MIRA
INFORM REPORT
|
Report Date : |
09.05.2014 |
IDENTIFICATION DETAILS
|
Name : |
ASHISH ESTATES AND PROPERTIES PRIVATE LIMITED |
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Registered
Office : |
115 Makers Chamber 3, Nariman Point, Mumbai
– 400021, Maharashtra |
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Country : |
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Financials (as
on) : |
31.03.2013 |
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Date of
Incorporation : |
04.11.1981 |
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Com. Reg. No.: |
11-025550 |
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Capital
Investment / Paid-up Capital : |
Rs.1.000 Million |
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CIN No.: [Company Identification
No.] |
U70100MH1981PTC025550 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
MUMA21037C |
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PAN No.: [Permanent Account No.] |
AAACA4555D |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Company is engaged into construction activity. |
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No. of Employees
: |
25 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (43) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 900000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having satisfactory track record. General financial position of the company seems to be sound.
Profitability of the company is fair. 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 conditions. |
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 – March 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
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 PARTED BY
|
Name : |
Mr. Harshil Shavdia |
|
Designation : |
Accounts Head |
|
Contact No.: |
91-22-43439900 |
|
Date : |
06.05.2014 |
LOCATIONS
|
Registered Office : |
115 Makers Chamber 3, Nariman Point, Mumbai
– 400021, Maharashtra, India |
|
Tel. No.: |
91-22-43439900 |
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Fax No.: |
91-22-22043389 |
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E-Mail : |
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Website : |
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Location : |
Owned |
DIRECTORS
AS ON 27.09.2013
|
Name : |
Mr. Ashish Girdharilal
Vaid |
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Designation : |
Director |
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|
Address : |
115, Maker Chambers-3, Nariman Point, Mumbai – 400021, Maharashtra,
India |
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Date of Birth/Age : |
26.10.1965 |
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Date of Appointment : |
07.11.1983 |
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DIN No.: |
00086718 |
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Other Directorship:
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|
Name : |
Mr. Girdharilal Shamlal
Vaid |
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|
Designation : |
Director |
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|
Address : |
115, Maker Chambers-3, Nariman Point, Mumbai – 400021, Maharashtra,
India |
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Date of Birth/Age : |
21.08.1931 |
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Date of Appointment : |
04.11.1981 |
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DIN No.: |
00088394 |
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Other Directorship:
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KEY EXECUTIVES
|
Name : |
Mr. Harshil Shavdia |
|
Designation : |
Accounts Head |
MAJOR SHAREHOLDERS
AS ON 27.09.2013
|
Names of Shareholders |
No. of Shares |
|
Girdharilal Shamlal Vaid |
9999 |
|
Ashish Girdharilal Vaid |
1 |
|
Total |
10000 |
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
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Directors or relatives of Directors |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Company is engaged into construction activity. |
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Terms : |
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Selling : |
Cheque and Credit |
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Purchasing : |
Cheque and Credit |
GENERAL INFORMATION
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Customers : |
Others |
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No. of Employees : |
25 (Approximately) |
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Bankers : |
HDFC Bank, H T Parekh Marg,
Mumbai, Maharashtra, India |
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Facilities : |
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Banking
Relations : |
-- |
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Financial
Institution : |
Housing Development Finance Corporation Limited, Ramon House, 169 Backbay Reclamation, H T Parekh
Marg, Mumbai – 400020, Maharashtra,
India |
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Auditors : |
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Name : |
Nitin N. Anjaria Chartered Accountants |
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Address : |
A/201, Bhagirathi Niwas,
Sir M V Road, Andheri (East), Mumbai – 400069, Maharashtra, India |
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PAN No.: |
AADPA5743K |
CAPITAL STRUCTURE
AS ON 27.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000 |
Equity Shares |
Rs.100/- each |
Rs.1.000 Million |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
|
|
|
|
10000 |
Equity Shares |
Rs.100/- each |
Rs.1.000 Million |
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|
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 |
1.000 |
1.000 |
1.000 |
|
(b) Reserves & Surplus |
226.794 |
156.005 |
154.123 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
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|
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(2) Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
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Total
Shareholders’ Funds (1) + (2) |
227.794 |
157.005 |
155.123 |
|
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|
