MIRA INFORM REPORT

 

 

Report No. :

353741

Report Date :

17.12.2015

 

IDENTIFICATION DETAILS

 

Name :

KWENG ALLOYS PRIVATE LIMITED

 

 

Registered Office :

J- 9 / 66, G.I.D.C. Antalia Bilimora - 396321, Gujarat

Tel. No.:

91-2634-281957

 

 

Country :

India

 

 

Financials (as on) :

31.03.2015

 

 

Date of Incorporation :

12.12.1997

 

 

Com. Reg. No.:

04-033417

 

 

Capital Investment / Paid-up Capital :

Rs.4.700 Million

 

 

CIN No.:

[Company Identification No.]

U27100GJ1997PTC033417

 

 

IEC No.:

Not Divulged

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

Not Available

 

 

PAN No.:

[Permanent Account No.]

Not Available

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Manufacturer of Magnetic Machines and equipment. (Confirmed by management)

 

 

No. of Employees :

50 (Approximately)

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba (41)

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

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

Satisfactory

 

Maximum Credit Limit :

USD 38000

 

 

Status :

Satisfactory

 

 

Payment Behaviour :

Slow but correct

 

 

Litigation :

Clear

 

 

Comments :

Subject is an established company having satisfactory track.

 

The ratings takes into consideration significant increase in its sales turnover of the company along with decent profit margin of nearly 8% in the financial year 2015. However, the scale of operations are appears to be limited and it has reported modest networth base with comfortable debt level.

 

Trade relations are fair. Business is active. Payment terms are reported to be slow but correct.

 

The company can be considered for small business dealings with 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

 

Rating Agency Name

Not Available

Rating

Not Available

Rating Explanation

Not Available

Date

Not Available

 

 

RBI DEFAULTERS’ LIST STATUS

 

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

 

 

EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS

 

Subject’s name is not enlisted as a defaulter in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of 31-03-2015.

 

 

INFORMATION PARTED BY

 

Name :

Mr. Pankit Desai.

Designation :

Director

Contact No.:

91-9601273381

Date :

09.12.2015

 

 

LOCATIONS

 

Registered Office / Factory:

J- 9 / 66, G.I.D.C. Antalia Bilimora - 396321, Gujarat, India

Tel. No.:

91-2634-281957

Mobile No.:

91-9601273331 (Mr. Pankit Desai)

Fax No.:

91-2634-283240

E-Mail :

kwengalloys@yahoo.com

Website :

http://www.kwengmagneticdrives.com 

 

 

DIRECTORS

 

As on 31.03.2015

 

Name :

Ms. Jayshree Jitendra Desai

Designation :

Director

Address :

504 Abhishek Co-Operative Housing Society, Somnath Road, Bilimora - 396321, Gujarat, India

Date of Birth/Age :

25.03.1957

Date of Appointment :

29.09.2007

DIN No.:

01713603

 

 

Name :

Mr. Jitendra Dhirajlal Desai

Designation :

Managing Director

Address :

504 Abhishek Co-Operative Housing Society, Somnath Road, Bilimora - 396321, Gujarat, India

Date of Birth/Age :

04.03.1951

Date of Appointment :

12.12.1997

DIN No.:

01713647

 

 

Name :

Mr. Pallava Jitendra Desai

Designation :

Director

Address :

504 Abhishek Co-Operative Housing Society, Somnath Road, Bilimora - 396321, Gujarat, India

Date of Birth/Age :

22.12.1978

Date of Appointment :

30.09.2008

DIN No.:

02088029

 

 

Name :

Mr. Pankit Jitendra Desai

Designation :

Director

Address :

504 Abhishek Co-Operative Housing Society, Somnath Road, Bilimora - 396321, Gujarat, India

Date of Birth/Age :

01.09.1981

Date of Appointment :

30.09.2008

DIN No.:

02088077

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

As on 31.03.2015

 

Names of Shareholders

No. of Shares

%age holding

Jitendra Dhirajlal Desai

120000

30.00

Jayshree Jitendra Desai

120000

30.00

Pallava Jitendra Desai

80000

20.00

Pankit Jitendra Desai

80000

20.00

Total

400000

100.00

 

 

 

Equity Share Break up (Percentage of Total Equity)

 

As on 30.09.2014

 

Category

Percentage

Directors or relatives of Directors

100.00

Total

100.00

 

 

BUSINESS DETAILS

 

Line of Business :

Manufacturer of Magnetic Machines and equipment. (Confirmed by management)

 

 

Products :

Item Code No.

