|
Report Date : |
26.04.2012 |
IDENTIFICATION DETAILS
|
Name : |
HYQUIP SYSTEMS LIMITED (w.e.f.23.05.2008) |
|
|
|
|
Formerly Known
As : |
HYQUIP SYSTEMS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Hyquip House, 1-1-564/1/A, Golconda X Road, Hyderabad-500020, Andhra Pradesh |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2010 |
|
|
|
|
Date of
Incorporation : |
21.10.1987 |
|
|
|
|
Com. Reg. No.: |
01-007886 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 12.502 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U29219AP1987PLC007886 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
HYDH00241D |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACH4964M |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company. |
|
|
|
|
Line of Business
: |
Manufacturer of chain conveyors, air slides, table feeders, rotary airlocks,
screw lifts, bucket elevators, screw conveyors, flap valves, rotary stop
valve, belt conveyors etc. |
|
|
|
|
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 records.
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) |
|
India |
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 : |
Hyquip House, 1-1-564/1/A, Golconda X Road, Hyderabad-500020, Andhra Pradesh, India |
|
Tel. No.: |
91-40-30287213 / 14 / 27613222 |
|
Fax No.: |
91-40-27611468 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Corporate Office : |
“Hyquip House”, 8-2-120/76, Road No.2, Banjara Hills,
Hyderabad-500034, Andhra Pradesh, India |
|
Tel. No.: |
91-40-30285839 / 40 |
|
Fax No.: |
91-40-23608592 |
|
|
|
|
Other Offices : |
Located At ·
Delhi ·
Mumbai ·
Kolkata ·
Pune |
|
|
|
|
Offices in Middle East : |
Located At ·
Jeddah ·
Riyadh |
DIRECTORS
AS ON 24.09.2010
|
Name : |
Ms. Kuchikula Niveditha Reddy |
|
Designation : |
Director |
|
Address : |
H No A 42, IVR Prime Gachibow, R R District, Hyderabad-500009, Andhra Pradesh,
India |
|
Date of Birth/Age : |
19.09.1963 |
|
Date of Appointment : |
27.03.2008 |
|
DIN No.: |
00225909 |
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 |
U67120AP1994PTC016932 |
HYQUIP
ROTOLOK PRIVATE LIMITED |
Director |
25-01-94 |
25-01-94 |
Active |
YES |
|
2 |
U29219AP1987PLC007886 |
HYQUIP
SYSTEMS LIMITED |
Director |
27-03-08 |
27-03-08 |
Active |
NO |
|
Name : |
Mr. Kuchikula Balakrishna Reddy |
|
Designation : |
Managing Director |
|
Address : |
H No A 42, IVR Prime Gachibow, R R District, Hyderabad-500009, Andhra
Pradesh, India |
|
Date of Birth/Age : |
18.05.1958 |
|
Date of Appointment : |
27.03.2008 |
|
DIN No.: |
00225959 |
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 |
U29150AP1987PTC007543 |
HYQUIP
PROJECTS PRIVATE LIMITED |
Managing
director |
12-06-87 |
12-06-87 |
Amalgamated |
NO |
|
2 |
U74210AP2003PLC041508 |
HYQUIP
TECHNOLOGIES LIMITED |
Director |
21-04-08 |
13-08-03 |
Active |
NO |
|
3 |
U29100AP1996PLC024369 |
HYQUIP
AUTOMOTIONS LIMITED |
Director |
30-06-07 |
30-06-07 |
Active |
YES |
|
4 |
U29219AP1987PLC007886 |
HYQUIP
SYSTEMS LIMITED |
Managing
director |
01-04-10 |
27-03-08 |
Active |
NO |
|
Name : |
Mr. Kuchikula Raghunath Reddy |
|
Designation : |
Director |
|
Address : |
H No A 23, IVR Prime Gachibow, R R District, Hyderabad-500009, Andhra
Pradesh, India |
|
Date of Birth/Age : |
12.09.1928 |
|
Date of Appointment : |
21.10.1987 |
|
DIN No.: |
00226544 |
|
|
|
|
Name : |
Mr. Pasupuleti Madhava Rao Chakravarthy |
|
Designation : |
Director |
|
Address : |
H No.6-6-463/3, Near Ramalayam Gandhi Nagar, Secunderabad-500080,
Andhra Pradesh, India |
|
Date of Birth/Age : |
20.11.1968 |
|
Date of Appointment : |
27.03.2008 |
|
DIN No.: |
01524675 |
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 |
U67120AP1994PTC016932 |
HYQUIP
ROTOLOK PEIVATE LIMITED |
Whole-time
director |
12-06-00 |
12-06-00 |
Active |
YES |
|
2 |
U29219AP1987PLC007886 |
HYQUIP
SYSTEMS LIMITED |
Director |
