MIRA INFORM REPORT
|
Report Date : |
18.11.2013 |
IDENTIFICATION DETAILS
|
Name : |
P.V.K. ENGINEERS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
8-3-293 / B2 / A / 270 / R / A / 1 Plot No. 270 E/A, Jubileehills,
Hyderabad – 500033, Andhra Pradesh |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
12.06.1991 |
|
|
|
|
Com. Reg. No.: |
012787 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.69.133 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U29219AP1991PTC012787 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
HYDP01390E |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCP9391D |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
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|
|
|
Line of Business
: |
Design and Manufacturing of Engineering Components. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (29) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 676000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
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|
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|
Litigation : |
Clear |
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|
|
|
Comments : |
Subject is an established company having moderate track record. Profit
margin of the company appears to be low. However, trade relations are
reported as fair. Business is active. Payments are reported to be slow but
coorect. The company can be considered for business dealings with some
cautions. |
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) |
|
India |
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.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long term rating BB- |
|
Rating Explanation |
Moderate risk of default |
|
Date |
February 21, 2013 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short term rating A4+ |
|
Rating Explanation |
Minimal degree of safety. It carry high credit risk. |
|
Date |
February 21, 2013 |
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 DENIED BY
|
Name : |
Mr. Venu |
|
Designation : |
Account Department |
|
Contact No.: |
91-40-23544558 |
|
Date : |
14.11.2013 |
LOCATIONS
|
Registered Office : |
8-3-293 / B2 / A / 270 / R / A / 1 Plot No. 270 E/A, Jubileehills,
Hyderabad – 500033, Andhra Pradesh, India |
|
Tel. No. : |
91-40-2354 4558, 2354 2019 |
|
Fax No. : |
91-40-2354 4558 |
|
E-Mail : |
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|
Website : |
|
|
|
|
|
Factory : |
Plot No.23, Phase-IV, I.D.A. Jeedimetla, Hyderabad – 500
055, India |
|
Tel. No. : |
91-40-2309 5436 |
|
Fax No. : |
91-40- 2309 6561 |
DIRECTORS
As on 26.09.2013
|
Name : |
Venkata Krishna Reddy Panati |
|
Designation : |
Managing Director |
|
Address : |
8-2-293/82/A/270/E/A M.CH. No. 985, Road No. 10, Jublee Hills, Hyderabad – 500033, Andhra Pradesh, India |
|
Date of Birth/Age : |
05.05.1949 |
|
Date of Appointment : |
12.06.1991 |
|
DIN No. : |
00308975 |
|
|
|
|
Name : |
Radha Krishna Reedy Panati |
|
Designation : |
Director |
|
Address : |
8-2-293/82/A/270/E/A M.CH. No. 985, Road No. 10, Jublee Hills, Hyderabad – 500033, Andhra Pradesh, India |
|
Date of Birth/Age : |
24.03.1959 |
|
Date of Appointment : |
12.06.1991 |
|
DIN No. : |
00309081 |
|
|
|
|
Name : |
Veera Anjaneyulu Kota |
|
Designation : |
Director |
|
Address : |
H. No. SRT 610, Opposite Vinayaka Ground, Sanathnagar Hyderabad –
500018, Andhra Pradesh, India |
|
Date of Birth/Age : |
14.06.1964 |
|
Date of Appointment : |
18.08.2010 |
|
DIN No. : |
03154990 |
|
|
|
|
Name : |
Mr. Rajasekhar Mathuru Reddy |
|
Designation : |
Additional Director |
|
Address : |
2-22-232/2, Jaya Nagar, Kukatpally, Hyderabad – 500072, Andhra
Pradesh, India |
|
Date of Birth/Age : |
09.03.1973 |
|
Date of Appointment : |
02.04.2012 |
|
DIN No. : |
053.47148 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 26.09.2013
|
Names of Shareholders |
No. of Shares |
|
P Venkata Krishna Reddy |
402465 |
|
P Radha Krishna Reedy |
264464 |
|
Oshin Investment and Finance Private Limited, India |
5000 |
|
Sidh Housing Development Company Limited, India |
19400 |
|
|
|
|
Total |
691329 |
As on 26.09.2013
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
Bodies corporate |
3.53 |
|
Directors or relatives of Directors |
96.47 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Design and Manufacturing of Engineering Componets. |
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Products : |
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GENERAL INFORMATION
|
Customers : |
Ø Bharat Heavy
Electricals Limited Ø Larsen and Turbo
Ø ABB Limited Ø Reliance
Industries Ø Thermax Cogen Ø Dlf Industries
Limited Ø Krupp Industries
Limited Ø Voith India
Private Limited Ø Walchandnagar Industries Ø Mitsui Babcock
Engineerings Ø Turbomach India
Private Limited Ø Tata Projects Ø Hindustan
Petrolium Company Limited (HPCL) Ø Bharat Petrolium
Company Limited (BPCL) Ø Indian Oil
Corporation Limited (IOCL) Ø Oil and Natural Gas Commission (ONGC) Ø Gas Authority Of India Limited (GAIL) Ø Reliance
Industries Limited (RIL) Ø National Thermal
Power Corporation (NTPC) |
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No. of Employees : |
Not Available |
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Bankers : |
State Bank of Hyderabad
Shapurnagar Branch, Hyderabad - 500055, Andhra Pradesh, India |
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Facilities : |
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Banking
Relations : |
-- |
