|
Report Date : |
16.01.2013 |
IDENTIFICATION DETAILS
|
Name : |
RADHIKA PRINTS PRIVATE LIMITED |
|
|
|
|
Formerly Known
As : |
SHREE ROHIT DYEING AND PRINTING MILLS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
432, GIDC Pandesara, Surat – 394221, Gujarat |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
02.06.1994 |
|
|
|
|
Com. Reg. No.: |
04-022180 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs.12.560 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U18109GJ1994PTC022180 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Dyeing and printing of textile and manufacturer of textiles. |
|
|
|
|
No. of Employees
: |
300 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (29) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 91000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
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|
|
Comments : |
Subject is an established company having a moderate track record. Eventhough the company has reported a decent sales turnover, there
appears a drastic dip in its net profitability during 2013. Profit margin
appears to be low. However, trade relations are fair. Business is active. Payment terms
are reported as slow but correct. 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.
INDIAN ECONOMIC OVERVIEW
The current downturn
provides an opportunity to push ahead with reforms to accelerate growth, says
the latest India Development Update report released by the World Bank. The
report says that the adverse effects of rupee depreciation are likely to be
offset by the gains in the exports performance due to improved external
competitiveness. Since May this year, the local currency has depreciated
substantially and fell to a record level of Rs 68.85 to a dollar on August, 28.
A stagflation like
situation appears to have arisen as inflation jumped to an eight month high of 6.46
% for the month of September. It is up from 6.10 % in August. Growth continues
to be muted with factory output plunging to 0.6 % in August. Onion prices
have risen nearly 300 % from last September. Vegetables cost nearly 90 % more
than they did last year. Wake up to the economic contribution of slum dwellers.
They contribute more than 7.5 % to the country’s gross domestic product,
according to a recent study conducted in 50 top cities.
136000 estimated
number of jobs created during the second quarter of the current financial year.
50000 estimated number of additional jobs in the field of corporate social
responsibility in the coming years.
The International
Finance Corporation expects to come out with its rupee linked bonds issue
before the end of 2013 as a part of its plan to raise $ 1 billion. The Apple
iPhone 5c (Rs 41900 for 16 GB variant) and 5s (Rs 53500 for 16GB variant) has
been launched in India from 1st November.
The Land Acquisition
Act to provide just and fair compensation to farmers will come into force from
January 1 next year, said Rural Development Minister Jairam Ramesh. The Act
replaces a 119 year old registration. The Securities and Exchange Board of
India has approved the trading of currency futures on the Bombay Stock
Exchange. The exchange plans to launch the currency futures platform with
advanced trading technology by the end of November.
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. Kamal |
|
Designation : |
Accountant |
|
Contact No.: |
91-9879544589 |
|
Date : |
15.01.2014 |
LOCATIONS
|
Registered Office/Factory: |
432, GIDC Pandesara, Surat – 394221, Gujarat, India |
|
Tel. No.: |
91-261-2895638/2891981 |
|
Mobile No.: |
91-9879544589 (Mr. Kamal) |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Location : |
Owned |
DIRECTORS
As on 23.09.2013
|
Name : |
Mr. Vinodkumar Vishwanathprasad Tulsyan |
|
Designation : |
Managing Director |
|
Address : |
702, Ajanta Apartment, Ghod-Dod Road, Surat – 395007, Gujarat, India |
|
Date of Birth/Age : |
09.04.1962 |
|
Date of Appointment : |
15.12.1997 |
|
DIN No.: |
00207194 |
|
|
|
|
Name : |
Mr. Girdharprasad Harikishandas Saraf |
|
Designation : |
Whole Time Director |
|
Address : |
401, Ajanta Apartment, Ghod Dod Road,
Surat – 395007, Gujarat, India |
|
Date of Birth/Age : |
20.07.1951 |
|
Date of Appointment : |
30.09.1997 |
|
DIN No.: |
00111899 |
|
|
|
|
Name : |
Mr. Sunilkumar Shivkumar Mittal |
|
Designation : |
Director |
|
Address : |
101, Kailash Nagar Society, Ghod-Dod
Road, Surat – 395007, Gujarat, India |
|
Date of Birth/Age : |
29.07.1970 |
|
Date of Appointment : |
16.03.2003 |
|
DIN No.: |
00111913 |
|
|
|
|
Name : |
Mr. Raj Kishore Parmanand Shah |
|
Designation : |
Director |
|
Address : |
Green Avenue F -517, B/H. Union Park,
Ghod Dod Road, Surat – 395007, Gujarat, India |
|
Date of Birth/Age : |
25.11.1964 |
|
Date of Appointment : |
30.09.1997 |
|
DIN No.: |
00111944 |
|
|
|
|
Name : |
Mr. Kamalkumar Nathmal Agarmal |
|
Designation : |
