MIRA INFORM REPORT
|
Report No. : |
330862 |
|
Report Date : |
09.07.2015 |
IDENTIFICATION DETAILS
|
Name : |
EVALUESERVE .COM PRIVATE LIMITED (w.e.f. 22.11.2014) |
|
|
|
|
Formerly Known
As : |
EVALUE SERVE COM PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
A-47, Lower Ground Floor, Hauz Khas, New Delhi - 110016 |
|
Tel. No.: |
91-124-4154000 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of Incorporation
: |
07.12.2000 |
|
|
|
|
Com. Reg. No.: |
108769 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.10.490 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U00000DL2000PTC108769 |
|
|
|
|
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
: |
Subject is engaged in the business of providing knowledge process
outsourcing (KPO) services (Intellectual Property, Market Research, Financial
and Investment Research and Data Analytics Services). |
|
|
|
|
No. of Employees
: |
Information declined by the management. |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (49) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 4800000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a wholly owned subsidiary of Evalueserve Limited (Bermuda). It is an established private limited company incorporated in the year
2000, having satisfactory track. Rating takes into consideration sound financial risk profile marked by
strong network base and debt free capital structure of the company. Overall financial condition of the company seems to be decent. Trade relations are fair. Business is active. Payment terms are
reported to be usually correct. In view of strong support from its Holding company, the subject can be
considered for business dealings 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.
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. Shaleen |
|
Designation : |
Support Officer |
|
Contact No.: |
91-124-4154000 |
|
Date : |
07.07.2015 |
LOCATIONS
|
Registered Office : |
A-47, Lower Ground Floor, Hauz Khas, New Delhi – 110016, India |
|
Tel. No.: |
Not Available |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Branch Office 1 : |
Tower A, 2nd Floor, Tower B, 3rd & 4th Floor, Unitech World - Cyber Park Jharsa, Sector-39, Gurgaon – 122002, Haryana, India |
|
Tel. No.: |
91-124-415 4000 |
|
Fax No.: |
91-124-406 3430 |
|
|
|
|
Branch Office 2 : |
1st Floor, Block No: B7- North Wing, Nirlon Knowledge Park, Off Western Express Highway, Goregaon (East), Mumbai-400063, Maharashtra, India |
|
Tel. No.: |
91-22-3327 5000 |
DIRECTORS
AS ON 30.09.2014
|
Name : |
Marc Ulrich Vollenweider |
|
Designation : |
Director |
|
Address : |
Margaritenweg 209, A-9711, Paternion, NA, Austria |
|
Date of Birth/Age : |
11.03.1965 |
|
Date of Appointment : |
07.12.2000 |
|
DIN No.: |
00419613 |
|
|
|
|
Name : |
Ashish Gupta |
|
Designation : |
Director |
|
Address : |
Flat No. 906, Block-21, Heritage City, Gurgaon - 122002, Haryana, India |
|
Date of Birth/Age : |
08.03.1970 |
|
Date of Appointment : |
07.12.2000 |
|
DIN No.: |
00419550 |
|
|
|
|
Name : |
Sanjoy Roy Choudhury |
|
Designation : |
Director |
|
Address : |
I-1726, Chittaranjan Park, New Delhi - 110019, India |
|
Date of Birth/Age : |
23.10.1973 |
|
Date of Appointment : |
12.12.2010 |
|
DIN No.: |
03367381 |
|
|
|
|
Name : |
Deepak Kumar Batra |
|
Designation : |
Director |
|
Address : |
151, Plot No. 6, Aakriti Apts, Sector-4, Dwarka, New Delhi, 110075, India |
|
Date of Birth/Age : |
11.10.1973 |
|
Date of Appointment : |
14.01.2013 |
|
DIN No.: |
06471440 |
KEY EXECUTIVES
|
Name : |
Mr. Shaleen |
|
Designation : |
Support Officer |
|
|
|
|
Name : |
RMG and Associates |
|
Designation : |
Company Secretaries |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2014
|
Names of Shareholders |
|
No. of Shares |
|
Evalueserve Limited, Bermuda |
|
1049014 |
|
Ashish Gupta |
|
13 |
|
Indumati Aggarwal |
|
13 |
|
|
|
|
|
Total |
|
1049040 |
