MIRA INFORM REPORT
|
Report Date : |
06.11.2014 |
IDENTIFICATION DETAILS
|
Name : |
SVP PACKING INDUSTRY PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
4, Guru Krupa, 1st Floor, 514/22, S V P Road, Opera House,
Mumbai - 400004, Maharashtra |
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|
Country : |
India |
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Financials (as
on) : |
31.03.2013 |
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Date of
Incorporation : |
27.03.2000 |
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Com. Reg. No.: |
11-125361 |
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Capital Investment
/ Paid-up Capital : |
Rs.2.002 Millions |
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|
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CIN No.: [Company Identification
No.] |
U25206MH2000PTC125361 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMS46953E |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer of Magic Seal Bags (Reclosable Bags), Zipper Profiles. |
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No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (48) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
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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. There seems slight dip in profitability of the company during the year
2013. However, general financial positions of the company is sound and
healthy. Trade relations are reported to be fair. Business is active. Payment
terms are usually correct. The company can be considered 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.
INDIAN ECONOMIC OVERVIEW
N E W S
Verdict Implications
: Apex court order may alter coal import dynamics. Traders go slow on talks
over coal supply contracts, uncertainty over cancellation of blocks weigh on
stocks.
Recent arrest of the
Chennai head of the Registrar of Companies, the ministry of corporate affairs
arm that ensures that companies file all the information required by the Companies
Act is the latest manifestation of a messy fight between a father and his
adopted son for the control of Rs 40000 mn business empire. The Central Bureau
of Investigation arrested Manumeethi Cholan after he accepted Rs 10 lakhs as
bribe from M A M Ramaswamy, a CBI official said.
Central Bureau of
Investigation books Electrotherm for cheating Central Bank of Rs 4360 mn.
Infosys maintains
revenue guidance. COO Rao says attrition still an area of concern and it would
take a few more quarters to bring down levels to 13-15 %.
DHL to invest
Euro 100 mn in India over next 2 years. The firm has chosen India to pilot its
e-commerce business model for the Asia-Pacific region.
Blackstone may buy stake
in BlueRidge SEZ in line with the fund’s real estate strategy in India.
Kingfisher Airlines
Ltd grounded in October 2012 under the weight of heavy debt and accumulated
losses, recently approached the Delhi high court for relief in two separate
cases. The airline challenged a notice by Punjab & National Bank alleging
that It had wilfully defaulted on Rs 7700 mn of loans and sought more time to
comply with the requirements under the listing agreements with the Stock
Exchanges.
OnMobile likely to
sack another 300 employees. The lay-offs follow a spate of senior-level exits
over the past two years, starting with of its founder. The overall lay-offs
could number around 600 and are driven by the need to cut costs, says a former
employee.
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
31-03-2014.
INFORMATION DENIED BY
|
Name : |
Ms. Sujata |
|
Designation : |
Account Head |
|
Contact No.: |
91-8377804754 |
|
Date : |
05.11.2014 |
LOCATIONS
|
Registered Office : |
4, Guru Krupa, 1st Floor, 514/22, S V P Road, Opera House,
Mumbai - 400004, Maharashtra, India |
|
Tel. No.: |
91-22-66351516 / 66351517/ 24945116/ 24945117 |
|
Mobile No.: |
91-8377804754 (Ms. Sujata) |
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Fax No.: |
91-22-23888652 / 24945118 |
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E-Mail : |
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Website : |
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Head Office : |
Unit No.21, 2nd Floor, Mahalaxmi Industrial Estate, Dainik
Shivner Road, Gandhinagar, Lower Parel (West), Mumbai - 400013, Maharashtra,
India |
|
|
|
|
Factory : |
Plot No. 60-62, Village Waliv Vasai (East), District Thane – 401208,
Maharashtra, India |
DIRECTORS
As on: 30.09.2013
|
Name : |
Mr. Chhotalal Velji Shah |
|
Designation : |
Director |
|
Address : |
B-303, Shreeji Ville, Opposite Nitin Casting Company, Dr. Almeida
Road, Panchpakadi, Thane - 400602, Maharashtra, India |
|
Date of Birth/Age : |
03.07.1951 |
|
Date of Appointment : |
09.05.2008 |
|
DIN No.: |
00896974 |
|
|
|
|
Name : |
Mr. Pradip Ramanlal Shah |
