MIRA INFORM REPORT
|
Report Date : |
04.04.2013 |
IDENTIFICATION DETAILS
|
Name : |
P. S. TECHCOM PRIVATE LIMITED VECAUN PROJECTS A DIVISION OF P. S. TECHCOM PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
2C-728, 1st Floor, 9th B Main, 80 Feet Road, Chairmans Layout, HRBR Layout, Banaswadi, Bangalore - 560043. Karnataka |
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Country : |
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Financials (as
on) : |
31.03.2012 |
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Date of
Incorporation : |
09.05.2003 |
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|
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Com. Reg. No.: |
08-031918 |
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Capital
Investment / Paid-up Capital : |
Rs. 8.681 Millions |
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|
|
|
CIN No.: [Company Identification
No.] |
U31907KA2003PTC031918 |
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|
Legal Form : |
Private Limited Liability Company. |
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Line of Business
: |
Trading and Manufacturing of Smoke Detector Systems. |
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No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (33) |
|
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 is an established company having a moderate track record. The
profitability of the company appears to be low. The external borrowing seems
to be increasing. However, trade relations are reported to be fair. Business is active.
Payments are reported to be 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.
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 |
|
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.
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.
LOCATIONS
|
Registered Office : |
2C-728, 1st Floor, 9th B Main, 80 Feet
Road, Chairmans Layout, HRBR Layout, Banaswadi, Bangalore – 560043.
Karnataka, India |
|
Tel. No.: |
91-80-25425309 |
|
Fax No.: |
91-80-25828334 |
|
E-Mail : |
DIRECTORS
As on 29.09.2012
|
Name : |
Mr. Prasad Parasuraman |
|
Designation : |
Managing Director |
|
Address : |
932, Karthik, 3rd C Cross, 9th Main, Kalyan Nagar, HRBR Layout, Bangalore – 560043, Karnataka, India |
|
Date of Birth/Age : |
17.07.1976 |
|
Date of Appointment : |
09.05.2003 |
|
DIN No.: |
01651008 |
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|
Name : |
Mr. Subhash Seshamani Iyer |
|
Designation : |
Whole Time Director |
|
Address : |
932, Karthik, 3rd C Cross, 9th Main, Kalyan Nagar, HRBR Layout, Bangalore – 560043, Karnataka, India |
|
Date of Birth/Age : |
14.03.1978 |
|
Date of Appointment : |
09.05.2003 |
|
DIN No.: |
01651012 |
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|
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|
Name : |
Ms. Subhashree Srinivasan |
|
Designation : |
Whole Time Director |
|
Address : |
932, Karthik, 3rd C Cross, 9th Main, Kalyan Nagar, HRBR Layout Bangalore – 560043, Karnataka, India |
|
Date of Birth/Age : |
05.06.1978 |
|
Date of Appointment : |
09.05.2003 |
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|
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|
Name : |
Mr. Vaidyanathan Panchapakesan |
|
Designation : |
Chairman |
|
Address : |
12, Old 8, Chandrbagh Avenue, Mylapore, Chennai – 600004, Tamilnadu, India |
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Date of Birth/Age : |
29.10.1935 |
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Date of Appointment : |
22.07.2003 |
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|
Name : |
Mr. Rajamany Vidyanathan |
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Designation : |
Director |
|
Address : |
32, Rajaji Street, Nehru Nagar, Chromepet, Chennai – 600044, Tamilnadu, India |
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Date of Birth/Age : |
10.06.1956 |
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Date of Appointment : |
22.07.2003 |
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|
Name : |
Ms. Priya Parasuraman |
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Designation : |
Director |
|
Address : |
Plot No. 15, Madhav Nagar, Nagpur – 440010, Maharashtra, India |
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Date of Birth/Age : |
17.12.1978 |
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Date of Appointment : |
22.07.2003 |
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DIN No.: |
01651023 |
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|
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Name : |
Ms. Rajeshwari Parasuraman |
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Designation : |
