MIRA
INFORM REPORT
|
Report Date : |
07.03.2014 |
IDENTIFICATION DETAILS
|
Name : |
YASHASWI FISH MEAL AND OIL COMPANY |
|
|
|
|
Registered
Office : |
Pithrody Fishing Industrial Area, Udyavara – 574 118, Karnataka |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation/ Year of Establishment : |
08.02.2007 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.115.823 Millions |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAAFY6841M |
|
|
|
|
Legal Form : |
Partnership Concern with an unlimited liability of the partners |
|
|
|
|
Line of Business
: |
Manufacturer of fish products. |
|
|
|
|
No. of Employees
: |
175 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (36) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 464000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
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|
|
|
Litigation : |
Clear |
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|
|
Comments : |
Subject is an established partnership concern having a moderate track
record. The rating takes into consideration moderate financial risk profile,
small scale of operations, exposure to risks related to volatility of raw
material prices and intense competition in the industry. However, trade relations are fair. Business is active. Payment are
reported to be slow but correct. The concern can be considered for business dealing with some cautions.
|
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.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long Term Rating=BB- |
|
Rating Explanation |
Have moderate risk of default. |
|
Date |
16.03.2013 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short Term Rating=A4+ |
|
Rating Explanation |
Have Minimal degree of safety and carry very
high credit risk. |
|
Date |
16.03.2013 |
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
|
Name : |
Mr. Sikander |
|
Designation : |
Partner |
|
Contact No.: |
91-8971813586 |
|
Date : |
06.03.2014 |
LOCATIONS
|
Registered Office/ Factory : |
Pithrody Fishing Industrial Area, Udyavara – 574 118, Karnataka, India |
|
Tel. No.: |
91-820-2533720 |
|
Mobile No.: |
91-8971813586 |
|
Fax No.: |
91-820-2009820 |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
5.25 Acer |
|
Location : |
Owned |
PARTNERS
|
Name : |
Mr. Sadhu Salian |
|
Designation : |
Partner |
|
|
|
|
Name : |
Mr. Ahmed Saheb |
|
Designation : |
Partner |
|
|
|
|
Name : |
Mr. Sadanand Salian |
|
Designation : |
Partner |
|
|
|
|
Name : |
Mr. Uday Kumar Salian |
|
Designation : |
Partner |
|
|
|
|
Name : |
Mr. Firoz Ahmed |
|
Designation : |
Partner |
|
|
|
|
Name : |
Mr. Muqthar Ahmed |
|
Designation : |
Partner |
|
|
|
|
Name : |
Mr. Mohammed Mujeeb Sikander Salian |
|
Designation : |
Partner |
|
|
|
|
Name : |
Mr. Yakub F. M. |
|
Designation : |
Partner |
|
|
|
|
Name : |
Mr. Nagaraja Suvarna |
|
Designation : |
Partner |
|
|
|
|
Name : |
Mrs. Ammavi Ameer |
|
Designation : |
Partner |
|
|
|
|
Name : |
Mr. Sudhakar Kundar |
|
Designation : |
Partner |
|
|
|
|
Name : |
Mrs. Nagamma Salian |
|
Designation : |
Partner |
KEY EXECUTIVES
|
Name : |
Mr. Sikander |
|
Designation : |
Partner |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of fish products. |
|
|
|
|
Exports : |
|
|
Countries : |
·
Australia ·
Canada ·
South America ·
Turkey |
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|
|
|
Imports : |
|
|
Products : |
Machinery |
|
Countries : |
China |
|
|
|
|
Terms : |
|
|
Selling : |
CAD |
|
|
|
|
Purchasing : |
TT |
GENERAL INFORMATION
|
Suppliers : |
Yashswi Traders – Malpe Port |
||||||||||||||||||||||||
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|
||||||||||||||||||||||||
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Customers : |
End Users CP Aqua Culture India Private Limited – Thailand |
||||||||||||||||||||||||
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No. of Employees : |
175 (Approximately) |
||||||||||||||||||||||||
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||||||||||||||||||||||||
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Bankers : |
·
Syndicate Bank, Malpe Branch ·
HDFC Bank Limited |
||||||||||||||||||||||||
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|
||||||||||||||||||||||||
|
Facilities : |
Fund and Non Fund = Rs.200.000 Millions
(From Syndicate Bank) |
||||||||||||||||||||||||
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||||||||||||||||||||||||
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Banking
Relations : |
-- |
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|
|
|
Auditors : |
Not Divulged |
CAPITAL STRUCTURE
AS ON 31.03.2013
Partner’s Capital Account
|
Particulars |
Rs.
