|
Report Date : |
22.12.2012 |
IDENTIFICATION DETAILS
|
Name : |
INFINIUM (INDIA) LIMITED |
|
|
|
|
Registered
Office : |
9th Floor, Shitiratha Off C G Road, Near Panchwati Circle, Ahmedabad-380006,
Gujarat |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2010 |
|
|
|
|
Date of
Incorporation : |
31.01.2000 |
|
|
|
|
Com. Reg. No.: |
04-037266 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.105.050 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U32109GJ2000PLC037266 |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
The company is in the business of Establishing Satellite Base Communication
Network and its other division is VSAT License Business. |
|
|
|
|
No. of Employees
: |
100 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (27) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 480000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having moderate track record. The
latest financials of the company are not made available. As per previous year’s record, there appear some accumulated losses
recorded by the company. Profitability also is low. However, trade relations are reported as fair. Business is active.
Payment terms are unknown in absence of latest financials. 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.
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 |
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.
INFORMATION DECLINED BY
|
Name : |
Mr. M. D. Makwana |
|
Designation : |
General Manager (Finance) |
|
Contact No.: |
91-9825014563 |
|
Date : |
21.12.2012 |
LOCATIONS
|
Registered Office : |
9th Floor, Shitiratha Off C G Road, Near Panchwati Circle, Ahmedabad-380006,
Gujarat, India |
|
Tel. No.: |
91-79-26440364 / 26448479 |
|
Mobile No.: |
91-9825014561 (Mr. N. D. Acharya) 91-9825014563 (Mr. M. D. Makwana) |
|
Fax No.: |
91-79-26561499 |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
|
|
|
|
Branch Office : |
A-710, Mittal Towers, M. G. Road, Bangalore-560001, Karnataka, India |
|
Tel. No.: |
91-80-64520628 |
|
E-Mail : |
|
|
|
|
|
Branch Office : |
2, Nirman Society, Rustom Patel Marg, Near Crossword, Alkapuri,
Vadodara-390005, Gujarat, India |
|
Tel. No.: |
91-265-2350876 / 2320206 |
|
Fax No.: |
91-265-2334990 |
|
E-Mail : |
|
|
|
|
|
Marketing Office : |
104, 10th Floor, GNFC Info-Tower, S. G. Road,
Ahmedabad-380054, Gujarat, India |
|
Tel. No.: |
91-79-26856481 / 82 / 83 |
|
Fax No.: |
91-79-26856484 |
DIRECTORS
AS ON 30.09.2011
|
Name : |
Mr. Malav Ajitbhai Mehta |
|
Designation : |
Director |
|
Address : |
Ami Jyot, Parimal Society, Ellisbridge, Ahmedabad-380006, Gujarat,
India |
|
Date of Appointment : |
31.01.2000 |
|
DIN No.: |
01234736 |
|
Name : |
Mr. Ajitbhai Champaklal Mehta |
|
Designation : |
Director |
|
Address : |
Ami Jyot, Parimal Society, Ellisbridge, Ahmedabad-380006, Gujarat,
India |
|
Date of Appointment : |
28.02.2000 |
|
DIN No.: |
01234707 |
|
Name : |
Mr. Maulik Jitendrakumar Chokshi |
|
Designation : |
Director |
|
Address : |
E-1/23, Shanti Nagar, Vejalpur, Ahmedabad-380051, Gujarat, India |
|
Date of Appointment : |
31.01.2000 |
|
DIN No.: |
03142763 |
KEY EXECUTIVES
|
Name : |
Mr. N. D. Acharya |
|
Designation : |
General Manager |
|
|
|
|
Name : |
Mr. M. D. Makwana |
|
Designation : |
General Manager (Finance) |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2011
|
Names of Shareholders |
No. of Shares |
|
Malav Ajitbhai Mehta |
1 |
|
Ajitbhai C. Mehta |
1 |
|
Vishal A. Mehta |
1 |
|
Jayshree A. Mehta |
1 |
|
Anoli Malav Mehta |
1 |
|
Nirali Vishal Mehta |
1 |
|
Ajitbhai C. Mehta HUF |
1 |
|
Tiw Ventures Inc. |
2080000 |
|
Infibeam Incorporation Limited |
11419993 |
|
Total |
13500000 |
AS ON 30.09.2011
|
Equity Shares
Break Up |
Percentage |
|
Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s),
Non-resident Indian(s) or Overseas Corporate bodies or Others |
15.41 |
|
Bodies corporate |
84.59 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
The company is in the business of Establishing Satellite Base
Communication Network and its other division is VSAT License Business. |
GENERAL INFORMATION
|
No. of Employees : |
100 (Approximately) |
||||||||||||||||||||||||||||||
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|
||||||||||||||||||||||||||||||
|
Bankers : |
|
||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||
|
Facilities : |
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Rajpara Associates Chartered Accountant |
|
Address : |
204, Nirman House, Behind Times of India, Ashram Road,
Ahmedabad-380009, Gujarat, India |
|
Tel. No.: |
91-79-26580827 |
|
E-Mail : |
|
|
Pan No.: |
AAJPR8270Q |
|
|
|
|
Subsidiaries : |
ING Satcom Limited CIN No.: U72900GJ2003PLC042818 |
CAPITAL STRUCTURE
AS ON 30.09.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
13500000 |
Equity Shares |
Rs.10/- each |
Rs.135.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
13500000 |
Equity Shares |
Rs.10/- each |
Rs.135.000
Millions |
|
|
|
|
|
AS ON 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
13500000 |
Equity Shares |
Rs.10/- each |
Rs.135.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10505000 |
Equity Shares |
Rs.10/- each |
Rs.105.050
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 |
105.050 |
105.050 |
100.000 |
|
|
2] Share Application Money |
28.259 |
28.253 |
18.253 |
|
|
3] Reserves & Surplus |
(11.709) |
(13.112) |
(13.318) |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
121.600 |
120.191 |
104.935 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
46.494 |
18.419 |
6.643 |
|
|
2] Unsecured Loans |
70.458 |
61.778 |
27.671 |
|
|
TOTAL BORROWING |
