MIRA
INFORM REPORT
|
Report Date : |
05.03.2012 |
IDENTIFICATION DETAILS
|
Name : |
ESTEEM AUTO PRIVATE LIMITED |
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Registered
Office : |
11, Bhaktinagar Station Plot, Opposite |
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Country : |
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Financials (as
on) : |
31.03.2011 |
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Date of
Incorporation : |
09.10.2002 |
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Com. Reg. No.: |
04-041393 |
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Capital Investment
/ Paid-up Capital : |
Rs.9.995
millions |
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CIN No.: [Company Identification
No.] |
U50401GJ2002PTC041393 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
RKTE00060E |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer of Auto Parts. |
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No. of Employees
: |
300 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (29) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
USD 57000 |
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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. Profitability
of the company appears to be low. However, trade relations are fair. Business
is active. Payments are reported to be slow but correct. 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.
INFORMATION PARTED BY (GENERAL DETAILS)
|
Name : |
Mr. Jayesh |
|
Designation : |
Accounts Manager |
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Contact No.: |
91-281-6450275 |
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Date : |
02.03.2012 |
LOCATIONS
|
Registered Office : |
11, Bhaktinagar Station Plot, Opposite |
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Tel. No.: |
91-281-6450275/ 6450276 |
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Fax No.: |
91-281-2464012 |
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E-Mail : |
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Website : |
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Location : |
Owned |
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Factory : |
G-1311, Metoda G.I.D.C., Gate No.3, |
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Tel. No.: |
91-2827-287361/ 287372 |
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Fax No.: |
91-2827-287122 |
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Overseas Office 1 : |
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E-Mail : |
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Overseas Office 2 : |
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DIRECTORS
As on 30.09.2011
|
Name : |
Mr. Ramjibhai Chakubhai Limbasiya |
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Designation : |
Director |
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Address : |
1, |
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Date of Appointment : |
09.10.2002 |
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DIN No.: |
01046113 |
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Name : |
Mr. Bhaveshkumar Ramjibhai Limbasiya |
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Designation : |
Director |
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Address : |
Harsh, 1, |
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Date of Appointment : |
09.10.2002 |
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DIN No.: |
01046114 |
KEY EXECUTIVES
|
Name : |
Mr. Jayesh |
|
Designation : |
Accounts Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
Bhaveshkumar Ramjibhai Limbasiya |
|
264999 |
|
Ramjibhai Chakubhai Limbasiya |
|
205000 |
|
Jatinkumar Ranchhodbhai Limbasiya |
|
35499 |
|
Urmilaben Ramjibhai Limbasiya |
|
500 |
|
Bhartiben Bhaveshbhai Limbasiya |
|
500 |
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Jayaben Ranchhodbhai Limbasiya |
|
500 |
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Harshaben Ramjibhai Limbasiya |
|
500 |
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Grishmaben Ranchhodbhai Limbasiya |
|
500 |
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Ranchhodbhai Chakubhai Limbasiya |
|
400500 |
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Limbasiya Bhaveshbhai Ramjibahai - HUF |
|
50000 |
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Limbasiya Ramjibhai Chakubhai - HUF |
|
1000 |
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Limbasiya Ranchhodbhai Chakubhai - HUF |
|
40000 |
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Nileshbhai Ramjibhai Limbasiya |
|
1 |
|
Diptiben Jatibhai Limbasiya |
|
1 |
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Total |
|
999500 |
As on 30.09.2011
|
Equity Share Breakup |
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Percentage of Holding |
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Category |
