MIRA
INFORM REPORT
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Report Date : |
05.03.2011 |
IDENTIFICATION DETAILS
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Name : |
MAINI MATERIALS MOVEMENT PRIVATE LIMITED |
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Registered Office : |
No. 38, Maini Sadan, 7th Cross, Lavelle Road, |
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Country : |
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Financials (as on) : |
31.03.2010 |
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Date of Incorporation : |
11.04.1984 |
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Com. Reg. No.: |
08-6017 |
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CIN No.: [Company
Identification No.] |
U60231KA1984PTC006017 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
BLRM00649F |
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PAN No.: [Permanent
Account No.] |
AABCM8922D |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer of Material Handling Equipments. |
RATING & COMMENTS
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MIRA’s Rating : |
A (56) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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 |
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Maximum Credit Limit : |
USD 930000 |
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Status : |
Good |
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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.
Available information indicates high financials responsibility of the company.
Trade relations are reported as fair. Payments are usually correct and as per
commitments. The company can be considered good for normal 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
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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
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Name : |
Mr. Pravin |
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Designation : |
Account Manager |
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Contact No.: |
91-80-27832240 |
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Date : |
04.03.2011 |
LOCATIONS
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Registered Office : |
No. 38, Maini Sadan, 7th Cross, Lavelle Road, |
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Tel. No.: |
91-80-43526580/27832240 |
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Fax No.: |
91-80-43526555/27832580 |
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E-Mail : |
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Website : |
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Area : |
2500 Sq. Ft. |
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Location: |
Owned |
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Administrative
Office/ Factory 1 : |
No: 122-D and E,
Bommansandra Industrial Area, |
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Tel. No.: |
91-80-27832240 |
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Fax No.: |
91-80-27832580 |
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E-Mail : |
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Website : |
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Factory 2: |
196 A-2,
Bommansandra Industrial Area, |
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Tel No.: |
91-80-27832954 |
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Corporate Office 1/ Factory 3: |
Survey No.32, |
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Tel. No.: |
91-80-27832240/ 27834860 |
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Fax No.: |
91-80-27832580 |
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Email : |
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Corporate Office
2: |
" |
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Tel. No.: |
91-80-2212143 / 2492 |
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Fax No.: |
91-80-2270634 |
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E-Mail : |
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Website : |
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Spares Depot : |
No. 58, |
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Tel No.: |
91-80-25732240 |
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Branch Office/ Sales Office: |
Located at: ·
·
Ahmedabad · Chennai · Pune · Mumbai ·
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Dealers : |
Located at: ·
Secunderabad ·
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Chennai ·
Kolkata ·
Vapi |
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Stockists: |
Located at: (North) ·
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· Gurgaon ·
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(South) : ·
·
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· Trichy ·
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Hosur (East) : ·
(West) : · Mumbai ·
· Pune ·
· Ahmedabad · Vadodara (Central) ·
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DIRECTORS
As on 31.07.2010
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Name : |
Mr. Sandeep Kumar Maini |
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Designation : |
Managing Director |
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Address : |
No.3, |
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Date of Birth/Age : |
31.08.1966 |
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Date of Appointment : |
21.07.2007 |
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Name : |
Mr. Sarosh J. Ghandy |
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Designation : |
Director |
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Address : |
Ushtana Apartment Enclave, |
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Date of Birth/Age : |
21.12.1937 |
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Date of Appointment : |
21.07.2007 |
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Name : |
Mr. Kewal |
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Designation : |
Director |
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Address : |
No.11, Aryavarta, 351, Narayan Dobholkar Marg, Mumbai – 400006, |
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Date of Birth/Age : |
10.01.1932 |
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Date of Appointment : |
21.07.2007 |
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Name : |
Mr. Gautam Maini |
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Designation : |
Director |
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Address : |
Flat No.103-104, Silvercrest Apartments, No.13, |
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Date of Birth/Age : |
09.11.1967 |
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Date of Appointment : |
16.10.2008 |
KEY EXECUTIVES
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Name : |
Mr. Pravin |
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Designation : |
Account Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 31.07.2010
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Names of Shareholders |
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No. of Shares |
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Sudarshan Kumar Maini |
