MIRA INFORM REPORT

 

 

Report No. :

337750

Report Date :

20.08.2015

 

IDENTIFICATION DETAILS

 

Name :

COMPACT LAMPS PRIVATE LIMITED

 

 

Registered Office :

D-404, Nagarjuna Apartment, Mayur Kunj, New Delhi – 110096

Tel. No.:

91-9690012714

 

 

Country :

India

 

 

Financials (as on) :

31.03.2014

 

 

Date of Incorporation :

26.08.2005

 

 

Com. Reg. No.:

55-140073

 

 

Capital Investment / Paid-up Capital :

Rs.104.451 Million

 

 

CIN No.:

[Company Identification No.]

U31501DL2005PTC140073

 

 

IEC No.:

0509064078

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

Not Available

 

 

PAN No.:

[Permanent Account No.]

AACCC9863C

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Subject is engaged in manufacturing business of Compact Flourcent Lamps (CFL).

 

 

No. of Employees :

Information declined by the management.

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba (50)

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Maximum Credit Limit :

USD 1100000

 

 

Status :

Good

 

 

Payment Behaviour :

Regular

 

 

Litigation :

Clear

 

 

Comments :

Compact Lamps Private Limited incorporated on 26th August, 2005 it is well established company having fine track record.

 

The rating on Compact Lamps Private Limited reflects healthy financial risk profile marked by growing scale of operations, healthy profitability and improved capital structure backed by comfortable debt coverage indicators during FY 2014.

 

The rating continues to drive strength from the long track record of the company and experienced promoters, established market and cliental of the company.

 

Trade relations are fair. Business is active. Payment are reported to regular as per commitment.

 

In view of decent operational and financial base, the company can be considered normal for business dealings at its 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.

 

 

ECGC Country Risk Classification List – March 31, 2015

 

Country Name

Previous Rating

(31.12.2014)

Current Rating

(31.03.2015)

India

A1

A1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

EXTERNAL AGENCY RATING

 

NOT AVAILABLE

 

 

RBI DEFAULTERS’ LIST STATUS

 

Subject’s name is not enlisted as a defaulter in the publicly available RBI Defaulters’ list.

 

 

EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS

 

Subject’s name is not enlisted as a defaulter in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of 31-03-2013.

 

 

INFORMATION DENIED BY

 

Name :

Mr. Rajesh Kumar

Designation :

Accounts Department

Contact No.:

91-9690012714

Date :

20.08.2015

 

 

LOCATIONS

 

Registered Office :

D-404, Nagarjuna Apartment, Mayur Kunj, New Delhi – 110096, India

Tel. No.:

Not Available

Mobile No.:

91-9690012714 (Mr. Rajesh Kumar)

Fax No.:

Not Available

E-Mail :

cavipulsharma@rediffmail.com

 

 

Factory :

Plot No-C and D, Industrial Area Pipalsana, Ram Negar, District Nanital -244715, Uttarakhand, India

Tel. No.:

91-5947-223366

 

 

DIRECTORS

 

As on 29.09.2014

 

Name :

Mr. Kapil Gupta

Designation :

Director

Address :

House No.349, Sector-15A, Noida - 201301, Uttar Pradesh, India

Date of Birth/Age :

19.12.1961

Date of Appointment :

26.08.2005

DIN No.:

00337427

Other Directorship :

S. No.

CIN/LLPIN

Name of the Company/ LLP

Current designation of the Director/ Designated Partner

Date of appointment at current designation

Original date of appointment

Date of cessation

Company/ LLP Status

Defaulting status

1

U31501DL2005PTC140073

COMPACT LAMPS PRIVATE LIMITED

Director

26/08/2005

26/08/2005

-

Active

NO

2

U72900DL2006PTC151084

RADIXTHINK KPO PRIVATE LIMITED

Director

17/07/2006

17/07/2006

25/07/2012

Active

NO

3

U25209DL2000PTC107441

K3 TRADING PRIVATE LIMITED

Director

05/01/2011

05/01/2011

21/02/2011

Active

NO

4

U31501DL2012PTC230205

ESHAN ELECTRONICS PRIVATE LIMITED

Director

18/01/2012

18/01/2012

-

Under Process of Striking off

NO

5

U31900DL2012PTC231966

KANIK ELECTRONICS PRIVATE LIMITED

Director

23/02/2012

23/02/2012

-

Active

NO

6

U31401DL2013PTC252828

KRITIK ELECTRONICS PRIVATE LIMITED

Director

27/05/2013

27/05/2013

-

Active

NO

 

