MIRA INFORM REPORT

 

 

Report No. :

327799

Report Date :

18.06.2015

           

IDENTIFICATION DETAILS

 

Name :

WINGS AUTOMOBILE PRODUCTS PRIVATE LIMITED

 

 

Registered Office :

Plot No I-35, DLF Industrial Area, Phase – 1, 13/7 Mathura Road, Faridabad – 121003, Haryana 

Tel. No.:

91-129-2250829

 

 

Country :

India

 

 

Financials (as on) :

31.03.2014

 

 

Date of Incorporation :

31.03.2014

 

 

Com. Reg. No.:

05-033046

 

 

Capital Investment / Paid-up Capital :

Rs. 3.106 Million

 

 

CIN No.:

[Company Identification No.]

U34300HR1996PTC033046

 

 

IEC No.:

0589050133

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

RTKW00114C

 

 

PAN No.:

[Permanent Account No.]

AAACW1001C

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Manufacturer, Exporter and Importer of Auto Parts Such as H.T. Lgnition Coil Assemblies, Inter Locked Laminations, Starter Motor Relays, Transformers, Noise Suppressor Caps, Stator Plate Assemblies etc.

 

 

No. of Employees :

800 (Approximately)

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba (47)

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Maximum Credit Limit :

USD 900000

 

 

Status :

Satisfactory

 

 

Payment Behaviour :

Usually correct

 

 

Litigation :

Clear

 

 

Comments :

Subject is a well-established private limited company incorporated in the year 1996, having satisfactory track.

 

Rating takes into consideration the sound financial risk profile of the company marked by strong net worth and healthy profit margin.

 

There seems increase in company’s sales turnover in FY14 as compare to previous year.

 

Overall financial condition of the company is decent.

 

Trade relations are fair. Business is active. Payments are reported to be usually correct.

 

The company can be considered for business dealings with usual trade terms and conditions. 

 

 

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) 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 PARTED BY

 

Name :

Mr. V Prakash Arora

Designation :

Account Officer

Contact No.:

91-129-2250829

Date :

17.06.2015

 

 

LOCATIONS

 

Registered Office / Factory :

Plot No I-35, DLF Industrial Area, Phase – 1, 13/7 mathura Road, Faridabad – 121003, Haryana, India

Tel. No.:

91-129-2250829/30/31/32

Fax No.:

91-129-2250820

E-Mail :

info@wingsauto.com

wingsauto@rediffmail.com

Website :

http://www.wingsato.com

 

 

DIRECTORS

 

As on 29.09.2014

 

Name :

Ms. Prabha Bhalla

Designation :

Director

Address :

House No. 1461, Sector 15, Faridabad – 121007, Haryana, India

Date of Birth/Age :

08.07.1941

Date of Appointment :

29.03.1996

DIN No. :

01214615

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

U34300HR1996PTC033046

WINGS AUTOMOBILE PRODUCTS PVT. LTD.

Director

29/03/1996

29/03/1996

-

Active

NO

2

U28999KA1997PTC022063

ADDON ENGINEERING PRIVATE LIMITED

Director

26/11/2007

07/06/2007

-

Active

NO

 

 

Name :

Mr. Rohit Bhalla

Designation :

Whole-time Director

Address :

House No. 1461, Sector 15, Faridabad – 121007, Haryana, India

Date of Birth/Age :

28.03.1967

Date of Appointment :

29.03.1996

DIN No. :

01214663

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

U34300HR1996PTC033046

WINGS AUTOMOBILE PRODUCTS PVT. LTD.

Whole-time director

29/03/1996

29/03/1996

-

Active

NO

2

U28999KA1997PTC022063

ADDON ENGINEERING PRIVATE LIMITED

Managing director

26/11/2007

07/06/2007

-

Active

NO

 

 

Name :

Madhu Bhalla

Designation :

Director

Address :

House No. 1461, Sector 15, Faridabad – 121007, Haryana, India

Date of Birth/Age :

30.10.1967

Date of Appointment :

29.03.1996

DIN No. :

01214833

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

U34300HR1996PTC033046

WINGS AUTOMOBILE PRODUCTS PVT. LTD.

Director

29/03/1996

29/03/1996

-

Active

NO

2

U28999KA1997PTC022063

ADDON ENGINEERING PRIVATE LIMITED

Director

26/11/2007

07/06/2007

-

Active

NO

 

 

KEY EXECUTIVES

 

Name :

Mr. V Prakash Arora

Designation :

Account Officer

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

As on 29.09.2014

 

Names of Shareholders

 

No. of Shares

Inderjit Bhalla

 

166000

Prabha Bhalla

 

6000

Rohit Bhalla

 

37000

Madhu Bhalla

 

600

Payal Kannan

 

101000

Total

 

310600

 

As on 29.09.2014

 

Category

Percentage

Directors or relatives of Directors

100.00

Total

100.00

 

 

 

BUSINESS DETAILS

 

Line of Business :

Manufacturer, Exporter and Importer of Auto Parts Such as H.T. Lgnition Coil Assemblies, Inter Locked Laminations, Starter Motor Relays, Transformers, Noise Suppressor Caps, Stator Plate Assemblies etc.