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45029 |
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Reva Maini |
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19200 |
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Vippen Sareen |
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8200 |
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Gautam Kumar Maini |
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8000 |
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Sandeep Kumar Maini |
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32800 |
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Total |
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113229 |
As on 31.07.2010
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Category |
Percentage |
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Directors or relatives of Directors |
100.00 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of Material Handling Equipments. |
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Products : |
·
Materials Handling Equipment ·
Racking and Storage Systems ·
NEVs and Golf Carts ·
Warehousing Equipment |
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Agencies Held : |
·
Still, ·
Dexicon, U. K. – Racking System ·
HIIAB, |
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Exports : |
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Products : |
· Pallet Trucks ·
Stackers and Parts |
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Countries : |
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Imports : |
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Products : |
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Countries : |
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Terms : |
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Selling : |
L/C, Cash and Credit (30 to 60 to 90days) |
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Purchasing : |
L/C, Cash and Credit (30 to 60 to 90days) |
PRODUCTION STATUS (AS ON 31.03.2010)
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Particulars |
Unit |
Installed Capacity |
Actual Production |
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Stackers |
No’s |
3000 |
419 |
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Pallet Trucks and Parts of Pallet Trucks |
No’s |
25000 |
6059 |
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Platform Trucks |
No’s |
250 |
12 |
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Dock Levellers |
No’s |
500 |
190 |
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Lift Tables |
No’s |
350 |
99 |
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Tow Tractors |
No’s |
1000 |
37 |
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Fork Lifts |
No’s |
100 |
20 |
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ABC |
No’s |
700 |
183 |
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No’s |
1000 |
257 |
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Reva Charger and Parts of Charger |
No’s |
3000 |
1268 |
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Reva Chassis and Parts of Chassis |
No’s |
3000 |
5167 |
GENERAL INFORMATION
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Suppliers : |
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Customers : |
End
Users, OEM’s ·
Tata
Engineering & Locomotive Company Limited ·
Wheels
India Limited, Chennai, Tamilnadu ·
Bajaj Auto Limited ·
Blue Giant Limited, ·
Brodorene Vestergaard A/S, ·
Hindustan Motors Limited, Kolkata, ·
Hindustan Motors Limited, Trivellore, Kerala |
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No. of Employees : |
200 (Approximately) |
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Bankers : |
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Facilities : |
NOTES: Working Capital Loan from citi Bank are secured by hypothecation of
land and building, Plant and Machinery, by creating first charge thereon and
hypothecation of present and future stock of raw materials, stock in process,
finished goods, stores and spares, book debts, outstanding monies and are
further secured by the personal guarantees of some of the directors. Terms Loan from Corporation and Centurion Bank are secured by
hypothecation of Vehicle, Car and Bikes. |
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Banking
Relations : |
- |
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Auditors : |
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Name : |
K P Rao and Company Chartered Accountant |
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Address : |
Poornima, |
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Tel No.: |
91-80-25587385/ 25586814 |
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Fax No.: |
91-80-25594661 |
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Email: |
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Group Companies
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·
Maini Precision Products Private Limited ·
Reva Electric Car Company ·
Bangalore Commercial Corporation ·
Hensel ·
Maini Abrasivos Limited ·
Maini Granites Limited ·
Maini Info Solutions |
CAPITAL STRUCTURE
As on 31.03.2010
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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200000 |
Equity Shares |
Rs.100/- each |
Rs.20.000 Millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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113229 |
Equity Shares |
Rs.100/- each |
Rs.11.323 Millions |
NOTES:
(18000 Equity Shares were allotted as bonus)
Shares by capitalising surplus in profit and
loss A/C. Under the authority of the resolution passed at the meeting of the
board held on 30the June 1994, the managing directors has been given the option
to subscribe for upto 35000 Equity Shares of Rs.100/- each at par, of which
32800 Equity Shares have already been issued)
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
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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 |
11.323 |
11.323 |
11.323 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
220.232 |
201.436 |
186.323 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
231.555 |
212.759 |
197.646 |
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LOAN FUNDS |
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1] Secured Loans |
74.701 |
68.300 |
81.597 |
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2] Unsecured Loans |
0.000 |
0.000 |
0.716 |
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TOTAL BORROWING |
74.701 |
68.300 |
82.313 |
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DEFERRED TAX LIABILITIES |
7.661 |
6.769 |
9.646 |
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TOTAL |
313.917 |
287.828 |
289.605 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
62.112 |
67.006 |
76.571 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
58.371 |
45.000 |
45.000 |
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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 |
67.809
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76.608
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62.558
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Sundry Debtors |
105.940