27-03-08 |
27-03-08 |
Active |
NO |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 24.09.2010
|
Names of Shareholders |
No. of Shares |
|
Kuchikula Raghunath Reddy |
14498 |
|
Kuchikula Balakrishna Reddy |
34788 |
|
K Droopathi Devi |
2165 |
|
G Ranga Reddy |
850 |
|
Yadi Naresh Reddy |
756 |
|
Nookala Laxma Reddy |
752 |
|
Devani Ramesh Reddy |
652 |
|
Chamala Yadagiri Reddy |
702 |
|
Devani Ranga Reddy |
752 |
|
Suresh Reddy |
12604 |
|
Ravindra Nayalkonda |
10145 |
|
K Niveditha Reddy |
45497 |
|
B Harish |
33 |
|
P M Chakravarthy |
820 |
|
M P Fernando |
3 |
|
A Rahul Reddy |
3 |
|
Total |
125020 |
AS ON 24.09.2010
|
Equity Shares
Break Up |
Percentage |
|
Directors or relatives of Directors |
88.00 |
|
Other top fifty shareholders |
12.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of chain conveyors, air slides, table feeders, rotary
airlocks, screw lifts, bucket elevators, screw conveyors, flap valves, rotary
stop valve, belt conveyors etc. |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||
|
Bankers : |
·
Kotak Mahindra Bank Limited, 36-38A, Nariman
Bhavan, 227, D, Nariman Point, Mumbai-400021, Maharashtra, India |
||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
M. Anandam and Company Chartered Accountant |
|
Address : |
7A, Surya Towers, S. P. Road, Secunderabad-500003, Andhra Pradesh,
India |
|
Tel. No.: |
91-40-27812377 / 27812034 |
|
Fax No.: |
91-40-27812091 |
|
Pan No.: |
AACFM8791J |
|
|
|
|
Associates : |
·
Hyquip Projects Private Limited ·
Hyquip Technologies Limited |
CAPITAL STRUCTURE
AS ON 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
150000 |
Equity Shares |
Rs.100/- each |
Rs. 15.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
125020 |
Equity Shares |
Rs.100/-
each |
Rs. 12.502
Millions |
|
|
|
|
|
AS ON 24.09.2010
Authorised Capital : Rs. 47.500
Millions
Issued, Subscribed & Paid-up Capital : Rs. 47.500 Millions
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 |
12.502 |
12.502 |
12.502 |
|
|
2] Share Application Money |
6.000 |
2.000 |
1.700 |
|
|
3] Reserves & Surplus |
52.359 |
39.719 |
25.604 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
70.861 |
54.221 |
39.806 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
45.094 |
44.412 |
71.741 |
|
|
2] Unsecured Loans |
1.789 |
2.605 |
3.410 |
|
|
TOTAL BORROWING |
46.883 |
47.017 |
75.151 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
1.012 |
1.115 |
|
|
|
|
|
|
|
|
TOTAL |
117.744 |
102.250 |
116.072 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
49.538 |
49.556 |
34.059 |
|
|
Capital work-in-progress |
1.342 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.050 |
0.050 |
|
|
DEFERREX TAX ASSETS |
0.156 |
0.231 |
0.231 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
64.241
|
61.698 |
75.802 |
|
|
Sundry Debtors |
355.021
|
331.323 |
192.118 |
|
|
Cash & Bank Balances |
20.339
|
17.896 |
13.750 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
43.408
|
46.168 |
41.973 |
|
Total
Current Assets |
483.009
|
457.085 |
323.643 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
289.315
|
248.388 |
117.986 |
|
|
Other Current Liabilities |
117.068
|
146.745 |
119.883 |
|
|
Provisions |
9.918
|
9.539 |
4.042 |
|
Total
Current Liabilities |
416.301
|
404.672 |
241.911 |
|
|
Net Current Assets |
66.708
|
52.413 |
81.732 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
117.744 |
102.250 |
116.072 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Sales |
794.835 |
801.418 |
468.211 |
|
|
|
Export Sales |
4.615 |
14.680 |
75.115 |
|
|
|
Export Sales (Deemed) |
25.982 |
11.062 |
11.418 |
|
|
|
Refection and Commission Charges |
22.771 |
17.126 |
5.757 |
|
|
|
Other Income |
2.180 |
5.842 |
0.806 |
|
|
|
TOTAL (A) |
850.383 |
850.128 |
561.307 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Raw Material Consumed |
