|
Report Date : |
04.07.2013 |
IDENTIFICATION DETAILS
|
Name : |
PANORAMIC HOLIDAYS LIMITED |
|
|
|
|
Formerly Known
As : |
AMBITIOUS INFRASTRUCTURE PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Aman Chambers, 4th Floor, Opposite New Passport Office, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
12.12.2006 |
|
|
|
|
Com. Reg. No.: |
11-166115 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.0.500
Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U45201MH2006PLC166115 |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject is engaged with |
|
|
|
|
No. of Employees
: |
40 [Approximately] |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca (11) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having moderate track record. There
appears a huge accumulated loss due to which its networth has been completely
eroded. External borrowings are increasing over years. Which affected the liquidity
position of the company. However, business is active. Payment terms are slow. The company can be considered for business dealings on a safe and
secured 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.
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. Syed Sheikh |
|
Designation : |
Accounts Executive |
|
Contact No.: |
91-22-66171900 |
|
Date : |
04.07.2013 |
LOCATIONS
|
Registered Office : |
Aman Chambers, 4th Floor, Opposite New Passport Office,
Veer Savarkar Road, Prabhadevi, Mumbai-400025, Maharashtra, India |
|
Tel. No.: |
91-22-66171900 |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
DIRECTORS
AS ON 27.09.2012
|
Name : |
Ms. Usha Arun Tari |
|
Designation : |
Director |
|
Address : |
A-3, Prakash Nagar, T.H. Kataria Marg, Mogul Lane, Mahim,
Mumbai-400016, Maharashtra, India |
|
Date of Birth/Age : |
15.11.1945 |
|
Date of Appointment : |
24.01.2007 |
|
Din No.: |
00178078 |
|
|
|
|
Name : |
Ms. Viidyaa Sudhir Moravekar |
|
Designation : |
Director |
|
Address : |
9/10, Utkarsh Co-operative Housing Society, Plot No. 1035, J.A. Raul
Marg, Botadkar Wadi, Prabhadevi, Mumbai-400025, Maharashtra, India |
|
Date of Birth/Age : |
20.08.1957 |
|
Date of Appointment : |
24.01.2007 |
|
Din No.: |
00177736 |
|
|
|
|
Name : |
Ms. Shobha Ratnakar Barde |
|
Designation : |
Director |
|
Address : |
A 6/19-50, Vima Vijay, LIC Colony, Borivali (West), Mumbai-400103,
Maharashtra, India |
|
Date of Birth/Age : |
04.09.1949 |
|
Date of Appointment : |
24.01.2007 |
|
Din No.: |
00177938 |
|
|
|
|
Name : |
Mr. Babu Subrahmanyam Iyer |
|
Designation : |
Director |
|
Address : |
Building Flat No. 15/44, Vijay Nagari, Annex Waghbil, Ghodbunder Road,
Kasar Vadavali, P.O. Thane (West)-400601, Maharashtra, India |
|
Date of Birth/Age : |
07.04.1951 |
|
Date of Appointment : |
06.02.2012 |
|
Din No.: |
05193585 |
KEY EXECUTIVES
|
Name : |
Mr. Syed Sheikh |
|
Designation : |
Accounts Executive |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 27.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
Panoramic Universal Limited, India |
|
49994 |
|
Viidyaa Sudhir Moravekar |
|
1 |
|
Usha Arun Tari |
|
1 |
|
Shobha Ratnakar Barde |
|
1 |
|
Vilas Mitbawkar |
|
1 |
|
Hemalata Sawant |
|
1 |
|
Arun Bhagwan Tari |
|
1 |
|
|
|
|
|
TOTAL
|
|
50000 |
AS ON 27.09.2012
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Bodies
corporate |
|
99.99 |
|
Directors
or relatives of directors |
|
0.01 |
|
TOTAL |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged with Tours and Travel Activity. |
|
|
|
|
Terms : |
|
|
Selling : |
Cash |
|
|
|
|
Purchasing : |
Cash |
GENERAL INFORMATION
|
Customers : |
Others [Local People] |
|
|
|
|
No. of Employees : |
40 [Approximately] |
|
|
|
|
Bankers : |
HDFC Bank, Nariman Point Branch, Mumbai, Maharashtra, India |
|
|
|
|
Facilities : |
-- |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
H. H. Topiwala
and Company Chartered Accountant |
|
Address : |
Flat No. 501/ C
- 2, Sarkar Residency, Opposite Anjirwadi, Mazgaon, Mumbai – 400010,
Maharashtra, India |
|
PAN No: |
AAAPT5207G |
|
|
|
|
Holding Company : |
Panoramic Universal Limited CIN No.:- L67190MH1992PLC066856 |
|
|
|
|
Associates : |
Pancard Clubs Limited CIN No.:- U91900MH1997PLC105363 Panoramic Tour And Travels Limited CIN No.:- U63040MH1997PLC108510 Seaview Retreats Limited CIN No.:- U55101KL2004PLC016945 |
