MIRA
INFORM REPORT
|
Report Date : |
13.06.2013 |
IDENTIFICATION DETAILS
|
Name : |
KAIL LIMITED (w.e.f. 21.11.2008) |
|
|
|
|
Formally Known
As : |
KITCHEN APPLIANCES INDIA LIMITED |
|
|
|
|
Registered
Office : |
Auto Cars Compound, Adalat Road, Aurangabad – 431005, Maharashtra |
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Country : |
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|
|
Financials (as
on) : |
30.06.2012 |
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|
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Date of
Incorporation : |
23.08.1995 |
|
|
|
|
Com. Reg. No.: |
11-131152 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 376.100 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U99999MH1995PLC131152 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMK10651E |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACK7417L |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Manufacturing and Trading of Electrical and Electronic Appliances |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (46) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 19485000 |
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|
|
|
Status : |
Satisfactory |
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|
|
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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 a satisfactory track
record. Company has been successful in wiping off its loss recorded during
2012. Financial position appears to be sound. Trade relations are fair. Business is active. Payments terms are
reported as usually 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.
ECGC Country Risk Classification List – March 31st, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating Explanation |
Care has suspended the rating with immediate
effect as the company has not furnished the information required by CARE for
monitoring of the ratings. |
|
Date |
November 15, 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 DENIED BY
MANAGEMENT NON – COOPERATIVE (91-33-24695446)
LOCATIONS
|
Registered Office : |
Auto Cars Compound, Adalat Road, Aurangabad – 431005, Maharashtra,
India |
|
Tel. No.: |
Not Available |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
|
|
|
Office/ Factory1 : |
No. 1, Tatla Road, Near Police Station, Garden Reach. Kolkata –
700024, West Bengal, India |
|
Tel. No.: |
91-33-24695446 |
|
|
|
|
Factory2 : |
Sector – V, Block-BP, Salt Lake, City, Kolkata – 700091, West Bengal,
India |
|
Tel. No.: |
91-33-23672874 / 4612 / 4613 |
|
Fax No.: |
91-33-23672876 |
DIRECTORS
As on 29.12.2012
|
Name : |
Mr. Shankar Sonaji Khande |
|
Designation : |
Additional Director |
|
Address : |
Plot No. C – 20, Ramkrishna Colony, Savedi, Near Markendiya Society,
Ahmednagar – 414003, Maharashtra, India |
|
Date of Birth/Age : |
01.11.1964 |
|
Date of Appointment : |
05.01.2012 |
|
DIN No.: |
02884148 |
|
|
|
|
Name : |
Mr. Sanjay Shambhuprasad Mehra |
|
Designation : |
Additional Director |
|
Address : |
P. No. 51 Swapna Nagari, S. No. 70/2, Behind Kasliwal Corner, N-2 Area CIDCO, Aurangabad – 431003,
Maharashtra, India |
|
Date of Birth/Age : |
22.04.1953 |
|
Date of Appointment : |
05.01.2012 |
|
DIN No.: |
02840800 |
|
|
|
|
Name : |
Mr. Satish Balkisan Mawal |
|
Designation : |
Additional Director |
|
Address : |
6144, Sarjepura, Ward No. 12, Tal – Nagar, Ahemednagar – 414001,
Maharashtra, India |
|
Date of Birth/Age : |
04.03.1957 |
|
Date of Appointment : |
05.01.2012 |
|
DIN No.: |
02750111 |
KEY EXECUTIVES
|
Name : |
Ms. Anagha Milind Joshi |
|
Designation : |
Secretary |
|
Address : |
G -001, Vrundavan Heights, Opposite Guruganesh Nagar, Kothrud, Pune –
411029, Maharashtra, India |
|
Date of Birth/Age : |
16.11.1988 |
|
Date of Appointment : |
10.10.2012 |
|
PAN No. : |
AKNPJ1784F |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 29.12.2012
|
Names of Shareholders |
No. of Shares |
|
Videocon Industries Limited |
1521000 |
|
Value Industries Limited |
4186000 |
|
Dome – Bell electronics India Private Limited |
6515000 |
|
Shree Dhool Trading and Agencies Limited |
5657000 |
|
Force Appliances Private Limited |
6009900 |
|
Century Appliances Limited |
2286830 |
|
Greenfield Appliances Limited |
985400 |
|
Platinum Appliances Private Limited |
985400 |
|
TekCare India Private Limited |
3135500 |
|
Synergy Appliances Private Limited
|
827900 |
|
Tusker Overseas Inc. |
4000000 |
|
Evans Frazer and Company (India) Limited |
1000000 |
|
Nippon Investment and Finance Company Private Limited |
500000 |
|
Suresh M. Hegde |
70 |
|
|
|
|
Total |
37610000 |
As on 29.12.2012
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s),
Non-resident Indian(s) or Overseas Corporate bodies or Others |
10.64 |
|
Bodies corporate |
89.36 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
The Company is primarily engaged in manufacturing and trading of
Electrical and Electronic Appliances. |
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Products : |
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GENERAL INFORMATION
|
No. of Employees : |