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Directors
or relatives of directors |
|
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of Auto Parts. |
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Products : |
v
Cylinder Liners / Wet Liners v
Cylinder Sleeves / Dry Sleeves v
Air / Water Cooled Blocks v
Valve Guides v
C.I. Casting |
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Terms : |
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Selling : |
Cash and Credit |
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Purchasing : |
Cash and Credit |
PRODUCTION STATUS (AS ON 31.03.2010)
|
Particulars |
Unit |
Quantity manufactured/ Purchase during year |
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Liner/ Sleeve |
Nos. |
463571 |
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Piston |
Nos. |
10081 |
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Block |
Nos. |
8789 |
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Valve Sheat Bar |
Nos. |
5610 |
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Proof Machined Cast Liner |
Nos. |
1949 |
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Pully |
Nos. |
0 |
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Nos. |
1008 |
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Pistion with G-Pin and Circlip 102 |
Nos. |
370 |
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Pistion with G-Pin and Circlip 100 |
Nos. |
196 |
GENERAL INFORMATION
|
Suppliers : |
v
Excel Packaging v
Kaeser Compressors India Private Limited v
Orbit Industries v
Sai Services v
Sri S.S. Engineering Works v
V.I.P. Engineers v
A.R. Logistics v
Abhay Engineering v
Aeromar Logistics ( v
Automan Engineers Private Limited (JOB) v
Jalaram Transport Company v
Jay Somnath Hardware and Tools v
Micro Access Private Limited v
Paschim Gujarat Vij Company Limited v
Akshar Lubricants v
Arpita Traders v
Avon Industrial Corporation v
Cel Packaging Private Limited v
Dev Enterprise-Ahmd v
Eco Packaging Solutions v
Madhav Auto Ancillary |
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Customers : |
Wholesalers and Retailers v
Agra Engineering Company v
Agromach Spares Corporation v
Anand Exports v
Benara Bearings and Pistons Limited v
K.V. International v
Nayasono International Engineers v
Nulux Engineers v
Nitin Engineering Company v
KTC Group Corporation v
Kirloskar Oil Engines Limited v
Greaves Cottons Limited v
Gemini International Private Limited |
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No. of Employees : |
300 (Approximately) |
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Bankers : |
v
Small Industries Development Bank of India, 1st
Floor, Nirmal, 7, Ramkrishna Nagar Corner, Opposite Commissioner Bungalow, Off
Yagnik Road, Rajkot – 360 001, Gujarat, India v
Central Bank of India, Jagnath Plot Branch
Rajkot, Dr. Yagnik Road, Jagnath Plot, Opposite Heera Panna Complex, Rajkot –
360 001, Gujarat, India v
Axis Bank v
ICICI Bank Limited |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
S.C. Shingala and Associates Chartered Accountants |
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Address : |
905-906, Dhanrajni, |
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Tel. No.: |
91-281-2466100 |
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Mobile No.: |
91-9978387093 |
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E-Mail : |
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Income-tax
PAN of auditor or auditor's firm : |
ANDPS2603M |
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Sister Concerns
: |
v
Kishan Metal v
Automan Spares v
Kaizen Auto v
Kishan Manu. |
CAPITAL STRUCTURE
As on 30.09.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
1000000 |
Equity Shares |
Rs.10/- each |
Rs.10.000 millions |
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|
|
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|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
999500 |
Equity Shares |
Rs.10/- each |
Rs.9.995
millions |
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FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
9.995 |
9.995 |
9.995 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
4.154 |
2.726 |
1.874 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
14.149 |
12.721 |
11.869 |
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LOAN FUNDS |
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1] Secured Loans |
25.789 |
10.537 |
11.601 |
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2] Unsecured Loans |
29.663 |
37.236 |
24.821 |
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TOTAL BORROWING |
55.452 |
47.773 |
36.422 |
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DEFERRED TAX LIABILITIES |
0.946 |
0.594 |
0.331 |
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TOTAL |
70.547 |
61.088 |
48.622 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
46.462 |
