MIRA INFORM REPORT
|
Report Date : |
05.05.2014 |
IDENTIFICATION DETAILS
|
Name : |
TRIKON ELECTRONICS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
101, Sarvesh Apartment, Bhawani Shankar Road, Dadar (West), Mumbai –
400028, Maharashtra |
|
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Country : |
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|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
04.06.1992 |
|
|
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|
Com. Reg. No.: |
11-067075 |
|
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Capital
Investment / Paid-up Capital : |
Rs.2.200 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U32109MH1992PTC067075 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer, Importer, Exporter and Dealers of Electrical and
Electrical Components. |
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|
|
|
No. of Employees
: |
Information declined by management |
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 6800 |
|
|
|
|
Status : |
Moderate |
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|
|
|
Payment Behaviour : |
Slow |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate track record. The company has recorded huge accumulated losses. Borrowings of the company also seems to be huge which act as threat to
the liquidity position of the company. However, trade relations are reported as fair. Business is active.
Payments terms are reported to be slow. The company can be considered for business dealings with great
caution. |
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
US investment bank
Goldman Sachs has upgraded its outlook on Indian markets as it expects positive
impact of the election cycle.
India’s economy may
grow 4.7 % in the current financial year, lower than the official estimate of
4.9 %, Fitch Rating said. The global rating agency expects the economy to pick
up in the next two financial years.
Global ratings
agency Standard & Poor said increasing focus by India Inc on lowering debt
is likely to improve their credit profiles.
Singapore (1.1
million Indian tourists in 2012), Thailand (one million), the United Arab
Emirates ().98 million) and Malaysia ().82 million) emerged as the preferred
holidays hotspots for Indians. The total figure is expected to increase to 1.93
million by 2017, according to the latest Eurmonitor international report.
There is a $29.34 bn
outward foreign direct investment by domestic companies between April and January
of 2013/14 which has seen some signs of recovery according to a Care Ratings
report.
There are 264 number
of new companies being set up every day on average during 2014. Most of them
are registered in Mumbai. India had 1.38 million registered companies at the
end of January, 2014.
Twitter like
messaging service Weibo Corporation has filed to raise $ 500 million via a US
initial public offering. Alibaba, which owns a stake in Weibo is expected to
raise about $ 15 billion New York this year in the highest profile Internet IPO
since Facebook’s in 2012.
Bharti Airtel has
raised Rs.2,453.2 crore (350 million Swiss Francs) by selling six-year bonds at
a coupon rate of three per cent and maturing in 2020. This is the largest ever
bond offering by an Indian company in Swiss Francs. Bharat Petroleum
Corporation raised 175 million Swiss Francs by selling five year bonds at 2.98
% coupon rate in February.
Indian Oil
Corporation plans to invest Rs.7650 crore in setting up a petrochemical complex
at its almost complete Paradip refinery in Odhisha in three to four years. The
company board is set to consider the setting up of a 700000 tonne per annum
polypropylene plant at an estimated cost at Rs.3150 crore.
Global chief
information officers at gathering in Bangalore in April to meet Indian startups
at an event called Tech50 Watchout for Little Eye Labs-Facebook type deals in
the making.
