MIRA INFORM REPORT
|
Report Date : |
02.05.2013 |
IDENTIFICATION DETAILS
|
Name : |
MANEK INVESTMENT CAST PRIVATE LIMITED |
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Registered
Office : |
S. No. 252, In Street Opposite of Field Marshal High School, Rajkot
Gondal National Highway – 8B, Village Shapar, Rajkot – 360, Gujarat |
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Country : |
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Financials (as
on) : |
31.03.2012 |
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Date of
Incorporation : |
13.02.1995 |
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Com. Reg. No.: |
04-024600 |
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Capital
Investment / Paid-up Capital : |
Rs. 4.997 Millions |
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CIN No.: [Company Identification
No.] |
U28320GJ1995PTC024600 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer and Suppliers of General Engineering Components,
Compressors and Valve Parts, Automobile Components Casting. |
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No. of Employees
: |
60 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (27) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
USD 30000 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having a moderate track record. The
profitability of the company appears to be low. However, trade relations are reported to be fair. Business is active. Payments
are reported to be slow but correct. 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) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
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. Dilipbhai |
|
Designation : |
Accounts Department |
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Contact No.: |
91-2827-252355 |
|
Date : |
02.05.2013 |
LOCATIONS
|
Registered Office/ Factory : |
S. No. 252 In Street Opposite of Field Marshal High School, Rajkot Gondal
National Highway – 8B, Village Shapar, Rajkot – 360 002, Gujarat, India |
|
Tel. No.: |
91-2827-252355 |
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Mobile No.: |
91-9227450601 / 9824225018 (Mr. Kantibhai V Ghedia) |
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Fax No.: |
91-2827-253923 / 252117 |
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E-Mail : |
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Website : |
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Area : |
1000 sq. ft. |
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Location : |
Owned |
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Tel. No.: |
(408) 505-6465 |
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Fax No.: |
(408) 366-2536 |
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E-Mail : |
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Contact Person : |
Shashi Das (Marketing Director, |
DIRECTORS
As on: 28.09.2012
|
Name : |
Mr. Govindbhai Vashrambhai Ghedia |
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Designation : |
Director |
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Address : |
4, Swashraya Society, Mavdi Plot, Rajkot – 360002, Gujarat, India |
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Date of Birth/Age : |
29.07.1961 |
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Date of Appointment : |
13.02.1995 |
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DIN No.: |
01504594 |
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Name : |
Mr. Kantilal Vashrambhai Ghedia |
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Designation : |
Director |
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Address : |
Deep Kiran, 4 – Swasray Society, Mavdi Plot, Opposite Dr. Bhagvanji
Patel, Rajkot – 360004, Gujarat, India
|
|
Date of Birth/Age : |
26.01.1964 |
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Date of Appointment : |
13.02.1995 |
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DIN No.: |
01504611 |
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Name : |
Mr. Kaushik Ranchhodbhai Ghedia |
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Designation : |
Director |
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Address : |
Shri Baba Randev Krupa, 4, Chitrakutdham Society, Akshar Marg, Rajot –
360002, Gujarat, India |
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Date of Birth/Age : |
26.09.1978 |
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Date of Appointment : |
15.11.2008 |
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DIN No.: |
02197033 |
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Name : |
Mr. Ronak Govindbhai Ghedia |
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Designation : |
Director |
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Address : |
DIP Kiran, 4, Swashray Society, Rajkot – 360004, Gujarat, India |
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Date of Birth/Age : |
01.07.1990 |
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Date of Appointment : |
17.08.2012 |
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DIN No.: |
05356781 |
KEY EXECUTIVES
|
Name : |
Mr. Dilipbhai |
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Designation : |
Accounts Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 28.09.2012
|
Names of Shareholders |
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No. of Shares |
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Muljibhai Vasrambhai Ghedia |
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62010 |
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Govindbhai Vasrambhai Ghedia |
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123510 |
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Kantilal Vasrambhai Ghedia |
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92010 |
