MIRA
INFORM REPORT
|
Report Date : |
11.05.2013 |
IDENTIFICATION DETAILS
|
Name : |
KISHCO LIMITED |
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Registered
Office : |
Plot No. 71, E To T Government Industrial Estate, Behind Garuda Petrol Pump, Charkop, Kandivali (West), Mumbai – 400067, Maharashtra |
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Country : |
India |
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Financials (as
on) : |
31.03.2012 |
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Date of
Incorporation : |
01.08.1950 |
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Com. Reg. No.: |
11-008164 |
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Capital Investment
/ Paid-up Capital : |
Rs.9.312 Millions |
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CIN No.: [Company Identification
No.] |
U18101MH1950PLC008164 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
MUMK10747C |
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PAN No.: [Permanent Account No.] |
AAACK2894F |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Manufacturer of Kitchen Appliances. |
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No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
B (28) |
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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 50000 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate track record. There
appears sharp dip in the turnover of the company. The company is continuously
incurring losses from its operation. However, trade relations are reported as
fair. Business is active. Payments are reported to be slow. The company can be considered for business dealings with great
cautions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
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 DENIED BY
|
Name : |
Mr. Muthu Raman |
|
Designation : |
Account Department |
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Contact No.: |
91-22-22871914 |
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Date : |
10.05.2013 |
LOCATIONS
|
Registered Office : |
Plot No. 71, E To T Government Industrial Estate, Behind Garuda Petrol Pump, Charkop, Kandivali (West), Mumbai – 400067, Maharashtra, India |
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Tel. No.: |
91-22-28683739/ 8550/ 6520 |
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Fax No.: |
91-22-28682545 |
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E-Mail : |
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Website : |
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Branch Office 1 : |
B-55-B, Kalkaji, New Delhi – 110019, India |
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E-Mail : |
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Branch Office 2 : |
2,Bharat Mahal, 86, Marine Drive, Mumbai – 400002,
Maharashtra, India |
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Tel. No.: |
91-22-22815121 |
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E-Mail : |
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Factory : |
Plot No. D-2, MIDC, Sinnar Industrial Area, Sinnar,
District Nashik - 422113 Maharashtra, India |
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Tel. No.: |
91- 2551-230341/ 230526 |
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E-Mail : |
DIRECTORS
As on: 29.09.2012
|
Name : |
Mr. Sridhar Venkateseshan Iyer |
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Designation : |
Director |
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Address : |
601-A, Daffodil Apartment, Sion-Trombay Road, Deonar, Mumbai - 400088, Maharashtra, India |
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Date of Appointment : |
30.07.2003 |
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DIN No.: |
00338398 |
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Name : |
Mr. Pramodkumar Shriyansprasad Jain |
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Designation : |
Managing Director |
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Address : |
Shikar Kunj, 29-A, Carmichael Road, Mumbai - 400026, Maharashtra, India |
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Date of Appointment : |
12.05.1992 |
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DIN No.: |
00380458 |
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Name : |
Mr. Ashish Pramodkumar Jain |
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Designation : |
Director |
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Address : |
Shikar Kunj, 29-A, Carmichael Road, Mumbai - 400026, Maharashtra, India |
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Date of Appointment : |
29.11.1997 |
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DIN No.: |
00866676 |
KEY EXECUTIVES
|
Name : |
Mr. Muthu Raman |
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Designation : |
Account Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 29.09.2012
|
Names of Shareholders |
|
No. of Equity
Shares |
|
Pramod Kumar Jain |
|
351910 |
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Ashish Jain |
|
184940 |
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Usha P Jain |
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218700 |
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Pramod Kumar Jain – HUF |
|
138550 |
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Ashish Jain – HUF |
|
85000 |
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Namita P. Jain |
|
43200 |
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Sonalika Jain |
|
40000 |
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Total |
|
1062300 |
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Names of Shareholders |
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No. of
Preference Shares |
|
Pramod Kumar Jain |
|
400000 |
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Total |
|
400000 |
Equity Share Break up (Percentage of Total Equity)
As on: 29.09.2012
|
Category |
|
Percentage |
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Directors or relatives of directors |
|
100.00 |
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Total
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|
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of Kitchen Appliances. |
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Products : |
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GENERAL INFORMATION
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No. of Employees : |
Information declined by the management |
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Bankers : |
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Facilities : |
(Rs.
