MIRA
INFORM REPORT
|
Report Date : |
06.08.2011 |
IDENTIFICATION DETAILS
|
Name : |
DHARMANANDAN DIAMONDS PRIVATE LIMITED |
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Registered
Office : |
1014-16, Prasad Chambers, Mumbai-400004, Maharashtra |
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Country : |
India |
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Financials (as
on) : |
31.03.2010 |
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Date of
Incorporation : |
31.08.2007 |
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Com. Reg. No.: |
11-173674 |
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Capital
Investment / Paid-up Capital : |
Rs. 60.000 millions. |
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CIN No.: [Company Identification
No.] |
U36912MH2007PTC173674 |
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TAN No.: [Tax Deduction & Collection
Account No.] |
MUMD15331B MUMD12222A |
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PAN No.: [Permanent Account No.] |
AACCD6676J AACCD0906H |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer, Importer and Exporter of precious diamonds, round
diamond, hearts diamond, gold jewelry, gold pendants, gold rings, platinum
jewelry, diamond platinum rings, silver jewelry, silver bracelets and silver
pendants. |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (46) |
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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 7600000 |
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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 a successor of Dharmanandan Diamonds, a Partnership concern
started in the year 1993. It is an established company having satisfactory track. Trade relation
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
|
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 |
LOCATIONS
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Registered Office : |
1014-16, Prasad Chambers, Mumbai-400004, Maharashtra, India |
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Tel. No.: |
91-22-40041111 / 2/ 3/ 4/ 5 |
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Fax No.: |
91-22-66355533 |
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E-Mail : |
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Website : |
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Factory 1 : |
Behind Patel Faliya, Gotalawadi, Katargam Road, Surat -
395 004, |
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Tel. No.: |
91-261-2533777 |
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Fax No.: |
91-261-2533775 |
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Factory 2 : |
Dharm Exim (Exporters of Diamonds and Diamond Jewellery),
Plot no -152, Surat Special Economic Zone, Sachin - Surat - 394 230, Gujarat,
India. |
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Tel. No.: |
91-261-2398511 / 8233 |
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Fax No.: |
91-261-2398088 |
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E-Mail : |
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Affilated Office : |
Dharam Creations (HK) Limited, Unit No.7, 1/F, Chevalier House,
45-51 Chatham Road South, T.S.T. Kowloon, Hongkong Tel
No.: 91-852-27231466 / 60-63 Fax
No.: 91-852-27226214 Email: info@dharamhk.com Dharm Diam B.V.B.A. 30, Hovenierstraat, Suite No.831, 2018,
Antwerp Belgium. Tel
No.: 91-323-2341444 Fax
No.: 91-323-2341445 Email: sandip@dharamhk.com Dharm International LLC. Suite 405, 15 West, 47th Street,
NY 10036, New York - USA. Tel
No.: 91-212-3987777 / 7778 Fax
No.: 91-212-3987775 Email: usa@dharamhk.com |
DIRECTORS
AS ON 30.09.2010
|
Name : |
Mr. Laljibhai Tulshibhai Patel |
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Designation : |
Chairman cum Managing Director |
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Address : |
52, Narayanmuni Nagar, Ved Road, Surat-395004, Gujarat, India |
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Date of Birth/Age : |
28.11.1955 |
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Date of Appointment : |
31.08.2007 |
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DIN No : |
01539972 |
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Name : |
Mr. Tulsibhai Keshavbhai Patel |
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Designation : |
Director |
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Address : |
57, Narayanmuni Nagar, Ved Road, Surat-395004, Gujarat, India |
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Date of Birth/Age : |
11.07.1950 |
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Date of Appointment : |
31.08.2007 |
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DIN No : |
01540000 |
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Name : |
Mr. Dayalbhai Keshavbhai Patel |
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Designation : |
Director |
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Address : |
56, Narayanmuni Nagar, Ved Road, Surat-395004, Gujarat, India |
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Date of Birth/Age : |
11.03.1954 |
