MIRA INFORM REPORT
|
Report No. : |
316232 |
|
Report Date : |
08.04.2015 |
IDENTIFICATION DETAILS
|
Name : |
KAVERI METALLISING AND COATING INDUSTRIES PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
11, Kamaldeep Industrial Estate, Opposite New Arvind Mill, Khatraj,
Kalol, Ahmedabad – 382721, Gujarat |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
16.12.1999 |
|
|
|
|
Com. Reg. No.: |
04-037028 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.19.863 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U25209GJ1999PTC037028 |
|
|
|
|
IEC No.: |
Not Available |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
Not Available |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer and Trader of BOPP Polyester Film |
|
|
|
|
No. of Employees
: |
30 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (30) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 96000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having moderate track record. The rating is constrained on account of company’s moderate financial
risk profile marked by low profitability margins and leverage capital
structure of the company. However, trade relations are fair. Business is active. Payments are
reported to be slow but correct. The company can be considered for business dealing 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. Vinay Kurup |
|
Designation : |
Business Development Manager |
|
Contact No.: |
91-8155050660 |
|
Date : |
06.04.2015 |
LOCATIONS
|
Registered Office / Factory : |
11, Kamaldeep Industrial Estate, Opposite New Arvind Mill, Khatraj,
Kalol, Ahmedabad – 382721, Gujarat, India |
|
Tel. No.: |
91-2764-281536 |
|
Mobile No.: |
91-9824249919 (Mr. Dhruv Dani) |
|
Fax No.: |
91-2764-281501 |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
DIRECTORS
As on 30.09.2014
|
Name : |
Mr. Bharatkumar Babulal Dani |
|
Designation : |
Director |
|
Address : |
16, Vasupujya Bunglows, Satellite Road, Ahmadabad-380015, Gujarat,
India |
|
Date of Appointment : |
16.12.1999 |
|
DIN No : |
01471507 |
|
|
|
|
Name : |
Mr. Dhruv BharatKumar Dani |
|
Designation : |
Director |
|
Address : |
16, Vasupujya Bunglows, Satellite Road, Ahmadabad-380015, Gujarat,
India |
|
Date of Appointment : |
16.12.1999 |
|
DIN No : |
01537084 |
|
|
|
|
Name : |
Mrs. Pragna Bharatkumar Dani |
|
Designation : |
Additional Director |
|
Address : |
16, Vasupujya Bunglows, Satellite Road, Ahmadabad-380015, Gujarat,
India |
|
Date of Appointment : |
01.02.2011 |
|
DIN No : |
03439391 |
KEY EXECUTIVES
|
Name : |
Mr. Vinay Kurup |
|
Designation : |
Business Development Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2014
|
Names of Shareholders |
|
No. of Shares |
|
Bharat Kumar Dani |
|
472764 |
|
Pragna Dani |
|
192510 |
|
Dhruv Dani |
|
193296 |
|
Ajit Dani |
|
671980 |
|
Hitesh Dani |
|
53800 |
|
Hemal Dani |
|
38000 |
|
Suryakant Goda |
|
30000 |
|
Vandana Goda |
|
23000 |
|
Pushpa Dani |
|
70000 |
|
Radhika Dani |
|
30000 |
|
Ajit Dani, HUF |
|
21650 |
|
Crown Trade Link Private Limited |
|
50000 |
|
Bharat Dani, HUF |
|
8750 |
|
Aarti Mehta |
|
4030 |
|
Ashok Meghani |
|
10300 |
|
Bhavesh S Goda |
|
7700 |
|
Darshana Mehta |
|
13150 |
|
Divyesh M Mehta |
|
27345 |
|
Gulab Gauri Dani |
|
16150 |
|
Harshad Meghani |
|
10800 |
|
Harshika Mehta |
|
3000 |
|
Jalaram Mehta |
|
1250 |
|
Jayesh Mehta |
|
1000 |
|
Kiran Meghani |
|
1300 |
|
Poonam Mehta |
|
5950 |
|
Rita Goda |
|
9550 |
|
Rupaben Goda |
|
3050 |
|
Smitaben Mehta |
|
5950 |
|
Roopa Mehta |
|
10000 |
|
Total |
|
1986275 |
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Bodies corporate |
2.52 |
|
Directors or relatives of Directors |
97.48 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Trader of BOPP Polyester Film |
|
|
|
|
Products : |
|
|
|
|
|
Brand Names : |
Not Available |
|
|
|
|
Agencies Held : |
Not Available |
|
|
|
|
Exports : |
|
|
Products : |
Finished good |
|
Countries : |
|
|
|
|
|
Imports : |
|
|
Products : |
Raw Materials |
|
Countries : |
|
|
|
|
|
Terms : |
|
|
Selling : |
Cash and Credit |
|
|
|
|
Purchasing : |
Cash and Credit |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
Wholesalers, Retailers and Manufacturer
|
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No. of Employees : |
30 (Approximately) |
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Bankers : |
|
||||||||||||||||||||||||||
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|
||||||||||||||||||||||||||
|
Facilities : |
(Rs.
