MIRA
INFORM REPORT
|
Report Date : |
25.09.2014 |
IDENTIFICATION DETAILS
|
Name : |
AADITYA CERAMICS PRIVATE LIMITED |
|
|
|
|
Formerly Known
As : |
AADITYA AUTO SALES PRIVATE LIMTED |
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|
|
|
Registered
Office : |
103, Great Easter Retreat
Co-Operative Housing Society Limited, |
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Country : |
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|
|
Financials (as
on) : |
31.03.2013 |
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|
|
|
Date of
Incorporation : |
18.06.2003 |
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|
|
|
Com. Reg. No.: |
11-018045 |
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|
|
Capital
Investment / Paid-up Capital : |
Rs.1.000 million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U50101PN2003PTC018045 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
PNEA06926D |
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|
|
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PAN No.: [Permanent Account No.] |
AAECA9044M |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer and Exporter of Fire Bricks and Refractory Materials. |
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No. of Employees
: |
150 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (42) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 290000 |
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|
|
Status : |
Satisfactory |
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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 satisfactory track record. Profitability of the
company has declined during financial year 2013. However, general
financial position of the company seems to be sound and healthy. Trade relations
are fair. Business is active. Payments terms are reported to be slow but
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.
ECGC Country Risk Classification List – June 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
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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 |
CRISIL |
|
Rating |
SE 3B |
|
Rating Explanation |
Moderate financial strength and moderate
performance capability. |
|
Date |
29-12-2012 |
RBI DEFAILTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAILTERS’ 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. Mihir Ashok
Shah |
|
Designation : |
Director |
|
Contact No.: |
91-9822050501 |
|
Date : |
24.09.2014 |
LOCATIONS
|
Registered Office : |
103, Great Easter
Retreat Co-Operative Housing Society Limited, |
|
Tel. No.: |
91-20-25533561 |
|
Mobile No.: |
91-982205050 (Mr. Mihir Shah) |
|
Fax No.: |
91-22-25534606 |
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E-Mail : |
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Website : |
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|
Area : |
1000 Sq. ft |
|
Location : |
Owned |
|
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Corporate office : |
102, Anant Chambers, 710, |
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Tel. No.: |
91-20-25533561 |
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Fax No.: |
91-20-25534606 |
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E-Mail : |
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Factory : |
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Tel. No.: |
91-2828-293482 |
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E-Mail : |
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Area : |
3 Acres |
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Location : |
Owned |
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Branch Office : |
Located at: v
Sri Rampur |
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Overseas /Sales Office : |
Aaditya Ceramics Inc. |
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Tel. No.: |
001-416-391-4323 |
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E-Mail : |
DIRECTORS
AS ON 30.09.2013
|
Name : |
Mr. Ashok Padamshi
Shah |
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|
Designation : |
Director |
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|
Address : |
Vivekanand Housing Society, Ward No.1, Srirampur, Ahmednagar – 413
709, |
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Date of Birth/Age : |
08.08.1947 |
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Qualification : |
B .E Mechanical |
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Date of Appointment : |
18.06.2003 |
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01369820 |
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Other Directorship :
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Name : |
Mrs. Bharati Ashok
Shah |
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Designation : |
Director |
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|
Address : |
11, Vivekanand Housing Society, Near R.S.M.B
Col., Ward No.1, Srirampur, Ahmednagar
– 413 709, |
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|
Date of Birth/Age : |
23.02.1949 |
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Date of Appointment : |
18.06.2003 |
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DIN No.: |
01369895 |
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Other Directorship :
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||||||||||||||||||||||||
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Name : |
Mr. Mihir Ashok Shah
|
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|
Designation : |
Director |
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|
Address : |
Vivekanand Housing Society, Ward No.1, Srirampur, Ahmednagar – 413
709, |
||||||||||||||||||||||||
|
Date of Birth/Age : |
08.02.1974 |
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|
Qualification : |
BE Civil |
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Date of Appointment : |
18.06.2003 |
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DIN No.: |
01369929 |
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Other Directorship :
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||||||||||||||||||||||||
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Name : |
Mrs. Ratna Ankur Shah
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Designation : |
Director |
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Address : |
H. No.1, Vivekanand Housing Society, Near |
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Date of Birth/Age : |
14.01.1977 |
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Date of Appointment : |
18.06.2003 |
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DIN No.: |
01370002 |
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Other Directorship :
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||||||||||||||||||||||||
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Name : |
Mr. Ankur Ashok
Shah |
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Designation : |
Director |
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|
Address : |
Swami Vivekanand Housing Society, Shrirampur, Ahmednagar – 413
907, |
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Date of Birth/Age : |
05.03.1978 |
