MIRA INFORM REPORT

 

 

Report No. :

328664

Report Date :

24.06.2015

 

IDENTIFICATION DETAILS

 

Name :

TERMINAL TECHNOLOGIES (INDIA) PRIVATE LIMITED

 

 

Registered Office :

Office No. 701, 7th Floor, Agarwal B2B Centre, Kanchpada Lane, Malad (west), Mumbai- 400064, Maharashtra

Tel. No.:

91-22-28752084

 

 

Country :

India

 

 

Financials (as on) :

31.03.2014

 

 

Date of Incorporation :

29.03.1993

 

 

Com. Reg. No.:

11-071352

 

 

Capital Investment / Paid-up Capital :

Rs. 3.010 Million

 

 

CIN No.:

[Company Identification No.]

U74999MH1993PTC071352

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

MUMT10088B

 

 

PAN No.:

[Permanent Account No.]

AAACT1767E

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Manufacturer and Exporter of Automotive and Appliance Inter-Connect Components such as Cable terminals and Connectors.

 

 

No. of Employees :

250 (Approximately)

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba (52)

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

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

Satisfactory

 

Status :

Good

 

 

Payment Behaviour :

Regular

 

 

Litigation :

Clear 

 

 

Comments :

Subject is a well –established company having fine track record.

 

The rating reflects company’s healthy operational risk profile marked by sound financial base and fair 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.

 

 

 

 

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. Satish

Designation :

Accounts Executive

Contact No.:

91-250-6453661

Date :

22.06.2015

 

 

LOCATIONS

 

Registered Office :

Office No. 701, 7th Floor, Agarwal B2B Centre, Kanchpada Lane, Malad (west), Mumbai- 400064, Maharashtra, India

Tel. No.:

91-22-28752084

Fax No.:

91-22-28759810

E-Mail :

accounts@terminaltechnology.com

caa@terminaltechnology.com

sales@terminaltechnology.com

Website :

http://www.terminaltechnology.com

Location :

Owned

 

 

Head Office/ Factory 1 :

Terminal House, Building No. 3, Merchant Industrial Complex, Valiv, Vasai (East), District Thane - 401202, Maharashtra, India

Tel. No.:

91-250-2456253/ 2456255

Fax No.:

91-250-2456154

Location :

Rented

 

 

Factory 2 :

Gut No. 312/2, Nanekarwadi Industrial Area, Opposite Bosch Chasis Systems, Chakan, Pune - 410 501, Maharashtra, India

Tel. No.:

91-2135-660694 /95 / 97

 

 

DIRECTORS

 

AS ON 30.09.2014

 

Name :

Anto Chirayath Anthony

Designation :

Managing director

Address :

602, Farry Apartment, Marve Road, Malad (West), Mumbai - 400064, Maharashtra, India

Date of Birth/Age :

22.05.1966

Date of Appointment :

29.03.1993

DIN No.:

00890215

 

 

Name :

Mr. Sanjay Vanraj Negandhi

Designation :

Director

Address :

A-19, Sai - Milap,, Saibaba Complex, Ciba Road, Goregaon (East), Mumbai - 400063, Maharashtra, India

Date of Birth/Age :

09.03.1966

Date of Appointment :

03.05.1999

DIN No.:

00890393

 

 

KEY EXECUTIVES

 

Name :

Mr. Satish

Designation :

Accounts Executive

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

AS ON 30.09.2014

 

Names of Shareholders

No. of Shares

 

Anto Chirayath Anthony

14720

Sanjay Vanraj Negandhi

9730

Sonal Sanjay Negandhi

5380

Asha Chirayath Anto

250

Divyang Monanni

10

R. B. Rappai

10

 

 

Total

 

30100

 

 

 

AS ON 30.09.2014

 

Equity Share Breakup

Percentage of Holding

Category

 

Directors or relatives of directors

100.00

 

 

Total

 

100.00

 

 

 

BUSINESS DETAILS

 

Line of Business :

Manufacturer and Exporter of Automotive and Appliance Inter-Connect Components such as Cable terminals and Connectors.

