MIRA INFORM REPORT
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Report Date : |
21.04.2011 |
IDENTIFICATION DETAILS
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Name : |
KUNDAN INDUSTRIES LIMITED |
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Registered Office : |
“Kundan House”, Harisiddhi Industrial Estate, Gorai Pada, Vasai
(East), District Thane –401208, |
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Country : |
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Financials (as on) : |
31.03.2010 |
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Date of Incorporation : |
04.09.1995 |
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Com. Reg. No.: |
11-092326 |
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CIN No.: [Company
Identification No.] |
U28900MH1995PLC092326 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
MUMK11922B / PNEK05671B |
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PAN No.: [Permanent
Account No.] |
AAACK6811G |
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Legal Form : |
A closely held public limited liability company. |
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Line of Business : |
Manufacturer and Exporter of Stainless Steel and
Fasteners. |
RATING & COMMENTS
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MIRA’s Rating : |
Ba (45) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 967000 |
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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 an established company having satisfactory track. Trade
relations are reported as fair. Business is active. Payments are reported to
be usually correct and as per commitments. The company can be considered normal 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 – April 1, 2010
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Country Name |
Previous Rating (31.12.2009) |
Current Rating (01.04.2010) |
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A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
INFORMATION PARTED BY
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Name : |
Mr. Shiv Kumar Soni |
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Designation : |
Senior Accountant |
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Contact No.: |
91-9322361888 |
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Date: |
20.04.2011 |
LOCATIONS
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Registered Office/ Factory : |
Kundan House”, Harisiddhi Industrial Estate, Gorai Pada, Vasai (East),
District Thane – 401208, |
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Tel. No.: |
91-250-2455394 / 95 / 96 / 97 / 98 |
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Mobile No.: |
91-9322361888 (Mr. Shiv Kumar) |
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Fax No.: |
91-250-2455830 |
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E-Mail : |
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Website : |
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Area : |
50000 Sq. ft. |
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Location : |
Owned |
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Corporate Office : |
Plot No.291, Kundan House, |
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Tel. No.: |
91-22-61521234-349/23400551/23400911/23414249/2455394/8 |
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Fax No.: |
91-22-23447360/28820162/61521359 |
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Location : |
Owned |
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Marketing Office : |
252, |
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Tel. No.: |
91-22-23400551 / 23414249 / 23400911 |
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Fax No.: |
91-22-28820162 / 23447360 |
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E-Mail : |
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Branch Offices : |
Located at: ·
No. 459, ·
29, · Mumbai ·
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DIRECTORS
AS ON 30.09.2010
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Name : |
Mr. Bharatbhushan Kishorilal Gupta |
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Designation : |
Director |
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Address : |
4B/25, |
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Date of Birth/Age : |
01.01.1950 |
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Date of Appointment : |
04.09.2006 |
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Din No.: |
00373046 |
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Name : |
Mr. Ripudaman Gupta |
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Designation : |
Director |
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Address : |
Flat No.14, Manali Building No 5, Evershine Nagar, Malad (West),
Mumbai - 400 064, Maharashtra, India |
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Date of Birth/Age : |
01.01.1960 |
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Date of Appointment : |
04.09.1995 |
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Din No.: |
01063163 |
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Name : |
Mr. Krishankumar Kishorilal Gupta |
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Designation : |
Director |
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Address : |
Flat No. 63, Manali Building No 5, Evershine Nagar, Mumbai - 400 064,
Maharashtra, India |
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Date of Birth/Age : |
18.08.1963 |
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Date of Appointment : |
04.09.1995 |
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Din No.: |
00373413 |
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Name : |
