MIRA
INFORM REPORT
|
Report Date : |
13.06.2011 |
IDENTIFICATION DETAILS
|
Name : |
AEGIS LIMITED (w.e.f.29.10.2008) |
|
|
|
|
Formerly Known
as : |
AEGIS BPO SERVICES LIMITED |
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|
|
|
Registered Office
: |
Essar Home, 11, K K Marg, Mahalaxmi, Mumbai – 400034, |
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Country : |
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|
|
|
|
Financials (as
on) : |
31.03.2010 |
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|
|
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Date of
Incorporation : |
07.01.1992 |
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|
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|
Com. Reg. No.: |
11-064767 |
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|
|
Capital Investment
/ Paid-up Capital : |
Rs.2465.390
Millions |
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|
|
CIN No.: [Company Identification
No.] |
U99999MH1992PLC064767 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMA29517F |
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PAN No.: [Permanent Account No.] |
AAACE8354Q |
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|
|
Legal Form : |
A closely held public limited liability company. |
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Line of Business
: |
Call Centre and BPO |
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|
No. of Employees
: |
36000 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (51) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 33700000 |
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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 a well established company having satisfactory track.
General Financial Position is satisfactory. 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.
INFORMATION DENIED BY
|
Name : |
Mr. Santosh |
|
Date : |
10.06.2011 |
LOCATIONS
|
Registered Office : |
Essar Home, 11, K K Marg, Mahalaxmi, Mumbai – 400034, |
|
Tel. No.: |
91-22-66601100 |
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Fax No.: |
91-22-23544490 |
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E-Mail : |
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Website : |
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Branches : |
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DIRECTORS
As on 15.11.2010
|
Name : |
Mr. Anshuman Shashikant Ruia |
|
Designation : |
Director |
|
Address : |
67-A, |
|
Date of Birth/Age : |
11.03.1971 |
|
Date of Appointment : |
22.12.2005 |
|
DIN No. : |
00008501 |
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|
|
|
Name : |
Mr. Aparup Sengupta |
|
Designation : |
Managing Director |
|
Address : |
104/105, 2B Garden Enclave, |
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Date of Birth/Age : |
20.08.1964 |
|
Date of Appointment : |
01.08.2006 |
|
DIN No. : |
00031274 |
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|
|
|
Name : |
Mr. John Michael Lind |
|
Designation : |
Director |
|
Address : |
515, VIA Sinuosa |
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Date of Birth/Age : |
11.02.1965 |
|
Date of Appointment : |
19.01.2010 |
|
DIN No. : |
01516635 |
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|
|
|
Name : |
Mr. Dilip Jayantilal Thakkar |
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Designation : |
Director |
|
Address : |
Little |
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Date of Birth/Age : |
01.10.1936 |
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Date of Appointment : |
19.01.2010 |
|
DIN No. : |
00007339 |
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|
|
|
Name : |
Mr. Debashis Chatterjee |
|
Designation : |
Director |
|
Address : |
Indian Institute of Management, Kozhikode, IIMK Campus (Post),
Kunnamangalam, Kozhikode – 6373570, |
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Date of Birth/Age : |
05.09.1964 |
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Date of Appointment : |
19.01.2010 |
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DIN No. : |
02874723 |
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|
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Name : |
Mr. Vikas Saraf |
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Designation : |
Director |
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Address : |
2B, Saker Apartment, 71, |
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Date of Birth/Age : |
18.12.1968 |
|
Date of Appointment : |
01.11.2002 |
|
DIN No. : |
00055579 |
KEY EXECUTIVES
|
Name : |
Mrs. Shruti Anilkumar Jain |
|
Designation : |
Secretary |
|
Address : |
20/6, Mehta House, |
|
Date of Birth/Age : |
04.03.1982 |
|
Date of Appointment : |
21.03.2007 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 15.11.2010
Equity Shares :
|
Names of Shareholders |
|
No. of Shares |
|
Essar Services Holdings Limited ( |
|
170356100 |
|
Essar Services Holdings Limited Jointly with |
|
4 |
|
Essar Services Holdings Limited Jointly with B. |
|
4 |
|
Essar Services Holdings Limited Jointly with A Mohanan, |
|
4 |
|
Essar Services Holdings Limited Jointly with Shah |
|
4 |
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Essar Services Holdings Limited Jointly with |
|
4 |
|
Essar Services Holdings Limited Jointly with |
|
4 |
|
Arya Infrastructure Holdings Limited, |
|
6543568 |
|
Global Vantedge Mauritius Limited, |
|
68621756 |
|
Globe Vantedge Bermuda (Nominee of GVM), |
|
4 |
|
Swift Response Incorporation, |
|
1016564 |
|
Ansuman Ruia |
|
1000 |
|
Total |
|
246539016 |
As On 15.11.2010
|
S. No. |
Category |
Percentage |
|
1 |
Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s), Non-resident
Indian(s) or Overseas Corporate bodies or Others |
100.00 |
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Call Centre and BPO |
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Products : |
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GENERAL INFORMATION
|
No. of Employees : |
36000 (Approximately) |
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Bankers : |
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Facilities : |
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Banking
Relations : |
-- |
