MIRA
INFORM REPORT
|
Report Date : |
29.11.2012 |
IDENTIFICATION DETAILS
|
Name : |
RAJSHANTI METALS PRIVATE LIMITED |
|
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Registered
Office : |
B-42, Shankar Tekri, GIDC Estates, Jamnagar-361004, Gujarat |
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Country : |
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Financials (as
on) : |
31.03.2012 |
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Date of
Incorporation : |
18.11.1991 |
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Com. Reg. No.: |
04-016616 |
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Capital
Investment / Paid-up Capital : |
Rs. 3.910 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74999GJ1991PTC016616 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
RKTR00954C |
|
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|
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PAN No.: [Permanent Account No.] |
AABCR0211Q |
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|
Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer of Extruded And Drawn Brass Rods, Flat Bars. |
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No. of Employees
: |
75 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (34) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 220000 |
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|
Status : |
Moderate |
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Payment Behaviour : |
Slow But Correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate track. There appears
some dip in the sales of the company during 2012. Profitability has dipped
momentously. However, trade relations are reported as fair. Business is active. Payments
terms are slow but correct. The company can be considered for business dealings with some caution.
|
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 |
CARE |
|
Rating |
A4 – (Short Term Bank Facilities) |
|
Rating Explanation |
Minimal degree of safety and very high credit risk. |
|
Date |
02.04.2012 |
|
Rating Agency Name |
CARE |
|
Rating |
BB (Long Term Bank Facilities) |
|
Rating Explanation |
Moderate risk of default. |
|
Date |
02.04.2012 |
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 PARTED BY
|
Name : |
Mr. Raj |
|
Designation : |
Accountant |
|
Contact No.: |
91-288-2560614 |
|
Date : |
28.11.2012 |
LOCATIONS
|
Registered Office/ Factory : |
B-42, Shankar Tekri, Gidc Estates, Jamnagar-361004, Gujarat, India |
|
Tel. No.: |
91-288-2560614 |
|
Mobile No.: |
91-9824031712 (Mr. Naresh Shah) |
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Fax No.: |
91-288-2560665 |
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E-Mail : |
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Website : |
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|
Location : |
owned |
DIRECTORS
AS ON 17.09.2011
|
Name : |
Mr. Shantilal Motichand Haria |
|
Designation : |
Director |
|
Address : |
Raj, 5, Oswal Colony, Sumer Club Road, Jamnagar 3601 005,
Gujarat, India |
|
Date of Appointment : |
18.11.1991 |
|
DIN No.: |
00347391 |
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|
|
|
Name : |
Mr. Rajesh S Haria |
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Designation : |
Director |
|
Address : |
Raj, 5, Oswal Colony, Sumer Club Road, Jamnagar 3601 005,
Gujarat, India |
|
Date of Appointment : |
15.06.2007 |
|
DIN No.: |
00347487 |
KEY EXECUTIVES
|
Name : |
Mr. Raj |
|
Designation : |
Accountant |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 17.09.2011
|
Names of Shareholders |
No. of Shares |
|
Shantilal Motichand Haria |
225740 |
|
Rajesh Shantilal Haria |
80000 |
|
Kanchanben Shantilal Haria |
64910 |
|
Shantilal Motichand Haria (Huf) |
10 |
|
Naynaben Shantilal Haria |
10 |
|
Shilpaben Ketanbhai Gosrani |
10 |
|
Bhavini Rajeshbhai Haria |
20250 |
|
Bansi Ketanbhai Gosrani |
10 |
|
Naresh Jivanlal Shah |
10 |
|
Ashaben Nareshbhai Shah |
10 |
|
Ishani Rajesh Haria |
10 |
|
Anandsons Overseas Trading Private Limited, India |
10 |
|
Chandrakant Chunilal Anandpara |
10 |
|
Chunilal Dharamsi Anandpara |
10 |
|
TOTAL
|
391000 |
AS ON 17.09.2011
|
Equity Shares
Break Up |
Percentage of
Holding |
|
Directors or relatives of Directors |
99.98 |
|
Other top fifty shareholders |
0.02 |
|
TOTAL |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Extruded And Drawn Brass Rods, Flat Bars. |
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Exports : |
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Countries : |
·
Sri Lanka |
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Imports : |
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Products : |
·
Raw Materials |
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Countries : |
·
Europe ·
UK ·
USA |
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Terms : |