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Qualification : |
BE Mechanical |
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|
Date of Appointment : |
18.06.2003 |
||||||||||||||||||||||||
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DIN No.: |
01370016 |
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Other Directorship :
|
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MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2013
|
Names of Shareholders |
|
No. of Shares |
|
Ashok Padamshi Shah |
|
13950 |
|
Bhartiben Ashok Shah |
|
13950 |
|
Mihir Ashok Shah |
|
13950 |
|
Hetal Mihir Shah |
|
13950 |
|
Ameet Ashok Shah |
|
6250 |
|
Sonal Ameet Shah |
|
10000 |
|
Ankur Ashok Shah |
|
14000 |
|
Ratna Ankur Shah |
|
13950 |
|
Total |
|
100000 |
AS ON 30.09.2013
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Directors
or relatives of directors |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Fire Bricks and Refractory Materials. |
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|
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|
Products : |
v
Boiler Bricks for Chemical Plants v
Burner Blocks v
Hanger Bricks for Steel Rolling Mils v Heating Element Bricks for Electric furnaces |
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Exports : |
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|
Products : |
Fire Bricks and Refractory Materials |
|
Countries : |
v
v
v
v
UAE v
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Terms : |
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Selling : |
Cash and Credit |
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Purchasing : |
Cash and Credit |
GENERAL INFORMATION
|
Customers : |
End Users |
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No. of Employees : |
150 (Approximately) |
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Bankers : |
·
State Bank of · HDFC Bank Limited, HDFC Bank House, Senapati Bapat Marg, Lower Parel (West), Mumbai – 400 013, Maharashtra, India |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
B.S. Mart and Associates Chartered Accountants |
|
Address : |
1909/2, Ram Dhwaj Commercial Complex, 732/B,
1st |
|
Income-tax
PAN of auditor or auditor's firm : |
AAFFP2146R |
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|
|
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Parent Company : |
Sai Ceramic Engineers Private Limited |
CAPITAL STRUCTURE
As on 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
100,000 |
Equity Shares |
Rs.10/- each |
Rs.1.000 million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
100,000 |
Equity Shares |
Rs.10/- each |
Rs.1.000 million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
|
SOURCES OF FUNDS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
1.000 |
1.000 |
1.000 |
|
(b) Reserves & Surplus |
11.086 |
10.466 |
7.796 |
|
(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) |
12.086 |
11.466 |
8.796 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
33.283 |
18.249 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term liabilities |
0.000 |
0.000 |
14.160 |
|
(d) long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current Liabilities (3) |
33.283 |
18.249 |
14.160 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term
borrowings |
11.198 |
6.001 |
5.803 |
|
(b) Trade payables |
10.143 |
6.857 |
3.933 |
|
(c) Other current
liabilities |
6.609 |
7.629 |
5.968 |
|
(d) Short-term provisions |
0.187 |
0.069 |
0.483 |
|
Total Current Liabilities (4) |
28.137 |
20.556 |
16.187 |
|
|
|
|
|
|
TOTAL |
73.506 |
50.271 |
39.143 |
|
|
|
|
|
|
II. ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i)
Tangible assets |
25.980 |
28.667 |
18.694 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
15.708 |
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 |
0.258 |
0.261 |
0.258 |
|
Total Non-Current Assets |
41.946 |
28.928 |
18.952 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
15.610 |
8.661 |
8.602 |
|
(c) Trade receivables |
13.778 |
11.127 |
10.591 |
|
(d) Cash and cash
equivalents |
0.713 |
0.233 |
0.436 |
|
(e) Short-term loans
and advances |
1.034 |
1.322 |
0.562 |
|
(f) Other current
assets |
0.425 |
0.000 |
0.000 |
|
Total Current Assets |
31.560 |
21.343 |
20.191 |
|
|
|
|
|
|
TOTAL |
73.506 |
50.271 |
39.143 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
47.966 |
46.323 |
47.651 |
|
|
|
Other Income |
0.951 |
0.571 |
0.166 |
|
|
|
TOTAL |
48.917 |
46.894 |
47.817 |
|
|
|
|
|
|
|
|
|
TOTAL EXPENDITURE |
48.104 |
43.909 |
45.131 |
|
|
|
|
|
|
|
|
|
|
DEPRECIATION/
AMORTISATION |
3.831 |
3.067 |
1.962 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
0.620 |
2.669 |
1.927 |
|
|
Particulars |
|
|
31.03.2014 |
|
Sales Turnover (Approximately) |
|
|
55.000 |
The above information has been parted by Mr. Mihir
Ashok Shah (Director)
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
1.26
|
5.69 |
4.02 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.60
|
0.48 |
0.14 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.12
|
1.03 |
1.24 |
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 |
1.000 |
1.000 |
1.000 |
|
Reserves & Surplus |
7.796 |
10.466 |
11.086 |
|
Net
worth |
8.796 |
11.466 |
12.086 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
18.249 |
33.283 |
|
Short term borrowings |
5.803 |
6.001 |
11.198 |
|
Total
borrowings |
5.803 |
24.250 |
44.481 |
|
Debt/Equity
ratio |
0.660 |
2.115 |
3.680 |
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 |
47.651 |
46.323 |
47.966 |
|
|
|
(2.787) |
3.547 |
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 |
47.651 |
46.323 |
47.966 |
|
Profit |
1.927 |
2.669 |
0.620 |
|
|
4.04% |
5.76% |
1.29% |
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 |
Yes |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
---------------------- |
|
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% |
No |
|
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 |
No |
|
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 |
UNSECURED LOANS
|
PARTICULARS |
31.03.2013 Rs.
In Millions |
31.03.2012 Rs.
In Millions |
|
Loans from
Directors and Relatives |
26.002 |
16.138 |
|
Total |
26.002 |
16.138 |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
10215725 |
09/10/2012 * |
19,500,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, MAHARASHTRA - 400013, INDIA |
B59610048 |
|
2 |
10204731 |
08/10/2012 * |
19,500,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, MAHARASHTRA - 400013, INDIA |
B59609289 |
* Date of charge modification
FIXED ASSETS:
· Land and Land Development
·
· Plant and Machinery
· Electric Installation
· Furniture and Fixtures
· Office Equipments
· Computer Systems
· Laboratory Equipments
· Vehicles
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 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.61.03 |
|
|
1 |
Rs.99.99 |
|
Euro |
1 |
Rs.78.37 |
INFORMATION DETAILS
|
Information
Gathered by : |
NYA |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
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 |
3 |
|
--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 |
|
42 |
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 |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.