MIRA INFORM REPORT
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Report No. : |
304721 |
|
Report Date : |
23.01.2015 |
IDENTIFICATION DETAILS
|
Name : |
HYD-AIR ENGINEERING
PRIVATE LIMITED |
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Registered
Office : |
Plot No.C-7, Street
No.22, M.I.D.C., Marol Industrial Area, Andheri (East), Mumbai – 400 093,
Maharashtra |
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Country : |
India |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
02.12.1981 |
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Com. Reg. No.: |
11-025760 |
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Capital Investment
/ Paid-up Capital : |
Rs.0.292
million |
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CIN No.: [Company Identification
No.] |
U99999MH1981PTC025760 |
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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.] |
Not Available |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer of hydraulic fittings, valves and
accessories. |
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No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
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Comments : |
Subject is an
established company having satisfactory track record. General financial
position of the company is normal and acceptable for business dealings. Trade relation
are reported as fair. Business is active. Payment terms are reported to be
usually correct. The company can
be considered normal for business dealings at usual trade terms and
conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
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. Abizar |
|
Designation : |
Marketing Head |
|
Contact No.: |
91-9821312866 |
|
Date : |
22.01.2015 |
LOCATIONS
|
Registered Office/ Factory : |
Plot No.C-7, Street
No.22, M.I.D.C., Marol Industrial Area, Andheri (East), Mumbai – 400 093,
Maharashtra, India |
|
Tel. No.: |
91-22-28329325/
28372280/ 28362830 91-22-67024018 (Sales) |
|
Mobile No.: |
91-9821312866 (Mr. Abizar) |
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Fax No.: |
91-22-28372281 |
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E-Mail : |
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Website : |
DIRECTORS
AS ON 30.09.2014
|
Name : |
Mr.
Nadir Shamoon Karachiwala |
|
Designation : |
Director |
|
Address : |
Avillion Apartment, Flat
No.12, 3rd Floor, Little Gibbs Road, Malabar Hill, Mumbai – 400
006, Maharashtra, India |
|
Date of Birth/Age : |
31.12.1937 |
|
Date of Appointment : |
02.12.1981 |
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DIN No.: |
00293574 |
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|
|
|
Name : |
Mrs.
Kulsum Nadir Karachiwala |
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Designation : |
Director |
|
Address : |
Avillion Apartment, Flat
No.12, 3rd Floor, Little Gibbs Road, Malabar Hill, Mumbai – 400
006, Maharashtra, India |
|
Date of Birth/Age : |
11.05.1942 |
|
Date of Appointment : |
01.02.2005 |
|
DIN No.: |
00300282 |
KEY EXECUTIVES
|
Name : |
Mr. Abizar |
|
Designation : |
Marketing Head |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2014
|
Names of Shareholders |
No. of Shares |
% of Holding |
|
Nadir
Shamoon Karachiwala |
1170 |
40.01 |
|
Kulsum
Nadir Karachiwala |
1170 |
40.01 |
|
Zuher
Nadir Karachiwala |
292 |
9.99 |
|
Quresh
Nadir Karachiwala |
292 |
9.99 |
|
Total
|
2924 |
100.00 |
AS ON 30.09.2014
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Directors
or relatives of directors |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of hydraulic fittings, valves and
accessories. |
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Products : |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
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Selling : |
Not Divulged |
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Purchasing : |
Not Divulged |
PRODUCTION STATUS [AS ON 31.03.2013]:
Licensed Capacity and Installed Capacity: Not
Applicable
|
Particulars |
Unit |
Actual
Production |
|
Hydraulic
Fittings |
Qty. in Nos. |
435829 |
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
Information declined by the management |
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Bankers : |
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Facilities : |
Notes: LONG TERM BORROWINGS i)
Term Loans from Bank include: (a) During the year the
loan taken from cosmos bank in earlier year and which secured against land
and Building at MIDC Pune has been fully repaid off. (b) During the year the
company has taken a loan from HDFC Bank secured against Motor Car. This loan
is repayable in 60 equal monthly instalments of Rs.0.008 million. The total
amount outstanding against the said loan is Rs.0.306 million (Previous year
Nil) ii) The Company has taken
Secured Loans from Financial Institutions as under: (a) during the year the
company has swapped its loan with Kotak Mahindra Prime Limited with a new
loan from the same bank against the security of the motor car. The amount
outstanding against said loan as on 31st March 2014 is Rs. 0.994
million (Previous year Nil) (b) Loans taken from Alta
