MIRA INFORM REPORT
|
Report Date : |
10.04.2014 |
IDENTIFICATION DETAILS
|
Name : |
HEXATEC INSTRUMENTS PRIVATE LIMITED |
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Registered
Office : |
D – 203, Panchwati Dham, Shiv – |
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Country : |
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Financials (as
on) : |
31.03.2011 |
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Date of
Incorporation : |
04.08.2003 |
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Com. Reg. No.: |
11-141577 |
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Capital Investment
/ Paid-up Capital : |
Rs.0.100 Million |
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CIN No.: [Company Identification
No.] |
U33125MH2003PTC141577 |
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IEC No.: |
0305081179 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
MUMH10516C |
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PAN No.: [Permanent Account No.] |
AABCH4561M |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer and Exporter of Scientific / Laboratory Instruments and Equipment |
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No. of Employees
: |
15 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca (15) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Moderate |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having a moderate track record. Management of the company has not filed its financial after the year
2011 with the government department Mr. Rajesh Jadhav provided with us all information. However, financial
are not verified. As per 2011 financials the company seems to be relatively small
company in its field. The company can be considered for business dealings on a secured 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 – December 1, 2013
|
Country Name |
Previous Rating (30.09.2013) |
Current Rating (01.12.2013) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
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High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
India’s current account deficit for the fiscal third quarter ended
September 2013 narrowed to $4.2 billion or 0.9 % of the gross domestic product
from $31.9 billion or 6.5 % of GDP a year earlier, thanks to a pick-up in
exports and moderation in gold imports. Manufacturing activity and new orders
in India showed their strongest growth in a year in February. The news comes as
a relief after data showed Asia’s third largest economy grew by a
slower-than-expected 4.7 % annually in the three months through December. The
HSBC Manufacturing Purchasing Managers’ Index which gauges the business
activity of India’s factories but not its’ utilities, rose to 52.5 in February,
its highest in a year from 51.4 in January. Overall new orders for factory
goods which rose to a one-year high of 54.9 contributed to the surge. China has
emerged as India’s biggest trading partner in the current financial year
replacing the United Arab Emirates and pushing it to the third spot.
India-China trade has reached $49.5 billion with a 8.7 % share in India’s total
trade. The US comes second at $46 billion with 8.1 % share during the first
nine months of the current financial year.
The Reserve Bank of India has granted an additional nine months to the
public to exchange currency notes printed before 2005 including Rs 500 and Rs
1,000 denominations, pushing the deadline to January 1, 2015. A day before
dates for the Lok Sabha polls were announced, the government decided to hike
interest rates on fixed deposit schemes offered by post offices up to 0.2 per
cent. The new rates will be effective April, 1. The Supreme Court will resume
hearing on March, 11 Nokia’s appeal against a ruling over transferring
ownership of its local mobile phones plant which is the subject of a tax
dispute to Microsoft Corp.
In the last days of the current Government, another scam has surfaced.
The defence ministry has ordered a probe into Hindustan Aeronautics Limited’s
contracts from Britain’s Rolls-Royce Holdings worth at least $ 1.2 billion. The
Central Bureau of Investigation will look into allegations that over $80
million was paid in kickbacks in a deal signed in 2011. India has asked Boeing
Co. to find a solution for problems with state-owned Air India’s 787
Dreamliners. The aircraft has experienced a series of malfunctions since its
debut in 2011.
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 PARTED BY
|
Name : |
Mr. Rajesh Eknath Jadhav |
|
Designation : |
Director |
|
Contact No.: |
91-9870497507 |
|
Date : |
04.04.2014 |
LOCATIONS
|
Registered Office / Head Office / Administrative Office : |
D – 203, Panchwati Dham, Shiv – |
|
Tel. No.: |
91-250-2023085 / 2023086 |
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Mobile No.: |
91-9870497507 (Mr. Rajesh Eknath Jadhav) |
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Fax No.: |
91-22-26420084 |
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E-Mail : |
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Website : |
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Area : |
2500 sq ft |
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Location : |
Rented |
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Factory : |
Gala No. 7/18, Sutirth Building, Sagar-Signature Complex Opposite I-Pol, Valiv Phata Road, Vasai (East), District Thane - 401 208, Maharashtra, India |
DIRECTORS
As on 31.09.2011
|
Name : |
Mr. Rajesh Eknath Jadhav |
|
Designation : |
Director |
|
Address : |
23, Geetanjali, Bandra Reclamation, Bandra (West), Mumbai- 400050, |
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Date of Birth/Age : |
25.07.1966 |
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Qualification : |
Mechanical Engineering and Management Marketing |
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Date of Appointment : |
04.08.2003 |
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DIN No.: |
01150154 |
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|
|
|
Name : |
Mr. Sandeep S. Nagle |
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Designation : |
Director |
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Address : |
D – 203, Panchavati Dham, Near Sai Bans Mandir, Shiv Vallabh Road,
Ashok Van, Dahisar (East), Mumbai – 400068, Maharashtra, India |
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Date of Birth/Age : |
04.10.1967 |
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Qualification : |
Electronic Engineering |
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Date of Appointment : |
04.08.2003 |
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DIN No.: |
01159225 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 31.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
Sandeep S. Nagle |
|
5000 |
|
Rajesh Eknath Jadhav |
|
5000 |
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Total |
|
10000 |
As on 31.09.2011
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Exporter of Scientific / Laboratory
Instruments and Equipment |
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Products : |
·
Autoclave
Vertical ·
Digital
Oil ·
Tray
Dryer ·
Autoclave
Vertical Fully Automatic ·
Cryostat
·
Vacuum
Oven - Round ·
Bacteriological
Incubator ·
Deep
Freezer - Vertical ·
Vacuum
Oven - Rectangular ·
Bacteriological
Incubator - Memmert Type ·
Deep
Freezer - Horizontal ·
Rotary
Shaker ·
B.O.D.
