MIRA INFORM REPORT
|
Report Date : |
08.05.2013 |
IDENTIFICATION DETAILS
|
Name : |
CORRTECH INTERNATIONAL PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
51, Mahagujarat Industrial Estate, Opposite Nova Petrochemicals,
Sarkhej – Bavla Highway, Village Moraiya, Changodor, Ahmedabad – 382213,
Gujarat |
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|
|
Country : |
India |
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Financials (as
on) : |
31.03.2012 |
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Date of
Incorporation : |
08.06.1982 |
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Com. Reg. No.: |
04-038664 |
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Capital
Investment / Paid-up Capital : |
Rs. 145.450 Millions |
|
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|
|
CIN No.: [Company Identification
No.] |
U29130GJ1982PTC038664 |
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|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
AHMC00080D |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
The Subject is engaged in the business of Pipeline
Construction, Cathodic Protection Systems and Horizontal Directional Drilling
(HDD). |
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|
No. of Employees
: |
Information denied by management |
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 4000000 |
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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 reported to be fair. Business is active. Payments are reported
to be usually correct and as per commitment. The company can be considered for normal business dealings at usual
trade terms and condition. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
Long term bank (BB +) |
|
Rating Explanation |
Having moderate risk of default regarding timely servicing of
financial obligation |
|
Date |
February 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 DECLINED BY
|
Name : |
Mr. Devendra Rajput |
|
Designation : |
Company Secretary |
|
Date : |
08.05.2013 |
LOCATIONS
|
Registered Office/ Factory/ Pipeline Division : |
51, Mahagujarat Industrial Estate, Opposite Nova Petrochemicals, Sarkhej
– Bavla Highway, Village Moraiya, Changodor, Ahmedabad – 382213, Gujarat,
India |
|
Tel. No.: |
91-2717-304100 to 199 |
|
Fax No.: |
91-2717- 304150 |
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E-Mail : |
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|
Website : |
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|
Cathodic Protection System Division : |
22, Dhara Centre, Vijay Cross Roads, Navrangpura, Ahmedabad – 380009, |
|
Tel. No.: |
91-79-26563443 / 26420119 / 39873100/ 26420118/ 26568639/ 26563443/
26568639/ 26424400/ 26420118 |
|
Fax No.: |
91-79-26431615 |
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|
|
|
Factory 2 : |
Shed No.7, Survey No.407, SP – 3, New Ahmedabad Industrial Estate, Near Sarvoday Hotel, Sarkhej Bavla Road, Village Moraiya, Changodor, Ahmedabad – 382213, Gujarat, India |
DIRECTORS
As on 29.09.2012
|
Name : |
Mr. Sandeep Indrasen Mittal |
|
Designation : |
Director |
|
Address : |
D -33, Aryaman Bunglows, Next to Railway Crossing, Thaltej Shilaj
Road, Shilaj, Ahmedabad - 380059,Gujarat, India |
|
Date of Birth/Age : |
02.04.1968 |
|
Date of Appointment : |
18.08.1997 |
|
DIN No.: |
01643818 |
|
PAN No.: |
AFRPM1147C |
|
|
|
|
Name : |
Mr. Shailesh Dhirajlal Javia |
|
Designation : |
Director |
|
Address : |
B/702, Sheelalekh Opposite Police Sta, Shahibaug, Ahmedabad - 380054, Gujarat, India |
|
Date of Birth/Age : |
19.11.1966 |
|
Date of Appointment : |
18.8.1997 |
|
DIN No.: |
01643976 |
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|
|
|
Name : |
Mr. Amit Indrasen Mittal |
|
Designation : |
Managing Director |
|
Address : |
38,
Akashneem, Opposite Nehru Foundation, Bodakdev, Ahmedabad - 380054, Gujarat,
India |
|
Date of Birth/Age : |
01.08.1966 |
|
Date of Appointment : |
20.03.1997 |
|
DIN No.: |
01644010 |
|
PAN No.: |
ABOPM5343D |
KEY EXECUTIVES
|
Name : |
Mr. Devendra Rajput |
|
Designation : |
Company Secretary |
|
|
|
|
Name : |
Mr. Devendra Jaswant Singh Rajput |
|
Designation : |
Secretary |
|
Address : |
13, Arbudadevi Society, Part-1, Near Chandlodiya Railway Station,
Chanakapuri Road, Ahmedabad – 380061, Gujarat, India |
|
Date of Birth/Age : |
10.10.1970 |
|
Date of Appointment : |
31.03.2009 |
|
PAN No.: |
ABMPR1234J |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 29.09.2012
|
Sandeep Mittal |
|
2393995 |
|
Amit Mittal |
|
2306060 |
|
I.S. Mittal HUF |
|
121700 |
|
Kavita A. Mittal |
|
1074370 |
|
Harinis. Mittal |
|
986435 |
|
IEC Projects
Limited |
|
1407000 |
|
Shailesh Javia |
|
1500 |
|
Axis Infrastructure Fund
1, India |
|
3781700 |
|
In The Joint Name
of Shashibala Mittal, Amit Mittal and Kavita A. Mittal |
|
1236120 |
|
In The
Joint Name of Shashibala Mittal, Sandeep Mittal and Harini S. Mittal |
|
1236120 |
|
|
|
|
|
Total |
|
14545000 |
Equity Share Break up (Percentage of Total Equity)
As on 29.09.2012
|
Category |
Percentage |
|
Bodies corporate |
35.67 |
|
Directors or relatives of Directors |
64.33 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
The Subject is engaged in the business of Pipeline Construction,
Cathodic Protection Systems and Horizontal Directional Drilling (HDD). |
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Products : |
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GENERAL INFORMATION
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No. of Employees : |
Information denied by management |
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Bankers : |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
