|
Report Date : |
08.05.2012 |
IDENTIFICATION DETAILS
|
Name : |
SMITA CONDUCTORS PRIVATE LIMITED (w.e.f. 11.04.2012) |
|
|
|
|
Formerly Known
As : |
SMITA CONDUCTORS LIMITED |
|
|
|
|
Registered
Office : |
1402/ 3, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
22.04.1971 |
|
|
|
|
Com. Reg. No.: |
11-015121 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.20.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U32104MH1971PLC015121 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMS35548C |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACS5379K |
|
|
|
|
Legal Form : |
Private Limited Liability Company
|
|
|
|
|
Line of Business
: |
Manufacturer of A.A.C. and A.C.S.R. Conductors. |
|
|
|
|
No. of Employees
: |
300 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (53) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 3524652 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an old established company having satisfactory track.
Financial position of the company appears to be good. Trade relations are
reported as fair. Business is active. Payments are reported to be regular 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 PARTED BY
|
Name : |
Mr. Vimal Chaudiwala |
|
Designation : |
Accounts Manager |
|
Contact No.: |
91-22-22868640 |
|
Date : |
08.05.2012 |
LOCATIONS
|
Registered/ Corporate Office : |
1402/ 3, |
|
Tel. No.: |
91-22-22871059/ 22820240 (5 Lines)/ 61588300 |
|
Fax No.: |
91-22-22875380 |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
4500 sq ft |
|
Location : |
Owned |
|
|
|
|
Factory 1 : |
Vithalwadi, |
|
E-Mail : |
|
|
Area : |
10000 sq ft |
|
Location : |
Owned |
|
|
|
|
Factory 2 : |
Survey No.8, Village Khutali, |
|
Tel. No.: |
91-260-2677640 |
|
Fax No.: |
91-260-2677641 |
|
|
|
|
Factory 3 : |
Kot, Arya Nagar, |
|
Tel. No.: |
91-120-2861130 / 2861131 |
|
Fax No.: |
91-120-2861132 |
|
E-Mail : |
DIRECTORS
AS ON 30.09.2011
|
Name : |
Mr. Bharatkumar Taparia |
|
Designation : |
Director |
|
Address : |
68A, Rungta House, |
|
Date of Birth/Age : |
05.08.1946 |
|
Date of Appointment : |
22.04.1971 |
|
|
|
|
Name : |
Mr. Himmatmal Rajmal Jain |
|
Designation : |
Director |
|
Address : |
502, Bhanu Vinayak, |
|
Date of Birth/Age : |
10.07.1944 |
|
Date of Appointment : |
02.12.1996 |
|
|
|
|
Name : |
Mr. Veerendraraj Prakashraj Singhvi |
|
Designation : |
Additional Director |
|
Address : |
16, Nanda Deep, Tai Pingle Chowk, |
|
Date of Birth/Age : |
28.06.1954 |
|
Date of Appointment : |
11.09.2009 |
KEY EXECUTIVES
|
Name : |
Mr. Vimal Chaudiwala |
|
Designation : |
Accounts Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2011
|
Names of Shareholders |
No. of Shares |
|
Taparia Investments Private Limited, |
740000 |
|
Devashish Investments Private Limited , |
740000 |
|
Narendra Udyog Private Limited , |
39700 |
|
Aditi Holdings Private Limited , India |
480000 |
|
B K Taparia |
100 |
|
B K Taparia C/o. BKT HUF |
100 |
|
Neeraja B Taparia |
100 |
|
Total
|
2000000 |
AS ON 30.09.2011
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Bodies
corporate |
99.99 |
|
