MIRA
INFORM REPORT
|
Report Date : |
17.10.2011 |
IDENTIFICATION DETAILS
|
Name : |
RAJASTHAN INTEGRATED DEVELOPMENT INSTITUTE |
|
|
|
|
Registered
Office : |
Sheopur Road, Sector – 6, Pratap Nagar, Sanganer, Jaipur – 302020,
Rajasthan |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of Incorporation
: |
11.06.1997 |
|
|
|
|
Com. Reg. No.: |
171/Jaipur/1997-98 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.17.591 Millions |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAATR6704J |
|
|
|
|
Legal Form : |
Educational Institute |
|
|
|
|
Line of Business
: |
Providing Educational Services. |
|
|
|
|
No. of Employees
: |
50 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Unknown |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a well established trust in Rajasthan providing educational
services through its various school and institute. The management has failed to provide required documents. However,
trade relations are reported as fair. Business is active. Payments are
unknown. It would be take advisable securities while dealing with the subject. |
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 |
INFORMATION PARTED BY
|
Name : |
Mr. G. P. Gupta |
|
Designation : |
Vice Chairman |
|
Contact No.: |
91-9414079992 |
|
Date : |
17.10.2011 |
LOCATIONS
|
Registered Office : |
Sheopur Road, Sector – 6, Pratap Nagar, Sanganer, Jaipur – 302020,
Rajasthan, India |
|
Tel. No.: |
91-141-2792736 |
|
Mobile No.: |
91-9414079992 (Mr. G. P. Gupta) |
|
E-Mail : |
MANAGEMENT
|
Name : |
Mr. Brijesh Sharma |
|
Designation : |
Member |
|
Address : |
Shee Mahadev Nagar, Jaipur, Rajasthan, India |
|
|
|
|
Name : |
Mr. Bharatlal Gupta |
|
Designation : |
Chairman |
|
Address : |
D-12, Indrapuri Colony, Lalkothi, Jaipur, Rajasthan, India |
|
|
|
|
Name : |
Mr. G. P. Gupta |
|
Designation : |
Vice Chairman |
|
Address : |
709, Gandhi Nagar, Jaipur, Rajasthan, India |
|
|
|
|
Name : |
Mrs. Madhu Gupta |
|
Designation : |
Director |
|
Address : |
709, Gandhi Nagar, Jaipur, Rajasthan, India |
|
|
|
|
Name : |
Mrs. Seema Singhal |
|
Designation : |
Joint Secretary |
|
Address : |
N-17, Gandhi Nagar, Jaipur, Rajasthan, India |
|
|
|
|
Name : |
Mr. Pradeep Mittal |
|
Designation : |
Treasure |
|
Address : |
36, Adinath Nagar, Getor Road, Jagatpura, Jaipur, Rajasthan, India |
|
|
|
|
Name : |
Mr. Anil Gupta |
|
Designation : |
Member |
|
Address : |
B-28, Anita Colony, Bajaj Nagar, Jaipur, Rajasthan, India |
BUSINESS DETAILS
|
Line of Business : |
Providing Educational Services. |
GENERAL INFORMATION
|
Suppliers : |
· Acme · Manohar Book Depot Private Limited · Shubh Advertising and Marketing Private Limited |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
No. of Employees : |
50 (Approximately) |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Bankers : |
· Bank of India M I Road, Jaipur, Rajasthan, India · Bank of Maharashtra · Bank of Rajasthan |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Facilities : |
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Rajvanshi and Associates Chartered Accountant |
|
Address : |
H-15, Chitranjan Marg, C- Scheme, Jaipur – 302001, Rajasthan, India |
|
Telefax No.: |
91-141-2363340/ 2363341/ 2363342 |
|
Mobile No.: |
91-9314668454 |
|
Email : |
|
|
|
|
|
Associates/Subsidiaries : |
· Overseas School Showpur Road, Pratap Nagar, Jaipur – 302030, Rajasthan, India |
CAPITAL STRUCTURE
CAPITAL
ACCOUNTS AS ON 31.03.2011
|
Particulars |
(Rs. In Millions) |
|
|
|
|
SURPLUS FUND |
|
|
Opening Balance |
7.921 |
|
Add: Excess of
Income over expenses |
2.436 |
|
|
10.357 |
|
|
|
|
Corpus Fund for
Building |
|
|
Opening Balance |
5.517 |
|
Corpus Fund for
Building |
1.717 |
|
|
7.234 |
|
|
|
|
Total |
17.591 |
------------------------------------------------------------------------------------------------------------------------------