Leasing and Finance Limited for the purchase of machinery. The said loans are
secured by hypothecation of machine. They are repayable in equal monthly
instalments. They carry an interest rate of 8%-8.2%. Total outstanding as on
31st March, 2013 is Rs.1.232 millions (Previous Year - Rs. 2.338
millions) SHORT TERM BORROWINGS i) The Secured Loan from
Banks includes Cash Credit taken from the Cosmos Co-Operative Bank Limited,
and is secured against charge of all current assets. Total outstanding as on
31st March, 2014 is Rs.6.451 millions (Previous Year - Rs. 4.156
millions). ii) The packing credit
loan availed from the Cosmos Co-operative bank limited secured against goods
and bills was fully repaid during the year. iii) The loans from financial
institution is from Alta leasing and finance limited. Secured against bills
discounted. The outstanding as on 31st March 2014 is Rs.1.180
millions (Previous year Rs.1.175 millions) |
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Financial Institutions : |
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Auditors : |
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Name : |
CNK and Associates LLP Chartered Accountants |
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Address 1 : |
Jash Chambers, 3rd Floor, 7-A, Sir P.M. Road, Fort, Mumbai
– 400 001, Maharashtra, India |
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Tel No.: |
91-22-66230600/22661819 |
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Fax No.: |
91-22-22615814 |
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Address 2 : |
Narian Chambers, 5th floor, M.G. Road, Vile Parle (East),
Mumbai-400057, Maharashtra, India |
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Tel No.: |
91-22-64577600 |
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Fax No.: |
91-22-26128580 |
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PAN No.: |
AACFC8587E |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Associate Companies |
Hyd-Air
USA Inc. |
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Companies in which the directors and their
relatives hold more than 20% of beneficial interest : |
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CAPITAL STRUCTURE
AS ON 30.09.20134
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
3000 |
Equity Shares |
Rs.100/- each |
Rs.0.300 million |
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|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
2924 |
Equity Shares |
Rs.100/-
each |
Rs.0.292
million |
|
|
|
|
|
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 |
0.292 |
0.292 |
0.292 |
|
(b) Reserves & Surplus |
17.856 |
15.347 |
16.280 |
|
(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) |
18.148 |
15.639 |
16.572 |
|
|
|
|
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(3)
Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
0.642 |
1.264 |
3.262 |
|
(b) Deferred tax liabilities (Net) |
1.118 |
0.377 |
1.616 |
|
(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) |
1.760 |
1.641 |
4.878 |
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(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
10.032 |
12.557 |
6.755 |
|
(b)
Trade payables |
37.494 |
33.918 |
28.559 |
|
(c)
Other current liabilities |
5.463 |
8.193 |
6.152 |
|
(d)
Short-term provisions |
0.667 |
0.000 |
0.000 |
|
Total
Current Liabilities (4) |
53.656 |
54.668 |
41.466 |
|
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|
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TOTAL |
73.564 |
71.948 |
62.916 |
|
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II.
ASSETS |
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|
(1) Non-current assets |
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(a) Fixed Assets |
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(i)
Tangible assets |
24.107 |
25.630 |
28.078 |
|
(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 |
2.767 |
2.767 |
0.547 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan
and Advances |
1.636 |
1.998 |
1.743 |
|
(e)
Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
28.510 |
30.395 |
30.368 |
|
|
|
|
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(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
11.245 |
14.740 |
13.740 |
|
(c)
Trade receivables |
31.898 |
25.358 |
16.476 |
|
(d)
Cash and cash equivalents |
1.793 |
1.242 |
1.381 |
|
(e)
Short-term loans and advances |
0.075 |
0.113 |
0.535 |
|
(f)
Other current assets |
0.043 |
0.100 |
0.416 |
|
Total
Current Assets |
45.054 |
41.553 |
32.548 |
|
|
|
|
|
|
TOTAL |
73.564 |
71.948 |
62.916 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
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|
|
Income |
105.457 |
73.430 |
63.632 |
|
|
|
Other Income |
1.746 |
1.145 |
0.802 |
|
|
|
TOTAL |
107.203 |
74.575 |
64.434 |
|
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|
|
|
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|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
103.065 |
76.694 |
66.230 |
|
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Add |
EXCEPTIONAL
ITEMS |
0.000 |
0.000 |
0.040 |
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|
PROFIT / (LOSS)
BEFORE TAX |
4.138 |
(2.119) |
(1.756) |
|
