|
Report No. : |
322478 |
|
Report Date : |
18.05.2015 |
IDENTIFICATION DETAILS
|
Name : |
SOJITZ INDIA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
7th Floor, Eros Corporate Tower, |
|
Tel. No.: |
91-11-66426400 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
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|
|
|
Date of
Incorporation : |
29.03.2005 |
|
|
|
|
Com. Reg. No.: |
55-134445 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 80.000 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U51909DL2005PTC134445 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
DELS26586A |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAICS8883N |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
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|
|
|
Line of Business
: |
Subject is engaged in trading of Chemicals and Plastics |
|
|
|
|
No. of Employees
: |
Not Divulged |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (48) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 1100000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
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|
|
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Litigation : |
Clear |
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|
|
Comments : |
Subject is a subsidiary of “Sojitz Asia Pte Limited, Singapore”. It is an established company having satisfactory track record. The rating reflects company sound financial risk profile marked by
healthy net worth position and fair profitability of the company. Trade relations are reported as fair. Business is active. Payments
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 (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
|
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.
INFORMATION DENIED BY
|
Name : |
Mr. Abhinav |
|
Designation : |
Account Department |
|
Contact No.: |
91-11-66426400 |
|
Date : |
14.05.2015 |
LOCATIONS
|
Registered Office/ Head Office : |
7th Floor, Eros Corporate Tower, |
|
Tel. No.: |
91-11-66426400 |
|
Fax No.: |
91-11-66426401 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Branch Office : |
Polyhose Tower (SPIC “ Annexe Building”), No.86, 8th Floor,
<ount Road, Guindy, Chennai – 600032, Tamilnadu, India |
|
Tel. No.: |
91-44-22353001/ 3002 |
|
Fax No.: |
91-44-22353007 |
DIRECTORS
As on: 30.09.2014
|
Name : |
Mr. Konishi Masazumi |
|
Designation : |
Managing Director |
|
Address : |
D-1/45, Ground Floor, and Basement, Vasant Vihar, New Delhi – 110057,
India |
|
Date of Birth/Age : |
05.02.1960 |
|
Date of Appointment : |
01.11.2012 |
|
DIN No.: |
06418894 |
|
|
|
|
Name : |
Mr. Masahiro Matsushita |
|
Designation : |
Director |
|
Address : |
S-54, Second Floor, Panchsheel Park, Delhi – 110017, India |
|
Date of Birth/Age : |
30.08.1960 |
|
Date of Appointment : |
01.01.2012 |
|
DIN No.: |
00288035 |
|
|
|
|
Name : |
Koichi Yasuhiru |
|
Designation : |
Director |
|
Address : |
A-404/A-404A, |
|
Date of Birth/Age : |
14.09.1955 |
|
Date of Appointment : |
28.09.2011 |
|
DIN No.: |
03555602 |
KEY EXECUTIVES
|
Name : |
Mr. Abhinav |
|
Designation : |
Account Department |
|
|
|
|
Name : |
Mr. Abhinav Kumar |
|
Designation : |
Secretary |
|
Address : |
B/64-A, Phase II, Ashok Vihar, |
|
Date of Birth/Age : |
27.10.1978 |
|
Date of Appointment : |
04.04.2007 |
|
PAN No: |
AQWPK2648E |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 30.09.2014
|
Names of Shareholders |
|
No. of Shares |
|
Sojitz Asia Pte. Limited, |
|
7999999 |
|
Sojitz Group Management of Asia Limited, |
|
1 |
|
Total |
|
8000000 |
Equity Share Break up (Percentage of Total Equity)
As on: 30.09.2014
|
Category |
|
Percentage |
|
|
|
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
100.00 |
|
|
|
|
|
Total
|
|
100.00 |

BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in trading of Chemicals and Plastics |
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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 : |
Not Divulged |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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No. of Employees : |
Not Divulged |
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Bankers : |
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Facilities : |
Working capital demand loan taken from bank carrying
interest at 17.50% p.a., computed on a daily basis on the actual amount
utilized and repayable on demand. The maximum eligible limit of the loan is
Rs. 270.000 million which has been guaranteed by Sojitz Corporation, Japan
and the ultimate holding Company. |
|
|
|
|
Auditors : |
|
|
Name : |
BSSR and Company Chartered Accountants |
|
Address : |
Building No. 10, 8th Floor, Tower B, DLF Cyber City,
Phase - II , Gurgaon-122002, Haryana, India |
|
Email: |
|
|
PAN No.: |
AAKFB4430H |
|
|
|
|
Memberships : |
Not Available |
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|
|
|
Collaborators : |
Not Available |
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Ultimate Holding
Company: |
Sojitz Corporation, Japan |
|
|
|
|
Holding Company : |
Sojitz Asia Pte. Limited, Singapore |
|
|
|
|
Fellow
Subsidiaries: |
|
CAPITAL STRUCTURE
As on: 30.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
13200000 |
Equity Shares |
Rs.10/- each |
Rs.132.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
8000000 |
Equity Shares |
Rs.10/- each |
Rs.80.000
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 |
80.000 |
80.000 |
80.000 |
|
(b) Reserves & Surplus |
307.946 |
226.618 |
147.600 |
|
(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) |
387.946 |
306.618 |
227.600 |
|
|
|
|
|
|
(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 |
14.382 |
9.797 |
8.215 |
|
(d) long-term
provisions |
14.052 |
12.417 |
9.547 |
|
Total Non-current
Liabilities (3) |
28.434 |
22.214 |
17.762 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term
borrowings |
40.000 |
0.000 |
0.000 |
|
(b) Trade payables |
165.276 |
218.103 |
271.017 |
|
(c) Other current
liabilities |
38.860 |
19.349 |
10.361 |
|
(d) Short-term
provisions |
17.696 |
23.669 |
16.269 |
|
Total Current
Liabilities (4) |
261.832 |
261.121 |
297.647 |
|
|
|
|
|
|
TOTAL |
678.212 |
589.953 |
543.009 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
47.669 |
48.356 |
48.091 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
0.000 |
0.000 |
0.000 |
|
(iv) Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax
assets (net) |
17.034 |
20.462 |
14.431 |
|
(d) Long-term Loan and Advances |
82.172 |
83.101 |
42.119 |
|
(e) Other
Non-current assets |
0.115 |
0.090 |
0.091 |
|
Total Non-Current
Assets |
146.990 |
152.009 |
104.732 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
71.336 |
40.634 |
63.311 |
|
(c) Trade receivables |
341.804 |
251.454 |
276.148 |
|
(d) Cash and cash
equivalents |
33.767 |
61.744 |
39.991 |
|
(e) Short-term loans
and advances |
83.704 |
83.362 |
57.336 |
|
(f) Other current
assets |
0.611 |
0.750 |
1.491 |
|
Total Current Assets |
531.222 |
437.944 |
438.277 |
|
|
|
|
|
|
TOTAL |
678.212 |
589.953 |
543.009 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Income |
|
|
|
|
|
Other Income |
|
|
|
|
|
TOTAL |
3709.712 |
1305.802 |
1128.713 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
TOTAL |
3566.175 |
1186.504 |
1104.975 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
143.537 |
119.298 |
23.738 |
|
|
|
|
|
|
|
Less |
TAX |
62.208 |
40.280 |
9.931 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
81.329 |
79.018 |
13.807 |
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’ BALANCE
BROUGHT FORWARD |
226.618 |
147.600 |
133.793 |
|
|
|
|
|
|
|
|
BALANCE CARRIED TO THE
B/S |
307.946 |
226.617 |
147.600 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (Rs.) |
10.17 |
9.88 |
1.72 |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current Maturities of Long term debt |
0.000 |
0.000 |
0.000 |
|
Cash generated from operations |
NA |
NA |
NA |
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Return on Total Assets (PBT/Total Assets} |
(%) |
21.71 |
20.95 |
4.49 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.37 |
0.39 |
0.10 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.10 |
0.00 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.03 |
1.68 |
1.47 |
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 |
80.000 |
80.000 |
80.000 |
|
Reserves & Surplus |
147.600 |
226.618 |
307.946 |
|
Net worth |
227.600 |
306.618 |
387.946 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
0.000 |
0.000 |
40.000 |
|
Current
Maturities of Long-term debts |
0.000 |
0.000 |
0.000 |
|
Total borrowings |
0.000 |
0.000 |
40.000 |
|
Debt/Equity ratio |
0.000 |
0.000 |
0.103 |

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 |
1128.713 |
1305.802 |
3709.712 |
|
|
|
15.689 |
184.095 |

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 |
1128.713 |
1305.802 |
3709.712 |
|
Profit |
13.807 |
79.018 |
81.328 |
|
|
1.22% |
6.05% |
2.19% |

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 |
No |
|
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 |
Yes |
|
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 |
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% |
No |
|
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 |
No |
|
33 |
Market information |
No |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
Note:
Registered Office of the company has been shifted from “2nd Floor,
Mercantile House, 15, Kasturba, Gandhi Marg, New Delhi – 110001, India” to the
present Address w.e.f. 29.08.2011.
FINANCIAL
PERFORMANCE:
The Company, after expansion and diversification its principal/indent business in domestic as well as international aspect during the year, has been performing relatively well. This has been reflected by magnificent upsurge in total income as compared to the last year although the actual picture has been shadowed by increase in expenditure resulting from inflation and ancillary factors. Automobile, machinery, chemicals, iron-ore, foods and plastics divisions are the main fields in which the Company had succeeded in its principal business. Further, Company is also doing domestic business in trading of Chemicals and Plastics.
The Company has uninterruptedly maintained its strategy regarding minimization of credit and performance risks. Further, it adheres to continue its plans regarding utmost commitment with minimization of expenditure, keeping in view the boom phase of Indian economy.
INDEX OF
CAHREGS: NO CHARGES EXIST FOR
COMPANY
CONTINGENT
LIABILITIES:
(Rs. in million)
|
PARTICULARS |
31.03.2014 |
|
Other money for which company is contingently liable |
835.084 |
|
Total |
835.084 |
FIXED ASSETS:
v Leasehold Improvements
v Office Equipments
v Computers
v Furniture and Fixture
v Vehicles
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.63.58 |
|
|
1 |
Rs.100.30 |
|
Euro |
1 |
Rs.72.38 |
INFORMATION DETAILS
|
Information
Gathered by : |
DPA |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
MTN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILITY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--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 |
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 |
|
48 |
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.