MIRA INFORM REPORT
|
Report Date : |
28.05.2013 |
IDENTIFICATION DETAILS
|
Name : |
JAILAXMI CASTING AND ALLOYS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Gut No.75, Farola Village, Aurangabad Paithan Road, Taluka
Paithan, District Aurangabad – 431005,
Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
18.08.2004 |
|
|
|
|
Com. Reg. No.: |
11-148067 |
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|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 150.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U27100MH2004PTC148067 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
NSKJ01535C |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCJ4567F |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
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|
|
|
Line of Business
: |
Manufacturing of
M. S. Billets and Rolled Products. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (43) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 1796000 |
|
|
|
|
Status : |
Satisfactory |
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|
|
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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.
There appears huge increase in the borrowings of the company during 2013.
However, trade relations are reported to be usually correct. The company can be considered normal for 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.
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 |
CARE |
|
Rating |
Long term Bank facilities : BB+ |
|
Rating Explanation |
Moderate risk of default. |
|
Date |
April 16, 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 / Factory : |
Gut No.75, Farola Village, Aurangabad Paithan Road, Taluka
Paithan, District Aurangabad – 431005,
Maharashtra, India |
|
Tel. No.: |
91-2431-251236/ 37/ 251212 |
|
Fax No.: |
91-2431-251212/ 251236 |
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E-Mail : |
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|
Website : |
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|
|
|
Export Sales Office : |
Office No.5, 1st Floor, Patel Shopping Center, Sainath
Road, Malad (West), Mumbai – 400064, Maharashtra, India. |
|
Tel. No.: |
91-22-28813066/ 28813086 |
|
Fax No.: |
91-22-28813086 |
|
E-Mail : |
DIRECTORS
AS ON 29.09.2012
|
Name : |
Mr. Manish Omprakash Agrawal |
|
Designation : |
Director |
|
Address : |
Flat No D – 45, Pride Park, Vedant Nagar, Station Road, Aurangabad,
Maharashtra, India |
|
Date of Birth/Age : |
25.02.1975 |
|
Date of Appointment : |
18.08.2004 |
|
PAN No.: |
AAYPA2294G |
|
DIN No.: |
00574440 |
|
|
|
|
Name : |
Mr. Navin Hanumanprasad Bagadia |
|
Designation : |
Director |
|
Address : |
H. No. 4, Nilkanth Vihar, Golegaonkar Colony, Station Road, Aurangabad, Maharashtra, India |
|
Date of Birth/Age : |
26.07.1974 |
|
Date of Appointment : |
20.11.2004 |
|
PAN No.: |
ABNPB2077L |
|
DIN No.: |
00574513 |
|
|
|
|
Name : |
Mrs. Shardadevi Radhesham Agrawal |
|
Designation : |
Director |
|
Address : |
Bharat Nagar, Near Shivaji Statue,
Jalna, Maharashtra, India |
|
Date of Birth/Age : |
27.01.1955 |
|
Date of Appointment : |
18.11.2010 |
|
PAN No.: |
AAPPA5578E |
|
DIN No.: |
01155774 |
|
|
|
|
Name : |
Mr. Srinivas Jayaram Palasuledesai |
|
Designation : |
Director |
|
Address : |
RH – 2, Anand Vihar, Opposite Dhoot Bungalow, Paithan Gate, Aurangabad, Maharashtra, India |
|
Date of Birth/Age : |
07.02.1968 |
|
Date of Appointment : |
05.08.2008 |
|
DIN No.: |
02279223 |
|
|
|
|
Name : |
Mr. Pankaj Radheshyam Agrawal |
|
Designation : |
Director |
|
Address : |
Block No. A – 6, CTSNO – 18349/3, Pride Plaza, Station Road, Aurangabad,
Maharashtra, India |
|
Date of Birth/Age : |
30.08.1981 |
|
Date of Appointment : |
16.06.2009 |
|
PAN No.: |
AGCPA4888J |
|
DIN No.: |
02411583 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 29.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
|
|
|
|
D. R. Peety |
|
72880 |
|
Kavita Peety |
|
72330 |
|
Aarti Peety |
|
31380 |
|
Manoj Peety |
|
52880 |
|
Alkesh Peety |
|
52880 |
|
D. R. Peety-HUF |
|
61270 |
|
Shweta A. Peety |
