|
Report Date : |
25.01.2013 |
IDENTIFICATION DETAILS
|
Name : |
BRITE GLASS WORKS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Kailash Chandapur, P O Budhikhamari Mayurbhanj – 757 029, Orissa |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
04.04.1986 |
|
|
|
|
Com. Reg. No.: |
15-001655 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 5.800 millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U26109OR1986PTC001655 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
BBNB00733F |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACB7213K |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Toughened Glass, Insulating Glass and Laminate Glass. |
|
|
|
|
No. of Employees
: |
70 (Approximately) [In Office: 12 and In Factory:58] |
RATING & COMMENTS
|
MIRA’s Rating : |
B (30) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 65000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having moderate track record.
Profitability of the company appears to be low. However, trade relations are
reported as fair. Business is active. Payments are reported to be slow but
correct. The Company can be considered for business dealings with some caution. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
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. Obaid Ahmed |
|
Designation : |
Manager |
|
Contact No.: |
91-9007322119 |
|
Date : |
18.01.2013 |
LOCATIONS
|
Registered Office / Factory : |
Kailash Chandapur, P O Budhikhamari Mayurbhanj – 757 029, |
|
Tel. No.: |
91-33-22289706/22285639 91-6792-211096 |
|
Fax No.: |
91-33-2284146 |
|
E-Mail : |
sushilkumar2006_sharma@rediffmail.com
|
|
Website : |
|
|
Location : |
Owned |
|
|
|
|
Head Office : |
Block D, 2nd Floor, |
|
Tel. No.: |
91-33-22289706/ 22285639 |
|
Fax No.: |
91-33-22284146 |
|
Area : |
250 sq.ft |
|
Location : |
Owned |
DIRECTORS
As on 26.09.2012
|
Name : |
Mr. Jawed Shakil |
|
Designation : |
Managing Director |
|
Address : |
Kailashchandrapur, Mayurbhanj, Orissa – 757 029, India |
|
Date of Birth/Age : |
26.03.1949 |
|
Qualification : |
M.Tech |
|
Date of Appointment : |
04.04.1986 |
|
DIN : |
01214827 |
|
|
|
|
Name : |
Ms. Yasmin Shakil |
|
Designation : |
Director |
|
Address : |
12, Colootola Street, Kolkat – 700 073, West Bengal, India |
|
Date of Birth/Age : |
26.05.1954 |
|
Qualification : |
Graduate |
|
Date of Appointment : |
01.04.1997 |
|
DIN : |
01264482 |
|
|
|
|
Name : |
Mr. Azizul Haque |
|
Designation : |
Director |
|
Address : |
Kailashchandrapur, Mayurbhanj, Orissa – 757 029, India |
|
Date of Birth/Age : |
11.05.1947 |
|
Qualification : |
Under Graduate |
|
Date of Appointment : |
04.04.1986 |
|
|
|
|
Name : |
Mr. Suboohi Aziz |
|
Designation : |
Director |
|
Address : |
64, Colootola Street, Kolkata – 700 073, West Bengal, India |
|
Date of Birth/Age : |
11.07.1950 |
|
Qualification : |
Graduate |
|
Date of Appointment : |
01.04.1997 |
KEY EXECUTIVES
|
Name : |
Mr. Obaid Ahmed |
|
Designation : |
Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 26.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
Jawed Shakil |
|
13950 |
|
Azizul Haque |
|
10450 |
|
Mebashirul Haque |
|
875 |
|
Shazya Aziz |
|
1125 |
|
Noorjahan Shakil |
|
1200 |
|
Chedilala Nalsaria |
|
500 |
|
Gayatri Devi
Khaitan |
|
500 |
|
Murarilal Sharma |
|
500 |
|
Rathin Chakraborty |
|
500 |
|
G P Lohia |
|
500 |
|
Yasmin Shakel |
|
