MIRA INFORM REPORT
|
Report No. : |
329905 |
|
Report Date : |
01.07.2015 |
IDENTIFICATION DETAILS
|
Name : |
GRESCASA CERAMICS LIMITED (w.e.f. 04.05.2007) |
|
|
|
|
Formerly Known
As : |
GRESCASA
CERAMICS PRIVATE LIMITED (w.e.f. 26.04.2007) PADMA CERAMICS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
5/E, Laxmi Industrial Estate, New Link Road, Andheri (East), Mumbai –
400053, Maharashtra |
|
Tel. No.: |
91-22-66992403 / 26313096 / 95 |
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|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
24.03.2003 |
|
|
|
|
Com. Reg. No.: |
11-139704 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 24.673 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U51503MH2003PLC139704 |
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|
|
|
IEC No.: |
0303001046 |
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|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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|
|
|
PAN No.: [Permanent Account No.] |
AACCP9045R |
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|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Subject is engaged in business of imports and trading of ceramic tiles, bathroom fittings and other items. |
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|
|
|
No. of Employees
: |
8 (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 |
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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. As per Registrar of Companies the date of balance sheets i.e.
financials filed is shown as 31st March, 2014 but the documents related
to the financials for the year 2014 are not available from any sources. As per available financial of 2013, there seems dip in the turnover of
the company, small net worth base and unfavorable gap between trade
receivable and trade payables. However, trade relations are reported to be fair. Business is active.
Payments are reported to be slow but correct. The company can be considered for business dealing with some cautions. |
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 – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
Not Available |
|
Rating |
Not Available |
|
Rating Explanation |
Not Available |
|
Date |
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
31-03-2013.
INFORMATION PARTED BY
|
Name : |
Mr. Viliam |
|
Designation : |
Accountant |
|
Contact No.: |
91-22-26313095 |
|
Date : |
01.07.2015 |
LOCATIONS
|
Registered Office/ Warehouse : |
5/E, Laxmi Industrial Estate, New Link Road, Andheri (East), Mumbai –
400053, Maharashtra, India |
|
Tel. No.: |
91-22-26313095 |
|
Fax No.: |
91-22-26358170 |
|
E-Mail : |
|
|
Website : |
DIRECTORS
As on: 30.09.2013
|
Name : |
Mr. Rakesh Agarwal |
|
Designation : |
Director |
|
Address : |
8th Floor, Tenth Avenue, 10th Road, JVPD Scheme, Mumbai – 400049,
Maharashtra, India |
|
Date of Appointment : |
24.03.2003 |
|
PAN No.: |
AABPA3090M |
|
DIN No.: |
00954728 |
|
|
|
|
Name : |
Mrs. Sangita Agarwal |
|
Designation : |
Director |
|
Address : |
8th Floor, Tenth Avenue, 10th Road, JVPD Scheme, Mumbai – 400049,
Maharashtra, India |
|
Date of Appointment : |
24.03.2013 |
|
PAN No.: |
AAIPA3190P |
|
DIN No.: |
00954698 |
|
|
|
|
Name : |
Mr. Agrim Agarwal |
|
Designation : |
Director |
|
Address : |
B 505, Sunswept Lokhandwala, Andheri (West), Mumbai – 400053,
Maharashtra, India |
|
Date of Birth/Age : |
19.09.1989 |
|
Date of Appointment : |
25.02.2009 |
|
PAN No.: |
AKLPA3999F |
|
DIN No.: |
02195185 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 30.09.2013
|
Names of Shareholders |
|
No. of Shares |
|
Rakesh Agarwal |
|
6700000 |
|
Sangita Agarwal |
|
7000000 |
|
Padmavati Agarwal |
|
100000 |
|
Mathuraprasad Agarwal |
|
10000 |
|
William Tuscano |
|
1000 |
|
Madhura Pawar |
|
1000 |
|
Pooja Gawade |
|
1000 |
|
Agrim Agarwal |
|
900000 |
|
Hopewell Enclave Makers Private Limited |
|
9960000 |
|
Total |
|
24673000 |
Equity Share Break up (Percentage of Total Equity)
As on: 30.09.2013
|
Category |
Percentage |
|
Bodies corporate |
40.36 |
|
Directors or relatives of Directors |
59.64 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in business of imports and trading of ceramic tiles, bathroom fittings and other items. |
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|
|
