MIRA INFORM REPORT

 

 

Report No. :

348925

Report Date :

07.11.2015

 

IDENTIFICATION DETAILS

 

Name :

AMALGAMATED INDUSTRIAL COMPOSITES PRIVATE LIMITED

 

 

Registered Office :

Bhogilal Contractor Bunglow, Opposite Old Pilot Dairy, Kankaria, Ahmedabad – 380022, Gujarat

Tel. No.:

91-253-6699949

 

 

Country :

India

 

 

Financials (as on) :

31.03.2014

 

 

Date of Incorporation :

17.01.1980

 

 

Com. Reg. No.:

04-003620

 

 

Capital Investment / Paid-up Capital :

Rs.0.490 Million

 

 

CIN No.:

[Company Identification No.]

U32201GJ1980PTC003620

 

 

IEC No.:

Not Divulged

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

NSKA01371G

 

 

PAN No.:

[Permanent Account No.]

Not Available

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Manufacturer of Composite Industrial Products.

 

 

No. of Employees :

75 (Approximately)

 

 

RATING & COMMENTS

 

MIRA’s Rating :

B (27)

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Status :

Moderate

 

 

Payment Behaviour :

Slow but correct

 

 

Litigation :

Clear

 

 

Comments :

Subject is an established private limited company incorporated in the year 1980, having moderate track.

 

The rating takes into consideration moderate financial risk profile of the company marked by minimal networth base along with leverage capital structure of the company in FY 14.

 

Moreover, company has reported moderate decrease in its sales turnover and has earned low profit margin from its relatively modest scale of operations..

 

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

 

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

 

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 31-03-2015.

 

 

INFORMATION PARTED BY

 

Name :

Mr. Akshay

Designation :

Accountant

Contact No.:

91-0253-238285 / 253-6699949

Date :

30.06.2015

 

 

LOCATIONS

 

Registered Office :

Bhogilal Contractor Bunglow, Opposite Old Pilot Dairy, Kankaria, Ahmedabad – 380022, Gujarat, India

Tel. No.:

91-253-6699949

Mobile No.:

91-9821074054(Mr. Amit)

Fax No.:

91-253-2380963

E-Mail :

maheshwari.pawan@hotmail.com

aicomposites@gmail.com 

Website :

http://www.aicomposites.com

Area :

500 Sq. Ft.

Location :

Owned

 

 

Head Office :

Unit No.111/112, Ashok Services Industrial Estate, L. B. S. Marg, Bhandup (West), Mumbai – 400 078, Maharashtra, India 

Tel. No.:

91-22-25964566/ 25963611

Fax No.:

91-22-25913611/ 25346920

E-Mail :

info@aicomposites.com

Website :

http://www.aicomposites.com

Area :

700 Sq. Ft.

 

 

Factory  :

Plot No. D-51, MIDC, Ambad, Nashik – 422010, Maharashtra, India

Tel. No.:

91-253-2382851/ 2380963

Fax No.:

91-253-2383351

E-Mail :

aicompositen_nsk@dataone.in

Area :

4050 Sq. Ft.

Location :

Owned

 

 

DIRECTORS

 

AS ON: 30.09.2014

 

Name :

Mr. Dushyant Pyarelal Maheshwary

Designation :

Managing Director

Address :

Garden Estate A-403, Pokharan No.1, Khopat Manpada, Thane (West), Thane-400601, Maharashtra, India

Date of Birth/Age :

30.11.1976

Date of Appointment :

20.06.2005

DIN No.:

01899229

 

 

Name :

Mr. Pyarelal Pannalal Maheshwary

Designation :

Director

Address :

Garden Estate Co-operative Housing Society, Flat No.403 and 404, ‘A’ Wing, Khopat, Pokharan Road No. 1, Thane (West), Thane – 400 601, Maharashtra, India

Date of Birth/Age :

18.06.1947

Date of Appointment :

28.06.1981

DIN No.:

01899152

 

 

Name :

Mr. Amit Pyarelal Maheshwary

Designation :

Director

Address :