Not Available |
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Bankers : |
IDBI Bank Limited, IDBI Tower, WTC complex, Cuffe Parade, Mumbai –
400005, Maharashtra, India |
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Facilities : |
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Banking Relations : |
-- |
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|
Financial Institution : |
SBICAP Trustee Compant Limited, 202, Maker Tower ‘E’ Cuffe Parade,
Colaba, Mumbai – 400005, Maharashtra, India |
|
|
|
|
Auditors : |
|
|
Name : |
Kadam and Company Chartered Accountants |
|
Address : |
Vedant, 8/9, Viraj estate, Opp. Tarakpur Bus Stand, Ahmednagar –
414003, Maharashtra, India |
|
PAN.: |
AAIFK3708R |
|
|
|
|
Associates : |
Techno Electronics Limited CIN No. U11204MH2007PLC171196 |
CAPITAL STRUCTURE
As on 30.06.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
45000000 |
Equity Shares |
Rs.10/- each |
Rs. 450.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
37610000 |
Equity Shares |
Rs.10/- each |
Rs. 376.100
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
30.06.2012 |
30.06.2011 |
30.06.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
376.100 |
376.100 |
376.100 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
4495.266 |
4864.624 |
4545.243 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
4871.366 |
5240.724 |
4921.343 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
1187.660 |
1938.035 |
4727.841 |
|
|
2] Unsecured Loans |
7758.983 |
6788.612 |
1850.000 |
|
|
TOTAL BORROWING |
8946.643 |
8726.647 |
6577.841 |
|
|
DEFERRED TAX LIABILITIES |
127.313 |
330.827 |
292.176 |
|
|
|
|
|
|
|
|
TOTAL |
13945.322 |
14298.198 |
11791.360 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
3112.024 |
2357.638 |
2631.049 |
|
|
Capital work-in-progress |
4407.407 |
4149.302 |
904.927 |
|
|
|
|
|
|
|
|
INVESTMENT |
3783.392 |
3986.588 |
2472.227 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
3782.448
|
3365.384 |
3321.632 |
|
|
Sundry Debtors |
2517.002
|
2872.820 |
2852.122 |
|
|
Cash & Bank Balances |
731.136
|
544.366 |
964.508 |
|
|
Other Current Assets |
26.438
|
14.023 |
105.211 |
|
|
Loans & Advances |
487.502
|
541.648 |
387.197 |
|
Total
Current Assets |
7544.526
|
7338.241 |
7630.670 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
2751.796
|
2461.367 |
542.583 |
|
|
Other Current Liabilities |
2069.666
|
919.273 |
1185.254 |
|
|
Provisions |
80.565
|
152.931 |
119.676 |
|
Total
Current Liabilities |
4902.027
|
3533.571 |
1847.513 |
|
|
Net Current Assets |
2642.499
|
3804.670 |
5783.157 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
13945.322 |
14298.198 |
11791.360 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
30.06.2012 |
30.06.2011 |
30.06.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
18915.298 |
19532.360 |
18927.192 |
|
|
|
Other Income |
60.298 |
30.475 |
27.910 |
|
|
|
TOTAL (A) |
18975.596 |
19562.835 |
18955.102 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
459.100 |
952.990 |
|
|
|
|
Purchases of stock-in-trade |
16151.011 |
15251.469 |
|
|
|
|
Changes in
inventories of finished goods, work-in-progress and stock-in-trade |
(317.038) |
(55.817) |
|
|
|
|
Employee benefit expense |
206.806 |
254.568 |
|
|
|
|
Other expenses |
1648.909 |
1379.386 |
|
|
|
|
TOTAL (B) |
18148.787 |
17782.596 |
17464.016 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
826.809 |
1780.239 |
1491.086 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
1157.499 |
1049.962 |
779.070 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
(330.691) |
730.277 |
712.016 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
291.832 |
280.843 |
271.600 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
(622.523) |
449.434 |
440.416 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
(253.165) |
130.054 |
337.937 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
(369.358) |
319.380 |
102.479 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
2804.203 |
2514.823 |
2452.344 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
NA |
30.000 |
40.000 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
2434.845 |
2804.203 |
2514.823 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
NA |
1536.393 |
1718.645 |
|
|
TOTAL IMPORTS |
NA |
1536.393 |
1718.645 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
(9.82) |
8.49 |
9.68 |
|
KEY RATIOS
|
PARTICULARS |
|
30.06.2012 |
30.06.2011 |
30.06.2010 |
|
PAT / Total Income |
(%) |
(1.95)
|
1.63 |
0.54 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
(3.29)
|
2.30 |
2.32 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(5.84)
|
4.63 |
4.29 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.12)
|
0.08 |
0.09 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
1.84
|
1.66 |
1.34 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.54
|
2.08 |
4.13 |
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 |
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 |
No |
|
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 |
UNSECURED LOAN:
|
Particulars |
30.06.2012 (Rs.
