MIRA INFORM REPORT
|
Report Date : |
10.03.2014 |
IDENTIFICATION DETAILS
|
Name : |
FRAMEWORKZ PROJECTS AND MANAGEMENT SERVICES PRIVATE LIMITED |
|
|
|
|
Registered Office
: |
First Floor, Hi-Tech Tyres, Orchid Avenue, 19 A.S. Marg, Opposite
Panchkutir Stop, Powai, Mumbai-400076, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
12.03.2012 |
|
|
|
|
Com. Reg. No.: |
11-227952 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.0.100 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74999MH2012PTC227952 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Interior Designer and Fit Out Work. |
|
|
|
|
No. of Employees
: |
17 [Approximately] |
RATING & COMMENTS
|
MIRA’s Rating : |
B (28) |
|
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 |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject was established on 03.01.2009 as a proprietary firm named
“Framework” and later on during March 2012 it got converted into private
limited company. It is having moderate track record. External borrowing of the company is huge. Company has achieved
minimal sales turnover from its first year of operation as private limited
company. Trade relations are fair. Business is active. Payment terms are slow
but correct. Subject can be considered for small to medium business dealing 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.
INFORMATION PARTED BY
|
Name : |
Mr. Ketan Shah |
|
Designation : |
Accounts Manager |
|
Contact No.: |
91-9819072048 |
|
Date : |
10.03.2014 |
LOCATIONS
|
Registered Office : |
First Floor, Hi-Tech Tyres, Orchid Avenue, 19 A.S. Marg, Opposite
Panchkutir Stop, Powai, Mumbai-400076, Maharashtra, India |
|
Tel. No.: |
91-22-25702574 |
|
Mobile No.: |
91-9819072048 [Mr. Ketan Shah] |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Location : |
Owned |
DIRECTORS
AS ON 30.09.2013
|
Name : |
Mr. Shaji Balan Nambiar |
|
Designation : |
Director |
|
Address : |
A/101, Blue Bell, Janakalyan Nagar, Malad (West), Mumbai-400095,
Maharashtra, India |
|
Date of Birth/Age : |
01.06.1977 |
|
Date of Appointment : |
12.03.2012 |
|
Din No.: |
05120398 |
|
Pan No.: |
ADKPN6229R |
|
|
|
|
Name : |
Ms. Neelima Sudhir Menon |
|
Designation : |
Director |
|
Address : |
A/12 Neelkanth Prasad CHS, Off Manpada Road, Dombivli (East), Thane-421201,
Maharashtra, India |
|
Date of Birth/Age : |
04.05.1983 |
|
Date of Appointment : |
12.03.2012 |
|
Din No.: |
05120391 |
KEY EXECUTIVES
|
Name : |
Mr. Ketan Shah |
|
Designation : |
Accounts Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2013
|
Names of Shareholders |
No. of Shares |
% of Holding |
|
Shaji Balan Nambiar |
7000 |
70.00 |
|
Neelima Sudhir Menon |
3000 |
30.00 |
|
|
|
|
|
TOTAL
|
10000 |
100.00 |
AS ON 30.09.2013
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Directors
or relatives of directors |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Interior Designer and Fit Out Work. |
|
|
|
|
Terms : |
|
|
Selling : |
LC and Cash |
|
|
|
|
Purchasing : |
Cash and Credit |
GENERAL INFORMATION
|
Customers : |
|
||||||||||
|
|
|
||||||||||
|
No. of Employees : |
17 [Approximately] |
||||||||||
|
|
|
||||||||||
|
Bankers : |
Kotak Mahindra Bank, Powai Branch, Mumbai, Maharashtra, India |
||||||||||
|
|
|
||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Mr. Chirag Varaiya Chartered Accountants |
|
Address : |
Office 9, J.D. Shopping Centre, J.D. Road, Mulund (West),
Mumbai-400080, Maharashtra, India |
|
Tel. No.: |
91-22-25613553 / 25683553 |
|
PAN No: |
AAYPV2482K |
CAPITAL STRUCTURE
AS ON 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000 |
Equity Shares |
Rs.10/- each |
