MIRA INFORM REPORT
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Report Date : |
31.12.2014 |
IDENTIFICATION DETAILS
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Name : |
JAYASHREE POLYMERS PRIVATE LIMITED |
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Registered
Office : |
21/4, D-1 Block, MIDC, Chinchwad, Pune - 411019, Maharashtra |
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Country : |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
02.02.1996 |
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Com. Reg. No.: |
11-096879 |
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Capital
Investment / Paid-up Capital : |
Rs.30.000 Millions |
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CIN No.: [Company Identification
No.] |
11-096879 |
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TIN No.: |
Not Available |
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IEC No.: |
Not Available |
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TAN No.: [Tax Deduction &
Collection Account No.] |
PNEJ04748C |
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PAN No.: [Permanent Account No.] |
AAACJ4677K |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturing of Rubber Parts and Generation of Power (through Windmill). |
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No. of Employees
: |
500 (Approximately) |
RATING & COMMENTS
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MIRA’s Rating : |
Ba (48) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having satisfactory track record. Financial position of the company seems to be decent. Trade relations are fair. Business is active. Payment terms are
reported to be usually correct. The company can be considered for business dealings at usual 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.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
|
Rating |
Long Term Fund Based Limits = BBB- |
|
Rating Explanation |
Have moderate degree of safety and carry
moderate credit risk |
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Date |
March 2014 |
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Rating Agency Name |
ICRA |
|
Rating |
Short Term Non Fund Based Limits = A3 |
|
Rating Explanation |
Have moderate degree of safety and carry
higher credit risk |
|
Date |
March 2014 |
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. Amit Mirande |
|
Designation : |
Finance Manager |
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Contact No.: |
91-20-30961460 |
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Date : |
31.12.2014 |
LOCATIONS
|
Registered Office/ Factory : |
21/4, D-1 Block, MIDC, Chinchwad, Pune - 411019, Maharashtra, India |
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Tel. No.: |
91-20-30691402 / 03/ 04 |
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Fax No.: |
91-20-27440237 |
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E-Mail : |
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Website : |
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Factory : |
Also Located At:
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DIRECTORS
As on 30.09.2014
|
Name : |
Mr. Vinodkumar Surajbhan Bansal |
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Designation : |
Managing Director |
|
Address : |
427/27, A, P.C.N.T., Nigdi, Pune 411044, Maharashtra, India |
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Date of Birth/Age : |
05.10.1959 |
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Date of Appointment : |
02.02.1996 |
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DIN No.: |
01678799 |
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Name : |
Mr. Ramdhari Surajbhan Agarwal |
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Designation : |
Whole Time Director |
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Address : |
174/24, A, P.C.N.T., Nigdi, Pune 411044, |
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Date of Birth/Age : |
11.03.1944 |
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Date of Appointment : |
02.02.1996 |
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DIN No.: |
01185393 |
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Name : |
Mr. Rajiv Ramdhari Bansal |
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Designation : |
Whole-time director |
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Address : |
174/24, A, P.C.N.T., Nigdi, Pune 411044, |
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Date of Birth/Age : |
15.07.1975 |
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Date of Appointment : |
11.09.2002 |
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DIN No.: |
01521770 |
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Name : |
Mr. Rahul Ramdhari Bansal |
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Designation : |
Director |
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Address : |
174/24, A, P.C.N.T., Nigdi, Pune 411044, Maharashtra, India |
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Date of Birth/Age : |
01.08.1977 |
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Date of Appointment : |
01.10.2009 |
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DIN No.: |
02988683 |
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Name : |
Mr. Ajay Yashwant Pande |
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Designation : |
Additional director |
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Address : |
H No. 88, kiwale Dehu Road, Tal Haveli, Pune – 412101, Maharashtra,
India |
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Date of Birth/Age : |
04.05.1958 |
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Date of Appointment : |
30.09.2011 |
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Din No.: |
03441421 |
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Name : |
Varun Vinodkumar Bansal |
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Designation : |
Additional director |
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Address : |
427/27, A, P.C.N.T., Nigdi, Pune 411044, Maharashtra, India |
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Date of Birth/Age : |
03.02.1989 |
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Date of Appointment : |
29.12.2011 |
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DIN No.: |
