1. Summary Information
|
|
|
Country |
|
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Company Name |
SCHNEIDER ELECTRIC INDIA PRIVATE LIMITED |
Principal Name 1 |
Mr. Olivier Pascal Marius Blum |
|
Status |
Moderate |
Principal Name 2 |
Mr. Zeljko Kosanovic |
|
|
|
Registration # |
55-65815 |
|
Street Address |
Plot No.B-12, Ground Floor, Rewari Line, Mayapuri Industrial Area,
Phase I, New Delhi – 110 064, India |
||
|
Established Date |
24.02.1995 |
SIC Code |
-- |
|
Telephone# |
91-11-30189530 |
Business Style 1 |
Manufacturer |
|
Fax # |
-- |
Business Style 2 |
Trader |
|
Homepage |
Product Name 1 |
Electronic Items |
|
|
# of employees |
6000 (Approximately) |
Product Name 2 |
-- |
|
Paid up capital |
Rs. 3,654,354,660/- |
Product Name 3 |
-- |
|
Shareholders |
Foreign Holdings ( 100.00%) |
Banking |
Not Available |
|
Public Limited Corp. |
NO |
Business Period |
16 Years |
|
IPO |
NO |
International Ins. |
- |
|
Public |
NO |
Rating |
B (26) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
CEO |
|
Holding
company |
|
Schneider Electric Industries S.A.S |
-- |
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2010 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
5,659,036,000 |
Current Liabilities |
4,314,581,000 |
|
Inventories |
2,246,012,000 |
Long-term Liabilities |
4,898,648,000 |
|
Fixed Assets |
2,385,135,000 |
Other Liabilities |
235,877,000 |
|
Deferred Assets |
000 |
Total Liabilities |
9,449,106,000 |
|
Invest& other Assets |
1,956,537,000 |
Retained Earnings |
[856,741,000] |
|
|
|
Net Worth |
2,797,614,000 |
|
Total Assets |
12,246,720,000 |
Total Liab. & Equity |
12,246,720,000 |
|
Total Assets (Previous Year) |
3,762,728,000 |
|
|
|
P/L Statement as of |
31.03.2010 |
(Unit: Indian Rs.) |
|
|
Sales and Other income |
14,106,654,000 |
Net Profit/ Loss |
[302,714,000] |
|
Sales and other income (Previous yr) |
13,051,108,000 |
Net Profit/
Loss (Prev.yr) |
[716,564,000] |
MIRA INFORM
REPORT
|
Report Date : |
02.09.2011 |
IDENTIFICATION DETAILS
|
Name : |
SCHNEIDER ELECTRIC INDIA PRIVATE LIMITED |
|
|
|
|
Registered Office : |
Plot No.B-12, Ground Floor, Rewari Line, Mayapuri Industrial Area,
Phase I, New Delhi – 110 064 |
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Country : |
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Financials (as on) : |
31.03.2010 |
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Date of Incorporation : |
24.02.1995 |
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|
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Com. Reg. No.: |
55-65815 |
|
|
|
|
Capital Investment / Paid-up Capital : |
Rs.3654.355 millions |
|
|
|
|
CIN No.: [Company
Identification No.] |
U74899DL1995PTC065815 |
|
|
|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
DELS22760D |
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|
|
PAN No.: [Permanent
Account No.] |
AABCS1624G |
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|
Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer and Trader of Industrial, Electrical and Electronic
Items. |
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|
No. of Employees : |
6000 (Approximately) |
RATING & COMMENTS
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|
B (26) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 11190000 |
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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. There appears
some accumulated losses recorded by the company. However trade relations are
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) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
|
Off-credit |
D |
LOCATIONS
|
Registered Office : |
Plot No.B-12, Ground Floor, Rewari Line, Mayapuri Industrial Area,
Phase I, New Delhi – 110 064, India |
|
Tel. No.: |
91-11-30189530 |
