MIRA
INFORM REPORT
|
Report Date : |
11.05.2011 |
IDENTIFICATION DETAILS
|
Name : |
DEGREMONT LIMITED |
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Registered
Office : |
1 Sri Aurobindo Marg, Hauz Khas, New Delhi – 110016, India |
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Country : |
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Financials (as
on) : |
31.03.2009 |
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Date of
Incorporation : |
14.08.1986 |
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Com. Reg. No.: |
55-025120 |
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Capital
Investment / Paid-up Capital : |
Rs.68.003 Millions |
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CIN No : |
U29197DL1986PLC025120 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
DELDO6254D |
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PAN No.: [Permanent Account No.] |
AAACDO136D |
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Legal Form : |
A Closely held Public Limited Liability Company. |
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Line of Business
: |
Supplier of water purifiers |
RATING & COMMENTS
|
MIRA’s Rating : |
B (31) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
USD 339000 |
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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. Profitability
of the company appears to be under pressure. However, trade relations are
reported as fair. Business is active. Payments are reported to be slow. The company can be considered for business dealings with some caution. |
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) |
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|
A1 |
A1 |
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Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
LOCATIONS
|
Registered Office : |
1 Sri Aurobindo Marg, Hauz Khas, New Delhi – 110016, India |
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Tel. No.: |
91-11-42092300 |
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Fax No.: |
91-11-26866040 |
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E-Mail : |
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Website : |
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Corporate Office : |
Ground Floor, Unitech Business Park, Gurgaon – 122001, Haryana, India |
DIRECTORS
AS ON 04.06.2010
|
Name : |
Mr. Deep Chand Anand |
|
Designation : |
Chairman Emeritus |
|
Address : |
No.20, Kilometer Stone, Delhi Gurgaon Road , Gurgaon, India |
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Date of Birth/Age : |
26.08.1933 |
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Date of Appointment : |
15.07.1989 |
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DIN No : |
00090123 |
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Name : |
Mr. Marc Phillppe |
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Designation : |
Director |
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Address : |
B-26, Pushpanjali Farms, Bijwasan, New Delhi – 110061, India |
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Date of Birth/Age : |
01-05-1944 |
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Date of Appointment : |
27.09.1991 |
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Date of Ceasing |
11.12.2009 |
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|
Name : |
Mr. Remi Lantier |
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Designation : |
Director |
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Address : |
84, Rue Blanche, 75009, Paris, France |
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Date of Birth/Age : |
19.04.1953 |
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Date of Appointment : |
14.01.2000 |
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DIN No : |
00238812 |
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Name : |
Mr. Kanwal Krishan Khosla |
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Designation : |
Director |
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Address : |
C-607, New Friends Colony, New Delhi – 110065, India |
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Date of Birth/Age : |
04.04.1933 |
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Date of Appointment : |
11.12.2000 |
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DIN No : |
00817907 |
|
Name : |
Mr. Deepak Chopra |
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Designation : |
Chairman |
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Address : |
788, Anfilco Housing Colony, Anand Farm, Palam, Gurgaon Road, Dundahera, Gurgaon, Haryana |
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Date of Birth/Age : |
25.12.1954 |
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Date of Appointment : |
31.08.2006 |
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DIN No : |
00028770
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Name : |
Mr. Philippe Degand |
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Designation : |
Director |
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Address : |
24, Br Oger Bourg La Reine, 92340, France |
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Date of Birth/Age : |
18.03.1959 |
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Date of Appointment : |
31.08.2006 |
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DIN No : |
00659983 |
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Name : |
Mr. Francois Fevrier |
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Designation : |
Director |
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Address : |
15, Rue Victor Cousin, Paris, France 75005 |
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Date of Birth/Age : |
16.03.1961 |
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Date of Appointment : |
30.09.2008 |
