MIRA
INFORM REPORT
|
Report No. : |
325217 |
|
Report Date : |
02.06.2015 |
IDENTIFICATION DETAILS
|
Name : |
VIKRAM CERAMICS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
21.3 K.M. Stone, |
|
Mobile No.: |
91-9783814160 [Mr. C. P. Kalla] |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
10.01.1996 |
|
|
|
|
Com. Reg. No.: |
17-011368 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 5.540
Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U26933RJ1996PTC011368 |
|
|
|
|
IEC No.: |
Not Available |
|
|
|
|
TAN No.: [Tax Deduction & Collection
Account No.] |
JDHV00918B |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACV6270A |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
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|
|
|
Line of Business
: |
Manufacturer of H.T. and L.T. Insulators. |
|
|
|
|
No. of Employees
: |
150 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (48) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track record. General financial position of the company seems to be fair. Trade relations are fair. Business is active. Payment terms are
reported to be usually correct. Subject 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 DEFAILTERS’ 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
31-03-2014.
INFORMATION PARTED BY
|
Name : |
Mr. C. P. Kalla |
|
Designation : |
Marketing Manager |
|
Contact No.: |
91-9783814160 |
|
Date : |
30.05.2015 |
LOCATIONS
|
Registered Office/ Factory : |
21.3 K.M. Stone, Jaipur Road, Village Norandesar, Bikaner – 334001,
Rajasthan, India |
|
Tel. No.: |
Not Available |
|
Mobile No.: |
91-9783814160 [Mr. C. P. Kalla] |
|
Fax No.: |
91-151-2547670/ 2260382 |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
|
Locality : |
Industrial |
DIRECTORS
AS ON 30.09.2014
|
Name : |
Mr. Sohan Lal Gattani |
|
Designation : |
Director |
|
Address : |
4-D, Gattani Niwas, JNV Nagar, Bikaner – 334001, Rajasthan, India |
|
Date of Birth/Age : |
01.09.1953 |
|
Date of Appointment : |
07.10.2013 |
|
DIN No.: |
01291869 |
|
|
|
|
Name : |
Mrs. Ratna Devi Gattani |
|
Designation : |
Director |
|
Address : |
4-D, Gattani Niwas, JNV Nagar, Bikaner – 334001, Rajasthan, India |
|
Date of Birth/Age : |
09.08.1958 |
|
Date of Appointment : |
18.08.2006 |
|
DIN No.: |
02612056 |
|
|
|
|
Name : |
Mr. Mahendra Kumar Gattani |
|
Designation : |
Director |
|
Address : |
4-D, Gattani Niwas, JNV Nagar, Bikaner – 334001, Rajasthan, India |
|
Date of Birth/Age : |
25.04.1979 |
|
Date of Appointment : |
07.10.2013 |
|
DIN No.: |
02749769 |
KEY EXECUTIVES
|
Name : |
Mr. C. P. Kalla |
|
Designation : |
Marketing Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2014
|
Names of Shareholders |
|
No. of Shares |
|
Mahendra
Kumar Gattani |
|
28500 |
|
Kishan
Gopal Karnani |
|
37000 |
|
Bhagwati
Devi Karnani |
|
14500 |
|
S
R Karnani and Sons |
|
10000 |
|
Om
Prakash Karnani |
|
61000 |
|
Shiv
Ratan Karnani |
|
75000 |
|
Hanuman
Prasad Karnani |
|
19000 |
|
Sohan
Lal Gattani |
|
75500 |
|
Sarita
Devi Karnani |
|
9200 |
|
Ratna
Devi Gattani |
|
119500 |
|
Tirupati
Enterprises |
|
26000 |
|
Marudhar
Calcium Private Limited, India |
|
14000 |
|
Marudhar
Ceramics Private Limited, India |
|
64000 |
|
Mamta
Karnani |
|
100 |
|
Sarswati
Devi Jhanwar |
|
100 |
|
Seema
Devi Gattani |
|
100 |
|
Suresh
Kumar Gattani |
|
100 |
|
Kamla
Devi Gattani |
|
100 |
|
Rajesh
Kumar Gattani |
|
100 |
|
Neelam
Devi Lakhotia |
|
100 |
|
Harshit
Karnani |
|
100 |
|
|
|
|
|
Total |
|
554000 |
AS ON 30.09.2014
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Bodies
corporate |
19.00 |
|
Directors
or relatives of directors |
40.00 |
|
Other
top fifty shareholders |
41.00 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of H.T. and L.T. Insulators. |
|
|
|
|
Brand Names : |
-- |
|
|
|
|
Agencies Held : |
-- |
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|
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|
Exports : |
|
|
Products : |
-- |
|
Countries : |
-- |
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|
|
|
Imports : |
|
|
Products : |
-- |
|
Countries : |
-- |
|
|
|
|
Terms : |
|
|
Selling : |
Cash and Cheque |
|
|
|
|
Purchasing : |
Cash and Cheque |
PRODUCTION STATUS: NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
Wholesalers and Retailers
· PSPCL PGVCL NHPC North Delhi Power Limited Eastern Power |
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No. of Employees : |
150 (Approximately) |
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Bankers : |
· Bank of Baroda Station Road Branch, Bikaner - 334001, Rajasthan, India |
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Facilities : |
|
||||||||||||||||||||||
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Auditors : |
|
|
Name : |
V. Damani and Company Chartered Accountants |
|
Address : |
C-3, Khajanchi Market, K.E.M Road, Bikaner – 334001, Rajasthan, India |
|
Tel. No.: |
91-151-2525016 |
|
Income-tax
PAN of auditor or auditor's firm : |
AFAPD1514K |
|
|
|
|
Memberships : |
-- |
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|
|
|
Collaborators : |
-- |
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|
|
|
Related Party : |
Tirupati Enterprises |
CAPITAL STRUCTURE
AS ON 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
650,000 |
Equity Shares |
Rs. 10/- each |
Rs. 6.500 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
554,000 |
Equity Shares |
Rs. 10/- each |
Rs. 5.540
