MIRA
INFORM REPORT
|
Report Date : |
18.01.2014 |
IDENTIFICATION DETAILS
|
Name : |
ARHAM PETROCHEM PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Survey No. 1163/ A Village Motibhoyan, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
30.01.1997 |
|
|
|
|
Com. Reg. No.: |
04-031614 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.36.546 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24299GJ1997PTC031614 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
AHMA00415C |
|
|
|
|
PAN No.: [Permanent Account No.] |
AACCA0001C |
|
|
|
|
Legal Form : |
Private limited liability company |
|
|
|
|
Line of Business
: |
Manufacturer of Petroleum Products. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (29) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 330000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow But Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having moderate track record. There appears some dip in the profitability of the company during
current year. The borrowing of the company also seems to be increasing. However, trade relations are fair. Business is active. Payments are
reported to be slow but correct. The company can be considered for business dealings with some
cautions. |
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, 2013
|
Country Name |
Previous Rating (30.06.2013) |
Current Rating (30.09.2013) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
India’s current account
deficit narrowed in the quarter ended September as government measures to curb
imports, especially gold, kicked in. The current account deficit, the
excess of a country’s imports of goods and services over exports, narrowed to $
5.2 billion from $ 21 billion in the year ago period, according to provisional
Reserve Bank of India data. Finance Minister P. Chidambaram said the CAD for
the year will be less than $ 60 billion or 3 per cent of GDP and the latest
data suggests the government may achieve the target.
India was ranked 94th
among the world’s most corrupt nations list. Denmark and New Zealand topped as
the cleanest while Somalia emerged as the most corrupt.
India’s services
sector activity witnessed a moderate improvement in November over the previous
month, even while indicating the fifth successive monthly contraction,
according the HSBC survey.
$53 million
estimated losses suffered by India due to phishing attacks during the third quarter,
according to a study by RSA. India ranks fourth in the list of nations hit by
phishing attacks. The US remained at the top of the charts. Phishing is the
process of acquiring information such as user names, passwords and credit card
details by sending e-mails disguised as official mails.
Rs.4080 million
worth of mobile-phone-based transactions by July 2013 compared to Rs.260
million in September, 2012, according to Deloitte report. The number of
transactions has shot up from 94000 to 701000.
India aims to earn
Rs.400000 million from the bandwidth auction set for January. The merger and
acquisition guidelines, cleared by a group of ministers, will be out before the
auction begins so that players can make informed decisions on the auctions.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
Long Term Bank Facilities = BB+ |
|
Rating Explanation |
Moderate risk of default |
|
Date |
06.03.2013 |
|
Rating Agency Name |
CARE |
|
Rating |
Short Term Bank Facilities = A4 |
|
Rating Explanation |
Minimal Degree of Safety and carry very high credit risk |
|
Date |
06.03.2013 |
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.
LOCATIONS
|
Registered Office / Factory: |
Survey No. 1163/ A Village Motibhoyan, Gota Road, Taluka : Kalol,
District: Gandhinagar – 362721, Gujarat, India |
|
