1. Summary Information
|
Country |
India |
||
|
Company Name |
JYOTI POLYVINYL LIMITED |
Principal Name 1 |
Mr. Kamlesh Ashok Jain |
|
Status |
Moderate |
Principal Name 2 |
Mr. Ashok Kumar Jain |
|
Registration # |
04-017137 |
||
|
Street Address |
12, GIDC, Industrial
Estate, Por Ramangamdi District, Baroda – 391243, Gujarat |
||
|
Established Date |
25.02.1992 |
SIC Code |
-- |
|
Telephone# |
91-265-2830328 |
Business Style 1 |
Manufacturer |
|
Fax # |
91-265-2830328 |
Business Style 2 |
-- |
|
Homepage |
Product Name 1 |
PVC Water Stop |
|
|
# of employees |
Not Available |
Product Name 2 |
Expansion/
Contraction Joints |
|
Paid up capital |
Rs.
53,779,000/- |
Product Name 3 |
HDPE and PVC Pipes |
|
Shareholders |
Foreign holdings 23.19%, Bodies
corporate 34.64%, Directors or relatives of
directors 24.80%, Other top fifty
shareholders 7.55%, Others 9.82% |
Banking |
Bank of Baroda |
|
Public Limited Corp. |
Yes |
Business Period |
21 Years |
|
IPO |
Yes |
International Ins. |
- |
|
Public |
Yes |
Rating |
B
(30) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
CEO |
|
Associate |
-- |
Jyoti Vinyl Limited |
-- |
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2012 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
51,115,000 |
Current Liabilities |
5,721,000 |
|
Inventories |
19,939,000 |
Long-term Liabilities |
31,501,000 |
|
Fixed Assets |
15,157,000 |
Other Liabilities |
1,251,000 |
|
Deferred Assets |
0,000 |
Total Liabilities |
38,473,000 |
|
Invest& other Assets |
0,000 |
Retained Earnings |
0,000 |
|
|
|
Net Worth |
47,738,000 |
|
Total Assets |
86,211,000 |
Total Liab. & Equity |
86,211,000 |
|
Total Assets (Previous Year) |
87,598,000 |
|
|
|
P/L Statement as of |
31.03.2012 |
(Unit: Indian Rs.) |
|
|
Sales |
80,783,000 |
Net Profit |
1,783,000 |
|
Sales (Previous yr) |
80,945,000 |
Net Profit
(Prev.yr) |
2,013,000 |
MIRA INFORM REPORT
|
Report Date : |
24.05.2013 |
IDENTIFICATION DETAILS
|
Name : |
JYOTI POLYVINYL LIMITED |
|
|
|
|
Registered
Office : |
12, GIDC, Industrial
Estate, Por Ramangamdi District, Vadodara – 391243, Gujarat |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
25.02.1992 |
|
|
|
|
Com. Reg. No.: |
04-017137 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 53.779
Millions |
|
|
|
|
CIN No.: [Company Identification No.] |
L25200GJ1992PLC017137 |
|
|
|
|
IEC No.: |
3494002541 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
BRDJ00646C |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACJ5355J |
|
|
|
|
Legal Form : |
A Public Limited Liability Company. The Company’s Shares are Listed on
the Stock Exchanges. |
|
|
|
|
Line of Business
: |
Manufacturer of
PVC Water Stop, Expansion/ Contraction Joints, HDPE and PVC Pipes, Fittings
and Allied Products. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (30) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 191000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having a moderate track record. There appears slight dip in the profitability of the company.
