MIRA
INFORM REPORT
|
Report Date : |
03.05.2011 |
IDENTIFICATION DETAILS
|
Name : |
CMS TRAFFIC SYSTEMS LIMITED |
|
|
|
|
Registered
Office : |
203, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2009 |
|
|
|
|
Date of
Incorporation : |
10.11.1994 |
|
|
|
|
Com. Reg. No.: |
11-082773 |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74999MH1994PLC082773 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMC05247E |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company. |
|
|
|
|
Line of Business
: |
Manufacturer and Seller of |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (49) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 89000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track. Trade
relations are 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 : |
203, |
|
Tel. No.: |
91-22-22851580/ 67489071/ 39819155/ 22334494 |
|
Fax No.: |
91-22-22042734/ 67489000 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Head Quarters : |
|
|
Tel. No.: |
91-22-30780222/ 333 |
|
Fax No.: |
91-22-25950169 |
|
|
|
|
Factory 1 : |
Located at: Chiplun, |
|
|
|
|
Branches : |
Located at: ·
Mumbai ·
·
Chennia ·
·
Kolkata ·
·
Pune ·
|
DIRECTORS
As on 29.12.2009
|
Name : |
Mr. Ramesh Dutt Grover |
|
Designation : |
Director |
|
Address : |
1, Revills, 45, Cuffe Parade, Mumbai-400005, |
|
Date of Birth/Age : |
01.05.1945 |
|
Date of Appointment : |
10.11.1944 |
|
DIN No.: |
00173603 |
|
|
|
|
Name : |
Mr. Raju Ramesh Grover |
|
Designation : |
Additional Director |
|
Address : |
1, Revills, 45, Cuffe Parade, Mumbai-400005, |
|
Date of Birth/Age : |
08.09.1951 |
|
Date of Appointment : |
01.08.2009 |
|
DIN No.: |
01584366 |
|
|
|
|
Name : |
Mr. Varun Kumar Prasad |
|
Designation : |
Director |
|
Address : |
15, Jal Kiran, Cuffe Parade, Mumbai-400005, |
|
Date of Birth/Age : |
23.08.1951 |
|
Date of Appointment : |
10.11.1994 |
|
Date of Ceasing: |
22.08.2010 |
|
DIN No.: |
00173790 |
|
|
|
|
Name : |
Mrs. Aarti Ramesh Grover |
|
Designation : |
Additional Director |
|
Address : |
1, Revills, 45 Cuffe Parade, Mumbai-400005, |
|
Date of Birth/Age : |
06.08.1977 |
|
Date of Appointment : |
30.08.2010 |
|
DIN No.: |
02625342 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 29.12.2009
|
Names of Shareholders |
|
No. of Shares |
|
Ramesh Grover |
|
10 |
|
Raju Ramesh Grover |
|
10 |
|
Vishal Ramesh Grover |
|
2010 |
|
Aarti Ramesh Grover |
|
10 |
|
Money Ease Capital Private Limited, |
|
897940 |
|
CMS-Ident Private Limited, |
|
10 |
|
CMS- DITL Limited, |
|
10 |
|
Total |
|
900000 |
Equity Share Breakup (Percentage of Total Equity)
As on 30.09.2009
|
Category |
Percentage |
|
Bodies corporate |
99.77 |
|
Other top fifty shareholders |
0.23 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Seller of |
||||||
|
|
|
||||||
|
Products : |
|
PRODUCTION STATUS AS ON 31.03.2008
|
Particulars |
Unit |
|
|
Actual
Production |
|
Thermoplastic Road Marketing Material |
Kgs. |
|
|
438478 |
GENERAL INFORMATION
|
Bankers : |
State Bank of Indore, Commercial Branch, Mittal Court, ‘B’ Wing,
Ground Floor, Nariman Point, Mumbai-400021, Maharashtra, India |
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Facilities : |
|
|||||||||||||||||||||||||||
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
N. D. Kapur and Companyd Chartered Accountant |
|
Address : |
65, |
|
Tel. No.: |
91-22-22676744 |
|
Fax No.: |
91-22-22676744 |
|
E-Mail : |
|
|
|
|
|
Holding Company : |
Money Ease Capital Private Limited, U65920MH1995PTC084883 |
|
|
|
|
Group Companies: |
|
|
|
|
|
Subsidiaries : |
Kaycee Industries Limited L70102MH1942PLC006482 |
CAPITAL STRUCTURE
As on 31.03.2009
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
900000 |
Equity Shares |
Rs. 10/- each |
Rs. 9.000 Millions |
|
100000 |
16% Preference Shares |
Rs. 10/- each |
Rs. 1.000 Millions |
|
|
Total |
|
Rs. 10.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
900000 |
Equity Shares |
Rs. 10/-
each |
Rs. 9.000
Millions |
|
|
(897940 Equity Shares are held by Money Ease
Capital Private Limited) |
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2009 |
31.03.2008 |
31.03.2007 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
9.000 |
9.000 |
9.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
13.297 |
13.090 |
11.602 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
22.297 |
22.090 |
20.602 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
31.307 |
31.670 |
34.112 |
|
|
2] Unsecured Loans |
54.678 |
