|
Report Date : |
30.01.2014 |
IDENTIFICATION DETAILS
|
Name : |
SOHAM INDUSTRIAL MACHINERY LIMITED (w.e.f.11.04.2012) |
|
|
|
|
Formerly Known
As: |
GOLDEN EYE POLY PACK LIMITED |
|
|
|
|
Registered
Office : |
Shop No. 11, 1st Floor, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
31.12.2008 |
|
|
|
|
Com. Reg. No.: |
04-055796 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.0.500 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U29248GJ2008PLC055796 |
|
|
|
|
Legal Form : |
A Closing Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacture and Exporter of Incase Stick Making Machine, Brick Making
Machines and AAC Block Making Plant. |
|
|
|
|
No. of Employees
: |
35 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (26) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 6000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Even though the company was incorporated during 31st Dec,
2008. It has started its commercial operation from April 2012 Mr. Kishore Kapadia, director that company has started it business activities
from April 2012. Further he also provided general information to us. Profitability of the company seems to be low. However, trade relation are improving. Business is active. Payment
terms are slow but correct. The company can be considering 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 – December 1, 2013
|
Country Name |
Previous Rating (30.09.2013) |
Current Rating (01.12.2013) |
|
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
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. Kishor Kapadia |
|
Designation : |
Director |
|
Contact No.: |
91-9825527848 |
|
Date : |
22.01.2014 |
LOCATIONS
|
Registered Office : |
Shop No. 11, 1st Floor, Mahavir Palace, Central Road No.6,
Udhana Udhyog Nagar, Surat – 394210, Gujarat. |
|
Tel. No.: |
91-261-6507848 |
|
Mobile No.: |
91-9825527848 (Mr. Kishor Kapadia) |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Factory 1 : |
Plot No. A/13/22, Opposite Calcutta Bearing, Central Road No. 7,
Udhna, Udyognagar, Surat – 3943210, Gujarat, India |
DIRECTORS
AS ON 30.09.2013
|
Name : |
Mr. Kishor Dhirajlal Kapadia |
|
Designation : |
Director |
|
Address : |
48, Panchavati Raw House, B/H Mahavir Society, Puna Cimada road.
Opposite. Varachha Chopati, Surat – 395010, Gujarat, India |
|
Date of Birth/Age : |
01.12.1977 |
|
Date of Appointment : |
12.04.2012 |
|
DIN No.: |
05230829 |
|
|
|
|
Name : |
Mr. Ghanshyambhai Jashbhai Patel |
|
Designation : |
Director |
|
Address : |
B-504, Akshar Plaza, Opposite Sarita Sankul, NR., Sardar Bridge,
Adajan, Surat – 395009, Gujarat, India |
|
Date of Birth/Age : |
01.06.1970 |
|
Date of Appointment : |
12.04.2012 |
|
DIN No.: |
05265097 |
|
|
|
|
Name : |
Mr. Dharmendra Kumar Kapdiya Dhirajlal |
|
Designation : |
Director |
|
Address : |
2/J.K. Nagar Society, Parvat Patiya, Khumbhariy Road, Surat – 395010,
Gujarat, India. |
|
Date of Birth/Age : |
03.01.1981 |
|
Date of Appointment : |
12.04.2012 |
|
DIN No.: |
05265110 |
KEY EXECUTIVES
|
Name : |
Mr. Jagpal Gajera |
|
Designation : |
Sales Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2013.
|
Names of Shareholders |
No. of Shares |
|
Sanjaykumar Jashbhai Patel |
4500 |
|
Jinal Sanjaykumar Patel |
4500 |
|
Devchandbhai Naranbhai Ranparia |
4500 |
|
Bhadresh Devchandbhai Ranparia |
4500 |
|
Ukabhai Z. Padmani |
4500 |
|
Navinbhai Vinayakbhai Patel |
4500 |
|
Ganshyambhai Jashbhai Patel. |
23000 |
|
Total |
50000 |
AS ON 30.09.2013
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Directors
or relatives of directors |
|
100.00 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
|
|
|
|
|
Products : |
|
|
|
|
|
Exports : |
|
|
Products : |
|
|
Countries : |
·
Srilanka ·
Australia ·
America ·
South Africa
·
Bangladesh |
|
|
|
|
Imports : |
|
|
Products : |
·
Raw Material |
|
Countries : |
·
China |
|
|
|
|
Terms : |
|
|
Selling : |
Cash and Credit |
|
|
|
|
Purchasing : |
Cash and Credit |
GENERAL INFORMATION
|
Customers: |
End Users |
|
|
|
|
No. of Employees : |
35 (Approximately) |
|
|
|
|
Bankers : |
·
ICICI Bank Udyog Nagar Branch, Surat – 394210,
Gujarat, India |
|
|
|
|
Banking
Relations : |
--- |
|
|
|
|
Auditors : |
|
|
Name : |
AGKR and Company (Chartered Accountants) |
|
Address : |
545, Kohinoor Textile Market, Kamela Darwaja, Ring Road, Surat-
395002, Gujarat, India. |
|
PAN No.: |
AAKFG7532K |
|
|
|
|
Sisters Concerns: |
·
Soham Tech Engineering ·
Panphi Machinery ·
Tirth Enterprises |
CAPITAL STRUCTURE
AS ON 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
100000 |
Equity Shares |
Rs.10/- Each |
Rs.1.000 Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
50000 |
Equity Shares |
Rs.10/- Each |
