MIRA
INFORM REPORT
|
Report Date : |
10.05.2014 |
IDENTIFICATION DETAILS
|
Name : |
MASYC PROJECTS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
20, Community Centre, Mayapuri, Phase-I, New Delhi – 110 064 |
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|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
18.01.1990 |
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|
|
|
Com. Reg. No.: |
55-038957 |
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|
|
|
Capital
Investment / Paid-up Capital : |
Rs.9.225
millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74899DL1990PTC038957 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
DELM08960A |
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|
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PAN No.: [Permanent Account No.] |
AAACM0173D |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Subject
is engaged in the business of manufacturing of Material Handling Systems/
Equipments. |
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|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (49) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 2754000 |
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|
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|
Status : |
Satisfactory |
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|
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is an
established company having satisfactory track record. Financial
position of the company is good. Networth of the
company is healthy. Trade relations
are reported as fair. Business is active. Payment terms are reported to be
usually correct and as per commitment. The company can
be considered normal 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 – 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.
LOCATIONS
|
Registered Office : |
20, Community Centre, Mayapuri, Phase-I, New Delhi – 110 064, India |
|
Tel. No.: |
91-11-28113383/ 28115453/ 28115745 |
|
Fax No.: |
91-11-28116850 |
|
E-Mail : |
|
|
Website : |
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|
|
|
Factory 1 : |
2008 – 2011, M.I.E., Bahadurgarh, District Jhajjar – 124 507, Haryana, India |
|
Tel. No.: |
91-1276-267496/ 267996/ 324051/ 324052 |
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Factory 2 : |
2434 - P, M.I.E. Bahadurgarh, District Jhajjar – 124 507, Haryana, India |
|
Tel. No.: |
91-1276-325559 |
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|
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|
Factory 3 : |
Plot No. E-12, Old Industrial Area, Bahadurgarh, District Jhajjar, Haryana, India |
|
Tel. No.: |
91-1276-215998 |
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Factory 4 : |
Opposite M.I.E. Bahadurgarh, Plot No.76/6/2, Bank Road, Bahadurgarh, District Jhajjar, Haryana, India |
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Factory 5 : |
B-14 (Khasra No.37/01), Opposite 1437 M.I.E., M.I.E. Mama Chowk, Bahadurgarh, District Jhajjar – 124 507, Haryana, India |
DIRECTORS
AS ON 30.09.2013
|
Name : |
Mr. Vijay Bikhchandani |
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|
Designation : |
Managing Director |
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|
Address : |
B-2/233, Paschim Vihar, New Delhi – 110 063, India |
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Date of Birth/Age : |
25.11.1950 |
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Qualification : |
Bachelor of Engineering [B.E.] Master of Business Administration [MBA]
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Experience : |
40 Years |
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Date of Appointment : |
18.01.1990 |
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DIN No.: |
01149285 |
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PAN No.: |
AFBPB9388Q |
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Other Directorship :
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Name : |
Mr. Ved Bhushan Bhatia |
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Designation : |
Whole-time Director |
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|
Address : |
Flat No.338, Modern Apartment, Plot No.5, Sector-15, Rohini, New Delhi
– 110 085, India |
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Date of Birth/Age : |
04.01.1959 |
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Date of Appointment : |
10.07.1992 |
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DIN No.: |
01149755 |
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PAN No.: |
AAQPB2948A |
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Other Directorship :
|
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MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2013
|
