|
Report Date : |
05.02.2014 |
IDENTIFICATION DETAILS
|
Name : |
GAJANAN EXTRACTION LIMITED |
|
|
|
|
Registered
Office : |
Post Box No. 27, Village Kauthali, Parli, Vaijnath, Beed-431515, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
02.07.1985 |
|
|
|
|
Com. Reg. No.: |
11-036711 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.16.200
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U15140MH1985PLC036711 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
NSKG01353C |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACG8493J |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
The Company is engaged in Manufacturing of Expeller/ Solvent Oil and
Cakes/ Doc and All Activities. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (35) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 570000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having moderate track record. There
seems a growth in the company’s turnover and profitability during financial
year 2013. However, the rating takes into consideration the company’s exposure to
intense industry competition, leading to low bargaining power and large
working capital requirements. 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
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 – December 1, 2013
|
Country Name |
Previous Rating (30.09.2013) |
Current Rating (01.12.2013) |
|
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
The services sector, the largest contributor to India’s GDP, contracted for
the sixth consecutive month in December, as orders dipped. However, hiring has
risen. Direct tax collections rose 12.3 % during the April – December
period of the current financial year. The government has decided to
retain 100 per cent foreign direct investment in both greenfield (new) and
brown field (existing) pharmaceutical companies, despite concerns over genetic
drugs going out of production, if multi-national companies take over domestic
ones. In M&A deals, a non compete clause would not be allowed, except in
special circumstances. The Department of Industrial Policy and Promotion plans
to release the next edition of its consolidated foreign direct investment
policy document on March 31, incorporating changes made in the past year. DIPP
compiles all policies related to India’s FDI regime into a single document to
make it easy for investors to understand. 185 million estimated number of
mobile internet users in India by June 2014, according to a report by the
Internet & Mobile Association of India and IMRB International. India
had 110 million mobile internet users with 25 million in rural areas. $3.77 tn
estimated global IT spending in 2014, according to research firm Gartner Inc.
The growth forecast for this year is cut to 3.1 %from the earlier estimate of
3.5 %. The spending growth forecast for telecom services – a segment that
accounts for more than 40 % at total IT spending – from 1.9 per cent to 1.2 per
cent is the main reason for this overall IT cut. A Reserve Bank of India
committee has recommended setting up a special category of lenders who would
cater to small businesses and households, to expand the number of customers
with access to banking services. These banks would focus onproviding payment
services and deposit products. Indian banks want the free use of
automated teller machines to be capped at five transactions in a month
including that of the bank in which the account is active. This follows state
government order to banks to install security guards at ATM booths after a
woman banker was assaulted in Bangalore. The government is likely to present a
vote on Account in mid-February. The annual Economic Survey will be tabled
later in Parliament along with the full Budget. A full Budget for 2014/15 is
likely to be present in July by the new government formed after the General
Election. The government will soon launch an internet spy system, called Netra,
to detect malafide messages. Security agency will deploy the system to capture
dubious voice traffic on applications such as Skype and Google Talk, as well as
tweeters.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
BB – [Long Term] |
|
Rating Explanation |
Moderate risk of default. |
|
Date |
14.05.2013 |
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 : |
Post Box No. 27, Village Kauthali, Parli, Vaijnath, Beed-431515,
Maharashtra, India |
|
Tel. No.: |
91-2446-264700/ 264705/ 222276 |
|
Fax No.: |
91-2446-264703 |
|
E-Mail : |
DIRECTORS
AS ON 30.09.2013
|
Name : |
Mr. Purushottam Radhakisan Tawari |
|
Designation : |
Director |
|
Address : |
Near SBI Buldhana Road, Malkapur, District Buldhana, Maharashtra,
India |
|
Date of Birth/Age : |
22.06.1953 |
|
Date of Appointment : |
02.07.1985 |
|
Din No.: |
00509065 |
|
|
|
|
Name : |
Mr. Rajendrakumar Pyarelal Bhala |
|
Designation : |
Director |
|
Address : |
Bhala Dal Mill, Kholeshwar Akola District, Maharashtra, India |
|
Date of Birth/Age : |
22.05.1962 |
|
Date of Appointment : |
02.07.1985 |
|
Din No.: |
00500726 |
|
|
|
|
Name : |
Mr. Radheshyam Laxminarayan Chandak |
|
Designation : |
Director |
|
Address : |
Village Wankhed, Tq. Sangrampur, Distirct Buldhana, Maharashtra, India |
|
Date of Birth/Age : |
15.04.1958 |
|
Date of Appointment : |
11.01.2005 |
|
Din No.: |
00509073 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2013
NOTE: SHAREHOLDING DETAILS FILE ATTACHED.
