MIRA INFORM REPORT
|
Report No. : |
350831 |
|
Report Date : |
23.11.2015 |
IDENTIFICATION DETAILS
|
Name : |
TASAA SOFTWARE
SERVICES PRIVATE LIMITED (w.e.f. 06.09.2011) |
|
|
|
|
Formerly Known
As : |
AURA COMMUNICATION PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
301, Krishna Kunj, V. L. Mehta Road, JVPD Scheme, Vile Parle (West),
Mumbai – 400056, Maharashtra |
|
Tel. No.: |
91-22-66701717 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
05.12.1997 |
|
|
|
|
Com. Reg. No.: |
11-112277 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.5.100 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U80302MH1997PTC112277 |
|
|
|
|
IEC No.: |
Not Divulged |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMA21312E |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACA9896K |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject is engaged in web designing, web hosting, designing services
and software development and customization. |
|
|
|
|
No. of Employees
: |
Information declined by the management. |
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 |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject was established in the year 1997 and it is engaged in
providing gaming application. The company’s services include product
development, customized development and package implementation. For the financial year ended 2014, company possesses average
operational performance and reported moderate growth in its revenue profile
along but net profile has been declined by 67.39% during the year under a
review. Rating remain constrained on account of company’s moderate financial
profile marked by its low operating efficiencies along with moderate networth
and weak debt coverage indicators. Rating weakness is partially offset by extensive industry experience
of promoters in application development business and established track record
of company’s operations. Trade relations are reported as fair. Payments are reported to be slow
but correct. In view of aforesaid, the company can be considered for business
dealing 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 DENIED BY
|
Name : |
Ms. Shakuntala |
|
Designation : |
Senior Accountant |
|
Contact No.: |
91-22-66701717 |
|
Date : |
20.11.2015 |
LOCATIONS
|
Registered / Corporate Office : |
301, Krishna Kunj, V. L. Mehta Road, JVPD Scheme, Vile Parle (West),
Mumbai – 400056, Maharashtra, India |
|
Tel. No.: |
91-22-66701717 |
|
Fax No.: |
91-22-66701718 |
|
E-Mail : |
|
|
Website : |
DIRECTORS
As on 30.09.2014
|
Name : |
Mr. Ameet Babubhai Shah |
|
Designation : |
Managing Director |
|
Address : |
502, 5th Floor, Shraddhasuman, 37-B, JVPD Scheme, N.S. Road No.6, Vile Parle (West), Mumbai - 400056, Maharashtra, India |
|
Date of Birth/Age : |
15.02.1958 |
|
Date of Appointment : |
05.07.1997 |
|
DIN No.: |
01386496 |
|
|
|
|
Name : |
Mr. Rushabh Ameet Shah |
|
Designation : |
Director |
|
Address : |
401, Aum Jaydeep Heights, N.S. Road No.1, JVPD Scheme, Vile Parle (West), Mumbai - 400056, Maharashtra, India |
|
Date of Birth/Age : |
09.12.1985 |
|
Date of Appointment : |
06.02.2007 |
|
PAN No.: |
AWXPS5662B |
|
DIN No.: |
01280036 |
|
|
|
|
Name : |
Mr. Vipul Harshavadan Choksi |
|
Designation : |
Additional Director |
|
Address : |
A -1, Kum Kum Apartment, 161 S. V. Road, Near Nanavati Hospital, Vile Parle (West), Mumbai, 400056, Maharashtra, India |
|
Date of Appointment : |
10.10.2015 |
|
DIN No.: |
07309527 |
KEY EXECUTIVES
|
Name : |
Ms. Shakuntala |
|
Designation : |
Senior Accountant |
MAJOR SHAREHOLDERS
As on 30.09.2014
|
Names of Shareholders (Equity Shares) |
|
No. of Shares |
|
Ameet B. Shah |
|
689 |
|
Forum A. Shah |
|
10 |
|
Priya B. Shah |
|
1 |
|
Rushabh A. Shah |
|
300 |
|
Total |
|
1000 |
|
Names of Shareholders (Preference Shares) |
|
No. of Shares |
|
Tasaa Infosolutions Private Limited |
|
1000000 |
|
Total |
|
1000000 |
As on 30.09.2014
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Directors or relatives of Directors |
99.90 |
|
Other top fifty shareholders |
