MIRA
INFORM REPORT
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Report Date : |
19.01.2011 |
IDENTIFICATION DETAILS
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Name : |
MITTAL TECHNOPACK PRIVATE LIMITED |
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Registered Office : |
14, |
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Country : |
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Financials (as on) : |
31.03.2010 |
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Date of Incorporation : |
09.08.2002 |
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Com. Reg. No.: |
21-94990 |
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CIN No.: [Company
Identification No.] |
U25209WB2002PTC094990 |
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IEC No.: |
0203019148 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
CALM04123A |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer, Exporter and Importer of Jumbo Bags. |
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 269000 |
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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 an established company having satisfactory track. Trade
relations are reported as fair. Business is active. Payments are reported to
be usually correct and as per commitments. The company can be considered normal for business dealings at usual trade
terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – April 1, 2010
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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 DECLINED BY
Management Non Co-Operative [Name not disclosed]
LOCATIONS
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Registered Office : |
14, |
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Tel. No.: |
91-33-22570995 / 23252995 / 22100419 / 22439307 / 22100419 |
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Fax No.: |
91-33-22100419 |
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E-Mail : |
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Website : |
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Area : |
1500 Sq. ft. |
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Location : |
Owned |
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Factory : |
Jalan Industrial Complex, Gate No. 3, Lane no. 5, Sankharidaha,
Domjur, Howra-711411, West |
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Tel. No.: |
91-33-32527388 / 32525005 |
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Fax No.: |
91-33-26418107 |
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E-Mail : |
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Area : |
10000 Sq. ft. |
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Location : |
Owned |
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Sales Office : |
M-34, Veena Nagar, Indore-452012, |
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Tel. No.: |
91-731-2570995 / 3252995 / 4266944 |
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Fax No.: |
91-731-4009179 |
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E-Mail : |
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Area : |
800 Sq. ft. |
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Location : |
Rented |
DIRECTORS
AS ON 30.09.2009
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Name : |
Mr. Manoj Kumar Agarwal |
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Designation : |
Managing Director |
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Address : |
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Date of Birth/Age : |
03.10.1973 |
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Qualification : |
B.Com |
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Date of Appointment : |
10.03.2004 |
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Name : |
Mr. Ram Prasad Agarwal |
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Designation : |
Director |
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Address : |
Grewal Colony, Bekar Bandh, Dhanbad-826001, |
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Date of Birth/Age : |
30.06.1946 |
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Qualification : |
B.Com |
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Date of Appointment : |
09.08.2002 |
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Name : |
Mr. Pramod Sahu |
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Designation : |
Director |
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Address : |
465, Subhash Nagar, Bye Lane, Dum Dum Cant, P. O. Rabindra Nagar,
Kolkata – 700065, West Bengal, India |
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Date of Birth/Age : |
02.01.1957 |
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Qualification : |
B.Com |
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Date of Appointment : |
15.12.2003 |
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Name : |
Mrs. Shakuntala Devi |
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Designation : |
Director |
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Address : |
Grewal Colony, Bekar Bandh, Dhanbad-826001, |
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Date of Birth/Age : |
13.07.1951 |
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Qualification : |
B.Com |
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Date of Appointment : |
31.07.2008 |
KEY EXECUTIVES
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Name : |
Mr. P K Panda and Company |
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Designation : |
Company Secretary |
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Address : |
7/1 B, |
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Name : |
Mr. Devendra Dubge |
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Designation : |
Vice President |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2009
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Names of Shareholders |
No. of Shares |
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Manoj Kumar Agarwal |
241100 |
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Ram Prasad Agarwal |
370100 |
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Bharosa Distributors Private Limited, Orissa |
676000 |
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Akhil Kumar Shah |
60000 |
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Nikhil Kumar Shah |
40000 |
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GSA Commercial Private Limited, Kolkata |
50000 |
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Mittal Polypacks Private Limited, Zharkhand |
380000 |
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Daya Shankar Singh |
1000 |
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Gaja Nand Agarwal |
5500 |
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Nandlal Agarwalla |
23500 |
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Punch Deo Singh |
5500 |
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Resh Behari Dubby |
1000 |
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Shambhu Nath Agarwal |
83500 |
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Satendra Prasad Singh |
5500 |
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Sushil Kumar Agarwal |
20000 |
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Uttam Kumar Dubey |
5500 |
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Binay Prajapati |
79500 |
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Ram Prasad Agarwal HUF |
140000 |
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Naresh Singh |
40000 |
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Amal Kumar Biswas |
82500 |
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Debases Mukherjee |
50000 |
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Sukumar Roy |
102500 |
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Uttam Das |
25000 |
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Total |
2487700 |
Equity shares Breakup as on
30.09.2009
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Category |
Percentage |
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Bodies corporate |
44.46 |
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Directors or relatives of directors |
