()
|
Report Date : |
26.11.2013 |
IDENTIFICATION DETAILS
|
Name : |
HANBIT AUTOMATION TECHNOLOGIES PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Plot No.45, DLR Enclave, Madhavapuri, Sainikpuri, Secunderabad – 500094,
Andhra Pradesh |
|
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|
|
Country : |
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|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
20.05.2011 |
|
|
|
|
Com. Reg. No.: |
074599 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.0.500 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U31900AP2011PTC074599 |
|
|
|
|
IEC No.: |
0911027319 |
|
|
|
|
PAN No.: [Permanent Account No.] |
AACCH6824L |
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|
|
|
Legal Form : |
Private Limited Liability Company |
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|
|
|
Line of Business
: |
Manufacturer, Design and Development of AMR (Automatic Meter Reading),
Home Automation, RO Automation. |
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|
|
|
No. of Employees
: |
30 (Approximately) |
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 23000 |
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|
|
|
Status : |
Small Company |
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|
|
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Payment Behaviour : |
Slow but correct |
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|
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Litigation : |
Clear |
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|
|
Comments : |
Subject is a successor of a proprietary concern established in the
year 2010 name as “Hanbit Solutions”. Later as on 2011 it got converted into a private limited company Subject is a small company in its field. Its scale of a activities are
limited. Management has failed to file its financials with the government
department since inception. As per the latest financials of 2013, sources from indirect source, the
overall position of the company appears to be improving, marked by an
increase in its sales turnover as well as net profitability during 2013. The
position of net worth appears to be low. However, trade relations are fair. Business is active. Payments are
reported as slow but correct. The subject can be considered for small 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 – March 31st, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
|
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 – NSIC |
|
Rating |
SE BB |
|
Rating Explanation |
Moderate Financial Strength and Moderate
performance capability. |
|
Date |
31.08.2013 |
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.
INFORMATION PARTED BY
|
Name : |
Mr. Phani Kumar Varanasi |
|
Designation : |
Chief Executive Office |
|
Contact No.: |
91-9866305554 |
|
Date : |
22.11.2013 |
LOCATIONS
|
Registered/ Head Office/ Factory : |
Plot No.45, DLR Enclave, Madhavapuri, Sainikpuri, Secunderabad –
500094, Andhra Pradesh, India |
|
Tel. No.: |
91-40-42024433 |
|
Mobile No.: |
91-9866305554 (Mr. Phani Kumar Varanasi) |
|
Fax No.: |
91-40-42024433 |
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E-Mail : |
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|
Website : |
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|
Area : |
2600 sq. ft. |
|
Location : |
Owned |
|
|
|
|
Branch Office : |
Located at: · Bangalore · Mumbai |
|
Area : |
Apprx.1K sq. ft. |
|
Location : |
Leased |
|
|
|
|
London Office : |
56, Aames Road, Portsmouth, Uk PO1 5QG |
|
Tel No.: |
+44-7741100004 |
|
Email : |
DIRECTORS
|
Name : |
Mr. Guda Janaki Devi |
|
Designation : |
Director |
|
Address : |
H. No.3/249, KRR Nagar, 1st Street, Padugupadu, Kovur (Mandal),
Nellore – 524137, Andhra Pradesh, India |
|
Date of Birth/Age : |
20.05.1957 |
|
DIN No.: |
03439914 |
|
|
|
|
Name : |
Mr. Guda Venkata Naga Sulochana
Rani |
|
Designation : |
Director |
|
Address : |
G-2, Sai Vijaya Resi., P No.283, Dayanand Nagar, Malkajgiri,
