MIRA INFORM REPORT

 

 

Report No. :

337114

Report Date :

18.08.2015

 

IDENTIFICATION DETAILS

 

Name :

DHOOT INFRASTRUCTURE PROJECTS LIMITED

 

 

Registered Office :

904-907, Time Tower, |M. G. Road, Sector 28, Gurgaon – 122001, Haryana

Tel. No.:

91-124-4966700

 

 

Country :

India

 

 

Financials (as on) :

31.03.2015 (Provisional)

 

 

Date of Incorporation :

13.06.2005

 

 

Com. Reg. No.:

05-047334

 

 

Capital Investment / Paid-up Capital :

Rs. 19.502 Million

 

 

CIN No.:

[Company Identification No.]

U45201HR2005PLC047334

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

Not Available

 

 

PAN No.:

[Permanent Account No.]

AACCD2118H

 

 

Legal Form :

A Closely Held Public Limited Liability Company

 

 

Line of Business :

Act as Real Estate Developers.

 

 

No. of Employees :

50 (Approximately)

 

 

RATING & COMMENTS

 

MIRA’s Rating :

B (27)

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Maximum Credit Limit :

USD 556000

 

 

Status :

Moderate

 

 

Payment Behaviour :

Slow but correct 

 

 

Litigation :

Clear

 

 

Comments :

Subject is an established company having moderate track record.

 

External Borrowings of the company seems to be huge. There seems drastic dip in the turnover of the company.

 

However, Trade relations are reported as fair. Business is active. Payments are reported to be slow but correct.

 

The company can be considered for normal business dealings with some cautions.

 

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

 

Rating Agency Name

CRISIL

Rating

Long term rating = BB+

Rating Explanation

Have inadequate credit quality and high credit risk

Date

23.07.2015

 

Rating Agency Name

CRISIL

Rating

Short term rating = A4+

Rating Explanation

Have minimal degree of safety carry very high credit risk

Date

23.07.2015

 

 

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. S. S. Kasat

Designation :

General Manager Finance

Contact No.:

91-9582806070

Date :

17.08.2015

 

 

 

LOCATIONS

 

Registered Office :

904-907, Time Tower, M. G. Road, Sector 28,3 Gurgaon – 122001, India

Tel. No.:

91-124-4966700

Mobile No.:

91-9582806070 (Mr. S. S. Kasat)

Fax No.:

91-124-4966799

E-Mail :

sskasat@dhootgroup.net

Website :

http://www.dhootgroup.net

Location:

Owned

Locality  :

Commercial Cum Residential

 

 

Head Office :

5, J.B.S. Haldden Avenue, Silver Arcade, 2nd Floor, Room No. S2, Kolkata – 700105, West Bangal, India

Tel. No.:

91- 33-22517248

Fax No.:

91-33-22517247

 

 

Gurgaon Office :

904 - 907, Time Tower, M.G. Road,  Sector - 28, Gurgaon – 122002, Haryana, India

Tel. No.:

91-124-4966700

Fax No.:

91-124-4966799

 

 

Bombay Office :

504/506, B Wing, 5th Floor, Great Eastern Sumit, Sector- 15, CBD Belapur,
Navi Mumbai – 400614, Maharashtra, India

Tel. No.:

91- 22-67214738/39

Fax No.:

91- 22-67214737

 

 

Indore Office :

Metro Tower, GF, B2 Scheme No. 54,  PU4, Vijay Nagar Square, A.B. Road,
Indore, Madhya Pradesh, India

Tel. No.:

91-731-4029244/45/46

 

 

DIRECTORS

 

AS ON 05.09.2013

 

Name :

Mr. Kedar Nath Dhoot

Designation :

Director

Address :

CF-388,Salt Lake City, Kolkata - 700091, West Bengal, India

Date of Birth/Age :

29.01.19410

Qualification :

Graduate

Date of Appointment :

04.12.2006

DIN No.:

01011549

 

 

Name :

