|
Report Date : |
04.03.2013 |
IDENTIFICATION DETAILS
|
Name : |
NUMET CHEMICALS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Harsora Centre, Dr. Hakimwadi, Beside Super Cinema, Grant Road, Mumbai
– 400007, Maharashtra |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
04.10.1995 |
|
|
|
|
Com. Reg. No.: |
11-093256 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.1.000
Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24110MH1995PTC093256 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Chemicals viz. Ferric Chloride. |
|
|
|
|
No. of Employees
: |
Information declined by the management |
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 6000 |
|
|
|
|
Status : |
Small Company |
|
|
|
|
Payment Behaviour : |
Slow |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a small company in its field. Its scale of activities are
limited. There appears some appears recorded by company. However, trade relations are reported to be fair. Business is active.
Payments are 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.
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-Cooperative.
Tel No.: 91-22-65953911
LOCATIONS
|
Registered/ Mumbai Office : |
Harsora Centre, Dr. Hakimwadi, Beside Super Cinema, Grant Road, Mumbai
– 400007, Maharashtra, India |
|
Tel. No.: |
91-22-65953911/ 12/ 13/ 23078165 |
|
Fax No.: |
91-22-23009656/ 23062911 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Factory : |
37, GIDC, Vapi, District Bulsar, Gujarat, India |
|
Tel. No.: |
91-260-3298444 |
|
Fax No.: |
91-260-2432489 |
DIRECTORS
(AS ON 28.09.2012)
|
Name : |
Mr. Pradeep Narottam Hardora |
|
Designation : |
Director |
|
Address : |
41, Summer Ville, Bhulabhai Desai Road, Mahalaxmi, Mumbai – 400026,
Maharashtra, India |
|
Date of Birth/Age : |
25.07.1963 |
|
Date of Appointment : |
04.10.1995 |
|
DIN No.: |
00445599 |
|
|
|
|
Name : |
Mr. Prashant Indravadan Parekh |
|
Designation : |
Director |
|
Address : |
3, Ruchi Apartment, Chiku Wadi Road, Shimpoli Village, Borivali
(West), Mumbai – 400092, Maharashtra, India |
|
Date of Birth/Age : |
13.01.1966 |
|
Date of Appointment : |
03.09.2002 |
|
DIN No.: |
00446101 |
|
|
|
|
Name : |
Mrs. Anita Narottam Harsora |
|
Designation : |
Director |
|
Address : |
41, Summer Ville, Bhulabhai Desai Road, Mahalaxmi, Mumbai – 400026,
Maharashtra, India |
|
Date of Birth/Age : |
20.01.1967 |
|
Date of Appointment : |
09.11.2002 |
|
DIN No.: |
00445825 |
|
|
|
|
Name : |
Mr. Kanaiyalal Manilal Upadhyay |
|
Designation : |
Director |
|
Address : |
Flat No.207, Cliff Building, Mohit Park, Daman Road, Vapi – 396191,
Gujarat, India |
|
Date of Birth/Age : |
24.10.1929 |
|
Date of Appointment : |
30.12.2002 |
|
DIN No.: |
02438517 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
(AS ON 28.09.2012)
|
Names of Shareholders |
|
No. of Shares |
|
|
|
|
|
Pradeep Narottam Hardora |
|
59800 |
|
Shailaben S. Shroff Joint With Shasubhai D. Shroff |
|
20000 |
|
Pradeep Narottam Hardora Joint With Meena Jain Joint With Tanya Lulla |
|
100 |
|
Pradeep Narottam Hardora Joint With Hiral P. Harsora |
|
20000 |
|
Pradeep Narottam Hardora Joint With Sunil M. Gavaskar Joint With M K Gavaskar HUF Joint With Rohan S. Gavaskar |
|
50 |
|
Pradeep Narottam Hardora Joint With Rahana Manek Joint With Vithaldas Manek Joint With Samit Wadhwani |
|
10 |
|
Pradeep Narottam Hardora Joint With Saloni Natu Joint With Piyush Gundana Joint With Dias Stella |
|
10 |
|
Pradeep Narottam Hardora Joint With Chamanlal Thakkar Joint With Mahesh Rachi Joint With Smita Rachi |
|
10 |
|
Pradeep Narottam Hardora Joint With Bhishansing Mangal Joint With Reena Agarwal Joint With Shobha Motiwala |
|
10 |
|
Pradeep Narottam Hardora Joint With Saloni Natu Joint With Piyush Gundana Joint With Dias Stella |
|
10 |
|
|
|
|
|
Total |
|
100000 |
(AS ON 30.09.2012)
Equity Shares Break – up
|
Category |
|
Percentage |
|
|
|
|
|
Directors or relatives of directors |
|
80.00 |
|
Other top fifty shareholders |
|
20.00 |
|
|
|
|
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Chemicals viz. Ferric Chloride. |
||||
|
|
|
||||
|
Products : |
|
PRODUCTION STATUS (AS ON 31.03.2012)
|
Particulars |
Unit |
Licensed Capacity |
Installed Capacity |
Actual Production |
|
|
|
|
|
|
|
Ferric Chloride: |
M. Tons |
1200 |
1200 |
-- |
|
Anhydrous |
M. Tons |
-- |
-- |
336.150 |
|
Liquid |
M. Tons |
-- |
-- |
-- |
Note: Licensed Capacity and Installed Capital are as certified by the management
and relied on by the auditors.
