MIRA INFORM REPORT

 

 

Report No. :

354458

Report Date :

15.12.2015

 

IDENTIFICATION DETAILS

 

Name :

MILLENIUM STEEL INDIA PRIVATE LIMITED

 

 

Registered Office :

Old No. 36, New No. 98, 3 Rd Floor, Halls Road, Kilpauk, Chennai – 60010, Tamilnadu

Tel. No.:

91-44-26454518/23

 

 

Country :

India

 

 

Financials (as on) :

31.03.2015

 

 

Date of Incorporation :

09.02.2005

 

 

Com. Reg. No.:

18-055327

 

 

Capital Investment / Paid-up Capital :

Rs.9.033 Million

 

 

CIN No.:

[Company Identification No.]

U51420TN2005PTC055327

 

 

IEC No.:

0410017531

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

Not Available

 

 

PAN No.:

[Permanent Account No.]

AAECM1973H

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Trader of Steel, Carbon Steel, Tool, Alloy Steel and Importer of Coal [Confirmed by management]

 

 

No. of Employees :

25 (Approximately)

 

 

RATING & COMMENTS

 

MIRA’s Rating :

B (28)

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Status :

Moderate

 

 

Payment Behaviour :

Slow but correct

 

 

Litigation :

Clear

 

 

Comments :

Subject is an established company incorporated in the year 2005 having a   moderate track record.

As per Registrar of Companies the date of balance sheet (i.e, financial filed) is shown as 31-03-15 but the documents related to the financial for the year 2015 are not available from any sources.

As per available financial of 2014, profit margin of the company seems to be low. Borrowings recorded by the company has increased.

The rating is further constrained by unfavorable gap between trade payables and trade receivables.

The rating also takes into consideration prevailing slowdown in steel industry.

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

The company can be considered for business dealings with some caution

 

NOTES :

Any query related to this report can be made on e-mail : infodept@mirainform.com while quoting report number, name and date.

 

 

ECGC Country Risk Classification List – March 31, 2015

 

Country Name

Previous Rating

(31.12.2014)

Current Rating

(31.03.2015)

India

A1

A1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

EXTERNAL AGENCY RATING

 

Rating Agency Name

CRISIL

Rating

Long -Term Rating = B

Rating Explanation

High risk of default

Date

15, May, 2015

 

Rating Agency Name

CRISIL

Rating

Short - Term Rating = A4

Rating Explanation

Minimal degree of safety and very high credit risk.

Date

15, May, 2015

 

 

RBI DEFAULTERS’ LIST STATUS

 

Subject’s name is not enlisted as a defaulter in the publicly available RBI Defaulters’ list.

 

 

EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS

 

Subject’s name is not enlisted as a defaulter in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of 31-03-2015.

 

 

INFORMATION PARTED BY

 

Name :

Mr. Narendra

Designation :

Finance Head

Contact No.:

91-44-26454518

Date :

14.12.2015

 

 

LOCATIONS

 

Registered Office :

Old No. 36, New No. 98, 3 Rd Floor, Halls Road, Kilpauk, Chennai – 60010, Tamilnadu, India

Tel. No.:

91-44-26454518/23

Fax No.:

91-44-26474132

E-Mail :

milleniumsteels@gmail.com

 

 

Warehouse :

Located At:

 

  • Chennai

 

 

DIRECTORS

 

AS ON 31.03.2015

 

Name :

Mr. Hariprasad Reddy Duvvuru

Designation :

Managing Director

Address :

72,New Avadi Road,Kurunchi Apartments,, 3rd Floor,Kilpauk, Chennai - 600010, Tamil Nadu, India

Date of Birth/Age :

02.06.1966

Date of Appointment :

01.10.2014

DIN No.:

00851833

PAN No.:

ABDPH0481Q

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

U51420TN2001PLC046891

STEEL EXCHANGE CHENNAI LIMITED

Director

30/03/2001

30/03/2001

-

Active

NO

2

U51420TN2005PTC055327

MILLENIUM STEEL INDIA PRIVATE LIMITED

Managing director

01/10/2014

09/02/2005

-

Active

NO

3

U27106TN2007PTC062430

CHENNAI STEELS PRIVATE LIMITED

Managing director

01/10/2014

20/02/2007

-

Active

NO

4

U27104TN1995PLC032226

SIGNET STEELS LIMITED

Additional director

14/06/2010

14/06/2010

-

Active

NO

5

U72900DL2009PTC188599

MOBIFUSION TECHNOLOGIES PRIVATE LIMITED

Additional director

22/03/2011

22/03/2011

-

Active

NO

6

U23209AP1992PLC013774

MAHESWARI BROTHERS COAL LIMITED

Director

27/02/2012

27/02/2012

-

Active

NO

7

U67190TG2013PTC085247

ANANDJEEVAN FIN CONSULTANTS PRIVATE LIMITED

Director

07/01/2013

07/01/2013

-

Active

NO

8

AAE-7181

ANU AND ANUSH COAL LLP

Designated Partner

08/09/2015

08/09/2015

-

Active

NO

 

 

Name :

Mr. Hemanth Kumar Reddy Duvvuru

Designation :

Director

Address :

16-4-718, Pinakini Avenue, Haranatha Puram, Nellore - 524003, Andhra Pradesh, India

Date of Birth/Age :

31.01.1962

Date of Appointment :

09.02.2005

DIN No.:

01807910

PAN No.:

AIBPD3054E

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

U51420TN2005PTC055327

MILLENIUM STEEL INDIA PRIVATE LIMITED

Director

09/02/2005

09/02/2005

-

Active

NO

2

U27109AP2005PTC045847

TMT STEELS PRIVATE LIMITED

Director

08/04/2005

08/04/2005

04/12/2013

Active

NO

 

 

Name :

Mrs. Jyothi Duvvuru

Designation :

Director

Address :

No, 72-5, Kurunchi Apartments, New Avadi Road, Kilpaul, Chennai - 600010, Tamil Nadu, India

Date of Birth/Age :

01.07.1970

Date of Appointment :

01.10.2014

DIN No.:

02445338

PAN No.:

AGPPD4807K

 

 

KEY EXECUTIVES

 

Name :

Mr. Narendra

Designation :

Finance Head

 

 

Name :

M. Damodaran and Associates

Designation :

Practicing Company Secretaries.

Address :

New No.6, Old No. 12, Appavoo Gramani 1st Street, Mandaveli, (Opposite to church Nearby BSNL office) Chennai – 600028, Tamilnadu, India

Tel No.:

91-44-43601111

Email :

secretarieal@mdassociates.co.in

Accounts@mdassociates.co.in

 

 

MAJOR SHAREHOLDERS

 

AS ON 31.03.2015

 

Names of Shareholders

No. of Shares

%age holding

Hariprasad Reddy Duvvuru

550431

51.44

Jyothi Duvvuru

112000

10.47

Hemanth Kumar Reddy Duvvuru

4000

0.37

Nishal Vishnu D S

256900

24.01

K. Suresh Kumar Reddy

16666

1.56

T. Sai Mohan Reddy

120000

11.21

Dwarampudi Swapna

10000

0.93

Total

1069997

100.00

 

 

 

Equity Share Break up (Percentage of Total Equity)

 

AS ON 30.09.2014

 

Category

Percentage

Bodies corporate

52.65

Other

47.35

Total

100.00

 

 

BUSINESS DETAILS

 

Line of Business :

Trader of Steel, Carbon Steel, Tool, Alloy Steel and Importer of Coal [Confirmed by management]

 

 

Products :

Item Code No.

