MIRA INFORM REPORT
|
Report Date : |
01.02.2013 |
IDENTIFICATION DETAILS
|
Name : |
CONCAST EXIM LIMITED |
|
|
|
|
Registered
Office : |
21, Hemant Basu Sarani, 5th Floor, Room No.511-512, Kolkata
– 700 001, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
15.01.2009 |
|
|
|
|
Com. Reg. No.: |
08-132009 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.194.722
millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U51101WB2009PLC132009 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
CALC06722C |
|
|
|
|
PAN No.: [Permanent Account No.] |
AADCC5575G AFNPP8311B |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject is
engaged mainly in the business of trading in Iron and Steel, Coal, Coke. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (49) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 15217000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having a satisfactory track record. It has recorded better improvement in its operations during 2012. Trade relations are reported as decent. Business is active. Payment
terms are reported to be usually correct and as per commitment. The company can be considered for business dealings at usual trade
terms and conditions. |
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) |
|
|
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
|
Source
: CIA |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
Short Term Bank Facilities: A3 |
|
Rating Explanation |
Moderate degree of safety and higher credit risk. |
|
Date |
April 9, 2012 |
|
Rating Agency Name |
CARE |
|
Rating |
Long Term Bank Facility: BBB- |
|
Rating Explanation |
Moderate degree of safety and moderate credit risk. |
|
Date |
April 9, 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.
LOCATIONS
|
Registered Office/ Corporate Office : |
21, Hemant Basu Sarani, 5th Floor, Room No.511-512, Kolkata
– 700 001, West |
|
Tel. No.: |
91-33-40232323/ 22130481-87 |
|
Fax No.: |
91-33-40232323/ 22130488 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Works : |
2, |
|
Tel. No.: |
91-33-25635327/ 28 |
|
Fax No.: |
91-33-25536780 |
DIRECTORS
As on 28.09.2012
|
Name : |
Mr. Sanjay Kumar Sureka |
|
Designation : |
Director |
|
Address : |
28/1, Shakespeare Sarani, Kolkata – 700 017, West |
|
Date of Birth/Age : |
22.01.1971 |
|
Date of Appointment : |
15.01.2009 |
|
DIN No.: |
00218025 |
|
PAN No.: |
AMSPS0990B |
|
Voter ID No.: |
WB-23-146-069180 |
|
|
|
|
Name : |
Mr. Anil Kumar Ratan Lal Kedia |
|
Designation : |
Director |
|
Address : |
4/5, |
|
Date of Birth/Age : |
14.04.1973 |
|
Date of Appointment : |
18.05.2009 |
|
DIN No.: |
01364304 |
|
PAN No.: |
AGUPK4073D |
|
Voter ID No.: |
WB/21/143/147300 |
|
|
|
|
Name : |
Mr. Chetan Kumar Vinod Kumar Jain |
|
Designation : |
Additional Director |
|
Address : |
F-53/7, Karunamoyee Estate, |
|
Date of Birth/Age : |
30.01.1974 |
|
Date of Appointment : |
14.01.2010 |
|
DIN No.: |
00694433 |
|
PAN No.: |
ACYPJ1473G |
|
Voter ID No.: |
WB/20/139/783602 |
KEY EXECUTIVES
|
Name : |
Mr. Sumit Sushil Kanungo |
|
Designation : |
Secretary |
|
Address : |
655 Block 'O', New Alipore, Kolkata – 700 053, West |
|
Date of Birth/Age : |
03.10.1984 |
|
Date of Appointment : |
01.11.2012 |
|
Mobile No.: |
91-9836220578 |
|
E-Mail: |
|
|
PAN No.: |
CIDPK5745H |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 28.09.2012
Note:
Shareholding details file attached.
