|
Report Date : |
30.01.2014 |
IDENTIFICATION DETAILS
|
Name : |
AMCOR FLEXIBLES INDIA PRIVATE LIMITED (w.e.f. 03.01.2011) |
|
|
|
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Formerly Known
As : |
ALCAN INDIA PRIVATE LIMITED |
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Registered
Office : |
403 IVY Centre, 4 Prabhat Nagar, Jogeshwari (West), Mumbai – 400102, |
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Country : |
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Financials (as
on) : |
31.03.2013 |
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Date of
Incorporation : |
21.12.2006 |
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Com. Reg. No.: |
11-166397 |
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Capital
Investment / Paid-up Capital : |
Rs.999.231 millions |
|
|
|
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CIN No.: [Company Identification
No.] |
U27203MH2006FTC166397 |
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|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMA29188F |
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PAN No.: [Permanent Account No.] |
AAGCA0510J |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer, Exporter and Importer of Aluminium Foils. |
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No. of Employees
: |
400 (Approximately) |
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 5230000 |
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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 moderate track record. Reserves of the company seems to be low. However, the company has able to recover its accumulated losses and it
has achieved fair profitability during the financial year 2013. Trade relations are reported as fair. Business is active. Payments
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
The services sector, the largest contributor to India’s GDP, contracted
for the sixth consecutive month in December, as orders dipped. However, hiring
has risen. Direct tax collections rose 12.3 % during the April – December
period of the current financial year. The government has decided to
retain 100 per cent foreign direct investment in both greenfield (new) and brown
field (existing) pharmaceutical companies, despite concerns over genetic drugs
going out of production, if multi-national companies take over domestic ones.
In M&A deals, a non compete clause would not be allowed, except in special
circumstances. The Department of Industrial Policy and Promotion plans to
release the next edition of its consolidated foreign direct investment policy
document on March 31, incorporating changes made in the past year. DIPP
compiles all policies related to India’s FDI regime into a single document to
make it easy for investors to understand. 185 million estimated number of
mobile internet users in India by June 2014, according to a report by the
Internet & Mobile Association of India and IMRB International. India
had 110 million mobile internet users with 25 million in rural areas. $3.77 tn
estimated global IT spending in 2014, according to research firm Gartner Inc.
The growth forecast for this year is cut to 3.1 %from the earlier estimate of
3.5 %. The spending growth forecast for telecom services – a segment that
accounts for more than 40 % at total IT spending – from 1.9 per cent to 1.2 per
cent is the main reason for this overall IT cut. A Reserve Bank of India
committee has recommended setting up a special category of lenders who would
cater to small businesses and households, to expand the number of customers
with access to banking services. These banks would focus onproviding payment
services and deposit products. Indian banks want the free use of
automated teller machines to be capped at five transactions in a month
including that of the bank in which the account is active. This follows state
government order to banks to install security guards at ATM booths after a
woman banker was assaulted in Bangalore. The government is likely to present a
vote on Account in mid-February. The annual Economic Survey will be tabled
later in Parliament along with the full Budget. A full Budget for 2014/15 is
likely to be present in July by the new government formed after the General Election.
The government will soon launch an internet spy system, called Netra, to detect
malafide messages. Security agency will deploy the system to capture dubious
voice traffic on applications such as Skype and Google Talk, as well as
tweeters.