05227793 |
KEY EXECUTIVES
|
Name : |
Mr. Amit Mirande |
|
Designation : |
Finance Manager |
MAJOR SHAREHOLDERS
As on 30.09.2014
SHAREHOLDING DETAILS FILE ATTACHED
Equity Share Break up (Percentage of Total Equity)
As on 30.09.2014
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing of Rubber Parts and Generation of Power (through Windmill). |
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Products : |
Rubber Parts |
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Brand Names : |
-- |
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Agencies Held : |
-- |
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Exports : |
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Products : |
Rubber Products |
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Countries : |
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Imports : |
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Products : |
Raw Material |
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Countries : |
South Asian Countries |
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Terms : |
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Selling : |
Cash and Advance Payment |
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Purchasing : |
Cash and Advance Payment |
PRODUCTION STATUS – NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
500 (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 : |
L B Laddha and Company Chartered Accountants |
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Address : |
Flat No. 7 and 8, Secound Floor, Sukhwani Chambers, Station Road,
Pimpri, Pune-411018, Maharashtra, India |
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Tel. No.: |
91-20-27426966 / 27420547 |
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E-Mail : |
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PAN No: |
AAJPL1258Q |
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Memberships : |
-- |
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Collaborators : |
-- |
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Subsidiary Company
: |
CIN No.: U72900PN2010PTC138030
CIN No.: U51495PN2006PTC022010
CIN No.: U29299PN1998PTC012577 |
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Others : |
CIN No.: U01112PN1998PTC013165 |
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Enterprises which are owned, or have significant influence of or are partners
with Key management personnel and their relatives
: |
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CAPITAL STRUCTURE
As on 30.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
|
|
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|
3000000 |
Equity Shares |
Rs.10/- each |
Rs.30.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3000000 |
Equity Shares |
Rs.10/- each |
Rs.30.000 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 |
30.000 |
16.742 |
16.742 |
|
(b) Reserves & Surplus |
362.107 |
303.161 |
261.240 |
|
(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) |
392.107 |
319.903 |
277.982 |
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(3)
Non-Current Liabilities |
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(a) long-term borrowings |
356.884 |
393.434 |
325.198 |
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(b) Deferred tax liabilities (Net) |
15.502 |
11.446 |
6.397 |
|
(c) Other long term
liabilities |
6.337 |
4.739 |
0.000 |
|
(d) long-term
provisions |
0.000 |
0.000 |
0.000 |
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Total Non-current
Liabilities (3) |
378.723 |
409.619 |
331.595 |
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(4)
Current Liabilities |
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(a) Short
term borrowings |
319.369 |
309.373 |
290.056 |
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(b) Trade
payables |
303.204 |
252.478 |
275.740 |
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(c) Other
current liabilities |
84.461 |
81.510 |
74.664 |
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(d) Short-term
provisions |
27.148 |
29.156 |
21.914 |
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Total Current
Liabilities (4) |
734.182 |
672.517 |
662.374 |
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|
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TOTAL |
1,505.012 |
1,402.039 |
1,271.951 |
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II.
ASSETS |
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(1)
Non-current assets |
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(a) Fixed
Assets |
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(i)
Tangible assets |
610.325 |
593.993 |
536.979 |
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(ii)
Intangible Assets |
2.074 |
1.227 |
1.480 |
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(iii)
Capital work-in-progress |
21.665 |
17.812 |
0.771 |
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(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
48.850 |
42.250 |
19.250 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
26.495 |
26.308 |
13.228 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
709.409 |
681.590 |
571.708 |
|
|
|
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(2)
Current assets |
|
|
|
|
(a)
Current investments |
32.055 |
40.737 |
41.708 |
|
(b)
Inventories |
317.887 |
273.419 |
214.017 |
|
(c) Trade
receivables |
311.059 |
269.363 |
316.163 |
|
(d) Cash
and cash equivalents |
7.028 |
8.908 |
3.417 |
|
(e)
Short-term loans and advances |
120.907 |
114.488 |
120.243 |
|
(f) Other
current assets |
6.667 |
13.534 |
4.695 |
|
Total
Current Assets |
795.603 |
720.449 |
700.243 |
|
|
|
|
|
|
TOTAL |
1,505.012 |
1,402.039 |
1,271.951 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
||
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SALES |
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Income |
|
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Other Income |
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TOTAL (A) |
1,783.182 |
1,554.280 |
1,517.889 |
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|
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||
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Less |
EXPENSES |
|
|
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||
|
|
|
|
1,713.869 |
|
1,350.471 |
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||
