MIRA
INFORM REPORT
|
Report Date : |
02.03.2013 |
IDENTIFICATION DETAILS
|
Name : |
PRAVEEN LABORATORIES PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
720, 7th Floor, Golden Point, Near Gajjar Chambers, Falsawadi,
Ring Road, Surat – 395003, Gujarat |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
27.07.1995 |
|
|
|
|
Com. Reg. No.: |
04-026878 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.4.000
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U65910GJ1995PTC026878 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
SRTP00173F |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCP3994N |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
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|
|
|
Line of Business
: |
Manufacturer of Active Ingredients and Intermediates. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 110000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
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 reported as fair. Business is active. Payments are reported
to be usually correct and as per commitments. 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 – June 30, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
|
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 |
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 : |
720, 7th Floor, Golden Point, Near Gajjar Chambers,
Falsawadi, Ring Road, Surat-395003, Gujarat, India |
|
Tel. No.: |
91-261-2322816/ 2411220/ 6622816 |
|
Mobile No.: |
91-9879616871 (Mr. Maheshchandra Manharlal Vakharia) |
|
Fax No.: |
91-261-6641275 |
|
E-Mail : |
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|
Website : |
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|
|
|
|
Factory : |
Block No.206, Jolwa, Taluka Palsana, District Surat, Gujarat, India |
|
Tel No.: |
91-2622-276143/ 651043 |
|
Fax No.: |
91-2622-273134 |
DIRECTORS
(AS ON 30.09.2012)
|
Name : |
Mr. Maheshchandra Manharlal Vakharia |
|
Designation : |
Managing Director |
|
Address : |
Flat No. 301, Vrundavan Opposite Gokul Raw House, Near Old Umranaka, Surat-395007,
Gujarat, India |
|
Date of Birth/Age : |
03.07.1951 |
|
Date of Appointment : |
27.07.1995 |
|
DIN No.: |
00281830 |
|
|
|
|
Name : |
Mr. Hetul Krishnakant Mehta |
|
Designation : |
Director |
|
Address : |
D-307, Somnath Enclave Tower, Somnath Mahadev Road, Behind Sargam Shop
ING Center, Parle Point, Surat-395007, Gujarat, India |
|
Date of Birth/Age : |
20.08.1971 |
|
Date of Appointment : |
27.07.1995 |
|
DIN No.: |
01650314 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
(AS ON 30.09.2012)
|
Names of Shareholders |
|
No. of Shares |
|
|
|
|
|
Hetul Krishnakant Mehta |
|
110370 |
|
Krishnakant V. Mehta |
|
34540 |
|
Rakshaben K. Mehta |
|
45000 |
|
Roshani K. Mehta |
|
5040 |
|
Ronak K. Mehta |
|
5050 |
|
Avaya Industries Limited, India |
|
200000 |
|
|
|
|
|
Total |
|
400000 |
(AS ON 30.09.2012)
Equity Shares Break – up
|
Category |
|
Percentage |
|
|
|
|
|
Bodies corporate |
|
50.00 |
|
Directors or relatives of directors |
|
50.00 |
|
|
|
|
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Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Active Ingredients and Intermediates. |
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Products : |
|
GENERAL INFORMATION
|
Suppliers : (As on 31.03.2011) |
·
Ambica Steel ·
Arihant Consultant ·
Bharat Trading Company ·
Chandra Life Sciences Private Limited ·
Dev Krupa Fab ·
Euro Labs ·
Fouji Trading Company ·
Glass Enviro Care Limited ·
Gujarat Enviro Protec Infra Limited ·
Jay Trading Company ·
Kissan Hardware ·
Meet Road Line ·
Raccon Services |
|||||||||||||||||||||
|
|
|
|||||||||||||||||||||
|
Customers : (As on 31.03.2011) |
·
Accent Pharma ·
Bharat Trading Company ·
Cekem Corporation ·
Euresian ·
Glochem Industries Limited ·
Maral Labs ·
Mega Fine Private Limited ·
Mepro Laboratories ·
Parth Overseas ·
Sun Pharma Industries |
|||||||||||||||||||||
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No. of Employees : |
Not Available |
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|
Bankers : |
· City Union Bank Limited G-3, Twin Tower,
Sahara Darwaja, Ring Road, Surat – 395002, Gujarat, India |
|||||||||||||||||||||
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Facilities : |
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Banking
Relations : |
-- |
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|
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Auditors : |
|
|
Name : |
H. R. Mody and Associates Chartered Accountants |
|
Address : |
1, Swagat Complex, Opposite Sneh Milan Garden, Nanpura, Surat –
395001, Gujarat, India |
|
Tel. No.: |
91-261-2463368/ 69 |
|
PAN No.: |
ABLPM2047F |
CAPITAL STRUCTURE
(AS ON 29.09.2012)
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
600000 |
Equity Shares |
Rs.10/- each |
Rs.6.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
400000 |
Equity Shares |
Rs.10/- each |
Rs.4.000 Millions
|
|
|
|
|
|
(AS ON 31.03.2012)
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
400000 |
Equity Shares |
Rs.10/- each |
Rs.4.000
Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
400000 |
Equity Shares |
Rs.10/- each |
Rs.4.000
Millions |
|
|
|
|
|
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 |
4.000 |
4.000 |
4.000 |
|
|
2] Share Application Money |
13.600 |
13.593 |
0.000 |
|
|
3] Reserves & Surplus |
9.543 |
5.647 |
4.642 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
27.143 |
23.240 |
8.642 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
22.579 |
40.198 |
24.797 |
|
|
2] Unsecured Loans |
87.570 |
24.440 |
22.154 |
|
|
TOTAL BORROWING |
110.149 |
64.638 |
46.951 |
|
|
DEFERRED TAX LIABILITIES |
0.449 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
