MIRA INFORM REPORT
|
Report Date : |
08.03.2014 |
IDENTIFICATION DETAILS
|
Name : |
FUSION SPORTSWEAR AND UNIFORMS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
H. No.4-1-1/5/2 and 3, M. A. Estate, Edenbagh, Opposite King Koti
Function Hall, Ramkoti, Hyderabad – 500001, Andhra Pradesh |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
10.02.2011 |
|
|
|
|
Com. Reg. No.: |
01-072555 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.0.500 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U18101AP2011PTC072555 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturing of Readymade Garments and Sportswear. |
|
|
|
|
No. of Employees
: |
Not Divulged |
RATING & COMMENTS
|
MIRA’s Rating : |
B (26) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 7600 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having a moderate track record. The rating constrained on account of moderate financial risk profile
marked by continuous accumulated losses and below average financial
performance. However, trade relations are fair. Business is active. Payment terms
are slow. The company can be considered for 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 (General Details)
Information Provided by Accounts Department
Contact No.: 91-40-32936060
LOCATIONS
|
Registered Office : |
H. No.4-1-1/5/2 and 3, M. A. Estate, Edenbagh, Opposite King Koti
Function Hall, Ramkoti, Hyderabad – 500001, Andhra Pradesh, India |
|
Tel. No.: |
91-40-32936060 |
|
Mobile No.: |
91-9959550505 (Mr. Shyam Narayan Inani) |
|
Fax No.: |
91-40-24766060 |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Rented |
DIRECTORS
(AS ON 25.09.2013)
|
Name : |
Mr. Suresh Pendli |
|
Designation : |
Director |
|
Address : |
Plot No. 19, New Venkat Rao Pet, Lothkunta,
Secunderabad – 500015, Andhra Pradesh, India |
|
Date of Birth/Age : |
24.08.1958 |
|
Date of Appointment : |
10.02.2011 |
|
DIN No.: |
03397770 |
|
|
|
|
Name : |
Mr. Shyam Narayan Inani |
|
Designation : |
Director |
|
Address : |
3-5-121/E/1/4, Eden Garden, Kingkothi, Hyderabad – 500001, Andhra
Pradesh, India |
|
Date of Birth/Age : |
05.01.1987 |
|
Date of Appointment : |
10.02.2011 |
|
DIN No.: |
03397820 |
|
|
|
|
Name : |
Mrs. Vaishali Inani |
|
Designation : |
Director |
|
Address : |
H. No.3-5-121/E/1/3, Ramkoti, Eden Bagh, Hyderabad – 500095, Andhra
Pradesh, India |
|
Date of Birth/Age : |
08.10.1977 |
|
Date of Appointment : |
10.02.2011 |
|
DIN No.: |
03397785 |
|
|
|
|
Name : |
Mr. Agnesamma Mallavarapu |
|
Designation : |
Director |
|
Address : |
Plot No. 19, New Venkat Rao Pet, Lothkunta,
Secunderabad – 500015, Andhra Pradesh, India |
|
Date of Birth/Age : |
25.05.1965 |
|
Date of Appointment : |
10.02.2011 |
|
DIN No.: |
03397793 |
|
|
|
|
Name : |
Mr. Ravinder Reddy Vana, Sreenivas |
|
Designation : |
Director |
|
Address : |
24, Madhupala Enclave, Tadband, Secunderabad – 500009, Andhra Pradesh,
India |
|
Date of Birth/Age : |
01.11.1951 |
|
Date of Appointment : |
10.02.2011 |
|
DIN No.: |
03399934 |
|
|
|
|
Name : |
Mr. Kishan Gopal Inani |
|
Designation : |
Director |
|
Address : |
H. No.27-17-74/7, 3rd Floor, Ramachandra Complex, F. No.1, Peddibhotalavari
Street, Governorpet, Vijayawada – 520002, Andhra Pradesh, India |
|
Date of Birth/Age : |
15.01.1964 |
|
Date of Appointment : |
10.02.2011 |
|
DIN No.: |
03398069 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
(AS ON 25.09.2013)
|
Name of Shareholders |
No. of Shares |
%age |
|
|
|
|
|
Vaishali Inani |
6,250 |
12.50 |
|
Shyam Narayan Inani |
6,250 |
