MIRA INFORM REPORT
|
Report No. : |
316145 |
|
Report Date : |
07.04.2015 |
IDENTIFICATION DETAILS
|
Name : |
DURGA BEARINGS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
39, New Avadi Road, Kilpauk, Chennai – 600010, Tamilnadu |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
31.03.2004 |
|
|
|
|
Com. Reg. No.: |
18-052850 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 0.200 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U51503TN2004PTC052850 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
CHED04781A |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCD9465E |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Trader and Importer of all types of Bearings. |
|
|
|
|
No. of Employees
: |
60 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (48) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 168000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a proven market leader in the supply of world-class
bearings in the country. It is an established company having satisfactory
track record. The rating reflect the extensive experience of company’s promoters in
the bearing industry backed by its established track record of business
operations. The rating also takes into consideration company’s sound operational
risk profile supported by adequate profitability margins and fair liquidity
position of the company. Trade relations are fair. Business is active. Payments are reported to
be usually correct. The company can be considered for business dealings at usual trade
terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
EXTERNAL AGENCY RATING
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 (GENERAL DETAILS)
|
Name : |
Ms. Sonal |
|
Designation : |
HR Admin |
|
Contact No.: |
91-44-26440414 |
|
Date : |
06.04.2015 |
LOCATIONS
|
Registered/ Regional Office 1/ Warehouse : |
39, New Avadi Road, Kilpauk, Chennai – 600010, Tamilnadu, India |
|
Tel. No.: |
91-44-26440414/ 42020404 (8 Lines) |
|
Fax No.: |
91-44-26442595/ 42078085 |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
|
|
|
|
Regional Office 2 : |
# 10/26C, "Utsav" 1st Floor, 1st , Rajajinagar, West of Cord Road, Bangalore – 560010, Karnataka, India |
|
Tel. No.: |
91-80-67718000 |
|
Fax No.: |
91-80-67718043 |
|
E-Mail : |
|
|
|
|
|
Branch Offices : |
Located at: · Hyderabad · New Delhi · Coimbatore · Kolkata ·
Bangalore ·
Pune ·
Ahmedabad ·
Madhya Pradesh ·
Surat |
DIRECTORS
AS ON 30.09.2014
|
Name : |
Mrs. Kusum Sultania |
||||||||||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||||||||||
|
Address : |
39, New Avadi Road, Kilpauk, Chennai – 600010, Tamilnadu, India |
||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
20.06.1964 |
||||||||||||||||||||||||||||||||
|
Date of Appointment : |
31.03.2004 |
||||||||||||||||||||||||||||||||
|
DIN No.: |
02041738 |
||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||
|
Name : |
Mr. Manoj Kumar Sultania |
||||||||||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||||||||||
|
Address : |
39, New Avadi Road, Kilpauk, Chennai – 600010, Tamilnadu, India |
||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
04.08.1962 |
||||||||||||||||||||||||||||||||
|
Date of Appointment : |
31.03.2004 |
||||||||||||||||||||||||||||||||
|
DIN No.: |
02041799 |
||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||
|
Name : |
Mrs. Sharmila Sultania |
||||||||||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||||||||||
|
Address : |
39, New Avadi Road, Kilpauk, Chennai – 600010, Tamilnadu, India |
||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
02.09.1970 |
||||||||||||||||||||||||||||||||
|
Date of Appointment : |
31.03.2004 |
||||||||||||||||||||||||||||||||
|
DIN No.: |
02041722 |
||||||||||||||||||||||||||||||||
|
Other Directorship :
|
|||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||
|
Name : |
Mr. Bishnu Kumar Sultania |
||||||||||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||||||||||
|
Address : |
39, New Avadi Road, Kilpauk, Chennai – 600010, Tamilnadu, India |
||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
10.01.1964 |
||||||||||||||||||||||||||||||||
|
Date of Appointment : |
31.03.2004 |
||||||||||||||||||||||||||||||||
|
DIN No.: |
02446574 |
||||||||||||||||||||||||||||||||
|
Other Directorship :
|
|||||||||||||||||||||||||||||||||
KEY EXECUTIVES
|
Name : |
Ms. Sonal |
|
Designation : |
HR Admin |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2014
|
Names of Shareholders |
No. of Shares |
Percentage of Holding |
|
Manoj Kumar Sultania |
6670 |
33.35 |
|
Sharmila Sultania |
3360 |
16.80 |
|
Kusum Sultania |
3360 |
16.80 |
|
Bishnu Kumar Sultania |
6610 |
33.05 |
|
|
|
|
|
Total |
20000 |
100.00 |
AS ON 30.09.2014
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Directors
or relatives of directors |
100.00 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Trader and Importer of all types of Bearings. |
|
|
|
|
Brand Names : |
“BMD” |
|
|
|
|
Agencies Held : |
-- |
|
|
|
|
Exports : |
|
|
Products : |
-- |
|
Countries : |
-- |
|
|
|
|
Imports : |
|
|
Products : |
Bearings |
|
Countries : |
Japan |
|
|
|
|
Terms : |
|
|
Selling : |
Cash and Cheque |
|
|
|
|
Purchasing : |
Cash and Cheque |
PRODUCTION STATUS: NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Customers : |
Retailers, End Users and OEMs
· Bhel · Hindalco · Bhushan Steel · VSP · Jindal · Tata · Godrej · Hyundai · ACC |
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
No. of Employees : |
60 (Approximately) |
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Bankers : |
· Bank of India · Deutsche Bank · HDFC Bank Limited · Axis Bank Limited · The Royal Bank of Scotland N.V. · Indusind Bank · Ratnakar Bank Limited · State Bank of India |
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Omprakash and Comapny Chartered Accountants |
|
Address : |
356, Mint Street, Sowcarpet, Chennai – 600079, Tamilnadu, India |
|
Tel. No.: |
91-44-25385665/ 25394495 |
|
E-Mail : |
