1. Summary Information
|
|
|
Country |
|
|
Company Name |
VICTORA TOOL ENGINEERS PRIVATE LIMITED |
Principal Name 1 |
Mr. Hardeep Singh Banga |
|
Status |
Satisfactory |
Principal Name 2 |
Mr. Gambhir Singh Banga |
|
|
|
Registration # |
55-147240 |
|
Street Address |
C-124 B, Greater Kailash Part -1, New Delhi-110048, |
||
|
Established Date |
08.03.2006 |
SIC Code |
-- |
|
Telephone# |
-- |
Business Style 1 |
Manufacturer |
|
Fax # |
-- |
Business Style 2 |
-- |
|
Homepage |
Product Name 1 |
Sheet Metal
Components |
|
|
# of employees |
-- |
Product Name 2 |
Tools and
Panel Checkers |
|
Paid up capital |
Rs.14,670,000/- |
Product Name 3 |
-- |
|
Shareholders |
Foreign holdings
0.99$%, Bodies corporate 23.32%, Directors or relatives of directors
75.69% |
Banking |
HDFC Bank |
|
Public Limited Corp. |
No |
Business Period |
4 Years |
|
IPO |
No |
International Ins. |
- |
|
Public |
No |
Rating |
Ba (48) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
CEO |
|
Subsidiaries |
-- |
SDL Auto Private Limited |
-- |
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2010 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
266,693,000 |
Current Liabilities |
365,539,000 |
|
Inventories |
159,320,000 |
Long-term Liabilities |
122,506,000 |
|
Fixed Assets |
322,256,000 |
Other Liabilities |
18,942,000 |
|
Deferred Assets |
000 |
Total Liabilities |
506,987,000 |
|
Invest& other Assets |
340,229,000 |
Retained Earnings |
524,761,000 |
|
|
|
Net Worth |
581,511,000 |
|
Total Assets |
1,088,498,000 |
Total Liab. & Equity |
1,088,498,000 |
|
Total Assets (Previous Year) |
807,808,000 |
|
|
|
P/L Statement as of |
31.03.2010 |
(Unit: Indian Rs.) |
|
|
Sales |
1,296,348,000 |
Net Profit |
17,514,000 |
|
Sales(Previous yr) |
1,006,190,000 |
Net Profit(Prev.yr) |
15,339,000 |
MIRA
INFORM REPORT
|
Report Date : |
27.04.2011 |
IDENTIFICATION DETAILS
|
Name : |
VICTORA TOOL ENGINEERS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
C-124 B, Greater Kailash Part -1, New Delhi-110048, |
|
|
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|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2010 |
|
|
|
|
Date of
Incorporation : |
08.03.2006 |
|
|
|
|
Com. Reg. No.: |
55-147240 |
|
|
|
|
CIN No.: [Company Identification
No.] |
U34300DL2006PTC147240 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
DELV06542E |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
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|
|
|
Line of Business
: |
Manufacturer of Sheet
Metal Components, Dies, Tools and Panel Checkers and their Tooling. |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (48) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 2300000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
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|
|
|
Litigation : |
Clear |
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|
Comments : |
Subject is an established company having satisfactory track. General
financial position of the company is good. Trade relations are fair. Business
is active. Payments are reported to be usually correct and as per
commitments. The company can be considered normal for good 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 |
LOCATIONS
|
Registered Office : |
C-124 B, Greater Kailash Part -1, New Delhi-110048, |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Unit I : |
Plot No.46, Sector-25, Faridabad-121004, |
|
Tel. No.: |
91-129-4192800 (100 lines) |
|
Fax No.: |
91-129-2230504 |
|
E-Mail : |
|
|
|
|
|
Unit II : |
Plot No. 118, 125, Sector-25, Faridabad-121004, |
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Tel. No.: |
91-129-410618 / 2235251 |
|
Fax No.: |
91-129-2235251 |
|
E-Mail : |
|
|
|
|
|
Unit III : |
Plot No.340, Gali No.1, Krishna Colony, |
|
Tel. No.: |
91-129-2225562 / 2235251 |
|
Fax No.: |
91-129-2235251 |
DIRECTORS
AS ON 30.09.2010
|
Name : |
Mr. Hardeep Singh Banga |
|
Designation : |
Director |
|
Address : |
H. No.1189, Sector-15, |
|
Date of Birth/Age : |
29.08.1964 |
|
Date of Appointment : |
08.03.2006 |
|
DIN No : |
00393643 |
|
|
|
|
Name : |
Mr. Gambhir Singh Banga |
|
Designation : |
Director |
|
Address : |
H. No.1189, Sector-15, |
|
Date of Birth/Age : |
08.02.1933 |
|
Date of Appointment : |
08.03.2006 |
|
DIN No : |
01632425 |
|
|
|
|
Name : |
Mr. Satindra Singh Banga |
|
Designation : |
Director |
|
Address : |
H. No.1189, Sector-15, |
|
Date of Birth/Age : |
11.11.1958 |
|
Date of Appointment : |
08.03.2006 |
|
DIN No : |
00393620 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2010
|
Names of Shareholders |
|
No. of Shares |
|
Gambhir Singh Banga |
|
1059418 |
|
Hardeep Kaur Banga |
|
25418 |
|
Satinder Singh Banga |
|
25418 |
|
Apsara Finetrade Private Limited, |
|
254215 |
|
Maurill Industries Limited, |
|
14462 |
|
Jalsagar Dearler Private Limited, |
|
88000 |
|
Harjinder Kaur Banga |
|
10 |
|
Sanjeet Kaur Banga |
|
10 |
|
Jitendra Kaur Banga |
|
10 |
|
Satbir Singh Banga |
|
10 |
|
Harbir Singh Banga |
|
10 |
|
Total |
|
1466981 |
AS ON 30.09.2010
|
Equity Share
Breakup |
|
Percentage of
