|
Report Date : |
28.12.2013 |
IDENTIFICATION DETAILS
|
Name : |
ANAND CHEMICALS AND RUBBER PRIVATE LIMITED (w.e.f. 02.06.1992) |
|
|
|
|
Formerly Known
As : |
ANAND SOAP AND CHEMICAL WORKS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
31, Shakespeare Sarani, Kolkata – 700017, West Bengal |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
20.07.1987 |
|
|
|
|
Com. Reg. No.: |
21-042714 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.15.400 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24241WB1987PTC042714 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
CALA03317G |
|
|
|
|
PAN No.: [Permanent Account No.] |
AACCA1161H |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Dealer of Chemical and Rubber Products. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (30) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 133000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having a moderate track Record. There appears a slight dip in the turnover and profitability of the
company during current year. Borrowings of the company also seems to be
increasing. However, trade relations are reported fair. Business is active.
Payments are reported to be slow but correct. The company can be considered for business dealings with some caution.
|
NOTES:
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – September 30, 2013
|
Country Name |
Previous Rating (30.06.2013) |
Current Rating (30.09.2013) |
|
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
Uptick in agriculture
and construction spread some cheer as the economy grew a higher-than-expected
4.8 % in the three months through September. Manufacturing rose an annual rate
per cent during the quarter and mining fell by 0.4 %, government data showed
while farm output rose 46%.
India has emerged as
the most attractive investment destination, thanks to a relaxation in foreign
direct investment norms, says a report. India is followed by Brazil and China
in the ranking part of EY’s Capital Confidence Barometer report based on a
survey across 70 nations. The US, France and Japan have emerged as the top
three investors likely to invest in India.
India has been
ranked 83rd globally in terms of talent competitiveness of its human
capital. Switzerland, Singapore, Denmark, Sweden and Luxembourg are the
top five in the list of 103 nations compiled by INSEAD business school.
Tax rates for
companies in India are among the highest in the world and the number of payments
is also more than the global average putting the country at low, 158th
rank on the Paying Taxes. 2014 list by the World Bank and PWC. However, the
time taken for tax payments is relatively less in India which is rated ahead of
China and Japan.
1 billion smartphone
shipments in 2013, a 39.3 % growth over 2012. This was being driven by low cost
computing in emerging markets. By 2017, total smartphone shipments are expected
to approach 1.7 billion units, resulting in a compound annual growth rate of 18.4
% between 2013 and 2017, according to research from IDC.
20 % vacancy rate of
office space in Mumbai and Delhi in the third quarter, the highest in Asia
after Chengdu, in China. According to Cushman and Wakefield, six Indian cities
are among the 10 office markets with the worst vacancies.
Foreign banks will
not have to pay stamp duty and capital gains tax, if they convert their branch
operations into a wholly owned subsidiary, according to the Reserve Bank of
India.
The Reserve Bank of
India is planning to launch CPI – indexed bonds aimed to protecting the savings
of retail investors from the impact the price rise by December end.
Central Bureau of
Investigation has booked State Bank of India, Deputy Managing Director Shyamal
Acharya and others in a graft case related to distribution of a loan of over Rs
4000 mn. Gold and jewellery worth Rs 6.7 mn have been recovered from the
residence of Acharya.