 

 

Brand Names :

--

 

 

Agencies Held :

--

 

 

Exports :

 

Products :

·         Finished Goods

Countries :

·         European Countries

·         USA

·         UK

·         South East

 

 

Imports :

 

Products :

Raw Material

Countries :

European Countries

 

 

Terms :

 

Selling :

Depend

 

 

Purchasing :

Depend

 

 

PRODUCTION STATUS: NOT AVAILABLE

 

 

GENERAL INFORMATION

 

Suppliers :

Reference:

Not Divulged

Name of the Person (Designation):

Not Divulged

Contact Number:

Not Divulged

Since how long known:

Not Divulged

Maximum limit dealt:

Not Divulged

Experience:

Not Divulged

Remark

Not Divulged

 

 

Customers :

Manufacturer

 

Reference:

Ashok Leyland

Name of the Person (Designation):

Not Divulged

Contact Number:

Not Divulged

Since how long known:

Not Divulged

Maximum limit dealt:

Not Divulged

Experience:

Not Divulged

Remark

Not Divulged

 

·         Bajaj

·         Delphi

·         Eicher

·         Hero Honda

·         Honda

·         Honeywell

·         LML Motorcycle and Scooter

·         Lumax Aotomotive Parts

·         Mahindra and Mahindra

·         Maruti

·         Minda

·         Swaraj Mazda

·         Tata

·         TVS

 

 

No. of Employees :

250 (Approximately)

 

 

Bankers :

Bank Name:

Oriental Bank of Commerce

Branch:

Malad (West) Branch, Vikas Chambers, Ground Floor, Link Road, Malad (West), Mumbai - 400064, Maharashtra, 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 A/c Opening):

Not Divulged

Average Balance Maintained (Optional):

Not Divulged

Credit Facilities Enjoyed (CC/OD/Term Loan):

Not Divulged

Account Operation:

Not Divulged

Remarks:

Not Divulged

 

·         HDFC Bank Limited

·         Mandavi Co-operative Bank Limited

·         Bank of India

·         ICICI Bank Limited

 

 

Facilities :

SECURED LOANS

31.03.2014

(Rs. In Million)

31.03.2013

(Rs. In Million)

LONG-TERM BORROWINGS

 

 

Term Loan

 

 

Loan from OBC Malad (west) (AG Mortgage of plant and machinery)

20.884

29.242

Loan from OBC Malad (West) (AG Bank for)

0.000

5.427

Axis Bank Car Loan-Mercedes (AG mortgage of motor car)

2.868

3.675

Loan from South Indian Bank (AG bank for)

18.711

19.393

Loan from Yes Bank (Car Loan)

2.077

0.000

 

 

 

SHORT TERM BORROWINGS

 

 

From Bank

 

 

Cash Credit from Bank (AG hypothecation of inventories books debts are receivable)

13.824

14.422

 

 

 

Total

 

58.364

72.159

 

Banking Relations :

--

 

 

Auditors :

 

Name :

M.S. Sheth and Associates

Chartered Accountants

Address :

B-101, Nehru Nagar, Madhukunj Cooprative Housing Society Limited, Building No.87, Opposite New English Road, Nehru Nagar, Kurla (East), Mumbai – 400024, Maharashtra, India

Tel. No.:

91-22-52705020/ 52605078

Income-tax PAN of auditor or auditor's firm :

AAOPS2537G

 

 

Associates/Subsidiaries :

Not Available

 

 

CAPITAL STRUCTURE

 

AS ON 31.03.2014

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

50,000

Equity Shares

Rs. 100/- each

Rs. 5.000 Million

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

30,100

Equity Shares

Rs. 100/- each

Rs. 3.010 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

3.010

3.010

3.010

(b) Reserves & Surplus

443.382

387.783

338.876

(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)

446.392

390.793

341.886

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) Long-term borrowings

44.540

57.737

51.387

(b) Deferred tax liabilities (Net)

7.388

8.252

6.283

(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)

51.928

65.989

57.670

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

21.565

22.346

19.240

(b) Trade payables

80.551

76.686

75.175

(c) Other current liabilities

14.576

12.041

10.629

(d) Short-term provisions

31.024

24.542

32.136

Total Current Liabilities (4)

