MIRA INFORM REPORT
|
Report No. : |
339510 |
|
Report Date : |
03.09.2015 |
IDENTIFICATION DETAILS
|
Name : |
HONEYWELL TURBO TECHNOLOGIES ( |
|
|
|
|
Registered
Office : |
Plot No. 4A, Raisoni Industrial Estate, Near Hinjewadi Phase II,
Taluka Mulshi, Village Mann, Pune-411057, Maharashtra |
|
Tel No.: |
91-20-66524074 / 66524000 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of Incorporation
: |
03.11.2004 |
|
|
|
|
Com. Reg. No.: |
11-019904 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 3240.000 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U29299PN2004PTC019904 |
|
|
|
|
IEC No.: |
3105000534 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
PNEH04792E |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCH5035J |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Turbo Chargers. |
|
|
|
|
No. of Employees
: |
Information denied by management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (46) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track record. For the financial year 2014, rating reflects sound financial risk
profile marked by improvement in performance of the company and decent
liquidity position. Also, it possesses zero debt balance sheet profile. Trade relations are reported to be fair. Business is active. Payments
are reported to be usually correct. The company can be considered for business dealing 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.
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
31-03-2013.
INFORMATION DENIED BY
|
Name : |
Mr. Rahul Kumar |
|
Designation : |
Finance Controller |
|
Contact No.: |
91-7722082662 |
|
Date : |
03.09.2015 |
LOCATIONS
|
Registered Office/ Factory : |
Plot No. 4 A, Raisoni Industrial Estate, Near Hinjewadi Phase II,
Taluka Mulshi, Village Mann, Pune-411057, Maharashtra, India |
|
Tel No. : |
91-20-66524074 / 66524000 |
|
Fax No.: |
91-20-66032863 / 66520229 / 30 |
|
E-Mail : |
|
|
Website : |
DIRECTORS
As on 08.08.2014
|
Name : |
Mr. Nathan Jeffrey Neuman |
|
Designation : |
Director |
|
Address : |
215 W 92, ST 6D, NY, New York, 100257477, USA |
|
Date of Birth/Age : |
07.05.1961 |
|
Date of Appointment : |
18.06.2013 |
|
DIN No.: |
06530895 |
|
|
|
|
Name : |
Mr. Anand Shukla Prabhakar |
|
Designation : |
Whole time director |
|
Address : |
7/3, Rameshwar Nagar, Anandwall, Gangapur Road, Nashik – 422013,
Maharashtra, India |
|
Date of Birth/Age : |
16.07.1973 |
|
Date of Appointment : |
08.08.2014 |
|
DIN No.: |
06897762 |
|
|
|
|
Name : |
Mr. Milind Mukund Godbole |
|
Designation : |
Managing Director |
|
Address : |
F3/5, Salunke Vihar, A. W.C.H.S., Kothrud, Pune – 411022, Maharashtra,
India |
|
Date of Birth/Age : |
06.11.1964 |
|
Date of Appointment : |
08.08.2014 |
|
DIN No.: |
05340620 |
|
|
|
|
Name : |
Mr. Tantia Amit Kumar |
|
Designation : |
Whole time Director |
|
Address : |
B-604, Royal Imperio, Near Hotel Shivar Garden, Pimple Sauda, Pune –
411017, Maharashtra,India |
|
Date of Birth/Age : |
11.06.1977 |
|
Date of Appointment : |
08.08.2014 |
|
DIN No.: |
06652441 |
KEY EXECUTIVES
|
Name : |
Mr. Sangeet Kaur Hunjan |
|
Designation : |
Secretary |
|
Address : |
Malti Apartments, Flat No.1, CTS No.740, Pimpri Waghere, Pimpri,
Pune-411017, Maharashtra, India |
|
Date of Birth/Age : |
01.10.1985 |
|
Date of Appointment : |
20.06.2012 |
|
PAN No.: |
ADKPH1877R |
|
|
|
|
Name : |
Mr. Rahul Kumar |
|
Designation : |
Finance Controller |
MAJOR SHAREHOLDERS
As on 08.08.2014
|
Names of Shareholders |
No. of Shares |
|
Honeywell Technologies SARL, Switzerland |
537170000 |
|
Honeywell Bermuda II Limited, Bermuda |
2830000 |
|
|
|
|
Total |
540000000 |
As on 08.08.2014
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 |
100.00 |
|
Total |
100.00 |
