MIRA
INFORM REPORT
|
Report Date : |
25.02.2013 |
IDENTIFICATION DETAILS
|
Name : |
KIRAN ALUMINIUM ( |
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Registered
Office : |
229-A, 2nd Floor, Kewal Industrial Estate, Next to Big
Bazar, Senapati Bapat Marg, Lower Parel (West), Mumbai – 400 013, Maharashtra |
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Country : |
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Financials (as
on) : |
31.03.2012 |
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Date of
Incorporation : |
17.07.1995 |
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Com. Reg. No.: |
11-090682 |
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Capital
Investment / Paid-up Capital : |
Rs. 2.500 Millions |
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|
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CIN No.: [Company Identification
No.] |
U51900MH1995PTC090682 |
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|
IEC No.: |
0395037140 |
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|
TAN No.: [Tax Deduction & Collection
Account No.] |
MUMK05823G |
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PAN No.: [Permanent Account No.] |
AAACK2073L |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Trader and Importer of Aluminium Ingots, Sheets, and Coils. |
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No. of Employees
: |
25 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (49) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 354000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having satisfactory track. 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.
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 |
|
Rating |
BB+ [Cash Credit] |
|
Rating Explanation |
Moderate risk of default. |
|
Date |
08.02.2010 |
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 : |
Mr. Girish |
|
Designation : |
Accountant |
|
Contact No.: |
91-9869021174 |
|
Date : |
22.02.2013 |
LOCATIONS
|
Registered Office : |
229-A, 2nd Floor, Kewal Industrial Estate, Next to Big Bazar,
Senapati Bapat Marg, Lower Parel (West), Mumbai – 400 013, Maharashtra, India
|
|
Tel. No.: |
91-22-30406700/ 01/ 02/ 04/ 05/ 06/ 07/ 08/ 09 91-22-66120594 |
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Mobile No.: |
91-9869021174 (Mr. Girish) |
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Fax No.: |
91-22-30406703 |
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E-Mail : |
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Area : |
1500 Sq. Ft. |
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Location : |
Owned |
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Warehouse : |
Bhiwandi, |
DIRECTORS
AS ON 28.09.2012
|
Name : |
Mr. Ramesh Amritlal Vakharia |
|
Designation : |
Director |
|
Address : |
B-706, Chandanbala Apartments, |
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Date of Birth/Age : |
01.11.1948 |
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Qualification : |
Bachelor of Commerce |
|
Date of Appointment : |
17.07.1995 |
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DIN No.: |
01291614 |
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PAN No.: |
AACPV8059-J |
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|
|
|
Name : |
Mr. Jatin Ramesh Vakharia |
|
Designation : |
Director |
|
Address : |
B-706, Chandanbala Apartments, |
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Date of Birth/Age : |
31.08.1974 |
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Qualification : |
Bachelor of Commerce |
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Date of Appointment : |
28.07.1995 |
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DIN No.: |
00840600 |
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PAN No.: |
AABPV3642C |
KEY EXECUTIVES
|
Name : |
Mr. Girish |
|
Designation : |
Accountant |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 28.09.2012
|
Names of Shareholders |
No. of Shares |
|
Jatin R. Vakharia |
20000 |
|
Ramesh A. Vakharia |
30000 |
|
Virbala R. Vakharia |
115000 |
|
R.A. Vakharia HUF |
85000 |
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|
|
|
Total |
250000 |
AS ON 28.09.2012
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Directors
or relatives of directors |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Trader and Importer of Aluminium Ingots, Sheets, and Coils. |
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Products : |
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Imports : |
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Products : |
Aluminium Ingots Sheets and Coils |
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Countries : |
Russia |
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Terms : |
