MIRA INFORM REPORT
|
Report Date : |
28.11.2014 |
IDENTIFICATION DETAILS
|
Name : |
JYOTI WEIGHING SYSTEMS PRIVATE LIMITED |
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Formerly Known
As : |
JYOTI WEIGHING SYSTEMS LIMITED |
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Registered
Office : |
F-203, GF-29-30, Scheme No.54, Royal Glory, Opposite Sayaji Hotel, |
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Country : |
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Financials (as
on) : |
31.03.2013 |
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Date of
Incorporation : |
26.06.1979 |
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Com. Reg. No.: |
10-001524 |
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Capital
Investment / Paid-up Capital : |
Rs.2.500 Millions |
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CIN No.: [Company Identification
No.] |
U29111MP1979PTC001524 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer of track weighbridge |
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No. of Employees
: |
150 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca (14) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
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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 processed below average operational performance which
has resulted into continuous losses from its operational activities and weak
liquidity profile of the company. Business is active. Payment terms are reported to be slow. The company can be considered for business dealings on safe and
secured 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 – June 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
|
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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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
N E W S
Verdict Implications
: Apex court order may alter coal import dynamics. Traders go slow 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.
EXTERNAL AGENCY RATING
Not Available
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 PARTED BY
|
Name : |
Mr. Kamal Doshi |
|
Designation : |
Accounts Manager |
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Contact No.: |
91-9827795201 |
|
Date : |
27.11.2014 |
LOCATIONS
|
Registered Office : |
F-203, GF-29-30, Scheme No.54, Royal Glory, Opposite Sayaji Hotel,
Indore – 452208, Madhya Pradesh, India |
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Tel. No.: |
91-731-4004090 |
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Fax No.: |
91-731-4004361 |
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E-Mail : |
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Website : |
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Delhi Office : |
1012-A, Indraprakash Building, 21, Barakhamaba Road, New Delhi – 110001,
India |
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Tel. No.: |
91-11-41519020 |
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Fax No.: |
91-11-23737450 |
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E-Mail : |
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Factory : |
66, Industrial Area No. 1, A B Road, Dewas, Madhya Pradesh, India |
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Tel. No.: |
91-7272-405130 |
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Fax No.: |
91-7272-407056 |
DIRECTORS
As on 30.09.2013
|
Name : |
Mr. Mukesh Gupta |
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Designation : |
Whole-Time Director |
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Address : |
D-72,
H.I.G, Indore – 452011, Madhya Pradesh, India |
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Date of Birth/Age : |
25.01.1951 |
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Date of Appointment : |
01.04.2007 |
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DIN No.: |
00346649 |
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Other Directorship:
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Name : |
Mr. Sudhir Agrawal |
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Designation : |
Whole-Time
Director |
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Address : |
R-844,New
Rajendra Nagar, New Delhi – 110060, India |
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Date of Birth/Age : |
08.09.1947 |
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Date of Appointment : |
01.04.2007 |
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DIN No.: |
00828900 |
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Other Directorship:
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KEY EXECUTIVES
|
Name : |
Mr. Kamal Doshi |
|
Designation : |
Accounts Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2013
|
Names of Shareholders |
|
No. of Shares |
|
Mukesh
Gupta |
|
124996 |
|
Sudhir
Agarwal |
|
124998 |
|
Ashok
Bali |
|
1 |
|
Anish
Gupta |
|
1 |
|
Kamal
Dosi |
|
1 |
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N.P.
Bansal |
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1 |
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R.
S. Pathak |
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1 |
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B.B.
