MIRA
INFORM REPORT
|
Report Date : |
10.07.2012 |
IDENTIFICATION DETAILS
|
Name : |
RAHA POLY PRODUCTS LIMITED. |
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Registered
Office : |
Plot No. 26, Phase III, IDA, Jeedimetla, |
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Country : |
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Financials (as
on) : |
31.03.2011 |
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Date of
Incorporation : |
28.02.1995 |
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Com. Reg. No.: |
01-019565 |
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Capital Investment
/ Paid-up Capital : |
Rs.104.358 Millions |
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|
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CIN No.: [Company Identification
No.] |
U25209AP1995PLC019565 |
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|
|
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TAN No.: [Tax Deduction &
Collection Account No.] |
HYDR00736B HYDR01213C |
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PAN No.: [Permanent Account No.] |
AABCR0765P |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Manufacturer of Sofa Sets and Mattresses |
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No. of Employees : |
150 (Approximately) (In Office +
In Factory) |
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 |
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Maximum Credit Limit : |
USD 35004 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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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 to be
fair. Business is active. Payments are reported to be slow but correct 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.
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 |
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Moderate |
B1 |
|
High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
INFORMATION PARTED BY
|
Name : |
Mr. Chacko |
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Designation : |
Marketing Department |
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Contact No.: |
91-9346619753 |
|
Date : |
06.07.2012 |
LOCATIONS
|
Registered Office / Factory : |
Plot No. 26, Phase III, IDA, Jeedimetla, |
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Tel. No.: |
91-40-23090293 / 23190086 / 23190084 |
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Mobile No.: |
91-9392473394 (Mr. Anil) 91-9346619753 (Mr. Chacko) |
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Fax No.: |
91-40-23195725 |
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E-Mail : |
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Website : |
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Location : |
Owned |
DIRECTORS
As on 17.09.2011
|
Name : |
Mr. Syed Anwar Ahsan |
|
Designation : |
Director |
|
Address : |
Apt 603, Alpine Towers, Hyderabad – 500055, Andhra Pradesh, India |
|
Date of Appointment : |
16.08.1995 |
|
DIN : |
02541272 |
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Name : |
Mr. Syed Azhar Ahsan |
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Designation : |
Director |
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Address : |
Flat No, 23, Block “B”, Megha Paradise Inshaq Colony,
Secundarabad, Andhra Pradesh- 500003, |
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Date of Birth/Age : |
02.07.1937 |
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Date of Appointment : |
28.02.1995 |
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DIN : |
02601505 |
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Name : |
Mr. Said Mohmad Al Hinaji |
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Designation : |
Director |
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Address : |
P. O. Box No. 897, Code No.112, Ruwi -112, |
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Date of Birth/Age : |
22.02.1943 |
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Date of Appointment : |
25.11.1995 |
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DIN : |
02739553 |
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Name : |
Mr. Narayana Swamy Natrajan |
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Designation : |
Additional Director |
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Address : |
B-5, Aishwarya, 21, Srinivasa Avenue Road, R.A. Puram, Chennnai –
600028, Tamilnadu, India |
|
Date of Appointment : |
19.05.2008 |
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DIN : |
02527617 |
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|
|
|
Name : |
Mr. Balan Somasundaram |
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Designation : |
Additional Director |
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Address : |
CE 146 Street I, Salt Lake City, BIdhan Nagar, Kolkata – 700020,West
Bengal, India |
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Date of Appointment : |
19.05.2008 |
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DIN : |
02527688 |
KEY EXECUTIVES
|
Name : |
Mr. Chacko |
|
Designation : |
Marketing Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 17.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
|
|
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Industrial Projects and Development Service
