MIRA INFORM REPORT
|
Report Date : |
14.06.2013 |
IDENTIFICATION DETAILS
|
Name : |
POLYNATE FOAMS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
No. 102, Kadaregere Cross, Magadi Main Road, Dasanapura
Hobli, Bangalore – 560091, Karnataka |
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|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 |
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|
|
|
Date of
Incorporation : |
05.09.1985 |
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|
|
|
Com. Reg. No.: |
08-007131 |
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|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 0.764
Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24130KA1985PTC007131 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
BLRP01718D |
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|
|
|
Legal Form : |
Private Limited Liability Company |
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|
|
|
Line of Business
: |
Manufacturer of Rigid Polyurethane Insulation Products. |
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|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (41) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 19600 |
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|
|
|
Status : |
Satisfactory |
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|
|
Payment Behaviour : |
Usually 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 fair. Business is active. Payment terms are
usually correct. The company can be considered 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 |
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/ Factory 1 : |
No. 102, Kadaregere Cross, Magadi Main Road, Dasanapura
Hobli, Bangalore – 560091, Karnataka, India |
|
Tel. No.: |
91-80-64560128 |
|
Fax No.: |
91-80-28536542 |
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E-Mail : |
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|
Website : |
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|
|
|
Factory 2 : |
# 120/1, 10th Cross, Pete Chennappa Industrial Estate,
Kamashipalaya, Bangalore - 560079, Karnataka, India |
|
Tel. No.: |
91-80-23489097 |
|
Fax No.: |
91-80-23489097 |
|
E-Mail : |
DIRECTORS
AS ON 29.09.2012
|
Name : |
Mr. Balakrishnan Uppath |
|
Designation : |
Director |
|
Address : |
102, 1st Floor, Raj Merdian No. 99G, 20th Main,
2nd Cross, KHB Colony, Bangalore
- 560095, Karnataka, India |
|
Date of Birth/Age : |
19.03.1964 |
|
Date of Appointment : |
30.09.1995 |
|
DIN No.: |
00391451 |
|
|
|
|
Name : |
Mr. Haridas Uppath |
|
Designation : |
Director |
|
Address : |
361, Shantham, Dr. Ambedkar College Road, KB Sandra, RT Nagar,
Bangalore – 560032, Karnataka, India |
|
Date of Birth/Age : |
23.10.1950 |
|
Date of Appointment : |
05.09.1985 |
|
DIN No.: |
00352475 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 29.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
|
|
|
|
Balakrishnan Uppath |
|
2175 |
|
Maya Balakrishnan |
|
372 |
|
Haridas Uppath |
|
2013 |
|
Shantha Haridas |
|
532 |
|
Sukumaran Parakkel |
|
2345 |
|
Sudha Sukumaran |
|
200 |
|
|
|
|
|
Total |
|
7637 |
AS ON 29.09.2012
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Directors
or relatives of directors |
|
66.68 |
|
Other
top fifty shareholders |
|
33.32 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Rigid Polyurethane Insulation Products. |
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Products/ Services : |
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Brand Name : |
‘UREFOAM’` |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
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Bankers : |
State Bank of
India, SME City Credit Centre, # 20, Badaga Nadu Sangha Building, Kumara
Park, Bangalore - 560020, Karnataka, India |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
|
|
Name : |
Vishnu Ram and Company Chartered Accountants |
|
Address : |
No. 12, II Floor, Sri Siddhi Plaza, Margosa Road, Malleswaram, Bangalore –
560003, Karnataka, India |
|
Tel. No.: |
91-80-23568910 |
|
Fax No.: |
91-80-23568916 |
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E-Mail : |
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|
Income-tax
PAN of auditor or auditor's firm : |
AAGPV2924A |
CAPITAL STRUCTURE
AS ON 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10,000 |
Equity Shares |
Rs. 100/- each |
Rs. 1.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
7,637 |
Equity Shares |
Rs. 100/- each |
Rs. 0.764
Million |
|
|
|
|
|
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 |
|
0.764 |
0.764 |
|
(b) Reserves & Surplus |
|
4.135 |
2.805 |
|
(c) Money received against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share
Application money pending allotment |