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(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
606.438 |
428.103 |
313.135 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term liabilities |
0.750 |
0.750 |
0.750 |
|
(d) long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current Liabilities (3) |
607.188 |
428.853 |
313.885 |
|
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(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade payables |
0.000 |
0.000 |
0.000 |
|
(c) Other current
liabilities |
195.144 |
236.585 |
192.227 |
|
(d) Short-term provisions |
0.000 |
0.000 |
0.000 |
|
Total Current Liabilities (4) |
195.144 |
236.585 |
192.227 |
|
|
|
|
|
|
TOTAL |
1,030.126 |
822.443 |
661.235 |
|
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|
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II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
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(a) Fixed Assets |
|
|
|
|
(i)
Tangible assets |
5.357 |
6.347 |
4.285 |
|
(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 |
285.900 |
95.642 |
81.123 |
|
(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 |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
291.257 |
101.989 |
85.408 |
|
|
|
|
|
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(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
476.718 |
592.118 |
459.298 |
|
(c) Trade receivables |
93.628 |
1.308 |
0.000 |
|
(d) Cash and cash
equivalents |
9.959 |
5.875 |
0.754 |
|
(e) Short-term loans and
advances |
138.099 |
105.752 |
100.429 |
|
(f) Other current assets |
20.465 |
15.401 |
15.346 |
|
Total Current Assets |
738.869 |
720.454 |
575.827 |
|
|
|
|
|
|
TOTAL |
1,030.126 |
822.443 |
661.235 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
481.272 |
0.000 |
|
|
|
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Other Income |
39.424 |
16.270 |
|
|
|
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TOTAL (A) |
520.696 |
16.270 |
NA |
|
|
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|
|
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|
Less |
EXPENSES |
|
|
|
|
|
|
|
Expenditure on Project |
423.271 |
0.000 |
|
|
|
|
Employee Benefits Expenses |
8.854 |
9.516 |
|
|
|
|
Other Expenses |
4.938 |
2.125 |
|
|
|
|
TOTAL (B) |
437.063 |
11.641 |
NA |
|
|
|
|
|
|
|
|
Less |
PROFIT/(LOSS)
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
83.633 |
4.629 |
|
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
0.925 |
0.186 |
|
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D)
(E) |
82.708 |
4.443 |
|
|
|
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION (F) |
0.990 |
1.298 |
|
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX (E-F) (G) |
81.718 |
3.145 |
NA |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
10.929 |
1.263 |
|
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
AFTER TAX (G-H) (I) |
70.789 |
1.882
|
2.185 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
7078.88 |
188.24 |
218.49 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
13.60 |
11.57 |
NA |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
16.98 |
NA |
NA |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
10.98 |
0.43 |
NA |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.36 |
0.02 |
NA |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
2.66 |
2.73 |
2.02 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
3.79 |
3.05 |
3.00 |
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 |
1.000 |
1.000 |
1.000 |
|
Reserves & Surplus |
154.123 |
156.005 |
226.794 |
|
Net
worth |
155.123 |
157.005 |
227.794 |
|
|
|
|
|
|
long-term borrowings |
313.135 |
428.103 |
606.438 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Total
borrowings |
313.135 |
428.103 |
606.438 |
|
Debt/Equity
ratio |
2.019 |
2.727 |
2.662 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2012 |
31.03.2013 |
|
|
Rs. In
Millions |
Rs. In
Millions |
|
Total Income |
16.270 |
520.696 |
|
|
|
3,100.344 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2012 |
31.03.2013 |
|
|
Rs. In
Millions |
Rs. In
Millions |
|
Total Income |
16.270 |
520.696 |
|
Profit |
1.882 |
70.789 |
|
|
11.57% |
13.60% |
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
two 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 |
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 |
|
|
|
Aniline
Construction Company Private Limited |
26.183 |
25.500 |
|
Arun Vaid |
5.000 |
5.000 |
|
Ashish Vaid |
0.000 |
66.501 |
|
Ashish Udyog |
328.601 |
77.904 |
|
Span Construction
Company Private Limited |
228.864 |
232.889 |
|
Ramswarrop Shamlal Vaid HUF |
0.000 |
4.000 |
|
Ramswaroop Vaid |
0.000 |
2.000 |
|
Uma Vaid |
10.000 |
6.000 |
|
Sarang Software Private Limited |
7.560 |
7.560 |
|
|
|
|
|
Total |
606.208 |
427.354 |
INDEX OF CHARGE:
|
Sr. No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
90243852 |
30/05/2005 |
2,450,000.00 |
ICICI
BANK LIMITED |
ZENLTH
HOUSE KESHAVRAO KHYADE MARG, MAHALAXMI, MUMBAI, MAHARASHTRA - 480034, INDIA |
- |
|
2 |
90188618 |
05/10/1995 |
10,000,000.00 |
GLOBAL
TRUST BANK LIMITED |
MITTAL
TOWER A -WING, NARIMAN POINT, MUMBAI, MAHARASHTRA - 400021, INDIA |
- |
|
3 |
90240133 |
18/10/2005
* |
10,000,000.00 |
GLOBAL
TRUST BANK LIMITED |
15
MAKER CHAMBERS III, NARIMAN POINT, MUMBAI, MAHARASHTRA - 400021, INDIA |
- |
|
4 |
90187667 |
06/02/1995 |
10,000,000.00 |
GLOBAL
HOUSING FINANCE CORPORATION LIMITED |
CONWOODHOUSE;
YASBODHAM, GEN; A.K. VAIDAYA MARG; GOREGAON EAST, MUMBAI, MAHARASHTRA -
400063, INDIA |
- |
|
5 |
90188396 |
04/09/1990 |
5,000,000.00 |
STATE
BANK OF BIKANER AND JAIPUR |
DANA
BUNDER BRANCH, GIRIRAJ; 1 - ST FLOOR; 73; SANT TUKARAM ROAD, MUMBAI, MAHARASHTRA
- 400009, INDIA |
- |
* Date of charge modification
FIXED ASSETS:
·
Computer
·
Plant and Machinery
·
Vehicle (BMW)
·
Vehicle (Toyota Fortuner)
·
Filing Cabinet
·
Land and Building
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 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.59.99 |
|
|
1 |
Rs.101.75 |
|
Euro |
1 |
Rs.83.48 |
INFORMATION DETAILS
|
Information
Gathered by : |
HTL |
|
|
|
|
Analysis Done by
: |
KRN |
|
|
|
|
Report Prepared
by : |
NKT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
4 |
|
--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 |
|
43 |
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.