MIRA
INFORM REPORT
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Report Date : |
02.12.2011 |
IDENTIFICATION DETAILS
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Name : |
RMS AUTOMATION SYSTEMS LIMITED |
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Registered
Office : |
W 218, Additional Nasik Industrial Area, MIDC, Ambad, Nasik – 422010,
Maharashtra |
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Country : |
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Financials (as
on) : |
31.03.2011 |
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Date of
Incorporation : |
22.07.1994 |
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Com. Reg. No.: |
11-079785 |
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Capital
Investment / Paid-up Capital : |
Rs.39.800 Millions |
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CIN No.: [Company Identification
No.] |
U51220MH1994PLC079785 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
NSKR00717D |
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PAN No.: [Permanent Account No.] |
AABCR0904J |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Manufacturer of PFC (Power Factor Controller), Trader of Mobile Phone
and also engaged in undertaking of the Infrastructure projects. |
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No. of Employees
: |
100 (Approximately) |
RATING & COMMENTS
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MIRA’s Rating : |
Ba (47) |
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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 810000 |
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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 well 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.
INFORMATION PARTED BY
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Name : |
Mr. Sarang Kulkarni |
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Designation : |
Account Department |
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Contact No.: |
91-253-2383261 |
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Date : |
01.12.2011 |
LOCATIONS
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Registered Office/ Factory : |
W 218, Additional Nasik Industrial Area, MIDC, Ambad, Nasik – 422010, Maharashtra,
India |
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Tel. No.: |
91-253-2383261 |
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Fax No.: |
91-253-2384604 |
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E-Mail : |
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Area : |
800 Sq. mt |
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Location : |
Owned |
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Marketing and After Sales Office : |
C -138, Naraina Industrial Area, Phase – I, New Delhi, India |
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Tel. No.: |
91-11-25891072 |
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Fax No.: |
91-11-45401782 |
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E-Mail : |
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Bhubneshwar Site Office : |
N – 4/58, IRC Village, Near Government High School, Nayapalli,
Bhubneshwar -751010, Orissa, India |
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E-Mail : |
DIRECTORS
As on 26.09.2011
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Name : |
Mr. Arun Kumar Khanna |
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Designation : |
Managing Director |
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Address : |
Coral Court 9, Essel Tower, M.G. Road, Gurgaon – 122002, Haryana,
India |
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Date of Birth/Age : |
10.05.1951 |
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Date of Appointment : |
19.06.2002 |
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DIN No.: |
00041724 |
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Other Directorship :
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Name : |
Mr. Ajay Khanna |
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Designation : |
Director |
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Address : |
A – 9, Naraina Vihar, New Delhi – 110028, India |
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Date of Birth/Age : |
25.12.1956 |
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Date of Appointment : |
19.06.2002 |
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DIN No.: |
00027549 |
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Other Directorship :
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Name : |
Mr. Alok Tandon |
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Designation : |
Director |
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Address : |
LCG 04, PHB The Laburnam Apartments, Near Sushant Lok, Sector – 28,
Gurgaon – 122002, Haryana, India |
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Date of Birth/Age : |
05.03.1961 |
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Date of Appointment : |
19.06.2002 |
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DIN No.: |
00027563 |
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Other Directorship :
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Name : |
Mr. Thirumalai Narsimhan |
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Designation : |
Director |
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Address : |
A -1/334 I Floor, Janakpuri, New Delhi – 110058, India |
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Date of Birth/Age : |
23.07.1954 |
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Date of Appointment : |
19.06.2002 |
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DIN No.: |
00041112 |
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Other Directorship :
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KEY EXECUTIVES
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Name : |
Mr. Sarang Kulkarni |
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Designation : |
Account Department |
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MANAGEMENT COMMITTEE : |
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Name : |
