MIRA INFORM REPORT
|
Report No. : |
342853 |
|
Report Date : |
26.09.2015 |
IDENTIFICATION DETAILS
|
Name : |
TIRTHAK PAPER MILL PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Survey No. 14, Lilapar Road, Taluka Morbi, Lilapar, Rajkot – 363641,
Gujarat |
|
|
|
|
Tel. No.: |
91-2822-220277 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
30.01.2006 |
|
|
|
|
Com. Reg. No.: |
04-047622 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.45.000 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U21000GJ2006PTC047622 |
|
|
|
|
IEC No.: |
2406001407 |
|
|
|
|
TAN No.: [Tax Deduction & Collection
Account No.] |
RKTT00707A |
|
|
|
|
PAN No.: [Permanent Account No.] |
AACCT3813F |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Duplex Paper. |
|
|
|
|
No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (42) |
|
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 ended 2014, the company has healthy scale of operations
marked by consistent revenue growth along with profitability margin of 2.3%. The ratings reflects company’s satisfactory financial position,
adequate net worth along with favorable gap between trade payables and
receivables. Trade relations are fair. Business is active. Payments are 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.
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 DECLINED
Management non –cooperative (91-2822-220277)
LOCATIONS
|
Registered Office/ Factory : |
Survey No. 14, Lilapar Road, Taluka Morbi, Lilapar, Rajkot – 363641,
Gujarat, India |
|
Tel. No.: |
91-2822-220277 |
|
Mobile No.: |
91-9825140640 (Mr. Kiritbhai) |
|
Fax No.: |
91-2822-220377 |
|
E-Mail : |
DIRECTORS
As on 30.09.2014
|
Name : |
Mr. Kiritbhai Jivrajbhai Fultaria |
|
Designation : |
Director |
|
Address : |
Vidhyutnagar, Ravapar Road, Morbi-363641, Gujarat, India |
|
Date of Birth/Age : |
28.12.1975 |
|
PAN No.: |
AGDPP9404A |
|
Date of Appointment : |
30.01.2006 |
|
Din No.: |
00534561 |
|
PAN No.: |
AGDPP9404A |
|
|
|
|
Name : |
Mr. Nagjibhai Jivrajbhai Fultaria |
|
Designation : |
Director |
|
Address : |
Vidhyutnagar, Ravapar Road, Morbi-363641, Gujarat, India |
|
Date of Birth/Age : |
05.07.1951 |
|
PAN No.: |
AALHP1292A |
|
Date of Appointment : |
30.01.2006 |
|
Din No.: |
02360551 |
|
PAN No.: |
ABUPP2702M |
|
|
|
|
Name : |
Mr. Pravinbhai Kanjibhai Kasundra |
|
Designation : |
Director |
|
Address : |
201, Shaligram Apartment, Opposite Om party Plot, Kenal Chokdi, Ravapar Road, Morbi – 363641, Gujarat, India |
|
Date of Birth/Age : |
09.05.1976 |
|
PAN No.: |
AASPK6277F |
|
Date of Appointment : |
30.01.2006 |
|
Din No.: |
00550629 |
|
PAN No.: |
AASPK6277F |
|
|
|
|
Name : |
Mr. Nareshbhai Jivrajbhai Fultaria |
|
Designation : |
Director |
|
Address : |
Vidhyutnagar, Ravapar Road, Morbi-363641, Gujarat, India |
|
Date of Birth/Age : |
11.02.1980 |
|
PAN No.: |
AAGPF2724C |
|
Date of Appointment : |
17.02.2011 |
|
'Din No.: |
03418275 |
|
PAN No.: |
AAGPF2724C |
|
|
|
|
Name : |
Mr. Vipulkumar Vanjibhai Patel |
|
Designation : |
Director |
|
Address : |
Gautam Society, Ravapar Road, Morbi-363641, Gujarat, India |
|
Date of Birth/Age : |
09.09.1975 |
|
PAN No.: |
AIXPP0853F |
|
Date of Appointment : |
17.02.2011 |
|
Din No.: |
01172321 |
|
PAN No.: |
AIXPP0853F |
|
|
|
|
Name : |
Mr. Arvindbhai Jivrajbhai Patel |
|
Designation : |
Director |
|
Address : |
Vidhyutnagar, Ravapar Road, Morbi-363641, Gujarat, India |
|
Date of Birth/Age : |
11.02.1980 |
|
PAN No.: |
AGDPP9403H |
|
Date of Appointment : |
17.02.2011 |
|
Din No.: |
00911134 |
|
PAN No.: |
AAKHP9700J |
|
|
|
|
Name : |
Mr. Thobhanbhai Jivrajbhai Patel |
|
Designation : |
Director |
|
Address : |
202, Shaligram Apartments, Ravapar Road, Morbi, Gujarat, India |
