MIRA
INFORM REPORT
|
Report Date : |
22.12.2014 |
IDENTIFICATION DETAILS
|
Name : |
BANG DATA FORMS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Unit No.50, Kewal Industrial Estate, Senapati Bapat Marg, Lower Parel
(West) Mumbai – 400013, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
19.07.1989 |
|
|
|
|
Com. Reg. No.: |
11-052672 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 13.200
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U22219MH1989PTC052672 |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACB1541Q |
|
|
|
|
TAN No.: [Tax Deduction & Collection
Account No.] |
Not Available |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of PP Woven Sacks for the Cement, Food Grain and Textile
Industries. |
|
|
|
|
No. of Employees
: |
Information declined by management. |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (48) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track record. The rating takes into consideration company’s sound financial risk
profile and fair liquidity position of the company. Trade relations are fair. Business is active. Payment terms are
reported to be usually correct. The company can be considered for business dealings at usual trade
terms and conditions. |
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 |
CRISIL |
|
Rating |
Long Term Rating: “BBB” |
|
Rating Explanation |
Have moderate degree of safety and carry moderate credit risk. |
|
Date |
20.01.2014 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short Term Rating: “A3+” |
|
Rating Explanation |
Have moderate degree of safety and carry higher credit risk. |
|
Date |
20.01.2014 |
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 DECLINED BY
|
Name : |
Mr. Darshil |
|
Designation : |
Accounts Manager |
|
Contact No.: |
91-22-24901781 |
|
Date : |
20.12.2014 |
LOCATIONS
|
Registered Office : |
Unit No.50, Kewal Industrial Estate, Senapati Bapat Marg, Lower Parel (West) Mumbai - 400013, Maharashtra, India |
|
Tel. No.: |
91-22-22070644/ 24901781 / 40436565 |
|
Mobile No.: |
91-9322225398 (Mr. Krishna Kumar Bang) |
|
Fax No.: |
91-22-22073868 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Corporate Office : |
103, Kewal Industrial Estate, 1st Floor, Senapati Bapat Marg, Lower Parel, Mumbai - 400 013, Maharashtra, India |
|
Tel. No.: |
91-22-40436565 |
|
Fax No.: |
91-22- 24901891 |
|
|
|
|
Factory : |
Plot No.A-7 and A -64, MIDC, Chincholi, Solapur-413255, Maharashtra, India |
|
Tel. No.: |
91-217-2357511 / 2357633 |
|
Fax No.: |
91-217-2357726 |
|
E-Mail : |
|
|
Area : |
2000000 sq. ft |
|
Location : |
Owned |
DIRECTORS
AS ON 05.09.2014
|
Name : |
Mr. Krishnakumar Ramkumar Bang |
|
Designation : |
Director |
|
Address : |
122, Sir Bhacchandra Road, Hindu Colony, Mumbai-400014, Maharashtra, India |
|
Date of Birth/Age : |
25.04.1966 |
|
Date of Appointment : |
25.01.1990 |
|
PAN No.: |
AAVPB9853D |
|
DIN No.: |
00235932 |
|
|
|
|
Name : |
Mr. Venugopal Balaram Bang |
|
Designation : |
Director |
|
Address : |
122, Sir Bhacchandra Road, Hindu Colony, Mumbai-400014, Maharashtra, India |
|
Date of Birth/Age : |
02.06.1954 |
|
Date of Appointment : |
19.07.1989 |
|
DIN No.: |
00112410 |
|
|
|
|
Name : |
Mr. Varadraj Rangnath Bang |
|
Designation : |
Director |
|
Address : |
9, Arun Building, Narayan Dabolkar Road, Mumbai-400006, Maharashtra, India |
|
Date of Birth/Age : |
21.10.1967 |
|
Date of Appointment : |
25.07.1991 |
|
PAN No.: |
ABMPB8474C |
|
DIN No.: |
00235962 |
KEY EXECUTIVES
|
Name : |
Mr. Darshil |
|
Designation : |
Accounts Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 05.09.2014
SHAREHOLDERS DETAILS FILE ATTACHED
AS ON 05.09.2014
|
Equity Shares Break – up |
Percentage of
Holding |
|
Directors or relatives of directors |
