MIRA INFORM REPORT
|
Report Date : |
28.06.2013 |
IDENTIFICATION DETAILS
|
Name : |
FIBRO INDIA STANDARD PARTS PRIVATE LIMITED (w. e .f. 21.07.2008) |
|
|
|
|
Formerly Known
As : |
FIBRO (INDIA) STANDARD PARTS PRIVATE LIMITED |
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Registered
Office : |
Plot No. A-55, M.I.D.C. Phase II Chakan, Pune - 410501, Maharashtra |
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Country : |
India |
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Financials (as
on) : |
31.12.2012 |
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Date of
Incorporation : |
23.04.2008 |
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|
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Com. Reg. No.: |
11-131856 |
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Capital
Investment / Paid-up Capital : |
Rs.93.115
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U29299PN2008FTC131856 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
PNEF01081D |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCF2251L |
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|
|
|
Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer, Exporter and Supplier of Steel die sets, guide elements, oilless guide elements and precision components such as punches and matrixes, etc. |
|
|
|
|
No. of Employees
: |
40 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (48) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 700000 |
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|
Status : |
Satisfactory |
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|
|
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
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Comments : |
Subject is a part of Fischer – Brod Beck GMBH (FIBRO), Germany. It is
an established company having satisfactory track record. There appears decent profitability during 2012. Profit margin seems to
be good. Trade relations are fair. Business is active. Payment terms are
reported as usually correct. In view of experienced promoters the company can be considered normal
for business dealings at usual trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
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. Siddharth |
|
Designation : |
HR Admin |
|
Contact No.: |
91-9881000273 |
|
Date : |
13.06.2013 |
LOCATIONS
|
Registered Office/ Factory : |
Plot No. A-55, M.I.D.C. Phase II Chakan, Pune - 410501, Maharashtra, India |
|
Tel. No.: |
91-2135-338800 |
|
Mobile No.: |
91-9881000273 |
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Fax No.: |
91-2135-338888 |
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E-Mail : |
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Website : |
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Area : |
1 Acre |
|
Location : |
Owned |
DIRECTORS
As on: 07.03.2013
|
Name : |
Mr. Sagar Vishnu Jog |
|
Designation : |
Director |
|
Address : |
“Pranjal” Plot No. 1085/10, Green Park Society, Baner, Pune - 411007, Maharashtra, India |
|
Date of Birth/Age : |
09.11.1948 |
|
Date of Appointment : |
23.04.2008 |
|
DIN No.: |
00533121 |
|
|
|
|
Name : |
Mr. Jurgen Werner Gurt |
|
Designation : |
Managing director |
|
Address : |
Gundelsheim Ortsteil, Bergstraibe 32, Tiefenbach |
|
Date of Birth/Age : |
29.05.1965 |
|
Date of Appointment : |
20.06.2012 |
|
DIN No.: |
05330510 |
KEY EXECUTIVES
|
Name : |
Mr. Siddharth |
|
Designation : |
HR Admin |
MAJOR SHAREHOLDERS
As on: 07.03.2013
|
Names of Shareholders |
|
No. of Shares |
|
Fibro GmbH |
|
9311558 |
|
Fibro France s.a.r.l. |
|
1 |
|
Total |
|
9311559 |
Equity Share Break up (Percentage of Total Equity)
As on: 07.03.2013
|
Category |
Percentage |
|
Foreign holdings( Foreign institutional investor(s),
Foreign companie(s) Foreign financial institution(s), Non-resident Indian(s)
or Overseas Corporate bodies or Others |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer, Exporter and Supplier of Steel die sets, guide
elements, oilless guide elements and precision components such as punches and
matrixes, etc. |
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Products : |
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Exports : |
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Products : |
Steel die sets, guide elements |
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Countries : |
Germany |
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Imports : |
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Products : |
Gas Springs, Punches |
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Countries : |
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Terms : |
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Selling : |
Cash and Credit |
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Purchasing : |
Cash and Credit |
GENERAL INFORMATION
|
Suppliers : |
Gestamp |
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Customers : |
End Users
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No. of Employees : |
40 (Approximately) |
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Bankers : |
Bank of Maharashtra, Chakan, Maharashtra, India |
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Facilities : |
(Rs.
