|
Report Date : |
22.10.2013 |
IDENTIFICATION DETAILS
|
Name : |
GNET TRADELINKS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
R-724, T.T.C. Industrial Area, M.I.D.C., Rabale, Navi Mumbai – 400
701, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
21.06.2000 |
|
|
|
|
Com. Reg. No.: |
11-127297 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.6.392
millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U51900MH2000PTC127297 |
|
|
|
|
IEC No.: |
0300028750 |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCG2249M |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject is engaged in the business of trading multiple products mainly
comprising Polymers Granules, Medium Density Fibre (MDF) Board, Decorative
Boards, etc. |
|
|
|
|
No. of Employees
: |
Information declined by the Management. |
RATING & COMMENTS
|
MIRA’s Rating : |
B (29) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 245000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having moderate track record. The ratings take into consideration, the subject’s weak profitability
indicators due to fluctuation in foreign exchange rates and a leveraged
capital structure during 2013. However, trade relations are fair. Business is active. Payment terms
are reported as slow but correct. In view of promoter’s extensive experience and long standing
relationships with its diversified customer base, the company can be
considered for business dealings 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.
INDIAN ECONOMIC OVERVIEW
India’s current
account deficit or CAD in April-June widened to 4.9 % of gross domestic
product. High imports of gold and oil led to a worsening of the traqde deficit,
resulting in CAD jumping to $ 21.8 billion to the latest quarter from $ 16.9
billion in the corresponding quarter of the previous financial year. The
government aims to bring down CAD to 3.7 % or $ 70 billion, in 2013/14, from
4.8 % or $ 88.2 billion in 2012/13.
The finance ministry
has started preparations for Budget 2014/15. With general elections scheduled
to be held by May next year, there will only be an interim budget. The new
government will present the fiscal Budget.
The Supreme Court
has barred clinical trials for new drugs till a monitoring mechanism is put in
place to protect the lives of people on which the drugs are tested.
Mumbai has been
named the world’s second most honest city according to a survey on 15 cities
worldwide by Readers’ Digest magazine. Finnish capital Helsinki bagged the top
spot for the world’s most honest city while Lisbon, the capital of Portugal,
proved to be the least honest. The survey put hundreds of people to test
in four continents to find out just how honest they were by dropping wallets
and seeing how many would be returned.
3.7 % Growth of the
core sector in August, a seven month high. This takes the overall growth in
April-August this year to 2.3 % compared with 6.3 % in the corresponding period
next financial year.
$19 million
Estimated average spending by companies across the globe including India, on
social media this year, according to a global study by information technology
major Tata Consultancy Services. This will rise to $ 24 million in 2015.
Rising inflation,
fewer employment avenues and dwindling earnings are taking a toll on the
spending capacity in India. Over 72 % respondents from middle and lower middle
income families would be forced to slash their Diwali expenditure by 40 % and
on average spend nearly 25 % of their monthly salary on Diwali, according to a
survey by Assochem.
