MIRA INFORM REPORT

 

 

Report No. :

317846

Report Date :

17.04.2015

 

IDENTIFICATION DETAILS

 

Name :

YOSHAMA AND COMPANY PRIVATE LIMITED

 

 

Registered Office :

No. 94, S.V. Road, Mumbai – 400056, Maharashtra

 

 

Tel. No.:

91-80-23350025

 

 

Country :

India

 

 

Financials (as on) :

31.03.2014

 

 

Date of Incorporation :

03.03.1972

 

 

Com. Reg. No.:

11-015651

 

 

Capital Investment / Paid-up Capital :

Rs. 0.356 Million

 

 

CIN No.:

[Company Identification No.]

U74999MH1972PTC015651

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

MUMY01103E

 

 

PAN No.:

[Permanent Account No.]

AAACY0163D

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Manufacturer of Springs and Wireforms.

 

 

No. of Employees :

Information declined by management

 

 

RATING & COMMENTS

 

MIRA’s Rating :

B (31)

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Status :

Moderate

 

 

Payment Behaviour :

Slow but correct

 

 

Litigation :

Clear

 

 

Comments :

Subject is an established company having a moderate track record.

 

The company has reported low profitability during the financial year 2013-14.

 

The rating further gets constrained due to moderate capital structure and inadequate liquidity possessed by the company.

 

However, trade relations are fair. Business is active. Payments are reported to be slow but correct.

 

The company can be considered for normal 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.

 

 

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 DECLINED

 

MANAGEMENT NON-COOPERATIVE (Tel. No.: 91-80-233500)

 

 

LOCATIONS

 

Registered Office :

No. 94, S.V. Road, Mumbai – 400056, Maharashtra, India

Tel. No.:

91-22-22087068

Mobile No.:

91-9741750025 (Mr. Vivek Yogesh Bhatt)

Fax No.:

Not Available

E-Mail :

ks.nagesh@yahoo.co.in

info@yoshamasprings.com

Website :

http://www.yoshamasprings.com

 

 

Factory :

No. 6411, 3rd Cross, S.S.I. Area, Post Box #1030, Rajajinagar, Bangalore - 560010, Karnataka, India

Tel. No.:

91-80-23350025 / 23350237

Fax No.:

91-80-23381799

 

 

DIRECTORS

 

As on 30.09.2014

 

Name :

Mr. Yogesh Vishwanath Bhatt

Designation :

Managing Director

Address :

No. 639, 9th Main, 3rd Stage, 3rd Block, Basaveshwara Nagar, Bangalore – 560079, Karnataka, India

Date of Birth/Age :

22.01.1944

Date of Appointment :

13.03.1972

DIN No. :

00330096

 

 

Name :

Mr. Vivek Yogesh Bhatt

Designation :

Director

Address :

No. 639, 9th Main 3rd Stage, 3rd Block, Basaveshwara Nagar, Bangalore – 560079, Karnataka, India

Date of Birth/Age :

03.01.1977

Date of Appointment :

30.08.2005

DIN No. :

01312133

 

 

Name :

Nagasamudram Sree Padarao Raghu Prasad

Designation :

Director

Address :

No. 62/1, 6th Main, 15th A Cross, Mallesgwaram, Bangalore – 560055, Karnataka, India

Date of Birth/Age :

09.12.1959

Date of Appointment :

15.11.1989

DIN No. :

01339462

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

As on 30.09.2014

 

Names of Shareholders

 

No. of Shares

Percentage of Holding

Yogesh Vishwanath Bhatt

3183

89.51

Vivek Yogesh Bhatt

373

10.49

Total

3556

100.00

 

 

 

As on 30.09.2014

 

Equity Share Break up (Percentage of Total Equity)

 

Category

Percentage of Holding

Directors or relatives of Directors

100.00

Total

100.00

 

 

BUSINESS DETAILS

 

Line of Business :

Manufacturer of Springs and Wireforms.

