|
Report Date : |
03.03.2012 |
IDENTIFICATION DETAILS
|
Name : |
SHREE KRISHNA POLYFILMS PRIVATE LIMITED |
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Registered
Office : |
603, Mulund Yashwant Co-Operative Housing Society Limited, 6th
Floor, G.V. Scheme Road No.2, Mulund, Mumbai – 400081, Maharashtra, India |
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Country : |
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Financials (as
on) : |
31.03.2011 |
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Date of
Incorporation : |
13.01.2003 |
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Com. Reg. No.: |
11-138644 |
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Capital Investment/
Paid-up Capital: |
Rs.2.200 Millions |
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|
|
CIN No.: [Company Identification
No.] |
U25200MH2003PTC138644 |
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|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMS34613F MUMS38030G |
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|
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|
PAN No.: [Permanent Account No.] |
AAGCS9110A |
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|
Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer of Polyfilms. |
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|
No. of
Employees: |
Information Denied by the management. |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 50500 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having satisfactory track. Trade
relations are reported as fair. Business is active. Payments are reported to be
usually correct and as per commitments. The company can be considered normal for business dealings at usual
trade terms and conditions. |
NOTES:
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
INFORMATION DENIED BY
|
Name : |
Mr. Rajesh |
|
Designation : |
Director |
|
Contact No: |
91-22-25634259 / 67416699 |
|
Date : |
01.03.2012 |
LOCATIONS
|
Registered Office : |
603, Mulund Yashwant Co-Operative Housing Society Limited, 6th
Floor, G.V. Scheme Road No.2, Mulund, Mumbai – 400081, Maharashtra, India |
|
Tel. No.: |
Not Available |
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Fax No.: |
Not Available |
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E-Mail : |
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Website : |
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Factory 1 : |
Emni Road, Dadra, U.T. Of Dadra An Unit No.13 To 16, Arihant Industry,
Silvassa, Dadra And Nagar, Union Territory, India |
|
Tel. No.: |
91—25634259 / 67416699 |
DIRECTORS
(As on 29.09.2011)
|
Name : |
Mr. Rajesh Madhav Bhat |
|
Designation : |
Director |
|
Address : |
23 Gurubhakti Society, Kholi No. 33, GV Scheme Road No. 2 Mulund East,
Mumbai – 400081, Mharashtra, India |
|
Date of Birth/Age : |
02.04.1961 |
|
Date of Appointment : |
14.06.2007 |
|
DIN No: |
00585427 |
|
|
|
|
Name : |
Mr. Madhav Achyut Bhat |
|
Designation : |
Managing Director |
|
Address : |
4B Yashwant GV Scheme Road No. 2, Mulund, Mumbai – 400081,
Maharashtra, India |
|
Date of Birth/Age : |
16.01.1934 |
|
Date of Appointment : |
13.01.2003 |
|
DIN No: |
00585655 |
|
|
|
|
Name : |
Mrs. Sneha Rajesh Bhat |
|
Designation : |
Director |
|
Address : |
E – 603, Yeshwant CHS Limited, 6th Floor, GV Scheme, Road
No. 2, Mulund, Mumbai – 400081, Maharashtra, India |
|
Date of Birth/Age : |
19.09.1986 |
|
Date of Appointment : |
16.05.2010 |
|
DIN No: |
03106746 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
(AS ON 29.09.2011)
|
Names of Shareholders |
|
No. of Shares |
|
Madhav Achyut Bhat |
|
209496 |
|
Ninad Ramesh Jaywant |
|
10500 |
|
Vikas Eviro Wastle Care Private Limited, India |
|
1 |
|
Brigida James |
|
1 |
|
Madegiri |
|
1 |
|
Suraj Distributers |
|
1 |
|
|
|
|
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Total |
|
220000 |
(AS ON 29.09.2011)
|
Category |
|
Percentage |
|
|
|
|
|
Directors or relatives of directors |
|
100.00 |
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|
|
|
