1. Summary Information
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|
|
Country |
|
|
Company Name |
SAGARI LEATHERS
PRIVATE LIMITED |
Principal Name 1 |
Prasenjit Kumar
Gupta |
|
Status |
Satisfactory |
Principal Name 2 |
Tara BIndra |
|
|
|
Registration # |
|
|
Street Address |
17, Kucha Chaudhry, |
||
|
Established Date |
14.10.1985 |
SIC Code |
-- |
|
Telephone# |
91-11-22366279/22253069 |
Business Style 1 |
Manufacturers of
Leather Uppers |
|
Fax # |
91-11-22266315 |
Business Style 2 |
-- |
|
Homepage |
-- |
Product Name 1 |
-- |
|
# of employees |
600 |
Product Name 2 |
-- |
|
Paid up capital |
9,995,000 |
Product Name 3 |
-- |
|
Shareholders |
Ingrid Maria Gujral - 71117 |
Banking |
Canara Bank |
|
Public Limited Corp. |
-- |
Business Period |
25 years |
|
IPO |
--- |
International Ins. |
- |
|
Public |
--- |
Rating |
Ba (
54) |
|
Related
Company |
|||
|
Relation
-- |
Country
-- |
Company
Name |
-- |
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2010 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
56,065,000 |
Current Liabilities |
82,309,000 |
|
Inventories |
44,953,000 |
Long-term Liabilities |
49,734,000
|
|
Fixed Assets |
111,298,000 |
Other Liabilities |
-- |
|
Deferred Assets |
144,000 |
Total Liabilities |
132,043,000 |
|
Invest& other Assets |
-- |
Retained Earnings |
70,422,000 |
|
|
|
Net Worth |
80,417,000 |
|
Total Assets |
212,460,000 |
Total Liab. & Equity |
212,460,000 |
|
Total Assets (Previous Year) |
196,833,000 |
|
|
|
P/L Statement as of |
31.03.2010 |
(Unit: Indian Rs.) |
|
|
Sales |
486,705,000 |
Net Profit |
23,205,000 |
|
Sales(Previous yr) |
386,952,000 |
Net Profit(Prev.yr) |
19,754,000 |
MIRA
INFORM REPORT
|
Report Date : |
19.03.2011 |
IDENTIFICATION DETAILS
|
Name : |
SAGARI LEATHERS PRIVATE LIMITED |
|
|
|
|
Registered Office : |
17, Kucha
Chaudhry, Opp. State Bank Building, Chandni Chowk, |
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Country : |
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|
|
|
Financials (as on) : |
31.03.2010 |
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|
|
|
Date of Incorporation : |
14.10.1985 |
|
|
|
|
Com. Reg. No.: |
55-22229 |
|
|
|
|
CIN No.: [Company
Identification No.] |
U74899DL1985PTC022229 |
|
|
|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
DELS20907F |
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|
|
|
Legal Form : |
Private Limited
Liability Company |
|
|
|
|
Line of Business : |
Manufacturers of
Leather Uppers |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba ( 54) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal commitments. |
Satisfactory |
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|
|
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|
Maximum Credit Limit : |
USD 321668 |
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|
Status : |
Satisfactory |
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Payment Behaviour : |
Slow but Correct |
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Litigation : |
Clear |
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|
Comments : |
Subject is an established company having satisfactory track. General
financial position of the company is good. 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 |
|
Restricted |
C2 |
|
Off-credit |
D |
LOCATIONS
|
Registered Office : |
17, Kucha
Chaudhry, |
|
Tel. No.: |
91-11-22366279/22253069/22360783/22368035/22363931/
91-562-2463931/ 2460035 |
|
Fax No.: |
91-11-22266315/
91-562-2266315 |
|
E-Mail : |
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Factory 1 : |
|
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Tel. No.: |
91-11-2369458/2266190 |
|
|
|
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Factory 2 : |
4/73 B, |
DIRECTORS
AS ON 15.07.2010
|
Name : |
Mr. Prasenjit
Kumar Gupta |
|
Designation : |
Director |
|
Address : |
71, Pandav Nagar,
Shahganj, |
|
Date of Birth/Age : |
28.09.1966 |
|
Date of Appointment : |
30.09.2002 |
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|
|
|
Name : |
Mrs. Tara BIndra |
|
Designation : |
Director |
|
Address : |
41, Jor Bagh, |
|
Date of Birth/Age : |
11.04.1944 |
|
Date of Appointment : |
08.09.1998 |
|
|
|
|
Name : |
Ms. Ingrid Maria Gujral |
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Designation : |
Director |
|
Address : |
Reinhardtallee 9, Wentorfbei-21465, |
|
Date of Birth/Age : |
13.06.1946 |
|
Date of Appointment : |
19.11.2007 |
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|
Name : |
Mr. Oliver Wolf Gujral |
|
Designation : |
Director |
