MIRA INFORM REPORT

 

 

Report No. :

332086

Report Date :

16.07.2015

 

IDENTIFICATION DETAILS

 

Name :

JIWAN BOOKS INTERNATIONAL PRIVATE LIMITED

 

 

Registered Office :

4809-11,24, Ansari Road, Darya Ganj, New Delhi-110002

Tel. No.:

91-11-46229000

 

 

Country :

India

 

 

Financials (as on) :

31.03.2014

 

 

Date of Incorporation :

28.06.2001

 

 

Com. Reg. No.:

55-111456

 

 

Capital Investment / Paid-up Capital :

Rs. 10.000 Million

 

 

CIN No.:

[Company Identification No.]

U22190DL2001PTC111456

 

 

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 :

Publishers, Printers, Distributors, and Exporter of Educational Books.

 

 

No. of Employees :

70 (Approximately)

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba (43)

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Maximum Credit Limit :

USD 50000

 

 

Status :

Satisfactory

 

 

Payment Behaviour :

Usually Correct

 

 

Litigation :

Clear

 

 

Comments :

Subject is established company having satisfactory track record. It is engaged into book publishing, printers, distributors and exporters.

 

During the FY-2014, the company has reported marginal decline in its sales turnover, but company has achieved healthy operating profitability. The ratings also reflect company’s sound financial risk profile, moderate net worth and average debt protection metrics.

 

The rating take into account of established track record of its business operations and fair experience of promoters in the publishing industry.

 

Trade relations are fair. Business is active. Payments are reported to be usually correct.

 

The company can be considered for business dealings at 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

 

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 (GENERAL DETAILS)

 

Name :

Ms. Nidhi

Designation :

Chief Editor

Contact No.:

91-9312341234

Date :

15.07.2015

 

 

LOCATIONS

 

Registered/ Head Office:

4809-11,24, Ansari Road, Darya Ganj, New Delhi-110002, India

Tel. No.:

91-11-46229000

Mobile No.:

91-9654003003 (Mr. Bharat)

Fax No.:

Not Available

E-Mail :

vimal@jphbooks.in

info@jiwanbooks.in

Website :

http://jiwanbooks.com

http://jiwanbooks.in

 

 

Plant :

C-170, Nariana Industrial Area Phase-1, New Delhi-110028, India

 

 

DIRECTORS

 

AS ON: 29.09.2014

 

Name :

Mr. Ushnak Rai Mediratta

Designation :

Director

Address :

A-51, Kirti Nagar, New Delhi -110015

Date of Birth/Age :

04.03.1944

Date of Appointment :

28.06.2001

DIN No.:

00641207

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

U22110DL1987PTC027794

JIWAN PUBLISHING HOUSE PRIVATE LIMITED

Director

29/04/1987

29/04/1987

-

Active

NO

2

U22190DL2001PTC111456

JIWAN BOOKS INTERNATIONAL PRIVATE LIMITED

Director

28/06/2001

28/06/2001

-

Active

NO

 

 

Name :

Mr. Bharat Rai Mediratta

Designation :

Director

Address :

A-11, 2nd Floor, Kirti NAGAR, NEW DELHI -110015

Date of Birth/Age :

27.08.1974

Date of Appointment :

28.06.2001

DIN No.:

00641132

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

U22110DL1987PTC027794

JIWAN PUBLISHING HOUSE PRIVATE LIMITED

Director

28/07/1993

28/07/1993

28/05/2007

Active

NO

2

U22190DL2001PTC111456

JIWAN BOOKS INTERNATIONAL PRIVATE LIMITED

Director

28/06/2001

28/06/2001

-

Active

NO

 

 

Name :

Mrs. Puja Mediratta

Designation :

Director

Address :

A-11, 2nd Floor, Kirti Nagar, New Delhi -110015

Date of Birth/Age :

12.02.1976

Date of Appointment :

10.02.2007

DIN No.:

01125116

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

U22110DL1987PTC027794

JIWAN PUBLISHING HOUSE PRIVATE LIMITED

Director

31/07/1997

31/07/1997

28/05/2007

Active

NO

2

U22190DL2001PTC111456

JIWAN BOOKS INTERNATIONAL PRIVATE LIMITED

Director

10/02/2007

10/02/2007

-

Active

NO

 

 

KEY EXECUTIVES

 

Name :

Ms. Nidhi

Designation :

Chief Editor

 

 

 

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

AS ON: 29.09.2014

 

Names of Shareholders

 

No. of Shares

Ushnak Rai Mediratta

 

251700

Bharat Rai Mediratta

 

647000

Urmil Mediratta

 

92200

Puja Mediratta

 

9100

 

 

 

Total

 

1000000

 

Equity Share Break up (Percentage of Total Equity)

 

AS ON: 29.09.2014

 

Category

Percentage

Directors or relatives of Directors

100.00

Total

100.00

 

 

 

BUSINESS DETAILS

 

Line of Business :

Publishers, Printers, Distributors, and Exporter of Educational Books.