|
31380 |
|
Radheshyam Agrawal |
|
102580 |
|
Rhishi Steel and Alloys Private Limited, India |
|
367980 |
|
Pankaj Agrawal |
|
40780 |
|
Shardadevi Agrawal |
|
40580 |
|
Neetu Agrawal |
|
10580 |
|
Manish O Agrawal |
|
132146 |
|
Navin H. Bagadiya |
|
141286 |
|
Vipin Bagadiya |
|
139334 |
|
Nitin V. Bagadiya |
|
118834 |
|
Vandana N. Bagadiya |
|
20000 |
|
H. M Bagadiya – HUF |
|
10900 |
|
|
|
|
|
Total |
|
1500000 |
AS ON 29.09.2012
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Directors
or relatives of directors |
|
71.00 |
|
Other
top fifty shareholders |
|
29.00 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing of
M. S. Billets and Rolled Products. |
GENERAL INFORMATION
|
Customers : |
Ø Trinity Engineers Private Limited Ø Kalyani Thermal Systems Limited Ø S.R. Auto Parts Ø Ahmednagar Forgings Limited Ø PAN International Ø Indo Meta Forge Private Limited Ø Bombay Transportation and Electrical Components Private Limited Ø Laxmi Agni Components and Forgings Private Limited Ø Masso Automotives Private Limited Ø Prachi Forge Private Limited Ø Neepaz V Forge (India) Limited Ø Saraswati
Auto Components Private Limited |
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No. of Employees : |
Not Available |
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Bankers : |
Ø The Cosmos Co - Operative
Bank Limited, Plot No 13001/01, Rokdiya Hanuman Colony, Jalna Road,
Aurangabad - 431001, Maharashtra, India Ø Bank of
Maharashtra, Station Road Branch, Station Road, Aurangabad - 431005,
Maharashtra, India Ø Union Bank of
India, Aurangabad Main Branch, Paithan Gate, Aurangabad - 431001,
Maharashtra, India |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
Kailash and
Associates Chartered Accountants |
|
Address : |
7, Agrawal
House, Bansilal Nagar, Station Road, Aurangabad, Maharashtra, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AAUPA4535G |
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|
|
|
Related Parties : |
Ø Kinescope (India)
Private Limited [U92114MH1996PTC100696] Ø Rhishi Steels
and Alloys Private Limited [U27200MH1988PTC046773] Ø Aurangabad
Alloys Private Limited [U27203MH2004PTC146410] Ø Jalna Motor
Transport |
CAPITAL STRUCTURE
AS ON 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1,500,000 |
Equity Shares |
Rs. 100/- each |
Rs. 150.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1,500,000 |
Equity Shares |
Rs. 100/- each |
Rs. 150.000 Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
150.000 |
150.000 |
150.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
299.086 |
189.836 |
98.713 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
449.086 |
339.836 |
248.713 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
878.060 |
795.112 |
452.212 |
|
|
2] Unsecured Loans |
71.316 |
21.626 |
135.789 |
|
|
TOTAL BORROWING |
949.376 |
816.738 |
588.001 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
1398.462 |
1156.574 |
836.714 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
500.639 |
434.922 |
431.186 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.822 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.130 |
0.131 |
0.008 |
|
|
DEFERRED TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
481.690
|
334.135 |
281.978 |
|
|
Sundry Debtors |
748.352
|
556.506 |
355.493 |
|
|
Cash & Bank Balances |
68.344
|
18.594 |
20.651 |
|
|
Other Current Assets |
51.629
|
9.653 |
8.291 |
|
|
Loans & Advances |
8.172
|
9.553 |
4.444 |
|
Total
Current Assets |
1358.187
|
928.441 |
670.857 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
257.367
|
129.078 |
213.594 |
|
|
Other Current Liabilities |
190.280
|
59.755 |
26.953 |
|
|
Provisions |
12.847
|
18.087 |
25.612 |
|
Total
Current Liabilities |
460.494
|
206.920 |
266.159 |
|
|
Net Current Assets |
897.693
|
721.521 |
404.698 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
1398.462 |
1156.574 |
836.714 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
|
|
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL |
3092.713 |
2533.013 |
2084.359 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
