MIRA
INFORM REPORT
|
Report Date : |
19.09.2014 |
IDENTIFICATION DETAILS
|
Name : |
ROYAL SURGICARE PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Plot No. 832, Nr. Ganesh Rubber, Prime Automization Gali, Sanjet –
382721, |
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Country : |
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Financials (as
on) : |
31.03.2013 |
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Date of
Incorporation : |
10.08.2006 |
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Com. Reg. No.: |
04-048890 |
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Capital
Investment / Paid-up Capital : |
Rs. 1.500 Millions |
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|
CIN No.: [Company Identification
No.] |
U33112GJ2006PTC048890 |
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|
TAN No.: [Tax Deduction &
Collection Account No.] |
AHMR04151A |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer and Exporter Disposable Products. |
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No. of Employees
: |
46 ( Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (44) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 46000 |
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|
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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. Trade relations are fair. Business is active. Payment terms are
reported as 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 – June 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
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.
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. Pareshkumar Patel |
|
Designation : |
Director |
|
Contact No.: |
91-9898019292 |
|
Date : |
13.09.2014 |
LOCATIONS
|
Registered Office / Factory : |
Plot No. 832, Nr. Ganesh Rubber, Prime Automization Gali, Sanjet –
382721, Gujarat, India |
|
Tel. No.: |
91-2764-286633 / 292288 |
|
Mobile No,: |
91-9898019292 (Mr. Pareshkumar
Patel) |
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E-Mail : |
|
|
Area : |
Owned |
DIRECTORS
As on 27.09.2013
|
Name : |
Mr. Kalpanaben Pareshkumar Patel |
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|
Designation : |
Director |
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|
Address : |
Bunglow No. 16, Shaligram, Near Sangini Bunglows, Thaltej, Ahmedabad-380015,
Gujarat , India |
|||||||||||||||||||||||||||
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Date of Birth/Age : |
16.08.1971 |
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Date of Appointment : |
10.08.2006 |
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DIN No.: |
01552075 |
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|||||||||||||||||||||||||||
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Name : |
Mr. Pareshkumar Jayantilal Patel |
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|
Designation : |
Director |
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|
Address : |
Bunglow No.16, Shaligram, Near Sangini Bunglows, Thaltej, Ahmedabad -
380015, Gujarat , India |
|||||||||||||||||||||||||||
|
Date of Birth/Age : |
18.07.1968 |
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Date of Appointment : |
10.08.2006 |
|||||||||||||||||||||||||||
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DIN No.: |
01552099 |
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Other
Directorship :
|
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MAJOR SHAREHOLDERS
As on 27.09.2013
|
Names of Shareholders |
No. of Shares |
Percentage of
Holding |
|
Pareshkumar Jayantilal Patel |
76700 |
51.13 |
|
Kalpanaben Pareshkumar Patel |
73300 |
48.87 |
|
Total |
150000 |
100.00 |
As on 27.09.2013
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 : |
Manufacturer and Exporter Disposable Products |
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Exports : |
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Countries : |
·
Australia |
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Imports : |
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Countries : |
·
China ·
Korea |
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Terms : |
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Selling : |
Cash and Credit |
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Purchasing : |
Cash and Credit |
GENERAL INFORMATION
|
No. of Employees : |
46 (Approximately) |
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Bankers : |
Bank of Baroda, Sola Road, Ahmedabad-380061, Gujarat, India |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Lakhani Ismaili Tundiya and Company Chartered Accountant |
|
Address : |
911-913, Span Trade Center, Near Kochrab Ashram Road,
Ahmedabad-380006, Gujarat, India |
|
PAN No.: |
AABFL1713G |
CAPITAL STRUCTURE
As on 27.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
250000 |
Equity Share |
Rs.10/- each |
Rs. 2.500 millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
150000 |
Equity Share |
Rs.10/- each |
Rs. 1.500
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 |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
1.500 |
1.500 |
1.500 |
|
(b) Reserves & Surplus |
10.137 |
7.868 |
5.976 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
11.637 |
9.368 |
7.476 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
8.706 |
7.157 |
6.728 |
|
(b) Deferred tax liabilities (Net) |
0.029 |
0.048 |
0.105 |
|
(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) |
8.735 |
7.205 |
6.833 |
|
|
|
|
|
