M0IRA INFORM REPORT
|
Report No. : |
352578 |
|
Report Date : |
30.11.2019 |
IDENTIFICATION DETAILS
|
Name : |
RANDACK
FASTENERS INDIA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Gate No. 1197, Near Ghotawade Phata, Pirangut, Taluka Mulshi, Pune –
412108, |
|
Tel. No.: |
91-20-67909000 / 22929397 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
02.05.2008 |
|
|
|
|
Com. Reg. No.: |
11-131920 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.33.500 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U28991PN2008PTC131920 |
|
|
|
|
IEC No.: |
3108004701 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
PNER09996A/PNER09974G |
|
|
|
|
PAN No.: [Permanent Account No.] |
AADCR9782L |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Fasteners, Bolts, Screws, Nuts, Hexagon Head Bolts |
|
|
|
|
No. of Employees
: |
Information declined by the management
|
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (52) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
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|
|
|
Litigation : |
Clear |
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|
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Comments : |
Subject was established in the year 2008 and it is engaged in the manufacturing of fasteners, bolts, screws, nuts and hexagon head bolts. For the financial year ended 2014, company possesses healthy operational performance and it has maintained decent profit margins during the year under a review. Rating takes into consideration company's satisfactory financial profile supported by its comfortable liquidity position along with sound net worth base and fair debt protection indicates. Trade relations are reported as fair. Payment terms are reported to be usually correct. The company can be considered for business dealings at usual trade terms and condition. |
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
|
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 DENIED BY
|
Name : |
Mr. D. Ghorpade |
|
Designation : |
Deputy Manager – Export and Import |
|
Contact No.: |
91-20-67909043 |
|
Date : |
28.11.2015 |
LOCATIONS
|
Registered Office/ factory : |
Gate No. 1197, Near Ghotawade Phata, Pirangut, Taluka Mulshi, Pune –
412108, |
|
Tel. No.: |
91-20-67909000 / 22929397/67909043 |
|
Fax No.: |
91-20-66549344 / 45 / 22929377 |
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E-Mail : |
|
|
Website : |
|
|
|
|
|
Overseas : |
Locate At
|
DIRECTORS
As on 30.09.2014
|
Name : |
Mr. Jens Otto Randack |
|
Designation : |
Director |
|
Address : |
Voormann Strssei, |
|
Date of Birth/Age : |
29.09.1960 |
|
Date of Appointment : |
02.05.2008 |
|
DIN No. : |
02039259 |
|
|
|
|
Name : |
Mr. Sateesh Gopinath Bhide |
|
Designation : |
Alternate Director |
|
Address : |
10, Savari HSG Society, Lane No. 2, Happy Colony, Kothrud, Pune –
411038, |
|
Date of Birth/Age : |
07.09.1963 |
|
Date of Appointment : |
27.09.2012 |
|
DIN No. : |
01638940 |
|
|
|
|
Name : |
Mr. Thomas Klaus Eschner |
|
Designation : |
Director |
|
Address : |
Obernbaakstr, 106, Bochum, NA, Germany – 44797 |
|
Date of Birth/Age : |
19.06.1968 |
|
Date of Appointment : |
02.05.2008 |
|
DIN No. : |
01098965 |
KEY EXECUTIVES
|
Name : |
Mr. D. Ghorpade |
|
Designation : |
Deputy Manager |
MAJOR SHAREHOLDERS
As on 30.09.2014
|
Names of Shareholders |
|
No. of Shares |
|
Klaus union Engineering Private Limited (India) |
|
1675000 |
|
RS Randack Spezialschrauben GmbH (Germany) |
|
175000 |
|
Randack Automotive GmbH ( |
|
1500000 |
|
|
|
|
|
Total |
|
3350000 |
As on 30.09.2014
Equity Share Break up (Percentage of Total Equity)
|
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 |
50.00 |
|
Bodies corporate |
50.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Fasteners, Bolts, Screws, Nuts, Hexagon Head Bolts |
|
|
|
|
Products : |
|
|
|
|
|
Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
Not Divulged |
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|
|
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Imports : |
Not Divulged |
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Terms : |
Not Divulged |
PRODUCTION STATUS = NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
Information declined by the management
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Bankers : |
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Facilities : |
(Rs.
