MIRA
INFORM REPORT
|
Report Date : |
21.02.2013 |
IDENTIFICATION DETAILS
|
Name : |
MPM PRIVATE LIMITED |
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Formerly Known
As : |
MINERAL PULVERISING MILLS PRIVATE LIMITED |
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Registered
Office : |
M-22, MIDC, Hingna Industrial Area, Nagpur – 440016, Maharashtra |
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Country : |
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Financials (as
on) : |
31.03.2012 |
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Date of
Incorporation : |
03.01.1996 |
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Com. Reg. No.: |
11-095899 |
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Capital Investment
/ Paid-up Capital : |
Rs.22.069
Millions |
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CIN No.: [Company Identification
No.] |
U24110MH1996PTC095899 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
NGPM03696A |
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PAN No.: [Permanent Account No.] |
AACCM1261A |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer, Exporter and Importer of Foundry Chemicals and Lustron. |
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No. of Employees
: |
80 (Approximately) (In Office + In Factory) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (29) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
USD 420000 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having a moderate track record. Profit
margin of the company is low. However, trade relations are reported as 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.
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 |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
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Rating |
LETTER OF CREDIT : CRISIL A4+ |
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Rating Explanation |
Minimal degree of safety it carry high credit risk |
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Date |
17.07.2012 |
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Rating Agency Name |
CRISIL |
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Rating |
CASH CREDIT : CRISIL BB- |
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Rating Explanation |
Moderate risk of default |
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Date |
17.07.2012 |
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.
INFORMATION PARTED BY
|
Name : |
Mr. Sanjay |
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Designation : |
Accounts Department |
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Contact No.: |
91-7104-232402 |
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Date : |
19.02.2013 |
LOCATIONS
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Registered/ Head Office/ Factory : |
M 22, MIDC, Hingnain Industrial Estate, |
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Tel. No.: |
91-7104-232401/ 232402/ 237065 |
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Fax No.: |
91-7104-237223 |
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E-Mail : |
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Website : |
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Location : |
Owned |
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Corporate Office |
501, A/B, Niranjan, |
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Branch Office : |
Located at : ·
Chennai ·
Navi Mumbai ·
Kolhapur · Coimbatore ·
Gurgaon ·
Pune ·
Kolkata ·
Hyderabad ·
Ahmedabad |
DIRECTORS
(AS ON 20.09.2012)
|
Name : |
Mr. Deepak Jugalkishore Chowdhary |
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Designation : |
Managing Director |
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Address : |
Plot No.2, Gandhi Nagar, Nagpur-440010, |
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Date of Birth/Age : |
13.10.1958 |
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Qualifications : |
B. Com |
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Date of Appointment : |
03.01.1996 |
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DIN No.: |
00332918 |
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Name : |
Mrs. Shakuntala Jugalkishore Chowdhary |
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Designation : |
Director |
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Address : |
Plot No.2, Gandhi Nagar, Nagpur-440010, |
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Date of Birth/Age : |
31.03.1937 |
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Qualification: |
Graduate |
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Date of Appointment : |
28.08.1996 |
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DIN No.: |
00584015 |
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Name : |
Mr. Diwakar Govind Shastri |
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Designation : |
Director |
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Address : |
87/B, Empress Mill Colony, |
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Date of Birth/Age : |
24.08.1965 |
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Qualifications : |
Diploma in Engineering |
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Date of Appointment : |
30.06.2000 |
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DIN No.: |
00334006 |
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Name : |
Ms. Anushree Chowdhary |
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Designation : |
Director |
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Address : |
Plot No. 2, Gandhi Nagar, Nagpur-440010, |
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Date of Birth/Age : |
22.09.1985 |
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Date of Appointment : |
30.09.2008 |
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DIN No.: |
01864859 |
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Name : |
Ms. Aditi Deepak Chowdhary |
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Designation : |
Director |
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Address : |
Plot No. 2, Gandhi Nagar, Nagpur-440010, |
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Date of Birth/Age : |
04.09.1983 |
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Date of Appointment : |
30.09.2008 |
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DIN No.: |
00333637 |
KEY EXECUTIVES
|
Name : |
Mr. Sanjay |
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Designation : |
Accounts Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
(AS ON 20.09.2012)
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Names of Shareholders |
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No. of Shares |
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Deepak Chowdhary |
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1995732 |
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Shakuntala Chowdhary |
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91998 |
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Neena Chowdhary |
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116168 |
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Baluram Biliochpuria |
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2 |
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Aditi Chowdhary |
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1000 |
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Anushree Chowdhary |
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1000 |
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Anirudh Chowdhary |
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1000 |
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Nandlal Agarwal |
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1 |
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Total |
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2206901 |
(AS ON 20.09.2012)
Equity Shares Break – up
|
Category |
