MIRA INFORM REPORT

 

 

Report No. :

318463

Report Date :

29.04.2015

 

IDENTIFICATION DETAILS

 

Name :

PROPACK SHREINER PRIVATE LIMITED

 

 

Registered Office :

21/5, Thalgattpura Kanakpura Main Road, Bangalore – 560062, Karnataka

Tel No :

91-80-28425535

 

 

Country :

India

 

 

Financials (as on) :

31.03.2014

 

 

Date of Incorporation :

22.11.1994

 

 

Com. Reg. No.:

08-016591

 

 

Capital Investment / Paid-up Capital :

Rs. 3.082 Million

 

 

CIN No.:

[Company Identification No.]

U51909KA1994PTC016591

 

 

IEC No.:

Not Available

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

BLRP03523C

 

 

PAN No.:

[Permanent Account No.]

AABCP0268K

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Manufacture of Self Adhesive labels

 

 

No. of Employees :

120 (Approximately)

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba (44)

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Maximum Credit Limit :

USD 160000

 

 

Status :

Satisfactory

 

 

Payment Behaviour :

Slow but Correct

 

 

Litigation :

Clear

 

 

Comments :

Subject is an established company having satisfactory track record.

 

The company has reported a stagnant growth in its turnover however it maintained its profitability margin.

 

Trade relations are reported as fair. Payments terms are reported to be slow but correct.

 

The company can be considered normal 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

 

Rating Agency Name

Not Available

Rating

Not Available

Rating Explanation

Not Available

Date

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 (GENERAL DETAIL)

 

Name :

Mr. Busavaray

Designation :

Account Manager

Contact No.:

91-80-28425535

Date :

20.04.2015

 

 

LOCATIONS

 

Registered Office / Factory :

21/5, Thalgattpura Kanakpura Main Road, Bangalore – 560062, Karnataka, India

Tel. No.:

91-80-28425535 / 26667477

Fax No.:

91-80-28425637

E-Mail :

accounts@propack.co.in

polypac@blr.vsnl.net.in

plant@propack.co.in

ramesh@propack.co.in

Website :

http://www.propack.co.in

Area :

5000 sq. ft.

Location :

Owned

 

 

DIRECTORS

 

As on : 29.09.2014

 

Name :

Mr. Ramesh Kumar Utsavlal Bagrecha

Designation :

Managing Director

Address :

# 100/8, Bull Temple Road, Bangalore – 560 004, Karnataka, India

Date of Birth/Age :

18.03.1968

Date of Appointment :

06.08.1997

DIN No.:

00634124

Other Directorship :

S.No.

CIN/LLPIN

Name of the Company/ LLP

Current designation of the Director/ Designated Partner

Date of appointment at current designation

Original date of appointment

Date of cessation

Company/ LLP Status

Defaulting status

1

U25190KA1996PTC020814

MUKESH RESTYLES PRIVATE LIMITED

Director

15/07/1996

15/07/1996

-

Active

NO

2

U51909KA1994PTC016591

PROPACK SHREINER PRIVATE LIMITED

Managing director

06/08/1997

06/08/1997

-

Active

NO

3

U22219KA2004PTC034144

UNIPLASTICO AUTOMOTIVES PRIVATE LIMITED

Director

16/06/2004

16/06/2004

-

Strike off

NO

4

U25202KA2005PTC036546

UNIPACK POLYFOAMS PRIVATE LIMITED

Director

14/06/2005

14/06/2005

16/07/2009

Active

NO

5

U22212KA2005PTC038087

ORION TRIMS PRIVATE LIMITED

Director

29/12/2005

29/12/2005

15/07/2014

Active

NO

6

U21014KA2010PTC053448

Maestro Polyfab Designers Private Limited

Director

24/09/2012

24/09/2012

-

Active

NO

7

U22222AP2013PTC085545

MACRO MEDIA PROPACK PRIVATE LIMITED

Director

31/01/2013

31/01/2013

-

Active

NO

8

U51109KA2011PTC061767

R N R L EXIM INDIA PRIVATE LIMITED

Director

09/11/2014

09/11/2014

-

Active

NO

 

 

Name :

Mr. Utsavalal Mukesh Kumar

Designation :

Director

Address :

No.100/8, Bull Temple Road, Bangalore – 560 004, Karnataka, India

Date of Birth/Age :

11.04.1971

Date of Appointment :

22.11.1994

DIN No.:

02833505

Other Directorship :

S.No.