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Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Polyfilms. |
GENERAL INFORMATION
|
Customers : |
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No. of Employees : |
Information Denied by the management |
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Bankers : |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
|
|
Name : |
R.R. Ranade and Company Chartered Accountants |
|
Address : |
Casa Piedade, 1st Floor, Opposite Shivsena, Shakha, Charai,
Thane – 400601, Maharashtra, India |
|
PAN No.: |
ACRPR7904F |
|
Tel No.: |
91-22-25360236 / 25403436 |
|
E-Mail : |
CAPITAL STRUCTURE
(As on 31.03.2011)
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
250,000 |
Equity Share |
Rs.10/- each |
Rs.2.500 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
220,000 |
Equity Share |
Rs.10/- each |
Rs.2.200
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 |
2.200 |
2.200 |
2.200 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
10.443 |
7.660 |
6.562 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
12.643 |
9.860 |
8.762 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
41.968 |
45.224 |
47.997 |
|
|
2] Unsecured Loans |
2.772 |
3.272 |
3.272 |
|
|
TOTAL BORROWING |
44.740 |
48.496 |
51.269 |
|
|
DEFERRED TAX LIABILITIES |
0.276 |
0.202 |
0.264 |
|
|
|
|
|
|
|
|
TOTAL |
57.659 |
58.558 |
60.295 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
19.725 |
21.491 |
23.093 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
3.127 |
4.035 |
4.316 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
18.561
|
16.831 |
14.975 |
|
|
Sundry Debtors |
33.393
|
28.852 |
23.248 |
|
|
Cash & Bank Balances |
0.817
|
1.620 |
1.323 |
|
|
Other Current Assets |
0.892
|
0.680 |
0.393 |
|
|
Loans & Advances |
5.267
|
7.613 |
5.355 |
|
Total
Current Assets |
58.930
|
55.596 |
45.294 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditor |
22.876
|
21.294 |
10.961 |
|
|
Other Current Liabilities |
1.247
|
1.270 |
1.447 |
|
|
Provisions |
0.000
|
0.000 |
0.000 |
|
Total
Current Liabilities |
24.123
|
22.564 |
12.408 |
|
|
Net Current Assets |
34.807
|
33.032 |
32.886 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
57.659 |
58.558 |
60.295 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
262.835 |
228.914 |
220.547 |
|
|
|
Other Income |
0.283 |
0.353 |
0.316 |
|
|
|
TOTAL (A) |
263.118 |
229.267 |
220.863 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Production |
224.220 |
199.855 |
190.366 |
|
|
|
Selling and Distribution Expenses |
9.885 |
6.567 |
7.654 |
|
|
|
Employees Remuneration |
7.368 |
6.279 |
5.420 |
|
|
|
Taxes and Duties |
0.865 |
0.457 |
0.596 |
|
|
|
Establishment Expenses |
5.421 |
3.181 |
3.668 |
|
|
|
TOTAL (B) |
247.759 |
216.339 |
207.704 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
15.359 |
12.928 |
13.159 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
9.451 |
8.923 |
9.227 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
5.908 |
4.005 |
3.932 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
2.692 |
3.001 |
3.001 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX
(G) |
3.216 |
1.004 |
0.931 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
0.433 |
(0.040) |
0.761 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
2.783 |
1.044 |
0.170 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
12.65 |
4.38 |
0.77 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
1.06
|
0.46 |
0.08 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
1.22
|
0.44 |
0.42 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
4.09
|
1.30 |
1.36 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.25
|
0.10 |
0.11 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
5.45
|
7.21 |
7.27 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.44
|
2.46 |
3.65 |
LOCAL AGENCY FURTHER INFORMATION
SUNDRY CREDITORS
DETAILS:
|
Particulars |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
(Rs. In Millions) |
||
|
Sundry Creditors for Purchases |
21.732 |
20.283 |
10.012 |
|
Sundry Creditors for Expenses |
0.612 |
