MIRA INFORM REPORT
|
Report No. : |
318889 |
|
Report Date : |
25.04.2015 |
IDENTIFICATION DETAILS
|
Name : |
STERLING LAM LIMITED |
|
|
|
|
Registered
Office : |
Block No.123, At Mahiyal, Taluka Talod, Sabarkantha – 383 215, |
|
Tel. No.: |
91-2770-220300 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
01.07.2004 |
|
|
|
|
Com. Reg. No.: |
04-044396 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 20.769 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U25209GJ2004PLC044396 |
|
|
|
|
IEC No.: |
0805002537 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
SRTS05209B AHMS11761B |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAICS5496D |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Decorative Laminates. |
|
|
|
|
No. of Employees
: |
200 (Approximately) |
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 |
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|
|
Comments : |
The subject is an established company having a moderate track record. The company has reported a low profitability during FY2014. However, trade relations are fair. Business is active. Payments are
reported to be slow but correct as company possesses moderate liquidity. The company can be considered for business dealing 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 PARTED BY
|
Name : |
Mr. Alkesh Joshi |
|
Designation : |
Accounts Manager |
|
Contact No.: |
91-9376550700 |
|
Date : |
21.04.2015 |
LOCATIONS
|
Registered Office/ Factory : |
Block No.123, At Mahiyal, Taluka Talod, Sabarkantha – 383 215, Gujarat,
India |
|
Tel. No.: |
91-2770-220300 |
|
Mobile No.: |
91-9376550700 (Mr. Alkesh Joshi) |
|
Fax No.: |
91-2770-220500 |
|
E-Mail : |
|
|
Website : |
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|
Location : |
Owned |
|
|
|
|
Branch Office : |
9, |
DIRECTORS
As on 30.09.2014
|
Name : |
Mr. Amrutbhai Karsanbhai Patel |
|
Designation : |
Director |
|
Address : |
Opposite V.D. Mehta Petrol Pump, At Talod, District Sabarkantha – 383
215, Gujarat |
|
Date of Birth/Age : |
23.07.1958 |
|
Date of Appointment : |
30.09.2005 |
|
DIN No.: |
00314335 |
|
|
|
|
Name : |
Mr. Dharmeshbhai Mansukhbhai Patel |
|
Designation : |
Director |
|
Address : |
9, Parag Society, Near Mangalam Cinema, Odhav, Ahmedabad – 382 415, |
|
Date of Birth/Age : |
01.03.1981 |
|
Date of Appointment : |
01.07.2004 |
|
DIN No.: |
00314086 |
|
|
|
|
Name : |
Mr. Arvindbhai Vashrambhai Patel |
|
Designation : |
Director |
|
Address : |
Paras Society, Near GEB at Talod, District Sabarkantha – 383 215,
Gujarat |
|
Date of Birth/Age : |
23.09.1965 |
|
Date of Appointment : |
30.09.2005 |
|
DIN No.: |
00314312 |
|
|
|
|
Name : |
Mr. Harshadbhai Valjibhai Patel |
|
Designation : |
Director |
|
Address : |
Opposite V.D. Mehta Petrol Pump, At Talod, District Sabarkantha – 383
215, Gujarat |
|
Date of Birth/Age : |
10.10.1966 |
|
Date of Appointment : |
01.07.2004 |
|
DIN No.: |
00314137 |
KEY EXECUTIVES
|
Name : |
Mr. Alkesh Joshi |
|
Designation : |
Accounts Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2014
SHAREHOLDERS DETAILS FILE ATTACHED
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Bodies corporate |
4.95 |
|
Directors or relatives of Directors |
94.64 |
|
Other top fifty shareholders |
0.41 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Decorative Laminates. |
|
|
|
|
Products : |
Lamination Sheet |
|
|
|
|
Brand Names : |
Not Available |
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|
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Agencies Held : |
Not Available |
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|
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Exports : |
Not Available |
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|
|
|
Imports : |
|
|
Products : |
Raw Material |
|
Countries : |
v
v
|
|
|
|
|
Terms : |
|
|
Selling : |
Cash and Credit (30/60/90 Days) |
|
|
|
|
Purchasing : |
Cash and Credit (30/60/90 Days) |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
End Users and OEM’s
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No. of Employees : |
200 (Approximately) |
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Bankers : |
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Facilities : |
(Rs.
