MIRA INFORM REPORT
|
Report Date : |
08.03.2014 |
IDENTIFICATION DETAILS
|
Name : |
MARIM IMPEX (INDIA) PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
X-53, Loha Mandi, Naraina, New Delhi - 110028 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
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|
Date of
Incorporation : |
19.07.1988 |
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Com. Reg. No.: |
55-032497 |
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Capital
Investment / Paid-up Capital : |
Rs.4.000
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U51909DL1988PTC032497 |
|
|
|
|
IEC No.: |
0591015692 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
DELM03466B |
|
|
|
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PAN No.: [Permanent Account No.] |
AAACM2493G |
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|
|
|
Legal Form : |
Private Limited Liability Company |
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|
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|
Line of Business
: |
Trader and Importer of Iron and Steel. |
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|
|
|
No. of Employees
: |
10 (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 |
|
Maximum Credit Limit : |
USD 87000 |
|
|
|
|
Status : |
Moderate |
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|
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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. Profitability of the company appears to be low. External borrowings of
the company seems to be increasing during the financial year 2013. 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 – December 1, 2013
|
Country Name |
Previous Rating (30.09.2013) |
Current Rating (01.12.2013) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
The worst is over for India’s economy with gross domestic product likely
to expand 5 %to 5.5 % this year and more than 6 % in 2015, according to Moody’s
Analytics. Concerns over the rupee and current account deficit are under
control, said the agency. Ratings firm Crisil has forecast 6 % growth for
2014/15 up from the estimated 4.8 % for 2013/14. Total economic growth,
infrastructure bottlenecks and lack of transparency and consistency in foreign
direct investment policies seem to have taken a toll on India’s attractiveness
as an investment destination, says an Ernst & Young survey. Projects
with FDI component fell 16.4 % across the globe in 2012 from the previous
year. The drop in India was steeper at 21 %. State run carrier Air India
is doling out free tickets to its 24000 employees, even as it expects to incur
a loss of Rs 39000 mn this financial year and has a debt of Rs 350000 mn.
550000 number of jobs generated across India in 2013, a fall of 0.4 % as
compared to with a year earlier. The National Capital Region has a one-fourth
share in total jobs created, according to a study by industry lobby group
Assochem, Banks, real estate, automobile and telecommunications sectors are
showing a rise of job creation. $ 805 mn investments by venture capital firms
in India during 2013, registering a drop of about 18 % over the previous year.
The Information Technology and IT-Enabled Services Industry retained its
status as the favourable venture capital investors in 2013. Pakistan has
temporarily banned gold imports for the second time in six months, as it tries
to stem smuggling into India. India’s import duty on gold is 10 % and curbs on
purchases have dried up legal imports into what used to be the world’s biggest
bullion buyers. The World Gold Council puts the amount smuggled into India at
upto 200 tonnes in 2013. The Reserve Bank of India has proposed that unclaimed
bank deposits estimated to be about Rs 35000 mn be used for education and
awareness among depositors. According to the plan, deposits that have not
been claimed for at least 10 years will be transferred to the scheme.
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.
