MIRA
INFORM REPORT
|
Report Date : |
22.02.2013 |
IDENTIFICATION DETAILS
|
Name : |
NIVO CONTROLS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
8 Mohatta
Bhavan, Off Dr. E Moses Road, Worli, Mumbai - 400019, Maharashtra |
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Country : |
India |
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|
|
Financials (as
on) : |
31.03.2012 |
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|
|
Date of
Incorporation : |
01.01.1980 |
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Com. Reg. No.: |
11-022065 |
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Capital
Investment / Paid-up Capital : |
Rs. 0.583
Million |
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|
|
CIN No.: [Company Identification
No.] |
U99999MH1980PTC022065 |
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|
|
|
Legal Form : |
Private Limited Liability Company |
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|
|
Line of Business
: |
Manufacturer, Exporter and Importer of Tank Gauging and Flow Measuring
Instruments. |
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|
|
No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (44) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 82000 |
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|
Status : |
Satisfactory |
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|
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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 satisfactory track record. The profit has dipped slightly during 2012. However, networth appears
to be convincing. Debt-equity ratio is also moderate. Trade relations are reported as decent. Business is active. Payment
terms are slow but correct. The company can be considered normal for business dealings at usual
trade terms and condition. Note: Mr. Krishnani,
Deputy General Manager (Madhya Pradesh Financial Corporation) has reported
that the company maintains excellent relation with them and also proper. |
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
|
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 (GENERAL DETAILS)
|
Name : |
Ms. Usha |
|
Designation : |
Accounts Department |
|
Contact No.: |
91-731-4081300 |
|
Date : |
20.02.2013 |
LOCATIONS
|
Registered Office : |
8 Mohatta
Bhavan, Off Dr. E Moses Road, Worli, Mumbai - 400019, Maharashtra, India |
|
Tel. No.: |
91-22-28470728 |
|
Fax No.: |
91-22-28470763 |
|
E-Mail : |
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|
Website : |
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|
Location : |
Rented |
|
|
|
|
Factory : |
104-115, Electronics Complex, Indore – 452010, Madhya Pradesh, India |
|
Tel. No.: |
91-731-4081300 |
|
Fax No.: |
91-731-2550075 |
|
E-Mail : |
|
|
Location : |
Rented |
DIRECTORS
AS ON 29.09.2012
|
Name : |
Mr. Arun Bhagwandas Toshniwal |
|
Designation : |
Director |
|
Address : |
16, Ishwar Bhavan, A. B. Road, Mumbai – 400020, Maharashtra, India |
|
Date of Appointment : |
01.01.1980 |
|
DIN No.: |
00144662 |
|
|
|
|
Name : |
Mr. Praveen Toshniwal |
|
Designation : |
Director |
|
Address : |
3, Dr. Roshan Singh, Bhandari Marg, Indore – 452003, Madhya Pradesh,
India |
|
Date of Appointment : |
01.01.1980 |
|
DIN No.: |
00474878 |
|
|
|
|
Name : |
Mr. Nitin Ramchandra Tamhane |
|
Designation : |
Director |
|
Address : |
101, Ajay Apartment, 16 Hansraj Lane, Byculla, Mumbai – 400027,
Maharashtra, India |
|
Date of Appointment : |
09.07.2009 |
|
DIN No.: |
02608346 |
KEY EXECUTIVES
|
Name : |
Ms. Usha |
|
Designation : |
Accounts Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 29.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
Kamla Toshniwal |
|
350 |
|
Madhulika Toshniwal |
|
956 |
|
Praveen Toshniwal |
|
1820 |
|
Khushagra Toshniwal |
|
282 |
|
Varun Toshniwal |
|
275 |
|
Nivo Holding Private Limited, India |
|
2150 |
|
|
|
|
|
Total |
|
5833 |
AS ON 29.09.2012
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Bodies
corporate |
|
37.00 |
|
Directors
or relatives of directors |
|
63.00 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer, Exporter and Importer of Tank Gauging and Flow Measuring
Instruments. |
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Products : |
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Exports : |
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Products : |
Finished Goods |
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Countries : |
Ø Thailand Ø Italy Ø Netherlands |
GENERAL INFORMATION
|
No. of Employees : |
Information declined by the management |
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Bankers : |
Ø State Bank of
India Ø ICICI Bank
Limited |
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Facilities : |
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Banking
Relations : |
-- |