Product Description

2912

Manufacture of pumps, compressors, taps and valves [hydraulic power engines and motors; pumps for liquids whether or not fitted with measuring devices, including hand pumps and pumps designed for fitting

to internal-combustion piston engines etc.

 

 

Brand Names :

Not Divulged

 

 

Agencies Held :

Not Divulged

 

 

Exports :

Not Available

 

 

Imports :

Not Available

 

 

Terms :

 

Selling :

Cash and Credit (30 / 60 / 90 Days)

 

 

Purchasing :

Cash and Credit (30 / 60 / 90 Days)

 

PRODUCTION STATUS NOT AVAILABLE

 

 

GENERAL INFORMATION

 

Suppliers :
  • Advance Power Control
  • AMBI Enterprise
  • Ankit Enterprise
  • Arihant Corporation
  • Arvind Engineering and Metal Works
  • Crestt Innotech Private Limited
  • Demco Industrial Private Limited
  • Fike India Private Limited
  • Kirti Alloys Limited
  • Kirti Agro Traders
  • Krishna Computers
  • Makharia Machineries Private Limited
  • Makharia Machineries Private Limited, Mumbai
  • Metal Tech Impex Private Limited
  • Nakul Trading Company
  • Noopur Trading Company
  • Oerlikon Baizers Coating India Private Limited
  • Metalab Enterprise
  • DSCOm Corporation
  • Weblink Marketing Private Limited

 

 

Customers :

End Users and OEM’s

 

  • Acetochem Private Limited
  • All Flow Pumps and Engineers
  • Aryan Engineers
  • Bangalore Biotech Lab Private Limited
  • Bectochem Consultant and Engineers Private Limited
  • Bright Pharma Engg. Private Limited
  • Colourtex Industries Limited
  • IDMC Limited
  • Indo Amines Limited
  • J N Products
  • Lyka Labs Limited
  • Khemani Destilieries Limited
  • Scigenics (India) Private Limited
  • Aryan Engineers
  • Atul Limited
  • Ganesh polychem limited
  • IPCA Laboratories
  • MAA Kripa Scrap Traders
  • N R oils
  • R K Laboratories Private Limited
  • Yashashvi Rasayan Private Limited
  • Anjali Infotech

 

 

No. of Employees :

50 (Approximately)

 

 

Bankers :

Bank Name

State Bank of India

Branch

Bilimora, Tal. Gandevi, Navsari, Gujarat, India

Person Name (With Designation)

Not Divulged

Contact Number

91-2367-250863 (Number continuously ringning)

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)

Cash / Credit = Rs. 7.700 Million

Account Operation

Not Divulged

Remarks (If any)

Not Divulged

 

 

Facilities :

Secured Loan

31.03.2015

(Rs. in Million)

31.03.2014

(Rs. in Million)

Long-term Borrowings

 

 

Term loan from bank

 

 

SBI CC 567

9.672

7.467

SBI Vehicle Loan

0.000

0.292

SBI Vehicle Loan 1

0.728

0.000

SBI Vehicle Loan 2

2.254

0.000

Total

12.654

7.759

 

Auditors :

 

Name :

Panwala Kamlesh and Associates

Chartered Accountants

Address :

501, 5th Floor, “Sundaram” Beside I Opposite Mudita NI Mithaio, Palia Street, Surat – 395001, Gujarat, India

Qualification :

C.Com – F.C.A.

Tel No.:

91-261-2479944

Mobile No.:

91-9825906259

Email :

kap1821@jotmail.com

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

AGOPP0629E

 

 

Memberships :

Not Available

 

 

Collaborators :

Not Available

 

 

Associates/Subsidiaries :

Not Available

 

 

CAPITAL STRUCTURE

 

As on 31.03.2015

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

500000

Equity Shares

Rs.10/- each

Rs.5.000 Million

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

400000

Equity Shares

Rs.10/- each

Rs.4.000 Million

 

 

 

 

 

FINANCIAL DATA

[all figures are in Rupees Million]

 

ABRIDGED BALANCE SHEET

 

