MIRA INFORM REPORT
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Report No. : |
334922 |
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Report Date : |
04.08.2015 |
IDENTIFICATION DETAILS
|
Name : |
ANAND RATHI COMMODITIES LIMITED (W.E.F 09.03.2007) |
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Formerly Known
As : |
ANAND
RATHI COMMODITIES PRIVATE LIMITED (W.E.F 02.02.2007) NAVRATAN
COMMODITIES PRIVATE LIMITED (W.E.F 21.07.2006) NAVRATAN
COMDEX PRIVATE LIMITED PRITI
CAPITAL AND SECURITIES PRIVATE LIMITED |
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Registered
Office : |
4th Floor, Silver Metropolis, Jai Coach Compound, Opposite Bimbisar Nagar, Goregaon (East), Mumbai – 400063, Maharashtra |
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Tel. No.: |
91-22-40013700 |
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Country : |
India |
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Financials (as
on) : |
31.03.2014 |
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Date of Incorporation
: |
22.11.1991 |
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Com. Reg. No.: |
11-064107 |
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Capital
Investment / Paid-up Capital : |
Rs. 3.469 Million |
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CIN No.: [Company Identification
No.] |
U67120MH1991PLC064107 |
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IEC No.: |
Not Available |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
Not Available |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Subject is engaged in providing Financial/ Distribution services. |
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No. of Employees
: |
Information declined by the management
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RATING & COMMENTS
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MIRA’s Rating : |
Ba (41) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Exist |
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Comments : |
Subject is an established company having satisfactory track record. For the financial year ended 2014, company possesses below average
operational performance and sales turnover of the company has drastically
declined. However, rating takes into consideration company’s sound financial
risk profile marked by adequate net worth base and above average debt
protection metrics of the company. Trade relations are fair. Business is active. Payment terms are
reported to be slow but correct. In view of sound financial
base, the company can be considered for business dealings at usual trade
terms and condition. |
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
|
Rating Agency Name |
Not Available |
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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 DENIED BY
|
Name : |
Mr. Praksash |
|
Designation : |
Account Department |
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Contact No.: |
91-22-40013700 |
|
Date : |
31.07.2015 |
LOCATIONS
|
Registered Office : |
4th Floor, Silver Metropolis, Jai Coach Compound, Opposite Bimbisar Nagar, Goregaon (East), Mumbai – 400063, Maharashtra, India |
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Tel. No.: |
91-22-40013700 |
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Fax No.: |
91-22-40013770 |
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E-Mail : |
dhavalashar@rathi.com |
DIRECTORS
AS ON 26.09.2014
|
Name : |
Priti Pradeep Gupta |
|
Designation : |
Whole-Time Director |
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Address : |
37a, Yashodham Complex, Film City Road, Goregaon, (East), Mumbai, 400063, Maharashtra, India |
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Date of Birth/Age : |
23.11.1970 |
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Date of Appointment : |
22.11.1991 |
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DIN No.: |
00030350 |
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Name : |
Amit Anand Rathi |
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Designation : |
Director |
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Address : |
284 - 15, Kalpataru Horizon,, S.K. Ahire Marg, Worli,, Mumbai, 400018, Maharashtra, INDIA |
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Date of Birth/Age : |
07.10.1974 |
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Date of Appointment : |
20.08.2003 |
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DIN No.: |
00029791 |
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Name : |
Pradeep Kumar Gupta |
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Designation : |
Director |
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Address : |
37a, Yashodham, Film City Road, Goregaon, (East), Mumbai, 400063, Maharashtra, India |
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Date of Birth/Age : |
20.07.1967 |
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Date of Appointment : |
20.08.2003 |
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DIN No.: |
00040117 |
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Name : |
Roop Kishor Bhootra |
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Designation : |
Director |
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Address : |
503 B Wing, Raheja Reflection, Regent Court,Thakur, Village, K Raheja Universal Private Limited, Borivali (E)., Mumbai, 400066, Maharashtra, India |
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Date of Birth/Age : |
09.07.1973 |
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Date of Appointment : |
18.11.2009 |
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DIN No.: |
00033180 |
KEY EXECUTIVES
|
Name : |
Mr. Praksash |
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Designation : |
Account Department |
MAJOR SHAREHOLDERS
AS ON 26.09.2014
|
Names of Shareholders |
|
No. of Shares |
|
Anand Rathi |
|
346844 |
|
Amit Rathi |
|
1 |
|
Pradeep Gupta |
|
1 |
|
Priti Gupta |
|
1 |
|
Navaratanmal Gupta |
|
1 |
|
Sushila Devi Gupta |
|
1 |
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Total |
|
346850 |
Equity Share Break up (Percentage of Total Equity)
AS ON 26.09.2014
|
Category |
Percentage |
|
Bodies corporate |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Subject is engaged in providing Financial/ Distribution services. |
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Products/ Services : |
Financial/ Distribution services |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
Not Divulged |
PRODUCTION STATUS: NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
Information declined by the management
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Bankers : |
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Facilities : |
(Rs.
