MIRA
INFORM REPORT
|
Report Date : |
22.09.2014 |
IDENTIFICATION DETAILS
|
Name : |
GOA MINERALS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Salgaocar House, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
21.12.1982 |
|
|
|
|
Com. Reg. No.: |
11-000515 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 0.202 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U11201GA1982PTC000515 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Sponge Iron. |
|
|
|
|
No. of Employees
: |
30 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (29) |
|
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 |
|
|
|
|
Litigation : |
Exist |
|
|
|
|
Comments : |
Subject is an established company having moderate track record. Management has reported a loss from its operation along with huge
gearing during FY13. However, trade relations seem to be fair. Business is active. Payment
terms are reported as slow but correct. In view of deteriorating liquidity profile, the company can be
considered for business dealings with caution. |
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. Sudheer |
|
Designation : |
Project manager |
|
Contact No.: |
91-9900062131 |
|
Date : |
19.09.2014 |
LOCATIONS
|
Registered Office : |
Salgaocar House, F L Gomes Road, Vasco Da Gama, Goa – 403802,
Maharashtra, India |
|
Tel. No.: |
Not Available |
|
Mobile No.: |
91-9900062131 (Mr. Sudheer) |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
|
|
|
Factory : |
Plot 362-462, Belur Taluqa Kidb Belur Industrial Area Dharwad,
Karnataka 580011, India |
|
Tel. No.: |
91-836-2008018 |
DIRECTORS
As on: 11.09.2013
|
Name : |
Mr. Salgaocar V. Shivanand |
|
Designation : |
Director |
|
Address : |
Hira Vihar Road, Chicalim, Mormugao, South Goa – 403711, Maharashtra,
India |
|
Date of Birth/Age : |
24.07.1954 |
|
Date of Appointment : |
16.04.1990 |
|
DIN No.: |
00001402 |
|
|
|
|
Name : |
Mr. Salgaocar V. Dattaraj |
|
Designation : |
Director |
|
Address : |
Hira Vihar House No. 278, Chicalim, Mormugao, South Goa – 403711,
Maharashtra, India |
|
Date of Birth/Age : |
23.05.1957 |
|
Date of Appointment : |
16.04.1990 |
|
DIN No.: |
00105209 |
KEY EXECUTIVES
|
Name : |
Mr. Sudheer |
|
Designation : |
Project manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 11.09.2013
|
Names of Shareholders |
|
No. of Shares |
|
Salgaocar V. Dattaraj |
|
6 |
|
Salgaocar V. Shivanand |
|
6 |
|
Salgaocar Holding Private Limited, India |
|
990 |
|
Salgaocar Real Estate and Properties Private Limited, India |
|
990 |
|
Salgaocar V. Shivanand |
|
4 |
|
Salgaocar V. Dattaraj |
|
4 |
|
V. M. Salgaocar and Brother Private Limited, India |
|
20 |
|
|
|
|
|
Total |
|
2020 |
Equity Share Break up (Percentage of Total Equity)
As on: 11.09.2013
|
Category |
|
Percentage |
|
|
|
|
|
Bodies corporate |
|
99.00 |
|
Directors or relatives of directors |
|
1.00 |
|
|
|
|
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Sponge Iron. |
|
|
|
|
Terms : |
|
|
Selling : |
L/C, Cheque, Credit |
|
|
|
|
Purchasing : |
L/C, Cheque, Credit |
GENERAL INFORMATION
|
No. of Employees : |
30 (Approximately) |
|
|
|
|
Bankers : |
Not Available |
|
|
|
|
Facilities : |
-- |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
S J Thaly and Company Chartered Accountants |
|
Address : |
112, Govinda Building, M. G. Road, Panji, Goa – 403001, Maharashtra,
India |
|
Tel. No.: |
91-832-2422543 / 2228223 |
|
Fax No.: |
91-832-2228223 |
|
E-Mail : |
|
|
PAN No.: |
AAFFS8177H |
|
|
|
|
Subsidiaries : |
· Great Lake Finance and Leasing Private Limited ·
Berkshire Real Estate Private Limited |
|
|
|
|
Related Party : |
· Aero Mundial · Aero Mundial Private Limited · Amona Shipyard Private Limited · Goa Iron and Steel Private Limited · Greenhills Developers and Builders Private Limited · Mahadhan Real Estates LLP · Hotel La Paz Gardens Private Limited · Roclanetal Engineers Private Limited · Salgaow Heavy Industries Private Limited · Salgaocar Leasing and Credit Co. Private Limited · Salgaocar Metals and Minerals Private Limited · Saigaocar Minerals and Ores Private Limited · V. M. Salgaocar and Brother Private Limited ·
V. M. Salgaocar Sales International |
CAPITAL STRUCTURE
As on: 11.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5000 |
Equity Shares |
Rs.100/- each |
Rs. 0.500 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2020 |
Equity Shares |
Rs.100/- each |
Rs. 0.202 Million
|
|
|
|
|
|
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 |
0.202 |
0.202 |
0.202 |
|
(b) Reserves & Surplus |
96.307 |
142.809 |
140.600 |
|
(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) |
96.509 |
143.011 |
140.802 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term
borrowings |
720.000 |
420.000 |
20.000 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long
term liabilities |
19.342 |
26.549 |
34.505 |
|
(d) long-term
provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
739.342 |
446.549 |
