MIRA
INFORM REPORT
|
Report Date : |
19.01.2011 |
Note : Given Address has been changed to 7/46 – 1,
IDENTIFICATION DETAILS
|
Name : |
CRI PUMPS PRIVATE LIMITED |
|
|
|
|
Registered Office : |
7/46 – 1, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.03.2010 |
|
|
|
|
Date of Incorporation : |
31.01.1996 |
|
|
|
|
Com. Reg. No.: |
18-6902 |
|
|
|
|
CIN No.: [Company
Identification No.] |
U29120TZ1996PTC006902 |
|
|
|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
CMBC03078F |
|
|
|
|
Legal Form : |
Private Limited
Liability Company. |
|
|
|
|
Line of Business : |
Manufacturers,
Exporter and Importer of Borewell Submersible Pumpsets, Openwell Submersible
Pumpsets, Peripheral Pumpsets, Self Priming Jet Pumpsets, Centrifugal Self
Priming Pumpsets, Centrifugal Monoblock Pumpsets, Centrifugal Jet Pumpsets,
Borewell Compressor Pumpsets and Accessories. |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (50) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 6263000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a well
established company having satisfactory track. Trade relations are reported
as fair. Business is active. Payments are reported to be regular and as per
commitments. The company can
be considered good for business dealings at usual trade terms and conditions.
|
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – April 1, 2010
|
Country Name |
Previous Rating (31.12.2009) |
Current Rating (01.04.2010) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
LOCATIONS
|
Registered Office : |
7/46 – 1, |
|
Tel. No.: |
91-422-3027000 /
2669971 |
|
Fax No.: |
91-422-2669961 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Marketing Office : |
202, |
|
Tel. No. : |
91-422-3051300 |
|
|
|
|
Factory 1 : |
54-A, |
|
Tel. No.: |
91-422-2562091 /
2562092 [Marketing] / 3911600 /
2666395
|
|
Fax No.: |
91-422-2562065 /
2562144 / 2667052 |
|
E-Mail : |
|
|
Area : |
90,000 Sq.ft |
DIRECTORS
As on 06.09.2010
|
Name : |
Mr. Gopal
Soundarajan |
|
Designation : |
Director |
|
Address : |
“Aishwarya” No.
1, Shringar Nagar Extension, Bharathi Colony, |
|
Date of
Birth/Age : |
16.05.1958 |
|
Date of
Appointment : |
31.01.1996 |
|
|
|
|
Name : |
Mr. Gopal
Selvaraj |
|
Designation : |
Director |
|
Address : |
46, ATT Colony,
Uppilipalayam, Coimbatore-641011, |
|
Date of
Birth/Age : |
01.07.1966 |
|
Date of
Appointment : |
31.01.1996 |
|
|
|
|
Name : |
Mr. Gopal Rajendran |
|
Designation : |
Director |
|
Address : |
46, ATT Colony,
Uppilipalayam, Coimbatore-641011, |
|
Date of
Birth/Age : |
21.04.1961 |
|
Date of
Appointment : |
31.01.1996 |
|
|
|
|
Name : |
Mr. Velumani Chinnasamy |
|
Designation : |
Director |
|
Address : |
46, ATT Colony, Uppilipalayam, Coimbatore-641011, |
|
Date of
Birth/Age : |
15.12.1950 |
|
Date of
Appointment : |
18.05.2007 |
|
|
|
|
Name : |
Ms. Sarojini Gopal |
|
Designation : |
Director |
|
Address : |
46, ATT Colony, Uppilipalayam, Coimbatore-641011, |
|
Date of
Birth/Age : |
09.04.1945 |
|
Date of
Appointment : |
28.01.2008 |
|
|
|
|
Name : |
Ms. Lalithamani Rajendran |
|
Designation : |
Director |
|
Address : |
46, ATT Colony, Uppilipalayam, Coimbatore-641011, |
|
Date of
Birth/Age : |
11.07.1965 |
|
Date of
Appointment : |
28.01.2008 |
|
|
|
|
Name : |
Ms. Chitra Selvaraj |
|
Designation : |
Director |
|
Address : |
46, ATT Colony, Uppilipalayam, Coimbatore-641011, |
|
Date of
Birth/Age : |
28.07.1971 |
|
Date of
Appointment : |
28.01.2008 |
|
|
|
|
Name : |
Ms. Asha Geethanjali Soundararajan |
|
Designation : |
Director |
|
Address : |
46, ATT Colony, Uppilipalayam, Coimbatore-641011, |
|
Date of
Birth/Age : |
31.12.1964 |
|
Date of
Appointment : |
28.01.2008 |
|
|
|
|
