MIRA INFORM REPORT

 

 

Report No. :

314317

Report Date :

01.04.2015

 

IDENTIFICATION DETAILS

 

Name :

NANDAN GROUND SUPPORT EQUIPMENT PRIVATE LIMITED

 

 

Registered Office :

C-15, Nanddham Industrial Estate, Marol Maroshi Road, Andheri (East), Mumbai – 400059, Maharashtra

 

 

Country :

India

 

 

Financials (as on) :

31.03.2014

 

 

Date of Incorporation :

18.09.2002

 

 

Com. Reg. No.:

11-137255

 

 

Capital Investment / Paid-up Capital :

Rs.9.105 Million

 

 

CIN No.:

[Company Identification No.]

U29200MH2002PTC137255

 

 

IEC No.:

0305048775

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

MUMN12703F

 

 

PAN No.:

[Permanent Account No.]

AABCN6540Q

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Manufacturer and Exporter of Ground Handling Equipments and Airport Equipments.

 

 

No. of Employees :

150 (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

 

Maximum Credit Limit :

USD 74000

 

 

Status :

Moderate

 

 

Payment Behaviour :

Slow but correct

 

 

Litigation :

Clear

 

 

Comments :

Subject is an established company having moderate track record.

 

There seems sharp dip in the profit of the company FY 2014. Borrowings recorded by the company are huge which may further act as a threat to the liquidity position of 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.

 

ECGC Country Risk Classification List – December 31, 2014

 

Country Name

Previous Rating

(30.09.2014)

Current Rating

(31.12.2014)

India

A1

A1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

EXTERNAL AGENCY RATING

 

Not Available

 

 

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. K. R. Acharya

Designation :

Vice President

Contact No.:

91-8080273134

Date :

28.03.2015

 

 

LOCATIONS

 

Registered Office :

C – 15, Nanddham Industrial Estate, Marol Maroshi Road, Andheri (East), Mumbai – 400059, Maharashtra, India

Tel. No.:

91-22-29206582

Mobile No.:

91-8080273134 (Mr. Acharya)

91-8080273133 (Mr. Raghunandan)

Fax No.:

91-22-66936878

E-Mail :

info@nandan-india.com

Website :

http://www.nandan.co.in

 

 

Factory 1 :

D – 205, MIDC Turbhe TTC Industrial Area, Navi Mumbai – 400705, Maharashtra, India

Tel. No.:

91-22-27635508/ 09/ 10

Fax No.:

91-22-27635510

E-Mail :

sales@nandangse.com

Location :

Owned

 

 

Factory 2:

Gate No. 196, Dekhu Village, Khalapur, Industrial Area, District Raigad, Maharashtra, India

 

 

DIRECTORS

 

AS ON 06.07.2014

 

Name :

Mr. Jagdish Chandra Kumar Bhat

Designation :

Managing Director

Address :

2A/ 301, Ashok Nagar, Military Road, Marol, Andheri (East), Mumbai – 400 072, Maharashtra, India

Date of Birth/Age :

08.07.1948

Date of Appointment :

18.09.2002

DIN No.:

00245153

 

 

Name :

Mr. Raghunandan Jagadish Bhat

Designation :

Director

Address :

2A/ 301, Ashok Nagar, Military Road, Marol, Andheri (East), Mumbai – 400 072, Maharashtra, India

Date of Birth/Age :

03.08.1979

Date of Appointment :

18.09.2002

DIN No.:

00245259

 

 

Name :

Ms. Smitha Jagdish Chandra Bhat

Designation :

Director

Address :

2A/ 301, Ashok Nagar, Military Road, Marol, Andheri (East), Mumbai – 400 072, Maharashtra, India

Date of Birth/Age :

02.10.1981

Date of Appointment :

18.09.2002

DIN No.:

00245232

 

 

KEY EXECUTIVES

 

Name :

Mr. K. R. Acharya

Designation :

Vice President

 

 

 

MAJOR SHAREHOLDERS

 

AS ON 06.07.2014

 

Names of Shareholders

 

No. of Shares

% of Holding

Jagdish Chandra Kumar Bhat

49350

75.34

Raghunandan J. Bhat

14350

21.91

Smitha J. Bhat

1800

2.75

 

 

 

Total

65500

100.00

 

 

 

Equity Share Break up (Percentage of Total Equity)

 

AS ON 06.07.2014

 

Category

 

Percentage

Directors or relatives of Directors

100.00

 

 

BUSINESS DETAILS

 

Line of Business :

Manufacturer and Exporter of Ground Handling Equipments and Airport Equipments.

