MIRA
INFORM REPORT
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Report Date : |
20.05.2011 |
IDENTIFICATION DETAILS
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Name : |
RED BULL INDIA PRIVATE LIMITED |
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Registered Office : |
1st Floor. B Wing, 215 Atrium, Chakala, Andheri Kurla Road,
Andheri (East), Mumbai 400059, Maharashtra |
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Country : |
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Financials (as on) : |
31.12.2009 |
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Date of Incorporation : |
03.04.2007 |
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Com. Reg. No.: |
11-169580 |
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Capital
Investment / Paid-up Capital : |
Rs.23.600
millions |
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CIN No.: [Company
Identification No.] |
U51909mh2007ftc169580 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
Mumr21838f |
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PAN No.: [Permanent
Account No.] |
Aadcr5842h |
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Legal Form : |
Private Limited Liability Company
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Line of Business : |
Distributors and importers
of energy Drinks |
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No. of Employees
: |
50 Approximately |
RATING & COMMENTS
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MIRA’s Rating : |
B (28) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
USD 144000 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate track record. There
appears some accumulated losses being recorded by the company. Trade
relations are fair. Business is active. Payments are reported slow. The company can be considered for business dealings with some caution.
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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
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Name : |
Mr. Ashish Dodeya |
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Designation : |
Accounts Officer |
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Date : |
19.05.2011 |
LOCATIONS
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Registered Office : |
1st Floor. B Wing, 215 Atrium, Chakala, Andheri Kurla Road,
Andheri (East), Mumbai 400059, Maharashtra, India |
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Tel. No.: |
91-22-66180888 |
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Fax No.: |
91-22-66180808 |
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Email: |
morris@littlecompany.com ankit.paleja@littlecompany.com ananth.venkatesan@ap.redbull.com ananth@ap.redbull.com ananth.rb@redbull.com chunder.khator@in.redbul.com ananth.venkatesan@in.redbull.com |
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Website : |
www.trendsupdates.com |
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Area : |
2000 sq.ft |
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Location: |
Owned |
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Corporate Office : |
1st Floor, B wing, 215 Artium Kanakia Space, Chakala,
Andheri (E), Mumbai – 400059, Maharashtra, India |
DIRECTORS
As on: 30.06.2010
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Name : |
Mr. Rudolf Josef Theirel |
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Designation : |
Director |
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Address : |
Gansbichlstrasse, |
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Date of Birth/Age : |
16.11.1949 |
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Date of Appointment : |
03.04.2007 |
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E-Mail : |
cornelia.reschenhofer@at.redbull.com |
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Name : |
Mr. Zubin Sohrab Morris |
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Designation : |
Director |
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Address : |
Motabhoy Mansion, Flat No. 1, Ground Floor, Mahrashi Kave road, Churchgate, Mumbai 400 020,
Maharashtra |
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Date of Birth/Age : |
17.03.1964 |
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Date of Appointment : |
03.04.2007 |
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Date of Cessation : |
28.07.2008 |
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E-Mail: |
morris@littlecompany.com |
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Directorship in other Companies : |
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CIN of Company |
U72300MH1996PTC103206 |
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Name of Company |
Bloomberg Data Services India Private Limited |
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Designation |
Director |
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CIN of Company |
U92120MH2005PTC156063 |
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Name of Company |
Bloomberg Television Production Services India Private Limited |
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Designation |
Director |
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Name : |
Mr. Shreyas Mahendra Patel |
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Designation : |
Director |
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Address : |
12, Mount unique 62-A, |
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Date of Birth/Age : |
28.03.1969 |
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Date of Appointment : |
03.04.2007 |
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Date of Ceasing : |
27.09.2007 |
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Directorship in other Companies : |
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CIN of Company |
U74210MH2006PTC16104 |
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Name of Company |
Sandwell India Consulting Engineers Private limited |
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Designation |
Director |
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Name : |
Mr. Ananth Venkatesan |
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Designation : |
Director |
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Address : |
Flat No. 67, 6th Floor, A Wing, highway Apartments, Sion (East), Mumbai =- 400 022, |
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Date of Birth/Age : |
05.05.1975 |
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Date of Appointment : |
27.09.2007 |
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Date of Cessation: |