In Millions)
|
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Banking Relations
: |
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Auditors : |
|
|
Name : |
Tikotekar Vijay Ramchandra Chartered Accountant |
|
Address : |
3, Hemant ,19, Manisha Society, Karvenagar, Pune-411052, Maharashtra, India |
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PAN No.: |
AAWPT7989B |
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|
|
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Associates : |
CIN No.: U28920MH1993PTC073630
CIN No.: U74999PN1996PTC098542 |
CAPITAL STRUCTURE
As on: 31.12.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000000 |
Equity Shares |
Rs.10/- each |
Rs.100.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
9311559 |
Equity Shares |
Rs.10/- each |
Rs.93.115
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.12.2012 |
31.12.2011 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
93.115 |
93.115 |
|
(b) Reserves & Surplus |
|
82.684 |
68.839 |
|
(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) |
|
175.799 |
161.954 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
0.133 |
0.188 |
|
(b) Deferred tax liabilities (Net) |
|
0.000 |
0.000 |
|
(c) Other long term
liabilities |
|
0.050 |
0.000 |
|
(d) long-term
provisions |
|
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
|
0.183 |
0.188 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term
borrowings |
|
19.404 |
5.976 |
|
(b) Trade payables |
|
17.464 |
12.624 |
|
(c) Other current
liabilities |
|
0.957 |
1.664 |
|
(d) Short-term
provisions |
|
2.019 |
1.633 |
|
Total Current
Liabilities (4) |
|
39.844 |
21.897 |
|
|
|
|
|
|
TOTAL |
|
215.826 |
184.039 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
34.150 |
20.913 |
|
(ii) Intangible Assets |
|
7.934 |
8.690 |
|
(iii) Capital
work-in-progress |
|
9.383 |
15.023 |
|
(iv)
Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
|
0.706 |
1.172 |
|
(d) Long-term Loan and Advances |
|
0.144 |
1.344 |
|
(e) Other
Non-current assets |
|
11.190 |
0.000 |
|
Total Non-Current
Assets |
|
63.507 |
47.142 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
0.000 |
0.000 |
|
(b) Inventories |
|
17.710 |
13.062 |
|
(c) Trade receivables |
|
25.257 |
22.596 |
|
(d) Cash and cash
equivalents |
|
58.396 |
87.939 |
|
(e) Short-term loans
and advances |
|
45.162 |
5.995 |
|
(f) Other current
assets |
|
5.794 |
7.305 |
|
Total Current Assets |
|
152.319 |
136.897 |
|
|
|
|
|
|
TOTAL |
|
215.826 |
184.039 |
|
SOURCES OF FUNDS |
|
|
31.12.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
56.307 |
|
|
2] Share Application Money |
|
|
13.951 |
|
|
3] Reserves & Surplus |
|
|
0.000 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
70.258 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
0.000 |
|
|
2] Unsecured Loans |
|
|
0.000 |
|
|
TOTAL BORROWING |
|
|
0.000 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
70.258 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
26.211 |
|
|
Capital work-in-progress |
|
|
14.036 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.000 |
|
|
DEFERREX TAX ASSETS |
|
|
0.822 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
12.551 |
|
|
Sundry Debtors |
|
|
17.509 |
|
|
Cash & Bank Balances |
|
|
7.740 |
|
|
Other Current Assets |
|
|
4.535 |
|
|
Loans & Advances |
|
|
8.075 |
|
Total
Current Assets |
|
|
50.410 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
0.000 |
|
|
Other Current Liabilities |
|
|
12.414 |
|
|
Provisions |
|
|
8.807 |
|
Total
Current Liabilities |
|
|
21.221 |
|
|
Net Current Assets |
|
|
29.189 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
70.258 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.12.2012 |
31.12.2011 |
31.12.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
|
80.200 |
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL |
126.312 |
122.750 |
80.200 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
64.195 |
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
104.659 |
96.539 |
64.195 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
(Including
Depreciation Expenses) |
26.211 |
16.005 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
|
4.362 |
3.788 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
21.653 |
21.849 |
12.217 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
8.026 |
7.450 |
3.593 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
13.627 |
14.399 |
8.624 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
28.350 |
13.951 |
5.326 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
41.977 |
28.350 |
13.951 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
29.402 |
33.391 |
21.062 |
|
|
|
Commission Earnings |
0.174 |
0.000 |
0.044 |
|
|
TOTAL EARNINGS |
29.576 |
33.391 |
21.106 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
1.46 |
1.55 |
NA |
|
|
Particulars |
|
|
31.12.2013 |
|
Sales Turnover (Approximately) |
|
|
120.000 |
|
|
|
|
|
Expected Sales (2013-2014) : Rs.150.000 Millionss
The above information has been parted by Mr. Siddharth.
