MIRA INFORM REPORT
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Report No. : |
318908 |
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Report Date : |
24.04.2015 |
IDENTIFICATION DETAILS
|
Name : |
COCA COLA INDIA PRIVATE LIMITED |
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Formerly Known
As : |
BRITCO FOODS COMPANY LIMITED |
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Registered
Office : |
Plot No. 1109 - 1110, Village Pirangut, Taluka Mulshi, Pune – 412108,
Maharashtra |
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Tel No.: |
91-20-2902200 / 2922081 |
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Country : |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
20.02.1992 |
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Com. Reg. No.: |
11-065522 |
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Capital
Investment / Paid-up Capital : |
Rs.1996.972 Million |
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CIN No.: [Company Identification
No.] |
U15549PN1992FTC065522 |
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TIN No.: |
Not Available |
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IEC No.: |
Not Available |
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TAN No.: [Tax Deduction &
Collection Account No.] |
MUMC10744G |
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PAN No.: [Permanent Account No.] |
AAACB8573C |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
The Company is engaged in the following business activities:
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No. of Employees
: |
Information denied by management |
RATING & COMMENTS
|
MIRA’s Rating : |
A (68) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Good |
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|
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Payment Behaviour : |
Regular |
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Litigation : |
Exist |
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Comments : |
Subject is a subsidiary of “Coca Cola South Asia (India) Holdings
Limited”. It is a well-established and reputed company having fine track. The company’s products are well received in the market. Overall
fundamentals are good. The company has excellent profit margin marked by increasing revenue
and good operational performance during FY 2014. The company has a debt free
balance sheet too. Further, it has strong liquidity position during FY 2014. Trade relations are good. Business is active. Payment terms are
reported to be regular and as per commitment. In view of experienced promoters and management, subject can be
considered good 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.
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 DENIED BY
|
Name : |
Mr. Jayant Patel |
|
Designation : |
Accounts Manager |
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Contact No.: |
91-80-30136045 |
|
Date : |
22.04.2015 |
LOCATIONS
|
Registered Office : |
Plot No. 1109 - 1110, Village Pirangut, Taluka Mulshi, Pune – 412108,
Maharashtra, India |
|
Tel. No.: |
91-20-2902200 / 2922081 |
|
Fax No.: |
91-20-2902274 / 2922084 |
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E-Mail : |
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Website : |
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Corporate Office : |
Enkay Towers, Udyog Vihar Phase – 5, Gurgaon – 122016, Haryana, India |
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Tel. No.: |
91-124-2348041 |
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Fax No.: |
91-124-2348136 |
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Zonal Offices : |
Located At
|
DIRECTORS
As on 30.09.2014
|
Name : |
Mr. Asim Bhupatrai Parekh |
|
Designation : |
Whole-time director |
|
Address : |
520A, Hamilton Court, Phase-4, Gurgaon – 122002, Haryana, India |
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Date of Birth/Age : |
27.08.1964 |
|
Date of Appointment : |
01.07.2012 |
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PAN No.: |
AAAPP7323H |
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DIN No.: |
00056125 |
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Name : |
Mr. Devdas Baliga |
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Designation : |
Whole Time Director |
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Address : |
A-164, First Floor, Inderpuri, New Delhi – 110012, India |
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Date of Birth/Age : |
01.03.1971 |
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Date of Appointment : |
24.09.2012 |
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PAN No.: |
ADSPB5284A |
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DIN No.: |
02770788 |
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Name : |
Mr. Sanjeev Kumar |
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Designation : |
Whole Time Director |
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Address : |
Flat No. 1002, 10th Floor, Tower B-4, The World SPA, Sector
31, Gurgaon, Haryana, India |
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Date of Birth/Age : |
02.11.1965 |
|
Date of Appointment : |
01.07.2012 |
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DIN No.: |
02873046 |
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Name : |
Mr. Venkatesh Kini |
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Designation : |
Director |
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Address : |
Flat No. B-803, Palm Springs, Golf Course Road, Sector – 54, Gurgaon –
122011, Haryana, India |
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Date of Birth/Age : |
20.11.1966 |
|
Date of Appointment : |
20.12.2013 |
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DIN No.: |
06710999 |
KEY EXECUTIVES
|
Name : |
Mr. Ullal Narendra Kini |
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Designation : |
Secretary |
|
Address : |
Flat No. D-501, The Residency, Ardee City-2, Sector 52, Gurgaon –
122002, Haryana, India |
