MIRA INFORM REPORT
|
Report Date : |
18.02.2014 |
IDENTIFICATION DETAILS
|
Name : |
SUNLAND RECYCLING INDUSTRIES LIMITED |
|
|
|
|
Registered
Office : |
A-501/507, Ramji House, 5th Floor, 30, Jambulwadi,
Kalbadevi Road, Mumbai – 400002, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
12.07.2011 |
|
|
|
|
Com. Reg. No.: |
11-219683 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs. 180.027 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U27101MH2011PLC219683 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMS72175F |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAQCS2722J |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Non-Ferrous Metal and Ingots. |
|
|
|
|
No. of Employees
: |
500 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
C |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
Status : |
Temporary business closed down |
|
|
|
|
Payment Behaviour : |
Unknown |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Mr. Anil Pillai, Finance Manager confirmed that company has temporary
closed down their business as they have transferred their business to sister
concern company “Sunland Alloys” from 29th March, 2013. They might start business in this company in future. Payment terms are unknown. The subject can be considered for business dealing on a fully secured
trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
INDIAN ECONOMIC OVERVIEW
The worst is over for India’s economy with gross domestic product likely
to expand 5 %to 5.5 % this year and more than 6 % in 2015, according to Moody’s
Analytics. Concerns over the rupee and current account deficit are under
control, said the agency. Ratings firm Crisil has forecast 6 % growth for
2014/15 up from the estimated 4.8 % for 2013/14. Total economic growth,
infrastructure bottlenecks and lack of transparency and consistency in foreign
direct investment policies seem to have taken a toll on India’s attractiveness
as an investment destination, says an Ernst & Young survey. Projects
with FDI component fell 16.4 % across the globe in 2012 from the previous
year. The drop in India was steeper at 21 %. State run carrier Air India
is doling out free tickets to its 24000 employees, even as it expects to incur
a loss of Rs 39000 mn this financial year and has a debt of Rs 350000 mn.
550000 number of jobs generated across India in 2013, a fall of 0.4 % as
compared to with a year earlier. The National Capital Region has a
one-fourth share in total jobs created, according to a study by industry lobby
group Assochem, Banks, real estate, automobile and telecommunications sectors
are showing a rise of job creation. $ 805 mn investments by venture capital
firms in India during 2013, registering a drop of about 18 % over the previous
year. The Information Technology and IT-Enabled Services Industry
retained its status as the favourable venture capital investors in 2013.
Pakistan has temporarily banned gold imports for the second time in six months,
as it tries to stem smuggling into India. India’s import duty on gold is 10 %
and curbs on purchases have dried up legal imports into what used to be the
world’s biggest bullion buyers. The World Gold Council puts the amount smuggled
into India at upto 200 tonnes in 2013. The Reserve Bank of India has proposed
that unclaimed bank deposits estimated to be about Rs 35000 mn be used for
education and awareness among depositors. According to the plan, deposits
that have not been claimed for at least 10 years will be transferred to the
scheme.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long term rating: “BBB-” |
|
Rating Explanation |
Moderate credit risk quality and average credit risk. |
|
Date |
26.10.2012 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
INFORMATION PARTED BY
|
Name : |
Mr. Anil Pillai |
|
Designation : |
Finance Manager |
|
Contact No.: |
91-9870992403 |
|
Date : |
17.02.2014 |
LOCATIONS
|
Registered Office : |
A-501/507, Ramji House, 5th Floor, 30, Jambulwadi,
Kalbadevi Road, Mumbai – 400002, Maharashtra, India |
|
Tel. No.: |
91-22-40901600 |
|
Mobile No.: |
91-9870992403 (Mr. Anil Pillai) |
|
Fax No.: |
91-22-40901619 |
|
E-Mail : |
|
|
Website: |
|
|
Area: |
3000 sq.ft |
|
Location: |
Owned |
|
|
|
|
Factory : |
Survey No. 8/9/1/2, Village Karajgam, Silvassa – 396230, Dadra and Nagar Haveli, India |
|
Tel. No.: |
91-260-3298230 |
|
Area: |
50000 sq.ft. |
7
DIRECTORS
As on 30.09.2013
|
Name : |
Mr. Surendra Kumar Prathaviraj Kachhara |
|
Designation : |
Director |
|
Address : |
8-B, Abhilasha Building, 46,August Kranti Marg, Gwaliya Tank, Mumbai – 400036, Maharashtra, India |
|
Date of Birth/Age : |
20.03.1955 |
|
Date of Appointment: |
01.10.2011 |
|
Qualification: |
B COM |
|
PAN No. : |
AHPPK1684G |
|
DIN No.: |
01287721 |
|
|
|
|
Name : |
Mr. Mahendra Kumar Prithviraj Kachhara |
|
Designation : |
Director |
|
Address : |