|
|
Income-tax
PAN of auditor or auditor's firm : |
AADPB8964D |
|
|
|
|
Associates/Subsidiaries : |
Not Available |
CAPITAL STRUCTURE
AS ON 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
250,000 |
Equity Shares |
Rs. 10/- each |
Rs. 2.500 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
20,000 |
Equity Shares |
Rs. 10/- each |
Rs. 0.200 Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
0.200 |
0.200 |
0.200 |
|
(b) Reserves & Surplus |
58.674 |
48.528 |
39.539 |
|
(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) |
58.874 |
48.728 |
39.739 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
19.854 |
75.008 |
69.432 |
|
(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) |
19.854 |
75.008 |
69.432 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
(b)
Trade payables |
0.000 |
0.000 |
0.000 |
|
(c)
Other current liabilities |
284.607 |
346.111 |
326.454 |
|
(d)
Short-term provisions |
3.440 |
7.268 |
2.459 |
|
Total
Current Liabilities (4) |
288.047 |
353.379 |
328.913 |
|
|
|
|
|
|
TOTAL |
366.775 |
477.115 |
438.084 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
38.512 |
65.753 |
58.026 |
|
(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) |
2.954 |
2.954 |
2.954 |
|
(d) Long-term Loan
and Advances |
83.057 |
106.560 |
80.533 |
|
(e)
Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
124.523 |
175.267 |
141.513 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
118.022 |
116.573 |
97.294 |
|
(c)
Trade receivables |
114.970 |
180.285 |
187.920 |
|
(d)
Cash and cash equivalents |
9.147 |
4.840 |
11.169 |
|
(e)
Short-term loans and advances |
0.000 |
0.000 |
0.000 |
|
(f)
Other current assets |
0.113 |
0.150 |
0.188 |
|
Total
Current Assets |
242.252 |
301.848 |
296.571 |
|
|
|
|
|
|
TOTAL |
366.775 |
477.115 |
438.084 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
392.151 |
523.300 |
595.943 |
|
|
|
Other Income |
15.093 |
7.914 |
7.391 |
|
|
|
TOTAL |
407.244 |
531.214 |
603.334 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
NA
|
NA
|
NA
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
Less |
TAX |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
10.163 |
8.989 |
9.717 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
508.15 |
449.45 |
485.85 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT/Sales) |
(%) |
2.59 |
1.72 |
1.63 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.34 |
1.54 |
1.75 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.84 |
0.85 |
0.90 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particulars |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Share Capital |
0.200 |
0.200 |
0.200 |
|
Reserves & Surplus |
39.539 |
48.528 |
58.674 |
|
Net
worth |
39.739 |
48.728 |
58.874 |
|
|
|
|
|
|
Long-term borrowings |
69.432 |
75.008 |
19.854 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Total
borrowings |
69.432 |
75.008 |
19.854 |
|
Debt/Equity
ratio |
1.747 |
1.539 |
0.337 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Sales |
595.943 |
523.300 |
392.151 |
|
|
|
(12.190) |
(25.062) |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Sales |
595.943 |
523.300 |
392.151 |
|
Profit |
9.717 |
8.989 |
10.163 |
|
|
1.63% |
1.72% |
2.59% |
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
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 |
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 |
No |
|
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: NO
CHARGES EXIST FOR COMPANY
UNSECURED LOANS
|
PARTICULARS |
31.03.2014 (Rs.
In Million) |
31.03.2013 (Rs.
In Million) |
|
LONG-TERM BORROWINGS |
|
|
|
Loans and
Advance from related parties |
|
|
|
Pooja Sultania |
0.000 |
0.043 |
|
Durga Devi Sultania |
18.651 |
17.176 |
|
Sonal Sultania |
0.252 |
0.000 |
|
Bishnu Kumar Sultania HUF |
8.281 |
7.597 |
|
Mahabir Prasad Sultania HUF |
7.157 |
6.658 |
|
Manoj Kumar Sultania HUF |
7.468 |
6.944 |
|
Durga Associates |
0.038 |
0.000 |
|
Loans from
Directors Sharmila Sultania |
(17.589) |
9.878 |
|
Kusum Sultania |
25.461 |
24.590 |
|
Manoj Kumar Sultania |
3.189 |
3.727 |
|
Bishnu Kumar Sultania |
(33.054) |
(1.673) |
|
|
|
|
|
Total |
19.854 |
74.940 |
FINANCIAL
PERFORMANCE
During the year, the performance of the company has remained
satisfactory.
FIXED ASSETS:
· Air Conditioner
· Electrical Fittings
· Furniture and Fixture
· Office Equipment
· Vehicles
· Generator
· Other Equipment
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No exist to suggest that subject is or was
the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No available
information exist that suggest that subject or any of its principals have been
formally charged or convicted by a competent governmental authority for any
financial crime or under any formal investigation by a competent government
authority for any violation of anti-corruption laws or international anti-money
laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on Corporate
Governance to identify management and governance. These factors often have been
predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 62.16 |
|
|
1 |
Rs. 92.73 |
|
Euro |
1 |
Rs. 68.23 |
INFORMATION DETAILS
|
Information
Gathered by : |
GYT |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
BVA |
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 |
|
--PROFITABILITY |
1~10 |
5 |
|
--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 |
NO |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
48 |
This score serves as a reference to assess
SC’s credit risk and to set the amount of credit to be extended. It is calculated
from a composite of weighted scores obtained from each of the major sections of
this report. The assessed factors and their relative weights (as indicated
through %) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend (10%) Operational size
(10%)
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
-- |
NB |
New Business |
-- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.