MIRA
INFORM REPORT
|
Report Date : |
07.01.2014 |
IDENTIFICATION DETAILS
|
Name : |
SIDDHARTH INTERNATIONAL |
|
|
|
|
Registered
Office : |
GPO Box No.497, Green House, 2nd Floor, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
15.04.1998 |
|
|
|
|
Com. Reg. No.: |
BA-73553 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 10.000 Millions |
|
|
|
|
IEC No.: |
0398003025 |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAKFS2303N |
|
|
|
|
Legal Form : |
Partnership Concern with an unlimited liability of the partners |
|
|
|
|
Line of Business
: |
Manufacturer, Exporter, Importer and Trader of Pharma Raw Material,
Hearbal Extracts, Chemicals, Dyestuffs |
|
|
|
|
No. of Employees
: |
10 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 320000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established concern having a satisfactory track record. Mr. Sunil Goenka (Partner) has provided us all the financial
information. There appears dip in the sales turnover of the concern. There also
appears slight dip in the profit of the concern during 2013. However, general position of the concern appear to be decent. Trade relations are reported as fair. Business is active. Payments are
reported to be usually correct. The concern can be considered normal for business dealings 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.
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 DEFAILTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAILTERS’ 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. Sunil Goenka |
|
Designation : |
Partner |
|
Contact No.: |
91-9820026621 |
|
Date : |
03.01.2014 |
LOCATIONS
|
Registered Office : |
GPO Box No.497, Green House, 2nd Floor, Green Street, Fort,
Mumbai 400023, Maharashtra, India |
|
Tel. No.: |
91-22-22662136 / 22663119 |
|
Mobile No.: |
91-9820026621 (Mr. Sunil Goenka) 91-9867455557 (Mr. Vishal) |
|
Fax No.: |
91-22-22664115 |
|
E-Mail : |
|
|
Website : |
PARTNERS
|
Name : |
Mr. Sunil Goenka |
|
Designation : |
Partner |
|
Address : |
35 Hari Niwas, C-Road, Churchgate, Mumbai-400020, Maharashtra,
India |
|
Date of Birth/Age : |
27.03.1960 |
|
Qualification : |
B Com |
|
Experience : |
23 Years |
|
|
|
|
Name : |
Ms. Sheela Goenka |
|
Designation : |
Partner |
|
Address : |
35 Hari Niwas, C-Road, Churchgate, Mumbai-400020, Maharashtra,
India |
|
Date of Birth/Age : |
16.07.1960 |
|
Qualification : |
B Com |
|
Experience : |
15 Years |
|
|
|
|
Name : |
Mr. Vishal Goenka |
|
Designation : |
Partner |
|
Address : |
35 Hari Niwas, C-Road, Churchgate, Mumbai-400020, Maharashtra,
India |
|
Date of Birth/Age : |
23.03.1983 |
|
Qualification : |
B Chem |
|
Experience : |
8 Years |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer, Exporter, Importer and Trader of Pharma Raw Material,
Hearbal Extracts, Chemicals, Dyestuffs |
|
|
|
|
Exports : |
|
|
Countries : |
All Countries |
|
|
|
|
Imports : |
|
|
Countries : |
All Countries |
|
|
|
|
Terms : |
|
|
Selling : |
L/C, Cash, Credit (30 Days / 60 Days / 90 Days / 150 Days) |
|
|
|
|
Purchasing : |
DP at SIEHT, (30 Days / 60 Days / 90 Days / 120 Days) |
GENERAL INFORMATION
|
Suppliers : |
·
Chemical Corpn Private Limited ·
JPN Pharma Private Limited ·
Karunesh Remedies ·
Nyati Pharma Private Limited ·
Ven Petrochem and Pharma (India) Private Limited ·
Vishal Pharmakem ·
Maharashtra Warehousing Corporation |
||||||||||
|
|
|
||||||||||
|
Customers : |
Retailers, End Users ·
Anrox
Chemicals Private Limited ·
Atul Polychem ·
Auchtel Products Limited ·