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Date of Appointment : |
31.08.2007 |
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DIN No : |
01540092 |
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Name : |
Mr. Prakashbhai Tulsibhai Goti |
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Designation : |
Director |
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Address : |
12/A, Ramesh Niwas, 51-C, Bhulabhai Desai Road, Mumbai-400026,
Maharashtra, India |
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Date of Birth/Age : |
28.09.1973 |
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Date of Appointment : |
31.08.2007 |
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DIN No : |
01540039 |
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Name : |
Mr. Sanjaykumar Jerambhai Virani |
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Designation : |
Director |
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Address : |
E-1, Rock View Apartment, Raghavji Road, Mumbai-400036, Maharashtra,
India |
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Date of Birth/Age : |
20.02.1976 |
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Date of Appointment : |
31.08.2007 |
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DIN No : |
01660345 |
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Name : |
Mr. Hiteshkumar Laljibhai Patel |
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Designation : |
Director |
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Address : |
52, Narayanmuni Nagar, Ved Road, Surat-395004, Gujarat, India |
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Date of Birth/Age : |
31.05.1979 |
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Date of Appointment : |
31.08.2007 |
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DIN No : |
01660527 |
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Name : |
Mr. Piyushkumar Laljibhai Patel |
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Designation : |
Director |
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Address : |
51-52, Narayanmuni Nagar, Ved Road, Surat-395004, Gujarat, India |
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Date of Birth/Age : |
04.05.1982 |
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Date of Appointment : |
31.08.2007 |
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DIN No : |
00858190 |
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Name : |
Mr. Shailesh Dayalbhai Goti |
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Designation : |
Director |
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Address : |
56, Narayanmuni Nagar, Ved Road, Surat-395004, Gujarat, India |
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Date of Birth/Age : |
09.10.1984 |
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Date of Appointment : |
31.08.2007 |
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DIN No : |
00858206 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2010
|
Names of Shareholders |
No. of Shares |
|
Laljibhai Tulshibhai Patel |
1000000 |
|
Tulsibhai Keshavbhai Patel |
500000 |
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Dayalbhai Keshavbhai Patel |
500000 |
|
Prakashbhai Tulsibhai Goti |
500000 |
|
Sanjaykumar Jerambhai Virani |
500000 |
|
Hiteshkumar Laljibhai Patel |
833500 |
|
Piyushkumar Laljibhai Patel |
778000 |
|
Shailesh Dayalbhai Goti |
388500 |
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Total |
5000000 |
AS ON 30.09.2010
|
Names of Preference Shareholders |
No. of Shares |
|
Dharmanandan Industries Limited, India |
1000000 |
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Total |
1000000 |
AS ON 30.09.2010
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer, Importer and Exporter of precious diamonds, round
diamond, hearts diamond, gold jewelry, gold pendants, gold rings, platinum jewelry,
diamond platinum rings, silver jewelry, silver bracelets and silver pendants. |
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Products : |
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GENERAL INFORMATION
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Bankers : |
·
State Bank of India, Diamond Branch, 1st
Floor, Majestic Shopping Centre, Girgaon, Opera House, Mumbai-400004,
Maharashtra, India |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Rajiv N Shah and Associates Chartered Accountant |
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Address : |
A-001, shreenath Darshan, Off Factory Lane, Borivali (West), Mumbai-400092,
Maharashtra, India |
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Wholly Owned Subsidiaries : |
·
DDL Investment Limited |
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Step in Subsidiary : |
·
Dharam Creation HK Limited |
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Other Related Party : |
·
Divine Equity Research Private Limited ·
Gunjan Exports ·
Dharm Exim ·
Karpasa Exports Private Limited ·
Dharmanandan Industries Limited |
CAPITAL STRUCTURE
AS ON 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
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|
|
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|