AS ON 30.09.2013
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Directors
or relatives of directors |
|
70.64 |
|
Other
|
|
29.36 |
|
TOTAL |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
The Company is engaged in Manufacturing of Expeller/ Solvent Oil and
Cakes/ Doc and All Activities. |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
|||||||||||||||||||||
|
|
|
|||||||||||||||||||||
|
Bankers : |
State Bank India
Industrial Finance Branch, Jaggi's Building, Kranti Chowk, Jalna Road,
Aurangabad - 431005, Maharashtra, India |
|||||||||||||||||||||
|
|
|
|||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Paliwal Modani and Company Chartered Accountants |
|
Address : |
Parkhi Bhawan, Opposite City, Post Office, Itwari, Nagpur-440002,
Maharashtra, India |
|
PAN No: |
ABKPP3689F |
|
|
|
|
Associates Concern : |
·
Jodha Udyog, Akola ·
Tawari Traders, Malkapur ·
Jodha Agro Industries, Akola ·
Jai Bharat Oil Mill, Malkapur |
CAPITAL STRUCTURE
AS ON 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
200000 |
Equity Shares |
Rs.100/- each |
Rs.20.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
162000 |
Equity Shares |
Rs.100/-
each |
Rs.16.200
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 |
16.200 |
14.400 |
13.275 |
|
(b) Reserves & Surplus |
126.308 |
97.658 |
84.992 |
|
(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) |
142.508 |
112.058 |
98.267 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term
borrowings |
33.311 |
38.552 |
66.321 |
|
(b) Deferred tax liabilities (Net) |
14.786 |
12.182 |
9.261 |
|
(c) Other long
term liabilities |
0.000 |
4.666 |
0.265 |
|
(d) long-term
provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
48.097 |
55.400 |
75.847 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
170.065 |
111.901 |
85.390 |
|
(b)
Trade payables |
9.688 |
14.216 |
3.303 |
|
(c)
Other current liabilities |
21.317 |
19.930 |
4.837 |
|
(d) Short-term
provisions |
0.099 |
1.205 |
0.367 |
|
Total Current
Liabilities (4) |
201.169 |
147.252 |
93.897 |
|
|
|
|
|
|
TOTAL |
391.774 |
314.710 |
268.011 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
132.256 |
134.842 |
120.342 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
1.013 |
2.601 |
2.324 |
|
(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 |
2.250 |
2.243 |
2.245 |
|
(e) Other
Non-current assets |
0.102 |
0.617 |
0.696 |
|
Total Non-Current
Assets |
135.621 |
140.303 |
125.607 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
126.345 |
100.344 |
114.328 |
|
(c)
Trade receivables |
112.361 |
64.718 |
22.149 |
|
(d) Cash
and cash equivalents |
6.860 |
0.345 |
1.340 |
|
(e)
Short-term loans and advances |
10.587 |
9.000 |
4.587 |
|
(f)
Other current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
256.153 |
174.407 |
142.404 |
|
|
|
|
|
|
TOTAL |
391.774 |
314.710 |
268.011 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
1027.989 |
739.263 |
558.167 |
|
|
|
Other Income |
1.495 |
6.028 |
3.093 |
|
|
|
TOTAL (A) |
1029.484 |
745.291 |
561.260 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
864.020 |
663.969 |
473.821 |
|
|
|
Purchases of stock-in-trade |
0.000 |
20.591 |
37.007 |
|
|
|
Employee benefit expense |
7.217 |
5.887 |
5.839 |
|
|
|
Other expenses |
68.007 |
43.843 |
29.691 |
|
|
|
Exceptional items |
0.000 |
(0.982) |
0.956 |
|
|
|
Changes in inventories
of finished goods, work-in-progress and stock-in-trade |
