MIRA
INFORM REPORT
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Report Date : |
01.07.2011 |
IDENTIFICATION DETAILS
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Name : |
ANUPAM INDUSTRIES LIMITED |
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Registered
Office : |
138, GIDC, Vithal Udhyog Nagar, Vallabh Vidyanagar, district Anand– 388121, |
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Country : |
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Financials (as
on) : |
31.03.2011 (Provisional) |
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Date of
Incorporation : |
29.10.1998 |
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Com. Reg. No.: |
04-034888 |
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Capital
Investment / Paid-up Capital : |
Rs.437.943 Millions |
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CIN No.: [Company Identification
No.] |
u29199gj1998plc034888 |
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Legal Form : |
A Closely held Public Limited Liability Company. |
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Line of Business
: |
Manufacturer of Eot Cranes And Galiath Cranes |
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No. of Employees
: |
1500 (Approximately) |
RATING & COMMENTS
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MIRA’s Rating : |
Ba (52) |
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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 5630064 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a well established company having fine track. General financial
position is good. Trade relations are reported as fair. Business is active.
Payments are reported to be 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.
INFORMATION PARTED BY
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Name : |
Mr. Gokul D Bagul |
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Designation : |
Assistant Manager Accounts |
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Date : |
30.06.2011 |
LOCATIONS
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Registered Office : |
138, GIDC, Vithal Udhyog Nagar, Vallabh Vidyanagar, district Anand – 388121, |
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Tel. No.: |
91-2692-236118 |
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Mobile No.: |
91-9998568151 (Mr. Gokul D Bagul) |
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Fax No.: |
91-2692-236324 |
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E-Mail : |
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Website : |
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Area : |
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Location : |
Leased |
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Unit II: |
Plot 1210-1213, 1313 P, GIDC, Vithal Udyognagar – 388 121 |
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Unit III: |
Plot 199, 200, 201 A GIDC, Vithal Udyognagar – 388 121 |
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Unit IV: |
Nadiad – |
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Unit V: |
1804/1, 1805/1, 2 and 3, GIDc,
Vithal Udyognagar – 388 121 |
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Branch Office : |
Chennai Office G-4, Alsa Towers, 186-187, Poonamalee High Road, Kipauk, Chennai –600010, Tamil Telefax - 91-44-25321182 Mumbai Office Talafax – 91-22-25421020 Kolkata Office B-38, 1st Floor, Telefax – 91-33-40054381 KM-123, New Kavi Nagar, Gaziabad – 201002, House No. 28, Road No. 28, Hawai nagar, |
DIRECTORS
AS ON 25.09.2010
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Name : |
Mr. Jagdishchandra Chhotalal Patel |
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Designation : |
Chairman |
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Address : |
Anupam Nana Bazar, Vallabh Vidyanagar – 388 001, |
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Date of Birth/Age : |
06.01.1940 |
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Date of Appointment : |
29.10.1998 |
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Name : |
Mr. Mehul Jagdishchandra Patel |
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Designation : |
Managing Director |
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Address : |
Anupam Nana Bazar, Vallabh Vidyanagar – 388 001, |
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Date of Birth/Age : |
17.07.1969 |
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Date of Appointment : |
29.10.1998 |
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Name : |
Ms. Shreya Mehul Patel |
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Designation : |
Executive Director |
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Address : |
Anupam Nana Bazar, Vallabh Vidyanagar – 388 001, |
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Date of Birth/Age : |
13.12.1969 |
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Date of Appointment : |
29.10.1998 |
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Name : |
Mr. Bharat Banka |
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Designation : |
Director |
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Address : |
4/B-164, Kalpataru Estate Bldg 4 CHS Ltd, Jog Vik Link Road, Behind
Poonam Nagar, Jogeshwari Opp ONGC Clny, Mumbai-400060, Maharashtra, India |
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Date of Birth/Age : |
22.09.1969 |
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Date of Appointment : |
15.02.2010 |
KEY EXECUTIVES
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Name : |
Mr. Gokul D Bagul |
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Designation : |
Assistant Manager Accounts |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 25.09.2010
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Names of Shareholders |
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No. of Shares |
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Equity Shares |
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Mehul J. Patel |
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3193975 |
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Jagdishchandra Patel |
