MIRA INFORM REPORT
|
Report Date : |
03.11.2014 |
IDENTIFICATION DETAILS
|
Name : |
CUBIX MICRO SYSTEMS INDIA PRIVATE LIMITED |
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Registered
Office : |
2-3, 3rd Floor, A Wing, Mangalmurti Complex, S. No.
1171, Sinhgad Road, Pune – 411030, Maharashtra |
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Country : |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
17.09.1999 |
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Com. Reg. No.: |
25-13992 |
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Capital Investment
/ Paid-up Capital : |
Rs.25.165
Millions |
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CIN No.: [Company Identification
No.] |
U72200PN1999PTC013992 |
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|
Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Trader of IT Products and Solutions. |
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No. of Employees
: |
Information denied by management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
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 a satisfactory track record. General financial position of the company seems to be sound and
healthy. Profitability of the company is fair. Trade relations are reported to be fair. Business is active. Payments
are reported to be usually correct. The company can be considered for business dealing 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.
N E W S
Verdict
Implications: Apex court order may alter coal import dynamics. Traders go
slowly on talks over coal supply contracts, uncertainty over cancellation of
blocks weigh on stocks.
Recent arrest of the
Chennai head of the Registrar of Companies, the ministry of corporate affairs
arm that ensures that companies file all the information required by the
Companies Act is the latest manifestation of a messy fight between a father and
his adopted son for the control of Rs 40000 mn Business Empire. The Central
Bureau of Investigation arrested Manumeethi Cholan after he accepted Rs 10
lakhs as bribe from M a M Ramaswamy, a CBI official said.
Central Bureau of
Investigation books Electrotherm for cheating Central Bank of Rs 4360 mn.
Infosys maintains
revenue guidance. COO Rao says attrition still an area of concern and it would
take a few more quarters to bring down levels to 13-15 %.
DHL to invest Euro
100 mn in India over next 2 years. The firm has chosen India to pilot its
e-commerce business model for the Asia-Pacific region.
Blackstone may buy
stake in BlueRidge SEZ in line with the fund’s real estate strategy in India.
Kingfisher Airlines Ltd
grounded in October 2012 under the weight of heavy debt and accumulated losses,
recently approached the Delhi high court for relief in two separate cases. The
airline challenged a notice by Punjab & National Bank alleging that it had
wilfully defaulted on Rs 7700 mn of loans and sought more time to comply with
the requirements under the listing agreements with the Stock Exchanges.
OnMobile likely to
sack another 300 employees. The lay-offs follow a spate of senior-level exits
over the past two years, starting with of its founder. The overall lay-offs
could number around 600 and are driven by the need to cut costs, says a former
employee.
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
31-03-2014.
INFORMATION DENIED
Management Non Co-Operative (Tel No.: 91-20-24251594)
LOCATIONS
|
Registered/ Head Office 1 : |
2 - 3 , 3rd Floor, A Wing, Mangalmurti Complex, S. No.
1171, |
|
Tel. No.: |
91-20-24251594 (6 Lines) |
|
Fax No.: |
91-20-24251591 |
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E-Mail : |
vijay@cubixindia.com manisha.patwardhan@cubixindia.com apdhavalikar@vsnl.com |
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Website : |
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Area : |
1200 Sq. Ft |
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Location : |
Owned |
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Head Office 2 : |
5th Floor, Senate, S. No. 118A, Jaidev Nagar, |
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Branch office: |
Located At:
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DIRECTORS
As on 02.08.2014
|
Name : |
Mr. Vijay Sakharam Joshi |
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Designation : |
Director |
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Address : |
3, Vishwa Laxmi Co-operative Housing Society, Mayur Colony, Kothrud,
Pune – 411 029, |
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Date of Birth/Age : |
13.09.1964 |
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Date of Appointment : |
17.09.1999 |
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DIN No.: |
01441955 |
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Name : |
Mr. Nitin Anand Naik |
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Designation : |
Director |
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Address : |
G – 707, S .No. 3+4, Pinnac Towers, Pinnac Memories II, Kothrud, Pune –
411 029, Maharashtra, India |
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Date of Birth/Age : |
07.05.1966 |
|
Date of Appointment : |
17.09.1999 |
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DIN No.: |
01801352 |
KEY EXECUTIVES
|
Name : |
Adwait Walunjkar and Associates |
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Designation : |
Company Secretaries |
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Address : |
“Akshay Shri”, 216 5th Floor, N. C. Kelkar Road, Near Behide Bridge, Narayan Peth, Pune – 411030, Maharashtra, India |
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Name : |
Ms. Bhakti Deshpande |
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Designation : |
Accounts Manager |
MAJOR SHAREHOLDERS
As on 02.08.2014
|
Names of Shareholders (Equity Shares) |
|
No. of Shares |
|
Vijay Sakharam Joshi |
|
10 |
|
Nitin Anand Naik |
|
10 |
|
Sarita Vijay Joshi |
|
490 |
|
Shilpa Nitin Naik |
|
490 |
|
Vijay Sakharam Joshi |
|
49000 |
|
Nitin Anand Naik |
|
49000 |
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Total |
|
99000 |
|
Names of Shareholders (Preferences Shares) |
|
No. of Shares |
|
Nitin Anand Naik |
|
