MIRA INFORM REPORT

 

 

Report No. :

352028

Report Date :

02.11.2015

 

IDENTIFICATION DETAILS

 

Name :

PNEUCON VALVES PRIVATE LIMITED

 

 

Registered Office :

Plot No. A-35, Road No. 10, Wagle Industrial Estate, Thane – 400604, Maharashtra

Tel. No.:

91-22-25838712/25838369

 

 

Country :

India

 

 

Financials (as on) :

31.03.2014

 

 

Date of Incorporation :

11.10.1996

 

 

Com. Reg. No.:

11-103234

 

 

Capital Investment / Paid-up Capital :

Rs. 1.000 Million

 

 

CIN No.:

[Company Identification No.]

U99999MH1996PTC103234

 

 

IEC No.:

0399044451

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

Not Available

 

 

PAN No.:

[Permanent Account No.]

AABCP7611G

 

 

Legal Form :

Private Limited Liability Company.

 

 

Line of Business :

Manufacturer, Exporter and Importer of globe 2 way valve, globe 3 way valves, diaphragm valves, moulded butterfly valves etc. (Confirmed by management)

 

 

No. of Employees :

65 (Approximately)

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba (46)

 

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 :

Subject is an established company incorporated in the year 1996, having satisfactory track.

 

Rating takes consideration sound financial risk profile of the company marked by adequate neworth base and comfortable gearing in FY14.

 

Further the company has reported significant increase in sales turnover and profit along with decent profit margin of nearly 3% in the year under consideration.

 

Trade relations are fair. Business is active. Payment terms are reported to be usually correct.

 

In view of long track record of business operations along with decent financial condition, the company can be considered for business dealings with 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

Not Available

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 31-03-2015.

 

 

INFORMATION PARTED BY

 

Name :

Mr. Hemant Patel

Designation :

Account Executive

Contact No.:

91-8879779839

Date :

28.11.2015

 

 

LOCATIONS

 

Registered Office/ Factory :

Plot No. A-35, Road No. 10, Wagle Industrial Estate, Thane – 400604, Maharashtra, India

Tel. No.:

91-22-25838712/25838369

Mobile No.:

91-8879779839 (Mr. Hemant)

Fax No.:

91-2225838373

E-Mail :

info@pneuconvalves.com

Website :

http://www.pneuconvalves.com

Area :

10000 sq. ft.

Location :

Owned

Locality :

Industrial

 

 

Branch :

No. 3801, 12th Cross, Kumaraswamy Layout, 2nd Stage, Bangalore – 560078, Karnataka, India

Tel. No.:

91-80-26668712

Mob. No.:

91-9342192092 (Mr. M.S. Kalyanraman)

Fax No.:

91-80-26668712

E-Mail :

mskalyan53@rediffmail.com

 

 

DIRECTORS

 

AS ON 30.09.2014

 

Name :

Moolchand Jethwani Changomal

Designation :

Director

Address :

B 1001 10th Floor, Willow Twin Tower, Off B R Road, Mulund West, Mumbai - 400080, Maharashtra, India

Date of Birth/Age :

29.09.1957

Date of Appointment :

11.10.1996

DIN No.:

01962111

Other Directorship:

S.No.

CIN/LLPIN

Name of the Company/ LLP

Current designation of the Director/ Designated Partner

Date of appointment at current designation

Original date of appointment

Date of cessation

Company/ LLP Status

Defaulting status

1

U99999MH1996PTC103234

PNEUCON VALVES PRIVATE LIMITED

Director

11/10/1996

11/10/1996

-

Active

NO

2

U29253MH2012PTC234830

PNEUCON AUTOVALVE PRIVATE LIMITED

Director

23/08/2012

23/08/2012

-

Active

NO

 

 

Name :

Debisingh Changomal Jethwani

Designation :

Managing Director

Address :

A-901, Golden Willows, Vasant Garden, Off B R Road, Mulund (West), Mumbai - 400080, Maharashtra, India

Date of Birth/Age :

23.07.1950

Date of Appointment :

11.10.1996

DIN No.:

01882889

 

 

Name :

Jaiprakash Nichaldas Chawla

Designation :

Director

Address :

601, Teak Wood Co-operative Housing Society, Vasant Gardens, Off LBS Marg, Mulund (West), Mumbai - 400080, Maharashtra, India

Date of Birth/Age :

14.03.1958

Date of Appointment :

09.02.2015

DIN No.:

01882796

Other Directorship:

S.No.