 

 

Products :

·         Aviation Ground Support Equipment (GSE) 

·         Material Handling Equipment           

·         Defense Systems              

·         Car Parking Solutions

·         Aerial Access Equipment    

·         Car Parking Solutions         

·         Specialized Body Building  

 

Item Code No. (ITC Code)

0107

Product Description

Hydraulic Lifts

 

 

Brand Names :

Not Divulged

 

 

Agencies Held :

Not Divulged

 

 

Exports :

 

Products :

·         Ground Handling Equipments

·         Airport Equipments.

Countries :

Worldwide

 

 

Imports :

Not Divulged

 

 

Terms :

 

Selling :

Cash, Credit

 

 

Purchasing :

Cash, Credit

 

 

PRODUCTION STATUS – NOT AVAILABLE

 

 

GENERAL INFORMATION

 

Suppliers :

Company Name :

Not Divulged

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Maximum Limit Dealt :

Not Divulged

Experience :

Not Divulged

Remark :

Not Divulged

 

 

Customers :

Company Name :

Not Divulged

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Maximum Limit Dealt :

Not Divulged

Experience :

Not Divulged

Remark :

Not Divulged

 

 

No. of Employees :

150 (Approximately)

 

 

Bankers :

Banker Name :

Yes Bank Limited

Branch :

9th Floor, Nehru Centre, Discovery of India, Dr. Annie Besant Road, Worli, Mumbai – 400018, Maharashtra, India

Person Name (With Designation) :

Not Divulged

Contact Number :

Not Divulged

Name of Account Holder :

Not Divulged

Account Number :

Not Divulged

Account Since (Date/Year of Account Opening) :

Not Divulged

Average Balance Maintained :

Not Divulged

Credit Facilities Enjoyed (CC/OD/Term Loan) :

Not Divulged

Account Operation :

Not Divulged

Remark :

Not Divulged

 

·         State Bank of India, Small and Medium Enterprises City Credit Cell, Bandra Kurla Complex, Bandra (East), Mumbai – 400051, Maharashtra, India

 

·         NKGSB Co-Operative Bank Limited, Wadala Branch, Gala No. A-9, Royal Industrial, Estate, Naigaon Cross Road, Wadala, Mumbai – 400031, Maharashtra, India

 

 

 

 

Facilities :

SECURED LOANS

31.03.2014

Rs. In Million

31.03.2013

Rs. In Million

Long Term Borrowings

 

 

NKGSB Co-Operative Bank Limited – Term loan A/c -20

0.522

0.599

Yes Bank Limited – Term loan A/c -1

2.033

4.552

Fullarton India – Term loan -1

20.595

0.000

Axis Bank Limited – Vehicle loan A/c

0.307

0.000

Yes Bank Limited – Term loan A/c -4

0.853

1.206

Punjab National Bank – Housing loan

3.541

3.662

ICICI Bank Limited – Vehicle loan

0.110

0.304

 

 

 

Short Term Borrowings

 

 

Yes Bank Limited – CC A/c

36.096

42.362

NKGSB Co-Operative Bank Limited – Term loan A/c -20 payable within a year

0.130

0.268

Fullarton India – Term loan -1 payable within a year

0.711

0.000

Axis Bank Limited – Vehicle loan - payable within a year

0.156

0.000

Yes Bank Limited – Term loan A/c -1 payable within a year

3.494

4.070

Yes Bank Limited – Term loan A/c -4 payable within a year

0.581

0.676

Punjab National Bank – Housing loan payable within a year

0.121

0.000

Tata Mtors Finance – Vehicle loan -payable within a year

0.000

0.082

ICICI Bank Limited – Vehicle loan -payable within a year

0.245

0.272

Yes Bank Limited - PCFC

5.875

0.000

Temporary OD with Yes Bank Limited

1.897

2.775

 

 

 