30.271 |
22.614 |
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Capital work-in-progress |
0.621 |
4.264 |
1.012 |
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INVESTMENT |
0.000 |
0.000 |
0.000 |
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DEFERRED TAX ASSETS |
0.000 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
11.826
|
18.906 |
31.925 |
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Sundry Debtors |
39.763
|
27.263 |
17.287 |
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Cash & Bank Balances |
0.195
|
0.618 |
1.327 |
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Other Current Assets |
18.176
|
7.633 |
12.166 |
|
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Loans & Advances |
3.415
|
4.052 |
5.416 |
|
Total
Current Assets |
73.375
|
58.472 |
68.121 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
39.731 |
27.321 |
40.316 |
|
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Other Current Liabilities |
8.560
|
1.713 |
0.885 |
|
|
Provisions |
1.632
|
2.902 |
1.947 |
|
Total
Current Liabilities |
49.923
|
31.936 |
43.148 |
|
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Net Current Assets |
23.452
|
26.536 |
24.973 |
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MISCELLANEOUS EXPENSES |
0.012 |
0.017 |
0.023 |
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TOTAL |
70.547 |
61.088 |
48.622 |
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PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
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SALES |
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|
|
|
|
|
|
Income |
193.863 |
141.455 |
108.859 |
|
|
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Other Income |
(0.883) |
0.138 |
0.550 |
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|
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TOTAL (A) |
192.980 |
141.593 |
109.409 |
|
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|
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Less |
EXPENSES |
|
|
|
|
|
|
|
|
178.851 |
123.044 |
96.945 |
|
|
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Indirect Expenses |
|
7.795 |
4.638 |
|
|
|
Directors Remuneration |
|
0.480 |
0.384 |
|
|
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Auditors Remuneration |
|
0.045 |
0.020 |
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TOTAL (B) |
178.851 |
131.364 |
101.987 |
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Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
14.129 |
10.229 |
7.422 |
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Less |
INTEREST &
FINANCIAL EXPENSES (D) |
6.975 |
5.778 |
3.607 |
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PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
7.154 |
4.451 |
3.815 |
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Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
5.075 |
3.363 |
2.951 |
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PROFIT BEFORE
TAX (E-F) (G) |
2.079 |
1.088 |
0.864 |
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TAX (H) |
0.652 |
0.235 |
0.173 |
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PROFIT AFTER TAX
(G-H) (I) |
1.424 |
0.853 |
0.351 |
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EARNINGS IN
FOREIGN CURRENCY |
2286740.07 5125.28 Pound (￡) 2780.00
Euro |
NA |
310163.45 USD |
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Earnings Per
Share (Rs.) |
1.42 |
0.85 |
0.35 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
0.74
|
0.60 |
0.32 |
|
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|
Net Profit Margin (PBT/Sales) |
(%) |
1.07
|
0.77 |
0.79 |
|
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|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.73
|
1.23 |
0.95 |
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|
Return on Investment (ROI) (PBT/Networth) |
|
0.15
|
0.09 |
0.07 |
|
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Debt Equity Ratio (Total Liability/Networth) |
|
7.45
|
6.27 |
6.70 |
|
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|
Current Ratio (Current Asset/Current Liability) |
|
1.47
|
1.83 |
1.58 |
LOCAL AGENCY FURTHER INFORMATION
Details of Sundry Creditors:
|
Particulars |
31.03.2011 (Rs. in millions) |
31.03.2010 (Rs. in millions) |
31.03.2009
|
|
Creditors for Capital Goods |
0.837 |
0.000 |
40.316 |
|
Creditors for Expenses |
6.760 |
0.000 |
|
|
Creditors for Goods |
32.134 |
0.000 |
|
|
Sundry Creditors |
0.000 |
27.321 |
|
|
|
39.731 |
27.321 |
40.316 |
Details of Sundry Creditors: (Partial Details)
|
Particulars |
31.03.2011 (Rs. in millions) |
31.03.2010 (Rs. in millions) |
31.03.2009 (Rs. in millions) |
|
Creditors for
Capital Goods |
|
|
|
|
Excel Packaging |
0.035 |
0.000 |
|
|
Kaeser Compressors India Private Limited |
0.050 |
0.000 |
|
|
Orbit Industries |
0.048 |
0.000 |
|
|
Sai Services |
0.005 |
