|
Report Date : |
08.07.2013 |
IDENTIFICATION DETAILS
|
Name : |
PCK COTTON PRIVATE LIMITED (w.e.f. 20.12.2004) |
|
|
|
|
Formerly Known
As : |
PEECEEKAY COTTON GINNING AND PRESSING FACTORY PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
S-21, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
04.08.1999 |
|
|
|
|
Com. Reg. No.: |
11-121142 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.4.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U01405MH1999PTC121142 |
|
|
|
|
PAN No.: [Permanent Account No.] |
AACCP4233B |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer, Trader and Exporter of Raw Cotton. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (35) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 91000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having a moderate track record. The financial position of the company is moderate due to low profit margin
and huge external borrowings. However, the company achieved better growth in its turnover during
2012. 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) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long Term Rating: B+ |
|
Rating Explanation |
High risk of default |
|
Date |
27.05.2013 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short Term Rating: A4 |
|
Rating Explanation |
Minimal degree of safety and very high
credit risk. |
|
Date |
27.05.2013 |
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-21, Cotton Exchange Building, Cotton Green, Mumbai – 400033,
Maharashtra, India |
|
Tel. No.: |
91-22-23780503 |
|
Fax No.: |
91-22-23721007 |
|
E-Mail : |
DIRECTORS
(AS ON 29.09.2012)
|
Name : |
Mr. Chetan Kantilal Mehta |
|
Designation : |
Director |
|
Address : |
B/3, Yoga Co-operative Society, 12th Gulmohar X Road, J.V.P.D.
Scheme, Plot No.19, Andheri (West), Mumbai – 400049, Maharashtra, India |
|
Date of Birth/Age : |
17.04.1958 |
|
Date of Appointment : |
04.08.1999 |
|
DIN No.: |
00975014 |
|
|
|
|
Name : |
Mrs. Geeta Chetan Mehta |
|
Designation : |
Director |
|
Address : |
B/3, Yoga Co-operative Society, 12th Gulmohar X Road,
J.V.P.D. Scheme, Plot No.19, Andheri (West), Mumbai – 400049, Maharashtra,
India |
|
Date of Birth/Age : |
30.11.1957 |
|
Date of Appointment : |
04.08.1999 |
|
DIN No.: |
01106410 |
|
|
|
|
Name : |
Mr. Paras Chetan Mehta |
|
Designation : |
Director |
|
Address : |
B/3, Yoga Co-operative Society, 12th Gulmohar X Road,
J.V.P.D. Scheme, Plot No.19, Andheri (West), Mumbai – 400049, Maharashtra,
India |
|
Date of Birth/Age : |
19.02.1984 |
|
Date of Appointment : |
19.12.2007 |
|
DIN No.: |
01915674 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
(AS ON 29.09.2012)
|
Names of Shareholders |
|
No. of Shares |
|
|
|
|
|
Chetan Kantilal Mehta |
|
290900 |
|
Geeta Chetan Mehta |
|
109100 |
|
|
|
|
|
Total |
|
400000 |
(AS ON 30.09.2012)
Equity Shares Break – up
|
Category |
|
Percentage |
|
|
|
|
|
Directors or relatives of directors |
|
100.00 |
|
|
|
|
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer, Trader and Exporter of Raw
Cotton. |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||
|
Bankers : |
· Oriental Bank of Commerce Fort Branch, Jash Chambers, Sir P M Road, Fort, Mumbai – 400001, Maharashtra, India · Bank of Maharashtra · HDFC Bank Limited · State Bank of India · The Jalgaon Peoples Co-operative Bank Limited |
||||||||||||||||||||||||||||||
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|
||||||||||||||||||||||||||||||
|
Facilities : |
|
||||||||||||||||||||||||||||||
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
J. C. Khokhani and Company Chartered Accountants |
|
Address : |
204, Jayram Apartment, Haridas Nagar, S. J. Mahtre Road, Borivali
(West), Mumbai – 400092, Maharashtra, India |
|
Tel No.: |
91-22-28089166/ 28065544 |
|
Mobile No.: |
91-9820909963 |
|
PAN No.: |
AABPK3655Q |
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 |
|
|
|
|
|
|
400000 |
Equity Shares |
Rs.10/- each |
Rs.4.000 Millions |
|
|
|
|
|
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 |
|
4.000 |
4.000 |
|
(b) Reserves & Surplus |
|
18.672 |
12.592 |
|
(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) |
|
22.672 |
16.592 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
|
6.557 |
9.461 |
|
(b) Deferred tax liabilities (Net) |
|
0.183 |
1.926 |
|
(c) Other long
term liabilities |
|
0.000 |
0.000 |
|
(d) long-term
provisions |
|
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
|
6.740 |
11.387 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
|
50.574 |
87.057 |
|
(b)
Trade payables |
|
8.719 |
3.962 |
|
(c)
Other current liabilities |
|
10.524 |
11.583 |
|
(d) Short-term
provisions |
|
7.473 |
5.223 |
|
Total Current
Liabilities (4) |
|
77.290 |
107.825 |
|
|
|
|
|
|
TOTAL |
|
106.702 |
135.804 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
|
23.517 |
26.997 |
|
(ii)
Intangible Assets |
|
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
|
0.000 |
0.000 |
|
(iv)
Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
0.250 |
0.250 |
|
(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 |
|
23.767 |
27.247 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
|
0.000 |
0.000 |
|
(b)
Inventories |
|
68.481 |
100.978 |
|
(c)
Trade receivables |
|
3.009 |
0.323 |
|
(d) Cash
and cash equivalents |
|
1.813 |
1.367 |
|
(e)
Short-term loans and advances |
|
9.616 |
5.889 |
|
(f)
Other current assets |
|
0.016 |
0.000 |
|
Total
Current Assets |
|
82.935 |
108.557 |
|
|
|
|
|
|
TOTAL |
|
106.702 |
135.804 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
4.000 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
5.389 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