|
Designation : |
Chairman |
|
Address : |
4, Guru Krupa, 514/22, SVP Road, Mumbai - 400004, Maharashtra, India |
|
Date of Birth/Age : |
15.01.1941 |
|
Date of Appointment : |
27.03.2000 |
|
DIN No.: |
01960775 |
|
|
|
|
Name : |
Mr. Saunil Bipin Shah |
|
Designation : |
Director |
|
Address : |
4, Guru Krupa, 514/22, SVP Road, Mumbai - 400004, Maharashtra, India |
|
Date of Birth/Age : |
02.12.1959 |
|
Date of Appointment : |
27.03.2000 |
|
DIN No.: |
01960798 |
KEY EXECUTIVES
|
Name : |
Ms. Sujata |
|
Designation : |
Account Head |
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|
|
|
Name : |
Ms. Megha |
|
Designation : |
Marketing Executive |
MAJOR SHAREHOLDERS
As on: 30.09.2013
|
Names of Shareholders |
No. of Shares |
|
Pradip Ramanlal Shah jointly with Bipin Ramanlal Shah and Saunil Bipin Shah |
41499 |
|
Sudha Pradip Shah jointly with Bipin Ramanlal Shah and Saunil Bipin
Shah |
500 |
|
Bharati Bipin Shah jointly with Bipin Ramanlal Shah and Saunil Bipin
Shah |
19450 |
|
Saunil Bipin Shah jointly with Bipin Ramanlal Shah |
63950 |
|
Jitendra Ratilal Shah jointly with Meena Jitendra Shah and Kapil
Jitendra Shah |
13340 |
|
Sudha Pradip Shah jointly with Pradip Ramanlal Shah and Saunil Bipin
Shah |
41400 |
|
Chhotalal Velji Shah jointly with Indu Chhotalal Shah |
16824 |
|
Indu Chhotalal Shah jointly with Chhotalal Velji Shah |
16336 |
|
Viral Chhotalal Shah jointly with Rashmi Viral Shah |
100 |
|
Rashmi Vira Shah jointly with Viral Shah |
100 |
|
Pradip Ramanlal Shah jointly with Bipin Ramanlal Shah and
Virendra H. Shah |
1 |
|
Total
|
213500 |
Equity Share Break up (Percentage of Total Equity)
As on: 30.09.2013
|
Category |
Percentage |
|
Directors or relatives of directors |
100.00 |
|
Total
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Magic Seal Bags (Reclosable Bags), Zipper Profiles. |
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Products : |
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Exports : |
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Countries : |
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GENERAL INFORMATION
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No. of Employees : |
Information declined by the management |
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Bankers : |
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Facilities : |
SECURED
LOAN (Rs.
In Millions)
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|
Banking
Relations : |
-- |
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|
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Auditors : |
|
|
Name : |
Narendra Bhat Chartered Accountant |
|
Address : |
2, 2nd Floor, Asgar Manzil, 49, Janmabhoomi Marg,
Mumbai-400001, |
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Tel. No.: |
91-22-66954731 / 4 |
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PAN No.: |
AAIPB6824H |
CAPITAL STRUCTURE
As on: 30.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
950000 |
Equity Shares |
Rs.10/- each |
Rs.9.500 Millions |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
213500 |
Equity Shares |
Rs.10/- each |
Rs.2.135 Millions |
|
13340 |
Less: Buy Back of Equity Shares |
Rs.10/- each |
Rs.0.133
Million |
|
|
Total |
|
Rs.2.002 Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
2.002 |
2.135 |
2.135 |
|
(b) Reserves & Surplus |
77.700 |
76.792 |
63.308 |
|
(c) Money received against share warrants |
0.000 |
0.000 |
0.000 |
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|
|
|
|
|
(2) Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Total Shareholders’
Funds (1) + (2) |
79.702 |
78.927 |
65.443 |
|
|
|
|
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|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
0.483 |
0.833 |
1.029 |
|
(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) |
0.483 |
0.833 |
1.029 |
|
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|
(4) Current
Liabilities |
|
|
|
|
(a) Short term borrowings |
26.282 |
23.383 |
24.207 |
|
(b) Trade payables |
15.129 |
4.965 |
3.944 |
|
(c) Other current liabilities |
5.632 |
3.263 |
3.143 |
|
(d) Short-term provisions |
0.569 |
1.822 |
3.896 |
|
Total Current
Liabilities (4) |
47.612 |
33.433 |
35.190 |
|
|
|
|
|
|
TOTAL |
127.797 |
113.193 |
101.662 |
|
|
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|
ASSETS |
|
|
|
|
(1) Non-current
assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
48.187 |
28.671 |
30.475 |
|
(ii) Intangible Assets |
0.050 |
0.050 |
0.050 |
|
(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 |
0.503 |
0.503 |
0.503 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
4.289 |
24.722 |
17.178 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
53.029 |
53.946 |
48.206 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
41.014 |
31.991 |
32.768 |
|
(c) Trade receivables |
