MIRA
INFORM REPORT
|
Report Date : |
08.01.2014 |
IDENTIFICATION DETAILS
|
Name : |
LEO TIMBER PRIVATE LIMITED |
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Registered Office : |
Khasra No.50/16, |
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Country : |
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Financials (as on) : |
31.03.2012 |
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Date of Incorporation : |
12.12.1997 |
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Com. Reg. No.: |
55-091129 |
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Capital Investment / Paid-up Capital : |
Rs.2.940 millions |
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CIN No.: [Company
Identification No.] |
U20299DL1997PTC091129 |
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|
TAN No.: [Tax
Deduction & Collection Account No.] |
DELL01793B |
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PAN No.: [Permanent
Account No.] |
AAACL7603F |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer of Teak Wood, Pine Wood, Timber Products. |
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No. of Employees : |
30 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (30) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 84000 |
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|
Status : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having a moderate track record. Profitability of the company seems to be low. However, trade relations are fair. Business is active. Payment terms
are slow but correct. The company can be considered for business dealing 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.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
|
Rating |
Term Loan: B+ |
|
Rating Explanation |
Risk Prone credit quality and high risk of default. |
|
Date |
March 2013 |
|
Rating Agency Name |
ICRA |
|
Rating |
Non – fund based limits: A4 |
|
Rating Explanation |
Minimal degree at safety and very high credit risk. |
|
Date |
March 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. Davinder Singh |
|
Designation : |
Director |
|
Contact No.: |
91-9810410682 |
|
Date : |
21.12.2013 |
LOCATIONS
|
Registered Office/ Factory : |
Khasra No.50/16, |
|
Tel. No.: |
91-11-65465449/ 28345853/ 25173864 |
|
Mobile No.: |
91-9810410682 (Mr. Davinder Singh) 91-9899328111 (Mr. Ahinsak Singh) |
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Fax No.: |
91-11-28345843 |
|
E-Mail : |
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|
Area : |
2000 sq. ft. |
|
Location : |
Owned |
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Branch Office : |
National Highway No.8/A, Sector No.9/C, Gandhidham – 370 201, |
DIRECTORS
As on 30.09.2013
|
Name : |
Mr. Davinder Singh |
|
Designation : |
Director |
|
Address : |
F-25 AB, Ground Floor, Moti Nagar, |
|
Date of Birth/Age : |
15.07.1955 |
|
Date of Appointment : |
12.12.1997 |
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DIN No.: |
00222403 |
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|
Name : |
Mr. Ahinsak Singh |
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Designation : |
Additional Director |
|
Address : |
F-25 AB, Ground Floor, Moti Nagar, |
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Date of Birth/Age : |
07.06.1986 |
|
Date of Appointment : |
02.12.2009 |
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DIN No.: |
02847706 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2013
|
Names of Shareholders |
|
No. of Shares |
|
Davinder Singh |
|
207500 |
|
Ranjeet Kaur |
|
42100 |
|
Arun Sharma |
|
100 |
|
Dipti Poply |
|
100 |
|
Jasbir Singh Dhir |
|
100 |
|
Neelam Sunil |
|
100 |
|
Paramjit Kalsi |
|
20000 |
|
Sanjay Mehta |
|
24000 |
|
Total
|
|
294000 |
Equity Share Break up (Percentage of Total Equity)
As on 30.09.2013
|
Category |
Percentage |
|
Directors or relatives of Directors |
84.90 |
|
Other top fifty shareholders |
15.10 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Teak Wood, Pine Wood, Timber Products. |
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Products: |
v Teak Wood v Pine Wood v Wood Carvings v Timber Products v Wall Paneling |
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Imports : |
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Products : |
v
Raw Materials |
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Countries : |
v
European Countries v
v
v
v
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Terms : |
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Selling : |
Cash and Credit |
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Purchasing : |
Cash and Credit, Depend |
PRODUCTION STATUS (AS ON 31.03.2011)
|
Particulars |
Licensed
Capacity |
*Installed
Capacity |
|
Annual Capacity (In
Cubic Mtrs.) |
|
|
|
Sawn Timber |
N.A. |
8500.00 |
* Installed Capacity is as certified by the management
|
Particulars |
Unit |
Purchase/
Production |
|
Logs/ Sawn Timber |
Qty. (CBM) |
17029.702 |
GENERAL INFORMATION
|
No. of Employees : |
30 (Approximately) |
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Bankers : |
v Oriental Bank of
Commerce Limited, v
HDFC Bank Limited |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
Sanjay Chopra and Company Chartered Accountants |
|
Address : |
G-80, Lajpat Nagar-1, |
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Tel. No.: |
91-11-29818446/ 29817164/ 29815857 |
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Fax No.: |
91-11-29815857 |
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E-Mail : |
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Income-tax
PAN of auditor or auditor's firm : |
AARFS3500L |
CAPITAL STRUCTURE
As on 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
500000 |
Equity Shares |
