MIRA
INFORM REPORT
|
Report Date : |
06.01.2014 |
IDENTIFICATION DETAILS
|
Name : |
STANDARD CONDUITS PRIVATE LIMITED (w.e.f. 23.07.2002) |
|
|
|
|
Formerly Known
As : |
STANDARD CONDUITS LIMITED |
|
|
|
|
Registered
Office : |
2/3, Ashok Chambers, Devji Ratansi Marg, |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
27.06.1995 |
|
|
|
|
Com. Reg. No.: |
11-089966 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 88.491 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U25200MH1995PTC089966 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMS28902G |
|
|
|
|
PAN No.: [Permanent Account No.] |
AADCS8686C |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Importer and Dealer of Iron and Steel. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (43) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 1200000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a part of “Standard Group of Companies”. It is an
established company having satisfactory track record. There appear a decline in the company’s net profitability during 2012
due to large forex losses suffered by the company during last two years. However, the rating takes in to consideration the long experience of
the promoters in the steel trading business; established relationships of the
company with reputed steel mills, wide and comfortable capital structure of
the company. Trade relations are fair. Business is active. Payment terms are
reported to be slow but correct. The company can be considered for business dealings at usual trade
terms and condition. Note: Latest financial for the year 2013 is not available with us. |
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 |
ICRA |
|
Rating |
Long term based limits: “BBB” |
|
Rating Explanation |
Moderate degree of safety and moderate
credit risk. |
|
Date |
May 2013 |
|
Rating Agency Name |
ICRA |
|
Rating |
Short term letter of credit limits: “A3+” |
|
Rating Explanation |
Moderate degree of safety and high credit
risk. |
|
Date |
May 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.
INFORMATION PARTED BY
|
Name : |
Mr. Ramesh |
|
Designation : |
Chief Finance Officer |
|
Contact No.: |
91-22-66314687 / 43430300 |
|
Date : |
03.01.2013 |
LOCATIONS
|
Registered Office : |
2/3, Ashok Chambers, Devji Ratansi Marg, Broach Street, Masjid Bunder
East, Mumbai – 400009, Maharashtra, India
|
|
Tel. No.: |
91-22-66314687/ 23771482/ 23770902/
43430300 / 663146878 |
|
Fax No.: |
91-22-23702548/ 23702648/ 43430333 |
|
E-Mail : |
|
|
Area : |
3000 Sq. Ft. |
|
Location : |
Owned |
DIRECTORS
As on: 30.09.2013
|
Name : |
Mr. Nikunj Mansukhlal Turhkia |
|
Designation : |
Director |
|
Address : |
141, Shan Apartment, |
|
Date of Birth/Age : |
48 years |
|
Qualification : |
Metallurgical Engineer (B. Tech) from IIT, Mumbai |
|
Date of Appointment : |
27.06.1995 |
|
PAN No : |
AABPT1260A |
|
DIN No.: |
00082170 |
|
|
|
|
Name : |
Mr. Mansukhlal Rughnath Turakhia |
|
Designation : |
Director |
|
Address : |
141, Shan Apartment, |
|
Date of Appointment : |
27.06.1995 |
|
DIN No.: |
00180243 |
|
|
|
|
Name : |
Mrs. Heena Nikunj Turakhia |
|
Designation : |
Additional Director |
|
Address : |
141, Shan Apartment, |
|
Date of Birth/Age : |
12.03.1966 |
|
Date of Appointment : |
07.02.2011 |
|
PAN No : |
AAAPT6542N |
|
DIN No.: |
00229623 |
KEY EXECUTIVES
|
Name : |
Mr. Ramesh |
|
Designation : |
Chief Finance Officer |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 30.09.2013
SHAREHOLDIND DETAILS FILE ATTACHED
Equity Share Break up (Percentage of Total Equity)
As on: 30.09.2013
|
Category |
|
Percentage |
|
|
|
|
|
Bodies corporate |
|
4.37 |
|
Directors or relatives of directors |
|
91.84 |
|
Other top fifty shareholders |
|
3.79 |
|
|
|
|
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Importer and Dealer of Iron and Steel. |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
|||||||||||||||
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|
|
|||||||||||||||
|
Bankers : |
Bank of India, Mumbai Mid Corporate, 70/80, M.G. Road, Bank of India Building, Mezzanine Floor, Fort, Mumbai - 400001, Maharashtra, India |
|||||||||||||||
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|
|||||||||||||||
|
Facilities : |
(Rs.