In Millions |
|
Ahmed Saheb |
9.493 |
|
F. M. Yakub |
9.730 |
|
Mohammed M.
Sikander |
9.518 |
|
Mrs. Ammabi |
9.348 |
|
Muktar Ahmed Isak |
9.448 |
|
Nagaraja Suvarna |
9.598 |
|
Sadananda Salian |
9.373 |
|
Sadhu Salian |
11.468 |
|
Sudhakar Kunder |
9.348 |
|
Sunder G. Salian |
9.298 |
|
T. S. Feroz
Ahmed |
9.898 |
|
Uday Kumar
Salian |
9.303 |
|
|
|
|
Total |
115.823 |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2013 |
31.03.2012 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
115.823 |
51.062 |
|
|
2] Share Application Money |
|
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
|
0.250 |
0.000 |
|
|
4] (Accumulated Losses) |
|
0.000 |
0.000 |
|
|
NETWORTH |
|
116.073 |
51.062 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
116.489 |
32.237 |
|
|
2] Unsecured Loans |
|
0.000 |
3.900 |
|
|
TOTAL BORROWING |
|
116.489 |
36.137 |
|
|
DEFERRED TAX LIABILITIES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
232.562 |
87.199 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
97.457 |
56.025 |
|
|
Capital work-in-progress |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
0.884 |
0.621 |
|
|
DEFERRED TAX ASSETS |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
175.514 |
37.802 |
|
|
Sundry Debtors |
|
93.557 |
37.050 |
|
|
Cash & Bank Balances |
|
3.486 |
2.110 |
|
|
Other Current Assets |
|
14.783 |
6.155 |
|
|
Loans & Advances |
|
0.000 |
0.000 |
|
Total
Current Assets |
|
287.340 |
83.117 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
149.266 |
51.712 |
|
|
Other Current Liabilities |
|
0.000 |
0.023 |
|
|
Provisions |
|
3.853 |
0.829 |
|
Total
Current Liabilities |
|
153.119 |
52.564 |
|
|
Net Current Assets |
|
134.221 |
30.553 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
232.562 |
87.199 |
|
PROFIT & LOSS ACCOUNT
|
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
837.515 |
447.780 |
|
|
|
Other Income |
|
0.327 |
0.198 |
|
|
|
TOTAL |
|
837.842 |
447.978 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Goods Sold |
|
650.086 |
351.526 |
|
|
|
Freight Inward |
|
5.911 |
8.380 |
|
|
|
Power and fuel |
|
35.989 |
6.919 |
|
|
|
Trading and
Unloading Charges |
|
2.929 |
0.000 |
|
|
|
Consumables |
|
3.199 |
0.753 |
|
|
|
Generator
Maintenance |
|
2.739 |
2.678 |
|
|
|
Factory Expenses |
|
0.000 |
1.298 |
|
|
|
Purchase Expenses |
|
0.067 |
0.000 |
|
|
|
Import Expenses |
|
1.247 |
0.958 |
|
|
|
Telephone
Charges |
|
0.246 |
0.175 |
|
|
|
Business
promotion expense |
|
0.000 |
0.997 |
|
|
|
Freight Charges |
|
21.092 |
16.660 |
|
|
|
Salary |
|
13.215 |
10.729 |
|
|
|
Staff Welfare |
|
0.345 |
0.382 |
|
|
|
Bonus |
|
3.450 |
0.000 |
|
|
|
E C G C Premium |
|
0.036 |
0.000 |
|
|
|
Mess – Canteen Expenses |
|
2.763 |
0.000 |
|
|
|
C. H. A. Charges |
|
1.241 |
0.158 |
|
|
|
Insurance Charges |
|
0.981 |
0.271 |
|
|
|
Laboratory
Charges |
|
1.024 |
0.311 |
|
|
|
Marketing
Expenses |
|
1.918 |
0.000 |
|
|
|
Office Maintenance |
|
0.167 |
0.094 |
|
|
|
Packing Expenses |
|
6.451 |
5.680 |
|
|
|
Pooja Expenses |
|
0.163 |
0.075 |
|
|
|
Export Expenses |
|
0.031 |
0.000 |
|
|
|
Demmurage
Charges |
|
0.047 |
0.000 |
|
|
|
Discount Allowed |
|
0.181 |
0.000 |
|
|
|
Rebate on E,a8rt |
|
0.053 |
0.000 |
|
|
|
Membership
Subscription |
|
0.419 |
0.000 |
|
|
|
Stores &
Spare Purchases |
|
9.779 |
13.351 |
|
|
|
Bank Charges |
|
1.747 |
0.371 |
|
|
|
Bank Interest |
|
8.219 |
5.113 |
|
|
|
Printing & Stationery |
|
0.293 |
0.197 |
