MIRA INFORM REPORT
|
Report Date : |
28.10.2014 |
IDENTIFICATION DETAILS
|
Name : |
NILON VAVLES PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
1/18-19, Ellora Commercial Centre, B/H Relief Cinema, Salapas Road,
Ahmedabad – 380001, Gujarat |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
23.04.2008 |
|
|
|
|
Com. Reg. No.: |
04-053664 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 0.411 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U25199GJ2008PTC053664 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
AHMN03630E |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Industrial Valves. |
|
|
|
|
No. of Employees
: |
Not Divulged |
RATING & COMMENTS
|
MIRA’s Rating : |
B (34) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Small Company |
|
|
|
|
Payment Behaviour : |
Slow But Correct |
|
|
|
|
Litigation : |
Clear |
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|
|
|
Comments : |
Subject is a small company in its field. Its scale of activities are
limited. However, trade relations are reported to be fair. Business is active.
Payments are reported to be slow but correct. The company can be considered for small to medium business dealings
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
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 : |
Mr. Rushit Jani |
|
Designation : |
Director |
|
Contact No.: |
91-9898356766 |
|
Date : |
27.10.2014 |
LOCATIONS
|
Registered Office : |
1/18-19, Ellora Commercial Centre, B/H Relief Cinema, Salapas Road,
Ahmedabad – 380001, Gujarat, India |
|
Tel. No. : |
91-79-65120531 |
|
Mobile No.: |
91-9898356766 (Mr. Rushit Rameshbhai Jani) 91-9725111888 (Mr. Trushit Ramesh Jani) |
|
Fax No. : |
91-79-30228132 |
|
E-Mail : |
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|
|
|
|
Factory : |
31-A, Sardar Patel Industrial Estate, Shahwadi, Narol, Ahmedabad –
382405, Gujarat, India |
|
Tel. No. : |
91-79-65120531/ 65458132 |
|
Fax No. : |
91-79-30228132 |
|
|
|
|
Branch Offices : |
Located at · Guntur · Nagpur · Kolkata · Allahabad · Udaipur · Mumbai · Indore · Meerut · Vishakhapatnam · Nigeria |
DIRECTORS
As on 25.09.2013
|
Name : |
Mr. Trushit Rameshbhai Jani |
|
Designation : |
Director |
|
Address : |
8, Gargi Flats, Near Chandranagar, Six Roads, Paldi, Ahmedabad – 380007, Gujarat, India |
|
Date of Birth/Age : |
13.09.1980 |
|
Date of Appointment : |
23.04.2008 |
|
DIN No. : |
02136484 |
|
|
|
|
Name : |
Mr. Rushit Rameshbhai Jani |
|
Designation : |
Director |
|
Address : |
8, Gargi Flats, Near Chandranagar, Six Roads, Paldi, Ahmedabad – 380007, Gujarat, India |
|
Date of Birth/Age : |
14.05.1984 |
|
Date of Appointment : |
23.04.2008 |
|
DIN No. : |
02136486 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 25.09.2013
|
Names of Shareholders |
No. of Shares |
Percentage of Holding |
|
Rushit Rameshbhai Jani |
20430 |
49.73 |
|
Trushit Rameshbhai Jani |
12650 |
30.79 |
|
Rameshbhai Laxminarayan Jani |
4500 |
10.95 |
|
Heta Trushit Jani |
1750 |
4.26 |
|
Hemali Rushit Jani |
1750 |
4.26 |
|
Total |
41080 |
100.00 |
Equity Share Break up (Percentage of Total Equity)
As on: 25.09.2013
|
Category |
Percentage of Holding |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Industrial Valves. |
|
|
|
|
Products : |
· Diaphragm Valve · Ball Valves · Butterfly Valves · Gate Valves · Globe Valves · Pulp Valve · Pinch Valve · Non-Return Valve · Needle Valve · Strainer · Control Valves · Conduit Gate Valves |
GENERAL INFORMATION
|
No. of Employees : |
Not Divulged |
|||||||||||||||||||||
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|||||||||||||||||||||
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Bankers : |
Bank of India, New Cloth Market Branch, New Cloth Market Out Side Raipur Gate, Ahmedabad - 380002, Gujarat, India |
|||||||||||||||||||||
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Facilities : |
NOTE Security Details: Secured by hypothecation of tangible current assets (other than movable plant and machinery), namely, inventories and book debts of the Company as a whole and also secured by second and subservient charge on immovable and movable assets of the Company to the extent of individual bank’s limit as mentioned in joint consortium documents. This also extends to guarantees given by the bankers. |
|
|
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|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
M A N J and Associates Chartered Accountants |
|
Address : |
1/18-19, Ellora Commercial Center, B/H. Relief Cinema, Salapas Road, Ahmedabad – 380001, Gujarat, India |
|
PAN No.: |
AASFM9046Q |
CAPITAL STRUCTURE
As on 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
50,000 |
Equity Shares |
Rs.10/- each |
Rs. 0.500 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
41,080 |
Equity Shares |
Rs.10/- each |
Rs. 0.411 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 |
0.411 |
0.411 |
0.100 |
|
(b) Reserves & Surplus |
3.779 |
3.434 |
0.362 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2)
Share Application money pending allotment |
0.000 |
