MIRA
INFORM REPORT
|
Report Date : |
12.07.2013 |
IDENTIFICATION DETAILS
|
Name : |
SUNITA COMMERCIALS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
39, 2nd Boiwada Above Moutain Showroom, Bhuleshwer Road,
Mumbai – 400002, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
28.12.1990 |
|
|
|
|
Com. Reg. No.: |
11-059595 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.2.963 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U99999MH1990PTC059595 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Distributor and Importer of Industries Chemicals. |
|
|
|
|
No. of Employees
: |
19 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (43) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 210000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having a satisfactory track record.
There appears slight dip in the profitability during 2012. However, general financial position seems to be strong. Trade
relations are reported to be fair. Business is active. Payments are reported
to be usually correct and as per commitment. The company can be considered for normal business dealings at usual
trade terms and condition. |
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. Mane |
|
Designation : |
Account Department |
|
Contact No.: |
91-22-41128000 |
|
Date : |
11.07.2013 |
LOCATIONS
|
Registered Office : |
39, 2nd Boiwada Above Moutain Showroom, Bhuleshwer Road,
Mumbai – 400002, Maharashtra, India |
|
Tel. No.: |
91-22-25472318 |
|
Fax No.: |
91-22-25472481 |
|
E-Mail : |
|
|
Website : |
|
|
Location: |
Owned |
|
|
|
|
Corporate Office : |
A-204, Amar Gian Complex, LBS Marg, Thane (West) – 400601,
Maharashtra, India |
|
Tel. No.: |
91-22-41128000 |
|
Fax No.: |
91-22-21720036 |
|
E-Mail : |
DIRECTORS
As on 29.09.2012
|
Name : |
Mr. Ashok Giridhari Saraf |
|
Designation : |
Director |
|
Address : |
39, 2nd Bhoiwada, Bhuleshwar, Mumbai - 400002, Maharashtra,
India |
|
Date of Birth/Age : |
20.11.1957 |
|
Date of Appointment : |
12.04.2004 |
|
DIN No.: |
00400302 |
|
|
|
|
Name : |
Mr. Rajkumar Brahmadutt Bubna |
|
Designation : |
Director |
|
Address : |
3C/24, Drug, Co-Operative Housing Society, Pokharan Road, Thane
(West), Maharashtra, India |
|
Date of Birth/Age : |
06.06.1942 |
|
Date of Appointment : |
28.12.1990 |
|
DIN No.: |
00400371 |
|
|
|
KEY EXECUTIVES
|
Name : |
Mr. Mane |
|
Designation : |
Account Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 29.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
Ashok Saraf |
|
246180 |
|
Rajkumar Bubna |
|
50 |
|
Premila |
|
10 |
|
Nandkumar Agarwal |
|
10 |
|
Rajendra Kumar Verma |
|
3000 |
|
Rajkumar Jain |
|
3000 |
|
Kalidas Swami |
|
4000 |
|
Satya Narayan Sharma |
|
4000 |
|
Laxmichand Jangid |
|
4000 |
|
Paraschand Jain |
|
3000 |
|
Tilakraj Khandelwal |
|
4000 |
|
Arvind Bhatt |
|
5000 |
|
Gulablal Raika |
|
5000 |
|
Devkaran Tanwar |
|
5000 |
|
Banwarilal Jhat |
|
5000 |
|
Ghanshyam Khandelwal |
|
5000 |
|
|
|
|
|
Total |
|
296250 |
Equity Share Break up (Percentage of Total Equity)
As on 29.09.2012
|
Category |
Percentage |
|
Directors or relatives of Directors |
83.12 |
|
Other top fifty shareholders |
16.88 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Distributor and Importer of Industries Chemicals. |
|
|
|
|
Imports : |
|
|
Products : |
Finished Goods |
|
Countries : |
·
China ·
Qatar |
|
|
|
|
Terms : |
|
|
Selling : |
Credit |
|
|
|
|
Purchasing : |
Credit and Depend |
GENERAL INFORMATION
|
Customers : |
End Users ·
Aquapharm ·
Balmer Lawrie ·
BASF India ·
Bharat Insulation ·
Century Ply ·
CUMI ·
Egwood ·
E-Merck ·
Esterkote ·
Foseco ·
Clariant Chemicals |
|
|
|
|
No. of Employees : |
19 (Approximately) |
|
|
|
|
Bankers : |
·
Standard Chartered Bank, SME Credit, Crescenzo,
3A/F, Plot No. C – 38 and 39, G Block, Bandra Kurla Complex, Bandra East,
Mumbai – 400051, Maharashtra, India ·
HDFC
