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MIRA
INFORM REPORT
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Report Date : |
03.01.2011 |
IDENTIFICATION DETAILS
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Name : |
ROSSARI BIOTECH ( |
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Formerly Known as : |
ROSSARI CHEMICALS
( |
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Registered Office : |
401, Omega, |
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Country : |
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Financials (as on) : |
31.03.2010 |
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Date of Incorporation : |
31.01.1997 |
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Com. Reg. No.: |
11-105584 |
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CIN No.: [Company
Identification No.] |
U24100MH1997PTC105584 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
MUMR15313E |
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PAN No.: [Permanent
Account No.] |
AABCR2094R |
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Legal Form : |
Private Limited
Liability Company |
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Line of Business : |
Manufacturers of
Textile Chemicals. |
RATING & COMMENTS
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MIRA’s Rating : |
Ba (45) |
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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 181000 |
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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 term 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
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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 |
INFORMATION PARTED BY
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Name : |
Mr. Ravi |
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Designation : |
Executive Accounts |
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Date : |
11.05.2009 |
LOCATIONS
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Registered Office : |
401, Omega, |
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Tel. No.: |
91-22-25709200/
25709201 |
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Fax No.: |
91-22-25709210 |
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E-Mail : |
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Website : |
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Area : |
2500 Sq. ft |
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Location : |
Owned |
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Factory : |
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Factory: |
Survey No. 10,11
and Survey No. 90/01/10, Kumbharwadi, Village Nairoli, Dadranagar Haveli,
Silvasa – 396235, Union Territory, India |
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Location : |
Owned |
DIRECTORS
As on 23.09.2009
|
Name : |
Mr. Sunil
Srinivasan Chari |
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Designation : |
Director |
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Address : |
B-902, Vallncia, |
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Date of Birth/Age : |
05.12.1965 |
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Date of Appointment : |
31.01.1997 |
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Name : |
Mr. Edward
Alphanso Menezes |
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Designation : |
Director |
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Address : |
601/602, Gem
House, |
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Date of Birth/Age : |
31.10.1960 |
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Date of Appointment : |
31.01.1997 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 23.09.2009
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Names of Shareholders |
No. of Shares |
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Mr. Edward A.
Menezes |
29250 |
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Mr. Sunil S.
Chari |
36750 |
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Mrs. Usha S.
Chari |
1000 |
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Menzes Mikhait
Through F and NG Edward Menses |
2800 |
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Chari Yash
Through F and NG Sunil |
300 |
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Sunil Chari (HUF) |
1000 |
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Total |
71100 |
Equity share breakup (Percentage of total equity)
As on 23.09.2009
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Category |
Percentage |
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Directors or relatives of Directors |
98.60 |
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Other top fifty shareholders |
1.40 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturers of
Textile Chemicals. |
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Products : |
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Exports : |
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Products : |
Textile Chemicals. |
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Country : |
·
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·
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Imports : |
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Products : |
Raw
Material. |
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Country: |
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Terms : |
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Selling : |
Credit |
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Purchasing : |
Credit |
GENERAL INFORMATION
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Customers : |
Wholesalers |
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No. of Employees : |
150 (In Office –
20, In Factory – 130) (Approximately) |
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Bankers : |
·
HDFC
Bank HDFC Bank, House, Senapati Bapat Marg, Lower Parel (W) Mumbai –
400013, Maharashtra, India |
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Facilities : |
CC- Rs. 80.000 millions (Hypothecation) |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Lahoti and Lahoti Chartered
Accountants |
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Address : |
111, Exim Link, Mulund – Goregaon Link Road, Nahur (west), Mumbai –
400078, Maharashtra, India |
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Tel. No.: |
91-22-65140947 |