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|
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Auditors : |
|
|
Name : |
S.R. Batliboi and Company Chartered Accountant |
|
Address : |
Jalan Mill Compound, 95, Ganpatrao Kadam Marg, Lower Parel, Mumbai –
400013, |
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|
|
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Subsidiary Company : |
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|
|
|
Holding Company : |
Essar Services Holdings Limited ( |
CAPITAL STRUCTURE
As on 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
9980000000 |
Equity Shares |
Rs.10/- each |
Rs. 99800.000 Millions |
|
20000000 |
Preference Shares |
Rs.10/- each |
Rs. 200.000 Millions |
|
|
Total |
|
Rs.100000.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
246539016 |
Equity Shares |
Rs.10/- each |
Rs.2465.390
Millions |
As on 15.11.2010
Authorised Capital : Rs.100000.000 Millions
Issued, Subscribed & Paid-up Capital : Rs.2702.369 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 |
2465.390 |
616.345 |
375.810 |
|
|
2] Share Application Money |
0.000 |
0.000 |
171.554 |
|
|
3] Share Capital to be Issued |
137.737 |
0.000 |
0.000 |
|
|
4] Reserves & Surplus |
5822.650 |
5799.041 |
2881.258 |
|
|
5] (Accumulated Losses) |
0.000 |
0.000 |
(213.119) |
|
|
NETWORTH |
8425.777 |
6415.386 |
3215.503 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
2066.302 |
492.911 |
292.360 |
|
|
2] Unsecured Loans |
22.000 |
4.382 |
122.283 |
|
|
TOTAL BORROWING |
2088.302 |
497.293 |
414.643 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
10514.079 |
6912.679 |
3630.146 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
1486.260 |
892.896 |
537.041 |
|
|
Capital work-in-progress |
343.566 |
12.808 |
129.959 |
|
|
|
|
|
|
|
|
INVESTMENT |
5120.861 |
5119.651 |
2355.432 |
|
|
DEFERREX TAX ASSETS |
51.437 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
0.000
|
0.000
|
0.000 |
|
|
Sundry Debtors |
2702.928
|
817.049
|
868.626 |
|
|
Cash & Bank Balances |
589.405
|
29.309
|
85.307 |
|
|
Other Current Assets |
416.744
|
1.803
|
0.000 |
|
|
Loans & Advances |
2506.191
|
662.713
|
399.548 |
|
Total
Current Assets |
6215.268
|
1510.874
|
1353.481 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
119.799 |
572.741 |
|
|
Other Current Liabilities |
2613.844
|
579.179
|
147.939 |
|
|
Provisions |
142.690
|
44.371
|
25.087 |
|
Total
Current Liabilities |
2756.534
|
623.550
|
745.767 |
|
|
Net Current Assets |
3458.734
|
887.324
|
607.714 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
53.221 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
10514.079 |
6912.679 |
3630.146 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
8376.570 |
3847.788 |
2672.164 |
|
|
|
Other Income |
128.221 |
162.461 |
9.933 |
|
|
|
TOTAL (A) |
8504.791 |
4010.249 |
2682.097 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Personnel Expenses |
3608.282 |
2144.127 |
1518.288 |
|
|
|
Operating and other expenses |
2786.284 |
1137.080 |
899.282 |
|
|
|
TOTAL (B) |
6394.566 |
3281.207 |
2417.570 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) I |
2110.225 |
729.042 |
264.527 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
187.368 |
63.931 |
79.880 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
1922.857 |
665.111 |
154.647 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
395.925 |
213.224 |
152.340 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
1526.932 |
451.887 |
32.307 |
|
|
|
|
|
|
|
|
|
Less |
TAX (I) |
174.604 |
11.227 |
10.374 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-I) (J) |
1352.328 |
440.660 |
21.933 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
227.542 |
(213.118) |
(235.051) |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
1579.870 |
227.542 |
(213.118) |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
5.48 |
9.09 |
(0.46) |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
15.90
|
10.99
|
0.81 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
18.23
|
11.74
|
1.20 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
19.83
|
18.80
|
1.70 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.18
|
0.07
|
0.01 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.57
|
0.17
|
0.36 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.25
|
2.42
|
1.81 |
LOCAL AGENCY FURTHER INFORMATION
Sundry Creditors
Details :
|
Particulars |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
Sundry Creditors
|
|
|
|
|
Total Outstanding dues of Micro, Medium and small Enterprises |
|
-- |
-- |
|
Others |
|
119.799 |
572.741 |
|
|
|
|
|
|
Total |
NA |
119.799 |
572.741 |
FORM : 8
|
Corporate
identity number of the company |
U99999MH1992PLC064767 |
|
Name of the
company |
AEGIS LIMITED |
|
Address of the
registered office or of the principal place of business in |
Essar House 11K K
Marg, Mahalxmi, Mumbai – 400034, |
|
This form is for |
Creation of
Charge |
|
Type of charge |
Movable property |
|
Particular of
charge holder |
Axis Bank
Limited, |
|
Nature of
instrument creating charge |
Composite
Hypothecation Deed |
|
Date of instrument
Creating the charge |
09.10.2010 |
|
Amount secured by
the charge |
Rs. 940.000
millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest : MARGIN + LIBOR Terms of Repayment : 14 Quarterly
Installments of USD 1.57 Millions after 18 months from the date of
Disbursement Margin : Not at any time
less than 1.25 Extent and Operation of the charge : First ranking
pari passu charge of present and future movable fixed assets and second
ranking present and future current assets. More particularly
covered in page 3 and 4 of the attachment. |
|
Short Particulars
of the property charged |
Movable fixed
assets both present and future, more elaborately described in schedule II of
the attachment |
Fixed Assets :
- Lease Hold
Improvement
- Office
Equipment
- Computers
- Software
- Furniture and
Fixtures
- Vehicles
- Vehicle –
Finance Lease
- Computers –
Finance Lease
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. 72.93 |
|
Euro |
1 |
Rs. 64.72 |
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 |
5 |
|
--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 |
|
51 |
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.