MIRA
INFORM REPORT
|
Report Date : |
22.09.2014 |
IDENTIFICATION DETAILS
|
Name : |
ALL TIME PLASTICS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
B/30, Royal Industrial Estate, |
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Country : |
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Financials (as
on) : |
31.03.2013 |
|
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Date of
Incorporation : |
08.03.2001 |
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Com. Reg. No.: |
11-131139 |
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Capital Investment
/ Paid-up Capital : |
Rs.10.000 millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U25209MH2001PTC131139 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMA14515E |
|
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|
Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturing of Articles from Plastic. |
|
|
|
|
No. of Employees
: |
200 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (31) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate track record. The rating reflects moderate financial risk profile and huge
borrowings recorded by the company. However, trade relations are reported as fair. Business is active.
Payment 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.
INDIAN ECONOMIC OVERVIEW
India’s current account deficit for the fiscal third quarter ended
September 2013 narrowed to $4.2 billion or 0.9 % of the gross domestic product
from $31.9 billion or 6.5 % of GDP a year earlier, thanks to a pick-up in
exports and moderation in gold imports. Manufacturing activity and new orders
in India showed their strongest growth in a year in February. The news comes as
a relief after data showed Asia’s third largest economy grew by a
slower-than-expected 4.7 % annually in the three months through December. The
HSBC Manufacturing Purchasing Managers’ Index which gauges the business
activity of India’s factories but not its’ utilities, rose to 52.5 in February,
its highest in a year from 51.4 in January. Overall new orders for factory
goods which rose to a one-year high of 54.9 contributed to the surge. China has
emerged as India’s biggest trading partner in the current financial year
replacing the United Arab Emirates and pushing it to the third spot.
India-China trade has reached $49.5 billion with a 8.7 % share in India’s total
trade. The US comes second at $46 billion with 8.1 % share during the first
nine months of the current financial year.
The Reserve Bank of India has granted an additional nine months to the
public to exchange currency notes printed before 2005 including Rs 500 and Rs
1,000 denominations, pushing the deadline to January 1, 2015. A day before
dates for the Lok Sabha polls were announced, the government decided to hike
interest rates on fixed deposit schemes offered by post offices up to 0.2 per
cent. The new rates will be effective April, 1. The Supreme Court will resume
hearing on March, 11 Nokia’s appeal against a ruling over transferring
ownership of its local mobile phones plant which is the subject of a tax
dispute to Microsoft Corp.
In the last days of the current Government, another scam has surfaced.
The defence ministry has ordered a probe into Hindustan Aeronautics Limited’s
contracts from Britain’s Rolls-Royce Holdings worth at least $ 1.2 billion. The
Central Bureau of Investigation will look into allegations that over $80
million was paid in kickbacks in a deal signed in 2011. India has asked Boeing
Co. to find a solution for problems with state-owned Air India’s 787
Dreamliners. The aircraft has experienced a series of malfunctions since its
debut in 2011.
