MIRA INFORM REPORT
|
Report Date : |
19.11.2013 |
IDENTIFICATION DETAILS
|
Name : |
ARORA YARN PRIVATE LIMITED (w.e.f. 30.03.2010) |
|
|
|
|
Formerly Known
As : |
B.J. WOOLLENS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
24, Industrial Area, Raw Bazar Bikaner-334001, Rajasthan |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
06.12.1996 |
|
|
|
|
Com. Reg. No.: |
17-012948 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs. 7.700 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U17117RJ1996PTC012948 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
AAACB7565N |
|
|
|
|
PAN No.: [Permanent Account No.] |
JDHB05045F |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacture of Woollen Yarn and Gawar Gum. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (28) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 76000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having moderate track record. There appears huge external borrowing taken by the company during the
financial year 2012. Profit margin of the company seems to be low. However, trade relations are fair. Business is active. Payment terms
are slow but correct. The company can be considered for business dealing with some caution. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – March 31st, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
The current downturn
provides an opportunity to push ahead with reforms to accelerate growth, says
the latest India Development Update report released by the World Bank. The
report says that the adverse effects of rupee depreciation are likely to be
offset by the gains in the exports performance due to improved external
competitiveness. Since May this year, the local currency has depreciated
substantially and fell to a record level of Rs 68.85 to a dollar on August, 28.
A stagflation like situation
appears to have arisen as inflation jumped to an eight month high of 6.46 % for
the month of September. It is up from 6.10 % in August. Growth continues to be
muted with factory output plunging to 0.6 % in August. Onion prices have
risen nearly 300 % from last September. Vegetables cost nearly 90 % more than
they did last year. Wake up to the economic contribution of slum dwellers. They
contribute more than 7.5 % to the country’s gross domestic product, according
to a recent study conducted in 50 top cities.
136000 estimated
number of jobs created during the second quarter of the current financial year.
50000 estimated number of additional jobs in the field of corporate social
responsibility in the coming years.
The International
Finance Corporation expects to come out with its rupee linked bonds issue
before the end of 2013 as a part of its plan to raise $ 1 billion. The Apple
iPhone 5c (Rs 41900 for 16 GB variant) and 5s (Rs 53500 for 16GB variant) has
been launched in India from 1st November.
The Land Acquisition
Act to provide just and fair compensation to farmers will come into force from
January 1 next year, said Rural Development Minister Jairam Ramesh. The Act
replaces a 119 year old registration. The Securities and Exchange Board of India
has approved the trading of currency futures on the Bombay Stock Exchange. The
exchange plans to launch the currency futures platform with advanced trading
technology by the end of November.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long term Rating = B- |
|
Rating Explanation |
Risk prone credit quality and high risk of default. |
|
Date |
24.09.2012 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short term Rating = A4 |
|
Rating Explanation |
Minimal degree of safety and high credit risk. |
|
Date |
24.09.2012 |
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 : |
24, Industrial Area, Raw Bazar Bikaner-334001, Rajasthan,
India |
|
Tel. No.: |
91-151-2545213 |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
|
|
|
Branch Office : |
Located At
|
DIRECTORS
As on 30.09.2013
|
Name : |
Mr. Kishan Kumar Arora |
|
Designation : |
Director |
|
Address : |
15, Sadul Colony, Bikaner, Rajasthan, India |
|
Date of Birth/Age : |
16.08.1959 |
|
Date of Appointment : |
18.07.2008 |
|
DIN No.: |
00337245 |
|
|
|
|
Name : |
Mrs. Neeru Arora |
|
Designation : |
Additional Director |
|
Address : |
15, Sadul Colony, Bikaner, Rajasthan, India |
|
Date of Birth/Age : |
09.08.1963 |
|
Date of Appointment : |
17.09.2008 |
|
DIN No.: |
02328002 |
|
|
|
|
Name : |
Mr. Mayank Arora |
|
Designation : |
Director |
|
Address : |
15, Sadul Colony, Bikaner, Rajasthan, India |
|
Date of Birth/Age : |
21.10.1987 |
|
Date of Appointment : |
01.12.2011 |
|
DIN No.: |
02328327 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2013
|
Names of Shareholders |
|
No. of Shares |
|
Kishan Kumar Arora |
|
324700 |
|
Neeru Arora |
|
201900 |
|
Jeth Mal Arora |
|
22400 |
|
Kishan Kumar Arora (HUF) |
|
51000 |
|
Kailash Chand Khatri (HUF) |
|
130000 |
|
Jeth Mal Arora (HUF) |
|
1000 |
|
Shiv Prakash Arora |
|
1000 |
|
Shiv Prakash Arora (HUF) |
|
1000 |
|
Braham Prakash Arora |
|
1000 |
|
Braham Prakash Arora (HUF) |
|
1000 |
|
Sirya Devi Arora |
|
1000 |
|
Anju Arora |
|
1000 |
|
Veen Arora |
|
1000 |
|
Afsons India Private Limited, India |
|
5000 |
|
Centak Distributors Private Limited, India |
|
2000 |
|
Kaypee Merenitles Private Limited, India |
|
3000 |
|
Shashank Arora |
|
11000 |
|
Mayank Arora |
|
11000 |
|
Total |
|
770000 |
As on 30.09.2013
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Directors or relatives of Directors |
99.00 |
|
Other top fifty shareholders |
1.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacture of Woollen Yarn and Gawar Gum. |
PRODUCTION STATUS
|
Particulars |
Unit |
31.03.2013 |
|
Installed
Capacity |
Kgs. |
900000 |
|
Actual
Production |
Kgs. |
559537 |
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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No. of Employees : |
Not Available |
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Bankers : |
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Facilities : |
(Rs.
