|
Report Date : |
25.06.2012 |
IDENTIFICATION DETAILS
|
Name : |
EBACO INDIA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
|
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|
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|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
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|
Date of
Incorporation : |
13.09.1994 |
|
|
|
|
Com. Reg. No.: |
08-016225 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.1.840
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U51504KA1994PTC016225 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
BLRE00396E |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
The company is engaged in the trading of Furniture and Fixtures. |
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|
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|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca (18) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow |
|
|
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|
Litigation : |
Clear |
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|
Comments : |
Subject is an established company having moderate track. There appears
huge accumulated losses recorded by the company. However, trade relations are
reported to be fair. Business is active. Payments are reported to be slow. The company can be considered for business dealings at safe and secure
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 |
LOCATIONS
|
Registered Office : |
18 Convent Road, Rishmond Town, Bangalore – 560025,
Karnataka, India |
|
Tel. No.: |
Not Available |
|
Fax No.: |
Not Available |
|
E-Mail : |
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|
Website : |
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|
|
|
Corporate Office : |
Mansarover Building, Kh. No.366(MIN.), Sultanpur, M. G. Road, New
Delhi – 110030, India |
|
Tel. No.: |
91-11-2680668/9 / 32516668 |
|
|
|
|
Branch Office : |
Kh No. 383, 100 Feet Road, Near Canara Bank, Mehrauli - Gurgaon Road , Ghitorni, New Delhi – 110030, India Located at · Noida · Bangalore ·
Mumbai |
DIRECTORS
As on 30.09.2011
|
Name : |
Mr. Rajiv Kapoor |
|
Designation : |
Director |
|
Address : |
22/18-A, Tilak Nagar, New Delhi, 110018, India |
|
Date of Birth/Age : |
20.01.1979 |
|
Date of Appointment : |
20.04.2006 |
|
DIN No.: |
00152662 |
|
|
|
|
Name : |
Mr. Joseph Dominic Savio Rasquinha |
|
Designation : |
Director |
|
Address : |
# 18, Convent Road,
Richmond Town, Bangalore - 560025, Karnataka, India |
|
Date of Birth/Age : |
02.07.1965 |
|
Date of Appointment : |
13.09.1994 |
|
DIN No.: |
00769779 |
|
|
|
|
Name : |
Mrs. Shobha Benedicta Rasquinha |
|
Designation : |
Director |
|
Address : |
# 302, Amber
Appartments, 3 Berlie Street, Langford Town, Bangalore - 560025, Karnataka,
India |
|
Date of Birth/Age : |
26.07.1969 |
|
Date of Appointment : |
13.09.1994 |
|
DIN No.: |
00779227 |
|
|
|
|
Name : |
Mr. Christopher Joseph Baur |
|
Designation : |
Director |
|
Address : |
61 Meyer Road, # 20-02, Singapore, 437885, Singapore |
|
Date of Birth/Age : |
26.04.1973 |
|
Date of Appointment : |
13.09.1994 |
|
DIN No.: |
02758268 |
|
|
|
|
Name : |
Mrs. Sunita Rasquinha |
|
Designation : |
Director |
|
Address : |
61, Meyer Road, #20-02, The Atria, Singapore, 437885, Singapore |
|
Date of Birth/Age : |
30.07.1951 |
|
Date of Appointment : |
13.09.1994 |
|
DIN No.: |
03108845 |
|
|
|
|
Name : |
Melanie Maria Pavate |
|
Designation : |
Director |
|
Address : |
812 Arcturus
Circle, Foster City, Ca, 94404, United States Of America |
|
Date of Birth/Age : |
01.07.1974 |
|
Date of Appointment : |
13.09.1994 |
|
DIN No.: |
03151041 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
|
|
|
|
Sunita Rasquinha |
|
678 |
|
Christopher Joseph Baur |
|
547 |
|
Melanie Maria Pavate |
|
373 |
|
Joseph Dominic Savio Rasquinha |
|
242 |
|
Total |
|
1840 |
List of Allottees
As on 10.02.2012
|
Names of Allottes |
|
No. of Shares
Allotted |
|
|
|
|
|
Sunita Rasquinha |
|
6863 |
|
Ebaco International Ptel Limitted, Singapore |
|
2405 |
|
Total |
