MIRA INFORM REPORT
|
Report No. : |
334080 |
|
Report Date : |
03.08.2015 |
IDENTIFICATION DETAILS
|
Name : |
CLIFTON EXPORT PRIVATE LIMITED (w.e.f. 28.08.2009) |
|
|
|
|
Formerly Known
As : |
CLIFTON KNITS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
8/328, Uppilipalayam Arulpuram
Post, Paladam Road, Tirupur – 641605, Tamilnadu |
|
Tel. No.: |
91-421-6530065 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
15.11.2007 |
|
|
|
|
Com. Reg. No.: |
18-014023 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.110.000 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U18101TZ2007PTC014023 |
|
|
|
|
IEC No.: |
Not Available |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AADCC3027D |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer, producers, makers, importers, exporters, traders,
buyers, sellers, wholesalers or otherwise deal in garments. |
|
|
|
|
No. of Employees
: |
Information declined by the management |
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 620000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behavior : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track record. General financial position of the company seems to be fair. However rating
also takes into consideration low profit margin level of the company. Trade relations are fair. Business is active. Payment terms are
reported to be slow but correct. Subject 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 – 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 |
India Rating |
|
Rating |
Long Term Rating = IND BB+ |
|
Rating Explanation |
Inadequate credit quality and high credit risk |
|
Date |
08-04-2015 |
|
Rating Agency Name |
India Rating |
|
Rating |
Short Term Rating = IND A4+ |
|
Rating Explanation |
Minimal degree of safety and very high credit risk |
|
Date |
08-04-2015 |
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 DENIED BY
|
Name : |
Mr. Naveen |
|
Designation : |
Director |
|
Contact No.: |
91-9894021095 |
|
Date : |
30.07.2015 |
LOCATIONS
|
Registered Office : |
8/328, Uppilipalayam Arulpuram
Post, Paladam Road, Tirupur – 641605, Tamilnadu |
|
Tel. No.: |
91-421-6530065 |
|
Fax No.: |
91-421-2214075 |
|
E-Mail : |
naveen@cliftonexport.com |
|
Website : |
http://www.clifton-export.html |
DIRECTORS
AS ON 30.09.2014
|
Name : |
Mr. Balasubramaniam Viswanathan |
|
Designation : |
Director |
|
Address : |
No.6, Ganga Nagar 1st , Tirupur - 641602, Tamil Nadu, India |
|
Date of Birth/Age : |
02.12.1971 |
|
Date of Appointment : |
15.11.2007 |
|
DIN No.: |
01637061 |
|
|
|
|
Name : |
Mr. Balasubramaniam Nadanasabapathy |
|
Designation : |
Managing Director |
|
Address : |
No.6, Ganga Nagar 1st Street, Tirupur, Coimbatore, 641602, Tamil Nadu, India |
|
Date of Birth/Age : |
10.04.1974 |
|
Date of Appointment : |
15.11.2007 |
|
DIN No.: |
01637084 |
|
|
|
|
Name : |
Mr. Balasubramaniam Bharath |
|
Designation : |
Director |
|
Address : |
Door No.26, Kongu Nagar, 1st Street, Tiruppur - 641607, Tamil Nadu, India |
|
Date of Birth/Age : |
12.06.1979 |
|
Date of Appointment : |
15.11.2007 |
|
DIN No.: |
01637134 |
|
|
|
|
Name : |
Mr. Krishnakumar Balasubramaniam |
|
Designation : |
Director |
|
Address : |
Door No.26, Kongu Nagar, 1st Street, Tiruppur - 641607, Tamil Nadu, India |
|
Date of Birth/Age : |
18.04.1982 |
|
Date of Appointment : |
15.11.2007 |
|
DIN No.: |
01637147 |
|
|
|
|
Name : |
Mr. Balasubramaniam Rathinavelu |
|
Designation : |
Director |
|
Address : |
No.6, Ganga Nagar, 1st Street, Tirupur, 641602, Tamil Nadu, India |
|
Date of Birth/Age : |
19.08.1977 |
|
Date of Appointment : |
15.11.2007 |
|
DIN No.: |
01637225 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2014
|
Names of Shareholders |
|
No. of Shares |
|
Balasubramaniam Nadanasabapathy |
|
1022140 |
|
Balasubramaniam Viswanathan |
|
39276 |
|
Balasubramaniam Bharath |
|
17942 |
|
Balasubramaniam Rathinavelu |
|
1000 |
|
Krishnakumar Balasubramaniam |
|
19642 |
|
|
|
|
|
Total |
|
1100000 |
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, producers, makers, importers, exporters, traders,
buyers, sellers, wholesalers or otherwise deal in garments. |
||||
|
|
|
||||
|
Products : |
|
||||
|
|
|
||||
|
Brand Names : |
Not Available |
||||
|
|
|
||||
|
Agencies Held : |
Not Available |
||||
|
|
|
||||
|
Exports : |
Not Divulged |
||||
|
|
|
||||
|
Imports : |
Not Divulged |
||||
|
|
|
||||
|
Terms : |
Not Divulged |
PRODUCTION STATUS
GENERAL INFORMATION
|
Suppliers : |
|
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Customers : |
|
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
No. of Employees : |
Information declined by management |
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Bankers : |
|
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Facilities : |
|
|
Auditors : |
|
|
Name : |
T. Senthil Chartered Accountants |
|
Address : |
No. 1, J.G Nagar, 5th street, 60Feet road, Tirupur –
641603, Tamil Nadu, India |
|
PAN N Income-tax PAN of auditor or auditor's firm : |
AHFPS4179J |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Associates : |
|
CAPITAL STRUCTURE
AS ON 30.09.2015
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1100000 |
Equity Shares |
Rs.100/- each |
Rs. 110.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1100000 |
