|
Report Date : |
01.11.2012 |
IDENTIFICATION DETAILS
|
Name : |
SHAH BROTHERS ISPAT PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
5A/5B, Trust
House, Dr. E Broges Road, Opposite Shirodkar High School, Parel (East),
Mumbai – 400012, Maharashtra |
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|
|
|
Country : |
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|
|
|
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Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
04.08.2004 |
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|
|
|
Com. Reg. No.: |
11-147842 |
|
|
|
|
Capital
Investment/ Paid-up Capital: |
Rs.14.350 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U27101MH2004PTC147842 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMS45609E |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAAFS1089F |
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|
|
|
Legal Form : |
Private Limited Liability Company |
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|
|
|
Line of Business
: |
Trader, Exporter and Importer of Ferrous and Non Ferrous
Metals. |
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|
|
|
No. of
Employees: |
80 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (36) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 4860000 |
|
|
|
|
Status : |
Moderate |
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|
|
|
Payment Behaviour : |
Unknown |
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|
|
|
Litigation : |
Clear |
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|
|
Comments : |
Subject is an established company having moderate track record. The
Current year financial is missing from the government department. However,
from the previous year track record, company appears to be having good track record.
Trade relations are reported to be fair. Business is active. Payments are
reported be unknown. The company can be considered for business dealing with slight caution
. Latest profit and loss of the company is not available |
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 – June 30, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
|
Source
: CIA |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
|
Rating |
BB+(Long Term Bank Facilities) |
|
Rating Explanation |
Having moderate risk of default regarding
timely servicing of financial obligation
|
|
Date |
September 2012 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’’ LIST STATUS
Subject’s name is not enlisted as a defaulter in
the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
LOCATIONS
|
Registered Office/Factory : |
5A/5B, Trust
House, Dr. E Broges Road, Opposite Shirodkar High School, Parel (East), Mumbai
– 400012, Maharashtra, India |
|
Tel. No.: |
91-22-23445445 / 6 / 3 / 23480445 [5 Lines]/ 40555444 |
|
Fax No.: |
91-22-23436928 / 23486928/
40555454 |
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E-Mail : |
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|
Web Site: |
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|
Location: |
Leased |
|
|
|
|
Warehouse 1 : |
L-5 Taloja Industrial Area, MIDC, Taluka- Panvel, District – Raigad, |
|
Location: |
Owned |
|
|
|
|
Warehouse 2 : |
1425/1426/1427 Kalamboli Warehouse Complex, Kalamboili, Navi Mumbai –
410 218, |
|
Location: |
Owned |
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|
|
|
Branch Office : |
Located At:
|
DIRECTORS
As on 29.09.2012
|
Name : |
Mr. Rajesh Chinubhai Shah |
||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Director |
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|
Address : |
31, Anupam, 11, |
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|
Date of Birth/Age : |
10.07.1965 |
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|
Qualification : |
B.Com |
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|
Date of Appointment : |
04.08.2004 |
||||||||||||||||||||||||||||||||||||||||
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DIN No.: |
00022645 |
||||||||||||||||||||||||||||||||||||||||
|
Other Directorship:
|
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|
||||||||||||||||||||||||||||||||||||||||
|
Name : |
Mr. Sanjiv Pravin Mehta |
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|
Designation : |
Director |
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|
Address : |
15, Nirmal Mahal, Bomanji Petit Road, Mumbai 400026, |
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|
Date of Birth/Age : |
14.12.1963 |
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|
Qualification : |
B.Com |
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|
Date of Appointment : |
04.08.2004 |
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DIN No.: |
00022691 |
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Other Directorship:
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||||||||||||||||||||||||||||||||||||||||
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Name : |
Mr. Chinubhai Himmatlal Shah |
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|
Designation : |
Director |
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|
Address : |
Flat No.13/3,
Anupam, |
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|
Date of Birth/Age : |
13.03.1936 |
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Qualification : |
SSC |
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|
Date of Appointment : |
04.08.2006 |
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DIN No.: |
00022747 |
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Other Directorship:
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|
||||||||||||||||||||||||||||||||||||||||
|
Name : |
Mr. Pravin Pranlal Mehta |
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|
Designation : |
Director |
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|
Address : |
15, Nirmal Mahal, Bomanji Petit Road, Mumbai 400026, |
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Date of Birth/Age : |
31.08.1935 |
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Qualification : |
SSC |
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|
Date of Appointment : |
04.08.2004 |
||||||||||||||||||||||||||||||||||||||||
|
DIN No.: |
00026803 |
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Other Directorship:
|
|||||||||||||||||||||||||||||||||||||||||
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|
||||||||||||||||||||||||||||||||||||||||
|
Name : |
Mr. Dharmesh Chinubhai Shah |
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|
Designation : |
Director |
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|
Address : |
