MIRA
INFORM REPORT
|
Report Date : |
02.06.2012 |
IDENTIFICATION DETAILS
|
Name : |
VINERGY INTERNATIONAL PRIVATE LIMITED
(w.e.f. 06.10.2005) |
|
|
|
|
Formerly Known
As : |
SUMEX ORGANIC PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Urmi Chambers, 3rd Floor, Apsara Complex, D. B. Marg, Grant
Road (East), Mumbai – 400 007, Maharashtra |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
24.01.1991 |
|
|
|
|
Com. Reg. No.: |
11-59979 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.12.969
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24110MH1991PTC059979 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMS15051B |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACS5473J |
|
|
|
|
Legal Form : |
Private Limited
Liability Company |
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|
|
|
Line of Business
: |
Manufacturer of
Chemicals, Fuel and Lubricants, Furnace Oil, Carbon Tetrachloride and Caustic
Soda Lye. |
|
|
|
|
No. of Employees
: |
80 [Approximately] |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (47) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 1900000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
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|
|
|
Litigation : |
Clear |
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|
Comments : |
Subject is a well established company having satisfactory track. The
company has incurred some losses in the current year. However, networth
appears to be satisfactory. Trade relations are reported as fair. Business is
active. Payments are reported to be usually correct and as per commitments. The company can be considered normal 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.
INFORMATION DECLINED BY
|
Name : |
Mr. Sunil |
|
Designation : |
Finance Manager |
|
Contact No.: |
91-22-66537221 |
|
Date : |
01.06.2012 |
LOCATIONS
|
Registered Office : |
Urmi Chambers, 3rd Floor, Apsara Complex, D. B. Marg, Grant
Road [East], Mumbai – 400 007, Maharashtra, India |
|
Tel. No.: |
91-22-66537221/22 |
|
Fax No.: |
91-22-66537225/26 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Head Office: |
Shivsagar Estate,
A Block, 1st Floor, South Wing, Dr. Annie Besant Road, Worli, Mumbai-400018,
Maharashtra, India |
|
Tel. No.: |
91-22-66537221/7222 |
|
Fax No.: |
91-22-66537224/25 |
|
|
|
|
Regional Office : |
Located At: ·
New Delhi ·
Hyderabad ·
Kolkata ·
Navi Mumbai |
DIRECTORS
As on 29.09.2011
|
Name : |
Mrs. Sharda Mahavirprasad Agarwal |
|
Designation : |
Whole-time director |
|
Address : |
181, Tanna
Residency, 'B' Wing, 392, Veer Savarkar Marg, Prabhadevi, Mumbai 400 025, |
|
Date of Birth/Age : |
09.07.1942 |
|
Date of Appointment : |
24.01.1991 |
|
Din No.: |
00242695 |
|
|
|
|
Name : |
Mr. Mukul Mahavirprasad Agarwal |
|
Designation : |
Managing director |
|
Address : |
181, Tanna
Residency, 'B' Wing, 392, Veer Savarkar Marg, Prabhadevi, Mumbai 400 025, |
|
Date of Birth/Age : |
04.01.1966 |
|
Date of Appointment : |
01.02.2008 |
|
Din No.: |
01673950 |
KEY EXECUTIVES
|
Name : |
Mr. Sunil |
|
Designation : |
Finance Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 29.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
Sharda Mahavirprasad Agarwal |
|
610100 |
|
Mukul Mahavirprasad Agarwal |
|
95300 |
|
Suman Mukul Agarwal |
|
610100 |
|
Sureshchandra Purshottamdas Mody |
|
400 |
|
Priyanka Mukul Agarwal |
|
4400 |
|
Komal Mukul Agarwal |
|
6400 |
|
Juhi Mukul Agarwal |
|
6400 |
|
Parsoli Securities Limited, India |
|
70000 |
|
Paryank Ramesh Shah |
|
9375 |
|
Anand Balmukund Desai |
|
6250 |
|
Raksha Anand Desai |
|
3125 |
|
|
|
|
|
Total |
|
1421850 |
As on 29.09.2011
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
1.32 |
|
Bodies
corporate |
|
4.92 |
|
Directors
or relatives of directors |
|
93.76 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Chemicals,
Fuel and Lubricants, Furnace Oil, Carbon Tetrachloride and Caustic Soda Lye. |
||||||||
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Products : |
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GENERAL INFORMATION
|
No. of Employees : |
80 [Approximately] |
||||||||||||||||||||||||||||||
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||||||||||||||||||||||||||||||
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Bankers : |
·
ICICI