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Fax No.: |
91-22-25661578 |
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E-Mail : |
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Name : |
Mundare and
Mundare Chartered
Accountant |
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Address : |
Mumbai, |
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Associates/Subsidiaries : |
CIN No.: U24110MH2004PTC121848
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CAPITAL STRUCTURE
As on 23.09.2009
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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100000 |
Equity Shares |
Rs. 10/- each |
Rs. 1.000
millions |
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150000 |
Preference Shares |
Rs. 10/- each |
Rs. 1.500
millions |
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Total |
|
Rs. 2.500 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
71100 |
Equity Shares |
Rs. 10/- each |
Rs. 0.711 million |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
0.711 |
0.711 |
0.711 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
44.545 |
43.139 |
40.806 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
45.256 |
43.850 |
41.517 |
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LOAN FUNDS |
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1] Secured Loans |
0.000 |
0.000 |
0.000 |
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2] Unsecured Loans |
0.114 |
0.114 |
2.683 |
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TOTAL BORROWING |
0.114 |
0.114 |
2.683 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
45.370 |
43.964 |
44.200 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
3.527 |
4.083 |
4.755 |
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Capital Work in Progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
28.082 |
30.000 |
11.967 |
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DEFERREX TAX ASSETS |
0.173 |
0.154 |
0.127 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
0.000
|
0.000
|
0.416
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Sundry Debtors |
8.923
|
16.616
|
83.751
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Cash & Bank Balances |
4.928
|
3.277
|
0.380
|
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Other Current Assets |
0.000
|
0.000
|
0.000
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Loans & Advances |
0.761
|
1.001
|
3.000
|
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Total
Current Assets |
14.612
|
20.894
|
87.547
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
0.589
|
9.264
|
59.574
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Provisions |
0.435
|
1.903
|
0.622
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Total
Current Liabilities |
1.024
|
11.167
|
60.196
|
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Net Current Assets |
13.588
|
9.727
|
27.351
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
45.370 |
43.964 |
44.200 |
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PROFIT & LOSS
ACCOUNT
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|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
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SALES |
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Income |
|
307.755 |
267.911 |
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Other Income |
|
3.156 |
7.909 |
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TOTAL (A) |
|
310.911 |
275.820 |
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Less |
EXPENSES |
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Cost of Goods Sold |
|
304.644 |
260.988 |
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Employee Cost |
|
0.366 |
2.400 |
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Selling, Administrative, General Expenses |
|
1.482 |
2.647 |
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TOTAL (B) |
|
306.492 |
266.035 |
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Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
|
4.419 |
9.785 |
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Less |
FINANCIAL
EXPENSES (D) |
|
0.269 |
0.580 |
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PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
|
4.150 |
9.205 |
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Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
|
0.672 |
0.825 |
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PROFIT BEFORE
TAX (E-F) (G) |
|
3.478 |
8.380 |
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Less |
TAX (I) |
|
0.135 |
0.265 |
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PROFIT AFTER TAX
(G-I) (J) |
|
3.343 |
8.115 |
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Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
|
25.902 |
17.788 |
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Add |
PRIOR PERIOD
ITEMS / EXCESS / SHORT PROVISIONS |
|
(1.010) |
0.000 |
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BALANCE CARRIED
TO THE B/S |
|
28.235 |
25.903 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
1.07 |
2.94 |
-
|
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Net Profit Margin (PBT/Sales) |
(%) |
1.13 |
3.13 |
-
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|
Return on Total Assets (PBT/Total Assets} |
(%) |
19.17 |
34.66 |
-
|
|
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Return on Investment (ROI) (PBT/Networth) |
|
0.08 |
0.19 |
-
|
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Debt Equity Ratio (Total Liability/Networth) |
|
0.02 |
0.26 |
1.51
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
14.27 |
1.87 |
1.45
|
LOCAL AGENCY FURTHER INFORMATION
Trade References
- Bhawani Shah
Industries
Form 8
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Corporate
identity number of the company |
U24100MH1997PTC105584 |
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Name of the
company |
ROSSARI BIOTECH ( |
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Address of the
registered office or of the principal place of business in |
401, Omega, |
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This form is for |
Creation of
charge |
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Type of charge |
Immovable
property |
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Particular of
charge holder |
CIN No.:
L65920MH1994PLC080618 Name: HDFC Bank
Limited Address: HDFC Bank House, Senapati Bapat Marg, Lower Parel
