MIRA INFORM REPORT

 

 

Report No. :

330424

Report Date :

04.07.2015

 

IDENTIFICATION DETAILS

 

Name :

VALMET CHENNAI PRIVATE LIMITED (w.e.f. 23.01.2014)

 

 

Formerly Known As :

METSO POWER INDIA PRIVATE LIMITED

 

 

Registered Office :

Central Square 1, 5th Floor, South Wing CIPET Road, Thiru-Vi-Ka Industrial Estate, Guindy Chennai – 600032, Tamilnadu

Tel. No.:

91-44-30179300

 

 

Country :

India

 

 

Financials (as on) :

31.03.2014

 

 

Date of Incorporation :

15.05.2008

 

 

Com. Reg. No.:

18-067754

 

 

Capital Investment / Paid-up Capital :

Rs. 56.538  Million

 

 

CIN No.:

[Company Identification No.]

U74200TN2008PTC067754

 

 

IEC No.:

Not Available

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

Not Available

 

 

PAN No.:

[Permanent Account No.]

AAFCM6191C

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Trading, Exporting and Importing of Boiler Accessories Like Pulping and Fiber, Chemical Pulping, Chemical Recovery, Lime Kiln, Pulp Drying, Mechanical Pulping etc.

 

 

No. of Employees :

200 (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

 

Maximum Credit Limit :

USD 57000

 

 

Status :

Moderate

 

 

Payment Behaviour :

Slow but correct

 

 

Litigation :

Clear

 

 

Comments :

Subject is a subsidiary of “Valmet Power Oy, Finland” It is incorporated in the year 2008. It is engaged in the business of trading, exporting and importing of boiler accessories. It has a moderate track record.

 

For the financial year ended 2014, the company has moderate financial risk profile and has incurred huge accumulated losses which has led to weak net worth position of the company.

 

However, the company possesses no borrowings and it has good sales turnover.

 

However, trade relations are fair. Business is active. Payments terms are slow but correct.

 

In view of huge losses incurred, the company can be considered for business dealings 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

 

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) DEFAILTERS’ 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. P. Shantha Kumar

Designation :

Manager

Contact No.:

91-44-30179300

Date :

03.07.2015

 

 

LOCATIONS

 

Registered Office :

Central Square 1, 5th Floor, South Wing CIPET Road, Thiru-Vi-Ka Industrial Estate, Guindy Chennai – 600032, Tamilnadu, India

Tel. No.:

91-44-30179300

Fax No.:

Not Available

E-Mail :

p.shanthakumar@valmet.com

rakesh.agarwal@valmet.com 

Location :

Rented

 

 

Warehouse :

Located At:

Vadodara, Gujarat, India

 

 

DIRECTORS

 

As on 30.09.2014

 

Name :

Mr. Rakesh Agarwal

Designation :

Director

Address :

B - 6/69, Pharma Apartments, 88, I P Extension, Delhi - 110092, India

Date of Birth/Age :

28.11.1969

Date of Appointment :

21.10.2009

DIN No. :

02107996

Other Directorship :

S. No.

CIN/LLPIN

Name of the Company/ LLP

Current designation of the Director/ Designated Partner

Date of appointment at current designation

Original date of appointment

Date of cessation

Company/ LLP Status

Defaulting status

1

U29199TN2005PTC098672

VALMET TECHNOLOGIES CO PRIVATE LIMITED

Managing director

14/03/2011

27/12/2007

-

Amalgamated

NO

2

U74200TN2008PTC067754

Valmet Chennai Private Limited

Director

21/10/2009

15/12/2008

-

Active

NO

3

U74210TN2005PTC055254

Valmet Technologies Engineering Services Private Limited

Director

10/10/2013

11/06/2013

-

Amalgamated

NO

 

 

Name :

Mr. Krishnan Suresh Kumar

Designation :

Director

Address :

C-212 Shrishti Apartments, 14/15 Sriram Nagar, 1st Cross Street Thiruvanmiyur, Chennai – 600041, Tamilnadu, India

Date of Birth/Age :

26.12.1956

Date of Appointment :

18.09.2013

DIN No. :

01255764

Other Directorship :