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. Mukesh |
|
Designation : |
Sales Manager |
|
Contact No.: |
91-9004391152 |
|
Date : |
29.01.2014 |
LOCATIONS
|
Registered Office / Sales Offce 1 : |
403 IVY Centre, 4 Prabhat Nagar, Jogeshwari (West), Mumbai – 400102,
Maharashtra, India |
|
Tel. No.: |
91-22-30045231 |
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Mobile No.: |
91-9004391152 (Mr. Mukesh) |
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Fax No.: |
91-22-30045232 |
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E-Mail : |
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Website : |
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|
Location : |
Owned |
|
|
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Sales Office 2 : |
6th Floor, Technopolis, Sector 54 DLF Golf Course Road,
Gurgaon 122002, Haryana, India |
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Tel. No.: |
91-124-4626331 |
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Fax No.: |
91-124-4626273 |
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Sales Office 3 : |
Also Located at : ·
Uttar Pradesh ·
Maharashtra |
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Factory 1 : |
Gat No 222 And 152A, Chakan-Talegaon Road, Mahalunge, Tal: Khed Dist,
Pune-410501, Maharashtra, India |
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Tel No.: |
91-2135-259598 |
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Fax No.: |
91-2135-259271 |
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Factory 2 : |
Plot No. F1, Sector-7, IIE, SIDCUL Haridwar – 249403, Uttarakhand,
India |
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Tel No.: |
91-1334-239830 |
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Fax No.: |
91-1334-239456 |
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Factory 3 : |
Gat No. 119-123, Alandi-Markal Roa Village Dhanore, Taluka – Khed,
Pune – 412105, Maharashtra, India |
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Tel No.: |
91-2135-232537 |
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|
|
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Branch Offices : |
Located At: ·
Bangalore ·
Hyderabad ·
Haridwar |
DIRECTORS
AS ON 30.09.2013
|
Name : |
Mr. Anant Madhav Gadre |
|
Designation : |
Director |
|
Address : |
Flat No. 102, Building 2b, Rajgiri, Siddhachal Complex, Off Pokharan
Road No. 2, Thane (West) – 400601, Maharashtra, India |
|
Date of Birth/Age : |
24.03.1965 |
|
Date of Appointment : |
07.02.2008 |
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PAN No.: |
ADJPG6740R |
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DIN No.: |
01963880 |
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|
|
|
Name : |
Mr. Sanjeev Kumar Dhiman |
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Designation : |
Director |
|
Address : |
19 Swaran Villa, Yogi Vihar Jwalapur,
Haridwar- 249407, Uttarakhand, India |
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Date of Birth/Age : |
05.08.1971 |
|
Date of Appointment : |
27.09.2011 |
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PAN No.: |
ABBPD3370L |
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DIN No.: |
02796730 |
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|
|
|
Name : |
Mr. Andrew John Terry |
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Designation : |
Director |
|
Address : |
No. 15, Lorong Selangat, Singapore, 358708 |
|
Date of Birth/Age : |
21.05.1969 |
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Date of Appointment : |
15.10.2010 |
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DIN No.: |
03474186 |
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|
|
|
Name : |
Mr. Ralf Klaus Wunderlich |
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Designation : |
Director |
|
Address : |
5 Woollerton Park, Woollerton Park,
Singapore 257513 |
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Date of Birth/Age : |
24.03.1966 |
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Date of Appointment : |
15.10.2010 |
|
DIN No.: |
03474198 |
KEY EXECUTIVES
|
Name : |
Mr. Mukesh |
|
Designation : |
Sales Manager |
MAJOR SHAREHOLDERS
AS ON 30.09.2013
|
Names of Shareholders |
|
No. of Shares |
|
Amcor Singapore Private Limited, Singapore |
|
99923059 |
|
Amcor Holdings (Australia) Pty Limited, Australia |
|
1 |
|
|
|
|
|
Total |
|
99923060 |
Equity Share Break up (Percentage of Total Equity)
AS ON 30.09.2013
|
Category |
Percentage |
|
Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s),
Non-resident Indian(s) or Overseas Corporate bodies or Others |
100.00 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer, Exporter and Importer of Aluminium Foils. |
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Products : |
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Exports : |
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Products : |
Finished goods |
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Countries : |
Germany |
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Imports : |
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Products : |
Raw Material |
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Countries : |
Germany |
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Terms : |
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Selling : |
Credit |
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Purchasing : |
Credit |
GENERAL INFORMATION
|
Customers : |
Wholesalers and Manufacturers ·
Ranbaxy Laboratories Limited ·
Cipla Limited |
|
|
|
|
No. of Employees : |
400 (Approximately) |
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|
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Bankers : |
Standard Chartered Bank, Goregaon (East) , Mumbai, Maharashtra, India Tel. No.: 91-22-66014444 |
