- Summary Information
|
Company Name |
SAKAL PAPERS LIMITED |
Principal Name 1 |
Mr. Pratap Govind
Pawar |
|
Status |
Good |
Principal Name 2 |
Ms. Lila Claude
Parulekar |
|
Street Address |
595, Budhwar
Peth, Pune – 411 002, |
||
|
Established Date |
16.02.1948 |
SIC Code |
--- |
|
Telephone# |
91-20-24455500/24455501/24455588/24455500
/ 24405500 |
Business Style 1 |
Printing |
|
Fax # |
91-20-24450583 |
Business Style 2 |
Publishing |
|
Homepage |
Product Name 1 |
--- |
|
|
# of employees |
--- |
Product Name 2 |
--- |
|
Paid up capital |
Rs. 2.500,000/- |
Product Name 3 |
--- |
|
Shareholders |
|
Banking |
Bank
of |
|
Public Limited Corp. |
No |
Business Period |
61 Years |
|
IPO |
No |
International Ins. |
- |
|
Public |
No |
Rating |
Aa |
|
Related
Company |
|||
|
Relation
|
Country |
Company
Name |
CEO |
|
Associates / Subsidiaries |
|
Ajay Metachem Limited- Pune, Supplier
of Chemical |
-- |
|
|
|
|
|
|
Note |
- |
||
- Summary Financial Statement
|
Balance Sheet as of |
31.03.2009 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
1,015,616,000 |
Current Liabilities |
687,540,000 |
|
Inventories |
2,16,111,000 |
Long-term Liabilities |
1,046,974,000
|
|
Fixed Assets |
1,570,560,000 |
Other Liabilities |
30,270,000 |
|
Deferred Assets |
0.000 |
Total Liabilities |
1,764,784,000 |
|
Invest& other Assets |
66,420,000 |
Retained Earnings |
1,101,423,000 |
|
|
|
Net Worth |
1,103,923,000 |
|
Total Assets |
2,868,707,000 |
Total Liab. & Equity |
2,868,707,000 |
|
Total Assets (Previous Year) |
2,967,702,000 |
|
|
|
P/L Statement as of |
31.03.2009 |
(Unit: Indian Rs.) |
|
|
Sales |
3,135,843,000 |
Net Profit |
25,538,000 |
|
Sales(Previous yr) |
2,892,288,000 |
Net Profit(Prev.yr) |
304,170,000 |
MIRA
INFORM REPORT
|
Report Date : |
07.08.2010 |
IDENTIFICATION DETAILS
|
Name : |
SAKAL PAPERS
LIMITED |
|
|
|
|
Registered
Office : |
595, Budhwar
Peth, Pune – 411002, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2009 |
|
|
|
|
Date of
Incorporation : |
16.02.1948 |
|
|
|
|
Com. Reg. No.: |
11-6177 |
|
|
|
|
CIN No.: |
U22121PN1948PLC006177 |
|
|
|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
NGPS03468D |
|
|
|
|
Legal Form : |
A Closely Held
Public Limited Liability company |
|
|
|
|
Line of
Business : |
Printing and
Publishing of Newspapers. |
RATING & COMMENTS
|
MIRA’s Rating : |
Aa (76) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Maximum Credit Limit : |
USD 4415600 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a Sakal group company. It is a well established and a reputed
publisher of SAKAL newspapers. Financial position of the company appears to
be sound. Trade relations are reported as fair. Business is active. Payments
are reported to be regular and as per commitments. The company can be considered good for normal 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 – April 1, 2010
|
Country Name |
Previous Rating (31.12.2009) |
Current Rating (01.04.2010) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INFORMATION PARTED BY (GENERAL DETAILS)