In Millions)
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
J.J. Ganatra and Associates Chartered Accountants |
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Address : |
Shop No. 4, Divya Deep Co-Operative Housing Socirty Limited, Ram Mandir, Pranay Nagar, Vazira Naka, Borivali
(West), Mumbai – 400092, Maharashtra, India |
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PAN No.: |
AACPG6600L |
CAPITAL STRUCTURE
As on: 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
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|
6380000 |
Equity Shares |
Rs.5/- each |
Rs.31.900 Millions |
|
810000 |
Cummulative Preference Shares |
Rs.10/- each |
Rs.8.100 Millions |
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Total |
|
Rs.40.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
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|
1062300 |
Equity Shares |
Rs.5/- each |
Rs.5.312 Millions |
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400000 |
5 % Non Cum. Red. Preference Share |
Rs.10/- each |
Rs.4.000 Millions |
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Total |
|
Rs.9.312 Millions |
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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1] Share Capital |
9.312 |
9.312 |
9.312 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
3.311 |
57.226 |
72.835 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
12.623 |
66.538 |
82.147 |
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LOAN FUNDS |
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1] Secured Loans |
13.157 |
111.010 |
114.574 |
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2] Unsecured Loans |
103.646 |
94.438 |
74.980 |
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TOTAL BORROWING |
116.803 |
205.448 |
189.554 |
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DEFERRED TAX LIABILITIES |
17.856 |
6.560 |
9.587 |
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TOTAL |
147.282 |
278.546 |
281.288 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
104.477 |
183.606 |
177.171 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.001 |
0.001 |
0.099 |
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DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
36.154
|
64.919 |
80.637 |
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Sundry Debtors |
31.514
|
65.343 |
36.962 |
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Cash & Bank Balances |
2.948
|
4.260 |
3.176 |
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Other Current Assets |
23.157
|
35.999 |
0.000 |
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Loans & Advances |
3.338
|
6.458 |
56.601 |
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Total
Current Assets |
97.111
|
176.979 |
177.376 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditors |
36.804
|
44.023 |
34.242 |
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Other Current Liabilities |
17.503
|
38.017 |
39.116 |
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Provisions |
0.000
|
0.000 |
0.000 |
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Total
Current Liabilities |
54.307
|
82.040 |
73.358 |
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Net Current Assets |
42.804
|
94.939 |
104.018 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
147.282 |
278.546 |
281.288 |
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PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
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SALES |
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Income |
91.594 |
231.676 |
212.847 |
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Other Income |
20.892 |
19.571 |
22.427 |
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TOTAL (A) |
112.486 |
251.247 |
235.274 |
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Less |
EXPENSES |
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Cost of Materials Consumed |
53.285 |
88.894 |
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Changes in Inventories |
17.680 |
14.439 |
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Employee Benefit Expenses |
28.851 |
29.457 |
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Other Expenses |
57.042 |
86.567 |
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Extraordinary Items |
(42.998) |
0.000 |
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TOTAL (B) |