|
9268 |
As on 30.09.2011
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
The company is engaged in the trading of Furniture and Fixtures. |
GENERAL INFORMATION
|
Customers : |
·
Toshiba ·
Domino’s Pizza ·
Coca Cola ·
Fever 104FM ·
Alstom ·
HP ·
Castrol ·
Hindware ·
Yogi ·
Voltas Limited ·
CRIS ·
BBC ·
Tata Consultancy Services ·
Philips ·
HT Media ·
Godrej ·
Ansal API ·
FedEx ·
Kuoni ·
IFCI Limited ·
Jindal Saw Limited ·
Adani ·
CNBC 18 ·
Gammon ·
Havells ·
Deloitte ·
Golfworx ·
Primex ·
Fashion TV |
||||||||||||||||||||||||||||||
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||||||||||||||||||||||||||||||
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No. of Employees : |
Not Available |
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Bankers : |
HDFC Bank |
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||||||||||||||||||||||||||||||
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Facilities : |
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Banking
Relations : |
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|
|
|
|
Auditors : |
|
|
Name : |
Mehra Goel and Company Chartered Accountants |
|
Address : |
2/88, Block - 2, W.H.S., Kirti Nagar, Furniture Market, New Delhi –
110015, India |
|
PAN.: |
AABFM1488M |
CAPITAL STRUCTURE
After 30.09.2011
Authorised Capital : Rs.15.000 Millions
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
11108 |
Equity Shares |
Rs.1000/-
each |
Rs.11.108
Millions |
|
|
|
|
|
As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000 |
Equity Shares |
Rs.1000/- each |
Rs.10.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1840 |
Equity Shares |
Rs.1000/-
each |
Rs.1.840
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 |
1.840 |
1.840 |
1.840 |
|
|
2] Share Application Money |
9.212 |
9.269 |
6.863 |
|
|
3] Reserves & Surplus |
0.000 |
0.000 |
0.000 |
|
|
4] (Accumulated Losses) |
(5.380) |
(7.877) |
(1.757) |
|
|
NETWORTH |
11.052 |
3.232 |
6.946 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.216 |
0.559 |
|
|
2] Unsecured Loans |
2.000 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
2.000 |
0.216 |
0.559 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
7.672 |
3.448 |
7.505 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
5.347 |
6.352 |
7.440 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.587 |
0.127 |
0.053 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
18.615
|
12.009 |
0.000 |
|
|
Sundry Debtors |
21.221
|
18.010 |
13.140 |
|
|
Cash & Bank Balances |
7.294
|
5.322 |
6.928 |
|
|
Other Current Assets |
0.000
|
0.000 |
15.260 |
|
|
Loans & Advances |
8.240
|
6.282 |
0.483 |
|
Total
Current Assets |
55.370
|
41.623 |
35.811 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
40.951
|
29.172 |
25.480 |
|
|
Other Current Liabilities |
11.339
|
15.482 |
8.653 |
|
|
Provisions |
1.342
|
0.000 |
1.666 |
|
Total
Current Liabilities |
53.632
|
44.654 |
35.799 |
|
|
Net Current Assets |
1.738
|
(3.031) |
0.012 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
7.672 |
3.448 |
7.505 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
152.381 |
120.600 |
159.119 |
|
|
|
Other Income |
0.539 |
4.734 |
0.187 |
|
|
|
TOTAL (A) |
152.920 |
125.334 |
159.306 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
(Increase) / Decrease in stock |
(6.606) |
(2.134) |
(5.521) |
|
|
|
Purchase Expenses |
106.294 |
91.097 |
119.623 |
|
|
|
Operating Expenses |
3.241 |
5.182 |
4.304 |
|
|
|
Employee Cost |
24.490 |
16.247 |
14.143 |
|
|
|
Administration and Selling Expenses |
22.133 |
18.865 |
21.550 |
|
|
|
Prior Period Expenses |
0.000 |
0.487 |
0.000 |
|
|
|
TOTAL (B) |
149.552 |
129.744 |
154.099 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION
AND AMORTISATION (A-B) (C) |
3.368 |
(4.410) |
5.207 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
0.036 |
0.194 |
0.101 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND
AMORTISATION (C-D) (E) |
3.332 |
(4.604) |
5.106 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
1.295 |
1.590 |
1.761 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