In Millions) |
30.06.2011 (Rs.
In Millions) |
|
|
|
|
|
Term loans from others |
4958.333 |
4541.667 |
|
Rupee term loans from banks |
0.000 |
499.996 |
|
Working capital loans from banks |
2800.650 |
1746.949 |
|
|
|
|
|
Total |
7758.983 |
6788.612 |
BANKER CHARGES
REPORT AS PER REGISTRY:
|
Corporate
identity number of the company |
U99999MH1995PLC131152 |
|
Name of the
company |
KAIL
LIMITED |
|
Address of the
registered office or of the principal place of business in |
Auto Cars Compound, Adalat Road, Aurangabad – 431005, Maharashtra,
India E-Mail info@kail.co.in |
|
This form is for |
Creation of charge |
|
Type of charge |
Uncalled share
capital Immovable
property Any interest in
immovable property Book debts Movable property
(not being pledge) Floating charge Others Calls made but
not paid Goodwill Patent, license
under a patent Trademark Copyright |
|
Particular of
charge holder |
SBICAP Trustee Compant Limited, 202, Maker Tower ‘E’ Cuffe Parade,
Colaba, Mumbai – 400005, Maharashtra, India E-Mail corporate@sbicaptrustee.com |
|
Nature of instrument
creating charge |
Indenture
of Mortgage dated April 19, 2013 executed by KAIL Limited (the Company) in
favour of SBICAP Trustee Company Limited, the Onshore Security Trustee acting
for and on behalf of all the Rupee Term Loan Lender Banks. |
|
Date of
instrument Creating the charge |
19.04.2013 |
|
Amount secured by
the charge |
Rs. 174720.000 Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Margin: NIL Extent and
operation of the charge: The Charge operates as inter alia, security for
the due repayment, redemption and discharge of RTL Facility availed by the
Company together with group Companies from the Lenders together with all
interest, additional interest, default interest and any other amounts, fees,
costs, charges, expenses and other monies due and payable to the Lender under
various Financing Documents. Others: As
agreed to between the Company and all the Lender Banks from time to time. (List
of Lender Banks is attached in Schedule 2 to Indenture of Mortgage |
|
Short particulars
of the property charged (Including location of the property) |
i.
The Part of piece and parcel of land
measuring about 10 acres, 1 bhiga, 13 cottah, 10 chittaks and 10 sq ft
including buildings, garage etc admeasuring 14852.16 sq.mtr. be the same a
little more or less, situated at Mouza Ramnagar, P.S. Garden Reach, being
premises no. 1, Taratolla Road, Kolkata 700024 all of Company's movables,
plant and machinery all rights, title, interest, benefit, claims and demands
whatsoever in respect of Accounts, operating cash flows, receivable all other
assets of the Company, including cash in hand, investments made by Company
General Assets of the Company |
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. 58.27 |
|
|
1 |
Rs.91.16 |
|
Euro |
1 |
Rs.77.50 |
INFORMATION DETAILS
|
Information
Gathered by : |
PDT |
|
|
|
|
Report Prepared
by : |
ANK |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--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 |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
46 |
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.