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Selling : |
Cash and Credit [30 Days] |
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Purchasing : |
Cash and Credit [30 Days] |
GENERAL INFORMATION
|
Suppliers : |
·
S.R. Trading Company ·
Shree Krishna Metal Corporation |
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Customers : |
Wholesalers, Retailers and Others [Manufacture] ·
Control Print Limited ·
Abhiman Industries ·
Hari Om Technocrats Private Limited |
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No. of Employees : |
25 (Approximately) |
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Bankers : |
·
The Greater Bombay Co-Operative Bank Limited, Bhuleshwar
Branch, 89, G.B.C.B. House, Mumbai – 400 002, Maharashtra, India ·
Citi Bank, Trent House, 2nd Floor, G Block, Plot
No.C60, Bandra Kurla Complex, Bandra (East), Mumbai-400051, Maharashtra,
India ·
Bank of India, Branch Fort, Mumbai – 400 023,
Maharashtra, India ·
ICICI Bank Limited |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Kirtikumar Shah and Company Chartered Accountants |
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Address : |
207, 2nd Floor, Majestic Shopping Center, J.S.S. Road,
Girgaon, Mumbai-400004, Maharashtra, India |
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Tel. No.: |
91-22-23814305 [Residential] |
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Mobile No.: |
91-9322596431 |
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E-Mail : |
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PAN No: |
AAHPS6009A |
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Associates/Subsidiaries : |
·
Kiran Metal
Corporation Legal
Form: Partnership Firm Year
of Establishment: 1969 Address: 229-A, 2nd
Floor, Kewal Industrial Estate, Next to Big Bazar, Senapati Bapat Marg, Lower
Parel (West), Mumbai - 400 013, Maharashtra, India Line
of Business: Trader and Importer of Aluminium Ingots, Sheets, Coils, etc. |
CAPITAL STRUCTURE
AS ON 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
250000 |
Equity Shares |
Rs.10/- each |
Rs. 2.500 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
250000 |
Equity Shares |
Rs.10/- each |
Rs. 2.500 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 |
2.500 |
2.500 |
2.500 |
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|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
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|
3] Reserves & Surplus |
86.027 |
69.135 |
55.685 |
|
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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|
NETWORTH |
88.527 |
71.635 |
58.185 |
|
|
LOAN FUNDS |
|
|
|
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|
1] Secured Loans |
18.515 |
0.000 |
6.400 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
5.000 |
|
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TOTAL BORROWING |
18.515 |
0.000 |
11.400 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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|
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TOTAL |
107.042 |
71.635 |
69.585 |
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APPLICATION OF FUNDS |
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|
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FIXED ASSETS [Net Block] |
8.894 |
9.192 |
9.868 |
|
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.625 |
1.100 |
0.000 |
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DEFERREX TAX ASSETS |
0.596 |
0.465 |
0.339 |
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
24.478
|
21.941 |
18.579
|
|
|
Sundry Debtors |
56.882
|
24.705 |
28.628
|
|
|
Cash & Bank Balances |
1.245
|
3.495 |
7.585
|
|
|
Other Current Assets |
1.060
|
0.000 |
1.009
|
|
|
Loans & Advances |
42.414
|
36.199 |
25.264
|
|
Total
Current Assets |
126.079
|
86.340 |
81.065 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
2.749
|
6.527 |
5.450 |
|
|
Other Current Liabilities |
1.408
|
1.860 |
1.770
|
|
|
Provisions |
24.995
|
17.075 |
14.467
|
|
Total
Current Liabilities |
29.152
|
25.462 |
21.687 |
|
|
Net Current Assets |
96.927
|
60.878 |
59.378
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
107.042 |
71.635 |
69.585 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
376.058 |
261.100 |
208.285 |
|
|
|
Other Income |
3.502 |
3.305 |
5.455 |
|
|
|
TOTAL (A) |
379.560 |
264.405 |
213.740 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Purchase |
342.139 |
233.617 |
|
|
|
|
Employee Benefits Expenses |
2.292 |
1.789 |
192.850 |
|
|
|
Other Expenses |
8.932 |
8.828 |
|
|
|
|
TOTAL (B) |
353.363 |
244.234 |
192.850 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
26.197 |
20.171 |
20.890 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
0.872 |
0.414 |
0.314 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