Jain |
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1 |
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Total |
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250000 |
Equity Share Break up (Percentage of Total Equity)
As on 30.09.2013
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
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Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of track weighbridge. |
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Exports : |
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Products : |
Finished Goods |
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Countries : |
Bangladesh |
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Imports : |
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Products : |
Raw Material |
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Countries : |
China |
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Terms : |
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Selling : |
Advance Payment and Credit |
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Purchasing : |
Advance Payment and Credit |
GENERAL INFORMATION
|
Suppliers : |
SK Ispat - Raipur |
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Customers : |
Wholesalers, Retailers, End Users Adani Willmar Limited – Bhopal |
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No. of Employees : |
150 (Approximately) |
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Bankers : |
Indian Bank, G-1
Shreevardhan Complex, 4 Rnt Marg, Indore – 452001, Madhya Pradesh, India |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
N. Jagetiya and Associates Chartered Accountants |
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Address : |
208, Arcade Silver, 56 Shops, 1, New Palasia, Indore – 452001, Madhya
Pradesh, India |
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Tel. No.: |
91-731-4064075 |
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Mobile No.: |
91-9826088728 |
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Email: |
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PAN No. : |
ADEPJ6524B |
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Membership : |
-- |
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Related Party : |
-- |
CAPITAL STRUCTURE
As on 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
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|
750000 |
Equity Shares |
Rs.10/- each |
Rs. 7.500 Millions |
|
25000 |
Preference Shares |
Rs.100/- each |
Rs. 2.500 Millions |
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Total |
|
Rs. 10.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
|
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|
250000 |
Equity Shares |
Rs.10/- each |
Rs. 2.500
Millions |
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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 |
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|
(1)Shareholders' Funds |
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(a) Share Capital |
2.500 |
2.500 |
2.500 |
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(b) Reserves & Surplus |
(3.776) |
(2.950) |
(3.422) |
|
(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 |
4.000 |
4.000 |
4.000 |
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Total
Shareholders’ Funds (1) + (2) |
2.724 |
3.550 |
3.078 |
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(3)
Non-Current Liabilities |
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|
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|
(a) long-term borrowings |
0.408 |
0.587 |
0.000 |
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(b) Deferred tax liabilities (Net) |
0.113 |
0.253 |
0.345 |
|
(c) Other long term
liabilities |
7.000 |
2.910 |
1.880 |
|
(d) long-term
provisions |
0.000 |
0.000 |
0.000 |
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Total Non-current
Liabilities (3) |
7.521 |
3.750 |
2.225 |
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(4) Current Liabilities |
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(a) Short term
borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade payables |
14.656 |
11.686 |
6.778 |
|
(c) Other current
liabilities |
5.327 |
4.556 |
5.615 |
|
(d) Short-term
provisions |
0.000 |
0.000 |
0.000 |
|
Total Current
Liabilities (4) |
19.983 |
16.242 |
12.393 |
|
|
|
|
|
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TOTAL |
30.228 |
23.542 |
17.696 |
|
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II.
ASSETS |
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|
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|
(1) Non-current assets |
|
|
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(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
4.346 |
4.024 |
3.119 |
|
(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 |
3.965 |
3.840 |
2.859 |
|
(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 |
8.311 |
7.864 |
5.978 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
18.297 |
14.210 |
6.504 |
