MIRA INFORM REPORT
|
Report Date : |
14.10.2014 |
IDENTIFICATION DETAILS
|
Name : |
SRV GLOBAL FREIGHT PRIVATE LIMITED |
|
|
|
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Registered
Office : |
A – 901, Rudra Prayag Apartment, Ramdevnagar, Cross Road, Satellite
Road, Ahmedabad – 280015, Gujarat |
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|
Country : |
India |
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|
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Financials (as
on) : |
31.03.2013 |
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Date of
Incorporation : |
23.05.2011 |
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Com. Reg. No.: |
04-065559 |
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Capital
Investment / Paid-up Capital : |
Rs. 0.100 Million |
|
|
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|
CIN No.: [Company Identification
No.] |
U63090GJ2011PTC065559 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
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|
Line of Business
: |
Subject is an international freight forwarder and customs
broker operating out of all Airports and Seaports in India. |
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|
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|
No. of Employees
: |
Information declined by the management. |
RATING & COMMENTS
|
MIRA’s Rating : |
B (28) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Not Available |
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Comments : |
Subject is an established company having moderate track record. The rating reflects moderate financial risk profile marked by moderate
net worth, low profit margin and increased in the borrowing of the company
during 2013. However, trade relations are reported as fair. Business is active.
Payments terms are reported to be slow but correct. The company can be considered for business dealings with some caution.
|
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
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.
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 (91-79-40060868)
LOCATIONS
|
Registered Office : |
A – 901, Rudra Prayag Apartment, Ramdevnagar, Cross Road, Satellite Road,
Ahmedabad – 280015, Gujarat, India |
|
Tel. No.: |
Not Available |
|
Fax No.: |
Not Available |
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E-Mail : |
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Website : |
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Head Office: |
310, 3rd Floor, Shitiratna Building, Near Panchvati Circle,
C G Road, Ahmedabad – 380006, Gujarat, India |
|
Tel. No.: |
91-79-40060868 |
|
Fax No.: |
91-79-26922499 |
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E-Mail : |
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|
Website : |
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Corporate Office/ Branch Office 1 : |
903, Shitiratna Building, Near Panchvati Circle, C.G. Road, Ahmedabad
– 380009, Gujarat, India |
|
Tel. No.: |
91-79-40060868 / 40086858 |
|
Fax No.: |
91-79-26462188 |
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|
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|
Branch Office 2
: |
208, 2nd Floor Nirma Plaza, Makwana Lane, Merol Naka, Andheri
(East), Mumbai – 400059, Maharashtra, India |
|
Tel. No.: |
91-260-2230408 |
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|
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|
Branches : |
Located At:
|
DIRECTORS
AS ON 25.09.2013
|
Name : |
Mr. Mineshkumar Mansukhlal Jagani |
|
Designation : |
Director |
|
Address : |
42 – A, Suraj Appartmnet – 2, Shrof Road, Rajkot – 360001, Gujara,
India |
|
Date of Birth/Age : |
17.01.1971 |
|
Date of Appointment : |
23.05.2011 |
|
DIN No. : |
00053442 |
|
|
|
|
Name : |
Mr. Alvishkumar Mansukhlal Jagani |
|
Designation : |
Director |
|
Address : |
Suraj Appartment, Block No – 42, Shroff road, Rajkot – 360001,
Gujarat, India |
|
Date of Birth/Age : |
24.04.1969 |
|
Date of Appointment : |
23.05.2011 |
|
DIN No. : |
00196637 |
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|
|
|
Name : |
Mr. Vikram Augustine Desouza |
|
Designation : |
Director |
|
Address : |
7, Grotto Apartment, St. Annes Church Road, Off Sherly Rajan road,
Bandra (W), Mumbai – 400050, Maharashtra, India |
|
Date of Birth/Age : |
01.06.1977 |
|
