MIRA INFORM REPORT

 

 

Report No. :

335385

Report Date :

03.08.2015

 

IDENTIFICATION DETAILS

 

Name :

KNISS LABORATORIES PRIVATE LIMITED

 

 

Registered Office :

Old No.9, New No.12,18th Avenue, Ashok Nagar, Chennai – 600083, Tamilnadu

Tel. No.:

91-44-23820522

 

 

Country :

India

 

 

Financials (as on) :

31.03.2014

 

 

Date of Incorporation :

17.11.1988

 

 

Com. Reg. No.:

18-016466

 

 

Capital Investment / Paid-up Capital :

Rs.7.900 Million

 

 

CIN No.:

[Company Identification No.]

U24231TN1988PTC016466

 

 

IEC No.:

Not Available

 

 

TIN No.:

33021420209

 

 

CST No.:

585303/21389

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

Not Available

 

 

PAN No.:

[Permanent Account No.]

Not Available

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Manufacturing, Exporting of pharmaceutical products.

 

 

No. of Employees :

150 (Approximately)

 

 

RATING & COMMENTS

 

MIRA’s Rating :

B (27)

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Maximum Credit Limit :

USD 40000

 

 

Status :

Moderate

 

 

Payment Behaviour :

Slow but correct

 

 

Litigation :

Clear

 

 

Comments :

Subject was incorporated in the year 1988.

 

Kniss Laboratories is a private limited that specializes in the manufacturer of allopathy and ayurvedic formulations.

 

It is an established company having moderate track record.

 

Reserves of the company seems to be low. External borrowings of the company also seems to be huge during 2014.

 

However, trade relations are reported as fair. Business is active. Payments are reported to be slow but correct.

 

The company can be considered for business dealings with some caution.

 

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

CRISIL

Rating

Long term rating: B+

Rating Explanation

Have risk prone credit quality and carry very high credit

Date

17.02.2015

 

 

Rating Agency Name

CRISIL

Rating

Short term rating: A4

Rating Explanation

Have minimal degree of safety and carry very high credit risk.

Date

17.02.2015

 

 

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 PARTED BY

 

Name :

Mr. Bhaskar

Designation :

Export Manager

Contact No.:

91-44-42903500

 

 

LOCATIONS

 

Registered Office :

Old No.9, New No.12,18th Avenue, Ashok Nagar, Chennai – 600083, Tamilnadu, India

Tel. No.:

91-44-42903500

Fax No.:

91-44-23820277

E-Mail :

accounts@knisslabs.com

export@knisslabs.com

kniss@md3.csnl.net.in

Website:

www.knisslabs.com

Location :

Owned

 

 

Factory :

Plot No 9, Multe Industrial Estate, Gerugambakkam (Porur Kundrathur Road), Chennai – 602122, Tamilnadu, India

Tel. No.:

91-44-23820522/42903500-3549

Fax No.:

91- 44-23820277

 

 

DIRECTORS

 

AS ON 30.09.2014

 

Name :

Mr. Muthiah Dhanalakshmi Varadarajan

Designation :

Managing director

Address :

Old No. 9 New No. 12, 18th Avenue, Ashok Nagar, Chennai - 600083, Tamilnadu, India

Date of Birth/Age :

22.01.1961

Date of Appointment :

17.11.1988

DIN No.:

00058390

 

 

Name :

Mr. Venkatachalapathy M

Designation :

Director

Address :

54, Santhome High Road, Santhome, Chennai - 600026, Tamilnadu, India

Date of Birth/Age :

21.04.1944

Date of Appointment :

26.01.1996

DIN No.:

00058459

 

 

KEY EXECUTIVES

 

Name :

Mr. Bhaskar

Designation :

Export Manager

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

AS ON 30.09.2014

 

Names of Shareholders

No. of Shares

%age holding

M D Vardarajan

72160

61.83

M Venkatchalapathy

4600

3.94

Sundariammal

3000

2.57

Ramamani

2000

1.71

Priya

2500

2.14

SAmundeeswari

2500

2.14

Gandhimathi

2000

1.71

Vardhini

2000

1.71

Ramesh

2500

2.14

Ratna

1700

1.46

Hemalatha

21750

18.64

Total

116710

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 :

Manufacturing, Exporting of pharmaceutical products.

