MIRA INFORM REPORT
|
Report Date : |
28.06.2014 |
IDENTIFICATION DETAILS
|
Name : |
SPECTRAA TECHNOLOGY SOLUTIONS PRIVATE LIMITED |
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Registered
Office : |
No. 28, Leela Nivas, 4th Cross, Veerappa Reddy Layout, Munnekolala,
Marathalli, Bangalore – 560037, Karnataka |
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Country : |
India |
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Financials (as
on) : |
31.03.2013 |
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Date of
Incorporation : |
20.01.2009 |
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Com. Reg. No.: |
08-048905 |
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Capital
Investment / Paid-up Capital : |
Rs. 1.000 Million |
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CIN No.: [Company Identification
No.] |
U74999KA2009PTC048905 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
BLRS32472G |
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PAN No.: [Permanent Account No.] |
AAMCS7164G |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturing, Supplying and Erection of all kinds of Engineering and Technology Products including equipments, instruments for food, beverage, etc. and also design and implementation of all kinds of technical and engineering technology solutions. |
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No. of Employees
: |
Not Divulged |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (48) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 22000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having satisfactory track record. Financial position of the company seems to be decent. Trade relations are reported as fair. Business is active. Payment
terms are reported to be usually correct. The company can be considered normal 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) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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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 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 DECLINED
MANAGEMENT NON-COOPERATIVE
(CONTACT NO.: 91-80-30426204)
LOCATIONS
|
Registered Office : |
No. 28, Leela Nivas, 4th Cross, Veerappa Reddy Layout, Munnekolala,
Marathalli, Bangalore – 560037, Karnataka, India |
|
Tel. No.: |
91-80-30426204/ 42134238 |
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Fax No.: |
91-80-42134238 |
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E-Mail : |
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Website : |
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Corporate Office : |
No. B-37, 4th Cross, ITI Industrial Estate, Mahadevapura Post, Whitefield Road, Bangalore – 560048, Karnataka, India |
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E-Mail : |
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Factory : |
C-93, 6th Cross, Devasandra Industrial Estate, Mahadevapura Post, Whitefield Road, Bangalore – 560048, Karnataka, India |
DIRECTORS
AS ON 30.09.2013
|
Name : |
Mr. Dileep Krishnan Mukalel |
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Designation : |
Director |
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Address : |
Flat No. 9, Jai Shiv Shankar Housing Society, Alandi Road, Sapras Police
Chowky East, Kirkee, Pune – 411003, Maharashtra, India |
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Date of Birth/Age : |
31.05.1980 |
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Date of Appointment : |
20.01.2009 |
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PAN No.: |
AQAPM7469B |
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DIN No.: |
02467346 |
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Other Directorship :
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Name : |
Mrs. Nalini Sailaja |
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Designation : |
Director |
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Address : |
M 209, PSG CAS Hostel Peelamedu, Coimbatore – 641018, Tamilnadu, India |
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Date of Birth/Age : |
22.03.1982 |
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Date of Appointment : |
20.01.2009 |
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PAN No.: |
BNAPK5228A |
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DIN No.: |
02477968 |
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Other Directorship :
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MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2013
|
Names of Shareholders |
No. of Shares |
Percentage of Holding |
|
Dileep Krishnan Mukalel |
33333 |
33.33 |
|
Nalini Sailaja |
33334 |
33.33 |
|
Kayalvizhi Chandrasekaran |
33333 |
33.33 |
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Total |
100000 |
100.00 |
AS ON 30.09.2013
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
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Directors
or relatives of directors |
100.00 |
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Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing, Supplying and Erection of all kinds of Engineering and Technology Products including equipments, instruments for food, beverage, etc. and also design and implementation of all kinds of technical and engineering technology solutions. |
GENERAL INFORMATION
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No. of Employees : |
Not Divulged |
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Bankers : |
· State Bank of India SME Branch, ITI Ancillary Industrial Estate, Whitefield Road, Mahadevapura, Bangalore - 560048, Karnataka, India · ICICI Bank Limited · ING Vysya Bank Limited |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
L K Kejriwal and Company Chartered Accountants |
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Address : |
189/44, Shalimar Arcade, T-4, 3rd Floor, Wilson Garden,
10th Cross, Bangalore – 560027, Karnataka, India |
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Tel. No.: |
91-80-40916140 |
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E-Mail : |
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Income-tax
PAN of auditor or auditor's firm : |
AAAFL9733H |
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Enterprises over which KMP’s are able to exercise significant
influences : |
· Promech Technocrafts Private Limited · Jyothirmai Projects · Jyothirmai Industries |
CAPITAL STRUCTURE
AS ON 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
|
|
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|
100,000 |
Equity Shares |
Rs. 10/- each |
Rs. 1.000 Million |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
|
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|
100,000 |
Equity Shares |
Rs. 10/- each |
Rs. 1.000 Million |
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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 |
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|
(1)Shareholders'
Funds |
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|
|
|
(a) Share Capital |
1.000 |
1.000 |
1.000 |
|
(b) Reserves & Surplus |
4.416 |
2.671 |
1.910 |
|
(c) Money received against share warrants |
0.000 |
0.000 |
0.000 |
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|
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(2) Share
Application money pending allotment |
0.000 |
0.000 |
0.000 |
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Total
Shareholders’ Funds (1) + (2) |
5.416 |
3.671 |
2.910 |
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(3) Non-Current Liabilities |
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|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
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(b) Deferred tax liabilities (Net) |
0.052 |
0.084 |
0.108 |
|
(c)
Other long term liabilities |
0.049 |
0.115 |
0.172 |
|
(d)
long-term provisions |
0.000 |
0.000 |
0.000 |
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Total
Non-current Liabilities (3) |
0.101 |
0.199 |
0.280 |
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(4)
Current Liabilities |
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|
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(a)
Short term borrowings |
2.268 |
0.000 |
0.000 |
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(b)
Trade payables |
15.323 |
10.858 |
3.233 |
|
(c)
Other current liabilities |
6.744 |
1.687 |
0.326 |
|
(d)
Short-term provisions |
4.800 |
3.303 |
0.587 |
|
Total
Current Liabilities (4) |
29.135 |
15.848 |
4.146 |
|
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|
|
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TOTAL |
34.652 |
19.718 |
7.336 |
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II.
