MIRA
INFORM REPORT
|
Report Date : |
22.12.2011 |
IDENTIFICATION DETAILS
|
Name : |
PLASTENE INDIA LIMITED (w.e.f January 2007) |
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Formerly Known As : |
OSWAL AGLOIMPEX PRIVATE LIMITED |
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Registered Office : |
H.B. Jirawala House, 13, Nav Bharat Society, Opposite Punchsheel Bus
Stand, Usmanpura, Ahmedabad – 380 013, Gujarat |
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Country : |
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Financials (as on) : |
31.03.2010 |
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Date of Incorporation : |
16.10.1998 |
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Com. Reg. No.: |
04-034861 |
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Paid-up Capital : |
Rs. 231.484 Millions |
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CIN No.: [Company
Identification No.] |
U25209GJ1998PLC034861 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
RKTO00008B |
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PAN No.: [Permanent
Account No.] |
AAACO3087C |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business : |
Manufacturer and Exporter of Plastic Packaging Related Product. |
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No. of Employees : |
1000 (approximately) (In office + In factory) |
RATING & COMMENTS
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MIRA’s Rating : |
Ba (49) |
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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 3056000 |
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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 PARTYED BY
|
Name : |
Mr. Sunil Bhagwat |
|
Designation : |
Accounts Manager |
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Contact No.: |
91-79-27561000 |
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Report Date : |
21.12.2011 |
LOCATIONS
|
Registered Office : |
H.B. Jirawala House, 13, Nav Bharat Society, Opposite Punchsheel Bus
Stand, Usmanpura, Ahmedabad – 380 013, Gujarat, India |
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Tel. No.: |
91-79-27561000/ 27550674 / 27550764 |
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Fax No.: |
91-79-27551764 |
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E-Mail : |
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Website : |
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Area : |
1200 Sq Yard |
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Location : |
Owned |
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Factory 1 : |
Survey No. 317/ 1 Nanichirai, Kutch, Gandhidham - 370 140, |
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Location : |
Owned |
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Factory 2 : |
Plot No. 73-74,
KASEZ, Gandhidham – 370 230, |
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Factory 3 : |
Survey No.1551 and 1552/1, Village Rajpur, |
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Factory 4 : |
Plot No. 828, Ambica Industrial Estate, Village Santej, Taluka Kalol,
Distrcit Gandhinagar – 382721, |
DIRECTORS
As on 30.09.2011
|
Name : |
Mr. Champalal Gekachand Parekh |
|
Designation : |
Chairman |
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Address : |
Plot No. 131, Sector-4, Gandhidham, Kutch-370201, |
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Date of Birth/Age : |
06.10.1935 |
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Qualification : |
Graduate |
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Date of Appointment : |
08.09.2004 |
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DIN No.: |
00199884 |
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Name : |
Mr. Prakash Hiralal Parekh |
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Designation : |
Managing Director |
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Address : |
7/B, Sumati Nagar Society, Usmanpura, Ahmedabad-380013, |
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Date of Birth/Age : |
26.09.1973 |
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Qualification : |
Chemical Engineer |
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Date of Appointment : |
08.09.2004 |
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DIN No.: |
00158264 |
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Name : |
Mr. Parvesh Chander Chamanlal Suri |
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Designation : |
Director |
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Address : |
A – 3, Navroj Appartments Dafnala, Shahibaugh, Ahmedabad – 380004 |
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Date of Birth/Age : |
31.12.1942 |
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Date of Appointment : |
12.11.2007 |
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DIN No.: |
01861687 |
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Name : |
Mr. Mahesh Bhandari |
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Designation : |
Director |
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Address : |
502, Aadeshwar Appartment, Sayani Marg, Prabha Devi, Mumbai – 400025 |
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Date of Birth/Age : |
07.07.1960 |
