MIRA INFORM REPORT
|
Report No. : |
319915 |
|
Report Date : |
29.04.2015 |
IDENTIFICATION DETAILS
|
Name : |
TOSHIBA TRANSMISSION
AND DISTRIBUTION SYSTEMS (INDIA) PRIVATE LIMITED (w.e.f. 07.01.2014) |
|
|
|
|
Formerly Known
As : |
TERRA TRANSMISSION AND DISTRIBUTION INDIA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Rudraram Village, Patancheru Mandal, Medak District – 502329,
Telangana |
|
Tel. No.: |
91-40-30712222 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
20.06.2013 |
|
|
|
|
Com. Reg. No.: |
01-088501 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.16330.100 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U40108TG2013PTC088501 |
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|
|
|
IEC No.: |
Not Available |
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|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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|
|
|
PAN No.: [Permanent Account No.] |
AAECT6883F |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer and Exporter of Transformers and related products. |
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|
|
|
No. of Employees
: |
4000 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (53) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 47000000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
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|
Comments : |
Subject is a newly incorporated subsidiary of “Toshiba Corporation,
Japan” which is establishing itself gradually. Mr. Chandra Shekhar, Marketing Manager provided complete information
and confirmed that the management of “Toshiba Corporation, Japan primarily
took over an Indian company named as “Vijay Electricals Limited” on December
27th, 2013 and has complete the statutory procedures for the
acquisition as on January 06, 2014. The company possesses a favourable financial profile marked by healthy
capital base and structure coupled with zero leverage, along with strong
liquidity profile backed by adequate liquid cash during FY2014. Management has witnessed a decent revenue base with a full scale entry
into India T and D market. Whereas has reported a loss from its first partial
year of commercial operations during FY2014. However, trade relations are improving. Business is active. Payment
terms are reported as usually correct. In view of strong parental support and reputation in the global
market, the subject can be considered for business dealings with slight
caution. |
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. Chandra Sekhar |
|
Designation : |
Marketing Manager |
|
Contact No.: |
91-9392148226 |
|
Date : |
18.04.2015 |
LOCATIONS
|
Registered Office / Factory : |
Rudraram Village, Patancheru Mandal, Medak District – 502329,
Telangana, India |
|
Tel. No.: |
91-40-30712222 |
|
Mobile No.: |
91-9392148226 (Mr. Chandra Sekhar) |
|
Fax No.: |
91-40-30712245 |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
160 Acer |
|
Location : |
Owned |
|
|
|
|
Branch 1 : |
1107, Hemkunt Chambers 89, Nehru Place, New Delhi – 110019, India |
|
Tel. No.: |
91-11-26423634 / 91-11-24502955 |
|
Fax No.: |
91-11-41618334 |
|
|
|
|
Branch 2 : |
6, Waterloo Street, Unit 102, I Floor, Kolkatta – 700069, West Bengal, India |
|
Tel. No.: |
91-33-30243643 |
|
Fax No.: |
91-33-30244162 |
|
|
|
|
Branch 3 : |
601, 6th Floor, C&B Square, Big Cinema Complex, Andheri - Kurla Road, Chakala, Andheri (East), Mumbai - 400 059, Maharashtra, India |
|
Tel. No.: |
91-22-61911519/1549 |
|
Fax No.: |
91-22-61911524 |
|
|
|
|
Branch 4 : |
A-2/425, GIDC, Makarapura Vadodara – 390010 Gujarat, India |
|
Tel. No.: |
91-265-2356805 |
DIRECTORS
As on: 15.12.2014
|
Name : |
Katsutoshi Toda |
|
Designation : |
Chairman |
|
Address : |
Plot No. 204, Temple Square Apartments, Sri Bagh Colony, Kothaguda,
Hyderabad – 500084, Telangana, India |
|
Date of Birth/Age : |
01.12.1956 |
|
Date of Appointment : |
15.12.2014 |
|
DIN No.: |
06730348 |
|
|
|
|
Name : |
Shinji Miyake |
|
Designation : |
Whole time Director |
|
Address : |
Plot No. 103, Temple Square Apartments, Sri Bagh Colony, Kothaguda, Hyderabad
– 500084, Telangana, India |
|
Date of Birth/Age : |
29.06.1969 |
|
Date of Appointment : |
15.12.2014 |
|
DIN No.: |
06730337 |
|
|
|
|
Name : |
Isao Hioki |
|
Designation : |
Whole time Director |
|
Address : |
Plot No. 503, Temple Square Apartments, Sri Bagh Colony, Kothaguda,
Hyderabad – 500084, Telangana, India |
|
Date of Birth/Age : |
04.02.1960 |
|
Date of Appointment : |
15.12.2014 |
|
DIN No.: |
06730378 |
|
|
|
|
Name : |
Masatoshi Ono |
|
Designation : |
Whole time Director |
|
Address : |
Plot No. 205, Temple Square Apartments, Sri Bagh Colony, Kothaguda,
