MIRA
INFORM REPORT
|
Report Date : |
16.04.2013 |
IDENTIFICATION DETAILS
|
Name : |
SARAF FINTRADE PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Saraswati Nilaya No.747/42, 5th Main Road, 4th Cross,
Vijayanagar, Bangalore – 560040, Karnataka, India |
|
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|
Country : |
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|
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Financials (as
on) : |
31.03.2012 |
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|
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|
Date of
Incorporation : |
24.05.1999 |
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|
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|
Com. Reg. No.: |
08-025249 |
|
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|
|
Capital Investment
/ Paid-up Capital : |
Rs.11.000
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U67120KA1999PTC025249 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
BLRS11389A |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAFCS6577E |
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|
Legal Form : |
Private Limited Liability Company |
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|
Line of Business
: |
The Company is engaged in the trading of various types of Granules, LLDPE, Adhesive Tape, HDPE, LLDPE Lamination, Non Woven Fabric, etc. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (34) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 90000 |
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|
|
Status : |
Moderate |
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|
|
Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Even though the company was incorporated in the year 1999, the company
started its core business operation from the year 2011. The company is having
moderate track record. The performance capability of the company is moderate
due to low profitability. However, the company has achieved better growth in the turnover during
2012. Trade relations are reported as fair. Business is active. Payments are
reported to be slow but correct. The company be can be considered for business dealings with slight
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 |
|
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 : |
Saraswati Nilaya No.747/42, 5th Main Road, 4th
Cross, Vijayanagar, Bangalore – 560040, Karnataka |
|
Tel. No.: |
Not Available |
|
Fax No.: |
Not Available |
|
E-Mail : |
DIRECTORS
As on: 27.08.2012
|
Name : |
Mr. Arun Kumar Khetan |
|
Designation : |
Director |
|
Address : |
37/12 -1, Archana Complex 4TH Cross, Lai Bagh Road Bangalore – 560027, Karnataka, India |
|
Date of Appointment : |
11.10.2010 |
|
DIN No.: |
00186335 |
|
|
|
|
Name : |
Mrs. Munni Devi Saraf |
|
Designation : |
Director |
|
Address : |
No. 747/42, Saraswati Nilaya, 5th Main, 4th Cross, Vijaya Nagar, Bangalore 560 040, Karnataka, India |
|
Date of Birth/Age : |
15.11.1960 |
|
PAN No.: |
ANPPS6174B |
|
Date of Appointment : |
26.10.2010 |
|
DIN No.: |
03296873 |
|
|
|
|
Name : |
Mr. Krishan Kadmawala |
|
Designation : |
Director |
|
Address : |
A-91, Nandanvan-1, Nr.Chandan Party Plot, Jodhapur Satellite, Ahmedabad, Guiarat-380015, India |
|
PAN No.: |
AQFPK7389H |
|
Date of Appointment : |
05.08.2012 |
|
DIN No.: |
03558831 |
MAJOR SHAREHOLDERS
As on: 27.08.2012
|
Names of Shareholders |
|
No. of Shares |
|
Arun Kumar Khetan |
|
200 |
|
Santosh Saraf |
|
13800 |
|
Murli Manohar Saraf |
|
7900 |
|
Saraswati Devi Saraf |
|
3100 |
|
Murli Manohar Saraf (HUF) |
|
10000 |
|
Rajesh Bihari Sharma |
|
15000 |
|
Dilip Kumar Vaid |
|
2000 |
|
Munni Devi Saraf |
|
6000 |
|
Rajendra Yadav |
|
3000 |
|
Binod Singh |
|
3000 |
|
Rajneesh Khandelwal |
|
3000 |
|
Anil Singh |
|
3000 |
|
Panchdev Yadav |
|
2000 |
|
Basant Verma |
|
3000 |
|
Praveen Yadav |
|
3000 |
|
Khogen bhanza |
|
3000 |
|
Surendra Kumar Agarawal |
|
5000 |
|
Brijesh Kumar |
|
4000 |
|
H Umesh Verma |
|
4000 |
|
Sanjay Kumar Singh |
|
4000 |
|
Nakul Charan Dwibedi |
|
4000 |
|
Niraj Kumar Pandy |
|
4000 |
|
Avinash Kumar Pandy |
|
4000 |
|
Krishan Kadmawala |
|
2250 |
|
Total |
|
112250 |
Equity Share Break up (Percentage of Total Equity)
As on: 27.08.2012
|
Category |
Percentage |
|
Directors or relatives of Directors |
39.00 |
|
Others |
61.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
The Company is engaged in the trading of various types of Granules, LLDPE, Adhesive Tape, HDPE, LLDPE Lamination, Non Woven Fabric, etc. |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
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|
|
|
Bankers : |
· State Bank of India, Commercial Branch, Rajaji Nagar, Bangalore, Karnataka, India · State Bank of Travancore, IFB Branch, Bangalore, Karnataka, India · State Bank of India, Ahmedabad, Gujarat, India · HDFC Bank, Ahmedabad, Gujarat, India |
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
V.K.Soni and Company Chartered Accountants |
|
Address : |
501-B Parshwa Tower, 5th Floor, Opposite Rajpath Club, Judges Bunglows Sarkhej, Ghandhinagar Highway, Ahmedabad – 380054, Gujarat, India |
|
PAN No.: |
AADFV2811R |
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Enterprises under
significant influence of key management personnel: |
· Tortoise Real Estate Private Limited · MMS Trading Private Limited · Northstar Vanijya Private Limited · Pradeep Industrial Packers Private Limited |
CAPITAL STRUCTURE
As on: 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
125000 |
Equity Shares |
Rs.100/- each |
Rs.12.500 Millions |
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|
|
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|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
110000 |
Equity Shares |
Rs.10/- each |
Rs.11.000
Millions |
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|
|
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|
