1. Summary Information
|
|
|
Country |
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Company Name |
DANTAL HYDRAULICS PRIVATE LIMITED |
Principal Name 1 |
Mr. Sanjay Talwar |
|
Status |
Satisfactory |
Principal Name 2 |
Mr. Narinder Singh Bopara |
|
|
|
Registration # |
55-39084 |
|
Street Address |
B – 172, Saraswati Vihar, |
||
|
Established Date |
01.02.1990 |
SIC Code |
-- |
|
Telephone# |
91-11-26213806 |
Business Style 1 |
Manufacturer |
|
Fax # |
91-11-26476089 |
Business Style 2 |
-- |
|
Homepage |
Product Name 1 |
Hydraulic Cylinders a |
|
|
# of employees |
100
(Approximately) |
Product Name 2 |
Hydraulic Systems |
|
Paid up capital |
Rs.
25,949,330/- |
Product Name 3 |
-- |
|
Shareholders |
Bodies corporate (5.72%) Directors or relatives of
directors (94.28%) |
Banking |
Citi
Bank N.A. |
|
Public Limited Corp. |
NO |
Business Period |
21 Years |
|
IPO |
NO |
International Ins. |
- |
|
Public |
NO |
Rating |
Ba (48) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
CEO |
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2010 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
171,549,000 |
Current Liabilities |
143,244,000 |
|
Inventories |
103,860,000 |
Long-term Liabilities |
107,530,000 |
|
Fixed Assets |
248,073,000 |
Other Liabilities |
34,954,000 |
|
Deferred Assets |
000 |
Total Liabilities |
285,728,000 |
|
Invest& other Assets |
241,000 |
Retained Earnings |
212,046,000 |
|
|
|
Net Worth |
237,995,000 |
|
Total Assets |
523,723,000 |
Total Liab. & Equity |
523,723,000 |
|
Total Assets (Previous Year) |
416,976,000 |
|
|
|
P/L Statement as of |
31.03.2010 |
(Unit: Indian Rs.) |
|
|
Sales |
1,022,852,000 |
Net Profit |
67,756,000 |
|
Sales(Previous yr) |
946,292,000 |
Net Profit(Prev.yr) |
51,002,000 |
MIRA
INFORM REPORT
|
Report Date : |
07.07.2011 |
IDENTIFICATION DETAILS
|
Name : |
DANTAL HYDRAULICS PRIVATE LIMITED |
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Registered Office : |
B – 172, Saraswati Vihar, |
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Country : |
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Financials (as on) : |
31.03.2010 |
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Date of Incorporation : |
01.02.1990 |
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Com. Reg. No.: |
55-39084 |
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|
|
|
Capital
Investment/ Paid-up Capital: |
Rs. 25.949 Millions |
|
|
|
|
CIN No.: [Company
Identification No.] |
U74899DL1990PTC039084 |
|
|
|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
DELD06621G |
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PAN No.: [Permanent
Account No.] |
AAACD1006C |
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Legal Form : |
Private Limited Liability Company. |
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|
Line of Business : |
Manufacturing of Hydraulic Cylinders
and Hydraulic Systems for wide range of applications. |
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|
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|
No. of Employees: |
100
(Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (48) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 950000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having satisfactory track. Trade
relations are reported as fair. Business is active. Payments are reported to
be usually correct. And as per commitments. The company can be considered normal for business dealings at usual
trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – April 1, 2010
|
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 |
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Restricted |
C2 |
|
Off-credit |
D |
LOCATIONS
|
Registered Office : |
B – 172, Saraswati Vihar, |
|
Tel. No.: |
91-11-26213806 |
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Fax No.: |
91-11-26476089 |
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E-Mail : |
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Website : |
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Corporate Office1: |
806, |
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Tel. No.: |
91-11-26425036 / 26460755 / 26420903 / 26212806 |
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Fax No.: |
91-11-26476089 |