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 (GENERAL DETAILS)
|
Name : |
Mr. Hussain |
|
Designation : |
Accountant |
|
Contact No.: |
91-22-66208900 |
|
Date : |
19.07.2014 |
LOCATIONS
|
Registered Office : |
B/30, Royal Industrial Estate, Naigoan Cross Road, Wadala, Mumbai –
400 031, Maharashtra, India |
|
Tel. No.: |
91-22-66208900 |
|
Fax No.: |
91-22-66208999 / 66208900 |
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E-Mail : |
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Website : |
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|
Area : |
800 sq ft |
|
Location : |
Owned |
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|
Factory : |
Survey No.190/1/2, 190/1/1/2, 190/1/3, Gandhigram, Dokmardi-Kilvani
Road, Village: Amili, Silvassa – 396 230, Union Territory of Dadra and Nagar
Haveli, India |
|
Tel. No.: |
91-260-2630901/ 2630902 |
|
E-Mail : |
DIRECTORS
As on 30.09.2013
|
Name : |
Mr. Kailesh Punamchand Shah |
|
Designation : |
Director |
|
Address : |
1502, Spring Tower, GD Ambedkar Marg, Dadar (East), Mumbai – 400 014,
Maharashtra, India |
|
Date of Birth/Age : |
04.06.1962 |
|
Date of Appointment : |
08.03.2001 |
|
DIN No.: |
00268442 |
|
Voter ID No.: |
MT/06/033/016061 |
|
|
|
|
Name : |
Mr. Bhupesh Punamchand Shah |
|
Designation : |
Director |
|
Address : |
Flat 502, Pranav Residency, Bhimani Street, Matunga (East), Mumbai –
400 019, Maharashtra, India |
|
Date of Birth/Age : |
04.04.1964 |
|
Date of Appointment : |
08.03.2001 |
|
DIN No.: |
00281295 |
|
Voter ID No.: |
MT/06/033/016062 |
|
|
|
|
Name : |
Mr. Nilesh Punamchand Shah |
|
Designation : |
Director |
|
Address : |
702, Rustom Villa, Parsi Colony, Dr. Ghani Road, Dadar, Mumbai – 400
014, Maharashtra, India |
|
Date of Birth/Age : |
29.09.1965 |
|
Date of Appointment : |
08.03.2001 |
|
DIN No.: |
00281407 |
|
Voter ID No.: |
MT/06/033/093253 |
KEY EXECUTIVES
|
Name : |
Mr. Hussain |
|
Designation : |
Accountant |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2013
|
Names of Shareholders |
|
No. of Shares |
|
Vasanti Punamchand Shah |
|
252700 |
|
Kailesh Punamchand Shah |
|
249000 |
|
Bhupesh Punamchand Shah |
|
249000 |
|
Nilesh Punamchand Shah |
|
249000 |
|
Rupal Kailesh Shah |
|
100 |
|
Kajal Bhupesh Shah |
|
100 |
|
Sangeeta Nilesh Shah |
|
100 |
|
|
|
|
|
Total |
|
1000000 |
As on 30.09.2013
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Directors
or relatives of directors |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing of Articles from Plastic. |
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Products : |
v Containers v Material Handling v Bathware v Tea and Juice Strainers v Tableware and Serve ware v Kitchen aids and Home Utility v Hangers v Cutting Boards v Bulk Storage |
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Exports : |
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Products : |
v
Plastic Products |
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Countries : |
v
Gulf Countries v
Europe v
US v
Middle East |
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|
Imports : |
|
|
Products : |
v
Raw Materials |
|
Countries : |
v
Gulf Countries v
Singapore v
Malaysia |
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Terms : |
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Selling : |
Cash and Credit |
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Purchasing : |
Cash and Credit |
GENERAL INFORMATION
|
Customers : |
End Users |
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No. of Employees : |
200 (Approximately) |
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Bankers : |
v
DBS Bank Limited, 221, Fort House , 3rd
Floor, D.N. Road, Fort, Mumbai – 400 001, Maharashtra, India (Contact No.:
91-22-66388888) v
DBS
Bank Limited, Singapore |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
Mihir Shah and Associates Chartered Accountants |
|
Address : |
B-11, 1st Floor, Royal Industrial Estate, Sewree Wadala Roda
No.26, Wadala, Mumbai – 400031, Maharashtra, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AAKPS3076Q |
|
Tel.
