MIRA INFORM REPORT
|
Report Date : |
12.12.2014 |
IDENTIFICATION DETAILS
|
Name : |
DEEKAY PINE BOARD PRIVATE LIMITED |
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Registered
Office : |
Survey No. 338, Bhachau – |
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Country : |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
07.03.2002 |
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Com. Reg. No.: |
04-040528 |
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Capital
Investment / Paid-up Capital : |
Rs. 17.115 Millions |
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CIN No.: [Company Identification
No.] |
U20219GJ2002PTC040528 |
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IEC No.: |
Not Available |
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TAN No.: [Tax Deduction &
Collection Account No.] |
RKTD00901F |
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PAN No.: [Permanent Account No.] |
AABCD4974G |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer of Plywood, Ply board and Veneer. |
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No. of Employees
: |
Permanent – 50 and Contract basis – 200 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (30) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
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. The rating constrained by modest scale of operations concerned by a
drastic dip In its net profit, in a highly fragmented nature of industry
further marked by thin profit margins and modest liquidity position. However, trade relations seem to be fair. Business is active. Payment
terms are 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.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
Long Term bank Facilities=BB- |
|
Rating Explanation |
Moderate risk of default and high credit
risk. |
|
Date |
07.10.2013 |
|
Rating Agency Name |
CARE |
|
Rating |
Short term Bank Facilities=A4 |
|
Rating Explanation |
Minimal degree of safety and very high
credit risk. |
|
Date |
07.10.2013 |
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
|
Name : |
Mr. Raju Deka |
|
Designation : |
Manager |
|
Contact No.: |
91-9374954076 |
|
Date : |
09.12.2014 |
LOCATIONS
|
Registered Office / Factory : |
Survey No. 338, Bhachau – |
|
Tel. No.: |
91-2836-324015 |
|
Mobile No.: |
91-9374954076 (Mr. Raju Deka) |
|
Fax No.: |
91-2836-286319 |
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E-Mail : |
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|
Area : |
17600 Sq. Ft. |
|
Location : |
Owned |
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Factory : |
NHW 8A, Padana, Gandhidham – 370 240, |
DIRECTORS
AS ON 30.09.2014
|
Name : |
Mrs. Ashwini Kedia |
|
Designation : |
Director |
|
Address : |
C/O. Deekay Impex, Plot No. 74, Ward 10A, Opp. IFFCO Colony,
Gandhidham – 370001, Gujarat, India |
|
Date of Birth/Age : |
22.04.1981 |
|
Date of Appointment : |
14.12.2002 |
|
DIN No.: |
01161460 |
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|
Name : |
Mr. Dilip Shankarlal Kedia |
|
Designation : |
Director |
|
Address : |
C/O. Deekay Impex, Plot No. 74, Ward 10A, Opp. IFFCO Colony, Gandhidham
– 370201, Gujarat, India |
|
Date of Birth/Age : |
23.05.1965 |
|
Date of Appointment : |
07.03.2002 |
|
DIN No.: |
01842090 |
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|
Name : |
Mr. Vijay Kumar Kedia |
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Designation : |
Director |
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Address : |
67/25, |
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Date of Birth/Age : |
17.03.1951 |
|
Date of Appointment : |
07.03.2002 |
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DIN No.: |
01880182 |
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|
|
Name : |
Mrs. Manjulika Kedia |
|
Designation : |
Director |
|
Address : |
FE-321, |
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Date of Birth/Age : |
28.02.1962 |
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Date of Appointment : |
07.03.2002 |
|
DIN No.: |
02120107 |
KEY EXECUTIVES
|
Name : |
Mr. Raju Deka |
|
Designation : |
Manager |
MAJOR SHAREHOLDERS
As on 30.09.2014
|
Names of Shareholders |
No. of Shares |
Percentage of
Holding |
|
Dilip S Kedia |
1054500 |
61.61 |
|
SLK Progressive Veneer Private Limited, |
342000 |
19.98 |
|
Manjulika Kedia |
111000 |
6.49 |
|
Vijay Kedia |
98000 |
5.73 |
|
Ashwini Kedia |
106000 |
6.19 |
|
Total |
1711500 |
100.00 |
As on 30.09.2014
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
Bodies corporate |
20.00 |
|
Directors or relatives of Directors |
80.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Plywood, Ply board and Veneer. |
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Products : |
Not Divulged |
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Brand Names : |
