REVISED REPORT
1. Summary Information
|
|
|
Country |
|
|
Company Name |
D R POLYMERS
LIMITED |
Principal Name 1 |
Mr. Dinesh Kumar
Jain |
|
Status |
Satisfactory |
Principal Name 2 |
Mrs. Rekha Jain |
|
|
|
Registration # |
55-43773 |
|
Street Address |
101, D. R.
Complex, |
||
|
Established Date |
03.04.1991 |
SIC Code |
-- |
|
Telephone# |
91-11-45023000 |
Business Style 1 |
Importers |
|
Fax # |
91-11-25923001/25923009 |
Business Style 2 |
Trader |
|
Homepage |
Product Name 1 |
PP Polypropylene |
|
|
# of employees |
50 (Approximately) |
Product Name 2 |
HDPE High-Density
Polyethylene |
|
Paid up capital |
Rs.
35,533,000/- |
Product Name 3 |
LLDPE Linear
Low-Density Polyethylene |
|
Shareholders |
Bodies Corporate 21% Directors or relatives of directors 79% |
Banking |
ING Vysya Bank Limited |
|
Public Limited Corp. |
-- |
Business Period |
20 Years |
|
IPO |
-- |
International Ins. |
- |
|
Public |
-- |
Rating |
Ba |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
CEO |
|
Associates
|
|
Jain Polymers |
-- |
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2009 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
467,284,000 |
Current Liabilities |
168,136,000 |
|
Inventories |
225,825,000 |
Long-term Liabilities |
383,071,000 |
|
Fixed Assets |
26,876,000 |
Other Liabilities |
7,797,000 |
|
Deferred Assets |
0000 |
Total Liabilities |
559,004,000 |
|
Invest& other Assets |
0000 |
Retained Earnings |
125,448,000 |
|
|
|
Net Worth |
160,981,000 |
|
Total Assets |
719,985,000 |
Total Liab. & Equity |
719,985,000 |
|
Total Assets (Previous Year) |
800,857,000 |
|
|
|
P/L Statement as of |
31.03.2009 |
(Unit: Indian Rs.) |
|
|
Sales (Excluding Other Income) |
1657,151,000 |
Net Profit |
13,807,000 |
|
Sales (Excluding Other Income) (Previous yr) |
1689,226,000 |
Net Profit(Prev.yr) |
11,002,000 |
MIRA
INFORM REPORT
|
Report Date : |
07.05.2011 |
Note : Registered
office of the company has been shifted from 101, D. R. Complex, Mansarover
Garden, New Delhi - 110 015, India to the present address w.e.f. 16.02.2011
IDENTIFICATION DETAILS
|
Name : |
D R POLYMERS
LIMITED |
|
|
|
|
Registered Office : |
71/7, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.03.2009 |
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|
|
|
Date of Incorporation : |
03.04.1991 |
|
|
|
|
Com. Reg. No.: |
55-43773 |
|
|
|
|
CIN No.: [Company
Identification No.] |
U74899DL1991PLC043773 |
|
|
|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
DELD02448F |
|
|
|
|
Legal Form : |
A Closely Held
Public Limited Liability Company |
|
|
|
|
Line of Business : |
Importers and
Traders of Plastic Raw Material |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (48) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
|
|
|
|
|
Maximum Credit Limit : |
USD 640000 |
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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 and reputed 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.
