MIRA
INFORM REPORT
|
Report Date : |
30.04.2014 |
IDENTIFICATION DETAILS
|
Name : |
MEDIASCOPE PUBLICITAS (INDIA) PRIVATE LIMITED (w.e.f. 19.12.2001) |
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Formerly Known
As : |
MEDIASCOPE PROMOTION NETWORK ( |
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Registered
Office : |
51, Doli Chambers, 5th Floor, Off Arthur Bunder Road,
Colaba, Mumbai – 400 005, Maharashtra |
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Country : |
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Financials (as
on) : |
31.03.2013 |
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Date of
Incorporation : |
11.10.2000 |
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Com. Reg. No.: |
11-129111 |
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Capital
Investment / Paid-up Capital : |
Rs.5.000 millions |
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CIN No.: [Company Identification
No.] |
U72900MH2000PTC129111 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
MUMM14560A |
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PAN No.: [Permanent Account No.] |
AACCM5115F |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Providing Media Concession and Publicators. |
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No. of Employees
: |
150 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (28) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
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Maximum Credit Limit : |
USD 595000 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established
company having moderate track record. Company has
incurred loss from its operation in the year 2013. However, trade
relation are fair. Business is active. Payment terms are slow but correct. The company can
be considered for business dealing 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
US investment bank
Goldman Sachs has upgraded its outlook on Indian markets as it expects
positive impact of the election cycle.
India’s economy may
grow 4.7 % in the current financial year, lower than the official estimate of
4.9 %, Fitch Rating said. The global rating agency expects the economy to pick
up in the next two financial years.
Global ratings
agency Standard & Poor said increasing focus by India Inc on lowering debt
is likely to improve their credit profiles.
Singapore (1.1
million Indian tourists in 2012), Thailand (one million), the United Arab
Emirates ().98 million) and Malaysia ().82 million) emerged as the preferred
holidays hotspots for Indians. The total figure is expected to increase to 1.93
million by 2017, according to the latest Eurmonitor international report.
There is a $29.34 bn
outward foreign direct investment by domestic companies between April and
January of 2013/14 which has seen some signs of recovery according to a Care
Ratings report.
There are 264 number
of new companies being set up every day on average during 2014. Most of them
are registered in Mumbai. India had 1.38 million registered companies at the
end of January, 2014.
Twitter like
messaging service Weibo Corporation has filed to raise $ 500 million via a US
initial public offering. Alibaba, which owns a stake in Weibo is expected to
raise about $ 15 billion New York this year in the highest profile Internet IPO
since Facebook’s in 2012.
Bharti Airtel has
raised Rs.2,453.2 crore (350 million Swiss Francs) by selling six-year bonds at
a coupon rate of three per cent and maturing in 2020. This is the largest ever
bond offering by an Indian company in Swiss Francs. Bharat Petroleum
Corporation raised 175 million Swiss Francs by selling five year bonds at 2.98
% coupon rate in February.
Indian Oil
Corporation plans to invest Rs 7650 crore in setting up a petrochemical complex
at its almost complete Paradip refinery in Odhisha in three to four years. The
company board is set to consider the setting up of a 700000 tonne per annum
polypropylene plant at an estimated cost at Rs.3150 crore.
Global chief
information officers at gathering in Bangalore in April to meet Indian startups
at an event called Tech50 Watchout for Little Eye Labs-Facebook type deals in
the making.
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. Girish Sharma |
|
Designation : |
Accounts Executive |
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Contact No.: |
91-22-61377400 |
|
Date : |
28.04.2014 |
LOCATIONS
|
Registered Office/ Corporate Office : |
51, Doli Chambers, 5th Floor, Off Arthur Bunder Road,
Colaba, Mumbai – 400 005, Maharashtra, India |
|
Tel. No.: |
91-22-22048890/ 61377400/ 22881401 |
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Fax No.: |
91-22-61377400/ 22824889 |
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E-Mail : |
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Website : |
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Location : |
Owned |
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Locality : |
Commercial |
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Extension Office for the Head Office : |
402, Doli Chambers Arthur Bunder Road, Colaba, Mumbai – 400 005,
Maharashtra, India |
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Branch Office : |
Located at: ·
·
· Chennai |
DIRECTORS
AS ON 23.08.2013
|
Name : |
Mr. Marzban Burjor Patel |
|
Designation : |
Managing Director |
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Address : |
P-1, Glenelg, 11, Damani House, Cuffe Parade, Mumbai – 400 005, Maharashtra, India |
|
Date of Birth/Age : |
13.02.1960 |
|
Date of Appointment : |
11.10.2000 |
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DIN No.: |
00060636 |
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Name : |
Mrs. Anita Marzban Patel |
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Designation : |
Alternate Director of Mr. Petrikowski Rudiger Gert |
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Address : |
P-1, Glenelg, 11, Damani House, Cuffe Parade, Mumbai – 400 005, Maharashtra, India |
|
Date of Appointment : |
25.07.2012 |
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DIN No.: |
00060638 |
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Name : |
Mr. Manish Anilkumar Mehta |
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Designation : |
Alternate Director of Mr. Johannes Christoph Braun |
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Address : |
38-A-8, Arvasu Co-Operative Housing Society, 2nd Floor, 1st Road, T.P.S. VI, Santacruz (West), Mumbai – 400 054, Maharashtra, India |
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Date of Birth/Age : |
23.07.1963 |
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Date of Appointment : |
12.08.2013 |
