1. Summary Information
|
|
|
Country |
|
|
Company Name |
ADVANCED FIBER
SYSTEMS PRIVATED LIMITED |
Principal Name 1 |
Mr. VijayKumar Puttaian Hulikunte |
|
Status |
Satisfactory |
Principal Name 2 |
Mr. Ravindra Vishnu Shanbhag |
|
|
|
Registration # |
08-030969 |
|
Street Address |
137/2, Service
Road10 Outer Ring Road, Banaswadi, Kalyana Nagar Post, |
||
|
Established Date |
05.09.2002 |
SIC Code |
-- |
|
Telephone# |
91-80-25459439/
40 |
Business Style 1 |
Manufacture |
|
Fax # |
Not Available |
Business Style 2 |
- |
|
Homepage |
-- |
Product Name 1 |
Fiber Optic |
|
# of employees |
Not Available |
Product Name 2 |
- |
|
Paid up capital |
Rs.10,000,000/- |
Product Name 3 |
- |
|
Shareholders |
Directors or relatives of
directors- 100% |
Banking |
State Bank of |
|
Public Limited Corp. |
NO |
Business Period |
9 Years |
|
IPO |
NO |
International Ins. |
- |
|
Public |
NO |
Rating |
Ba
(45) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
CEO |
|
- |
- |
- |
- |
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2011 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
50,230,000 |
Current Liabilities |
60,221,000 |
|
Inventories |
22,926,000 |
Long-term Liabilities |
8,126,000 |
|
Fixed Assets |
41,821,000 |
Other Liabilities |
14,385,000 |
|
Deferred Assets |
0,000 |
Total Liabilities |
82,732,000 |
|
Invest& other Assets |
126,000 |
Retained Earnings |
22,371,000 |
|
|
|
Net Worth |
32,371,000 |
|
Total Assets |
115,103,000 |
Total Liab. & Equity |
115,103,000 |
|
Total Assets (Previous Year) |
102,944,000 |
|
|
|
P/L Statement as of |
31.03.2011 |
(Unit: Indian Rs.) |
|
|
Sales |
124,693,000 |
Net Profit |
5320,000 |
|
Sales(Previous yr) |
108,823,000 |
Net Profit(Prev.yr) |
2,134,000 |
MIRA
INFORM REPORT
|
Report Date : |
06.04.2012 |
IDENTIFICATION DETAILS
|
Name : |
ADVANCED FIBER SYSTEMS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
137/2, Service Road10 Outer Ring Road, Banaswadi, Kalyana Nagar Post, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
05.09.2002 |
|
|
|
|
Com. Reg. No.: |
08-030969 |
|
|
|
|
Capital
Investment/ Paid-up Capital: |
Rs. 10.000 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74140KA2002PTC030969 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
BLRA06628G |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAECA1155D |
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|
|
|
Legal Form : |
Private Limited Liability Company |
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|
|
|
Line of Business
: |
Manufacturing of Fiber Optic Passive Components |
|
|
|
|
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 129484 |
|
|
|
|
Status : |
Satisfactory |
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|
|
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Payment Behaviour : |
Usually Correct |
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|
Litigation : |
Clear |
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|
Comments : |
Subject is an established company having satisfactory track. Trade relations
are reported as fair. Business is active. Payment are reported to be usually
correct and as per commitments. The company can be considered normal for business dealing at usual
trade term 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 : |
137/2, Service Road10 Outer Ring Road, Banaswadi, Kalyana Nagar Post, |
|
Tel. No.: |
91-80-25459439/ 40 |
|
Fax No.: |
91-40-25459440 |
|
E-Mail : |
DIRECTORS
As on: 30.09.2011
|
Name : |
Mr. VijayKumar Puttaian Hulikunte |
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|
Designation : |
Whole Time Director |
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|
Address : |
No. 93, Sri Ganesh Nilya, 5th Street, Bank Avenue,
Bangalore – 560043, Karnataka, India |
|||||||||||||||||||||||||||
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Date of Birth/Age : |
18.12.1963 |
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Date of Appointment : |
05.09.2002 |
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DIN No : |
00770727 |
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Other Directorship :
|
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|
|||||||||||||||||||||||||||