|
Fax No.: |
Not Avaialble |
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E-Mail : |
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Website : |
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Head Office: |
9th Floor, |
|
Tel. No.: |
91-124-3940400 |
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Fax No.: |
91-124-4222036 |
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Factory : |
16(K), Attibele Industrial Area, Neraur, |
|
Tel. No.: |
91-80-27820211 |
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Fax No.: |
91-80-27820236 |
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Branch Office: |
328/23 and 24, |
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Service Centers : |
Located at:
|
DIRECTORS
As on 30.09.2010
|
Name : |
Mr. Olivier Pascal Marius Blum |
|
Designation : |
Managing Director |
|
Address : |
3/ 35, Shanti
Niketan, |
|
Date of Birth/Age : |
13.10.1970 |
|
Qualification : |
P.G. (qualified in business, administration and financial studies from
Ecole De Management, |
|
Date of Appointment : |
01.01.2008 |
|
DIN No.: |
02075443 |
|
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Name : |
Mr. Zeljko Kosanovic |
|
Designation : |
Director |
|
Address : |
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Date of Birth/Age : |
26.09.1970 |
|
Date of Appointment : |
02.04.2007 |
|
DIN No.: |
01469848 |
|
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|
Name : |
Rajani Parvatesam Kesari |
|
Designation : |
Whole Time Director |
|
Address : |
35/ A, Vengal Rao Nagar, |
|
Date of Birth/Age : |
02.07.1971 |
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Qualification : |
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Date of Appointment : |
13.10.2008 |
|
DIN No.: |
02384170 |
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Name : |
Mr. Faizur Rehman |
|
Designation : |
Managing Director |
|
Address : |
A–13, Pocket – A, DDA Flat, Sukhdev Vihar, |
|
Date of Birth/Age : |
05.03.1978 |
|
Date of Appointment : |
30.07.2009 |
KEY EXECUTIVES
|
Name : |
Mr. Faizur Rehman |
|
Designation : |
Secretary |
|
|
|
|
Business Unit: |
Mr. Abid Makani Director – Power Mr. Shrinivas Chebbi Country General Manager and President – Mr. Sreekumar Director – Energy Management Ms. Sonali Kaushik Director – ISC business and Hotel Solutions Mr. Nikhil Pathak Vice President – Buildings |
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|
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Specialized Sales: |
Mr. S Nagarajan Country Manager – Mr. Sai Sri Balaji Lenka Director – Distribution |
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Business Partner: |
Mr. Sandeep Singh Director – Commercial Excellence Mr. Director – Project Engineering Centre Mr. Rajani Kesari CFO and Director – Finance Director – Human Resources Mr. Rajinder K
Arora Director – Logistics Mr. Daniel
Gheno Director – Global Technology Centre of Director - Learning and Development |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2010
|
Names of Shareholders |
|
No. of Shares |
|
Schneider Electric Industries S.A.S., |
|
365435465 |
|
Societe Rhodanienne D’Etudeset De Participations, |
|
1 |
|
Total
|
|
365435466 |
As on 30.09.2010
|
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] |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Trader of Industrial, Electrical and Electronic
Items. |
|
|
|
PRODUCTION STATUS (AS ON 31.03.2010)
|
Particulars |
Unit |
Installed
Capacity * |
Actual
Production *** |
|
Industrial, Electrical and Electronic Item |
Nos. |
41373820 |
14745004 |
|
|
|
|
|
NOTE
* As certified by the management and relied on
by the auditors, being a technical matter.
*** The production quantity is not comparable with
installed capacity because of difference in unit of measurement.
