MIRA INFORM REPORT

 

 

Report No. :

318390

Report Date :

27.04.2015

 

IDENTIFICATION DETAILS

 

Name :

KASA TECHNOLOGIES LIMITED (w.e.f. 28.04.2009)

 

 

Formerly Known As :

KASA TECHNOLOGIES PRIVATE LIMITED (w.e.f. 20.07.2006)

KASA IMPEX PRIVATE LIMITED

 

 

Registered Office :

E-190, 1st Floor, Greater Kailash, Part – I, New Delhi – 110048

Tel No.:

91-11-46516961/64

 

 

Country :

India

 

 

Financials (as on) :

31.03.2014

 

 

Date of Incorporation :

16.11.2004

 

 

Com. Reg. No.:

55-130555

 

 

Capital Investment / Paid-up Capital :

Rs.3.500 Million

 

 

CIN No.:

[Company Identification No.]

U51909DL2004PLC130555

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

DELK08422B

 

 

PAN No.:

[Permanent Account No.]

AACCK6052F

 

 

Legal Form :

A Closely Held Public Limited Liability Company

 

 

Line of Business :

Trader, Importer and Exporter of all type of goods, product and services to provide technological solution for problem relating to earthing, grounding and lightening protection.

 

 

No. of Employees :

30 (Approximately)

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba (45)

 

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Maximum Credit Limit :

USD 90000

 

 

Status :

Satisfactory

 

 

Payment Behaviour :

Usually correct

 

 

Litigation :

Clear

 

 

Comments :

Subject is an established company having satisfactory track record.

 

General financial position of the company seems to be sound and healthy. Profitability of the company is fair.

 

Trade relations are fair. Business is active. Payment terms are reported to be usually correct.

 

The company can be considered for business dealings at usual trade terms and condition.

 

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 (General Details)

 

Name :

Mr. Abhijit

Designation :

Project Executive

Contact No.:

91-11-46516961

Date :

21.04.2015

 

 

LOCATIONS

 

Registered Office :

E-190, 1st Floor, Greater Kailash, Part – I, New Delhi – 110048, India

Tel. No.:

91-11-46516961/64

Mobile No.:

91-8826045459 (Mr. Abhijit)

Fax No.:

91-11-46516965

E-Mail :

admin@kasatechno.com

Website :

http://www.kasatechno.com

Location :

Owned

 

 

Corporate Office :

252 B, 3rd Floor, Sant Nagar, East of Kailash, New Delhi -110065, India

Location :

Rented

 

 

Warehouse :

Located At :

 

  1. Chattar Pur – Delhi
  2. Ahmedabad – Gujarat
  3. Hyderabad - Telangana

Location :

Rented

 

 

DIRECTORS

 

As on 30.09.2014

 

Name :

Mr. Krishna Prakash Srivatava

Designation :

Whole-time director

Address :

E-190, 1st Floor, Greater Kailash, Part – I, New Delhi – 110048, India

Date of Birth/Age :

28.12.1957

Date of Appointment :

01.04.2009

DIN No.:

01897231

Other Directorship:

S.No.

CIN/LLPIN

Name of the Company/ LLP

Current designation of the Director/ Designated Partner

Date of appointment at current designation

Original date of appointment

Date of cessation

Company/ LLP Status

Defaulting status

1

U51109DL2000PTC107546

ALKONI IMPEX PRIVATE LIMITED

Whole-time director

05-09-2000

05-09-2000

-

Active

NO

2

U51909DL2004PLC130555

KASA TECHNOLOGIES LIMITED

Whole-time director

01-04-2009

16-11-2004

-

Active

NO

3

U40300DL2007PTC171339

KASA POWER PRIVATE LIMITED

Director

11-12-2007

11-12-2007

-

Active

NO

4

U74140DL2007PTC171364

KASA CONSULTANCY SERVICES PRIVATE LIMITED

Director

12-12-2007

12-12-2007

-

Active

NO

5

U29253DL2013PTC262750

Su-KASA Technologies Private Limited

Director

26-12-2013

26-12-2013

-

Active

NO

 

 

Name :

Mrs. Sangeeta Srivastava

Designation :

Whole-time director

Address :

E-190, 1st Floor, Greater Kailash, Part – I, New Delhi – 110048, India

Date of Birth/Age :

17.02.1961

Date of Appointment :

01.04.2009

DIN No.:

01617524

Other Directorship:

S.No.