 

 

Products :

·         Springs

·         Wireforms

 

 

Brand Names :

--

 

 

Agencies Held :

--

 

 

Exports :

--

 

 

Imports :

--

 

 

Terms :

--

 

PRODUCTION STATUS: NOT AVAILABLE

 

 

GENERAL INFORMATION

 

Suppliers :

Reference:

Not Divulged

Name of the Person (with Designation):

Not Divulged

Contact Number:

Not Divulged

Since How Long Known:

Not Divulged

Maximum Limit Dealt:

Not Divulged

Experience :

Not Divulged

Remarks :

Not Divulged

 

·         Anka International

·         Jainex Limited

·         Mehta Creations

·         Nahata Industrial Stores

·         Om Logistics Limited

·         IBEX Products Private Limited

·         Padmini Pharma Industries

·         V.B. Enterprises

·         Vishnu Medical and General Stores

·         SVK Enterprises

 

 

Customers :

Reference:

Not Divulged

Name of the Person (with Designation):

Not Divulged

Contact Number:

Not Divulged

Since How Long Known:

Not Divulged

Maximum Limit Dealt:

Not Divulged

Experience :

Not Divulged

Remarks :

Not Divulged

 

·         Race Tech

·         S.K. Trading Company

·         Sunrise Sales Corporation

·         The New Ball Bearing Co.

·         V.B. Enterprises

·         Soni Steels

·         Micro Lab Limited

·         IST Limited

·         Imanes Private Limited

·         Bony Polymers (Private) Limited

 

 

No. of Employees :

Information declined by management

 

 

Bankers :

Bank Name:

Not Divulged

Branch:

Not Divulged

Name of the Person (with Designation):

Not Divulged

Contact Number:

Not Divulged

Name of Account Holder:

Not Divulged

Account Number:

Not Divulged

Account Since (Date/ Year of A/c Opening):

Not Divulged

Average Balance Maintained (Optional):

Not Divulged

Credit Facilities Enjoyed (CC/OD/Term Loan):

Not Divulged

Account Operation:

Not Divulged

Remarks: Not Divulged

 

·         HDFC Bank Limited, HDFC Bank Housesenapati Bapat Marg, Lower Parel (West), Mumbai - 400013, Maharashtra, India

 

·         State Bank of India, SME City Credit Centre, Seshadripuram, Badaganadu Sangha Building Kumara Park, Bangalore - 560020, Karnataka, India

 

·         State Bank of India, Commercial Branch; Rajajinagar, Industrial Ksatate, Rajajinagar, Bangalore - 560044, Karnataka, India

 

 

Facilities :

SECURED LOANS

31.03.2014

(Rs. In Million)

31.03.2013

(Rs. In Million)

LONG TERM BORROWINGS

 

 

Term Loan from HDFC – 3357279

0.000

0.025

Term Loan from HDFC - 3366689

0.260

0.394

Term Loan from HDFC – 3377829

0.234

0.327

Bankers Credit – 10663113

0.000

3.803

Term Loan No. 3420833

0.651

0.760

 

 

 

SHORT TERM BORROWINGS

 

 

Cash Credit account with HDFC

5.460

5.363

Total

6.605

10.672

 

NOTE :

 

LONG TERM BORROWINGS

 

a. Term loan from with HDFC Bank – 3357279 has been secured by mortgage of No. 6411, 3rd Cross, SSI Area, Rajajinagar, Bangalore – 560010, Karnataka, India

Terms of Repayment: Repayable in 38 monthly installments starting from April 2011 with fluctuating interest rate.

 

b. Term loan from with HDFC Bank – 33366689 has been secured by mortgage of No. 6411, 3rd Cross, SSI Area, Rajajinagar, Bangalore – 560010, Karnataka, India

Terms of Repayment: Repayable in 60 monthly installments starting from June 2011 with fluctuating interest rate.

 

c. Term loan from with HDFC Bank – 3377829 has been secured by mortgage of No. 6411, 3rd Cross, SSI Area, Rajajinagar, Bangalore – 560010, Karnataka, India

Terms of Repayment: Repayable in 60 monthly installments starting from August 2011 with fluctuating interest rate.

 

d. Bankers Credit – 10663113 availed for 3 years term is secured by Fixed Deposit worth Rs. 0.800 Million and recurring deposit of Rs. 0.090 Million for 30 months starting from Jan 2012.

