MIRA INFORM REPORT
|
Report No. : |
357194 |
|
Report Date : |
29.12.2015 |
IDENTIFICATION DETAILS
|
Name : |
TARZ DISTRIBUTION INDIA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
201, Ackruti Star, 2nd Floor, Central Road, Gautam Nagar, MIDC,
Andheri (East), Mumbai – 400093, Maharashtra |
|
Tel. No.: |
91-22-407510000 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2015 |
|
|
|
|
Date of
Incorporation : |
05.10.2007 |
|
|
|
|
Com. Reg. No.: |
11-218144 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.58.639 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U52100MH2007PTC218144 |
|
|
|
|
IEC No.: |
Not Available |
|
|
|
|
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
: |
To carry on the business of distribute, import, export, purchase,
stock and sell in wholesale or on cash and carry basis fashion, garments,
fragrances, skincare, cosmetics, watches, jewellery, handbags, shoes,
accessories, giftware and other goods. (Registered Activity) |
|
|
|
|
No. of Employees
: |
Information declined by the management
|
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (42) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a subsidiary of Crescent International Limited, Mauritius
incorporated in the year 2007. It has satisfactory track. For the financial year ended 2015, the company has improved its
operational activity marked by decent top line growth along with good profit
earing as compared to previous year losses. Rating reflects the strong support from holding company along with extensive
experience of its promoters. Trade relations are fair. Business is active. Payments are usually
correct. In view of aforesaid, the company can be considered 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.
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 DECLINED BY
|
Name : |
Mr. Rahim Mardhani |
|
Designation : |
Chief Accountant |
|
Contact No.: |
91-22-407510000 |
|
Date : |
28.12.2015 |
LOCATIONS
|
Registered Office : |
201, Ackruti Star, 2nd Floor, Central Road, Gautam Nagar,
MIDC, Andheri (East), Mumbai – 400093, Maharashtra, India |
|
Tel. No.: |
91-22-407510000 |
|
Fax No.: |
Not Available |
|
E-Mail : |
DIRECTORS
AS ON 31.03.2015
|
Name : |
Raji Patrick Chalhoub |
|
Designation : |
Director |
|
Address : |
P.O. Box 16946, Dubai, 16946, United Arab Emirates |
|
Date of Appointment : |
11.05.2009 |
|
DIN No.: |
01898678 |
|
|
|
|
Name : |
Antoine Chalhoub |
|
Designation : |
Director |
|
Address : |
Flat 5001, P.O.Box 261075,, 392/ Marsa, Dubai,
261075, United Arab Emirates |
|
Date of Birth/Age : |
25.07.1955 |
|
Date of Appointment : |
23.12.2009 |
|
DIN No.: |
02871519 |
|
|
|
|
Name : |
Katia Louise Marie Chalhoub |
|
Designation : |
Director |
|
Address : |
Mankhool Area Street 31, Al Tawhidi Villa 17, Dubai,
261075, United Arab Emirates |
|
Date of Birth/Age : |
05.02.1950 |
|
Date of Appointment : |
23.12.2009 |
|
DIN No.: |
02816967 |
|
|
|
|
Name : |
Nigel Aubrey John Lindsay Smith |
|
Designation : |
Director |
|
Address : |
806, Prudential Tower,, Fateh Ganj, Vadodara - 390002,
Gujarat, India |
|
Date of Appointment : |
27.12.2002 |
|
DIN No.: |
06481030 |
|
|
|
|
Name : |
Hani Francois Jabbour |
|
Designation : |
Director |
|
Address : |
Emaar Properties Pjsc, Tower-06, Flat-2002, Burj Dubai
Development, 261125, Syrian Arab Republic |
|
Date of Appointment : |
30.09.2012 |
|
DIN No.: |
06467055 |
KEY EXECUTIVES
|
Name : |
Mr. Rahim Mardhani |
|
Designation : |
Chief Accountant |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 31.03.2015
|
Names of Shareholders |
|
No. of Shares |
|
Sachin Dev Sharma |
|
10000 |
|
Rusi N. Motiwalla |
|
210356 |
|
Pradeep Kumar Handa |
|
501018 |
|
Damas Investments Inc., UAE |
|
152866 |
|
Crescent International Limited, Mauritius |
|
4888920 |
|
Tarz Holding FZCO, UAE |
|
100755 |
|
Total |
|
5863915 |
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 |
99.83 |
|
Other top fifty shareholders |
0.17 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
To carry on the business of distribute, import, export,
purchase, stock and sell in wholesale or on cash and carry basis fashion,
garments, fragrances, skincare, cosmetics, watches, jewellery, handbags,
shoes, accessories, giftware and other goods. (Registered Activity) |
||||
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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 : |
Not Divulged |
PRODUCTION STATUS: NOT AVAILABLE
ENERAL INFORMATION
|
Suppliers : |
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Customers : |
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No. of Employees : |
Information declined by the management
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Bankers : |
IDBI Bank
|
|
Auditors : |
|
|
Name : |
Deloitte Haskins and Sells Chartered Accountant |
|
Address : |
‘Heritage’ 3rd floor, Near Gujarat Vidyapith, Off Ashram Road, Ahmedabad, Gujarat, India |
|
PAN N Income-tax PAN of auditor or auditor's firm : |
AABFD7919A |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
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|
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|
Ultimate Holding
Company: |
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|
|
|
|
Holding Company: |
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Fellow
Subsidiaries: |
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|
Associates: |
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CAPITAL STRUCTURE
AS ON 31.03.2015
