MIRA INFORM REPORT
|
Report No. : |
316147 |
|
Report Date : |
04.04.2015 |
IDENTIFICATION DETAILS
|
Name : |
PARISHI DIAMOND |
|
|
|
|
Registered
Office : |
EC – 2081/82, Bandra Kurla Complex, Bandra (East), Mumbai – 400051,
Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Year of
Establishment : |
2007 |
|
|
|
|
Capital
Investment : |
Rs. 886.459 Millions |
|
|
|
|
IEC No.: |
Not Available |
|
|
|
|
TIN No.: |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
Not Available |
|
|
|
|
Legal Form : |
Sole Proprietary Concern |
|
|
|
|
Line of Business
: |
Manufacturer and Trader of Cut and Polish Diamonds. |
|
|
|
|
No. of Employees
: |
250 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (48) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established partnership concern having satisfactory
track record. As claimed by Mr. Sandeep (Accounts Manager) the turnover for the year
2013-14 is 4300.000 Millions Trade relations are fair. Business is active. Payment terms are
reported to be usually correct. The concern 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 – 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. Sandeep |
|
Designation : |
Account Manager |
|
Contact No.: |
91-9757298254 |
|
Date : |
03.04.2015 |
LOCATIONS
|
Registered Office : |
EC – 2081/82, Bandra Kurla Complex, bandra (East), Mumbai – 400051,
Maharashtra, India |
|
Tel. No.: |
91-91-22-43436262 / 40045256 / 57 |
|
Mobile No.: |
91-9757298254 (Mr. Sandeep) |
|
Fax No.: |
91-22-43436262 |
|
E-Mail : |
|
|
Area : |
1200 Sq. Ft. |
|
Location : |
Leased |
|
|
|
|
Factory : |
202, Gangotri Tower, Gotalawadi, Mahindrapura, Surat, Gujarat, India |
|
Tel. No.: |
91-261-2532443 |
|
Location : |
Owned |
PARTNERS
|
Name : |
Mr. Nikhil C. Shah |
|
Designation : |
Partner |
|
|
|
|
Name : |
Mr. Jigar K. Shah |
|
Designation : |
Partner |
|
|
|
|
Name : |
Mr. Adarsh Kanubhai Shah |
|
Designation : |
Partner |
|
|
|
|
Name : |
Mr. Samir Kanubhai Shah |
|
Designation : |
Partner |
|
Address : |
7/C, Kunthunath Apartment, Near Sshopping Centre, Umra Jakat Naka,
Surat, Gujarat, India |
|
PAN No.: |
AATHS0729P |
KEY EXECUTIVES
|
Name : |
Mr. Sandip |
|
Designation : |
Account Manager |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Trader of Cut and Polish Diamonds. |
|
|
|
|
Products : |
Not Available |
|
|
|
|
Brand Names : |
Not Available |
|
|
|
|
Agencies Held : |
Not Available |
|
|
|
|
Exports : |
|
|
Products : |
|
|
Countries : |
|
|
|
|
|
Imports : |
|
|
Products : |
Rough Diamonds |
|
Countries : |
Belgium |
|
|
|
|
Terms : |
|
|
Selling : |
L\C and Credit |
|
|
|
|
Purchasing : |
L\C and Credit |
GENERAL INFORMATION
|
Suppliers : |
|
||||||||||||||||||||||||||
|
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||||||||||||||||||||||||||
|
Customers : |
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||||||||||||||||||||||||||
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|
||||||||||||||||||||||||||
|
No. of Employees : |
250 (Approximately) |
||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||
|
Bankers : |
|
||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||
|
Facilities : |
-- |
|
Banking Relations
: |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Ramesh D. Sha and Company Chartered Accountants |
|
Address : |
203, Laxmi Villa, Opposite Kala Hanuman Temple, M. G. Road, Kandivali
(West), Mumbai – 400067, Maharashtra, India |
|
Tel. No.: |
91-22-28618386 / 28618398 |
|
|
|
|
Memberships : |
-- |
|
|
|
|
Collaborators : |
-- |
|
|
|
|
Sister Concerns: |
Not Available |
CAPITAL STRUCTURE
As on: 31.03.2014
|
Capital Investment : |
|
|
Owned : |
Rs. 886.459 Millions |
|
Borrowed : |
-- |
|
Total : |
Rs. 886.459
Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
|
SOURCES OF FUNDS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
886.459 |
760.056 |
272.772 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
0.000 |
0.000 |
0.000 |
|
|
4] (Accumulated Losses) |
886.459 |
760.056 |
272.772 |
|
|
NETWORTH |
|
|
|
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
112.432 |
54.390 |
101.549 |
