MIRA INFORM REPORT
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Report No. : |
336936 |
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Report Date : |
17.08.2015 |
IDENTIFICATION DETAILS
|
Name : |
GROVER IMPEX PRIVATE LIMITED |
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Registered
Office : |
115, Transport Centre, New Rohtak Road, Near Punjabi Bagh, Delhi - 110035 |
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Tel. No.: |
91-11-28312398 |
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Country : |
India |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
09.12.1982 |
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Com. Reg. No.: |
55-014809 |
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Capital
Investment / Paid-up Capital : |
Rs. 17.550
Million |
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|
|
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CIN No.: [Company Identification
No.] |
U74899DL1982PTC014809 |
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IEC No.: |
Not Available |
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TAN No.: [Tax Deduction &
Collection Account No.] |
DELG00580G |
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PAN No.: [Permanent Account No.] |
AAACG1629C |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Exporter of Human Hair and also Importer of Gambier, Cinnamon,
Calcium Gluconate, Star Aniseed, Almond, Mace, Betel Nut, Clove Stems, etc. |
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|
|
|
No. of Employees
: |
25 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (32) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
USD 64000 |
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|
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Status : |
Moderate |
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|
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate track record. Rating takes into consideration moderate financial risk profile of the
company marked by low reserves and unfavorable gap between trade receivables
and trade payables. However, company has achieved growth in sales turnover in FY14, but
net profit margin reported to be low. However, trade relations are fair. Business is active. Payment terms
are reported to be slow but correct. The company can be considered for business dealings with some
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 – 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 |
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Very High |
C1 |
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Restricted |
C2 |
|
Off-credit |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
|
Rating |
Fund based limits = B+ |
|
Rating Explanation |
Risk prone credit quality and carries very
high credit risk. |
|
Date |
March 2015 |
|
Rating Agency Name |
ICRA |
|
Rating |
Non-Fund based limits = A4 |
|
Rating Explanation |
Minimal degree of safety and very high
credit risk. |
|
Date |
March 2015 |
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. J.K. Jain |
|
Designation : |
Finance Department |
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Contact No.: |
91-9810004967 |
|
Date : |
14.08.2015 |
LOCATIONS
|
Registered Office : |
115, Transport Centre, New Rohtak Road, Near Punjabi Bagh, Delhi – 110035, India |
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Tel. No.: |
91-11-28312398/ 45693899 |
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Mobile No.: |
91-9810004967 (Mr. J.K. Jain) |
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Fax No.: |
91-11-28312396 |
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E-Mail : |
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Website : |
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Vietnam Office : |
1624-A2, 16th Floor, ICON4 Building, 243A De La Thanh Street, Dong Da District, Hanoi- Viet Nam |
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E-Mail : |
DIRECTORS
AS ON 29.09.2014
|
Name : |
Mr. Pawan Kumar Jain |
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Designation : |
Director |
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Address : |
RZ-203B, Sadh Nagar, Palam Colony, Delhi – 110045, India |
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Date of Birth/Age : |
22.08.1962 |
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Date of Appointment : |
24.09.2010 |
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DIN No.: |
00163538 |
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Other Directorship :
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Name : |
Mr. Deepak Daing |
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Designation : |
Director |
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Address : |
37/22, Ashok Marg, Moti Vihar, Gurgaon – 122001, Haryana, India |
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Date of Birth/Age : |
09.08.1959 |
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Date of Appointment : |
10.08.2007 |
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DIN No.: |
00163624 |
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Other Directorship :
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Name : |
