|
Report Date : |
11.01.2013 |
IDENTIFICATION DETAILS
|
Name : |
BRINDCO SALES LIMITED |
|
|
|
|
Registered
Office : |
S-53, Okhla Industrial Area, Phase-II, New
Delhi – 110020, Delhi |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
27.04.1984 |
|
|
|
|
Com. Reg. No.: |
55-018032 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 495.000 millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U52110DL1984PLC018032 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMB15024C |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACB3997N |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company. |
|
|
|
|
Line of Business
: |
Manufacturer and Importer of Liquor and Beer. |
|
|
|
|
No. of Employees
: |
150 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (42) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 3010000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track record.
The latest financial are not made available with the government department. As per previous year’s, the company seems to be high. Financial seems
to be strong. 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 with slight
caution. |
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.
LOCATIONS
|
Registered Office : |
S – 53, Okhla Industrial Area, Phase – II, |
|
Tel. No.: |
91-11-51616424/ 26388707/ 26383261/ 40646666 |
|
Fax No.: |
91-11-26385294/ 26386618/ 40646684 |
|
E-Mail : |
|
|
Website : |
DIRECTORS
As on 29.09.2012
|
Name : |
Mr. Brinder Pal Singh |
|
Designation : |
Managing Director |
|
Address : |
E – 38, Kalindi, Maharani Bagh, |
|
Date of Birth/Age : |
15.05.1945 |
|
Date of Appointment : |
28.09.2006 |
|
DIN No.: |
00268202 |
|
|
|
|
|
|
|
Name : |
Mr. Smirit Dhall |
|
Designation : |
Director |
|
Address : |
E – 38, Kalindi, Maharani Bagh, |
|
Date of Birth/Age : |
31.07.1950 |
|
Date of Appointment : |
28.09.2006 |
|
DIN No.: |
00268390 |
|
|
|
|
|
|
|
Name : |
Mr. Amandeep Singh Dhall |
|
Designation : |
Director |
|
Address : |
E – 38, Kalindi, Maharani Bagh, |
|
Date of Birth/Age : |
19.12.1972 |
|
Date of Appointment : |
01.07.2004 |
|
DIN No.: |
00497674 |
|
|
|
|
|
|
|
Name : |
Ms. Simer Dhill |
|
Designation : |
Additional Director |
|
Address : |
E – 38, Kalindi, Maharani Bagh, New Delhi – 110065, India |
|
Date of Birth/Age : |
15.01.1983 |
|
Date of Appointment : |
14.05.2012 |
|
DIN No.: |
05279351 |
|
|
|
MAJOR SHAREHOLDERS
As on 29.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
Brinder Pal Singh |
|
1511290 |
|
Simrit Dhall |
|
190520 |
|
Indra Dhall |
|
233200 |
|
Aman Deep Singh |
|
979880 |
|
Simer Dhall |
|
413600 |
|
Brindco Enterprises
Private Limited |
|
761200 |
|
Brindco Investment
Private Limited |
|
860200 |
|
|
|
110 |
|
Total |
|
4950000 |
Equity Share Break up (Percentage of Total Equity)
As on 29.09.2012
|
Category |
Percentage |
|
Bodies corporate |
32.75 |
|
Directors or relatives of Directors |
67.25 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Importer of Liquor and Beer. |
||||||
|
|
|
||||||
|
Products : |
|
||||||
|
|
|
GENERAL INFORMATION
|
No. of Employees : |
150 (Approximately) |
||||||||||||
|
|
|
||||||||||||
|
Bankers : |
·
Bank of Punjab Limited , SCO, 4647, Bank Of
Punjab Square, Sector 9 D, Chandigarh – 141001,
Punjab, India ·
Axis Bank, 2nd Floor, Statesman House, 148, Barakhamba
Road, New Delhi – 110001, Delhi, India ·
Bank of India ,
Jhandewalan Branch ·
HDFC (Centurion Bank of Punjab), Ludhiana, Punjab, India ·
Punjab
and Sind Bank , Sunet
Branch, Ludhiana – 141001, Punjab, India |
||||||||||||
|
|
|
||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
--- |
|
|
|
|
Auditors : |
|
|
Name : |
Davinder Pal Singh and Company Chartered Accountants |
|
Address : |
524-I, |
|
Tel. No.: |
91-161-2422279/ 2422284 |
|
Mobile No.: |
91-9814025756 |
|
PAN No.: |
AACFD9217D |
|
|
|
CAPITAL STRUCTURE
As on 29.09.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5000000 |
Equity Shares |
Rs.100/- each |
Rs. 500.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4950000 |
Equity Shares |
Rs.100/- each |
Rs. 495.000 Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are in
Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
495.000 |
30.000 |
45.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
258.346 |
618.518 |
544.006 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
753.346 |
648.518 |
589.006 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
545.296 |
445.388 |
310.907 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
545.296 |
445.388 |
310.907 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
1298.642 |
1093.906 |
899.913 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
45.592 |
51.224 |
50.845 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
177.146 |
177.146 |
177.146 |
|
|
DEFERRED TAX ASSETS |
3.784 |
3.026 |
2.505 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
266.499
|
172.862
|
222.415
|
|
|
Sundry Debtors |
862.106
|
661.708
|
388.067
|
|
|
Cash & Bank Balances |
92.226
|
67.870
|
55.651
|
|
|
Other Current Assets |
1.490
|
0.066
|
1.226
|
|
|
Loans & Advances |
230.027
|
198.304
|
232.255
|
|
Total
Current Assets |
1452.348
|
1100.810 |
899.614 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
193.724
|
118.774 |
165.430
|
|
|
Other Current Liabilities |
47.811
|
42.589
|
23.465
|
|
|
Provisions |
140.877
|
76.937
|
41.302
|
|
Total
Current Liabilities |
382.412
|
238.300 |
230.197 |
|
|
Net Current Assets |
1069.936
|
862.510 |
