MIRA
INFORM REPORT
|
Report Date : |
25.06.2013 |
IDENTIFICATION DETAILS
|
Name : |
VENKATESH PLASTO FILMS PRIVATE LIMITED |
|
|
|
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Registered
Office : |
D – 44, MIDC |
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Country : |
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|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
23.01.1996 |
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|
|
|
Com. Reg. No.: |
11-096525 |
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|
|
|
Capital
Investment / Paid-up Capital : |
Rs.1.150
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74999MH1996PTC096525 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
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|
|
|
Line of Business
: |
Manufacturer and Exporter of stretch wrap films. |
|
|
|
|
No. of Employees
: |
17 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (27) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 29000 |
|
|
|
|
Status : |
Moderate |
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|
|
|
Payment Behaviour : |
Slow |
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|
Litigation : |
Clear |
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|
Comments : |
Subject is a small company in its field. Its scale of activities are
limited. The External Borrowing seems to be huge. However, trade relations are reported to be fair. Business is active.
Payments are reported to be slow. 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.
ECGC Country Risk Classification List – March 31st, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
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. Atul Naik |
|
Designation : |
Director |
|
Contact No.: |
91-9822400882 |
|
Date : |
24.06.2013 |
LOCATIONS
|
Registered Office/ Factory : |
D – 44, MIDC |
|
Tel. No.: |
91-2551-230982 |
|
Mobile No.: |
91-9822400882 (Mr. Atul Naik) |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Area : |
1000 Sq. ft. |
|
Location : |
Owned |
DIRECTORS
As on: 28.09.2012
|
Name : |
Mr. Atul Naik |
|
Designation : |
Director |
|
Address : |
Rh. 32 Suyojit Garden, Near Sahadev Nagar, Gp Road, Nashik - 422005,
Maharashtra, India |
|
Date of Birth/Age : |
12.09.1976 |
|
Date of Appointment : |
23.01.1996 |
|
DIN No.: |
02889066 |
|
|
|
|
Name : |
Mrs. Sujata A. Naik |
|
Designation : |
Director |
|
Address : |
A/P – Flat No.25, Building No.5, Pancham Society, Gangapur Road, Nashik - 422005, Maharashtra, India |
|
Date of Birth/Age : |
10.08.1972 |
|
Date of Appointment : |
04.11.2004 |
|
DIN No.: |
02935802 |
MAJOR SHAREHOLDERS
As on: 28.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
Atul Narayan Naik |
|
78402 |
|
Sujata Atul Naik |
|
12300 |
|
Narayan Ramchandra Naik |
|
15000 |
|
Anand Narayan Naik |
|
4300 |
|
Monal Anand Naik |
|
5000 |
|
|
|
|
|
Total |
|
115002 |
Equity Share Break up (Percentage of Total Equity)
As on: 28.09.2012
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of stretch wrap films. |
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|
|
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Exports : |
|
|
Products : |
Stretch Wrap Films |
|
Countries : |
·
·
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Imports : |
|
|
Products : |
Raw Material |
|
Countries : |
·
Saudi Arabia ·
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Terms : |
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Selling : |
Cash and Credit |
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|
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Purchasing : |
Cash and Credit |
GENERAL INFORMATION
|
Customers : |
Wholesalers and Retailers |
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No. of Employees : |
17 (Approximately) |
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Bankers : |
Punjab National Bank, Raviwar Karanja Branch, |
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||||||||||||||||||||||||||||||
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Facilities : |
Cash Credit Rs.7.500 Millions (From Punjab
National Bank) (Rs.