CIN/LLPIN

Name of the Company/ LLP

Current designation of the Director/ Designated Partner

Date of appointment at current designation

Original date of appointment

Date of cessation

Company/ LLP Status

Defaulting status

1

U51909KA1994PTC016591

PROPACK SHREINER PRIVATE LIMITED

Director

22/11/1994

22/11/1994

-

Active

NO

2

U25190KA1996PTC020814

MUKESH RESTYLES PRIVATE LIMITED

Director

15/07/1996

15/07/1996

-

Active

NO

3

U51909KA2009PTC051921

Multi Speciality Products India Private Limited

Director

22/12/2009

22/12/2009

-

Active

NO

4

U19120TN2012PTC084186

MULTI WYN SALES PRIVATE LIMITED

Director

30/01/2012

30/01/2012

-

Active

NO

5

U70101DL2012PTC238509

MARKLINE INFRASTRUCTURE PRIVATE LIMITED

Director

07/07/2012

07/07/2012

-

Active

NO

6

U01120KA2013PTC067535

NISCO AGRI TECH(BANGALORE) PRIVATE LIMITED

Director

07/01/2013

07/01/2013

-

Active

NO

 

 

KEY EXECUTIVES

 

Name :

Mr. Busavaray

Designation :

Account Manager

 

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

As on : 29.09.2014

 

Names of Shareholders

 

No. of Shares

Ramesh Bagrecha

 

19275

Utsavlal Bagrecha (HUF)

 

3497

Suresh Kumar Begrecha

 

2000

Sangeeta Begrecha

 

1500

Utsavlal Bagrecha

 

750

Monica Begrecha

 

1000

Mukesh Begrecha

 

1000

Saraswati Devi

 

1800

N M Bafna

 

1

Vinod Bafna

 

1

Ravi Bafna

 

1

Total

 

30825

 

 

As on : 29.09.2014

 

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 :

Manufacture of Self Adhesive labels

 

 

Products :

 

 

 

Brand Names :

Not Available

 

 

Agencies Held :

Not Available

 

 

Exports :

 

Products :

Finished goods

Countries :
  • China
  • Philippines

 

 

Imports :

 

Products :

Raw Material

Countries :
  • China
  • Germany
  • Japan
  • Italy

 

 

Terms :

 

Selling :

Cash and L/C

 

 

Purchasing :

Cash and L/C

 

 

GENERAL INFORMATION

 

Suppliers :

 

Reference :

Not Divulged

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Experience :

Not Divulged

Maximum Limit Dealt :

Not Divulged

 

 

Customers :

Wholesalers, Retailers and Manufacturer

 

Reference :

Not Divulged

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Experience :

Not Divulged

Maximum Limit Dealt :

Not Divulged

 

 

No. of Employees :

120 (Approximately)

 

 

Bankers :

Banker Name

ING VYSYA Bank Limited

Branch Address

22, Hara Chambers, K.H. Road, (Double Road), Bangalore – 560027, Karnataka, 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 (If Possible)

Not Divulged

Credit Facilities Enjoyed (If any)

Not Divulged

Account Operation

Not Divulged

Remarks (If any)

Not Divulged

 

 

Banker Name

Standard Chartered Bank

Branch Address

112, Serenity, Koramangaka Indl Area, 5th Block, Koramangala, Bangalore – 560095, Karnataka, India

 