GENERAL INFORMATION
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Customers : |
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No. of Employees : |
6000 (Approximately) |
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Bankers : |
Not Available |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
|
|
Name : |
S.R. Batliboi and Company Chartered Accountants |
|
Address : |
Golf View Corporate Tower – B, Sector – 42, |
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Memberships : |
ISO : 9001 Certified |
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Holding Company:
|
Schneider Electric Industries S.A.S, |
|
|
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|
Subsidiaries :
|
Schneider
Electric (Lanka) Private Limited ( Schneider
Electric Conzerv India Private Limited (w.e.f. June 8, 2010) CIN No.:
U03312DL1988PTC208639 |
|
|
|
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Fellow
Subsidiaries : |
|
CAPITAL STRUCTURE
After As on 30.09.2010
Authorised Capital : Rs. 4040.000 Millions
Paid-up Capital : Rs. 3682.862 Millions
As on 30.09.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
380000000 |
Equity Shares |
Rs.10/- each |
Rs.3800.000 millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
365435466 |
Equity Shares |
Rs.10/- each |
Rs.3654.355 millions |
|
|
|
|
|
Note:
1) Out of above 365435465 equity shares of Rs.10/- each are
held by Schneider Electric Industries S.A.S. France, the Holding Company.
2) Out of above 611155 equity shares of Rs.10/- each have been allotted for consideration other than cash.
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
3654.355 |
1701.183 |
1701.183 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
0.000 |
0.000 |
207.537 |
|
|
4] (Accumulated Losses) |
(856.741) |
(554.027) |
0.000 |
|
|
NETWORTH |
2797.614 |
1147.156 |
1908.720 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
4898.648 |
3326.923 |
3441.923 |
|
|
TOTAL BORROWING |
4898.648 |
3326.923 |
3441.923 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
7696.262 |
4474.079 |
5350.643 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
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FIXED ASSETS [Net Block] |
2385.135 |
1152.658 |
996.220 |
|
|
Capital work-in-progress |
84.858 |
197.457 |
291.159 |
|
|
|
|
|
|
|
|
INVESTMENT |
1871.679 |
61.385 |
61.385 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
8.433 |
|
|
|
|
|
|
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
2246.012
|
1831.376 |
2164.228
|
|
|
Sundry Debtors |
4228.983
|
3503.522 |
4356.119
|
|
|
Cash & Bank Balances |
334.597
|
67.344 |
179.641
|
|
|
Other Current Assets |
0.000
|
0.000 |
0.000
|
|
|
Loans & Advances |
1095.456
|
948.986 |
857.429
|
|
Total
Current Assets |
7905.048
|
6351.228 |
7557.417 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
3123.882
|
|
|
Other Current Liabilities |
|
|
263.935
|
|
|
Provisions |
235.877
|
170.576 |
176.154
|
|
Total
Current Liabilities |
4550.458
|
3288.649 |
3563.971
|
|
|
Net Current Assets |
3354.590
|
3062.579 |
3993.446
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
7696.262 |
4474.079 |
5350.643 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Sales (net) and Other Income |
|
14106.654 |
13051.108 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
|
395.533 |
(106.643) |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
|
(302.714) |
(716.564) |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Exports at F.O.B. Value |
|
1463.027 |
1011.829 |
|
|
|
Others – Services |
|
1193.294 |
893.321 |
|
|
TOTAL EARNINGS |
|
2656.321 |
1905.150 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Industrial
Electrical, Electronic Items and Raw Material - Goods purchase for resale |
|
2830.142 |
2993.467 |
|
|
|
- Raw Materials |
|
2606.654 |
1807.553 |
|
|
|
Stores & Spares |
|
2.429 |
0.802 |
|
|
|
Capital Goods |
|
91.355 |
136.475 |
|
|
TOTAL IMPORTS |
|
5530.580 |
4938.297 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
|
(0.83) |
NA |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
(2.15)
|
(5.49) |
NA |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
3.38
|
5.77 |
3.67 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.74
|
1.93 |
2.12 |
LOCAL AGENCY FURTHER INFORMATION
NOTE
Registered Office
of the company has been shifted from A–29, Mohan Co-Operative Industrial Estate,
Mathura Road, New Delhi – 110 044 to the present address w.e.f. 26.02.2010
PERFORMANCE DURING
THE YEAR:
During the year, Company’s Turnover has increased from Rs.13051.000
millions to Rs.14106.660 millions by over 8% and the losses after tax reduced
to Rs.302.714 millions from Rs.761.564 millions i.e. by more than 60% during
Financial Year 2009-10. This improvement is mainly because of favourable
Foreign Exchange rate.