In Million)
|
|
Auditors : |
|
|
Name : |
U.V. Bodas and Company Chartered Accountants |
|
Address : |
Flat No. 2, Yashodhan Complex, 1561, Sadashiv Peth, Pune – 411030, |
|
Tel. No.: |
91-20-24333628 |
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Fax No.: |
91-9823008217 |
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E-Mail : |
|
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PAN No.: |
ABGPB7149E |
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|
|
|
Memberships : |
Not Available |
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|
|
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Collaborators : |
Not Available |
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|
|
|
Associates/Subsidiaries : |
-- |
CAPITAL STRUCTURE
As on 30.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4000000 |
Equity Shares |
Rs.10/- each |
Rs.40.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3350000 |
Equity Shares |
Rs.10/- each |
Rs.33.500 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 |
33.500 |
33.500 |
33.500 |
|
(b) Reserves & Surplus |
60.956 |
21.924 |
20.766 |
|
(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) |
94.456 |
55.424 |
54.266 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
21.736 |
20.910 |
22.831 |
|
(b) Deferred tax liabilities
(Net) |
1.093 |
1.086 |
1.446 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
0.235 |
0.097 |
0.085 |
|
Total
Non-current Liabilities (3) |
23.064 |
22.093 |
24.362 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
29.933 |
33.891 |
42.659 |
|
(b) Trade payables |
67.894 |
37.206 |
18.796 |
|
(c) Other current liabilities |
27.271 |
11.941 |
13.647 |
|
(d) Short-term provisions |
0.234 |
0.098 |
0.085 |
|
Total
Current Liabilities (4) |
125.332 |
83.136 |
75.187 |
|
|
|
|
|
|
TOTAL |
242.852 |
160.653 |
153.815 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
42.567 |
38.545 |
44.684 |
|
(ii) Intangible Assets |
1.104 |
1.282 |
1.490 |
|
(iii) Capital work-in-progress |
0.451 |
1.065 |
1.012 |
|
(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 |
0.925 |
0.592 |
0.376 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
45.047 |
41.484 |
47.562 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
52.633 |
38.131 |
34.813 |
|
(c) Trade receivables |
113.469 |
63.062 |
52.910 |
|
(d) Cash and cash equivalents |
5.908 |
0.827 |
0.752 |
|
(e) Short-term loans and
advances |
25.755 |
17.147 |
17.770 |
|
(f) Other current assets |
0.040 |
0.002 |
0.008 |
|
Total
Current Assets |
197.805 |
119.169 |
106.253 |
|
|
|
|
|
|
TOTAL |
242.852 |
160.653 |
153.815 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Income |
|
|
|
|
|
Other Income |
|
|
|
|
|
TOTAL
|
381.955 |
191.100 |
209.083 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
TOTAL |
314.624 |
181.326 |
195.958 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
67.331 |
9.774 |
13.125 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION |
7.501 |
8.074 |
8.134 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
59.830 |
1.700 |
4.991 |
|
|
|
|
|
|
|
Less |
TAX |
20.798 |
0.542 |
1.649 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
39.032 |
1.158 |
3.342 |
|
|
|
|
|
|
|
|
EARNINGS
IN FOREIGN CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
141.372 |
49.449 |
35.391 |
|
|
Freight |
1.206 |
3.132 |
0.632 |
|
|
TOTAL
EARNINGS |
142.578 |
52.581 |
36.023 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
17.532 |
7.343 |
22.706 |
|
|
Components and Stores parts |
0.271 |
0.000 |
4.286 |
|
|
TOTAL
IMPORTS |
17.803 |
7.343 |
26.992 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
11.65 |
0.35 |
0.99 |
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current Maturities of Long term debt |
8.381 |
8.954 |
11.949 |
|
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 |
