MIRA INFORM REPORT
|
Report No. : |
337214 |
|
Report Date : |
18.08.2015 |
IDENTIFICATION DETAILS
|
Name : |
SUNVIK STEELS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
No 23, 3rd Floor, Next Mother Theresa School, Bahubali Nagar,
MES Road, Jalahalli, Bangalore – 560013, Karnataka |
|
Tel. No.: |
91-80-23084700 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
11.09.2003 |
|
|
|
|
Com. Reg. No.: |
08-032546 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 307.500 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U27310KA2003PTC032546 |
|
|
|
|
IEC No.: |
Not Available |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
BLRS14283D |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAHCS6286N |
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|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of sponge iron, MS ingots, TMT Bars etc. and also engaged
in power generation. |
|
|
|
|
No. of Employees
: |
33 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 1200000 |
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|
|
|
Status : |
Satisfactory |
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|
|
|
Payment Behaviour : |
Usually correct |
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|
|
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Litigation : |
Clear |
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|
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Comments : |
Subject is an established company having satisfactory track. Rating takes into consideration company’s sound financial risk profile
marked by above average net worth base and extensive industry experience of
its promoters in the steel business. Trade relations are fair. Business is active. Payment terms are
reported to be usually correct. The company can be considered for business dealings at usual trade
terms and condition. |
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 = BBB- |
|
Rating Explanation |
Moderate degree of safety and moderate
credit risk |
|
Date |
02.07.2014 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short Term Rating = A3 |
|
Rating Explanation |
Moderate degree of safety and high credit
risk |
|
Date |
02.07.2014 |
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 : |
Ms. Pushpa |
|
Designation : |
Assistant Accounts Manager |
|
Contact No.: |
91-80-23084700 |
|
Date : |
17.08.2015 |
LOCATIONS
|
Registered Office : |
No 23, 3rd Floor, Next Mother Theresa School, Bahubali
Nagar, MES Road, Jalahalli, Bangalore – 560013, Karnataka, India |
|
Tel. No.: |
91-80-23084700 |
|
Mobile No.: |
91- |
|
Fax No.: |
91-80-23084799 |
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E-Mail : |
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|
Website : |
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Area : |
Owned |
|
|
|
|
Factory : |
Survey No. 59-72, Jodidevarahalli, Kallambella Hobli, Sira
Taluk, District Tumkur – 572125, Karnataka, India |
DIRECTORS
AS ON 30.09.2014
|
Name : |
Mr. Vivek Kumar Kejriwal |
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|
Designation : |
Managing director |
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|
Address : |
G-13/04, Platinum City, Yeshwantpur, Bangalore – 560022, Karnataka,
India |
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|
Date of Birth/Age : |
19.01.1971 |
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Date of Appointment : |
11.09.2003 |
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PAN No.: |
ACXPV7536R |
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DIN No.: |
00798892 |
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Other Directorship :
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Name : |
Mr. Mahendra Kumar Prathaviraj Kachhara |
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Designation : |
Director |
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|
Address : |
# 9-D, Abhilasha, August Kranti Marg, Mumbai – 400036, Maharashtra,
India |
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|
Date of Birth/Age : |
11.02.1962 |
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Date of Appointment : |
11.09.2003 |
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DIN No.: |
02283218 |
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Other Directorship :
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|
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|
Name : |
Mr. Sandeep Manoharlal Shishodia |
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|
Designation : |
Director |
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|
Address : |
Sun Metal Castings, LLC, PO Box 3787, Ajman, UAE |
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Date of Birth/Age : |
26.10.1973 |
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|
Date of Appointment : |
11.09.2003 |
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PAN No.: |
BHOPS3381N |
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|
DIN No.: |
02908284 |
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KEY EXECUTIVES
|
Name : |
Ms. Pushpa |
|
Designation : |
Assistant Accounts Manager |
MAJOR SHAREHOLDERS
AS ON 30.09.2014
|
Names of Equity
Shareholders |
|
No.