Rs.0.100 Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000 |
Equity Shares |
Rs.10/- each |
Rs.0.100 Million |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
|
31.03.2013 |
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1) Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
|
0.100 |
|
(b) Reserves & Surplus |
|
|
0.668 |
|
(c) Money received against share warrants |
|
|
0.000 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
|
|
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
|
|
0.768 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
|
|
3.299 |
|
(b) Deferred tax liabilities (Net) |
|
|
0.000 |
|
(c)
Other long term liabilities |
|
|
0.000 |
|
(d)
Long-term provisions |
|
|
0.000 |
|
Total
Non-current Liabilities (3) |
|
|
3.299 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
|
|
0.017 |
|
(b)
Trade payables |
|
|
1.957 |
|
(c)
Other current liabilities |
|
|
2.243 |
|
(d)
Short-term provisions |
|
|
0.442 |
|
Total
Current Liabilities (4) |
|
|
4.659 |
|
|
|
|
|
|
TOTAL |
|
|
8.726 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i)
Tangible assets |
|
|
2.217 |
|
(ii)
Intangible Assets |
|
|
0.000 |
|
(iii)
Capital work-in-progress |
|
|
0.000 |
|
(iv) Intangible assets under development |
|
|
0.000 |
|
(b) Non-current
Investments |
|
|
0.000 |
|
(c) Deferred tax assets
(net) |
|
|
0.275 |
|
(d) Long-term Loan
and Advances |
|
|
1.070 |
|
(e)
Other Non-current assets |
|
|
0.000 |
|
Total
Non-Current Assets |
|
|
3.562 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
|
|
0.000 |
|
(b)
Inventories |
|
|
2.361 |
|
(c)
Trade receivables |
|
|
1.624 |
|
(d)
Cash and cash equivalents |
|
|
0.264 |
|
(e)
Short-term loans and advances |
|
|
0.915 |
|
(f)
Other current assets |
|
|
0.000 |
|
Total
Current Assets |
|
|
5.164 |
|
|
|
|
|
|
TOTAL |
|
|
8.726 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
|
31.03.2013 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
|
|
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL |
|
|
18.186 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
|
|
17.219 |
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX |
|
|
0.967 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
|
|
0.299 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX |
|
|
0.668 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
|
|
0.000 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
|
|
0.668 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
|
|
66.80 |
|
KEY RATIOS
|
PARTICULARS |
|
|
|
31.03.2013 |
|
PAT / Total Income |
(%) |
|
|
3.67 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
|
|
11.44 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
|
|
1.25 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
|
|
4.32 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
|
|
1.11 |
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 |
Yes |
|
10] |
Designation of contact person |
Yes |
|
11] |
Turnover of firm for one year |
Yes |
|
12] |
Profitability for one year |
Yes |
|
13] |
Reasons for variation <> 20% |
-- |
|
14] |
Estimation for coming financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister concerns |
No |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
Yes |
|
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 |
Yes |
|
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: NO CHARGES EXIST FOR COMPANY.
NOTE:
The registered office of the company has been shifted from
19, First Floor, AS Marg, Orchid Avenue, Powai, Mumbai-400076, Maharashtra,
India to the present address w.e.f. 15.10.2013.
|
Unsecured Loan |
As
on 31.03.2013 [Rs.