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
|
Name : |
Mr. Sai |
|
Designation : |
Accounts Manager |
|
Contact No.: |
91-22-24216325 |
|
Date : |
02.05.2014 |
LOCATIONS
|
Registered Office : |
101, Sarvesh Apartment, Bhawani Shankar Road, Dadar (West), Mumbai –
400028, Maharashtra, India |
|
Tel. No.: |
91-22-24216325 |
|
Fax No.: |
91-22-24304247 |
|
E-Mail : |
|
|
Website : |
DIRECTORS
(AS ON 26.09.2013)
|
Name : |
Mr. Rajesh Gopalkrishna Uchil |
|
Designation : |
Director |
|
Address : |
402, Dosti Tulip Building, Dosti Acres, S.M.D. Road Wadala (East),
Mumbai – 400037, Maharashtra, India |
|
Date of Birth/Age : |
23.10.1969 |
|
Date of Appointment : |
31.12.1997 |
|
DIN No.: |
00156744 |
|
|
|
|
Name : |
Mr. Harish Gopalkrishna Uchil |
|
Designation : |
Director |
|
Address : |
Flat No.901/902, Building No.12, Indra Darshan, Swami Samarth Nagar, Andheri
(West), Mumbai – 400053, Maharashtra, India
|
|
Date of Birth/Age : |
11.08.1969 |
|
Date of Appointment : |
31.12.1997 |
|
DIN No.: |
00156960 |
|
|
|
|
Name : |
Mr. Deven Surinder Verma |
|
Designation : |
Director |
|
Date of Appointment : |
04.06.1992 |
|
DIN No.: |
01670080 |
|
|
|
|
Name : |
Mr. Rajesh Gopalkrishna Uchil |
|
Designation : |
Director |
|
Address : |
Flat No.1001/1002, Building No.12, Indra Darshan, Swami Samarth Nagar,
Andheri (West), Mumbai – 400053, Maharashtra, India |
|
Date of Birth/Age : |
05.02.1966 |
|
Date of Appointment : |
31.12.1997 |
|
DIN No.: |
Flat No.1001/1002, Building No.12, Indra Darshan, Swami Samarth Nagar,
Andheri (West), Mumbai – 400053, Maharashtra, India |
KEY EXECUTIVES
|
Name : |
Mr. Sai |
|
Designation : |
Accounts Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
(AS ON 26.09.2013)
|
Name of
Shareholders |
|
No of
Shares |
|
|
|
|
|
Deven Surinder Verma |
|
110000 |
|
Rajesh Gopalkrishna Uchil |
|
55000 |
|
Harish Gopalkrishna Uchil |
|
55000 |
|
|
|
|
|
Total
|
|
220000 |
(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 : |
Manufacturer, Importer, Exporter and Dealers of Electrical and
Electrical Components. |
GENERAL INFORMATION
|
No. of Employees : |
Information declined by management |
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Bankers : |
· Abhyudaya Co-operative Bank Limited Administrative Ofifce, K. K. Tower Abhyudaya Bank, Lane Off G. D.
Ambekar Marg, Parel Village, Mumbai – 400012, Maharashtra, India |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
M. H. Dalal and Associates Chartered Accountants |
|
Address : |
301/308, Balaji Darshan, Tilak Road, Santacruz (West), Mumbai –
400054, Maharashtra, India |
|
Tel No.: |
91-22-26494807 |
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Fax No.: |
91-22-26490862 |
|
PAN No.: |
AAGFM5000Q |
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Email : |
|
|
Website : |
CAPITAL STRUCTURE
(AS ON 26.09.2013)
Authorised Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
250000 |
Equity Shares |
Rs.10/- each |
Rs.2.500 Millions |
|
|
|
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|
Issued, Subscribed & Paid-up Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
220000 |
Equity Shares |
Rs.10/- each |
Rs.2.200
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 |
2.200 |
2.200 |
2.200 |
|
(b) Reserves & Surplus |
(1.971) |
(2.377) |
(2.638) |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
1.482 |
1.482 |
1.482 |
|
Total
Shareholders’ Funds (1)+(2) |
1.711 |
1.305 |
1.044 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
16.305 |
18.125 |
0.000 |
|
(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) |
16.305 |
18.125 |
0.000 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
16.919 |
14.905 |
30.133 |
|
(b) Trade
payables |
0.975 |
0.835 |
0.892 |
|
(c) Other
current liabilities |
9.102 |
8.698 |
8.137 |
|
(d) Short-term
provisions |
0.156 |
0.076 |
0.000 |
|
Total Current
Liabilities (4) |
27.152 |
24.514 |
39.162 |
|
|
|
|
|
|
TOTAL |
45.168 |
43.944 |
40.206 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i)
Tangible assets |
11.489 |
12.469 |
12.962 |
|
(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 |
2.524 |
2.524 |
6.510 |
|
(c) Deferred tax assets (net) |
1.119 |
1.159 |
1.200 |
|
(d) Long-term Loan and Advances |
1.011 |
0.998 |
0.050 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
16.143 |
17.150 |
