MIRA
INFORM REPORT
|
Report Date : |
18.02.2013 |
IDENTIFICATION DETAILS
|
Name : |
CHINMAY IMPEX PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
502, Aatish Annexie, Near Samarpamn Flat, IDBI Bank Cross Road, Gulbai
Tekra, Ahmedabad – 380015, Gujarat |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
15.05.2009 |
|
|
|
|
Com. Reg. No.: |
04-056952 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 0.406 million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U51900GJ2009PTC056952 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
AHMC03258D |
|
|
|
|
PAN No.: [Permanent Account No.] |
AADCC6478J |
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|
|
Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Trader and Importer of Ferrous and Non-Ferrous Metal Scrap. |
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|
|
|
No. of Employees
: |
20 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (27) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 7000 |
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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. The profitability
of the company appears to be low. The external borrowing appears to be huge. However, trade relations are reported to be fair. Business is active.
Payments are reported to be slow. The company can be considered for business dealing 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.
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. Yogeshkumar Chunilal Majithiya |
|
Designation : |
Director |
|
Contact No.: |
91-9825238149 |
|
Date : |
14.02.2013 |
LOCATIONS
|
Registered/ Head Office : |
502, Aatish Annexie, Near Samarpamn Flat, IDBI Bank Cross Road, Gulbai
Tekra, Ahmedabad – 380015, Gujarat, India |
|
Tel. No.: |
91-79-40048067 |
|
Mobile No.: |
91-9825238149 (Mr. Yogesh) |
|
Fax No.: |
91-79-40048023 |
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E-Mail : |
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Website : |
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|
Location : |
Owned |
|
|
|
|
Branch Office : |
B/204, Miraambika School Road, Sukhotower, Naranpura, Ahmedabad –
380013, Gujarat, India |
|
Tel. No.: |
91-79-40048067 |
|
|
|
|
Warehouse : |
Plot No 8-9, DC-2, Bharatnagar
Industrial Area, Bh Gurukul, Gandhidham,
Kutch-370201, India |
|
Tel. No.: |
91 2836 257572 |
|
Fax No.: |
91 2836 257572 |
|
E-Mail : |
|
|
|
|
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Associate Firm
in USA: |
Gold Star Metals LLC, 7944, Dockal Road, Houston, Texas-77028, USA |
|
Tel. No.: |
713 633 6800 |
|
Fax No.: |
713 633 6802 |
|
E-Mail : |
DIRECTORS
As on 29.09.2012
|
Name : |
Mr. Yogeshkumar Chunilal Majithiya |
|
Designation : |
Director |
|
Address : |
A-7, New Nikita Park Society, Near Sun N Step Club Satadhar Cross Road,
Thaltej Ahmedabad – 380054, Gujarat, India |
|
Date of Birth/Age : |
17.12.1979 |
|
Date of Appointment : |
15.05.2009 |
|
PAN No.: |
AFXPM7246N |
|
DIN No.: |
01317235 |
|
|
|
|
Name : |
Mr. Chunilal Manilal Majithiya |
|
Designation : |
Director |
|
Address : |
Krishna Nagar – 1, Highway Road, Bhabhar, India |
|
Date of Birth/Age : |
16.02.1956 |
|
Date of Appointment : |
15.05.2009 |
|
PAN No.: |
AAXPT0200E |
|
DIN No.: |
01910237 |
|
|
|
|
Name : |
Mr. Hiren Natwarlal Pujara |
|
Designation : |
Director |
|
Address : |
Shivohhm, Prahalad Plot, Street No.30, Near Karanpara Chowk, Rajkot –
360001, India |
|
Date of Birth/Age : |
01.10.1983 |
|
Date of Appointment : |
23.03.2010 |
|
PAN No.: |
AWCPP6219N |
|
DIN No.: |
03226597 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 29.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
Chinubhai M. Majithiya |
|
8500 |
|
Bhagwatiben c. Majiyhiya |
|
200 |
|
Hasmukhlal M. Thakkar |
|
200 |
|
Himanshu C. Majithiya |
|
200 |
|
Jayshree
B. Raiya |
|
200 |
|
Kalpanaben C. Majihiya |
|
200 |
|
Perfect enterprice INC, (USA) |
|
12000 |
|
Yogesh C. Majithiya HUF |
|
200 |
|
Yogeshkumar C. Majithiya |
|
8500 |
|
Jasminaben Nikunjbhai Rtani |
|
5000 |
|
Nikunjbhai Ratani |
|
5000 |
|
Chinubhai Manilal Majithiya HUF |
|
200 |
|
Hasmukhlal Manilal Thakker HUF |
|
200 |
|
Total |
|
40600 |
Equity Share Break up (Percentage of Total Equity)
As on 29.09.2012
|
Category |
Percentage |
|
Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s),
Non-resident Indian(s) or Overseas Corporate bodies or Others |
29.56 |
|
Directors or relatives of Directors |
70.44 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Trader and Importer of Ferrous and Non-Ferrous Metal Scrap. |
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|
|
|
Imports : |
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|
Products : |
