MIRA INFORM REPORT
|
Report No. : |
327730 |
|
Report Date : |
16.06.2015 |
IDENTIFICATION DETAILS
|
Name : |
GIVAUDAN (INDIA) PRIVATE LIMITED (w.e.f. 06.07.2009) |
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|
|
|
Formerly Known
As : |
VINAROM PRIVATE LIMITED (w.e.f. 11.03.1987) ROURE AROMA PRIVATE LIMITED |
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Registered
Office : |
Plot No. 26, 2nd Cross Jigani Industrial Area, Anekal
Taluka, Jigani – 562106, Karnataka |
|
Tel. No.: |
91-80-27826301 |
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Country : |
India |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
05.08.1985 |
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|
Com. Reg. No.: |
08-007056 |
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Capital
Investment / Paid-up Capital : |
Rs. 87.330 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24290KA1985PTC007056 |
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|
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IEC No.: |
Not Available |
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|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
BLRG00505B BLRV00133A |
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PAN No.: [Permanent Account No.] |
AAACG6661N AAACV7454J |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Subject is engaged in the business of manufacturing flavours and fragrances undertakes to distribute flavours and fragrances products imported from its overseas group entities. |
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No. of Employees
: |
Information declined by the management. |
RATING & COMMENTS
|
MIRA’s Rating : |
A (66) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Maximum Credit Limit : |
USD 9700000 |
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|
|
Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a well-established company having fine track record. The rating reflects company’s healthy financial risk profile marked by
adequate liquidity position and sound profitability margins of the company. Trade relations are reported as fair. Business is active. Payments are
reported to be regular and as per commitment. The company can be considered good for normal 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 |
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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) DEFAILTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2013.
INFORMATION DENIED BY
|
Name : |
Mr. Santosh |
|
Designation : |
Export Department |
|
Contact No.: |
91-22-66625700 |
|
Date : |
16.06.2015 |
LOCATIONS
|
Registered Office : |
Plot No. 26, 2nd Cross Jigani Industrial Area, Anekal
Taluka, Jigani – 562106, Karnataka, India |
|
Tel. No.: |
91-80-27826301 / 30166300 |
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Fax No.: |
91-80-27825343 / 28300060 |
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E-Mail : |
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Website : |
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Branch 1 : |
401, Akruti Centre Point, 4th Floor, MIDC – |
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Tel. No.: |
91-22-66625700 |
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Fax No.: |
91-22-66625751 |
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Branch 2 / Factory : |
Plot No. 57/3 (2), 57/3 (3), Village Dunetha Daman – 396210, |
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Tel. No.: |
91-260-2261624 |
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Branch 3 : |
Plot No. 30, Survey N. 168, Dabhel Industrial Estate, Daman – 396210, |
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Tel. No.: |
91-260-2240646 |
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Fax No.: |
91-260-2240040 |
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Branch 4 : |
Block B – Vatika Atrium, DFL Golf Course Road, Sector 53, Gurgaon –
122001, Haryana, India |
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Tel. No.: |
91-124-437-5534 |
|
Fax No.: |
91-124-437-5535 |
DIRECTORS
As on 18.09.2014
|
Name : |
Mr. Tansukhlal Jain |
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|
Designation : |
Additional Director |
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Address : |
4B/124B, Kalpataru Estate, Near Poonam NGR JVLR, Andheri (East), Mumbai-400093, |
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Date of Birth/Age : |
25.04.1967 |
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Date of Appointment : |
25.09.2012 |
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DIN No.: |
00190341 |
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Other Directorship :
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Name : |