Directors or relatives of directors |
0.01 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of A.A.C. and A.C.S.R. Conductors. |
||||||
|
|
|
||||||
|
Product: |
|
||||||
|
|
|
||||||
|
Terms : |
|
||||||
|
Selling : |
Cash and Credit |
||||||
|
|
|
||||||
|
Purchasing : |
Cash and Credit |
PRODUCTION STATUS (As on 31.03.2011)
|
Particulars |
Unit |
Installed
Capacity |
Actual
Production |
|
Conductors |
M. Tons |
90000 |
14985 |
GENERAL INFORMATION
|
Suppliers : |
Tata Steel |
||||||||||||||||||
|
|
|
||||||||||||||||||
|
Customers : |
·
End Users ·
OEM’s ·
Manufacturer ·
Power Grid Corporation of India Limited (90%
Customes) |
||||||||||||||||||
|
|
|
||||||||||||||||||
|
No. of Employees : |
300 (Approximately) |
||||||||||||||||||
|
|
|
||||||||||||||||||
|
Bankers : |
|
||||||||||||||||||
|
|
|
||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Karnavat and Company Chartered Accountants |
|
Address : |
2 A, Kitab Mahal, 192, |
|
Tel. No.: |
91-22-40666666 (30 Lines) |
|
Fax No.: |
91-22-40666660 |
|
E-Mail : |
|
|
PAN : |
AAAFK1143L |
|
|
|
|
Enterprises
Owned Or Significantly Influenced By Management ( Relating To Transaction
During The Year ): |
·
Shree Enterprises ·
Taparia Limited ·
Narendra Udyog Private Limited ·
Bharat Neeraj Pariwar Nidhi |
CAPITAL STRUCTURE
AS ON 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2,000,000 |
Equity Shares |
Rs.10/- each |
Rs.20.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2,000,000 |
Equity Shares |
Rs.10/- each |
Rs.20.000 Millions |
|
|
|
|
|
Of the above shares 1950000 shares are allotted
as fully paid up Bonus Shares by capitalization of reserves.
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 |
20.000 |
20.000 |
20.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
861.163 |
602.360 |
361.350 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
881.163 |
622.360 |
381.350 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
41.604 |
63.577 |
4.073 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
16.000 |
|
|
TOTAL BORROWING |
41.604 |
63.577 |
20.073 |
|
|
DEFERRED TAX LIABILITIES |
6.611 |
7.791 |
4.106 |
|
|
|
|
|
|
|
|
TOTAL |
929.378 |
693.728 |
405.529 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
101.511 |
111.728 |
59.729 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
420.820 |
209.993 |
195.347 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
74.888
|
269.145
|
95.995
|
|
|
Sundry Debtors |
24.349
|
203.664
|
141.767
|
|
|
Cash & Bank Balances |
236.055
|
543.208
|
370.316
|
|
|
Other Current Assets |
0.000
|
0.000
|
0.000
|
|
|
Loans & Advances |
376.234
|
98.016
|
128.907
|
|
Total
Current Assets |
711.526
|
1114.033
|
736.985
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
198.217
|
547.652
|
140.330 |
|
|
Other Current Liabilities |
103.192
|
193.018
|
444.473
|
|
|
Provisions |
3.070
|
1.356
|
1.729
|
|
Total
Current Liabilities |
304.479
|
742.026
|
586.532
|
|
|
Net Current Assets |
407.047
|
372.007
|
150.453
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
929.378 |
693.728 |
