MIRA INFORM REPORT
|
Report No. : |
343666 |
|
Report Date : |
06.10.2015 |
IDENTIFICATION DETAILS
|
Name : |
LIEBHERR CMCTEC INDIA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Gat No.196-199, Village Dhaygudewadi (Boripardhi), Pune Solapur, National
Highway – 9, Taluka Daund, Pune-412203, Maharashtra |
|
Tel. No.: |
91-2117-305300 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
30.06.2014 |
|
|
|
|
Date of
Incorporation : |
07.01.2008 |
|
|
|
|
Com. Reg. No.: |
11-133920 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.2455.616 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74999PN2008FTC133920 |
|
|
|
|
IEC No.: |
0308015444 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCL4052F |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
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|
|
|
Line of Business
: |
Trader of Cranes and Forklifts, Cranes, Dock Levelers, Refrigeration
and Port equipment. |
|
|
|
|
No. of Employees
: |
150 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (30) |
|
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 a subsidiary of 'Liebherr CMCtec Gmbh". It is an established company incorporated in the year 2008 having moderate track. The rating is constrained on account of huge accumulated losses incurred by the company. Further, the rating also takes into consideration unfavorable gap between trade payables and trade receivables. However, this rating weakness is partially offset by strong managerial and financial support received from its holding company. Trade relations are reported as fair. Business is active. Payment terms are reported as slow but correct In view of the aforesaid, 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
|
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. Syeed Bin Yahya |
|
Designation : |
Director |
|
Contact No.: |
91-9766313840 |
|
Date : |
03.10.2015 |
LOCATIONS
|
Registered Office : |
Gat No.196-199, Village Dhaygudewadi (Boripardhi), Pune Solapur,
National Highway – 9, Taluka Daund, Pune-412203, Maharashtra, India |
|
Tel. No.: |
91-2117-305300/249249 |
|
Mobile No. : |
91-9765400822 (Mr. Sahebrao) 91-9766313840 (Mr. Sayed Bin Yahya) |
|
Fax No.: |
91-2117-305301 |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
|
|
|
|
Head Office: |
D-16/3 and 4 , MIDC Ground Floor, TTC Industrial Area, Turbhe, Navi
Mumbai – 400703, Maharashtra, India |
|
Tel. No.: |
91-22-412675-00 |
|
Fax No.: |
91-22-412675-99 |
DIRECTORS
AS ON 29.12.2014
|
Name : |
Mr. Syeed Bin Yahya |
|
Designation : |
Director |
|
Address : |
H. No 16-2-855 To 865, 102 Arman Towers, Akbar Bagh,
Malakpet, Hyderabad - 500036, Telangana, India |
|
Date of Birth/Age : |
03.01.1963 |
|
Date of Appointment : |
01.01.2014 |
|
DIN No.: |
06761765 |
|
|
|
|
Name : |
Mr. Mathias Sebastian Knorr |
|
Designation : |
Director |
|
Address : |
106, Kumar City, Near Royal Orchid Hotel, Kalyani Nagar,
Pune - 411014, Maharashtra, India |
|
Date of Birth/Age : |
23.07.1977 |
|
Date of Appointment : |
12.06.2014 |
|
DIN No.: |
06885290 |
KEY EXECUTIVES
|
Name : |
Mr. Ketan Shrikant Ranade |
|
Designation : |
Secretary |
|
Address : |
Orchid, Row House No.9, Near Kailas Jivan Factory, Dhayri,
Sinhgad Road, Pune - 411041, Maharashtra, INDIA |
|
Date of Appointment : |
07.07.2014 |
|
PAN No: |
ARHPR6789D |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 29.12.2014
|
Names of Shareholders |
|
No. of Shares |
|
Liebherr CMCtec GmbH, Germany |
|
245561560 |
|
Liebherr – Mischtechnik GmbH, Germany |
|
1 |
|
Total |
|
245561561 |
Equity Share Break up (Percentage of Total Equity)
AS ON 29.12.2014
|
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 |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Trader of Cranes and Forklifts, Cranes, Dock Levelers, Refrigeration
and Port equipment. |
|
|
|
|
Products : |
|
|
|
|
|
Brand Names : |
Not Available |
|
|
|
|
Agencies Held : |
Not Available |
|
|
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Exports : |
|
|
Products : |
Construction Equipment’s |
|
Countries : |
Australia Saudi Arabia |
|
|
|
|
Imports : |
|
|
Products : |
Equipment’s |
|
Countries : |
|
|
|
|
|
Terms : |
|
|
Selling : |
L/C, Cash and Credit (30,60,90 Days) |
|
|
|
|
Purchasing : |
L/C, Cash and Credit (30,60,90 Days) |