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93.349
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129.582
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Cash & Bank Balances |
16.697
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15.374
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13.438
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Other Current Assets |
0.000
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0.000
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0.000
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Loans & Advances |
86.623
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66.044
|
89.720
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Total
Current Assets |
277.069
|
251.375
|
295.298
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditors |
51.969
|
43.645 |
19.591 |
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Other Current Liabilities |
13.154
|
7.979 |
73.781
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Provisions |
18.512
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28.729
|
33.892
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Total
Current Liabilities |
83.635
|
80.353
|
127.264
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Net Current Assets |
193.434
|
171.022 |
168.034 |
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MISCELLANEOUS EXPENSES |
0.000 |
4.800 |
0.000 |
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TOTAL |
313.917 |
287.828 |
289.605 |
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PROFIT & LOSS ACCOUNT
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PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
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SALES |
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Income |
419.619 |
527.479 |
506.717 |
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Other Income |
54.167 |
48.763 |
39.989 |
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TOTAL (A) |
473.786 |
576.242 |
546.706 |
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Less |
EXPENSES |
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Material Cost |
262.721 |
347.317 |
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Manufacturing and Other Expenses |
150.847 |
171.324 |
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VRS Expenses Amortised |
4.800 |
4.800 |
445.993 |
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Variation in Stock |
0.319 |
(7.837) |
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TOTAL (B) |
418.687 |
515.604 |
445.993 |
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Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
55.099 |
60.638 |
100.713 |
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Less |
FINANCIAL
EXPENSES (D) |
9.759 |
7.637 |
8.804 |
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PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
45.340 |
53.001 |
91.909 |
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Less/ Add |
DEPRECIATION/ AMORTISATION (F) |
6.849 |
6.728 |
9.536 |
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PROFIT BEFORE
TAX (E-F) (G) |
38.491 |
46.273 |
82.373 |
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Less |
TAX (H) |
16.092 |
17.441 |
27.819 |
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PROFIT AFTER TAX
(G-H) (I) |
22.399 |
28.832 |
54.554 |
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Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
156.545 |
141.025 |
99.783 |
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Less |
APPROPRIATIONS |
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Transfer to General Reserve |
10.000 |
10.000 |
10.000 |
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Proposed Dividend |
2.831 |
2.831 |
0.000 |
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Dividend Tax |
0.481 |
0.481 |
0.000 |
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BALANCE CARRIED
TO THE B/S |
165.632 |
156.545 |
141.025 |
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EARNINGS IN
FOREIGN CURRENCY |
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Export Earnings |
11.049 |
5.646 |
4.174 |
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Commission Earnings |
3.652 |
3.150 |
8.408 |
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TOTAL EARNINGS |
14.701 |
8.796 |
12.582 |
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IMPORTS |
76.048 |
119.864 |
93.937 |
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Earnings Per
Share (Rs.) |
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Expected Sales (2010-2011) : Rs.600.000 Millions
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
4.73
|
8.77
|
9.97
|
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Net Profit Margin (PBT/Sales) |
(%) |
9.17
|
8.03
|
16.26
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Return on Total Assets (PBT/Total Assets} |
(%) |
11.5
|
14.53
|
22.15
|
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Return on Investment (ROI) (PBT/Networth) |
|
0.17
|
0.21
|
0.42
|
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Debt Equity Ratio (Total Liability/Networth) |
|
0.69
|
0.69
|
1.06
|
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Current Ratio (Current Asset/Current Liability) |
|
3.31
|
3.12
|
2.32
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LOCAL AGENCY FURTHER INFORMATION
Details of Sundry Creditors:
|
Particulars |
31.03.2010 (Rs. in millions) |
31.03.2009 (Rs. in millions) |
31.03.2008 (Rs. in millions) |
|
Sundry Creditors: Purchase |
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Total outstanding
dues of small scale industries undertaking |
24.271 |
20.703 |
49.140 |
|
Total outstanding
dues of creditors other than small scale industries undertaking |
10.330 |
10.276 |
8.430 |
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Sundry Creditors
: Consumables |
0.699 |
8.801 |
0.203 |
|
Sundry Creditors
: Expenses |
5.998 |
3.002 |
4.714 |
|
Sundry Creditors
: Others |
10.669 |
4.977 |
11.294 |
YEAR IN REVIEW
The Year 2009-10 was a challenging year Global recession resulted in
caution across industry segments in
The reduction of capital spending impacted Material Handling Equipment
sales significantly. The company experienced negative growth in Stackers, Dock
Levellers and Lift Tables in particular.
The company however witnessed a robust growth in the sales of Feri which
was positioned well with customized options to cater to different applications
There was a growth in revenue of Service and Spares during the year against
previous year.
In the Feri product segment, the company developed several variants of.
Feris were sold to and well accepted by Airports, Railway Stations,
Defence establishments and Archeological Society of India. New and high profile
customers added during the year include Rashtrapati Bhavan, Hampi World
Heritage, Madhya Pradesh Van Vihar Park,
The company offered exclusive Feri fleet rental service at Aero India
2009
The company launched FERI RAV range and S-Ton Tow truck with
FROST and SULLIVAN report on Strategic Opportunities in the
The company continued its effort to provide after sales service support
to its customers. Several new customers were added to the Complete Customer
Care (CCC) program.
