MIRA
INFORM REPORT
|
Report Date : |
10.12.2014 |
IDENTIFICATION DETAILS
|
Name : |
DYNA GLYCOLS PRIVATE LIMITED |
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Registered
Office : |
106/108, Shivam Chambers, |
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Country : |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
01.09.2006 |
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Com. Reg. No.: |
11-164262 |
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Capital
Investment / Paid-up Capital : |
Rs.4.000 Millions |
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CIN No.: [Company Identification
No.] |
U24119MH2006PTC164262 |
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|
TAN No.: [Tax Deduction &
Collection Account No.] |
mumD14428B |
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PAN No.: [Permanent Account No.] |
Not Available |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer and Exporter of Pharmaceuticals Chemicals. |
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No. of Employees
: |
Information declined by the management. |
RATING & COMMENTS
|
MIRA’s Rating : |
B (28) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
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 a moderate track record. Management has reported low profit margin during 2014. However, trade relations are fair. Business is active. Payments are reported
to be slow but correct. The company can be considered for business dealing with some caution. Note: The company has recorded different figure denoting profit in its
Director Report’s as well as Balance Sheet and its Schedules. No clarification has been received from Mr. Fransis, the concern
person of the subject company. So, we are considering the Balance Sheet
figure in order to successfully rate the company. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
Not Available |
|
Rating |
Not Available |
|
Rating Explanation |
Not Available |
|
Date |
Not Available |
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
31-03-2014.
INFORMATION DENIED BY
|
Name : |
Mr. Fransis |
|
Designation : |
Not Divulged |
|
Contact No.: |
91-22-26764099 |
|
Date : |
08.12.2014 |
LOCATIONS
|
Registered Office : |
106/108, Shivam Chambers, |
|
Tel. No.: |
91-22-26764099/26764172/73 |
|
Mobile No.: |
91-9833992569 [Mr. Francises] 91-9909008957 [Mr. G. S. Mariya] |
|
Fax No.: |
91-22-26764054 |
|
E-Mail : |
ykdesai@mtnl.net.in hildose@vsnl.com dynaglyco@vsnl.net |
|
Area : |
2500 Sq. ft |
|
Location : |
Owned |
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|
|
Factory : |
Plot No. 260-B, Sector 4, SEZ, kandla, Gandhidham-370220, |
|
Tel No.: |
91-2836-253086/87/658201 |
|
Location : |
Owned |
DIRECTORS
AS ON 30.09.2014
|
Name : |
Mr. Zubin Keki Gandhi |
|
Designation : |
Director |
|
Address : |
½ MH Hari Niwas 1st Floor, |
|
Date of Birth/Age : |
30.11.1968 |
|
Date of Appointment : |
10.01.2007 |
|
Din No.: |
00664632 |
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|
|
|
Name : |
Kersi Homi Tangri |
|
Designation : |
Director |
|
Address : |
Flat No. 5, Fiona, |
|
Date of Birth/Age : |
03.12.1963 |
|
Date of Appointment : |
01.09.2006 |
|
Din No.: |
01215877 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2014
|
Names of Shareholders |
No. of Shares |
|
Kersi Homi Tangri |
95000 |
|
Zubin Keki Gandhi |
95000 |
|
Mahesh Hakmichand Doshi |
95000 |
|
Amol Ashok Walke |
95000 |
Equity Share Break up (Percentage of Total Equity)
AS ON 30.09.20134
|
Category |
Percentage |
|
Directors or relatives of Directors |
47.50 |
|
Other top fifty shareholders |
52.50 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Pharmaceuticals Chemicals. |
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Brand Names : |
Not Divulged |
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Agencies Held : |
Not Divulged |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
Not Divulged |
PRODUCTION STATUS (AS ON 31.03.2013)
|
Particulars |
Unit |
Actual
Production |
|
CO 40 |
Kg. |
198920 |
|
NP 15 |
Kg. |
129199 |
|
CSA AFO |
Kg. |
257729 |
|
F 68 |
Kg. |
197137 |
|
LA7 |
Kg. |
108953 |
|
OCA 10 |
Kg. |
148552 |
|
PEG 300 |
Kg. |
398647 |
|
TDA 55 |
Kg. |
303166 |
|
CSA MAFA |
Kg. |
230339 |
|
