MIRA INFORM REPORT
|
Report Date : |
01.02.2013 |
IDENTIFICATION DETAILS
|
Name : |
NARESH STEEL INDUSTRIES PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
206, 2nd Floor, Gupta Bhavan, Ahmedabad Street, Carnac
Bunder, Iron Market, Mumbai – 400 009, Maharashtra |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
19.04.2000 |
|
|
|
|
Com. Reg. No.: |
11-126003 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs. 4.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U27100MH2000PTC126003 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMN11222B |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCN0291J |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Distributor of Steel (Tata Steel) |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (46) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 1000000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track record.
Trade relations are reported as fair. Business is active. Payments are
reported to be usually correct and as per commitments. The company can be considered normal 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) |
|
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
India is developing into an open-market economy, yet traces
of its past autarkic policies remain. Economic liberalization, including industrial
deregulation, privatization of state-owned enterprises, and reduced controls on
foreign trade and investment, began in the early 1990s and has served to
accelerate the country's growth, which has averaged more than 7% per year since
1997. India's diverse economy encompasses traditional village farming, modern
agriculture, handicrafts, a wide range of modern industries, and a multitude of
services. Slightly more than half of the work force is in agriculture, but
services are the major source of economic growth, accounting for more than half
of India's output, with only one-third of its labor force. India has
capitalized on its large educated English-speaking population to become a major
exporter of information technology services and software workers. In 2010, the
Indian economy rebounded robustly from the global financial crisis - in large
part because of strong domestic demand - and growth exceeded 8% year-on-year in
real terms. However, India's economic growth in 2011 slowed because of persistently
high inflation and interest rates and little progress on economic reforms. High
international crude prices have exacerbated the government's fuel subsidy
expenditures contributing to a higher fiscal deficit, and a worsening current
account deficit. Little economic reform took place in 2011 largely due to
corruption scandals that have slowed legislative work. India's medium-term
growth outlook is positive due to a young population and corresponding low
dependency ratio, healthy savings and investment rates, and increasing
integration into the global economy. India has many long-term challenges that
it has not yet fully addressed, including widespread poverty, inadequate
physical and social infrastructure, limited non-agricultural employment
opportunities, scarce access to quality basic and higher education, and
accommodating rural-to-urban migration.
|
Source
: CIA |
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 : |
Mr. Parimal |
|
Designation : |
Accounts Manager |
|
Date : |
01.02.2013 |
LOCATIONS
|
Registered Office : |
206, 2nd Floor, Gupta Bhavan, Ahmedabad Street, Carnac
Bunder, Iron Market, Mumbai – 400 009, Maharashtra, India |
|
Tel. No.: |
91-22-23753799/ 23759115/ 67973344 |
|
Fax No.: |
91-22-23773013/ 67977772 |
|
E-Mail : |
|
|
Area : |
250 Sq. ft. |
|
Location : |
Owned |
|
|
|
|
Corporate Office : |
No. 403/404, Krushal Commercial Complex, Above Shoppers Stop, Chembur,
Mumbai, |
|
Tel. No.: |
91-22-67975122 |
|
Fax No.: |
91-22-23417720 / 67977722 |
|
Area : |
1000 Sq. ft. |
|
Location : |
Owned |
DIRECTORS
As on: 29.09.2012
|
Name : |
Mr. Vipul Kantilal Shah |
|
Designation : |
Whole Time Director |
|
Address : |
Rajvi, A-11/42, Rajawadi Co-Operative Housing Society, Rajawadi,
Ghatkopar (East), Mumbai – 400 077, |
|
Date of Birth/Age : |
27.08.1959 |
|
Qualification : |
Graduate |
|
Date of Appointment : |