Mr. Gautam Dey |
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Designation : |
Vice President |
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Name : |
Mr. Daulat S. Randhawa |
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Designation : |
General Manager |
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Name : |
Mr. J K Sarna |
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Designation : |
Dy. General Manager |
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Name : |
Mr. Joseph Mapra |
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Designation : |
Manager Technical |
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Name : |
Mr. Jitendra Kumar |
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Designation : |
Manager Marketing |
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Name : |
Mr. Rajendra Bora |
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Designation : |
Accounts Manager |
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Name : |
Mr. Dhananjay Singh |
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Designation : |
Deputy Manager Technical |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 26.09.2011
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Names of Shareholders |
No. of Shares |
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Prabhakar S Mogre |
4 |
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Sanjiv S Barve |
20 |
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Shyam Basic Infrastructure Projects Private Limited, India |
180062 |
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Ajay Khanna |
10 |
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Alok Tandon |
10 |
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Arun Khanna |
4419 |
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Dharmender Dhingra |
10 |
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Ravi Kapoor |
10 |
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Vimal Mehta |
10 |
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Arosa Infrastructure Private Limited, India |
70587 |
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RMS Energy Private Limited, India |
142858 |
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Total |
398000 |
Equity Share Break up (Percentage of Total Equity)
As on 26.09.2011
|
Category |
Percentage |
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Bodies corporate |
98.24 |
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Directors or relatives of Directors |
1.74 |
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Other top fifty shareholders |
0.02 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of PFC (Power Factor Controller), Trader of Mobile Phone and
also engaged in undertaking of the Infrastructure projects. |
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Products/ Services : |
·
Power Factor Controller ·
Soft Starter ·
SCADA |
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Imports : |
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Products : |
Mobile |
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Countries : |
Korea China |
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Terms : |
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Selling : |
Cash/ Credit |
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Purchasing : |
Cash/ Credit |
GENERAL INFORMATION
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Customers : |
·
Maharashtra State Electricity Distribution
Company Limited, Mumbai ·
BSES Yamuna/ Rajdhani Power Limited, Delhi ·
North Delhi Power Limited, Delhi ·
Dakshin Haryana Bijli Vitran Nigam Limited, Hisar ·
North Eastern Electricity Supply Company of
Orissa Limited (NESCO), Orissa ·
Western Electricity Supply Company of Orissa
Limited (WESCO), Orissa ·
Southern Electricity Supply Company of Orissa
Limited (South Company), Orissa ·
Larsen and Turbo Limited ·
Kirloskar ·
Gujarat State Fertilizer and Chemicals ·
Schneider Electric India Private Limited ·
State Bank of India ·
HDFC Bank ·
Food Corporation of India ·
Shyam Telecom ·
Professional Comtech Private Limited ·
Innovative Communications Private Limited ·
Reliance Infrastructure Limited ·
ZTE |
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No. of Employees : |
100 (Approximately) |
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Bankers : |
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The Saraswat Co-operative Bank Limited, 20- A,
Ring Road, Lajpat Nagar – IV, Delhi – 110024, India ·
ICICI Bank Limited |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Padam Dinesh and Company Chartered Accountants |
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Address : |
11/6 B, II ND Floor, Shanti Chambers, Pusa Road, New Delhi – 110005,
India |
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PAN.: |
AAAFP9361P |
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Holding Company : |
Shyam Basic Infrastrcuture Projects Private Limited (Transferred From
NCT of Delhi) CIN No.: U64201RJ1996PTC020005 |
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Associates : |
·
Shyam Telecom Limited ·
Arosa Infrastructure Private Limited ·
RMS Engery Private Limited |
CAPITAL STRUCTURE
As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
400000 |
Equity Shares |
Rs.100/- each |
Rs.40.000 Millions |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
|
398000 |
Equity Shares |
Rs.100/-
each |
Rs.39.800
Millions |
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Note :
Out of the above 180062 shares are held by Shyam
Basic Infrastructure Projects Private Limited and 142858 shares are held by RMS
Energy Private Limited
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
39.800 |
25.514 |
25.514 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
164.221 |
41.540 |
33.471 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
204.021 |
67.054 |
58.985 |
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LOAN FUNDS |
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1] Secured Loans |
85.426 |
25.221 |
16.095 |
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2] Unsecured Loans |
0.767 |
0.815 |
0.815 |
