|
Report Date : |
20.11.2013 |
IDENTIFICATION DETAILS
|
Name : |
MEDISPEC INDIA LIMITED (28.09.2006) |
|
|
|
|
Formerly Known
As : |
MEDI SPEC INSTRUMENTS (INDIA) LIMITED (w.e.f.30.01.2003) MEDI SPEC INSTRUMENTS (INDIA) PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
601/A Wing, Lotus Corporate Park, 6th Floor, Off. Western
Express Highway Goregaon (East), Mumbai – 400 063, Maharashtra |
|
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|
Country : |
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|
|
|
Financials (as on)
: |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
31.07.1995 |
|
|
|
|
Com. Reg. No.: |
11-091242 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.2.400 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24230MH1995PLC091242 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMM20289D |
|
|
|
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PAN No.: [Permanent Account No.] |
AAACM5985D |
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|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
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|
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Line of Business
: |
Trader of Biomedical Equipment. |
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|
|
|
No. of Employees
: |
30 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (44) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 170000 |
|
|
|
|
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 satisfactory track record. There appears slight dip in profit of the company. However, overall
financial position of the company appears to be above average. Trade relations are reported to be fair. Business is active. Payment
terms are reported to be usually correct. The company can be considered for business dealing 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.
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.
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 : |
Mr. Ashish |
|
Designation : |
Finance Department |
|
Contact No.: |
91-22-28734567 |
|
Date : |
18.11.2013 |
LOCATIONS
|
Registered Office : |
601/A Wing, Lotus Corporate Park, 6th Floor, Off. Western
Express Highway Goregaon (East), Mumbai – 400 063, Maharashtra, India |
|
Tel. No.: |
91-22-28734567/ 28739944 |
|
Fax No.: |
91-22-28759944 |
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E-Mail : |
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|
Website : |
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|
Location : |
Owned |
|
|
|
|
Branch Office : |
Located at: ·
Ahmedabad ·
Bangalore ·
Hyderabad ·
Delhi ·
Kolkata ·
Pune ·
Lucknow ·
Chandigarh ·
Chennai |
DIRECTORS
AS ON 30.09.2013
|
Name : |
Mr. Vipul Kalyanji Chhatbar |
|
Designation : |
Director |
|
Address : |
201, Chetna, 142-143, J P Road, Andheri (West), Mumbai – 400 053,
Maharashtra, India |
|
Date of Birth/Age : |
21.08.1965 |
|
Date of Appointment : |
31.07.1995 |
|
DIN No.: |
00303376 |
|
|
|
|
Name : |
Mrs. Nikita Vipul Chhatbar |
|
Designation : |
Director |
|
Address : |
201, Chetna, 142-143, J P Road, Andheri (West), Mumbai – 400 053,
Maharashtra, India |
|
Date of Birth/Age : |
15.1969 |
|
Date of Appointment : |
15.12.1998 |
|
DIN No.: |
00303497 |
|
|
|
|
Name : |
Mrs. Bhanumati Kalyanji Chhatbar |
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Designation : |
Director |
|
Address : |
208, Chetna, 142-143, J P Road, Andheri (West), Mumbai – 400 053,
Maharashtra, India |
|
Date of Birth/Age : |
08.09.1932 |
|
Date of Appointment : |
18.12.2002 |
|
DIN No.: |
00303543 |
KEY EXECUTIVES
|
Name : |
Mr. Ashish |
|
Designation : |
Finance Department |
MAJOR SHAREHOLDERS
AS ON 30.09.2013
|
Names of Shareholders |
|
No. of Shares |
|
Vipul K. Chhatbar |
|
3007 |
|
Nikita V. Chhatbar |
|
1760 |
|
Bhanumati K. Chhatbar |
|
25 |
|
K S Chhatbar |
|
2 |
|
Jeetnedra Mohare |
|
2 |
|
Gopal Krishna Iyer |