2.037 |
(6.194) |
3.345 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
(0.046) |
(0.075) |
1.787 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
2.497 |
(6.119) |
1.558 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
(7.877) |
(1.758) |
(3.316) |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
(5.380) |
(7.877) |
(1.758) |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
1357.00 |
(3326.00) |
-- |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
1.63
|
(4.88) |
0.98 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
1.34
|
(5.14) |
2.10 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
3.35
|
(12.91) |
7.73 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.18
|
(1.92) |
0.48 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
5.03
|
13.88 |
5.23 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.03
|
0.93 |
1.00 |
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 |
No |
|
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 |
NOTE:
The registered office address of the company has been shifted from
“No.302, Amber, 3 Berlie Street, Bangalore – 560025, Karnataka, India” to the
present address w.e.f. 02.06.2011
CONTINGENT
LIABILITY:
(Rs.
In Millions)
|
Particulars
|
31.03.2011 |
31.03.2010 |
|
|
|
|
|
Guarantee issued by Banks for letter of
credit |
0.137 |
0.000 |
FIXED ASSETS:
·
Plant and Machinery
·
Furniture and Fixtures
·
Motor car
·
Computers
WEBSITE DETAILS:
HISTORY:
Ebaco was established in 1973 in Germany by Mr. Ernst Baur. Ebaco was
set up to act as marketing agents to give manufacturers in developed countries
access to "exotic" new markets such as the Middle East and Asia that
were just opening up. Initially the company focused on the Middle East, but
over time has also moved into Asia and Africa and recently back into Europe. In
its first twenty years, Ebaco primarily dealt with floorings and related
products but offered furniture and food products as well.
In the 1980s and 90s, Ebaco started to create an organization to take
advantage of growth opportunities in other parts of the world. It expanded into
new product lines and new geographies as well. In the mid 80s, Ebaco expanded
its sales into the Far East to take advantage of the strong economic growth
there. It also established Ebaco America to handle all North American flooring
shipments and Ebaco Far East to find new supply sources in Asia. In the 90s,
Ebaco added offices in India, Uzbekistan, and in China.
Ebaco diversified into new product lines: furnishing fabric business,
residential and office furniture and ceramic tiles, building materials and
sanitary ware.
The start of the new millennium has seen Ebaco continue on this path of
expansion and transformation. The company has opened up several offices in
China, India and Thailand to source for new products and has opened up new
sales offices in new emerging markets: Egypt, India, China, Ethiopia, Kuwait
and South Africa. At the same time, Ebaco is moving up the value curve by
developing its contract business. Contract products are more knowledge
intensive, where deep knowledge of industry and quality standards is required
and service is critical. Both play to Ebaco's strengths. It has set up contract
divisions in India, the Middle East and Egypt.
Today Ebaco has 17 offices based in 13 countries all over the world.
It exports all kinds of furnishing products from the Far East, the US
and Europe to the Middle East, Africa, Asia and Europe. It has 75 employees
located all around the globe.
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.56.99 |
|
|
1 |
Rs.88.97 |
|
Euro |
1 |
Rs.71.57 |
INFORMATION DETAILS
|
Report Prepared
by : |
BSN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
2 |
|
PAID-UP CAPITAL |
1~10 |
2 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
2 |
|
--LEVERAGE |
1~10 |
- |
|
--RESERVES |
1~10 |
2 |
|
--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 |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
18 |
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.