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DIN No : |
02321127 |
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Name : |
Mr. Ronald Sabbag |
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Designation : |
Director |
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Address : |
71-73, Rue De Chezy, Neully Sur Seine France 92200 |
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Date of Birth/Age : |
30.12.1950 |
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Date of Appointment : |
29.06.2009 |
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DIN No : |
02339672 |
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Name : |
Mr. Xavier Boulat |
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Designation : |
Director |
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Address : |
16, Rue, Charles Rhone, Saint Germain En Laye, France, 78100 |
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Date of Birth/Age : |
03.11.1965 |
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Date of Appointment : |
29.06.2009 |
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DIN No : |
02720745 |
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Name : |
Mr. Gullaume Mizon |
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Designation : |
Director |
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Address : |
150, Rue Du Temple, Paris, France, 75003 |
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Date of Birth/Age : |
01.05.1971 |
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Date of Appointment : |
29.06.2009 |
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DIN No : |
02696209 |
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Name : |
Mr. Aditya Narayan |
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Designation : |
Director |
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Address : |
B-20/2, DLF City, Phase –I, Gurgaon, Haryana - 12002 |
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Date of Birth/Age : |
08.01.1952 |
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Date of Appointment : |
29.06.2009 |
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DIN No : |
0012084 |
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Name : |
Ms. Pooja Sehgal Mehtani |
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Designation : |
Company Secretary |
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Address : |
110-B, First Floor, Krishna Nagar, Safdarjung Enclave, New Delhi –
110029 |
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Date of Birth/Age : |
17.12.1977 |
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Date of Appointment : |
19.09.2005 |
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Name : |
Mr. Pramod Bapna |
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Designation : |
Manager Director
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Address : |
S-465, 1st Floor, Greater Kailash-11, New Delhi – 110048 |
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Date of Birth/Age : |
05.03.1967 |
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Date of Appointment : |
14.09.2010 |
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DIN No : |
00508214 |
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Email Id : |
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Name : |
Mr. Jacques Andre Blein |
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Designation : |
Director |
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Address : |
16, Rue Pasteur, Le Vesinet, France, 78100 |
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Date of Birth/Age : |
22.08.1959 |
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Date of Appointment : |
11.12.2009 |
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DIN No. |
02919709 |
KEY EXECUTIVES
|
Name : |
Ms. Pooja Sehgal Mehtani |
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Designation : |
Company Secretary |
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Address : |
110-B, First Floor, Krishna Nagar, Safdarjung Enclave, New Delhi –
110029 |
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Date of Birth/Age : |
17.12.1977 |
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Date of Appointment : |
19.09.2005 |
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PAN No : |
ABFPB6862R |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 29.06.2009
|
Names of Shareholders |
|
No. of Shares |
|
Mohan Gupta |
|
1 |
|
Poomima Gupta |
|
4395 |
|
Srinivas Kishore |
|
101 |
|
Eshwar Chandra Agrawala |
|
1 |
|
Indu Agarwala |
|
1 |
|
Alka Goel |
|
1 |
|
Degemont S.A |
|
346200 |
|
Vari Finance Private Limited (India) |
|
800 |
|
Asia Investment Private Limited (India) |
|
326955 |
|
Demayanti C Patel |
|
150 |
|
K Mani |
|
150 |
|
Prabha S Kshetrapal |
|
150 |
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S.M. Chandani |
|
125 |
|
Mona Sawhney |
|
150 |
|
Alok Kukreja |
|
75 |
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Samir Kukreja |
|
75 |
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Sarla Chawla |
|
150 |
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Kavita Tuli |
|
125 |
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Anita Singal |
|
125 |
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V.K.Batra |
|
300 |
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Total |
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680030
|
AS ON 30.06.2010
|
Category |
Percentage |
|
Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s),
Non-resident Indian(s) or Overseas Corporate bodies or Others |
50.91 |
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Bodies corporate |
48.08 |
|
Other top fifty shareholders |
1.01 |
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Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Supplier of water purifiers |