Bank Limited, HDFC Bank House Senapati Bapat Marg, Lower Parel (West), Mumbai – 400013,
Maharashtra, India ·
Centurion Bank of Punjab, Nariman Point, Mumbai –
400021, Maharashtra, India |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Mittal and Associates Chartered Accountants |
|
Address : |
101, MK Bhavan, SBS Road, Fort, Mumbai - 400001, Maharashtra, India |
|
PAN N Income-tax PAN of auditor or auditor's firm : |
AAAFM9559Q |
CAPITAL STRUCTURE
As on 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
500000 |
Equity Shares |
Rs.10/- each |
Rs. 5.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
296250 |
Equity Shares |
Rs.10/- each |
Rs. 2.963
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 |
|
2.963 |
2.963 |
|
(b) Reserves & Surplus |
|
49.686 |
47.077 |
|
(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) |
|
52.649 |
50.040 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
6.016 |
7.421 |
|
(b) Deferred tax liabilities (Net) |
|
0.944 |
0.500 |
|
(c) Other long term liabilities |
|
0.000 |
0.000 |
|
(d) long-term provisions |
|
0.000 |
0.000 |
|
Total Non-current Liabilities (3) |
|
6.960 |
7.921 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
|
84.629 |
74.030 |
|
(b) Trade payables |
|
91.159 |
48.770 |
|
(c) Other current
liabilities |
|
2.968 |
4.899 |
|
(d) Short-term provisions |
|
0.000 |
0.000 |
|
Total Current Liabilities (4) |
|
178.756 |
127.699 |
|
|
|
|
|
|
TOTAL |
|
238.365 |
185.660 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
19.283 |
14.759 |
|
(ii) Intangible Assets |
|
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
|
1.290 |
0.000 |
|
(iv)
Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
0.100 |
0.100 |
|
(c) Deferred tax assets (net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
4.648 |
4.614 |
|
(e) Other Non-current assets |
|
3.404 |
0.253 |
|
Total Non-Current Assets |
|
28.725 |
19.726 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
0.000 |
0.000 |
|
(b) Inventories |
|
27.425 |
41.956 |
|
(c) Trade receivables |
|
147.607 |
94.657 |
|
(d) Cash and cash
equivalents |
|
26.280 |
22.921 |
|
(e) Short-term loans and advances |
|
0.058 |
0.035 |
|
(f) Other current assets |
|
8.270 |
6.365 |
|
Total Current Assets |
|
209.640 |
165.934 |
|
|
|
|
|
|
TOTAL |
|
238.365 |
185.660 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
2.963 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
38.193 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
41.156 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
22.859 |
|
|
2] Unsecured Loans |
|
|
4.968 |
|
|
TOTAL BORROWING |
|
|
27.827 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.115 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
69.098 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
1.521 |
|
|
Capital work-in-progress |
|
|
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.100 |
|
|
DEFERREX TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
20.267
|
|
|
Sundry Debtors |
|
|
82.384
|
|
|
Cash & Bank Balances |
|
|
6.874
|
|
|
Other Current Assets |
|
|
0.000
|
|
|
Loans & Advances |
|
|
10.930
|
|
Total
Current Assets |
|
|
120.455
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
46.169
|
|
|
Other Current Liabilities |
|
|
0.487
|
|
|
Provisions |
|
|
6.322
|
|
Total
Current Liabilities |
|
|
52.978
|
|
|
Net Current Assets |
|
|
67.477
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
69.098 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
|
|
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL |
574.211 |
545.149 |
392.792 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
570.258 |
531.867 |
385.363 |
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
3.953 |
13.282 |
7.429 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
1.344 |
4.399 |
2.783 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
