MIRA INFORM REPORT
|
Report Date : |
16.01.2012 |
IDENTIFICATION DETAILS
|
Name : |
BRAHMAND UDYOG LIMITED |
|
|
|
|
Formerly Known
as : |
BRAHMAND UDYOG PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
35, C.R. Avenue, 6th Floor, Kolkata – 700012, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
08.07.1998 |
|
|
|
|
Com. Reg. No.: |
21-087459 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 28.252 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U28113WB1998PLC087459 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
CALB08646B |
|
|
|
|
PAN No.: [Permanent Account No.] |
AACCB2748K |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer, Fabricators and Dealers in all types of Aluminium
Castings and its related products. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (31) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 1100000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but Correct |
|
|
|
|
Litigation : |
Clear |
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|
|
|
Comments : |
Subject is an established company having moderate track. Profitability
of the company appears to be low. However, trade relations are reported as
fair. Business is active. Payments are reported to be slow but correct. The company can be considered for business dealings with some
cautions. |
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 : |
35, C.R. Avenue, 6th Floor, Kolkata – 700012, West |
|
Tel. No.: |
91-33-40181000 / 91-33-22115115 |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
|
|
|
Corporate Office : |
21, Hemanta Basu Sarani Centre Point, 3rd Floor, Room No.
312, Kolkata – 700001, West |
|
Tel. No.: |
91-33-2231-8305/06/07/08 |
|
Fax No.: |
91-33-2231-8303 |
DIRECTORS
AS ON 30.09.2011
|
Name : |
Mr. Akkash Patni |
|
Designation : |
Director |
|
Address : |
227/1A, |
|
Date of Birth/Age : |
29.12.1978 |
|
Date of Appointment : |
01.08.2007 |
|
DIN No.: |
00554349 |
Other Directorship:
|
S.No. |
CIN |
Name
of the Company |
Current
designation of the director |
Date
of appointment at current designation |
Original
date of appointment |
Date
of cessation |
Company
Status |
Defaulting
status |
|
1 |
L27109WB1996PLC080353 |
VIKASH
METAL AND POWER LIMITED |
Director |
6/5/2002 |
6/5/2002 |
- |
Active |
NO |
|
2 |
U28113WB1998PLC087459 |
BRAHMAND
UDYOG LIMITED |
Director |
1/8/2007 |
16/08/2002 |
- |
Active |
NO |
|
3 |
U72200WB2001PLC093976 |
IMPEX
INFOTECH LIMITED |
Director |
12/12/2006 |
10/12/2002 |
- |
Active |
NO |
|
4 |
U27109WB2004PTC099216 |
SANGEETA
ISPAT PRIVATE LIMITED |
Director |
30/09/2011 |
23/07/2004 |
- |
Active |
NO |
|
5 |
U72900WB2004PLC100113 |
PATNI
INFOTECH LIMITED |
Director |
12/10/2004 |
12/10/2004 |
- |
Active |
NO |
|
6 |
U51909WB1995PLC067943 |
UNILEVER
ENTERPRISES LIMITED |
Director |
10/2/2005 |
10/2/2005 |
21/01/2009 |
Active |
NO |
|
7 |
U51909WB1995PTC070721 |
ENARZIER
COMMERCE PRIVATE LIMITED |
Director |
21/02/2005 |
21/02/2005 |
30/04/2007 |
Active |
NO |
|
8 |
U27109WB2004PLC098935 |
VIKASH
SMELTERS AND ALLOYS LIMITED |
Managing
director |
1/4/2008 |
10/3/2005 |
- |
Active |
NO |
|
9 |
U51109WB1995PTC070616 |
CHIRAGSALA
SALES PRIVATE LIMITED |
Director |
19/12/2005 |
19/12/2005 |
26/08/2010 |
Active |
NO |
|
10 |
U10100WB2007PLC115947 |
VIKASH
URJA LIMITED |
Director |
21/05/2007 |
21/05/2007 |
- |
Active |
NO |
|
11 |
U14210WB2008PLC122044 |
VIKASH
ORES LIMITED |
Director |
24/01/2008 |
24/01/2008 |
- |
Active |
NO |
|
12 |
U10100WB2009PLC140050 |
MOIRA
MADHUJORE COAL LIMITED |
Director |
9/12/2009 |
9/12/2009 |
- |
Active |
NO |
|
13 |
U74900WB2011PTC161460 |
VKP
CORPORATION PRIVATE LIMITED |
Director |
4/4/2011 |
4/4/2011 |
- |
Active |
NO |
|
14 |
U51109WB1996PLC078921 |
SAHYOGI
DISTRIBUTORS LIMITED |
Additional
director |
30/11/2011 |
30/11/2011 |
- |
Active |
NO |
|
Name : |
Mrs. Sangeeta Patni |
|
Designation : |
Director |
|
Address : |
227/1A, |
|
Date of Birth/Age : |
17.06.1980 |
|
Date of Appointment : |
22.02.2008 |
|
DIN No.: |
00566332 |
Other Directorship:
|
S.No. |
CIN |
Name
of the Company |
Current
designation of the director |
Date
of appointment at current designation |
Original
date of appointment |
Date
of cessation |
Company
Status |
Defaulting
status |
|
1 |
U72200WB2001PLC093976 |
IMPEX
INFOTECH LIMITED |
Director |
1/12/2004 |
1/12/2004 |
29/01/2007 |
Active |
NO |
|
2 |
U51109WB1995PLC072189 |
SWAMI
