MIRA
INFORM REPORT
|
Report Date : |
22.01.2011 |
IDENTIFICATION DETAILS
|
Name : |
RAJIT PAINTS LIMITED (w.e.f. 19.09.1987) |
|
|
|
|
Formerly Known As : |
RAJIT PAINT PRODUCTS INDIA PRIVATE LIMITED |
|
|
|
|
Registered Office : |
Gill Road, Ludhiana-141116, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.03.2009 |
|
|
|
|
Date of Incorporation : |
13.06.1985 |
|
|
|
|
Com. Reg. No.: |
16-006310 |
|
|
|
|
CIN No.: [Company
Identification No.] |
U24221PB1985PLC006310 |
|
|
|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
JLDR01376E |
|
|
|
|
PAN No.: [Permanent
Account No.] |
AAACR7584D |
|
|
|
|
Legal Form : |
A closely held Public Limited Liability Company |
|
|
|
|
Line of Business : |
Manufacturer of Paints |
RATING & COMMENTS
|
MIRA’s Rating : |
B (29) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 720000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a well established and a reputed company having moderate
track. Trade Relations are reported as fair. Business is active. Payments are
reported to be slow. 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 (GENERAL DETAILS)
|
Name : |
Mr. Rohit |
|
Designation : |
Director |
|
Contact No.: |
91-9815622700 |
LOCATIONS
|
Registered Office : |
Gill Road, Ludhiana-141116, |
|
Tel. No.: |
91-161-2563778 |
|
Mobile No.: |
91-9815622700 (Mr. Rohit, Director) |
|
Fax No.: |
91-161-2563678 |
|
E-Mail : |
|
|
Websites : |
|
|
Location : |
Owned |
|
|
|
|
Corporate Office : |
102, Vikas Nagar, |
|
Tel. No.: |
91-161-2563978/2563778/ 6611500 |
|
Fax No.: |
91-161-2563678 |
|
Location : |
Owned |
|
|
|
|
Sales Office : |
B-23, Phase-II, Focal Point, |
|
Tel. No.: |
91-161-4646174/ 5087637/ 6500102/ 650106 |
|
E mail: |
|
|
|
|
|
Factory 1 : |
|
|
Tel. No.: |
91-1675-244730/731/ 661700/ 661701/ 661712/ 661711 |
|
Fax No.: |
91-1675-244229/ 661777 |
|
E-Mail : |
|
|
|
|
|
Branches : |
Located at: ·
·
Pune ·
Gurgaon ·
·
Hosur |
DIRECTORS
As on 30.09.2009
|
Name : |
Mr. Rajit Mehra |
|
Designation : |
Director |
|
Address : |
1099, Opposite Chattar Singh Park, |
|
Date of Appointment : |
01.01.2001 |
|
|
|
|
Name : |
Mr. Rakesh Mehra |
|
Designation : |
Managing Director |
|
Address: |
1099, Opposite Chattar Singh Park, |
|
Date of Appointment : |
13.06.1985 |
|
|
|
|
Name : |
Mrs. Preeti Mehra |
|
Designation : |
Director |
|
Address: |
1099, Opposite Chattar Singh Park, |
|
Date of Appointment : |
01.04.2002 |
|
|
|
|
Name : |
Mr. Rajesh Mehra |
|
Designation : |
Director |
|
Address: |
1099, Opposite Chattar Singh Park, |
|
Date of Appointment : |
06.01.2003 |
|
|
|
|
Name : |
Mr. Ajay Nagrath |
|
Designation : |
Director |
|
Address: |
2840, Gurdev Nagar, |
|
Date of Appointment : |
13.06.1985 |
|
|
|
|
Name : |
Mrs. Kusum Nagrath |
|
Designation : |
Director |
|
Address: |
B-XXI/ 2840, Gurdev Nagar, |
|
Date of Appointment : |
13.06.1985 |
|
|
|
|
Name : |
Mr. Rohit Nagrath |
|
Designation : |
Director |
|
Address: |
B-XXI/ 2840, Gurdev Nagar, |
|
Date of Appointment : |
06.01.2003 |
|
|
|
|
Name : |
Mrs. Rita Mehra |
|
Designation : |
Director |
|
Address: |
Opposite |
|
Date of Appointment : |
13.06.1985 |
|
|
|
|
Name : |
Ms. Arvinder Kaur |
|
Designation : |
Additional Director |
|
Address: |
510- R, |
|
Date of Birth/ Age: |
06.11.1974 |
|
Date of Ceasing: |
26.11.2006 |
|
|
|
|
Name : |
Mrs. Geetika Kapoor |
|
Designation : |
Whole Time Director |
|
Address: |
D-216, Ashok Vihar-I, Delhi-110052, |
|
Date of Birth/ Age: |
19.08.1982 |
|
Date of Ceasing: |
15.10.2007 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2009
|
Names of Shareholders |
|
No. of Shares |
|
Rakesh Mehra |
|
380450 |
|
Kusum Nagrath |
|
7390 |
|
Rita Mehra |
|
26730 |
|
Ajay Nagrath |
|
59200 |
|
Rajesh Mehra |
|
21370 |
|
Narinder Nagrath |
|
1450 |
|
Rohit Nagrath |
|
39640 |
|
Rajit Mehra |
|
67400 |
|
Ridhi Mehra |
|
500 |
|
Rahat Mehra |
|
192840 |
|
Neetu Mehra |
|
4500 |
|
Ritu Sood |
|
1450 |
|
Saloni Kohli |
|
200 |
|
Pindi Painte Corporation, |
|
25200 |
|
PAR Chemicals Private Limited, |
|
53500 |
|
Preeti Mehra |
|
19250 |
|
Cotton Manufacturing corporation, |
|
4950 |
|
Geeta Nagarth |
|
2300 |
|
Ajay Nagrath HUF |
|
1400 |
|
Narinder Nagrath HUF |
|
1550 |
|
Rohit Nagrath HUF |
|
1400 |
|
Rajit Milk Limited, |
|
248000 |
|
Nitin Darshan Mehra |
|
15000 |
|
Rimpy Nagrath |
|
4050 |
|
Aolk Bhadury |
|
1600 |
|
P R Chatterjee |
