BUSINESS INFORMATION REPORT
1. Summary Information
|
|
|
Country |
India |
|
Company Name |
AG GRANITES
PRIVATE LIMITED |
Principal Name 1 |
Mr. Muthugounder Ramasamy |
|
Status |
Satisfactory |
Principal Name 2 |
Mrs. Shanthi Ramasamy |
|
|
|
Registration # |
18-010232 |
|
Street Address |
Sf No.314, Muthugounder Colony, Harur,
Dharmapuri District – 636 903, Tamilnadu |
||
|
Established Date |
04.08.1998 |
SIC Code |
-- |
|
Telephone# |
91-4346-222555 |
Business Style 1 |
Manufacturer |
|
Fax # |
91-4346-222666 |
Business Style 2 |
Exporter |
|
Homepage |
Product Name 1 |
Granites |
|
|
# of employees |
Not Available |
Product Name 2 |
Monument Blocks |
|
Paid up capital |
Rs.45,000,000/- |
Product Name 3 |
-- |
|
Shareholders |
Directors or Relatives
of Directors – 100% |
Banking |
State Bank of India |
|
Public Limited Corp. |
No |
Business Period |
15 Years |
|
IPO |
No |
International Ins. |
-- |
|
Public |
No |
Rating |
Ba (44) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
CEO |
|
-- |
-- |
-- |
-- |
|
Note |
-- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2012 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
228,719,000
|
Current Liabilities |
9,578,000
|
|
Inventories |
121,297,000 |
Long-term Liabilities |
211,690,000 |
|
Fixed Assets |
86,740,000 |
Other Liabilities |
11,362,000
|
|
Deferred Assets |
370,000 |
Total Liabilities |
232,630,000 |
|
Invest& other Assets |
20,447,000 |
Retained Earnings |
179,943,000 |
|
|
|
Net Worth |
224,943,000 |
|
Total Assets |
457,573,000 |
Total Liab. & Equity |
457,573,000 |
|
Total Assets (Previous Year) |
432,044,000 |
|
|
|
P/L Statement as of |
31.03.2012 |
(Unit: Indian Rs.) |
|
|
Total Income |
358,305,000 |
Net Profit |
13,297,000 |
|
Total Income (Previous year) |
370,260,000 |
Net Profit
(Previous year) |
11,777,000 |
MIRA
INFORM REPORT
|
Report Date : |
12.03.2013 |
IDENTIFICATION DETAILS
|
Name : |
AG GRANITES
PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
SF No.314,
Muthugounder Colony, Harur, Dharmapuri District – 636 903, Tamilnadu |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
04.08.1998 |
|
|
|
|
Com. Reg. No.: |
18-010232 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.45.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U14102TZ1998PTC010232 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
CHEA10474C |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCA8182H |
|
|
|
|
Legal Form : |
Private Limited
Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer and
Exporter of Granites Cuts and Polished, Monument Blocks. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (44) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 890000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having 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) |
|
India |
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 |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
|
Rating |
A3 (Fund Based Facilities) |
|
Rating Explanation |
Having moderate degree of safety regarding timely payment of financial
obligation. |
|
Date |
December 2011 |
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 : |
SF No.314,
Muthugounder Colony, Harur, Dharmapuri District – 636 903, |
|
Tel. No.: |
91-4346-222555/
222666 |
|
Fax No.: |
91-4346-222666 |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
Leased |
|
|
|
|
Corporate Office/ Administration Office : |
Flat 2AB, 4th Block, Kences
Enclave , 1, |
|
Tel. No.: |
91-44-28142333/ 28140999 |
|
Fax No.: |
91-44-28140896 |
|
Email: |
|
|
Area : |
Rented |
|
|
|
|
Factory (Harur) : |
M.G. Colony, Harur, Dharmapuri District - 636 903, |
|
Tel. No.: |
91-4346-223999/ 222555/ 222266 |
|
Fax No.: |
91-4346-222666 |
|
Email: |
DIRECTORS
AS ON 28.09.2012
|
Name : |
Mr. Muthugounder Ramasamy |
|
Designation : |
Managing Director |
|
Address : |
M.G. Colony, Harur, Dharmapuri District – 636 903, |
|
Date of Birth/Age : |
04.11.1954 |
|
Date of Appointment : |
04.08.1998 |
|
DIN No.: |
00573855 |
|
|
|
|
Name : |
Mrs. Shanthi Ramasamy |
|
Designation : |
Director |
|
Address : |
M.G. Colony, Harur, Dharmapuri District – 636 903, |
|
Date of Birth/Age : |
19.01.1964 |
|
Date of Appointment : |
04.08.1998 |
|
DIN No.: |
00573866 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 28.09.2012
|
Names of Shareholders |
No. of Shares |
|
M. Ramasamy |
2700000 |
|
Shanti Ramasamy |
1800000 |
|
TOTAL
|
4500000 |
AS ON 28.09.2012
|
Equity Shares
Break Up |
Percentage of
Holding |
|
Directors or relatives of Directors |
100.00 |
|
TOTAL |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and
Exporter of Granites Cuts and Polished, Monument Blocks. |
|
|
|
|
Products : |
v Granite Slabs v Stones v Marbles v Granite Monuments v Granite Sculbotors v Granites |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||||||||
|
Bankers : |
v
State
Bank of v
ICICI
Bank v
HDFC
Bank v
Indian Bank v
IndusInd Bank, Chennai v
IndusInd Bank, Dharmapuri |
||||||||||||||||||||||||||||||||||||||||||||||||
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|
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Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
K.E. Sridharan and Company Chartered
Accountants |
|
Address : |
No.10, GA Jains
Anasvara Apartments, |
|
PAN No.: |
ABHPS7393G |
CAPITAL STRUCTURE
AS ON 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5000000 |
