MIRA
INFORM REPORT
|
Report Date : |
21.03.2012 |
|
|
|
|
Tel. No.: |
91-1746-229419/23921819 |
|
Fax No.: |
91-1746-224919 |
IDENTIFICATION DETAILS
|
Name : |
MASTANA FOODS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
2646, 1st Floor, Gali Raghu Nandan, Naya Bazar,
Delhi-110006 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
03.03.1999 |
|
|
|
|
Com. Reg. No.: |
55-098638 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 173.869 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U15319DL1999PTC098638 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
DELM05674E |
|
|
|
|
PAN No.: [Permanent Account No.] |
AACCM9944N |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Rice |
|
|
|
|
No. of Employees
: |
80 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (35) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 1200000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow But Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having moderate track. Profitability
of the company appears to be low. 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 with slight
caution. |
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) |
|
India |
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. Krishan |
|
Designation : |
Director |
|
Contact No.: |
91-9812092419 |
|
Date : |
06.03.2012 |
LOCATIONS
|
Registered Office : |
2646, 1st Floor, Gali Raghu Nandan, Naya Bazar,
Delhi-110006, India |
|
Tel. No.: |
Not Available |
|
Mobile No.: |
91-9812092419 (Mr. Krishan) |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Location : |
Owned |
|
|
|
|
Factory : |
Kurushetra Road, Kaithal-136027, Haryana, India |
|
Tel. No.: |
91-1746-229419/23921819 |
|
Fax No.: |
91-1746-224919 |
DIRECTORS
AS ON 30.09.2010
|
Name : |
Mr. Krishan Mohan |
|
Designation : |
Director |
|
Address : |
114/5, Sewan Gate, Kaithal, Haryana, India |
|
Date of Birth/Age : |
02.10.1963 |
|
Date of Appointment : |
03.03.1999 |
|
DIN No.: |
01105765 |
Other Directorship:
|
S.No. |
CIN |
Name
of the Company |
Current
designation of the director |
Date
of appointment at current designation |
Original
date of appointment |
Date
of cessation |
Company
Status |
Defaulting
status |
|
1 |
U74899DL1995PTC069102 |
INFINI
AGROTECH PRIVATE LIMITED |
Director |
26-05-95 |
26-05-95 |
- |
Amalgamated |
NO |
|
2 |
U15319DL1999PTC098638 |
MASTANA
FOODS PRIVATE LIMITED |
Director |
03-03-99 |
03-03-99 |
- |
Active |
NO |
|
3 |
U15314HR2005PTC035907 |
AKM
FOODS PRIVATE LIMITED |
Director |
28-10-05 |
28-10-05 |
01-04-07 |
Active |
NO |
|
4 |
U15316HR2007PTC036588 |
INFINI
FINE FOODS PRIVATE LIMITED |
Director |
06-02-07 |
06-02-07 |
- |
Active |
NO |
|
Name : |
Mr. Anil Khurana |
|
Designation : |
Director |
|
Address : |
113/5, Sewan Gate, Kaithal, Haryana, India |
|
Date of Birth/Age : |
09.12.1961 |
|
Date of Appointment : |
25.10.1999 |
|
DIN No.: |
01105695 |
Other Directorship:
|
S.No. |
CIN |
Name
of the Company |
Current
designation of the director |
Date
of appointment at current designation |
Original
date of appointment |
Company
Status |
Defaulting
status |
|
1 |
U74899DL1995PTC069102 |
INFINI
AGROTECH PRIVATE LIMITED |
Director |
26-05-95 |
26-05-95 |
Amalgamated |
NO |
|
2 |
U15319DL1999PTC098638 |
MASTANA
FOODS PRIVATE LIMITED |
Director |
25-10-99 |
25-10-99 |
Active |
NO |
|
Name : |
Ms. Radha Kishan |
|
Designation : |
Director |
|
Address : |
114/5, Sewan Gate, Kaithal, Haryana, India |
|
Date of Birth/Age : |
01.04.1938 |
|
Date of Appointment : |
03.03.1999 |
|
DIN No.: |
03232048 |
Other Directorship:
|
S.No. |
CIN |
Name
of the Company |
Current
designation of the director |
Date
of appointment at current designation |
Original
date of appointment |
Company
Status |
Defaulting
status |
|
1 |
U74899DL1995PTC069102 |
INFINI
AGROTECH PRIVATE LIMITED |
Director |
01-04-97 |
01-04-97 |
Amalgamated |
NO |
|
2 |
U15319DL1999PTC098638 |
MASTANA
FOODS PRIVATE LIMITED |
Director |
03-03-99 |
03-03-99 |
Active |
NO |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2010
|
Names of Shareholders |
No. of Shares |
|
Krishan Mohan Mendiratta |
5085926 |
|
Radha Mendiratta |
1045402 |
|
Anuradha Mendiratta |
1068800 |
|
Krishan Mohan HUF |
640000 |
|
Anil Khurana |
320000 |
|
Anil Khurana |
1088000 |
|
Infini Fine Foods Private Limited, India |
2400000 |
|
Sanjivini Commotrade Private Limited, India |
5738000 |
|
Total |
17386128 |
AS ON 30.09.2010
|
Equity Shares
Break Up |
Percentage |
|
Bodies corporate |
47.00 |
|
Directors or relatives of Directors |
53.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Rice |
|
|
|
|
Exports : |
|
|
Products : |
Rice |
|
Countries : |
·
USA ·
UAE ·