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Date of Appointment : |
06.08.2010 |
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DIN No.: |
01115263 |
KEY EXECUTIVES
|
Name : |
Ms. Munmum Sourendra Dutta |
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Designation : |
Company Secretary |
|
Address : |
A/3, Suresha Apartment, Navarangpura, Ahmedabad – 380009, |
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Date of Birth/Age : |
25.12.1979 |
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Date of Appointment : |
07.02.2011 |
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PAN No.: |
AJPPD2291J |
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|
Name : |
Mr. Sunil Bhagwat |
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Designation : |
Accounts Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2011
|
Names of Shareholders |
|
No. of Shares |
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Kushalraj Parekh |
|
10400 |
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Mukesh Parekh |
|
57200 |
|
Deepak Parekh |
|
563200 |
|
Pritesh Parekh |
|
10400 |
|
Suman Parekh |
|
104000 |
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Champalal Parekh |
|
1022100 |
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Ratanlal Parekh |
|
68900 |
|
Ashok Parekh |
|
765700 |
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Geetadevi Parekh |
|
130000 |
|
Dhanpat Parekh |
|
742820 |
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Reshamdevi Parekh |
|
65000 |
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Champalal Parekh and Reshamdevi |
|
65000 |
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Vidhyadevi Parekh |
|
110500 |
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Manjudevi Parekh |
|
117000 |
|
Prakash Parekh |
|
3066450 |
|
YMP Machineries Private Limited Liability Company Limited (Champalal
Agri-Impex Private Limited), |
|
3960249 |
|
Oswal Wood Private Limited, |
|
526500 |
|
Oswal Lumbers Private Limited, |
|
4437732 |
|
Lalit Golecha |
|
130 |
|
Oswal Commodities Private Limited, |
|
3916588 |
As on 30.09.2011
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Foreign
holdings( Foreign institutional investor(s), Foreign companie(s) Foreign
financial institution(s), Non-resident Indian(s) or Overseas Corporate bodies
or Others |
0.10 |
|
Bodies
corporate |
50.86 |
|
Directors or
relatives of Directors |
44.99 |
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Other top fifty shareholders |
4.05 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Exporter of Plastic Packaging Related Product. |
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Products : |
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Exports : |
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Products |
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Countries : |
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Imports : |
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Products : |
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Countries : |
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Terms : |
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Selling : |
Cash and Credit |
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Purchasing : |
Cash and Credit |
PRODUCTION STATUS (As on 31.03.2010)
|
Particulars |
Unit |
Installed
Capacity |
Actual
Production |
|
Plastic Woven Fabric/ Bags/ Tarpaulin |
M.T. |
38200 |
19370 |
|
Plastic Multilayer Film/ Bags |
M.T. |
6000 |
3404 |
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Plastic Filler and Master Batch |
M.T. |
10800 |
1150 |
GENERAL INFORMATION
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Suppliers : |
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Customers : |
Wholesalers and Retailers
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No. of Employees : |
1000 (approximately) (In office + In factory) |
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Bankers : |
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Facilities : |
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Banking
Relations : |
-- |
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Financial Institute : |
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Auditors : |
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Name : |
Bhanwar Jain and Company Chartered Accountants |
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Address : |
302, Kaling Complex, Near |
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Tel. No.: |
91-79-26583107/26579367 |
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E-mail.: |
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Associates : |
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Subsidiaries : |
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CAPITAL STRUCTURE
As on 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
36000000 |
Equity Shares |
Rs.10/- each |
Rs.360.000 Millions |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
23148479 |
Equity Shares |
Rs.10/- each |
Rs.231.484
Millions |
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Note
1)
Out of the above 100000
equity shares have been issued otherwise than cash
2)
Equity shares include
20293800 shares allotted as fully paid-up bonus shares by capitalization of
share premium and profit.
