MIRA INFORM REPORT

 

 

Report No. :

326907

Report Date :

11.06.2015

 

IDENTIFICATION DETAILS

 

Name :

ASIAN REPROGRAPHICS PRIVATE LIMITED

 

 

Registered Office :

115 and 116, SIDCO Industrial Estate, Ambattur, Chennai – 600098, Tamilnadu

Tel. No.:

91-44-45048101/ 45048102/ 45048103/ 43401900-918 (19 Lines)

 

 

Country :

India

 

 

Financials (as on) :

31.03.2014

 

 

Date of Incorporation :

09.02.1977

 

 

Com. Reg. No.:

18-007268

 

 

Capital Investment / Paid-up Capital :

Rs.8.825 Million 

 

 

CIN No.:

[Company Identification No.]

U33209TN1977PTC007268

 

 

IEC No.:

Not Available

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

CHEA02171B

 

 

PAN No.:

[Permanent Account No.]

Not Available

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Manufacturer, Exporter and Importer of Reprographic Media, Photo Lamination Media and Equipment etc.

 

 

No. of Employees :

100 (Approximately)

 

 

RATING & COMMENTS

 

MIRA’s Rating :

B (30)

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Maximum Credit Limit :

USD 80000

 

 

Status :

Moderate

 

 

Payment Behaviour :

Slow but correct

 

 

Litigation :

Clear

 

 

Comments :

Subject is an established company having moderate track record.

 

Borrowings recorded by the company are huge and increasing which may further act as a threat to the liquidity position

 

However, trade relations are reported as fair. Business is active. Payment terms are reported to be slow but correct.

 

The company can be considered for business dealings 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 :

Mr. Shiv Shankar

Designation :

Accounts Department

Contact No.:

91-44-45048101

Date :

10.06.2015

 

 

LOCATIONS

 

Registered Office/ Factory :

115 and 116, SIDCO Industrial Estate, Ambattur, Chennai – 600098, Tamilnadu, India 

Tel. No.:

91-44-45048101/ 45048102/ 45048103/ 43401900-918 (19 Lines)

Mobile No.:

91-9382849085/ 9600013802 (Mr. Abhay Gautam Jain)

Fax No.:

91-44-45048104/ 43401919

E-Mail :

sales@asianreprographics.com

info@asianreprographics.com

mundhara_co@yahoo.co.in

Website :

www.asianreprographics.com

Location :

Owned

 

 

DIRECTORS

 

As on 30.09.2014

 

Name :

Mr. Goutham Deoraj Jain

Designation :

Whole-time director

Address :

No.153, Vaibhav Apartments, 62, Dr. E.V.K. Sampath Road, Vepery, Chennai – 600 007, Tamilnadu, India

Date of Birth/Age :

05.06.1960

Date of Appointment :

21.06.2014

DIN No.:

00902961

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

U33209TN1977PTC007268

ASIAN REPROGRAPHICS PRIVATE LIMITED

Whole-time director

21/06/2014

22/05/2000

-

Active

NO

2

U35999TN1993PTC024227

INDRA DHANUSH IMAGE SYSTEM PRIVATE LIMITED

Director

29/09/2007

09/05/2007

09/09/2010

Under Process of Striking off

NO

 

 

Name :

Mrs. Kumari Indira Goutham Chand

Designation :

Whole-time director

Address :

No.153, Vaibhav Apartments, 62, Dr. E.V.K. Sampath Road, Vepery, Chennai – 600 007, Tamilnadu, India

Date of Birth/Age :

10.04.1963

Date of Appointment :

21.06.2014

DIN No.:

01387690

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

U35999TN1993PTC024227

INDRA DHANUSH IMAGE SYSTEM PRIVATE LIMITED

Director

29/09/2007

09/05/2007

02/09/2010

Under Process of Striking off

NO

2

U33209TN1977PTC007268

ASIAN REPROGRAPHICS PRIVATE LIMITED

Whole-time director

21/06/2014

29/09/2007

-

Active

NO

 

 

Name :

Mr. Abhay Goutham Jain

Designation :

Whole-time director

Address :

A-Block, D.No.153, Fifth Floor, Vaibhav Apartments, E.V.K. Sampath Road, Vepery, Chennai – 600 007, Tamilnadu, India 

Date of Birth/Age :

20.09.1981

Date of Appointment :

21.06.2014

DIN No.:

00923609

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

U35999TN1993PTC024227

INDRA DHANUSH IMAGE SYSTEM PRIVATE LIMITED

Director

24/11/2000

24/11/2000

-

Under Process of Striking off

NO

2

U33209TN1977PTC007268

ASIAN REPROGRAPHICS PRIVATE LIMITED

Whole-time director

21/06/2014

30/01/2003

-

Active

NO

 

