MIRA
INFORM REPORT
|
Report Date : |
17.09.2014 |
IDENTIFICATION DETAILS
|
Name : |
|
|
|
|
|
Formerly Known
As : |
POONA BESAN MILLS LIMITED |
|
|
|
|
Registered
Office : |
71/A, Hadapsar Industrial Estate, Pune-411013, |
|
|
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|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
28.05.1985 |
|
|
|
|
Com. Reg. No.: |
11-36382 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs.4.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U15313PN1985PTC036382 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
PNEP02880D |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCP2949M |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of flour and importer of pulses |
|
|
|
|
No. of Employees
: |
80 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (47) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track record. The rating takes into consideration company’s sound financial risk
profile marked by low debt levels and decent liquidity position led by the healthy
growth in revenues over the last fiscal. Trade relations are fair. Business is active. Payment terms are
reported to be usually correct. The company can be considered for business dealings at usual trade
terms and condition. |
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.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
|
Rating |
Cash credit: BBB + |
|
Rating Explanation |
Moderate degree of safety and moderate credit risk. |
|
Date |
February 2014 |
|
Rating Agency Name |
ICRA |
|
Rating |
Non fund based limit: A2 |
|
Rating Explanation |
Strong degree of safety and low credit risk. |
|
Date |
February 2014 |
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. Gautam Surana |
|
Designation : |
Import Department |
|
Contact No.: |
91-20-26872003 |
|
Date : |
15.09.2014 |
LOCATIONS
|
Registered Office : |
71/A, Hadapsar Industrial Estate, Pune-411013, |
|
Tel. No.: |
91-20-26872003/ 4/ 5 |
|
Fax No.: |
91-20-26873266 |
|
E-Mail : |
|
|
|
|
|
Factory: |
Shriur, Shikrapur Nagar Road highway, Pune – 411366, Maharashtra,
India |
|
Tel No.: |
91-2137-646250 |
DIRECTORS
As on: 30.09.2013
|
Name : |
Mr. Sujit Deepchand Parakh |
|
Designation : |
Whole time director |
|
Address : |
No. 2, Jubilee, Oppsite Gurudwara, Pune – 411001, Maharashtra, India |
|
Date of Birth/Age : |
30.10.1966 |
|
Date of Appointment : |
30.06.2005 |
|
DIN No : |
00067011 |
|
|
|
|
Name : |
Mr. Sunil Deepchand Parakh |
|
Designation : |
Director |
|
Address : |
Bunglow No. 1, Salisbury Park, Pune – 411037, Maharashtra, India |
|
Date of Birth/Age : |
20.02.1964 |
|
Date of Appointment : |
30.04.1988 |
|
DIN No : |
00053265 |
|
|
|
|
Name : |
Mr. Banshilal Bhandari |
|
Designation : |
Whole time director |
|
Address : |
3761, 8 Navi Peth, Ahmednagar – 414001, Maharashtra, India |
|
Date of Birth/Age : |
21.02.1965 |
|
Date of Appointment : |
24.07.2010 |
|
DIN No : |
03145839 |
|
|
|
|
Name : |
Mr. Rajendrakumar Banshilal Bhandari |
|
Designation : |
Whole Time Director |
|
Address : |
3761 8, Navi Peth, Ahmednagar – 414001, Maharashtra, India |
|
Date of
Birth/Age : |
21.02.1964 |
|
Date of
Appointment : |
24.07.2010 |
|
DIN No : |
03145839 |
KEY EXECUTIVES
|
Name : |
Mr. Gautam Surana |
|
Designation : |
Import Department |
|
|
|
|
Name : |
Mr. Krishna Murthy |
|
Designation : |
Company Secretary |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 30.09.2013
|
Names of Shareholders |
No. of Shares |
|
Deepchand K. Parakh |
3910 |
|
Deepchand K. Parakh (HUF) |
3600 |
|
Sudarshanbai D. Parakh |
3700 |
|
Rajashree S. Parakh |
3600 |
|
Sujit D. Parakh |
3900 |
|
Meera S. Parakh |
1710 |
|
Jalamchand K. Parakh |
3910 |
|
Jalamchand K. Parakh (HUF) |
3600 |
|
Vijayabai J. parakh |
3600 |
|
Anushree Swapnil Parakh |
600 |
|
Suraj Sunil Parakh |
3900 |
|
Sunil D. Parakh |
3970 |
|
Total |
40000 |
Equity Share Break up (Percentage of Total Equity)
As on: 30.09.2013
|
Category |
Percentage |
|
Directors or relatives of Directors |
70.73 |
|
Other top fifty shareholders |
29.27 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of flour and importer of pulses. |
|
|
|
|
Imports : |
|
|
Products : |
Yellows peas lentils |
|
Countries : |
·
Canada ·
Australia |
|
|
|
|
Terms : |
|
|
Selling : |
Cash and Cheque |
|
|
|
|
Purchasing : |
Cash and Cheque |
PRODUCTION STATUS (AS ON
31.03.2012)
|
Particulars |
Capacity Hadapsar Unit |
Shikrapur Unit |
|
Licensed Capacity |
N.A. |
60000 M.T. |
|
Installed Capacity |
45000 M.T. |
45000 M.T. |
|
Particulars |
Actual
Production |
|
Chana Dal |
18025.669 |
|
Chana Besan |
40349.503 |
|
Chuni Fole |
14109.074 |
|
Vatana Dal |
25261.700 |
|
Vatana Flour |
21195.850 |
GENERAL INFORMATION
|
Customers : |
Wholesalers and Retailers |
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No. of Employees : |
80 (Approximately) |
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Bankers : |
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Facilities : |
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Banking
Relations : |
-- |
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|
|
|
Auditors : |
|
|
Name : |