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E-Mail : |
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Corporate Office 2 / Factory1 : |
24, Udyog Vihar, Phase-IV, Gurgaon, Haryana – 122001, |
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Tel. No.: |
91-124-4586804 / 2347920 / 2347110 |
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Fax No.: |
91-124-2340875/ 4586822 |
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E mail: |
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Factory 2 : |
Plot No 50, Sector 3, IMT
Manesher Gurgaon-122050, |
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Tel. No.: |
91-124-4581800 / 2347110 |
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Fax No.: |
91-124-4369414 / 2347110 |
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E-Mail : |
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Sales and Services Network : |
Located at :
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DIRECTORS
As on 28.09.2010
|
Name : |
Mr. Sanjay Talwar |
|
Designation : |
Director |
|
Address : |
2 |
|
Date of Birth/Age : |
25.04.1959 |
|
Date of Appointment : |
10.07.1990 |
|
DIN No.: |
01066085 |
|
Other Directorship : |
·
Sparr Equipment Private Limited, ·
Sparr Drill Private Limited, ·
Super Drilling Private Limited, |
|
|
|
|
Name : |
Mr. Narinder Singh Bopara |
|
Designation : |
Director |
|
Address : |
114 Vthnpan Lok, Mayur Vihar – I, |
|
Date of Birth/Age : |
14.11.1963 |
|
Date of Appointment : |
27.07.1993 |
|
DIN No.: |
01066146 |
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Name : |
Mr. Naresh Malhotra |
|
Designation : |
Director |
|
Address : |
146 Nilgiri Apartments, Alarnanda, |
|
Date of Birth/Age : |
22.06.1957 |
|
Date of Appointment : |
16.08.1994 |
|
DIN No.: |
01066161 |
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|
|
|
Name : |
Mr. Sandeep Talwar |
|
Designation : |
Director |
|
Address : |
H – 44 C, Saket New |
|
Date of Birth/Age : |
02.02.1967 |
|
Date of Appointment : |
01.02.1990 |
|
DIN No.: |
01066178 |
|
|
|
|
Name : |
Mr. Poonam Talwar |
|
Designation : |
Director |
|
Address : |
2 South Park Apartments, kalkaji, |
|
Date of Birth/Age : |
15.07.1960 |
|
Date of Appointment : |
01.02.1990 |
|
DIN No.: |
01130682 |
|
|
|
|
Name : |
Mr. Viswanath Kausik |
|
Designation : |
Director |
|
Address : |
Gori Apartments, Block – A, J P Nagar, Phase – II, |
|
Date of Birth/Age : |
31.08.1948 |
|
Date of Appointment : |
09.05.2002 |
|
DIN No.: |
01066216 |
KEY EXECUTIVES
|
Name : |
Ms. Neetu Goel |
|
Designation : |
Secretary |
|
Address : |
MS – 3, Flat No. 506, Sector – 56, Kendriya Vihar, Gurgaon – 122001, |
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Date of Birth/Age : |
12.08.1978 |
|
Date of Appointment : |
01.09.2006 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 28.09.2010
|
Names of Shareholders |
|
No. of Shares |
|
Super Drilling Private Limited, |
|
148350 |
|
Sandeep Talwar |
|
53475 |
|
Poonam Talwar |
|
101225 |
|
Sanjay Talwar |
|
1491350 |
|
Naresh Malhotra |
|
144900 |
|
Narinder Singh Bopara |
|
648733 |
|
Vishwanath Kausik |
|
6900 |
|
Total |
|
2594933 |
Equity Share
Breakup (Percentage of Total Equity)
As on 30.09.2010
|
Category |
|
Percentage of
Holding |
|
Bodies corporate |
|
5.72 |
|
Directors or relatives of directors |
|
94.28 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing of Hydraulic
Cylinders and Hydraulic Systems for wide range of applications. |
|
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Products: |
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Brand Names : |
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|
Agencies Held : |
·
Danfoss A/S, ·
Danfoss Fluid Power Inc., ·
ZTS, ·
|
GENERAL INFORMATION
|
No. of Employees : |
100 (Approximately) |
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Bankers : |
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Facilities : |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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|
Name : |
Kuldeep And Associates Chartered Accountants |
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Address : |
S-335, |
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Collaborators : |
Danfoss A/S, |
CAPITAL STRUCTURE
As on 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