|
|
2] Unsecured Loans |
13.734 |
13.694 |
81.443 |
|
|
TOTAL BORROWING |
126.166 |
68.084 |
182.992 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
1012.625 |
828.140 |
455.764 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
75.941 |
79.975 |
35.319 |
|
|
Capital work-in-progress |
28.371 |
8.538 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
8.574 |
5.000 |
20.985 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
0.000
|
0.000 |
0.000 |
|
|
Sundry Debtors |
819.519
|
465.377 |
237.420 |
|
|
Cash & Bank Balances |
35.011
|
49.350 |
73.789 |
|
|
Other Current Assets |
1631.514
|
1416.141 |
847.820 |
|
|
Loans & Advances |
8.076
|
5.869 |
5.282 |
|
Total
Current Assets |
2494.120
|
1936.737 |
1164.311 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
1586.769
|
1192.953 |
756.971 |
|
|
Other Current Liabilities |
7.612
|
9.157 |
7.880 |
|
|
Provisions |
0.000
|
0.000 |
0.000 |
|
Total
Current Liabilities |
1594.381
|
1202.110 |
764.851 |
|
|
Net Current Assets |
899.739
|
734.627 |
399.460 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
1012.625 |
828.140 |
455.764 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
4384.413 |
3983.078 |
2558.711 |
|
|
|
Other Income |
4.198 |
(7.643) |
68.760 |
|
|
|
TOTAL |
4388.611 |
3975.435 |
2627.471 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Goods Sold |
4140.399 |
3746.593 |
2420.755 |
|
|
|
Factory Expenses |
49.194 |
43.440 |
41.207 |
|
|
|
Agency Charges |
0.421 |
0.450 |
0.276 |
|
|
|
Annual Maintenance Charges |
0.080 |
0.000 |
0.091 |
|
|
|
Angadia Charges |
0.076 |
0.013 |
0.049 |
|
|
|
Audit Fees |
0.056 |
0.056 |
0.056 |
|
|
|
Bank Commission and Other Charges |
9.250 |
4.106 |
3.696 |
|
|
|
Bank Loan Interest |
3.786 |
2.646 |
3.407 |
|
|
|
Bad Debts |
1.419 |
0.622 |
0.519 |
|
|
|
Computer General Expenses |
0.027 |
0.144 |
0.076 |
|
|
|
Consultancy Expenses |
0.000 |
0.000 |
0.007 |
|
|
|
Conveyance Expenses |
0.000 |
0.000 |
0.037 |
|
|
|
Credit Rating Agencies Expenses |
0.000 |
0.000 |
0.014 |
|
|
|
Courier And Freight Charges |
4.985 |
0.010 |
0.000 |
|
|
|
Custom Duty On Reimports |
0.634 |
0.000 |
0.000 |
|
|
|
Diamond Grading Charges |
43.176 |
76.296 |
0.310 |
|
|
|
Electricity Charges
|
0.138 |
0.320 |
0.200 |
|
|
|
Exhibition Expenses |
0.407 |
0.476 |
0.322 |
|
|
|
Export Commission |
4.584 |
11.404 |
41.149 |
|
|
|
Diamond Handling |
0.025 |
0.000 |
48.808 |
|
|
|
Insurance Charges |
0.930 |
0.000 |
0.005 |
|
|
|
Internet Expense |
0.274 |
0.024 |
0.236 |
|
|
|
License Fees |
0.000 |
0.000 |
0.004 |
|
|
|
Loan Processing Fees |
0.000 |
0.000 |
0.015 |
|
|
|
Locker Rent |
0.000 |
0.000 |
0.005 |
|
|
|
Maintenance Expenses |
0.052 |
0.059 |
0.853 |
|
|
|
Membership Fees |
0.185 |
0.204 |
0.007 |
|
|
|
Miscellaneous Expenses |
0.079 |
0.023 |
0.050 |
|
|
|
Municipal Tax |
0.084 |
0.058 |
0.026 |
|
|
|
Office Maintenance |
0.335 |
0.159 |
0.019 |
|
|
|
Office Rent |
2.586 |
0.000 |
0.069 |
|
|
|
Safe Rent |
0.029 |
0.024 |
0.488 |
|
|
|
Printing And Stationary |
0.504 |
0.378 |
0.033 |
|
|
|
Legal And Professional Fees |
0.475 |
0.463 |
0.007 |
|
|
|
Professional Fees |
0.067 |
0.067 |
0.018 |
|
|
|
Professional Tax |
0.039 |
0.002 |
0.038 |
|
|
|
Repair And Service Charges |
0.098 |
0.147 |
0.138 |
|
|
|
Salary Paid |
3.097 |
1.951 |
0.038 |
|
|
|
Service Tax |
2.077 |
0.000 |
0.009 |
|
|
|
Show and Other Charges |
0.610 |
0.008 |
0.001 |
|
|
|
Sales Promotion Expenses |
0.091 |
0.000 |
0.147 |
|
|
|
Security Expenses |
0.804 |
0.553 |
1.078 |
|
|
|
Sales Tax Expenses |
0.078 |
0.000 |
0.322 |
|
|
|
Staff Welfare Expenses |
0.607 |
0.000 |
0.008 |
|
|
|
Stationary and Printing |
0.000 |
0.000 |
0.293 |
|
|
|
Telephone Expenses |
0.440 |
0.358 |
0.037 |
|
|
|
Foreign Travelling Expenses |
1.963 |
0.000 |
0.482 |
|
|
|
Travelling Expenses |
0.047 |
3.387 |
0.518 |
|
|
|
VAT Audit fees |
0.056 |
0.056 |
0.056 |
|
|
|
TOTAL |
4274.264 |
3894.497 |
2565.979 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
114.347 |
80.938 |
61.492 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
0.459 |
0.361 |