Bharat H. Shah and Associates Chartered Accountants |
|
Address : |
B/202, Premanand Park, Wanworie, Pune – 411013, Maharashtra, India |
|
PAN No.: |
AVSPS4661A |
|
|
|
|
Group Companies: |
·
Poona Dal and Oil India lImited ·
Poona Roller Floor Mill Limited ·
Poona Floor and Food ·
PDBM International Limited |
|
|
·
|
|
Subsidiaries : |
·
Pulses and Grains International Pte. Limited ·
Pulses and Grains International Limited |
CAPITAL STRUCTURE
As on: 31.03.2013
Authorized Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
40000 |
Equity Shares |
Rs.100/- each |
Rs. 4.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
40000 |
Equity Shares |
Rs.100/- each |
Rs. 4.000
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 |
4.000 |
4.000 |
4.000 |
|
(b) Reserves & Surplus |
388.024 |
336.741 |
357.582 |
|
(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) |
392.024 |
340.741 |
361.582 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
68.024 |
65.116 |
75.483 |
|
(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) |
68.024 |
65.116 |
75.483 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term
borrowings |
0.000 |
0.000 |
159.855 |
|
(b) Trade payables |
1097.320 |
428.734 |
551.643 |
|
(c) Other current
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) Short-term provisions |
26.625 |
62.280 |
44.500 |
|
Total Current Liabilities (4) |
1123.945 |
491.014 |
755.998 |
|
|
|
|
|
|
TOTAL |
1583.993 |
896.871 |
1193.063 |
|
|
|
|
|
|
II. ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
80.799 |
74.197 |
65.386 |
|
(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 |
47.432 |
47.432 |
47.432 |
|
(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 |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
128.231 |
121.629 |
112.818 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
440.289 |
257.417 |
701.889 |
|
(c) Trade receivables |
499.016 |
188.227 |
178.777 |
|
(d) Cash and cash
equivalents |
268.477 |
240.978 |
114.372 |
|
(e) Short-term loans
and advances |
246.334 |
86.970 |
83.722 |
|
(f) Other current
assets |
1.646 |
1.650 |
1.485 |
|
Total Current Assets |
1455.762 |
775.242 |
1080.245 |
|
|
|
|
|
|
TOTAL |
1583.993 |
896.871 |
1193.063 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
8740.000 |
6490.000 |
4815.400 |
|
|
|
Other Income |
NA |
NA |
NA |
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
Less |
TAX |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
51.300 |
37.300 |
37.200 |
|
|
|
|
|
|
|
|
|
|
FOB VALUE OF
EXPORTS |
0.000 |
0.000 |
112.330 |
|
|
|
|
|
|
|
|
|
|
CIF VALUE OF
IMPORTS |
4146.617 |
2404.690 |
967.670 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
1282.500 |
932.50 |
930.00 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.17 |
0.19 |
0.65 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.30 |
1.58 |
1.43 |
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 |
4.000 |
4.000 |
4.000 |
|
Reserves & Surplus |
357.582 |
336.741 |
388.024 |
|
Net worth |
361.582 |
340.741 |
392.024 |
|
|
|
|
|
|
long-term borrowings |
75.483 |
65.116 |
68.024 |
|
Short term borrowings |
159.855 |
0.000 |
0.000 |
|
Total borrowings |
235.338 |
65.116 |
68.024 |
|
Debt/Equity ratio |
0.651 |
0.191 |
0.174 |
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 |
4815.400 |
6490.000 |
8740.000 |
|
|
|
34.776 |
34.669 |
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 |
4815.400 |
6490.000 |
8740.000 |
|
Profit |
37.200 |
37.300 |
51.300 |
|
|
0.77% |
0.57% |
0.59% |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES
OF LONG-TERM DEBT DETAILS: 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 |
Yes |
|
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 |
No |
|
18] |
Major customers |
No |
|
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 |
Yes |
REVIEW OF PERFORMANCE
Sales during the year was Rs. 8740.000 Millions compared with the previous years figures of 6490.000 Millions. Profit after tax was Rs. 51.300 Millions compared with Rs. 37.300 Millions in the previous year.
UNSECURED LOAN
|
Particulars |
As on 31.03.2013 |
As on 31.03.2012 |
|
|
(Rs. In Millions) |
|
|
LONG TERM
BORROWINGS: |
|
|
|
Loans repayable on demand from others |
64.000 |
57.500 |
|
Total |
64.000 |
57.500 |
INDEX OF CHARGES:
|
S.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10437345 |
31/05/2013 |
10,000,000.00 |
CORPORATION BANK |
ADITI COMMERCE CENTRE, 2406, GENERAL THIMAYYA ROAD, PUNE - 411001, MAHARASHTRA, INDIA |
B79819520 |
|
2 |
10060365 |
22/03/2012 * |
2,253,500,000.00 |
CENTRAL BANK OF INDIA LIMITED |
317,, M.G. ROAD, CAMP,, PUNE - 411001, MAHARASHTRA, INDIA |
B36681252 |
FIXED ASETS:
· Land
· Buildings
· Plant and Equipment
· Furniture and Fixtures
· Vehicles
· Office Equipment
· Other Equipments
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.61.10 |
|
|
1 |
Rs.99.04 |
|
Euro |
1 |
Rs.79.03 |
INFORMATION DETAILS
|
Information
Gathered by : |
GYT |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
JAY |
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 |
6 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
|
47 |
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.