MIRA
INFORM REPORT
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Report Date : |
12.07.2011 |
IDENTIFICATION DETAILS
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Name : |
RUBY MICA COMPANY LIMITED |
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Formerly Known
As : |
RUBY MICA COMPANY PRIVATE LIMITED |
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Registered Office : |
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Country : |
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Financials (as on) : |
31.03.2010 |
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Date of Incorporation : |
01.06.1988 |
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Com. Reg. No.: |
35- 3019 |
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Capital
Investment / Paid-up Capital : |
Rs.19.765 Millions |
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CIN No.: [Company
Identification No.] |
U14293JH1988PTC003019 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
RCHR00504A |
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PAN No.: [Permanent
Account No.] |
AAACR9090C |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business : |
Manufacturer and Exporter of Mica Insulating Materials. |
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No. of Employees
: |
250 [Approximately] |
RATING & COMMENTS
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MIRA’s Rating : |
Ba (45) |
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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 303000 |
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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) |
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A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
INFORMATION PARTED BY
|
Name : |
Mr. Sohail Khan |
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Designation : |
Marketing Sales Manager |
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Contact No.: |
91-9471533708 |
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Date : |
11.07.2011 |
LOCATIONS
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Registered Office/ Factory : |
B.B. C Rpad. P.S. Giridih-815301, |
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Tel. No.: |
91-6532-222957 / 222357 |
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Mobile No.: |
91-9471533708 [Mr. Sohail Khan] |
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Fax No.: |
91-6532-222857 / 250903 |
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E-Mail : |
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Website : |
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Location : |
Owned |
DIRECTORS
As on 30.09.2010
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Name : |
Mr. Rajendra Kumar Bagaria |
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Designation : |
Director |
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Address : |
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Date of Birth/Age : |
31.01.1960 |
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Qualification: |
MBA |
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Date of Appointment : |
01.06.1988 |
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DIN : |
00466005 |
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Name : |
Mr. Chandan Kumar Bagaria |
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Designation : |
Director |
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Address : |
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Date of Birth/Age : |
11.05.1959 |
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Qualification: |
Graduate |
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Date of Appointment : |
11.06.1988 |
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DIN : |
01001615 |
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Name : |
Mr. Ankit Bagaria |
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Designation : |
Director |
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Address : |
C/O Rajendra Kumar Bagaria, P.O. Pachamba, Giridih-815301, |
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Date of Birth/Age : |
12.01.1987 |
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Date of Appointment : |
01.03.2010 |
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DIN : |
03010432 |
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Name : |
Mr. Anshul Bagaria |
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Designation : |
Director |
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Address : |
C/O Chandan Kumar Bagaria, P.O. Pachamba, Giridih-815316, |
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Date of Birth/Age : |
17.09.1987 |
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Date of Appointment : |
01.03.2010 |
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DIN : |
03010444 |
KEY EXECUTIVES
|
Name : |
Mr. Sohail Khan |
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Designation : |
Marketing Sales Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As On (30.09.2010)
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Names of Shareholders |
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No. of Shares |
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Chandan Kumar Bagaria |
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12020 |
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Madhu Bagaria |
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5500 |
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Rajendra Kumar Bagaria |
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13020 |
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Jyoti Bagaria |
|
9600 |
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Anita Bagaria |
|
9700 |
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Murarilal Bagaria |
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91350 |
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Deepak Kumar Bagaria |
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6170 |
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Sarla Jhunjhunwala |
|
87 |
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Ankit Bagaria |
|
1200 |
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Anshul Bagaria |
|
1500 |
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Avishek Bagaria |
|
1100 |
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Ayush Bagaria |
|
1000 |
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Parul Bagaria |
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450 |
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Priyansha Bagaria |
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950 |