54.505 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
0.000 |
0.000 |
0.000 |
|
(b)
Trade payables |
73.978 |
83.209 |
70.956 |
|
(c)
Other current liabilities |
47.029 |
31.141 |
41.999 |
|
(d) Short-term
provisions |
3.275 |
4.257 |
3.173 |
|
Total Current
Liabilities (4) |
124.282 |
118.607 |
116.128 |
|
|
|
|
|
|
TOTAL |
960.133 |
708.167 |
311.435 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
121.371 |
110.642 |
118.069 |
|
(ii) Intangible
Assets |
0.000 |
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
603.887 |
318.342 |
41.911 |
|
(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) |
5.879 |
6.196 |
6.048 |
|
(d) Long-term Loan and Advances |
16.110 |
25.338 |
36.128 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
747.247 |
460.518 |
202.156 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
3.204 |
10.723 |
5.901 |
|
(c)
Trade receivables |
26.808 |
69.885 |
29.619 |
|
(d) Cash
and cash equivalents |
158.135 |
141.519 |
53.867 |
|
(e)
Short-term loans and advances |
19.871 |
23.177 |
19.892 |
|
(f)
Other current assets |
4.868 |
2.345 |
0.000 |
|
Total
Current Assets |
212.886 |
247.649 |
109.279 |
|
|
|
|
|
|
TOTAL |
960.133 |
708.167 |
311.435 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL |
98.528 |
204.806 |
242.879 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
136.818 |
193.957 |
239.937 |
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
(38.290) |
10.849 |
2.942 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
7.895 |
8.315 |
9.069 |
|
|
|
|
|
|
|
|
|
|
PROFIT /
(LOSS)BEFORE TAX |
(46.185) |
2.534 |
(6.127) |
|
|
|
|
|
|
|
|
|
Less |
TAX |
0.317 |
0.324 |
(0.793) |
|
|
|
|
|
|
|
|
|
|
PROFIT /
(LOSS)AFTER TAX |
(46.502) |
2.210 |
(5.334) |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
142.810 |
140.600 |
145.934 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
96.308 |
142.810 |
140.600 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
(23020.79) |
1094.06 |
NA |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
(47.20) |
1.08 |
(2.20) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(13.18) |
0.66 |
(2.33) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.48) |
0.02 |
(0.04) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
7.46 |
2.94 |
0.14 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.71 |
2.09 |
0.94 |
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 |
0.202 |
0.202 |
0.202 |
|
Reserves & Surplus |
140.600 |
142.809 |
96.307 |
|
Net worth |
140.802 |
143.011 |
96.509 |
|
|
|
|
|
|
long-term borrowings |
20.000 |
420.000 |
720.000 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Total borrowings |
20.000 |
420.000 |
720.000 |
|
Debt/Equity ratio |
0.142 |
2.937 |
7.460 |
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) |
|
Total Income |
242.879 |
204.806 |
98.528 |
|
|
|
(15.676) |
(51.892) |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs. In Millions) |
(Rs. In Millions) |
(Rs. In Millions) |
|
Total Income |
242.879 |
204.806 |
98.528 |
|
Profit |
(5.334) |
2.210 |
(46.502) |
|
|
(2.20)% |
1.08% |
(47.20)% |
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 |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
Yes |
|
20] |
Export / Import details (if applicable) |
No |
|
21] |
Market information |
-- |
|
22] |
Litigations that the firm / promoter involved in |
Yes |
|
23] |
Banking Details |
No |
|
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 |
CASE DETAILS
|
Reg. No. :- TXA / 26 / 2009 |
Stamp No. :- STM / 2117 / 2009 |
|
Case Status : |
Pending (Final Hearing) |
|
Petitioner : |
THE COMMISSIONER OF INCOME TAX |
|
Respondent : |
GOA MINERALS PRIVATE LIMITED |
|
Petitoner
Adv. : |
ADV. ASHA A. DESAI |
|
Respondent
Adv. : |
SHRI. AGNEL F. DINIZ FOR RES |
|
District : |
South Goa |
|
Bench : |
Division |
|
Act : |
Income Tax Act, 1961 |
|
Category : |
Income Tax Appeal |
|
Case Stage : |
FOR FINAL HEARING - HIGH ON BOARD |
|
Hearing Date : |
29 September 2014 |
|
Application Maters |
Connected Maters |
|
No application
matters |
WP / 559 / 2004 WP / 49 / 2006 WP / 48 / 2006 WP / 616 / 2003 WP / 616 / 2006 TXA / 1 / 2010 TXA / 26 / 2009 |
|
This Case is updated on : 03 September 2014 |
|
UNSECURED LOAN
(Rs.
In Millions)
|
Particulars |
As on 31.03.2013 |
As on 31.03.2012 |
|
LONG TERM
BORROWINGS |
|
|
|
From Related Parties |
720.000 |
420.000 |
|
|
|
|
|
Total |
720.000 |
420.000 |
Note: No Charges Exist for Company
FIXED ASSETS
·
Land
·
Buildings
·
Plant and Machinery
·
Furniture and Fixture
·
Office Equipment’s
·
Vehicle
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. 60.81 |
|
|
1 |
Rs. 100.06 |
|
Euro |
1 |
Rs. 78.47 |
INFORMATION DETAILS
|
Information
Gathered by : |
HTL |
|
|
|
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
DPH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
YES |
|
--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 |
|
29 |
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.