0.243 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
113.888 |
80.577 |
61.249 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
1.307 |
1.169 |
1.228 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
112.581 |
79.408 |
60.021 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
112.581 |
79.408 |
60.021 |
|
Expected Sales (2014-2015): Rs. 4500.000 Millions
The above information has been parted by Mr. Sandeep
Note: Sole Proprietary and Partnership concerns are
exempted from filing their financials with the Government Authorities or
Registry.
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT/Sales) |
(%) |
2.57 |
1.99 |
2.35 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT / Sales) |
(%) |
2.61 |
2.03 |
2.40 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
4.51 |
4.10 |
5.16 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.13 |
0.10 |
0.22 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.14 |
0.09 |
0.67 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.56 |
1.61 |
1.52 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Share Capital |
272.772 |
760.056 |
886.459 |
|
Reserves & Surplus |
0.000 |
0.000 |
0.000 |
|
Net
worth |
272.772 |
760.056 |
886.459 |
|
|
|
|
|
|
long-term borrowings |
101.549 |
54.390 |
112.432 |
|
Short term borrowings |
81.443 |
13.694 |
13.734 |
|
Total
borrowings |
182.992 |
68.084 |
126.166 |
|
Debt/Equity
ratio |
0.671 |
0.090 |
0.142 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
2558.711 |
3983.078 |
4384.413 |
|
|
|
55.667 |
10.076 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
2558.709 |
3983.078 |
4384.413 |
|
Profit |
60.021 |
79.408 |
112.581 |
|
|
2.35% |
1.99% |
2.57% |
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 |
No |
|
13] |
Reasons for variation
<> 20% |
----- |
|
14] |
Estimation for coming
financial year |
Yes |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
No |
|
17] |
Major suppliers |
Yes |
|
18] |
Major customers |
Yes |
|
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 |
No |
|
25] |
Conduct of the banking
account |
----- |
|
26] |
Buyer visit details |
----- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
No |
|
29] |
Last accounts filed at
ROC |
No |
|
30] |
Major Shareholders, if
available |
No |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
|
|
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 |
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners, controlling
shareholders or senior officers as terrorist or terrorist organization or whom
notice had been received that all financial transactions involving their assets
have been blocked or convicted, found guilty or against whom a judgement or
order had been entered in a proceedings for violating money-laundering,
anti-corruption or bribery or international economic or anti-terrorism sanction
laws or whose assets were seized, blocked, frozen or ordered forfeited for
violation of money laundering or international anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper payments
to government officials for engaging in prohibited transactions or with
designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record exists
to suggest that any director or indirect owners, controlling shareholders,
director, officer or employee of the company is a government official or a
family member or close business associate of a Government official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report : No press reports / filings exists on the
subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws, regulations
or policies that prohibit, restrict or otherwise affect the terms and
conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.59 |
|
|
1 |
Rs.92.46 |
|
Euro |
1 |
Rs.67.51 |
INFORMATION DETAILS
|
Information
Gathered by : |
DIP |
|
|
|
|
Analysis Done by
: |
SUC |
|
|
|
|
Report Prepared
by : |
ANK |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
-- PROFITABILITY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
6 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
48 |
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.