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Selling : |
Cash, Credit |
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Purchasing : |
Cash, Credit |
GENERAL INFORMATION
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Customers : |
·
Wholesales ·
Retailers |
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No. of Employees : |
75 (Approximately) |
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Bankers : |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
D S Varia And CO Chartered Accountant |
|
Address : |
CA House, 3rd Floor, Behind Dr. Takwani’s Hospital, Walkeshwari
NAgari, Jamnagar-361008, Gujarat, India |
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Mobile No.: |
91-942727798 |
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E-Mail : |
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PAN No.: |
AAHPV6079R |
CAPITAL STRUCTURE
AS ON 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
500000 |
Equity Shares |
Rs.10/- each |
Rs. 5.000 Millions |
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|
|
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
391000 |
Equity Shares |
Rs.10/- each |
Rs. 3.910
Millions |
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|
|
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FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
3.910 |
3.910 |
3.910 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
52.642 |
50.699 |
35.829 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
56.552 |
54.609 |
39.739 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
112.693 |
102.375 |
100.365 |
|
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2] Unsecured Loans |
27.836 |
29.245 |
26.462 |
|
|
TOTAL BORROWING |
140.529 |
131.620 |
126.827 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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|
|
|
|
|
|
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TOTAL |
197.081 |
186.229 |
166.566 |
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APPLICATION OF FUNDS |
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|
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|
|
|
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|
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FIXED ASSETS [Net Block] |
19.187 |
22.216 |
25.396 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
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|
|
|
|
|
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INVESTMENT |
2.050 |
1.958 |
0.549 |
|
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DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
115.813
|
91.802 |
54.510
|
|
|
Sundry Debtors |
51.492
|
42.525 |
46.964
|
|
|
Cash & Bank Balances |
4.194
|
2.603 |
0.732
|
|
|
Other Current Assets |
2.366
|
2.274 |
0.000
|
|
|
Loans & Advances |
35.299
|
31.832 |
42.198
|
|
Total
Current Assets |
209.164
|
171.036 |
144.404 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
30.393
|
7.044 |
0.287
|
|
|
Other Current Liabilities |
1.465
|
0.789 |
1.284
|
|
|
Provisions |
1.462
|
1.148 |
2.212
|
|
Total
Current Liabilities |
33.320
|
8.981 |
3.783 |
|
|
Net Current Assets |
175.844
|
162.055 |
140.621
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
197.081 |
186.229 |
166.566 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
403.238 |
425.916 |
410.602 |
|
|
|
Other Income |
NA |
5.791 |
3.597 |
|
|
|
TOTAL (A) |
NA |
431.707 |
414.199 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Other Expenses |
|
|
|
|
|
|
Administrative Expenses |
|
|
|
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|
Advertising Expenses |
|
|
|
|
|
|
TOTAL (B) |
NA |
395.014 |
364.531 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
21.614 |
36.693 |
49.668 |
|
|
|
|
|
|
|
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|
Less |
FINANCIAL
EXPENSES (D) |
16.130 |
17.148 |
16.226 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
5.484 |
19.545 |
33.442 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
3.142 |
3.676 |
4.101 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
2.342 |
15.869 |
29.341 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
0.400 |
1.000 |
1.621 |
|
|
|
|
|
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|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
1.942 |
14.869 |
27.720 |
|
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|
|
|
|
|
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|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
4.321 |
2.335 |
4.649 |
|
|
TOTAL EARNINGS |
4.321 |
2.335 |
4.649 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
NA |
NA |
276.492 |
|
|
TOTAL IMPORTS |
NA |
NA |
276.492 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
4.97 |
38.03 |
70.90 |
|
Expected Sales (2012-2013) : Rs. 450.000 Millions
The above information has been parted by Mr. Raj.
