|
Report Date : |
10.01.2014 |
IDENTIFICATION DETAILS
|
Name : |
POOJA FORGE LIMITED |
|
|
|
|
Formerly Known
As : |
POOJA FORGE PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
101, Sukhdev Vihar, New Delhi – 110 025, Delhi |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
24.09.1986 |
|
|
|
|
Com. Reg. No.: |
55–025557 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 9.629 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U27310DL1986PLC025557 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
DELP08630G |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACP0136B |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject is engaged in manufacture of high tensile fasteners. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (48) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 3800000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established Company having satisfactory track record. There appears slight dip in profitability of the company during the
financial year 2013. However, general financial position of the company seems to be sound
and healthy. Trade relations are fair. Business is active. Payment terms are
reported to be usually correct. The company can be considered for business dealings at usual trade
terms and condition. |
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 – September 30, 2013
|
Country Name |
Previous Rating (30.06.2013) |
Current Rating (30.09.2013) |
|
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
India’s current account
deficit narrowed in the quarter ended September as government measures to curb
imports, especially gold, kicked in. The current account deficit, the
excess of a country’s imports of goods and services over exports, narrowed to $
5.2 billion from $ 21 billion in the year ago period, according to provisional
Reserve Bank of India data. Finance Minister P. Chidambaram said the CAD for
the year will be less than $ 60 billion or 3 per cent of GDP and the latest
data suggests the government may achieve the target.
India was ranked 94th
among the world’s most corrupt nations list. Denmark and New Zealand topped as
the cleanest while Somalia emerged as the most corrupt.
India’s services
sector activity witnessed a moderate improvement in November over the previous
month, even while indicating the fifth successive monthly contraction,
according the HSBC survey.
$53 million
estimated losses suffered by India due to phishing attacks during the third quarter,
according to a study by RSA. India ranks fourth in the list of nations hit by
phishing attacks. The US remained at the top of the charts. Phishing is the
process of acquiring information such as user names, passwords and credit card
details by sending e-mails disguised as official mails.
Rs.4080 million
worth of mobile-phone-based transactions by July 2013 compared to Rs.260
million in September, 2012, according to Deloitte report. The number of
transactions has shot up from 94000 to 701000.
India aims to earn
Rs.400000 million from the bandwidth auction set for January. The merger and
acquisition guidelines, cleared by a group of ministers, will be out before the
auction begins so that players can make informed decisions on the auctions.
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 BY
Management non-cooperative
Tel. No. 91-129-4046809
LOCATIONS
|
Registered Office : |
101, Sukhdev Vihar, New Delhi – 110 025, Delhi, India |
|
Tel. No.: |
91-129-4046809 |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Corporate Office : |
14/4, Mathura Road, Faridabad-121003, |
|
Tel. No.: |
91-129-4046809, 4046707 |
|
Fax No.: |
91-129-4046708, 2270719 |
DIRECTORS
As on: 30.09.2013
|
Name : |
Mr. Manish Aggarwal |
|
Designation : |
Managing Director |
|
Address : |
101, Sukhdev Vihar, |
|
Date of Birth/Age : |