Product Description

73069090

Trading in steel

 

 

Brand Names :

Not Available

 

 

Agencies Held :

Not Available

 

 

Exports :

Not Divulged

 

 

Imports :

 

Products :

Coal

Countries :

Indonesia

 

 

Terms :

 

Selling :

Advance Payment, L\C and Credit [30,60 Days]

 

 

Purchasing :

Advance Payment, L\C and Credit [30,60 Days]

 

PRODUCTION STATUS: NOT AVAILABLE

 

 

GENERAL INFORMATION

 

Suppliers :

Reference :

Smart Infratech Private Limited

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Maximum Limit Dealt :

Not Divulged

Experience :

Not Divulged

Remark:

Not Divulged

 

 

Customers :

Wholesalers and Retailers

 

Reference :

Nava Bharat Dharmavaram Power, Hyderabad, Telangana, India

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 :

25 (Approximately)

 

 

Bankers :
  • The Karur Vysya Bank Limited, Central Loan Processing Cell, South Wing, 1st Floor, No.37 Whites Road, Chennai - 600014, Tamilnadu, India

 

  • UTI Bank Limited, J14; Iii Avenue, Anna Nagar, Chennai - 600102, Tamilnadu, India

 

Banker Name

Axis Bank Limited

Branch Address

Anna Nagar (East), Chennai – 600102, Tamilnadu, India

Person Name (With Designation)

Not Divulged

Contact Number

Not Divulged

Name of Account Holder

Not Divulged

Account Number

Not Divulged

Account Since (Date/Year of Account Opening)

Not Divulged

Average Balance Maintained (If Possible)

Not Divulged

Credit Facilities Enjoyed (If any)

Not Divulged

Account Operation

Not Divulged

Remarks (If any)

Not Divulged

 

 

Facilities :

(Rs. In Million)

 

SECURED LOAN

As on

31.03.2014

As on

31.03.2013

LONG TERM BORROWING

 

 

Loans taken for fixed assets

0.326

1.101

 

 

 

SHORT TERM BORROWING

 

 

Working capital loans from banks

41.715

45.426

Other loans and advances

70.000

0.000

Total

112.041

45.527

 

Auditors :

 

Name :

V.S.Reddy SP and Associates

Chartered Accountants

Address :

S-19 Tnhb, Complex Luz Church Road, Mylapore Chennai – 600004, Tamilnadu India

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

AABCE3901C

 

 

 

Memberships :

Not Available

 

 

Collaborators :

Not Available

 

 

Enterprises which are

Owned, or have significant

Influence of or are partners

With key management

Personnel and their relatives:
  • Chennai Steels Private Limited, India [U27106TN2007PTC062430]
  • Steel Exchange Chennai Limited, India [U51420TN2001PLC046891]

 

 

 

CAPITAL STRUCTURE

 

AS ON 30.09.2014

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

1000000

Equity Shares

Rs.10/- each

Rs.10.000 Million

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

903331

Equity Shares

Rs.10/- each

Rs.9.033 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

9.033

6.833

6.833

(b) Reserves & Surplus

26.266

17.423

15.296

(c) Money received against share warrants

0.000

0.000

0.000

 

 

 

 

(2) Share Application money pending allotment

0.000

1.100

0.300

Total Shareholders’ Funds (1) + (2)

35.299

25.356

22.429

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

36.046

1.101

0.000

(b) Deferred tax liabilities (Net)

0.333

0.298

0.254

(c) Other long term liabilities

76.061

33.777

11.021

(d) long-term provisions

0.000

0.000

0.000

Total Non-current Liabilities (3)

112.440

35.176

11.275

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

111.715

45.426

14.423

(b) Trade payables

817.266

142.526

396.702

(c) Other current liabilities

10.123

13.425

50.687

(d) Short-term provisions

2.772

4.766

10.021

Total Current Liabilities (4)

941.876

206.143

471.833

 

 

 

 

TOTAL

1089.615

266.675

505.537

 

 

 

 