137.741 |
87.878 |
55.593 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
63.961 |
55.607 |
34.146 |
|
|
Capital work-in-progress |
21.100 |
13.368 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.670 |
0.670 |
0.670 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
41.307
|
25.596
|
18.902 |
|
|
Sundry Debtors |
72.087
|
29.030
|
39.909 |
|
|
Cash & Bank Balances |
24.188
|
1.126
|
0.708 |
|
|
Other Current Assets |
0.000
|
0.000
|
0.000 |
|
|
Loans & Advances |
14.001
|
8.016
|
8.571 |
|
Total
Current Assets |
151.583
|
63.768
|
68.090 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditor |
97.229
|
44.567
|
46.175 |
|
|
Other Current Liabilities |
0.306
|
0.186
|
1.138 |
|
|
Provisions |
2.038
|
0.781
|
0.000 |
|
Total
Current Liabilities |
99.573
|
45.534
|
47.313 |
|
|
Net Current Assets |
52.010
|
18.234
|
20.777 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
137.741 |
87.878 |
55.593 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
153.773 |
106.731 |
110.265 |
|
|
|
Other Income |
2.077 |
1.944 |
NA |
|
|
|
TOTAL (A) |
155.850 |
108.675 |
NA |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
105.345 |
|
|
|
|
|
Purchases of Stock in trade |
5.295 |
|
|
|
|
|
Changes in Inventories of finished goods, work-in-progress and stock
in trade |
2.852 |
100.720 |
NA |
|
|
|
Employees Benefits Expenses |
11.985 |
|
|
|
|
|
Other Expenses |
15.086 |
|
|
|
|
|
TOTAL (B) |
140.563 |
100.720 |
NA |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
15.287 |
7.955 |
NA |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
6.373 |
4.417 |
NA |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
8.914 |
3.538 |
NA |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
3.494 |
2.532 |
NA |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
5.420 |
1.006 |
0.702 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
1.501 |
0.000 |
0.408 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
3.919 |
1.006 |
0.294 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
9.80 |
2.51 |
0.74 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
2.51
|
0.93
|
NA |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
3.52
|
0.94
|
0.64 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.51
|
0.84
|
0.69 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.20
|
0.04
|
0.08 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
4.06
|
2.78
|
5.43 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.52
|
1.40
|
1.44 |
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 |
Yes |
|
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 |
No |
|
33] |
Voter ID No of Proprietor/Partner/Director,
if available |
No |
|
34] |
External Agency Rating, if available |
No |
|
Unsecured Loans |
31.03.2012 |
31.03.2011 |
|
|
(Rs. In Millions) |
|
|
|
|
|
|
Other Loans and Advances from Friends and Relatives |
87.570 |
24.440 |
|
|
|
|
|
Total |
87.570 |
24.440 |
NOTE:
The Registered office of the company has been shifted
from, G-105, Vakharia Textile Marketing Road, Surat, Gujarat, India, to the
present address w.e.f. 16.07.2007.
FORM 8
|
This form is for |
Modification of
charge |
|
Charge
identification number of the modified |
90110994 |
|
Corporate identity
number of the company |
U65910GJ1995PTC026878 |
|
Name of the
company |
PRAVEEN
LABORATORIES PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
720, 7th Floor,
Golden Point, Near Gajjar Chambers, Falsawadi, Ring Road, Surat – 395003,
Gujarat, India |
|
Type of charge |
Immovable property |
|
Particular of
charge holder |
City Union Bank
Limited G-3, Twin Tower,
Sahara Darwaja, Ring Road, Surat – 395002, Gujarat, India |
|
Nature of
description of the instrument creating or modifying the charge |
Letter of
Confirmation for extension of mortgage by deposit of title deed covering
enhanced limits |
|
Date of
instrument Creating the charge |
22/01/2013 |
|
Amount secured by
the charge |
Rs.56.000
Millions |
|
Brief particulars
of the principal terms and conditions and extent and operation of the charge |
Rate of Interest BR+3.00%, i.e.
13.75% P.A. to be recovered on Monthly rests and subject to change from time
to time. (Present BR is 10.75%). Penal Interest @2.00% P.A. on irregular
portion Terms of
Repayment Existing Term
Loans : As per original Sanction Enhanced Cash
Credit: On Demand/ Subject to renewal. Margin Existing Term
Loan : As per original Sanction Enhanced Cash
Credit : 25% on Stock and Book Debts Extent and
Operation of the charge First and Exclusive
charge on the company until fully repaid together with interest and costs. |
|
Short particulars
of the property charged |
Factory land and
building situated at Plot No.1 to 28, constructed on land bearing R.S.No.169,
Block No.206, situated at Vill. Jolwa, Tal. Palsana, Sub-District Kamrej,
District Surat Shop No.720,
Golden Point, constructed on land bearing ward No.4, Nondh No.1643 and 1644,
situated at Falsa Wadi, Begumpura, Surat |
|
Date of latest
modification prior to the present modification |
13/12/2011 |
|
Particulars of
the present modification |
Existing Term
Loans remains same at Rs.26.000 Millions Existing Cash
Credit of Rs.22.500 Lac is enhanced to Rs.30.000 Millions Total Charge of
Rs.56.000 Millions |
FIXED ASSETS:
· Land
· Factory Building
· Office Equipment
· Plant and Machinery
· Electrification and Installation
· Laboratory Equipments
· Furniture and Fixture
· Computer
· Vehicles
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.54.48 |
|
|
1 |
Rs.82.72 |
|
Euro |
1 |
Rs.71.27 |
INFORMATION DETAILS
|
Report Prepared
by : |
NIT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--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 |
|
45 |
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.