Business
information report
1. Summary Information
|
|
|
Country |
|
|
Company Name |
SWABS INDIA
PRIVATE LIMTIED |
Principal Name 1 |
Mr. Mohana Gupta Madupalli |
|
Status |
Moderate |
Principal Name 2 |
Mr. Malleswari Madupalli |
|
|
|
Registration # |
18-019221 |
|
Street Address |
A-18, Madras Export, Processing zone, Tambaram, Madras-600045,
Tamilnadu |
||
|
Established Date |
28.05.1990 |
SIC Code |
-- |
|
Telephone# |
91-44-22628385 |
Business Style 1 |
Manufacturer |
|
Fax # |
91-44-22628388 |
Business Style 2 |
Exporter |
|
Homepage |
Product Name 1 |
Cottonswabs |
|
|
# of employees |
Not Available |
Product Name 2 |
-- |
|
Paid up capital |
Rs. 30,000,000/- |
Product Name 3 |
-- |
|
Shareholders |
Foreign holdings – 32.13% Directors or
relatives of Directors – 67.87% |
Banking |
Axis Bank |
|
Public Limited Corp. |
No |
Business Period |
22 Years |
|
IPO |
No |
International Ins. |
- |
|
Public Enterprise |
No |
Rating |
Ca (18) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
CEO |
|
Other
Related Liability |
India
|
Gupta Swabs Limited |
-- |
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2011 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
5,496,000 |
Current Liabilities |
10,099,000 |
|
Inventories |
9,964,000 |
Long-term Liabilities |
59,830,000 |
|
Fixed Assets |
33,359,000 |
Other Liabilities |
268,000 |
|
Deferred Assets |
0,000 |
Total Liabilities |
70,197,000 |
|
Invest& other Assets |
0,000 |
Retained Earnings |
1,278,000 |
|
|
|
Net Worth |
(21,378,000) |
|
Total Assets |
48,819,000 |
Total Liab. & Equity |
48,819,000 |
|
Total Assets (Previous Year) |
56,584,000 |
|
|
|
P/L Statement as of |
31.03.2011 |
(Unit: Indian Rs.) |
|
|
Sales |
7,955,000 |
Net Profit / (Loss) |
(14,460,000) |
|
Sales(Previous yr) |
12,281,000 |
Net Profit/
(Loss) (Prev.yr) |
(9,184,000) |
MIRA
INFORM REPORT
|
Report Date : |
30.03.2012 |
IDENTIFICATION DETAILS
|
Name : |
SWABS INDIA PRIVATE LIMITED (w.e.f. 20.12.1996) |
|
|
|
|
Formerly Known
As : |
SALWOO VASAVI SWABS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
A-18, Madras Export Processing Zone, Tambaram, Madras-600045,
Tamilnadu |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
28.05.1990 |
|
|
|
|
Com. Reg. No.: |
18-019221 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 30.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U36999TN1990PTC019221 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
CHES06360E |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer, Exporter and Supplier of cotton buds, automatic
packaging machine, coding marking machine products exporting of cotton buds |
|
|
|
|
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 |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having moderate track. Profitability
of the company is under pressure. There appears huge accumulated losses recorded
by the company. However, trade relations are reported as fair. Business is
active. Payments are reported to be slow. The company can be considered for business dealings on a secured 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) |
|
India |
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 : |
A-18, Madras Export, Processing zone, Tambaram, Madras-600045,
Tamilnadu, India |
|
Tel. No.: |
91-44-22628385 / 22628082 |
|
Fax No.: |
91-44-22628388 |
|
E-Mail : |
DIRECTORS
AS ON 30.09.2011
|
Name : |
Mr. Krishna Kishore Madupalli |
|
Designation : |
Director |
|
Address : |
279, Sydenhams Road, Chennai-600112, Tamilnadu, India |
|
Date of Birth/Age : |
05.03.1972 |
|
Date of Appointment : |
14.04.1991 |
|
DIN No.: |
00308218 |
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 |