Hyderabad – 500084, Telangana, India |
|
Date of Birth/Age : |
02.09.1957 |
|
Date of Appointment : |
15.12.2014 |
|
DIN No.: |
06730380 |
|
|
|
|
Name : |
Kazutoshi Ogata |
|
Designation : |
Director |
|
Address : |
18-33-1014, Nishiarai, sakae, CHO 1 – Chome Adachi – KU, Tokyo –
1230843, Japan |
|
Date of Birth/Age : |
19.09.1968 |
|
Date of Appointment : |
15.12.2014 |
|
DIN No.: |
06632292 |
|
|
|
|
Name : |
Taketoshi Miyamoto |
|
Designation : |
Director |
|
Address : |
21 – 15 – 107, Shimura, 3-Chome, Itabashiku, Tokyo – 1740056, Japan |
|
Date of Birth/Age : |
26.05.1967 |
|
Date of Appointment : |
15.12.2014 |
|
DIN No.: |
06730401 |
|
|
|
|
Name : |
Mr. Ashok Narindernath Kamra |
|
Designation : |
Director |
|
Address : |
PO Box 36967, Abu Dhabi – 36967, United Arab Emirates |
|
Date of Birth/Age : |
27.12.1960 |
|
Date of Appointment : |
15.12.2014 |
|
DIN No.: |
06779719 |
KEY EXECUTIVES
|
Name : |
Mr. Suresh Babu Pentyala |
|
Designation : |
Secretary |
|
Address : |
12-2-B23-A/76, Santosh Nagar, Mehdipatnam, Hyderabad – 500028,
Telangana, India |
|
Date of Birth/Age : |
10.07.1964 |
|
Date of Appointment : |
28.12.2013 |
|
PAN No.: |
ACUPP4459Q |
|
|
|
|
Name : |
Mr. Chandra Sekhar |
|
Designation : |
Marketing Manager |
MAJOR SHAREHOLDERS
As on As on 15.12.2014
|
Names of Shareholders |
|
No. of Shares |
|
Toshiba Corporation, Japan |
|
1633009999 |
|
Toshiba Substation Equipment Technology Corporation |
|
1 |
|
Total |
|
1633010000 |
As on As on 15.12.2014
Equity Share Break up (Percentage of Total Equity)
|
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 |
%20PRIVATE%20LIMITED%20-%20319915.doc%2029-Apr-2015_files/image007.gif)
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Transformers and related products. |
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Products : |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
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Products : |
Transformers and related products |
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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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Terms : |
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Selling : |
Cash and Credit |
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Purchasing : |
Cash and Credit |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
4000 (Approximately) |
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Bankers : |
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Auditors : |
|
|
Name : |
S.R. Batliboi and Associates Chartered Accountants |
|
Address : |
Tidel Park 6th and 7th Floor, Module 601, 701-702 No. 4 Rajiv Gandhi Salai, Taramani, Chennai – 600113, Tamilnadu, India |
|
PAN No.: |
ACHFS9118A |
|
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Associate : |
Toshiba Corporation, Japan |
|
|
|
|
Fellow Subsidiary
company : |
Toshiba India Private Limited, India Toshiba Trading Incorporated, Japan |
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CAPITAL STRUCTURE
As on 31.03.2014
Authorised Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2000000000 |
Equity Shares |
Rs.10/- each |
Rs.20000.000 Million |
Issued, Subscribed & Paid-up Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1633010000 |
Equity Shares |
Rs.10/- each |
Rs.16330.100
Million |
FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
|
20.06.2013 To 31.03.2014 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
|
16330.100 |
|
(b) Reserves & Surplus |
|
|
(6.400) |
|
(c) Money
received against share warrants |
|
|
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
|
|
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
|
|
16323.700 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
|
0.000 |
|
(b) Deferred tax liabilities (Net) |
|
|
0.000 |
|
(c) Other long term
liabilities |
|
|
0.000 |
|
(d) long-term
provisions |
|
|
284.800 |
|
Total Non-current
Liabilities (3) |
|
|
284.800 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
|
|
0.000 |
|
(b) Trade
payables |
|
|
1874.800 |
|
(c) Other
current liabilities |
|
|
1924.000 |
|
(d) Short-term
provisions |
|
|
60.100 |
|
Total Current
Liabilities (4) |
|
|
3858.900 |
|
|
|
|
|
|
TOTAL |
|
|
20467.400 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
|
|
4417.000 |
|
(ii)
Intangible Assets |
|
|
6152.400 |
|
(iii)
Capital work-in-progress |
|
|
38.200 |
|
(iv)
Intangible assets under development |
|
|
694.600 |
|
(b) Non-current Investments |
|
|
0.000 |
|
(c) Deferred tax assets (net) |
|
|
30.100 |
|
(d) Long-term Loan and Advances |
|
|
170.600 |
|
(e) Other
Non-current assets |
|
|
54.300 |
|
Total Non-Current
Assets |
|
|