0.648 |
0.454 |
|
Sundry Creditors for Capital Expenses |
0.532 |
0.363 |
0.495 |
|
Total |
22.876 |
21.294 |
10.961 |
SUNDRY CREDITORS
DETAILS: (Partial Details)
|
Particulars |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
(Rs. In Millions) |
||
|
SUNDRY CREDITORS |
|
|
|
|
|
|
|
|
|
For Purchases |
|
|
|
|
Aditya polymers and Chemicals (India)
Private Limited |
9.669 |
15.442 |
3.490 |
|
Aeroshine Inks |
0.012 |
0.000 |
0.000 |
|
Amar Packaging |
0.087 |
0.040 |
0.060 |
|
Gail (India) Limited |
3.791 |
1.303 |
2.152 |
|
Hope pack |
0.038 |
0.074 |
0.054 |
|
Hrishab Polymers |
0.000 |
0.039 |
0.060 |
|
Manoj electricals |
0.000 |
0.017 |
0.000 |
|
Micro Inks Limited |
1.504 |
1.252 |
1.403 |
|
|
|
|
|
|
For Expenses |
|
|
|
|
Aditya polymers and Chemicals (India)
Private Limited |
0.000 |
0.000 |
0.032 |
|
Om Lamipack – Service Charge |
0.139 |
0.000 |
0.000 |
|
Shree Nandwana transport |
0.004 |
0.000 |
0.000 |
|
Siddharth Transport |
0.339 |
0.392 |
0.250 |
|
Suprabha Shipping Logitics |
0.117 |
0.000 |
0.000 |
|
The Professional couriers |
0.003 |
0.004 |
0.004 |
|
Tritek computers |
0.003 |
0.000 |
0.014 |
|
|
|
|
|
|
For Capital Expenses |
|
|
|
|
Masago Macro systems |
0.002 |
0.000 |
0.000 |
|
Kabra Extrusiontechnik Limited |
0.084 |
0.028 |
0.000 |
|
Akshata Art |
0.215 |
0.087 |
0.411 |
|
Laxmi Steel Fab. |
0.000 |
0.000 |
0.026 |
|
Technoplast Industries |
0.191 |
0.212 |
0.028 |
|
Shivam electric and Hardware Store |
0.039 |
0.037 |
0.019 |
Bankers Charges Report
as per Registry
|
This form is for |
Modification of
charge |
|
Charge
identification number of the modified |
10058270 |
|
Corporate
identity number of the company |
U25200MH2003PTC138644 |
|
Name of the
company |
SHREE KRISHNA POLYFILMS
PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
603, Mulund Yashwant Co-Operative Housing Society Limited, 6th
Floor, G.V. Scheme Road No.2, Mulund, Mumbai – 400081, Maharashtra, India |
|
Type of charge |
Immovable
Property |
|
Particular of
charge holder |
The Thane Janata Sahakari Bank Limited, Maruti Ashish, Opposite Apna
Bazar, Mulund (West), Mumbai - 400080 |
|
Nature of
description of the instrument creating or modifying the charge |
Record Of
Mortgage By Deposit Of Title Deeds |
|
Date of
instrument modifying the charge |
10.12.2007 |
|
Amount secured by
the charge |
Rs.13.000
millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
RATE OF INTEREST Rate of interest
is @13.50% p.a. (at monthly rest) i.e. at par with plr. penal interest is @2%
p.a. in case of defaults. TERMS OF REPAYMENT Period - 90 month
repayable in 84 equal monthly installment of Rs.0.240 million each. MARGIN Margin - 17% on
valuation of properties. EXTENT AND OPERATION OF THE CHARGE Charge is created
against additional security of Equitable Mortgage of the Immovable property of
the company by way of deposit of title deeds in favour of the Bank. |
|
Short particulars
of the property charged |
Charge is secured
against additional security of Equitable Mortgage of the Immovable property
of the company by way of deposit of title deeds being the unit nos.13 to 16
in all administration on or about 3960 sq.ft on the gr floor in the bldg
known as "Arihant Industrial Estate" and development rights of gala
nos.17 to 22 and open space from gala no.13,14 to 21 & 22 along with
rights in respect of s.no.259/21/3 more particularly described as property I
in the schedule -I to the mortgage deed. |
|
Particulars of
the present modification |
Charge is
modified against additional security of Equitable Mortgage of the Immovable
property of the company by way of deposit of title deeds being the unit
nos.13 to 16 in all admn on or about 3960 sq.ft on the gr floor in the bldg
known as "Arihant Industrial Estate" and development rights of gala
nos.17 to 22 and open space from gala no.13,14 to 21 & 22 along with
rights in respect of s.no.259/21/3 |
FIXED ASSETS :
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 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
45 |
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.