MIRA INFORM REPORT
|
Report No. : |
310560 |
|
Report Date : |
04.03.2015 |
IDENTIFICATION DETAILS
|
Name : |
REINHART INDIA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
303, DLF South
Court, A-1, Saket District Centre, New Delhi - 110017 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
15.11.2010 |
|
|
|
|
Com. Reg. No.: |
55-210418 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 11.553
Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74140DL2010FTC210418 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
DELR192205E |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAFCR0912A |
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|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject is engaged in the business of Wholesale Trade of
Raw Cotton. It caters to both domestic and international markets. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (49) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 920000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track record. The company is operating on its owned funds. Trade relations are reported as fair. Business is active. Payment terms
are reported to be usually correct and as per commitment. The company can be considered normal for 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 – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
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
|
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
31-03-2014.
LOCATIONS
|
Registered Office : |
303, DLF South Court,
A-1, Saket District Centre, New Delhi – 110017, India |
|
Tel. No.: |
Not Available |
|
Fax No.: |
Not Available |
|
E-Mail : |
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|
Website : |
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|
|
|
Gurgaon Office : |
Unit # - 33, 34, 35, Sector-53,
Augusta Point, Golf Course Road, Sector – 53,
Gurgaon – 122002, Haryana, India |
|
Tel. No.: |
91-124-4497237/ 4497230 |
|
Fax No.: |
91-124-4898398/ 4497241 |
|
E-Mail : |
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|
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|
Global Offices : |
Located at: · Switzerland · Australia · China ·
Beijing |
DIRECTORS
As on: 15.09.2014
|
Name : |
Hussam Arnaout |
|
Designation : |
Managing director |
|
Address : |
Villa 4/6 Emirates Hill, Third Springs, Phase 5 Dubai – 17738, United Arab
Emirates |
|
Date of Birth/Age : |
20.03.1965 |
|
Date of Appointment : |
30.09.2011 |
|
PAN No.: |
AWOPA5717E |
|
DIN No.: |
03248610 |
|
|
|
|
Name : |
Paul Jurg Reinhart |
|
Designation : |
Director |
|
Address : |
Seidenstrasse 39 Winterthur 8400, Switzerland |
|
Date of Birth/Age : |
11.05.1958 |
|
Date of Appointment : |
15.11.2010 |
|
DIN No.: |
03233161 |
|
|
|
|
Name : |
Rolf Stahel |
|
Designation : |
Director |
|
Address : |
Rychenbergstrasse 107C Winterthur 8400, Switzerland |
|
Date of Birth/Age : |
24.04.1958 |
|
Date of Appointment : |
15.11.2010 |
|
DIN No.: |
03231536 |
|
|
|
|
Name : |
Mr. Paresh Jayantilal Kanani |
|
Designation : |
Director |
|
Address : |
WZC 52, Wellington Apartment, DLF Phase V, DLF City, Gurgaon 122002,
Haryana, India |
|
Date of Birth/Age : |
15.11.1979 |
|
Date of Appointment : |
30.09.2013 |
|
DIN No.: |
06389291 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 15.09.2014
|
Names of Shareholders |
No. of Shares |
Percentage |
|
Paul Reinhart AG, Switzerland |
1155163 |
99.99 |
|
Hussam Arnaout Jointly with Paul Reinhart AG, Switzerland |
100 |
0.01 |
|
|
|
|
|
Total |
1155263 |
100.00 |
Equity Share Break up (Percentage of Total Equity)
As on: 15.09.2014
|
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 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in the business of Wholesale Trade of
Raw Cotton. It caters to both domestic and international markets. |
|
|
|
|
Products : |
|
|
|
|
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
Not Available |
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Imports : |
Not Available |
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Terms : |
Not Available |
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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No. of Employees : |
Not Available |
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Bankers : |
Not Available |
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Auditors : |
|
|
Name : |
Mohinder Puri and Company Chartered Accountants |
|
Address : |
1C, Vandhna, 11 Tolstoy Marg, New Delhi – 110001, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AAAFM9269R |
|
|
|
|
Memberships : |
Not Available |
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|
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Collaborators : |
Not Available |
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|
|
Holding company : |
Paul Reinhart AG, Switzerland |
CAPITAL STRUCTURE
As on 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
27,000,000 |
Equity Shares |
Rs.10/- each |
Rs. 270.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1,155,263 |
Equity Shares |
Rs.10/- each |
Rs. 11.553
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 |
11.553 |
11.553 |
5.500 |
|
(b) Reserves & Surplus |
310.817 |
274.498 |
5.781 |
|
(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) |
322.370 |
286.051 |
11.281 |
|
|
|
|
|
|
(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 |
0.371 |
0.673 |
0.143 |
|
Total
Non-current Liabilities (3) |
0.371 |
0.673 |
0.143 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
(b)
Trade payables |
56.510 |
36.402 |
62.307 |