|
Date of Birth/Age : |
05.07.1963 |
|
PAN No.: |
ANHPK8229R |
|
Date of Appointment : |
17.02.2011 |
|
Din No.: |
03418278 |
|
PAN No.: |
ANHPK8229R |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2014
|
Names of Shareholders |
|
No. of Shares |
|
Kiritbhai Jivrajbhai Fultaria |
|
646000 |
|
Vishal Bhanjibhai Fultaria |
|
2500 |
|
Jivrajbhai Nagjibhai Fultaria |
|
884690 |
|
Pravinbhai Kanjibhai Kasundra |
|
96400 |
|
Arvindbhai Jivrajbhai Patel |
|
568500 |
|
Nipaben Arivndbhai Fultaria |
|
215000 |
|
Nareshbhai Jivrajbhai Fultaria |
|
411500 |
|
Jayesh Vanjibhai Padliya |
|
80000 |
|
Dharmishthaben Vipulbhai Padliya |
|
90000 |
|
Bhagwatiben Jivrajbhai Kasundra |
|
199200 |
|
Geetaben Jayantibhai Kasundra |
|
300800 |
|
Vipul V Padaliya |
|
70000 |
|
Vanjibhai Babubhai Patel |
|
80000 |
|
Jivrajbhai T. Kasundra |
|
130000 |
|
Jayshreeben D. Kasundra |
|
115000 |
|
Mansukhlal K. Patel |
|
115000 |
|
Alpaben Kiritbhai Fultaria |
|
180000 |
|
Rukshmaniben Jivrajbhai Fultaria |
|
172500 |
|
Simaben N. Fultaria |
|
70910 |
|
Jignesh K. Fultaria |
|
22500 |
|
Kanjibhai R. Patel |
|
22500 |
|
Nayanaben B. Kasundra |
|
27000 |
|
Total |
|
4500000 |
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 of Duplex Paper. |
|
|
|
|
Brand Names : |
Not Divulged |
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Agencies Held : |
Not Divulged |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
Not Divulged |
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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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
Nanalal P. Hadial Chartered Accountants |
|
Address : |
Shakti Complex, 1St Floor, Near Dr. Rupala Hospital 16, Savsar Plot, Morbi – 1, Gujarat, India |
|
PAN N Income-tax PAN of auditor or auditor's firm : |
AAHPH2014C |
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|
|
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Memberships : |
-- |
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|
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Collaborators : |
-- |
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|
|
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Associates/Subsidiaries : |
Not Divulged |
CAPITAL STRUCTURE
As on 30.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5000000 |
Equity Shares |
Rs.10/- each |
Rs.50.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4500000 |
Equity Shares |
Rs.10/- each |
Rs.45.000 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 |
45.000 |
45.000 |
45.000 |
|
(b) Reserves & Surplus |
209.709 |
175.271 |
141.612 |
|
(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) |
254.709 |
220.271 |
186.612 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
101.334 |
112.309 |
141.759 |
|
(b) Deferred tax liabilities
(Net) |
3.925 |
3.400 |
3.628 |
|
(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) |
105.259 |
115.709 |
145.387 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
258.047 |
262.309 |
180.911 |
|
(b) Trade payables |
168.539 |
127.411 |
221.963 |
|
(c) Other current liabilities |
32.883 |
41.270 |
44.544 |
|
(d) Short-term provisions |
25.025 |
26.127 |
32.550 |
|
Total
Current Liabilities (4) |
484.494 |
457.117 |
479.968 |
|
|
|
|
|
|
TOTAL |
844.462 |
793.097 |
811.967 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
228.756 |
209.452 |
230.696 |
|
(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 |
0.100 |
0.100 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
0.000 |
0.000 |
0.000 |
|
(e) Other Non-current assets |
0.009 |
0.009 |
15.575 |
|
Total
Non-Current Assets |
228.865 |
209.561 |
246.271 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
186.293 |
