MIRA INFORM REPORT
|
Report Date : |
23.03.2013 |
IDENTIFICATION DETAILS
|
Name : |
AJIT INDUSTRIES PRIVATE LIMITED |
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Registered
Office : |
414/415 D Mall, 4th Floor, Netaji Subash Place, Opposite
DTC, Wazirpur , Delhi- 110034 |
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Country : |
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Financials (as
on) : |
31.03.2012 |
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Date of
Incorporation : |
19.02.1998 |
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Com. Reg. No.: |
55-092320 |
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Capital Investment
/ Paid-up Capital : |
Rs. 10.000 Millions |
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CIN No.: [Company Identification
No.] |
U33112DL1998PTC092320 |
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IEC No.: |
0598001280 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
DELA08875G |
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PAN No.: [Permanent Account No.] |
AACCA4913D |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer and Exporter of Self Adhesive Tapes, Die Cuts and
Stickers. |
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No. of Employees
: |
100 (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 430000 |
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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 satisfactory track record.
Trade relations are reported as fair. Business is active. Payments are
reported to be usually correct and as per commitments. 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 – 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 |
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Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
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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.
|
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 PARTED BY
|
Name : |
Mr. Arun Bhatt |
|
Designation : |
Sales Manager |
|
Contact No.: |
91-9811168674 |
|
Date : |
28.02.2013 |
LOCATIONS
|
Registered Office / Factory: |
414/415 D Mall, 4th Floor, Netaji Subash Place, Opposite
DTC, Delhi- 110034, India |
|
Tel. No.: |
91-11-49010101/ 49010154 |
|
Mobile No.: |
91-9811168674 (Mr. Arun Bhatt) |
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Fax No.: |
91-11-49010102 |
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E-Mail : |
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|
Website : |
DIRECTORS
AS ON 29.09.2012
|
Name : |
Mr. Ajit Kumar Gupta |
|
Designation : |
Managing Director |
|
Address : |
A-20, Panchwati Azadpur, New Delhi – 110 033, India |
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Date of Birth/Age : |
05.05.1964 |
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Date of Appointment : |
30.03.1999 |
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DIN No.: |
00019393 |
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|
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Name : |
Mr. Ashok Kumar Gupta |
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Designation : |
Director |
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Address : |
A-20, Panchwati Azadpur, |
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Date of Birth/Age : |
07.07.1961 |
|
Date of Appointment : |
20.07.2003 |
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DIN No.: |
00076235 |
KEY EXECUTIVES
|
Name : |
Mr. Arun Bhatt |
|
Designation : |
Sales Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 29.09.2012
|
Names of Shareholders |
No. of Shares |
|
Sahil Gupta |
120000 |
|
Ajit Kumar Gupta |
484450 |
|
Deepak Gupta |
333450 |
|
Ashok Kumar Gupta |
10000 |
|
Asha Gupta |
1000 |
|
Manju Rani Gupta / Anjali Gupta |
51100 |
|
TOTAL
|
1000000 |
AS ON 29.09.2012
|
Equity Shares
Break Up |
Percentage of
Holding |
|
Directors or relatives of Directors |
100.00 |
|
TOTAL |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Self Adhesive Tapes, Die Cuts and
Stickers. |
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Products : |
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Exports : |
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Countries : |
·
Malaysia ·
Brazil ·
Indonesia |
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Imports : |
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Products : |
Raw Material |
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Countries : |
·
Italy ·
Germany ·
America ·
Taiwan |
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Terms : |
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Selling : |
Cash, Credit |
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Purchasing : |
Cash, Credit |
PRODUCTION STATUS (AS ON 31.03.2011)
|
Particulars |
Unit |
31.03.2011 |
|
Production |
Rolls /Kgs /Pcs
/Sq. Mtrs /Ctns |
123011761 |
GENERAL INFORMATION
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Customers : |
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No. of Employees : |
100 (Approximately) |
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Bankers : |
·
HDFC Bank Limited, HDFC Bank House, Senapati
Bapat Marg, Lower Parel (West), Mumbai-400013, Maharashtra, India Tel No.:- 91-11-27681016 ·
State Bank of Mysore, 4101-4157 Naya Bazar, New
Delhi-110026, India |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
Virender K Jain and Company Chartered Accountant |
|
Address : |