54.604 |
52.955 |
|
|
TOTAL BORROWING |
85.985 |
86.274 |
87.067 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
108.282 |
108.364 |
107.669 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
19.478 |
14.734 |
13.411 |
|
|
Capital work-in-progress |
1.439 |
7.389 |
7.389 |
|
|
|
|
|
|
|
|
INVESTMENT |
23.500 |
23.500 |
23.500 |
|
|
DEFERREX TAX ASSETS |
1.111 |
1.110 |
1.482 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
71.437
|
13.967 |
23.802 |
|
|
Sundry Debtors |
111.363
|
118.917 |
71.339 |
|
|
Cash & Bank Balances |
1.425
|
3.997 |
11.494 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
14.078
|
13.375 |
14.799 |
|
Total
Current Assets |
198.303
|
150.256 |
121.434 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
111.199
|
58.081 |
44.723 |
|
|
Other Current Liabilities |
21.423
|
28.610 |
13.240 |
|
|
Provisions |
2.927
|
1.934 |
1.584 |
|
Total
Current Liabilities |
135.549
|
88.625 |
59.547 |
|
|
Net Current Assets |
62.754
|
61.631 |
61.887 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
108.282 |
108.364 |
107.669 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2009 |
31.03.2008 |
31.03.2007 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
179.758 |
209.654 |
256.184 |
|
|
|
Other Income |
1.857 |
2.210 |
0.636 |
|
|
|
TOTAL (A) |
181.615 |
211.864 |
256.820 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Materials |
43.017 |
74.939 |
122.579 |
|
|
|
Employee Cost |
36.249 |
30.197 |
24.118 |
|
|
|
Operating and Other Expenses |
92.969 |
98.072 |
98.658 |
|
|
|
TOTAL (B) |
172.235 |
203.208 |
245.355 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
9.380 |
8.656 |
11.465 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES (D) |
5.039 |
4.384 |
5.625 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
4.341 |
4.272 |
5.840 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
1.491 |
1.178 |
1.594 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
2.850 |
3.094 |
4.246 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
2.643 |
1.606 |
2.755 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
0.207 |
1.488 |
1.491 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
6.190 |
4.702 |
3.211 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
6.397 |
6.190 |
4.702 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
0.000 |
9.450 |
85.050 |
|
|
|
Commission Earnings |
|
|
|
|
|
|
Other Earnings |
|
|
|
|
|
TOTAL EARNINGS |
0.000 |
9.450 |
85.050 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
4.776 |
5.014 |
15.664 |
|
|
|
Traded Goods |
0.267 |
4.741 |
12.055 |
|
|
TOTAL IMPORTS |
5.043 |
9.755 |
27.719 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
0.23 |
1.65 |
1.66 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2009 |
31.03.2008 |
31.03.2007 |
|
PAT / Total Income |
(%) |
0.11
|
0.70 |
0.58 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
1.59
|
1.48 |
1.66 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.31
|
1.88 |
3.15 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.13
|
0.14 |
0.21 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
9.94
|
7.92 |
7.12 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.46
|
1.70 |
2.04 |
LOCAL AGENCY FURTHER INFORMATION
Note:
The Registered office of the company has been shifted from 201,
Background:
Subject is a company registered under the Indian Companies Act, 1956 in
the year 1996. The company is engaged in the business of
Review of
Operations:
The
Contingent Liabilities:
|
Particulars |
31.03.2009 Rs. in Millions |
|
Disputed |
0.838 |
|
Disputed Income Tax Matter |
0.100 |
|
Disputed ESIC matter |
0.299 |
|
Total |
1.237 |
Bankers Charges
Report as per Registry
|
Corporate
identity number of the company |
U74999MH1994PLC082773 |
|
Name of the
company |
CMS TRAFFIC SYSTEMS LIMITED |
|
Address of the registered
office or of the principal place of
business in |
201, |
|
This form is for |
Modification of
Charge |
|
Type of charge |
Hypothecation |
|
Particular of charge
holder |
State Bank of Indore, Commercial Branch, Mittal Court, ‘B’ Wing,
Ground Floor, Nariman Point, Mumbai-400021, Maharashtra, India |
|
Amount secured by
the charge |
Rs. 85.000
Millions |
|
Brief of the principal
terms an conditions and extent and operation of the charge |
Cash Credit – Rs.
20.000 Millions at BPLR, Margin – 25% Letter of Credit
– Rs. 20.000 Millions, Margin - 10% Performance /
Financial Guarantee- Rs. 30.000 Millions, Margin -10% Total – Rs.
