MIRA INFORM REPORT
|
Report No. : |
341991 |
|
Report Date : |
23.09.2015 |
IDENTIFICATION DETAILS
|
Name : |
I.G. INTERNATIONAL PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
H. No. 1294, Sector 19B, Chandigarh - 160019 |
|
Tel. No.: |
91-22-66272000 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
03.02.2010 |
|
|
|
|
Com. Reg. No.: |
53-032009 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs.47.320 Million |
|
|
|
|
IEC No.: |
0311067875 |
|
|
|
|
CIN No.: [Company Identification
No.] |
U15400CH2010PTC032009 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AACCI2508Q |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Traders in Fresh and Frozen Fruits and Vegetables. |
|
|
|
|
No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
B (31) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 310000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
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|
Comments : |
Subject was established in the year 2010, having moderate track. Ratings takes into consideration marginal decrease of profit in financial
year 2014. Further, the company has taken additional long term borrowings in
the year under consideration. Trade relations are fair. Business is active. Payment terms are
reported to be slow but correct. 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.
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 |
|
Restricted |
C2 |
|
Off-credit |
D |
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. Amit |
|
Designation : |
Accountant Head |
|
Contact No.: |
91-22-66272000 |
|
Date : |
19.09.2015 |
LOCATIONS
|
Registered Office : |
H. No. 1294, Sector 19B, Chandigarh - 160019, India |
|
Tel. No.: |
91-22-66272000 |
|
Fax No.: |
91-22-66272084 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Corporate Office: |
No. 802, Akshar Tower Blue Chip Building, Turbe Naka, Navi Mumbai –
400706, Maharashtra, India |
|
|
|
|
Sales Office: |
F – 85/86, APMC Fruit Market, Sector – 19, Navi Mumbai – 400703,
Maharashtra, India |
|
|
|
|
Branches : |
Located At:
|
DIRECTORS
As on 30.09.2014
|
Name : |
Mr. Gianchand Ramchand Arora |
|
Designation : |
Director |
|
Address : |
Flat No. 203, 2nd Floor, NRI Complex, B – 26, Nerul, Navi
Mumbai, Maharashtra, India |
|
Date of Birth/Age : |
20.10.1951 |
|
Date of Appointment : |
03.02.2010 |
|
PAN No.: |
ABGPA9809G |
|
DIN No.: |
01934634 |
|
|
|
|
Name : |
Mr. Sanjay Gianchand Arora |
|
Designation : |
Director |
|
Address : |
Flat No. 203, 2nd Floor, NRI Complex, B – 26, Nerul, Navi
Mumbai, Maharashtra, India |
|
Date of Birth/Age : |
31.08.1976 |
|
Date of Appointment : |
03.02.2010 |
|
PAN No.: |
ABGPA9807J |
|
DIN No.: |
02061347 |
|
|
|
|
Name : |
Mr. Tarun Arora |
|
Designation : |
Director |
|
Address : |
Flat No. 203, 2nd Floor, NRI Complex, B – 26, Nerul, Navi
Mumbai, Maharashtra, India |
|
Date of Birth/Age : |
02.05.1986 |
|
Date of Appointment : |
04.10.2011 |
|
PAN No.: |
AGNPA3469N |
|
DIN No.: |
03314408 |
KEY EXECUTIVES
|
Name : |
Mr. Amit |
|
Designation : |
Accountant Head |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2014
|
Names of Shareholders |
|
No. of Shares |
|
Gianchand Ramchand Arora |
|
401136 |
|
Sanjay Gianchand Arora |
|
386338 |
|
Tarun Arora |
|
147224 |
|
Nisha Arora |
|
11692 |
|
Total |
|
946390 |
As on 30.09.2014
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Traders in Fresh and Frozen Fruits and Vegetables. |
|
|
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|
Products : |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
Not Available |
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Imports : |
Not Available |
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Terms : |
Not Available |
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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Bankers : |
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Facilities : |
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Auditors : |
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|
Name : |
K. K. Bassi and Associates Chartered Accountants |
|
Address : |
410, Level 4, Centrum Plaza, Golf Course Road, Sector 53, Gurgaon, NCR
New Delhi, Pin – 122011, India |
|
Mobile No.: |
91-
9417027223 |
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E-Mail : |
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PAN N Income-tax PAN of auditor or auditor's firm : |
AANFK6039J |
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Memberships : |
-- |
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Collaborators : |
-- |
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|
|
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Associates/Subsidiaries : |
Not Available |
CAPITAL STRUCTURE
As on 30.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1200000 |
Equity Shares |
Rs.50/- each |
Rs.60.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
946390 |
Equity Shares |
Rs.50/- each |
Rs.47.320 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 |
47.320 |
30.125 |
0.100 |
|
(b) Reserves & Surplus |
61.414 |
33.427 |
0.000 |
|
(c) Money received against
share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
0.000 |
0.656 |
35.150 |
|
Total
Shareholders’ Funds (1) + (2) |
108.734 |
64.208 |