INFORMATION PARTED BY
|
Name : |
Mr. M S Bandari |
|
Designation : |
Head in Accounts |
|
Date : |
21.05.2008 |
LOCATIONS
|
Registered
Office : |
71/7, |
|
Tel. No.: |
91-11-45023000 |
|
Fax No.: |
91-11-25923001/25923009 |
|
E-Mail : |
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|
Website : |
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|
Area: |
400 sq ft (Owned) |
|
|
|
|
Head Office ( |
C-24, |
|
Tel. No.: |
91-11-45023000 |
|
Fax No.: |
91-11-25923009 |
|
E-Mail : |
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|
|
|
Warehouse |
The subject is
having six Warehouses in and around |
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|
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|
Branch Offices
: |
Plot No. 52, Sector -18, Gurgaon, Haryana |
|
Tel. No.: |
91-124-2348485/2345836/2399880 |
|
Tele Fax No.: |
91-124-4014877 |
|
Email ID: |
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Branch Offices
: |
A-13, Phase-II, Near |
|
Tel. No.: |
91-120-3208908 |
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Fax No.: |
91-120-3043438 |
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E-Mail ID: |
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Branch Offices
: |
Village Gularwala, Post-Karunava, Near |
|
Tel. No.: |
91-179-5322461 |
|
Mobile No.: |
91-9318672277 |
|
E-Mail ID: |
DIRECTORS
As on 14.09.2009
|
Name : |
Mr. Dinesh Kumar
Jain |
|
Designation : |
Managing Director |
|
Address : |
GB- 24 Shivaji
Enclave, |
|
Date of
Birth/Age : |
22.01.1961 |
|
Qualification: |
Graduate |
|
Date of
Appointment : |
03.04.1991 |
|
DIN No. : |
0037352 |
|
|
|
|
Name : |
Mrs. Rekha Jain |
|
Designation : |
Director |
|
Address : |
GB- 24 Shivaji
Enclave, |
|
Date of
Birth/Age : |
21.10.1966 |
|
Qualification: |
Graduate |
|
Date of
Appointment : |
15.04.1994 |
|
DIN No. : |
00037354 |
|
|
|
|
Name : |
Mr. Shreyansh
Dinesh |
|
Designation : |
Director |
|
Address : |
GB- 24 Shivaji
Enclave, |
|
Date of
Birth/Age : |
01.04.1989 |
|
Date of
Appointment : |
01.01.2008 |
|
DIN No. : |
02162122 |
KEY EXECUTIVES
|
Name : |
Rajiv Singh and
Company |
|
Designation : |
Company Secretary |
|
Address : |
615 Sanjay
Enclave, Opposite GTK Bus Depot, |
|
Tel. No.: |
91-11-27631955 |
|
|
|
|
Name : |
Mr. Kiran bala |
|
Designation : |
Company Secretary |
|
Address : |
113, |
|
Date of Birth/Age : |
06.02.1971 |
|
Date of Appointment : |
01.07.2006 |
|
Email : |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As On (14.09.2009)
|
Names of Shareholders |
|
No. of Shares |
|
Dinesh Kumar Jain |
|
192420 |
|
Rekha Doshi |
|
37295 |
|
Mukesh Bakodia |
|
535 |
|
Gurdeep Kaur |
|
10 |
|
Kaur Kuldeep |
|
10 |
|
Gurpal Singh |
|
10 |
|
Manyak Rastoji |
|
10 |
|
Sunil Kumar
Rastogi |
|
10 |
|
Paramjit Singh |
|
10 |
|
Ankush Holding
Limited |
|
75000 |
|
Mirdul Rastogi |
|
10 |
|
Priyanka Rastogi |
|
10 |
|
Hitesh Kothari |
|
50000 |
|
Total |
|
355330 |
As On (30.09.2009)