 

Banker Name

UTI Bank Limited

Branch Address

Banashankari II Stage Branch, Bangalore – 560082, Karnataka, India

 

 

Facilities :

(Rs. In Million)

SECURED LOAN

As on

31.03.2014

As on

31.03.2013

LONG TERM BORROWING

 

 

Kotak Mahindra Loan A/c

0.000

0.121

(Secured against hypothecation of Mission Macro car )

 

 

ICICI Bank loan

0.289

0.000

(Secured against hypothecation Mission Macro Car)

 

 

 

 

 

SHORT TERM BORROWING

 

 

ING VYSYA Bank Limited

3.436

10.906

(Secured by hypothecation Sec No. 1432/1,21/5, Thalgattpura Kanakpura Main Road, Bangalore – 560062, Karnataka, India)

 

 

Total

3.725

11.027

 

Auditors :

 

Name :

Sharma and Pagaria

Chartered Accountant

Address :

No.8, IV Floor, Laxmi Complex, No.40, K.R. Road, Bangalore – 560 002, Karnataka, India

PAN No.:

AAKFS9247B

 

 

Memberships :

Not Available

 

 

Collaborators :

Not Available

 

 

Associates/Subsidiaries :

Not Available

 

 

 

CAPITAL STRUCTURE

 

As on: 29.09.2014

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

35000

Equity Shares

Rs.100/- each

Rs.3.500 Million

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

30825

Equity Shares

Rs.100/- each

Rs.3.082 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

3.083

3.083

3.082

(b) Reserves & Surplus

51.535

46.354

42.271

(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)

54.618

49.437

45.353

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

39.996

23.394

11.653

(b) Deferred tax liabilities (Net)

1.667

1.456

0.636

(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)

41.663

24.850

12.289

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

3.436

10.906

10.809

(b) Trade payables

57.826

30.993

28.507

(c) Other current liabilities

3.473

2.043

1.789

(d) Short-term provisions

1.142

0.000

0.004

Total Current Liabilities (4)

65.877

43.942

41.109

 

 

 

 

TOTAL

162.158

118.229

98.751

 

 

 

 

II.          ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

36.438

30.015

21.417

(ii) Intangible Assets

0.043

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

1.310

0.400

0.159

(c) Deferred tax assets (net)

0.835

0.000

0.000

(d)  Long-term Loan and Advances

1.518

4.694

4.183

(e) Other Non-current assets

0.000

0.000

0.000

Total Non-Current Assets

40.144

35.109

25.759

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

15.227

10.223

11.337

(c) Trade receivables

89.422

60.567

49.283

(d) Cash and cash equivalents

5.695

3.003

6.377

(e) Short-term loans and advances

11.670

9.327

5.995

(f) Other current assets

0.000

0.000

0.000

Total Current Assets

122.014

83.120

72.992

 

 

 

 

TOTAL

162.158

118.229

98.751

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

31.03.2014

31.03.2013

31.03.2012

 

 

 

 

 

TOTAL INCOME

237.433

149.197

123.645

 

 

 

 

 

 

 

 

 

 

 

TOTAL EXPENSES

225.216

139.090

115.845

 

 

 

 

 

 

PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION

12.217

10.107

7.800

 

 

 

 

 

 

DEPRECIATION/ AMORTISATION

4.846

4.050

3.172

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE TAX

7.371

6.057

4.628

 

 

 

 

 

 

TAX

2.804

1.154

1.124

 

 

 

 

 

 

PROFIT/ (LOSS)  AFTER TAX 

4.567

4.903

3.504

 

 

 

 

 

 

EARNINGS IN FOREIGN CURRENCY

 

 

 

 

F.O.B. Value of Exports

 0.000

22.664

19.234

 

TOTAL EARNINGS

0.000

22.664

19.234

 

 

 

 

 

 

IMPORTS

 

 

 

 

Raw Materials

51.562

16.685

21.221

 

Capital Goods

4.607

10.151

4.492

 

TOTAL IMPORTS

56.169

26.836

25.713

 

 

 

 

 

 

Earnings / (Loss) Per Share (Rs.)