Incubator Floculator ·
Orbital
Shaking Incubators - Without Refrigeration ·
Cooling
Incubator Muffle Furnace ·
Orbital
Shaking Incubators - With Refrigeration ·
Stability
Chamber Laboratory Oven ·
Waterbath
Incubator Shaker ·
Waterbath
Rectangular ·
Hot
Air Oven - Memmert Type ·
Laminar
Air Flow - Vertical ·
Constant
Temperature ·
High Temperature
Oven ·
Laminar
Air Flow - Horizontal |
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Exports : |
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Products : |
Finished Goods |
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Countries : |
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Terms : |
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Selling : |
Cheque |
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Purchasing : |
Cheque |
GENERAL INFORMATION
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Customers : |
End Users |
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No. of Employees : |
15 (Approximately) |
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Bankers : |
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Facilities : |
(Rs.
In Millions)
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Banking
Relations : |
--- |
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Auditors : |
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Name 1 : |
R. K Sarang and Company Chartered Accountants |
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Address : |
001, Om Ghanshyam Cooperative Housing Society, Ambika Nagar,
Gograsswadi, Dombivli (East), Mumbai – 421201, Maharashtra, India |
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PAN.: |
AYUPS7228L |
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Name 2 : |
N.B. Khatu and Company Chartered Accountants |
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Address : |
Building No.12m Room No.23, |
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PAN.: |
ASMPK5914C |
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Name 3 : |
Kothari and Jain Associates Chartered Accountants |
CAPITAL STRUCTURE
As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
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|
100000 |
Equity Shares |
Rs.10/- each |
Rs,1.000 Million |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
10000 |
Equity Shares |
Rs.10/- each |
Rs.0.100
Million |
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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 |
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|
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1] Share Capital |
0.100 |
0.100 |
0.100 |
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|
2] Share Application Money |
0.840 |
0.840 |
0.000 |
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|
3] Reserves & Surplus |
0.009 |
0.000 |
0.112 |
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|
4] (Accumulated Losses) |
0.000 |
(0.001) |
0.000 |
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NETWORTH |
0.949 |
0.939 |
0.212 |
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LOAN FUNDS |
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1] Secured Loans |
0.330 |
0.447 |
0.543 |
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2] Unsecured Loans |
0.332 |
0.262 |
1.104 |
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TOTAL BORROWING |
0.662 |
0.709 |
1.647 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
1.611 |
1.648 |
1.859 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
0.843 |
0.747 |
0.981 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.009 |
0.009 |
0.000 |
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|
DEFERREX TAX ASSETS |
0.074 |
0.034 |
0.010 |
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
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|
Inventories |
2.469
|
1.446 |
0.747 |
|
|
Sundry Debtors |
0.572
|
0.775 |
1.269 |
|
|
Cash & Bank Balances |
(0.227)
|
0.120 |
0.027 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
0.641
|
0.585 |
0.577 |
|
Total
Current Assets |
3.403
|
2.926 |
2.620 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
1.642
|
1.175 |
1.130 |
|
|
Other Current Liabilities |
0.827
|
0.699 |
0.447 |
|
|
Provisions |
0.257
|
0.207 |
0.192 |
|
Total
Current Liabilities |
2.726
|
2.081 |
1.769 |
|
|
Net Current Assets |
0.677
|
0.845 |
0.851 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.008 |
0.013 |
0.017 |
|
|
|
|
|
|
|
|
TOTAL |
1.611 |
1.648 |
1.859 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
6.041 |
3.585 |
5.042 |
|
|
|
Other Income |
0.001 |
0.202 |
0.000 |
|
|
|
TOTAL |
6.042 |
3.787 |
5.042 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Operating and General Expenses |
5.831 |
3.675 |
4.777 |
|
|
|
TOTAL |
5.831 |
3.675 |
4.777 |
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
0.212 |
0.112 |
0.265 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
0.192 |
0.235 |
0.247 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX |
