MIRA INFORM REPORT

 

 

Report No. :

348045

Report Date :

02.11.2015

 

IDENTIFICATION DETAILS

 

Name :

SIDHARTH AUTOMAT INDIA PRIVATE LIMITED

 

 

Registered Office :

Plot No.137, Sector-3, IMT Manesar, Gurgaon – 122 050, Haryana

Tel. No.:

91-124-4369014/ 4369016

 

 

Country :

India

 

 

Financials (as on) :

31.03.2014

 

 

Date of Incorporation :

09.08.2006

 

 

Com. Reg. No.:

05-042098

 

 

Capital Investment / Paid-up Capital :

Rs.11.100 million

 

 

CIN No.:

[Company Identification No.]

U27310HR2006PTC042098

 

 

IEC No.:

0505061554

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

RTKS11465G

 

 

PAN No.:

[Permanent Account No.]

AAKCS0864R

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Manufacturer and Importer of Painting Equipments, Sheet Metal Components, Electronic Control Pannel.

 

 

No. of Employees :

130 (Approximately)

 

 

RATING & COMMENTS

 

MIRA’s Rating :

B (28)

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Maximum Credit Limit :

USD 236000

 

 

Status :

Moderate

 

 

Payment Behaviour :

Slow but correct

 

 

Litigation :

Clear

 

 

Comments :

Subject was established in the year 2004 as a partnership concern with the name “Sidharth Automat” and later got converted into private limited in the year 2006 with the name “Sidharth Automat India Private Limited”.

 

It is an having moderate track record.

 

The rating is constrained on account of sharp declined in the turnover and profit of the company during FY 2014.

 

However, trade relations are reported as fair. Business is active. Payment terms are reported as slow but correct.

 

The company can be considered for business dealings with some caution.

 

 

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

 

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 31-03-2015.

 

INFORMATION PARTED BY

 

Name :

Mr. Rakesh Kumar

Designation :

Finance Head 

Contact No.:

91-9871982568 

Date :

31.10.2015

 

 

LOCATIONS

 

Registered Office/ Corporate Office :

Plot No.137, Sector-3, IMT Manesar, Gurgaon – 122 050, Haryana, India

Tel. No. :

91-124-4369014/ 4369016

Mobile No.:

91-9871982568 (Mr. Rakesh Kumar)

Fax No. :

91-124-4369015 

E-Mail :

info@sidharthautomatindia.com

surenderyadav@sidharthautomatindia.in

rakesh@sidharthautomatindia.com 

Website :

http://www.sidharthautomatindia.com

Area :

1000 sq. ft.

Location :

Owned

Locality :

Industrial

 

 

Factory :

C-65, Vigyan Nagar, RIICO Industrial Area, Shahjahanpur, Alwar – 301 706, Rajasthan, India

Tel. No. :

91-1494-235235

Location :

Owned

Locality :

Industrial

 

 

DIRECTORS

 

AS ON 30.09.2014

 

Name :

Mr. Surendra Yadav

Designation :

Director

Address :

362-C, Sector 14, Gurgaon – 122 001, Haryana, India

Date of Birth/Age :

28.02.1972

Date of Appointment :

09.08.2006

DIN No. :

00126620

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

U27310HR2006PTC042098

SIDHARTH AUTOMAT INDIA PRIVATE LIMITED

Director

09/08/2006

09/08/2006

-

Active

NO

2

U29200HR2008PTC038054

SIDHARTH TURNKEY PROJECTS PRIVATE LIMITED

Director

18/06/2008

18/06/2008

-

Active

NO

3

U24100HR2011PTC044428

MARC SURFACE COATINGS PRIVATE LIMITED

Director

29/11/2011

29/11/2011

-

Active

NO

 

 

Name :

Mrs. Shaloo Yadav

Designation :

Director

Address :

362-C, Sector 14, Gurgaon – 122 001, Haryana, India

Date of Birth/Age :

13.06.1976

Date of Appointment :

09.08.2006

DIN No. :

00126648

 

 