Tel. No.: |
91-2764-281409 |
|
Fax No.: |
91-2764-281799 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Correspondence office : |
408, 4th Floor, Shitiratna Building, Opposite White House, Panchwati
Cross Road, Elis Bridge, C.G. Road, Ahmedabad - 380006, Gujarat, India |
|
Tel. No.: |
91-79-26449464 / 26466280 |
|
Fax No.: |
91-79-26468770 |
|
E-Mail : |
DIRECTORS
AS ON 31.08.2013
|
Name : |
Mr. Aashish Sureshchandra Agarwal |
|
Designation : |
Managing Director |
|
Address : |
12, Swi Nagar, |
|
Date of Birth/Age : |
18.11.1983 |
|
Qualification : |
B.Com |
|
Date of Appointment : |
02.04.2012 |
|
DIN No.: |
00889911 |
Other Directorship:
|
S.No. |
CIN/LLPIN |
Name
of the Company/ LLP |
Current
designation of the Director/ Designated Partner |
Date
of appointment at current designation |
Original
date of appointment |
Date
of cessation |
Company/
LLP Status |
Defaulting
status |
|
1 |
U74999GJ1996PTC031238 |
AKAR
INFRASTRUCTURES PRIVATE LIMITED |
Director |
01/02/2002 |
01/02/2002 |
- |
Active |
NO |
|
2 |
U24299GJ1997PTC031614 |
ARHAM PETROCHEM
PRIVATE LIMITED |
Managing
director |
02/04/2012 |
01/12/2004 |
- |
Active |
NO |
|
3 |
U27106GJ1988PTC011522 |
PURE ISPAT
PRIVATE LIMITED |
Director |
23/12/2011 |
23/12/2011 |
- |
Active |
NO |
|
Name : |
Mr. Nitin Agrawal |
|
Designation : |
Director |
|
Address : |
Musran Gate, Rama Building, Hathras – 204101, Uttar Pradesh, India |
|
Date of Birth/Age : |
19.11.1983 |
|
Qualification : |
B.Com |
|
Date of Appointment : |
11.04.2007 |
|
Tel. : |
91-9377305815 |
|
DIN No.: |
01455835 |
Other Directorship:
|
S.No. |
CIN/LLPIN |
Name
of the Company/ LLP |
Current
designation of the Director/ Designated Partner |
Date
of appointment at current designation |
Original
date of appointment |
Date
of cessation |
Company/
LLP Status |
Defaulting
status |
|
1 |
U24299GJ1997PTC031614 |
ARHAM PETROCHEM
PRIVATE LIMITED |
Director |
11/04/2007 |
11/04/2007 |
- |
Active |
NO |
MAJOR SHAREHOLDERS
AS ON 31.08.2013
|
Names of Shareholders |
No. of Shares |
|
Vikas S Agrawal |
260600 |
|
Mahagujarat Smelting Company Private Limited, India |
1200260 |
|
Rajiv Agrawal |
60 |
|
Ram Ratan L Ladha |
60 |
|
R.G. Trader |
60 |
|
Kokilaben Somabhai Patel |
60 |
|
Ashish Agrawal |
2011620 |
|
Sarlarani Agrawal |
10 |
|
Sureshchandra R. Agrawal |
10 |
|
Sureshchandra R. Agrawal (HUF) |
10 |
|
Ruchika Agrawal |
1500 |
|
Divangi Vikash Agrawal |
780 |
|
Kirti V. Agrawal |
10 |
|
Tirth Vikash Agrawal |
10 |
|
Vikash S Agrawal (HUF) |
10 |
|
Biraj Manimpex Private Limited, India |
50000 |
|
Jasol Maa shares Trading Private Limited, India |
50000 |
|
Jupiter Businessess Limited, India |
50000 |
|
Yankee Management Services Private Limited, India |
10000 |
|
Chirayu Exim Private Limited, India |
19500 |
|
|
|
|
Total |
3654560 |
AS ON 31.08.2013
Equity Share
breakup (percentage of total equity)
|
Category |
Percentage |
|
Bodies Corporate |
37.75 |
|
Directors or relatives of directors |
62.25 |
|
|
|
|
Total
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Petroleum Products. |
||||||
|
|
|
||||||
|
Products : |
|
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
||||||||||||||||||
|
|
|
||||||||||||||||||
|
Bankers : |
·
State Bank of India, Laghu Udyog Branch, Opposite
Gandhigram Railway Station, Ellisbridge Ahmedabad, Ahmedabad – 380009,
Gujarat, India ·
HDFC Bank ·
ICICI Bank |
||||||||||||||||||
|
|
|
||||||||||||||||||
|
Facilities : |
Hypothecation on entire Current Assets, Plant and Machinery and Collateral
Security – 1.
EM over Factory Land and Building (Ameasuring
13893 sq. mtr. Survey No. 1163, Motibhoyan, Ta-Kalol, District: Gandhinagar,
Gujarat) 2.
EM over
Open Land (Ameasuring 4000 sq. mtr., Yard. G/2, Alloa Hills, Plot No.