Total

77.267

60.828

 

 

 

Auditors :

 

Name :

UDS Associates

Chartered Accountants

Address :

210, Rizvi Chambers 1, Hill Road, Bandra (West), Mumbai – 400072, Maharashtra, India

Tel No.:

91-22-66680718

Fax No.:

91-22-66680721

PAN No.:

AACFU3340D

 

 

Membership :

--

 

 

Companies in which key management person or his relatives have substantial interest :

·         Nandan Enterprises

·         Nandan Equipment Services

·         Nandan Equipment Services Private Limited

 

 

CAPITAL STRUCTURE

 

AS ON 06.07.2014

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

100000

Equity Shares

Rs.100/- each

Rs.10.000 Million

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

91050

Equity Shares

Rs.100/- each

Rs.9.105 Million

 

 

 

 

 

FINANCIAL DATA

[all figures are in Rupees Million]

 

ABRIDGED BALANCE SHEET

 

SOURCES OF FUNDS

 

31.03.2014

31.03.2013

31.03.2012

I.              EQUITY AND LIABILITIES

 

 

 

(1)Shareholders' Funds

 

 

 

(a) Share Capital

9.105

9.105

6.550

(b) Reserves & Surplus

16.916

16.408

11.201

(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)

26.021

25.513

17.751

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

29.086

10.323

10.600

(b) Deferred tax liabilities (Net)

0.323

0.274

0.299

(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)

29.409

10.597

10.899

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

50.109

50.505

36.653

(b) Trade payables

19.872

29.899

30.784

(c) Other current liabilities

25.122

15.310

19.633

(d) Short-term provisions

0.000

0.000

0.000

Total Current Liabilities (4)

95.103

95.714

87.070

 

 

 

 

TOTAL

150.533

131.824

115.720

 

 

 

 

II.            ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

26.129

27.553

20.892

(ii) Intangible Assets

0.334

0.557

0.292

(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

0.225

0.225

0.200

(c) Deferred tax assets (net)

0.000

0.000

0.000

(d)  Long-term Loan and Advances

0.000

0.000

0.000

(e) Other Non-current assets

0.000

0.000

0.000

Total Non-Current Assets

26.688

28.335

21.384

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

85.634

58.343

59.428

(c) Trade receivables

20.999

33.355

26.957

(d) Cash and cash equivalents

2.456

1.300

2.009

(e) Short-term loans and advances

14.388

10.033

5.584

(f) Other current assets

0.368

0.458

0.358

Total Current Assets

123.845

103.489

94.336

 

 

 

 

TOTAL

150.533

131.824

115.720

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

 

31.03.2014

31.03.2013

31.03.2012

 

SALES

 

 

 

 

 

Income

94.038

135.919

104.469

 

 

Other Income

0.138

0.771

0.217

 

 

TOTAL                                              (A)

94.176

136.690

104.686

 

 

 

 

 

Less

EXPENSES

 

 

 

 

 

Cost of Goods Sold

48.996

86.757

67.907

 

 

Payments to & Provision for Employees

11.327

9.085

6.069

 

 

Administrative & Selling Expenses

17.045

21.637

15.904

 

 

Extraordinary Items

2.879

0.000

0.000

 

 

TOTAL                                              (B)

80.247

117.479

89.880

 

 

 

 

 

 

PROFIT/(LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B)     (C)

13.929

19.211

14.806

 

 

 

 

 

Less

FINANCIAL EXPENSES                                    (D)

10.077

8.484

7.589

 

 

 

 

 

 

PROFIT/(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D)                                (E)

3.852

10.727

7.217

 

 

 

 

 

Less

DEPRECIATION/ AMORTISATION                     (F)

3.113

3.220

2.679

 

 

 

 

 

 

PROFIT/(LOSS) BEFORE TAX (E-F)                  (G)     

0.739

7.507

4.538

 

 

 

 

 

Less

TAX                                                                  (H)

0.231

2.300

1.553

 

 

 

 

 

 

PROFIT/(LOSS) AFTER TAX (G-H)                    (I)

0.508

5.207

2.985

 

 

 

 

 

 

EARNINGS IN FOREIGN CURRENCY

35.446

22.881

22.881

 

 

 

 

 

 

Earnings Per Share (Rs.)

