MIRA INFORM REPORT
|
Report No. : |
317506 |
|
Report Date : |
15.04.2015 |
IDENTIFICATION DETAILS
|
Name : |
RADEUS ADVERTISING PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
G-1, Paragon Condominium, Pandurang Budhkar Marg, Mumbai – 400013,
Maharashtra |
|
Tel. No.: |
91-22-61437000 / 61430923 |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
08.06.1973 |
|
|
|
|
Com. Reg. No.: |
11-016583 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.10.100
Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74300MH1973PTC016583 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMR14916G |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACR5190H |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Advertising for media |
|
|
|
|
No. of Employees
: |
Information declined by the management. |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (52) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a well-established company having fine track record. The rating reflects company’s healthy financial risk profile marked by
adequate liquidity position and sound profitability margins of the company. Trade relations are reported as fair. Business is active. Payments are
reported to be regular and as per commitments. The company can be considered good for normal 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.
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 DENIED BY
|
Name : |
Mr. Kirti Shah |
|
Designation : |
Accounts Manager |
|
Contact No.: |
91-22-61437000 |
|
Date : |
14.04.2015 |
LOCATIONS
|
Registered Office : |
G-1, Paragon Condominium, Pandurang Budhkar Marg, Mumbai – 400013,
Maharashtra, India |
|
Tel. No.: |
91-22-61437000/ 61430923 |
|
Fax No.: |
91-22-61437098 |
|
E-Mail : |
anju.kurian@amnicommediagroup.com
nalini.lalvani@omnicommediagroup.com
barry.cupples@omnicommediagroup.com
|
DIRECTORS
(AS ON 17.12.2014)
|
Name : |
Ms. Nalini Ajay Lalvani |
|
Designation : |
Whole Time Director |
|
Address : |
A-1701, 17th Floor, Vivarea, Sane Guruji Marg, Jacob
Circle, Mumbai-400011, Maharashtra, India |
|
Date of Birth/Age : |
29.04.1964 |
|
Date of Appointment : |
13.04.2011 |
|
Din No.: |
00586061 |
|
|
|
|
Name : |
Jasmin Jahangir Sohrabji |
|
Designation : |
Whole Time directors |
|
Address : |
8th Floor, Flat No.24, Kalaniketan, 47C, Bhulabhai Desai
Road, Mumbai – 400026, Maharashtra, India |
|
Date of Birth/Age : |
08.07.1963 |
|
Date of Appointment : |
30.09.2009 |
|
Din No.: |
02402195 |
|
|
|
|
Name : |
Mr. Davind George Devonshire |
|
Designation : |
Director |
|
Address : |
349A, Pasir Panjang Road, # 05-05, Murano-117484, Singapore |
|
Date of Birth/Age : |
01.12.1969 |
|
Date of Appointment : |
30.09.2011 |
|
Din No.: |
03388282 |
|
|
|
|
Name : |
Mr. Harish Rama Shriyan |
|
Designation : |
Whole Time Director |
|
Address : |
303, |
|
Date of Birth/Age : |
16.05.1961 |
|
Date of Appointment : |
30.09.2009 |
|
DIN No. : |
02402221 |
|
|
|
|
Name : |
Mr. Cheuk Tau Chiang |
|
Designation : |
Director |
|
Address : |
48, Margoliouth Road, Singapore 258570 |
|
Date of Birth/Age : |
28.09.1970 |
|
Date of Appointment : |
17.12.2014 |
|
DIN No. : |
06751607 |
KEY EXECUTIVES
|
Name : |
Mr. Kirti Shah |
|
Designation : |
Accounts Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
(AS ON 17.12.2014)
|
Names of Shareholders |
No. of Shares |
Percentage |
|
|
|
|
|
TBWA Anthem Private Limited, India |
100990 |
99.99 |
|
Manosh Mukherjee |
10 |
0.01 |
|
|
|
|
|
Total |
101000 |
100.00 |
(AS ON 17.12.2014)
Equity Shares Break – up
|
Category |
|
Percentage |
|
|
|
|
|
Bodies
corporate |
|
99.99 |
|
Directors
or relatives of directors |
|
0.01 |
|
|
|
|
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Advertising for media |
|
|
|
|
Brand Names : |
Not Divulged |
|
|
|
|
Agencies Held : |
Not Divulged |
|
|
|
|
Exports : |
Not Divulged |
|
|
|
|
Imports : |
Not Divulged |
|
|
|
|
Terms : |
Not Divulged |
PRODUCTION STATUS : NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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No. of Employees : |
Information declined by the management. |
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Bankers : |
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||||||||||||||||||||||
|
Bankers : |
|
|
Auditors : |
|
|
Name : |
B S R and Company LLP Chartered Accountants |
|
Address : |
Lodha Excelus, 1st Floor, Apollo Mills Compound, N. M.