159.243 |
251.588 |
|
(c) Trade receivables |
358.438 |
376.783 |
274.680 |
|
(d) Cash and cash equivalents |
25.234 |
16.547 |
11.497 |
|
(e) Short-term loans and
advances |
9.721 |
11.348 |
12.158 |
|
(f) Other current assets |
35.911 |
19.615 |
15.773 |
|
Total
Current Assets |
615.597 |
583.536 |
565.696 |
|
|
|
|
|
|
TOTAL |
844.462 |
793.097 |
811.967 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income From Operation |
1439.883 |
1489.324 |
1561.629 |
|
|
|
Other Income |
1.586 |
0.818 |
0.982 |
|
|
|
TOTAL |
1441.469 |
1490.142 |
1562.611 |
|
|
|
|
|
|
|
|
|
DEPRECIATION & AMORTIZATION EXPENSES |
29.651 |
33.019 |
34.732 |
|
|
|
|
|
|
|
|
|
|
PROVISION OF TAX |
16.949 |
16.716 |
16.528 |
|
|
|
|
|
|
|
|
|
|
DEFF. TAX LIABILITIES |
0.524 |
(0.288) |
0.358 |
|
|
|
|
|
|
|
|
|
|
NET PROFIT/LOSS |
34.438 |
33.659 |
32.958 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
7.65 |
4.48 |
NA |
|
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) operation |
NA |
NA |
NA |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
2.39 |
2.26 |
2.11 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
1.41 |
1.70 |
1.73 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.27 |
1.28 |
1.18 |
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 |
45.000 |
45.000 |
45.000 |
|
Reserves & Surplus |
141.612 |
175.271 |
209.709 |
|
Net worth |
186.612 |
220.271 |
254.709 |
|
|
|
|
|
|
long-term borrowings |
141.759 |
112.309 |
101.334 |
|
Short term borrowings |
180.911 |
262.309 |
258.047 |
|
Total
borrowings |
322.670 |
374.618 |
359.381 |
|
Debt/Equity ratio |
1.729 |
1.701 |
1.411 |
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) |
|
Income From Operation |
1561.629 |
1489.324 |
1439.883 |
|
|
|
(4.630) |
(3.320) |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Income From Operation |
1561.629 |
1489.324 |
1439.883 |
|
Profit |
32.958 |
33.659 |
34.438 |
|
|
2.11% |
2.26% |
2.39% |
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 |
No |
|
8] |
Designation of contact person |
No |
|
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 |
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 |
UNSECURED LOAN
|
PARTICULARS |
31.03.2014 (Rs.
in Million) |
31.03.2013 (Rs.
in Million) |
|
Long-term
Borrowings |
|
|
|
Loans and advances from directors |
20.444 |
37.946 |
|
Loans and advances from others |
30.546 |
37.448 |
|
Total |
50.991 |
75.394 |
INDEX
OF CHARGES
|
S.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10359143 |
23/01/2014 * |
469,600,000.00 |
The Cosmos Co-Operative Bank Limited |
Opp. Sardar Baug, Nr. Petrol Pump, Sanala Road, Morbi, Gujarat -
363641, India |
B94988557 |
* Date of charge modification
COMPANYS PERFORMANCE:
The Company has reported income from operation is of Rs. 1439.883 Million during the year as compare to previous year’s income from operation of Rs. 1489.324 Million. The Company has earned net profit of Rs. 34.438 Million during the year as compare to previous year’s net profit of Rs. 33.659 Million. In order to conserve resources, the directors do not recommend any dividend for the financial year ended, March 31, 2014.
FIXED ASSETS
Tangible assets
- Land
- Buildings
- Plant and equipment
- Furniture and fixtures
- Vehicles
- Office equipment
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.66.09 |
|
|
1 |
Rs.100.88 |
|
Euro |
1 |
Rs.73.95 |
INFORMATION DETAILS
|
Information
Gathered by : |
NYA |
|
|
|
|
Analysis Done by
: |
TRI |
|
|
|
|
Report Prepared
by : |
JYTK |
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 |
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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
45 |
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.