VINIMAY LIMITED |
Director |
1/2/2005 |
1/2/2005 |
- |
Active |
NO |
|
3 |
U28113WB1998PLC087459 |
BRAHMAND
UDYOG LIMITED |
Director |
26/09/2008 |
22/02/2008 |
- |
Active |
NO |
|
4 |
U51109WB1996PLC078921 |
SAHYOGI
DISTRIBUTORS LIMITED |
Director |
26/09/2008 |
23/02/2008 |
30/11/2011 |
Active |
NO |
|
5 |
U51909WB1995PLC067943 |
UNILEVER
ENTERPRISES LIMITED |
Director |
29/09/2009 |
21/01/2009 |
- |
Active |
NO |
|
6 |
U51109WB1995PTC069359 |
LUCKYPRIME
DEALER PRIVATE LIMITED |
Director |
30/04/2010 |
30/04/2010 |
- |
Active |
NO |
|
Name : |
Mr. Prem Lata Patni |
|
Designation : |
Director |
|
Address : |
227/1A, |
|
Date of Birth/Age : |
17.09.1955 |
|
Date of Appointment : |
01.08.2007 |
|
DIN No.: |
01131387 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
Rajesh Patni |
|
5100 |
|
Sunita Patni |
|
5100 |
|
Unilever Enterprises Limited, |
|
1041000 |
|
Sahyogi Distributors Limited, |
|
886000 |
|
Swami Vinimay Limited, |
|
888000 |
|
|
|
|
|
Total |
|
2825200 |
AS ON 30.09.2011
|
Equity Shares
Break Up |
Percentage |
|
|
|
|
Bodies corporate |
99.64 |
|
Directors or relatives of Directors |
0.36 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer, Fabricators and Dealers in all types of Aluminium Castings
and its related products. |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
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Bankers : |
Indian Bank, 3A, |
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Facilities : |
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Banking
Relations : |
---- |
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|
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|
Auditors : |
|
|
Name : |
G. Goenka and Associated Chartered Accountant |
|
Address : |
112, Ashutosh Muklherjee Road, Bhowanipore, 2nd Floor,
Kolkata – 700025, West |
|
Tel. No.: |
91-33-24191378 |
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E-Mail : |
|
|
|
|
|
Enterprises Over which Key Managerial Personnel Have Control : |
·
Chiragsala Sales (Private) Limited ·
Impex Infotech Limited ·
Vikash Metal and Power Limited ·
Swami Vinimay Limited ·
Uniliver Enterprises Limited ·
Impex Ferro Tech Limited ·
Vikash Smelters and Alloys Limited ·
Sahyogi Distributors Limited ·
Corbal Suppliers Private Limited ·
Lucky prime Dealers Private Limited ·
Plus Jet Finvest Private Limited |
CAPITAL STRUCTURE
AS ON 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
7500000 |
Equity Shares |
Rs.10/- each |
Rs. 75.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2825200 |
Equity Shares |
Rs.10/- each |
Rs.28.252
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 |
28.252 |
19.652 |
19.552 |
|
|
2] Share Application Money |
63.900 |
82.070 |
62.070 |
|
|
3] Reserves & Surplus |
181.182 |
99.741 |
94.347 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
273.334 |
201.463 |
175.969 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
1313.040 |
694.221 |
212.797 |
|
|
TOTAL BORROWING |
1313.040 |
694.221 |
212.797 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
1586.374 |
895.684 |
388.766 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
2.903 |
3.786 |
4.978 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
164.777 |
130.404 |
102.174 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
0.406
|
0.406 |
0.000 |
|
|
Sundry Debtors |
286.455
|
241.315 |
308.949 |
|
|
Cash & Bank Balances |
76.516
|
3.984 |
29.851 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
1484.453
|
1290.332 |
374.816 |
|
Total
Current Assets |
1847.830
|
1536.037 |
713.616 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
255.618
|
243.521 |
269.608 |
|
|
Other Current Liabilities |
167.347
|
527.272 |
158.610 |
|
|
Provisions |
6.281
|
3.915 |
4.004 |
|
Total
Current Liabilities |
429.246
|
774.708 |
432.222 |
|
|
Net Current Assets |
1418.584
|
761.329 |
281.394 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.110 |
0.165 |
0.220 |
|
|
|
|
|
|
|
|
TOTAL |
1586.374 |
895.684 |
388.766 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
9039.443 |
740.670 |
737.288 |
|
|
|
Other Income |
1.247 |
1.850 |
5.859 |
|
|
|
TOTAL (A) |
9040.690 |
742.520 |
743.147 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Consumption materials changes inventories |
1028.224 |
724.855 |
|
|
|
|
Employee related expenses |
0.751 |
0.707 |
728.016 |
|
|
|
Administrative selling other expenses |
