MIRA INFORM REPORT

Report Date :

21.11.2014

IDENTIFICATION DETAILS

Name :	GENLITE ENGINEERING PRIVATE LIMITED

Registered Office :	New No. 42, Old No. 129, Sterling Road, Nungambakkam, Chennai-600034, Tamilnadu

Country :	India

Financials (as on) :	31.03.2013

Date of Incorporation :	25.01.2007

Com. Reg. No.:	18-062155

Capital Investment / Paid-up Capital :	Rs.33.500 Millions

CIN No.: [Company Identification No.]	U31101TN2007PTC062155

TAN No.: [Tax Deduction & Collection Account No.]	CHEG08600E

PAN No.: [Permanent Account No.]	AACCG7920Q

Legal Form :	Private Limited Liability Company

Line of Business :	Manufacturer of Electrical Household and Other Goods and Components

No. of Employees :	300 (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

Status :	Satisfactory

Payment Behaviour :	Slow but correct

Litigation :	Clear

Comments :	Subject is an established company having satisfactory track record. The company has shown a significant growth in the company turnover and profit during F.Y 2013. General financial position of the company is normal and acceptable for business dealings. Trade relations are reported as fair. Business is active. Payments terms are reported to be slow but correct. 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 – June 1, 2014

Country Name

Previous Rating

(31.03.2014)

Current Rating

(01.06.2014)

India

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

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.

EXTERNAL AGENCY RATING

Rating Agency Name	Not Available
Rating	Not Available
Rating Explanation	Not Available
Date	Not Available

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 PARTED BY

Name :	Mr. Navaeetha Krishnan
Designation :	Manager
Contact No.:	91-9442262903
Date :	20.11.2014

LOCATIONS

Registered Office :	New No. 42, Old No. 129, Sterling Road, Nungambakkam, Chennai-600034, Tamilnadu, India
Tel. No.:	91-44-42317766
	91-9442262903 (Mr. Navaeetha Krishnan)
Fax No.:	91-44-42317788
E-Mail :	genlite@vsnl.com kpram@vsnl.net
Website :	http://www.tradeget.com
Area :	Owned

Branch Office :	Located at Coimbatore Madurai Kochi Tirupur Sivakasi Thiruvananthapuram

Factory 1 :	F-63, Sipcot Industrial Park, Irugattukattai, Sriperumpoudur -602105, India
Tel. No.:	91-44-27197515. 47193030
E-Mail :	Works.iru@genlite.in

Factory 2 :	S. No. 443/1A1, 1A2, 1B, Illaloor Village, Illaloor to Kattur Road (Near hiruporur), Kanchipuram District - 603110., Tamilnadu, India

Factory 3 :	VPP No. IX / 608, Karimugal Road, Putham Cruz P.O. Ernakulam-682308, India

Service Branch:	No.19, Mooker Nallamuthu Street Parrys, Chennai – 600001, Tamilnadu, India
Tel No.:	044-25230745, 25270985

Trading Office	R. S. No. 38/5, 100 Feet Road, Behind Hasan Honda Showroom, Puducherry – 605001, India
Tel No.:	91- 413 - 2355318

DIRECTORS

As on 30.09.2013

Name :

Maya Ramachandran

Designation :

Whole-time director

Address :

4B, Eden Apartments, No. 1, Kilpauk Garden Road, First Street, Chennai-600010, Tamilnadu, India

Date of Birth/Age :

10.05.1976

Date of Appointment :

23.06.2008

DIN No.:

02099781

PAN No.:

AJIPM3336L

Other Directorship:

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	U31101TN2007PTC062155	GENLITE ENGINEERING PRIVATE LIMITED	Whole-time director	23-06-08	25-01-07	-	Active	NO

Name :

Mr. Ramachandran Nair Kovilakathu Padmanabhan

Designation :

Managing director

Address :

No. 315, Flat No. 2F, Valluvar Kottam, High Raod, Nungambakkam, Chennai – 600034, Tamilnadu, India

Date of Birth/Age :

29.07.1948

Date of Appointment :

23.06.2008

DIN No.:

02321423

PAN No.:

AAHPR2422A

Other Directorship:

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	U30007TN1990PTC018644	GENLITE GENARATORS PRIVATE LIMITED	Director	29-01-90	29-01-90	-	Active	NO
2	U31101TN2007PTC062155	GENLITE ENGINEERING PRIVATE LIMITED	Managing director	23-06-08	25-01-07	-	Active	NO

Name :

Mr. Hema Ramachandran

Designation :

Whole-time director

Address :

4B, Eden Apartments, No. 1, Kilpauk Garden Road, First Street, Chennai-600010, Tamilnadu, India

Date of Birth/Age :

01.06.1978

Date of Appointment :

23.06.2008

DIN No.:

02099836

PAN No.:

ABIPH7696C

Other Directorship:

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	U31101TN2007PTC062155	GENLITE ENGINEERING PRIVATE LIMITED	Whole-time director	23-06-08	25-01-07	-	Active	NO

Name :

Mr. Valsala Ramachandran

Designation :

