MIRA INFORM REPORT
|
Report Date : |
18.05.2013 |
IDENTIFICATION DETAILS
|
Name : |
EMDET ENGINEERS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
9, Cantonment, Amritsar – 143001, Punjab |
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Country : |
India |
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|
|
|
Financials (as
on) : |
31.03.2012 |
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Date of
Incorporation : |
21.04.1970 |
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Com. Reg. No.: |
16-002926 |
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|
|
Capital
Investment / Paid-up Capital : |
Rs. 7.200
Millions |
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|
|
|
CIN No.: [Company Identification
No.] |
U27109PB1970PTC002926 |
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|
|
|
Legal Form : |
Private Limited Liability Company |
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|
|
|
Line of Business
: |
Manufacturer, Importer and Exporter of Automotive Components, Spares
and Steering Wheels. |
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|
|
|
No. of Employees
: |
100 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (42) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 201000 |
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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 commitments. The company can be considered for normal business dealings at usual
trade terms and conditions. |
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 PARTED BY
|
Name : |
Ms. Vandana Desai |
|
Designation : |
Accounts Department |
|
Contact No.: |
91-20-30786311 |
|
Date : |
17.05.2013 |
LOCATIONS
|
Registered Office : |
9, Cantonment, Amritsar – 143001, Punjab, India |
|
Tel. No.: |
91-183-2562403/ 2223522 |
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Fax No.: |
91-183-2223522 |
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E-Mail : |
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Website : |
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Location : |
Owned |
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|
|
|
Factory 1 : |
J-146, M.I.D.C., Bhosari, Pune - 411026, Maharashtra,
India |
|
Tel. No.: |
91-20-30786311/ 12/ 38 |
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Fax No.: |
91-20-30786313 |
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E-Mail : |
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|
|
|
|
Factory 2 : |
Plot No.21, Sector II, IIE, Pantnagar, SIDCUL, District
Udham Singh Nagar, Rudrapur - 263153, Uttarakhand, India |
|
Tel. No.: |
91-5944-250100/ 250130 |
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E-Mail : |
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Factory 3 : |
Plot No.4, Sector XI, IIE, Pantnagar, SIDCUL, Tata Motor's Vendor Park, District Udham Singh Nagar, Rudrapur - 263153, Uttarakhand, India |
DIRECTORS
AS ON 29.09.2012
|
Name : |
Mr. Naavniit Miterr |
|
Designation : |
Managing director |
|
Address : |
9, Cantonment, Amritsar, Punjab, India |
|
Date of Birth/Age : |
10.11.1961 |
|
Date of Appointment : |
30.06.1986 |
|
DIN No.: |
00041336 |
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|
|
|
Name : |
Mrs. Jyotsna Mitter |
|
Designation : |
Director |
|
Address : |
9, Cantonment, Amritsar, Punjab, India |
|
Date of Birth/Age : |
23.04.1970 |
|
Date of Appointment : |
23.04.1970 |
|
DIN No.: |
00041877 |
KEY EXECUTIVES
|
Name : |
Ms. Vandana Desai |
|
Designation : |
Accounts Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 29.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
Jyotsna Mitter |
|
19582 |
|
Naavniit Mitter |
|
20187 |
|
Mitter and
Mitter Engineers Private Limited, India |
|
16 |
|
Radhika Mitter |
|
2869 |
|
Gunjan Mitter |
|
640 |
|
Chitvan Mitter |
|
640 |
|
Nishchay Mitter |
|
25420 |
|
Naavniit Miterr
Karta of Dev Mitter HUF |
|
640 |
|
Neelam Tilak Raj |
|
1 |
|
Veena Dandona |
|
2 |
|
Raghu Khanna |
|
1 |
|
Ram Lubhaya |
|
1 |
|
Vijay Kumar Beri |
|
1 |
|
Tilak Raj B.
Aggarwal |
|
1000 |
|
Sharda Rani T.
