MIRA
INFORM REPORT
|
Report Date : |
05.03.2014 |
IDENTIFICATION DETAILS
|
Name : |
DEUGRO PROJECTS ( |
|
|
|
|
Registered
Office : |
608-613, 6th Floor, A-Wing Shrikant Chambers, |
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|
Country : |
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Financials (as
on) : |
31.03.2013 |
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|
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|
Date of
Incorporation : |
25.07.2006 |
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|
|
|
Com. Reg. No.: |
11-163295 |
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|
|
Capital
Investment / Paid-up Capital : |
Rs. 2.500 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U63011MH2006PTC163295 |
|
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|
PAN No.: [Permanent Account No.] |
AACCD4204C |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Providing Freight Forwarding Services. |
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|
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|
No. of Employees
: |
85 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (43) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 260000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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|
Comments : |
Subject is an established company having satisfactory track record. There appears dip in profitability of the company during the financial
year 2013. However, general financial position of the company reported to be
sound and healthy. Trade relations are fair. Business is active. Payment terms are
reported to be slow but correct. The company can be considered for business dealings at usual trade
terms and condition. |
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 – December 1, 2013
|
Country Name |
Previous Rating (30.09.2013) |
Current Rating (01.12.2013) |
|
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
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.
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. Pradeep |
|
Designation : |
Accounts Executive |
|
Contact No.: |
91-22-61532100 |
|
Date : |
04.03.2014 |
LOCATIONS
|
Registered Office : |
608-613, 6th Floor, A-Wing Shrikant Chambers, Sion Trombay
Road, Chembur, Mumbai – 400071, Maharashtra, India |
|
Tel. No.: |
91-22-61532100 |
|
Fax No.: |
91-22-61532106 |
|
E-Mail : |
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|
Website : |
|
|
Location : |
Owned |
|
|
|
|
Branches : |
Located At : ·
Bangalore ·
Chennai ·
Delhi ·
Kochi ·
Mumbai ·
Pune |
DIRECTORS
As on: 30.09.2013
|
Name : |
Mr. Thomas Carl Press |
|
Designation : |
Director |
|
Address : |
Im Graefli 7, 8808, Pfaeffikon, Switzerland |
|
Date of Birth/Age : |
31.03.1969 |
|
Date of Appointment : |
25.07.2006 |
|
DIN No. : |
01295349 |
|
|
|
|
Name : |
Mr. Salim Pallippuram Rajan |
|
Designation : |
Director |
|
Address : |
Pallipuram House 36/44 Chambal Lane Kaloor, Emakulam, Kerala – 682017,
India |
|
Date of Birth/Age : |
11.08.1955 |
|
Date of Appointment : |
01.12.2010 |
|
DIN No. : |
01300076 |
|
|
|
|
Name : |
Mr. Klaus Hugo Wilhelm Strahmann |
|
Designation : |
Director |
|
Address : |
Brandenburger Strasse 15L D – 61118, Bad Vilbel, Germany |
|
Date of Birth/Age : |
28.06.1966 |
|
Date of Appointment : |
17.04.2012 |
|
DIN No. : |
01331421 |
|
|
|
|
Name : |
Mr. Mirko Menge |
|
Designation : |
Director |
|
Address : |
Eisenbahnatr 13, 63110 Rodgao Rodgav 6310 |
|
Date of Birth/Age : |
10.06.1973 |
|
Date of Appointment : |
17.04.2012 |
|
DIN No. : |
05283854 |
KEY EXECUTIVES
|
Name : |
Mr. Pradeep |
|
Designation : |
Accounts Executive |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 30.09.2013
|
Names of Shareholders |
|
No. of Shares |
|
Thomas Carl Press |
|
1 |
|
Deugro Freight Forwarding, India |
|
249999 |
|
|
|
|
|
Total |
|
250000 |
Equity Share Break up (Percentage of Total Equity)
As on: 30.09.2013
|
Category |
|
Percentage |
|
|
|
|
|
Bodies corporate |
|
100.00 |
|
|
|
|
|
Total
|
|
100.00 |
%20PRIVATE%20LIMITED%20-%20255817%2005-Mar-2014_files/image002.gif)
BUSINESS DETAILS
|
Line of Business : |
Providing Freight Forwarding Services. |
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Terms : |
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Selling : |
Credit |
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Purchasing : |
Credit |
GENERAL INFORMATION
|
Customers : |
End Users |
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No. of Employees : |
85 (Approximately) |
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Bankers : |
HSBC Bank, Mumbai, Maharashtra, India |
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Facilities : |
(Rs.
