MIRA
INFORM REPORT
|
Report Date : |
27.08.2011 |
IDENTIFICATION DETAILS
|
Name : |
SIDDHI VINAYAK LOGISTIC LIMITED |
|
|
|
|
Formerly Known
As : |
SIDDHI VINAYAK LOGISTIC PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Plot No.14/15, Bhatpore, G.I.D.C., Opposite O.N.G.C., Gate No.2,
Hazira, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2010 |
|
|
|
|
Date of
Incorporation : |
22.07.2002 |
|
|
|
|
Com. Reg. No.: |
04-040982 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.128.318
millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U63090GJ2002PLC040982 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
SRTS06908G |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAHCS4576R |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Service Provider of Transporters. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 1991000 |
|
|
|
|
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. 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
|
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 : |
Plot No.14/15, Bhatpore, G.I.D.C., Opposite O.N.G.C., Gate No.2,
Hazira, |
|
Tel. No.: |
91-261-2840625/ 934 |
|
Fax No.: |
91-261-2841351 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Corporate/ Branch Office : |
A-407/8/9/10, |
|
Tel. No.: |
91-22-66708888/ 65505888 |
|
Fax No.: |
91-22-66708888 |
|
E-Mail : |
|
|
|
|
|
Branch Office : |
Also located at: v Agucha v Ahmedabad v
v
v
Bharuch v
Bhilwara v
v
Chittorgarh v
Chennai v
Rajsamand v
Dwarka v
v
Gandhidham v
Haridwar v
v
v
Jaipur v
v
v
v
v
Mohali v
v
v
Navi Mumbai v
Noida v
Sirohi v
Pithmpur-Dhar v
Pune v
Chinchwad v
v
Morabi v
Amerli – Rajula v
Uddhamsingh Nagar v Vapi |
DIRECTORS
As on 30.09.2010
|
Name : |
Laxmidevi Rajkumar Baid |
|
Designation : |
Managing Director |
|
Address : |
2/339, Shani Kunj, Mota Moh, Rustampura, |
|
Date of Birth/Age : |
04.03.1981 |
|
Date of Appointment : |
01.08.2009 |
|
DIN No.: |
00420302 |
|
|
|
|
Name : |
Mr. Rajkumar Roopchand Baid |
|
Designation : |
Director |
|
Address : |
1115F, |
|
Date of Birth/Age : |
28.01.1977 |
|
Date of Appointment : |
22.07.2002 |
|
DIN No.: |
00445897 |
|
|
|
|
Name : |
Mr. Deepakkumar Roopchand Baid |
|
Designation : |
Director |
|
Address : |
101, Megh Malhar Apartment, Bhatar Char Rasta, |
|
Date of Birth/Age : |
27.10.1983 |
|
Date of Appointment : |
23.02.2010 |
|
DIN No.: |
00458186 |
|
|
|
|
Name : |
Mr. Ravi Kamal Singh Kothari |
|
Designation : |
Director |
|
Address : |
242/18, |
|
Date of Birth/Age : |
15.12.1981 |
|
Date of Appointment : |
26.06.2006 |
|
DIN No.: |
00409783 |
KEY EXECUTIVES
|
Name : |
Ms. Reema Khurana |
|
Designation : |
Secretary |
|
Address : |
C/802, Nav Mangalam Complex, Near Agrasen Bhavan, |
|
Date of Birth/Age : |
18.11.1986 |
|
Date of Appointment : |
01.09.2009 |
|
PAN No.: |
AYVPK6838K |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2010
|
Names of Shareholders |
|
No. of Shares |
|
Rajkumar Roopchand Baid |
|
368988 |
|
Laxmidevi Rajkumar Baid |
|
335000 |
|
Ankita Jyotindra Bhatt |
|
236002 |
|
Deepakkumar Roopchand Baid |
|
286502 |
|
|
|
22002 |
|
Nikunj Jyotindra Bhatt |
|
10002 |
|
Saloni Sandeep Jain |
|
110002 |
|
Rakhi Ravi Chindalia |
|
2 |
|
Badri Prasad Charan |
|
110000 |
|
Bhartiben Bhatt |
|
20000 |
|
Manju Devi Baid |
|
210500 |
|
Roopchand Baid |
|
2314100 |
|
Jyotindra Bhatt |
|
5000 |
|
Kamal Kumor Baid |
|
250000 |
|
Suraj Devi Baid |
|
105000 |
|
Sujan Mal Baid |
|
140000 |
|
Kanak Devi Baid |
|
40000 |
|
Mid Way Logistics Private Limited, |
|
522000 |
|
Rajkamal Logistics Private Limited, |
|
2870000 |
|
Sandeep Jain |
|
48700 |
|
Sterling Merchant Private Limited, |
|
1408000 |
|
Yashkirti Tours and Travels Private Limited, |
|
2628000 |
|
Preksha Logistic Private Limited, |
|
792000 |
|
Total |
|
12831800 |
As on 10.03.2011
|
Names of Allottees |
|
No. of Shares |
|
Mid Way Logistics Private Limited, |
|
650 |
|
Yashkirti Tours and Travels Private Limited, |
|
13300 |
|
Sterling Merchant Private Limited, |
|
265300 |
|
Rajkamal Logistics Private Limited, |
|
33300 |
|
Total |
|
312550 |
As on 05.01.2011
|
Names of Allottees |
|
No. of Shares |
|
Mid Way Logistics Private Limited, |
|
150 |
|
Preksha Logistic Private Limited, |
|
107000 |
|
Rajkumar Baid |
|
150 |
|
Shraddha Logistic Private Limited, |
|
173500 |
|
Sterling Merchant Private Limited, |
|
58500 |
|
Rajkamal Logistics Private Limited, |
|
1150 |
|
Total |
|
340450 |
