MIRA INFORM REPORT
|
Report No. : |
346621 |
|
Report Date : |
26.10.2015 |
IDENTIFICATION DETAILS
|
Name : |
IACHARYA SILICON LIMITED |
|
|
|
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Registered
Office : |
Old No 332/2, New No 120b Chitra Towers, Arcot Road, Kodambakkam,
Chennai – 600024, Tamilnadu |
|
Tel. No.: |
91-44-43565238 |
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Country : |
India |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
24.09.2008 |
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Com. Reg. No.: |
18-069388 |
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Capital
Investment / Paid-up Capital : |
Rs. 5.270 Million |
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CIN No.: [Company Identification
No.] |
U24231TN2008PLC069388 |
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IEC No.: |
Not Available |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
Not Available |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Manufacturer, Trader and Installers of Solar Products also engaged into
conducting training and consulting regarding solar installation plant. |
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No. of Employees
: |
30 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (44) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 120000 |
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|
Status : |
Satisfactory |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
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Comments : |
Subject is established company and it is having a satisfactory track
record. The rating on company reflects healthy year on year operational
growth, with decent profitability margin backed by its zero debt balance
sheet of the company. The rating further take into account comfortable capital infusion in
the year 2014 by its promoters along with healthy order book of the company
backed by the established track record and experience of its promoters. Trade relations are fair. Business is active. Payment terms are
reported to be usually correct. In view of sound operational and financial base, the company can be
considered for business dealings at usual trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
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 |
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Restricted |
C2 |
|
Off-credit |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
“SP 3C” |
|
Rating Explanation |
Moderate performance capability and moderate financial strength |
|
Date |
February 2015 |
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. Rangrajan |
|
Designation : |
Finance Executive |
|
Contact No.: |
91-44-43565238 |
LOCATIONS
|
Registered Office : |
Old No. 332/2, New No 120b Chitra Towers, Arcot Road, Kodambakkam,
Chennai – 600024, Tamilnadu, India |
|
Tel. No.: |
91-44-2473113/43565238 |
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Fax No.: |
91-44-2152715 |
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E-Mail : |
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Website : |
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Factory : |
SIDCO Industrial Estate, Maraimalai Nagar, Chennai – 603209,
Tamilnadu, India |
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Assembling Office : |
Thirumudivakkam, Pallavaram, Chennai – 600044, Tamilnadu, India |
DIRECTORS
As on 30.09.2014
|
Name : |
Mr. Ramkrishnan Karthik |
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Designation : |
Director |
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Address : |
41,V Cross Street, Trustpuram, Chennai – 600024, Tamilnadu, India |
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Date of Birth/Age : |
25.02.1972 |
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Date of Appointment : |
24.09.2008 |
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DIN No.: |
01634022 |
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Other
Directorship:
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Name : |
Mrs. Uma Ramakrishnan |
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Designation : |
Director |
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Address : |
No. 49, N.No. 41, 5th Cross Street, Trustpram, Kodambakkam,
Chennai – 600024, Tamilnadu, India |
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Date of Birth/Age : |
05.03.1947 |
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Date of Appointment : |
24.09.2008 |
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DIN No.: |
01676526 |
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Other
Directorship:
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KEY EXECUTIVES
|
Name : |
Mr. Rangrajan |
|
Designation : |
Finance Executive |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2014
|
Equity Shareholders |