3618/11, Sudershan Market, Chawri Bazar, Delhi – 110006, India |
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Tel. No.: |
91-11-23970376 |
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PAN No.: |
AADPJ6778M |
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Associates : |
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CAPITAL STRUCTURE
AS ON 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1000000 |
Equity Shares |
Rs.10/- each |
Rs. 10.000 Millions |
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|
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
|
|
|
|
1000000 |
Equity Shares |
Rs.10/- each |
Rs. 10.000 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 |
10.000 |
10.000 |
10.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
97.728 |
80.038 |
64.609 |
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|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
107.728 |
90.038 |
74.609 |
|
|
LOAN FUNDS |
|
|
|
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|
1] Secured Loans |
65.051 |
66.094 |
57.152 |
|
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2] Unsecured Loans |
29.009 |
10.508 |
18.772 |
|
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TOTAL BORROWING |
94.060 |
76.602 |
75.924 |
|
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DEFERRED TAX LIABILITIES |
4.869 |
4.240 |
4.087 |
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TOTAL |
206.657 |
170.880 |
154.620 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
52.446 |
39.323 |
32.283 |
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Capital work-in-progress |
0.090 |
10.892 |
0.000 |
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|
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INVESTMENT |
0.000 |
0.000 |
0.000 |
|
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DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
58.486
|
83.784
|
34.638
|
|
|
Sundry Debtors |
162.712
|
118.884
|
114.131
|
|
|
Cash & Bank Balances |
10.025
|
12.296
|
3.754
|
|
|
Other Current Assets |
23.764
|
35.553
|
0.000
|
|
|
Loans & Advances |
34.174
|
31.893
|
78.866
|
|
Total
Current Assets |
289.161
|
282.410 |
231.389 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
91.771
|
123.644
|
79.143
|
|
|
Other Current Liabilities |
24.302
|
16.488
|
18.349
|
|
|
Provisions |
18.967
|
21.613
|
11.560
|
|
Total
Current Liabilities |
135.040
|
161.745 |
109.052 |
|
|
Net Current Assets |
154.121
|
120.665
|
122.337
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
206.657 |
170.880 |
154.620 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
681.903 |
|
|
|
|
|
Other Income |
1.523 |
|
|
|
|
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TOTAL |
683.426 |
849.094 |
796.817 |
|
|
|
|
|
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|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
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|
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|
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Administrative Expenses |
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Advertising Expenses |
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TOTAL |
655.726 |
825.089 |
774.623 |
|
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|
PROFIT / (LOSS)
BEFORE TAX |
27.700 |
24.005 |
22.194 |
|
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|
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Less |
TAX |
10.000 |
8.576 |
7.993 |
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|
|
|
|
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|
|
PROFIT / (LOSS)
AFTER TAX |
17.700 |
15.429 |
14.201 |
|
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|
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|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
0.400 |
0.009 |
0.008 |
|
|
|
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|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
17.500 |
15.000 |
14.200 |
|
|
BALANCE CARRIED
TO THE B/S |
0.600 |
0.438 |
0.009 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
0.000 |
0.313 |
0.159 |
|
|
|
|
|
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|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
138.742 |
130.706 |
122.313 |
|
|
|
Trading Goods |
131.309 |
246.469 |
374.918 |
|
|
|
Capital Goods |
0.855 |
8.945 |
0.000 |
|
|
TOTAL IMPORTS |
270.906 |
386.120 |
497.231 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
17.70 |
15.43 |
14.20 |
|
Expected Sales (2012-2013) : Rs. 700.000 Millions
The above information has been parted by Mr. Arun Bhatt.
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
2.59
|
1.82 |
1.78 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
4.06
|
NA |
NA |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
8.11
|
7.46 |
8.42 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.26
|
0.27 |
0.30 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.87
|
0.85 |
1.02 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.14
|
1.75 |
2.12 |
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 |
|
Unsecured Loan |
Rs.
In Millions 31.03.2012 |
Rs.
In Millions 31.03.2011 |
|
Short Term
Borrowings |
|
|
|
From Related Parties |
28.059 |
9.298 |
|
From Banks |
0.000 |
0.260 |
|
From Others |
0.950 |
0.950 |
|
|
|
|
|
TOTAL |
29.009 |
10.508 |
NOTE
The registered
office of the company has been shifted from M-7, Aradhana Bhawan Azadpur
Commercial Complex, Azadpur, New Delhi-110 033, India to the present address.
