|
Report Date : |
16.06.2012 |
IDENTIFICATION DETAILS
|
Name : |
PACK MATES PACKAGING ( |
|
|
|
|
Registered
Office : |
Plot No. A/28/1/21/A&B, Road No. 15, IDA, Nacharam, Rangareddy, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
28.05.2010 |
|
|
|
|
Com. Reg. No.: |
01- 068617 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs. 0.500 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U21029AP2010PTC068617 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
HYDP06772D |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAFCP5106N |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Packaging Materials. |
|
|
|
|
No. of Employees
: |
100 (Approximately) |
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 |
|
Maximum Credit Limit : |
USD 10000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having moderate track. There appears
some accumulated losses recorded by the company. However trade relations are reported
as fair. Business is active. Payments are reported to be slow but correct. The company can be considered for business dealings on a secured 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.
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
|
Name : |
Mr. Tirumalesh |
|
Designation : |
Director |
|
Contact No.: |
91-9866192011 |
|
Date : |
12.06.2012 |
LOCATIONS
|
Registered Office / Factory : |
Plot No. A/28/1/21/A&B, Road No. 15, IDA, Nacharam, Rangareddy, |
|
Tel. No.: |
91-40-31924899 |
|
Mobile No.: |
91-9000500939 (Mr. Ravi) 91-9866192011 (Mr. Tirumalesh) |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
3 acre |
|
Location : |
Rented |
DIRECTORS
As on 30.09.2011
|
Name : |
Mr. Ravi Chandra Reddy Mallepalli |
|
Designation : |
Director |
|
Address : |
H.NO.16-35, Sri
Krishna Nagar, Road No. 4, Dilsukhnagar, |
|
Date of Birth/Age : |
20.06.1970 |
|
Date of Appointment : |
28.05.2010 |
|
DIN No.: |
03057475 |
|
Name : |
Mrs. Lavanya Pantangi |
|
Designation : |
Director |
|
Address : |
Flat No. 102,
Alrich Sai Nagothi Enclave, Street No. 4, Begumpet, Secunderabad, |
|
Date of Birth/Age : |
18.06.1975 |
|
Date of Appointment : |
28.05.2010 |
|
DIN No.: |
03064443 |
|
Name : |
Mr. Krishna Purohit |
|
Designation : |
Director |
|
Address : |
H. No. 16-2-147/6/B, Malakpet, Palton, |
|
Date of Birth/Age : |
23.12.1969 |
|
Date of Appointment : |
28.05.2010 |
|
DIN No.: |
03057481 |
|
Name : |
Mr. Praveen Kumar Narlanka |
|
Designation : |
Director |
|
Address : |
H. No.
4-7-12/26, Annapurna Colony, Behind Ravindra Nagar, Nacharam, |
|
Date of Birth/Age : |
17.05.1969 |
|
Date of Appointment : |
16.06.2010 |
|
DIN No.: |
03075959 |
|
Name : |
Mr. Tirumalesh |
|
Designation : |
Director |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
|
|
12490 |
|
Lavanya Pantangi |
|
12490 |
|
|
|
12490 |
|
Kshiraja Narlanka |
|
12490 |
|
Mettu Madan Mohan Reddy |
|
10 |
|
Inta Subba Reddy |
|
10 |
|
Naveen Damisetty |
|
10 |
|
Kotha Krishna Prasad |
|
10 |
|
Total |
|
50000 |
As on 30.09.2011
|
Equity Share
Breakup |
|
Percentage of
Holding |
|
Category |
|
|
|
Directors or relatives of directors |
|
99.92 |
|
Other top fifty shareholders |
|
0.08 |
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Packaging Materials. |
|
|
|
|
Products : |
Packaging Materials |
|
|
|
|
Terms : |
|
|
Selling : |
Cash and Credit |
|
|
|
|
Purchasing : |
Cash and Credit |
PRODUCTION STATUS (As on 31.03.2011)
|
Particulars |
Unit |
Licensed
Capacity |
Installed
Capacity |
Actual
Production |
|
|
|
|
|
|
|
Poly and Aluminum Pouches |
(Kgs) |
Not Applicable |
5 Tons Per Day |
7631.40 |
|
|
|
|
|
|
GENERAL INFORMATION
|
Suppliers : |
V.J. Poly Films |
|||||||||
|
|
|
|||||||||
|
Customers : |
End Users
|
|||||||||
|
|
|
|||||||||
|
No. of Employees : |
100 (Approximately) |
|||||||||
|
|
|
|||||||||
|
Bankers : |
State Bank of |
|||||||||
|
|
|
|||||||||
|
Facilities : |
Cash Credit Rs. 7.000 Millions (From State Bank of
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Vara Prasad and Associates Chartered Accountants |
|
Address : |
Flat No. B-301, 3-5-873, Mathrusree Apts, Hyderguda, |
|
Tel. No.: |
91-40-23234205 |
|
E-Mail : |
|
|
PAN No.: |
AAEFV5001A |
CAPITAL STRUCTURE
(AS ON 31.03.2011)
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
50000 |
Equity Shares |
Rs.10/- each |
Rs. 0.500 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
50000 |
Equity Shares |
Rs.10/- each |
Rs. 0.500 Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
|
31.03.2011 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
