MIRA INFORM REPORT

 

 

Report No. :

334926

Report Date :

03.08.2015

 

IDENTIFICATION DETAILS

 

Name :

R. S. FOILS PRIVATE LIMITED

 

 

Registered Office :

Rev. Ser. No. 811/3/1, Village: Kotambi, Baorda Halol Express Way, Near. Alstom, Tal Waghodia, Vadodara-391510, Gujarat

Mob. No.:

91-9825074354 (Mr. Udhavkumar Rameshkumar Kejriwal)

 

 

Country :

India

 

 

Financials (as on) :

31.03.2014

 

 

Date of Incorporation :

31.05.2004

 

 

Com. Reg. No.:

04-044224

 

 

Capital Investment / Paid-up Capital :

Rs. 14.000 Million

 

 

CIN No.:

[Company Identification No.]

U27103GJ2004PTC044224

 

 

IEC No.:

Not Available

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

BRDR01016B

 

 

PAN No.:

[Permanent Account No.]

AACCR7565A

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Manufacturer and Supplier of Printed and Plain Aluminum Foils,  Aluminum Foils  Sheets, Blister Foil, Laminated Foils, Printed Aluminum Blister Foil, etc.

 

 

No. of Employees :

Information declined by the Management

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba (48)

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

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

Satisfactory

 

Status :

Satisfactory

 

 

Payment Behaviour :

Usually Correct

 

 

Litigation :

Clear

 

 

Comments :

Subject was incorporated on 31st May 2004, it is established company having satisfactory track record.

 

The general financial position of the company seems to sound and healthy. The fundamentals of the company are strong. Rating takes into consideration on established track record of the company and experience of the promoters.

 

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

 

In view of sound financial backed by its experienced promoters, the company can be considered for business dealings at usual 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.

 

 

 

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 31-03-2013.

 

 

INFORMATION DECLINED BY

 

Name :

Mr. Udhavkumar Rameshkumar Kejriwal

Designation :

Director

Contact No.:

91-9825074354

Date :

01.08.2015

 

 

LOCATIONS

 

Registered Office :

Rev. Ser. No. 811/3/1, Village: Kotambi, Baorda Halol Express Way, Near. Alstom, Tal Waghodia, Vadodara-391510, Gujarat, India

Tel. No.:

Not Available

Mobile No.:

91-8043042115 (Mr. Madhavkumar Kejriwal)

91-9825074354 (Mr. Udhavkumar Rameshkumar Kejriwal)

Fax No.:

Not Available

E-Mail :

jarod.rsf@gmail.com

rsfoils@gmail.com

 

 

Factory :

Shed No. 3 and 4, 181/A, Ranoli-Ipcl Rd, Village Dashrath District, Vadodara-391350, Gujarat, India

 

 

DIRECTORS

 

AS ON 18.09.2014

 

Name :

Mr. Udhavkumar Rameshkumar Kejriwal

Designation :

Director

Address :

A/6, Nandanvan Society, Near Hari Om Nagar Road, Subhanpura, Vadodara-390023, Gujarat, India

Date of Birth/Age :

07.07.1976

Date of Appointment :

31.05.2004

DIN No.:

00593687

 

 

Name :

Mr. Archana Madhavkumar Kejriwal

Designation :

Director

Address :

A/6, Nandanvan Society, Near Hari Om Nagar Road, Subhanpura, Vadodara-390023, Gujarat, India

Date of Birth/Age :

28.05.1976

Date of Appointment :

31.05.2004

DIN No.:

00593766

 

 

Name :

Mr. Madhavkumar Kejriwal

Designation :

Director

Address :

A/6, Nandanvan Society, Near Hari Om Nagar Road, Subhanpura, Vadodara-390023, Gujarat, India

Date of Birth/Age :

07.04.1974

Date of Appointment :

31.05.2004

DIN No.:

00589780

 

 

Name :

Mr. Kejriwal Shruti Udhavkumar

Designation :

Director

Address :

A/6, Nandanvan Society, Near Hari Om Nagar Road, Subhanpura, Vadodara-390023, Gujarat, India

Date of Birth/Age :

25.10.1978

Date of Appointment :

31.05.2004

DIN No.:

01320883

 

 

Name :

Mr. Vishal Gupta

Designation :

Director

Address :

