MIRA
INFORM REPORT
|
Report Date : |
31.08.2012 |
IDENTIFICATION DETAILS
|
Name : |
POLISETTY SOMASUNDARAM TOBACCO THRESHERS PRIVATE LIMITED (w.e.f.
21.11.1997) |
|
|
|
|
Formerly Known
As : |
STANDARD COMMERCIAL TOBACCOS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
8-24-31, Mangalagiri Road, Guntur-522001, Andhra Pradesh |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
18.02.1992 |
|
|
|
|
Com. Reg. No.: |
01-013864 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs. 27.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U16001AP1992PTC013864 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
HYDP01542C |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCP3549D |
|
|
|
|
Legal Form : |
Private Limited Liability Company. |
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|
|
|
Line of Business
: |
Exporter and Trader of Tobacco and
Tobacco Products |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (51) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 670000 |
|
|
|
|
Status : |
Good |
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|
|
|
Payment Behaviour : |
Regular |
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|
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|
Litigation : |
Clear |
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|
Comments : |
Subject is a well established company having fine track. Financial
position of the company appears to be sound. Profitability seems to be good. Trade relations are reported as trustworthy. Business is active.
Payments are reported to be regular and as per commitments. The company can be considered good 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 – June 30, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
India is developing into an open-market economy, yet traces
of its past autarkic policies remain. Economic liberalization, including
industrial deregulation, privatization of state-owned enterprises, and reduced
controls on foreign trade and investment, began in the early 1990s and has
served to accelerate the country's growth, which has averaged more than 7% per
year since 1997. India's diverse economy encompasses traditional village
farming, modern agriculture, handicrafts, a wide range of modern industries,
and a multitude of services. Slightly more than half of the work force is in
agriculture, but services are the major source of economic growth, accounting
for more than half of India's output, with only one-third of its labor force.
India has capitalized on its large educated English-speaking population to
become a major exporter of information technology services and software
workers. In 2010, the Indian economy rebounded robustly from the global
financial crisis - in large part because of strong domestic demand - and growth
exceeded 8% year-on-year in real terms. However, India's economic growth in
2011 slowed because of persistently high inflation and interest rates and
little progress on economic reforms. High international crude prices have
exacerbated the government's fuel subsidy expenditures contributing to a higher
fiscal deficit, and a worsening current account deficit. Little economic reform
took place in 2011 largely due to corruption scandals that have slowed legislative
work. India's medium-term growth outlook is positive due to a young population
and corresponding low dependency ratio, healthy savings and investment rates,
and increasing integration into the global economy. India has many long-term
challenges that it has not yet fully addressed, including widespread poverty,
inadequate physical and social infrastructure, limited non-agricultural
employment opportunities, scarce access to quality basic and higher education,
and accommodating rural-to-urban migration.
|
Source
: CIA |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
BBB+ (Export Packing Credit) |
|
Rating Explanation |
Moderate degree of safety and moderate credit risk |
|
Date |
26.12.2011 |
|
Rating Agency Name |
CRISIL |
|
Rating |
A2 (Short Term Bank Loan Facility) |
|
Rating Explanation |
Strong degree of safety and low credit risk |
|
Date |
26.12.2011 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter in
the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
