MIRA INFORM REPORT
|
Report Date : |
23.10.2013 |
IDENTIFICATION DETAILS
|
Name : |
E A WATER PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
A – 1/152, Ignou Roadneb Sarai, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on)
: |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
16.05.2000 |
|
|
|
|
Com. Reg. No.: |
55-105715 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 0.371 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74899DL2000PTC105715 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
DELE02112F |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACE7028F |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Providing Marketing Solutions for Water Industry. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (28) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 21000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having moderate track record. There
appears a drastic dip in the profitability of the company during the year
2012. However, trade relations are reported as fair. Business is active.
Payments are reported to be slow but correct. 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) |
|
|
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 finance ministry
has started preparations for Budget 2014/15. With general elections scheduled
to be held by May next year, there will only be an interim budget. The new
government will present the fiscal Budget.
The Supreme Court
has barred clinical trials for new drugs till a monitoring mechanism is put in
place to protect the lives of people on which the drugs are tested.
Mumbai has been
named the world’s second most honest city according to a survey on 15 cities
worldwide by Readers’ Digest magazine. Finnish capital
3.7 % Growth of the
core sector in August, a seven month high. This takes the overall growth in
April-August this year to 2.3 % compared with 6.3 % in the corresponding period
next financial year.
$19 million
Estimated average spending by companies across the globe including India, on
social media this year, according to a global study by information technology
major Tata Consultancy Services. This will rise to $ 24 million in 2015.
Rising inflation,
fewer employment avenues and dwindling earnings are taking a toll on the
spending capacity in India. Over 72 % respondents from middle and lower middle
income families would be forced to slash their Diwali expenditure by 40 % and
on average spend nearly 25 % of their monthly salary on Diwali, according to a
survey by Assochem.
Analysts believe the
shutdown of the US government would have limited impact in sectors such as IT
or tourism that are dependent on Visa clearances.
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 / Head Office : |
A – 1/152, Ignou Roadneb Sarai, New Delhi – 110068, India |
|
Tel. No.: |
91-11-43100500 |
|
Fax No.: |
91-11-43100599 |
|
E-Mail : |
National : enquiry@eawater.com International : intlenquiry@eawater.com |
|
Website : |
|
|
|
|
|
Regional Office : |
Located At : œ Mumbai œ Chennai œ Ahmedabad |
DIRECTORS
As on: 10.09.2012
|
Name : |
Mr. Kewal Krishan Nohria |
|
Designation : |
Director |
|
Address : |
11, Aryavartha, N. D. Road, Mumbai – 400026, Maharashtra, India |
|
Date of Birth/Age : |
04.10.1932 |
|
Date of Appointment : |
01.07.2003 |
|
DIN No. : |
00060015 |
|
|
|
|
Name : |
Mr. Sunil Ghorawat |
|
Designation : |
Director |
|
Address : |
H. N. 1507-A, Beverly Park II, DLF City, Gurgaon – 122002, Haryana,
India |
|
Date of Birth/Age : |
20.09.1968 |
|
Date of Appointment : |
16.05.2000 |
|
DIN No. : |
00189277 |
|
|
|
|
Name : |
Mr. Hariharan Subramaniam |
|
Designation : |
Director |
|
Address : |
106, MIG DDA Flats, Prasad Nagar, Karol Bagh, New Delhi – 110005,
India |
|
Date of Birth/Age : |
06.03.1974 |
|
Date of Appointment : |
01.07.2003 |
|
DIN No. : |
00639977 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 10.09.2012
|
Names of Shareholders |
No. of Shares |
|
Ghorawat Sunil |
1 |
|
Fontus Water Private Limited |
370638 |
|
|
|
|
Total |
370639 |
As on: 10.09.2012
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Bodies corporate |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Providing Marketing Solutions for Water Industry. |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
|
|
|
|
Bankers : |
Not Available |
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
O. P. Tulsyan and Company Chartered Accountants |
|
Address : |
B – 27/5, (D.S.), Near Raja Garden Flyover, Ramesh Nagar, New Delhi –
110015, India |
|
Tel. No.: |
91-11-42288258 |
|
PAN No. : |
AAAFO072Q |
CAPITAL STRUCTURE
As on: 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1000000 |
Equity Shares |
Rs.1/- each |
Rs.1.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
370639 |
Equity Shares |
Rs.1/- each |
Rs. 0.371 Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2012 |
31.03.2011 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
0.371 |
0.371 |
|
(b) Reserves & Surplus |
|
4.832 |
4.726 |
|
(c) Money
received against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
|
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
|
5.203 |
5.097 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
|
0.058 |
0.065 |
|
(c) Other long term
liabilities |
|
0.000 |
0.000 |
|
(d) long-term
provisions |
|
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
|
0.058 |
0.065 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term
borrowings |
|
18.500 |
13.500 |
|
(b) Trade payables |
|
8.531 |
5.665 |
|
(c) Other current
liabilities |
|
1.225 |
1.102 |
|
(d) Short-term
provisions |
|
2.167 |
2.717 |
|
Total Current
Liabilities (4) |
|
30.423 |
22.984 |
|
|
|
|
|
|
TOTAL |
|
35.684 |
28.146 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
1.178 |
1.436 |
|
(ii) Intangible Assets |
|
0.001 |
0.001 |
|
(iii) Capital
work-in-progress |
|
0.000 |
0.000 |
|
(iv)
Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
0.000 |
0.000 |
|
(e) Other
Non-current assets |
|
0.000 |
0.000 |
|
Total Non-Current
Assets |
|
1.179 |
1.437 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
0.000 |
0.000 |
|
(b) Inventories |
|
1.226 |
0.926 |
|
(c) Trade receivables |
|
15.231 |
10.347 |
|
(d) Cash and cash
equivalents |
|
3.773 |
6.312 |
|
(e) Short-term loans
and advances |
|
11.284 |
6.742 |
|
(f) Other current
assets |
|
2.991 |
2.382 |
|
Total Current Assets |
|
34.505 |
26.709 |
|
|
|
|
|
|
TOTAL |
|
35.684 |
28.146 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
