MIRA INFORM REPORT
|
Report Date : |
17.06.2014 |
IDENTIFICATION DETAILS
|
Name : |
ACCELYST SOLUTIONS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Unit No. 601, Wing A, 6th Floor, Floral Deck Plaza, Central
MIDC Road, Andheri (East), Mumbai – 400050, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
29.07.2008 |
|
|
|
|
Com. Reg. No.: |
11-185202 |
|
|
|
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Capital
Investment / Paid-up Capital : |
Rs.0.100 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U72900MH2008PTC185202 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMA35940C |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAHCA2192H |
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|
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|
Legal Form : |
Private Limited Liability Company |
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|
|
|
Line of Business
: |
Subject is engaged in providing sales promotion techniques, solutions
and services through internet, web and on-line electronic media. |
|
|
|
|
No. of Employees
: |
80 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca (14) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Moderate |
|
|
|
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Payment Behaviour : |
Slow |
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|
|
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Litigation : |
Clear |
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|
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Comments : |
Subject is a subsidiary of ACCELYST PTE. LIMITED. It is an established
company having moderate track record. The company has incurred huge accumulated losses which has eroded
networth of the company. Profitability of the company is under pressure. Business is active. Payment terms are slow. The company can be considered for business dealings on safe and 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
US investment bank
Goldman Sachs has upgraded its outlook on Indian markets as it expects
positive impact of the election cycle.
India’s economy may
grow 4.7 % in the current financial year, lower than the official estimate of
4.9 %, Fitch Rating said. The global rating agency expects the economy to pick
up in the next two financial years.
Global ratings
agency Standard & Poor said increasing focus by India Inc on lowering debt
is likely to improve their credit profiles.
Singapore (1.1
million Indian tourists in 2012), Thailand (one million), the United Arab
Emirates ().98 million) and Malaysia ().82 million) emerged as the preferred
holidays hotspots for Indians. The total figure is expected to increase to 1.93
million by 2017, according to the latest Eurmonitor international report.
There is a $29.34 bn
outward foreign direct investment by domestic companies between April and
January of 2013/14 which has seen some signs of recovery according to a Care
Ratings report.
There are 264 number
of new companies being set up every day on average during 2014. Most of them
are registered in Mumbai. India had 1.38 million registered companies at the
end of January, 2014.
Twitter like
messaging service Weibo Corporation has filed to raise $ 500 million via a US initial
public offering. Alibaba, which owns a stake in Weibo is expected to raise
about $ 15 billion New York this year in the highest profile Internet IPO since
Facebook’s in 2012.
Bharti Airtel has
raised Rs.2,453.2 crore (350 million Swiss Francs) by selling six-year bonds at
a coupon rate of three per cent and maturing in 2020. This is the largest ever
bond offering by an Indian company in Swiss Francs. Bharat Petroleum
Corporation raised 175 million Swiss Francs by selling five year bonds at 2.98
% coupon rate in February.
Indian Oil
Corporation plans to invest Rs 7650 crore in setting up a petrochemical complex
at its almost complete Paradip refinery in Odhisha in three to four years. The
company board is set to consider the setting up of a 700000 tonne per annum
polypropylene plant at an estimated cost at Rs.3150 crore.
Global chief
information officers at gathering in Bangalore in April to meet Indian startups
at an event called Tech50 Watchout for Little Eye Labs-Facebook type deals in the
making.
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. Kunal Kamtekar |
|
Designation : |
Accounts Manager |
|
Contact No.: |
91-9867582306 |
|
Date : |
16.06.2014 |
LOCATIONS
|
Registered Office : |
Unit No. 601, Wing A, 6th Floor, Floral Deck Plaza, Central
MIDC Road, Andheri (East), Mumbai – 400050, Maharashtra, India |
|
Tel. No.: |
91-22-40363031 / 40770600 |
|
Mobile No.: |
91-9867582306 (Mr. Kunal Kamtekar) |
|
Fax No.: |
91-22-28291176 |
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E-Mail : |
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|
Website : |
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|
|
|
|
Corporate Office : |
Unit No. 2A, 2nd Floor, Vaibhav Chambers, Bandra Kurla Compex, Bandra (East),
Mumbai – 400051, Maharashtra, India |