LOCATIONS
|
Registered Office : |
8-24-31, Mangalagiri Road, Guntur-522001, Andhra Pradesh, India |
|
Tel. No.: |
91-863-2221852 |
|
Fax No.: |
91-863-2356768 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Factory : |
Kaza, Mangalagiri MAndal, Guntur-522503, Andhra Pradesh, India |
|
Tel No.: |
91-8645-248152 |
DIRECTORS
AS ON 29.09.2011
|
Name : |
Mr. Sundar Shyam Polisetty |
|
Designation : |
Managing Director |
|
Address : |
Sundaram Colony, Ring Road, Guntur, Andhra Pradesh, India |
|
Date of Birth/Age : |
28.05.1969 |
|
Date of Appointment : |
18.02.1992 |
|
DIN No.: |
00187725 |
|
|
|
|
Name : |
Ms. Rekha Manikaya Polisetty |
|
Designation : |
Director |
|
Address : |
Sundaram Colony, Ring Road, Guntur, Andhra Pradesh, India |
|
Date of Birth/Age : |
12.06.1976 |
|
Date of Appointment : |
18.02.1992 |
|
DIN No.: |
00079358 |
|
|
|
|
Name : |
Mr. Bommidala Srikrishna Murthy |
|
Designation : |
Director |
|
Address : |
Ring Road, Guntur, Andhra Pradesh, India |
|
Date of Birth/Age : |
22.09.1936 |
|
Date of Appointment : |
18.02.1992 |
|
DIN No.: |
00092974 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 29.09.2011
|
Names of Shareholders |
No. of Shares |
|
Sundar Shyam Polisetty |
1800000 |
|
Bommidala Srikrishna Murthy |
635600 |
|
Rekha Manikaya Polisetty |
264400 |
|
TOTAL
|
2700000 |
AS ON 29.09.2011
|
Equity Shares
Break Up |
Percentage of
Holding |
|
Directors or relatives of Directors |
100.00 |
|
TOTAL |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Exporter and Trader of Tobacco and
Tobacco Products |
PRODUCTION STATUS (AS ON : 31.03.2011)
|
Particulars |
Unit |
Installed
Capacity |
|
|
|
|
|
Tobacco Threshing |
Tone Per Hour
Tons |
5 |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
||||||||||||||||||||||||||||||||||||
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Bankers : |
·
Axis Bank, 9th Lane, 1st
Cross Road, Arundelpet Guntur-522002, Andhra Pradesh, India |
||||||||||||||||||||||||||||||||||||
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Facilities : |
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Banking
Relations : |
-- |
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|
|
|
Auditors : |
|
|
Name : |
Ganapathic Chartered Accountant |
|
Address : |
5-37-172, 4/12, Brodipet, Guntur-522002, Andhra Pradesh, India |
|
PAN No.: |
ABLPC6977C |
CAPITAL STRUCTURE
AS ON 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
6000000 |
Equity Shares |
Rs.10/- each |
Rs. 60.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2700000 |
Equity Shares |
Rs.10/- each |
Rs. 27.000
Millions |
|
|
|
|
|
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 |
27.000 |
27.000 |
27.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
142.220 |
98.077 |
77.931 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
169.220 |
125.077 |
104.931 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
541.763 |
182.534 |
335.319 |
|
|
2] Unsecured Loans |
22.632 |
36.570 |
19.554 |
|
|
TOTAL BORROWING |
564.395 |
219.104 |
354.873 |
|
|
DEFERRED TAX LIABILITIES |
14.064 |
12.800 |
11.897 |
|
|
|
|
|
|
|
|
TOTAL |
747.679 |
356.981 |
471.701 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
174.594 |
146.464 |
109.015 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
5.487 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
44.219
|
14.054 |
22.198 |
|
|
Sundry Debtors |
758.220
|
235.449 |
462.143 |
|
|
Cash & Bank Balances |
83.582
|
38.640 |
48.934 |
|
|
Other Current Assets |
9.412
|
16.785 |
32.723 |
|
|
Loans & Advances |
33.152
|
18.147 |
3.886 |
|
Total
Current Assets |
928.585
|
323.075 |
569.884 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
329.989
|
100.212 |
181.025 |
|
|
Other Current Liabilities |
0.232
|
0.390 |
0.003 |
|
|
Provisions |
25.279
|
11.956 |
31.657 |
|
Total
Current Liabilities |
355.500
|
112.558 |
212.685 |
|
|
Net Current Assets |
573.085
|
210.517 |
357.199 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
747.679 |
356.981 |
471.701 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Tobacco Sales |
123.188 |
283.158 |
500.647 |
|
|
|
DEPB Premium Charges |
NA |
1.175 |
0.000 |
|
|
|
Redrying and Threshing Charges |
NA |
147.189 |
131.267 |
|
|
|
