MIRA INFORM REPORT
|
Report No. : |
319243 |
|
Report Date : |
25.04.2015 |
IDENTIFICATION DETAILS
|
Name : |
GLOBAL TEXTILE ALLIANCE INDIA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
C/o KNM and Partners, Law Offices, 1st Floor, The Great Eastern Centre, 70, Nehru Place, New Delhi - 110019 |
|
Tel. No.: |
91-11-43115000 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
11.10.2011 |
|
|
|
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Com. Reg. No.: |
226082 |
|
|
|
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Capital
Investment / Paid-up Capital : |
Rs.0.100 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U17299DL2011PTC226082 |
|
|
|
|
TAN No.: [Tax Deduction & Collection
Account No.] |
DELG13730D |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAECG4315R |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
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|
|
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Line of Business
: |
The Company is engaged in the business of manufacturing, sales and export of all kinds of knitted textile fabric. |
|
|
|
|
No. of Employees
: |
58 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca (12) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Moderate |
|
|
|
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Payment Behaviour : |
Slow |
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|
|
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Litigation : |
Clear |
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|
|
Comments : |
Subject is an established company having a moderate track. The company has incurred a huge accumulated loss which has eroded the
networth of the company However, Business is active. Payment terms are slow. The company can be considered for business dealings on safe and
secured 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
|
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 PARTED BY
|
Name : |
Mr. Murugesan |
|
Designation : |
Accounts Manager |
|
Contact No.: |
91-9791904442 |
|
Date : |
25.04.2015 |
LOCATIONS
|
Registered Office : |
C/o KNM and Partners, Law Offices, 1st Floor, The Great Eastern Centre, 70, Nehru Place, New Delhi - 110019, India |
|
Tel. No.: |
91-11-43115000 |
|
Mobile No.: |
91-9791904442 (Mr. Murugesan) |
|
Fax No.: |
91-11-41802200 |
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E-Mail : |
|
|
Website : |
|
|
Location : |
Rented |
|
|
|
|
Factory : |
SF No 149, Chennappa Chetty Pudur Post, Padhuvam, Palli Village, Coimbatore - 641 659, Tamilnadu, India |
DIRECTORS
AS ON 22.09.2014
|
Name : |
Kristel Ann Mia Bisschop |
|
Designation : |
Director |
|
Address : |
Bijlokehof 40/402, Gent, Belgium-9000 |
|
Date of Birth/Age : |
23.04.1970 |
|
Date of Appointment : |
31.10.2012 |
|
DIN No.: |
05185612 |
|
|
|
|
Name : |
Stephen Roger Eric Fieux |
|
Designation : |
Director |
|
Address : |
Pontstraat 98A, Deerlijk, Belgium-8540 |
|
Date of Birth/Age : |
11.01.1967 |
|
Date of Appointment : |
31.10.2012 |
|
DIN No.: |
05185623 |
|
|
|
|
Name : |
Remy Roger Alice Tack |
|
Designation : |
Whole-time director |
|
Address : |
Peperstraat 43, Deinze-9800 |
|
Date of Birth/Age : |
14.07.1992 |
|
Date of Appointment : |
06.02.2015 |
|
DIN No.: |
05260137 |
KEY EXECUTIVES
|
Name : |
Mr. Murugesan |
|
Designation : |
Accounts Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 22.09.2014
|
Names of Shareholders |
|
No. of Shares |
|
Monks International NV, Belgium |
|
9,999 |
|
Oostrofil NV, Belgium |
|
1 |
|
|
|
|
|
Total |
|
10,000 |
Equity Share Break up (Percentage of Total Equity)
AS ON 22.09.2014
|
Category |
Percentage |
|
Foreign holdings( Foreign institutional investor(s),
Foreign companie(s) Foreign financial institution(s), Non-resident Indian(s)
or Overseas Corporate bodies or Others |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
The Company is engaged in the business of manufacturing, sales and export of all kinds of knitted textile fabric. |
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|
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Products : |
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|
|
|
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Brand Names : |
Not Divulged |
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Agencies Held : |
Not Divulged |
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Exports : |
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Products : |
Finished Goods |
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Countries : |
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Imports : |