1-A/1, Giriraj, 11, |
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|
Date of Birth/Age : |
25.06.1964 |
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Qualification : |
B.Com |
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|
Date of Appointment : |
04.08.2004 |
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DIN No.: |
00038177 |
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Other Directorship:
|
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MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 29.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
Chinubhai Himmatlal Shah Jointly Manjuben C
Shah Jointly Dharmesh C Shah |
|
72000 |
|
Chinubhai Himmatlal Shah Jointly Manjuben C
Shah Jointly Dharmesh C Shah |
|
72000 |
|
Pravin Pranlal Mehta Jointly Ranjanbala
Mehta Jointly Sanjiv Mehta |
|
215250 |
|
Sanjiv Pravin Mehta Jointly Heena Mehta |
|
257000 |
|
Dharmesh Chinubhai Shah Jointly Sangeeta
Shah |
|
243950 |
|
Rajesh Chinubhai Shah Jointly Minal Shah |
|
243950 |
|
Ranjanbala Pravin Mehta Jointly Pravin P
Mehta Jointly Sanjiv P Mehta |
|
80000 |
|
Heena Sanjiv Mehta Jointly Sanjiv P Mehta |
|
143500 |
|
Pravin P Mehta HUF through its Karta Pravin
P Mehta |
|
10000 |
|
Ranjanbala P. Mehta Jointly Pravin P. Mehta |
|
11750 |
|
Chinubhai H. Shah Jointly. Manjula C. Shah |
|
85600 |
|
|
|
|
|
Total |
|
1435000 |
Equity Share Break up (Percentage of Total Equity)
As on 29.09.2012
|
Category |
|
Percentage |
|
|
|
|
|
Directors or relatives of directors |
|
100.00 |
|
|
|
|
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Trader, Exporter and Importer of Ferrous and Non Ferrous
Metals. |
|
|
|
|
Products : |
· Ferrous · Non - Ferrous Metal · Boiler Quality Plates · High Tensile Steel Plate · Alloy Steel Plate · Mild Steel Products · HR Coils |
GENERAL INFORMATION
|
No. of Employees : |
80 (Approximately) |
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Bankers : |
v
Union
Bank of v
Bank
of v
Bank
of v ICICI Bank v Central Bank of
India, Corporate Finance Branch, 1st Floor, M.M.O Building, M G
Road, Fort, Mumbai-400 023, Maharashtra, India v Standard Chartered Bank, 23-25 M G Road, Mumbai -400 001, v Bank of v ABN Amro Bank, N.V, 74 Sakhar Bhavan, 7th
Floor, Nariman Point, Mumbai-400021, |
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|
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Facilities : |
|
||||||||||||||||||||||||
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|
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Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
H M Mody and Company Chartered Accountants |
|
Address : |
12, |
|
Tel. No.: |
91-22-22046924 |
|
Mobile No.: |
91-22-22873255 |
|
PAN.: |
AGBPM4701B |
|
|
|
|
Related Parties : |
· Peace Fort Chemind Engineering Private Limited CIN No.:U74999MH1971PTC015360 · Meshco Steels |
CAPITAL STRUCTURE
As on 29.09.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1500000 |
Equity Shares |
Rs.10/- each |
Rs.15.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1435000 |
Equity Shares |
Rs.10/- each |
Rs.14.350
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 |
14.350 |
9.000 |
9.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
1200.815 |
634.591 |
179.903 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
1215.165 |
643.591 |
188.903 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
241.311 |
261.564 |
399.062 |
|
|
2] Unsecured Loans |
45.831 |
187.500 |
213.125 |
|
|
TOTAL BORROWING |
287.142 |
449.064 |
612.187 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
1.472 |
1.142 |
|
|
|
|
|
|
|
|
TOTAL |
1502.307 |
1094.127 |
802.232 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
409.503 |
295.945 |
56.278 |
|
|
Capital work-in-progress |
1.660 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
25.686 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
1938.672
|
1241.357
|
1420.313 |
|
|
Sundry Debtors |
1896.753
|
2291.042
|
1383.610 |
|
|
Cash & Bank Balances |
525.343
|
603.147
|
341.788 |
|
|
Other Current Assets |
0.000
|
0.000
|
0.000 |
|
|
Loans & Advances |
195.407
|
386.334
|
404.565 |
|
Total
Current Assets |
4556.175
|
4521.880 |
3550.276 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
3118.233
|
3152.059 |
|
|
|
Other Current Liabilities |
282.687
|
407.836
|
2535.550 |
|
|
Provisions |
89.797
|
163.803
|
268.808 |
|
Total
Current Liabilities |
3490.717
|
3723.698
|
2804.358 |
|
|
Net Current Assets |
1065.458
|
798.182
|
745.918 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.036 |
|
|
|
|
|
|
|
|
TOTAL |
1502.307 |
1094.127 |
802.232 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
7851.491 |
10199.047 |
|
|
|
Other Income |
|
334.609 |
263.128 |
|
|
|
TOTAL (A) |
|
8186.100 |
10462.175 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of sales |
|
7442.329 |
9127.590 |
|
|
|
Administration and other expenses |
|
189.477 |
950.012 |
|
|
|
Preliminary expenses written off |
|
0.036 |
0.000 |
|
|
|
Increase / decrease in stock |
|
178.956 |
911.274 |
|
|
|
TOTAL (B) |
|
7810.798 |
10988.876 |
|
|
|
|
|
|
|
|
Less |
PROFIT/(LOSS)
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
|
375.302 |
(526.701) |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
|
109.022 |
77.021 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
|
266.280 |
(603.722) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/ AMORTISATION (F) |
|
6.518 |
5.196 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX (E-F) (G) |
|
259.762 |
(608.918) |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
|
40.074 |
0.039 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS) AFTER TAX (G-H) (I) |
|
219.688 |
(608.957) |
|
|
|
|
|
|
|
|
|
|
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
|
0.000 |
552.873 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
|
219.688 |
0.014 |
|
|
|
|
|
|
|
|
|
|
Earnings/(loss) Per Share (Rs.) |
|
244.10 |
NA |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
NA
|
2.68
|
(5.82) |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
NA
|
3.31 |
(5.97) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
NA
|
5.39
|
(16.88) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
NA
|
0.40
|
3.22 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
3.11
|
6.48
|
18.09 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.31
|
1.21
|
1.26 |
LOCAL AGENCY FURTHER INFORMATION
|
Available
in Report [Yes/No] |
|
|
Year
of Establishment |
Yes |
|
Locality
of the Firm |
Yes |
|
Constitution
of the firm |
Yes |
|
Premises
details |
No |
|
Type
of Business |
Yes |
|
Line
of Business |
Yes |
|
Promoters
background |
Yes |
|
No.
