MIRA INFORM REPORT

 

 

Report No. :

334491

Report Date :

01.08.2015

 

IDENTIFICATION DETAILS

 

Name :

ASCENT CIRCUITS PRIVATE LIMITED (w.e.f. 07.04.2000)

 

 

Formerly Known As :

RIC CIRCUITS PRIVATE LIMITED

 

 

Registered Office :

B-13, I.T.I., Industrial Estate, Mahadevpur, Bangalore – 560048, Karnataka

Tel. No.:

91-80-28511709

 

 

Country :

India

 

 

Financials (as on) :

31.03.2014

 

 

Date of Incorporation :

01.02.1999

 

 

Com. Reg. No.:

08-024700

 

 

Capital Investment / Paid-up Capital :

Rs. 15.000 Million

 

 

CIN No.:

[Company Identification No.]

U31200KA1999PTC024700

 

 

IEC No.:

0799003786

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

Not Available

 

 

PAN No.:

[Permanent Account No.]

AABCR2074D

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Manufacturer, Exporter and Importer of printed circuit board, single sided, double sided and multi-layer.

 

 

No. of Employees :

350 (Approximately)

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba (50)

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

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

Satisfactory

 

Maximum Credit Limit :

USD 1600000

 

 

Status :

Satisfactory

 

 

Payment Behaviour :

Usually correct

 

 

Litigation :

Clear

 

 

Comments :

Subject is an old and established company incorporated during the year 1999 having a satisfactory track record.

 

Available financial indicates company sound financial risk profile marked by healthy net worth position with low borrowings and favorable gap between trade payable and trade receivable.

 

Further the rating also takes into consideration decent profitability of the company.

 

Trade relations are reported as fair. Business is active. Payment terms are reported to be usually correct.

 

In view of long track record and sound financial base, 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 – March 31, 2015

 

Country Name

Previous Rating

(31.12.2014)

Current Rating

(31.03.2015)

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 31-03-2013.

 

 

INFORMATION PARTED BY

 

Name :

Mr. Ravichandran

Designation :

General Manager Finance

Contact No.:

91-9443338097

Date :

30.07.2015

 

 

LOCATIONS

 

Registered Office :

B-13, I.T.I., Industrial Estate, Mahadevpur, Bangalore – 560048, Karnataka, India

Tel. No.:

91-80-28511709

Mobile No.:

91-9443338097 (Mr. Ravichandran)

Fax No.:

91-80-28511709

E-Mail :

ravichandran@ascenticircuits.com

Website :

http://www.ascentcircuits.com

Location :

Owned

 

 

Factory :

Plot No.111, SIPCOT Industrial Complex, Phase-1, Hosur – 635 126, Tamilnadu, India

Tel. No.:

91-4344-400108/ 400124/ 400103/ 400102/ 400109/ 271123/ 271124/ 271136/ 35

Fax No.:

91-4344-400128/ 271148

Area :

5.5 Acres

Location :

Owned

 

 

DIRECTORS

 

AS ON 30.09.2014

 

Name :

Mr. Punyamurthy Manjunath

Designation :

Managing Director

Address :

1282, 13th Cross Indira Nagar, II State, Bangalore – 560 038, Karnataka, India

Date of Birth/Age :

05.02.1960

Qualification :

B. Tech.

Date of Appointment :

01.02.1999

DIN No.:

00900902

PAN No.:

ADKPM0177H

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

U01300TZ1989PTC002484

HOSUR COIR FOAMS PRIVATE LIMITED

Managing director

01/04/2013

24/03/1993

-

Active

NO

2

U31503KA1986PTC007459

TECHNOVA TAPES (INDIA)PRIVATE LIMITED

Director

25/08/1994

25/08/1994

01/12/2014

Active

NO

3

U31200KA1999PTC024700

ASCENT CIRCUITS PRIVATE LIMITED

Managing director

01/02/1999

01/02/1999

-

Active

NO

4

U17111TZ1995PTC006507

PEPS INDUSTRIES PRIVATE LIMITED

Director

14/09/2006

16/12/2005

-

Active

NO

5

U31300KL2008PTC027811

GlobalWave Technologies Private Limited

Director

12/05/2008

12/05/2008

-

Active

NO

6

U17214TZ2010PTC016432

HOSUR MATTRESS INDUSTRIES INDIA PRIVATE LIMITED

Director

13/10/2010

13/10/2010

-

Active

NO

7

U74900KA2011PTC059112

ACE ENVIRO TECH PRIVATE LIMITED

Director

13/06/2011

13/06/2011

18/07/2013

Active

NO

8

U40100TZ2013PTC019623

Hosur Industries Power Services Private Limited

Director

26/06/2013

26/06/2013

-

Active

NO

 