31.05.2010 |
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E-mail: |
ananth.venkatesan@ap.redbull.com |
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Name : |
Mr. Bhaskar Sharma |
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Designation : |
Director |
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Date of Birth/Age : |
47 years |
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Qualification: |
Master in Management |
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Date of Appointment : |
04.01.2010 |
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E-Mail : |
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KEY EXECUTIVES
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Name : |
Mr. Ashish Dodeya |
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Designation : |
Accounts Officer |
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Name : |
Mr. Kuster |
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Designation : |
Accounts Manager |
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Tel No.: |
91-22-66180812 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 30.06.2010
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Names of Shareholders |
No. of Shares |
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Red Bull GmbH, Austria |
2359999 |
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Red Bull Hangar -7 GmbH, Austria |
1 |
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Total
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2360000 |
As on: 30.06.2010
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Equity
Share Breakup |
Percentage of
Holding |
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Category
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Foreign holdings
[Foreign institutional investors, Foreign Companies, Foreign Financial
Institutions, Non-resident Indian or Overseas corporate bodies or others] |
100.00 |
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Total
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100.00 |
BUSINESS DETAILS
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Line of Business : |
Distributors and importers
of energy Drinks |
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Products : |
Generic name of
principle product of the company
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Terms : |
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Selling : |
Cash, Credit (30-60-90 Days) |
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Purchasing : |
Cash, Credit (30-60-90 Days) |
GENERAL INFORMATION
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Customers : |
·
Wholesalers ·
Retailers ·
End Users ·
OEM’s |
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No. of Employees : |
50 Approximately |
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Bankers : |
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Facility: |
Rs. In Millions
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Banking
Relations : |
--- |
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Auditors : |
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Name : |
BSR and associates Chartered Accountants |
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Address 1: |
KPMG House, Kamala Mills Compound, 448, Senapati Bapat Marg, Lower
Parel, Mumbai – 400 013, |
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Address 2: |
Jalan Mill Compound, 95 Ganpatrao Kadam MArg, Lower PArel, Mumbai
400013, Maharashtra, India |
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Tel. No.: |
91-22-39896000 |
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Fax No.: |
91-22-39836000 |
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Holding Company : |
Red Bull GmbH Address: AM Brunnen 1, 5330, Fuschl Am See, Austria |
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Fellow Subsidiaries : |
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CAPITAL STRUCTURE
As on: 31.03.2009
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
|
4500000 |
Equity Shares |
Rs. 10/- each |
Rs. 45.000 millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
|
2150000 |
Equity Shares |
Rs. 10/-
each |
Rs.21.500
millions |
(Of the above, 2,149,999 (2008: 649,999) shares are held by Red Bull
GmbH, Austria, the holding company and 1 share (2008: 1) is held by Red Bull
Hangar 7)
As on: 30.06.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
4500000 |
Equity Shares |
Rs. 10/- each |
Rs. 45.000 millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
2360000 |
Equity Shares |
Rs. 10/-
each |
Rs.23.600
millions |
FINANCIAL DATA
[all figures are in
Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.12.2009 |
31.12.2008 |
31.12.2007 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
21.500 |
6.500 |
6.500 |
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2] Share Application Money |
140.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
135.000 |
0.000 |
0.000 |
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4] (Accumulated Losses) |
[260.386] |
[108.497] |
[34.968] |
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NETWORTH |
36.114 |
[101.997] |
[28.468] |
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LOAN FUNDS |
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1] Secured Loans |
0.000 |
0.000 |
0.000 |
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2] Unsecured Loans |
155.000 |
110.000 |
43.000 |
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TOTAL BORROWING |
155.000 |
110.000 |
43.000 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
191.114 |
8.003 |
14.532 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
110.517 |
41.781 |
1.519 |
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Capital work-in-progress |
104.687 |
9.398 |
9.679 |
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INVESTMENT |
0.000 |
0.000 |
0.000 |
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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 |
89.848
|
38.441 |
32.568 |
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Sundry Debtors |
41.447
|
103.186 |
25.623 |
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Cash & Bank Balances |
1.971
|
1.065 |
0.983 |
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Other Current Assets |
0.000
|
0.000 |
0.000 |
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Loans & Advances |
111.622
|
21.519 |
9.612 |
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Total
Current Assets |
244.888
|
164.211 |
68.786 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditors |
205.721
|
115.659 |
0.000 |
