MIRA INFORM REPORT
|
Report No. : |
331760 |
|
Report Date : |
11.07.2015 |
IDENTIFICATION DETAILS
|
Name : |
ECMAS RESINS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
7-4-125, Gaganpahad Village, Rajendranagar Mandal, Hyderabad – 500052,
Telangana |
|
Tel No.: |
91-40-24360014 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
10.03.1987 |
|
|
|
|
Com. Reg. No.: |
01-007263 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.15.005 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24110TG1987PTC007263 |
|
|
|
|
IEC No.: |
0989003841 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACE5131F |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
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|
|
|
Line of Business
: |
Manufacturer, Trader, Exporter and Importer of Unsaturated Polyester
Resins. |
|
|
|
|
No. of Employees
: |
30 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (32) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
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|
|
Comments : |
Subject is an established company having moderate track record. For the financial year ended 2014, company has reported decent sales
turnover growth at 43.34% but it has failed to maintained profitability margins
and reported low margins at 0.29%. Rating also takes into consideration company’s moderate financial risk
profile marked by modest net worth and below average debt protection metrics
of the company. However, trade relations are reported as fair. Payments are reported
to be slow but correct. In view of leverage balance sheet profile, the company can be
considered for business dealing 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 – 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) 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 : |
Ms. Sharda |
|
Designation : |
Assistant Manager Account and Finance |
|
Contact No.: |
91-40-24360014 |
|
Date : |
11.07.2015 |
LOCATIONS
|
Registered Office / Factory : |
7-4-125, Gaganpahad Village, Rajendranagar Mandal, Hyderabad – 500052,
Telangana |
|
Tel. No. : |
91-40-24360014 / 15 / 16 / 17 |
|
Fax No. : |
91-40-24360023 |
|
E-Mail : |
|
|
Website : |
|
|
Location: |
Owned |
|
Locality: |
Industrial |
DIRECTORS
As on 30.09.2014
|
Name : |
Mr. Nallamothu Ravindra |
|
Designation : |
Managing Director |
|
Address : |
Plot No. 8-1-684 / B / P / 30 Durga Enclave Road, No.12, Banjara
Hills, Hyderabad – 500034, Telangana, India
|
|
Date of Birth/Age : |
01.07.1962 |
|
Date of Appointment : |
10.03.1987 |
|
DIN No. : |
00097292 |
|
|
|
|
Name : |
Mr. Nallamothu Srinivas |
|
Designation : |
Director |
|
Address : |
Plot No. 29A, Near Balaji Stores Mla Colony Road No. 12, Banjarahills,
Hyderabad – 500034, Telangana, India |
|
Date of Birth/Age : |
28.08.1964 |
|
Date of Appointment : |
10.03.1987 |
|
DIN No. : |
00097329 |
KEY EXECUTIVES
|
Name : |
Ms. Sharda |
|
Designation : |
Assistant Account Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2014
|
Names of Shareholders |
No. of Shares |
|
N. Srinivas |
8920 |
|
N. Ravindra |
27980 |
|
N. Rajendra |
25242 |
|
N. Vijaya Rajendra |
4444 |
|
N. Divya Rajendra |
9000 |
|
N. Rama Devi |
22978 |
|
N. Anuradha |
5656 |
|
G. Ragavendra Choudary |
4000 |
|
G. Vasanthi |
10000 |
|
M. Vani |
1000 |
|
M. Sneha |
18000 |
|
T. Balachandra |
12494 |
|
T. Nishant Chandra |
39 |
|
Sudeepthi |
44 |
|
T. Jenny |
250 |
|
|
|
|
Total |
150047 |
As on 30.09.2014
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
Directors or relatives of Directors |
91.45 |
|
Other top fifty shareholders |
8.55 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer, Trader, Exporter and Importer of Unsaturated Polyester
Resins. |
|
|
|
|
Products : |
Not Available |
|
|
|
|
Brand Names : |
Not Available |
|
|
|
|
Agencies Held : |
Not Available |
|
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Exports : |
|
|
Products : |
Unsaturated Polyester Resins |
|
Countries : |
Bangladesh |
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|
|
|
Imports : |
|
|
Products : |
Raw Material |
|
Countries : |
|
|
|
|
|
Terms : |
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|
Selling : |
Cash and Credit |
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|
|
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Purchasing : |
Cash and Credit |
PRODUCTION STATUS –
NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
End Users
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No. of Employees : |
30 (Approximately) |
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Bankers : |
v
State Bank of Hyderabad, 1-1-230/11/2, RTC “X” Road, Chikkadpally
Branch, Hyderabad - 500064, Andhra Pradesh, India |
||||||||||||||||||||||
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|
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Facilities : |
NOTE: Secured Loans Working capital facilities sanctioned by Axis Bank Limited, Hyderabad
are secured by first charge on all current assets both present and future.