 

Name :

Mr. Shankar Ram Gopalan

Designation :

Director

Address :

201, Trinity Golf Links Apartments, 139/8, Sharadhamma Layout, Domlur, Bangalore – 560 071, Karnataka, India

Date of Birth/Age :

04.12.1959

Qualification :

B. Tech.

Date of Appointment :

01.02.1999

DIN No.:

00110783

PAN No.:

AIDPG2737M

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

U01300TZ1989PTC002484

HOSUR COIR FOAMS PRIVATE LIMITED

Whole-time director

01/04/2013

24/03/1993

-

Active

NO

2

U31200KA1999PTC024700

ASCENT CIRCUITS PRIVATE LIMITED

Director

01/02/1999

01/02/1999

-

Active

NO

3

U52190KA1991PTC012623

TRINITY SUPERMARKETS PRIVATE LIMITED

Director

04/12/2001

04/12/2001

-

Active

NO

4

U17111TZ1995PTC006507

PEPS INDUSTRIES PRIVATE LIMITED

Director

14/09/2006

16/12/2005

-

Active

NO

5

U17214TZ2010PTC016432

HOSUR MATTRESS INDUSTRIES INDIA PRIVATE LIMITED

Director

13/10/2010

13/10/2010

-

Active

NO

 

 

KEY EXECUTIVES

 

Name :

Mr. Ravichandran

Designation :

General Manager Finance

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

AS ON 30.09.2014

 

Names of Shareholders

No. of Shares

% of Holdings

Arvind Aroor Rao

315000

21.00

Punyamurthy Manjunath

750000

50.00

Shankarram Gopalan

435000

29.00

 

 

 

Total

1500000

100.00

 

 

Equity Share Break up (Percentage of Total Equity)

 

AS ON 30.09.2014

 

Category

Percentage

Directors or relatives of Directors

100.00

Total

100.00

 

 

BUSINESS DETAILS

 

Line of Business :

Manufacturer, Exporter and Importer of printed circuit board, single sided, double sided and multi-layer.

 

 

Products :

Not Divulged

 

 

Brand Names :

Not Available

 

 

Agencies Held :

Not Available

 

 

Exports :

 

Products :

Finished Goods

Countries :

·         Germany

·         Italy

·         France

·         USA

 

 

Imports :

 

Products :

Raw Material

Countries :

·         Korea

·         Taiwan

·         Singapore

·         China

 

 

Terms :

 

Selling :

Cash and Credit

 

 

Purchasing :

Cash and Credit

 

 

GENERAL INFORMATION

 

Suppliers :

Not Divulged

Reference :

Nanya Plastic – Taiwan

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

Reference :

Advance Power Display Systems Private Limited, Mumbai, Maharashtra, India

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 :

350 (Approximately)

 

 

Bankers :

Banker Name

Kotak Mahindra Bank

Branch Address

Hosur Branch

Person Name (With Designation)

Mr. Gupta (Territory Manager)

Contact Number

91-9980573413

Name of Account Holder

Ascent Circuits Private Limited

Account Number

Not Divulged

Account Since (Date/Year of Account Opening)

2013

Average Balance Maintained (If Possible)

Not Divulged

Credit Facilities Enjoyed (If any)

Cash Credit

Account Operation

Satisfactory

Remarks (If any)

As claimed by Mr. Gupta (Territory Manager) that Transactions are fare, satisfactory.

