- Summary Information
|
|
|
Country |
|
|
Company Name |
STELCO LIMITED |
Principal Name 1 |
Mr. Gaurav Jindal |
|
Status |
Satisfactory |
Principal Name 2 |
Mr. Vijay Kumar Goyal |
|
|
|
Registration # |
16-13400 |
|
Street Address |
|
||
|
Established Date |
03.06.1993 |
SIC Code |
-- |
|
Telephone# |
91-1651-220240/ 220980/ 224240/ 223326 |
Business Style 1 |
Manufacturers |
|
Fax # |
91-1651-221240 |
Business Style 2 |
Suppliers of Strips, Steel Strips and Blades etc. |
|
Homepage |
Product Name 1 |
Colled Rolled Strips |
|
|
# of employees |
About 700
(Approximately) |
Product Name 2 |
CRCA Strips |
|
Paid up capital |
Rs.23,720,000
/- |
Product Name 3 |
Gang Saw Blade Steel |
|
Shareholders |
Bodies corporate – 42.00% Directors or
relatives of Directors – 58.00% |
Banking |
Punjab National
Bank |
|
Public Limited Corp. |
No |
Business Period |
19 Years |
|
IPO |
No |
International Ins. |
- |
|
Public |
No |
Rating |
Ba (49) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
CEO |
|
-- |
-- |
-- |
-- |
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2011 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
337,201,000 |
Current Liabilities |
45,152,000 |
|
Inventories |
146,748,000 |
Long-term Liabilities |
295,607,000 |
|
Fixed Assets |
107,621,000 |
Other Liabilities |
(766,000) |
|
Deferred Assets |
-- |
Total Liabilities |
339,993,000 |
|
Invest& other Assets |
4,481,000 |
Retained Earnings |
232,338,000 |
|
|
|
Net Worth |
256,058,000 |
|
Total Assets |
596,051,000 |
Total Liab. & Equity |
596,051,000 |
|
Total Assets (Previous Year) |
546,068,000 |
|
|
|
P/L Statement as of |
31.03.2011 |
(Unit: Indian Rs.) |
|
|
Sales |
1,214,094,000 |
Net Profit |
83,356,000 |
|
Sales(Previous yr) |
870,607,000 |
Net Profit(Prev.yr) |
40,839,000 |
MIRA
INFORM REPORT
|
Report Date : |
24.03.2012 |
IDENTIFICATION DETAILS
|
Name : |
STELCO LIMITED (w.e.f. 04.10.2000) |
|
|
|
|
Formerly Known
As : |
STELCO INDUSTRIES PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
|
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on)
: |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
03.06.1993 |
|
|
|
|
Com. Reg. No.: |
16-13400 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.23.720 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U27310PB1993PLC013400 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
AMRS13790A/ PTLS12595C |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAHCS7936B |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturers and Suppliers of Strips, Steel Strips and Blades etc |
|
|
|
|
No. of Employees
: |
About 700 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (49) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 1000000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
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.
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 / Factory : |
|
|
Tel. No.: |
91-1651-220240/ 220980/ 224240/ 223326 |
|
Fax No.: |
91-1651-221240 |
|
E-Mail : |
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|
Website : |
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Branches : |
Located at: ·
·
·
Ahmedabad |
DIRECTORS
As on 29.08.2011
|
Name : |
Mr. Gaurav Jindal |
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Designation : |
Whole Time Director |
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Address : |
Near Star Resorts, |
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Date of Birth/Age : |
11.12.1980 |
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Date of Appointment : |
08.09.2003 |
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DIN No.: |
00112815 |
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Other
Directorship
|
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|
||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Name : |
Mr. Vijay Kumar Goyal |
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|
Designation : |
Director |
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Address : |
223, NDMC Apartments, H-Block, Vikash Puri, |
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Date of Birth/Age : |
24.04.1960 |
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Date of Appointment : |
18.06.2009 |
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|
DIN No.: |
00041514 |
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|
Other
Directorship
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||
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||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Name : |
Mr. Pardip Kant Garkhail |
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|
Designation : |
Director |
||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Address : |
C-222, Sector – 19, Noida – 201301, |
||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Date of Birth/Age : |
10.05.1954 |
