MIRA INFORM REPORT
|
Report Date : |
29.03.2014 |
IDENTIFICATION DETAILS
|
Name : |
JDS TRANSFORMERS INDUSTRIES PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Plot No.31, Central Service Road, Hingna, MIDC, Nagpur – 440028,
Maharashtra |
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Country : |
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|
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Financials (as
on) : |
31.03.2013 |
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Date of
Incorporation : |
07.07.1999 |
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Com. Reg. No.: |
11-120696 |
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Capital
Investment / Paid-up Capital : |
Rs.2.000 Millions |
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CIN No.: [Company Identification
No.] |
U31102MH1999PTC120696 |
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|
Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer of Conductors, Wire Drawing, Aluminum Wire for Cables,
Triple AC Wire and Double AC Wires. |
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|
No. of Employees
: |
16 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (27) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 58000 |
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|
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 a moderate track record. Profitability of the company seems to be low during 2013. However, trade relations are fair. Business is active. Payments are
reported to be slow but correct. 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
India’s current account deficit for the fiscal third quarter ended
September 2013 narrowed to $4.2 billion or 0.9 % of the gross domestic product
from $31.9 billion or 6.5 % of GDP a year earlier, thanks to a pick-up in
exports and moderation in gold imports. Manufacturing activity and new orders
in India showed their strongest growth in a year in February. The news comes as
a relief after data showed Asia’s third largest economy grew by a
slower-than-expected 4.7 % annually in the three months through December. The
HSBC Manufacturing Purchasing Managers’ Index which gauges the business
activity of India’s factories but not its’ utilities, rose to 52.5 in February,
its highest in a year from 51.4 in January. Overall new orders for factory
goods which rose to a one-year high of 54.9 contributed to the surge. China has
emerged as India’s biggest trading partner in the current financial year
replacing the United Arab Emirates and pushing it to the third spot.
India-China trade has reached $49.5 billion with a 8.7 % share in India’s total
trade. The US comes second at $46 billion with 8.1 % share during the first
nine months of the current financial year.
The Reserve Bank of India has granted an additional nine months to the
public to exchange currency notes printed before 2005 including Rs 500 and Rs
1,000 denominations, pushing the deadline to January 1, 2015. A day before
dates for the Lok Sabha polls were announced, the government decided to hike
interest rates on fixed deposit schemes offered by post offices up to 0.2 per
cent. The new rates will be effective April, 1. The Supreme Court will resume
hearing on March, 11 Nokia’s appeal against a ruling over transferring
ownership of its local mobile phones plant which is the subject of a tax
dispute to Microsoft Corp.
In the last days of the current Government, another scam has surfaced.
The defence ministry has ordered a probe into Hindustan Aeronautics Limited’s
contracts from Britain’s Rolls-Royce Holdings worth at least $ 1.2 billion. The
Central Bureau of Investigation will look into allegations that over $80
million was paid in kickbacks in a deal signed in 2011. India has asked Boeing
Co. to find a solution for problems with state-owned Air India’s 787
Dreamliners. The aircraft has experienced a series of malfunctions since its
debut in 2011.
