MIRA INFORM REPORT
|
Report Date : |
08.05.2013 |
IDENTIFICATION DETAILS
|
Name : |
RAKSHIT DRUGS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
425/3RT, D. No. 7-1-621/328, Sanjeev Reddy Nagar, Hyderabad – 500038,
Andhra Pradesh |
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|
|
Country : |
India |
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|
Financials (as
on) : |
31.03.2012 |
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Date of
Incorporation : |
24.03.2000 |
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Com. Reg. No.: |
01-034018 |
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|
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Capital
Investment / Paid-up Capital : |
Rs. 7.483
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24230AP2000PTC034018 |
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|
|
|
Legal Form : |
Private Limited Liability Company |
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|
|
|
Line of Business
: |
Manufacturer of Integrated Active Pharmaceuticals Ingredients (API's)
and Intermediates. |
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|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 654000 |
|
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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 an established company having a satisfactory track record.
Trade relations are reported to be fair. Business is active. Payments are
reported to be usually correct and as per commitment. 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) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long term rating : (CRISIL) BB |
|
Rating Explanation |
Having moderate risk of default regarding timely
servicing of financial obligation. |
|
Date |
January 2013 |
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 : |
425/3RT, D. No. 7-1-621/328, Sanjeev Reddy Nagar, Hyderabad – 500038, Andhra
Pradesh, |
|
Tel. No.: |
91-40-23810385/ 23705066/ 55580748/ 23818158 |
|
Fax No.: |
91-40-23812709 |
|
E-Mail : |
srinivas@rakshitdrugspvtltd.com
|
|
Website : |
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|
|
|
|
Factory : |
Survey No. 10/B, Gaddapotharam Industrial Estate, Jinnaram
Mandal, Medak District, |
|
Tel. No.: |
91-8548-277026 |
|
Fax No.: |
91-8458-277094 |
DIRECTORS
AS ON 29.09.2012
|
Name : |
Mr. Rameswara Rao Anjaneya Pattabhi Chandana |
|
Designation : |
Managing director |
|
Address : |
Flat No. 302, Saraswati Apartments, B-53, Madhura Nagar, S.R Nagar,
Hyderabad – 500038, Andhra Pradesh,
India |
|
Date of Birth/Age : |
01.01.1958 |
|
Date of Appointment : |
24.03.2000 |
|
DIN No.: |
00105304 |
|
|
|
|
Name : |
Aruna Kumari Chandana |
|
Designation : |
Director |
|
Address : |
Flat No. 302, Saraswati Apartments, B-53, Madhura Nagar, S.R Nagar,
Hyderabad – 500038, Andhra Pradesh,
India |
|
Date of Birth/Age : |
01.07.1961 |
|
Date of Appointment : |
24.03.2000 |
|
DIN No.: |
00105360 |
|
|
|
|
Name : |
Mr. Avinash Shoury Chandana |
|
Designation : |
Director |
|
Address : |
H.No.8-3-191/147/9 and 16/302, Madhura Nagar, Hyderabad – 500038,
Andhra Pradesh, India |
|
Date of Birth/Age : |
31.12.1987 |
|
Date of Appointment : |
25.02.2007 |
|
DIN No.: |
01470246 |
|
|
|
|
Name : |
Mr. Srinivas Palem |
|
Designation : |
Director |
|
Address : |
No.11 to 16, 1st Floor Plot Nos. 148 to 151 Saroja Complex,
Opposite KPHB Colony, Kukatpally, Hyderabad – 500072, Andhra Pradesh, India |
|
Date of Birth/Age : |
29.05.1976 |
|
Date of Appointment : |
07.07.2008 |
|
DIN No.: |
01717688 |
|
|
|
|
Name : |
Mr. Rajeshkumar Joshi |
|
Designation : |
Whole-time director |
|
Address : |
A/401, Suhavan Apartments, Judges Bungalow Road, Near H P Petrol Pump,
Bodakdev, Ahmedabad – 380015, Gujarat, India |
|
Date of Birth/Age : |
07.02.1967 |
|
Date of Appointment : |
07.05.2009 |
|
DIN No.: |
02385772 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 29.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
A P Rameswara Rao |
|
485403 |
|
Chandana Aruna Kumari |
|
137229 |
|
Chanda Avinash |
|
6720 |
|
Sree Bhavna |
|
6720 |
|
P. Srinivas |
|
37417 |
|
Rajesh Kumar Joshi |
|
74830 |
|
|
|
|
|
Total |
|
748319 |
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 Integrated Active Pharmaceuticals Ingredients (API's) and
Intermediates. |
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Products : |
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PRODUCTION STATUS (AS ON 31.03.2011)
|
Particulars |
Unit |
31.03.2011 |
|
Installed Capacity |
MTs |
350 |
|
Production |
MTs |
298 |
|
Production Capacity (%) |
MTs |
85.00 |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
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Bankers : |
Ø HDFC Bank
Limited Ø Kotak Mahindra
Bank Limited Ø Union Bank of India, SME Branch, 53/3RT,
Thagbha Terrain, Beside SR
Nagar Police Station, SR Nagar, Hyderbad – 500038, Andhra Pradesh, India |
