MIRA INFORM REPORT
|
Report No. : |
354536 |
|
Report Date : |
21.12.2015 |
IDENTIFICATION DETAILS
|
Name : |
AFTON CHEMICAL HYDERABAD PRIVATE LIMITED (w.e.f. 30.03.2012) |
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Formerly Known
As : |
POLARTECH INDIA PRIVATE LIMITED (w.e.f. 15.12.1997) FUTECH CHEMICALS PRIVATE LIMITED |
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Registered
Office : |
Plot No. 197, IDA Phase II, Cherlapally, Hyderabad-500051, Telangana |
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Tel. No.: |
91-40-44768937/44768999 |
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Country : |
India |
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Financials (as
on) : |
31.03.2015 |
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Date of
Incorporation : |
19.04.1995 |
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Com. Reg. No.: |
36-020052 |
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Capital
Investment / Paid-up Capital : |
Rs. 56.000 Million |
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CIN No.: [Company Identification
No.] |
U24231TG1995PTC020052 |
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IEC No.: |
0998008672 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
AADCP3112G |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer and Supplier of metal working additives, fuel and lubrication additives for gasoline, ethanol, engine oil, diesel, transmission fluids and gear oil. (Confirmed by management) |
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No. of Employees
: |
300 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
A (64) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
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Maximum Credit Limit : |
USD 880000 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is an established company incorporated in the year 1995 having
good track. Financial position of the company is sound. Balance sheet of the
company is debt free. Fundamentals of the company are strong and healthy. Trade relations are reported as fair. Business is active. Payments
terms are reported to be regular and as per commitment. In view of long track record and strong financial base, the company
can be considered normal for business dealings at 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 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
Not Available |
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Rating |
Not Available |
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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 (GENERAL DETAILS)
|
Name : |
Mr. Nageshwaran Anandam |
|
Designation : |
Nominee Director |
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Contact No.: |
91-9949027318 |
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Date : |
12.12.2015 |
LOCATIONS
|
Registered Office : |
Plot No. 197, IDA Phase II, Cherlapally, Hyderabad-500051, Telangana,
India |
|
Tel. No.: |
91-40-44768937/44768999 |
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Mobile No.: |
91-9949027318 (Mr. Nageshwaran) |
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Fax No.: |
91-40-44768930 |
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E-Mail : |
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Website : |
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Location : |
Rented |
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Locality : |
Commercial |
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Factory : |
C/o LSR Speciality Oils Private Limited, Plot No.G-13/5 to
G-13/7/1, G-13/21,MIDC Area, Taloja, Raigad-410208, Maharashtra, India |
DIRECTORS
As on 31.03.2015
|
Name : |
Mr. Chandrashekar Kandamangalam Subramanian |
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Designation : |
Director |
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Address : |
407, Krishnaveni Emerald, As Rao Nagar, Rukmini Puri, Ecil, Hyderabad-500062, Telangana, India |
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Date of Birth/Age : |
23.05.1959 |
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Date of Appointment : |
30.09.2009 |
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PAN No.: |
AADPC9822F |
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DIN No.: |
02631309 |
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Other Directorship:
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Name : |
Mr. Nageshwaran Anandam |
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Designation : |
Nominee Director |
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Address : |
New No-123, Old No-61, Santhikooda Street, Virudhunagar District, Virudhunagar, 626001, Tamilnadu, India |
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Date of Appointment : |
23.09.2013 |
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DIN No.: |
06697952 |
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Name : |
Mr. Andrew David Walker |
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Designation : |
Nominee Director |