CIN/LLPIN

Name of the Company/ LLP

Current designation of the Director/ Designated Partner

Date of appointment at current designation

Original date of appointment

Date of cessation

Company/ LLP Status

Defaulting status

1

U51109DL2000PTC107546

ALKONI IMPEX PRIVATE LIMITED

Whole-time director

05-09-2000

05-09-2000

-

Active

NO

2

U51909DL2004PLC130555

KASA TECHNOLOGIES LIMITED

Whole-time director

01-04-2009

16-11-2004

-

Active

NO

3

U40300DL2007PTC171339

KASA POWER PRIVATE LIMITED

Director

11-12-2007

11-12-2007

-

Active

NO

4

U74140DL2007PTC171364

KASA CONSULTANCY SERVICES PRIVATE LIMITED

Director

12-12-2007

12-12-2007

-

Active

NO

 

 

Name :

Mr. Saumya Srivastava

Designation :

Director

Address :

E-190, 1st Floor, Greater Kailash, Part – I, New Delhi – 110048, India

Date of Birth/Age :

27.09.1984

Date of Appointment :

27.12.2005

DIN No.:

01897279

Other Directorship:

S.No.

CIN/LLPIN

Name of the Company/ LLP

Current designation of the Director/ Designated Partner

Date of appointment at current designation

Original date of appointment

Date of cessation

Company/ LLP Status

Defaulting status

1

U51909DL2004PLC130555

KASA TECHNOLOGIES LIMITED

Director

27-12-2005

27-12-2005

-

Active

NO

2

U40300DL2007PTC171339

KASA POWER PRIVATE LIMITED

Director

11-12-2007

11-12-2007

-

Active

NO

3

U74140DL2007PTC171364

KASA CONSULTANCY SERVICES PRIVATE LIMITED

Director

12-12-2007

12-12-2007

-

Active

NO

 

 

Name :

Mr. Sahil Srivastava

Designation :

Director

Address :

E-190, 1st Floor, Greater Kailash, Part – I, New Delhi – 110048, India

Date of Birth/Age :

11.11.1990

Date of Appointment :

30.09.2009

DIN No.:

02450795

Other Directorship:

S.No.

CIN/LLPIN

Name of the Company/ LLP

Current designation of the Director/ Designated Partner

Date of appointment at current designation

Original date of appointment

Date of cessation

Company/ LLP Status

Defaulting status

1

U51909DL2004PLC130555

KASA TECHNOLOGIES LIMITED

Director

30-09-2009

16-12-2008

-

Active

NO

 

 

KEY EXECUTIVES

 

Name :

Mr. Abhijit

Designation :

Project Executive

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

As on 30.09.2014

 

Names of Shareholders

No. of Shares

K.P. Srivastava

127980

Sangeeta Srivatava

166070

Saumya Srivastava

12500

Sahil Srivastava

18450

Kasa Consultancy Services Private Limited, India

10000

Kas Power Private Limited, India

10000

Prashant Kumar Singh

2500

Siddhartha

2500

Total

350000

 

Equity Share Break up (Percentage of Total Equity)

 

As on 30.09.2014

 

Category

Percentage

Bodies corporate

5.71

Directors or relatives of Directors

92.86

Other top fifty shareholders

1.43

Total

100.00

 

 

 

 

BUSINESS DETAILS

 

Line of Business :

Trader, Importer and Exporter of all type of goods, product and services to provide technological solution for problem relating to earthing, grounding and lightening protection.