LLC, Sultanate of Omen |
|
500000 |
|
S. Azhar Ahsan |
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45000 |
|
Shaik Imam |
|
100 |
|
Nooshie Ahsan |
|
100 |
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D. Sivayya |
|
100 |
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E. Ravi Keshav |
|
100 |
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A. Mohan Shyam |
|
100 |
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Shafaque Ahsan |
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100 |
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R. Narayanan |
|
100 |
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S. Anwar Ahsan |
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465000 |
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Poly Products LLC, Sultanate of
Omen |
|
6349627 |
|
Neptune Foam, India |
|
2500 |
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C. K. Raman |
|
89100 |
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Anil Gopinath |
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25000 |
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Balan Somasundram |
|
10000 |
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Narayan Swamy Natarajan |
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10000 |
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Total |
|
7496927 |
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Names of Shareholders |
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No. of
Preference Shares |
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|
|
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Industrial Projects and Development Service
LLC, Sultanate of Omen |
|
2938848 |
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Total |
|
2938848 |
As on 17.09.2011
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s),
Non-resident Indian(s) or Overseas Corporate bodies or Others |
97.57 |
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Directors or relatives of Directors |
0.87 |
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Other top fifty shareholders |
1.56 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of Sofa Sets and Mattresses |
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Products : |
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Terms : |
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Selling : |
Cash and Credit |
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Purchasing : |
Cash and Credit |
PRODUCTION STATUS As on 31.03.2011
Licensed Capacity: De-Licenced
|
Particulars |
Unit |
Installed Capacity |
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Spring Mattresses |
Nos. |
60000 |
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Diwan Bases |
Nos. |
15000 |
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Head Boards |
Nos. |
15000 |
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Sofa Sets |
Nos. |
6000 |
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Particulars |
Unit |
Actual Production |
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Mattresses |
Nos. |
13486 |
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Bases |
Nos. |
968 |
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Head Boards |
Nos. |
262 |
GENERAL INFORMATION
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Customers : |
Wholesalers and End users |
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No. of Employees : |
150 (Approximately) (In Office +
In Factory) |
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Bankers : |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Raju and Prasad Chartered Accountant |
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Address : |
401, Diamond House, ADJ Amrutha Hills, Punjagutta, |
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Tel. No.: |
91-40-23410404 |
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Fax No.: |
91-40-23410403 |
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E-Mail : |
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PAN No.: |
AACFT2404H |
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Related Party : |
Poly Products LLC |
CAPITAL STRUCTURE
As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
8000000 |
Equity Shares |
Rs.10/- each |
Rs.80.000 Millions |
|
3000000 |
Preference Shares |
Rs.10/- each |
Rs.30.000 Millions |
|
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Total |
|
Rs.110.000 Millions
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
7496927 |
Equity Shares |
Rs.10/- each |
Rs.74.969 Millions |
|
2938848 |
Preference Shares |
Rs.10/- each |
Rs.29.388 Millions |
|
|
Total |
|
Rs.104.357
Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
Particulars |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
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1] Share Capital |
104.358 |
104.358 |
89.358 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
2.000 |
2.000 |
2.000 |
|
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4] (Accumulated Losses) |
(97.607) |
(98.783) |
(102.643) |
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NETWORTH |
8.751 |
7.575 |
(11.285) |
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LOAN FUNDS |
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1] Secured Loans |
23.574 |
12.191 |
19.116 |
|