Mr. Mohanrao Chandappa Suvarna |
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Designation : |
Whole-time director |
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Address : |
Flat 1801/1802/1803, Samartha Aangan, Building No. 23 W –
A, Off |
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Date of Birth/Age : |
22.06.1958 |
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Date of Appointment : |
25.01.1999 |
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PAN No. : |
ACDPS8469C |
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DIN No.: |
00269671 |
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Name : |
Mr. Ajit Kumar Pal |
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Designation : |
Whole-Time Director |
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Address : |
Flat No 7, 7th Floor, Sanghi Residency Situated at Final Plot No. 1215 of TPS IV, Mahim Division, Palki Guly, Off Cadell Road, Mumbai – 400025, Maharashtra, India |
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Date of Birth/Age : |
01.10.1957 |
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Date of Appointment : |
29.09.2009 |
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PAN No. : |
AARPP3827H |
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DIN No.: |
00316419 |
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Other Directorship :
|
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KEY EXECUTIVES
|
Name : |
Mr. Santosh |
|
Designation : |
Export Department |
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|
Name : |
Mr. K Gururaj |
|
Designation : |
Secretary |
|
Address : |
No. 3, S.B.I Officers Colony, Basavehwaranagar, |
|
Date of Birth/Age : |
22.07.1967 |
|
Date of Appointment : |
11.06.2009 |
|
PAN No.: |
AAUPG9441P |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 18.09.2014
|
Names of Shareholders |
|
No. of Shares |
|
Givaudan SA, |
|
8733009 |
|
Givaudan Suisse SA, |
|
2 |
|
Total |
|
8733011 |
As on 18.09.2014
|
Category |
Percentage |
|
Foreign holdings( Foreign institutional investor(s),
Foreign companie(s) Foreign financial institution(s), Non-resident Indian(s)
or Overseas Corporate bodies or Others |
100.00 |
|
Total |
100.00 |
%20PRIVATE%20LIMITED%20-%20327730%2016-Jun-2015_files/image013.gif)
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in the business of manufacturing flavours and fragrances undertakes to distribute flavours and fragrances products imported from its overseas group entities. |
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Products : |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
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Selling : |
Not Divulged |
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Purchasing : |
Not Divulged |
PRODUCTION STATUS : Not
Available
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
Information declined by the management |
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Bankers : |
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Auditors : |
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|
Name : |
Deloitte Haskins and Sells Chartered Accountants |
|
Address : |
Tower 3, 27th -32nd Floor, Indiabulls Finance Centre,
Elphistone Mill Compound, Senapati Bapat Marg, Elphistone(W), Mumbai 400 013,
India |
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PAN No.: |
AACFD4815A |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Fellow Subsidiary
company: |
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Holding company : |
Givaudan SA |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000000 |
Equity Shares |
Rs.10/- each |
Rs. 100.000 Million |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
8733011 |
Equity Shares |
Rs.10/- each |
Rs. 87.330
Million |
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|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
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 |
87.330 |
75.755 |
75.755 |
|
(b) Reserves &
Surplus |
3332.417 |
2507.576 |
2318.730 |
|
(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) |
3419.747 |
2583.331 |
2394.485 |
|
|
|
|
|
|
(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 |
42.368 |
21.578 |
18.836 |
|
Total Non-current
Liabilities (3) |
42.368 |
21.578 |
18.836 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
342.017 |
734.982 |
349.978 |
|
(b) Trade payables |
1395.808 |
1181.260 |
1613.707 |
|
(c) Other current
liabilities |
117.574 |
117.226 |
62.932 |
|
(d) Short-term provisions |
2.904 |
2.184 |
1.886 |
|
Total Current Liabilities
(4) |
1858.303 |
2035.652 |
2028.503 |
|
|
|
|
|
|
TOTAL |
5320.418 |
4640.561 |
4441.824 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
1033.172 |
907.030 |