DIRECTORS
AS ON 27.09.2013
|
Name : |
Mr. Sandeep Tandon |
|
Designation : |
Director |
|
Address : |
37, Merry Niketan, Mount Mary Road, Bandra (West), Mumbai – 400050,
Maharashtra, India |
|
Date of Birth/Age : |
17.05.1969 |
|
Date of Appointment : |
29.07.2008 |
|
DIN No.: |
00054553 |
|
|
|
|
Name : |
Mr. Kunal Naresh Shah |
|
Designation : |
Whole-time director |
|
Address : |
9, Vitthaldas Road , Bulakhi Das Building , 3rd Floor , Princess Street, Mumbai – 400002,
Maharashtra, India |
|
Date of Birth/Age : |
30.05.1979 |
|
Date of Appointment : |
29.07.2008 |
|
DIN No.: |
01653176 |
KEY EXECUTIVES
|
Name : |
Mr. Kunal Kamtekar |
|
Designation : |
Accounts Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 27.09.2013
|
Names of Shareholders |
|
No. of Shares |
|
|
|
|
|
Accelyst Pte. Limited, Singapore |
|
9999 |
|
Tancom Electronics Private Limited, India |
|
1 |
|
|
|
|
|
Total |
|
10000 |
AS ON 27.09.2013
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s),
Non-resident Indian(s) or Overseas Corporate bodies or Others |
99.99 |
|
Bodies corporate |
0.01 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in providing sales promotion techniques, solutions
and services through internet, web and on-line electronic media. |
|
|
|
|
Terms : |
|
|
Selling : |
Cheque and Online |
|
|
|
|
Purchasing : |
Online |
GENERAL INFORMATION
|
No. of Employees : |
80 (Approximately) |
|
|
|
|
Bankers : |
Kotak Mahindra Bank, Andheri (East), Mumbai, Maharashtra, India |
|
|
|
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Banking
Relations : |
-- |
|
|
|
|
Financial
Institutions : |
SVB India Finance
Private Limited, 84, Free Press House, 215, Nariman Point, Mumbai - 400021,
Maharashtra, India |
|
|
|
|
Auditors : |
|
|
Name : |
Deloitte Haskins and Sells Chartered Accountants |
|
Address : |
Tower 3, 27th, 32nd Floor, India Bulls Finance Centr, Elphinstone Mill
Compound S. B. Marg, Elphinstone, Mumbai – 400013, Maharashtra, India |
|
PAN No.: |
AACFD4815A |
|
Tel. No.: |
91-22-61854000 |
|
Fax No.: |
91-22-61854501 / 4601 |
|
|
|
|
Holding Company : |
Accelyst Pte. Limited, Singapore |
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|
|
|
Company over which KMP have a significant influences : |
|
CAPITAL STRUCTURE
AS ON 27.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
50,000 |
Equity Shares |
Rs.10/- each |
Rs.0.500 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10,000 |
Equity Shares |
Rs.10/- each |
Rs. 0.100 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 |
0.100 |
0.100 |
0.100 |
|
(b) Reserves & Surplus |
(181.600) |
(61.853) |
(3.626) |
|
(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) |
(181.500) |
(61.753) |
(3.526) |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
265.444 |
184.969 |
0.000 |
|
(b) Deferred tax liabilities
(Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
2.160 |
0.707 |
0.000 |
|
Total
Non-current Liabilities (3) |
267.604 |
185.676 |
0.000 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade payables |
20.119 |
25.214 |
15.118 |
|
(c) Other current liabilities |
1.325 |
2.981 |
0.332 |
|
(d) Short-term provisions |
0.031 |
0.007 |
0.000 |
|
Total
Current Liabilities (4) |
21.475 |
28.202 |
15.450 |
|
|
|
|
|
|
TOTAL |
107.579 |
152.125 |
11.924 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
6.301 |
5.097 |
0.097 |
|
(ii) Intangible Assets |
10.653 |
2.715 |
0.437 |
|
(iii) Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
(iv) Intangible assets under
development |
0.000 |
9.540 |
0.000 |
|
(b) Non-current Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
4.747 |
4.703 |
0.243 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
21.701 |
22.055 |
0.777 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
0.000 |
0.000 |
0.000 |
|
(c) Trade receivables |
2.980 |
3.676 |
2.253 |
|
(d) Cash and cash equivalents |
47.253 |
101.086 |
3.501 |
|
(e) Short-term loans and
advances |
35.389 |
24.842 |
5.393 |
|
(f) Other current assets |
0.256 |
0.466 |
0.000 |
|
Total
Current Assets |
85.878 |
130.070 |
11.147 |
|
|
|
|
|
|
TOTAL |
107.579 |
152.125 |
11.924 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
SALES |
|
|
|
|
|
Income |
1100.000 (Approximately) |
NA |
NA |
|
|
Other Income |
NA |
NA |
NA |
|
|
TOTAL
|
NA |
NA |
NA |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
TOTAL
|
NA |
NA |
NA |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
(119.747) |
(58.227) |
0.412 |
|
|
|
|
|
|
|
Less |
TAX |
0.000 |
0.000 |
0.074 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
(119.747) |
(58.227) |
0.338 |
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
(61.853) |
(3.626) |
(3.964) |
|
|
|
|
|
|
|
|
Balance
Carried to the B/S |
(181.600) |
(61.853) |
(3.626) |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
(11974.69) |
(5822.69) |
33.82 |
|
Particulars |
|
|
31.03.2014 |
|
Sales Turnover (Approximately) |
|
|
1150.000 |
The above information has been parted by Mr. Kunal Kamtekar (Accounts
Manager).