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Financial Institution : |
Madhya Pradesh Financial Corporation, Finance House, A.B. Road, Indore
– 452001, Madhya Pradesh, India (Tel No.: 91-731-2522921) |
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|
|
|
Auditors : |
|
|
Name : |
H.N. Jhavar and Company Chartered Accountants |
|
Address : |
203, Sapphire House, 9, Sneh Nagar Main Road, Indore – 452001, Madhya
Pradesh, India |
|
Tel. No.: |
91-731-2760325 |
|
Income-tax
PAN of auditor or auditor's firm : |
AAAFH9839C |
|
|
|
|
Companies over which the Directors have significant influences or control
: |
Ø Toshbro Controls
Private Limited Address: Powai, Mumbai,
Maharashtra, India Line of
business: Trader of Tank Gauging Ø Nivo Instruments
Private Limited Ø Nivo Holdings
Private Limited |
CAPITAL STRUCTURE
AS ON 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10,000 |
Equity Shares |
Rs. 100/- each |
Rs. 1.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5,833 |
Equity Shares |
Rs. 100/- each |
Rs. 0.583
Million |
|
|
|
|
|
Reconciliation of the shares outstanding at the beginning and at the end
of the reporting period
|
Equity Shares |
31.03.2012 |
|
|
|
Number |
Amount |
|
Shares outstanding at the beginning of the
year |
5833 |
0.583 |
|
Shares issued during the year |
-- |
-- |
|
Shares bought back during the year |
-- |
-- |
|
Any other movement |
-- |
-- |
|
Shares outstanding at the end of the year |
5833 |
0.583 |
Terms/ rights attached to equity shares
The company has only one class of equity
shares having a par value of Rs. 100 per share and each holder of equity shares
is entitled to one vote per share. In the event of liquidation of the company,
the holders of the equity shares will be entitled to receive remaining assets
of the company, after distribution of all preferential amounts. The
distribution will be in proportion of the number of equity shares held by the
shareholders.
Details of shareholders holding more than 5% shares in the company
|
Equity Shares |
31.03.2012 |
|
|
|
Number |
Amount |
|
Nivo Holding Private Limited, India |
2150 |
36.86 |
|
Praveen Toshniwal |
1820 |
31.20 |
|
Madhulika Toshniwal |
956 |
16.39 |
|
Kamla Toshniwal |
350 |
6.00 |
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 |
0.583 |
0.583 |
0.583 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
20.000 |
19.152 |
17.215 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
20.583 |
19.735 |
17.798 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
14.827 |
20.416 |
26.303 |
|
|
2] Unsecured Loans |
28.760 |
17.833 |
9.471 |
|
|
TOTAL BORROWING |
43.587 |
38.249 |
35.774 |
|
|
DEFERRED TAX LIABILITIES |
1.336 |
1.465 |
1.403 |
|
|
|
|
|
|
|
|
TOTAL |
65.506 |
59.449 |
54.975 |
|
|
|
|
|
|
|
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APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
13.809 |
13.311 |
13.333 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.009 |
0.009 |
0.009 |
|
|
DEFERRED TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
41.972
|
34.311 |
21.845 |
|
|
Sundry Debtors |
21.936
|
38.960 |
31.947 |
|
|
Cash & Bank Balances |
2.612
|
1.653 |
2.196 |
|
|
Other Current Assets |
8.162
|
8.407 |
0.000 |
|
|
Loans & Advances |
1.160
|
1.184 |
6.230 |
|
Total
Current Assets |
75.842
|
84.515 |
62.218 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
8.467
|
15.156 |
15.421 |
|
|
Other Current Liabilities |
11.261
|
17.764 |
5.432 |
|
|
Provisions |
4.426
|
5.466 |
4.298 |
|
Total
Current Liabilities |
24.154
|
38.386 |
25.151 |
|
|
Net Current Assets |
51.688
|
46.129 |
37.067 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
4.566 |
|
|
|
|
|
|
|
|
TOTAL |
65.506 |
59.449 |
54.975 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
112.561 |
108.025 |
103.898 |
|
|
|
Other Income |
0.496 |
0.345 |
3.032 |
|
|
|
TOTAL |
113.057 |
108.370 |
106.930 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
56.966 |
47.487 |
|
|
|
|
(Increase) in inventories of finished goods work-in-progress and stock-in-trade
|
(5.222) |
(0.005) |
|
|
|
|
Employee benefits expenses |
24.267 |
23.035 |
|
|
|
|
Other Expenses |
27.484 |
27.855 |
|
|
|
|
TOTAL |
103.495 |
98.372 |
99.314 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
9.562 |
9.998 |
7.616 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
5.482 |
4.386 |
2.989 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
4.080 |
5.612 |
4.627 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
2.806 |
2.736 |
1.864 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
1.274 |
2.876 |
2.763 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
0.222 |
0.736 |
0.823 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
1.052 |
2.140 |
1.940 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’
BALANCE BROUGHT FORWARD |
6.320 |
4.633 |
3.147 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
