MIRA
INFORM REPORT
|
Report Date : |
15.07.2014 |
IDENTIFICATION DETAILS
|
Name : |
SELFRIDGES PRIVATE
LIMITED |
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Registered
Office : |
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Country : |
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Financials (as
on) : |
31.03.2013 |
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Date of
Incorporation : |
11.03.2004 |
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Com. Reg. No.: |
09-016942 |
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Capital
Investment / Paid-up Capital : |
Rs.19.990
millions |
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CIN No.: [Company Identification
No.] |
U52334KL2004PTC016942 |
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|
Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Trading of
a wide range of Home
Appliances. |
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No. of Employees
: |
Information declined by the Management. |
RATING & COMMENTS
|
MIRA’s Rating : |
B (27) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
|
Maximum Credit Limit : |
USD 139000 |
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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. The rating
reflects company’s moderate financial risk profile marked by low
profitability levels and stretched liquidity position of the company. However, trade
relations are fair. Business is active. Payment terms are 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.
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 |
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Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
|
Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
NEWS
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 DECLINED BY
|
Name : |
Ms. Lini |
|
Designation : |
Accounts Manager |
|
Contact No.: |
91-484-2377828 |
|
Date : |
14.07.2014 |
LOCATIONS
|
Registered Office : |
|
|
Tel. No.: |
91-484-2377828/ 2350576 |
|
Fax No.: |
Not Available |
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E-Mail : |
DIRECTORS
AS ON 30.09.2013
|
Name : |
Shenbagamurthi Giridharan |
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|
Designation : |
Managing Director |
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Address : |
XXX/1077A,
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Date of Birth/Age : |
22.09.1944 |
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Date of Appointment : |
11.03.2004 |
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DIN No.: |
00483616 |
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Other Directorship:
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Name : |
Thilagarajan Raghavan |
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Designation : |
Director |
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Address : |
2/597,
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Date of Birth/Age : |
18.10.1954 |
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Date of Appointment : |
11.03.2004 |
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DIN No.: |
00487932 |
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Other Directorship:
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KEY EXECUTIVES
|
Name : |
Ms. Lini |
|
Designation : |
Accounts Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2013
|
Names of Shareholders |
|
No. of Shares |
|
Shenbagamurthi Giridharan |
|
314500 |
|
Thilagarajan Raghavan |
|
195500 |
|
Giridharan Sujay |
|
112000 |
|
Giridharan Jayanth |
|
115500 |
|
G. Rajini |
|
46000 |
|
R. Kalanidhi |
|
46000 |
|
Ajith Raghavan |
|
115500 |
|
G. Abhimanue |
|
114500 |
|
C. Prema |
|
1500 |
|
D.
Shanmugam |
|
48500 |
|
S. Muarlidharan |
|
235000 |
|
D. Jagananthan |
|
24500 |
|
C. Dinesh |
|
94000 |
|
N. Chandrasekharan |
|
2500 |
|
G. Mahima
|
|
5500 |
|
Radhika Sujay |
|
45000 |
|
S. Gauthaman |
|
213000 |
|
Preethi Jayanth |
|
45000 |
|
G. Kanthimathi |
|
45000 |
|
A. Nandhitha |
|
45000 |
|
A. Mahalakshmi |
|
45000 |
|
M. Maheshwary |
|
45000 |
|
D. Sugantharaja |
|
5000 |
|
M. Vivin |
|
40000 |
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Total
|
|
1999000 |
AS ON 30.09.2013
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Directors
or relatives of directors |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Trading of
a wide range of Home
Appliances. |
|
|
|
|
Products : |
·
Television
·
Audio
·
Camera
·
·
Refrigerator,
etc. |
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Agencies Held : |
·
Philips
|
GENERAL INFORMATION
|
No. of Employees : |
Information declined by the Management. |
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Bankers : |
·
Dhanlaxmi Bank Limited, ·
City Bank N.A., Photo Fast House, Door No.38/1581, |
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Facilities : |
Notes: LONG TERM BORROWINGS * Disclosure of Dhanlaxmi Bank Limited
SHORT TERM BORROWINGS Disclosure of Dhanlaxmi Bank Limited
* Working Capital and Term Loans are secured by hypothecation of present and future stock and book debts of the company and change on immovable properties in the name of Mr. Giridharan S. |
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
V.K.S. Narayan and Company Chartered Accountants |
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Address : |
Thiruvambady, |
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Tel. No.: |
91-487-2334268/ 2323268 |
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E-Mail : |
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PAN No.: |
AABFV9274C |
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Associate Concerns in which Directors and their relatives are interested
with whom the Company had transactions : |
·
Fridge House Retail Private Limited ·
QRS Retail Private Limited |
CAPITAL STRUCTURE
AS ON 30.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