116.952 |
80.197 |
34.314 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
238.552 |
200.388 |
139.249 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
48.186 |
55.116 |
62.664 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
3.591 |
3.091 |
1.000 |
|
|
DEFERREX TAX ASSETS |
1.496 |
1.501 |
1.342 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
35.511
|
15.034 |
14.282 |
|
|
Sundry Debtors |
38.677
|
82.298 |
35.538 |
|
|
Cash & Bank Balances |
1.889
|
1.065 |
0.308 |
|
|
Other Current Assets |
125.871
|
41.124 |
15.471 |
|
|
Loans & Advances |
16.552
|
16.181 |
23.276 |
|
Total
Current Assets |
218.500
|
155.702 |
88.875 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
20.547
|
10.997 |
7.470 |
|
|
Other Current Liabilities |
12.917
|
7.165 |
10.303 |
|
|
Provisions |
2.703
|
0.000 |
0.193 |
|
Total
Current Liabilities |
36.167
|
18.162 |
17.966 |
|
|
Net Current Assets |
182.333
|
137.540 |
70.909 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
2.946 |
3.140 |
3.334 |
|
|
|
|
|
|
|
|
TOTAL |
238.552 |
200.388 |
139.249 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Sales |
189.641 |
109.202 |
93.983 |
|
|
|
Interest Income |
0.220 |
0.646 |
0.301 |
|
|
|
No Langer Payable / Receivable A/c |
0.577 |
0.164 |
4.134 |
|
|
|
Other Income |
0.178 |
0.911 |
0.591 |
|
|
|
TOTAL (A) |
190.616 |
110.923 |
99.009 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Sales |
147.277 |
51.235 |
56.137 |
|
|
|
Administrative Expenses |
13.415 |
20.023 |
11.653 |
|
|
|
Preliminary Expenses |
0.194 |
0.194 |
0.194 |
|
|
|
Direct Expenses |
13.965 |
25.827 |
18.721 |
|
|
|
TOTAL (B) |
174.851 |
97.279 |
86.705 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
15.765 |
13.644 |
12.304 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
6.003 |
4.031 |
1.683 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
9.762 |
9.613 |
10.621 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
7.610 |
8.819 |
9.647 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
2.152 |
0.794 |
0.974 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
0.748 |
0.576 |
0.453 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
1.404 |
0.218 |
0.521 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
0.13 |
0.02 |
0.05 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
0.74
|
0.20 |
0.53 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
1.13
|
0.73 |
1.04 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.80
|
0.37 |
0.64 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.02
|
0.01 |
0.01 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.26
|
0.82 |
0.50 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
6.04
|
8.57 |
4.95 |
LOCAL AGENCY FURTHER INFORMATION
SUNDRY CREDITORS
DETAILS
(Rs.
In Millions)
|
Particulars |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
|
|
|
Sundry Creditors |
20.547
|
10.997 |
7.470 |
|
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 |
Yes |
|
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 |
No |
|
18] |
Major customers |
No |
|
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 |
No |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
No |
|
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 |
No |
FORM 8
|
Corporate
identity number of the company |
U32109GJ2000PLC037266 |
|
Name of the
company |
INFINIUM (INDIA)
LIMITED |
|
Address of the
registered office or of the principal place of business in |
9th Floor, Shitiratha Off C G Road, Near Panchwati Circle, Ahmedabad-380006, Gujarat, India |
|
This form is for |
Creation of
charge |
|
Type of charge |
Book debts Movable property
(not being pledge) |
|
Particular of charge
holder |
Union Bank of India, Karaka Building No.1, Ashram Road, Ellisbridge, Ahmedabad-380009, Gujarat, India |
|
Nature of
instrument creating charge |
Composite
Hypothecation Deed |
|
Date of
instrument Creating the charge |
25.09.2009 |
|
Amount secured by
the charge |
Rs. 155.000
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of interest 11.75% per annum
on cash credit (hypothecation) and 12.25% per annum on term loan. Terms of repayment Term loan is to
be repaid in 16 equal installments of Rs. 2.813 millions commencing from
January 2010 after moratorium period of 3 months. Cash credit limit
is repayable on demand subject to annual review. Margin Cash Credit
(Hypothecaation) : Stock -25% and Book Debts- 50% Term loan : 50%
of cost of EZI Boxes W/W IMP/IND LC - 25% Letter of
Guarantee - 10%. Extent and operation of the charge The bank shall
have first and exclusive charge over the assets |
|
Short particulars
of the property charged (Including location of the property) |
Cash Credit
Hypothecation of Stocks And Book Debts Up To 90 Days And All Current Assets
of The Company. Term Loan
Hypothecation of Ezi- Boxes Produced And Installed At Various Premises of The
Customers. W/W IMP/IND LC LC
Documents And Hypothecation of Goods Purchased There Under And Book Debts
Arising From Sale There of. Letter of
Guarantee Counter Indemnity And Lien Over Term Deposits. |
FIXED ASSETS
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 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 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.55.09 |
|
|
1 |
Rs.89.54 |
|
Euro |
1 |
Rs.72.77 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Report Prepared
by : |
BSN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
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 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
|
27 |
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.