Equity Shares |
Rs.10/- each |
Rs. 50.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4500000 |
Equity Shares |
Rs.10/- each |
Rs. 45.000
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 |
45.000 |
45.000 |
45.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
179.943 |
175.646 |
172.868 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
224.943 |
220.646 |
217.868 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
211.690 |
191.754 |
188.808 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
211.690 |
191.754 |
188.808 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
436.633 |
412.400 |
406.676 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
86.740 |
107.703 |
109.509 |
|
|
Capital work-in-progress |
20.447 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.370 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
121.297
|
111.124 |
78.597 |
|
|
Sundry Debtors |
127.395
|
110.088 |
146.225 |
|
|
Cash & Bank Balances |
18.281
|
16.006
|
19.856
|
|
|
Other Current Assets |
6.175
|
0.000
|
9.458
|
|
|
Loans & Advances |
76.868
|
87.123
|
57.457
|
|
Total
Current Assets |
350.016
|
324.341 |
311.593 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
8.837
|
9.995
|
13.595
|
|
|
Other Current Liabilities |
0.741
|
0.000
|
0.000
|
|
|
Provisions |
11.362
|
9.649
|
0.831
|
|
Total
Current Liabilities |
20.940
|
19.644 |
14.426 |
|
|
Net Current Assets |
329.076
|
304.697
|
297.167
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
436.633 |
412.400 |
406.676 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
|
|
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL |
358.305 |
370.260 |
397.639 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
336.963 |
344.496 |
350.476 |
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX |
21.342 |
25.764 |
47.163 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
8.045 |
13.987 |
0.832 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX |
13.297 |
11.777 |
46.331 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
3.00 |
3.00 |
10.00 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
3.71
|
3.18
|
11.65 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
4.88
|
5.96
|
11.20 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.09
|
0.12
|
0.22 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.94
|
0.87
|
0.87 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
16.72
|
16.51
|
21.60 |
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 |
Yes |
FORM 8
|
Corporate
identity number of the company |
U14102TZ1998PTC010232 |
|
Name of the
company |
AG GRANITES
PRIVATE LIMITED |
|
Address of the registered
office or of the principal place of
business in |
SF No.314,
Muthugounder Colony, Harur, Dharmapuri – 636 903, |
|
This form is for |
Modification of
charge |
|
Charge identification
number of the charge to be modified |
90000994 |
|
Type of charge |
·
Immovable
property ·
Book
debts ·
Movable
property (not being pledge) |
|
Particular of
charge holder |
State Bank of E-mail - mahendiran56@gmail.com |
|
Nature of
instrument creating charge |
1. Supplemental
Agreement of Loan for increase in the overall limit. 2. Supplemental
Agreement of Hypothecation of Goods and Assets for increase in the overall
limit. 3. Letter
Regarding the grant of individual limits within the overall limit. |
|
Date of
instrument Creating the charge |
19.07.2012 |
|
Amount secured by
the charge |
Rs. 231.000 Millions
|
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of interest EPC/FBD (Non-LC):
1.50% above Base Rate i.e. 11.50% p.a.} SBL: 1.00% above
EPC Rate i.e. 12.50% p.a.} with monthly rests. T L: 1.50% above Base
Rate i.e. 11.50% p.a.} LC/BG: As per the
Bank norms Terms of repayment Working Capital:
Repayable on Demand Margin EPC: Stocks : 25% LC: 25% BG: 25% and 100%
on disputed guarantees. SLC: 25% Extent and operation of the charge As mentioned in the
Agreements |
|
Short particulars
of the property charged (Including location of the property) |
Primary: The
existing charge on the Raw Materials, Semi-Finished and Finished Goods,
Stores, Spares, Consumables, Receivables and other Current Assets shall continue
to secure the present reduced limit. Collateral: The
existing charge on the Fixed Assets and the Immovable Properties belonging to
the Company shall continue to secure the present reduced overall limit. Other existing
securities remain same. |
|
Date of
instrument modifying the charge |
17.02.2011 |
|
Particulars of
the present modification |
By the present
modification, the overall limit has been reduced from Rs.233.600 Millions to Rs.231.000
Millions by reduction in the Term Loan and enhancement in the Letter of
Credit and secured by existing charge on the Current Assets, Plant and
Machineries, Fixed Assets and Immovable properties belonging to the Company. Other existing
securities remain same. |
FIXED ASSETS
· Factory Building
· Building WIP
· Plant and Machinery
· Furniture and Fittings
· Electrical Fittings
· Office Equipments
· Computer and Accessories
· 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. 54.29 |
|
|
1 |
Rs. 81.08 |
|
Euro |
1 |
Rs. 70.61 |
INFORMATION DETAILS
|
Report Prepared
by : |
DPT |
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 |
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 |
|
44 |
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.