MIRA INFORM REPORT
|
Report Date : |
10.06.2013 |
IDENTIFICATION DETAILS
|
Name : |
KINECO PRIVATE LIMITED |
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Registered Office : |
Plot No. 41, Pilerne Industrial Estate, Pilerne Bardez-403511, Goa |
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Country : |
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Financials (as on) : |
31.03.2012 |
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Date of Incorporation : |
11.10.1994 |
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Com. Reg. No.: |
24-1672 |
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Capital
Investment / Paid-up Capital : |
Rs.40.000 Millions |
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CIN No.: [Company
Identification No.] |
U24134GA1994PTC001672 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
BLRK05538B |
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PAN No.: [Permanent
Account No.] |
AABCM8681P |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer of
Chemicals Process Equipment From Fiber Re-inforced Plastic (FRP). |
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No. of Employees
: |
Information denied by the management. |
RATING & COMMENTS
|
MIRA’s Rating : |
B (27) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
USD 106000 |
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Status : |
Moderate |
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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 a moderate track record.
There appears huge loss during 2012 recorded by the company. The external
borrowing seems to huge. However, trade relations are reported to be fair. Business is active.
Payments are reported to be slow but correct. The company can be considered for business dealings with great
caution. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
|
Rating |
BB – [Suspended] |
|
Rating Explanation |
Due to lack of information. |
|
Date |
May 2012 |
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 DECLINED BY
|
Name : |
Mr. Prashant |
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Designation : |
Accounts Department |
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Contact No.: |
91-832-6710914 |
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Date : |
10.06.2013 |
LOCATIONS
|
Registered Office/ Factory 1 : |
Plot No. 41, Pilerne Industrial Estate, Pilerne Bardez-403511, Goa,
India |
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Tel. No.: |
91-832-6648888 |
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Fax No.: |
91-832-6648889 |
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E-Mail : |
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Website : |
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Factory 2: |
No. 60, Pilerne Industrial Estate, Pilerne Bardez-403511, Goa, India |
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Tel. No.: |
91-832-6648888 |
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Fax No.: |
91-832-6648889 |
DIRECTORS
AS ON 31.10.2012
|
Name : |
Mr. Shekhar Ravindra Sardessai |
|
Designation : |
Chairman cum Managing Director |
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Address : |
G-1, Excel Residency, Tonca Caranzalem-403002, North Goa, India |
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Date of Birth/Age : |
07.07.1967 |
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Date of Appointment : |
11.10.1994 |
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Din No.: |
00016446 |
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Name : |
Mr. Robin Harish Mazumdar |
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Designation : |
Director |
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Address : |
3, Sanghrajka House, 558, Adenwala Road, Matunga, Mumbai-400019,
Maharashtra, India |
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Date of Birth/Age : |
23.04.1959 |
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Date of Appointment : |
03.04.2005 |
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Din No.: |
00320341 |
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Name : |
Mr. Pranay Vinubhai Shah |
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Designation : |
Director |
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Address : |
142, Clover Watergard, En 69, Kalyani Nagar, Pune-411006, Maharashtra,
India |
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Date of Birth/Age : |
26.07.1954 |
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Date of Appointment : |
03.04.2005 |
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Din No.: |
00320420 |
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Name : |
Mr. Prashant Baburao Naik |
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Designation : |
Whole Time Director |
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Address : |
H. No. 44, Ebhatlem Near PWD Old Water Tank, Panaji-403001, Goa, India
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Date of Birth/Age : |
01.09.1970 |
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Date of Appointment : |
26.09.2007 |
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Din No.: |
01866113 |
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Name : |
Mr. Vinay Balasaheb Jagtap |
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Designation : |
Whole Time Director |
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Address : |
Riverdale Apartments, G3, Opposite Football Ground, Betim Porvorim,
Bardez-403521, Goa, India |
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Date of Birth/Age : |
13.04.1970 |
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Date of Appointment : |
25.03.2008 |
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Din No.: |
573058 |
KEY EXECUTIVES
|
Name : |
Mr. Prashant |
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Designation : |
Accounts Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 31.10.2012
|
Names of Shareholders |
No. of Equity
Shares |
No. of
Preferences Shares |
|
Shekhar Ravindra Sardessai |
65875 |
-- |
|
Shashikant Rajaram Priolker |
6386 |
-- |
|
Rui Alfonso |
29167 |
-- |
|
Tom Quinn |
5984 |
-- |
|
Diana D’esouza |
6302 |
-- |
|
Martinez Michela Dehoz |
16621 |
-- |
|
Sanjay Guha |
8338 |
-- |
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Mariazaat Zohnaveronics Zaat |
5548 |
-- |
|
Robin Harish Mazumdar |
15660 |
-- |
|
Pranay Vinubhai Shah |
12 |
-- |
|
Shivanand Salgaonkar |
40105 |
200000 |
|
Sriram Natarajan |
1 |
-- |
|
Vijay Sinai Suriagi Hede |
1 |
-- |
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TOTAL
|
200000 |
200000 |
