1. Summary Information
|
Country |
India |
||
|
Company Name |
COSMA INTERNATIONAL ( |
Principal Name 1 |
Mr. Douglas Richard Tatters |
|
Status |
Moderate |
Principal Name 2 |
Mr. Eric Jon Wilds |
|
Registration # |
11 – 133906 |
||
|
Street Address |
Plot #A-12, MIDC Talegaon, Navlakh Umbare, Maval District, Pune – 410
507, Maharashtra |
||
|
Established Date |
07.05.2009 |
SIC Code |
-- |
|
Telephone# |
91-2135-677405 |
Business Style 1 |
Manufacturer |
|
Fax # |
91-2135-677410 |
Business Style 2 |
-- |
|
Homepage |
Product Name 1 |
Modular Bracket – IP Beam |
|
|
# of employees |
150 (Approximately) |
Product Name 2 |
-- |
|
Paid up capital |
Rs.1225,000,000/- |
Product Name 3 |
-- |
|
Shareholders |
Foreign holding – 100% |
Banking |
City Bank |
|
Public Limited Corp. |
NO |
Business Period |
4 Years |
|
IPO |
NO |
International Ins. |
- |
|
Public |
NO |
Rating |
B (32) |
|
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 |
1,541,924,000 |
Current Liabilities |
1,302,163,000 |
|
Inventories |
27,943,000 |
Long-term Liabilities |
3,073,050,000 |
|
Fixed Assets |
648,761,000 |
Other Liabilities |
26,778,000 |
|
Deferred Assets |
0,000 |
Total Liabilities |
4,401,991,000 |
|
Invest& other Assets |
2,764,017,000 |
Retained Earnings |
(644,346,000) |
|
|
|
Net Worth |
580,654,000 |
|
Total Assets |
4,982,645,000 |
Total Liab. & Equity |
4,982,645,000 |
|
Total Assets (Previous Year) |
277,158,000 |
|
|
|
P/L Statement as of |
31.03.2012 |
(Unit: Indian Rs.) |
|
|
Sales |
245,840,000 |
Net Profit / (Loss) |
(586,753,000) |
|
Sales(Previous yr) |
141,702,000 |
Net Profit / (Loss) (Prev.yr) |
(16,099,000) |
MIRA INFORM REPORT
|
Report Date : |
04.05.2013 |
IDENTIFICATION DETAILS
|
Name : |
COSMA INTERNATIONAL ( |
|
|
|
|
Registered Office : |
Plot #A-12, MIDC Talegaon, Navlakh Umbare, Maval District,
Pune–410507, Maharashtra |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.03.2012 |
|
|
|
|
Date of Incorporation : |
07.05.2009 |
|
|
|
|
Com. Reg. No.: |
11-133906 |
|
|
|
|
Capital Investment / Paid-up Capital : |
Rs. 1225.000 Millions |
|
|
|
|
CIN No.: [Company
Identification No.] |
U34200PN2009FTC133906 |
|
|
|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
PNEC07876B |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business : |
Manufacturer of Sheet Metal Parts for Passenger Cars. |
|
|
|
|
No. of Employees : |
150 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (32) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 2300000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow But Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a subsidiary of “Magna Cyprus Holding Limited, Cyprus. It is an established company having a moderate track record. The company
has changes its date of filing annual return with the government department. There appear huge accumulated losses recorded by the company. The
external borrowings seem to be huge. However, the capital base of the company is good. The company gets
strong financial support from its holding company. Trade relations are reported to be fair. Business is active. Payments
are reported to be slow but correct. The company can be considered for business dealings with some caution.
