MIRA INFORM REPORT
|
Report No. : |
336563 |
|
Report Date : |
12.08.2015 |
IDENTIFICATION DETAILS
|
Name : |
KION INDIA PRIVATE LIMITED (w.e.f. 19.07.2014) |
|
|
|
|
Formerly Known
As : |
VOLTAS MATERIAL HANDLING PRIVATE LIMITED (w.e.f 03.05.2011) JM MATERIALS HANDLING SOLUTIONS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
5/4, Chandan Nagar, Pune-Nagar Road, Pune – 411014, Maharashtra |
|
Tel. No.: |
91-20-67342101/192/193/157 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
28.02.2011 |
|
|
|
|
Com. Reg. No.: |
11-146031 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 130.500 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U29268PN2011PTC146031 |
|
|
|
|
IEC No.: |
Not Available |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
PNEK12404A |
|
|
|
|
PAN No.: [Permanent Account No.] |
AACCJ5370R |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject is engaged in the manufacturer and trading of Powered
Equipment including services. |
|
|
|
|
No. of Employees
: |
180 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (42) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a subsidiary of “Linde Material Handling Asia Pacific Pte.”
and it is established in the year 2011. It is dealing in the business of
manufacturing, distributing services and supporting palletized material
handling equipment, It product range includes counter balanced forklifts and
warehousing equipment of auto components. It has a satisfactory track record. Management has failed to file its financial record with government
department for the year 2014. In the view of the financial year ended 2013, the company has good
operational activity but it has incurred continuous losses. Rating takes into consideration the company’s has decent net worth
position and zero debt balance sheet profile along with favourable gap between
trade payables and receivables. Further, company receives strong financial and managerial support from
its holding company. Trade relations are fair. Business is active. Payment terms are slow
but correct. In view of strong holding company and healthy balance sheet profile,
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
|
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
31-03-2013.
INFORMATION PARTED BY
|
Name : |
Mr. Ravi |
|
Designation : |
AGM Finance |
|
Contact No.: |
91-20-67342157 |
|
Date : |
12.08.2015 |
LOCATIONS
|
Registered Office : |
5/4, Chandan Nagar, Pune-Nagar Road, Pune – 411014, Maharashtra, India |
|
Tel. No.: |
91-20-67342101/192/193/157 |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Branch Address : |
624 Anna Salai, Teyna, India |
DIRECTORS
AS ON 25.03.2014
|
Name : |
Mr. Sunil Kumar Gupta |
|
Designation : |
Managing Director |
|
Address : |
E 402, Landmark Garden, Kalyani Nagar, Pune – 411006, Maharashtra,
India |
|
Date of Birth/Age : |
01.09.1958 |
|
Date of Appointment : |
20.10.2012 |
|
DIN No.: |
06407786 |
|
|
|
|
Name : |
Mr. Behram Rustam Sabawala |
|
Designation : |
Director |
|
Address : |
D 1307, Ashok Towers DRDD Rao Marg, Parel, Mumbai – 400012,
Maharashtra, India |
|
Date of Birth/Age : |
15.09.1961 |
|
Date of Appointment : |
05.04.2011 |
|
DIN No.: |
02300554 |
|
|
|
|
Name : |
Mr. Ching Pong Quek |
|
Designation : |
Director |
|
Address : |
72 Huang Cuo Yun Hai Shan Zhuang Siming – 361000, China |
|
Date of Birth/Age : |
02.06.1967 |
|
Date of Appointment : |
18.06.2013 |
|
DIN No.: |
06591753 |
|
|
|
|
Name : |
Mr. Walter Jan Gustav Koepp |
|
Designation : |
Director |
|
Address : |
Richard Wagner Str 36 Nordost Wiesbaden Wiesbaden – 65193, Germany |
|
Date of Birth/Age : |
12.08.1968 |
|
Date of Appointment : |
17.12.2013 |
|
DIN No.: |
06765244 |
KEY EXECUTIVES
|
Name : |
Mr. Ravi |
|
Designation : |
AGM Finance |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 25.03.2014