3820 |
|
Fuad Ahmed |
|
1490 |
|
M Rafiq |
|
600 |
|
Mudasur Haque |
|
1560 |
|
Suboohi Aziz |
|
4500 |
|
Fazlur Rahaman |
|
500 |
|
Rakshanda Rahaman |
|
400 |
|
Waqur Ahmed |
|
300 |
|
Nadya Aziz |
|
250 |
|
Q Ahmed |
|
300 |
|
Muzzaffar Anis |
|
700 |
|
S Anis |
|
1250 |
|
G Sohail |
|
750 |
|
Huma Naz |
|
200 |
|
Sammi Naz |
|
200 |
|
Rajaram Singh |
|
600 |
|
Anupam Vinimoy
Private Limited, India |
|
1000 |
|
Aravali Agencies
Private Limited, India |
|
1200 |
|
Axis Commodity
Private Limited, India |
|
1000 |
|
Padmakshi Vyapaar
Private Limited, India |
|
400 |
|
Sukhsagar Private Limited,
India |
|
1000 |
|
Naitik Commercial
Private Limited, India |
|
400 |
|
Daksh Commodity
Private Limited, India |
|
1000 |
|
Trinity Commodity
Private Limited, India |
|
1400 |
|
Dayanidhi
Commercial Limited, India |
|
2000 |
|
Suruchi Dealers Private
Limited, India |
|
500 |
|
Nadeem Anis Shamsi
|
|
580 |
|
Total |
|
58000 |
Equity Share Break up (Percentage of Total Equity)
As on 26.09.2012
|
Category |
Percentage |
|
Bodies corporate |
17.00 |
|
Directors or relatives of Directors |
77.65 |
|
Other top fifty shareholders |
5.35 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Toughened Glass, Insulating Glass and Laminate Glass. |
|
|
|
|
Products : |
·
Insulating Glass ·
Laminated Glass ·
Toughened Glass ·
Tempered Glass ·
Kiln Formed Glasses ·
Heat Resistant Glass ·
Bullet Resistant Glass ·
Architectural Stained Glass ·
Stack Glass ·
Bend Glass ·
Fused Glass ·
Thermal Control Glass ·
Non Reflective Glass ·
All types of Glasses |
|
|
|
|
Exports : |
|
|
Products : |
Finished Goods |
|
Countries : |
|
|
|
|
|
Terms : |
|
|
Selling : |
L/C, Cash and Credit |
|
|
|
|
Purchasing : |
L/C, Cash and Credit |
GENERAL INFORMATION
|
Customers : |
Wholesalers, Retailers and End Users |
||||||||||||
|
|
|
||||||||||||
|
No. of Employees : |
70 (Approximately) [In Office: 12 and In Factory:58] |
||||||||||||
|
|
|
||||||||||||
|
Bankers : |
v IDBI Bank Limited, SME Group, IDBI House, 44, Shakespeare Sarani, Kolkata-700017, West Bengal, India Tel. No.: 91-33-22909365 / 22906818 v
Bank
of India v
Corporation
Bank v State Bank of India |
||||||||||||
|
|
|
||||||||||||
|
Facilities : |
|
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
|
|
Auditors : |
|
|
|
Name : |
Sushil Sharma and company Chartered Accountants |
|
|
Address : |
16, |
|
|
PAN : |
AIQPS6905E |
|
|
Name : |
Chartered Accountants |
|
CAPITAL STRUCTURE
As on 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
90000 |
Equity |
Rs 100/- each |
Rs. 9.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
58000 |
Equity |
Rs 100/- each |
Rs. 5.800
Millions |
|
|
|
|
|
|
Name of
Shareholders |
31.03.2012 |
|
|
|
Name of Shares held |
Percentage |
|
Jawed Shakil |
13950 |
24.05 |
|
Azizul Haque |
10450 |
18.02 |
|
Suboohi Aziz |
4500 |
7.76 |
|
Yashmin Shakil |
3820 |
6.59 |
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 |
5.800 |
5.800 |
5.800 |
|
|
2] Share Application Money |
0.000 |
0.500 |
0.500 |
|
|
3] Reserves & Surplus |
10.655 |
10.229 |
2.643 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
16.455 |
16.529 |
8.943 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
20.474 |
24.301 |
26.015 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
20.474 |
24.301 |
26.015 |
|
|
|
|
|
|
|
|
DEFERRED TAX LIABILITIES |
0.379 |
0.395 |
0.408 |