|
No. of Shares |
|
R. KArthik |
|
24975 |
|
Uma Ramakrishnan |
|
24975 |
|
R Balasubramanian |
|
10 |
|
A Ramkrishnan |
|
10 |
|
A Raguraman |
|
10 |
|
R Parvathy |
|
10 |
|
K Anbarasu |
|
10 |
|
Total |
|
50000 |
|
Preference Shareholders |
|
No. of Shares |
|
Summit Crest Holding Private Limited |
|
47700 |
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, Trader and Installers of Solar Products also engaged into
conducting training and consulting regarding solar installation plant. |
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Products : |
Not Available |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
Not Divulged |
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Imports : |
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Products : |
Raw Material |
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Countries : |
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Terms : |
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Selling : |
Cash, L/C and Credit |
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Purchasing : |
Cash, L/C and Credit |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
Wholesaler, Retailer’s and Others
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No. of Employees : |
30 (Approximately) |
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Bankers : |
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Auditors : |
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Name : |
N. Subramanian Chartered Accountants |
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Address : |
No.81, M.N.O. Complex, Greams Road, Chennai – 600006, Tamilnadu, India |
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Tel. No.: |
91-44-28292272/2273 |
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E-Mail : |
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PAN N Income-tax PAN of auditor or auditor's firm : |
AASPS7082A |
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Memberships : |
-- |
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Collaborators : |
-- |
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Associates/Subsidiaries : |
Not Available |
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 |
|
500000 |
Preference Shares |
Rs.100/- each |
Rs. 50.000 Million |
|
|
Total |
|
Rs. 90.000 Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
50000 |
Equity Shares |
Rs.10/- each |
Rs. 0.500
Million |
|
47700 |
Preference Shares |
Rs.100/- each |
Rs. 4.770
Million |
|
|
Total |
|
Rs. 5.270 Million |
FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED
BALANCE SHEET
|
SOURCES
OF FUNDS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
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|
|
|
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I.
EQUITY AND LIABILITIES |
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|
|
|
(1)Shareholders' Funds |
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|
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(a) Share Capital |
5.270 |
0.500 |
0.500 |
|
(b) Reserves & Surplus |
38.465 |
0.167 |
0.068 |
|
(c) Money received against
share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money
pending allotment |
0.001 |
21.450 |
0.000 |
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Total
Shareholders’ Funds (1) + (2) |
43.736 |
22.117 |
0.568 |
|
|
|
|
|
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(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
0.028 |
|
(b) Deferred tax liabilities
(Net) |
0.026 |
0.026 |
0.000 |
|
(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) |
0.026 |
0.026 |
0.028 |
|
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|
|
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(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade payables |
1.184 |
1.655 |
0.000 |
|
(c) Other current liabilities |
0.629 |
0.432 |
0.015 |
|
(d) Short-term provisions |
0.035 |
0.020 |
0.018 |
|
Total
Current Liabilities (4) |
1.848 |
2.107 |
0.033 |
|
|
|
|
|
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TOTAL |
45.610 |
24.250 |
0.629 |
|
|
|
|
|
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II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
0.556 |
0.450 |
0.115 |
|
(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 |
5.700 |
10.000 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
23.737 |
0.023 |
0.350 |
|
(e) Other Non-current assets |
0.842 |
0.020 |
0.031 |
|
Total
Non-Current Assets |
30.835 |
10.493 |
0.496 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
5.560 |
5.573 |
0.000 |
|
(c) Trade receivables |
2.112 |
0.483 |
0.000 |
|
(d) Cash and cash equivalents |
2.557 |
2.002 |
0.052 |
|
(e) Short-term loans and
advances |
4.546 |
5.699 |
0.081 |
|
(f) Other current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
14.775 |