 

 

Products :

 

 

Brand Names :

Not Available

 

 

Agencies Held :

Not Available

 

 

Exports :

Not Divulged

 

 

Imports :

 

Products :

Raw Material

Countries :
  • USA
  • Australia

 

 

Terms :

 

Selling :

Cash, L\C and Credit

 

 

Purchasing :

Cash, L\C and Credit

 

PRODUCTION STATUS NOT AVAILABLE

 

 

GENERAL INFORMATION

 

Suppliers :

Reference :

Erico – Australia

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Maximum Limit Dealt :

Not Divulged

Experience :

Not Divulged

Remark:

Not Divulged

 

 

Customers :

Retailers and End Users

  • Idea
  • Airtel
  • Vodafone
  • Aircel
  • Reliance Infocomm
  • TataIndicom
  • Reliance Energy
  • Siemens
  • Bses Rajdhani
  • Bses Yamuna
  • ThyssenKrupp
  • Ericsson
  • Hcl
  • Wipro
  • Bharat Electrics
  • Jaypee
  • Jindal Ntpc
  • Npcl
  • Viom
  • Suzlon
  • Central Power

 

 

No. of Employees :

30 (Approximately)

 

 

Bankers :
  • HDFC Bank Limited - HDFC Bank House senapati Bapat Marg, Lower Parel (West), Mumbai - 400013, Maharashtra, India
  • HDFC Bank Limited – Greater Kailash-1, New Delhi, India

 

 

Facilities :

Secured Loan

31.03.2014

(Rs. in Million)

31.03.2013

(Rs. in Million)

Long-term Borrowings

 

 

Term Loan

 

 

From Bank

(Secured by Vehicle)

4.716

1.268

Loans and advances from related parties

 

 

Directors

 0.749

0.749

 

 

 

Short-term borrowings

 

 

From Bank

 

 

From Bank Hypothecated by Stock and Debtors.

14.167

9.435

From Bank

(Secured by Vehicle)

3.601

0.627

Total

23.233

12.079

 

Auditors :

 

Name :

UCC and Associates LLP

Chartered Accountants

Address :

1315, Ansal Tower, Nehru Place, New Delhi – 110019, India

Tel. No.:

91-11-66624518 / 19

Fax No.:

uccdelhi@gmail.com

E-Mail :

www.uccglobal.in

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

AAAFU1545L

 

 

Memberships :

Not Available

 

 

Collaborators :

Not Available

 

 

Associates/Subsidiaries :

Not Available

 

 

CAPITAL STRUCTURE

 

As on 31.03.2014

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

500000

Equity Shares

Rs.10/- each

Rs.5.000 Million

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

350000

Equity Shares

Rs.10/- each

Rs.3.500 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

3.500

3.500

3.500

(b) Reserves & Surplus

30.978

21.154

17.176

(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)

34.478

24.654

20.676

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

5.465

2.017

2.620

(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)

5.465

2.017

2.620

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

17.768

10.062

12.31

(b) Trade payables

3.104

1.422

4.423

(c) Other current liabilities

69.978

12.365

20.603

(d) Short-term provisions

4.792

2.226

2.781

Total Current Liabilities (4)

95.642

26.075

40.117

 

 

 

 

TOTAL

135.585

52.746

63.413

 

 

 

 

II.          ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

3.474

4.306

5.471

(ii) Intangible Assets

0.007

0.012

0.005

(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)

0.398

0.301

0.214

(d)  Long-term Loan and Advances

3.059

1.607

2.067

(e) Other Non-current assets

0.000

0.000

0.000

Total Non-Current Assets

6.938

6.226

7.757

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

26.285

11.751

17.585

(c) Trade receivables

91.117

25.180

25.181

(d) Cash and cash equivalents

6.357

6.829

10.494

(e) Short-term loans and advances

3.347

2.462

2.067

(f) Other current assets

0.541

0.298

0.329

Total Current Assets

127.647

46.520

55.656

 