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|
Less |
TAX |
1.591 |
(1.186) |
0.054 |
|
|
|
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|
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|
|
PROFIT / (LOSS)
AFTER TAX |
2.547 |
(0.933) |
(1.810) |
|
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|
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|
Add |
PREVIOUS YEARS’
BALANCE BROUGHT FORWARD |
5.255 |
6.188 |
8.013 |
|
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|
|
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|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Interest
Payable on DDT |
0.000 |
0.000 |
0.016 |
|
|
BALANCE CARRIED
TO THE B/S |
7.802 |
5.255 |
6.188 |
|
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|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
FOB
Value of Goods Exported |
0.000 |
19.883 |
3.143 |
|
|
TOTAL EARNINGS |
0.000 |
19.883 |
3.143 |
|
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|
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IMPORTS |
|
|
|
|
|
|
|
Vendor
Components |
N.A |
0.000 |
0.394 |
|
|
|
Traded
Goods |
N.A |
1.896 |
1.197 |
|
|
TOTAL IMPORTS |
N.A |
1.896 |
1.591 |
|
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|
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|
|
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|
|
|
Earnings /
(Loss) Per Share (Rs.) |
871.07 |
(319.19) |
(618.99) |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT/Sales) |
(%) |
2.42 |
(1.27) |
(2.84) |
|
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|
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|
Return on Total Assets (PBT/Total Assets} |
(%) |
5.84 |
(3.06) |
(2.82) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.23 |
(0.14) |
(0.11) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.59 |
0.88 |
0.60 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.84 |
0.76 |
0.78 |
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 |
0.292 |
0.292 |
0.292 |
|
Reserves & Surplus |
16.280 |
15.347 |
17.856 |
|
Net
worth |
16.572 |
15.639 |
18.148 |
|
|
|
|
|
|
long-term borrowings |
3.262 |
1.264 |
0.642 |
|
Short term borrowings |
6.755 |
12.557 |
10.032 |
|
Total
borrowings |
10.017 |
13.821 |
10.674 |
|
Debt/Equity
ratio |
0.604 |
0.884 |
0.588 |
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 |
63.632 |
73.430 |
105.457 |
|
|
|
15.398 |
43.616 |
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 |
63.632 |
73.430 |
105.457 |
|
Profit |
(1.810) |
(0.933) |
2.547 |
|
|
(2.84%) |
(1.27%) |
2.42% |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES
OF LONG TERM DEBT
(Rs.
In Millions)
|
Particular |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current maturities
of long-term debt |
1.890 |
3.346 |
3.853 |
|
Total |
1.890 |
3.346 |
3.853 |
|
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 |
Yes |
|
30] |
Major Shareholders, if available |
Yes |
|
31] |
PAN of Proprietor/Partner/Director, if available |
No |
|
32] |
Date
of Birth 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:
|
Unsecured Loans |
31.03.2014 (Rs.
in Millions) |
31.03.2013 (Rs.
in Millions) |
|
SHORT TERM BORROWINGS |
|
|
|
Loans
from Directors and Related Parties |
2.401 |
3.226 |
|
Total
|
2.401 |
3.226 |
Note:
The registered office of the company has been shifted from Maskati House, 76, Mohmedali Road, Bombay – 400 003, Maharashtra to the present address w.e.f. 01.10.2007.
BUSINESS OPERATIONS:
During the financial year
the company’s loss after tax as compared to the loss of the last year. The
company’s performance has improved as compared to last year despite
difficulties in economic environment of the country. The company expects that
it will help improve results in the coming years.
COMPANY OVERVIEW:
The company is a closely held company
incorporated on 2nd September, 1981 as a manufacturing and trading
company dealing in engineering tools. The company follows mercantile system of
accounting and accounts for its Revenue and Expenditure as and when they are
earned incurred.
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10401129 |
17/09/2012 |
18,400,000.00 |
The Cosmos Co-op Bank Ltd |
Dadar Branch ,36A, Maru Niketan, D L Vaidya Road |
B63618326 |
FIXED ASSETS:
·
Leasehold
land (MIDC)
·
Land
at MIDC Pune
·
Factory
Building (MIDC)
·
Girikunj
Premises B-14
·
Plant
and Machinery
·
Electrical
Installation
·
Furniture
and Fixtures
·
Air
Conditioner
·
Motor
Car
·
Inspection
Equipment *
·
Office
Equipment
·
Racks
·
Weighing
machine *
·
Computer
·
Electronic
Typewriter
·
Xerox
Machine
·
Building
(Chakkan)
*
The Assets of the company which have been depreciated to the extent of 95 % of
the cost of Asset hence not further depreciated within the provision of section
205 C of Companies Act, 1956 has been provided.
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.61.69 |
|
|
1 |
Rs.93.32 |
|
Euro |
1 |
Rs.71.48 |
INFORMATION DETAILS
|
Information Gathered
by : |
GAY |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
JYTK |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--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 |
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 |
|
45 |
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.