MIRA
INFORM REPORT
|
Report Date : |
10.07.2014 |
IDENTIFICATION DETAILS
|
Name : |
DREAM BAKE PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
296, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
12.11.1998 |
|
|
|
|
Com. Reg. No.: |
21-088239 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 267.307 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U15419WB1998PTC088239 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
CALD02128A |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCD1189R |
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|
|
Legal Form : |
Private Limited Liability Company |
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|
|
|
Line of Business
: |
Manufacture and sale of Cakes and Cookies. |
|
|
|
|
No. of Employees
: |
Information denied by management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (41) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 1200000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track. The company possesses an acceptable financial profile marked by low reserves
and modest gearing along with comfortable capitalisation marked by infusion
of funds from the promoters. Management has witnessed an improvement in its overall performance
characterized by decent profit margin during FY 14. Trade relations are seem to be fair. Business is active. Payment terms
are reported as slow but correct. In view of long standing presence, the subject can be considered for
business dealings at usual trade terms and conditions. |
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 – March 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
|
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
N E W S
The economy grew 4.7 %in 2013/14, marking a
second straight year of sub-5 % growth – the worst slowdown in more than a
quarter of a century. The data was below an official estimate of 4.9 % annual
growth and compared with 4.5 % in the last fiscal year. However, the current
account deficit narrowed sharply to $ 32.4 billion at 1.7 % of gross domestic
product, in 2013/14 from a record high of $ 98.8 billion or 4.7 %, the year
before.A sharp fall in gold imports due to restrictions on overseas purchases
and muted import of capital goods helped shrink the current account deficit.
Online retailer Flipkart has acquired fashion
portal Myntra as it prepares to battle with the rapidly expanding
General Motors will start exporting vehicles from
its Talegaon plant near Pune in the second half of 2014. GM was one of the few
global carmakers that was using its
Google has overtaken Apple as the world’s top
brand in terms of value, according to global market research agency Millward
Brown. Google’s brand value shot up 40 % in a year to $ 158.84 billion. The top
10 of the 100 slots were dominated by US companies.
Infosys lost another heavy weight when B G
Srinivas, a board member put in his papers. He is the third CEO-hopeful to quit
after Chairman N R Narayana Murthy’s return to the company – Ashok Vemuri and V
Balakrishnan being the other two.While Vemuri went on to lead IGate,
Balakrishnan joined politics.
Naresh Goyal – promoted Jet Airways posted
biggest quarterly loss – Rs 2153.37 crore – in the three months ended March 31,
mainly because it has been offering discounts to passengers to fill planes.
William S Pinckney – Chairman and CEO of
Amway
Pfizer has abandoned its attempt to buy
AstraZeneca for nearly $ 118 billion after the latter refused an offer of 55
pounds a share.
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 DENIED BY
|
Name : |
Mr. Taraknath Tiwari |
|
Designation : |
Office Executive |
|
Contact No.: |
91-33-24353670 |
|
Date : |
07.07.2014 |
LOCATIONS
|
Registered Office: |
296, |
|
Tel. No.: |
91-33-24353670/24355951 |
|
Fax No.: |
91-33-24353670/24353305 |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
|
|
|
|
Factory : |
Plot No. F1 and F2, |
DIRECTORS
AS ON 30.09.2013
|
Name : |
Mr. Pratima Basu |
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|
Designation : |
Director |
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|
Address : |
The Residency, Flat No. 702, City Centre, Salt Lake City, Kolkata –
700064, West Bengal, India |
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|
Date of Birth/Age : |
03.09.1954 |
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|
Date of Appointment : |
12.11.1998 |
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|
Pan No.: |
ACWPBB776A |
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DIN No.: |
00349843 |
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|
||||||||||||||||||||||||||||||||||||
|
Name : |
Mr. Partha Pratim Acharya |
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|
Designation : |
Director |
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|
Address : |
41, |
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|
Date of Birth/Age : |
18.04.1958 |
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|
Date of Appointment : |
14.12.2001 |
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DIN No.: |
00350304 |
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Other Directorship:
|
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|
||||||||||||||||||||||||||||||||||||
|
Name : |
Mr. Priyatosh Dey |
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|
Designation : |
Director |
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|
Address : |
16, Sakher Bazar, Lane, Bhadrakali – 712258, West |