 

 

Products :
  • H.T. Lgnition Coil Assemblies
  • Inter Locked Laminations
  • Starter Motor Relays
  • Transformers
  • Noise Suppressor Caps
  • Stator Plate Assemblies etc.

 

 

Brand Names :

Not Available

 

 

Agencies Held :

Not Available

 

 

Exports :

 

Products :

Finished Goods

Countries :
  • Italy
  • China

 

 

Imports :

 

Products :

Raw Material

Countries :
  • Japan
  • Malaysia
  • Turkey

 

 

Terms :

 

Selling :

Advance Payment, L\C and Credit

 

 

Purchasing :

Advance Payment, L\C and Credit

 

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 :

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 :

800 (Approximately)

 

 

Bankers :

Banker Name

Citibank N.A.

Branch Address

Jeevan Bihar, 3 Sansad Marg, new Delhi – 110001, India

Person Name (With Designation)

Not Divulged

Contact Number

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

 

 

Facilities :

SECURED LOANS

31.03.2014

(Rs. in Million)

31.03.2013

(Rs. in Million)

LONG TERM BORROWINGS

 

 

Term loans from banks

51.904

74.838

 

 

 

SHORT TERM BORROWINGS

 

 

From banks

 

 

Cash Credit Loan (Citibank)

12.893

21.458

Current accounts

0.103

0.000

Total

64.900

96.296

 

 

 

Auditors :

 

Name :

Vikas Kochhar and Associates

Chartered Accountant

Address :

29, 2nd Floor, Defence Colony Market, New Delhi – 110024, India

PAN No.:

AACFV4579P

 

 

Memberships :

Not Available

 

 

Collaborators :

Not Available

 

 

Entities in which KMP / Relatives of KMP have significant influence :

Addon Engineering Private Limited

 

 

CAPITAL STRUCTURE

 

As on 29.09.2014

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

2000000

Equity Shares

Rs. 10/- each

Rs. 20.000 Million

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

310600

Equity Shares

Rs. 10/- each

Rs. 3.106 Million

 

 

 

 

 

 

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

3.106

3.106

3.106

(b) Reserves & Surplus

312.146

265.474

231.877

(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)

315.252

268.580

234.983

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

106.345

126.302

14.047

(b) Deferred tax liabilities (Net)

0.119

0.057

1.131

(c) Other long term liabilities

1.420

0.771

0.627

(d) long-term provisions

1.894

1.562

1.279

Total Non-current Liabilities (3)

109.778

128.692

17.084

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

12.996

21.458

20.000

(b) Trade payables

102.584

70.597

74.577

(c) Other current liabilities

48.101

36.037

13.506

(d) Short-term provisions

22.906

16.507

22.707

Total Current Liabilities (4)

186.587

144.599

130.790

 

 

 

 

TOTAL

611.617

541.871

382.857

 

 

 

 

II.          ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

302.541

283.059

141.861

(ii) Intangible Assets

0.000

0.016

0.023

(iii) Capital work-in-progress

26.768

0.000

0.000

(iv) Intangible assets under development

0.000

0.000

0.000

(b) Non-current Investments

23.084

23.084

23.084

(c) Deferred tax assets (net)

0.000

0.000

0.000

(d)  Long-term Loan and Advances

12.549

16.354

3.284

(e) Other Non-current assets

0.000

0.000

0.000

Total Non-Current Assets

364.942

322.513

168.252

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

51.852

55.345

27.764

(c) Trade receivables

151.101

134.647

117.285

(d) Cash and cash equivalents

0.675

3.104

22.776

(e) Short-term loans and advances

42.943

26.251

46.765

(f) Other current assets

0.104

0.011

0.015

Total Current Assets

246.675

219.358

214.605

 

 

 

 

TOTAL

611.617

541.871

382.857

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

31.03.2014

31.03.2013

31.03.2012

 

SALES

 

 

 

 

Income

699.915

655.175

 

Other Income

 

2.214

2.325

 

TOTAL

768.025

702.129

657.500

 

 

 

 

 

Less

EXPENSES

 

 

 

 

Cost of Materials Consumed

 

522.889

485.779

 

Purchases of Stock-in-Trade

 

0.000

0.000

 

Changes in inventories of finished goods, work-in-progress and Stock-in-Trade

 

-0.043

-1.591

 

Employees benefits expense

 

27.014

19.669

 

Other expenses

 

63.207

56.074

 

TOTAL

676.341

613.067

559.931

 

 

 

 

 

Less

PROFIT/ (LOSS)  BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION

89.062

97.569

 

 

 

 

 

Less

FINANCIAL EXPENSES

 

19.076

5.847

 

 

 

 

 

 

PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION 

91.684

69.986

91.722

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION

24.318

22.459

21.172

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE TAX

67.366

47.527

70.550

 

 

 

 

 

Less

TAX

22.073

14.981

22.933

 

 

 

 

 

 

PROFIT/ (LOSS)  AFTER TAX 

45.293

32.546

47.617

 

 

 

 

 

 

EARNINGS IN FOREIGN CURRENCY

41.166

42.265

41.249

 

 

 

 

 

 

Earnings / (Loss) Per Share (Rs.)