Name : |
Ms. Amudha Lakshmi Aruchswamy |
|
Designation : |
Director |
|
Address : |
537A, II Avenue, New Thillai Nagar, P. N. Pudur, Coimbatore – 641041,
Tamilnadu, India |
|
Date of
Birth/Age : |
21.05.1980 |
|
Date of
Appointment : |
18.06.2010 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 06.09.2010
|
Names of Shareholders |
|
No. of Shares |
|
G. Soundarajan |
|
1702530 |
|
G. Selvaraj |
|
1702530 |
|
G. Rajendran |
|
1702530 |
|
Sarojini Gopal |
|
31250 |
|
CRI Amalgamations
Private Limited ( |
|
6874910 |
|
C. Velumani |
|
486250 |
|
Total |
|
12500000 |
As on 06.09.2010
|
Category |
|
Percentage
of Holding |
|
Bodies Corporate (not mentioned above) |
|
55.00 |
|
Directors or relatives of directors |
|
45.00 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturers,
Exporter and Importer of Borewell Submersible Pumpsets, Openwell Submersible Pumpsets,
Peripheral Pumpsets, Self Priming Jet Pumpsets, Centrifugal Self Priming
Pumpsets, Centrifugal Monoblock Pumpsets, Centrifugal Jet Pumpsets, Borewell
Compressor Pumpsets and Accessories. |
||||||||
|
|
|
||||||||
|
Products : |
|
||||||||
|
|
|
||||||||
|
Agencies Held : |
CRI Pumps SA
(PTY) Limited |
||||||||
|
|
|
||||||||
|
Exports : |
|
||||||||
|
Products : |
All products |
||||||||
|
Countries : |
Europe Country,
American Countries, |
||||||||
|
|
|
||||||||
|
Imports : |
|
||||||||
|
Products : |
Raw Materials and
Machineries |
||||||||
|
Countries : |
|
GENERAL INFORMATION
|
No. of Employees : |
500 |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Bankers : |
v
State
Bank of Commercial Branch, v
IDBI
Bank, Specialized Corporate Branch, #72, May Flower, E Castle, v
Standard
Chartered Bank v
Citi
Bank v
Corporation
Bank, Industrial Finance Branch, |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
K S G Subramanyam
and Company Chartered Accountants |
|
Address : |
II Floor, United
Shopping Complex, 94/36, |
|
|
|
|
Associates/Subsidiaries : |
|
|
|
|
|
Holding Company: |
C R I
Amalgamations Private Limited CIN No. : U70101TZ2005PTC011989 |
CAPITAL STRUCTURE
As on 06.09.2010
Authorized Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
15250000 |
Equity Shares |
Rs. 10/- Each |
Rs.152.500 Millions |
Issued, Subscribed & Paid-up Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
12500000 |
Equity Shares |
Rs. 10/- Each |
Rs.125.000 Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
125.000 |
125.000 |
43.930 |
|
|
2] Share Application Money |
0.000 |
0.000 |
81.070 |
|
|
3] Reserves & Surplus |
1440.821 |
1065.184 |
977.440 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
1565.821 |
1190.184 |
1102.440 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
1805.391 |
1433.802 |
1116.637 |
|
|
2] Unsecured Loans |
72.305 |
228.911 |
126.466 |
|
|
TOTAL BORROWING |
1877.696 |
1662.713 |
1243.103 |
|
|
DEFERRED TAX LIABILITIES |
43.100 |
44.200 |
19.703 |
|
|
|
|
|
|
|
|
TOTAL |
3486.617 |
2897.097 |
2365.246 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
1187.793 |
1121.738 |
759.433 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
108.026 |
41.376 |
35.376 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
1968.770
|
1138.589
|
1277.794
|
|
|
Sundry Debtors |
590.597
|
606.093
|
395.471
|
|
|
Cash & Bank Balances |
120.795
|
152.634
|
155.199
|
|
|
Other Current Assets |
0.000
|
0.000
|
0.000
|
|
|
Loans & Advances |
829.600
|
670.473
|
580.214
|
|
Total
Current Assets |
3509.762
|
2567.789
|
2408.678 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Current Liabilities |
690.716
|
420.701
|
529.818
|
|
|
Provisions |
628.248
|
413.105
|
308.423
|
|
Total
Current Liabilities |
1318.964
|
833.806
|
838.241 |
|
|