|
Names of Shareholders |
|
No. of Shares |
|
Linde Material Handling Asia Pacific Pte Limited, Singapore |
|
147059 |
|
Linde Material Handling GMBH, Germany |
|
1 |
|
|
|
|
|
Total |
|
147060 |
|
Names of Preference Shareholders |
|
No. of Shares |
|
Linde Material Handling Asia Pacific Pte Limited, Singapore |
|
1290294 |
|
|
|
|
|
Total |
|
1290294 |
Equity Share Break up (Percentage of Total Equity)
AS ON 25.03.2014
|
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 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in the manufacturer and trading of Powered
Equipment including services. |
|
|
|
|
Products : |
Not Divulged |
|
|
|
|
Brand Names : |
Not Available |
|
|
|
|
Agencies Held : |
Not Available |
|
|
|
|
Exports : |
|
|
Products : |
Finished Goods |
|
Countries : |
Nepal |
|
|
|
|
Imports : |
|
|
Products : |
Raw Material |
|
Countries : |
|
|
|
|
|
Terms : |
|
|
Selling : |
Cash, L/C and Credit |
|
|
|
|
Purchasing : |
Cash, L/C and Credit |
GENERAL INFORMATION
|
Suppliers : |
Not Divulged
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Customers : |
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No. of Employees : |
180 (Approximately) |
||||||||||||||||||||||
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Bankers : |
|
||||||||||||||||||||||
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|
|
|
Auditors : |
|
|
Name : |
Deloitte Haskins and Sells Chartered Accountants |
|
Address : |
Tower 3, 27Th - 32Nd Floor, Indiabulls Finance Center, Elphinstone Mill Compound, Senapati Bapat Marg, Elphinstone (West), Mumbai- 400013, Maharashtra, India |
|
PAN N Income-tax PAN of auditor or auditor's firm : |
AACFD4815A |
|
|
|
|
Memberships : |
-- |
|
|
|
|
Collaborators : |
-- |
|
|
|
|
Related Party : |
Voltas Limited, India CIN No.: L29308MH1954PLC009371 |
|
|
|
|
Holding company : |
Linde Material Handling Asia Pacific Pte., Singapore |
|
|
|
|
Fellow Subsidiary Company : |
|
|
|
|
|
Ultimate Holding Company : |
Kion Group GMBH, Germany |
CAPITAL STRUCTURE
AS ON 25.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
150000 |
Equity Shares |
Rs.10/- each |
Rs. 1.500 Million |
|
1385000 |
Preference Shares |
Rs. 100/- each |
Rs. 138.500 Million |
|
|
Total |
|
Rs. 140.000
Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
147060 |
Equity Shares |
Rs.10/- each |
Rs. 1.471
Million |
|
1290294 |
Preference Shares |
Rs. 100/- each |
Rs. 129.029
Million |
|
|
Total |
|
Rs. 130.500 Million |
FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
130.500 |
130.500 |
130.500 |
|
(b) Reserves & Surplus |
853.252 |
985.676 |
1102.084 |
|
(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) |
983.752 |
1116.176 |
1232.584 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
8.096 |
|
(c) Other long term
liabilities |
4.654 |
6.130 |
0.651 |
|
(d) long-term
provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
4.654 |
6.130 |
8.747 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade
payables |
450.692 |
357.173 |
460.908 |
|
(c) Other
current liabilities |
55.018 |
173.298 |
133.373 |
|
(d) Short-term
provisions |
8.275 |
12.054 |
27.014 |
|
Total Current
Liabilities (4) |
513.985 |
542.525 |
621.295 |
|
|
|
|
|
|
TOTAL |
1502.391 |
1664.831 |
1862.626 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
115.282 |
114.433 |
66.986 |
|
(ii)
Intangible Assets |
434.115 |
592.864 |
751.613 |
|
(iii)
Capital work-in-progress |
0.000 |
1.447 |
2.434 |
|
(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 |
22.273 |
18.425 |
17.421 |
|
(e) Other
Non-current assets |
0.275 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
571.945 |
727.169 |
838.454 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
456.032 |
462.731 |
489.059 |
|
(c) Trade
receivables |
277.873 |
