MIRA INFORM REPORT

 

 

Report No. :

306702

Report Date :

11.02.2015

 

IDENTIFICATION DETAILS

 

Name :

POSITRONICS PRIVATE LIMITED

 

 

Registered Office :

“Positronics House”, 882/2, GIDC, Makarpura, Vadodara – 390010, Gujarat

 

 

Country :

India

 

 

Financials (as on) :

31.03.2014

 

 

Date of Incorporation :

29.11.1979

 

 

Com. Reg. No.:

04-003569

 

 

Capital Investment / Paid-up Capital :

Rs.4.650 Millions

 

 

CIN No.:

[Company Identification No.]

U32201GJ1979PTC003569

 

 

IEC No.:

Not Available

 

 

TIN No.:

24190201839

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

Not Available

 

 

PAN No.:

[Permanent Account No.]

AACCP7866N

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Manufacturers of Electronic control panels.

 

 

No. of Employees :

84 (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

 

Status :

Satisfactory

 

 

Payment Behaviour :

Slow but correct

 

 

Litigation :

Clear

 

 

Comments :

Subject is an established company having satisfactory track record.

 

The company has reported drop in its revenue and reported loss for the year 2013-14.

 

However, the company seems to be in decent position.

 

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

 

The company can be considered for business dealings with usual business 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 – December 31, 2014

 

Country Name

Previous Rating

(30.09.2014)

Current Rating

(31.12.2014)

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

CARE

Rating

Long term bank facilities = BBB-

Rating Explanation

Moderate degree of safety, moderate credit risk.

Date

December, 2013

 

Rating Agency Name

CARE

Rating

Short term bank facilities = A3+

Rating Explanation

Moderate degree of safety and higher credit risk.

Date

December, 2013

 

 

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 PARTED BY

 

Name :

Mrs. Netra

Designation :

Account Department

Contact No.:

91-265-2226160

Date :

05.02.2014

 

 

 

 

LOCATIONS

 

Registered Office :

882/2, GIDC, Makarpura, Vadodara – 390010, Gujarat, India

Tel. No.:

91-265-2226160 / 2642496

Fax No.:

91-265-2647033 / 2642496

E-Mail :

info@positronicsindia.com

Website :

www.positronicsindia.com

Location :

Owned

 

 

Works (Unit I) :

223, G.I.D.C., Ramangamdi, POR District Vadodara - 391243, Gujarat, India

 

 

Works (Unit II) :

111, G.I.D.C., Ramangamdi, POR District Vadodara - 391243, Gujarat, India

 

 

Factory :

272/292, G.I.D.C. Industrial Estate, Por – Ramangamdi, District Vadodara – 391243, Gujarat, India

 

 

DIRECTORS

 

As on 01.09.2014

 

Name :

Mr. Anil Jaywant Bordvekar

Designation :

Whole-time Director

Address :

16, Gauttam Nagar, Race Course Baroda – 390007, Gujarat, India

Date of Birth/Age :

24.12.1949

Date of Appointment :

20.12.1979

DIN No.:

00236103

Other Directorship :

S.No.

CIN/LLPIN

Name of the Company/ LLP

Current designation of the Director/ Designated Partner

Date of appointment at current designation

Original date of appointment

Date of cessation

Company/ LLP Status

Defaulting status

1

U32201GJ1979PTC003569

POSITRONICS PRIVATE LIMITED

Whole-time director

20/12/1979

20/12/1979

-

Active

NO

2

U33121GJ1991PTC016231

POSITRONICS CONTROL SYSTEMS PRIVATE LIMITED

Whole-time director

09/09/1991

09/09/1991

-

Active

NO

 

 

Name :

Pratima Jaywant Bordvekar

Designation :

Whole-time Director

Address :

16, Gauttam Nagar, Race Course Baroda – 390007, Gujarat, India

Date of Birth/Age :

17.12.1957

Date of Appointment :

29.11.1979

DIN No.:

00236131

Other Directorship :

S. No.

CIN/LLPIN

Name of the Company/ LLP

Current designation of the Director/ Designated Partner

Date of appointment at current designation

Original date of appointment

Date of cessation

Company/ LLP Status

Defaulting status

1

U32201GJ1979PTC003569

POSITRONICS PRIVATE LIMITED

Whole-time director

29/11/1979

29/11/1979

-

Active

NO

2

U33121GJ1991PTC016231

POSITRONICS CONTROL SYSTEMS PRIVATE LIMITED

Director

09/09/1991

09/09/1991

-

Active

NO

 

 

Name :