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DIN No.: |
02721588 |
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Name : |
Mr. Petrikowski Rudiger Gert |
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Designation : |
Director |
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Address : |
Kirschenackerweg,
22, 3063, Ittigen, Ittigen,
3063, Switzerland |
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Date of Birth/Age : |
08.01.1966 |
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Date of Appointment : |
12.09.2012 |
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DIN No.: |
05339701 |
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Name : |
Mr. Johannes Christoph Braun |
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Designation : |
Director |
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Address : |
Atlenhoferstresse, 12,
Zurich, Switzerland |
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Date of Birth/Age : |
11.08.1975 |
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Date of Appointment : |
23.08.2013 |
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DIN No.: |
06655977 |
KEY EXECUTIVES
|
Name : |
Mr. Girish Sharma |
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Designation : |
Accounts Executive |
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Name : |
Yogesh Dalvi and Associates |
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Designation : |
Company Secretaries |
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Address : |
92A, 1st Floor, Sunrays Shopping Center, Near Apna Bazar,
Charkop Market Junction, Kandivali (West), Mumbai – 400 067, Maharashtra,
India |
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Mobile No.: |
91-9867649941 |
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E-Mail : |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 23.08.2013
|
Names of Shareholders |
No. of Shares |
Percentage of Holding |
|
Marzban B. Patel |
87500 |
17.50 |
|
Anita M. Patel jointly with Marzban B. Patel |
87500 |
17.50 |
|
Publicitas Asia Holdings Limited, Hong Kong |
325000 |
65.00 |
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Total
|
500000 |
100.00 |
%20PRIVATE%20LIMITED%20-%20265254_MIRA%2030-Apr-2014_files/image002.gif)
AS ON 23.08.2013
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Equity Share Breakup |
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Percentage of Holding |
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Category |
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Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
65.00 |
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Directors
or relatives of directors |
|
35.00 |
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Total |
|
100.00 |
BUSINESS DETAILS
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Line of Business : |
Providing Media Concession and Publicators. |
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Products/ Services : |
·
Business Media Solutions ·
Travel Media Solutions ·
GCC Media Solutions |
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Terms : |
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Selling : |
Cash and Credit |
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Purchasing : |
Cash and Credit |
GENERAL INFORMATION
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Customers : |
End Users |
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No. of Employees : |
150 (Approximately) |
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Bankers : |
Citibank, Mumbai, Maharashtra, India |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Rahul Gautam Divan and Associates Chartered Accountants |
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Address : |
C/o. Midsnell, 134, Mittal Tower ‘C’, Nariman Point, Mumbai – 400 021,
Maharashtra, India |
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Tel. No.: |
91-22-66324991/ 66324992 |
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Fax No.: |
91-22-22875374 |
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E-Mail : |
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PAN No.: |
AADFR9025P |
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Holding Company : |
Publicitas Asia Holdings Limited, Hong Kong |
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Fellow Subsidiaries : |
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Enterprises over which significant influence exercised by Directors : |
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CAPITAL STRUCTURE
AS ON 23.08.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
500000 |
Equity Shares |
Rs.10/- each |
Rs.5.000 millions |
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|
|
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
500000 |
Equity Shares |
Rs.10/- each |
Rs.5.000 millions |
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|
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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 |
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(1) Shareholders' Funds |
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(a) Share Capital |
5.000 |
5.000 |
5.000 |
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(b) Reserves & Surplus |
143.705 |
146.839 |
126.914 |
|
(c) Money received against share warrants |
0.000 |
0.000 |
0.000 |
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|
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(2) Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
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Total
Shareholders’ Funds (1) + (2) |
148.705 |
151.839 |
131.914 |
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|
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(3) Non-Current
Liabilities |
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|
|
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(a) Long-term borrowings |
0.000 |
0.000 |
0.000 |
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(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(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) |
0.000 |
0.000 |
0.000 |
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(4) Current Liabilities |
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(a)
Short term borrowings |
53.247 |
0.168 |
0.000 |
|
(b)
Trade payables |
282.499 |
317.701
|
200.473 |
|
(c)
Other current liabilities |
32.111 |
19.147
|
19.786 |
|
(d) Short-term
provisions |
0.000 |
0.000
|
0.000 |
|
Total Current
Liabilities (4) |
367.857 |
337.016 |
220.259 |
|
|
|
|
|
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TOTAL |
516.562 |
488.855 |
352.173 |
|
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II.