Not Divulged |
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Agencies Held : |
Not Divulged |
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Exports : |
Not Divulged |
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Imports : |
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Products : |
Raw Material |
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Countries : |
Newzeland |
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Terms : |
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Selling : |
Cash and Credit |
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Purchasing : |
Cash and Credit |
PRODUCTION STATUS: Not Available
GENERAL INFORMATION
|
Suppliers : |
·
Adonis Limited ·
Jagdamba Industries A’bad ·
Jain Plywood House ·
Forlin Timbers Pte. Limited ·
·
MGA International Pte. Limited ·
Pallan Export and Import Company ·
Popular Timbers ·
Purbanchal Laminates Private Limited ·
Pragati Polymers |
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Customers : |
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No. of Employees : |
Permanent – 50 and Contract basis – 200
(Approximately) |
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Bankers : |
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Facilities : |
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Auditors : |
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Name : |
I. H. Desai and Associates Chartered Accountants |
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Address : |
Office No.13 and 14, Shree Ganesh Building, Plot No.592, Ward 12/C,
Near Police Station, Gandhidham Kutch
– 370 201, Gujarat, India |
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Tel. No.: |
91-2832-226582 |
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Fax No.: |
91-2836-222085/ 233121 |
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E-Mail : |
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PAN No.: |
AABF15449L |
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Memberships : |
Not Divulged |
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Collaborators : |
Not Divulged |
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Associate : |
M/s Deekay Impex |
CAPITAL STRUCTURE
As on 30.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2000000 |
Equity Shares |
Rs.10/- each |
Rs.20.000 Millions |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
|
|
|
|
1711500 |
Equity Shares |
Rs.10/- each |
Rs. 17.115 Millions |
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FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
17.115 |
17.115 |
17.115 |
|
(b) Reserves &
Surplus |
20.581 |
25.466 |
20.391 |
|
(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) |
37.696 |
42.581 |
37.506 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
40.844 |
40.654 |
0.335 |
|
(b) Deferred tax liabilities
(Net) |
0.353 |
0.539 |
0.606 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
41.197 |
41.193 |
0.941 |
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(4) Current Liabilities |
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|
|
|
(a) Short term borrowings |
24.427 |
18.356 |
24.270 |
|
(b) Trade payables |
174.737 |
143.388 |
101.589 |
|
(c) Other current
liabilities |
1.134 |
0.953 |
0.624 |
|
(d) Short-term provisions |
0.019 |
3.670 |
0.032 |
|
Total Current Liabilities
(4) |
200.317 |
166.367 |
126.515 |
|
|
|
|
|
|
TOTAL |
279.210 |
250.141 |
164.962 |
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|
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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 |
|
|
|
|
(i) Tangible assets |
12.945 |
13.699 |
14.826 |
|
(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) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
0.000 |
0.000 |
0.000 |
|
(e) Other Non-current
assets |
2.198 |
1.829 |
21.196 |
|
Total Non-Current Assets |
15.143 |
15.528 |
36.022 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
117.526 |
87.039 |
74.009 |
|
(c) Trade receivables |
98.512 |
89.181 |
45.311 |
|
(d) Cash and cash
equivalents |
47.128 |
57.146 |
9.454 |
|
(e) Short-term loans and
advances |
0.000 |
0.000 |
0.021 |
|
(f) Other current assets |
0.901 |
1.247 |
0.145 |
|
Total Current Assets |
264.067 |
234.613 |
128.940 |
|
|
|
|
|
|
TOTAL |
279.210 |
250.141 |
164.962 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
|
|
|
|
|
Income |
|
|
|
|
|
Other Income |
|
|
|
|
|
TOTAL (A) |
503.399 |
365.419 |
339.589 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
|
|
|
|
Purchases of
Stock-in-Trade |
|
|
|
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Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
|
|
|
|
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Employees benefits
expense |
|
|
|
|
|
Other expenses |
|
|
|
|
