MIRA
INFORM REPORT
|
Report Date : |
19.01.2011 |
Note:
The given address could not be confirmed
IDENTIFICATION DETAILS
|
Name : |
LIBRA INTERNATIONAL LIMITED |
|
|
|
|
Formerly Known As : |
DEVH FOAM LIMITED |
|
|
|
|
Registered Office : |
Village Thantewal, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.03.2010 |
|
|
|
|
Date of Incorporation : |
28.03.1981 |
|
|
|
|
Com. Reg. No.: |
55-4469 |
|
|
|
|
CIN No.: [Company
Identification No.] |
U25209HP1981PLC004469 |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business : |
Manufacturer of Mattress and Allied Products. |
RATING & COMMENTS
|
MIRA’s Rating : |
B (30) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 290000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow But Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having moderate track. Profitability
of the company appears to be low. However trade relations are reported as fair.
Business is active. Payments are reported to be slow but correct. The company can be considered for business dealings with some caution.
|
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 |
INFORMATION PARTED BY
|
Name : |
Mr. Pankaj Jain |
|
Designation : |
Director |
|
Contact No.: |
91-9811577774 |
LOCATIONS
|
Registered Office : |
Village Thantewal, |
|
Tel. No.: |
91-1795-222943 |
|
E-Mail : |
|
|
|
|
|
Factory : |
206, |
|
Tel. No.: |
91-11-40730000 |
|
Fax No.: |
91-11-40730036 |
DIRECTORS
As On 09.08.2010
|
Name : |
Mr. Pankaj Jain |
|
Designation : |
Managing Director |
|
Address : |
10-C, Court Lane, Civil Lines, Delhi-110054, |
|
Date of Birth/Age : |
20.10.1958 |
|
Date of Appointment : |
20.04.1995 |
|
DIN No. : |
00188700 |
|
|
|
|
Name : |
Mr. Samir Bimal Prakash Jain |
|
Designation : |
Director |
|
Address : |
144, Street 4, Avenue 3, Banjara Hills, Hyderabad-500003, |
|
Date of Birth/Age : |
09.07.1965 |
|
Date of Appointment : |
20.09.1999 |
|
Date of Ceasing: |
28.11.2008 |
|
DIN No. : |
00193847 |
|
|
|
|
Name : |
Mr. Prateek Pankaj Jain |
|
Designation : |
Director |
|
Address : |
10-C, Court Lane, Civil Lines, Delhi-110054, |
|
Date of Birth/Age : |
03.12.1984 |
|
Date of Appointment : |
17.03.2006 |
|
DIN No. : |
00193842 |
|
Pan No. : |
AEKPJ3724J |
|
Name of Partnership Firm : |
Aroma Enterprises Address: 4834/24, |
|
|
|
|
Name : |
Mr. Pranav Pankaj Jain |
|
Designation : |
Director |
|
Address : |
4834/24, |
|
Date of Birth/Age : |
23.01.1988 |
|
Date of Appointment : |
27.11.2008 |
|
DIN No. : |
02444176 |
KEY EXECUTIVES
|
Name : |
Mr. Prateek Jain |
|
Designation : |
Chairman Audit Committee |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As On 07.09.2009
|
Names of Shareholders |
|
No. of Shares |
|
Pankaj Jain |
|
490812 |
|
Anju Jain |
|
235250 |
|
Rekha Jain |
|
215375 |
|
Nirmal Jain |
|
151688 |
|
Bimal Prakashj Jain |
|
56250 |
|
Samir B Jain |
|
1238875 |
|
Bimal Prakash Jain (HUF) |
|
50000 |
|
Pankaj Jain (HUF) |
|
2028000 |
|
Pranav Jain |
|
59375 |
|
Prashant Jain |
|
525625 |
|
Prateek Jain |
|
28750 |
|
Prashant Jain and Prateek Jain |
|
770000 |
|
S.B. Distributors Limited – |
|
700000 |
|
Total |
|
6550000 |
As On 09.08.2010
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Mattress and Allied Products. |
|
|
|
|
Products : |
·
Coir ·
Truefoam and Combo Mattress ·
Spring Mattress ·
Yogamat ·
Pillow ·
Cushions ·
Sofa and Bed ·
Industrial Products |
|
|
|
|
Terms : |
|
|
Selling : |
Cash,
Credit |
|
|
|
|
Purchasing : |
Cash, Credit |
PRODUCTION STATUS ( As on 31.03.2009)
|
Particulars |
|
|
Unit |
Licensed / Installed Capacity |
|
PU Foam |
|
|
MT |
1500 |
|
Coir Mattress |
|
|
Pcs. |
172200 |
|
Adhesive |
|
|
MT |
600 |
GENERAL INFORMATION
|
No. of Employees : |
150 (In Office - 150) |
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Customers : |
Wholesalers |
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Bankers : |
|
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
--- |
|
|
|
|
Auditors : |
|
|
Name : |
Sandeep Bhatnagar and Associates Chartered Accountant |
|
Address : |
Flat No. 12, Sheel Tara House, 4866/24, Ansari Road, Darya Ganj, New
Delhi – 110 002, Delhi, India |
|
Pan No.: |
AACPB3468K |
|
|
|
|
Holding Company : |
