MIRA
INFORM REPORT
|
Report Date : |
07.08.2014 |
IDENTIFICATION DETAILS
|
Name : |
CARD TEC ( |
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Registered
Office : |
No.48, 3rd Cross, Vasanth Nagar, Bangalore – 560 052,
Karnataka |
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Country : |
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Financials (as
on) : |
31.03.2013 |
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Date of
Incorporation : |
06.05.1997 |
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Com. Reg. No.: |
08-022207 |
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Capital Investment
/ Paid-up Capital : |
Rs.3.000 millions |
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CIN No.: [Company Identification
No.] |
U31909KA1997PTC022207 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
BLRC01189G |
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PAN No.: [Permanent Account No.] |
AAACC835ON |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer and Exporter of ID Cards, Smart Cards, ATM Cards, Scratch
Cards etc. |
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No. of Employees
: |
40 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (27) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
USD 25000 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate track record. Sales turnover of the company has declined resulting into dip in sharp
profit of the company during financial year 2013. However, trade relations are fair. Business is active. Payments are
reported to be slow but correct. The company can be considered for business dealing 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 – June 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
India |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
NEWS
As per the latest IMF study, the total weigh of emerging markets in the
GDP of the world on a purchasing power parity basis has seen a sizeable shift.
It highlights how as against 51 % in 2005, the emerging economies now account
for close to 56 % of the global purchasing power GDP as per the latest survey.
And with the emerging economies growing at a faster rate than their developed
counterparts, there are every possibility that the share goes up further in the
coming years. China may surpass the US over the next few years.
Politics and economics are very intricately connected. They tend to
influence each other in ways that could be very complex and far-reaching. The
prospects of the India’s economy have been seriously compromised due to
political corruption. High inflation, poor standard of living are to a great
extent a result of rampant corruption in the country. China on the other hand,
seems to be facing diametrically opposite challenge. American hedge fund
manager Jim Chanos has been keenly following the political and economic
development in the dragon economy and has figured out something that is quite
worrying. He is of the view that the Chinese economy could be heading toward
trouble on account of new Chinese President Xi Jingping’s very aggressive
anti-corruption drive. Chanos believes that many things such as apartment
sales, luxury products, etc. were largely bought with dirty money. And it is
now beginning to impact consumption. This may indeed be bad news for an economy
that is struggling to transition from an investment-driven export-oriented
economy to a domestic consumption-driven economy.
A study published by Firstpost has revealed that asset classes like real
estate and equities were the biggest beneficiaries of the liberalization
policies. A firm called Ciane Analytics studied returns from assets
including equities, gold, fixed deposits, G-Secs and real estate since 1991.
Real estate outperformed every other asset classes during the 23-year period
with an annualized return of 20%! Equities came in second with annualized
return of 15.5%! However, while these returns may seem mouthwatering, the fact
is that the return from equities adjusted for inflation came down to just 7.1
%.
Some brief news are as under
. R-Power to buy Jaypee’s hydro assets
. Investors await justice in NSEL case
. India seeks MFN status from Pakistan ahead of meeting
. Ukrain’s clashes with rebels hinder MH17 crash investigation
. India exploring merger of state-owned hydro PSUs
..Higher costs weigh down profit growth to slowest in 9 quarters
..Wal-Mart to expand wholesale business in India
. GMR group moves to strengthen balance sheet
. Central Bank to sell 4 % stake to Life Insurance Corporation
. Tata Chemicals plans to raise up to Rs.10000 mn.
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
31-03-2014.