|
Name : |
Mr. M S Garcha |
|
Designation : |
Company Secretary |
LOCATIONS
|
Registered
Office/ Press : |
595, Budhwar Peth,
Pune – 411 002, |
|
Tel. No.: |
91-20-24455500/24455501/24455588/24455500
/ 24405500 |
|
Fax No.: |
91-20-24450583 |
|
E-Mail : |
|
|
Website : |
|
|
Location: |
Owned |
|
|
|
|
Administration
Office : |
154, |
|
Tel. No.: |
91-22-24158104/
24160986 |
|
Fax No.: |
91-22-24186984 |
|
|
|
|
Branches : |
Located
at :
|
DIRECTORS
|
Name : |
Mr. Pratap Govind
Pawar |
|
Designation : |
Chairman cum
Managing Director |
|
Address : |
S No. 73, |
|
Date of
Birth/Age : |
15.10.1944 |
|
Qualification: |
Graduate |
|
Date of
Appointment : |
21.09.1985 |
|
|
|
|
Name : |
Ms. Lila Claude
Parulekar |
|
Designation : |
Whole Time Director |
|
Address : |
4-A |
|
Date of
Birth/Age : |
31.01.1936 |
|
Date of
Appointment : |
06.09.1977 |
|
|
|
|
Name : |
Mrs. Supriya
Sadanand Sule |
|
Designation : |
Director |
|
Address : |
House No. 2, First
Floor, Silver Oak Estate, |
|
Date of
Birth/Age : |
30.06.1969 |
|
Date of
Appointment : |
30.12.1996 |
|
|
|
|
Name : |
Mr. Abhijit
Pratap Pawar |
|
Designation : |
Managing Director |
|
Address : |
S No. 73, |
|
Date of
Birth/Age : |
17.02.1972 |
|
Qualification: |
Graduate |
|
Date of
Appointment : |
30.12.1996 |
|
|
|
|
Name : |
Mr. Shrikrishna
Narhar Inamdar |
|
Designation : |
Director |
|
Address : |
2A, Ameya
Apartment, Near Kirti College 1193 B Kashi Dhuru Marg, Mumbai – 400028,
Maharashtra, India |
|
Date of
Birth/Age : |
06.05.1945 |
|
Date of
Appointment : |
22.06.2005 |
|
|
|
|
Name : |
Mrs. Mrunalini A.
Pawar |
|
Designation : |
Director |
|
Address : |
S No. 73, |
|
Date of
Birth/Age : |
22.10.1976 |
|
Date of
Appointment : |
24.05.2008 |
|
|
|
|
Name : |
Mr. Raghunath A. Mashelkar |
|
Designation : |
Director |
|
Address : |
Raghunath, D/ 4, Varsha Path, Aundh, Pune – 411 045, |
|
Date of
Birth/Age : |
01.01.1943 |
|
Date of
Appointment : |
13.08.2008 |
|
|
|
|
Name : |
Mr. Bhalchandra
V. Tambe |
|
Designation : |
Director |
|
Address : |
|
|
Date of
Birth/Age : |
28.06.1940 |
|
Date of
Appointment : |
13.08.2008 |
KEY EXECUTIVES
|
Name : |
Mr. Mahendra
Singh Garcha |
|
Designation : |
Secretary |
|
Address : |
501, Cosmopolitan
Housing Society, S. No.131/2, Aundh, Pune – 411 007, |
|
Date of Birth/Age : |
14.03.1964 |
|
Date of Appointment : |
01.09.2005 |
|
Date of Cessation: |
01.11.2008 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As On 31.03.2009
|
Names of Shareholders |
|
No. of Shares |
|
Mr. S. G. P.
Parulekar |
|
560 |
|
Mrs. Lila Claude
Parulekar |
|
2396 |
|
Mr. Pratap Govind
Pawar |
|
50 |
|
Yashad Hospital
Private Limited |
|
2726 |
|
APP Media Private
Limited |
|
5999 |
|
Namrata Film
Enterprises Private Limited |
|
2100 |
|
Mr. Pratap Govind
Pawar and APP Media Private Limited |
|
50 |
|
Panhala
Investment Private Limited |
|
5000 |
|
Temblai
Investment Private Limited |
|
3776 |
|
Mr.
