|
Report Date : |
07.10.2013 |
IDENTIFICATION DETAILS
|
Name : |
R.M.G ELECTROMECH PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
No.41, Kereguddadahalli, Chikkabanavara, Kammagondahalli Main Road,
Bangalore - 560090, Karnataka |
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|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
30.07.1997 |
|
|
|
|
Com. Reg. No.: |
08-022593 |
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|
|
|
Capital
Investment / Paid-up Capital : |
Rs.6.890 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U31909KA1997PTC022593 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
BLR01148A |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
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|
|
|
Line of Business
: |
Manufacturer of a Process Control Equipment and Instrument / Cyclic
Test System. |
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|
|
|
No. of Employees
: |
110 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 110000 |
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|
|
|
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 satisfactory track record.
Trade relations are reported as fair. Business is active. Payments are reported
to be usually correct and as per commitments. 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 – 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
We are living in a world
where volatility and uncertainty have become the New Normal. We saw a
change of government in countries like Tunisia, Egypt, Libya and Vietnam. Once
powerful countries in Europe are now fighting for bankruptcy. We have
taken growth in the developing part of the world for granted but economic
growth in China and India has begun to slow. Companies that were synonymous
with their product categories just a few years ago are now no longer in
existence. Kodak, the inventor of the digital camera had to wind up its
operations, HMV, the British entertainment retailing company and Borders, once
the second largest bookstore have shut down due to their inability to evolve
their business models with the changing time. Readers’ Digest, Thomson Register
are no more !
There is another
megatrend happening. The World order is changing as economic power shifts from
West to East. According to McKinsey study, it took Britain more than 100 years
to double its economic output per person during its industrial revolution and the
US later took more than 50 years to do the same. More than a century later,
China and India have doubled their GDP per capital in 12 and 18 years
respectively. By 2020, emerging Asia will become the world’s largest consuming
block, overtaking North America.
The years after the
outbreak of the global financial crisis, the world economy continues to remain
fragile. The Indian economy demonstrated remarkable resilience in the initial
years of the contagion but finally lost ground last year. GDP growth slowed
down. Currency has been weakening. There is a marked deceleration in
agriculture, industry and services. Dampening sentiment led to a cut-back in
investment as well as private consumption expenditure. Inflation remained
at high levels fuelled by the pressure from the food and fuel sectors. The
large fiscal and current account deficit s continued to cause grave concern. It
is imperative that India regains its growth trajectory of 8-9 % sooner than
later. This is crucially important given the need to create gainful livelihood
opportunities for the millions living in poverty as also the large contingent
of young people joining the job market every year.
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 (GENERAL DETAILS)
|
Name : |
Mr. Mattappallil Jose |
|
Designation : |
Director |
|
Contact No.: |
91-9341216734 |
|
Date : |
25.09.2013 |
LOCATIONS
|
Registered Office/ Factory : |
No.41 and 42, Smr Layout, Kereguddadahalli, chikkabanavara P. O
Bangalore -560090, Karnataka, India |
|
Tel. No.: |
91-80-23253325/ 28389481/ 23253326/ 23253327/ 23253329 |
|
Fax No.: |
91-80-23253328/28389204 |
|
E-Mail : |
|
|
Location : |
Owned |
DIRECTORS
As on: 27.09.2012
|
Name : |
Mr. Mattappallil Jose |
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|
Designation : |
Director |
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|
Address : |
No.5, Smr Layout, Kereguddadahalli, Chikkabanavara, |
|||||||||||||||||||||||||||
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Date of Birth/Age : |
25.01.1952 |
|||||||||||||||||||||||||||
|
Date of Appointment : |
04.01.1988 |
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DIN No.: |
00359656 |
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|
|||||||||||||||||||||||||||
|
Name :** |
Kalaimathi Gunasekaran |
|||||||||||||||||||||||||||
|
Designation : |
Director |
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|
Address : |
No.14, 3rd Main, 1st Cross, M.S.R
Road, VR Layout, Bangalore North, Bangalore – 560012, Karnataka, India |
|||||||||||||||||||||||||||
|
Date of Birth/Age : |
15.03.1961 |
|||||||||||||||||||||||||||
|
Date of Appointment : |
01.04.1999 |
|||||||||||||||||||||||||||
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DIN No.: |
00360139 |
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|
Other Directorship :
|
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MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 27.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
Mattappallil Jose |
|
318000 |
|
Girija Ravindran |
|
53000 |
|
Kalaimathi Gunasekaran |
|
318000 |
|
|
|
|
|
Total |
|
689000 |
Equity Share Break up (Percentage of Total Equity)
As on: 27.09.2012
|
Category |
|
Percentage |
|
Directors or relatives of directors |
|
100.00 |
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of a Process Control Equipment and Instrument / Cyclic
Test System. |
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|
|
Exports : |
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Products : |
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Countries : |
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Exports : |
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Products : |
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Countries : |
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Terms : |
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Selling : |
Cash and Credit |
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Purchasing : |
Cash and Credit |
GENERAL INFORMATION
|
No. of Employees : |
110 (Approximately) |
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Bankers : |
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|||||||||||||||
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Facilities : |
(Rs.
