MIRA INFORM REPORT
|
Report No. : |
336001 |
|
Report Date : |
11.08.2015 |
IDENTIFICATION DETAILS
|
Name : |
J.M.D. CASTINGS PRIVATE LIMITED (w.e.f. 11.04.2008) |
|
|
|
|
Formerly Known
As : |
PLAZA CASTINGS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Krishna Tower Co-Operative Housing Society Limited, Shop No. 7, C.S.C. Road No. 2, Anand Nagar, Dahisar East, Mumbai – 400068, Maharashtra |
|
Tel. No.: |
91-22-23872033 |
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|
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|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2010 |
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|
|
|
Date of
Incorporation : |
10.10.1994 |
|
|
|
|
Com. Reg. No.: |
11-081883 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.29.251 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U27200MH1994PTC081883 |
|
|
|
|
IEC No.: |
Not Available |
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|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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|
|
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PAN No.: [Permanent Account No.] |
Not Available |
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|
|
Legal Form : |
Private Limited Liability Company |
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|
|
|
Line of Business
: |
Manufacturer of M. S. Ingots. |
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|
|
|
No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
C |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
Status : |
Undetermined |
|
|
|
|
Payment Behaviour : |
-- |
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|
|
|
Litigation : |
-- |
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|
|
|
Comments : |
Our executive has contacted Mr. Ashwini Agrwal (91-9819874879)
ex-director of the subject company and he claimed that they have sold the
company to Mr. Suresh Patil. Further Mr. Ashwini has parted the contact details of Mr. Ashraf (Key
Executive 022-23872033) to Mr. Suresh Patil. On contacting to Mr. Ashraf (Key Executive) he claimed that Mr. Suresh
Patil is out of the country and he is the concern person who can part the
necessary information to us and he further informed that they have sold the
subject company to someone else, but he declined to part us any further
information on it. Hence, due to unavailability of necessary information we are unable to
gather information on new management of the subject company. No other information has been made available from any other source. Management of the company has failed to file its financials record
with the government department for the year ended 2014, 2013, 2012 and 2011. As per the registrar in the company status is active. Due to unavailability of the correct information of the subject
company, we do not recommended credit limit to the subject company. |
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 – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
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
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 PARTED BY
|
Name : |
Mr. Ashraf |
|
Designation : |
Key Executive |
|
Contact No.: |
91-22-23872033 |
|
Date : |
10.08.2015 |
LOCATIONS
|
Registered Office : |
Krishna Tower Co-Operative Housing Society Limited, Shop No. 7, C.S.C. Road No. 2, Anand Nagar, Dahisar East, Mumbai – 400068, Maharashtra, India |
|
Tel. No.: |
91-22-23872033 / 28966019 |
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Fax No.: |
Not Available |
|
E-Mail : |
|
|
|
|
|
Corporate Office : |
Shop No.59, 1st Floor, Cine Max Wonder Mall, G. B. Road,
Thane (West) – 400607, Maharashtra, India |
DIRECTORS
AS ON 30.09.2010
|
Name : |
Mr. Sagir Khan |
|
Designation : |
Director |
|
Address : |
S.K. Manzil R. No.23, Amar Nagar CHS, Trombay, Mumbai - 400088, Maharashtra, India |
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Date of Birth/Age : |
24.03.1981 |
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Date of Appointment : |
25.03.2010 |
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DIN No.: |
02914277 |
|
|
|
|
Name : |
Mr. Prakash Mulchand Doshi |
|
Designation : |
Additional Director |
|
Address : |
Mahavir Darshan, Mamledar Wadi Road (N), Cross Road No. 3,Malad West, Mumbai - 400064, Maharashtra, India |
|
Date of Appointment : |
24.01.2011 |
|
DIN No.: |
03358097 |
MAJOR SHAREHOLDERS
AS ON 30.09.2010
|
Names of Shareholders |
|
No. of Shares |
|
Ajay Singhal |
|
100 |
|
Ajit Patil |
|
1000 |
|
Ashwini Agarwal |
|
100 |
|
Manjula A. Agarwal |
|
100 |
|
Shagir Khan |
|
100 |
|
Suresh Patil |
|
794810 |
|
Tropical Landscapes Private Limited, India |
|
2128910 |
|
|
|
|
|
Total |
|
2925120 |
Equity Share Break up (Percentage of Total Equity)
AS ON 30.09.2010
|
Category |
Percentage |
|
Bodies corporate |
72.78 |
|
Directors or relatives of Directors |
0.01 |
|
Other top fifty shareholders |
27.21 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of M. S. Ingots. |
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Products : |
M. S. Ingots |
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|
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Brand Names : |
Not Divulged |
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Agencies Held : |
Not Divulged |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
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Selling : |
Not Divulged |
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Purchasing : |
Not Divulged |
PRODUCTION STATUS – NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
Information declined by the management |
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Bankers : |
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Facilities : |
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Auditors : |
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|
Name : |
Shyam Padia and Company Chartered Accountants |
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Address : |
D - 41/013, Virat, Gokul Dham, Film City Road, Goregaon (East), Mumbai
– 400063, Maharashtra, India |
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Tel. No.: |
91-22-28412613 / 28424613 |
