MIRA
INFORM REPORT
|
Report Date : |
10.09.2013 |
IDENTIFICATION DETAILS
|
Name : |
SURI AGRO FRESH PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
C – 129, New Subzi Mandi, Azadpur, Delhi - 110033 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
21.02.2006 |
|
|
|
|
Com. Reg. No.: |
55-146629 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 37.517 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U15133DL2006PTC146629 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
DELS29803E |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAJCS7908M |
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|
|
|
Legal Form : |
Private Limited Liability Company |
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|
|
|
Line of Business
: |
Dealer of Fresh Fruits. |
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|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (33) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 324000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
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|
|
|
Comments : |
Subject is an established company having a moderate track record.
There appears loss incurred during 2012 recorded by the company. External
borrowing seems to be huge. However, trade relations are reported to be fair. Business is active.
Payments are reported to be slow but correct. The company can be considered for business dealings with some 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
We are living in a world
where volatility and uncertainty have become the New Normal. We saw a
change of government in countries like
There is another
megatrend happening. The World order is changing as economic power shifts from
West to East. According to McKinsey study, it took
The years after the
outbreak of the global financial crisis, the world economy continues to remain
fragile. The Indian economy demonstrated remarkable resilience in the initial
years of the contagion but finally lost ground last year. GDP growth slowed
down. Currency has been weakening. There is a marked deceleration in
agriculture, industry and services. Dampening sentiment led to a cut-back in
investment as well as private consumption expenditure. Inflation remained
at high levels fuelled by the pressure from the food and fuel sectors. The
large fiscal and current account deficit s continued to cause grave concern. It
is imperative that
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 : |
C – 129, New Subzi Mandi, Azadpur, Delhi – 110033, India |
|
Tel. No.: |
91-11-27675562/27233445/27453562/27453563/27436704 |
|
Fax No.: |
91-11-27436704 |
|
E-Mail : |
DIRECTORS
As on 29.09.2012
|
Name : |
Mr. Sudhir Suri |
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|
Designation : |
Managing Director |
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Address : |
20/78, Shakti Nagar, New Delhi - 110007, India |
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Date of Birth/Age : |
03.01.1964 |
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Date of Appointment : |
08.06.2010 |
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DIN No.: |
00070024 |
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Other Directorship:
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Name : |
Mr. Hitin Suri |
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Designation : |
Director |
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|
Address : |
20/78, Shakti Nagar, New Delhi - 110007, India |
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Date of Birth/Age : |
03.01.1969 |
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Date of Appointment : |
08.06.2010 |
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DIN No.: |
00070062 |
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Other Directorship:
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|
Name : |
Mr. Eugene Joseph Caulfield
|
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Designation : |
Director |
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|
Address : |
Knockbridge, Dublin, Dundalk Colouth, Ireland |
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Date of Birth/Age : |
27.02.1948 |
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Date of Appointment : |
29.04.2006 |
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DIN No.: |
00229892 |
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Other Directorship:
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|
Name : |
