MIRA INFORM REPORT
|
Report Date : |
10.03.2014 |
IDENTIFICATION DETAILS
|
Name : |
SANGHVI INFOTECH PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
502, Sampati Apartments, Opposite Dr. Mavlankar S Bunglow, Mithakhali Navrangpura,
Ahmedabad – 380 009, |
|
|
|
|
Country : |
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|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
23.09.1999 |
|
|
|
|
Com. Reg. No.: |
04-036611 |
|
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|
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Capital
Investment / Paid-up Capital : |
Rs.0.500 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U72200GJ1999PTC036611 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
AHMS02312C |
|
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|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Trading in Networking Components and Network Solutions. |
|
|
|
|
No. of Employees
: |
90 (Approximately) |
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 6000 |
|
|
|
|
Status : |
Moderate |
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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. The company has taken huge external borrowing, which acts as
threatening to the liquidity position of the company. However, trade relations are fair. Business is active. Payment terms
are slow but correct. The company can be considered for business dealing with some
cautions. |
NOTES:
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
INDIAN ECONOMIC OVERVIEW
The services sector, the largest contributor to India’s GDP, contracted
for the sixth consecutive month in December, as orders dipped. However, hiring
has risen. Direct tax collections rose 12.3 % during the April – December
period of the current financial year. The government has decided to
retain 100 per cent foreign direct investment in both greenfield (new) and
brown field (existing) pharmaceutical companies, despite concerns over genetic
drugs going out of production, if multi-national companies take over domestic
ones. In M&A deals, a non compete clause would not be allowed, except in
special circumstances. The Department of Industrial Policy and Promotion plans
to release the next edition of its consolidated foreign direct investment
policy document on March 31, incorporating changes made in the past year. DIPP
compiles all policies related to India’s FDI regime into a single document to
make it easy for investors to understand. 185 million estimated number of
mobile internet users in India by June 2014, according to a report by the
Internet & Mobile Association of India and IMRB International. India
had 110 million mobile internet users with 25 million in rural areas. $3.77 tn
estimated global IT spending in 2014, according to research firm Gartner Inc.
The growth forecast for this year is cut to 3.1 %from the earlier estimate of
3.5 %. The spending growth forecast for telecom services – a segment that accounts
for more than 40 % at total IT spending – from 1.9 per cent to 1.2 per cent is
the main reason for this overall IT cut. A Reserve Bank of India committee has
recommended setting up a special category of lenders who would cater to small
businesses and households, to expand the number of customers with access to
banking services. These banks would focus onproviding payment services and
deposit products. Indian banks want the free use of automated teller
machines to be capped at five transactions in a month including that of the
bank in which the account is active. This follows state government order to
banks to install security guards at ATM booths after a woman banker was
assaulted in Bangalore. The government is likely to present a vote on Account
in mid-February. The annual Economic Survey will be tabled later in Parliament
along with the full Budget. A full Budget for 2014/15 is likely to be present
in July by the new government formed after the General Election. The government
will soon launch an internet spy system, called Netra, to detect malafide
messages. Security agency will deploy the system to capture dubious voice
traffic on applications such as Skype and Google Talk, as well as tweeters.