Bank Limited, Landmarkrace Cource Circle, Alkapuri, Baroda-390015, Gujarat, India ·
Standard
Chartered Bank, 90, M.G. Road, Fort, Mumbai-400001, Maharashtra, India ·
Yes
Bank Limited, Tiecicion House, 1st Floor, Dr. E. Moses Road, Mahalaxmi, Mumbai-400011, Maharashtra, India ·
Bank
of India ·
ING
Vysya Bank Limited |
||||||||||||||||||||||||||||||
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|
||||||||||||||||||||||||||||||
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Facilities : |
|
|
|
|
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Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Dayal and Lohia Chartered
Accountants |
|
Address : |
Kamanwala
Chambers, 1st Floor, Office Nos.6 and 7, |
|
Pan No.: |
AAAFD1548C |
|
|
|
|
Subsidiaries : |
·
Vinergy Global Tankers Private Limited
[U63090MH2008PTC177593] ·
Vania Limited |
|
|
|
|
Companies Significantly Influenced: |
·
Total Vinergy Bitumen
India Private Limited ·
Winfull Finvest Private
Limited ·
Vinergy Developers
Private Limited ·
Rex Fuel Management
Private Limited ·
Parsoli Securites
Limited ·
Chemical Exchange.Com
(Bombay) Private Limited ·
Veritech
Pharmaceuticals Private Limited ·
Valencia Exim Pte.
Limited ·
Valencia FZE and
Vinergy Djibouti International FZCO |
CAPITAL STRUCTURE
As on 29.09.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
10000000 |
Equity Shares |
Rs.10/- each |
Rs.100.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
1421850 |
Equity Shares |
Rs.10/- each |
Rs.14.219
Millions |
As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
10000000 |
Equity Shares |
Rs.10/- each |
Rs.100.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
1296850 |
Equity Shares |
Rs.10/- each |
Rs.12.969
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 |
12.969 |
12.844 |
12.844 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
465.070 |
491.019 |
425.997 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
478.039 |
503.863 |
438.841 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
856.804 |
838.928 |
682.876 |
|
|
2] Unsecured Loans |
97.046 |
95.878 |
81.485 |
|
|
TOTAL BORROWING |
953.850 |
934.806 |
764.361 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
2.792 |
2.164 |
|
|
|
|
|
|
|
|
TOTAL |
1431.889 |
1441.461 |
1205.366 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
213.420 |
137.546 |
110.628 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
72.459 |
42.610 |
45.641 |
|
|
DEFERREX TAX ASSETS |
16.596 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
517.717
|
339.922 |
397.689 |
|
|
Sundry Debtors |
801.082
|
807.494 |
558.037 |
|
|
Cash & Bank Balances |
67.628
|
113.067 |
214.690 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
543.566
|
622.908 |
417.045 |
|
Total
Current Assets |
1929.993
|
1883.391 |
1587.461 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
686.578
|
554.674 |
509.039 |
|
|
Other Current Liabilities |
114.001
|
67.412 |
29.325 |
|
|
Provisions |
0.000
|
0.000 |
0.000 |
|
Total
Current Liabilities |
800.579
|
622.086 |
538.364 |
|
|
Net Current Assets |
1129.414
|
1261.305 |
1049.097 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
1431.889 |
1441.461 |
1205.366 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
|
|
|
|
|
|
|
TURNOVER
[Inclusive of Other Income]
(A) |
4912.793 |
7530.584 |
7846.423 |
|
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
4881.551 |
7360.399 |
7668.426 |
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL (B) |
4881.551 |
7360.399 |
7668.426 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
31.242 |
170.185 |
177.997 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
85.222 |
60.147 |
63.008 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
(53.980) |
110.038 |
114.989 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/ AMORTISATION (F) |
12.274 |
13.734 |
13.794 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
(66.254) |
96.304 |
101.195 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
(20.431) |
31.282 |
40.041 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
(45.823) |
65.022 |
61.154 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
363.915 |
305.395 |
257.870 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
0.000 |
6.502 |
6.115 |
|
|
|
Interim Dividend |
0.000 |
0.000 |
6.423 |
|