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187997 |
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Nlmlt J Patel |
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4392 |
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Shreyam Patel |
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410452 |
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Meena N. Patel |
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4392 |
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Kuntal J Patel |
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2938 |
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P Patel |
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40 |
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Veena P Patel |
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40 |
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Aditya Birla Private Equity Trust A/C
Aditya Birla Private Equity Fund 1 |
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100 |
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Total |
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3804326 |
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Convertible
Preference Shares |
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Aditya Birla Private Equity Trust A/C
Aditya Birla Private Equity Fund 1 |
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399900 |
AS ON 25.09.2010
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Category |
Percentage |
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Directors or relatives of Directors |
100.00 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of Eot Cranes And Galiath Cranes |
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Exports : |
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Products : |
Eot Cranes |
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Countries : |
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Imports : |
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Products : |
Raw Material |
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Countries : |
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Terms : |
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Selling : |
L/C |
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Purchasing : |
L/C, Credit |
PRODUCTION STATUS AS ON 31.03.2010
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Particulars |
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Licensed
Capacity |
Installed
Capacity |
Actual
Production |
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EOT Cranes |
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NA |
350 In Tonnes :
33000 |
185 |
GENERAL INFORMATION
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Customers : |
Manufacturer |
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No. of Employees : |
1500 (Approximately) |
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Bankers : |
· Axis Bank, V V Nagar, Anand · ICICI Bank, V V Nagar, Anand ·
State Bank of · HDFC bank, Ahmedabad Branch ·
Standard chartered
Bank, · Barclays Bank PLc ·
The Anand Mercantile Co-Op Bank Limited,
Mercantile, Maharshi Dayanand Marg, Anand-388001, |
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Facilities : |
Notes: 1.Long Term Loans : Secured by a first charge by way of Equitable Mortgage over Company's fixed assets except for assets at Nadrad and second charge by way of hypothecation over all current assets except the current assets pertaining to SAll ( IISCO. Burnpur I projecf of the Company 2.Working Capital
Loans : Secured by a first charge by way of hypothecation of present and future stock of raw materials stock-m-process, finished goods , spates book debts, outstanding invoices, receivables except the current assets pertaining to SAIL ( IISCO Burnpur I project and collaterally secured by second pari passu charge over all bxed assets except fixed assets a'. Nadrad ot the Company 3.Secured by hypothecation of the related vehicles 4.All secured loans, other than vehicle loans me secured by personal guarantee of three directors 5.Amount due within one year is Rs.61.042 Millions |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Deloitte Haskins And Sells Chartered Accountant |
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Address : |
Heritage, 3rd Floor, Near Gujarat Vidyapith, Off |
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Associates/Subsidiaries : |
Anupam Crane and Equipment Private Limited, GIDC, Anand |
CAPITAL STRUCTURE
AS ON 31.03.2010
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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4000000 |
Equity Shares |
Rs.10/- each |
Rs.40.000 Millions |
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500000 |
0.01% Convertible Preference Shares |
Rs.1000/- each |
Rs.500.000 Millions |
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Total |
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Rs.540.000
Millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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3804326 |
Equity Shares |
Rs.10/- each |
Rs.38.043
Millions |
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399900 |
0.01% Convertible Preference Shares |
Rs.1000/- each |
Rs.399.900
Millions |
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Total |
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Rs.437.943 Millions |
Notes:
1.The Authorized Share Capita! was increased to Rs.540.000 millions by creation of 500000 0.01% Convertible Preference Shares of face value of Rs.1000 each pursuant to a shareholders resolution passsd on 12th December. 2009
2. Effective 15tn February 2010 the issued Subscribed and Paid up capita increased to Rs.437.943 millions by allotment of 100 equity shares of Rs.10 each at a premium of Rs.990 Per Shares and 399900 0.01%Cumulative Preference Shares of Face Value of Rs.1000/- each.
CPS may be converted at any time before the- date on which the Company makes an lP0 or investor makes strategic sale of its stake The conversion rato, in terms of number of equity shares to be issued for each CPS is as per terms and conditions of agreement 'or issue* of CPS These shares would carry a fixed dividend of 0.01 % per annum.