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 |
|
50000 |
Equity Shares |
Rs.10/- each
|
Rs.0.500
Million |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2012 |
31.03.2011 |
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
0.500 |
0.500 |
|
(b) Reserves & Surplus |
|
(87.628) |
(37.067) |
|
(c) Money received against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money
pending allotment |
|
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
|
(87.128) |
(36.567) |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
|
0.000 |
0.000 |
|
(c) Other long
term liabilities |
|
0.000 |
0.000 |
|
(d) long-term
provisions |
|
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
|
0.000 |
0.000 |
|
|
|
|
|
|
(4) Current
Liabilities |
|
|
|
|
(a)
Short term borrowings |
|
59.665 |
24.255 |
|
(b)
Trade payables |
|
0.000 |
0.000 |
|
(c)
Other current liabilities |
|
169.028 |
49.620 |
|
(d) Short-term
provisions |
|
2.964 |
0.014 |
|
Total Current
Liabilities (4) |
|
231.657 |
73.889 |
|
|
|
|
|
|
TOTAL |
|
144.529 |
37.322 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
|
19.910 |
3.583 |
|
(ii) Intangible
Assets |
|
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
0.000 |
0.000 |
|
(e) Other
Non-current assets |
|
0.000 |
0.000 |
|
Total Non-Current
Assets |
|
19.910 |
3.583 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
|
0.300 |
0.300 |
|
(b)
Inventories |
|
0.000 |
0.000 |
|
(c)
Trade receivables |
|
110.720 |
29.575 |
|
(d) Cash
and cash equivalents |
|
1.585 |
1.802 |
|
(e)
Short-term loans and advances |
|
0.000 |
0.000 |
|
(f)
Other current assets |
|
12.014 |
2.062 |
|
Total
Current Assets |
|
124.619 |
33.739 |
|
|
|
|
|
|
TOTAL |
|
144.529 |
37.322 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
0.500 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
0.000 |
|
|
4] (Accumulated Losses) |
|
|
(17.171) |
|
|
NETWORTH |
|
|
(16.671) |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
0.000 |
|
|
2] Unsecured Loans |
|
|
11.242 |
|
|
TOTAL BORROWING |
|
|
11.242 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
(5.429) |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
1.114 |
|
|
Capital work-in-progress |
|
|
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.300 |
|
|
DEFERREX TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
0.000 |
|
|
Sundry Debtors |
|
|
3.462 |
|
|
Cash & Bank Balances |
|
|
0.170 |
|
|
Other Current Assets |
|
|
0.000 |
|
|
Loans & Advances |
|
|
0.027 |
|
Total
Current Assets |
|
|
3.659 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
1.267 |
|
|
Other Current Liabilities |
|
|
9.281 |
|
|
Provisions |
|
|
0.000 |
|
Total
Current Liabilities |
|
|
10.548 |
|
|
Net Current Assets |
|
|
(6.889) |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.046 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
(5.429) |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
11.311 |
4.674 |
1.586 |
|
|
|
Other Income |
0.831 |
0.000 |
0.204 |
|
|
|
TOTAL (A) |
12.142 |
4.674 |
1.790 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Employee benefit expense |
20.494 |
10.955 |
8.633 |
|
|
|
Other expenses |
40.036 |
13.169 |
6.830 |
|
|
|
TOTAL (B) |
60.530 |
24.124 |
15.463 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
(48.388) |
(19.450) |
(13.673) |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
0.630 |
0.095 |
0.038 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
(49.018) |
(19.545) |
(13.711) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
1.542 |
0.352 |
0.171 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
(50.560) |
(19.897) |
(13.882) |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
(50.560) |
(19.897) |
(13.882) |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
(37.068) |
(17.171) |
(3.289) |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
(87.628) |
(37.068) |
(17.171) |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
(1011.22) |
(397.94) |
(277.65) |
|
|
Particulars |
|
|
31.03.2013 |
|
Sales Turnover [Approximately] |
|
|
14.000 |
Expected Sales (2013-14 ) : More than Rs.20.000 Millions.
