MIRA INFORM REPORT
|
Report Date : |
24.01.2014 |
IDENTIFICATION DETAILS
|
Name : |
TECHNO TARP AND POLYMERS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
B-310, Everest Grande, Mahakali Caves Road, Opposite Ahura Centre,
Andheri (East), Mumbai – 400093, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
19.12.2005 |
|
|
|
|
Com. Reg. No.: |
11-158127 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 35.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U19202MH2005PTC158127 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMT12746G |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturers
and Exporters of Tarpaulins, Plastic Sheets, HDPE Laminated Fabrics, HDPE Coated
With LDPE, Printed Tarpaulins, etc. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (32) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 220000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
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|
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|
Litigation : |
Exist |
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Comments : |
Subject is an established company having moderate track record. The rating reflects modest scale of operations, below-average
financial risk profile marked by modest net worth and high gearing and
working-capital-intensive operations. 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.
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 |
CRISIL |
|
Rating |
Long term rating: “BB-“ |
|
Rating Explanation |
Moderate risk of default and high credit
risk. |
|
Date |
03.12.2012 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short term rating: “A4+“ |
|
Rating Explanation |
Minimal degree of safety and very high
credit risk. |
|
Date |
03.12.2012 |
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 DECLINED BY
Management
non-cooperative (Tel. No.:91-22-26873811)
LOCATIONS
|
Registered/ Head Office : |
B-310, Everest Grande, Mahakali Caves Road, Opposite Ahura Centre,
Andheri (East), Mumbai – 400093, Maharashtra, India |
|
Tel. No.: |
91-22-26873811-16 |
|
Fax No.: |
91-22-26873817 |
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E-Mail : |
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|
Website : |
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|
Area : |
1100 sq ft |
|
Location : |
Owned |
|
|
|
|
Factory : |
Plot No.4913/14/15/20/ 21, Plastic Zone, GIDC, Sarigam, Bhilad,
District Valsad – 396 155, Gujarat, India |
|
Tel. No.: |
91-260-2780444/ 2780777/ 2780888 |
|
Fax No.: |
91-260-2780333 |
|
E-Mail : |
DIRECTORS
As on: 30.09.2013
|
Name : |
Mr. Vijaykumar Ramprakash Ojha |
|
Designation : |
Director |
|
Address : |
16/6, Mathura Road, Faridabad – 121 001, Haryana, India |
|
Date of Birth/Age : |
02.03.1957 |
|
Date of Appointment : |
19.12.2005 |
|
DIN No.: |
00284285 |
|
|
|
|
Name : |
Mr. Ram Parkash Mulakh Ojha |
|
Designation : |
Director |
|
Address : |
146-A, Sector 16A, Faridabad – 121 001, Haryana, India |
|
Date of Birth/Age : |
21.02.1929 |
|
Date of Appointment : |
19.12.2005 |
|
DIN No.: |
00284330 |
|
|
|
|
Name : |
Mr. Romi Vadera |
|
Designation : |
Director |
|
Address : |
Flat No. 2501, ERA-II, Marathon Next, Extension Ganpat Rao, Kadam
Marg, Lower Parel, Mumbai – 400013, Maharashtra, India |
|
Date of Birth/Age : |
04.05.1957 |
|
Date of Appointment : |
28.03.2013 |
|
DIN No.: |
06538502 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 30.09.2013
|
Names of Shareholders |
|
No. of Shares |
|
Vijaykumar Ramprakash Ojha |
|
3260000 |
|
Ramprakash Ojha |
|
240000 |
|
|
|
|
|
Total |
|
3500000 |
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 : |
Manufacturers
and Exporters of Tarpaulins, Plastic Sheets, HDPE Laminated Fabrics, HDPE
Coated With LDPE, Printed Tarpaulins, etc. |
PRODUCTION STATUS (AS ON 31.03.2011)
|
Particulars |
Unit |
Licensed Capacity Tones |
Installed Capacity Tones |
Actual Production |
|
|
|
|
|
|
|
Tarapaulin |
M.T. |
NA |
3600 |
1982 |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
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Bankers : |
ING Vysya Bank Limited, Patel Chambers, Ground Floor, Sandhurst Bridge, Opera House, Mumbai - 400007, Maharashtra, India |
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Facilities : |
(Rs.