Saudi Arabia |
|
|
|
|
Terms : |
|
|
Selling : |
L/C, Cash, Credit (30 Days) |
|
|
|
|
Purchasing : |
Cash, Credit (30 Days) |
PRODUCTION STATUS (AS ON 31.03.2011)
|
Particulars |
Unit |
Installed
Capacity |
Actual
Production |
|
Sotex Plant |
M.T. Per Hour |
34 |
-- |
|
Rice Milling Plant |
M.T. Per Hour |
26 |
-- |
|
Silky Plant |
M.T. Per Hour |
36 |
-- |
|
Rice |
|
|
|
|
Basmati |
In Qtls. |
-- |
307053.41 |
|
Super Fine |
In Qtls. |
-- |
5517.52 |
GENERAL INFORMATION
|
Customers : |
·
Wholesalers ·
Retailers ·
End Users |
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No. of Employees : |
80 (Approximately) |
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Bankers : |
State Bank of India, Jind Road, Kaithal-136027, Haryana, India |
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Facilities : |
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|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
M Lal and Associates Chartered Accountant |
|
Address : |
L 107, 2nd Floor, Lajpat Nagar II, Delhi-110024, India |
|
Pan No.: |
AAIFM6675M |
|
|
|
|
Entities over which key managerial personnel or
their relatives exercise significant influence : |
·
AKM Foods Private Limited CIN No.:- U15314HR2005PTC035907 ·
Infini Fine Food Private Limited CIN No.:- U15316HR2007PTC036588 |
CAPITAL STRUCTURE
AS ON 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
19500000 |
Equity Shares |
Rs.10/- each |
Rs. 195.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
17386928 |
Equity Shares |
Rs.10/- each |
Rs. 173.869
Millions |
|
|
|
|
|
NOTE:
Equity Shares of
Rs. 10/- each fully paid up in cash 1,73,86,928 Equity Shares with Voting
Rights of the above 1,07,97,408 Equity shares of Rs.10/- each are issued as
fully paid up bonus shares out of Reserve and Surplus.
AS ON 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
455000000 |
Equity Shares |
Rs.10/- each |
Rs. 455.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
44890208 |
Equity Shares |
Rs.10/- each |
Rs. 448.902
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 |
173.869 |
173.869 |
19.995 |
|
|
2] Share Application Money |
95.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
48.596 |
21.086 |
109.565 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
317.465 |
194.955 |
129.560 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
977.139 |
451.624 |
272.157 |
|
|
2] Unsecured Loans |
2.836 |
0.529 |
0.214 |
|
|
TOTAL BORROWING |
979.975 |
452.153 |
272.371 |
|
|
DEFERRED TAX LIABILITIES |
3.846 |
1.947 |
0.625 |
|
|
OTHER LIABILITIES |
272.032 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
1573.318 |
649.055 |
402.556 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
411.861 |
122.014 |
41.962 |
|
|
Capital work-in-progress |
15.029 |
51.579 |
0.720 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
1089.295
|
372.511 |
296.935 |
|
|
Sundry Debtors |
188.862
|
123.839 |
102.438 |
|
|
Cash & Bank Balances |
9.781
|
8.470 |
2.293 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
46.667
|
25.964 |
13.526 |
|
Total
Current Assets |
1334.605
|
530.784 |
415.192 |
|
|
Less : CURRENT LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
183.042
|
15.769 |
|
|
|
Other Current Liabilities |
4.176
|
39.104 |
|
|
|
Provisions |
0.959
|
0.449 |
3.019 |
|
Total
Current Liabilities |
188.177
|
55.322 |
55.318 |
|
|
Net Current Assets |
1146.428
|
475.462 |
359.874 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
1573.318 |
649.055 |
402.556 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
|
|
|
|
|
|
|
|
Income |
4300.520 |
2713.123 |
2151.442 |
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL |
4300.520 |
2713.123 |
2151.442 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
4237.052 |
2675.883 |
2132.856 |
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
4237.052 |
2675.883 |
2132.856 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
63.468 |
37.240 |
18.586 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
22.880 |
7.362 |
4.330 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE TAX
|
40.588 |
29.878 |
14.256 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
13.504 |
10.382 |
4.971 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
27.084 |
19.496 |
9.285 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
NA |
61.440 |
29.187 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Plant and Machinery |
NA |
37.878 |
5.040 |
|
|
TOTAL IMPORTS |
NA |
37.878 |
5.040 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
1.56 |
1.52 |
0.74 |
|
Expected Sales (2011-2012) : Rs. 5500.000 Millions
The above information has been parted by Mr. Krishan.
