MIRA
INFORM REPORT
|
Report Date : |
04.01.2014 |
IDENTIFICATION DETAILS
|
Name : |
HYDROFLEX PIPE PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
4, Suflam Estate, Near Avtar Hotel, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
02.07.2004 |
|
|
|
|
Com. Reg. No.: |
04-044405 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 0.100 million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U31909GJ2004PTC044405 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
AHMH01566F |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCH4397M |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer and Exporter of Stainless Steel
Metallic Corrugated Flexible Hoses. |
|
|
|
|
No. of Employees
: |
Not Divulged |
RATING & COMMENTS
|
MIRA’s Rating : |
B (26) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 6384 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having a moderate track record. External borrowing of the company seems to be huge, which acts as threatening
to the liquidity position of the company. However, trade relations are reported as fair. Business is active.
Payments are reported to be slow. 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, 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.
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.
INFORMATION DENIED BY
|
Name : |
Mr. Dilipbhai Patel |
|
Designation : |
Director |
|
Contact No.: |
91-9327554566 |
|
Date : |
30.11.2013 |
LOCATIONS
|
Registered Office : |
4, Suflam Estate, Near Avtar Hotel, Isanpur Highway, Isanpur,
Ahmedabad-382443, Gujarat, India |
|
Tel. No.: |
91-79-25716213 / 25716157 / 30954566 |
|
Mobile No.: |
91-9879538580 / 9327435442 / 9327538580 (Mr. Ramesh Oza) |
|
Fax No.: |
91-79-25710302 |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
|
|
|
|
Factory : |
Near Cargo Motors, |
|
Tel. No.: |
91-79-2718-233133 |
|
Fax No.: |
91-79-2718-233133 |
|
Location : |
Owned |
DIRECTORS
AS ON 30.09.2013
|
Name : |
Mr. Dilipbhai Rancchodbhai Patel |
|
Designation : |
Director |
|
Address : |
18/B, Gopalkunj Society Rambaug, Maninagar, Ahmedabad-380008, |
|
Date of Birth/Age : |
30.04.1945 |
|
Date of Appointment : |
02.07.2004 |
|
DIN No.: |
00635666 |
|
|
|
|
Name : |
Mr. Rameshbhai Vishnuprasad Oza |
|
Designation : |
Director |
|
Address : |
SA-5, Ashapuri Society, Near Police Station, Ghodasar, Ahmedabad, |
|
Date of Birth/Age : |
09.08.1943 |
|
Date of Appointment : |
02.07.2004 |
|
DIN No.: |
00635803 |
|
|
|
|
Name : |
Mr. Bhupendra Ambalal Raghavji |
|
Designation : |
Director |
|
Address : |
34, Patel Society, Rambaug, Maninagar, Ahmedabad-380008, |
|
Date of Birth/Age : |
03.09.1949 |
|
Date of Appointment : |
02.07.2004 |
|
DIN No.: |
00635707 |
|
|
|
|
Name : |
Mr. Nitinbhai Chimanlal Desai |
|
Designation : |
Director |
|
Address : |
4, Pradip Shops and Flats, Narayan Nagar, Paldi, Ahmedabad-380007, |
|
Date of Birth/Age : |
16.02.1944 |
|
Date of Appointment : |
02.07.2004 |
|
DIN No.: |
00635745 |
|
|
|
|
Name : |
Mr. Fenilbhai Mahendrabhai Patel |
|
Designation : |
Director |
|
Address : |
26/C, Ishwamagar Society, |
|
Date of Birth/Age : |
14.04.1974 |
|
Date of Appointment : |
02.07.2004 |
|
DIN No.: |
00635839 |
|
|
|
|
Name : |
Mr. Amitbhai Dilipbhai Patel |
|
Designation : |
Director |
|
Address : |
18/B, Gopalkunj Society, |
|
Date of Birth/Age : |
31.08.1969 |
|
Date of Appointment : |
02.07.2004 |
|
DIN No.: |
00636095 |
|
|
|
|
Name : |
Mr. Tapan Rameshbhai Oza |
|
Designation : |
Director |
|
Address : |
SA-5, Ashapuri Society Near Police Station, Ghodasar, Ahmedabad, |
|
Date of Birth/Age : |
05.10.1978 |
|
Date of Appointment : |
02.07.2004 |
|
DIN No.: |
00635942 |
|
|
|
|
Name : |
Mr. Ritesh Nitinbhai Desai |
|
Designation : |
Director |
|
Address : |
4, Pradip Shops and Flats, |
|
Date of Birth/Age : |
12.03.1974 |
|
Date of Appointment : |
02.07.2004 |
|
DIN No.: |
00635911 |
|
|
|
|
Name : |
Mr. Kinchit Bhupendrabhai Patel |
|
Designation : |
Director |
|
Address : |
34, Patel Society, Jawahar Chowk, Maninagar, Ahmedabad-380008, |
|
Date of Birth/Age : |
23.03.1980 |
|
Date of Appointment : |
02.07.2004 |
|
DIN No.: |
00635962 |
|
|
|
|
Name : |
Mr. Chinmay Mahendrabhai Patel |
|
Designation : |
Director |
|
Address : |
26/C, Ishwamagar Society, |
|
Date of Birth/Age : |
01.11.1979 |
|
Date of Appointment : |
02.07.2004 |
|
DIN No.: |
00636024 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2013
|
Names of Shareholders |
No. of Shares |
|
Dilipbhai Rancchodbhai Patel |
1075 |
|
Rameshbhai Vishnuprasad Oza |
1125 |
|
Bhupendrabhai Ambalal Raghavji |
1125 |
|
Fenilbhai Mahendrabhai Patel |
1125 |
|
Amitbhai Dilipbhai Patel |
1125 |
|
Tapan Rameshbhai Oza |
1125 |
|
Ritesh Nitinbhai Desai |
1000 |
|
Kinchit Bhupendrabhai Patel |
1125 |
|
Chinmay Mahendrabhai Patel |
1125 |
|
Total |
9950 |
Equity Share Break up (Percentage of Total Equity)
AS ON 30.09.2013
