|
Report Date : |
08.11.2012 |
IDENTIFICATION DETAILS
|
Name : |
SVP PACKING INDUSTRY PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
4, Guru Krupa, 1st Floor, 514/22, S V P Road, Opera House,
Mumbai - 400004, Maharashtra |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
27.03.2000 |
|
|
|
|
Com. Reg. No.: |
11-125361 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs. 2.135 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U25206MH2000PTC125361 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMS46953E |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacture of Magic Seal Bags (Reclosable Bags) Zipper Profiles |
|
|
|
|
No. of Employees
: |
150 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 260000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track. Latest
financial i.e. 2011-12 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 commitment 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 |
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 DENIED BY
|
Name : |
Ms. Sujata |
|
Designation : |
Accounts Manager |
|
Contact No.: |
91-22-66351516 |
|
Date : |
07.11.2012 |
LOCATIONS
|
Registered Office : |
4, Guru Krupa, 1st Floor, 514/22, S V P Road, Opera House,
Mumbai - 400004, Maharashtra, India |
|
Tel. No.: |
91-22-66351516 / 66351517/24945116/24945117 |
|
Mobile No.: |
91-22-66351516 (Ms. Sujata) |
|
Fax No.: |
91-22-23888652 / 24945118 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Head Office : |
Unit No.21, 2nd Floor, Mahalaxmi Industrial Estate, Dainik Shivner
Road, Gandhinagar, Lower Parel (West), Mumbai - 400013, Maharashtra, India |
|
|
|
|
Factory : |
Plot No. 60-62, Village Waliv Vasai (East), District Thane – 401208,
Maharashtra, India |
DIRECTORS
As on: 30.09.2011
|
Name : |
Mr. Chhotalal Velji Shah |
|
Designation : |
Director |
|
Address : |
B-303, Shreeji Ville, Opposite Nitin Casting Company, Dr. Almeida
Road, Panchpakadi, Thane - 400602, Maharashtra, India |
|
Date of Birth/Age : |
03.07.1951 |
|
Date of Appointment : |
09.05.2008 |
|
DIN No.: |
00896974 |
|
|
|
|
Name : |
Mr. Pradip Ramanlal Shah |
|
Designation : |
Chairman |
|
Address : |
4, Guru Krupa, 514/22, SVP Road, Mumbai - 400004, Maharashtra, India |
|
Date of Birth/Age : |
15.01.1941 |
|
Date of Appointment : |
27.03.2000 |
|
DIN No.: |
01960775 |
|
|
|
|
Name : |
Mr. Saunil Bipin Shah |
|
Designation : |
Director |
|
Address : |
4, Guru Krupa, 514/22, SVP Road, Mumbai - 400004, Maharashtra, India |
|
Date of Birth/Age : |
02.12.1959 |
|
Date of Appointment : |
27.03.2000 |
|
DIN No.: |
01960798 |
|
|
|
|
Name : |
Mr. Jitendra Ratilal Shah |
|
Designation : |
Director |
|
Address : |
B-102, Sharda Mandir, Manav Mandir Complex, Ambodi Road, Vasai (West),
Thane, Maharashtra, India |
|
Date of Birth/Age : |
05.08.1952 |
|
Date of Appointment : |
15.11.2002 |
|
DIN No.: |
01960833 |
KEY EXECUTIVES
|
Name : |
Ms. Sujata |
|
Designation : |
Accounts Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 30.09.2011
|
Names of Shareholders |
No. of Shares |
|
Pradip Ramanlal Shah jointly with Bipin Ramanlal Shah and Saunil Bipin Shah |
41499 |
|
Sudha Pradip Shah jointly with Bipin Ramanlal Shah and Saunil Bipin
Shah |
500 |
|
Bharati Bipin Shah jointly with Bipin Ramanlal Shah and Saunil Bipin
Shah |
19450 |
|
Saunil Bipin Shah jointly with Bipin Ramanlal Shah |
63950 |
|
Jitendra Ratilal Shah jointly with Meena Jitendra Shah and Kapil
Jitendra Shah |
13340 |
|
Sudha Pradip Shah jointly with Pradip Ramanlal Shah and Saunil Bipin
Shah |
41400 |
|
Chhotalal Velji Shah jointly with Indu Chhotalal Shah |
16824 |
|
Indu Chhotalal Shah jointly with Chhotalal Velji Shah |
16336 |
|
Viral Chhotalal Shah jointly with Rashmi Viral Shah |
100 |
|
Rashmi Vira Shah jointly with Viral Shah |
100 |
|
Pradip Ramanlal Shah jointly with Bipin Ramanlal Shah and
Virendra H. Shah |
001 |
|
Total
|
