MIRA INFORM REPORT
|
Report Date : |
23.12.2014 |
IDENTIFICATION DETAILS
|
Name : |
NOBEL HYGIENE
PRIVATE LIMITED (w.e.f 23.12.2013) |
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Formerly Known
As : |
NOBEL HYGIENE LIMITED (w.e.f. 01.01.2010) NOBEL HYGIENE PRIVATE LIMITED |
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Registered
Office : |
House No. L – 20, Housing Board Colony, Upasnagar, Sancoale, Vasc Da
Gama – 403726, |
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Country : |
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Financials (as
on) : |
31.03.2013 |
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Date of
Incorporation : |
13.11.2001 |
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Com. Reg. No.: |
24-003048 |
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Capital
Investment / Paid-up Capital : |
Rs. 157.834 Millions |
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CIN No.: [Company Identification
No.] |
U24239GA2001PTC003048 |
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IEC No.: |
Not Available |
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TAN No.: [Tax Deduction &
Collection Account No.] |
BLRN02038B |
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PAN No.: [Permanent Account No.] |
AABCN5081A |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer of baby diapers and adult diapers |
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No. of Employees
: |
150 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (47) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having satisfactory track record. 23 AC for the year 2014 could not be made available from any source. As per financials of 2013, there is a dip in profit of the company.
However, liquidity position of the company is good. Trade relations are reported to be fair. Business is active. Payment
terms are reported to be usually correct. The company can be considered for business dealing 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- (Suspended) |
|
Rating Explanation |
Moderate degree of safety and moderate credit risk. |
|
Date |
01.09.2014 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short Term Rating = A3 (Suspended) |
|
Rating Explanation |
Moderate degree of safety and higher credit risk. |
|
Date |
01.09.2014 |
Reason for suspension = Non Co-operation by company to provide
information.
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 PARTED BY
|
Name : |
Mr. Sanjeev Trivedi |
|
Designation : |
Finance Head |
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Contact No.: |
91-9320744331 |
|
Date : |
19.12.2014 |
LOCATIONS
|
Registered Office : |
H. No. L-20, Housing Board Colony, Upasnagar, Sancoale,
Vasco Da Gama Goa -403726, India |
|
Tel. No.: |
91-832-2556861 |
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Mobile No.: |
91-9320744331 (Mr. Sanjeev Trivedi) |
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Fax No.: |
91-832-42121316 |
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E-Mail : |
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Website : |
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Location : |
Rented |
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Corporate Office: |
Unit No. 204, Thakur House (Antariksh), |
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Tel. No.: |
91-22-28201381/ 28201382 |
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Fax No.: |
91-22-28201383 / 242121314 |
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E-Mail : |
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Area : |
2000 Sq. ft. |
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Location : |
Rented |
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Factory : |
A–70, MIDC, Sinnar, Nashik –
422103, Maharashtra India |
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Area : |
4 acers |
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Location : |
Rented |
DIRECTORS
As on30.09.2014
|
Name : |
Mr. Kamal Manohardas Johari |
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Designation : |
Director |
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Address : |
101, |
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Date of Birth/Age : |
10.10.1960 |
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Date of Appointment : |
16.07.2012 |
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DIN No.: |
00785082 |
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Name : |
Mrs. Kamini Kamal Johari |
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Designation : |
Director |
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Address : |
101, |
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Date of Birth/Age : |
10.02.1962 |
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Date of Appointment : |
16.07.2012 |
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DIN No.: |
01309286 |
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Name : |
Mr. Manish Dharanendra Ladage |
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Designation : |
Directors |
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Address : |
Row No. 18, Vasant Vihar, |
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Date of Appointment : |
30.09.2010 |
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DIN No.: |
00082178 |
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Name : |
Mr. Bhupal Singh Verdia |
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Designation : |
Director |
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Address : |
17 Mani Vikas, T. H. Kataria Marg, |
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Date of Appointment : |
29.09.2012 |
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DIN No.: |
02258522 |
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Name : |
Mr. Nilesh Bansilal |
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Designation : |
Director |
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Address : |
203, Tulsi Villa, Poddar Road, Santacruz (West), Mumbai – 400054,
Maharashtra, India |
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Date of Appointment : |
14.2.2013 |
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DIN No.: |
00199071 |
KEY EXECUTIVES
|
Name : |
Mr. Sanjeev Trivedi |
|
Designation : |
Finance Head |
MAJOR SHAREHOLDERS
As on 30.09.2014
SHAREHOLDING DETAILS FILE ATTACHED.