in Millions] |
|
Long Term Borrowings
|
|
|
Frameworkz |
2.328 |
|
|
|
|
Short Term
Borrowings |
|
|
Loan From Related Parties Neelima Menon |
0.017 |
|
TOTAL
|
2.345 |
FIXED ASSETS:
- Plant and
Machinery
- Air
conditioner
- Telecom
System
- Mobile
- Television
- Tools and
Equipments
- Furniture
- Motor Car
- Motor Bike
- Computer
------------------------------------------------------------------------------------------------------------------------------
MS. NEELIMA SUDHIR MENON
NETWORTH STATEMENT
(RS IN MILLIONS)
|
PARTICULAR |
VALUATION (BASED
ON MARKET VALUE METHOD) |
|
ASSETS AND RECEIVABLES |
|
|
30% Stake in Frameworkz Projects and
Management Private Limited |
0.230 |
|
Gold and Gold Ornaments * [Valued at approximately market value of gold,
based on information provided by Ms. Neelima Menon] |
1.050 |
|
Household Equipments |
0.177 |
|
Loans and Advances |
0.017 |
|
Cash and Bank Balances |
0.021 |
|
NETWORTH |
1.495 |
------------------------------------------------------------------------------------------------------------------------------
MR. SHAJI BALAN NAMBIAR
NETWORTH STATEMENT
(RS IN MILLIONS)
|
PARTICULAR |
VALUATION (BASED
ON MARKET VALUE METHOD) |
|
ASSETS AND RECEIVABLES |
|
|
70% Stake in Frameworkz Projects and
Management Private Limited |
0.538 |
|
Jewellery * [Valued at approximately market value of
gold, based on information provided by Mr. Shaji Balan Nambiar] |
1.297 |
|
Loans and Advances |
2.558 |
|
Cash and Bank Balances |
0.123 |
|
Security Deposit |
0.300 |
|
NETWORTH |
4.816 |
PROVISIONAL BALANCE SHEET
(RS IN MILLIONS)
|
SOURCES OF FUNDS |
|
|
31.12.2013 |
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1) Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
|
0.100 |
|
(b) Reserves & Surplus |
|
|
2.328 |
|
(c) Money received against share warrants |
|
|
0.000 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
|
|
0.900 |
|
Total Shareholders’
Funds (1) + (2) |
|
|
3.328 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
|
|
3.734 |
|
(b) Deferred tax liabilities (Net) |
|
|
0.000 |
|
(c)
Other long term liabilities |
|
|
0.000 |
|
(d)
Long-term provisions |
|
|
0.000 |
|
Total
Non-current Liabilities (3) |
|
|
3.734 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
|
|
0.000 |
|
(b)
Trade payables |
|
|
4.746 |
|
(c)
Other current liabilities |
|
|
3.965 |
|
(d)
Short-term provisions |
|
|
0.804 |
|
Total
Current Liabilities (4) |
|
|
9.515 |
|
|
|
|
|
|
TOTAL |
|
|
16.577 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i)
Tangible assets |
|
|
3.112 |
|
(ii)
Intangible Assets |
|
|
0.000 |
|
(iii)
Capital work-in-progress |
|
|
0.000 |
|
(iv) Intangible assets under development |
|
|
0.000 |
|
(b) Non-current
Investments |
|
|
0.000 |
|
(c) Deferred tax assets
(net) |
|
|
0.275 |
|
(d) Long-term Loan
and Advances |
|
|
1.077 |
|
(e)
Other Non-current assets |
|
|
0.000 |
|
Total
Non-Current Assets |
|
|
4.464 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
|
|
0.000 |
|
(b)
Inventories |
|
|
7.090 |
|
(c)
Trade receivables |
|
|
3.786 |
|
(d)
Cash and cash equivalents |
|
|
0.159 |
|
(e)
Short-term loans and advances |
|
|
1.078 |
|
(f)
Other current assets |
