MIRA
INFORM REPORT
|
Report Date : |
10.01.2014 |
IDENTIFICATION DETAILS
|
Name : |
PHOENIX DENTAL EQUIPMENTS PRIVATE LIMITED (w.e.f. 19.05.2010) |
|
|
|
|
Formerly Known
As : |
SYMAX DENTAL EQUIPMENTS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Survey No.-171/8, Darshil Estate, Amarnath Timber’s Lane, Near Gota
Railway Crossing, Gota, Ahmedabad-382 481, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
08.01.2010 |
|
|
|
|
Com. Reg. No.: |
04-059178 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.0.200 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U33116GJ2010PTC059178 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
AHMS18525D |
|
|
|
|
PAN No.: [Permanent Account No.] |
AANCS7968P |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer and Trader of Dental Equipments and its parts. |
|
|
|
|
No. of Employees
: |
50 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (27) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 3800 |
|
|
|
|
Status : |
Small company |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a small company in its field. Its scale of activities are
limited. However, trade relations are reported to be fair. Business is active.
Payment terms are slow but correct. The company can be considered for small 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, 2013
|
Country Name |
Previous Rating (30.06.2013) |
Current Rating (30.09.2013) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
India’s current
account deficit narrowed in the quarter ended September as government measures
to curb imports, especially gold, kicked in. The current account deficit,
the excess of a country’s imports of goods and services over exports, narrowed
to $ 5.2 billion from $ 21 billion in the year ago period, according to
provisional Reserve Bank of India data. Finance Minister P. Chidambaram said
the CAD for the year will be less than $ 60 billion or 3 per cent of GDP and
the latest data suggests the government may achieve the target.
India was ranked 94th
among the world’s most corrupt nations list. Denmark and New Zealand topped as
the cleanest while Somalia emerged as the most corrupt.
India’s services
sector activity witnessed a moderate improvement in November over the previous
month, even while indicating the fifth successive monthly contraction,
according the HSBC survey.
$53 million estimated
losses suffered by India due to phishing attacks during the third quarter,
according to a study by RSA. India ranks fourth in the list of nations hit by
phishing attacks. The US remained at the top of the charts. Phishing is the
process of acquiring information such as user names, passwords and credit card
details by sending e-mails disguised as official mails.
Rs.4080 million
worth of mobile-phone-based transactions by July 2013 compared to Rs.260
million in September, 2012, according to Deloitte report. The number of
transactions has shot up from 94000 to 701000.
India aims to earn
Rs.400000 million from the bandwidth auction set for January. The merger and
acquisition guidelines, cleared by a group of ministers, will be out before the
auction begins so that players can make informed decisions on the auctions.
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. Ronak Kanubhai Patel |
|
Designation : |
Director |
|
Contact No.: |
91-9978999829 |
|
Date : |
28.12.2013 |
LOCATIONS
|
Registered Office / Factory : |
Survey No.-171/8, Darshil Estate, Amarnath Timber’s Lane, Near Gota
Railway Crossing, Gota, Ahmedabad-382 481, |
|
Tel. No.: |
91-79-64502027 / 26462005 |
|
Mobile No.: |
91-9978999829 (Mr. Ronak Kanubhai Patel) |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
|
|
|
|
Branch Office : |
Gf-7, Bhagvat Complex, Near RC Technical Institute, Chandlodiya
(Ghatlodia), Ahmedabad – 380061, Gujarat, India |
DIRECTORS
As on 30.09.2013
|
Name : |
Mr. Virenkumar Kanubhai Patel |
|
Designation : |
Director |
|
Address : |