SOURCES OF FUNDS

31.03.2015

31.03.2014

31.03.2013

 

 

 

 

I.              EQUITY AND LIABILITIES

 

 

 

(1)Shareholders' Funds

 

 

 

(a) Share Capital

4.000

4.000

1.500

(b) Reserves & Surplus

9.288

5.509

3.141

(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)

13.288

9.509

4.641

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

13.654

7.759

8.265

(b) Deferred tax liabilities (Net)

0.971

0.809

0.000

(c) Other long term liabilities

0.000

0.157

1.507

(d) long-term provisions

0.000

0.000

0.000

Total Non-current Liabilities (3)

14.625

8.725

9.772

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

0.000

0.000

0.000

(b) Trade payables

6.487

4.091

3.507

(c) Other current liabilities

0.000

0.000

0.000

(d) Short-term provisions

2.918

2.279

0.534

Total Current Liabilities (4)

9.405

6.370

4.041

 

 

 

 

TOTAL

37.318

24.604

18.454

 

 

 

 

II.          ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

11.041

6.104

5.621

(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

0.010

0.010

0.010

(c) Deferred tax assets (net)

0.000

0.000

0.000

(d)  Long-term Loan and Advances

2.666

1.378

1.487

(e) Other Non-current assets

1.210

0.109

0.101

Total Non-Current Assets

14.927

7.601

7.219

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.319

0.294

0.085

(b) Inventories

12.811

10.814

10.525

(c) Trade receivables

8.460

5.337

-0.655

(d) Cash and cash equivalents

0.633

0.558

1.280

(e) Short-term loans and advances

0.000

0.000

0.000

(f) Other current assets

0.168

0.000

0.000

Total Current Assets

22.391

17.003

11.235

 

 

 

 

TOTAL

37.318

24.604

18.454

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

31.03.2015

31.03.2014

31.03.2013

 

SALES

 

 

 

 

Revenue from Operation

47.018

45.609

 

Other Income

0.430

0.170

 

 

TOTAL (A)

47.448

45.779

19.506

 

 

 

 

 

Less

EXPENSES

 

 

 

 

Cost of Materials Consumed

0.000

0.000

 

 

Purchases of Stock-in-Trade

23.834

25.464

 

 

Changes in inventories of finished goods, work-in-progress and Stock-in-Trade

(1.998)

(0.289)

 

 

Employees benefits expense

8.136

7.012

 

 

Other expenses

8.558

7.335

 

TOTAL (B)

38.530

39.522

19.061

(Including depreciation and finance)

 

 

 

 

 

Less

PROFIT/ (LOSS)  BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (C)

8.918

6.257

 

 

 

 

 

 

Less

FINANCIAL EXPENSES (D)

1.630

1.055

 

 

 

 

 

 

 

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

7.288

5.202

 

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION (F)

1.636

0.701

 

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE TAX (E-F)   (G)

5.652

4.501

0.445

 

 

 

 

 

Less

TAX (H)

1.864

2.133

0.192

 

 

 

 

 

 

PROFIT/ (LOSS)  AFTER TAX  (G-H)   (I)

3.788

2.368

0.253

 

 

 

 

 

Add

PREVIOUS YEARS’ BALANCE BROUGHT FORWARD  (K)

5.509

3.141

2.888

 

 

 

 

 

Add

Adjustment for others

(0.009)

0.000

0.000

 

 

 

 

 

 

Balance Carried to the B/S (J+K+L-M)

9.288

5.509

3.141

 

 

 

 

 

 

EARNINGS IN FOREIGN CURRENCY

 

 

 

 

F.O.B. Value of Exports

3.038

10.863

2.526

 

TOTAL EARNINGS

3.038

10.863

2.526

 

 

 

 

 

 

Earnings / (Loss) Per Share (Rs.)