147.716

135.615

137.180

 

 

 

 

TOTAL

646.036

592.397

536.736

 

 

 

 

II.            ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

187.490

199.033

166.689

(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

1.011

1.011

1.011

(c) Deferred tax assets (net)

0.000

0.000

0.000

(d)  Long-term Loan and Advances

0.000

0.000

0.000

(e) Other Non-current assets

13.267

13.308

13.088

Total Non-Current Assets

201.768

213.352

180.788

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

94.355

79.012

75.695

(c) Trade receivables

227.768

192.659

174.527

(d) Cash and cash equivalents

85.913

73.615

0.894

(e) Short-term loans and advances

36.232

33.759

104.832

(f) Other current assets

0.000

0.000

0.000

Total Current Assets

444.268

379.045

355.948

 

 

 

 

TOTAL

646.036

592.397

536.736

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

 

31.03.2014

31.03.2013

31.03.2012

 

SALES

 

 

 

 

 

TOTAL                                    

718.783

659.345

646.470

 

 

 

 

 

Less

EXPENSES

NA

NA

NA

 

 

 

 

 

 

PROFIT / (LOSS) BEFORE TAX            

NA

NA

NA

 

 

 

 

 

Less

TAX                                                                 

NA

NA

NA

 

 

 

 

 

 

PROFIT / (LOSS) AFTER TAX

57.359

50.657

67.524

 

 

 

 

 

 

EARNINGS IN FOREIGN CURRENCY

 

 

 

 

 

Sales

19.343

30.137

21.033

 

 

 

 

 

 

IMPORTS

 

 

 

 

 

Raw Materials

43.007

2.947

0.000

 

 

Capital Goods

4.781

36.890

31.204

 

 

Advance for Capital Goods

0.000

0.000

3.670

 

TOTAL IMPORTS

47.788

39.837

34.874

 

 

 

 

 

 

Earnings Per Share (Rs.)

1905.61

1682.96

2243.32

 

 

PARTICULARS

 

 

 

31.03.2015

Sales Turnover (Approximately)

 

 

900.000

 

 

 

 

 

The above information has been parted by Mr. Satish (Accounts Executive).

 

 

 

 

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

92.365

107.575

 

 

KEY RATIOS

 

 

PARTICULARS

 

 

31.03.2014

31.03.2013

31.03.2012

 

 

 

 

 

Debt Equity Ratio

(Total Liability/Networth)

 

0.15

0.20

0.21

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

3.01

2.80

2.59

 

 

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

3.010

3.010

3.010

Reserves & Surplus

338.876

387.783

443.382

Money received against share warrants

0.000

0.000

0.000

Share Application money pending allotment

0.000

0.000

0.000

Net worth

341.886

390.793

446.392

 

 

 

 

Long-term borrowings

51.387

57.737

44.540

Short term borrowings

19.240

22.346

21.565

Total borrowings

70.627

80.083

66.105

Debt/Equity ratio

0.207

0.205

0.148

 

 

 

 

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

646.470

659.345

718.783

 

 

1.992

9.015

 

 

 

 

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

646.470

659.345

718.783

Profit

67.524

50.657

57.359

 

10.45%

7.68%

7.98%

 

 

 

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

No

18

Major suppliers

No

19

Major customers

Yes

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

 

 

 

INDEX OF CHARGES

 

S.NO.

CHARGE ID

DATE OF CHARGE CREATION/MODIFICATION

CHARGE AMOUNT SECURED

CHARGE HOLDER

ADDRESS

SERVICE REQUEST NUMBER (SRN)