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Govind Prasad Bagaria |
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5000 |
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Kamal Prasad Bagaria |
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10000 |
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Chandan Kumar Bagaria (HUF) |
|
2000 |
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Rajendra Kumar Bagaria (HUF) |
|
2000 |
|
Ruby Oxygen Private Limited, |
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25000 |
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Total |
|
197647 |
(As
on 30.09.2010)
|
Category |
Percentage |
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Bodies Corporate (not mentioned above) |
12.65 |
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Directors or relatives of directors |
87.35 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Exporter of Mica Insulating Materials. |
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Products: |
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Exports : |
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Products : |
Mica insulating materials |
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Countries: |
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Imports : |
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Products : |
Raw Materials |
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Countries : |
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Terms : |
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Selling : |
L/C, Cash and Credit [30 Days] |
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Purchase : |
L/C, Cash and Credit [30 Days] |
GENERAL INFORMATION
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Customers : |
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No. of Employee : |
250 [Approximately] |
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Bankers : |
· State Bank of
India, Giridih Bazar Branch, Whitty Bazar, Giridih- 815301, Jharkhand, India · Indian Overseas
Bank, Giridih Branch, Makatpur, |
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Facilities: |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Kedia Agarwal and Associates Chartered Accountants |
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Address : |
Tah Complex, Gandhi Chowk, Giridih – 815 301, |
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Tel No.: |
91-6532- 222639 |
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Mobile No.: |
91-9431144160/ 9835505990 |
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Fax No.: |
91-6532-222639 |
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E Mail: |
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Pan No.: |
AACFK6368H |
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Associates /
Subsidiaries : |
Address : Activities : Manufacturer of Sponge Iron
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CAPITAL STRUCTURE
As on 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
500,000 |
Equity Shares |
Rs.100/- each |
Rs. 50.000 Millions |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
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197,647 |
Equity Shares |
Rs.100/- each |
Rs. 19.765
Millions |
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FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
19.765 |
19.265 |
17.265 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
56.128 |
52.080 |
41.477 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
75.893 |
71.345 |
58.742 |
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LOAN FUNDS |
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1] Secured Loans |
57.402 |
38.613 |
13.524 |
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2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
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TOTAL BORROWING |
57.402 |
38.613 |
13.524 |
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DEFERRED TAX LIABILITIES |
2.976 |
3.546 |
3.137 |
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TOTAL |
136.271 |
113.504 |
75.403 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
74.074 |
69.492 |
49.050 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.000 |
0.000 |
0.000 |
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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 |
25.551
|
6.885
|
5.288
|
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Sundry Debtors |
15.318
|
18.105
|
15.025
|
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Cash & Bank Balances |
2.818
|
2.392
|
4.413
|
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Other Current Assets |
0.000
|
0.000
|
0.000
|
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Loans & Advances |
22.324
|
21.585
|
6.966
|
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Total
Current Assets |
66.011
|
48.967
|
31.692
|
|
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Less : CURRENT
LIABILITIES & PROVISIONS |
|
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|
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Sundry Creditors |
3.651
|
3.914
|
5.035
|
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Other Current Liabilities |
0.134
|
0.882
|
0.078
|
|
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Provisions |
0.029
|
0.159
|
0.226
|
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Total
Current Liabilities |
3.814
|
4.955
|
5.339
|
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Net Current Assets |
62.197
|
44.012
|
26.353
|
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
136.271 |
113.504 |
75.403 |
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PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
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SALES |
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Income |
|
72.559 |
90.405 |
|
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Other Income |
|
0.905 |
1.913 |
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|
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TOTAL (A) |
|
73.464 |
92.318 |
|
|
|
|
|
|
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Less |
EXPENSES |
|
|
|
|
|
|
|
Increase / decrease in stocks |
|
[8.965] |
[1.364] |
|
|
|
Consumption of raw materials |
|
35.936 |
48.051 |
|
|
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Processing manufacturing expenses |
|
16.468 |
16.049 |
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|
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Administrative and selling Expenses |
|
11.930 |
16.513 |
|
|
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TOTAL (B) |
|
55.369 |
79.249 |