77330 |
|
Vijay Sakharam Joshi |
|
75320 |
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Total |
|
152650 |
Equity Share Break up (Percentage of Total Equity)
As on 02.08.2014
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Trader of IT Products and Solutions. |
GENERAL INFORMATION
|
No. of Employees : |
Information denied by management |
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Bankers : |
· Cosmos Co-Operative Bank Limited, 269/270, Shaniwar Peth, Pune – 411 030, Maharashtra, India
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
S. V. Mujumdar and Company Chartered Accountants |
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Address : |
Flat No.301, Wing, Kamal Village, Katraj Kondhwa Road, Gokul Nagar, Pune – 411048, Maharashtra, India |
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E-Mail : |
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PAN.: |
AQLPM7714J |
CAPITAL STRUCTURE
As on 02.08.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
100000 |
Equity Shares |
Rs.100/- each |
Rs.10.000 Millions |
|
160000 |
Preferences Shares |
Rs.100/- each |
Rs.16.000 Millions |
|
|
Total |
|
Rs.26.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
99000 |
Equity Shares |
Rs.100/-
each |
Rs.9.900
Millions |
|
152650 |
Preferences Shares |
Rs.100/- each |
Rs.15.265 Millions |
|
|
Total |
|
Rs.25.165 Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders'
Funds |
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|
|
|
(a) Share Capital |
25.165 |
25.165 |
25.165 |
|
(b) Reserves & Surplus |
40.006 |
35.112 |
30.266 |
|
(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) |
65.171 |
60.277 |
55.431 |
|
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|
|
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|
(3) Non-Current
Liabilities |
|
|
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|
(a) long-term borrowings |
14.660 |
20.314 |
18.714 |
|
(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) |
14.660 |
20.314 |
18.714 |
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(4) Current Liabilities |
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(a) Short
term borrowings |
46.827 |
18.642 |
11.878 |
|
(b) Trade
payables |
32.547 |
31.084 |
41.247 |
|
(c) Other
current liabilities |
23.419 |
23.054 |
19.359 |
|
(d) Short-term
provisions |
0.256 |
0.222 |
0.431 |
|
Total Current
Liabilities (4) |
103.049 |
73.002 |
72.915 |
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|
|
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TOTAL |
182.880 |
153.593 |
147.060 |
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II.
ASSETS |
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(1) Non-current assets |
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(a) Fixed
Assets |
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(i)
Tangible assets |
36.980 |
40.530 |
46.039 |
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(ii)
Intangible Assets |
1.857 |
2.471 |
0.863 |
|
(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 |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
0.223 |
0.030 |
0.035 |
|
(d) Long-term Loan and Advances |
0.000 |
0.000 |
0.000 |
|
(e) Other
Non-current assets |
1.480 |
1.575 |
1.735 |
|
Total Non-Current
Assets |
40.540 |
44.606 |
48.672 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
26.681 |
21.137 |
20.131 |
|
(c) Trade
receivables |
85.127 |
57.686 |
57.563 |
|
(d) Cash
and cash equivalents |
13.633 |
16.024 |
11.861 |
|
(e) Short-term
loans and advances |
0.000 |
0.000 |
0.000 |
|
(f) Other
current assets |
16.899 |
14.140 |
8.833 |
|
Total
Current Assets |
142.340 |
108.987 |
98.388 |
|
|
|
|
|
|
TOTAL |
182.880 |
153.593 |
147.060 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
||
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SALES |
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||
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|
Income |
334.200 |
293.910 |
251.093 |
|
|
|
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Other Income |
1.510 |
2.052 |
1.977 |
|
|
|
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TOTAL |
335.710 |
295.962 |
253.070 |
|
|
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|
|
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||
|
Less |
EXPENSES |
325.010 |
286.096 |
244.296 |
||
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||
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PROFIT/(LOSS)
BEFORE TAX |
10.700 |
9.866 |
8.774 |
||
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||
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Less |
TAX |
5.806 |
5.020 |
4.115 |
||
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||
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PROFIT/(LOSS)
AFTER TAX |
4.894 |
4.846 |
4.659 |
||
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||
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
35.112 |
30.266 |
25.607 |
||
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|
|
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||
|
|
BALANCE CARRIED
TO THE B/S |
40.006 |
35.112 |
30.266 |
||
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EARNINGS IN
FOREIGN CURRENCY |
|
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||
|
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|
Export Earnings |
31.659 |
12.040 |
12.123 |
|
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TOTAL EARNINGS |
31.659 |
12.040 |
12.123 |
||
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||
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IMPORTS |
NA |
126.814 |
105.040 |
||
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||
|
|
Earnings /
(Loss) Per Share (Rs.) |
19.45 |
19.26 |
18.51 |
||
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT/Sales) |
(%) |
1.46 |
1.65 |
1.86 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
5.86 |
6.42 |
5.97 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.16 |
0.16 |
0.16 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.94 |
0.65 |
0.55 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.38 |
1.49 |
1.35 |
FINANCIAL ANALYSIS
[all figures are in
Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
Rs.