|
2 |
|
Sonali Gopal Krishna Iyer |
|
2 |
|
|
|
|
|
Total |
|
4800 |
Equity Share Break up (Percentage of Total Equity)
AS ON 30.09.2013
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Trader of Biomedical Equipment. |
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|
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Imports : |
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Products : |
Finished Goods |
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Countries : |
·
USA ·
Belgium |
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Terms : |
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Selling : |
Cash and Credit |
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Purchasing : |
Cash, Credit and Depend |
GENERAL INFORMATION
|
No. of Employees : |
30 (Approximately) |
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Bankers : |
·
Dhanlaxmi Bank Limited, Dhanlakshmi Bank
Building, Naickanal, Trichur – 680 001, Kerala, India ·
Indusland Bank Limited, 03/103, Accord Nidhi, Link
Road, Malad (West), Mumbai – 400 064, Maharashtra, India ·
The Greater Bombay Co-operative Bank Limited, Sea
Pearl Apartments, Off. J. P. Road, Opposite Pratap Colony, 7 Bungalows,
Versova, Mumbai – 400 058, Maharashtra, India ·
ICICI Bank Limited, Landmarkrace Cource Circle,
Alkapuri, Baroda – 390 015, Gujarat, India |
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Facilities : |
NOTES: 1)
The car loans are repayable in 36 equal monthly
installments of Rs.0.009 Million having interest of 10.12%. The loan is
secured by the hypothecation of motor cars. 2)
The car loans are repayable in 59 equal monthly
installments of Rs.0.036 Million having interest of – The loan is secured by
the hypothecation of motor cars. 3)
Equitable mortgage of A/G02, at 'Lotus Corporate
Park' Graham Firth Steel Camp, Western Express Highway, Goregoan (East),
Transfer from Dhanlaxmi outlander to Indusland. 4)
The car Loan are repayable in 83 equal monthly
installment of Rs.0.050 Million having interest of 10.50%. The Loan is
secured by hypothecation of motor car. |
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Banking
Relations : |
-- |
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|
|
|
Auditors : |
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|
Name : |
Rohira Mehta and Associates Chartered Accountants |
|
Address : |
B-202, 2nd Floor, Grand Bella Vista, Near Jari Mari temple,
S. V. Road, Bandra (West), Mumbai – 400 050, Maharashtra, India |
|
Tel. No.: |
91-22-42084500 |
|
Fax No.: |
91-22-42084501 |
|
E-Mail : |
CAPITAL STRUCTURE
AS ON 30.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
6000 |
Equity Shares |
Rs. 500/- each |
Rs.3.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4800 |
Equity Shares |
Rs. 500/- each |
Rs.2.400 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 |
2.400 |
2.400 |
2.400 |
|
(b) Reserves & Surplus |
40.220 |
32.010 |
26.470 |
|
(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) |
42.620 |
34.410 |
28.870 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
72.230 |
28.442 |
1.233 |
|
(b) Deferred tax liabilities (Net) |
1.469 |
0.829 |
0.256 |
|
(c) Other long term liabilities |
0.317 |
0.317 |
0.317 |
|
(d) long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current Liabilities (3) |
74.016 |
29.588 |
1.806 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
3.500 |
3.500 |
1.500 |
|
(b) Trade payables |
10.309 |
13.214 |
16.573 |
|
(c) Other current
liabilities |
13.507 |
4.652 |
2.822 |
|
(d) Short-term provisions |
8.057 |
11.075 |
3.292 |
|
Total Current Liabilities (4) |
35.373 |
32.441 |
24.187 |
|
|
|
|
|
|
TOTAL |
152.009 |
96.439 |
54.863 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
54.812 |
53.060 |
26.146 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
0.000 |
0.000 |
0.000 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.278 |
