|
Report Date : |
02.06.2012 |
IDENTIFICATION DETAILS
|
Name : |
NOVATECH ENVIRO SYSTEMS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Building No.13, 302, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
28.06.1996 |
|
|
|
|
Com. Reg. No.: |
11-100662 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.0.105
million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74210MH1996PTC100662 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMN07921E |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer and Exporter of various
types of Water Treatment Plants, Effluent and Sewage Treatment Plants,
Swimming Pools and Health Club Equipment. |
|
|
|
|
No. of Employees
: |
10 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (26) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 4000 |
|
|
|
|
Status : |
Small Company |
|
|
|
|
Payment Behaviour : |
Slow |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a small company in its field. Its scale of activities are limited.
Trade relations are reported as fair. Business is active. Payments are
reported to be slow. 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 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INFORMATION PARTED BY (PARTIAL DETAILS)
|
Name : |
Mr. Pankaj Jayantilal Jagad |
|
Designation : |
Director |
|
Contact No.: |
91-9820187775 |
|
Date : |
09.05.2012 |
LOCATIONS
|
Registered Office/ Factory : |
Building No.13, 302, |
|
Tel. No.: |
91-22-28481118/ 32947930/ 28481056 |
|
Mobile No.: |
91-9821109610 (Mr. Pranav Chhatbar-Marketing Department) 91-9820187775 (Mr. Pankaj Jayantilal Jagad-Director) |
|
Fax No.: |
91-22-28481056 |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
DIRECTORS
As on 23.09.2011
|
Name : |
Mr. Sunil Vasant Terwad |
|
Designation : |
Director |
|
Address : |
B-404, Rainbow Apartment, |
|
Date of Birth/Age : |
02.11.1958 |
|
Qualification : |
M. Sc. |
|
Date of Appointment : |
28.06.1996 |
|
DIN No.: |
00151761 |
|
|
|
|
Name : |
Mr. Shivnaresh Ramnaresh Sinha |
|
Designation : |
Director |
|
Address : |
13/302, Shakti Nagar, Dahisar (East), Mumbai – 400 068, |
|
Date of Birth/Age : |
28.02.1958 |
|
Qualification : |
BMS |
|
Date of Appointment : |
28.06.1996 |
|
DIN No.: |
00151506 |
|
|
|
|
Name : |
Mr. Pankaj Jayantilal Jagad |
|
Designation : |
Director |
|
Address : |
14/301, Ayodya CHS, Shakti Nagar, Dahisar (East), Mumbai – 400 068, |
|
Date of Birth/Age : |
01.08.1965 |
|
Qualification : |
Mechanical Engineering |
|
Date of Appointment : |
28.06.1996 |
|
DIN No.: |
00151572 |
KEY EXECUTIVES
|
Name : |
Mr. Pranav Chhatbar |
|
Designation : |
Marketing Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 23.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
Sunil Vasant Terwad |
|
3500 |
|
Shivnaresh Ramnaresh Sinha |
|
3500 |
|
Pankaj Jayantilal Jagad |
|
3500 |
|
Total |
|
10500 |
As on 23.09.2011
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Directors
or relatives of directors |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of various
types of Water Treatment Plants, Effluent and Sewage Treatment Plants,
Swimming Pools and Health Club Equipment. |
|
|
|
|
Products : |
v
Swimming Pool Equipment o
Swimming
Pool Filter in Mild Steel o
Emaux
FRP Swimming Pool Filter o
Emaux
Commercial Swimming Pool Filter o
Pool
Fittings o
Pool
Cleaning Equipment
o
Hand
Rails and Underwater Light v
Sauna Cabin and Popular Layouts of Sauna
Cabin v
Steam Generator v
Water Treatment Plant v
Pressure Sand Filter v
Activated Carbon Filter v
Water Softener v
Demineralizer v
Jacuzzi
v
Ultra Violet Sterilizer v
Drinking Water System v
Packaged Sewage Treatment Plant v
Fountain |
|
|
|
|
Exports : |
|
|
Products : |
v
Water Treatment Plant |
|
Countries : |
v
African Countries v
v
|
|
|
|
|
Imports : |
|
|
Products : |
v
Raw Materials |
|
Countries : |
v
v
|
|
|
|
|
Terms : |
|
|
Selling : |
Cash |
|
|
|
|
Purchasing : |
Cash |
GENERAL INFORMATION
|
Suppliers : |
v
Balaji Fountains v