 

Name :

Sonia Kapil

Designation :

Director

Address :

D-404 Nagarjuna Apartments, Mayur Kunj, Delhi - 110096, India

Date of Birth/Age :

15.10.1962

Date of Appointment :

26.08.2005

DIN No.:

00337471

Other Directorship :

S.  No.

CIN/LLPIN

Name of the Company/ LLP

Current designation of the Director/ Designated Partner

Date of appointment at current designation

Original date of appointment

Date of cessation

Company/ LLP Status

Defaulting status

1

U31501DL2005PTC140073

COMPACT LAMPS PRIVATE LIMITED

Director

26/08/2005

26/08/2005

-

Active

NO

2

U72900DL2006PTC151084

RADIXTHINK KPO PRIVATE LIMITED

Director

17/07/2006

17/07/2006

19/07/2012

Active

NO

3

U25209DL2000PTC107441

K3 TRADING PRIVATE LIMITED

Director

05/01/2011

05/01/2011

21/02/2011

Active

NO

4

U31900DL2012PTC231966

KANIK ELECTRONICS PRIVATE LIMITED

Director

23/02/2012

23/02/2012

-

Active

NO

5

U31401DL2013PTC252828

KRITIK ELECTRONICS PRIVATE LIMITED

Director

27/05/2013

27/05/2013

-

Active

NO

 

 

KEY EXECUTIVES

 

Name :

Juhi Garg

Designation :

Company Secretary

Address :

F-73, First Floor, Sector 27, Near Atta Market, Noida - 201301, Uttar Pradesh, India

Date of Appointment :

17.04.2014

PAN No.:

BJTPG0952N

 

 

Name :

Mr. Rajesh Kumar

Designation :

Accounts Department

 

 

MAJOR SHAREHOLDERS

 

As on 29.09.2014

 

Names of Shareholders

No. of Shares

%age holding

Kapil Gupta

4178045

40.00

Sonia Kapil

6267067

60.00

Total

10445112

100.00

 

 

As on 29.09.2014

 

Equity Share Break up (Percentage of Total Equity)

 

Category

Percentage

Directors or relatives of Directors

100.00

Total

100.00

 

 

BUSINESS DETAILS

 

Line of Business :

Subject is engaged in manufacturing business of Compact Flourcent Lamps (CFL).

 

 

Products :

Compact Flourcent Lamps (CFL)

 

 

Brand Names :

Not Available

 

 

Agencies Held :

Not Available

 

 

Exports :

Not Divulged

 

 

Imports :

Not Divulged

 

 

Terms :

 

Selling :

Not Divulged

 

 

Purchasing :

Not Divulged

 

PRODUCTION STATUS = NOT AVAILABLE

 

 

GENERAL INFORMATION

 

Suppliers :

Reference :

Not Divulged

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Experience :

Not Divulged

Maximum Limit Dealt :

Not Divulged

 

 

Customers :

Reference :

Not Divulged

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Experience :

Not Divulged

Maximum Limit Dealt :

Not Divulged

 

 

No. of Employees :

Information declined by the management.

 

 

Bankers :

Banker Name

Yes Bank Limited

Branch Address

9th Floor, Nehru Centre, Discovery of India, Dr. Annie Besant Road, Worli, Mumbai – 400018, Maharashtra, 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 Account Opening)

Not Divulged

Average Balance Maintained (If Possible)

Not Divulged

Credit Facilities Enjoyed (If any)

Not Divulged

Account Operation

Not Divulged

Remarks (If any)

Not Divulged

 

  • Indusind Bank Limited, Dr. Gopal Das Bhawan, 28 Barakhamba Road, New Delhi – 110001, India

 

 

Facilities :

(Rs. In Million)

SECURED LOAN

As on

31.03.2014

As on

31.03.2013

LONG TERM BORROWING

 

 

Term Loans

0.000

19.551

SHORT TERM BORROWING

 

 

Working Capital loans from banks

543.118

197.606

Other loans and advances

8.845

0.000

Total

551.963

217.157

 

Auditors :

 

Name :

Vipul Sharma and Company

Chartered Accountants

Address :

209, Krishna Apra Plaza, P-3, Sector-18, Noida – 201301, Uttar Pradesh, India

PAN No.:

AUGPS1170H

 

 

Memberships :

Not Available

 

 

Collaborators :

Not Available

 

 

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

with Key management personnel and their relatives :
  • Kanik Electronics Private Limited, India
  • Smart Lights, India
  • Delta Electronics, India