3500000 |
Equity Shares |
Rs. 10/- each |
Rs. 35.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
2594933 |
Equity Shares |
Rs. 10/- each |
Rs. 25.949 Millions |
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 |
25.949 |
25.949 |
25.949 |
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|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
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|
3] Reserves & Surplus |
212.046 |
153.397 |
108.467 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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|
NETWORTH |
237.995 |
179.346 |
134.416 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
107.530 |
110.422 |
110.241 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
0.293 |
|
|
TOTAL BORROWING |
107.530 |
110.422 |
110.534 |
|
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DEFERRED TAX LIABILITIES |
5.165 |
2.175 |
3.271 |
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|
|
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|
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TOTAL |
350.690 |
291.943 |
248.221 |
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|
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APPLICATION OF FUNDS |
|
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FIXED ASSETS [Net Block] |
248.073 |
141.401 |
139.758 |
|
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Capital work-in-progress |
0.000 |
0.000 |
0.145 |
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|
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INVESTMENT |
0.024 |
0.024 |
0.024 |
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DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
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Inventories |
103.860
|
85.575 |
126.652 |
|
|
Sundry Debtors |
109.842
|
125.094 |
68.348 |
|
|
Cash & Bank Balances |
18.494
|
6.492 |
5.441 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
43.213
|
57.956 |
44.401 |
|
Total
Current Assets |
275.409
|
275.117 |
244.842 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
129.202
|
|
120.236 |
|
|
Other Current Liabilities |
14.042
|
8.331 |
|
|
|
Provisions |
29.789
|
23.361 |
16.964 |
|
Total
Current Liabilities |
173.033
|
125.033 |
137.200 |
|
|
Net Current Assets |
102.376
|
150.084 |
107.642 |
|
|
|
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MISCELLANEOUS EXPENSES |
0.217 |
0.434 |
0.652 |
|
|
|
|
|
|
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0OTAL |
350.690 |
291.943 |
248.221 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
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SALES |
|
|
|
|
|
|
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Income |
|
946.292 |
879.813 |
|
|
|
Other Income |
|
|
|
|
|
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TOTAL |
1022.852 |
946.292 |
879.813 |
|
|
|
|
|
|
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|
Less |
TOTAL EXPENSES |
918.420 |
864.683 |
828.364 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
104.432 |
81.609 |
51.449 |
|
|
|
|
|
|
|
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Less |
TAX |
36.676 |
30.607 |
20.926 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
67.756 |
51.002 |
30.523 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
26.11 |
-- |
-- |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
6.62
|
5.39 |
3.47 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
19.95
|
19.59 |
13.38 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.44
|
0.46 |
0.38 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.18
|
1.31 |
1.84 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.59
|
2.20 |
1.78 |
LOCAL AGENCY FURTHER INFORMATION
Performance of the
company:
The company outstandingly performed during the period and recorded 8% growth in sales even after global economic recession during the first half of the financial year. Profit of the company has also been increased from Rs. 81.609 Millions in the previous year to Rs. 104.432 Millions in current year that shows a growth of 28%. During the global economic recession the company recorded achieved positive growth both in sales and profit which reflect the caliber of the management of the company and faith of customers in the company.