Analysts believe the
shutdown of the US government would have limited impact in sectors such as IT
or tourism that are dependent on Visa clearances.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
|
Rating |
Long Term Fund Based Limits: BB- |
|
Rating Explanation |
Moderate risk of default. |
|
Date |
June, 2013 |
|
Rating Agency Name |
ICRA |
|
Rating |
Short Term Non Fund Based Limits: A4 |
|
Rating Explanation |
Minimal degree of safety and very high credit risk. |
|
Date |
June, 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 DECLINED
Management non-cooperative
(Tel. No.: 91-22-27693527)
LOCATIONS
|
Registered Office/ Warehouse 1 : |
R-724, T.T.C. Industrial Area, M.I.D.C., Rabale, Navi Mumbai – 400
701, Maharashtra, India |
|
Tel. No.: |
91-22-27693527/ 64557391 to 99 |
|
Fax No.: |
91-22-27693528 |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
4100 sq. mtr. |
|
Location : |
Rented |
|
|
|
|
Warehouse 2 : |
Daga Estate, Block No.1600/B, Survey No.1031, 1036, 1037,
Opposite Pandiya H. School, Near Tulsi Hotel, Jaitalpur, Ahmedabad – 382 427,
Gujarat, India |
|
|
|
|
Warehouse 3 : |
3/45A, G.N.Y Road, Panjetty Village, Near Thachur Cross
Road, Ponneri Taluka, Thiruvallur District – 601 204, Tamilnadu,
India |
|
|
|
|
Warehouse 4 : |
2315/32, Rajiv Nagar, Opposite Payal Cinema, Kataria
Chowk, Gurgaon – 122 001, Haryana, India |
DIRECTORS
AS ON 27.07.2013
|
Name : |
Mr. Manoj Haricharan Sharma |
|
Designation : |
Director |
|
Address : |
104, Bluebell Vasant Valley Complex, Goregaon (East), Mumbai – 400
063, Maharashtra, India |
|
Date of Birth/Age : |
26.01.1961 |
|
Qualification : |
MBA |
|
Date of Appointment : |
26.06.2000 |
|
DIN No.: |
00041703 |
|
|
|
|
Name : |
Mr. Krishan Gopal Babu Lal Modi |
|
Designation : |
Director |
|
Address : |
B-503, Bhaktianugam Society, Kopar Khairane, Navi Mumbai – 400 709,
Maharashtra, India |
|
Date of Birth/Age : |
18.03.1967 |
|
Qualification : |
B. Com |
|
Date of Appointment : |
29.05.2009 |
|
DIN No.: |
02662829 |
|
|
|
|
Name : |
Mr. Satish Bindumadhav Kulkarni |
|
Designation : |
Director |
|
Address : |
Flat No.6, 1st Floor, Hari Ashish CHS, Dombivali (East),
Thane – 421 204, Maharashtra, India |
|
Date of Birth/Age : |
23.11.1955 |
|
Date of Appointment : |
12.04.2011 |
|
DIN No.: |
03502865 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 27.07.2013
|
Names of Shareholders |
|
No. of Shares |
|
Manoj Sharma |
|
18 |
|
Dinesh P. Hindocha |
|
290680 |
|
Jaydeep Sethia |
|
98500 |
|
Sandeep Patwari |
|
1 |
|
Gnet Impex Private Limited |
|
250000 |
|
Ravindrsing Jain |
|
1 |
|
Total
|
|
639200 |
AS ON 27.07.2013
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
61.00 |
|
Bodies
corporate |
|
39.00 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in the business of trading multiple products mainly
comprising Polymers Granules, Medium Density Fibre (MDF) Board, Decorative
Boards, etc. |
GENERAL INFORMATION
|
No. of Employees : |
Information declined by the Management. |
||||||||||||||||||
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||||||||||||||||||
|
Bankers : |
|
||||||||||||||||||
|
|
|
||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Vijay Rungta and Company Chartered Accountants |
|
Address : |
4/88, Nityanand Nagar, S.N. Marg, Opposite Railway Station, Andheri
(East), Mumbai – 400 069, Maharashtra, India |
|
Tel. No.: |
91-22-26836687 |
|
PAN No.: |
AAAFV0164A |
|
|
|
|
Related Parties (As on 31.03.2012) : |
Gnet Impex Private Limited |
CAPITAL STRUCTURE
AS ON 27.07.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
750000 |
Equity Shares |
Rs.10/- each |
Rs.7.500 millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
639200 |
Equity Shares |
Rs.10/- each
|
Rs.6.392
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 |
6.392 |
3.892 |
3.892 |
|
(b) Reserves & Surplus |
54.925 |
32.322 |
27.510 |
|
(c) Money received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
0.000 |
17.500 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
61.317 |
53.714 |
31.402 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
0.968 |
0.000 |
0.099 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.006 |
|
(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) |
0.968 |
0.000 |
0.105 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
118.341 |
80.781 |
183.739 |
|
(b)
Trade payables |
139.358 |
67.604 |
29.310 |
|
(c)
Other current liabilities |