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Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
|
18.095 |
13.069 |
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|
|
|
|
|
|
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Less |
FINANCIAL
EXPENSES (D) |
|
6.085 |
2.403 |
|
|
|
|
|
|
|
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PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
|
12.010 |
10.666 |
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|
|
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|
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Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
|
9.493 |
6.202 |
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PROFIT BEFORE
TAX (E-F) (G) |
|
2.517 |
4.464 |
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Less |
TAX (H) |
|
0.469 |
1.831 |
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PROFIT AFTER TAX
(G-H) (I) |
|
2.048 |
2.633 |
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Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
|
22.276 |
19.674 |
|
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|
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|
|
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Less |
Income tax
adjustment for earlier years |
|
0.000 |
0.031 |
|
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BALANCE CARRIED
TO THE B/S |
|
24.324 |
22.276 |
|
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|
|
|
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|
Earnings Per
Share (Rs.) |
|
10.36 |
-- |
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Particulars |
|
|
31.03.2011 |
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Sales Turnover [Approximately] |
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|
110.000 |
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Expected Sales ( 2011-12 ) : Rs. 150.000 Millions
The above information has been parted by Mr. Sohail Khan [Marketing Sales Manager]
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
2.79
|
2.85
|
NA
|
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|
Net Profit Margin (PBT/Sales) |
(%) |
3.47
|
4.94
|
NA
|
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|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.80
|
3.77
|
NA
|
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|
|
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|
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Return on Investment (ROI) (PBT/Networth) |
|
0.03
|
0.06
|
NA
|
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Debt Equity Ratio (Total Liability/Networth) |
|
0.81
|
0.61
|
0.32
|
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|
Current Ratio (Current Asset/Current Liability) |
|
17.31
|
9.88
|
5.94
|
LOCAL AGENCY FURTHER INFORMATION
Trade References:
·
ISO
·
Dulik Limited
Bankers Charges
Report as per Registry
|
Corporate
identity number of the company |
U14293JH1988PTC003019 |
|
Name of the
company |
RUBY MICA COMPANY LIMITED |
|
Address of the
registered office or of the principal place of business in |
|
|
This form is for |
Creation of
Charge |
|
Type of charge |
Immovable Property Others |
|
Particular of
charge holder |
Indian Overseas Bank, Giridih Branch, Makatpur, |
|
Nature of
instrument creating charge |
Confirmation
letter evidencing creation of supplemental mortgage (F379C) Guarantee for
cash credit (F111) |
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Date of
instrument Creating the charge |
31.03.2011 |
|
Amount secured by
the charge |
Rs. 7.600
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest
- Base rate+0.75% Terms of
Repayment - The TL of Rs.7.600 millions is repayable in 174 EMI of Rs.0.089
million per month with 6 months holiday period during which monthly interest
of Rs.0.069 million must be serviced. Margin 20% Extent and
Operation of the charge - Equitable mortgage of L and B to be constructed at
Mouza Makatpur(Town), Touzi no.15/11, Thoka no.331, Municipal holding
no.295(part), ward no.1(old) and 2(new), Giridih Town, Giridih and the owner
of property is Ruby Mica Company, deed no.8303/8048 dated 04.08.03 and
8304/8049 dated 04.08.03. The forced sale value of the property is Rs.27.429
millions as per valuation report of Mr. A.K.Singh dated 20.02.2009. Company
has also given their corporate guarantee for the Housing Loan sanctioned. Others - As per
sanction advice dated 31.03.2011 duly accepted by the company. The Company
has given corporate guarantee for the Housing loan of Rs.7.600 millions
sanctioned to Sri Rajendra Bagaria and Smt.Anita Bagaria. |
|
Short particulars
of the property charged |
Equitable
mortgage of L and B to be constructed at Mouza Makatpur(Town), Touzi
no.15/11, Thoka no.331, Municipal holding no.295(part), ward no.1(old) and
2(new), Giridih Town, Giridih and the owner of property is Ruby Mica Company,
deed no.8303/8048 dated 04.08.03 total area 38 Decimals and 8304/8049 dated
04.08.03 total area 8.25 decimals. Company has also given their corporate
guarantee for the Housing Loan sanctioned to Sri Rajendra Bagaria and
Smt.Anita Bagaria. |
Bankers Charges Report
as per Registry
|
Corporate
identity number of the company |
U14293JH1988PTC003019 |
|
Name of the
company |
RUBY MICA COMPANY LIMITED |
|
Address of the
registered office or of the principal place of business in |
|
|
This form is for |
Creation of
Charge |
|
Type of charge |
Immovable Property |
|
Particular of
charge holder |
Indian Overseas Bank, Giridih Branch, Makatpur, |
|
Nature of
instrument creating charge |
Confirmation
letter evidencing creation of supplemental mortgage (F379C) Guarantee for
cash credit (F111A) |
|
Date of
instrument Creating the charge |
28.04.2010 |
|
Amount secured by
the charge |
Rs. 10.000
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest Cash Credit –
BPLR + 1% Terms of
Repayment Cash Credit –
Payable on demand Margin 25% on paid
stocks 40% on book-debts
/ receivables Extent and
Operation of the charge First and full
charge on property mortgaged Others The company has
given guarantee for the adhoc CC limit sanctioned to Venkateshwara Spong and Iron
Company Private Limited to the extent of Rs. 10.000 Millions |
|
Short particulars
of the property charged |
EM of Land an
Building situated at Makatpur, Giridh and Mahuatand, P.O, Gadishrirampur,
District- Giridh Repayment by sale deed No. 8303/8048 dated 04.08.2003, 8304/
8049 at Makatpur, Than-95, Khata -331 EM of Land and
Building situated at Makatpur, Giridh and Mahuatand, P.O. Gadishrirampur,
District- Giridih Repayment by sale deed No. 6837/ 6650 dated 25.06.2003,
8049/ 7808, 8050/7809 dated 25.07.2003 Existing EM of
Land and Building situated at Makatpur, Giridih and Mahuatand, P.O.