Mr. Piyush Dhoot

Designation :

Director

Address :

CF - 388, Sector - I , Bidhan Nagar, Salt Lake, Kolkata - 700064, West Bengal, India

Date of Birth/Age :

20.12.1986

Qualification :

Graduate

Date of Appointment :

01.03.2012

DIN No.:

01207930

 

 

Name :

Mr. Vaibhav Parmanand Tapdiya

Designation :

Whole-Time Director

Address :

904-907, Time Tower, M. G. Road, Sector-28, Gurgaon - 122001, Haryana, India

Date of Birth/Age :

08.09.1976

Qualification :

Post Graduate

Date of Appointment :

13.06.2005

PAN No.:

AAMPT7928C

DIN No.:

00039309

 

 

KEY EXECUTIVES

 

Name :

Mr. S. S. Kasat

Designation :

General Manager Finance

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

AS ON 05.09.2013

 

Names of Shareholders

No. of Shares

 

Kedar Nath Dhoot

10000

Pawan Kumar Dhoot

10000

Vaibhav Parmanand Tapdiya

3000

Santosh Devi Dhoot

10000

Pushpa Devi Dhoot

10000

Shyam Sunder Malani

3000

Rekha Mundra

4000

Hexagon Commerce Private Limited

700000

Greatwall Vanijya Limited

200000

Citrine Merchants Private Limited

200000

Lalanand Vyapar Private Limited

50000

Ladu Ram Rajkapur

100

West Bengal Vanijya Udyog Limited

100

Dhoot Industrial and Investment Co. Private Limited

350000

P D Global Capital Limited

400000

 

 

Total

 

1950200

 

AS ON 05.09.2013

 

Equity Share Breakup

Percentage of Holding

Category

 

Bodies corporate

97.43

Directors or relatives of directors

2.57

 

 

Total

 

100.00

 

 

BUSINESS DETAILS

 

Line of Business :

Act as Real Estate Developers.

 

 

Brand Names :

--

 

 

Agencies Held :

--

 

 

Exports :

--

 

 

Imports :

--

 

 

Terms :

 

Selling :

Cash and Credit

 

 

Purchasing :

Cash and Credit

 

 

PRODUCTION STATUS: NOT AVAILABLE

 

 

GENERAL INFORMATION

 

Suppliers :

Reference:

Shubham Marmo Private Limited, Delhi , India

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 :

End Users

 

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 :

50 (Approximately)

 

 

Bankers :

Bank Name:

Oriental Bank of Commerce

Branch:

M, Block, Connaught Place, Delhi, India

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

 

 

Facilities :

SECURED LOANS

31.03.2014

(Rs. In Million)

LONG-TERM BORROWINGS

 

Rupee term loans from banks

43.180

Loans taken for vehicles

4.896

 

 

Total

 

48.076

 

Banking Relations :

--

 

 

Auditors :

 

Name :

Viney Mittal and Company

Chartered Accountants

Address :

506, Nitika Tower, Azadpur Commercial Complex, Delhi, India

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

AAIFV2868B

 

 

Memberships :

--

 

 

Collaborators :

--

 

 

Enterprises which are owned, or have significant influence of or are partners

with Key management personnel and their relatives : (AS ON 31.03.2014)

Time Tower Estate Management Services Private Limited (U74120DL2008PTC184993)

 

CAPITAL STRUCTURE

 

AS ON 05.09.2013

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

2,000,000

Equity Shares

Rs. 10/- each

Rs. 20.000 Million

 

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

1,950,200

Equity Shares

Rs. 10/- each

Rs. 19.502 Million

 

 

 

 

 

 

FINANCIAL DATA

[all figures are in Rupees Million]

 

ABRIDGED BALANCE SHEET

 

SOURCES OF FUNDS

 

31.03.2015

(Provisional)

31.03.2014

31.03.2013

I.              EQUITY AND LIABILITIES

 

 

 

(1)Shareholders' Funds

 

 

 

