MIRA
INFORM REPORT
|
Report Date : |
12.05.2014 |
IDENTIFICATION DETAILS
|
Name : |
YAMUNA SHIPPING AND
LOGISTICS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
214, Land Mark, Astron
Chowk, |
|
|
|
|
Country : |
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|
|
Financials (as
on) : |
31.03.2013 |
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Date of
Incorporation : |
29.01.2009 |
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Com. Reg. No.: |
04-056003 |
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Capital
Investment / Paid-up Capital : |
Rs.0.100
million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U63030GJ2009PTC056003 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
RKTY00153G |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACY3731F |
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|
|
|
Legal Form : |
Private Limited Liability Company |
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|
|
|
Line of Business
: |
Subject is engaged in providing logistics services such as freight
forwarding, transportation, handling, customs clearance etc. |
|
|
|
|
No. of Employees
: |
Information declined by the Management. |
RATING & COMMENTS
|
MIRA’s Rating : |
B (27) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 22000 |
|
|
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|
Status : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate track record. The rating reflects company’s moderate financial risk profile
supported by small scale of business operation and huge external borrowing
taken by the company which acts as threatening to the liquidity position of
the company. However, trade relations are fair. Business is active. Payment terms
are slow but correct. The company can be considered for business dealing with some caution. |
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 DECLINED BY
|
Name : |
Mr. Vijay |
|
Designation : |
Sales Manager |
|
Contact No.: |
91-9725044856 |
|
Date : |
09.05.2014 |
LOCATIONS
|
Registered Office : |
214, Land Mark, Astron
Chowk, Rajkot – 360 001, Gujarat, India |
|
Tel. No.: |
91-281-2481577/ 2482177 |
|
Mobile No.: |
91-9725044856 (Mr. Vijay) |
|
Fax No.: |
91-281-3049477 |
|
E-Mail : |
amar.kothari@yamunashipping.co.in |
|
Website : |
|
|
|
|
|
Corporate Office : |
1104, B Wing, Titanium Square, Opposite
Acropolis Mall, S.G. Highway, Ahmedabad – 380 054, Gujarat, India |
DIRECTORS
AS ON 30.09.2013
|
Name : |
Mr. Amar Dilipbhai Kothari |
|
Designation : |
Director |
|
Address : |
Rasheshwari, 11, Savrashtra Kalakendra Society, Near 150 Feet Ring
Road, Rajkot – 360 007, Gujarat, India
|
|
Date of Birth/Age : |
15.01.1981 |
|
Date of Appointment : |
29.01.2009 |
|
DIN No.: |
02450833 |
|
PAN No.: |
AKJPK1175B |
|
|
|
|
Name : |
Mr. Anandkumar Prakashbhai Parikh |
|
Designation : |
Director |
|
Address : |
Ganesh Society, Chital Road, Amreli – 365 601, Gujarat, India |
|
Date of Birth/Age : |
14.04.1981 |
|
Date of Appointment : |
31.01.2012 |
|
DIN No.: |
05182920 |
|
PAN No.: |
AFMPP0103L
|
KEY EXECUTIVES
|
Name : |
Mr. Vijay |
|
Designation : |
Sales Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2013
|
Names of Shareholders |
No. of Shares |
Percentage of Holding |
|
Amar Dilipbhai Kothari |
8100 |
81.00 |
|
Prakash Nanitbhai Parikh |
900 |
9.00 |
|
Anandkumar Prakashbhai Parikh |
1000 |
10.00 |
|
Total
|
10000 |
100.00 |
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 providing logistics services such as freight forwarding,
transportation, handling, customs clearance etc. |
GENERAL INFORMATION
|
Suppliers : |
·
Arya Trans Logistics Private Limited ·
Agrawal Freight Carrier ·
Agrawal Shipping and Logistic ·
Amanpreet Containers Private Limited ·
Amardeep Logistics ·
Arjun Logistics ·
Ashapura Bulk Carrier ·
Bajaj Roadlinks ·
Caravel Logistics Private Limited ·
Gadhvi Transport and Company ·
Guru Logistics ·
Imperial Cargo ·
Island Container Transport - Cochin ·
Key Yem Logistics ·
Navdeep Logistics Solution ·
Shiv Shakti Cargo Movers |
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Customers : |
·
Anna Enterprises ·
Aswathy Marbles and Granites ·
Balak Traders ·
Chaithanya Associates ·
Chenallore Fashion Marbles ·
Dawn Hardwares and Glass House ·
Deva Traders ·
Erakkodan Tiles Depot ·
Flooring Tech ·
Grand Tiles and Granite ·
Hiba Ceramics ·
Hindustan Tiles and Granites ·
Home Centre ·
Ideal Sanitary ·
J&J Granites and Marbles ·
Jan Traders ·
JRC Ceramics ·
K.J. Granites and Tiles ·
Kings Tiles ·
Lakshmi Granite and Marbles |
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No. of Employees : |
Information declined by the Management. |
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Bankers : |
·
Yes Bank Limited, 9th Floor, Nehru Centre, Discovery of
India, Dr. Annie Besant Road, Worli, Mumbai – 400 018, Maharashtra, India ·
Kotak Mahindra Bank Limited ·
Axis Bank Limited |
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Facilities : |
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Banking
Relations : |
-- |
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|
Financial Institution : |
Tata Capital Limited |
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Auditors : |
|
|
Name : |
Paresh Babaria and Company Chartered Accountants |
|
Address : |
101, Metro Plaza, First Floor, Subhash Road, Opposite Bank of India, Near
Moti Tanki, Rajkot – 360 001, Gujarat, India |
|
PAN No.: |
AAAPB6617N |
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|
|
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Associates/Subsidiaries (As confirmed by the Management) : |