·         ING Vysya Bank Limited, No.7, II Cross Kamaraj Colony, Krishnagiri District, Hosur – 635125, Tamilnadu, India

 

 

Facilities :

(Rs. In Million)

SECURED LOAN

As on

31.03.2014

As on

31.03.2013

SHORT TERM BORROWING

 

 

Borrowings

107.486

150.475

 

 

 

Total

107.486

150.475

 

Auditors :

 

Name :

G. Jagadish Babu

Chartered Accountant

Address :

No.760, 2nd Floor, Dr. Rajkumar Road, Rajajinagar, 6th Block, Bangalore – 560 010, Karnataka, India

Tel. No.:

91-80-23153425

Mobile No.:

91-9448324794

PAN N Income-tax PAN of auditor or auditor's firm :

AAOPB3442M

 

 

Memberships :

--

 

 

Collaborators :

--

 

 

Enterprises which are owned, or have significant influence of or are partners

with Key management personnel and their relatives :

Technova Tapes (India) Private Limited

 

 

 

CAPITAL STRUCTURE

 

AS ON 30.09.2014

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

1500000

Equity Shares

Rs.10/- each

Rs. 15.000 Million

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

1500000

Equity Shares

Rs.10/- each

Rs. 15.000 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

15.000

15.000

15.000

(b) Reserves & Surplus

545.965

389.155

338.347

(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)

560.965

404.155

353.347

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

17.129

17.162

23.496

(b) Deferred tax liabilities (Net)

9.931

14.105

16.475

(c) Other long term liabilities

0.692

9.663

3.370

(d) long-term provisions

0.000

0.000

0.000

Total Non-current Liabilities (3)

27.752

40.930

43.341

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

107.486

156.456

62.811

(b) Trade payables

186.912

130.034

121.260

(c) Other current liabilities

13.832

41.083

2.933

(d) Short-term provisions

0.075

0.075

0.075

Total Current Liabilities (4)

308.305

327.648

187.079

 

 

 

 

TOTAL

897.022

772.733

583.767

 

 

 

 

II.      ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

210.098

233.103

175.168

(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

9.566

3.899

0.500

(c) Deferred tax assets (net)

0.000

0.000

0.000

(d)  Long-term Loan and Advances

4.969

6.448

6.235

(e) Other Non-current assets

12.591

27.551

30.762

Total Non-Current Assets

237.224

271.001

212.665

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

161.730

109.793

88.476

(c) Trade receivables

339.004

313.901

205.113

(d) Cash and cash equivalents

26.226

6.626

23.007

(e) Short-term loans and advances

132.838

71.412

54.506

(f) Other current assets

0.000

0.000

0.000

Total Current Assets

659.798

501.732

371.102

 

 

 

 

TOTAL

897.022

772.733

583.767

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

31.03.2014

 

31.03.2013

31.03.2012

 

SALES

 

 

 

 

 

Income

1403.786

NA

NA

 

 

Other Income

NA

NA

NA

 

 

TOTAL                                    

NA

NA

NA

 

 

 

 

 

Less

EXPENSES

 

 

 

 

 

TOTAL                                    

NA

NA

NA

 

 

 

 

 

 

PROFIT BEFORE TAX

238.316

75.161

98.058

 

 

 

 

 

Less

TAX                                                                 

81.507

24.354

31.573

 

 

 

 

 

 

PROFIT AFTER TAX

156.809

50.807

66.485

 

 

 

 

 

 

Earnings Per Share (Rs.)

104.54

33.87

44.32

 

 

Particulars

 

 

 

31.03.2015

Sales Turnover (Approximately)

 

 

1720.000

 

 

 

 

 

Expected Sales (2015-16) : Rs. 2100.000 Million

 

The above information has been parted by Mr. Ravichandran (General Manager Finance)

 

 

 

 

 

 

 

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

 

Particulars

 

31.03.2014

 

31.03.2013

31.03.2012

Current Maturities of Long term debt

NA

NA

NA

Cash generated from operations

NA

NA

NA

Net cash flow from (used in) operation

NA

NA

NA

 

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2014

31.03.2013

31.03.2012

Net Profit Margin

(PAT / Sales)

(%)
11.17

0.00

0.00

 

 
 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)

26.85

9.78

16.81

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

0.42

0.19

0.28

 

 

 

 

 

Debt Equity Ratio

(Total Debt /Networth)

 

0.22

0.43

0.24

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

2.14

1.53

1.98

 

 

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

15.000

15.000

15.000

Reserves & Surplus

338.347

389.155

545.965

Share Application money pending allotment

0.000

0.000

0.000

Net worth

353.347

404.155

560.965

 

 

 

 

long-term borrowings

23.496

17.162

17.129

Short term borrowings

62.811

156.456

107.486

Current Maturities of Long Term Debt

0.000

0.000

0.000

Total borrowings

86.307

173.618

124.615

Debt/Equity ratio

0.244

0.430

0.222

 

 

 

LOCAL AGENCY FURTHER INFORMATION

 

Sr. No.

