MIRA
INFORM REPORT
|
Report Date : |
22.09.2014 |
IDENTIFICATION DETAILS
|
Name : |
SAAMA TECHNOLOGIES ( |
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Registered
Office : |
Unit No.101-102, 1st Floor, Weikfield IT |
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Country : |
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Financials (as
on) : |
31.03.2013 |
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Date of
Incorporation : |
08.07.1999 |
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Com. Reg. No.: |
11-139628 |
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Capital Investment
/ Paid-up Capital : |
Rs. 2.075 Millions |
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CIN No.: [Company Identification
No.] |
U72200PN1999PTC139628 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
MUMS02513A |
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PAN No.: [Permanent Account No.] |
AAACF3562F |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Providing IT Services. |
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No. of Employees
: |
300 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (47) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 800000 |
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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 record. 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 |
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Moderate |
B1 |
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High |
B2 |
|
Very High |
C1 |
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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 willfully 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. Somnath |
|
Designation : |
Accounts Manager |
|
Contact No.: |
91-20-66071500 |
|
Date : |
22.09.2014 |
LOCATIONS
|
Registered Office : |
Unit No.101-102, 1st Floor, Weikfield IT Citi Info Park, Weikfield
Estates, Pune-Nagar Road, Pune – 411014, Maharashtra, India |
|
Tel. No.: |
91-20-66071500 |
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Fax No.: |
91-20-66071501 |
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E-Mail : |
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Website : |
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Branch Offices : |
Located at: · USA Switzerland London |
DIRECTORS
AS ON 30.09.2013
|
Name : |
Mr. Rajeev Hasmukhrai Dadia |
|
Designation : |
Director |
|
Address : |
1, Amrut Hansoti
Road, Cama Lane, Ghatkopar (West), Mumbai – 400086, Maharashtra, India |
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Date of Birth/Age : |
29.07.1971 |
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Date of Appointment : |
08.07.1999 |
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DIN No.: |
00050660 |
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|
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Name : |
Mr. Sureshbabu Nanjundaiah Katta |
|
Designation : |
Director |
|
Address : |
18710, Withey
Road, Los Gatos CA 95030‐4149, Los Gatos Ca. Los Gatos CA, 95030,
United States of America |
|
Date of Birth/Age : |
15.06.1958 |
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Date of Appointment : |
11.04.2000 |
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DIN No.: |
01327458 |
KEY EXECUTIVES
|
Name : |
Mr. Somnath |
|
Designation : |
Accounts Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2013
|
Names of Shareholders |
No. of Shares |
Percentage of Holding |
|
Saama Technologies Inc |
206535 |
99.52 |
|
Saama Technologies Inc [Nominee Suresh Katta] |
1000 |
0.48 |
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|
|
|
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Total |
207535 |
100.00 |
%20PRIVATE%20LIMITED%20-%20286856%2022-Sep-2014_files/image002.gif)
AS ON 30.09.2013
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
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Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
100.00 |
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|
|
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Providing IT Services. |
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Terms : |
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Selling : |
Cash and Credit |
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Purchasing : |
Cash and Credit |
GENERAL INFORMATION
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Customers : |
Others |
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No. of Employees : |
300 (Approximately) |
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Bankers : |
· HDFC Bank Limited HDFC Bank House, Senapati Bapat Marg, Lower Parel [West], Mumbai - 400013, Maharashtra, India · HDFC Bank Limited Weikfield Estates Nagar Road, Pune, Maharashtra, India · Bank of India Citibank Kotak Mahindra Bank Limited |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
CSM and Associates Chartered Accountants |
|
Address : |
3, Konark Apartments, 175, Dhole Patil Road, Pune – 411001,
Maharashtra, India |
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Income-tax
PAN of auditor or auditor's firm : |
AAEFC9612Q |
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Holding Company : |
Saama Technologies Inc., USA |
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Group Company : |
Saama Technologies UK Limited, UK |
CAPITAL STRUCTURE
AS ON 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1,000,000 |
Equity Shares |
Rs. 10/- each |
Rs. 10.000 Millions |
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|
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
207,535 |
Equity Shares |
Rs. 10/- each |
Rs. 2.075 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 |
|
|
|
|
(a) Share Capital |
2.075 |
2.075 |
2.075 |
|
(b) Reserves & Surplus |
198.137 |
111.533 |
62.591 |
|
(c) Money received against share warrants |
0.000 |
0.000 |
0.000 |
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|
|
|
|
|
(2) Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Total Shareholders’
Funds (1) + (2) |
200.212 |
113.608 |
64.666 |
|
|
|
|
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|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(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 |
11.984 |
8.889 |
4.796 |
|
Total Non-current
