MIRA INFORM REPORT
|
Report Date : |
20.12.2014 |
IDENTIFICATION DETAILS
|
Name : |
KINJAL DIGITAL IMAGING SOLUTIONS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
15, Radhe Industrial Estate, Near |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
09.06.2003 |
|
|
|
|
Com. Reg. No.: |
04-042476 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.5.000 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U72200GJ2003PTC042476 |
|
|
|
|
IEC No.: |
Not Available |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
Not Available |
|
|
|
|
Legal Form : |
Private Limited Liability Company. |
|
|
|
|
Line of Business
: |
Manufacture of Digital Printing Ink. |
|
|
|
|
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 |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having moderate track record. The rating reflects company moderate financial risk profile marked by
low profit margin and increased in the borrowings of the company during 2014. However, trade relations are reported as fair. Business is active.
Payments terms 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 – September 30, 2014
|
Country Name |
Previous Rating (30.06.2014) |
Current Rating (30.09.2014) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
EXTERNAL AGENCY RATING
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. Mahesh |
|
Designation : |
Admin Manager |
|
Contact No.: |
91-9227711994 |
|
Date : |
18.12.2014 |
LOCATIONS
|
Registered Office : |
15, Radhe Industrial Estate, Near |
|
Tel. No.: |
Not Available |
|
Mobile No.: |
91-9227711994 |
|
Fax No.: |
Not Available |
|
E-Mail : |
DIRECTORS
As on 29.09.2014
|
Name : |
Mr. Amar Manvant Patel |
|
Designation : |
Director |
|
Address : |
Krishna Kunj , 46 Sardar Patel Nagar , |
|
Date of Birth/Age : |
29.05.1973 |
|
Date of Appointment : |
09.06.2003 |
|
DIN No.: |
01279531 |
|
|
|
|
Name : |
Urmila Manvant Patel |
|
Designation : |
Director |
|
Address : |
Krishna Kunj , 46 Sardar Patel Nagar , |
|
Date of Birth/Age : |
12.04.1940 |
|
Date of Appointment : |
26.09.2003 |
|
DIN No.: |
01279544 |
KEY EXECUTIVES
|
Name : |
Mr. Mahesh |
|
Designation : |
Admin Manager |
|
|
|
|
Name : |
Mr. Tapan Shah |
|
Designation : |
Company Secretary |
MAJOR SHAREHOLDERS
As on 29.09.2014
|
Names of Shareholders |
No. of Shares |
Percentage of
Holding |
|
Amar Manvant Patel |
475000 |
95.00 |
|
Urmila Manvant Patel |
25000 |
5.00 |
|
Total |
500000 |
100.00 |
As on 29.09.2014
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacture of Digital Printing Ink. |
|
|
|
|
Products : |
Not Available |
|
|
|
|
Brand Names : |
Not Available |
|
|
|
|
Agencies Held : |
Not Available |
|
|
|
|
Exports : |
Not Available |
|
|
|
|
Imports : |
Not Available |
|
|
|
|
Terms : |
|
|
Selling : |
Not Available |
|
|
|
|
Purchasing : |
Not Available |
PRODUCTION STATUS = NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
|
|||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||
|
Customers : |
|
|||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||
|
No. of Employees : |
Information declined by the management. |
|||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||
|
Bankers : |
|
|||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||
|
Facilities : |
|
|
Auditors : |
|
|
Name : |
Vinod H. Desai Chartered Accountants |
|
Address : |
23/2, L Colony, |
|
Tel. No.: |
91-79-26302314 |
|
E-Mail : |
|
|
PAN No.: |
AANPD9487D |
|
|
|
|
Memberships : |
--- |
|
|
|
|
Collaborators : |
--- |
|
|
|
|
Associates/Subsidiaries : |
|
CAPITAL STRUCTURE
As on 31.03.2014