 

 

 

TOTAL

134.585

52.746

63.413

 

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

31.03.2014

31.03.2013

31.03.2012

 

SALES

 

 

 

 

Income

241.497

73.383

80.463

 

Other Income

1.290

0.938

0.699

 

TOTAL (A)

242.787

74.321

81.162

 

 

 

 

 

Less

EXPENSES

 

 

 

 

Cost of Materials Consumed

0.000

0.000

20.021

 

Purchases of Stock-in-Trade

126.509

17.865

0.000

 

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

(14.534)

3.124

6.698

 

Employees benefits expense

53.511

22.865

21.818

 

Exceptional Items

0.000

2.710

0.000

 

Other expenses

59.669

18.315

21.294

 

TOTAL (B)

225.155

64.879

69.831

 

 

 

 

 

 

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

17.632

9.442

11.331

Less

 

 

 

 

 

FINANCIAL EXPENSES (D)

2.320

2.006

2.192

Less

 

 

 

 

 

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

15.312

7.436

9.139

 

 

 

 

 

 

DEPRECIATION/ AMORTISATION (F)

0.995

1.318

1.384

Less/ Add

 

 

 

 

 

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

14.317

6.118

7.755

 

 

 

 

 

 

TAX (H)

4.697

1.936

2.515

Less

 

 

 

 

 

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

9.620

4.182

5.240

 

 

 

 

 

 

Earnings / (Loss) Per Share (Rs.)

27.49

11.95

20.92

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2014

31.03.2013

31.03.2012

Net Profit Margin

(PAT / Sales)

(%)

3.98

5.70

6.51

 

 

 

 

 

Operating Profit Margin

(PBIDT/Sales)

(%)

7.30

12.87

14.08

 

 

 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)

10.67

11.69

12.27

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

0.42

0.25

0.38

 

 

 

 

 

Debt Equity Ratio

(Total Debt /Networth)

 

0.67

0.49

0.72

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

1.33

1.78

1.39

 

 

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

3.500

3.500

3.500

Reserves & Surplus

17.176

21.154

30.978

Net worth

20.676

24.654

34.478

 

 

 

 

long-term borrowings

2.620

2.017

5.465

Short term borrowings

12.310

10.062

17.768

Total borrowings

14.930

12.079

23.233

Debt/Equity ratio

0.722

0.490

0.674

 

 

 

 

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

80.463

73.383

241.497

 

 

-8.799

229.091

 

 

 

 

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

80.463

73.383

241.497

Profit

5.240

4.182

9.620

 

6.51%

5.70%

3.98%

 

 

 

 

 

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

Yes

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

 

 

GENERAL INFORMATION

 

The company was incorporated to carry on the business of trading, import and export of all type of goods, product and services to provide technological solution for problems relating to earthing, grounding and lightening protection. The company was incorporated as limited company.

 

 

INDEX OF CHARGES

 

S.No.

Charge ID

Date of Charge Creation/Modification

Charge amount secured

Charge Holder

Address

Service Request Number (SRN)

1

10199127

09/01/2010

15,000,000.00

HDFC BANK LIMITED

HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, Maharashtra - 400013, INDIA

A78005352

 

 

 

FIXED ASSETS

 

Tangible Assets

 

  • Furniture and Fixtures
  • Vehicles
  • Office Equipment
  • Computer

 

Intangible Assets

 

  • Computer Software

 

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.63.40

UK Pound

1

Rs.95.42

Euro

1

Rs.68.49

 

 

INFORMATION DETAILS

 

Information Gathered by :

DIP

 

 

Analysis Done by :

DIV

 

 

Report Prepared by :

GTA

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

5

PAID-UP CAPITAL

1~10

5

OPERATING SCALE

1~10

5

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

5

--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

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

 

45

 

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.