145.82

104.79

153.31

 

 

Expected Sales (2014-2015) : Rs. 860.000 Million

 

The above information has been parted by Mr. Prakash Arora

 

 

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

 

Particulars

 

31.03.2014

31.03.2013

31.03.2012

Current Maturities of Long term debt

29.400

21.950

4.341

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

4.65

7.27

 

 

 

 

 

Operating Profit Margin

(PBIDT/Sales)

(%)

NA

12.72

14.89

 

 

 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)

11.99

9.16

19.61

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

0.21

0.18

0.30

 

 

 

 

 

Debt Equity Ratio

(Total Liability/Networth)

 

0.47

0.63

0.16

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

1.32

1.52

1.64

 

 

 

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

3.106

3.106

3.106

Reserves & Surplus

231.877

265.474

312.146

Share Application money pending allotment

0.000

0.000

0.000

Net worth

234.983

268.580

315.252

 

 

 

 

long-term borrowings

14.047

126.302

106.345

Short term borrowings

20.000

21.458

12.996

Current Maturities of Long Term Debt

4.341

21.950

29.400

Total borrowings

38.388

169.710

148.741

Debt/Equity ratio

0.163

0.632

0.472

 

 

 

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 

657.500

702.129

768.025

 

 

6.788

9.385

 

 

 

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 

657.500

702.129

768.025

Profit

47.617

32.546

45.293

 

7.24%

4.64%

5.90%

 

 

 

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)

Yes

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

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

Yes

35

Negative Reporting by Auditors in the Annual Report

No

 

NOTE: Registered office of the company has been shifted from 16/2, Mathura Road, Faridabad, Haryana, India to the present address w.e.f. 01.12.2008

 

 

UNSECURED LOANS

 

PARTICULAR

31.03.2014

(Rs. in Million)

31.03.2013

(Rs. in Million)

LONG TERM BORROWINGS

 

 

Loans and advances from related parties

 

 

Loan from director

54.441

44.905

Loans and advances from other than related parties

 

 

Loan from Uma Sharma

0.000

3.128

Loan from Ramesh Kumar Paulastya

0.000

3.431

Total

54.441

51.464

 

 

INDEX OF CHARGES

 

S. No.

Charge ID

Date of Charge Creation/Modification

Charge amount secured

Charge Holder

Address

Service Request Number (SRN)

1

10419066

22/03/2013

10,000,000.00

SMALL INDUSTRIES DEVELOPMENT BANK OF INDIA

NH-5-R/2, NEELAM BADSHAH KHAN ROAD, NIT, FARIDABA 
D, HARYANA - 121001, INDIA

B72992837

2

10378482

17/01/2013 *

100,000,000.00

CITI BANK N.A.

DLF SQUARE, M BLOCK, JACARANDA MARG, DLF CITY PHASE-II, GURGAON, HARYANA - 122002, INDIA

B66679473

3

10261717

14/01/2011

18,800,000.00

SMALL INDUSTRIES DEVELOPMENT BANK OF INDIA

N.H.5-R/2,NEELAM BADSHAH KHAN ROAD, NIT, FARIDABA 
D, HARYANA - 121001, INDIA

B03348406

4

10059075

25/02/2009 *

30,000,000.00

CITIBANK N.A

JEEVAN BIHAR, 3 SANSAD MARG, NEW DELHI, DELHI - 110001, INDIA

A57427874

5

10057383

25/06/2014 *

120,000,000.00

CITI BANK N.A.

DLF SQUARE, M BLOCK, JACARANDA MARG, DLF CITY, PHASE-II, GURGAON, HARYANA - 122002, INDIA

C19404300

* Date of charge modification

 

 

FIXED ASSETS

  • Vehicle
  • Computers
  • Office equipment
  • Plant and Machinery
  • Electric Installation
  • Land
  • Building
  • Dies and Moulds

 

 

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 records 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. 64.11

UK Pound

1

Rs. 100.32

Euro

1

Rs. 72.17

 

 

INFORMATION DETAILS

 

Information Gathered by :

SUP

 

 

Analysis Done by :

KIN

 

 

Report Prepared by :

TRU

 

 

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

5

--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

YES

--AFFILIATION

YES/NO

YES

--LISTED

YES/NO

NO

--OTHER MERIT FACTORS

YES/NO

YES

DEFAULTER

 

 

--RBI

YES/NO

NO

--EPF

YES/NO

NO

TOTAL

 

47

 

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.
 
 


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