MIRA
INFORM REPORT
|
Report Date : |
18.06.2013 |
IDENTIFICATION DETAILS
|
Name : |
RATNESH STEEL TRADE PRIVATE LIMITED [w.e.f.12.03.2010] |
|
|
|
|
Formerly Known
As : |
RANTESH STEEL TRADE PRIVATE LIMITED [w.e.f.18.01.2010] SUNPRIYA ACQUA MINERALS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
1, Ganesh
Chayya, 66 R. B. Mehta Marg, Ghatkopar [East], Mumbai – 400077, |
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|
Country : |
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|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
30.09.2004 |
|
|
|
|
Com. Reg. No.: |
11-112673 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 9.852
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U27100MH2004PTC112673 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMS23589G |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCS9475R |
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|
|
Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Trader of Iron and Steel Allied Products and also Commission Agent. |
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|
|
|
No. of Employees
: |
16 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (36) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 757000 |
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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. The
profitability of the company appears to be low. The external borrowing seems
to be increasing over years. However, trade relations are reported to be fair. Business is active.
Payments 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.
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. Borakh |
|
Designation : |
Accounts Department |
|
Contact No.: |
91-22-21022337 |
|
Date : |
17.06.2013 |
LOCATIONS
|
Registered/ Head Office : |
1, Ganesh
Chayya, 66 R. B. Mehta Marg, Ghatkopar [East], Mumbai – 400077, Maharashtra,
India |
|
Tel. No.: |
91-22-21022337/ 32663978 |
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Fax No.: |
91-22-21022337 |
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E-Mail : |
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|
Website : |
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|
Location : |
Owned |
DIRECTORS
AS ON 29.09.2012
|
Name : |
Mr. Nilesh Shantilal Parekh |
|
Designation : |
Director |
|
Address : |
R. No. 1, Ganesh Chaya, R.B. Mehta Marg, Ghatkopar (East), Mumbai – 400077,
Maharashtra, India |
|
Date of Birth/Age : |
07.09.1962 |
|
Date of Appointment : |
08.10.2005 |
|
PAN No.: |
AACPP6001C |
|
DIN No.: |
00933670 |
|
|
|
|
Name : |
Mr. Alkesh Shantilal Parekh |
|
Designation : |
Director |
|
Address : |
R. No. 1, Ganesh Chaya, R.B. Mehta Marg, Ghatkopar (East), Mumbai –
400077, Maharashtra, India |
|
Date of Birth/Age : |
16.08.1968 |
|
Date of Appointment : |
08.10.2005 |
|
PAN No.: |
AADPP3668E |
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DIN No.: |
01688357 |
KEY EXECUTIVES
|
Name : |
Mr. Borakh |
|
Designation : |
Accounts Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 29.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
Akshar Enterprises, India |
|
10 |
|
Alkesh S. Parekh |
|
599820 |
|
Alkesh S. Parekh -HUF |
|
10 |
|
Bhavana C Mehta |
|
10 |
|
Chhaya Ketan Parekh |
|
20 |
|
Darshana B Doshi |
|
10 |
|
Devendra R Dhedia |
|
10 |
|
Dhuru Alkesh Parekh |
|
10 |
|
Jaynesh Nilesh Parekh |
|
10 |
|
Kamlesh Mundra HUF |
|
10 |
|
Kavita Alkesh Parekh |
|
20 |
|
Keshav Mundra |
|
10 |
|
Ketan S. Parekh |
|
125000 |
|
Ketan S. Parekh HUF |
|
10 |
|
Mahesh Mundra HUF |
|
10 |
|
Nilesh S Parekh |
|
260100 |
|
Nilesh S Parekh HUF |
|
10 |
|
Nisha Nilesh Parekh |
|
20 |
|
Parth Mundra |
|
10 |
|
Ramjibhai K Dhedhia |
|
10 |
|
Ramjibhai K Dhedhia HUF |
|
10 |
|
Riddhi B Doshi |
|
10 |
|
Shantilal V Parekh |
|
10 |
|
Shantilal V Parekh-HUF |
|
10 |
|
S K Packaging, India |
|
10 |
|
Skub Enterprises, India |
|
10 |
|
Skub Pack, India |
|
10 |
|
Urja Alkesh Parekh |
|
10 |
|
|
|
|
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Total |
|
985200 |
AS ON 29.09.2012
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Directors
or relatives of directors |
|
100.00 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Trader of Iron and Steel Allied Products and also Commission Agent. |