Names of Shareholders |
|
No. of Shares |
|
Vijay Bikhchandani |
|
73440 |
|
Ved Bhushan Bhatia |
|
9171 |
|
Vandana Harpalani |
|
9639 |
|
Total |
|
92250 |
AS ON 30.09.2013
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Directors
or relatives of directors |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject
is engaged in the business of manufacturing of Material Handling Systems/
Equipments. |
||
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|
||
|
Products : |
·
Belt Conveyors ·
Pipe Conveyors ·
Sidewall
Conveyors ·
Idlers\Rollers and
Pulleys ·
Bucket Elevators ·
Apron Feeders \
Conveyors ·
Screw Conveyors ·
Samplers and
Sampling Systems ·
En-Masse
Conveyors and Drag Chain Conveyors ·
Automatic Bag
Slitting Machine ·
Vertiveyor ·
Air Sweep Systems ·
Vacu-Lifts / Disk
Lift Conveyors ·
Un-Loading
Systems ·
Turnkey Material
Handling Systems |
PRODUCTION STATUS (AS ON 31.03.2011):
Licensed Capacity: NA
Installed
Capacity: 10000 MT (As certified by the Management)
|
Particulars |
Unit |
Actual
Production |
|
Conveyors |
Nos. |
0 |
|
|
Sets |
16 |
|
Conveyors (In Segments) |
Nos. |
36 |
|
|
Sets |
399 |
|
Material Handling Equipments |
Sets |
51 |
|
Material Handling Equipments (In Segments) |
Sets |
0 |
|
Spares including Others |
Nos. |
7247 |
|
|
Sets |
9 |
|
|
Lots |
0 |
|
Bucket Elevator (In Segments) |
Sets |
7 |
|
Screw/ Chain Conveyor |
Nos. |
8 |
|
MS Scrap |
Kg. |
46060 |
GENERAL INFORMATION
|
Customers : |
Steel
Industry ·
Aarti Steel
Limited, Cuttack Bhushan Power and Steel
Limited Bhushan Steel Limited, New Delhi Essar Steel Limited, Hazira Hindalco Industries Limited (Birla Copper) Jindal Steel and Power Limited JSW Monnet Ispat and Power Limited Rathi Steel Udyog Limited, Ghaziabad Sterlite Industries Limited, Tuticorin Tata Iron and Steel Company Limited Tata Sponge Iron Limited Visa Steel Cement
Industry · Al Katrana Cement Chettinad Cement Calcom Pulp
and Paper Industry · J.K. Paper Limited Star Paper Mills Glass
Industry · HNG AGI Glaspac Hyderabad Fertilizers/ Chemical
Industry · Duncans Ind. Limited Kanpur National Fertilizers Limited Panipat Rock/Ore
Crushing and Screening Plant Projects · Duncans Ind. Limited Kanpur Essel Mining and Industries Limited Coal Handling/
Solid Fuel Handling/ Ash Handling Plants · Birla Copper Hindustan Lever Limited Sugar Plant · Bajaj Hindustan Sugar Limited Indian Sugar and General Engg. Corp |
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No. of Employees : |
Not Available |
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Bankers : |
Bank of India, Rajouri Garden, New Delhi – 110 027, India |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
S. Bansal and Associates Chartered Accountants |
|
Address : |
26, First Floor, Chawla Complex, A-215, Shakarpur Vikash Marg, Delhi –
110 092, India |
|
Tel. No.: |
91-11-22430020 |
|
Mobile No.: |
91-8800408908/ 9891160431 |
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E-Mail : |
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Income-tax
PAN of auditor or auditor's firm : |
AARFS7044K |
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Other Related
Parties (Company having common Directors) : |
Beltyne Products (India) Private Limited, India (CIN No.: U27109DL1997PTC087450) |
CAPITAL STRUCTURE
AS ON 30.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
100000 |
Equity Shares |
Rs.100/- each |
Rs.10.000 millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
92250 |
Equity Shares |
Rs.100/- each |
Rs.9.225
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 |
9.225 |
9.225 |
9.225 |
|
(b) Reserves & Surplus |
679.377 |
533.647 |
435.279 |
|
(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) |
688.602 |
542.872 |
444.504 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) Long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
3.697 |
2.402 |
1.696 |
|
(c) Other long
term liabilities |
0.000 |
0.000 |
0.000 |
|
(d) Long-term
provisions |
2.560 |
2.793 |
2.167 |
|
Total Non-current
Liabilities (3) |
6.257 |
5.195 |
3.863 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
46.846 |
17.979 |
7.318 |
|
(b)
Trade payables |
290.585 |
209.834 |
194.802 |
|
(c)
Other current liabilities |
71.279 |
112.512 |
98.375 |
|
(d) Short-term
provisions |
260.046 |
190.655 |
142.957 |
|
Total Current
Liabilities (4) |
668.756 |
530.980 |
443.452 |
|
|
|
|
|
|
TOTAL |
1363.615 |
1079.047 |
891.819 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i)
Tangible assets |
148.701 |
102.377 |
86.689 |
|
(ii)
Intangible Assets |
1.074 |
1.504 |
0.000 |
|
(iii)
Capital work-in-progress |
0.085 |
32.188 |
18.478 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.036 |
0.036 |
0.036 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
0.298 |
0.298 |