 

 

Products :

Pharmaceutical products

 

 

Brand Names :

Not Available

 

 

Agencies Held :

Not Available

 

 

Exports :

 

Products :

Pharmaceutical products

Countries :

Sri Lanka

 

 

Imports :

Not Divulged

 

 

Terms :

 

Selling :

Cash and Credit

 

 

Purchasing :

Cash and Credit

 

 

PRODUCTION STATUS: NOT AVAILABLE

 

 

GENERAL INFORMATION

 

Suppliers :

Reference :

Not Divulged

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Maximum Limit Dealt :

Not Divulged

Experience :

Not Divulged

Remark:

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

Maximum Limit Dealt :

Not Divulged

Experience :

Not Divulged

Remark:

Not Divulged

 

 

No. of Employees :

150  (Approximately)

 

 

Bankers :

The Karur Vysya Bank Limited, Tamilnadu, India

 

Banker Name

UCO Bank

Branch Address

67, Burkit Road (Ground Floor),

T.Nagar, Chennai - 600017,

Tamilnadu, 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

 

 

Facilities :

(Rs. In Million)

SECURED LOAN

As on

31.03.2014

As on

31.03.2013

LONG TERM BORROWING

 

 

From Banks

 

 

Cholamandalam

0.000

0.333

UCO Term Loan – 2 – 01760610002537

0.000

1.148

UCO Term Loan 01760610008843

7.229

0.000

HDFC Bank Limited – Sunny Car Loan

0.540

0.781

Deutsche Bank – Loan

2.818

3.924

UCO FD Against Loan – 01760510014240

0.792

0.000

UCO Bank Packing Credit 01760710000014

1.527

0.000

UCO Bank Packing Credit 01760710000052

1.750

0.000

UCO Bank Packing Credit 01760710000045

3.100

0.000

From other parties

Sundaram Finance

0.131

0.141

SHORT TERM BORROWING

 

 

UCO Bank FD Against Loan – 01760510000342

1.835

0.678

UCO Bank – T Nagar, Chennai 17

34.151

30.881

Total

53.873

37.886

 

 

 

Financial Institute:

Janalakshmi Financial Services Private Limited, Rajashree Saroja Plaza, No 34/1 Andree Road, Shanti Nagar, Bangalore - 560071, Karnataka, India

 

 

Auditors :

 

Name :

Gopikumar Associates

Chartered Accountant

Address :

AP 345, 36th Street, 7th Sector, K K Nagar, Chennai – 600078, Tamilnadu, India

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

AAAFG1710H

 

 

Memberships :

--

 

 

Collaborators :

--

 

 

Associates/Subsidiaries :

--

 

 

CAPITAL STRUCTURE

 

 

AFTER 30.09.2014

 

Authorised Capital : Rs. 15.000 Million

 

Issued, Subscribed & Paid-up Capital : Rs. 12.676 Million

 

AS ON 30.09.2014

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

150000

Equity Shares

Rs.100/- each

Rs. 15.000 Million

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

116710

Equity Shares

Rs.100/- each

Rs. 11.671 Million

 

 

 

 

 

AS ON 31.03.2014

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

100000

Equity Shares

Rs.100/- each

Rs. 10.000 Million

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

79000

Equity Shares

Rs.100/- each

Rs. 7.900 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

7.900

7.900

7.900

(b) Reserves & Surplus

6.201

5.718

4.708

(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)

14.101

13.618

12.608

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

21.022

9.377

9.333

(b) Deferred tax liabilities (Net)

1.280

0.978

1.108

(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)

22.302

10.355

10.441

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

35.986

31.559

28.274

(b) Trade payables

31.537

57.126

69.361

(c) Other current liabilities

0.232

1.341

1.128

(d) Short-term provisions

0.261

0.711

0.400

Total Current Liabilities (4)

68.016

90.737

99.163

 

 

 

 

TOTAL

104.419

114.710

122.212

 

 

 

 

II.          ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

25.712

21.776

23.898

(ii) Intangible Assets

0.082

0.156

0.094

(iii) Capital work-in-progress

0.000

5.928

0.000

(iv) Intangible assets under development

0.000

0.000

0.000

(b) Non-current Investments

0.000

0.000

0.000

(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

0.000

0.000

0.000

Total Non-Current Assets

25.794

27.860

23.992

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.050

0.000

1.678

(b) Inventories

32.877

22.772

27.940

(c) Trade receivables

37.539

49.592

55.957

(d) Cash and cash equivalents

6.274

9.900

8.291

(e) Short-term loans and advances

0.230

1.485

1.191

(f) Other current assets

1.655

3.101

3.163

Total Current Assets

78.625

86.850

98.220

 

 

 

 

TOTAL

104.419

114.710

122.212

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

31.03.2014

31.03.2013

31.03.2012

 

SALES

 

 

 

 

Gross Receipts

128.936

181.089

192.753

 

Other Income

NA

NA

NA

 

TOTAL

NA

NA

NA

 

 

 

 

 

Less

EXPENSES

NA

NA

NA

 

 

 

 

 

 

PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION 

4.908

4.692

4.707

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION

3.932

3.197

3.327

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE TAX

0.976

1.495

1.380

 

 

 

 

 

Less

TAX

0.493

0.485

0.480

 

 

 

 

 

 

PROFIT/ (LOSS)  AFTER TAX 

0.483

1.010

0.900

 

 

 

 

 

 

Earnings / (Loss) Per Share (Rs.)