17, Ambica Co- Operative Society, Akash Vihar, Opposite Gunjan Cinema,
GIDC, Vapi-396 195, Gujarat, India |
|
Date of Birth/Age : |
14.06.1982 |
|
Date of Appointment : |
08.01.2010 |
|
DIN No.: |
02869825 |
|
|
|
|
Name : |
Mr. Ronak Kanubhai Patel |
|
Designation : |
Director |
|
Address : |
17, Ambica Co- Operative Society, Akash Vihar, Opposite Gunjan Cinema,
GIDC, Vapi-396 195, Gujarat, India |
|
Date of Birth/Age : |
31.05.1985 |
|
Date of Appointment : |
08.01.2010 |
|
DIN No.: |
02869845 |
|
|
|
|
Name : |
Mr. Kanubhai Manilal Patel |
|
Designation : |
Additional Director |
|
Address : |
17, Ambica Co- Operative Society, Akash Vihar, Opposite Gunjan Cinema,
GIDC, Vapi-396 195, Gujarat, India |
|
Date of Birth/Age : |
01.06.1957 |
|
Date of Appointment : |
30.03.2013 |
|
DIN No.: |
00094015 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2013
|
Names of Shareholders |
|
No. of Shares |
|
Virenkumar Kanubhai Patel |
|
103000 |
|
Ronak Kanubhai Patel |
|
85000 |
|
Kanubhai Manilal Patel |
|
90000 |
|
Total |
|
278000 |
As on 30.09.2013
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Trader of Dental Equipments and its parts. |
|
|
|
|
Products : |
Manufacturing
Products:- ·
Multi
programmable Dental Chair Unit ·
Dental
oil-free Compressor ·
Dental
Kirlosker Compressor ·
Dental
U.V. Cabinet Trading Products:- ·
Dental
Autoclave ·
Dental
Intraoral X-ray Unit ·
Dental
Scalar ·
Dental
Light Cure Unit etc. Import Products:- ·
Dental
Chair Spare Parts ·
Dental
Autoclave ·
Dental
Intra Oral Camera |
|
|
|
|
Imports : |
|
|
Products : |
Raw Materials |
|
Countries : |
China |
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Terms : |
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|
Selling : |
Cash / Credit |
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|
|
|
Purchasing : |
Cash / Credit |
GENERAL INFORMATION
|
Customers : |
End Users |
|
|
|
|
No. of Employees : |
50 (Approximately) |
|
|
|
|
Bankers : |
Indian Overseas Bank, G11 To G14, Unique Metropolis,
Opposite Sun Divine Flat, Lamda Research Centre Road, Gota, Ahmedabad -
382481, Gujarat, India |
|
|
|
|
Banking
Relations : |
--- |
|
|
|
|
Auditors : |
|
|
Name : |
Minesh Mehta and Company Chartered Accountants |
|
Address : |
212, Sahajanand College, Behind Bhagwati Chambers, C. G. Road,
Ahmedabad – 380015, Gujarat, India |
|
PAN No.: |
AQAPM1289P |
CAPITAL STRUCTURE
As on 30.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
800000 |
Equity Shares |
Rs.10/- each |
Rs.8.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
278000 |
Equity Shares |
Rs.10/- each |
Rs.2.780
Millions |
|
|
|
|
|
As
on 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
20000 |
Equity shares |
Rs.10/- each |
Rs.0.200 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
20000 |
Equity shares |
Rs.10/- each |
Rs.0.200 Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
0.200 |
0.200 |
0.200 |
|
(b) Reserves & Surplus |
0.761 |
0.141 |
0.000 |
|
(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) |
0.961 |
0.341 |
0.200 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
3.739 |
6.595 |
5.054 |
|
(b) Deferred tax liabilities (Net) |
0.002 |
0.000 |
0.000 |
|
(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) |
3.741 |
6.595 |
5.054 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade payables |
0.258 |
0.179 |
1.293 |
|
(c) Other current
liabilities |
0.572 |
0.000 |
0.000 |
|
(d) Short-term provisions |
1.742 |
0.151 |
0.065 |
|
Total Current Liabilities (4) |
2.572 |
0.330 |
1.358 |
|
|
|
|
|
|
TOTAL |
7.274 |
7.266 |
6.612 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
1.120 |
1.288 |
1.054 |
|
(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 |
0.039 |
0.025 |
|
(c) Deferred tax assets (net) |
0.000 |
0.004 |
0.000 |
|
(d) Long-term Loan and Advances |
0.000 |
0.000 |
0.000 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.072 |
|
Total Non-Current Assets |
1.120 |
1.331 |