Mr. Mukesh Kishorilal Gupta |
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Designation : |
Director |
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Address : |
73-74, |
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Date of Birth/Age : |
11.07.1965 |
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Date of Appointment : |
04.09.1995 |
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Din No.: |
00372861 |
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Name : |
Mr. Satish Jagannath Aggrawal |
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Designation : |
Director |
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Address : |
Jagan Kutir, 233, Sher-E-Punjab Co-Operative Housing Society Limited,
Mahakali Caves Road, Andheri (East), Mumbai – 400 093, Maharashtra,
India |
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Date of Birth/Age : |
14.08.1947 |
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Date of Appointment : |
18.12.2006 |
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Din No.: |
00058725 |
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Directorship in other companies : |
Kisan Mouldings Limited
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KEY EXECUTIVES
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Name : |
Mr. Shiv Kumar Soni |
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Designation : |
Senior Accountant |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
Equity share
breakup (percentage of total equity)
AS ON 30.09.2010
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Category |
Percentage |
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Directors or relatives of directors |
96.00 |
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Other
top fifty shareholders |
4.00 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Exporter of Stainless Steel and Fasteners. |
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Products : |
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Exports : |
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Products : |
Stainless Steel and Fasteners |
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Countries : |
·
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·
· Gulf Countries ·
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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 : |
L/C, Cash and Credit (30-60-90 Days) |
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Purchasing : |
L/C, Cash and Credit (30-60-90 Days) |
GENERAL INFORMATION
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Suppliers : |
·
Bansal Wire
Industries Limited, 458-466, Gall No. 8, Shambhunath Compound, ·
Sunil
Wire Agencies, 901, Tel. No. 91-22-56661750/51 Fax. No. 91-22-256661753 |
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Customers : |
· Wholesalers · Retailers · End Users ·
Alstom Limited, 19/1, Tel. No. 91-44-22368621 Fax. No. 91-44-22367276 · Asea Brown Boveri Limited, 22A, Shah Industrial Estate, Off Veera Desai Road, Andheri (West), Mumbai - 400053, Maharashtra Tel. No. 91-22-26730852 Fax. No. 91-22-26730842 Contact Person - Mr. S. S. Potnis · Audco India Limited, Enathru, Kancheepuram - 631552, Tamilnadu Tel. No. 91-4412-264323 Fax. No. 921-4112-26492 E-mail. kpmball@audcoindia.com Contact Person - Mr. S. P. Sarathy ·
Bharat Electrical Limited, Jalhalli Post, Telfax. No. 91-80-8382668 Contact Person- Mr. A. R. Yuvarai · JBM Tools Limited, Gate No. 427, Medankar Wadi, Khed, Chakan, Dist.- Pune- 410501, Maharashtra Tel. No. 91-2135-261150/261100 Fax. No. 91-2135-261151 |
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No. of Employees : |
300 Approximately |
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Bankers : |
·
Bank of · Karnataka Bank Limited 294/A, Tel. No. 91-22-22662283/22663725 · Barclays Bank PLC Ceejay House, Shivsagar Estate, ·
State Bank of Industrial Finance Branch, World Trade Centre, Cuffe Parade, Mumbai- 400005, ·
Small Industries Development Bank of 11-13, Atlanta Building, First Floor, V.K. Shah Marg, Nariman Point, Mumbai – 400
021, · ICICI Bank Fort, Mumbai, |
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Facilities : |
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Banking
Relations : |
---- |
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Auditors : |
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Name : |
Naresh Sharma and Company Chartered Accountant |
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Address : |
42, Manali Building No 5, Evershine Nagar, Malad (West), Mumbai – 400
064, Maharashtra, India |
CAPITAL STRUCTURE
AS ON 30.09.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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10000000 |
Equity shares |
Rs.10/- each |
Rs.100.000 millions |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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4000000 |
Equity shares |
Rs.10/- each |
Rs.40.000
millions |
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FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
40.000 |
40.000 |
28.000 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
201.983 |
174.055 |
144.706 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
241.983 |
214.055 |
172.706 |
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LOAN FUNDS |
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1] Secured Loans |
548.712 |
486.044 |
547.804 |
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2] Unsecured Loans |
138.025 |
58.758 |
30.350 |
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TOTAL BORROWING |
686.737 |
544.802 |
578.154 |
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DEFERRED TAX LIABILITIES |
9.002 |
6.337 |
5.293 |
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TOTAL |
937.722 |