KEY RATIOS
|
PARTICULARS |
|
31.12.2012 |
31.12.2011 |
31.12.2010 |
|
PAT / Total Income |
(%) |
10.79
|
11.73 |
10.75 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
10.52
|
13.02 |
15.94 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.12
|
0.13 |
0.17 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.11
|
0.04 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
3.82
|
6.25 |
2.38 |
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 |
Note: The
registered office of the company has been shifted from Plot No 1, Gat No. 107, Shri Sonai
Industrial Complex At and Post Pirangut Tal-Mulshi, Pune – 411042, Maharashtra,
India to
present address w.e.f. 01.01.2013.
SALES/ OPERATIONS:
The income from sales and other income amounted to Rs. 126.312 Millions during the year January 2012- December 2012 as compared to Rs.122.750 Millions during the year January 2011- December 2011 showing a growth of 2.93%.
FIXED ASSETS:
- Land
- Plant and equipment
- Furniture and fixtures
- Vehicles
- Office equipment
- Computer equipments
AS PER WEBSITE DETAILS
PRESS RELEASE:
GERMANY-BASED FIBRO
TO SET UP MANUFACTURING PLANT IN PUNE
Mumbai/ Pune October 14, 2011
The company is investing Rs 100.000 Millions for this facility and it is likely to be functional by Oct 2012.
Fischer-Brodbeck GmbH (FIBRO), Germany based manufacturer of standard parts for the sheet metal and moulding industry would be setting up a manufacturing unit at Chakan near Pune. The company is investing Rs 100.000 Millions for this facility and it is likely to be functional by October 2012.
Fibro GmbH has been present in the Indian market since 1996 with its authorised distributor 'Nitoo Sales' based in Pune.
Looking at the growth opportunity, the company decided to expand its operations in India and formed an Indian subsidiary Fibro India Standard Parts Private Limited in the year 2008.
"Currently, we are focusing only on standard parts and looking at only one business area at a time. Asia is the biggest market for us and in future all the major OEMs from Europe or USA will source their products at a local level. We have seven manufacturing sites across the world. This upcoming manufacturing unit reiterates our commitment to Indian market; of bringing the best class German quality products to Indian tooling and die casting industry", said Henning Klempp, director, business area standard parts, Fibro.
"We have chosen Pune for setting up the manufacturing plant due to its profile of being one of the most important automobile hubs in the country and due to presence of most of our European customers here," he added.
Sagar Jog, managing director, Fibro India said that this plant will help the company to build capacities for catering to the growing demand from the Indian auto, electronic and home appliances industry.
Apart from reducing the lead time, the company would now also be able to offer the high quality German parts at competitive pricing. The new plant will also enable Fibro to start manufacturing more types of parts in India. The company is expecting business of Rs 150.000 Millions from India market.
After this new plant becomes fully operational, Fibro would also be exploring the possibilities of exporting to Asian countries apart from sourcing the parts from here for the European markets.
The company has wholly owned subsidiaries in countries like France, USA, Canada, India Switzerland, Singapore and China. Its total revenue for the year 2010 was 90 million Euros.
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.60.59 |
|
|
1 |
Rs.92.92 |
|
Euro |
1 |
Rs.78.94 |
INFORMATION DETAILS
|
Information
Gathered by : |
PLV |
|
|
|
|
Report Prepared
by : |
RAJ |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
6 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
48 |
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.