Whole-time director

Address :

No. 2F, Ceebros River Heights, No. 315. Vallurvarkottam High Road, Nungambakka, Chennai-600034, Tamilnadu, India

Date of Birth/Age :

15.11.1952

Date of Appointment :

23.06.2008

DIN No.:

02397316

PAN No.:

AALPR9083M

Other Directorship:

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	U30007TN1990PTC018644	GENLITE GENARATORS PRIVATE LIMITED	Director	29-01-90	29-01-90	-	Active	NO
2	U31101TN2007PTC062155	GENLITE ENGINEERING PRIVATE LIMITED	Whole-time director	23-06-08	25-01-07	-	Active	NO

Name :

Mr. Gopinathan

Designation :

Whole-time director

Address :

No. 321, Walnut Block, Citi lights Medows, No. 82, Andal Ammal Stree, Raja Garden, Nolambur, Chennai – 600095, Tamilnadu, India

Date of Birth/Age :

11.01.1951

Date of Appointment :

23.06.2008

DIN No.:

02397338

PAN No.;

AFAPG6916L

Other Directorship:

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	U31101TN2007PTC062155	GENLITE ENGINEERING PRIVATE LIMITED	Whole-time director	23-06-08	11-04-07	-	Active	NO

KEY EXECUTIVES

Name :	Mr. Navaeetha Krishnan
Designation :	Manager

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.09.2013

Names of Shareholders	No. of Shares	%age holding
K P Ramachandran	653000	19.49
Valasdal Ramachandran	5000	0.15
Genlite Generators Private Limited, India	1620000	48.36
Maya Ramachandran	493300	14.73
Hema Ramachandran	578700	17.27
Total	3350000	100.00

Equity Share Break up (Percentage of Total Equity)

As on 30.09.2013

Category	Percentage
Bodies corporate	48.36
Directors or relatives of Directors	51.64
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer of Electrical Household and Other Goods and Components

Products :

Item Code No.	Product Description
85021100	Assembling of Diesel Generating Set

Brand Names :

Not Divulged

Agencies Held :

Not Divulged

Exports :

Countries :

Kenya
Brazil
South Arabia

Imports :

Not Divulged

Terms :

Selling :

Cash and Credit

Purchasing :

Cash and Credit

\8\

GENERAL INFORMATION

Suppliers :

Reference :	Navin Housing and properties Private Limited
Name of the Person :	Mr. Saravanan (Electrical Engineering Department)
Contact No.:	91-9600170604
Since How Long Known :	Many Years Ago
Experience :	He informed that the company having good behavior payment term.
Maximum Limit Dealt :	Not Divulged

Customers :

Reference :	OTTO Clothing Private Limited
Name of the Person :	Mr. Suresh (Project Navager)
Contact No.:	91-9952322225
Since How Long Known :	1 Years
Experience :	The company has good relation about quality and quantity of goods and services.
Maximum Limit Dealt :	Rs. 5.000 Millions

No. of Employees :

300 (Approximately)

Bankers :

Bank Name	The Federal Bank Limited
Branch	George Town Branch, Old No.52, New No.107, Armenian Street,George Town, Chennai - 600001, Tamil Nadu, India
Person Name (With Designation)	Mr. prem Kumar (Chief Manager)
Contact Number	91-44-25342871
Name of Account Holder	Genlite Engineering Private Limited
Account Number	11815500001746
Account Since (Date/Year of Account Opening)	25 Years Ago
Average Balance Maintained (If Possible)	Not Divulged
Credit Facilities Enjoyed (If any)	Cash and Credit Rs. 40.000 Millions
Account Operation	Not Divulged
Remarks (If any)	Mr. Prem kumar informed that the company having very good track record with banker.

Facilities :

Secured Loan	31.03.2013 (Rs. in Millions)	31.03.2012 (Rs. in Millions)
Long-term Borrowings
Term loans from banks	3.765	5.711
Short-term borrowings
Rupee term loans from banks	22.432	3.444
Total	26.197	9.155


Banking Relations :

Auditors :
Name :	N.Balasubramanian Associates Chartered Accountants
Address :	50, (Old No. 29) Mandapam Road, Kilpauk, Chennai- 600 010, Tamilnadu, India
PAN N Income-tax PAN of auditor or auditor's firm :	AAFFL2848E

Memberships :	Not Available

Collaborators :	Not Available

Associate:	Genlite Genarators Private Limited, India [U30007TN1990PTC018644]

CAPITAL STRUCTURE

As on 31.03.2013

Authorised Capital :

No. of Shares	Type	Value	Amount

4000000	Equity Shares	Rs.10/- each	Rs. 40.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount

3350000	Equity Shares	Rs.10/- each	Rs. 33.500 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	33.500	33.500	33.500
(b) Reserves & Surplus	51.164	29.835	22.012
(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)	84.664	63.335	55.512

(3) Non-Current Liabilities
(a) long-term borrowings	32.316	34.308	30.074
(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)	32.316	34.308	30.074