|
|
0.000 |
|
Total
Current Assets |
|
|
12.113 |
|
|
|
|
|
|
TOTAL |
|
|
16.577 |
PROVISIONAL PROFIT & LOSS ACCOUNT
(RS IN MILLIONS)
|
|
PARTICULARS |
|
|
31.12.2013 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
|
35.454 |
|
|
|
Other Income |
|
|
0.073 |
|
|
|
TOTAL (A) |
|
|
35.527 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Purchases of Stock in Trade |
|
|
17.674 |
|
|
|
Employee Benefit expenses |
|
|
7.660 |
|
|
|
Other Administrative and Selling Expenses |
|
|
11.885 |
|
|
|
Changes in Inventories |
|
|
(4.730) |
|
|
|
TOTAL (B) |
|
|
32.489 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
|
|
3.038 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
|
|
0.097 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
|
|
2.941 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
|
|
0.538 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
|
|
2.403 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
|
|
0.743 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
|
|
1.660 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
|
|
166.02 |
|
KEY RATIOS
|
PARTICULARS |
|
|
|
31.12.2013 |
|
PAT / Total Income |
(%) |
|
|
4.67 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
|
|
6.77 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
|
|
14.74 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
|
|
0.72 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
|
|
1.12 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
|
|
1.27 |
------------------------------------------------------------------------------------------------------------------------------
MS. NEELIMA SUDHIR MENON
CAPITAL ACCOUNT
(RS IN MILLIONS)
|
DEBIT |
AMOUNT |
CREDIT |
AMOUNT |
|
|
|
|
|
|
Drawings |
0.087 |
Opening Balance |
0.728 |
|
LIC Premium |
0.009 |
Salary From Frameworkz Private Limited |
0.270 |
|
Depreciation of Fixed Assets |
0.031 |
|
|
|
Balance C/F |
0.871 |
|
|
|
TOTAL
|
0.998 |
TOTAL
|
0.998 |
MS. NEELIMA SUDHIR MENON
BALANCE SHEET AS ON 31.03.2013
(RS IN MILLIONS)
|
LIABILITIES |
AMOUNT |
ASSETS |
AMOUNT |
|
|
|
|
|
|
Neelima Sudhir Menon |
0.871 |
Fixed Assets |
|
|
|
|
Household Equipments |
0.177 |
|
|
|
Investments |
|
|
|
|
Shares in Frameworkz PMS Private Limited |
0.030 |
|
|
|
Gold and Gold Ornaments |
0.626 |
|
|
|
Current Assets |
|
|
|
|
Loan to Frameworkz PMS Private Limited |
0.017 |
|
|
|
Bank |
0.004 |
|
|
|
Cash in Hand |
0.017 |
|
TOTAL
|
0.871 |
TOTAL
|
0.871 |
------------------------------------------------------------------------------------------------------------------------------
FRAMEWORKZ
(PROPRIETOR SHAJI NAMBIAR)
BALANCE SHEET
(RS IN MILLIONS)
|
SOURCES OF FUNDS |
|
31.03.2013 |
31.03.2012 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Proprietor Capital |
|
2.044 |
0.477 |
|
|
2] Share Application Money |
|
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
|
0.000 |
0.000 |
|
|
4] (Accumulated Losses) |
|
0.000 |
0.000 |
|
|
NETWORTH |
|
2.044 |
0.477 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
0.000 |
0.563 |
|
|
2] Unsecured Loans |
|
1.800 |
0.000 |
|
|
TOTAL BORROWING |
|
1.800 |
0.563 |
|
|