AMALGAMATION:
During the year, Board at its meeting held on 23rd August,
2010 decided to merge two of the group companies namely LK India Private
Limited and Schneider Electric Conzerv India Private Limited. In order to
economize the cost of operations and better control, the merger process has
been initiated. The appointment date taken is April 01, 2010.
ACQUISITION OF
ZICOM’S SYSTEM INTEGRATION BUSINESS:
In April 2010 Company has acquired assets from Zicom Electronic Security
Systems Limited for electronic security systems integration business, namely
the Building Solutions Group and the Special Projects Group.
Zicom was the largest independent electronic security systems integrator
in
With this acquisition Schneider Electric has reinforced its position as
the Global Specialist in Energy Management and Security in the Buildings and
Infrastructure Markets.
CONTINGENT
LIABILITY NOT PROVIDED FOR:
|
Particulars |
31.03.2010 (Rs.
in millions) |
|
Demand from income tax authority disputed by the company * |
112.234 |
|
Demand from sales tax authority disputed by the company * |
109.570 |
|
Demand from excise authority disputed by the company * |
60.660 |
|
|
|
* Based on the favorable decision in similar cases/ legal opinions taken
by the company/ discussions with the solicitors etc., the company believes that
there is a fair chance of decision in its favor for all items listed above and
hence no provision there against is considered necessary.
FIXED ASSETS
·
Land – Leasehold
·
Leasehold Improvements
·
Building
·
Plant and machinery
·
Furniture and Fixture
·
Office Equipment
·
Data Processing
Equipments
·
Vehicles
·
Goodwill
·
Trade Mark
·
Software
WEB DETAILS
HISTORY
The history of Schneider Electric
From 1836 to today,
Schneider Electric has transformed itself into the global specialist in energy
management. Starting from its roots in the iron and steel industry, heavy
machinery, and ship building, it moved into electricity and automation
management. After 170 years of history, Schneider Electric has become today the
solution provider that will help you make the most of your energy.
Discover its transformation below.
19th century
1836: The Schneider brothers took over the Creusot foundries. Two years
later, they created Schneider and Cie.
1891: Having become an armaments specialist, Schneider innovated by launching
itself into the emerging electricity market.
First half of the 20th century
1919: Installation of Schneider in
In the years that followed, Schneider associated with Westinghouse, a major
international electrical group. The Group enlarged its activity to
manufacturing electrical motors, electrical equipment for power stations and
electric locomotives.
Post war: Schneider gradually abandoned armaments and turned to construction,
iron and steel works and electricity. The company was completely
reorganised in order to diversify and open up to new markets.
Late 20th century
1981-1997: Schneider Group continued to focus on the electrical industry by
separating from its non-strategic activities. This policy was given
concrete form through strategic acquisitions by Schneider Group: Telemecanique
in 1988, Square D in 1991 and Merlin Gerin in 1992.
1999: Development of Installation, Systems and Control with the acquisition
of Lexel,
2000-2009: Period of organic growth, positioning itself in new market segments:
UPS (uninterruptible power supply), movement control, building automation and
security through acquisitions of APC, Clipsal, TAC, Pelco, Xantrex, and more.
The history of Schneider Electric in
2010 -
Acquisition of Zicom's electronic security systems integration business
2009 - Launch of Bip Bop Sustainable Development
Programme
Acquisition of Conzerv (leader in Metering and Energy audits)
Acquisition of Meher Capacitors (leader in Power Factor Correction)
2007 -
Introduction of APC and Pelco
2006 -
Establishing Projects and Services, for turnkey solution,
2005 -
Introduction of TAC and VDI
2004 -
Integration of Clipsal business
2003 -
Inauguration of
2002 -
Establishment of Solution and Application Centre for Automation Projects
2000 -
S and S Switchgear and CGLV acquisition
1995 - Schneider
Electric: 100% subsidiary
1984 -
J V with TMC
1963 -
J V with Tata MG
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.46.02 |
|
|
1 |
Rs.75.42 |
|
Euro |
1 |
Rs.66.70 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
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 |
2 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
26 |
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.