598.242 |
552.088 |
436.354 |
|
|
|
Manufacturing Expenses |
109.822 |
125.075 |
161.079 |
|
|
|
Administrative and Selling Expenses |
107.497 |
112.958 |
0.000 |
|
|
|
(Increase) / Decrease in Stock |
(2.749) |
14.237 |
(65.349) |
|
|
|
TOTAL (B) |
812.812 |
804.358 |
532.084 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
37.571 |
45.770 |
29.223 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
12.343 |
14.944 |
10.708 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
25.228 |
30.826 |
18.515 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
5.811 |
5.858 |
4.042 |
|
|
|
|
|
|
|
|
|
|
Prior Period
Income |
0.111 |
0.000 |
0.082 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
19.528 |
24.968 |
14.391 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
6.888 |
10.854 |
5.094 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
12.640 |
14.114 |
9.297 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
101.10 |
-- |
-- |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
1.49
|
1.66 |
1.66 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
2.46
|
3.12 |
3.07 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
3.67
|
4.93 |
4.02 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.28
|
0.46 |
0.36 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
6.54
|
8.35 |
7.99 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.16
|
1.13 |
1.34 |
LOCAL AGENCY FURTHER INFORMATION
|
Check List by Info Agents |
Available in Report (Yes / No) |
|
1. Year of Establishment |
Yes |
|
2. Locality of the firm |
Yes |
|
3. Constructions 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 |
No |
|
10. Designation of contact person |
No |
|
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 |
No |
|
18. Major customers |
No |
|
19. Payments terms |
No |
|
20. Export / Import details |
No |
|
21. Market information |
------ |
|
22. Litigations that the firm / promoter involved |
------ |
|
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 |
REVIEW OF
PERFORMANCE
The company is exploring new a avenues to improve its performance and is
expected to do well.
FORM 8
|
Corporate
identity number of the company |
U29219AP1987PLC007886 |
|
Name of the
company |
HYQUIP SYSTEMS
LIMITED |
|
Address of the registered
office or of the principal place of
business in |
Hyquip House, 1-1-564/1/A, Golconda X Road, Hyderabad-500020, Andhra Pradesh, India |
|
This form is for |
Creation of
charge |
|
Type of charge |
Movable property (not
being pledge) |
|
Particular of
charge holder |
Kotak Mahindra Bank Limited, 36-38A, Nariman Bhavan, 227, D, Nariman Point, Mumbai-400021, Maharashtra, India |
|
Nature of
instrument creating charge |
Deed of
Hypothecation. |
|
Date of instrument
Creating the charge |
13.01.2012 |
|
Amount secured by
the charge |
RS. 1.475
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of interest 6.3% p. a. Terms of repayment Equated Monthly Installment
(EMI) of Rs. 0.051 Million for 35 Months. Margin NIL. Extent and operation of the charge First and
exclusive charge by way of Hypothecation on the assets financed in favour of
Kotak Mahindra Bank. |
|
Short particulars
of the property charged (Including location of the property) |
One No. of
Hydraulic Shering Machine. |
FIXED ASSETS
·
Land
·
Building
·
Furniture and Fixtures
·
Type Writer
·
Plant and Machinery
·
Factory Lighting
·
Patterns
·
Vehicles
·
Computer
·
UPS
·
Refrigerator
·
Fax
·
Telex
·
Printer
·
Pen Plottor
·
Generator
·
Welding Equipments
·
Office Equipments
·
Cycle
·
Transformer
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] 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. 52.48 |
|
|
1 |
Rs. 84.65 |
|
Euro |
1 |
Rs. 69.25 |
INFORMATION DETAILS
|
Information Gathered
by : |
-- |
|
|
|
|
Report Prepared
by : |
DPT |
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.