MIRA INFORM REPORT
|
Report No. : |
305961 |
|
Report Date : |
02.02.2015 |
IDENTIFICATION DETAILS
|
Name : |
TANAYA ENTERPRISES PRIVATE LIMITED |
|
|
|
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Registered
Office : |
D-14, Ansa Industrial Estate, Sakinaka, Andheri (East), Mumbai – 400072,
Maharashtra |
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Country : |
India |
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Financials (as
on) : |
31.03.2013 |
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Date of
Incorporation : |
01.10.2008 |
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Com. Reg. No.: |
11-187227 |
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Capital
Investment / Paid-up Capital : |
Rs.43.320 Millions |
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|
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CIN No.: [Company Identification
No.] |
U52390MH2008PTC187227 |
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TIN No.: |
Not Available |
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IEC No.: |
Not Available |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
AADCT0488P |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturing and Trading of Fabrics. |
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|
|
No. of Employees
: |
Information denied by management |
RATING & COMMENTS
|
MIRA’s Rating : |
B (33) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate track record. The management has filed form 20 B depicting annual return for FY
2014, whereas failed to file any financial statements with the statutory authorities.
As per available, the company possesses an acceptable financial
profile marked by adequate networth base along with infusion of funds from
its promotors. Simultaneously, the management has reported a pile of receivables as
well as payables resulting into working capital requirements. However, trade relations seems to be fair. Business is active. Payment
terms are reported as unknown. In view of lack of latest financial statements, the company can be
considered for business dealings with some caution. |
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 |
CRISIL |
|
Rating |
Long Term Rating = BBB- (Suspended) |
|
Rating Explanation |
Moderate degree of safety and moderate
credit risk |
|
Date |
18.12.2014 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short
Term Rating = A3 (Suspended) |
|
Rating Explanation |
Moderate degree of safety and very high
credit risk |
|
Date |
18.12.2014 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2014.
INFORMATION DENIED BY
|
Name : |
Mr. Mihir |
|
Designation : |
Finance Executive |
|
Contact No.: |
91-22-40479898 |
|
Date : |
30.01.2015 |
LOCATIONS
|
Registered Office : |
D-14, Ansa Industrial Estate, Sakinaka, Andheri (East), Mumbai –
400072, Maharashtra, India |
|
Tel. No. : |
91-22-40350707 |
|
Fax No. : |
91-22-40350705 / 40350703 |
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E-Mail : |
|
|
Location : |
Owned |
DIRECTORS
As on 30.09.2014
|
Name : |
Mr. Punit Shivkumar Agarwal |
|
Designation : |
Managing Director |
|
Address : |
2, Shweta Building, Plot No. 42, 1st Gulmohar Cross Road,
Juhu, Mumbai – 400049, Maharashtra, India |
|
Date of Birth/Age : |
19.3.1977 |
|
Date of Appointment : |
01.10.2008 |
|
PAN No. : |
AAJPA5006B |
|
DIN No. : |
00325616 |
|
|
|
|
Name : |
Ms. Nitu Punit Agarwal |
|
Designation : |
Director |
|
Address : |
2, Shweta Building, Plot No. 42, 1st Gulmohar Cross Road,
Juhu, Mumbai – 400049, Maharashtra, India |
|
Date of Birth/Age : |
08.07.1976 |
|
Date of Appointment : |
01.10.2008 |
|
PAN No. : |
AAAPM9733G |
|
DIN No. : |
01506024 |
KEY EXECUTIVES
|
Name : |
Mr. Mihir |
|
Designation : |
Finance Executive |
MAJOR SHAREHOLDERS
As on 30.09.2014
|
Names of Shareholders |
No. of Shares |
% of Holding |
|
Punit Shivkumar Agarwal |
1846900 |
42.63 |
|
Nitu Punit Agarwal |
340000 |
7.85 |
|
Punit Agarwal HUF |
1573100 |
36.31 |
|
Adnya Trading Private Limited, India |
286000 |
6.60 |
|
Inline Trader Private Limited, India |
286000 |
6.60 |
|
Total |
4332000 |
100.00 |
Equity Share Break up (Percentage of Total Equity)
As on 30.09.2014
|
Category |
Percentage |
|
Bodies corporate |
13.20 |
|
Directors or relatives of Directors |
50.49 |
|
Others |
36.31 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing and Trading of Fabrics. |
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|
|
|
Products : |
Fabrics |
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Brand Names : |
-- |
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Agencies Held : |
-- |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
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Selling : |
Not Divulged |
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Purchasing : |
Not Divulged |
PRODUCTION STATUS – NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
Information denied by management |
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Bankers : |
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Facilities : |
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Auditors : |
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Name : |
Singrodia Goyal and Company Chartered Accountants |
|
Address : |