Mr. Syed Mahtabul Bashar |
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Designation : |
Director |
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|
Address : |
Knockbridge, Dublin, Dundalk Colouth, Ireland |
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Date of Birth/Age : |
12.02.1982 |
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Date of Appointment : |
29.09.2012 |
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DIN No.: |
01622096 |
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Other Directorship:
|
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MAJOR SHAREHOLDERS
As on 29.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
Sudhir Suri |
|
9379250 |
|
Hitin Suri |
|
9379250 |
|
Total Produce Ireland Limited, Ireland |
|
18758500 |
|
Total |
|
37517000 |
As on 31.01.2013
|
Names of Allottes |
|
No. of Shares |
|
Total Produce Ireland Limited, Ireland |
|
5000000 |
|
Sudhir Suri |
|
2500000 |
|
Hitin Suri |
|
2500000 |
|
Total |
|
10000000 |
As on 10.10.2012
|
Names of Allottes |
|
No. of Shares |
|
Total Produce Ireland Limited, Ireland |
|
2500000 |
|
Sudhir Suri |
|
1250000 |
|
Hitin Suri |
|
1250000 |
|
Total |
|
5000000 |
Equity Share Break up (Percentage of Total Equity)
As on 29.09.2012
|
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 |
50.00 |
|
Directors or relatives of Directors |
50.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Dealer of Fresh Fruits. |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
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|
|
||||||||||||||||||
|
Bankers : |
·
Jammu and Kashmir Bank Limited, Subzi Mandi,
Azadpur, Delhi – 110033, India ·
ING Vysya Bank Limited, Plot No. 11 B, Block-A-1,
Model Town, Delhi – 110009, India ·
Punjab National Bank, 7, Bhikaji Cama Place, Delhi
– 110066, India ·
Axis Bank |
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|
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Facilities : |
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|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
KBG Associates Chartered Accountants |
|
Address : |
D-583, Chittarajan Park, New Delhi-110019, India |
|
PAN No.: |
AAEFA3998H |
|
|
|
|
Fellow
Subsidiary Company : |
·
Total Produce Ireland Limited ·
R.G.A Fresh Fruits Private Limited ·
M.S Fresh Fruits Private Limited ·
RG Enterprises ·
LM Agro Fresh Private Limited |
|
|
|
|
Associates/Joint Ventures: |
·
M.S Fresh Fruits Private Limited ·
BHS Vegi Fresh Private Limited ·
R.K Fresh Fruits Private Limited ·
SFA Agro Fresh Private Limited (Bangladesh) |
|
|
|
|
Others: |
·
Sanwalee Cold Storage and Food Industries Private
Limited ·
Green Valley Fruits and Vegetables Private
Limited |
CAPITAL STRUCTURE
After 29.09.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
60000000 |
Equity Shares |
R. 1/- each |
Rs. 60.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
52517000 |
Equity Shares |
R. 1/- each |
Rs. 52.517 Millions |
As on 29.09.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
60000000 |
Equity Shares |
R. 1/- each |
Rs. 60.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
37517000 |
Equity Shares |
R. 1/- each |
Rs. 37.517 Millions |
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 |
|
37.517 |
31.400 |
|
(b) Reserves & Surplus |
|
43.470 |
42.089 |
|
(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) |
|
80.987 |
73.489 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
42.000 |
63.000 |
|
(b) Deferred tax liabilities (Net) |
|
1.436 |
0.000 |
|
(c) Other long term liabilities |
|
0.000 |
0.000 |
|
(d) long-term provisions |
|
0.789 |
0.237 |
|
Total Non-current Liabilities (3) |
|
44.225 |
63.237 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
|
191.498 |
132.725 |
|
(b) Trade payables |
|
116.135 |
124.258 |
|
(c) Other current
liabilities |
|
17.968 |
19.035 |
|
(d) Short-term provisions |
|
2.047 |
2.000 |
|
Total Current Liabilities (4) |
|
327.648 |
278.018 |
|
|
|
|
|
|
TOTAL |
|
452.860 |
414.744 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
163.409 |
154.902 |
|
(ii) Intangible Assets |
|
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
|
0.000 |
0.000 |
|
(iv) Intangible
assets under development |
|
0.000 |
8.279 |
|
(b) Non-current Investments |
|
4.154 |
5.229 |
|
(c) Deferred tax assets (net) |
|
0.000 |
1.264 |
|
(d) Long-term Loan and Advances |
|
5.938 |
5.441 |
|
(e) Other Non-current assets |
|
0.000 |
0.000 |
|
Total Non-Current Assets |
|
173.501 |