GENERAL INFORMATION
|
Bankers : |
·
Calyon Bank, 6th Floor, Birla Tower,
25 Barakhamba Road, New Delhi-110001, India. ·
BNP Paribas, 15,Barakhamba Road, New Delhi. |
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Facilities : |
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Banking
Relations : |
- |
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Financial
Institute : |
Societe Generale, 6th Floor, Mohandev, 13, Tolstoy Marg,
New Delhi – 110001, India |
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Auditors : |
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Name : |
S. P. Puri and Company Chartered Accountant |
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Address : |
4/18, Asaf Ali Road, New Delhi – 110002, India |
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Holding Company
: |
Degremont Sa France |
CAPITAL STRUCTURE
AS ON 31.12.2009
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
1000000 |
Equity Shares |
Rs.100/- each |
Rs.100.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
680030 |
Equity Shares |
Rs.100/-
each |
Rs.68.003
Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.12.2009 (12 Months) |
31.12.2008 (9 Months) |
31.03.2008 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
68.003 |
68.003 |
68.003 |
|
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
16.678 |
18.203 |
29.697 |
|
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
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NETWORTH |
84.681 |
86.206 |
97.700 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
593.384 |
252.096 |
76.820 |
|
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2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
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TOTAL BORROWING |
593.384 |
252.096 |
76.820 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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|
|
|
|
|
|
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TOTAL |
678.065 |
338.302 |
174.520 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
22.658 |
43.046 |
42.061 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.000 |
0.000 |
0.000 |
|
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DEFERREX TAX ASSETS |
30.970 |
25.461 |
14.284 |
|
|
|
|
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|
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
7.347
|
76.344 |
36.290 |
|
|
Sundry Debtors |
1852.022
|
1306.529 |
932.845 |
|
|
Cash & Bank Balances |
103.727
|
31.611 |
268.992 |
|
|
Other Current Assets |
3.601
|
3.366 |
2.061 |
|
|
Loans & Advances |
269.384
|
359.077 |
260.420 |
|
Total
Current Assets |
2236.08
|
1776.927 |
1500.608 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
757.780
|
671.708 |
0.000 |
|
|
Other Current Liabilities |
817.165
|
802.144 |
1356.589 |
|
|
Provisions |
36.698
|
33.280 |
25.844 |
|
Total
Current Liabilities |
1611.643
|
1507.132 |
1382.433 |
|
|
Net Current Assets |
624.437
|
269.795 |
118.175 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
678.065 |
338.302 |
174.520 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.12.2009 (12 Months) |
31.12.2008 (9 Months) |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Sales and Services |
2706.957 |
1521.051 |
1323.014 |
|
|
|
Other Income |
12.740 |
2.076 |
75.582 |
|
|
|
TOTAL (A) |
2719.697 |
1523.127 |
1398.596 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Purchases |
660.908 |
407.942 |
478.276 |
|
|
|
Engineering and Site Works |
801.461 |
403.357 |
339.581 |
|
|
|
Freight (increase/Decrease in Store) |
59.078 |
46.390 |
54.152 |
|
|
|
Material in Hand |
68.997 |
(40.053) |
(4.846) |
|
|
|
Other Project Expenses |
377.899 |
222.567 |
176.103 |
|
|
|
Insurance |
10.063 |
7.852 |
8.006 |
|
|
|
Staff Cost |
241.266 |
159.400 |
129.271 |
|
|
|
Other Expenses |
352.364 |
258.651 |
159.473 |
|
|
|
Royalty |
7.066 |
7.695 |
7.900 |
|
|
|
Provision for Guarantee Claims and Losses |
2.520 |
3.263 |
4.146 |
|
|
|
TOTAL (B) |
2581.622 |
1477.064 |
1352.062 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
138.075 |
46.063 |
46.534 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
112.565 |
45.357 |
29.904 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
25.510 |
0.706 |
16.630 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
19.332 |
12.502 |
11.380 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
6.178 |
(11.795) |
5.250 |
|
|
|
|
|
|
|
|
|
Less |
TAX (I) |
7.702 |
0.516 |
5.032 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-I) (J) |
(1.524) |
(11.279) |
0.218 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
(8.327) |
3.168 |
2.949 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Tax on Corporate Dividend |
0.000 |
0.216 |
0.000 |
|
|
|
Transfer from General Reserve |
(16.678) |
0.000 |
0.000 |
|
|
BALANCE CARRIED
TO THE B/S |
6.827 |
(8.327) |
3.167 |
|
|
|
|
|
|
|
|
|
|
Basic and
diluted earnings Per Share (Rs.) |
(2.24) |
(16.59) |
0.32 |
|
KEY RATIOS
|
PARTICULARS |
|
31.12.2009 (12 Months) |
31.12.2008 (9 Months) |
31.03.2008 |
|
PAT / Total Income |
(%) |
(0.05)
|
(0.74) |
0.01 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
0.22
|
(0.77) |
0.39 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.27
|
(0.64) |
0.34 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.07
|
(0.13) |
0.05 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
26.03
|
20.40 |
14.93 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.38
|
1.17 |
1.08 |
LOCAL AGENCY FURTHER INFORMATION
Performance :
During the calendar year 31st December 2009, the company has
achieved a turnover of Rs.2719.70 Million which reflects the company has a growth
of 34% on an annualized basis over the previous year. The Profit before tax for
the calendar year ended 31.12.2009 was Rs.6.18 Million as compared to a loss
before tax of Rs.11.79 in the nine months ended 31.12.2008.