213500 |
Equity Share Break up (Percentage of Total Equity)
As on: 30.09.2011
|
Category |
|
Percentage |
|
|
|
|
|
Directors or relatives of directors |
|
100.00 |
|
|
|
|
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacture of Magic Seal Bags (Reclosable Bags) Zipper Profiles. |
|
|
|
|
Products : |
·
PE Zipper Bags ·
PE and PP Zipper Profiles ·
PE and PP Attached Zipper Bag ·
PE and PP
Sliders Bags |
GENERAL INFORMATION
|
No. of Employees : |
150 (Approximately) |
||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||
|
Bankers : |
|
||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||
|
Facilities : |
(Rs.
In Millions)
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Narendra Bhat Chartered Accountant |
|
Address : |
2, 2nd Floor, Asgar Manzil, 49, Janmabhoomi Marg,
Mumbai-400001, |
|
Tel. No.: |
91-22-66954731 / 4 |
|
PAN No.: |
AAIPB6824H |
CAPITAL STRUCTURE
As on: 30.09.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
950000 |
Equity Shares |
Rs.10/- each |
Rs. 9.500 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
213500 |
Equity Shares |
Rs.10/- each |
Rs. 2.135
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 |
2.135 |
2.224 |
2.224 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
63.308 |
52.547 |
37.427 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
65.443 |
54.771 |
39.651 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
19.103 |
11.439 |
12.940 |
|
|
2] Unsecured Loans |
6.000 |
2.000 |
6.075 |
|
|
TOTAL BORROWING |
25.103 |
13.439 |
19.015 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
90.546 |
68.210 |
58.666 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
30.525 |
29.518 |
27.713 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.503 |
0.503 |
0.503 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
32.768
|
27.450 |
15.193 |
|
|
Sundry Debtors |
14.559
|
20.405 |
19.117 |
|
|
Cash & Bank Balances |
0.736
|
0.492 |
0.832 |
|
|
Other Current Assets |
1.098
|
1.566 |
1.571 |
|
|
Loans & Advances |
42.627
|
15.833 |
11.189 |
|
Total
Current Assets |
91.788
|
65.746 |
47.902 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
4.077
|
8.918 |
7.291 |
|
|
Other Current Liabilities |
3.143
|
2.139 |
2.065 |
|
|
Provisions |
25.050
|
16.500 |
8.100 |
|
Total
Current Liabilities |
32.270
|
27.557 |
17.456 |
|
|
Net Current Assets |
59.518
|
38.189 |
30.446 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.004 |
|
|
|
|
|
|
|
|
TOTAL |
90.546 |
68.210 |
58.666 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
|
|
|
|
|
SALES |
201.700 |
157.800 |
122.500 |
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
23.200 |
23.600 |
14.400 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
Net Profit Margin (PBT/Sales) |
(%) |
11.50
|
14.96 |
11.76 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
18.97
|
24.77 |
19.04 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.35
|
0.43 |
0.36 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.88
|
0.75 |
0.92 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.84
|
2.38 |
2.74 |
LOCAL AGENCY FURTHER INFORMATION
|
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 |
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 |
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 |
No |
SUNDRY CREDITORS DETAIL
(Rs. In Millions)
|
Particulars |
As on 31.03.2011 |
As on 31.03.2010 |
As on
31.03.20009 |
|
Sundry Creditor |
4.077
|
8.918 |
7.291 |
NOTE
Registered Office
of the company has been shifted from 2 2nd Floor, Asger Manzil, 49
Janmabhoomi Marg, Fort, Mumbai-400001, Maharashtra, India to the present address w.e.f. 01.06.2009
BUSINESS ACTIVITY
The working during the year resulted in sales of Rs. 201.700 millions
against 157.800 millions is the previous year, thus registering a growth of 29%
for the year. The Profit Before Tax amounted to Rs. 23.200 Millions against Rs.