In Million)
|
|
Auditors : |
|
|
Name : |
Dhariwal and Associates Chartered Accountant |
|
Address : |
101, Shivalik 09, Gulabi Tekra, Ellisbridge, Ahmadabad – 380006,
Gujarat, India |
|
PAN No.: |
ADDPD8496F |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Associates/Subsidiaries : |
Not Available |
CAPITAL STRUCTURE
As on 30.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2,000,000 |
Equity Shares |
Rs.10/- each |
Rs.20.000 million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1,986,275 |
Equity Shares |
Rs.10/- each |
Rs.19.863
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 |
19.863 |
19.863 |
19.863 |
|
(b) Reserves & Surplus |
13.751 |
12.206 |
11.191 |
|
(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) |
33.614 |
32.069 |
31.054 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
22.540 |
21.299 |
12.810 |
|
(b) Deferred tax liabilities
(Net) |
2.474 |
3.081 |
3.279 |
|
(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) |
25.014 |
24.380 |
16.089 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
13.997 |
9.727 |
18.462 |
|
(b) Trade payables |
30.265 |
10.882 |
12.644 |
|
(c) Other current liabilities |
3.522 |
5.524 |
1.532 |
|
(d) Short-term provisions |
1.436 |
0.934 |
0.885 |
|
Total
Current Liabilities (4) |
49.220 |
27.067 |
33.523 |
|
|
|
|
|
|
TOTAL |
107.848 |
83.516 |
80.666 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
15.716 |
17.362 |
17.984 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(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) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
0.527 |
0.572 |
0.641 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
16.243 |
17.934 |
18.625 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
40.231 |
25.938 |
28.617 |
|
(c) Trade receivables |
45.606 |
33.439 |
30.562 |
|
(d) Cash and cash equivalents |
0.390 |
0.045 |
0.199 |
|
(e) Short-term loans and
advances |
5.378 |
6.160 |
2.663 |
|
(f) Other current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
91.605 |
65.582 |
62.041 |
|
|
|
|
|
|
TOTAL |
107.848 |
83.516 |
80.666 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
183.347 |
122.865 |
87.147 |
|
|
|
Other Income |
0.286 |
0.070 |
0.128 |
|
|
|
TOTAL |
183.633 |
122.935 |
87.275 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
158.234 |
103.447 |
73.997 |
|
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
(2.885) |
(0.349) |
(0.926) |
|
|
|
Employees benefits expense |
0.951 |
0.573 |
0.388 |
|
|
|
Other expenses |
19.798 |
12.920 |
9.505 |
|
|
|
TOTAL |
176.098 |
116.591 |
82.964 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
7.535 |
6.344 |
4.311 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
3.953 |
3.137 |
1.303 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
3.582 |
3.207 |
3.008 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
1.860 |
1.791 |
1.749 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
1.722 |
1.416 |
1.259 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
0.177 |
0.401 |
0.406 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX |
1.545 |
1.015 |
0.853 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
0.78 |
0.51 |
0.43 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
0.84 |
0.83 |
0.98 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/Sales) |
(%) |
4.11 |
5.16 |
4.95 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.60 |
1.70 |
1.56 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.05 |
0.04 |
0.04 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
1.09 |
0.97 |
1.01 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.86 |
2.42 |
1.85 |
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 |
19.863 |
19.863 |
19.863 |
|
Reserves & Surplus |
11.191 |
12.206 |
13.751 |
|
Net
worth |
31.054 |
32.069 |
33.614 |
|
|
|
|
|
|
long-term borrowings |
12.810 |
21.299 |
22.540 |
|
Short term borrowings |
18.462 |
9.727 |
13.997 |
|
Total
borrowings |
31.272 |
31.026 |
36.537 |
|
Debt/Equity
ratio |
1.007 |
0.967 |
1.087 |
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 |
87.147 |
122.865 |
183.347 |
|
|
|
40.986 |
49.226 |
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 |
87.147 |
122.865 |
183.347 |
|
Profit |
0.853 |
1.015 |
1.545 |
|
|
0.98% |
0.83% |
0.84% |
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 |
No |
|
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 |
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 |
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 |
(Rs.
In Million)
|
UNSECURED LOAN |
As
on 31.03.2014 |
As
on 31.03.2013 |
|
Long Term
Borrowing |
|
|
|
From director relatively |
14.740 |
17.061 |
|
From bodies corporate |
4.619 |
4.238 |
|
Total |
19.359 |
21.299 |
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10273768 |
03/04/2014 * |
42,000,000.00 |
CITY UNION BANK LIMITED |
149, BIG STREET, KUMBAKONAM,, TANJORE DISTRICT, Tamilnadu -
612001, INDIA |
C05969571 |
|
2 |
10273769 |
12/09/2014 * |
67,000,000.00 |
CITY UNION BANK LIMITED |
149, BIG STREET, KUMBAKONAM,, TANJORE DISTRICT, Tamilnadu - 612001,
INDIA |
C32224644 |
* Date of charge modification
FIXED ASSETS
- Land and Development
- Building
- Plant and Machinery
- Office Equipment
- Car
- Computers
- Furniture and Fixtures
- Laboratory Equipments
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.62.33 |
|
|
1 |
Rs.92.83 |
|
Euro |
1 |
Rs.68.07 |
INFORMATION DETAILS
|
Information
Gathered by : |
DPA |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
JYTK |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
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 |
3 |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER
|
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
30 |
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.