MIRA INFORM REPORT
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Report No. : |
357385 |
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Report Date : |
30.12.2015 |
IDENTIFICATION DETAILS
|
Name : |
RADIANT HITECH ENG. PRIVATE LIMITED |
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Registered
Office : |
5A, Fifth Floor, Neptune Tower, Productivity Road, Alkapuri, Vadodara - 390007, Gujarat |
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Tel. No.: |
91-265-6627879 |
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Country : |
India |
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Financials (as
on) : |
31.03.2015 |
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Date of
Incorporation : |
23.11.2006 |
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Com. Reg. No.: |
04-049444 |
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Capital
Investment / Paid-up Capital : |
Rs. 1.500 Million |
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CIN No.: [Company Identification
No.] |
U29199GJ2006PTC049444 |
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IEC No.: |
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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 : |
Private Limited Liability Company |
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Line of Business
: |
Subject is engaged in Business support service activities. (Registered Activity) |
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No. of Employees
: |
Information declined by management. |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (47) |
|
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 : |
Usually correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company incorporated in the year 2006 having
satisfactory track record. For the financial year ended 2015, the company has reported growth in
its total revenue profile by 3.56% which further led to rise in its net
profitability. The rating further takes into account of company’s decent financial
risk profile marked by its sufficient networth base, low debt and favourable
gap between trade payables to its receivables. Trade relations are reported as fair. Business is active. Payments are
reported to be usually correct. In view of aforesaid, the company can be considered for business
dealings at 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.
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
31-03-2015.
INFORMATION DENIED BY
|
Name : |
Ms. Helga |
|
Designation : |
Accountant |
|
Contact No.: |
91-265-2337879 |
|
Name : |
Mr. Ronak |
|
Designation : |
HR Department |
|
Contact No.: |
91-265-2337879 |
|
Date : |
28.12.2015 |
LOCATIONS
|
Registered Office : |
5A, Fifth Floor, Neptune Tower, Productivity Road,
Vadodara - 390007, Gujarat, India |
|
Tel. No.: |
91-265-6627879 |
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Fax No.: |
91-265-2337879 |
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E-Mail : |
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|
Website : |
DIRECTORS
AS ON 31.03.2015
|
Name : |
Mrs. Purvi Hardik Shah |
|
Designation : |
Director |
|
Address : |
12-Aankur Park, Opposite Elec. Substati, Baroda, Vadodara - 390023, Gujarat, India |
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Date of Birth/Age : |
22.03.1977 |
|
Date of Appointment : |
30.09.2014 |
|
DIN No.: |
02530653 |
|
Name : |
Mr. Hardik Narendra Shah |
|
Designation : |
Director |
|
Address : |
12-A, Ankur Park Society, Opposite Geb, Subhanpura, Vadodara - 390023, Gujarat, India |
|
Date of Birth/Age : |
13.06.1975 |
|
Date of Appointment : |
23.11.2006 |
|
DIN No.: |
00300706 |
|
Name : |
Mr. Utsav Vinodchandra Parikh |
|
Designation : |
Director |
|
Address : |
11, Kalpana Society, Race Course Circle, Vadodara - 390007, Gujarat, India |
|
Date of Birth/Age : |
01.07.1978 |
|
Date of Appointment : |
23.11.2006 |
|
DIN No.: |
00288351 |
|
Name : |
Mrs. Rita Narendra Shah |
|
Designation : |
Director |
|
Address : |
Paritosh, 12-A, Ankur Park, Subhanpura, Vadodara - 390023, Gujarat, India |
|
Date of Birth/Age : |
21.09.1946 |
|
Date of Appointment : |
30.09.2008 |
|
DIN No.: |
01458624 |
KEY EXECUTIVES
|
Name : |
Ms. Helga |
|
Designation : |
Accountant |
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|
|
|
Name : |
Mr. Ronak |
|
Designation : |
HR Department |
MAJOR SHAREHOLDERS
AS ON 31.03.2015
|
Names of Shareholders |
|
No. of Shares |
|
Mr. Hardik Narendra Shah |
|
45000 |
|
Mr. Utsav Vinodchandra Parikh |
|
37500 |
|
Mr. Narendra Shah |
|
27000 |
|
Mr. Ashish Shah |
|
13500 |
|
Mrs. Purvi Shah |
|
26750 |
|
Mrs. Rita Shah |
|
250 |
|
Total |
|
150000 |
Equity Share Break up (Percentage of Total Equity)
AS ON 31.03.2015
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business
: |
Subject is engaged in Business support service activities. (Registered
Activity) |
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Products : |
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Brand Names : |
Not Divulged |
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Agencies Held : |
Not Divulged |
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Exports : |
Not Available |
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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 management. |
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Bankers : |
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Facilities : |
NOTE: SHORT TERM
BORROWING: Nature of
Security: Cash credit from banks is secured by pari passu first charge on the movable
and immovable fixed assets and current asset of the company. Further,
Term of payment: Payable on demand |
|
Auditors : |
|
|
Name : |
S. M. Kabra and Company Chartered Accountants |
|
Address : |
GF-4, 'Tanishq' Complex, Opposite SBI Urmi Branch, Productivity Road,
Vadodara – 390020, Gujarat, India |
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Tel. No.: |
91-265-2321333 |
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E-Mail : |
