MIRA INFORM REPORT
|
Report Date : |
30.05.2013 |
IDENTIFICATION DETAILS
|
Name : |
DSM INDIA PRIVATE LIMITED [w.e.f.21.03.2011] |
|
|
|
|
Formerly Known
As : |
DSM ENGINEERING PLASTICS (INDIA) PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Unit No.401, 402, 4th Floor, NSG IT Parg, Aundh,
Pune-411007, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
23.12.1998 |
|
|
|
|
Com. Reg. No.: |
25-014523 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs 243.750 millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U25209PN1998PTC014523 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
PNED03160D |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACD7460J |
|
|
|
|
Legal Form : |
Private Limited Liability Company. |
|
|
|
|
Line of Business
: |
Subject is in the business of Manufacturing and Supplying Engineering
Plastics. |
|
|
|
|
No. of Employees
: |
Information declined by management |
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 2600000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a subsidiary of DSM Engineering Plastics International BV,
Netherland. It is an established company having satisfactory track record. There
appears drastic fall in the profitability in the current. However, general financial position of the company seems to be good.
Performance capacity appears to be high. 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 for normal 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 |
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. Sushil Jain |
|
Designation : |
Accounts Head |
|
Contact No.: |
91-20-66430800 |
|
Date : |
20.05.2013 |
LOCATIONS
|
Registered Office : |
Unit No.401, 402, 4th Floor, NSG IT Park, Aundh,
Pune-411007, Maharashtra, India |
|
Tel. No.: |
91-20-66430800 |
|
Fax No.: |
91-20-66430825 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Corporate Office: |
9th Floor, Tower A,Infinity Tower, DLF Phase – II, Gurgaon
– 122002, Haryana India |
|
Tel. No.: |
91-124-4179900 |
|
Fax No.: |
91-124-4179850 |
DIRECTORS
As on 28.09.2012
|
Name : |
Mr. Rajiv Chopra |
|
Designation : |
Managing Director |
|
Address : |
A 701, Som Vihar, New Delhi-110029, India |
|
Date of Birth/Age : |
22.08.1960 |
|
Date of Appointment : |
28.07.2009 |
|
DIN No.: |
02777537 |
|
|
|
|
Name : |
Mr. Lakshmanan Karuppiah Chettiar |
|
Designation : |
Director |
|
Address : |
Flat No 301 Silver Bill Nyati, Enclave
Mohamadwadi Kondwa, Pune-411028, Maharashtra, India |
|
Date of Appointment : |
20.09.2010 |
|
DIN No.: |
02884927 |
|
|
|
|
Name : |
Mr. Sanjaykumar Rameshkumar Jain |
|
Designation : |
Director |
|
Address : |
Summer Tower, 10th Floor, Bldg. No.1, Seth Motisha Lane,
Mumbai-400010, Maharashtra, India |
|
Date of
Birth/Age : |
11.02.1974 |
|
Date of
Appointment : |
30.09.2011 |
|
DIN No.: |
03507764 |
|
|
|
|
Name : |
Mr. Ajay Ashok Patwardhan |
|
Designation : |
Director |
|
Address : |
D-26, Oakwood Estate, Akashneem Marg, DLF Phase-II, Gurgaon-122002,
Haryana, India |
|
Date of
Birth/Age : |
17.08.1964 |
|
Date of
Appointment : |
30.09.2011 |
|
DIN No.: |
03511656 |
|
|
|
|
Name : |
Timothy Matheus Gerards Henricus Litjens |
|
Designation : |
Director |
|
Address : |
Maud Gosink, Huashan Road Lane1038, 107Bik 2 Apt 1701, Shanghai –
200050 |
|
Date of
Birth/Age : |
07.04.1979 |
|
Date of Appointment
: |
28.09.2012 |
|
DIN No.: |
06385805 |
|
|
|
|
Name : |
Mr. Bharath Ramraman Sesha |
|
Designation : |
Managing Director |
|
Address : |
Apartment No. 1004, Block B2, Uniworld City, South City I,
Gurgaon-122002, Haryana India |
|
Date of Birth/Age
: |
18.05.1972 |
|
Date of
Appointment : |
18.12.2012 |
|
DIN No.: |
01983066 |
KEY EXECUTIVES
|
Name : |
Mr. Gopalakrishnan R |
|
Designation : |
Secretary |
|
Address : |
DSM, 9th Floor, Infinity Tower A, DLF
Phase II, Gurgaon-122002, Haryana, India |
|
Date of Birth/Age : |
26.08.1983 |
|
Date of Appointment : |
28.09.2011 |
|
PAN No.: |
AKHPR8132K |
|
|
|
|
Name : |
Mr. Sushil Jain |
|
Designation : |
Accounts Head |
