MIRA INFORM REPORT
|
Report Date : |
27.12.2014 |
IDENTIFICATION DETAILS
|
Name : |
CHHABI ELECTRICALS PRIVATE
LIMITED |
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Registered
Office : |
E-66, M.I.D.C., |
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Country : |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
28.11.1978 |
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Com. Reg. No.: |
11-020807 |
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Capital
Investment / Paid-up Capital : |
Rs. 24.916 Millions |
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|
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CIN No.: [Company Identification
No.] |
U32109MH1978PTC020807 |
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IEC No.: |
Not Available |
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TAN No.: [Tax Deduction &
Collection Account No.] |
NSKC00025E |
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|
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PAN No.: [Permanent Account No.] |
AABCC3660J |
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Legal Form : |
Private Limited Liability Company. |
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Line of Business
: |
Subject is engaged in manufacturing battery chargers and DC
Distribution boards and installation, maintenance, erection and commissioning
in relation thereto. |
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|
No. of Employees
: |
Information declined by the management. |
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 |
|
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 is constrained on account of company’s moderate operational
risk profile marked by leverage capital structure and declining in
profitability of the company during 2014. 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 – September 30, 2014
|
Country Name |
Previous Rating (30.06.2014) |
Current Rating (30.09.2014) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
|
Rating |
Long Term Loan = B+ |
|
Rating Explanation |
Risk prone credit quality and very high credit risk. |
|
Date |
December 2013 |
|
Rating Agency Name |
ICRA |
|
Rating |
Short Term Non Fund Based = A4 |
|
Rating Explanation |
Minimal degree of safety and very high credit risk. |
|
Date |
December 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 DENIED
Management non co-operative (Tel. No.: 91-257-2210626)
LOCATIONS
|
Registered Office : |
E-66, M.I.D.C., |
|
Tel. No.: |
91-257-2210626/ 27/ 28 |
|
Fax No.: |
91-257-2213434 |
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E-Mail : |
DIRECTORS
AS ON 30.09.2014
|
Name : |
Madhusudan Onkar Rane |
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|
Designation : |
Chairman cum Managing Director |
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Address : |
A-3, Co-Operative Industrial Estate, |
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Date of Birth/Age : |
10.03.1938 |
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Date of Appointment : |
28.11.1978 |
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DIN No.: |
00256447
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||||||||||||||||||||||||||||||||||||
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Name : |
Chhabiraj Madhusudan Rane |
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|
Designation : |
Managing Director |
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|
Address : |
A-3, Co-Operative Industrial Estate, Ajanta Road, Jalgaon – 425003,
Maharashtra, India |
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Date of Birth/Age : |
27.10.1964 |
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Date of Appointment : |
22.12.1993 |
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DIN No.: |
00256662
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Other
Directorship:
|
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Name : |
Supriya Chhabiraj Rane |
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Designation : |
Director |
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|
Address : |
A-3, Co-Operative Industrial Estate, Ajanta Road, Jalgaon – 425003, Maharashtra,
India |
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Date of Birth/Age : |
14.10.1967 |
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Date of Appointment : |
01.04.2004 |
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DIN No.: |
00256609
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Other
Directorship:
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Name : |
Saili Chhabiraj Rane |
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Designation : |
Director |
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|
Address : |
A-3, Co-Operative Industrial Estate, Ajanta Road, Jalgaon – 425003,
Maharashtra, India |
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|
Date of Birth/Age : |
28.04.1991 |
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Date of Appointment : |
01.04.2011 |
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DIN No.: |
03502848 |
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MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2014
|
Names of Shareholders |
|
No. of Shares |
|
Mr. Ashok M. Shah |
|
10 |
|
Mr. Chhabiraj M. Rane |
|
88576 |
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Mrs. Dinkala R. Shah |
|
10 |
|
Mr. Madhusudan O. Rane |
|
103675 |
|
Mrs. Supriya C. Rane |
|
35225 |
|
Mr. Chhabiraj M. Rane (SIC) |
|
2708 |
|
Mr. Chhabiraj M. Rane (HUF) |
|
3250 |
|
Mr. Madhusudan O Rane (HUF) |
|
9750 |
|
Ms. Saili Chhabiraj Rane |
|
5958 |
|
Total |
|
249162 |
AS ON 30.09.2014