RBI DEFAILTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAILTERS’ 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 BY
|
Name : |
Ms. Kapoor |
|
Designation : |
Accountant |
|
Contact No.: |
91-33-22814569/ 91-9830054166 |
|
Date : |
24.12.2013 |
LOCATIONS
|
Registered Office : |
31, Shakespeare Sarani, Kolkata – 700017, West Bengal, India |
|
Tel. No.: |
91-33-22814569 |
|
Mobile No.: |
91-9830054166 (Ms. Kapoor) |
|
Fax No.: |
Not Available |
|
E-Mail : |
DIRECTORS
(AS ON 30.09.2013)
|
Name : |
Mrs. Lakshmi Narayan Khatry |
|
Designation : |
Director |
|
Address : |
AE-752, Salt Lake, Kolkata – 700064, West Bengal, India |
|
Date of Appointment : |
20.07.1987 |
|
DIN No.: |
00604330 |
|
|
|
|
Name : |
Mr. Bimal Kumar Seth |
|
Designation : |
Director |
|
Address : |
AE-752, Salt Lake, Kolkata – 700064, West Bengal, India |
|
Date of Appointment : |
20.07.1987 |
|
DIN No.: |
00604331 |
|
|
|
|
Name : |
Ms. Kirti Kapoor |
|
Designation : |
Director |
|
Address : |
10, Jodhpur Park, Kolkata – 700068, West Bengal, India |
|
Date of Appointment : |
16.08.2005 |
|
DIN No.: |
00604335 |
|
|
|
|
Name : |
Mr. Sharad Kumar Seth |
|
Designation : |
Director |
|
Address : |
AE-752, Salt Lake, Kolkata – 700064, West Bengal, India |
|
Date of Appointment : |
20.07.1987 |
|
DIN No.: |
01584975 |
KEY EXECUTIVES
|
Name : |
Ms. Kapoor |
|
Designation : |
Accountant |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
(AS ON 30.09.2013)
|
Names of Shareholders |
|
No. of Shares |
|
|
|
|
|
Lakshmi Narayan Khatry |
|
600 |
|
Bimal Kumar Seth |
|
285100 |
|
Sharad Kumar Seth |
|
280800 |
|
Usha Khatry |
|
17500 |
|
Suniti Seth |
|
130500 |
|
Anand Seth |
|
162500 |
|
Roshni Seth |
|
60000 |
|
Sharad Kumar Seth Karta of S. K. Seth
(HUF) |
|
125000 |
|
Bimal Kumar Seth Karta of B. K. Seth (HUF) |
|
50000 |
|
Aditi Seth |
|
87500 |
|
Raginoi Seth |
|
50500 |
|
Vivek Seth |
|
180000 |
|
Lakshmi Narayan Khatry Karta of L N Khatry (HUF) |
|
110000 |
|
|
|
|
|
Total |
|
1540000 |
(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 : |
Dealer of Chemical and Rubber Products. |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Bankers : |
· Standard Chartered Bank SME Banking, 19, N S Road, Kolkata – 700001, West Bengal, India · The Karur Vysya Bank Limited |
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Facilities : |
|
|||||||||||||||||||||||||||
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
S. N. Chaubey and Company Chartered Accountants |
|
Address : |
7, Raj Mohan Street, 3rd Floor, Kolkata – 700073, West
Bengal, India |
|
Tel No.: |
91-33-22356645/6786 |
|
Mobile No.: |
91-9830497721 |
|
PAN No.: |
ACNPC5361K |
|
Email : |
CAPITAL STRUCTURE
(AS ON 30.09.2013)
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1600000 |
Equity Shares |
Rs.10/- each |
Rs.16.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1540000 |
Equity Shares |
Rs.10/- each |
Rs.15.400
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 |
15.400 |
15.400 |
15.400 |
|
(b) Reserves & Surplus |
17.758 |
15.597 |
13.207 |
|
(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) |
33.158 |
30.997 |
28.607 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
20.850 |
15.779 |
21.291 |
|
(b) Deferred tax liabilities (Net) |
0.032 |
0.033 |
0.048 |
|
(c) Other long term liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current Liabilities (3) |
20.882 |
15.812 |
21.339 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
25.341 |
23.583 |
5.937 |
|
(b) Trade payables |
9.296 |
6.625 |
6.380 |
|
(c) Other current
liabilities |
3.721 |
11.608 |
9.507 |
|
(d) Short-term provisions |
0.987 |
1.096 |
0.776 |
|
Total Current Liabilities (4) |
39.345 |
42.912 |
22.600 |
|
|
|
|
|
|
TOTAL |
93.385 |
89.721 |
72.546 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
2.735 |
2.184 |
2.359 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
0.000 |
0.000 |
0.000 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
18.490 |
17.592 |