113.860 |
219.357 |
215.732 |
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Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
(1.374) |
31.890 |
19.542 |
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Less |
FINANCIAL
EXPENSES (D) |
10.547 |
14.353 |
15.293 |
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PROFIT/
(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
(11.921) |
17.537 |
4.249 |
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Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
29.911 |
36.143 |
37.478 |
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PROFIT/ (LOSS)
BEFORE TAX (E-F) (G) |
(41.832) |
(18.606) |
(33.229) |
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Less |
TAX (H) |
11.296 |
(3.013) |
(12.281) |
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PROFIT/ (LOSS)
AFTER TAX (G-H) (I) |
(53.128) |
(15.593) |
(20.948) |
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EARNINGS IN
FOREIGN CURRENCY |
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Export Earnings |
3.379 |
3.918 |
NA |
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TOTAL EARNINGS |
3.379 |
3.918 |
NA |
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IMPORTS |
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Goods for Resale |
1.132 |
8.409 |
1.343 |
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TOTAL IMPORTS |
1.132 |
8.409 |
1.343 |
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Earnings/ (Loss)
Per Share (Rs.) |
(36.33) |
NA |
NA |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
(47.23) |
(6.21) |
(8.90) |
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|
Net Profit Margin (PBT/Sales) |
(%) |
(45.67) |
(8.03) |
(15.61) |
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Return on Total Assets (PBT/Total Assets} |
(%) |
(20.75) |
(5.16) |
(9.37) |
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|
Return on Investment (ROI) (PBT/Networth) |
|
(3.31) |
(0.28) |
(0.40) |
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|
Debt Equity Ratio (Total Debt/Networth) |
|
9.25 |
3.09 |
2.31 |
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|
Current Ratio (Current Asset/Current Liability) |
|
1.79 |
2.16 |
2.426 |
LOCAL AGENCY FURTHER INFORMATION
DETAILS OF SUNDRY CREDITORS:
(Rs. In Millions)
|
Particulars |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
Sundry Creditors |
36.804
|
44.023 |
34.242 |
|
|
|
|
|
|
Total |
36.804
|
44.023 |
34.242 |
|
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 |
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 |
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 |
No |
OPERATIONS AND FUTURE
OUTLOOK
The Turnover of the Company for the Financial Year has decreased from Rs. 91.594 Millions (Cutlery and Kitchenware Rs.76.706 Millions + Windmill Electricity Rs.14.888 Millions) to Rs.212.847 Millions (Cutlery and Kitchenware Rs.202.115 Millions + Windmill Electricity Rs. 10.732 Millions) showing an decrease of 43.04%.
Loss before tax is Rs. (41.800) Millions as against a loss of Rs. (18.640) Millions in the previous year.
In line with the Accounting Standard 22, the Net Deferred Tax (Liabilities) works out to Rs. 17.856 Millions as against (previous year’s Net Deferred Tax (liability) of Rs. 6.560 Millions and the impact of the same has been considered in the Accounts. The deferred tax, however, is only a provision as per the accounting guidelines and not an outflow.
During the period, the company continues to maintain its aggressive marketing policy and is putting consistent efforts to widen its Dealer-Distributor network and also exploring the overseas market.
The outlook of the company appears to be reasonably good.
UNSECURED LOAN
(Rs. In Millions)
|
Particular |
As on 31.03.2012 |
As on 31.03.2011 |
|
Loans and Advances From Related Parties (Directors) |
103.646 |
94.438 |
|
|
|
|
|
Total |
103.646 |
94.438 |
Contingent Liability
not provided for in respect of :
a) Guarantees issued by Banks on behalf of the Company Rs.1.000 Million (Rs.1.046 Millions) against term deposit of Rs. 1.000 Million (Rs.0.157 Millions).
b) Demand of Rs. 3.460 Millions towards additional taxes for Marine Drive Show Room from Collector of Mumbai City, not acknowledged by the company and the same is disputed by the company by filing a petition in Bombay High Court. The said demand is reduced Rs. 1.110 Millions and the matter is now pending at Bombay High Court.