S. No.

CIN/LLPIN

Name of the Company/ LLP

Current designation of the Director/ Designated Partner

Date of appointment at current designation

Original date of appointment

Date of cessation

Company/ LLP Status

Defaulting status

1

U45201TN2002PTC048417

RESURGENT FOUNDATIONS PRIVATE LIMITED

Director

06/02/2002

06/02/2002

30/01/2012

Active

NO

2

U28920TN1996PTC035189

ENMAS ANDRITZ PRIVATE LIMITED

Director

08/07/2003

08/07/2003

22/03/2012

Active

NO

3

U29111TN2005PTC057150

ENMAS BOILERS & PROCESS EQUIPMENT PRIVATE LIMITED

Additional director

31/08/2010

31/08/2010

18/01/2012

Amalgamated

NO

4

U29199TN2004PTC053941

AEROVENTO FAN COMPANY PRIVATE LIMITED

Director

30/09/2011

31/08/2010

05/10/2011

Active

NO

5

U74210TN2003PTC050595

RESURGENT SOFTWARE TECHNOLOGIES PRIVATE LIMITED

Additional director

01/09/2010

01/09/2010

30/07/2014

Active

NO

6

U40105TN2001PTC048068

ENMAS G.B. POWER SYSTEMS PRIVATE LIMITED

Additional director

01/09/2010

01/09/2010

18/01/2012

Active

NO

7

U74200TN2008PTC067754

Valmet Chennai Private Limited

Director

18/09/2013

11/06/2013

-

Active

NO

8

U74210TN2005PTC055254

Valmet Technologies Engineering Services Private Limited

Director

26/09/2014

08/05/2014

-

Amalgamated

NO

 

 

Name :

Olli Sakari Karavirta

Designation :

Director

Address :

Haavistontie 23, Pirkkala, 33960, Finland

Date of Birth/Age :

25.09.1958

Date of Appointment :

21.10.2009

DIN No. :

02166749

Other Directorship :

S. No.

CIN/LLPIN

Name of the Company/ LLP

Current designation of the Director/ Designated Partner

Date of appointment at current designation

Original date of appointment

Date of cessation

Company/ LLP Status

Defaulting status

1

U74200TN2008PTC067754

Valmet Chennai Private Limited

Director

21/10/2009

21/05/2008

-

Active

NO

2

U74210TN2005PTC055254

Valmet Technologies Engineering Services Private Limited

Director

10/10/2013

11/06/2013

-

Amalgamated

NO

3

U29199TN2005PTC098672

VALMET TECHNOLOGIES CO PRIVATE LIMITED

Director

30/09/2014

31/03/2014

-

Amalgamated

NO

 

 

KEY EXECUTIVES

 

Name :

Mr. P. Shantha Kumar

Designation :

Manager

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

As on 30.09.2014

 

Names of Shareholders

No. of Shares

Percentage of Holding

Valmet Power OY, Filand

418380

74.00

Valmet Technologies Engineering Services Private Limited, India

147000

26.00

Total

565380

100.00

 

As on 30.09.2014

 

Category

Percentage

Foreign holdings( Foreign institutional investor(s), Foreign companie(s) Foreign financial institution(s), Non-resident Indian(s) or Overseas Corporate bodies or Others

74.00

Bodies corporate

26.00

Total

100.00

 

 

BUSINESS DETAILS

 

Line of Business :

Trading, Exporting and Importing of Boiler Accessories Like Pulping and Fiber, Chemical Pulping, Chemical Recovery, Lime Kiln, Pulp Drying, Mechanical Pulping etc.

 

 

Products :
  • Pulping and Fiber,
  • Chemical Pulping
  • Chemical Recovery
  • Lime Kiln
  • Pulp Drying
  • Mechanical Pulping etc.

 

 

Brand Names :

Not Available

 

 

Agencies Held :

Not Available

 

 

Exports :

 

Products :

Finished Goods

Countries :
  • Indonesia
  • Thailand

 

 

Imports :

 

Products :

Finished Goods

Countries :
  • Indonesia
  • Thailand
  • Germany etc.