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 |
17.591 |
13.438 |
8.739 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
0.000 |
0.000 |
0.000 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
17.591 |
13.438 |
8.739 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
16.727 |
21.138 |
23.505 |
|
|
2] Unsecured Loans |
4.182 |
4.582 |
6.011 |
|
|
TOTAL BORROWING |
20.909 |
25.720 |
29.516 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
38.500 |
39.158 |
38.255 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
37.502 |
37.265 |
35.859 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.130 |
2.018 |
2.528 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
0.000
|
0.000 |
0.000 |
|
|
Sundry Debtors |
0.028
|
0.000 |
0.000 |
|
|
Cash & Bank Balances |
0.608
|
0.339 |
0.606 |
|
|
Other Current Assets |
0.116
|
0.700 |
1.190 |
|
|
Loans & Advances |
1.447
|
0.061 |
0.000 |
|
Total
Current Assets |
2.199
|
1.100 |
1.796 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditor |
0.135
|
0.674 |
1.363 |
|
|
Other Current Liabilities |
1.196
|
0.551 |
0.565 |
|
|
Provisions |
0.000
|
0.000 |
0.000 |
|
Total
Current Liabilities |
1.331
|
1.225 |
1.928 |
|
|
Net Current Assets |
0.868
|
(0.125) |
(0.132) |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
38.500 |
39.158 |
38.255 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
B. Ed. Student Admission Fees |
2.240 |
2.240 |
2.240 |
|
|
|
Tution Fees |
11.022 |
8.143 |
6.313 |
|
|
|
Other Income |
3.068 |
4.538 |
3.884 |
|
|
|
TOTAL |
16.330 |
14.921 |
12.437 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Audit Fees |
0.017 |
0.028 |
0.012 |
|
|
|
Affiliation and Approval Fees |
0.340 |
0.265 |
0.001 |
|
|
|
Advertisement Expenses |
0.702 |
0.468 |
0.517 |
|
|
|
Salaries |
4.267 |
4.143 |
0.000 |
|
|
|
Conveyance and Local Conveyance |
0.235 |
0.101 |
0.038 |
|
|
|
Electricity and Water Expenses |
0.110 |
0.061 |
0.095 |
|
|
|
Misc. Expenses |
0.033 |
0.046 |
0.000 |
|
|
|
Rent |
0.180 |
0.024 |
0.000 |
|
|
|
Insurance Expenses |
0.088 |
0.000 |
0.000 |
|
|
|
Legal and Professional Expenses |
0.014 |
0.029 |
0.000 |
|
|
|
Printing and Stationery |
0.116 |
0.070 |
0.078 |
|
|
|
Programme and Function |
0.119 |
0.000 |
0.000 |
|
|
|
Telephone Expenses |
0.101 |
0.068 |
0.083 |
|
|
|
Petrol and Diesel Expenses |
0.260 |
0.000 |
0.000 |
|
|
|
Uniform Purchased |
0.640 |
0.286 |
0.830 |
|
|
|
Other Expenses |
4.318 |
4.590 |
6.906 |
|
|
|
TOTAL |
11.540 |
10.179 |
8.560 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
4.790 |
4.742 |
3.877 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
2.354 |
2.643 |
2.343 |
|
|
|
|
|
|
|
|
|
|
EXCESS/ SURPLUS
OF EXPENDITURE OVER INCOME |
2.436 |
2.099 |
1.534 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
14.92
|
14.07 |
12.33 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
18.37
|
20.22 |
17.94 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
6.14
|
5.47 |
4.07 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.14
|
0.16 |
0.18 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.26
|
2.01 |
3.60 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.65
|
0.90 |
0.93 |
LOCAL AGENCY FURTHER INFORMATION
COST OF
PROJECT AND MEANS OF FINANCE
COST OF THE PROJECT
(RS.
IN MILLIONS)
|
Particulars |
Existing As on
31.03.2011 |
Proposed
Additions |
Total |
|
|
(A) |
(B) |
(A+B) |
|
|
|
|
|
|
Land |
16.599 |
0.000 |
16.599 |
|
|
|
|
|
|
Building |
18.244 |
51.300 |
69.544 |
|
|
|
|
|
|
Furniture and
Fixture |
0.998 |
2.649 |
3.647 |
|
|
|
|
|
|
Equipment and Other
F.A. |
1.663 |
6.147 |
7.811 |
|
|
|
|
|
|
Working Capital
Margin |
1.311 |
3.273 |
4.584 |
|
|
|
|
|
|
Total |
38.815 |
63.370 |
102.185 |
MEANS OF FINANCE
(RS.