Date of Appointment : |
23.05.2011 |
|
DIN No. : |
03526799 |
|
|
|
|
Name : |
Mr. Rosario Lawrence Dcruz |
|
Designation : |
Director |
|
Address : |
Exotia B003, I.C. Colony, near 206 Last Stop, Boriwali (W), Mumbai –
400103, Maharashtra, India |
|
Date of Birth/Age : |
28.12.1979 |
|
Date of Appointment : |
23.05.2011 |
|
DIN No. : |
03526803 |
|
|
|
|
Name : |
Mr. Sarju Vinodrai Vachhani |
|
Designation : |
Director |
|
Address : |
A – 901, Rudra Prayad Apartment, Ramdevnagar Cross Road, satellite
Road, Ahmedabad – 380015, Gujarat, India |
|
Date of Birth/Age : |
22.10.1977 |
|
Date of Appointment : |
23.05.2011 |
|
DIN No. : |
03526807 |
|
|
|
|
Name : |
Mr. Romalkumar Vinodrai Vachhani |
|
Designation : |
Director |
|
Address : |
8, Ashokkumar Soc, Junagadh - 362001 |
|
Date of Birth/Age : |
04.06.1982 |
|
Date of Appointment : |
23.05.2011 |
|
DIN No. : |
03526808 |
KEY EXECUTIVES
|
Name : |
Mr. Malav Fadia |
|
Designation : |
Branch Manager |
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|
Name : |
Mr. Ron Vas |
|
Designation : |
Branch Manager |
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|
Name : |
Mr. Girish Joshi |
|
Designation : |
Branch Manager |
MAJOR SHAREHOLDERS
As on 25.09.2013
|
Names of Shareholders |
No. of Shares |
|
Alvishkumar Jagani |
1200 |
|
Mineshkumar Jagani |
1200 |
|
Sarju V. Vachhani |
1200 |
|
Romalkumar V. Vachhani |
1200 |
|
Rosario Lawrence Decruz |
1000 |
|
Michelle Rosario Decruz |
1000 |
|
Nileshkumar Makadia |
600 |
|
Rajulkumar Makadia |
600 |
|
Vikram Augustine Desouza |
2000 |
|
Total |
10000 |
As on 25.09.2013
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is an international freight forwarder and customs
broker operating out of all Airports and Seaports in India. |
GENERAL INFORMATION
|
No. of Employees : |
Information declined by the management. |
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|
|
|
Bankers : |
Not Available |
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Banking
Relations : |
-- |
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Auditors : |
|
|
Name : |
VKJD and Associates Chartered Accountants |
|
Address : |
808, Span Trade Center, Opposite Kocharab Ashram, Near Paldi Cross
Road, Ashram Road, Ahmedabad – 380007, Gujarat, India |
|
Tel. No.: |
91-79-40092289 |
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Fax No.: |
91-79-26582289 |
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E-Mail : |
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|
PAN No.: |
AAGFV8617A |
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Associates Entities : |
Accumax Precision Bearing Private Limited. |
CAPITAL STRUCTURE
As on 25.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
500000 |
Equity Shares |
Rs.10/- each |
Rs.5.000 Millions |
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|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000 |
Equity Shares |
Rs.10/- each |
Rs. 0.100 Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are in
Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2013 |
31.03.2012 |
|
|
|
|
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|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
0.100 |
0.100 |
|
(b) Reserves &
Surplus |
|
1.887 |
1.113 |
|
(c) Money received
against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application
money pending allotment |
|
0.000 |
0.000 |
|
Total Shareholders’ Funds
(1) + (2) |
|
1.987 |
1.213 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
|
10.049 |
7.895 |
|
(b) Deferred tax
liabilities (Net) |
|
0.027 |
0.020 |
|
(c) Other long term
liabilities |
|
0.000 |
0.000 |
|
(d) long-term provisions |
|
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
|
10.076 |
7.915 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
|
0.000 |
0.000 |
|
(b) Trade payables |
|
5.231 |
2.822 |
|
(c) Other current
liabilities |
|
0.267 |
0.217 |
|
(d) Short-term provisions |
|
0.000 |
0.000 |
|
Total Current Liabilities
(4) |
|
5.498 |
3.039 |
|
|
|
|
|
|
TOTAL |
|
17.561 |
12.167 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
0.327 |
0.232 |
|
(ii) Intangible Assets |
|
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
|
0.000 |
0.000 |
|
(iv) Intangible assets
under development |
|
0.000 |
0.000 |
|
(b) Non-current
Investments |
|
0.000 |
0.000 |
|
(c) Deferred tax assets
(net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