of Shares |
|
Vivek Kumar Kejriwal |
|
4345043 |
|
Mahendra Kumar Prathaviraj Kachhara |
|
169600 |
|
Sandeep M Shishodia |
|
4304937 |
|
Anju Kejriwal |
|
50000 |
|
Ashok K Kothari |
|
100 |
|
Rajendra Jain |
|
100 |
|
Sajjan Devi Kachhara |
|
600100 |
|
Manoj Kumar Jain |
|
10 |
|
Madan Lal |
|
10 |
|
Anjana Devi Ranka |
|
860000 |
|
Premdevi Surender Kachhara |
|
2670100 |
|
|
|
|
|
Total |
|
13000000 |
|
Names of Preference Shareholders |
|
No. of Shares |
|
Usha Vasant Shah and Others |
|
15000 |
|
Ashok Vasanji Dedhia and Others |
|
18500 |
|
Kamlesh Meghji Gada and Others |
|
13500 |
|
Vishanji Meghji Rajgor and Others |
|
25000 |
|
Savajsingh Jethuba Gohil and Others |
|
24000 |
|
Kishor Virji Gala and Others |
|
19000 |
|
Madhvji S. Katira HUF and Others |
|
13500 |
|
Praga Pankaj Gala and Others |
|
15000 |
|
Vasanji Premji Gala and Others |
|
14000 |
|
|
|
|
|
Total |
|
147500 |
Equity Share Break up (Percentage of Total Equity)
AS ON 30.09.2014
|
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 |
33.11 |
|
Directors or relatives of directors |
60.27 |
|
Other top fifty shareholders |
6.62 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of sponge iron, MS ingots, TMT Bars etc. and also engaged
in power generation. |
|
|
|
|
Products : |
Not Divulged |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
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Products : |
Finished Goods |
|
Countries : |
Dubai |
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|
|
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Imports : |
|
|
Products : |
Raw Material |
|
Countries : |
UAE |
|
|
|
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Terms : |
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Selling : |
Cash and Cheque |
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|
|
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Purchasing : |
Cash and Cheque |
GENERAL INFORMATION
|
Suppliers : |
Not Divulged
|
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Customers : |
Not Divulged
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No. of Employees : |
33 (Approximately) |
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Bankers : |
|
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Facilities : |
(Rs.
In Million)
|
|
Auditors : |
|
|
Name : |
P K Rungta and Company Chartered Accountants |
|
Address : |
D-1, Jyothi Chmabers, # 134/1, Infantry Road, Bangalore-560001,
Karnataka, India |
|
PAN No.: |
AAJPR5048Q |
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|
|
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Memberships : |
-- |
|
|
|
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Collaborators : |
-- |
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|
|
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Associates/Subsidiaries : |
|
CAPITAL STRUCTURE
AS ON 30.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
16000000 |
Equity Shares |
Rs.10/- each |
Rs. 160.000 Million |
|
3400000 |
Preferences Shares |
Rs. 100/- each |
Rs. 340.000 Million |
|
|
Total |
|
Rs. 500.000
Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
13000000 |
Equity Shares |
Rs.10/- each |
Rs. 130.000
Million |
|
1775000 |
Preference Shares |
Rs. 100/- each |
Rs. 177.500
Million |
|
|
Total |
|
Rs. 307.500 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 |
307.500 |
307.500 |
220.000 |
|
(b) Reserves & Surplus |
130.803 |
120.492 |
107.903 |
|
(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) |
438.303 |
427.992 |
327.903 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
577.801 |
539.672 |
613.540 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
3.689 |
|
(c) Other long term
liabilities |
0.100 |
0.100 |
0.100 |
|
(d) long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
577.901 |
539.772 |
617.329 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
361.074 |
388.276 |
259.501 |
|
(b) Trade
payables |
214.014 |
138.155 |
293.056 |
|
(c) Other
current liabilities |
186.170 |
128.122 |
126.176 |
|
(d) Short-term
provisions |
11.035 |
11.499 |
27.729 |
|
Total Current
Liabilities (4) |
772.293 |
666.052 |
706.462 |
|
|
|
|
|
|
TOTAL |
1788.497 |
1633.816 |
1651.694 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
755.785 |
833.996 |
819.755 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
10.007 |
0.000 |