LOCATIONS
|
Registered Office : |
X-53, Loha Mandi, Naraina, New Delhi – 110028, India |
|
Tel. No.: |
Not Available |
|
Fax No.: |
Not Available |
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E-Mail : |
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Corporate Office : |
C – 194, Nariana Industrial Area, Phase – 1, New Delhi – 110028, India
|
|
Tel. No. : |
91-11-25798822/ 30528800 |
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Fax No.: |
91-11-25798418 |
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|
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Branch Office 1 : |
201, Magan Lal Chambers, Carnac Bunder, Baborao Bobde Marg, Mumbai –
400009, |
|
Tel. No.: |
91-22-23486411 |
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Fax No.: |
91-22-23486411 |
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|
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Branch Office 2 : |
BXV 198, G.T. Road, Millar Ganj, Ludhiana, Punjab, India. |
DIRECTORS
AS ON 28.09.2013
|
Name : |
Mr. Mohammed Shahid Qureshi |
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|
Designation : |
Managing Director |
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|
Address : |
G 74, Nizamuddin (West), New Delhi – 110013, India |
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Date of Birth/Age : |
21.06.1954 |
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Qualification : |
MSC |
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Date of Appointment : |
20.08.2007 |
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DIN No.: |
01120571 |
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Other Directorship :
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Name : |
Mr. Mohammed Danish Qureshi |
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|
Designation : |
Director |
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|
Address : |
G 74, Nizamuddin (West), New Delhi – 110013, India |
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Date of Birth/Age : |
21.04.1988 |
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Qualification : |
BA |
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Date of Appointment : |
01.04.2008 |
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DIN No.: |
01476610 |
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Other Directorship :
|
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KEY EXECUTIVES
|
Name : |
Mr. Mukul Bharadwaj |
|
Designation : |
Finance Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 28.09.2013
|
Names of Shareholders |
|
No. of Shares |
|
Mohammed Shahid Qureshi |
|
320993 |
|
Shaheen Qureshi |
|
48507 |
|
Mohammed Shakir |
|
1000 |
|
S.B. Mathur |
|
500 |
|
Shajahan B. Qureshi |
|
500 |
|
Aalia Qureshi |
|
500 |
|
Saima Qureshi |
|
500 |
|
Zafar Saleem Qureshi |
|
500 |
|
Ghous Mohammed |
|
500 |
|
Mohammed Danish Qureshi |
|
25000 |
|
Mohammed Shadab Qureshi |
|
500 |
AS ON 28.09.2013
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of
Holding |
|
Directors or relatives of Directors |
100.00 |
|
|
|
|
Total |
100.00 |
%20PRIVATE%20LIMITED%20-%20257579%2008-Mar-2014_files/image013.gif)
BUSINESS DETAILS
|
Line of Business : |
Trader and Importer of Iron and Steel. |
GENERAL INFORMATION
|
Suppliers : |
Tata Steel |
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Customers : |
Dealer and Distributors · Akash Steel |
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No. of Employees : |
10 (Approximately) |
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Bankers : |
· Union Bank of India, G – 237, Naraina Vihar, New Delhi – 110028, India · Kotak Mahindra Bank Limited, 36-38A, Nariman Bhavan, 227, D, Nariman Point, Mumbai – 400021, Maharashtra, India |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
Satish Aggarwal and Associates Chartered Accountants |
|
Address : |
4/ 5, 1st Floor, Asaf Ali Road, New Delhi – 110002, India |
|
PAN No.: |
ABCFS9747B |
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|
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|
Sister Concern : |
· Marim International Address: C – 194, Nariana
Industrial Area, Phase – 1, New Delhi – 110028, India |
CAPITAL STRUCTURE
AS ON 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1000000 |
Equity Shares |
Rs.10/- each |
Rs.10.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
400000 |
Equity Shares |
Rs.10/- each |
Rs.4.000
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 |
4.000 |
4.000 |
4.000 |
|
(b) Reserves & Surplus |
17.787 |
14.664 |
12.740 |
|
(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) |
21.787 |
18.664 |
16.740 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
9.551 |
51.449 |
67.191 |
|
(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) |
9.551 |
58.323 |
67.191 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short term
borrowings |
57.871 |
6.874 |
0.000 |
|
(b) Trade
payables |
33.014 |
20.658 |
0.281 |
|
(c) Other
current liabilities |
3.656 |
3.348 |
1.826 |
|
(d) Short-term
provisions |
1.482 |
0.961 |
0.983 |
|
Total Current
Liabilities (4) |
96.023 |
24.967 |
3.090 |
|
|
|
|
|
|
TOTAL |
127.361 |
101.954 |
87.021 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
12.292 |
12.613 |
11.238 |
|
(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) |
0.277 |
0.181 |
0.088 |
|
(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 |
12.569 |
12.794 |
11.326 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
77.009 |
57.594 |
36.661 |
|
(c) Trade
receivables |
6.130 |
9.293 |
15.554 |
|
(d) Cash
and cash equivalents |
6.771 |
1.303 |
7.342 |
|
(e) Short-term
loans and advances |
24.882 |
20.970 |
16.138 |
|
(f) Other
current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
114.792 |
89.160 |
75.695 |
|
|
|
|
|
|
TOTAL |
127.361 |
101.954 |
87.021 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Turnover |
568.214 |
416.245 |
336.885 |
|
|
|
Other Income |
NA |
NA |
0.826 |
|
|
|
TOTAL |
NA |
NA |
337.711 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
NA |
NA |
334.661 |
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
4.509 |
2.793 |
3.050 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
1.386 |
0.868 |
0.997 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
3.123 |
1.925 |
2.053 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
7.81 |
4.81 |
7.29 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
NA |
NA |
0.61 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
3.55
|
2.74 |
3.51 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.21
|
0.15 |
0.18 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
3.09
|
3.12 |
4.01 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.20
|
3.57 |
24.50 |
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 |
4.000 |
4.000 |
4.000 |
|
Reserves & Surplus |
12.740 |
14.664 |
17.787 |
|
Net
worth |
16.740 |
18.664 |
21.787 |
|
|
|
|
|
|
long-term borrowings |
67.191 |
51.449 |
9.551 |
|
Short term borrowings |
0.000 |
6.874 |
57.871 |
|
Total
borrowings |
67.191 |
58.323 |
67.422 |
|
Debt/Equity
ratio |
4.014 |
3.125 |
3.095 |
%20PRIVATE%20LIMITED%20-%20257579%2008-Mar-2014_files/image015.gif)
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
in Millions) |
(Rs.