|
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 |
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 : |
Plot #A-12, MIDC Talegaon, Navlakh Umbare, Maval District,
Pune–410507, Maharashtra, India |
|
Tel. No.: |
Not Available |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Factory 2 : |
Satav Industrial Estate, Industrial Gala No. # 03, Gat # 376,
Kharabwadi, Behind Racold, Chakan-Talegaon Road, Khed Taluka, Pune – 410 501,
Maharashtra |
|
Tel. No.: |
91-2135-677420/ 677405/ 677440/ 677448/ 677409 |
|
Fax No.: |
91-2135-677410 |
DIRECTORS
AS ON 30.06.2011
|
Name : |
Mr. Douglas Richard Tatters |
|
Designation : |
Director |
|
Address : |
685, |
|
Date of Birth/Age : |
15.03.1961 |
|
Date of Appointment : |
07.05.2009 |
|
DIN No.: |
01384498 |
|
|
|
|
Name : |
Mr. Eric Jon Wilds |
|
Designation : |
Director |
|
Address : |
22540, |
|
Date of Birth/Age : |
04.03.1967 |
|
Date of Appointment : |
07.05.2009 |
|
DIN No.: |
02387126 |
|
|
|
|
Name : |
Mr. Seetarama Swamy Kotagiri |
|
Designation : |
Director |
|
Address : |
45, Roundtree, |
|
Date of Birth/Age : |
17.12.1968 |
|
Date of Appointment : |
07.05.2009 |
|
DIN No.: |
02393025 |
|
|
|
|
Name : |
Mr. Prasad Vasudeva Rao |
|
Designation : |
Director |
|
Address : |
MP209, Suryodaya Apartments, Mangalya Swapnaloka, Varthur Hubli, Near |
|
Date of Birth/Age : |
05.08.1965 |
|
Date of Appointment : |
30.09.2010 |
|
DIN No.: |
03259082 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.06.2011
|
Names of Shareholders |
No. of Shares |
|
Magna Cyprus Holding Limited, |
122500000 |
|
Magna Steyr Inc, |
1 |
|
TOTAL
|
122500001 |
AS ON 01.08.2011
|
Names of Allottees |
No. of Shares |
|
Magna Cyprus Holding Limited, |
60000000 |
|
TOTAL
|
60000000 |
AS ON 30.06.2011
|
Equity Shares
Break Up |
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 Sheet Metal Parts for Passenger Cars. |
||||
|
|
|
||||
|
Products : |
|
PRODUCTION STATUS (AS ON 31.12.2010)
|
Particulars |
Unit |
Installed
Capacity |
Actual
Production |
|
Modular Bracket – IP Beam |
Nos. |
128350 |
30284 |
|
Door Beam |
Nos. |
NA |
79064 |
NOTES
- Inter terms
of Notification No. 477(E) dated July 25, 1991, issued by the Ministry of
Industry, Department of Industrial Development, the Company’s products
have been exempted from industrial licensing. Accordingly, disclosure
requirements concerning licensed capacity are not applicable.
- The installed
capacity is as certified by the management and relied on by auditors,
without verification, this being a technical matter. Installed Capacity
for Door Beam is not available with the management.
GENERAL INFORMATION
|
No. of Employees : |
150 (Approximately) |
|
|
|
|
Bankers : |
Citi Bank, Pune Branch, |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
S.V. Ghatalia and Associates Chartered Accountants |
|
Address : |
C-401, 4th Floor, |
|
Tel. No.: |
91-20-66036000 |
|
Fax No.: |
91-20-66015900 |
|
PAN No.: |
AACFS6921Q |
CAPITAL STRUCTURE
AS ON 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
122500000 |
Equity Shares |
Rs.10/- each |
Rs. 1225.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
122500000 |
Equity Shares |
Rs.10/- each |
Rs. 1225.000 Millions |
|
|
|
|
|
AS ON 29.12.2012
Authorised Capital : Rs. 2050.000
Millions
Issued, Subscribed & Paid-up Capital : Rs. 2029.225 Millions
FINANCIAL DATA
[all figures are in
Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2012 |
31.12.2010 |
31.12.2009 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
1225.000 |
50.000 |
50.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
0.000 |
0.000 |
0.000 |
|
|
4] (Accumulated Losses) |
(644.346) |
(57.594) |
(41.495) |
|
|
NETWORTH |
580.654 |
(7.594) |
8.505 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
3073.050 |
45.000 |
0.000 |
|
|
TOTAL BORROWING |
3073.050 |
45.000 |
0.000 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
3653.704 |
37.406 |
8.505 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
648.761 |
33.505 |
29.270 |
|
|
Capital work-in-progress |
2764.017 |
12.444 |
4.787 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
27.943
|
13.268 |
0.041 |
|