0.125 |
0.250 |
0.250 |
|
|
|
Dividend |
0.175 |
0.175 |
0.175 |
|
|
|
Tax on Dividend |
0.028 |
0.028 |
0.029 |
|
|
BALANCE CARRIED
TO THE B/S |
7.044 |
6.320 |
4.633 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export (FOB Value) |
10.163 |
6.902 |
5.474 |
|
|
|
Agency Commission |
0.000 |
0.000 |
0.274 |
|
|
TOTAL |
10.163 |
6.902 |
5.748 |
|
|
|
|
|
|
|
|
|
|
CIF VALUE OF
IMPORTS |
14.029 |
12.012 |
10.003 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
180.35 |
366.86 |
332.65 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
0.93
|
1.97 |
1.81 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
1.13
|
2.66 |
2.66 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.42
|
2.94 |
3.66 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.06
|
0.15 |
0.16 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
2.12
|
1.94 |
0.50 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
3.14
|
2.20 |
2.47 |
LOCAL AGENCY FURTHER INFORMATION
SUNDRY CREDITORS
DETAILS:
|
Particulars |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
(Rs. In Millions) |
||
|
Dues to Others |
8.467 |
15.156 |
15.421 |
|
|
|
|
|
|
Note: Details of dues to Micro, Small and Medium Enterprises as per MSMED Act,
2006. There are no overdues to parties covered under the Micro and Small
enterprises as per MSMED Act, 2006. During the year no interest has been paid
to such parties. This information has been determined to the extent such
parties have been indentified on the basis of information available with the
company. |
|||
|
Sr. No. |
Check List by Info Agents |
Available in
Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
No |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact
person |
Yes |
|
11] |
Turnover of firm for last
three years |
Yes |
|
12] |
Profitability for last
three years |
Yes |
|
13] |
Reasons for variation
<> 20% |
-- |
|
14] |
Estimation for coming
financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
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 |
No |
|
32] |
PAN of
Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of Proprietor/Partner/Director,
if available |
No |
|
34] |
External Agency Rating,
if available |
No |
UNSECURED LOANS
|
Unsecured Loans |
31.03.2012 |
31.03.2011 |
|
|
(Rs. In Millions) |
|
|
Loans from
related parties |
|
|
|
From Directors |
9.189 |
5.047 |
|
From Shareholders |
0.317 |
0.865 |
|
Vehicle loans from State Bank of India SBI Car (Swift) Loan (Repayable in 36 equal monthly installations, last installment falling
due on June 12, 2013. Interest rate as at 31.03.2012-12.50% p.a.) |
0.000 |
0.015 |
|
SBI Car (AVO) Loan (Repayable in 60 equal monthly installations, last installment falling
due on Feb 2015. Interest rate as at 31.03.2012-13% p.a.) |
0.160 |
0.263 |
|
SBI Car (Honda Civic) (Repayable in 60 equal monthly installations, last installment falling
due on March 2017. Interest rate as at 31.03.2012-11.25% p.a.) |
0.928 |
0.000 |
|
From Shareholders |
15.091 |
8.466 |
|
Repayable on Demand. Rate of Interest applicable is 12% p.a. Inter corporate deposit |
1.778 |
1.604 |
|
Relatives of Directors and Shareholders |
1.297 |
1.573 |
|
Total |
28.760 |
17.833 |
WORKING RESULTS:
During the current year the company achieved sales turnover of Rs.
110.100 Millions as compared to Rs. 105.000 Millions for the previous year. The
current years turnover includes export turnover of Rs. 10.200 Millions
(Previous year Rs. 6.900 Millions).
CONTINGENT
LIABILITIES NOT PROVIDED FOR:
a. Guarantees given by Bank on behalf of the Company Rs. 5.048 Millions.
Fixed Deposit receipts worth Rs. 2.454 Millions have been pledges with the
banks against the Guarantees.
b. Income Tax assessment completed upto assessment year 2009-2010.
Income Tax demand of Rs. 0.034 Million for the Assessment Year 2001-02 not
provided, as the Company has preferred appeals against the same. Income tax
demand has already been paid by the Company and shown under the head Advance
Income Tax under Loans and Advances.
c. Sales Tax assessment completed upto Financial Year 2008-2009. Sales
Tax demand of Rs. 1.604 Millions raised due to not receipt of declaration forms
not provided, as the Company has preferred appeals against the same.
FIXED ASSETS:
Ø Land
Ø Building
Ø Plant and
Machinery
Ø Testing Equipment
Ø Cooling Equipment
Ø Dies
Ø Electric
Installation
Ø Computer
Ø Office Equipment
Ø Vehicles
Ø Furniture and
Fixture
Ø 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 records 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. 54.48 |
|
|
1 |
Rs. 82.71 |
|
Euro |
1 |
Rs. 72.23 |
INFORMATION DETAILS
|
Information
Gathered by : |
PLK |
|
|
|
|
Report Prepared
by : |
BVA |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
2 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
44 |
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.