These are future secured by way of third party collateral security and also
guaranteed by the directors of the company in their personal capacity.
Average rate of interest is 13.5% |
|
Auditors : |
|
|
Name : |
Sampath and Ramesh Chartered Accountants |
|
Address : |
101A, Sidhartha Harini Apartments, Besides DBR Mills, Lower Tank Bund Road, Hyderabad – 500080, Andhra Pradesh, India |
|
Tel. No. : |
91-40-65585906 / 27612843 |
|
Telefax No. : |
91-40-27617319 |
|
E-Mail : |
|
|
PAN
No. : |
AAJFS7005C |
|
|
|
|
Memberships : |
-- |
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|
|
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Collaborators : |
-- |
|
|
|
|
Associates / Subsidiaries : |
Ecmas Construction Chemicals Private Limited |
CAPITAL STRUCTURE
As on 30.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
224000 |
Equity Shares |
Rs.100/- each |
Rs.22.400 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
150047 |
Equity Shares |
Rs.100/- each |
Rs.15.005 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 |
15.005 |
15.005 |
15.005 |
|
(b) Reserves & Surplus |
22.743 |
20.456 |
19.279 |
|
(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) |
37.748 |
35.461 |
34.284 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
49.483 |
39.768 |
41.893 |
|
(b) Deferred tax liabilities (Net) |
(0.145) |
(0.218) |
(0.192) |
|
(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) |
49.338 |
39.550 |
41.701 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
72.168 |
76.690 |
58.356 |
|
(b) Trade
payables |
63.019 |
41.538 |
60.672 |
|
(c) Other
current liabilities |
2.486 |
1.317 |
1.872 |
|
(d) Short-term
provisions |
1.126 |
0.749 |
0.687 |
|
Total Current
Liabilities (4) |
138.799 |
120.294 |
121.587 |
|
|
|
|
|
|
TOTAL |
225.885 |
195.305 |
197.572 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
8.185 |
9.649 |
10.773 |
|
(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) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
0.000 |
0.000 |
0.000 |
|
(e) Other
Non-current assets |
1.862 |
1.599 |
1.953 |
|
Total Non-Current
Assets |
10.047 |
11.248 |
12.726 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
29.748 |
27.025 |
25.300 |
|
(c) Trade
receivables |
157.986 |
132.397 |
134.921 |
|
(d) Cash
and cash equivalents |
6.295 |
4.645 |
7.373 |
|
(e)
Short-term loans and advances |
21.809 |
19.990 |
17.252 |
|
(f) Other
current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
215.838 |
184.057 |
184.846 |
|
|
|
|
|
|
TOTAL |
225.885 |
195.305 |
197.572 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
773.535 |
522.631 |
516.753 |
|
|
|
Other Income |
2.727 |
0.553 |
0.339 |
|
|
|
TOTAL |
776.262 |
523.184 |
517.092 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
329.182 |
319.414 |
340.079 |
|
|
|
Purchases of Stock-in-Trade |
405.494 |
164.471 |
143.576 |
|
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
(1.640) |
1.849 |
(4.656) |
|
|
|
Employees benefits expense |
9.798 |
9.393 |
9.062 |
|
|
|
Other expenses |
15.755 |
13.674 |
14.655 |
|
|
|
TOTAL |
758.589 |
508.801 |
502.716 |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
17.673 |
14.383 |
14.376 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
12.963 |
10.905 |
10.683 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
4.710 |
3.478 |
3.693 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
1.410 |
1.750 |
2.089 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
3.300 |
1.728 |
1.604 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
1.013 |
0.551 |
0.496 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
2.287 |
1.177 |
1.108 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
15.24 |
7.85 |
7.39 |
|
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 (Rs.