12.50 |
|
Suresh Pendli |
6,250 |
12.50 |
|
Agnesamma Mallavarapu |
6,250 |
12.50 |
|
Kishan Gopal Inani |
6,250 |
12.50 |
|
Madhusudan Inani |
6,250 |
12.50 |
|
Ravinder reddy Vanam
Sreenivas |
6,250 |
12.50 |
|
Meghna Suresh Pandli |
6,250 |
12.50 |
|
|
|
|
|
Total |
50,000 |
100.00 |
(AS ON 30.09.2013)
Equity Shares Break – up
|
Category |
|
Percentage |
|
|
|
|
|
Directors or relatives of directors |
|
100.00 |
|
|
|
|
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing of Readymade Garments and Sportswear. |
GENERAL INFORMATION
|
Customers : |
Wholesalers and End Users |
|
|
|
|
No. of Employees : |
Not Divulged |
|
|
|
|
Bankers : |
Not Divulged |
|
|
|
|
Facilities : |
-- |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Bajaranglal Jhawar and Company Chartered Accountants |
|
Address : |
409, Sherza Estate, 5-3-989, Nizamshahi Road, Hyderabad – 500095,
Andhra Pradesh, India |
|
PAN No.: |
AANPJ4434E |
|
Tel No.: |
91-40-24613469 |
|
Mobile No.: |
91-9849097077 |
|
|
|
|
Enterprises
controlled by relatives of Key Management Personnel : |
· Inani Commercial Corporation · Megha Sports Wear · Megha Sports Shoe Mart · Megha Sports Enterprises · Colours |
CAPITAL STRUCTURE
(AS ON 25.09.2013)
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
100000 |
Equity Shares |
Rs.10/- each |
Rs.1.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
50000 |
Equity Shares |
Rs.10/- each |
Rs.0.500
Million |
|
|
|
|
|
FINANCIAL DATA
[All figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2013 |
31.03.2012 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders'
Funds |
|
|
|
|
(a) Share Capital |
|
0.500 |
0.500 |
|
(b) Reserves & Surplus |
|
(0.102) |
(0.053) |
|
(c) Money
received against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
|
1.500 |
1.500 |
|
Total
Shareholders’ Funds (1)+(2) |
|
1.898 |
1.947 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
|
1.253 |
0.950 |
|
(b) Deferred tax liabilities (Net) |
|
0.000 |
0.000 |
|
(c) Other long term
liabilities |
|
0.000 |
0.000 |
|
(d) long-term
provisions |
|
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
|
1.253 |
0.950 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
|
0.000 |
0.000 |
|
(b) Trade
payables |
|
1.394 |
1.975 |
|
(c) Other
current liabilities |
|
0.485 |
0.130 |
|
(d) Short-term
provisions |
|
0.000 |
0.000 |
|
Total Current
Liabilities (4) |
|
1.879 |
2.105 |
|
|
|
|
|
|
TOTAL |
|
5.030 |
5.002 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
|
1.538 |
1.761 |
|
(ii)
Intangible Assets |
|
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
|
0.000 |
0.000 |
|
(iv)
Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
|
0.037 |
0.021 |
|
(d) Long-term Loan and Advances |
|
0.000 |
0.000 |
|
(e) Other
Non-current assets |
|
0.039 |
0.052 |
|
Total Non-Current
Assets |
|
1.614 |
1.834 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
|
0.000 |
0.000 |
|
(b)
Inventories |
|
2.894 |
2.807 |
|
(c) Trade receivables |
|
0.304 |
0.039 |
|
(d) Cash
and cash equivalents |
|
0.185 |
0.322 |
|
(e)
Short-term loans and advances |
|
0.033 |
0.000 |
|
(f) Other
current assets |
|
0.000 |
0.000 |
|
Total
Current Assets |
|
3.416 |
3.168 |
|
|
|
|
|
|
TOTAL |
|
5.030 |
5.002 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
4.039 |
3.889 |
|
|
|
Other Income |
|
0.821 |
0.631 |
|
|
|
TOTAL |
|
4.860 |
4.520 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
|
4.618 |
4.260 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
|
0.242 |