[West] City : Mumbai Pin code : 400013 State: ISO country code:
IN E-mail ID : rbbform8@hdfcbank.com |
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Nature of
instrument creating charge |
Memorandum
recording past transactions of creation of mortgage by delivery of title
deeds. |
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Date of
instrument Creating the charge |
02.12.2009 |
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Amount secured by
the charge |
Rs. 311.057
millions |
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Brief of the principal
terms an conditions and extent and operation of the charge |
(a) Rate of
Interest Interest at the
rate as may be communicated by the bank from time to time. (b) Terms of
repayment Working Capital
Facility shall payable On Demand and Term Loan Facility shall repayable in
suitable installments. (c) Margin As may be
stipulated by the Bank from time to time (d) Extent and
operation of the charge The Company created an equitable
mortgage by way of deposit of title deeds in respect of its immovable properties
as stated under item No.15 as security
for the due repayment of Rs.311.057 Millions granted to Rossari Biotech
Limited, Rossari Specialities and Neutron Impex P Ltd of Rs.273.557 Millions,
Rs.7.500 Millions and Rs.30.000 Millions respectively, ("all the Borrowers"), including
principal amount of the Facility, interest, liquidated damages, costs,
charges and expenses etc |
|
Short Particulars
of the property charged |
i)
Immovable
properties bearing Office No.401, 4th Floor Omega Powai Mumbai-400076 ii)
Unit
No.201 A and 201 A T on 2nd Floor admeasuring approximately 7891 Sq.ft. of
Unit Carpet Area & 5119 Sq.Ft. Of (Owned By Rossari Biotech Limited). iii)
Unit
No.201 B on 2nd Floor admeasuring approximately 1893 Sq.ft. of Unit Carpet
Area along with Three (3) Reserved Car Parking Spaces (Owned By Rossari
Biotech Limited). iv)
|
Form 8
|
Name of the
company |
ROSSARI CHEMICALS INDIA PRIVATE
LIMITED |
|
Presented
By |
HDFC Bank Limited |
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1) Date and
description of instrument creating the change |
Letter of
hypothecation of dated 26/04/2004 |
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2) Amount secured
by the charge/amount owing on the securities of charge |
Rs. 60.000
millions |
|
3) Short
particular of the property charged. If the property acquired is subject to
charge, date of the acquired of the property should be given |
All the Stock in
trade both and present and future consisting of raw material, finished good
goods in process of manufacturing and other all the book debts, o/s money
receivable claims and bills which are now due or owner or which may at any
time hereafter shall continue to subsist till such time all the however due
have been repaid in full. Mortgage of properties situated at Flat No 401
Omega Building, |
|
4) Gist of the
terms and conditions and extent and operation of the charge. |
The facility
provided to the borrower in the nature. The bank in
entitled to charge interest at such
rate as may be determined by the bank The charges and
hypothecation shall continued to subsist till such time all the borrower due have
been repaid in full. The borrower will at all times maintain a sufficient
value of the receivable to provide the margin of security regd, by the bank
time to time |
|
5) Name and
Address and description of the person entitled to the charge. |
HDFC Bank Limited HDFC Bank House Senapati Bapat
Marg, Mumbai - 400013, |
Fixed Assets :
- Office Premises
- Telephones
- Electrical Installations
- Furniture and Fixtures
- Computers
- Office Equipment
- Motor Vehicles
Subject is incorporated to carry on the business of
manufacturers, processors, producers, importers, exporters, buyers, sellers,
traders, suppliers, stockists, agents, merchants, distributors and dealers in
chemicals, chemicals compounds, organic and inorganic dyes, textile and textile
auxiliaries.
The company
endeavor to provide a company platform for exchange of information view by
industry expresses a medium to spread technical and commercial knowledge
through the bimonthly publication fussers was been well received and
appreciated. The company is the any one to publish fussers in English Hindi and
Tamil.
The prospects for
the companies are bright during the year the company has achieved rebut growth
and were able to clock a 41% increase in turn over as compared to previous
year.
As Per
Website Details
Subject an ISO 9001:2000 company was incorporated in 1997.The company's
role as an emerging giant in textile processing industry is reflected in it's
message. "Power to grow with the needs".
On the leading edge of Chemicals and Bio-chemical technology, Subject is
driven by young, dynamic technocrats that represent a new way of thinking and
practical approach to the textile industry's problem. The company's marketing
philosophy reinforces it's strong emphasis on product quality combining the
benefit offered by technical and sales service team. their corporate office is
located at Mumbai - the finance center of
Subject is one stop-shop for textile processing. Product range dedicated
to developing radically new complete product gamut, consistent quality,
reliability and timely supplies. Using it's expertise and professional
approach, Rossari will continue to develop newer and better product with new
processes best suited for a variety of application satisfying stringent
standard, properties and ecological requirements
Cutting Edge Technology :
Subject
name today is guarantee of best manufacturing practice, quality assurance and
total quality management.
All
made possible by manufacturing unit equipped with latest technology and an
efficient, trained workforce that sees the products to its final perfected
stage.
Parallel
with the commitment to product quality, is Subject commitment to service the
customer and meeting his needs. Flexibility and Reliability are two of the most
important objective in Rossari quality of service policy.
Reaching Global Market :
Guarantee
of supply, consistent quality, affordability, strong technical back-up are just
some of the reason why Rossari product's finding growing acceptance in all
corner of the globe. At Rossari focus relentlessly on their customer. Because
of their resources, they compete effectively in ever changing world market. The
company's dedication to serve domestic and overseas customer with an ever
broadening range of quality products has resulted in an organization that is
successful by an standard.