9-D, Abhilasha Building, August Kranti Marg, Gwaliya Tank, Mumbai – 400036, Maharashtra, India |
|
Date of Birth/Age : |
11.02.1962 |
|
Date of Appointment: |
01.10.2011 |
|
Qualification: |
B COM |
|
PAN No. : |
AACPK9650Q |
|
DIN No.: |
02283218 |
|
|
|
|
Name : |
Mr. Sushil Kumar Suraj Prakash Aggarwal |
|
Designation : |
Director |
|
Address : |
17/33,Shakti Nagar, Delhi – 110007, India |
|
Date of Birth/Age : |
28.08.1957 |
|
Date of Appointment: |
01.10.2011 |
|
Qualification: |
B COM |
|
PAN No. : |
AACPA2365G |
|
DIN No.: |
01287783 |
|
|
|
|
Name : |
Mr. Sanjiv Kumar Suraj Prakash Aggarwal |
|
Designation : |
Director |
|
Address : |
17/33,Shakti Nagar, Delhi – 110007, India |
|
Date of Birth/Age : |
03.11.1965 |
|
Date of Appointment: |
01.10.2011 |
|
Qualification: |
B COM |
|
PAN No. : |
AACPA6300P |
|
DIN No.: |
01287748 |
KEY EXECUTIVES
|
Name : |
Mr. Anil Pillai |
|
Designation : |
Finance Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 28.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
Surendra Kumar Kachhara |
|
4500000 |
|
Mahendra Kumar Kachhara |
|
4500000 |
|
Sushil Kumar Aggarwal |
|
8100000 |
|
Sanjeev Kumar Aggarwal |
|
900000 |
|
Mahendra Kumar |
|
900 |
|
Lalit Mangilal Kumbhar |
|
900 |
|
Narayan Thanaji Gayari |
|
900 |
|
B.R.Sonkar |
|
1 |
|
Foliage Properties, India |
|
1 |
|
Jayesh R.Shah |
|
1 |
|
Jolly S.Sonkar |
|
1 |
|
Mahavir Ranka HUF |
|
1 |
|
Meenakshi Exports, India |
|
1 |
|
Neelam Sharma |
|
1 |
|
Pragnya V.Shah |
|
1 |
|
Rasiklal M.Shah |
|
1 |
|
Suresh B.Sonkar |
|
1 |
|
Susheel Jain |
|
1 |
|
Vinod R.Shah |
|
1 |
|
Total |
|
18002712 |
As on 30.09.2013
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 : |
Manufacturer of Non-Ferrous Metal and Ingots. |
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Products : |
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|
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Imports : |
|
||||
|
Products : |
Scrap |
||||
|
Countries : |
· China · Germany · France and Some Gulf Countries |
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Terms : |
|
||||
|
Selling : |
Cash and Credit (30 Days and 60 Days) |
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|
Purchasing : |
Cash against documents |
GENERAL INFORMATION
|
Suppliers : |
Nord Scott, Germany |
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|
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Customers : |
Wholesalers and Retailers · Bajaj Auto Limited |
|||||||||||||||
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|||||||||||||||
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No. of Employees : |
500 (Approximately) |
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|||||||||||||||
|
Bankers : |
· ICICI Bank Limited, Landmarkrace Cource Circle, Alkapuri, Baroda - 390015, Gujarat, India · State Bank of India, Industrial Finance Branch, The Arcade, 2nd Floor, World Trade Centre, Cuffe P, Mumbai - 400005, Maharashtra, India |
|||||||||||||||
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|
|||||||||||||||
|
Facilities : |
Fund and Non-Fund: Rs. 200.000 Millions (From State Bank of
India)
NOTE Working Capital loan from banks i.e cash credit limit and
Byers Credit is secured by hypothication of all kinds of Stocks i.e.Raw Material
,Finished Goods,Goods in Transit/ Process , stores , spares parts, packing
material, and book debts, outstanding Trade receivables , outstanding claims
and bills etc. and second charge by personal guarantee of Directors. |
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
B G Gokhru and Company Chartered Accountants |
|
Address : |
27 Rungta Bhavan, II Floor, 100, Fanaswadi, Sitaram Poddar School Marg, Mumbai – 400002, Maharashtra, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AAFPG3666F |
|
|
|
|
Other Related Party
: |
· Dyna Trade Link Private Limited · Sunland Alloys · Sunland Metlal Limited |
CAPITAL STRUCTURE
As on 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
25000000 |
Equity Shares |
Rs.10/- each |
Rs.250.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
18002712 |
Equity Shares |
Rs.10/- each |
Rs.180.027 Millions
|
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2013 |
31.03.2012 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders'
Funds |
|
|
|
|
(a) Share Capital |
|
180.027 |
180.027 |
|
(b) Reserves & Surplus |
|
45.217 |
19.648 |
|
(c) Money
received against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2)
Share Application money pending allotment |
|
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
|
225.244 |
199.675 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
|
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
|
0.000 |
0.003 |
|
(c) Other long term
liabilities |
|
0.000 |
0.000 |
|
(d) long-term
provisions |
|
8.885 |
8.885 |
|
Total Non-current
Liabilities (3) |
|
8.885 |