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|
Date of Birth/Age : |
01.01.1935 |
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|
Date of Appointment : |
12.04.1999 |
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|
DIN No.: |
00324730 |
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KEY EXECUTIVES
|
Name : |
Mr. Taraknath Tiwari |
|
Designation : |
Office Executive |
MAJOR SHAREHOLDERS
AS ON 30.09.2013
|
Names of Shareholders |
No. of Shares |
% of Holding |
|
Arnab Basu |
208508 |
7.61 |
|
Pratima Basu |
841 |
0.03 |
|
International Foods Limited, |
759643 |
27.73 |
|
Lokesh Kumar |
520504 |
19.00 |
|
Switz Foods Private Limited |
1250000 |
45.63 |
|
Total |
2739496 |
100.00 |
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 |
46.73 |
|
Bodies corporate |
45.63 |
|
Directors or relatives of Directors |
7.64 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacture and sale of Cakes and Cookies. |
GENERAL INFORMATION
|
No. of Employees : |
Information denied by management |
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|
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Bankers : |
Axis Bank Limited, Credit Management Centre (CMC), 1, Shakespeare
Sarani, AC Market, 3rd Floor,, Kolkata-700071, West |
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Facilities : |
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|
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Banking
Relations : |
-- |
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|
|
|
Auditors : |
|
|
Name : |
Chatterjee and Company Chartered Accountants |
|
Address : |
153, |
|
PAN No.: |
AACFC2030N |
CAPITAL STRUCTURE
AS ON 30.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2800000 |
Equity Shares |
Rs.100/- each |
Rs.280.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2739496 |
Equity Shares |
Rs.100/- each |
Rs.273.950 Millions |
|
|
|
|
|
AS ON 30.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2800000 |
Equity Shares |
Rs.100/- each |
Rs.280.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2673068 |
Equity Shares |
Rs.100/- each |
Rs.267.307 Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2013 (12 Months) |
31.03.2012 (15 Months) |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
267.307 |
216.750 |
|
(b) Reserves & Surplus |
|
41.464 |
17.359 |
|
(c) Money
received against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
|
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
|
308.771 |
234.109 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
205.685 |
236.556 |
|
(b) Deferred tax liabilities (Net) |
|
2.225 |
(9.390) |
|
(c) Other long term liabilities |
|
2.290 |
2.312 |
|
(d) long-term provisions |
|
3.929 |
1.244 |
|
Total Non-current Liabilities (3) |
|
214.129 |
230.722 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
|
29.182 |
16.839 |
|
(b) Trade payables |
|
130.786 |
117.402 |
|
(c) Other current
liabilities |
|
129.045 |
115.944 |
|
(d) Short-term provisions |
|
7.966 |
4.183 |
|
Total Current Liabilities (4) |
|
296.979 |
254.368 |
|
|
|
|
|
|
TOTAL |
|
819.879 |
719.199 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
420.230 |
460.285 |
|
(ii) Intangible Assets |
|
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
|
0.000 |
0.000 |
|
(iv)
Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
32.959 |
32.959 |
|
(c) Deferred tax assets (net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
0.000 |
0.000 |
|
(e) Other Non-current assets |
|
13.005 |
19.328 |
|
Total Non-Current Assets |
|
466.194 |
512.572 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
0.000 |
0.000 |
|
(b) Inventories |
|
74.795 |
51.697 |
|
(c) Trade receivables |
|
86.356 |
63.338 |
|
(d) Cash and cash
equivalents |
|
70.886 |
22.294 |
|
(e) Short-term loans and
advances |
|
0.000 |
0.000 |
|
(f) Other current assets |
|
121.648 |
69.298 |
|
Total Current Assets |
|
353.685 |
206.627 |
|
|
|
|
|
|
TOTAL |
|
819.879 |
719.199 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
31.03.2013 (12 Months) |
31.03.2012 (15 Months) |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
1206.800 |
1010.200 |
|
|
|
Other Income |
|
NA |
NA |
|
|
|
TOTAL (A) |
|
NA |
NA |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL (B) |
|
NA |
NA |
|
|
|
|
|
|
|
|
Less |
PROFIT/(LOSS)
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
|
127.300 |
132.600 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
|
41.400 |
65.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D)
(E) |
|
85.900 |
67.600 |
|
|
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION (F) |
|
49.800 |
65.600 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS) BEFORE
TAX (E-F) (G) |
|
36.100 |
2.000 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
|
11.600 |
(15.800) |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
AFTER TAX (G-H) (I) |
|
24.500 |
17.800 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
|
9.17 |
NA |
|
KEY RATIOS
|
PARTICULARS |
|
|
31.03.2013 (12 Months) |
31.03.2012 (15 Months) |
|
Net Profit Margin (PBT/Sales) |
(%) |
|
2.99 |
0.20 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
|
4.59 |
0.29 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
|
0.12 |
0.01 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
|
0.76 |
1.08 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
|
1.19 |
0.81 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
|
31.03.2012 (15 Months) |
31.03.2013 (12 Months) |
|
|
|
Rs.