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Date of Birth/Age : |
15.04.1965 |
|
Date of Appointment : |
01.07.2008 |
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PAN No.: |
AAAPU8311Q |
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|
|
|
Name : |
Mr. Jayant Patel |
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Designation : |
Accounts Manager |
MAJOR SHAREHOLDERS
As on 30.09.2014
|
Names of Shareholders |
|
No. of Shares |
|
Coca – Cola South Asia (India) Holdings Limited, Hong Kong |
|
199697222 |
|
Coca – Cola South Asia (India) Holdings Limited, Hong Kong jointly
with Jamshed Behram Dadachanji |
|
1 |
|
Coca – Cola South Asia (India) Holdings Limited, Hong Kong jointly
with Ravinder Narain |
|
1 |
|
Total |
|
199697224 |
Equity Share Break up (Percentage of Total Equity)
As on 30.09.2014
|
Category |
Percentage |
|
Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s), Non-resident
Indian(s) or Overseas Corporate bodies or Others |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
The Company is engaged in the following business activities:
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Products : |
Non-Alcoholic Beverage |
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Brand Names : |
-- |
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Agencies Held : |
-- |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
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Selling : |
Not Divulged |
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Purchasing : |
Not Divulged |
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
Information denied by management |
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Bankers : |
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Auditors : |
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Name : |
S. R. Batliboi and Company LLP Chartered Accountants |
|
Address : |
C-401, 4th Floor, Panchshil Tech Park, Nr. Don Bosco School Yerwada, Pune – 411006, Maharashtra, India |
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PAN
No. : |
AALFS0506L |
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Memberships : |
-- |
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Collaborators : |
-- |
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Holding Company : |
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Ultimate Holding
Company : |
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Subsidiary Company
: |
CIN No.: U11200DL2008NPL183363 |
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Fellow Subsidiaries
: |
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Others: |
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CAPITAL STRUCTURE
As on 30.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
440000000 |
Equity Shares |
Rs.10/- each |
Rs.4400.000 Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
199697224 |
Equity Shares |
Rs.10/- each |
Rs.1996.972 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 |
1,996.972 |
1,996.972 |
1,996.972 |
|
(b) Reserves & Surplus |
6,686.093 |
5,934.955 |
2,732.785 |
|
(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) |
8,683.065 |
7,931.927 |
4,729.757 |
|
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|
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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 |
72.608 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
77.070 |
54.439 |
7.320 |
|
Total Non-current
Liabilities (3) |
77.070 |
54.439 |
79.928 |
|
|
|
|
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(4)
Current Liabilities |
|
|
|
|
(a) Short term
borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade
payables |
1,913.946 |
1,850.583 |
2,518.117 |
|
(c) Other
current liabilities |
345.159 |
206.817 |
159.370 |
|
(d) Short-term
provisions |
38.403 |
31.867 |
1,944.546 |
|
Total Current
Liabilities (4) |
2,297.508 |
2,089.267 |
4,622.033 |
|
|
|
|
|
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TOTAL |
11,057.643 |
10,075.633 |
9,431.718 |
|
|
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II.
ASSETS |
|
|
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|
(1)
Non-current assets |
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(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
4,275.367 |
4,206.621 |
3,701.267 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
29.629 |
52.469 |
40.980 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.500 |
0.500 |
0.500 |
|
(c) Deferred tax assets (net) |
118.777 |
33.659 |
0.000 |
|
(d) Long-term Loan and Advances |
1,556.823 |
1,374.765 |
1,273.139 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
5,981.096 |
5,668.014 |
5,015.886 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
1,099.081 |
848.944 |
678.903 |
|
(c) Trade
receivables |
2,950.809 |
2,710.878 |
2,651.999 |
|
(d) Cash
and cash equivalents |
482.034 |
290.462 |
721.325 |
|
(e)
Short-term loans and advances |
507.042 |
527.025 |
330.907 |
|
(f) Other
current assets |
37.581 |
30.310 |
32.698 |
|
Total
Current Assets |
5,076.547 |
4,407.619 |
4,415.832 |
|
|
|
|
|
|
TOTAL |
11,057.643 |
10,075.633 |
9,431.718 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
||
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SALES |
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||
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|
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Income |
14918.380 |
14383.830 |
12097.470 |
|
|
|
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Other Income |
NA |
NA |
NA |
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|
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TOTAL |
NA |
NA |
NA |
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EXPENSES |
NA |
NA |
NA |
||
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PROFIT/(LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION |
6410.300 |
5,646.760 |
4,504.670 |
||
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|
Less |
DEPRECIATION/
AMORTISATION |
950.650 |
895.860 |
441.420 |
||