Chandrashekhar Hari Joshi |
|
1317 |
|
Mr. Abhijit
Pratap Pawar |
|
1026 |
|
TOTAL |
|
25000 |
BUSINESS DETAILS
|
Line of Business : |
Printing and
Publishing of Newspapers. |
|
|
|
|
Imports : |
|
|
Products : |
Raw Material |
|
Countries : |
v
v
U.S.A |
|
|
|
|
Terms : |
|
|
Purchasing : |
L/C and Credit |
GENERAL INFORMATION
|
Bankers : |
|
||||||||||||||||||||
|
|
|
||||||||||||||||||||
|
Facilities : |
Credit Limit- Rs. 2239.561 Millions
|
|
Banking
Relations : |
Satisfactory |
|
|
|
|
Auditors : |
|
|
Name : |
G. M. Oka and Company Chartered
Accountants |
|
Address : |
32, Swapna Nagri,
|
|
Tel. No.: |
91-20-30287900/30287500 |
|
Fax No.: |
91-20-25440143 |
|
E-Mail : |
|
|
|
|
|
Associates/Subsidiaries : |
v Ajay Metachem Limited- Pune, Supplier of Chemical v United Metachem Private Limited-Pune, Supplier of Chemical v Ojas Engineering Private Limited v Modular Finance and Consultancy Private Limited v Gomantak Private Limited v Wikas Electrical and Ceramic Products Private Limited v A P Holding Private Limited v Stamford Warchonologies Developers Private Limited v D S L Ventures Private Limited v Octon Technologie Private Limited v Yashad Hospital Private Limited v Supriya Holding Private Limited v Lap Finance and Consultancy Private Limited |
CAPITAL STRUCTURE
As on 31.03.2009
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
100000 |
Equity Shares |
Rs.100/- Each |
Rs. 10.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
25000 |
Equity Shares |
Rs.100/-
Each |
Rs. 2.500
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2009 |
31.03.2008 |
31.03.2007 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
2.500 |
2.500 |
2.500 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
1101.423 |
1079.004 |
792.901 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
1103.923 |
1081.504 |
795.401 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
1026.808 |
935.764 |
626.329 |
|
|
2] Unsecured Loans |
20.166 |
24.682 |
30.672 |
|
|
TOTAL BORROWING |
1046.974 |
960.446 |
657.001 |
|
|
DEFERRED TAX LIABILITIES |
30.168 |
17.658 |
13.543 |
|
|
|
|
|
|
|
|
TOTAL |
2181.065 |
2059.608 |
1465.945 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
1570.560 |
843.712 |
509.943 |
|
|
Capital work-in-progress |
40.146 |
196.203 |
6.506 |
|
|
|
|
|
|
|
|
INVESTMENT |
26.274 |
17.324 |
41.776 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
216.111
|
104.912 |
124.430 |
|
|
Sundry Debtors |
527.287
|
570.925 |
539.558 |
|
|
Cash & Bank Balances |
275.898
|
582.142 |
147.292 |
|
|
Other Current Assets |
0.000
|
0.000 |
222.926 |
|
|
Loans & Advances |
212.431
|
652.484 |
361.779 |
|
Total
Current Assets |
1231.727
|
1910.463 |
1395.985 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Current Liabilities |
687.540
|
905.123 |
488.265 |
|
|
Provisions |
0.000
|
2.925 |
0.000 |
|
|
Investor Education and Protection Fund |
0.102
|
0.046 |
0.000 |
|
Total
Current Liabilities |
687.642
|
908.094 |
488.265 |
|
|
Net Current Assets |
544.085
|
1002.369 |
907.720 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
2181.065 |
2059.608 |
1465.945 |
|
PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
31.03.2009 |
31.03.2008 |
31.03.2007 |
|
|
Sales Turnover |
3135.843 |
2892.288 |
2292.061 |
|
|
Other Income |
236.293 |
235.792 |
130.311 |
|
|
Total Income |
3372.136 |
3128.080 |
2422.372 |
|
|
|
|
|
|
|
|
Profit/(Loss) Before Tax |
90.077 |
508.885 |
118.814 |
|
|
Provision for Taxation |
64.539 |
204.715 |
40.308 |
|
|
Profit/(Loss) After Tax |
25.538 |
304.170 |
78.506 |
|
|
|
|
|
|
|
|
Expenditures : |
|
|
|
|
|
|
Raw Material Consumed |
1484.608 |
1188.324 |
1078.942 |
|
|
Salaries, Wages, Bonus, etc. |
634.092 |
497.008 |
327.796 |
|
|
Managerial Remuneration |
3.495 |
27.080 |
10.497 |
|
|
Payment to Auditors |
1.161 |
1.002 |
0.351 |
|
|
Interest |
114.972 |
80.379 |
51.828 |
|
|
Insurance Expenses |
4.617 |
5.213 |
4.357 |
|
|
Power & Fuel |
37.647 |
29.713 |
24.406 |
|
|
Depreciation & Amortization |
211.612 |
111.365 |
99.947 |
|
|
Other Expenditure |
789.855 |
679.111 |
705.434 |
|
Total Expenditure |
3282.059 |
2619.195 |
2303.558 |
|
|
|
|
|
|
|
|
Earnings Per Share (Rs.) |
0.01 |
---- |
---- |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2009 |
31.03.2008 |
31.03.2007 |
|
PAT / Total Income |
(%) |
0.76
|
9.72 |
3.24 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
2.87
|
17.59 |
5.18 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
3.21
|
18.48 |
6.23 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.08
|
0.47 |
0.15 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.57
|
1.73 |
1.44 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.79
|
2.10 |
2.86 |
LOCAL AGENCY FURTHER INFORMATION
The genesis of the Subject Group of Publications dates back to 1932 when it was founded as Subject, a local Marathi daily in Pune, where it is still headquartered. However, in the 75 years of its existence its growth has been both rapid and remarkable. From a single edition vernacular newspaper to the multi-faceted Subject Media Group, it has now become a multilingual Media House. The saga of the Subject Group is without parallel in the media industry.
