MIRA
INFORM REPORT
|
Report Date : |
11.09.2012 |
IDENTIFICATION DETAILS
|
Name : |
ESGI GARMENTS PRIVATE LIMITED |
|
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Registered
Office : |
New - 10, (Old - 23), Kithabath Khan Bahadur Street, Anna Salai,
Chennai – 600002, Tamilnadu |
|
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Country : |
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Date of
Incorporation : |
01.06.2010 |
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Com. Reg. No.: |
075946 |
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Capital
Investment / Paid-up Capital : |
Rs.0.100 Million |
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CIN No.: [Company Identification
No.] |
U17220TN2010PTC075946 |
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|
Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer and Exporter of Finished Leather and Leather Garments. |
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No. of Employees
: |
31 (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 |
|
Status : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject was established in the year 1993 as a partnership concern with
the name ‘ESGI Leather Exports’ and in the year 2010 it got converted into a
private limited company. Even though the company was incorporated during 2010, it commenced the
business activities during April 2012. Till then the business activities of
partnership firm was carried out. However, trade relations are reported as fair. Business is active.
Payments are reported to be low but correct. The company can be considered for business dealings with some
cautions. |
NOTES:
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – June 30, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
|
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 PARTED BY
|
Name : |
Mr. K. M. Abdul Rahman |
|
Designation : |
Director |
|
Contact No.: |
91-9841030507 |
|
Date : |
08.09.2012 |
LOCATIONS
|
Registered Office : |
New - 10, (Old - 23), Kithabath Khan Bahadur Street, Anna Salai,
Chennai – 600002, Tamilnadu, India |
|
Tel. No.: |
91-44-25611803 |
|
Mobile No.: |
91-9841030507 (Mr. K. M. Abdul Rahman |
|
Fax No.: |
91-44-25610737 |
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E-Mail : |
|
|
Area : |
1000 sq. ft. |
|
Location : |
Owned |
|
|
|
|
Corporate Office
1: |
2/2, MC Far Lane, Periamet, Chennai – 600003, Tamilnadu, India |
|
Tel. No.: |
91-44-53828651/ 25611803/ 25388837 |
|
Fax No.: |
91-44-25610737 |
|
Area : |
600 sq. ft. |
|
Location : |
Rented |
|
|
|
|
Corporate Office
2: |
17 A/9, Wuthucattan Street, Periamet, Chennai
–
600003, Tamilnadu, India |
|
Area : |
600 sq. ft |
|
Location : |
Leased |
|
|
|
|
Factory : |
S-3 and S-5, Talco Industrial Estate, Madhavarm, Chennai – 600060,
Tamilnadu, India |
|
Tel. No.: |
91-44-25370614/ 26720043 |
|
Area : |
20560 sq. ft. |
|
Location : |
Owned |
DIRECTORS
|
Name : |
Mr. K. M. Abdul Rahman |
|
Designation : |
Partner |
|
Address : |
12/22, Kithbath Khan Bahadur Street, Street, Chennai-600002, Tamilnadu,
India |
|
|
|
|
Name : |
Mr. Mohammed Khalid Rahman |
|
Designation : |
Director |
|
Address : |
No.31, Byyamperumal Street, Royapettah, Chennai – 600014, Tamilnadu,
India |
|
|
|
|
Name : |
Mr. Rafiur Rahman |
|
Designation : |
Partner |
|
Address : |
New No.10 (Old No.23), Kithbath Khan Bahadur Street, Anna Salai,
Chennai – 600002, Tamilnadu, India |
|
PAN No.: |
AAJPR3007M |
|
|
|
|
Name : |
Mr. Abdul Haque |
|
Designation : |
Partner |
|
Address : |
New No.17 (Old No.6), Nallanna Mudali Lane, Royapettah, Chennai –
600014, Tamilnadu, India |
|
Pan No.: |
AAAPH3137R |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
(AS ON 24.05.2010)
|
Names of Shareholders |
|
No. of Shares |
|
Rafiur Rahman |
|
4000 |
|
Abdul Haque |
|
4000 |
|
Mohammed Khalid Rahman |
|
2000 |
|
|
|
|
|
Total |
|
10000 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Finished Leather and Leather Garments. |
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Exports : |
|
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Products : |
· Finished Leather · Leather Garments |
|
Countries : |
· Korea · Hong Kong · Turkey · France · Italy · UK · Denmark |
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Imports : |
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Products : |
Raw Materials |
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Countries : |
