MIRA INFORM REPORT
|
Report Date : |
17.06.2014 |
IDENTIFICATION DETAILS
|
Name : |
SCA HYGIENE PRODUCTS INDIA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Rajan House, 1st Floor, Appasaheb Marathe Marg, Prabhadevi,
Mumbai – 400025, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
28.05.2012 |
|
|
|
|
Com. Reg. No.: |
11-231579 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs. 9.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U17253MH2012FTC231579 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMS74505E |
|
|
|
|
PAN No.: [Permanent Account No.] |
AARCS7221F |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Importing, Exporting, Manufacturing,
Producing, Marketing and generally dealing in baby care products, feminine
care products, incontinence care products, tissue products etc. |
|
|
|
|
No. of Employees
: |
Information declined by the management. |
RATING & COMMENTS
|
MIRA’s Rating : |
B (29) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 460000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a subsidiary of “SCA GROUP HOLDING – B.V. NETHERLANDS”. It
is a relatively new company having moderate track. The company has recently commenced its business operations in India and
is in its phase of business development. The parent company of the subject is a globally well-established
entity with established brands and has forayed into Indian market through its
subsidiary i.e. the subject, primarily with its four most renowed brands such
as Libero, Tempo, Tena and Tork. Management has reported a loss from its first year of business
operations, but enjoy’s a firm support from its promoters. Trade relations are improving. Business is active. Payment terms are
reported as slow but correct. In view of established brand name in the international market, the
company can be considered for business dealings with slight 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 – March 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
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
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 DENIED BY
|
Name : |
Mr. Rohan Sardesai |
|
Designation : |
Accountant |
|
Tel. No.: |
91-22-49203500 |
|
Date : |
16.06.2014 |
LOCATIONS
|
Registered Office : |
Rajan House, 1st Floor, Appasaheb Marathe Marg, Prabhadevi,
Mumbai – 400025, Maharashtra, India |
|
Tel. No.: |
91-22-49203500 |
|
Fax No.: |
91-22-49203505 |
|
E-Mail : |
|
|
Website : |
DIRECTORS
AS ON 24.09.2013
|
Name : |
Mr. Darius Erachshaw Udwadia |
|
Designation : |
Director |
|
Address : |
Empress Court 142, M - Karve
Road, Mumbai – 400020, Maharashtra, India |
|
Date of Birth/Age : |
27.09.1939 |
|
Date of Appointment : |
28.05.2012 |
|
DIN No. : |
00009755 |
|
|
|
|
Name : |
Mr. Milind Ramchandra Pingle |
|
Designation : |
Managing director |
|
Address : |
A 203, Kings Corner Building, Opposite Victoria Church Road,
Mahim, Mumbai – 400016, Maharashtra,
India |
|
Date of Birth/Age : |
28.08.1965 |
|
Date of Appointment : |
01.07.2013 |
|
DIN No. : |
02139018 |
|
|
|
|
Name : |
Mr. Anthony Gaston Richard Van Luchem |
|
Designation : |
Director |
|
Address : |
Reiherweg – 6, 81827 Munchen, Munich – 81827, Germany |
|
Date of Birth/Age : |
07.02.1966 |
|
Date of Appointment : |
28.05.2012 |
|
DIN No. : |
05265032 |
KEY EXECUTIVES
|
Name : |
Ms. Anamika Gupta |
|
Designation : |
Secretary |
|
Address : |
Lane Opp Good Shephard Church, 4 Bungalows, Andheri (West), Mumbai –
400053, Maharashtra, India |
|
Date of Birth/Age : |
26.11.1979 |
|
Date of Appointment : |
28.11.2013 |
|
PAN No.: |
AGYPG2203M |
|
Name : |
Mr. Rohan Sardesai |
|
Designation : |
Accountant |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 24.09.2013
|
Names of Shareholders |
|
No. of Shares |
|
SCA Hygiene Holding AB, Sweden |
|
1 |
|
SCA Group Holding BV, Netherlands |
|
5260000 |
|
|
|
|
|
Total |
|
5260001 |
AS ON 16.12.2013
|
Names of Allottee |
|
No. of Shares |
|
|
|
|
|
SCA Group Holding BV, Netherlands |
|
3950000 |
|
|
|
|
|
Total |
|
3950000 |
AS ON 24.09.2013
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 |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Importing, Exporting, Manufacturing,
Producing, Marketing and generally dealing in baby care products, feminine
care products, incontinence care products, tissue products etc. |