2953.463 |
2406.889 |
1944.352 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
(Including
Depreciation Expenses) |
(Including
Depreciation Expenses) |
140.007 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
|
|
22.100 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
139.250 |
126.124 |
117.907 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
30.000 |
35.000 |
20.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
109.250 |
91.124 |
97.907 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
|
|
3.973 |
|
|
|
Stores & Spares |
|
|
12.700 |
|
|
|
Capital Goods |
|
|
24.338 |
|
|
TOTAL IMPORTS |
N.A. |
N.A. |
41.011 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
72.83 |
61.00 |
65.00 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
3.53
|
3.60 |
4.70 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
7.49
|
9.25 |
10.70 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.31
|
0.37 |
0.47 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
2.11
|
2.40 |
2.36 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.95
|
4.49 |
2.52 |
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 |
Yes |
|
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 |
Yes |
|
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) |
|
|
Deposits from directors |
52.286 |
19.126 |
|
Intercorporate deposits |
19.030 |
2.500 |
|
Total |
71.316 |
21.626 |
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate
identity number of the company |
U27100MH2004PTC148067 |
|
Name of the
company |
JAILAXMI CASTING
AND ALLOYS PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
Gut No.75, Farola Village, Aurangabad Paithan Road, Taluka Paithan, District Aurangabad – 431005, Maharashtra, India Email: bhandareassociates@gmail.com
|
|
This form is for |
Modification of charge |
|
Charge
identification number of the modified |
10231536 |
|
Type of charge |
Immovable property Any interest in immovable property Book debts Movable property (not being pledge) Floating charge |
|
Particular of
charge holder |
The Cosmos Co - Operative Bank Limited, Plot No 13001/01, Rokdiya
Hanuman Colony, Jalna Road, Aurangabad - 431001, Maharashtra, India Email: avinash.chavan@cosmosbank.in
|
|
Nature of
description of the instrument creating or modifying the charge |
Composite deed of
mortgage and hypothecation for creation of additional charge |
|
Date of
instrument Creating the charge |
04.02.2013 |
|
Amount secured by
the charge |
Rs. 1450.000
Millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest 14% p.a. Terms of Repayment 63 Months Margin 25% Extent and Operation of the charge Charge shall
remain in force till the entire loan along with interest, commission, and
other charges are repaid by the company. Others Consortium loan Cosmos Co-Op Bank
– 770.000 Millions Shamrao Vithal
Co-Op Bank – 420.000 Millions TJSB – 260.000
Millions Total loan Rs
1450.000 Millions All charges are
pari passu in nature with other participating banks |
|
Short particulars
of the property charged |
Gut No 74,
Village Pharola, District Aurangabad admn 2 acres 21 gunthas Gut No 75,
Village Pharola, District Aurangabad admn 3 hec 49r Gut No 54, Village
Mharola, Paithanroad, Aurangabad admn 1 hec 1r Plot at Gut No
53, Village Mharola, Paithan Road, Aurangabad admn 2 Hec 61R All current
assets both present and future of the borrower company, book debts,
receivables, debtors, stock in trade, raw materials, finished goods etc. |
|
Particulars of
the present modification |
Additional limit
of Rs 20.000 Millions sanctioned by
Cosmos Bank, securing total charge to Rs 1400.000 Millions |
FIXED ASSETS:
Ø Land
Ø Buildings
Ø Plant and equipment
Ø Furniture and fixtures
Ø Vehicles
Ø Office equipment
Ø Other equipments
Ø Leasehold improvements
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. 55.62 |
|
|
1 |
Rs. 84.18 |
|
Euro |
1 |
Rs. 71.96 |
INFORMATION DETAILS
|
Report Prepared
by : |
BVA |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--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 |
|
43 |
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.