ASSETS |
|
|
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|
(1) Non-current assets |
|
|
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(a) Fixed Assets |
|
|
|
|
(i)
Tangible assets |
25.382 |
14.443 |
14.889 |
|
(ii)
Intangible Assets |
0.429 |
0.367 |
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 |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
1.605 |
1.598 |
1.492 |
|
(d) Long-term Loan and Advances |
75.484 |
37.313 |
4.875 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
102.900 |
53.721 |
21.256 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
0.000 |
0.000
|
0.000 |
|
(c)
Trade receivables |
358.599 |
375.147
|
277.703 |
|
(d) Cash
and cash equivalents |
28.049 |
46.607
|
46.273 |
|
(e)
Short-term loans and advances |
27.014 |
13.380 |
6.780 |
|
(f)
Other current assets |
0.000 |
0.000 |
0.161 |
|
Total
Current Assets |
413.662 |
435.134 |
330.917 |
|
|
|
|
|
|
TOTAL |
516.562 |
488.855 |
352.173 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
|
350.481 |
390.235 |
316.493 |
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL |
350.481 |
390.235 |
316.493 |
|
|
|
(Due to market fluctuation) |
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||
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|
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Office Expenses |
353.749 |
360.417 |
286.243 |
|
|
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Administrative Expenses |
|
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|
|
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Advertising Expenses |
|
|
|
|
|
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TOTAL |
353.749 |
360.417 |
286.243 |
|
|
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|
|
|
|
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|
PROFIT / (LOSS)
BEFORE TAX |
(3.140) |
29.818 |
30.250 |
|
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|
|
|
|
|
|
|
|
TAX |
(0.907) |
9.893 |
10.167 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX |
(3.134) |
19.925 |
20.083 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Commission Income |
62.518 |
113.136 |
86.815 |
|
|
TOTAL EARNINGS |
62.518 |
113.136 |
86.815 |
|
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|
|
|
|
|
|
|
|
Earnings/ (Loss)
Per Share (Rs.) |
(6.27) |
39.85 |
40.57 |
|
%20PRIVATE%20LIMITED%20-%20265254_MIRA%2030-Apr-2014_files/image003.gif){kind=small}
%20PRIVATE%20LIMITED%20-%20265254_MIRA%2030-Apr-2014_files/image004.gif){kind=small}
Note:
There is a typo error in the 2013 director’s report. The figure
mentioned in the directors report is Profit after tax of Rs.3.134 millions
whereas the correct figure should be Loss After Tax of Rs.(3.134) millions (Confirmed
by the Management).
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
(0.89) |
5.11
|
6.35 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(0.61) |
6.12
|
8.63 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.02) |
0.20
|
0.23 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.36 |
0.00
|
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.12 |
1.29
|
1.50 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(INR in Mlns.) |
(INR in Mlns.) |
(INR in Mlns.) |
|
Share Capital |
5.000 |
5.000 |
5.000 |
|
Reserves & Surplus |
126.914 |
146.839 |
143.705 |
|
Net worth |
131.914 |
151.839 |
148.705 |
|
|
|
|
|
|
Long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
0.000 |
0.168 |
53.247 |
|
Total borrowings |
0.000 |
0.168 |
53.247 |
|
Debt/Equity ratio |
0.000 |
0.001 |
0.358 |
%20PRIVATE%20LIMITED%20-%20265254_MIRA%2030-Apr-2014_files/image006.gif)
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(INR in Mlns) |
(INR in Mlns) |
(INR in Mlns) |
|
Total Income |
316.493 |
390.235 |
350.481 |
|
|
|
23.300 |
(10.187) |
%20PRIVATE%20LIMITED%20-%20265254_MIRA%2030-Apr-2014_files/image008.gif)
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(INR in Mlns) |
(INR in Mlns) |
(INR in Mlns) |
|
Total Income |
316.493 |
390.235 |
350.481 |
|
Profit |
20.083 |
19.925 |
(3.134) |
|
|
6.35% |
5.11% |
(0.89%) |
%20PRIVATE%20LIMITED%20-%20265254_MIRA%2030-Apr-2014_files/image010.gif)
LOCAL AGENCY FURTHER INFORMATION
Details of Current Maturities of Long Term
Debt: Not Available
|
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% |
Yes |
|
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 |
Yes |
|
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 |
No |
OPERATIONS/ WORKING
RESULTS:
The total income of the
Company for the year is amounted to Rs.350.481
millions as compared to Rs.390.235
millions for the year 2011-12. After deducting total expenditure of Rs.353.749 millions the Company has
earned a profit after tax of Rs.3.134
millions.
FIXED ASSETS:
Tangible Assets
· Furniture and Fixtures
· Computers
· Vehicles
· Office Equipments
· OOH Properties
Intangible Assets
· Computer Software
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.60.52 |
|
UK Pound |
1 |
Rs.101.77 |
|
Euro |
1 |
Rs.83.92 |
INFORMATION DETAILS
|
Information
Gathered by : |
PLK |
|
|
|
|
Analysis Done by
: |
SUM |
|
|
|
|
Report Prepared
by : |
SMN |
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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
28 |
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.