 

 

Products :

Not Divulged

 

 

Brand Names :

Not Available

 

 

Agencies Held :

Not Available

 

 

Exports :

Not Divulged

 

 

Imports :

Not Divulged

 

 

Terms :

 

Selling :

Cash and Credit

 

 

Purchasing :

Cash and Credit

 

 

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

Maximum Limit Dealt :

Not Divulged

Experience :

Not Divulged

Remark:

Not Divulged

 

 

Customers :

Wholesalers, Retailers and End Users

 

Reference :

Not Divulged

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Maximum Limit Dealt :

Not Divulged

Experience :

Not Divulged

Remark:

Not Divulged

 

 

No. of Employees :

70 (Approximately)

 

 

Bankers :

Banker Name

Canara Bank

Branch Address

Raja Garden, New Delhi-110015

Person Name (With Designation)

Not Divulged

Contact Number

91-11-25971079 (Ringing)

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

 

 

Facilities :

(Rs. In Million)

SECURED LOAN

As on

31.03.2014

As on

31.03.2013

LONG TERM BORROWING

 

 

Canara Bank

0.000

0.010

HDFC Bank

0.419

0.169

Axis Bank

0.463

0.965

SHORT TERM BORROWING

 

 

Cash Credit with Canara Bank

17.452

23.541

 

 

 

Total

18.334

24.685

NOTE:

 

LONG TERMS BORROWINGS:

 

All the above loans are secured against the hypothecation of vehicles and are repayable in monthly equated.

 

SHORT TERM BORROWINGS:

 

This cash credit with Canara Bank is repayable on demand and carries interest at floating rate linked to the basic Rates of the respective Bank. It is secured against the hypothecation of stocks and Books debts.

 

Auditors :

 

Name :

P. K. Chadha and Company

Chartered Accountants

Address :

B-76, Sector-14, Noida, Gautam Budh Nagar, Noida-201301, Uttar Pradesh, India

PAN No.:

AACFP7915R

 

 

Memberships :

Not Available

 

 

Collaborators :

Not Available

 

 

Entities in which Directors have Significant Influence or Control (Associate Enterprise)
  • Jiwan Publishing House Private Limited
  • Bharat Enterprises
  • Mediratta Book Depot

 

 

CAPITAL STRUCTURE

 

AS ON: 31.03.2014

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

2000000

Equity Shares

Rs.10/- each

Rs. 20.000 Million

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

1000000

Equity Shares

Rs.10/- each

Rs. 10.000 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

10.000

10.000

10.000

(b) Reserves & Surplus

9.194

7.884

6.670

(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)

19.194

17.884

16.670

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

0.882

1.144

1.106

(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)

0.882

1.144

1.106

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

17.452

23.541

22.492

(b) Trade payables

57.514

56.893

46.087

(c) Other current liabilities

27.992

9.886

7.506

(d) Short-term provisions

0.674

0.568

0.531

Total Current Liabilities (4)

103.632

90.888

76.616

 

 

 

 

TOTAL

123.708

109.916

94.392

 

 

 

 

II.          ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

12.758

14.914

15.262

(ii) Intangible Assets

0.552

0.036

0.061

(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)

0.544

0.514

0.400

(d)  Long-term Loan and Advances

0.150

0.097

0.097

(e) Other Non-current assets

0.000

0.000

 

Total Non-Current Assets

14.004

15.561

15.820

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

4.552

4.790

6.491

(c) Trade receivables

101.624

88.080

69.301

(d) Cash and cash equivalents

1.109

0.828

1.457

(e) Short-term loans and advances

2.419

0.657

1.323

(f) Other current assets

0.000

0.000

0.000

Total Current Assets

109.704

94.355

78.572

 

 

 

 

TOTAL

123.708

109.916

94.392

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

31.03.2014

31.03.2013

31.03.2012

 

SALES

 

 

 

 

Revenue from Operations

96.676

106.852

103.554

 

Other Income

0.000

0.000 

0.349

 

TOTAL (A)

96.676

106.852

103.903

 

 

 

 

 

Less:

EXPENSES

 

 

 

 

Raw Materials and Books Purchase

57.420

70.062

67.251

 

Manufacturing Expenses

16.042

12.995

11.416

 

Changes in inventories of finished goods, work-in-progress and Stock-in-Trade

0.238

1.702

3.593

 

Employees benefits expense

6.699

5.684

5.290

 

Other expenses

9.189

9.039

8.456

 

TOTAL (B)

89.588

99.482

96.006

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B)   (C)

7.088

7.370

7.897

 

 

 

 

 

Less:

FINANCIAL EXPENSES (D)

2.070

2.277

2.993

 

 

 

 

 

 

PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D)                               (E)

5.018

5.093

4.904

 

 

 

 

 

Less:

DEPRECIATION/ AMORTISATION (F)

2.819

3.265

3.187

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE TAX (E-F)                (G)

2.199

1.828

1.717

 

 

 

 

Less

TAX (H)

0.646

0.454

0.449

 

 

 

 

 

 

PROFIT/ (LOSS)  AFTER TAX  (G-H)                  (I)

1.553

1.374

1.268

 

 

 

 

 

 

Earnings / (Loss) Per Share (Rs.)