In Million)
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Auditors : |
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Name : |
Paresh D. Shah and Company Chartered Accountants |
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Address : |
56, K. J. Trust Building, 1st Floor, 34-A, Khadak Street,
Masjid bandar (West), Mumbai - 400009, Maharashtra, India |
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Tel No.: |
91-2347-8234/ 2345 6330 |
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Mobile No.: |
91-9820084736 |
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Fax No.: |
91-2347-8234 |
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Email: |
shahcons@rocketmail.com |
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PAN N Income-tax PAN of auditor or auditor's firm : |
AAJUS5526Q |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Holding Company: |
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Subsidiaries of Holding Company’s: |
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Other Group Company: |
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CAPITAL STRUCTURE
AS ON 26.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
|
|
|
|
500000 |
Equity Shares |
Rs.10/- each |
Rs.5.000 Million |
|
525000 |
Preference shares |
Rs.10/- each |
Rs. 5.250 Million |
|
|
Total |
|
Rs. 10.250
Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
|
|
|
|
346850 |
Equity Shares |
Rs.10/- each |
Rs.3.469
Million |
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FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
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I.
EQUITY AND LIABILITIES |
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(1)Shareholders' Funds |
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(a) Share Capital |
3.469 |
3.469 |
3.469 |
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(b) Reserves &
Surplus |
101.754 |
88.597 |
75.667 |
|
(c) Money received
against share warrants |
0.000 |
0.000 |
0.000 |
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(2) Share Application
money pending allotment |
0.000 |
0.000 |
0.000 |
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Total Shareholders’ Funds
(1) + (2) |
105.223 |
92.066 |
79.136 |
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(3) Non-Current
Liabilities |
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(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
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(b) Deferred tax
liabilities (Net) |
0.351 |
0.011 |
0.556 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
0.000 |
0.000 |
0.000 |
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Total Non-current
Liabilities (3) |
0.351 |
0.011 |
0.556 |
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(4) Current Liabilities |
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|
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(a) Short term borrowings |
47.500 |
0.000 |
50.497 |
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(b) Trade payables |
499.242 |
1186.548 |
1213.256 |
|
(c) Other current
liabilities |
21.265 |
24.544 |
24.733 |
|
(d) Short-term provisions |
0.045 |
1.249 |
2.197 |
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Total Current Liabilities
(4) |
568.052 |
1212.341 |
1290.683 |
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TOTAL |
673.626 |
1304.418 |
1370.375 |
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II.
ASSETS |
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(1) Non-current assets |
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(a) Fixed Assets |
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(i) Tangible assets |
5.093 |
5.876 |
7.497 |
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(ii) Intangible Assets |
0.314 |
0.631 |
0.734 |
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(iii) Capital
work-in-progress |
0.000 |
0.000 |
0.000 |
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(iv) Intangible assets
under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
61.513 |
84.740 |
109.240 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
15.425 |
10.514 |
0.865 |
|
(e) Other Non-current
assets |
0.000 |
0.000 |
7.343 |
|
Total Non-Current Assets |
82.345 |
101.761 |
125.679 |
|
|
|
|
|
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(2) Current assets |
|
|
|
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(a) Current investments |
0.000 |
0.000 |
0.000 |
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(b) Inventories |
0.000 |
0.000 |
0.000 |
|
(c) Trade receivables |
251.963 |
859.073 |
781.349 |
|
(d) Cash and cash
equivalents |
284.947 |
309.018 |
361.147 |
|
(e) Short-term loans and
advances |
12.120 |
20.837 |
90.317 |
|
(f) Other current assets |
42.251 |
13.729 |
11.883 |
|
Total Current Assets |
591.281 |
1202.657 |
1244.696 |
|
|
|
|
|
|
TOTAL |
673.626 |
1304.418 |
1370.375 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Income |
251.100 |
380.625 |
389.077 |
|
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Other Income |
38.748 |
47.466 |
32.874 |
|
|
TOTAL (A) |
289.848 |
428.091 |
421.951 |
|
|
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|
|
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|
Less |
EXPENSES |
|
|
|
|
|
Employees benefits
expense |
122.854 |
178.480 |
169.688 |
|
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Other expenses |
133.839 |
212.652 |
197.204 |
|
|
TOTAL (B) |
256.693 |
391.132 |
366.892 |
|
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|
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Less |
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION (C) |
33.155 |
36.959 |
55.059 |
|
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|
|
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|