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Percentage |
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Directors or relatives of directors |
|
100.00 |
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Total
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|
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer, Exporter and Importer of Foundry Chemicals and Lustron. |
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Products : |
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Exports : |
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Products : |
Finished Goods |
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Countries : |
· UK · Malaysia |
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Imports : |
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Products : |
Raw Materials |
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Countries : |
· China · UK |
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Terms : |
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Selling : |
L/C, Cash and Credit (30 and 60 days) |
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Purchasing : |
L/C, Cash and Credit (30 and 60 days) |
GENERAL INFORMATION
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Customers : |
Wholesalers, Retailers and End Users |
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No. of Employees : |
80 (Approximately) (In Office + In Factory) |
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Bankers : |
·
State Bank of India, Industrial Finance Branch, Bharat Nagar,
Amravati Road, Nagpur – 440033, Maharashtra, India Contact No.: 91-712-2546642 · HDFC Bank Limited · Bank of Baroda, Dharampeth Branch, Nagpur – 440010, Maharashtra, India |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Aurangabadkar and Company Chartered Accountants |
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Address : |
Plot No. 2, Indradhanush, SBI Colony, Amravati Road, Nagpur – 440033,
Maharashtra, India |
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PAN No.: |
AACFA2752M |
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Subsidiary Companies: |
·
MPM – Durrans Refracoat Private Limited, Nagpur,
Maharashtra, India CIN
No.: U27106MH2007PTC169690 Line
of Business: Manufacturer of Paints. ·
MPM-GTP Foundry Technologies Private Limited CIN
No.: U28112MH2011PTC213008 |
CAPITAL STRUCTURE
As on 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
|
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|
2500000 |
Equity Shares |
Rs.10/- each |
Rs.25.000 Millions |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
|
|
|
2206901 |
Equity Shares |
Rs.10/- each |
Rs.22.069
Millions |
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FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
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|
SHAREHOLDERS FUNDS |
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1] Share Capital |
22.069 |
17.069 |
12.069 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
83.443 |
77.614 |
75.549 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
105.512 |
94.683 |
87.618 |
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LOAN FUNDS |
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1] Secured Loans |
11.825 |
146.554 |
108.744 |
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2] Unsecured Loans |
171.474 |
27.160 |
20.221 |
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TOTAL BORROWING |
183.299 |
173.714 |
128.965 |
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DEFERRED TAX LIABILITIES |
9.955 |
5.923 |
4.578 |
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TOTAL |
298.766 |
274.320 |
221.161 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
63.785 |
58.551 |
61.547 |
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Capital work-in-progress |
14.034 |
0.000 |
0.000 |
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INVESTMENT |
15.481 |
17.716 |
10.413 |
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DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
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|
|
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
98.548
|
111.454
|
53.237 |
|
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Sundry Debtors |
210.164
|
223.434
|
167.434 |
|
|
Cash & Bank Balances |
20.582
|
27.811
|
13.390 |
|
|
Other Non-Current Assets |
16.306
|
|
|
|
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Other Current Assets |
6.638
|
8.392
|
3.020 |
|
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Loans & Advances |
26.198
|
22.357
|
16.051 |
|
Total
Current Assets |
378.436
|
393.448
|
253.132 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditor |
135.073 |
147.712 |
66.579 |
|
|
Other Current Liabilities |
37.897
|
47.683
|
35.945 |
|
|
Provisions |
0.000
|
0.000
|
1.407 |
|
Total
Current Liabilities |
172.970
|
195.395
|
103.931 |
|
|
Net Current Assets |
205.466
|
198.053
|
149.201 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
298.766 |
274.320 |
221.161 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
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SALES |
|
|
|
|
|
|
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Income |
|
841.669 |
581.186 |
|
|
|
Other Income |
|
4.891 |
5.036 |
|
|
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TOTAL (A) |
1047.842 |
846.560 |
586.222 |
|
|
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Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Goods Sold |
|
122.532 |
104.454 |
|
|
|
Raw Materials Consumed |
|
526.069 |
312.067 |
|
|
|
Manufacturing Expenses |
|
34.088 |
23.805 |
|
|
|
Administrative Expenses |
|
63.677 |
53.782 |
|
|
|
Selling and Distribution Expenses |
|
66.096 |
52.286 |
|
|
|
TOTAL (B) |
991.796 |
812.462 |
546.394 |
|
|
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|
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Less |
PROFIT/(LOSS)
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
56.046 |
34.098 |
39.828 |
|
|
|
|
|
|
|
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|
Less |
FINANCIAL
EXPENSES (D) |
37.628 |
25.069 |
20.875 |
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|
|
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|
|
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|
PROFIT/(LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D)
(E) |
18.418 |
9.029 |
18.953 |
|
|
|
|
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|
|
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|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
6.030 |
4.840 |
4.567 |
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|
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|
PROFIT/(LOSS)
BEFORE TAX (E-F) (G) |
12.388 |
4.189 |
14.386 |
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Less |
TAX (H) |
6.559 |
2.125 |
8.398 |
|
|
|
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|
PROFIT/(LOSS)
AFTER TAX (G-H) (I) |
5.829 |
2.064 |
5.988 |
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Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
NA |
61.565 |
56.984 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Proposed Dividend |
NA |
NA |
1.207 |
|
|
|
Tax on Dividend |
NA |
NA |
0.200 |
|
|
BALANCE CARRIED
TO THE B/S |
NA |
NA |
61.565 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
NA |
54.196 |
25.926 |
|
|
|
|
|
|
|
|
|
|
IMPORTS VALUE |
NA |
274.943 |
193.836 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
2.64 |
1.21 |
NA |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
0.56
|
0.24
|
1.02 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
NA
|
0.50
|
2.48 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.80
|
0.93
|
4.57 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.12
|
0.04
|
0.16 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
1.73
|
1.83
|
1.47 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.19
|
2.01
|
2.44 |
LOCAL AGENCY FURTHER INFORMATION
SUNDRY CREDITORS
DETAILS:
(Rs.
