MIRA
INFORM REPORT
|
Report Date : |
04.03.2013 |
IDENTIFICATION DETAILS
|
Name : |
MULTI SCREEN MEDIA PRIVATE LIMITED (w.e.f. 21.11.2007) |
|
|
|
|
Formerly Known
As : |
SET INDIA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
4th Floor, Interface, Building No.7, Off |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
18.09.1995 |
|
|
|
|
Com. Reg. No.: |
11-111487 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.91.386
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U92100MH1995PTC111487 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMS19106D |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCS1728D |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
The Company is primarily engaged in the production and acquisition of
television programmes. |
|
|
|
|
No. of Employees
: |
Information denied by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (55) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 49000000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a well established and a reputed company having a good
track record. The latest financials of the company are not made available. As
per previous year’s record, financial position of the company appears to be
sound. Trade relations are reported as fair. Business is active. Payments are
reported to be regular and as per commitments. The company can be considered good for any normal 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.
INDIAN ECONOMIC OVERVIEW
India is developing into an open-market economy, yet traces
of its past autarkic policies remain. Economic liberalization, including
industrial deregulation, privatization of state-owned enterprises, and reduced
controls on foreign trade and investment, began in the early 1990s and has
served to accelerate the country's growth, which has averaged more than 7% per
year since 1997. India's diverse economy encompasses traditional village
farming, modern agriculture, handicrafts, a wide range of modern industries,
and a multitude of services. Slightly more than half of the work force is in
agriculture, but services are the major source of economic growth, accounting
for more than half of India's output, with only one-third of its labor force.
India has capitalized on its large educated English-speaking population to
become a major exporter of information technology services and software
workers. In 2010, the Indian economy rebounded robustly from the global
financial crisis - in large part because of strong domestic demand - and growth
exceeded 8% year-on-year in real terms. However, India's economic growth in
2011 slowed because of persistently high inflation and interest rates and
little progress on economic reforms. High international crude prices have
exacerbated the government's fuel subsidy expenditures contributing to a higher
fiscal deficit, and a worsening current account deficit. Little economic reform
took place in 2011 largely due to corruption scandals that have slowed
legislative work. India's medium-term growth outlook is positive due to a young
population and corresponding low dependency ratio, healthy savings and
investment rates, and increasing integration into the global economy. India has
many long-term challenges that it has not yet fully addressed, including
widespread poverty, inadequate physical and social infrastructure, limited
non-agricultural employment opportunities, scarce access to quality basic and
higher education, and accommodating rural-to-urban migration.
|
Source
: CIA |
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
Management Non Co-operative
(91-22-67081111)
LOCATIONS
|
Registered Office : |
4th Floor, Interface, Building No.7, Off |
|
Tel. No.: |
91-22-67081111 |
|
Fax No.: |
91-22-66434748 |
|
E-Mail : |
|
|
Website: |
DIRECTORS
As on 28.12.2012
|
Name : |
Mr. Raman Hirji Maroo |
|
Designation : |
Director |
|
Address : |
21/22 A, Woodisnd 67, |
|
Date of Birth/Age : |
06.12.1950 |
|
Date of Appointment : |
23.10.1997 |
|
DIN No.: |
00169152 |
|
Name : |
Mr. Andrew Jay Kaplan |
|
Designation : |
Director |
|
Address : |
13225 Old Oak Lane, Los Angeles, California 90049 USA |
|
Date of Birth/Age : |
02.11.1960 |
|
Date of Appointment : |
25.09.2003 |
|
DIN No.: |
01532580 |
|
Name : |
Mr. Rakesh Kumar Aggarwal |
|
Designation : |
Director |
|
Address : |
25, Stevens Drive, #04-02, Singapore, 257922 |
|
Date of Birth/Age : |
02.09.1952 |
|
Date of Appointment : |
20.04.2004 |
|
DIN No.: |
01792251 |
|
Name : |
Mr. George Chien |
|
Designation : |
Director |
|
Address : |