Equity Share Break up (Percentage of Total Equity)
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 |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in the business of providing knowledge process outsourcing
(KPO) services (Intellectual Property, Market Research, Financial and
Investment Research and Data Analytics Services). |
|
|
|
|
Services : |
Knowledge process outsourcing (KPO) services (Intellectual Property,
Market Research, Financial and Investment Research and Data Analytics
Services) |
|
|
|
|
Brand Names : |
Not Divulged |
|
|
|
|
Agencies Held : |
Not Divulged |
|
|
|
|
Exports : |
Not Divulged |
|
|
|
|
Imports : |
Not Divulged |
|
|
|
|
Terms : |
Not Divulged |
PRODUCTION STATUS : NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Customers : |
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
No. of Employees : |
Information declined by the management. |
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Bankers : |
|
|
Auditors : |
|
|
Name : |
Walker Chandiok and Company LLP Chartered Accountants |
|
Address : |
L 41, Connaught Circus, New Delhi – 110001, India |
|
PAN No.: |
AAAFW4298E |
|
|
|
|
Memberships : |
--- |
|
|
|
|
Collaborators : |
-- |
|
|
|
|
Holding Company : |
Evalueserve Limited, Bermuda |
|
|
|
|
Fellow Subsidiary : |
|
CAPITAL STRUCTURE
AS ON 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1,100,000 |
Equity Shares |
Rs.10/- each |
Rs.11.000 Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1,049,040 |
Equity Shares |
Rs.10/- each |
Rs.10.490 Million |
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 |
|
|
|
|
(a) Share Capital |
10.490 |
10.490 |
7.868 |
|
(b) Reserves &
Surplus |
1660.151 |
1421.242 |
1209.365 |
|
(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) |
1670.641 |
1431.732 |
1217.233 |
|
|
|
|
|
|
(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 |
26.444 |
20.571 |
52.485 |
|
(d) long-term provisions |
92.114 |
71.379 |
56.125 |
|
Total Non-current
Liabilities (3) |
118.558 |
91.950 |
108.610 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade payables |
46.696 |
26.317 |
32.766 |
|
(c) Other current
liabilities |
79.933 |
88.554 |
51.883 |
|
(d) Short-term provisions |
4.566 |
2.423 |
1.843 |
|
Total Current Liabilities
(4) |
131.195 |
117.294 |
86.492 |
|
|
|
|
|
|
TOTAL |
1920.394 |
1640.976 |
1412.335 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
95.647 |
76.791 |
42.193 |
|
(ii) Intangible Assets |
52.991 |
31.836 |
20.958 |
|
(iii) Capital
work-in-progress |
87.451 |
5.987 |
2.782 |
|
(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) |
52.115 |
59.554 |
57.703 |
|
(d) Long-term Loan and Advances |
229.908 |
187.044 |
164.178 |
|
(e) Other Non-current
assets |
13.806 |
183.097 |
67.776 |
|
Total Non-Current Assets |
531.918 |
544.309 |
355.590 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
0.000 |
0.000 |
0.000 |
|
(c) Trade receivables |
695.827 |
286.478 |
342.993 |
|
(d) Cash and cash
equivalents |
607.828 |
732.322 |
611.073 |
|
(e) Short-term loans and
advances |
45.375 |
51.306 |
77.028 |
|
(f) Other current assets |
39.446 |
26.561 |
25.651 |
|
Total Current Assets |
1388.476 |
1096.667 |
1056.745 |
|
|
|
|
|
|
TOTAL |
1920.394 |
1640.976 |
1412.335 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Income |
NA |
NA |
NA |
|
|
Other Income |
NA |
NA |
NA |
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
326.667 |
323.177 |
334.228 |
|
|
|
|
|
|
|
Less |
TAX |
113.955 |
105.051 |
113.013 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
212.712 |
218.126 |
221.215 |
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’ BALANCE
BROUGHT FORWARD |
1447.439 |
1231.936 |
1010.721 |
|
|
|
|
|
|
|
Add |
Bonus Shares Issued
during the year |
0.000 |
(2.623) |
0.000 |
|
|
|
|
|
|
|
|
Balance Carried to the
B/S |
1660.151 |
1447.439 |
1231.936 |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