Equity Shares |
Rs.100/- each |
Rs. 110.000 Million |
|
|
|
|
|
ABRIDGED
BALANCE SHEET
FINANCIAL DATA
[all figures are
in Rupees Million]
|
SOURCES OF FUNDS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
110.000 |
110.000 |
85.000 |
|
(b) Reserves & Surplus |
110.022 |
82.974 |
62.815 |
|
(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) |
220.022 |
192.974 |
147.815 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
36.323 |
45.495 |
61.313 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.228 |
0.199 |
|
(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) |
36.323 |
45.723 |
61.512 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
408.177 |
364.037 |
280.958 |
|
(b) Trade
payables |
205.117 |
119.720 |
53.609 |
|
(c) Other
current liabilities |
6.710 |
65.593 |
31.911 |
|
(d) Short-term
provisions |
0.000 |
0.000 |
10.661 |
|
Total Current
Liabilities (4) |
620.004 |
549.350 |
377.139 |
|
|
|
|
|
|
TOTAL |
876.349 |
788.047 |
586.466 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
117.706 |
119.971 |
96.541 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.857 |
0.857 |
0.857 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
0.000 |
0.000 |
0.000 |
|
(e) Other
Non-current assets |
62.852 |
67.266 |
79.698 |
|
Total Non-Current
Assets |
181.415 |
188.094 |
177.096 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
351.456 |
386.758 |
199.852 |
|
(c) Trade
receivables |
170.816 |
56.888 |
86.047 |
|
(d) Cash
and cash equivalents |
21.396 |
16.506 |
23.512 |
|
(e) Short-term
loans and advances |
151.266 |
139.801 |
99.855 |
|
(f) Other
current assets |
|
|
0.104 |
|
Total
Current Assets |
694.934 |
599.953 |
409.370 |
|
|
|
|
|
|
TOTAL |
876.349 |
788.047 |
586.466 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Income |
1498.368 |
1006.837 |
1070.792 |
|
|
Other Income |
26.291 |
27.004 |
13.604 |
|
|
TOTAL
|
1524.659 |
1033.841 |
1084.396 |
|
|
|
|
|
|
|
Less |
TOTAL
EXPENSES |
1436.133 |
961.466 |
989.368 |
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
88.526 |
72.375 |
95.028 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
44.447 |
37.983 |
48.265 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
44.079 |
34.392 |
46.763 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION |
17.315 |
14.205 |
13.445 |
|
|
PROFIT/ (LOSS)
BEFORE TAX |
26.764 |
20.187 |
33.318 |
|
|
|
|
|
|
|
Less |
TAX |
(0.283) |
0.028 |
10.860 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
27.047 |
20.159 |
22.458 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
24.58 |
18.32 |
20.41 |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current Maturities of Long term debt |
N.A |
N.A |
N.A |
|
Cash generated from operations |
N.A |
N.A |
N.A |
|
Net cash flow from operations |
23.394 |
(36.989) |
80.532 |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
PAT / Total Income |
(%) |
1.81 |
2.00 |
2.10 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
5.91 |
7.19 |
8.87 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
3.06 |
2.56 |
5.68 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.12 |
0.10 |
0.23 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
2.02 |
2.12 |
2.32 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.12 |
1.09 |
1.09 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Share Capital |
85.000 |
110.000 |
110.000 |
|
Reserves & Surplus |
62.815 |
82.974 |
110.022 |
|
Net
worth |
147.815 |
192.974 |
220.022 |
|
|
|
|
|
|
long-term borrowings |
61.313 |
45.495 |
36.323 |
|
Short term borrowings |
280.958 |
364.037 |
408.177 |
|
Total
borrowings |
342.271 |
409.532 |
444.500 |
|
Debt/Equity
ratio |
2.316 |
2.122 |
2.020 |
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 |
1070.792 |
1006.837 |
1498.368 |
|
|
|
(5.973) |
48.819 |
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 |
1070.792 |
1006.837 |
1498.368 |
|
Profit |
22.458 |
20.159 |
27.047 |
|
|
2.10% |
2.00% |
1.81% |
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) |
No |
|
16 |
No. of employees |
No |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
No |
|
22 |
Conduct of the banking account |
-- |
|
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 three years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
Yes |
|
32 |
Litigations that the firm/promoter
involved in |
-- |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
INDEX
OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10090842 |
22/01/2015 * |
543,400,000.00 |
State Bank of
India |
State Bank of
India,Specialised Commercial Branch, |
C44393247 |
FIXED ASSETS
- Land
- Building
- Equipment
- Furniture and
Fixture
- Computer
- Plant and
Equipment
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.63.96 |
|
|
1 |
Rs.99.93 |
|
Euro |
1 |
Rs.70.16 |
INFORMATION DETAILS
|
Information
Gathered by : |
KAM |
|
|
|
|
Analysis Done by
: |
SAN |
|
|
|
|
Report Prepared
by : |
RKI |
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 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
5 |
|
--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 |
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 |
|
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
unfavorable 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.