|
(c) Trade receivables |
2.619 |
1.035 |
5.571 |
|
(d) Cash and cash equivalents |
(0.650) |
(1.439) |
(2.519) |
|
(e) Short-term loans
and advances |
1.651 |
1.872 |
2.162 |
|
(f) Other current
assets |
0.000 |
0.000 |
0.000 |
|
Total Current Assets |
21.917 |
15.678 |
11.718 |
|
|
|
|
|
|
TOTAL |
30.228 |
23.542 |
17.696 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
TOTAL REVENUES |
130.000
(Approximately) |
120.388 |
114.962 |
|
|
|
|
|
|
|
|
PROFIT OR (LOSS) |
-- |
(0.827) |
0.472 |
|
|
PARTICULARS |
|
|
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
|
96.193 |
|
|
|
Other Income |
|
|
2.868 |
|
|
|
TOTAL (A) |
|
|
99.061 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Raw Material, Stores and Parts Consumed |
|
|
72.186 |
|
|
|
Manufacturing Expenses |
|
|
7.932 |
|
|
|
Staff Expenses |
|
|
4.929 |
|
|
|
Office and Administrative Expenses |
|
|
7.552 |
|
|
|
Selling Expenses |
|
|
1.642 |
|
|
|
Other Expenses |
|
|
4.460 |
|
|
|
Directors Remuneration |
|
|
0.720 |
|
|
|
Increases (Decrease) in stock |
|
|
0.030 |
|
|
|
TOTAL (B) |
|
|
99.451 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
|
|
(0.390) |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
|
|
0.262 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
|
|
(0.652) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
|
|
0.733 |
|
|
|
|
|
|
|
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|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
|
|
(1.385) |
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|
|
|
|
|
|
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|
Less |
TAX (H) |
|
|
0.400 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
|
|
(1.785) |
|
|
|
|
|
|
|
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|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
|
|
(4.379) |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
|
|
(6.164) |
|
|
|
|
|
|
|
|
|
|
Earnings / (Loss)
Per Share (Rs.) |
|
|
0.00 |
|
Expected Sales (2014-2015): Rs.140.000 Millions
The above information has been parted by Mr. Kamal Doshi (Accounts
Manager)
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
NA
|
NA |
(1.80) |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
NA
|
NA |
(1.44) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
NA
|
NA |
(9.33) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
NA
|
NA |
(0.45) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.15
|
0.17 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.10
|
0.97 |
0.95 |
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 |
2.500 |
2.500 |
2.500 |
|
Reserves & Surplus |
(3.422) |
(2.950) |
(3.776) |
|
Net
worth |
(0.922) |
(0.450) |
(1.276) |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.587 |
0.408 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Total
borrowings |
0.000 |
0.587 |
0.408 |
|
Debt/Equity
ratio |
0.000 |
(1.304) |
(0.320) |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Total
Revenues |
114.962 |
120.388 |
|
|
|
4.720 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Total
Revenues |
114.962 |
120.388 |
|
Profit |
0.472 |
(0.827) |
|
|
0.41% |
(0.69%) |
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 |
No |
|
17] |
Major suppliers |
Yes |
|
18] |
Major customers |
Yes |
|
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 |
PERFORMANCE
During the year, the company recorded total Revenue of
120.388 Millions as against 114.962 Millions during previous year. The Company
has incurred a loss of 0.827 Million as compared to profit of 0.472 Million in
the previous year. The Directors are hopeful that the company may be able to
show better performance in coming year.
INDEX
OF CHARGES
|
S.no. |
Charge id |
Date of charge
creation/modification |
Charge amount
secured |
Charge holder |
Address |
Service request
number (SRN) |
|
1 |
10368082 |
05/07/2012 |
400,000.00 |
INDIAN BANK |
G-1 SHREEVARDHAN
COMPLEX, 4 RNT MARG, INDORE, MADHYA PRADESH - 452001, INDIA |
B44705770 |
|
2 |
10357530 |
02/05/2012 |
405,000.00 |
INDIAN BANK |
G-1,
SHREEVARDHAN COMPLEX, 4 RNT MARG, INDORE, MADHYA PRADESH - 452001, INDIA |
B40321473 |
FIXED ASSETS
- Land Building
- Plant and
Machinery
- Electric
Installation
- Furniture and
Fixture
- Motor Car
- Computer
- Office
Equipment
- Cycle
- Type Writer
- Tube Well
- Dies and
Patterns
- Cooling
Equipment
- Metadore
- Scooter
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.60.49 |
|
|
1 |
Rs.99.77 |
|
Euro |
1 |
Rs.83.67 |
INFORMATION DETAILS
|
Information
Gathered by : |
HNA |
|
|
|
|
Analysis Done By
: |
KRN |
|
|
|
|
Report Prepared
by : |
NKT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
2 |
|
PAID-UP CAPITAL |
1~10 |
2 |
|
OPERATING SCALE |
1~10 |
2 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
2 |
|
--PROFITABILIRY |
1~10 |
-- |
|
--LIQUIDITY |
1~10 |
2 |
|
--LEVERAGE |
1~10 |
2 |
|
--RESERVES |
1~10 |
-- |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER
|
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
|
|
|
|
TOTAL |
|
14 |
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.