Mr. Siddharth Anil Bordvekar

Designation :

Whole-time Director

Address :

16, Gauttam Nagar, Race Course Baroda – 390007, Gujarat, India

Date of Birth/Age :

23.11.1981

Date of Appointment :

30.09.2010

DIN No.:

00914057

Other Directorship :

S. No.

CIN/LLPIN

Name of the Company/ LLP

Current designation of the Director/ Designated Partner

Date of appointment at current designation

Original date of appointment

Date of cessation

Company/ LLP Status

Defaulting status

1

U33121GJ1991PTC016231

POSITRONICS CONTROL SYSTEMS PRIVATE LIMITED

Whole-time director

15/07/2005

15/07/2005

-

Active

NO

2

U32201GJ1979PTC003569

POSITRONICS PRIVATE LIMITED

Whole-time director

30/09/2010

01/09/2007

-

Active

NO

 

 

Name :

Mr. Vilas Moreshwar Pradhan

Designation :

Director

Address :

71, Samasta Brahmaskashriya Society Paldi, Ahmedabad, Gujarat, India

Date of Birth/Age :

13.07.1947

Date of Appointment :

20.12.1979

DIN No.:

00236051

Other Directorship :

S. No.

CIN/LLPIN

Name of the Company/ LLP

Current designation of the Director/ Designated Partner

Date of appointment at current designation

Original date of appointment

Date of cessation

Company/ LLP Status

Defaulting status

1

U32201GJ1979PTC003569

POSITRONICS PRIVATE LIMITED

Whole-time director

20/12/1979

20/12/1979

-

Active

NO

2

U33121GJ1991PTC016231

POSITRONICS CONTROL SYSTEMS PRIVATE LIMITED

Whole-time director

09/09/1991

09/09/1991

-

Active

NO

 

 

KEY EXECUTIVES

 

Name :

Mrs. Netra

Designation :

Account Department

 

 

MAJOR SHAREHOLDERS

 

As on 01.09.2014

 

Names of Shareholders

No. of Shares

Pratima Anil Bordvekar

9159

Moreshwar Atmaram Pradhan

5045

Anil Jaywant Bordvekar

314940

Vilas Moreshwar Pradhan

4956

Anil Jaywant Bordvekar (HUF)

3600

Siddharth Anil Bordvekar

2100

Vilas Moreshwar Pradhan

100

Anand Vilas Pradhan

100

Positronics Control Systems Private Limited

125000

Total

465000

 

As on 01.09.2014

 

Equity Share Break up (Percentage of Total Equity)

 

Category

Percentage of Holding

Bodies corporate

26.88

Directors or relatives of Directors

73.12

Total

100.00

 

 

 

BUSINESS DETAILS

 

Line of Business :

Manufacturers of Electronic control panels.

 

 

Products :

 

 

Brand Names :

Not Available

 

 

Agencies Held :

Not Available

 

 

Exports :

 

Products :

Finished Goods

Countries :

Netherland

 

 

Imports :

 

Products :

Raw Material

Countries :
  • China
  • UK

 

 

Terms :

 

Selling :

Cash and Credit

 

 

Purchasing :

Cash and Credit

 

PRODUCTION STATUS = NOT AVAILABLE

 

 

GENERAL INFORMATION

 

Suppliers :

Reference :

Urja Shakti Sales and Service, Vadodara, Gujarat, India

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Experience :

Not Divulged

Maximum Limit Dealt :

Not Divulged

 

 

Customers :

Reference :

Bharat Heavy Electricals Limited, Bangalore, Karnataka, India

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Experience :

Not Divulged

Maximum Limit Dealt :

Not Divulged

 

 

No. of Employees :

84 (Approximately)

 

 

Bankers :

Banker Name

Bank of Baroda

Branch Address

Khandaerao Nakit Branch, Vadodara, Gujarat, India

Person Name (With Designation)

Not Divulged

Contact Number

Not Divulged

Name of Account Holder

Not Divulged

Account Number

Not Divulged

Account Since (Date/Year of Account Opening)

Not Divulged

Average Balance Maintained (If Possible)

Not Divulged

Credit Facilities Enjoyed (If any)

Not Divulged

Account Operation

Not Divulged

Remarks (If any)

Not Divulged

 

 

Facilities :

SECURED LOANS

31.03.2014

(Rs. in Millions)

31.03.2013

(Rs. in Millions)

LONG TERM BORROWINGS

 

 

Term Loan

 

 

From Banks

 

 

Bank of Baroda

0.600

1.605

ICICI Bank Limited – Ford Car Loan

0.268

0.655

SHORT TERM BORROWINGS

 