Joshi Marg, Mumbai – 400011, Maharashtra, India |
|
Tel. No.: |
91-22-39896000 |
|
Fax No.: |
91-22-30902511 |
|
PAN No: |
AAAFB9852F |
|
|
|
|
Memberships : |
-- |
|
|
|
|
Collaborators : |
-- |
|
|
|
|
Holding Company : |
· TBWA Anthem Private Limited CIN No.: U74899DL1988PTC030649 |
|
|
|
|
Ultimate Holding Company: |
· Omnicom Group Inc., USA |
|
|
|
|
Other Related Parties (fellow subsidiaries) where common control
exists and with whom transaction during the year have taken place : |
·
OMD Singapore Pte Limited ·
Omnicom Media Group Asiapacific Pte Limited ·
Omnicom Media Group Ince., USA ·
OMD International ·
OMD USA Inc ·
OMD Thailand ·
Brandscience ·
PHD Singapore Pte Limited ·
OMD New York ·
OMD Dubai |
|
|
|
|
Related parties disclosure and their relationship: |
·
PHD Network ·
Flow Digital Pte Limited ·
PHD Germany ·
OMD Australia ·
PHD USA ·
Mudra Online Technologies Private Limited ·
PHD Abu Dhabi ·
Omnicom Media group Germany GMBH ·
Annalect ·
BBDO New York ·
OMD FZ LLC ·
OMG Europe ·
Total Media Direction ·
DDB Mudra Max Private Limited ·
The Media Group Private Limited ·
OMD UK ·
OMD Hong Kong ·
OMG Network India Private Limited ·
Diversified Agency Services – OMG Europe ·
OMD Sydney ·
Omnicom India Mktg Advisory Ser P L ·
OMD (M) SDN BHD ·
PHD Media (M) SDN BHD ·
OMD Philippines Inc. ·
PHD Media Network 2006, Inc ·
M2M Advertising Phils, Inc ·
Optimum Media Direction (Thailand) Company
Limited ·
PHD (Thailand) Company Limited ·
PT Omnicom Media Group Indonesia |
CAPITAL STRUCTURE
(AS ON 31.03.2014)
Authorised Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
105000 |
Equity Shares |
Rs.100/- each |
Rs.10.500 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
101000 |
Equity Shares |
Rs.100/-
each |
Rs.10.100
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 |
10.100 |
10.100 |
10.100 |
|
(b) Reserves & Surplus |
123.432 |
46.146 |
10.668 |
|
(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) |
133.532 |
56.246 |
20.768 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
11.400 |
10.036 |
5.849 |
|
(d) long-term
provisions |
18.683 |
19.430 |
13.443 |
|
Total Non-current
Liabilities (3) |
30.083 |
29.466 |
19.292 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term
borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade
payables |
3584.475 |
2951.339 |
1917.291 |
|
(c) Other
current liabilities |
554.739 |
390.074 |
449.791 |
|
(d) Short-term
provisions |
2.688 |
2.141 |
1.570 |
|
Total Current
Liabilities (4) |
4141.902 |
3343.554 |
2368.652 |
|
|
|
|
|
|
TOTAL |
4305.517 |
3429.266 |
2408.712 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
32.199 |
20.136 |
21.715 |
|
(ii)
Intangible Assets |
1.701 |
1.473 |
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) |
44.496 |
25.765 |
15.397 |
|
(d) Long-term Loan and Advances |
528.649 |
326.236 |
276.770 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
607.045 |
373.610 |
313.882 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
0.000 |
0.000 |
0.000 |
|
(c) Trade receivables |
1587.068 |
1372.280 |
1747.158 |
|
(d) Cash
and cash equivalents |
150.749 |
178.157 |
211.750 |
|
(e)
Short-term loans and advances |
23.907 |
37.637 |
26.895 |
|
(f) Other
current assets |
1936.748 |
1467.582 |
109.027 |
|
Total
Current Assets |
3698.472 |
3055.656 |
2094.830 |
|
|
|
|
|
|
TOTAL |
4305.517 |
3429.266 |
2408.712 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
