MIRA INFORM REPORT
|
Report No. : |
318483 |
|
Report Date : |
23.04.2015 |
IDENTIFICATION DETAILS
|
Name : |
VENUS SAFETY AND
HEALTH PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Plot No.L-17, Taloja MIDC Industrial Area, Village Tondare, Taluka –
Panvel, District – Raigad, Thane – 410208, Maharashtra |
|
Tel. No.: |
91-22-27411652 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of Incorporation
: |
16.07.2007 |
|
|
|
|
Com. Reg. No.: |
11-172380 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.15.506 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U85100MH2007PTC172380 |
|
|
|
|
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, Exporter and Importer of Apparels/Articles of non-woven
textile viz. caps, masks, suits. |
|
|
|
|
No. of Employees
: |
50 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (46) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 370000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
The subject is an established company having a satisfactory track
record. The company has reported to have an increase in its profitability
during the financial year 2013-2014. The company possesses sound financial position marked by strong
liquidity and decent networth. Trade relations are fair. Business is active. Payments are reported to
be 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 – 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. Amol Karkare |
|
Designation : |
Accounts Department |
|
Contact No.: |
91-22-27411652 |
|
Date : |
18.04.2015 |
LOCATIONS
|
Registered Office / Factory : |
Plot No.L-17, Taloja MIDC Industrial Area, Village Tondare, Taluka –
Panvel, District – Raigad, Thane – 410208, Maharashtra, India |
|
Tel. No.: |
91-22-27411652 |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Head Office : |
Plot No. W 284, MIDC Rabale, Navi Mumbai – 400701, Maharashtra, India |
|
Tel. No.: |
91-22-27692646 / 27602583 |
|
Fax No. : |
91-22-2769 0126 |
|
E-Mail : |
DIRECTORS
As on 30.09.2014
|
Name : |
Sushi Mahesh Kudav |
|
Designation : |
Director |
|
Address : |
Flat No. 1201, Asha Nagar, |
|
Date of Birth/Age : |
09.05.1966 |
|
Date of Appointment : |
16.07.2007 |
|
DIN No.: |
00680462 |
|
|
|
|
Name : |
Mr. Mahesh Pandurang Kudav |
|
Designation : |
Director |
|
Address : |
B-93, |
|
Date of Birth/Age : |
21.08.1965 |
|
Date of Appointment : |
16.07.2007 |
|
DIN No.: |
01317692 |
KEY EXECUTIVES
|
Name : |
Mr. Amol Karkare |
|
Designation : |
Accounts Department |
MAJOR SHAREHOLDERS
As on 30.09.2014
|
Names of Shareholders |
No. of Shares |
Percentage of
Holding |
|
Sushi Mahesh Kudav |
50730 |
3.27 |
|
Mahesh Pandurang Kudav |
1486100 |
95.84 |
|
Emany Consulting DBA, USA |
13784 |
0.89 |
|
Total |
1550614 |
100.00 |
As on 30.09.2014
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer, Exporter and Importer of Apparels/Articles of non-woven
textile viz. caps, masks, suits. |
|
|
|
|
Products : |
·
Respiratory Protective Equipment viz :
Particulate Filtering masks, Half masks, Full Face mask, Chemical Filters,
PAPR and Airline apparatus. ·
Hearing Protective Equipments viz : Ear Plug and
Ear-Muffs ·
Eye and Face Protective Equipment : Spectacles,
Goggles and Shield |
|
|
|
|
Brand Names : |
Not Available |
|
|
|
|
Agencies Held : |
Not Available |
|
|
|
|
Exports : |
|
|
Products : |
Respiratory Protective Equipment Hearing Protective Equipments Eye and Face Protective Equipment |
|
Countries : |
·
Dubai ·
London |
|
|
|
|
Imports : |
|
|
Products : |
Raw Material |
|
Countries : |
China |
|
|
|
|
Terms : |
|
|
Selling : |
Not Available |
|
|
|
|
Purchasing : |
Not Available |
PRODUCTION STATUS = NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
|
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|
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Customers : |
·
Wholesalers, Retailers and Manufacturer
|
|||||||||||||||||||||
|
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|
|||||||||||||||||||||
|
No. of Employees : |
50 (Approximately) |
|||||||||||||||||||||
|
|
|
|||||||||||||||||||||
|
Bankers : |
·
The Thane Janata Sahakari Bank Limited, Main
Branch, Madhumalti, V S Path, Jambhli Naka, Thane – 400 601, Maharashtra,
India ·
HDFC Bank ·
State Bank of India |
|||||||||||||||||||||
|
|
|
|||||||||||||||||||||
|
Facilities : |
(Rs.