19.04.2000 |
|
PAN No.: |
AAFPS2479C |
|
DIN No.: |
00967958 |
|
|
|
|
Name : |
Mr. Naresh Kantilal Shah |
|
Designation : |
Whole Time Director |
|
Address : |
3-4, Natraj Co-Operative Housing Society, |
|
Date of Birth/Age : |
05.10.1947 |
|
Qualification : |
Graduate |
|
Date of Appointment : |
19.04.2000 |
|
PAN No.: |
AAAHN3149P |
|
DIN No.: |
00968007 |
|
|
|
|
Name : |
Mr. Prakash Kantilal Shah |
|
Designation : |
Whole Time Director |
|
Address : |
Flat No. 7, 2nd Floor, Kailash Prakash, R. N. N. Marg,
Ghatkopar (East), Mumbai – 400 077, |
|
Date of Birth/Age : |
21.11.1954 |
|
Qualification : |
Graduate |
|
Date of Appointment : |
19.04.2000 |
|
PAN No.: |
AAFPS2481J |
|
DIN No.: |
01511347 |
|
|
|
|
Name : |
Mr. Chandrakant Kantilal Shah |
|
Designation : |
Whole Time Director |
|
Address : |
B-12/196, Rajawadi Chitranjan Nagar Colony, Rajawadi, Ghatkopar
(East), Mumbai – 400 077, |
|
Date of Birth/Age : |
19.11.1945 |
|
Qualification : |
Graduate |
|
Date of Appointment : |
19.04.2000 |
|
PAN No.: |
AAKPS2768P |
|
DIN No.: |
01573286 |
KEY EXECUTIVES
|
Name : |
Mr. Parimal |
|
Designation : |
Accounts Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 29.09.2012
|
Names of Shareholders |
No. of Shares |
|
Prakash Kantilal Shah |
32500 |
|
Pratima Prakash Shah |
30000 |
|
Vipul Kantilal Shah |
32500 |
|
Rupa Vipul Shah |
30000 |
|
Naresh Kantilal Shah |
25000 |
|
Ranjan Naresh Shah |
12500 |
|
Saurabh Naresh Shah |
12500 |
|
Jeny Saurabh Shah |
12500 |
|
Chandrakant Kantilal Shah |
12500 |
|
Charulata Chandrakant Shah |
12500 |
|
Ameet Chandrakant Shah |
12500 |
|
Rupal Ameet Shah |
12500 |
|
Nihir Chandrakant Shah |
12500 |
|
Mahesh Govardhandas Garodia |
100000 |
|
Girish Bhanabhai Mistry |
66666 |
|
Leena Investment Consultancy LLP |
66666 |
|
Total |
483332 |
Equity Share Break up (Percentage of Total Equity)
As on: 29.09.2012
|
Category |
Percentage |
|
Bodies corporate |
13.79 |
|
Directors or relatives of Directors |
86.21 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Distributor of Steel (Tata Steel) |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
||||||||||||
|
|
|
||||||||||||
|
Bankers : |
Not Available |
||||||||||||
|
|
|
||||||||||||
|
Facilities : |
(Rs.
In Millions)
|
|
Banking
Relations : |
-- |
|
|
|
|
Financial
Institution: |
Tata Capital Financial Services Limited, One Forbes, Dr. V. B. Gandhi Marg,
Mumbai – 400001, Maharashtra, India |
|
|
|
|
Auditors : |
|
|
Name : |
Vipul Modi and Associates Chartered Accountant |
|
Address : |
66 /1 Hansa, Villa Bhaudaji, Cross Road Opposite South Indian Gymkhana, Matunga , Mumbai 400 019, India |
|
PAN.: |
AABPM1417A |
CAPITAL STRUCTURE
As on: 29.09.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2000000 |
Equity Shares |
Rs.10/- each |
Rs.20.000 Millions |
|
|
|
|
|
Issued Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
483332 |
Equity Shares |
Rs.10/- each |
Rs.4.833
Millions |
|
|
|
|
|
Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
316666 |
Equity Shares |
Rs.10/- each |
Rs.3.167
Millions |
|
166666 |
Equity Shares |
Rs.5/- each |
Rs.0.833
Millions |
|
|
Total |
|
Rs. 4.000 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 |
4.000 |
4.000 |
4.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
281.608 |
252.775 |
228.130 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
285.608 |
256.775 |
232.130 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
539.569 |
517.262 |
239.762 |
|
|
2] Unsecured Loans |
301.854 |
131.534 |
112.529 |
|
|
TOTAL BORROWING |
841.423 |
648.796 |
352.291 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
1127.031 |
905.571 |
584.421 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
5.255 |
4.832 |
5.170 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
2.154 |
1.778 |
1.218 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
205.394
|
224.953 |
182.519 |
|
|
Sundry Debtors |
919.120
|
701.213 |
459.022 |
|
|
Cash & Bank Balances |
23.286
|
31.737 |
6.461 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
46.090
|
55.316 |
40.136 |
|
Total
Current Assets |
1193.890
|
1013.219 |
688.138 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
51.121 |
0.000 |
86.837 |