1.56

1.37

 NA

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

NA

NA

NA

 

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2014

31.03.2013

31.03.2012

Net Profit Margin

(PAT / Sales)

(%)

1.61

1.29

1.22

 

 

 

 

 

Operating Profit Margin

(PBIDT/Sales)

(%)

7.33

6.90

7.63

 

 

 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)

1.79

1.67

1.83

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

0.11

0.10

0.10

 

 

 

 

 

Debt Equity Ratio

(Total Debt /Networth)

 

0.96

1.38

1.42

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

1.06

1.04

1.03

 

 

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

10.000

10.000

10.000

Reserves & Surplus

6.670

7.884

9.194

Net worth

16.670

17.884

19.194

 

 

 

 

long-term borrowings

1.106

1.144

0.882

Short term borrowings

22.492

23.541

17.452

Total borrowings

23.598

24.685

18.334

Debt/Equity ratio

1.416

1.380

0.955

 

 

 

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)

Revenue from Operations

103.554

106.852

96.676

 

 

3.185

(9.523)

 

 

 

NET PROFIT MARGIN

 

Net Profit Margin

31.03.2012

31.03.2013

31.03.2014

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Revenue from Operations

103.554

106.852

96.676

Profit

1.268

1.374

1.553

 

1.22%

1.29%

1.61%

 

 

 

 

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

Yes

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

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

 

 

NOTE: Registered office of the company has been shifted from WZ-56, Sharda Puri, Ramesh Nagar, New Delhi- 110015, India to the present address w. e. f. 01.01.2007

 

 

INDEX OF CHARGES:

 

S. No.

Charge ID

Date of Charge Creation/Modification

Charge amount secured

Charge Holder

Address

Service Request Number (SRN)

1

10155234

30/04/2009

2,000,000.00

Canara Bank

RAJA GARDEN, NEW DELHI, DELHI - 110015, INDIA

A61497608

2

10108381

15/04/2008

2,500,000.00

Canara Bank

RAJA GARDEN, NEW DELHI, DELHI - 110015, INDIA

A40757700

3

10032257

22/12/2006

2,500,000.00

Canara Bank

RAJA GARDEN, NEW DELHI, DELHI - 110015, INDIA

A09080888

4

10025226

20/10/2006

3,800,000.00

Canara Bank

RAJA GARDEN, NEW DELHI, DELHI - 110015, INDIA

A06221337

5

90050253

13/12/2003

1,360,000.00

CANARA BANK

RAJA GARDEN, NEW DELHI, DELHI, INDIA

-

6

90049672

05/03/2003

700,000.00

CANARA BANK

RAJA GARDEN, NEW DELHI, DELHI, INDIA

-

7

90049651

27/02/2003

340,000.00

CANARA BANK

RAJA GARDEN, NEW DELHI, DELHI, INDIA

-

8

90049602

05/02/2003

24,750.00

CANARA BANK

RAJA GARDEN, NEW DELHI, DELHI, INDIA

-

9

90049531

16/02/2012 *

22,500,000.00

Canara Bank

RAJA GARDEN, NEW DELHI, DELHI - 110015, INDIA

B34100354

10

90049347

07/10/2002

500,000.00

CANARA BANK

RAJA GARDEN, NEW DELHI, DELHI, INDIA

-

 

 

 

FIXED ASSETS:

 

 

 

 

 

 

 

 

 

 

 

 

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. 63.38

UK Pound

1

Rs. 99.13

Euro

1

Rs. 69.69

 

 

INFORMATION DETAILS

 

Information Gathered by :

SUP

 

 

Analysis Done by :

KAS

 

 

Report Prepared by :

THR

 

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

5

PAID-UP CAPITAL

1~10

5

OPERATING SCALE

1~10

4

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

4

--PROFITABILITY

1~10

5

--LIQUIDITY

1~10

5

--LEVERAGE

1~10

5

--RESERVES

1~10

5

--CREDIT LINES

1~10

5

--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

YES

--LISTED

YES/NO

NO

--OTHER MERIT FACTORS

YES/NO

YES

DEFAULTER

 

 

--RBI

YES/NO

NO

--EPF

YES/NO

NO

TOTAL

 

43

 

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.