KEY EXECUTIVES

 

Name :

Mr. Rakesh Kumar

Designation :

Finance Head

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

AS ON 30.09.2014

 

Names of Shareholders

 

No. of Shares

Percentage of holding

Surendra Yadav

375000

33.78

Shaloo Yadav

575000

51.80

Ram Kishan

10000

0.90

Sidharth Turnkey Projects Private Limited, India

150000

13.52

Total

1110000

100.00

 

 

 

AS ON 30.09.2014

 

Equity Share Break up (Percentage of Total Equity)

 

Category

Percentage of Holding

Bodies corporate

14.00

Directors or relatives of Directors

86.00

Total

100.00

 

 

BUSINESS DETAILS

 

Line of Business :

Manufacturer and Importer of Painting Equipments, Sheet Metal Components, Electronic Control Pannel.

 

 

Products :
  • E-Coat (PT-CED) Line
  • Paint Booths
  • Fabrication
  • Baking Oven
  • Paint Circulation System
  • Robotics
  • Conveyors

 

 

Brand Names :

Not Available

 

 

Agencies Held :

Not Available

 

 

Exports :

Not Available

 

 

Imports :

 

Products :
  • Raw Materials

Countries :
  • USA
  • Germany
  • Japan 

 

 

Terms :

 

Selling :

Cash and Credit

 

 

Purchasing :

Cash and Credit 

 

 

PRODUCTION STATUS: NOT AVAILABLE

 

 

GENERAL INFORMATION

 

Suppliers :

Reference :

Jindal Stainless Steelway Limited, Haryana

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Maximum Limit Dealt :

Not Divulged

Experience :

Payment Behaviour

Market Goodwill

Overall

Not Divulged

Not Divulged

Not Divulged

Remark:

Not Divulged

 

 

Customers :

End Users

 

Reference 1:

Toyota Kirloskar Motor Private Limited, Bangalore

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Maximum Limit Dealt :

Not Divulged

Experience :

Product Quality

Delivery Behaviour

Overall

Not Divulged

Not Divulged

Not Divulged

Remark:

Not Divulged

 

 

Reference 2 :

Parker Engineering India Private Limited

 

 

Reference 3 :

Maruti Suzuki India Limited

 

 

No. of Employees :

130 (Approximately)

 

 

Bankers :

Banker Name

State Bank of Hyderabad

Branch Address

Narsingpur, Carrier Aircon Limited Complex, VOP: Kherkidaula, Gurgaon – 122 001, Haryana, India

Person Name (With Designation)

Ms. Disha Mahajan (Deputyman)

Contact Number

91-124-2214120

Name of Account Holder

Sidharth Automat India Private Limited

Account Number

62216867398

Account Since (Date/Year of Account Opening)

January 2012

Average Balance Maintained (If Possible)

Not Available

Credit Facilities Enjoyed (If any)

Cash Credit = Rs. 20.000 Million

Account Operation

Satisfactory

Remarks (If any)

Banker gave us positive feedback, As claimed by Mr. Disha Mahajah (Deputy Manager), Subject having very good track record for banking transaction.

 

Punjab National Bank, Shahjahnpur, Alwar – 301706, Rajasthan, India

 

 

Facilities :

SECURED LOANS

31.03.2014

(Rs. In Million)

31.03.2013

(Rs. In Million)

SHORT TERM BORROWINGS

 

 

Cash Credit from State Bank of Hyderabad, Narsinghpur, Gurgaon

21.190

21.084

Total

21.190

21.084

 

Notes:

 

Cash Credit:

- Secured by way of hypothecation of present and future stock of raw material, stock-in-process, finished goods, consumables, book debts bills, claims, material in transit etc.

- Collaterally secured by equitable mortgage of factory land and building at Manesar and Shahjahanpur.

- Personal Guarantee of Mr. Surrender Yadav and Mrs. Shaloo Yadav, directors of the company.

- Repayable in 1 year from date of sanction with interest @14.5%, subject to renewal on annual basis.

