|
Report Date : |
18.04.2013 |
IDENTIFICATION DETAILS
|
Name : |
BPL TELECOM PRIVATE LIMITED |
|
|
|
|
Formerly Known
As : |
BPL TELECOM LIMITED |
|
|
|
|
Registered
Office : |
Systems House, Palakkad - 678007, Kerala |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2010 |
|
|
|
|
Date of
Incorporation : |
30.12.1994 |
|
|
|
|
Com. Reg. No.: |
09-008513 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.351.733 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U32204KL1994PTC008513 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
CHNB00299F |
|
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|
|
Legal Form : |
Private Limited Liability Company |
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|
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|
Line of Business
: |
Manufacturer and Trader of Communication Equipments |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (32) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 1600000 |
|
|
|
|
Status : |
Moderate |
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|
|
|
Payment Behaviour : |
Unknown |
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|
|
|
Litigation : |
Clear |
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|
Comments : |
Subject is an established company having a moderate track record. The
latest financial (2012 and 2011) are not made available. As per old (2010),
we found that the company has recorded some accumulated losses. The
management denied to disclose any information to us. However, business is
active. Payment terms are unknown. The company can be considered for business dealings with great
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 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
INFORMATION DECLINED
Management Non Co-operative
(91-491-2513151)
LOCATIONS
|
Registered Office / Factory : |
Systems House, Palakkad - 678007, Kerala, India |
|
Tel. No.: |
91-491-2573151/52/53/54 |
|
Fax No.: |
91-491-2533054/2573375/2573150 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Head Office : |
1/1, Palace Road, Bangalore – 560001, Karnataka, India |
|
Tel. No.: |
91-80-22261845/22256388/22203438/22251141 |
|
Fax No.: |
91-80-22202823/22256387 |
|
|
|
|
Branch Office : |
Located at · Ahmedabad · Bangalore · Bhopal · Chandigarh · Chennai · Coimbatore · Delhi · Hyderabad · Guwahati · Cochin · Kolkata · Kozhikode · Lucknow · Mumbai · Nagpur · Pune · Trivandrum · Bhubaneswar ·
Palakkad |
DIRECTORS
As on 23.12.2011
|
Name : |
Mr. Ajit Gopal Nambiar |
|
Designation : |
Managing Director |
|
Address : |
10/3, Cunningham Cresent Road, Cunningham Road Cross, Bangalore –
560052, Karnataka, India |
|
Date of Birth/Age : |
11.07.1963 |
|
Date of Appointment : |
01.01.2006 |
|
Voter ID No.: |
KT/12/085/237273 |
|
DIN No.: |
00228857 |
|
|
|
|
Name : |
Mr. Gopalan Thazath Pollayikodi Nambiar |
|
Designation : |
Director |
|
Address : |
No.4, Ali Asker Road, Bangalore – 560052, Karnataka, India |
|
Date of Birth/Age : |
25.11.1929 |
|
Date of Appointment : |
01.01.2006 |
|
Voter ID No.: |
KT/12/085/237271 |
|
DIN No.: |
00231781 |
|
|
|
|
Name : |
Mr. Shashi Nambiar |
|
Designation : |
Director |
|
Address : |
2993, 12th “B” Main Indiranagar, Hal 2nd Stage, Bangalore
– 560038, Karnataka, India |
|
Date of Birth/Age : |
18.08.1961 |
|
Date of Appointment : |
03.09.2003 |
|
DIN No.: |
00288378 |
|
|
|
|
Name : |
Mr. Subbarao Prabhala |
|
Designation : |
Director |
|
Address : |
37, Haudin Road, Ulsoor, Bangalore – 560042, Karnataka, India |
|
Date of Birth/Age : |
25.07.1933 |
|
Date of Appointment : |
23.02.2000 |
|
Voter ID No.: |
KT/12/086/228151 |
|
DIN No.: |
01302878 |
KEY EXECUTIVES
|
Name : |
Mr. Devanandan Krishnan |
|
Designation : |
Secretary |
|
Address : |
Chandranagar, Palakkad – 678007, Kerala, India |
|
Date of Birth/Age : |
28.08.1952 |
|
Date of Appointment : |
06.11.1995 |
|
PAN No.: |
AFOPK7957H |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 23.12.2011
LIST OF SHAREHOLDER DETAILS FILE ATTACHED
Equity Share Break up (Percentage of Total Equity)
As on 23.12.2011
|
Category |
|
Percentage |
|
Public Financial Institutions |
|
0.56 |
|
Nationalised/Other Banks |
|
1.03 |
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
14.78 |
|
Bodies corporate |
|
83.02 |
|
Directors or relatives of directors |
|
0.61 |
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Trader of Communication Equipments |
||||||||||||
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Products : |
|
PRODUCTION STATUS
As on 31.03.2010
|
Particulars |
Unit |
Licensed
Capacity |
Installed
Capacity |
Actual
Production |
|
|
|
|
|
|
|
Power Line Communication equipments and Accessories |
In Nos |
Not Available |
Not Available |
1366 |
|
Electronic Private Automatic Branch Exchange |
In number of
lines |
Not Available |
Not Available |
25100 |
|
Push Button Telephones |
In Nos |
Not Available |
Not Available |
256675 |
|
|
|
|
|
|
Note:
The Products are assembled from innumerable Components/Parts.