(a) Share Capital

19.502

19.502

19.502

(b) Reserves & Surplus

175.030

147.280

127.572

(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)

194.532

166.782

147.074

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) Long-term borrowings

1569.179

1715.136

1365.519

(b) Deferred tax liabilities (Net)

0.000

0.000

0.000

(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)

1569.179

1715.136

1365.519

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

0.000

0.000

0.000

(b) Trade payables

46.987

61.603

73.984

(c) Other current liabilities

1076.302

898.178

600.133

(d) Short-term provisions

23.604

14.075

8.043

Total Current Liabilities (4)

1146.893

973.856

682.160

 

 

 

 

TOTAL

2910.604

2855.774

2194.753

 

 

 

 

II.            ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

     Gross Block

224.023

223.801

181.798

     Depreciation

(57.712)

(46.811)

0.000

(i) Tangible assets

0.000

0.000

0.000

(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

217.670

216.597

188.214

(c) Deferred tax assets (net)

0.000

0.000

0.000

(d)  Long-term Loan and Advances

75.081

86.452

110.436

(e) Other Non-current assets

0.000

0.000

0.000

Total Non-Current Assets

459.062

480.039

480.448

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.040

0.040

0.040

(b) Inventories

2350.808

2187.292

1563.406

(c) Trade receivables

1.085

2.309

2.658

(d) Cash and cash equivalents

19.102

100.739

78.079

(e) Short-term loans and advances

80.507

85.355

70.122

(f) Other current assets

0.000

0.000

0.000

Total Current Assets

2451.542

2375.735

1714.305

 

 

 

 

TOTAL

2910.604

2855.774

2194.753

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

 

31.03.2015

(Provisional)

31.03.2014

31.03.2013

 

SALES

 

 

 

 

 

Income

350.723

438.818

1035.410

 

 

Other Income

35.743

31.229

19.336

 

 

TOTAL                                     (A)

386.466

470.047

1054.746

 

 

 

 

 

Less

EXPENSES

 

 

 

 

 

Cost of Materials Consumed

317.304

414.529

1013.348

 

 

Employees benefits expense

0.000

0.000

1.714

 

 

administrative Expenses

20.279

17.293

0.000

 

 

Other expenses

0.000

0.000

4.108

 

 

TOTAL                                     (B)

337.583

431.822

1019.170

 

 

 

 

 

 

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

48.883

38.225

35.576

 

 

 

 

 

Less

FINANCIAL EXPENSES                                    (D)

0.546

1.785

0.171

 

 

 

 

 

 

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

48.337

36.440

35.405

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION                     (F)

10.900

10.692

10.655

 

 

 

 

 

 

PROFIT BEFORE TAX (E-F)                              (G)

37.437

25.748

24.750

 

 

 

 

 

Less

TAX                                                                  (H)

9.687

6.040

6.638

 

 

 

 

 

 

PROFIT AFTER TAX (G-H)                                (I)

27.750

19.708

18.112

 

 

 

 

 

 

Earnings Per Share (Rs.)

14.23

10.11

9.29

 

 

Expected Sales (2015-2016): Rs. 1400.000 Million (Due to construction completed)

 

The above information has been parted by Mr. S. S. Kasat (General Manager financial).

 

 

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

 

Particulars

 

31.03.2015

(Provisional)

31.03.2014

31.03.2013

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

 

 

31.03.2015

(Provisional)

31.03.2014

31.03.2013

Net Profit Margin

(PAT / Sales)

(%)

7.91

4.49

1.75

 

 

 

 

 

Operating Profit Margin

(PBDIT/Sales)

(%)

13.94

8.71

3.44

 

 

 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)

1.39

0.98

1.23

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

0.19

0.15

0.17

 

 

 

 

 

Debt Equity Ratio

(Total Liability/Networth)

 

8.07

10.28

9.28

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

2.14

2.44

2.51

 

 

FINANCIAL ANALYSIS

[all figures are in Rupees Million]

 

