MIRA INFORM REPORT
|
Report Date : |
05.04.2013 |
IDENTIFICATION DETAILS
|
Name : |
SELLOWRAP INDUSTRIES PRIVATE LIMITED (w.e.f. 16.02.2011) |
|
|
|
|
Formerly Known
As : |
SELLOWRAP MANUFACTURING PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
208, Plot NO. C 5, Abhishek Building, Dalia Estate, New Link Road,
Andheri (West), Mumbai-400053, Maharashtra |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
06.04.2004 |
|
|
|
|
Com. Reg. No.: |
145548 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 94.903
millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U25202MH2004PTC145548 |
|
|
|
|
Legal Form : |
Private Limited Liability Company. |
|
|
|
|
Line of Business
: |
Manufacturer and processor of different grades of foam and molded
plastic fastener products that are used for insulation. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (31) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 810864 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow But Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having a moderate track record.
Profitability of the company is low. However, Trade relations are 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 – April 1, 2010
|
Country Name |
Previous Rating (31.12.2009) |
Current Rating (01.04.2010) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
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.
LOCATIONS
|
Registered Office / Head Office : |
208, Plot NO. C 5, Abhishek Building, Dalia Estate, New Link Road,
Andheri (West), Mumbai-400053, Maharashtra, India |
|
Tel. No.: |
91-22-66750560 |
|
Fax No.: |
91-22-66750561 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Plant Location I : |
Plot No.54, Maruti Industrial Estate, Sector 18, Gurgaon-122015,
Haryana, India |
|
Tel. No.: |
91-124-4015973 |
|
Fax No : |
91-124-4015975 |
|
E-Mail : |
|
|
|
|
|
Plant Location II : |
Plot No.70-72, Sector-7, Growth Centre Industrial Estate, Bawal,
District Rewari, Haryana, India |
|
Tel No : |
91-128-4264451 /52 |
|
Fax No : |
91-128-4264453 |
DIRECTORS
AS ON: 30.09.2012
|
Name : |
Mr. Saurabh Poddar |
|
Designation : |
Director |
|
Address : |
A 501, Fairyland Cooperative Housing Society Limited, Plot No.9 A, 10th
Road, Juhu, Vile Parle (West), Mumbai-400049, Maharashtra, India |
|
Date of Birth/Age : |
28.12.1973 |
|
Date of Appointment : |
24.05.2005 |
|
DIN No : |
00032858 |
|
|
|
|
Name : |
Mr. Sushil Poddar |
|
Designation : |
Director |
|
Address : |
F -704, Somvihar Apartment, R. K. Puram, New Delhi-110022, Delhi,
India |
|
Date of Birth/Age : |
01.01.1947 |
|
Date of Appointment : |
06.04.2004 |
|
DIN No : |
00149285 |
|
|
|
|
Name : |
Mr. Ravi Jajodia |
|
Designation : |
Director |
|
Address : |
Plot No.55, Ajmera Garden, Ajmera Road, Jaipur-302019, Rajasthan,
India |
|
Date of Birth/Age : |
18.04.1961 |
|
Date of Appointment : |
18.03.2009 |
|
Date of Cessation: |
26.11.2012 |
|
DIN No : |
02297549 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON: 30.09.2012
|
Names of Shareholders |
No. of Shares |
|
Sushil Kumar Poddar |
2009600 |
|
Saurabh Poddar |
1555200 |
|
Meena Poddar |
342500 |
|
Pooja Poddar |
995000 |
|
S. K. Poddar and Sons HUF |
191000 |
|
Saurabh Marketing Private Limited, India |
2477000 |
|
Anupama Bajoria |
250000 |
|
Aparna Polyflex Private Limited, India |
75000 |
|
Arvind Chemicals Limited |
810000 |
|
Arvind Exports |
70000 |
|
Kaizen Organics Private Limited, India |
200000 |
|
Aditya Rungta HUF |
10 |
|
Shyamsunder Rungta HUF |
10 |
|
Arvind Coir Foam Private Limited, India |
250000 |
|
Arvind International Limited, India
|
265000 |
|
Total |
9490320 |
LIST OF ALLOTEES
|
Names of Shareholders |
No. of Shares
Allotted |
|
Meena Poddar |
2500 |
|
Pooja Poddar |
5000 |
|
Saurabh Poddar |
7700 |
|
Saurabh Marketing Private Limited, India |
27000 |
|
S K Poddar and Sons HUF |
1000 |
|
Sushil Kumar Poddar |
17100 |
