MIRA INFORM REPORT
|
Report No. : |
309101 |
|
Report Date : |
21.02.2015 |
IDENTIFICATION DETAILS
|
Name : |
MAXTONE ELECTRONICS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Unit No. 414, Creative Industrial Estate, N. M. Joshi Marg, Lower
Parel, Mumbai – 400 011, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
23.06.1994 |
|
|
|
|
Com. Reg. No.: |
11-079143 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 30.705 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U32109MH1994PTC079143 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMM20951A |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCM5324K |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturing and Importer of Computer Hardware, Electronic Items,
Telecommunication, Electric Equipments, Computer, Peripherals, Plotters,
Mechanical Instruments, Visual Display, etc. |
|
|
|
|
No. of Employees
: |
100 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (28) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having moderate track record. The rating is constrained on account of continuous dip in the turnover
and profit of the company, profit margin of the company is also low. However, trade relations are reported as fair. Business is active.
Payments terms are reported to be slow but correct. 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
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
31-03-2014.
INFORMATION PARTED BY (GENERAL DETAILS)
|
Name : |
Mr. Krishna |
|
Designation : |
Accountant |
|
Contact No.: |
91-22-40333000 |
|
Date : |
20.02.2015 |
LOCATIONS
|
Registered Office / Godown / Corporate Office : |
Unit No. 414, Creative Industrial Estate, N. M. Joshi Marg, Lower
Parel, Mumbai – 400011, Maharashtra, India |
|
Tel. No.: |
91-22-40333000/ 23091664/ 23011434/ 23050202/ 23011919/ 23016468 |
|
Mob. No.: |
91-9821012801 (Mr. Champakraj J. Gurjar) |
|
Fax No.: |
91-22-23011818/ 3001370 |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
|
|
|
|
Factory : |
26, Shri Balaji Nagar, Near Bala Masjid, N. M. Joshi Marg, Lower Parel
(East), Mumbai, Maharashtra, India |
|
|
|
|
Branch Offices : |
Located at: · Pune · Ahmedabad · Cochin · Kolkata · Raipur · Bangalore · Indore · Nagpur |
DIRECTORS
As on 30.09.2014
|
Name : |
Mr. Champakraj Juharmal Gurjar |
|
Designation : |
Director |
|
Address : |
220, Shivaji Nagar, N. M. Joshi Marg, Mumbai – 400013, Maharashtra, India |
|
Date of Birth/Age : |
23.04.1956 |
|
Qualification : |
Graduate |
|
Date of Appointment : |
23.06.1994 |
|
PAN No.: |
ADBPG1710D |
|
DIN No.: |
01712070 |
|
|
|
|
Name : |
Mr. Kantilal J. Gurjar |
|
Designation : |
Director |
|
Address : |
121, Shivaji Nagar, N. M. Joshi Marg, Mumbai – 400013, Maharashtra, India |
|
Date of Birth/Age : |
17.08.1952 |
|
Qualification : |
Matriculate |
|
Date of Appointment : |
23.06.1994 |
|
PAN No.: |
AASPG4439K |
|
DIN No.: |
00097883 |
KEY EXECUTIVES
|
Name : |
Mr. Krishna |
|
Designation : |
Accountant |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2014
|
Names of Shareholders |
No. of Shares |
Percentage of
Holding |
|
Champakraj Juharmal Gurjar |
286668 |
93.36 |
|
Kantilal J. Gurjar |
2712 |
0.88 |
|
Panibai J. Gurjar |
2400 |
0.78 |
|
Manjula K. Gurjar |
1140 |
0.37 |
|
Indira C. Gurjar |
2160 |
0.70 |
|
Aruna S. Gurjar |
2160 |
0.70 |
|
Subhash J. Gurjar |
3852 |
1.25 |
|
Pradeep Shetty |
5960 |
1.94 |
|
Total |
307052 |
100.00 |
As on 30.09.2014
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing and Importer of Computer Hardware, Electronic Items,
Telecommunication, Electric Equipments, Computer, Peripherals, Plotters,
Mechanical Instruments, Visual Display, etc. |
|
|
|
|
Products/ Services : |
· Computer Hardware · Electronic Items · Telecommunication · Electric Equipments · Computer · Peripherals · Plotters · Mechanical Instruments · Visual Display |
|
|
|
|
Brand Names : |
|
|
|
|
|
Agencies Held : |
|
|
|
|
|
Exports : |
-- |
|
|
|
|
Imports : |
|
|
Products : |
Raw Material |
|
Countries : |
· China · Taiwan |
|
|
|
|
Terms : |
|
|
Selling : |
Cash and Credit |
|
|
|
|
Purchasing : |
Cash and Credit |
PRODUCTION STATUS
|
Particulars |
Unit |
Licensed
Capacity |
Installed
Capacity |
Actual
Production |
|
|
|
|
|
|
|
|
|
|
|
|
GENERAL INFORMATION
|
Suppliers : |