In Millions |
Rs.
In Millions |
|
Share Capital |
|
216.750 |
267.307 |
|
Reserves & Surplus |
|
17.359 |
41.464 |
|
Net
worth |
|
234.109 |
308.771 |
|
|
|
|
|
|
long-term borrowings |
|
236.556 |
205.685 |
|
Short term borrowings |
|
16.839 |
29.182 |
|
Total
borrowings |
|
253.395 |
234.867 |
|
Debt/Equity
ratio |
|
1.082 |
0.761 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
|
31.03.2012 (15 Months) |
31.03.2013 (12 Months) |
|
|
|
Rs.
In Millions |
Rs.
In Millions |
|
Sales |
|
1,010.200 |
1,206.800 |
|
|
|
|
19.461 |
NET PROFIT MARGIN
|
Net
Profit Margin |
|
31.03.2012 (15 Months) |
31.03.2013 (12 Months) |
|
|
|
Rs.
In Millions |
Rs.
In Millions |
|
Sales
|
|
1,010.200 |
1,206.800 |
|
Profit |
|
17.800 |
24.500 |
|
|
|
1.76% |
2.03% |
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 |
No |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact
person |
Yes |
|
11] |
Turnover of firm for last
two years |
Yes |
|
12] |
Profitability for last
two 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 |
---------- |
|
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 |
|
Long Term Borrowings |
|
|
|
Intercorporate
Borrowings |
4.824 |
0.000 |
|
Loans and
Advances from others |
122.531 |
113.986 |
|
|
|
|
|
Total |
127.355 |
113.986 |
INDEX OF CHARGE:
|
Sr. No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10427205 |
26/02/2014
* |
8,600,000.00 |
ITC
LIMITED |
|
C00812297 |
|
2 |
10189084 |
28/02/2014
* |
304,500,000.00 |
AXIS
BANK LIMITED |
CORPORATE
BANKING BRANCH (CBB),, 1, SHAKESPEARE SARANI, AC MARKET, 3RD FLOOR,, KOLKATA,
WEST BENGAL |
C01153568 |
|
3 |
10189082 |
28/02/2014
* |
304,500,000.00 |
AXIS
BANK LIMITED |
CORPORATE
BANKING BRANCH (CBB),, 1, SHAKESPEARE SARANI, AC MARKET, 3RD FLOOR,, KOLKATA,
WEST BENGAL |
C01155050 |
|
4 |
10073512 |
15/10/2007 |
206,000,000.00 |
AXIS
BANK LIMITED |
GOLPARK
BRANCH, 20, |
A25773045 |
|
5 |
10025881 |
28/10/2006 |
5,000,000.00 |
UTI
BANK LTD |
GARIA
BRANCH, 37, |
A06614176 |
|
6 |
10015909 |
15/10/2007
* |
13,500,000.00 |
AXIS
BANK LIMITED |
GARIA
BRANCH, 37, |
A25773409 |
|
7 |
10014855 |
26/02/2008
* |
219,500,000.00 |
AXIS
BANK LIMITED |
GOLPARK
BRANCH, 20, |
A34433516 |
*Date of modification Charges
FIXED ASSETS:
·
Land
·
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Furniture and Fixture
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 records 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.59.73 |
|
|
1 |
Rs.102.36 |
|
Euro |
1 |
Rs.81.38 |
INFORMATION DETAILS
|
Information
Gathered by : |
NYA |
|
|
|
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
NKT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
4 |
|
--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 |
|
41 |
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.