Subject is published in nine editions and reaches the
length and breadth of
The Subject Group also publishes two full-fledged English
newspapers, viz. Subject Times from Pune and Gomantak Times from
Group publishes INDIA & GLOBAL AFFAIRS (IGA), a quarterly magazine in association with Asia Pacific Communication Associates (APCA). IGA reaches out to leaders of Government, business and the media in key nations throughout the world and offers them primarily Indian perspectives on issues of global interest and concern. These include foreign policy and strategic matters, economics and business, environment and energy, technology and culture, education and public health. The magazine will seek to highlight how developments in any one of these areas impact on developments in other areas.
Furthermore, the Subject Group brings out Agrowon, a 16-page
tabloid newspaper on agriculture, published in six editions, which is the only
one of its kind in
What’s more, the Subject Group brings out a weekly yellow
pages pullout, which is the first such initiative by any newspaper group in
The Events Division of the Subject Group organizes special events with mass appeal like exhibitions, conferences and seminars. And, to top it all, the Subject Group of Publications works for social causes through its instruments like the Subject Relief Fund, which is aimed at providing immediate aid to victims of natural disasters, and Madhurangan, which is an exclusive forum for women, to name just two.
The Subject Group is committed to the adoption of the latest technology like Smartflow and SAP, which has enabled it maintain its high levels of quality. Similarly, incorporation of the Six Sigma philosophy of management clearly indicates Subject’s desire to keep up with the times. Evolving into a world class multinational that combines eastern thought with western technology is the Subject Group’s goal, which inspires its core team comprising more than 2,000 self-motivated individuals… As the poet Robert Frost famously wrote, “The woods are lovely dark and deep; but I have promises to keep; and miles to go before I sleep…”
FORM 8
|
This form is for |
Modification of
charge |
|
Charge
identification number of the modified |
90084694 |
|
Corporate identity
number of the company |
U22121PN1948PLC006177 |
|
Name of the
company |
SAKAL PAPERS
LIMITED |
|
Address of the
registered office or of the principal place of business in |
595, Budhwar
Peth, Pune – 411 002, |
|
Type of charge |
Book Debts Movable Property
(Not being pledge) Immovable
Property Any interest in
immovable Property |
|
Particular of
charge holder |
Bank of Maharashtra- Lead Bank, Industrial Finance Branch,
‘Yashomangal’, |
|
Nature of
description of the instrument creating or modifying the charge |
Both constitute a
single charge. |
|
Date of
instrument Creating the charge |
21.03.2009 |
|
Amount secured by
the charge |
Rs. 2239.561 |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest:
As per first schedule attached. Terms of
Repayment: Working Capital- Cash Credit – On Demand Term Loan-
Unaltered Margin: As per
first schedule attached. Extent and
Operation of the charge: Working Capital-
Rs. 538.100 Millions Term Loan- Rs.
1701.461 Millions Total- Rs.
2239.561 Millions |
|
Short particulars
of the property charged |
First pari passu
charge of hypothecation of whole current assets Second pari passu
charge for securing working capital facilities on movable plant and
machineries and other movable assets, situated or located at company’s
offices, factories, godowns at Pune, Mumbai, Kolhapur, aurangabad, Nagpur,
Solapur, Jalgaon, Nashik or anywhere else. |
|
Date of latest
modification prior to the present modification |
05.02.2008 |
FIXED ASSETS:
- Land
- Buildings
- Plant and Machinery
- Furniture and Fixtures
- Motors Cars and Vehicles
- Office Equipments
- Intangible Assets
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.45.58 |
|
|
1 |
Rs.67.05 |
|
Euro |
1 |
Rs.57.81 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
9 |
|
PAID-UP CAPITAL |
1~10 |
9 |
|
OPERATING SCALE |
1~10 |
9 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
8 |
|
--PROFITABILIRY |
1~10 |
8 |
|
--LIQUIDITY |
1~10 |
8 |
|
--LEVERAGE |
1~10 |
8 |
|
--RESERVES |
1~10 |
9 |
|
--CREDIT LINES |
1~10 |
8 |
|
--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 |
|
TOTAL |
|
76 |
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 |
|
NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
|
This report is issued at your request without any risk
and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its
officials.