GENERAL INFORMATION
|
No. of Employees : |
Information declined by the management. |
|
|
|
|
Bankers : |
Not Divulged |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Price Waterhouse and Company (Approximately) |
|
Address : |
5th Floor, Tower "D", The Millenia, 1 and 2 Murphy Road,Ulsoor, Bangalore – 560008, Karnataka, India |
|
Tel. No.: |
AADFP9359C |
|
|
|
|
Holding Company : |
SCA Group Holding BV, Netherlands |
CAPITAL STRUCTURE
AFTER 24.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
15,000,000 |
Equity Shares |
Rs.10/- each |
Rs. 150.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
9,210,001 |
Equity Shares |
Rs.10/- each |
Rs. 92.100 Millions |
|
|
|
|
|
AS ON 24.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
15,000,000 |
Equity Shares |
Rs.10/- each |
Rs. 150.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5,260,001 |
Equity Shares |
Rs.10/- each |
Rs. 52.600 Millions |
|
|
|
|
|
AS ON 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2000000 |
Equity Shares |
Rs.10/- each |
Rs. 20.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
900001 |
Equity Shares |
Rs.10/- each |
Rs. 9.000 Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES
OF FUNDS |
|
|
31.03.2013 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
|
9.000 |
|
(b) Reserves & Surplus |
|
|
(5.174) |
|
(c) Money received against
share warrants |
|
|
0.000 |
|
|
|
|
|
|
(2) Share Application money
pending allotment |
|
|
109.999 |
|
Total
Shareholders’ Funds (1) + (2) |
|
|
113.825 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
|
0.000 |
|
(b) Deferred tax liabilities
(Net) |
|
|
0.000 |
|
(c) Other long term
liabilities |
|
|
0.000 |
|
(d) long-term provisions |
|
|
0.000 |
|
Total
Non-current Liabilities (3) |
|
|
0.000 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
|
|
0.000 |
|
(b) Trade payables |
|
|
34.945 |
|
(c) Other current liabilities |
|
|
333.553 |
|
(d) Short-term provisions |
|
|
0.000 |
|
Total
Current Liabilities (4) |
|
|
368.498 |
|
|
|
|
|
|
TOTAL |
|
|
482.323 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
|
5.137 |
|
(ii) Intangible Assets |
|
|
1.878 |
|
(iii) Capital work-in-progress |
|
|
5.036 |
|
(iv) Intangible assets under
development |
|
|
0.000 |
|
(b) Non-current Investments |
|
|
0.000 |
|
(c) Deferred tax assets (net) |
|
|
0.000 |
|
(d) Long-term Loan and Advances |
|
|
7.037 |
|
(e) Other Non-current assets |
|
|
0.000 |
|
Total
Non-Current Assets |
|
|
19.088 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
|
0.000 |
|
(b) Inventories |
|
|
19.661 |
|
(c) Trade receivables |
|
|
0.000 |
|
(d) Cash and cash equivalents |
|
|
439.225 |
|
(e) Short-term loans and
advances |
|
|
2.906 |
|
(f) Other current assets |
|
|
1.443 |
|
Total
Current Assets |
|
|
463.235 |
|
|
|
|
|
|
TOTAL |
|
|
482.323 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
|
31.03.2013 |
|
|
SALES |
|
|
|
|
|
Income |
|
|
NA
|
|
|
Other Income |
|
|
NA |
|
|
TOTAL
|
|
|
NA |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
TOTAL
|
|
|
NA |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
|
|
(86.174) |
|
|
|
|
|
|
|
Less |
TAX |
|
|
0.000 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
|
|
(86.174) |
|
|
|
|
|
|
|
|
EARNINGS
IN FOREIGN CURRENCY |
|
|
NIL |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
|
|
( 95.75) |
KEY RATIOS
|
PARTICULARS |
|
|
|
31.03.2013 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
|
|
(18.05) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
|
|
(0.76) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt
/Networth) |
|
|
|
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
|
|
1.26 |
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 |
No |
|
9] |
Name
of person contacted |
Yes |
|
10] |
Designation
of contact person |
Yes |
|
11] |
Turnover
of firm for last one year |
No |
|
12] |
Profitability
for last one year |
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 |
No |
|
20] |
Export
/ Import details (if applicable) |
No |
|
21] |
Market
information |
-- |
|
22] |
Litigations
that the firm / promoter involved in |
-- |
|
23] |
Banking
Details |
No |
|
24] |
Banking
facility details |
No |
|
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 :
- No Charges Exist for
Company.