 

Name :

Sheetal Abhay Jain

Designation :

Whole-time director

Address :

No.153, Vaibhav Apartment, A-Block, 5th Floor, 62, E.V.K. Sampath Road, Vepery, Chennai – 600007, Tamilnadu, India

Date of Birth/Age :

22.04.1982

Date of Appointment :

21.06.2014

DIN No.:

01846555

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

U33209TN1977PTC007268

ASIAN REPROGRAPHICS PRIVATE LIMITED

Whole-time director

21/06/2014

29/09/2007

-

Active

NO

2

U35999TN1993PTC024227

INDRA DHANUSH IMAGE SYSTEM PRIVATE LIMITED

Director

30/09/2010

02/09/2010

-

Under Process of Striking off

NO

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

As on 30.09.2014

 

Names of Shareholders

No. of Shares

Percentage

Gouthamchand D. Jain

47969

54.36

Gouthamchand D. Jain (HUF)

6140

6.96

Abhay G. Kumar

11060

12.53

Indira Kumari G. Jain

22577

25.58

Sheetal A Jain

500

0.57

Total

88246

100.00

 

 

Equity Share Break up (Percentage of Total Equity)

 

Category

Percentage

Directors or relatives of Directors

100.00

Total

100.00

 

 

BUSINESS DETAILS

 

Line of Business :

Manufacturer, Exporter and Importer of Reprographic Media, Photo Lamination Media and Equipment etc.

 

 

Products :
  • Reprographic Media
  • Plotter Paper
  • Pre-Press Positive Films
  • Pre-Press Equipment
  • Cyber Print Media for Digital Colour Laser,Xeox
  • Photo Lamination Media and Equipment etc.

 

 

Brand Names :

Not Available

 

 

Agencies Held :

Not Available

 

 

Exports :

Not Divulged

 

 

Imports :

Not Divulged

 

 

Terms :

 

Selling :

Cash / Credit (30/60/90 Days)

 

 

Purchasing :

Cash / Credit (30/60/90 Days)

 

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

Experience :

Not Divulged

Maximum Limit Dealt :

Not Divulged

 

 

Customers :

Wholesalers and End Users

Reference :

Not Divulged

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Experience :

Not Divulged

Maximum Limit Dealt :

Not Divulged

 

 

No. of Employees :

100 (Approximately)

 

 

Bankers :

 

Banker Name :

Standard Chartered Bank

Branch Address :

No 58 2nd  Floor SME, Armenian Street, Chennai - 600001, Tamil Nadu, India

Facilities :

Not Divulged

Person Name :

Not Divulged

Contact No.:

Not Divulged

Report :

Not Divulged

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

 

 

Banker Name :

Indusind Bank Limited

Branch Address :

Al Complex, W115A, 3rd  Avenue, Anna Nagar, Chennai - 600040,Tamil Nadu, India

Facilities :

Not Divulged

Person Name :

Not Divulged

Contact No.:

Not Divulged

Report :

Not Divulged

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

 

Axis Bank Limited, Chennai, Tamilnadu, India

 

 

Facilities :

(Rs. In Million)

SECURED LOAN

As on

31.03.2014

As on

31.03.2013

Long Term Borrowing

 

 

Term loans from bank

15.581

5.000

Term loans from other parties

48.815

0.000

Short Term Borrowing

 

 

Loans Repayable on demand from banks

39.238

23.936

Loans Repayable on demand from other parties

0.127

0.546

Total

103.761

29.482

 

Auditors :

 

Name :

K.R. Bhansali and Associates

Chartered Accountants 

Address :

No.21, Pathasarathi Puram, 2nd Floor, T. Nagar, Chennai – 600 017, Tamilnadu, India

Tel. No.:

91-44-28144088

PAN No.:

AACPC4829P

 

 

Memberships :      

Not Available

 

 

Collaborators :

Not Available

 

 

Associates/Subsidiaries :

Not Available

 

 

CAPITAL STRUCTURE

 

As on 30.09.2014

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

200000

Equity Shares

Rs.100/- each

Rs.20.000 Million

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

88246

Equity Shares

Rs.100/- each

Rs.8.825 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

8.825

8.825

8.825

(b) Reserves & Surplus

18.609

15.745

13.175

(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)

27.434

24.570

22.000

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

74.595

11.670

6.939

(b) Deferred tax liabilities (Net)

0.389

0.461

0.517

(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)