 

Auditors :

 

Name :

Shiv and Associates

Chartered Accountants

Address :

116-A, Main Vikas Marg, Shakarpur, Delhi – 110 092, India

Tel. No.:

91-11-47350115/ 22021556

E-Mail :

ca_shiv@yahoo.co.in

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

ABAFS9853Q

 

 

Memberships :

Not Available

 

 

Collaborators :

Not Available

 

 

Associates/ Subsidiaries (As confirmed by the Management) :
  • Sidharth Turnkey Projects Private Limited
  • Marc Surface Coatings Private Limited

 

 

CAPITAL STRUCTURE

 

AS ON 30.09.2014

 

Authorised Capital :

No. of Shares

Type

Value

Amount

1150000

Equity Shares

Rs.10/- each

Rs.11.500 million

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

1110000

Equity Shares

Rs.10/- each

Rs.11.100 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

11.100

11.100

11.100

(b) Reserves & Surplus

71.521

71.599

57.368

(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)

82.621

82.699

68.468

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) Long-term borrowings

1.419

2.517

0.000

(b) Deferred tax liabilities (Net)

0.000

0.000

0.000

(c) Other long term liabilities

35.000

35.000

30.000

(d) Long-term provisions

3.563

3.064

2.396

Total Non-current Liabilities (3)

39.982

40.581

32.396

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

30.685

22.178

25.405

(b) Trade payables

18.123

44.003

48.938

(c) Other current liabilities

3.908

12.749

7.614

(d) Short-term provisions

1.106

8.041

9.416

Total Current Liabilities (4)

53.822

86.971

91.373

 

 

 

 

TOTAL

176.425

210.251

192.237

 

 

 

 

II.            ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

108.290

109.701

97.035

(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

1.168

0.708

0.709

(c) Deferred tax assets (net)

0.000

0.000

0.000

(d)  Long-term Loan and Advances

3.879

6.523

4.410

(e) Other Non-current assets

0.000

0.000

0.000

Total Non-Current Assets

113.337

116.932

102.154

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

25.299

17.129

19.908

(c) Trade receivables

28.225

55.346

58.527

(d) Cash and cash equivalents

7.523

9.301

5.268

(e) Short-term loans and advances

2.025

11.526

6.370

(f) Other current assets

0.016

0.017

0.010

Total Current Assets

63.088

93.319

90.083

 

 

 

 

TOTAL

176.425

210.251

192.237

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

31.03.2014

31.03.2013

31.03.2012

 

SALES

 

 

 

 

 

Revenue from Operations

115.982

425.786

384.452

 

 

Other Income

 

 

0.736

 

 

TOTAL                                    

115.982

425.786

385.188

 

 

 

 

 

 

EXPENSES

 

 

 

 

 

TOTAL                                    

104.505

392.181

343.800

 

 

 

 

 

 

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

11.477

33.605

41.388

 

 

 

 

 

 

INTEREST

2.376

3.015

6.436

 

 

 

 

 

 

PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION

9.101

30.590

34.952

 

 

 

 

 

 

DEPRECIATION/ AMORTISATION        

7.954

7.504

6.650

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE TAX

1.145

23.084

28.202

 

 

 

 

 

 

TAX                                                                 

1.106

8.041

9.416

 

 

 

 

 

 

PROFIT/ (LOSS)  AFTER TAX

0.039

15.043

18.886

 

 

 

 

 

 

PREVIOUS YEARS’ BALANCE BROUGHT FORWARD

54.599

40.369

22.713

 

 

 

 

 

 

Earlier Year/ Prior Period Adjustments

(0.118)

(0.813)

(1.230)

 

 

 

 

 

 

BALANCE CARRIED TO THE B/S

54.520

54.599

40.369

 

 

 

 

 

 

EARNINGS IN FOREIGN CURRENCY

USD 90000

Yen 12079225

Yen 16937907

 

 

 

 

 

 

Earnings / (Loss) Per Share (Rs.)