0.293 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
150.194 |
136.403 |
105.496 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
103.807 |
103.002 |
67.210 |
|
(c)
Trade receivables |
377.675 |
213.107 |
111.522 |
|
(d) Cash
and cash equivalents |
441.305 |
385.049 |
421.945 |
|
(e) Short-term
loans and advances |
290.634 |
240.908 |
185.643 |
|
(f)
Other current assets |
0.000 |
0.578 |
0.003 |
|
Total
Current Assets |
1213.421 |
942.644 |
786.323 |
|
|
|
|
|
|
TOTAL |
1363.615 |
1079.047 |
891.819 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
NA |
|
740.902 |
|
|
|
Other Income |
NA |
|
|
|
|
|
TOTAL |
NA |
757.935 |
740.902 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
NA |
606.483 |
585.364 |
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE DEPRECIATION &
TAXATION AND PRIOR PERIOD ITEMS |
221.514 |
151.452 |
155.538 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
3.755 |
2.962 |
2.481 |
|
|
|
|
|
|
|
|
|
Less |
PRIOR PERIOD ITEMS |
0.326 |
0.701 |
2.709 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX |
217.433 |
147.789 |
150.348 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
70.631 |
48.349 |
51.396 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX |
146.802 |
99.440 |
98.952 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’
BALANCE BROUGHT FORWARD |
333.647 |
235.279 |
137.402 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Proposed Dividend |
0.922 |
0.922 |
0.922 |
|
|
|
Tax on Proposed Dividend |
0.150 |
0.150 |
0.153 |
|
|
BALANCE CARRIED
TO THE B/S |
479.377 |
333.647 |
235.279 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Value (C&F) |
53.257 |
1.663 |
1.966 |
|
|
TOTAL EARNINGS |
53.257 |
1.663 |
1.966 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Components and Others |
29.201 |
8.761 |
3.286 |
|
|
TOTAL IMPORTS |
29.201 |
8.791 |
3.286 |
|
|
|
|
|
|
|
|
|
|
Earnings/ (Loss)
Per Share (Rs.) |
1591.35 |
1078.00 |
1073.00 |
|
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 |
No |
|
10] |
Designation of contact
person |
No |
|
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 |
Yes |
|
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 |
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 |
INDEX OF CHARGES:
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
10006809 |
19/06/2006 |
95,000,000.00 |
BANK OF INDIA |
RAJOURI GARDEN BRANCH, RAJOURI GARDEN, DELHI, DELHI - 110027, INDIA |
A01849637 |
|
2 |
10012435 |
19/06/2006 |
95,000,000.00 |
BANK OF INDIA |
RAJOURI GARDEN BRANCH, RAJOURI GARDEN, DELHI, DELHI - 110027, INDIA |
A02102507 |
|
3 |
80005790 |
19/06/2006 * |
15,000,000.00 |
BANK OF INDIA |
RAJOURI GARDEN BRANCH, RAJOURI GARDEN, DELHI, DELHI - 110027, INDIA |
- |
* Date of charge modification
MERGER OF GROUP COMPANIES
The scheme of amalgamation of their erstwhile group company namely Elcoma Engineers Private Limited (Transferor Company) with the company Masyc Projects Private Limited (Transferee Company) at the appointed date April 1, 2008 was approved by Hon'ble High Court of Delhi order dated. November 21st, 2008, the effective date of merger is 17.12.2008.
The amalgamation would result in synergy of business including consolidation of business resulting in achievement of economies of scale and management efficiency, reduction in administrative cost, optimization of resources, enhanced flexibility in funding of expansion plan, expansion of asset base, improvement in profitability and stronger balance sheet of merged entity etc.
Consequent upon the approval of the scheme of amalgamation, the copy of the order dated November 21, 2008 of the Hon’ble high court of Delhi was filed by the respective companies with the registrar of companies on December 17, 2008 and from the said date, being the effective date the transferor company stood merged with the company. As per the exchange ratio provided in the approved scheme, the shareholder of the transferor company (Elcoma Engineers Private Limited), have been allotted the 250 Equity Shares of Rs.100/- each of Masyc Projects Private Limited in the Swap Ratio of 1:4 of the transferee company on January 16, 2009.
The Amalgamation has been accounted for under the "Pooling of Interests Method" as prescribed by "Accounting Standard 14 - Accounting for Amalgamation [AS-14] issued by the Institute of Chartered Accountants of India. Accordingly, the assets. The liabilities, and reserve of the transferor company have been taken over at their book values on the appointed date.
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 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.60.05 |
|
UK Pound |
1 |
Rs.101.65 |
|
Euro |
1 |
Rs.83.07 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
SMN |
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.