MIRA
INFORM REPORT
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Report Date : |
26.04.2013 |
IDENTIFICATION DETAILS
|
Name : |
UNISOURCE PAPERS PRIVATE LIMITED (w.e.f. 11.12.2007) |
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Formerly Known
As : |
J AND H SALES (INDIA) PRIVATE LIMITED |
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Registered
Office : |
201/202 – A, Angelina Apartments, 2nd Floor, Old Police
Station Road, Vile Parle (West), Mumbai – 400056, Maharashtra |
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Country : |
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Financials (as
on) : |
31.03.2012 |
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Date of Incorporation
: |
07.02.2005 |
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Com. Reg. No.: |
11-189684 |
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Capital
Investment / Paid-up Capital : |
Rs. 47.500 Millions |
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CIN No.: [Company Identification
No.] |
U51909MH2005PTC189684 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturing of Processing Papers. |
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No. of Employees
: |
40 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (26) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
USD 110000 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having a moderate track record.
There appear huge accumulated losses recorded by the company. The liquidity
position seems to be weak. However, trade relations are reported to be fair. Business is active.
Payments are slow. 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.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
|
Rating |
C+ (Fund Based Cash Credit) |
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Rating Explanation |
Having very high risk of default regarding timely servicing of
financial obligation |
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Date |
August 2012 |
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 : |
Ms. Smita |
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Designation : |
Accounts Department |
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Contact No.: |
91-22-26136600 |
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Date : |
25.04.2013 |
LOCATIONS
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Registered/ Head Office : |
201/202 – A, Angelina Apartments, 2nd Floor, Old Police Station
Road, Vile Parle (West), Mumbai – 400056, Maharashtra, India |
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Tel. No.: |
91-22-26136600 |
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Fax No.: |
91-22-26175455 |
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E-Mail : |
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Website : |
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Location : |
Rented |
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Factory 1 : |
Gat No. 280, Plot No. ˝/3 and 15, Kuruli, Nanekarwadi, Taluka Khed,
District Pune – 410501, Maharashtra, India |
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Location : |
Owned |
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Factory 2 : |
Gat No. 1033 and 1034, Plot No. 619, Village Shiroli, Taluka Rajguru
Nagar, District Pune – 410505, Maharashtra, India |
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Tel. No.: |
91-2135-306809/18 |
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Fax No.: |
91-2135-306816 |
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E-Mail : |
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Location : |
Owned |
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Sales Office : |
Commissariat Building, 1st Floor, 231, Dr D N Road, Fort,
Mumbai-400001, Maharashtra, India |
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Tel. No.: |
91-22-22614611 / 22641991 |
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E-Mail : |
DIRECTORS
AS ON 28.09.2012
|
Name : |
Mr. Inder Aurora |
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Designation : |
Director |
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Address : |
41/ 42,
Muktangan, 4th
Floor, Sarojini Road, Santacruz (West), Mumbai – 400054, Maharashtra, India |
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Date of Birth/Age : |
12.07.1961 |
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Date of Appointment : |
07.02.2005 |
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DIN No.: |
00625001 |
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Name : |
Ms. Arti Aurora |
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Designation : |
Director |
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Address : |
41/ 42, Muktangan, 4th
Floor, Sarojini Road, Santacruz (West), Mumbai – 400054, Maharashtra, India |
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Date of Birth/Age : |
17.04.1962 |
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Date of Appointment : |
28.09.2007 |
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DIN No.: |
00983222 |
KEY EXECUTIVES
|
Name : |
Ms. Smita |
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Designation : |
Accounts Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 28.09.2012
|
Names of Shareholders |
No. of Shares |
|
Inder Aurora |
5000 |
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Harmeet Baxi, UK |