As on 20.09.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
36000000 |
Equity Shares |
Rs.10/- each |
Rs.360.000 Millions |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
25248479 |
Equity Shares |
Rs.10/- each |
Rs.252.485
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 |
|
|
|
|
|
1] Share Capital |
231.484 |
223.249 |
223.250 |
|
|
2] Share Application Money |
220.150 |
70.000 |
0.000 |
|
|
3] Reserves & Surplus |
312.377 |
169.373 |
143.312 |
|
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
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NETWORTH |
764.011 |
462.622 |
366.562 |
|
|
LOAN FUNDS |
|
|
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1] Secured Loans |
772.195 |
954.521 |
602.384 |
|
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2] Unsecured Loans |
31.809 |
20.193 |
58.999 |
|
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TOTAL BORROWING |
804.004 |
974.714 |
661.383 |
|
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DEFERRED TAX LIABILITIES |
83.368 |
51.376 |
25.346 |
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TOTAL |
1651.383 |
1488.712 |
1053.291 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
883.499 |
890.203 |
546.815 |
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Capital work-in-progress |
120.010 |
22.258 |
185.823 |
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INVESTMENT |
63.401 |
31.992 |
31.305 |
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DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
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|
Inventories |
606.517
|
406.768
|
260.639
|
|
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Sundry Debtors |
455.644
|
308.627
|
191.807
|
|
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Cash & Bank Balances |
138.209
|
113.160
|
126.826
|
|
|
Other Current Assets |
0.000
|
0.000
|
0.000
|
|
|
Loans & Advances |
383.510
|
439.572
|
264.173
|
|
Total
Current Assets |
1583.882
|
1268.127
|
843.445 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
850.272 |
520.084 |
531.312 |
|
|
Current Liabilities |
134.618 |
205.265 |
9.883 |
|
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Provisions |
25.011
|
8.631
|
23.471
|
|
Total
Current Liabilities |
1009.901
|
733.980
|
564.667
|
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Net Current Assets |
573.981
|
534.146
|
278.778
|
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MISCELLANEOUS EXPENSES |
10.492 |
10.114 |
10.570 |
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TOTAL |
1651.383 |
1488.712 |
1053.291 |
|
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
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SALES |
|
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|
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Sales and Other Income |
2913.503 |
2088.485 |
1698.998 |
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TOTAL (A) |
2913.503 |
2088.485 |
1698.998 |
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Less |
EXPENSES |
|
|
|
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|
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|
Material Cost |
2326.146 |
1589.158 |
1380.897 |
|
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Employees’ Emoluments |
93.764 |
64.781 |
36.866 |
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Manufacturing Expenses |
277.107 |
236.157 |
116.844 |
|
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|
Administrative
and Selling Expenses |
60.392 |
46.154 |
35.989 |
|
|
|
Increase/(Decrease)
in Stock |
(147.007) |
(21.733) |
(78.774) |
|
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TOTAL (B) |
2610.402 |
1914.517 |
1491.822 |
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Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
303.101 |
173.968 |
227.633 |
|
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|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
119.589 |
77.779 |
90.140 |
|
|
|
|
|
|
|
|
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|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
183.512 |
96.189 |
137.493 |
|
|
|
|
|
|
|
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|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
48.238 |
31.687 |
22.078 |
|
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|
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|
|
|
|
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PROFIT BEFORE
TAX (E-F) (G) |
135.270 |
64.500 |
115.415 |
|
|
|
|
|
|
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|
Less |
TAX (I) |
54.993 |
33.889 |
39.312 |
|
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|
|
|
|
|
|
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|
PROFIT AFTER TAX
(G-I) (J) |
80.277 |
30.611 |
76.103 |
|
|
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|
|
|
|
|
|
Less |
Income Tax of
Earlier Years |
(0.961) |
4.550 |
0.104 |
|
|
|
|
|
|
|
|
|
Less |
Capitalised for
Bonus Shares |
0.000 |
0.000 |
83.823 |
|
|
|
|
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|
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|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
136.053 |
109.992 |
117.816 |
|
|
|
|
|
|
|
|
|
|
balance carried to balance sheet |
217.291 |
136.053 |
109.992
|
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
825.266 |
736.293 |
404.562 |
|
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|
|
|
|
|
|
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|
IMPORTS |
|
|
|
|
|
|
Raw Materials |
693.263 |
484.442 |
286.179 |
|
|
|
Stores & Spares |
1.087 |
-- |
-- |
|
|
|
Capital Goods |
91.625 |
-- |
-- |
|
|
|
Total |
785.975 |
484.442 |
286.179
|
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
3.58 |
1.37 |
NA |
|
|
Particulars |
|
|
31.03.2011 |
|
Sales Turnover (Approximately) |
3950.000 (Due to increase
in production and new product development) |
||
Expected Sales (2011-2012) : Rs.4500.000 Millions
The above information has been parted by Mr. Sunil Bhagwat.