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Address : |
Chez Nou, Ashlane, Elstead, Godalming, GU86ET, United Kingdom |
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Date of Appointment : |
29.05.2014 |
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DIN No.: |
06883279 |
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Other Directorship:
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Name : |
Mr. Michael John Francis Croft |
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Designation : |
Nominee Director |
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Address : |
8 Windsor Quay, Farm Yard, Windsor, SL41AE, United Kingdom |
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Date of Appointment : |
13.02.2015 |
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DIN No.: |
07095310 |
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Other Directorship:
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MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 31.03.2015
|
Names of Equity
Shareholders |
|
No. of Shares |
|
Polartech Additive Holding GmbH, Switzerland |
|
599999 |
|
Afton Chemical Limited |
|
1 |
|
Total |
|
600000 |
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Names of Preference
Shareholders |
|
No. of Shares |
|
Polartech Additive Holding GmbH, Switzerland |
|
5000000 |
|
Total |
|
5000000 |
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 |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Supplier of metal working additives, fuel and lubrication additives for gasoline, ethanol, engine oil, diesel, transmission fluids and gear oil. (Confirmed by management) |
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Products : |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
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Selling : |
Cheque, Credit (60/90 Days) |
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Purchasing : |
Cheque, Credit (60/90 Days) |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
300 (Approximately) |
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Bankers : |
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Auditors : |
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Name : |
Price Waterhouse and Company LLP Chartered Accountants |
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Address : |
3rd Floor, Road No.10, Banjara Hills, Hyderabad-500034, Telangana, India |
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PAN N Income-tax PAN of auditor or auditor's firm : |
AAHFP0187A |
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Memberships : |
-- |
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Collaborators : |
-- |
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Holding Company : |
Polartech Additives Holding AG., Switzerland |
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Ultimate Holding
Company : |
Newmarket Corporation, United States of America |
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Fellow Subsidiaries
: |
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CAPITAL STRUCTURE
As on 30.09.2015
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
600,000 |
Equity Shares |
Rs.10/- each |
Rs. 6.000 Million |
|
14,400,000 |
Preference Shares |
Rs.10/- each |
Rs. 144.000 Million |
|
|
Total
|
|
Rs. 150.000
Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
600,000 |
Equity Shares |
Rs.10/- each |
Rs. 6.000 Million |
|
5,000,000 |
Preference Shares |
Rs.10/- each |
Rs. 50.000
Million |
|
|
Total
|
|
Rs. 56.000 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 |
56.000 |
56.000 |
59.075 |
|
(b) Reserves & Surplus |
251.977 |
206.519 |
188.765 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
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|
|
|
|
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(2) Share Application money pending
allotment |
0.000 |
0.000 |
0.000 |
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Total Shareholders’
Funds (1) + (2) |
307.977 |
262.519 |
247.840 |
|
|
|
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|
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(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
4.935 |
6.817 |
12.041 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
1.315 |
0.915 |
0.949 |
|
Total Non-current
Liabilities (3) |
6.250 |
7.732 |
12.990 |
|
|
|
|
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(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
0.000 |
0.000 |
90.000 |
|
(b) Trade
payables |
58.583 |
78.872 |
71.859 |
|
(c) Other
current liabilities |
7.481 |
4.295 |
5.842 |
|
(d) Short-term
provisions |
2.523 |
3.990 |
1.422 |
|
Total Current
Liabilities (4) |
68.587 |
87.157 |
169.123 |
|
|
|
|
|
|
TOTAL |
382.814 |
357.408 |
429.953 |
|
|
|
|
|
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II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
90.760 |
98.244 |
109.608 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
1.850 |
2.284 |
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 |
1.983 |
1.338 |