7.76

79.50

45.57

 

 

 

 

Expected Sales (2014-2015): Rs.200.000 Million

 

The above information has been parted by Mr. K. R. Acharya (Vice President)

 

 

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2014

31.03.2013

31.03.2012

Net Profit Margin

PAT / Sales

(%)

0.54

3.83

2.86

 

 

 

 

 

Operating Profit Margin

(PBDIT/Sales)

(%)

14.81

14.13

14.17

 

 

 

 

 

Return on Total Assets

(PBT/Total Assets)

(%)

0.49

5.70

3.93

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

0.03

0.29

0.26

 

 

 

 

 

Debt Equity Ratio

(Total Debt /Networth)

 

3.04

2.38

2.66

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

1.30

1.08

1.08

 

 

FINANCIAL ANALYSIS

[all figures are in Rupees Million]

 

DEBT EQUITY RATIO

 

Particular

31.03.2012

31.03.2013

31.03.2014

 

Rs. In Million

Rs. In Million

Rs. In Million

Share Capital

6.550

9.105

9.105

Reserves & Surplus

11.201

16.408

16.916

Net worth

17.751

25.513

26.021

 

 

 

 

long-term borrowings

10.600

10.323

29.086

Short term borrowings

36.653

50.505

50.109

Total borrowings

47.253

60.828

79.195

Debt/Equity ratio

2.662

2.384

3.044

 

 

 

YEAR-ON-YEAR GROWTH

 

Year on Year Growth

31.03.2012

31.03.2013

31.03.2014

 

Rs. In Million

Rs. In Million

Rs. In Million

Sales

104.469

135.919

94.038

 

 

30.105

(30.813)

 

 

NET PROFIT MARGIN

 

Net Profit Margin

31.03.2012

31.03.2013

31.03.2014

 

Rs. In Million

Rs. In Million

Rs. In Million

Sales

104.469

135.919

94.038

Profit

2.985

5.207

0.508

 

2.86%

3.83%

0.54%

 

 

 

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

Yes

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

No

34]

External Agency Rating, if available

No

 

 

UNSECURED LOANS:

 

Particulars

31.03.2014

Rs. In Million

31.03.2013

Rs. In Million

Long Term Borrowings

 

 

Magma Finance Corporation Limited

1.125

0.000

 

 

 

Short Term Borrowings

 

 

Magma Finance Corporation Limited

0.803

0.000

 

 

 

Total

1.928

0.000

 

 

INDEX OF CHARGE:

 

Sr. No.

Charge ID

Date of Charge Creation/Modification

Charge amount secured

Charge Holder

Address

Service Request Number (SRN)

1

10474874

15/01/2014

500,000.00

Axis Bank Limited

Trishul 3rd Floor Opposite Samartheshwar Temple, Law Garden Ellisbridge, Ahmedabad, Gujarat - 380006, India

B95201117

2

10399572

01/01/2013

63,900,000.00

Yes Bank Limited

9th Floor, Nehru Centre, Discovery of India, Dr. Annie Besant Road, Worli, Mumbai, Maharashtra -
400018, India

B66355173

3

10379156

16/08/2012

63,000,000.00

Yes Bank Limited

9th Floor, Nehru Centre, Discovery Of India, Dr. Annie Besant Road, Worli, Mumbai, Maharashtra -
400018, India

B59149971

4

10355628

30/04/2012

1,000,000.00

NKGSB Co. Op. Bank Limited

Wadala Branch, Gala No. A-9, Royal, Industrial Estate, Naigaon Cross Road, Wadala, Mumbai, Maharashtra - 400031, India

B39608617

 

 

 

FIXED ASSETS:

 

·         Industrial Gala

·         Computers

·         Motor Car

·         Motor Bike

·         Machinery

·         Office Equipments

·         Refrigerator

·         Furniture and Fixtures

·         Mobile Phone

 

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.62.59

UK Pound

1

Rs.92.46

Euro

1

Rs.67.51

 

 

INFORMATION DETAILS

 

Information Gathered by :

SNJ

 

 

Analysis Done by :

DIV

 

 

Report Prepared by :

NKT

 

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

3

--PROFITABILITY

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

 

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

 

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.