Liabilities (3) |
11.984 |
8.889 |
4.796 |
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|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
25.740 |
7.544 |
2.102 |
|
(b) Trade
payables |
2.141 |
3.945 |
3.171 |
|
(c)
Other current liabilities |
9.395 |
7.781 |
0.820 |
|
(d) Short-term
provisions |
5.228 |
4.454 |
1.984 |
|
Total Current
Liabilities (4) |
42.504 |
23.724 |
8.077 |
|
|
|
|
|
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TOTAL |
254.700 |
146.221 |
77.539 |
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|
|
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II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
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(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
23.375 |
22.492 |
18.868 |
|
(ii)
Intangible Assets |
4.945 |
6.920 |
3.768 |
|
(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 |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
3.841 |
3.377 |
0.000 |
|
(d) Long-term Loan and Advances |
0.000 |
0.000 |
0.000 |
|
(e) Other Non-current
assets |
12.851 |
7.013 |
7.013 |
|
Total Non-Current
Assets |
45.012 |
39.802 |
29.649 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
0.000 |
0.000 |
0.000 |
|
(c) Trade
receivables |
124.897 |
76.178 |
40.663 |
|
(d) Cash
and cash equivalents |
77.010 |
24.693 |
2.939 |
|
(e)
Short-term loans and advances |
0.046 |
0.038 |
0.092 |
|
(f)
Other current assets |
7.735 |
5.510 |
4.196 |
|
Total
Current Assets |
209.688 |
106.419 |
47.890 |
|
|
|
|
|
|
TOTAL |
254.700 |
146.221 |
77.539 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from Operations |
364.507 |
254.651 |
165.378 |
|
|
|
Other Income |
9.805 |
6.580 |
0.454 |
|
|
|
TOTAL |
374.312 |
261.231 |
165.832 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
237.565 |
189.973 |
150.007 |
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
136.747 |
71.258 |
15.825 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
50.144 |
22.315 |
4.352 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
86.603 |
48.943 |
11.473 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Sale of Services |
358.663 |
250.787 |
156.364 |
|
|
|
Reimbursement of Expenses |
10.519 |
5.348 |
2.733 |
|
|
TOTAL EARNINGS |
369.182 |
256.135 |
159.097 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
417.29 |
235.83 |
55.28 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
23.14 |
18.74 |
6.92 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
37.52 |
27.98 |
9.57 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
54.51 |
49.89 |
20.41 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.68 |
0.63 |
0.24 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.13 |
0.07 |
0.03 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
4.93 |
4.49 |
5.93 |
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 |
2.075 |
2.075 |
2.075 |
|
Reserves & Surplus |
62.591 |
111.533 |
198.137 |
|
Net
worth |
64.666 |
113.608 |
200.212 |
|
|
|
|
|
|
Long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
2.102 |
7.544 |
25.740 |
|
Total
borrowings |
2.102 |
7.544 |
25.740 |
|
Debt/Equity ratio |
0.033 |
0.066 |
0.129 |
%20PRIVATE%20LIMITED%20-%20286856%2022-Sep-2014_files/image004.gif)
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 |
165.378 |
254.651 |
364.507 |
|
|
|
53.981 |
43.140 |
%20PRIVATE%20LIMITED%20-%20286856%2022-Sep-2014_files/image006.gif)
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 |
165.378 |
254.651 |
364.507 |
|
Profit |
11.473 |
48.943 |
86.603 |
|
|
6.94% |
19.22% |
23.76% |
%20PRIVATE%20LIMITED%20-%20286856%2022-Sep-2014_files/image008.gif)
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 |
-- |
|
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 |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
10243508 |
29/09/2010 |
3,500,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSE, SENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, MAHARASHTRA - 400013, INDIA |
A96136817 |
CHANGE OF ADDRESS:
The Registered Office of the company has been shifted from AG-1, Amrut Hansotia
Road, Cama Lane, Ghatkopar [West], Mumbai – 400086, Maharashtra, India to the
present address w.e.f.13.04.2011.
COMPANY OVERVIEW
Subject incorporated under the Companies Act, 1956, was set up as an
offshore center in India. It is engaged in providing software services to Saama
Group Companies as well as independent third party customers. The software
services are provided through its undertaking at Pune, which is registered
under the Software Technology Park Scheme.
Subject is the 100% holding company for the Saama Technologies (India)
Private Limited.
FIXED ASSETS:
· Computers
Networking
Equipment
Plant
and Machinery
Furniture
and Fixture
Air
Conditioner
Office
Equipment
Computer
Software
PRESS RELEASE
SAAMA TECH EXPANDS
INDIA OPERATIONS
PUNE, FEB
1:
Campbell, California-based business analytics solutions and services
company, Saama Technologies, has expanded its presence in India by opening a
second office in Pune.
The new centre will accommodate about 200 professionals, and will
deliver a full range of business analytics and data management applications,
business intelligence managed services and our intellectual property (IP) led
solutions to global clients in the financial services, healthcare, insurance,
high technology, media and retail industries.
Saama is also increasing its global presence by adding two more branch
offices in the US. With this, the company has seven offices around the globe.
“With $50 million revenue in year 2012 and expected to reach $100
million in the next two years, these expansions will help us accelerate Saama
growth,” Suresh Katta, Chief People Officer, said.
Saama started operations at Pune in October 2004 to provide data management
services to global clients, and has since grown its presence, with more than
300 professionals delivering a broad range of services from the company’s
existing facility.
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 : |
PRT |
|
|
|
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
BVA |
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 |
6 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTERS |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
47 |
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.