%20PRIVATE%20LIMITED%20-%20339510%2003-Sep-2015_files/image016.gif)
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Turbo Chargers. |
|
|
|
|
Products : |
Not Divulged |
|
|
|
|
Brand Names : |
Not Divulged |
|
|
|
|
Agencies Held : |
Not Divulged |
|
|
|
|
Exports : |
Not Divulged |
|
|
|
|
Imports : |
Not Divulged |
|
|
|
|
Terms : |
Not Divulged |
GENERAL INFORMATION
|
Suppliers : |
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Customers : |
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
No. of Employees : |
Information declined by the management |
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Bankers : |
|
|
Auditors : |
|
|
Name : |
Price Water House and Company Chartered Accountants |
|
Address : |
Mutha Towers, Suite No. 8, 5th Floor, Airport Road,
Yerawada, Pune-411006, Maharashtra, India |
|
PAN No.: |
AADFP9359C |
|
|
|
|
Controlling Entity : |
Honeywell Bermuda LLP |
|
|
|
|
Holding Company : |
Honeywell Technologies SARL |
|
|
|
|
Fellow Subsidiaries : |
Honeywell Turbo (India)
Private Limited CIN No.:
U34300PN2005PTC021030 |
CAPITAL STRUCTURE
As on 08.08.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
540000000 |
Equity Shares |
Rs.6/- each |
Rs. 3240.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
540000000 |
Equity Shares |
Rs.6/- each |
Rs. 3240.000
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 |
3240.000 |
2600.000 |
2600.000 |
|
(b) Reserves & Surplus |
2078.660 |
(12.580) |
(135.460) |
|
(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) |
5318.660 |
2587.420 |
2464.540 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities
(Net) |
0.000 |
107.580 |
44.120 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
11.750 |
5.160 |
3.310 |
|
Total
Non-current Liabilities (3) |
11.750 |
112.740 |
47.430 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade payables |
1615.480 |
51.160 |
90.150 |
|
(c) Other current liabilities |
739.070 |
2209.430 |
1088.730 |
|
(d) Short-term provisions |
57.900 |
6.190 |
5.270 |
|
Total
Current Liabilities (4) |
2412.450 |
2266.780 |
1184.150 |
|
|
|
|
|
|
TOTAL |
7742.860 |
4966.940 |
3696.120 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
2002.380 |
2102.760 |
2165.330 |
|
(ii) Intangible Assets |
1.670 |
1.090 |
3.170 |
|
(iii) Capital work-in-progress |
40.710 |
174.900 |
156.000 |
|
(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) |
4.020 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
155.590 |
162.980 |
168.350 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
|
|
Total
Non-Current Assets |
2204.370 |
2441.730 |
2492.850 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
875.680 |
108.750 |
105.080 |
|
(c) Trade receivables |
624.480 |
1601.120 |
477.900 |
|
(d) Cash and cash equivalents |
2626.310 |
29.380 |
4.490 |
|
(e) Short-term loans and
advances |
1393.860 |
757.010 |
615.800 |
|
(f) Other current assets |
18.160 |
28.950 |
0.000 |
|
Total
Current Assets |
5538.490 |
2525.210 |
1203.270 |
|
|
|
|
|
|
TOTAL |
7742.860 |
4966.940 |
3696.120 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Income |
|
|
|
|
|
Other Income |
|
|
|
|
|
TOTAL |
11102.620 |
1077.500 |
1030.620 |
|
|
|
|
|
|
|
Less |
EXPENSES |
9783.600 |
886.870 |
868.480 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
1319.020 |
190.630 |
162.140 |
|
|
|
|
|
|
|
Less |
TAX |
340.670 |
67.750 |
44.020 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
978.350 |
122.880 |
118.120 |
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
(12.580) |
(135.460) |
(235.580) |
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
Transfer to General Reserve |
135.460 |
0.000 |
0.000 |
|
|
Capital Reserves |
163.960 |
0.000 |
0.000 |
|
|
Total
|
299.420 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