Garden Estate Co-operative Housing Society, Flat No.403 and 404, ‘A’ Wing, Khopat, Pokharan Road No. 1, Thane (West), Thane – 400 601, Maharashtra, India

Date of Birth/Age :

01.12.1979

Date of Appointment :

26.03.2005

DIN No.:

01899181

 

 

KEY EXECUTIVES

 

Name :

Jai Prakash Ramcharitra Singh

Designation :

Company Secretary

 

 

Name :

Mr. Akshay

Designation :

Accountant

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

AS ON: 30.09.2014

 

Names of Shareholders

 

No. of Shares

Maheshwari Rakesh Kumar Pannalal

 

1810

Maheshwari Pyarelal Amit

 

3100

Maheshwary Pyarelal Pannalal

 

29600

Maheshwary Aruna Devi Pannalal

 

9500

Maheshwary Vasuda Rakesh

 

400

Maheshwari Dushyant Pyarelal

 

4590

 

 

 

Total

 

49000

 

Equity Share Break up (Percentage of Total Equity)

 

AS ON: 30.09.2014

 

Category

Percentage

Directors or relatives of Directors

100.00

Total

100.00

 

 

 

BUSINESS DETAILS

 

Line of Business :

Manufacturer of Composite Industrial Products.

 

 

Products :

·         Articulated Piping Systems             

·         Main Components of Loading Arms

·         BMC/DMC/SMC                             

·         Grating and Ladders

·         FRP Products                                

·         Helipads

·         Shelters                                         

·         Doors

·         Canopies                                       

·         Ducting

·         Axial Flow Fans                              

·         Industrial Blowers

·         Hoods                                           

·         Platform

·         Junction Boxes                              

·         Body Works

·         Bike Fairings                                  

·         Automobile Body Panels

·         Insulation Products                         

·         Generator Wedges

·         Slots                                             

·         Grids

·         Shafts                                           

·         Poles

·         Radomes                                       

·         Chequered Plates

·         Railway Toilet Modules                   

·         Mobile Toilets

·         Tanks                                             

·         PP FRP Tanks

·         Chemical Process Equipments        

·         Moulded Products

·         Lightining Arrestors                        

·         Rapper Shafts

·         Fire Boxes                                     

·         Sheets

·         Pultruded Products                        

·         Windmill Blades

·         Cooling Towers

 

 

Brand Names :

Not Available

 

 

Agencies Held :

Not Available

 

 

Exports :

Not Available

 

 

Imports :

Not Available

 

 

Terms :

 

Selling :

Cash and Credit (30/ 60/ 90 Days)

 

 

Purchasing :

Cash and Credit (30/ 60/ 90 Days)

 

 

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

Maximum Limit Dealt :

Not Divulged

Experience :

Not Divulged

Remark:

Not Divulged

 

 

Customers :

End Users and OEMs

Reference :

Not Divulged

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Maximum Limit Dealt :

Not Divulged

Experience :

Not Divulged

Remark:

Not Divulged

 

 

No. of Employees :

75 (Approximately)

 

 

Bankers :

Banker Name

Punjab National Bank

Branch Address

K C Dadar Branch, Dadar (East), Mumbai – 400014, Maharashtra, India

Person Name (With Designation)

Not Available

Contact Number

91-22-24113335 (Number not responding)

Name of Account Holder

Not Available

Account Number

Not Available

Account Since (Date/Year of Account Opening)

Not Available

Average Balance Maintained (If Possible)

Not Available

Credit Facilities Enjoyed (If any)

Not Available

Account Operation

Not Available

Remarks (If any)

Not Available

 

·         Punjab National Bank, Nashik, Maharashtra, India

 

 

Facilities :

(Rs. In Million)

SECURED LOAN

As on

31.03.2014

As on

31.03.2013

LONG TERM BORROWING

 

 

Term Loan from Banks

(Secured Against Plant and Machinery)

4.651

6.475

 

 

 

SHORT TERM BORROWING

 

 

Cash Credit from Banks

(Secured against hypothecation of stocks, book debts and mortgage on factory land and building at Nashik and personally guaranteed of directors of the company)

4.361

3.194

 

 

 

Total

9.012

9.669

 