DEFERRED TAX LIABILITIES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
3.844 |
1.040 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
0.000 |
0.526 |
|
|
Capital work-in-progress |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
0.315 |
0.086 |
|
|
DEFERRED TAX ASSETS |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
0.000 |
2.112 |
|
|
Sundry Debtors |
|
0.000 |
2.174 |
|
|
Cash & Bank Balances |
|
0.123 |
0.160 |
|
|
Other Current Assets |
|
0.555 |
0.562 |
|
|
Loans & Advances |
|
3.359 |
0.042 |
|
Total
Current Assets |
|
4.037 |
5.050 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
0.204 |
4.069 |
|
|
Other Current Liabilities |
|
0.276 |
0.000 |
|
|
Provisions |
|
0.028 |
0.553 |
|
Total
Current Liabilities |
|
0.508 |
4.622 |
|
|
Net Current Assets |
|
3.529 |
0.428 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
3.844 |
1.040 |
|
PROFIT & LOSS ACCOUNT
|
|
PARTICULARS |
|
|
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
|
20.523 |
|
|
|
Other Income |
|
|
0.441 |
|
|
|
TOTAL (A) |
|
|
20.964 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Purchases |
|
|
12.328 |
|
|
|
Direct expenses |
|
|
5.518 |
|
|
|
Administration Expenses |
|
|
1.205 |
|
|
|
Staff Benefits Expenses |
|
|
2.381 |
|
|
|
Selling and Discounting Expenses |
|
|
0.442 |
|
|
|
Increase in Stock |
|
|
(1.371) |
|
|
|
TOTAL (B) |
|
|
20.503 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
|
|
0.461 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
|
|
0.038 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
|
|
0.423 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
|
|
0.149 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
|
|
0.274 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
|
|
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
|
|
0.274 |
|
KEY RATIOS
|
PARTICULARS |
|
|
31.03.2013 |
31.03.2012 |
|
PAT / Total Income |
(%) |
|
NA |
1.31 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
|
NA |
1.34 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
|
NA |
4.91 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
|
NA |
0.57 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
|
0.88 |
1.18 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
|
7.95 |
1.09 |
------------------------------------------------------------------------------------------------------------------------------
COMPUTATION OF TOTAL INCOME
(RS IN MILLIONS)
|
INCOME FROM BUSINESS OR PROFESSION |
31.03.2013 |
|||
|
|
|
|
|
|
|
Net Profit as per Profit and Loss A/C |
|
0.967 |
|
|
|
Add: Disallowable / Addition: |
|
|
|
|
|
Depreciation |
0.177 |
|
|
|
|
Service Tax Disallowed u/s 43B |
0.968 |
|
|
|
|
|
|
1.145 |
2.112 |
|
|
|
|
|
|
|
|
Less: Business Deductions: |
|
|
|
|
|
Current Depreciation u/s 32 (1) [as per
working] |
|
0.255 |
0.255 |
|
|
NET BUSINESS INCOME |
|
|
|
1.857 |
|
|
|
|
|
|
|
GROSS TOTAL INCOME |
|
|
|
1.857 |
|
|
|
|
|
|
|
TOTAL INCOME |
|
|
|
1.857 |
|
ROUNDED OFF U/S 288 A |
|
|
|
1.857 |
COMPUTATION OF TAX PAYABLE
(RS IN MILLIONS)
|
Gross Tax on |
1.857 |
|
|
|
|
Add: Surcharge |
0.000 |
|
|
|
|
|
|
|
|
0.557 |
|
Edu. Cess and Higher Edu. Cess |
|
|
|
0.017 |
|
|
|
|
|
0.574 |
|
|
|
|
|
|
|
