MIRA
INFORM REPORT
|
Report Date : |
12.06.2012 |
IDENTIFICATION DETAILS
|
Name : |
SUNVIK STEELS PRIVATE LIMITED |
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Registered
Office : |
G/1/11, First Floor, |
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Country : |
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Financials (as
on) : |
31.03.2011 |
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Date of
Incorporation : |
11.09.2003 |
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Com. Reg. No.: |
08-032546 |
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Capital Investment
/ Paid-up Capital : |
Rs.190.000 Millions |
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CIN No.: [Company Identification
No.] |
U27310KA2003PTC032546 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
BLRS14283D |
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PAN No.: [Permanent Account No.] |
AAHCS6286N |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer of Sponge Iron, MS Ingots, TMT Bars. |
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No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (26) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
USD 1000000 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate track. The company
has been successful in wiping off its accumulated losses during the year. However,
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
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) |
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|
A1 |
A1 |
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Risk Category |
ECGC Classification |
|
Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
LOCATIONS
|
Registered Office : |
G/1/11, First Floor, Platinum City, Yeshwantpur, Bangalore – 560022,
Karnataka, India |
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Tel. No.: |
91-80-41178477 |
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Fax No.: |
91-80-41172869 |
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E-Mail : |
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Website : |
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Office : |
C1304, 13th Floor, Platinum City, Yeshwantpur, Bangalore –
560022, Karnataka, India |
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Tel. No.: |
91-80-41178477/41172663 |
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Fax No.: |
91-80-41172869 |
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Factory : |
Survey No. 60, Jodidevarahali, Kallambella Hobli, Sira Taluk, Tumkur
District – 572125, Karnataka, India |
DIRECTORS
As on 30.09.2011
|
Name : |
Mr. Vivek Kejriwal |
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Designation : |
Managing Director |
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Address : |
G-13/04, Platinum City, Yeshwantpur, Bangalore – 560022, Karnataka,
India |
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Date of Birth/Age : |
19.01.1971 |
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Date of Appointment : |
11.09.2003 |
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DIN No.: |
00798892 |
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Other Directorship:
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Name : |
Mr. Mehendra Kumar Kachhara |
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Designation : |
Director |
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Address : |
# 9-D, Abhilasha, August Kranti Marg, Mumbai – 400036, Maharashtra,
India |
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Date of Birth/Age : |
11.02.1962 |
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Date of Appointment : |
11.09.2003 |
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DIN No.: |
02283218 |
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Other
Directorship:
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Name : |
Mr. Sandeep Manoharlal Shishodia |
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Designation : |
Director |
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Address : |
Sun Metal Castings, LLC, PO Box 3787, Ajman, UAE |
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Date of Birth/Age : |
26.10.1973 |
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Date of Appointment : |
11.09.2003 |
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DIN No.: |
02908284 |
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MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2011
|
Names of Shareholders (Equity Shares) |
|
No. of Shares |
|
Vivek Kumar Kejriwal, |
|
3360316 |
|
Mahendra Kumar Kachhara |
|
169600 |
|
Sandeep M Shishodia |
|
3289664 |
|
Anju Kejriwal |
|
50000 |
|
Ashok K Kothari |
|
100 |
|
Rajendra Jain |
|
100 |
|
Sajjan Devi Kachhara |
|
100 |
|
Manoj Kumar Jain |
|
10 |
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Madan Lal |
|
10 |
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Kamala B Barodia |
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132000 |
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Anjana Devi Ranka |
|
528000 |
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Premdevi Surender Kachhara |
|
2470100 |
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|
|
|
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Total |
|
10000000 |
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Names of Shareholders (Preference Shares) |
|
No. of Shares |
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Usha Vasant Shah and Others |
|
15000 |
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Ashok Vasanji Dedhia and Others |
|
18500 |
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Kamlesh Meghji Gada and Others |
|
13500 |
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Vishanji Meghji Rajgor and Others |
|
25000 |
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Savajsingh Jethuba Gohil and Others |
|
24000 |
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Kishor Virji Gala, and Others |
|