Several cross functional team initiatives were launched during the year
as part of continuous improvement effort to offer better value to customers.
Turnover:
The year witnessed weak domestic economy, capital goods spending cuts
resulting in low demand for company’s products leading to price and margin
erosion. The company ended the year by achieving a turnover of Rs.473.786
millions against turnover of Rs.576.242 millions in the year 2008-09.
The Company registered robust sales growth of over 100% for Battery
Operated In-Campus Vehicles (FERI). There was a sharp increase in sales
turnover from Rs.34.100 Millions in 2008-09 to Rs.71.200Millions in 2009-10.
PROFIT
The Profit for the year 2009-10 was Rs.43.291 millions against
Rs.5107.300 millions in the previous year The impact of profit for the year was
a result of lower sales revenue, higher than average discount on product sales
and static fixed costs
FUTURE PROSPECTS
There are encouraging signs of economy recovering since Mar 2010 The
companies have restored their capital spend plans which is expected to spur
demand There is also an increasing preference to locally manufactured products
against low cost imports due to easy availability of service and spare parts.
The company has prepared strategic plans to participate in the fast growing
segment of Fork Lifts and Reach Trucks which is required in large volumes in
almost all industry segments The company has planned to offer storage and
racking products from its group company Armes Maim to offer customers one stop
solution in warehousing
The company is in the process of revamping the sales and marketing
network to prepare the organization for increasing market share The Company has
initiated steps to improve plant productivity for improved utilization of
available capacity.
The company is investing into enhancing various business processes by
deployment of software tools to leverage technology for growth. These include
CRM software for Sales and Marketing process management, ECM software for
Service management and Mini ERP solution for manufacturing resource planning.
The above efforts are expected to help the company achieve planned
growth and stay ahead of competition consistently.
Bankers Charges
Report as per Registry
|
Corporate
identity number of the company |
U60231KA1984PTC006017 |
|
Name of the
company |
MAINI MATERIALS
MOVEMENT PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
Vi Floor, |
|
This form is for |
Modification of
charge |
|
Charge
identification number of the modified |
10059221 |
|
Type of charge |
Book Debts Others Plant and
Machinery and Stocks |
|
Particular of
charge holder |
Citibank NA, 506-507, Level 5, Prestige Meridian 2, M |
|
Nature of
description of the instrument creating or modifying the charge |
Deed of
Modification Memorandum of
Entry |
|
Date of
instrument Creating the charge |
16.07.2010 |
|
Amount secured by
the charge |
Rs.112.000
Millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest Such rate as
agreed between the company and the bank from time to time Terms of
Repayment Working capital
facilities repayable on demand Margin 44% against
machinery 36% against
Stocks 44% against Book
Debts or such other
margin as agreed between the company and the bank from time to time Extent and
Operation of the charge First exclusive
charge on current assets, movable assets and immovable assets Others |
|
Short particulars
of the property charged |
Hyp. of whole
movable fixed assets including Plant &Machinery, furniture & fixture etc.,
current assets including stocks of raw materials, goods in process of
manufacture, finished & manufactured goods; Present and
future book debts, outstanding Monies, receivables, claims, bills,
investments, rights to or on moveable properties and moveable assets forming
part of current assets Present and
future book debts, outstanding Monies, receivables, claims, bills,
investments, rights to or on moveable properties and moveable assets forming
part of current assets Collateral
Security of immovable property at Sy.No.32, |
|
Date of latest
modification prior to the present modification |
14.08.2007 |
|
Particulars of
the present modification |
Working Capital Limits
enhanced from Rs.100 Millions to Rs.112.000 Millions. Security stands extended to the enhanced
limits and all other terms and conditions remains uncahnged. |
FIXED ASSETS
·
·
Buildings
·
Plant and Machinery
·
Factory Equipment
·
Electrical Installation
·
Furniture and Fixture
·
Office Equipment
·
Computer and Peripherals
·
Production development Centre
·
Vehicles
·
Technical Know-How
WEBSITE DETAILS:
PROFILE:
Subject is an ISO 9001:2000 certified company belonging to
the Maini Group and based in
Over the years they have consistently and successfully
pioneered solutions which are efficient and environment friendly. This way they
believe in contributing for a better tomorrow. Company this day is a multi
product and a multifaceted company, manufacturing a wide range of in-plant
Material Handling Equipment and offering related services.
A well equipped infrastructure and an all
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.44.99 |
|
|
1 |
Rs.73.24 |
|
Euro |
1 |
Rs.62.80 |
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 |
7 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
53 |
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.