|
Report Date : |
21.12.2013 |
IDENTIFICATION DETAILS
|
Name : |
WADPACK PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
SW-20, Apparel Park, Phase II, Kiadb Industrial Area, Doddaballapur,
Bangalore – 561203, Karnataka |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
27.12.1976 |
|
|
|
|
Com. Reg. No.: |
08-040611 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.11.250 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U28129KA1976PTC040611 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
BLRW00020G |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACW0486F |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturers and Dealers in Containers, Boxes, Packing Wrappings,
Wrappers of all kinds made from Paper and Boards. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (35) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 760000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having a moderate track record. The company is performing well. However, the rating takes into consideration
modest scale of operations and limited scope for bargaining with customers
given the competitive market scenarios. Trade relations are reported fair. Business is active. Payment 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 – March 31st, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
|
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
The current downturn
provides an opportunity to push ahead with reforms to accelerate growth, says the
latest India Development Update report released by the World Bank. The report
says that the adverse effects of rupee depreciation are likely to be offset by
the gains in the exports performance due to improved external competitiveness.
Since May this year, the local currency has depreciated substantially and fell
to a record level of Rs 68.85 to a dollar on August, 28.
A stagflation like
situation appears to have arisen as inflation jumped to an eight month high of
6.46 % for the month of September. It is up from 6.10 % in August. Growth
continues to be muted with factory output plunging to 0.6 % in August.
Onion prices have risen nearly 300 % from last September. Vegetables cost
nearly 90 % more than they did last year. Wake up to the economic contribution
of slum dwellers. They contribute more than 7.5 % to the country’s gross
domestic product, according to a recent study conducted in 50 top cities.
136000 estimated
number of jobs created during the second quarter of the current financial year.
50000 estimated number of additional jobs in the field of corporate social
responsibility in the coming years.
The International
Finance Corporation expects to come out with its rupee linked bonds issue before
the end of 2013 as a part of its plan to raise $ 1 billion. The Apple iPhone 5c
(Rs 41900 for 16 GB variant) and 5s (Rs 53500 for 16GB variant) has been
launched in India from 1st November.
The Land Acquisition
Act to provide just and fair compensation to farmers will come into force from
January 1 next year, said Rural Development Minister Jairam Ramesh. The Act
replaces a 119 year old registration. The Securities and Exchange Board of
India has approved the trading of currency futures on the Bombay Stock
Exchange. The exchange plans to launch the currency futures platform with
advanced trading technology by the end of November.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long Term Bank: BB |
|
Rating Explanation |
Have moderate risk of default |
|
Date |
15.04.2013 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short Term Bank: A4+ |
|
Rating Explanation |
Have minimal degree of safety and carry very
high credit risk. |
|
Date |
15.04.2013 |
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 : |
SW-20, Apparel Park, Phase II, Kiadb Industrial Area, Doddaballapur,
Bangalore – 561203, Karnataka, India |
|
Tel. No.: |
91-80-43347600 |
|
Fax No.: |
91-80-43347613 |
|
E-Mail : |
|
|
Website : |
DIRECTORS
(AS ON 27.09.2013)
|
Name : |
Mr. Kailash Chand Wadhwa |
|
Designation : |
Director |
|
Address : |
21, Ishwar Nagar, New Delhi – 110065, India |
|
Date of Birth/Age : |
15.08.1934 |
|