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Name : |
Mr. Ravindra Vishnu Shanbhag |
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|
Designation : |
Whole Time Director |
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Address : |
No.1/A, 15th Cross, Mahalakshmi Layout, |
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Date of Birth/Age : |
19.03.1962 |
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Date of Appointment : |
05.09.2009 |
|||||||||||||||||||||||||||
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DIN No : |
00771046 |
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Other Directorship :
|
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|
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MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 30.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
VijayKumar Puttaian Hulikunte |
|
500000 |
|
Ravindra Vishnu Shanbhag |
|
500000 |
|
|
|
|
|
Total |
|
1000000 |
As on: 30.09.2011
|
Category |
|
Percentage |
|
|
|
|
|
Directors or relatives of directors |
|
100.00 |
|
|
|
|
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing of Fiber Optic Passive Components |
|
|
|
PRODUCTION STATUS
|
Particulars |
Unit |
Actual
Production |
|
Class of goods Fiber Optic passive components |
Nos. |
196832 |
|
|
|
|
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
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|
|||||||||||||||
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Bankers : |
State Bank of |
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Facilities : |
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Banking
Relations : |
-- |
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|
|
Auditors : |
|
|
Name : |
B. Chandrashekhar and Company Chartered Accountants |
|
Address : |
No. 976, Guru Sadana, 5th B Cross, Outer Ring Road, Kalyana
Nagar 1st Block, Bangalore – 560043, Karnataka, India |
|
Fax No : |
Not Available |
|
PAN No : |
AAZPC8492R |
CAPITAL STRUCTURE
As on: 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1000000 |
Equity Share |
Rs.10/- each |
Rs. 10.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1000000 |
Equity Share |
Rs.10/- each |
Rs.10.000
Millions |
|
|
|
|
|
Notes
990000 Equity Share of Rs. 10 each allotted as fully paid up bonus shares.
Previous Year 10000 Equity Shares of Rs. 10 each
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 |
10.000 |
0.100 |
0.100 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
22.371 |
26.949 |
24.815 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
32.371 |
27.049 |
24.915 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
8.126 |
3.371 |
0.607 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
8.126 |
3.371 |
0.607 |
|
|
DEFERRED TAX LIABILITIES |
2.915 |
2.304 |
2.129 |
|
|
|
|
|
|
|
|
TOTAL |
43.412 |
32.724 |
27.651 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
41.821 |
35.084 |
27.391 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
22.926
|
13.604 |
9.854 |
|
|
Sundry Debtors |
23.223
|
29.025 |
45.410 |
|
|
Cash & Bank Balances |
6.668
|
3.988 |
19.851 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
20.339
|
21.243 |
17.301 |
|
Total
Current Assets |
73.156
|
67.860 |
92.416 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditor |
45.891
|
46.575 |
|
|
|
Other Current Liabilities |
14.330
|
14.459 |
|
|
|
Provisions |
11.470
|
9.186 |
8.827 |
|
Total
Current Liabilities |
71.691
|
70.220 |
92.156 |
|
|
Net Current Assets |
1.465
|
(2.360) |
0.260 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.126 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
43.412 |
32.724 |
27.651 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
124.693 |
108.823 |
194.513 |
|
|
|
Other Income |
NA |
NA |
NA |
|
|
|
TOTAL (A) |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Operational Expenses |
109.434 |
89.935 |
146.994 |
|
|
|
Administrative Expenses |
11.152 |
8.467 |
11.604 |
|
|
|
Selling Expenses |
2.053 |
2.824 |
18.098 |
|
|
|
TOTAL (B) |
122.639 |
101.226 |
176.696 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
7.511 |
7.162 |
83.349 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
0.804 |
0.434 |
2.114 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