25.325 |
19.757 |
20.576 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
0.645 |
0.703 |
0.660 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
24.680 |
19.054 |
19.916 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
7.789 |
5.603 |
6.661 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
16.891 |
13.451 |
13.255 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
69.135 |
55.684 |
42.214 |
|
|
|
|
|
|
|
|
|
Add |
Excess
Provision for Taxation of Earlier Year |
NA |
NA |
0.215 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
86.026 |
69.135 |
55.684 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
67.56 |
53.80 |
53.02 |
|
%20PRIVATE%20LIMITED%20-%20211585%2025-Feb-2013_files/image001.gif){kind=small}
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
4.45
|
5.09 |
6.20 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
6.56
|
7.30 |
9.56 |
|
|
|
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|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
18.29
|
19.95 |
21.90 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.27
|
0.27 |
0.34 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.21
|
0.00 |
0.20 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
4.32
|
3.39 |
3.74 |
LOCAL AGENCY FURTHER INFORMATION
DETAILS OF SUNDRY CREDITORS:
|
Particulars |
31.03.2012 (Rs. in millions) |
31.03.2011 (Rs. in millions) |
31.03.2010 (Rs. in millions) |
|
Sundry Creditors |
2.749
|
6.527 |
5.450 |
|
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 |
Yes |
|
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 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 |
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] |
PAN of Proprietor/Partner/Director, if available |
Yes |
|
32] |
Date
of Birth 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 |
BANKERS CHARGES
REPORT AS PER REGISTRY
|
This form is for |
Modification of
charge |
|
Charge
identification number of the modified |
10274100 |
|
Corporate
identity number of the company |
U51900MH1995PTC090682 |
|
Name of the
company |
KIRAN ALUMINIUM
(INDIA) PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
229-A, 2nd Floor, Kewal Industrial Estate, Next to Big
Bazar, Senapati Bapat Marg, Lower Parel (West), Mumbai – 400 013,
Maharashtra, India |
|
Type of charge |
Immovable
Property |
|
Particular of
charge holder |
Citi Bank, Trent House, 2nd Floor, G Block, Plot No.C60, Bandra Kurla
Complex, Bandra (East), Mumbai-400051, Maharashtra, India Email: vlaxman@vsnl.com |
|
Nature of
description of the instrument creating or modifying the charge |
Modification to
Memorandum of Entry. |
|
Date of
instrument Creating the charge |
12.06.2012 |
|
Amount secured by
the charge |
Rs.50.000
Millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest Interest to be
charged at such rate/s as may be determined 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 Company accorded
and gave oral consent to the Bank to continue to hold and retain the title deeds
(by way of Constructive delivery) in respect of its immovable properties as
security for repayment of credit facilities of Rs.50.000 Millions with
interest, liquidated damages, costs, charges and expenses and all other money
whatsoever due and payable thereon. |
|
Short particulars
of the property charged |
Equitable
Mortgage on Property including Land and Building Situated at RCC Plinth No.
14, 15, 16 and 17, Ground Floor, Building No. J, Globe Complex, Village
Ovali, Taluka Bhiwandi, District Thane. |
|
Particulars of
the present modification |
The charge shall
now stand increased form Rs.30.000 Millions to Rs.50.000 Millions in favour
of the Bank against the security of immovable properties of the Company
situated at RCC Plinth No. 14, 15, 16 and 17, Ground Floor, Building No. J,
Globe Complex, Village Ovali, Taluka Bhiwandi, District Thane. |
NOTE:
The registered office of the company has been shifted from 209, Kika Street, Gulalwadi, Mumbai- 400002, Maharashtra, India to the present address w.e.f. 01.04.2008.
FIXED ASSETS:
·
Property at Bhiwandi
·
Furniture and Fixture
·
Optra Car
·
Maruti Omni
·
Mobile Phone
·
Fax Machine and
·
Electric Weight Scale
·
Scooter
·
Laptop
·
Computer
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.54.43 |
|
|
1 |
Rs.83.20 |
|
Euro |
1 |
Rs.71.91 |
INFORMATION DETAILS
|
Information
Gathered by : |
PLK |
|
|
|
|
Report Prepared
by : |
TPT |
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 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
49 |
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a composite
of weighted scores obtained from each of the major sections of this report. The
assessed factors and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
- |
NB |
New Business |
- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.