Secunderabad – 500074, Andhra Pradesh India |
|
Date of Birth/Age : |
01.08.1978 |
|
Qualification : |
Bachelor of Commerce |
|
Experience : |
10 years |
|
DIN No.: |
03438802 |
|
|
|
|
Name : |
Mr. Golluri Mohan |
|
Designation : |
Director |
|
Address : |
H. No.40-259, Raghavendra Nagar, Moulai, Hyderabad – 500040, Andhra
Pradesh India |
|
Date of Birth/Age : |
30.09.1977 |
|
Qualification : |
Engineering Graduate |
|
Experience : |
15 years |
|
DIN No.: |
03438861 |
|
|
|
|
Name : |
Mr. Navnit Chachan |
|
Designation : |
Director |
|
Address : |
Plot 114, 3rd Floor, Jubilee Hills, Navinirmana Nagar,
Hyderabad – 500033, Andhra Pradesh, India |
|
Date of Birth/Age : |
18.02.1974 |
|
Qualification : |
IIT, Delhi |
|
Experience : |
18 years |
|
Date of Appointment : |
24.08.2012 |
|
DIN No.: |
0003596 |
|
|
|
|
Name : |
Mr. Valluri Venkata Hanuma Srinivasa Murthy |
|
Designation : |
Director |
|
Address : |
6-3-661/1/K/1/2 and 3, Aditya Pride Apartments, Punjagutta, Hyderabad
– 500082, Andhra Pradesh, India |
|
Date of Birth/Age : |
19.05.1963 |
|
Qualification : |
M. Tech in Electrical Engineering |
|
Experience : |
25 years |
|
Date of Appointment : |
24.08.2012 |
|
DIN No.: |
00472571 |
KEY EXECUTIVES
|
Name : |
Mr. Phani Varanasi |
|
Designation : |
Chief Executive Office |
|
Address : |
345/1, DLR Enclave, Sainkpuri, Secunderabad, Andhra Pradesh, India |
|
Date of Birth/Age : |
24.08.1975 |
|
Qualification : |
Electronics and communications Engg and MBA Marketing |
|
Experience : |
18 years |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
(AS ON 11.05.2011)
|
Names of Shareholders |
|
No. of Shares |
|
|
|
|
|
Guda Sulochana Rani |
|
16500 |
|
V. V. H. S. Murthy |
|
12500 |
|
Navnit Chanchan |
|
12500 |
|
|
|
|
|
Total |
|
41500 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer, Design and Development of AMR (Automatic Meter Reading),
Home Automation, RO Automation. |
|
|
|
|
Exports : |
|
|
Products : |
AMR |
|
Countries : |
· Europe · Middle East and Africa |
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|
|
|
Imports : |
|
|
Products : |
Electronic Components |
|
Countries : |
· USA · Singapore · China |
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|
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Terms : |
|
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Selling : |
L/C, Cash and Credit (30-60 days) |
|
|
|
|
Purchasing : |
Cash and Credit (30-60-90 days) |
PRODUCTION STATUS (AS ON 31.03.2013)
|
Particulars |
|
Installed
Capacity |
Actual
Production |
|
Gas AMR |
|
100 day |
1500 |
|
Water AMR |
|
-- |
5000+ |
|
Electricity |
|
-- |
1000 |
|
Building Management systems |
|
-- |
4 |
|
MDAD – 777 |
|
-- |
25 |
GENERAL INFORMATION
|
Customers : |
OEM’s · Sensus · Radiocrafts |
|
|
|
|
No. of Employees : |
30 (Approximately) |
|
|
|
|
Bankers : |
· Indian Overseas Bank ECIL X Road Branch |
|
|
|
|
Facilities : |
-- |
|
|
|
|
Banking
Relations : |
-- |
|
|
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|
Auditors : |
|
|
Name : |
M M Reddy and Company Chartered Accountants |
|
Address : |
G-8, Amrutha Ville, Opposite Yashodha Hospital, Rajbhavan Road,
Somajiguda, Hyderabad – 500082, Andhra Pradesh, India |
|
Tel No.: |
91-40-40272617 |
|
Fax No.: |
91-40-23418836 |
|
Email : |
CAPITAL STRUCTURE
(AS ON 31.03.2013)
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
50000 |
Equity Shares |
Rs.10/- each |
Rs.0.500 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
50000 |
Equity Shares |
Rs.10/- each |
Rs.0.500 Million |
|
|
|
|
|
FINANCIAL DATA
[All figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2013 |
31.03.2012 |
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
0.500 |
0.100 |
|
(b) Reserves & Surplus |
|
0.405 |
0.074 |
|
(c) Money received against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money
pending allotment |
|
4.750 |
0.810 |
|
Total
Shareholders’ Funds (1)+(2) |
|
5.655 |