Deloitte Haskins and Sells Chartered Accountants |
|
Address : |
3rd Floor 'Heritage' Near Gujrath Vidya Pith of Fashram
Road Ahmedabad – 380014, Gujarat, India |
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PAN No.: |
AABFD7919A |
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|
|
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Subsidiary company: |
(CIN: U40200GJ2005PTC047122) |
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|
|
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Others: |
(CIN:
U29260GJ2006PTC047602) |
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Joint venture: |
(CIN: U45209GJ2010PTC061458) |
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Enterprises which are owned, or have significant
influence of or are partners with Key management personnel and their
relatives |
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CAPITAL STRUCTURE
As on 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
15000000 |
Equity Shares |
Rs.10/- each |
Rs. 150.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
14545000 |
Equity Shares |
Rs.10/- each |
Rs. 145.450 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 |
145.450 |
145.450 |
145.450 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
865.448 |
821.138 |
1044.941 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
1010.898 |
966.588 |
1190.391 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
1132.940 |
867.376 |
1049.546 |
|
|
2] Unsecured Loans |
0.000 |
70.194 |
114.220 |
|
|
TOTAL BORROWING |
1132.940 |
937.570 |
1163.766 |
|
|
DEFERRED TAX LIABILITIES |
125.721 |
114.180 |
59.976 |
|
|
|
|
|
|
|
|
TOTAL |
2269.559 |
2018.338 |
2414.133 |
|
|
|
|
|
|
|
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APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
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|
FIXED ASSETS [Net Block] |
1499.725 |
1491.163 |
1238.724 |
|
|
Capital work-in-progress |
0.000 |
48.934 |
134.949 |
|
|
|
|
|
|
|
|
INVESTMENT |
120.078 |
120.078 |
115.078 |
|
|
DEFERRED TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
656.560
|
560.007 |
389.240 |
|
|
Sundry Debtors |
691.485
|
537.140 |
682.190 |
|
|
Cash & Bank Balances |
176.523
|
86.653 |
136.433 |
|
|
Other Current Assets |
38.968
|
103.430 |
61.123 |
|
|
Loans & Advances |
359.228
|
267.641 |
131.014 |
|
Total
Current Assets |
1922.764
|
1554.871 |
1400.000 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
512.701
|
620.553 |
297.498 |
|
|
Other Current Liabilities |
709.692
|
558.799 |
173.110 |
|
|
Provisions |
50.615
|
17.356 |
4.010 |
|
Total
Current Liabilities |
1273.008
|
1196.708 |
474.618 |
|
|
Net Current Assets |
649.756
|
358.163 |
925.382 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
2269.559 |
2018.338 |
2414.133 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
|
|
|
|
|
Other Income |
|
|
|
|
|
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TOTAL |
2638.101 |
2431.334 |
2059.950 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
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|
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Administrative Expenses |
|
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Advertising Expenses |
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|
|
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TOTAL |
2579.037 |
2640.218 |
1871.676 |
|
|
|
|
|
|
|
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|
PROFIT/
(LOSS) BEFORE PRIOR PERIOD ADJUSTMENTS AND TAXES |
59.064 |
(208.884) |
188.274 |
|
|
|
|
|
|
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|
Add |
PRIOR PERIOD
ADJUSTMENTS |
0.000 |
45.749 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
59.064 |
(163.135) |
188.274 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
14.755 |
60.666 |
66.347 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
44.309 |
(223.801) |
121.927 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
187.650 |
411.451 |
289.524 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED TO
THE B/S |
231.959 |
187.650 |
411.451 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
137.663 |
64.336 |
NA |
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
3.05 |
NA |
NA |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
1.68
|
9.20 |
5.92 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
3.07
|
10.49 |
13.45 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.06
|
0.17 |
0.16 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
1.120
|
0.97 |
0.98 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.51
|
1.30 |
2.95 |
LOCAL AGENCY FURTHER INFORMATION
SUNDRY CREDITORS
DETAILS:
|
Particulars |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
(Rs. In Millions) |
||
|
Sundry Creditors |
512.701
|
620.553 |
297.498 |
|
Total |
512.701
|
620.553 |
297.498 |
|
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 |
Yes |
|
10] |
Designation of contact
person |
Yes |
|
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 |
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 |
Yes |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
Note: Registered office of the company has been
shifted from 22, Dhara Centre, Vijay Cross Roads, Navrangpura, Ahmedabad – 380009,
Gujarat, India to the present address
w.e.f.22.10.2010
REVIEW OF OPERATION:
During the year,
the Company has earned of Rs. 2638.100 Millions from operations. The Profit
after tax for the year has been Rs. 44.300 Millions as against Loss after tax
of Rs. 223.800 Millions during the previous financial year. The Directors are
continuously looking for avenues for future growth of the Company.