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(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
4.060 |
0.816 |
1.903 |
|
(b) Trade payables |
7.084 |
4.241 |
5.471 |
|
(c) Other current
liabilities |
2.606 |
3.530 |
3.115 |
|
(d) Short-term provisions |
2.802 |
1.775 |
0.849 |
|
Total Current Liabilities (4) |
16.552 |
10.362 |
11.338 |
|
|
|
|
|
|
TOTAL |
36.924 |
26.935 |
25.647 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
11.085 |
8.937 |
8.969 |
|
(ii) Intangible Assets |
0.019 |
0.022 |
0.026 |
|
(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 |
0.012 |
0.012 |
0.012 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
0.705 |
0.640 |
0.632 |
|
(e) Other Non-current assets |
0.022 |
0.031 |
0.041 |
|
Total Non-Current Assets |
11.843 |
9.642 |
9.680 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
11.389 |
6.968 |
5.438 |
|
(c) Trade receivables |
10.186 |
7.244 |
8.003 |
|
(d) Cash and cash
equivalents |
0.362 |
1.521 |
0.336 |
|
(e) Short-term loans and
advances |
3.135 |
1.550 |
2.180 |
|
(f) Other current assets |
0.009 |
0.010 |
0.010 |
|
Total Current Assets |
25.081 |
17.293 |
15.967 |
|
|
|
|
|
|
TOTAL |
36.924 |
26.935 |
25.647 |
PROFIT & LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
61.201 |
59.017 |
52.937 |
|
|
|
Other Income |
0.031 |
0.536 |
0.315 |
|
|
|
TOTAL |
61.232 |
59.553 |
53.252 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
29.950 |
32.842 |
37.765 |
|
|
|
Office Expenses |
12.741 |
10.694 |
0.000 |
|
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
0.625 |
(0.550) |
0.218 |
|
|
|
Employees benefits expense |
6.217 |
6.652 |
6.995 |
|
|
|
Other expenses |
5.386 |
4.191 |
3.387 |
|
|
|
TOTAL |
54.919 |
53.829 |
48.365 |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX, DEPRECIATION
AND AMORTISATION |
6.313 |
5.724 |
4.887 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
1.363 |
1.438 |
0.905 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
4.950 |
4.286 |
3.982 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
1.674 |
1.479 |
1.389 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
EXCEPTIONAL AND EXTRAORDINARY ITEMS AND TAX |
3.276 |
2.807 |
2.593 |
|
|
|
|
|
|
|
|
|
Less |
PRIOR PERIOD ADJUSTMENT |
0.000 |
0.046 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
3.276 |
2.761 |
2.593 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
1.007 |
0.869 |
0.806 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX |
2.269 |
1.892 |
1.787 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
OF EARLIER YEARS |
7.868 |
5.976 |
4.188 |
|
|
|
|
|
|
|
|
|
|
Balance Carried
to the B/S |
10.137 |
7.868 |
5.975 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
15.13 |
12.62 |
11.92 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
|
|
|
|
PAT / Total Income |
(%) |
3.71 |
3.18 |
3.36 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
5.35 |
4.68 |
4.90 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
8.88 |
10.26 |
10.12 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.28 |
0.29 |
0.35 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
1.10 |
0.85 |
1.15 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.52 |
1.67 |
1.41 |
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 |
1.500 |
1.500 |
1.500 |
|
Reserves & Surplus |
5.976 |
7.868 |
10.137 |
|
Net
worth |
7.476 |
9.368 |
11.637 |
|
|
|
|
|
|
long-term borrowings |
6.728 |
7.157 |
8.706 |
|
Short term borrowings |
1.903 |
0.816 |
4.060 |
|
Total
borrowings |
8.631 |
7.973 |
12.766 |
|
Debt/Equity
ratio |
1.154 |
0.851 |
1.097 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
52.937 |
59.017 |
61.201 |
|
|
|
11.485 |
3.701 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
52.937 |
59.017 |
61.201 |
|
Profit |
1.788 |
1.893 |
2.269 |
|
|
3.38% |
3.21% |
3.71% |
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 |
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) |
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 |
Note :
Registered office of the company has been shifted
from Bunglow No. – 16, Shaligram-3, NR. Sangnini Bunglows, Thaltej, Ahmedabad -
380015, Gujarat, India to the present address w.e.f 03.10.2012. But the same has not been in the
Government registry.
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10422281 |
20/03/2013 |
300,000.00 |
BANK OF BARODA |
SOLA ROAD,
AHMEDABAD, Gujarat - 380061, INDIA |
B73901167 |
|
2 |
10413539 |
25/09/2012 |
699,125.00 |
BANK OF BARODA |
SOLA ROAD,
AHMEDABAD, Gujarat - 380061, INDIA |
B63053870 |
|
3 |
10325506 |
12/11/2011 |
353,000.00 |
BANK OF BARODA |
SOLA ROAD
BRANCH- A.P.M. SHOPPING MALL, OPP. SUN -N- STEP CLUB, SOLA ROAD,
AHMEDABAD, Gujarat - 380061, INDIA |
B28738896 |
|
4 |
10054076 |
24/01/2013 * |
9,437,000.00 |
BANK OF BARODA |
SOLA ROAD
BRANCH- A.P.M. SHOPPING MALL, OPP. SUN- N- STEP CLUB, SOLA ROAD,
AHMEDABAD, Gujarat - 380061, INDIA |
B68260272 |
Fixed Assets:
·
Office Equipments
·
Land and Building
·
Computer and Printers
·
Vehicles
·
Furniture and Fixtures
·
Plant and Machinery
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 records 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.61.05 |
|
|
1 |
Rs.99.55 |
|
Euro |
1 |
Rs.78.57 |
INFORMATION DETAILS
|
Information
Gathered by : |
DIP |
|
|
|
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
TRU |
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 |
6 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
5 |
|
--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 |
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 |
|
44 |
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.