765.194 |
756.153 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
270.329 |
263.528 |
133.489 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
5.247 |
6.248 |
5.248 |
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DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
436.957
|
421.592
|
254.057
|
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Sundry Debtors |
277.301
|
132.124
|
207.718
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Cash & Bank Balances |
34.423
|
40.045
|
175.706
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Other Current Assets |
0.000
|
0.000
|
0.000
|
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Loans & Advances |
205.293
|
177.647
|
208.471
|
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Total
Current Assets |
953.974
|
771.408
|
845.952
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditors |
255.824
|
230.372
|
138.688
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Current Liabilities |
11.191
|
7.211
|
20.804
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Provisions |
25.000
|
38.604
|
69.340
|
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Total
Current Liabilities |
292.015
|
276.187
|
228.832
|
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Net Current Assets |
661.959
|
495.221
|
617.120
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MISCELLANEOUS EXPENSES |
0.187 |
0.197 |
0.296 |
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TOTAL |
937.722 |
765.194 |
756.153 |
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PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
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SALES |
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Sales |
894.479 |
883.039 |
935.952 |
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Other Income |
47.334 |
46.759 |
40.909 |
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TOTAL (A) |
941.813 |
929.798 |
976.861 |
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Less |
EXPENSES |
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Manufacturing Expenses |
161.955 |
125.741 |
116.921 |
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Administrative Expenses |
32.148 |
29.196 |
35.312 |
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Raw Material Consumed |
506.652 |
603.806 |
609.083 |
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Staff Expenses |
42.829 |
41.059 |
36.828 |
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Selling Expenses |
23.962 |
95.713 |
37.865 |
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Increase/(Decrease) in Finished Goods |
20.016 |
(81.097) |
3.931 |
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Other Expenditure |
3.853 |
0.342 |
0.634 |
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Preliminary Expenses |
0.098 |
0.099 |
0.000 |
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TOTAL (B) |
791.513 |
814.859 |
840.574 |
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Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
150.300 |
114.939 |
136.287 |
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Less |
FINANCIAL
EXPENSES (D) |
87.989 |
81.010 |
43.191 |
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PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
62.311 |
33.929 |
93.096 |
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Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
14.429 |
11.036 |
9.255 |
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PROFIT BEFORE
TAX (E-F) (G) |
47.882 |
22.893 |
83.841 |
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Less |
TAX (H) |
17.165 |
11.544 |
34.646 |
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PROFIT AFTER TAX
(G-H) (I) |
30.717 |
11.349 |
49.195 |
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EARNINGS IN
FOREIGN CURRENCY |
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Export Earnings |
290.453 |
377.118 |
333.149 |
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IMPORTS |
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|
|
|
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Raw Materials |
|
109.893 |
0.000 |
|
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|
Stores & Spares |
4.059 |
10.971 |
5.684 |
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|
|
|
|
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|
Earnings Per
Share (Rs.) |
7.67 |
2.83 |
17.56 |
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KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
3.26
|
1.22
|
5.04
|
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Net Profit Margin (PBT/Sales |
(%) |
5.35
|
2.59
|
8.96
|
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|
Return on Total Assets (PBT/Total Assets} |
(%) |
3.91
|
2.21
|
8.56
|
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|
Return on Investment (ROI) (PBT/Networth) |
|
0.19
|
0.11
|
0.49
|
|
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|
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|
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|
Debt Equity Ratio (Total Liability/Networth) |
|
4.08
|
3.84
|
4.67
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
3.26
|
2.79
|
3.70
|
LOCAL AGENCY FURTHER INFORMATION
SUNDRY CREDITORS
DETAILS
Rs. In Millions
|
Particulars |
31.03.2010
|
31.03.2009 |
31.03.2008 |
|
|
|
|
|
|
Sundry Creditors |
255.824
|
230.372
|
138.688
|
FINANCIAL
RESULTS :
The
Profit Before Interest, Depreciation, Extra Ordinary Items has increased from Rs. 115.380 Millions to Rs. 154.105 Millions while the net profit
increased from Rs. 11.349Millions
to Rs. 30.718 Millions.
The
company has consolidated its turnover whereby it has been possible to
strengthen the bonding of the customers. The sales during the year are Rs.