35.250 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
63.010 |
140.770 |
0.000 |
|
(b) Deferred tax liabilities
(Net) |
6.408 |
4.559 |
0.000 |
|
(c) Other long term
liabilities |
169.476 |
0.000 |
0.000 |
|
(d) long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total
Non-current Liabilities (3) |
238.894 |
145.329 |
0.000 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
181.790 |
186.778 |
0.000 |
|
(b) Trade payables |
92.550 |
120.463 |
0.000 |
|
(c) Other current liabilities |
37.282 |
7.251 |
2.917 |
|
(d) Short-term provisions |
12.060 |
8.778 |
0.032 |
|
Total
Current Liabilities (4) |
323.682 |
323.270 |
2.949 |
|
|
|
|
|
|
TOTAL |
671.310 |
532.807 |
38.199 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
238.984 |
112.462 |
20.573 |
|
(ii) Intangible Assets |
0.104 |
0.117 |
0.130 |
|
(iii) Capital work-in-progress |
35.691 |
24.033 |
14.629 |
|
(iv) Intangible assets under
development |
0.000 |
0.603 |
0.603 |
|
(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 |
8.580 |
2.313 |
1.260 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
283.359 |
139.528 |
37.195 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
66.249 |
170.739 |
0.000 |
|
(c) Trade receivables |
232.615 |
90.768 |
0.000 |
|
(d) Cash and cash equivalents |
34.126 |
29.469 |
0.909 |
|
(e) Short-term loans and
advances |
4.072 |
7.991 |
0.079 |
|
(f) Other current assets |
50.889 |
94.312 |
0.015 |
|
Total
Current Assets |
387.951 |
393.279 |
1.004 |
|
|
|
|
|
|
TOTAL |
671.310 |
532.807 |
38.199 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
|
|
|
|
|
|
Other Income |
|
|
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
Less |
EXPENSES |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
PROFIT AFTER TAX |
27.986 |
28.027 |
0.000 |
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
29.57 |
29.61 |
0.000 |
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 flow from operating activity |
156.962 |
40.416 |
0.000 |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Debt Equity Ratio (Total Debt /Networth) |
|
2.25 |
5.10 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.20 |
1.22 |
0.34 |
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 |
30.125 |
47.320 |
|
Reserves & Surplus |
0.000 |
33.427 |
61.414 |
|
Share Application money pending allotment |
35.150 |
0.656 |
0.000 |
|
Net
worth |
35.250 |
64.208 |
108.734 |
|
long-term borrowings |
0.000 |
140.770 |
63.010 |
|
Short term borrowings |
0.000 |
186.778 |
181.790 |
|
Total
borrowings |
0.000 |
327.548 |
244.800 |
|
Debt/Equity
ratio |
0.000 |
5.101 |
2.251 |
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 |
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 |
No |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last two 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: Registered office of the company has been shifted from SCF 22, Subzi Mamdi, Sector-26, Chandigarh – 160026, India to the present address w.e.f.30.09.2010
UNSECURED LOAN
|
PARTICULARS |
31.03.2014 (Rs.
in Million) |
31.03.2013 (Rs.
in Million) |
|
Long Term
Borrowings |
|
|
|
Loans and advances from related parties |
0.000 |
133.375 |
|
|
|
|
|
Total |
0.000 |
133.375 |
INDEX
OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10573262 |
02/06/2015 |
10,100,000.00 |
DBS Bank LIMITED |
DLF Capitol
Point, Ground Floor and First Floor, Baba Kharak Singh Marg, Connaught Place,
New Delhi, - 110001, INDIA |
C55622666 |
|
2 |
10582302 |
17/04/2015 |
10,360,000.00 |
HDFC BANK
LIMITED |
HDFC BANK
HOUSESENAPATI BAPAT MARG, LOWER PAREL WEST, MUMBAI, Maharashtra - 400013,
INDIA |
C57552853 |
|
3 |
10589053 |
21/01/2015 |
4,998,000.00 |
HDFC BANK
LIMITED |
HDFC BANK HOUSESENAPATI
BAPAT MARG, LOWER PAREL West, MUMBAI, Maharashtra - 400013, INDIA |
C51076560 |
|
4 |
10550249 |
17/12/2014 |
60,000,000.00 |
YES BANK LIMITED |
9TH FLOOR, NEHRU
CENTRE, DISCOVERY OF INDIA,, DR. |
C44173805 |
|
5 |
10521084 |
11/12/2014 * |
170,000,000.00 |
ICICI BANK
LIMITED |
LANDMARKRACE
COURCE CIRCLE, ALKAPURI, BARODA, Gujarat - 390015, INDIA |
C37742871 |
|
6 |
10469445 |
22/03/2014 * |
63,000,000.00 |
YES BANK LIMITED |
YES BANK
LIMITED, DR. ANNIE BESANT ROAD, WORLI, |
C02204691 |
|
7 |
10384168 |
09/10/2012 |
6,750,000.00 |
Axis Bank Ltd |
Agri Business
Centre, Office No.204/203, Stellar |
B61189346 |
|
8 |
10384162 |
10/05/2013 * |
36,100,000.00 |
Axis Bank
Limited |
TRISHUL 3RD
FLOOR OPP SAMARTHESHWAR TEMPLE, LAW GARDEN ELLISBRIDGE, AHMEDABAD, Gujarat -
380006, INDIA |
B75524736 |
|
9 |
10366219 |
17/07/2015 * |
290,540,000.00 |
HDFC BANK
LIMITED |
HDFC BANK
HOUSESENAPATI BAPAT MARG, LOWER PAREL WEST, MUMBAI, Maharashtra - 400013,
INDIA |
C60967148 |
FIXED ASSETS
- Land
- Buildings
- Other building
- Plant and equipment
- Other plant and equipment
- Other plant and equipment
- 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 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.65.62 |
|
|
1 |
Rs.101.73 |
|
Euro |
1 |
Rs.73.26 |
INFORMATION DETAILS
|
Information Gathered
by : |
SVA |
|
|
|
|
Analysis Done by
: |
KIN |
|
|
|
|
Report Prepared
by : |
SUD |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILITY |
1~10 |
4 |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
31 |
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.