Bankers Charges
Report as per Registry
|
Corporate identity
number (CIN) or foreign company registration
number of the company |
U18101MH1950PLC008164 |
|
Name of the
company |
KISHCO LIMITED |
|
Address of the registered
office or of the principal place of
business in India of the company |
Plot No. 71, E To T Government Industrial Estate, Behind Garuda Petrol Pump, Charkop, Kandivali (West), Mumbai – 400067, Maharashtra, India E-mail: kishco@kishco.org |
|
This form is for |
Modification
of charge |
|
Charge
identification (ID) number of the charge to be modified |
10272782 |
|
Type of charge |
|
|
Particular of
charge holder |
Axis Bank Limited, Axis House, Ground Floor, Bombay Dyeing Mills Company, P.B. Marg, Worli, Mumbai - 400025, Maharashtra, India E-mail: suyashri@vsnl.com |
|
Nature of
instrument creating charge |
No Instrument.
Memorandum of Entry (MOE) Extension of Equitable Mortgage on 24.03.2012. |
|
Date of
instrument Creating the charge |
24.03.2012 |
|
Amount secured by
the charge |
Rs.20.000
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest As per Sanction
Letter No. AXISB/SME/MUMBAI-II/1265/11-12 dated 16.01.2012 or as stipulated
by Bank from time to time. Terms of
Repayment As per Sanction
Letter No. AXISB/SME/MUMBAI-II/1265/11-12 dated 16.01.2012 or as stipulated
by Bank from time to time. Margin As per Sanction
Letter No. AXISB/SME/MUMBAI-II/1265/11-12 dated 16.01.2012 or as stipulated
by Bank from time to time. Extent and Operation
of the charge Out of Corporate
Loan of Rs.20.000 Millions. granted to the Company, the present Rundown
balance of Rs.15.000 Millions additionally secured by extending EM by way of
constructive delivery and deposit of Title Deeds relating to imm. properties
viz. free hold Industrial Plot at CTS No.432 Govt. Industrial Estate,
Charkop, Kandivali (West), Mumbai and Plot No.D-2 Sinnar Indl. Area, District
Nasik, des. as part A and B in 1st and 2nd Sch. to MOE together with
Building, Structures, P and M thereon, both present and future. Others The aforesaid
imm. properties were already given as security to secure W. Capital limits of
Rs.35.000 Millions. granted by the Bank and now vide MOE the same are
extended as security by way of constructive delivery and deposit to secure
the present Rundown balance of Corporate Loan of Rs.15.000 Millions. |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
First charge on
present and future stock of RM, SIP, FG, wheresoever situate and/or in the
course of transit. 1st charge on
present and future movable P and M, fixtures etc., wheresoever lying except
office at Peninsula Centre, Parel, Mumbai-12 and 2 existing wind mills at
Rajasthan. First charge on
present and future and Book Debts, outstanding money receivables, claims,
contracts etc. due and owing to Company during the course of its business. Equitable
mortgage by deposit of title deeds of imm. property viz. free hold Indl. Plot
adm. 40000 sq.ft. at CTS No.432 Govt. Industrial Estate Charkop, Kandivali
(West), Mumbai Equitable
mortgage by deposit of title deeds of imm. Property viz. Plot No.D-2 Sinnar
Indl. Area, Sinnar, District Nashik adm. 4500 sq.mtrs. |
|
Particulars of the
present modification |
Out of Corporate
Loan of Rs.20.000 Millions. granted to the Company, the present Rundown
balance of Rs.15.000 Millions additionally secured by extending EM by way of
constructive delivery and deposit of Title Deeds relating to imm. properties
viz. free hold Industrial Plot at CTS No.432 Govt. Indl. Estate, Charkop,
Kandivali (West), Mumbai and Plot No.D-2 Sinnar Industrial Area, Dist. Nasik,
des. as part A and B in 1st and 2nd Sch. to MOE together with Building
Structures, P and M thereon, both present and future. |
FIXED ASSETS
Tangible Assets
- Buildings
- Plant and Equipment
- Furniture and Fixtures
- Land
- Vehicles
- Office Equipment
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.54.54 |
|
|
1 |
Rs.84.19 |
|
Euro |
1 |
Rs.71.11 |
INFORMATION DETAILS
|
Information
Gathered by : |
PDT |
|
|
|
|
Report Prepared
by : |
VRN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
2 |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
28 |
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.