 

 

CAPITAL STRUCTURE

 

As on 31.03.2014

 

Authorised Capital:

No. of Shares

Type

Value

Amount

 

 

 

 

11000000

Equity Shares

Rs.10/- each

Rs.110.000 Million

 

Issued, Subscribed & Paid-up Capital:

No. of Shares

Type

Value

Amount

 

 

 

 

10445112

Equity Shares

Rs.10/- each

Rs.104.451 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

104.451

73.488

35.700

(b) Reserves & Surplus

306.364

121.537

32.067

(c) Money received against share warrants

0.000

0.000

0.000

 

 

 

 

(2) Share Application money pending allotment

0.000

0.000

37.788

Total Shareholders’ Funds (1) + (2)

410.815

195.025

105.555

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

0.000

19.551

41.279

(b) Deferred tax liabilities (Net)

4.686

3.418

2.460

(c) Other long term liabilities

0.000

0.000

0.000

(d) long-term provisions

19.867

9.850

8.500

Total Non-current Liabilities (3)

24.553

32.819

52.239

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

551.963

197.606

176.813

(b) Trade payables

285.863

215.957

177.303

(c) Other current liabilities

109.250

63.839

37.891

(d) Short-term provisions

20.504

10.017

1.350

Total Current Liabilities (4)

967.580

487.419

393.357

 

 

 

 

TOTAL

1402.948

715.263

551.151

 

 

 

 

II.          ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

97.260

85.588

89.646

(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

0.000

0.000

0.000

(c) Deferred tax assets (net)

0.000

0.000

0.000

(d)  Long-term Loan and Advances

51.435

20.817

8.958

(e) Other Non-current assets

0.000

0.000

0.000

Total Non-Current Assets

148.695

106.405

98.604

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

602.929

267.085

202.068

(c) Trade receivables

596.458

333.222

219.629

(d) Cash and cash equivalents

13.161

2.702

4.920

(e) Short-term loans and advances

18.462

2.368

21.435

(f) Other current assets

23.243

3.481

4.495

Total Current Assets

1254.253

608.858

452.547

 

 

 

 

TOTAL

1402.948

715.263

551.151

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

31.03.2014

31.03.2013

31.03.2012

 

SALES

 

 

 

 

Income

 

Other Income

 

 

 

 

TOTAL

3073.456

1345.641

775.479

 

 

 

 

 

Less

EXPENSES

2981.175

1300.558

721.773

 

 

 

 

 

 

PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION

92.281

45.083

53.706

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION

0.000

 0.000

12.755

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE TAX

92.281

45.083

40.951

 

 

 

 

 

Less

TAX

1.269

0.959

8.765

 

 

 

 

 

 

PROFIT/ (LOSS)  AFTER TAX 

91.012

44.124

32.186

 

 

 

 

 

 

Earnings / (Loss) Per Share (Rs.)

8.71

4.22

3.08

 

 

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

 

Particulars

 

31.03.2014

31.03.2013

31.03.2012

Current Maturities of Long term debt

1.762

21.267

20.349

Cash generated from operations

NA

NA

NA

Net cash flows from (used in) operations

(406.240)

(39.850)

(3.100)

 

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2014

31.03.2013

31.03.2012

 

 
 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)

6.58

6.30

7.43

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

0.22

0.23

0.39

 

 

 

 

 

Debt Equity Ratio

(Total Debt/Networth)

 

1.35

1.22

2.26

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

1.30

1.25

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

35.700

73.488

104.451

Reserves & Surplus

32.067

121.537

306.364

Share Application money pending allotment

37.788

0.000

0.000

Net worth

105.555

195.025

410.815

 

 

 

 

long-term borrowings

41.279

19.551

0.000

Short term borrowings

176.813

197.606

551.963

Current Maturities of Long Term Debt

20.349

21.267

1.762

Total borrowings

238.441

238.424

553.725

Debt/Equity ratio

2.259

1.223

1.348

 

 

 

YEAR-ON-YEAR GROWTH

 

Year on Year Growth

31.03.2012

31.03.2013

31.03.2014

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Total Income

775.479

1345.641

3073.456

 

 

73.524

128.401

 

 

 

NET PROFIT MARGIN

 

Net Profit Margin

31.03.2012

31.03.2013

31.03.2014

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Total Income

775.479

1345.641

3073.456

Profit

32.186

44.124

91.012

 

4.15%

3.28%

2.96%

 

 

 

LOCAL AGENCY FURTHER INFORMATION

 

Sr. No.