0.260 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
|
0.308 |
0.334 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
|
(0.066) |
(0.074) |
|
|
|
|
|
|
|
|
|
Less |
TAX |
|
0.017 |
0.021 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
|
(0.049) |
(0.053) |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
|
(0.98) |
-- |
|
KEY RATIOS
|
PARTICULARS |
|
|
31.03.2013 |
31.03.2012 |
|
PAT / Total Income |
(%) |
|
(1.01) |
(1.17) |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
|
(1.63) |
(1.90) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
|
(1.32) |
(1.49) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
|
(0.03) |
(0.04) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
|
0.66 |
0.49 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
|
1.82 |
1.50 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
|
31.03.2012 |
31.03.2013 |
|
|
|
(INR in Mlns.) |
(INR in Mlns.) |
|
Share Capital |
|
0.500 |
0.500 |
|
Reserves & Surplus |
|
-0.053 |
-0.102 |
|
Net worth |
|
0.447 |
0.398 |
|
|
|
|
|
|
long-term borrowings |
|
0.950 |
1.253 |
|
Short term borrowings |
|
0.000 |
0.000 |
|
Total borrowings |
|
0.950 |
1.253 |
|
Debt/Equity ratio |
|
2.125 |
3.148 |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
|
31.03.2012 |
31.03.2013 |
|
|
|
(INR in Mlns) |
(INR in Mlns) |
|
Sales |
|
3.889 |
4.039 |
|
|
|
3.857 |
NET PROFIT MARGIN
|
Net Profit Margin |
|
31.03.2012 |
31.03.2013 |
|
|
|
(INR) |
(INR) |
|
Sales |
|
3.889 |
4.039 |
|
Profit |
|
(0.053) |
(0.049) |
|
|
|
(1.36%) |
(1.21%) |
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 three years |
Yes |
|
12] |
Profitability for last three years |
Yes |
|
13] |
Reasons for variation <> 20% |
----- |
|
14] |
Estimation for coming financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details (if applicable) |
No |
|
21] |
Market information |
----- |
|
22] |
Litigations that the firm / promoter
involved in |
----- |
|
23] |
Banking Details |
No |
|
24] |
Banking facility details |
No |
|
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 |
UNSECURED LOANS
|
Particulars |
31.03.2013 |
31.03.2012 |
|
|
(Rs. In Millions) |
|
|
Long Term
Borrowings |
|
|
|
From Relatives of Directors |
1.253 |
0.950 |
|
|
|
|
|
Total |
1.253 |
0.950 |
FUTURE OUT LOOK
This
is the second year of operation and the company has received good response for the
products manufactured. Keeping in view the response and confidence reposed by
the customers, the directors expect good business in coming years.
OPERATIONS
During
the year, the sales have
increased to Rs.4.039 Millions from Rs.3.889 Millions as compared
to last year. The Company has
reduced its Loss before Tax of Rs.0.066 Million during the year as compared to last year's
Loss of Rs.0.074 Million. The company could maintain its share in
the market despite stiff competition due to its quality conscious and the management
is confident about its increasing its market share in future.
INDEX OF CHARGES: NO CHARGES EXIST FOR COMPANY
FIXED ASSETS:
· Air conditioner
· Cash Counting Machine
· Computer
· Electrical and Fittings
· Furniture and Fixtures
· Plant and Machinery
· Water Dispenser
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 : |
PRT |
|
|
|
|
Report Prepared
by : |
NIT |
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 |
3 |
|
--PROFITABILIRY |
1~10 |
-- |
|
--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 |
NO |
|
--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 |
|
26 |
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.