|
TOTAL (B) |
494.697 |
350.542 |
333.424 |
|
|
|
|
|
|
|
Less |
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION (C) |
8.702 |
14.877 |
6.165 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES (D) |
6.816 |
5.619 |
3.361 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
1.886 |
9.258 |
2.804 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
1.384 |
1.568 |
1.644 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX (E-F) (G) |
0.502 |
7.690 |
1.160 |
|
|
|
|
|
|
|
Less |
TAX (H) |
(0.090) |
2.616 |
0.360 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
(G-H) (I) |
0.592 |
5.074 |
0.800 |
|
|
|
|
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|
Add |
PREVIOUS YEARS’ BALANCE
BROUGHT FORWARD (J) |
9.656 |
4.581 |
3.781 |
|
|
|
|
|
|
|
Less |
Adjustment for Current
Year (K) |
5.477 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
Balance Carried to the
B/S |
4.771 |
9.655 |
4.581 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (Rs.) |
0.35 |
2.96 |
0.47 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
|
|
|
|
Net Profit Margin (PAT / Sales) |
(%) |
0.12 |
1.39 |
0.24 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/Sales) |
(%) |
1.73 |
4.07 |
1.82 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.18 |
3.07 |
0.70 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.01 |
0.18 |
0.03 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
1.73 |
1.39 |
0.66 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.32 |
1.41 |
1.02 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Millions) |
(Rs. In Millions) |
(Rs. In Millions) |
|
Share Capital |
17.115 |
17.115 |
17.115 |
|
Reserves & Surplus |
20.391 |
25.466 |
20.581 |
|
Net worth |
37.506 |
42.581 |
37.696 |
|
|
|
|
|
|
long-term borrowings |
0.335 |
40.654 |
40.844 |
|
Short term borrowings |
24.270 |
18.356 |
24.427 |
|
Total borrowings |
24.605 |
59.010 |
65.271 |
|
Debt/Equity ratio |
0.656 |
1.386 |
1.732 |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Millions) |
(Rs. In Millions) |
(Rs. In Millions) |
|
Sales |
339.589 |
365.419 |
503.399 |
|
|
|
7.606 |
37.759 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Millions) |
(Rs. In Millions) |
(Rs. In Millions) |
|
Sales |
339.589 |
365.419 |
503.399 |
|
Profit |
0.800 |
5.074 |
0.592 |
|
|
0.24% |
1.39% |
0.12% |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES OF LONG TERM DEBTS IS NOT AVAILABLE
|
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 |
Yes |
|
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] |
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 |
Yes |
Note:
The Registered office of the company has been shifted Kamakhya Lumber
Men Complex Plot No 4 Survey No 77/78 N H 8 A Padana, Gandhidham-Kutch – 370210,
Gujarat, India to the present address w.e.f. 18.06.2007
OPERATIONS:
The company carried activity of manufacturing and sales of veneers / plywood during the year under audit. The company was also having trading of timber during the year under audit. The company purchased 22013.69 CBM of timber logs during the previous financial year and sold 14391.75 CBM of timber, part of same was used for manufacturing of veneers and plywood and balance of quantity remained as unsold stock of timber. Overall operations of the company remained at satisfactory level.
UNSECURED LOANS
|
PARTICULAR |
31.03.2014 (Rs.
in Millions) |
31.03.2013 (Rs.
in Millions) |
|
LONG TERM
BORROWINGS |
|
|
|
Ashwlnl Kedia |
3.934 |
5.746 |
|
Dilip Kedia |
25.126 |
22.678 |
|
Mangol Kamna CornmoDeal Private Limited |
3.908 |
3.615 |
|
Rishi Finrnan Consultancy Private Limited |
0.000 |
1.700 |
|
Subh Labh Protlsthan Private Limited |
0.557 |
0.516 |
|
Uljwal Cornrnodeol Private Limited |
5.650 |
5.227 |
|
Vjay Kedia |
1.186 |
1.089 |
|
Total |
40.361 |
40.571 |
VIEW INDEX OF
CHARGES
|
S. No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
90112889 |
24/06/2004 |
10,000,000.00 |
CORPORATION BANK |
GANDHIDHAM BRANCH,
GANDHIDHAM, KUTCH, |
- |
|
2 |
90112794 |
02/06/2014 * |
210,000,000.00 |
CORPORATION BANK |
DBZ - NORTH 193, |
C08164865 |
* Date of charge modification
FIXED ASSETS
·
Land
·
Factory
·
Plant and Machinery
·
Air Conditioner
·
EPBX System
·
Hydraulic Crane
·
General Set
·
Instrument for Laboratory
·
Refrigerator
·
Plant and Machinery
·
LCD TV
·
Mobile Instrument
·
Motor Car
·
Scooter
·
Computer
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. 62.20 |
|
|
1 |
Rs. 97.80 |
|
Euro |
1 |
Rs. 77.48 |
INFORMATION DETAILS
|
Information
Gathered by : |
HET |
|
|
|
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
TRU |
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 |
4 |
|
--PROFITABILITY |
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 |
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 |
|
30 |
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.