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
NA
|
3.44 |
6.69
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
0.58
|
3.73 |
70.52
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.03
|
8.21 |
17.27
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.04
|
0.29 |
0.73
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
3.07
|
2.57 |
3.28
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
6.28
|
19.04 |
38.17
|
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 |
Yes |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
No |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
Yes |
|
20] |
Export / Import details
(if applicable) |
Yes |
|
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 |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
No |
|
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 |
SUNDRY CREDITORS
DETAILS
(Rs.
In Millions)
|
Particulars |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
|
|
|
Sundry Creditors |
29.053 |
5.801 |
0.287 |
|
Advance from Customers |
1.340 |
1.243 |
0.000 |
|
TOTAL |
30.393 |
7.044 |
0.287 |
OPERATION DURING
THE YEAR
The total income of the Company has been reported to Rs. 403.238
Millions as compared to the previous year of Rs. 425.916 Millions (decrease by
5.62%) but the profit of the company has been declined to Rs. 2.342 Millions
before tax as compared to the profit of the previous year of Rs. 15.869
Millions, which due to all time high to the valuation of US$ globally effected
in brass industries profit of the previous year was also affected due to
disclosure of income Rs. 5.300 Millions during income tax survey proceedings.
Besides, the Profit has been reduced comparatively. The management has put
their full efforts to improve the financial results in the coming year.
FORM 8
|
Corporate
identity number of the company |
U74999GJ1991PTC016616 |
|
Name of the
company |
RAJSHANTI METALS
PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
B-42, Shankar Tekri, Gidc Estates, Jamnagar-361004, Gujarat, India |
|
This form is for |
Modification of
charge |
|
Charge
identification number of the charge to be modified |
90109028 |
|
Type of charge |
·
Immovable
property ·
Book
debts ·
Others |
|
Particular of
charge holder |
State Bank of India, Digvijay Plot Branch, Jamnagar-361004, Gujarat,
India |
|
Nature of
instrument creating charge |
Instrument
Modifying the Charge: No Due
Certificate |
|
Date of
instrument Creating the charge |
19.04.2012 |
|
Amount secured by
the charge |
Rs. 110.800
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of interest For Working
Capital: Interest at 5.25% above base rate (Base rate at present is 7.50%
w.e.f. 01/07/2010 i.e. 12.75 % P.A. (Against card rate for SB7 rating is
6.50% above base rate i.e. 14%) Terms of repayment Working Capital
payable on Demand Margin Raw Material,
Semi finished Goods, Finished Goods, components, spares : 25 % Receivables : 50
% Letter of Credit,
Bank Guarantee : 25 % Extent and operation of the charge The charge
operates to extend over properties of the company as of this form in favour
of bank to secure repayment of entire credit facilities of Rs. 110.800
Millions in addition to all interests, costs and expenditure. |
|
Short particulars
of the property charged (Including location of the property) |
Hypothecation of
All Kinds of Stocks, Receivables And Entire Current Assets Of The Company. Shed No. B-41 of
Survey No. 1487/2, Situated At GIDC Industrial Estate, Shankar Tekri,
Jamnagar. Shed/Plot No.
B-42, Revenue Survey No. 1487/2, Situated At GIDC Industrial Estate, Shankar
Tekri, Jamnagar. Shed/Plot No.
B-34, Revenue Survey No. 1487, of Small Scale Industrial Co-Operative Society
Limited GIDC Industrial Estate, Shankar Tekri, Jamnagar. |
|
Date of
instrument modifying the charge |
23.09.2010 |
|
Particulars of
the present modification |
The Company has
repaid Term Loan. Now, Total Credit facilities
Limit reduced from Rs. 117.800 Millions to Rs. 110.800 Millions. |
FIXED ASSETS
·
Factory Shed And Building
·
Plant And Machinery
·
Laboratory-Office-Factory
Equipments
·
Computer
·
Furniture And Fixture
·
Tools And Electric Discharge
Machines
·
Dies
·
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. 55.70 |
|
|
1 |
Rs. 89.34 |
|
Euro |
1 |
Rs. 72.35 |
INFORMATION DETAILS
|
Information
Gathered by : |
PJA |
|
|
|
|
Report Prepared
by : |
DPT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
34 |
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.