MIRA
INFORM REPORT
|
Report Date : |
15.07.2014 |
IDENTIFICATION DETAILS
|
Name : |
SONAL NON FERROUS METALS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Room No. 26, II Floor, Rungtha Bhavan, 94/ 100 Fanaswadi,
Mumbai-400002, |
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|
Country : |
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|
|
Financials (as
on) : |
31.03.2013 |
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|
|
|
Date of
Incorporation : |
13.05.1999 |
|
|
|
|
Com. Reg. No.: |
11-119854 |
|
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|
|
Capital
Investment / Paid-up Capital : |
Rs. 5.958 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U27209MH1999PTC119854 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMS36959G/ MUMS25378D |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Trader and Importer of Ferrous and Non Ferrous Metals. |
|
|
|
|
No. of Employees
: |
15 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (30) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
|
|
|
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 company possesses a moderate financial profile marked by and low
networth base huge working capital intensive nature of its operations along
with slight increase in receivable period as well as sharp deterioration in
its cash reserves during FY14. Management has reported a minimal net profitability as a result of
trading nature of operations during the year under review. However, trade relations seem to be fair. Business is active. Payment
terms are reported as slow but correct. In view of modest scale of business operations, the subject can be
considered for business dealings with 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
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 India arm of
the global e-commerce giant Amazon. The company raised $ 210 million from
Russian Investment firm DST Global which has also invested in companies like
Facebook, Twitter and Alibaba Group.
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 India plant only for the domestic
market.
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 India was arrested by the Andhra Pradesh Police in connection with a
complaint against the direct selling firm. This is the second time that he has
been taken into custody. A year, ago the Kerala Police had arrested Pinckney
and two company directors on charges of financial irregularities.
China has told its state-owned enterprises to
sever links with American consulting firms after the United States charged five
Chinese military officers wih hacking US companies. China’s action which
targets consultancies like McKinsey & Co. and the Boston Consulting Group,
sterns from fears that the first are providing trade secrets to the US governments.
India has emerged as a country with some of
the highest unregistered businesses in the world. Indonesia has the maximum
number of shadow businesses, says a study of 68 countries by Imperial College
Business School in London.
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 PARTED BY
|
Name : |
Mr. Charturvedi |
|
Designation : |
Accounts Executive |
|
Contact No.: |
91-22-40626464 |
|
Date : |
14.07.2014 |
LOCATIONS
|
Registered Office : |
Room No. 26, II Floor, Rungtha Bhavan, 94/ 100 Fanaswadi,
Mumbai-400002, Maharashtra, India |
|
Tel. No.: |
91-22-22063950 / 22007997 / 40626464 |
|
Fax No.: |
91-22-22052132 |
|
E-Mail : |
|
|
Area : |
325 Sq. Ft. |
|
Location : |
Rented |
|
|
|
|
Warehouse : |
Arihant Compound, Village Val, Bhiwandi, Thane, |
|
Area : |
2000 Sq. Ft |
|
Location : |
Owned |
DIRECTORS
As on: 28.09.2012
|
Name : |
Mr. Sandeep Ganeshlal Kachhara |
|
Designation : |
Director |
|
Address : |
A-903, |
|
Qualification : |
B.Com |
|
Date of Appointment : |
13.05.1999 |
|
Din No.: |
00442006 |
|
|
|
|
Name : |
