MIRA INFORM REPORT
|
Report No. : |
303107 |
|
Report Date : |
27.01.2015 |
IDENTIFICATION DETAILS
|
Name : |
ZODIX AUTO PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Ahata Nandpurigill Road, Ludhiana – 141003, Punjab |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
18.05.1994 |
|
|
|
|
Com. Reg. No.: |
16-014583 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs.1.210 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U35999PB1994PTC014583 |
|
|
|
|
TIN No.: |
Not Available |
|
|
|
|
IEC No.: |
Not Available |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
Not Available |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Trading of Auto Parts. |
|
|
|
|
No. of Employees
: |
Information denied by management |
RATING & COMMENTS
|
MIRA’s Rating : |
B (26) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 145000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having moderate track record. The management has failed to file its financial with government
department for the year 2014. As per available financial of 2013, the company has taken huge
external borrowing, which act as threatening to the liquidity position of the
company. However, trade relations are 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 – September 30, 2014
|
Country Name |
Previous Rating (30.06.2014) |
Current Rating (30.09.2014) |
|
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
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 BY
|
Name : |
Mr. Vijay Arora |
|
Designation : |
Director |
|
Contact No.: |
91-8054507000 |
|
Date : |
21.01.2015 |
LOCATIONS
|
Registered Office : |
Ahata Nandpurigill Road, Ludhiana – 141003, Punjab, India |
|
Tel. No.: |
91-161-4680800 / 2530025 |
|
Mobile No.: |
91-8054507000 (Mr. Vijay Arora) |
|
Fax No.: |
91-161-2533723 / 4680804 |
|
E-Mail : |
|
|
Website : |
DIRECTORS
As on 30.09.2013
|
Name : |
Mr. Vijay Arora |
|
Designation : |
Director |
|
Address : |
7 - B, Shakti Nagar, Sargodha Colony, Pakhowal Road, Ludhiana -
141001, Punjab, India |
|
Date of Birth/Age : |
24.07.1958 |
|
Date of Appointment : |
18.05.1994 |
|
DIN No.: |
01356782 |
|
|
|
|
Name : |
Mr. Om Parkash Arora |
|
Designation : |
Director |
|
Address : |
6 - B, Shakti Nagar, Sargodha Colony, Pakhowal Road, Ludhiana -
141001, Punjab, India |
|
Date of Birth/Age : |
03.01.1933 |
|
Date of Appointment : |
18.05.1994 |
|
DIN No.: |
01356880 |
|
|
|
|
Name : |
Mr. Ajay Arora |
|
Designation : |
Director |
|
Address : |
6 - B, Shakti Nagar, Sargodha Colony, Pakhowal Road, Ludhiana -
141001, Punjab, India |
|
Date of Birth/Age : |
03.08.1970 |
|
Date of Appointment : |
18.05.1994 |
|
DIN No.: |
01571797 |
MAJOR SHAREHOLDERS
As on 30.09.2013
|
Names of Shareholders |
|
No. of Shares |
|
Arora om Parkash |
|
35000 |
|
Vijay Arora |
|
23300 |
|
Ajay Arora |
|
35000 |
|
Sudesh Arora |
|
3000 |
|
Anita Arora |
|
3000 |
|
Shalini Arora |
|
2900 |
|
Avi Arora |
|
11700 |
|
Ajay Arora and Sons (HUF) |
|
2000 |
|
Anil Mittal and Sons (HUF) |
|
100 |
|
Arvind Kumar and Sons (HUF) |
|
100 |
|
Anup Sachadev |
|
100 |
|
Arora om Parkash and Sons (HUF) |
|
2000 |
|
Vijay Arora and Sons (HUF) |
|
2000 |
|
Lakhbir Singh and Sons (HUF) |
|
100 |
|
Pardeep Gulati and Sons (HUF) |
|
100 |
|
Pardeep Pahwa and Sons (HUF) |
|
100 |
|
Ravi Sareen and Sons (HUF) |
|
100 |
|
S.K. Malhotra and Sons (HUF) |
|
100 |
|
Satnam Singh and Sons (HUF) |
|
100 |
|
Sheena Arora |
|
100 |
|
D.R. Gulati and Sons (HUF) |
|
100 |
|
Total |
|
121000 |
Equity Share Break up (Percentage of Total Equity)
As on 30.09.2013
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Trading of Auto Parts. |
|
|
|
|
Products : |
Auto Parts |
|
|
|
|
Brand Names : |
-- |
|
|
|
|
Agencies Held : |
-- |
|
|
|
|
Exports : |
Not Divulged |
|
|
|
|
Imports : |
Not Divulged |
|
|
|
|
Terms : |
|
|
Selling : |