As on 24.12.2010
|
Names of Allottees |
|
No. of Shares |
|
Mid Way Logistics Private Limited, |
|
403500 |
|
Preksha Logistic Private Limited, |
|
247000 |
|
Rajkumar Baid |
|
2500 |
|
Shraddha Logistic Private Limited, |
|
70500 |
|
Sterling Merchant Private Limited, |
|
499400 |
|
Yashkirti Tours and Travels Private Limited, |
|
52500 |
|
Rajkamal Logistics Private Limited, |
|
105500 |
|
Total |
|
1380900 |
As on 30.09.2010
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Bodies
corporate |
|
64.06 |
|
Directors
or relatives of directors |
|
34.89 |
|
Other
top fifty shareholders |
|
1.05 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Service Provider of Transporters. |
|
|
|
|
Services : |
Logistics |
GENERAL INFORMATION
|
Suppliers : |
v
Rakesh Ayush and Company v
Bank of v
ANG Auto Limited v
Bank of v
R.R. Fuels v
Rajasthan Roadways Petrol |
|||||||||||||||||||||
|
|
|
|||||||||||||||||||||
|
Customers : |
v
AIS v
Amul v
Bajaj v
Bhushan Power and Steel v
Binani v
Escorts ESSAR v
Force v
Galaxy v
v
HMT v
HP v
Hyva India Private Limited v
The India Cements Limited v
Indian Oil v
Indo Farm Tractors and Motors v
Jaypee Cement v
JK White Cement v
John Deere
v
Suzlon v
Tata Chemicals Limited v
Mercedes-Benz |
|||||||||||||||||||||
|
|
|
|||||||||||||||||||||
|
No. of Employees : |
Not Available |
|||||||||||||||||||||
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|
|
|||||||||||||||||||||
|
Bankers : |
v Bank of v Oriental Bank of
Commerce, Jash Market, v State Bank of v ICICI Bank Limited v Axis Bank v Kotak Mahindra Bank Limited v Allahabad Bank v HDFC Bank Limited v Centurion Bank Limited v Indusind Bank Limited v State Bank of Travancore v Surat National Co-Operative Bank Limited v Bank of |
|||||||||||||||||||||
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|||||||||||||||||||||
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Facilities : |
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|
|
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|
Banking
Relations : |
-- |
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|
|
|
Auditors : |
|
|
Name : |
R.K. Malpani and Associates Chartered Accountants |
|
Address : |
103-A, Shyam Anukampa, O-11, Ashok Marg, C-Scheme, Jaipur – 302 001, |
|
Tel. No.: |
91-141-2364313/ 2364513 |
|
Fax No.: |
91-141-2364413 |
|
E-Mail : |
|
|
Income-tax
PAN of auditor or auditor's firm : |
AABFR2190M |
CAPITAL STRUCTURE
After 30.09.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
20000000 |
Equity Shares |
Rs.10/- each |
Rs.200.000 millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
16375500 |
Equity Shares |
Rs.10/- each |
Rs.163.755
millions |
|
|
|
|
|
As on 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
15000000 |
Equity Shares |
Rs.10/- each |
Rs.150.000 millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
12831800 |
Equity Shares |
Rs.10/- each |
Rs.128.318
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 |
128.318 |
49.326 |
6.750 |
|
|
2] Share Application Money (Pending Allotment) |
111.356 |
94.530 |
19.767 |
|
|
3] Reserves & Surplus |
258.184 |
85.009 |
27.485 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
497.858 |
228.865 |
54.002 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
2239.507 |
803.225 |
204.778 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
0.425 |
|
|
TOTAL BORROWING |
2239.507 |
803.225 |
205.203 |
|
|
DEFERRED TAX LIABILITIES |
82.728 |
44.235 |
7.480 |
|
|
|
|
|
|
|
|
TOTAL |
2820.093 |
1076.325 |
266.685 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
2398.656 |
955.257 |
228.406 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
5.075 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.132 |
0.132 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
6.931
|
5.241 |
0.000 |
|
|
Sundry Debtors |
201.596
|
70.003 |
27.218 |
|
|
Cash & Bank Balances |
174.309
|
17.392 |
3.879 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
135.473
|
40.838 |
14.713 |
|
Total
Current Assets |
518.309
|
133.474 |
45.810 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
91.786
|
5.371 |
5.705 |
|
|
Other Current Liabilities |
3.003
|
0.250 |
5.167 |
|
|
Provisions |
2.231
|
6.935 |
1.754 |
|
Total
Current Liabilities |
97.020
|
12.556 |
12.626 |
|
|
Net Current Assets |
421.289
|
120.918 |
33.184 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.016 |
0.018 |
0.020 |
|
|
|
|
|
|
|
|
TOTAL |
2820.093 |