0.000 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.499 |
|
(b) Non-current Investments |
0.010 |
0.010 |
0.010 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
18.222 |
18.222 |
15.472 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
784.024 |
852.228 |
835.736 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
707.446 |
527.578 |
451.411 |
|
(c) Trade
receivables |
197.853 |
152.091 |
245.520 |
|
(d) Cash
and cash equivalents |
51.285 |
36.683 |
39.610 |
|
(e)
Short-term loans and advances |
47.889 |
65.236 |
79.417 |
|
(f) Other
current assets |
0.000 |
0.000 |
0.000 |
|
Total Current
Assets |
1004.473 |
781.588 |
815.958 |
|
|
|
|
|
|
TOTAL |
1788.497 |
1633.816 |
1651.694 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
|
|
|
|
|
|
|
|
SALES |
|
NA |
NA |
|
|
|
|
|
|
|
|
EXPENSES |
|
NA |
NA |
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
|
122.550 |
142.788 |
|
|
|
|
|
|
|
|
DEPRECIATION/
AMORTISATION |
|
103.618 |
119.009 |
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
|
18.932 |
23.779 |
|
|
|
|
|
|
|
|
TAX |
|
7.829 |
(8.483) |
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
|
10.311 |
12.589 |
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
|
0.70 |
0.85 |
|
Particulars |
|
|
31.03.2015 |
|
Sales Turnover (Approximately) |
|
|
3500.000 |
|
|
|
|
|
Expected Sales (2015-16): Rs. 3750.000 Million
The above information has been parted by Ms. Pushpa (Assistant Accounts
Manager)
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) operation |
NA |
NA |
NA |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.06 |
1.46 |
NA |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.04 |
0.06 |
NA |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
2.14 |
2.17 |
2.66 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.30 |
1.17 |
1.15 |
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 |
220.000 |
307.500 |
307.500 |
|
Reserves & Surplus |
107.903 |
120.492 |
130.803 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
327.903 |
427.992 |
438.303 |
|
|
|
|
|
|
long-term borrowings |
613.540 |
539.672 |
577.801 |
|
Short term borrowings |
259.501 |
388.276 |
361.074 |
|
Current Maturities of Long
Term Debt |
0.000 |
0.000 |
0.000 |
|
Total
borrowings |
873.041 |
927.948 |
938.875 |
|
Debt/Equity
ratio |
2.662 |
2.168 |
2.142 |
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 |
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 |
Yes |
|
26 |
Turnover of firm for last three years |
No |
|
27 |
Reasons for variation <> 20% |
----- |
|
28 |
Estimation for coming financial year |
Yes |
|
29 |
Profitability for last two 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 |
NOTE: Registered office of the company has been
shifted from G/1/11, First Floor, Platinum City, Yeshwanthpur, Bangalore –
560022, Karnataka, India to the present
address w.e.f. 26.11.2012.
UNSECURED LOAN
|
Particulars |
As
on 31.03.2014 |
As
on 31.03.2013 |
|
LONG TERM
BORROWING |
|
|
|
Loans and advances from directors |
404.346 |
146.516 |
|
Loans and advances from others |
0.000 |
47.500 |
|
SHORT TERM
BORROWING |
|
|
|
Working capital loans from banks |
0.000 |
388.276 |
|
Total |
404.346 |
582.292 |
|
|
|
|
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10199649 |
16/01/2010 |
500,000.00 |
Axis Bank Limited |
SME Centre, # 41, Sheshadri Road, Anand Rao Circle, Bangalore, Karnataka - 560009, INDIA |
A78396322 |
|
2 |
10168355 |
24/06/2009 * |
315,000,000.00 |
STATE BANK OF INDIA |
INDUSTRIAL FINANCE BRANCH, WORLD TRADE CENTRE, CUFFE PARADE, MUMBAI, Maharashtra - 400005, INDIA |
A67413922 |
|
3 |
80014069 |
10/02/2015 * |
905,900,000.00 |
State Bank of India (Lead Bank) |
Industrial Finance
Branch, The Arcade, 2nd Floor, INDIA |
C46516548 |
* Date of charge modification
FIXED ASSETS
- Land
- Building
- Plant and
Equipments
- Furniture and
Fixture
- Vehicles
- Office
Equipments
- Computer
Equipments
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 records 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 : |
GYT |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
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 |
5 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILITY |
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 |
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 |
|
45 |
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.