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Facilities : |
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Banking
Relations : |
-- |
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Financial Institution : |
Amneal
Pharmaceuticals Company (India) Private Limited, 882/1-871, Vil. Rajoda, Near
Hotel Kankavati, Bavla – 382220, Gujarat, India |
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|
|
|
Auditors : |
|
|
Name : |
Ramanatham and Rao Chartered Accountants |
|
Address : |
P.B. No. 2102, Flat No. 302, Kala Mansion, Sarojini Devi Road,
Secunderabad – 500003, Andhra Pradesh, India |
|
Tel. No.: |
91-40-27814147/ 27849305 |
|
Fax No.: |
91-40-27840307 |
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E-Mail : |
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Income-tax
PAN of auditor or auditor’s firm : |
AACFR1623C |
|
\ |
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|
Related Party : |
Ø Rakshit
Pharmaceuticals Limited |
CAPITAL STRUCTURE
AS ON 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5,000,000 |
Equity Shares |
Rs. 10/- each |
Rs. 50.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
748,319 |
Equity Shares |
Rs. 10/- each |
Rs. 7.483
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 |
7.483 |
7.015 |
7.015 |
|
|
2] Share Application Money |
0.000 |
2.888 |
0.000 |
|
|
3] Reserves & Surplus |
156.043 |
128.270 |
107.694 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
163.526 |
138.173 |
114.709 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
136.618 |
122.308 |
86.613 |
|
|
2] Unsecured Loans |
8.392 |
7.495 |
20.217 |
|
|
TOTAL BORROWING |
145.010 |
129.803 |
106.830 |
|
|
DEFERRED TAX LIABILITIES |
11.869 |
9.679 |
7.183 |
|
|
|
|
|
|
|
|
TOTAL |
320.405 |
277.655 |
228.722 |
|
|
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APPLICATION OF FUNDS |
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|
|
|
|
|
|
|
|
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|
FIXED ASSETS [Net Block] |
104.450 |
94.605 |
66.926 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
34.912 |
15.138 |
16.473 |
|
|
DEFERRED TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
67.729
|
69.794 |
30.625 |
|
|
Sundry Debtors |
186.587
|
170.319 |
95.742 |
|
|
Cash & Bank Balances |
16.174
|
16.411 |
5.013 |
|
|
Other Current Assets |
33.097
|
16.115 |
11.718 |
|
|
Loans & Advances |
38.668
|
23.623 |
121.258 |
|
Total
Current Assets |
342.255
|
296.262 |
264.356 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
134.450
|
103.715 |
86.546 |
|
|
Other Current Liabilities |
13.769
|
18.660 |
5.760 |
|
|
Provisions |
12.993
|
5.975 |
26.727 |
|
Total
Current Liabilities |
161.212
|
128.350 |
119.033 |
|
|
Net Current Assets |
181.043
|
167.912 |
145.323 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
320.405 |
277.655 |
228.722 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
771.317 |
518.176 |
541.909 |
|
|
|
Other Income |
NA |
NA |
NA |
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
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|
Administrative Expenses |
|
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|
Advertising Expenses |
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|
|
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TOTAL |
NA |
NA |
NA |
|
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|
|
|
|
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|
|
PROFIT BEFORE
TAX |
41.131 |
35.279 |
42.249 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
8.190 |
6.496 |
14.059 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
32.941 |
28.783 |
28.191 |
|
|
|
|
|
|
|
|
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|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
228.270 |
123.331 |
112.032 |
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
|
|
|
|
|
|
Basic |
44.00 |
41.00 |
40.18 |
|
|
|
Diluted
|
31.80 |
29.10 |
40.18 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
Net Profit Margin (PBT/Sales) |
(%) |
5.33
|
6.81
|
7.80 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
9.21
|
9.03
|
12.75 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.25
|
0.26
|
0.37 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.89
|
0.94
|
0.93 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.12
|
2.31
|
2.22 |
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 |
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 |
UNSECURED LOANS
|
Unsecured Loans |
31.03.2012 |
31.03.2011 |
|
|
(Rs. In Millions) |
|
|
Director and Shareholder |
6.125 |
4.871 |
|
Others |
2.267 |
2.624 |
|
Total |
8.392 |
7.495 |
REVIEW OF OPERATIONS:
During the year,
the Company has shown good results. This was possible because of the timely
decisions taken by the Board for business promotion. The Directors are making their
continuous efforts to realize the market opportunities in order to improve the
performance of the Company in the coming years.