Bankers Charges
Report as per Registry
|
Corporate
identity number of the company |
U74899DL1990PTC039084 |
|
Name of the
company |
DANTAL HYDRAULICS PRIVATE LIMITED |
|
Address of the registered
office or of the principal place of
business in |
B – 172, Saraswati Vihar, |
|
This form is for |
Creation of
Charge |
|
Type of charge |
Immovable Property Others |
|
Particular of charge
holder |
Citi Bank N.A., |
|
Nature of
instrument creating charge |
Secured Term Loan
Agreement where the security is by way of hypothecation of plant and
machinery and property mortgage. |
|
Date of
instrument Creating the charge |
15.06.2011 |
|
Amount secured by
the charge |
Rs. 50.000
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest 13% p.a. or 3
monthly LIBOR plus 350 basis points. Terms of
Repayment For Rupee Term
Loan Repayable in 60 equal monthly installments. For buyers
credit: Repayment in 12 equal quarterly installment such that time period form
date of shipment to last date of repayment does not exceed 2 years 364 day Margin 10% on plant and
machinery Extent and
Operation of the charge First exclusive
charge on all the borrower’s present and future movable plant, machinery,
vehicles and equipments belonging to the borrower except hypothecation by
other bank and Institutions. First pari-passu
charge on the equitable mortgage of factory land and building situated at 24,
Udyog Vihar Industrial Area, Phase IV, Gurgaon Others The repayment of
all monies in respect of the banking facilites including outstanding balance
and also all interests, costs, charges, expenses and other moneys payable to
Citibank N.A as per Term Loan. |
|
Short particulars
of the property charged |
All the borrower’s
present and future movable plant, machinery, vehicles and equipments
belonging to the borrower except hypothecated by other banks and
institutions. Equitable mortgage of factory land and building
situated at 24, Udyog Vihar Industrial Area, Phnase IV, Gurgaon in Pari passu
with Axis Bank. |
|
Name of the company |
DANTAL
HYDRAULICS PRIVATE LIMITED |
|
Presented By |
Mr. Sanjay
Talwar, Managing Director |
|
1) Date and description of instrument creating the change |
On 24.10.2005. Deed
of Hypothecation executed by the company in favour of Small Industries
Development Bank of |
|
2) Amount secured by the charge/amount owing on the securities of charge |
The Term Loan of Rs.
70.000 Millions agreed to be lent and advanced by SIDBI to the company
together with Interest, further Interest, liquidated damages, costs, charges,
expenses and all other moneys payable by the company to SIDBI in terms of
letter of Interest no SIDBI/GGBO/604/DHPL dated 05.010.2005 and loan
agreement dated 24.10.2005 between the company of the one part and SIDBI of
the other part. |
|
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 |
All the plant,
machinery, equipment, and other assets acquired / to be acquired by the
Borrower under the scheme together with all spares, tools, accessories
whether installed or not and whether now lying or stored in or about or shall
hereafter from time to time during the continuance of the security of these
presents by brought into or upon or be stored or be in or about the
borrower’s premises, factory,
showrooms or wherever else the same may be or be held by any party to
the order or disposition of the borrower or in the course of transit of on
high seas or on order or delivery, howsoever and wheresoever in the
possession of the borrower and either by way of substitution of
addition. |
|
4) Gist of the terms and conditions and extent and operation of the charge. |
The charge
operates as first charge to secure the due repayment and discharge by the
company to SIDBI of its loan of Rs. 70.000 Millions together with interest,
further interest, liquidated damages, expenses and all other monies payable
by the company under the letters of sanction / letters of intent /
modifications / terms of sanction as amended / modified / renewed from time
to time. The company has undertaken to keep the hypothecated
goods in marketable and good condition at its own costs and to insure the
same in the joint names of the company and SIDBI. All the goods
hypothecated and all realizations and insurance proceeds thereof and all
documents in respect of the said security are to be kept distinguishable and
held as the exclusive property of SIDBI. The security
created under the said Deed of Hypothecation is to be continuing security. |
|
5) Name and Address and description of the person entitled to the charge. |
Small Industries
Development Bank of |
|
6) Date and brief description of instrument modifying the charge |
NA |
|
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. |
NA |
|
This form is for |
Creation of
charge |
|
Corporate
identity number of the company |
U74899DL1990PTC039084 |
|
Name of the
company |
DANTAL HYDRAULICS PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
New Delhi8, |
|
Particular of
charge holder |
Canbank Factors
Limited |
|
Nature of
description of the instrument creating or modifying the charge |
|
|
Date of
instrument Creating the charge |
09.10.2006 |
|
Amount secured by
the charge |
Rs. 5.000
Millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Extent operation
of the charge 100 % Others The said charge
is to secure a factoring loan of Rs. 5.000 Millions granted by Canbank
Factors Limited to the company. The service
charges/ reassignment charges / discounting rates shall be as per schedule of
Factoring Agreement. |
|
Short particulars
of the property charged |
|
Fixed Assets:
- Land
- Flat
- Plant and Machinery
- Vehicles
- Furniture and Fixture
- Computer and Software
- Electrical Installation
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.44.38 |
|
|
1 |
Rs.71.24 |
|
Euro |
1 |
Rs.64.16 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
48 |
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.