|
|
|
Professional
Charges |
|
0.864 |
0.571 |
|
|
|
Rent, Rates
& Taxes |
|
0.574 |
0.406 |
|
|
|
Provident Fund |
|
0.141 |
0.154 |
|
|
|
Uniform Expenses |
|
0.152 |
0.000 |
|
|
|
To Building
Repairs & Maintenance |
|
8.360 |
0.000 |
|
|
|
To Repairs &
Maintenance Expenses |
|
1.010 |
0.049 |
|
|
|
To Travelling |
|
0.497 |
0.389 |
|
|
|
To Conveyance |
|
0.461 |
0.188 |
|
|
|
Miscellaneous Expenses |
|
0.015 |
1.972 |
|
|
|
Vehicle Maintenance |
|
0.439 |
0.347 |
|
|
|
Partner's Remuneration |
|
2.400 |
1.920 |
|
|
|
Rent |
|
0.000 |
0.040 |
|
|
|
Advertising expenses |
|
0.000 |
0.296 |
|
|
|
Medical charges |
|
0.000 |
0.055 |
|
|
|
TOTAL |
|
790.941 |
433.463 |
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE DEPRECIATION |
|
46.901 |
14.515sss |
|
|
|
|
|
|
|
|
|
Less |
DEPRECIATION |
|
14.540 |
8.330 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
AFTER TAX |
|
32.361 |
6.185 |
|
KEY RATIOS
|
PARTICULARS |
|
|
31.03.2013 |
31.03.2012 |
|
PAT / Total Income |
(%) |
|
3.86 |
1.38 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
|
3.86 |
1.38 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
|
8.41 |
4.45 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
|
0.28 |
0.12 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
|
1.00 |
0.71 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
|
1.88 |
1.58 |
The above information has been parted by
Note: Sole Proprietary and Partnership concerns are
exempted from filing their financials with the Government Authorities or
Registry.
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
|
|
Rs.
In Millions |
Rs.
In Millions |
|
Share Capital |
51.062 |
115.823 |
|
Reserves & Surplus |
0.000 |
0.25 |
|
Net
worth |
51.062 |
116.073 |
|
|
|
|
|
long-term borrowings |
32.237 |
116.489 |
|
Short term borrowings |
0.000 |
3.9 |
|
Total
borrowings |
32.237 |
120.389 |
|
Debt/Equity
ratio |
0.631 |
1.037 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2012 |
31.03.2013 |
|
|
Rs.
In Millions |
Rs.
In Millions |
|
Sales |
447.78 |
837.515 |
|
|
|
87.037 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2012 |
31.03.2013 |
|
|
Rs.
In Millions |
Rs.
In Millions |
|
Sales
|
447.78 |
837.515 |
|
Profit |
6.185 |
32.361 |
|
|
1.38% |
3.86% |
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 |
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 two years |
Yes |
|
12] |
Profitability for last two 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 |
Yes |
|
18] |
Major customers |
Yes |
|
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 |
No |
|
29] |
Last accounts filed at ROC |
No |
|
30] |
Major Shareholders, if available |
No |
|
31] |
Date of Birth of Proprietor/Partner/Director, if available |
No |
|
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 |
FIXED ASSETS:
·
Land
·
Building
·
Fibre Tank
·
Furniture
·
Plant and Machinery
·
Motor Vehicle
·
ETP Plant
·
Air Conditioner
·
Generator
·
Electrical Equipments
·
Office Equipments
·
Mobile Phones
·
Sewing Machine
·
Utensils
·
Water Tank
·
M S Tank
·
Computer
·
Printer
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.61.32 |
|
|
1 |
Rs.102.54 |
|
Euro |
1 |
Rs.84.19 |
INFORMATION DETAILS
|
Information
Gathered by : |
HNA |
|
|
|
|
Report Prepared
by : |
NKT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
4 |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
|
|
|
|
TOTAL |
|
36 |
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.