Not Divulged |
|
|
|
|
Purchasing : |
Not Divulged |
PRODUCTION STATUS – NOT APPLICABLE
GENERAL INFORMATION
|
Suppliers : |
Not Divulged |
|||||||||||||||||||||
|
|
|
|||||||||||||||||||||
|
Customers : |
Not Divulged |
|||||||||||||||||||||
|
|
|
|||||||||||||||||||||
|
No. of Employees : |
Information denied by management |
|||||||||||||||||||||
|
|
|
|||||||||||||||||||||
|
Bankers : |
|
|||||||||||||||||||||
|
|
|
|||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Auditors : |
|
|
Name : |
Harinder Ahuja and Associates Chartered Accountants |
|
Address : |
2nd Floor, Jai Singh Complex, 595, Model Town, Ludhiana – 141002,
Punjab, India |
|
Tel. No.: |
91-161-4623023 / 5096789 |
|
E-Mail : |
|
|
PAN No.: |
AABFH6177N |
|
|
|
|
Memberships : |
-- |
|
|
|
|
Collaborators : |
-- |
|
|
|
|
Sister Concern : |
Not Available |
CAPITAL STRUCTURE
As on 30.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
150000 |
Equity Shares |
Rs.10/- each |
Rs.1.500 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
121000 |
Equity Shares |
Rs.10/- each |
Rs.1.210 Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
1.210 |
1.210 |
1.210 |
|
(b) Reserves & Surplus |
4.376 |
4.352 |
4.342 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
45.029 |
18.409 |
6.207 |
|
Total
Shareholders’ Funds (1) + (2) |
50.615 |
23.971 |
11.759 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
38.650 |
31.354 |
17.323 |
|
(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) |
38.650 |
31.354 |
17.323 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
5.428 |
0.000 |
0.000 |
|
(b) Trade
payables |
12.796 |
19.001 |
17.865 |
|
(c) Other
current liabilities |
10.390 |
6.665 |
3.894 |
|
(d) Short-term
provisions |
0.000 |
0.000 |
0.000 |
|
Total Current
Liabilities (4) |
28.614 |
25.666 |
21.759 |
|
|
|
|
|
|
TOTAL |
117.879 |
80.991 |
50.841 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
22.191 |
22.068 |
22.695 |
|
(ii)
Intangible Assets |
0.042 |
0.089 |
0.087 |
|
(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 |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
0.089 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
0.211 |
0.046 |
0.047 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
22.533 |
22.203 |
22.829 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
59.721 |
37.041 |
11.590 |
|
(c) Trade
receivables |
20.103 |
14.202 |
10.035 |
|
(d) Cash and
cash equivalents |
7.680 |
2.888 |
4.573 |
|
(e)
Short-term loans and advances |
7.840 |
4.651 |
1.812 |
|
(f) Other
current assets |
0.002 |
0.006 |
0.002 |
|
Total
Current Assets |
95.346 |
58.788 |
28.012 |
|
|
|
|
|
|
TOTAL |
117.879 |
80.991 |
50.841 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
||
|
|
SALES |
|
|
|
||
|
|
|
Income |
113.614 |
84.223 |
60.248 |
|
|
|
|
Other Income |
1.770 |
3.075 |
0.838 |
|
|
|
|
TOTAL (A) |
115.384 |
87.298 |
61.086 |
|
|
|
|
|
|
|
||
|
Less |
EXPENSES |
|
|
|
||
|
|
|
Cost of Materials Consumed |
93.050 |
70.868 |
48.250 |
|
|
|
|
Employee Benefits Expenses |
4.965 |
3.826 |
3.155 |
|
|
|
|
Other Expenses |
11.444 |
9.041 |
6.766 |
|
|
|
|
TOTAL (B) |
109.459 |
83.735 |
58.171 |
|
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS)
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
5.925 |
3.563 |
2.915 |
||
|
|
|
|
|
|
||
|
Less |
FINANCIAL
EXPENSES (D) |
4.239 |
2.049 |
1.452 |
||
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D)
(E) |
1.686 |
1.514 |
1.463 |
||
|
|
|
|
|
|
||
|
Less |
DEPRECIATION/
AMORTISATION (F) |
1.652 |
1.403 |
1.370 |
||
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS) BEFORE
TAX (E-F) (G) |
0.034 |
0.111 |
0.093 |
||
|
|
|
|
|
|
||
|
Less |
TAX (H) |
0.010 |
0.100 |
0.031 |
||
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS)
AFTER TAX (G-H) (I) |
0.024 |
0.011 |
0.062 |
||
|
|
|
|
|
|
||