TAX CALCULATION ACCORDING TO SECTION 115 JB OF INCOME TAX ACT (MAT) |
|
|
|
NET PROFIT AS PER BOOK OF A/C |
|
0.668 |
|
Add: |
|
|
|
Income tax paid or payable |
|
0.299 |
|
BOOK PROFIT |
|
0.967 |
|
|
|
|
|
Tax on above Income |
|
0.179 |
|
Add: |
|
|
|
Surcharge |
|
0.000 |
|
Edu. Cess and Higher Edu. Cess |
|
0.005 |
|
|
|
0.184 |
|
|
|
|
|
Gross tax payable (0.573 or 0.184 whichever
is higher) |
|
0.574 |
|
Less: |
|
|
|
Prepaid Taxes: |
|
|
|
Tax deducted at sources: |
|
|
|
Other than salary |
0.816 |
0.816 |
|
TAX REFUNDABLE |
|
(0.242) |
------------------------------------------------------------------------------------------------------------------------------
STATEMENT OF PROFIT AND LOSS
(RS IN MILLIONS)
|
PARTICULAR |
ESTIMATED |
PROJECTED |
PROJECTED |
PROJECTED |
|
|
31.03.2014 |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
|
|
|
|
|
Gross Receipts |
49.454 |
66.762 |
90.129 |
121.674 |
|
|
|
|
|
|
|
Other Income |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
Opening Stock |
2.361 |
3.956 |
6.342 |
8.562 |
|
|
|
|
|
|
|
Add: Purchase |
22.995 |
31.044 |
41.910 |
56.579 |
|
|
|
|
|
|
|
Add: Direct Expenses |
11.869 |
16.023 |
21.631 |
29.202 |
|
|
|
|
|
|
|
Less: Closing Stock |
3.956 |
6.342 |
8.562 |
11.559 |
|
|
|
|
|
|
|
Indirect Expense |
12.363 |
15.355 |
19.828 |
26.768 |
|
|
|
|
|
|
|
Operating Profit Before Int. Tax |
3.821 |
6.725 |
8.980 |
12.122 |
|
|
|
|
|
|
|
Interest |
0.385 |
1.733 |
1.781 |
1.834 |
|
|
|
|
|
|
|
Depreciation |
0.570 |
0.504 |
0.406 |
0.330 |
|
|
|
|
|
|
|
Operating Profit After Int. Tax |
2.866 |
4.489 |
6.792 |
9.959 |
|
|
|
|
|
|
|
Add: Non-Operating Income |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
Less: Non-Operating Expenses |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
Profit Before Tax |
2.866 |
4.489 |
6.792 |
9.959 |
|
|
|
|
|
|
|
Net Profit Appropriation |
0.886 |
1.387 |
2.099 |
3.077 |
|
|
|
|
|
|
|
Retained Profit |
1.980 |
3.102 |
4.693 |
6.882 |
|
|
|
|
|
|
|
Break up of Sales inclusive of Other Incomes
|
49.453 |
66.762 |
90.129 |
121.674 |
------------------------------------------------------------------------------------------------------------------------------
BALANCE SHEET
(RS IN MILLIONS)
|
PARTICULAR |
ESTIMATED |
PROJECTED |
PROJECTED |
PROJECTED |
|
|
31.03.2014 |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
LIABILITIES |
|
|
|
|
|
Capital/ Ordinary/ Share Capital |
1.000 |
1.000 |
1.000 |
1.000 |
|
|
|
|
|
|
|
Reserve and Surplus |
2.649 |
5.750 |
10.444 |
17.325 |
|
|
|
|
|
|
|
Term Liabilities |
3.629 |
4.000 |
4.000 |
3.800 |
|
|
|
|
|
|
|
Short Term Borrowings |
6.000 |
6.700 |
6.750 |
6.650 |
|
|
|
|
|
|
|
Sundry Creditors |
2.905 |
3.922 |
5.295 |
7.148 |
|
|
|
|
|
|
|
Other Current Liabilities |
0.961 |
1.490 |
1.937 |
2.615 |
|
|
|
|
|
|
|
Provision For Taxation |
0.886 |
1.387 |
2.098 |
3.077 |
|
|
|
|
|
|
|
TOTAL |
18.030 |
24.249 |
31.524 |
41.615 |
|
|
|
|
|
|
|
ASSETS |
|
|
|
|
|
Fixed Assets |
3.076 |
2.572 |
2.166 |
1.836 |
|
|
|
|
|
|
|
Non-Current Assets |
1.070 |
1.070 |
1.070 |
1.070 |
|
|
|
|
|
|
|
Intangible Assets |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