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Customers : |
Wholesalers, Retailers and Manufacturer
·
Standard Chartered Bank, SME Credit, 23-25, M
G Road, Fort, Mumbai - 400001,
Maharashtra, India ·
ING Vysya Bank Limited, Unit No 2/3/4,
Marathon Max Building, Mulund Goregoan Link Road, Mulund (West), Mumbai -
400080, Maharashtra, India |
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
No. of Employees : |
100 (Approximately) |
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Bankers : |
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Facilities : |
|
||||||||||||||||||||||
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
P. Raj and Company Chartered Accountants |
|
Address : |
3/1218, Navjivan Commercial Premises Cooperative Society, Lamington Road, Mumbai – 400008, Maharashtra, India |
|
Income-tax
PAN of auditor or auditor's firm : |
ANCPS2268R |
|
|
|
|
Memberships : |
-- |
|
|
|
|
Collaborators : |
-- |
|
|
|
|
Associates/Subsidiaries : |
-- |
CAPITAL STRUCTURE
As on 30.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
500,000 |
Equity Shares |
Rs.100/- each |
Rs. 50.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
307,052 |
Equity Shares |
Rs.100/- each |
Rs. 30.705
Millions |
FINANCIAL DATA
[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 |
30.705 |
30.705 |
30.705 |
|
(b) Reserves & Surplus |
53.876 |
50.665 |
44.414 |
|
(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) |
84.581 |
81.370 |
75.119 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
94.396 |
37.144 |
37.849 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
(4.671) |
|
(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) |
94.396 |
37.144 |
33.178 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
85.807 |
135.067 |
114.116 |
|
(b) Trade
payables |
132.640 |
186.659 |
268.160 |
|
(c) Other current
liabilities |
22.907 |
11.696 |
14.152 |
|
(d) Short-term
provisions |
1.576 |
2.478 |
1.760 |
|
Total Current
Liabilities (4) |
242.930 |
335.900 |
398.188 |
|
|
|
|
|
|
TOTAL |
421.907 |
454.414 |
506.485 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
31.142 |
32.494 |
33.621 |
|
(ii)
Intangible Assets |
0.145 |
0.239 |
0.333 |
|
(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 |
116.837 |
59.659 |
55.678 |
|
(c) Deferred tax assets (net) |
5.945 |
5.255 |
0.000 |
|
(d) Long-term Loan and Advances |
0.000 |
0.000 |
0.000 |
|
(e) Other Non-current
assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
154.069 |
97.647 |
89.632 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
134.623 |
168.225 |
158.928 |
|
(c) Trade
receivables |
95.286 |
150.171 |
214.996 |
|
(d) Cash
and cash equivalents |
3.806 |
6.860 |
7.726 |
|
(e)
Short-term loans and advances |
34.123 |
31.511 |
35.203 |
|
(f) Other
current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
267.838 |
356.767 |
416.853 |
|
|
|
|
|
|
TOTAL |
421.907 |
454.414 |
506.485 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
748.100 |
1522.700 |
1817.100 |
|
|
|
Other Income |
NA |
NA |
NA |
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
Less |
TAX |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
3.570 |
6.970 |
11.609 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
11.63 |
22.70 |
37.81 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT/Sales) |
(%) |
0.48 |
0.46 |
0.64 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
2.13 |
2.12 |
2.02 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.10 |
1.06 |
1.05 |
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 |
30.705 |
30.705 |
30.705 |
|
Reserves & Surplus |
44.414 |
50.665 |
53.876 |
|
Net
worth |
75.119 |
81.370 |
84.581 |
|
|
|
|
|
|
long-term borrowings |
37.849 |
37.144 |
94.396 |
|
Short term borrowings |
114.116 |
135.067 |
85.807 |
|
Total
borrowings |
151.965 |
172.211 |
180.203 |
|
Debt/Equity
ratio |
2.023 |
2.116 |
2.131 |
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 |
1817.100 |
1522.700 |
748.100 |
|
|
|
-16.202 |
-50.870 |
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 |
1817.100 |
1522.700 |
748.100 |
|
Profit |
11.609 |
6.970 |
3.570 |
|
|
0.64% |
0.46% |
0.48% |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES
OF LONG TERM DEBTS
|
Particulars |
31.03.2014 (Rs.