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets) |
(%) |
(111.31) |
(40.84) |
3.46 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.660 |
0.943 |
(0.117) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt
/Networth) |
|
(1.46) |
(2.99) |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current
Asset/Current Liability) |
|
4.00 |
4.61 |
0.72 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Share Capital |
0.100 |
0.100 |
0.100 |
|
Reserves & Surplus |
(3.626) |
(61.853) |
(181.600) |
|
Net
worth |
(3.526) |
(61.753) |
(181.500) |
|
|
|
|
|
|
long-term borrowings |
0.000 |
184.969 |
265.444 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Total
borrowings |
0.000 |
184.969 |
265.444 |
|
Debt/Equity
ratio |
0.000 |
(2.995) |
(1.463) |
LOCAL AGENCY FURTHER INFORMATION
DETAILS OF CURRENT
MATURITIES OF LONG TERM DEBTS: NOT AVAILABLE
|
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 two 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 |
No |
|
19] |
Payments
terms |
Yes |
|
20] |
Export
/ Import details (if applicable) |
No |
|
21] |
Market
information |
-- |
|
22] |
Litigations
that the firm / promoter involved in |
-- |
|
23] |
Banking
Details |
Yes |
|
24] |
Banking
facility details |
Yes |
|
25] |
Conduct
of the banking account |
-- |
|
26] |
Buyer
visit details |
-- |
|
27] |
Financials,
if provided |
Yes |
|
28] |
Incorporation
details, if applicable |
Yes |
|
29] |
Last
accounts filed at ROC |
Yes |
|
30] |
Major
Shareholders, if available |
Yes |
|
31] |
Date
of Birth of Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN
of Proprietor/Partner/Director, if available |
No |
|
33] |
Voter
ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External
Agency Rating, if available |
No |
VIEW INDEX OF
CHARGES
|
S.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10435882 |
03/07/2013 |
50,000,000.00 |
SVB INDIA FINANCE PRIVATE LIMITED |
84, FREE PRESS HOUSE, 215, NARIMAN POINT, MUMBAI
- 400021, MAHARASHTRA, INDIA |
B79216347 |
UNSECURED LOANS
|
PARTICULAR |
31.03.2013 (Rs.
in Millions) |
31.03.2012 (Rs.
in Millions) |
|
LONG TERM
BORROWINGS |
|
|
|
1692902, 7.5 % Non Cumulative Compulsorily Convertible Debentures (CCD) |
174.369 |
0.000 |
|
From Holding Company – Towards Issue of Debentures |
80.475 |
174.369 |
|
Loans and advances from related parties |
10.600 |
10.600 |
|
|
|
|
|
Total |
265.444 |
184.969 |
|
|
|
|
|
Note : LONG TERM BORROWINGS Note 1 : Non
Cumulative Compulsorily Convertible Debentures Each CCD issued to the Holding Company, when fully converted, In
accordance with the terms, entities the holder to 1 equity share of Rs. 10 /-
each. The terms of CCD shall be a maximum of 10 years from the date of
allotment, i.e. April 24, 2012. The CCD will bear an interest of 7.5 % per annum from the fourth year
onwards. Note 2 : Holding Company – Towards Issue of Debentures Subsequent to year end, the company has issued 670625 CCD’s at Rs. 120
/- per CCD to Accelyst Pte. Limited, the Holding Company with the terms
similar to the earlier CCD’s issued ass aforesaid. Note 3 : Loans and advances from related parties Loans from related parties (including
interest) are repayable after 5 years. Interest rate on loans is 14% per annum until October 2011 and
subsequently no interest is payable on the loans. |
||
ABOUT THE COMPANY
The company was incorporated in India on 29th July, 2008 with
the main objective provide sales promotion techniques, solutions and services
to retailers and manufacturers in India and abroad, through internet, web and
on-line electronic media. The company’s operations also involve the recharge of
prepaid mobile, direct to home (DTH) and data cards.
FIXED ASSETES:
·
Leasehold Improvements
·
Computer
·
Furniture and Fixtures
·
Office Equipments
·
Software
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.60.01 |
|
|
1 |
Rs.101.99 |
|
Euro |
1 |
Rs.81.25 |
INFORMATION DETAILS
|
Information
Gathered by : |
HTL |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
SNT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
2 |
|
PAID-UP CAPITAL |
1~10 |
2 |
|
OPERATING SCALE |
1~10 |
2 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
2 |
|
--PROFITABILIRY |
1~10 |
-- |
|
--LIQUIDITY |
1~10 |
2 |
|
--LEVERAGE |
1~10 |
2 |
|
--RESERVES |
1~10 |
-- |
|
--CREDIT LINES |
1~10 |
2 |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
14 |
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.