Investments |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
Stock in Hand |
3.956 |
6.342 |
8.562 |
11.559 |
|
|
|
|
|
|
|
Sundry Debtors |
4.682 |
6.845 |
9.766 |
13.709 |
|
|
|
|
|
|
|
Other Current Assets |
5.215 |
7.344 |
9.914 |
13.384 |
|
|
|
|
|
|
|
Cash in Hand and Bank Balance |
0.031 |
0.076 |
0.046 |
0.057 |
|
|
|
|
|
|
|
TOTAL |
18.030 |
24.249 |
31.524 |
41.615 |
------------------------------------------------------------------------------------------------------------------------------
ANALYSIS OF BALANCE SHEET
(RS. IN MILLIONS)
|
Particulars |
31.12.2013 |
31.03.2014 |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
Provisional |
Estimated |
Projected |
Projected |
Projected |
|
CURRENT
LIABILITIES |
|
|
|
|
|
|
Short – Term borrowings from banks [including bill
purchased, discounted and excess borrowings placed on repayment basis] |
|
|
|
|
|
|
From applicant Banks |
-- |
-- |
-- |
-- |
-- |
|
From Other Banks |
-- |
-- |
-- |
-- |
-- |
|
Of which BP and BD |
-- |
-- |
-- |
-- |
-- |
|
Sub
Total (A) |
-- |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
Short Term Borrowings from others |
|
|
|
|
|
|
Sundry creditors [Trade] |
-- |
6.000 |
6.700 |
6.750 |
6.650 |
|
Sundry creditors [Expenses] |
4.745 |
2.905 |
3.922 |
5.295 |
7.148 |
|
Advance payments from customers/ deposits from dealers |
-- |
-- |
-- |
-- |
-- |
|
Provision of taxes |
0.357 |
0.885 |
1.387 |
2.099 |
3.077 |
|
Dividend Payable |
-- |
-- |
-- |
-- |
-- |
|
Other Statutory Liabilities (Due within one year) |
1.465 |
0.156 |
0.211 |
0.284 |
0.384 |
|
Deposits/ Installments of Term/ loans/DPGs/Debentures etc.
(Due within one year) |
-- |
-- |
-- |
-- |
-- |
|
Other current liabilities and provision (Due within one year) |
2.947 |
0.805 |
1.280 |
1.652 |
2.231 |
|
|
|
|
|
|
|
|
Sub – Total (B) |
9.515 |
10.752 |
13.500 |
16.081 |
19.490 |
|
|
|
|
|
|
|
|
TOTAL
CURRENT LIABILITIES |
|
|
|
|
|
|
|
|
|
|
|
|
|
TERM
LIABILITIES |
|
|
|
|
|
|
|
|
|
|
|
|
|
Debentures (Not Maturing within one year) |
-- |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
Unsecured Loans from Directors (Redeemable after one year) |
-- |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
Term Loans (Excluding Installment) |
-- |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
Deferred Installment (Due within one year) |
-- |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
Term deposit (repayable after one year) |
-- |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
From Directors and Relatives |
1.457 |
1.599 |
2.200 |
1.900 |
1.950 |
|
|
|
|
|
|
|
|
Other Term Liabilities |
2.277 |
2.030 |
1.800 |
2.100 |
1.850 |
|
|
|
|
|
|
|
|
TOTAL
TERM LIABILITIES |
3.734 |
3.629 |
4.000 |
4.000 |
3.800 |
|
TOTAL
OF OUTSIDE LIABILITIES |
13.249 |
14.382 |
17.500 |
20.081 |
23.290 |
|
|
|
|
|
|
|
|
NET
WORTH |
|
|
|
|
|
|
Share Capital Account |
1.000 |
1.000 |
1.000 |
1.000 |
1.000 |
|
General Reserve |
-- |
-- |
-- |
-- |
-- |
|
Shares Premium Account |
-- |
-- |
-- |
-- |
-- |
|
Surplus (+) or deficit (-) in Profit and Loss Account others (Specify)
|
2.328 |
2.649 |
5.750 |
10.444 |
17.325 |
|
Differed Tax Liability |
-- |
-- |
-- |
