MIRA INFORM REPORT
|
Report No. : |
332562 |
|
Report Date : |
20.07.2015 |
IDENTIFICATION DETAILS
|
Name : |
NAMAKKAL TRANSPORT CARRIERS PRIVATE LIMITED |
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|
|
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Registered
Office : |
New No.97 (Old No.47), Linghi Chetty Street , Chennai - 600001, Tamil Nadu |
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Tel. No.: |
91-44-66888777 |
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|
Country : |
India |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
04.01.2001 |
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Com. Reg. No.: |
18-046404 |
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Capital
Investment / Paid-up Capital : |
Rs.64.950 Million |
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|
|
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CIN No.: [Company Identification
No.] |
U60231TN2001PTC046404 |
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IEC No.: |
Not Available |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
AABCN4180E |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Subject is engaged in logistics services and freight forwarding. |
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No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (46) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 2800000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company incorporated during the year 2001.
It has a satisfactory track record. Management has seen a continuous decline in its sales turnover which
has resulted to dip in profits whereas it has average profitability margin of
3.0% during the financial year 2014. However, the company possesses healthy financial risk profile marked
by its adequate networth position and favourable gap between trade payables
and receivables. Trade relations are reported as fair. Business is active. Payments
terms are reported as usually correct. In view of good liquidity profile, 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
|
Rating Agency Name |
CARE |
|
Rating |
Long term bank loan
facilities = BB |
|
Rating Explanation |
Inadequate credit
quality and high credit risk. |
|
Date |
November 13, 2014 |
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.
LOCATIONS
|
Registered Office : |
New No.97 (Old No.47), Linghi Chetty Street , Chennai - 600001, Tamilnadu, India |
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Tel. No.: |
Not Available |
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Fax No.: |
Not Available |
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E-Mail : |
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Website : |
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Corporate Office : |
"Parade View" 3rd and 4th Floor No: 21, Rukmani Lakshmipathy Road, Egmore, Chennai – 600008, Tamil Nadu, India |
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Tel. No.: |
91-44-6688 8777 |
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Fax No.: |
91-44-6688 8777 |
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E-Mail : |
DIRECTORS
As on 25.09.2014
|
Name : |
Mr. Kandasamy Chandramohan |
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Designation : |
Managing Director |
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Address : |
Flat No. 507, 5th Floor No. 42, Perambur High Road, Perambur, Chennai - 600013, Tamilnadu, India |
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Date of Appointment : |
04.01.2001 |
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DIN No.: |
01493103 |
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Other Directorship :
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Name : |
Mr. N. Thillaiarasan |
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Designation : |
Director |
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Address : |
Flat-507,Priemier Graha, Salakshmi Apartment, 5th Floor, No.42/A57, Perambur High Road, Chennai - 600012, Tamilnadu, India |
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Date of Appointment : |
04.01.2001 |
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DIN No.: |
01562937 |
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Other Directorship :
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Name : |
Mr. Raaja Sundaram |
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Designation : |
Director |
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Address : |
Royal Park, No.52, V.V.Koil Street, Chinmaya Nagar, Chennai - 600111, Tamilnadu, India |
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Date of Appointment : |
04.01.2001 |
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DIN No.: |
02050661 |
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Other Directorship :
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Name : |
Mr. S. Muthusamy |
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Designation : |
Director |
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Address : |
2/26 Rasampalayam, Keelsathampur, Namakkal - 637207, Tamil Nadu, India |
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Date of Appointment : |
04.01.2001 |
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DIN No.: |
02050693 |
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Other Directorship :
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KEY EXECUTIVES
|
Name : |
Srinivasa Narayanan Madhavan |
|
Designation : |
Company Secretary |
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Address : |
Old No 51 New No. 109 Karaneeswarar Koil Street, Mylapore, Chennai - 600004, Tamil Nadu, India |
|
Date of Appointment : |
16.03.2015 |
|
PAN No.: |
AAPPM2859L |
MAJOR SHAREHOLDERS
As on 25.09.2014
Shareholders File Attached
As on 25.09.2014
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Directors or relatives of Directors |
99.93 |
|
Other top fifty shareholders |
0.07 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in logistics services and freight forwarding. |
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Products / Services : |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
Not Available |
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Imports : |
Not Available |
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Terms : |
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Selling : |
Not Available |
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Purchasing : |
Not Available |
PRODUCTION STATUS = NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
Not Available |
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Bankers : |
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Facilities : |
(Rs.