Balance
Carried to the B/S |
666.350 |
(12.580) |
(135.460) |
|
|
|
|
|
|
|
|
EARNINGS
IN FOREIGN CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
8900.730 |
0.000 |
0.000 |
|
|
TOTAL
EARNINGS |
8900.730 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
1.81 |
0.47 |
NA |
%20PRIVATE%20LIMITED%20-%20339510%2003-Sep-2015_files/image003.gif){kind=small}
%20PRIVATE%20LIMITED%20-%20339510%2003-Sep-2015_files/image004.gif){kind=small}
%20PRIVATE%20LIMITED%20-%20339510%2003-Sep-2015_files/image005.gif){kind=small}
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 |
2209.730 |
330.810 |
307.790 |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin |
|
8.81 |
11.40 |
11.46 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
17.13 |
3.98 |
4.58 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.25 |
0.07 |
0.07 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.30 |
1.11 |
1.02 |
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 |
2600.000 |
2600.000 |
3240.000 |
|
Reserves & Surplus |
(135.460) |
(12.580) |
2078.660 |
|
Net
worth |
2464.540 |
2587.420 |
5318.660 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Total
borrowings |
0.000 |
0.000 |
0.000 |
|
Debt/Equity
ratio |
0.000 |
0.000 |
0.000 |
%20PRIVATE%20LIMITED%20-%20339510%2003-Sep-2015_files/image018.gif)
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 |
1030.620 |
1077.500 |
11102.620 |
|
|
|
4.549 |
930.406 |
%20PRIVATE%20LIMITED%20-%20339510%2003-Sep-2015_files/image020.gif)
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 |
1030.620 |
1077.500 |
11102.620 |
|
Profit |
118.120 |
122.880 |
978.350 |
|
|
11.46% |
11.40% |
8.81% |
%20PRIVATE%20LIMITED%20-%20339510%2003-Sep-2015_files/image022.gif)
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 |
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 |
SCHEME OF ARRANGEMENT AND AMALGAMATION
The Scheme of
Arrangement and Amalgamation of Honeywell Turbo (India) Private Limited with
the Company, under Sections 391 to 394 read with Sections 78, 100 to 104 of the
Companies Act, 1956, was sanctioned by Honble Bombay High Court, videan order
dated July 5, 2013. The said Scheme was made operative from July 29, 2013, upon
filing the same with the Registrar of Companies.
Pursuant to the
said Order of Hon'ble Bombay High Court the assets and liabilities of Honeywell
Turbo (India) Private Limited were transferred to and vested in the Company
with effect from April 1, 2012, the Appointed date as per the Scheme. The
effect of the amalgamation has been given to in the financial statements for
the year.
OPERATIONS OF THE COMPANY
The Company has
reported revenue of 11,102.62 million and a net profit of 978.35 million. The
alignment of business operations of Honeywell Turbo (India) Private Limited
with the Company has resulted in administrative and operational rationalization
and optimal utilization of various resources. It is expected to provide synergy
benefits, increase efficiencies and reduce overall cost in the coming years.
INDEX OF CHARGES: NO
CHARGES EXIST FOR THE COMPANY
FIXED ASSETS
- Land
- Building
- Plant and Machinery
- Tooling
- Furniture and Fittings
- Computers and Peripherals
- Office Equipment
- 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. 66.16 |
|
|
1 |
Rs. 101.22 |
|
Euro |
1 |
Rs. 74.61 |
INFORMATION DETAILS
|
Information
Gathered by : |
DIP |
|
|
|
|
Analysis Done by
: |
TRI |
|
|
|
|
Report Prepared
by : |
ART |
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 |
6 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--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 |
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 |
|
46 |
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.