|
Sundry Debtors |
45.582
|
52.848 |
0.420 |
|
|
Cash & Bank Balances |
816.747
|
42.024 |
26.079 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.350 |
|
|
Loans & Advances |
679.595
|
123.069 |
48.218 |
|
Total
Current Assets |
1569.867
|
231.209 |
75.108 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
1056.810
|
132.792 |
94.717 |
|
|
Other Current Liabilities |
245.353
|
103.733 |
2.691 |
|
|
Provisions |
26.778
|
3.227 |
3.252 |
|
Total
Current Liabilities |
1328.941
|
239.752 |
100.660 |
|
|
Net Current Assets |
240.926
|
(8.543) |
(25.552) |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
3653.704 |
37.406 |
8.505 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.12.2010 |
31.12.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
245.840 |
141.702 |
9.364 |
|
|
|
Other Income |
NA |
1.414 |
0.346 |
|
|
|
TOTAL (A) |
NA |
143.116 |
9.710 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Raw material and Bought-out Components Consumed |
|
47.775 |
0.117 |
|
|
|
Cost of Tooling |
|
51.930 |
34.792 |
|
|
|
Personnel Expenses |
|
11.489 |
2.318 |
|
|
|
Operating and Other Expenses |
|
40.844 |
11.432 |
|
|
|
(Increase) / Decrease in stock |
|
(2.622) |
0.000 |
|
|
|
TOTAL (B) |
NA |
149.416 |
48.659 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
NA |
(6.300) |
(38.949) |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
NA |
2.335 |
0.068 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
(568.791) |
(8.635) |
(39.017) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
17.962 |
7.464 |
(2.478) |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
(586.753) |
(16.099) |
(41.495) |
|
|
|
|
|
|
|
|
|
Less |
TAX (I) |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-I) (J) |
(586.753) |
(16.099) |
(41.495) |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
(57.594) |
(41.495) |
0.000 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
(644.347) |
(57.594) |
(41.495) |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
42.942 |
0.007 |
0.145 |
|
|
TOTAL EARNINGS |
42.942 |
0.007 |
0.145 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Capital Goods |
NA |
0.005 |
0.005 |
|
|
|
Tooling Cost |
NA |
0.000 |
0.031 |
|
|
|
Prototype Material Purchased |
NA |
0.014 |
0.001 |
|
|
TOTAL IMPORTS |
NA |
0.019 |
0.037 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
(4.79) |
(3.22) |
(8.30) |
|
%20PRIVATE%20LIMITED%20-%20219571%2004-May-2013_files/image001.gif){kind=small}
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.12.2010 |
31.12.2009 |
|
PAT / Total Income |
(%) |
NA
|
(11.25) |
(427.34) |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
(238.67)
|
(11.36) |
(443.13) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(26.45)
|
(0.61) |
(39.75) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
1.01
|
2.12 |
(4.88) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
5.29
|
(5.93) |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.18
|
0.96 |
0.75 |
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 |
Yes |
|
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) |
Yes |
|
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 |
FACILITIES
|
Unsecured Loan |
Rs.
In Millions 31.03.2012 |
Rs.
In Millions 31.12.2010 |
|
Rupee term loans
unsecured |
|
|
|
Rupee term loans banks unsecured |
747.000 |
45.000 |
|
Other external commercial borrowings unsecured |
2326.050 |
0.000 |
|
|
|
|
|
TOTAL |
3073.050 |
45.000 |
PERFORMANCE
This Financial Year being the third year of setting up, the turnover
during the period was Rs. 245.840 Millions. The management of the Company has
taken several steps, subsequent to the Balance Sheet date, to aggressively better
the performance of the Company in coming years.
FIXED ASSETS
- Plant and Machinery
- Furniture and Fittings
- Leasehold Improvements
- Computers
- Office and Other Equipments
- Software
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. 53.95 |
|
|
1 |
Rs. 83.80 |
|
Euro |
1 |
Rs. 70.49 |
INFORMATION DETAILS
|
Report Prepared
by : |
DPT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
32 |
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.