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. Ajay Singh |
|
Designation : |
Chartered Accountant |
|
Contact No.: |
91-7104-237197 |
|
Date : |
27.03.2014 |
LOCATIONS
|
Registered Office : |
Plot No.31, Central Service Road, Hingna, MIDC, Nagpur – 440028,
Maharashtra, India |
|
Tel. No.: |
91-7104-234506/ 237197/ 234581 |
|
Mobile No.: |
91-937390839 (Mr. |
|
Fax No.: |
91-7104-237988 |
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E-Mail : |
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Factory : |
D-11, Opposite Bhagwati District, Near By Nipani, Punegaond-11, Nagpur
– 440001, Maharashtra, India |
DIRECTORS
(AS ON 30.09.2013)
|
Name : |
Mr. Jyotindra Gordhanbhai Patel |
|
Designation : |
Director |
|
Address : |
Jyotshree R/14,R/15, Bhange, Vihar Trmurti Nagar, Nagpur – 440022,
Maharashtra, India |
|
Date of Birth/Age : |
01.04.1951 |
|
Date of Appointment : |
15.07.1999 |
|
DIN No.: |
00555884 |
|
|
|
|
Name : |
Mr. Sahaj Jyotendra Patel |
|
Designation : |
Managing director |
|
Address : |
Jyotshree R/14,R/15, Bhange, Vihar Trimurti Nagar, Nagpur – 440022,
Maharashtra, India |
|
Date of Birth/Age : |
24.09.1978 |
|
Date of Appointment : |
01.04.2012 |
|
DIN No.: |
00556050 |
|
|
|
|
Name : |
Mrs. Daksha Jyotindra Patel |
|
Designation : |
Director |
|
Address : |
Jyotshree R/14,R/15, Bhange, Vihar Trmurti Nagar, Nagpur – 440022,
Maharashtra, India |
|
Date of Birth/Age : |
23.07.1951 |
|
Date of Appointment : |
31.03.2012 |
|
DIN No.: |
00552799 |
KEY EXECUTIVES
|
Name : |
Mr. Ajay Singh |
|
Designation : |
Chartered Accountant |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
(AS ON 30.09.2013)
|
Name of Shareholders |
No. of Shares |
%age |
|
Jyotindra G. Patel
Jointly with Daksha Patel |
11,500 |
5.75 |
|
Sahaj Jyotindra Patel Jointly
with Rina Patel |
27,900 |
13.95 |
|
Daksha J. Patel Jointly
with Jyotindra Patel |
1,50,300 |
75.15 |
|
Rina Sahaj Patel Jointly
with Sahaj Patel |
10,300 |
5.15 |
|
|
|
|
|
Total |
200000 |
100.00 |
(AS ON 30.09.2013)
Equity Shares Break – up
|
Category |
|
Percentage |
|
|
|
|
|
Directors or relatives of directors |
|
100.00 |
|
|
|
|
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Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Conductors, Wire Drawing, Aluminum Wire for Cables,
Triple AC Wire and Double AC Wires. |
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Imports : |
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Products : |
Raw Materials |
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Countries : |
Dubai |
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Terms : |
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Selling : |
L/C and Cheque |
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Purchasing : |
L/C and Cheque |
GENERAL INFORMATION
|
Customers : |
Retailers |
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No. of Employees : |
16 (Approximately) |
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Bankers : |
· Axis Bank M. G. House Rabindra Nath Tagore Road, Civil Lines, Nagpur – 440001,
Maharashtra, India · UCO Bank Mount Road Branch, Sadar, Nagpur – 440001, Maharashtra, India |
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Facilities : |
Cash Credit – Rs.20.000 Millions/ LC – Rs.25.000 Millions from Axis Bank
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Banking Relations
: |
-- |
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Auditors : |
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|
Name : |
Ratan Chandak and Company Chartered Accountants |
|
Address : |
Shreevardhan Complex, 7-Farmland, Ramdaspeth, Nagpur – 440012,
Maharashtra, India |
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PAN No.: |
AABFR8203R |
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Email : |
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Website : |
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Associates/Subsidiaries : |
· KJV Alloy Conductors Private Limited Nagpur, Maharashtra, India |
CAPITAL STRUCTURE
(AS ON 30.09.2013)
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 |
|
|
|
|
|
|
200000 |
Equity Shares |
Rs.10/- each |
Rs.2.000
Millions |
|
|
|
|
|
FINANCIAL DATA
[All figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders'
Funds |
|
|
|
|
(a) Share Capital |
2.000 |
2.000 |
1.524 |
|
(b) Reserves & Surplus |
12.467 |
11.704 |
8.331 |
|
(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) |
14.467 |
13.704 |
9.855 |
|
|
|
|
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|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
38.120 |
38.209 |
37.565 |
|
(b) Deferred tax liabilities (Net) |
5.651 |
5.679 |
5.611 |
|
(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) |
43.771 |
43.888 |
43.176 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade
payables |
3.428 |
2.982 |
16.306 |
|
(c) Other
current liabilities |
4.051 |
6.332 |
5.496 |
|
(d) Short-term
provisions |
0.899 |
1.363 |
0.972 |
|
Total Current
Liabilities (4) |
8.378 |
10.677 |
22.774 |
|
|
|
|
|
|
TOTAL |
66.616 |
68.269 |
75.805 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
12.774 |
14.256 |
14.987 |
|
(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 |
0.030 |
0.030 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
0.000 |
0.000 |
0.000 |
|
(e) Other
Non-current assets |
0.404 |
0.240 |
0.226 |
|
Total Non-Current
Assets |
13.208 |
14.526 |
15.243 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
19.139 |
21.934 |
31.598 |
|
(c) Trade
receivables |
21.839 |
13.060 |
14.359 |
|
(d) Cash
and cash equivalents |
4.909 |
8.189 |
6.548 |
|
(e) Short-term
loans and advances |
0.000 |
0.000 |
0.000 |
|
(f) Other
current assets |
7.521 |
10.560 |
8.057 |
|
Total
Current Assets |
53.408 |
53.743 |
60.562 |
|
|
|
|
|
|
TOTAL |
66.616 |
68.269 |
75.805 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
298.394 |
255.165 |
241.319 |
|
|
|
Other Income |
1.084 |
1.065 |
0.866 |
|
|
|
TOTAL |
299.478 |
256.230 |
242.185 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
298.359 |
255.064 |
240.262 |
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
1.119 |
1.166 |
1.923 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
0.356 |
0.63 |
0.608 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX |
0.763 |
0.803 |
1.315 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
9.134 |
8.331 |
7.016 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
9.897 |
9.134 |
8.331 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
3.82 |
-- |
-- |
|
Expected Sales (2013-14): Rs.300.000 Millions
The above information has been parted by Mr. Ajay Singh.
