|
Report Date : |
13.11.2013 |
IDENTIFICATION DETAILS
|
Name : |
RUTU AUTO GAS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
9, Parvati Nagar, B/H Shyamalraw House, 3A, Satellite Road, Ahmedabad – 380015, Gujarat |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
23.05.1997 |
|
|
|
|
Com. Reg. No.: |
04-032390 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 12.505 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U35999GJ1997PTC032390 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
AHMR00168A |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCR4089C |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
To carry on the business of manufacturing, buying, selling, reselling,
trading, importing and exporting of gas conversion kits and automobile parts. |
|
|
|
|
No. of Employees
: |
Not Divulged |
RATING & COMMENTS
|
MIRA’s Rating : |
B (26) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 102000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Unknown |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having moderate track record. Latest financials for the year 2012 and 2013 are not available with
us. As per previous financial of 2011, there appears losses recorded by
the company from its operation activities. However, trade relations are fair. Business is active. Payment terms
are unknown. The company can be considered for business dealing with great 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 – March 31st, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
|
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
The current downturn
provides an opportunity to push ahead with reforms to accelerate growth, says
the latest India Development Update report released by the World Bank. The
report says that the adverse effects of rupee depreciation are likely to be
offset by the gains in the exports performance due to improved external
competitiveness. Since May this year, the local currency has depreciated
substantially and fell to a record level of Rs 68.85 to a dollar on August, 28.
A stagflation like
situation appears to have arisen as inflation jumped to an eight month high of
6.46 % for the month of September. It is up from 6.10 % in August. Growth
continues to be muted with factory output plunging to 0.6 % in August.
Onion prices have risen nearly 300 % from last September. Vegetables cost
nearly 90 % more than they did last year. Wake up to the economic contribution
of slum dwellers. They contribute more than 7.5 % to the country’s gross
domestic product, according to a recent study conducted in 50 top cities.
136000 estimated
number of jobs created during the second quarter of the current financial year.
50000 estimated number of additional jobs in the field of corporate social
responsibility in the coming years.
The International Finance
Corporation expects to come out with its rupee linked bonds issue before the
end of 2013 as a part of its plan to raise $ 1 billion. The Apple iPhone 5c (Rs
41900 for 16 GB variant) and 5s (Rs 53500 for 16GB variant) has been launched
in India from 1st November.
The Land Acquisition
Act to provide just and fair compensation to farmers will come into force from
January 1 next year, said Rural Development Minister Jairam Ramesh. The Act
replaces a 119 year old registration. The Securities and Exchange Board of
India has approved the trading of currency futures on the Bombay Stock
Exchange. The exchange plans to launch the currency futures platform with
advanced trading technology by the end of November.
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. Kerav |
|
Designation : |
Finance Manager |
|
Contact No.: |
91-9825020054 |
|
Date : |
11.11.2013 |
LOCATIONS
|
Registered Office : |
9, Parvati Nagar, B/H Shyamalraw House, 3A, Satellite Road, Ahmedabad – 380015, Gujarat, India |
|
Tel. No. : |
91-79-26766889 |
|
Fax No. : |
91-79-26767878 |
|
E-Mail : |
|
|
Website : |
DIRECTORS
As on 30.09.2011
|
Name : |
Mr. Tusharbhai Shantilal Kothari |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Director |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Address : |
20, Shyamal Raw House-3A, Satellite Road, Ahmedabad – 380015, Gujarat, India |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
23.05.1997 |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
DIN No. : |
00398118 |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Other Directorship :
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Name : |
Nayan Manubhai Bhow |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Director |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Address : |
E-9, Shardul Appt, Near Shyamal Row House, 132 Ft Road, Satellite, Ahmedabad – 380015, Gujarat India |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
23.12.1953 |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
15.04.2013 |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
DIN No. : |
06555911 |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
KEY EXECUTIVES
|
Name : |
Mr. Kerav |
|
Designation : |
Finance Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
Tushar S. Kothari |
|
4970 |
|
Rupali Kothari |
|
597000 |
|
Tushar S. Kothari (Huf) |
|
100 |
|
Dhavan Bhow |
|
10 |
|
Anuj S. Shah |
|
10 |
|
Chandan Trust |
|
10 |
|
Rutu T. Kothari |
|
398420 |
|
Total |
|
1000520 |
As on 30.09.2011
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
To carry on the business of manufacturing, buying, selling, reselling,
trading, importing and exporting of gas conversion kits and automobile parts. |
|
|
|
|
Products : |
Automible Parts |
GENERAL INFORMATION
|
No. of Employees : |
Not Divulged |
|||||||||||||||
|
|
|
|||||||||||||||
|
Bankers : |
ICICI Bank Limited, Landmarkrace Cource Circle, Alkapuri, Baroda - 390015, Gujarat, India |
|||||||||||||||
|
|
|
|||||||||||||||
|
Facilities : |
Note: # Against Hypothecation of Stocks and Book Debts of the company,
hypothecation of company’s fixed assets, including present and future and