In Millions)
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
YCRJ and Associates Chartered Accountants |
|
Address : |
No.174/1, 1st Floor, 1st Main, Sheshadripuram, Bangalore – 560020, Karnataka, India |
|
PAN No.: |
AABFR5231K |
CAPITAL STRUCTURE
As on: 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1000000 |
Equity Shares |
Rs.10/- each |
Rs.10.000 millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
689000 |
Equity Shares |
Rs.10/- each |
Rs.6.890 millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2012 |
31.03.2011 |
|
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
6.890 |
2.120 |
|
(b) Reserves & Surplus |
|
21.177 |
18.958 |
|
(c) Money received against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
|
0.000 |
0.000 |
|
Total Shareholders’
Funds (1) + (2) |
|
28.067 |
21.078 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
|
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
|
0.000 |
0.000 |
|
(c) Other long term liabilities |
|
0.000 |
0.000 |
|
(d) long-term provisions |
|
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
|
0.000 |
0.000 |
|
|
|
|
|
|
(4) Current
Liabilities |
|
|
|
|
(a) Short term borrowings |
|
5.727 |
9.764 |
|
(b) Trade payables |
|
19.845 |
15.282 |
|
(c) Other current liabilities |
|
5.442 |
1.837 |
|
(d) Short-term provisions |
|
0.000 |
0.000 |
|
Total Current
Liabilities (4) |
|
31.014 |
26.883 |
|
|
|
|
|
|
TOTAL |
|
59.081 |
47.961 |
|
|
|
|
|
|
ASSETS |
|
|
|
|
(1) Non-current
assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
6.040 |
6.565 |
|
(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) |
|
0.096 |
0.079 |
|
(d) Long-term Loan and Advances |
|
0.000 |
0.000 |
|
(e) Other Non-current assets |
|
0.000 |
0.000 |
|
Total Non-Current
Assets |
|
6.136 |
6.644 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
0.000 |
0.000 |
|
(b) Inventories |
|
19.758 |
16.234 |
|
(c) Trade receivables |
|
28.801 |
21.894 |
|
(d) Cash and cash equivalents |
|
1.057 |
0.842 |
|
(e) Short-term loans and advances |
|
3.235 |
2.140 |
|
(f) Other current assets |
|
0.094 |
0.207 |
|
Total Current Assets |
|
52.945 |
41.317 |
|
|
|
|
|
|
TOTAL |
|
59.081 |
47.961 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
2.120 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
16.640 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
18.760 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
2.307 |
|
|
2] Unsecured Loans |
|
|
3.178 |
|
|
TOTAL BORROWING |
|
|
5.485 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
24.245 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
6.139 |
|
|
Capital work-in-progress |
|
|
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.000 |
|
|
DEFERREX TAX ASSETS |
|
|
0.083 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
11.265
|
|
|
Sundry Debtors |
|
|
13.625
|
|
|
Cash & Bank Balances |
|
|
0.379
|
|
|
Other Current Assets |
|
|
0.000
|
|
|
Loans & Advances |
|
|
0.336
|
|
Total
Current Assets |
|
|
25.605
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
7.470
|
|
|
Other Current Liabilities |
|
|
0.112
|
|
|
Provisions |
|
|
0.000
|
|
Total
Current Liabilities |
|
|
7.582
|
|
|
Net Current Assets |
|
|
18.023
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
24.245 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
110.034 |
74.666 |
58.721 |
|
|
|
Other Income |
0.000 |
0.200 |
0.232 |
|
|
|
TOTAL |
110.034 |
74.866 |
58.953 |
|
|
|
|
|
|
|
|
|
DEPRECIATION/
AMORTISATION |
0.854 |
0.812 |
0.800 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
2.218 |
2.318 |
1.052 |
|
|
|
|
|
|
|
|
|
|
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
18.958 |
16.640 |
15.588 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
21.176 |
18.958 |
16.640 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
3.22 |
NA |
NA |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
2.02 |
3.10 |
1.78 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.20 |
0.46 |
0.29 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.71 |
1.53 |
3.38 |
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 |
UNSECURED LOAN
(Rs.
