|
Report Date : |
16.04.2012 |
IDENTIFICATION DETAILS
|
Name : |
NIMA ENGINEERING PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Plot No.872, G.I.D.C., Makarpura, Vadodara – 390 010, |
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Country : |
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|
|
|
Financials (as
on) : |
31.03.2011 |
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|
|
|
Date of
Incorporation : |
05.07.1990 |
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|
|
Com. Reg. No.: |
04-013996 |
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|
Capital
Investment / Paid-up Capital : |
Rs.1.000 million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U29199GJ1990PTC013996 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
BRDN00523F |
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|
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PAN No.: [Permanent Account No.] |
AAACN6679B |
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|
Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturers of Centrifuges. |
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|
No. of Employees
: |
Information declined by the management |
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 215000 |
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|
Status : |
Satisfactory |
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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. 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.
INFORMATION DECLINED BY
|
Name : |
Mr. Kaushik Patel |
|
Designation : |
Accounts Department |
|
Contact No.: |
91-265-2655149 |
|
Date : |
14.04.2012 |
LOCATIONS
|
Registered Office/ Factory : |
Plot No.872, G.I.D.C., Makarpura, Vadodara – 390 010, |
|
Tel. No.: |
91-265-2655149/ 2636041/ 2634023 |
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Fax No.: |
91-265-2655149/ 2636041/ 2634023 |
|
E-Mail : |
DIRECTORS
As on 28.09.2011
|
Name : |
Mr. Pinakin Ramlal Parikh |
|
Designation : |
Chairman and Managing Director |
|
Address : |
|
|
Date of Birth/Age : |
05.08.1943 |
|
Date of Appointment : |
05.07.1990 |
|
DIN No.: |
00469001 |
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|
|
|
Name : |
Mr. Mayank Pinakin Parikh |
|
Designation : |
Director |
|
Address : |
|
|
Date of Birth/Age : |
07.09.1971 |
|
Date of Appointment : |
15.12.1995 |
|
DIN No.: |
00469201 |
|
|
|
|
Name : |
Mr. Chandrakant Kanubhai Patel |
|
Designation : |
Director |
|
Address : |
40, Sampatrao Colony, |
|
Date of Birth/Age : |
10.08.1941 |
|
Date of Appointment : |
15.12.1995 |
|
DIN No.: |
00479885 |
KEY EXECUTIVES
|
Name : |
Mr. Kaushik Patel |
|
Designation : |
Accounts Department |
|
E-Mail : |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 28.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
Salila Parikh |
|
50 |
|
Ilaben Sheth |
|
50 |
|
Rajul Sheth |
|
150 |
|
Niraj Parikh |
|
1000 |
|
Mayank Parikh |
|
1000 |
|
Chandrakant Patel |
|
50 |
|
Pinakin Parikh jointly with Smita Parikh |
|
3450 |
|
Pinakin Parikh |
|
1750 |
|
Pinakin Parikh jointly with Mayank Parikh |
|
650 |
|
Pinakin Parikh jointly with Niraj P. Parikh |
|
1250 |
|
Smita Parikh jointly with Pinakin Parikh |
|
600 |
|
Total |
|
10000 |
As on 28.09.2011
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Directors
or relatives of directors |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturers of Centrifuges. |
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Products : |
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GENERAL INFORMATION
|
Suppliers : |
v
Accurate
Engineers v
ACD Machine
Control Company (Private) Limited v
Ambica
Industrial Engineers v
Associated
Roadcargo Carriers v
Bhagirath
Bearings Private Limited v
D.
Parikh Engg. Works v
DPEW-Tech
Fees and Business Comm. v
Jindal
Stainless Steelway Limited v
Karan
Enterprises v
Vrushabh
Traders v
Waves
Engineering v
Shree
Enterprise v
S.V.