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2] Unsecured Loans |
17.384 |
17.384 |
17.384 |
|
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TOTAL BORROWING |
40.958 |
29.575 |
36.500 |
|
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DEFERRED TAX LIABILITIES |
3.784 |
4.052 |
4.236 |
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|
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|
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TOTAL |
53.493 |
41.202 |
29.451 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
23.533 |
24.326 |
25.005 |
|
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Capital work-in-progress |
4.813 |
0.000 |
0.000 |
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|
|
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INVESTMENT |
0.000 |
0.000 |
0.000 |
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DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
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|
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
21.049
|
14.119
|
7.934
|
|
|
Sundry Debtors |
22.835
|
19.273
|
9.915
|
|
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Cash & Bank Balances |
2.387
|
0.758
|
0.190
|
|
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Other Current Assets |
0.000 |
0.000 |
0.000 |
|
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Loans & Advances |
4.722
|
4.359
|
1.918
|
|
Total
Current Assets |
50.993
|
38.509 |
19.957
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
14.284
|
11.445
|
7.068
|
|
|
Other Current Liabilities |
11.562
|
10.188
|
8.443
|
|
|
Provisions |
0.000 |
0.000 |
0.000 |
|
Total
Current Liabilities |
25.846
|
21.633 |
15.511
|
|
|
Net Current Assets |
25.147
|
16.876 |
4.446
|
|
|
|
|
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|
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|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
53.493 |
41.202 |
29.451 |
|
PROFIT & LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
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SALES |
|
|
|
|
|
|
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Income |
93.865 |
72.276 |
57.899 |
|
|
|
Other Income |
0.148 |
1.027 |
1.192 |
|
|
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TOTAL (A) |
94.013 |
73.303 |
59.091 |
|
|
|
|
|
|
|
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Less |
EXPENSES |
|
|
|
|
|
|
|
Consumption Materials Changes Inventories |
33.369 |
26.638 |
|
|
|
|
Manufacturing Service Costs |
11.144 |
7.274 |
|
|
|
|
Employee Related Expenses |
10.614 |
10.368 |
|
|
|
|
Administrative Selling Other Expenses |
33.577 |
21.120 |
|
|
|
|
Prior Period Items |
0.050 |
(0.066) |
|
|
|
|
TOTAL (B) |
88.754 |
65.334 |
61.105 |
|
|
|
|
|
|
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|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
5.259 |
7.969 |
(2.014) |
|
|
|
|
|
|
|
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|
Less |
FINANCIAL
EXPENSES (D) |
2.092 |
2.126 |
2.806 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
3.167 |
5.843 |
(4.820) |
|
|
|
|
|
|
|
|
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Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
2.259 |
2.168 |
1.930 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
0.908 |
3.675 |
(6.750) |
|
|
|
|
|
|
|
|
|
Less |
TAX (I) |
(0.269) |
0.185 |
4.392 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-I) (J) |
1.177 |
3.490 |
(11.142) |
|
|
|
|
|
|
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|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
(99.153) |
(102.643) |
(91.501) |
|
|
|
|
|
|
|
|
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|
BALANCE CARRIED
TO THE B/S |
(97.976) |
(99.153) |
(102.643) |
|
|
|
|
|
|
|
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|
|
EARNINGS IN
FOREIGN CURRENCY |
0.000 |
0.184 |
0.000 |
|
|
|
|
|
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|
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|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
3.893 |
4.441 |
2.203 |
|
|
|
Components & Spares |
0.385 |
0.221 |
0.900 |
|
|
|
Plant and Machinery |
4.138 |
0.778 |
1.376 |
|
|
TOTAL IMPORTS |
8.416 |
5.440 |
4.479 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
1.33
|
4.76 |
(7.43)
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
0.97
|
5.08 |
(9.94)
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.18
|
6.11 |
(12.80)
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.10
|
0.49 |
(0.51)
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
7.63
|
6.76 |
(4.61)
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.97
|
1.78 |
1.29
|
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) Constitutions of the firm |
Yes |
|
4) Premises details |
No |
|
5) Type of Business |
Yes |
|
6) Line of Business• |
Yes |
|
7) Promoter’s background |
Yes |
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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 |
Yes |
|
20) Export / Import details (if applicable) |
No |
|
21) Market information |
-- |
|
22) Litigations that the firm / promoter |
-- |
|
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 |
NOTE:
Registered office address of the company has been shifted from Mayfair Complex 1-8-303/34s/1 Sardar Patel Road,
Secunderabad-500033, Andhra Pradesh, India to the present address w.e.f.