30.20 |
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Other top fifty (50) shareholders |
25.34 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer, Exporter and Importer of Jumbo Bags. |
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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 : |
PP Granules |
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Countries : |
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Terms : |
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Selling : |
L/C, Cash and Credit (30 days) |
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Purchasing : |
L/C, Cash and Credit (30 days / 60 days) |
PRODUCTION STATUS AS ON 31.03.2010
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Licensed Capacity |
Not Applicable |
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Installed Capacity |
3000 MT per annum for the Manufacturer of PP/HDPE/Fabric/Woven
Sacks/Jumbo bags |
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Actual Production |
Fabric : 3024.275 MT (2504.979 MTused
for further production) Bags : 3909.087 MT |
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
420 (In office 20 and In Factory 400) |
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Bankers : |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
J Loyalka and Company Chartered Accountants |
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Address : |
16, |
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Associates/Subsidiaries : |
·
Mittal Poly Pack Private Limited Address
: C/O Diamond engineering, Line
of Business : Manufacrturer of HDPE/PP Woven Sacks / Bags / Fabrics / Jumbo Bags ·
Diamond Engineering Address
: 142, Line
of Business : Dealers of Cummins Sales and Service ( |
CAPITAL STRUCTURE
As on 31.03.2010
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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3000000 |
Equity Shares |
Rs.10/- each |
Rs. 30.000 millions |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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2487700 |
Equity Shares |
Rs.10/- each |
Rs. 24.877
millions |
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FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
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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 |
24.877 |
24.877 |
24.877 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
50.559 |
42.586 |
34.898 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
75.436 |
67.463 |
59.775 |
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LOAN FUNDS |
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1] Secured Loans |
76.967 |
84.785 |
101.530 |
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2] Unsecured Loans |
14.303 |
13.648 |
14.447 |
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TOTAL BORROWING |
91.270 |
98.433 |
115.977 |
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DEFERRED TAX LIABILITIES |
2.318 |
2.318 |
2.318 |
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Deferred government Grants |
6.092 |
6.741 |
7.390 |
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TOTAL |
175.116 |
174.955 |
185.460 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
81.958 |
83.358 |
88.574 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.000 |
0.000 |
1.536 |
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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 |
37.971
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45.091
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63.403 |
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Sundry Debtors |
46.410
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53.317
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34.333 |
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Cash & Bank Balances |
10.024
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9.251
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10.571 |
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Other Current Assets |
0.000
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0.000
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0.000 |
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Loans & Advances |
30.011
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21.892
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32.581 |
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Total
Current Assets |
124.416
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129.551
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140.888 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditors |
25.656
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25.956
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41.433 |
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Other Current Liabilities |
1.195
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9.123
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2.418 |
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Provisions |
4.444
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2.986
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1.872 |
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Total
Current Liabilities |
31.295
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38.065
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45.723 |
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Net Current Assets |
93.121
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91.486
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95.165 |
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MISCELLANEOUS EXPENSES |
0.037 |
0.111 |
0.185 |
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TOTAL |
175.116 |
174.955 |
185.460 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
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SALES |
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Income |
395.841 |
383.921 |
NA |
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Other Income |
7.332 |
0.000 |
NA |
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TOTAL |
403.173 |
383.921 |
NA |
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Less |
EXPENSES |
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TOTAL |
393.742 |
345.290 |
NA |
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PROFIT BEFORE
TAX |
9.431 |
8.803 |
3.547 |
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Less |
TAX |
1.457 |
1.115 |
0.545 |
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PROFIT AFTER TAX
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7.974 |
7.688 |
3.002 |
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EARNINGS IN
FOREIGN CURRENCY |
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Export Earnings |
242.468 |
248.656 |
NA |
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TOTAL EARNINGS |
242.468 |
248.656 |
NA |
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Earnings Per
Share (Rs.) |
3.21 |
3.09 |
-- |
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KEY RATIOS
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PARTICULARS |
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31.03.2010 |
31.03.2009 |
31.03.2008 |
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PAT / Total Income |
(%) |
1.98 |
2.49 |
NA |
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Net Profit Margin (PBT/Sales) |
(%) |
2.38 |
2.29 |
NA |
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Return on Total Assets (PBT/Total Assets} |
(%) |
4.57 |
4.13 |
1.55 |
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Return on Investment (ROI) (PBT/Networth) |
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0.13 |
0.13 |
0.06 |
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Debt Equity Ratio (Total Liability/Networth) |
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1.62 |
2.02 |
2.71 |
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Current Ratio (Current Asset/Current Liability) |
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3.97 |
3.40 |
3.08 |
LOCAL AGENCY FURTHER INFORMATION
Sundry Creditors
Details:
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Particulars |
Rs.
