MIRA INFORM REPORT
|
Report No. : |
327354 |
|
Report Date : |
15.06.2015 |
IDENTIFICATION DETAILS
|
Name : |
VENUS INFOCOM PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Amba Bhavan, First-B, Tara Temple Lane, Lamington Road, Mumbai – 400
007, Maharashtra |
|
Tel. No.: |
91-22-66344144 (Hunting) |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
15.01.2001 |
|
|
|
|
Com. Reg. No.: |
11-130468 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.0.104
million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U72900MH2001PTC130468 |
|
|
|
|
IEC No.: |
Not Available |
|
|
|
|
TAN No.: [Tax Deduction & Collection
Account No.] |
MUMV12814E |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCV4521H |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Dealer of Computer Peripherals and Consumables. |
|
|
|
|
No. of Employees
: |
10 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (27) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having moderate track record. For the financial year ended 2014, company has reported sound sales turnover
growth at 13.75% but profitability margins remains low at 0.17%. Rating further constrained on account of company’s moderate financial
risk profile marked by small networth base and huge external borrowing taken by
the company which leverage balance sheet profile of the company. However, trade relations are fair. Business is active. Payments are
reported to be slow but correct. In view of leverage balance sheet profile along with low profitability
margins, the company can be considered for business dealing with some
caution. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
Not Available |
|
Rating |
Not Available |
|
Rating Explanation |
Not Available |
|
Date |
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 (PARTIAL DETAILS)
|
Name : |
Mr. Amol |
|
Designation : |
Accounts Department |
|
Contact No.: |
91-22-66344144 |
|
Date : |
13.06.2015 |
LOCATIONS
|
Registered Office : |
Amba Bhavan, First-B, Tara Temple Lane, Lamington Road, Mumbai – 400
007, Maharashtra, India |
|
Tel. No.: |
91-22-66344144 (Hunting) |
|
Fax No.: |
91-22-66104494 |
|
E-Mail : |
|
|
Area : |
1500 sq. ft. |
|
Location : |
Owned |
|
Locality : |
Commercial |
DIRECTORS
AS ON 30.09.2013
|
Name : |
Mr. Babulal Mulchand Bohra |
|
Designation : |
Director |
|
Address : |
E/2-304, Bharat Nagar, 342, Grant Road, Mumbai – 400 007, Maharashtra,
India |
|
Date of Birth/Age : |
18.07.1952 |
|
Date of Appointment : |
15.01.2001 |
|
DIN No.: |
00407607 |
|
|
|
|
Name : |
Mr. Sanjay Babulal Bohra |
|
Designation : |
Director |
|
Address : |
E/2-304, Bharat Nagar, 342, Grant Road, Mumbai – 400 007, Maharashtra,
India |
|
Date of Birth/Age : |
31.12.1973 |
|
Date of Appointment : |
15.01.2001 |
|
DIN No.: |
00407738 |
|
|
|
|
Name : |
Mr. Manish Babulal Bohra |
|
Designation : |
Director |
|
Address : |
E/2-304, Bharat Nagar, 342, Grant Road, Mumbai – 400 007, Maharashtra,
India |
|
Date of Birth/Age : |
01.03.1976 |
|
Date of Appointment : |
15.01.2001 |
|
DIN No.: |
00407670 |
KEY EXECUTIVES
|
Name : |
Mr. Amol |
|
Designation : |
Accounts Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2013
|
Names of Shareholders |
|
No. of Shares |
|
Babulal M. Bohra |
|
4000 |
|
Sanjay B. Bohra |
|
3000 |
|
Manish B. Bohra |
|
3000 |
|
Kailash S. Bafna |
|
10 |
|
Kamlesh S. Nahar |
|
10 |
|
Mahesh C. Salgia HUF |
|
10 |
|
Naresh Nahar |
|
10 |
|
Alka J. Vanigota |
|
10 |
|
Anjana Jogani |
|
10 |
|
Jayamala Nahar |
|
10 |
|
Meena Chouhan |
|
10 |
|
Rekha Nahar |
|
10 |
|
Seema Nahar |
|
10 |
|
Sumermal J. Bafna |
|
10 |
|
Mohani M. Jain |
|
10 |
|
Laxmi Nahar |
|
10 |
|
Mohini Devichand Seth |
|
10 |
|
Kishormal S. Jain HUF |
|
10 |
|
Praveen Sukhraj Jain |
|
10 |
|
Rasila Bharat Jain |
|
10 |
|
Rajesh Sukhraj Jain |
|
10 |
|
Jayanti Mulchand Vanigota |
|
10 |
|
Shailesh Sumermal Nahar |
|
10 |
|
Ugamdevi M. Vanigota |
|
10 |
|
Narendrakumar R. Jain |
|
10 |
|
Madhu S. Bohra |
|
10 |
|
Narendrakumar R. Jain HUF |
|
10 |
|
Rajesh S. Jain HUF |
|
10 |
|
Manoj Mangilal Jain |
|
10 |
|
Kamala Sukhraj Jain |
|
10 |
|
Vijay Sampat |
|
100 |
|
Total |
|
10370 |
AS ON 30.09.2013
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Directors
or relatives of directors |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Dealer of Computer Peripherals and Consumables. |
|
|
|
|
Products : |
|
|
|
|
|
Brand Names : |
Not Available |
|
|
|
|
Agencies Held : |
Not Available |
|
|
|
|
Exports : |
Not Divulged |
|
|
|
|
Imports : |
Not Divulged |
|
|
|
|
Terms : |
|
|
Selling : |
Cash, Advance Payment and Cheque |
|
|
|
|
Purchasing : |
Cash, Advance Payment and Cheque
|
PRODUCTION STATUS: NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
|
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Customers : |
Retailers and End Users
|
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No. of Employees : |
10 (Approximately) |
||||||||||||||||||||||
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|
||||||||||||||||||||||
|
Bankers : |
·
Indian
Bank, Prathana Samaj Branch, 1st
Floor, Vijay Chambers, Tribhuvan Road, Mumbai –
400 004, Maharashtra, India |
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Facilities : |
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Salgia and Associates Chartered Accountants |
|
Address : |
Panthky House, 1st Floor, 8, Maruti Cross Lane, Fort,