19000 |
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Madhavji S Katira HUF and Others |
|
13500 |
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Pragna Pankaj Gala, and others |
|
15000 |
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Vasanji Premji Gala, and Others |
|
14000 |
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Amit Vasnji Savla and Others |
|
18500 |
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Hansbai Maganlal Nagda and others |
|
18000 |
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Jatin Shailesh Joshi and Others |
|
20500 |
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Dhanvanti Pravinchandra Vora and Others |
|
16500 |
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Jayabai Laxmichand Shah and others |
|
16500 |
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Premji Murji Galia and Others |
|
18500 |
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Bhikhubhai R Barach HUFand Others |
|
23000 |
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Manoj Nagindas Sagar and Others |
|
21500 |
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Rajesh Vithal Parulekar and Others |
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19000 |
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Baban P More HUF and Others |
|
21000 |
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Damayanti Dayaram Hemani and Others |
|
18000 |
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Jubeda Hameed Bhatti and Others |
|
15000 |
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Ramila Dinesh Dand and Others |
|
18000 |
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Sindhubai Prabhakar Bhalerao and Others |
|
15000 |
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Vasant K Malde HUF and Others |
|
18500 |
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Global Parasol Re-Insurance Brokers Private Limited, India
|
|
300000 |
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Vivek Kumar Kejriwal |
|
165000 |
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|
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Total |
|
900000 |
As on 31.03.2012
|
Names of Allottees |
|
No. of Shares |
|
Vivek Kumar Kejriwal, |
|
984727 |
|
Sandeep M Shishodia |
|
1015273 |
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Prema Devi Surendra Kachhara |
|
200000 |
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Anjana devi Ranka |
|
200000 |
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Sajjandevi Kachhara |
|
600000 |
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Total |
|
3000000 |
Equity Share Break up (Percentage of Total Equity)
As on 30.09.2011
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Sponge Iron, MS Ingots, TMT Bars. |
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Products : |
ITC Code |
Product Description |
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72031000 |
Sponge Iron |
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|
72071920 |
MS Billets |
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|
72083790 |
Hot Rolling Products |
PRODUCTION STATUS (As on 31.03.2011)
|
Particulars |
Unit |
Installed
Capacity |
Actual
Production |
|
Sponge Iron |
MT |
90,000 |
85,060* |
|
MS Ingot |
MT |
60,000 |
48409.48** |
|
TMT Bars Ect |
MT |
60,000 |
35911.250 |
|
Power Plant |
Unit |
10 MW |
70,924,108*** |
Note:
*Captive consumption for manufacture of MS Ingots 22,289.200 MT (9,903)
**Captive Consumption for manufacture of TMT Bars 38,531.570 MT (21,825)
*** Captive Consumption 60,430,978
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
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Bankers : |
·
State Bank of India, Industrial Finance Branch,
World Trade Centre, Cuffe Parade, Mumbai – 400005, Maharashtra, India ·
Axis Bank Limited, SME Centre, # 41, Sheshadri
Road, Anand Rao Circle, Bangalore – 560009, Karnataka, India |
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Facilities : |
(Rs. in Millions)
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
P K Rungta Chartered Accountant |
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Address : |
D-1, Jyoti Complex, #134/1, Infantry Road, Bangalore – 560001,
Karnataka, India |
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PAN.: |
AAJPR5048Q |
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Related Party : |
·
Sri Sai Enterprises ·
Sun Metal Casting LLC ·
Sun Steels |
CAPITAL STRUCTURE
As on 30.09.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
16000000 |
Equity Shares |
Rs.10/- each |
Rs.160.000 Millions |
|
900000 |
Preference Shares |
Rs.100/- each |
Rs.90.000 Millions |
|
|
|
|
|
|
|
Total |
|
Rs.250.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
22000000 |
Equity Shares |
Rs.10/- each |
Rs.220.000
Millions |
|
|
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|
As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
16000000 |
Equity Shares |
Rs.10/- each |
Rs.160.000 Millions |
|
900000 |
Preference Shares |
Rs.100/- each |
Rs.90.000 Millions |
|
|
|
|
|
|
|
Total |
|
Rs.250.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000000 |
Equity Shares |
Rs.10/- each |
Rs.100.000
Millions |
|
900000 |
Preference Shares |
Rs.100/-
each |
Rs.90.000
Millions |
|
|
|
|
|
|
|
Total |
|
Rs.190.000 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 |
190.000 |
190.000 |
190.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
71.588 |
85.299 |
112.814 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
261.588 |
275.299 |
302.814 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
853.599 |
870.858 |
642.888 |
|
|
2] Unsecured Loans |
107.702 |
111.369 |
98.500 |
|
|
TOTAL BORROWING |
961.301 |
982.227 |
741.388 |
|
|
DEFERRED TAX LIABILITIES |
11.286 |
8.975 |
23.491 |
|
|
|
|
|
|
|
|
TOTAL |
1234.175 |
1266.501 |
1067.693 |
|
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APPLICATION OF FUNDS |
|
|
|
|
|
|
|
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|
