MIRA
INFORM REPORT
|
Report Date : |
08.11.2012 |
IDENTIFICATION DETAILS
|
Name : |
DMSON’S METAL PRIVATE LIMITED |
|
|
|
|
Registered Office : |
502, |
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Country : |
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|
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|
Financials (as on) : |
31.03.2011 |
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|
|
Date of Incorporation : |
18.05.2007 |
|
|
|
|
Capital Investment / Paid-up Capital : |
Rs.48.100 millions |
|
|
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Com. Reg. No.: |
11-170928 |
|
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|
CIN No.: [Company
Identification No.] |
U27109MH2007PTC170928 |
|
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|
|
PAN No.: [Permanent
Account No.] |
AACCD6037D |
|
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|
Legal Form : |
Private Limited Liability Company |
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|
|
Line of Business : |
Importer and Suppliers of Steel Plates |
|
|
|
|
No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (46) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 1300000 |
|
|
|
|
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. Latest financials
i.e. 2011-2012 are missing from the government department. However, from the
available financial the company seems to have 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.
INDIAN ECONOMIC OVERVIEW
India is developing into an open-market economy, yet traces
of its past autarkic policies remain. Economic liberalization, including
industrial deregulation, privatization of state-owned enterprises, and reduced
controls on foreign trade and investment, began in the early 1990s and has
served to accelerate the country's growth, which has averaged more than 7% per
year since 1997. India's diverse economy encompasses traditional village
farming, modern agriculture, handicrafts, a wide range of modern industries,
and a multitude of services. Slightly more than half of the work force is in
agriculture, but services are the major source of economic growth, accounting for
more than half of India's output, with only one-third of its labor force. India
has capitalized on its large educated English-speaking population to become a
major exporter of information technology services and software workers. In
2010, the Indian economy rebounded robustly from the global financial crisis -
in large part because of strong domestic demand - and growth exceeded 8%
year-on-year in real terms. However, India's economic growth in 2011 slowed
because of persistently high inflation and interest rates and little progress
on economic reforms. High international crude prices have exacerbated the
government's fuel subsidy expenditures contributing to a higher fiscal deficit,
and a worsening current account deficit. Little economic reform took place in
2011 largely due to corruption scandals that have slowed legislative work.
India's medium-term growth outlook is positive due to a young population and
corresponding low dependency ratio, healthy savings and investment rates, and
increasing integration into the global economy. India has many long-term
challenges that it has not yet fully addressed, including widespread poverty,
inadequate physical and social infrastructure, limited non-agricultural
employment opportunities, scarce access to quality basic and higher education,
and accommodating rural-to-urban migration.
|
Source
: CIA |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
LONG TERM RATING : CRISIL BBB- |
|
Rating Explanation |
Moderate degree of safety it carry moderate credit risk |
|
Date |
29 October, 2012 |
|
Rating Agency Name |
CRISIL |
|
Rating |
SHORT TERM RATING : CRISIL A3 |
|
Rating Explanation |
Moderate degree of safety it carry higher credit risk |
|
Date |
29 October, 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.
INFORMATION DECLINED BY
|
Name : |
Mr. Deepak K. Mehta |
|
Designation : |
Director |
|
Contact No.: |
91-9821012040 |
|
Date : |
08.11.2012 |
LOCATIONS
|
Registered Office / Corporate Office : |
502, Peninsula Heights, Juhu Lane, Near BMW Showroom, CTS. No.557
1/2/3, Andheri (West), Mumbai – 400058, Maharashtra, India |
|
Tel. No.: |
91-22-26702052 / 53 / 54 |
|
Mobile No.: |
91-9821012040 (Mr. Deepak K. Mehta) |
|
Fax No.: |
91-22-26702051 |
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E-Mail : |
|
|
Website : |
DIRECTORS
As on 31.08.2012
|
Name : |
Mr. Kakubhai Purushottam Mehta |
|
Designation : |
Director |
|
Address : |
Flat No 401, Manju Castle Building, Church Road, Vile Parle (West),
Mumbai – 400 056, Maharashtra, India |
|
Date of Birth/Age : |
01.04.1935 |
|
Qualification: |
S.S.C. |