Check list by info agents

Available in Report (Yes/No)

1

Year of establishment

Yes

2

Constitution of the entity -Incorporation details

Yes

3

Locality of the entity

Yes

4

Premises details

No

5

Buyer visit details

----

6

Contact numbers

Yes

7

Name of the person contacted

Yes

8

Designation of contact person

Yes

9

Promoter’s background

Yes

10

Date of Birth of Proprietor / Partners / Directors

Yes

11

Pan Card No. of Proprietor / Partners

No

12

Voter Id Card No. of Proprietor / Partners

No

13

Type of business

Yes

14

Line of Business

Yes

15

Export/import details (if applicable)

Yes

16

No. of employees

Yes

17

Details of sister concerns

Yes

18

Major suppliers

Yes

19

Major customers

Yes

20

Banking Details

Yes

21

Banking facility details

Yes

22

Conduct of the banking account

Yes

23

Financials, if provided

Yes

24

Capital in the business

Yes

25

Last accounts filed at ROC, if applicable

Yes

26

Turnover of firm for last one year

Yes

27

Reasons for variation <> 20%

-----

28

Estimation for coming financial year

Yes

29

Profitability for last three years

Yes

30

Major shareholders, if available

Yes

31

External Agency Rating, if available

No

32

Litigations that the firm/promoter involved in

-----

33

Market information

-----

34

Payments terms

Yes

35

Negative Reporting by Auditors in the Annual Report

No

 

 

UNSECURED LOAN

 

Particulars

As on

31.03.2014

As on

31.03.2013

LONG TERM BORROWING

 

 

Deferred payment Indian Sources

15.847

15.494

Loans and advances from related parties

1.282

1.668

SHORT TERM BORROWING

 

 

Borrowings

0.000

5.981

Total

17.129

23.143

 

 

 

 

 

INDEX OF CHARGES

 

S.No.

Charge ID

Date of Charge Creation/Modification

Charge amount secured

Charge Holder

Address

Service Request Number (SRN)

1

10412404

15/05/2014 *

353,000,000.00

ING VYSYA BANK LIMITED

NO.7, II CROSS,KAMARAJ COLONY, KRISHNAGIRI DISTRICT, HOSUR,

Tamil Nadu - 635125,

INDIA

C11897048

2

90198599

27/06/2005 *

20,000,000.00

STATE BANK OF INDIA

III ANCILLARY INDUSTRIAL ESTATE, MAHADEVURA, BANGALORE, Karnataka, INDIA

-

3

90197640

08/04/2011 *

367,500,000.00

STATE BANK OF INDIA

SPECIALISED MID CORPORATE BRANCH, #97, RAILWAY PA 
RALLEL ROAD, KUMARAPARK WEST, BANGALORE,

 Karnataka - 560020,

INDIA

B11393998

4

90199280

27/06/2005 *

22,500,000.00

STATE BANK OF INDIA

ITI ANCILLARY INDL. ESTATE, MAHADEVAPURA, BANGALORE,

Karnataka - 560048,

 INDIA

-

 

* Date of charge modification

 

 

FIXED ASSETS

 

·         Land

·         Buildings

·         Plant and Equipments

·         Furniture and Fixture

·         Vehicles

·         Office Equipments

·         Computer

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. 64.01

UK Pound

1

Rs. 99.84

Euro

1

Rs. 70.16

 

 

INFORMATION DETAILS

 

Information Gathered by :

DIP

 

 

Analysis Done by :

DIV

 

 

Report Prepared by :

JYO

 

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

6

PAID-UP CAPITAL

1~10

5

OPERATING SCALE

1~10

6

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

6

--PROFITABILITY

1~10

6

--LIQUIDITY

1~10

5

--LEVERAGE

1~10

5

--RESERVES

1~10

6

--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

YES

DEFAULTER

 

 

--RBI

YES/NO

NO

--EPF

YES/NO

NO

TOTAL

 

50

 

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.