|
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Products : |
Raw Material |
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Countries : |
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|
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Terms : |
|
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Selling : |
Cash and Cheque |
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Purchasing : |
Cash and Cheque |
PRODUCTION STATUS : NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
Wholesalers and Retailers
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No. of Employees : |
58 (Approximately) |
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Bankers : |
|
|
Auditors : |
|
|
Name : |
SRSU and Company Chartered Accountants |
|
Address : |
First Floor, The Great Eastern Centre, 70, Nehru Place, New Delhi –
110019, India |
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PAN N Income-tax PAN of auditor or auditor's firm : |
ABKFS0514N |
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|
|
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Memberships : |
-- |
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|
|
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Collaborators : |
-- |
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|
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Holding Company: |
Monks International NV, Belgium |
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Associate of
Holding Company : |
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CAPITAL STRUCTURE
As on 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
50,000 |
Equity Shares |
Rs.10/- each |
Rs.0.500 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10,000 |
Equity Shares |
Rs.10/- each |
Rs.0.100
Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED BALANCE
SHEET
|
SOURCES
OF FUNDS |
31.03.2014 |
31.03.2013 |
11.10.2011
TO 31.03.2012 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
0.100 |
0.100 |
0.100 |
|
(b) Reserves & Surplus |
(43.393) |
(15.090) |
0.000 |
|
(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) |
(43.293) |
(14.990) |
0.100 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
308.480 |
84.765 |
9.961 |
|
(b) Deferred tax liabilities
(Net) |
2.133 |
0.009 |
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) |
310.613 |
84.774 |
9.961 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade payables |
8.801 |
0.947 |
0.533 |
|
(c) Other current liabilities |
10.111 |
4.349 |
4.817 |
|
(d) Short-term provisions |
0.618 |
0.191 |
0.000 |
|
Total
Current Liabilities (4) |
19.530 |
5.487 |
5.350 |
|
|
|
|
|
|
TOTAL |
286.850 |
75.271 |
15.411 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
192.061 |
20.963 |
0.000 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital work-in-progress |
0.000 |
0.000 |
8.075 |
|
(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 |
1.303 |
1.364 |
1.000 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
193.364 |
22.327 |
9.075 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
25.983 |
7.592 |
0.538 |
|
(c) Trade receivables |
18.715 |
6.392 |
0.000 |
|
(d) Cash and cash equivalents |
37.572 |
29.473 |
0.094 |
|
(e) Short-term loans and
advances |
11.216 |
9.487 |
5.704 |
|
(f) Other current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
93.486 |
52.944 |
6.336 |
|
|
|
|
|
|
TOTAL |
286.850 |
75.271 |
15.411 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
11.10.2011 TO 31.03.2012 |
|
|
SALES |
|
|
|
|
|
Income |
57.301 |
16.506 |
0.000 |
|
|
Other Income |
|
|
0.000 |
|
|
TOTAL |
57.301 |
16.506 |
0.000 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
TOTAL |
83.480 |
31.587 |
0.000 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
(26.179) |
(15.081) |
0.000 |
|
|
|
|
|
|
|
Less |
TAX |
2.124 |
0.009 |
0.000 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
(28.303) |
(15.090) |
0.000 |
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’ BALANCE BROUGHT
FORWARD |
(15.090) |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
BALANCE CARRIED TO THE
B/S |
(43.393) |
(15.090) |
0.000 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Components and Stores
parts |
8.356 |
0.000 |
0.000 |
|
|
Capital Goods |
49.255 |
2.794 |
4.286 |
|
|
TOTAL IMPORTS |
57.611 |
2.794 |
4.286 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (Rs.) |
|
|
|
|
Basic |
(2,830.24) |
(1,509.04) |
-- |
|
|
Diluted |
(26.19) |
(71.75) |
-- |
|
Particulars |
|
|
31.03.2015 |
|
Sales Turnover (Approximately) |
|
|
170.000 |
The above information has been parted by Mr. Murugesan.