Date of Appointment : |
27.01.1977 |
|
DIN No.: |
00412613 |
|
Voter ID No.: |
DL/02/006/201298 |
|
|
|
|
Name : |
Mr. Sandeep Wadhwa |
|
Designation : |
Managing Director |
|
Address : |
S-4, Legacy Casero No.18, Block 28, Jakkur Plantations Telehanka,
Bangalore – 5600064, Karnataka, India |
|
Date of Birth/Age : |
05.06.1968 |
|
Date of Appointment : |
01.11.1999 |
|
DIN No.: |
00410122 |
|
Voter ID No.: |
KT/12/085/235530 |
|
|
|
|
Name : |
Mr. Nirmal Wadhwa |
|
Designation : |
Director |
|
Address : |
21, Ishwar Nagar, New Delhi – 110065, India |
|
Date of Birth/Age : |
25.11.1939 |
|
Date of Appointment : |
16.04.2004 |
|
DIN No.: |
00409804 |
|
Voter ID No.: |
DL/02/006/201279 |
|
|
|
|
Name : |
Mrs. Komal Wadhwa |
|
Designation : |
Director |
|
Address : |
S-4, Legacy Casero No.18, Block 28, Jakkur Plantations Telehanka,
Bangalore – 5600064, Karnataka, India |
|
Date of Birth/Age : |
05.08.1972 |
|
Date of Appointment : |
27.09.2013 |
|
DIN No.: |
064497856 |
|
PAN No.: |
AAIPW5093P |
|
Email : |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
(AS ON 27.09.2013)
|
Names of Shareholders |
|
No. of Shares |
|
|
|
|
|
Nirmal Wadhwa and Kailash C. Wadhwa |
|
15124 |
|
Kailash C. Wadhwa and Nirmal Wadhwa |
|
40198 |
|
Jaideep Wadhwa and Kailash C. Wadhwa |
|
3215 |
|
Sandeep Wadhwa and Kailash C. Wadhwa |
|
21060 |
|
Nirmal Wadhwa |
|
173 |
|
Komal Wadhwa and Sandeep Wadhwa |
|
718 |
|
Onjali Wadhwa and Jaideep Wadhwa |
|
400 |
|
K. C. Wadhwa HUF through Karta |
|
400 |
|
Jaideep Wadhwa HUF through Karta |
|
678 |
|
Sandeep Wadhwa HUF through Karta |
|
150 |
|
R. K. Mehra and Neera Mehra |
|
1852 |
|
Neera Mehra and R. K. Mehra |
|
0 |
|
Sandeep Wadhwa and Komal Wadhwa |
|
4532 |
|
Sandeep Wadhwa |
|
24000 |
|
|
|
|
|
Total |
|
112500 |
(AS ON 30.09.2013)
Equity Shares Break – up
|
Category |
|
Percentage |
|
|
|
|
|
Directors or relatives of directors |
|
100.00 |
|
|
|
|
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturers and Dealers in Containers, Boxes, Packing Wrappings,
Wrappers of all kinds made from Paper and Boards. |
||||||
|
|
|
||||||
|
Products : |
|
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||
|
Bankers : |
· Union Bank of India Industrial Finance Branch, M-11, Connaught Place, New Delhi – 110001,
India |
||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||
|
Facilities : |
|
||||||||||||||||||||||||||||||||||||
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
ASA and Associates Chartered Accountants |
|
Address : |
A-2, Ground Floor, Akruti Antara Apartment, No.11/1 Haudin Road,
Bangalore – 560042, Karnataka, India |
|
Tel No.: |
91-80-41510751 |
|
Fax No. |
91-80-41135109 |
|
Website : |
CAPITAL STRUCTURE
(AS ON 27.09.2013)
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
200000 |
Equity Shares |
Rs.100/- each |
Rs.20.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
112500 |
Equity Shares |
Rs.100/- each |
Rs.11.250
Millions |
|
|
|
|
|
FINANCIAL DATA
[All figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
11.250 |
11.250 |
11.250 |
|
(b) Reserves & Surplus |
179.853 |
21.643 |
30.723 |
|
(c) Money received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1)+(2) |
191.103 |
32.893 |
41.973 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
19.863 |
188.881 |
161.194 |
|
(b) Deferred tax liabilities (Net) |
9.304 |
0.000 |
0.000 |
|
(c) Other long
term liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
6.948 |
4.029 |
4.014 |
|
Total Non-current
Liabilities (3) |
36.115 |
192.910 |
165.208 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
86.118 |
60.141 |
78.455 |
|
(b)
Trade payables |
22.729 |
64.792 |
30.323 |
|
(c) Other
current liabilities |
6.157 |
35.278 |
31.234 |
|
(d) Short-term
provisions |
0.089 |
0.079 |
0.073 |
|
Total Current
Liabilities (4) |
115.093 |
160.290 |
140.085 |
|
|
|
|
|
|
TOTAL |
342.311 |
386.093 |
347.266 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
167.677 |
175.053 |
179.744 |
|
(ii)
Intangible Assets |
0.047 |
0.154 |
0.280 |
|
(iii)
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
(iv)
Intangible assets under development |