Check list by info agents

Available in Report (Yes/No)

1

Year of establishment

Yes

2

Constitution of the entity -Incorporation details

Yes

3

Locality of the entity

Yes

4

Premises details

No

5

Buyer visit details

----------------------

6

Contact numbers

Yes

7

Name of the person contacted

Yes

8

Designation of contact person

Yes

9

Promoter’s background

Yes

10

Date of Birth of Proprietor / Partners / Directors

Yes

11

Pan Card No. of Proprietor / Partners

No

12

Voter Id Card No. of Proprietor / Partners

No

13

Type of business

Yes

14

Line of Business

Yes

15

Export/import details (if applicable)

No

16

No. of employees

No

17

Details of sister concerns

Yes

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

Yes

27

Reasons for variation <> 20%

----------------------

28

Estimation for coming financial year

No

29

Profitability for last three years

Yes

30

Major shareholders, if available

Yes

31

External Agency Rating, if available

No

32

Litigations that the firm/promoter involved in

----------------------

33

Market information

----------------------

34

Payments terms

No

35

Negative Reporting by Auditors in the Annual Report

No

 

 

INDEX OF CHARGES

 

S. No.

Charge ID

Date of Charge Creation/Modification

Charge amount secured

Charge Holder

Address

Service Request Number (SRN)

1

10557423

16/03/2015

22,500,000.00

STANDARD CHARTERED BANK

CREDIT RISK CONTROL, NARAIN MANZIL, 23 BARAKHAMBA ROAD, NEW DELHI, DELHI - 110001, INDIA

C47925581

2

10557410

23/04/2015 *

150,000,000.00

STANDARD CHARTERED BANK

CREDIT RISK CONTROL, NARAIN MANZIL, 23 BARAKHAMBA ROAD, NEW DELHI, DELHI - 110001, INDIA

C53522520

3

10557417

23/04/2015 *

50,000,000.00

STANDARD CHARTERED BANK

CREDIT RISK CONTROL, NARAIN MANZIL, 23 BARAKHAMBA ROAD, NEW DELHI, DELHI - 110001, INDIA

C53523940

4

10550025

28/01/2015

50,000,000.00

ICICI BANK LIMITED

LANDMARKRACE COURCE CIRCLE, ALKAPURI, BARODA - 390015, GUJARAT, INDIA

C44040616

5

10550027

28/01/2015

80,000,000.00

ICICI BANK LIMITED

LANDMARKRACE COURCE CIRCLE, ALKAPURI, BARODA - 390015, GUJARAT, INDIA

C44041226

6

10493703

13/05/2015 *

180,000,000.00

AXIS BANK LIMITED

2ND FLOOR, RED FORT CAPITAL, PARSVNATH TOWERS, GOLE MARKET, BHAI VEER SINGH MARG, NEW DELHI, DELHI - 110001, INDIA

C53442166

7

10483749

13/05/2015 *

90,000,000.00

INDUSIND BANK LIMITED

DR. GOPAL DAS BUILDING, 28, BARAKHAMBA ROAD, NEW 
DELHI, DELHI - 110001, INDIA

C56612229

8

10482445

28/01/2014

300,000,000.00

HDFC BANK LIMITED

HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL WEST, MUMBAI - 400013, MAHARASHTRA, INDIA

B98439128

9

10451931

09/09/2014 *

190,000,000.00

YES BANK LIMITED

9TH FLOOR, NEHRU CENTRE, DISCOVERY OF INDIA, DR. 
ANNIE BESANT ROAD, WORLI, MUMBAI - 400018, MAHARASHTRA, INDIA

C20874004

10

10416230

22/02/2013

1,010,000.00

SREI EQUIPMENT FINANCE PRIVATE LIMITED

'VISHWAKARMA', 86C, TOPSIA ROAD, KOLKATA - 700046, WEST BENGAL, INDIA

B72133754

 

* Date of charge modification

 

 

FIXED ASSETS

 

  • Land
  • Buildings
  • 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 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.65.25

UK Pound

1

Rs.102.25

Euro

1

Rs.72.19

 

 

INFORMATION DETAILS

 

Information Gathered by :

SVA

 

 

Analysis Done by :

KYP

 

 

Report Prepared by :

PNM

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

6

PAID-UP CAPITAL

1~10

5

OPERATING SCALE

1~10

6

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

6

--PROFITABILITY 

1~10

6

--LIQUIDITY

1~10

5

--LEVERAGE

1~10

5

--RESERVES

1~10

6

--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

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

 

50

 

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.