|
Arvind Coir Foam Private Limited, India |
250000 |
|
Arvind International Limited, India |
265000 |
|
Total |
575300 |
AS ON: 30.09.2012
|
Equity Share
Breakup |
|
Percentage of
Holding |
|
Category |
|
|
|
Bodies corporate |
|
42.96 |
|
Directors or relatives of directors |
|
53.67 |
|
Other |
|
3.37 |
|
|
Total
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and processor of different grades of foam and molded
plastic fastener products that are used for insulation. |
GENERAL INFORMATION
|
No. of Employee: |
Not Available |
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Bankers : |
v Bank of India, Juhu
Branch, Plot No.6-B, Nehru Nagar A, Juhu Tara Road, Mumbai-400049,
Maharashtra, India v ABN Amro Bank v Kotak Mahindra
Bank Limited v Standard
Chartered Bank v ICICI Bank |
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Khurdia Jain and Company Chartered Accountant |
|
Address : |
C-1, 309, Bharateeya Kala, Om Nagar, Sahar Pipeline Road, Andheri
(East), Mumbai-400099, Maharashtra, India |
|
|
|
|
Associate : |
Sellowrap EPP India Private Limited CIN No: U24130MH2005PTC155220 |
CAPITAL STRUCTURE
AS ON: 30.09.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
16000000 |
Equity Shares |
Rs. 10/- each |
Rs. 160.000 millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
9490320 |
Equity Shares |
Rs. 10/- each |
Rs. 94.903
millions |
|
|
|
|
|
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 |
94.903 |
89.150 |
89.150 |
|
|
2] Share Application Money |
0.000 |
5.753 |
5.633 |
|
|
3] Reserves & Surplus |
107.813 |
105.572 |
20.337 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
202.716 |
200.475 |
115.120 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
155.843 |
149.413 |
123.615 |
|
|
2] Unsecured Loans |
28.907 |
12.999 |
10.174 |
|
|
TOTAL BORROWING |
184.750 |
162.412 |
133.789 |
|
|
DEFERRED TAX LIABILITIES |
1.333 |
1.671 |
1.095 |
|
|
|
|
|
|
|
|
TOTAL |
388.799 |
364.558 |
250.004 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
216.056 |
229.394 |
117.005 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
72.649 |
72.649 |
72.649 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
53.514
|
36.025
|
29.666
|
|
|
Sundry Debtors |
124.627
|
81.011
|
59.381
|
|
|
Cash & Bank Balances |
5.920
|
5.259
|
25.467
|
|
|
Other Current Assets |
1.584
|
0.336
|
0.000
|
|
|
Loans & Advances |
18.815
|
22.673
|
17.113
|
|
Total
Current Assets |
204.460
|
145.304
|
131.627
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
60.688
|
51.805
|
54.642
|
|
|
Other Current Liabilities |
43.678
|
30.984
|
16.635
|
|
|
Provisions |
0.000 |
0.000 |
0.000
|
|
Total
Current Liabilities |
104.366
|
82.789
|
71.277
|
|
|
Net Current Assets |
100.094
|
62.515
|
60.350
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
388.799 |
364.558 |
250.004 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2010 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
418.076 |
332.358 |
220.361 |
|
|
|
Other Income |
4.487 |
4.935 |
1.373 |
|
|
|
TOTAL |
422.563 |
337.293 |
221.734 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
419.122 |
335.690 |
200.427 |
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
419.122 |
335.690 |
200.427 |
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
3.441 |
1.603 |
21.307 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
1.200 |
0.405 |
17.491 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
2.241 |
1.198 |
3.816 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
12.335 |
11.137 |
7.321 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
14.576 |
12.335 |
11.137 |
|
|
|
|
|
|
|
|
|
|
Earring Per
Share |
0.23 |
-- |
0.42 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
0.53
|
0.35
|
1.72
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
0.82
|
0.48
|
9.67
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.81
|
0.42
|
8.57
