1. Summary Information
|
|
|
Country |
|
|
Company Name |
Tuflite Polymers
Limited |
Principal Name 1 |
Mr. Shashikant Hargovindas Shah |
|
Status |
Moderate |
Principal Name 2 |
Mrs. Indira Shashikant Shah |
|
|
|
Registration # |
08-23272 |
|
Street Address |
No. 240/1,
Ganesh Krupa, 18th Cross, Sadashiva Nagar, |
||
|
Established Date |
15.01.1998 |
SIC Code |
-- |
|
Telephone# |
91-80-40063000 /
42525261 / 23608926 / 42525252 |
Business Style 1 |
Manufacturing |
|
Fax # |
91-80-42525270 |
Business Style 2 |
Supplying |
|
Homepage |
-- |
Product Name 1 |
Corrugated Sheets |
|
# of employees |
Not Available |
Product Name 2 |
Scratch Resistant Sheets |
|
Paid up capital |
Rs.500,000/- |
Product Name 3 |
Plastic Polymers |
|
Shareholders |
Directors or relatives of directors (100%) |
Banking |
Citi Bank N A |
|
Public Limited Corp. |
No |
Business Period |
13 Years |
|
IPO |
No |
International Ins. |
- |
|
Public |
No |
Rating |
B (28) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
-- |
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2010 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
10,934,000 |
Current Liabilities |
14,784,000 |
|
Inventories |
6,591,000 |
Long-term Liabilities |
300,000 |
|
Fixed Assets |
220,000 |
Other Liabilities |
000 |
|
Deferred Assets |
1,000 |
Total Liabilities |
15,084,000 |
|
Invest& other Assets |
000 |
Retained Earnings |
1,915,000 |
|
|
|
Net Worth |
2,662,000 |
|
Total Assets |
17,746,000 |
Total Liab. & Equity |
17,746,000 |
|
Total Assets (Previous Year) |
6,017,000 |
|
|
|
P/L Statement as of |
31.03.2010 |
(Unit: Indian Rs.) |
|
|
Sales |
7,383,000 |
Net Profit |
320,000 |
|
Sales(Previous yr) |
40,980,000 |
Net Profit(Prev.yr) |
307,000 |
MIRA INFORM
REPORT
|
Report Date : |
02.07.2011 |
IDENTIFICATION DETAILS
|
Name : |
TUFLITE POLYMERS LIMITED (w.e.f. 11.02.2009) |
|
|
|
|
Formerly Known
As : |
SHAH POLYMERS EXIM LIMITED |
|
|
|
|
Registered
Office : |
No. 240/1, Ganesh Krupa, 18th Cross, Sadashiva Nagar, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2010 |
|
|
|
|
Date of
Incorporation : |
15.01.1998 |
|
|
|
|
Com. Reg. No.: |
08-23272 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.0.500 million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U25200KA1998PLC023272 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
BLRS15791G |
|
|
|
|
PAN No.: [Permanent Account No.] |
AACCS0373F |
|
|
|
|
Legal Form : |
A closely held public limited liability company |
|
|
|
|
Line of Business
: |
Manufacturer and Supplier of Corrugated Sheets, Scratch Resistant
Sheets, Plastic Polymers, Advertising Materials, Sheets and Aluminium Glazing
Profiles. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (28) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 11000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having moderate track. There appears
some dip in turnover of the company. 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 |
LOCATIONS
|
Registered Office : |
No. 240/1, Ganesh Krupa, 18th Cross, Sadashiva Nagar, |
|
Tel. No.: |
91-80-40063000 / 42525261 / 23608926 / 42525252 |
|
Mobile No.: |
91-9845212239 (Mr. Mayur Bhagat)
|
|
Fax No.: |
91-80-42525270 |
|
E-Mail : |
DIRECTORS
As on 30.09.2010
|
Name : |
Mr. Shashikant Hargovindas Shah |
|
Designation : |
Director |
|
Address : |
No. 1, Ashirwad, 1st Main, 1st Block, Rajmahal
Vilas, 2nd Stage, |
|
Date of Birth/Age : |
03.11.1941 |
|
Date of Appointment : |
15.01.1998 |
|
DIN No. : |
00403048 |
|
|
|
|
Name : |
Mrs. Indira Shashikant Shah |
|
Designation : |
Director |
|
Address : |
No. 1, Ashirwad, 1st Main, 1st Block, Rajmahal
Vilas, 2nd Stage, |
|
Date of Birth/Age : |
03.09.1944 |
|
Date of Appointment : |
30.09.2000 |
|
|
|
|
Name : |
Mr. Deepak Shah |
|
Designation : |
Director |
|
Address : |
No. 1, Ashirwad, 1st Main, 1st Block, Rajmahal
Vilas, 2nd Stage, |
|
Date of Birth/Age : |
04.09.1966 |
|
Date of Appointment : |
15.01.1998 |
|
DIN No. : |
00403238 |
|
|
|
|
Name : |
Mr. Mukeshkumar Shashikant Shah |
|
Designation : |
Director |
|
Address : |
No. 1, Ashirwad, 1st Main, 1st Block, Rajmahal
Vilas, 2nd Stage, |
|
Date of Birth/Age : |
02.10.1964 |
|
Date of Appointment : |
15.01.1998 |
|
DIN No. : |
01251401 |
|
|
|
|
Name : |
Mrs. Divya Deepak Shah |