Hardcastle Petrofer Private Limited ·
Ideal Chemi Plast Private Limited ·
Lakeland Chemi Plast Private Limited ·
Mazda Colours Limited ·
Ran Chemicals Private Limited ·
Sri Vyjyanthi Labs Private Limited ·
Wecaba Chemicals ·
Zion Industries |
||||||||||
|
|
|
||||||||||
|
No. of Employees : |
10 (Approximately) |
||||||||||
|
|
|
||||||||||
|
Bankers : |
·
Andhra Bank, Fort Branch, 18 Homi Modx Street,
Fort, Mumbai-400023, Maharashtra, India
·
Bank of India ·
State Bank of India |
||||||||||
|
|
|
||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Singhvi and Sancheti Chartered Accountant |
|
Address : |
19/2, Odvji, Bhavan, 477, JSS Road, Chira Bazar, Mumbai-400002,
Maharashtra, India |
|
Tel. No.: |
91-22-22010238 |
|
Fax No.: |
91-22-22003175 |
|
E-Mail : |
CAPITAL STRUCTURE
AS ON 31.03.2013
|
Capital Investment : |
|
|
Owned : |
Rs. 10.000 Millions |
|
Borrowed : |
|
|
Total : |
Rs. 10.000
Millions |
PARTNERS FIXED
CAPITAL A/C AS ON 31.03.2013
(Rs. In Millions)
|
Name of Partners |
% of Share |
Balance As on
01.04.2012 |
Balance As on
31.03.2013 |
|
Mrs. Sheela Goenka |
40 |
4.000 |
4.000 |
|
Mr. Sunil Goenka |
30 |
3.000 |
3.000 |
|
Mrs. Vishal Goenka |
15 |
1.500 |
1.500 |
|
Miss Devika Goenka |
15 |
1.500 |
1.500 |
|
|
|
10.000 |
10.000 |
PARTNERS CURRENT
A/C AS ON 31.03.2013
(Rs. In Millions)
|
Name of Partners |
% of Share |
Balance As on
01.04.2012 |
Share of Profit |
Withdrawal /
Addition |
Balance As on
31.03.2013 |
|
Mrs. Sheela Goenka |
40 |
16.818 |
4.494 |
1.259 |
22.571 |
|
Mr. Sunil Goenka |
30 |
15.573 |
3.371 |
6.081 |
25.025 |
|
Mrs. Vishal Goenka |
15 |
11.289 |
1.685 |
1.208 |
14.183 |
|
Miss Devika Goenka |
15 |
7.358 |
1.685 |
1.512 |
10.556 |
|
|
|
51.038 |
11.235 |
10.060 |
72.335 |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Partners Capital |
10.000 |
10.000 |
10.000 |
|
|
2] Partners Current A/C |
72.335 |
51.038 |
37.273 |
|
|
3] Reserves & Surplus |
0.000 |
0.000 |
0.000 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
82.335 |
61.038 |
47.273 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
23.394 |
18.557 |
0.000 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
23.394 |
18.557 |
0.000 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
105.729 |
79.595 |
47.273 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
1.214 |
0.371 |
0.233 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
56.861 |
0.501 |
7.211 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
8.911
|
4.795 |
1.647 |
|
|
Sundry Debtors |
48.297
|
56.442 |
35.187 |
|
|
Cash & Bank Balances |
2.018
|
22.642 |
4.251 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
5.114
|
4.773 |
5.718 |
|
Total
Current Assets |
64.340
|
88.652 |
46.803 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
11.472
|
3.853 |
3.827 |
|
|
Other Current Liabilities |
0.100
|
0.037 |
0.032 |
|
|
Provisions |
5.114
|
6.039 |
3.115 |
|
Total
Current Liabilities |
16.686
|
9.929 |
6.974 |
|
|
Net Current Assets |
47.654
|
78.723 |
39.829 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
105.729 |
79.595 |
47.273 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
151.473 |
189.505 |
128.099 |
|
|
|
Other Income |
1.819 |
0.775 |
0.309 |
|
|
|
TOTAL (A) |
153.292 |
190.280 |
128.408 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Goods Sold |
118.673 |
153.409 |
106.633 |
|
|
|
Advertisement Expenses |
0.245 |
|
|
|
|
|
Analysis Charges |
0.035 |
|
|
|
|
|
Audit Fees |
0.063 |
|
|
|
|
|
Book and Periodicals |
0.012 |
|
|
|
|
|
Brokerage and Commission |