|
|
|
|
|
|
|
|
TOTAL |
37.308 |
41.225 |
42.566 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
16.153 |
18.109 |
20.493 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
14.365 |
16.122 |
12.830 |
|
|
Sundry Debtors |
11.464 |
11.657 |
10.036 |
|
|
Cash & Bank Balances |
5.202 |
4.807 |
4.416 |
|
|
Other Current Assets |
0.000 |
0.000 |
0.000 |
|
|
Loans & Advances |
4.411 |
4.334 |
4.586 |
|
Total
Current Assets |
35.442
|
36.920
|
31.868
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
13.231 |
12.629 |
5.322 |
|
|
Other Current Liabilities |
0.693 |
0.702 |
3.908 |
|
|
Provisions |
0.363 |
0.473 |
0.565 |
|
Total
Current Liabilities |
14.287
|
13.804
|
9.795
|
|
|
Net Current Assets |
21.155
|
23.116
|
22.073
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
37.308 |
41.225 |
42.566 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
SALES |
|
|
|
|
|
Income |
50.825 |
45.339 |
33.982 |
|
|
Other Income |
0.953 |
0.394 |
0.417 |
|
|
TOTAL |
51.778 |
45.733 |
34.399 |
|
|
|
|
|
|
|
Less |
EXPENSES |
48.511 |
42.342 |
31.061 |
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
3.267 |
3.391 |
3.338 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
2.543 |
2.915 |
3.075 |
|
|
|
|
|
|
|
|
PROFIT / [LOSS]
BEFORE TAX |
0.724 |
0.476 |
0.263 |
|
|
|
|
|
|
|
Less |
TAX |
0.298 |
0.090 |
0.117 |
|
|
|
|
|
|
|
|
PROFIT / [LOSS]
AFTER TAX |
0.426 |
0.386 |
0.146 |
|
|
|
|
|
|
|
|
Earnings/[Loss]
Per Share (Rs.) |
7.34 |
6.65 |
2.51 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
0.82
|
0.84
|
0.42
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
1.42
|
1.05
|
0.77
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.40
|
0.86
|
0.50
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.04
|
0.05
|
0.03
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
2.11
|
2.31
|
4.00
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.48
|
2.67
|
3.25
|
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 |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
No |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
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] |
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 |
FINANCIAL RESULTS:
Against the Profit
of Rs. 0.386 million in the Previous year the Current year Profit is Rs. 0.426
million. It is expected that the Company will achieve substantially better results
during the year 2012-2013
CONTINGENT
LIABILITIES (As on 31.03.2012): (Rs. in
millions)
Contingent
Liabilities not provided for in respect of
Bank Guarantee
given by bank on behalf of the company Rs 1.000 million
Letter of credit issued by the bank on behalf of the Company Rs 1.396
millions
FIXED ASSETS:
·
Land and Building
Development
·
Building
·
Plant and Machinery
·
Furniture and Fixture
·
Computer
·
Electric Installation
·
R.C.C Tank
·
DUG Well
·
Tube Well
·
Generator
·
Die
·
Fax Machine
·
EPBX Machine
·
Other Assets
·
Scooter
·
Santro Euro – II
·
Motor Car
·
Delivery Van
·
Maruti Zen
·
Hondar Euro
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 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.53.85 |
|
|
1 |
Rs.85.26 |
|
Euro |
1 |
Rs.77.72 |
INFORMATION DETAILS
|
Information
Gathered by : |
PLK |
|
|
|
|
Report Prepared
by : |
MRI |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
30 |
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.