MIRA
INFORM REPORT
|
Report Date : |
06.09.2012 |
IDENTIFICATION DETAILS
|
Name : |
UMANG PHARMATECH PRIVATE LIMITED |
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Registered
Office : |
Flat No. 34, 3rd Floor, B- 2 , Windermere, Off
New |
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Country : |
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Financials (as
on) : |
31.03.2010 |
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Date of
Incorporation : |
18.05.1992 |
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Com. Reg. No.: |
11-066815 |
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Capital
Investment / Paid-up Capital : |
Rs. 30.100 Millions |
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CIN No.: [Company Identification
No.] |
U29297MH1992PTC066815 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
MUMU01759C |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer and Exporter of Cement Project Machinery,
Mini Cement Plant, Sugar Machinery, Chemical Plants, Distillery Plants, Kiln
Cement Plants, Grinding Plants, Grinding Equipments, Cement Plants, Sponge
Iron Plant. |
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No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
B (27) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
USD 250000 |
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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. The company have
fail to file their financial detail with government department and management
have denied to disclose its financial detail. However, trade relations are
reported as fair. Business is active. Payments are Unknown. 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.
ECGC Country Risk Classification List – June 30, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
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 DECLINED
|
Name : |
Mr. Umang Budhraja |
|
Designation : |
Chief Operating Officer |
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Contact No.: |
91-9867236591 |
|
Date : |
05.09.2012 |
LOCATIONS
|
Registered / Head Office : |
Flat No. 34, 3rd Floor, B- 2 , Windemere, Off New Link Road, Andheri (West), Mumbai - 400 053, Maharashtra, India |
|
Tel. No.: |
91-22-30018900 |
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Mobile No.: |
91-9867236594 (Ms. Suja) 91-9867236591 (Mr. Umang Budhraja) |
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Fax No.: |
91-22-40106464 / 30018908/ 30018907 |
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E-Mail : |
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Website : |
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Main Office / Factory 1 : |
Survey No. 146, H.No.1 (PT), Vasai Phata Highway Junction, Pelhar, NH8, Vasai (East) - 401 208, Maharashtra, India |
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Tel. No.: |
91-22-30018900 / 30018915 - 98 |
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Fax No.: |
91-22-30018908 / 30018913 |
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E-mail: |
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Factory 2 : |
Plot No. 23, Golani Complex, Opposite Agrwal Hospital, Valiv, Vasai Road (East), Thane-401208, Maharashtra, India |
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Tel. No.: |
91-250-2453795/2454467/2456482 |
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Fax No.: |
91-250-2453795/2454467/2456482 |
DIRECTORS
As on 16.09.2010
|
Name : |
Mr. Raj Kumar Budhraja |
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Designation : |
Managing director |
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Address : |
Flat No. 34, 3rd Floor, B- 2 , Windermere, Off New
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Date of Birth/Age : |
12.12.1946 |
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Qualification : |
B. E |
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Date of Appointment : |
18.05.1992 |
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DIN No.: |
01847459 |
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Name : |
Mrs. Renu Rajkumar Budhraja |
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Designation : |
Director |
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Address : |
Flat No. 34, 3rd Floor, B- 2 , Windemere, Off
New |
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Date of Birth/Age : |
05.03.1954 |
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Date of Appointment : |
18.05.1992 |
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DIN No.: |
01114263 |
KEY EXECUTIVES
|
Name : |
Mr. Umang Budhraja |
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Designation : |
Chief Operating Officer |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 16.09.2010
|
Names of Shareholders |
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No. of Shares |
|
Rajkumar Budhraja |
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140000 |
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Renu Rajkumar Budhraja |
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140000 |
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Priya Komal Narang |
|
7000 |
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Umang Rajkumar Budhraja |
|
7000 |
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Payal Rajkumar Budhraja |
|
7000 |
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Total |
|
301000 |
Equity Share Break up (Percentage of Total Equity)
As on 16.09.2010
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
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Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Cement Project Machinery, Mini
Cement Plant, Sugar Machinery, Chemical Plants, Distillery Plants, Kiln
Cement Plants, Grinding Plants, Grinding Equipments, Cement Plants, Sponge
Iron Plant. |
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Products : |
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PRODUCTION STATUS (AS ON 31.03.2010)
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Particulars |
Unit |
Actual
Production |
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Pharmaceutical
Machinery such as Extruder, Pelletizer with Die Roller, Fluid Bed Coater,
Sphere - Oidizer, Lab-Coater, Drug - layering, Fluid Bed Processor, Mixer and
Dryer etc. |
Nos. |
33 |
|
Pharma Products |
Kgs. |
32779 |
GENERAL INFORMATION
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No. of Employees : |
Information declined by the management |
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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 : |
Pankaj A. Shah and Company Chartered Accountants |
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Address : |
3/1225, -L, Navjivan Comm. Premises Co-operative Society Limited, Lamington Road, Mumbai- 400008, Maharashtra, India |
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Tel. No.: |