OA2570(2EHA.2570) |
Kg. |
139932 |
|
TDA 09 |
Kg. |
146911 |
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Others |
Kg. |
-- |
GENERAL INFORMATION
|
Supplier : |
Not Divulged |
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Customer : |
Not Divulged |
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No. of Employees : |
Information declined by the management. |
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Bankers : |
The Zoroastrian Co-Operative
Bank Limited, Shop No.6, Onkar, Opposite Oberoi Mall, Dindoshi, Film City
Road, Goregaon East, Mumbai - 400097, Maharashtra, India |
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Facilities : |
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Banking
Relations : |
-- |
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Financial Institution: |
·
Tata Capital Financial Services Limited, One
Forbes, Dr. V. B. Gandhi Marg, Fort, Mumbai - 400001, Maharashtra, India ·
3i Infotech Trusteeship Services Limited, 3rd To
6th Floor, International Infotech Park, Tower No.5, Vashi Railway Station
Complex, Vashi, Navi Mumbai - 400703, Maharashtra, India |
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|
|
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Auditors : |
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|
Name : |
B Y and Associates Chartered Accountants |
|
Address : |
510-513, Apeejay House, 130, Mumbai Samachar Marg, Fort, Mumbai –
400023, Maharashtra, India |
|
PAN N Income-tax PAN of auditor or auditor's firm : |
AAFFB0462N |
CAPITAL STRUCTURE
AS ON 31.03.2014
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 |
|
|
|
|
|
|
400000 |
Equity Shares |
Rs.10/- each |
Rs. 4.000
Millions |
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|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
4.000 |
4.000 |
4.000 |
|
(b) Reserves & Surplus |
41.224 |
37.094 |
33.140 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
45.224 |
41.094 |
37.140 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
12.802 |
16.802 |
26.893 |
|
(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 |
3.723 |
2.612 |
0.000 |
|
Total Non-current Liabilities (3) |
16.525 |
19.414 |
26.893 |
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(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
78.943 |
69.768 |
41.085 |
|
(b) Trade payables |
44.720 |
63.601 |
57.662 |
|
(c) Other current
liabilities |
0.129 |
3.299 |
3.510 |
|
(d) Short-term provisions |
0.607 |
1.175 |
0.000 |
|
Total Current Liabilities (4) |
124.399 |
137.843 |
102.257 |
|
|
|
|
|
|
TOTAL |
186.148 |
198.351 |
166.290 |
|
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|
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II.
ASSETS |
|
|
|
|
(1) Non-current assets |
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|
|
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(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
49.118 |
51.787 |
56.656 |
|
(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 |
0.010 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
0.129 |
0.165 |
0.161 |
|
(d) Long-term Loan and Advances |
4.516 |
3.176 |
1.267 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
53.773 |
55.128 |
58.084 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
104.542 |
87.389 |
51.833 |
|
(c) Trade receivables |
13.546 |
37.333 |
52.118 |
|
(d) Cash and cash
equivalents |
2.169 |
5.565 |
2.922 |
|
(e) Short-term loans and
advances |
12.118 |
12.936 |
1.333 |
|
(f) Other current assets |
0.000 |
0.000 |
0.000 |
|
Total Current Assets |
132.375 |
143.223 |
108.206 |
|
|
|
|
|
|
TOTAL |
186.148 |
198.351 |
166.290 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
464.104 |
402.977 |
416.346 |
|
|
|
Other Income |
0.735 |
0.500 |
0.128 |
|
|
|
TOTAL (A) |
464.839 |
403.477 |
416.474 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of material consumed |
404.849 |
369.262 |
357.758 |
|
|
|
Changes in inventories of finished goods work in progress and stock in trade |
(8.504) |
(23.982) |
(3.672) |
|
|
|
Employees benefits expenses |
8.580 |
6.263 |
6.855 |
|
|
|
Other Expenses |
35.712 |
31.711 |
32.057 |
|
|
|
TOTAL (B) |
440.637 |
383.254 |
392.998 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