Rs.10/- each |
Rs.5.000 millions |
|
|
|
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|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
294000 |
Equity Shares |
Rs.10/- each |
Rs.2.940 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 |
2.940 |
2.940 |
2.500 |
|
(b) Reserves & Surplus |
15.545 |
12.642 |
5.164 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
2.600 |
0.000 |
2.500 |
|
Total
Shareholders’ Funds (1) + (2) |
21.085 |
15.582 |
10.164 |
|
|
|
|
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(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
11.925 |
7.998 |
6.864 |
|
(b) Deferred tax liabilities (Net) |
1.019 |
0.716 |
0.431 |
|
(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) |
12.944 |
8.714 |
7.295 |
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|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
42.888 |
32.234 |
28.463 |
|
(b) Trade payables |
68.532 |
72.591 |
30.848 |
|
(c) Other current
liabilities |
11.636 |
11.825 |
15.947 |
|
(d) Short-term provisions |
1.088 |
0.800 |
0.611 |
|
Total Current Liabilities (4) |
124.144 |
117.450 |
75.869 |
|
|
|
|
|
|
TOTAL |
158.173 |
141.746 |
93.328 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
10.929 |
8.437 |
7.020 |
|
(ii) Intangible Assets |
0.220 |
0.276 |
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 |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
0.083 |
0.083 |
0.083 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
11.232 |
8.796 |
7.103 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
32.178 |
42.342 |
36.296 |
|
(c) Trade receivables |
85.320 |
64.230 |
36.304 |
|
(d) Cash and cash
equivalents |
10.706 |
15.711 |
3.563 |
|
(e) Short-term loans and
advances |
18.155 |
10.198 |
9.834 |
|
(f) Other current assets |
0.582 |
0.469 |
0.228 |
|
Total Current Assets |
146.941 |
132.950 |
86.225 |
|
|
|
|
|
|
TOTAL |
158.173 |
144.746 |
93.328 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL (A) |
438.367 |
389.200 |
231.840 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL (B) |
423.434 |
377.643 |
224.648 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
14.933 |
11.557 |
7.192 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
10.004 |
7.563 |
4.481 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
4.929 |
3.994 |
2.711 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
0.635 |
0.492 |
0.321 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
4.294 |
3.502 |
2.390 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
1.391 |
1.085 |
0.878 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
2.903 |
2.417 |
1.512 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials / Purchases (logs) |
235.052 |
198.534 |
21.295 |
|
|
TOTAL IMPORTS |
235.052 |
198.534 |
21.295 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
9.87 |
8.22 |
6.05 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
0.66
|
0.62 |
0.65 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.71
|
2.47 |
2.56 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.20
|
0.22 |
0.24 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
2.60
|
2.58 |
3.48 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.18
|
1.13 |
1.14 |
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
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 |
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 |
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 |
Note:
The registered office of the company has been shifted from
R.No.22, Ground Floor, 40, QLF Industrial Area, Kirtinagar,
UNSECURED LOAN
|
PARTICULARS |
31.03.2013 (Rs.
in Millions) |
31.03.2012 (Rs.
in Millions) |
|
Long-term
Borrowings |
|
|
|
Term Loan from NBFC |
0.115 |
0.000 |
|
Short-term
borrowings |
|
|
|
Loans and advance |
|
|
|
From related parties |
7.553 |
3.959 |
|
From other |
2.739 |
2.894 |
|
Total |
10.407 |
6.853 |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
10424033 |
02/04/2013 |
890,000.00 |
ORIENTAL BANK OF COMMERCE LIMITED |
MANSAROVER
GARDEN, DELHI, NEW DELHI, DELHI - 1100 15, INDIA |
B74531906 |
|
2 |
10405507 |
04/02/2013 |
1,500,000.00 |
ORIENTAL BANK OF COMMERCE LIMITED |
MANSAROVER GARDEN,
NEW DELHI, NEW DELHI, DELHI - 110015, INDIA |
B68789353 |
|
3 |
10399216 |
19/12/2012 |
575,000.00 |
ORIENTAL BANK OF COMMERCE LIMITED |
MANSAROVER
GARDEN, DELHI, NEW DELHI, DELHI - 1100 15, INDIA |
B66444225 |
|
4 |
10289800 |
20/05/2011 |
1,050,000.00 |
ORIENTAL BANK OF COMMERCE LIMITED |
MANSAROVER
GARDEN, NEW DELHI, DELHI - 110015, INDIA |
B14132625 |
|
5 |
10271502 |
22/02/2011 |
850,000.00 |
ORIENTAL BANK OF COMMERCE LIMITED |
MANSAROVER GARDEN,
NEW DELHI, DELHI, DELHI - 110015, INDIA |
B07781461 |
|
6 |
10135660 |
06/11/2008 |
450,000.00 |
ORIENTAL BANK OF COMMERCE LIMITED |
DELHI, INDIA,
NEW DELHI, DELHI - 110001, INDIA |
A53572871 |
|
7 |
10046327 |
10/09/2013 * |
89,000,000.00 |
ORIENTAL BANK OF COMMERCE |
MANSAROVER
GARDEN, NEW DELHI, DELHI - 110015, INDIA |
B84554385 |
* Date of charge modification
CONTINGENT
LIABILITIES:
|
Particulars |
31.03.2013 (Rs.
in millions) |
31.03.2012 (Rs.
in millions) |
|
Unmatured letter of credit issued against import of purchase |
11.874 |
9.144 |
FIXED ASSETS
Tangible Assets
v Land
v Building
v Plant and Machinery
v Furniture and Fixtures
v Vehicles
v Office Equipments
v Computer
Intangible Assets
v Computer Software
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.62.38 |
|
|
1 |
Rs.102.25 |
|
Euro |
1 |
Rs.84.97 |
INFORMATION DETAILS
|
Information
Gathered by : |
PDT |
|
|
|
|
Report Prepared
by : |
KVT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--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 |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
30 |
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.