MIRA
INFORM REPORT
|
Report Date : |
12.11.2011 |
IDENTIFICATION DETAILS
|
Name : |
ANABOND REVOCOAT INDIA PRIVATE LIMITED (w.e.f. 28.04.2009) |
|
|
|
|
Formerly Known
As : |
ANABOND ESSEX INDIA PRIVATE LIMITED |
|
|
|
|
Registered Office
: |
Cadastre No. 82, RE Survey No: 26/2, Thirubuva, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
17.03.1997 |
|
|
|
|
Com. Reg. No.: |
59-1304 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.18.672
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24299PY1997PTC001304 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturing Paints Shop, Body Shop, Trim Shop and Direct Glazing
Sealants for Automobile Manufacturing Companies. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 280000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track. Trade
relations are reported as fair. Business is active. Payments are reported to be
usually correct and as per commitments. The company can be considered normal for business dealings at usual
trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – September 30, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
|
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/ Factory : |
Cadastre No. 82, RE Survey No: 26/2, Thirubuva, |
|
Tel. No.: |
91-413-2640774 |
|
Fax No.: |
91-413-2640775 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Head Office : |
No. 38, Teachers Colony, |
|
Tel. No.: |
91-44-24452612 / 42115238 |
|
Fax No.: |
91-44-24452732 |
DIRECTORS
As on 06.05.2011
|
Name : |
Mr. Janakiraman Vijaya Kumar |
|
Designation : |
Managing Director |
|
Address : |
41/2D, Athreya Apartments, |
|
Date of Birth/Age : |
07.09.1951 |
|
Date of Appointment : |
17.03.1997 |
|
DIN No.: |
00039987 |
Other Directorship
|
S.No. |
CIN |
Name of the
Company |
Current
designation of the director |
Date of
appointment at current designation |
Original date of
appointment |
Date of
cessation |
Company Status |
Defaulting
status |
|
1 |
U24295TN1984PLC075194 |
Anabond Limited |
Managing
director |
01-12-10 |
29-02-84 |
- |
Active |
NO |
|
2 |
U30007TN1994PTC026929 |
Darien Electric Private
Limited |
Director |
02-03-94 |
02-03-94 |
- |
Active |
NO |
|
3 |
U24299PY1997PTC001304 |
Anabond Revocoat
India Private Limited |
Managing
director |
25-01-08 |
17-03-97 |
- |
Active |
NO |
|
4 |
U33112TN2004PTC054628 |
Anabond Stedman Pharma
Research Private Limited |
Director |
09-11-04 |
09-11-04 |
- |
Active |
NO |
|
5 |
U92412TN2007PTC062354 |
Anabond Golf
Club Private Limited |
Nominee director |
12-02-07 |
12-02-07 |
- |
Active |
NO |
|
6 |
U27300TN2007PTC063230 |
Anabond Tantalum
Private Limited |
Nominee director |
23-04-07 |
23-04-07 |
- |
Active |
NO |
|
7 |
U72200TN2003PTC051954 |
Anadocs It
Solutions Private Limited |
Director |
30-09-09 |
30-12-08 |
- |
Active |
NO |
|
8 |
U24133TN2010PTC074891 |
Anabond Sainergy
FuelCell India Private Limited |
Director |
12-03-10 |
12-03-10 |
14-07-10 |
Active |
NO |
|
|
|
|
Name : |
Mr. Arcot Varadan Ramanujam |
|
Designation : |
Director |
|
Address : |
41/C2, Prakruthi Apartments, I |
|
Date of Birth/Age : |
14.04.1951 |
|
Date of Appointment : |
03.01.2000 |
|
DIN No.: |
00040011 |
Other Directorship
|
S.No. |
CIN |
Name of the
Company |
Current
designation of the director |
Date of appointment
at current designation |
Original date of
appointment |
Company Status |
Defaulting
status |
|
1 |
U24295TN1984PLC075194 |
Anabond Limited |
Whole-time
director |
01-12-10 |
29-02-84 |
Active |
NO |
|
2 |
U30007TN1994PTC026929 |
Darien Electric
Private Limited |
Managing
director |
02-03-94 |
02-03-94 |
Active |
NO |
|
3 |
U24299PY1997PTC001304 |
Anabond Revocoat
India Private Limited |
Director |
03-01-00 |
03-01-00 |
Active |
NO |
|
|
|
|
Name : |
Mr. Venkateswaran Lakshminarayanan |
|
Designation : |
Director |
|
Address : |
No. 7, Narayan Kripa Ga, Jeevarthinam Nagar, Shastri Nagar, Adyar,
Chennai – 600 020, Tamilnadu, India |
|
Date of Birth/Age : |
18.06.1956 |
|
Date of Appointment : |
28.09.2001 |
|
DIN No.: |
00040251 |
Other Directorship
|
S.No. |
CIN |
Name of the
Company |
Current
designation of the director |
Date of
appointment at current designation |
Original date of
appointment |
Company Status |
Defaulting
status |
|
1 |
U24299PY1997PTC001304 |
Anabond Revocoat
India Private Limited |
Director |
28-09-01 |
28-09-01 |
Active |
NO |
|
2 |
U72200TN2003PTC051954 |
Anadocs It