U36999TN1990PTC019221 |
SWABS
INDIA PRIVATE LIMITED |
Director |
14-04-91 |
14-04-91 |
Active |
NO |
|
2 |
U25209TN1994PTC028038 |
KRISH
POLYMERS PRIVATE LIMITED |
Director |
11-07-94 |
11-07-94 |
Amalgamated |
NO |
|
3 |
U17111TN1996PLC034076 |
GUPTA
SWABS LIMITED |
Director |
04-01-96 |
04-01-96 |
Active |
NO |
|
4 |
U36993TN2001PTC048029 |
GUPTA
HAIR PRODUCTS PRIVATE LIMITED |
Managing
director |
13-11-01 |
13-11-01 |
Active |
NO |
|
5 |
U45201TN2004PTC052997 |
M.M.G.HOLDINGS
PRIVATE LIMITED |
Managing
director |
19-04-04 |
19-04-04 |
Active |
NO |
|
6 |
U74999TN2005PTC057562 |
INDO
HAIR PRODUCTS PRIVATE LIMITED |
Managing
director |
21-09-05 |
21-09-05 |
Active |
NO |
|
Name : |
Mr. Mohana Gupta Madupalli |
|
Designation : |
Managing Director |
|
Address : |
279, Sydenhams Road, Chennai-600112, Tamilnadu, India |
|
Date of Birth/Age : |
31.10.1945 |
|
Date of Appointment : |
14.04.1991 |
|
DIN No.: |
00308262 |
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 |
U36999TN1990PTC019221 |
SWABS
INDIA PRIVATE LIMITED |
Managing
director |
14-04-91 |
14-04-91 |
Active |
NO |
|
2 |
U25209TN1994PTC028038 |
KRISH
POLYMERS PRIVATE LIMITED |
Managing
director |
11-07-94 |
11-07-94 |
Amalgamated |
NO |
|
3 |
U17111TN1996PLC034076 |
GUPTA
SWABS LIMITED |
Managing
director |
04-01-96 |
04-01-96 |
Active |
NO |
|
4 |
U36993TN2001PTC048029 |
GUPTA
HAIR PRODUCTS PRIVATE LIMITED |
Managing
director |
13-11-01 |
13-11-01 |
Active |
NO |
|
5 |
U45201TN2004PTC052997 |
M.M.G.HOLDINGS
PRIVATE LIMITED |
Managing
director |
19-04-04 |
19-04-04 |
Active |
NO |
|
6 |
U74999TN2005PTC057562 |
INDO
HAIR PRODUCTS PRIVATE LIMITED |
Managing
director |
21-09-05 |
21-09-05 |
Active |
NO |
|
Name : |
Mr. Malleswari Madupalli |
|
Designation : |
Director |
|
Address : |
279, Sydenhams Road, Chennai-600112, Tamilnadu, India |
|
Date of Birth/Age : |
07.07.1953 |
|
Date of Appointment : |
25.08.1994 |
|
DIN No.: |
00341682 |
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 |
U25209TN1994PTC028038 |
KRISH
POLYMERS PRIVATE LIMITED |
Director |
11-07-94 |
11-07-94 |
Amalgamated |
NO |
|
2 |
U36999TN1990PTC019221 |
SWABS
INDIA PRIVATE LIMITED |
Director |
25-08-94 |
25-08-94 |
Active |
NO |
|
3 |
U17111TN1996PLC034076 |
GUPTA
SWABS LIMITED |
Director |
04-01-96 |
04-01-96 |
Active |
NO |
|
4 |
U36993TN2001PTC048029 |
GUPTA
HAIR PRODUCTS PRIVATE LIMITED |
Director |
13-11-01 |
13-11-01 |
Active |
NO |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2011
|
Names of Shareholders |
No. of Shares |
|
Mohana Gupta Madupalli |
310322 |
|
Krishna Kishore Madupalli |
15923 |
|
Malleswari Madupalli |
560525 |
|
Sara International Limited, Hong Kong |
963853 |
|
Vijaykumar M |
1149377 |
|
Total |
3000000 |
AS ON 03.02.2012
|
Names of Shareholders |
No. of Shares |
|
Mohana Gupta Madupalli |
150000 |
|
Krishna Kishore Madupalli |
300 |
|
Malleswari Madupalli |
524700 |
|
Vijaykumar M |
825000 |
|
Total |
1500000 |
AS ON 30.09.2011
|
Equity Shares
Break Up |
Percentage |
|
Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s), Non-resident
Indian(s) or Overseas Corporate bodies or Others |
32.13 |
|
Directors or relatives of Directors |
67.87 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer, Exporter and Supplier of cotton buds, automatic
packaging machine, coding marking machine products exporting of cotton buds |
||||
|
|
|
||||
|
Products : |
|
PRODUCTION STATUS (AS ON 31.03.2011)
|
Particulars |
Unit |
31.03.2011 |
|
|
|
|
|
Licensed
Capacity |
Nos. In Lacs |
78000 |
|
|
|
|
|
Installed
Capacity |
Nos. In Lacs |
31000/63000* |
Note : *If factory runs on 2 shift basis.