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total
Income |
(%) |
0.63
|
0.72 |
0.43 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.32
|
4.58 |
3.12 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.13
|
0.15 |
0.11 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
3.69
|
2.61 |
2.53 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
7.09
|
9.59 |
7.51 |
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. Constructions 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 |
Yes |
|
12. Profitability for last three years |
No |
|
13. Reasons for variation <> 20% |
No |
|
14. Estimation for coming financial year |
Yes |
|
15. Capital in the business |
Yes |
|
16. Details of sister concerns |
Yes |
|
17. Major suppliers |
No |
|
18. Major customers |
Yes |
|
19. Payments terms |
Yes |
|
20. Export / Import details |
Yes |
|
21. Market information |
------ |
|
22. Litigations that the firm / promoter involved |
------ |
|
23. Banking Details |
Yes |
|
24. Banking facility details |
No |
|
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 |
------ |
AMALGAMATION
As per the orders
of the Hon’ble High Court at New Delhi dated 29.04.2011, the Scheme of
Amalgamation of Infini Agrotech Private Limited (Transferor Company) with
Mastana Foods Private Limited (Transferee Company) was approved w. e. f. April
1, 2010. The formal order was received from the Hon’ble High Court at New Delhi
and filed with ROC New Delhi. All the business of erstwhile Infini Agrotech
Private Limited along with all assets and liabilities stand vested in your company
with effect from appointed date i. e. 01.04.2010. Amalgamation will result in pooling
of resources and higher financial liquidity. Accordingly, 2,72,03,280 fully
paid equity shares of Rs.10/- each were allotted to the shareholders of
erstwhile Infini Agrotech Private Limited.
FORM 8
|
Corporate
identity number of the company |
U15319DL1999PTC098638 |
|
Name of the
company |
MASTANA FOODS
PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
2646, 1st Floor, Gali Raghu Nandan, Naya Bazar, Delhi-110006 |
|
This form is for |
Creation of
charge |
|
Type of charge |
Immovable
property Book debts Movable property
(not being pledge) |
|
Particular of
charge holder |
State Bank of India, Jind Road, Kaithal-136027, Haryana, India |
|
Nature of
instrument creating charge |
Supplemental
agreement for loan for increase in overall limit dated 11.12.2010 |
|
Date of
instrument Creating the charge |
11.12.2010 |
|
Amount secured by
the charge |
Rs. 67.500
Millions |
|
Brief of the principal
terms an conditions and extent and operation of the charge |
Rate of interest 11.3% with
monthly rests Terms of repayment Repayable in 24
quarterly installments (23 quarterly
installments of 2.810 Millions each and the last installment of 2.870 Millions)
commencing from 31st december,2011 Margin 26% Extent and operation of the charge Term Loan of 67.500
Millions Against Machinery And
Building |
|
Short particulars
of the property charged (Including location of the property) |
Entire current
assets , including book debts and other current assets lying at mill premises
and/or anywhere in India Entire fixed
assets of the company Land and Building
Measuring 3 Kanals And 12 Marlas At Kurukshetra Road Kaithal |
FIXED ASSETS
·
Furniture and Fixtures
·
Computer Equipments
·
Building
·
Vehicles
·
Plant and Machinery
·
Land
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. 50.25 |
|
|
1 |
Rs. 79.76 |
|
Euro |
1 |
Rs. 66.52 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
4 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
35 |
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.