91-22-23074148/ 28331135 |
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Fax No.: |
91-22-23053478 |
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PAN.: |
ABEPS6263J |
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Associates : |
R.R. Enterprises |
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Subsidiaries : |
Caleva Process Solutions Limited (U.K.) |
CAPITAL STRUCTURE
As on 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
1000000 |
Equity Shares |
Rs.100/- each |
Rs.100.000 Millions |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
24000 |
Equity Shares |
Rs.100/- each |
Rs.2.400 Millions |
|
277000 |
Bonus Equity Shares |
Rs.100/- each |
Rs.27.700 Millions |
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TOTAL |
|
Rs.30.100
Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
30.100 |
30.100 |
7.525 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
32.144 |
26.089 |
29.455 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
62.244 |
56.189 |
36.980 |
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LOAN FUNDS |
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1] Secured Loans |
93.479 |
68.835 |
77.133 |
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2] Unsecured Loans |
2.550 |
0.000 |
0.683 |
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TOTAL BORROWING |
96.029 |
68.835 |
77.816 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.342 |
0.862 |
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TOTAL |
158.273 |
125.366 |
115.658 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
105.351 |
107.017 |
110.079 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
42.043 |
0.500 |
0.500 |
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DEFERREX TAX ASSETS |
0.021 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
68.767
|
18.218
|
16.521
|
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Sundry Debtors |
33.292
|
26.600
|
13.324
|
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Cash & Bank Balances |
0.258
|
2.455
|
2.210
|
|
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Other Current Assets |
0.000
|
0.000
|
0.000
|
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Loans, Advances & Deposits |
21.077
|
39.708
|
19.296
|
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Total
Current Assets |
123.394
|
86.981 |
51.351 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
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|
Sundry Creditors |
|
32.436 |
25.836 |
|
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Other Current Liabilities |
111.541
|
15.976 |
11.029
|
|
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Provisions |
1.139
|
20.883 |
9.701
|
|
Total
Current Liabilities |
112.680
|
69.295 |
46.566 |
|
|
Net Current Assets |
10.714
|
17.686 |
4.785
|
|
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MISCELLANEOUS EXPENSES |
0.144 |
0.163 |
0.294 |
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TOTAL |
158.273 |
125.366 |
115.658 |
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PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
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SALES |
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Income |
114.108 |
178.965 |
74.563 |
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Other Income |
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TOTAL (A) |
114.108 |
178.965 |
74.563 |
|
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Less |
EXPENSES |
|
|
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|
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Office Expenses |
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Administrative Expenses |
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Advertising Expenses |
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TOTAL (B) |
81.161 |
127.541 |
45.899 |
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Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
32.947 |
51.424 |
28.664 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
10.255 |
8.062 |
8.160 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
22.692 |
43.362 |
20.504 |
|
|
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|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
13.322 |
13.492 |
11.354 |
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|
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|
PROFIT BEFORE
TAX (E-F) (G) |
9.370 |
29.870 |
9.150 |
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Less |
TAX (H) |
3.315 |
10.661 |
3.020 |
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PROFIT AFTER TAX
(G-H)
(I) |
6.055 |
19.209 |
6.130 |
|
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|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
26.089 |
29.455 |
23.315 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
0.000 |
22.575 |
(0.010) |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
32.144 |
26.089 |
29.455 |
|
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|
|
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EARNINGS IN
FOREIGN CURRENCY |
|
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Export Earnings |
42.650 |
96.482 |
24.316 |
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TOTAL EARNINGS |
42.650 |
96.482 |
24.316 |
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IMPORTS |
|
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|
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|
C.I.F Value of Import |
6.590 |
10.226 |
1.393 |
|
|
TOTAL IMPORTS |
6.590 |
10.226 |
1.393 |
|
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|
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|
Earnings Per
Share (Rs.) |
20.12 |
255.27 |
81.46 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
5.30
|
10.73 |
39.50
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
8.21
|
16.69 |
12.27
|
|
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|
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|
Return on Total Assets (PBT/Total Assets} |
(%) |
4.09
|
15.39 |
5.67
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.15
|
0.53 |
0.25
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
3.35
|
2.46 |
3.36
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.09
|
1.26 |
1.10
|
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 |
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 |
Yes |
|
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 |
FINANCIAL RESULTS
Overall Net Sales
registered a 36.84% decrease to Rs.104.700 Millions compared to Rs.165.800 Millions
for F.Y.2008-09. This is attributable to global recessation in the industries
in case of Pharmaceutical Machinery. However new line of pharma products was
well received in the global market and company is very optimistic for the years
to come. Also company is in continuous in the process of development of new
pharma products.