9000000 |
Equity Shares |
Rs.10/- each |
Rs. 90.000 Millions |
|
1000000 |
Preference Shares |
Rs. 10/- each |
Rs. 10.000 Millions |
|
|
Total |
|
Rs. 100.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
|
|
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|
5000000 |
Equity Shares |
Rs.10/- each |
Rs. 50.000
Millions |
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Issued, Subscribed & Paid-up Preference Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
1000000 |
Equity Shares |
Rs.10/- each |
Rs. 10.000 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 |
|
|
SHAREHOLDERS FUNDS |
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|
|
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1] Share Capital |
60.000 |
60.000 |
50.000 |
|
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2] Share Application Money |
530.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
1330.212 |
971.842 |
782.402 |
|
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
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NETWORTH |
1920.212 |
1031.842 |
832.402 |
|
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LOAN FUNDS |
|
|
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1] Secured Loans |
3099.693 |
2927.736 |
1966.125 |
|
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2] Unsecured Loans |
833.398 |
1162.211 |
973.384 |
|
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TOTAL BORROWING |
3933.091 |
4089.947 |
2939.509 |
|
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DEFERRED TAX LIABILITIES |
111.374 |
101.203 |
38.256 |
|
|
|
|
|
|
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TOTAL |
5964.677 |
5222.992 |
3810.167 |
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|
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|
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APPLICATION OF FUNDS |
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|
|
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|
|
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FIXED ASSETS [Net Block] |
1413.692 |
1297.380 |
1252.114 |
|
|
Capital work-in-progress |
66.268 |
42.500 |
0.000 |
|
|
|
|
|
|
|
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INVESTMENT |
0.720 |
0.720 |
2.139 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
1985.708
|
1174.274 |
2213.906 |
|
|
Sundry Debtors |
4421.286
|
3592.085 |
2294.369 |
|
|
Cash & Bank Balances |
137.707
|
74.984 |
61.177 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
146.031
|
70.471 |
108.488 |
|
Total
Current Assets |
6690.732
|
4911.814 |
4677.940 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
96.051
|
87.995 |
153.873 |
|
|
Other Current Liabilities |
1957.142
|
824.426 |
1788.139 |
|
|
Provisions |
154.109
|
117.649 |
180.743 |
|
Total
Current Liabilities |
2207.302
|
1030.070 |
2122.755 |
|
|
Net Current Assets |
4483.430
|
3881.744 |
2555.185 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.567 |
0.648 |
0.729 |
|
|
|
|
|
|
|
|
TOTAL |
5964.677 |
5222.992 |
3810.167 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
|
3910.390 |
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL (A) |
12679.050 |
8700.260 |
3910.390 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
3679.100 |
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL
(B) |
12095.050 |
8355.550 |
3679.100 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
584.000 |
344.710 |
231.290 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
141.630 |
169.040 |
84.610 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
442.370 |
175.670 |
146.680 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
52.780 |
48.470 |
21.580 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
389.590 |
127.200 |
125.100 |
|
|
|
|
|
|
|
|
|
Less |
TAX (I) |
31.220 |
77.760 |
42.360 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-I) (J) |
358.370 |
49.440 |
82.740 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
131.840 |
82.400 |
NA |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
490.210 |
131.840 |
NA |
|
|
|
|
|
|
|
|
|
|
EXPORT VALUE |
11330.050 |
8179.360 |
NA |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Diamonds |
11245.430 |
6126.720 |
NA |
|
|
TOTAL IMPORTS |
11245.430 |
6126.720 |
NA |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
59.73 |
-- |
-- |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
2.83
|
0.57 |
2.12 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
4.81
|
2.05 |
2.11 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.20
|
0.12 |
0.15 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.15
|
1.00 |
2.55 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
3.03
|
4.77 |
2.20 |
LOCAL AGENCY FURTHER INFORMATION
Note: Registered Office of
the company has been shifted from G-14, Prasad Chambers, Opera House, Mumbai –
400 004, Maharashtra, India to the present address w.e.f. 01.12.2008.
TURNOVER AND
PROFITS
During the
financial year ended March 31, 2010 the Sales and other income of the company
increased from Rs. 8,700.26 Millions to Rs. 12,679.05 Millions. The Net Profit
before tax studded Rs. 389.59 Millions as against Rs. 127.20 Millions in the
previous year.