As on 28.09.2012
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Bodies
corporate |
|
99.72 |
|
Directors
or relatives of directors |
|
0.27 |
|
Other
top fifty shareholders |
|
0.01 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged
mainly in the business of trading in Iron and Steel, Coal, Coke. |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
||||||||||||||||||
|
|
|
||||||||||||||||||
|
Bankers : |
v
UCO
Bank (Lead Bank), MIDC Branch, 2, v
State
Bank of v
United
Bank of v
Federal
Bank v
Canara
Bank, Prime Corporate Branch, Bells House, 21, v
Central Bank of v
Dena Bank, Corporate Business Branch, 238B, v
Allahabad Bank v
Andhra Bank v
Bank of v
Bank of v
The Lakshmi Vilas Bank Limited v State Bank of v
State Bank of v
State Bank of Travancore, Kolkata Main
Branch, 36, Jawaharlal Nehru Road, Kolkata – 700071, West Bengal, India v
Vijaya Bank |
||||||||||||||||||
|
|
|
||||||||||||||||||
|
Facilities : |
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
M. Jain and Associates Chartered Accountants |
|
Address : |
Mercantile Building, 9/12, |
|
Income-tax
PAN of auditor or auditor's firm : |
AADCF2465F |
|
|
|
|
Associates : |
v
Concast Ispat Limited, v
Concast Bengal Industries Limited, v
Concast Steel and Power Limited, v
Concast Global Limited, v
Concast Vyapaar Limited, v
Sanjay Commotrade LLP v
Dankuni Steels Limited, v
Concast Infratech Limited, v Concast Ambha
Road Projects Private Limited v Concast Damoh
Road Project Private Limited v Concast Dhaneta
Road Projects Private Limited v Concast Jawasa
Road Projects Private Limited v Concast Patan
Road Projects Private Limited v Concast Path
Bameetha Satna Road Projects Private Limited v Concast Energy
Limited, v Concast
Infrastructure Private Limited v Organic Green
Foods Limited, v Concast
Singapore PTE Limited v Concast Leasing
and Finance Limited, |
CAPITAL STRUCTURE
As on 28.09.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
20000000 |
Equity Shares |
Rs.10/- each |
Rs.200.000 millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
19472160 |
Equity Shares |
Rs.10/- each |
Rs.194.722
millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
194.722 |
174.246 |
151.005 |
|
|
2] Share Application Money Pending Allotment |
0.000 |
0.000 |
0.880 |
|
|
3] Reserves & Surplus |
3609.579 |
2302.525 |
869.943 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
3804.301 |
2476.771 |
1021.828 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
3991.880 |
2560.961 |
1041.154 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
30.000 |
|
|
TOTAL BORROWING |
3991.880 |
2560.961 |
1071.154 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
7796.181 |
5037.732 |
2092.982 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
178.463 |
146.423 |
25.092 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
143.050 |
70.848 |
30.432 |
|
|
DEFERRED TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
3379.363
|
1614.833 |
315.780 |
|
|
Sundry Debtors |
7457.706
|
6723.715 |
2842.286 |
|
|
Cash & Bank Balances |
1010.210
|
502.965 |
663.838 |
|
|
Other Current Assets |
0.447
|
0.670 |
0.000 |
|
|
Loans & Advances |
1039.540
|
561.640 |
22.800 |
|
Total
Current Assets |
12887.266
|
9403.823 |
3844.704 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
5024.157
|
4294.773 |
1448.324 |
|
|
Other Current Liabilities |
68.441
|
118.589 |
329.816 |
|
|
Provisions |
320.000
|
170.000 |
30.000 |
|
Total
Current Liabilities |
5412.598
|
4583.362 |
1808.140 |
|
|
Net Current Assets |
7474.668
|
4820.461 |
2036.564 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.894 |
|
|
|
|
|
|
|
|
TOTAL |
7796.181 |
5037.732 |
2092.982 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
29570.038 |
23087.037 |
11411.410 |
|
|
|
Other Income |
|
|
16.979 |
|
|
|
TOTAL (A) |
29570.038 |
23087.037 |
11428.389 |
|
|
|
|
|
|
|
|
Less |
|
|
|
|
|
|
|
|
Purchase |
29116.308 |
22653.245 |
11418.527 |
|
|
|
Direct Expenses |
|
|
71.943 |
|
|
|
Administrative and Other Expenses |
|
|
24.548 |
|
|
|
Increase/Decrease in Stock |
|
|
(315.779) |
|
|
|
TOTAL (B) |
29116.308 (including
Financial and Depreciation Expenses) |
22653.245 (including
Financial and Depreciation Expenses) |
11199.239 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
|
|
229.150 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
|
|
81.490 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
|
|
147.660 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
|
|
0.035 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
453.730 |
433.792 |
147.625 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
150.000 |
140.000 |
30.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
303.730 |
293.792 |
117.625 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
411.411 |
117.619 |
(0.006) |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
715.141 |
411.411 |
117.619 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
17.17 |
19.45 |
68.48 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
1.03
|
1.27 |
1.03 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
NA
|
NA |
1.29 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
3.47
|
4.54 |
3.81 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.12
|
0.18 |
0.14 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
1.05
|
1.03 |
1.05 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.38
|
2.05 |
2.13 |
LOCAL AGENCY FURTHER INFORMATION
|
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 |
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 |
Yes |
|
33)
Voter ID No of Proprietor/Partner/Director, if available |
Yes |
|
34)
External Agency Rating, if available |
Yes |
PERFORMANCE:
During the year,
the Company has earned an operational income of Rs.29570.000 millions against
Rs.23087.000 millions in the previous financial year. The Company has earned Profit
after Tax of Rs.303.700 millions compared to Rs.293.700 millions in the
previous year.