100.00 |
|
TOTAL |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of PP Woven Sacks for the Cement, Food Grain and Textile
Industries. |
|
|
|
|
Brand Names : |
Not Divulged |
|
|
|
|
Agencies Held : |
Not Divulged |
|
|
|
|
Exports : |
Not Divulged |
|
|
|
|
Imports : |
Not Divulged |
|
|
|
|
Terms : |
Not Divulged |
GENERAL INFORMATION
|
Supplier : |
Not Divulged |
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Customer : |
Not Divulged |
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
No. of Employees : |
Information declined by management. |
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Bankers : |
·
ING Vysya Bank Limited, Mittal Towers, A Wing,
Ground Floor, 210, Nariman Point, Mumbai-400021, Maharashtra, India ·
Commonwealth Bank of Australia, Level 2, Hoechst
House, Nariman Point, Mumbai-400021, Maharashtra, India ·
Yes Bank Limited, 9th Floor, Nehru
Centre, Discovery of India, Dr. Annie Besant Road, Worli, Mumbai-400018,
Maharashtra, India |
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Financial Institution : |
SICOM Limited, Nariman Point, Mumbai-400021, Maharashtra, India |
|
|
|
|
Auditors : |
|
|
Name : |
K.M. Garg and Company Chartered Accountants |
|
Address : |
603/604, Unique Tower, Off. S.V. Road, Goregaon (West), Mumbai-400062,
Maharashtra, India |
|
PAN No.: |
AAEFK4654J |
|
|
|
|
Associates : |
· Supreme Polyweave Private Limited [U25202MH1999PTC121809] · Bang Papers Private Limited [U21000MH2007PTC172222] · Bang Overseas Limited [L51900MH1992PLC067013] · R V Investment Private Limited · Bags and Sacks India Private Limited |
CAPITAL STRUCTURE
AS ON 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2,000,000 |
Equity Shares |
Rs.10/- each |
Rs.20.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1,320,000 |
Equity Shares |
Rs.10/- each
|
Rs.13.200
Millions |
|
|
|
|
|
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 |
13.200 |
13.200 |
13.200 |
|
(b) Reserves & Surplus |
301.205 |
238.582 |
198.008 |
|
(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) |
314.405 |
251.782 |
211.208 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
61.073 |
72.539 |
125.866 |
|
(b) Deferred tax liabilities (Net) |
9.899 |
11.288 |
14.353 |
|
(c) Other long term liabilities |
0.631 |
1.172 |
0.506 |
|
(d) long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current Liabilities (3) |
71.603 |
84.999 |
140.725 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
74.069 |
105.127 |
104.754 |
|
(b) Trade payables |
90.626 |
60.313 |
108.625 |
|
(c) Other current
liabilities |
41.425 |
52.257 |
19.897 |
|
(d) Short-term provisions |
9.348 |
0.979 |
5.196 |
|
Total Current Liabilities (4) |
215.468 |
218.676 |
238.472 |
|
|
|
|
|
|
TOTAL |
601.476 |
558.457 |
590.405 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
198.037 |
215.552 |
221.832 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
0.200 |
0.200 |
15.345 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.175 |
0.175 |
0.176 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
14.117 |
16.920 |
45.025 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
212.529 |
232.847 |
282.378 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
155.685 |
132.780 |
142.299 |
|
(c) Trade receivables |
202.578 |
153.187 |
123.937 |
|
(d) Cash and cash
equivalents |
7.818 |
8.578 |
11.039 |
|
(e) Short-term loans and
advances |
22.866 |
31.065 |
30.752 |
|
(f) Other current assets |
0.000 |
0.000 |
0.000 |
|
Total Current Assets |
388.947 |
325.610 |
308.027 |
|
|
|
|
|
|
TOTAL |
601.476 |
558.457 |
590.405 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX |
93.585 |
58.179 |
43.529 |
|
|
|
|
|
|
|
|
|
Less |
PROVISION FOR TAX |
32.197 |
20.657 |
