MIRA
INFORM REPORT
|
Report Date : |
30.10.2013 |
IDENTIFICATION DETAILS
|
Name : |
CENTUM RAKON INDIA PRIVATE LIMITED (w.e.f. 22.05.2008) |
|
|
|
|
Formerly Known
As : |
CENTUM FREQUENCY PRODUCTS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
No.44, KHB Industrial Area, Yelahanka New Town, |
|
|
|
|
Country : |
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|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
17.12.2007 |
|
|
|
|
Com. Reg. No.: |
08-044692 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs. 56.000
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U32109KA2007PTC044692 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
BLRC07868A |
|
|
|
|
PAN No.: [Permanent Account No.] |
AADCC2533L |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
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|
|
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Line of Business
: |
Manufacturer and Trader of Electronic Modules and Sub Systems. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (46) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 1500000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
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|
|
|
Comments : |
Subject is an established company having satisfactory track record. Sales and profit of the company has increased in 2013. Overall financial
position appears to be decent. Trade relation reported to be fair. Business is active. Payment terms
are reported to be usually correct. The company can be considered for business dealing 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 – 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 Helsinki bagged the top spot
for the world’s most honest city while Lisbon, the capital of Portugal, proved
to be the least honest. The survey put hundreds of people to test in four
continents to find out just how honest they were by dropping wallets and seeing
how many would be returned.
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.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long term rating: “BBB” |
|
Rating Explanation |
Moderate credit quality and average credit
risk. |
|
Date |
27.09.2012 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short term rating: “A3 +” |
|
Rating Explanation |
Moderate degree of safety and higher credit
risk. |
|
Date |
27.09.2012 |
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 : |
No.44, KHB Industrial Area, Yelahanka New Town, Bangalore – 5600064, Karnataka,
India |
|
Tel. No.: |
91-80-41436033/ 30046522 |
|
Fax No.: |
91-80-41436005 |
|
E-Mail : |
|
|
|
|
|
Branch Office: |
#12, KHB Industrial Area, Yelahanka New Town, Bangalore – 560106,
Karnataka, India |
|
Tel. No.: |
91-80-30046000 |
DIRECTORS
As on: 27.06.2013
|
Name : |
Mr. Apparao Venkata Mallavarapu |
|
Designation : |
Director |
|
Address : |
354, 13th Cross, 5th Main HIG Colony, RMV II,
Stage Sanjay Nagar, Bangalore – 560095, Karnataka, India |
|
Date of Birth/Age : |
08.10.1956 |
|
Date of Appointment : |
30.01.2008 |
|
PAN No.: |
AAOPA6001H |
|
DIN No.: |
00286308 |
|
|
|
|
Name : |
Mr. Seetharama Subramanian Krishnan |
|
Designation : |
Director |
|
Address : |
Flat No. 107, Ushas Apartments, 26, 16th Main Jayanagar, 4th
Block, Bangalore – 560011, Karnataka, India |
|
Date of Birth/Age : |
14.05.1946 |
|
Date of Appointment : |
30.01.2008 |
|
PAN No.: |
AEWPK3287K |
|
DIN No.: |
01807344 |
|
|
|
|
Name : |
Mr. Brent John Robinson |
|
Designation : |
Director |
|
Address : |
85A, Whites Road, Whitford, Auckland – 1750 |
|
Date of Birth/Age : |
30.03.1959 |
|
Date of Appointment : |
25.03.2008 |
|
DIN No.: |
02144451 |
|
|
|
|
Name : |
Mr. Darren Paul Robinson |
|
Designation : |
Director |
|
Address : |
5, Birch Park Lane Road, I Whites Road, Whitford, Auckland – 1750 |
|
Date of Birth/Age : |
28.09.1961 |
|
Date of Appointment : |
25.03.2008 |
|
DIN No.: |
02144458 |
KEY EXECUTIVES
|
Name : |
Mr. Unnikrishnan Palakkil Mavilavalappil |
|
Designation : |
Manager |
|
Address : |
C-312, Gowri Apartment New Bel road, Bangalore – 560054, Karnataka,
India |
|
Date of Birth/Age : |
06.12.1956 |
|
Date of Appointment : |
27.06.2008 |
|
PAN No.: |
AAFPU9962N |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 27.06.2013
|
Names of Shareholders |
|
No. of Shares |
|
Centum Electronics Limited, India |
|
2855999 |
|
Apparao Venkata Mallavarapu |
|
1 |
|
Rakon Mauritius Limited, India |
|
2744000 |
|
|
|
|
|
Total |
|
5600000 |
Equity Share Break up (Percentage of Total Equity)
As on: 27.06.2013
|
Category |
|
Percentage |
|
|
|
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
49.000 |
|
Bodies corporate |
|
51.00 |
|
|
|
|
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Trader of Electronic Modules and Sub Systems. |
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Products : |
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GENERAL INFORMATION
|
No. of Employees : |
Not Available |
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Bankers : |
· CITI Bank N. A., 2nd Floor, No. 5, M. G. Road,, Bangalore - 560001, Karnataka, India · State Bank of India, Specialised Mid-Corporate Branch, # 136, Railway Parallel Road, Kumarapark West, Bangalore - 560020, Karnataka, India · Export-Import Bank of India, Floor 21, Center One Building, World Trade Center, Curee Parade, Mumbai - 400005, Maharashtra, India |
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Facilities : |
(Rs.