Accumulated losses recorded by the company are wiped off slowly. Trade relations are fair. Business is active. Payment terms are slow. The company can be considered for business dealings with great
caution. Note: Subject is not
traded in NSE and BSE from last 30 Days. |
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 |
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 : |
12, GIDC, Industrial
Estate, Por Ramangamdi District, Vadodara – 391243, Gujarat, India |
|
Tel. No.: |
91-265-2830328 |
|
Fax No.: |
91-265-2830328 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Factory 2 : |
Second Floor, Haripreet Apartment, 33-B, Anand Nagar Society, Productivity Road, Baroda – 390007, Gujarat, India |
|
Tel. No.: |
91-265-2333953/ 2333885 |
|
Fax No.: |
91-265-2335954 |
|
E-Mail : |
DIRECTORS
AS ON 29.09.2012
|
Name : |
Mr. Kamlesh Ashok Jain |
|
Designation : |
Managing director |
|
Address : |
301, Yogi Darshan Building, 13-A, Nutun Bharat Society, Alkapuri,
Baroda – 390005, Gujarat, India |
|
Date of Birth/Age : |
08.04.1955 |
|
Qualification : |
Under Graduate |
|
Date of Appointment : |
29.03.1992 |
|
PAN No.: |
AFOPJ1041D |
|
Voter ID No.: |
HDG2956977 |
|
DIN No.: |
02567755 |
|
|
|
|
Name : |
Mr. Ashok Kumar Jain |
|
Designation : |
Director |
|
Address : |
301, Yogi Darshan Building, 13-A, Nutun Bharat Society, Alkapuri,
Vadodara – 390005, Gujarat, India |
|
Date of Birth/Age : |
13.02.1952 |
|
Qualification : |
Under Graduate |
|
Date of Appointment : |
01.10.2005 |
|
DIN No.: |
00660906 |
|
|
|
|
Name : |
Mr. Uttamsing Mahavirsing Chaudhari |
|
Designation : |
Director |
|
Address : |
A/1, Naruti Park Society, Makarpura Road, Vadodara – 390010, Gujarat,
India |
|
Date of Birth/Age : |
15.05.1966 |
|
Qualification : |
Under Graduate |
|
Date of Appointment : |
01.10.2005 |
|
DIN No.: |
02603686 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 29.09.2012
NOTE: SHAREHOLDING DETAILS FILE ATTACHED
AS ON 29.09.2012
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
23.19 |
|
Bodies
corporate |
|
34.64 |
|
Directors
or relatives of directors |
|
24.80 |
|
Other
top fifty shareholders |
|
7.55 |
|
Others
|
|
9.82 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of
PVC Water Stop, Expansion/ Contraction Joints, HDPE and PVC Pipes, Fittings
and Allied Products. |
||||
|
|
|
||||
|
Products : |
|
PRODUCTION STATUS (AS ON 31.03.2011)
|
Particulars |
Unit |
Licensed
Capacity |
Installed
Capacity |
|
PVC and H.D.P.E. Products |
M.T. Per Current |
Not Required |
3272 |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
||||||||||||
|
|
|
||||||||||||
|
Bankers : |
Bank of Baroda,
Por Branch, Por-Ramangamadi, Vadodara - 391243, Gujarat, India |
||||||||||||
|
|
|
||||||||||||
|
Facilities : |
|
||||||||||||
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
D.C. Parikh and Company Chartered Accountants |
|
Address : |
D-307, Payal
Complex, Sayajigunj, Vadodara - 390005, Gujarat, India |
|
Income-tax
PAN of auditor or auditor's firm : |
ACTPP2402L |
|
|
|
|
Associate Company : |
Ø Jyoti Vinyl
Limited |
|
|
|
|
Enterprises which are owned, or have significant influence
of or are partners with Key management personnel and their relatives : |
Ø Tirupati Rubber
and Plastics Ø Jain Hydraulic
and Pneumatic Chennai |
CAPITAL STRUCTURE
AS ON 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
7,000,000 |
Equity Shares |
Rs. 10/- each |
Rs. 70.000 Millions |
|
|
|
|
|
Issued & Subscribed Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
6,376,200 |
Equity Shares |
Rs. 10/- each |
Rs. 63.762
Millions |
|
|
|
|
|
Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4,140,500 |
Equity Shares |
Rs. 10/- each |
Rs. 41.405
Millions |
|
|
Add: Forfeited Shares |
|
Rs. 12.374
Millions |
|
|
Total |
|
Rs. 53.779 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 |
53.779 |
53.779 |
53.779 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
0.000 |
0.000 |
5.138 |
|
|
4] (Accumulated Losses) |
(6.041) |
(7.824) |
(14.974) |
|
|
NETWORTH |
47.738 |
45.955 |
43.943 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
31.501 |
33.253 |