Net Current Assets |
2190.798
|
1733.983
|
1570.437 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
3486.617 |
2897.097 |
2365.246 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
|
|
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL (A) |
|
6475.984 |
4470.792 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL (B) |
|
5711.102 |
4199.992 |
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (A-B) (C) |
|
764.882 |
270.800 |
|
|
|
|
|
|
|
|
|
Less |
TAX (D) |
|
267.500 |
96.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(C-D) (E) |
|
497.382 |
174.800 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
|
549.522 |
481.609 |
|
|
|
Dividend Earnings |
|
1.865 |
5.282 |
|
|
|
Interest Earnings |
|
4.803 |
0.886 |
|
|
TOTAL EARNINGS |
|
556.190 |
487.777 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Machineries |
|
124.297 |
253.054 |
|
|
|
Raw Materials |
|
44.103 |
46.070 |
|
|
|
Others |
|
3.353 |
36.464 |
|
|
TOTAL IMPORTS |
|
171.753 |
335.588 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
|
39.79 |
13.66 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
7.68
|
3.91 |
-- |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
16.28
|
7.34 |
-- |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.49
|
0.23 |
-- |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
2.04
|
2.10
|
1.89 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.66
|
3.08
|
2.87 |
LOCAL AGENCY FURTHER INFORMATION
OPERATIONS :
The company is engaged in manufacturing, buying, selling, exporting, importing
of all types, kinds and grades of motors, pumps and accessories used for
various applications.
Net profit of the company was Rs.4.685 (2009 : Rs.2.841), after taxation
of Rs.1.867 (2009 : Rs.1.147)
CHANGE OF ADDRESS
:
Registered office of the company has been shifted from
Bankers Charges
Report as per Registry
|
This form is for |
Modification of
charge |
|
Charge
identification number of the modified |
90004683 |
|
Corporate
identity number of the company |
U29120TZ1996PTC006902 |
|
Name of the
company |
CRI Pumps Private
Limited |
|
Address of the
registered office or of the principal place of business in |
7/46 – 1, |
|
Type of charge |
Immovable
property Book Debts Movable Property Floating Charge Current Assets |
|
Particular of
charge holder |
IDBI Bank, Specialized
Corporate Branch, #72, May Flower, E Castle, |
|
Nature of
description of the instrument creating or modifying the charge |
i) Supplemental
Deed of Hypothecation ii) Supplemental Facilities
Agreement |
|
Date of
instrument Creating the charge |
03.11.2010 |
|
Amount secured by
the charge |
Rs.858.677
Millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Terms of
Repayment : Working Capital:
Repayable on Demand. Term Loan Nos
2,3,4,5,8: BPLR Minus 2% p.a. with interest reset option at the end of every
Financial Year. Term Loan No 9:
BPLR Minus 2.25% p.a. with interest reset option at the end of every
Financial Year. Margin : Cash Credit,
WCDL/ FCNR(B)(Inner limit of CC Limit)- 25% PC/ PCFC(Inner limit of CC Limit), Letter Of
Credit/ Buyers Credit, Bank Guarantee Limit( Inner Limit to LC))- 10% Extent and
Operation of the charge : The Charge
Operates as security for the due repayment of all liabilities in respect of
the loan/ limit including costs, charges and expenses and all other monies
due to the bank. Others : Cash Credit: BBR+
200 bps(Present effective rate 10.50%p.a.) payable monthly. FCNR(B): LIBOR
plus 350 bps(minimum) Disbursement of FCNR(B) loan will be subject to
availability of funds. The pricing on FCNR(B) also depends upon availability
of funds. PC/PCFC: BBR+ 125 bps for INR(Present effective rate 9.75p.a.)