In Million)
|
|
Auditors : |
|
|
Name : |
HSMP and Associates Chartered Accountants |
|
Address : |
409-410 Dalamal Chambers, New Marine Lines, Mumbai – 400020,
Maharashtra, India |
|
Tel. No.: |
91-22-43436565 |
|
Fax No.: |
91-22-43436566 |
|
E-Mail : |
|
|
Website : |
|
|
PAN No.: |
AAHFH8510K |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Related Party : |
·
Wibhav Non-Woven Products Private Limited ·
Venus Safety and Health FZC |
CAPITAL STRUCTURE
As on 31.03.2014
Authorised Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2000000 |
Equity Shares |
Rs.10/- each |
Rs.20.000 Million |
Issued, Subscribed & Paid-up Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1550614 |
Equity Shares |
Rs.10/- each |
Rs.15.506
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 |
15.506 |
15.506 |
15.506 |
|
(b) Reserves &
Surplus |
108.040 |
87.249 |
73.617 |
|
(c) Money received
against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application
money pending allotment |
6.096 |
5.192 |
0.243 |
|
Total Shareholders’ Funds
(1) + (2) |
129.642 |
107.947 |
89.366 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
82.702 |
77.196 |
73.850 |
|
(b) Deferred tax
liabilities (Net) |
8.014 |
3.695 |
1.431 |
|
(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) |
90.716 |
80.891 |
75.281 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade payables |
83.319 |
65.428 |
53.635 |
|
(c) Other current
liabilities |
2.581 |
3.425 |
3.624 |
|
(d) Short-term provisions |
11.872 |
4.399 |
11.716 |
|
Total Current Liabilities
(4) |
97.772 |
73.252 |
68.975 |
|
|
|
|
|
|
TOTAL |
318.130 |
262.090 |
233.622 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
179.808 |
121.306 |
129.041 |
|
(ii) Intangible Assets |
1.441 |
1.601 |
1.779 |
|
(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 |
2.199 |
2.880 |
0.115 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
11.497 |
12.799 |
12.211 |
|
(e) Other Non-current
assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
194.945 |
138.586 |
143.146 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
14.431 |
2.018 |
6.000 |
|
(c) Trade receivables |
88.595 |
73.401 |
65.104 |
|
(d) Cash and cash
equivalents |
7.153 |
3.930 |
7.775 |
|
(e) Short-term loans and
advances |
1.876 |
1.053 |
0.142 |
|
(f) Other current assets |
11.130 |
43.102 |
11.455 |
|
Total Current Assets |
123.185 |
123.504 |
90.476 |
|
|
|
|
|
|
TOTAL |
318.130 |
262.090 |
233.622 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Income |
|
335.078 |
287.318 |
|
|
Other Income |
|
4.699 |
3.875 |
|
|
TOTAL |
NA |
339.777 |
291.193 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
|
237.149 |
202.044 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
|
0.487 |
(0.096) |
|
|
Employees benefits
expense |
|
12.653 |
12.515 |
|
|
Other expenses |
|
51.197 |
23.872 |
|
|
TOTAL |
NA |
301.486 |
238.335 |
|
|
|
|
|
|
|
Less |
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION |
38.291 |
52.858 |
|
|
|
|
(Including
Depreciation and Financial Expenses) |
|
|
|
Less |
FINANCIAL EXPENSES |
|
8.402 |
8.299 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION |
29.889 |
44.559 |
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
12.381 |
9.594 |
8.433 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
32.583 |
20.295 |
36.126 |
|
|
|
|
|
|
|
Less |
TAX |
11.793 |
6.663 |
11.797 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
20.790 |
13.632 |
24.329 |
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’ BALANCE
BROUGHT FORWARD |
77.056 |
63.424 |
39.095 |
|
|
|
|
|
|
|
|
Balance Carried to the
B/S |
97.846 |
77.056 |
63.424 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (Rs.) |
13.41 |
8.79 |
15.69 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT/Sales) |
(%) |
NA |
4.07 |
8.47 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT / Sales) |
(%) |
NA
|
11.43 |
18.40 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
10.31 |
7.83 |
15.47 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.25 |
0.19 |
0.40 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.64 |
0.72 |
0.83 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.26 |
1.69 |
1.31 |
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 |
15.506 |
15.506 |
15.506 |
|
Reserves & Surplus |
73.617 |
87.249 |
108.040 |
|
Net worth |
89.123 |
102.755 |
123.546 |
|
|
|
|
|
|
long-term borrowings |
73.850 |
77.196 |
82.702 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Total borrowings |
73.850 |
77.196 |
82.702 |
|
Debt/Equity ratio |
0.829 |
0.751 |
0.669 |
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
two 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 |
Yes |
|
18] |
Major customers |
Yes |
|
19] |
Payments terms |
No |
|
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 LOAN
(Rs.
In Million)
|
Particulars |
As
on 31.03.2014 |
As
on 31.03.2013 |
|
LONG TERM
BORROWING |
|
|
|
Arvind Bhatt |
0.102 |
0.102 |
|
Total |
0.102 |
0.102 |
Bankers Charges
Report as per Registry
|
Corporate identity
number (CIN) or foreign company registration number of the company |
U85100MH2007PTC172380 |
|
Name of the
company |
VENUS SAFETY AND
HEALTH PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in India of the company |
Plot No L-17, Taloja MIDC
Industrial Area, Village Tondare, Taluka - Panvel, District - Raigad, Thane –
410208, Maharashtra, India |
|
This form is for |
Creation
of Charges |
|
Charge
identification (ID) number of the charge to be modified |
--- |
|
Type of charge |
Immovable property |
|
Particular of
charge holder |
1 |
|
Category |
Co-operative bank |
|
Name of charge holder |
Others |
|
Name |
TJSB Sahakari
Bank Limited |
|
Address |
Madhumalati, Veer
Savarkar Path, Thane – 400601, Maharashtra, India |
|
e-mail ID |
|
|
Nature of
instrument creating charge |
Record of
Mortgage by Deposit of Title Deeds |
|
Date of
instrument Creating the charge |
09.03.2013 |
|
Amount secured by
the charge |
Rs.61.600 Million |
|
Brief of the
principal terms and conditions and extent and operation of the charge |
As may be decided
by the bank. |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
|
|
Particulars of
the present modification |
--- |
FIXED ASSETS
- Land
- Building
- Fire Fighting System
- Plant and Machinery
- Generator
- Office Equipment
- Furniture and Fixture
- Computer
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.62.81 |
|
|
1 |
Rs.93.85 |
|
Euro |
1 |
Rs.67.58 |
INFORMATION DETAILS
|
Information
Gathered by : |
KMN |
|
|
|
|
Analysis Done by
: |
SUC |
|
|
|
|
Report Prepared
by : |
PNM |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILITY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
6 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
NO |
|
DEFAULTER
|
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
46 |
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.