In Millions)
|
|
|
|
|
Banking
Relations : |
|
|
|
|
|
Auditors : |
|
|
Name : |
Palnitkar and Patwardhan Chartered Accountants |
|
Address : |
Shop No. 2, Patwardhan Apartments, Patil Colony 3, Off |
|
PAN No.: |
AAEFP5584C |
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|
|
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Subsidiary Company
: |
Rai Grind-Pack Private Limited CIN No.: U29299MH1996PTC103425 |
CAPITAL STRUCTURE
As on: 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
200000 |
Equity Shares |
Rs.10/- each |
Rs.2.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
115002 |
Equity Shares |
Rs.10/- each |
Rs.1.150
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 |
|
1.150 |
1.150 |
|
(b) Reserves & Surplus |
|
5.357 |
1.807 |
|
(c) Money
received against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
|
0.800 |
0.800 |
|
Total
Shareholders’ Funds (1) + (2) |
|
7.307 |
3.757 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
10.254 |
7.522 |
|
(b) Deferred tax liabilities (Net) |
|
0.000 |
0.000 |
|
(c) Other long term liabilities |
|
0.062 |
0.079 |
|
(d) long-term provisions |
|
0.000 |
0.000 |
|
Total Non-current Liabilities (3) |
|
10.316 |
7.601 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term
borrowings |
|
7.369 |
9.144 |
|
(b) Trade payables |
|
2.284 |
1.291 |
|
(c) Other current
liabilities |
|
0.000 |
0.000 |
|
(d) Short-term provisions |
|
0.165 |
0.264 |
|
Total Current Liabilities (4) |
|
9.818 |
10.699 |
|
|
|
|
|
|
TOTAL |
|
27.441 |
22.057 |
|
|
|
|
|
|
II. ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
11.475 |
6.841 |
|
(ii) Intangible Assets |
|
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
|
0.000 |
0.485 |
|
(iv)
Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
1.400 |
1.200 |
|
(c) Deferred tax assets (net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
0.067 |
0.266 |
|
(e) Other Non-current assets |
|
0.639 |
1.354 |
|
Total Non-Current Assets |
|
13.581 |
10.146 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
0.000 |
0.000 |
|
(b) Inventories |
|
9.985 |
8.317 |
|
(c) Trade receivables |
|
2.305 |
2.375 |
|
(d) Cash and cash
equivalents |
|
1.428 |
1.219 |
|
(e) Short-term loans
and advances |
|
0.000 |
0.000 |
|
(f) Other current assets |
|
0.142 |
0.000 |
|
Total Current Assets |
|
13.860 |
11.911 |
|
|
|
|
|
|
TOTAL |
|
27.441 |
22.057 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
1.150 |
|
|
2] Share Application Money |
|
|
0.800 |
|
|
3] Reserves & Surplus |
|
|
1.310 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
3.260 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
10.197 |
|
|
2] Unsecured Loans |
|
|
5.202 |
|
|
TOTAL BORROWING |
|
|
15.399 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.225 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
18.884 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
7.431 |
|
|
Capital work-in-progress |
|
|
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.000 |
|
|
DEFERREX TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
8.485 |
|
|
Sundry Debtors |
|
|
4.816 |
|
|
Cash & Bank Balances |
|
|
0.958 |
|
|
Other Current Assets |
|
|
0.000 |
|
|
Loans & Advances |
|
|
0.442 |
|
Total
Current Assets |
|
|
14.701 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
2.907 |
|
|
Other Current Liabilities |
|
|
(0.001) |
|
|
Provisions |
|
|
0.342 |
|
Total
Current Liabilities |
|
|
3.248 |
|
|
Net Current Assets |
|
|
11.453 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
18.884 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
19.512 |
20.605 |
|
|
|
Other Income |
|
0.053 |
NA |
|
|
|
TOTAL |
20.397 |
19.565 |
NA |
|
|
|
|
|
|
|
|
|
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
16.542 |
19.330 |
NA |
|
|
|
|
|
|
|
|
|
EXTRA-ORDINARY
ITEMS |
3.750 |
0.000 |
NA |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
0.104 |
0.234 |
0.243 |
|
|
|
|
|
|
|
|
|
|
TAX |
NA |
0.036 |
0.025 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
NA |
0.198 |
0.218 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
NA |
0.235 |
0.207 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
NA |
1.72 |
1.90 |
|
|
Particulars |
|
|
31.03.2013 |
|
Sales Turnover (Approximately) |
|
|
34.000 |
|
|
|
|
|
Expected Sales (2013-14) : Rs.38.000 Millions
The above information has been parted by Mr. Atul Naik.