 

 

Terms :

 

Selling :

Cheque

 

 

Purchasing :

Cheque

 

PRODUCTION STATUS : Not Available

 

 

 

GENERAL INFORMATION

 

Suppliers :

Reference :

Not Divulged

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Experience :

Not Divulged

Maximum Limit Dealt :

Not Divulged

 

 

Customers :

Reference :

Not Divulged

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Experience :

Not Divulged

Maximum Limit Dealt :

Not Divulged

 

 

No. of Employees :

200 (Approximately)

 

 

Bankers :

Banker Name

Standard Chartered Bank 

Branch Address

Gurgaon Branch 

Person Name (With Designation)

Not Divulged

Contact Number

91-44-42164659

Name of Account Holder

Not Divulged

Account Number

Not Divulged

Account Since (Date/Year of Account Opening)

Not Divulged

Average Balance Maintained (If Possible)

Not Divulged

Credit Facilities Enjoyed (If any)

Not Divulged

Account Operation

Not Divulged

Remarks (If any)

Not Divulged

 

 

 

Auditors :

 

Name :

S.R. Batliboi and Associates LLP

Chartered Accountants

Address :

6th and 7th Floor "A" Block Tidel Park ( Module 601,701 and 702) No 4,  Rajiv Gandhi, Salai, Chennai – 600113, Tamilnadu, India 

PAN No.:

AABFS3421N

 

 

Memberships :

Not Available

 

 

Collaborators :

Not Available

 

 

Associated Company :

Valmet Technologies Engineering Services Private Limited

 

 

Fellow Subsidiaries :
  • Valmet Power AB ( formerly Metso Power AB, Sweden)
  • Valmet Inc (formerly Metso Power USA,)
  • Valmet Co., Ltd (Formerly Metso Paper (Thailand) Company Limited)
  • Metso Paper AB, Sweden
  • Metso Shared Services, Finland
  • Valmet Technologies Inc (formerly Metso Paper Inc, Finland)
  • Metso Oyj, Finland
  • Metso Minerals India Private Limited
  • Metso Automation India Private Limited
  • Valmet Technologies Co Private Limited (formerly Metso Paper India Private Limited)
  • Valmet Paper Technology (China) Company Limited (formerly Metso Paper China Company Limited)
  • Valmet Oyj

 

 

Holding Company :

Valmet Power Oy, Finland

 

 

CAPITAL STRUCTURE

 

As on 30.09.2014

 

Authorised Capital : Rs. 116.500 Million

 

Issued, Subscribed & Paid-up Capital : Rs. 62.525 Million

 

 

As on 30.09.2014

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

600000

Equity Shares

Rs. 100/- each

Rs. 60.000 Million

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

565380

Equity Shares

Rs. 100/- each

Rs. 56.538 Million

 

 

 

 

 

 

 

 

FINANCIAL DATA

[all figures are in Rupees Million]

 

ABRIDGED BALANCE SHEET

 

SOURCES OF FUNDS

31.03.2014

31.12.2012

31.12.2011

 

 

 

 

I.              EQUITY AND LIABILITIES

 

 

 

(1)Shareholders' Funds

 

 

 

(a) Share Capital

56.538

56.538

56.538

(b) Reserves & Surplus

(36.281)

41.167

227.567

(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)

20.257

97.705

284.105

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

0.000

0.000

0.000

(b) Deferred tax liabilities (Net)

0.000

0.000

0.000

(c) Other long term liabilities

1913.354

583.793

0.000

(d) long-term provisions

10.718

19.650

47.239

Total Non-current Liabilities (3)

1924.072

603.443

47.239

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

0.000

0.000

0.000

(b) Trade payables

246.449

28.616

154.167

(c) Other current liabilities

188.636

229.744

305.473

(d) Short-term provisions

0.000

0.000

11.892

Total Current Liabilities (4)

435.085

258.360

471.532

 

 

 

 

TOTAL

2379.414

959.508

802.876

 

 

 

 

II.          ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

12.222

14.212

17.057

(ii) Intangible Assets

1.435

2.477

1.879

(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)

192.916

0.000

7.981

(d)  Long-term Loan and Advances

16.796

17.029

16.875

(e) Other Non-current assets

90.582

0.000

0.000

Total Non-Current Assets

313.951

33.718

43.792

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

35.393

0.270

0.000

(c) Trade receivables

269.771

184.703

194.659

(d) Cash and cash equivalents

1216.351

236.786

0.289

(e) Short-term loans and advances

0.000

0.000

375.405

(f) Other current assets

543.948

504.031

188.731

Total Current Assets

2065.463

925.790

759.084

 

 

 

 

TOTAL

2379.414

959.508

802.876

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

31.03.2014

31.12.2012

31.12.2011

 