24.202 |
20.223 |
23.476 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
11.929 |
7.731 |
7.103 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
12.273 |
12.492 |
16.373 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
6.951 |
7.486 |
8.204 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
5.322 |
5.006 |
8.169 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
1.193 |
1.052 |
1.396 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
4.129 |
3.954 |
6.773 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
20.689 |
33.140 |
26.367 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
24.818 |
20.689 |
33.140 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
118.921 |
119.147 |
107.207 |
|
|
|
|
|
|
|
|
|
|
Earnings Per Share
(Rs.) |
10.32 |
9.89 |
16.93 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
Net Profit Margin |
(%) |
0.89 |
0.98 |
1.63 |
|
|
|
|
|
|
|
Operating Profit Margin |
(%) |
5.21 |
5.02 |
5.64 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.86 |
2.53 |
4.92 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth)S |
|
0.12 |
0.12 |
0.22 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
2.03 |
2.11 |
1.83 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.06 |
1.04 |
1.06 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Millions) |
(Rs. In Millions) |
(Rs. In Millions) |
|
Share Capital |
4.000 |
4.000 |
4.000 |
|
Reserves & Surplus |
33.140 |
37.094 |
41.224 |
|
Net worth |
37.140 |
41.094 |
45.224 |
|
|
|
|
|
|
long-term borrowings |
26.893 |
16.802 |
12.802 |
|
Short term borrowings |
41.085 |
69.768 |
78.943 |
|
Total borrowings |
67.978 |
86.570 |
91.745 |
|
Debt/Equity ratio |
1.830 |
2.107 |
2.029 |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Millions) |
(Rs. In Millions) |
(Rs. In Millions) |
|
Sales |
416.346 |
402.977 |
464.104 |
|
|
|
(3.211) |
15.169 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Millions) |
(Rs. In Millions) |
(Rs. In Millions) |
|
Sales |
416.346 |
402.977 |
464.104 |
|
Profit |
6.773 |
3.954 |
4.129 |
|
|
1.63% |
0.98% |
0.89% |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES
OF LONG-TERM DEBT DETAILS:
|
Particulars |
31.03.2014 (Rs.
In Millions) |
31.03.2013 (Rs.
In Millions) |
31.03.2012 (Rs.
In Millions) |
|
Current maturities of long-term debt |
NA |
0.000 |
0.000
|
|
|
|
|
|
|
Total |
NA |
0.000 |
0.000
|
|
Sr. No. |
Check List by Info Agents |
Available in
Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
Yes |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
No |
|
9] |
Name of person contacted |
Yes |
|
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 |
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
|
PARTICULARS |
31.03.2014 (Rs.
in Millions) |
31.03.2013 (Rs.
in Millions) |
|
Long-term
Borrowings |
|
|
|
Loans and advances: |
|
|
|
From Others Terms of payment have not been stipulated |
1.468 |
1.468 |
|
Short-term
borrowings |
|
|
|
from Banks: Standard Chartered Bank |
34.189 |
25.566 |
|
ICICI Bank |
1.167 |
0.000 |
|
Total |
36.824 |
27.034 |
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10434671 |
06/03/2014 * |
35,000,000.00 |
TATA CAPITAL FINANCIAL SERVICES LIMITED |
ONE FORBES,, DR. V. B. GANDHI MARG, FORT, MUMBAI, |
C00880823 |
|
2 |
10420700 |
24/12/2013 * |
40,000,000.00 |
THE ZOROASTRIAN CO-OPERATIVE BANK LIMITED |
SHOP NO 6 ONKAR OPP OBEROI MALL, DINDOSHI ,FILM C |
B96679873 |
FIXED ASSETS
Tangible Assets
·
Buildings
·
Wip
·
Civil Work
·
Plant And Machinery
·
Chilling Plant
·
Nitrogen Plant
·
Transportation and Inst ( P And Pump)
·
Stores and Spares
·
Boiler
·
Effluent Treatment Plant
·
Tank
·
Electrification
·
Fire Safety Equipments
·
Lab Equipment
·
Office Equipments
·
Furniture and Fixtures
·
Air Conditioner
·
Fork Lift
·
Computer
·
Vehicles
·
Digital Camera
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.61.93 |
|
|
1 |
Rs.96.37 |
|
Euro |
1 |
Rs.76.10 |
INFORMATION DETAILS
|
Information
Gathered by : |
HTL |
|
|
|
|
Analysis done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
SNT |
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 |
1 |
|
--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 |
NO |
|
--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.