 

Auditors :

 

Name :

P. R. Maheshwari and Associates 

Chartered Accountants

Address :

A/8, Capital Commercial Centre, Ashram Road, Ahmedabad – 380 009, Gujarat, India  

Tel. No.:

91-79-26576803

PAN No.:

ABFPM0260L

 

 

Memberships :

Not Available

 

 

Collaborators :

Not Available

 

 

Associates/Subsidiaries :

Not Available

 

 

CAPITAL STRUCTURE

 

AS ON: 30.09.2014

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

50000

Equity Shares

Rs.10/- each

Rs. 0.500 Million

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

49000

Equity Shares

Rs.10/- each

Rs. 0.490 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

0.490

0.490

0.490

(b) Reserves & Surplus

5.444

4.538

4.142

(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)

5.934

5.028

4.632

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

14.340

12.934

7.918

(b) Deferred tax liabilities (Net)

0.047

0.006

0.105

(c) Other long term liabilities

3.198

1.980

1.403

(d) long-term provisions

0.000

0.000

0.000

Total Non-current Liabilities (3)

17.585

14.920

9.426

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

4.361

3.194

3.609

(b) Trade payables

8.101

9.675

7.960

(c) Other current liabilities

9.320

2.916

1.525

(d) Short-term provisions

0.594

0.575

0.421

Total Current Liabilities (4)

22.376

16.360

13.515

 

 

 

 

TOTAL

45.895

36.308

27.573

 

 

 

 

II.          ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

17.604

10.645

8.667

(ii) Intangible Assets

0.099

0.130

0.171

(iii) Capital work-in-progress

0.000

7.698

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)

0.000

0.000

0.000

(d)  Long-term Loan and Advances

1.063

1.980

2.177

(e) Other Non-current assets

1.653

2.511

2.882

Total Non-Current Assets

20.419

22.964

13.897

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

12.241

2.625

1.956

(c) Trade receivables

7.608

5.928

5.785

(d) Cash and cash equivalents

5.311

4.211

5.542

(e) Short-term loans and advances

0.316

0.580

0.393

(f) Other current assets

0.000

0.000

0.000

Total Current Assets

25.476

13.344

13.676

 

 

 

 

TOTAL

45.895

36.308

27.573

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

31.03.2014

31.03.2013

31.03.2012

 

SALES

 

 

 

 

Income

22.003

26.432

33.863

 

Other Income

 NA

0.330

0.249

 

TOTAL

NA

26.762

34.112

 

 

 

 

 

Less:

EXPENSES

 

 

 

 

Cost of Materials Consumed

 

11.615

17.616

 

Purchases of Stock-in-Trade

 

1.919

2.532

 

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

 

(0.682)

0.371

 

Employees benefits expense

 

7.881

7.135

 

Other expenses

 

2.885

3.102

 

TOTAL

23.618

30.756

 

 

 

 

 

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

NA

3.144

3.356

 

 

 

 

 

Less:

FINANCIAL EXPENSES

 

1.737

1.744

 

 

 

 

 

 

PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION

 

1.407

1.612

 

 

 

 

 

Less:

DEPRECIATION/ AMORTISATION

 

1.345

1.022

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE TAX

0.096

0.062

0.590

 

 

 

 

 

Less:

TAX

0.041

0.058

0.168

 

 

 

 

 

 

PROFIT/ (LOSS)  AFTER TAX

0.055

0.004

0.422

 

 

 

 

 

 

Earnings / (Loss) Per Share (Rs.)

1.12

0.08

8.61

 

Particulars

 

 

 

31.03.2015

Sales Turnover Approximately

 

 

40.000

 

 

The above information has been parted by Mr. Akshay (Accounts Head)

 

 

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

 

Particulars

 

31.03.2014

31.03.2013

31.03.2012

Current Maturities of Long term debt

1.692

1.708

0.426

Cash generated from operations

NA

NA

NA

Net cash flow from operating activity

NA

NA

NA

 

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2014

31.03.2013

31.03.2012

Net Profit Margin

(PAT / Sales)

(%)

0.25

0.02

1.25

 

 

 

 

 

