MIRA INFORM REPORT
|
Report No. : |
308793 |
|
Report Date : |
26.02.2015 |
IDENTIFICATION DETAILS
|
Name : |
PL AGRO TECHNOLOGIES LIMITED |
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|
|
|
Registered
Office : |
146, Kilavalam Village, Kancheepuram – 603303,Tamiladu |
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Country : |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
09.04.1992 |
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Com. Reg. No.: |
18-022470 |
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Capital
Investment / Paid-up Capital : |
Rs.31.568 Million |
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CIN No.: [Company Identification
No.] |
U01119TN1992PLC022470 |
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|
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TAN No.: [Tax Deduction &
Collection Account No.] |
CHEP00909G |
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PAN No.: [Permanent Account No.] |
AAACP4388D |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Manufacture and sale of agro based fertilizers and products |
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No. of Employees
: |
Not Divulged |
RATING & COMMENTS
|
MIRA’s Rating : |
B (29) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
USD 190000 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate track record. The company has reported continuous loss from its business operations. However, trade relations are reported as fair. Business is active.
Payments 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.
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 |
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Restricted |
C2 |
|
Off-credit |
D |
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 DENIED
Management Non Co-operative (91-4254-228033)
LOCATIONS
|
Registered Office : |
146, Kilavalam Village, Kancheepuram – 603303,Tamiladu, India |
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Tel. No.: |
91-4254-228033 |
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Fax No.: |
Not Available |
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E-Mail : |
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Website : |
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Corporate Office : |
No. 5, Lady Madhavan Road, Mahalingapuram, Chennai – 600034, Tamilnadu, India |
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Tel. No.: |
91-44-2817 2071/72 |
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Fax No.: |
91-44-28172073 |
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Organic & Bio
Fertiliser Division : |
PL Agro Technologies Ltd. Salaivembu, Hospital Road, Medur Post – 641104, Tamilnadu, India |
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Tel. No.: |
91-4254-228033 |
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Regional Office : |
No.398, EVR Periyar High Road, Kilpauk, Chennai – 600010, Tamilnadu, India |
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Tel. No.: |
91-44-26427377 / 26413299 |
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Coimbatore Regional
Office : |
158 Akaramadai Road, Mettupalayam Kemmarampalayam, Coimbatur – 641301, Tamilnadu, India |
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Tel. No.: |
91-4254-284733 |
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Madurai Regional
Office : |
10/10, Quarry Road, Thirupparankundram, Madurai – 625005, Tamilnadu, India |
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Tel. No.: |
91-452-2482054 / 2483054 |
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E-Mail : |
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Salem Regional
Office : |
849, Block No.6,Uthirappankadu, Maniyanur Post, Salem – 636010, Tamilnadu, India |
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Tel. No.: |
91-427-2001282 |
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E-Mail : |
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Kerala Regional
Office : |
35/118,
Omanalayam Palarivatom, Cochin – 682025, Kerala, India |
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Tel. No.: |
91-484-2347065 / 2349022 |
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E-Mail : |
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Karnataka Regional
Office : |
83/84, Raita Sangha Compound, P.B. Road, Davanagare - 577002, Karnataka, India |
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Tel. No.: |
91-8192-230351 |
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E-Mail : |
DIRECTORS
AS ON 26.09.2014
|
Name : |
Mr. Ambalaparambil Sankar |
|
Designation : |
Managing Director |
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Address : |
TF 13, Manasarovar Apartments,, Khader Nawaz Khan Road, Nungambakkam, Chennai
- 600006, Tamilnadu, India |
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Date of Birth/Age : |
05.12.1951 |
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Date of Appointment : |
23.06.1999 |
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DIN No.: |
00502494 |
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Name : |
Mr. Sudhakar Vappalakalathil |
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Designation : |
Director |
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Address : |
L4, Alsa Crescent, Alsa Garden,, 72, Harrington Road,, Chennai,
600031, Tamilnadu, India |
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Date of Birth/Age : |
04.11.1953 |
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Date of Appointment : |
21.06.2005 |
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DIN No.: |
00015205 |
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Name : |
Mr. Madasseri Ramakrishnan |