AS ON 31.10.2012
|
Equity Share Breakup |
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Percentage of Holding |
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Category |
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Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
18.25 |
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Directors
or relatives of directors |
|
40.77 |
|
Other
top fifty shareholders |
|
40.98 |
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TOTAL |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of
Chemicals Process Equipment From Fiber Re-inforced Plastic (FRP). |
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Products : |
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PRODUCTION STATUS [AS ON 31.03.2010]
|
Particulars |
Unit |
Actual
Production |
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Chemical Process Equipments |
Nos. |
67 |
|
Railway Products |
Nos. |
3231 |
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Advance Composite Products |
Nos. |
3693 |
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Moulded Products |
Nos. |
20060 |
GENERAL INFORMATION
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No. of Employees : |
Information denied by the management. |
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Bankers : |
State Bank of India, Commercial Branch Patto, Panaji –
403001, Goa, India |
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Facilities : |
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Banking
Relations : |
-- |
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Financial
Institution : |
Pyramid Finance Private
Limited, Salgaocar House, F Luis Gomes
Road, Vasco Da Gama-403802, Goa, India |
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Auditors : |
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Name : |
JSV and Company Chartered Accountants |
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Address : |
410, Gera Imperium Patto Plaza, Panaji-403511, Goa, India |
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Tel. No.: |
91-832-2437288 |
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E-Mail : |
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PAN No: |
AAIFJ7818D |
CAPITAL STRUCTURE
AS ON 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
200000 |
Equity Shares |
Rs.100/- each |
Rs.20.000 Millions |
|
500000 |
Preferences Shares |
Rs.100/- each |
Rs.50.000 Millions |
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TOTAL
|
|
Rs.70.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
200000 |
Equity Shares |
Rs.100/- each |
Rs.20.000 Millions |
|
200000 |
Preferences Shares |
Rs.100/- each |
Rs.20.000
Millions |
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TOTAL |
|
Rs.40.000 Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
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SHAREHOLDERS FUNDS |
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|
1] Share Capital |
40.000 |
40.000 |
40.000 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
0.000 |
51.372 |
44.150 |
|
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4] (Accumulated Losses) |
(13.491) |
0.000 |
(10.794) |
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NETWORTH |
26.509 |
91.372 |
73.356 |
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LOAN FUNDS |
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1] Secured Loans |
171.480 |
151.363 |
100.022 |
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2] Unsecured Loans |
14.202 |
16.837 |
27.910 |
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3] Future Lease Obligation and Hire Purchase |
0.000 |
0.000 |
1.489 |
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TOTAL BORROWING |
185.682 |
168.200 |
129.421 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
212.191 |
259.572 |
202.777 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
165.879 |
158.527 |
112.941 |
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Capital work-in-progress |
0.000 |
16.212 |
5.980 |
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INVESTMENT |
10.552 |
10.307 |
10.306 |
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DEFERREX TAX ASSETS |
9.576 |
9.576 |
10.265 |
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CURRENT ASSETS, LOANS & ADVANCES |
|
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Inventories |
48.408
|
65.751 |
34.245
|
|
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Sundry Debtors |
141.407
|
152.284 |
200.862
|
|
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Cash & Bank Balances |
7.527
|
8.694 |
11.983
|
|
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Other Current Assets |
0.545
|
0.956 |
0.985
|
|
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Loans & Advances |
35.566
|
31.251 |
26.106
|
|
Total
Current Assets |
233.453
|
258.936 |
274.181 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
136.339
|
132.474 |
131.562
|
|
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Other Current Liabilities |
57.299
|
47.351 |
68.128
|
|
|
Provisions |
13.631
|
14.161 |
11.206
|
|
Total
Current Liabilities |
207.269
|
193.986 |
210.896
|
|
|
Net Current Assets |
26.184
|
64.950 |
63.285
|
|
|
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|
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|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
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TOTAL |
212.191 |
259.572 |
202.777 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
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SALES |
|
|
|
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|
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Income |
128.481 |
277.199 |
344.384 |
|
|
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Other Income |
0.601 |
9.655 |
5.085 |
|
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TOTAL (A) |
129.082 |
286.854 |
349.469 |
|
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|
|
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Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
73.458 |
134.471 |
|
|
|
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Employee Benefits Expenses |
43.635 |
50.767 |
|
|
|
|
Other Expenses |
26.357 |
45.287 |
274.796 |
|
|
|
Decrease in Value of Moulds |
2.536 |
2.882 |
|
|
|
|
Decrease/(Increase) in Stocks |
2.573 |
(5.925) |
|
|
|
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TOTAL (B) |
148.559 |
227.482 |
274.796 |
|
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|
|
|
|
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|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
(19.477) |