8-2-416, Stone Valley Apartments, Block C-05 Road No.4, Banjara Hills, Hyderabad-500034, Andhra Pradesh, India

Date of Birth/Age :

11.10.1975

Date of Appointment :

01.12.2010

DIN No.:

00367385

 

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

AS ON 18.09.2014

 

Names of Shareholders

No. of Shares

 

Percentage of Holding

Archana Kejriwal

109000

7.79

Ramesh Kejriwal

165000

11.79

Madhav R Kejriwal

269900

19.28

Shurti Kejriwal

189000

13.50

Shanta Devi Kejriwal

153000

10.93

Pashupati Investment

100

0.01

Udhav Kejriwal

430000

30.71

Navneet Mohan Mittal

30000

2.14

Sushil Binayakia

10000

0.71

Ramesh Kejriwal (HUF)

44000

3.14

Total

1400000

100.00

 

 

AS ON 27.03.2015

 

Names of Allottees

No. of Shares

 

Madhav Rameshkumar Kejriwal

75000

Udhav Rameshkumar Kejriwal

37500

Rameshkumar Sitaram Kejriwal

112500

Archana Madhavkumar Kejriwal

37500

Shurti Kejriwal

37500

Total

300000

 

 

AS ON 18.09.2014

 

Equity Share Breakup

Percentage of Holding

Category

 

Directors or relatives of directors

100.00

Total

100.00

 

 

 

BUSINESS DETAILS

 

Line of Business :

Manufacturer and Supplier of Printed and Plain Aluminum Foils,  Aluminum Foils  Sheets, Blister Foil, Laminated Foils, Printed Aluminum Blister Foil, etc.

 

 

Products :

--

 

 

Brand Names :

--

 

 

Agencies Held :

--

 

 

Exports :

Not Divulged

 

 

Imports :

Not Divulged

 

 

Terms :

Not Divulged

 

PRODUCTION STATUS: NOT AVAILABLE

 

 

GENERAL INFORMATION

 

Suppliers :

Reference:

Not Divulged

Name of the Person (Designation):

Not Divulged

Contact Number:

Not Divulged

Since how long known:

Not Divulged

Maximum limit dealt:

Not Divulged

Experience:

Not Divulged

Remark

Not Divulged

 

 

Customers :

Reference:

Not Divulged

Name of the Person (Designation):

Not Divulged

Contact Number:

Not Divulged

Since how long known:

Not Divulged

Maximum limit dealt:

Not Divulged

Experience:

Not Divulged

Remark

Not Divulged

 

 

No. of Employees :

Information declined by the Management

 

 

Bankers :

Bank Name:

Not Divulged

Branch:

Not Divulged

Person Name (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

 

·         Bank of India

Ellora Park (C and P) Branch, Bank of India Building, Ellora Park, Subhanpura, Vadodara - 390023, Gujarat, India

 

·         HDFC Bank Limited

 

 

Facilities :

SECURED LOANS

31.03.2014

(Rs. In Million)

31.03.2013

(Rs. In Million)

LONG-TERM BORROWINGS

 

 

From Banks

 

 

Bank of India

12.789

31.974

HDFC Bank Limited – Car Loan

1.273

0.000

From Others

 

 

Tata Capital Limited – Car Loan

0.000

0.246

 

 

 

SHORT TERM BORROWINGS

 

 

From Banks

14.062

32.220

Bank of India

(Secured against present and future stock and receivables of the company and collateral of the Equitable Mortage of Factory Land and Building of the company. The Working Capital Loans are repayable on demand and carries interest @ 11.90% p.a.)

128.168

133.323

Total

142.230

165.543

 

Banking Relations :

--

 

 

Financial Institution :

Tata Capital Limited

 

 

Auditors :

 

Name :

S A Patel and Company

Chartered Accountants

Address :

422, Paradise Complex, Sayajigunj, Baroda- 390005, Gujarat, India

Tel. No.:

91-265-2362318/ 2363144

E-Mail :

casapatel189@gmail.com

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

ADFPP1273N

 

 

Memberships :

--

 

 

Collaborators :

--

 

 

Enterprise in which KMP/ Relatives of  KMP can exercise significant influence:

Siddhi Foils

 

 

CAPITAL STRUCTURE

 