Director |
|
Address : |
502, Ajanta Apartment, Ghod Dod Road,
Surat – 395007, Gujarat, India |
|
Date of Birth/Age : |
11.02.1959 |
|
Date of Appointment : |
16.09.2013 |
|
DIN No.: |
00325016 |
KEY EXECUTIVES
|
Name : |
Mr. Kamal |
|
Designation : |
Accountant |
MAJOR SHAREHOLDERS
As on 23.09.2013
SHAREHOLDING DETAILS FILE ATTACHED
Equity Share Break up (Percentage of Total Equity)
As on 23.09.2013
|
Category |
Percentage |
|
Bodies corporate |
4.94 |
|
Directors or relatives of Directors |
95.06 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Dyeing and printing of textile and manufacturer of textiles. |
|
|
|
|
Terms : |
|
|
Selling : |
Cash and Credit |
|
|
|
|
Purchasing : |
Cash, Credit and Depend |
GENERAL INFORMATION
|
Suppliers : |
Colour Textile Industries Limited
|
||||||||||||
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||||||||||||
|
Customers : |
End Users |
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No. of Employees : |
300 (Approximately) |
||||||||||||
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||||||||||||
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Bankers : |
Oriental Bank of Commerce, Jash Textile Market, Ring Road, Surat -
395002, Gujarat, India |
||||||||||||
|
|
|
||||||||||||
|
Facilities : |
CC = Rs.20.000 Millions
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
S. K. Kabra and Associates Chartered Accountants |
|
Address : |
1006, Rathi Palace, Kamela Darwaja, Ring Road, Surat – 395002,
Gujarat, India |
|
Tel. No.: |
91-261-2320131/3109696 |
|
E-Mail : |
|
|
PAN No.: |
AAJFS6674D |
CAPITAL STRUCTURE
As on 23.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1500000 |
Equity Shares |
Rs.10/- each |
Rs.15.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1256000 |
Equity Shares |
Rs.10/- each |
Rs.12.560 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 |
12.560 |
12.560 |
12.560 |
|
(b) Reserves & Surplus |
10.190 |
9.965 |
9.063 |
|
(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) |
22.750 |
22.525 |
21.623 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
0.475 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(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) |
0.000 |
0.000 |
0.475 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
41.001 |
35.003 |
23.682 |
|
(b) Trade payables |
0.000 |
0.000 |
0.000 |
|
(c) Other current
liabilities |
15.2330 |
15.802 |
12.366 |
|
(d) Short-term provisions |
0.493 |
2.731 |
2.265 |
|
Total Current Liabilities (4) |
56.727 |
53.536 |
38.313 |
|
|
|
|
|
|
TOTAL |
79.477 |
76.061 |
60.411 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
16.980 |
23.094 |
21.000 |
|
(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 |
0.007 |
0.007 |
0.007 |
|
(c) Deferred tax assets (net) |
12.855 |
11.070 |
9.870 |
|
(d) Long-term Loan and Advances |
0.755 |
0.630 |
0.495 |
|
(e) Other Non-current assets |
2.275 |
1.455 |
0.094 |
|
Total Non-Current Assets |
32.872 |
36.256 |
31.466 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
16.002 |
8.811 |
8.477 |
|
(c) Trade receivables |
25.218 |
28.633 |
18.763 |
|
(d) Cash and cash
equivalents |
0.685 |
0.444 |
0.207 |
|
(e) Short-term loans and
advances |
4.551 |
1.828 |
1.350 |
|
(f) Other current assets |
0.149 |
0.089 |
0.148 |
|
Total Current Assets |
46.605 |
39.805 |
28.945 |
|
|
|
|
|
|
TOTAL |
79.477 |
76.061 |
60.411 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Processing Income |
228.290 |
211.209 |
192.370 |
|
|
|
Other Income |
1.092 |
0.722 |
0.887 |
|
|
|
TOTAL |
229.382 |
211.931 |
193.257 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
225.744 |
207.156 |
188.773 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION |
3.638 |
4.775 |
4.484 |
|
|
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
3.214 |
3.460 |
3.248 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX |
0.424 |
1.315 |
1.236 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
0.199 |
0.414 |
0.482 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
AFTER TAX |
0.225 |
0.901 |
0.754 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
9.965 |
9.064 |
8.310 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
10.190 |
9.965 |
9.064 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
0.18 |
NA |
NA |
|
Expected Sales (2013-2014): Rs.240.000 Millions
Above information parted by Mr. Kamal (Accountant)
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
0.10 |
0.43 |
0.39 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
0.19 |
0.62 |
0.64 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.67 |
2.09 |
2.47 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.02 |
0.06 |
0.06 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
1.80 |
1.55 |
1.12 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.82 |
0.74 |
0.76 |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
Rs.