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
2.052 |
2.041 |
1.979 |
||
|
|
|
|
|
|
||
|
|
BALANCE CARRIED
TO THE B/S |
2.076 |
2.052 |
2.041 |
||
|
|
|
|
|
|
||
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
||
|
|
|
Export Earnings |
64.324 |
66.396 |
46.830 |
|
|
|
TOTAL EARNINGS |
64.324 |
66.396 |
46.830 |
||
|
|
|
|
|
|
||
|
|
Earnings /
(Loss) Per Share (Rs.) |
0.19 |
0.09 |
0.51 |
||
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
Net Profit Margin (PAT/Sales) |
(%) |
0.02 |
0.01 |
0.10 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/Sales) |
(%) |
5.22 |
4.23 |
4.84 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.03 |
0.14 |
0.18 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.00 |
0.00 |
0.01 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.87 |
1.31 |
1.47 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
3.33 |
2.29 |
1.29 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
Rs.
In Millions |
Rs.
In Millions |
Rs.
In Millions |
|
Share Capital |
1.210 |
1.210 |
1.210 |
|
Reserves & Surplus |
4.342 |
4.352 |
4.376 |
|
Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money pending allotment |
6.207 |
18.409 |
45.029 |
|
Net
worth |
11.759 |
23.971 |
50.615 |
|
|
|
|
|
|
Long Term borrowings |
17.323 |
31.354 |
38.650 |
|
Short Term borrowings |
0.000 |
0.000 |
5.428 |
|
Total
borrowings |
17.323 |
31.354 |
44.078 |
|
Debt/Equity
ratio |
1.473 |
1.308 |
0.871 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
Rs.
In Millions |
Rs.
In Millions |
Rs.
In Millions |
|
Sales |
60.248 |
84.223 |
113.614 |
|
|
|
39.794 |
34.897 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
Rs.
In Millions |
Rs.
In Millions |
Rs.
In Millions |
|
Sales
|
60.248 |
84.223 |
113.614 |
|
Profit |
0.062 |
0.011 |
0.024 |
|
|
0.10% |
0.01% |
0.02% |
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 |
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 |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details
(if applicable) |
No |
|
21] |
Market information |
---------- |
|
22] |
Litigations that the firm
/ promoter involved in |
---------- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking
account |
---------- |
|
26] |
Buyer visit details |
---------- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
No |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of
Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
No |
UNSECURED LOANS:
|
Particulars |
31.03.2013 Rs. In Millions |
31.03.2012 Rs. In Millions |
|
LONG TERM BORROWINGS |
|
|
|
Loans From Directors |
10.222 |
12.522 |
|
loans From Shareholders |
27.865 |
18.194 |
|
Total |
38.087 |
30.716 |
INDEX OF CHARGE:
|
Sr. No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10174357 |
25/03/2013 * |
12,000,000.00 |
Axis Bank Ltd |
Mall Road, Ludhiana, Punjab - 141001, India |
B73449514 |
*Date of modification Charges
FIXED ASSETS:
·
Land
·
Building
·
Plant and Machinery
·
Computer
·
Vehicles
·
Furniture and Fixture
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources including
but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No records exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist organization
or whom notice had been received that all financial transactions involving
their assets have been blocked or convicted, found guilty or against whom a
judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent government
authority for any violation of anti-corruption laws or international anti-money
laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.69 |
|
|
1 |
Rs.93.33 |
|
Euro |
1 |
Rs.71.49 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
VNT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILITY |
1~10 |
2 |
|
--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 |
|
26 |
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.