In Million)
|
|
Auditors : |
|
|
Name : |
Deepak R. Soni and Company Chartered Accountants |
|
Address : |
Opposite |
|
Tel. No.: |
91-2772-242780/242781 |
|
E-Mail : |
|
|
PAN No.: |
ACDPS9854R |
|
|
|
|
Memberships : |
Not Available |
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|
|
|
Collaborators : |
Not Available |
|
|
|
|
Associates : |
|
CAPITAL STRUCTURE
After 30.09.2014
Authorised Capital : Rs.30.000 million
Issued, Subscribed & Paid-up Capital : Rs.21.634 Million
As on 30.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3,000,000 |
Equity Shares |
Rs.10/- each |
Rs.30.000 million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2,076,850 |
Equity Shares |
Rs.10/- each |
Rs.20.769
million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
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 |
20.769 |
20.769 |
20.769 |
|
(b) Reserves & Surplus |
123.526 |
120.265 |
116.974 |
|
(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) |
144.295 |
141.034 |
137.743 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
97.641 |
62.681 |
64.862 |
|
(b) Deferred tax liabilities
(Net) |
1.893 |
2.443 |
2.933 |
|
(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) |
99.534 |
65.124 |
67.795 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
124.785 |
104.256 |
87.591 |
|
(b) Trade payables |
128.361 |
121.957 |
101.106 |
|
(c) Other current liabilities |
18.038 |
16.340 |
20.080 |
|
(d) Short-term provisions |
3.885 |
2.576 |
2.091 |
|
Total
Current Liabilities (4) |
275.069 |
245.129 |
210.868 |
|
|
|
|
|
|
TOTAL |
518.898 |
451.287 |
416.406 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
107.138 |
117.022 |
123.593 |
|
(ii) Intangible Assets |
0.134 |
0.149 |
0.165 |
|
(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 |
4.680 |
6.030 |
5.001 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
5.377 |
2.325 |
1.418 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
117.329 |
125.526 |
130.177 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
171.845 |
117.153 |
108.205 |
|
(c) Trade receivables |
205.288 |
201.469 |
172.457 |
|
(d) Cash and cash equivalents |
18.167 |
3.164 |
1.457 |
|
(e) Short-term loans and
advances |
0.000 |
0.000 |
0.000 |
|
(f) Other current assets |
6.269 |
3.975 |
4.110 |
|
Total
Current Assets |
401.569 |
325.761 |
286.229 |
|
|
|
|
|
|
TOTAL |
518.898 |
451.287 |
416.406 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Income |
455.355 |
405.901 |
355.481 |
|
|
Other Income |
1.401 |
0.494 |
2.014 |
|
|
TOTAL
(A) |
456.756 |
406.395 |
357.495 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
326.235 |
284.291 |
268.954 |
|
|
Purchases of Stock-in-Trade |
13.705 |
5.741 |
5.489 |
|
|
Changes in inventories of finished
goods, work-in-progress and Stock-in-Trade |
(17.189) |
(0.240) |
(9.928) |
|
|
Employees benefits expense |
31.833 |
24.671 |
16.139 |
|
|
Manufacturing expenses |
19.704 |
17.789 |
13.278 |
|
|
Selling, Administration and
Other expenses |
37.412 |
33.136 |
24.665 |
|
|
TOTAL
(B) |
411.700 |
365.388 |
318.597 |
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (C) |
45.056 |
41.007 |
38.898 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
24.475 |
20.499 |
21.587 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
20.581 |
20.508 |
17.311 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION (F) |
15.801 |
16.969 |
15.020 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F) (G) |
4.780 |
3.539 |
2.291 |
|
|
|
|
|
|
|
Less |
TAX (H) |
1.519 |
0.250 |
2.419 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
3.261 |
3.289 |
(0.128) |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
1.57 |
1.58 |
(0.06) |