70.000 Millions Extent of
operation- secure the above and all other moneys at any time payable by the
borrower to the bank under of in
respect of all or some or any of the aforesaid credit facilities granted or
to be granted. |
|
Description of
the property charged indicating whether it is a charged on |
Plant and
Machinery Book Debts |
|
Particulars of
the property charged |
Hypothecation/
Charge on the current assets including in
particular all stocks of Raw Material,
Semi finished goods and finished goods lying at the godown at or any where in
India lying loose or in cases or in transit, all bok debts and receivables.
Hypothecation by way of charge on all machinery, plant and equipments present
and future at company’s location at Plot No. C-2/3, Gane Khandpli Industrial
Area, Chiplun, District- Ratnagiri and Plot No. W-324, MIDC, Rabale, Navi
Mumbai |
|
Charge
identification number of the charge to be modified |
90214159 |
Fixed Assets:
·
·
Building
·
Plant and Machinery
·
Jigs, Moulds and Dies
·
Air Conditioners
·
Furniture, Fixture and
Fittings
·
Vehicles
·
Electrical and Office
Equipments
·
Computer
·
Computer Software
AS PER WEBSITE
Profile:
CMS Computers Limited is a leading IT solutions provider in the country
offering wide range of solutions and services across various verticals in
technology solutions consulting and business systems integration involving road
traffic signals automation and transport management systems, electronic and
security systems, card printing and card personalization ,broadcasting and
maintenance services for technology solutions , peripherals, and accessories to
the valuable clients.
CMS has varied skills to provide innovative solutions to the customers
in different industry segments and has a strong hold on the domestic client
base comprising of various private corporations, government companies and
PSU's.
Operating from 15 branch locations and 80 support centers, CMS supports over
300 customers nationally. They have RandD centers with over 100 personnel’s
involved in Research and Development, developing custom products such as EDM,
Kiosk, Security,Energy meters andTraffic systems. CMS is also actively engaged
in Software development and export to Europe and
The philosophy is to provide the best services (24 x 7 x 365). and maintain
global standards of Quality by offering services that will be considered an
industry benchmark while providing value for money and business.
Business Model
The business model is customer oriented , where the various businesses are
evolved from the customer needs. They help the customers respond quickly to
changing market dynamics and increase their competitiveness.
Milestone:
- CMS bags an
export order for 2.1 million USD for supply and installation of Traffic
Signals from the Government of Guyana before the Cricket world cup there.
- CMS-Telvent
JV bags the single largest Order in
- CMS Bags the
order of more than INR17 Million for major ITS deployment in the city of
- CMS Bags the
order for 30 Variable messaging signs across the city of
- CMS commission
the first automated parking system at
- CMS
introduces Intelligent signals in the market and the first Demo was given
to MMRDA.
- CMS bags the
order for Delhi ATC expansion.(second phase).
- CMS bags
Order worth INR 30 million for Thermoplastic Road Marking from Mukand
Limited
- CMS Bags
order worth INR 30 million for thermoplastic road marking material for
NH-48 and ITD cementation.
- Awarded
Single largest contract for Traffic Signal in Tamilnadu for INR 34
Million.
- Awarded
further orders for Electronic Toll Collection and Emergency Telephone
System for other National Highways.
- CMS
recognized as premier manufacturer of Thermoplastic Road Marking Material
and Machines.
- ISO 9001:2000
certifcation for all countrywide offices and manufacturing unit at
Bhugaon, Pune.
- CMS bagged
first Electronic Toll Collection order for Project Management in
Mumbai-Pune Expressway.
- Emergency
Telephone System was inaugurated in July at Mumbai-Pune Expressway.
- Bagged Orders
for LED based Traffic Signal from
- CMS foray
into Intelligent Transport System -
- First CCTV
order bagged from LandT for MNW Project.
- Introduction
of Automatic Vehicle Counter and Classifier System.
- Introduction
of Variable Message Sign System.
- CMS
positioned herself as the premier System Integrator for Advance Traffic
Management System.
- Obtained ISO
9002 Certification.
- Introduction
of LED based Signal Aspect
- Introduction
of most modern technique in traffic systems.: The SCOOT based Area Traffic
Control System in National Capital Region,
- Introduction
of 3 New Products:
- Upcountry
Signals.
- Solar Based
Blinker.
- Count Down
Timer
- Bagged the
biggest contract of Thermoplastic Road Marking in Mumbai for 15,000 Sq.Mt.
- Execution of
Private sponsored projects of signal installation.
- Introduction
of BOT scheme in
- Installation
of Vehicle Actuated Signals in
- Bagged the
biggest maintenance contract of 500 signals in
- Entered into
Export Market - supplied Polycarbonate Aspects to Hong Kong and
- Entered into
- Setting up of
R and D at Mumbai, Pune and
- Implementation
of synchronization/co-ordination of traffic signals along major corridors
of Mumbai - First in
- Formation of
Traffic System Division of CMS Computers.
- Development
and introduction of Polycarbonate Aspects first time in
- Bagged the
first contract for 109 Road Traffic Signal installations in Mumbai.
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.44.30 |
|
|
1 |
Rs.73.89 |
|
Euro |
1 |
Rs.65.57 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
49 |
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.