In Millions)
|
|||||||||||||||
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
A.C. Kamdar and Company Chartered Accountants |
|
Address : |
6/7, |
|
PAN No.: |
AAAFA2793E |
|
|
|
|
Parties where control exists : |
v Mahavir
Corporation v Standard
Financial Advisors Private Limited, v Turakhia
Ferromet Private Limited, v Turakhia Steel
and Metal India Private Limited, v Turakhia Steels
Private Limited, v Standard Galva
Steels Private Limited, v Standard
Realtors Private Limited, v Turakhia
Infrastructure Private Limited, |
CAPITAL STRUCTURE
As on: 30.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
8850000 |
Equity Shares |
Rs.10/- each |
Rs. 88.500 Millions |
|
270000 |
Equity Shares |
Rs.10/- each |
Rs. 2.700 Millions |
|
|
Total |
|
Rs. 91.200
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
8849138 |
Equity Shares |
Rs.10/- each |
Rs. 88.491 Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2012 |
31.03.2011 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
88.491 |
10.747 |
|
(b) Reserves & Surplus |
|
224.379 |
199.653 |
|
(c) Money
received against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
|
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
|
312.870 |
210.400 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
51.707 |
63.903 |
|
(b) Deferred tax liabilities (Net) |
|
0.000 |
0.000 |
|
(c) Other long term liabilities |
|
0.000 |
0.000 |
|
(d) long-term provisions |
|
48.555 |
40.333 |
|
Total Non-current Liabilities (3) |
|
100.262 |
104.236 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term
borrowings |
|
31.318 |
12.379 |
|
(b) Trade payables |
|
1202.684 |
891.207 |
|
(c) Other current
liabilities |
|
18.308 |
27.509 |
|
(d) Short-term provisions |
|
0.727 |
0.976 |
|
Total Current Liabilities (4) |
|
1253.037 |
932.071 |
|
|
|
|
|
|
TOTAL |
|
1666.169 |
1246.707 |
|
|
|
|
|
|
II. ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
5.835 |
7.202 |
|
(ii) Intangible Assets |
|
0.025 |
0.000 |
|
(iii) Capital
work-in-progress |
|
0.000 |
0.000 |
|
(iv)
Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
0.019 |
0.000 |
|
(c) Deferred tax assets (net) |
|
0.421 |
0.337 |
|
(d) Long-term Loan and Advances |
|
0.200 |
0.000 |
|
(e) Other Non-current assets |
|
0.000 |
0.000 |
|
Total Non-Current Assets |
|
6.500 |
7.539 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
0.000 |
0.000 |
|
(b) Inventories |
|
573.803 |
416.704 |
|
(c) Trade receivables |
|
617.751 |
447.579 |
|
(d) Cash and cash
equivalents |
|
277.209 |
212.264 |
|
(e) Short-term loans
and advances |
|
183.543 |
160.201 |
|
(f) Other current
assets |
|
7.363 |
2.420 |
|
Total Current Assets |
|
1659.669 |
1239.168 |
|
|
|
|
|
|
TOTAL |
|
1666.169 |
1246.707 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
10.747 |
|
|
2] Share Application Money |
|
|
58.950 |
|
|
3] Reserves & Surplus |
|
|
166.616 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
236.313 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
0.000 |
|
|
2] Unsecured Loans |
|
|
10.000 |
|
|
TOTAL BORROWING |
|
|
10.000 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
246.313 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
6.960 |
|
|
Capital work-in-progress |
|
|
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.000 |
|
|
DEFERREX TAX ASSETS |
|
|
0.133 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
293.802
|
|
|
Sundry Debtors |
|
|
554.531
|
|
|
Cash & Bank Balances |
|
|
205.376
|
|
|
Other Current Assets |
|
|
0.537
|
|
|
Loans & Advances |
|
|
190.233
|
|
Total
Current Assets |
|
|
1244.479 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
957.449 |
|
|
Other Current Liabilities |
|
|
3.657 |
|
|
Provisions |
|
|
44.153 |
|
Total
Current Liabilities |
|
|
1005.259 |
|
|
Net Current Assets |
|
|
239.220
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
246.313 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
|
|
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL |
NA |
NA |
2307.553 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
NA |
NA |
2252.290 |
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
NA |
NA |
55.263 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
NA |
NA |
19.215 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
24.725 |
3.304 |
36.048 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
19.53 |
30.74 |
33.54 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
NA
|
NA |
1.56 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
NA
|
NA |
4.44 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
NA
|
NA |
0.23 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.27
|
0.36 |
0.04 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.32
|
1.33 |
1.24 |
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 |
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 one year |
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 |
Yes |
|
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:
(Rs in Millions)
|
PARTICULARS |
31.03.2012
|
31.03.2011
|
|
Long term
Borrowings : |
|
|
|
Loans and Advances from others |
13.007 |
15.203 |
|
Other loans and advances |
38.700 |
48.700 |
|
Total |
51.707 |
63.903 |
FINANCIAL
PERFOANMANCE
During the year under the review company has made profit (after tax) of Rs.24.725 millions (Last year profit Rs.3.304 millions)
INDEX OF CHARGE:
|
Sr .No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10354050 |
20/04/2012 |
75,000,000.00 |
BANK OF |
MUMBAI MID CORPORATE, 70/80, M.G. ROAD,
BANK OF INDIA BUILDING, MEZZANINE FLOOR, FORT, MUMBAI, Maharashtra - 400001,
INDIA |
B39067327 |
|
2 |
10277760 |
21/03/2011 |
150,000,000.00 |
BANK OF |
MUMBAI MID CORPORATE BRANCH, BOI BUILDING,
70/80,M. G. ROAD, FORT, MUMBAI, Maharashtra -400023, INDIA |
B09753591 |
|
3 |
90158082 |
20/04/2013 * |
2,050,000,000.00 |
BANK OF |
MUMBAI MID CORPORATE, 70/80, |
B76856327 |
FIXED ASSETS
·
Office Equipments
·
Computer
·
Machine Tools
·
Air Conditioner
·
Motor Car
·
Fax Machine
·
Land
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. 102.53 |
|
Euro |
1 |
Rs. 85.20 |
INFORMATION DETAILS
|
Information
Gathered by : |
PDT |
|
|
|
|
Report Prepared
by : |
DPH |
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 |
5 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
4 |
|
--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 |
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 |
|
43 |
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.