INFORMATION PARTED BY (GENERAL DETAILS)
|
Name : |
Mr. Prashant |
|
Designation : |
Admin Department |
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Contact No.: |
91-80-23521268 |
|
Date : |
01.08.2014 |
LOCATIONS
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Registered Office : |
No.48, 3rd Cross, Vasanth Nagar, Bangalore – 560 052,
Karnataka, India |
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Tel. No.: |
91-80-23521268 |
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Mobile No.: |
91-9341229002 (Mr. Manoj Kumar Agarwal) |
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Fax No.: |
91-80-23133809 |
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E-Mail : |
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Website : |
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Area : |
2000 sq. ft. |
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Location : |
Owned |
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Corporate Office/ Factory : |
No.38/5-11, 1st Main Road, Industrial Suburb, Yeswanthpur,
Bangalore – 560 022, Karnataka, India |
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Tel. No.: |
91-80-32991268/ 65364444 |
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Fax No.: |
91-80-23133809 |
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Branch Office 1 : |
J-10, ODS, Lajpat Nagar IV, New Delhi – 110 024, India |
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Branch Office 2 : |
Also Located at: ·
Mumbai |
DIRECTORS
AS ON 30.09.2013
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Name : |
Ms. Nisha Agarwal |
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Designation : |
Director |
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Address : |
No.48, 3rd Cross, Vasanth Nagar, Bangalore – 560 052,
Karnataka, India |
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Date of Birth/Age : |
14.02.1986 |
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Qualification : |
B. Com |
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Date of Appointment : |
27.03.2007 |
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DIN No.: |
01416410 |
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Other Directorship :
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Name : |
Mr. Manoj Kumar Agarwal |
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Designation : |
Director |
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Address : |
No.48, 3rd Cross Vesath Nagar, Bangalore – 560 052,
Karnataka, India |
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Date of Birth/Age : |
09.09.1968 |
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Qualification : |
B. Sc., MBA, LLB |
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Date of Appointment : |
06.05.1997 |
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DIN No.: |
01016719 |
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Other Directorship :
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MAJOR SHAREHOLDERS
AS ON 30.09.2013
|
Names of Shareholders |
|
No. of Shares |
|
Abharani Vinimay Private Limited, |
|
50000 |
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Agarwal Traders Private Limited, India |
|
30000 |
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Kamladevi Agarwal |
|
9500 |
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Konark Commercial Limited, |
|
12000 |
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Manoj Kumar Agarwal |
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37200 |
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Metro Commercial Company Limited, |
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20000 |
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Nisha Agarwal |
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8000 |
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Premier Fintrade Private Limited, |
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10000 |
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Select Traders Private Limited, |
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20000 |
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Southern Business Private Limited, |
|
20000 |
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Sulabh Vyapar Private Limited, |
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30000 |
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Sunita Agarwal |
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13000 |
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Sushil Kumar Agarwal |
|
40800 |
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Vinita Agarwal |
|
9500 |
AS ON 30.09.2013
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
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Directors
or relatives of directors |
|
100.00 |
%20PRIVATE%20LIMITED%20-%20279014%2007-Aug-2014_files/image002.gif)
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of ID Cards, Smart Cards, ATM Cards, Scratch
Cards etc. |
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Products : |
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Exports : |
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Products : |
ID Cards |
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Countries : |
·
·
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Imports : |
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Products : |
Raw Materials |
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Countries : |
·
·
·
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Terms : |
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Selling : |
Cash and Credit |
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Purchasing : |
Cash and Credit |
GENERAL INFORMATION
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Customers : |
End Users ·
Rosco Smart Card |
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No. of Employees : |
40 (Approximately) |
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Bankers : |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Manoj Kumar Chartered Accountant |
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Address : |
# 155, 3rd Floor, Shreyanz Plaza, Nagarthpet, Bangalore –
560 002, Karnataka, India |
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Tel. No.: |
91-80-32967272 |
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Fax No.: |
91-80-22297272 |
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E-Mail : |
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PAN No.: |
ADKPK5424H |
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Sister Concern (As confirmed by the Management) : |
Cardz Smart |
CAPITAL STRUCTURE
AS ON 30.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
300000 |
Equity Shares |
Rs.10/- each |
Rs.3.000 millions |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
300000 |
Equity Shares |
Rs.10/- each |
Rs.3.000 millions |
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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 |
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(1) Shareholders' Funds |
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(a) Share Capital |
3.000 |
3.000 |
3.000 |
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(b) Reserves & Surplus |
3.309 |
3.200 |
2.307 |
|
(c) Money received against share warrants |
0.000 |
0.000 |
0.000 |
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(2) Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
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Total
Shareholders’ Funds (1) + (2) |
6.309 |
6.200 |
5.307 |
|
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(3) Non-Current
Liabilities |
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|
|
|
(a) Long-term borrowings |
13.563 |
17.500 |
4.169 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.092 |
|
(c) Other long
term liabilities |
7.317 |
5.188 |
12.417 |
|
(d) Long-term
provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
20.880 |
22.688 |
16.678 |
|
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(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
2.590 |
0.922 |
4.860 |
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(b)
Trade payables |
0.188 |
0.319 |
0.261 |
|
(c) Other
current liabilities |
0.091 |
0.045 |
0.103 |
|
(d) Short-term
provisions |
0.260 |
(0.033) |
0.301 |
|
Total Current
Liabilities (4) |
3.129 |
1.253 |
5.525 |
|
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|
|
|
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TOTAL |
30.318 |
30.141 |
27.510 |
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II.
