|
Report Date : |
25.03.2013 |
IDENTIFICATION DETAILS
|
Name : |
OSWAL CABLES PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
17, Purohit Ji Ka Bagh, M.I. Road, Jaipur – 302001, Rajasthan |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
06.09.1971 |
|
|
|
|
Com. Reg. No.: |
17-001375 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 7.500 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U31300RJ1971PTC001375 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
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|
|
|
Line of Business
: |
Manufacturer of Aluminium Conductors, Aluminium Wires and
Transformers. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (36) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 1180000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Unknown |
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|
|
|
Litigation : |
Clear |
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|
|
Comments : |
Subject is an established company having a moderate track record. The
latest financial are not made available with the government department. As per previous year’s record, the performance of the company seems to
be satisfactory. Trade relations are reported to be fair. Business is active. Payments
are reported to be unknown. The company can be considered for business dealings with some caution. |
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) |
|
|
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
|
Source
: CIA |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long term rating : (CRISIL) BB+ |
|
Rating Explanation |
CRISIL has suspended its rating due to lack
of information. |
|
Date |
March 2012 |
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 : |
17, Purohit Ji Ka Bagh, M.I. Road, Jaipur – 302001, Rajasthan, India |
|
Tel. No.: |
91-141-2369420/ 2373273 |
|
Fax No.: |
91-141-2374549 |
|
E-Mail : |
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|
Website : |
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|
|
|
Administrative Office : |
Gulab Niwas, M.I. Road Jaipur-302001, Rajasthan, India |
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|
|
|
Manufacturing Unit I : |
139, Industrial Area, Jhotwara, Jaipur-302001, Rajasthan, India |
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|
|
|
Manufacturing Unit II : |
Plot No. P-6/2, Industrial Development Area, Nacharam, Hyderabad,
Andhra Pradesh, India |
DIRECTORS
AS ON 29.09.2012
|
Name : |
Mr. Laxmi Chand Talera |
|
Designation : |
Director |
|
Address : |
17, Purohit Ji Ka Bagh, M.I. Road, Jaipur – 302001, Rajasthan, India |
|
Date of Appointment : |
06.09.1971 |
|
DIN No.: |
00303285 |
|
|
|
|
Name : |
Mr. Surendra Kumar Talera |
|
Designation : |
Director |
|
Address : |
17, Purohit Ji Ka Bagh, M.I. Road, Jaipur – 302001, Rajasthan, India |
|
Date of Appointment : |
16.08.1996 |
|
DIN No.: |
00303329 |
|
|
|
|
Name : |
Mr. Sagar Mal Kothari |
|
Designation : |
Director |
|
Address : |
47, Halatr Jain Mandir Road, Tehsil Beawar, Ajmer – 305901, Rajasthan,
India |
|
Date of Appointment : |
30.06.1981 |
|
DIN No.: |
02440997 |
|
|
|
|
Name : |
Mr. Puneet Talera |
|
Designation : |
Director |
|
Address : |
17, Purohit Ji Ka Bagh, M.I. Road, Jaipur – 302001, Rajasthan, India |
|
Date of Appointment : |
31.07.2009 |
|
DIN No.: |
02738075 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 29.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
Laxmi Chand Talera |
|
792 |
|
Manak Chand Talera |
|
903 |
|
Surendra Kumar Talera |
|
1125 |
|
Ugam Kanwar Talera |
|
1920 |
|
Shakuntala Talera |
|
75 |
|
Puneet Talera |
|
2025 |
|
Gaurav Talera |
|
300 |
|
Manak Chand Talera (HUF) |
|
165 |
|
Surendra Kumar Talera (HUF) |
|
195 |
|
|
|
|
|
Total |
|
7500 |
AS ON 29.09.2012
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Directors
or relatives of directors |
|
100.00 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Aluminium Conductors, Aluminium Wires and
Transformers. |
||||||
|
|
|
||||||
|
Products : |
|
PRODUCTION STATUS (AS ON 31.03.2011)
|
Particulars |
Licensed
Capacity |
Installed
Capacity |
|
Main unit for ACSR |
Not Applicable |
2951 M.T.P.A. (For
Single Shift at Jaipur) Data related to Hyderabad Branch is not assessable) |
|
Wind Power Unit |
Not Applicable |
0.46 Megawatt
(Jaiselmer) 0.60 Megawatt
(Sikar) 0.60 Megawatt
(Sangli) 1.25 Megawatt
(Pithala) 0.60 Megawatt
(Barmer) 0.60 Megawatt (Barmer)
|
|
Particulars |
Measurement |
Actual
production |
|
ALU Wire |
M.T. |
323.725 |
|
ACSR |
K.M. |
7133.426 |
|
ABC |
K.M. |
3026.596 |
|
LV/HV |
M.T. |
4.864 |
|
Transformer |
NO |
758 |
|
Steel Wire |
M.T. |
9.6 |
|
AAAC Conductor |
K.M. |
151.864 |
|
Power Cable |
M.T. |
28.288 |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
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Bankers : |
State Bank of Bikaner and Jaipur, 2nd Floor, Tambi Towers,
Sansar Chand Road, Jaipur – 302001, Rajasthan, India |
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Facilities : |
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Banking
Relations : |
-- |
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|
|
|
Auditors : |
|
|
Name : |
Kalani and Company Chartered Accountants |
|
Address : |
Shankar Ratan Chambers, S-23A, Mangal Marg, Bapu Nagar,
Jaipur –
302015, Rajasthan, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AABFK0738Q |
|
|
|
|
Joint Venture : |
Ř NEC Private
Limited Ř Nav Durga
Construction Company Ř Bhanwarlal
Birjania Ř Shivalik Telecom