Authorised Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1000000 |
Equity Shares |
Rs.10/-each |
Rs.10.000 Million |
Issued, Subscribed & Paid-up Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
500000 |
Equity Shares |
Rs.10/-each |
Rs.5.000
Million |
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 |
5.000 |
5.000 |
5.000 |
|
(b) Reserves &
Surplus |
6.946 |
5.747 |
4.721 |
|
(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) |
11.946 |
10.747 |
9.721 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
86.268 |
46.058 |
25.707 |
|
(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) |
86.268 |
46.058 |
25.707 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
39.064 |
31.058 |
5.534 |
|
(b) Trade payables |
65.384 |
29.341 |
27.521 |
|
(c) Other current
liabilities |
2.395 |
20.908 |
6.817 |
|
(d) Short-term provisions |
0.523 |
0.750 |
0.436 |
|
Total Current Liabilities
(4) |
107.366 |
82.057 |
40.308 |
|
|
|
|
|
|
TOTAL |
205.580 |
138.862 |
75.736 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
37.088 |
29.655 |
15.981 |
|
(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 |
0.153 |
0.153 |
0.153 |
|
(c) Deferred tax assets
(net) |
0.028 |
0.247 |
0.282 |
|
(d) Long-term Loan and Advances |
0.535 |
0.263 |
0.265 |
|
(e) Other Non-current
assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
37.804 |
30.318 |
16.681 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.021 |
0.021 |
0.021 |
|
(b) Inventories |
49.526 |
41.254 |
37.240 |
|
(c) Trade receivables |
105.392 |
54.151 |
13.737 |
|
(d) Cash and cash
equivalents |
1.884 |
0.833 |
0.000 |
|
(e) Short-term loans and
advances |
10.893 |
12.261 |
8.009 |
|
(f) Other current assets |
0.060 |
0.024 |
0.048 |
|
Total Current Assets |
167.776 |
108.544 |
59.055 |
|
|
|
|
|
|
TOTAL |
205.580 |
138.862 |
75.736 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Income |
379.902 |
280.082 |
183.601 |
|
|
Other Income |
1.895 |
2.020 |
1.860 |
|
|
TOTAL |
381.797 |
282.102 |
185.461 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
164.274 |
98.418 |
22.226 |
|
|
Purchases of
Stock-in-Trade |
188.904 |
161.337 |
136.328 |
|
|
Manufacturing and
Operating Costs |
11.437 |
9.359 |
2.013 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(16.854) |
(10.043) |
6.953 |
|
|
Employees benefits
expense |
2.366 |
1.845 |
1.459 |
|
|
Other expenses |
14.610 |
9.985 |
8.619 |
|
|
TOTAL |
364.737 |
270.901 |
177.598 |
|
|
|
|
|
|
|
Less |
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION |
17.060 |
11.201 |
7.863 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
13.096 |
7.179 |
4.109 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION |
3.964 |
4.022 |
3.754 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
2.121 |
1.712 |
1.788 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
1.843 |
2.310 |
1.966 |
|
|
|
|
|
|
|
Less |
TAX |
0.645 |
1.285 |
0.471 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX |
1.198 |
1.025 |
1.495 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (Rs.) |
2.40 |
2.05 |
2.99 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
|
|
|
|
Net Profit Margin PAT / Sales |
(%) |
0.31
|
0.36 |
0.81 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/Sales) |
(%) |
4.49
|
3.99 |
4.28 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.90 |
1.67 |
2.61 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.15 |
0.21 |
0.20 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
10.49 |
7.18 |
3.21 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.56 |
1.32 |
1.47 |