No.: |
91-22-24166068 / 72 |
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Entities in which Key Management Personnel/ Relatives have significant
influence : |
Pyramid Plastics
Address: B/30, Royal Industrial Estate, Naigoan Cross Road, Wadala, Mumbai – 400 031, Maharashtra, India Line of Business: Manufacturing of Articles from Plastic. |
CAPITAL STRUCTURE
As on 30.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
1000000 |
Equity Shares |
Rs.10/- each |
Rs.10.000 millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
1000000 |
Equity Shares |
Rs.10/- each |
Rs.10.000 millions |
|
|
|
|
|
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 |
10.000 |
10.000 |
10.000 |
|
(b) Reserves & Surplus |
51.566 |
44.490 |
40.196 |
|
(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) |
61.566 |
54.490 |
50.196 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
177.585 |
192.390 |
215.300 |
|
(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) |
177.585 |
192.390 |
215.300 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
43.217 |
2.418 |
22.511 |
|
(b) Trade payables |
54.252 |
48.261 |
20.465 |
|
(c) Other current liabilities |
35.652 |
33.796 |
10.729 |
|
(d) Short-term provisions |
3.139 |
0.014 |
0.000 |
|
Total
Current Liabilities (4) |
136.260 |
84.489 |
53.705 |
|
|
|
|
|
|
TOTAL |
375.411 |
331.369 |
319.201 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
248.333 |
242.278 |
242.703 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital work-in-progress |
1.122 |
2.007 |
27.996 |
|
(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) |
(4.321) |
4.214 |
0.000 |
|
(d) Long-term Loan and Advances |
5.625 |
2.786 |
0.459 |
|
(e) Other Non-current assets |
0.143 |
0.075 |
0.040 |
|
Total
Non-Current Assets |
250.902 |
251.360 |
271.198 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
78.198 |
62.835 |
47.051 |
|
(c) Trade receivables |
38.257 |
13.489 |
0.000 |
|
(d) Cash and cash equivalents |
2.944 |
0.959 |
0.551 |
|
(e) Short-term loans and
advances |
5.110 |
2.726 |
0.401 |
|
(f) Other current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
124.509 |
80.009 |
48.003 |
|
|
|
|
|
|
TOTAL |
375.411 |
331.369 |
319.201 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
NA |
NA |
NA |
|
|
|
Other Income |
NA |
NA |
NA |
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
Less |
TOTAL EXPENSES |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
Less |
TAX |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
7.076 |
4.294 |
(5.241) |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Sales |
515.846 |
394.241 |
0.000 |
|
|
TOTAL EARNINGS |
515.846 |
394.241 |
0.000 |
|
|
|
|
|
|
|
|
|
|
Earnings/ (Loss)
Per Share (Rs.) |
4.29 |
(5.24) |
(5.24) |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
Debt Equity Ratio (Total Debt/Networth) |
|
3.59
|
3.58
|
4.74 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.91
|
0.95
|
0.89 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(INR
in Mlns.) |
(INR
in Mlns.) |
(INR
in Mlns.) |
|
Share Capital |
10.000 |
10.000 |
10.000 |
|
Reserves & Surplus |
40.196 |
44.490 |
51.566 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
50.196 |
54.490 |
61.566 |
|
|
|
|
|
|
long-term borrowings |
215.300 |
192.390 |
177.585 |
|
Short term borrowings |
22.511 |
2.418 |
43.217 |
|
Total
borrowings |
237.811 |
194.808 |
220.802 |
|
Debt/Equity
ratio |
4.738 |
3.575 |
3.586 |
LOCAL AGENCY FURTHER INFORMATION
DETAILS OF CURRENT
MATURITIES OF LONG TERM DEBT: 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 |
Yes |
|
9] |
Name of
person contacted |
Yes |
|
10] |
Designation
of contact person |
Yes |
|
11] |
Turnover of firm
for last three years |
No |
|
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 |
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 |
Yes |
|
34] |
External
Agency Rating, if available |
No |
UNSECURED LOANS
|
Particulars |
31.03.2013 (Rs. in Millions) |
31.03.2012 (Rs. in Millions) |
|
LONG TERM BORROWINGS |
|
|
|
Loans and
Advances from related parties |
90.085 |
74.890 |
|
Total |
90.085 |
74.890 |
FIXED ASSETS:
Tangible Assets (Owned)
v Land
v Building
v Plant and Machinery
v Computer Hardware
v Furniture and Fixtures
v Office Equipment
v Vehicles
Intangible Assets (Acquired)
v Computer Software
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts, India Prisons Service,
Interpol, etc.
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.60.81 |
|
UK Pound |
1 |
Rs.100.06 |
|
Euro |
1 |
Rs.78.47 |
INFORMATION DETAILS
|
Information
Gathered by : |
PRT |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
DPH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--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 |
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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
31 |
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.