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2011
(Provisional) |
31.03.2010 |
31.03.2009 |
31.03.2008 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
537.943 |
437.943 |
38.042 |
38.042 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
1275.316 |
969.573 |
528.949 |
302.554 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
0.000 |
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NETWORTH |
1813.259 |
1407.516 |
566.991 |
340.596 |
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LOAN FUNDS |
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1] Secured Loans |
1134.827 |
647.717 |
802.087 |
318.878 |
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2] Unsecured Loans |
40.186 |
32.536 |
7.713 |
100.337 |
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TOTAL BORROWING |
1175.013 |
680.253 |
809.800 |
419.215 |
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DEFERRED TAX LIABILITIES |
46.886 |
29.386 |
16.345 |
5.669 |
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TOTAL |
3035.158 |
2117.155 |
1393.136 |
765.480 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
635.892 |
567.611 |
372.118 |
129.875 |
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Capital work-in-progress |
217.087 |
0.340 |
32.913 |
119.383 |
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INVESTMENT |
19.900 |
19.900 |
1.219 |
1.219 |
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DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
1455.202
|
600.169
|
274.038 |
216.223 |
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Sundry Debtors |
1521.123
|
1668.520
|
1112.394 |
580.126 |
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Cash & Bank Balances |
82.946
|
197.011
|
111.870 |
57.094 |
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Other Current Assets |
0.000
|
0.000
|
0.000 |
0.000 |
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Loans & Advances |
564.768
|
301.734
|
115.392 |
40.067 |
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Total
Current Assets |
3624.039
|
2767.434
|
1613.694 |
893.510 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditors |
|
756.104
|
320.753 |
264.983 |
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Other Current Liabilities |
1099.194
|
263.649
|
201.055 |
100.578 |
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Provisions |
384.155
|
239.966
|
105.000 |
12.946 |
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Total
Current Liabilities |
1483.349
|
1259.719
|
626.808 |
378.507 |
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Net Current Assets |
2140.690
|
1507.715
|
986.886 |
515.003 |
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MISCELLANEOUS EXPENSES |
21.589 |
21.589 |
0.000 |
0.000 |
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TOTAL |
3035.158 |
2117.155 |
1393.136 |
765.480 |
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PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011
(Provisional) |
31.03.2010 |
31.03.2009 |
31.03.2008 |
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SALES |
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Income |
2925.187 |
2882.500 |
1939.609 |
1256.646 |
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Erection and Other Charges (TDS Rs.2.078 Millions) |
137.069 |
142.998 |
94.051 |
0.000 |
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Other Income |
7.142 |
6.935 |
2.120 |
5.327 |
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TOTAL (A) |
3069.398 |
3032.433 |
2035.780 |
1261.973 |
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Less |
EXPENSES |
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|
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|
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Increase in stock |
(84.133) |
(167.754) |
(1.376) |
(106.143) |
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|
Materials Consumed |
2059.702 |
1969.681 |
1307.621 |
895.592 |
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Manufacturing
Expenses |
93.496 |
66.566 |
63.565 |
35.502 |
|
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Employee Costs |
189.296 |
109.858 |
78.958 |
31.120 |
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Administration
& General Expenses |
92.213 |
94.371 |
62.318 |
67.514 |
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Selling and
Distribution Expenses |
80.759 |
84.367 |
67.078 |
0.015 |
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TOTAL (B) |
2431.333 |
2157.089 |
1578.162 |
923.600 |
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Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
638.065 |
875.344 |
457.618 |
338.373 |
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Less |
FINANCIAL
EXPENSES (D) |
124.223 |
139.012 |
105.345 |
52.990 |
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PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
513.842 |
736.332 |
352.273 |
285.383 |
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|
|
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|
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Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
46.316 |
40.644 |
9.062 |
4.093 |
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|
|
|
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PROFIT BEFORE TAX
(E-F) (G) |
467.526 |
695.688 |
343.211 |
281.290 |
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|
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Less |
TAX (I) |
161.783 |
255.130 |
116.816 |
95.634 |
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PROFIT AFTER TAX
(G-I) (J) |
305.743 |
440.558 |
226.395 |
185.656 |
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|
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Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
17.419 |
1.866 |
0.471 |
0.120 |
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|
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|
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Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
|
Transfer to General Reserve |
NA |
425.000 |
225.000 |
184.000 |
|
|
|
Short Provision for Tax |
NA |
0.000 |
0.000 |
1.305 |
|
|
|
Dividend |
NA |
0.004 |
0.000 |
0.000 |
|
|
|
Tax on Dividend |
NA |
0.001 |
0.000 |
0.000 |
|
|
BALANCE CARRIED
TO THE B/S |
NA |
17.419 |
1.866 |
0.471 |
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EARNINGS IN
FOREIGN CURRENCY |
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|
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Export Earnings |
NA |
0.000 |
13.805 |
1.405 |
|
|
TOTAL EARNINGS |
NA |
0.000 |
13.805 |
1.405 |
|
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
|
Raw Materials |
NA |
111.818 |
61.629 |
NA |
|
|
|
Capital Goods |
NA |
21.862 |
7.049 |
NA |
|
|
TOTAL IMPORTS |
NA |
133.68 |
68.678 |
NA |
|
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|
|
|
|
|
|
Earnings Per
Share (Rs.) |
-- |
115.80 |
59.51 |
-- |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
15.41
|
16.85 |
22.28 |
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|
Net Profit Margin (PBT/Sales) |
(%) |
25.54
|
18.16 |
22.70 |
|
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|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
22.07
|
17.73 |
27.88 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.52
|
0.62 |
0.83 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.37
|
2.15 |
2.34 |
|
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|
|
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|
Current Ratio (Current Asset/Current Liability) |
|
2.19
|
2.49 |
2.36 |
LOCAL AGENCY FURTHER INFORMATION
DETAILS OF SUNDRY
CREDITORS
(Rs.