|
(c)
Other current liabilities |
266.305 |
619.821 |
892.431 |
|
(d)
Short-term provisions |
4.674 |
15.437 |
0.144 |
|
Total
Current Liabilities (4) |
327.489 |
671.660 |
954.882 |
|
|
|
|
|
|
TOTAL |
650.230 |
958.384 |
966.306 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
1.793 |
1.680 |
1.568 |
|
(ii)
Intangible Assets |
0.624 |
0.684 |
0.058 |
|
(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) |
2.385 |
4.636 |
0.069 |
|
(d) Long-term Loan
and Advances |
1.556 |
0.537 |
6.033 |
|
(e)
Other Non-current assets |
0.241 |
0.339 |
0.107 |
|
Total
Non-Current Assets |
6.599 |
7.876 |
7.835 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
305.872 |
668.290 |
352.737 |
|
(c)
Trade receivables |
142.165 |
13.709 |
45.787 |
|
(d)
Cash and cash equivalents |
110.980 |
98.885 |
531.591 |
|
(e)
Short-term loans and advances |
81.714 |
169.059 |
18.922 |
|
(f)
Other current assets |
2.900 |
0.565 |
9.434 |
|
Total
Current Assets |
643.631 |
950.508 |
958.471 |
|
|
|
|
|
|
TOTAL |
650.230 |
958.384 |
966.306 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from Operations |
3250.976 |
2302.868 |
869.005 |
|
|
|
Other Income |
63.773 |
32.985 |
14.231 |
|
|
|
TOTAL |
3314.749 |
2335.853 |
883.236 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
3257.695 |
2318.157 |
874.054 |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
57.054 |
18.072 |
9.182 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
0.986 |
0.679 |
0.451 |
|
|
|
|
|
|
|
|
|
Less/ Add |
PRIOR PERIOD
EXPENSES |
0.934 |
0.377 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
55.134 |
17.016 |
8.731 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
18.816 |
6.746 |
2.695 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
36.318 |
10.270 |
6.036 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
F.O.B. Value of exports of raw cotton |
1901.500 |
1939.175 |
852.049 |
|
|
|
Support Services |
0.000 |
0.000 |
7.773 |
|
|
TOTAL EARNINGS |
1901.500 |
1939.175 |
859.822 |
|
|
|
|
|
|
|
|
|
|
Earnings/ (Loss)
Per Share (Rs.) |
31.44 |
17.41 |
11.37 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
1.12 |
0.45 |
0.69 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
8.51 |
1.78 |
0.90 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.17 |
0.06 |
0.77 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.97 |
1.42 |
1.00 |
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 |
5.500 |
11.553 |
11.553 |
|
Reserves & Surplus |
5.781 |
274.498 |
310.817 |
|
Net worth |
11.281 |
286.051 |
322.370 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Total borrowings |
0.000 |
0.000 |
0.000 |
|
Debt/Equity ratio |
0.000 |
0.000 |
0.000 |
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) |
|
Revenue from Operations |
869.005 |
2302.868 |
3250.976 |
|
|
|
165.001 |
41.171 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Revenue from Operations |
869.005 |
2302.868 |
3250.976 |
|
Profit |
6.036 |
10.270 |
36.318 |
|
|
0.69% |
0.45% |
1.12% |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info Agents |
Available in
Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
No |
|
9] |
Name of person contacted |
No |
|
10] |
Designation of contact
person |
No |
|
11] |
Turnover of firm for last
three years |
Yes |
|
12] |
Profitability for last
three years |
Yes |
|
13] |
Reasons for variation
<> 20% |
-- |
|
14] |
Estimation for coming
financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details
(if applicable) |
No |
|
21] |
Market information |
-- |
|
22] |
Litigations that the firm
/ promoter involved in |
-- |
|
23] |
Banking Details |
No |
|
24] |
Banking facility details |
No |
|
25] |
Conduct of the banking
account |
-- |
|
26] |
Buyer visit details |
-- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
Yes |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of Proprietor/Partner/Director,
if available |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
No |
Note: Registered Office
of the company has been shifted from “R - 13 and 14, LGF, Ansal Chamber – II 6,
Bhikaji Cama Place, New Delhi-110066, India” to the present address w.e.f.
01.11.2012.
NDEX OF CHARGES: NO
CHARGES EXIST FOR COMPANY
CORPORATE INFORMATION
Subject is a private company domiciled in India and
incorporated under the provisions of the Companies Act, 1956. The Company is
engaged in the business of Wholesale Trade of Raw Cotton. It caters to both
domestic and international markets.
RESULTS FROM OPERATIONS
AND PRESENT AND FUTURE OUTLOOK:
During the year, the company has earned Net profit (after tax) of Rs.36.318 Million on stand-alone basis and achieved a turnover of Rs. 3250.976 Million during the financial year ended on 31st March, 2014. The Profit before tax d for the year was Rs. 55.134 Million and continuous efforts are being done by the management to maximize the wealth of company.
FIXED ASSETS:
· Plant and equipment
· Other plant and equipment
· Furniture and fixtures
· Vehicles
· Motor vehicles
· Office equipment
· Computer equipments
· Other equipments
· Computer software
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.61.84 |
|
|
1 |
Rs.95.14 |
|
Euro |
1 |
Rs.69.25 |
INFORMATION DETAILS
|
Analysis Done by
: |
RSM |
|
|
|
|
Report Prepared
by : |
MTN |
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 |
|
--PROFITABILITY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
6 |
|
--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 |
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 |
|
49 |
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.