Mumbai – 400 001, Maharashtra, India |
|
Tel. No.: |
91-22-22619784 |
|
E-Mail : |
|
|
PAN N Income-tax PAN of auditor or auditor's firm : |
ADSPS9398A |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Enterprises where key management personnel or relatives of key
management personnel have control or significant influence : |
|
CAPITAL STRUCTURE
AS ON 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
100000 |
Equity Shares |
Rs.10/- each |
Rs.1.000 million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
10370 |
Equity Shares |
Rs.10/- each |
Rs.0.104
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 |
0.104 |
0.104 |
0.104 |
|
(b) Reserves &
Surplus |
7.347 |
6.352 |
5.439 |
|
(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) |
7.451 |
6.456 |
5.543 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) Long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(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) |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
40.517 |
39.059 |
46.319 |
|
(b) Trade payables |
57.957 |
33.217 |
19.479 |
|
(c) Other current liabilities |
0.192 |
0.103 |
0.310 |
|
(d) Short-term provisions |
0.000 |
0.001 |
0.000 |
|
Total Current Liabilities
(4) |
98.666 |
72.380 |
66.108 |
|
|
|
|
|
|
TOTAL |
106.117 |
78.836 |
71.651 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
0.237 |
0.241 |
0.402 |
|
(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) |
0.062 |
0.081 |
0.081 |
|
(d) Long-term Loan and Advances |
0.000 |
0.000 |
0.000 |
|
(e) Other Non-current
assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
0.299 |
0.322 |
0.483 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
21.647 |
18.099 |
0.486 |
|
(c) Trade receivables |
81.742 |
58.270 |
68.566 |
|
(d) Cash and cash
equivalents |
0.279 |
0.216 |
0.420 |
|
(e) Short-term loans and
advances |
2.150 |
1.929 |
1.696 |
|
(f) Other current assets |
0.000 |
0.000 |
0.000 |
|
Total Current Assets |
105.818 |
78.514 |
71.168 |
|
|
|
|
|
|
TOTAL |
106.117 |
78.836 |
71.651 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from operations |
|
514.901 |
494.911 |
|
|
|
Other Income |
|
0.010 |
0.000 |
|
|
|
TOTAL |
585.715 |
514.911 |
494.911 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
584.225 |
513.488 |
493.739 |
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION |
1.490 |
1.423 |
1.172 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
0.047 |
0.100 |
0.140 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
1.443 |
1.323 |
1.032 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
0.448 |
0.410 |
0.326 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
0.995 |
0.913 |
0.707 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’
BALANCE BROUGHT FORWARD |
6.352 |
5.439 |
4.732 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
7.347 |
6.352 |
5.439 |
|
|
|
|
|
|
|
|
|
|
Earnings/ (Loss)
Per Share (Rs.) |
95.97 |
88.02 |
68.19 |
|
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) |
(%) |
NA |
0.18 |
0.14 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.36 |
1.68 |
1.44 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.19 |
0.20 |
0.19 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
5.44 |
6.05 |
8.36 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.07 |
1.08 |
1.08 |
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 |
0.104 |
0.104 |
0.104 |
|
Reserves & Surplus |
5.439 |
6.352 |
7.347 |
|
Money received against share warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net worth |
5.543 |
6.456 |
7.451 |
|
|
|
|
|
|
Long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
46.319 |
39.059 |
40.517 |
|
Total borrowings |
46.319 |
39.059 |
40.517 |
|
Debt/Equity ratio |
8.356 |
6.050 |
5.438 |
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) |
|
Total Income |
494.911 |
514.911 |
585.715 |
|
|
|
4.041 |
13.751 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Total Income |
494.911 |
514.911 |
585.715 |
|
Profit |
0.707 |
0.913 |
0.995 |
|
|
0.14% |
0.18% |
0.17% |
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 |
Yes |
|
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 |
UNSECURED LOAN
|
Particulars |
31.03.2014 (Rs. in Million) |
31.03.2013 (Rs. in Million) |
|
SHORT TERM BORROWINGS |
|
|
|
Loans repayable
on demand |
|
|
|
From Others |
22.620 |
21.270 |
|
Loans and advances from related parties |
3.734 |
4.480 |
|
Total |
26.354 |
25.750 |
INDEX
OF CHARGES
|
S. No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number
(SRN) |
|
1 |
10354593 |
22/11/2013 * |
45,000,000.00 |
ICICI BANK LIMITED |
LANDMARK RACE COURCE
CIRCLE, ALKAPURI, BARODA, GUJARAT - 390015, INDIA |
B89972707 |
* Date of charge modification
FIXED ASSETS:
· Office Equipments
· Computers and Software
· Mobile Phones
· Office Equipments
· Printer
· Vehicles
· Motor Car
· Motor Van
· Motor Bike
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.64.03 |
|
UK Pound |
1 |
Rs.99.27 |
|
Euro |
1 |
Rs.71.90 |
INFORMATION DETAILS
|
Information Gathered
by : |
MNJ |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
SMN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILITY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--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 |
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 |
|
27 |
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.