Aggarwal |
|
1000 |
|
|
|
|
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Total |
|
72000 |
AS ON 29.09.2012
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Bodies
corporate |
|
0.02 |
|
Directors
or relatives of directors |
|
99.98 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer, Importer and Exporter of Automotive Components, Spares
and Steering Wheels. |
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Products : |
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Exports : |
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Products : |
Finished Goods |
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Countries : |
Ø UK |
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Imports : |
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Products : |
Raw Material |
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Countries : |
Ø Germany |
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Terms : |
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Selling : |
L/C, Cash and Credit |
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Purchasing : |
L/C, Cash and Credit |
PRODUCTION STATUS (AS ON 31.03.2011)
|
Particulars |
Unit |
Installed
Capacity |
|
Steeling Wheels |
Nos. |
900000 |
|
Assembly Fans |
Nos. |
225000 |
|
Other Components |
Nos. |
750000 |
|
Total |
|
1875000 |
GENERAL INFORMATION
|
Customers : |
End Users |
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No. of Employees : |
100 (Approximately) |
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Bankers : |
Ø Oriental Bank of
Commerce, Pimpri, Pune – 411034, Maharashtra, India [91-20-274222625] Ø Oriental Bank of
Commerce, Pimpri Branch, 1st Floor, Jhamtani Chambers, Pune –
411018, Maharashtra, India Ø ICICI Bank
Limited Ø Indian Overseas
Bank |
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Facilities : |
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Banking
Relations : |
-- |
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Financial Institution : |
Tata Finance Limited |
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|
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Auditors : |
|
|
Name : |
P.C. Mehra and Company Chartered Accountants |
|
Address : |
81, Kennedy Avenue, The Mall, Amritsar – 143001, Punjab, India |
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Tel. No.: |
91-183-2566482 |
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Fax No.: |
91-183-2229595 |
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E-Mail : |
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|
Website : |
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Income-tax
PAN of auditor or auditor's firm : |
AABFP2160R |
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|
|
|
Associates : |
Ø Miter and Miter
Engineers Private Limited Ø Navneet Mitter
Family Trust |
CAPITAL STRUCTURE
AS ON 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
100,000 |
Equity Shares |
Rs. 100/- each |
Rs. 10.000 Millions |
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|
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|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
72,000 |
Equity Shares |
Rs. 100/- each |
Rs. 7.200
Millions |
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|
|
|
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 |
7.200 |
7.000 |
7.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
43.134 |
35.699 |
29.152 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
50.334 |
42.699 |
36.152 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
102.244 |
74.608 |
47.559 |
|
|
2] Unsecured Loans |
29.382 |
19.632 |
11.112 |
|
|
TOTAL BORROWING |
131.626 |
94.240 |
58.671 |
|
|
DEFERRED TAX LIABILITIES |
0.178 |
0.541 |
0.859 |
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|
|
|
|
|
|
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TOTAL |
182.138 |
137.480 |
95.682 |
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|
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APPLICATION OF FUNDS |
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|
|
|
|
|
|
|
|
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FIXED ASSETS [Net Block] |
59.341 |
39.291 |
34.609 |
|
|
Capital work-in-progress |
52.261 |
14.660 |
0.000 |
|
|
|
|
|
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|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERRED TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
50.427
|
43.397 |
28.452 |
|
|
Sundry Debtors |
122.960
|
75.640 |
61.604 |
|
|
Cash & Bank Balances |
12.469
|
0.902 |
2.056 |
|
|
Other Current Assets |
2.300
|
4.527 |
0.000 |
|
|
Loans & Advances |
15.596
|
24.804 |
6.808 |
|
Total
Current Assets |
203.752
|
149.270 |
98.920 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
98.829
|
49.446 |
25.585 |
|
|
Other Current Liabilities |
32.566
|
15.036 |
7.352 |
|
|
Provisions |
1.821
|
1.259 |
4.910 |
|
Total
Current Liabilities |
133.216
|
65.741 |
37.847 |
|
|
Net Current Assets |
70.536
|
83.529 |
61.073 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
182.138 |
137.480 |
95.682 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from operations (Net) |
425.340 |
286.773 |
241.591 |
|
|
|
Other Income |
0.188 |
0.391 |
0.217 |
|
|
|
TOTAL (A) |
425.528 |
287.164 |