0.471 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
20.581 |
13.745 |
|
(d) Long-term Loan and Advances |
15.144 |
3.521 |
3.671 |
|
(e) Other
Non-current assets |
1.284 |
1.576 |
0.906 |
|
Total Non-Current
Assets |
184.623 |
200.885 |
198.346 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
71.490 |
90.378 |
95.468 |
|
(c)
Trade receivables |
62.227 |
71.475 |
36.980 |
|
(d) Cash
and cash equivalents |
1.329 |
3.431 |
0.962 |
|
(e)
Short-term loans and advances |
22.209 |
17.354 |
14.515 |
|
(f)
Other current assets |
0.433 |
2.570 |
0.995 |
|
Total
Current Assets |
157.688 |
185.208 |
148.920 |
|
|
|
|
|
|
TOTAL |
342.311 |
386.093 |
347.266 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
TOTAL |
757.269 |
460.366 |
379.619 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
522.332 |
476.283 |
400.082 |
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
234.937 |
(15.917) |
(20.463) |
|
|
|
|
|
|
|
|
|
Less |
TAX |
75.476 |
(6.836) |
(3.400) |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
159.461 |
(9.081) |
(17.063) |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
9.302 |
18.383 |
35.446 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
168.763 |
9.302 |
18.383 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
1417.43 |
-- |
-- |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
21.06
|
(1.97) |
(4.49) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
68.73
|
(4.35) |
(6.14) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
1.23
|
(0.48) |
(0.49) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.55
|
7.57 |
5.71 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.37
|
1.16 |
1.06 |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info Agents |
Available in Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
No |
|
9] |
Name of person contacted |
No |
|
10] |
Designation of contact person |
No |
|
11] |
Turnover of firm for last three years |
Yes |
|
12] |
Profitability for last three years |
Yes |
|
13] |
Reasons for variation <> 20% |
----- |
|
14] |
Estimation for coming financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister concerns |
No |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
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] |
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 LOANS
|
Particulars |
31.03.2013 |
31.03.2012 |
|
|
(Rs. In Millions) |
|
|
Long Term
Borrowings |
|
|
|
From Directors |
2.354 |
27.271 |
|
From Others |
17.508 |
88.775 |
|
|
|
|
|
Short Term
Borrowings |
|
|
|
From Directors |
21.594 |
0.000 |
|
From Others |
7.391 |
0.000 |
|
|
|
|
|
Total |
48.847 |
116.046 |
NOTE:
The Registered office of the company has been shifted
from, 89, 90 and 91, Industrial Suburb Yeshwantpur, Bangalore – 560022,
Karnataka, India, to the present address w.e.f. 02.02.2010.
INDEX OF CHARGES
|
S. No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10085149 |
02/01/2008 |
154,512,000.00 |
UN ION BANK OF
INDIA |
INDUSTRIAL
FINANCE BRANCH, M-11, CONNAUGHT CIRCUS, NEW DELHI, DELHI - 110001, INDIA |
A31200629 |
|
2 |
10042392 |
19/03/2007 |
4,000,000.00 |
UNION BANK OF
INDIA |
INDUSTRIAL
FINANCE BRANCH, M-11, CONNAUGHT CIRCUS, NEW DELHI, DELHI - 110001, INDIA |
A12759999 |
|
3 |
80001925 |
20/04/2013 * |
98,000,000.00 |
UNION BANK OF
INDIA |
INDUSTRIAL FINANCE
BRANCH, CONNAUGHT PLACE, NEW DELHI, DELHI - 110001, INDIA |
B74594375 |
|
4 |
90240862 |
27/09/2005 * |
56,500,000.00 |
UNION BANK OF
INDIA |
INDL. FINANCE
BR., NEW DELHI, DELHI - 110001, INDIA |
- |
* Date of charge modification
FIXED ASSETS:
· Land
· Building
· Borewell
· Plant and Machinery
· Effluent Treatment Plant
· Electrical Fittings
· Furniture and Fittings
· Office Equipment
· Computer and Accessories
· 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 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.62.24 |
|
|
1 |
Rs.101.81 |
|
Euro |
1 |
Rs.84.88 |
INFORMATION DETAILS
|
Report Prepared
by : |
NIT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
0 |
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
4 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
39 |
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.