first exculsive charge in favour of Bank by way of equitable mortgage of
properties of Director @ Against the mortgage of property of Director |
|
Banking
Relations : |
-- |
|
|
|
|
Financial Institution: |
3i Infotech Trusteeship Services Limited, 3rd to 6th
Floor, International Infotech Park, Tower No.5, Vashi Railway Station
Complex, Vashi, Navi Mumbai - 400703, Maharashtra, India |
|
|
|
|
Auditors : |
|
|
Name : |
Dhirajlal Shah and Company Chartered Accountants |
|
Address : |
304, Simandhar Avenue , Kailash Society, Nr Hk House, Off Ashram Road, Ahmedabad- 380009, Gujarat, India |
|
Income-tax
PAN of auditor or auditor's firm : |
ACVPS7035A |
CAPITAL STRUCTURE
As on 30.09.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2,000,000 |
Equity Shares |
Rs.10/- each |
Rs. 20.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1,000,520 |
Equity Shares |
Rs.10/- each |
Rs. 10.005 Millions |
|
|
|
|
|
As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2,000,000 |
Equity Shares |
Rs.10/- each |
Rs. 20.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1,000,520 |
Equity Shares |
Rs.10/- each |
Rs. 10.005 Millions |
|
|
Add: Share application Money |
|
Rs. 2.500 Millions |
|
|
|
|
|
|
|
Total |
|
Rs. 12.505
Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
12.505 |
12.505 |
12.505 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
13.071 |
20.701 |
24.285 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
25.576 |
33.206 |
36.790 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.171 |
51.808 |
58.591 |
|
|
2] Unsecured Loans |
14.338 |
21.856 |
13.471 |
|
|
TOTAL BORROWING |
14.509 |
73.664 |
72.062 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
40.085 |
106.870 |
108.852 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
3.695 |
41.377 |
48.134 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.019 |
0.019 |
0.019 |
|
|
DEFERRED TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
9.187 |
9.880 |
22.353 |
|
|
Sundry Debtors |
2.406 |
41.294 |
25.912 |
|
|
Cash & Bank Balances |
1.432 |
2.821 |
4.739 |
|
|
Other Current Assets |
0.000 |
0.000 |
0.000 |
|
|
Loans & Advances |
50.831 |
67.433 |
44.366 |
|
Total
Current Assets |
63.856 |
121.428 |
97.370 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
19.931 |
30.817 |
26.753 |
|
|
Other Current Liabilities |
7.231 |
22.004 |
6.785 |
|
|
Provisions |
0.323 |
3.133 |
3.133 |
|
Total
Current Liabilities |
27.485 |
55.954 |
36.671 |
|
|
Net Current Assets |
36.371 |
65.474 |
60.699 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
40.085 |
106.870 |
108.852 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
139.211 |
176.527 |
219.703 |
|
|
|
Other Income |
4.974 |
5.335 |
1.775 |
|
|
|
TOTAL (A) |
144.185 |
181.862 |
221.478 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Raw Materials Consumed |
0.000 |
5.758 |
7.009 |
|
|
|
Manufacturing Expenses |
0.000 |
0.285 |
0.924 |
|
|
|
Trading Purchases |
112.333 |
144.925 |
181.162 |
|
|
|
Employee's Emolument |
8.516 |
6.356 |
20.267 |
|
|
|
Administration Expenses |
17.609 |
6.087 |
7.676 |
|
|
|
Selling & Distribution Expenses |
5.467 |
2.095 |
4.087 |
|
|
|
Increse/ (Decrease) in Stock |
0.693 |
5.812 |
9.710 |
|
|
|
Prior Period Adjustment (Nel) |
0.000 |
0.015 |
0.003 |
|
|
|
TOTAL (B) |
144.618 |
|
230.838 |
|
|
|
|
171.333 |
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (A-B) (C) |
(0.433) |
10.529 |
(9.360) |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
6.222 |
12.645 |
9.315 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
(6.655) |
(2.116) |
(18.675) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
1.744 |
1.468 |
2.081 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F) (G) |
(8.399) |
(3.584) |
(20.756) |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
(0.769) |
0.000 |
0.185 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-H) (I) |
(7.630) |
(3.584) |
(20.941) |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
20.401 |
23.985 |
44.926 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
12.771 |
20.401 |
23.985 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
(7.63) |
(3.58) |
(20.93) |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
(5.29)
|
(1.97) |
(9.46) |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
(6.03)
|
(2.03) |
(9.45) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(12.43)
|
(2.20) |
(14.26) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.33)
|
(0.11) |
(0.56) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.57
|
2.22 |
1.96 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.32
|
2.17 |
6.66 |
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 |
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 |
No |
|
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 |
INDEX OF CHARGES: NO
CHARGES EXIST FOR COMPANY
UNSECURED LOANS
|
PARTICULAR |
31.03.2011 (Rs.
in Millions) |
31.03.2010 (Rs.
in Millions) |
|
Form Directors/ Shareholders |
0.000 |
1.000 |
|
Form NBFC** |
14.338 |
19.879 |
|
From Bank |
0.000 |
0.977 |
|
Total |
14.338 |
21.856 |
|
Note: **Against personal guarantee of Directors only. |
||
REVIEW OF OVER ALL
PERFORMANCE:
During the year, turnover of the Company was Rs.139.200 Millions as against Rs. 176.500 Millions in the previous year. Your Company suffered net loss before depreciation and tax of Rs. 6.600 Millions as against loss of Rs. 2.100 Millions in previous year.
FIXED ASSETS
Tangible Assets
Building
Plant
and Machinery
Computers
Office
Equipments
Furniture
Dead
Stock
Vehicles
Intangible Asset
Computer
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.63.59 |
|
|
1 |
Rs.101.56 |
|
Euro |
1 |
Rs.85.15 |
INFORMATION DETAILS
|
Information Gathered
by : |
JML |
|
|
|
|
Report Prepared
by : |
MRI |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
2 |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
26 |
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.