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Vasrambhai Punjabhai Ghedia |
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50000 |
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Bhavnaben Narendrabhai Doshi |
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3900 |
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Aanadubhai Panchanaji Jadeja |
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3000 |
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Hajabhai Bhimabhai Pankhania |
|
5000 |
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Meenaben Muljibhai Ghedia |
|
1500 |
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Meenaben Yogeshbhai Chitroda |
|
1900 |
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Rekhaben Dayabhai Ghedia |
|
3500 |
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Shamjibhai Vasrambhai Ghedia |
|
4000 |
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Shardaben Shamjibhai Chavada |
|
1800 |
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Urmilaben Rajubhai Visavadia |
|
1800 |
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Veljibhai KalabhaiLathia |
|
1900 |
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Yogesbhai Devjibhai Chitroda |
|
1900 |
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Bhanubhai Jaljibhai Mistri |
|
1800 |
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Geetaben Laljibhai Devalia |
|
1800 |
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Dineshbhai Muvjibhai Jethwa |
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1800 |
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Sagunaben Givindbhai Ghedia |
|
110600 |
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Nitaben Kantilal Ghedia |
|
26000 |
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Total |
|
499730 |
Equity Share Break up (Percentage of Total Equity)
As on: 28.09.2012
|
Category |
Percentage |
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Directors or relatives of Directors |
100.00 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Suppliers of General Engineering Components,
Compressors and Valve Parts, Automobile Components Casting. |
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Exports : |
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Products : |
Finished Goods |
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Countries : |
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Terms : |
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Selling : |
L/C, Cash and Credit |
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Purchasing : |
Cash and Credit |
GENERAL INFORMATION
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Suppliers : |
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Customers : |
Wholesalers, End Users and OEM’s
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No. of Employees : |
60 (Approximately) |
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Bankers : |
Tel No.: 91-2821-220085 |
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Facilities : |
(Rs.
In Millions)
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Rajesh Sowda and Associates Chartered Accountants |
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Address : |
Rajkot, Gujarat, India |
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Name : |
R. Harsoda and Company Chartered Accountants |
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Address : |
206/207 Arthik Bhavan, Near Bombay Garage Petrolpupm, Gondal Road,
Rajkot – 360002, Gujarat, India |
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PAN.: |
ACIPH0536L |
CAPITAL STRUCTURE
As on: 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
|
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|
1100000 |
Equity Shares |
Rs.10/- each |
Rs. 11.000 Millions |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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|
499730 |
Equity Shares |
Rs.10/- each |
Rs. 4.997
Millions |
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Statement showing
Reconciliation of Share Capital
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Particulars |
As At 31st March, 2012 |
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No. of Shares |
Amount |
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a) Equity Share
Capita! |
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At the Beginning of the year |
239730 |
2.397 |
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Add : Shares issued during the year |
260000 |
2.600 |
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At the End of the
year |
499730 |
4.997 |
Statement showing
shareholders holding more than 5 per cent shares in the company as at
31.03.2012
a) Equity Share
Capital
|
Name of Shareholder |
As At 31st March,
2012 |
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|
No. of Shares |
% of Holding |
|
Muljibhai Vasrambhai Ghedia |
62,010 |
12.41% |
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Vasrambhai Punjabhai Ghedia |
50,000 |
10.01% |
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Govindbhai Vasrambhai Ghedia |
123,510 |
24.72% |
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Kantilal Vasrambhai Ghdeia |
92,010 |
18.41% |
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Sagunaben Govindbhai Ghedia |
110,600 |
22.13% |
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Nitaben Kantilal Ghedia |
26,000 |
5.20% |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
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SHAREHOLDERS FUNDS |
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|
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|
4.997 |
2.397 |
2.397 |
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2] Share
Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves
& Surplus |
3.541 |
3.342 |
3.374 |
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4] (Accumulated
Losses) |
0.000 |
0.000 |
(0.659) |
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NETWORTH |
8.538 |
5.739 |
5.112 |
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LOAN FUNDS |
|
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1] Secured Loans |
15.404 |
8.581 |
9.035 |
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2] Unsecured Loans |
3.948 |
8.076 |
6.553 |
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TOTAL BORROWING |
19.352 |
16.657 |
15.588 |
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DEFERRED TAX LIABILITIES |
0.340 |
0.139 |
0.164 |
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TOTAL |
28.230 |
22.535 |
20.864 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
7.890 |
7.997 |
8.955 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.070 |
0.438 |
0.364 |
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DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
17.132
|
11.786
|
11.066
|
|
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Sundry Debtors |
7.519
|
8.568
|
9.934
|
|
|
Cash & Bank Balances |
0.435
|
0.669
|
0.127
|
|
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Other Current Assets |
1.042
|
0.590
|
0.000
|
|
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Loans & Advances |
5.672
|
2.656
|
1.080
|
|
Total
Current Assets |
31.800
|
24.269
|
22.207
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
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Sundry Creditors |
8.813
|
7.919
|
9.677
|
|
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Other Current Liabilities |
1.559
|
1.137
|
0.287
|
|
|
Provisions |
1.158
|
1.113
|
0.698
|
|
Total
Current Liabilities |
11.530
|
10.169
|
10.662
|
|
|
Net Current Assets |
20.270
|
14.100
|
11.545
|
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
28.230 |
22.535 |
20.864 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
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SALES |
|
|
|
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|
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Income |
43.355 |
41.935 |
35.808 |
|
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Other Income |
4.714 |
0.905 |
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|
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TOTAL (A) |
48.069 |
42.840 |
35.808 |
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Less |
EXPENSES |
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Office Expenses |
|
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|
|
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|
Administrative Expenses |
44.195 |
39.654 |
32.901 |
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Advertising Expenses |
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TOTAL (B) |
44.195 |
39.654 |
32.901 |
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Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
3.874 |
3.186 |
2.907 |
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Less |
INTEREST (D) |
2.152 |
1.739 |
1.477 |
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PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
1.722 |
1.447 |
1.430 |
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Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
1.150 |
1.187 |
1.340 |
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PROFIT/LOSS
BEFORE TAX (E-F) (G) |
0.572 |
0.260 |
0.090 |
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Less |
TAX (H) |
0.373 |
0.112 |
0.109 |
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PROFIT/LOSS
AFTER TAX (G-H)
(I) |
0.199 |
0.148 |
(0.019) |
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EARNINGS IN
FOREIGN CURRENCY |
0.018 |
134.039 |
0.403 |
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|
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|
|
|
|
|
Earnings Per
Share (Rs.) |
0.39 |
0.62 |
(0.08) |
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KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
0.41
|
0.35 |
(0.05) |
|
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|
|
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Net Profit Margin (PBT/Sales) |
(%) |
1.32
|
0.62 |
NA |
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Return on Total Assets (PBT/Total Assets} |
(%) |
1.44
|
0.81 |
0.29 |
|
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|
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Return on Investment (ROI) (PBT/Networth) |
|
0.07
|
0.05 |
0.02 |
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|
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Debt Equity Ratio (Total Debt /Networth) |
|
2.27
|
2.90 |
3.05 |
|
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|
|
|
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Current Ratio (Current Asset/Current Liability) |
|
2.76
|
2.38 |
2.08 |
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 |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister concerns |
No |
|
17] |
Major suppliers |
Yes |
|
18] |
Major customers |
Yes |
|
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 |
REVIEW OF OPERATION:
The Board of Directors would like to inform the members that during the year, the company has achieved sales turnover of Rs. 43.355 Millions as compared to overall sales of Rs. 41.935 Millions of previous year, resulting in fair increase in sales turnover. Likewise, profit before depreciation, interest and provision for taxation was Rs.3.874 Millions as compared to Rs. 3.186 Millions of previous year. Net profit after taxation was Rs.0.199 Million. The directors expect further increase in sales and profitability of the company in the year to come.
