MIRA
INFORM REPORT
|
Report Date : |
12.07.2013 |
IDENTIFICATION DETAILS
|
Name : |
SHREE SATYA MINERALS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
9 B, Shree Krupanand Vihar CHS, 19th Road, Khar (West),
Mumbai – 400 052, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
27.02.1996 |
|
|
|
|
Com. Reg. No.: |
11-097694 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.5.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
u51909mh1996ptc097694 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
mums37187D |
|
|
|
|
PAN No.: [Permanent Account No.] |
aabcs4070 |
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|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Resin Coated Sand. |
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|
|
|
No. of Employees
: |
55 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (51) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 250000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Regular |
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|
|
|
Litigation : |
Clear |
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|
Comments : |
Subject is an established company having satisfactory track record.
Financial position of the company appears to be sound. It has achieved a
better increase in its sales and profits during 2012. Trade relations are reported as decent. Business is active. Payments
are reported to be regular and as per commitments The company can be considered for business dealings at usual 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 : |
Ms. Janvi |
|
Designation : |
Admin Department |
|
Contact No.: |
91-7875556038 |
|
Date : |
11.07.2013 |
LOCATIONS
|
Registered Office : |
9B, Shree Krupanand Vihar Chs,
19th Road, Khar (West), Mumbai – 400 052, Maharashtra, India |
|
Tel. No.: |
91-22-24072650 / 26051048 / 26054383 |
|
Mobile No.: |
91-7875556038 (Ms. Jannvi) |
|
Fax No.: |
91-22-24044828// 26486952 |
|
E-Mail : |
|
|
Website : |
www.shreesatya.com |
|
Location : |
Owned |
|
|
|
|
Factory : |
Unit No. 469, Highway No. 6, ambadvet
pirangut, Taluka – Mulshi,
District, Pune – 411 004, Maharashtra, India |
|
Tel. No.: |
91-20-25171766/25171855/30913087 |
|
Fax No.: |
91-20-25171833 |
|
Location : |
Owned |
DIRECTORS
As on: 29.09.2012
|
Name : |
Mr. Satish Sudama Janwalikar |
|
Designation : |
Director |
|
Address : |
9B, Shree Krupa anand
Vihar, Chs, |
|
Date of Birth/Age : |
06.03.1957 |
|
Qualification : |
Graduate |
|
Date of Appointment : |
27.02.1996 |
|
DIN No.: |
01248417 |
|
|
|
|
Name : |
Mrs. Rashmi S Janwalikar |
|
Designation : |
Director |
|
Address : |
9B, Shree Krupa anand
Vihar, Chs, |
|
Date of Birth/Age : |
08.01.1965 |
|
Qualification : |
Graduate |
|
Date of Appointment : |
01.10.1996 |
|
DIN No.: |
01249190 |
KEY EXECUTIVES
|
Name : |
Ms. Janvi |
|
Designation : |
Admin Department |
MAJOR SHAREHOLDERS
As on: 29.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
Satish Sudma Janwalikar |
|
35000 |
|
Rashmi Satish Janwalikar |
|
15000 |
|
Total |
|
50000 |
Equity Share Break up (Percentage of Total Equity)
As on: 29.09.2012
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Resin Coated Sand. |
|
|
|
|
Imports : |
|
|
Products : |
Raw Material |
|
Countries : |
·
Japan ·
|
|
|
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|
Terms : |
|
|
Selling : |
Credit/ Depend |
|
|
|
|
Purchasing : |
Credit/ Depend |
GENERAL INFORMATION
|
No. of Employees : |
55 (Approximately) |
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Bankers : |
·
The Shamrao Vithal Co–Operative Bank Limited, SVC
Tower, Nehru Road, Vakola Santacruz (East) Mumbai-400055, Maharashtra, India.
·
HDFC Bank Limited, HDFC Bank House Senapati Bapat
Marg, Lower Parel (West), Mumbai, Maharashtra, India |
||||||||||||||||||||||||
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Facilities : |
(Rs.
In Millions)
|
|
|
|
|
Banking
Relations : |
|
|
|
|
|
Auditors : |
|
|
Name : |
Karia and Shah Chartered Accountants |
|
Address : |
309, 3rd Floor, Rajgir Sadan Opposite, Sion Railway Station,
Laxmi Baug Sion (West) Mumbai – 400022, |
|
Tel. No.: |
91-22-24044828/2407 2650 |
|
Fax No.: |
91-22-2404 4828 |
|
E-Mail : |
|
|
PAN No.: |
AACPS107N |
CAPITAL STRUCTURE
As on: 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
50000 |
Equity Shares |
Rs.100/- each |
Rs.5.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
50000 |
Equity Shares |
Rs.100/- each |
Rs.5.000 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 |
|
5.000 |
0.377 |
|
(b) Reserves & Surplus |
|
58.831 |
37.354 |
|
(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) |
|
63.831 |
37.731 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
35.548 |
33.754 |
|
(b) Deferred tax liabilities (Net) |
|
0.525 |
0.329 |
|
(c) Other long term liabilities |
|
0.000 |
0.000 |
|
(d) long-term provisions |
|
0.000 |
0.000 |
|
Total Non-current Liabilities (3) |
|
36.073 |
34.083 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term
borrowings |
|
8.510 |
9.395 |
|
(b) Trade payables |
|
13.259 |
18.398 |
|
(c) Other current
liabilities |
|
18.153 |
10.235 |
|
(d) Short-term provisions |
|
0.000 |
0.000 |
|
Total Current Liabilities (4) |
|
39.922 |
38.028 |
|
|
|
|
|
|
TOTAL |
|
139.826 |
109.842 |
|
|
|
|
|
|
II. ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
61.074 |
53.144 |
|
(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 |
|
0.000 |
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 |
|
61.074 |
53.144 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
5.094 |
3.943 |
|
(b) Inventories |
|
10.965 |
6.361 |
|
(c) Trade receivables |
|
41.497 |
33.625 |
|
(d) Cash and cash