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|
|
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||
|
|
PROFIT/(LOSS)
BEFORE TAX |
5459.650 |
4750.900 |
4063.250 |
||
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|
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||
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|
TAX |
1904.880 |
1548.730 |
1323.140 |
||
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||
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PROFIT/(LOSS)
AFTER TAX |
3554.760 |
3202.170 |
2740.110 |
||
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IMPORTS |
|
|
|
||
|
|
|
Raw Materials |
681.862 |
572.207 |
430.607 |
|
|
|
|
Capital Goods |
4.106 |
21.585 |
68.304 |
|
|
|
TOTAL IMPORTS |
685.968 |
593.792 |
498.911 |
||
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|
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|
|
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||
|
|
Earnings /
(Loss) Per Share (Rs.) |
17.80 |
16.03 |
13.72 |
||
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT/Sales) |
(%) |
23.83 |
22.26 |
22.65 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
50.05 |
47.56 |
43.27 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.63 |
0.60 |
0.86 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.21 |
2.11 |
0.96 |
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 |
1996.972 |
1996.972 |
1996.972 |
|
Reserves & Surplus |
2732.785 |
5934.955 |
6686.093 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
4729.757 |
7931.927 |
8683.065 |
|
|
|
|
|
|
Long Term borrowings |
0.000 |
0.000 |
0.000 |
|
Short Term borrowings |
0.000 |
0.000 |
0.000 |
|
Total
borrowings |
0.000 |
0.000 |
0.000 |
|
Debt/Equity
ratio |
0.000 |
0.000 |
0.000 |
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 |
12,097.470 |
14,383.830 |
14,918.380 |
|
|
|
18.899 |
3.716 |
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
|
12,097.470 |
14,383.830 |
14,918.380 |
|
Profit |
2,740.110 |
3,202.170 |
3,554.760 |
|
|
22.65% |
22.26% |
23.83% |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS NOT AVAILABLE
|
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 |
Ye |
|
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 |
No |
|
20] |
Export / Import details (if
applicable) |
No |
|
21] |
Market information |
---------- |
|
22] |
Litigations that the firm
/ promoter involved in |
Yes |
|
23] |
Banking Details |
No |
|
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 |
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 |
LITIGATION DETAILS
|
HIGH COURT OF BOMBAY |
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CASE DETAILS |
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|
Bench:- Bombay |
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Lodging No. : |
ITXAL/1933/2010 |
Failing Date:- |
17.08.2010 |
Reg. No.:- |
ITXA/1159/2011 |
Reg. Date:- |
02.05.2011 |
|
Petitioner:- |
THE COMMISSIONER OF INCOME TAX-I
PUNE |
Respondent:- |
COCA COLA INDIA PRIVATE LIMITED |
||||
|
Petn.Adv:- |
VIPUL ARUN BAJPAYEE (I4135) |
Resp. Adv.: |
AMARCHAND AND MANGALDAS AND SURESH ACCOSIATES |
||||
|
District:- |
MUMBAI |
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Bench:- |
DIVISION |
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|
Status:- |
Admitted (Unready) |
Category:- |
TAX APPEALS |
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Last Date:- |
05.09.2014 |
Stage:- |
FOR ADMISSION |
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Last Coram:- |
HON’BLE SHRI JUSTICE S.C. DHAMADHIKARI HON’BLE SHRI JUSTICE A. K. MENON |
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|
Act. : |
Income Tax Act,1961 |
Under Section 260A |
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CORPORATE
INFORMATION
The Company is a private limited Company domiciled in India and incorporated under the provisions of the Companies Act, 1956. The Company is a wholly owned subsidiary of Coca-Cola South Asia (India) Holdings Limited, Hong Kong which is a subsidiary of Coca-Cola South Asia Holdings Inc. USA, which in turn is a subsidiary of The Coca-Cola Company, USA (the Ultimate Holding Company). The Company is engaged in the following business activities:
a. Manufacture and distribution of non-alcoholic beverage Bases
b. Manufacture and sale of beverage products such as tea and coffee
c. Import and Sale of Concentrate bearing Schweppes trademarks to bottlers of Schweppes Holdings Limited
d. Related support activities in pursuit to above business
OPERATIONS
The company has achieved net sales of Rs. 14,918.38 million for the financial year ended March 31, 2014 as compared to Rs. 14,383.83 million in the previous financial year. After providing Rs. 950.65 million towards depreciation (previous year Rs. 895.86 million), your company has reported a net profit of Rs. 3,554.76 million (previous year Rs. 3,202.17 million).
NO CHARGES EXIST FOR
COMPANY
FIXED ASSETS:
·
Land
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Building
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Plant and Machinery
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Computer
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Vehicles
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Furniture and Fixture
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.63.19 |
|
|
1 |
Rs.94.94 |
|
Euro |
1 |
Rs.67.66 |
INFORMATION DETAILS
|
Information
Gathered by : |
PPT |
|
|
|
|
Analysis Done by
: |
SUM |
|
|
|
|
Report Prepared
by : |
VNT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
8 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
8 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILITY |
1~10 |
8 |
|
--LIQUIDITY |
1~10 |
8 |
|
--LEVERAGE |
1~10 |
8 |
|
--RESERVES |
1~10 |
8 |
|
--CREDIT LINES |
1~10 |
7 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--LITIGATION |
YES/NO |
YES |
|
--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 |
|
DEFAULTER
|
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
|
|
|
|
TOTAL |
|
68 |
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.