S.B. Distributors Limited |
|
|
|
|
Group Companies: |
|
CAPITAL STRUCTURE
As on 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
20000000 |
Equity Shares |
Rs. 10/- each |
Rs. 200.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
6550000 |
Equity Shares |
Rs. 10/- each |
Rs. 65.500 Millions |
|
|
|
|
|
Note:
Including 610050 (610050) Bonus equity shares
of Rs. 10/- (Rs. 10/-) each
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 |
65.500 |
65.500 |
65.500 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
8.346 |
37.850 |
36.833 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
73.846 |
103.350 |
102.333 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
86.280 |
93.395 |
110.095 |
|
|
2] Unsecured Loans |
34.900 |
29.900 |
15.500 |
|
|
TOTAL BORROWING |
121.180 |
123.295 |
125.595 |
|
|
DEFERRED TAX LIABILITIES |
6.125 |
4.652 |
3.359 |
|
|
|
|
|
|
|
|
TOTAL |
201.151 |
231.297 |
231.287 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
87.690 |
129.914 |
131.039 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
58.456
|
57.282
|
55.575 |
|
|
Sundry Debtors |
73.553
|
45.272
|
45.943 |
|
|
Cash & Bank Balances |
3.471
|
4.325
|
1.979 |
|
|
Other Current Assets |
0.000
|
0.000
|
0.000 |
|
|
Loans & Advances |
4.014
|
4.483
|
14.130 |
|
Total
Current Assets |
139.494
|
111.362
|
117.627 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
25.542
|
12.145 |
23.719 |
|
|
Other Current Liabilities |
9.530
|
8.094
|
4.651 |
|
|
Provisions |
0.485
|
0.485
|
0.974 |
|
Total
Current Liabilities |
35.557
|
20.724
|
29.344 |
|
|
Net Current Assets |
103.937
|
90.638
|
88.283 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.562 |
0.663 |
0.763 |
|
|
DEFERRED REVENUE EXPENDITURE |
8.962 |
10.082 |
11.202 |
|
|
|
|
|
|
|
|
TOTAL |
201.151 |
231.297 |
231.287 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
297.743 |
238.487 |
243.725 |
|
|
|
Other Income |
1.493 |
0.326 |
1.109 |
|
|
|
TOTAL (A) |
299.236 |
238.813 |
244.834 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Goods Sold |
212.837 |
158.527 |
175.941 |
|
|
|
Establishment Expenses |
16.344 |
14.272 |
11.728 |
|
|
|
Office and Administrative Expenses |
9.803 |
12.027 |
7.144 |
|
|
|
Selling and Distribution Expenses |
31.993 |
26.993 |
20.234 |
|
|
|
Preliminary Expenses W/off |
0.100 |
0.100 |
0.100 |
|
|
|
Deferred Revenue Expenses W/off |
1.120 |
1.120 |
0.00 |
|
|
|
Excise Duty |
6.016 |
4.961 |
11.628 |
|
|
|
TOTAL (B) |
278.213 |
218.000 |
226.775 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
21.023 |
20.813 |
18.059 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
14.457 |
15.310 |
12.236 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
6.566 |
5.503 |
5.823 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
3.617 |
2.707 |
2.432 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
2.949 |
2.796 |
3.391 |
|
|
|
|
|
|
|
|
|
Less |
TAX (I) |
2.156 |
1.779 |
1.571 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-I) (J) |
0.793 |
1.017 |
1.820 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
6.466 |
5.449 |
3.629 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
7.259 |
6.466 |
5.449 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
0.12 |
0.15 |
0.28 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
0.27
|
0.43
|
0.74 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
0.99
|
1.17
|
1.39 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.30
|
1.16
|
1.29 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.04
|
0.03
|
0.03 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
2.12
|
1.39
|
1.51 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
3.92
|
5.37
|
4.01 |
LOCAL AGENCY FURTHER INFORMATION
The Registered Office of the company has been shifted from Solan -
174101, Himachal Pardesh
RESULTS OF
OPERATIONS: (As On 31.03.2009)
During the year despite of the global economic recession which have
impacted the overall profitability of the company due to increased raw material
and labour cost and reduction in overall demand. The company has performed well
and has made a net profit of Rs.1.017 millions as compared to Rs.1.819 millions
during the immediately previous year.