8.888 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
|
348.289 |
489.761 |
|
(b) Trade
payables |
|
0.123 |
4.439 |
|
(c) Other
current liabilities |
|
6.445 |
5.853 |
|
(d) Short-term
provisions |
|
10.138 |
0.071 |
|
Total Current
Liabilities (4) |
|
364.995 |
500.124 |
|
|
|
|
|
|
TOTAL |
|
599.124 |
708.687 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
|
53.401 |
53.140 |
|
(ii)
Intangible Assets |
|
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
|
0.000 |
0.000 |
|
(iv)
Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
35.846 |
41.459 |
|
(c) Deferred tax assets (net) |
|
0.165 |
0.000 |
|
(d) Long-term Loan and Advances |
|
0.000 |
0.000 |
|
(e) Other
Non-current assets |
|
0.000 |
0.000 |
|
Total Non-Current
Assets |
|
89.412 |
94.599 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
|
0.000 |
0.000 |
|
(b)
Inventories |
|
0.000 |
95.956 |
|
(c) Trade
receivables |
|
317.389 |
304.538 |
|
(d) Cash
and cash equivalents |
|
63.278 |
2.384 |
|
(e)
Short-term loans and advances |
|
1.325 |
11.598 |
|
(f) Other
current assets |
|
127.720 |
199.612 |
|
Total
Current Assets |
|
509.712 |
614.088 |
|
|
|
|
|
|
TOTAL |
|
599.124 |
708.687 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
3878.657 |
1794.541 |
|
|
|
Other Income |
|
44.217 |
14.122 |
|
|
|
TOTAL |
|
3922.874 |
1808.663 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
|
3611.225 |
1665.552 |
|
|
|
Changes in inventories of finished goods, work-in-progress and stock-in-trade |
|
47.662 |
(10.520) |
|
|
|
Employee benefit expense |
|
13.978 |
3.956 |
|
|
|
Other expenses |
|
130.212 |
67.857 |
|
|
|
TOTAL |
|
3803.077 |
1726.845 |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
|
119.797 |
81.818 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
|
77.253 |
49.817 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
|
42.544 |
32.001 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
|
7.048 |
3.465 |
|
|
|
|
|
|
|
|
|
Less |
EXCEPTIONAL ITEMS |
|
0.050 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
|
35.446 |
28.536 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
|
10.045 |
8.885 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
|
25.401 |
19.651 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
|
1.29 |
1.09 |
|
KEY RATIOS
|
PARTICULARS |
|
|
31.03.2013 |
31.03.2012 |
|
PAT / Total Income |
(%) |
|
0.65 |
1.09 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
|
0.91 |
1.59 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
|
6.29 |
4.28 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
|
0.16 |
0.14 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
|
1.55 |
2.45 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
|
1.40 |
1.23 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Share Capital |
180.027 |
180.027 |
|
Reserves & Surplus |
19.648 |
45.217 |
|
Net
worth |
199.675 |
225.244 |
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
|
Short term borrowings |
489.761 |
348.289 |
|
Total
borrowings |
489.761 |
348.289 |
|
Debt/Equity
ratio |
2.453 |
1.546 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
1794.541 |
3878.657 |
|
|
|
116.136 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
1794.541 |
3878.657 |
|
Profit |
19.651 |
25.401 |
|
|
1.10% |
0.65% |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES OF LONG TERM DEBTS
|
Particulars |
|
31.03.2013 (Rs.
In Millions) |
31.03.2012 (Rs.
In Millions) |
|
|
|
|
|
|
Current maturities of long-term debt |
|
0.000 |
0.000 |
|
|
|
|
|
|
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
two years |
Yes |
|
12] |
Profitability for last
two 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 |
Yes |
|
33] |
Voter ID No of Proprietor/Partner/Director,
if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
10455011 |
18/12/2013 * |
638,000,000.00 |
ICICI BANK LIMITED |
LANDMARKRACE COURCE CIRCLE, ALKAPURI, BARODA - 390015, GUJARAT, INDIA |
B92125715 |
* Date of charge modification
UNSECURED LOANS
|
PARTICULAR |
31.03.2013 (Rs.
In Millions) |
31.03.2012 (Rs.
In Millions) |
|
SHORT TERM
BORROWINGS |
|
|
|
Short Tem Loan from Others |
66.250 |
45.250 |
|
Short Tem Loan from Related Parties |
68.697 |
106.662 |
|
Short Tem Loan from Shareholders |
41.759 |
70.259 |
|
Total |
176.706 |
222.171 |
FIXED ASSETS
· Land
· Factory Building
· Fax Machine
· Forklift
· Lab
· Equipments
· Telephone Equipments
· Weighment Machine
· Zerox Machine
· Conductivity Meter
· Cooling Tower
· Generator
· Plant and Machinaries
· Transformer
· Electrical Fittings and Installations
· Furniture and Fixture
· Commercial Vehicle
· Motor Car
· 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.61.95 |
|
|
1 |
Rs.104.02 |
|
Euro |
1 |
Rs.84.95 |
INFORMATION DETAILS
|
Information
Gathered by : |
HNA |
|
|
|
|
Report Prepared
by : |
MRI |
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.