405.529 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
||
|
|
SALES |
|
|
|
||
|
|
|
Net Sales |
2133.419 |
2496.682 |
1049.576 |
|
|
|
|
Other Income |
79.824 |
57.587 |
23.300 |
|
|
|
|
TOTAL (A) |
2213.243 |
2554.269 |
1072.876 |
|
|
|
|
|
|
|
||
|
Less |
EXPENSES |
|
|
|
||
|
|
|
Raw Material Consumed |
1681.219 |
2012.705 |
804.100 |
|
|
|
|
Employee Related Expenses |
49.840 |
47.977 |
0.000 |
|
|
|
|
Increase/(Decrease) in Finished Goods Stock |
0.000 |
0.000 |
1.589 |
|
|
|
|
Manufacturing and Operating Expenses |
17.355 |
19.974 |
45.627 |
|
|
|
|
Excise Duty on stock difference of finished
goods |
0.000 |
0.000 |
(3.780) |
|
|
|
|
Personnel Expenses |
0.000 |
0.000 |
27.533 |
|
|
|
|
Administrative and Other Expenses |
59.004 |
57.541 |
58.065 |
|
|
|
|
TOTAL (B) |
1807.418 |
2138.197 |
933.134 |
|
|
|
|
|
|
|
||
|
|
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
405.825 |
416.072 |
139.742 |
||
|
|
|
|
|
|
||
|
Less |
INTEREST (D) |
13.420 |
45.776 |
18.499 |
||
|
|
|
|
|
|
||
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
392.405 |
370.296 |
121.243 |
||
|
|
|
|
|
|
||
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
12.215 |
9.602 |
5.380 |
||
|
|
|
|
|
|
||
|
|
PROFIT BEFORE
TAX (E-F) (G) |
380.190 |
360.694 |
115.863 |
||
|
|
|
|
|
|
||
|
Less |
TAX (H) |
121.387 |
119.684 |
38.772 |
||
|
|
|
|
|
|
||
|
|
PROFIT AFTER TAX
(G-H) (I) |
258.803 |
241.010 |
77.091 |
||
|
|
|
|
|
|
||
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
575.103 |
334.093 |
257.002 |
||
|
|
|
|
|
|
||
|
|
BALANCE CARRIED
TO THE B/S |
833.906 |
575.103 |
334.093 |
||
|
|
|
|
|
|
||
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
||
|
|
|
FOB value of deemed exports |
40.602 |
167.020 |
173.635 |
|
|
|
|
FOB value of exports |
181.462 |
74.219 |
205.194 |
|
|
|
TOTAL EARNINGS |
222.064 |
241.239 |
378.829 |
||
|
|
|
|
|
|
||
|
|
IMPORTS VALUE |
40.490 |
419.162 |
74.899 |
||
|
|
|
|
|
|
||
|
|
Earnings Per
Share (Rs.) |
129.49 |
120.51 |
38.55 |
||
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
11.69
|
9.44
|
7.19 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
17.82
|
14.45
|
11.04 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
46.76
|
29.43
|
14.54 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.43
|
0.57
|
0.30 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.40
|
1.29
|
1.59 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.33
|
1.50
|
1.26 |
LOCAL AGENCY FURTHER INFORMATION
Details of Sundry Creditors:
|
Particulars |
31.03.2011 (Rs. in millions |
31.03.2010 (Rs. in millions |
31.03.2009 (Rs. in millions) |
|
Sundry Creditors |
|
|
|
|
Total outstanding
dues of others creditors |
198.217 |
547.652 |
140.330 |
|
Total |
198.217 |
547.652 |
140.330 |
GENERAL:
The turnover during the year was Rs.2322.959 millions. During the year Rs.258.803
millions is transferred to Reserves and Surplus.
PROSPECTS:
Prospects of Conductor Industry looks bright because of the massive plan
of Government of India for Power Sector. Total pending orders in hand as on 31st
March, 2010 was Rs.1970.000 millions.