The above information has been parted by Mr. Syed Sheikh.
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
(416.41)
|
(425.70) |
(775.53) |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
(447.00)
|
(425.70) |
(875.28) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(34.98)
|
(53.31) |
(290.84) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.58
|
0.54 |
0.83 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
(0.68)
|
(0.66) |
(0.67) |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.54
|
0.46 |
0.35 |
LOCAL AGENCY FURTHER INFORMATION
SUNDRY CREDITORS
DETAILS
(Rs.
In Millions)
|
Particulars |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
Sundry Creditors
|
|
|
|
|
Creditors due others |
0.000 |
0.000 |
1.267 |
|
TOTAL |
0.000 |
0.000 |
1.267 |
|
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 |
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 |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
Yes |
|
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 |
No |
|
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 |
No |
|
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 |
No |
NOTE: The registered office of the company has been shifted from Building No. A-8, Room No. 5, 2nd Floor, Sector 24, Nerul (West), Navi Mumbai-400706, Maharashtra, India to the present address w.e.f.15.02.2007.
|
Unsecured Loan |
31.03.2012 |
31.03.2011 |
|
Short Term
Borrowings |
|
|
|
Loans and advances from related parties |
59.665 |
24.255 |
|
|
|
|
|
TOTAL |
59.665 |
24.255 |
OPERATIONS /
PERFORMANCE
The Company has
made a mark for itself in providing of room nights under the brand Magic
Holidays offering affordable holidays to its customers not only across India, but
also overseas in countries like USA and New Zealand. The Customers availing
Magic Holidays Scheme are also provided holiday exchange facility which
provides them access to about 4500 properties across the globe which are
affiliated to RCI.
With the launch of
Magic Holidays, the company has achieved a high reputation and goodwill in the
market. During the year, there was considerable interest in the product both
from leading Indian corporate houses and multi-national companies. Several new
corporate clients were added during the year.
Magic Holidays has
been expanding rapidly across the country. It has started operations in
Ahmedabad, Vadodara, Surat, Delhi, Bangalore and Hyderabad apart from its well
established presence in Mumbai and Pune.
During the year
the Company has earned total revenues of Rs. 12.142 Millions as compared to Rs.
4.674 Millions in the previous year. Total expenditure incurred stood at
Rs.62.703 Millions as against Rs. 24.571 Millions resulting in a net loss of
Rs.50.561 Millions (previous year Rs. 19.897 Millions).
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 tansactions 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.60.10 |
|
|
1 |
Rs.91.07 |
|
Euro |
1 |
Rs.77.95 |
INFORMATION DETAILS
|
Information Gathered
by : |
JML |
|
|
|
|
Report Prepared
by : |
TPT / DPT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
1 |
|
PAID-UP CAPITAL |
1~10 |
1 |
|
OPERATING SCALE |
1~10 |
2 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
2 |
|
--PROFITABILIRY |
1~10 |
1 |
|
--LIQUIDITY |
1~10 |
1 |
|
--LEVERAGE |
1~10 |
1 |
|
--RESERVES |
1~10 |
1 |
|
--CREDIT LINES |
1~10 |
1 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--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 |
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
11 |
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.