0.10 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in web designing, web hosting, designing services
and software development and customization. |
|
|
|
|
Products / Services : |
|
|
|
|
|
Brand Names : |
Not Available |
|
|
|
|
Agencies Held : |
Not Available |
|
|
|
|
Exports : |
Not Divulged |
|
|
|
|
Imports : |
Not Divulged |
|
|
|
|
Terms : |
|
|
Selling : |
Not Divulged |
|
|
|
|
Purchasing : |
Not Divulged |
PRODUCTION STATUS = NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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No. of Employees : |
Information declined by the management. |
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||||||||||||||||||||||
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Bankers : |
|
|
Auditors : |
|
|
Name : |
Rohit Desai and Company Chartered Accountants |
|
Address : |
703, Tulsi Villa, 'C' Wing, Bajaj Road, Vile Parle (West), Mumbai –
400056, Maharashtra, India |
|
Tel. No.: |
91-22-26280006 |
|
Mobile No.: |
91-9821031836 |
|
E-Mail : |
|
|
PAN No.: |
ABDPD8374N |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Enterprise under common control of the directors : |
Tasaa Infosolutions Private Limited |
CAPITAL STRUCTURE
As on 30.09.2015
Authorised Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5000 |
Equity Shares |
Rs.100/- each |
Rs.0.500 Million |
|
1000000 |
Preference Shares |
Rs.10/- each |
Rs.10.000 Million |
|
|
Total |
|
Rs.10.500
Million |
Issued & Subscribed Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1000 |
Equity Shares |
Rs.100/-
each |
Rs.0.100
Million |
|
1000000 |
Preference Shares |
Rs.10/- each |
Rs.10.000 Million |
|
|
Total |
|
Rs.10.100 Million |
Paid-up Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1000 |
Equity Shares |
Rs.100/-
each |
Rs.0.100
Million |
|
1000000 |
Preference Shares |
Rs.10/- each |
Rs.10.000
Million |
|
|
Less : Calls in Arrears |
|
Rs.5.000
Million |
|
|
Total |
|
Rs.5.100 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 |
5.100 |
0.100 |
0.100 |
|
(b) Reserves &
Surplus |
(0.530) |
(0.560) |
(0.653) |
|
(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) |
4.570 |
(0.460) |
(0.553) |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
3.473 |
1.615 |
1.499 |
|
(b) Deferred tax
liabilities (Net) |
0.320 |
0.054 |
0.040 |
|
(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) |
3.793 |
1.669 |
1.539 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
8.070 |
0.000 |
0.000 |
|
(b) Trade payables |
5.301 |
0.074 |
0.000 |
|
(c) Other current
liabilities |
1.685 |
0.296 |
0.070 |
|
(d) Short-term provisions |
1.614 |
0.191 |
0.255 |
|
Total Current Liabilities
(4) |
16.670 |
0.561 |
0.325 |
|
|
|
|
|
|
TOTAL |
25.033 |
1.770 |
1.311 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
3.546 |
0.784 |
0.777 |
|
(ii) Intangible Assets |
11.860 |
0.057 |
0.048 |
|
(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) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
1.028 |
0.008 |
0.000 |
|
(e) Other Non-current
assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
16.434 |
0.849 |
0.825 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
0.301 |
0.423 |
0.000 |
|
(c) Trade receivables |
5.118 |
0.313 |
0.331 |
|
(d) Cash and cash
equivalents |
0.314 |
0.125 |
0.130 |
|
(e) Short-term loans and
advances |
0.000 |
0.000 |
0.008 |
|
(f) Other current assets |
2.866 |
0.060 |
0.017 |
|
Total Current Assets |
8.599 |
0.921 |
0.486 |
|
|
|
|
|
|
TOTAL |
25.033 |
1.770 |
1.311 |
PROFIT & LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Gross Income |
|
|
|
|
|
Other Income |
|
|
|
|
|
TOTAL |
10.541 |
2.543 |
1.547 |
|
|
|
|
|
|
|
Less |
EXPENSES |
9.113 |
2.313 |
1.222 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION |
1.428 |
0.230 |
0.325 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
1.080 |
0.115 |
0.055 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
0.348 |
0.115 |
0.270 |
|
|
|
|
|
|
|
Less |
TAX |
0.318 |
0.023 |
0.064 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
0.030 |
0.092 |