0.227 |
|
|
|
|
|
Business Promotion Expenses |
0.166 |
|
|
|
|
|
Computer Expenses |
0.053 |
|
|
|
|
|
Conveyance and Travelling Expenses |
1.032 |
|
|
|
|
|
Coolie and Cartage |
0.465 |
|
|
|
|
|
Donation |
0.050 |
|
|
|
|
|
ECGC Charges |
0.571 |
|
|
|
|
|
Electricity Charges |
0.111 |
|
|
|
|
|
Freight and Forwarding |
0.931 |
|
|
|
|
|
General Expenses |
0.202 |
|
|
|
|
|
Insurance Charges |
0.136 |
|
|
|
|
|
Interest on Loan |
2.537 |
18.192 |
14.123 |
|
|
|
International Exhibition |
1.008 |
|
|
|
|
|
Loss on Sale of Motor Car |
0.129 |
|
|
|
|
|
Membership and Subscription |
0.095 |
|
|
|
|
|
Motor Car Expenses |
0.317 |
|
|
|
|
|
Octroi Expenses |
0.004 |
|
|
|
|
|
Printing and Stationery |
0.168 |
|
|
|
|
|
Professional Tax A/C Employer |
0.017 |
|
|
|
|
|
Rent, Rates and Taxes and Octroi |
0.363 |
|
|
|
|
|
Repairs and Maintenance |
0.153 |
|
|
|
|
|
Salaries |
1.371 |
|
|
|
|
|
Society Charges |
0.073 |
|
|
|
|
|
Staff Welfare Expenses |
0.039 |
|
|
|
|
|
Telephone Expenses |
0.088 |
|
|
|
|
|
VAT Audit Fees |
0.017 |
|
|
|
|
|
Warehousing Charges |
0.209 |
|
|
|
|
|
Partners Capital A/C |
6.600 |
|
|
|
|
|
TOTAL (B) |
136.160 |
171.601 |
120.756 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
17.132 |
[Including Financial |
[Including Financial |
|
|
|
|
|
Expenses |
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
1.036 |
And |
And |
|
|
|
|
|
Depreciation] |
Depreciation] |
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
16.096 |
|
|
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
0.258 |
|
|
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
15.838 |
18.679 |
7.652 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
4.602 |
5.834 |
2.352 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
11.236 |
12.845 |
5.300 |
|
%2007-Jan-2014_files/image001.gif){kind=small}
%2007-Jan-2014_files/image002.gif){kind=small}
%2007-Jan-2014_files/image003.gif){kind=small}
%2007-Jan-2014_files/image004.gif){kind=small}
The above information has been parted by Mr. Sunil Goenka.
Note : Sole Proprietory and Partnership concerns are
exempted from filing their financials with the Government Authorities or
Registry.
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
7.33
|
6.75 |
4.13 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
10.46
|
9.86 |
5.97 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
24.16
|
20.98 |
16.27 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.19
|
0.31 |
0.16 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.28
|
0.30 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
3.86
|
8.93 |
6.71 |
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 |
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 |
No |
|
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 |
Yes |
|
30] |
Major Shareholders, if
available |
No |
|
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 |
FIXED ASSETS
·
Computer
·
Air Conditioner
·
Fax Machine
·
Mobile
·
Modern
·
Telephone
·
Weighing Machine
·
Camera
·
Motor Car
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 records 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 records 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. 62.32 |
|
|
1 |
Rs. 101.99 |
|
Euro |
1 |
Rs. 84.61 |
INFORMATION DETAILS
|
Information
Gathered by : |
NYA |
|
|
|
|
Report Prepared
by : |
DPT |
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 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
45 |
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.