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Current Liabilities |
55.694
|
85.605 |
65.159 |
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Provisions |
7.563
|
6.123 |
0.293 |
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Total
Current Liabilities |
268.978
|
207.387 |
65.452 |
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Net Current Assets |
[24.090]
|
[43.176] |
3.334 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
191.114 |
8.003 |
14.532 |
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PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.12.2009 |
31.12.2008 |
31.12.2007 |
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SALES |
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Sales |
483.684 |
458.337 |
34.844 |
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Other Income |
0.000 |
0.000 |
0.000 |
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TOTAL (A) |
483.684 |
458.337 |
34.844 |
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Less |
EXPENSES |
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Cost of Materials |
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Manufacturing Expenses |
628.603 |
530.204 |
69.252 |
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Employees Remuneration |
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Increase/(Decrease) in Finished Goods |
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TOTAL (B) |
628.603 |
530.204 |
69.252 |
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Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
[144.919] |
[71.867] |
[34.408] |
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Less |
FINANCIAL
EXPENSES (D) |
NA |
NA |
NA |
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PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
[144.919] |
[71.867] |
[34.408] |
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Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
NA |
NA |
NA |
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PROFIT BEFORE
TAX (E-F) (G) |
[144.919] |
[71.867] |
[34.408] |
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Less |
TAX (H) |
6.971 |
1.661 |
0.561 |
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PROFIT AFTER TAX
(G-H) (I) |
[151.890] |
[73.528] |
[34.969] |
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IMPORTS |
|
|
|
|
|
|
|
Traded Goods |
216.060 |
145.801 |
NA |
|
|
|
Capital Goods |
135.133 |
31.151 |
NA |
|
|
|
Others |
3.989 |
7.213 |
NA |
|
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|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
[169.00] |
[113.00] |
[53.79] |
|
KEY RATIOS
|
PARTICULARS |
|
31.12.2009 |
31.12.2008 |
31.12.2007 |
|
PAT / Total Income |
(%) |
[31.40]
|
[16.04] |
[100.36] |
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Net Profit Margin (PBT/Sales) |
(%) |
[29.96]
|
[15.67] |
[98.75] |
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|
Return on Total Assets (PBT/Total Assets} |
(%) |
[40.77]
|
[33.37] |
[43.02] |
|
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|
Return on Investment (ROI) (PBT/Networth) |
|
[4.01]
|
0.70 |
1.21 |
|
|
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|
|
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|
Debt Equity Ratio (Total Liability/Networth) |
|
11.73
|
[3.11] |
[3.81] |
|
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|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.91
|
0.79 |
1.05 |
LOCAL AGENCY FURTHER INFORMATION
SUNDRY CREDITORS
DETAILS
Rs. In Millions
|
Particulars |
31.12.2009 |
31.12.2008 |
31.12.2007 |
|
|
|
|
|
|
Sundry Creditors |
205.721
|
115.659 |
0.000 |
FINANCIAL RESULTS
During the
Financial Year January 1, 2009 to December 31, 2009 the Company has affected
sales of Rs. 483.683 millions against sales of Rs. 458.337 millions during the previous
Financial Year. The Company has incurred a loss after tax of Rs. 151,889,527
during the Financial Year.
The
Management is presently implementing a plan to increase turnover and improve
profitability and its financial position by strengthening its distribution
network and building awareness of its product through various marketing
activities to increase domestic revenues. Further the parent company, Red Bull
GmbH, Austria has provided financial support by providing security in respect
of loan by the Company from its Indian bankers and extend credit for purchases
from the Group. Red Bull GmBH has also through a letter of support agreed to
provide financial assistance to the Company for its future operations.
Company's
unwavering focus on quality, innovation and differentiation backed by deep
consumer insights, world-class R&D and an
efficient and responsive supply chain will further strengthen its leadership
position in the Indian Energy Drink industry. A superior management team, innovative
marketing techniques, and strive for innovation is expected to reinforce the
Companys position in the industry, taking it to the next league of growth.
change of address:
Note:
Registered office of the company has been shifted from No RF-1, Kakad Chambers Annex, 132 Annie Besant Road, Worli, Mumbai 400018, India to the present address w.e.f. 25.01.2010.
FIXED ASSETS:
·
Leasehold Improvements
·
Computers
·
Furniture and Fixtures
·
Office Equipment
·
Marketing Assets
·
Vehicles
press releases:-
Red Bull
considering pullout from Formula One next year
Barcelona, May 11 (DPA) Red Bull owner Dietrich Mateschitz, who finances the Red Bull formula one team, has said he is considering not entering a team next year if the sport's governing body FIA insisted on the proposed budget cap.
FIA had earlier said that they would implement a 40 million pounds ($61 million dollars) budget cap.
Several teams have already spoken out against the controversial plan, with Mateschitz being the latest.
In an interview made available ahead of publication in Monday's Salzburger Nachrichten, Mateschitz said that if the proposed plans were kept in place, he would not enter a team.
Teams have to say whether they will race next year by May 29.
'Conditions at the moment are not so, that we would enter a team for next year,' Mateschitz said.
Earlier Sunday,
Presently only BrawnGP, Williams and possibly Force
FIA boss Max Mosley and the team principals are to meet in
FDA cracks down on energy drink 'Red
Bull'
Posted online:
Wednesday, July 13, 2005 at 1615 hours IST
Mumbai, July 13: Maharashtra Food and Drug Administration have
prohibited the sales of 'Red Bull', an energy drink, following complaints that
the product's main ingredient taurine is an animal derivative, which the
company denies saying it is derived synthetically.