27.650 |
(29.921) |
(6.107) |
|
|
|
TOTAL (B) |
966.894 |
703.387 |
541.207 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
62.590 |
41.904 |
20.053 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
21.963 |
21.210 |
10.005 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
40.627 |
20.694 |
10.048 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
8.189 |
7.374 |
4.380 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
32.438 |
13.320 |
5.668 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
11.488 |
4.029 |
2.801 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
20.950 |
9.291 |
2.867 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
140.041 |
0.000 |
NA |
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
145.49 |
69.99 |
21.60 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
2.04
|
1.25 |
0.51 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
3.15
|
1.80 |
1.02 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
8.30
|
4.27 |
2.13 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.23
|
0.12 |
0.05 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
1.43
|
1.34 |
1.54 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.27
|
1.18 |
1.52 |
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 |
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] |
PAN of Proprietor/Partner/Director, if available |
No |
|
32] |
Date
of Birth 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 |
INDEX OF CHARGES:
|
S.
NO. |
CHARGE
ID |
DATE
OF CHARGE CREATION/MODIFICATION |
CHARGE
AMOUNT SECURED |
CHARGE
HOLDER |
ADDRESS |
SERVICE
REQUEST NUMBER (SRN) |
|
1 |
10364039 |
01/12/2012
* |
242,800,000.00 |
STATE
BANK OF INDIA |
INDUSTRIAL
FINANCE BRANCH, JAGGI'S BUILDING, KRANTI CHOWK, AURANGABAD - 431005,
MAHARASHTRA, INDIA |
B64663289 |
|
2 |
90236376 |
27/01/2006
* |
9,500,000.00 |
STATE
BANK OF INDIA |
INDUSTRIAL
FINANCE BRANCH, JAGGI'S BUILDING, KRANTI CHOWK, AURANGABAD - 431005,
MAHARASHTRA, INDIA |
- |
|
3 |
90236240 |
01/12/2012
* |
242,800,000.00 |
STATE
BANK INDIA |
INDUSTRIAL
FINANCE BRANCH, JAGGI'S BUILDING, KRANTI CHOWK, AURANGABAD - 431005, MAHARASHTRA,
INDIA |
B64679426 |
|
4 |
90218520 |
24/07/2003
* |
15,000,000.00 |
STATE
BANK OF INDIA |
INDUSTRIAL
FINANCE BRANCH, JAGGI'S BUILDING, KRANTI CHOWK, AURANGABAD - 431005,
MAHARASHTRA, INDIA |
- |
|
5 |
90217179 |
25/07/1989
* |
3,300,000.00 |
STATE
BANK OF INDIA |
PARLI
VAIJNATH BRANCH, BEED - 431515, MAHARASHTRA, |
- |
|
6 |
90218841 |
31/03/1997
* |
3,300,000.00 |
STATE
BANK OF INDIA |
PARLI
VAIJNATH BRANCH, BEED - 431515, MAHARASHTRA, |
- |
|
* Date of charge modification |
||||||
|
Unsecured Loan |
As
on 31.03.2013 [Rs.
in Millions] |
As
on 31.03.2012 [Rs.
in Millions] |
|
Long Term
Borrowings |
|
|
|
Loans and Advances From Directors |
24.554 |
15.487 |
|
TOTAL
|
24.554 |
15.487 |
FIXED ASSETS:
·
Land
·
Land Development
·
Non Factory Building
·
Genset Block
·
Cooling Equipment
·
Electric Installation
·
Weight Bridge
·
Office Equipments
·
Vehicles
·
Computer
·
Plant and Machinery
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.62.68 |
|
|
1 |
Rs.101.97 |
|
Euro |
1 |
Rs.84.78 |
INFORMATION DETAILS
|
Report Prepared
by : |
TPT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--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 |
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
35 |
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.