|
Report Date : |
21.05.2012 |
IDENTIFICATION DETAILS
|
Name : |
OMEGA ROLLING MILLS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Plot No.J-75, MIDC, Tarapur Industrial Area, Boisar-401506, |
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Country : |
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|
|
|
|
Financials (as
on) : |
31.03.2011 |
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|
Date of
Incorporation : |
29.09.1987 |
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|
|
Com. Reg. No.: |
11-044819 |
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|
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Capital Investment
/ Paid-up Capital : |
Rs. 2.633 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U99999MH1987PTC044819 |
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|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMO02993E PNEO01496F |
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|
|
PAN No.: [Permanent Account No.] |
AAACO0568Q |
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|
Legal Form : |
Private Limited Liability Company |
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|
|
Line of Business
: |
Manufacturer and Exporter of Copper and Copper Alloy based products |
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|
|
|
No. of Employees
: |
120 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (47) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 180000 |
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|
|
|
Status : |
Satisfactory |
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|
|
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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 PARTED BY
|
Name : |
Mr. Bimal Shah |
|
Designation : |
Finance Head |
|
Contact No.: |
91-9323692207 |
|
Date : |
19.05.2012 |
LOCATIONS
|
Registered Office / Factroy : |
Plot No.J-75, MIDC, Tarapur Industrial Area, Boisar-401506,
Maharashtra, India |
|
Tel. No.: |
91-2525-320465 |
|
Mobile No.: |
91-9323692207 (Mr. Bimal Shah) |
|
Fax No.: |
91-2525-274995 |
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E-Mail : |
|
|
Website : |
|
|
Area : |
1700 Sq. Mtr. |
|
Location : |
Owned |
|
|
|
|
Marketing Office / Corporate Office : |
209, Gundecha Industrial Complex, Next of Big Bazaar, Akurli Road,
Kandivli (East), Mumbai-400101, Maharashtra, India |
|
Tel. No.: |
91-22-28464270 / 71 / 32551094 / 32551079 |
|
Fax No.: |
91-22-28858380 |
DIRECTORS
AS ON 30.09.2011
|
Name : |
Mr. Rajeshkumar Surendrakumar Agarwal |
|
Designation : |
Director |
|
Address : |
FL/C-701, Thakur Village, Oberoi Gardens-III, Off Western Express
Highway, Kandivali (East), Mumbai-400101, Maharashtra, India |
|
Date of Birth/Age : |
16.08.1972 |
|
Date of Appointment : |
31.03.2004 |
|
DIN No.: |
00121403 |
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|
|
|
Name : |
Mr. Rakesh Kumar Agarwal |
|
Designation : |
Director |
|
Address : |
FL.302, BL-M2, Ostwak Empire TPLG, Boisar, Thane-401501, Maharashtra,
India |
|
Date of Birth/Age : |
06.07.1975 |
|
Date of Appointment : |
05.05.2003 |
|
DIN No.: |
01829157 |
KEY EXECUTIVES
|
Name : |
Mr. Bimal Shah |
|
Designation : |
Finance Head |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2011
|
Names of Shareholders |
No. of Shares |
|
Laxminarayan Agarwal |
500 |
|
Sarihadevi Agarwal |
50 |
|
Rajeshkumar Surendrakumar Agarwal |
25775 |
|
Total |
26325 |
AS ON 30.09.2011
|
Equity Shares
Break Up |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Copper and Copper Alloy based products |
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|
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Exports : |
|
|
Products : |
Copper and Copper Alloy based products |
|
Countries : |
Saudi Arabia |
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Imports : |
|
|
Products : |
Raw Materials |
|
Countries : |
Dubai |
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Terms : |
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Selling : |
Cash and Credit |
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Purchasing : |
Cash and Credit |
PRODUCTION STATUS (AS ON 31.03.2011)
|
Particulars |
Unit |
Installed
Capacity |
Actual
Production |
|
|
|
|
|
|
Rolling |
MT |
18000 |
1053734 |
GENERAL INFORMATION
|
Suppliers : |
·
Hindalco Industries Limited |
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Customers : |
End Users ·
Athil Buyer Private Limited |
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No. of Employees : |
120 (Approximately) |
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Bankers : |
·
State Bank of India ·
ICICI Bank ·
Bank of Baroda, M. G. Road Branch, Mumbai-400001,
Maharashtra, India |
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Facilities : |
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Banking
Relations : |
-- |
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|
|
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Auditors : |
|
|
Name : |
S. S. Rathi and Company Chartered Accountant |
|
Address : |
401, Shree Shivdutta Apartment, Near Lalit Restaurant, Station Road,
Goregaon (West), Mumbai-400062, Maharashtra, India |
|
Pan No.: |
AAOFS2521C |
|
|
|
|
Company in which promoter have significant influence : |
·
Leebo Metals Private Limited ·
Usha Cubals Private Limited |
CAPITAL STRUCTURE
AS ON 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
40000 |
Equity Shares |
Rs.100/- each |
Rs. 4.000 Millions |
|
10000 |
12% Redeemable Cumulative Preference Shares |
Rs.100/- each |
Rs. 1.000 Million |
|
|
Total |
|
Rs. 5.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