IN MILLIONS)
|
Particulars |
Existing As on
31.03.2011 |
Proposed Additions
|
Total |
|
|
(A) |
(B) |
(A+B) |
|
|
|
|
|
|
Corpus Fund
Reserve and Surplus – Internal Accruals |
17.591 |
14.983 |
32.574 |
|
|
|
|
|
|
Term Loan From
Bank |
16.727 |
48.273 |
65.000 |
|
|
|
|
|
|
Unsecured Loans |
4.182 |
0.000 |
4.182 |
|
|
|
|
|
|
Caution Money |
0.315 |
0.114 |
0.429 |
|
|
|
|
|
|
Total |
38.815 |
63.370 |
102.185 |
|
|
|||
|
Banker :
Promoter Ratio |
65.000 |
37.185 |
1.75:1 |
------------------------------------------------------------------------------------------------------------------------------
ESTIMATED/ PROJECTED PROFITABILITY
STATEMENT
(RS.
IN MILLIONS)
|
Particulars
|
2011-12 |
2012-13 |
2013-14 |
2014-15 |
2015-16 |
2016-17 |
|
|
|
|
|
|
|
|
|
INCOME |
|
|
|
|
|
|
|
Tution Fees from Student |
14.066 |
23.223 |
25.638 |
27.169 |
28.752 |
30.387 |
|
B. Ed. And MBA Fees |
2.640 |
2.640 |
3.640 |
5.040 |
5.040 |
5.040 |
|
One time Registration Fees |
0.100 |
2.215 |
0.500 |
0.250 |
0.250 |
0.250 |
|
Reg./ Re- Admission Fees |
0.030 |
0.133 |
0.030 |
0.015 |
0.015 |
0.015 |
|
Transportation Fees |
0.825 |
1.089 |
1.320 |
1.430 |
1.540 |
1.650 |
|
Sale of Book and Bags |
1.600 |
1.800 |
1.850 |
1.900 |
1.950 |
2.000 |
|
Sale of Uniform |
1.200 |
1.500 |
1.550 |
1.600 |
1.650 |
1.700 |
|
Sale of Registration Form and Prospectus |
0.020 |
0.089 |
0.020 |
0.010 |
0.010 |
0.010 |
|
Misc. Fees and Receipts from Students |
0.044 |
0.048 |
0.053 |
0.059 |
0.064 |
0.071 |
|
Practical Fees |
0.400 |
0.500 |
0.550 |
0.600 |
0.650 |
0.700 |
|
Annual Fees |
1.600 |
1.700 |
1.700 |
1.800 |
1.900 |
2.000 |
|
Misc. Income |
0.450 |
0.450 |
0.500 |
0.500 |
0.500 |
0.550 |
|
|
|
|
|
|
|
|
|
TOTAL INCOME |
22.975 |
35.387 |
37.351 |
40.373 |
42.321 |
44.373 |
|
|
||||||
|
EXPENSES
|
|
|
|
|
|
|
|
Salary of Teaching Staff |
3.870 |
7.415 |
7.934 |
9.886 |
10.578 |
13.170 |
|
Fees for Guest Teacher/ External |
0.011 |
0.019 |
0.020 |
0.026 |
0.028 |
0.029 |
|
Examiners/ Subject Examiners |
|
|
|
|
|
|
|
Salary of Adm. Staff |
1.668 |
2.856 |
2.408 |
2.926 |
3.245 |
3.542 |
|
Administrative Overheads |
5.181 |
6.530 |
6.689 |
6.854 |
7.024 |
7.199 |
|
Depreciation |
3.611 |
5.366 |
4.749 |
4.248 |
3.835 |
3.491 |
|
Interests on Term Loan |
6.322 |
7.780 |
6.991 |
6.029 |
4.847 |
3.416 |
|
|
|
|
|
|
|
|
|
TOTAL
|
20.663 |
29.965 |
28.791 |
29.968 |
29.557 |
30.847 |
|
|
|
|
|
|
|
|
|
Surplus of Income |
|
|
|
|
|
|
|
Over Expenses |
2.312 |
5.421 |
8.560 |
10.405 |
12.814 |
13.526 |
|
Add: Depreciation |
3.611 |
5.366 |
4.749 |
4.248 |
3.835 |
3.491 |
|
Cash Accruals |
5.924 |
10.787 |
13.309 |
14.653 |
16.649 |
17.017 |
|
Term Loan Repayment |
3.924 |
4.800 |
6.000 |
7.200 |
8.800 |
11.200 |
|
|
|
|
|
|
|
|
|
|
12.245 |
18.567 |