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Address : |
Sierichstrasse 140, Hamburg-22299, |
|
Date of Birth/Age : |
03.01.1969 |
|
Date of Appointment : |
19.11.2007 |
MAJOR SHAREHOLDERS
AS ON 15.07.2010
|
Names of Shareholders |
|
No. of Shares |
|
Tara Bindra |
|
38 |
|
Ingrid Maria Gujral |
|
71117 |
|
Gujral Olivira Wolf |
|
28800 |
|
Total |
|
99955 |
Equity Share Breakup (Percentage of Total Equity)
AS ON 15.07.2010
|
Category |
|
Percentage of
Holding |
|
Directors or relatives of directors |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturers of
Leather Uppers |
GENERAL INFORMATION
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Suppliers : |
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No. of Employees : |
About 600 |
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Bankers : |
Canara Bank,
Overseas Branch, Sanjay Place, M G Road, Agra-282002, Uttar Pradesh, India
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
|
|
Name : |
B. S. Agarwal and
Associates Chartered
Accountants |
|
Address : |
B-6/43, 1st
Floor, Safdarjung Enclave, |
CAPITAL STRUCTURE
AS ON 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
10000000 |
Equity Shares |
Rs. 100/- each |
Rs.10.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
9995500 |
Equity Shares |
Rs. 100/-
each |
Rs.9.995
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 |
9.995 |
9.995 |
1.302 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
70.422 |
47.217 |
36.157 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
80.417 |
57.212 |
37.459 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
49.734 |
57.351 |
60.032 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
49.734 |
57.351 |
60.032 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.074 |
0.270 |
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|
|
|
|
|
|
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TOTAL |
130.151 |
114.637 |
97.761 |
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|
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|
|
|
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APPLICATION OF FUNDS |
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|
|
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|
|
|
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|
FIXED ASSETS [Net Block] |
111.298 |
114.656 |
37.303 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.144 |
0.000 |
0.000 |
|
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|
|
|
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
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Inventories |
44.953
|
36.628 |
38.145
|
|
|
Sundry Debtors |
17.153
|
7.399 |
23.502
|
|
|
Cash & Bank Balances |
11.409
|
28.401 |
21.783
|
|
|
Other Current Assets |
24.132
|
7.292 |
18.446
|
|
|
Loans & Advances |
3.371
|
2.457 |
78.654
|
|
Total
Current Assets |
101.018
|
82.177 |
180.530 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
62.787
|
75.605 |
75.605
|
|
|
Other Current Liabilities |
13.916
|
2.803 |
41.466
|
|
|
Provisions |
5.606
|
3.788 |
3.001
|
|
Total
Current Liabilities |
82.309
|
82.196 |
120.072
|
|
|
Net Current Assets |
18.709
|
(0.019) |
60.458
|
|
|
|
|
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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|
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|
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|
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TOTAL |
130.151 |
114.637 |
97.761 |
|
PROFIT & LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
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SALES |
|
|
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|
|
|
|
TOTAL (A) |
486.705 |
386.952 |
374.059 |
|
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|
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|
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|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL (B) |
NA |
NA |
NA |
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|
|
|
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|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
43.505 |
37.778 |
15.233 |
|
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|
|
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|
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|
Less |
FINANCIAL
EXPENSES (D) |
0.000 |
0.000 |
0.000 |
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|
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|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
43.505 |
