MIRA
INFORM REPORT
|
Report Date : |
09.01.2013 |
IDENTIFICATION DETAILS
|
Name : |
LEISTER TECHNOLOGIES INDIA PRIVATE LIMITED (w,e.f. 03.12.2012) |
|
|
|
|
Formerly Known
As : |
LIPI POLYMERS PRIVATE LIMITED |
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|
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Registered
Office : |
Plot No. 32, Nehru Nagar, 1st Link Street, Old
Mahabalipuram Road, Kottivakkam, Chennai – 600041, Tamilnadu |
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Country : |
India |
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Financials (as
on) : |
31.03.2012 |
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Date of
Incorporation : |
14.07.2008 |
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Com. Reg. No.: |
18-068552 |
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Capital
Investment / Paid-up Capital : |
Rs. 3.300 Millions |
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|
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CIN No.: [Company Identification
No.] |
U74999TN2008PTC068552 |
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|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
CHEL04377C |
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PAN No.: [Permanent Account No.] |
AABCL4913B |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer and Exporter of Plastic Welding Machines and Equipments. |
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No. of Employees
: |
50 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 13000 |
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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 record. Trade
relations are reported as fair. Business is active. Payments are reported to
be usually correct and as per commitments. The company can be considered normal for business dealings at usual
trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – June 30, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
India is developing into an open-market economy, yet traces
of its past autarkic policies remain. Economic liberalization, including
industrial deregulation, privatization of state-owned enterprises, and reduced
controls on foreign trade and investment, began in the early 1990s and has
served to accelerate the country's growth, which has averaged more than 7% per
year since 1997. India's diverse economy encompasses traditional village
farming, modern agriculture, handicrafts, a wide range of modern industries,
and a multitude of services. Slightly more than half of the work force is in
agriculture, but services are the major source of economic growth, accounting
for more than half of India's output, with only one-third of its labor force.
India has capitalized on its large educated English-speaking population to
become a major exporter of information technology services and software
workers. In 2010, the Indian economy rebounded robustly from the global
financial crisis - in large part because of strong domestic demand - and growth
exceeded 8% year-on-year in real terms. However, India's economic growth in
2011 slowed because of persistently high inflation and interest rates and
little progress on economic reforms. High international crude prices have
exacerbated the government's fuel subsidy expenditures contributing to a higher
fiscal deficit, and a worsening current account deficit. Little economic reform
took place in 2011 largely due to corruption scandals that have slowed legislative
work. India's medium-term growth outlook is positive due to a young population
and corresponding low dependency ratio, healthy savings and investment rates,
and increasing integration into the global economy. India has many long-term
challenges that it has not yet fully addressed, including widespread poverty,
inadequate physical and social infrastructure, limited non-agricultural
employment opportunities, scarce access to quality basic and higher education,
and accommodating rural-to-urban migration.
|
Source
: CIA |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter in
the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
INFORMATION PARTED BY
|
Name : |
Mr. D Jaganath |
|
Designation : |
Sales Manager |
|
Contact No.: |
91-9003096812 |
|
Date : |
03.01.2012 |
LOCATIONS
|
Registered Office : |
Plot No. 32, Nehru Nagar, 1st Link Street, Old
Mahabalipuram Road, Kottivakkam, Chennai – 600041, Tamilnadu, India |
|
Tel. No.: |
91-44-24543436/24543444/24543389 |
|
Fax No.: |
91-44-24543435/24523435 |
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E-Mail : |
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Website : |
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|
Area : |
1800 Sq. ft |
|
Location : |
Owned |
|
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|
|
Factory : |
105, 2nd Link
Street, Nehru Nagar, Rajiv Gandhi Salai, Kottivakkam, Chennai –
600041, Tamilnadu, India |
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Branches : |
Located at ·
Pune ·
Bombay ·
Kolkata ·
Ahmadabad ·
Delhi |
DIRECTORS
AS ON 30.09.2012
|
Name : |
Mr. Chirstian Lister |
|
Designation : |
Director |
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|
|
|
Name : |
Mr. Durai Arun Kumar |