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. Jigar Bhikalal Sanghavi |
|
Designation : |
Director |
|
Contact No.: |
91-9825039318 |
|
Date : |
07.03.2014 |
LOCATIONS
|
Registered Office : |
502, Sampati Apartments, Opposite Dr. Mavlankar S Bunglow, Mithakhali
Navrangpura, Ahmedabad – 380009, Gujarat, India |
|
Tel. No.: |
91-79-26421274 |
|
Mobile No.: |
91-9825039318 (Mr. Jigar Bhikalal Sanghavi) |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
1000 Sq. ft. |
|
Location : |
Rented |
|
|
|
|
Head Office : |
907, Pinnacle Business Park, Near Corporate Park Road, Prahlad Nagar |
|
|
|
|
Corporate Office : |
315, |
|
Tel. No.: |
91-79-66300264 |
|
E-Mail : |
|
|
Location : |
Rented |
|
|
|
|
Regional Offices
: |
Tel No.: 91-79-66300264
Tel No.: 91-261-2353962
|
|
|
|
|
Branch Office : |
Located at
|
DIRECTORS
As on 29.09.2012
|
Name : |
Mr. Manish Bhikalal Sanghvi |
|
Designation : |
Director |
|
Address : |
502, Sampati Apartment, Near Mithakhali Bus Stop, Ahmedabad – 380 006,
|
|
Date of Birth/Age : |
23.04.1972 |
|
Qualification : |
Graduate |
|
Date of Appointment : |
23.09.1999 |
|
DIN No.: |
01099765 |
|
|
|
|
Name : |
Mr. Jigar Bhikalal Sanghavi |
|
Designation : |
Director |
|
Address : |
502, Sampati Apartment, Near Mithakhali Bus Stop, Ahmedabad – 380 006,
|
|
Date of Birth/Age : |
16.02.1977 |
|
Qualification : |
Graduate |
|
Date of Appointment : |
23.09.1999 |
|
DIN No.: |
01099767 |
MAJOR SHAREHOLDERS
As on 29.09.2012
|
Names of Shareholders |
No. of Shares |
% of Holding |
|
Jigar Bhikalal Sanghavi |
24900 |
49.80 |
|
Manish Bhikalal Sanghvi |
24900 |
49.80 |
|
Bijal J Sanghvi |
100 |
0.20 |
|
Purvi M Sanghvi |
100 |
0.20 |
|
Total |
50000 |
100.00 |
Equity Share Break up (Percentage of Total Equity)
As on 29.09.2012
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Trading in Networking Components and Network Solutions. |
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|
|
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Terms : |
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|
Selling : |
L//C and Credit |
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Purchasing : |
L//C and Credit |
GENERAL INFORMATION
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Customers : |
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No. of Employees : |
90 (Approximately) |
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Bankers : |
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Facilities : |
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Banking
Relations : |
-- |
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|
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Auditors : |
|
|
Name : |
Kalpesh A. Mehta and Company Chartered Accountants |
|
Address : |
A/12, Mangaldip Apartment, Jodhpur Road, Satelite, Ahmedabad – 380015,
Gujarat, India |
|
Tel. No.: |
91-79-26920217 |
|
PAN No.: |
AAPPM1648D |
CAPITAL STRUCTURE
After 29.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
200000 |
Equity Shares |
Rs.10/- each |
Rs.2.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
50000 |
Equity Shares |
Rs.10/- each |
Rs.0.500 Million |
As on 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
50000 |
Equity Shares |
Rs.10/- each |
Rs.0.500 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 |
31.03.2011 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
0.500 |
0.500 |
0.500 |
|
(b) Reserves & Surplus |
1.043 |
0.501 |
0.146 |
|
(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) |
1.543 |
1.001 |
0.646 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
24.628 |
19.031 |
6.153 |
|
(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) |
24.628 |
19.031 |
6.153 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade
payables |
8.885 |
9.464 |
10.258 |
|
(c) Other
current liabilities |
0.000 |
0.000 |
0.000 |
|
(d) Short-term
provisions |
2.475 |
1.782 |
2.172 |
|
Total Current
Liabilities (4) |
11.360 |
11.246 |
12.430 |
|
|
|
|
|
|
TOTAL |
37.531 |
31.278 |
19.229 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
9.602 |
6.682 |
3.644 |
|
(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 |
0.030 |
0.025 |
0.025 |
|
(c) Deferred tax assets (net) |
1.025 |
1.025 |
1.025 |
|