In Millions 31.03.2010 |
Rs.
In Millions 31.03.2009 |
Rs.
In Millions 31.03.2008 |
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Sundry Creditors
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For Fixed Assets |
0.148 |
0.505 |
0.455 |
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For Goods |
20.543 |
19.663 |
34.797 |
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For Expenses |
4.569 |
5.532 |
6.031 |
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Advance From Customer |
0.396 |
0.255 |
0.150 |
TRADE REFERENCES
- Hindalco and
Company
- All
- Plastic
Export Promotion Council
- Indian
Plastics Federation
- Federation of
Small and Medium Industries
Bankers Charges Report
as per Registry
Form No. 8
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This form is for |
Modification of
charge |
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Charge
identification number of the modified |
10032796 |
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Corporate
identity number of the company |
U25209WB2002PTC094990 |
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Name of the
company |
MITTAL TECHNOPACK
PRIVATE LIMITED |
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Address of the
registered office or of the principal place of business in |
14, |
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Type of charge |
Immovable
property Book debts Movable property
(not being pledge) Floating charge Others Plant and
Machinery |
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Particular of
charge holder |
UCO Bank Kolkata Main Branch, 10, BTM Sarani, ( |
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Nature of description
of the instrument creating or modifying the charge |
(1) Deed Of
Hypothecation of Goods to Secure Demand Cash Credit (ADHOC), (2) Deed of
Hypothecation of Book Debts to Secure Demand Cash Credit (ADHOC) (3) Hypothecation
of Movable Plant and Machinery and Other Fixed Assets. (4) Letter
Confirming Extension. of Equitable Mortgage by Deposit of Title Deeds. |
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Date of
instrument Creating the charge |
15.05.2009 |
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Amount secured by
the charge |
Rs.162.000
Millions |
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Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest Cash Credit: @
1.50% above BPLR Which is at Present 12.50% P.A. I.E. 14.00% P.A. With Monthly Rests.
EPC/PCFC/PSFC/FBP : As Per Bank Guidelines. Cash Credit (ADHOC)
: @ 2% P.A. Over Applicable Rate of Interest I.E. 16.00% P.A. With Monthly
Rests. Commission on LC/BG : As Per
Bank Guidelines. The Above Rate of
Interest may be Revised Subject to Change by The Bank/RBI From Time to Time. Terms of
Repayment Repayable on
Demand Margin Cash Credit: 25%
on Stocks and Book Debts. EPC.>10% on
Stocks of Rae Materials and Finished Goods. FBP/EBR/.PSFC
>10% on Export Receivables. Extent and
Operation of the charge Exclusive First
Charge In Favour Of UCO Bank, Mid Corporate Branch, 10, B. T. M. Sarani,
Kolkata Others The Hypothecation
Stocks, All Sales, Realizations and Insurance Proceeds Thereof and All The
Book Debts and Its Realizations and All The Documents Under This Security
Shall Be Held as The Bank's Exclusive Property and The Company Will Not
Create Any Mortgage, Charge, Lien or Encumbrances Affecting the Same. The Hypothecated Assets Shall be Insured
Against Loss or Damage Under Bank Clause. |
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Short particulars
of the property charged |
Hypothecation Of Stocks
Of Raw Materials I P and Finished Goods and Other Movables Including All
Movable Plant and Machinery Which Now Or Hereafter From Time To Time Stored
Or To Be Stored At The Company's Premises/Factory Situated At Jalan
Industrial Complex, Gate No 3,Sankharidaha,Domjure,Howrah,W.B. Or Wherever
Else and Hypo. Of All Present and Future Book Debts , Receivables Etc. of The
Co. Equitable Mortgage of Land and Buildings Situated At Mouza: Sankharidaha
,P.S Domjur, |
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Date of latest modification
prior to the present modification |
05.05.2009 |
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Particulars of
the present modification |
By This
Modification The Bank Has Sanctioned ADHOC Cash Credit Limit of Rs. 17.000
Millions Over and Above The Existing Credit Facilities of Rs. 145.000
Millions. Therefore, The Overall Working Capital Limit Has Been Enhanced From
Rs. 145.000 Millions to Rs. 1620.000 Millions All Other Terms, Conditions and
Properties Charged and Mortgaged as Security Remain Unaltered. |
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Corporate identity
number of the company |
U25209WB2002PTC094990 |
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Name of the
company |
MITTAL TECHNOPACK PRIVATE LIMITED |
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Address of the
registered office or of the principal place of business in |
14, |
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This form is for |