In Millions |
Rs.
In Millions |
Rs.
In Millions |
|
Share Capital |
25.165 |
25.165 |
25.165 |
|
Reserves & Surplus |
30.266 |
35.112 |
40.006 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
55.431 |
60.277 |
65.171 |
|
|
|
|
|
|
Long Term borrowings |
18.714 |
20.314 |
14.660 |
|
Short Term borrowings |
11.878 |
18.642 |
46.827 |
|
Total
borrowings |
30.592 |
38.956 |
61.487 |
|
Debt/Equity
ratio |
0.552 |
0.646 |
0.943 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
Rs.
In Millions |
Rs.
In Millions |
Rs.
In Millions |
|
Sales |
251.093 |
293.910 |
334.200 |
|
|
|
17.052 |
13.708 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
Rs.
In Millions |
Rs.
In Millions |
Rs.
In Millions |
|
Sales
|
251.093 |
293.910 |
334.200 |
|
Profit |
4.659 |
4.846 |
4.894 |
|
|
1.86% |
1.65% |
1.46% |
LOCAL AGENCY FURTHER INFORMATION
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 |
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 |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
No |
UNSECURED LOANS:
|
Particulars |
31.03.2014 Rs. In Millions |
31.03.2013 Rs. In Millions |
|
LONG TERM BORROWINGS |
|
|
|
Loans from directors |
7.193 |
7.326 |
|
Total |
7.193 |
7.326 |
REVLEW OF
BUSINESS OPERATION:
The operating income of your company was Rs.334.200 Millions as against Rs.293.911 Millions in the previous year and the profit after tax was Rs.4.894 Millions as against Rs.4.846 Millions in the previous year. The Directors of the company are ensuring that the resources of the company are utilized efficiently 50 a5 to maximize profits of the company and to increase shareholders value. The Board of Directors are confident that the company, in the coming financial year will be able to increase its profit’s by undertaking appropriate cost reduction measures.
INDEX OF CHARGE:
|
Sr. No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10416118 |
06/03/2013 |
9,000,000.00 |
Cosmos Co-Operative Bank Limited |
269/270, Shaniwar Peth, Pune, Maharashtra - 411030, India |
B72084791 |
|
2 |
10339558 |
31/01/2012 |
8,100,000.00 |
Cosmos Co-Operative Bank Limited |
269/270, Shaniwar Peth, Pune, Maharashtra - 411030, India |
B33856790 |
|
3 |
10260188 |
15/12/2010 |
2,500,000.00 |
Cosmos Co-Operative Bank Limited |
269/270, Shaniwar Peth, Pune, Maharashtra - 411030, India |
B03350733 |
|
4 |
10117329 |
26/03/2013 * |
2,500,000.00 |
Cosmos Co-Operative Bank Limited |
269/270, Shaniwar Peth, Pune, Maharashtra - 411030, India |
B73007965 |
|
5 |
10106461 |
13/09/2013 * |
4,130,000.00 |
Cosmos Co-Operative Bank Limited |
269/270, Shaniwar Peth, Pune, Maharashtra - 411030, India |
B86565983 |
|
6 |
10106460 |
09/03/2013 * |
48,000,000.00 |
Cosmos Co-Operative Bank Limited |
269/270, Shaniwar Peth, Pune, Maharashtra - 411030, India |
B72088149 |
|
7 |
90091433 |
26/12/2000 |
100,000.00 |
Cosmos Co-Operative Bank Limited |
269/270, Shaniwar Peth, Pune, Maharashtra - 411030, India |
- |
*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.61.41 |
|
UK Pound |
1 |
Rs.98.06 |
|
Euro |
1 |
Rs.77.19 |
INFORMATION DETAILS
|
Information
Gathered by : |
GYT |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
VNT |
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 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
|
45 |
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.