1076.325 |
266.685 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Freight Received |
2051.902 |
637.518 |
183.864 |
|
|
|
Other Income |
0.787 |
0.105 |
2.602 |
|
|
|
TOTAL (A) |
2052.689 |
637.623 |
186.466 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Manufacturing and Direct Expenses |
1325.244 |
401.335 |
124.454 |
|
|
|
Administrative and Other Expenses |
197.542 |
45.359 |
10.375 |
|
|
|
TOTAL (B) |
1522.786 |
446.694 |
134.829 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
529.903 |
190.929 |
51.637 |
|
|
|
|
|
|
|
|
|
Less |
INTEREST &
FINANCIAL EXPENSES (D) |
153.054 |
56.256 |
10.187 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
376.849 |
134.673 |
41.450 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
265.054 |
76.034 |
11.679 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
111.795 |
58.639 |
29.771 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
34.808 |
43.691 |
9.281 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
76.987 |
14.948 |
20.490 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
36.183 |
21.235 |
0.745 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
113.170 |
36.183 |
21.235 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
13.30 |
5.41 |
30.35 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
3.75
|
2.34 |
10.99 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
5.45
|
9.20 |
16.19 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
3.83
|
5.39 |
10.86 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.22
|
0.26 |
0.55 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
4.69
|
3.56 |
4.03 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
5.34
|
10.63 |
3.63 |
LOCAL AGENCY FURTHER INFORMATION
CAPITAL:
During the year the Authorised Capital of the Company was increased from
Rs.50.000 millions to Rs.150.000 millions and issued, subscribed and paid up
capital was increased from 49.326 millions to Rs.128.318 millions.
FORM 8:
|
Corporate
identity number of the company |
U63090GJ2002PLC040982 |
|
Name of the
company |
SIDDHI VINAYAK LOGISTIC LIMITED |
|
Address of the
registered office or of the principal place of business in |
Plot No.14/15, Bhatpore, G.I.D.C., Opposite O.N.G.C., Hazira, E-Mail: rupasvll@yahoo.co.in |
|
This form is for |
Creation of charge |
|
Type of charge |
Movable Property |
|
Particular of
charge holder |
Bank of E-Mail: athwal@bankofbaroda.com |
|
Nature of
description of the instrument creating or modifying the charge |
Instrument of Hypothecation of Vehicles |
|
Date of
instrument Creating the charge |
01.02.2011 |
|
Amount secured by
the charge |
Rs.0.458 million |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest: Base Rate + 2.50% p.a. Terms of Repayment: 60 Equal Monthly Installments of Rs.0.010 million Margin: 15% Extent and Operation of the charge: The charge would be first and exclusive charge over New Tata Indica
Vista car to be purchased out of Bank Finance. |
|
Short particulars
of the property charged |
Hypothecation of New Tata Indica Vista Car to be purchased out of Bank
Finance. |
FIXED ASSETS:
v
Vehicle Commercial
v
Air Conditioner
v
Car
v
Mobile Instrument
v
Plant and Machinery
v
Refrigerator
v
Office Equipments
v
Inventor
v
Computer
v
Xerox Machine
v
Furniture and Fixture
v
Sterbilizer
v
Wireless Radio Set
v
Land
v
Motor Bike
v
Cycle
v
Offices
v
Tube Well
v
Television
v
Vehicle Tracking System
WEBSITE DETAILS:
PROFILE:
Subject is one of the fastest growing companies in the field
of Road transportation. Subject specializes in road transportation. Subject has
got comprehensive branch network all over
Subject is built on the strong pillars of massive infrastructure, operational
expertise, strong financial base and above all the will to serve its customers
with the complete satisfaction. Subject has massive infrastructure and
operational expertise.
To become number one player in the field of road transportation in India by
2012-13 for providing corporate logistic solutions with highest number of owned
fleet size and long-term logistics contracts with leading corporates in India.
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.46.05 |
|
|
1 |
Rs.75.20 |
|
Euro |
1 |
Rs.66.47 |
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 |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--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 |
|
- |
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.