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Products : |
Not Available |
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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 : |
Depend |
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Purchasing : |
Depend |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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No. of Employees : |
8 (Approximately) |
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Bankers : |
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Facilities : |
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Auditors : |
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|
Name : |
R.V.A and Associates Chartered Accountants |
|
Address : |
17/18, Dami Shamji Udog Bhavan, Veera Desai Road, Andheri (West),
Mumbai – 400053, Maharashtra, India |
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Tel. No.: |
91-22-26734882/4955 |
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Mobile No.: |
91-9820066056 |
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E-Mail : |
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PAN N Income-tax PAN of auditor or auditor's firm : |
AABPA0417G |
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Memberships : |
-- |
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Collaborators : |
-- |
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Associates/Subsidiaries : |
Not Divulged |
CAPITAL STRUCTURE
As on: 30.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2500000 |
Equity Shares |
Rs.10/- each |
Rs. 25.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2467300 |
Equity Shares |
Rs.10/- each |
Rs. 24.673
Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Million]
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 |
24.673 |
24.673 |
14.713 |
|
(b) Reserves & Surplus |
54.102 |
52.599 |
11.332 |
|
(c) Money received against
share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application
money pending allotment |
0.000 |
0.000 |
49.800 |
|
Total Shareholders’ Funds (1) + (2) |
78.775 |
77.272 |
75.845 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term
borrowings |
14.685 |
14.806 |
0.000 |
|
(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) |
14.685 |
14.806 |
0.000 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term
borrowings |
10.301 |
16.559 |
26.696 |
|
(b) Trade payables |
21.638 |
33.641 |
62.669 |
|
(c) Other current
liabilities |
0.934 |
0.954 |
0.000 |
|
(d) Short-term
provisions |
0.276 |
0.763 |
0.835 |
|
Total Current
Liabilities (4) |
33.149 |
51.917 |
90.200 |
|
|
|
|
|
|
TOTAL |
126.609 |
143.995 |
166.045 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
3.564 |
4.445 |
3.069 |
|
(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 |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax
assets (net) |
0.426 |
0.112 |
0.100 |
|
(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 |
3.990 |
4.557 |
3.169 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
111.368 |
122.383 |
134.948 |
|
(c) Trade receivables |
9.394 |
13.875 |
25.769 |
|
(d) Cash and cash
equivalents |
0.755 |
1.954 |
0.421 |
|
(e) Short-term loans
and advances |
1.102 |
1.226 |
1.738 |
|
(f) Other current
assets |
0.000 |
0.000 |
0.000 |
|
Total Current Assets |
122.619 |
139.438 |
162.876 |
|
|
|
|
|
|
TOTAL |
126.609 |
143.995 |
166.045 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
SALES |
|
|
|
|
|
Income |
92.099 |
150.098 |
121.984 |
|
|
Other Income |
0.001 |
0.004 |
0.004 |
|
|
TOTAL (A) |
92.100 |
150.102 |
121.988 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Purchases of
Stock-in-Trade |
55.193 |
106.448 |
87.689 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
11.016 |
12.565 |
2.181 |
|
|
Employees benefits
expense |
6.627 |
7.221 |
6.353 |
|
|
Other expenses |
13.765 |
16.225 |
18.995 |
|
|
TOTAL (B) |
86.601 |
142.459 |
115.218 |
|
|
|
|
|
|
|
Less |
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION (C) |
5.499 |
7.643 |
6.770 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES (D) |
2.551 |
4.415 |
3.478 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
2.948 |
3.228 |
3.292 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
1.083 |
1.046 |
0.807 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX (E-F) (G) |
1.865 |
2.182 |
2.485 |