II.          ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

4.294

4.178

1.965

(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

2.763

2.763

0.300

(e) Other Non-current assets

0.000

0.000

0.000

Total Non-Current Assets

7.057

6.941

2.265

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

359.223

4.147

20.769

(c) Trade receivables

555.768

75.770

461.246

(d) Cash and cash equivalents

4.329

21.933

7.098

(e) Short-term loans and advances

163.238

157.884

14.159

(f) Other current assets

0.000

0.000

0.000

Total Current Assets

1082.558

259.734

503.272

 

 

 

 

TOTAL

1089.615

266.675

505.537

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

31.03.2014

31.03.2013

31.03.2012

 

 

 

 

 

 

GROSS TOTAL

1716.897

1056.432

847.303

 

 

 

 

 

Less

GROSS EXPENSES

1710.451

1053.313

845.281

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE TAX

6.446

3.119

2.022

 

 

 

 

 

Less

TAX

2.003

0.990

0.435

 

 

 

 

 

 

PROFIT/ (LOSS)  AFTER TAX 

4.443

2.129

1.587

 

 

 

 

 

 

Earnings / (Loss) Per Share (Rs.)

4.92 

NA 

NA 

 

 

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

(98.895)

(6.916)

(14.512)

 

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2014

31.03.2013

31.03.2012

Net Profit Margin

(PAT / Gross Income)

(%)

0.26

0.20

0.19

 

 

 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)

0.59

1.17

0.40

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

0.18

0.12

0.09

 

 

 

 

 

Debt Equity Ratio

(Total Debt /Networth)

 

4.19

1.83

0.64

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

1.15

1.26

1.07

 

 

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

6.833

6.833

9.033

Reserves & Surplus

15.296

17.423

26.266

Share Application money pending allotment

0.300

1.100

0.000

Net worth

22.429

25.356

35.299

 

 

 

 

Long-term borrowings

0.000

1.101

36.046

Short term borrowings

14.423

45.426

111.715

Total borrowings

14.423

46.527

147.761

Debt/Equity ratio

0.643

1.835

4.186

 

 

YEAR-ON-YEAR GROWTH

 

Year on Year Growth

31.03.2012

31.03.2013

31.03.2014

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Gross Income

847.303

1056.432

1716.897

 

 

24.682

62.518

 

 

 

NET PROFIT MARGIN

 

Net Profit Margin

31.03.2012

31.03.2013

31.03.2014

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Gross Income

847.303

1056.432

1716.897

Profit

1.587

2.129

4.443

 

0.19%

0.20%

0.26%

 

 

 

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

Yes

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 No.88, Gajapathy Streetshenoy Nagar Chennai - 600030, Tamilnadu, India to the present address w.e.f. 25.07.2011

 

 

UNSECURED LOAN

 

(Rs. In Million)

Particulars

As on

31.03.2014

As on

31.03.2013

LONG TERM BORROWING

 

 

Other loans and advances

35.720

0.000

Total

35.720

0.000

 

 

INDEX OF CHARGES

 

S.NO.

CHARGE ID

DATE OF CHARGE CREATION/MODIFICATION

CHARGE AMOUNT SECURED

CHARGE HOLDER

ADDRESS

SERVICE REQUEST NUMBER (SRN)

1

10300363

30/06/2015 *

372,500,000.00

THE KARUR VYSYA BANK LIMITED

ANNA NAGAR BRANCH, AC-6, 2ND AVENUE,LKS PLAZA, ANNA NAGAR, CHENNAI- 600040, TAMILNADU, INDIA

C59142604

 

* Date of charge modification

 

FIXED ASSETS

 

Tangible assets

 

 

 

CMT REPORT (Corruption, Money Laundering & Terrorism]

 

The Public Notice information has been collected from various sources including but not limited to: The Courts, India Prisons Service, Interpol, etc.

 

1]         INFORMATION ON DESIGNATED PARTY

No exist designating subject or any of its beneficial owners, controlling shareholders or senior officers as terrorist or terrorist organization or whom notice had been received that all financial transactions involving their assets have been blocked or convicted, found guilty or against whom a judgement or order had been entered in a proceedings for violating money-laundering, anti-corruption or bribery or international economic or anti-terrorism sanction laws or whose assets were seized, blocked, frozen or ordered forfeited for violation of money laundering or international anti-terrorism laws.