equivalents |
|
0.707 |
0.379 |
|
(e) Short-term loans
and advances |
|
8.339 |
7.226 |
|
(f) Other current
assets |
|
12.150 |
5.164 |
|
Total Current Assets |
|
78.752 |
56.698 |
|
|
|
|
|
|
TOTAL |
|
139.826 |
109.842 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
0.377 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
27.270 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
27.647 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
28.827 |
|
|
2] Unsecured Loans |
|
|
12.937 |
|
|
TOTAL BORROWING |
|
|
41.764 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.323 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
69.734 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
55.783 |
|
|
Capital work-in-progress |
|
|
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
1.615 |
|
|
DEFERREX TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
6.101 |
|
|
Sundry Debtors |
|
|
18.345 |
|
|
Cash & Bank Balances |
|
|
1.395 |
|
|
Other Current Assets |
|
|
0.000 |
|
|
Loans & Advances |
|
|
6.726 |
|
Total
Current Assets |
|
|
32.567 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
16.376 |
|
|
Other Current Liabilities |
|
|
0.000 |
|
|
Provisions |
|
|
3.855 |
|
Total
Current Liabilities |
|
|
20.231 |
|
|
Net Current Assets |
|
|
12.336 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
69.734 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
203.990 |
160.978 |
81.588 |
|
|
|
Other Income |
NA |
0.133 |
0.395 |
|
|
|
TOTAL (A) |
NA |
161.111 |
81.983 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Goods Sold |
|
|
38.176 |
|
|
|
Direct Expenses |
|
|
22.707 |
|
|
|
Personnel Expenses |
|
|
3.125 |
|
|
|
Selling and Distribution Expenses |
|
|
3.645 |
|
|
|
Office and Administration Charges |
|
|
4.462 |
|
|
|
TOTAL (B) |
NA |
141.996 |
72.115 |
|
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
NA |
(Including
Financial Expenses) |
9.868 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
NA |
|
5.477 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
38.776 |
19.115 |
4.391 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
NA |
4.425 |
5.105 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX (E-F) (G) |
NA |
14.690 |
(0.714) |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
NA |
4.606 |
(0.046) |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX (G-H) (I) |
22.977 |
10.084 |
(0.668) |
|
|
|
|
|
|
|
|
|
Add |
PROFIT
ON REVALUATION |
NA |
NA |
24.240 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
NA |
NA |
23.572 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
39.235 |
27.883 |
NA |
|
|
TOTAL IMPORTS |
39.235 |
27.883 |
NA |
|
|
|
|
|
|
|
|
|
|
Earnings/ (Loss)
Per Share (Rs.) |
459.54 |
2674.80 |
(177.19) |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
NA
|
6.26 |
(0.81) |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
NA
|
9.13 |
(0.88) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
NA
|
13.37 |
(0.81) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
NA
|
0.39 |
(0.03) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.69
|
1.14 |
1.51 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.97
|
1.49 |
1.61 |
LOCAL AGENCY FURTHER INFORMATION
DETAILS OF SUNDRY
CREDITORS:
(Rs.
in millions)
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
|
|
|
Sundry Creditors for goods |
13.245
|
17.460 |
13.893 |
|
Sundry Creditors for Expenses |
0.014
|
0.938 |
2.483 |
|
Total |
13.259
|
18.398 |
16.376 |
|
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 |
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:
The Manufacturing unit at Pune is Functioning well as per the projections and the Directors are looking ahead for the better prospects. During the year the total sales achieved stood at Rs. 203.990 Millions and the Cash Profit for the year (before depreciation) was Rs. 38.776 Millions. The final PROFIT for the year (after depreciation and taxes) at Rs.22.977 Millions.
FUTURE OUTLOOK:
The Directors are looking for the supply of better quality raw material from the mining area of Sindhudurg and hope to have a tie up with the manufacturer of graded silica sand on regular contract basis. Further the use of new Plant and machinery for producing the reclaimed sand will also bring the cost low and will help the company to plough back the better profits. Based on the revival and growth of the automobile sector the company projects turnover of Rs. 300.000 Millions during the Financial Year 2012-13 i.e. growth of more than 50%. With the better strength of the marketing and in particular now full time involvement of Mr.Kunal Janwalikar in marketing and recovery operation the company is looking ahead for the better situation and to achieve the targets.
UNSECURED LOAN:
(Rs.
in millions)
|
Particulars |
As
on 31.03.2012 |
As
on 31.03.2011 |
|
LONG TERM
BORROWINGS |
|
|
|
From Related
Parties |
|
|
|
Rashmi Janwalikar |
0.071 |
0.129 |
|
Satish Janwalikar |
0.649 |
2.859 |
|
Sudama Janwalikar |
0.368 |
0.368 |
|
From Others Mohan Kajrolkar |
0.500 |
1.000 |
|
Total |
1.588 |
4.356 |
FIXED ASSETS:
· Air Conditioner
· Motor Car
· Computer
· Industrial Shed
· Furniture and Fixtures
· Office Equipments
· Plant and Machinery
· Electrical Equipment
· Capital Work In Progress
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.59.64 |
|
|
1 |
Rs.90.14 |
|
Euro |
1 |
Rs.77.99 |
INFORMATION DETAILS
|
Information
Gathered by : |
PDT |
|
|
|
|
Report Prepared
by : |
RAJ |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
8 |
|
--CREDIT LINES |
1~10 |
6 |
|
--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 |
|
51 |
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.