MIRA INFORM REPORT
|
Report Date : |
11.09.2013 |
IDENTIFICATION DETAILS
|
Name : |
BLISS ANAND PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
10/17, Basement, Nehru Enclave, Kalkaji, |
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Country : |
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|
|
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Financials (as
on) : |
31.03.2012 |
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|
Date of
Incorporation : |
21.04.1975 |
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|
Com. Reg. No.: |
55-007735 |
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|
|
Capital
Investment / Paid-up Capital : |
Rs.44.108 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74899DL1975PTC007735 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
DELB07953B / DELB00313F |
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|
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PAN No.: [Permanent Account No.] |
AAACB4798B |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer of High quality Field Instrumentation for Power and
Process Industries and venture into the Nuclear Power Sector. |
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|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (33) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 431000 |
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|
Status : |
Moderate |
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|
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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|
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Comments : |
Subject is an established company having moderate track record. The
profitability of the company seems to be low. The external borrowing seems to
be increasing over years. However, trade relations are reported to be fair. Business is active.
Payments are reported to be slow but correct. 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.
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
We are living in a world
where volatility and uncertainty have become the New Normal. We saw a
change of government in countries like
There is another
megatrend happening. The World order is changing as economic power shifts from
West to East. According to McKinsey study, it took
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
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Cash Credit B+ |
|
Rating Explanation |
Having high risk of default regarding timely
servicing of financial obligation. |
|
Date |
March 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 : |
10/17, Basement, Nehru Enclave, Kalkaji, |
|
Tel. No.: |
Not Available |
|
Fax No.: |
Not Available |
|
E- Mail : |
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|
Website : |
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|
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Factory 1 : |
92B-93B, Sector 5, IMT Manesar, Gurgaon, Haryana, India |
|
Tel. No.: |
91-124-4366000 |
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Fax No.: |
91-124-2290884 |
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E-Mail : |
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Factory 2 : |
Po No.240, Sector-3, Growth Centre, HSIIDC, Bawal, |
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E-Mail : |
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Factory 3 : |
Global Engg.
Solution FZCO P.O. Box : 18576, RA 08, WF 04, Jebel Ali free zone, Dubai, U.A.E. |
|
Tel. No.: |
00971-4-8835633 |
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Fax No.: |
00971-4-8835644 |
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E-Mail : |
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Factory 4 : |
Bliss Anand 6614, |
|
Tel. No.: |
+1-281-537-7813 |
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E-Mail : |
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Sales Offices : |
Located at : ·
·
·
Navi Mumbai ·
Vadodara · Gurgaon ·
·
Chennai ·
·
|
DIRECTORS
AS ON 25.09.2012
|
Name : |
Mr. Prem Anand |
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|
Designation : |
Director |
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|
Address : |
A-134, Sushant Lok, Gurgaon – 122 001, |
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Date of Birth/Age : |
12.11.1942 |
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Date of Appointment : |
21.04.1975 |
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DIN No.: |
00486013 |
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Other Directorship:
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|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Name : |
Mr. Vikas Anand |
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|
Designation : |
Director |
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|
Address : |
A-134, Sushant Lok, Gurgaon – 1220 001, |
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Date of Birth/Age : |
22.10.1972 |
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Date of Appointment : |
01.12.1995 |
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DIN No.: |
00486074 |
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Other Directorship:
|
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MAJOR SHAREHOLDERS
AS ON 25.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
Prem Anand |
|
782221 |
|
Triveni Anand |
|
58454 |
|
Vikas Anand |
|
598728 |
|
Kunal Anand |
|
966895 |
|
Gaurav Anand |
|
1696358 |
|
Prem Anand and Sons |
|
66631 |
|
Rachna Anand |
|
90000 |
|
Aarti Anand |
|
40975 |
|
Yuvraj Anand |
|
54946 |
|
Adyan Anand |
|
55578 |
|
|
|
|
|
Total |
|
4410786 |
Equity Share Break up (Percentage of Total Equity)
AS ON 25.09.2012
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of High quality Field Instrumentation for Power and
Process Industries and venture into the Nuclear Power Sector. |
|
|
|
|
Products : |
·
Glass Level Gauge ·
Gauge Valve ·
Magnetic Level Gauge ·
Instrument Chamber ·
Level Switch ·
Sight Flow Indicator ·
Safety Relief Valve Series 2600 ·
Safety Relief Valve Series 2700 ·
Safety Relief Valve Series 4200 ·
Farris Safety Relief Valves (Russian Version) ·
Complete Products Catalouge |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
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|
Bankers : |
·
Oriental Bank of Commerce, Overseas Branch,
Udhyog Vihar, Phase 5, Gurgaon – 122 001, ·
Citi Bank ·
ICICI Bank Limited ·
HDFC Bank Limited ·
Bank of ·