|
Equity Share
breakup (percentage of total equity) |
|
|
Category |
Percentage |
|
Bodies Corporate |
21.00 |
|
Directors or relatives of directors |
79.00 |
|
Total
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Importers and
Traders of Plastic Raw Material |
|
|
|
|
Products : |
v
PP Polypropylene v
PPCP v
HDPE High-Density
Polyethylene v
LLDPE Linear Low-Density
Polyethylene v
LDPE Low-Density Polyethylene v
Delrin v
Poly Carbonate v
SAN v
Nylon6 v
Acrylic v
Ethyl Vinyl Acetate (EVA) v
Acrylonitrile –
Butadiene-Styrene Copolymer (ABS) v
General Purpose Polystyrene
(GPPS) v
High-Impact
Polystyrene (HIPS) |
|
|
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Imports : |
|
|
Products : |
Raw materials,
ABS Powder, Polystryne Powder PVC, Poly Carbonate Nylon and Acrylic |
|
Countries : |
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Terms : |
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|
Purchasing : |
L/C |
GENERAL INFORMATION
|
Suppliers : |
·
Bayer MaterialScience ·
·
GAIL ( ·
KEPITAL ·
Supreme
Petrochem Limited |
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Customers : |
Retailers v
Maruti
Udyog Limited v
Hyundai v
Samsung
v
Whirlpool v
Hero
Honda Motors Limited v
L. G.
Electronics v
Bajaj
Electricals Limited |
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No. of Employees : |
50 (Approximately) |
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Bankers : |
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Facilities : |
Rs In Millions
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Banking
Relations : |
Satisfactory |
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Auditors : |
|
|
Name : |
Chander Parkash
and company Chartered
Accountants |
|
Address : |
207, |
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Tel. No.: |
91-11-25731059 /
25731060 |
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Mobile No.: |
91-9810056108 |
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Fax No.: |
91-11-25741070 /
41539570 |
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E-Mail : |
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Associates/Subsidiaries : |
v
Jain Polymers v
Doshi Plastic Industries and
Investment v
D R Builders and Promoters
Private Limited v
D R International Private
Limited v
D R Plastics v
Asu Ben v Gems International |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
500000 |
Equity Shares |
Rs.100/- Each |
Rs.50.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
355330 |
Equity Shares |
Rs.100/- Each |
Rs.35.533
millions |
|
|
|
|
|
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 |
35.533 |
35.533 |
30.533 |
|
|
2] Share
Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves &
Surplus |
125.448 |
112.163 |
81.571 |
|
|
4] (Accumulated
Losses) |
0.000 |
0.000 |
0.000 |
|
NETWORTH
|
160.981 |
147.696 |
112.104 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
337.312 |
436.065 |
251.585 |
|
|
2] Unsecured
Loans |
45.759 |
61.192 |
28.893 |
|
TOTAL BORROWING
|
383.071 |
497.257 |
280.478 |
|
|
DEFERRED TAX
LIABILITIES |
1.027 |
1.456 |
1.622 |
|
|
|
|
|
|
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TOTAL
|
545.079 |
646.410 |
394.204 |
|
|
|
|
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APPLICATION OF FUNDS
|
|
|
|
|
|
|
|
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FIXED ASSETS [Net Block]
|
26.876 |
27.384 |
27.567 |
|
Capital work-in-progress
|
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
INVESTMENT
|
0.000 |
0.000 |
0.000 |
|
DEFERREX TAX ASSETS
|
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS &
ADVANCES
|
|
|
|
|
|
|
Inventories
|
225.825
|
263.414
|
149.373
|
|
|
Sundry Debtors
|
247.789
|
289.999
|
245.947
|
|
|
Cash & Bank Balances
|
3.439
|
3.162
|
4.232
|
|
|
Other Current Assets
|
95.808
|
153.155
|
65.208
|
|
|
Loans & Advances
|
120.248
|
63.743
|
18.692
|
Total Current Assets
|
693.109
|
773.473
|
483.452
|
|
Less :
CURRENT LIABILITIES & PROVISIONS
|
|
|
|
|
|
|
Current Liabilities
|
168.136
|
148.478
|
112.377
|
|
|
Provisions
|
6.770
|
5.970
|
4.438
|
Total Current Liabilities
|
174.906
|
154.448
|
116.815
|
|
Net Current Assets
|
518.203
|
619.025
|
366.637
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES
|
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
TOTAL
|
545.079 |
646.409 |
394.204 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2009 |
31.03.2008 |
31.03.2007 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
1657.151 |
1689.226 |
1446.299 |
|
|
|
Other Income |
17.076 |
20.944 |
1.552 |
|
|
|
TOTAL (A) |
1674.227 |
1710.170 |
1447.851 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Purchase |
1583.727 |
1612.278 |
1377.523 |
|
|
|
Administrative Expenses |
18.639 |
30.934 |
18.703 |
|
|
|
Selling and Distribution Expenses |
12.548 |
9.873 |
10.520 |
|
|
|
Preliminary Expenses |
0.000 |
0.000 |
0.010 |
|
|
|
TOTAL (B) |
1614.914 |
1653.085 |
1406.756 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
59.313 |
57.085 |
41.095 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
37.232 |
38.957 |
23.976 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
22.081 |
18.128 |
17.119 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
1.934 |
1.321 |
1.213 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
20.147 |
16.807 |
15.906 |
|
|
|
|
|
|
|
|
|
Less |
TAX (I) |
6.340 |
5.805 |
5.321 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-I) (J) |
13.807 |
11.002 |
10.585 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
37.93 |
30.96 |
34.67 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2009 |
31.03.2008 |
31.03.2007 |
|
PAT / Total Income |
(%) |
0.82 |
0.64
|
0.73 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
1.22 |
0.99
|
1.10 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.80 |
2.10
|
3.11 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.13 |
0.11
|
0.14 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
3.47 |
4.41
|
3.54 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
3.96 |
5.01
|
4.14 |
LOCAL AGENCY FURTHER INFORMATION
The subject is an
authorised distributor to the following companies:
- Bayer ABS Limited
- Supreme Petrochem
Limited
- Gas Authority of India
Limited
- Reliance Industries
Limited
- Haldia Petrochemicals
Limited
- L. G. Chemicals
- Bayer,
- Bharti
- Sansung
- Maruti
BUSINESS
The subject is
engaged in the business of Importers and Traders of Plastic Raw Material,
Plastic Granules and specialised in Engineering Plastic Raw Material.