20.164 |
20.944 |
14.559 |
|
(d) Cash and cash equivalents |
5.410 |
0.241 |
0.736 |
|
(e) Short-term loans and advances |
8.068 |
5.950 |
5.218 |
|
(f) Other current assets |
0.112 |
0.121 |
0.175 |
|
Total Current
Assets |
74.768 |
59.247 |
53.456 |
|
|
|
|
|
|
TOTAL |
127.797 |
113.193 |
101.662 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
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|
TOTAL REVENUE/
SALES |
225.900 |
200.400 |
193.700 |
|
|
|
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|
|
|
|
TOTAL EXPENSES |
NA |
NA |
NA |
|
|
|
|
|
|
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|
PROFIT BEFORE
TAX |
18.000 |
21.100 |
23.200 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
Net Profit Margin (PBT/Sales) |
(%) |
7.97 |
10.53
|
11.98
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
14.14 |
18.72
|
22.93
|
|
|
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|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.23 |
0.27
|
0.35
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.34 |
0.31
|
0.39
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.57 |
1.77
|
1.52
|
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 |
2.135 |
2.135 |
2.002 |
|
Reserves & Surplus |
63.308 |
76.792 |
77.700 |
|
Net
worth |
65.443 |
78.927 |
79.702 |
|
|
|
|
|
|
long-term borrowings |
1.029 |
0.833 |
0.483 |
|
Short term borrowings |
24.207 |
23.383 |
26.282 |
|
Total
borrowings |
25.236 |
24.216 |
26.765 |
|
Debt/Equity
ratio |
0.386 |
0.307 |
0.336 |
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 |
193.700 |
200.400 |
225.900 |
|
|
|
3.459 |
12.725 |
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 |
193.700 |
200.400 |
225.900 |
|
Profit |
23.200 |
21.100 |
18.000 |
|
|
11.98% |
10.53% |
7.97% |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES
OF LONG TERM DEBT = NOT AVAILABLE
|
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 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 |
No |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
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 |
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 :
Registered Office
of the company has been shifted from 2 2nd Floor, Asger Manzil, 49
Janmabhoomi Marg, Fort, Mumbai-400001, Maharashtra, India to the present address w.e.f. 01.06.2009
UNSECURED LOAN
(Rs.
In Millions)
|
Particular |
As on 31.03.2013 |
As on 31.03.2012 |
|
SHORT TERM
BORROWINGS |
|
|
|
HDFC Bank Limited |
0.552 |
0.106 |
|
From Shareholders |
9.500 |
9.500 |
|
Total |
10.052 |
9.606 |
BUSINESS ACTIVITY
The working during the year resulted in total revenue of Rs. 225.900 Millions against Rs.200.400 Millions in the previous year, thus registering a growth of about 13% for the year. The Profit before Tax amounted to Rs. 18.000 Millions against Rs. 21.100 Millions in the previous year. Increase in the cost of various overheads during the year put margins under pressure as compared to the last year. The depreciating rupee is resulting in increased raw material cost as significant part of the Company’s raw material is imported. All efforts are being made to contain the various overhead cost.
During the year the Company paid interim dividend amounting to Rs. 20 per share on 2,00,160 equity shares. Directors do not recommend any final dividend for the year.
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
CHARGE HOLDER |
ADDRESS |
Service Request Number (SRN) |
|
1 |
10451338 |
19/08/2013 |
45,000,000.00 |
THE SHAMRAO VITHAL CO-OPERATIVE BANK LIMITED |
H/2, ANANDASHRAM, SHAMRAO VITHAL MARG, MUMBAI, MAHARASHTRA - 400007, INDIA |
B85860682 |
|
2 |
80004791 |
13/05/2011 * |
45,000,000.00 |
THE SHAMRAO VITHAL CO-OPERATIVE BANK LIMITED |
H/2, ANANDASHRAM, SHAMRAO VITHAL MARG, MUMBAI, MAHARASHTRA - 400007, INDIA |
B15201726 |
|
3 |
90141001 |
15/03/2002 |
15,906,000.00 |
THE SHAMRAO VITHAL CO-OP BANK LIMITED |
SHAMRAO VITHAL BRANCH, MUMBAI, MAHARASHTRA - 400007, INDIA |
- |
|
4 |
90147649 |
13/05/2011 * |
25,000,000.00 |
THE SHAMRAO VITHAL CO-OPERATIVE BANK LIMITED |
H/2, ANANDASHRAM, SHAMRAO VITHAL MARG, MUMBAI, MAHARASHTRA - 400007, INDIA |
B15205065 |
|
5 |
90143310 |
28/03/2003 * |
2,000,000.00 |
THE SHAMRAO VITHAL CO-OP BANK LIMITED |
PROCIER ROAD BRANCH,
MUMBAI, MAHARASHTRA - 400007, |
- |
* Date of charge modification
FIXED ASSETS
- Building
- Machinery
- Furniture
- Office Equipment
- Computer
- Vehicles
- Fire Extinguisher
- Crates
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. 61.38 |
|
|
1 |
Rs. 98.00 |
|
Euro |
1 |
Rs. 76.98 |
INFORMATION DETAILS
|
Information
Gathered by : |
PRT |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
ASH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
6 |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
|
|
|
|
TOTAL |
|
48 |
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.