|
Designation : |
Director |
|
Address : |
No. 1, Ashirwad, 1st Main, 1st Block, Rajmahal
Vilas, 2nd Stage, |
|
Date of Birth/Age : |
02.08.1967 |
|
Date of Appointment : |
30.09.2000 |
|
|
|
|
Name : |
Mrs. Neeta Mukesh Shah |
|
Designation : |
Director |
|
Address : |
No. 1, Ashirwad, 1st Main, 1st Block, Rajmahal
Vilas, 2nd Stage, |
|
Date of Birth/Age : |
16.10.1966 |
|
Date of Appointment : |
30.09.2000 |
|
DIN No. : |
01596604 |
|
|
|
|
Name : |
Mr. Tushar Ganatra |
|
Designation : |
Additional Director |
|
Address : |
Flat # 302, Aasiyana Apartments, # 47/10, 6th A Cross, RMV
Extension, |
|
Date of Birth/Age : |
26.09.1976 |
|
Date of Ceasing: |
30.03.2011 |
|
DIN No. : |
03194957 |
|
|
|
|
Name : |
Mrs. Priti Ganatra |
|
Designation : |
Additional Director |
|
Address : |
Flat # 302, Aasiyana Apartments, # 47/10, 6th A Cross, RMV
Extension, |
|
Date of Birth/Age : |
08.08.1978 |
|
Date of Ceasing: |
30.03.2011 |
|
DIN No. : |
03268584 |
|
|
|
|
Name : |
Mr. Kabra Anuj Vinod |
|
Designation : |
Additional Director |
|
Address : |
302, Mid Way Premises Co-Operative Society Limited, Appa Saheb Marathe
Marg, Prabhadevi, Mumbai – 400 025, |
|
Date of Birth/Age : |
24.07.1978 |
|
Date of Ceasing: |
30.03.2011 |
|
DIN No. : |
03314264 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2010
|
Names of Shareholders |
|
No. of Shares |
|
Mukeshkumar Shashikant Shah |
|
617100 |
|
Deepak Shah |
|
24750 |
|
Shashikant Hargovindas Shah |
|
250100 |
|
Indira Shashikant Shah |
|
300100 |
|
Neeta Mukesh Shah |
|
330100 |
|
Divya Deepak Shah |
|
100 |
|
T R Sundar |
|
100 |
|
Nupur Shah |
|
150000 |
|
Total |
|
1672350 |
List of Allottees
(As on 23.03.2011)
|
Names of Shareholders |
|
No. of Shares |
|
Mukeshkumar Shashikant Shah |
|
500000 |
|
Indira Shashikant Shah |
|
240000 |
|
Neeta Shah |
|
270000 |
|
Nupur Shah |
|
40000 |
|
Total |
|
1050000 |
As on 30.09.2010
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Directors
or relatives of directors |
|
100.00 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Supplier of Corrugated Sheets, Scratch Resistant
Sheets, Plastic Polymers, Advertising Materials, Sheets and Aluminium Glazing
Profiles. |
||||
|
|
|
||||
|
Products : |
·
Corrugated Sheets ·
Scratch Resistant Sheets ·
Plastic Polymers ·
Advertising Materials ·
Optical Products ·
Structural Sheets ·
Profiles ·
|
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
||||||||||||
|
|
|
||||||||||||
|
Bankers : |
·
State Bank of ·
Standard Chartered Bank ·
The Karur Vysya Bank ·
Citi Bank N A 506-507, Level-5, Prestige Meridian-2, #
30, M |
||||||||||||
|
|
|
||||||||||||
|
Facilities : |
|
|
|
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|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Patel Mohan Ramesh and Company Chartered Accountant |
|
Address : |
# 163/1, 4th Main, 7th Cross, Chamrajpet, |
CAPITAL STRUCTURE
As on 30.09.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
5000000 |
Equity Shares |
Rs.10/- each |
Rs.50.000 millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
1672350 |
Equity Shares |
Rs.10/- each |
Rs.16.724
millions |
As on 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
5000000 |
Equity Shares |
Rs.10/- each |
Rs.50.000 millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
50000 |
Equity Shares |
Rs.10/- each |
Rs.0.500
million |
|
|
Add : Share application / Share deposit |
|
Rs.0.247
million |
|
|
Total |
|
Rs.0.747 million |
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 |
0.500 |
0.500 |
0.747 |
|
|
2] Share Application Money |
0.247 |
0.247 |
0.000 |
|
|
3] Reserves & Surplus |
1.915 |
1.595 |
1.288 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
2.662 |
2.342 |
2.035 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
0.300 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
0.300 |
0.000 |
0.000 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
2.962 |
2.342 |
2.035 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
0.220 |
0.250 |
0.284 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.001 |
0.002 |
0.003 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
6.591
|
1.611 |
8.537 |
|
|
Sundry Debtors |
6.911
|
0.714 |
3.531 |
|
|
Cash & Bank Balances |
2.074
|
2.138 |
0.401 |
|
|
Other Current Assets |