26325 |
Equity Shares |
Rs.100/-
each |
Rs. 2.633
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 |
2.633 |
2.633 |
2.633 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
43.501 |
33.932 |
18.826 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
46.134 |
36.565 |
21.459 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
76.486 |
83.266 |
24.645 |
|
|
2] Unsecured Loans |
1.578 |
6.885 |
6.896 |
|
|
TOTAL BORROWING |
78.064 |
90.151 |
31.541 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
124.198 |
126.716 |
53.000 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
5.173 |
5.328 |
5.772 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.124 |
1.463 |
0.361 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
34.989
|
51.552 |
23.300 |
|
|
Sundry Debtors |
79.117
|
51.265 |
15.232 |
|
|
Cash & Bank Balances |
8.908
|
19.535 |
2.940 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
28.298
|
31.360 |
16.893 |
|
Total
Current Assets |
151.312
|
153.712 |
58.365 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
18.666
|
13.291 |
5.615 |
|
|
Other Current Liabilities |
0.695
|
12.046 |
4.053 |
|
|
Provisions |
13.050
|
8.450 |
1.830 |
|
Total
Current Liabilities |
32.411
|
33.787 |
11.498 |
|
|
Net Current Assets |
118.901
|
119.925 |
46.867 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
124.198 |
126.716 |
53.000 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
541.580 |
419.861 |
194.874 |
|
|
|
Other Income |
14.428 |
16.325 |
19.180 |
|
|
|
TOTAL (A) |
556.008 |
436.186 |
214.054 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Raw Material Consumed |
492.963 |
368.691 |
174.709 |
|
|
|
Employees Cost |
11.020 |
9.099 |
6.216 |
|
|
|
Manufacturing and Direct Expenses |
25.278 |
21.623 |
19.750 |
|
|
|
Administrative Expenses |
6.212 |
6.221 |
4.122 |
|
|
|
Loss from Strading |
0.000 |
0.751 |
0.000 |
|
|
|
Loss from MCX |
0.000 |
0.248 |
0.000 |
|
|
|
Loss on Sale of Assets |
0.000 |
0.005 |
0.000 |
|
|
|
Increase / Decrease in Stock |
0.000 |
0.075 |
3.288 |
|
|
|
TOTAL (B) |
535.473 |
406.713 |
208.085 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
20.535 |
29.473 |
5.969 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
3.959 |
4.550 |
3.371 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
16.576 |
24.923 |
2.598 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
1.068 |
1.266 |
1.368 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
15.508 |
23.657 |
1.230 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
5.939 |
7.348 |
0.535 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
9.569 |
16.309 |
0.695 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
28.772 |
13.667 |
12.972 |
|
|
|
|
|
|
|
|
|
Less |
SHORT PROVISION
OF TAX FOR EARLIER YEARS |
0.000 |
1.204 |
0.000 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
38.341 |
28.772 |
13.667 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Manufacturing |
61.774 |
72.412 |
25.250 |
|
|
|
Trading |
84.176 |
48.599 |
0.000 |
|
|
TOTAL IMPORTS |
145.950 |
121.011 |
25.250 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
363.48 |
573.82 |
26.40 |
|
|
Particulars |
|
|
31.03.2012 |
|
Sales Turnover (Approximately) |
|
|
630.000 |
|
|
|
|
|
Expected Sales (2012-2013) : Rs. 800.000 Millions
The above information has been parted by Mr. Bimal Shah.
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
1.72
|
3.74 |
0.32 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
2.86
|
5.63 |
0.63 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
9.90
|
14.74 |
1.91 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.34
|
0.65 |
0.06 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
2.39
|
3.39 |
2.01 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
4.67
|
4.55 |
5.08 |
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 |
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 |
Yes |
|
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 |
Yes |
|
21. Market information |
------ |
|
22. Litigations that the firm / promoter involved |
------ |
|
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 |
SUNDRY CREDITORS
DETAILS
(Rs.
In Millions)
|
Particulars |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
Sundry Creditors
|
|
|
|
|
From Goods |
14.850 |
8.658 |
4.906 |
|
From Expenses |
1.544 |
1.395 |
0.709 |
|
From Others |
2.272 |
3.238 |
0.000 |
|
Total |
18.666 |
13.291 |
5.615 |
NOTES
Registered office has been shifted from Pereira Land Building, 2nd
Floor, Safel Peol, Kurla Andheri Road, Mumbai-400072, Maharashtra, India to the
present address w.e.f.20.10.2009.
OPERATIONS
The Directors wish to inform that the actual production of the company
is going on smoothly as per schedule and the Board of Directors are taking all
round steps to increase the production from its exiting level.
TRADE REFERENCES
· Hindalco Industries Limited
·
Athil Buyer Private Limited
FIXED ASSETS
·
Air Conditioner
·
Building
·
Flat
·
Computer
·
Electrical Installation
·
Factory Equipment
·
Furniture and Fixture
·
Office Equipments
·
Plant and Machinery
·
Mobile
·
Testing Equipments
·
Vehicles
·
Cycle
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. 54.87 |
|
|
1 |
Rs. 86.46 |
|
Euro |
1 |
Rs. 69.48 |
INFORMATION DETAILS
|
Information
Gathered by : |
DPT |
|
|
|
|
Report Prepared
by : |
SVA |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
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 |
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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
47 |
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.