689.246 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
28.909 |
21.891 |
18.311 |
|
(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) |
35.507 |
18.764 |
10.267 |
|
(d) Long-term Loan and Advances |
763.222 |
661.528 |
610.347 |
|
(e) Other Non-current
assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
1860.810 |
1609.213 |
1328.171 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
1241.949 |
1100.023 |
1170.662 |
|
(c) Trade receivables |
1934.843 |
1725.195 |
1688.567 |
|
(d) Cash and cash
equivalents |
17.603 |
32.330 |
27.305 |
|
(e) Short-term loans and
advances |
265.213 |
173.800 |
227.119 |
|
(f) Other current assets |
0.000 |
0.000 |
0.000 |
|
Total Current Assets |
3459.608 |
3031.348 |
3113.653 |
|
|
|
|
|
|
TOTAL |
5320.418 |
4640.561 |
4441.824 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
|
|
|
|
|
TOTAL INCOME |
8137.059 |
7092.337 |
6160.594 |
|
|
|
|
||
|
Less |
TOTAL EXPENSES |
7506.364 |
6719.229 |
5722.594 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX,
DEPRECIATION AND AMORTISATION |
630.695 |
373.108 |
438.000 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
121.638 |
98.383 |
86.947 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
509.057 |
274.725 |
351.053 |
|
|
|
|
|
|
|
Less |
TAX |
172.681 |
85.880 |
118.676 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
336.376 |
188.845 |
232.377 |
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’ BALANCE
BROUGHT FORWARD |
2153.630 |
1964.784 |
1732.407 |
|
|
|
|
|
|
|
|
Balance Carried to the
B/S |
2490.006 |
2153.629 |
1964.784 |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
909.668 |
435.474 |
307.417 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (Rs.) |
38.52 |
21.62 |
26.61 |
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) |
(%) |
4.13 |
2.66 |
3.77 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
9.69 |
5.97 |
7.95 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.15 |
0.11 |
0.15 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.10 |
0.28 |
0.15 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.86 |
1.49 |
1.53 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Share Capital |
75.755 |
75.755 |
87.330 |
|
Reserves & Surplus |
2318.730 |
2507.576 |
3332.417 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net worth |
2394.485 |
2583.331 |
3419.747 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
349.978 |
734.982 |
342.017 |
|
Current Maturities of
Long Term Debt |
0.000 |
0.000 |
0.000 |
|
Total borrowings |
349.978 |
734.982 |
342.017 |
|
Debt/Equity ratio |
0.146 |
0.285 |
0.100 |
%20PRIVATE%20LIMITED%20-%20327730%2016-Jun-2015_files/image015.gif)
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 |
6160.594 |
7092.337 |
8137.059 |
|
|
|
15.124 |
14.730 |
%20PRIVATE%20LIMITED%20-%20327730%2016-Jun-2015_files/image017.gif)
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 |
6160.594 |
7092.337 |
8137.059 |
|
Profit |
232.377 |
188.845 |
336.376 |
|
|
3.77% |
2.66% |
4.13% |
%20PRIVATE%20LIMITED%20-%20327730%2016-Jun-2015_files/image019.gif)
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 |
Yes |
|
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 |
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 |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
NOTE: Registered office of the company has been shifted from # 1301-4, Prestige Meridian l, # 29, M.G. Road, Bangalore – 560054, Karnataka, India to the present address w.e.f. 23.12.2008
INDEX OF CHARGES
|
S. No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
90194949 |
27/10/1989 |
2,700,000.00 |
KARNATAKA STATE FINANCIAL CORPORATION |
NO.25; M.G. RAOD, BANGALORE, KARNATAKA - 560001, INDIA |
- |
|
2 |
90194830 |
11/07/1991 * |
8,500,000.00 |
STATE BANK OF INDIA |
BANGALORE CITY BRANCH, J.C. ROAD, BANGALORE, KARNATAKA - 560002, INDIA |
- |
* Date of charge modification
UNSECURED LOANS
|
PARTICULAR |
31.03.2014 (Rs.
in Million) |
31.03.2013 (Rs.
in Million) |
|
SHORT TERM
BORROWINGS |
|
|
|
Working capital loans from banks |
342.017 |
734.982 |
|
Total |
342.017 |
734.982 |
FIXED ASSETS
- Land
- Buildings
- Factory building
- Plant and equipment
- Factory
- Equipments
- Furniture and fixtures
- Vehicles
- Motor 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. 64.09 |
|
|
1 |
Rs. 99.57 |
|
Euro |
1 |
Rs. 71.84 |
INFORMATION DETAILS
|
Information
Gathered by : |
DIP |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
TRU |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
8 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
8 |
|
--PROFITABILIRY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
8 |
|
--CREDIT LINES |
1~10 |
7 |
|
--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 |
|
66 |
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.