0.04

13.55

NA

 

Particulars

 

 

 

31.03.2015

Sales Turnover (Approximately)

 

 

112.000

 

 

 

(Due to market fluctuation)

 

Expected Sales (2015-2016): Rs.200.000 Million

 

The above information has been parted by Mr. Rakesh Kumar (Finance Head)

 

 

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

Net cash flows from (used in) operations

NA

NA

NA

 

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2014

31.03.2013

31.03.2012

Net Profit Margin

(PAT/Sales)

(%)

NA

NA

4.91

 

 

 

 

 

Operating Profit Margin

(PBDIT/ Sales)

(%)

NA

NA

10.77

 

 

 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)

0.65

11.02

14.72

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

0.01

0.28

0.41

 

 

 

 

 

Debt Equity Ratio

(Total Debt/Networth)

 

0.39

0.30

0.37

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

1.17

1.07

0.99

 

 

FINANCIAL ANALYSIS

[all figures are in Rupees Million]

 

DEBT EQUITY RATIO

 

Particulars

31.03.2012

31.03.2013

31.03.2014

 

Rs. In Million

Rs. In Million

Rs. In Million

Share Capital

11.100

11.100

11.100

Reserves & Surplus

57.368

71.599

71.521

Share Application money pending allotment

0.000

0.000

0.000

Net worth

68.468

82.699

82.621

 

 

 

 

Long-term borrowings

0.000

2.517

1.419

Short term borrowings

25.405

22.178

30.685

Total borrowings

25.405

24.695

32.104

Debt/Equity ratio

0.371

0.299

0.389

 

 

 

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

385.188

425.786

115.982

 

 

10.540

(72.760)

 

 

 

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

385.188

425.786

115.982

Profit

18.886

15.043

0.039

 

4.90%

3.53%

0.03%

 

 

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

Yes

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

Yes

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 four years

Yes

27

Reasons for variation <> 20%

Yes

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: The registered address of the company has been shifted from 31, Satya Niketan, New Delhi – 110 021 to the present address w.e.f. 14.12.2010.

 

 

UNSECURED LOANS

 

PARTICULARS

31.03.2014

(Rs. In Million)

31.03.2013

(Rs. In Million)

LONG TERM BORROWINGS

 

 

Unsecured Loans (The company has availed a vehicle term loan against hypothecation of car having value of Rs.4.235 million.)

1.419

2.517

SHORT TERM BORROWINGS

 

 

Loans and Advances from Related Parties:

 

 

- Sunrendra Yadav

0.795

1.094

- Shaloo Yadav

8.700

0.000

Total

10.914

3.611

 

 

INDEX OF CHARGES

 

S. No.

Charge ID

Date of Charge Creation/Modification

Charge amount secured

Charge Holder

Address

Service Request Number (SRN)

1

10323704

25/09/2012 *

55,000,000.00

STATE BANK OF HYDERABAD

NARSINGPUR, CARRIER AIRCON LIMITED COMPLEX, VOP: 
KHERKIDAULA, GURGAON, HARYANA - 122001, INDIA

B60589769

* Date of charge modification

 

 

FIXED ASSETS:

 

Tangible Assets

·         Leasehold Premises

·         Freehold Premises

·         Factory Buildings

·         Factory Equipments

·         Plant and Machinery

·         Welding Machines

·         Electrical Installation

·         Vehicles

·         Office Buildings

·         Office Equipments

·         Computer

·         Site Office

 

Intangible Assets

·         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, 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.65.22

UK Pound

1

Rs.99.93

Euro

1

Rs.71.66                 

 

 

INFORMATION DETAILS

 

Information Gathered by :

NYA

 

 

Analysis Done by :

DIV

 

 

Report Prepared by :

SUJ

 

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

3

PAID-UP CAPITAL

1~10

3

OPERATING SCALE

1~10

3

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

3

--PROFITABILITY

1~10

3

--LIQUIDITY

1~10

3

--LEVERAGE

1~10

3

--RESERVES

1~10

4

--CREDIT LINES

1~10

3

--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

 

28

 

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.