10.09.1967 |
|
Qualification : |
Graduate |
|
Date of Appointment : |
01.11.2002 |
|
PAN No.: |
AAAPA4322R |
|
DIN No.: |
00610999 |
|
|
|
|
Name : |
Mr. Jagdish Kumar Aggarwal |
|
Designation : |
Chairman and Managing Director |
|
Address : |
101, Sukhdev Vihar, |
|
Date of Birth/Age : |
18.11.1938 |
|
Qualification : |
Graduate |
|
Date of Appointment : |
01.04.2002 |
|
PAN No.: |
AAAPA4323Q |
|
DIN No.: |
00024816 |
|
|
|
|
Name : |
Mr. Kailash Moudgil |
|
Designation : |
Whole time Director |
|
Address : |
House No.642, Sector – 29, |
|
Date of Birth/Age : |
15.07.1957 |
|
Qualification : |
Graduate |
|
Date of Appointment : |
01.07.2006 |
|
DIN No.: |
00407910 |
|
|
|
|
Name : |
Mr. Mohinder Kumar Luthra |
|
Designation : |
Director |
|
Address : |
House No – 19, Opposite Baba ICE Plant Chawla Colony Balabgarh,
Faridabad - 121004, Haryana, India |
|
Date of Birth/Age : |
21.12.1962 |
|
Date of Appointment : |
06.07.2013 |
|
DIN No.: |
|
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 30.09.2013
|
Names of Shareholders |
|
No. of Shares |
|
Manish Aggarwal |
|
337896 |
|
Jagdish Kumar Aggarwal |
|
613304 |
|
Shashi Agarwal |
|
8200 |
|
Jagdish Kumar Agarwal |
|
3400 |
|
Perfect Fasteners Limited |
|
10 |
|
Manish Agarwal |
|
45 |
|
J.K Agarwal and Manish Agarwal (Joint) |
|
45 |
|
|
|
|
|
Total |
|
962900 |
Equity Share Break up (Percentage of Total Equity)
As on: 30.09.2013
|
Category |
|
Percentage |
|
|
|
|
|
Bodies corporate |
|
0.36 |
|
Directors or relatives of directors |
|
99.64 |
|
|
|
|
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in manufacture of high tensile fasteners. |
||||
|
|
|
||||
|
Products : |
|
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Bankers : |
|
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Facilities : |
(Rs.
In Millions)
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
T. K. Gupta and Associates Chartered Accountants |
|
Address : |
4228/1, Ansari Road, Darya Ganj, New Delhi-110002, Delhi, India. |
|
PAN No.: |
AABFT1801B |
CAPITAL STRUCTURE
As on: 30.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2000000 |
Equity Shares |
Rs.10/- each |
Rs. 20.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
962900 |
Equity Shares |
Rs.10/- each |
Rs. 9.629
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 |
9.629 |
9.629 |
9.629 |
|
(b) Reserves & Surplus |
955.748 |
870.167 |
753.571 |
|
(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) |
965.377 |
879.796 |
763.200 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a)
long-term borrowings |
153.912 |
59.183 |
174.246 |
|
(b) Deferred tax liabilities
(Net) |
112.148 |
107.990 |
98.430 |
|
(c)
Other long term liabilities |
0.000 |
0.000 |
0.000 |
|
(d)
long-term provisions |
3.760 |
3.760 |
1.730 |
|
Total
Non-current Liabilities (3) |
269.820 |
170.933 |
274.406 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
503.498 |
388.266 |
348.912 |
|
(b)
Trade payables |
112.855 |
112.772 |
78.239 |
|
(c)
Other current liabilities |
37.563 |
46.577 |
25.799 |
|
(d)
Short-term provisions |
45.981 |
54.640 |
43.020 |
|
Total
Current Liabilities (4) |
699.897 |
602.255 |
495.970 |
|
|
|
|
|
|
TOTAL |
1935.094 |
1652.984 |
1533.576 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
923.101 |
938.967 |
843.871 |
|
(ii)
Intangible Assets |
6.959 |
8.805 |
10.651 |
|
(iii)
Capital work-in-progress |
68.060 |
0.000 |
0.000 |
|
(iv) Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b)
Non-current Investments |
4.907 |
4.907 |
0.007 |
|
(c)
Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
13.054 |
11.503 |
7.075 |
|
(e)
Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
1016.081 |
964.182 |
861.604 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
301.355 |
214.614 |
271.135 |
|
(c)
Trade receivables |