37.778 |
15.233 |
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Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
7.102 |
7.058 |
5.801 |
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PROFIT BEFORE
TAX (E-F) (G) |
36.403 |
30.720 |
5.753 |
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Less |
TAX (I) |
13.198 |
10.966 |
0.000 |
|
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PROFIT AFTER TAX
(G-I) (J) |
23.205 |
19.754 |
5.753 |
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Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
47.217 |
36.157 |
30.403 |
|
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|
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|
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|
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Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to Share Capital |
0.000 |
8.694 |
0.000 |
|
|
BALANCE CARRIED
TO THE B/S |
70.422 |
47.217 |
36.157 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
4.77
|
5.10 |
1.54
|
|
|
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|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
17.15
|
15.61 |
2.64
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.45
|
0.54 |
0.15
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.64
|
2.44 |
4.81
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.23
|
0.99 |
1.50
|
LOCAL AGENCY FURTHER INFORMATION
Operations:
During the year the company has shown a net profit of
Rs.23.205 Millions as against net profit of Rs.19.754 Millions for previous
year after providing Depreciation, Income Tax, F.B.T and other expenses. The
total turnover of the Company during the period is Rs.486.705 Millions against
the previous year`s figure of Rs.38.6952 Millions. Out of the total Turnover of
Rs.486.705 Millions Rs.484.481 Millions related to export sales and Rs.2.224
Millions related to Complete Shoe, Leather and Scrap sales in
|
This form is for |
Modification of
charge |
|
Charge
identification number of the modified |
90329625 |
|
Corporate
identity number of the company |
U74899DL1985PTC022229 |
|
Name of the
company |
SAGARI LEATHERS PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
17, Kucha
Chaudhry, |
|
Type of charge |
Book Debts Movable Property Others |
|
Particular of
charge holder |
Canara Bank,
Overseas Branch, Sanjay Place, M G Road, Agra-282002, Uttar Pradesh, India
|
|
Nature of
description of the instrument creating or modifying the charge |
Supplemental
Common Hypothecation Agreement |
|
Date of instrument
Creating the charge |
28.03.2008 |
|
Amount secured by
the charge |
Rs. 70.000
Millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest (i)
On PC
and FDB @ 9.50% per annum with monthly rests or at such other rate(s) as may
be notified by the Bank to the borrower form time to time. (ii)
On
Term Loan @ 12.00% per annum with monthly rests or at such other rate(s) as
may be notified by the bank to the borrower form time to time. Terms of Repayment
(i)
Working
Capital – Repayable on demand (ii)
Term
Loan of Rs. 35.000 Millions shall be repayable by 84 monthly installments.
First 83 monthly installments will be of Rs. 0.416 Million each and last 84th
installment will be of Rs.0.414 Million. Interest to be repaid as and when
due each month. Margin 25% on stock 54.25% on Term
Loan (Fresh) Extent and
Operation of the charge The company’s
properties as mentioned hereunder (as per column No. 14) are hypothecated to
secured following credit facilities granted by the bank to the borrower 1. PC Rs. 25.000 Millions 2. FDB Rs. 10.000 Millions 3. Term Loan Rs. 35.000 Millions 4. Total Rs. Rs. 70.000 Millions |
|
Short particulars
of the property charged |
|
|
Date of latest
modification prior to the present modification |
11.02.2006 |
|
Name of the company |
SAGARI LEATHERS PRIVATE LIMITED |
|
Presented By |
Canara Bank, Overseas |
|
1) Date and description of instrument creating the change |
Agreement dated 16.07.1987 and registered on 30.10.1987 |
|
2) Amount secured by the charge/amount owing on the securities of charge |
Rs. 0.800 million |
|
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 |
Sole uppers leathers and leather goods and all movable
goods, work in progress etc. standing in the factory premises of Sagari
Leather Private Limited, Belanganj, |
|
4) Gist of the terms and conditions and extent and operation of the charge. |
1 Personal guarantee of directors 2 The loan should bear a minimum interest at the rate of 9.5 percent and is repayable on demand and margin 30 percent. |