Holding |
|
Category |
|
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
0.99 |
|
Bodies corporate |
|
23.32 |
|
Directors or relatives of directors |
|
75.69 |
|
|
Total
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Sheet
Metal Components, Dies, Tools and Panel Checkers and their Tooling. |
GENERAL INFORMATION
|
Customers : |
·
Maruti Suzuki India Limited ·
Schindler India Private Limited ·
Ericsson ·
Sona Koyo Steering Limited ·
Denso India Limited ·
Sharda Motor Industries Limited ·
Rane NSK Steering Systems Limited ·
Satyam Auto Components Limited ·
Tenneco Automotive |
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Bankers : |
·
HDFC Bank ·
Citi Bank N. A. ·
ICICI Bank ·
ING Vysya Bank ·
State Bank of |
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Facilities : |
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|
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|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Kumar Sanjay and Associates Chartered Accountant |
|
Address : |
SCF-32, Sector-16 A, Faridabad-121002, |
|
|
|
|
Subsidiaries : |
·
Victora Hospitalities Private Limited CIN No : U55101DL2007PTC163798 ·
SDL Auto Private Limited ·
Victora Auto Parts Private Limited ·
Advantech India Private Limited ·
Victora Automotive Inc. (Partnership Firm) |
CAPITAL STRUCTURE
AS ON 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
3000000 |
Equity Shares |
Rs. 10/- each |
Rs. 30.000 millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
1466981 |
Equity Shares |
Rs. 10/- each |
Rs. 14.670
millions |
|
|
Application Money |
|
Rs. 42.080 millions
|
|
|
Total |
|
Rs. 56.750 millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
14.670 |
13.702 |
11.247 |
|
|
2] Share Application Money |
42.080 |
0.000 |
27.600 |
|
|
3] Reserves & Surplus |
524.761 |
434.775 |
290.312 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
581.511 |
448.477 |
329.159 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
93.280 |
77.868 |
23.136 |
|
|
2] Unsecured Loans |
29.226 |
55.129 |
45.076 |
|
|
TOTAL BORROWING |
122.506 |
132.997 |
68.212 |
|
|
DEFERRED TAX LIABILITIES |
6.185 |
5.083 |
2.401 |
|
|
LONG TERM LIABILITIES |
4.589 |
12.361 |
9.361 |
|
|
|
|
|
|
|
|
TOTAL |
714.791 |
598.918 |
409.133 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
322.256 |
251.953 |
182.829 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
340.121 |
279.572 |
204.071 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
159.320
|
85.867 |
73.048 |
|
|
Sundry Debtors |
211.984
|
162.219 |
101.170 |
|
|
Cash & Bank Balances |
9.027
|
2.649 |
2.812 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
45.682
|
25.397 |
20.688 |
|
Total
Current Assets |
426.013
|
276.132 |
197.718 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
131.020
|
90.501 |
98.380 |
|
|
Other Current Liabilities |
234.519
|
112.581 |
72.481 |
|
|
Provisions |
8.168
|
5.808 |
4.819 |
|
Total
Current Liabilities |
373.707
|
208.890 |
175.680 |
|
|
Net Current Assets |
52.306
|
67.242 |
22.038 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.108 |
0.151 |
0.195 |
|
|
|
|
|
|
|
|
TOTAL |
714.791 |
598.918 |
409.133 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
1006.190 |
737.014 |
|
|
|
Other Income |
|
1.570 |
1.834 |
|
|
|
TOTAL (A) |
1296.348 |
1007.760 |
738.848 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
|
|
929.476 |
699.984 |
|
|
|
Increase/(Decrease) in Finished Goods |
1240.552 |
(12.818) |
(30.510) |
|
|
|
Selling and Administrative Expenses |
|
25.243 |
20.244 |
|
|
|
TOTAL (B) |
1240.552 |
941.901 |
689.718 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
55.796 |
65.859 |
49.130 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
0.000 |
18.500 |
12.113 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
55.796 |
47.359 |
37.017 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
29.012 |
23.531 |
19.299 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
26.784 |
23.828 |
17.718 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
9.270 |
8.489 |
6.412 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
17.514 |
15.339 |
11.306 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
27.667 |
20.819 |
10.803 |
|
|
|
Machinery |
21.516 |
26.950 |
13.790 |
|
|
TOTAL IMPORTS |
49.183 |
47.769 |
24.593 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
11.94 |
11.19 |
10.05 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
1.35
|
1.52 |
1.53 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
NA
|
2.37 |
2.40 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
3.58
|
4.51 |
4.65 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.05
|
0.05 |
0.05 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.86
|
0.77 |
0.75 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.14
|
1.32 |
1.12 |
LOCAL AGENCY FURTHER INFORMATION
Operation:
The company has achieve satisfactory results
during the year as compared to last financial year. Sales and profit before tax
are increased 22.30 % and 11.03 %, respectively, as compared to last financial
year.
