MIRA INFORM REPORT
|
Report No. : |
337562 |
|
Report Date : |
20.08.2015 |
IDENTIFICATION DETAILS
|
Name : |
GOODRICH AGRO CHEM PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
203-204, Vikas Tower, Plot No. 6, Sector – 8, Rohini, Delhi – 110085 |
|
Tel. No.: |
91-184-4043441/2268737 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
01.09.2003 |
|
|
|
|
Com. Reg. No.: |
55-122020 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 6.726 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24219DL2003PTC122020 |
|
|
|
|
IEC No.: |
Not Available |
|
|
|
|
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
: |
Manufacturer, Exporter and Importer of Pulp and Paper Specialty Chemicals,
Textile Printing thickeners and auxiliaries and botanical extracts. |
|
|
|
|
No. of Employees
: |
150 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Goodrich Agrochem Private Limited was incorporated in the year 2003
and it is established company having satisfactory track record. The company reported an operating income and net profit of Rs. 145.000
Million and Rs. 41.600 Million respectively in FY 2014 as against an
operating income and net profit and of Rs. 108.100 Million and Rs. 3.762
Million respectively in FY2013. Rating take into consideration on company healthy financial risk
profile, sound capital structure, and moderate debt protection metrics. It
further take into account on company established cliental base and experience
of the promoters in the industry. Trade relations are fair. Business is active. Payment terms are
reported to be usually correct. In view of decent operational and financial base, the company can be
considered normal for business dealings at its 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 |
CRISIL |
|
Rating |
SME = SE 2B and High Performance Capacity |
|
Rating Explanation |
Moderate Finance Stregnth |
|
Date |
October 2013 |
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. Ajay |
|
Designation : |
Account Head |
|
Contact No.: |
91-184-2268737 |
|
Date : |
20.08.2015 |
LOCATIONS
|
Registered Office : |
203-204, Vikas Tower, Plot No. 6, Sector – 8, Rohini, Delhi – 110085,
India |
|
Tel. No.: |
91-184-2268737/404344 |
|
Mobile No.: |
91-8059888864 (Mr. Rohit Gupta) |
|
Fax No.: |
91-184-2232766 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Head Office : |
S.C.O., 2, 3, 4 First Floor, Sector – 8, Karnal – 132001, Haryana,
India |
|
|
|
|
Factory : |
Meerut Road, Lanagal, Karnal – 132001, Haryana, India |
DIRECTORS
AS ON 30.09.2014
|
Name : |
Narinder Kumar |
|
Designation : |
Director |
|
Address : |
146-R, Model Town, Karnal – 132001, Haryana, India |
|
Date of Birth/Age : |
01.03.1950 |
|
Date of Appointment : |
03.09.2014 |
|
DIN No.: |
02460124 |
|
|
|
|
Name : |
Rohit Gupta |
|
Designation : |
Director |
|
Address : |
146-R, Model Town, Karnal – 132001, Haryana, India |
|
Date of Appointment : |
01.09.2003 |
|
DIN No.: |
02459520 |
KEY EXECUTIVES
|
Name : |
Mr. Ajay |
|
Designation : |
Account Head |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2014
|
Names of Shareholders |
|
No. of Shares |
|
Narinder Gupta |
|
131320 |
|
Daya Rani |
|
102550 |
|
Amit Kumar Gupta |
|
70350 |
|
Rohit Gupta |
|
51500 |
|
Rajat Gupta |
|
20300 |
|
Santosh Rani |
|
8000 |
|
Krishan Lal Atreja |
|
10000 |
|
Devinder Kumar Goel |
|
3500 |
|
Swaraj Gupta |
|
20000 |
|
Khushi Raj Gupta |
|
5000 |
|
Archana Goel |
|
7250 |
|
Guatar Singh Pannu |
|
5000 |
|
Daya Mati |
|
19000 |
|
Narinder Gupta (HUF) |
|
6300 |
|
Sharad Sharma |
|
4500 |
|
Jai Shree Finvest Pvt Ltd |
|
128000 |
|
Vanu Jain |
|
25000 |
|
Anil Jain |
|
25000 |
|
Dalip Singh |
|
30000 |
|
|
|
|
|
Total |
|
672570 |
Equity Share Break up (Percentage of Total Equity)
AS ON 30.09.2014
|
Category |
Percentage |
|
Bodies corporate |
19.10 |
|
Directors or relatives of Directors |
80.90 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer, Exporter and Importer of Pulp and Paper Specialty
Chemicals, Textile Printing thickeners and auxiliaries and botanical
extracts. |
|
|
|
|
Products : |
Not Divulged |
|
|
|
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Brand Names : |
Not Available |
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|
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Agencies Held : |
Not Available |
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|
|
|
Exports : |
|
|
Products : |
Finished Goods |
|
Countries : |
Hungary |
|
|
|
|
Imports : |
|
|
Products : |
Raw Material |
|
Countries : |
Thailand |
|
|
|
|
Terms : |
|
|
Selling : |
Advance Payment, L/C and Credit |
|
|
|
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Purchasing : |
Advance Payment, L/C and Credit |
GENERAL INFORMATION
|
Suppliers : |
Not Divulged
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Customers : |
Not Divulged
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No. of Employees : |
150 (Approximately) |
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Bankers : |
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Facilities : |
(Rs.