 

e. Term loan from with HDFC Bank – 3420833 has been secured by mortgage of No. 6411, 3rd Cross, SSI Area, Rajajinagar, Bangalore – 560010, Karnataka, India

Terms of Repayment: Repayable in 60 monthly installments starting from May 2011 with fluctuating interest rate.

 

SHORT TERM BORROWINGS

 

Secured by hypothecation of company building and personal guarantee given by directors.

 

Banking Relations :

--

 

 

Auditors :

 

Name :

S Janardhan and Associates

Chartered Accountants

Address :

Apt No. 103 and 106, Embassy Centre, No.11, Crescent Road, Bangalore – 560001, Karnataka, India

Tel. No. :

91-80-22265438/ 22260055/ 22202709

Fax No. :

91-80-22265572

E-Mail :

ca.sjassociates@gmail.com

Income-tax PAN of auditor or auditor's firm :

AACFM2246C

 

 

Memberships :

--

 

 

Collaborators :

--

 

 

Associates/Subsidiaries :

--

 

 

CAPITAL STRUCTURE

 

As on 30.09.2014

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

10,000

Equity Shares

Rs.100/- each

Rs. 1.000 Million

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

3,556

Equity Shares

Rs.100/- each

Rs. 0.356 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

0.356

0.356

0.356

(b) Reserves & Surplus

8.338

8.213

8.195

(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)

8.694

8.569

8.551

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) Long-term Borrowings

3.211

7.655

8.575

(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

1.455

1.455

1.565

Total Non-current Liabilities (3)

4.666

9.110

10.140

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term Borrowings

5.460

5.363

5.326

(b) Trade Payables

3.157

2.630

1.558

(c) Other Current Liabilities

7.535

2.601

2.713

(d) Short-term Provisions

0.143

-0.015

0.000

Total Current Liabilities (4)

16.295

10.579

9.597

 

 

 

 

TOTAL

29.655

28.258

28.288

 

 

 

 

II.            ASSETS

 

 

 

(1) Non-Current Assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible Assets

10.561

12.742

12.745

(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

0.003

0.003

0.003

(c) Deferred Tax Assets (net)

0.972

0.805

0.844

(d)  Long-term Loan and Advances

0.291

0.286

0.224

(e) Other Non-Current Assets

3.540

2.289

1.593

Total Non-Current Assets

15.367

16.125

15.409

 

 

 

 

(2) Current Assets

 

 

 

(a) Current Investments

0.000

0.000

0.000

(b) Inventories

4.576

4.705

3.477

(c) Trade Receivables

9.041

7.164

8.115

(d) Cash and Cash Equivalents

0.609

0.128

0.545

(e) Short-term Loans and Advances

0.062

0.136

0.742

(f) Other Current Assets

0.000

0.000

0.000

Total Current Assets

14.288

12.133

12.879

 

 

 

 

TOTAL

29.655

28.258

28.288

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

31.03.2014

31.03.2013

31.03.2012

 

SALES

 

 

 

 

 

Income

24.642

21.276

23.347

 

 

Other Income

0.466

0.002

0.125

 

 

TOTAL                                     (A)

25.108

21.278

23.472

 

 

 

 

 

Less

EXPENSES

 

 

 

 

 

Cost of Materials Consumed

6.089

4.511

4.860

 

 

Changes in inventories of finished goods, work-in-progress and Stock-in-Trade

(0.022)

(0.078)

0.173

 

 

Employees benefits expense

8.846

7.258

7.255

 

 

Other expenses

6.390

5.333

7.012

 

 

Exceptional Items

0.000

0.000

1.254

 

 

TOTAL                                     (B)

21.303

17.024

20.554

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B)     (C)

3.805

4.254

2.918

 

 

 

 

 

Less

FINANCIAL EXPENSES                                    (D)

1.413

1.479

1.633

 

 

 

 

 

 

PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D)                               (E)

2.392

2.775

1.285

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION                     (F)

2.269

2.718

2.426

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE TAX (E-F)                (G)           

0.123

0.057

(1.141)

 

 

 

 

 

Less

TAX                                                                  (H)

(0.002)

0.039

(0.357)

 

 

 

 

 

 

PROFIT/ (LOSS)  AFTER TAX (G-H)                  (I)

0.125

0.018

(0.784)

 

 

 

 

 

 

Earnings / (Loss) Per Share (Rs.)