· Europe · Italy · Hong Kong |
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Terms : |
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Selling : |
Cash and Credit |
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Purchasing : |
Cash and Credit |
GENERAL INFORMATION
|
Customers : |
End Users |
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No. of Employees : |
31 (Approximately) |
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Bankers : |
· Union Bank of India Mount Road Branch, 152, Anna Salai, Chennai – 600002, Tamilnadu, India |
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|
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Facilities : |
CC – Rs.10.000 Millions and PC – Rs.70.000 Millions |
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
Dean and Dean Chartered Accountant |
|
Address : |
133, Thambu Chetty Street, Chennai – 600001, Tamilnadu, India |
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Tel. No.: |
91-44-25223978 |
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Fax No.: |
91-44-25217275 |
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Associates/Subsidiaries : |
· S. G. Fashion Address: F 450, Sector – 63, Gautam Budh Nagar, Noida – 201301, Uttar
Pradesh, India Activity: Manufacturer and Exporter of Finished Leather and Leather
Garments. |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
100000 |
Equity Shares |
Rs.10/- each |
Rs.1.000 Million |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000 |
Equity Shares |
Rs.10/- each |
Rs.0.100
Million |
|
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|
FINANCIAL DATA
[all figures are
in Rupees Millions]
NOT DIVULGED
Note: Activities
has been started from April 2012.
Expected Sales (2012-13): Rs.490.000 Millions
The above information has been parted by Mr. K. M. Abdul Rahman.
-------------------------------------------------------------------------------------------------------------------------------------------------------
ESGI LEATHER EXPORTS
(PARTNERSHIP
CONCERN)
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
29.698 |
19.641 |
17.031 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
0.000 |
0.000 |
0.000 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
29.698 |
19.641 |
17.031 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
103.319 |
58.353 |
24.962 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
0.320 |
|
|
TOTAL BORROWING |
103.319 |
58.353 |
25.282 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
133.017 |
77.994 |
42.313 |
|
|
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|
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APPLICATION OF FUNDS |
|
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|
|
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FIXED ASSETS [Net Block] |
21.620 |
19.748 |
9.230 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
5.528 |
5.138 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
49.303
|
39.018 |
18.235 |
|
|
Sundry Debtors |
86.126
|
42.433 |
25.365 |
|
|
Cash & Bank Balances |
1.900
|
0.787 |
0.733 |
|
|
Other Current Assets |
6.021
|
4.542 |
5.383 |
|
|
Loans & Advances |
5.055
|
0.604 |
2.538 |
|
Total
Current Assets |
148.405
|
87.384 |
52.254 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Current Liabilities |
37.088
|
34.666 |
24.309 |
|
|
Provisions |
0.000
|
0.000 |
0.000 |
|
Total
Current Liabilities |
37.088
|
34.666 |
24.309 |
|
|
Net Current Assets |
111.397
|
52.718 |
27.945 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
133.017 |
77.994 |
42.313 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
293.789 |
213.691 |
162.835 |
|
|
|
Other Income |
28.237 |
0.240 |
1.058 |
|
|
|
TOTAL (A) |
322.026 |
213.931 |
163.893 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Manufacturing Expenses |
|
82.094 |
31.838 |
|
|
|
Administrative Expenses |
|
41.696 |
26.597 |
|
|
|
Raw Material Consumed |
|
2.998 |
3.219 |
|
|
|
Other Expenditure |
|
71.008 |
91.773 |
|
|
|
TOTAL (B) |
306.340 |
197.796 |
153.427 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
(Including
Financial Expenses) |
16.135 |
10.466 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
|
7.219 |
3.548 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
15.686 |
8.916 |
6.918 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
1.416 |
0.749 |
0.332 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
14.270 |
8.167 |