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
2.75 |
1.46
|
4.43 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
8.54 |
5.08
|
8.30 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.17 |
0.13
|
0.31 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.32 |
1.58
|
3.34 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.56 |
1.72
|
1.49 |
LOCAL AGENCY FURTHER INFORMATION
details of sundry creditors
(Rs.
In Millions)
|
Particulars |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
Sundry Creditors |
|
|
|
|
- For Goods and
Expenses |
810.095 |
492.452 |
|
|
- For Capital
Expenditure |
40.177 |
27.632 |
|
|
|
850.272 |
520.084 |
531.312 |
|
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 one years |
yes |
|
12)
Profitability for last three years |
No |
|
13) Reasons for
variation <> 20% |
No |
|
14) Estimation
for coming financial year |
Yes |
|
15) Capital in
the business |
Yes |
|
16) Details of
sister concerns |
Yes |
|
17) Major
suppliers |
Yes |
|
18) Major
customers |
Yes |
|
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 |
-- |
Change of address
The situation of the registered office of the company was
changed from 317/ 1, Nani Chirai, Kutch – 370 140,
OPERATIONS:
The Company has achieved total sales turnover of Rs 2088.485 Millions
against Rs. 2913.503 Millions in the previous year, reflecting growth of 39%.
During the year under review, your company has achieved double the net profit
before tax Rs. 135.270 Millions against Rs. 65.200 Millions in the previous
year.
TRADE REFERENCES:
- Sanghi Cement Limited
- Reliance
CONTINGENT
LIABILITIES IN RESPECT OF:
Rs.
In Millions
|
|
2009-10 |
|
|
Letter of credit |
602.384 |
|
|
Bank Guarantee |
28.594 |
|
|
Claim by suppliers / customers but not acknowledge as debt |
3.960 |
|
Form 8
|
Corporate
identity number of the company |
U25209GJ1998PLC034861 |
|
Name of the
company |
PLASTENE INDIA
LIMITED |
|
Address of the
registered office or of the principal place of business in |
H.B.Jirawala
House,13,Nav Bharat society Opp.Punchsheel Bus Stand , Usmanpura Ahmedabad -
380013 E-mail : munmumcs@champalalgroup.com |
|
This form is for |
Modification of
Charge |
|
Charge
identification (ID) number of the charge to be modified |
90105465 |
|
Type of charge |
Immovable
Property |
|
Particular of
charge holder |
State Bank of India, 1st Floor, Neptune Tower Annexe, Nr.
Gandhigram Railway Station, Ahmedabad – 380 009, Gujarat, India E-mail : sbi.60327@sbi.co.in |
|
Nature of
instrument creating charge |
Memorandum of
constructive delivery of title deeds for creation of further charge for term
loans and working capital facilities where the initial charge is created by
way of mortgage by deposit of title deeds dated 26th July 2011 |
|
Date of
instrument Creating the charge |
26.07.2011 |
|
Amount secured by
the charge |
2635.000 Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest
: As per Annexure Terms of
Repayment : As per Annexure Margin : As per Annexure Extent and Operation of the charge: As per Annexure |
|
Short particulars
of the property charged |
All that piece of
parcel of immovable property situated at 314 (317/1 and 317/2) Village Nani
Chirai, Ta Bhachau, District Kutch, All that piece of
parcel of immovable property bearing 1 H. B. Jirawala House, Navbharat
Co-Operative Housing Society Limited Opposite Panchsheel Society, Usmanpura,
Ahmedabad, All that piece of
parcel of Non Agricultural land situated at 1551 and 1552/1 Paiki 2, Village
Rajpur, Taluka Kadi, District Mehsana, |
|
Date of
instrument modifying the charge |
07.03.2009 |
|
Particulars of
the present modification |
The charge on
movable properties of the company is extended from Rs.1715.000 Millions to
Rs.2635.000 Millions |
FIXED ASSETS:
- Land
- Building
- Plant and Machinery
- Electric Installation
- Furniture, Fixtures and Office 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.52.68 |
|
|
1 |
Rs.82.53 |
|
Euro |
1 |
Rs.69.13 |
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 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
49 |
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.