74.984

12.131

7.456

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

39.364

24.482

30.747

(b) Trade payables

34.401

33.945

32.374

(c) Other current liabilities

0.000

0.000

0.000

(d) Short-term provisions

3.399

2.371

1.686

Total Current Liabilities (4)

77.164

60.798

64.807

 

 

 

 

TOTAL

179.582

97.499

94.263

 

 

 

 

II.            ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

69.214

19.072

17.141

(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

0.796

0.798

0.212

(e) Other Non-current assets

0.000

0.000

0.000

Total Non-Current Assets

70.010

19.870

17.353

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

42.423

36.725

38.895

(c) Trade receivables

48.681

30.513

28.036

(d) Cash and cash equivalents

6.355

2.562

2.090

(e) Short-term loans and advances

12.113

7.829

7.889

(f) Other current assets

0.000

0.000

0.000

Total Current Assets

109.572

77.629

76.910

 

 

 

 

TOTAL

179.582

97.499

94.263

 

 

PROFIT & LOSS ACCOUNT

 

 

 

PARTICULARS

31.03.2014

31.03.2013

31.03.2012

 

 

 

 

 

 

SALES TURNOVER

238.498

197.250

158.794

 

 

 

 

 

Less

EXPENSES

 

 

 

 

 

TOTAL                                    

231.631

190.919

153.237

 

 

 

 

 

 

 

 

 

 

 

PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION

6.867

6.331

5.557

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION                    

2.678

2.604

2.564

 

 

 

 

 

 

PROFIT BEFORE TAX

4.189

3.727

2.993

 

 

 

 

 

Less

TAX                                                                 

1.325

1.158

0.927

 

 

 

 

 

 

PROFIT AFTER TAX

2.864

2.569

2.066

 

 

 

 

 

Add

PREVIOUS YEARS’ BALANCE BROUGHT FORWARD

9.246

6.675

4.609

 

 

 

 

 

 

BALANCE CARRIED TO THE B/S

12.110

9.244

6.675

 

 

 

 

 

 

Earnings Per Share (Rs.)

32.45

29.11

23.41

 

 

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

(PAT / Sales)

(%)

1.20

1.30

1.30

 

 

 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)

2.33

3.82

3.18

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

0.15

0.15

0.14

 

 

 

 

 

Debt Equity Ratio

(Total Debt /Networth)

 

4.15

1.47

1.71

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

1.42

1.28

1.19

 

 

 

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

8.825

8.825

8.825

Reserves & Surplus

13.175

15.745

18.609

Net worth

22.000

24.570

27.434

 

 

 

 

long-term borrowings

6.939

11.670

74.595

Short term borrowings

30.747

24.482

39.364

Total borrowings

37.686

36.152

113.959

Debt/Equity ratio

1.713

1.471

4.154

 

 

 

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 Turnover

158.794

197.250

238.498

 

 

24.218

20.912

 

 

 

 

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 Turnover

158.794

197.250

238.498

Profit

2.066

2.569

2.864

 

1.30%

1.30%

1.20%

 

 

 

 

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

No

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

 

 

UNSECURED LOAN

 

(Rs. In Million)

Particular

As on

31.03.2014

As on

31.03.2013

Long Term Borrowing

 

 

Loans and advances from related parties

10.198

6.670

Total

10.198

6.670

 

 

INDEX OF CHARGES

 

S.No.

Charge ID

Date of Charge Creation/Modification

Charge amount secured

Charge Holder

Address

Service Request Number (SRN)

1

10478676

03/02/2014 *

74,917,000.00

INDUSIND BANK LIMITED.

AL COMPLEX, W115A, 3RD AVENUE, ANNA NAGAR,, CHENNAI, Tamil Nadu - 600040, INDIA

C26436287

2

10505418

27/08/2013

50,000,000.00

FULLERTON INDIA CREDIT COMPANY LIMITED

Megh Towers, Third Floor, Old No-307,, New No-165, Poonamallee High Road, Maduravoyal,, Chennai, Ta 
mil Nadu - 600095, INDIA

B97425409

 

 

* Date of charge modification

 

 

FIXED ASSETS

 

  • Furniture and fitting
  • Plant and machinery
  • Computer
  • Vehicle

 

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.63.88

UK Pound

1

Rs.98.47

Euro

1

Rs.72.14

 

 

INFORMATION DETAILS

 

Information Gathered by :

MNJ

 

 

Analysis Done by :

DIV

 

 

Report Prepared by :

JYTK

 

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

3

PAID-UP CAPITAL

1~10

3

OPERATING SCALE

1~10

4

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

3

--PROFITABILIRY

1~10

3

--LIQUIDITY

1~10

3

--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

 

30

 

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.