4 A, Kaledonia – HDIL, 2nd floor, Sahar Road, Near Andheri Station, Andheri (East), Mumbai – 400069, Maharashtra, India |
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PAN
No. : |
AAAFS7106D |
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|
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Memberships : |
-- |
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Collaborators : |
-- |
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Subsidiaries : |
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Enterprises owned or significantly
influenced by Key Management Personnel with whom the Company has transactions
: |
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CAPITAL STRUCTURE
As on 30.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4500000 |
Equity Shares |
Rs.10/- each |
Rs.45.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4332000 |
Equity Shares |
Rs.10/- each |
Rs.43.320 Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
43.320 |
34.760 |
22.260 |
|
(b) Reserves & Surplus |
252.907 |
148.683 |
85.390 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
0.000 |
0.000 |
24.700 |
|
Total
Shareholders’ Funds (1) + (2) |
296.227 |
183.443 |
132.350 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
3.012 |
8.500 |
0.767 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
21.000 |
0.000 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
3.012 |
29.500 |
0.767 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
162.516 |
125.973 |
0.083 |
|
(b) Trade
payables |
202.180 |
34.439 |
18.132 |
|
(c) Other
current liabilities |
20.199 |
23.101 |
6.413 |
|
(d) Short-term
provisions |
27.179 |
4.887 |
0.454 |
|
Total Current
Liabilities (4) |
412.074 |
188.400 |
25.082 |
|
|
|
|
|
|
TOTAL |
711.313 |
401.343 |
158.199 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
3.677 |
0.122 |
0.168 |
|
(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 |
150.974 |
151.373 |
116.917 |
|
(c) Deferred tax assets (net) |
0.007 |
0.017 |
0.001 |
|
(d) Long-term Loan and Advances |
6.330 |
0.025 |
0.025 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
160.988 |
151.537 |
117.111 |
|
|
|
|
|
|
(2) Current
assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
51.545 |
50.108 |
1.223 |
|
(c) Trade
receivables |
285.844 |
119.531 |
15.549 |
|
(d) Cash
and cash equivalents |
203.091 |
63.968 |
0.489 |
|
(e) Short-term
loans and advances |
4.841 |
0.251 |
23.827 |
|
(f) Other
current assets |
5.004 |
15.948 |
0.000 |
|
Total
Current Assets |
550.325 |
249.806 |
41.088 |
|
|
|
|
|
|
TOTAL |
711.313 |
401.343 |
158.199 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
||
|
|
SALES |
|
|
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||
|
|
|
|
|
641.959 |
123.289 |
|
|
|
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Other Income |
|
1.116 |
0.146 |
|
|
|
|
TOTAL (A) |
2379.226 |
643.075 |
123.435 |
|
|
|
|
|
|
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||
|
Less |
EXPENSES |
|
|
|
||
|
|
|
|
|
658.669 |
114.813 |
|
|
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
|
(48.885) |
3.375 |
|
|
|
|
Employees benefits expense |
|
3.099 |
1.724 |
|
|
|
|
Prior Period Item |
|
0.000 |
0.037 |
|
|
|
|
Other expenses |
|
3.926 |
1.668 |
|
|
|
|
TOTAL (B) |
2297.461 |
616.809 |
121.617 |
|
|
|
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|
|
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||
|
|
PROFIT/(LOSS)
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
(Including Financial
and Depreciation) |
26.266 |
1.818 |
||
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|
|
|
|
|
||
|
Less |
FINANCIAL
EXPENSES (D) |
|
6.362 |
0.596 |
||
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D)
(E) |
|
19.904 |
1.222 |
||
|
|
|
|
|
|
||
|
Less |
DEPRECIATION/
AMORTISATION (F) |
|
0.032 |
0.023 |
||
|
|
|
|
|
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||
|
|
PROFIT/(LOSS)
BEFORE TAX (E-F) (G) |
81.765 |
19.872 |
1.199 |
||
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|
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||
|
Less |
TAX (H) |
28.831 |
6.485 |
0.466 |
||
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||
|
|
PROFIT/(LOSS)
AFTER TAX (G-H) (I) |
52.934 |
13.387 |
0.733 |
||
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EARNINGS IN
FOREIGN CURRENCY |
|
|
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||
|
|
|
Export Earnings |
15.467 |
37.775 |
NA |
|
|
|
TOTAL EARNINGS |
15.467 |
37.775 |
NA |
||
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||
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|
IMPORTS |
|
|
|
||
|
|
|
Purchases |
NA |
3.891 |
0.000 |
|
|
|
TOTAL IMPORTS |
NA |
3.891 |
0.000 |
||
|
|
|
|
|
|
||
|
|
Earnings /
(Loss) Per Share (Rs.) |
15.21 |
5.98 |
0.55 |
||
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
Net Profit Margin (PAT/Sales) |
(%) |
NA |
2.09 |
0.59 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/Sales) |
(%) |
NA |
4.09 |
1.47 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
14.59 |
7.95 |
2.90 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.28 |
0.11 |
0.01 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.56 |
0.73 |
0.01 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.34 |
1.33 |
1.64 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
Rs.