In Millions)
|
|
|
|
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Banking
Relations : |
-- |
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|
|
|
Auditors : |
|
|
Name : |
J K Varghese and company Chartered Accountants |
|
Address : |
102, Sai Deep, Opposite Vaishali Hotel, Chembur, Mumbai - 400071,
Maharashtra, India |
|
PAN No.: |
AAAPV3658H |
|
|
|
|
Sister Concern : |
Deugro, Germany |
CAPITAL STRUCTURE
As on: 30.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
250000 |
Equity Shares |
Rs.10/- each |
Rs. 2.500 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
|
|
250000 |
Equity Shares |
Rs.10/- each |
Rs. 2.500 Millions |
|
|
|
|
|
|
|
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 |
2.500 |
2.500 |
2.500 |
|
(b) Reserves & Surplus |
64.889 |
49.570 |
16.859 |
|
(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) |
67.389 |
52.070 |
19.359 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
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 |
0.000 |
0.000 |
0.000 |
|
Total
Non-current Liabilities (3) |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
24.697 |
33.202 |
39.378 |
|
(b) Trade payables |
79.270 |
128.959 |
94.250 |
|
(c) Other current liabilities |
67.385 |
21.598 |
20.877 |
|
(d) Short-term provisions |
0.147 |
0.139 |
0.110 |
|
Total
Current Liabilities (4) |
171.499 |
183.898 |
154.615 |
|
|
|
|
|
|
TOTAL |
238.888 |
235.968 |
173.974 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
8.560 |
8.200 |
10.152 |
|
(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 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
15.181 |
10.510 |
8.186 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
23.741 |
18.710 |
18.338 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
0.000 |
0.000 |
0.000 |
|
(c) Trade receivables |
188.416 |
192.298 |
148.309 |
|
(d) Cash and cash equivalents |
20.690 |
18.203 |
1.289 |
|
(e) Short-term loans and
advances |
5.795 |
6.428 |
5.628 |
|
(f) Other current assets |
0.246 |
0.329 |
0.410 |
|
Total
Current Assets |
215.147 |
217.258 |
155.636 |
|
|
|
|
|
|
TOTAL |
238.888 |
235.968 |
173.974 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
1178.382 |
1421.236 |
658.828 |
|
|
|
Other Income |
0.313 |
0.343 |
0.066 |
|
|
|
TOTAL |
1178.695 |
1421.579 |
658.894 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
|
|
|
572.777 |
|
|
|
Administrative and Other Expenses |
|
|
75.083 |
|
|
|
TOTAL |
1155.404 (Including
Financial and Depreciation) |
1374.549 (Including
Financial and Depreciation) |
647.860 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
|
|
11.034 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
|
|
2.589 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
23.291 |
47.030 |
8.445 |
|
|
|
|
|
|
|
|
|
|
TAX |
7.585 |
14.320 |
2.800 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
15.319 |
32.710 |
5.645 |
|
|
|
|
|
|
|
|
|
|
PREOPERATIVE
EXPENSES WRITTEN OFF |
NA |
NA |
0.077 |
|
|
|
|
|
|
|
|
|
|
SURPLUS CARRIED
TO BALABCE SHEET |
NA |
NA |
5.568 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
6.425 |
415.688 |
245.512 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
61.28 |
130.84 |
22.58 |
|
%20PRIVATE%20LIMITED%20-%20255817%2005-Mar-2014_files/image003.gif){kind=small}
%20PRIVATE%20LIMITED%20-%20255817%2005-Mar-2014_files/image004.gif){kind=small}
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
1.30 |
2.30 |
0.86 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
1.98 |
3.31 |
1.28 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
9.75 |
19.93 |
4.86 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.34 |
0.90 |
0.44 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.37 |
0.64 |
2.03 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.25 |
1.18 |
1.01 |
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 |
2.500 |
2.500 |
2.500 |
|
Reserves & Surplus |
16.859 |
49.570 |
64.889 |
|
Net
worth |
19.359 |
52.070 |
67.389 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
39.378 |
33.202 |
24.697 |
|
Total
borrowings |
39.378 |
33.202 |
24.697 |
|
Debt/Equity
ratio |
2.034 |
0.638 |
0.366 |
%20PRIVATE%20LIMITED%20-%20255817%2005-Mar-2014_files/image006.gif)
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
658.828 |
1,421.236 |
1,178.382 |
|
|
|
115.722 |
(17.088) |
%20PRIVATE%20LIMITED%20-%20255817%2005-Mar-2014_files/image008.gif)
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
658.828 |
1,421.236 |
1,178.382 |
|
Profit |
5.645 |
32.710 |
15.319 |
|
|
0.86% |
2.30% |
1.30% |
%20PRIVATE%20LIMITED%20-%20255817%2005-Mar-2014_files/image010.gif)
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 |
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 |
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 |
UNSECURED LOAN
(Rs.
In Millions)
|
Particulars |
As on 31.03.2013 |
As on 31.03.2012 |
|
Short term
borrowings |
|
|
|
Other loans and advances |
24.697 |
24.111 |
|
|
|
|
|
Total |
24.697 |
24.111 |
NOTE:
The register office of the company has been
shifted from 503/504, Sabari Samriddi, 5th Floor Sion Trombay Road,
Maitri Park, Chembur, Mumbai – 400071, Maharashtra, India to the present
address w.e.f. 26.07.2010.
FINANCIAL HIGHLIGHTS
The company earned total income from sales and service of Rs.1178.382 millions as against Rs.1421.236 millions earned during the previous year. The profit before tax stood at Rs.23.291 millions as against Rs.47.030 millions for the previous year. After providing for tax the net profit for the year is Rs.15.319 millions which are carried to Balance Sheet.
Note: No Charges Exist for Company
FIXED ASSETS:
·
Computer and Printer
·
Motor Car
·
Air Conditioner
·
Electrical Installation
·
EP ABX
·
Fax Machine
·
Office Equipments
·
Scanner, Router and Modem
·
Xerox Machine
·
Mobile Instruments
·
Furniture and Fixture
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. 61.90 |
|
|
1 |
Rs. 103.26 |
|
Euro |
1 |
Rs. 85.13 |
INFORMATION DETAILS
|
Information Gathered
by : |
PLK |
|
|
|
|
Report Prepared
by : |
DPH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
|
43 |
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.