|
|
Dividend Tax |
0.000 |
0.000 |
1.091 |
|
|
BALANCE CARRIED
TO THE B/S |
318.092 |
363.915 |
305.395 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
FOB Value of Exports |
346.112 |
720.114 |
620.179 |
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials for Trial Run |
0.000 |
0.000 |
14.908 |
|
|
|
Trading Goods |
1255.037 |
1944.932 |
1640.641 |
|
|
TOTAL IMPORTS |
1255.037 |
1944.932 |
1655.549 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
(32.23) |
50.63 |
47.61 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
(0.93)
|
0.86 |
0.78 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(3.09)
|
4.77 |
5.96 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.14)
|
0.19 |
0.23 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
3.67
|
3.09 |
2.97 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.41
|
3.03 |
2.95 |
LOCAL AGENCY FURTHER INFORMATION
DETAILS OF SUNDRY CREDITORS:
|
Particulars |
31.03.2011 (Rs. in millions) |
31.03.2010 (Rs. in millions) |
31.03.2009 (Rs. in millions) |
|
Sundry Creditors |
686.578
|
554.674 |
509.039 |
|
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 |
Yes |
|
30) Major Shareholders, if available |
Yes |
NOTE:
The registered office of the company has been shifted from Shivsagar Estate, A Block, 1st
Floor, South Wing, Dr. Annie Besant Road, Worli, Mumbai-400018, Maharashtra,
India to the present address w.e.f. 15.01.2011.
HIGHLIGHTS OF 2010-11:
The Company achieved
a turnover of Rs. 4912.793 Millions as compared to the previous year turnover
of Rs. 7530.584 Millions. The Loss after tax stood at Rs. 45.823 Millions. The
losses were mainly due to low volume of business and under recovery of fixed
expenses. The Company is taking necessary action to ensure that the volumes
improve and restore the working to profitable levels.
BANKERS CHARGES
REPORT AS PER REGISTRY
|
This form is for |
Modification of
charge |
|
Charge
identification number of the modified |
10043744 |
|
Corporate
identity number of the company |
U24110MH1991PTC059979 |
|
Name of the
company |
VINERGY
INTERNATIONAL PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
Shivsagar Estate,
A Block, 1st Floor, South Wing, Dr. Annie Besant Road, Worli,
Mumbai-400018, Maharashtra, India |
|
Type of charge |
Immovable
Property |
|
Particular of
charge holder |
Standard Chartered
Bank, 90, M.G. Road, Fort, Mumbai-400001, Maharashtra, India Email: kaveri.das@sc.com |
|
Nature of
description of the instrument creating or modifying the charge |
No instrument was
executed. The Company created equitable mortgage by way of constructive
deposit of title deeds of its immovable properties vide Memorandum of
Extension of Equitable Mortgage |
|
Date of
instrument Creating the charge |
26.11.2010 |
|
Amount secured by
the charge |
Rs.400.000 Millions
|
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest Interest /
Commission - As agreed by and with the Bank from time to time. Terms of
Repayment As agreed by and
with the Bank from time to time. Margin As agreed by and
with the Bank from time to time. Extent and
Operation of the charge The Banks
(Standard Chartered Bank, Bank of India, ICICI Bank Limited, Yes Bank
Limited, and ING Vysya Bank Limited) are having pari passu charge on the
security given by the Company. |
|
Date of latest
modification prior to the present modification |
01.02.2010 |
|
Particulars of
the present modification |
An additional
charge of Rs.100.000 Millions is now secured with immovable properties (on
pari passu basis with other Banks) |
CONTINGENT LIABILITIES:
|
Particulars |
31.03.2011 (Rs. in millions) |
31.03.2010 (Rs. in millions) |
|
Estimated amount of contracts remaining to be executed on capital
account-not provided for |
0.421
|
15.261 |
|
Outstanding Bank Guarantees |
40.150
|
17.613 |
|
Total |
40.571
|
32.874 |
FIXED
ASSETS:
·
·
·
Leasehold
Improvements
·
Administrative
Buildings
·
Equipment
and Apparels
·
Hydrogen
Gas Cylinders
·
Chlorine
Tonners
·
Computer
and Peripherals
·
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.55.92 |
|
|
1 |
Rs.86.03 |
|
Euro |
1 |
Rs.69.13 |
INFORMATION DETAILS
|
Information
Gathered by : |
PJA |
|
|
|
|
Report Prepared
by : |
TPT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
|
47 |
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.