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Date of Appointment : |
21.09.2009 |
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DIN No.: |
00749050 |
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Other
Directorship
|
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|
||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Name : |
Mr. Saroj Jindal |
||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Whole Time Director |
||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Address : |
Stelco Industries Limited, Rampura Phul, Bathinda – 151103, |
||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Date of Birth/Age : |
14.05.1956 |
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Date of Appointment : |
05.10.2009 |
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|
DIN No.: |
02798739 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Other
Directorship
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 29.08.2011
|
Names of Shareholders |
|
No. of Shares |
|
|
|
15000 |
|
Rajinder Kumar Jindal |
|
10000 |
|
Santosh Rani |
|
297000 |
|
Amiya Finance Limited, |
|
448750 |
|
Gaurav Jindal |
|
364250 |
|
Ankita Jindal |
|
340000 |
|
Nidhi Jindal |
|
187000 |
|
Saroj Jindal |
|
160000 |
|
Citi Securities Private Limited |
|
550000 |
|
Total |
|
2372000 |
As on 29.08.2011
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Bodies corporate |
42.00 |
|
Directors or relatives of Directors |
58.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturers and Suppliers of Strips, Steel Strips and Blades etc |
||||
|
|
|
||||
|
Products : |
·
Colled Rolled Strips ·
CRCA Strips ·
Gang Saw Blade Steel ·
Band Saw Blades Steel
|
PRODUCTION STATUS (As On 31.03.2010)
|
Particulars |
Unit |
Licensed
Capacity |
Installed
Capacity |
Actual
Production |
|
C.R. Steel Strips |
MT |
24000 |
24000 |
13613.9 |
GENERAL INFORMATION
|
No. of Employees : |
About 700 (Approximately) |
||||||||||||||||||||||||||||||||||||
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|
|
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Bankers : |
Punjab National Bank, Rampura Phul-151103, |
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|
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Facilities : |
(Rs.
In Millions)
|
|
|
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Banking
Relations : |
-- |
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|
|
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Auditors : |
|
|
Name : |
P. Mittal and Company Chartered Accountants |
|
Address : |
Mittal Street, |
|
PAN.: |
AABCS9235K |
CAPITAL STRUCTURE
As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3000000 |
Equity Shares |
Rs.10/- each |
Rs.30.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2372000 |
Equity Shares |
Rs.10/- each |
Rs.23.720
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 |
23.720 |
23.720 |
23.720 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
232.338 |
145.966 |
105.127 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
256.058 |
169.686 |
128.847 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
279.520 |
279.839 |
161.153 |
|
|
2] Unsecured Loans |
16.087 |
35.527 |
11.826 |
|
|
TOTAL BORROWING |
295.607 |
315.366 |
172.979 |
|
|
DEFERRED TAX LIABILITIES |
(0.766) |
0.505 |
1.379 |
|
|
|
|
|
|
|
|
TOTAL |
550.899 |
485.557 |
303.205 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
107.621 |
72.299 |
69.321 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
4.481 |
4.188 |
4.116 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
146.748
|
141.577 |
61.385 |
|
|
Sundry Debtors |
273.415
|
243.277 |
145.781 |
|
|
Cash & Bank Balances |
42.794
|
51.783 |
7.435 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
20.992
|
32.944 |
15.327 |
|
Total
Current Assets |
483.949
|
469.581 |
229.928 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
13.068
|
38.375 |
(9.768) |
|
|
Other Current Liabilities |
31.842
|
21.984 |
4.582 |
|
|
Provisions |
0.242
|
0.152 |
5.346 |
|
Total
Current Liabilities |
45.152
|
60.511 |
0.160 |
|
|
Net Current Assets |
438.797
|
409.070 |
229.768 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
550.899 |
485.557 |
303.205 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
1214.094 |
870.607 |
753.689 |
|
|
|
Other Income |
1.815 |
2.191 |
8.858 |
|
|
|
TOTAL (A) |
1215.909 |
872.798 |
762.547 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Consumption materials changes inventories |
829.891 |
610.519 |
|
|
|
|
Manufacturing service costs |
159.205 |
121.211 |
701.140 |
|
|
|
Employee related expenses |
12.621 |
10.226 |
|
|
|
|
Administrative selling other expenses |
45.248 |
31.784 |
|
|
|
|
|
|
|
|
|
|
|
TOTAL (B) |
1046.965 |
773.740 |
701.140 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
168.944 |
99.058 |
61.407 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
26.677 |
24.584 |