Limited |
|
|
|
|
Enterprises over which KMP are able to exercise significant influences
: |
Ř Oswal Electrical
Conductors Ř Oswal Finlease
Private Limited Ř R.R. Finance |
CAPITAL STRUCTURE
AS ON 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
7,500 |
Equity Shares |
Rs. 1000/- each |
Rs. 7.500 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
7,500 |
Equity Shares |
Rs. 1000/- each |
Rs. 7.500 Millions |
|
|
|
|
|
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 |
7.500 |
7.500 |
7.500 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
288.244 |
258.964 |
138.913 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
295.744 |
266.464 |
146.413 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
235.971 |
242.028 |
191.867 |
|
|
2] Unsecured Loans |
109.670 |
91.878 |
64.273 |
|
|
TOTAL BORROWING |
345.641 |
333.906 |
256.140 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
6.845 |
1.053 |
|
|
|
|
|
|
|
|
TOTAL |
641.385 |
607.215 |
403.606 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
245.841 |
272.350 |
124.878 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.500 |
0.500 |
0.000 |
|
|
DEFERRED TAX ASSETS |
6.765 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
51.035
|
64.356 |
64.888 |
|
|
Sundry Debtors |
292.325
|
225.424 |
158.089 |
|
|
Cash & Bank Balances |
37.408
|
31.054 |
30.269 |
|
|
Other Current Assets |
127.907
|
102.013 |
61.331 |
|
|
Loans & Advances |
55.187
|
81.219 |
77.439 |
|
Total
Current Assets |
563.862
|
504.066 |
392.016 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
129.966
|
133.957 |
89.351 |
|
|
Other Current Liabilities |
44.269
|
35.343 |
23.356 |
|
|
Provisions |
1.348
|
0.401 |
0.581 |
|
Total
Current Liabilities |
175.583
|
169.701 |
113.288 |
|
|
Net Current Assets |
388.279
|
334.365 |
278.728 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
641.385 |
607.215 |
403.606 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
909.387 |
800.716 |
838.817 |
|
|
|
Other Income |
6.701 |
2.596 |
2.139 |
|
|
|
Share received from Joint Venturer in working |
(5.481) |
(2.176) |
0.446 |
|
|
|
TOTAL (A) |
910.607 |
801.136 |
841.402 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Materials |
717.566 |
590.319 |
601.521 |
|
|
|
Payment and Provision to employees |
7.493 |
6.020 |
5.856 |
|
|
|
Operating and Other Expenses |
79.259 |
108.660 |
106.927 |
|
|
|
Excise Duty |
(0.215) |
(0.192) |
(5.271) |
|
|
|
Prior period Expenses |
0.000 |
0.000 |
0.070 |
|
|
|
Share paid to Joint Venturer in Project working |
18.122 |
16.048 |
23.502 |
|
|
|
TOTAL (B) |
822.225 |
720.855 |
732.605 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
88.382 |
80.281 |
108.797 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
47.757 |
34.883 |
37.031 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
40.625 |
45.398 |
71.766 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
24.144 |
17.603 |
16.933 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
16.481 |
27.795 |
54.833 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
(13.228) |
0.476 |
6.585 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
29.709 |
27.319 |
48.248 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’
BALANCE BROUGHT FORWARD |
11.840 |
0.935 |
34.687 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
35.000 |
16.414 |
82.000 |
|
|
BALANCE CARRIED
TO THE B/S |
6.549 |
11.840 |
0.935 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
3961 |
3643 |
6433 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
3.26
|
3.41 |
5.73 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
1.81
|
3.47 |
6.54 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.04
|
3.58 |
10.61 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.06
|
0.10 |
0.12 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
1.17
|
1.25 |
1.75 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
3.21
|
2.97 |
3.46 |
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 |
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 |
No |
|
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 |
Yes |
UNSECURED LOANS
|
Unsecured Loans |
31.03.2011 |
31.03.2010 |
|
|
(Rs. In Millions) |
|
|
From Director |
21.710 |
17.388 |
|
From Members |
37.950 |
32.862 |
|
Oswal Electric Conductors (a firm in which
director is a partner in the capacity of Karta) |
50.010 |
41.628 |
|
Total |
109.670 |
91.878 |
NATURE OF
OPERATIONS:
The company operates predominately relates to the Manufacturer and
Trader of Cables and Conductors, Power Generation by Windmill, Contractor for
FRP by Electricity Companies and Contractor for Railway Work (Gadge Conversion
Program).
CONTINGENT
LIABILITIES:
(Rs.
in millions)
|
Particulars |
31.03.2011 |
31.03.2010 |
|
Guarantee and Letter of credit for which company has given Counter
Guarantee. |
415.409 |
315.741 |
|
Claims against the company not acknowledged as debts |
0.281 |
0.281 |
|
Unexecuted contracts for supply of goods |
482.556 |
226.994 |
FIXED ASSETS:
Ř Land
Ř Building
Ř Plant and
Machinery
Ř Furniture and
Fixture
Ř Office Equipment
Ř Vehicles
Ř Electric
Installation
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. 54.34 |
|
|
1 |
Rs. 82.56 |
|
Euro |
1 |
Rs. 70.10 |
INFORMATION DETAILS
|
Report Prepared
by : |
BVA |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
4 |
|
--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 |
|
DEFAULTERS |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
36 |
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.