|
678.989 |
|
|
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL |
678.989 |
490.250 |
383.712 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
570.144 |
445.839 |
338.112 |
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
108.845 |
44.411 |
45.600 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
31.559 |
8.933 |
21.767 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
77.286 |
35.478 |
23.833 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN CURRENCY |
561.993 |
31.716 |
NA |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
765.21 |
351.27 |
235.97 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
PAT / Total Income |
(%) |
11.38 |
7.24 |
6.21 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.55 |
1.30 |
1.91 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.82 |
0.79 |
2.20 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.89 |
0.91 |
0.88 |
FINANCIAL ANALYSIS
[All figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Share Capital |
10.100 |
10.100 |
10.100 |
|
Reserves & Surplus |
10.668 |
46.146 |
123.432 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net worth |
20.768 |
56.246 |
133.532 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Total borrowings |
0.000 |
0.000 |
0.000 |
|
Debt/Equity ratio |
0.000 |
0.000 |
0.000 |
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 |
383.712 |
490.250 |
678.989 |
|
|
|
27.765 |
38.499 |
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 |
383.712 |
490.250 |
678.989 |
|
Profit |
23.833 |
35.478 |
77.286 |
|
|
6.21% |
7.24% |
11.38% |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITY
OF LONG TERM BORROWINGS DETAIL: 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 |
Yes |
|
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 |
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:
|
S.NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
90163490 |
20/12/1994 * |
500,000.00 |
THE SARASWAT CO-OP. BANK LTD |
CENTRAL
ADMINISTRATIVE OFFICE; APSARA CINEMA BLDG, |
- |
|
2 |
90160851 |
20/12/1994 |
2,000,000.00 |
THE SARASWAT CO-OP. BANK LTD |
CENTRAL ADMINISTRATIVE
OFFICE; APSARA CINEMA BLDG, |
- |
|
3 |
90163029 |
17/11/1994 |
1,005,000.00 |
THE SARASWAT CO-OP. BANK LTD |
CENTRAL
ADMINISTRATIVE OFFICE; APSARA CINEMA BLDG, |
- |
|
4 |
90161344 |
03/09/1973 |
300,000.00 |
THE SARASWAT CO-OP. BANK LTD |
NIKADWARI LANE,
GIRGAUM, BOMBAY, MAHARASHTRA - 40 |
- |
* Date of charge modification
COMPANY OVERVIEW:
Subject was
incorporated in India on 8 June 1973. The Company is a wholly owned subsidiary
of TBWA Anthem Private Limited and is in the business of providing media
planning, buying and implementation services and other related advertising/media
services to its clients. The ultimate holding company is Omnicom Group Inc,
USA.
NOTE:
Registered office of the company has been shifted from 629,
Madhusudan Kalekar Marg, Bandra (East), Mumbai- 400 051,
FIXED ASSETS:
· Computers
· Office Equipment
· Furniture and Fixtures
· Leasehold Improvements
· Computer Softaware
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.62.39 |
|
|
1 |
Rs.91.06 |
|
Euro |
1 |
Rs.66.16 |
INFORMATION DETAILS
|
Information Gathered
by : |
PPT |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
SNT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--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 |
|
52 |
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.