0.500 |
|
|
2] Share Application Money |
|
|
6.590 |
|
|
3] Reserves & Surplus |
|
|
0.000 |
|
|
4] (Accumulated Losses) |
|
|
(2.253) |
|
|
NETWORTH |
|
|
4.837 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
8.753 |
|
|
2] Unsecured Loans |
|
|
0.000 |
|
|
TOTAL BORROWING |
|
|
8.753 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
13.590 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
12.745 |
|
|
Capital work-in-progress |
|
|
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.000 |
|
|
DEFERREX TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
3.485 |
|
|
Sundry Debtors |
|
|
0.717 |
|
|
Cash & Bank Balances |
|
|
0.244 |
|
|
Other Current Assets |
|
|
0.000 |
|
|
Loans & Advances |
|
|
0.840 |
|
Total
Current Assets |
|
|
5.286 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditor |
|
|
0.288 |
|
|
Other Current Liabilities |
|
|
3.935 |
|
|
Provisions |
|
|
0.288 |
|
Total
Current Liabilities |
|
|
4.511 |
|
|
Net Current Assets |
|
|
0.775 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.070 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
13.590 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
|
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
|
1.850 |
|
|
|
Job Work Income |
|
|
0.194 |
|
|
|
Other Income |
|
|
0.006 |
|
|
|
TOTAL (A) |
|
|
2.050 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Increase in Stock |
|
|
(0.122) |
|
|
|
Raw Material Consumed |
|
|
0.973 |
|
|
|
Salaries & Benefits to Staff |
|
|
1.072 |
|
|
|
Manufacturing Expenses |
|
|
0.572 |
|
|
|
Administrative Expenses |
|
|
0.979 |
|
|
|
Preliminary Exp W/o |
|
|
0.017 |
|
|
|
TOTAL (B) |
|
|
3.491 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
|
|
(1.441) |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
|
|
0.308 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
|
|
(1.749) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
|
|
0.504 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
|
|
(2.253) |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
|
|
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT /
(LOSS) AFTER TAX (G-H) (I) |
|
|
(2.253) |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
|
|
-- |
|
|
|
|
|
|
|
|
|
|
BALANCE / (LOSS)
CARRIED TO THE B/S |
|
|
(2.253) |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
|
|
0.00 |
|
|
Particulars |
|
|
31.03.2012 |
|
Sales Turnover (Approximately) |
|
|
75.000 |
|
|
|
|
|
Expected Sales (2012-2013) : Rs. 150.000 Millions
The above information has been parted by Mr. Tirumalesh.
KEY RATIOS
|
PARTICULARS |
|
|
|
31.03.2011 |
|
PAT / Total Income |
(%) |
|
|
(109.90) |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
|
|
(121.78) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
|
|
(12.50) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
|
|
0.47 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
|
|
2.74 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
|
|
1.17 |
LOCAL AGENCY FURTHER INFORMATION
|
Check list by info
Agents |
Available in Report (Yes/ No) |
|
|
|
|
Year of Establishment |
Yes |
|
Locality of the Firm |
Yes |
|
Constitution of the Firm |
Yes |
|
Premises details |
Yes |
|
Type of Business |
Yes |
|
Line of Business |
Yes |
|
Promoter’s Background |
Yes |
|
No. of Employees |
Yes |
|
Name of Person Contacted |
Yes |
|
Designation of Contact person |
Yes |
|
Turnover of Firm for last two year |
Yes |
|
Profitability for last one year |
Yes |
|
Reasons for variation <> 20% |
-- |
|
Estimation for coming financial year |
Yes |
|
Capital in the business |
Yes |
|
Details of sister concerns |
No |
|
Major Suppliers |
Yes |
|
Major Customers |
Yes |
|
Payments Terms |
Yes |
|
Export/ Imports Details (If applicable) |
No |
|
Market Information |
-- |
|
Litigations that the firm/ Promoters Involved in |
-- |
|
Banking details |
Yes |
|
Banking Facility Details |
Yes |
|
Conduct of the Banking Account |
-- |
|
Buyer visit details |
-- |
|
Financials, if provided |
Yes |
|
Incorporation details is applicable |
Yes |
|
Last Accounts filed at ROC |
Yes |
|
Major Shareholders, if available |
Yes |
PERFORMANCE OF THE
COMPANY:
The turnover reflects
only 4 months initial operations of the company. The directors are confident
that in the coming year, they can achieve its targeted results. The company can
withstand with the present on going competition in the market and the Company
can achieve profits in the coming years. The company is striving hard to post
good turnover in the coming years.