20.722 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
0.000 |
0.000 |
0.000 |
|
(c) Trade
receivables |
7.625 |
6.135 |
5.519 |
|
(d) Cash
and cash equivalents |
2.041 |
3.993 |
0.271 |
|
(e)
Short-term loans and advances |
0.954 |
0.757 |
0.405 |
|
(f) Other
current assets |
18.405 |
15.909 |
13.289 |
|
Total
Current Assets |
29.025 |
26.794 |
19.484 |
|
|
|
|
|
|
TOTAL |
45.168 |
43.944 |
40.206 |
PROFIT & LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
TOTAL |
39.400 |
31.800 |
22.500 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
38.980 |
31.399 |
22.235 |
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX |
0.420 |
0.401 |
0.265 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
0.120 |
0.118 |
(0.064) |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
AFTER TAX |
0.300 |
0.283 |
0.329 |
|
|
|
|
|
|
|
|
|
|
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
(2.377) |
(2.638) |
(2.760) |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
(2.077) |
(2.355) |
(2.638) |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
1.36 |
1.20 |
-- |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
0.76
|
0.89 |
1.46 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.01
|
0.99 |
0.82 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.25
|
0.31 |
0.32 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
19.42
|
25.31 |
28.86 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.07
|
1.09 |
0.50 |
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 |
2.200 |
2.200 |
2.200 |
|
Reserves & Surplus |
-2.638 |
-2.377 |
-1.971 |
|
Share Application Money
pending allotment |
1.482 |
1.482 |
1.482 |
|
Net worth |
1.044 |
1.305 |
1.711 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
18.125 |
16.305 |
|
Short term borrowings |
30.133 |
14.905 |
16.919 |
|
Total borrowings |
30.133 |
33.030 |
33.224 |
|
Debt/Equity ratio |
28.863 |
25.310 |
19.418 |
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) |
|
Total Income |
22.500 |
31.800 |
39.400 |
|
|
|
41.333 |
23.899 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(INR in Mlns) |
(INR in Mlns) |
(INR in Mlns) |
|
Total Income |
22.500 |
31.800 |
39.400 |
|
Profit |
0.329 |
0.283 |
0.300 |
|
|
1.46% |
0.89% |
0.76% |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITY
OF LONG TERM BORROWINGS DETAIL: 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 |
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 |
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 |
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 |
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) |
|
|
Short Term
Borrowings |
|
|
|
From Directors and Relatives |
12.182 |
10.276 |
|
From Shareholders |
0.075 |
0.075 |
|
|
|
|
|
Total |
12.257 |
10.351 |
OPERATIONS
The total income earned by the company
during the year amounted to Rs.39.400 Millions as against Rs.31.800 Millions in
the previous year. The net profit before tax is Rs.0.420 Million as against
Rs.0.400 Million in the previous year.
INDEX OF CHARGES:
|
S.No. |
Charge ID |
Date of Charge Creation/ Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number
(SRN) |
|
1 |
10277077 |
25/02/2011 |
600,000.00 |
ABHYUDAYA CO-OP. BANK
LTD. |
Administrative Office,
K.K.Tower, Abhyudaya Bank, |
B09554544 |
|
2 |
80060023 |
21/02/2014 * |
68,914,000.00 |
ABHYUDAYA CO-OPERATIVE
BANK LIMITED |
Administrative Office, K.
K. Tower Abhyudaya Bank, |
C00076679 |
|
3 |
90166684 |
19/10/2000 |
886,829.00 |
SCOTIA FINANCE PVT. LTD. |
11; Maker Chamber VI,
220; Nariman Point, Mumbai, |
- |
|
4 |
90166616 |
05/02/2002 * |
500,000.00 |
ABHYUDAYA CO. OP. BANK
LTD. |
Administrative Office,
Parel Village, Mumbai, Maharashtra, India |
- |
* Date of charge modification
FIXED ASSETS:
· Office Premises
· Computer and Accessories
· Electrical Equipment
· Plant and Machinery
· Fixture and Fixtures
· Computer and Accessories
· Motor Car
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.60.22 |
|
|
1 |
Rs.101.68 |
|
Euro |
1 |
Rs.83.46 |
INFORMATION DETAILS
|
Information
Gathered by : |
PRT |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
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 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
2 |
|
--CREDIT LINES |
1~10 |
2 |
|
--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.