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Mobile No.: |
91-9323034864 / 9322195613 / 9321425913 |
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Fax No.: |
91-22-28424613 |
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E-Mail : |
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Website : |
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PAN No.: |
AAXFS5721R |
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Collaborators : |
Not Divulged |
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Membership : |
Not Divulged |
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Associates/Subsidiaries : |
-- |
CAPITAL STRUCTURE
AS ON 30.09.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3000000 |
Equity Shares |
Rs.10/- each |
Rs.30.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2925120 |
Equity Shares |
Rs.10/- each |
Rs.29.251 Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are in
Rupees Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
29.251 |
29.251 |
29.251 |
|
|
2] Share Application Money |
0.000 |
0.360 |
0.360 |
|
|
3] Reserves & Surplus |
3.826 |
0.293 |
0.293 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
33.077 |
29.904 |
29.904 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
79.503 |
72.632 |
|
|
2] Unsecured Loans |
31.872 |
20.162 |
14.414 |
|
|
TOTAL BORROWING |
31.872 |
99.665 |
87.046 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
BANK OD |
0.848 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
65.797 |
129.569 |
116.950 |
|
|
|
|
|
|
|
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APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
32.956 |
37.669 |
40.953 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERRED TAX ASSETS |
0.321 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
68.045 |
4.566 |
3.556 |
|
|
Sundry Debtors |
2.346 |
10.122 |
1.764 |
|
|
Cash & Bank Balances |
0.308 |
0.366 |
1.001 |
|
|
Other Current Assets |
0.000 |
0.000 |
0.000 |
|
|
Loans & Advances |
14.376 |
5.088 |
3.081 |
|
Total
Current Assets |
85.075 |
20.142 |
9.402 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
0.000 |
0.000 |
0.000 |
|
|
Other Current Liabilities |
145.871 |
39.116 |
24.557 |
|
|
Provisions |
11.845 |
5.972 |
0.000 |
|
Total
Current Liabilities |
157.716 |
45.088 |
24.557 |
|
|
Net Current Assets |
(72.641) |
(24.946) |
(15.155) |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
PROFIT AND LOSS ACCOUNT |
105.161 |
116.846 |
91.152 |
|
|
|
|
|
|
|
|
TOTAL |
65.797 |
129.569 |
116.950 |
|
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
|
|
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL |
475.915 |
46.924 |
0.000 |
|
|
|
|
|
|
|
|
|
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
455.711 |
67.784 |
48.111 |
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION |
20.204 |
(20.860) |
(48.111) |
|
|
|
|
|
|
|
|
|
|
DEPRECIATION/
AMORTISATION |
4.749 |
4.832 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX |
15.455 |
(25.692) |
(48.111) |
|
|
|
|
|
|
|
|
|
|
TAX |
0.383 |
0.002 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
AFTER TAX |
15.714 |
(25.694) |
(48.111) |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
5.37 |
-- |
-- |
|
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
Current Maturities of Long term debt |
NA |
NA |
NA |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net cash flow from (used in) operations |
NA |
NA |
NA |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
Return on Total Assets (PBT/Total Assets) |
(%) |
13.09 |
(44.44) |
(95.54) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.47 |
(0.86) |
(1.61) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.96 |
3.33 |
2.91 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.54 |
0.45 |
0.38 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2008 |
31.03.2009 |
31.03.2010 |
|
|
Rs.
In Million |
Rs.
In Million |
Rs.
In Million |
|
Share Capital |
29.251 |
29.251 |
29.251 |
|
Reserves & Surplus |
0.293 |
0.293 |
3.826 |
|
Share Application money |
0.360 |
0.360 |
0.000 |
|
Net
worth |
29.904 |
29.904 |
33.077 |
|
|
|
|
|
|
Secured Loans |
72.632 |
79.503 |
0.000 |
|
Unsecured Loans |
14.414 |
20.162 |
31.872 |
|
Total
borrowings |
87.046 |
99.665 |
31.872 |
|
Debt/Equity
ratio |
2.911 |
3.333 |
0.964 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2008 |
31.03.2009 |
31.03.2010 |
|
|
Rs.
In Million |
Rs.
In Million |
Rs.
In Million |
|
Total Income |
0.000 |
46.924 |
475.915 |
|
|
|
|
914.225 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2008 |
31.03.2009 |
31.03.2010 |
|
|
Rs.
In Million |
Rs.
In Million |
Rs.
In Million |
|
Total Income |
0.000 |
46.924 |
475.915 |
|
Profit |
(48.111) |
(25.694) |
15.072 |
|
|
|
(54.76%) |
3.17% |
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 |
No |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
Yes |
|
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 |
No |
|
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 |
NOTE: Registered office
of the company has been shifted from Plot No. 58/2, Survey 30, Village Vasuri
Khurd, Taluka Wada, Vasuri Khurd – 421303, Maharashtra, India to the present
address w.e.f. 03.08.2012
UNSECURED LOANS:
|
Particulars |
31.03.2010 Rs. In Million |
31.03.2009 Rs. In Million |
|
|
|
|
|
From directors,
relatives and others |
31.872 |
20.162 |
|
|
|
|
|
Total |
31.872 |
20.162 |
INDEX OF CHARGE:
|
Sr. No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10255194 |
28/03/2014 * |
210,500,000.00 |
JM Financial Asset Reconstruction Company Private Limited |
7th Floor, Cnergy,, Appasaheb Marathe Marg, Prabhadevi,, Mumbai, Maharashtra - 400025, India |
C11476751 |
*Date of modification Charges
FIXED ASSETS:
·
Land and Development
·
Factory Building
·
Office Building
·
Electric and Installation
·
Plant and Machinery
·
Weigh Bridge Structure
·
Weighing Machine
·
Borewell
·
Pump Set
·
Furniture and Fixtures
·
Computer
·
Television
·
Motor Car
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.63.76 |
|
|
1 |
Rs.98.76 |
|
Euro |
1 |
Rs.69.88 |
INFORMATION DETAILS
|
Information
Gathered by : |
PRT |
|
|
|
|
Analysis Done by
: |
KAS |
|
|
|
|
Report Prepared
by : |
NKT |
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.