0.000 |
|
|
Sri S.S. Engineering Works |
0.619 |
0.000 |
|
|
V.I.P. Engineers |
0.015 |
0.000 |
|
|
|
|
|
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|
Creditors for
Expenses |
|
|
|
|
A.R. Logistics |
0.080 |
0.000 |
|
|
Abhay Engineering |
0.037 |
0.000 |
|
|
Aeromar Logistics ( |
0.014 |
0.000 |
|
|
Automan Engineers Private Limited (JOB) |
1.344 |
0.000 |
|
|
Jalaram Transport Company |
0.009 |
0.000 |
|
|
Jay Somnath Hardware and Tools |
0.017 |
0.000 |
|
|
Micro Access Private Limited |
0.002 |
0.000 |
|
|
Paschim Gujarat Vij Company Limited |
1.702 |
0.000 |
|
|
|
|
|
|
|
Creditors for
Goods |
|
|
|
|
Akshar Lubricants |
0.071 |
0.000 |
|
|
Arpita Traders |
2.209 |
0.000 |
|
|
Avon Industrial Corporation |
0.454 |
0.000 |
|
|
Cel Packaging Private Limited |
0.713 |
0.000 |
|
|
Dev Enterprise-AHMD |
15.311 |
0.000 |
|
|
Eco Packaging Solutions |
0.144 |
0.000 |
|
|
Madhav Auto Ancillary |
0.166 |
0.000 |
|
|
|
|
|
|
|
Sundry Creditors
|
|
|
|
|
A.R. Logistics |
0.000 |
0.080 |
|
|
Abhay Engineering |
0.000 |
0.037 |
|
|
Amrut Technocast Private Limited |
0.000 |
0.529 |
|
|
Astron Industries |
0.000 |
0.005 |
|
|
Avon Industrial Corporation |
0.000 |
0.454 |
|
|
Cel Packaging Private Limited |
0.000 |
0.399 |
|
|
Dev Enterprise |
0.000 |
1.939 |
|
|
Iraki Trading Company |
0.000 |
5.097 |
|
|
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 |
Yes |
|
5) Type of
Business |
Yes |
|
6) Line of
Business |
Yes |
|
7) Promoter’s
background |
-- |
|
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 |
No |
|
12) Profitability
for last three years |
No |
|
13) Reasons for
variation <> 20% |
No |
|
14) Estimation
for coming financial year |
No |
|
15) Capital in
the business |
No |
|
16) Details of
sister concerns |
-- |
|
17) Major
suppliers |
No |
|
18) Major
customers |
No |
|
19) Payments
terms |
Yes |
|
20) Export /
Import details (if applicable) |
-- |
|
21) Market
information |
-- |
|
22) Litigations
that the firm / promoter involved in |
-- |
|
23) Banking
Details |
Yes |
|
24) Banking
facility details |
-- |
|
25) Conduct of
the banking account |
-- |
|
26) Buyer visit
details |
-- |
|
27) Financials,
if provided |
No |
|
28) Incorporation
details, if applicable |
-- |
|
29) Last accounts
filed at ROC |
-- |
|
30) Major
Shareholders, if available |
-- |
Note:
The registered office of the company has been shifted from Plot No.G/1311,
Opposite Kadvani Forging Kishan Gate, Metoda GIDC, Metoda Lodhika District
Bankers Charges
Report as per Registry
|
Corporate
identity number of the company |
U50401GJ2002PTC041393 |
|
Name of the
company |
ESTEEM AUTO PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
11, Bhaktinagar Station Plot, Opposite E-Mail: scshingala@gmail.com |
|
This form is for |
Creation of
charge |
|
Type of charge |
Book Debts Movable Property
(not being pledge) |
|
Particular of
charge holder |
Central Bank of India, Jagnath Plot Branch Rajkot, Dr. Yagnik Road,
Jagnath Plot, Opposite Heera Panna Complex, Rajkot – 360 001, Gujarat, India E-Mail: bmrajk0570@centralbank.co.in |
|
Nature of
description of the instrument creating or modifying the charge |
1. Agreement of
Hypothecation to secure Demand Cash Credit Against Goods dated 07.02.2011 2. Letter of
hypothecation of book debts - loans - dated 07.02.2011 |
|
Date of instrument
Creating the charge |
07.02.2011 |
|
Amount secured by
the charge |
Rs.20.000
millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest: 1. Cash Credit:
Base Rate + 3.5% p.a. (At present 13.75%) 2. EPC (As Sub
Limit) : Base Rate +/- {as determined by bank from time to time} Both above, Sub.
to Change form time to time Terms of
Repayment: ON DEMAND Margin: Cash Credit : 25% EPC (as
Sub-limit) : 10% Extent and Operation
of the charge: 1. First Charge
by way of Hypothecation of All tangible movable property such as products,
stock-in-trade and goods, now or hereafter from time to time during this
security shall be brought in, stored or be in or about the premises,
warehouses or godowns of the company in GIDC Metoda, or anywhere else. 2. First charge
by way of hypothecation of present and future book debts of the company. Others: The total charge
is Rs.20.000 millions, in respect of the Central Bank of |
|
Short particulars
of the property charged |
All tangible
movable property such as products, stock-in-trade and goods present and
future book debts of the company. |
FIXED ASSETS:
Tangible Assets
v
Machinery
v
Factory Buildings
v
Plant and Machinery
v
Land
v
Computers and Printers
v
Electric Fittings
v
Mobile Phone
v
Furniture
v
Vehicle Two Wheeler
v
Office Equipments
v
Cars
v
Transportation Vehicles
v
Other Buildings
Intangible Assets
v
Trademark - Esteem Logo
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.49.35 |
|
|
1 |
Rs.78.68 |
|
Euro |
1 |
Rs.65.63 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
29 |
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.