669.417 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
2.184 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
1298.642 |
1093.906 |
899.913 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
2978.898 |
2040.273 |
1979.591 |
|
|
|
Other Income |
58.878 |
51.222 |
49.181 |
|
|
|
TOTAL (A) |
3037.776 |
2091.495 |
2028.772 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Consumption materials changes inventories |
2533.210 |
1709.994 |
1657.831 |
|
|
|
Employee related expenses |
71.202 |
63.785 |
61.795 |
|
|
|
Administrative selling other expenses |
190.180 |
152.359 |
162.843 |
|
|
|
TOTAL (B) |
2794.592 |
1926.138 |
1882.469 |
|
|
|
|
|
165.357 |
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
243.184 |
165.357 |
146.303 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
55.948 |
44.076 |
37.556 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
187.236 |
121.281 |
108.747 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
12.015 |
12.016 |
11.675 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
175.221 |
109.265 |
97.072 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
62.893 |
34.753 |
35.603 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
112.328 |
74.512 |
61.469 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
546.018 |
486.506 |
425.037 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED TO
THE B/S |
658.346 |
561.018 |
486.506 |
|
|
|
|
|
|
|
|
|
|
REDEMPTION OF
75000 / 15000 SHARES 10% NON CUMULATIVE REDDEMABLE PREFERENCE SHARES OF
RS.100/- EACH OUT OF PROFIT |
7.500 |
15.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Sales |
68.595 |
86.171 |
-- |
|
|
TOTAL EARNINGS |
68.595 |
86.171 |
-- |
|
|
|
|
|
|
|
|
|
|
CIF Value of
Imports |
|
|
|
|
|
|
|
Purchase |
602.452 |
341.189 |
-- |
|
|
TOTAL IMPORTS |
602.452 |
341.189 |
-- |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
215.89 |
331.17 |
313.18 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
3.70
|
3.56
|
3.03
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
5.77
|
5.35
|
4.90
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
11.70
|
9.48
|
10.21
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.23
|
0.16
|
0.16
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.23
|
1.05
|
0.92
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
3.80
|
4.62
|
3.91
|
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 |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
Yes |
|
9] |
Name of person contacted |
No |
|
10] |
Designation of contact
person |
No |
|
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 |
No |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details
(if applicable) |
No |
|
21] |
Market information |
-- |
|
22] |
Litigations that the firm
/ promoter involved in |
-- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking
account |
-- |
|
26] |
Buyer visit details |
-- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
Yes |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of
Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
No |
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate
identity number of the company |
U52110DL1984PLC018032 |
|
Name of the
company |
BRINDCO SALES
LIMITED |
|
Address of the registered
office or of the principal place of
business in |
S – 53, Okhla Industrial Area, Phase – II, |
|
This form is for |
Creation of charge |
|
Charge identification
(ID) number of the charge to be modified |
|
|
Type of charge |
· Book debts · Others |
|
Particular of
charge holder |
Axis Bank Limited. 2nd Floor, Statesman House 148, Barakhamba Road New Delhi – 110001 Delhi, India |
|
Nature of instrument
creating charge |
DEED OF
HYPOTHECATION OF CURRENT ASSETS (STOCKS AND BOOK DEBTS) |
|
Date of
instrument Creating the charge |
16.05.2012 |
|
Amount secured by
the charge |
Rs. 300.000 Millions |
|
Brief of the principal
terms an conditions and extent and operation of the charge |
Rate of Interest As per sanction
letter no. AXISB/MC-1/DEL/AM/592 dated 28.03.2012 to be amended from time to
time. Terms of
Repayment As Per Sanction
Letter No. AXISB/MC-1/DEL/AM/592 Dated 28.03.2012 To Be Amended From Time To
Time. Margin As Per Sanction
Letter No. AXISB/MC-1/DEL/AM/592 Dated 28.03.2012 To Be Amended From Time To
Time. Extent and
Operation of the charge First Pari Passu Charge Others The above is to secure
the following :- Cash Credit / WCDL
= RS.300.00 Millions FCNR =
(Rs.300.00 Millions) Letter of Credit = (Rs.300.00
Millions) LOU/SBLC for Buyer's Credit
= (Rs.300.00 Millions) PCFC/PSCFC = (Rs. 50.00 Millions) |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
Hypothecation by
way of first pari passu
charges over all present and future current assets of the company stored or
to be stored at the company's godowns or premises
or wherever else the same may be. |
Contingent
liabilities not provided for in respect of
Bank guarantees outstanding Rs.40.547 Millions (Previous Year 22.336 Millions)
Fixed Assets
·
Land
·
Building
·
Generators
·
Office Equipments
·
Air conditioners / Coolers
·
Furniture and Fixture
·
Vehicles
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.54.63 |
|
|
1 |
Rs.87.50 |
|
Euro |
1 |
Rs.71.32 |
INFORMATION DETAILS
|
Report Prepared
by : |
SPN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--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 |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
42 |
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.