FORM 8
|
Corporate
identity number of the company |
U36912MH2007PTC173674 |
|
Name of the
company |
DHARMANANDAN DIAMONDS PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
1014-16, Prasad Chambers, Mumbai-400004, Maharashtra, India |
|
This form is for |
Creation of charge |
|
Type of charge |
Book debts Movable property (not being pledge) |
|
Particular of
charge holder |
State Bank of India, Diamond Branch, 1st Floor, Majestic Shopping
Centre, Girgaon, Opera House, Mumbai-400004, Maharashtra, India |
|
Nature of
instrument creating charge |
Agreement of hypothecation of goods and assets |
|
Date of
instrument Creating the charge |
12.07.2011 |
|
Amount secured by
the charge |
Rs. 800.000 millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of interest As Per Sanction Terms Terms of
repayment As Per Sanction Terms Margin As Per Sanction Terms Extent and
operation of the charge As Per Sanction Terms |
|
Short particulars
of the property charged (Including location of the property) |
All present and future goods
book-debts and all other movable of the borrower including documents of title
to the goods, outstanding moneys, receivables including receivables by way of
cash assistance and/or cash incentives under the Cash Incentive Scheme or any
other Scheme claims including claims by way of refund of customs/excise
duties under the Duty Drawback Credit Scheme or any other Scheme, bills,
invoices documents, contracts, insurance policies, guarantees, engagements,
securities, investments and rights and the present and future machinery. |
FIXED ASSETS
-
Plant and Machinery
-
Computer Systems
-
Furniture and Fixtures
-
Vehicles
-
Office Premises
-
Land
-
Factory Building
WEB SITE DETAILS
PROFILE
India depicts rich cultural heritage for precious metals and
stone. Since long Indian history has talked about, precious stones like
Kohinoor with its rich treasures for the Jewellery.
Subject comes with a vision to disseminate the Indian craftsmanship across the
globe with an aim of luxury experience of life. It is their pride to state that
they have been doing business in this field for last 25 years and have
witnessed great success since we started operating.
Subject has a wide range of products our main product is round diamonds and
deals in customized requirements of fancy shapes like Princess, Marques, Pears,
Baguettes etc with various sizes, colors and clarities.
In order to optimize their product offerings and give better value to their
customers, they are physically present at major diamond and jewellery hubs of
the world such as Belgium, Hong Kong, USA and Mumbai. Their marketing
affiliates enable them to identify local demand and consistent supply to their
customers.
Prompt Delivery is a part of their design. They understand the value of timely
shipment to their customers, which ensures them to meet their plans in line
with consumer demand.
NEWS
I-NNOVATIVE CUSTOMER INTERFACE FROM DHARMANANDAN GROUP AT HK SHOW
In an innovative
step, that is sure to make it stand out at the September Hong Kong Show, the
Dharmanandan group will be offering its customers the chance to search and
select diamonds from its inventory using I-Pads.
A visitor to the company stall can first
search for their requirements using the i-Pads, and having selected the goods
can then approach a company executive to finalize the deal. With over 35 sales
executives and 20 business cubicles, Dharmanandan is confident that the
innovation will help customers save valuable time and help everyone do more
business. All the I-pads will reflect actual real time inventory.
Explaining the company’s approach, Piyush
Patel, CEO says, “Asia has said goodbye to the recession, and so this show
which has always been an important and exciting one for us, will be extra
special. Our aim is to ensure that a customer’s needs are converted into actual
purchases.”
He adds that the group has been known for its
new innovative ideas either in terms of services or product lines or
communications, and the introduction of modern, advanced technology at the
stall will be another clear differentiator this year.
Dharmanandan Diamonds Private Limited, India
(a DTC Sightholder Company) is well known as the world’s largest manufacturer
of diamonds from 0.20 cts to 2.00 cts, both loose polished diamonds &
several thousands of GIA certified goods.
Says Patel, “Our theme at this point is
‘Shining Star’; and we would like to gratify our loyal customers all- across
the globe by saying ‘you make us shine’.”
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. 44.80 |
|
|
1 |
Rs.72.85 |
|
Euro |
1 |
Rs.63.11 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
46 |
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.