Laxmi Metal Works v
Pool Aids v
Vijay Engineering and Machinery Company v
Credit Card-Citi Bank v
Credit Card-SBI v
S.D. Sonawane and Associates v
W.R. Talwalkar Brothers Private Limited |
|||||||||
|
|
|
|||||||||
|
Customers : |
Corporate/ Water Resorts v Aristo
Engineers, Thane v Bhakti
Developers v New Homes v N.G. Paradise v Yak Education
Trust v Rashmi Builders,
Mumbai v Tim Tom Food
Products Private Limited, Mumbai v Vegabite Food
Products Private Limited, Mumbai v Servo Flow
Fabricators Private Limited, Mumbai v Yak and Yeti
Hotels Limited, v Rokadia
Chemicals Limited, Ankleshwar v Delux Dyers,
Mumbai v Dukes Retreat,
Khandala v Hotel Prashant,
Mumbai v VijayTubes and
Cones Private Limited, v Sain and
Associates, Mumbai v Mark Engineers
Private Limited, Mumbai v Avon Coatings
Private Limited, Mumbai v Super Kraft
Foundry Private Limited, Jaysingpur v Shreeji
Developers, Thane v Dynamic
Builders, v Silent Resorts
Private Limited, v Siddharth
Resorts, Mumbai v v Valiant
Industries Limited, Mumbai v Earnest John
Drugs and Chemicals Private Limited, Mumbai v Marvel Water
World Private Limited, v Nanak Nutritions
Private Limited, Taloja v Ajmera Group of
Companies, Mumbai v Cotton Club of v Shreeji
Aluminium Private Limited, Mumbai v Control Device
and Associates, Bilimora v Aristo
Engineers, Taloja v Sri
Venkateshwara Textiles, Mumbai v INS Abhimanyu,
Nerul v Mehta’s Farms,
Mumbai v Anand Resorts,
Virar v Bellevue Water
Resorts Limited, v Lakadia Visa
Oswal Seva Samaj, v Hotel Linda Goa,
v Sumaraj Seafoods
Private Limited, Mumbai v BSES Limited,
Mumbai v Nihaal
Enterprises, Mumbai v v B.S.E.S.
Limited, Mumbai v Rustomjee
Builders v Kesar Harmony v Payal
Enterprises v Giriraj
Developers v Sanatan Builders |
|||||||||
|
|
|
|||||||||
|
No. of Employees : |
10 (Approximately) |
|||||||||
|
|
|
|||||||||
|
Bankers : |
Corporation Bank |
|||||||||
|
|
|
|||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
S.D. Sonawane and Associates Chartered Accountants |
|
Address : |
4/418, Vanrai Colony, |
|
Tel. No.: |
91-22-26856115 |
|
Fax No.: |
91-22-26851446 |
|
E-Mail : |
|
|
Income-tax
PAN of auditor or auditor's firm : |
AAIPS0419F |
|
|
|
|
Memberships : |
Indian Association of Amusement Parks and Industries (IAAPI) |
CAPITAL STRUCTURE
As on 23.09.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
50000 |
Equity Shares |
Rs.10/- each |
Rs.0.500 million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
10500 |
Equity Shares |
Rs.10/- each |
Rs.0.105 million
|
|
|
|
|
|
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 |
0.105 |
0.105 |
0.105 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
0.960 |
0.536 |
0.328 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
1.065 |
0.641 |
0.433 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.605 |
0.067 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
0.000 |
0.605 |
0.067 |
|
|
DEFERRED TAX LIABILITIES |
0.047 |
0.054 |
0.063 |
|
|
|
|
|
|
|
|
TOTAL |
1.112 |
1.300 |
0.563 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
0.391 |
0.422 |
0.480 |
|
|
Capital work-in-progress |
0.010 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERRED TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
0.973
|
0.957 |
0.716 |
|
|
Sundry Debtors |
1.408
|
1.673 |
0.915 |
|
|
Cash & Bank Balances |
4.462
|
2.386 |
2.191 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
1.137
|
0.342 |
0.219 |
|
Total
Current Assets |
7.980
|
5.358 |
4.041 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
0.892
|
1.048 |
0.828 |
|
|
Other Current Liabilities |
6.091
|
3.273 |
2.967 |
|
|
Provisions |
0.286
|
0.159 |
0.163 |
|
Total
Current Liabilities |
7.269
|
4.480 |
3.958 |
|
|
Net Current Assets |
0.711
|
0.878 |
0.083 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
1.112 |
1.300 |
0.563 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Sales, Labour, Consultancy, Commission |
12.426 |
10.365 |
7.320 |
|
|
|
Interest Income |
0.171 |
0.141 |