Hence, it is not practicable to furnish quantitative particulars for each item of Consumption.
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
||||||||||||||||||||||||
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|
||||||||||||||||||||||||
|
Bankers : |
Abu Dhabi Commercial Bank, G-3, Embassy Square, Bangalore,
Karnataka, India |
||||||||||||||||||||||||
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|
|
||||||||||||||||||||||||
|
Facilities : |
(Rs.
In Millions)
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
T. Velu Pillai and Company Chartered Accountants |
|
Address : |
642, 4th Main Road, Indira Nagar, Second Stage, Bangalore – 560038,
Karnataka, India |
|
PAN No.: |
AAAFT9088R |
|
|
|
|
Subsidiaries : |
BPL Systems Limited |
|
|
|
|
Related Parties : |
·
BPL
Limited ·
BPL
Technovision Private Limited ·
Ni Micro
Technologies Private Limited |
CAPITAL STRUCTURE
As on 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
40000000 |
Equity Shares |
Rs.10/- each |
Rs.400.000 Millions |
|
1000000 |
Preference Shares |
Rs.100/- each |
Rs.100.000
Millions |
|
|
Total |
|
Rs.500.00
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
35173300 |
Equity Shares |
Rs.10/- each |
Rs.351.733
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
351.733 |
351.733 |
351.733 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
323.212 |
323.212 |
323.212 |
|
|
4] (Accumulated Losses) |
(287.017) |
(301.621) |
(250.126) |
|
|
NETWORTH |
387.928 |
373.324 |
424.819 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
644.436 |
754.921 |
789.829 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
644.436 |
754.921 |
789.829 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
1032.364 |
1128.245 |
1214.648 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
299.550 |
345.986 |
371.435 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.139 |
0.144 |
0.144 |
|
|
DEFERREX TAX ASSETS |
123.962 |
116.319 |
104.405 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
144.719
|
196.007 |
252.928 |
|
|
Sundry Debtors |
618.270
|
625.282 |
536.234 |
|
|
Cash & Bank Balances |
23.718
|
14.537 |
13.205 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
221.354
|
187.361 |
181.231 |
|
Total
Current Assets |
1008.061
|
1023.187 |
983.598 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
189.242
|
139.745 |
76.618 |
|
|
Other Current Liabilities |
210.106
|
217.646 |
168.316 |
|
|
Provisions |
0.000
|
0.000 |
0.000 |
|
Total
Current Liabilities |
399.348
|
357.391 |
244.934 |
|
|
Net Current Assets |
608.713
|
665.796 |
738.664 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
1032.364 |
1128.245 |
1214.648 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Net Sales and Other Income |
777.693 |
532.248 |
963.768 |
|
|
|
TOTAL (A) |
777.693 |
532.248 |
963.768 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials |
441.187 |
345.419 |
550.467 |
|
|
|
Salaries, wages and other benefits |
139.285 |
79.816 |
146.206 |
|
|
|
Manufacturing and other expenses |
135.759 |
92.442 |
142.389 |
|
|
|
Provision for Diminution of Investment |
0.000 |
0.000 |
74.638 |
|
|
|
Extraordinary Items-Income |
(74.886) |
0.000 |
(73.959) |
|
|
|
TOTAL (B) |
641.345 |
517.677 |
839.741 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
136.348 |
14.571 |
124.027 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
76.448 |
49.480 |
116.761 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
59.900 |
(34.909) |
7.266 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
52.939 |
27.324 |
53.026 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
6.961 |
(62.233) |
(45.760) |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
(7.643) |
(10.738 |
(59.263) |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
14.604 |
(51.495) |
13.503 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
(301.621) |
(250.126) |
(263.629) |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
(287.017) |
(301.621) |
(250.126) |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw materials and components |