OPERATION
During the year
the turnover achieved by the company stood at Rs. 681.900 Millions. There is a
decline in turnover which is on account of decline in sales in trading division
from Rs. 457.300 Millions to only Rs. 257.300 Millions which is due to the
reason that the management decided during the year to concentrate more on
manufacturing activity. However there is an increase in net profit before tax
which stood at Rs. 27.700 Millions as against Rs. 24.000 Millions in the
immediately preceding year. After making provisions for current tax liability
and deferred tax liability of Rs.10.000 Millions the net profit amounted to Rs.
17.700 Millions. After transfer of a sum of Rs. 17.500 Millions to general
reserve the net profit amounted to Rs.
0.200 Million Adding thereto the brought forward balance of profit of
Rs. 0.400 Million the total profit is Rs. 0.600 Million which is recommended to
carried forward.
FORM 8
|
Corporate
identity number of the company |
U33112DL1998PTC092320 |
|
Name of the
company |
AJIT INDUSTRIES PRIVATE LIMITED |
|
Address of the registered
office or of the principal place of
business in |
414/415 D Mall,
4th Floor, Netaji Subash Place, Opposite DTC, Delhi- 110034, India |
|
This form is for |
Modification of
charge |
|
Charge
identification number of the charge to be modified |
10351588 |
|
Type of charge |
|
|
Particular of
charge holder |
HDFC Bank Limited, HDFC Bank House, Senapati Bapat Marg, Lower Parel (West),
Mumbai-400013, Maharashtra, India |
|
Nature of
instrument creating charge |
a) Supplementary
Letter of Hypothecation. b) Memorandum
Recording Past Transaction of Creation of Mortgage by Delivery of Title
Deeds. (Collectively constitute
a single charge for Rs.214.272 Millions). |
|
Date of
instrument Creating the charge |
16.07.2012 |
|
Amount secured by
the charge |
Rs. 214.272
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of interest Interest at the
rate as may be communicated by the Bank from time to time. Terms of repayment On Demand. Margin As may be
stipulated by the Bank from time to time. Extent and operation of the charge (a) Hypo by way of
First Charge on Co's Stock and Book Debts, (b) The Company accorded and gave
oral consent to Bank to continue to hold and retain the title deeds (by way
of Constructive delivery), as security for repayment of Rs.214.272 Millions
together with principal, interest, liquidated damages, costs, charges and
expenses. |
|
Short particulars
of the property charged (Including location of the property) |
Stock in Trade,
consisting of raw materials, goods in process of manufacturing finished
goods, and other merchandise whatsoever being movable properties All the debts,
that is, all the book debts, outstandings, monies receivables, claims, bills,
invoice documents, contracts, guarantees, and rights Industrial
Property measuring 9 Kanal 7 Marle, comprised in No.129, Khata No.147, Killa
No.4, 18/2/2 (0-12), 19/1/2 (3-7), 19/2 (3-18), 20/1 (1-0), situated in
village Nizampur Khurd, Tehsil Kharkhoda District Sonipat. |
|
Date of
instrument modifying the charge |
12.06.2012 |
|
Particulars of
the present modification |
The charge shall
now stand increased from Rs.193.272 Millions to Rs.214.272 Millions in favour
of the Bank against the security of stocks, book debts and immovable
properties being lying and situate at village Nizampur Khurd, Tehsil
Kharkhoda, District Sonipat. |
FIXED ASSETS
- Building
- Plant and Machinery
- Electric Installation
- TV
- Generator
- Weighing Scale
- Other Equipments
- Motor Cycle
- Car
- Transformer
- Tempo
- AC
- Compressor
- Fax
- Mobile
- Three Wheeler
- Furniture
- Computer
- Cooler
- Video Conferencing
- EPBAX
- A.C
- Fan
- Geyser
- Cycle
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. 53.33 |
|
|
1 |
Rs. 82.55 |
|
Euro |
1 |
Rs. 70.10 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Report Prepared
by : |
DPT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
|
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 |
|
- |
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.