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PAN No. of
Auditors Firm: |
AEUPK1764B |
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Memberships : |
Not Divulged |
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Collaborators : |
Not Divulged |
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Entities controlled by directors or their relatives : |
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CAPITAL STRUCTURE
AS ON 30.09.2015
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
250,000 |
Equity Shares |
Rs.10/- each |
Rs. 2.500 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
150,000 |
Equity Shares |
Rs.10/- each |
Rs. 1.500 Million |
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|
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|
FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
1.500 |
1.500 |
1.500 |
|
(b) Reserves & Surplus |
119.216 |
70.161 |
50.528 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
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|
|
|
|
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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) |
120.716 |
71.661 |
52.028 |
|
|
|
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(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
39.471 |
77.650 |
72.846 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
1.527 |
0.000 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
16.334 |
23.209 |
13.540 |
|
Total Non-current
Liabilities (3) |
55.805 |
102.386 |
86.386 |
|
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(4)
Current Liabilities |
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|
|
|
(a) Short
term borrowings |
14.363 |
28.767 |
20.487 |
|
(b) Trade
payables |
37.376 |
17.820 |
8.478 |
|
(c) Other
current liabilities |
20.406 |
5.214 |
1.411 |
|
(d) Short-term
provisions |
14.515 |
8.583 |
5.501 |
|
Total Current
Liabilities (4) |
86.660 |
60.384 |
35.877 |
|
|
|
|
|
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TOTAL |
263.181 |
234.431 |
174.291 |
|
|
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II.
ASSETS |
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|
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|
(1)
Non-current assets |
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|
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(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
103.973 |
68.459 |
65.871 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(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 |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
(7.516) |
0.169 |
0.000 |
|
(d) Long-term Loan and Advances |
39.561 |
37.156 |
20.638 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
136.018 |
105.784 |
86.509 |
|
|
|
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(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
61.805 |
16.800 |
8.546 |
|
(c) Trade
receivables |
40.940 |
82.153 |
65.371 |
|
(d) Cash
and cash equivalents |
7.718 |
24.283 |
9.818 |
|
(e)
Short-term loans and advances |
16.700 |
5.411 |
4.047 |
|
(f) Other
current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
127.163 |
128.647 |
87.782 |
|
|
|
|
|
|
TOTAL |
263.181 |
234.431 |
174.291 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
|
SALES |
|
|
|
|
|
Income |
389.848 |
377.323 |
|
|
|
Other Income |
2.130 |
1.150 |
|
|
|
TOTAL SALES |
391.978 |
378.473 |
280.448 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
43.482 |
13.772 |
|
|
|
Purchases of
Stock-in-Trade |
(45.005) |
(8.254) |
|
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
230.198 |
267.314 |
|
|
|
Employees benefits
expense |
68.133 |
45.088 |
|
|
|
Other expenses |
25.819 |
11.710 |
|
|
|
TOTAL EXPENSES |
322.627 |
329.630 |
246.154 |
|
|
|
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|
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|
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION |
69.351 |
48.843 |
34.294 |
|
|
|
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|
|
|
|
Less |
FINANCIAL EXPENSES |
7.398 |
8.177 |
7.488 |
|
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|
PROFIT / (LOSS) BEFORE TAX,
DEPRECIATION AND AMORTISATION |
61.953 |
40.666 |
26.806 |
|
|
|
|
|
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|
Less |
DEPRECIATION/
AMORTISATION |
7.595 |
11.587 |
6.376 |
|
|
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|
|
PROFIT/ (LOSS) BEFORE TAX |
54.358 |
29.079 |
20.430 |
|
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Less |
TAX |
17.824 |
9.446 |
6.640 |
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|
PROFIT/ (LOSS) AFTER TAX
|
36.534 |
19.633 |
13.790 |
|
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EARNINGS IN FOREIGN
CURRENCY |
|||
|
|
Labour Income - Manpower |
0.000 |
0.530 |
NA |
|
|
TOTAL EARNINGS |
0.000 |
0.530 |
NA |
|
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|
IMPORTS |
|
|
|
|
|
Capital Goods |
16.534 |
0.000 |
NA |
|
|
TOTAL IMPORTS |
16.534 |
0.000 |
NA |
|
|
|
|
|
|
|
|
EARNINGS / (LOSS) PER
SHARE (RS.) |
243.56 |
130.89 |
91.933 |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
Current Maturities of Finance Lease Obligation |
0.341 |
0.305 |
NA |
|
Cash generated from operations |
NA |
NA |
NA |
|
Cash generated from (Used) operations |
NA |
NA |
NA |
|
Cash generated from Operating Activities |
NA |
NA |
NA |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
Net Profit Margin (PAT / Sales) |
(%) |
9.37 |
5.20 |
4.92 |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
17.79 |
12.94 |
12.23 |
|
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|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
20.08 |
12.41 |
11.72 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.45 |
0.41 |
0.39 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.45 |
1.49 |
1.79 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.47 |
2.13 |
2.45 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2013 |
31.03.2014 |
31.03.2015 |
|
|
Rs.
