MIRA
INFORM REPORT
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Report No. : |
302221 |
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Report Date : |
09.02.2015 |
IDENTIFICATION DETAILS
|
Name : |
ROSMERTA AUTOTECH PRIVATE LIMITED (w.e.f.18.02.2011) |
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Formerly Known
As : |
MULTISPEED GEARS PRIVATE LIMITED |
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Registered
Office : |
Khasra No. 19/28, Kapashera, |
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Country : |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
14.05.1987 |
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Com. Reg. No.: |
55-027962 |
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Capital
Investment / Paid-up Capital : |
Rs.12.000 Millions |
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CIN No.: [Company Identification
No.] |
U74899DL1987PTC027962 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
DELM14621F |
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PAN No.: [Permanent Account No.] |
AADCM3554B |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturing and Supply of Automotive
Devices, Equipments and Providing Allied Services. |
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No. of Employees
: |
250 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (44) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 800000 |
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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 having a satisfactory track. Trade relations are fair. Business is active. Payment terms are
reported to be usually correct. 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.
ECGC Country Risk Classification List – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
|
Very High |
C1 |
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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
31-03-2014.
INFORMATION PARTED BY
|
Name : |
Mr. S K Jaiswal |
|
Designation : |
Senior Manager in Accounts Finance |
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Contact No.: |
91-124-4990800 |
|
Date : |
17.01.2015 |
LOCATIONS
|
Registered Office : |
Khasra No. 19/28, Kapashera, New Delhi – 110037, India |
|
Tel. No.: |
Not Available |
|
Mobile No.: |
91-9218671893 (Mr. Arun Sharma) 91-9311346279 (Mr. Mukesh Bidani) |
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Fax No.: |
Not Available |
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E-Mail : |
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Website : |
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Location : |
Owned |
|
|
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Factory: |
Plot No. 5, 1st Floor, Khasra No. 171, Sector 5,
Parwanoo-173220, Himachal Pradesh, India |
|
Tel No.: |
91-1792-645242/ 645232 |
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|
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Corporate Office 1 : |
153, III Floor, Leela Building, Okhla Industrial Estate, Phase III, New Delhi-110020, India |
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Tel. No.: |
91-11-41000055 |
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Fax No.: |
91-11-40516033 |
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Corporate Office 2 : |
137, Udyog Vihar, Phase 1, Near Shankar Chowk, Gurgaon – 122001,
Haryana, India |
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Tel No.: |
91-124-4990800 |
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Fax No.: |
91-124-4990899 |
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Corporate Office 3 : |
G-37, Jangpura Extension, New Delhi – 110014, India |
DIRECTORS
As on 29.09.2014
|
Name : |
Mr. Pankaj Madan |
|
Designation : |
Director |
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Address : |
C-322, New Panchwati, Ghaziabad – 201001, Uttar Pradesh, India |
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Date of Birth/Age : |
06.08.1971 |
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Date of Appointment : |
18.08.2008 |
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DIN No.: |
02614589 |
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|
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|
Name : |
Mr. Sandeep Malik |
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Designation : |
Director |
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Address : |
70-B Single Storey, Ramesh Nagar, New Delhi – 110015, India |
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Date of Birth/Age : |
15.12.1971 |
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Date of Appointment : |
30.06.2009 |
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DIN No.: |
02698183 |
KEY EXECUTIVES
|
Name : |
Mr. S K Jaiswal |
|
Designation : |
Senior Manager in Accounts Finance |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 29.09.2014
|
Names of Shareholder |
No. of Shares |
%age
holding |
|
Rosmerta Technologies Limited, India |
1199900 |
99.99 |
|
Pankaj Madan |
100 |
0.01 |
|
Total |
1200000 |
100.00 |
Equity Share Break up (Percentage of Total Equity)
As on 29.09.2014
|
Category |
Percentage |
|
Bodies corporate |
99.99 |
|
Directors or relatives of Directors |
0.01 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing and Supply of Automotive
Devices, Equipments and Providing Allied Services. |
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|