In Million)
|
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Financial Institutions : |
SREI Equipment Finance Private Limited 'Vishwakarma', 86C, Topsia Road, Kolkata - 700046, West Bengal, India |
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Auditors : |
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Name : |
A. V.Deven and Company Chartered Accountants |
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Address : |
B10, Pleasant Apartments, Kilpauk, Chennai – 600010, Tamilnadu, India |
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PAN No.: |
AAAFA1156H |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Subsidiaries : |
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Others : |
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CAPITAL STRUCTURE
As on 31.03.2014
Authorised Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000000 |
Equity Shares |
Rs.10/- each |
Rs.100.000 Million |
Issued, Subscribed & Paid-up Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
6495000 |
Equity Shares |
Rs.10/- each |
Rs.64.950
Million |
FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
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|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
64.950 |
64.950 |
60.000 |
|
(b) Reserves &
Surplus |
943.621 |
859.983 |
632.585 |
|
(c) Money received
against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application
money pending allotment |
0.000 |
0.380 |
0.000 |
|
Total Shareholders’ Funds
(1) + (2) |
1008.571 |
925.313 |
692.585 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
964.442 |
566.026 |
856.633 |
|
(b) Deferred tax
liabilities (Net) |
140.521 |
150.697 |
132.886 |
|
(c) Other long term
liabilities |
18.136 |
18.136 |
19.134 |
|
(d) long-term provisions |
2.885 |
1.735 |
1.859 |
|
Total Non-current
Liabilities (3) |
1125.984 |
736.594 |
1010.512 |
|
|
|
|
|
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(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
782.028 |
637.076 |
484.362 |
|
(b) Trade payables |
182.001 |
433.023 |
474.879 |
|
(c) Other current
liabilities |
196.683 |
542.387 |
461.524 |
|
(d) Short-term provisions |
74.856 |
154.094 |
96.572 |
|
Total Current Liabilities
(4) |
1235.568 |
1766.580 |
1517.337 |
|
|
|
|
|
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TOTAL |
3370.123 |
3428.487 |
3220.434 |
|
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|
|
|
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II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
1353.426 |
1521.257 |
1670.101 |
|
(ii) Intangible Assets |
3.024 |
3.414 |
4.138 |
|
(iii) Capital
work-in-progress |
49.870 |
32.569 |
9.299 |
|
(iv) Intangible assets
under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
34.985 |
41.285 |
38.970 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
23.287 |
18.706 |
38.152 |
|
(e) Other Non-current
assets |
18.188 |
37.584 |
31.717 |
|
Total Non-Current Assets |
1482.780 |
1654.815 |
1792.377 |
|
|
|
|
|
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(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
44.927 |
0.000 |
0.000 |
|
(c) Trade receivables |
1693.767 |
1663.092 |
1326.770 |
|
(d) Cash and cash
equivalents |
12.234 |
56.121 |
44.235 |
|
(e) Short-term loans and
advances |
57.477 |
24.686 |
30.110 |
|
(f) Other current assets |
78.938 |
29.773 |
26.942 |
|
Total Current Assets |
1887.343 |
1773.672 |
1428.057 |
|
|
|
|
|
|
TOTAL |
3370.123 |
3428.487 |
3220.434 |
PROFIT & LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Income |
2749.348 |
3207.469 |
3460.740 |
|
|
Other Income |
31.777 |
39.461 |
13.074 |
|
|
TOTAL |
2781.125 |
3246.930 |
3473.814 |
|
|
|
|
|
|
|
Less |
EXPENSES |
2279.923 |
2593.465 |
2815.100 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION |
501.202 |
653.465 |
658.714 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
288.735 |
298.411 |
245.339 |
|
|
|
|
|
|
|
Less/ Add |
EXTRAORDINARY ITEMS |
81.527 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
293.994 |
355.054 |
413.375 |
|
|
|
|
|
|
|
Less |
TAX |
210.356 |
127.656 |
138.711 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