"We have
received complaints that the products main ingredient taurine is an animal
extract. We have therefore prohibited the sales of the drink till the company
gets a certificate from a certified authority in the country that the drink
does not contain any animal derivative," FDA commissioner M Ramesh Kumar
said here today.
Kumar said as
per information available with FDA, taurine is an animal origin product,
produced by the synthesis of amino acids in the body.
"We do not
have information as to whether taurine used in Red Bull is synthetically derived.
Till we receive a clarification from the Austrian-based company the prohibition
on the sale of the product in the state would continue," he said.
The company, in
its website claims that the drink is vegetarian and all ingredients used are
synthetically derived.
Kumar said that
FDA would allow sales of the drink if the company changes the labelling of the
product and carries red DOT on the label which signifies that a product has
non-vegetarian ingredients in it.
A 250 ml can of
the drink contains ‘round 1,000 mg of taurine’ and the Austria-based company
claims that the drink improves mental and physical performance.
Caffeine hits
energy drinks Nidhi Jamwal
Maharashtra food regulators seize consignments energy drinks
sold in restaurants and grocery stores have caught the eye of food regulators
in
“According to preliminary reports, caffeine content in the energy drinks is
much higher than the permissible limit of 200 parts per million (ppm),” said
Suhas D Chaudhary, fda’s joint commissioner in charge of Greater Mumbai.
The limit for carbonated non-alcoholic beverages has been set under the Prevention of Food Adulteration (pfa) Rules, 1955. In the case of Red Bull, the caffeine content in one can is 300 ppm. The samples are being tested in the laboratory, Chaudhary said.
The test results are expected in mid-May and could lead to a ban on the sale of
the drinks.
Energy drinks have caffeine, sugar and herbal stimulants (see box: ‘What are energy drinks?’); they are popular among young people for combating fatigue.
Beverage or proprietary food:
Their popularity notwithstanding, there are no food
standards governing energy drinks in
The pfa Act dates back to 1954 and so does not prescribe norms for them. Manufacturers use this loophole to challenge the categorization of the product as a carbonated drink.
“Energy drinks are non-alcoholic proprietary food. This is mentioned on the Red
Bull’s can. We are meeting all regulations for such food items like labelling
and nutrition,” a spokesperson of Red Bull India Pvt Ltd said. Other
manufacturers refused to comment on the guidelines they follow.
The pfa rules however do not specify standards and regulations for proprietary
food products except that their labels ought to display nutritional content of
the product. The pfa defines proprietary food products as those that have not
been standardized. It means these products can be marketed without adhering to
any scientific standards, an official said.
fda does not buy the claims made
by the manufacturers of energy drinks being proprietary food. It insists that
energy drinks belong to the carbonated drinks category. “Any beverage that
contains carbon dioxide is a carbonated beverage and needs to follow the
caffeine limit prescribed by pfa rules,” the fda official said.
Proprietary food includes packaged food, supplements, probiotics and energy
drinks. There is no clarity on the category for these food products under pfa
rules (see ‘The new food chain’, Down
to Earth, February 15, 2005).
The government did enact a comprehensive legislation—The Food Safety and
Standards Act—in 2006 (see box:‘ Yet to be notified’) to plug this loophole.
But it has not been implemented. The Act aims to provide scientific standards
for a range of products including processed food, genetically modified food and
proprietary food. It also prescribes rules for manufacture, storage and
distribution of such products. Deputy Director of Food and Safety Standards
Authority of India, Anil Mehta, said the Act is not in force as the
accompanying rules and regulations have not been framed. He said the Act would
be notified by end of the year and the pfa and other food legislations would be
repealed.
Safety not proved
Energy drinks are considered particularly harmful when mixed with alcohol as they mask the effect of alcohol. Persons who drink the cocktail think they are sober and alert even if they are inebriated.
Countries like
A number of studies have questioned the safety of the beverage. A study by the
Cardiovascular Research Centre at
Students are known to guzzle the drink to stay awake during examinations. A BSc
final year student of
The European Commission's scientific committee on food in 2003 said caffeine
levels in energy drinks are safe but more studies are needed to assess the
risks posed by other ingredients like taurine, an amino acid, and
glucuronolactone. A 2006 study in the
"There is no concrete scientific evidence on health effects of energy drinks
but it is known that high caffeine leads to health problems," said M S
Kamath, a Mumbai-based physician. In spite of growing number of studies that
question their safety, energy drinks are doing brisk business in all countries
including
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.44.98 |
|
|
1 |
Rs.72.68 |
|
Euro |
1 |
Rs.64.16 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
2 |
|
--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 |
|
28 |
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 |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.