9.389 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
58.214 |
|
|
2] Unsecured Loans |
|
|
8.210 |
|
|
TOTAL BORROWING |
|
|
66.424 |
|
|
DEFERRED TAX LIABILITIES |
|
|
1.039 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
76.852 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
18.186 |
|
|
Capital work-in-progress |
|
|
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.000 |
|
|
DEFERREX TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
19.155 |
|
|
Sundry Debtors |
|
|
45.370 |
|
|
Cash & Bank Balances |
|
|
6.179 |
|
|
Other Current Assets |
|
|
2.145 |
|
|
Loans & Advances |
|
|
8.295 |
|
Total
Current Assets |
|
|
81.144 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditor |
|
|
18.408 |
|
|
Other Current Liabilities |
|
|
0.616 |
|
|
Provisions |
|
|
3.454 |
|
Total
Current Liabilities |
|
|
22.478 |
|
|
Net Current Assets |
|
|
58.666 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
76.852 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from Operations |
752.126 |
382.745 |
445.814 |
|
|
|
Other Income |
9.722 |
7.709 |
0.244 |
|
|
|
TOTAL |
761.848 |
390.454 |
446.058 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
751.955 |
378.129 |
441.640 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
9.893 |
12.325 |
4.418 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
3.400 |
2.466 |
2.224 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
6.493 |
9.859 |
2.194 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
0.413 |
2.657 |
0.497 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
6.080 |
7.202 |
1.697 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
547.157 |
88.813 |
NA |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
15.20 |
18.01 |
-- |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
0.80
|
1.84 |
0.38 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
0.86
|
2.58 |
0.49 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
6.10
|
7.27 |
2.21 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.29
|
0.59 |
0.23 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
2.52
|
5.82 |
7.07 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.07
|
1.01 |
3.61 |
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 |
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 |
UNSECURED LOANS
|
Particulars |
31.03.2012 |
31.03.2011 |
|
|
(Rs. In Millions) |
|
|
Short Term
Borrowings |
|
|
|
Loans repayable on demand - Loans from related Parties |
12.845 |
11.880 |
|
|
|
|
|
Total |
12.845 |
11.880 |
OPERATIONS
During
the year, the Company has achieved a turnover of Rs.752.126 Millions as compared
to previous year's turnover of Rs.382.745 Millions However due to increase in
cost of operations the profit earned is marginaiiy low as compared to the last
year's profit.
The management
of the company is putting its best efforts to enhance the revenue generation
capacity by reducing its overhead expenses on operation of the Company,
employee and working capital of the Company.
FORM 8
|
This form is for |
Modification of
charge |
|
Charge
identification number of the modified |
80001869 |
|
Corporate
identity number of the company |
U01405MH1999PTC121142 |
|
Name of the
company |
PCK COTTON
PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
S-21 Cotton
Exchange Building, Cotton Green, Mumbai, Maharashtra, India |
|
Type of charge |
Immovable property |
|
Particular of
charge holder |
Oriental Bank of Commerce Fort Branch, Jash
Chambers, Sir P. M Road, Fort, Mumbai – 400001, Maharashtra, India |
|
Nature of
description of the instrument creating or modifying the charge |
No Instrument -
Extension of Deposit of Title Deeds |
|
Date of
instrument Creating the charge |
03/11/2010 |
|
Amount secured by
the charge |
Rs.105.620 Millions |
|
Brief particulars
of the principal terms and conditions and extent and operation of the charge |
Rate of Interest Interest rate and
Penal interest rate as agreed between the borrower company and the bank from
time to time. Terms of
Repayment Repayment, as
agreed between the borrower company and the bank from time to time Margin Margin Rate, as agreed
between the borrower company and the bank from time to time Extent and
Operation of the charge At the request of
the borrower company, the bank has enhanced overall banking limits upto
Rs.105.620 Millions against Equitable Mortgage on factory land and building
i. e Gat No. 24, Ambevadagaon, Pachora, District Jalgaon, in the name of PCK
Cotton Private Limited, having realizable value of Rs. 37.020 Millions. The Charge stands
modified upto Rs.105.620 Millions |
|
Short particulars
of the property charged |
Equitable
Mortgage on factory land and building i. e Gat No. 24, Ambevadagaon, Pachora,
District Jalgaon, in the name of PCK Cotton Private Limited, having
realizable value of Rs. 37.020 Millions |
|
Particulars of
the present modification |
At the request of
the borrower company, the bank has enhanced overall banking limits upto
Rs.105.620 Millions against Equitable Mortgage on factory land and building
i. e Gat No. 24, Ambevadagaon, Pachora, District Jalgaon, in the name of PCK
Cotton Private Limited, having realizable value of Rs. 37.020 Millions. The Charge stands
modified upto Rs.105.620 Millions. |
FIXED ASSETS:
· Land
· Building
· Plant and Machinery
· Fire Fighting Systems
· Electrical Equipments
· Office Equipments
· Tractor
· Computer
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 : |
NIT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
4 |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
35 |
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.