Ferrous and Non Ferrous Metal Scrap |
|
Countries : |
·
USA ·
Dubai ·
Middle East |
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|
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|
Terms : |
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|
Selling : |
L/C, Cash and Credit |
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Purchasing : |
L/C, Cash and Credit |
GENERAL INFORMATION
|
Suppliers : |
·
Gold Star Metal |
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Customers : |
Wholesalers, Retailers and End users ·
Aditya International |
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No. of Employees : |
20 (Approximately) |
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Bankers : |
· HDFC Bank Limited, Gandhidham, Kutch, Gujarat, India ·
HDFC Bank Limited, HDFC Bank Housesenapati Bapat
Marg, Lower Parel (West), Mumbai - 400013, Maharashtra, India ·
ICICI Bank Limited |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
|
|
Name : |
Nisarg J. Shah and Company Chartered Accountants |
|
Address : |
3SF Ratnam, C. G. Road, Ahmedabad-380006, Gujarat, India |
|
Tel. No.: |
91-79-26462476 |
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Mobile No.: |
91-9825300573 |
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E-Mail : |
|
|
PAN No.: |
AAHFN7292E |
CAPITAL STRUCTURE
As on 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
50000 |
Equity Shares |
Rs.10/- each |
Rs. 0.500 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
40600 |
Equity Shares |
Rs.10/- each |
Rs. 0.406 Million |
|
|
|
|
|
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 |
0.406 |
0.404 |
0.300 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
1.273 |
0.526 |
0.030 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
1.679 |
0.930 |
0.330 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
5.227 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
51.099 |
32.009 |
20.940 |
|
|
TOTAL BORROWING |
56.326 |
32.009 |
20.940 |
|
|
DEFERRED TAX LIABILITIES |
0.102 |
0.024 |
0.001 |
|
|
|
|
|
|
|
|
TOTAL |
58.107 |
32.963 |
21.271 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
3.345 |
0.688 |
0.035 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.030 |
0.022 |
0.620 |
|
|
DEFERRED TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
51.972
|
28.955 |
19.691 |
|
|
Sundry Debtors |
18.042
|
11.330 |
3.654 |
|
|
Cash & Bank Balances |
0.287
|
1.179 |
2.106 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
7.098
|
8.330 |
0.979 |
|
Total
Current Assets |
77.399
|
49.794 |
26.430 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
20.186
|
15.767 |
5.283 |
|
|
Other Current Liabilities |
1.835
|
1.146 |
0.352 |
|
|
Provisions |
0.646
|
0.628 |
0.179 |
|
Total
Current Liabilities |
22.667
|
17.541 |
5.814 |
|
|
Net Current Assets |
54.732
|
32.253 |
20.616 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
58.107 |
32.963 |
21.271 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
122.591 |
124.885 |
NA |
|
|
|
Other Income |
2.571 |
2.464 |
NA |
|
|
|
TOTAL |
125.162 |
127.349 |
NA |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
124.087 |
126.620 |
NA |
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
124.087 |
126.620 |
NA |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
1.075 |
0.729 |
0.051 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
0.328 |
0.233 |
0.021 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
0.747 |
0.496 |
0.030 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
NA |
102.553 |
49.357 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
18.39 |
12.28 |
NA |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
0.60
|
0.39 |
NA |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
0.88
|
0.58 |
NA |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.33
|
1.44 |
NA |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.64
|
0.78 |
NA |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
33.55
|
34.42 |
63.45 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
3.41
|
2.84 |
4.55 |
LOCAL AGENCY FURTHER INFORMATION
SUNDRY CREDITORS
DETAILS:
|
Particulars |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
(Rs. In Millions) |
||
|
|
|
|
|
|
Trade Payable |
20.186
|
15.767 |
5.283 |
|
|
|
|
|
|
Total |
20.186
|
15.767 |
5.283 |
|
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
two 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 |
Yes |
|
18] |
Major customers |
Yes |
|
19] |
Payments terms |
Yes |
|
20] |
Export / Import details
(if applicable) |
Yes |
|
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 |
No |
|
34] |
External Agency Rating,
if available |
Yes |
UNSECURED LOAN
|
Unsecured Loan |
31.03.2012 (Rs.