In Millions)
|
|
|
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Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
S. Ramanand Aiyar and Company Chartered Accountants |
|
Address : |
501/502, 5th Floor, Next to Crescent Plaza, Opposite Imperial
Hotel, Telli Gully, Mumbai – 400069, Maharashtra, India |
|
PAN No.: |
ABJFS9507L |
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|
|
|
Enterprises over which key management personal are able to excise
significant influence: |
·
Techno Relief Services (EPZ) Limited ·
Techno Relief Services Limited ·
Techno Relief Services Free Zone Company Limited ·
Techno Relief Services Limited (USA) ·
Techno Relief Emergency company Limited ·
Techno Relief Overseas (India) Private Limited ·
Techno Relief Suppliers Limited Liability Company
·
Nutrivita Foods Private Limited |
CAPITAL STRUCTURE
As on: 30.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3500000 |
Equity Shares |
Rs.10/- each |
Rs. 35.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
|
|
3500000 |
Equity Shares |
Rs.10/- each |
Rs. 35.000 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 |
35.000 |
16.000 |
16.000 |
|
(b) Reserves & Surplus |
20.279 |
18.869 |
10.863 |
|
(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) |
55.279 |
34.869 |
26.863 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term
borrowings |
44.062 |
45.631 |
27.293 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.546 |
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) |
44.062 |
46.177 |
27.293 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
45.727 |
55.421 |
41.268 |
|
(b)
Trade payables |
17.683 |
33.716 |
11.832 |
|
(c)
Other current liabilities |
26.349 |
30.191 |
14.643 |
|
(d) Short-term
provisions |
0.339 |
2.669 |
0.713 |
|
Total Current
Liabilities (4) |
90.098 |
121.997 |
68.456 |
|
|
|
|
|
|
TOTAL |
189.439 |
203.043 |
122.612 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
62.944 |
72.259 |
34.752 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
0.000 |
0.000 |
6.458 |
|
(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) |
0.518 |
0.000 |
1.113 |
|
(d) Long-term Loan and Advances |
0.000 |
0.000 |
0.000 |
|
(e) Other
Non-current assets |
4.455 |
3.238 |
2.106 |
|
Total Non-Current
Assets |
67.917 |
75.497 |
44.429 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
33.328 |
44.866 |
35.756 |
|
(c)
Trade receivables |
69.986 |
68.820 |
32.600 |
|
(d) Cash
and cash equivalents |
2.485 |
1.333 |
1.486 |
|
(e)
Short-term loans and advances |
13.371 |
11.504 |
6.267 |
|
(f)
Other current assets |
2.352 |
1.023 |
2.074 |
|
Total
Current Assets |
121.522 |
127.546 |
78.183 |
|
|
|
|
|
|
TOTAL |
189.439 |
203.043 |
122.612 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
|
|
260.854 |
235.919 |
|
|
|
Other Income |
|
2.364 |
3.999 |
|
|
|
TOTAL |
260.855 |
263.218 |
239.918 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
260.420 |
250.824 |
236.101 |
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
0.435 |
12.394 |
3.817 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
(0.975) |
4.389 |
0.190 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
1.410 |
8.005 |
3.627 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
18.869 |
10.864 |
7.237 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
20.279 |
18.869 |
10.864 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
229.075 |
230.745 |
204.070 |
|
|
TOTAL EARNINGS |
229.075 |
230.745 |
204.070 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Trading Goods |
24.410 |
57.790 |
86.190 |
|
|
TOTAL IMPORTS |
24.410 |
57.790 |
86.190 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
0.40 |
5.00 |
1.70 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
0.55 |
3.04 |
1.51 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
0.00 |
4.75 |
1.61 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.24 |
6.11 |
3.31 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.01 |
0.36 |
0.14 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
1.62 |
2.90 |
2.55 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.35 |
1.05 |
1.14 |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES
OF LONG-TERM DEBT DETAILS: NOT AVAILABLE
|
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 |
No |
|
9] |
Name of person contacted |
No |
|
10] |
Designation of contact person |
No |
|
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 |
Yes |
|
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 |
CASE DETAILS
|
Lodging No.:- |
ITXAL/1243/2013 |
Filing Date:- |
30/07/2013 |
Reg. No.: |
ITXA/2134/2013 |
Reg. Date: |
11/11/2013 |
|
Petitioner:- |
Commissioner of Income Tax – 8 |
Respondent:- |
TECHNO TARP AND POLYMERS PRIVATE LIMITED |
|
Petn.Adv.:- |
A.K. Saxena (0) |
Resp. Adv. |
S.C. Tiwari (0) |
|
District:- |
Mumbai |
|
|
|
Bench:- |
Divison |
|
|
|
Status:- |
Pre-Admission |
Category:- |
Tax Appeals |
|
Next Date: |
05/02/2014 |
Stage:- |
|
|
Coram: |
According to Sitting List |
|
|
|
Act: |
Income Tax Act, 1961 |
Under Section: |
260A |
UNSECURED LOAN
(Rs.
In Millions)
|
Particulars |
As on 31.03.2013 |
As on 31.03.2012 |
|
Long term
borrowings |
|
|
|
Loan from directors and shareholders |
35.163 |
31.619 |
|
|
|
|
|
Total |
35.163 |
31.619 |
NOTE:
The registered address of the company D-613, Floral Deck Plaza, MIDC,
Andheri, Mumbai – 400093, Maharashtra, India has been shifted to the present address
w.e.f. 18.03.2010
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10429142 |
04/05/2013 |
38,300,000.00 |
STATE BANK OF INDIA |
COMMERCIAL BRANCH VILE PARLE, SHYAM KAMAL, TRADE |
B76325968 |
|
2 |
10430267 |
04/05/2013 |
42,500,000.00 |
STATE BANK OF INDIA |
COMMERCIAL BRANCH VILE PARLE, SHYAM KAMAL, TRADE |
B76798636 |
|
3 |
10407107 |
04/05/2013 * |
97,800,000.00 |
STATE BANK OF INDIA |
COMMERCIAL BRANCH VILE PARLE, SHYAM KAMAL, TRADE |
B76324987 |
* Date of charge modification
FIXED ASSETS:
· Leasehold Land
· Office Premises
· Computers
· Furniture and Fixtures
· Office Equipments
· Plant and Machinery
· 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. 61.99 |
|
|
1 |
Rs. 102.67 |
|
Euro |
1 |
Rs. 83.98 |
INFORMATION DETAILS
|
Information
Gathered by : |
NYA |
|
|
|
|
Report Prepared
by : |
DPH |
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 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
3 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
YES |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
32 |
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.