0.020 |
(0.123) |
0.018 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
0.011 |
(0.011) |
0.045 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX |
0.009 |
(0.112) |
(0.027) |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
0.90 |
NA |
NA |
|
|
Particulars |
|
31.03.2013 |
31.03.2012 |
|
Sales Turnover (Approximately) |
|
7.500 |
7.000 |
|
|
|
|
|
The above information has been parted by Mr. Rajesh Eknath Jadhav
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
0.15
|
(3.12) |
(0.54) |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
0.33
|
(3.43) |
0.36 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.47
|
(3.25) |
0.50 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.02
|
(0.13) |
0.08 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.70
|
0.76 |
7.77 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.25
|
1.41 |
1.48 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2009 |
31.03.2010 |
31.03.2011 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Share Capital |
0.100 |
0.100 |
0.100 |
|
Reserves & Surplus |
0.112 |
-0.001 |
0.009 |
|
Share Application money
pending allotment |
0.000 |
0.840 |
0.840 |
|
Net
worth |
0.212 |
0.939 |
0.949 |
|
|
|
|
|
|
Secured Loans |
0.543 |
0.447 |
0.330 |
|
Unsecured Loans |
1.104 |
0.262 |
0.332 |
|
Total
borrowings |
1.647 |
0.709 |
0.662 |
|
Debt/Equity
ratio |
7.769 |
0.755 |
0.698 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2009 |
31.03.2010 |
31.03.2011 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
5.042 |
3.585 |
6.041 |
|
|
|
-28.897 |
68.508 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2009 |
31.03.2010 |
31.03.2011 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
5.042 |
3.585 |
6.041 |
|
Profit / (Loss) |
(0.027) |
(0.112) |
0.009 |
|
|
(0.54%) |
(3.12%) |
0.15% |
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 |
Yes |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
Yes |
|
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 |
Yes |
|
20] |
Export / Import details (if applicable) |
Yes |
|
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 |
Note:
The registered office of the company has been shifted from V – 15/ 002,
Shiveri, Shiv –
UNSECURED LOAN
Rs.
In Millions
|
Particular |
As
on 31.03.2011 |
As
on 31.03.2010 |
|
Unsecured Loan |
0.332 |
0.262 |
|
Total |
0.332 |
0.262 |
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request Number
(SRN) |
|
1 |
10351733 |
05/03/2012 |
1,000,000.00 |
BANK OF BARODA |
MAHIM BRANCH, 80, L. J. ROAD, OPPOSITE ICICI BANK, MAHIM (WEST), MUMBAI, MAHARASHTRA - 400016, INDIA |
B38224135 |
* Date of charge modification
FIXED ASSETS:
- Air
Conditioner
- Computer
- Canon Fax
Machine
- Furniture and
Fixtures
- Tools and
Machinery
- Motor Car
WEBSITE DETAILS:
PROFILE:
Subject is an Indian based professional manufacturer and exporter of Scientific / Laboratory Instruments and Equipments and owned by qualified engineers. The company was established with the aim to cater to the needs of many industries providing them its vast range of precise technical instruments for R and D and Quality Control in production.
Subject undertakes designing and manufacturing of a wide range of Scientific / Laboratory Instruments and Equipments, which is accepted in Indian and International market. Each Instrument is developed and manufactured in accordance with the relative National and International Standards. There ability to make hi–tech instruments in quick time has given then the upper edge over there competitors.
Today, more than 10 years after its founding, subject is committed to delivering technologies, products and services that customers and partners can build on and grow with. Through constant innovation, subject is pushing the boundaries of Research universe it helped create.
Commencing operations back in the 1990’s with just a small range, there constant process of product and market development has witnessed continual interest and growth. They now cater directly to a complete array of needs for every imaginable Laboratory / Industry from Agriculture to Education, Industrial to Environmental, Life Sciences to Pharmaceutical and Biotechnology to Medical. There heavy R and D focus and obligation to advancement is expanding There opportunities both in the local and International market.
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.60.07 |
|
|
1 |
Rs.100.56 |
|
Euro |
1 |
Rs.82.79 |
INFORMATION DETAILS
|
Information
Gathered by : |
PLK |
|
|
|
|
Report Prepared
by : |
NTH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
2 |
|
PAID-UP CAPITAL |
1~10 |
2 |
|
OPERATING SCALE |
1~10 |
2 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
2 |
|
--PROFITABILIRY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
2 |
|
--LEVERAGE |
1~10 |
2 |
|
--RESERVES |
1~10 |
-- |
|
--CREDIT LINES |
1~10 |
-- |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
15 |
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.