FORM 8
|
Corporate
identity number of the company |
U21029AP2010PTC068617 |
|
Name of the
company |
PACK MATES
PACKAGING ( |
|
Address of the
registered office or of the principal place of business in |
Plot No. A/28/1/21/A&B, Road No. 15, IDA, Nacharam, Rangareddy, |
|
This form is for |
Creation of
charge |
|
Type of charge |
Book Debts Movable Property (not being
pledge) Floating Charge |
|
Particular of
charge holder |
State Bank Of Email: nsganti@gmail.com |
|
Nature of
description of the instrument creating or modifying the charge |
1. Agreement of
Loan cum Hypothecation. 2. Guarantee
Agreement 3. Letter of
Arrangement |
|
Date of
instrument Creating the charge |
02.09.2010 |
|
Amount secured by
the charge |
Rs. 16.700
Millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest CC(Hyp) Working Capital(7.000
Millions)-Interest at the rate of 5% margin above Base Rate. Present rate
12.75% Term Loan (9.700
Millions)-Interest at the rate of 5.50% margin above Base Rate. Present rate
13.25% Terms of
Repayment CC (Hyp.) Working
Capital (7.000 Millions) - Repayable on Demand. Term Loan (9.700
Millions) - Repayable in 24 quarterly installments of Rs. 0.404 Millions each
plus interest as and when debited. Margin TL - 41.56% Raw Materials
Imported - 25% Raw Materials
Indigenous - 25% Semi - Finished
Goods - 25% Finished Goods -
25% Components/Consumables/Spares
- 25% Domestic
Receivables - 50% Export Packing
Credit – NA Extent and
Operation of the charge Total Loan amount
of 16.700 Millions ( TL – 9.700 Millions , WC – 7.000 Millions) . The charge extends
and operates as security for the due repayment of the facilities sanctioned
by the Bank to the Company along with interest, additional interest, penal
interest, damages, if any thereon. |
|
Short particulars
of the property charged |
Hypothecation of
stocks like Raw Materials, Work in Progress and Finished Goods, book debts,
Plant and Machinery as described in Schedule B in Agreement Of Loan cum
Hypothecation Property Address
: Plot No: A-28/1/21/A & B, Road No 15, IDA Nacharam, |
FIXED ASSETS:
AS PER WEBSITE DETAILS
PROFILE
Subject carved every minute detail meticulously to establish the right solution in Flexible packaging needs for today’s ever growing market requirements.
Poised to take a plunge into the future of the packaging world, they are all set by upgrading their facilities with state of the art technology and automation that will position us to be in the lead of competition.
Today, their company is all set to handle multi-faceted packaging activities including printing, lamination, pouch packaging and other areas of flexible packaging.
Today, Pack Mates has the infrastructure, technology and skilled man power to manufacture packaging materials that are used by wide range of industries for their multifarious packaging functions. Primary among them are packaging of food products, confectionery, snacks, cosmetic soaps and shampoos, pharmaceutical products, agro products, pickles, instant food items and the list is unending.
Established in the year, 2010 they are instrumental in using high grade raw material to manufacture, supply and export a vast range of Flexible Packaging Material. There is a widespread demand for these products in food and confectionery and packaging industries. Furthermore, these products are widely recommended by their clients for their smooth trimmed edges, strong holding power, high seal property and longer service life. Apart from this, their professionals make sure to use superior grade raw material while manufacturing these efficient products.
Their sound infrastructure facility comprises requisite
machinery and sophisticated technology, which is essential for designing these
different products. Moreover, their experienced team of quality analysts test
the products on various parameters, in order to provide flawless range of
Packaging products to their clients. They make sure that their range of
packaging material is at par with the industrial standards specifications.
Their logistic team ensures that finished products are delivered to their
clients situated in East Asia, Middle
East, South America and
Under the able guidance of their mentor, “Mr. Ravi Mallepalli”, they have excelled in this domain at a fast pace. His exemplary leadership skills and in-depth knowledge of the business have achieved us tremendous success in the in the industry.
MANAGEMENT TEAM
A highly qualified and dynamic young team of professionals form the core of Pack Mates Packaging.
Mr. N.Praveen Kumar
Graduate in science with additional qualification in Packaging Technology
from Indian Institute of Packaging, Mumbai and Plastic Technology from Indian
Plastic Institute, Mumbai. 18 years of vast experience in Flexible Packaging
Industries and Development of Food, Confectionary, FMCG and Pharmaceutical
Products.
Mr. M Ravichandra Reddy
Graduate in science and master’s degree in computer applications. In his
career spanned for almost one and half decades in IT industry,
Mr. Tirumalesh
A Science graduate, with 15 years of service in Central Government and
real estate has command in Logistics, Legal and dealing with third parties.
Mr.Kishan Purohit
Graduate in Science having 18 years of marketing experience in FMCG
products and Packaging Industry.
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 theyre 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
bettheyen 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. 55.76 |
|
|
1 |
Rs. 86.69 |
|
Euro |
1 |
Rs. 70.44 |
INFORMATION DETAILS
|
Information Gathered
by : |
SVA |
|
|
|
|
Report Prepared
by : |
ACH |
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 |
NO |
|
--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 theyighted scores obtained from each of the major sections of this report.
The assessed factors and their relative theyights (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.