0.093 |
|
|
|
TOTAL (A) |
12.597 |
10.506 |
7.413 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Increase/ Decrease in Stock |
(0.016) |
(0.241) |
(0.353) |
|
|
|
Purchases, Custom Duty, Labour Charges |
6.749 |
6.922 |
4.765 |
|
|
|
Advertisement/ Sale-Business Promotion |
0.517 |
0.280 |
0.145 |
|
|
|
Auditor’s Remuneration |
0.015 |
0.015 |
0.015 |
|
|
|
Bas Debts |
0.039 |
0.223 |
0.025 |
|
|
|
Bank Charges |
0.007 |
0.003 |
0.007 |
|
|
|
Books and Periodicals |
0.006 |
0.002 |
0.006 |
|
|
|
Business Entertainment |
0.044 |
0.036 |
0.033 |
|
|
|
Commission |
0.000 |
0.024 |
0.000 |
|
|
|
Conveyance and Traveling |
0.410 |
0.333 |
0.253 |
|
|
|
Discount |
(0.091) |
(0.111) |
(0.003) |
|
|
|
Electricity Charges |
0.003 |
0.000 |
0.000 |
|
|
|
Foreign Exchange Fluctuation |
(0.012) |
0.000 |
0.000 |
|
|
|
Membership Fees |
0.000 |
0.004 |
0.004 |
|
|
|
Insurance |
0.014 |
0.003 |
0.005 |
|
|
|
Motor Car Expenses |
0.124 |
0.102 |
0.107 |
|
|
|
Office and Godown Rent |
0.226 |
0.110 |
0.050 |
|
|
|
Postage and Courier |
0.021 |
0.014 |
0.016 |
|
|
|
Printing and Stationery |
0.040 |
0.011 |
0.043 |
|
|
|
Professional Fees |
0.039 |
0.019 |
0.004 |
|
|
|
Repairs and Maintenance |
0.067 |
0.060 |
0.037 |
|
|
|
Salaries to Staff |
1.104 |
0.796 |
0.814 |
|
|
|
Salary to Directors |
0.830 |
0.720 |
0.720 |
|
|
|
Sales Tax |
0.005 |
0.001 |
0.006 |
|
|
|
Site Expenses |
1.114 |
0.419 |
0.096 |
|
|
|
Staff Welfare |
0.048 |
0.026 |
0.035 |
|
|
|
Sundry Expenses |
0.045 |
0.019 |
0.023 |
|
|
|
Telephone Expenses |
0.105 |
0.112 |
0.108 |
|
|
|
Transport, Octroi, Clearing and Forwarding |
0.431 |
0.250 |
0.211 |
|
|
|
TOTAL (B) |
11.884 |
10.152 |
7.172 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
0.713 |
0.354 |
0.241 |
|
|
|
|
|
|
|
|
|
Less |
INTEREST (D) |
0.005 |
0.014 |
0.010 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
0.708 |
0.340 |
0.231 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
0.088 |
0.101 |
0.058 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
0.620 |
0.239 |
0.173 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
0.195 |
0.076 |
0.081 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
0.425 |
0.163 |
0.092 |
|
|
|
|
|
|
|
|
|
Less/ (Add) |
Income Tax of
earlier year |
0.002 |
(0.045) |
0.029 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
0.536 |
0.328 |
0.265 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
0.959 |
0.536 |
0.328 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
40.54 |
15.55 |
8.79 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
3.37
|
1.55 |
1.24 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
4.99
|
2.31 |
2.36 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
7.41
|
4.13 |
3.83 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.58
|
0.37 |
0.40 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
6.83
|
7.93 |
9.30 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.10
|
1.20 |
1.02 |
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 |
|
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 |
No |
|
17) Major
suppliers |
Yes |
|
18) Major
customers |
Yes |
|
19) Payments
terms |
Yes |
|
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 |
No |
|
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 |
OPERATIONS:
The company has achieved a considerable performance during the year. Company
has maintained it’s turnover and expects to do better in future.
FIXED ASSETS:
v Computer
v Office Equipments
v Motor Car
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 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.55.92 |
|
|
1 |
Rs.86.03 |
|
Euro |
1 |
Rs.69.13 |
INFORMATION DETAILS
|
Information
Gathered by : |
SBA |
|
|
|
|
Report Prepared
by : |
SMN |
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 |
2 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--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 |
|
26 |
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.