37.462 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
31.501 |
33.253 |
37.462 |
|
|
DEFERRED TAX LIABILITIES |
0.465 |
0.791 |
1.054 |
|
|
|
|
|
|
|
|
TOTAL |
79.704 |
79.999 |
82.459 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
15.157 |
16.764 |
18.539 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERRED TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
19.939
|
22.314 |
20.439 |
|
|
Sundry Debtors |
28.491
|
24.911 |
28.764 |
|
|
Cash & Bank Balances |
3.022
|
2.713 |
6.121 |
|
|
Other Current Assets |
3.109
|
7.309 |
1.800 |
|
|
Loans & Advances |
16.493
|
13.587 |
9.887 |
|
Total
Current Assets |
71.054
|
70.834 |
67.011 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
4.951
|
6.276 |
13.245 |
|
|
Other Current Liabilities |
0.770
|
0.669 |
0.159 |
|
|
Provisions |
0.786
|
0.654 |
1.196 |
|
Total
Current Liabilities |
6.507
|
7.599 |
14.600 |
|
|
Net Current Assets |
64.547
|
63.235 |
52.411 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
11.509 |
|
|
|
|
|
|
|
|
TOTAL |
79.704 |
79.999 |
82.459 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from operations |
80.783 |
80.945 |
70.530 |
|
|
|
Other Income |
7.370 |
4.238 |
4.869 |
|
|
|
TOTAL (A) |
88.153 |
85.183 |
75.399 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
58.614 |
67.347 |
|
|
|
|
Changes in
inventories of finished goods, work-in-progress and stock-in-trade |
4.087 |
(7.605) |
|
|
|
|
Employee benefit expense |
1.696 |
1.368 |
|
|
|
|
Other expenses |
12.484 |
12.218 |
|
|
|
|
Prior period items before tax |
0.087 |
0.000 |
|
|
|
|
TOTAL (B) |
76.968 |
73.328 |
63.898 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
11.185 |
11.855 |
11.501 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
7.511 |
7.977 |
8.097 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
3.674 |
3.878 |
3.404 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
1.874 |
1.911 |
1.717 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
1.800 |
1.967 |
1.687 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
0.017 |
(0.046) |
(0.132) |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
1.783 |
2.013 |
1.819 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’
BALANCE BROUGHT FORWARD |
(12.962) |
(14.975) |
(16.793) |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
(11.179) |
(12.962) |
(14.975) |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
28.149 |
58.890 |
33.752 |
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
14.728 |
24.327 |
N.A. |
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
0.44 |
0.49 |
0.44 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
2.02
|
2.36 |
2.41 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
2.23
|
2.43 |
2.39 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.09
|
2.25 |
1.97 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.04
|
0.04 |
0.04 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.66
|
0.72 |
0.85 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
10.92
|
9.32 |
4.59 |
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 |
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 |
Yes |
|
34] |
External Agency Rating,
if available |
No |
CONTINGENT
LIABILITIES:
|
Particulars |
31.03.2012 |
31.03.2011 |
|
|
(Rs. in Millions) |
|
|
The company has given corporate guarantee to Jyoti Vinyl Limited, for working
capital loan taken by them to the extent |
65.000 |
65.000 |
|
|
|
|
FIXED ASSETS:
Ø Land
Ø Buildings
Ø Factory building
Ø Plant and equipment
Ø Factory equipments
Ø Other plant and equipment
Ø Furniture and fixtures
Ø Vehicles
Ø Motor vehicles
Ø Office equipment
Ø Computer equipments
Ø Other equipments
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. 55.99 |
|
|
1 |
Rs. 84.19 |
|
Euro |
1 |
Rs. 71.86 |
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 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--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 |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTERS |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
30 |
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.