In Millions) |
31.03.2013 (Rs.
In Millions) |
31.03.2012 (Rs.
In Millions) |
|
|
|
|
|
|
Current Maturities of Long Term Debts |
19.281 |
4.779 |
4.783 |
|
|
|
|
|
|
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 |
No |
|
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 |
Yes |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
No |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
10488923 |
29/03/2014 |
33,180,000.00 |
DEUTSCHE BANK AG |
DEUTSCHE BANK AG, GOREGAON (EAST), MUMBAI, MAHARASHTRA - 400063, INDIA |
C02771244 |
|
2 |
10314285 |
18/01/2013 * |
45,000,000.00 |
YES BANK LIMITED |
9TH FLOOR, NEHRU
CENTRE, DISCOVERY OF INDIA, DR. |
B66982588 |
|
3 |
10312650 |
14/01/2013 * |
45,000,000.00 |
YES BANK LIMITED |
9TH FLOOR, NEHRU
CENTRE, DISCOVERY OF INDIA, DR. |
B66355066 |
|
4 |
10305170 |
19/12/2011 * |
20,000,000.00 |
TATA CAPITAL LIMITED |
ONE FORBES, DR V B
GANDHI MARG, FORT, MUMBAI, MAHA |
B28438414 |
|
5 |
10231254 |
06/08/2010 * |
119,500,000.00 |
STANDARD CHARTERED BANK |
SME CREDIT, 23-25,
M G ROAD, FORT, MUMBAI, MAHA |
A91560706 |
|
6 |
90158414 |
28/06/2004 |
1,000,000.00 |
BANK OF PUNJAB LTD |
FORT BRANCH, MUMBAI, MAHARASHTRA, INDIA |
- |
|
7 |
90156557 |
04/04/1997 |
190,000.00 |
MASHREQ BANK |
512; TULSIANI CHAMBERS, NAIRMAN POINT, MUMBAI, MAHARASHTRA - 400021, INDIA |
- |
* Date of charge modification
UNSECURED LOANS
|
PARTICULAR |
31.03.2014 (Rs.
In Millions) |
31.03.2013 (Rs.
In Millions) |
|
SHORT TERM
BORROWINGS |
|
|
|
Rupee term loans from others |
11.105 |
15.487 |
|
Total |
11.105 |
15.487 |
FINANCIAL RESULTS
The turnover of the company was much lower at Rs. 748.100 Millions in the current year as against Rs. 1522.700 Millions in the corresponding previous year and accordingly the Net Profit after tax has gone down sharpely at Rs.3.570 Millions as compared to Rs. 6.970 Millions in the previous year.
FIXED ASSETS
Tangible Assets
· Buildings
· Furniture and Fixtures
· Vehicles
· Office Equipment
Intangible Assets
· Computer Software
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 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.62.26 |
|
|
1 |
Rs.96.01 |
|
Euro |
1 |
Rs.70.72 |
INFORMATION DETAILS
|
Information Gathered
by : |
DIP |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
MRI |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILITY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
28 |
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.