0.201 |
0.022 |
|
(e) Other Non-current
assets |
|
0.093 |
0.124 |
|
Total Non-Current Assets |
|
0.621 |
0.378 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
0.000 |
0.000 |
|
(b) Inventories |
|
0.000 |
0.000 |
|
(c) Trade receivables |
|
9.096 |
5.636 |
|
(d) Cash and cash
equivalents |
|
5.437 |
5.755 |
|
(e) Short-term loans and
advances |
|
2.407 |
0.392 |
|
(f) Other current assets |
|
0.000 |
0.006 |
|
Total Current Assets |
|
16.940 |
11.789 |
|
|
|
|
|
|
TOTAL |
|
17.561 |
12.167 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Income |
|
80.114 |
51.848 |
|
|
Other Income |
|
0.006 |
0.008 |
|
|
TOTAL (A) |
|
80.120 |
51.856 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Purchases of
Stock-in-Trade |
|
68.842 |
46.204 |
|
|
Employees benefits
expense |
|
4.284 |
1.673 |
|
|
Other expenses |
|
4.517 |
1.514 |
|
|
TOTAL (B) |
|
77.643 |
49.391 |
|
|
|
|
|
|
|
Less |
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION (C) |
|
2.477 |
2.465 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES (D) |
|
1.209 |
0.759 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
|
1.268 |
1.706 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
|
0.130 |
0.073 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX (E-F) (G) |
|
1.138 |
1.633 |
|
|
|
|
|
|
|
Less |
TAX (H) |
|
0.365 |
0.520 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
(G-H) (I) |
|
0.773 |
1.113 |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
0.104 |
0.190 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (Rs.) |
|
77.36 |
129.81 |
KEY RATIOS
|
PARTICULARS |
|
|
31.03.2013 |
31.03.2012 |
|
PAT / Total Income |
(%) |
|
0.96 |
2.15 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
|
1.42 |
3.15 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
|
6.48 |
13.42 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
|
0.57 |
1.35 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
|
5.06 |
6.51 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
|
3.08 |
3.88 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
|
|
(Rs. In Millions) |
(Rs. In Millions) |
|
Share Capital |
0.100 |
0.100 |
|
Reserves & Surplus |
1.113 |
1.887 |
|
Net worth |
1.213 |
1.987 |
|
|
|
|
|
long-term borrowings |
7.895 |
10.049 |
|
Short term borrowings |
0.000 |
0.000 |
|
Total borrowings |
7.895 |
10.049 |
|
Debt/Equity ratio |
6.509 |
5.057 |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.03.2012 |
31.03.2013 |
|
|
(Rs. In Millions) |
(Rs. In Millions) |
|
Sales |
51.848 |
80.114 |
|
|
54.517 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2012 |
31.03.2013 |
|
|
(Rs. In Millions) |
(Rs. In Millions) |
|
Sales |
51.848 |
80.114 |
|
Profit |
1.113 |
0.773 |
|
|
2.15% |
0.96% |
LOCAL AGENCY FURTHER INFORMATION
DETAILS OF CURRENT
MATURITIES OF LONG TERM DEBTS : 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 |
No |
|
10] |
Designation of contact
person |
No |
|
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 |
Yes |
|
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 |
No |
|
24] |
Banking facility details |
No |
|
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 |
VIEW INDEX OF CHARGES:
NO CHARGES EXIST FOR COMPANY
OPERATION:
The directors have great pleasure to inform that the company has achieved turnover of Rs. 80.114 Millions during the year and earned net profit after tax of Rs. 0.773 Million after making provision for tax of Rs. 0.358 Million. The operation of Company comprising of Clearing and Forwarding Activity, The Company is confident to achieve higher sales in the coming years.
UNSECURED LOANS
|
PARTICULAR |
31.03.2013 (Rs.
in Millions) |
31.03.2012 (Rs.
in Millions) |
|
LONG TERM
BORROWINGS |
|
|
|
Loans From Directors, Shareholders and relatives |
9.628 |
6.212 |
|
Intercorporate Director |
0.421 |
1.683 |
|
Total |
10.049 |
7.895 |
FIXED ASSETS
- Computer
- Furniture
- Telephone
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. 61.24 |
|
|
1 |
Rs. 98.68 |
|
Euro |
1 |
Rs. 77.60 |
INFORMATION DETAILS
|
Information Gathered
by : |
HTL |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
SNT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
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 |
4 |
|
--CREDIT LINES |
1~10 |
3 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
28 |
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.