|
0.000 |
0.000 |
|
|
|
|
|
|
(3) Non-current liabilities |
|
|
|
|
(a) long-term borrowings |
|
2.421 |
1.207 |
|
(b) Deferred tax liabilities (Net) |
|
0.000 |
0.000 |
|
(c)
Other long term liabilities |
|
0.000 |
0.000 |
|
(d)
long-term provisions |
|
0.000 |
0.000 |
|
|
|
|
|
|
(4)
Current liabilities |
|
|
|
|
(a)
Short term borrowings |
|
1.097 |
2.020 |
|
(b)
Trade payables |
|
3.595 |
2.096 |
|
(c)
Other current liabilities |
|
3.091 |
2.653 |
|
(d)
Short-term provisions |
|
0.887 |
0.611 |
|
TOTAL |
|
15.990 |
12.156 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
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(a)
Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
6.703 |
4.551 |
|
(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 |
|
0.062 |
0.062 |
|
(c) Deferred tax assets
(net) |
|
0.047 |
0.212 |
|
(d) Long-term Loan and Advances |
|
0.620 |
0.620 |
|
(e) Other Non-current assets |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
0.000 |
0.000 |
|
(b) Inventories |
|
0.412 |
0.843 |
|
(c) Trade receivables |
|
6.365 |
4.827 |
|
(d) Cash and cash
equivalents |
|
0.001 |
0.011 |
|
(e) Short-term loans and
advances |
|
1.780 |
1.030 |
|
(f) Other current assets |
|
0.000 |
0.000 |
|
TOTAL |
|
15.990 |
12.156 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
0.764 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
1.455 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
2.219 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
4.385 |
|
|
2] Unsecured Loans |
|
|
1.190 |
|
|
TOTAL BORROWING |
|
|
5.575 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
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TOTAL |
|
|
7.794 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
4.995 |
|
|
Capital work-in-progress |
|
|
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.061 |
|
|
DEFERREX TAX ASSETS |
|
|
0.369 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
1.815 |
|
|
Sundry Debtors |
|
|
2.690 |
|
|
Cash & Bank Balances |
|
|
0.011 |
|
|
Other Current Assets |
|
|
0.520 |
|
|
Loans & Advances |
|
|
0.755 |
|
Total
Current Assets |
|
|
5.791 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
2.832 |
|
|
Other Current Liabilities |
|
|
0.496 |
|
|
Provisions |
|
|
0.094 |
|
Total
Current Liabilities |
|
|
3.422 |
|
|
Net Current Assets |
|
|
2.369 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
7.794 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
38.588 |
30.556 |
10.155 |
|
|
|
Other Income |
0.000 |
0.000 |
0.000 |
|
|
|
TOTAL (A) |
38.588 |
30.556 |
10.155 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
|
34.134 |
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL (B) |
34.134 |
26.578 |
10.055 |
|
|
|
|
|
|
|
|
Less |
PROFIT/
[LOSS] BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
4.454 |
3.978 |
0.100 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
0.545 |
0.811 |
0.553 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
[LOSS] BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
3.909 |
3.167 |
(0.453) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
1.083 |
1.051 |
1.170 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ [LOSS]
BEFORE TAX (E-F) (G) |
2.826 |
2.116 |
(1.623) |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
1.052 |
0.766 |
(0.391) |
|
|
|
|
|
|
|
|
|
|
PROFIT/ [LOSS]
AFTER TAX (G-H) (I) |
1.774 |
1.350 |
(1.232) |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
2.778 |
1.428 |
2.660 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
4.552 |
2.778 |
1.428 |
|
|
|
|
|
|
|
|
|
|
Earnings/ [Loss]
Per Share (Rs.) |
232.22 |
176.71 |
(161.35) |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
4.60
|
4.42 |
(12.13) |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
7.32
|
6.92 |
(15.98) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
18.52
|
18.79 |
(15.05) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.58
|
0.59 |
(0.73) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.72
|
4.22 |
2.51 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.99
|
0.91 |
1.69 |
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 |
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 |
UNSECURED LOANS
|
Unsecured Loans |
31.03.2012 |
31.03.2011 |
|
|
(Rs. In Millions) |
|
|
SHORT TERM BORROWINGS |
|
|
|
Loans and advances from related parties |
0.000 |
1.337 |
|
Total |
0.000 |
1.337 |
Note:
The registered office of the company has been shifted from # 120/1, 10th Cross, Pete Chennappa Industrial Estate, Kamashipalaya, Magadi Road, Bangalore - 560079, Karnataka, India to the present w.e.f.15.04.2008
FUTURE PROSPECTS:
Barring unforeseen circumstances the Company is hopeful of increasing
the level of turnover achieved in the years.