|
|
|
|
|
|
|
Less |
TAX (I) |
0.362 |
0.756 |
0.820 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
(G-I) (J) |
1.503 |
1.426 |
1.665 |
|
|
|
|
|
|
|
|
CIF Value of
Imports |
33.705 |
68.119 |
56.713 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (Rs.) |
0.61 |
0.58 |
1.13 |
|
Particulars |
|
31.03.2015 |
31.03.2014 |
|
Sales Turnover (Approximately) |
|
80.000 |
90.000 |
|
|
|
Due to Market
Down |
|
The above information has been parted by Mr. Viliam (Accountant)
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
Current Maturities of Long term debt |
NA |
NA |
NA |
|
Cash generated from operations |
NA |
NA |
NA |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
Net Profit Margin (PAT / Sales) |
(%) |
1.63 |
0.95 |
1.36 |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
5.97 |
5.09 |
5.55 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.48 |
1.52 |
1.50 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.02 |
0.03 |
0.03 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.32 |
0.41 |
0.35 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
3.70 |
2.69 |
1.81 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Share Capital |
14.713 |
24.673 |
24.673 |
|
Reserves & Surplus |
11.332 |
52.599 |
54.102 |
|
Share Application money
pending allotment |
49.800 |
0.000 |
0.000 |
|
Net worth |
75.845 |
77.272 |
78.775 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
14.806 |
14.685 |
|
Short term borrowings |
26.696 |
16.559 |
10.301 |
|
Total borrowings |
26.696 |
31.365 |
24.986 |
|
Debt/Equity ratio |
0.352 |
0.406 |
0.317 |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Sales |
121.984 |
150.098 |
92.099 |
|
|
|
23.047 |
(38.641) |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Sales |
121.984 |
150.098 |
92.099 |
|
Profit |
1.665 |
1.426 |
1.503 |
|
|
1.36% |
0.95% |
1.63% |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
|
1 |
Year of establishment |
Yes |
|
2 |
Constitution of the entity -Incorporation
details |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
No |
|
5 |
Buyer visit details |
-- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
Yes |
|
8 |
Designation of contact person |
Yes |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
Yes |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
No |
|
16 |
No. of employees |
Yes |
|
17 |
Details of sister concerns |
No |
|
18 |
Major suppliers |
Yes |
|
19 |
Major customers |
Yes |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
No |
|
22 |
Conduct of the banking account |
-- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
No |
|
26 |
Turnover of firm for last four years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
No |
|
32 |
Litigations that the firm/promoter
involved in |
-- |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
Yes |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
UNSECURED LOAN
|
PARTICULARS |
31.03.2013 (Rs.
in Million) |
31.03.2012 (Rs.
in Million) |
|
Long-term
Borrowings |
|
|
|
Loans From Directors |
14.685 |
14.805 |
|
|
|
|
|
Total |
14.685 |
14.805 |
CORPORATE INFORMATION
Grescasa Ceramics Limited is a company incorporated under the Companies Act, 1956. The company's registered office is situated at 5-E, Laxmi Industrial Estate, New Link Road, Andheri (w), Mumbai - 400053. The company is engaged in business of imports and trading of ceramic tiles, bathroom fittings and other items. The said business is carried on from the premises referred to hereinbefore.
INDEX
OF CHARGES
|
S.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10061430 |
11/06/2007 |
51,000,000.00 |
UNITED BANK OF INDIA |
SHUBHAM CHS LTD. 1ST FLOOR,, JUHU VERSOVA LINK ROAD, ANDHERI (WEST),,
MUMBAI, Maharashtra - 400053, |
A19430875 |
|
2 |
90148275 |
14/05/2003 |
800,000.00 |
UNITED BANK OF INDIA |
VERSOVA BRANCH ANDHERI WEST, MUMBAI, Maharashtra, |
- |
FIXED ASSETS
- Air
Conditioner
- Computer
- Furniture and
Fixtures
- Mobile phone
- Motor
Car-Honda-accord
- Motor
Car-Honda – Civic
- Motor Car –
Indica
- Motor Car-
Jetta
- Track
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.63.75 |
|
|
1 |
Rs.100.12 |
|
Euro |
1 |
Rs.71.20 |
INFORMATION DETAILS
|
Information
Gathered by : |
SUP |
|
|
|
|
Analysis Done by
: |
RSM |
|
|
|
|
Report Prepared
by : |
JYTK |
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.