As on: 27.08.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
125000 |
Equity Shares |
Rs.100/- each |
Rs.12.500 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
112250 |
Equity Shares |
Rs.100/-
each |
Rs.11.225
Millions |
|
|
|
|
|
Reconciliation of the
number of Equity Shares outstanding as at the beginning and at the end of the
reporting period is as under:
|
|
Number of shares |
Amount ( in Millions |
|
Particulars |
As at March 31.2012 |
As at March 31. 2012 |
|
At the beginning of the period |
110,000 |
11.000 |
|
Add: Shares issued during the period |
-- |
-- |
|
At the end of the
period |
110.000 |
11.000 |
Details of
Shareholders holding more than 5% of Equity Shares:
|
Name of
Shareholders |
March 31, 2012 |
|
|
|
No. of shares |
% of Holding |
|
- Rajesh Bihari Sharma |
15,000 |
13.64% |
|
- Santosh Saraf |
13,800 |
12.55% |
|
- Murii Manohar Saraf (HUF) |
10,000 |
9.09% |
|
- Murli Manohar Saraf |
7,900 |
7.18% |
|
- Munni Devi Saraf |
6,000 |
5.45% |
Rights, preference and
restrictions attached to shares
The Company has only one class of equity shares having a face value of Rs. 100/- per share. Each holder of equity shares is entitled to one vote per share. The dividend if proposed by the Board of Directors is subject to the approval of the Shareholders of the Company. The dividend so declared will be in proportion to the number of equity shares held by the Shareholders. In the event of liquidation, the Equity Shareholders are eligible to receive the remaining assets of the Company after distribution of all preferential amounts, if any, in proportion to their shareholding.
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 |
11.000 |
11.000 |
11.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
11.591 |
10.353 |
9.980 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
22.591 |
21.353 |
20.980 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
0.128 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
0.000 |
0.000 |
0.128 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
22.591 |
21.353 |
21.108 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
0.329 |
0.251 |
0.137 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
4.616 |
2.975 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.011 |
0.012 |
0.020 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
42.706
|
8.006 |
0.000
|
|
|
Sundry Debtors |
21.861
|
9.871 |
0.000
|
|
|
Cash & Bank Balances |
3.284
|
28.339 |
2.906
|
|
|
Other Current Assets |
0.000
|
0.225 |
0.000
|
|
|
Loans & Advances |
36.058
|
1.777 |
18.066
|
|
Total
Current Assets |
103.909
|
48.218 |
20.972 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
82.626
|
29.699 |
0.015
|
|
|
Other Current Liabilities |
3.593
|
0.366 |
0.000
|
|
|
Provisions |
0.055
|
0.038 |
0.006
|
|
Total
Current Liabilities |
86.274
|
30.103 |
0.021 |
|
|
Net Current Assets |
17.635
|
18.115 |
20.951
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
22.591 |
21.353 |
21.108 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
239.124 |
48.847 |
0.000 |
|
|
|
Other Income |
1.558 |
1.389 |
0.602 |
|
|
|
TOTAL (A) |
240.682 |
50.236 |
0.602 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Traded |
233.467 |
|
0.347 |
|
|
|
Employee benefit expenses |
1.784 |
0.752 |
|
|
|
|
Other expenses |
3.472 |
0.984 |
|
|
|
|
TOTAL (B) |
238.723 |
49.009 |
0.347 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
1.959 |
1.227 |
0.255 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
0.080 |
0.631 |
0.004 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
1.879 |
0.596 |
0.251 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
0.083 |
0.055 |
0.048 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
1.796 |
0.541 |
0.203 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
0.558 |
0.167 |
0.063 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
1.238 |
0.374 |
0.140 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
1.353 |
0.979 |
0.839 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
2.591 |
1.353 |
0.979 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Traded Goods |
174.714 |
29.815 |
0.000 |
|
|
TOTAL IMPORTS |
174.714 |
29.815 |
0.000 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
11.26 |
3.40 |
1.27 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
0.51
|
0.74 |
23.26
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
0.75
|
1.11 |
0.00
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.72
|
1.12 |
0.96
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.08
|
0.03 |
0.01
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.00
|
0.00 |
0.01
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.20
|
1.60 |
998.67
|
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 |
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 |
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 |
Yes |
|
30] |
Major Shareholders, if available |
Yes |
|
31] |
Date of Birth of Proprietor/Partner/Director, if available |
No |
|
32] |
PAN of Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
No |
FINANCIAL RESULTS:
During the year, the Company achieved turnover and other income of Rs.239.124 Millions as against turnover of Rs. 48.846 Millions achieved during the previous year 2010-11. The Company has earned EBITDA of Rs. 1.879 Millions which is more by three times or less similar to EBITDA for F.Y. 2010-11. The director's expect the Company to show improved performance in the years to come.
FIXED ASSETS:
· Air Conditioner
· Computer
· Printer
· Laptop
· Furniture and Fixtures
· Weight Machine
· Tape Slicer Machine
· Vehicle Motor Bike
· Office Equipment
· Car
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.54.63 |
|
|
1 |
Rs.83.70 |
|
Euro |
1 |
Rs.71.42 |
INFORMATION DETAILS
|
Report Prepared
by : |
RAJ |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
--DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
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.