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
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|
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|
Bankers : |
·
Axis Bank, MID Corporate Branch, 3rd
Floor, No.328, Thambu Chetty Street, Chennai-600001, Tamilnadu, India |
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Facilities : |
|
|
|
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|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
B Purshottam and Company Chartered Accountant |
|
Address : |
23/A, North Boag Road, T. Nagar, Chennai-600017, Tamilnadu, India |
|
Tel. No.: |
91-44-28152515 / 42013486 |
|
Fax No.: |
91-44-42013485 |
|
E-Mail : |
|
|
Pan No.: |
AADFB9589N |
|
|
|
|
Enterprise where significant influence exists : |
·
Gupta Swabs Limited ·
Gupta Enterprises ·
Lavanya Enterprises ·
Lavanya Exports ·
Krish Polymers Private Limited |
|
|
|
|
Entities exercising significant influence : |
Sara International Limited |
CAPITAL STRUCTURE
AS ON 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4000000 |
Equity Shares |
Rs.10/- each |
Rs. 40.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3000000 |
Equity Shares |
Rs.10/- each |
Rs. 30.000
Millions |
|
|
|
|
|
AS ON 30.09.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4750000 |
Equity Shares |
Rs.10/- each |
Rs. 47.500 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4500000 |
Equity Shares |
Rs.10/- each |
Rs. 45.000
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 |
30.000 |
30.000 |
30.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
1.278 |
1.278 |
1.278 |
|
|
4] (Accumulated Losses) |
(52.656) |
(38.196) |
(29.012) |
|
|
NETWORTH |
(21.378) |
(6.918) |
2.266 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
11.929 |
17.017 |
16.423 |
|
|
2] Unsecured Loans |
47.901 |
39.517 |
36.551 |
|
|
TOTAL BORROWING |
59.830 |
56.534 |
52.974 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
38.452 |
49.616 |
55.240 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
33.359 |
35.790 |
37.885 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
9.964
|
14.762 |
17.531 |
|
|
Sundry Debtors |
0.864
|
0.886 |
0.068 |
|
|
Cash & Bank Balances |
0.442
|
0.616 |
0.216 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
4.190
|
4.530 |
5.998 |
|
Total
Current Assets |
15.460
|
20.794 |
23.813 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
0.816
|
1.196 |
0.512 |
|
|
Other Current Liabilities |
9.283
|
5.514 |
5.545 |
|
|
Provisions |
0.268
|
0.258 |
0.401 |
|
Total
Current Liabilities |
10.367
|
6.968 |
6.458 |
|
|
Net Current Assets |
5.093
|
13.826 |
17.355 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
38.452 |
49.616 |
55.240 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
7.955 |
12.281 |
3.136 |
|
|
|
Other Income |
0.282 |
1.707 |
0.168 |
|
|
|
TOTAL |
8.237 |
13.988 |
3.304 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
23.172 |
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
NA |
23.172 |
22.327 |
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
NA |
(9.184) |
(19.023) |
|
|
|
|
|
|
|
|
|
Less |
TAX |
NA |
0.000 |
(4.093) |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
(14.460) |
(9.184) |
(14.930) |
|
|
|
|
|
|
|
|
|
|
EXPORT VALUE |
2.574 |
10.142 |
2.114 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
(4.82) |
(3.06) |
(4.98) |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
(175.55)
|
(65.66) |
(451.88) |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
NA
|
(74.78) |
(606.60) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
NA
|
(16.23) |
(30.83) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
NA
|
1.33 |
(8.39) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
(3.28) |
(9.18) |
26.23 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.49
|
2.98 |
3.69 |
LOCAL AGENCY FURTHER INFORMATION
PERFORMANCE
During the Financial Year the Company
has exported 4 Nos. of 40' HC I 20' HC containers with an export turnover of Rs. 2.847 Millions. They
could not make expected exports due to the economic conditions prevailing in
USA and EU Countries. To keep
the operations going the company focused to establish its presence in the local market, during the year they recorded a sale of Rs. 5.108 Millions. They are continuing
their efforts to improve their share in the domestic market.
FIXED ASSETS
·
Building
·
Furniture and Fixtures
·
Computer
·
Vehicles
·
Office Equipment
·
Tools and Equipments
·
Workshop Machinery
·
Factory Equipments
·
Plant and Machinery
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. 51.14 |
|
|
1 |
Rs. 81.41 |
|
Euro |
1 |
Rs. 68.22 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
2 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
2 |
|
--PROFITABILIRY |
1~10 |
-- |
|
--LIQUIDITY |
1~10 |
2 |
|
--LEVERAGE |
1~10 |
2 |
|
--RESERVES |
1~10 |
2 |
|
--CREDIT LINES |
1~10 |
1 |
|
--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 |
|
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.