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
Price Waterhouse Chartered Accountants |
|
Address : |
252, Veersawarkar
Marg, Shivaji Park, Dadar (West), Mumbai – 400028, Maharashtra, India |
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PAN.: |
AAEFP5579P |
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Holding company
: |
·
Amcor Singapore Pte. Limited, Singapore |
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|
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|
Ultimate Holding
company : |
·
Amcor Limited, Australia |
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|
|
|
Fellow
Subsidiary company : |
·
Amcor Europe Group Management ·
Amcor Flexible Montreuil Bellay, France ·
Amcor Flexibles ANZ, Australia ·
Amcor Flexibles Bangkok Company Limited, Thailand ·
Amcor Flexibles China Company Limited, China ·
Amcor France SAS, France ·
Amcor Jinangyin Propack Packing Company Limited,
China ·
Amcor Packaging- Kruzlingen, AG, Germany ·
Amcor Packaging- Singen GMBH, Germany ·
Amcor Rigid Plastics India Private Limited, India PAN No. :AADCS6330D CIN No.: U25207PN1995PTC108220 ·
Amcor Singapore Pte. Limited, Singapore |
CAPITAL STRUCTURE
AS ON 30.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
120000000 |
Equity Shares |
Rs. 10/- each |
Rs.1200.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
99923060 |
Equity Shares |
Rs. 10/- each |
Rs.999.231 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 |
999.231 |
877.504 |
877.504 |
|
(b) Reserves & Surplus |
309.372 |
(867.109) |
(822.641) |
|
(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) |
1308.603 |
10.395 |
54.863 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
133.333 |
200.000 |
58.333 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term liabilities |
150.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
6.132 |
4.673 |
2.590 |
|
Total Non-current Liabilities (3) |
289.465 |
204.673 |
60.923 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
141.571 |
444.107 |
385.141 |
|
(b) Trade payables |
315.968 |
214.095 |
220.283 |
|
(c) Other current
liabilities |
282.662 |
111.141 |
124.462 |
|
(d) Short-term provisions |
4.682 |
3.985 |
6.095 |
|
Total Current Liabilities (4) |
744.883 |
773.328 |
735.981 |
|
|
|
|
|
|
TOTAL |
2342.951 |
988.396 |
851.767 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
416.981 |
460.382 |
429.077 |
|
(ii) Intangible Assets |
5.659 |
10.759 |
2.268 |
|
(iii) Capital
work-in-progress |
1.384 |
0.735 |
0.072 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
668.619 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
26.457 |
23.932 |
23.164 |
|
(e) Other Non-current assets |
158.765 |
5.653 |
5.653 |
|
Total Non-Current Assets |
1277.865 |
501.461 |
460.234 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
239.787 |
211.172 |
138.320 |
|
(c) Trade receivables |
253.280 |
173.911 |
167.400 |
|
(d) Cash and cash
equivalents |
486.821 |
32.371 |
26.857 |
|
(e) Short-term loans and advances |
75.735 |
59.523 |
56.538 |
|
(f) Other current assets |
9.463 |
9.958 |
2.418 |
|
Total Current Assets |
1065.086 |
486.935 |
391.533 |
|
|
|
|
|
|
TOTAL |
2342.951 |
988.396 |
851.767 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Sales |
|
|
|
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL |
2013.519 |
1754.857 |
1240.141 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
1932.581 |
1799.325 |
1345.398 |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
80.938 |
(44.468) |
(105.257) |
|
|
|
|
|
|
|
|
|
Less |
TAX |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
80.938 |
(44.468) |
(105.257) |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
(867.307) |
(822.839) |
(717.582) |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
(786.369) |
(867.307) |
(822.839) |
|
|
|
|
|
|
|
|
|
|
Earnings/ (Loss)
Per Share (Rs.) |
0.81 |
(0.51) |
(1.38) |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
4.02
|
(2.53) |
(8.49) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
4.84
|
(4.50) |
(12.36) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.06
|
(4.28) |
(1.92) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.21
|
61.96 |
8.08 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.43
|
0.63 |
0.53 |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITY
OF LONG TERM DEBT:
|
SOURCES OF FUNDS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
Current Maturity of Long Term Debt |
66.667 |
58.333 |
100.000 |
|
|
|
|
|
|
Total |
66.667 |
58.333 |
100.000 |
|
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 |
Yes |
|
17] |
Major suppliers |
No |
|
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 |
No |
|
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 |
|
Long Term Borrowings |
|
|
|
Term Loans from
banks (Repayable in 3 equal yearly instalments
beginning June 20, 2013. This is repayable by June 20, 2015 and carry an
interest of 10.85% p.a.) |
133.333 |
200.000 |
|
|
|
|
|
Short Term Borrowings |
|
|
|
Loans repayable
on Demand |
141.571 |
429.107 |
|
|
|
|
|
Total |
274.904 |
629.107 |
NOTES:
·
No Charges Exist for Company
·
Registered address of the company The Executive Centre,
Level 2, Kalpataru Synergy, Opposite Grand Hyatt, Santacruz (East), Mumbai –
400055, Maharashtra, India has been shifted to the present address w.e.f.
28.01.2011
FIXED ASSETS
·
Land
·
Building
·
Plant and Equipment
·
Furniture and Fixtures
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 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.62.20 |
|
|
1 |
Rs.103.11 |
|
Euro |
1 |
Rs.84.96 |
INFORMATION DETAILS
|
Information
Gathered by : |
PLK |
|
|
|
|
Report Prepared
by : |
NKT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--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 |
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.