8.054 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
94.593 |
101.866 |
117.662 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
95.349 |
114.886 |
190.571 |
|
(c) Trade
receivables |
106.251 |
122.294 |
105.423 |
|
(d) Cash
and cash equivalents |
83.607 |
5.669 |
3.854 |
|
(e)
Short-term loans and advances |
3.014 |
12.693 |
12.443 |
|
(f) Other current
assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
288.221 |
255.542 |
312.291 |
|
|
|
|
|
|
TOTAL |
382.814 |
357.408 |
429.953 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
867.786 |
768.835 |
|
|
|
|
Other Income |
0.533 |
1.090 |
|
|
|
|
TOTAL (A) |
868.319 |
769.925 |
818.544 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
722.661 |
644.720 |
|
|
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
0.144 |
10.192 |
|
|
|
|
Employees benefits expense |
30.972 |
36.455 |
|
|
|
|
Other expenses |
30.204 |
29.893 |
|
|
|
|
TOTAL (B) |
783.981 |
721.260 |
767.990 (including
financial expenses) |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (C) |
84.338 |
48.665 |
|
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES (D) |
0.674 |
5.006 |
|
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION
(C-D) (E) |
83.664 |
43.659 |
50.554 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/ AMORTISATION (F) |
15.888 |
16.127 |
5.057 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX (E-F) (G) |
67.776 |
27.532 |
45.497 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
22.318 |
8.084 |
16.607 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX (G-H) (I) |
45.458 |
19.448 |
28.890 |
|
|
|
|
|
|
|
|
|
|
Profit Carried to Balance
Sheet after Adjustments |
252.000 |
206.519 |
188.765 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN CURRENCY |
27.355 |
17.347 |
21.296 |
|
|
|
|
|
|
|
|
|
|
CIF VALUE OF
CONSUMABLES AND SPARES IMPORTEID INCLUSIVE OF MACHINERY |
4.152 |
3.092 |
0.000 |
|
|
|
|
|
|
|
|
|
|
Earnings / (Loss) Per Share (Rs.) |
67.26 |
23.85 |
NA |
|
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 |
NA |
NA |
NA |
|
Net cash flows from (used in) operation |
133.674 |
113.787 |
32.549 |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
Net Profit Margin (PAT / Total Income) |
(%) |
5.24 |
2.53 |
3.53 |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
9.72 |
6.33 |
NA |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
17.79 |
7.75 |
10.58 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.22 |
0.10 |
0.18 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.00 |
0.00 |
0.36 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
4.20 |
2.93 |
1.85 |
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 |
59.075 |
56.000 |
56.000 |
|
Reserves & Surplus |
188.765 |
206.519 |
251.977 |
|
Net
worth |
247.840 |
262.519 |
307.977 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
90.000 |
0.000 |
0.000 |
|
Total
borrowings |
90.000 |
0.000 |
0.000 |
|
Debt/Equity
ratio |
0.363 |
0.000 |
0.000 |
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) |
|
Total Income |
818.544 |
769.925 |
868.319 |
|
|
|
(5.940) |
12.780 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2013 |
31.03.2014 |
31.03.2015 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Total Income |
818.544 |
769.925 |
868.319 |
|
Profit |
28.890 |
19.448 |
45.458 |
|
|
3.53% |
2.53% |
5.24% |
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 |
Yes |
|
18] |
Major suppliers |
No |
|
19] |
Major customers |
No |
|
20] |
Banking Details |
Yes |
|
21] |
Banking facility details |
No |
|
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 |
INDEX
OF CHARGES NO CHARGES EXIST FOR COMPANY
GENERAL INFORMATION
The Company is a private limited company incorporated under the provisions of the Companies Act 1956 and is primarily engaged in the business of manufacture and sale of products meeting specific customer needs in the fields of metal-working, metal treatment and anti-corrosion.
BUSINESS OPERATIONS
The Company has reported total income of Rs.1040.786 Million in the current year as compared to Rs. 902.492 Million in the previous year. The Net profit for the year under review amounted to Rs. 67.776 Million in the current year as compared to Rs. 27.533 Million in the previous year. The production volume was 5358 MT for the year as compared to 4812 MT in the previous year.
FIXED ASSETS
- Land
- Buildings
- Plant and equipment
- Furniture and fixtures
- Vehicles
- Computer
- 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,
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.66.42 |
|
|
1 |
Rs.99.17 |
|
Euro |
1 |
Rs.72.13 |
INFORMATION DETAILS
|
Information
Gathered by : |
GAY |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
JYTK |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
8 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL
CONDITION |
|
0 |
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILITY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
7 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--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 |
|
64 |
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.