Mr. Hitesh Hastimal Kachhara |
|
Designation : |
Director |
|
Address : |
A – 2102, Great LBS Marg, Kanjurmarg West, Mumbai – 400 078, |
|
Qualification : |
B Com. |
|
Date of Appointment : |
13.05.1999 |
|
PAN No.: |
AABPJ3716H |
|
Din No.: |
00996617 |
KEY EXECUTIVES
|
Name : |
Mr. Charturvedi |
|
Designation : |
Accounts Executive |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 28.09.2012
|
Names of Shareholders |
No. of Shares |
|
Sandeep G. Kachhara |
295400 |
|
Hitesh H. Kachhara |
300110 |
|
Ganesh Lal Kachhara |
10 |
|
Raghunath Narayan Ghanekar |
10 |
|
Ghanekar Construction Private Limited |
10 |
|
Ghanekar Builder Private Limited |
10 |
|
Sachin K Surya |
10 |
|
Purvi P Karia |
10 |
|
Raksha S Karia |
10 |
|
Mahendra Kawadia (HUF) |
10 |
|
Puspendra Kawadia |
10 |
|
Suman Bordia |
10 |
|
Sony |
10 |
|
Dinesh Gupta (HUF) |
10 |
|
Dinesh Gupta |
10 |
|
Usha Gupta |
10 |
|
Rajesh Kachhara |
10 |
|
Sushila Devi Kachhara |
10 |
|
Kishan Lal Surya |
10 |
|
Nitesh Jain |
10 |
|
Regent Diamonds |
10 |
|
Pavan Bhimraj Mehta |
10 |
|
Meena Devraj Mehta |
10 |
|
Champalal N Jain |
10 |
|
Nirmal Kumar Daga |
10 |
|
Anil Manoharlal Daga |
10 |
|
Mahavir
Enterprises Company (Proprietor Narendra C Jain) |
10 |
|
Trison Agencies (Proprietor Kamlesh M. Kanungo) |
10 |
|
Prem Surendra Kachhara |
10 |
|
Subhdil Gems |
10 |
|
Sunland Metal
Recycling Industries |
10 |
|
Diasque Exports |
10 |
|
Laxmi Trading
Company |
10 |
|
Trison Impex |
10 |
|
Total |
595830 |
Equity Share Break up (Percentage of Total Equity)
As on: 28.09.2012
|
Category |
|
Percentage |
|
|
|
|
|
Bodies corporate |
|
0.01 |
|
Directors or relatives of directors |
|
99.95 |
|
Other |
|
0.04 |
|
|
|
|
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Trader and Importer of Ferrous and Non Ferrous Metals. |
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Imports : |
|
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Products : |
Raw Material |
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Countries : |
·
UK ·
USA |
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Terms : |
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Selling : |
Cheque |
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Purchasing : |
Cheque |
GENERAL INFORMATION
|
No. of Employees : |
15 (Approximately) |
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Bankers : |
Canara Bank, Ground Floor, Ground Floor, Mittal Tower, "C" Wing, Nariman Point, Mumbai - 400021, Maharashtra, India |
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Facilities : |
(Rs.
In Millions)
|
|
|
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Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
B.G. Gokhru and Company Chartered Accountants |
|
Address : |
27, Rungta Bhawan, 94/ 100, Fanaswadi, Mumbai - 400002, Maharashtra,
India |
|
PAN No.: |
AAFPG3666F |
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|
|
|
Sister Concern : |
Name: Sunalco Alloys
Private Limited Address: Room No. 26, II
Floor, Rungtha Bhavan, 94/ 100 Fanaseadi, Mumbai-400002, Maharashtra, India |
CAPITAL STRUCTURE
As on: 28.09.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
750000 |
Equity Shares |
Rs.10/- each |
Rs. 7.500 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
595830 |
Equity Shares |
Rs.10/- each |
Rs. 5.958
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 |
5.958 |
5.958 |
5.958 |
|
(b) Reserves & Surplus |
19.181 |
15.657 |
12.452 |
|
(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) |
25.139 |
21.615 |
18.410 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term
borrowings |
0.000 |
0.000 |
0.000 |
|
(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 |
4.659 |
3.084 |
1.678 |
|
Total Non-current
Liabilities (3) |
4.659 |
3.084 |
1.678 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
121.321 |
93.702 |