0.206 |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
2.469 |
1.751 |
0.942 |
|
|
TOTAL EARNINGS |
2.469 |
1.751 |
0.942 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Software (Expenses) |
0.010 |
0.009 |
NA |
|
|
Software (Assets) |
0.000 |
0.021 |
NA |
|
|
TOTAL IMPORTS |
0.010 |
0.030 |
NA |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (Rs.) |
30.00 |
92.00 |
206.00 |
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 |
NA |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net cash flows from operating activities |
NA |
NA |
NA |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT/Total Income) |
(%) |
0.28 |
3.62 |
13.32 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.39 |
6.50 |
20.59 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.08 |
(0.25) |
(0.49) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
2.53 |
(3.51) |
(2.71) |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.52 |
1.64 |
1.50 |
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 |
0.100 |
0.100 |
5.100 |
|
Reserves & Surplus |
(0.653) |
(0.560) |
(0.530) |
|
Net worth |
(0.553) |
(0.460) |
4.570 |
|
|
|
|
|
|
long-term borrowings |
1.499 |
1.615 |
3.473 |
|
Short term borrowings |
0.000 |
0.000 |
8.070 |
|
Total borrowings |
1.499 |
1.615 |
11.543 |
|
Debt/Equity ratio |
(2.711) |
(3.511) |
2.526 |
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 |
1.547 |
2.543 |
10.541 |
|
|
|
64.383 |
314.510 |
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 |
1.547 |
2.543 |
10.541 |
|
Profit |
0.206 |
0.092 |
0.030 |
|
|
13.32% |
3.62% |
0.28% |
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 |
Yes |
|
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 |
No |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
No |
|
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 |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
Note:
The registered address has been shifted from the 5, Jaydeep Building,
N.S. Road. No.1, JVPD Scheme. Vile Parle (West), Mumbai – 400056, Maharashtra,
INDIAs to the present address w.e.f. 12.09.2011.
OPERATIONS
In the current year the export services has shown reasonable growth. The
company has also acquired the software trading business of the associate company
Tasaa Infosolutions Private Limited by a slump sale. This business is expected
to grow substantially over the next few years. Due to the new business
acquisition the profit before tax and depreciation has also increased
substantially. The gaming and apps development division was launched this year.
FUTURE BUSINESS
PLANS
The focus for this year will be to increase the software trading
business which is newly acquired as well source more software development work
for ERP/CRM from overseas market specially North America and Europe. Focus will
also be on Gaming and Apps development business and though the revenue was not
significant, the revenues are expected to improve.
UNSECURED LOAN
(Rs.
In Million)
|
Particulars |
As
on 31.03.2014 |
As
on 31.03.2013 |
|
LONG TERM
BORROWING |
|
|
|
From Director for HDFC Bank Car Loan |
1.078 |
0.000 |
|
From HDFC Bank Business Loan |
0.332 |
0.000 |
|
Loans and advances from Directors |
2.063 |
1.615 |
|
SHORT TERM
BORROWING |
|
|
|
From Director for HDFC Bank Car Loan |
0.254 |
0.000 |
|
From HDFC Bank Business Loan |
0.146 |
0.000 |
|
Loans and advances from corporate bodies |
7.670 |
0.000 |
|
Total |
11.523 |
1.615 |
INDEX OF CHARGES: NO
CHARGES EXIST FOR THE COMPANY
FIXED ASSETS
Tangible Assets
- Computers
- Furniture and Fixtures
- Vehicle
- Office Equipment
Intangible Assets
- Goodwill
- 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.66.09 |
|
|
1 |
Rs.101.03 |
|
Euro |
1 |
Rs.70.85 |
INFORMATION DETAILS
|
Information
Gathered by : |
KMN |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
PNM |
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 |
3 |
|
--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 |
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 |
-- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.