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
0.25
|
0.31 |
0.54 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
0.38
|
0.46 |
0.80 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.68
|
1.71 |
2.54 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.08
|
0.09 |
0.20 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
2.63
|
2.79 |
3.81 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
6.37
|
5.03 |
2.66 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(INR in Mlns.) |
(INR in Mlns.) |
(INR in Mlns.) |
|
Share Capital |
1.524 |
2.000 |
2.000 |
|
Reserves & Surplus |
8.331 |
11.704 |
12.467 |
|
Net worth |
9.855 |
13.704 |
14.467 |
|
|
|
|
|
|
long-term borrowings |
37.565 |
38.209 |
38.12 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Total borrowings |
37.565 |
38.209 |
38.120 |
|
Debt/Equity ratio |
3.812 |
2.788 |
2.635 |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(INR in Mlns) |
(INR in Mlns) |
(INR in Mlns) |
|
Sales |
241.319 |
255.165 |
298.394 |
|
|
|
5.738 |
16.942 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(INR in Mlns) |
(INR in Mlns) |
(INR in Mlns) |
|
Sales |
241.319 |
255.165 |
298.394 |
|
Profit |
1.315 |
0.803 |
0.763 |
|
|
0.54% |
0.31% |
0.26% |
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 last three years |
Yes |
|
12] |
Profitability for last three years |
Yes |
|
13] |
Reasons for variation <> 20% |
----- |
|
14] |
Estimation for coming financial year |
Yes |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
Yes |
|
20] |
Export / Import details (if applicable) |
Yes |
|
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 |
31.03.2012 |
|
|
(Rs. In Millions) |
|
|
Long Term
Borrowings |
|
|
|
Daksha Patel |
0.655 |
0.785 |
|
Jyotindra G. Patel |
0.482 |
1.412 |
|
|
|
|
|
Total |
1.137 |
2.197 |
NOTE:
The Registered office of the company has been shifted
from F-5/6, Premium Plazamata Mandir Road, Khare Town, Dharampeth, Nagpur,
Maharashtra, India, to the present address w.e.f. 15.06.2009.
OPERATION
The
total sales of the company has increased from last year. The total sales were
Rs.298.394 Millions during the year report as against Rs.255.165 Millions from
previous year. The operations for the year resulted in net profit of Rs.1.119
Millions as against net profit of Rs.1.166 Millions in the previous year.
Though the Company has earned an operating profit of Rs.1.623 Millions in the
current year and Rs.2.622 Millions from previous year.
The directors are very optimistic about enhancing the sales as well as profit
in the coming year.
FIXED ASSETS:
· Air Cooler
· Air Conditioner
· Building WIP
· Car Wagon-R
· Computer
· Electrical Installation
· Factory Building
· Generator
· Innova Car
· Invertor
· Mobile Instrument
· Nano Car
· Plant and Machinery
· Refrigerator
· Tools and equipments
· Water Dispenser
· Weighing Machine
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.60.13 |
|
|
1 |
Rs.99.65 |
|
Euro |
1 |
Rs.82.91 |
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 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
27 |
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.