MAJOR SHAREHOLDERS
As on 15.12.2012
|
Names of Shareholders |
|
No. of Shares |
|
DSM Engineering Plastics BV, Netherland |
|
4 |
|
DSM Engineering Plastics International BV, Netherland |
|
85131075 |
|
Total |
|
85131079 |
Equity Share Break up (Percentage of Total Equity)
As on 28.09.2012
|
Category |
Percentage |
|
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 : |
Subject is in the business of Manufacturing and Supplying Engineering
Plastics. |
||||||||
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|
||||||||
|
Products : |
|
PRODUCTION STATUS (AS ON 31.03.2011)
|
Particulars |
Unit |
Licensed
Capacity |
Installed
Capacity |
|
Engineering Plastics |
MT |
20000 |
20000 |
GENERAL INFORMATION
|
No. of Employees : |
Information declined by management |
|
|
|
|
Bankers : |
Not Available |
|
|
|
|
|
|
|
Banking
Relations : |
---- |
|
|
|
|
Auditors : |
|
|
Name : |
S. R. Batliboi and Company Chartered Accountants |
|
Address : |
C-401, 4th Floor, Panchshil Tech Park, Yerwada (Near Don Bosco School), Pune-411006, Maharashtra India |
|
PAN No.: |
AALFS0506L |
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|
|
|
Holding Company: |
DSM Engineering Plastics International BV, Netherlands |
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|
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|
Ultimate Holding
Company: |
Koninklijke DSM N.V. |
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|
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|
Fellow Subsidiaries : |
|
CAPITAL STRUCTURE
AFTER 28.09.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
100000000 |
Equity Shares |
Rs.10/- each |
Rs. 1000.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
85131075 |
Equity Shares |
Rs.10/- each |
Rs. 851.311 Millions |
|
|
|
|
|
AS ON 28.09.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
25000000 |
Equity Shares |
Rs.10/- each |
Rs. 250.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
24375000 |
Equity Shares |
Rs.10/- each |
Rs. 243.750 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 |
243.750 |
243.750 |
243.750 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
409.169 |
375.312 |
261.892 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
652.919 |
619.062 |
505.642 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
1075.811 |
868.534 |
838.921 |
|
|
TOTAL BORROWING |
1075.811 |
868.534 |
838.921 |
|
|
DEFERRED TAX LIABILITIES |
4.915 |
34.943 |
23.842 |
|
|
|
|
|
|
|
|
TOTAL |
1733.645 |
1522.539 |
1368.405 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
803.436 |
878.711 |
899.287 |
|
|
Capital work-in-progress |
39.768 |
8.596 |
17.286 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERRED TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
328.847
|
345.448 |
250.603 |
|
|
Sundry Debtors |
607.877
|
514.456 |
465.166 |
|
|
Cash & Bank Balances |
33.620
|
18.485 |
1.325 |
|
|
Other Current Assets |
253.079
|
24.288 |
(1.528) |
|
|
Loans & Advances |
202.417
|
159.932 |
151.990 |
|
Total
Current Assets |
1425.840
|
1062.609 |
867.556 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
362.368
|
293.485 |
297.631 |
|
|
Other Current Liabilities |
154.906
|
116.307 |
102.907 |
|
|
Provisions |
18.125
|
17.585 |
15.186 |
|
Total
Current Liabilities |
535.399
|
427.377 |
415.724 |
|
|
Net Current Assets |
890.441
|
635.232 |
451.832 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
1733.645 |
1522.539 |
1368.405 |
|
PROFIT & LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
|
3351.990 |
|
|
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL (A) |
3351.990 |
2849.150 |
2174.730 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
|
3156.810 |
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL (B) |
3156.810 |
2515.190 |
1864.560 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
195.180 |
333.960 |
310.170 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES (D) |
120.550 |
66.420 |
58.370 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