241.808 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Material consumed |
281.748 |
|
|
|
|
|
Changes in inventories of finished goods, WIP and stock-in-trade |
(0.519) |
(8.786) |
|
|
|
|
Employee Benefit Expenses |
27.071 |
21.183 |
|
|
|
|
Other Expenses |
84.432 |
64.112 |
|
|
|
|
TOTAL (B) |
392.732 |
262.892 |
211.145 |
|
|
|
|
|
|
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|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
32.796 |
24.272 |
30.663 |
|
|
|
|
|
|
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|
|
Less |
FINANCIAL
EXPENSES (D) |
14.267 |
6.933 |
7.071 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
18.529 |
17.339 |
23.592 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
8.569 |
8.268 |
7.288 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
9.960 |
9.071 |
16.304 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
3.624 |
2.524 |
5.680 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
6.336 |
6.547 |
10.624 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’
BALANCE BROUGHT FORWARD |
20.699 |
14.152 |
3.528 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
7.500 |
0.000 |
0.000 |
|
|
BALANCE CARRIED
TO THE B/S |
19.535 |
20.699 |
14.152 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
0.776 |
1.685 |
2.794 |
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
3.348 |
2.507 |
0.000 |
|
|
|
Capital Goods |
0.000 |
3.532 |
0.000 |
|
|
TOTAL IMPORTS |
3.348 |
6.039 |
0.000 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
90.04 |
93.53 |
151.77 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
1.49
|
2.28 |
4.39 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
2.34
|
3.16 |
6.75 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
3.79
|
4.81 |
12.21 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.20
|
0.21 |
0.45 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
2.62
|
2.21 |
1.62 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.53
|
2.27 |
2.61 |
LOCAL AGENCY FURTHER INFORMATION
SUNDRY CREDITORS
DETAILS:
|
Particulars |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
Trade Payables |
(Rs. In Millions) |
||
|
Micro, Small and Medium Enterprises |
28.071 |
|
|
|
Others |
70.758 |
36.320 |
|
|
Total |
98.829 |
49.446 |
25.585 |
|
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 |
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 |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
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 |
UNSECURED LOANS
|
Unsecured Loans |
31.03.2012 |
31.03.2011 |
|
|
(Rs. In Millions) |
|
|
Inter-corporate deposit |
5.170 |
5.170 |
|
Directors |
8.612 |
1.012 |
|
Shareholders |
15.600 |
13.450 |
|
Total |
29.382 |
19.632 |
CORPORATE
INFORMATION:
The Company is incorporated on 21.04.1970 and is engaged in the business
of manufacturing automobile parts and other injection-moulded/ blow-moulded
items. The manufacturing unit is situated in the industrial park at Pune in the
state of Maharashtra.
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate
identity number of the company |
U27109PB1970PTC002926 |
|
Name of the
company |
EMDET ENGINEERS
PRIVATE LIMITED |
|
Address of the registered
office or of the principal place of
business in |
9 Cantonment, Amritsar – 143001, Punjab, India Email: sanjiv@pcmehraandco.com
|
|
This form is for |
Modification of charge |
|
Charge
identification number of the modified |
80022809 |
|
Type of charge |
Immovable property Book debts Movable property (not being pledge) |
|
Particular of
charge holder |
Oriental Bank of Commerce, Pimpri, Pune – 411034, Maharashtra, India Email: krishi.2003@gmail.com
|
|
Nature of
description of the instrument creating or modifying the charge |
Supplemental
Agreement to Secure Credit/Loan/Facilities and Bank Letters. |
|
Date of
instrument Creating the charge |
24.01.2012 |
|
Amount secured by
the charge |
Rs. 73.500
Millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest As per Bank Norms Terms of Repayment On Demand Margin On Demand Extent and Operation of the charge 100% |
|
Short particulars
of the property charged |
Hypothecation of
Stocks of Raw Materials, Stock In Process, Finished Goods, Stock and spares. Receivables Equitable
Mortgage of Factory Land and Building at Plot No.146,J Block, MIDC Bhosari,
Pune and first charge over entire
fixed assets of the Company. Equitable
Mortgage of Plot no. F-4 in Chakan Industrial Area Phase III, Village
Nignoje, Taluka Khed, Pune. |
|
Date of Modification |
27.07.2011 |
|
Particulars of
the present modification |
Limits increased
from Rs. 49.400 Millions to Rs. 73.500 Millions comprising of Cash Credit Rs.
60.000 Millions, Bank Guarantee Rs. 10.000 Millions and Letter of Credit Rs.
3.500 Millions. |
FIXED ASSETS:
Ø Lease Hold Land
Ø Buildings
Ø Plant and
Machinery
Ø Furniture and
Fixture
Ø Vehicles
Ø Office Equipments
Ø Computer
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. 54.89 |
|
|
1 |
Rs. 83.66 |
|
Euro |
1 |
Rs. 70.58 |
INFORMATION DETAILS
|
Information
Gathered by : |
PLK |
|
|
|
|
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 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
4 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTERS |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
42 |
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.