AFTER 18.09.2014

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

2500000

Equity Shares

Rs. 10/- each

Rs. 25.000 Million

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

1700000

Equity Shares

Rs. 10/- each

Rs. 17.000 Million

 

 

 

 

 

 

AS ON 31.03.2014

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

1500000

Equity Shares

Rs. 10/- each

Rs. 15.000 Million

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

1400000

Equity Shares

Rs. 10/- each

Rs. 14.000 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

14.000

14.000

14.000

(b) Reserves & Surplus

54.805

49.748

46.181

(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)

68.805

63.748

60.181

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) Long-term borrowings

91.072

87.648

97.335

(b) Deferred tax liabilities (Net)

2.231

2.244

2.244

(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)

93.303

89.892

99.579

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

128.168

133.323

92.362

(b) Trade payables

106.039

58.097

47.312

(c) Other current liabilities

24.754

22.676

34.917

(d) Short-term provisions

2.119

1.362

0.973

Total Current Liabilities (4)

261.080

215.458

175.564

 

 

 

 

TOTAL

423.188

369.098

335.324

 

 

 

 

II.            ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

131.931

132.781

139.064

(ii) Intangible Assets

0.000

0.000

0.000

(iii) Capital work-in-progress

0.000

2.358

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)

0.000

0.000

0.000

(d)  Long-term Loan and Advances

0.374

0.352

5.305

(e) Other Non-current assets

0.351

0.173

1.956

Total Non-Current Assets

132.656

135.664

146.325

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

136.406

148.014

94.185

(c) Trade receivables

123.184

63.686

79.898

(d) Cash and cash equivalents

3.421

3.599

2.855

(e) Short-term loans and advances

24.832

15.179

6.538

(f) Other current assets

2.689

2.956

5.523

Total Current Assets

290.532

233.434

188.999

 

 

 

 

TOTAL

423.188

369.098

335.324

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

 

31.03.2014

31.03.2013

31.03.2012

 

SALES

 

 

 

 

 

Income

993.450

825.746

627.835

 

 

Other Income

3.036

1.492

0.562

 

 

TOTAL                                     (A)

996.486

827.238

628.397

 

 

 

 

 

Less

EXPENSES

 

 

 

 

 

Cost of Materials Consumed

748.146

668.573

468.629

 

 

Purchases of Stock-in-Trade

21.057

11.061

4.370

 

 

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

40.872

(43.169)

(11.460)

 

 

Employees benefits expense

16.201

13.913

11.350

 

 

Other expenses

119.894

127.112

110.917

 

 

TOTAL                                     (B)

946.170

777.490

583.806

 

 

 

 

 

 

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

50.316

49.748

44.591

 

 

 

 

 

Less

FINANCIAL EXPENSES                                    (D)

28.307

28.127

25.081

 

 

 

 

 

 

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

22.009

21.621

19.510

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION                     (F)

14.227

15.993

11.169

 

 

 

 

 

 

PROFIT BEFORE TAX (E-F)                              (G)

7.782

5.628

8.341

 

 

 

 

 

Less

TAX                                                                  (H)

2.563

1.898

2.464

 

 

 

 

 

 

PROFIT AFTER TAX (G-H)                                (I)

5.219

3.730

5.877

 

 

 

 

 

 

IMPORTS

 

 

 

 

 

Raw Materials/ Traded Goods

3.668

36.786

0.000

 

 

Consumable/ Traded Goods

22.530

10.659

13.151

 

TOTAL IMPORTS

26.198

47.445

13.151

 

 

 

 

 

 

Earnings Per Share (Rs.)

3.73

2.66

5.30

 

 

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

 

Particulars

 

31.03.2014

31.03.2013

31.03.2012

Current Maturities of Long term debt

15.799

16.777

17.336

 

 

 

 

Cash Generated from Operations

43.411

11.213

19.757

 

 

 

 

Net Cash Flow from used in Operations

NA

NA

NA

 

 

KEY RATIOS

 

 

PARTICULARS

 

 

31.03.2014

31.03.2013

31.03.2012

Net Profit Margin

(PAT / Sales)

(%)

0.53

0.45

0.94

 

 

 

 

 

Operating Profit Margin

(PBDIT/Sales)

(%)

5.06

6.02

7.10

 

 

 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)

1.84

1.53

2.49

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

0.11

0.09

0.14

 

 

 

 

 

