MIRA INFORM REPORT
|
Report Date : |
20.03.2013 |
IDENTIFICATION DETAILS
|
Name : |
DWARKESH ENGINEERING WORKS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Azimganj House, 3rd Floor, 7 Camac Street, Kolkata 700 017,
West Bengal |
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Country : |
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|
|
Financials (as
on) : |
31.03.2012 |
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Date of
Incorporation : |
04.04.1990 |
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Com. Reg. No.: |
21-48770 |
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|
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Capital
Investment / Paid-up Capital : |
Rs. 7.335 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U27109WB1990PTC048770 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
CALD01394B |
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|
Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturers of Alloy and Stainless Steel Castings. |
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|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (50) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 830000 |
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|
|
|
Status : |
Satisfactory |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
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|
Comments : |
Subject is a well established company having a satisfactory track
record. Financials of the company appears to be healthy. Trade relations are
reported as decent. Business is active. Payment terms are usually correct and
as per commitment. The company can be considered normal for business 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 – June 30, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
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.
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.
LOCATIONS
|
Registered Office : |
Azimganj House, 3rd Floor, 7 Camac Street, Kolkata 700 017,
West Bengal, India |
|
Tel. No.: |
91-33-22825668 / 69 |
|
Fax No.: |
91-33-22825667 |
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E-Mail : |
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Website : |
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Factory 1 : |
Madhyamgram, District North 24 Parganas, West |
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Tel. No.: |
91-33-25383848/7396 |
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Fax No.: |
91-33-25353848/5427 |
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E-Mail : |
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|
Area : |
5000 sq. ft. |
|
Location : |
Owned |
DIRECTORS
As on 21.09.2012
|
Name : |
Ruchira Ajmera |
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Designation : |
Additional Director |
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Address : |
2, |
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Date of Birth/Age : |
02.12.1964 |
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Date of Appointment : |
03.12.2010 |
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DIN No.: |
01169826 |
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Other Directorship :
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Name : |
Mr. Sanjeev Hardeo Das Ajmera |
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Designation : |
Managing Director |
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Address : |
2, |
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Date of Birth/Age : |
08.12.1960 |
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Date of Appointment : |
11.08.1998 |
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DIN No.: |
00922803 |
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Other Directorship :
|
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Name : |
Mrs. Sarla Devi Ajmera |
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Designation : |
Director |
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Address : |
2, |
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Date of Birth/Age : |
15.08.1936 |
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Date of Appointment : |
18.03.2000 |
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DIN No.: |
00922781 |
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Other Directorship :
|
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MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 21.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
Sanjiv Ajmera |
|
590620 |
|
Sarla Devi Ajmera |
|
100 |
|
Ruchira Ajmera |
|
120000 |
|
Snjeev Ajmera (Karata of Sanjeev Kumar Vedant Kumar HUF) |
|
22800 |
|
Total |
|
733520 |
Equity Share Break up (Percentage of Total Equity)
As on 21.09.2012
|
Names of Shareholders |
|
Percentage of
Holding |
|
Directors or Relatives of Directors |
|
100.00 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturers of Alloy and Stainless Steel Castings. |
PRODUCTION STATUS AS ON 31.0.2011
|
Particulars |
Unit |
31.03.2011 |
|
Licensed Capacity |
M/T |
1200 per annum |
|
Installed Capacity |
M/T |
1200 per annum |
|
Actual Production |
M/T |
350.563 |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
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Bankers : |
Industrial Finance Branch,17, R. N. Mukherjee Road, 4th floor, Kolkata - 700001, West Bengal, India |
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Facilities : |
(Rs.
In Millions)
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
N. Banerjee and Company Chartered Accountants |
|
Address : |
196, |
CAPITAL STRUCTURE
As on 21.09.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1000000 |
Equity Shares |
Rs.10/- each |
Rs. 10.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
733520 |
Equity Shares |
Rs.10/- each |
Rs. 7.335
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 |
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
7.335 |
7.335 |
7.335 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
201.966 |
158.912 |
118.058 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
209.301 |
166.247 |
125.393 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
39.525 |
27.587 |
29.909 |
|
|
2] Unsecured Loans |
37.146 |
34.757 |
0.134 |
|
|
TOTAL BORROWING |
76.671 |
62.344 |
30.043 |
|
|
DEFERRED TAX LIABILITIES |
13.382 |
3.376 |
2.743 |
|
|
|
|
|
|
|
|
TOTAL |
299.354 |
231.967 |
158.179 |
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|
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|
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|
APPLICATION OF FUNDS |
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|
|
|
|
|
|
|
|
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|
FIXED ASSETS [Net Block] |
130.513 |
86.495 |
55.979 |
|
|
Capital work-in-progress |
0.000 |
41.100 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
35.580 |
40.931 |
48.505 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