175.115 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
0.000 |
0.000 |
|
(b) Inventories |
|
54.948 |
33.023 |
|
(c) Trade receivables |
|
206.661 |
196.923 |
|
(d) Cash and cash
equivalents |
|
9.719 |
36.988 |
|
(e) Short-term loans and
advances |
|
8.031 |
5.695 |
|
(f) Other current assets |
|
0.000 |
0.000 |
|
Total Current Assets |
|
279.359 |
272.629 |
|
|
|
|
|
|
TOTAL |
|
452.860 |
447.744 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
31.400 |
|
|
2] Share Premium |
|
|
23.600 |
|
|
3] Reserves & Surplus |
|
|
12.659 |
|
|
4] Government Subsidy for Rai Project |
|
|
58.618 |
|
|
NETWORTH |
|
|
126.277 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
142.243 |
|
|
2] Unsecured Loans |
|
|
0.000 |
|
|
TOTAL BORROWING |
|
|
142.243 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
268.520 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
6.324 |
|
|
Capital work-in-progress |
|
|
168.315 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
5.113 |
|
|
DEFERRED TAX ASSETS |
|
|
0.060 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
25.951 |
|
|
Sundry Debtors |
|
|
100.953 |
|
|
Cash & Bank Balances |
|
|
16.546 |
|
|
Other Current Assets |
|
|
0.000 |
|
|
Loans & Advances |
|
|
13.348 |
|
Total
Current Assets |
|
|
156.798 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
26.773 |
|
|
Other Current Liabilities |
|
|
39.851 |
|
|
Provisions |
|
|
1.700 |
|
Total
Current Liabilities |
|
|
68.324 |
|
|
Net Current Assets |
|
|
88.474 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.234 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
268.520 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
|
|
|
|
|
|
|
|
Income |
|
|
|
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL |
1178.183 |
855.616 |
558.869 |
|
|
|
|
|
|
|
|
Less |
|
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
1192.693 |
845.482 |
44.513 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
(Including
Financial and Depreciation Expenses) |
(Including
Financial and Depreciation Expenses |
14.356 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
|
|
7.211 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
|
|
7.145 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
|
|
1.092 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX |
(14.510) |
10.134 |
6.053 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
(2.460) |
4.304 |
1.700 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS) AFTER TAX (G-H) |
(16.970) |
5.830 |
4.353 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
(0.48) |
0.19 |
NA |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
(1.44)
|
0.68 |
0.77 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(3.28)
|
2.37 |
3.71 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.18) |
0.14 |
0.05 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
2.88
|
2.66 |
1.13 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.85
|
0.98 |
2.29 |
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 |
No |
|
33] |
Voter ID No of Proprietor/Partner/Director,
if available |
No |
|
34] |
External Agency Rating,
if available |
No |
UNSECURED LOANS:
|
Particulars |
31.03.2012 Rs. In Millions |
31.03.2011 Rs. In Millions |
|
Short Term Borrowings |
|
|
|
Intercorporate
Borrowings |
1.000 |
3.500 |
|
Loans taken for
fixed assets |
1.639 |
1.526 |
|
Total |
2.639 |
5.026 |
INDEX OF CHARGE:
|
Sr .No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10441089
|
19/07/2013
|
6,825,000.00
|
JAMMU
AND KASHMIR BANK LIMITED |
SUBZI MANDI AZADPUR, DELHI,
Delhi - 110033, INDIA |
B81141897
|
|
2 |
10360730
|
04/06/2012
|
105,000,000.00
|
The
Jammu and Kashmir Bank Limited |
SUBZI MANDI, AZADPUR, DELHI,
Delhi - 110033, INDIA |
B41665381
|
|
3 |
10328795
|
22/11/2011
|
64,400,000.00
|
ING
VYSYA BANK LIMITED |
Plot No. 11B, Block-A-1, Model
Town, DELHI, Delhi |
B29617602
|
|
4 |
10028793
|
19/08/2009
* |
45,000,000.00
|
THE
JAMMU AND KASHMIR BANK LIMITED |
SABZI MANDI, AZADPUR, NEW
DELHI, Delhi - 110033, |
A69548410
|
* Date of charge modification
FIXED ASSETS:
·
Land
·
Building
·
Plant and equipment
·
Factory Equipments
·
Vehicles
·
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 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. 65.96 |
|
|
1 |
Rs. 102.91 |
|
Euro |
1 |
Rs. 86.58 |
INFORMATION DETAILS
|
Report Prepared
by : |
VNT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
4 |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
33 |
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.