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Designation : |
Director |
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Address : |
71, Central Street, Kilpauk Garden Colony, Chennai - 600010,
Tamilnadu, India |
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Date of Birth/Age : |
12.02.1952 |
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Date of Appointment : |
22.02.2002 |
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DIN No.: |
00431871 |
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Name : |
Mr. Robert Raja Balakrishnan |
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Designation : |
Director |
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Address : |
203, Akshaya Apartments, 48, Pachiyappa College, Hostel Road, Chetpet,
Chennai - 600031, Tamilnadu, India |
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Date of Birth/Age : |
03.03.1955 |
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Date of Appointment : |
03.09.2012 |
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DIN No.: |
00754202 |
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Name : |
Mr. Venugopal Vappalakalathil |
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Designation : |
Director |
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Address : |
Aswathi, 71, New No. 12/1, Central Street, Kilpauk Garden Colony,
Chennai - 600010, Tamilnadu, India |
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Date of Birth/Age : |
26.03.1945 |
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Date of Appointment : |
18.04.2007 |
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DIN No.: |
01548807 |
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Name : |
Mr. Prakash Rishinarathamangalam Narasimhan |
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Designation : |
Director |
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Address : |
13/6 United Flats, Iind Floor, Lake View Road Extn, West Mambalam,
Chennai - 600033, Tamilnadu, India |
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Date of Birth/Age : |
29.05.1967 |
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Date of Appointment : |
27.05.2010 |
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DIN No.: |
03112784 |
MAJOR SHAREHOLDERS
AS ON 26.09.2014
|
Names of Shareholders |
No. of Shares |
|
Chitra Umasanakar |
30 |
|
Peirce Leslie India Limited |
1616052 |
|
R. Ramesh |
30 |
|
E. Jayaraj |
60 |
|
A. Sankar |
631364 |
|
New Bridge Capital Private Limited |
909164 |
|
Asha Narayan |
30 |
|
V. Sudhakar |
90 |
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|
|
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Total |
3156820 |
Equity Share Break up (Percentage of Total Equity)
AS ON 26.09.2014
|
Category |
Percentage |
|
Bodies corporate |
79.99 |
|
Directors or relatives of Directors |
20.01 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacture and sale of agro based fertilizers and products |
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Products : |
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Brand Names : |
Not Divulged |
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Agencies Held : |
Not Divulged |
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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 : |
Not Divulged |
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Bankers : |
Bank of India, Housing Finance and Personal Banking Branch, 1st Floor, Dewaki Castle, Kaloor, Ernakulam, Kochi – 682017, Kerala, India |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Jagannathan and Sarabeswaran Chartered Accountants |
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Address : |
Old No.35, New No.7 I Floor Luz Avenue Mylapore, Chennai – 600004, Tamilnadu, India |
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PAN No.: |
AABFJ6143N |
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Membership : |
-- |
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Holding Company : |
Peirce Leslie India Limited |
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Associates : |
Peirce Leslie Agencies Limited |
CAPITAL STRUCTURE
AS ON 26.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
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|
5000000 |
Equity Shares |
Rs.10/- each |
Rs.50.000 Million |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
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|
3156820 |
Equity Shares |
Rs.10/- each |
Rs.31.568 Million |
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FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
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(a) Share Capital |
31.568 |
31.568 |
31.568 |
|
(b) Reserves & Surplus |
33.384 |
33.025 |
46.701 |
|
(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) |
64.952 |
64.593 |
78.269 |
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(3)
Non-Current Liabilities |
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(a) long-term borrowings |
0.663 |
1.426 |
1.444 |
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(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) |
0.663 |
1.426 |
1.444 |
|
|
|
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(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
0.911 |
4.994 |
3.047 |
|
(b) Trade
payables |
23.917 |
25.032 |
28.280 |
|
(c) Other current
liabilities |
7.725 |
11.390 |
9.731 |
|
(d) Short-term
provisions |
1.303 |
1.005 |
0.808 |
|
Total Current
Liabilities (4) |
33.856 |
42.421 |
41.866 |
|
|
|
|
|
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TOTAL |
99.471 |
108.440 |
121.579 |
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II.