|
500 |
|
Arti Mehra |
|
1000 |
|
Anju Ahuja |
|
750 |
|
Jyoti Kapoor |
|
500 |
|
Neena Mehra |
|
980 |
|
Prem Mehra |
|
1000 |
|
Pushpa Vohra |
|
1000 |
|
Seem Dhanda |
|
500 |
|
Shanta Kohli |
|
1000 |
|
Sharda Dhanda |
|
500 |
|
Sunita Kohil |
|
750 |
|
Devan Mehra |
|
1700 |
|
Geelika Mehra |
|
6500 |
|
Geetanjay Nagrath |
|
2000 |
|
Total |
|
1200000 |
As on 28.09.2010
|
List of Allottees |
|
No. of Shares Allotted |
|
Rakesh Mehra |
|
111060 |
|
Rita Mehra |
|
1000 |
|
Neetu Mehra |
|
5500 |
|
Ridhi Mehra |
|
1500 |
|
Kusum Nagrath |
|
1620 |
|
Rohit Nagarath |
|
13100 |
|
Rimpy Nagrath |
|
1170 |
|
Geeta Nagrath |
|
5050 |
|
Total |
|
140000 |
Equity Share Break up as on 30.09.2009
|
Category |
Percentage |
|
Directors or
relatives of Directors |
71.63 |
|
Bodies corporate |
25.13 |
|
Other top fifty shareholders |
3.24 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Paints |
||||||||
|
|
|
||||||||
|
Products : |
Paints
And Topcoats
Primers
/ Undercoats
Metalbond
Power Coatings
Rel
Pretreatment Chemicals
Thinners
|
GENERAL INFORMATION
|
Customers : |
|
|||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||
|
No. of Employees : |
Approximately 200 (In Office 20, In Factory 170, In Branches - 10) |
|||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||
|
Bankers : |
|
|||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||
|
Facilities : |
|
|||||||||||||||||||||||||||||||||
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Raj Gupta And Company Chartered Accountant |
|
Address : |
|
|
Tel. No.: |
91-161-2530089/ 4623089 |
CAPITAL STRUCTURE
As on 30.09.2009
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1400000 |
Equity Shares |
Rs.100/- each |
Rs. 140.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
|
|
|
|
1340000 |
Equity Shares |
Rs.100/- each |
Rs. 134.000 Millions |
||
As on 31.03.2009
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1200000 |
Equity Shares |
Rs.100/- each |
Rs. 120.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
|
|
|
|
1200000 |
Equity Shares |
Rs.100/- each |
Rs. 120.000 Millions |
||
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2009 |
31.03.2008 |
31.03.2007 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
120.000 |
60.000 |
60.000 |
|
|
2] Share Application Money |
11.498 |
57.550 |
28.500 |
|
|
3] Reserves & Surplus |
48.535 |
35.684 |
25.459 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
180.033 |
153.234 |
113.959 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
221.815 |
197.401 |
184.653 |
|
|
2] Unsecured Loans |
20.000 |
20.000 |
20.000 |
|
|
TOTAL BORROWING |
241.815 |
217.401 |
204.653 |
|
|
DEFERRED TAX LIABILITIES |
21.396 |
19.573 |
14.158 |
|
|
|
|
|
|
|
|
TOTAL |
443.244 |
390.208 |
332.770 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
102.741 |
99.599 |
87.369 |
|
|
Capital work-in-progress |
2.858 |
0.094 |
0.774 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.500 |
0.500 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
194.772
|
180.405 |
155.602
|
|
|
Sundry Debtors |
190.279
|
151.869 |
133.857
|
|
|
Cash & Bank Balances |
7.084
|
7.282 |
9.139
|
|
|
Other Current Assets |
0.000
|
0.000 |
0.000
|
|
|
Loans & Advances |
22.872
|
17.704 |
13.081
|
|
Total
Current Assets |
415.007
|
357.260 |
311.679
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
52.365
|
44.322 |
45.384
|
|
|
Other Current Liabilities |
19.694
|
18.445 |
18.442
|
|
|
Provisions |
5.803
|
4.478 |
3.226
|
|
Total
Current Liabilities |
77.862
|
67.245 |
67.052
|
|
|
Net Current Assets |
337.145
|
290.015 |
244.627
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
443.244 |
390.208 |
332.770 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2009 |
31.03.2008 |
31.03.2007 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
831.382 |
736.272 |
614.290 |
|
|
|
Other Income |
1.053 |
1.173 |
6.881 |
|
|
|
TOTAL (A) |
832.435 |
737.445 |
621.171 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials |
626.430 |
580.578 |
474.329 |
|
|
|
Manufacturing Expenses |
56.167 |
44.955 |
35.584 |
|
|
|
Personnel Expenses |
30.361 |
23.979 |
16.751 |
|
|
|
Administrative Expenses |
28.841 |
26.542 |
25.469 |
|
|
|
Selling Expenses |
16.269 |
8.981 |
7.510 |
|
|
|
Excise Duty |
16.324 |
21.352 |
19.074 |
|
|
|
TOTAL (B) |
774.392 |
706.387 |
578.717 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