In Million |
Rs.
In Million |
Rs.
In Million |
|
Share Capital |
1.500 |
1.500 |
1.500 |
|
Reserves & Surplus |
50.528 |
70.161 |
119.216 |
|
Share Application money pending
allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
52.028 |
71.661 |
120.716 |
|
|
|
|
|
|
long-term borrowings |
72.846 |
77.650 |
39.471 |
|
Short term borrowings |
20.487 |
28.767 |
14.363 |
|
Total
borrowings |
93.333 |
106.417 |
53.834 |
|
Debt/Equity
ratio |
1.794 |
1.485 |
0.446 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2013 |
31.03.2014 |
31.03.2015 |
|
|
Rs.
In Million |
Rs.
In Million |
Rs.
In Million |
|
Sales |
280.448 |
378.473 |
391.978 |
|
|
|
34.953 |
3.568 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2013 |
31.03.2014 |
31.03.2015 |
|
|
Rs.
In Million |
Rs.
In Million |
Rs.
In Million |
|
Sales
|
280.448 |
378.473 |
391.978 |
|
Profit |
13.790 |
19.633 |
36.534 |
|
|
4.92% |
5.19% |
9.32% |
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 |
--- |
|
33 |
Market information |
--- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
Note:
Registered office of the company is shifted from 4th Floor, Neptune Tower, R.C. Dutt Road, Alkapuri, Baroda - 390007, Gujarat, India to present address w.e.f. 01.12.2009.
UNSECURED LOAN
|
PARTICULARS |
31.03.2015 (Rs.
in Million) |
31.03.2014 (Rs.
in Million) |
|
LONG-TERM
BORROWINGS |
|
|
|
Loan from directors and relatives |
39.224 |
36.323 |
|
Total |
39.224 |
36.323 |
CONTINGENT
LIABILITIES:
(Rs. in million)
|
PARTICULARS |
31.03.2015 |
31.03.2014 |
|
Outstanding bank guarantees |
38.055 |
42.046 |
|
Income tax Income tax of Rs. 2.290 Million in respect Assessment year 2010-11. In respect of which the company has gone on Tribunal based on judicial pronouncements and the advice received from the company’s consultants, the management is confident that their appeals are likely to be upheld by the appellate authorize. However, company has deposited Rs. 2.290 Million (100% of the total liability) before filing the refund order for A. Y, 2009-10. Rs. 0.549 Million and A. Y. 2013-14 Rs. 0.541 Million. |
2.291 |
2.291 |
|
Total |
40.346 |
44.337 |
INDEX OF CHARGES:
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
10255848 |
31/03/2015
* |
100,000,000.00 |
HDFC
BANK LIMITED |
HDFC
BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL WEST, MUMBAI - 400013,
MAHARASHTRA, INDIA |
C49982689 |
FIXED ASSETS
- Computer
- Furniture’s and Fixtures
- Mobile Instrument
- Machinery
- Office Equipment
- Vehicles
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. 66.37 |
|
|
1 |
Rs. 98.91 |
|
Euro |
1 |
Rs. 72.84 |
INFORMATION DETAILS
|
Information
Gathered by : |
KMN |
|
|
|
|
Analysis Done by
: |
HNA |
|
|
|
|
Report Prepared
by : |
SYL |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILITY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--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 |
|
47 |
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.