6440 West, |
|
Date of Birth/Age : |
09.07.1972 |
|
Date of Appointment : |
30.11.2010 |
|
DIN No.: |
03101431 |
KEY EXECUTIVES
|
Name : |
Mr. Rajkumar Shyamlal Bidawatka |
|
Designation : |
Company Secretary |
|
Address : |
C 302, D Plot, |
|
Date of Birth/Age : |
10.05.1968 |
|
Date of Appointment : |
19.07.2007 |
|
PAN No.: |
AAIPB4224H |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 28.12.2012
|
Names of Shareholders |
|
No. of Shares |
|
SPE Mauritius Holdings Limited, |
|
3837925 |
|
SPE Mauritius investments Limited, |
|
1827716 |
|
Atlas Equifin Private Limited, |
|
1106829 |
|
Emerging Markets Growth Fund Inc.(India Sub Custody), India |
|
106250 |
|
Capital International Emerging Markets |
|
18750 |
|
The New Economy |
|
31400 |
|
American Funds Insurance Series International |
|
32200 |
|
American Funds Insurance Series Global |
|
6400 |
|
Grand way Global Holdings Limited, |
|
1853531 |
|
Emerging Markets Growth Fund Inc. (India Sub Custody), India |
|
177945 |
|
Capital International Emerging, Markets |
|
31402 |
|
The New Economy |
|
48466 |
|
American Fund Insurance Series International |
|
50017 |
|
American Funds Insurance Series Global |
|
9748 |
|
Total
|
|
9138579 |
As on 30.09.2011
Equity Share Break up (Percentage of Total Equity)
|
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 |
87.89 |
|
Bodies corporate |
12.11 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
The Company is primarily engaged in the production and acquisition of
television programmes. |
|
|
|
|
Products/ Services : |
|
PRODUCTION STATUS
As on 31.03.2010
Licensed and
Installed capacity
The Company is
primarily engaged in the production and acquisition of television programmes. The
Company is not subject to licensing requirements and, due to the nature of the
business; it is not possible to determine installed capacity.
Production:
|
Particulars |
Unit |
31.03.2010 |
|
In-house production |
Number of
episodes |
28 |
GENERAL INFORMATION
|
No. of Employees : |
Information denied by the management |
||||||||||||
|
|
|
||||||||||||
|
Bankers : |
Not Divulged |
||||||||||||
|
|
|
||||||||||||
|
Facilities : |
Note : (A) Payable within 1 year Rs.593.000 Millions (B) Payable within 1 year Rs.1595.650 Millions |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Price Waterhouse Chartered Accountants |
|
Address : |
252, Veer Savarkar Marg, |
|
|
|
|
Subsidiaries : |
|
|
|
|
|
Related Parties |
|
CAPITAL STRUCTURE
As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
50000000 |
Equity Shares |
Rs.10/- each |
Rs.500.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
9138579 |
Equity Shares |
Rs.10/- each |
Rs.91.386
Millions |
|
|
|
|
|
(A) 9,138,579 (Previous
Year 9,138,579) Equity Shares of Rs.10 each fully paid up (Of the above shares,
999,980 Equity Shares were issued partly for cash and partly for consideration
other than cash) (Of the above shares, 4,177,924 Equity Shares were issued as
fully paid up pursuant to investments in Equity Shares of MSM Satellite
(Singapore) Pte Limited (subsidiary company) without payments being received in
cash)
(B) 9,138,579
(Previous Year 9,138,579) Equity Shares of Rs.10 each fully paid up (Of the above
shares, 999,980 Equity Shares were issued partly for cash and partly for
consideration other than cash) (Of the above shares, 4,177,924 Equity Shares
were issued as fully paid up pursuant to investments in Equity Shares of MSM
Satellite (Singapore) Pte Limited (subsidiary company) without payments being
received in cash)
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
91.386 |
91.386 |
91.386 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
12036.450 |
11785.098 |
11471.017 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
12127.836 |
11876.484 |
11562.403 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
593.060 |
1595.650 |
2030.200 |
|
|
TOTAL BORROWING |
593.060 |
1595.650 |
2030.200 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
12720.896 |
13472.134 |
13592.603 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
114.835 |
119.576 |
191.555 |
|
|
Capital work-in-progress |
124.939 |
8.461 |
17.620 |
|
|
|
|
|
|
|
|
INVESTMENT |
8155.203 |
8155.203 |
8155.203 |
|
|
DEFERREX TAX ASSETS |
189.613 |
282.800 |
196.116 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
20.138
|
107.525
|
167.813 |
|
|
Sundry Debtors |
8480.141
|
7272.191
|
6986.955 |
|
|
Cash & Bank Balances |
449.957
|
217.840
|
956.993 |
|
|
Other Current Assets |
0.000
|
0.000
|
0.000 |
|
|
Loans & Advances |
784.384
|