in Millions) |
31.03.2011 (Rs.
In Millions) |
|
From Director |
18.122 |
17.646 |
|
From Shareholder |
32.977 |
14.363 |
|
From Other |
0.000 |
0.000 |
|
Total |
51.099 |
32.009
|
BANKERS CHARGES REPORT
AS PER REGISTRY
|
Corporate identity number of the company |
U51900GJ2009PTC056952 |
|
Name of the company |
CHINMAY IMPEX PRIVATE LIMITED |
|
Address of the registered office or of the principal place of business in India of the company |
502, Aatish Annexie, Near Samarpamn Flat, IDBI Bank Cross Road, Gulbai
Tekra, Ahmedabad – 380015, Gujarat, India Email : yogesh.majithiya@gmail.com
|
|
This form is for |
Modification of charge |
|
Charge identification (ID) number of the charge to be modified |
10314609 |
|
Type of charge |
·
Book debts ·
Movable property (not being pledge) ·
Floating charge |
|
Particular of charge holder |
HDFC Bank Limited,
HDFC Bank Housesenapati Bapat Marg, Lower Parel (West), Mumbai - 400013,
Maharashtra, India Email : RBBform8@hdfcbank.com
|
|
Nature of instrument creating charge |
Supplementary Letter of Hypothecation. |
|
Date of instrument Creating the charge |
28.06.2012 |
|
Amount secured by the charge |
Rs. 18.000 millions |
|
Brief of the principal terms an conditions and extent and operation of
the charge |
Rate of Interest Interest at the rate as may be communicated by the Bank from time to
time. Terms of Repayment On Demand Margin As may be stipulated by the Bank from time to time. Extent and Operation of the charge Hypothecation by way of First Charge on Company's Stocks and Book
Debts as a continuing security to secure for the repayment of Rs.18.000
millions together with interest, costs, charges, expenses and other moneys
due and payable by the Company to the Bank. |
|
Short particulars of the property or asset(s) charged (including
complete address and location of the property) |
Stock in Trade, consisting of raw materials, goods in process of
manufacturing finished goods, and other merchandise whatsoever being movable
properties All the debts, that is, all the book debts, outstandings, monies
receivables, claims, bills, invoice documents, contracts, guarantees, and
rights |
|
Particulars of the present modification |
The Charge shall now stand increased from Rs.7.500 millions to Rs.18.000
millions against the security of Stocks and Book Debts of the Company. |
FIXED ASSETS
·
Land
·
Office Buildings
·
Guest House Building
·
Factory Buildings
·
Plant and Equipment
·
Electrical Installations
·
Laboratory Equipments
·
Furniture and Fixtures
·
Vehicles
·
Office equipment
·
Computers
·
Moulding Boxes, Patterns and Pattern Plates
·
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.53.99 |
|
|
1 |
Rs.83.72 |
|
Euro |
1 |
Rs.72.09 |
INFORMATION DETAILS
|
Information Gathered
by : |
PLK |
|
|
|
|
Report Prepared
by : |
MRI |
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 |
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 |
|
TOTAL |
|
27 |
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.