Mr. Charanjit Grover |
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Designation : |
Additional director |
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Address : |
4, Ram Kishore Road, Civil Lines, Delhi – 110054, India |
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Date of Birth/Age : |
19.01.1948 |
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Date of Appointment : |
29.09.2014 |
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DIN No.: |
00106807 |
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Other Directorship :
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KEY EXECUTIVES
|
Name : |
Mr. J.K. Jain |
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Designation : |
Finance Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 29.09.2014
|
Names of Shareholders |
|
No. of Shares |
|
Charanjit Grover |
|
1124939 |
|
Grover Farms Private Limited, India |
|
300000 |
|
Pawan Jain |
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1 |
|
Deepak Daing |
|
60 |
|
Mazdoor Extractions Private Limited, India |
|
280000 |
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Urvi Grover |
|
50000 |
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Total |
|
1755000 |
AS ON 29.09.2014
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Bodies
corporate |
33.05 |
|
Directors
or relatives of directors |
66.95 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Exporter of Human Hair and also Importer of Gambier, Cinnamon,
Calcium Gluconate, Star Aniseed, Almond, Mace, Betel Nut, Clove Stems, etc. |
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Brand Names : |
-- |
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Agencies Held : |
-- |
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Exports : |
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Products : |
Human Hair |
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Countries : |
· European Countries · China |
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Imports : |
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Products : |
Spices |
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Countries : |
· China · Thailand · Indonesia · Vietnam |
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Terms : |
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Selling : |
Cash, L/C and Credit |
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Purchasing : |
Cash, L/C and Credit |
PRODUCTION STATUS: NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
Wholesalers and Manufacturer
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No. of Employees : |
25 (Approximately) |
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Bankers : |
·
Tamilnad Mercantile Bank Limited 384-390, I Floor, Lokenath Building, Chandni
Chowk, Delhi – 110006, India ·
Bank of Baroda Najafgarh Road Branch, J - 2/15, Rajouri Garden,
New Delhi - 110027, Delhi, India |
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Facilities : |
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Banking
Relations : |
-- |
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Financial Institutions : |
· Tata Capital Limited · BMW Financial Services India Limited |
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Auditors : |
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Name : |
Surya Praveen and Associates Chartered Accountants |
|
Address : |
59, 2nd Floor, Shabi Market, Mori Gate, Delhi – 110006, India |
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Income-tax
PAN of auditor or auditor's firm : |
AATPK5764A |
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Memberships : |
-- |
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Collaborators : |
-- |
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Associates/Subsidiaries : |
Not Available |
CAPITAL STRUCTURE
AS ON 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2,000,000 |
Equity Shares |
Rs. 10/- each |
Rs. 20.000 Million |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1,755,000 |
Equity Shares |
Rs. 10/- each |
Rs. 17.550
Million |
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|
|
|
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 |
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|
|
|
(1)Shareholders' Funds |
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|
|
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(a) Share Capital |
17.550 |
12.500 |
12.500 |
|
(b) Reserves & Surplus |
4.826 |
2.890 |
0.841 |
|
(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) |
22.376 |
15.390 |
13.341 |
|
|
|
|
|
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(3)
Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
21.904 |
25.452 |
15.968 |
|
(b) Deferred tax liabilities (Net) |
0.135 |
0.135 |
0.135 |
|
(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) |
22.039 |
25.587 |
16.103 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
16.369 |
12.977 |
10.732 |
|
(b)
Trade payables |
78.294 |
78.420 |
33.358 |
|
(c)
Other current liabilities |
5.834 |
4.030 |
1.251 |
|
(d)
Short-term provisions |
0.714 |
0.589 |
0.245 |
|
Total
Current Liabilities (4) |
101.211 |
96.016 |
45.586 |
|
|
|
|
|
|
TOTAL |
145.626 |