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TOTAL BORROWING |
86.193 |
26.036 |
16.910 |
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DEFERRED TAX LIABILITIES |
2.186 |
5.636 |
9.066 |
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|
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|
|
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TOTAL |
292.400 |
98.726 |
84.961 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
88.531 |
24.123 |
30.398 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.035 |
0.035 |
0.035 |
|
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DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
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|
|
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
9.535
|
6.813 |
3.266 |
|
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Sundry Debtors |
68.683
|
262.711 |
64.478 |
|
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Cash & Bank Balances |
173.797
|
47.098 |
14.624 |
|
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Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
138.205
|
33.821 |
23.013 |
|
Total
Current Assets |
390.220
|
350.443 |
105.381 |
|
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Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
132.357
|
260.390 |
36.654 |
|
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Other Current Liabilities |
30.792
|
2.015 |
2.314 |
|
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Provisions |
23.237
|
13.470 |
11.885 |
|
Total
Current Liabilities |
186.386
|
275.875 |
50.853 |
|
|
Net Current Assets |
203.834
|
74.568 |
54.528 |
|
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|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
292.400 |
98.726 |
84.961 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
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SALES |
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|
|
|
|
|
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Income |
1866.212 |
657.499 |
42.185 |
|
|
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Other Income |
48.681 |
45.810 |
42.171 |
|
|
|
TOTAL (A) |
1914.893 |
703.309 |
84.356 |
|
|
|
|
|
|
|
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Less |
EXPENSES |
|
|
|
|
|
|
|
Material Consumed |
1806.099 |
609.683 |
28.175 |
|
|
|
Manufacturing and Other Expenses |
67.414 |
64.812 |
37.538 |
|
|
|
Income Tax related to earlier year |
0.000 |
0.000 |
(1.438) |
|
|
|
TOTAL (B) |
1873.513 |
674.495 |
64.275 |
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Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
41.380 |
28.814 |
20.081 |
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Less |
FINANCIAL
EXPENSES (D) |
9.913 |
5.562 |
0.765 |
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PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
31.467 |
23.252 |
19.316 |
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|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
11.780 |
11.162 |
11.064 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
19.687 |
12.090 |
8.252 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
6.316 |
4.021 |
2.507 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H)
(I) |
13.371 |
8.069 |
5.745 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
41.214 |
33.145 |
27.400 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
54.585 |
41.214 |
33.145 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
52.24 |
31.63 |
22.51 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
0.69
|
1.14 |
6.81 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
1.05
|
1.84 |
19.56 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
4.11
|
3.14 |
6.07 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.09
|
0.18 |
.14 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.34
|
4.50 |
1.15 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.09
|
1.27 |
2.07 |
LOCAL AGENCY FURTHER INFORMATION
|
Check List by Info Agents |
Available in Report (Yes / No) |
|
1) Year of Establishment |
Yes |
|
2) Locality of the firm |
Yes |
|
3) Constitutions of the firm |
Yes |
|
4) Premises details |
Yes |
|
5) Type of Business |
Yes |
|
6) Line of Business |
Yes |
|
7) Promoter’s background |
-- |
|
8) No. of employees |
Yes |
|
9) Name of person contacted |
Yes |
|
10) Designation of contact person |
Yes |
|
11) Turnover of firm for last three years |
Yes |
|
12) Profitability for last three years |
No |
|
13) Reasons for variation <> 20% |
No |
|
14) Estimation for coming financial year |
No |
|
15) Capital in the business |
Yes |
|
16) Details of sister concerns |
No |
|
17) Major suppliers |
No |
|
18) Major customers |
No |
|
19) Payments terms |
Yes |
|
20) Export / Import details (if applicable) |
Yes |
|
21) Market information |
-- |
|
22) Litigations that the firm / promoter |
-- |
|
23) Banking Details |
Yes |
|
24) Banking facility details |
No |
|
25) Conduct of the banking account |
-- |
|
26) Buyer visit details |
-- |
|
27) Financials, if provided |
No |
|
28) Incorporation details, if applicable |
-- |
|
29) Last accounts filed at ROC |
-- |
|
30) Major Shareholders, if available |
-- |
DETAILS OF SUNDRY CREDITORS
(Rs.
In Millions)
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
Sundry Creditors |
|
|
|
|
- Due to MSM Enterprises |
0.000 |
0.000 |
0.000 |
|
- In Related Party |
2.897 |
0.000 |
0.000 |
|
- Others (of which Rs.105.457 Millions (USD 2494050) – due to foreign
suppliers, secured against FLC’s issued from Saraswat Bank) |
129.212 |
260.119 |
36.446 |
|
Due to Directors |
0.248 |
0.271 |
0.208 |
|
Total |
132.357 |
260.390 |
36.654 |
OVERVIEW
The electric power
industry is commonly split up into four process. These are electricity
generation such as a power station, electric power transmission, electricity
distribution and electricity retailing. In many countries, electric power
companies own the whole infrastructure from generating stations to transmission
and distribution infrastructure. For this reason, electric power is viewed as a
natural monopoly. The industry is generally hereby regulated other with price
controls and is frequently government owned and operated.