219/26 and 29/2 Aluva Taluka – Kalol, District: Gandhinagar, Gujarat) and
Personal guarantee of all Directors
and Corporate Guarantee of Pure Ispat Private Limited. |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
KPSJ and Associates Chartered Accountant |
|
Address : |
708, Samruddhi, Opposite Sakar- III, Near Income Tax Circle, P.O
Navjeevan, Ahmedabad, Gujarat- 380014, India |
|
Tel. No.: |
(O) 91-2764- 30022545 [ R] 25620900 |
|
E-Mail : |
|
|
PAN No.: |
AAGFK2924D |
|
|
|
|
Associates/Subsidiaries : |
·
Akar Infrastructure Private Limited ·
Mahagujaragt Melting Private Limited ·
Visu Stock Land
Private Limited |
CAPITAL STRUCTURE
AS ON 31.08.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3700000 |
Equity Shares |
Rs.10/- each |
Rs.37.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3654560 |
Equity Shares |
Rs.10/- each |
Rs.36.546 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 |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
36.546 |
36.546 |
16.623 |
|
(b) Reserves & Surplus |
44.134 |
40.177 |
18.647 |
|
(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) |
80.680 |
76.723 |
35.270 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
55.742 |
3.465 |
7.953 |
|
(b) Deferred tax liabilities (Net) |
2.646 |
2.820 |
2.988 |
|
(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) |
58.388 |
6.285 |
10.941 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term
borrowings |
66.292 |
29.300 |
18.191 |
|
(b) Trade payables |
3.670 |
17.348 |
12.039 |
|
(c) Other current
liabilities |
0.993 |
0.950 |
1.458 |
|
(d) Short-term provisions |
2.280 |
3.108 |
1.654 |
|
Total Current Liabilities (4) |
73.235 |
50.706 |
33.342 |
|
|
|
|
|
|
TOTAL |
212.303 |
133.714 |
79.553 |
|
|
|
|
|
|
II. ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
12.766 |
13.520 |
14.476 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
12.917 |
3.093 |
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) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
1.077 |
0.964 |
0.563 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
26.760 |
17.577 |
15.039 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
75.104 |
57.035 |
32.769 |
|
(c) Trade receivables |
82.722 |
44.948 |
23.902 |
|
(d) Cash and cash
equivalents |
11.209 |
6.242 |
1.684 |
|
(e) Short-term loans
and advances |
10.485 |
4.579 |
2.386 |
|
(f) Other current
assets |
6.023 |
3.333 |
3.773 |
|
Total Current Assets |
185.543 |
116.137 |
64.514 |
|
|
|
|
|
|
TOTAL |
212.303 |
133.714 |
79.553 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income (Gross Receipt) |
408.451 |
257.094 |
152.842 |
|
|
|
Other Income |
NA |
NA |
NA |
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Administrative Expenses |
NA |
NA |
NA |
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
5.906 |
8.315 |
4.351 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
1.949 |
2.803 |
1.448 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
3.957 |
5.512 |
2.903 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
39.262 |
NIL |
NA |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
20.823 |
29.099 |
25.615 |
|
|
|
|
|
|
|
|
|
Earnings Per Share (Rs.10/-) |
1.08 |
--- |
--- |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
Net Profit Margin (PBT/Sales) |
(%) |
1.44
|
3.23 |
2.84 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.96
|
6.36 |
5.46 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.07
|
0.10 |
0.01 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.51
|
0.43 |
0.74 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.53
|
2.29 |
1.93 |
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 |
No |
|
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 |
--- |
|
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 |
Yes |
UNSECURED LOANS
|
Particulars |
31.03.2013 Rs.
In millions |
31.03.2012 Rs.
In millions |
|
Long Term Borrowing |
|
|
|
Loans From Member |
48.856 |
1.265 |
|
Loans From Interoperate Deposit
|
6.887 |
2.200 |
|
|
|
|
|
Total |
55.743 |
3.465 |
VIEW INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10091926 |
30/11/2012 * |
248,700,000.00 |
STATE BANK OF
INDIA |
LAGHU UDYOG BRANCH,
OPP. GANDHIGRAM RLWY STATION, |
B65422719 |
* Date of charge modification
FIXED ASSETS
·
Land and Land Development
·
Factory Building
·
Internal Road
·
Plant and Machinery
·
Other Plant and Equipment
·
Computer
·
Furniture and Fitting
·
Office 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.61.54 |
|
|
1 |
Rs.101.08 |
|
Euro |
1 |
Rs.83.37 |
INFORMATION DETAILS
|
Report Prepared
by : |
SNT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
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 |
4 |
|
--CREDIT LINES |
1~10 |
2 |
|
--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 |
|
29 |
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 |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.