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
NA
|
1.01 |
NA |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
NA
|
1.20 |
1.18 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.40
|
1.15 |
1.09 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.01
|
0.06 |
0.07 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
2.41
|
4.44 |
4.72 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.41
|
1.11 |
4.52 |
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 |
Yes |
|
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 |
Yes |
|
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) |
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 |
OPERATIONS AND
CURRENT YEAR’S PROSPECTS:
The company has shown consistency in Sales and Gross margins over previous period. Previous year major event occur in the form of sale of land and building of the company situated at M 33, MIDC, Ambad, Nashik, and construction for new factory building at Sinner, due to which there was reduction in production and profits in previous year. The directors are confident that the growth will be achieved in coming years.
UNSECURED LOAN
(Rs.
in Millions)
|
Particulars |
As
on 31.03.2012 |
As
on 31.03.2011 |
|
LONG TERM
BORROWINGS |
|
|
|
Loans and advances
from related parties |
|
|
|
Atul Naik |
3.489 |
3.339 |
|
Narayan Naik |
0.734 |
0.734 |
|
Sujata Naik |
0.688 |
0.289 |
|
Usha N Naik |
0.448 |
0.448 |
|
Naik Products Loan A/c |
0.154 |
0.154 |
|
India Bulls Financial Services Limited |
0.000 |
0.559 |
|
Other loans and
advances |
|
|
|
Advance Against sale of Factory Premises |
0.300 |
2.000 |
|
Total |
5.813 |
7.523 |
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate
identity number of the company |
U74999MH1996PTC096525 |
|
Name of the
company |
VENKATESH PLASTO
FILMS PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
Row House No. 32, Suyojit Garden, Sahadev Nagar, Gangapur Road, Nashik – 422013, Maharashtra, India |
|
This form is for |
Modification of charge |
|
Charge
identification (ID) number of the charge to be modified |
90082462 |
|
Type of charge |
· Movable property (not being pledge) · Others (Stock of raw materials) |
|
Particular of charge
holder |
Punjab National
Bank, Ravivar Karanja, Nashik - 422001, Maharashtra, India |
|
Nature of
instrument creating charge |
Agreement of
Hypothecation of Goods dated 26.11.2012 |
|
Date of
instrument Creating the charge |
26.11.2012 |
|
Amount secured by
the charge |
Rs. 12.000
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest As per Agreement Terms of Repayment Repayable on
demand Margin Stock of Raw
Material: - 25% Extent and Operation of the charge 1. Charge
modified in favour of Punjab National Bank, Ravivar Karanja Branch, Nashik,
Maharashtra, India 2. Company has obtained
total loan facility of Rs.12.000 Millions comprising of 1. CC Stocks:
Rs.8.000 Millions, 2. CC Book Debts (Sub Limit): Rs.2.000 Millions and 3.
FLC/ILC: Rs.4.000 Millions. 3. With this
modification, Company has hypothecated its stock of raw materials as security
for FLC/ILC of Rs.4.000 Millions. Others Company has
procured material from QATAR PETROCHEMICAL COMPANY (Overseas Supplier). |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
All raw material
including of LINEAR LOW DENSITY (LLDPE), LOTRENE Q1018N |
|
Date of
instrument modifying the charge |
24.08.2012 |
|
Particulars of
the present modification |
By this
modification, The Existing Charge
limit is enhanced from Rs.8.000 Millions to Rs.12.000 Millions comprising of:
- 1. CC Stocks : Rs.8.000
Millions 2. CC Book Debts
(Sub Limit): (Rs.2.000 Millions) and 3. New FLC / ILC
Limit : Rs.4.000 Millions Keeping other
terms and conditions unchanged. |
TRADE REFERENCE:
·
Polyfill Technology
Limited
·
Reliance India Limited
FIXED ASSETS:
·
Computer
·
Furniture and Fixtures
·
Office Equipment
·
Plant and Machinery
·
Electrification
·
Tools and Equipments
·
Vehicle
·
Building
·
·
Fire Fighting Equipment
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.59.73 |
|
|
1 |
Rs.91.82 |
|
Euro |
1 |
Rs.78.23 |
INFORMATION DETAILS
|
Report Prepared
by : |
RAJ |
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 |
|
DEFAULTER |
|
|
|
--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 |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.