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000000 |
Equity Shares |
Rs.10/- each |
Rs. 100.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5863915 |
Equity Shares |
Rs.10/- each |
Rs. 58.639
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 |
58.639 |
58.639 |
58.639 |
|
(b) Reserves & Surplus |
18.208 |
14.537 |
24.354 |
|
(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) |
76.847 |
73.176 |
82.993 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities
(Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
7.419 |
4.633 |
3.601 |
|
Total
Non-current Liabilities (3) |
7.419 |
4.633 |
3.601 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
169.281 |
164.188 |
146.627 |
|
(b) Trade payables |
72.472 |
69.876 |
123.722 |
|
(c) Other current liabilities |
4.714 |
24.680 |
41.813 |
|
(d) Short-term provisions |
0.123 |
0.076 |
0.032 |
|
Total
Current Liabilities (4) |
246.590 |
258.820 |
312.194 |
|
|
|
|
|
|
TOTAL |
330.856 |
336.629 |
398.788 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
8.687 |
10.519 |
15.647 |
|
(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 |
0.859 |
6.570 |
6.617 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
9.546 |
17.089 |
22.264 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
272.565 |
268.937 |
288.192 |
|
(c) Trade receivables |
31.707 |
33.287 |
45.323 |
|
(d) Cash and cash equivalents |
0.958 |
3.163 |
28.505 |
|
(e) Short-term loans and
advances |
16.080 |
14.153 |
14.504 |
|
(f) Other current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
321.310 |
319.540 |
376.524 |
|
|
|
|
|
|
TOTAL |
330.856 |
336.629 |
398.788 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
|
SALES |
|
|
|
|
|
Income |
725.715 |
640.031 |
595.246 |
|
|
Other Income |
31.301 |
48.278 |
8.921 |
|
|
TOTAL
(A) |
757.016 |
688.309 |
604.167 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
TOTAL
(B) |
735.352 |
676.451 |
605.636 |
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (C) |
21.664 |
11.858 |
(1.469) |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
12.606 |
15.517 |
13.703 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
9.058 |
(3.659) |
(15.172) |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION (F) |
5.387 |
6.158 |
6.942 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX (E-F) (G) |
3.671 |
(9.817) |
(22.114) |
|
|
|
|
|
|
|
Less |
TAX (H) |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX (G-H) (I) |
3.671 |
(9.817) |
(22.114) |
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
(441.983) |
(432.166) |
(410.052) |
|
|
|
|
|
|
|
|
Balance
Carried to the B/S |
(438.312) |
(441.983) |
(432.166) |
|
|
|
|
|
|
|
|
EARNINGS
IN FOREIGN CURRENCY |
|
|
|
|
|
FOB value of Exports |
252.618 |
324.404 |
299.645 |
|
|
TOTAL
EARNINGS |
252.618 |
324.404 |
299.645 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
CIF Value of Import |
444.618 |
367.741 |
375.759 |
|
|
TOTAL
IMPORTS |
444.618 |
367.741 |
375.759 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
0.63 |
NA |
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) operations |
12.379 |
(36.179) |
25.353 |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
Net Profit Margin (PAT / Sales) |
(%) |
0.51 |
(1.53) |
(3.72) |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
2.99 |
1.85 |
(0.25) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.11 |
(2.92) |
(5.55) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.05 |
(0.13) |
(0.27) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
2.20 |
2.24 |
1.77 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.30 |
1.23 |
1.21 |
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 |
58.639 |
58.639 |
58.639 |
|
Reserves & Surplus |
24.354 |
14.537 |
18.208 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
82.993 |
73.176 |
76.847 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
146.627 |
164.188 |
169.281 |
|
Total
borrowings |
146.627 |
164.188 |
169.281 |
|
Debt/Equity
ratio |
1.767 |
2.244 |
2.203 |
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 |
595.246 |
640.031 |
725.715 |
|
|
|
7.524 |
13.387 |
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 |
595.246 |
640.031 |
725.715 |
|
Profit |
(22.114) |
(9.817) |
3.671 |
|
|
(3.72%) |
(1.53%) |
0.51% |
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 |
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 |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
INDEX
OF CHARGES: NO CHARGES EXIST FOR COMPANY
BANKING AND FINANCE
Their appreciation of the continued support and financial assistance from HSBC Bank and IDBI Bank.
UNSECURED LOAN
(Rs.
In Million)
|
Particulars |
As
on 31.03.2015 |
As
on 31.03.2014 |
|
SHORT TERM
BORROWING |
|
|
|
Loans and advances from others |
4.015 |
4.016 |
|
Other loans and advances, others |
165.266 |
160.172 |
|
Total |
169.281 |
164.188 |
CONTINGENT
LIABILITIES (AS ON 31.03.2015):
(a) Claims against the Company not acknowledged as debt
Sales Tax / VAT Liability 6.742 Million
Excise Duty * 199.340 Million
* Against this, the Company has given Guarantee of Rs.41.097 Million (previous year nil)
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.66.14 |
|
UK Pound |
1 |
Rs.98.69 |
|
Euro |
1 |
Rs.72.55 |
INFORMATION DETAILS
|
Information
Gathered by : |
PRT |
|
|
|
|
Analysis Done by
: |
TRI |
|
|
|
|
Report Prepared
by : |
KVT |
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 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
|
42 |
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.