MIRA INFORM REPORT
|
Report Date : |
28.03.2013 |
IDENTIFICATION DETAILS
|
Name : |
K L J
POLYMERS AND CHEMICALS LIMITED |
|
|
|
|
Registered
Office : |
KLJ House, 63, Rama Marg, Najafgarh Road, New Delhi –
110015 |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
10.07.1989 |
|
|
|
|
Com. Reg. No.: |
55-036883 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.36.000
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24119DL1989PLC036883 |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Phthalate Plasticizers. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (52) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 3530000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a part of KLJ Group. It is a well established and reputed company having a good track record.
There appears sharp dip in profitability during the current year. However, general financial position of the company seems to be strong.
The subject gets good support from its group companies. Trade relations are reported to be fair. Business is active. Payments
are reported to be regular and as per commitments. The company can be considered for normal business dealings at usual
trade terms and condition. |
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.
|
Source
: CIA |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
A [Long Term] |
|
Rating Explanation |
Having adequate degree of safety regarding timely servicing of
financial obligation it carry low credit risk. |
|
Date |
06.12.2012 |
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 / Head Office / Factory 1 : |
KLJ House, 63, Rama Marg, Najafgarh Road, New Delhi –
110015, India |
|
Tel. No.: |
91-11-25459706/ 07/ 08/ 41427427/ 29 |
|
Fax No.: |
91-11-25459709/ 25436264 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Factory 2 : |
KPC Main, Survey
No. 57/2 (4-5), Kunta Road, Bhenslore, Dunetha Villate, Nani – Daman – 396210
(Union Territory of Daman and Diu), India |
|
|
|
|
Factory 3 : |
Survey No. 57/2
(2) Bhenslore, Dunetha Villate, Nani – Daman – 396210 ( |
|
|
|
|
Factory 4 : |
Survey No. 177,
Jamal Pada Road, Village Silli, Sillage Silli, Silvassa – 396230, (Union Territory
of Dadra and Nagar Haveli), India |
|
|
|
|
Sales Office : |
102-107, Hotel Ashoka, 50B, Diplomatic Enclave, Chanakaya
Puri, |
|
Tel. No.: |
91-11-24122880-86 |
|
Fax No.: |
91-11-24122887 |
|
E-Mail : |
|
|
|
|
|
Overseas
Office: |
5, SOIG-4,
Pakornsongkhoraj Road, Tambon, Huaypong, Amphur, Muangrayong, Rayong
-21150, Thailand |
|
Tel. No.: |
66-38-693219 |
|
Fax No.: |
66-38-693220 |
|
E-Mail : |
|
|
|
|
|
Branch Office
: |
Located at: ·
Mumbai
·
Kolkata
·
Chennai
|
DIRECTORS
AS ON 29.09.2012
|
Name : |
Mr. Kanhaiya Lal
Jain |
|
Designation : |
Chairman |
|
Address : |
K-71, Kirti
Nagar, |
|
Date of Birth/Age : |
06.04.1946 |
|
Qualification : |
Graduate |
|
Date of Appointment : |
30.09.1995 |
|
DIN No.: |
00033519 |
|
|
|
|
Name : |
Mr. Hemant Jain |
|
Designation : |
Director |
|
Address : |
6 B/9 Nea, Old
Rajinder Nagar, |
|
Date of Birth/Age : |
18.08.1971 |
|
Date of Appointment : |
25.09.1989 |
|
DIN No.: |
00506995 |
|
|
|
|
Name : |
Mr. Kamal Jain |
|
Designation : |
Managing Director |
|
Address : |
6 B/9 Nea, Old
Rajinder Nagar, |
|
Date of Birth/Age : |
08.04.1973 |
|
Qualification : |
MBA - Marketing |
|
Date of Appointment : |
29.09.2011 |
|
DIN No.: |
00033355 |
|
|
|
|
Name : |
Mr.
Mangi Lal Sethia |
|
Designation : |
Director |
|
Address : |
132, Savita
Vihar, |
|
Date of Birth/Age : |
26.06.1954 |
|
Qualification : |
Graduate |
|
Date of Appointment : |
10.07.1989 |
|
DIN No.: |
00061726 |
|
|
|
|
Name : |
Mr. Jitendra
Kumar Began |
|
Designation : |
Director |
|
Address : |
KLJ House, B-63,
Rama Road, Kirti Nagar, New Delhi-110015, India |
|
Date of Birth/Age : |
27.02.1978 |
|
Date of Appointment : |
09.05.2012 |
|
DIN No.: |
02095292 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 29.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
Kanhaiya Lal Jain
|
|
660240 |
|
Sonali Jain |
|
50000 |
|
Sushila Patawari |
|
399040 |
|
Hemant Jain |
|
684000 |
|
Kamal Jain |
|
714000 |
|
Pushp Jain |
|
718000 |
|
Dilip Singh |
|
240 |
|
Surana Mal Hulas |
|
240 |
|
Mangi Lal Sethia |
|
240 |
|
Kanhaiya Lal Jain
and Sons (HUF) |
|
250000 |
|
Neetu Jain |
|
50000 |
|
Namrata Jain |
|
50000 |
|
Kinetic Impex
Limited, |
|
24000 |
|
TOTAL
|
|
3600000 |
AS ON 29.09.2012
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Bodies
corporate |
|
0.67 |
|
Directors
or relatives of directors |
|
99.32 |
|
Other
|
|
0.01 |
|
TOTAL |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Phthalate Plasticizers. |
||||||||||||
|
|
|
||||||||||||
|
Products : |
|
PRODUCTION STATUS [AS ON 31.03.2012]
|
Particulars |
Unit |
Actual
Production |
|
Physical Term |
MT/PA |
57751.730 |
NOTE:
- The Company has two units – major manufacturing operations of the
Company are located at Silvassa. The manufacturing Unit-II at Silvassa
(U.T. of Dadra and Nagar Haveli) for manufacture of Polymer Compounds has
a state of art equipments, R and D centre, a well equipped laboratory. The
consolidated installed capacity of the Company is 106000 MT as on
31/03/2012.