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 |
5.540 |
5.540 |
5.540 |
|
(b) Reserves & Surplus |
14.162 |
13.652 |
13.185 |
|
(c) Money received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money
pending allotment |
0.000 |
0.237 |
0.237 |
|
Total
Shareholders’ Funds (1) + (2) |
19.702 |
19.429 |
18.962 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) Long-term borrowings |
20.620 |
18.055 |
16.437 |
|
(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) |
20.620 |
18.055 |
16.437 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
12.357 |
8.419 |
4.464 |
|
(b)
Trade payables |
16.635 |
13.785 |
12.140 |
|
(c)
Other current liabilities |
0.141 |
0.118 |
0.174 |
|
(d) Short-term
provisions |
0.607 |
0.706 |
2.710 |
|
Total Current
Liabilities (4) |
29.740 |
23.028 |
19.488 |
|
|
|
|
|
|
TOTAL |
70.062 |
60.512 |
54.887 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
7.560 |
6.854 |
7.644 |
|
(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) |
1.507 |
1.499 |
1.419 |
|
(d) Long-term Loan and Advances |
3.372 |
3.008 |
1.768 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
12.439 |
11.361 |
10.831 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
22.757 |
11.113 |
6.279 |
|
(c)
Trade receivables |
24.615 |
29.451 |
30.495 |
|
(d) Cash
and cash equivalents |
2.970 |
2.569 |
3.022 |
|
(e)
Short-term loans and advances |
6.495 |
5.492 |
3.927 |
|
(f)
Other current assets |
0.786 |
0.526 |
0.333 |
|
Total
Current Assets |
57.623 |
49.151 |
44.056 |
|
|
|
|
|
|
TOTAL |
70.062 |
60.512 |
54.887 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from Operations |
54.485 |
78.440 |
85.760 |
|
|
|
Other Income |
NA |
NA |
NA |
|
|
|
TOTAL (A) |
NA
|
NA
|
NA
|
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL (B) |
NA
|
NA
|
NA
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
2.577 |
3.091 |
3.482 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
1.027 |
1.615 |
1.205 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
1.550 |
1.476 |
2.277 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
0.926 |
0.999 |
1.111 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
0.624 |
0.477 |
1.166 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
0.113 |
0.010 |
0.122 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
0.511 |
0.467 |
1.044 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
0.92 |
0.84 |
1.88 |
|
Expected Sales (2014-2015): Rs. 110.000 Million
The above information has been parted by Mr. C. P. Kalla (Marketing
Manager)
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 |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
|
|
|
|
Net Profit Margin (PBDIT/Sales) |
(%) |
4.73 |
3.94 |
4.06 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.91 |
0.81 |
2.18 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.03 |
0.02 |
0.06 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.67 |
1.36 |
1.10 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.94 |
2.13 |
2.26 |
Total Liability = Short-term Debt + Long-term Debt + Current Maturities
of Long-term debts
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particulars |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Share Capital |
5.540 |
5.540 |
5.540 |
|
Reserves & Surplus |
13.185 |
13.652 |
14.162 |
|
Money received against share warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money pending allotment |
0.000 |
0.237 |
0.237 |
|
Net
worth |
18.725 |
19.429 |
19.939 |
|
|
|
|
|
|
Long-term borrowings |
16.437 |
18.055 |
20.620 |
|
Short term borrowings |
4.464 |
8.419 |
12.357 |
|
Total
borrowings |
20.901 |
26.474 |
32.977 |
|
Debt/Equity ratio |
1.116 |
1.363 |
1.654 |
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 |
85.760 |
78.440 |
54.485 |
|
|
|
(8.535) |
(30.539) |
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 |
85.760 |
78.440 |
54.485 |
|
Profit |
1.044 |
0.467 |
0.511 |
|
|
1.22% |
0.60% |
0.94% |
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 |
No |
|
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 |
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 |
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 |
10214226 |
27/11/2013 * |
27,500,000.00 |
STATE BANK OF
BIKANER AND JAIPUR |
JAI NARAYAN VYAS
COLONY BRANCH, BIKANER, RAJASTHAN |
B92349455 |
* Date of charge modification
UNSECURED LOANS
|
PARTICULARS |
31.03.2014 (Rs.
In Million) |
31.03.2013 (Rs.
In Million) |
|
LONG-TERM BORROWINGS |
|
|
|
Loans from Directors |
5.056 |
3.400 |
|
Loans from Others |
15.564 |
14.655 |
|
|
|
|
|
Total |
20.620 |
18.055 |
CHANGE OF ADDRESS:
The Registered Office of the company has been shifted from Lakhotia
Niwas, New Lineganga Shahar, Bikaner Ganga Shahar, Bikaner Rajasthan India to
the present address w.e.f.30.03.2009.
FIXED ASSETS:
·
Land
Building
Furniture
& Fixtures
Plant and
Machinery
Transformers
Motor
Cycle
Refrigerator
Computer
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. 63.61 |
|
|
1 |
Rs. 97.27 |
|
Euro |
1 |
Rs. 69.63 |
INFORMATION DETAILS
|
Information
Gathered by : |
GYT |
|
|
|
|
Analysis Done by
: |
SAN |
|
|
|
|
Report Prepared
by : |
BVA |
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 |
5 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--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 |
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 |
|
48 |
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.