58.043 |
51.058 |
42.454 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
29.945 |
26.953 |
21.513 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
28.098 |
24.105 |
20.941 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
8.430 |
7.900 |
8.305 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
19.668 |
16.205 |
12.636 |
|
|
|
|
|
|
|
|
|
Less |
TAX (I) |
6.187 |
5.209 |
9.301 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-I) (J) |
13.481 |
10.996 |
3.335 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
35.015 |
24.790 |
9.580 |
|
|
|
Adjustment
for Depreciation |
0.000 |
0.000 |
12.022 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Prior Period Adjustment |
0.000 |
0.070 |
0.026 |
|
|
|
Tax Adjustment for Earlier Years |
0.630 |
0.701 |
0.121 |
|
|
BALANCE CARRIED TO
THE B/S |
47.766 |
35.015 |
24.790 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
|
|
|
|
|
|
Basic |
11.23 |
18.33 |
4.76 |
|
|
|
Diluted |
19.67 |
18.33 |
4.76 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2009 |
31.03.2008 |
31.03.2007 |
|
PAT / Total Income |
(%) |
1.62
|
1.49 |
1.56
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
2.37
|
2.20 |
2.06
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
3.80
|
3.55 |
3.17
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.11
|
0.11 |
0.11
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.39
|
1.86 |
2.38
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
5.33
|
5.31 |
4.65
|
LOCAL AGENCY FURTHER INFORMATION
Operations:
Fixed Assets:
- Land
- Building and
Tube Well
- Furniture and
Fixture
- Plant and
Machinery
- Office
Equipment
- Vehicles
Form 8 :
|
This form is for |
Modification of charge |
|
Charge
identification number of the modified |
90167512 |
|
Corporate
identity number of the company |
U24221PB1985PLC006310 |
|
Name of the
company |
Rajit Paints Limited |
|
Address of the
registered office or of the principal place of business in |
Gill Road, |
|
Type of charge |
Book Debts Movable Property
(Met being pledge) Immovable property |
|
Particular of
charge holder |
State Bank Of Address: S.C.B. Miller Ganj, Ludhiana-141003, Email: sparshtk@gmail.com |
|
Nature of description
of the instrument creating or modifying the charge |
1. Sanction Letter 2. Agreement Of Loan For Overall Limit (C-1) 3.Agreement Of Hypothecation Of Goods And Assets (C-2) 4. Letter Regarding The Grant Of Individual Limits Within The Overall Limit.(C-5) |
|
Date of
instrument Creating the charge |
22.12.2008 |
|
Amount secured by
the charge |
Rs.247.200 Millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest 13.00% Terms of Repayment Repayable On Demand, Except Term Loan Margin 1. Raw Material Imp./Indg.& Spares 25% 2. Stock In Process 25% 3. Finished Goods 25% 4. Receivables 40% 5.LC/BG 15% Extent And Operation Of The Charge Extent And Operation Of The Charge Is 100% Others NIL |
|
Short particulars
of the property charged |
PRIMARY: WORKING CAPITAL: First charge on entire current assets of the company. Term Loans:- First charge on fixed assets of the company
by way of:-i EM of Factory Land & Building measuring 6085, Yds., Khasra
No. 1301/73-1303/77-74-991/75-993/76 Khata No. 44/126-42/130-45/129, situated
at |
|
Particulars of
the present modification |
Total credit facilities to Rs. 247.200 Millions. Other terms and conditions remain the same. |
Website Details:
Company Profile:
Subject was incorporated in the year 1985. it is an ISO 9000
: 2000 certified Company and is one of the pioneers in the manufacturing
of novelty paints for bicycle and has customers for such paints in various
parts of the globe. With the passage of time the company endeavored in to the
manufacturing of paints for the automotive segments and has various
reputed manufacturers of motor cycle, two wheelers, tractors and reputed
automotive ancillaries of the country in its portfolio. Constant research and
development as well as product innovation has been a key stone to the success
story of Subject.
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.45.70 |
|
|
1 |
Rs.72.78 |
|
Euro |
1 |
Rs.61.65 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
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 |
2 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
29 |
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.