As on 30.09.2014
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Foreign holdings( Foreign institutional investor(s),
Foreign companie(s) Foreign financial institution(s), Non-resident Indian(s)
or Overseas Corporate bodies or Others |
7.28 |
|
Bodies corporate |
54.60 |
|
Directors or relatives of Directors |
30.23 |
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Other top fifty shareholders |
7.89 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of baby diapers and adult diapers |
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Products : |
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Brand Names : |
FRIENDS and TEDDYY |
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Agencies Held : |
Not Available |
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Exports : |
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Products : |
Diapers |
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Countries : |
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Imports : |
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Products : |
Raw Material and Allied Products |
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Countries : |
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Terms : |
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Selling : |
L/C / Cash / Credit / DP |
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Purchasing : |
L/C / Cash / Credit / DP |
PRODUCTION STATUS = Not Available
GENERAL INFORMATION
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Suppliers : |
Not Divulged
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Customers : |
Wholesalers, Retailers and Stockest
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No. of Employees : |
150 (Approximately) |
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Bankers : |
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Facilities : |
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Auditors : |
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Name : |
Shabirbhai and Company |
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Address : |
Chartered Accountants |
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Memberships : |
Not Divulged |
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Collaborators : |
Not Divulged |
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Enterprises over which Key Managerial Personnel
are able to exercise Significant Influence : (As
on 31.03.2012) |
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CAPITAL STRUCTURE
As on 30.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
9000000 |
Equity Shares |
Rs.10/- each |
Rs. 90.000 Millions |
|
6250000 |
Preference Shares |
Rs.20/- each |
Rs. 125.000 Millions |
|
|
Total |
|
Rs. 215.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
8654800 |
Equity Shares |
Rs.10/- each |
Rs. 86.548
Millions |
|
3564286 |
Preference Shares |
Rs.20/- each |
Rs. 71.286
Millions |
|
|
Total |
|
Rs. 157.834 Millions |
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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|
|
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(a) Share Capital |
157.834 |
76.880 |
76.880 |
|
(b) Reserves & Surplus |
484.375 |
185.389 |
85.165 |
|
(c) Money
received against share warrants |
0.323 |
9.000 |
9.000 |
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|
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(2) Share Application money pending
allotment |
0.000 |
23.400 |
0.000 |
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Total Shareholders’
Funds (1) + (2) |
642.532 |
294.669 |
171.045 |
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(3)
Non-Current Liabilities |
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(a) long-term borrowings |
90.113 |
91.004 |
120.428 |
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(b) Deferred tax liabilities (Net) |
28.676 |
1.166 |
1.166 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
32.804 |
|
(d) long-term
provisions |
0.000 |
0.000 |
0.000 |
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Total Non-current
Liabilities (3) |
118.789 |
92.170 |
154.398 |
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(4)
Current Liabilities |
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(a) Short
term borrowings |
247.584 |
201.086 |
156.464 |
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(b) Trade
payables |
20.897 |
53.564 |
38.719 |
|
(c) Other
current liabilities |
116.466 |
78.135 |
42.596 |
|
(d) Short-term
provisions |
45.003 |
31.375 |
18.126 |
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Total Current
Liabilities (4) |
429.950 |
364.160 |
255.905 |
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TOTAL |
1191.268 |
750.999 |
581.348 |
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II.
ASSETS |
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(1)
Non-current assets |
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(a) Fixed
Assets |
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(i)
Tangible assets |
348.071 |
241.715 |
230.992 |
|
(ii)
Intangible Assets |
9.432 |
0.000 |
0.033 |
|
(iii)
Capital work-in-progress |
42.409 |
38.356 |
33.746 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
43.776 |
1.276 |
1.276 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
9.013 |
28.700 |
29.072 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
452.701 |
310.047 |
295.119 |
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(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
5.000 |
5.000 |
|
(b)
Inventories |
168.426 |
169.467 |
121.131 |
|
(c) Trade
receivables |
351.717 |
225.150 |
130.682 |
|
(d) Cash
and cash equivalents |
32.713 |
8.512 |
6.396 |
|
(e)
Short-term loans and advances |
185.711 |
32.823 |
21.957 |
|
(f) Other
current assets |
0.000 |
0.000 |
1.063 |
|
Total
Current Assets |
738.567 |
440.952 |
286.229 |
|
|
|
|
|
|
TOTAL |
1191.268 |
750.999 |
581.348 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
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SALES |
|
|
|
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|