35.684 |
22.798 |
70.162 |
|
|
|
EPABX |
66.505 |
46.218 |
71.158 |
|
|
|
Push Button Telephones |
19.325 |
16.529 |
19.748 |
|
|
TOTAL IMPORTS |
121.514 |
85.545 |
161.068 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
0.42 |
(1.46) |
0.38 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
1.88 |
(9.68) |
1.40 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
0.90 |
(11.69) |
(4.75) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.53 |
(4.55) |
(3.38) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.02 |
(0.17) |
(0.11) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
1.66 |
2.02 |
1.86 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.52 |
2.86 |
4.02 |
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 |
Yes |
|
25] |
Conduct of the banking account |
-- |
|
26] |
Buyer visit details |
-- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if applicable |
Yes |
|
29] |
Last accounts filed at ROC |
No |
|
30] |
Major Shareholders, if available |
Yes |
|
31] |
Date of Birth of Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
Yes |
|
34] |
External Agency Rating, if available |
No |
BUSINESS OPERATIONS:
The company posted a gross turnover of Rs.815.200 Millions for the year ended 31st March, 2010 compared to Rs.557.800 Millions in the previous accounting year had a six months period. The de-growth in the turnover happened mainly due the cash out flow towards bank settlements, restricting the turnover. Market conditions have started improving and carry forward order position is good. The net profit for the year after tax recorded is Rs.14.600 Millions after considering depreciation, finance charges, deferred tax liability etc compared to a loss of Rs.51.400 Millions in the previous year.
The Power Line Communication Carrier (PLCC) Division recorded a turnover of Rs.425.900 Millions. Digital PLCC testing was successfully completed by Tamil Nadu Electricity Board (TNEB). For Maharashtra State Electricity Board (MSEB), technical modifications have been made based on customer requirement for Protection Coupler. Current Transformers (CT) of 33 KV/ 66 KV /132 KV have been the type approved by CPRI.
The Private Branch Exchange (PBX) Division generated revenue of Rs.259.400 Millions. The purchase Orders from private and Government sector was reasonably good and the Company could add few reputed customers from private as well as public sector.
The Consumer Telecommunication Group (CTG) generated a turnover of Rs.116.800 Millions during the period. 3 new models were introduced to the market.
The IT division posted a turnover of Rs.13.100 Millions registering a positive growth of 15%.
FUTURE OUTLOOK:
The Company is focusing on solutions for power sector – mainly in transmission and distribution. Digital PLCC, Remote Terminal Units (RTUs) and Current Transformer / Potential Transformer (CT/PT) are expected to be rolled out during 2010-11. Meter development and metering solutions are also being targeted to be offered to Power Utilities by 2011-12.
In-house developed IP PBX for 100 ports and 512 ports has successfully undergone trials and is expected to be marketed during 2010-11. In Consumer Telephone segment two more new models and Cordless Phones in 5.80 GHz range are expected to be introduced.
CONTINGENT
LIABILITIES:’
i) Letters of credit established with Scheduled Banks Outstanding
Rs.24.952 Millions (Rs.24.721 Millions)
ii) Guarantees/Counter guarantees given to bankers Rs.54.503 Millions
(Rs.66.394 Millions)
FIXED ASSETS:
·
Land
·
Building
·
Plant and Machinery
·
Furniture and Fixtures
·
Computers
·
R and D Assets-Computers
·
Vehicles
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.53.94 |
|
|
1 |
Rs.82.77 |
|
Euro |
1 |
Rs.71.05 |
INFORMATION DETAILS
|
Information
Gathered by : |
NYN |
|
|
|
|
Report Prepared
by : |
BSN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
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 |
|
32 |
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.