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FIXED ASSETS [Net Block] |
951.585 |
1107.649 |
396.895 |
|
|
Capital work-in-progress |
0.000 |
12.663 |
339.077 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.010 |
0.010 |
0.010 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
245.904
|
180.649 |
201.315 |
|
|
Sundry Debtors |
175.783
|
93.676 |
74.254 |
|
|
Cash & Bank Balances |
32.007
|
33.343 |
56.888 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
67.095
|
78.705 |
138.447 |
|
Total
Current Assets |
520.789
|
386.373 |
470.904 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
213.142
|
205.248 |
111.457 |
|
|
Other Current Liabilities |
23.369
|
33.807 |
24.688 |
|
|
Provisions |
1.829
|
1.568 |
3.775 |
|
Total
Current Liabilities |
238.340
|
240.623 |
139.920 |
|
|
Net Current Assets |
282.449
|
145.750 |
330.984 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.131 |
0.429 |
0.727 |
|
|
|
|
|
|
|
|
TOTAL |
1234.175 |
1266.501 |
1067.693 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
|
|
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL |
2570.197 |
158.914 |
1797.148 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
2386.707 |
107.856 |
1676.669 |
|
|
|
|
|
|
|
|
|
PROFIT
/(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
183.490 |
51.058 |
120.479 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
194.890 |
92.577 |
72.734 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS) BEFORE TAX |
(11.400) |
(41.519) |
47.745 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
25.111 |
69.034 |
17.135 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS) AFTER TAX |
(13.711) |
(27.515) |
30.610 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
(5.298) |
12.813 |
12.203 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
(10.000) |
(20.000) |
(30.000) |
|
|
BALANCE CARRIED
TO THE B/S |
(1.587) |
(5.298) |
12.813 |
|
|
|
|
|
|
|
|
|
|
Earnings/(Loss)
Per Share (Rs.) |
(0.72) |
0.00 |
0.00 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
(0.53)
|
(17.31) |
1.70 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(2.19)
|
(10.75) |
10.14 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
4.36
|
15.08 |
15.77 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.91
|
0.87 |
0.46 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.19
|
1.61 |
3.37 |
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 |
No |
|
9) Name of person contacted |
No |
|
10) Designation of contact person |
No |
|
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 |
-- |
|
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 |
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate identity number of the company |
U27310KA2003PTC032546 |
|
Name of the company |
SUNVIK STEELS
PRIVATE LIMITED |
|
Address of the registered office or of the
principal place of business in |
G/1/11, First
Floor, Platinum City, Yeshwantpur, Bangalore – 560022, Karnataka, India Email: sunvikssteels@touchte.in |
|
This form is for |
Creation of charge |
|
Type of charge |
Movable property
(not being pledge) |
|
Particular of charge holder |
Axis Bank
Limited, SME Centre, # 41, Sheshadri Road, Anand Rao Circle, Bangalore –
560009, Karnataka, India Email: v.hari@axisbank.com |
|
Nature of instrument creating charge |
Loan Cum
Hypothecation Agreement dated 16.01.2010 for Rs.0.500 Million |
|
Date of instrument Creating the charge |
16.01.2010 |
|
Amount secured by the charge |
Rs.0.500 Million |
|
Brief of the principal terms an conditions
and extent and operation of the charge |
Rate of Interest 11% p. a. Fixed, at monthly rests. Penal Interest of 2% p. a. over and
above the fixed rate on overdue portion. Terms of Repayment Repayable in 48 Equated monthly installments of Rs.0.0129 Million
starting from 20/02/2010. Margin 10% Extent and Operation of the charge To the full extent of Rs.0.500 Million or balance outstanding with
interest / overdue interest thereon, whichever is higher |
|
Short particulars of the property or
asset(s) charged (including complete address and location of the property) |
Hypothecation of
Force - Trax Toofan 2010 Model, bearing Engine No: D27035494 and Chassis No:
MC1D4DMA4AP003343, valued at Rs.550000/- and stationed at Sy. No.33,
Jodidevarahalli Village, Sira Tq, Tumku |
Fixed Assets
·
Land and Land Development
·
Factory Building
·
Plant and Machinery
·
Rolls
·
Electrical Installation
·
Borewell
·
Furniture and Fixtures
·
Office Equipments
·
Computers
·
Vehicle
·
Weight Bridge
·
Generator
·
Power Plant
AS PER WEBSITE DETAILS
PROFILE
About Sunvik
At Sunvik, quality is a self-imposed discipline; a challenge it has pursued with a pioneer’s zeal. Exploring new ideas and attempting breakthrough products and processes.
Perfection does not begin at the manufacturing plant. It begins in the mind. It is a challenge that Sunvik has overcome through diligence and discipline and by encouraging its employees to develop a sense of pride in their jobs. At Sunvik, quality is a self-imposed discipline; a challenge it has pursued with a pioneer’s zeal. Exploring new ideas and attempting breakthrough products and processes. Perfection does not begin at the manufacturing plant. It begins in the mind. It is a challenge that Sunvik has overcome through diligence and discipline and by encouraging its employees to develop a sense of pride in their jobs.
Core Values
· Customer focus
· Integrity & Transparency.
· Develop Community of Employees, Customers and Vendors.
· Environment protection. Company is investing around Rs.600.000 Millions to set up a Wasted Heat Recovery Captive Power Plant which will reduce the Green House Gas Emission.
·
Contribute to society by providing employment
opportunities.
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.55.36 |
|
|
1 |
Rs.85.63 |
|
Euro |
1 |
Rs.69.21 |
INFORMATION DETAILS
|
Report Prepared
by : |
KVT |
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 |
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 |
|
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.