The nature and
state of market reform of the electricity market often determines whether
electric companies are able to be involved in just some of these processes
without having to own the entire infrastructure, or citizens choose which
components of infrastructure to patronize. In countries where electricity
provision is deregulated, end-users of electricity may opt for more costly
green electricity
Many households
and businesses need access to electricity, especially in developed nations, the
demand being scarcer in developing nations. Demand for electricity is derived
from the requirement for electricity in order to operate domestic appliances,
office equipment, industrial machinery and provide sufficient energy for both
domestic and commercial lighting, heating, cooking and industrial processes.
Because of this aspect of the industry, it is viewed as a public utility as
infrastructure.
All forms of
electricity generation have positive and negative aspects. Technology will
probably eventually declare the most preferred forms, but in a market economy,
the options with less overall costs generally will be chosen above other
sources. It is not clear yet which form can best meet the necessary energy
demands or which process can best solve the demand for electricity. There are
indications that renewable energy and distributed generation are becoming more
viable in economic terms. A diverse mix of generation sources reduces the risks
of electricity price spikes
There has been a
movement towards separating the monopoly parts of the industry, such as
transmission and distribution sectors from the contestable sectors of
generation and retailing across the world. This has occurred prominently since
the reform of the electricity supply industry in England and Wales in 1990. In
some countries, wholesale electricity markets operate, with generators and
retailers trading electricity in a similar manner to shares and currency.
FORM 8
|
Corporate identity number of the company |
U51220MH1994PLC079785 |
|
Name of the company |
RMS AUTOMATION SYSTEMS LIMITED |
|
Address of the registered office or of the
principal place of business in |
W 218, Addl Nasik Industrial Area, MIDC,
Ambad Nasik – 422010, Maharashtra, India Email Id : khanna.arun@gmail.com |
|
This form is for |
Creation of charge |
|
Type of charge |
Movable property (not being pledge) |
|
Particular of charge holder |
The Saraswat Co-Operative Bank Limited,
20-A, Ring Road, Lajpat Nagar-Iv, Delhi – 110024, India Email Id : sunilgca@gmail.com |
|
Nature of instrument creating charge |
Agreement of hypothecation of vehicle
dated 26.07.2011 |
|
Date of instrument Creating the charge |
26.07.2011 |
|
Amount secured by the charge |
Rs.0.425 Million |
|
Brief of the principal terms an conditions
and extent and operation of the charge |
Rate of Interest 10.50% pa with quarterly rests or at such
rate as may be prescribed in future by the bank Terms of repayment Term Loan to be repaid in 36 monthly
installments of Rs.0.014 Million Margin Margin will be @ 15.95 % Extent and operation of the charge The extent of charge will be Rs.0.425
Million on the Vehicle Hypothecated to the bank |
|
Short particulars of the property or
asset(s) charged (including complete address and location of the property) |
TOYOTA ETIOS LIVA-G CHASIS NUMBER-
MBJK3ZBT800003006-0711 |
TRADE REFERENCES
· North Delhi Power Limited
·
Larsen and Turbo Limited
Contingent Liabilities not provided for (As on 31.03.2011) :
1.
UBI: Rs.0.452 Million (For Bank Guarantee given to
Various Electricity Board/Parties)
2.
BOB: Rs.0.548 Million (For Bank Guarantee given to
Various Electricity Boards/Parties)
3.
Saraswat Bank: Rs.12.157 Millions (For Bank Guarantee given to Various Electricity
Boards/Parties)
FIXED ASSETS
·
Factory Shed/ Building
·
Furniture and Fixture
·
Land at Nasik (Leasehold)
·
Machinery on Lease (DVB)
·
Machinery on Lease (DVB)
Revalued
·
Office Equipment
·
Plant and Machinery
·
Computer
·
Computer Software
·
Tools and Instruments
·
Testing Equipments
·
Vehicles
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.51.65 |
|
|
1 |
Rs.81.06 |
|
Euro |
1 |
Rs.69.51 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
47 |
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.