 

Working Capital Loans

 

 

Bank of Baroda (Overdraft)

1.895

2.331

Bank of Baroda (CC A/C)

16.780

31.809

Total

19.543

36.400

 

 

 

Auditors :

 

Name :

S.A. Patel and Company

Chartered Accountants

Address :

422, Paradise Complex, Sayajigunj, Vadodara – 390005, Gujarat, India

Tel. No.:

91-265-2362318 / 2363144

E-Mail :

casapate189@gmail.com

PAN No.:

ADFPP1273N

 

 

Memberships :

Not Available

 

 

Collaborators :

Not Available

 

 

Enterprise in which KMP/ Relatives of KMP can exercise significant influence :
  • Positronics Control Systems Private Limtied
  • Power Electronics and Control

 

 

CAPITAL STRUCTURE

 

As on 31.03.2014

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

1250000

Equity Shares

Rs.10/-each

Rs.12.500 Millions

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

465000

Equity Shares

Rs.10/-each

Rs.4.650 Millions

 

 

 [all figures are in Rupees Millions]

 

ABRIDGED BALANCE SHEET

 

SOURCES OF FUNDS

31.03.2014

31.03.2013

31.03.2012

 

 

 

 

I.              EQUITY AND LIABILITIES

 

 

 

(1)Shareholders' Funds

 

 

 

(a) Share Capital

4.650

4.650

4.650

(b) Reserves & Surplus

98.602

101.091

94.610

(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)

103.252

105.741

99.260

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

0.868

2.260

3.451

(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

0.000

0.000

0.000

Total Non-current Liabilities (3)

0.868

2.260

3.451

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

18.675

34.140

37.616

(b) Trade payables

44.741

57.341

69.467

(c) Other current liabilities

6.892

16.989

3.968

(d) Short-term provisions

0.553

0.953

0.893

Total Current Liabilities (4)

70.861

109.423

111.944

 

 

 

 

TOTAL

174.981

217.424

214.655

 

 

 

 

II.          ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

28.103

30.938

33.026

(ii) Intangible Assets

0.872

1.191

0.114

(iii) Capital work-in-progress

0.450

0.387

0.000

(iv) Intangible assets under development

0.000

0.000

0.000

(b) Non-current Investments

1.300

1.660

2.450

(c) Deferred tax assets (net)

1.211

0.137

0.037

(d)  Long-term Loan and Advances

0.200

0.170

0.016

(e) Other Non-current assets

2.787

43.779

39.516

Total Non-Current Assets

34.923

78.262

75.159

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

37.119

51.025

48.438

(c) Trade receivables

29.086

48.315

66.097

(d) Cash and cash equivalents

69.116

36.196

20.716

(e) Short-term loans and advances

4.595

3.394

2.847

(f) Other current assets

0.142

0.232

1.398

Total Current Assets

140.058

139.162

139.496

 

 

 

 

TOTAL

174.981

217.424

214.655

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

31.03.2014

31.03.2013

31.03.2012

 

SALES

 

 

 

 

Income

176.416

270.471

219.293

 

Other Income

7.228

7.514

5.649

 

TOTAL (A)

183.644

277.985

224.942

 

 

 

 

 

Less

EXPENSES

 

 

 

 

Cost of Materials Consumed

119.876

210.400

154.988

 

Purchases of Stock-in-Trade

0.000

0.000

0.000

 

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

9.938

(12.225)

(0.569)

 

Employees benefits expense

24.327

24.573

22.048

 

Other expenses

25.334

35.813

29.939

 

TOTAL (B)

179.475

258.561

206.406

 

 

 

 

 

Less

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

4.169

19.424

18.536

 

 

 

 

 

Less

FINANCIAL EXPENSES

2.512

4.554

4.351

 

 

 

 

 

 

PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION

1.657

14.870

14.185

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION

5.219

5.475

5.837

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE TAX

(3.562)

9.395

8.348

 

 

 

 

 

Less

TAX

(1.073)

2.914

0.445

 

 

 

 

 

 

PROFIT/ (LOSS)  AFTER TAX 

(2.489)

6.481

7.903

 

 

 

 

 

 

Earnings / (Loss) Per Share (Rs.)