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Designation : |
Director |
|
Address : |
No.19, Old No. 5/3, Gangaiamman Koil Street, Kodambakkam, Chennai-
600024, Tamilnadu, India |
|
Date of Birth/Age : |
30.01.1970 |
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Qualification : |
BE |
|
Date of Appointment : |
14.07.2008 |
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DIN No.: |
02133086 |
Other Directorship:
|
S.No. |
CIN/LLPIN |
Name of the
Company/ LLP |
Current
designation of the Director/ Designated Partner |
Date of
appointment at current designation |
Original date of
appointment |
Date of
cessation |
Company/ LLP
Status |
Defaulting
status |
|
1 |
U74999TN2008PTC068552 |
LEISTER
TECHNOLOGIES INDIA PRIVATE LIMITED |
Director |
14/07/2008 |
14/07/2008 |
- |
Active |
NO |
|
2 |
U74999TN2011PTC082449 |
AQUA POLYFIT
INDIA PRIVATE LIMITED |
Director |
22/09/2011 |
22/09/2011 |
- |
Active |
NO |
KEY EXECUTIVES
|
Name : |
Mr. D Jaganath |
|
Designation : |
Sales Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2012
|
Names of Shareholders |
No. of Shares |
|
Mr. Mathew Varghese |
250000 |
|
Mr. Durai Arun Kumar |
250000 |
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|
|
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TOTAL
|
500000 |
AS ON 30.09.2012
|
Equity Shares
Break Up |
Percentage of
Holding |
|
Directors or relatives of Directors |
100.00 |
|
TOTAL |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Plastic Welding Machines and Equipments. |
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Products : |
·
Hot Air Guns ·
Tarpaulin and Flex Seaming Machines ·
Wedge Welding Machines ·
Extruders ·
Heaters and Blowers ·
U- PVC Window Manufacturing Machines etc. |
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Exports : |
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Products : |
·
Plastic Welding ·
Machines and Equippment |
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Countries : |
·
Sri Lanka ·
Bangladesh ·
Nepal ·
Bhutan |
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Imports : |
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Products : |
·
Raw Material |
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Countries : |
·
Sri Lanka ·
Switzerland |
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Terms : |
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Selling : |
Cash, Credit |
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Purchasing : |
Cash, Credit |
GENERAL INFORMATION
|
Customers : |
·
Nilkamal Industries |
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No. of Employees : |
50 (Approximately) |
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Bankers : |
·
ICICI
Bank Limited, Landmarkrace Cource Circle, Alkapuri, Baroda – 390015, Gujarat,
India ·
CITI
BANk, 163, Second Floor, Anna Salai, Chennai – 600002, Tamil Nadu, India Email ID : karthikeyan1.j@citi.com |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Victoria Mathew and Santha Kumar Chartered Accountant |
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Address : |
Z-1, Lotus Colony, Nandanam, Chennai – 600035, |
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Tel. No.: |
91-44-24338963 |
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PAN No.: |
AABPM0763D |
CAPITAL STRUCTURE
AS ON 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
500000 |
Equity Shares |
Rs.10/- each |
Rs. 5.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
330000 |
Equity Shares |
Rs.10/- each |
Rs. 3.300
Millions |
AS ON 29.09.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
500000 |
Equity Shares |
Rs.10/- each |
Rs. 5.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
500000 |
Equity Shares |
Rs.10/- each |
Rs. 5.000
Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
3.300 |
3.300 |
3.300 |
|
|
2] Share Application Money |
0.000 |
0.000 |
1.300 |
|
|
3] Reserves & Surplus |
29.835 |
18.090 |
7.772 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
33.135 |
21.390 |
12.372 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
4.981 |
2.968 |
1.245 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
4.981 |
2.968 |
1.245 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.063 |
|
|
|
|
|
|
|
|
TOTAL |
38.116 |
24.358 |
13.680 |
|
|
|
|
|
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APPLICATION OF FUNDS |
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|
|
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|
|
|
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FIXED ASSETS [Net Block] |
2.636 |
1.991 |
2.760 |
|
|
Capital work-in-progress |
0.000 |
0.086 |
0.000 |
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|
|
|
|
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INVESTMENT |
0.000 |
0.000 |
0.000 |
|
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DEFERREX TAX ASSETS |
0.180 |
0.000 |
0.000 |
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|
|
|
|
|
|
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
41.778
|
29.524 |
16.951 |
|
|
Sundry Debtors |
19.484
|
8.980 |
7.504 |
|
|
Cash & Bank Balances |
2.381
|
2.899 |
0.919 |
|
|
Other Current Assets |
0.066
|
0.078 |
0.000 |
|
|
Loans & Advances |
9.089
|
3.239 |
1.049 |
|