ASSETS |
|
|
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|
(1)
Non-current assets |
|
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(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
1.921 |
2.197 |
1.735 |
|
(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) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan
and Advances |
0.795 |
0.326 |
0.326 |
|
(e)
Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
2.716 |
2.523 |
2.061 |
|
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(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
1.830 |
0.497 |
0.462 |
|
(c)
Trade receivables |
20.759 |
9.244 |
4.184 |
|
(d)
Cash and cash equivalents |
1.893 |
3.266 |
0.565 |
|
(e)
Short-term loans and advances |
7.454 |
4.188 |
0.064 |
|
(f)
Other current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
31.936 |
17.195 |
5.275 |
|
|
|
|
|
|
TOTAL |
34.652 |
19.718 |
7.336 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
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|
|
|
|
58.640 |
53.050 |
|
|
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Other Income |
|
0.004 |
0.006 |
|
|
|
TOTAL (A) |
NA
|
58.644 |
53.056 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
|
|
38.631 |
34.579 |
|
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
|
(0.034) |
1.427 |
|
|
|
Employees benefits expense |
|
2.997 |
1.900 |
|
|
|
Other expenses |
|
11.904 |
12.546 |
|
|
|
TOTAL (B) |
NA |
53.498 |
50.452 |
|
|
|
|
|
|
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|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
(Including Financial Expenses) |
5.146 |
2.604 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
4.835 |
5.146 |
2.604 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
0.442 |
0.534 |
0.336 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
4.393 |
4.612 |
2.268 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
1.515 |
1.562 |
0.596 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
2.878 |
3.050 |
1.672 |
|
|
|
|
|
|
|
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|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
1.397 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
28.78 |
30.50 |
16.72 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
NA |
5.20 |
3.15 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
NA |
7.86 |
4.28 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
12.68 |
23.39 |
30.92 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.81 |
1.26 |
0.78 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.42 |
0.00 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.10 |
1.08 |
1.27 |
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 |
1.000 |
1.000 |
1.000 |
|
Reserves & Surplus |
1.910 |
2.671 |
4.416 |
|
Net
worth |
2.910 |
3.671 |
5.416 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
0.000 |
0.000 |
2.268 |
|
Total
borrowings |
0.000 |
0.000 |
2.268 |
|
Debt/Equity ratio |
0.000 |
0.000 |
0.419 |
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 |
No |
|
10] |
Designation of contact
person |
No |
|
11] |
Turnover of firm for last
two 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] |
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 |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
10394488 |
07/11/2012 |
7,500,000.00 |
STATE BANK OF INDIA |
SME BRANCH, ITI
ANCILLARY INDUSTRIAL ESTATE, WHITEFIELD ROAD, MAHADEVAPURA, BANGALORE,
KARNATAKA - |
B64998412 |
COMPANY
BACKGROUND:
Subject was incorporated on 20th Day of January 2009 as a
private company limited by shares. The Company has its registered office in Bangalore,
Karnataka, India. The main objects of the company is to carry on the business
of design and implementation of all kinds of technical and engineering
technology solutions including turn key projects on engineering in India or
elsewhere and to carry on the business of manufacturing, buying, selling,
export, import, maintenance, supply and erection or deal otherwise on all kinds
of engineering and technology products including equipments, instruments for
food, beverage, pharma and brewery industries in India or elsewhere.
CONTINGENT
LIABILITIES (AS ON 31.03.2013):
In respect of bank guarantees aggregating Rs. 1.528 Millions (as on
31.03.2013) Rs. 1.528 Millions issued by the SBI at the request of the Company
in favour of third parties, the Company has given security by was of fixed
deposit of Rs. 0.382 Million (25% of bank guarantee).
FIXED ASSETS:
· Site Equipments
· Furniture and Fixture
· Computer
· Office Equipment
· Land
· Vehicles
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. 60.10 |
|
|
1 |
Rs. 102.40 |
|
Euro |
1 |
Rs. 81.88 |
INFORMATION DETAILS
|
Information
Gathered by : |
HNA |
|
|
|
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
BVA |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
|
DEFAULTERS |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
48 |
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.