1.151 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
4.806 |
3.224 |
3.485 |
|
(c) Trade receivables |
0.993 |
0.889 |
0.516 |
|
(d) Cash and cash
equivalents |
0.123 |
1.759 |
1.241 |
|
(e) Short-term loans and
advances |
0.219 |
0.046 |
0.219 |
|
(f) Other current assets |
0.013 |
0.017 |
0.000 |
|
Total Current Assets |
6.154 |
5.935 |
5.461 |
|
|
|
|
|
|
TOTAL |
7.274 |
7.266 |
6.612 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
13.608 |
7.075 |
4.506 |
|
|
|
Other Income |
0.000 |
0.000 |
0.001 |
|
|
|
TOTAL (A) |
13.608 |
7.075 |
4.507 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
|
|
5.527 |
3.818 |
|
|
|
Employee benefits Expenses |
|
0.175 |
0.137 |
|
|
|
Administrative and Others Expenses |
|
0.945 |
0.400 |
|
|
|
TOTAL (B) |
12.703 |
6.647 |
4.355 |
|
|
|
(Including
Financial and Depreciation Expenses) |
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
|
0.428 |
0.152 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
|
0.016 |
0.007 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
|
0.412 |
0.145 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
|
0.174 |
0.114 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
0.905 |
0.238 |
0.031 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
0.285 |
0.042 |
0.006 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
0.620 |
0.196 |
0.025 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
0.141 |
(0.055) |
(0.080) |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
0.761 |
0.141 |
(0.055) |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
31.00 |
9.80 |
1.23 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
4.56
|
2.77 |
0.55 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
6.65
|
3.36 |
0.69 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
12.44
|
3.30 |
0.47 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.94
|
0.70 |
0.16 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
3.89
|
19.34 |
25.27 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.39
|
17.98 |
4.02 |
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 |
No |
|
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 |
No |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
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 |
No |
NOTE:
Registered office of the company has been shifted from
C-35/412, Shrinath Apartment, Near Vyaswadi, New Wadaj, Ahmedabad-380 013,
Gujarat, India to the present address w.e.f. 19.05.2010
UNSECURED LOAN
(Rs.
In Millions)
|
Particular |
As
on 31.03.2013 |
As
on 31.03.2012 |
|
Long Term
Borrowings |
|
|
|
From Director and Their Relatives |
3.739 |
6.595 |
|
Total |
3.739 |
6.595 |
|
|
|
|
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10460607 |
12/11/2013 |
500,000.00 |
INDIAN OVERSEAS BANK |
G11 TO G14, UNIQUE METROPOLIS, OPPOSITE. SUN DIVINE FLAT, LAMDA RESEARCH CENTRE ROAD, GOTA, AHMEDABAD, GUJARAT - 382481, INDIA |
B89703573 |
|
2 |
10448557 |
26/08/2013 |
36,000,000.00 |
INDIAN OVERSEAS BANK |
G11 TO G14, UNIQUE METROPOLIS, OPPOSITE. SUN DIVINE FLAT, LAMDA RESEARCH CENTRE ROAD, GOTA, AHMEDABAD, GUJARAT - 382481, INDIA |
B84784909 |
|
3 |
10448554 |
23/08/2013 |
36,000,000.00 |
INDIAN OVERSEAS BANK |
G11 TO G14, UNIQUE METROPOLIS, OPPOSITE. SUN DIVINE FLAT, LAMDA RESEARCH CENTRE ROAD, GOTA, AHMEDABAD, GUJARAT - 382481, INDIA |
B84783901 |
* Date of charge modification
FIXED ASSETS
·
Computer, Software and
Printer
·
Plant and Machinery
·
Factory construction
·
Furniture
·
Vehicles
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No exist to suggest that subject is or was
the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.18 |
|
|
1 |
Rs.102.31 |
|
Euro |
1 |
Rs.84.50 |
INFORMATION DETAILS
|
Information
Gathered by : |
PLK |
|
|
|
|
Report Prepared
by : |
NTH |
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 |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--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.