83.638 |
227.398 |
274.664 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (Rs.) |
12.87 |
35.01 |
42.28 |
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current Maturities of Long term debt |
169.699 |
524.000 |
449.060 |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net cash flows from (used in) operations |
(84.422) |
532.183 |
479.669 |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT/Sales) |
(%) |
3.04 |
7.09 |
7.94 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
8.95 |
10.58 |
13.03 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.29 |
0.38 |
0.60 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
1.90 |
1.87 |
2.58 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.53 |
1.00 |
0.94 |
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 |
60.000 |
64.950 |
64.950 |
|
Reserves & Surplus |
632.585 |
859.983 |
943.621 |
|
Share Application money
pending allotment |
0.000 |
0.380 |
0.000 |
|
Net worth |
692.585 |
925.313 |
1008.571 |
|
|
|
|
|
|
long-term borrowings |
856.633 |
566.026 |
964.442 |
|
Short term borrowings |
484.362 |
637.076 |
782.028 |
|
Current Maturities of
Long Term Debt |
449.060 |
524.000 |
169.699 |
|
Total borrowings |
1790.055 |
1727.102 |
1916.169 |
|
Debt/Equity ratio |
2.585 |
1.867 |
1.900 |
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 |
3460.740 |
3207.469 |
2749.348 |
|
|
|
(7.318) |
(14.283) |
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 |
3460.740 |
3207.469 |
2749.348 |
|
Profit |
274.664 |
227.398 |
83.638 |
|
|
7.94% |
7.09% |
3.04% |
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 |
No |
|
8 |
Designation of contact person |
No |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
No |
|
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 |
No |
|
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 |
Yes |
|
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 |
INDEX OF CHARGES
|
S. NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
10579334 |
24/02/2015 |
48,930,000.00 |
YES BANK LIMITED |
SHOP NO. 3, DASS
INDIA TOWER, 2ND FLOOR, 2ND LIN |
C58605478 |
|
2 |
10546908 |
20/01/2015 |
11,815,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL WEST, MUMBAI - 400013, MAHARASHTRA, INDIA |
C42373746 |
|
3 |
10557501 |
23/12/2014 |
22,500,000.00 |
INDIA INFOLINE FINANCE LIMITED |
12A-10, 13TH FLOOR,
PARINEE CRESCENZO, G BLOCK,, |
C47961024 |
|
4 |
10544009 |
12/12/2014 |
10,920,000.00 |
SIEMENS FINANCIAL SERVICES PRIVATE LIMITED |
130, PANDURANG BUDHKAR MARG, WORLI, MUMBAI - 400018, MAHARASHTRA, INDIA |
C40898140 |
|
5 |
10544007 |
12/12/2014 |
24,000,000.00 |
SIEMENS FINANCIAL SERVICES PRIVATE LIMITED |
130, PANDURANG BUDHKAR MARG, WORLI, MUMBAI - 400018, MAHARASHTRA, INDIA |
C40896979 |
|
6 |
10543834 |
30/05/2014 |
22,560,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL WEST, MUMBAI - 400013, MAHARASHTRA, INDIA |
C40834624 |
|
7 |
10458926 |
20/11/2013 * |
1,000,000,000.00 |
AXIS TRUSTEE SERVICES LIMITED |
2, AXIS HOUSE, BOMBAY DYEING MILLS COMPOUND, P.B. MARG, MUMBAI - 400025, MAHARASHTRA, INDIA |
B92030956 |
|
8 |
10449480 |
17/09/2013 |
15,000,000.00 |
ICICI BANK LIMITED |
LANDMARKRACE COURCE CIRCLE, ALKAPURI, BARODA - 390015, GUJARAT, INDIA |
B85182350 |
|
9 |
10449468 |
17/09/2013 |
100,000,000.00 |
ICICI BANK LIMITED |
LANDMARKRACE COURCE CIRCLE, ALKAPURI, BARODA - 390015, GUJARAT, INDIA |
B85181964 |
|
10 |
10413972 |
02/05/2013 * |
40,000,000.00 |
ICICI BANK LIMITED |
LANDMARKRACE COURCE CIRCLE, ALKAPURI, BARODA - 390015, GUJARAT, INDIA |
B74523382 |
* Date of charge modification
FIXED ASSETS
- Land
- Buildings
- Office Building
- Plant and Equipments
- Furniture and Fixtures
- Vehicles
- Office Equipment
- Computer Equipments
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.63.49 |
|
|
1 |
Rs.99.42 |
|
Euro |
1 |
Rs.69.14 |
INFORMATION DETAILS
|
Analysis Done by
: |
TRI |
|
|
|
|
Report Prepared
by : |
PNM |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILITY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--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 |
|
46 |
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.