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|
Products : |
· Speed Governor (Fuel Based) · Speed Governor (Cable / Actuator Type) · GPS Based Variable Speed Governor (VSG) (Patent Pending) · Variable Speed Governor With Tracker (VSG + VTS) · Vehicle Tracking System (VTS) |
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Brand Names : |
Not Divulged |
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Agencies Held : |
Not Divulged |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
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Selling : |
Cash and Credit |
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Purchasing : |
Cash and Credit |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
End Users
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No. of Employees : |
250 (Approximately) |
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Bankers : |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Agarwal Vishwanath and Associates Chartered Accountants |
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Address : |
208, Chiranjiv Tower, 2nd Floor, New Delhi – 110019, India |
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Mobile No.: |
91-8588872028/9831213279 |
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Email : |
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PAN N Income-tax PAN of auditor or auditor's firm : |
AAHFA4348L |
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Memberships : |
-- |
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Collaborators : |
-- |
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Holding and up-stream Holding Companies : |
·
Rosmerta Technologies Limited, India CIN No.:U72200DL2006PLC257032 KKH Technologies Private Limited |
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Entities over
which company or key management personnel or their relatives, exercise
significant influence : |
· Rosmerta Engineering Private Limited · Agomoni Tradecomm Private Limited · Albireo Telematics Private Limited · Rosmerta HSRP Ventures Private Limited · Rosmerta Holdings Private Limited |
CAPITAL STRUCTURE
As on 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
6000000 |
Equity Shares |
Rs.10/- each |
Rs.60.000 Millions |
|
|
|
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1200000 |
Equity Shares |
Rs.10/- each |
Rs.12.000 Millions
|
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FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES
OF FUNDS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
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(a) Share Capital |
12.000 |
12.000 |
12.000 |
|
(b) Reserves & Surplus |
280.779 |
262.468 |
233.356 |
|
(c) Money received against
share warrants |
0.000 |
0.000 |
0.000 |
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|
|
|
|
(2) Share Application money pending
allotment |
0.000 |
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
292.779 |
274.468 |
245.356 |
|
|
|
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(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.258 |
0.278 |
0.537 |
|
(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 |
2.816 |
2.380 |
2.544 |
|
Total
Non-current Liabilities (3) |
3.074 |
2.658 |
3.081 |
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|
|
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(4) Current Liabilities |
|
|
|
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(a) Short term borrowings |
54.687 |
31.506 |
53.149 |
|
(b) Trade payables |
3.697 |
13.002 |
7.714 |
|
(c) Other current liabilities |
37.543 |
11.040 |
6.017 |
|
(d) Short-term provisions |
43.770 |
16.396 |
20.015 |
|
Total
Current Liabilities (4) |
139.697 |
71.944 |
86.895 |
|
|
|
|
|
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TOTAL |
435.550 |
349.070 |
335.332 |
|
|
|
|
|
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II.
ASSETS |
|
|
|
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(1) Non-current assets |
|
|
|
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(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
8.365 |
10.600 |
3.451 |
|
(ii) Intangible Assets |
17.248 |
19.560 |
7.250 |
|
(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 |
0.023 |
0.023 |
0.020 |
|
(c) Deferred tax assets (net) |
0.399 |
0.716 |
1.066 |
|
(d) Long-term Loan and Advances |
27.673 |
18.032 |
17.897 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
53.708 |
48.931 |
29.684 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
18.536 |
8.694 |
24.245 |
|
(c) Trade receivables |
25.566 |
30.845 |
30.473 |
|
(d) Cash and cash equivalents |
5.761 |
9.460 |
31.325 |
|
(e) Short-term loans and
advances |
331.979 |
251.140 |
219.604 |
|
(f) Other current assets |
0.000 |
0.000 |
0.001 |
|
Total
Current Assets |
381.842 |
300.139 |
305.648 |
|
|
|
|
|
|
TOTAL |
435.550 |
349.070 |
335.332 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Income |
241.827 |
292.953 |
|
|
|
Other Income |
0.094 |
1.500 |
|
|
|
TOTAL
(A) |
241.921 |
294.453 |
343.729 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
77.120 |
124.660 |
|
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
-3.244 |
2.744 |
238.478 |
|
|
Employees benefits expense |
46.522 |
41.469 |
|
|
|
Other expenses |
87.443 |
79.857 |
|
|
|
TOTAL
(B) |
207.841 |
248.730 |
238.478 (Including
financial expenses) |
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (C) |