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Stainless Steel Metallic Corrugated Flexible Hoses. |
|
|
|
|
Products : |
· Braided Hydraulic Hoses · Multi Spiral Hydraulic Hoses · Braided Industrial Hoses · Steam Hoses · Ptfe Flexible Hoses · Ptfe Convoluted Flexible Hoses · Camlock Coupling · Quick Release Coupling · Thermoplast High Pressure Hoses · Low Pressure Flexible Rubber Hoses · Hoses For Fertilizers And Chemical Plants · Industrial Rubber Hoses · Standard Hose Fitting With Thread Specifications · Coupling
Ends |
GENERAL INFORMATION
|
No. of Employees : |
Not Divulged |
||||||||||||
|
|
|
||||||||||||
|
Bankers : |
Union Bank of
India, Maninagar, Ahmedabad, Gujarat, India |
||||||||||||
|
|
|
||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Himanshu Patel and Company Chartered Accountants |
|
Address : |
305, Riddhi Complex, Opposite Loha Bhavan, |
|
PAN No.: |
ACNPP2354D |
CAPITAL STRUCTURE
AS ON 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000 |
Equity Shares |
Rs.10/- each |
Rs. 0.100 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000 |
Equity Shares |
Rs.10/- each |
Rs. 0.100 Million |
|
|
|
|
|
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 |
0.100 |
0.100 |
0.100 |
|
(b) Reserves & Surplus |
1.496 |
1.221 |
(0.666) |
|
(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) |
1.596 |
1.321 |
(0.566) |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
36.077 |
33.667 |
26.727 |
|
(b) Deferred tax liabilities (Net) |
0.797 |
0.903 |
0.744 |
|
(c) Other long term liabilities |
1.235 |
2.623 |
1.077 |
|
(d) long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current Liabilities (3) |
38.109 |
37.193 |
28.548 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade payables |
8.204 |
6.227 |
7.404 |
|
(c) Other current
liabilities |
1.139 |
1.756 |
0.835 |
|
(d) Short-term provisions |
0.000 |
0.000 |
0.000 |
|
Total Current Liabilities (4) |
9.343 |
7.983 |
8.239 |
|
|
|
|
|
|
TOTAL |
49.048 |
46.497 |
36.221 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
12.087 |
12.971 |
7.911 |
|
(i) Tangible assets |
0.000 |
0.000 |
0.000 |
|
(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 |
0.487 |
0.532 |
0.211 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
0.363 |
0.197 |
0.073 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
12.937 |
13.700 |
8.195 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
11.128 |
10.029 |
7.604 |
|
(c) Trade receivables |
15.547 |
15.020 |
11.414 |
|
(d) Cash and cash
equivalents |
8.645 |
7.067 |
7.575 |
|
(e) Short-term loans and
advances |
0.791 |
0.640 |
1.356 |
|
(f) Other current assets |
0.000 |
0.041 |
0.077 |
|
Total Current Assets |
36.111 |
32.797 |
28.026 |
|
|
|
|
|
|
TOTAL |
49.048 |
46.497 |
36.221 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
77.921 |
81.543 |
57.127 |
|
|
|
Other Income |
NA |
NA |
0.471 |
|
|
|
TOTAL |
NA |
NA |
57.598 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
NA |
56.152 |
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
NA |
NA |
56.152 |
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
1.302 |
3.058 |
1.446 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
2.023 |
1.639 |
1.267 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS) BEFORE TAX |
(0.721) |
1.419 |
0.179 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
(0.996) |
0.240 |
0.183 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS) AFTER TAX |
0.275 |
1.887 |
(0.004) |
|
|
|
|
|
|
|
|
|
|
Earnings/(Loss) Per Share (Rs.) |
27.50 |
18.87 |
(0.45) |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
NA
|
NA
|
(0.001) |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
(0.93)
|
1.74
|
0.31 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(1.48)
|
3.09
|
0.50 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.46)
|
1.07
|
(0.32) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
22.60
|
25.49
|
(47.22) |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
3.87
|
4.11
|
3.13 |
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 |
No |
|
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 |
OPERATIONS REVIEW
This is the 8th year of company achieved
turnover of Rs. 81.692 millions. Hence performance of the company is very
satisfactory and increase. This growth is further seen in future. However to strengthen
the company position your directors do not recommend any dividend.
FIXED ASSETS
·
Land
·
Building
·
Plant and Machinery
·
Furniture
·
Computer
·
Other Equipments
·
Electrical Fitting
·
Vehicles
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.62.41 |
|
|
1 |
Rs.102.54 |
|
Euro |
1 |
Rs.85.20 |
INFORMATION DETAILS
|
Information
Gathered by : |
HTL |
|
|
|
|
Report Prepared
by : |
SDA |
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 |
3 |
|
--PROFITABILIRY |
1~10 |
2 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
26 |
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.