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate
identity number of the company |
U24130KA1985PTC007131 |
|
Name of the
company |
POLYNATE FOAMS PRIVATE
LIMITED |
|
Address of the
registered office or of the principal place of business in |
No. 102, Kadaregere Cross, Magadi Main Road, Dasanapura Hobli, Bangalore – 560091, Karnataka, India Email: vishnuram@vishnuram.in
|
|
This form is for |
Modification of charge |
|
Charge
identification number of the modified |
10102539 |
|
Type of charge |
Book debts Others [Hypothecation of stock and receivables] |
|
Particular of
charge holder |
State Bank of
India, SME City Credit Centre, # 20, Badaga Nadu Sangha Building, Kumara
Park, Bangalore - 560020, Karnataka, India Email: sureviet@gmail.com |
|
Nature of description
of the instrument creating or modifying the charge |
Supplemental
agreement of loan cum Hypothecation, Letter of arrangement. |
|
Date of
instrument Creating the charge |
28.02.2012 |
|
Amount secured by
the charge |
Rs. 6.150
Millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest WORKING CAPITAL :
6.5% Margin above base rate 10% p.a effective rate being 16.5% p.a at monthly
rests. TERM LOAN : 7% margin
above base rate 10% p.a effective rate being 17% p.a at monthly rests. Terms of Repayment WORKING CAPITAL :
Repayable on demand. TERM LOAN : First
36 monthly installment of Rs 10,000 each, next 23 months of Rs 0.012 Million
each and last installment of Rs 0.014 Million effective from November 2010. Margin FUND BASED
LIMITS: Raw Materials, indigenous stocks-25% NON-FUND BASED
LIMITS: Letter of Credit-25%, Bank Guarantees-25% Extent and Operation of the charge Exclusive charge
on stock and receivables of the company till the closure of the loan. Others Cash credit-2.500
Millions, Term loan-0.650 Million, Letter of credit-2.500 Millions, Bank
guarantee-0.500 Million, Total: Rs 6.150 Millions. |
|
Short particulars
of the property charged |
Hypothecation of
stock and receivables. Collateral
security of residential flat of Smt. Shantha Haridas situated at 1036/361,
"Shantha Apartments", (Municipal No.95 New No. 66) Ambedkar Medical
College Road, Kavalbyrasandra, Bangalore. |
|
Date of Modification |
17.08.2010 |
|
Particulars of
the present modification |
The amount
secured by the charge is modified and
stands as follows: Cash Credit - Rs.
2.500 Millions, Term loan reduced to Rs. 0.650 Million, Letter of credit- Rs.
2.500 Millions and Bank Guarantee- Rs.0.500 Million |
FIXED ASSETS:
ö Air Conditioner
ö Building
ö Vehicles
ö Computer and
Accessories
ö Electrical
Fittings
ö Office Equipment
ö Loose Tools and
Equipments
ö Generator
ö Safety Equipments
ö Plant and
Machinery
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. 58.41 |
|
|
1 |
Rs. 91.62 |
|
Euro |
1 |
Rs. 78.12 |
INFORMATION DETAILS
|
Report Prepared
by : |
BVA |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
4 |
|
--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 |
|
DEFAULTERS |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
41 |
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.