Chemical Analysis Charges |
NA |
1.825 |
0.915 |
|
|
|
Dollars Exchange Difference |
NA |
11.300 |
0.00 |
|
|
|
Interest Received |
5.849 |
0.286 |
1.989 |
|
|
|
Miscellaneous Income |
NA |
0.039 |
0.000 |
|
|
|
TOTAL (A) |
NA |
444.972 |
634.818 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Goods Sold |
|
226.996 |
426.517 |
|
|
|
Electrical Charges and Fuel |
|
32.547 |
38.984 |
|
|
|
Workmen Wages and Other Expenses |
|
24.002 |
23.666 |
|
|
|
Provident Fund |
|
1.262 |
1.205 |
|
|
|
Packing Material |
|
5.941 |
6.340 |
|
|
|
Taxes, Licenses and Fee’s |
|
0.637 |
0.389 |
|
|
|
Factory General Expenses |
|
1.097 |
1.771 |
|
|
|
Staff General Expenses |
|
5.446 |
4.740 |
|
|
|
Tobacco Handling Charges |
|
0.000 |
0.899 |
|
|
|
Plant Repairs and Maintenance |
|
55.564 |
32.311 |
|
|
|
Building Maintenance |
|
1.447 |
4.810 |
|
|
|
Repairing Charges |
NA |
4.292 |
2.571 |
|
|
|
Insurance Charges |
|
2.391 |
1.398 |
|
|
|
Vehicles Maintenance |
|
0.712 |
0.576 |
|
|
|
Postage and Telephone Charges |
|
0.078 |
0.071 |
|
|
|
Printing and Stationary |
|
0.215 |
0.174 |
|
|
|
Computers Maintenance Charges |
|
0.082 |
0.012 |
|
|
|
Membership Fees |
|
0.010 |
0.010 |
|
|
|
Watch and Ward Expenses |
|
0.781 |
0.657 |
|
|
|
Travelling Expenses |
|
0.123 |
0.199 |
|
|
|
Remuneration (Managerial) |
|
0.600 |
0.600 |
|
|
|
Shipment Expenses (Tobacco) |
|
4.835 |
5.721 |
|
|
|
Miscellaneous Expenses |
|
3.581 |
1.318 |
|
|
|
TOTAL (B) |
NA |
372.639 |
554.939 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
135.630 |
72.333 |
79.879 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
55.348 |
30.320 |
42.017 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
80.282 |
42.013 |
37.862 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
12.442 |
10.709 |
8.914 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
67.840 |
31.304 |
28.948 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
23.697 |
11.158 |
11.036 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
44.143 |
20.146 |
17.912 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
NA |
56.302 |
38.390 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
NA |
76.448 |
56.302 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
340.945 |
252.382 |
NA |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
16.35 |
-- |
-- |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
NA
|
4.53 |
2.82 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
55.07
|
11.06 |
5.78 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
6.15
|
6.67 |
4.26 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.40
|
0.25 |
0.28 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
5.52
|
2.75 |
5.52 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.61
|
2.87 |
2.68 |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
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 |
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 |
No |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details
(if applicable) |
Yes |
|
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 |
|
31] |
Date of Birth
of Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of
Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External
Agency Rating, if available |
Yes |
OPERATIONS, INDUSTRIAL RELATIONS, CONSERVATION OF
ENERGY, TECHNOLOGY ABSORPTION
The operational
income earned during the period was Rs. 123.188 Millions. (61.624) Millions,
where the interest accrued on deposits being Rs 5.849 Millions (0.286) Million.
The net PROFIT incurred was of the order at Rs. 67.840 Millions (31.304)
Millions.
The relationship
with employees as welt as workers is cordial.
FIXED ASSETS
·
Factory Land and Building
·
Roads
·
Bore Wells
·
Electrical Installation
·
Water Tank
·
Weighing Scales
·
Cell Points
·
CC Cameras
·
Computers
·
Furniture and Fixtures
·
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 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. 55.64 |
|
|
1 |
Rs. 88.10 |
|
Euro |
1 |
Rs. 69.89 |
INFORMATION DETAILS
|
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 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--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 |
|
51 |
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.