16.530 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
21.225 |
19.776 |
18.889 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
30.776 |
21.057 |
18.190 |
|
(c) Trade receivables |
25.053 |
21.632 |
23.758 |
|
(d) Cash and cash
equivalents |
12.594 |
12.605 |
5.402 |
|
(e) Short-term loans and
advances |
3.232 |
14.510 |
6.241 |
|
(f) Other current assets |
0.505 |
0.141 |
0.066 |
|
Total Current Assets |
72.160 |
69.945 |
53.657 |
|
|
|
|
|
|
TOTAL |
93.385 |
89.721 |
72.546 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
188.665 |
201.183 |
166.666 |
|
|
|
Other Income |
0.788 |
0.679 |
0.475 |
|
|
|
TOTAL (A) |
189.453 |
201.862 |
167.141 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Purchases of stock in Trade |
153.534 |
153.789 |
133.895 |
|
|
|
Changes in Inventories of Finished Goods, Stock in proce3ss and Stock
in Trade |
(9.719) |
(2.866) |
(2.715) |
|
|
|
Employee Benefit Expenses |
1.137 |
1.291 |
0.970 |
|
|
|
Other Expenses |
35.641 |
43.839 |
31.958 |
|
|
|
TOTAL (B) |
180.593 |
196.053 |
164.108 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
8.860 |
5.809 |
3.033 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
5.462 |
2.137 |
0.368 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
3.398 |
3.672 |
2.665 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
0.230 |
0.174 |
0.113 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
3.168 |
3.498 |
2.552 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
1.007 |
1.108 |
0.793 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
2.161 |
2.390 |
1.759 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Purchases of Stock-in-Trade |
121.046 |
122.189 |
79.474 |
|
|
TOTAL IMPORTS |
121.046 |
122.189 |
79.474 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
1.40 |
1.55 |
1.14 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
1.14
|
1.18 |
1.05 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
1.68
|
1.74 |
1.53 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
3.39
|
3.90 |
3.52 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.10
|
0.11 |
0.09 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
1.39
|
1.27 |
0.95 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.83
|
1.63 |
2.37 |
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 |
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 |
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 |
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 |
UNSECURED LOANS
|
Particulars |
31.03.2013 |
31.03.2012 |
|
|
(Rs. In Millions) |
|
|
Long Term
Borrowings |
|
|
|
From Bodies Corporate |
20.850 |
15.779 |
|
From Others |
-- |
-- |
|
|
|
|
|
Short Term
Borrowings |
|
|
|
From Related Limit |
1.300 |
0.000 |
|
|
|
|
|
Total |
22.150 |
15.779 |
|
Note: Loan taken from related parties of Rs.1.000 Million received from Mr. Lakshmi
Narayan Khatry Director and Rs.0.300 Million from Anand Seth Directors
Relative. |
||
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/ Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request Number
(SRN) |
|
1 |
10288329 |
23/08/2013 * |
40,000,000.00 |
STANDARD
CHARTERED BANK |
SME BANKING, 19
N S ROAD, KOLKATA, WEST BENGAL - |
B85686566 |
|
2 |
10116687 |
25/06/2008 |
20,000,000.00 |
STANDARD
CHARTERED BANK |
19, N. S. ROAD, KOLKATA,
WEST BENGAL - 700001, INDIA |
A43272145 |
* Date of charge modification
FIXED ASSETS:
· A. C. Machine
· Computer and Accessories
· Electrical Installation
· Furniture and Fixtures
· Motor Car
· Office at Kolkata
· Office Equipments
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.62.06 |
|
|
1 |
Rs.102.03 |
|
Euro |
1 |
Rs.85.27 |
INFORMATION DETAILS
|
Information
Gathered by : |
HTL |
|
|
|
|
Report Prepared
by : |
NIT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
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 |
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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
30 |
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.