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
Net Profit Margin (PAT / Sales) |
(%) |
NA |
NA |
0.00 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(9.13) |
(20.04) |
0.00 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.60 |
1.01 |
0.00 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
(7.13) |
(5.65) |
99.61 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
4.79 |
9.65 |
1.18 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particular |
11.10.2011 to 31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Share Capital |
0.100 |
0.100 |
0.100 |
|
Reserves & Surplus |
0.000 |
(15.090) |
(43.393) |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net worth |
0.100 |
(14.990) |
(43.293) |
|
|
|
|
|
|
long-term borrowings |
9.961 |
84.765 |
308.480 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Total borrowings |
9.961 |
84.765 |
308.480 |
|
Debt/Equity ratio |
99.610 |
(5.655) |
(7.125) |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
11.10.2011 to 31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Total Income |
0.000 |
16.506 |
57.301 |
|
|
|
247.153 |
NET PROFIT MARGIN
|
Net Profit Margin |
11.10.2011 to 31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Total Income |
0.000 |
16.506 |
57.301 |
|
Profit/Loss |
0.000 |
(15.090) |
(28.303) |
|
|
(91.42%) |
(49.39%) |
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
four 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 |
No |
UNSECURED LOAN
|
PARTICULARS |
31.03.2014 (Rs.
in Million) |
31.03.2013 (Rs.
in Million) |
|
LONG TERM
BORROWINGS |
|
|
|
17.75% Unsecured Fully Convertible Debentures |
201.997 |
19.731 |
|
17.50% Unsecured Fully Convertible Debentures |
19.362 |
19.362 |
|
17.45% Unsecured Fully Convertible Debentures |
45.673 |
0.000 |
|
Amount pending for allotment as FCCD |
41.448 |
45.672 |
|
Total |
308.48 |
84.765 |
|
Note :- The FCD shall carry interest w.e.f. April 1, 2016 payable annually. Each FCD of Rs. 100/- each shall be convertible into 1 (One) Equity share of Rs. 10/- each of the Company at a premium of Rs. 90/- per Equity share. The FCDs shall be convertible into Equity shares of the Company upon expiry of 7 (Seven) years from the date of issue, i.e. 17.75% FCD on June 11, 2019 for Rs. 19.731 Million & on January 20, 2021 for Rs. 182.266 Million 17.50% FCD on December 26, 2019 and 17.45% FCD on July 14, 2020. The FCCD against pending subscription money have been alloted on June 30, 2014 with a coupon rate of 17.75% and shall be convertible into Equity shares of the Company at a premium of Rs. 90/- per equity share after the expiry of 7 years from the date of issue i.e. June 30, 2021. |
||
CONTINGENT
LIABILITIES:
|
PARTICULARS |
31.03.2014 (Rs.
in Million) |
31.03.2013 (Rs.
in Million) |
|
Bank Guarantees given to The Commissioner of Customs, Tuticorin |
0.732 |
0.732 |
|
Bank Guarantee given to the Commissioner of Customs, Chennai |
9.720 |
0.000 |
|
Total |
10.452 |
0.732 |
BACKGROUND
The company was incorporated on October 11, 2011 as a Private Limited Company in India. The Company is engaged in the business of manufacturing, sales and export of all kinds of knitted textile fabric.
OVERVIEW AND
OPERATIONS
The Company was incorporated on October 11, 2011 with the Registrar of Companies, NCT of Delhi & Haryana. The Company is engaged in the business of manufacturing and sales of knitted yarn of all types. The Company incurred a net loss of Rs. 28.303 Million during the year (previous year loss of Rs. 15.090 Million).
FUTURE PLANS
The Company shall make efforts to increase its manufacturing capacity and strive to achieve profitability.
INDEX OF CHARGES : NO
CHARGES EXIST FOR COMPANY
FIXED ASSETS
- Land
- Building
- Plant and Machinery
- Electric Installation and Fittings
- Furniture and Fixtures
- Office Equipments
- Lease Hold Improvements
- Vehicles
- Computer and Sofwares
- Internal Transport
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 records 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.63.40 |
|
|
1 |
Rs.95.42 |
|
Euro |
1 |
Rs.68.49 |
INFORMATION DETAILS
|
Information
Gathered by : |
GYT |
|
|
|
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
SNT |
|
|
|
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
2 |
|
PAID-UP CAPITAL |
1~10 |
2 |
|
OPERATING SCALE |
1~10 |
1 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
2 |
|
--PROFITABILITY |
1~10 |
1 |
|
--LIQUIDITY |
1~10 |
1 |
|
--LEVERAGE |
1~10 |
1 |
|
--RESERVES |
1~10 |
1 |
|
--CREDIT LINES |
1~10 |
1 |
|
--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 |
|
12 |
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.