MIRA INFORM REPORT
|
Report Date : |
06.07.2013 |
IDENTIFICATION DETAILS
|
Name : |
MEHO HCP AIR SYSTEMS PRIVATE LIMITED |
|
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|
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Registered
Office : |
108, |
|
|
|
|
Country : |
India |
|
|
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|
Financials (as
on) : |
31.03.2012 |
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|
|
|
Date of
Incorporation : |
25.01.2002 |
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|
|
|
Com. Reg. No.: |
21-094154 |
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|
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Capital
Investment / Paid-up Capital : |
Rs. 2.000 millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U29191WB2002PTC094154 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
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|
|
|
Line of Business
: |
Dealer and Distributor of Carrier Air System, Eurobatex Range of
Insulation, and Manufacturer of Quality Aluminium Air Grilles. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (29) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 28000 |
|
|
|
|
Status : |
Moderate |
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|
|
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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|
Comments : |
Subject is an established company having moderate track record. There appears a significant increase in the sales turnover as well as
net profitability during 2012 but the profit margin of the company is low.
Liquidity position is stretched. External borrowings seem to be tremendously
increasing over previous year which may act as a threat to the liquidity of
the company. However, trade relations are fair. Business is active. Payment terms
are 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 – March 31st, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
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 / Factory : |
108, |
|
Tel. No.: |
91-33-24648960 / 8961 / 6081 |
|
Fax No.: |
91-33-24649962 |
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E-Mail : |
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Head Office : |
P-595, Purna Das Road, Kolkata – 700029, West Bengal, India |
DIRECTORS
As on 29.09.2012
|
Name : |
Mr. Arvind Kumar Mehrotra |
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|
Designation : |
Director |
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|
Address : |
Flat No. 28A, Tower 1, South City Projects, 375, Prince Anwar Shah
Road, Kolkata – 700068, West Bengal, India |
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|
Date of Birth/Age : |
02.02.1960 |
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Date of Appointment : |
25.01.2002 |
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DIN No. : |
00691206 |
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Other Directorship :
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Name : |
Mr. Vishal Kapur |
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|
Designation : |
Director |
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|
Address : |
13 D, Ridge Towers, Hiland Park, 1925 Chak Garia, Kolkata – 700094, West
Bengal, India |
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|
Date of Birth/Age : |
26.02.1970 |
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Date of Appointment : |
25.01.2002 |
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DIN No. : |
00911276 |
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Other Directorship :
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Name : |
Mr. Raja Banerjee |
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|
Designation : |
Director |
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|
Address : |
14A, Salimpur Bye Lane, 1st BF Floor, Dhakuria, Kolkata –
700031, West Bengal, India |
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|
Date of Birth/Age : |
04.01.1972 |
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Date of Appointment : |
16.07.2010 |
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DIN No. : |
03055202 |
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Name : |
Jayanta Kumar Das |
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Designation : |
Director |
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|
Address : |
Flat No. 3/2, Tower – 5, Ruchi RA Residency, 369, Purbachal, Kalitala
Road, EM Bypass, Kolkata – 700078, West Bengal, India |
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|
Date of Birth/Age : |
21.01.1968 |
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Date of Appointment : |
16.07.2010 |
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DIN No. : |
03055194 |
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MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 29.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
Arvind Kumar Mehrotra |
|
66000 |
|
Vishal Kapur |
|
66000 |
|
Raja Banerjee |
|
44000 |
|
Jayanta Kumar Das |
|
44000 |
|
Total |
|
220000 |
As on 29.09.2012
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Dealer and Distributor of Carrier Air System, Eurobatex Range of
Insulation, and Manufacturer of Quality Aluminium Air Grilles. |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
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Bankers : |
· Corporation Bank, Rash Behari Avenue Branch, Kolkata, West Bengal, India · Standard Chartered Bank · Barclays Bank · HDFC Bank Limited · ICICI Bank Limited |
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Facilities : |
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Banking
Relations : |
-- |
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|
Financial Institutions : |
Ø Reliance Capital Ø Tata Capital Financial Service Limited Ø Religare Finvest Limited |
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Auditors : |
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|
Name : |
B.M. Chatrath and Company Chartered Accountants |
|
Address : |
Centre Point 4th Floor, Room No-440, 21, Old Court House Street, Kolkata –
700001, West Bengal, India |
|
Tel. No.: |
91-33-22484575/ 4667/ 6810/ 6798/ 22101385 |
|
Fax No.: |
91-33-22489934 |
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E-Mail : |
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Income-tax
PAN of auditor or auditor's firm : |
AACFB7576N |
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|
Associates : |
· Hitesh Air Systems · Cood Foods · Yo Foodies |
CAPITAL STRUCTURE
As on 29.09.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
400000 |
Equity Shares |
