MIRA INFORM REPORT
|
Report No. : |
337823 |
|
Report Date : |
22.08.2015 |
IDENTIFICATION DETAILS
|
Name : |
ELLIOT EBARA TURBOMACHINERY INDIA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
G-05, Ground Floor, Prestige
Meridian 1, 29 M.G Road, Bangalore – 560001, Karnataka |
|
Tel. No.: |
91-80-30625001 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as on)
: |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
17.08.2009 |
|
|
|
|
Com. Reg. No.: |
08-050649 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 0.978 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74900KA2009FTC050649 |
|
|
|
|
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
: |
The Company operates in two business group viz., industrial products
and Global Service. The Industrial Products group of the company provides
support service which includes co –ordination and management of licensing
agreement of the parent company as well as the other group companies in India
and elsewhere. The Global services group of the company provides customer
with aftermarket support which includes field service, design engineering,
fabrication, project management, re-engineering, shop repair and parts
replacement. The company also provides sales agency services to group
affiliates for aftermarket support. |
|
|
|
|
No. of Employees
: |
Not Divulged |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (42) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 699000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is step down subsidiary of EBARA CORPORATION, JAPAN. It was
incorporated on 17th August 2009 having satisfactory track record. The company has reported declined in its total income as well as profit
margin during the year under review. The rating on company gain strength on healthy financial risk profile,
decent net worth base marked by zero debt balance sheet profile. Rating
further take into account on strong financial and managerial support it
receives from its ultimate holding company. Trade relations are fair. Business is active. Payment terms are slow
but correct. In view of strong backing from holding company, the company can be
considered 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
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 DECLINED BY
|
Name : |
Mr. Sadanand Bhavanishankar |
|
Designation : |
Director |
|
Contact No.: |
91-80-30625001 |
|
Date : |
21.08.2015 |
LOCATIONS
|
Registered Office : |
G-05, Ground Floor, Prestige
Meridian 1, 29 M.G Road, Bangalore – 560001, Karnataka, India |
|
Tel. No.: |
91-80-30625001 |
|
Fax No.: |
Not Available |
|
E-Mail : |
DIRECTORS
AS ON 22.09.2014
|
Name : |
Mr. Sadanand Bhavanishankar |
|
Designation : |
Director |
|
Address : |
620, 6th, B Main, JP Nagar Phase III Bangalore - 560078, Karnataka, India |
|
Date of Birth/Age : |
15.04.1962 |
|
Date of Appointment : |
02.05.2011 |
|
DIN No.: |
02708878 |
|
|
|
|
Name : |
Mr. Joseph Valentino Medina |
|
Designation : |
Director |
|
Address : |
3, Anthony Road, No. 03-05, Singapore - 229953, United States Of America |
|
Date of Birth/Age : |
30.08.1953 |
|
Date of Appointment : |
22.09.2014 |
|
DIN No.: |
06891295 |
|
|
|
|
Name : |
Mr. Mamoru Kura |
|
Designation : |
Director |
|
Address : |
2-17-7-506, Kamata, Ota-Ku, Tokyo -1440052, Japan |
|
Date of Birth/Age : |
17.08.1960 |
|
Date of Appointment : |
22.09.2014 |
|
DIN No.: |
06891298 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 22.09.2014
|
Names of Shareholders |
No. of Shares |
Percentage of Holding |
|
Elliott Company |
500 |
0.51 |
|
Elliott Ebara Turbomachinery corporation, Japan |
97299 |
99.49 |
|
|
|
|
|
Total |
97799 |
100.00 |
AS ON 22.09.2014
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
100.00 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
The Company operates in two business group viz., industrial products
and Global Service. The Industrial Products group of the company provides support
service which includes co –ordination and management of licensing agreement
of the parent company as well as the other group companies in India and
elsewhere. The Global services group of the company provides customer with
aftermarket support which includes field service, design engineering,
fabrication, project management, re-engineering, shop repair and parts
replacement. The company also provides sales agency services to group
affiliates for aftermarket support. |
|
|
|
|
Brand Names : |
-- |
|
|
|
|
Agencies Held : |
-- |
|
|
|
|
Exports : |
Not Divulged |
|
|
|
|
Imports : |
Not Divulged |
|
|
|
|
Terms : |
Not Divulged |
PRODUCTION STATUS: NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Customers : |
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
No. of Employees : |
Not Divulged |
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Bankers : |
|
|
Auditors : |
|
|
Name : |
S V Ghatalia and Associates Chartered Accountants |
|
Address : |
UB City, Canberra Block, 12th and 13th Floor, Vittal Malya Road,
Bengaluru – 560001, Karnataka, India |
|
Income-tax
PAN of auditor or auditor's firm : |
ACHFS9181P |
|
|
|
|
Memberships : |
-- |
|
|
|
|
Collaborators : |
-- |
|
|
|
|
Holding Company : |
Elliott Ebara Turbomachinery Corporation, Japan |
|
|
|
|
Ultimate Holding Company : |
Ebara Corporation, Japan |
|
|
|
|
Fellow Subsidiary : |
· Elliott Ebara Singapore Pte Limited, Singapore · Elliott Turbomachinery SA, Switzerland |
CAPITAL STRUCTURE
AS ON 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
650,000 |
Equity Shares |
Rs. 10/- each |
Rs. 6.500 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
97,799 |
Equity Shares |
Rs. 10/- each |
Rs. 0.978
Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2014 |