Bank of Rajasthan ·
Indian Bank ·
Punjab National Bank ·
Axis Bank ·
Standard Chartered Bank |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Facilities : |
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|
Banking
Relations : |
-- |
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Auditors : |
|
|
Name : |
Arun Virender and Company Chartered Accountants |
|
Address : |
5C/9, 2nd Floor, New |
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PAN No.: |
AABFA4174E |
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|
|
|
Group Companies: |
·
Badotherm Instruments Holland Private Limited CIN No.:
U95000DL2000PTC106269 ·
Kavita Anand Holdings Private Limited CIN No.:
U74140HR2006PTC036487 ·
Sulaiman Bliss Petrotech Private Limited CIN No.:
U11101DL2004PTC128703 |
CAPITAL STRUCTURE
AS ON 25.09.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
4500000 |
Equity Shares |
Rs.10/- each |
Rs.45.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
4410786 |
Equity Shares |
Rs.10/- each |
Rs.44.108 Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2012 |
31.03.2011 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
44.108 |
44.108 |
|
(b) Reserves & Surplus |
|
63.737 |
60.118 |
|
(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) |
|
107.845 |
104.226 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
143.619 |
47.486 |
|
(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) |
|
143.619 |
47.486 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
|
112.845 |
50.242 |
|
(b) Trade
payables |
|
54.191 |
48.686 |
|
(c) Other
current liabilities |
|
18.106 |
12.699 |
|
(d) Short-term
provisions |
|
2.201 |
1.195 |
|
Total Current
Liabilities (4) |
|
187.343 |
112.822 |
|
|
|
|
|
|
TOTAL |
|
438.807 |
264.534 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
|
145.846 |
111.200 |
|
(ii)
Intangible Assets |
|
1.136 |
1.421 |
|
(iii)
Capital work-in-progress |
|
0.000 |
0.000 |
|
(iv)
Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
24.045 |
24.045 |
|
(c) Deferred tax assets (net) |
|
0.480 |
0.145 |
|
(d) Long-term Loan and Advances |
|
0.000 |
0.000 |
|
(e) Other
Non-current assets |
|
0.000 |
0.000 |
|
Total Non-Current
Assets |
|
171.507 |
136.811 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
|
0.000 |
0.000 |
|
(b)
Inventories |
|
37.743 |
26.576 |
|
(c) Trade
receivables |
|
143.756 |
81.576 |
|
(d) Cash
and cash equivalents |
|
71.894 |
5.378 |
|
(e)
Short-term loans and advances |
|
10.864 |
8.575 |
|
(f) Other
current assets |
|
3.043 |
5.618 |
|
Total
Current Assets |
|
267.300 |
127.723 |
|
|
|
|
|
|
TOTAL |
|
438.807 |
264.534 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
44.108 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
58.350 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
102.458 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
56.064 |
|
|
2] Unsecured Loans |
|
|
3.266 |
|
|
TOTAL BORROWING |
|
|
59.330 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
161.788 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
90.751 |
|
|
Capital work-in-progress |
|
|
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
24.045 |
|
|
DEFERRED TAX ASSETS |
|
|
0.289 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
19.567 |
|
|
Sundry Debtors |
|
|
33.148 |
|
|
Cash & Bank Balances |
|
|
19.333 |
|
|
Other Current Assets |
|
|
1.868 |
|
|
Loans & Advances |
|
|
4.535 |
|
Total
Current Assets |
|
|
78.451 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
23.451 |
|
|
Other Current Liabilities |
|
|
4.796 |
|
|
Provisions |
|
|
3.586 |
|
Total
Current Liabilities |
|
|
31.833 |
|
|
Net Current Assets |
|
|
46.618 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.085 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
161.788 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
|
416.125 |
231.237 |
136.231 |
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL |
416.125 |
231.237 |
136.231 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
228.088 |
133.466 |
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
410.557 |
228.088 |
133.466 |
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS) BEFORE
TAX |
5.568 |
3.149 |
2.765 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
1.940 |
1.381 |
1.814 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
AFTER TAX |
3.628 |
1.768 |
0.951 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
0.82 |
0.40 |
0.21 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
0.87
|
0.76 |
0.70 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.34
|
1.31 |
1.63 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.05
|
0.03 |
0.03 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
2.38
|
0.94 |
0.58 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.42
|
1.13 |
2.46 |
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 |
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 LOANS:
|
Particulars |
31.03.2012 Rs. In Millions |
31.03.2011 Rs. In Millions |
|
LONG TERM BORROWINGS |
|
|
|
LOANS AND ADVANCES FROM RELATED PARTIES |
|
|
|
Kavita Anand Holdings
Private Limited |
10.923 |
17.008 |
|
Kunal Anand |
4.608 |
0.821 |
|
Vikas Anand |
0.385 |
2.105 |
|
Prem Anand |
28.889 |
0.129 |
|
OTHERS |
|
|
|
Nidhi Manocha |
0.000 |
0.200 |
|
Puneet Chadha |
0.250 |
0.000 |
|
Pooja Revri |
1.500 |
0.000 |
|
Rajesh Revri |
0.900 |
0.000 |
|
S K Revri |
0.700 |
0.000 |
|
Vaneet Chadha |
0.250 |
0.000 |
|
TOTAL |
48.405 |
20.263 |
INDEX OF CHARGES:
|
Sr .No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10013844 |
03/05/2012
* |
266,500,000.00 |
ORIENTAL
BANK OF COMMERCE |
OVERSEAS
BRANCH, UDYOG VIHAR, PHASE V, GURGAON –
122 001, |
B39784863 |
|
2 |
90044089 |
14/02/2004 |
9,800,000.00 |
ICICI
BANK LIMITED |
|
- |
* Date
of charge modification
FIXED ASSETS:
·
Computer
·
Air Conditioner
·
Electronic Equipments
·
LCD Sony
·
Fax Machine
·
Furniture and Fixture
·
Electrical Fittings
·
Mobile Phone – BB
·
Office Equipments
·
Building
·
Printer
·
·
Vehicle
·
Machinery
·
Tools and Tackles
·
Generator
·
Projector
·
Pattern
·
Scanner
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.64.22 |
|
|
1 |
Rs.100.83 |
|
Euro |
1 |
Rs.85.21 |
INFORMATION DETAILS
|
Report Prepared
by : |
NKT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--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 |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
33 |
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
unfavorable 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.