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in manufacturing battery chargers and DC Distribution
boards and installation, maintenance, erection and commissioning in relation
thereto. |
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Products : |
Not Available |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
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Selling : |
Not Available |
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Purchasing : |
Not Available |
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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No. of Employees : |
Information declined by the management. |
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Bankers : |
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Facilities : |
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Auditors : |
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Name : |
Ashwin K. Shah and Company Chartered Accountant |
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Address : |
7, Chemox House, 2nd Floor, Barrack Lane, Dhobitalao, Mumbai – 400020,
Maharahstra, India |
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Tel No.: |
91-22-66317919/ 20 |
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Fax No.: |
91-22-22068659 |
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E-Mail: |
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PAN No.: |
AACPF1021K |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Associates/Subsidiaries : |
Not Available |
CAPITAL STRUCTURE
AS ON 30.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
250,000 |
Equity Shares |
Rs. 100/- each |
Rs. 25.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
249,162 |
Equity Shares |
Rs. 100/-
each |
Rs. 24.916
Millions |
|
|
|
|
|
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 |
24.916 |
24.916 |
24.916 |
|
(b) Reserves & Surplus |
24.926 |
22.919 |
19.584 |
|
(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) |
49.842 |
47.835 |
44.500 |
|
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|
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(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
33.714 |
36.129 |
22.026 |
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(b) Deferred tax liabilities (Net) |
0.000 |
0.093 |
0.104 |
|
(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) |
33.714 |
36.222 |
22.130 |
|
|
|
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|
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(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
106.197 |
78.634 |
74.738 |
|
(b) Trade
payables |
69.085 |
64.198 |
62.130 |
|
(c) Other
current liabilities |
0.500 |
0.500 |
0.500 |
|
(d) Short-term
provisions |
4.159 |
6.701 |
4.505 |
|
Total Current
Liabilities (4) |
179.941 |
150.033 |
141.873 |
|
|
|
|
|
|
TOTAL |
263.497 |
234.090 |
208.503 |
|
|
|
|
|
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II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
33.432 |
21.758 |
22.328 |
|
(ii)
Intangible Assets |
0.136 |
0.136 |
0.136 |
|
(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 |
1.700 |
0.500 |
0.000 |
|
(c) Deferred tax assets (net) |
0.394 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
0.000 |
0.000 |
0.000 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
35.662 |
22.394 |
22.464 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
73.185 |
80.055 |
74.256 |
|
(c) Trade
receivables |
95.692 |
94.780 |
83.329 |
|
(d) Cash
and cash equivalents |
41.940 |
21.937 |
15.024 |
|
(e)
Short-term loans and advances |
17.018 |
14.823 |
13.212 |
|
(f) Other
current assets |
0.000 |
0.101 |
0.218 |
|
Total
Current Assets |
227.835 |
211.696 |
186.039 |
|
|
|
|
|
|
TOTAL |
263.497 |
234.090 |
208.503 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
190.428 |
239.778 |
194.540 |
|
|
|
Other Income |
NA |
NA |
NA |
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
6.190 |
8.232 |
6.968 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
3.588 |
3.256 |
3.169 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
2.602 |
4.976 |
3.799 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
0.008 |
1.549 |
1.172 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
2.594 |
3.427 |
2.627 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
10.41 |
13.75 |
10.54 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
|
|
|
|
Net Profit Margin PAT / Sales |
(%) |
1.36
|
1.42 |
1.35 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/Sales) |
(%) |
3.25
|
3.43 |
3.58 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.00 |
2.13 |
1.82 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.05 |
0.10 |
0.09 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
2.81 |
2.40 |
2.17 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.27 |
1.41 |
1.31 |
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 |
24.916 |
24.916 |
24.916 |
|
Reserves & Surplus |
19.584 |
22.919 |
24.926 |
|
Net
worth |
44.500 |
47.835 |
49.842 |
|
|
|
|
|
|
long-term borrowings |
22.026 |
36.129 |
33.714 |
|
Short term borrowings |
74.738 |
78.634 |
106.197 |
|
Total
borrowings |
96.764 |
114.763 |
139.911 |
|
Debt/Equity
ratio |
2.174 |
2.399 |
2.807 |
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 |
194.540 |
239.778 |
190.428 |
|
|
|
23.254 |
-20.582 |
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 |
194.540 |
239.778 |
190.428 |
|
Profit |
2.627 |
3.427 |
2.594 |
|
|
1.35% |
1.43% |
1.36% |
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 |
No |
|
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 |
Yes |
PERFORMANCE OF THE COMPANY
During the year under report the company has
shown gross turnover of Rs. 212.347 Millions indicating an decrease by Rs.