ASSETS |
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|
(1)
Non-current assets |
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|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
15.838 |
18.020 |
18.865 |
|
(ii)
Intangible Assets |
0.133 |
0.154 |
0.179 |
|
(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 |
0.070 |
0.070 |
0.070 |
|
(c) Deferred tax assets (net) |
2.527 |
2.527 |
2.447 |
|
(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 |
18.568 |
20.771 |
21.561 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
5.000 |
0.000 |
0.000 |
|
(b)
Inventories |
32.271 |
39.494 |
48.649 |
|
(c) Trade
receivables |
21.805 |
18.829 |
27.664 |
|
(d) Cash
and cash equivalents |
16.439 |
23.084 |
17.940 |
|
(e)
Short-term loans and advances |
5.318 |
5.989 |
5.554 |
|
(f) Other
current assets |
0.070 |
0.273 |
0.211 |
|
Total
Current Assets |
80.903 |
87.669 |
100.018 |
|
|
|
|
|
|
TOTAL |
99.471 |
108.440 |
121.579 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
204.561 |
214.023 |
274.391 |
|
|
|
Other Income |
3.939 |
4.279 |
3.852 |
|
|
|
TOTAL (A) |
208.500 |
218.302 |
278.243 |
|
|
|
|
|
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|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
133.672 |
131.771 |
156.476 |
|
|
|
Employee Benefits Expenses |
24.982 |
32.491 |
36.574 |
|
|
|
Other Expenses |
47.855 |
61.222 |
76.138 |
|
|
|
Prior Period Items |
0.065 |
0.110 |
0.000 |
|
|
|
Extraordinary Items |
(1.586) |
2.500 |
0.000 |
|
|
|
TOTAL (B) |
204.988 |
228.094 |
269.188 |
|
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|
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|
PROFIT/(LOSS)
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
3.512 |
(9.792 |
9.055 |
|
|
|
|
|
|
|
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|
Less |
FINANCIAL
EXPENSES (D) |
0.841 |
1.346 |
0.947 |
|
|
|
|
|
|
|
|
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|
PROFIT/(LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D)
(E) |
2.671 |
(11.138) |
8.108 |
|
|
|
|
|
|
|
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|
Less |
DEPRECIATION/
AMORTISATION (F) |
2.311 |
2.618 |
2.669 |
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|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX (E-F) (G) |
0.360 |
(13.756) |
5.439 |
|
|
|
|
|
|
|
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|
Less |
TAX (H) |
0.000 |
(0.080) |
1.679 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
AFTER TAX (G-H) (I) |
0.360 |
(13.676) |
3.760 |
|
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|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
0.11 |
(4.30) |
1.19 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin PAT / Sales |
(%) |
0.18 |
(6.39) |
1.37 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/Sales) |
(%) |
1.72 |
(4.58) |
3.30 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets) |
(%) |
0.37 |
(13.00) |
4.57 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.01 |
(0.21) |
0.07 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.02 |
0.10 |
0.06 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.39 |
2.07 |
2.39 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
Rs.
In Million |
Rs.
In Million |
Rs.
In Million |
|
Share Capital |
31.568 |
31.568 |
31.568 |
|
Reserves & Surplus |
46.701 |
33.025 |
33.384 |
|
Share Application money pending
allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
78.269 |
64.593 |
64.952 |
|
|
|
|
|
|
long-term borrowings |
1.444 |
1.426 |
0.663 |
|
Short term borrowings |
3.047 |
4.994 |
0.911 |
|
Total
borrowings |
4.491 |
6.420 |
1.574 |
|
Debt/Equity
ratio |
0.057 |
0.099 |
0.024 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
Rs.
In Million |
Rs.
In Million |
Rs.
In Million |
|
Sales |
274.391 |
214.023 |
204.561 |
|
|
|
(22.001) |
(4.421) |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
Rs.
In Million |
Rs.
In Million |
Rs.
In Million |
|
Sales
|
274.391 |
214.023 |
204.561 |
|
Profit |
3.760 |
(13.676) |
0.360 |
|
|
1.37% |
(6.39%) |
0.18% |
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 |
No |
|
9] |
Name of person contacted |
No |
|
10] |
Designation of contact
person |
No |
|
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 |
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 |
No |
INDEX OF CHARGE:
|
Sr. No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10234491 |
20/11/2012 * |
12,000,000.00 |
BANK OF INDIA |
HOUSING FINANCE & PERSONAL BANKING BRANCH,, 1 ST FLOOR, DEWAKI CASTLE,KALOOR, ERNAKULAM, KOCHI, KERALA - 682017, INDIA |
B64770324 |
|
2 |
10113169 |
05/11/2009 * |
4,000,000.00 |
BANK OF INDIA |
RC1, MANI STREET, TIRUNAGAR, MADURAI, TAMIL NADU- 625006, INDIA |
A81876245 |
*Date of modification Charges
FIXED ASSETS:
·
Land
·
Building
·
Plant and Machinery
·
Furniture and Fixture
·
Office Equipment
·
Computer
·
Vehicles
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.62.05 |
|
|
1 |
Rs.96.03 |
|
Euro |
1 |
Rs.70.43 |
INFORMATION DETAILS
|
Information
Gathered by : |
GYT |
|
|
|
|
Analysis Done by
: |
SUC |
|
|
|
|
Report Prepared
by : |
NKT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILITY |
1~10 |
-- |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER
|
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
|
|
|
|
TOTAL |
|
29 |
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.