CIN/LLPIN

Name of the Company/ LLP

Current designation of the Director/ Designated Partner

Date of appointment at current designation

Original date of appointment

Date of cessation

Company/ LLP Status

Defaulting status

1

U99999MH1996PTC103234

PNEUCON VALVES PRIVATE LIMITED

Director

09/02/2015

11/10/1996

-

Active

NO

2

U29253MH2011PTC219599

PNEUCON AUTOMATION PRIVATE LIMITED

Director

08/07/2011

08/07/2011

-

Active

NO

3

U29253MH2012PTC234830

PNEUCON AUTOVALVE PRIVATE LIMITED

Director

23/08/2012

23/08/2012

-

Active

NO

 

 

KEY EXECUTIVES

 

Name :

Mr. Hemant Patel

Designation :

Account Executive

 

 

MAJOR SHAREHOLDERS

 

AS ON 30.09.2014

 

Names of Shareholders

 

No. of Shares

Debisingh Changomal Jethwani

 

29000

Pradeep Jethwani

 

5000

Chavi Jethwani

 

5000

Kamla Jethwani

 

1000

Moolchand Jethwani

 

22500

Deepa Jethwani

 

1500

Kanahaiya Jethwani

 

2000

Pushpa Jethwani

 

3000

Jyoti Jethwani

 

500

Jimmi Jethwani

 

500

Jaiprakash Nichaldas Chawla

 

20000

Asha Chawla

 

10000

 

 

 

Total

 

100000

 

Equity Share Break up (Percentage of Total Equity)

 

AS ON 30.09.2014

 

Category

Percentage

Directors or relatives of Directors

100.00

Total

100.00

 

 

 

BUSINESS DETAILS

 

Line of Business :

Manufacturer, Exporter and Importer of globe 2 way valve, globe 3 way valves, diaphragm valves, moulded butterfly valves etc. (Confirmed by management)

 

 

Products :

Not Divulged

 

 

Brand Names :

Not Available

 

 

Agencies Held :

Not Available

 

 

Exports :

 

Products :

Finished Goods

Countries :
  • UK
  • Dubai

 

 

Imports :

 

Products :

Raw Material

Countries :

Korea

 

 

Terms :

 

Selling :

Cash, L/C and Credit

 

 

Purchasing :

Cash, L/C 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 :

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 :

65 (Approximately)

 

 

Bankers :

Banker Name

ICICI Bank

Branch Address

Thane, Maharashtra, 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
  • Thane Bharat Sahakari Bank Limited, Naupada, Thane, Maharashtra, India

 

 

Facilities :

(Rs. In Million)

 

SECURED LOAN

As on

31.03.2014

As on

31.03.2013

LONG TERM BORROWING

 

 

Term from banks

0.810

1.478

 

 

 

Total

0.810

1.478

 

Auditors :

 

Name :

Mahesh Keshav Madkholkar

Chartered Accountants

Address :

Unit 701/A, Wifi Park Near MIDC, Wagle Industrial Area, Thane – 400604, Maharashtra, India

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

ACLPM4050H

 

 

Memberships :

Not Available

 

 

Collaborators :

Not Available

 

 

Associates/Subsidiaries :
  • Pneucon Autovalve Private Limited
  • Pneucon Automation Private Limited

 

 

CAPITAL STRUCTURE

 

AS ON 30.09.2014

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

100000

Equity Shares

Rs.10/- each

Rs. 1.000 Million

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

100000

Equity Shares

Rs.10/- each

Rs. 1.000 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

1.000

1.000

1.000

(b) Reserves & Surplus

38.272

29.930

21.897

(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)

39.272

30.930

22.897

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

4.685

4.103

4.653

(b) Deferred tax liabilities (Net)

0.000

0.000

0.000

(c) Other long term liabilities

0.000

0.000

0.112

(d) long-term provisions

0.000

0.000

0.000

Total Non-current Liabilities (3)

4.685

4.103

4.765

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

0.000

0.000

0.000

(b) Trade payables

28.075

22.962

22.732

(c) Other current liabilities

8.205

8.505

8.594

(d) Short-term provisions

4.196

4.048

3.451

Total Current Liabilities (4)

40.476

35.515

34.777

 

 

 

 

TOTAL

84.433

70.548

62.439

 

 

 

 

II.            ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

14.142

14.562

14.610

(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)

0.250

0.250

0.250

(d)  Long-term Loan and Advances

0.689

0.639

0.580

(e) Other Non-current assets

0.000

0.000

0.000

Total Non-Current Assets

15.081

15.451

15.440

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

12.023

10.519

8.016

(c) Trade receivables

57.617

43.699

39.803

(d) Cash and cash equivalents

(4.380)

(2.991)

(3.540)

(e) Short-term loans and advances

0.208

0.390

0.241

(f) Other current assets

3.884

3.480

2.479

Total Current Assets

69.352

55.097

46.999

 

 

 

 

TOTAL

84.433

70.548

62.439

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

31.03.2014

 

31.03.2013

31.03.2012

 

SALES

 

 

 

 

Income

251.689

247.172

229.245

 

Other Income

NA

NA

NA

 

TOTAL                                    

NA

NA

NA

 

 

 

 

 

Less

EXPENSES

 

 

 

 

TOTAL                                    

NA

NA

NA

 

 

 

 

 

 

PROFIT/ (LOSS) BEFORE TAX

12.489

12.023

10.283

 

 

 

 

 

Less

TAX                                                                 

4.247

3.991

3.452

 

 

 

 

 

 

PROFIT/ (LOSS) AFTER TAX

8.242

8.032

6.831

 

 

 

 

 

Add

PREVIOUS YEARS’ BALANCE BROUGHT FORWARD

29.929

21.897

NA

 

 

 

 

 

 

BALANCE CARRIED TO THE B/S

38.171

29.929

NA

 

 

 

 

 

 

Earnings Per Share (Rs.)