13.757 |
0.133 |
|
|
|
|
|
|
TOTAL |
45.610 |
24.250 |
0.629 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Income |
13.157 |
12.494 |
0.889 |
|
|
Other Income |
0.262 |
0.066 |
0.000 |
|
|
TOTAL
(A) |
13.419 |
12.560 |
0.889 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
0.000 |
0.000 |
0.000 |
|
|
Purchases of Stock-in-Trade |
7.569 |
10.353 |
0.000 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
0.012 |
(5.573) |
0.153 |
|
|
Employees benefits expense |
1.316 |
0.862 |
0.000 |
|
|
Other expenses |
3.819 |
6.617 |
0.000 |
|
|
TOTAL
(B) |
12.716 |
12.259 |
0.153 |
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (C) |
0.703 |
0.301 |
0.736 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
0.458 |
0.051 |
0.026 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
0.245 |
0.250 |
0.710 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION (F) |
0.072 |
0.026 |
0.648 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX (E-F) (G) |
0.173 |
0.224 |
0.062 |
|
|
|
|
|
|
|
Less |
TAX (H) |
0.036 |
0.047 |
0.018 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX (G-H) (I) |
0.137 |
0.177 |
0.044 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
2.75 |
3.54 |
0.88 |
|
Particulars |
|
|
31.03.2015 |
|
Sales Turnover (Approximately) |
|
|
34.900 |
Expected Sales (2015-2016) : Rs. 200.000 Million (Got Government Orders)
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) |
(%) |
1.04 |
1.42 |
4.95 |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
5.34 |
2.41 |
82.79 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.43 |
1.57 |
9.86 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.00 |
0.01 |
0.11 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.00 |
0.00 |
0.05 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
8.00 |
6.53 |
4.03 |
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 |
0.500 |
0.500 |
5.270 |
|
Reserves & Surplus |
0.068 |
0.167 |
38.465 |
|
Share Application money pending allotment |
0.000 |
21.450 |
0.001 |
|
Net
worth |
0.568 |
22.117 |
43.736 |
|
|
|
|
|
|
long-term borrowings |
0.028 |
0.000 |
0.000 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Total
borrowings |
0.028 |
0.000 |
0.000 |
|
Debt/Equity
ratio |
0.049 |
0.000 |
0.000 |
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 |
0.889 |
12.494 |
13.157 |
|
|
|
1305.399 |
5.307 |
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 |
0.889 |
12.494 |
13.157 |
|
Profit |
0.044 |
0.177 |
0.137 |
|
|
4.95% |
1.42% |
1.04% |
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) |
Yes |
|
16 |
No. of employees |
Yes |
|
17 |
Details of sister concerns |
No |
|
18 |
Major suppliers |
Yes |
|
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 three 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 |
Yes |
|
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: Registered office of the company has been shifted from 155, Pepzen Court, 2nd floor, Arcot Road, Kodambakkam, Chennai – 600024, Tamilnadu, India to the present address w.e.f. 14.04.2011
OPERATION
As reported in the previous year, the company is able to secure good
orders for installation of solar power cells hope to make good profits from the
current financial onwards. The company raised resources in the form of equity
from non-residents at a premium for expending its activates. The company also
tied up working capital finance from Kotak Mahindra Bank Limited for its
operations. During the year 2013-2014, the company had identified a potential
partnership firm Advanced Heat Treatment Services a firm engaged in heat
treatment of components, for investments and had invested in the capital of the
firm. As the firm’s manufacturing plant at Maraimalai Nagar in the outskirts of
Chennai was closed down for more that year, the company imitated the steps for revival
of its operation. The share of loss of the company in the partnership is very
minimal and hence not accounted the same.
INDEX OF CHARGES:
|
S.NO. |
CHARGE ID |
DATE OF
CHARGE CREATION/MODIFICATION |
CHARGE
AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
10522787 |
25/06/2015 * |
27,500,000.00 |
KOTAK MAHINDRA BANK LIMITED |
27BKC, C 27, G BLOCK, BANDRA KURLA COMPLEX, BANDRA (EAST), MUMBAI, MAHARASHTRA - 400051, INDIA |
C57815789 |
*Date of charge modification
FIXED ASSETS
- Office
Equipment
- Air
conditioner
- Furniture and
Fixture
- Computer
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.64.88 |
|
|
1 |
Rs.99.89 |
|
Euro |
1 |
Rs.72.06 |
INFORMATION DETAILS
|
Information
Gathered by : |
DIP |
|
|
|
|
Analysis Done by
: |
KSH |
|
|
|
|
Report Prepared
by : |
GEET |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILITY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--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 |
|
44 |
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.