059 |
22.450 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials including Components and Spare Parts |
84.944 |
71.152 |
|
|
|
|
Capital Goods |
7.650 |
11.474 |
|
|
|
TOTAL IMPORTS |
92.594 |
82.626 |
77.774 |
|
|
|
|
|
|
|
|
|
|
Earnings/(Loss)
Per Share (Rs.) |
(47.63) |
87.37 |
160.16 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
NA
|
9.15 |
5.36 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
NA
|
11.45
|
4.74 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
NA
|
0.29
|
0.15 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.17
|
0.66
|
1.21 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.90
|
0.90
|
1.80 |
LOCAL AGENCY FURTHER INFORMATION
SUNDRY CREDITORS
|
Particulars |
31.03.2012 (Rs.
in Millions) |
31.03.2011 (Rs.
in Millions) |
31.03.2010 (Rs.
in Millions) |
|
|
|
|
|
|
Trade Payable |
52.620 |
69.220 |
54.954 |
|
|
|
|
|
|
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 |
No |
CORPORATE
INFORMATION
Subject is a private limited company incorporated under the provision of
the companies act, 1956. The company is engaged in manufacture of connectors
and inter-connection devices. The registered office of the company is in
Bangalore and has manufacturing facility in Pune. During the year, the company
became a subsidiary of Tyco Electronics Corporation India Private Limited.
STATE OF AFFAIRS:
The company’s total income as on March 31, 2012, was Rs. 417.733
millions. The loss for the year after taxes was Rs. 14.289 millions. The loss
for the year is mainly on account of accelerated depreciation.
UNSECURED LOAN
|
Particulars |
31.03.2012 (Rs.
in Millions) |
31.03.2011 (Rs.
in Millions) |
|
Short term
borrowings |
|
|
|
Loan from related party |
150.000 |
8.807 |
|
Loan from others |
0.000 |
29.148 |
|
Total |
150.000 |
37.955 |
CONTINGENT
LIABILITIES:
|
PARTICULARS |
31.03.2012 (Rs.
in Millions) |
31.03.2011 (Rs.
in Millions) |
|
Sales Tax Matters |
0.000 |
1.049 |
|
Guarantee provided in connection with loans taken by the erstwhile directors |
0.000 |
19.500 |
FIXED ASSETS
·
Freehold Land
·
Buildings
·
Plant and Machinery
·
Air Conditioner
·
Electrical Installation
·
Tools, Dies and
Equipments
·
Office Equipment
·
Furniture and Fixtures
·
Computer and Software
·
Vehicles
·
Data processing Equipment
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.59.90. |
|
|
1 |
Rs.90.88 |
|
Euro |
1 |
Rs.78.32 |
INFORMATION DETAILS
|
Information
Gathered by : |
PDT |
|
|
|
|
Report Prepared
by : |
MRI |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
4 |
|
--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 |
|
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 |
|
|
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.