Solutions Private Limited |
Managing
director |
13-11-03 |
13-11-03 |
Active |
NO |
|
3 |
U80904TN2003PTC052209 |
Tutors Worldwide
( |
Director |
01-07-04 |
01-07-04 |
Active |
|
|
4 |
U27300TN2007PTC063230 |
Anabond Tantalum
Private Limited |
Nominee director |
23-04-07 |
23-04-07 |
Active |
NO |
|
5 |
U24295TN1984PLC075194 |
Anabond Limited |
Whole-time
director |
01-12-10 |
24-08-07 |
Active |
NO |
|
6 |
U72900TN2007PTC065146 |
Anadocs rfXcel
Software India Private Limited |
Director |
24-10-07 |
24-10-07 |
Strike off |
NO |
|
|
|
|
Name : |
Mr. Charles Jean Ange Churet |
|
Designation : |
Director |
|
Address : |
Hoh, Rohnenweg, Wilen B, Wollereau - 148832 |
|
Date of Birth/Age : |
14.07.1952 |
|
Date of Appointment : |
30.09.2009 |
|
DIN No.: |
02565956 |
Other Directorship
|
S.No. |
CIN |
Name of the
Company |
Current
designation of the director |
Date of
appointment at current designation |
Original date of
appointment |
Company Status |
Defaulting
status |
|
1 |
U24299PY1997PTC001304 |
Anabond Revocoat
India Private Limited |
Director |
30-09-09 |
02-02-09 |
Active |
NO |
|
|
|
|
Name : |
Mr. Gilles Paul Jerome Marie Pichou |
|
Designation : |
Director |
|
Address : |
34, |
|
Date of Birth/Age : |
18.06.1957 |
|
Date of Appointment : |
30.09.2009 |
|
DIN No.: |
02547650 |
Other Directorship
|
S.No. |
CIN |
Name of the Company |
Current
designation of the director |
Date of
appointment at current designation |
Original date of
appointment |
Company Status |
Defaulting
status |
|
1 |
U24299PY1997PTC001304 |
Anabond Revocoat
India Private Limited |
Director |
30-09-09 |
02-02-09 |
Active |
NO |
|
|
|
|
Name : |
Mr. Pierre Yves Raymond Divet |
|
Designation : |
Director |
|
Address : |
73, BIS Rue De Villliers, |
|
Date of Birth/Age : |
23.12.1945 |
|
Date of Appointment : |
30.09.2009 |
|
DIN No.: |
02637870 |
Other Directorship
|
S.No. |
CIN |
Name of the
Company |
Current
designation of the director |
Date of
appointment at current designation |
Original date of
appointment |
Company Status |
Defaulting
status |
|
1 |
U24299PY1997PTC001304 |
Anabond Revocoat
India Private Limited |
Director |
30-09-09 |
30-05-09 |
Active |
NO |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 06.05.2011
|
Names of Shareholders |
|
No. of Shares |
|
|
|
933578 |
|
Anabond Limited, |
|
502422 |
|
Darien Electric Private Limited, |
|
431156 |
|
Total |
|
1867156 |
As on 06.05.2011
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
50.00 |
|
Bodies
corporate |
|
50.00 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing Paints Shop, Body Shop, Trim Shop and Direct Glazing
Sealants for Automobile Manufacturing Companies. |
||||||||
|
|
|
||||||||
|
Products : |
|
GENERAL INFORMATION
|
No. of Employees
: |
Not Available |
||||||||||||||||||
|
|
|
||||||||||||||||||
|
Bankers : |
·
HDFC Bank Limited HDFC Bank House, Senapati Bapat Marg, Lower
Parel (West), Mumbai – 400 013, ·
HDFC Bank # 759 ITC Centre, Anna Salai, Chennai –
600 002, ·
State Bank of ·
Indian Overseas Bank |
||||||||||||||||||
|
|
|
||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Chartered Accountants |
|
Address : |
“Skyline Castle”, New No. 27, First Floor, Abdul Razack Street,
Saidpet, Chennai – 600 015, Tamilnadu, India |
|
Tel. No.: |
91-44-24363813/24360531 |
|
E-Mail : |
CAPITAL STRUCTURE
As on 06.05.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
2500000 |
Equity Shares |
Rs.10/- each |
Rs.25.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
1867156 |
Equity Shares |
Rs.10/- each |
Rs.18.672
Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
18.672 |
18.672 |
18.672 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
50.788 |
41.477 |
32.034 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
69.460 |
60.149 |
50.706 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
39.647 |
39.809 |
36.050 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
39.647 |
39.809 |
36.050 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
109.107 |
99.958 |
86.756 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
23.205 |
24.371 |
25.332 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.250 |
0.250 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.347 |
0.393 |
0.268 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
34.793
|
27.747
|
21.256 |
|
|
Sundry Debtors |
94.028
|
75.057
|
48.850 |
|
|