694.479Millions as compared to previous
year’s turnover of Rs. 883.038 Millions. The profits have increased account of
better product mix in sales made by the company.
FORM 8
|
Corporate
identity number of the company |
U28900MH1995PLC092326 |
|
Name of the
company |
KUNDAN INDUSTRIES
LIMITED |
|
Address of the registered
office or of the principal place of
business in |
Address : “Kundan House”, Harisiddhi Industrial Estate, Gorai Pada,
Vasai (East), District Thane –401208, Email : accounts@kundan.in |
|
This form is for |
Creation of
charge |
|
Type of charge |
Immovable
property Movable property
(not being property) |
|
Particular of
charge holder |
Small Industries Development Bank of Address : 11-13, Atlanta Building, First Floor, V.K. Shah Marg, Nariman Point, Mumbai – 400 021, Maharashtra, India Email : dinesh@sidbi.in |
|
Nature of
instrument creating charge |
Deed of hypothecation
dated 15.03.2010 and Power of Attorney for creation of Residual on Immovable
Property dated 15.03.2010. |
|
Date of
instrument Creating the charge |
15.03.20010 |
|
Amount secured by
the charge |
Rs.30.000
millions |
|
Brief of the principal
terms an conditions and extent and operation of the charge |
·
Rate
of interest : 15% p.a. with monthly rests on the principal amount of the optionally
convertible Debt (OCD) outstanding from time to time with 2% penal interest. ·
Terms
of repayment : The Borrower shall repay the assistance commencing 36 months from the
date of first disbursement as under: No. of quarterly installments : 12, amount per installment : Rs. 2.500
Millions and total amount to repay : Rs. 30.000 Millions The date of repayment shall on 10th June, 10th
September, and 10th December of each year. ·
Extent
and operation of the charge : Residual Charge. |
|
Particulars of
the property charged |
|
FORM 8
|
Corporate
identity number of the company |
U28900MH1995PLC092326 |
|
Name of the
company |
KUNDAN INDUSTRIES LIMITED |
|
Address of the
registered office or of the principal place of business in |
“Kundan House”, Harisiddhi Industrial
Estate, Gorai Pada, Vasai (East), District Thane –401208, Maharashtra, |
|
This form is for |
Creation of
charge |
|
Type of charge |
Immovable
property |
|
Particular of
charge holder |
Bank of Email: poinsu@bankofbaroda.com |
|
Nature of
instrument creating charge |
Memorandum Of
Deposit Of Title Deeds In Respect Of Advance Secured By Equitable Mortgage Of
Immovable Properties Dated 11-3-2001 |
|
Date of
instrument Creating the charge |
11.03.2011 |
|
Amount secured by
the charge |
Rs. 593.500
millions |
|
Brief of the principal
terms an conditions and extent and operation of the charge |
Rate of interest Not Applicable Terms of repayment Not Applicable Margin Not Applicable Extent and operation of the charge Equitable Mortgage
by deposit of Title Deeds in respect of Company's various immovable
Properties described in Second Schedule to the Memorandum of Deposit of Title
deeds in respect of Advance Secured by Equitable Mortgage of Immovable
Properties Dated 11-3-2011 Other All other terms
and conditions as per the Memorandum of Deposit of Title deeds in respect of
Advance Secured by Equitable Mortgage of Immovable Properties Dated 11-3-2011 |
|
Short particulars
of the property charged (Including location of the property) |
Industrial Unit
No.1,2,3,&4 admn. 312 Sq. Mtrs i.e. 3370 Sq. Ft. built up (4000 Sq. Ft.
Super Buit up) and Indl Unit No. 5,
6,7,8,9,10 & 11 on Gr. Floor admn. 545.2 Sq. mtrs in Harisiddhi Ind Est,
Industrial Unit/Gala No.2 on Ground
Floor admn. 56 Sq. Mtrs. or thereabouts in Vinayak Industrial Estate, Suervey
No. 224, Hissa No.1 and Lay out of Plot No.7 at Village Achole, Taluka Vasai,
Thane Gala No.1 admn.
Carpet area 510 Sq. Ft. in Vinayaka Industrial Estate, at Village Billapada,
Taluka Vasai, Thane on Plot No.7, bearing S. No. 49, Hissa No. 1 (old S. No.
224, H. No. 1 Achole) Industrial Unit/
Gala No. 1& 2 on the Gr. Floor admn. 153 Sq. Mtrs. 2264 Sq. Ft. (Super
Built up) or thereabouts in the Riddhi Industrial Estate bearing Survey No.
224, Hissa No. 1 & Lay out Plot No.1 All that piece and parcel of Industrial Unit No.43, admn. appx. 485 sq. ft. in Amrut Industrial Premises Co op Soc. Ltd lying and being at Bhayander Dist. Thane bearing Survey No. 143 (Part) Gala No.1 to 10
situated at Plot No.5, Survey No.49 ( Old S. No.224), Hissa No.1 alongwith
open land 1194.75 sq . mtrs in Khodiyar Industrial Estate, Village Bilal
Pada, Taluka Vasi, Dist. Thane Gala No.2, on
Ground Floor in Vigneshwar Industrial Estate, area admn.715 Sq. Ft. with
water tank on land being S. No. 224, H No. 1, Lay out Plot No.3, area admn.
1482 sq. Mtrs at Bilal Pada, Achole All that piece
and Parcel of Unit/Gala No. 6 Gr. Floor, admn. 78 Sq. Mtrs. (1100 Sq. Ft.
Super Built up) or thereabouts in Siddhi Industrial Est, S. No. 49 (224 old),
H. No.1 & Layout Plot 2 at Achole Land bearing S.
No. 49 (old S. No. 224), H No. 2 admn. 25760 Sq. Ft. at village Bilalpada,
Taluka Vasai, Dist. Thane in Harisiddhi Industrial Estate II All that piece
and Parcel of 8 (Eight) Open Land and Grounds at Palghar, Dist. Thane as
mentioned in the Second Schedule to the Memorandum of Deposit of Title Deeds
Dated 11-3-2011 |
TRADE
REFERENCES :
·
Bharat Electrical Limited –
·
Alstom Limited - Chennai
FIXED ASSETS :
·
Land
·
·
·
Plant and Machinery
·
Furniture and Fixture
·
Electrical Fittings
·
Office Equipments
·
Vehicles
·
Computers
·
Residential Flats
·
Live Stock
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 records 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.44.38 |
|
|
1 |
Rs.72.56 |
|
Euro |
1 |
Rs.63.92 |
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 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
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 |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.