In Millions |
Rs.
In Millions |
Rs.
In Millions |
|
Share Capital |
22.260 |
34.760 |
43.320 |
|
Reserves & Surplus |
85.390 |
148.683 |
252.907 |
|
Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money pending allotment |
24.700 |
0.000 |
0.000 |
|
Net
worth |
132.350 |
183.443 |
296.227 |
|
|
|
|
|
|
Long Term borrowings |
0.767 |
8.500 |
3.012 |
|
Short Term borrowings |
0.083 |
125.973 |
162.516 |
|
Total
borrowings |
0.850 |
134.473 |
165.528 |
|
Debt/Equity
ratio |
0.006 |
0.733 |
0.559 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
Rs.
In Millions |
Rs.
In Millions |
Rs.
In Millions |
|
Total Income |
123.435 |
643.075 |
2,379.226 |
|
|
|
420.983 |
269.976 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
Rs.
In Millions |
Rs.
In Millions |
Rs.
In Millions |
|
Total Income |
123.435 |
643.075 |
2,379.226 |
|
Profit |
0.733 |
13.387 |
52.934 |
|
|
0.59% |
2.08% |
2.22% |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
Rs.
In Millions
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
Current maturities of long term debt |
0.669 |
0.767 |
0.868 |
|
Total |
0.669 |
0.767 |
0.868 |
|
Sr. No. |
Check List by Info Agents |
Available in
Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
No |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact
person |
Yes |
|
11] |
Turnover of firm for last
three years |
Yes |
|
12] |
Profitability for last
three years |
Yes |
|
13] |
Reasons for variation
<> 20% |
----------- |
|
14] |
Estimation for coming
financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details
(if applicable) |
No |
|
21] |
Market information |
---------- |
|
22] |
Litigations that the firm
/ promoter involved in |
---------- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking
account |
---------- |
|
26] |
Buyer visit details |
---------- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
No |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of
Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
UNSECURED LOANS:
|
Particulars |
31.03.2013 Rs. In Millions |
31.03.2012 Rs. In Millions |
|
LONG TERM BORROWINGS |
|
|
|
Intercorporate borrowings |
0.000 |
8.500 |
|
SHORT TERM BORROWINGS |
|
|
|
Loans repayable on demand from others |
4.700 |
0.000 |
|
Intercorporate borrowings |
8.500 |
0.000 |
|
Total |
13.200 |
8.500 |
PERFORMANCE OVERVIEW
The company is has continued expanding its operations. The operating revenue for the FY2012-13 registered growth of 270%. The profit after tax, grew by 295%, in line with the revenue growth. The EPS for the year grew to Rs.15.21 per share to Rs.5.98 per share on the expanded share capital.
During the year, the subsidiaries of the company have also registered growth in revenues : MAX Apex Limited., Hong Kong at 60% and VEMB Lifestyle LLC, UAE at over 130%.
INDEX OF CHARGE:
|
Sr. No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10508611 |
17/06/2014 |
160,000,000.00 |
Central Bank Of
India |
Kasturi Building,
Opp Petroleum House, J. Tata Road, Mumbai, Maharashtra - 400020, India |
C10992279 |
|
2 |
10459883 |
01/10/2013 |
10,500,000.00 |
Central Bank Of
India |
Churchgate
Branch, Kasturi Building, Opposite, Petroleum House, J.Tata Road, Mumbai, Maharashtra
- 400020, India |
B89412621 |
|
3 |
10373048 |
04/07/2013 * |
80,000,000.00 |
Central Bank Of
India |
Churchgate
Branch, Kasturi Building, Opposite, Petroleum House, J.Tata Road, Mumbai,
Maharashtra - 400020, India |
B83333948 |
|
4 |
10307633 |
22/03/2014 * |
120,000,000.00 |
Indian Overseas
Bank |
Indian Overseas
Bank, 30 & 32, Tamarind Lane, Fort, Mumbai, Maharashtra - 400023, India |
C03086642 |
*Date of modification Charges
FIXED ASSETS:
·
Land
·
Building
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Plant and Machinery
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Computer
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Vehicles
·
Furniture and Fixture
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.61.76 |
|
|
1 |
Rs.93.13 |
|
Euro |
1 |
Rs.70.03 |
INFORMATION DETAILS
|
Information
Gathered by : |
PRT |
|
|
|
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
VNT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILITY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
|
33 |
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.