6.11

1.28

1.14

 

 

 

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 flows from (used in) operations

NA

NA

NA

 

 

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2014

31.03.2013

31.03.2012

Return on Total Assets

(PBT/Total Assets}

(%)

0.93

1.37

1.13

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

0.07

0.11

0.11

 

 

 

 

 

Debt Equity Ratio

(Total Debt /Networth)

 

4.04

3.01

2.98

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

1.16

0.96

0.99

 

 

 

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

7.900

7.900

7.900

Reserves & Surplus

4.708

5.718

6.201

Money received against share warrants

0.000

0.000

0.000

 Share Application money pending allotment

0.000

0.000

0.000

Net worth

12.608

13.618

14.101

 

 

 

 

long-term borrowings

9.333

9.377

21.022

Short term borrowings

28.274

31.559

35.986

Total borrowings

37.607

40.936

57.008

Debt/Equity ratio

2.983

3.006

4.043

 

 

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)

Gross Receipts

192.753

181.089

128.936

 

 

-6.051

-28.800

 

 

 

NET PROFIT MARGIN

 

Net Profit Margin

31.03.2012

31.03.2013

31.03.2014

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Gross Receipts

192.753

181.089

128.936

Profit

0.900

1.010

0.483

 

0.47%

0.56%

0.37%

 

 

 

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

No

18

Major suppliers

No

19

Major customers

No

20

Banking Details

Yes

21

Banking facility details

Yes

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

Yes

35

Negative Reporting by Auditors in the Annual Report

No

 

PERFORMANCE OF THE COMPANY

 

The gross receipts of the company during the twenty sixth year of operation amounted to Rs. 128.936 Million and reported an operating profit Rs. 4.908 Million

 

UNSECURED LOAN

 

Particulars

31.03.2014

(Rs. in Million)

31.03.2013

(Rs. in Million)

LONG TERM BORROWING

 

 

From other parties

 

 

Janalakshmi Financial Services Private Limited

1.327

0.000

Bajaj Auto Finance

1.808

3.050

Total

3.135

3.050

 

 

INDEX OF CHARGES

 

S.NO.

CHARGE ID

DATE OF CHARGE CREATION/MODIFICATION

CHARGE AMOUNT SECURED

CHARGE HOLDER

ADDRESS

SERVICE REQUEST NUMBER (SRN)

1

10449819

12/09/2013

1,500,000.00

JANALAKSHMI FINANCIAL SERVICES PRIVATE LIMITED

RAJASHREE SAROJA PLAZA, NO 34/1 ANDREE ROAD, SHAN
TI NAGAR, BANGALORE, KARNATAKA - 560071, INDIA

B85303352

2

90288415

28/09/2005

320,000.00

THE KARUR VYSYA BANK LTD

NO. 62; THIYAGARAYA ROAD, PONDY BAZAR T. NAGAR, C
HENNAI, TAMIL NADU - 600017, INDIA

-

3

90308525

04/04/2001

9,500,000.00

UCO BANK

T. NAGAR BRANCH, 47-48; SIR THEAGARAYA ROAD; POND
Y BAZAR; T. NAGAR, CHENNAI, TAMIL NADU - 600017, I
NDIA

-

4

90305280

05/02/2000

2,500,000.00

THE TAMIL NADU INDUSTRIAL INVESTMENT CORPORATION L
TD

C-48; II AVENUE, ANNA NAGAR, CHENNAI, TAMIL NADU
- 600040, INDIA

-

5

90303674

27/09/1996

550,000.00

THE TAMIL NADU INDUSTRIAL INVESTMENT CORPORATION L
TD

ARULMNNAI, 27; WHITES ROAD, MADRAS, TAMIL NADU -
600014, INDIA

-

6

90290124

19/09/2014 *

72,000,000.00

UCO BANK

67, BURKIT ROAD (G FLOOR), T.NAGAR, CHENNAI, TAMI
L NADU - 600017, INDIA

C26820902

7

90305015

28/08/2003 *

1,000,000.00

UCO BANK

T. NAGAR BRANCH, CHENNAI, TAMIL NADU - 600017, IND
IA

-

8

90304415

21/04/1993 *

400,000.00

UCO BANK

T. NAGAR BRANCH, 47-48; SIR THEAGARAYA ROAD; POND
Y BAZAR; T. NAGAR, CHENNAI, TAMIL NADU - 600017, I
NDIA

-

 

* Date of charge modification

 

 

FIXED ASSETS

 

 

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 :

KAM

 

 

Analysis Done by :

RAS

 

 

Report Prepared by :

KVT

 

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

4

PAID-UP CAPITAL

1~10

3

OPERATING SCALE

1~10

3

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

3

--PROFITABILITY

1~10

3

--LIQUIDITY

1~10

3

--LEVERAGE

1~10

2

--RESERVES

1~10

2

--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

 

27

 

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.