Director |
|
Address : |
Plot No. 15, Madhav Nagar, Nagpur – 440010, Maharashtra, India |
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Date of Birth/Age : |
25.08.1947 |
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Date of Appointment : |
29.09.2007 |
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DIN No.: |
01717406 |
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|
|
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Name : |
Mr. Satish Kumar Dubey |
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Designation : |
Director |
|
Address : |
H No C-1/1407 Vasant Kunj, New Delhi 110070, Delhi, India |
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Date of Birth/Age : |
07.06.1952 |
|
Date of Appointment : |
30.09.2010 |
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DIN No.: |
03283951 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 29.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
Prasad Parasuraman |
|
192913 |
|
Subhash Seshamani Iyer |
|
108029 |
|
Rajshwari Parasuraman |
|
19500 |
|
Priya Parasuraman |
|
111029 |
|
J. V. Ramani |
|
77500 |
|
Vidya Ramani |
|
46500 |
|
R. Vaidyanathan |
|
37000 |
|
V. Panchapakesan |
|
47500 |
|
Sarala Panchapakesan |
|
30500 |
|
Y Dandapani Jointly with Lalitha Dandapani |
|
500 |
|
Savita Jayaprakash Jointly with Y Dandapani |
|
500 |
|
Vishalam Seshamani |
|
25000 |
|
Sathish Kumar Dubey |
|
25000 |
|
Ravi Subramanyam |
|
12500 |
|
Devi |
|
20000 |
|
K P Daswani |
|
10000 |
|
Ganesh Easwer |
|
5625 |
|
A S Seshamani |
|
111029 |
Equity Share Break up (Percentage of Total Equity)
As on 29.09.2012
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Trading and Manufacturing of Smoke Detector Systems. |
GENERAL INFORMATION
|
Customers : |
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No. of Employees : |
Not Available |
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Bankers : |
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Facilities : |
(Rs.
In Millions)
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
Ishwar and Gopal Chartered Accountant |
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Address : |
Sri Vinayaka Motor Service Building, 21/3, TSP Road, Kalasipalyam,
Bangalore – 560002, Karnataka, India |
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Tel. No.: |
91-80-26701694, 26700009 |
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Fax No.: |
91-80-26706317 |
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PAN.: |
AAAFI2474E |
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Email : |
CAPITAL STRUCTURE
As on 29.09.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1000000 |
Equity Shares |
Rs.10/- each |
Rs. 10.000 millions |
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|
|
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|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
868125 |
Equity Shares |
Rs.10/- each |
Rs. 8.681 Millions |
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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 |
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|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
8.681 |
8.681 |
8.681 |
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2] Share Application Money |
0.925 |
0.925 |
0.725 |
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3] Reserves & Surplus |
23.668 |
22.162 |
21.408 |
|
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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|
NETWORTH |
33.274 |
31.768 |
30.814 |
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|
LOAN FUNDS |
|
|
|
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|
1] Secured Loans |
48.306 |
44.732 |
40.271 |
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2] Unsecured Loans |
22.436 |
21.677 |
7.162 |
|
|
TOTAL BORROWING |
70.742 |
66.409 |
47.433 |
|
|
DEFERRED TAX LIABILITIES |
0.002 |
0.174 |
0.078 |
|
|
DEFERRED PAYMENT CREDIT |
0.000 |
0.000 |
1.495 |
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|
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TOTAL |
104.018 |
98.351 |
79.820 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
48.348 |
48.197 |
46.498 |
|
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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|
|
|
|
|
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|
INVESTMENT |
0.005 |
0.005 |
0.000 |
|
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DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
4.941
|
13.966 |
11.978 |
|
|
Sundry Debtors |
158.046
|
66.104 |
98.459 |
|
|
Cash & Bank Balances |
14.988
|
18.203 |