DEBT EQUITY RATIO

 

Particular

31.03.2013

 

31.03.2014

 

31.03.2015

(Provisional)

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Share Capital

19.502

19.502

19.502

Reserves & Surplus

127.572

147.280

175.030

Money received against share warrants

0.000

0.000

0.000

Share Application money pending allotment

0.000

0.000

0.000

Net worth

147.074

166.782

194.532

 

 

 

 

Long-term borrowings

1365.519

1715.136

1569.179

Short term borrowings

0.000

0.000

0.000

Total borrowings

1365.519

1715.136

1569.179

Debt/Equity ratio

9.285

10.284

8.066

 

 

 

 

YEAR-ON-YEAR GROWTH

 

Year on Year Growth

31.03.2013

 

31.03.2014

 

31.03.2015

(Provisional)

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Sales

1035.410

438.818

350.723

 

 

(57.619)

(20.076)

 

 

 

NET PROFIT MARGIN

 

Net Profit Margin

31.03.2013

 

31.03.2014

 

31.03.2015

(Provisional)

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Sales

1035.410

438.818

350.723

Profit

18.112

19.708

27.750

 

1.75%

4.49%

7.91%

 

 

 

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

Yes

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

Yes

17

Details of sister concerns

Yes

18

Major suppliers

Yes

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

Yes

26

Turnover of firm for last three years

Yes

27

Reasons for variation <> 20%

Yes

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

10427089

26/04/2013

49,000,000.00

ORIENTAL BANK OF COMMERCE

M-1,2,3, CONNAUGHT PLACE, NEW DELHI - 110001, INDIA

B75609107

2

10360085

07/03/2014 *

500,000,000.00

UNION BANK OF INDIA

SME BRANCH, SCO-13, SECTOR-14, GURGAON - 122001, HARYANA, INDIA

C01192939

3

10263638

16/12/2013 *

100,000,000.00

AXIS BANK LIMITED

SCO-29, SECTOR-14, OLD DELHI-GURGAON ROAD, GURGAON - 122001, HARYANA, INDIA

B94494887

4

10238711

22/05/2014 *

180,000,000.00

ORIENTAL BANK OF COMMERCE

M BLOCK 1,2,3, CONNAUGHT PLACE BRANCH, NEW DELHI - 110001, INDIA

C06919583

5

10211134

16/12/2013 *

200,000,000.00

AXIS BANK LIMITED

SCO-29, SECTOR-14, OLD DELHI-GURGAON ROAD, GURGAON - 122001, HARYANA, INDIA

B94495793

 

* Date of charge modification

 

 

UNSECURED LOANS

 

PARTICULARS

31.03.2014

(Rs. In Million)

LONG-TERM BORROWINGS

 

Intercorporate borrowings

1667.061

 

 

Total

 

1667.061

 

 

CHANGE OF ADDRESS:

 

The Registered Office of the Company has been shifted fromD-21, Lower Ground Floor, Lajpat Nagar – I, New Delhi, 110024, India to the present address w.e.f. 17.07.2012

 

 

OPERATIONS: (AS ON 31.03.2014)

 

The Gross receipt of the Company for the year ended 31 st March, 2014 is Rs. 470.047 Million. The profit and Loss Account of the Company shows a net Profit of Rs. 25.747 Million before provisions of Income Tax.

 

 

FIXED ASSETS: (AS ON 31.03.2014)

 

·         Buildings

·         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.65.22

UK Pound

1

Rs.102.23

Euro

1

Rs.72.39

 

 

INFORMATION DETAILS

 

Information Gathered by :

DIP

 

 

Analysis Done by :

RAS

 

 

Report Prepared by :

ARC

 

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

4

PAID-UP CAPITAL

1~10

4

OPERATING SCALE

1~10

3

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

3

--PROFITABILIRY

1~10

3

--LIQUIDITY

1~10

3

--LEVERAGE

1~10

1

--RESERVES

1~10

3

--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

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

 

27

 

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.