1

10361554

06/06/2012

25,000,000.00

ORIENTAL BANK OF COMMERCE

MALAD (WEST) BRANCH, VIKAS CHAMBERS, GROUND FLOOR, LINK ROAD, MALAD (WEST), MUMBAI - 400064, MAHARASHTRA, INDIA

B42014530

2

10261380

24/12/2010

25,000,000.00

ORIENTAL BANK OF COMMERCE

MALAD (WEST) BRANCH, VIKAS CHAMBERS, GROUND FLOOR, LINK ROAD, MALAD (WEST), MUMBAI - 400064, MAHARASHTRA, INDIA

B03500790

3

10193034

23/12/2009

11,000,000.00

ORIENTAL BANK OF COMMERCE LIMITED

MALAD (WEST) BRANCH, VIKAS CHAMBERS, GROUND FLOOR, LINK ROAD, MALAD (WEST), MUMBAI - 400064, MAHARASHTRA, INDIA

A75763581

4

10103538

22/05/2008

4,000,000.00

ORIENTAL BANK OF COMMERCE

MALAD(WEST) BRANCH, VIKAS CHAMBERS, GROUND FLOOR, LINK ROAD , MALAD(WEST), MUMBAI, MUMBAI - 400064, MAHARASHTRA, INDIA

A38823365

5

10103539

22/05/2008

15,000,000.00

ORIENTAL BANK OF COMMERCE

MALAD(WEST) BRANCH, VIKAS CHAMBERS, GROUND FLOOR, LINK ROAD , MALAD (WEST), MUMBAI - 400064, MUMBAI, MAHARASHTRA, INDIA

A38823845

6

10033331

16/01/2007

10,000,000.00

ORIENTAL BANK OF COMMERCE

MALAD(WEST) BRANCH, VIKAS CHAMBERS, GROUND FLOOR, LINK ROAD , MALAD (WEST), MUMBAI - 400064, MUMBAI, MAHARASHTRA, INDIA

A09270992

7

80021265

18/08/2012 *

77,500,000.00

ORIENTAL BANK OF COMMERCE

MALAD (WEST) BRANCH, VIKAS CHAMBERS, GROUND FLOOR, LINK ROAD, MALAD (WEST), MUMBAI - 400064, MAHARASHTRA, INDIA

B57760464

8

80021261

18/08/2012 *

77,500,000.00

ORIENTAL BANK OF COMMERCE

MALAD (WEST) BRANCH, VIKAS CHAMBERS, GROUND FLOOR, LINK ROAD, MALAD (WEST), MUMBAI - 400064, MAHARASHTRA, INDIA

B57759086

9

80021264

24/12/2010 *

16,500,000.00

ORIENTAL BANK OF COMMERCE

MALAD(WEST) BRANCH, VIKAS CHAMBERS, GROUND FLOOR, LINK ROAD , MALAD (WEST), MUMBAI - 400002, MAHARASHTRA, INDIA

B03499969

10

80021263

18/08/2012 *

77,500,000.00

ORIENTAL BANK OF COMMERCE

MALAD (WEST) BRANCH, VIKAS CHAMBERS, GROUND FLOOR, LINK ROAD, MALAD WEST, MUMBAI - 400064, MAHARASHTRA, INDIA

B57759805

 

* Date of charge modification

 

 

 

UNSECURED LOANS

 

PARTICULARS

31.03.2014

(Rs. In Million)

31.03.2013

(Rs. In Million)

SHORT TERM BORROWINGS

 

 

C.A. Anto

4.100

4.100

S. V. Nagandhi

2.200

2.200

Asha Anto

0.987

0.824

Sonal Nagandhi

0.054

0.100

Usha Nagandhi

0.400

0.400

C. I. Rappal

0.000

0.300

 

 

 

Total

 

7.741

7.924

 

 

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.63.64

UK Pound

1

Rs.100.41

Euro

1

Rs.71.63

 

 

INFORMATION DETAILS

 

Information Gathered by :

KMN

 

 

Analysis Done by :

KAR

 

 

Report Prepared by :

ARC

 

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

6

PAID-UP CAPITAL

1~10

6

OPERATING SCALE

1~10

6

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

6

--PROFITABILIRY

1~10

6

--LIQUIDITY

1~10

6

--LEVERAGE

1~10

5

--RESERVES

1~10

6

--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

NO

--LISTED

YES/NO

NO

--OTHER MERIT FACTORS

YES/NO

YES

DEFAULTER

 

 

--RBI

YES/NO

NO

--EPF

YES/NO

NO

TOTAL

 

52

 

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.