|
5) Name and Address and description of the person entitled to the charge. |
Canara Bank, Overseas Branch, Originally charge created in favour of Canara Bank, M G
Road, Common hypothecation agreement dated 08.10.2005 Earlier modified on 01.12.1991, 12.101991, 31.10.1992, 15.04.1994, 29.06.1994, 29.02.1996, 30.08.2003 and lastly on 01.10.2001 to enhance / reduce the charge up to Rs. 4.500 millions and last modification registered on 15.11.2001 |
|
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. |
i) Over new at the packing credit limit has been enhanced
from Rs. 4.500 million to 7.500 million therefore total amount of charge
secured from re. 4.500to Rs. 7.500 million ii) The securities for the enhance charge of Rs. 7.500 million shall now also includes followings. a) Hypothecation of all stocks of goods such as raw materials, goods in process finished and manufactured goods and other items of socks in trade and stores spares, components, machinery, vehicles, furniture and fixtures and all other situated whether at the borrower’s factories or in transit or in the custody of processors, warehouse agents, or others or wherever else the same may be situated. Lying or being including any such row materials, articles or goods, stores spares, components stock in trade and all description of moveable property in the course of delivery to the borrower b) Hypothecation of all of the borrower’s present and future book debts, outstanding money’s bills receivables, claims, bills, contracts, securities, investments, cash , gold, silver, jewellery rights and assets and rights relating to or in movable properties of whatsoever nature to which the borrower is entitled to during the continuance of this agreement. c) Hypothecation of plant and machinery having value as per valuation report Rs. 20.100 millions iii) interest shall now be charged at nil percent above the ongoing prime landing other terms and conditions remained the same |
|
Corporate
identity number of the company |
U74899DL1985PTC022229 |
|
Name of the
company |
SAGARI LEATHERS PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
17, Kucha
Chaudhry, |
|
This form is for |
Creation of charge
Modification of
charge |
|
Type of charge |
Book Debts Movable Property |
|
Particular of
charge holder |
CANARA BANK |
|
Nature of
instrument creating charge |
Supplemental
Common Hypothecation Agreement. |
|
Date of instrument
Creating the charge |
31/01/2011 |
|
Amount secured by
the charge |
Rs.60.000
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Extent and
Operation of the charge The Company's movable
assets as mentioned hereunder (as per Column No.15) are hypothecated to
secure Packing Credit Limit of Rs.60.000 Millions granted by the Bank to the
Borrower. |
|
Short particulars
of the property charged |
All stocks of
goods such as raw materials, goods in process, finished and manufactured
goods and other items of stock in trade and stores, spars, components,
machinery, vehicles, furniture and fixtures and all other movable goods and
properties of every description of the Borrower wherever situate whether of
the Borrower's factories, places of business, godown or in transit. All the
Borrowers present and future book debts, receivables etc. and Hypo. of
existing plant and machinery having WDV of Rs.27.368 Millions. |
|
Date of instrument
modifying the charge |
08/09/2009 |
|
Particulars of
the present modification |
The Packing
Credit limit has now been enhanced from Rs.500.00 Millions to Rs.60.000
Millions by sanction an adhoc limit of Rs.10.000 Millions. Therefore total
amount of charge secured against hypothecation of all stocks, book debts and
plant and machinery etc as per details mentioned in column n. 15 above has
now been enhanced from Rs.50.000 Millions to Rs.60.000 Millions. |
FIXED ASSETS:
- Building
- Weighing Machine
- Fire Equipment
- Type Writer
- Fans And Cooler
- Photostat Machine
- Clock
- Vehicles
- Furniture And Fixture
- Generator
- Temporary Construction
- Calculator
- Plant And Machinery
- Car
- Computer
- Air Conditioner
- Electronic
- Fax Machine
- Refrigerator
- Water Filter
- Intercom
- Cycle
- Air Compressor
- Cellular
- Leather Measurement
Machine
- EPBX And Delivery Van.
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.45.09 |
|
|
1 |
Rs.72.82 |
|
Euro |
1 |
Rs.63.43 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
7 |
|
--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 |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
54 |
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.