Debt Equity Ratio

(Total Liability/Networth)

 

3.42

3.73

3.44

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

1.11

1.08

1.08

 

Total Liability = Short-term Debt + Long-term Debt + Current Maturities of Long-term debts

 

 

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

14.000

14.000

14.000

Reserves & Surplus

46.181

49.748

54.805

Money received against share warrants

0.000

0.000

0.000

Share Application money pending allotment

0.000

0.000

0.000

Net worth

60.181

63.748

68.805

 

 

 

 

Long-term borrowings

97.335

87.648

91.072

Short term borrowings

92.362

133.323

128.168

CURRENT MATURITIES OF LONG-TERM DEBTS

17.336

16.777

15.799

Total borrowings

207.033

237.748

235.039

Debt/Equity ratio

3.440

3.729

3.416

 

f

 

 

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

627.835

825.746

993.450

 

 

31.523

20.309

 

 

 

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

627.835

825.746

993.450

Profit

5.877

3.730

5.219

 

0.94%

0.45%

0.53%

 

 


LOCAL AGENCY FURTHER INFORMATION

 

Sr. No.

Check list by info agents

Available in Report

(Yes/No)

1

Year of establishment

Yes

2

Constitution of the entity -Incorporation details

Yes

3

Locality of the entity

Yes

4

Premises details

No

5

Buyer visit details

--

6

Contact numbers

Yes

7

Name of the person contacted

Yes

8

Designation of contact person

Yes

9

Promoter’s background

Yes

10

Date of Birth of Proprietor / Partners / Directors

Yes

11

Pan Card No. of Proprietor / Partners

No

12

Voter Id Card No. of Proprietor / Partners

No

13

Type of business

Yes

14

Line of Business

Yes

15

Export/import details (if applicable)

No

16

No. of employees

No

17

Details of sister concerns

Yes

18

Major suppliers

No

19

Major customers

No

20

Banking Details

Yes

21

Banking facility details

No

22

Conduct of the banking account

--

23

Financials, if provided

Yes

24

Capital in the business

Yes

25

Last accounts filed at ROC, if applicable

Yes

26

Turnover of firm for last three years

Yes

27

Reasons for variation <> 20%

--

28

Estimation for coming financial year

No

29

Profitability for last three years

Yes

30

Major shareholders, if available

Yes

31

External Agency Rating, if available

No

32

Litigations that the firm/promoter involved in

--

33

Market information

--

34

Payments terms

No

35

Negative Reporting by Auditors in the Annual Report

No

 

 

 

UNSECURED LOANS

 

PARTICULARS

31.03.2014

(Rs. In Million)

31.03.2013

(Rs. In Million)

LONG-TERM BORROWINGS

 

 

Deposits

 

 

Inter-corporate Deposits

30.228

30.114

Other Deposits

46.782

25.314

Total

77.010

55.428

 

 

CONTINGENT LIABILITIES:

 

Particulars

31.03.2014

(Rs. In Million)

31.03.2013

(Rs. In Million)

(i) Contigent Liabilities

 

 

(a) Bank Guarantees issued by bank on behalf of Company for which company has issued counter guarantee

4.956

0.000

(ii) Commitments

 

 

(a) Estimated amount of Contracts to be executed on capital account and not provided for  advances paid for the same

1.000

1.152

(b) Other Commitments

0.300

0.081


FIXED ASSETS:

 

Tangible Assets

 

·         Land Freehold

·         Buildings

·         Plant and Equipment

·         Roll Stacker

·         Computers

·         Office Equipment

·         Furniture and Fixtures

·         Electrical Installation

·         Computers

·         Office Equipment

·         Laboratories Equipment

 

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.  63.96

UK Pound

1

Rs.  99.93

Euro

1

Rs.  70.16

 

 

INFORMATION DETAILS

 

 

Information Gathered by :

PRI

 

 

Analysis Done by :

KAS

 

 

Report Prepared by :

IND

 

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

6

PAID-UP CAPITAL

1~10

5

OPERATING SCALE

1~10

6

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

6

--PROFITABILIRY

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

YES

--LISTED

YES/NO

NO

--OTHER MERIT FACTORS

YES/NO

YES

DEFAULTER

 

 

--RBI

YES/NO

NO

--EPF

YES/NO

NO

TOTAL

 

48

 

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.