 

2]         Court Declaration :

No exist to suggest that subject is or was the subject of any formal or informal allegations, prosecutions or other official proceeding for making any prohibited payments or other improper payments to government officials for engaging in prohibited transactions or with designated parties.

 

3]         Asset Declaration :

No records exist to suggest that the property or assets of the subject are derived from criminal conduct or a prohibited transaction.

 

4]         Record on Financial Crime :

            Charges or conviction registered against subject:                                                           None

 

5]         Records on Violation of Anti-Corruption Laws :

            Charges or investigation registered against subject:                                                        None

 

6]         Records on Int’l Anti-Money Laundering Laws/Standards :

            Charges or investigation registered against subject:                                                        None

 

7]         Criminal Records

No available information exist that suggest that subject or any of its principals have been formally charged or convicted by a competent governmental authority for any financial crime or under any formal investigation by a competent government authority for any violation of anti-corruption laws or international anti-money laundering laws or standard.

 

8]         Affiliation with Government :

No record exists to suggest that any director or indirect owners, controlling shareholders, director, officer or employee of the company is a government official or a family member or close business associate of a Government official.

 

9]         Compensation Package :

Our market survey revealed that the amount of compensation sought by the subject is fair and reasonable and comparable to compensation paid to others for similar services.

 

10]        Press Report :

            No press reports / filings exists on the subject.

 

CORPORATE GOVERNANCE

 

MIRA INFORM as part of its Due Diligence do provide comments on Corporate Governance to identify management and governance. These factors often have been predictive and in some cases have created vulnerabilities to credit deterioration.

 

Our Governance Assessment focuses principally on the interactions between a company’s management, its Board of Directors, Shareholders and other financial stakeholders.

 

 

CONTRAVENTION

 

Subject is not known to have contravened any existing local laws, regulations or policies that prohibit, restrict or otherwise affect the terms and conditions that could be included in the agreement with the subject.

 

 

FOREIGN EXCHANGE RATES

 

Currency

 
Unit

Indian Rupees

US Dollar

1

Rs.66.99

UK Pound

1

Rs.101.78

Euro

1

Rs.73.47

 

 

INFORMATION DETAILS

 

Information Gathered by :

SUP

 

 

Analysis Done by :

DIV

 

 

Report Prepared by :

GEET

 

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

3

PAID-UP CAPITAL

1~10

3

OPERATING SCALE

1~10

3

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

3

--PROFITABILITY

1~10

3

--LIQUIDITY

1~10

3

--LEVERAGE

1~10

3

--RESERVES

1~10

4

--CREDIT LINES

1~10

3

--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

 

28

 

This score serves as a reference to assess SC’s credit risk and to set the amount of credit to be extended. It is calculated from a composite of weighted scores obtained from each of the major sections of this report. The assessed factors and their relative weights (as indicated through %) are as follows:

 

Financial condition (40%)            Ownership background (20%)                  Payment record (10%)

Credit history (10%)                   Market trend (10%)                                Operational size (10%)

 

 

RATING EXPLANATIONS

 

RATING

STATUS

 

 

PROPOSED CREDIT LINE

>86

Aaa

Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums

 

Unlimited

71-85

Aa

Possesses adequate working capital. No caution needed for credit transaction. It has above average (strong) capability for payment of interest and principal sums

 

Large

56-70

A

Financial & operational base are regarded healthy. General unfavourable factors will not cause fatal effect. Satisfactory capability for payment of interest and principal sums

 

Fairly Large

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

 

Satisfactory

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

 

Small

11-25

Ca

Adverse factors are apparent. Repayment of interest and principal sums in default or expected to be in default upon maturity

 

Limited with full security

<10

C

Absolute credit risk exists. Caution needed to be exercised

 

 

Credit not recommended

--

NB

                                       New Business

 

--

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.