23.600 Millions in the previous year. There was substantial increase in the
cost of raw material during the year and as a result in spite of higher sales
the Profit remained almost as the same level as last year. all efforts are
being made to contain the various overhead cost. With a view to conserve
resources Directors do no recommended any dividend for the year
BANKERS CHARGES REPORT
AS PER REGISTRY
|
Corporate
identity number of the company |
U25206MH2000PTC125361 |
|
Name of the
company |
SVP PACKING INDUSTRY PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
4, Guru Krupa,
1st Floor, 514/22, S V P Road, Opera
House, Mumbai - 400004, Maharashtra, India |
|
This form is for |
Modification of
charge |
|
Charge identification number of the modified |
90147649 |
|
Type of charge |
·
Book
debts ·
Movable
property (not being pledge) |
|
Particular of
charge holder |
The Shamrao Vithal Co-operative Bank Limited H-2, Anandashram, Shamrao Vithal Marg, Mumbai - 400007, Maharashtra,
India |
|
Nature of
instrument creating charge |
Supplementary
deed of hypothecation |
|
Date of
instrument Creating the charge |
13.05.2011 |
|
Amount secured by
the charge |
Rs. 25.000
Millions |
|
Brief of the principal
terms and conditions and extent and operation of the charge |
Rate of interest Cash Credit- @PLR
- 2.50% p.a Letter of Credit
- Commission as may be applicable Terms of repayment Cash Credit -
Review/ Renewal due in December 2011 Margin Cash Credit - 25% Letter of credit
- 10% Extent and operation of the charge To secure the due
repayment of credit facilities aggregating Rs. 25.000 millions, together with
interest, costs, charges and expenses thereon, granted by the Bank to the
Company. Other Additional CC of
Rs.10.000 millions making total Cash Credit of Rs.25.000 millions (Cash
Credit limit and LC limit should be utilized with an upper cap of Rs. 40.000
millions. Maximum CC should be utilized up to Rs. 25.000 millions and Maximum
Letter of Credit facility should be utilized with an upper cap of Rs. 20.000
millions. Combined CC and LC facility should not exceed Rs. 40.000 millions
at any point of time. |
|
Short particulars
of the property charged (Including location of the property) |
· Cash Credit - Hypothecation of stocks and book debts · Letter of credit - D/A D/P bills and title to goods to be imported · Collateral Security - 1)Equitable mortgage of Gala No.C-1 to C-3, Ground Floor, Sagar Sangam Industrial Estate Premises Co-operative Housing Society, Sativli Village, Vasai (East), Taluka Vasai, District Thane · Collateral Security -2)Hypothecation of entire machineries located at the factory - Market value Rs.19.341 millions as per valuation report of M/s. Yardi Prabhu Consultants Private Limited |
|
Date of
instrument modifying the charge |
29.04.2009 |
|
Particulars of
the present modification |
By this
modification, the charge shall hold good to secure additional credit
facilities (CC) of Rs. 10.000 millions making total credit facilities of Rs.
25.000 millions. (Cash Credit limit and LC limit should be utilized with an
upper cap of Rs. 40.000 millions. Maximum CC should be utilized up to Rs.
25.000 millions and Maximum Letter of Credit facility should be utilized with
an upper cap of Rs. 20.000 millions. Combined CC and LC should not exceed Rs.
40.000 millions.) Thus the overall
charge stands modified to Rs. 25.000 millions. |
FIXED ASSETS
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. 54.25 |
|
|
1 |
Rs. 87.00 |
|
Euro |
1 |
Rs. 69.83 |
INFORMATION DETAILS
|
Information
Gathered by : |
PJA |
|
|
|
|
Report Prepared
by : |
UDS |
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 |
5 |
|
--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 |
|
45 |
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.