|
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Income |
1117.074 |
762.338 |
451.582 |
|
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Other Income |
1.860 |
0.514 |
4.834 |
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|
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TOTAL (A) |
1118.934 |
762.852 |
456.416 |
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Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
764.839 |
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|
Changes in inventories of finished goods, work-in-progress
and stock-in-trade |
7.547 |
(28.687) |
|
|
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Employee benefit expense |
22.488 |
11.754 |
|
|
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Other expenses |
160.566 |
109.579 |
|
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TOTAL (B) |
955.440 |
604.049 |
65.298 |
|
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Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
163.494 |
158.803 |
66.901 |
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Less |
FINANCIAL
EXPENSES (D) |
46.361 |
47.288 |
23.187 |
|
|
|
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|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
117.133 |
111.515 |
43.714 |
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|
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|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
12.147 |
11.158 |
5.678 |
|
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|
|
|
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|
|
PROFIT BEFORE
TAX (E-F) (G) |
104.986 |
100.357 |
38.036 |
|
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|
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|
Less |
TAX (H) |
29.086 |
0.134 |
0.000 |
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|
PROFIT AFTER TAX
(G-H) (I) |
75.900 |
100.223 |
38.036 |
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|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
163.358 |
63.135 |
25.099 |
|
|
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|
|
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|
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|
|
BALANCE CARRIED
TO THE B/S |
239.258 |
163.358 |
63.135 |
|
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IMPORTS |
|
|
|
|
|
|
|
Capital Goods |
NA |
3.610 |
66.796 |
|
|
|
Raw Materials and Finished products |
NA |
72.164 |
79.855 |
|
|
|
Machinery (WIP) |
NA |
0.000 |
0.000 |
|
|
|
Fright |
NA |
0.000 |
0.000 |
|
|
|
Sample Material |
NA |
0.000 |
0.000 |
|
|
TOTAL IMPORTS |
NA |
75.774 |
146.651 |
|
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|
|
|
|
|
Earnings Per
Share (Rs.) |
9.56 |
13.04 |
4.95 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
Net Profit Margin (PAT/Sales) |
(%) |
6.79 |
13.14 |
8.42 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT / Sales) |
(%) |
14.64
|
20.83 |
14.81 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
9.50 |
14.11 |
6.96 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.16 |
0.34 |
0.22 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.53 |
0.99 |
1.62 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.72 |
1.21 |
1.12 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Share Capital |
76.880 |
76.880 |
157.834 |
|
Reserves & Surplus |
85.165 |
185.389 |
484.375 |
|
Net
worth |
162.045 |
262.269 |
642.209 |
|
|
|
|
|
|
long-term borrowings |
120.428 |
91.004 |
90.113 |
|
Short term borrowings |
156.464 |
201.086 |
247.584 |
|
Total
borrowings |
276.892 |
292.090 |
337.697 |
|
Debt/Equity
ratio |
1.709 |
1.114 |
0.526 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
451.582 |
762.338 |
1,117.074 |
|
|
|
68.815 |
46.533 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
451.582 |
762.338 |
1,117.074 |
|
Profit |
38.036 |
100.223 |
75.900 |
|
|
8.42% |
13.15% |
6.79% |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES OF
LONG-TERM DEBT
Rs. In Millions
|
Particular |
30.09.2013 (12th Months) |
30.09.2012 (18th Months) |
|
|
|
|
|
Current maturities of long-term debt |
38.407 |
35.197 |
|
|
|
|
|
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 |
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% |
----------- |
|
14] |
Estimation for coming
financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
Yes |
|
18] |
Major customers |
Yes |
|
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 |
No |
|
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 |
Note:
The registered office of the company has been shifted from D-2 16, Sancoale, Zuari
Nagar, Goa-403 726, India to present address. w.e.f. 28.09.2013
UNSECURED LOAN
(Rs.
In Million)
|
Particulars |
31.03.2013 |
31.03.2012 |
|
LONG TERM BORROWINGS |
|
|
|
Rupee term loan from others |
2.566 |
4.030 |
|
Intercorporated deposits |
3.844 |
1.300 |
|
|
6.41 |
5.33 |
|
SHORT TERM
BORROWINGS |
|
|
|
Loans repayable on demand from others |
17.033 |
16.969 |
|
|
|
|
|
Total |
23.443 |
22.299 |
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge Creation/Modification
|
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10145181 |
13/01/2014 * |
785,700,000.00 |
State Bank of India |
MIDC, Andheri (East) Branch, Marol,, Central Road |
B95269502 |
|
2 |
90065627 |
01/01/2003 |
3,000,000.00 |
STATE BANK OF INDIA |
COMMERCIAL BRANCH, CHEMBUR, MUMBAI, Maharashtra - |
- |
* Date of charge modification
FIXED ASSETS:
·
Air Conditioner
·
Aquaguard
·
Computer
·
Factory Equipments
·
Factory Premises
·
·
Office Premises
·
Handi (Machine)
·
Reliance Mobile Phone
·
Electrical Installation
·
Website Development
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.63.18 |
|
|
1 |
Rs.98.85 |
|
Euro |
1 |
Rs.77.42 |
INFORMATION DETAILS
|
Information
Gathered by : |
HNA |
|
|
|
|
Analysis Done by
: |
SUM |
|
|
|
|
Report Prepared
by : |
ART |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILITY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER
|
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
47 |
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.