282.828 |
351.219 |
|
(d) Cash
and cash equivalents |
134.835 |
127.356 |
48.477 |
|
(e)
Short-term loans and advances |
49.301 |
64.747 |
135.417 |
|
(f) Other
current assets |
12.405 |
0.000 |
0.000 |
|
Total
Current Assets |
930.446 |
937.662 |
1024.172 |
|
|
|
|
|
|
TOTAL |
1502.391 |
1664.831 |
1862.626 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
SALES |
|
|
|
|
|
Income |
|
|
|
|
|
Other Income |
|
|
|
|
|
TOTAL
|
1854.000 |
2055.351 |
1427.956 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
TOTAL
|
NA |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
NA |
59.605 |
49.093 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION |
NA |
169.803 |
108.913 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
(132.424) |
(110.198) |
(59.820) |
|
|
|
|
|
|
|
|
Prior
Period Items |
0.000 |
14.306 |
0.000 |
|
|
|
|
|
|
|
Less |
TAX |
0.000 |
(8.096) |
8.096 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
(132.424) |
(116.408) |
(67.916) |
|
|
|
|
|
|
|
|
EARNINGS
IN FOREIGN CURRENCY |
0.000 |
0.000 |
0.000 |
|
|
F.O.B. Value of Exports |
0.000 |
0.697 |
0.000 |
|
|
Service Commission |
1.660 |
9.110 |
1.543 |
|
|
TOTAL
EARNINGS |
1.660 |
9.807 |
1.543 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
37.705 |
107.029 |
39.964 |
|
|
Traded Goods |
41.664 |
121.097 |
16.694 |
|
|
Capital Goods |
0.000 |
34.000 |
0.000 |
|
|
TOTAL
IMPORTS |
79.369 |
262.126 |
56.658 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
(900.47) |
(791.57) |
(563.980) |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
Current Maturities of Long term debt |
NA |
NA |
NA |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net cash flows from (used in) operations |
15.986 |
152.233 |
(159.931) |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
Net Profit Margin (PAT / Total Income ) |
(%) |
(7.09) |
(5.66) |
(4.76) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(8.81) |
(6.62) |
(3.22) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.13) |
(0.10) |
(0.05) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.81 |
1.73 |
1.65 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Share Capital |
130.500 |
130.500 |
130.500 |
|
Reserves & Surplus |
1102.084 |
985.676 |
853.252 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
1232.584 |
1116.176 |
983.752 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Total
borrowings |
0.000 |
0.000 |
0.000 |
|
Debt/Equity
ratio |
0.000 |
0.000 |
0.000 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Total Income |
1427.956 |
2055.351 |
1854.000 |
|
|
|
43.937 |
(9.796) |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Total Income |
1427.956 |
2055.351 |
1854.000 |
|
Profit |
(67.916) |
(116.408) |
(131.424) |
|
|
(4.76%) |
(5.66%) |
(7.09%) |
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) |
Yes |
|
16 |
No. of employees |
Yes |
|
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 |
Yes |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
NOTE: Registered office of the company has been shifted from Voltas House ‘A’. Dr. Babasaheb Ambedkar Road, Chinchpokli, Mumbai – 400033, Maharashtra, India to the present address w.e.f. 02.11.2012
INDEX OF CHARGES: NO
CHARGES EXIST FOR THE COMPANY
FIXED ASSETS
- Plant and equipment
- Furniture and fixtures
- Vehicles
- Office equipment
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. 64.17 |
|
UK Pound |
1 |
Rs. 99.85 |
|
Euro |
1 |
Rs. 70.36 |
INFORMATION DETAILS
|
Information
Gathered by : |
PRT |
|
|
|
|
Analysis Done by
: |
TRI |
|
|
|
|
Report Prepared
by : |
JYO |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILITY |
1~10 |
-- |
|
--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 |
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 |
|
42 |
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.