Rs.10/- each |
Rs. 4.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
220000 |
Equity Shares |
Rs.10/- each |
Rs. 2.200 Millions |
|
|
|
|
|
As on 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
400000 |
Equity Shares |
Rs.10/- each |
Rs. 4.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
200000 |
Equity Shares |
Rs.10/- each |
Rs. 2.000 Millions |
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|
|
|
|
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 |
|
2.000 |
1.200 |
|
(b) Reserves & Surplus |
|
5.072 |
5.543 |
|
(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) |
|
7.072 |
6.743 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
10.775 |
5.695 |
|
(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) |
|
10.775 |
5.695 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
|
9.295 |
4.228 |
|
(b) Trade
payables |
|
106.256 |
60.580 |
|
(c) Other
current liabilities |
|
160.959 |
119.152 |
|
(d) Short-term
provisions |
|
4.295 |
2.408 |
|
Total Current
Liabilities (4) |
|
280.805 |
186.368 |
|
|
|
|
|
|
TOTAL |
|
298.652 |
198.806 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
|
5.562 |
2.541 |
|
(ii)
Intangible Assets |
|
0.105 |
0.006 |
|
(iii)
Capital work-in-progress |
|
0.000 |
0.000 |
|
(iv)
Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
|
0.073 |
0.067 |
|
(d) Long-term Loan and Advances |
|
0.522 |
0.282 |
|
(e) Other
Non-current assets |
|
0.000 |
0.000 |
|
Total Non-Current
Assets |
|
6.262 |
2.896 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
|
0.000 |
0.000 |
|
(b)
Inventories |
|
177.249 |
125.618 |
|
(c) Trade
receivables |
|
78.481 |
34.614 |
|
(d) Cash
and cash equivalents |
|
10.001 |
6.299 |
|
(e)
Short-term loans and advances |
|
14.938 |
19.840 |
|
(f) Other
current assets |
|
11.721 |
9.539 |
|
Total
Current Assets |
|
292.390 |
195.910 |
|
|
|
|
|
|
TOTAL |
|
298.652 |
198.806 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
0.750 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
4.116 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
4.866 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
3.088 |
|
|
2] Unsecured Loans |
|
|
7.155 |
|
|
TOTAL BORROWING |
|
|
10.243 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
15.109 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
2.882 |
|
|
Capital work-in-progress |
|
|
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.000 |
|
|
DEFERRED TAX ASSETS |
|
|
0.028 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
105.250 |
|
|
Sundry Debtors |
|
|
37.086 |
|
|
Cash & Bank Balances |
|
|
0.246 |
|
|
Other Current Assets |
|
|
8.370 |
|
|
Loans & Advances |
|
|
21.599 |
|
Total
Current Assets |
|
|
172.551 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
|
|
|
Other Current Liabilities |
|
|
156.723 |
|
|
Provisions |
|
|
3.634 |
|
Total
Current Liabilities |
|
|
160.357 |
|
|
Net Current Assets |
|
|
12.194 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.005 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
15.109 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from operations |
326.033 |
252.623 |
232.268 |
|
|
|
Other Income |
0.944 |
1.798 |
3.830 |
|
|
|
TOTAL (A) |
326.977 |
254.421 |
236.098 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Purchase of stock in trade |
291.337 |
203.806 |
|
|
|
|
Changes in inventories |
(51.631) |
(20.368) |
|
|
|
|
Employee benefit Expenses |
27.120 |
22.835 |
|
|
|
|
Other Expenses |
53.078 |
42.871 |
|
|
|
|
TOTAL (B) |
319.904 |
249.144 |
232.334 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
7.073 |
5.277 |
|
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
1.674 |
1.236 |
|
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
5.399 |
4.041 |
3.764 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
0.992 |
0.765 |
0.721 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
4.407 |
3.276 |
3.043 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
1.729 |
1.145 |
1.122 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
2.678 |
2.131 |
1.921 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
21.14 |
25.26 |
26.80 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
0.82
|
0.84 |
0.81 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
1.35
|
1.30 |
1.31 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.48
|
1.65 |
1.73 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.62
|
0.49 |
0.63 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
2.84
|
1.47 |
2.11 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.04
|
1.05 |
1.08 |
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 |
No |
|
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 |
Yes |
|
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 |
OPERATIONS
During the year the Company recorded a turnover of Rs.326.900 millions as against Rs.254.400 millions in the previous year . After providing Rs.0.991 millions for depreciation there was a net profit of 4.406 millions as against Rs.3.276 millions in the previous year.After appropriations towards taxes and dividends and transferring Rs.0.750 million to General Reserve and a surplus of Rs. 1.830 millions was recorded for the year. During the year the Company increased its Authorised Share Capital to Rs.4.000 millions and the paid up Capital to Rs.2.000 millions.
UNSECURED LOANS
|
Unsecured Loans |
31.03.2012 |
31.03.2011 |
|
|
(Rs. In Millions) |
|
|
LONG TERM
BORROWINGS |
|
|
|
Barclays
Bank (000003039338) |
1.165 |
1.671 |
|
Standard
Chartered Bank |
1.631 |
0.000 |
|
Unsecured Loans from Finance Companies |
|
|
|
Reliance
Capital |
0.000 |
1.052 |
|
Tata
Capital Financial Service Limited (3239014) |
3.203 |
2.330 |
|
Religare
Finvest Limited (XSMELOL00035241) |
3.138 |
0.000 |
|
Unsecured Loans from Related Parties |
|
|
|
Arvind
Kumar Mehrotra |
0.271 |
0.271 |
|
Vishal
Kaput |
0.004 |
0.004 |
|
SHORT TERM BORROWINGS |
|
|
|
Standard
Chartered Bank |
0.000 |
0.092 |
|
Unsecured
Loans from Finance Company Reliance Capital (RLBLKOL000091705) |
0.156 |
0.000 |
|
Unsecured
Loans from Related Parties Hi-Tech Air Systems |
0.000 |
1.618 |
|
Total |
9.568 |
7.038 |
FIXED ASSETS:
Ø Computers
Ø Air Conditioners
Ø Furniture and
Fixture
Ø Office Equipments
Ø Machinery
Ø Vehicles
Ø Computer Software
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.60.34 |
|
|
1 |
Rs.90.79 |
|
Euro |
1 |
Rs.77.81 |
INFORMATION DETAILS
|
Report Prepared
by : |
BVA / MRI |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--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 |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
29 |
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 |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.