- The unit called main Unit at Daman is
doing Job Work and Unit-I also at Daman is closed in the financial year
2010-11.
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
|||||||||||||||
|
|
|
|||||||||||||||
|
Bankers : |
|
|||||||||||||||
|
|
|
|||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Mohit
Parekh and Company Chartered
Accountants. |
|
Address : |
572,
Second Floor, Gandhi Cloth Market, Chandni Chowk, |
|
Tel. No.: |
91-11-23918093 /
23958433 |
|
E-Mail : |
|
|
PAN No: |
AAHPP2532M |
|
|
|
|
Associates : |
|
CAPITAL STRUCTURE
AS ON 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
6000000 |
Equity Shares |
Rs.10/- each |
Rs.60.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
3600000 |
Equity Shares |
Rs.10/- each
|
Rs.36.000
Millions |
|
|
|
|
|
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 |
36.000 |
36.000 |
36.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
847.450 |
806.862 |
642.915 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
883.450 |
842.862 |
678.915 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
755.207 |
524.204 |
279.359 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
50.611 |
|
|
TOTAL BORROWING |
755.207 |
524.204 |
329.970 |
|
|
DEFERRED TAX LIABILITIES |
5.734 |
4.853 |
3.515 |
|
|
|
|
|
|
|
|
TOTAL |
1644.391 |
1371.919 |
1012.400 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
431.380 |
323.955 |
148.589 |
|
|
Capital work-in-progress |
194.667 |
23.114 |
54.609 |
|
|
|
|
|
|
|
|
INVESTMENT |
9.005 |
1.505 |
1.499 |
|
|
DEFERRED TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
900.753
|
1026.540 |
663.677
|
|
|
Sundry Debtors |
909.513
|
725.209 |
392.230
|
|
|
Cash & Bank Balances |
108.749
|
54.008 |
40.984
|
|
|
Other Current Assets |
5.282
|
1.173 |
54.480
|
|
|
Loans & Advances |
262.130
|
236.024 |
131.720
|
|
Total
Current Assets |
2186.427
|
2042.954 |
1283.091 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
864.185
|
716.561 |
454.150
|
|
|
Other Current Liabilities |
210.163
|
228.272 |
0.000
|
|
|
Provisions |
102.740
|
74.776 |
21.238
|
|
Total
Current Liabilities |
1177.088
|
1019.609 |
475.388 |
|
|
Net Current Assets |
1009.339
|
1023.345 |
807.703 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
1644.391 |
1371.919 |
1012.400 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
4491.787 |
2908.580 |
1867.285 |
|
|
|
Other Income |
21.420 |
9.110 |
28.990 |
|
|
|
TOTAL (A) |
4513.207 |
2917.690 |
1896.275 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
3556.063 |
2359.656 |
|
|
|
|
Purchases of stock-in-trade |
553.924 |
21.669 |
|
|
|
|
Employee benefit expense |
85.439 |
54.100 |
1717.531 |
|
|
|
Other expenses |
333.334 |
234.807 |
|
|
|
|
Changes in
inventories of finished goods, work-in-progress and stock-in-trade |
(222.465) |
(55.504) |
|
|
|
|
TOTAL (B) |
4306.295 |
2614.728 |
1717.531 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
206.912 |
302.962 |
178.744 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
95.511 |
58.692 |
51.027 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
111.401 |
244.270 |
127.717 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
48.227 |
25.429 |
19.402 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
63.174 |
218.841 |
108.315 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
22.586 |
54.894 |
17.847 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
40.588 |
163.947 |
90.468 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
251.513 |
121.211 |
23.919 |
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
1940.000 |
1621.503 |
956.88 |
|
|
|
Capital Goods |
170.200 |
32.433 |
17.354 |
|
|
|
Packing Materials |
146.200 |
5.635 |
0.000 |
|
|
TOTAL IMPORTS |
2256.400 |
1659.571 |
974.234 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
11.27 |
45.54 |
25.13 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
0.90
|
5.62 |
4.77 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
1.41
|
7.52 |
5.80 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.41
|
9.25 |
7.56 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.07
|
0.25 |
0.16 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.85
|
0.62 |
0.49 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.86
|
2.00 |
2.70 |
LOCAL AGENCY FURTHER INFORMATION
|
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 |
Yes |
FIXED ASSETS:
·
Building
·
Land
·
Plant and Machinery
·
Electric Fitting
·
Plant Fitting
·
Type Writers
·
Car
·
Cycle
·
Computer
·
Fans and Cooler
·
Scooter
·
Air Conditioner
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.54.27 |
|
|
1 |
Rs.82.49 |
|
Euro |
1 |
Rs.69.88 |
INFORMATION DETAILS
|
Report Prepared
by : |
SMN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
52 |
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.