TECHNICAL SUPPORT :
Subject
impressive technical resource are directed at streamlining it's manufacturing
capabilities and upholding quality standards. It's state-of-the art
laboratories are staffed by highly qualified people, whose collective expertise
fulfills the diverse requirement of a textile processing industry. Research
teams constantly explore the potential for newer molecules and manufacturing
new products, as well as optimizing processes.
Subject can proudly claim
one of the best technical support and service team dedicated to look after
customer's requirements and problem.
Manufacturing
Subject an ISO 9001 : 2000 company and India’s largest
manufacturer of enzymes for textile processing, offers high concentrates and
standard formulations of Neutral Cellulose, Acid Cellulose, Engineered Acid
Cellulose (for low colour loss) Amylases, High Temperature Stable Amylases and
Catalyses, besides multizyme formulations for bioscouring, wool and silk
processing and print washing.
Subject new concept in textile processing which includes Colitz, Gamakleen, EBS (Enzymatic bio-scouring) and new product range which includes Flameshield, Fragma, Hydrogard, Snocool and Fabshield further reflects the company’s dedication towards developing the quality products to meet customer’s requirements.
Rossari’s R and D center for Biotechnology Research located
in New Mumbai
To meet the ever widening complex requirements of customer Rossari offers total solutions through it’s wide range of textile auxiliaries and chemicals right from pretreatment to finishing stage.
Rossari Labtech is a new company, set up for dealing in Laboratory Machines, Instruments and Standard Accessories to cater to the needs of Textile related Industry.
- Rossari Labtech offers
a wide range of machines and instruments for:
- Yarn testing and
fabric testing
- Dyeing – Printing –
Finishing and Testing
- Accessories and
Standard Grey Scales.
These products are designed and developed to
meet latest technological requirements and are user friendly. They play an
important role in :
·
Standardisation
of recipes and parameters
·
Shade
matching
·
Developing
new products, recipes and process parameters
·
Quality
control checks
·
Research
and development activities
·
Academic
institutes
Subject also offers ‘State of
Exports
Subject is
Subject one of the leading manufactures of textile specialty
chemicals and enzymes is introducing “Fabsheild“
Antimicrobial products and AEGIS Microbe Shield program. AEGIS Environment is
These type of finishes prevents the growth of bacteria thus preventing diseases. It acts as odor-eater too preventing the garments from unpleasant odors. The products have been proved environmental friendly and health protecting.
The end them application are sportswear, upholstery, medical purpose socks, undergarments, building construction, etc where the growth of micro-organism are high needs to be prevented also.
The product are being used for over 20 years in textile and their product have been used by world’s leading brands like Reebok, J.C Peeny, Adidas, WALMART, Marks and Spencer, Kimberly Clark and major hospital like Arthur G. James Cancer Hospital and Research Institute in USA etc.
In
Subject is now an ISO 9001:2000 company.
News
Subject is proud to announce that it has been accredited with ISO 9001:2000 certification recently.
The quality management system encompasses design, manufacturing and marketing of enzymes and textile auxiliaries. It will enhance the customer satisfaction by ensuring peak quality levels in products and services.
Add to this, select band of stalwarts viz. Ms. Meher Castelino, Prof (Dr.) M. D. Teli and Mr. V.C.Gupte, join the Editorial Board of Rossera (an in-house magazine), which would augment to knowledge outflow in the latest global happenings of textiles.
Meher castelino, a name synonymous with beauty and fashion.
She is a pioneer in fashion journalism in
Mr. V.C Gupte, known for his “Computer Color Matching” is presently working with Advanced Graphic Systems (AGS), the sole
distributor of Gretag Macbeth and Gain Associates. He had carried out extensive
work in application of CCM techniques for textile process houses and has worked
as an application specialist on international circuit. His special contribution
had been the setting up of UDCT –GretagMacbeth/AGS Color science laboratory,
which is the only one of its kind in
Prof. (Dr.) M.D. Teli, dignified personality in the field of
textiles, is a full fledged professor for past 12 years and head of textile
department of UICT. He is an Hon. Editor of Journal of textile association for
last 10 years and well versed with technical development in various sectors of
textile. Also he is known for organising a number of national and international
conference with Textile Association,
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 :
The 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.
The 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.44.81 |
|
|
1 |
Rs.69.28 |
|
Euro |
1 |
Rs.59.81 |
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 |
NO |
|
--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 |
|
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.