2.609 |
8.883 |
4.646 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
29.489 |
20.606 |
15.960 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
32.098 |
29.489 |
20.606 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
8.81 |
(29.83) |
NA |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
0.45
|
1.63 |
1.18 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.66
|
7.15 |
6.17 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.08
|
0.27 |
0.18 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
1.72
|
1.63 |
0.68 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.17
|
1.30 |
2.27 |
LOCAL AGENCY FURTHER INFORMATION
SUNDRY CREDITORS
DETAILS:
|
Particulars |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
(Rs. In Millions) |
||
|
Sundry Creditors |
91.159 |
48.770 |
46.169 |
|
|
|
|
|
|
Total |
91.159 |
48.770 |
46.169 |
|
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 |
Yes |
|
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 |
UNSECURED LOAN
|
PARTICULARS |
31.03.2012 (Rs.
in Millions) |
31.03.2011 (Rs.
in Millions) |
|
Long-term
Borrowings |
|
|
|
Term Loans From Bank |
6.016 |
7.422 |
|
Short-term
borrowings |
|
|
|
Loans repayable on demand From Bank |
52.904 |
66.430 |
|
Loans and Advance from related parties |
31.725 |
7.600 |
|
Total |
90.645 |
81.452 |
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate
identity number of the company |
U99999MH1990PTC059595 |
|
Name of the
company |
SUNITA
COMMERCIALS PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
39, 2nd Boiwada Above Moutain Showroom, Bhuleshwer Road,
Mumbai – 400002, Maharashtra, India Email: mane@sunitacommercials.com
|
|
This form is for |
Modification of charge |
|
Charge identification
(ID) number of the charge to be modified |
10225104 |
|
Type of charge |
·
Book debts ·
Movable
property (not being pledge) ·
Floating charge |
|
Particular of
charge holder |
CIN:
L65920MH1994PLC080618 HDFC Bank Limited,
HDFC Bank House Senapati Bapat Marg, Lower Parel (West), Mumbai – 400013,
Maharashtra, India Email: RBBform8@hdfcbank.com |
|
Nature of
instrument creating charge |
27.04.2012 |
|
Date of
instrument Creating the charge |
Rs.158.925
Millions |
|
Amount secured by
the charge |
|
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest Interest as
stipulated in the Bank's Sanction Letter. Terms of
Repayment Working Capital
facility shall be repayable on Demand. Term Loan shall
be repayable in suitable instalments. Margin Margin as
stipulated in the Bank's Sanction Letter Extent and
Operation of the charge Hypothecation by
way of First Charge on Company's Stocks and Book Debts, to secure as a continuing security as
mentioned in Column No.15 below for the repayment of Rs.158.925 Millions
together with interest, costs, charges, expenses and other moneys due and
payable by the Company to the Bank. |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
Stock in Trade,
consisting of raw materials, goods in process of manufacturing finished
goods, and other merchandise whatsoever being movable properties All the debts,
that is, all the book debts, outstandings, monies receivables, claims, bills, invoice documents, contracts,
guarantees, and rights |
|
Date of
instrument modifying the charge |
31.01.2011 |
|
Particulars of
the present modification |
The Charge shall
now stand increased from Rs.148.925 Millions to Rs.158.925 Millions against
the security of Stocks and Book Debts of the Company. |
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.59.64 |
|
|
1 |
Rs.90.14 |
|
Euro |
1 |
Rs.77.99 |
INFORMATION DETAILS
|
Information
Gathered by : |
PDT |
|
|
|
|
Report Prepared
by : |
KVT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
4 |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
43 |
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.