In Millions)
|
Particular |
As on 31.03.2012 |
As on 31.03.2011 |
|
SHORT TERM
BORROWINGS |
|
|
|
From Directors |
1.084 |
5.878 |
|
|
|
|
|
Total |
1.084 |
5.878 |
OPERATIONS DURING THE
YEAR :
The Company has crossed the Rs.100.000 Millions milestone for the first time with an above 45% growth in sales. Record launch of 11 new products during the year have been well accepted by their clients and another 3 products are under development to be shortly released for production.
However, during the year, one of the Directors Mr. C.V. Gopinathan retired on 31st August 2012 for personal reasons. He offered to sell his equity shares of the company to all the shareholders of the company equally. During the Board Meeting on transfer of shares, Mrs. Girija Ravindran said she was not interested in the purchase of any shares and hence the total shares held by Mr. C.V. Gopinathan were purchased by Mr. Jose Mattappallil and Mrs. Kalaimathi Gunasekaran equally, following due procedures as per Company's Act 1956.
The Share Value was arrived at by taking care of the present market value of the Assets and also adding a 'goodwill' of the company for the next 5 years sales at an average calculated by their CA. Mr. C.V Gopinathan was fully satisfied and agreed to the above share price.
To increase the Working Capital, Rights Issue were offered to all the Share Holders of the Company and only two shareholders namely Mrs Kalamathi Gunasekaran and. Mr. Jose Mattappallil subscribed to the Rights Issue. Each of the directors purchased 4,77,000 shares @ of Rs 10 per share.
During this year there was an unfortunate development that one of the Directors Mrs. Girija Ravindran went ahead and filed two cases against the Company and the other two Directors.
One of the shareholders Mrs. Kalaimathi Gunasekaran who holds above 46% share in the company was unhappy about the conduct of Mrs. Girija Ravindran on various counts and requested for an Extraordinary General Body Meeting to remove the latter from the directorship of the company. Accordingly an EGM was called following due procedures. The meeting was held on the 09th May 2012 and removed Mrs. Girija Ravindran from the Directorship of the company as per Company's Act 1956, Section 284 (4).
CURRENT OUT LOOK:
The Company is expected to make a growth of 15-20% during this current financial year 2012-2013. With the launch of the company website and the new products added, the Company forecasts satisfactory turnover and profitability in the ensuing financial years. Barring industrial slow down or global recession the Company has great scope to explore and exploit both the Indian and global markets in the field of Process Control and Instrumentation.
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
80047352 |
19/04/2012 * |
14,500,000.00 |
STATE BANK OF INDIA |
SME BRANCH, NO.45, 2ND STAGE, PEENYA INDUSTRIAL AREA, BANGALORE, KARNATAKA - 560058, INDIA |
B38954038 |
* Date of charge modification
FIXED ASSETS:
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.61.51 |
|
|
1 |
Rs.99.29 |
|
Euro |
1 |
Rs.83.68 |
INFORMATION DETAILS
|
Information
Gathered by : |
NAY |
|
|
|
|
Report Prepared
by : |
VRN |
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 |
5 |
|
--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 |
|
45 |
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.