10.01.2006
OPERATIONS:
For the year ended 31st March 2011, the Company has achieved sales turnover of Rs.93.865 Millions and earned profit of Rs.0.958 Millions after charging interest of Rs.1.792 Millions and depreciation of Rs. 2.259 Millions as against the turnover of Rs 72.275 Millions and net profit of Rs 3.636 Millions after charging interest of Rs 1.964 Millions and depreciation of Rs 2.168 Millions in the preceding year.
During the year ended 31 March 2011, the Company sold 13,207 Spring Mattresses and 968 Bases as against 11,556 Mattresses and 716 Bases during the previous year ended March 2010.
FUTURE OUTLOOK:
The Company has started Branch operations in the states of Kerala, Karnataka, Tamil Nadu and Maharashtra in the current year in addition to the Delhi and Chandigarh branches opened in the last year. The Branch operations have given significant volumes and turnover, due to fast service from the Branch. The performance of the above branches has prompted the Company to take steps to open branches in areas where the Company has not operated so far and increase the business of the Company. The Company has also taken steps to increase the profitability of the Company by achieving efficiency in all the areas. The Directors feel that above steps will surely give the best returns in the coming years.
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate identity number of the company |
U25209AP1995PLC019565 |
|
Name of the company |
RAHA POLY PRODUCTS LIMITED |
|
Address of the registered office or of the principal place of business in India of the company |
Plot No.26 Ida Phase – III, Jeedimetla, Hyderabad – 500055, Andhra
Pradesh, India E-mail : srinivasacs@gmail.com
|
|
This form is for |
Modification of charge |
|
|
10230523 |
|
Type of charge |
|
|
Particular of charge holder |
Bank of Bahrain and Kuwait, 6-3-550, L. B. Bhavan, Akash Ganga,
Hyderabad - 500082, Andhra Pradesh, India E-mail id : hyderabad@bbkindia.com
|
|
Nature of instrument creating charge |
1) Form C2A - Supplemental Agreement of Hypothecation of goods and
assets for increase in the overall limit 2) Memorandum of Deposit of Title Deeds both dated 27th April, 2012 |
|
Date of instrument Creating the charge |
27.04.2012 |
|
Amount secured by the charge |
Rs.21.500 Millions |
|
Brief of the principal terms an conditions and extent and operation of
the charge |
Rate of Interest As per offer letter no.s CR: 2011: 112 dated August 11, 2011 and CR:
2012: 42 dated April 20, 2012 Terms of Repayment As per offer letter no.s CR: 2011: 112 dated August 11, 2011 and CR:
2012: 42 dated April 20, 2012 Margin CC: Stocks : 25%; receivables upto 90 days:25%; receivables >90
days: 50% LC and BG: 10% cash margin in the form of FDR's to be kept under lien
with the Bank Extent and Operation of the charge The Charge operates as a security to the extent of Rs.21.500 Millions
together with all the costs, charges, expenses if any incurred or borne by
the bank both present and future. |
|
Short particulars of the property or asset(s) charged (including
complete address and location of the property) |
Extension of exclusive hypothecation charge on the entire current and
fixed assets of the Borrower both present and future Extension of Equitable Mortgage Charge on the Borrower's Factory Land
and Buildings located at Plot No.26, Phase III, IDA, Jeedimetla, Hyderabad Stand by letter of Credit from Bank Dhofar favouring the Bank for USD
$ 0.714 MM |
|
|
With the sanction of new bank guarantee limits of Rs.1.000 Millions
the total limits have been increased from Rs.20.500 Millions to Rs.21.500
Millions. |
FIXED ASSETS
- Land
- Plant and Machinery
- Factory Equipments
- Electrical Installation
- Vehicles
- Furniture and Fixture
- Office equipments
- Computers
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.56.02 |
|
|
1 |
Rs.86.78 |
|
Euro |
1 |
Rs.68.83 |
INFORMATION DETAILS
|
Information Gathered
by : |
SBA |
|
|
|
|
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 |
YES |
|
--AFFILIATION |
YES/NO |
NO |
|
--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.