755.112
|
622.185 |
|
Total
Current Assets |
9734.620
|
8352.668
|
8733.946 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
5127.515
|
2929.764
|
2137.672 |
|
|
Other Current Liabilities |
341.907
|
422.893
|
1501.691 |
|
|
Provisions |
128.892
|
93.917
|
62.474 |
|
Total
Current Liabilities |
5598.314
|
3446.574
|
3701.837 |
|
|
Net Current Assets |
4136.306
|
4906.094
|
5032.109 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
12720.896 |
13472.134 |
13592.603 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
|
|
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL |
11610.682 |
12479.261 |
10853.609 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
10493.535 |
11926.054 |
10257.302 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
1117.147 |
553.207 |
596.307 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
80.365 |
106.133 |
113.391 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
1197.512 |
447.074 |
482.916 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
946.159 |
132.993 |
306.691 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
251.353 |
314.081 |
176.225 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
1935.661 |
1621.580 |
1445.355 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
2187.014 |
1935.661 |
1621.580 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
FOB value of exports of programs |
|
6143.136 |
5403.508 |
|
|
|
Service income |
|
764.906 |
717.557 |
|
|
|
Service fee |
|
511.550 |
3.325 |
|
|
TOTAL EARNINGS |
11322.639 |
7419.592 |
6124.390 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Capital Goods |
NA |
NIL |
4.738 |
|
|
TOTAL IMPORTS |
NA |
NIL
|
4.738 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
27.50 |
34.37 |
21.90 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
2.16
|
2.52
|
1.62 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
12.16
|
5.28
|
5.41 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.10
|
0.04
|
0.04 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.51
|
0.42
|
0.50 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.74
|
2.42
|
2.36 |
LOCAL AGENCY FURTHER INFORMATION
DETAILS OF SUNDRY CREDITORS:
|
Particulars |
31.03.2011 (Rs. in millions) |
31.03.2010 (Rs. in millions) |
31.03.2009 (Rs. in millions) |
|
Sundry Creditors |
|
|
|
|
Micro, Small and
Medium Enterprises |
0.980 |
0.288 |
0.775 |
|
Others |
5126.535 |
2929.476 |
2136.897 |
|
Total |
5127.515 |
2929.764 |
2137.672 |
Notes:
(A) Sundry Creditors
includes: -Due to MSM Satellite (Singapore) Pte. Limited (Subsidiary Company)
Rs. 2570.747 Millions -Due to MSM Discovery Private Limited (Subsidiary
Company) Rs. 215.897 Millions
(B) Sundry
Creditors includes: -Due to MSM Satellite (Singapore) Pte. Limited (Subsidiary
Company) Rs. 1134.292 Millions -Due to
MSM Discovery Private Limited (Subsidiary Company) Rs. 106.945 Millions
|
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 |
No |
|
10] |
Designation of contact
person |
No |
|
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 |
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 |
No |
|
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 |
OPERATION:
During its Sixteenth
year of operations in the financial year 2010-11, the Company recorded a
turnover of Rs. 11610.682 Millions as compared to Rs. 12479.261 Millions during
the previous year. Net profit after tax was Rs. 251.353 Millions for the year
as against a net profit after tax of Rs. 314.081 Millions in the previous year.
CONTINGENT LIABILITY:
CONTINGENT LIABILITIES NOT PROVIDED FOR IN RESPECT OF:
|
Particulars |
31.03.2010 (Rs. in millions) |
|
Claims against the Company not acknowledge
as debts |
17.905 |
|
Income Tax Matters |
435.103 |
|
Sales Tax Matters |
262.820 |
|
Total |
715.828 |
Note:
Future cash flow in respect of above, if any,
is determinable only on receipt of judgments/ decisions pending with the relevant
authorities.
FIXED ASSETS:
- Computer Software
- Leasehold Improvements
- Plant and Machinery
- Motor Vehicle
- Furniture and Fixture
- Office Equipments
- Computer
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.54.48 |
|
|
1 |
Rs.82.72 |
|
Euro |
1 |
Rs.71.27 |
INFORMATION DETAILS
|
Information
Gathered by : |
PDT |
|
|
|
|
Report Prepared
by : |
BSN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
8 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
8 |
|
--RESERVES |
1~10 |
8 |
|
--CREDIT LINES |
1~10 |
8 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
55 |
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.