Net Profit Before
Tax at Rs.9.370 Millions was 68.63% lower in comparison to F.Y.2008-09.
Decrease in Depreciation at Rs.13.322 Millions over Rs.13.492 Millions last
year. Financial Cost showed an Increase of 27.21% compared to last year.
PROJECTS
During the current
financial year the company acquired 68.75% shares of Caleva Process Solutions
Limited a company registered in U.K. dealing in the same line of products and
having great repute and established brand name all over the world. By virtue of
the acquisition the company has become a holding company and will be exercising
control on the Board of the subsidiary company. The company shall have added
advantage as the competition shall be eliminated in the global market by virtue
of this acquisition. By virtue of this acquisition the company will attain the
new standards in the wide range of products accepted in the European and Global
market which will enhance the business globally.
The Company came
into existence in the year 1992 and has shown continuous progress from year to
year. The company's manufacturing unit is equipped with all modern technologies
and good infrastructure. The company's existing product line consist of
pharmaceutical machinery and plants to cater the needs of the growing
pharmaceutical industry. The company is in continuous process of conducting R
and D in this regards and is set to add more product line from time to time.
The company had
set up new project to make formulation and bulk drugs by using in house R and D
and also using captive machinery to suit the pharma industry. The company is in
continuous expansion of pharma unit and has shown tremendous potential for
growth. The company hope to acquire substantial growth in the turnover of
pharma product. The company's main thrust is global acquisition to create large
scale economies in the line of product.
CONTINGENT LIABILITIES (AS ON 31.03.2010):
a)
Estimated Value of Contract remaining to be executed
on Capital Account and not provided for - NIL
b)
Guarantee Furnished by Bankers Rs.1.436 Millions
c)
Claims against the Company not acknowledged as
Debts - NIL
FIXED ASSETS:
- Land
- Factory Premises
- Furniture and Fixtures
- Laboratory Equipments
- Computer
- Car
- Air Conditioners
- Plant and Machinery
- Fax machine
- Fire Safety Equipment
- Dies and Moulds
AS PER WEBSITE
MANAGEMENT
Mr. Rajkumar Budhraja is the Managing Director and Chief Executive Officer founder of Umang Group of Companies. He is endowed with a brilliant financial acumen master in strategic planning and corporate affairs. Besides Umang Pharmatech Private Limited India, he is also a Board member of Caleva Process Solutions Limited, UK. He has 35 years of experience in the pharmaceuticals, specialty chemicals, foods, oil and gas and allied process industry sectors.
Mr. Umang R. Budhraja, Chief Operating Officer, son of Mr. Rajkumar Budhraja, is a man who always sees life in a positive light and believes in confronting challenges head-on. At a young age he has made an indelible imprint in running a corporate conglomerate and can be a fountain of inspiration to any aspiring businessman. He is also the board member of other corporate companies in USA, UK.
Dr. Nidhi U. Budhraja graduated from the University of Mumbai (India) in Medicines.
She joined the Group where she led the company’s Research, Development and
Innovation function.
Dr. Budhraja is a Chartered Researcher and member of several professional bodies
besides the primary responsibilities of UMANG. She is also among the core
members of the strategic team for research and development in UPPL.
Mr. Jayanta Banerjee,
a techno-commercial professional responsible of Group’s business development
activity, having his strong presence in healthcare fraternity of Indian
Business Scenario. Being the part of management team of the Group Mr. Banerjee
looks after a slew of Umang’s brands in the Domestic and International
pharmaceutical Business Sector. A key member of the think tank that drives the
Umang Group forward.
Mr. Banerjee is heading the marketing division of Umang Group, the mainstay of
the business outfit.
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.55.90 |
|
|
1 |
Rs.88.63 |
|
Euro |
1 |
Rs.70.03 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Report Prepared
by : |
NTH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
27 |
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.