LIBOR plus 200 bps for FCY. EBR/FBN: BBR+ 125 bps for INR(Present effective
rate 9.75%p.a. LIBOR plus 200 bps for FCY. |
|
Short particulars
of the property charged |
Pari- Passu first
charge over the current assets of the company. |
|
Date of latest
modification prior to the present modification |
24.07.2009 |
|
Particulars of
the present modification |
The amount
secured by the Existing charge Stands enhanced From Rs. 788.677 Millions To
Rs. 858.677 Millions |
Fixed
Assets
v
Land
v
Building
v
Machinery,
Tools and Meters
v
Furniture
and Electric Fittings
v
Vehicle
v
Office
Equipments
v
Wind
Will
Website Details attached:
Profile
The beginning of
C.R.I, back in 1961, was a resolute attempt to produce a few irrigation equipments
using the limited facility of an in-house foundry. Now, after four eventful
decades, the founder’s dream has become a reality, a multi-winged organization
that produces different varieties of pumps and motors that are engineered to
perfection. What made the legendary growth possible is the flawlessly
maintained value system of the company. The name C.R.I. itself encapsulates the
company’s ethos: “Commitment, Reliability, Innovation” and it has now become a
household name associated with water lifting pumps – be it for agriculture,
industry, domestic, mining or civil applications.
v
4 decades of engineering expertise
v
State-of-the-art Research facilities
v
90,000 Sq. Metres of covered area equipped with the
latest machinery
v
More than 830 varieties of water lifting pumps
& Motors
v
Production capacity exceeding 7, 50,000 pumps and
motors per annum
v
Submersible pumps with 100% stainless steel
construction
v
Fully mechanized and automated Foundry with latest
technology
v
Winner of many prestigious awards for quality and
excellence
v
ISO 9001 accreditation
v
World wide exports
The Company
always keeps pace with the changing scenario and seldom fails in coming up with
outstanding solutions every time. The unerring teamwork, which goes into the
manufacture of every product, has brought in impeccable recognition for the
company as well as its products – worldwide.
Products
50 Hz
·
Water Lifting
Bore Well Compressor Pumps
60 Hz
Awards
What helped us a
lot in attracting the admiration of authentic brains is certainly their method
of modifying their perspective from time to time.
And, the fact is, getting recognized or rewarded was always something that
vitally increased their responsibility toward the consumers.
Most people call it a challenge. At C.R.I., we call it
Infrastructure
C.R.I. group
produces more than 830 varieties of water lifting pumps & motors used in
Agriculture, Industry, Mining, Domestic and Civil applications.
C.R.I
factories with 90,000 Sq.mtrs. of covered premises are equipped with
State-of-the-art machinery and its own foundry division is fully mechanized and
automated with latest know-how.
The group is one among the few manufacturers in the world to
produce bore whole submersible pumps out of 100% Stainless Steel materials (SS
304/316) grade. Also the products have earned a unique reputation for its
quality and excellence in
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.45.53 |
|
|
1 |
Rs.72.55 |
|
Euro |
1 |
Rs.60.62 |
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 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--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 |
|
50 |
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.