11557.200 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
|
|
0.000 |
|
(b) Inventories |
|
|
1906.700 |
|
(c) Trade
receivables |
|
|
4171.600 |
|
(d) Cash
and cash equivalents |
|
|
2401.300 |
|
(e)
Short-term loans and advances |
|
|
360.700 |
|
(f) Other
current assets |
|
|
69.900 |
|
Total
Current Assets |
|
|
8910.200 |
|
|
|
|
|
|
TOTAL |
|
|
20467.400 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
|
20.06.2013 To 31.03.2014 |
|
|
SALES |
|
|
|
|
|
Income |
|
|
1623.800 |
|
|
Other Income |
|
|
45.400 |
|
|
TOTAL |
|
|
1669.200 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
1501.200 |
|
|
|
|
|
|
|
Less |
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION |
|
|
168.000 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
|
|
29.700 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION |
|
|
138.300 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
|
|
146.300 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
|
|
(8.000) |
|
|
|
|
|
|
|
Less |
TAX |
|
|
(1.600) |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
|
|
(6.400) |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
|
|
209.400 |
|
|
TOTAL EARNINGS |
|
|
209.400 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
CIF value of imports |
|
|
267.900 |
|
|
TOTAL IMPORTS |
|
|
267.900 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (Rs.) |
|
|
0.00 |
|
Particulars |
|
|
31.03.2015 |
|
Sales Turnover (Approximately) |
|
|
12000 |
|
|
|
|
|
The above information has been parted by Mr. Chandra Sekhar (Marketing
Manager).
KEY RATIOS
|
PARTICULARS |
|
|
|
20.06.2013 To 31.03.2014 |
|
Net Profit Margin (PAT / Sales) |
(%) |
|
|
(0.39) |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
|
|
10.35 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
|
|
(0.04) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
|
|
0.00 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
|
|
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
|
|
2.31 |
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 |
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
9 Months |
Yes |
|
12] |
Profitability for last 9
Months |
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 |
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 |
No |
|
25] |
Conduct of the banking
account |
-- |
|
26] |
Buyer visit details |
-- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
Yes |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
Date of Birth of Proprietor/Partner/Director,
if available |
Yes |
|
32] |
PAN of
Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
No |
PERFORMANCE REVIEW
During the period, the company has recorded total revenue (net of excise duty) of Rs.1669.200 Million and EBITDA of Rs.168.000 Million. The Loss before Tax and Loss after Tax were Rs.8.000 Million and Rs.6.400 Million respectively. During the period under review, the company has achieved export turnover of Rs.209.400.
OUTLOOK
T and D Equipment industry is currently witnessing an over capacity situation, which has led to a fierce price competition amongst the players in the industry. Cut throat competition has led to the erosion in the margins of our company. Additions to power generation have slowed down and this has adversely affected the T & D Equipment industry. The major reasons for the slowdown in domestic power generation capacity additions were delay in supply of power equipment, inability to get adequate fuel linkages, delay in land acquisition, environmental issues and tight credit crunch faced by major industries around the world due to the global financial meltdown. The culmination of above factors has put the margins under severe pressure for the industry as a whole.
Note: Registered office
of the company has been shifted from “Regus Hitechcity, Plot No. 18, Level 2,
Oval Building, Labs Centre, Madhapur Hyderabad-500081, Telangana, India” to the
present address w.e.f. 27.12.2013.
500081
INDEX OF CHARGES: NO
CHARGES EXIST FOR THE COMPANY
FIXED ASSETS
- Land and Development
- Buildings
- Plant and Machinery
- Computers
- Office Equipment
- Furniture and Fixture
- 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.63.33 |
|
|
1 |
Rs.96.52 |
|
Euro |
1 |
Rs.68.93 |
INFORMATION DETAILS
|
Information
Gathered by : |
RKH |
|
|
|
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
MTN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
8 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILITY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
6 |
|
--MARGINS |
-5~5 |
--- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--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 |
|
53 |
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.