|
Return on Total Assets (PBT/Total Assets} |
(%) |
24.68 |
1.07 |
3.27 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.63 |
0.03 |
0.09 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.55 |
0.99 |
1.21 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.58 |
1.43 |
1.41 |
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 |
33.500 |
33.500 |
33.500 |
|
Reserves & Surplus |
20.766 |
21.924 |
60.956 |
|
Net
worth |
54.266 |
55.424 |
94.456 |
|
|
|
|
|
|
long-term borrowings |
22.831 |
20.910 |
21.736 |
|
Short term borrowings |
42.659 |
33.891 |
29.933 |
|
Current maturities of
long-term debts |
11.949 |
8.954 |
8.381 |
|
Total
borrowings |
77.439 |
63.755 |
60.050 |
|
Debt/Equity
ratio |
1.427 |
1.150 |
0.636 |
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 |
209.083 |
191.100 |
381.955 |
|
|
|
(8.601) |
99.872 |
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 |
209.083 |
191.100 |
381.955 |
|
Profit |
3.342 |
1.158 |
39.032 |
|
|
1.60% |
0.61% |
10.22% |
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 |
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 |
No |
|
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 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 |
FUTURE PROSPECTS:
The performance of the current year is expected to be better compared to the previous year and the Directors are confident of achieving the desired projections for the current year. Further the margins are expected to be better compared to the previous year.
UNSECURED LOAN
(Rs.
In Million)
|
Particulars |
As
on 31.03.2014 |
As
on 31.03.2013 |
|
LONG TERM
BORROWING |
|
|
|
External Commercial Borrowings from Klaus union Gmbh and Company KG,
Germany. |
|
|
|
Principal |
13.317 |
12.843 |
|
Loss due to Foreign Currency Exchange Fluctuation |
2.517 |
0.473 |
|
Less : Repayment During the Year |
(2.022) |
0.000 |
|
Less : current Maturities disclosed under the head ‘Other Current
Liabilities’ |
(3.994) |
(3.364) |
|
|
9.818 |
9.952 |
|
|
|
|
|
Overdue Interest Accrued and Due |
0.614 |
0.490 |
|
Loss due to foreign currency Exchange Fluctuation |
0.007 |
0.016 |
|
Less : Repayment during the year |
(0.514) |
0.000 |
|
|
0.107 |
0.506 |
|
|
|
|
|
External Commercial Borrowings from Rs Randack Spezialschrauben Gmbh,
Germany |
|
|
|
Principal |
13.317 |
12.844 |
|
Loss due to Foreign Currency Exchange Fluctuation |
2.516 |
0.473 |
|
Less : Repayment During the Year |
(2.022) |
0.000 |
|
Less : current Maturities disclosed under the head ‘Other Current
Liabilities’ |
(3.994) |
(3.364) |
|
|
9.817 |
9.953 |
|
|
|
|
|
Interest Accrued and Due |
0.607 |
0.483 |
|
Loss/(Gain) due to Foreign Currency Exchange Fluctuation |
0.007 |
0.016 |
|
Less : Repayment During the Year |
(0.507) |
0.000 |
|
|
0.107 |
0.499 |
|
|
|
|
|
Total |
19.849 |
20.910 |
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10479653 |
30/12/2013 |
2,394,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W , MUMBAI, Maharashtra - 400013, INDIA |
B97208342 |
|
2 |
10430656 |
02/09/2014 * |
75,000,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W , MUMBAI, Maharashtra - 400013, INDIA |
C34422303 |
* Date of charge modification
FIXED ASSETS
- Plant and Machinery
- Electrical Installation
- Factory Equipments
- Office Equipments
- Computers
- Furniture and Fixtures
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 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.66.75 |
|
|
1 |
Rs.100.68 |
|
Euro |
1 |
Rs.70.88 |
INFORMATION DETAILS
|
Information
Gathered by : |
KAM |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
KVT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILITY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--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 |
|
52 |
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.