Total
Current Assets |
72.798
|
44.720 |
26.423 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
20.192
|
10.816 |
12.792 |
|
|
Other Current Liabilities |
10.836
|
6.543 |
0.000 |
|
|
Provisions |
6.470
|
5.080 |
2.800 |
|
Total
Current Liabilities |
37.498
|
22.439 |
15.592 |
|
|
Net Current Assets |
35.290
|
22.281 |
10.831 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.089 |
|
|
|
|
|
|
|
|
TOTAL |
38.116 |
24.358 |
13.680 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
137.807 |
115.092 |
74.159 |
|
|
|
Other Income |
1.336 |
1.022 |
0.000 |
|
|
|
TOTAL (A) |
139.143 |
116.114 |
74.159 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Purchased of stock in trade |
107.111 |
93.555 |
|
|
|
|
Changes in inventories of Finished Goods, Stock in Process and Stock
in Trade |
(12.253) |
(12.572) |
65.503 |
|
|
|
Employee benefit Expense |
7.093 |
6.756 |
|
|
|
|
Other Expenses |
16.512 |
11.673 |
|
|
|
|
TOTAL (B) |
118.463 |
99.412 |
65.503 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
20.680 |
16.702 |
8.656 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
1.420 |
0.638 |
NA |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
19.260 |
16.064 |
NA |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
0.692 |
0.706 |
NA |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
18.568 |
15.358 |
8.656 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
6.377 |
4.930 |
2.823 |
|
|
|
|
|
|
|
|
|
Less |
Adjustment For
Last Year |
0.447 |
0.110 |
NA |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
11.744 |
10.318 |
5.833 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
35.59 |
31.27 |
1.76 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
8.44
|
8.89 |
7.86 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
13.47
|
13.34 |
11.67 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
24.61
|
32.88 |
29.66 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.56
|
0.71 |
0.70 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.13
|
1.05 |
1.26 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.94
|
1.99 |
1.69 |
LOCAL AGENCY FURTHER INFORMATION
|
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 |
Yes |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
No |
|
17] |
Major suppliers |
No |
|
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 |
No |
|
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 |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
No |
FORM 8
|
Corporate
identity number of the company |
U74999TN2008PTC068552 |
|
Name of the
company |
LIPI POLYMERS
PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
Plot No. 32,
Nehru Nagar 1st Link Street, Old Mahabalipuram Road, Kottivakkam,
Chennai – 600041, Tamil Nadu, India Email Id : pcschn1@gmail.com |
|
This form is for |
Creation
of charge |
|
Type of charge |
Book debts Movable property (not being pledge) Other |
|
Particular of
charge holder |
CITI BANk, 163,
Second Floor, Anna Salai, Chennai – 600002, Tamil Nadu, India Email ID : karthikeyan1.j@citi.com |
|
Nature of
instrument creating charge |
Goods Security
Agreement |
|
Date of
instrument Creating the charge |
29.11.2011 |
|
Amount secured by
the charge |
Rs. 15.000
Millions |
|
Brief of the principal
terms an conditions and extent and operation of the charge |
Rate of Interest All other terms
and conditions are as per the existing charge and extent and operation of the
charge. Terms of repayment All facilities
are repayable on demand. Repayable
Together with all interest, cost, charges, expenses which may accrue or
debited to the respective accounts from time to time. All other terms and
conditions are as per the sanction letter and as determined by the banker
from time to time Margin All other terms
and conditions are as per the existing charge and as determined by the banker
from time to time Extent and operation of the charge Operates as first
charge in favour of the bank. Charge on the mortgaged/hypothecated assets
shall be held by the bank as security till the complete closure of the credit
limit sanctioned to the company. All other terms
and conditions are per the existing charge and as per the existing charge and
as determined by the banker from time to time. Others All other terms and
conditions as per the above agreements |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
First exclusive
charge by way of Hypothecation of all the Borrower’s moveable assets (including
stocks and book debts forming part of its current assets both present and
future |
TRADE REFERENCES
·
Nilkamal Industries
FIXED ASSETS
· Computers
· Cell Phone
· Air Conditioner
· Printer
· Furniture and Fittings
· Motor Vehicle
· Software
· Electronic Weighing Machine
· Bench Grinder
· Infrared Thermometre
· Variable Islator Tranformer
· Digital Camera
· HVT High Voltagebreakdown Te
· Fusion 3C
· Delta Dragon 315
· Gamma 100 Welding Machine
· Roll up Stand
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.55.32 |
|
|
1 |
Rs.89.05 |
|
Euro |
1 |
Rs.72.56 |
INFORMATION DETAILS
|
Report Prepared
by : |
SPR |
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 |
|
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
45 |
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.