- The register address
of the company has been shifted from C/O Udwadia Udeshi and Argus
Partners, Elphinstone House, 1st floor, 17 Murzban Road, Mumbai – 400001,
Maharashtra, India, to the present address w.e.f. 01.09.2012.
OPERATIONS
The company was incorporated on 28.05.2013
with a view to carry on business of importing, exporting, manufacturing,
producing, marketing and generally dealing in baby care products, feminine care
products, incontinence care products, tissue products etc.
This being a first year of the company, the
operations was limit to few transactions and limited activities. The company
has incurred net loss of Rs. 86.174 during the year under consideration.
FUTURE OUTLOOK
The Directors are hopeful of the growth and
the company will achieve better financial performance in the year 2013-2014.
FIXED ASSETES:
·
Furniture and Fixtures
·
Office Equipment
·
Air Conditioner
·
Telecommunication
Equipment
·
Office Equipment
·
Computer
WEBSITE DETAILS
ARTICLE / PRESS RELEASE
SCA launches baby care products in India
MUMBAI, NOVEMBER, 14:
Hygiene and forest products maker SCA has entered the baby-care
market with two brands - Libero and Tempo. It will have a full range of baby
diapers and toiletries.
Cecilia Edebo, Vice-President, Consumer Goods, SCA India, said:
“Our aim is to establish SCA as the preferred supplier of personal hygiene
products in India.”
The company claims that the diaper brand Libero comes with
skin-friendly natural ingredients which are good for a baby’s healthy skin, a
key concern among Indian parents. SCA will provide training to nurses and
doctors at hospitals and clinics with the objective of improving the lives of
mothers and babies. It is also launching a mobile application for pregnant
mothers.
Tempo will be available in the form of box tissue, pocket
handkerchiefs, wet wipes, and hand sanitisers for hand and face hygiene. With
the tissue market in India being at a very nascent stage SCA has the ambition
to shape and lead the Indian tissue market by combining premium quality Tempo
tissue products with insights into local Indian food culture.
Milind Pingle, Managing Director SCA India, added, “Given
India’s large population and the low penetration of hygiene products, we see a
great opportunity to build a local hygiene business.”
SCA INVESTS IN INDIA
Stockholm, September 12, 2013
SCA will invest about SEK 150m in local
production of hygiene products in southwest India. Production at SCA’s own
plant is planned to commence in 2015.
“This investment creates a solid platform for
us to leverage the favorable growth opportunities that exist in the hygiene
products area in India. The investment is in line with our strategy of
strengthening SCA’s presence in emerging markets,” says Jan Johansson,
President and CEO of SCA and continues:
“India’s large population and the low
penetration of hygiene products provide the potential for future growth. The
aim is to introduce SCA’s hygiene products in the Indian market already in the
latter part of 2013.”
The brands that SCA intends to launch in the
Indian market include the world-leading brands TENA, for incontinence products,
and Tork, for Away-From-Home (AFH) tissue. The Libero brand for baby diapers and
baby care products and Tempo for consumer tissue will also be introduced.
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 records 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 : |
NYA |
|
|
|
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
SNT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
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 |
NO |
|
--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 |
|
29 |
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.