15.774 |
|
|
|
|
|
|
|
|
|
Less |
OTHER
PROVISION |
(1.205) |
(3.052) |
(0.150) |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX |
62.593 |
40.574 |
27.905 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
656.121 |
497.878 |
403.567 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
47.42 |
30.74 |
21.14 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Return on Total Assets (PBT/Total Assets} |
(%) |
15.57 |
10.42 |
7.57 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.30 |
0.23 |
0.21 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.43 |
0.71 |
1.09 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.81 |
1.49 |
1.29 |
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 |
13.200 |
13.200 |
13.200 |
|
Reserves & Surplus |
198.008 |
238.582 |
301.205 |
|
Net worth |
211.208 |
251.782 |
314.405 |
|
|
|
|
|
|
long-term borrowings |
125.866 |
72.539 |
61.073 |
|
Short term borrowings |
104.754 |
105.127 |
74.069 |
|
Total borrowings |
230.620 |
177.666 |
135.142 |
|
Debt/Equity ratio |
1.092 |
0.706 |
0.430 |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES OF
LONG-TERM DEBT :
|
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 |
14.939 |
26.660 |
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 |
Yes |
|
11] |
Turnover of firm for last three years |
No |
|
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 |
Yes |
|
33] |
Voter ID No of Proprietor/Partner/Director,
if available |
No |
|
34] |
External Agency Rating, if available |
Yes |
UNSECURED LOANS
|
Particulars |
31.03.2014 (Rs. In
Millions) |
31.03.2013 (Rs. In
Millions) |
|
Long Term
Borrowings |
|
|
|
Intercorporate borrowings |
15.555 |
0.000 |
|
Loans and advances from related parties |
37.588 |
49.673 |
|
TOTAL
|
53.143 |
49.673 |
OPERATIONS
The Company's performance has been good. The Company has registered Net Profit of Rs.62.593 Millions in the year as against Rs. 40.574 Millions in the previous year
CHANGE OF ADDRESS
The registers office of the company has been
shifted from 581, Bhuleshwar Road, Mumbai - 400002, Maharashtra, India to the
present address w.e.f. 27.03.2009.
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
10443048 |
10/10/2014 * |
30,000,000.00 |
YES BANK LIMITED |
9TH FLOOR, NEHRU CENTRE, DISCOVERY OF INDIA,, DR. |
C33234592 |
|
2 |
10393571 |
10/10/2014 * |
50,000,000.00 |
COMMONWEALTH BANK OF AUSTRALIA |
LEVEL 2, HOECHST HOUSE, NARIMAN POINT, MUMBAI, MA |
C33978065 |
|
3 |
10286017 |
15/06/2012 * |
20,000,000.00 |
ING VYSYA BANK LIMITED |
C-12, G BLOCK,BANDRA KURLA COMPLEX,, BANDRA EAST, |
B42553735 |
|
4 |
10204233 |
07/06/2012 * |
57,000,000.00 |
ING VYSYA BANK LIMITED |
MITTAL TOWERS,A-WING,GROUND FLOOR,, 210 NARIMAN P |
B42556134 |
|
5 |
90237591 |
10/10/2014 * |
197,000,000.00 |
ING VYSYA BANK LIMITED |
GROUND FLOOR,KAKAD CHAMBERS,, UNIT 1 & 2,132,DR. |
C34142232 |
|
6 |
90237475 |
06/02/2002 |
24,000,000.00 |
INDIAN BANK |
NARIMAN POINT, MUMBAI, MAHARASHTRA - 400021, INDIA |
- |
|
7 |
90237204 |
04/05/1999 * |
15,000,000.00 |
STATE BANK OF MAURITIUS LTD. |
101; RAHEJA CENTRE, FREE PRESS JOURNAL ROAD; NARI |
- |
|
8 |
90237880 |
23/09/1998 * |
6,100,000.00 |
SICOM LTD. |
NARIMAN POINT, MUMBAI, MAHARASHTRA - 400021, INDIA |
- |
* Date of charge modification
FIXED ASSETS
·
Land
·
Building
·
Plant and Machinery
·
Furniture and Fixture
·
Office Equipment
·
Computer Software
·
Vehicle
·
Electrical Equipment
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.63.07 |
|
|
1 |
Rs.98.73 |
|
Euro |
1 |
Rs.77.46 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
SNT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--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 |
|
48 |
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.