0.371 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
3.018 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
3.389 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
0.000 |
|
|
2] Unsecured Loans |
|
|
0.776 |
|
|
TOTAL BORROWING |
|
|
0.776 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
4.165 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
0.588 |
|
|
Capital work-in-progress |
|
|
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.000 |
|
|
DEFERREX TAX ASSETS |
|
|
0.007 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
0.000 |
|
|
Sundry Debtors |
|
|
5.900 |
|
|
Cash & Bank Balances |
|
|
4.699 |
|
|
Other Current Assets |
|
|
0.000 |
|
|
Loans & Advances |
|
|
2.821 |
|
Total
Current Assets |
|
|
13.420 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
3.708 |
|
|
Other Current Liabilities |
|
|
5.627 |
|
|
Provisions |
|
|
0.515 |
|
Total
Current Liabilities |
|
|
9.850 |
|
|
Net Current Assets |
|
|
3.570 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
4.165 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
63.925 |
58.877 |
44.803 |
|
|
|
Other Income |
NA |
NA |
NA |
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
1.111 |
3.134 |
4.190 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
0.471 |
0.376 |
0.191 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
0.640 |
2.758 |
3.999 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
0.541 |
0.785 |
1.243 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX |
0.099 |
1.973 |
2.756 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
0.106 |
1.708 |
3.503 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Value of Export of Services |
11.841 |
0.000 |
7.511 |
|
|
TOTAL EARNINGS |
11.841 |
0.000 |
7.511 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
0.29 |
4.61 |
10.13 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
0.15
|
3.35 |
6.15 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.79
|
9.80 |
28.55 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.12
|
0.54 |
1.18 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
3.55
|
2.65 |
0.23 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.13
|
1.16 |
1.36 |
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 |
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 |
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:
The registered office of the company has been shifted
from E – 189/ 1A, Main Road, Savitri Nagar, New Delhi – 110017, India to the
present address w.e.f 23.08.2004.
UNSECURED LOAN:
|
Particulars |
31.03.2012 [Rs.
in Millions] |
31.03.2011 [Rs.
in Millions] |
|
Short Term
Borrowing |
|
|
|
Other loans and advances (from directors/ shareholders – Related
Parties) |
18.500 |
13.500 |
|
|
|
|
|
Total |
18.500 |
13.500 |
INDEX CHARGES:
No Charges Exist for Company
OPERATIONS,
BUSINESS PERFORMANCE AND FUTURE OUTLOOK
The
company has built a strong reputation, based on its quality and reach, for
being the leading knowledge and marketing solutions provider in the water and
waste water sector. Its publishing, training and exhibition businesses are
highly regarded by its customers
Everything
About Water's flagship print magazine continues to grow and draw advertisers
from all over the world. It grew its customer base last year and attracted over
70 new customers. the company organized its annual tradeshow in Greater Noida
in February 2012 that drew over 200 exhibitors from all over the world.
Training business continued to be an emphasis, as the company organized
programmers on new topics like leakage prevention, ground water management and
rural drinking water supply
International
growth has been a significant initiative. the company organized training
programmers in international locations like Indonesia, Malaysia, Sri Lanka,
Bangladesh and Dubai, which drew a very good response. There is a significant
opportunity for a water platform like Everything About Water in other Asian and
African markets. These fragmented markets need offerings for raising awareness
and creating marketing reach. International business grew and contributed about
20% of their total revenues.
The
slowdown in the economy in the last two quarters of the financial year, led to
many water sector companies reducing their spend on marketing. Adopting a more
wait-and-watch approach, many players cut down on advertising and trade show
participation, which had a slightly adverse impact on the company's business.
However, it continued to attract new customers, and this allowed the company to
grow its business marginally by about 9% over the previous year.
In
a growing Indian water sector, Everything About Water continues to maintain its
strong leadership position in all the segments it operates in. Besides the
strategic value it provides to the water sector as a whole, the unique business
model would be extended to international markets.
FUTURE PLANS
the company plans
to continue to grow its innovative approach and leadership role in the
publishing, graining and event business. Government would be an important
segment of growth, as everything about Water builds its relationship with
various ministry bodies, municipalities and quasi-government organizations. It
will be offering more training and knowledge solutions to this customer
segment, in the coming year. With more training programmers planned outside
India and a larger team to focus on this segment, the International Business
will be another focus area for the company in 2012-13.
Being highly
unorganized and fragmented, market information on the water sector, related to
opportunity sizing, growth rates and project updates is quite limited. With its
background of domain knowledge, industry relationships and reach,
EverythingAboutWater is in a unique position to offer market consulting
information. The company will be strengthening the consulting business and
offering new products in this business. With new companies entering the water
sector, EverythingAboutWater is well placed to offer more and better knowledge
and marketing solutions to the entire industry.
FIXED ASSETS:
œ
Office Equipments
œ
Furniture
œ
Computers
œ
E A water Portal
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.61.78 |
|
|
1 |
Rs.99.66 |
|
Euro |
1 |
Rs.84.48 |
INFORMATION DETAILS
|
Report Prepared
by : |
ANK |
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 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
28 |
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.