34.080 |
45.723 |
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
0.042 |
0.096 |
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
34.038 |
45.628 |
105.251 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION (F) |
7.224 |
5.796 |
4.197 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F) (G) |
26.814 |
39.832 |
101.054 |
|
|
|
|
|
|
|
Less |
TAX
(I) |
8.505 |
10.720 |
24.114 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-I)
(J) |
18.309 |
29.112 |
76.940 |
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
169.012 |
139.900 |
62.960 |
|
|
|
|
|
|
|
|
Balance
Carried to the B/S |
187.321 |
169.012 |
139.900 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
7.842 |
10.498 |
1.716 |
|
|
TOTAL
IMPORTS |
7.842 |
10.498 |
1.716 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
15.26 |
24.26 |
64.12 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
|
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|
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Operating Profit Margin (PBIDT/Sales) |
(%) |
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Return on Total Assets (PBT/Total Assets} |
(%) |
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|
Return on Investment (ROI) (PBT/Networth) |
|
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|
Debt Equity Ratio (Total Debt /Networth) |
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|
|
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
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|
|
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Share Capital |
12.000 |
12.000 |
12.000 |
|
Reserves & Surplus |
233.356 |
262.468 |
280.779 |
|
Net
worth |
245.356 |
274.468 |
292.779 |
|
|
|
|
|
|
long-term borrowings |
0.537 |
0.278 |
0.258 |
|
Short term borrowings |
53.149 |
31.506 |
54.687 |
|
Total
borrowings |
53.686 |
31.784 |
54.945 |
|
Debt/Equity
ratio |
0.219 |
0.116 |
0.188 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Total Income |
343.729 |
294.453 |
241.921 |
|
|
|
(14.336) |
(17.841) |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
343.729 |
294.453 |
241.921 |
|
Profit |
76.940 |
29.112 |
18.309 |
|
|
22.38% |
9.89% |
7.57% |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info Agents |
Available in
Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
Yes |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact
person |
Yes |
|
11] |
Turnover of firm for last
three years |
Yes |
|
12] |
Profitability for last
three years |
Yes |
|
13] |
Reasons for variation
<> 20% |
-- |
|
14] |
Estimation for coming
financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
Yes |
|
18] |
Major customers |
Yes |
|
19] |
Payments terms |
Yes |
|
20] |
Export / Import details
(if applicable) |
Yes |
|
21] |
Market information |
-- |
|
22] |
Litigations that the firm
/ promoter involved in |
-- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking
account |
-- |
|
26] |
Buyer visit details |
-- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
Yes |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of Proprietor/Partner/Director,
if available |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
No |
NOTE
·
INDEX OF CHARGES: NO
CHARGES EXIST FOR COMPANY
·
The Registered office of
the company has been shifted from 153, III Floor, Leela Building, Okhla Industrial
Estate, Phase III, New Delhi-110020, Delhi, India to the present address
w.e.f.02.04.2012
PERFORMANCE OF THE COMPANY
The
Company basically carries on the business of manufacturing of automotive
devises and allied activities. During the year company achieved total revenue
of Rs.241.900 Millions as compared Rs.34294.500 Millions in the corresponding
previous year. The Company earned a Net Profit (after tax) of Rs.18.300
Millions for the current year as compared Rs.29.100 Millions in the
corresponding previous year. The directors are putting all efforts to continue
on growth path and hope about the profitability of the company in the ensuing
years.
BACKGROUND
The company is a company registered under the
companies Act, 1956. It was incorporated on 14.05.1987 in the name of
Multispeed Gear Private Limited and changed its name to Rosmerta Autotech
Private Limited w.e.f. 18.02.2011. The company is primarily engaged in the
business of manufacturing and supply of Automotive Devices, Equipments and
Providing Allied Services. The company is a subsidiary of Rosmerta Technologies
Limited and Upstream Subsidiary of KKH Technologies Private Limited (Delhi)
UNSECURED LOAN
|
PARTICULARS |
31.03.2014 (Rs.
in Millions) |
31.03.2013 (Rs.
in Millions) |
|
Short-term
borrowings |
|
|
|
Loan from Holding Company |
54.687 |
31.506 |
|
Total |
54.687 |
31.506 |
FIXED ASSETS:
· Computers
· Website
· Office Equipments
· Plant and Machinery
· Motor Vehicle
· Furniture and Fixtures
· Land and Building
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 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.61.74 |
|
|
1 |
Rs.94.65 |
|
Euro |
1 |
Rs.70.79 |
INFORMATION DETAILS
|
Information
Gathered by : |
PRT |
|
|
|
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
KVT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILITY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
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 |
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 |
|
44 |
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.