Form 8
|
Corporate
identity number of the company |
U34300DL2006PTC147240 |
|
Name of the
company |
VICTORA
TOOL ENGINEERS PRIVATE LIMITED |
|
Address of the registered
office or of the principal place of
business in |
C-124 B, Greater Kailash Part -1, New Delhi-110048, |
|
This form is for |
Creation of charge |
|
Type of charge |
Movable property (not being pledge) |
|
Particular of
charge holder |
HDFC Bank Limited, HDFC Bank House, Senapati Bapat Marg, Lower Parel
(West), Mumbai-400013, Maharashtra, India |
|
Nature of
instrument creating charge |
Agreement
for Loan and Guarantee. (Contracts No.: 3334864) |
|
Date of instrument
Creating the charge |
01.09.2010 |
|
Amount secured by
the charge |
Rs. 1.089 millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of interest Interest
@ 11.08 % p.a. Terms of
repayment The Loan
is repayable in 35 EMIs of Rs. 0.036 million starting from 1st October, 2010
ending on 1st August, 2013. Margin As
may be stipulated by bank from time to time. Extent and
operation of the charge Company
hypothecates to and charges in favor of the Bank by way of first and
exclusive charge of the Vehicle/ equipment described in Item No. 15 as
security for the repayment/payment by the company of the loan granted or to
be granted to the company by the Bank together with all fees, interest, costs
and expenses incurred/to be incurred by the Bank and all other monies payable
or to become payable by the company to the Bank. Other The
Bank shall be absolutely entitled and have full power and authority to sell,
assign or transfer in any manner, in whole or in part, and in such manner and
on such terms as the Bank may decide, including reserving a right to the Bank
to retain its power to proceed against the company on behalf of the
purchaser, assignee or transferee, any or all outstanding dues of the
company, to any third party of the Bank's choice without reference to or
without written intimation to the company. |
|
Short particulars
of the property charged (Including location of the property) |
Hypothecation
of Equipment namely : ACE FORKLIFT MODEL AF50D (Year Of Manufacture: 2010) |
Fixed Assets:
- Land
- Building
- Plant and Machinery
- Generator
- Car
- Cycle
- Transportation
- Fork Lift
- Computer
- Scooter
- Furniture and Fixture
- Electric Fitting
- Scale
- Fan
- Fire Extingusher
- Air Compressor
- Typewriter
- Water Cooler
- Printer
- Handling Equipments
- Fax Machine
- Zerox Machine
- Air Conditioner
- Telephone Equipment
- Tools and Equipment
- Office Equipment
- Tractor
Web Side Details
Profile:
A name that has come a long way to redefine values and the
meaning of precision in the field of Sheet Metal Components, Dies,
Tools and Panel Checkers
and their Toolings. A symbol of innovative excellence and spirit of enterprise, the Company has
responded to the varied needs, wishes and wants of the industry in terms of Quality,
Cost and Delivery.
VTE is the flagship company of Rs. 200 crore
group of companies having interests is Sheet Metal Components for automobile
industry, white goods industry and housing sector. Coupled with rich domain
knowledge in design, development and engineering, VTE is equipped with world
class manufacturing facilities to fully cater to the needs of almost all types
of Sheet Metal components.
Founded in 1972 by G S
Banga, an authority in the field of Tool Engineering and
recipient of "Self-made Industrialist" Award from the President of
India for his untiring, innovative approach and business acumen and under the
dynamic leadership of S S Banga, the Company has kept pace
with changing technology from time to time thereby establishing track record of
continuous growth in turnover as well as its product range. Today, VTE occupies
a front ranking position among the leading Sheet Metal Components and Tooling
manufacturing companies.
In today's fast-paced and highly competitive business environment, we lay total
stress on:
·
In-place latest infrastructure.
·
World-class skill, with depth and
breadth of expertise
·
Best-in-class processes, quality and
delivery systems
·
Mature service offerings
·
Unwavering commitment to customer
satisfaction
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.44.59 |
|
|
1 |
Rs.73.44 |
|
Euro |
1 |
Rs.64.81 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
48 |
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.