0.000 |
0.923 |
|
Total
Shareholders’ Funds (1) + (2) |
4.190 |
3.845 |
1.385 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
1.514 |
2.950 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
0.374 |
0.118 |
0.001 |
|
(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) |
1.888 |
3.068 |
0.001 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
3.800 |
5.243 |
1.023 |
|
(b) Trade
payables |
17.305 |
4.958 |
5.711 |
|
(c) Other
current liabilities |
0.000 |
0.000 |
0.000 |
|
(d) Short-term
provisions |
0.000 |
0.000 |
0.000 |
|
Total Current
Liabilities (4) |
21.105 |
10.201 |
6.734 |
|
|
|
|
|
|
TOTAL |
27.183 |
17.114 |
8.120 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
8.473 |
6.677 |
0.115 |
|
(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) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
0.000 |
0.000 |
0.000 |
|
(e) Other
Non-current assets |
4.916 |
2.892 |
3.403 |
|
Total Non-Current
Assets |
13.389 |
9.569 |
3.518 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
1.242 |
1.023 |
0.245 |
|
(c) Trade
receivables |
6.467 |
4.436 |
1.669 |
|
(d) Cash
and cash equivalents |
1.873 |
0.311 |
0.445 |
|
(e)
Short-term loans and advances |
4.212 |
1.775 |
2.243 |
|
(f) Other
current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
13.794 |
7.545 |
4.602 |
|
|
|
|
|
|
TOTAL |
27.183 |
17.114 |
8.120 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
|
|
21.848 |
21.563 |
|
|
|
Other Income |
|
0.260 |
0.070 |
|
|
|
TOTAL (A) |
56.091 |
22.108 |
21.633 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Purchases and Related Expenses |
|
14.617 |
16.426 |
|
|
|
Employee Emoluments |
|
3.432 |
2.200 |
|
|
|
Operational and Other Expenses |
|
3.058 |
2.766 |
|
|
|
Exceptional Item of Expenses |
|
0.009 |
0.000 |
|
|
|
Pre-Operative Expenses Written Off |
|
0.004 |
0.004 |
|
|
|
TOTAL (B) |
54.924 (Including
Depreciation and Financial Expenses) |
21.120 |
21.396 |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (A-B) (C) |
|
0.988 |
0.237 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
|
0.534 |
0.025 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
|
0.454 |
0.212 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
|
0.057 |
0.005 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F)
(G) |
1.167 |
0.397 |
0.207 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
0.406 |
0.123 |
0.061 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-H) (I) |
0.761 |
0.274 |
0.146 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
18.52 |
6.68 |
14.64 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
1.36 |
1.24 |
0.67 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
NA
|
1.82 |
0.96 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
4.29 |
2.32 |
2.55 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.28 |
0.10 |
0.15 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
1.27 |
2.13 |
0.74 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.65 |
0.74 |
0.68 |
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 |
0.100 |
0.411 |
0.411 |
|
Reserves & Surplus |
0.362 |
3.434 |
3.779 |
|
Share Application money
pending allotment |
0.923 |
0.000 |
0.000 |
|
Net
worth |
1.385 |
3.845 |
4.190 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
2.950 |
1.514 |
|
Short term borrowings |
1.023 |
5.243 |
3.800 |
|
Total
borrowings |
1.023 |
8.193 |
5.314 |
|
Debt/Equity
ratio |
0.739 |
2.131 |
1.268 |
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 |
21.633 |
22.108 |
56.091 |
|
|
|
2.196 |
153.714 |
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 |
21.633 |
22.108 |
56.091 |
|
Profit |
0.146 |
0.274 |
0.761 |
|
|
0.67% |
1.24% |
1.36% |
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) |
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 |
10523769 |
18/07/2014 |
11,360,000.00 |
AXIS BANK LIMITED |
TRISHUL 3RD FLOOR,
OPP SAMARTHESHWAR TEMPLE LAW GARDEN, ELLIS BRIDGE,, AHMEDABAD, GUJARAT -
380009, |
C25565185 |
|
2 |
10290679 |
12/12/2012 * |
6,371,000.00 |
BANK OF INDIA |
NEW CLOTH MARKET
BRANCH, NEW CLOTH MARKET OUTSIDE |
B67335273 |
|
3 |
10290678 |
12/12/2012 * |
4,906,000.00 |
BANK OF INDIA |
NEW CLOTH MARKET
BRANCH, NEW CLOTH MARKET OUTSIDE |
B67335117 |
UNSECURED LOANS
|
PARTICULAR |
31.03.2013 (Rs.
In Millions) |
31.03.2012 (Rs.
In Millions) |
|
SHORT TERM
BORROWINGS |
|
|
|
Unsecured Loans from Directors and Members |
0.000 |
2.072 |
|
Total |
0.000 |
2.072 |
FIXED ASSETS
· Building
· Plant and Machinery
· Furniture’s and Fittings
· Computer and Peripheral
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
judgment 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.61.23 |
|
|
1 |
Rs.98.53 |
|
Euro |
1 |
Rs.77.75 |
INFORMATION DETAILS
|
Information
Gathered by : |
HTL |
|
|
|
|
Analysis Done by
: |
SUM |
|
|
|
|
Report Prepared
by : |
JAY |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
3 |
|
--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 |
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 |
|
34 |
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.