6.586 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
3.887 |
5.643 |
4.551 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
10.383 |
2.524 |
2.035 |
|
|
Particulars |
|
31.03.2012 |
31.03.2011 |
|
Sales Turnover (Approximately) |
|
451.800 |
310.000 |
|
|
|
|
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
3.22
|
2.64 |
2.78 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
4.85
|
3.82 |
4.04 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
8.39
|
7.62 |
10.71 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.48
|
0.42 |
0.39 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
4.72
|
4.74 |
2.91 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.33
|
2.52 |
2.15 |
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 |
Yes |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
No |
|
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 |
Yes |
|
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 |
No |
|
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 |
No |
|
32] |
PAN of Proprietor/Partner/Director, if
available |
Yes |
|
33] |
Voter ID No of Proprietor/Partner/Director,
if available |
No |
|
34] |
External Agency Rating, if available |
No |
FORM 8:
|
This form is for |
Creation of
charge |
|
Corporate
identity number of the company |
U17220TN2010PTC075946 |
|
Name of the
company |
ESGI GARMENTS
PRIVATE LIMITED |
|
Address of the registered
office or of the principal place of
business in |
New - 10, (Old - 23), Kithabath Khan Bahadur Street, Anna Salai,
Chennai – 600002, Tamilnadu, India |
|
Type of charge |
Immovable
Property Book Debts Movable Property |
|
Particular of
charge holder |
· Union Bank of India Mount Road Branch, 152, Anna Salai, Chennai – 600002, Tamilnadu, India |
|
Nature of
description of the instrument creating or modifying the charge |
Hypothecation of
Stocks and Book Debts (SD- 06) Hypothecation of
movables (SD-19) Hypothecation of
Bills (SD-17) Hypothecation of
Stocks for Export / Packing Credit Agrmt (SD-4) |
|
Date of
instrument Creating the charge |
02.02.2012 |
|
Amount secured by
the charge |
Rs.142.960
Millions |
|
Brief particulars
of the principal terms and conditions and extent and operation of the charge |
Rate of Interest CCH = BR+4% TL = BR + 4.75% +
0.50% PC = As per RBI
norms FDBP = As per RBI
norms Terms of
Repayment CCH / PC - Due
for renewal after 1 year / from sale proceeds TL - 60 months
with 4 months moratorium Margin Stocks - 25% Book Debts - 50% Term Loan - 35% Extent and
Operation of the charge To secure the
Packing Credit limit of Rs.70.000 Millions, cash credit limit of Rs.10.000
Millions, LC limit of Rs.70.000 Millions and Term loan Amount of Rs.2.960
Millions. Others NIL |
|
Short particulars
of the property charged |
The borrower
hypothecates in favour of the Bank: 1) Entire Stocks
comprising of Raw materials, work in progress and finished goods, present and
future and tangible movable machinery and Plant and machinery, Movable property of any kind belonging to the
borrower and stored/installed at their premises or godowns or in transit or
with the Borrower's Agents or
wherever else they may be 2) Entire book debts present and future, outstanding, moneys, receivables, claims, bills which are due and owing to the borrower in the course of its business by any person, company or by the government or any local or public body or authority Door
No:13/14(old), Newno:17/6, Nallana Mudali lane, Royapettah, Chennai admsg.
1375 sq.ft in the name of Mr. Abdul Haque and Mrs. Arif Jehan. Door No: 17, Old
No: 36, Ayyanperumal Street, Royapettah, Chennai admsg. 1938 sq. ft. in the
name of Mrs. Parveen Sulatana. Plot No: K2, in
Talco Industrial Estate. Madhavaram, admsg. 7152.75 sq. ft. in the name of
Mr. Mohd. Rafiur Rehman |
|
Whether any of the property or
interest therein under reference is not registered in the name of the company |
Yes |
|
If yes, in whose name it is
registered |
Mr. Abdul haque
and Mrs. Arif Jehan Mrs. Parveen Sultana
Mr. Rafiur Rahman |
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.55.34 |
|
|
1 |
Rs.88.50 |
|
Euro |
1 |
Rs.70.74 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Report Prepared
by : |
NIT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
2 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
3 |
|
--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 |
YES |
|
--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.