31.822 |
10.444 |
11.620 |
|
(d)
Short-term provisions |
0.083 |
0.011 |
4.115 |
|
Total
Current Liabilities (4) |
289.604 |
158.840 |
228.784 |
|
|
|
|
|
|
TOTAL |
351.889 |
212.554 |
260.291 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i)
Tangible assets |
3.464 |
2.521 |
2.610 |
|
(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 |
0.020 |
0.020 |
0.020 |
|
(c) Deferred tax assets
(net) |
0.151 |
0.018 |
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 |
3.635 |
2.559 |
2.630 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
10.000 |
|
(b)
Inventories |
159.346 |
95.642 |
123.198 |
|
(c)
Trade receivables |
134.283 |
80.043 |
75.227 |
|
(d)
Cash and cash equivalents |
21.586 |
16.023 |
21.713 |
|
(e)
Short-term loans and advances |
32.249 |
18.097 |
26.584 |
|
(f)
Other current assets |
0.790 |
0.190 |
0.939 |
|
Total
Current Assets |
348.254 |
209.995 |
257.661 |
|
|
|
|
|
|
TOTAL |
351.889 |
212.554 |
260.291 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from Operations |
NA |
528.972 |
528.084 |
|
|
|
Other Income |
NA |
2.706 |
7.748 |
|
|
|
TOTAL (A) |
NA |
531.678 |
535.832 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Purchases of Stock-in-Trade |
NA |
387.188 |
484.312 |
|
|
|
Changes in Inventories |
NA |
27.556 |
(86.169) |
|
|
|
Employees Benefits Expenses |
NA |
9.090 |
9.104 |
|
|
|
Other Expenses |
NA |
88.150 |
108.267 |
|
|
|
TOTAL (B) |
NA |
511.984 |
515.514 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
NA |
19.694 |
20.318 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
NA |
12.246 |
13.935 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
NA |
7.448 |
6.383 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
NA |
0.623 |
0.559 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX (E-F) (G) |
11.375 |
6.825 |
5.824 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
3.772 |
2.013 |
1.793 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
7.603 |
4.812 |
4.031 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’
BALANCE BROUGHT FORWARD |
16.550 |
11.738 |
7.707 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
24.153 |
16.550 |
11.738 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
11.89 |
12.47 |
10.29 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
NA
|
0.91 |
0.75 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
NA
|
1.29 |
1.10 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
3.23
|
3.21 |
2.24 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.19
|
0.13 |
0.19 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
1.95
|
1.50 |
5.85 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.20
|
1.32 |
1.13 |
LOCAL AGENCY FURTHER INFORMATION
Details of Current Maturities:
|
Particulars |
31.03.2013 (Rs. in millions) |
31.03.2012 (Rs. in millions) |
31.03.2011 (Rs. in millions) |
|
Current Maturities
of Motor Car Loan from HDFC Bank |
NA |
NA |
2.977 |
|
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 |
No |
|
9) Name of person contacted |
No |
|
10) Designation of contact person |
No |
|
11) Turnover of firm for last two 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 |
No |
|
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 |
31.03.2013 (Rs.
in Millions) |
31.03.2012 (Rs.
in Millions) |
|
SHORT TERM
BORROWINGS |
|
|
|
Loan from
Related Parties – Payable on Demand |
|
|
|
Gnet Impex Private Limited |
NA |
3.227 |
|
Payable on
Demand |
|
|
|
Ravindra Jain |
NA |
15.504 |
|
Total
|
NA |
18.731 |
INDEX OF CHARGES:
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10075880 |
21/02/2011 * |
250,000,000.00 |
CANARA BANK |
OVERSEAS MAIN
BRANCH, MUMBAI, MUMBAI, MAHARASHTRA |
B09630633 |
* Date of charge modification
FIXED ASSETS:
·
Electronic Weighing
Machine OE
·
Mobile and Telephone OE
·
Office Equipment OE
·
Refrigerator OE
·
Testing Machine OE
·
UPS OE
·
Washing Machine OE
·
Weighing Scale OE
·
Computer
·
Generator
·
Air Conditioner
·
Leasehold Development
·
Portable Fire
Extinguisher
·
Motor 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 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.61.49 |
|
|
1 |
Rs.99.41 |
|
Euro |
1 |
Rs.84.12 |
INFORMATION DETAILS
|
Information
Gathered by : |
PDT |
|
|
|
|
Report Prepared
by : |
SMN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
4 |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTERS |
|
|
|
--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.