In Millions)
|
|
|
|
|
Banking
Relations : |
-- |
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|
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|
Auditors : |
|
|
Name : |
BSR and Company Chartered Accountants |
|
Address : |
Maruthi Info-Tech Centre, 11-12/1, Inner Ring Road, Koramangala, Bangalore - 560 071, India |
|
PAN No.: |
AAAFB9852F |
|
|
|
|
Holding company : |
· Centum Electronics Limited, India CIN No.:L85110KA1993PLC013869 |
|
|
|
|
Joint Venture : |
· Rakon (Mauritius) Limited, Mauritius |
|
|
|
|
Associates: |
· Rakon France SAS, France · Rakon UK Limited, UK · Rakon Limited, New Zealand · Centum Industries Private Limited, India CIN No.:U31909KA2003PTC032176 |
CAPITAL STRUCTURE
As on: 27.06.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
7000000 |
Equity Shares |
Rs.10/- each |
Rs. 70.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5600000 |
Equity Shares |
Rs.10/- each |
Rs. 56.000
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 |
56.000 |
56.000 |
56.000 |
|
(b) Reserves & Surplus |
331.041 |
307.930 |
270.588 |
|
(c) Money received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Total Shareholders’
Funds (1) + (2) |
387.041 |
363.930 |
326.588 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
3.436 |
164.912 |
205.451 |
|
(b) Deferred tax liabilities (Net) |
17.308 |
26.010 |
18.353 |
|
(c) Other long term liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
4.674 |
3.339 |
2.678 |
|
Total Non-current Liabilities (3) |
25.418 |
194.261 |
226.482 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
224.891 |
124.235 |
126.856 |
|
(b) Trade payables |
158.727 |
144.251 |
146.670 |
|
(c) Other current liabilities |
119.261 |
88.830 |
38.747 |
|
(d) Short-term provisions |
176.773 |
4.778 |
10.329 |
|
Total Current Liabilities (4) |
679.652 |
362.094 |
322.602 |
|
|
|
|
|
|
TOTAL |
1092.111 |
920.285 |
875.672 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
387.912 |
430.217 |
391.813 |
|
(ii) Intangible Assets |
0.195 |
0.601 |
0.688 |
|
(iii) Capital work-in-progress |
0.208 |
3.316 |
6.263 |
|
(iv) Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
28.342 |
32.203 |
47.137 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
416.657 |
466.337 |
445.901 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
181.635 |
180.158 |
215.339 |
|
(c) Trade receivables |
440.689 |
243.054 |
192.594 |
|
(d) Cash and cash equivalents |
33.655 |
7.553 |
6.411 |
|
(e) Short-term loans and advances |
19.475 |
23.183 |
15.427 |
|
(f) Other current assets |
0.000 |
0.000 |
0.000 |
|
Total Current Assets |
675.454 |
453.948 |
429.771 |
|
|
|
|
|
|
TOTAL |
1092.111 |
920.285 |
875.672 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Turnover |
1078.730 |
841.880 |
729.470 |
|
|
|
Other Income |
NA |
NA |
NA |
|
|
|
TOTAL (A) |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL (B) |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
326.530 |
146.100 |
115.630 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
17.240 |
17.360 |
13.660 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
309.290 |
128.740 |
101.970 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
79.140 |
72.400 |
57.450 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
230.150 |
56.340 |
44.520 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
74.420 |
19.000 |
13.460 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
155.730 |
37.340 |
31.060 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
763.061 |
699.025 |
NA |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
27.81 |
6.67 |
5.55 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
Net Profit Margin (PBT/Sales) |
(%) |
21.33 |
6.69 |
6.10 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
21.08 |
6.15 |
5.12 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.60 |
0.16 |
0.13 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.59 |
0.80 |
1.01 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.99 |
1.25 |
1.33 |
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 |
No |
|
34] |
External Agency Rating, if available |
Yes |
UNSECURED LOAN
(Rs.
In Millions)
|
Particulars |
As on 31.03.2013 |
As on 31.03.2012 |
|
Long term
borrowings |
|
|
|
Loans and advance from related parties |
0.000 |
137.781 |
|
|
|
|
|
Total |
0.000 |
137.781 |
Note:
The Registered Office of the company has been shifted from 67-4, 4th
Cross, Lavelle Road, Bangalore – 560001, Karnataka, India to the present
address w.e.f. 30.01.2008.
PERFORMANCE
During the Sixth year of the operations, the Company posted a turnover of Rs. 1078.730 million and Profit before Tax of Rs. 230.150 million
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10342537 |
09/03/2012 |
105,000,000.00 |
EXPORT-IMPORT BANK OF INDIA |
FLOOR 21, CENTER ONE BUILDING, WORLD TRADE CENTER, CUREE PARADE, MUMBAI, MAHARASHTRA - 400005, INDIA |
B35149830 |
|
2 |
10289895 |
16/07/2013 * |
100,000,000.00 |
CITIBANK N. A. |
2ND FLOOR, NO.5, M. G. ROAD, BANGALORE, KARNATAKA - 560001, INDIA |
B80534449 |
|
3 |
10124041 |
02/07/2013 * |
200,200,000.00 |
STATE BANK OF INDIA |
SPECIALISED MID-CORPORATE BRANCH, # 136, RAILWAY PARALLEL ROAD, KUMARAPARK WEST, BANGALORE, KARNATAKA - 560020, INDIA |
B80244353 |
* Date of charge modification
FIXED ASSETS
· Land and Building
· Office building
· Plant and equipment
· Factory equipments
· Furniture and fixtures
· Computer equipments
· 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. 61.46 |
|
|
1 |
Rs. 98.99 |
|
Euro |
1 |
Rs. 84.72 |
INFORMATION DETAILS
|
Report Prepared
by : |
DPH |
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 |
6 |
|
--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 |
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 |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
46 |
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.