|
Date of Appointment : |
18.05.2007 |
|
DIN No.: |
01648156 |
|
|
|
|
Name : |
Mr. Deepak Kakubhai Mehta |
|
Designation : |
Director |
|
Address : |
7/ A, Puspham, K.D. Road, Next to Hotel Rasraj, Juhu, Vile Parle
(West), Mumbai – 400 056, Maharashtra, India |
|
Date of Birth/Age : |
15.05.1966 |
|
Qualification: |
B. Com |
|
Date of Appointment : |
18.05.2007 |
|
DIN No.: |
00326874 |
|
|
|
|
Name : |
Mrs. Urvi Deepak Mehta |
|
Designation : |
Director |
|
Address : |
7/ A, Puspham, K.D. Road, Next to Hotel Rasraj, Juhu, Vile Parle
(West), Mumbai – 400 056, Maharashtra, India |
|
Date of Birth/Age : |
04.02.1971 |
|
Qualification: |
Home Science |
|
Date of Appointment : |
03.10.2011 |
|
DIN No.: |
03464542 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 31.08.2012
|
Names of Shareholders |
|
No. of Shares |
|
Kakubhai Purushottam Mehta |
|
5000 |
|
Deepak Kakubhai Mehta |
|
3390000 |
|
Kakubhai Purushottam Mehta (HUF) |
|
5000 |
|
Deepak Kakubhai Mehta (HUF) |
|
500000 |
|
Vasumati Kakubhai Mehta |
|
5000 |
|
Urvi Deepak Mehta |
|
900000 |
|
Pranit Deepak Mehta |
|
5000 |
|
V. K. Industrial Corporation Limited, India |
|
240000 |
|
Total |
|
5050000 |
Equity Share Break up (Percentage of Total Equity)
As on 31.08.2012
|
Category |
|
Percentage of Holding |
|
Bodies
corporate |
|
4.75 |
|
Directors
or relatives of directors |
|
85.25 |
|
Other top fifty shareholders |
|
10.00 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Importer and Suppliers of Steel Plates |
|
|
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|
Products : |
· Pressure Vessel Steel Plates · High Tensile Steel Plates · Ship Building Steel Plates · Steel Plates For Oil and Gaslines · Mild Steel Plates · Alloy Steel Plates · Hot Rolled Coils · Special Quality Steel Plates · Boiler Quality Plates |
GENERAL INFORMATION
|
No. of Employees
: |
Information declined by the management |
|
|
|
|
Bankers : |
Standard Chartered Bank, SME Credit, 23-25, |
|
Facilities : |
Notes: (A) Bank overdraft (secured against FD with bank) HSBC Bank Rs.19.880 Millions ICICI Bank Limited (CC A/c. No.039351000087) Rs.5.600 Millions ICICI Bank A/c.057405000777 28 (B) Bank overdraft (secured against FD with bank) HSBC Bank Rs.6.156 Millions
Notes: (A) and (B) Loan from Directors and Shareholders (C) Loan from Relative and Other |
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Banking
Relations : |
-- |
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Auditors : |
|
|
Name : |
Nilesh P. Parikh and Company Chartered Accountants |
|
Address : |
501, Nain Krupa,118/122, Kazi Sayed Street , Mumbai -400003, Maharashtra, India |
|
PAN No.: |
ABIPP5585E |
CAPITAL STRUCTURE
As on 31.08.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000000 |
Equity Shares |
Rs.10/- each |
Rs.100.000 millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5050000 |
Equity Shares |
Rs.10/- each |
Rs.50.500
Millions |
As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000000 |
Equity Shares |
Rs.10/- each |
Rs.100.000 millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4810000 |
Equity Shares |
Rs.10/- each |
Rs.48.100
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 |
48.100 |
48.100 |
48.100 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
267.347 |
196.536 |
167.251 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
315.447 |
244.636 |
215.351 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
25.480 |
6.156 |
19.383 |
|
|
2] Unsecured Loans |
33.278 |
29.269 |
25.500 |
|
|
TOTAL BORROWING |
58.758 |
35.425 |
44.883 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
374.205 |
280.061 |
260.234 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
2.271 |
0.293 |
0.040 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.001 |
0.001 |
0.001 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
276.726
|
98.969 |
172.670 |
|
|
Sundry Debtors |
401.740
|
159.859 |
112.783 |
|
|
Cash & Bank Balances |
41.283
|
57.375 |
0.169 |
|
|
Other Current Assets |
20.059
|
17.671 |
1.325 |
|
|
Loans & Advances |
186.438
|
144.003 |
32.646 |
|
Total
Current Assets |
926.246
|
477.877 |
319.593 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry creditors |
514.837 |
182.581 |
|
|
|
Other Current Liabilities |
3.259
|
0.970 |
|
|
|
Provisions |
36.402
|
14.919 |
0.812 |
|
Total
Current Liabilities |
554.498
|
198.470 |
59.936 |
|
|
Net Current Assets |
371.747
|
279.407 |
259.657 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.185 |
0.360 |
0.536 |
|
|
|
|
|
|
|
|
TOTAL |
374.205 |
280.061 |
260.234 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Turnover |
2109.962 |
1294.645 |
965.434 (Sales) |
|
|
|
Other Income |
NA |
10.475 |
NA |
|
|
|
TOTAL |
NA |
1305.120 |
NA |
|
|
|
|
|
|
|
|
|