20.299 |
20.681 |
21.497 |
20.433 |
|
|
10.246 |
12.580 |
12.991 |
13.229 |
13.647 |
14.616 |
|
|
|
|
|
|
|
|
|
Individual
DSCR |
1.20 |
1.48 |
1.56 |
1.56 |
1.58 |
1.40 |
|
|
|
|
|
|
|
|
|
Total
Cash Accruals = |
1361.59 |
Average DSCR = 1.69 |
||||
|
|
|
|
|
|
|
|
|
Average
DSCR = |
Net Cash Accruals + Interests on Term ----------------------------------------------------- Term Loan + Interests on Term Loan |
1361.59 + 376.24 -------------------------------------- 650.00 + 376.24 |
||||
------------------------------------------------------------------------------------------------------------------------------
ESTIMATED
/ PROJECTED BALANCE SHEET
(RS.
IN MILLIONS)
|
Particulars
|
2011-12 |
2012-13 |
2013-14 |
2014-15 |
2015-16 |
2016-17 |
|
|
|
|
|
|
|
|
|
LIABILITIES |
|
|
|
|
|
|
|
Corpus Fund |
32.574 |
32.574 |
32.574 |
32.574 |
32.574 |
32.574 |
|
Reserve / Surplus |
2.312 |
7.734 |
16.294 |
26.699 |
39.513 |
53.039 |
|
Caution Money |
0.429 |
0.886 |
1.000 |
1.064 |
1.178 |
1.292 |
|
Term Loan from Bank |
62.057 |
57.257 |
51.257 |
44.057 |
35.257 |
24.057 |
|
Unsecured Loan Trustees |
4.000 |
3.500 |
3.000 |
2.500 |
2.000 |
1.500 |
|
Other Current Liabilities |
1.500 |
1.600 |
1.700 |
1.700 |
1.800 |
1.800 |
|
|
|
|
|
|
|
|
|
TOTAL LIABILITIES |
102.872 |
103.550 |
105.824 |
108.594 |
112.321 |
114.261 |
|
|
||||||
|
ASSETS |
|
|
|
|
|
|
|
Fixed Assets |
|
|
|
|
|
|
|
Gross Block |
97.600 |
97.600 |
97.600 |
97.600 |
97.600 |
97.600 |
|
Less: Depreciation |
3.611 |
8.977 |
13.726 |
17.973 |
21.808 |
25.299 |
|
Net Block |
93.989 |
88.624 |
83.875 |
79.627 |
75.792 |
72.301 |
|
FDR with Bank / Additional |
2.000 |
2.000 |
2.000 |
2.000 |
2.000 |
2.000 |
|
Investment |
0.129 |
0.129 |
0.129 |
0.129 |
0.129 |
0.129 |
|
Other Current Assets |
1.700 |
1.800 |
1.900 |
1.900 |
2.000 |
2.000 |
|
Cash and Bank balance |
5.054 |
10.998 |
17.920 |
24.937 |
32.400 |
37.831 |
|
|
|
|
|
|
|
|
|
TOTAL
ASSETS |
102.872 |
103.550 |
105.824 |
108.593 |
112.321 |
114.261 |
------------------------------------------------------------------------------------------------------------------------------
NOTE:
The institute (Trust) was registered under the Rajasthan Sanstha Registrikaran
Adhiniyam, 1958 on 11th June 1997.
------------------------------------------------------------------------------------------------------------------------------
FIXED ASSETS:
· Air Conditioner
· Building
· Computers
· Fan
· Freeze
· Furniture and Fixture
· Invertor
· Laboratory Goods
· Land
·
Mobile Phone
·
Office Equipment
·
School Bus
·
Grass Cutting Machine
·
Electrical Equipments
·
Vehicles
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.49.07 |
|
|
1 |
Rs.77.42 |
|
Euro |
1 |
Rs.67.72 |
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.