PRODUCTION STATUS: NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
End users and OEMS
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No. of Employees : |
150 (Approximately) |
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Bankers : |
|
|
Auditors : |
|
|
Name : |
Sastakar Vaidya and Company Chartered Accountants |
|
Address : |
307, Lunkad Sky Vista Vimannagar |
|
PAN N Income-tax PAN of auditor or auditor's firm : |
ABEFS0740Q |
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|
|
|
Memberships : |
Not Available |
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|
|
|
Collaborators : |
Not Available |
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|
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Holding company: |
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|
|
|
|
Associate: |
|
CAPITAL STRUCTURE
AFTER 29.12.2014
Authorised Capital : Rs. 2470.000 Million
Issued, Subscribed & Paid-up Capital : Rs. 2459.514
Million
AS ON 30.06.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
247000000 |
Equity Shares |
Rs.10/- each |
Rs. 2470.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
245561561 |
Equity Shares |
Rs.10/- each |
Rs. 2455.616
Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are in
Rupees Million]
ABRIDGED
BALANCE SHEET
|
SOURCES
OF FUNDS |
30.06.2014 (15
Months) |
31.03.2013 (12
Months) |
31.03.2012 (12
Months) |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
2455.616 |
1255.616 |
1255.616 |
|
(b) Reserves & Surplus |
(2095.583) |
(1034.162) |
(562.350) |
|
(c) Money received against
share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money
pending allotment |
3.899 |
3.899 |
3.899 |
|
Total
Shareholders’ Funds (1) + (2) |
363.932 |
225.353 |
697.165 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
837.200 |
395.216 |
551.534 |
|
(b) Deferred tax liabilities
(Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
2.014 |
1.889 |
0.000 |
|
Total
Non-current Liabilities (3) |
839.214 |
397.105 |
551.534 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
345.179 |
740.238 |
184.379 |
|
(b) Trade payables |
531.088 |
419.670 |
413.156 |
|
(c) Other current liabilities |
148.602 |
439.005 |
135.567 |
|
(d) Short-term provisions |
0.015 |
0.063 |
3.661 |
|
Total
Current Liabilities (4) |
1024.884 |
1598.976 |
736.763 |
|
|
|
|
|
|
TOTAL |
2228.030 |
2221.434 |
1985.462 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
1477.721 |
1493.506 |
582.434 |
|
(ii) Intangible Assets |
3.421 |
6.280 |
10.604 |
|
(iii) Capital work-in-progress |
12.096 |
20.019 |
915.124 |
|
(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 |
0.000 |
0.000 |
10.752 |
|
(e) Other Non-current assets |
19.730 |
17.294 |
0.000 |
|
Total
Non-Current Assets |
1512.968 |
1537.099 |
1518.914 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
549.275 |
585.016 |
320.007 |
|
(c) Trade receivables |
26.273 |
20.870 |
26.120 |
|
(d) Cash and cash equivalents |
2.933 |
0.368 |
7.330 |
|
(e) Short-term loans and
advances |
133.789 |
74.772 |
112.129 |
|
(f) Other current assets |
2.792 |
3.309 |
0.962 |
|
Total
Current Assets |
715.062 |
684.335 |
466.548 |
|
|
|
|
|
|
TOTAL |
2228.030 |
2221.434 |
1985.462 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
30.06.2014 (15
Months) |
31.03.2013 (12
Months) |
31.03.2012 (12
Months) |
|
|
SALES |
|
|
|
|
|
Income |
282.481 |
238.371 |
246.398 |
|
|
Other Income |
35.769 |
1.865 |
0.113 |
|
|
TOTAL |
318.250 |
240.236 |
246.511 |
|
|
|
|
|
|
|
|
EXPENSES |
1056.317 |
714.278 |
480.634 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
(846.526) |
(530.098) |
(234.123 |
|
|
|
|
|
|
|
|
DEPRECIATION/
AMORTISATION |
94.577 |
58.286 |
22.069 |
|
|
|
|
|
|
|
|
EXTRA
ORDINARY ITEM |
0.002 |
0.000 |
(45.529) |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
(751.949) |
(471.812) |
(210.663) |
|
|
|
|
|
|
|
|
TAX |
309.472 |
0.000 |
0.057 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
(1061.421) |
(471.812) |
(210.720 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
(8.31) |
(3.76) |
(1.70) |
|
Particulars |
|
|
31.03.2015 |
|
Sales Turnover (Approximately) |
|
|
400.000 |
The above information has been parted by Mr. Syeed Bin Yahya
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