0.984 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
|
0.500 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
|
0.091 |
0.007 |
|
(c) Other long
term liabilities |
|
0.000 |
0.000 |
|
(d) long-term
provisions |
|
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
|
0.591 |
0.007 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
|
0.000 |
0.000 |
|
(b)
Trade payables |
|
11.854 |
1.243 |
|
(c)
Other current liabilities |
|
0.506 |
0.328 |
|
(d) Short-term
provisions |
|
0.166 |
0.026 |
|
Total Current
Liabilities (4) |
|
12.526 |
1.597 |
|
|
|
|
|
|
TOTAL |
|
18.772 |
2.588 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
|
1.139 |
0.153 |
|
(ii)
Intangible Assets |
|
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
|
0.000 |
0.000 |
|
(iv)
Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
0.000 |
0.000 |
|
(e) Other
Non-current assets |
|
0.000 |
0.000 |
|
Total Non-Current
Assets |
|
1.139 |
0.153 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
|
0.000 |
0.000 |
|
(b)
Inventories |
|
2.694 |
2.367 |
|
(c)
Trade receivables |
|
14.788 |
0.046 |
|
(d) Cash
and cash equivalents |
|
0.151 |
0.022 |
|
(e) Short-term
loans and advances |
|
0.000 |
0.000 |
|
(f)
Other current assets |
|
0.000 |
0.000 |
|
Total
Current Assets |
|
17.633 |
2.435 |
|
|
|
|
|
|
TOTAL |
|
18.772 |
2.588 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Turnover (Gross) |
|
22.396 |
2.300 |
|
|
|
Other Income |
|
0.000 |
0.000 |
|
|
|
TOTAL (A) |
|
22.396 |
2.300 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Increase/ (Decrease) in stock |
|
(0.327) |
(2.359) |
|
|
|
Cost of Materials Consumed |
|
17.185 |
3.135 |
|
|
|
Direct Expenses |
|
1.038 |
0.161 |
|
|
|
Personal Cost |
|
3.156 |
0.917 |
|
|
|
Administration and selling Expenses |
|
0.637 |
0.312 |
|
|
|
TOTAL (B) |
|
21.689 |
2.166 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
|
0.707 |
0.134 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES (D) |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
|
0.707 |
0.134 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
|
0.145 |
0.027 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
|
0.562 |
0.107 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
|
0.231 |
0.033 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
|
0.331 |
0.074 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
|
0.074 |
0.000 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
|
0.405 |
0.074 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
|
6.62 |
7.38 |
|
KEY RATIOS
|
PARTICULARS |
|
|
31.03.2013 |
31.03.2012 |
|
PAT / Total Income |
(%) |
|
1.48 |
3.22 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
|
2.51 |
4.65 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
|
2.82 |
4.13 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
|
0.10 |
0.11 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
|
0.09 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
|
1.50 |
1.62 |
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 |
Yes |
|
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 two years |
Yes |
|
12] |
Profitability for last two years |
Yes |
|
13] |
Reasons for variation <> 20% |
----- |
|
14] |
Estimation for coming financial year |
Yes |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister concerns |
No |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
Yes |
|
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 |
No |
|
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 |
TRADE REFERENCE:
· Honeywell
· Semen
INDEX OF CHARGES: NO CHARGES EXIST FOR COMPANY
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 records 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.62.58 |
|
|
1 |
Rs.101.42 |
|
Euro |
1 |
Rs.84.70 |
INFORMATION DETAILS
|
Report Prepared
by : |
NIT |
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 |
-- |
|
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 |
|
29 |
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.