18.657
|
14.882 |
13.168 |
|
|
Sundry Debtors |
56.972
|
45.501 |
65.606 |
|
|
Cash & Bank Balances |
94.092
|
38.729 |
25.011 |
|
|
Other Current Assets |
0.000
|
0.234 |
0.000 |
|
|
Loans & Advances |
137.914
|
107.031 |
71.460 |
|
Total
Current Assets |
307.635
|
206.377 |
175.245 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
17.432
|
|
|
|
|
Other Current Liabilities |
9.447
|
8.544 |
31.766 |
|
|
Provisions |
147.495
|
110.139 |
89.784 |
|
Total
Current Liabilities |
174.374
|
142.936 |
121.550 |
|
|
Net Current Assets |
133.261
|
63.441 |
53.695 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
299.354 |
231.967 |
158.179 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
305.444 |
268.468 |
369.292 |
|
|
|
Other Income |
26.728 |
5.452 |
10.395 |
|
|
|
TOTAL (A) |
332.172 |
273.920 |
379.687 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of material consumed |
126.832 |
115.254 |
|
|
|
|
Changes in inventories |
(0.925) |
(0.479) |
|
|
|
|
Employee benefit expense |
23.053 |
20.177 |
|
|
|
|
Other expenses |
49.857 |
49.929 |
|
|
|
|
TOTAL (B) |
198.817 |
184.881 |
253.914 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
133.355 |
89.039 |
125.773 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
3.545 |
2.070 |
2.202 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
129.810 |
86.969 |
123.571 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
14.637 |
7.963 |
7.641 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
115.173 |
79.006 |
115.930 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
72.120 |
38.452 |
39.375 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
43.053 |
40.554 |
76.555 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials and Spare Parts |
2.921 |
2.861 |
|
|
|
|
Plant and Machinery |
8.479 |
10.421 |
|
|
|
TOTAL IMPORTS |
11.400 |
13.282 |
8.965 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
58.70 |
55.20 |
104.37 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
12.96
|
14.81 |
N.A |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
37.71
|
29.43 |
31.39 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
26.29
|
26.98 |
50.14 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.55
|
0.48 |
0.92 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.37
|
0.38 |
0.24 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.76
|
1.44 |
1.44 |
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 |
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 |
No |
|
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 |
NOTE :
The registered address of the company has been shifted from 22 B R B B Road, Kolkata - 700001, West Bengal, India to the present address w.e.f 16.01.2012
UNSECURED LOAN :
|
Particulars |
As
on 31.03.2012 |
As
on 31.03.2011 |
|
Loans Repayable
On Demand |
|
|
|
From Other Parties |
37.146 |
34.757 |
|
Total |
37.146 |
34.757 |
BANKERS CHARGES
REPORT AS PER REGISTRY :
|
Corporate
identity number of the company |
U27109WB1990PTC048770 |
|
Name of the
company |
DWARKESH
ENGINEERING WORKS PRIVATE LIMITED |
|
Address of the registered
office or of the principal place of
business in |
Azimganj House, 3rd Floor, 7 Camac Street, Kolkata 700 017,
West Bengal, India |
|
This form is for |
Modification of charge |
|
Charge
identification (ID) number of the charge to be modified |
90254869 |
|
Type of charge |
|
|
Particular of
charge holder |
Industrial Finance Branch,17, R. N. Mukherjee Road, 4th
floor, Kolkata - 700001, West Bengal, India |
|
Nature of
instrument creating charge |
(1) General
Letter of Hypothecation. (2) Letter of
Mortgagor Confirming Deposit of Title Deeds. |
|
Date of instrument
Creating the charge |
09.01.2013 |
|
Amount secured by
the charge |
Rs. 60.000
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest @ 4.25% p.a. over
Allahabad Bank base rate which is at present 10.50% p.a. with monthly rests
subject to change by the bank from time to time. Terms of Repayment Repayable On
demand.. Margin As applicable. Extent and Operation of The Charge Exclusive first
charge in favour of Allahabad Bank, IFB, Kolkata-700001 Others The hypothecated
assets shall be kept at the companies risk and expense in good condition and
fully insured against loss or damage under bank clause. the hypothecated assets shall be kept at
the companies risk and expense in good condition and fully insured against
loss or damage under bank clause. |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
Hypothecation of all
the present and future products, goods and movable properties of any kind
including all movable plant and machinery etc. and stocks of Nickel,
Stainless Steel Casting, Ms Scraps Alloy steel
casting, molding chemicals etc. and other materials whether raw or in process
which now or hereafter from time to time stored or to be stored at companies
factory premises Godowns at
jessore road, madhyamgram, dist. 24 pgs(n), west bengal and hypothecation of
all present and future book debts, outstanding moneys, receivables, claims
and other current assets of the company. Equitable
mortgage of (1) All that
piece and parcel of land admeasuring 28 cottahs be the same or little more of
less and comprised in J.L. No. 44, R.S. No. 167, Touzi No. 146, Khatian No
424, 23, 426, 30, Dag No. 423, 423/691, 423/693, 423/695 situated at Mouza.
Chandnagar, p.s. and Sro. Barasat, Dist. 24 Pargamas (n), West Bengal and (2) All that
piece and parcel of land admeasuring 10
cottahs be the same or little more of less and comprised in J.L. No.
44, R.S. No. 167, Touzi No. 146, Khatian No. 174, 423, 210, Dag No. 427/697,
427 and 427/698 situated at Mouza. Chandnagar, p.s. and Sro. Barasat, Dist.
24 Pargamas (n) together with all buildings, structures, sheds etc. thereon. |
|
Date of instrument
modifying the charge |
14.08.2008 |
|
Particulars of
the present modification |
The overall
credit facilities has been reduced from Rs. 86.500 millions to Rs. 60.000
millions [C/C : Rs. 15.000 millions, PC/FBP/FBN : Rs. 25.000 millions, L/C :
Rs. 8.000 millions and b.g : Rs. 12.000 millions]. the company created
equitable mortgage of land admeasuring 28 cottahs and 10 cottahs situated at
Mouza Chandnagar, p.o. and Sro.Barasat,24 pgs(n),West Bengal togethe with
buildings, structures etc. as additional security. All other terms and
conditions remain unaltered. |
FIXED ASSETS :
- Shed and
Building
- Plant and
machinery
- Electric
Installation
- Furniture
- Tube Well
- Laboratory
Equipments
- Motor Cycle
- Motor Car
- Computer
- Office
Machinery
- Cellular
Phone
- Generator
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.54.16 |
|
|
1 |
Rs.81.74 |
|
Euro |
1 |
Rs.70.50 |
INFORMATION DETAILS
|
Report Prepared
by : |
RSMK |
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 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--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 |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
50 |
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.