30.06.2014 (15
Months) |
31.03.2013 (12
Months) |
31.03.2012 (12
Months) |
|
Current Maturities of Long term debt |
83.720 |
386.334 |
124.782 |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net cash flows from (used in) operations |
NA |
NA |
NA |
KEY
RATIOS
|
PARTICULARS |
|
30.06.2014 (15
Months) |
31.03.2013 (12
Months) |
31.03.2012 (12
Months) |
|
Net Profit Margin (PAT / Sales) |
(%) |
(375.75) |
(197.93) |
(85.52) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(33.93) |
(21.43) |
(19.68) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(2.07) |
(2.09) |
(0.30) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
3.48 |
6.75 |
1.23 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.70 |
0.43 |
0.63 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
30.06.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Share Capital |
1255.616 |
1255.616 |
2455.616 |
|
Reserves & Surplus |
(562.350) |
(1034.162) |
(2095.583) |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money pending allotment |
3.899 |
3.899 |
3.899 |
|
Net
worth |
697.165 |
225.353 |
363.932 |
|
|
|
|
|
|
long-term borrowings |
551.534 |
395.216 |
837.200 |
|
Short term borrowings |
184.379 |
740.238 |
345.179 |
|
Current Maturities of
long-term debts |
124.782 |
386.334 |
83.720 |
|
Total
borrowings |
860.695 |
1521.788 |
1266.099 |
|
Debt/Equity
ratio |
1.235 |
6.753 |
3.479 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2012 |
31.03.2013 |
30.06.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Sales |
246.398 |
238.371 |
282.481 |
|
|
|
(3.258) |
18.505 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2012 |
31.03.2013 |
30.06.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Sales |
246.398 |
238.371 |
282.481 |
|
Profit |
(210.720) |
(471.812) |
(1061.421) |
|
|
(85.52%) |
(197.93%) |
(375.75%) |
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 |
Yes |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
Yes |
|
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 four 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 |
Yes |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
INDEX
OF CHARGES: NO CHARGES EXIST FOR COMPANY
OPERATIONS AND
PERFORMANCE
The Company generated total revenue from operations of approx. INR 441.700 Million in the current year ended on 30th June 2014 as against approx. INR 240.200 Million in the previous year ended on 31st March 2013. The net loss for the period from continuing operations stood at approx. INR 750.000 Million and the net loss for the period from discontinuing operations stood at approx. INR 309.400 Million as compared to net loss of INR 470.000 Million during the previous year from the continuing operations. The operational performance of the Company has been very resilient in the year due to increase in operational efficiency, growth in exports and improvement in sentiments of the market.
UNSECURED LOAN
|
PARTICULARS |
30.06.2014 (15
Months) (Rs.
in Million) |
31.03.2013 (12
Months) (Rs.
in Million) |
|
LONG-TERM
BORROWINGS |
|
|
|
Other external commercial borrowings |
837.200 |
395.216 |
|
SHORT-TERM
BORROWINGS |
|
|
|
Loans repayable on demand |
345.179 |
740.238 |
|
Total |
1182.379 |
1135.454 |
CONTINGENT
LIABILITIES:
(Rs. in million)
|
PARTICULARS |
30.06.2014 (15
Months) (Rs.
in Million) |
31.03.2013 (12
Months) (Rs.
in Million) |
|
|
|
|
|
Bank Guarantees outstanding |
2.100 |
1.149 |
|
Bond to Special Valuation Branch ( S.V.B) to Commissioner of Customs JNPT, Mumbai ,and to Special Valuation Branch (SVB) Air Cargo Complies Mumbai. |
0.000 |
50.000 |
FIXED ASSETS
Tangible assets
- Land
- Buildings
- Plant and equipment
- Furniture and fixtures
- Vehicles
- Office equipment
- Computer equipments
- Other equipments
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 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.65.29 |
|
UK Pound |
1 |
Rs.99.31 |
|
Euro |
1 |
Rs.73.39 |
INFORMATION DETAILS
|
Information
Gathered by : |
PPT |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
KVT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILITY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
2 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
30 |
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.