of Employees |
Yes |
|
Name
of Person Contacted |
No |
|
Designation
of contact person |
No |
|
Turnover
of firm for last two years |
Yes |
|
Profitability
for last two years |
Yes |
|
Reasons
for variation <> 20% |
- |
|
Estimation
for coming financial year |
No |
|
Capital
the business |
Yes |
|
Details
of sister concerns |
Yes |
|
Major
Suppliers |
No |
|
Major
Customers |
No |
|
Payment
Terms |
No |
|
Export
/ Import Details [If Applicable] |
No |
|
Market
Information |
- |
|
Litigations
that the firm / promoter involved in |
- |
|
Banking
Details |
Yes |
|
Banking
Facility Details |
Yes |
|
Conduct
of the banking account |
- |
|
Buyer
visit details |
- |
|
Financials,
if provided |
Yes |
|
Incorporation
details, if applicable |
Yes |
|
Last
accounts filed at ROC |
Yes |
|
Major
Shareholders, if applicable |
Yes |
|
Date of Birth of Proprietor/Partner/Director,
if available |
Yes |
|
PAN
of Proprietor/Partner/Director, if available |
No |
|
Voter
ID No of Proprietor/Partner/Director, if available |
No |
|
External Agency
Rating, if available |
Yes |
NOTE: The Registered Office has been shifted from 406, Giriraj,
FORM 8
|
Corporate
identity number of the company |
U27101MH2004PTC147842 |
|
Name of the
company |
SHAH BROTHERS
ISPAT PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
406, Giriraj, Email: sales@sbispat.com |
|
This form is for |
Modification of
charge |
|
Charge
identification (ID) number of the charge to be modified |
80007073 |
|
Type of charge |
|
|
Particular of
charge holder |
Central Bank of India, Corporate Finance Branch, 1st Floor,
M.M.O Building, M G Road, Fort, Mumbai-400 023, Maharashtra, India. Email: dgmcfb3007@centralbank.co.in
|
|
Nature of
instrument creating charge |
Deed of
Hypothecation |
|
Date of
instrument Creating the charge |
18.06.2012 |
|
Amount secured by
the charge |
Rs.1200 Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Terms of Repayment Limits are
subject to review from time to time and are repayable on Demand. Extent and Operation of the charge The charge is to
operate as a security for the due repayment of total Working capital
Facilities of Rs. 226.000 Millions availed or to be availed by the Company
together with interest, penal interest, cost, charges, commissions, expenses,
fees, penalty, dues and all other monies payable by the Company to the Bank
in terms of the sanction of said limit from time to time. Others All other Terms
and Conditions are as per facility
Documents executed and entered into by the Company with Bank from time to
time and as per Sanction Letter of Bank. |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
First pari passu
charge on whole of the Borrower's Current Assets including stocks, book
debts, receivables, claims, refund and all other movables, both present and
future. First pari passu
charge on whole of the Borrower's Movable Fixed Assets, both present and
future including movable plant and machinery, equipments, tools, spares,
accessories etc. |
CONTINGENT
LIABILITIES
As on 31.03.2011
Contingent Liabilities not provided for Letters of Credit Issued by Bankers Rs.3600.800 Millions Less: Margin Money Rs.462.626 Millions (Net of Margin Money with Bankers) Rs.3138.174 Millions
FIXED
ASSETS
v
v Computer
v Furniture and Fixture
v Office Equipment
v Motor Car
v Godown
v 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 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.54.12 |
|
|
1 |
Rs.87.08 |
|
Euro |
1 |
Rs.70.15 |
INFORMATION DETAILS
|
Report Prepared
by : |
BYI |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
4 |
|
--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 |
|
36 |
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.