59.372 |
74.673 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
34.950 |
25.237 |
20.989 |
|
|
|
|
|
|
|
|
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|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
(54.427) |
34.135 |
53.684 |
|
|
|
|
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|
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|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
10.436 |
8.010 |
6.022 |
|
|
|
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|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
(64.863) |
26.125 |
47.662 |
|
|
|
|
|
|
|
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|
Less |
TAX (H) |
0.000 |
2.024 |
(2.786) |
|
|
|
|
|
|
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|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
(64.863) |
24.101 |
50.448 |
|
|
|
|
|
|
|
|
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|
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
7.222 |
(10.794) |
NA |
|
|
|
|
|
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|
APPROPRIATIONS |
|
|
|
|
|
|
|
Dividend on Preferences Shares |
0.000 |
4.142 |
NA |
|
|
|
Tax on Dividend |
0.000 |
0.688 |
NA |
|
|
BALANCE CARRIED
TO THE B/S |
(57.641) |
7.222 |
NA |
|
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|
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|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
38.872 |
77.262 |
89.588 |
|
|
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|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
(324.31) |
114.23 |
252.14 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
(50.25)
|
8.40 |
14.43
|
|
|
|
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|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
(50.48)
|
9.42 |
13.83
|
|
|
|
|
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|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(16.24)
|
6.25 |
12.31
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(2.45)
|
0.29 |
0.64
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
7.00
|
1.84 |
1.76
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.13
|
1.33 |
1.30
|
LOCAL AGENCY FURTHER INFORMATION
DETAILS OF SUNDRY CREDITORS:
|
Particulars |
31.03.2012 [Rs. in millions] |
31.03.2011 [Rs. in millions] |
31.03.2010 [Rs. in millions] |
|
Sundry Creditors |
136.339
|
132.474 |
131.562
|
|
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 |
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 |
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] |
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 |
Yes |
BANKERS CHARGES
REPORT AS PER REGISTRY
|
This form is for |
Modification of
charge |
|
Charge
identification number of the modified |
10256749 |
|
Corporate
identity number of the company |
U24134GA1994PTC001672 |
|
Name of the
company |
KINECO PRIVATE
LIMITED |
|
Address of the
registered office or of the principal place of business in |
Plot No. 41, Pilerne Industrial Estate, Pilerne Bardez-403511, Goa,
India |
|
Type of charge |
Movable Property
[not being pledge] |
|
Particular of
charge holder |
Pyramid Finance
Private Limited, Salgaocar House, F
Luis Gomes Road, Vasco Da Gama-403802, Goa, India Email: sec@vmsalgaocar.com |
|
Nature of
description of the instrument creating or modifying the charge |
No dues
certificate against assets being released. |
|
Date of
instrument Creating the charge |
02.11.2012 |
|
Amount secured by
the charge |
Rs.4.150 Millions
|
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Extent and Operation of the charge Charge On The
Bond Master 1000e+ Color LCD Multi Mode Is Released After Repayment Of The
Loan Amount. |
|
Short particulars
of the property charged |
The charge on the
bond master 1000e+ color LCD multi mode is released after repayment of the
loan amount. |
|
Particulars of
the present modification |
The charge on the
bond master 1000e+ color LCD multi mode is released after repayment of the loan
amount. |
FIXED ASSETS:
- Factory Building
- Plant, Machinery,
Equipments and Tools
- Electrical Fittings
- Furniture and Fixtures
- Office Equipments
- Vehicle
- Computers
- Laboratory Equipment
NEWS:
Kineco Private Limited, and the Albatros Group, through its subsidiary,
ALTE Transportation S. L. of Spain, one of the global leaders in designing,
supply and commissioning of world class on-board interior equipment and systems
have entered into a Joint Venture agreement for design, manufacture and supply
of complete rail car interiors and other on board equipment to the fast growing
Indian rail market.
Alte is a part of the Albatros Group. They are one of the global leaders
in designing, supply and commissioning of world class on-board interior
equipment and systems for new railway coaches as well as for refurbishment and
modernization projects. They have expertise in designing, installing and
commissioning of entire on-board systems for trains including air-conditioning
and waste management systems.
While announcing the JV, Mr. Shekhar Sardessai, Chairman and Managing
Director of Kineco Private Limited commented: "The Indian Railway Industry
currently produces about 2500 coaches annually, a capacity which it intends to
double over the next couple of years. In addition to this, there are 24 Indian
cities (asides from Bangalore and Delhi) which are bidding for metros. This
coupled with the Railway's plan to introduce world class interiors and on-board
systems into India, presents a tremendous opportunity for railway interior
suppliers, especially given that there are currently no companies in India
which have world class interior experience. Kineco, together with the Albatros
group have decided to grab this opportunity and bring into India the best
interior designs and the latest technology for on-board systems. This joint
venture will leverage the strengths of Kineco as a world class composite
manufacturer and Alte’s capability as one of the global leaders in on-board
railway technology to usher into India a new era of advanced high technology
on-board systems and aesthetically pleasing railway interiors."
The joint venture company has been incorporated under the name Kineco
Alte Train Technologies Private Limited (KATT) in Goa on the 14th of December,
2010, just a little over a month after the two parties signed the JV agreement
in Barcelona, Spain where Alte is headquartered.
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.56.74 |
|
|
1 |
Rs.88.53 |
|
Euro |
1 |
Rs.75.20 |
INFORMATION DETAILS
|
Information
Gathered by : |
PDT |
|
|
|
|
Report Prepared
by : |
TPT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
27 |
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.