300000 |
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Ranjit Baxi, UK |
250000 |
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Tradecom International Private Limited, India |
3695000 |
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Michael Kelso, USA |
500000 |
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TOTAL
|
4750000 |
AS ON 19.01.2013
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Names of Allottees |
No. of Shares |
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Investments Squares Pte Limited, Singapore |
2079190 |
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Inder Aurora |
944000 |
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Tradecom International Private Limited, India |
226810 |
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TOTAL
|
3250000 |
AS ON 28.09.2012
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Equity Shares
Break Up |
Percentage of
Holding |
|
Foreign holdings( Foreign institutional investor(s),
Foreign companie(s) Foreign financial institution(s), Non-resident Indian(s)
or Overseas Corporate bodies or Others |
22.10 |
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Bodies corporate |
77.79 |
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Directors or relatives of Directors |
0.11 |
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TOTAL |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturing of Processing Papers. |
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Products : |
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Terms : |
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Selling : |
L/C, Cash, Credit |
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Purchasing : |
L/C, Cash, Credit |
PRODUCTION STATUS (AS ON 31.03.2012)
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PARTICULARS |
Actual
Production |
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Paper |
6140396 |
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Paper Wool |
301332 |
GENERAL INFORMATION
|
Suppliers : |
·
PCS Technology Limited ·
Shree Sai Enterprises ·
Sayandeep Computers ·
Yes Logistics ·
Valbhav Services Centre ·
Gautam Enterprises ·
G A Paper International ·
Global Impex Inc ·
Kalptaru Papers Limited |
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Customers : |
·
Reliance Packing Industries ·
Abha Packaging ·
C I Corporation ·
Concept Specially Pack Private Limited ·
Fibre Foils Limited ·
Gajanan Packwell Private Limited ·
Indo Afrique Paper Mills Private Limited |
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No. of Employees : |
40 (Approximately) |
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Bankers : |
·
Vijaya Bank, Fort Branch, Emca House, 289, S. B.
S. Road, Mumbai – 400001, Maharashtra, India |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Shan and Chhadva Chartered Accountant |
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Address : |
313, Janmabhoomi Chambers, 29, Walchand, Hirachand Marg, Mumbai –
400001, Maharashtra, India |
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Tel. No.: |
91-22-22616228/ 22705659 |
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E-Mail : |
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PAN No.: |
AABPS9137P |
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Holding Company : |
·
Tradecom International Private Limited CIN No.:- U51396MH1995PTC087180 |
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Associates : |
Garima Trade Services Private Limited |
CAPITAL STRUCTURE
AS ON 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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5000000 |
Equity Shares |
Rs.10/- each |
Rs. 50.000 Millions |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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|
4750000 |
Equity Shares |
Rs.10/- each |
Rs. 47.500
Millions |
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AS ON 28.09.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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8000000 |
Equity Shares |
Rs.10/- each |
Rs. 80.000 Millions |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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8000000 |
Equity Shares |
Rs.10/- each |
Rs. 80.000 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 |
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1] Share Capital |
47.500 |
37.500 |
32.500 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
(19.437) |
(16.375) |
(13.952) |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
28.063 |
21.125 |
18.548 |
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LOAN FUNDS |
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1] Secured Loans |
27.766 |
34.603 |
46.315 |
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2] Unsecured Loans |
16.340 |
5.590 |
6.130 |
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TOTAL BORROWING |
44.106 |
40.193 |
52.445 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
72.169 |
61.318 |
70.993 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
47.208 |
44.775 |
40.264 |
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Capital work-in-progress |
20.099 |
0.804 |
0.000 |
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INVESTMENT |
0.000 |
0.000 |
0.010 |