Cash & Bank Balances |
1.054
|
2.155
|
1.471 |
|
|
Other Current Assets |
0.000
|
0.000
|
0.000 |
|
|
Loans & Advances |
24.148
|
17.131
|
10.540 |
|
Total
Current Assets |
154.023
|
122.090
|
82.117 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
48.883
|
33.672
|
12.566 |
|
|
Other Current Liabilities |
0.000
|
0.000
|
0.000 |
|
|
Provisions |
19.835
|
13.474
|
8.395 |
|
Total
Current Liabilities |
68.718
|
47.146
|
20.961 |
|
|
Net Current Assets |
85.305
|
74.944
|
61.156 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
109.107 |
99.958 |
86.756 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Gross Turnover |
417.400 |
253.400 |
209.000 |
|
|
|
Other Income |
1.500 |
1.500 |
0.200 |
|
|
|
TOTAL (A) |
418.900 |
254.900 |
209.200 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL (B) |
391.300 |
230.000 |
197.700 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
27.600 |
24.900 |
11.500 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
3.500 |
3.800 |
4.400 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
24.100 |
21.100 |
7.100 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
3.600 |
3.700 |
3.900 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
20.500 |
17.400 |
3.200 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
6.800 |
5.800 |
1.200 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
13.700 |
11.600 |
2.000 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
78.494 |
51.538 |
42.689 |
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
7.34 |
6.21 |
1.07 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
3.27
|
4.55
|
0.96 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
4.91
|
6.87
|
1.53 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
11.57
|
11.88
|
2.98 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.30
|
0.29
|
0.06 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.56
|
1.45
|
1.12 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.24
|
2.59
|
3.92 |
LOCAL AGENCY FURTHER INFORMATION
FINANCIAL ANALYSIS
During the year the turnover of the company increased to Rs.417.400
millions from Rs.253.400 millions, thereby registering a growth of 65% in Gross
Sales. The increase in sales and profit reflects the revival of growth.
FORM 8
|
This form is for |
Creation of
charge |
|
Corporate
identity number of the company |
U24299PY1997PTC001304 |
|
Name of the
company |
ANABOND REVOCOAT
INDIA PRIVATE LIMITED |
|
Address of the registered
office or of the principal place of
business in |
Cadastre No. 82, RE Survey No: 26/2, Thirubuva, |
|
Type of charge |
·
Book
Debts ·
Movable
Property (not being pledge) ·
Floating
Charge |
|
Particular of
charge holder |
HDFC Bank Limited HDFC Bank House, Senapati Bapat Marg, Lower Parel (West),
Mumbai-400013, |
|
Email |
|
|
Nature of
description of the instrument creating or modifying the charge |
i) Letter of
Hypothecation of Stocks and Book Debts dated 28th April, 2010; and ii) Memorandum
relating to Hypothecation of Machinery dated 28th April, 2010. |
|
Date of
instrument Creating the charge |
28.04.2010 |
|
Amount secured by
the charge |
Rs.10.000
Millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest Any such rate as
may be advised to the Company from time to time in respect of the credit
facilities. Terms of
Repayment Repayable on
Demand. Margin As may be
prescribed by the Bank from time to time for the credit facilities. Extent and Operation
of the charge Hypothecation by
way of Exclusive First Charge in favour of HDFC Bank Limited on all the
Stock-in-trade, Book Debts and movable Plant and Machinery of the Company
both present and future. |
|
Short particulars
of the property charged |
Hypothecation by
way of Exclusive First Charge in favour of HDFC Bank Limited on all the
Stock-in-trade, Book Debts and movable Plant and Machinery of the Company
both present and future. |
FIXED ASSETS
·
Land
·
Buildings
·
Electrical Equipments
·
Plant and Machinery
·
Lab Equipments
·
Vehicles
·
Computers
·
Computers Software
·
Furniture and Fixtures
·
Office Equipments
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.50.27 |
|
|
1 |
Rs.80.07 |
|
Euro |
1 |
Rs.68.45 |
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 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
4 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
45 |
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.