Gadishirirampur, District Giridih Repayment by sale deed No. 11555/ 11118,
11559/ 11122 dated 19.11.2003 Khat No. 02, 06 and 07 Thana no. 261 |
|
This form is for |
Creation of
charge |
|
Corporate
identity number of the company |
U14293JH1988PTC003019 |
|
Name of the
company |
RUBY MICA COMPANY LIMITED |
|
Address of the
registered office or of the principal place of business in |
|
|
Type of charge |
Immovable
Property |
|
Particular of
charge holder |
Indian Overseas Bank Giridih Branch, Makatpur, E-Mail : roplan@patsco.jobnet.co.in
|
|
Nature of
description of the instrument creating or modifying the charge |
F 379C-
Confirmation latter evidencing creation of supplemental mortgage F 111A- guarantee
for cash credit |
|
Date of
instrument Creating the charge |
14.03.2009 |
|
Amount secured by
the charge |
Rs.10.000
millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest Cash credit: BPLR
+1% (at present 13.50%) Terms of Repayment Cash credit :
payable on demand Margin 25% on paid stock
40% on book debts
/ receivable Extent and Operation of the charge First and full
charge on properties mortgaged. Others The company has
given guarantee for the adhoc cash credit limit sanctioned to M.S
Venkateshwara Spongs and Iron Company Private Limited of Rs.10.000 millions
over and above the sanctioned CC Limit of Rs.50.000 millions and existing
terms loan limit of Rs.94.400 millions |
|
Short particulars
of the property charged |
1. Equitable
mortgage of two storied building (original sale deed no., 8303/8049 date:
04.08.2003) located at Makatpur, town situated at Thoka No.331, Holding No. 295(part),
ward no.1(old) and 2(new) P.S + Distt, Giridih 2. Equitable
mortgage of landed property (original sale deed no. 6839/ 6650 dated
25.06.2003. 8050/7809 dated 25.07.2003 11555/11118 dated 19.11.2003 and
11559/ 11122 dated 19.11.2003 ) at vill. Mahutand Gadi Srirampur, Giridih,
Khata No.02, 06 and 07, thane no.261,
measuring 18.22 acres. |
Fixed Assets
- Land
- Factory Sited and Building
- Land and Building
- Plant and Machinery
- Furniture and Fixture
- Boiler
- Generator
- EPBX Systems
- Xerox Machine
- Pumps
- Diesel Tank
- Weighing Scale
- Welding Machine
- Water Tank
- Air conditioner
- Television
- Mobile Phone
- Testing Equipments
- Fax Machine
- Electrical Installation
- Electrical goods
- Vehicle
- Computer
Web Details
Subject
is a manufacturer and exporter of
natural mica in
They
produce the world's very best quality of mica mined locally, and source other
raw material from the renowned manufacturers only. They are also privileged to
have a highly qualified and trained team of engineers and labor for production
. With established market in
Product Portfolio
Natural Mica in all forms , sizes and
qualities like Mica Blocks , Mica Splittings , Mica Waste/Scrap etc.
Punched Mica parts like Plates, Circles ,
Washers, Strips etc. to any given dimensions / specifications .
Dry Ground Mica Parts and Flakes in mesh
sizes from 2-325
Mica Heating Element in all design , wattage
and voltage for use in Ironing Appliances, Toasters, Hair Dryers . etc
Uncalcined Muscovite / Phlogopite Mica Paper
in basis weights , 80-270 gsm , deckle width ( standard)
1040 mm in roll forms .
Flexible Rigid Mica Sheet bonded with
Silicone , Epoxy , Alkyd Vinyl and other resins in size 1200 x 1000 mm and
thickness 0.1-25 mm.
Mica Tube in various sizes and one meter
length.
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 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.44.37 |
|
|
1 |
Rs.70.83 |
|
Euro |
1 |
Rs.62.95 |
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 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
4 |
|
--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 |
|
45 |
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.