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
230.131 |
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
230.131 |
1254.690 |
NA |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
NA |
50.430 |
10.702 |
|
|
|
|
|
|
|
|
|
|
FINANCIAL
EXPENSES |
NA |
6.185 |
8.813 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
NA |
44.245 |
1.889 |
|
|
|
|
|
|
|
|
|
|
DEPRECIATION/
AMORTISATION |
NA |
0.058 |
0.013 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
107.345 |
44.187 |
0.271 |
|
|
|
|
|
|
|
|
|
|
TAX |
36.118 |
14.902 |
NA |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
71.227 |
29.285 |
NA |
|
|
|
|
|
|
|
|
|
|
TOTAL IMPORTS |
NA |
611.218 |
473.977 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
14.81 |
6.09 |
|
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
NA
|
2.24 |
NA |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
NA
|
3.41 |
0.03 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
11.56
|
9.24 |
0.08 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.34
|
0.18 |
0.00 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.94
|
0.96 |
0.49 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.67
|
2.41 |
5.33 |
LOCAL AGENCY FURTHER INFORMATION
SUNDRY CREDITOR
DETAILS
(Rs.
In Millions)
|
Particulars
|
31.03.2011 |
31.03.2010 |
31.03.2010 |
|
Sundry
Credit |
|
|
|
|
- Small Micro Enterprises |
0.000 |
0.000 |
Not Available |
|
- Others |
514.837 |
182.581 |
|
|
Total |
514.837 |
182.581 |
Not
Available |
|
Sr. No. |
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 |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
No |
|
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 |
No |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
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 |
No |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of
Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
FINANCIAL RESULTS:
During the year the company earned a net profit before tax
Rs.107.345 millions.
BANKERS CHARGES
REPORT AS PER REGISTRY
|
This form is for |
Modification of
charge |
|
Charge
identification number of the modified |
10070577 |
|
Corporate
identity number of the company |
U27109MH2007PTC170928 |
|
Name of the
company |
DMSON’S METAL PRIVATE LIMITED |
|
Address of the registered
office or of the principal place of
business in |
502, Peninsula Heights, Juhu Lane, Near BMW Showroom, CTS. No.557
1/2/3, Andheri (West), Mumbai – 400058, Maharashtra, India E-mail Id : dm.dmsons@gmail.com
|
|
Type of charge |
Book Debts Movable Property Floating Charge |
|
Particular of
charge holder |
Standard Chartered Bank, SME Credit, 23-25, E-Mail: sme.form8@sc.com |
|
Nature of
description of the instrument creating or modifying the charge |
Hypothecation
Agreement (Supplemental) |
|
Date of
instrument Creating the charge |
03.09.2012 |
|
Amount secured by
the charge |
Rs.400.000
Millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest As agreed by and
with the Bank from time to time. Terms of
Repayment As agreed by and
with the Bank from time to time. Margin As applicable, if
any. Extent and
Operation of the charge The Bank is
having pari passu charge with HSBC and ICICI Bank on the security given by
the company. |
|
Short particulars
of the property charged |
Pari passu charge
with HSBC and ICICI Bank on Hypothecation by way of first and exclusive
charge on: a) all the stock in trade both present and future consisting of
raw materials, finished goods, goods in process of manufacturing and other
merchandise b) all the present and future book debts, outstanding moneys
receivable, claims and bills. |
|
Date of latest
modification prior to the present modification |
24.04.2010 |
|
Particulars of
the present modification |
The existing
charge amt of Rs.360.000 Millions enhanced to Rs.400.000 Millions due to
reduction of Rs.40.000 Millions of LER Limits and additional enhancement of
Rs.80.000 Millions facility and is secured as pari passu charge with HSBC and
ICICI Bank on Hypothecation by way of first and exclusive charge on: a) all the
stock in trade both present and future consisting of raw materials, finished
goods.....b) all the present and future book debts, outstanding moneys
receivable, claims and bills. |
FIXED ASSETS:
·
Office Equipments
·
Computer Equipments
·
Furniture and Fixtures
·
Motor Vehicles
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.54.25 |
|
|
1 |
Rs.87.00 |
|
Euro |
1 |
Rs.69.83 |
INFORMATION DETAILS
|
Information
Gathered by : |
PJA |
|
|
|
|
Report Prepared
by : |
BSN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--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 |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
46 |
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.