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Terms : |
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Selling : |
Credit |
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Purchasing : |
Credit and Depend |
GENERAL INFORMATION
|
Customers : |
Wholesalers and Retailers |
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No. of Employees : |
16 (Approximately) |
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Bankers : |
Oriental Bank of
Commerce, Overseas Branch, Dalamal Towers, 211 Nariman Point, Mumbai -
400021, Maharashtra, India |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
Shah and Taparia Chartered Accountants |
|
Address : |
12, Navjeevan
Wadi, Dhobi Talao, Mumbai – 400002, Maharashtra, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AAOFS0663D |
|
|
|
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Associates : |
Ratnesh
Engineering Private Limited [U27100MH2004PTC145452] Ratnesh Metal
Industries Private Limited [U28999GJ1998PTC033954] |
CAPITAL STRUCTURE
AS ON 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1,000,000 |
Equity Shares |
Rs. 10/- each |
Rs. 10.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
985,200 |
Equity Shares |
Rs. 10/- each |
Rs. 9.852
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 |
|
9.852 |
9.852 |
|
(b) Reserves & Surplus |
|
36.569 |
24.125 |
|
(c) Money received against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money
pending allotment |
|
142.866 |
72.215 |
|
|
|
|
|
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(3)
Non-current liabilities |
|
|
|
|
(a) long-term borrowings |
|
46.665 |
75.930 |
|
(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 |
|
|
|
|
|
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(4)
Current liabilities |
|
|
|
|
(a)
Short term borrowings |
|
129.424 |
63.929 |
|
(b)
Trade payables |
|
499.397 |
185.192 |
|
(c)
Other current liabilities |
|
12.278 |
3.640 |
|
(d) Short-term
provisions |
|
7.244 |
8.823 |
|
TOTAL |
|
884.295 |
443.706 |
|
|
|
|
|
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II.
ASSETS |
|
|
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|
(1)
Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
1.632 |
1.917 |
|
(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 |
|
4.899 |
4.899 |
|
(c) Deferred tax assets (net) |
|
0.067 |
0.047 |
|
(d) Long-term Loan and Advances |
|
5.308 |
16.541 |
|
(e)
Other Non-current assets |
|
0.000 |
0.000 |
|
|
|
|
|
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(2) Current assets |
|
|
|
|
(a) Current investments |
|
0.000 |
0.000 |
|
(b) Inventories |
|
46.726 |
66.755 |
|
(c) Trade receivables |
|
597.548 |
339.949 |
|
(d) Cash and cash equivalents |
|
37.062 |
10.122 |
|
(e) Short-term loans and advances |
|
191.053 |
3.476 |
|
(f) Other current assets |
|
0.000 |
0.000 |
|
TOTAL |
|
884.295 |
443.706 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
9.852 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
6.972 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
16.824 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
0.000 |
|
|
2] Unsecured Loans |
|
|
0.051 |
|
|
TOTAL BORROWING |
|
|
0.051 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
16.875 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
0.000 |
|
|
Capital work-in-progress |
|
|
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.000 |
|
|
DEFERRED TAX ASSETS |
|
|
16.996 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
27.144 |
|
|
Sundry Debtors |
|
|
0.025 |
|
|
Cash & Bank Balances |
|
|
0.256 |
|
|
Other Current Assets |
|
|
0.000 |
|
|
Loans & Advances |
|
|
1.133 |
|
Total
Current Assets |
|
|
28.558 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
28.547 |
|
|
Other Current Liabilities |
|
|
0.000 |
|
|
Provisions |
|
|
0.193 |
|
Total
Current Liabilities |
|
|
28.740 |
|
|
Net Current Assets |
|
|
(0.182) |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.061 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
16.875 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL |
2019.304 |
1755.437 |
31.552 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
1997.042 |
1729.702 |
27.626 |
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
22.262 |
25.735 |
3.926 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
7.224 |