1952.764 |
1589.949 |
1383.775 |
|
|
TOTAL EARNINGS |
1952.764 |
1589.949 |
1383.775 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Capital Goods |
42.579 |
38.365 |
37.566 |
|
|
TOTAL IMPORTS |
42.579 |
38.365 |
37.566 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (Rs.) |
202.77 |
207.93 |
--- |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current Maturities of Long term debt |
NA |
NA |
NA |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net cash flow from (used in) operations |
(54.114) |
342.688 |
270.634 |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Return on Total Assets (PBT/Total Assets} |
(%) |
18.34 |
20.51 |
24.72 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.20 |
0.23 |
0.27 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
10.58 |
9.35 |
12.22 |
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 |
7.868 |
10.490 |
10.490 |
|
Reserves & Surplus |
1209.365 |
1421.242 |
1660.151 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net worth |
1217.233 |
1431.732 |
1670.641 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Total borrowings |
0.000 |
0.000 |
0.000 |
|
Debt/Equity ratio |
0.000 |
0.000 |
0.000 |
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) |
No |
|
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 |
No |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
Yes |
|
26 |
Turnover of firm for last three years |
No |
|
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 |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
CONTINGENT LIABILITIES
NOT PROVIDED FOR IN RESPECT OF
|
PARTICULARS |
31.03.2014 (Rs.
in Million) |
31.03.2013 (Rs.
in Million) |
|
Demand against the company not acknowledged as liability |
|
|
|
Transfer pricing cases pending against the Company for: |
|
|
|
Assessment year 2006-07* |
109.851 |
109.851 |
|
Assessment year 2008-09** |
46.841 |
46.841 |
|
Assessment year 2010-11*** |
93.914 |
0.000 |
|
Service tax cases in relation to disallowance of refund claim |
|
|
|
2007-2008 (pending with Commissioner Appeals) |
0.000 |
0.854 |
|
2008-2009 (pending with Adjudicating Authority) |
0.000 |
2.407 |
|
Total |
250.606 |
159.953 |
|
TRANSFER PRICING
CASES * Transfer pricing case for the assessment year ended March 31, 2007 is pending with the Income Tax appellate Tribunal (ITAT) ** Transfer pricing case for the assessment year ended March 31, 2008 is pending with the Income Tax appellate Tribunal (ITAT) *** Transfer pricing case for the assessment year ended March 31, 2011 is pending with the Dispute Resolution Panel |
||
COMPANY OVERVIEW
The company is a wholly owned subsidiary of Evalueserve Limited. (Bermuda) providing Knowledge Process Outsourcing (KPO) Services (Intellectual Property, Market Research, Financial and Investment Research and Data Analytics Services) to its clients. The Company has been set up under the Software Technology Park of India as per the Guidelines issued by the Government of India.
INDEX OF CHARGES : NO
CHARGES EXIST FOR COMPANY
RESERVES AND SURPLUS
The directors propose to carry an amount of Rs. 212.712 Million being the profit for the current year to the Balance Sheet as at 31st March, 2014.
FIXED ASSETS
- Plant and equipment
- Furniture and fixtures
- Office equipment
- Leasehold improvements
- Computer software
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 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.63.57 |
|
|
1 |
Rs.98.27 |
|
Euro |
1 |
Rs.69.93 |
INFORMATION DETAILS
|
Information
Gathered by : |
KMN |
|
|
|
|
Analysis Done by
: |
KIN |
|
|
|
|
Report Prepared
by : |
SNT |
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 |
7 |
|
--PROFITABILITY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
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 |
|
49 |
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.