In Millions)
|
Particulars |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
Sundry Creditors Micro Small And Medium Enterprises |
0.000 |
0.000 |
0.000 |
|
Others |
756.104 |
320.753 |
264.983 |
Trade References:
- Larsen And Turbo
- Reliance Industries Limited
- TISCO
OPERATIONAL AND
FINANCIAL REVIEW:
During the financial year 2009 - 10, the Company has achieved a record
turnover of Rs.3025.500 millions as against Rs.2033.700 millions signifying an
increase of nearly 49 % as compared to the previous year.
As a result of the significant growth in turnover, the company's Profit
before tax increased to Rs.695.700 millions in the year 2009 - 10 as against
Rs.343.200 millions during the corresponding previous year, which reflects an
increase of nearly 103 %, This could be achieved because of supply of higher value and capacity cranes
during the year 2009 - 10 as
compared to the year 2008 -09 and decrease in raw material consumption cost an
account of lower raw material prices. The Profit After Tax has correspondingly
increased from Rs.226.400 millions in the year 2008 - 09 to Rs.440.600 millions in 2009 - 10, signifying an increase of nearly 95 %
The financial year 2009 - 10 has been an exceptionally good year but the
high level of profits were achieved on account of several positive onetime
factors which may not be sustainable in future years.
FUTURE
OUTLOOK:
The Indian economy which went through the after effects of disturbed giobal situation got stabilized. The Company did not suffer any major adversity during the year as the core Power and Infrastructure sectors, where the company has major supplies, was not adversely affected. The manufacturing sector and more particularly, the steel sector which had shown signs of adverse impact, has now shown signs of revival. The revival in manufacturing sector has not resulted in any immediate large volume increase in order booking as there is always a "delayed impact" of any positive development on capital goods sector. Under the circumstances, the Company hopes to have a good order back log for F.Y. 7011 - 12 and 2012 -13.
For the current financial year 2010 - 11, with the order backlog, the management expects to achieve a 50 % growth in sales as compared to that achieved in the F.Y. 2009 - 10. The continued growth is expected in view of the considerable progress made during the last financial year in putting in place the required production facilities for Tower Cranes and standard crane kits and expansion in capacity for the regular EOT/Gantry crane segment.
The company has established dedicated manufacturing facilities for Tower Cranes at its Nadiad unit. The facilities being put up are planned with an initial production capacity of 170 cranes, capable of enhancement to 300 cranes per annum. In Rupee terms, it translates to an incremental sales volume up to Rs.1000.000 millions and Rs.1800.000 millions respectively.
Likewise, the progress achieved in standard cranes/modular crane kits and hoists will also contribute to the top line of the Company, in the range of Rs.500.000 millions.
form 8:-
|
Corporate identity
number of the company |
U29199GJ1998PLC034888 |
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|
Name of the
company |
ANUPAM INDUSTRIES LIMITED |
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|
Address of the
registered office or of the principal place of business in |
138 GIDC Vithal Udhyognagarvallabh Vidyanagar Dist, Anand, |
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|
This form is for |
Creation of
charge |
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|
Type of charge |
·
Movable property (not being pledge) ·
Others (Mobile Crane Model No. Ace 14 TON) |
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|
Particular of
charge holder |
|
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|
Nature of
instrument creating charge |
Vehicle Higher Purchase Loan Agreement Dated 06.01.2010 |
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|
Date of instrument
Creating the charge |
06.01.2010 |
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|
Amount secured by
the charge |
Rs. 0.839 million
|
||||||
|
.Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest Rate of Interest
@ 10.50% Per Annum Payable Monthly Terms Of
Repayment Monthly Emi Of
Rs. 0.027 million Payable In 36 Emi
Upto 31.01.2013 Margin 20% Margin On
Cost Of Vehicle |
||||||
|
Short particulars
of the property charged (Including location of the property) |
Mobile Crane
Model No. Ace 14 Ton At 138, Gidc
Vithhal Udyog Nagar - 388121 |
Fixed assets:-
· Land
· Building
· Plant and Machinery
· Electrical Installation
· Furniture and Fixtures
· Office Equipments
· Vehicles
· Computers
· air Conditioners
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.44.72 |
|
|
1 |
Rs.71.95 |
|
Euro |
1 |
Rs.64.79 |
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 |
6 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--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 |
|
52 |
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.