0.64

0.09

(4.02)

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2014

31.03.2013

31.03.2012

Net Profit Margin

(PAT/Sales)

(%)

0.51

0.08

-3.36

 

 

 

 

 

Operating Profit Margin

(PBDIT/Sales)

(%)

15.44

19.99

12.50

 

 

 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)

0.43

0.21

-4.16

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

0.01

0.01

-0.13

 

 

 

 

 

Debt Equity Ratio

(Total Debt/Networth)

 

1.00

1.52

1.63

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

0.88

1.15

1.34

 

 

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

0.356

0.356

0.356

Reserves & Surplus

8.195

8.213

8.338

Net worth

8.551

8.569

8.694

 

 

 

 

long-term borrowings

8.575

7.655

3.211

Short term borrowings

5.326

5.363

5.460

Total borrowings

13.901

13.018

8.671

Debt/Equity ratio

1.626

1.519

0.997

 

 

 

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

23.347

21.276

24.642

 

 

(8.871)

15.821

 

 

 

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

23.347

21.276

24.642

Profit/ (Loss)

(0.784)

0.018

0.125

 

(3.36%)

0.08%

0.51%

 

 

 

LOCAL AGENCY FURTHER INFORMATION

 

CURRENT MATURITIES OF LONG TERM DEBTS

 

Particulars

31.03.2014

(Rs. In Millions)

31.03.2013

(Rs. In Millions)

31.03.2012

(Rs. In Millions)

 

 

 

 

Current Maturities of Long Term Debts

 

 

 

Term Loan with HDFC Bank

0.631

1.502

1.154

Bankers Credit - 10663113

4.545

0.000

0.000

Total
5.176

1.502

1.154

 

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

Yes

18]

Major customers

Yes

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

10284972

16/12/2011 *

1,320,000.00

HDFC BANK LIMITED

HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL (WEST), MUMBAI - 400013, MAHARASHTRA, INDIA

B28977817

2

10275427

06/05/2014 *

16,475,000.00

HDFC BANK LIMITED

HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL (WEST), MUMBAI - 400013, MAHARASHTRA, INDIA

C17120874

 

* Date of charge modification

 

 

UNSECURED LOANS

 

PARTICULAR

31.03.2014

(Rs. In Million)

31.03.2013

(Rs. In Million)

LONG TERM BORROWINGS

 

 

Loan from Shareholders

2.066

2.346

Total

2.066

2.346

 

 

CHANGE OF ADDRESS

 

The registered office of the company has been shifted from Mumbai - 400056, Maharashtra, India to present address w.e.f. 14.12.2007

 

 

CONTINGENT LIABILITIES:

 

PARTICULARS

31.03.2013

(Rs. In Millions)

31.03.2012

(Rs. In Millions)

 

 

 

 

 

 

 

 

FIXED ASSETS

 

·         Building

·         Plant and Machinery

·         Electrical Installation

·         Computer

·         Software

·         Office Equipments

·         Furniture and Fixtures

·         Vehicle

·         Generator Set

·         Digital Spring

·         Weighing Scale

 

 

CMT REPORT (Corruption, Money Laundering & Terrorism]

 

The Public Notice information has been collected from various sources including but not limited to: The Courts, India Prisons Service, Interpol, etc.

 

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.62.37

UK Pound

1

Rs.92.44

Euro

1

Rs.66.56

 

 

INFORMATION DETAILS

 

Information Gathered by :

SVA

 

 

Analysis Done by :

SUC

 

 

Report Prepared by :

MRI

 

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

5

PAID-UP CAPITAL

1~10

3

OPERATING SCALE

1~10

4

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

4

--PROFITABILITY

1~10

3

--LIQUIDITY

1~10

3

--LEVERAGE

1~10

3

--RESERVES

1~10

3

--CREDIT LINES

1~10

3

--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

 

31

 

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

 

--

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.