8.582 |
0.193 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
15.038 |
17.153 |
3.733 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
15.26 |
17.41 |
3.79 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
0.74
|
0.98 |
11.83 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.53
|
5.87 |
13.75 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.12
|
0.24 |
0.23 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.93
|
1.32 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.35
|
1.61 |
0.99 |
LOCAL AGENCY FURTHER INFORMATION
SUNDRY CREDITORS
DETAILS:
|
Particulars |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
(Rs. In Millions) |
||
|
|
|
|
|
|
Trade Payable |
499.397 |
185.192 |
28.547 |
|
|
|
|
|
|
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 |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
Yes |
|
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 |
Yes |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
No |
UNSECURED LOANS
|
Unsecured Loans |
31.03.2012 |
31.03.2011 |
|
|
(Rs. In Millions) |
|
|
LONG-TERM BORROWINGS |
|
|
|
Loans and advances from others |
44.475 |
75.930 |
|
Loans and advances from directors |
2.190 |
0.000 |
|
Total |
46.665 |
75.930 |
CORPORATE INFORMATION
Subject is a
company domiciled in India and incorporated under the provisions of the
Companies Act, 1956. The company is engaged in dealing in Iron and Steel Allied
Products and also Commission Agent.
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate
identity number of the company |
U27100MH2004PTC112673 |
|
Name of the
company |
RATNESH STEEL
TRADE PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
1, Ganesh Chayya,
66 R. B. Mehta Marg, Ghatkopar [East], Mumbai – 400077, Maharashtra,
India Email: ramesh@shahtaparia.com |
|
This form is for |
Modification of charge |
|
Charge
identification number of the modified |
10268935 |
|
Type of charge |
Book debts Movable property (not being pledge) Others [M S Flat bars, round bars etc.] |
|
Particular of
charge holder |
Oriental Bank of
Commerce, Overseas Branch, Dalamal Towers, 211 Nariman Point, Mumbai - 400021,
Maharashtra, India Email: emailroc@rediffmail.com |
|
Nature of
description of the instrument creating or modifying the charge |
Supplemental
Agreement to Secure Credit / Loan Facilities |
|
Date of instrument
Creating the charge |
07.02.2012 |
|
Amount secured by
the charge |
Rs. 225.000
Millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest Interest @ 14.25%
p.a or such other rate as agreed between the borrower company and the bank
from time to time. Penal int. @2%
p.a over & above the normal int. rate in case of default 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.
225.000 Millions against Hypothecation of goods, entire trading stock of CRCA
sheets/coil, hot rolls sheets/coils, M S. angles, galvanized sheets/coils, S
Channel, M S Beams, M S Flat bars, round bars, etc. advance given to
suppliers receivables and book debts. The Charge stands
modified upto Rs. 225.000 Millions |
|
Short particulars
of the property charged |
Hypothecation of
goods, entire trading stock of CRCA sheets/coil, hot rolls sheets/coils, M S.
angles, galvanized sheets/coils, S Channel, M S Beams, M S Flat bars, round
bars, etc. |
|
Particulars of
the present modification |
At the request of
the borrower company, the bank has enhanced overall banking limits upto Rs.
225.000 Millions against Hypothecation of goods, entire trading stock of CRCA
sheets/coil, hot rolls sheets/coils, M S. angles, galvanized sheets/coils, S
Channel, M S Beams, M S Flat bars, round bars, etc. advance given to
suppliers receivables and book debts. The Charge stands
modified upto Rs. 225.000 Millions |
FIXED ASSETS:
Plant and equipment
Factory equipments
Furniture and fixtures
Vehicles
Motor vehicles
Office equipment
Computer equipments
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. 57.73 |
|
|
1 |
Rs. 90.61 |
|
Euro |
1 |
Rs. 76.96 |
INFORMATION DETAILS
|
Information Gathered
by : |
PDT |
|
|
|
|
Report Prepared
by : |
BVA |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
4 |
|
--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 |
|
DEFAULTERS |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
36 |
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.