3.565 |
2.298 |
|
|
|
|
TOTAL (B) |
1032.540 |
727.860 |
728.016 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
8.150 |
14.660 |
15.131 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
0.772 |
6.091 |
6.550 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
7.378 |
8.569 |
8.581 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
0.883 |
1.192 |
1.334 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
6.495 |
7.377 |
7.247 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
2.140 |
2.091 |
1.824 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
4.355 |
5.286 |
5.423 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
21.141 |
16.147 |
10.892 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
25.182 |
21.141 |
16.147 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
1.57 |
2.69 |
2.77 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
0.04
|
0.71 |
0.72 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
0.07
|
0.99 |
0.98 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.35
|
0.47 |
1.00 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.02
|
0.03 |
0.04 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
6.30
|
7.29 |
3.66 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
4.30
|
1.98 |
1.65 |
LOCAL AGENCY FURTHER INFORMATION
FORM 8
|
Corporate identity
number of the company |
U28113WB1998PLC087459 |
|
Name of the
company |
BRAHMAND
UDYOG LIMITED |
|
Address of the
registered office or of the principal place of business in |
35, C.R. Avenue, 6th
Floor, Kolkata – 700012, West |
|
This form is for |
Modification of
charge |
|
Type of charge |
Immovable
property Book debts Movable property
(not being pledge) Others |
|
Particular of
charge holder |
Indian Bank, 3A, |
|
Nature of
instrument creating charge |
D48 Agreement for
irrevocable LC D73 Agreement for
hypothecation of goods received under LC D27A Agreement for
extension of hypothecation/pledge of movables D101 Agreement
for hypothecation of movables D57 Agreement of
Guarantee (3 |
|
Date of
instrument Creating the charge |
09/09/2011 |
|
Amount secured by
the charge |
Rs. 90.000
millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of interest As specified in
the sanction ticket Terms of repayment One Year Margin 20% subject to
minimum margin to be kept rs.12.500 millions for the entire limit Extent and operation of the charge First charge (
floating) on all goods lying or hereafter stored at godowns and yards and
premises of the company or lying at any other godown whatsoever.50% of the LC
bills must be deposited within 60days. Other Hypothecation of
book debts and other current assets of the company along with EM of the
bungalow in the name of Unilever enterprises Private Limited consisting of 3
storied bldg., courtyard, well on 10 cottons of land at holding no. 297/188
Apcar garden, Asansol Dist. Burdwan ( holding no. 297/188 wd. No.2 of amc C.S
plot no. 543,R.S. KH. No.14912 in Mouza Asansol. Guarantors – Premlata,
Sangeeta, Akash Patni, Unilever Enterprises Private Limited. Swami, Vinimay
Limited And Sahayogi Distributors Limited. |
|
Short particulars
of the property charged (Including location of the property) |
Bungalow in the
name of Unilever enterprises Private Limited consisting of 3 storied bldg.,
courtyard, Well on 10
cottahs of land at holding no. 297/188 Apcar garden, Asansol Dist. Burdwan Holding no.
297/188 wd. No.2 of MCS-CS plot no. 543,R.S. Kh. No.14912 in Mouza Asansol All those
movables consisting of stocks, book debts and other current assets of the
company. All those goods, produce,
merchandise stored from time to time in premises at Santuri Chowki Adsro at
Raghunathpur Mouza Poradila, Dist-Purulia or wherever stored from time to
time. |
|
Particulars of
the present modification |
The credit limit
to Brahmand Udyog Limited has been enhanced from Rs.60.000 millions to Rs.
90.000 millions by grant of Rs.30.000 millions LC facilities. By this
modification, the charge is extended to the entire credit limit of Rs.90.000
millions. |
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. 51.43 |
|
|
1 |
Rs. 79.10 |
|
Euro |
1 |
Rs. 66.17 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
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 |
4 |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
31 |
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.