364.958 |
326.702 |
292.351 |
|
(d)
Cash and cash equivalents |
159.395 |
49.943 |
16.392 |
|
(e)
Short-term loans and advances |
76.564 |
71.016 |
92.007 |
|
(f)
Other current assets |
16.741 |
26.527 |
0.087 |
|
Total
Current Assets |
919.013 |
688.802 |
671.972 |
|
|
|
|
|
|
TOTAL |
1935.094 |
1652.984 |
1533.576 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
1954.288 |
2073.387 |
1672.982 |
|
|
|
Other Income |
18.421 |
1.824 |
9.261 |
|
|
|
TOTAL (A) |
1972.709 |
2075.211 |
1682.243 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
1100.861 |
1043.385 |
837.756 |
|
|
|
Purchases of stock-in-trade |
9.673 |
8.663 |
10.442 |
|
|
|
Changes in inventories of finished goods, work-in-progress and stock-in-trade |
(112.549) |
10.710 |
7.806 |
|
|
|
Employee benefit expense |
169.910 |
160.527 |
140.651 |
|
|
|
Other expenses |
569.803 |
557.686 |
469.284 |
|
|
|
Exceptional items |
0.404 |
0.028 |
(0.023) |
|
|
|
TOTAL (B) |
1738.102 |
1780.999 |
1465.916 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
234.607 |
294.212 |
216.327 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
53.541 |
73.342 |
38.338 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
181.066 |
220.870 |
177.989 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
53.227 |
46.609 |
43.514 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
127.839 |
174.261 |
134.475 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
42.258 |
57.666 |
44.500 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
85.581 |
116.595 |
89.975 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
FOB Value of Exports |
227.517 |
294.097 |
168.857 |
|
|
TOTAL EARNINGS |
227.517 |
294.097 |
168.857 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
652.174 |
311.884 |
416.350 |
|
|
|
Capital Goods |
9.455 |
10.673 |
4.974 |
|
|
|
Others |
62.298 |
86.243 |
44.169 |
|
|
TOTAL IMPORTS |
723.927 |
408.800 |
465.493 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
88.88 |
121.09 |
93.53 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
4.33 |
5.61 |
5.35 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
6.54 |
8.41 |
8.03 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
6.87 |
10.57 |
8.77 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.13 |
0.20 |
0.18 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.69 |
0.51 |
0.69 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.31 |
1.14 |
1.36 |
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 |
No |
|
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 |
UNSECURED LOAN
(Rs.
In Millions)
|
Particulars |
As on 31.03.2013 |
As on 31.03.2012 |
|
Long term
borrowings |
|
|
|
Loans and advances from directors |
57.118 |
5.771 |
|
Other loans and advances |
1.513 |
0.000 |
|
|
|
|
|
Total |
58.631 |
5.771 |
INDEX OF CHANGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10054220 |
16/04/2007 |
10,000,000.00 |
STATE BANK OF INDORE |
KHANDELWAL CHAMBERS, MHOW NEEMUCH ROAD SECTOR-I, |
A16278384 |
|
2 |
90043531 |
13/03/2013 * |
584,500,000.00 |
STATE BANK OF INDIA |
COMMERCIAL BRANCH, VARDHMAN TRADE CENTER, DDA BUILDING ,NEHRU PLACE, NEW DELHI, Delhi - 110019, INDIA |
B71524763 |
|
3 |
90043529 |
01/09/2003 * |
20,000,000.00 |
STATE BANK OF INDIA |
COMMERCIAL BRANCH; VARDMAN TRADE CENTER, PLOT NO3 |
- |
* Date of charge modification
FIXED ASSETS:
v Land
v Building
v
v Plant and Machinery
v Furniture and Fixtures
v Office Equipments
v Vehicles
v Electrical Fittings
v Weighing Sales
v Computer
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. 62.18 |
|
|
1 |
Rs. 102.31 |
|
Euro |
1 |
Rs. 84.50 |
INFORMATION DETAILS
|
Information Gathered
by : |
HTL |
|
|
|
|
Report Prepared
by : |
DPH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--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.