(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 |
10.657 |
7.732 |
4.694 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
4.328 |
4.614 |
1.985 |
|
(c) Trade
receivables |
12.455 |
13.717 |
8.985 |
|
(d) Cash
and cash equivalents |
0.267 |
0.028 |
0.089 |
|
(e)
Short-term loans and advances |
9.824 |
5.187 |
3.476 |
|
(f) Other
current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
26.874 |
23.546 |
14.535 |
|
|
|
|
|
|
TOTAL |
37.531 |
31.278 |
19.229 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
50.414 |
48.195 |
38.975 |
|
|
|
Other Income |
0.821 |
1.503 |
0.309 |
|
|
|
TOTAL (A) |
51.235 |
49.698 |
39.284 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Purchase of goods |
28.548 |
31.680 |
21.741 |
|
|
|
Employee Benefits |
11.916 |
11.226 |
10.597 |
|
|
|
Other Expenses |
6.502 |
6.652 |
4.973 |
|
|
|
Changes in inventories of finished goods |
0.286 |
(2.629) |
0.219 |
|
|
|
TOTAL (B) |
47.252 |
46.929 |
37.530 |
|
|
|
|
|
|
|
|
Less |
PROFIT/(LOSS)
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
3.983 |
2.769 |
1.754 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
2.146 |
1.348 |
0.589 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D)
(E) |
1.837 |
1.421 |
1.165 |
|
|
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION (F) |
1.295 |
0.840 |
0.998 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX (E-F) (G) |
0.542 |
0.581 |
0.167 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
0.000 |
0.226 |
0.247 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
AFTER TAX (G-H) (I) |
0.542 |
0.355 |
(0.080) |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
|
|
|
|
|
|
Cash |
-- |
24.00 |
18.34 |
|
|
|
Basic and
Diluted |
11.00 |
7.00 |
0.00 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
1.06 |
0.71 |
(0.20) |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
1.08 |
1.21 |
0.43 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.49 |
1.92 |
0.92 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.35 |
0.58 |
0.26 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
15.96 |
19.01 |
9.52 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.37 |
2.09 |
1.17 |
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 |
0.500 |
0.500 |
0.500 |
|
Reserves & Surplus |
0.146 |
0.501 |
1.043 |
|
Net
worth |
0.646 |
1.001 |
1.543 |
|
|
|
|
|
|
long-term borrowings |
6.153 |
19.031 |
24.628 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Total
borrowings |
6.153 |
19.031 |
24.628 |
|
Debt/Equity
ratio |
9.525 |
19.012 |
15.961 |
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 |
|
Sales |
38.975 |
48.195 |
50.414 |
|
|
|
23.656 |
4.604 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
Rs.
In Millions |
Rs.
In Millions |
Rs.
In Millions |
|
Sales
|
38.975 |
48.195 |
50.414 |
|
Profit |
(0.080) |
0.355 |
0.542 |
|
|
(0.21%) |
0.74% |
1.08% |
LOCAL AGENCY FURTHER INFORMATION
NOTE: CURRENT
MATURITIES OF LONG TERM DEBT DETAILS NOT AVAILABLE
|
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 |
Yes |
|
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 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 |
Yes |
|
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] |
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 Rs. In Millions |
31.03.2012 Rs. In Millions |
|
Long Term Borrowings |
|
|
|
From Directors |
20.160 |
17.282 |
|
From inter
corporate |
0.000 |
0.467 |
|
Family Credit
Limited |
0.000 |
0.022 |
|
Total |
20.160 |
17.771 |
INDEX OF CHARGE:
|
Sr. No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10110162 |
18/03/2010 * |
1,000,000.00 |
The Cosmos Co-Operative Bank
Limited |
"Cosmos Bank Bhavan,
Opposite Income Tax, Ashram Road, Pankornaka Branch, Ahmedabad, Gujarat
-380009, |
A82958000 |
*Date of modification Charges
FIXED ASSETS:
·
Land
·
Building
·
Plant and Machinery
·
Computer
·
Vehicles
·
Furniture and Fixture
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.60.98 |
|
|
1 |
Rs.102.07 |
|
Euro |
1 |
Rs.84.52 |
INFORMATION DETAILS
|
Information Gathered
by : |
PLK |
|
|
|
|
Report Prepared
by : |
VNT |
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 |
3 |
|
--RESERVES |
1~10 |
2 |
|
--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 |
|
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.