136.993 |
75.030 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
8.234 |
6.714 |
2.816 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(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 |
0.707 |
0.707 |
0.707 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan
and Advances |
5.515 |
2.530 |
2.570 |
|
(e)
Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
14.456 |
9.951 |
6.093 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.050 |
0.050 |
0.050 |
|
(b)
Inventories |
42.834 |
33.580 |
23.533 |
|
(c)
Trade receivables |
54.276 |
49.722 |
24.162 |
|
(d)
Cash and cash equivalents |
18.052 |
17.321 |
5.239 |
|
(e)
Short-term loans and advances |
13.825 |
25.434 |
15.789 |
|
(f)
Other current assets |
2.133 |
0.935 |
0.164 |
|
Total
Current Assets |
131.170 |
127.042 |
68.937 |
|
|
|
|
|
|
TOTAL |
145.626 |
136.993 |
75.030 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
260.000
[Approx.] |
270.695 |
105.290 |
|
|
|
Other Income |
NA |
1.386 |
0.837 |
|
|
|
TOTAL (A) |
NA |
272.081 |
106.127 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
|
|
257.846 |
113.158 |
|
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
|
(10.047) |
(20.071) |
|
|
|
Other Direct Expenses |
|
2.550 |
0.569 |
|
|
|
Employees benefits expense |
|
3.536 |
2.455 |
|
|
|
Other expenses |
|
8.551 |
3.562 |
|
|
|
TOTAL (B) |
NA |
262.436 |
99.673 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
(Including
Financial Expenses) |
9.645 |
6.454 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
|
4.809 |
3.914 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
5.747 |
4.836 |
2.540 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
2.219 |
1.725 |
0.702 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
3.528 |
3.111 |
1.838 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
1.592 |
1.062 |
0.682 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
1.936 |
2.049 |
1.156 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’
BALANCE BROUGHT FORWARD |
2.890 |
0.841 |
(0.315) |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
4.826 |
2.890 |
0.841 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Finished Goods |
182.572 |
178.739 |
76.649 |
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
1.10 |
1.64 |
0.92 |
|
|
PARTICULARS |
|
|
31.03.2015 |
|
Sales Turnover (Approximately) |
|
|
270.000 |
|
|
|
|
|
Expected Sales (2015-2016): Rs. 400.000 Million
The above information has been parted by Mr. J.K. Jain (Finance
Department)
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
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 |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
NA |
0.76 |
1.10 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/Sales) |
(%) |
NA |
3.56 |
6.13 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.43 |
2.28 |
2.47 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.16 |
0.20 |
0.14 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.71 |
2.50 |
2.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.30 |
1.32 |
1.51 |
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
|
Particulars |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Share Capital |
12.500 |
12.500 |
17.550 |
|
Reserves & Surplus |
0.841 |
2.890 |
4.826 |
|
Money received against share warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
13.341 |
15.390 |
22.376 |
|
|
|
|
|
|
Long-term borrowings |
15.968 |
25.452 |
21.904 |
|
Short term borrowings |
10.732 |
12.977 |
16.369 |
|
Total
borrowings |
26.700 |
38.429 |
38.273 |
|
Debt/Equity ratio |
2.001 |
2.497 |
1.710 |
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 |
No |
|
18 |
Major suppliers |
Yes |
|
19 |
Major customers |
Yes |
|
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 |
Yes |
|
26 |
Turnover of firm for last three years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
Yes |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
Yes |
|
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 |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
10217444 |
31/03/2015 * |
125,200,000.00 |
STATE BANK OF
INDIA |
SME BRANCH, AJMAL
KHAN ROAD, 12/56, D.R. CHAMBERS, D.B. GUPTA ROAD, KAROL BAGH, NEW DELHI,
DELHI |
C49921927 |
* Date of charge modification
UNSECURED LOANS
|
PARTICULARS |
31.03.2014 (Rs.
In Million) |
31.03.2013 (Rs.
In Million) |
|
LONG-TERM BORROWINGS |
|
|
|
Loans and advances from Corporate |
2.324 |
4.198 |
|
Loans and advances from Others |
15.578 |
18.202 |
|
|
|
|
|
Total |
17.902 |
22.400 |
CHANGE OF ADDRESS:
The Registered Office of the company has been shifted from 61-62,
Transport Centre, New Rohtak Road, Near Punjabi Bagh, Delhi – 110035, India to the present
address w.e.f.05.01.2009.
FIXED ASSETS:
· Computer
· Vehicles
· Mobile Phones
· Office Premises
· Air Conditioner
· Machinery
· Other Equipment
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. 65.12 |
|
|
1 |
Rs. 101.62 |
|
Euro |
1 |
Rs. 72.56 |
INFORMATION DETAILS
|
Information
Gathered by : |
KMN |
|
|
|
|
Analysis Done by
: |
KIN |
|
|
|
|
Report Prepared
by : |
BVA |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
2 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
32 |
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.