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|
PROFIT/(LOSS)
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
|
|
167.418 |
||
|
|
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|
|
|
||
|
Less |
FINANCIAL
EXPENSES (D) |
|
|
66.245 |
||
|
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|
|
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||
|
|
PROFIT/(LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D)
(E) |
|
|
101.173 |
||
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||
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Less |
DEPRECIATION/
AMORTISATION (F) |
|
|
53.049 |
||
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||
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|
PROFIT/(LOSS)
BEFORE TAX (E-F) (G) |
69.313 |
52.658 |
48.124 |
||
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||
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Less |
TAX (H) |
5.103 |
5.840 |
1.061 |
||
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||
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|
PROFIT/(LOSS) AFTER
TAX (G-H) (I) |
64.210 |
46.818 |
47.063 |
||
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Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
NA |
17.301 |
1.103 |
||
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||
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Less |
APPROPRIATIONS |
|
|
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||
|
|
|
Transfer to General Reserve |
NA |
NA |
26.000 |
|
|
|
|
Dividend |
NA |
NA |
4.186 |
|
|
|
|
Tax on Dividend |
NA |
NA |
0.679 |
|
|
|
BALANCE CARRIED
TO THE B/S |
NA |
NA |
17.301 |
||
|
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||
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EARNINGS IN
FOREIGN CURRENCY |
|
|
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||
|
|
|
Export Earnings |
266.075 |
250.756 |
258.825 |
|
|
|
TOTAL EARNINGS |
266.075 |
250.756 |
258.825 |
||
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|
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||
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|
Earnings /
(Loss) Per Share (Rs.) |
21.40 |
27.96 |
28.11 |
||
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
NA |
NA |
11.03 |
|
|
|
|
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Return on Total Assets (PBT/Total Assets} |
(%) |
4.83 |
3.92 |
3.84 |
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Return on Investment (ROI) (PBT/Networth) |
|
0.18 |
0.16 |
0.17 |
|
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|
|
|
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|
Debt Equity Ratio (Total Debt /Networth) |
|
1.72 |
2.20 |
2.21 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.08 |
1.07 |
1.06 |
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 |
16.742 |
16.742 |
30.000 |
|
Reserves & Surplus |
261.240 |
303.161 |
362.107 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
277.982 |
319.903 |
392.107 |
|
|
|
|
|
|
Long Term borrowings |
325.198 |
393.434 |
356.884 |
|
Short Term borrowings |
290.056 |
309.373 |
319.369 |
|
Total
borrowings |
615.254 |
702.807 |
676.253 |
|
Debt/Equity
ratio |
2.213 |
2.197 |
1.725 |
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 |
|
Total Income |
1,517.889 |
1,554.280 |
1,783.182 |
|
|
|
2.397 |
14.727 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
Rs.
In Millions |
Rs.
In Millions |
Rs.
In Millions |
|
Total Income |
1,517.889 |
1,554.280 |
1,783.182 |
|
Profit |
47.063 |
46.818 |
64.210 |
|
|
3.10% |
3.01% |
3.60% |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
Rs.
In Millions
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current maturities of long term debt |
69.301 |
69.482 |
67.565 |
|
Total |
69.301 |
69.482 |
67.565 |
|
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 |
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] |
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 |
UNSECURED LOANS:
|
Particulars |
31.03.2014 Rs. In Millions |
31.03.2013 Rs. In Millions |
|
LONG TERM BORROWINGS |
|
|
|
Non-convertible Debentures |
6.000 |
6.000 |
|
SHORT TERM BORROWINGS |
|
|
|
Rupee term loans from others |
0.000 |
10.906 |
|
Total |
6.000 |
16.906 |
OPERATIONS
During the Year ended on 31st March, 2014, the company achieved a turnover of Rs.1783.100 Millions as against Rs.1554.200 Millions for previous year, showing an increase of 15%, despite the tough economic environment and depressing conditions in automotive sector in particular.
The current year environment looks better after the new government formation and looking at the order book and new customer additions made by the Company.
The new plant at Hosur mainly for Honda scooter and other south customers is doing well and has reached the breakeven point.
The windmills at Satara and Dhule are performing well as per expectation
INDEX OF CHARGE:
|
Sr. No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10535893 |
25/11/2014 |
60,000,000.00 |
Yes Bank Limited |
Bhandarkar Road Branch, Shivajinagar, Pune, Maharashtra - 411004, India |
C36564367 |
|
2 |
10428356 |
24/05/2013 |
34,520,000.00 |
Citibank N. A. |
First Floor, Onyx Tower, Near Westin Hotel,, North Main Road, Koregaon Park, Pune, Mumbai, Maharashtra - 411001, India |
B75954305 |
|
3 |
10425355 |
06/03/2014 * |
20,000,000.00 |
Yes Bank Limited |
Nehru
Centre, 9th Floor, Discovery Of India, Dr. |
C00200949 |
|
4 |
10425351 |
06/03/2014 * |
15,000,000.00 |
Yes Bank Limited |
Nehru
Centre, 9th Floor, Discovery Of India, Dr. |
C00199000 |
|
5 |
10413319 |
20/02/2013 |
15,480,000.00 |
Citibank N. A. |
First Floor, Onyx Tower, Near Westin Hotel, North Main Road, Koregaon Park, Pune, Maharashtra - 411001, India |
B71294813 |
|
6 |
10358500 |
07/07/2012 * |
22,500,000.00 |
Citibank N. A. |
Trent
House, 2nd Floor, G Block, Plot No.C60, Bandra Kurla Complex, Bandra (E),
Mumbai, Maharashtra |
B44761831 |
*Date of modification Charges
FIXED ASSETS:
·
Land
·
Building
·
Plant and Machinery
·
Computer
·
Vehicles
·
Furniture and Fixture
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.63.75 |
|
|
1 |
Rs.98.88 |
|
Euro |
1 |
Rs.77.32 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
VNT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILITY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
|
48 |
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.