CONTINGENT
LIABILITY
|
Particulars |
31.03.2012 (Rs. in
millions) |
|
In respect of
letter of credit issued by the banks but materials not received. |
1997.400 |
Bankers Charges
Report as per Registry
|
Corporate
identity number of the company |
U51101WB2009PLC132009 |
|
Name of the
company |
CONCAST EXIM LIMITED |
|
Address of the
registered office or of the principal place of business in |
21, Hemant Basu Sarani, 5th Floor, Room No.511-512, Kolkata
– 700 001, West E-Mail: contact.concast@gmail.com |
|
This form is for |
Modification of
charge |
|
Charge identification
number of the modified |
10319888 |
|
Type of charge |
Book Debts Movable Property
(not being pledge) Floating Charge Others (All other
Current Assets) |
|
Particular of
charge holder |
State Bank of Travancore, Kolkata Main Branch, 36, Jawaharlal
Nehru Road, Kolkata – 700071, West Bengal, India E-Mail: calcutta@sbt.co.in |
|
Nature of
description of the instrument creating or modifying the charge |
Supplemental
Agreement of Loan for Increase in the Overall Working Capital Limit. Supplemental
Agreement of Hypothecation of Goods and Assets for Increase in the Overall
Working Capital Limit. Supplemental Deed
of Guarantee for Increase in the Overall Working Capital Limit. Letter Regarding
Grant of Individual Limits Within the Overall Working Capital Limit. |
|
Date of
instrument Creating the charge |
10.11.2012 |
|
Amount secured by
the charge |
Rs.930.000
millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest: Cash Credit:
Floating at 350 bps over SBT Base Rate. Subject to the rate not being lower
than other Consortium Banks. Terms of
Repayment: Working Capital
Limit is repayable on demand. Margin: As stipulated by
the Bank for the respective assets from time to time. Stock in trade :
25%, Receivables :
30%, EPC/PCFC : 10%, Letter of Credit
ILC/FLC : 10%, Bank Guarantee:
10%. Extent and
Operation of the charge: First charge on
the entire current assets both present and future ranking pari passu with
other Working Capital Financing Banks. Others: The Borrower
shall not do or allow anything which may prejudice the security and shall
comply with the terms and conditions of the Agreements. The overall limit
is also secured by Corporate Guarantee of Concast Ispat Limited. All other terms
and conditions continue to remain as before in full force and effect. |
|
Short particulars
of the property charged |
First charge on
the entire current assets both present and future ranking pari passu with
other Working Capital Financing Banks. |
|
Particulars of
the present modification |
By this
modification, the overall limit is enhanced from Rs.760.000 millions to
Rs.930.000 millions as stated under and charge on hypothecated current assets
of the Company extended to secure the enhanced overall limit together with
interest, costs and charges thereon: CC : Rs.320.000
millions EPC/PCFC :
(Rs.160.000 millions) FDBP/FBEP/EBRD :
(Rs.160.000 millions) LC (I/F) :
Rs.610.000 millions LOC/U/Buyer's
Credit : (Rs.610.000 millions) BG: (Rs.610.000
millions). |
FIXED ASSETS:
v Land
v Buildings
v Plant and Equipment
v Furniture and Fixtures
v Vehicles
v Office Equipment
v Computer 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.53.29 |
|
|
1 |
Rs.84.22 |
|
Euro |
1 |
Rs.72.23 |
INFORMATION DETAILS
|
Report Prepared
by : |
SMN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--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 |
|
TOTAL |
|
49 |
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.