(5.35)

13.94

17.00

 

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2014

31.03.2013

31.03.2012

 

 

 

 

 

Net Profit Margin

PAT / Sales

(%)
(1.41)

2.39

3.60

 

 
 

 

 

Operating Profit Margin

(PBDIT/Sales)

(%)
2.36

7.18

8.45

 

 
 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)

(2.07)

4.36

3.93

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

(0.03)

0.09

0.08

 

 

 

 

 

Debt Equity Ratio

(Total Debts/Networth)

 

0.19

0.34

0.41

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

1.98

1.27

1.25

 

 

FINANCIAL ANALYSIS

[all figures are in Rupees Millions]

 

DEBT EQUITY RATIO

 

Particular

31.03.2012

31.03.2013

31.03.2014

 

(Rs. In Millions)

(Rs. In Millions)

(Rs. In Millions)

Share Capital

4.650

4.650

4.650

Reserves & Surplus

94.610

101.091

98.602

Net worth

99.260

105.741

103.252

 

 

 

 

long-term borrowings

3.451

2.260

0.868

Short term borrowings

37.616

34.140

18.675

Total borrowings

41.067

36.400

19.543

Debt/Equity ratio

0.414

0.344

0.189

 

 

 

YEAR-ON-YEAR GROWTH

 

Year on Year Growth

31.03.2012

31.03.2013

31.03.2014

 

(Rs. In Millions)

(Rs. In Millions)

(Rs. In Millions)

Sales

219.293

270.471

176.416

 

 

23.338

(34.775)

 

 

 

 

 

NET PROFIT MARGIN

 

Net Profit Margin

31.03.2012

31.03.2013

31.03.2014

 

(Rs. In Millions)

(Rs. In Millions)

(Rs. In Millions)

Sales

219.293

270.471

176.416

Profit

7.903

6.481

(2.489)

 

3.60%

2.40%

(1.41%)

 

 

 

LOCAL AGENCY FURTHER INFORMATION

 

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

Yes

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

Yes

18]

Major customers

Yes

19]

Payments terms

Yes

20]

Export / Import details (if applicable)

Yes

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

Yes

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

 

 

INDEX OF CHARGES

 

S.No.

Charge ID

Date of Charge Creation/Modification

Charge amount secured

Charge Holder

Address

Service Request Number (SRN)

1

10164405

29/12/2010 *

99,500,000.00

BANK OF BARODA

KHANDAERAO MARKET BRANCH, RAJMAHAL ROAD, VADODARA , Gujarat - 390001, INDIA

B06627939

2

10160619

19/05/2009

670,000.00

AXIS BANK LIMITED

2ND FLOOR, VARDHAMAN COMPLEX,, BESIDES PIZZA HUT, RACE COURSE, VADODARA, Gujarat - 390007, INDIA

A63520704

3

10072449

29/09/2007

600,000.00

CENTURION BANK OF PUNJAB LIMITED

5TH FLOOR, NATIONAL PLAZA, R. C. DUTT ROAD, BARODA, Gujarat - 390005, INDIA

A25563826

 

 

FIXED ASSETS

 

  • Land
  • Building
  • Plant and Equipment
  • Furniture and Fixtures
  • Vehicles – Car
  • Vehicles – Others
  • Office Equipments
  • Computers
  • Electrical Installation
  • Bus
  • Tempo

CMT REPORT (Corruption, Money Laundering & Terrorism]

 

The Public Notice information has been collected from various sources including but not limited to: The Courts, India Prisons Service, Interpol, etc.

 

1]         INFORMATION ON DESIGNATED PARTY

No exist designating subject or any of its beneficial owners, controlling shareholders or senior officers as terrorist or terrorist organization or whom notice had been received that all financial transactions involving their assets have been blocked or convicted, found guilty or against whom a judgement or order had been entered in a proceedings for violating money-laundering, anti-corruption or bribery or international economic or anti-terrorism sanction laws or whose assets were seized, blocked, frozen or ordered forfeited for violation of money laundering or international anti-terrorism laws.

 

2]         Court Declaration :

No exist to suggest that subject is or was the subject of any formal or informal allegations, prosecutions or other official proceeding for making any prohibited payments or other improper payments to government officials for engaging in prohibited transactions or with designated parties.

 

3]         Asset Declaration :

No 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.61.96

UK Pound

1

Rs.94.41

Euro

1

Rs.70.20

 

 

INFORMATION DETAILS

 

Information Gathered by :

GAY

 

 

Analysis Done by :

SUC

 

 

Report Prepared by :

PNM

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

6

PAID-UP CAPITAL

1~10

4

OPERATING SCALE

1~10

6

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

5

--PROFITABILITY

1~10

3

--LIQUIDITY

1~10

5

--LEVERAGE

1~10

4

--RESERVES

1~10

4

--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

YES

--AFFILIATION

YES/NO

YES

--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.