148.16

159.06

360.45

 

 

 

 

 

 

 

KEY RATIOS

 

PARTICULARS

 

31.03.2014

31.03.2013

31.03.2012

 

 

 

 

Net Profit Margin (PAT/Sales)

(%)

1.92

3.29

2.83

 

 

 

 

 

Return on Total Assets (PBT/Total Assets}

(%)

4.61

5.14

4.69

 

 

 

 

 

Return on Investment (ROI) (PBT/Networth)

 

0.13

0.12

0.10

 

 

 

 

 

Debt Equity Ratio (Total Debt /Networth)

 

0.80

0.69

0.50

 

 

 

 

 

Current Ratio (Current Asset/Current Liability)

 

1.85

1.89

1.78

 

 

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

3.082

3.083

3.083

Reserves & Surplus

42.271

46.354

51.535

Net worth

45.353

49.437

54.618

 

 

 

 

long-term borrowings

11.653

23.394

39.996

Short term borrowings

10.809

10.906

3.436

Total borrowings

22.462

34.300

43.432

Debt/Equity ratio

0.495

0.694

0.795

 

 

 

 

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)

Total Income

123.645

149.197

237.433

 

 

20.666

59.141

 

 

 

 

NET PROFIT MARGIN

 

Net Profit Margin

31.03.2012

31.03.2013

31.03.2014

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Total Income

123.645

149.197

237.433

Profit

11.111

4.903

4.567

 

8.99%

3.29%

1.92%

 

 

 

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

Yes

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

No

15]

Capital in the business

Yes

16]

Details of sister concerns

No

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

 

 

Note :

 

The registered address of the company has been shifted from 39/40, No. 15, Annapoorneshwari Industrial Area, Doddakalla – Sandra, Kanakapura Main Road, Bangalore – 560062, Karnataka, India to the present address w.e.f 03.12.2009

 

 

UNSECURED LOAN

(Rs. In Million)

Particulars

As on

31.03.2014

As on

31.03.2013

LONG TERM BORROWING

 

 

Loan from Shareholders, Director and relatives

39.706

23.272

Total

39.706

23.272

 

 

INDEX OF CHARGES

 

S.No.

Charge ID

Date of Charge Creation/Modification

Charge amount secured

Charge Holder

Address

Service Request Number (SRN)

1

10366613

29/05/2012

330,000,000.00

ING VYSYA BANK LIMITED

22,HARA CHAMBERS,, K.H.ROAD,(DOUBLE ROAD),, BANGA 
LORE, Karnataka - 560027, INDIA

B44208700

2

10283864

29/03/2011

33,000,000.00

Standard Chartered Bank

112, Serenity, Koramangala Indl Area, 5th Block, 
Koramangala, Bangalore, Karnataka - 560095, INDIA

B11994001

* Date of charge modification

 

 

FIXED ASSETS

 

  • Computer
  • Building
  • Furniture
  • Plant and Machinery
  • Office Equipment
  • Air Conditioner
  • Car
  • Digital Printers
  • Scanner
  • Fire Extinguisher
  • Portable Fan
  • Two Wheelers

 

 

 

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.63.40

UK Pound

1

Rs.93.42

Euro

1

Rs.68.48

 

 

INFORMATION DETAILS

 

Information Gathered by :

DIP

 

 

Analysis Done by :

DIV

 

 

Report Prepared by :

SUJ

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

5

PAID-UP CAPITAL

1~10

5

OPERATING SCALE

1~10

5

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

5

--PROFITABILITY 

1~10

5

--LIQUIDITY

1~10

5

--LEVERAGE

1~10

5

--RESERVES

1~10

5

--CREDIT LINES

1~10

4

--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

 

44

 

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.