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|
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|
Auditors : |
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|
Name : |
Ramana Reddy amd Associates Chartered Accountants |
|
Address : |
10-5-6/B 2nd, Floor My Home, Plaza 103 Masab Tank Hyderabad
– 500028, Andhra Pradesh, India |
|
PAN
No. : |
AADFA6113F |
|
|
|
|
Associates : |
v
SEA Gold Infrastructure Limited CIN No. :
L70200AP1993PLC016389 v
PVK and Prk Technologies Private Limited CIN No. :
U29219AP2010PTC071011 v
P.V.K and P.R.K Engineers Private Limited CIN No. :
U29299AP2011PTC075437 v
Nandian P.V.K Energy Private Limited CIN No. :
U40100AP2011PTC074907 |
CAPITAL STRUCTURE
As on 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
700000 |
Equity Shares |
Rs.100/- each |
Rs.70.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
691329 |
Equity Shares |
Rs.100/- each |
Rs.69.133 Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
69.133 |
39.133 |
19.133 |
|
(b) Reserves & Surplus |
49.382 |
41.047 |
32.206 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
50.561 |
55.006 |
20.006 |
|
Total
Shareholders’ Funds (1) + (2) |
169.076 |
135.186 |
71.345 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
50.289 |
22.218 |
0.266 |
|
(b) Deferred tax liabilities (Net) |
0.299 |
0.549 |
0.658 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
50.588 |
22.767 |
0.924 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
174.486 |
189.350 |
163.800 |
|
(b) Trade
payables |
72.227 |
154.600 |
55.606 |
|
(c) Other
current liabilities |
54.969 |
20.620 |
19.600 |
|
(d) Short-term
provisions |
4.397 |
4.802 |
0.895 |
|
Total Current
Liabilities (4) |
306.079 |
369.372 |
239.901 |
|
|
|
|
|
|
TOTAL |
525.743 |
527.325 |
312.170 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
14.982 |
8.509 |
10.624 |
|
(ii)
Intangible Assets |
0.056 |
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
25.669 |
7.933 |
0.000 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
26.000 |
0.000 |
0.500 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
17.295 |
0.000 |
0.000 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
84.002 |
16.442 |
11.124 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
138.047 |
102.872 |
20.490 |
|
(c) Trade
receivables |
239.043 |
348.422 |
242.355 |
|
(d) Cash
and cash equivalents |
29.560 |
11.292 |
8.584 |
|
(e)
Short-term loans and advances |
28.701 |
42.431 |
25.394 |
|
(f) Other
current assets |
6.390 |
5.868 |
4.223 |
|
Total
Current Assets |
441.741 |
510.885 |
301.046 |
|
|
|
|
|
|
TOTAL |
525.743 |
527.325 |
312.170 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
1532.558 |
1272.653 |
638.487 |
|
|
|
Other Income |
NA |
NA |
NA |
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
36.636 |
29.946 |
24.976 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
22.520 |
22.353 |
14.555 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
14.116 |
14.973 |
10.421 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
1.635 |
1.438 |
1.433 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
12.481 |
13.535 |
8.988 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
NA |
NA |
NA |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.63
|
2.60 |
2.88 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.07
|
0.10 |
0.12 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
1.33
|
1.56 |
2.30 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.44
|
1.38 |
1.25 |
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 |
Yes |
|
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 |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
UNSECURED LOANS
|
PARTICULAR |
31.03.2013 (Rs.
in Millions) |
31.03.2012 (Rs.
in Millions) |
|
LONG TERM
BORROWINGS |
|
|
|
Other loans and advances, others |
40.000 |
19.502 |
|
|
|
|
|
Total |
40.000 |
19.502 |
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
90261972 |
31/10/2000 |
15,500,000.00 |
STATE BANK OF HYDERABAD |
SAPURNAGAR BARNCH, HYDERABAD, Andhra Pradesh, INDIA |
- |
|
2 |
90135927 |
29/09/2011 * |
270,000,000.00 |
STATE BANK OF HYDERABAD |
SHAPUR NAGAR BRANCH, SHAPUR NAGAR, HYDERABAD, Andhra Pradesh - 500055,
INDIA |
B23769912 |
|
3 |
90135922 |
28/01/2003 * |
9,600,000.00 |
STATE BANK OF HYDERABAD |
SHAPUR NAGAR BRANCH, JEEDIMETLA, HYDERABAD, Andhra Pradesh - 500055,
INDIA |
- |
* Date of charge modification
OPERATIONS OF THE COMPANY:
The company has recorded
a turnover of Rs.1532.558 millions as against Rs.1272.653 millions in the
previous year and earned a net profit of Rs.12.481 millions as against
Rs.13.535 millions in the previous year after providing depreciation of
Rs.1.635 millions and financial charges of Rs. 22.520 millions as against
depreciation of Rs.1.438 millions and financial charges of Rs.22.353 millions
in the previous year
FIXED ASSETS
v Land
v Buildings
v Plant and equipment
v Furniture and fixtures
v Vehicles
v Motor vehicles
v Office equipment
v Computer 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 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.63.06 |
|
|
1 |
Rs.101.45 |
|
Euro |
1 |
Rs.84.95 |
INFORMATION DETAILS
|
Information
Gathered by : |
PDT |
|
|
|
|
Report Prepared
by : |
ANK |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
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 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
2 |
|
--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 |
|
29 |
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.