In Millions)
|
|
|
|
|
Banking
Relations : |
--- |
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|
|
|
Auditors : |
|
|
Name : |
D.R. Nahta and Company Chartered Accountants |
|
Address : |
Transport Gali, G.S. Road, Bikaner – 334001, Rajasthan, India |
|
Tel. No.: |
91-151-2544058 |
|
Mobile No.: |
91-9352091370 |
|
PAN No.: |
AANPN3485F |
|
|
|
|
Related Party : |
|
CAPITAL STRUCTURE
As on 30.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
850000 |
Equity Shares |
Rs.10/- each |
Rs.8.500 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
7700000 |
Equity Shares |
Rs.10/- each |
Rs.7.700 Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are in
Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
7.700 |
7.700 |
7.600 |
|
(b) Reserves & Surplus |
11.406 |
10.534 |
4.683 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
0.000 |
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
19.106 |
18.234 |
12.283 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
83.579 |
48.422 |
42.632 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
83.579 |
48.422 |
42.632 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade
payables |
11.098 |
8.443 |
8.457 |
|
(c) Other
current liabilities |
1.926 |
3.373 |
3.951 |
|
(d) Short-term
provisions |
1.721 |
1.699 |
1.967 |
|
Total Current
Liabilities (4) |
14.745 |
13.515 |
14.375 |
|
|
|
|
|
|
TOTAL |
117.430 |
80.171 |
69.290 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
29.869 |
17.793 |
18.546 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
0.000 |
7.662 |
0.626 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
0.000 |
0.000 |
0.000 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
29.869 |
25.455 |
19.172 |
|
|
|
|
|
|
(2) Current
assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
40.191 |
11.824 |
17.608 |
|
(c) Trade
receivables |
37.689 |
31.212 |
25.604 |
|
(d) Cash
and cash equivalents |
4.034 |
8.165 |
4.089 |
|
(e) Short-term
loans and advances |
5.644 |
3.501 |
2.793 |
|
(f) Other
current assets |
0.003 |
0.014 |
0.024 |
|
Total
Current Assets |
87.561 |
54.716 |
50.118 |
|
|
|
|
|
|
TOTAL |
117.430 |
80.171 |
69.290 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
141.839 |
127.629 |
|
|
|
|
Other Income |
1.631 |
0.172 |
|
|
|
|
TOTAL |
143.470 |
127.801 |
125.731 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
138.574 |
124.323 |
122.075 |
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
138.574 |
124.323 |
122.075 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
4.896 |
3.478 |
3.656 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
3.627 |
2.098 |
2.091 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
1.269 |
1.380 |
1.565 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
0.396 |
0.430 |
0.753 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX |
0.873 |
0.950 |
0.812 |
|
|
|
|
|
|
|
|
|
|
CIF VALUE OF
IMPORTS |
53.353 |
55.311 |
30.208 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
1.13 |
1.23 |
NA |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
0.61
|
0.74 |
0.65 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
0.89
|
1.08 |
NA |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.08
|
1.90 |
2.28 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.07
|
0.08 |
0.13 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
4.37
|
2.66 |
3.47 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
5.94
|
4.05 |
3.49 |
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 |
Yes |
|
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 |
No |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
Yes |
UNSECURED LOAN
Rs.
In Millions
|
Particular |
As
on 31.03.2013 |
As
on 31.03.2012 |
|
Long Term Borrowing |
|
|
|
Kishan Kumar Arora |
5.980 |
2.456 |
|
Neeru Arora |
4.798 |
0.864 |
|
Kishan Kumar Arora (HUF) |
8.422 |
8.430 |
|
Mayank Arora |
10.971 |
7.548 |
|
Sipani Woollens |
1.500 |
0.000 |
|
Shahank Arora |
7.323 |
5.687 |
|
Total |
38.994 |
24.985 |
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10442535 |
19/07/2013 |
850,000.00 |
STATE BANK OF BIKANER AND JAIPUR |
INDUSTRIAL AREA, BIKANER, RAJASTHAN - 334001, INDIA |
B81919227 |
|
2 |
10357975 |
10/05/2012 |
11,500,000.00 |
STATE BANK OF BIKANER AND JAIPUR |
INDUSTRIAL AREA, BIKANER, RAJASTHAN - 334001, INDIA |
B40547176 |
|
3 |
10320145 |
04/11/2011 |
881,000.00 |
STATE BANK OF BIKANER AND JAIPUR |
INDUSTRIAL AREA, BIKANER, RAJASTHAN - 334001, INDIA |
B26295915 |
|
4 |
10320150 |
04/11/2011 |
3,000,000.00 |
STATE BANK OF BIKANER AND JAIPUR |
INDUSTRIAL AREA, BIKANER, RAJASTHAN - 334001, INDIA |
B26299115 |
|
5 |
10312466 |
08/07/2013 * |
30,000,000.00 |
STATE BANK OF BIKANER AND JAIPUR |
INDUSTRIAL AREA, BIKANER, RAJASTHAN - 334001, INDIA |
B82620915 |
|
6 |
10312478 |
28/09/2011 |
4,500,000.00 |
STATE BANK OF BIKANER AND JAIPUR |
INDUSTRIAL AREA, BIKANER, RAJASTHAN - 334001, INDIA |
B23333891 |
* Date of charge modification
FIXED ASSETS
- Land
- Building
- Plant and Machinery
- Motor Cycle
- Computer
- Air Conditioner
- Furniture
- Car
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.62.63 |
|
|
1 |
Rs.101.06 |
|
Euro |
1 |
Rs.84.56 |
INFORMATION DETAILS
|
Report Prepared
by : |
NTH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--MARGINS |
-5~5 |
3 |
|
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 |
|
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.