2000000 |
Equity Shares |
Rs.10/- each |
Rs.20.000 millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
1999000 |
Equity Shares |
Rs.10/- each
|
Rs.19.990
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 |
19.990 |
19.990 |
9.990 |
|
(b) Reserves & Surplus |
14.703 |
12.396 |
10.399 |
|
(c) Money received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
0.010 |
0.010 |
0.010 |
|
Total
Shareholders’ Funds (1) + (2) |
34.703 |
32.396 |
20.399 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) Long-term borrowings |
21.589 |
23.830 |
29.666 |
|
(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) |
21.589 |
23.830 |
29.666 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
100.156 |
75.665 |
70.280 |
|
(b)
Trade payables |
31.523 |
27.218 |
19.409 |
|
(c)
Other current liabilities |
0.892 |
7.940 |
16.123 |
|
(d) Short-term
provisions |
4.341 |
2.933 |
2.233 |
|
Total Current
Liabilities (4) |
136.912 |
113.756 |
108.045 |
|
|
|
|
|
|
TOTAL |
193.204 |
169.982 |
158.110 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i)
Tangible assets |
13.484 |
6.291 |
6.551 |
|
(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 |
2.000 |
2.000 |
0.000 |
|
(c) Deferred tax assets (net) |
0.491 |
0.064 |
0.000 |
|
(d) Long-term Loan and Advances |
3.794 |
0.000 |
0.000 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
19.769 |
8.355 |
6.551 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
28.858 |
26.732 |
23.794 |
|
(c)
Trade receivables |
128.636 |
107.644 |
108.155 |
|
(d) Cash
and cash equivalents |
1.648 |
1.116 |
2.477 |
|
(e)
Short-term loans and advances |
14.293 |
26.135 |
17.133 |
|
(f)
Other current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
173.435 |
161.627 |
151.559 |
|
|
|
|
|
|
TOTAL |
193.204 |
169.982 |
158.110 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from Operations |
557.117 |
567.149 |
542.230 |
|
|
|
Other Income |
41.231 |
57.323 |
44.563 |
|
|
|
Increase/ Decrease in Stock |
2.126 |
2.938 |
7.707 |
|
|
|
TOTAL (A) |
600.474 |
627.410 |
594.500 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
|
573.099 |
602.057 |
573.866 |
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL (B) |
573.099 |
602.057 |
573.866 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
27.375 |
25.353 |
20.634 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
21.428 |
19.291 |
16.542 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
5.947 |
6.062 |
4.092 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
1.805 |
1.195 |
0.993 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
4.142 |
4.867 |
3.099 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
1.834 |
2.870 |
1.033 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
2.308 |
1.997 |
2.067 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’
BALANCE BROUGHT FORWARD |
12.396 |
10.399 |
8.332 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
14.704 |
12.396 |
10.399 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
1.15 |
1.00 |
NA |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
0.38 |
0.32 |
0.35 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
0.74 |
0.86 |
0.57 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.17 |
2.90 |
1.96 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.12 |
0.15 |
0.15 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
3.51 |
3.07 |
4.90 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.27 |
1.42 |
1.40 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(INR in Mlns.) |
(INR in Mlns.) |
(INR in Mlns.) |
|
Share Capital |
9.990 |
19.990 |
19.990 |
|
Reserves & Surplus |
10.399 |
12.396 |
14.703 |
|
Share Application money pending allotment |
0.010 |
0.010 |
0.010 |
|
Net worth |
20.399 |
32.396 |
34.703 |
|
|
|
|
|
|
Long-term borrowings |
29.666 |
23.830 |
21.589 |
|
Short term borrowings |
70.280 |
75.665 |
100.156 |
|
Total borrowings |
99.946 |
99.495 |
121.745 |
|
Debt/Equity ratio |
4.900 |
3.071 |
3.508 |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(INR in Mlns) |
(INR in Mlns) |
(INR in Mlns) |
|
Revenue from Operations |
542.230 |
567.149 |
557.117 |
|
|
|
4.596 |
(1.769) |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(INR in Mlns) |
(INR in Mlns) |
(INR in Mlns) |
|
Revenue from Operations |
542.230 |
567.149 |
557.117 |
|
Profit |
2.067 |
1.997 |
2.308 |
|
|
0.38% |
0.35% |
0.41% |
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 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 |
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] |
PAN of Proprietor/Partner/Director, if available |
No |
|
32] |
Date
of Birth of Proprietor/Partner/Director, if available |
Yes |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
No |
INDEX OF CHARGES:
|
S. No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number
(SRN) |
|
1 |
10407631 |
18/02/2013 |
20,000,000.00 |
DHANLAXMI BANK LIMITED |
|
B69419984 |
|
2 |
10407690 |
18/02/2013 |
20,000,000.00 |
DHANLAXMI BANK LIMITED |
|
B69419380 |
|
3 |
10407633 |
18/02/2013 |
35,000,000.00 |
DHANLAXMI BANK LIMITED |
|
B69420404 |
|
4 |
10104345 |
18/02/2013 * |
150,000,000.00 |
DHANLAXMI BANK LIMITED |
|
B69442754 |
* Date of charge modification
|
Unsecured Loans |
31.03.2013 (Rs. in Millions) |
31.03.2012 (Rs. in Millions) |
|
LONG TERM BORROWINGS |
|
|
|
Deposits from
Shareholders |
8.174 |
0.000 |
|
Total |
8.174 |
0.000 |
FIXED ASSETS:
·
Furniture and Fittings
·
Camera
·
Computer
·
Vehicle
·
Cell Phones
·
Electrical Equipments
·
Civil Work
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.60.01 |
|
|
1 |
Rs.102.72 |
|
Euro |
1 |
Rs.81.60 |
INFORMATION DETAILS
|
Information
Gathered by : |
NYA |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
SMN |
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 |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
27 |
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.