Rs.0.500 Million |
AS ON 30.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1000000 |
Equity Shares |
Rs.10/- Each |
Rs.10.000 Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
50000 |
Equity Shares |
Rs.10/- Each |
Rs.0.500 Million |
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 |
0.500 |
0.500 |
0.500 |
|
(b) Reserves & Surplus |
0.076 |
0.000 |
0.000 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
0.926 |
0.926 |
0.926 |
|
Total
Shareholders’ Funds (1) + (2) |
1.502 |
1.426 |
1.426 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.225 |
0.125 |
0.125 |
|
(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) |
0.225 |
0.125 |
0.125 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term
borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade payables |
31.426 |
0.013 |
0.010 |
|
(c) Other current
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) Short-term provisions |
0.009 |
0.000 |
0.000 |
|
Total Current Liabilities (4) |
31.435 |
0.013 |
0.010 |
|
|
|
|
|
|
TOTAL |
33.162 |
1.564 |
1.561 |
|
|
|
|
|
|
II. ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
0.188 |
0.000 |
0.000 |
|
(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 |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
0.002 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
3.048 |
0.000 |
0.000 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.426 |
|
Total Non-Current Assets |
3.238 |
0.000 |
0.426 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
5.961 |
0.000 |
0.000 |
|
(c) Trade receivables |
0.000 |
0.000 |
0.000 |
|
(d) Cash and cash
equivalents |
1.958 |
1.133 |
1.135 |
|
(e) Short-term loans
and advances |
0.210 |
0.000 |
0.000 |
|
(f) Other current
assets |
21.795 |
0.431 |
0.000 |
|
Total Current Assets |
29.924 |
1.564 |
1.135 |
|
|
|
|
|
|
TOTAL |
33.162 |
1.564 |
1.561 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from Operation |
12.118 |
0.000 |
0.000 |
|
|
|
Other Income |
0.000 |
0.000 |
0.000 |
|
|
|
TOTAL (A) |
12.118 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Purchase of Stock in Trade |
17.234 |
0.000 |
0.000 |
|
|
|
Work in Pro |
(5.961) |
0.000 |
0.000 |
|
|
|
Employee Benefit Expenses |
0.140 |
0.000 |
0.000 |
|
|
|
Other Expenses |
0.558 |
0.000 |
0.000 |
|
|
|
TOTAL (B) |
11.971 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
0.147 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
0.002 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
0.145 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
0.032 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
0.113 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
Less |
TAX (I) |
0.037 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-I) (J) |
0.076 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.10/- Each) |
|
|
|
|
|
|
Basic |
1.51 |
0.000 |
0.000 |
|
|
|
Diluted |
1.51 |
0.000 |
0.000 |
|
Expected Sales ( 2013-14) : Rs. 30.000 Million
The above information has been parted by Mr. Kishor Kapadia.
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
0.63
|
0.00 |
0.00 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
0.93
|
0.00 |
0.00 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.34
|
0.00 |
0.00 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.07
|
0.00 |
0.00 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.14
|
0.09 |
0.09 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.95
|
120.3 |
113.5 |
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 |
Yes |
|
15] |
Capital in
the business |
Yes |
|
16] |
Details of
sister concerns |
Yes |
|
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 |
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 LOAN:
|
Long Term
Borrowings |
31.03.2013 (Rs. in Millions) |
31.03.2012 (Rs. in Millions) |
|
Others Loans and
Liabilities |
|
|
|
From Other Parties |
0.225 |
0.125 |
|
Total |
0.225 |
0.125 |
REGISTERED OFFICE CHANGE:
Registered office of the company has been shifted 2112/13A, New Bombay Market,
Umarwada, Sahara Darwaja, Surat – 395006, Gujarat, India to the present address
w.e.f.01.08.2012
VIEW INDEX OF CHARGE:
No Charges Exist for Company
FIXED ASSETS:
·
Land
·
Factory Building
·
Plant & Equipment
·
Furniture & Fixtures
·
Vehicles
·
Office Equipment
·
Leasehold Improvement
·
Computers
·
Mobile Sets
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.61.92 |
|
|
1 |
Rs.101.97 |
|
Euro |
1 |
Rs.83.92 |
INFORMATION DETAILS
|
Report Prepared
by : |
ART |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTERS |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
26 |
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 |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.