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.02
|
0.01
|
0.18
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.91
|
0.81
|
1.79
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.95
|
1.75
|
1.85
|
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 |
-- |
|
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 |
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 |
Yes |
|
30] |
Major Shareholders, if available |
Yes |
|
31] |
PAN of Proprietor/Partner/Director, if
available |
-- |
|
32] |
Passport No of Proprietor/Partner/Director,
if available |
-- |
|
33] |
Voter ID No of Proprietor/Partner/Director,
if available |
-- |
|
34] |
External Agency Rating, if available |
No |
FROM 8
|
Corporate
identity number of the company |
U25202MH2004PTC145548 |
|
Name of the
company |
SELLOWRAP INDUSTRIES PRIVATE LIMITED (w.e.f. 16.02.2011) |
|
Address of the
registered office or of the principal place of business in |
208, Plot NO. C 5, Abhishek Building, Dalia Estate, New Link Road,
Andheri (West), Mumbai-400053, Maharashtra |
|
This form is for |
Modification of
charge |
|
Type of charge |
Immovable
property |
|
Particular of
charge holder |
Bank of India, Juhu Branch, Plot No.6-B, Nehru Nagar A, Juhu Tara
Road, Mumbai-400049, Maharashtra, India. |
|
Nature of
instrument creating charge |
Entry No.222 for
Record of Oral Assent. |
|
Date of
instrument Creating the charge |
01.06.2012 |
|
Amount secured by
the charge |
Rs. 89.900
millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of interest Interest/Commission
at the rate/s as may be notified by Bank from time to time. Terms of repayment Cash Credit - On Demand
and Term Loan as per existing guidelines Margin CC (Stocks)- 25%
,CC (Book Debts)- 40%, Term Loan-15% or as required by the Bank from time to
time. Extent and operation of the charge Company has ceded
Second Charge on immovable property,as described at S.No.15 below for the
enhanced CC Limit of Rs.62.500 millions and TL Limit of Rs.27.400 millions
aggregating to Rs.89.900 millions and SIDBI, Bandra Kurla Complex, Bandra
(East) has a First Charge on that property covering its Term Loan facilities,sanctioned
to the Company. Other Limits enhanced
from Rs.77.400 millions to Rs.89.900 millions. |
|
Short particulars
of the property charged (Including location of the property) |
All that piece and
parcel of land or ground (Open plot) admeasuring 6400 sq. Metres bearing Plot
Nos.D/57 and D/58 of Ranjangaon Industrial Area within the Village limit of
Karegaon,Taluke Shirur, within the registration district of Pune city
together with all building and structures thereon and plant and machinery
attached to earth or permanently fastened to anything attached to the earth. |
|
Date of
instrument modifying the charge |
03.01.2011 |
|
Particulars of
the present modification |
Equitable
Mortgage on Company's immovable properties situated at Plot Nos.D/57 and D/58
of Ranjangaon Industrial Area within the village limit of Karegaon,Taluka
Shirur,Dist.Pune, Now CC Limit has increased from Rs.50.000 millions to
Rs.62.500 millions and TL Limit of Rs.27.400 millions aggregating to
Rs.89.900 millions, thus the total charge enhanced from Rs.77.400 millions to
Rs.89.900 millions on Second charge basis with SIDBI as a first charge
holder. |
FIXED ASSETS
ü Lease Hold Land
ü Factory Building
ü Plant and
Machinery
ü Generators
ü Electrical
Installation
ü Furniture and
Fixture
ü Office Equipments
ü Tools and Dies
ü Lab Equipments
ü Computers and Its
Peripherals
ü Computer Software
ü Motor Card
ü Scooters
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.54.64 |
|
|
1 |
Rs.82.41 |
|
Euro |
1 |
Rs.70.08 |
INFORMATION DETAILS
|
Report Prepared
by : |
PRL |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
2 |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
31 |
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.