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 |
5.000 |
5.000 |
5.000 |
|
Reserves & Surplus |
4.721 |
5.747 |
6.946 |
|
Net worth |
9.721 |
10.747 |
11.946 |
|
|
|
|
|
|
long-term borrowings |
25.707 |
46.058 |
86.268 |
|
Short term borrowings |
5.534 |
31.058 |
39.064 |
|
Total borrowings |
31.241 |
77.116 |
125.332 |
|
Debt/Equity ratio |
3.214 |
7.176 |
10.492 |
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 |
183.601 |
280.082 |
379.902 |
|
|
|
52.549 |
35.640 |
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 |
183.601 |
280.082 |
379.902 |
|
Profit |
1.495 |
1.025 |
1.198 |
|
|
0.81% |
0.37% |
0.32% |
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 |
Yes |
|
10] |
Designation of contact
person |
Yes |
|
11] |
Turnover of firm for last
three years |
Yes |
|
12] |
Profitability for last
three years |
Yes |
|
13] |
Reasons for variation
<> 20% |
---------------------- |
|
14] |
Estimation for coming
financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
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 |
No |
INDEX OF CHARGES
|
S. No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10448624 |
02/08/2013 |
10,100,000.00 |
TATA CAPITAL HOUSING FINANCE LIMITED |
ONE FORBES, DR V B GANDHI MARG, FORT, MUMBAI, Maharashtra - 400001, INDIA |
B84810993 |
|
2 |
10408052 |
14/03/2014 * |
66,000,000.00 |
ORIENTAL BANK OF COMMERCE |
G-2, SAMEDH, NR. ASSOCIATED PETROL PUMP,, C. G. ROAD,, AHMEDABAD, Gujarat - 380006, INDIA |
B98894983 |
|
3 |
10400570 |
15/03/2014 * |
47,500,000.00 |
ORIENTAL BANK OF COMMERCE |
G-2, SAMEDH, NR. ASSOCIATED PETROL PUMP,, C. G. ROAD,, AHMEDABAD, Gujarat - 380009, INDIA |
B98891393 |
|
4 |
10400567 |
11/01/2013 |
22,500,000.00 |
ORIENTAL BANK OF COMMERCE |
"Neel Kamal", Opp. Sales India,, Ashram Road,, Ahmedabad, Gujarat - 380009, INDIA |
B67111716 |
Operations
During the year, the total
income increased to Rs. 381.798 Million in compared to last year of Rs. 282.103
Million, which indicates growth of 35.34% over last year. The Company has
increased its Profit before Depreciation and interest, which stood at Rs.
17.061 Million as compared to last years of Rs. 11.201 Million. But due to
higher interest cost, depreciation and tax expenses, the Net profit after Tax
of the company has increased marginally to Rs. 1.198 Million as compared to
last year’s Profit of Rs. 1.026 Million. Overall, at all the level the growth
rate has been maintained.
UNSECURED LOANS
|
PARTICULAR |
31.03.2014 (Rs.
in Millions) |
31.03.2013 (Rs.
in Millions) |
|
LONG TERM
BORROWINGS |
|
|
|
Loans From
Directors |
|
|
|
Amar M Patel |
43.824 |
8.879 |
|
Urmila M Patel |
0.579 |
0.649 |
|
From Banks |
|
|
|
Banks and Finance Company |
3.895 |
8.515 |
|
Kotak New Loan |
0.000 |
2.208 |
|
Deutsche Bank |
3.865 |
0.000 |
|
From Others
Business Loans |
|
|
|
Bajaj Fin. New Loan |
0.986 |
0.000 |
|
Countrywide Logistic India Private Limited |
0.100 |
0.000 |
|
Kotak Mahindra Prime Limited |
4.500 |
0.000 |
|
SHORT TERM
BORROWINGS |
|
|
|
From Others |
|
|
|
Religare finvest Limited |
0.000 |
(0.022) |
|
Total |
57.749 |
20.229 |
FIXED ASSETS
- Land
- Office
Building
- Plant,
Machinery and Equipment
- Furniture and
Fittings
- Vehicles
- Computers
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.63.06 |
|
|
1 |
Rs.98.73 |
|
Euro |
1 |
Rs.77.45 |
INFORMATION DETAILS
|
Information
Gathered by : |
NYA |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
PNM |
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 |
|
--PROFITABILITY |
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.