 

 

 

 

TOTAL INCOME                                    

806.689

700.551

1065.462

 

 

 

 

 

 

TOTAL EXPENSES

1155.951

878.970

856.672

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE TAX

(349.262)

(178.419)

199.504

 

 

 

 

 

TAX

(186.673)

7.980

67.230

 

 

 

 

 

 

PROFIT/ (LOSS)  AFTER TAX 

(162.589)

(186.399)

132.274

 

 

 

 

 

 

EARNINGS IN FOREIGN CURRENCY

439.075

447.170

 NA

 

 

 

 

 

 

Earnings / (Loss) Per Share (Rs.)

(287.57)

329.69

233.9559234

 

Expected Sales (2014-2015): Rs. 1200.000 Million

 

The above information has been parted by Mr. P. Shantha Kumar

 

 

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

 

Particulars

 

31.03.2014

31.12.2012

31.12.2011

Current Maturities of Long term debt

 NA

 NA

 NA

Cash generated from operations

 NA

 NA

 NA

 

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2014

31.12.2012

31.12.2011

Net Profit Margin

(PAT / Total Income)

(%)

(20.16)

(26.61)

12.41

 

 

 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)

(15.97)

(18.59)

25.10

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

(17.24)

(1.83)

0.70

 

 

 

 

 

Debt Equity Ratio

(Total Liability/Networth)

 

0.00

0.00

0.00

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

4.75

3.58

1.61

 

 

FINANCIAL ANALYSIS

[all figures are in Rupees Million]

 

DEBT EQUITY RATIO

 

Particular

31.11.2011

31.12.2012

31.03.2014

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Share Capital

56.538

56.538

56.538

Reserves & Surplus

227.567

41.167

(36.281)

Share Application money pending allotment

0.000

0.000

0.000

Net worth

284.105

97.705

20.257

 

 

 

 

long-term borrowings

0.000

0.000

0.000

Short term borrowings

0.000

0.000

0.000

Current Maturities of Long Term Debt

0.000

0.000

0.000

Total borrowings

0.000

0.000

0.000

Debt/Equity ratio

0.000

0.000

0.000

 

 

 

YEAR-ON-YEAR GROWTH

 

Year on Year Growth

31.11.2011

31.12.2012

31.03.2014

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Total Income

1065.462

700.551

806.689

 

 

(34.249)

15.151

 

 

 

NET PROFIT MARGIN

 

Net Profit Margin

31.11.2011

31.12.2012

31.03.2014

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Total Income

1065.462

700.551

806.689

Profit

132.274

(186.399)

(162.589)

 

12.41%

(26.61%)

(20.16%)

 

 

 

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

No

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)

Yes

16

No. of employees

Yes

17

Details of sister concerns

Yes

18

Major suppliers

No

19

Major customers

No

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

Yes

26

Turnover of firm for last three years

Yes

27

Reasons for variation <> 20%

--

28

Estimation for coming financial year

Yes

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

 

NOTE: Registered office of the company has been shifted from to Khivraj Complex New No. 670, Anna Salai Nandanam – 600035 Tamilnadu India the present address w.e.f. 09.07.2008

 

 

INDEX OF CHARGES: No Charges Exist for Company

 

 

FIXED ASSETS

 

  • Furniture and fixtures
  • Vehicles
  • Motor vehicles
  • Office equipment
  • Computer equipments
  • Other equipments
  • Books periodicals

 

CMT REPORT (Corruption, Money Laundering & Terrorism]

 

The Public Notice information has been collected from various sources including but not limited to: The Courts, India Prisons Service, Interpol, etc.

 

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. 63.40

UK Pound

1

Rs. 98.94

Euro

1

Rs. 70.33

 

 

INFORMATION DETAILS

 

Information Gathered by :

KMN

 

 

Analysis Done by :

TRI

 

 

Report Prepared by :

TRU

 

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

3

PAID-UP CAPITAL

1~10

4

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

NO

--LITIGATION

YES/NO

NO

--OTHER ADVERSE INFORMATION

YES/NO

NO

MERIT POINTS

 

 

--SOLE DISTRIBUTORSHIP

YES/NO

NO

--EXPORT ACTIVITIES

YES/NO

YES

--AFFILIATION

YES/NO

YES

--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

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.