Expected Sales (2014-15) : Rs. 500.000 million
The above information has been parted by Mr. Alkesh Patel (Account
Manager)
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
0.72 |
0.81 |
-0.04 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/Sales) |
(%) |
9.89 |
10.10 |
10.94 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.93 |
0.79 |
0.56 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.03 |
0.03 |
0.02 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
1.54 |
1.18 |
1.11 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.46 |
1.33 |
1.36 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Share Capital |
20.769 |
20.769 |
20.769 |
|
Reserves & Surplus |
116.974 |
120.265 |
123.526 |
|
Net
worth |
137.743 |
141.034 |
144.295 |
|
|
|
|
|
|
long-term borrowings |
64.862 |
62.681 |
97.641 |
|
Short term borrowings |
87.591 |
104.256 |
124.785 |
|
Total
borrowings |
152.453 |
166.937 |
222.426 |
|
Debt/Equity
ratio |
1.107 |
1.184 |
1.541 |
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 |
355.481 |
405.901 |
455.355 |
|
|
|
14.184 |
12.184 |
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 |
355.481 |
405.901 |
455.355 |
|
Profit |
(0.128) |
3.289 |
3.261 |
|
|
(0.04%) |
0.81% |
0.72% |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES
OF LONG TERM DEBT
(Rs.
In Million)
|
Particular |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current
maturities of long-term debt |
|
|
|
|
From Banks |
|
|
|
|
Cosmos Bank – Term loan 18073 |
8.785 |
8.785 |
8.785 |
|
Cosmos Bank – Term loan 18046 |
0.000 |
0.220 |
2.278 |
|
Cosmos Bank – Term loan 18028 |
0.000 |
0.000 |
1.894 |
|
Cosmos Bank – Car loan (Dzire) |
0.000 |
0.000 |
0.105 |
|
HDFC Bank – Car loan (Liva) |
0.149 |
0.149 |
0.149 |
|
HDFC Bank – Car loan Dzire) |
0.000 |
0.000 |
0.089 |
|
Kotak Bank – Car loan (Jetta) |
0.000 |
0.000 |
0.590 |
|
Advance against sales |
3.190 |
2.798 |
0.182 |
|
For capital expenditure |
3.176 |
1.483 |
4.640 |
|
For other expenditure |
2.588 |
2.661 |
1.089 |
|
Other payables |
|
|
|
|
Branch
VAT and CST |
0.149 |
0.243 |
0.280 |
|
Total |
18.037 |
16.339 |
20.081 |
|
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 |
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 |
Yes |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister concerns |
Yes |
|
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 |
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 |
Note:
The registered office of the company has been shifted from Bhagvati Hardware,
28, Market Yard, Talod, Taluka Talod, Sabarkantha, Gujarat to the
present address w.e.f. 10.02.2009.
(Rs.
In Million)
|
UNSECURED LOAN |
As
on 31.03.2014 |
As
on 31.03.2013 |
|
Long Term
Borrowing |
|
|
|
From Director and Shareholders |
20.625 |
23.508 |
|
Inter corporate Deposit |
53.848 |
10.856 |
|
Total |
74.473 |
34.364 |
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10079725 |
17/05/2011 * |
259,200,000.00 |
THE COSMOS CO OPERATIVE BANK LIMITED |
ODHAV BRANCH, 2 VALLABHNAGAR SOCIETY, ODHAV ROAD, AHMEDABAD,
Gujarat - 382415, INDIA |
B13878426 |
* Date of charge modification
FIXED ASSETS
v Land
v
v Plant and Machinery
v Furniture and Fixtures
v Computers
v Office and Other Equipments
v 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 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.68.48 |
INFORMATION DETAILS
|
Information
Gathered by : |
PRP |
|
|
|
|
Analysis Done by
: |
SUC |
|
|
|
|
Report Prepared
by : |
JYTK |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
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 |
YES |
|
--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 |
-- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or
its officials.