Modification of
charge |
|
Type of charge |
·
Immovable
property ·
Book
debts ·
Movable
property (not being pledge) ·
Floating
charge ·
Others Plant and Machinery |
|
Particular of
charge holder |
UCO Bank Kolkata Main Branch, 10, BTM Sarani, ( |
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Nature of
instrument creating charge |
·
Agreement
for Inland/Foreign Bills purchased / Discounting ·
Equitable
mortgage by deposit of title deeds (No instrument was executed) |
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Date of
instrument Creating the charge |
15.06.2007 |
|
Amount secured by
the charge |
Rs.167.000
millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
·
Rate
of interest Cash Credit: At BPLR which is at present 12% p.a. EPC/FCPC: BPLR – 3.5% i.e. 8.50% p.a. pr as per Bank guidelines. FBP/EBR/PSFC: BPLR – 3.5% presently 8.50% p.a. (For PSFC LIBOR + 1%
p.a.) The above rate of interest may be revised subject to change in BPLR
from time to time. ·
Terms
of repayment Working Capital Limit – Repayable on demand or as per Bank Guidelines ·
Margin Cash Credit : 25% on stocks and book debts RPC : 10% on stocks of Raw Materials and Finished Goods FBP/EBR/PSFC : 10% on Export receivables ·
Extent
and operation of the charge The entire assets hereby hypothecated and mortgaged by the company in
favour of the UCO Bank stands operated by way of exclusive first charge. ·
Others The Hypo. Stocks, all sales, realisations and insurance proceeds
thereof and all the book debts amd its realizations and al the documents
under this security shall be held as the Bank’s exclusive property and the
company will not create any mortgage, charge, lien or encumbrances affecting
the same. The hypothecated assets shall be insured against loss or damage
under Bank Clause. |
|
Particulars of
the property charged |
Hypothecation of
Stocks of Raw Material, W.I.P. and Finished goods and other movables
including movable plant and machinery which now or hereafter from time to
time during this security stored or to be stored at the companies
premises/factory situated at Jalan Industrial Complex, Gate No. 3,
Sankharidaha, Domjure, Howrah, W.B. or wherever else and hypo. Of all present
and future book debts, receivables etc. of the company. Equitable mortgage of
land and buildings situated at Mouza; Sankharidaha, P S Domjur, |
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Particulars of
the present modification |
The Bank has
sanctioned bill discounting under L/C of Rs.70.000 millions in addition to
existing working capital limit of Rs.97.000 millions and the overall working
capital limit of Rs.167.000 millions (Enhanced from Rs.97.000 millions) has
been additionally secured by equitable mortgage of 2.290 Acres of land together
with buildings and structures situated at Mouza; Sankharidaha, P S Domjur,
Dist. Howrah, W.B. All other terms
and conditions remain unaltered. |
FIXED ASSETS
- Land and
Boundary Wall
- Plant and
Machinery
- Electrical Installation
- Motor Car
- Motor Cycle
- Cycle
- Furniture and
Fixture
- D.G. Sets
- Computer and
Peripherals
- Office
Equipments
AS PER WEB DETAILS
PROFILE
Subject, a part of Mittal Group of Industries from Dhanbad, is a
company located on the East Coast of India, and is a premier manufacturer of
PP/HDPE based Polywoven products. The company is a Private limited Company,
closely held and superwised by the Agarwal Family.
Subject is the latest venture of the group setup to target the growing overseas
market of Bulk Packaging. The company is being equipped with the latest
machinery matching the global benchmarks in Production standards.
The company has achieved ISO 9001:2000 certification and it has implemented
standards from Day One to ensure consistent quality in all its deliveries.
Located in Jalan Industrial Complex near Kolkata and spread over an area of
10,000 sq mt, the unit has a unique locational advantage. The Industrial
Complex is located on the
The plant has an extrusion capacity of 400 MT per month, and it is capable of
delivering equivalent fabric and bags. The plant commenced its production in
2004 and is already serving key customers in Europe and
About the Group
The group has major presence in the
domestic Polywoven Products market and is operating through two group
companies, subject Last turnover was Rs. 461 Million and still targetting over
500 Million PA. The group started its activities in 1972 and ventured in
Polywoven packaging in 1985.
A new unit in Bilaspur has started
functioning having an Extrusion Capacity of approximately 400 MT per month.
This will be making small bags and specialty fabric.
The Management
The group is spearheaded by Mr. R. P.
Agarwal who pioneered the various group activities and currently headed by Mr.
Manoj Kumar Agarwal, a young and dynamic entrepreneur who has the ability to
stear the group for future growth.
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.45.59 |
|
|
1 |
Rs.72.31 |
|
Euro |
1 |
Rs.60.73 |
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 |
NO |
|
--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.