67.639 |
|
(b)
Trade payables |
9.442 |
12.872 |
41.119 |
|
(c)
Other current liabilities |
8.884 |
9.260 |
8.817 |
|
(d) Short-term
provisions |
0.050 |
0.039 |
0.046 |
|
Total Current
Liabilities (4) |
139.697 |
115.873 |
117.621 |
|
|
|
|
|
|
TOTAL |
169.495 |
140.572 |
137.709 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
0.393 |
0.522 |
0.695 |
|
(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 |
0.104 |
5.354 |
5.205 |
|
(c) Deferred tax
assets (net) |
0.031 |
0.026 |
0.027 |
|
(d) Long-term Loan and Advances |
0.000 |
0.000 |
0.000 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
0.528 |
5.902 |
5.927 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
30.114 |
54.322 |
26.275 |
|
(c)
Trade receivables |
81.421 |
32.688 |
22.953 |
|
(d) Cash
and cash equivalents |
1.243 |
2.571 |
66.916 |
|
(e)
Short-term loans and advances |
56.189 |
45.089 |
15.638 |
|
(f)
Other current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
168.967 |
134.670 |
131.782 |
|
|
|
|
|
|
TOTAL |
169.495 |
140.572 |
137.709 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
NA |
NA |
NA |
|
|
|
Other Income |
NA |
NA |
NA |
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
5.222 |
4.784 |
5.576 |
|
|
|
|
|
|
|
|
|
|
DEPRECIATION/
AMORTISATION |
0.128 |
0.172 |
0.231 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
5.094 |
4.612 |
5.544 |
|
|
|
|
|
|
|
|
|
|
TAX |
1.575 |
1.406 |
1.656 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX |
3.519 |
3.206 |
3.888 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
5.91 |
5.39 |
NA |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
Return on Total Assets (PBT/Total Assets} |
(%) |
3.01 |
3.41 |
4.18 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.20 |
0.21 |
0.30 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
4.83 |
4.34 |
3.67 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.21 |
1.16 |
1.12 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs. In Millions) |
(Rs. In Millions) |
(Rs. In Millions) |
|
Share Capital |
5.958 |
5.958 |
5.958 |
|
Reserves & Surplus |
12.452 |
15.657 |
19.181 |
|
Net worth |
18.410 |
21.615 |
25.139 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
67.639 |
93.702 |
121.321 |
|
Total borrowings |
67.639 |
93.702 |
121.321 |
|
Debt/Equity ratio |
3.674 |
4.335 |
4.826 |
LOCAL AGENCY FURTHER INFORMATION
DETAILS OF CURRENT
MATURITIES OF LONG TERM DEBT:
|
Particulars |
31.03.2013 [Rs. in millions] |
31.03.2012 [Rs. in millions] |
31.03.2011 [Rs. in millions] |
|
|
|
|
|
|
Current maturities of long-term debt |
0.000 |
0.000 |
0.000 |
|
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 |
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 |
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 |
Yes |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
No |
UNSECURED LOAN
(Rs.
In Millions)
|
Particulars |
As on 31.03.2013 |
As on 31.03.2012 |
|
Short term
borrowings |
|
|
|
Term loan |
64.048 |
54.350 |
|
|
|
|
|
Total |
64.048 |
54.350 |
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10392298 |
25/10/2012 |
60,000,000.00 |
Standard Chartered Bank |
SME Credit, Crescenzo, 3A/F, Plot No. C-38 and 39, G Block, Bandra Kurla Complex, Bandra East, Mumbai, Maharashtra - 400051, INDIA |
B64262025 |
FIXED ASSETS:
- Computers
- Furniture and Fixture
- Mobile Phone
- Fax Machine
- Xerox Machine
- Motor Car
- Air Conditioner
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. 60.00 |
|
|
1 |
Rs. 102.71 |
|
Euro |
1 |
Rs. 81.60 |
INFORMATION DETAILS
|
Information
Gathered by : |
PLK |
|
|
|
|
Analysis Done by
: |
SUB |
|
|
|
|
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 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
4 |
|
--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 |
|
30 |
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.