Yamuna
Global Freight Systems |
CAPITAL STRUCTURE
AS ON 30.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
360000 |
Equity Shares |
Rs.10/- each |
Rs.3.600 millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
10000 |
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 |
5.303 |
3.239 |
1.853 |
|
(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) |
5.403 |
3.339 |
1.953 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) Long-term borrowings |
2.983 |
0.484 |
0.860 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long
term liabilities |
3.651 |
5.122 |
3.193 |
|
(d) Long-term
provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
6.634 |
5.606 |
4.053 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
43.307 |
4.609 |
0.652 |
|
(b)
Trade payables |
48.201 |
36.473 |
23.882 |
|
(c)
Other current liabilities |
2.600 |
1.002 |
1.201 |
|
(d) Short-term
provisions |
1.776 |
1.480 |
1.378 |
|
Total Current
Liabilities (4) |
95.884 |
43.564 |
27.113 |
|
|
|
|
|
|
TOTAL |
107.921 |
52.509 |
33.119 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible
assets |
2.145 |
1.770 |
2.047 |
|
(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)
(Preliminary Expenses) |
0.000 |
0.002 |
0.006 |
|
(d) Long-term Loan and Advances |
0.000 |
0.000 |
0.000 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
2.145 |
1.772 |
2.053 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.049 |
0.000 |
0.000 |
|
(b)
Inventories |
0.000 |
0.000 |
0.000 |
|
(c)
Trade receivables |
92.010 |
47.430 |
26.954 |
|
(d) Cash
and cash equivalents |
0.393 |
1.928 |
3.012 |
|
(e)
Short-term loans and advances |
13.324 |
1.379 |
1.100 |
|
(f)
Other current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
105.776 |
50.737 |
31.066 |
|
|
|
|
|
|
TOTAL |
107.921 |
52.509 |
33.119 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from Operations |
22.356 |
|
181.231 |
|
|
|
Other Income |
0.000 |
0.009 |
|
|
|
|
TOTAL |
22.356 |
13.157 |
181.231 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
|
18.945 |
|
179.241 |
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
18.945 |
10.739 |
179.241 |
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
3.411 |
2.418 |
1.989 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
0.341 |
0.358 |
0.410 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX |
3.070 |
2.060 |
1.579 |
|
|
|
|
|
|
|
|
|
|
TAX |
1.004 |
0.670 |
0.500 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX |
2.064 |
1.385 |
1.079 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
206.40 |
138.50 |
108.11 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
9.23
|
10.53 |
0.60 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
13.73
|
15.67 |
NA |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.84
|
3.92 |
4.77 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.57
|
0.62 |
0.81 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
8.57
|
1.53 |
0.77 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.10
|
1.16 |
1.15 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(INR in Mlns.) |
(INR in Mlns.) |
(INR in Mlns.) |
|
Share Capital |
0.100 |
0.100 |
0.100 |
|
Reserves & Surplus |
1.853 |
3.239 |
5.303 |
|
Net worth |
1.953 |
3.339 |
5.403 |
|
|
|
|
|
|
Long-term borrowings |
0.860 |
0.484 |
2.983 |
|
Short term borrowings |
0.652 |
4.609 |
43.307 |
|
Total borrowings |
1.512 |
5.093 |
46.290 |
|
Debt/Equity ratio |
0.774 |
1.525 |
8.567 |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(INR in Mlns) |
(INR in Mlns) |
(INR in Mlns) |
|
Total Income |
181.231 |
13.157 |
22.356 |
|
|
|
(92.740) |
69.917 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(INR in Mlns) |
(INR in Mlns) |
(INR in Mlns) |
|
Total Income |
181.231 |
13.157 |
22.356 |
|
Profit |
1.079 |
1.385 |
2.064 |
|
|
0.60% |
10.53% |
9.23% |
LOCAL AGENCY FURTHER INFORMATION
Details of Current maturities of long term debt:
|
Particulars |
31.03.2013 (Rs. in millions) |
31.03.2012 (Rs. in millions) |
31.03.2011 (Rs. in millions) |
|
Current maturities of
long term debt |
1.501 |
0.376 |
0.343 |
|
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 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 |
Yes |
|
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 |
Yes |
|
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 |
10346628 |
13/03/2013 * |
8,000,000.00 |
YES BANK LIMITED |
9TH FLOOR, NEHRU CENTRE,
DISCOVERY OF INDIA, DR. |
B71170492 |
* Date of charge modification
REVIEW OF OPERATION:
During the year, the
company has achieved Revenue from Operations of Rs.22.356 millions as compared to
previous years of Rs.13.148 millions. Likewise, profit before depreciation and
taxation was Rs.3.411 millions in the current Year as compared to corresponding
result of Rs.2.418 millions of Previous Year. The Net profit after taxation was
Rs.2.064 millions as compared to net profit after taxation of previous year of
Rs.1.385 millions. The Board of Directors of the company expects further
increase in the sales and profitability in the years to come.
FIXED ASSETS:
·
Computer System
·
Telephone Instrument
·
Furniture and Fixture
·
AC Set
·
Car
·
CCTV Camera
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] 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
|
Information
Gathered by : |
HTL |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared by
: |
SMN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
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 |
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 |
|
27 |
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.