MIRA INFORM REPORT
|
Report Date : |
25.01.2014 |
IDENTIFICATION DETAILS
|
Name : |
LE MERITE EXPORTS PRIVATE LIMITED (w.e.f. 02.09.2004) |
|
|
|
|
Formerly Known
As : |
DIDWANIYA YARN EXPORTS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
B1-104D, Boomerang, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
24.12.2003 |
|
|
|
|
Com. Reg. No.: |
11-143645 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.9.991 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U17111MH2003PTC143645 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Trader and Exporter of all types of Cotton Yarn and Raw Cotton. |
|
|
|
|
No. of Employees
: |
20 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (46) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 190000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a well-established company having a satisfactory track
record. Management has failed to file the latest financial of 2013, with the government
department, whereas despite filing the financial statement if 2012 the same
are not available with us. As per information available from indirect source i.e. CRISIL, there
appears significant improvement in the sales revenue as well as net profitability
during 2012 on account of receipt of duty entitlement pass book benefit
received during the year under review. The overall position seems to be
decent. Trade relations are fair. Business is active. Payment terms are
reported as usually correct. In view of promoters extensive industry experience and subjects
established position in the yarn exports market, 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.
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.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long term rating: BBB- |
|
Rating Explanation |
Moderate degree of safety and moderate credit risk. |
|
Date |
15.03.2013 |
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
31-03-2012.
INFORMATION PARTED BY (GENERAL DETAILS)
|
Name : |
Mr. Nikhil |
|
Designation : |
Accounts Executive |
|
Contact No.: |
91-22-28579208 |
|
Date : |
21.01.2014 |
LOCATIONS
|
Registered
Office : |
B1-104D, Boomerang, Chandivali Farm Road, Powai, Andheri (East),
Mumbai – 400072, Maharashtra, India |
|
Tel. No.: |
91-22-28579208 |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Website : |
|
|
Location: |
Owned |
|
|
|
|
Branch Office : |
Lath Complex, Shah Bazar, Burhanpur - 450331, Madhya Pradesh,
India |
|
Tel. No.: |
91-7325-53546 / 51007 |
|
Fax No.: |
91-7325-55711 |
|
|
|
|
Overseas Office
: |
China Office: Suzhou Chenghao Company Limited, Room No. 3088, 3rd Floor, |
|
Tel. No.: |
86-512-65857762 / 67071726 |
|
Fax No.: |
86-512-66936205 |
/DIRECTORS
As on 29.09.2012
|
Name : |
Mr. Abhishek Umashankar Lath |
|
Designation : |
Director |
|
Address : |
|
|
Date of Birth/Age : |
28.03.1981 |
|
Date of Appointment : |
07.08.2004 |
|
Din No.: |
00331675 |
|
|
|
|
Name : |
Mrs. Asha Umashankar Lath |
|
Designation : |
Director |
|
Address : |
|
|
Date of Birth/Age : |
26.07.1959 |
|
Date of Appointment : |
07.08.2004 |
|
Din No.: |
02899120 |
KEY EXECUTIVES
|
Name : |
Mr. Nikhil |
|
Designation : |
Accounts Executive |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 29.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
Abhishek Umashankar Lath |
|
525000 |
|
Umashankar Narhmal Lath |
|
340500 |
|
Punit Umashankar Lath |
|
328500 |
|
Asha Umashankar Lath |
|
355000 |
|
Meghal Jawahar Shah |
|
100 |
|
Shweta Lath |
|
159000 |
|
Total |
|
1708100 |
As on 29.09.2012
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 : |
Trader and Exporter of all types of Cotton Yarn and Raw Cotton. |
||||||
|
|
|
||||||
|
Products : |
|
||||||
|
|
|
||||||
|
Exports : |
|
||||||
|
Products : |
Finished Goods |
||||||
|
Countries : |
Gulf Countries |
||||||
|
|
|
||||||
|
Terms : |
|
||||||
|
Selling : |
L/C and Credit |
||||||
|
|
|
||||||
|
Purchasing : |
L/C and Credit |
GENERAL INFORMATION
|
Customers : |
End Users |
|||||||||||||||
|
|
|
|||||||||||||||
|
No. of Employees : |
20 (Approximately) |
|||||||||||||||
|
|
|
|||||||||||||||
|
Bankers : |
· Deutsche Bank AG, Sidrah , Plot No 110, S.V. Road, Khar (West), Mumbai - 400052, Maharashtra, India ·
State Bank of India, Empire House ,Fort
Branch, 214, D N Road, Fort, Mumbai - 400001, Maharashtra, India Tel No: 91-22-22078415 |
|||||||||||||||
|
|
|
|||||||||||||||
|
Facilities : |
(Rs.