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate
identity number of the company |
U28320GJ1995PTC024600 |
|
Name of the
company |
MANEK INVESTMENT CAST PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
S. No. 252 In Street Opposite of Field Marshal High School, Rajkot
Gondal National Highway – 8B, Village Shapar, Rajkot – 360 002, Gujarat,
India |
|
This form is for |
Modification of charge |
|
Charge
identification (ID) number of the charge to be modified |
10385375 |
|
Type of charge |
Immovable property |
|
Particular of
charge holder |
Dena Bank, Jagnath Plot Branch, Dr. Yagnik Road, Rajkot - 360001, Gujarat, India |
|
Nature of
instrument creating charge |
Instrument Relating
to Deposit of Title Deeds. |
|
Date of
instrument Creating the charge |
06.10.2012 |
|
Amount secured by
the charge |
Rs. 33.900
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest CC: BR (10.45) +
2.65, the present rate being 13.10% p.a. TL: BR (10.45) +
2.65 + 0.50 (TP), the present rate being 13.60% p.a., both with monthly rests
along with interest tax as applicable. Terms of Repayment Cash Credit : On
Demand Term Loan: Rs.
8.900 Millions to be repaid in 60 monthly installments of Rs. 0.148 Million
each (fraction amount to be adjusted in last installment), plus interest
starting from after 6 month of 1st disbursement or from April 2013 whichever
is earlier, with considering 6 month as a moratorium period. Monthly Interest
to be service as and when due or debit. Margin CC : 25% Stock,
50% Book Debts. TL: 25% Extent and Operation of the charge The Charge shall
remain in operation till full repayment of all outstanding dues to the bank
with interest, or if any other charges covered under the total finance of Rs.
33.900 Millions granted by the Bank to the borrower. Others Nature of
Facility: (Rs. in
Millions) 01. Cash
Credit. 25.000 (Hyp. Stock Cum
Book Debts) 02. Term
Loan
8.900 [Plant and Machinery] Total
33.900 |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
1. Industrial Shed situated at Plot No.1 2 and 3 total land admeasuring 3080.46 of Revenue Survey No.252 paiki of Village Shaper, Tal. Kotda Sangani, District Rajkot. 2. Industrial Shed situated at Plot No.6 land admeasuring 1552.84 of Revenue Survey No.252 paiki of Village Shaper, Tal. Kotda Sangani, District Rajkot. |
|
Particulars of
the present modification |
Total financial
facility of Rs. 33.900 Millions granted by the Bank and Regd. with ROC,
Gujarat, now additionally secured by immovable properties situated at [1] Industrial Shed situated at
Plot No.1 2 and 3 total land admeasuring 3080.46 of Revenue Survey No.252
paiki of Village Shaper, Tal. Kotda
Sangani, Dist. Rajkot. AND [2] Industrial Shed situated at Plot No.6 land
admeasuring 1552.84 of Revenue Survey No.252 paiki of Village Shaper, Tal. Kotda Sangani,
District Rajkot. |
UNSECURED LOAN
(Rs in Millions)
|
Particular |
As
on 31.03.2012 |
As
on 31.03.2011 |
|
Loans From Directors and Shareholders' Relatives |
3.948 |
8.076 |
|
Total |
3.948 |
8.076 |
FIXED ASSETS
·
Factory Shed
·
Factory Land
·
Plant and Machinery
·
Office Equipments
·
Furniture
·
Computer and Printer
·
Vehicles
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. 54.22 |
|
|
1 |
Rs. 84.00 |
|
Euro |
1 |
Rs. 70.98 |
INFORMATION DETAILS
|
Information
Gathered by : |
PLK |
|
|
|
|
Report Prepared
by : |
UDS |
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 |
YES |
|
--AFFILIATION |
YES/NO |
NO |
|
--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.