In Million) |
31.03.2013 (Rs.
In Million) |
31.03.2012 (Rs.
In Million) |
|
Current Maturities of Long term debt |
NA |
NA |
NA |
|
Cash generated from operations |
2.842 |
10.949 |
(5.925) |
|
Cash inflow/outflow from operating activities |
2.266 |
10.373 |
(6.799) |
|
|
|
|
|
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT/Sales) |
(%) |
0.30 |
0.23 |
0.21 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/ Sales) |
(%) |
2.28 |
2.75 |
2.78 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.46 |
0.88 |
0.81 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.09 |
0.05 |
0.05 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability /Networth) |
|
3.22 |
3.28 |
2.92 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.56 |
1.53 |
1.52 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Share Capital |
15.005 |
15.005 |
15.005 |
|
Reserves & Surplus |
19.279 |
20.456 |
22.743 |
|
Net worth |
34.284 |
35.461 |
37.748 |
|
|
|
|
|
|
long-term borrowings |
41.893 |
39.768 |
49.483 |
|
Short term borrowings |
58.356 |
76.690 |
72.168 |
|
Total borrowings |
100.249 |
116.458 |
121.651 |
|
Debt/Equity ratio |
2.924 |
3.284 |
3.223 |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Sales |
516.753 |
522.631 |
773.535 |
|
|
|
1.137 |
48.008 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Sales |
516.753 |
522.631 |
773.535 |
|
Profit |
1.108 |
1.177 |
2.287 |
|
|
0.21% |
0.23% |
0.30% |
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 |
No |
|
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 |
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 |
No |
|
33 |
Market information |
No |
|
34 |
Payments terms |
Yes |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
NOTE
The registered address of the company has been shifted from 3-6-260/10,
Madhuri Mansion Himayath Nagar Hyderabad – 500029, Andhra Pradesh, India
UNSECURED LOAN
|
PARTICULAR |
31.03.2014 (Rs.
In Millions) |
31.03.2013 (Rs.
In Millions) |
|
LONG TERM BORROWINGS |
|
|
|
Financial Institution |
3.488 |
2.794 |
|
Others |
45.995 |
36.974 |
|
|
|
|
|
Total |
49.483 |
39.768 |
NOTE (Unsecured Loan):
a) Unsecured loan amount 2.000 taken from HDFC Bank, starting from October, 2013 is repayable in 36 installments, rate of interest 16%
b) Unsecured loan amount 2.500 taken from Tata Capital Limited, starting from August, 2013 is repayable in 24 installments, arte of interest 18.29%
c) An amount of Rs. 45.995 towards unsecured loans taken from directors, friends and relatives.
FIXED ASSETS
v Land
v Factory building
v Office Building
v Plant and Machinery
v Pollution control equipments
v Tools and equipments
v Furniture and Fixture
v Computers
v Vehicles
v Car (Ford)
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.63.38 |
|
|
1 |
Rs.97.65 |
|
Euro |
1 |
Rs.70.43 |
INFORMATION DETAILS
|
Information
Gathered by : |
NYA |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
ANK |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
-- PROFITABILITY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
4 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
32 |
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.