In Millions)
|
|
|
|
|
Banking
Relations : |
|
|
|
|
|
Auditors : |
|
|
Name : |
N.B. Jhunjhunwala and Company Chartered Accountants |
|
Address : |
306,Corporate Avenue Sonawala Lane, Goregaon (East) Mumbai – 400063,
Maharashtra, India |
|
Tel. No.: |
91-22-26852202 |
|
E-Mail : |
|
|
Pan No.: |
AACPJ3970A |
|
|
|
|
Associates : |
· Punit Textiles · Abhishekh Textiles |
CAPITAL STRUCTURE
As on 29.09.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5000000 |
Equity Shares |
Rs.10/- each |
Rs.50.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1708100 |
Equity Shares |
Rs.10/- each |
Rs.17.081
Millions |
|
|
|
|
|
As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5000000 |
Equity Shares |
Rs.10/- each |
Rs.50.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
999100 |
Equity Shares |
Rs.10/- each |
Rs.9.991
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
9.991 |
7.500 |
2.500 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
17.210 |
3.744 |
1.304 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
27.201 |
11.244 |
3.804 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
37.142 |
37.109 |
19.874 |
|
|
2] Unsecured Loans |
14.658 |
4.655 |
3.430 |
|
|
TOTAL BORROWING |
51.800 |
41.764 |
23.304 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
79.001 |
53.008 |
27.108 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
1.198 |
1.361 |
1.483 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
4.952
|
4.801 |
1.922 |
|
|
Sundry Debtors |
43.457
|
44.899 |
21.592 |
|
|
Cash & Bank Balances |
4.564
|
0.586 |
1.733 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
46.561
|
14.871 |
5.492 |
|
Total
Current Assets |
99.534
|
65.157 |
30.739 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
5.970
|
6.826 |
2.079 |
|
|
Other Current Liabilities |
8.361
|
5.521 |
2.676 |
|
|
Provisions |
7.400
|
1.163 |
0.492 |
|
Total
Current Liabilities |
21.731
|
13.510 |
5.247 |
|
|
Net Current Assets |
77.803
|
51.647 |
25.492 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.133 |
|
|
|
|
|
|
|
|
TOTAL |
79.001 |
53.008 |
27.108 |
|
PROFIT & LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
645.137 |
367.255 |
160.650 |
|
|
|
Other Income |
10.952 |
25.239 |
6.624 |
|
|
|
TOTAL |
656.089 |
392.494 |
167.274 |
|
|
|
|
|
|
|
|
|
EXPENSES |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Administrative Expenses |
634.982 |
388.680 |
165.639 |
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
634.982 |
388.680 |
165.639 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
21.107 |
3.814 |
1.635 |
|
|
|
|
|
|
|
|
|
|
DEPRECIATION/
AMORTISATION |
0.226 |
0.235 |
0.045 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
20.882 |
3.579 |
1.456 |
|
|
|
|
|
|
|
|
|
|
TAX |
7.416 |
1.140 |
0.539 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
13.466 |
2.439 |
0.917 |
|
|
|
|
|
|
|
|
|
|
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
3.744 |
1.305 |
0.388 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
17.210 |
3.744 |
1.305 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
628.657 |
313.258 |
128.133 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
17.17 |
8.79 |
9.29 |
|
|
Particulars |
|
|
31.03.2012 |
|
Net Sales |
|
|
1220.000 |
|
|
|
|
|
|
Profit After Tax |
|
|
32.800 |
Note: Above information
has been taken from indirect source i.e CRISIL
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
2.05 |
0.62 |
0.54 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
3.24 |
0.97 |
0.91 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
20.07 |
5.38 |
4.52 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.77 |
0.32 |
0.38 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/ Debt) |
|
1.90 |
3.71 |
6.13 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
4.58 |
4.82 |
5.86 |
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 |
Yes |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact
person |
Yes |
|
11] |
Turnover of firm for last
four years |
Yes |
|
12] |
Profitability for last
four 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 |
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 |
No |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of
Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
NOTE: Registered office of the company has been shifted from 104, Marwah Complex 4, Marwa Estate, Saki Vihar Road, Saki Naka, Andheri (East), Mumbai - 400072, Maharashtra, India to the present address w.e.f 05.06.2013
OPERATIONS
During the year the company has achieved sales Rs.645.137 Millions
(Rs.367.255 Millions). The company earned profit after depreciation of
Rs.20.882 Millions (Rs.3.579 Millions). The directors are hopeful for achieving
satisfactory results during the current financial year.
UNSECURED LOANS
Rs.
In Millions
|
Particular |
As
on 31.03.2011 |
As
on 31.03.2010 |
|
Form Directors |
0.000 |
2.413 |
|
Form Shareholder and Directors Relatives |
1.953 |
2.242 |
|
From Others |
7.095 |
0.000 |
|
From Bank |
5.610 |
0.000 |
|
Total |
14.658 |
4.655 |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
10439852 |
05/07/2013 |
400,000,000.00 |
UCO BANK |
FLAGSHIP
CORPORATE BRANCH, DR. D N ROAD, FORT, MUMBAI, MAHARASHTRA - 400001, INDIA |
B80787047 |
|
2 |
10372474 |
26/07/2012 |
14,600,000.00 |
DEUTSCHE BANK AG |
SIDRAH , PLOT NO
110, S.V. ROAD, KHAR (W), MUMBAI, MAHARASHTRA - 400052, INDIA |
B56357973 |
|
3 |
10030431 |
12/12/2011 * |
75,000,000.00 |
STATE BANK OF INDIA |
EMPIRE HOUSE,
214 DN ROAD FORT, MUMBAI, MAHARASHTRA - 400001, INDIA |
B27178706 |
* Date of charge modification
Fixed Assets:
- Office Equipment’s
- Motor Car
- Computers
- Furniture and Fixtures
- Electrical Fittings
- Air Conditioner
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.103.38 |
|
Euro |
1 |
Rs.85.09 |
INFORMATION DETAILS
|
Information
Gathered by : |
PLK |
|
|
|
|
Report Prepared
by : |
KVT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
4 |
|
--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 |
|
46 |
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.