74.630 |
267.540 |
251.800 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
80.860 |
78.290 |
71.910 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
(6.230) |
189.250 |
179.890 |
|
|
|
|
|
|
|
|
|
Less |
TAX (I) |
(40.090) |
75.830 |
68.420 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-I) (J) |
33.860 |
113.420 |
111.470 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
375.310 |
261.890 |
150.420 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
409.170 |
375.310 |
261.890 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Exports of goods at F.O.B value |
164.710 |
147.542 |
82.913 |
|
|
|
Services charges and commission (Gross) |
152.650 |
0.638 |
3.437 |
|
|
|
Reimbursement of expenses |
144.940 |
26.210 |
18.377 |
|
|
TOTAL EARNINGS |
462.300 |
174.390 |
104.727 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
1424.200 |
1309.030 |
884.496 |
|
|
|
Stores & Spares |
7.170 |
1.630 |
9.828 |
|
|
|
Capital Goods |
5.800 |
20.820 |
0.000 |
|
|
|
Others |
390.760 |
245.670 |
203.491 |
|
|
TOTAL IMPORTS |
1827.930 |
1577.150 |
1097.815 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
1.39 |
4.65 |
1.31 |
|
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KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
1.01
|
3.98 |
5.13 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.28
|
9.75
|
10.18 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.01
|
0.31
|
0.36 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
1.65
|
1.40
|
1.66 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.66
|
2.49
|
2.09 |
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 |
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 |
No |
|
24] |
Banking facility details |
No |
|
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 |
NOTE
Registered office of the company has been shifted from ‘Ashirwad’, 110/12,
Erandwane Prabhat Road, Lane No.14, Thorat Colony, Pune-400004, Maharashtra,
India to the present address w.e.f.06.11.2008
CORPORATE
INFORMATION
Subject is a private limited company domiciled in India and incorporated
under the provisions of the Companies Act, 1956. The company is engaged in the
manufacture and supply of engineering plastics granules for automobiles and low
voltage electrical applications. The company caters to both domestic and
international markets.
UNSECURED LOAN
|
Particulars |
31.03.2012 (Rs.
in Millions) |
31.03.2011 (Rs.
in Millions) |
|
Terms loans from
others |
841.707 |
781.894 |
|
Working capital
loans |
131.487 |
86.640 |
|
Loan repayable
on demand |
102.617 |
0.000 |
|
Total |
1075.811 |
868.534 |
CONTINGENT
LIABILITIES
(Rs. In Millions)
|
Particulars |
31.03.2012 |
31.03.2011 |
|
CST demand notice under Gujarat VAT for the year 2004 – 05 and 2005 –
06 pending in appeal, not acknowledged as debt (*) |
0.190 |
1.767 |
|
Income tax liability for transfer pricing for FY 06-07 (**) |
17.542 |
15.883 |
|
Maharashtra Value Added Tax FY 2007-08 and 2008-09 |
0.000 |
0.830 |
|
Demand notice
received under Central Excise Act pertaining to year 2006-07 pending in
appeal with CESTAT, not acknowledged as debt. |
88.700 |
0.000 |
|
Gujarat Value Added Tax FY 2006-07 (*) |
1.247 |
0.000 |
(*) The above amount has already been deposited with the respective
government authorities.
(**) Out of the above amount, an amount of Rs. 4.489 has already been
deposited with the respective government authorities.
FIXED ASSETS
- Plant and
Machinery
- Office
Equipments
- Furniture and
Fixtures
- Leasehold
Land
- Furniture and
Fixtures
- Factory
Building
- 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 records 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.56.24 |
|
|
1 |
Rs.84.54 |
|
Euro |
1 |
Rs.72.32 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Report Prepared
by : |
MRI |
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 |
NO |
|
--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 |
|
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.