270.337 Millions over the earlier fiscal. In terms of percentage it is less by
21.45%.The net profit after tax is at the level of Rs. 2.594 Million which is
depressive as compared to the previous year and there has been decrease by
24.31%, There has been pressure on the profitability due to irregular supply of
equipments and components required for the production by overseas suppliers the
sales have been adversely affected.
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10469252 |
03/01/2014 |
5,000,000.00 |
UNION BANK OF INDIA |
KAPURBAVADI BRANCH,
DHANLAXMI INDUSTRIAL ESTATE, |
B93163145 |
|
2 |
10441037 |
05/08/2013 |
9,000,000.00 |
UNION BANK OF INDIA |
KAPURBAVDI BRANCH,
DHANLAXMI INDUSTRIAL ESTATE,, |
B81117053 |
|
3 |
10382944 |
15/10/2012 |
990,039.00 |
L & T FINANCE LIMITED |
L&T HOUSE,, BALLARD
ESTATE,, MUMBAI, Maharashtra |
B60659141 |
|
4 |
10353756 |
25/04/2012 |
1,300,000.00 |
UNION BANK OF INDIA |
KAPURBAVADI BRANCH,
DHANLAXMI INDUSTRIAL ESTATE, |
B38946075 |
|
5 |
10207397 |
13/03/2010 |
465,000.00 |
UNION BANK OF INDIA |
KAPURBAVADI BRANCH,
DHANLAXMI INDUSTRIAL ESTATE, |
A81451023 |
|
6 |
10206801 |
13/03/2010 |
5,000,000.00 |
UNION BANK OF INDIA |
KAPURBAVDI BRANCH,
DHANLAXMI INDUSTRIAL ESTATE,, |
A81079964 |
|
7 |
10094753 |
03/03/2012 * |
125,000,000.00 |
UNION BANK OF INDIA |
KAPRUBAVADI BRANCH,
DHAN LAXMI INDUSTRIAL ESTATE,, |
B35030550 |
|
8 |
10086479 |
05/08/2013 * |
85,000,000.00 |
UNION BANK OF INDIA |
KAPURBAVADI BRANCH,
DHANLAXMI INDUSTRIAL ESTATE, |
B81122707 |
|
9 |
10086478 |
02/01/2008 |
10,000,000.00 |
UNION BANK OF INDIA |
KAPURBAVDI BRANCH,DHANLAXMI
INDUSTRIAL ESTATE,, L INDIA |
A31631559 |
* Date of charge modification
UNSECURED LOANS
|
PARTICULAR |
31.03.2014 (Rs.
in Millions) |
31.03.2013 (Rs.
in Millions) |
|
LONG TERM
BORROWINGS |
|
|
|
Unsecured Loans
from Related Parties Due to Directors and shareholders |
16.243 |
18.525 |
|
Other unsecured
loans Due to NBFCs and financial Institution Due to Bankers |
15.018 1.392 |
12.139 3.511 |
|
Total |
32.653 |
34.175 |
FIXED ASSETS
- Leasehold
Land
- Building
- Office
Equipment
- Furniture and
Fittings
- Plant and
Machinery
- Vehicles
- Computer
- Tools and
Equipment
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. 63.64 |
|
|
1 |
Rs. 98.98 |
|
Euro |
1 |
Rs. 77.74 |
INFORMATION DETAILS
|
Information
Gathered by : |
NYA |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
JYO |
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.