|
|
Other Current Liabilities |
22.647
|
88.058 |
11.725 |
|
|
Provisions |
0.500
|
26.200 |
11.543 |
|
Total
Current Liabilities |
74.268
|
114.258 |
110.105 |
|
|
Net Current Assets |
1119.622
|
898.961 |
578.033 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
1127.031 |
905.571 |
584.421 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
|
|
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
45.375 |
40.975 |
29.554 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
1.487 |
1.508 |
1.508 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
43.888 |
39.467 |
28.046 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
15.055 |
14.749 |
9.812 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX |
28.833 |
24.718 |
18.234 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
59.65 |
NA |
NA |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
Return on Total Assets (PBT/Total Assets} |
(%) |
3.66 |
3.87 |
4.57 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.15 |
0.15 |
0.12 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
2.95 |
2.53 |
1.52 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
16.08 |
8.87 |
6.25 |
LOCAL AGENCY FURTHER INFORMATION
SUNDRY CREDITOR
DETAILS
(Rs.
In Millions)
|
PARTICULARS
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
|
|
|
Sundry Creditor |
51.121 |
0.000 |
86.837 |
|
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 |
No |
|
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 |
No |
|
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 |
No |
|
34] |
External Agency Rating, if available |
No |
FINANCIAL RESULTS:
During the year company made Net profit after tax of Rs.28.833 Millions
where as last year company made a Net Profit after Tax of Rs.24.956 Millions.
The Company made a growth in terms of profit with 16.99% as compared with last
year.
REVIEW OF
OPERATIONS:
Overall, 2011-12 has been a very satisfactory year. During the period
the company has carried out business as a dealer and Supplier of Iron and
Steel.
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate
identity number of the company |
U27100MH2000PTC126003 |
|
Name of the
company |
NARESH STEEL
INDUSTRIES PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
206, 2nd Floor, Gupta Bhavan, Ahmedabad Street, Carnac
Bunder, Iron Market, Mumbai – 400 009, Maharashtra, India |
|
This form is for |
Creation of charge |
|
Type of charge |
|
|
Particular of
charge holder |
Tata Capital Financial Services Limited, One Forbes, Dr. V. B. Gandhi
Marg, Mumbai – 400001, Maharashtra, India |
|
Nature of
instrument creating charge |
Deed of hypothecation
dated 29.08.2012 |
|
Date of
instrument Creating the charge |
29.08.2012 |
|
Amount secured by
the charge |
Rs. 200.000
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest Short Term
Lending Rate (STLR) @ 16.50% per annum Rate of Interest
@ STLR minus 4.25% per annum. Terms of
Repayment Principal and
Interest amount to be repaid in 60 months Extent and
Operation of the charge The Charge
extends to the due repayment of the principal amount of Rupees 200.000
Millions including Interest, Additional Interest, Charges, Costs, Expenses
and all other monies payable under the Channel Finance Agreement dated
29.08.2012 In case of
default in payment of interest, principal or monies payable under the Loan
Agreement from the due date additional interest @ 4% p.a. will be levied as
penal interest. |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
First Pari Passu Charge over Current Assets of the Company (both present and future) having minimum security cover of 1.1X of the outstanding Amount. |
DETAILS OF
UNSECURED LOAN
(Rs.
In Millions)
|
Particulars |
31.03.2012 |
31.03.2011 |
|
|
|
|
|
Loans and advances from others |
301.854 |
131.534 |
|
Total |
301.854 |
131.534 |
FIXED ASSETS
- Plant and Equipment
- Furniture and Fixtures
- Vehicles
- Office Equipment
- Computer Equipments
- Computer Software
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
|
Information
Gathered by : |
PJA |
|
|
|
|
Report Prepared
by : |
UDS/BSN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
|
TOTAL |
|
46 |
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.