The Company is
dealing in ABS Polystyrene Powder, Polycarbide & Polythene Power. They are
direct importers of Polystryne Powder PVC & ABS Powder.
They are authorised
distributors for Bayer ABS Limited, Supreme Petrochem Limited and Celcon Acetal
Copolymer.
Fixed Assets
·
Godowns
and Properties
·
Vehicles
Commercial Vehicles
·
Furniture
and Fittings
·
Office
Equipments
·
Computer
and Software
·
Plant
and Machinery
Bankers Charges
Report as per Registry
|
Corporate
identity number of the company |
U74899DL1991PLC043773 |
|
Name of the
company |
D R POLYMERS
LIMITED |
|
Address of the
registered office or of the principal place of business in |
71/7, |
|
This form is for |
Creation
of charge |
|
Type of charge |
·
Book
debts ·
Floating
charges |
|
Particular of charge
holder |
Yes Bank Limited,
9th Floor, Nehru Centre, Discovery of India, Dr. Annie Besant
Road, Worli, Mumbai – 400018, Maharashtra, India |
|
Nature of
instrument creating charge |
Deed of
hypothecation dated March 16, 2011 |
|
Date of
instrument Creating the charge |
16.03.2011 |
|
Amount secured by
the charge |
Rs. 100.000
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest SLC/ ULC/ BC/
SID/ PID/ WCDL/ CC: To be decided at the time of disbursement Terms of
repayments Sight Letter of
Credit (SLC)/ Usance Letter of Credit (ULC)/ Buyer's Credit (BC)/ Sales Invoice
Discounting (SID)/ Purchase Invoice Discounting (PID): NA Working Capital
Demand Loan (WCDL): Bullet repayment at the end of the tenor Cash Credit (CC):
Payable on demand Margin SLC/ ULC: 5% in
the form of Fixed Deposit Receipts duly lien marked in favour of Yes Bank
Limited BC/ PID: NA SID: 5% of
Invoice value WCDL/ CC: 25% on
[Book Debts (not more than 120 days old) plus Stocks minus Creditors] Extent
and operation of the charge First Pari Passu Charge on all Current Assets of the Borrower (both
present and future) |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
First Pari Passu
Charge on whole of Current Assets of the Borrower's stocks of raw material,
semi-finished & finished goods, stores & spares, bills receivables
& book debts (both present and future) |
As per Website
Details:
Profile :
The management
and team promoted by Mr. Dinesh Jain (Marwari Breed) in 1991 as a first
generation entrepreneur.
TEAM: Marketing executives/financial/accounts personal supported by a
team of agg. 50 odd peoples working in a fully computerised environment and a
supply chain at all three places to ensure an uniterrupted and timely execution
of orders catering to
Branches: In Noida and Gurgaon feeding MNC's (viz. Maruti, Hyundai,
Samsung, Whirlpool, Hero Honda, L.G. and other big names in auto, appliances
and other plastics related industry) and its OEM.
Infrastructure: The corporate office situated at
Their main focus is on single window solutions to the needs of small/big
customers for their all polymer needs.
Associations: They are authorized distributors for the BAYER ABS, GAIL,
GSFC,
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.44.78 |
|
|
1 |
Rs.73.42 |
|
Euro |
1 |
Rs.65.27 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
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 |
|
48 |
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.