17.914 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
142.267 |
74.474 |
43.493 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
14.588 |
12.305 |
11.565 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
127.679 |
62.169 |
31.928 |
|
|
|
|
|
|
|
|
|
Less |
TAX (I) |
44.323 |
21.330 |
11.304 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-I) (J) |
83.356 |
40.839 |
20.624 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
121.645 |
80.806 |
60.607 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
205.001 |
121.645 |
80.806 |
|
|
|
|
|
|
|
|
|
|
TOTAL EARNINGS |
89.044 |
62.198 |
47.365 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
NA |
27.413 |
NA |
|
|
|
Consumables |
NA |
2.030 |
NA |
|
|
|
Machinery |
NA |
1.356 |
NA |
|
|
TOTAL IMPORTS |
NA |
30.799 |
NA |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
37.54 |
17.30 |
8.69 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
6.86
|
4.68 |
2.70 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
10.52
|
7.14 |
4.24 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
21.58
|
11.47 |
10.67 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.50
|
0.37 |
0.25 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.33
|
2.22 |
1.34 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
10.72
|
7.76 |
1437.05 |
LOCAL AGENCY FURTHER INFORMATION
FINANCIAL RESULTS:
The company has concluded another year of profitable operations the sales and other income for 2010-11 is Rs.1215.900 Millions as compared to Rs.872.800 Millions for the last year. The after tax profit of the company has been increased to Rs.84.900 Millions from Rs.41.000 Millions in the previous year. No dividend is being declared for the year 2010-11 to conserve resources.
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate
identity number of the company |
U27310PB1993PLC013400 |
|
Name of the
company |
STELCO LIMITED |
|
Address of the registered
office or of the principal place of
business in |
|
|
This form is for |
Modification of charge |
|
Charge
identification (ID) number of the charge to be modified |
90180030 |
|
Type of charge |
· Immovable property · Book debts ·
Movable property (not being pledge) |
|
Particular of
charge holder |
Punjab National Bank, Rampura Phul-151103, |
|
Nature of
instrument creating charge |
Hypothecation of goods and book debts to secure cash credit facility |
|
Date of instrument
Creating the charge |
29.09.2011 |
|
Amount secured by
the charge |
Rs.170.000
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of interest Minimum @ 14.75% pa Terms of repayment on demand Margin as per original agreement Extent and
operation of the charge 100 % |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
as per original agreement |
|
Date of instrument
modifying the charge |
17.03.2010 |
|
Particulars of
the present modification |
Credit facility enhanced to Rs.170.000 Millions (170.000 Millions) as per details below :- CC Stocks Rs. 90.000 Millions CC Book Debts Rs. 60.000 Millions CC Packing Credit Rs. 20.000 Millions --------------------- Total Rs. 170.000 Millions --------------------- |
Fixed Assets
·
Land
·
·
·
Machinery
·
Furniture
·
Office Equipments
·
Computer
·
Vehicle
AS PER WEBSITE
Company Profile:
Subject is
manufacturers and suppliers of strips, steel strips, blades etc. established in
year 1980, supplying its products to most reputed customers.
Subject since inception have
made efforts to manufacture "zero defect products" giving most
importance to the Cold Rolled Steel
Strips and Hardened and Tempered
Steel Strips. The high standards both in expertise and result
oriented endeavors, have sustained history of producing high quality products
from the very inception of the company.
Subject presently deals in
premium range of steel strips, such as High Carbon, Medium Carbon, EN. 8, EN.
9, EN 47, HC 21, HC 14, Annealed, Hardened and Tempered, and also, CR-D, D.D.,
E.DD, Quality Strips, from India's reputed manufacturers to name a few.
Along with maintaining better infrastructure, the company has a fleet of
well experienced more than 200 professionals to look after the customer
interest. They cross-train the employees to perform any job on their production
lines. The company maintains a good relationship with its business partners,
clients and also with new buyers who understand the quality and display a true
sense of commitment.
The company emphasis to achieve superior performance and
high quality products at low cost. Quality means nothing less than the products
at reasonable cost which represent and satisfy the needs and expectations of the
customers with continual improvement by reducing wastage and improving
production
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.50.91 |
|
|
1 |
Rs.80.77 |
|
Euro |
1 |
Rs.67.40 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
49 |
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.