in Millions) |
(Rs.
in Millions) |
|
Turnover |
336.885 |
416.245 |
568.214 |
|
|
|
23.557 |
36.510 |
%20PRIVATE%20LIMITED%20-%20257579%2008-Mar-2014_files/image017.gif)
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
in Millions) |
(Rs.
in Millions) |
(Rs.
in Millions) |
|
Turnover |
336.885 |
416.245 |
568.214 |
|
Profit |
2.053 |
1.925 |
3.123 |
|
|
0.61% |
0.46% |
0.55% |
%20PRIVATE%20LIMITED%20-%20257579%2008-Mar-2014_files/image019.gif)
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info
Agents |
Available in Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
Yes |
|
9] |
Name of person contacted |
No |
|
10] |
Designation of contact person |
No |
|
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 |
Yes |
|
18] |
Major customers |
Yes |
|
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 |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
10456076 |
10/09/2013 |
2,000,000.00 |
UNION BANK OF INDIA |
NARAINA BRANCH, G-237, NARAINA VIHAR, NEW DELHI - 110028, INDIA |
B87963922 |
|
2 |
10417728 |
10/04/2013 |
25,000,000.00 |
KOTAK MAHINDRA BANK LIMITED |
36-38A, NARIMAN BHAVAN, 227,D, NARIMAN POINT, MUMBAI - 400021, MAHARASHTRA, INDIA |
B72604861 |
|
3 |
80023729 |
05/02/2007 * |
25,000,000.00 |
UNION BANK OF INDIA |
G-237, NARAINA, NEW DELHI - 110028, INDIA |
- |
|
4 |
80023727 |
15/12/2011 * |
60,000,000.00 |
UNION BANK OF INDIA |
NARAINA BRANCH,
G-237, NARAINA VIHAR, NEW |
B31053028 |
* Date of charge modification
UNSECURED LOAN
|
Particulars |
31.03.2013 (Rs.
In Millions) |
31.03.2012 (Rs.
In Millions) |
|
LONG TERM
BORROWINGS |
|
|
|
Aalia Qureshi |
2.002 |
1.620 |
|
Saima Qureshi |
0.000 |
0.250 |
|
Mohammed Shakir |
0.000 |
0.630 |
|
Marim International Proprietor of Mohammed Shahid Qureshi |
6.523 |
45.223 |
|
Shaheen Qureshi |
0.000 |
2.800 |
|
Zafar Saleem Qureshi |
1.026 |
0.926 |
|
|
|
|
|
Total |
9.551 |
51.449 |
CHANGE OF ADDRESS:
The Registered office of the company has been shifted from 8C/2, Abdul
Aziz Marg, W E A Karol Bagh, New Delhi – 110005, India to the present address
w.e.f.01.10.2012.
FIXED ASSETS:
· Computer
· Cycle
· Furniture
· Office Equipments
· Photocopy Machine
· Scooter
· Typewriter
· Car
· Crane
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. 60.99 |
|
|
1 |
Rs. 102.07 |
|
Euro |
1 |
Rs. 84.53 |
INFORMATION DETAILS
|
Report Prepared
by : |
BVA |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--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 |
|
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.