(4) Current Liabilities
(a) Short term borrowings	22.432	3.444	34.206
(b) Trade payables	71.061	147.241	51.710
(c) Other current liabilities	41.284	59.493	15.441
(d) Short-term provisions	3.484	0.373	0.000
Total Current Liabilities (4)	138.261	210.551	101.357

TOTAL	255.241	308.194	186.943

II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	54.994	59.193	42.585
(ii) Intangible Assets	0.000	0.553	0.695
(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	3.825	2.529	2.646
(e) Other Non-current assets	0.000	0.000	0.052
Total Non-Current Assets	58.819	62.275	45.978

(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	64.780	94.934	47.183
(c) Trade receivables	106.492	82.186	72.951
(d) Cash and cash equivalents	5.297	48.980	3.905
(e) Short-term loans and advances	19.853	19.819	16.926
(f) Other current assets	0.000	0.000	0.000
Total Current Assets	196.422	245.919	140.965

TOTAL	255.241	308.194	186.943

PROFIT & LOSS ACCOUNT

PARTICULARS	31.03.2013	31.03.2012	31.03.2011
SALES
Income	2372.456	1563.198	1258.148
Other Income
TOTAL	2372.456	1563.198	1258.148

EXPENSES	2340.612	1551.491	1248.227

PROFIT/ (LOSS) BEFORE TAX	31.844	11.656	9.921

TAX	10.516	3.833	3.161

PROFIT/ (LOSS) AFTER TAX	21.328	7.823	6.760

Earnings / (Loss) Per Share (Rs.)	6.37	NA	NA

Particulars

31.03.2014

Sales Turnover (Approximately)

1740.000

(Due to market fluctuation)

Expected Sales (2014-2015) : Rs.2000.000 Millions

The above information has been parted by Mr. Navaeetha Krishnan - Manager

KEY RATIOS

PARTICULARS		31.03.2013	31.03.2012	31.03.2011
Return on Total Assets (PBT/Total Assets}	(%)	12.48	3.78	5.31

Return on Investment (ROI) (PBT/Networth)		0.38	0.18	0.18

Debt Equity Ratio (Total Debt /Networth)		0.65	0.60	1.16

Current Ratio (Current Asset/Current Liability)		1.42	1.17	1.39

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	33.500	33.500	33.500
Reserves & Surplus	22.012	29.835	51.164
Net worth	55.512	63.335	84.664

long-term borrowings	30.074	34.308	32.316
Short term borrowings	34.206	3.444	22.432
Total borrowings	64.280	37.752	54.748
Debt/Equity ratio	1.158	0.596	0.647

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)
Total Income	1258.148	1563.198	2372.456
		24.246	51.769

NET PROFIT MARGIN

Net Profit Margin	31.03.2011	31.03.2012	31.03.2013
	(Rs. In Millions)	(Rs. In Millions)	(Rs. In Millions)
Total Income	1258.148	1563.198	2372.456
Profit	6.760	7.823	21.328
	0.54%	0.50%	0.90%

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	Yes
9]	Name of person contacted	Yes
10]	Designation of contact person	Yes
11]	Turnover of firm for last four years	Yes
12]	Profitability for last three years	Yes
13]	Reasons for variation <> 20%	Yes
14]	Estimation for coming financial year	Yes
15]	Capital in the business	Yes
16]	Details of sister concerns	Yes
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	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

PARTICULARS	31.03.2013 (Rs. in Millions)	31.03.2012 (Rs. in Millions)
Long-term Borrowings
Deposits from others	28.388	28.388
Loans and advances from related parties	0.163	0.209
Total	28.551	28.597

INDEX OF CHARGES

S.NO.	CHARGE ID	DATE OF CHARGE CREATION/MODIFICATION	CHARGE AMOUNT SECURED	CHARGE HOLDER	ADDRESS	SERVICE REQUEST NUMBER (SRN)
1	10117253	11/04/2011 *	72,500,000.00	THE FEDERAL BANK LTD	GEORGE TOWN BRANCH,, OLD NO.52, NEW NO.107, ARMEN IAN STREET,GEORGE TOWN, CHENNAI, TAMIL NADU - 6000 01, INDIA	B12582359
2	10154862	18/06/2008	12,500,000.00	FEDERAL BANK LIMITED	CHENNAI GEORGE TOWN BRANCH, CHENNAI, TAMIL NADU - 600001, INDIA	A43220136

* Date of charge modification

FIXED ASSETS

Tangible assets

Land
Plant and equipment
Furniture and fixtures
Vehicles
Office equipment
Computer equipments

Intangible assets

Computer software

CMT REPORT (Corruption, Money Laundering & Terrorism]

The Public Notice information has been collected from various sources including but not limited to: The Courts, India Prisons Service, Interpol, etc.

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.62.10
UK Pound	1	Rs.97.32
Euro	1	Rs.77.91

INFORMATION DETAILS

Information Gathered by :	GYT

Analysis Done by :	DIV

Report Prepared by :	KVT

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	4
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	5
--RESERVES	1~10	5
--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	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	--

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.

MIRA INFORM REPORT

INDEX OF CHARGES

Unit