82.42

80.32

68.31

 

Particulars

 

 

 

31.03.2015

Sales Turnover (Approximately)

 

 

226.800

 

 

 

 

 

The above information has been parted by Mr. Hemant Patel (Account Executive)

 

 

 

 

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

Net Profit Margin

(PAT / Sales)

(%)

3.27

3.25

2.98

 

 
 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)

14.84

17.10

16.54

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

0.32

0.39

0.45

 

 

 

 

 

Debt Equity Ratio

(Total Debt /Networth)

 

0.12

0.13

0.20

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

1.71

1.55

1.35

 

 

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

1.000

1.000

1.000

Reserves & Surplus

21.897

29.930

38.272

Share Application money pending allotment

0.000

0.000

0.000

Net worth

22.897

30.930

39.272

 

 

 

 

long-term borrowings

4.653

4.103

4.685

Short term borrowings

0.000

0.000

0.000

Current Maturities of Long Term Debt

0.000

0.000

0.000

Total borrowings

4.653

4.103

4.685

Debt/Equity ratio

0.203

0.133

0.119

 

 

 

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

229.245

247.172

251.689

 

 

7.820

1.827

 

 

 

 

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

229.245

247.172

251.689

Profit

6.831

8.032

8.242

 

2.98%

3.25%

3.27%

 

 

 

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

Yes

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

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 four 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

Yes

35

Negative Reporting by Auditors in the Annual Report

No

 

 

NOTE: Registered office of the company has been shifted from Plot No.1, Survey No. 235B, Near Bayer India, Behind Chaudhry Rolling Mills, Kolshet, Thane – 400607, Maharashtra, India to the present address w.e.f. 20.11.2007.

 

 

UNSECURED LOAN

 

(Rs. In Million)

Particulars

As on

31.03.2014

As on

31.03.2013

LONG TERM BORROWING

 

 

Loans and advances from related parties

3.875

2.625

 

 

 

Total

3.875

2.625

 

 

 

 

 

INDEX OF CHARGES

 

S.No.

Charge ID

Date of Charge Creation/Modification

Charge amount secured

Charge Holder

Address

Service Request Number (SRN)

1

10587713

30/07/2015

7,500,000.00

THANE BHARAT SAHAKARI BANK LIMITED

RIMZIM PREMISES, VISHNU NAGAR, NAUPADA, THANE (WEST), THANE, Maharashtra - 400601, INDIA

C62453303

2

10262923

22/09/2009

2,600,000.00

SMALL INDUSTRIES DEVELOPMENT BANK OF INDIA

OFFICE AT 1 & 2, DHANA LAXMI RESIDENCY, NEAR HOTEL TIP TOP PLAZA, LBS MARG, THANE(W), THANE, Maharashtra - 400602, INDIA

A74459272

3

10144451

30/07/2015 *

5,000,000.00

THANE BHARAT SAHAKARI BANK LIMITED

RIMZIM PREMISES, VISHNU NAGAR, NAUPADA, THANE (WEST), THANE, Maharashtra - 400601, INDIA

C62453824

4

10046445

22/11/2011 *

16,000,000.00

THANE BHARAT SAHAKARI BANK LIMITED

SHATATARAKA, BAJI PRABHU DESHPANDE MARG,, VISHNU 
NAGAR, NAUPADA, THANE (W), THANE, Maharashtra - 400602, INDIA

B65788473

 

* 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 records 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. 66.52

UK Pound

1

Rs. 100.44

Euro

1

Rs. 70.44

 

 

INFORMATION DETAILS

 

Information Gathered by :

DIP

 

 

Analysis Done by :

KIN

 

 

Report Prepared by :

JYO

 

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

6

PAID-UP CAPITAL

1~10

5

OPERATING SCALE

1~10

5

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

5

--PROFITABILITY

1~10

6

--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

NO

--OTHER ADVERSE INFORMATION

YES/NO

NO

MERIT POINTS

 

 

--SOLE DISTRIBUTORSHIP

YES/NO

NO

--EXPORT ACTIVITIES

YES/NO

YES

--AFFILIATION

YES/NO

YES

--LISTED

YES/NO

NO

--OTHER MERIT FACTORS

YES/NO

YES

DEFAULTER

 

 

--RBI

YES/NO

NO

--EPF

YES/NO

NO

TOTAL

 

46

 

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

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NB

                                       New Business

 

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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.