Fabricators v
Prime
Tech Cast Private Limited v
Kalpana
Gases v
Kedar
Metal |
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Customers : |
v
Arch Fine Chem Limited v
Atul Limited v
FDC Limited v
IPCA Laboratories Limited v
Multi Organics Private Limited v
Matrix Laboratories Limited v
Dr. Reddy’s Laboratories Limited v
Organic Industries Limited v
Sun Pharmaceuticals Ind. Limited v
Nectar Lifesciences Limited v
Unimark Remedies Limited v
Pfizer Pharmaceuticals India Limited v
Mehta API Private Limited v
CTX Lifescience Limited v
Cadila Healthcare Limited |
||||||||||||||||||||||||
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|
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No. of Employees : |
Information declined by the management |
||||||||||||||||||||||||
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|
||||||||||||||||||||||||
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Bankers : |
v Small Industries
Development Bank of v Standard
Chartered Bank v State Bank of v Bank of v HDFC Bank
Limited |
||||||||||||||||||||||||
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|
||||||||||||||||||||||||
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Facilities : |
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|
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Banking
Relations : |
-- |
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|
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|
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Auditors : |
|
|
Name : |
D.C. Parikh and Company Chartered Accountants (D.C. Parikh) |
|
Address : |
307, Payal Tower, D. Complex, Near New Stock Exchange,
Sayajiganj, Vadodara
– 390 005, |
|
Tel. No.: |
91-265-2361914 |
|
Income-tax
PAN of auditor or auditor's firm : |
ACTPP2420L |
|
|
|
|
Related Parties : |
v
D. Parikh Engg. Works v
Fluid Controls |
CAPITAL STRUCTURE
As on 28.09.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
10000 |
Equity Shares |
Rs.100/- each |
Rs.1.000 million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
10000 |
Equity Shares |
Rs.100/- each |
Rs.1.000 million |
|
|
|
|
|
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 |
1.000 |
1.000 |
1.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
52.859 |
42.539 |
33.010 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
53.859 |
43.539 |
34.010 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
21.300 |
12.015 |
12.015 |
|
|
TOTAL BORROWING |
21.300 |
12.015 |
12.015 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.014 |
0.059 |
|
|
|
|
|
|
|
|
TOTAL |
75.159 |
55.568 |
46.084 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
30.787 |
10.693 |
10.295 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
26.150 |
23.011 |
18.500 |
|
|
DEFERRED TAX ASSETS |
0.045 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
33.492
|
24.876 |
13.405 |
|
|
Sundry Debtors |
8.959
|
5.649 |
12.551 |
|
|
Cash & Bank Balances |
1.065
|
3.211 |
8.687 |
|
|
Other Current Assets |
4.271
|
6.251 |
0.598 |
|
|
Loans & Advances |
7.223
|
6.877 |
6.480 |
|
Total
Current Assets |
55.010
|
46.864 |
41.721 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
15.324 |
9.622 |
11.012 |
|
|
Other Current Liabilities |
15.900
|
10.088 |
8.162 |
|
|
Provisions |
5.609
|
5.290 |
5.258 |
|
Total
Current Liabilities |
36.833
|
25.000 |
24.432 |
|
|
Net Current Assets |
18.177
|
21.864 |
17.289 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
75.159 |
55.568 |
46.084 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Domestic Sales |
119.726 |
97.192 |
110.008 |
|
|
|
Export Sales |
0.000 |
0.000 |
3.775 |
|
|
|
Other Income |
3.256 |
3.416 |
3.577 |
|
|
|
TOTAL |
122.982 |
100.608 |
117.360 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Increase/ Decrease in finished goods/ semi finished goods stock |
(1.469) |
(9.957) |
12.168 |
|
|
|
Raw Materials, Stocks and Spares Consumed |
74.257 |
66.846 |
63.674 |
|
|
|
Manufacturing Expenses |
17.467 |
14.220 |
11.866 |
|
|
|
Office and Administrative Expenses |
10.304 |
8.825 |
8.696 |
|
|
|
Selling and Distribution Expenses |
4.404 |
3.952 |
4.181 |
|
|
|
TOTAL |
104.963 |
83.886 |
100.585 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
18.019 |
16.722 |
16.775 |
|
|
|
|
|
|
|
|
|
Less |
INTEREST &
FINANCIAL EXPENSES |
1.839 |
1.608 |
1.738 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
16.180 |
15.114 |
15.037 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
0.713 |
0.634 |
0.633 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
15.467 |
14.480 |
14.404 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
5.146 |
4.932 |
4.922 |
|
|
|
|
|
|
|
|
|
Less |
Income Tax of
earlier years |
0.001 |
0.018 |
0.018 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX |
10.320 |
9.530 |
9.464 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
42.540 |
33.010 |
23.546 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
52.860 |
42.540 |
33.010 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
0.000 |
0.000 |
3.775 |
|
|
TOTAL EARNINGS |
0.000 |
0.000 |
3.775 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
1031.96 |
952.95 |
946.37 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
8.39
|
9.47 |
8.06 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
12.92
|
14.90 |
12.66 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
18.03
|
25.16 |
27.69 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.29
|
0.33 |
0.42 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.08
|
0.85 |
1.07 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.49
|
1.87 |
1.71 |
LOCAL AGENCY FURTHER INFORMATION
Details of Sundry Creditors:
|
Particulars |
31.03.2011 (Rs. in millions) |
31.03.2010 (Rs. in millions) |
31.03.2009 (Rs. in millions) |
|
Sundry Creditors (For Goods, Expenses and
Services) |
|
|
|
|
- To SSI Units |
0.000 |
0.000 |
0.000 |
|
- To Others |
15.324 |
9.622 |
11.012 |
|
Total |
15.324 |
9.622 |
11.012 |
Details of Sundry Creditors: (Partial
Details)