GENERAL INFORMATION
|
No. of Employees : |
Information declined by the management |
||||||||||||||||||
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|
||||||||||||||||||
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Bankers : |
HDFC Bank Limited |
||||||||||||||||||
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||||||||||||||||||
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Facilities : |
|
||||||||||||||||||
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Banking Relations
: |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Vimal D. Desai and Associates Chartered Accountant |
|
Address : |
4-B, Yashkamal Appartment, Tithal Road, Valsad – 396001, Gujarat,
India |
|
Tel No.: |
91-2632-248393 |
|
Fax No.: |
91-2632-222309 |
|
PAN No.: |
AAROD9262A |
|
|
|
|
Associates : |
·
Harsora Engineering Private Limited ·
Harsora Hotels Private Limited ·
N. H. Harsora Private Limited ·
Palak Investment Private Limited ·
Yogin Steel Private Limited ·
Keshar Overseas Private Limited ·
Vidyut Mercantile Private Limited ·
Pattron Hotel and Travels Private Limited ·
Harsora Brothes · Numet Hotels |
CAPITAL STRUCTURE
(AS ON 28.09.2012)
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
100000 |
Equity Shares |
Rs.10/- each |
Rs.1.000 Million |
|
10000 |
Preference Shares |
Rs.10/- each |
Rs.0.100 Million |
|
40000 |
Unclassified Shares |
Rs.10/- each |
Rs.0.400 Million |
|
|
|
|
|
|
|
Total |
|
Rs.1.500
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
100000 |
Equity Shares |
Rs.10/- each |
Rs.1.000
Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
1.000 |
1.000 |
1.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
0.551 |
0.572 |
0.575 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
1.551 |
1.572 |
1.575 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.031 |
0.099 |
|
|
2] Unsecured Loans |
3.764 |
3.828 |
4.131 |
|
|
TOTAL BORROWING |
3.764 |
3.859 |
4.230 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
5.315 |
5.431 |
5.805 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
1.325 |
1.511 |
1.677 |
|
|
Capital work-in-progress |
0.025 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
2.160 |
2.160 |
2.160 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
1.389
|
1.393 |
0.299 |
|
|
Sundry Debtors |
3.169
|
2.648 |
3.595 |
|
|
Cash & Bank Balances |
0.386
|
0.343 |
0.014 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
2.062
|
1.820 |
1.196 |
|
Total
Current Assets |
7.006
|
6.204 |
5.104 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditor |
2.761
|
2.596 |
2.005 |
|
|
Other Current Liabilities |
1.793
|
1.285 |
0.655 |
|
|
Provisions |
0.647
|
0.563 |
0.476 |
|
Total
Current Liabilities |
5.201
|
4.444 |
3.136 |
|
|
Net Current Assets |
1.805
|
1.760 |
1.968 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
5.315 |
5.431 |
5.805 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
TOTAL |
9.996 |
7.860 |
6.936 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
9.669 |
7.583 |
7.717 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
0.327 |
0.277 |
(0.781) |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
0.173 |
0.185 |
0.273 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
0.154 |
0.092 |
(1.054) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
0.187 |
0.194 |
0.205 |
|
|
|
|
|
|
|
|
|
|
Profit before
Exceptional Items |
(0.033) |
(0.102) |
0.000 |
|
|
|
|
|
|
|
|
|
|
Exceptional
Items –Expense/(Income) |
(0.012) |
(0.099) |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
(0.021) |
(0.003) |
(1.259) |
|
|
|
|
|
|
|
|
|
Less |
TAX |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
(0.021) |
(0.003) |
(1.259) |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
0.572 |
0.575 |
1.834 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
0.551 |
0.572 |
0.575 |
|
|
|
|
|
|
|
|
|
|
Earnings Per Share
(Rs.) |
(0.21) |
(0.03) |
(12.59) |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
(0.021)
|
(0.04) |
(18.15) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(0.25)
|
(0.04) |
(18.57) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.01)
|
0.00 |
(0.80) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
2.43
|
2.45 |
2.69 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.35
|
1.40 |
1.63 |
LOCAL AGENCY FURTHER INFORMATION
SUNDRY CREDITORS
DETAILS:
|
Particulars |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
(Rs. In Millions) |
||
|
|
|
|
|
|
Sundry Creditors |
2.761
|
2.596 |
2.005 |
|
|
|
|
|
|
Total |
2.761
|
2.596 |
2.005 |
|
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 |
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 |
UNSECURED LOANS
|
Particulars |
31.03.2012 |
31.03.2011 |
|
|
(Rs. In Millions) |
|
|
Loans Repayment on demand |
|
|
|
- From Banks |
0.125 |
0.163 |
|
- From Shareholders |
0.090 |
0.090 |
|
- From Intercorporate Deposits |
3.549 |
3.575 |
|
|
|
|
|
Total |
3.764 |
3.828 |
FINANCIAL RESULTS
The Sales and
other income for the year amounted to Rs.9.958 Millions and Rs.0.981 Million
respectively as compared to Rs.8.498 Millions and Rs.0.101 Million in the previous
year; which shows the increase in revenue, however at the same time total
expenditures have also been increased.
COMPANY OVERVIEW
Company (Earstwhile known as M/S Numet
Industries) has been converted in to a private limited company and its date of
incorporation is 04.10.1995. It is engaged in manufacturing of Chemicals viz.
Ferric Chloride. It is a S.S.I. Unit.
FIXED ASSETS:
· Leasehold Land
· Factory Building
· Tube Well
· Plant and Machinery
· Factory Equipment
· Laboratory Equipment
· Electrical Installation
· Furniture and Fixture
· Type Writers
· Scooter
· Motor Car
· Fax Machine
· Computers
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 : |
NIT |
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 |
YES |
|
--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 |
|
- |
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.