1.479
|
0.848 |
16.230 |
|
|
Loans & Advances |
0.470
|
0.454 |
0.092 |
|
Total
Current Assets |
17.525
|
5.765 |
28.791 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
14.724
|
2.696 |
8.421 |
|
|
Other Current Liabilities |
0.005
|
0.378 |
18.616 |
|
|
Provisions |
0.055
|
0.601 |
0.006 |
|
Total
Current Liabilities |
14.784
|
3.675 |
27.043 |
|
|
Net Current Assets |
2.741
|
2.090 |
1.748 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
2.962 |
2.342 |
2.035 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
7.383 |
40.980 |
43.802 |
|
|
|
Other Income |
0.024 |
0.256 |
0.399 |
|
|
|
TOTAL (A) |
7.407 |
41.236 |
44.201 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Net Purchase / Consumption |
10.681 |
32.749 |
42.713 |
|
|
|
Manufacturing Expenses and Direct Expenses |
0.000 |
0.012 |
0.093 |
|
|
|
Administrative, Selling and Other Expenses |
1.199 |
1.056 |
0.859 |
|
|
|
Increase / (Decrease) in Stock |
(4.980) |
6.926 |
0.000 |
|
|
|
TOTAL (B) |
6.900 |
40.743 |
43.665 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
0.507 |
0.493 |
0.536 |
|
|
|
|
|
|
|
|
|
Less |
INTEREST AND
OTHER FINANCE CHARGES (D) |
0.002 |
0.007 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
0.505 |
0.486 |
0.536 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
0.030 |
0.034 |
0.039 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
0.475 |
0.452 |
0.497 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
0.155 |
0.145 |
0.154 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
0.320 |
0.307 |
0.343 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
1.595 |
1.288 |
0.945 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
1.915 |
1.595 |
1.288 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
-- |
-- |
7.00 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
4.32
|
0.74 |
0.78 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
6.43
|
1.10 |
1.13 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.68
|
7.51 |
1.71 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.18
|
0.19 |
0.24 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
5.67
|
1.57 |
13.29 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.19
|
1.57 |
1.06 |
LOCAL AGENCY FURTHER INFORMATION
Bankers Charges
Report as per Registry
|
Corporate identity number of the company |
U25200KA1998PLC023272 |
|
Name of the company |
TUFLITE POLYMERS LIMITED |
|
Address of the registered office or of the principal place of business in |
No. 240/1, Ganesh Krupa, 18th Cross, Sadashiva Nagar, |
|
This form is for |
Creation of charge |
|
Type of charge |
·
Book debts ·
Movable property (not being pledge) ·
Others o
Stocks etc. |
|
Particular of charge holder |
Citi Bank N A 506-507, Level-5, Prestige Meridian-2, # 30, M |
|
Nature of instrument creating charge |
Goods Security Agreement |
|
Date of instrument Creating the charge |
17.09.2010 |
|
Amount secured by the charge |
Rs.47.000 millions |
|
Brief of the principal terms an conditions and extent and operation of
the charge |
Rate of Interest As agreed from Time to Time Terms of Repayment Repayable On Demand Margin As agreed from Time to Time Extent and Operation of the charge First Charge |
|
Short particulars of the property or asset(s) charged (including
complete address and location of the property) |
·
The whole of the borrower's present and future stocks
of raw materials, goods in process of manufacture, semi-finished goods and
all finished and manufactured goods and articles together with all ·
Stores, components and spares at the borrower's factory,
godowns and/or their premises wherever the same may be situated, ·
All of the borrower's present and future book
debts, outstanding monies, receivables, claims, bills, investments, rights to
or in movable properties and movable assets forming part of current assets |
FIXED ASSETS
·
Computer
·
Electrical Equipment and Installations
·
Furniture and Fittings
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.44.59 |
|
|
1 |
Rs.71.75 |
|
Euro |
1 |
Rs.64.80 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
2 |
|
--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 |
NO |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
28 |
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.