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DEFERREX TAX ASSETS |
2.011 |
2.690 |
3.605 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
23.571
|
30.888
|
23.764 |
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Sundry Debtors |
26.978
|
13.980
|
30.290 |
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Cash & Bank Balances |
9.201
|
9.473
|
0.006 |
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Other Current Assets |
0.000
|
0.000
|
0.000 |
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Loans & Advances |
5.317
|
6.217
|
7.717 |
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Total
Current Assets |
65.067
|
60.558 |
61.777 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditors |
52.454
|
38.443 |
32.523 |
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Other Current Liabilities |
9.006
|
7.927
|
1.535 |
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Provisions |
0.756
|
1.139
|
0.607 |
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Total
Current Liabilities |
62.216
|
47.509 |
34.665 |
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Net Current Assets |
2.851
|
13.049
|
27.112 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
72.169 |
61.318 |
70.993 |
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PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
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SALES |
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Income |
259.069 |
229.339 |
158.356 |
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Other Income |
0.924 |
0.555 |
2.587 |
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TOTAL (A) |
259.993 |
229.894 |
160.943 |
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Less |
EXPENSES |
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Office Expenses |
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Administrative Expenses |
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Advertising Expenses |
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TOTAL (B) |
252.860 |
223.081 |
147.215 |
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Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
7.133 |
6.813 |
13.728 |
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Less |
FINANCIAL
EXPENSES (D) |
6.963 |
6.019 |
6.065 |
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PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
0.170 |
0.794 |
7.663 |
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Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
2.526 |
2.302 |
1.927 |
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PROFIT / (LOSS) BEFORE
TAX (E-F) (G) |
(2.356) |
(1.508) |
5.736 |
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Less |
TAX (H) |
NA |
0.915 |
NA |
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PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
NA |
(2.423) |
NA |
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|
Earnings Per
Share (Rs.) |
-- |
(0.64) |
-- |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
NA
|
(1.05) |
NA |
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|
Net Profit Margin (PBT/Sales) |
(%) |
(0.91)
|
(0.66) |
3.62 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
(2.06)
|
(1.40) |
5.43 |
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Return on Investment (ROI) (PBT/Networth) |
|
(0.08)
|
(0.07) |
0.31 |
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Debt Equity Ratio (Total Debt /Networth) |
|
1.57
|
1.90 |
2.83 |
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Current Ratio (Current Asset/Current Liability) |
|
1.05
|
1.27 |
1.78 |
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 |
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 |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
Yes |
|
18] |
Major customers |
Yes |
|
19] |
Payments terms |
Yes |
|
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 |
Yes |
|
Unsecured Loan |
Rs.
In Millions 31.03.2012 |
Rs.
In Millions 31.03.2011 |
|
Long Term
Borrowings |
|
|
|
Loans and advances from related parties |
16.340 |
5.590 |
|
|
|
|
|
TOTAL |
16.340 |
5.590 |
SUNDRY CREDITORS
DETAILS
(Rs.
In Millions)
|
Particulars |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
Sundry Creditors
|
|
|
|
|
Gautam Enterprises |
38.605
|
32.509 |
|
|
G A Paper International |
0.000
|
5.934 |
|
|
American Papers Export Inc |
1.718
|
0.000 |
|
|
Global Impex Inc |
2.714
|
0.000 |
|
|
Newport Ch International LLC |
9.295
|
0.000 |
|
|
Ram Techno Pack |
0.066 |
0.000 |
|
|
Kalptaru Papers Limited |
0.056 |
0.000 |
|
|
TOTAL |
52.454
|
38.443 |
32.523 |
PERFORMANCE
During this year, the company’s overall revenue has increased however,
it has resulted in loss of Rs. 2.356 Million.
The company has incurred loss during the year due to increase in
operating expenses. The increase in raw materials cost, and increase in other
cost had an impact on the profitability of the firm. There has been increase in
the turnover of the company, hence the total revenue from operating activities
has been increased to Rs. 259.994 Million as compared to Rs. 229.895 Millions
in last financial year. They have made all efforts to keep the company’s
business is growth trajectory and have succeeded marginally through support of
their employees and customers. They hope that business of company will show
sharp growth in coming financial years.