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate
identity number of the company |
U24230AP2000PTC034018 |
|
Name of the
company |
RAKSHIT DRUGS
PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
425/3RT, D. No. 7-1-621/328, Sanjeev Reddy Nagar, Hyderabad – 500038,
Andhra Pradesh, India Email: pjagan123@gmail.com |
|
This form is for |
Modification of charge |
|
Charge
identification number of the modified |
10089028 |
|
Type of charge |
Immovable property Book debts Movable property (not being pledge) |
|
Particular of
charge holder |
Union Bank of
India, Sme Branch, 53/3RT, Thagbha Terrain, Beside SR Nagar Police Station, SR Nagar, Hyderbad – 500038, Andhra
Pradesh, India Email: pjagan123@gmail.com |
|
Nature of description
of the instrument creating or modifying the charge |
Composite
Hypothecation Deed |
|
Date of
instrument Creating the charge |
23.01.2012 |
|
Amount secured by
the charge |
Rs. 171.931
Millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest CC(Hyp) Base
Rate+3.75%,PC/FDBP/FUDBP as per Applicable RBI Rule, ILC/FLC usual and Term
Loan-I Base Rate+3.75%, Term Loan-II Base Rate+3.75% Terms of Repayment Repayable on
Demand & With reference to the term Loan-I I, the Loan of Rs.10.000
Millions shall be repayable in 60 monthly installments of Rs.0.167 Million
each staring from April 2012. The interest is to be served on monthly basis
as and when debited/Charged to the Account. Margin CC (Hyp) Stock25% & Book Debts 40%,
PC/FDBP/FUDBP 10%, ILC/FLC 15%,Term Loan-I 25% And Term Loan-II 27.54% Extent and Operation of the charge The limits of Rs.
150.000 Millions has been enhanced to Rs. 17193.100 Millions Security. |
|
Short particulars
of the property charged |
Hyp of stocks and
book debts by way of first Charge First charge on
the existing and proposed land & building, Plant and Machinery and all
other fixed assets purchased out banks finance. Hypothecation of
stocks procured for exports and Hypothecation of Export bills Hypothecation of
stocks procured under ILC/FLC Land and Building
at S No 10/B situated at Gaddapotharam (Vi), Jinnaram (M) in the Name of
Company. Cost of the Plant
and Machinery at the factory premises at Gaddapotharam (Vi), Jinnaram (M) (As
per the audited Balance Sheet as of 31.03.2011) |
|
Date of
Modification |
03.11.2010 |
|
Particulars of
the present modification |
The limits of Rs.
150.000 Millions has been enhanced to Rs. 17193.100 Millions CC(Hyp) 8000.000 PC/FDBP/FUDBP 2500.000 ILC/FLC 3000.000 Term Loan I 2693.100 Term Loan II 1000.000 |
CONTINGENT
LIABILITIES:
|
Particulars |
31.03.2012 |
31.03.2011 |
|
|
(Rs. in Millions) |
|
|
Letter of Credit |
27.789 |
18.807 |
FIXED ASSETS:
Ø Plant and
Machinery
Ø Land
Ø Buildings
Ø Office Equipment
Ø Electrical
Equipment
Ø Lab Equipment
Ø Machinery Research
And Development
Ø Furniture And
Fixtures
Ø Transport Vehicles
Ø Cars
Ø Computers
Ø Computer Software
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. 54.28 |
|
|
1 |
Rs. 84.32 |
|
Euro |
1 |
Rs. 71.00 |
INFORMATION DETAILS
|
Report Prepared
by : |
BVA |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
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 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--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 |
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 |
|
45 |
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.