Less |
FINANCIAL EXPENSES (D) |
14.678 |
14.789 |
33.060 |
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|
PROFIT / (LOSS) BEFORE TAX,
DEPRECIATION AND AMORTISATION (C-D) (E) |
18.477 |
22.170 |
21.999 |
|
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|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
1.100 |
1.274 |
-0.078 |
|
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|
PROFIT/ (LOSS) BEFORE TAX
(E-F) (G) |
17.377 |
20.896 |
22.077 |
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|
|
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|
Less |
TAX (H) |
4.221 |
7.735 |
5.876 |
|
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|
PROFIT/ (LOSS) AFTER TAX (G-H)
(I) |
13.156 |
13.161 |
16.201 |
|
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|
|
|
|
|
|
Earnings / (Loss) Per
Share (Rs.) |
37.93 |
37.94 |
46.71 |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current Maturities of Long term debt |
0.000 |
0.255 |
NA |
|
Cash generated from operations |
(111.499) |
(48.121) |
83.958 |
|
Net cash from operating activities |
(116.240) |
(57.868) |
80.948 |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
5.24 |
3.46 |
4.16 |
|
|
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|
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|
Operating Profit Margin (PBIDT/Sales) |
(%) |
13.20 |
9.71 |
14.15 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
2.84 |
1.71 |
1.75 |
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Return on Investment (ROI) (PBT/Networth) |
|
0.17 |
0.23 |
0.28 |
|
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|
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|
Debt Equity Ratio (Total Debt /Networth) |
|
0.45 |
0.00 |
0.64 |
|
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|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.04 |
0.99 |
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 |
3.469 |
3.469 |
3.469 |
|
Reserves & Surplus |
75.667 |
88.597 |
101.754 |
|
Net worth |
79.136 |
92.066 |
105.223 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
50.497 |
0.000 |
47.500 |
|
Total borrowings |
50.497 |
0.255 |
47.500 |
|
Debt/Equity ratio |
0.638 |
0.003 |
0.451 |
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 |
389.077 |
380.625 |
251.100 |
|
|
|
(2.172) |
(34.030) |
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 |
389.077 |
380.625 |
251.100 |
|
Profit |
16.201 |
13.161 |
13.156 |
|
|
4.16% |
3.46% |
5.24% |
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 |
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 |
No |
|
32 |
Litigations that the firm/promoter
involved in |
Yes |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
NOTE: Registered office of the company has been
shifted from 5th, Floor, B-2, Shubham Centre, Cardinal Gracious Road,
Chakala, Andheri (E), Mumbai – 400099, Maharashtra, INDIA to the present address w.e.f. 23.12.2009
LITIGATION DETAILS
|
CASE DETAILS |
|||
|
BENCH:-BOMBAY |
|||
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PRESENTATION DATE:- 08/04/2015 |
|||
|
Lodging No.:- NMSL/1034/2015 |
Filing Date:- 08/04/2015 |
Reg. No.:- NMS/735/2015 |
Reg. Date: 04/06/2015 |
|
Lodging No.:- SL/14/2014 |
Main Matter Reg No.:- S/173/2014 |
||
|
Petitioner:-MODERN INDIA LTD AND 3 ORS |
Respondent:- ANAND RATHI COMMODITIES LTD |
||
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District:- MUMBAI |
Resp.Adv.:- NAIK NAIK AND COMPANY (17932) |
||
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Bench:- SINGLE |
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Status:- Pre-Admission |
Category:- NOTICE OF MOTION |
||
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Last Date:- 28/07/2015 |
Stage:- |
||
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Last Coram:- HON'BLE SHRI JUSTICE S.J. KATHAWALLA |
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||
|
Act :- Code of Civil Procedure 1908 Code of Civil Procedure 1908 |
|||
OPERATIONS AND FUTURE
PROSPECTS:
The Company’s revenue has declined to Rs. 289.849 Million during the year compared to Rs. 428.092 Million In the previous year. Total Expenses however reduced to Rs. 272.472 Million during the year compared to Rs.0.7196 Million in the previous year which has resulted in net profit remaining almost at same level at Rs. 13.157 Million as against Rs. 13.161 Million in the previous year.
The Commodities Broking business has suffered as a result of suspension of trading at National Spot Exchange Limited (NSEL) platform w.e.f. July 31, 2013. Their clients had invested in NSEL and had outstanding recoverable amount of Rs. 6133.900 Million from NSEL as on 31st March, 2014. They have filed a criminal complaint along with few other brokers and their investors against NSEL and other entities with the Economic Offence wing (EOW). These amounts are payable to clients as and when and to the extent the same are received from NSEL.
INDEX OF CHARGES: NO
CHARGES EXIST FOR COMPANY
CONTINGENT
LIABILITIES:
(Rs. in million)
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
|
Counter guarantee issued by Bank |
319.300 |
438.000 |
|
Total |
319.300 |
438.000 |
FIXED ASSETS
Tangible Assets
- Furniture and
Fixture
- Motor
Vehicles
- Air
Conditioners
Intangible Assets
- Software
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.63.96 |
|
UK Pound |
1 |
Rs.99.93 |
|
Euro |
1 |
Rs.70.16 |
INFORMATION DETAILS
|
Information
Gathered by : |
GYT |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
GTA |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILITY |
1~10 |
4 |
|
--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 |
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 |
|
41 |
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 |
|
ss |
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.