9.47

13.86

 --

 

 

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

 

Particulars

 

31.03.2015

31.03.2014

31.03.2013

Current Maturities of Long term debt

NA

NA

NA

Cash generated from operations

5.028

(0.185)

NA

Net cash flow from operating activity

5.028

(0.185)

NA

 

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2015

31.03.2014

31.03.2013

Net Profit Margin

(PAT / Sales)

(%)

8.06

5.19

1.30

 

 

 

 

 

Operating Profit Margin

(PBIDT/Sales)

(%)

18.97

13.72

2.28

 

 

 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)

15.15

18.30

2.41

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

0.43

0.47

0.10

 

 

 

 

 

Debt Equity Ratio

(Total Debt /Networth)

 

1.03

0.82

1.78

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

2.38

2.67

2.78

 

 

 

FINANCIAL ANALYSIS

[all figures are in Rupees Million]

 

DEBT EQUITY RATIO

 

Particular

31.03.2013

31.03.2014

31.03.2015

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Share Capital

1.500

4.000

4.000

Reserves & Surplus

3.141

5.509

9.288

Net worth

4.641

9.509

13.288

 

 

 

 

long-term borrowings

8.265

7.759

13.654

Short term borrowings

0.000

0.000

0.000

Total borrowings

8.265

7.759

13.654

Debt/Equity ratio

1.781

0.816

1.028

 

 

 

YEAR-ON-YEAR GROWTH

 

Year on Year Growth

31.03.2013

31.03.2014

31.03.2015

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Sales

19.506

45.779

47.448

 

 

134.692

3.646

 

 

 

NET PROFIT MARGIN

 

Net Profit Margin

31.03.2013

31.03.2014

31.03.2015

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Sales

19.506

45.779

47.448

Profit

0.253

2.368

3.788

 

1.30%

5.17%

7.98%

 

 

 

 

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

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

No

29

Profitability for last three years

Yes

30

Major shareholders, if available

Yes

31

External Agency Rating, if available

No

32

Litigations that the firm/promoter involved in

--

33

Market information

--

34

Payments terms

Yes

35

Negative Reporting by Auditors in the Annual Report

No

 

 

NOTE: Registered office of the company has been shifted from 1, Dirghaya Apartment, Nutanpark Society, Gauharbag, Bilimora, Gujarat, India to the present address w.e.f. 01.12.2007

 

 

STATE OF COMPANY’S AFFAIRS AND FUTURE OUTLOOK

 

The directors report that during the year the company has posted higher gross income of Rs. 47.448 Million in the current year as compared to Rs. 45.779 Million in corresponding previous year. Due to the higher gross income the company has posted higher net profit of Rs. 3.788 Million in the current year as compared to net profit of Rs. 2.368 Million in the corresponding previous year.

 

The company has drawn out ambitious expansion plan in the field of defense magnetics and is looking for appropriate partners.

 

 

UNSECURED LOAN

 

Unsecured Loan

31.03.2015

(Rs. in Million)

31.03.2014

(Rs. in Million)

Long-term Borrowings

 

 

Loans and Advances from Related parties :

 

 

Jitendra D Desai

0.300

0.000

Mrs. Jayashreeben J Desai

0.300

0.000

Pallav J Desai

0.200

0.000

Pankit J Desai

0.200

0.000

Total

1.000

0.000

 

 

INDEX OF CHARGES

 

S.No.

Charge ID

Date of Charge Creation/Modification

Charge amount secured

Charge Holder

Address

Service Request Number (SRN)

1

10123283

24/04/2015 *

29,000,000.00

State Bank of India

College Road, BILLIMORA, Gujarat - 396321, INDIA

C53828075

 

 

FIXED ASSETS

 

  • Factory Building
  • Office Building
  • Computer
  • Plant and Machinery
  • Fax Machinery
  • Furniture and Fitting
  • Furniture and Fixture
  • Library Books
  • Mobile Phones
  • Office Equipment
  • Tata Safari (Vehicle)
  • Maestro Scooter
  • Air Conditioner
  • Lab Equipment
  • Patent
  • Water Cooler
  • Electric Installation

 

 

 

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.66.84

UK Pound

1

Rs.100.57

Euro

1

Rs.73.15

 

 

INFORMATION DETAILS

 

Information Gathered by :

PRP

 

 

Analysis Done by :

KIN

 

 

Report Prepared by :

SUJ

 

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

--PROFITABILITY

1~10

5

--LIQUIDITY

1~10

5

--LEVERAGE

1~10

5

--RESERVES

1~10

5

--CREDIT LINES

1~10

4

--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

NO

--LISTED

YES/NO

NO

--OTHER MERIT FACTORS

YES/NO

YES

DEFAULTER

 

 

--RBI

YES/NO

NO

--EPF

YES/NO

NO

TOTAL

 

41

 

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.