Bankers Charges
Report as per Registry
|
Corporate
identity number of the company |
U32104MH1971PLC015121 |
|
Name of the
company |
SMITA CONDUCTORS PRIVATE LIMITED (w.e.f. 11.04.2012) |
|
Address of the registered
office or of the principal place of
business in |
1402/ 3, Raheja Center, Nariman Point, Mumbai – 400 021, Maharashtra,
India |
|
This form is for |
Modification of
charge |
|
Type of charge |
Book debts Movable property (not
being pledge) |
|
Particular of
charge holder |
Bank of Baroda (Lead Bank), Nariman Point Branch, Foreshore Building,
Gen Bhosale Marg, Nariman Point, Mumbai-400 021, Maharashtra, India Email: ravinputhran@yahoo.co.in |
|
Nature of
instrument creating charge |
4th Supplemental
Joint Deed Of Hypothecation Of Stocks and Book Debts And Moveable Machinery |
|
Date of
instrument Creating the charge |
27.05.2011 |
|
Amount secured by
the charge |
Rs. 3246.000
millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of interest :@0.50% Below
Bplr I.E.@12% P.A. With Montly Rests(Tl) :4%Over Base Rate
I.E.12% P. A. (Cc) :As Per Bank's
Rules From Time To Time(Pc) :On Demand Bills
and On Usance Bills As Per Bank's Rules(Fbp/Fbd) Terms of repayment Bank Of Baroda :
Fb = Term Loan, Working Capital : Cash Credit (Hyp. Of Stock/ Book Debts),
Pc/ Pcfc/ Fbp/ Fcbp (Pc Up To 90days and Fbf Up To 180days) Nfb = Inland/
Import L/Cs Dp/ Da Usance 180days, Sub Limit: For Standby L/C (Sight),
Inland/ Foreign Guarantees (Performance/ Financial), Sub Limit: Advance
Payment Guarantee Derivative and
Forward Contract Limit Of Rs.320 millions. and Notional Exposure Limit @5% Of
Forward Contract Limit Central Bank Of
India : Fb = Cc (H)*,Wcdl,Packing Credit Margin 25% On Term Loan 25% On
Inventories 40% On Book Debts 20% For Pc And
Nil For Fbp 5% In Form Of Fdr
(Negative Carry On Account Of Mtm) Extent and operation of the charge Bank Of Baroda
B/O Nariman Point Mumbai Pari Passu First Charge With Central Bank Of India
B/O M.G. Road Fort Mumbai |
|
Short particulars
of the property charged (Including location of the property) |
The Whole Of The Current
Assets Of The Borrowers Namely, Stocks Of Raw Materials, Stock In Process,
Semi Finished and Finished Goods, Stores and Relating To Plant And
Machinery(Consumable Stores and Spares) Export/ Local
Bills Receivable, Book Debts, Moveable Plant And Machinery, Stores And Spares
Relating To The Machinery And Other Moveables, Both Present And Future |
|
Date of
instrument modifying the charge |
12.08.2009 |
|
Particulars of
the present modification |
Charge Increased
To Rs.3246.000 millions Charge Holders Rs. In Millions Bank Of
Baroda 1966.000 Central Bank Of
India 1280.000
____________
3246.000 |
FIXED ASSETS
· Leasehold Land
· Freehold Land
· Factory Building
· Non Factory Building
· Plant and Machinery
· Furniture and Fixtures
· Office Equipments
· Vehicles
· Live Stock
|
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 |
Yes |
|
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 |
Yes |
|
13) Reasons for variation <> 20% |
-- |
|
14) Estimation for coming financial year |
No |
|
15) Capital in the business |
Yes |
|
16) Details of sister concerns |
Yes |
|
17) Major suppliers |
Yes |
|
18) Major customers |
Yes |
|
19) Payments terms |
Yes |
|
20) Export / Import details (if
applicable) |
No |
|
21) Market information |
-- |
|
22) Litigations that the firm / promoter
involved in |
-- |
|
23) Banking Details |
Yes |
|
24) Banking facility details |
Yes |
|
25) Conduct of the banking account |
-- |
|
26) Buyer visit details |
-- |
|
27) Financials, if provided |
Yes |
|
28) Incorporation details, if applicable |
Yes |
|
29) Last accounts filed at ROC |
Yes |
|
30) Major Shareholders, if available |
Yes |
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.53.34 |
|
|
1 |
Rs.86.09 |
|
Euro |
1 |
Rs.69.36 |
INFORMATION DETAILS
|
Information
Gathered by : |
PDT |
|
|
|
|
Report Prepared
by : |
PRL |
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 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--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 |
|
53 |
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.