6.707 |
6.728 |
6.235 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
4.032 |
4.059 |
1.874 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
7.995 |
2.669 |
13.828 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
2.675 |
0.535 |
4.361 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
5.320 |
2.134 |
9.467 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED TO
THE B/S |
22.372 |
26.949 |
24.816 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Sales |
0.218 |
6.006 |
1.183 |
|
|
|
Expenses Reimbursement |
0.133 |
0.000 |
0.000 |
|
|
|
Excess Payment refunded for Capital Goods |
0.355 |
0.000 |
0.000 |
|
|
TOTAL EARNINGS |
0.706 |
6.006 |
1.183 |
|
|
|
|
|
|
|
|
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|
IMPORTS |
|
|
|
|
|
|
|
Import of components |
21.296 |
24.055 |
43.055 |
|
|
|
Capital Goods |
4.080 |
5.279 |
2.151 |
|
|
TOTAL IMPORTS |
25.376 |
29.334 |
45.206 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
5.32 |
213.37 |
-- |
|
|
|
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|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
6.41
|
2.45 |
7.10 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
6.95
|
2.59 |
11.57 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.25
|
0.09 |
0.55 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
2.47
|
2.72 |
3.72 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.02
|
0.97 |
1.00 |
LOCAL AGENCY FURTHER INFORMATION
Bankers Charges
Report as per Registry
|
Corporate identity
number (CIN) or foreign company registration
number of the company |
U74140KA2002PTC030969 |
|
Name of the
company |
ADVANCED FIBER SYSTEMS PRIVATED LIMITED |
|
Address of the
registered office or of the principal place of business in |
137/2, Service Road10 Outer Ring Road, Banaswadi, Kalyana Nagar Post, E-Mail : vijay@afspl.com |
|
This form is for |
Modification
of charge |
|
Charge
identification (ID) number of the charge to be modified |
10210410 |
|
Type of charge |
|
|
Particular of
charge holder |
State Bank of E-Mail : rjr.cs69@gmail.com |
|
Nature of instrument
creating charge |
Agreement of loan
cum hypothecation form Adv-2 |
|
Date of
instrument Creating the charge |
11.04.2011 |
|
Amount secured by
the charge |
Rs. 34.000
Millions |
|
Brief of the principal
terms an conditions and extent and operation of the charge |
Rate of Interest
Terms of Repayment WCL – on
Demand.Advance is for a period of 12 months. TL – 1 : In 72
monthly installments of Rs. 0.125 Million each with start up period of 3
months. TL – 2 : In 72
monthly installments of Rs. 0.070 Million each with start up period of 3
months. Existing term
loan – as per existing term of sanction. Margin RM/SFG/FG/LC :
25% Receivables : 50% Term loan :
32.74% Extent and
operation of the charge Exclusive first
charge on the assets of the company and to the full extent. Others Cash credit Rs.
12.000 Miliion; LC Rs. 5.000 Million; TL-1 Rs. 9.000 Million; TL-2 Rs. 5.000
Million; existing term loan Rs. 3.000 Million; Total Rs. 34.000 Millions. |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
Hypo. of
company’s present and future movable fixed assets and current assets like
stock, raw material, semi finished and finished goods, Book debts,
receivable, outstanding monies, bills, rights, stores, components, furniture
and fittings; other movables, plant and machinery, vehicles and assets to be
purchased out of bank finance. |
|
Particulars of
the present modification |
The amount
secured by the charge stands increased to Rs. 34.000 Millions. The securities
described and detailed in col no 15 herein above continue for the enhanced
limit. All other terms and conditions remain unchanged. |
Fixed Assets:
- Land
- Plant and
Machinery
- Office
equipment
- Factory
equipment
- DG set
- Moulds
- Computer
Systems
- Air Conditioner
- Books
- Furniture and
Fixtures
- Motors Cars
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.51.05 |
|
|
1 |
Rs.81.09 |
|
Euro |
1 |
Rs.67.38 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
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 |
5 |
|
--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 |
|
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.