31.03.2013 |
31.12.2011 |
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
0.978 |
0.978 |
0.705 |
|
(b) Reserves & Surplus |
243.640 |
225.318 |
6.274 |
|
(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) |
244.618 |
226.296 |
6.979 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c)
Other long term liabilities |
0.000 |
0.000 |
0.000 |
|
(d)
long-term provisions |
3.257 |
2.612 |
0.000 |
|
Total
Non-current Liabilities (3) |
3.257 |
2.612 |
0.000 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
(b)
Trade payables |
40.137 |
26.311 |
16.939 |
|
(c)
Other current liabilities |
9.097 |
2.323 |
14.067 |
|
(d)
Short-term provisions |
13.442 |
12.365 |
|
|
Total
Current Liabilities (4) |
62.676 |
40.999 |
31.006 |
|
|
|
|
|
|
TOTAL |
310.551 |
269.907 |
37.985 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
2.987 |
1.967 |
1.014 |
|
(ii)
Intangible Assets |
0.206 |
0.239 |
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) |
8.523 |
3.626 |
0.343 |
|
(d) Long-term Loan and
Advances |
52.717 |
5.048 |
2.073 |
|
(e)
Other Non-current assets |
0.000 |
0.000 |
0.165 |
|
Total
Non-Current Assets |
64.433 |
10.880 |
3.595 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
0.000 |
0.000 |
0.000 |
|
(c)
Trade receivables |
40.604 |
26.531 |
15.387 |
|
(d)
Cash and cash equivalents |
149.332 |
211.947 |
15.115 |
|
(e)
Short-term loans and advances |
5.210 |
1.470 |
0.000 |
|
(f)
Other current assets |
50.972 |
19.079 |
3.888 |
|
Total
Current Assets |
246.118 |
259.027 |
34.390 |
|
|
|
|
|
|
TOTAL |
310.551 |
269.907 |
37.985 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.12.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
144.388 |
|
|
|
|
|
Other Income |
17.680 |
4.457 |
|
|
|
|
TOTAL (A) |
162.068 |
300.792 |
44.193 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
130.978 |
199.594 |
41.662 |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
31.090 |
101.198 |
2.531 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
1.349 |
0.844 |
0.475 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
29.741 |
100.354 |
2.056 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
11.420 |
33.829 |
0.928 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
18.321 |
66.525 |
1.128 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
Sale of Service |
51.115 |
39.534 |
0.000 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
Purchase of
trader Goods |
15.578 |
62.983 |
0.000 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
187.33 |
677.43 |
16.00 |
|
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
31.03.2013 |
31.12.2011 |
|
Current Maturities of Long term debt |
NA |
NA |
NA |
|
|
|
|
|
|
Cash Generated from Operations |
NA |
NA |
NA |
|
|
|
|
|
|
Net Cash Flow from used in Operations |
NA |
NA |
NA |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.12.2011 |
|
Net Profit Margin (PAT / Sales) |
(%) |
12.69 |
22.45 |
2.55 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
9.85 |
37.69 |
5.46 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.12 |
0.44 |
0.29 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
3.93 |
6.32 |
1.11 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particular |
31.12.2011 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Share Capital |
0.705 |
0.978 |
0.978 |
|
Reserves & Surplus |
6.274 |
225.318 |
243.640 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
6.979 |
226.296 |
244.618 |
|
|
|
|
|
|
Long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Total
borrowings |
0.000 |
0.000 |
0.000 |
|
Debt/Equity
ratio |
0.000 |
0.000 |
0.000 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.12.2011 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Sales |
44.193 |
300.792 |
162.068 |
|
|
|
580.633 |
-46.120 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.12.2011 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Sales |
44.193 |
300.792 |
162.068 |
|
Profit |
1.128 |
66.525 |
18.321 |
|
|
2.55% |
22.12% |
11.30% |
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 |
No |
|
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: NO
CHARGES EXIST FOR COMPANY
CHANGE OF ADDRESS:
The Registered Office of the Company has been shifted from Unit 505-506,
Prestige Meridian – I, 29, Mg. G. Road, Bangalore – 560001, Karnataka, India to
the present address w.e.f. 01.012.2012
CORPORATE INFORMATION
The Company was incorporated on August 17, 2009 under the companies Act,
1956. The Company operates in two business group viz., industrial products and
Global Service. The Industrial Products group of the company provides support
service which includes co –ordination and management of licensing agreement of
the parent company as well as the other group companies in India and elsewhere.
The Global services group of the company provides customer with aftermarket
support which includes field service, design engineering, fabrication, project
management, re-engineering, shop repair and parts replacement. The company also
provides sales agency services to group affiliates for aftermarket support.
FIXED ASSETS:
Tangible Assets
· Leasehold Improvements
· Plant and Machinery
· Furniture and fixtures
· Office Equipment’s
· Computer
Intangible Assets
· Software’s
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.65.83 |
|
|
1 |
Rs.103.39 |
|
Euro |
1 |
Rs.74.27 |
INFORMATION DETAILS
|
Information
Gathered by : |
GYT |
|
|
|
|
Analysis Done by
: |
KAS |
|
|
|
|
Report Prepared
by : |
ARC |
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 |
|
--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 |
|
42 |
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.