Form 8 :
|
Corporate identity number of the company |
U29197DL1986PLC025120 |
|
Name of the company |
DEGREMONT LIMITED |
|
Address of the registered office or of the
principal place of business in |
1Sri Aurobindo Marg,
Hauz Khas, New Delhi-110016, India Email Id : degremont.limited@degremont.com |
|
This form is for |
Creation of charge |
|
Type of charge |
Book debts Others |
|
Particular of charge holder |
Societe Generale, 6th Floor,
Mohandev, 13, Tolstoy Marg, New Delhi – 110001, India Email Id : kishor.kalra@socgen.com |
|
Nature of instrument creating charge |
Agreement of Hypothecation of stocks/goods
and book debts in favour of societe generale bank dated 1st
September, 2010 |
|
Date of instrument Creating the charge |
01.09.2010 |
|
Amount secured by the charge |
Rs.200.000 Millions |
|
Brief of the principal terms an conditions
and extent and operation of the charge |
Rate
of interest 2% over bank’s prime lending rate(presently
rate being 14.5%) plus interest tax aggregating to 16.5% p.a with monthly
rests until further notice in writing will be charged on a daily balance. Terms
of repayment The Hypothecated securities and debts are
hypothecated as security by way of pari passu charge for the due repayment by
the borrower to the bank at any time on the said limits for the payment of
all debts and liabilities of the borrower to the bank including all interest
thereon calculated from day to day at the rate mentioned and the amount of
all charges and expenses which the bank may have paid or incurred or become
liable in any way in connection with
the hypothecated securities and debts. Margin The borrower shall at all times during the
continuation of this security keep and maintain margins of security. The
borrower shall not at any time operate or draw against the account so as to
cause a debit balance on such account at any time to exceed such percentages
that the bank may from time to time fix of the cost or market value whichever
is lower of the hypothecated securities as specified by the bank from time to
time. Extent
and operation of the charge Charge ranks pari passu with charges of
BNP Paribas and credit Agricole Corporate and investment bank. Borrower shall
give full particulars of all assets and debts and of the hypothecated
securities (H.S) and all of the borrower in reference thereto and also allow
them to value the same. All costs charges and expenses incurred by the bank and
incidental to such inspection and valuation shall be paid by the borrower. Other
Borrower shall at its risk and expense
keep the hypothecated securities in marketable and good condition and shall
fully insure them against fire, theft, and other risks including riots as the
bank may at any time require. All securities shall be kept free from Distress
by the borrower and in default the bank will be entitled to pay the same and
debit to the account of the borrower. |
|
Short particulars of the property charged
(Including location of the property) |
Machinery, Instruments, Devices, Fitting
and Materials which may be combined with manufacturing operations,
Maintenance or dealing with business of cleaning and treatment of water and
liquid waste. All the above including stocks there of
for the time being whether raw or manufactured or in the process of
manufacture and all items manufactured including any such goods in the course
of continued. Transit of delivery and all movable
property of any kind in or about the premises, warehouse, godowns of the
borrower in Delhi/Gurgaon or wherever else the same may be held by any party. All book debts, outstanding, money
receivable, claims and bills which are now due and wing or which may at ay
time after during the continuance of this security become due and owing to
the borrower. |
Fixed Assets:
·
Building
·
Leasehold Improvements
·
Furniture and Fixtures
·
Plant and Machinery
·
Vehicles
·
Temporary Structure at site
·
Computer
Intangible Assets
·
Computer Software
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.44.70 |
|
|
1 |
Rs.73.20 |
|
Euro |
1 |
Rs.63.90 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
31 |
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.