|
Unsecured Loan |
31.03.2012 (Rs.
in Millions) |
31.03.2011 (Rs.
in Millions) |
|
Working capital loans from banks |
0.000 |
20.000 |
|
Loans repayable on demand |
0.000 |
50.194 |
|
Total |
0.000 |
70.194 |
BANKERS CHARGES REPORT
AS PER REGISTRY
|
Corporate
identity number of the company |
U29130GJ1982PTC038664 |
|
Name of the
company |
CORRTECH
INTERNATIONAL PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
51 Mahagujarat,
Industrial Estate, Opposite Nova Petrochemicals, Sarkhej-Bavla Highway,
Village Moraiya, Changodor, Ahmedabad – 382213, Gujarat, India |
|
This form is for |
Modification
of Charge |
|
Charge identification
(ID) number of the charge to be modified |
10129267 |
|
Type of charge |
Immovable
Property |
|
CIN |
U29130GJ1982PTC038664 |
|
Particular of
charge holder |
UCO Bank, Mid Corporate Branch, UCO Bhavan, Near Sanyas Ashram, Ashram
Road, Ahmedabad - 380009, Gujarat, India |
|
Nature of
instrument creating charge |
Memorandum of
Extension of Existing Joint Equitable Mortgage |
|
Date of
instrument Creating the charge |
01.04.2013 |
|
Amount secured by
the charge |
Rs.2940.000
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest As per Sanction
letter of Respective banks Terms of
Repayment As per Sanction
letter of Respective banks Margin As per Sanction
letter of Respective banks Extent and
Operation of the charge The properties
mentioned in the memorandum of extension of existing equitable Mortgage by
continuance of deposit of title deeds dated 01/04/2013 charged with an
Intention to create security by way of equitable mortgage as deposit of title
deeds of Said immovable properties, all 3 bank create joint security thereon
ranking pari-passu with each other for due re-payment of the various working
capital limit aggregating to Rs.2940.000 Millions Others 2ONE |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
All that plot of
land admeasuring 4881.54 sq. Mts with super structure standing thereon
forming part of survey no. 427 paiki sub plot no. 51 (354) at mouje moriya,
taluka sanand Land bearing sub
plot no. 2+3 and old survey no. 94/1, 95 and 109/1 and final plot no. 195+196
of tps no. 19 of mouje sheikhpur- khanpur of city taluka and unit no.1 on 3rd
floor mea. 1019 sq. Ft. Land bearing sub
plot no. 2+3 and old survey no. 94/1, 95 and 109/1 and final plot no. 195+196
of tps no. 19 of mouje sheikhpur- khanpur of city taluka and unit no.2 on 2nd
floor mea. 2252 sq. Mts All that pieces
or parcels of freehold non agricultural industrial use land bearing survey
no. 407 paiki admeasuring 16723.50 sq. Mtrs. Mouje moraiya of sanand taluka Bunglow no. 24
measuring 426 sq. Yd together with cellar measuring 60 sq yds, grounf floor
147 sq. Yd.,first floor 147 sq. Yd, and 2nd floor 36 sq. Yd at village -
ghatlodia, ahmedabad. |
|
Date of
instrument modifying the charge |
22.12.2012 |
|
Particulars of
the present modification |
Modification of charge
by way of Memorandum of Extension of Existing Equitable Mortgage By
Continuance of Deposit of Title Deeds to secure the renewed and enhanced
working capital limit of Rs.2940.000 Millions limits on consortium basis(UCO
Bank, Axis Bank And Idbi Bank). |
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.54.27 |
|
|
1 |
Rs.84.31 |
|
Euro |
1 |
Rs.70.99 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Report Prepared
by : |
KVT |
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 |
YES |
|
--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.