In Million)
|
|
Auditors : |
|
|
Name : |
Amit Ved and Associates Chartered Accountant |
|
Address : |
19, Mall Road, Shakti Colony, Railway Road, Karnal – 132001, Haryana, India |
|
PAN No.: |
AALFA8850H |
|
|
|
|
Memberships : |
-- |
|
|
|
|
Collaborators : |
-- |
|
|
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Associates/Subsidiaries : |
Goodrich Carbohydrates Limited, Karnal, Haryana, India |
CAPITAL STRUCTURE
AS ON 30.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
750000 |
Equity Shares |
Rs.10/- each |
Rs. 7.500 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
672570 |
Equity Shares |
Rs.10/- each |
Rs. 6.726
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 |
6.726 |
6.726 |
6.726 |
|
(b) Reserves & Surplus |
28.963 |
24.802 |
21.040 |
|
(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) |
35.689 |
31.528 |
27.766 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
22.856 |
16.555 |
20.373 |
|
(b) Deferred tax liabilities (Net) |
2.320 |
1.911 |
1.179 |
|
(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) |
25.176 |
18.466 |
21.552 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
23.598 |
18.983 |
19.364 |
|
(b) Trade
payables |
21.026 |
18.735 |
13.248 |
|
(c) Other
current liabilities |
9.059 |
4.601 |
3.570 |
|
(d) Short-term
provisions |
1.076 |
0.000 |
0.036 |
|
Total Current
Liabilities (4) |
54.759 |
42.319 |
36.218 |
|
|
|
|
|
|
TOTAL |
115.624 |
92.313 |
85.536 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
53.196 |
52.423 |
50.017 |
|
(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 |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
0.876 |
0.800 |
0.800 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
54.072 |
53.223 |
50.817 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
23.561 |
11.397 |
7.207 |
|
(c) Trade
receivables |
30.906 |
24.150 |
20.664 |
|
(d) Cash
and cash equivalents |
0.900 |
0.617 |
0.678 |
|
(e)
Short-term loans and advances |
6.098 |
2.877 |
6.170 |
|
(f) Other
current assets |
0.087 |
0.049 |
0.000 |
|
Total
Current Assets |
61.552 |
39.090 |
34.719 |
|
|
|
|
|
|
TOTAL |
115.624 |
92.313 |
85.536 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Income |
143.100 |
106.245 |
94.583 |
|
|
Other Income |
1.958 |
1.906 |
1.865 |
|
|
TOTAL |
145.058 |
108.151 |
96.448 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
TOTAL |
139.413 |
102.580 |
91.332 |
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
5.645 |
5.571 |
5.116 |
|
|
|
|
|
|
|
Less |
TAX |
1.485 |
1.809 |
1.915 |
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
4.160 |
3.762 |
3.201 |
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
6.19 |
5.59 |
4.76 |
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) |
(%) |
2.91 |
3.54 |
3.38 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
4.88 |
6.03 |
5.98 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.16 |
0.18 |
0.18 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
1.30 |
1.13 |
1.43 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.12 |
0.92 |
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 |
6.726 |
6.726 |
6.726 |
|
Reserves & Surplus |
21.040 |
24.802 |
28.963 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
27.766 |
31.528 |
35.689 |
|
|
|
|
|
|
long-term borrowings |
20.373 |
16.555 |
22.856 |
|
Short term borrowings |
19.364 |
18.983 |
23.598 |
|
Current Maturities of Long Term
Debt |
0.000 |
0.000 |
0.000 |
|
Total
borrowings |
39.737 |
35.538 |
46.454 |
|
Debt/Equity
ratio |
1.431 |
1.127 |
1.302 |
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 |
94.583 |
106.245 |
143.100 |
|
|
|
12.330 |
34.689 |
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 |
94.583 |
106.245 |
143.100 |
|
Profit |
3.201 |
3.762 |
4.160 |
|
|
3.38% |
3.54% |
2.91% |
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 |
---- |
|
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 |
NOTE: Registered office of the company has been
shifted from 910, GD ITL, Towers Netaji Subhash Place, Pitampura, New Delhi –
110034, India to the present address w.e.f.
15.01.2013.
UNSECURED LOAN
|
Particulars |
As
on 31.03.2014 |
As
on 31.03.2013 |
|
LONG TERM
BORROWING |
|
|
|
From directors |
2.060 |
4.396 |
|
From relatives of directors |
15.328 |
1.400 |
|
From corporates |
1.775 |
1.485 |
|
Others |
0.087 |
4.955 |
|
|
|
|
|
Total |
19.250 |
12.236 |
|
|
|
|
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10576296 |
06/06/2015 |
47,500,000.00 |
RELIANCE HOME FINANCE LIMITED |
570, Rectifier House, 3rd Floor, Naigaum Cross Road, Wadala, Mumbai, Maharashtra - 400031, INDIA |
C57113649 |
|
2 |
10477453 |
11/07/2014 * |
44,203,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, Maharashtra - 400013, INDIA |
C14637482 |
|
3 |
10199126 |
11/07/2014 * |
44,203,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, Maharashtra - 400013, INDIA |
C14945091 |
* Date of charge modification
FIXED ASSETS
- Air
Conditioner
- Buildings
- Computer
- Furniture and
Fixture
- Fire
Equipments
- Machinery
- Motor Cycle
- Office
Equipments
- Machinery
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. 65.25 |
|
UK Pound |
1 |
Rs. 102.25 |
|
Euro |
1 |
Rs. 72.20 |
INFORMATION DETAILS
|
Information
Gathered by : |
SPR |
|
|
|
|
Analysis Done by
: |
KAS |
|
|
|
|
Report Prepared
by : |
JYO |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILITY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
45 |
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 |
-- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.