FORM 8
|
Corporate
identity number of the company |
U51909MH2005PTC189684 |
|
Name of the
company |
UNISOURCE PAPERS PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
201/202 – A, Angelina Apartments, 2nd Floor, Old Police
Station Road, Vile Parle (West), Mumbai – 400056, Maharashtra, India Email Id : inder.aurora@unipaper.in |
|
This form is for |
Modification of
charge |
|
Charge
identification number of the charge to be modified |
10063831 |
|
Type of charge |
·
Book
debts ·
Movable
property (not being pledge) ·
Others |
|
Particular of
charge holder |
Vijaya Bank, Fort
Branch, Emca House, 289, S. B. S. Road, Mumbai – 400001, Maharashtra, India Email Id : mum.fort5007@vijayabank.co.in |
|
Nature of
instrument creating charge |
Supplementary agreement,
Letter by Vijaya Bank under ref: VB:FB:DGM: UPPL: 2011-12. |
|
Date of
instrument Creating the charge |
07.03.2012 |
|
Amount secured by
the charge |
Rs. 74.199
Millions |
|
Brief of the principal
terms an conditions and extent and operation of the charge |
Rate of interest WC(except CC) and
SL facilities: As per existing terms of bank sanction. On CC: Base Rate
(10.65%) + 4.85% i.e. 15.50% p.a. (floating) or at such other rate as may be fixed
by the bank from time to time Terms of repayment - CC and FLC/ILC:
On demand - WCTL and SL 1
to 3: As per existing terms of bank sanction Margin As per existing
terms of bank sanction Extent and operation of the charge Security created by
way of first charge and to cover the principal amount together with interest,
commitment charges, commission, discount, costs, expenses etc. Other Security created
in respect of the following credit facilities: - CC: Rs.15.000
Millions - WCTL: Rs.7.339 Millions - Secured Loan-1
to 3: Rs.11.860 Millions - FLC / ILC Rs.40.000 Millions Total... Rs.74.199
Millions |
|
Short particulars
of the property charged (Including location of the property) |
Plant and
machinery, furniture and fixtures, office equipments and vehicles purchased
and installed at Gat No.280, Plot No.1, 2, 3 and 15 of Village Nanekarwadi,
Taluka Khed, District Pune. Plant and machinery,
furniture and fixtures, office equipments and vehicles purchased and
installed at Gat No. 1033, 1034, Plot No.169 of Village Shiroli, Taluka Khed,
Post Rajgurunagar, District Pune. Whole of the
present and future stocks of raw materials, goods in process or manufacture and all finished and
manufactured goods and articles such as stock of paper rolls / sheets and
book debts / entire current assets together with all stores, components and
spares which now belong to or may hereafter time to time belong to the
company and which are or shall or may be brought into stored or be in or upon
or about the company’s factory, godown and / or other premises at Gat No.280,
Plot No. 1, 2, 3 and 15, Kuruli, Nanekarwadi, Khed Taluka, District Pune
410501 or wherever else the same may be situated stored or lying or being
including any such raw materials, articles or goods, stores, spares and
components or other similar movable property in course of transit or delivery
to the company. All present and future
book debts, outstanding monies, receivables, claims, bills, rights to or
movable asset and which are now due owing or payable or belonging to the
company or which may at any time hereafter become due, owing, payable or
belonging to the company in the course of its business. |
|
Date of
instrument modifying the charge |
29.10.2007 |
|
Particulars of
the present modification |
At the request of
the Company, Vijaya Bank has renewed the credit facilities which stands
revised at Rs.74.199 Millions. |
FIXED ASSETS
·
Computers and Printers
·
Electrical Fittings
·
Land and Buildings
·
Factory Land
·
Motor Car
·
Office Equipments
·
Plant and Machinery
·
Furniture and Fixtures
·
Laboratory Equipments
·
Factory Equipments
·
Mobile Phone
·
SAP Installation in
Progress
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. 54.29 |
|
|
1 |
Rs. 82.87 |
|
Euro |
1 |
Rs. 70.80 |
INFORMATION DETAILS
|
Information Gathered
by : |
PLK |
|
|
|
|
Report Prepared
by : |
DPT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--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 |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
26 |
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.