In Millions)
|
Particulars |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
|
|
|
Sundry Creditors |
135.073 |
147.712 |
66.579 |
|
Total |
135.073 |
147.712 |
66.579 |
DETAILS UNSECURED
LOANS
(Rs. In Millions)
|
Particulars |
|
31.03.2012 |
|
|
|
|
|
Term Loans from Others |
|
12.267 |
|
Working Capital Loans from Banks |
|
151.707 |
|
Loans Repayable on Demand from Others |
|
7.500 |
|
Total |
|
171.474 |
|
Particulars |
|
31.03.2011 |
|
|
|
|
|
From Directors |
|
11.420 |
|
From Directors Relatives |
|
0.150 |
|
From Shareholders |
|
0.350 |
|
From Others |
|
15.240 |
|
Total |
|
27.160 |
NOTE:
The registered office address of the company has been shifted from “501,
A/B, Niranjan, 99, Marine Drive, Mumbai – 400020, Maharashtra, India” to the
present address w.e.f. 20.03.2008
FINANCIAL
PERFORMANCE:
Time and money waits for none and as the time passes the company is moving at a greater speed as compared to the previous year. The company recorded a Net Profit of Rs.5.829 Millions during the year the as against a Net Profit of Rs.2.064 Millions during the previous financial year. In the years to come the company is looking forward to give its best.
FORM 8:
|
Corporate
identity number of the company |
U24110MH1996PTC095899 |
|
Name of the
company |
MPM PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
M-22, 501, A/B, Niranjan, 99, Marindrive, Mumbai-400020, E-Mail Id : deepak@mpmindia.com |
|
This form is for |
Modification of
charge |
|
Charge
identification number of the modified |
10390999 |
|
Type of charge |
Any interest in immovable property |
|
Particular of
charge holder |
Tirupati Urban Co-Operative Bank Limited, 172, Shraddhanand Peth, S.A Road, Nagpur – 440012, Maharashtra, India E-Mail Id : emailroc@rediffmail.com |
|
Nature of
description of the instrument creating or modifying the charge |
Additional
Equitable Mortgage for further Enhancement of Term Loan |
|
Date of
instrument Creating the charge |
23.10.2012 |
|
Amount secured by
the charge |
Rs.45.000
Millions |
|
Brief particulars
of the principal terms and conditions and extent and operation of the charge |
Rate of Interest 14.50% p.a.
monthly rests( SSI Unit) Terms of
Repayment The Term Loan is
repayable in 54 equated monthly inst. of Rs.0.253 Million per month excluding
6 months moratorium Interest to be
served regularly during the moratorium period(Total 60 months i.e.5 years) Margin As agreed by the
Borrower Company with the Bank Extent and
Operation of the charge At the request of
borrower, Bank has sanctioned fresh Term Loan of Rs. 10.000 Millions in
addition to the existing Term Loan of Rs.35.000 Millions ( Total Rs. 45.000 Millions ) secured by continuation of first charge on the lease
hold rights in all that pieces and
parcel of land situated at plot no. J -14 adm. 20500 sq. mtrs. in MIDC
Butibori Industrial Area Taluka and District Nagpur. The Total charge stands
modified from Rs.35.000 Millions to Rs.45.000 Millions |
|
Short particulars
of the property charged |
Continuation of
first charge on the lease hold rights in all that pieces and parcel of land
situated at plot no. J -14 adm. 20500 sq. mtrs. in MIDC Butibori Industrial
Area Taluka and District Nagpur |
|
Particulars of
the present modification |
At the request of
borrower, Bank has sanctioned fresh Term Loan of Rs.10.000 Millions in addition to the
existing Term Loan of Rs.35.000 Millions (Total Rs.45.000 Millions) secured by continuation of first charge on the lease
hold rights in all that pieces and
parcel of land situated at plot no. J -14 adm. 20500 sq. mtrs. in MIDC
Butibori Industrial Area Taluka and District Nagpur. The Total charge stands
modified from Rs.35.000 Millions to Rs.45.000 Millions |
FIXED ASSETS:
·
Land Leasehold
·
Building
·
Plant and Machinery
·
Electrical Installation
·
Generator
·
Computer and Peripherals
·
Furniture and Fixtures
·
Office Equipments
·
Vehicle
·
Truck
·
Lab Equipments
·
Technical Knowhow
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.54.05 |
|
|
1 |
Rs.83.45 |
|
Euro |
1 |
Rs.72.54 |
INFORMATION DETAILS
|
Information
Gathered by : |
PLK |
|
|
|
|
Report Prepared
by : |
BSN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
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 |
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 |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
29 |
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.