0.100 |
0.100 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
1.203 |
2.384 |
1.730 |
|
(e) Other Non-current assets |
0.000 |
0.379 |
0.205 |
|
Total Non-Current Assets |
56.293 |
55.923 |
28.181 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.178 |
0.178 |
|
(b) Inventories |
3.849 |
5.725 |
7.842 |
|
(c) Trade receivables |
23.211 |
20.019 |
7.497 |
|
(d) Cash and cash
equivalents |
53.519 |
7.600 |
5.359 |
|
(e) Short-term loans and
advances |
4.108 |
0.157 |
0.400 |
|
(f) Other current assets |
11.029 |
6.837 |
5.406 |
|
Total Current Assets |
95.716 |
40.516 |
26.682 |
|
|
|
|
|
|
TOTAL |
152.009 |
96.439 |
54.863 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
71.864 |
73.659 |
89.400 |
|
|
|
Other Income |
40.904 |
30.802 |
5.083 |
|
|
|
TOTAL (A) |
112.768 |
104.461 |
94.483 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
55.448 |
49.066 |
41.485 |
|
|
|
Employee Benefits Expenses |
15.746 |
11.880 |
10.220 |
|
|
|
Other Expenses |
20.525 |
21.839 |
27.845 |
|
|
|
TOTAL (B) |
91.719 |
82.785 |
79.550 |
|
|
|
|
|
|
|
|
Less |
PROFIT/(LOSS)
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
21.049 |
21.676 |
14.933 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
5.208 |
3.703 |
0.461 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
15.841 |
17.973 |
14.472 |
|
|
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION (F) |
3.924 |
3.936 |
2.218 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX (E-F) (G) |
11.917 |
14.037 |
12.254 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
3.706 |
4.530 |
4.052 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
AFTER TAX (G-H) (I) |
8.211 |
9.507 |
8.202 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
1710.54 |
1980.66 |
1708.79 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
7.28
|
9.10 |
8.68 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
16.58
|
19.06 |
13.71 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
7.92
|
15.00 |
23.20 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.28
|
0.41 |
0.42 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
1.78
|
0.93 |
0.09 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.71
|
1.25 |
1.10 |
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 |
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 |
No |
|
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 |
NOTE:
·
Long Term Maturity Debt is Not Available
·
Registered office address of the company has been
shifted from Unit No.223, Linkway Estate, New Link Road, Malad (West), Mumbai –
400 064, Maharashtra, India to the present address w.e.f. 01.11.2013
UNSECURED LOANS:
|
Particulars |
31.03.2013 Rs. In Millions |
31.03.2012 Rs. In Millions |
|
Short Term Borrowings |
|
|
|
Loans repayable on Demand |
|
|
|
Loan from
Directors |
3.500 |
3.500 |
|
|
|
|
|
Total |
3.500 |
3.500 |
INDEX OF CHARGE:
|
Sr. No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10403281 |
30/01/2013 |
63,268,000.00 |
INDUSIND BANK LIMITED |
03/103, ACCORD NIDHI, LINK ROAD, MALAD (W), MUMBAI – 400 064, MAHARASHTRA, INDIA |
B68237569 |
|
2 |
10396387 |
28/12/2012 |
35,000,000.00 |
INDUSIND BANK LIMITED |
INDUSIND BANK LIMITED, 03/103, ACCORD NIDHI, LINK ROAD, MALAD (W), MUMBAI – 400 064, MAHARASHTRA, INDIA |
B65684847 |
FIXED ASSETS:
·
Air Conditioner
·
Computers
·
Furniture and Fixture
·
Motor car
·
Office Equipment
·
Printer
·
Stabiliser
·
Office Premises at Mumbai
·
Office Premises at
Hyderabad
·
Office Premises at New
Mumbai
·
Office Premises at Delhi
·
Office Premises at Bhiwandi
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.62.23 |
|
|
1 |
Rs.100.18 |
|
Euro |
1 |
Rs.84.06 |
INFORMATION DETAILS
|
Information
Gathered by : |
PDT |
|
|
|
|
Report Prepared
by : |
NKT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
|
|
|
|
TOTAL |
|
44 |
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.