ASSETS |
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|
|
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(1) Non-current assets |
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|
|
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(a) Fixed Assets |
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|
|
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(i)
Tangible assets |
12.320 |
14.246 |
10.285 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
(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) |
0.336 |
0.378 |
0.000 |
|
(d) Long-term Loan and Advances |
0.450 |
0.518 |
0.118 |
|
(e) Other Non-current
assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
13.106 |
15.142 |
10.403 |
|
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|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
13.008 |
11.639 |
8.774 |
|
(c)
Trade receivables |
0.778 |
0.053 |
7.329 |
|
(d) Cash
and cash equivalents |
0.011 |
2.151 |
0.093 |
|
(e)
Short-term loans and advances |
0.000 |
0.036 |
0.084 |
|
(f)
Other current assets |
3.415 |
1.120 |
0.827 |
|
Total
Current Assets |
17.212 |
14.999 |
17.107 |
|
|
|
|
|
|
TOTAL |
30.318 |
30.141 |
27.510 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from operations |
23.996 |
34.078 |
31.015 |
|
|
|
Other Income |
NA |
2.180 |
0.000 |
|
|
|
TOTAL (A) |
NA |
36.258 |
31.015 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of material consumed |
NA |
28.015 |
23.406 |
|
|
|
Changes in inventories of finished goods, work-in-progress and
stock-in-trade |
NA |
(2.864) |
(2.786) |
|
|
|
Employee benefit expense |
NA |
2.696 |
1.945 |
|
|
|
Other expenses |
NA |
3.814 |
3.803 |
|
|
|
TOTAL (B) |
NA |
31.661 |
26.368 |
|
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
NA |
4.597 |
4.647 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
NA |
2.148 |
2.347 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
NA |
2.449 |
2.300 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
2.429 |
2.016 |
1.808 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX (E-F) (G) |
0.109 |
0.433 |
0.492 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
NA |
(0.461) |
0.105 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX (G-I) (I) |
NA |
0.894 |
0.387 |
|
|
|
|
|
|
|
|
|
|
Earnings/ (Loss)
Per Share (Rs.) |
NA |
2.98 |
1.29 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
NA |
2.47 |
1.25 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
0.45 |
1.27 |
1.59 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.36 |
1.45 |
1.79 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.02 |
0.07 |
0.09 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
2.56 |
2.97 |
1.70 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
5.50 |
11.97 |
3.10 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(INR in Mlns.) |
(INR in Mlns.) |
(INR in Mlns.) |
|
Share Capital |
3.000 |
3.000 |
3.000 |
|
Reserves & Surplus |
2.307 |
3.200 |
3.309 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net worth |
5.307 |
6.200 |
6.309 |
|
|
|
|
|
|
Long-term borrowings |
4.169 |
17.500 |
13.563 |
|
Short term borrowings |
4.860 |
0.922 |
2.590 |
|
Total borrowings |
9.029 |
18.422 |
16.153 |
|
Debt/Equity ratio |
1.701 |
2.971 |
2.560 |
%20PRIVATE%20LIMITED%20-%20279014%2007-Aug-2014_files/image004.gif)
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(INR in Mlns) |
(INR in Mlns) |
(INR in Mlns) |
|
Revenue from operations |
31.015 |
34.078 |
23.996 |
|
|
|
9.876 |
(29.585) |
%20PRIVATE%20LIMITED%20-%20279014%2007-Aug-2014_files/image006.gif)
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(INR in Mlns) |
(INR in Mlns) |
(INR in Mlns) |
|
Revenue from operations |
31.015 |
34.078 |
23.996 |
|
Profit Before Tax |
0.492 |
0.433 |
0.109 |
|
|
1.59% |
1.27% |
0.45% |
%20PRIVATE%20LIMITED%20-%20279014%2007-Aug-2014_files/image008.gif)
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 |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
Yes |
|
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 |
Yes |
|
30] |
Major Shareholders, if available |
Yes |
|
31] |
PAN of Proprietor/Partner/Director, if available |
No |
|
32] |
Date
of Birth of Proprietor/Partner/Director, if available |
Yes |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
No |
INDEX OF CHARGES:
|
S. No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number
(SRN) |
|
1 |
90200960 |
27/02/2012 * |
12,000,000.00 |
CANARA BANK |
NO.91, INFANTRY ROAD,
BANGALORE, KARNATAKA - 560001, INDIA |
B37641644 |
* Date of charge modification
FIXED ASSETS:
·
Plant and Machinery
·
Computers and Peripherals
·
Furniture and Fixture
·
Office Equipment
·
Electrical Assets
·
Vehicles
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.61.34 |
|
|
1 |
Rs.103.44 |
|
Euro |
1 |
Rs.81.96 |
INFORMATION DETAILS
|
Information
Gathered by : |
PDT |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
SMN |
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 |
3 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
27 |
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.