-- |
-- |
|
Less: Revolution Reserve |
-- |
-- |
-- |
-- |
-- |
|
Capital Subsidy |
-- |
-- |
-- |
-- |
-- |
|
Unsecured Loan (Quashi Capital) |
-- |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
NET WORTH |
3.328 |
3.649 |
6.750 |
11.444 |
18.325 |
|
|
|
|
|
|
|
|
TOTAL LIABILITIES |
16.577 |
18.030 |
24.250 |
31.524 |
41.616 |
|
|
|
|
|
|
|
|
ASSETS |
|
|
|
|
|
|
CURRENT
ASSETS |
|
|
|
|
|
|
|
|
|
|
|
|
|
Cash and Bank Balance |
0.159 |
0.031 |
0.076 |
0.046 |
0.057 |
|
|
|
|
|
|
|
|
Fixed deposit with bank |
-- |
-- |
-- |
-- |
-- |
|
Receivable Other than Exports |
3.786 |
4.682 |
6.845 |
9.766 |
13.709 |
|
|
|
|
|
|
|
|
Installment of deferred receivable (due within one year) |
-- |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
Export receivables (include bills purchase and discounted
by banks) |
-- |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
INVENTORY: |
|
|
|
|
|
|
Raw materials
(including stores and other item used in the process of manufacturing) |
|
|
|
|
|
|
Imported |
-- |
-- |
-- |
-- |
-- |
|
Indigenous |
-- |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
Stock – in – process |
-- |
-- |
-- |
-- |
-- |
|
Finished Goods |
7.090 |
3.956 |
6.342 |
8.562 |
11.559 |
|
|
|
|
|
|
|
|
Other Consumable Spares |
-- |
-- |
-- |
-- |
-- |
|
Imported Consumables |
-- |
-- |
-- |
-- |
-- |
|
Indigenous Consumables |
-- |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
Advance to Suppliers of Raw materials and stores and
spares |
|
|
|
|
|
|
Advances Payments Taxes |
0.242 |
2.967 |
4.006 |
5.408 |
7.300 |
|
Other current assets |
0.836 |
2.248 |
3.338 |
4.506 |
6.084 |
|
|
|
|
|
|
|
|
TOTAL
CURRENT ASSETS |
12.113 |
13.884 |
20.608 |
28.288 |
38.709 |
|
|
|
|
|
|
|
|
FIXED
ASSETS |
|
|
|
|
|
|
Gross Block |
3.824 |
3.824 |
3.824 |
3.824 |
3.824 |
|
Depreciation to date |
0.712 |
0.748 |
1.252 |
1.658 |
1.988 |
|
|
|
|
|
|
|
|
NET
BLOCK |
3.112 |
3.076 |
2.572 |
2.166 |
1.836 |
|
|
|
|
|
|
|
|
Investment/ books debts/ advances/ exposits which are not
current assets |
-- |
-- |
-- |
-- |
-- |
|
Investment in subsidiary company |
-- |
-- |
-- |
-- |
-- |
|
Others Investment |
-- |
-- |
-- |
-- |
-- |
|
Security Deposits |
-- |
-- |
-- |
-- |
-- |
|
Others |
1.352 |
1.070 |
1.070 |
1.070 |
1.070 |
|
|
|
|
|
|
|
|
TOTAL
OTHER NON – CURRENT ASSETS |
16.577 |
18.030 |
24.250 |
31.524 |
41.616 |
|
|
|
|
|
|
|
|
Intangible assets |
-- |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
TOTAL
ASSETS |
16.577 |
18.030 |
24.250 |
31.524 |
41.616 |
|
|
|
|
|
|
|
|
Tangible Networth |
3.328 |
3.649 |
6.750 |
11.444 |
18.325 |
|
Net Working Capital |
2.598 |
3.132 |
7.108 |
12.208 |
19.219 |
|
Net Working Capital |
2.598 |
3.132 |
7.108 |
12.208 |
19.219 |
|
Current Ratio |
1.27 |
1.29 |
1.53 |
1.76 |
1.99 |
|
Total Outside Liabilities / Tangible Networth |
3.98 |
3.94 |
2.59 |
1.75 |
1.27 |
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
|
Information
Gathered by : |
SVA |
|
|
|
|
Report Prepared
by : |
TPT |
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 |
4 |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
28 |
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.