|
Particulars |
31.03.2011 (Rs. in millions) |
31.03.2010 (Rs. in millions) |
31.03.2009 (Rs. in millions) |
|
List of Creditors (Goods) |
|
|
|
|
Accurate
Engineers |
0.352 |
0.133 |
NA |
|
ACD Machine
Control Company (Private) Limited |
0.014 |
0.022 |
NA |
|
Ambica Industrial
Engineers |
0.167 |
0.073 |
NA |
|
Associated
Roadcargo Carriers |
0.291 |
0.078 |
NA |
|
Bhagirath
Bearings Private Limited |
0.048 |
0.337 |
NA |
|
D. Parikh Engg.
Works |
0.272 |
0.063 |
NA |
|
DPEW-Tech Fees
and Business Comm. |
1.316 |
0.933 |
NA |
|
Jindal Stainless
Steelway Limited |
2.109 |
0.381 |
NA |
|
Karan Enterprises
|
2.718 |
2.416 |
NA |
|
Vrushabh Traders |
0.455 |
0.409 |
NA |
|
Waves Engineering
|
0.723 |
0.567 |
NA |
|
Shree Enterprise |
0.110 |
0.082 |
NA |
|
S.V. Fabricators |
0.551 |
0.494 |
NA |
|
Prime Tech Cast
Private Limited |
0.254 |
0.094 |
NA |
|
Kalpana Gases |
0.003 |
0.005 |
NA |
|
Kedar Metal |
0.009 |
0.006 |
NA |
|
Check List by Info Agents |
Available in Report (Yes / No) |
|
1) Year of
Establishment |
Yes |
|
2) Locality of
the firm |
Yes |
|
3) Constitutions
of the firm |
Yes |
|
4) Premises
details |
No |
|
5) Type of
Business |
Yes |
|
6) Line of
Business |
Yes |
|
7) Promoter’s
background |
Yes |
|
8) No. of
employees |
No |
|
9) Name of person
contacted |
Yes |
|
10) Designation
of contact person |
Yes |
|
11) Turnover of
firm for last three years |
Yes |
|
12) Profitability
for last three years |
Yes |
|
13) Reasons for
variation <> 20% |
-- |
|
14) Estimation for
coming financial year |
No |
|
15) Capital in
the business |
Yes |
|
16) Details of
sister concerns |
Yes |
|
17) Major
suppliers |
Yes |
|
18) Major
customers |
Yes |
|
19) Payments
terms |
No |
|
20) Export /
Import details (if applicable) |
No |
|
21) Market
information |
-- |
|
22) Litigations
that the firm / promoter involved in |
-- |
|
23) Banking
Details |
Yes |
|
24) Banking
facility details |
Yes |
|
25) Conduct of
the banking account |
-- |
|
26) Buyer visit
details |
-- |
|
27) Financials, if
provided |
Yes |
|
28) Incorporation
details, if applicable |
Yes |
|
29) Last accounts
filed at ROC |
Yes |
|
30) Major
Shareholders, if available |
Yes |
FINANCIAL
HIGHLIGHTS:
The company has achieved a turnover of Rs.119.726 millions as compared
to Rs.97.192 millions of the previous year, net profit increased to Rs.15.467
millions from to Rs.14.480 millions of the previous year.
CONTINGENT
LIABILITIES: (AS ON 31.03.2011)
Company has Contingent Liabilities of outstanding Guarantee issued by
Standard Chartered Bank for Rs.5.748 millions and by State Bank of
Bankers Charges
Report as per Registry
|
Corporate identity
number of the company |
U29199GJ1990PTC013996 |
|
Name of the
company |
NIMA ENGINEERING PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
Plot No.872, G.I.D.C., Makarpura, Vadodara – 390 010, E-Mail: neplbrd@eth.net |
|
This form is for |
Creation of
charge |
|
Type of charge |
Immovable
Property |
|
Particular of
charge holder |
Small Industries
Development Bank of E-Mail: mansi@sidbi.in |
|
Nature of description
of the instrument creating or modifying the charge |
Memorandum of
Deposit of Title Deeds dated 19.03.2012 |
|
Date of
instrument Creating the charge |
19.03.2012 |
|
Amount secured by
the charge |
Rs.35.000
millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest: PLR+ 50 bps p.a.
(Floating) with monthly rests. Terms of
Repayment: Repayable in 66
monthly installments after a moratorium of 6 months from the date of first disbursement. Margin: 46.81% Extent and
Operation of the charge: First charge by
way of mortgage on immovable properties, for the repayment to the Bank of all
monies including the principal sums, interest, cost, charges, expenses, and other
monies payable from time to time and that all rights, remedies, terms,
conditions to be observed by the Company for the Term Loan amounting to
Rs.35.000 millions. |
|
Short particulars
of the property charged |
Land and Building
bearing R.S. No.106/P, 107/P, 108/P admeasuring 1352.74 sq. mtrs. situated at
Plot No.872, GIDC Industrial Estate, Makarpura, Vadodara. Plot No.628/9, at
GIDC, Savli, bearing R.S. No.1481 part of Manjusar, 68/part and 69/part of
Zumkal and 72/part within village limits of Alindra Taluka Savli, District
Vadodara admeasuring 15547.54 sq. mtrs. |
FIXED ASSETS:
v Land and Site Development
v Land Savli GIDC
v
v Air Conditioner
v Dies and Jigs
v Plant and Machinery
v Electrical Installation
v Furniture and Fixtures
v Mobile Phone
v Office Equipments
v Computer
v Vehicle
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.51.42 |
|
|
1 |
Rs.81.93 |
|
Euro |
1 |
Rs.67.67 |
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 |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--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.