In Millions
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
Current maturities of long term debt |
0.000 |
0.475 |
NA |
|
Total |
0.000 |
0.475 |
NA |
|
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 |
Yes |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
No |
|
17] |
Major suppliers |
Yes |
|
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 |
No |
|
33] |
Voter ID No of Proprietor/Partner/Director,
if available |
No |
|
34] |
External Agency Rating,
if available |
No |
UNSECURED LOANS:
|
Particulars |
31.03.2013 Rs. In Millions |
31.03.2012 Rs. In Millions |
|
Short Term Borrowingss |
|
|
|
Loans from related parties |
18.035 |
18.571 |
|
Loans from other
parties |
2.925 |
3.564 |
|
Total |
20.960 |
22.135 |
YEAR
IN RETROSPECT AND FUTURE OUTLOOK:
During the year, the
company has recorded turnover of Rs.228.290 Millions as against Rs.211.209
Millions of previous year. The Company has earned net profit after tax of
Rs.0.225 Millions during the year. The high input prices coupled with
inflationary trend and competitive pressures have adversely affected the
margins of the Company inspite of increase in overall turnover.
The Management is
emphasizing on quality production, improving operating efficiencies and cost
control to negate the current challenges and bring out the Company with better
returns.
INDEX OF CHARGE:
|
Sr. No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10462117 |
22/11/2013 |
13,600,000.00 |
ORIENTAL BANK OF COMMERCE |
JASH TEXTILE MARKET, RING
ROAD, SURAT, Gujarat - 395002, INDIA |
B90302043 |
|
2 |
10135812 |
08/01/2009 |
3,100,000.00 |
ORIENTAL BANK OF COMMERCE |
JASH TEXTILE MARKET, RING
ROAD, SURAT, Gujarat - 395002, INDIA |
A53903159 |
|
3 |
90096896 |
29/11/2011 * |
17,500,000.00 |
ING VYSYA BANK LIMITED |
SHOP NO.1 TO 6, SURYA PLAZA,,
NEAR UDHNA DARWAJA, RING ROAD, SURAT, Gujarat - 395002, INDIA |
B29037694 |
|
4 |
80044965 |
25/11/2013 * |
34,202,000.00 |
ORIENTAL BANK OF COMMERCE |
JASH TEXTILE MARKET, RING
ROAD, SURAT, Gujarat - 395002, INDIA |
B90301417 |
|
5 |
80044967 |
09/03/2012 * |
20,000,000.00 |
ORIENTAL BANK OF COMMERCE |
JASH TEXTILE MARKET, RING
ROAD, SURAT, Gujarat - 395002, INDIA |
B35271204 |
*Date of modification Charges
FIXED ASSETS:
·
Land
·
Building
·
Electrical Installation
·
Plant and Machinery
·
Generators
·
Furniture and Fixtures
·
Office Equipment
·
Computer
·
Vehicles
·
Tempo
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.61.59 |
|
|
1 |
Rs.101.09 |
|
Euro |
1 |
Rs.83.99 |
INFORMATION DETAILS
|
Information
Gathered by : |
PDT |
|
|
|
|
Report Prepared
by : |
VNT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
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 |
|
29 |
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.