4.683 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
12.151
|
9.701 |
7.700 |
|
Total
Current Assets |
190.126
|
107.974 |
122.820 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
97.228
|
31.367 |
80.595 |
|
|
Other Current Liabilities |
35.428
|
25.163 |
8.149 |
|
|
Provisions |
1.805
|
1.295 |
0.754 |
|
Total
Current Liabilities |
134.461
|
57.825 |
89.498 |
|
|
Net Current Assets |
55.665
|
50.149 |
33.322 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
104.018 |
98.351 |
79.820 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
227.092 |
84.261 |
143.075 |
|
|
|
Other Income |
3.917 |
3.133 |
2.328 |
|
|
|
TOTAL (A) |
231.009 |
87.394 |
145.403 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL (B) |
212.515 |
76.683 |
134.811 |
|
|
|
|
|
|
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|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
18.494 |
10.711 |
10.592 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
14.797 |
7.940 |
5.762 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
3.697 |
2.771 |
4.830 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
1.595 |
1.325 |
1.154 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
2.102 |
1.446 |
3.676 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
0.597 |
0.692 |
1.437 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
1.505 |
0.754 |
2.239 |
|
|
|
|
|
|
|
|
|
|
CIF VALUE OF
IMPORTS |
10.890 |
3.212 |
2.832 |
|
|
|
|
|
|
|
|
|
|
Earnings Per Share (Rs.) |
1.73 |
N.A |
N.A |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
0.65
|
0.86 |
1.54 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
0.93
|
1.72 |
2.57 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.88
|
0.93 |
2.17 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.06
|
0.05 |
0.12 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
2.13
|
2.09 |
1.54 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.42
|
1.87 |
1.37 |
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 |
No |
|
10] |
Designation of contact person |
No |
|
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 |
Yes |
|
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 |
Yes |
|
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 |
BANKERS CHARGES
REPORT AS PER REGISTRY :
|
Corporate identity
number of the company |
U31907KA2003PTC031918 |
|
Name of the
company |
P.S.TECHCOM
PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
No. 25, 1st Floor, 9th B Main, 80 Feet Road, Chairmans
Layout, HRBR Layout, Banaswadi, Bangalore - 560043. Karnataka, India Email : prasad@prolabs-vecaun.com
|
|
This form is for |
Creation of charge |
|
Type of charge |
|
|
Particular of
charge holder |
Email : krishnamurthyhn@gmail.com
|
|
Nature of
instrument creating charge |
Hypothecation
Agreement Pronote Letter of
Authority (2 Nos) |
|
Date of
instrument Creating the charge |
20.07.2012 |
|
Amount secured by
the charge |
Rs. 10.000
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest Interest @ 15.25%
p.a. (floating) (WCDPN-Rs.10.000
Millions) Terms of Repayment Loan Period of 3
Months and Repayable on or before Due Date Margin Margin as
Applicable from Bank Extent and Operation of the charge 100% till the
closure of the loan |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
Hypothecation of all the Present and Future Stock in Trade, Finished Goods, Plant and Machineries, Office Equipments’, Computers, Furniture and fixtures and electrical Installations etc., Book Debts and Extension of Equitable Mortgage of Property at Land and Buildings at Site No.2C - 728, 2nd Cross, I Block, HRBR Layout, Kalyan Nagar, Bangalore and Municipal No.3M-217 of East NGEF Layout, (Kasturi Nagar) Bangalore belonging to the Company. |
UNSECURED LOAN :
|
Particulars |
As
on 31.03.2012 |
As
on 31.03.2011 |
|
From Other Parties |
18.399 |
19.981 |
|
From Share Holders |
4.037 |
0.513 |
|
Deferred Payment
Liabilities |
|
|
|
Due to Karnataka State Small Industries Development Corporation Limited [KSSIDC) |
1.606 |
1.183 |
|
Less: installments due
within a year |
|
|
|
Due to KSSIDC |
(1.606) |
0.000 |
|
Total |
22.436 |
21.677 |
FIXED ASSETS :
- Land
- Building
- Office
Equipments
- Computers
- Furniture and
Fixtures
- Electrical
Installation
- Vehicles
- Books
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 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.54.39 |
|
|
1 |
Rs.82.05 |
|
Euro |
1 |
Rs.69.59 |
INFORMATION DETAILS
|
Report Prepared
by : |
RSMK |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
4 |
|
--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 |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
33 |
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.