Bankers Charges
Report as per Registry
|
Name of the company |
LIBRA INTERNATIONAL LIMITED |
|
Presented By |
Mr. Ravinder Pal (Director) |
|
1) Date and description of instrument creating the change |
Hypothecation of
Goods to secure demand cash credit dt. 09.12.1986 for Rs.2.000 millions
modified on 07.03.1989 limit raised to Rs. 5.400 millions and as on
05.05.1989 to Rs. 7.000 millions and as on 27.08.1990 to Rs.12.500 millions
with sub limits C/C Hypothecation Rs.5.000 millions , TLC Rs.7.500 millions |
|
2) Amount secured by the charge/amount owing on the securities of charge |
Rs.2.000 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 |
Hypothecation of
raw material such as steel scrap, nickle plates, low carbon, Ferro chrome,
Refectories, Silicon and other chemicals to be used for manufacture of steel
casting stock in process, finished goods. |
|
4) Gist of the terms and conditions and extent and operation of the charge. |
Repayable on
demand. Interest rate 6.5% over RBI Rate with minimum rate @ 16.5% p.a. |
|
5) Name and Address and description of the person entitled to the charge. |
Punjab National
Bank, Mohali, |
|
6) Date and brief description of instrument modifying the charge |
Supplementary
Agreement dated 17.01.1992 |
|
7) Particulars of modifications specifying the terms and conditions or the extent of operations of the charge in which modification is made and the details of the modification. |
The limit of
Rs.12.500 millions is now allow interchangeability of sub limit SLC/FLC to
the extent of Rs. 7.500 millions other terms and conditions will remain the
same. |
|
This form is for |
Modification of
charge |
|
Charge
identification number of the modified |
90168811 |
|
Corporate
identity number of the company |
U25209HP1981PLC004469 |
|
Name of the
company |
LIBRA INTERNATIONAL LIMITED |
|
Address of the
registered office or of the principal place of business in |
Village Thantewal, |
|
Type of charge |
Book Debts Movable Property |
|
Particular of
charge holder |
Punjab National Bank, Nalagarh, District Solan-173201, Email: roc@aaryaa.net |
|
Nature of
description of the instrument creating or modifying the charge |
Hypothecation of
goods and book debts to secure cash credit facility |
|
Date of
instrument Creating the charge |
31.12.2008 |
|
Amount secured by
the charge |
Rs. 67.000
Millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest BPLR+2 At present
14.50 p.a (Link to BPLR) or at Such rate the bank may fix Time to time with
monthly rests Terms of Repayment
Nil Margin Stocks -25% Book Debts -30% Extent and
Operation of the charge 100% |
|
Short particulars
of the property charged |
All the present
and future stock of raw material, stock in process, finished goods and store
and spares lying at units/ works, depots, in-transit, godowns, docks or else
where. All book debts (both, present and future) outstanding decrees, money
receivables, Government subsidies, claims, bill, contracts and investments. |
|
Particulars of
the present modification |
Enhance CC
Facilities increased Rs. 57.000 Millions to Rs. 67.000 Millions CC
(Hypothecation) Rs. 44.500 Millions CC (Book Debts)
Rs. 22.500 Millions |
Fixed Assets:
·
Computer
·
Furniture and Fixture
·
Vehicles
·
Land and Building
·
Plant and Machinery
·
Air Conditioner
·
Electrical Installation
·
Fire Fighting Equipments
·
Lab Equipments
·
Machinery
·
Refrigerator
·
Telephone Installation
·
Water Cooler
·
Weighting Scale
·
Building
WEBSITE DETAILS:
A Prelude
Sleep, the cheapest available medicine for many diseases. It not only builds
the strength, but also recharges the energy level of the central nervous
system. Since a well rested person can work at full potential, looks better and
brighter, everyone wants to buy only the premium quality products and
accessories for his/her bedroom. In an endeavor to deliver the masses with the
finest possible range of coir, mattress, pillows, etc. at market leading
prices, subject started its operations.
With its rich expertise of more than five decades, the company offers a
wide range of products meant for both the domestic and commercial purposes. The
company is also engaged in the import of certain chemicals meant for its
own production lines.
A Brief Introduction
Based at
Offered in a variety of appealing colours and shapes, their products
display a melange of creativity and uniqueness. They are professionally managed
by a group of professionals having extensive knowledge of the concerned
discipline. Their strict commitment towards quality and client satisfaction has
helped them to build dignified reputation in the market. They are an ISO 9001
certified concern, working with the only motto of providing world's best items
to their valued clients.
Group
Subject is a part of the S.B. Group, a progressive group
having diverse business establishments ranging from the product distribution
activities, organic chemicals to the animation. The following is a small detail
of their group companies:
S.B. Distributors Limited.: This unit represents various chemical and
pharmaceutical companies like Gujarat Alkalies and Chemicals Limited., Gujarat Narmada
Valley Fertilizers and Chemicals Limited., etc. It is also engaged in the
import of various chemicals, solvents, polymers, drug intermediates. The
company provides value services to chemical, paper, pharmaceutical, pesticide,
and other industries.
S.B. Organics Limited: One of the largest producers of Guanidine
Nitrate in the world. Also producing Guanidine Carbonate and Potassium Nitrate.
S.B. Consumer Products: Engaged in the manufacture and marketing of
Mosquito Coil under the brand name Hero.
Green Gold Animation Private Limited.: High-end
animation studio capable of producing 2D and 3D animations for TV serials and
films. Currently producing the highly popular children's TV serial Bongo.
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 |
6 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
|
|
30 |
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.