Operating Profit Margin

(PBIDT/Sales)

(%)

NA

11.89

9.91

 

 

 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)

0.21

0.22

2.14

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

0.02

0.01

0.13

 

 

 

 

 

Debt Equity Ratio

(Total Debt /Networth)

 

3.44

3.55

2.58

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

1.14

0.82

1.01

 

 

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

0.490

0.490

0.490

Reserves & Surplus

4.142

4.538

5.444

Net worth

4.632

5.028

5.934

 

 

 

 

long-term borrowings

7.918

12.934

14.340

Short term borrowings

3.609

3.194

4.361

Current maturities of long-term debts

0.426

1.708

1.692

Total borrowings

11.953

17.836

20.393

Debt/Equity ratio

2.581

3.547

3.437

 

 

 

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)

Sales

33.863

26.432

22.003

 

 

(21.944)

(16.756)

 

 

 

NET PROFIT MARGIN

 

Net Profit Margin

31.03.2012

31.03.2013

31.03.2014

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Sales

33.863

26.432

22.003

Profit

0.422

0.004

0.055

 

1.25%

0.02%

0.25%

 

 

 

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)

No

16

No. of employees

Yes

17

Details of sister concerns

No

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 four 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

 

 

OPERATING RESULTS:

 

The income of the company for the current year is Rs. 22.003 Million as compared to income of Rs. 26.431 Million for the previous year. The profit before tax however is Rs. 0.096 Million for the current year as compared to profit before tax Rs. 0.061 Million for the previous year.

 

 

UNSECURED LOAN:

 

PARTICULARS

31.03.2014

(Rs. in Million)

31.03.2013

(Rs. in Million)

LONG TERM BORROWINGS

 

 

Loans and Advances from Related Parties

 

 

From Directors

3.788

1.116

From Relatives

2.484

2.187

From Shareholders

3.417

3.156

Total

9.689

6.459

 

 

INDEX OF CHARGES:

 

S. No.

Charge ID

Date of Charge Creation/Modification

Charge amount secured

Charge Holder

Address

Service Request Number (SRN)

1

80000948

26/12/2013 *

24,600,000.00

PUNJAB NATIONAL BANK

KHODADAD CIRCLE, DADAR(EAST), MUMBAI, MAHARASHTRA - 
400014, INDIA

B93286573

2

90110570

28/05/2003 *

5,000,000.00

PUNJAB NATIONAL BANK

KHODADAD CIRCLE, DADER EAST, MUMBAI, MAHARASHTRA, 
INDIA

-

3

90109646

29/07/1997 *

4,950,000.00

PUNJAB NATIONAL BANK

KHODADAD CIRCLE, DADER EAST, MUMBAI, MAHARASHTRA 
- 400014, INDIA

-

4

90108920

06/10/1992

300,000.00

PUNJAB NATIONAL BANK

KHODADAD CIRCLE, DADER EAST, MUMBAI, MAHARASHTRA, 
INDIA

-

5

90108526

03/01/1989

200,000.00

PUNJAB NATIONAL BANK

KHODADAD CIRCLE, DADER EAST, MUMBAI, MAHARASHTRA, 
INDIA

-

 

 

FIXED ASSETS:

 

·         Leasehold Land

·         Factory Shed Building

·         Plant and Machinery

·         Testing Equipment

·         Furniture and Fixture

·         Motor Car

·         Motor Cycle

·         Office Equipment

·         Air Conditioner

·         Electrification

·         Type Writers

·         Tools and Tackles

·         Moulds and Dies

·         Computer and 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 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.65.79

UK Pound

1

Rs.99.94

Euro

1

Rs.71.54

 

 

INFORMATION DETAILS

 

Information Gathered by :

PPT

 

 

Analysis Done by :

KIN

 

 

Report Prepared by :

SUD

 

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

4

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

2

--RESERVES

1~10

3

--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

NO

--LISTED

YES/NO

NO

--OTHER MERIT FACTORS

YES/NO

YES

DEFAULTER

 

 

--RBI

YES/NO

NO

--EPF

YES/NO

NO

TOTAL

 

27

 

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.